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|
MIRA INFORM REPORT
|
Report No. : |
484574 |
|
Report Date : |
06.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
DEVKIRAN PAPER MILLS PRIVATE LIMITED (w.e.f.16.12.1988) |
|
|
|
|
Formerly Known
As : |
SOUTH INDIA SACKS PRIVATE LIMITED |
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Registered
Office : |
“Sri Maruthi Nilaya”, Hunsur Road, K.R. Nagar, Bangalore – 571602,
Karnataka |
|
Mobile No.: |
91-9840523998 (Mr. R.R. Murali) |
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|
Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of Incorporation
: |
30.04.1985 |
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|
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Com. Reg. No.: |
08-006879 |
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Capital
Investment / Paid-up Capital : |
INR 49.123
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U02520KA1985PTC006879 |
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|
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IEC No.: |
Not Divulged |
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|
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GSTIN : |
29AAACD7623H1ZM |
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|
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
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PAN No.: [Permanent Account No.] |
AAACD7623H |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
·
Manufacturer of Kraft Paper, Pulp Paper and
Paperboard (Registered
Activity) ·
Manufacturer of High Quality Recycled Unbleached
Kraft Paper. (Confirmed by Management) |
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|
|
|
No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
Status : |
Moderate |
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|
|
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Devkrian Paper Mills Private Limited was incorporated in the year
1985. It is a manufacturer of high quality recycled unbleached kraft paper. For the financial year 2017, there has been minimal decreased in its
revenue 0.73% but has managed to maintain low profit margin of 0.38%. The moderate financial profile of the company is marked by low reserve
base as compared to its capital along with comfortable debt coverage
indicators. However, rating weakness is partially offset by equity infused by its
promoters. Payments are reported to be slow but correct. In view of aforesaid, the company can be considered for business
dealings with some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 06.01.2018
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION PARTED BY
|
Name : |
Mr. R. R. Murali |
|
Designation : |
Manager |
|
Contact No.: |
91-9840523998 |
|
Date : |
05.01.2018 |
LOCATIONS
|
Registered Office : |
“Sri Maruthi Nilaya”, Hunsur Road, K.R. Nagar, Bangalore – 571602,
Karnataka, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9840523998 (Mr. R.R. Murali) |
|
Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Factory : |
No 24, Gudimavu Village, Kumbalgodu Post, Bangalore – 560074,
Karnataka, India |
|
Tel. No.: |
91-80-28437288/ 527 |
|
Fax No.: |
91-80-28437288 |
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E-Mail : |
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Sales Office : |
No 919, 1st Floor, 2nd Cross, 5th Main, MC Layout, Vijaynagar,
Bangalore – 560040, Karnataka, India |
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Tel. No.: |
91-80-23108417 |
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Fax No.: |
91-80-23108417 |
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E-Mail : |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Ramanujasetty Hanumathasetty Raja |
|
Designation : |
Whole-Time Director |
|
Address : |
No.17/284, Maruthi Nilaya, Hunsur Road, Krishnaraja Nagar, Mysore - 571602, Karnataka, India |
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Date of Birth/Age : |
15.05.1938 |
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Date of Appointment : |
30.04.1985 |
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DIN No.: |
02899460 |
|
|
|
|
Name : |
Mr. Sreenivasa Hanumanthaiah Setty |
|
Designation : |
Whole-Time Director |
|
Address : |
No. 190, 5th Cross, GKW Layout, Vijayanagar, Bangalore - 560040, Karnataka, India |
|
Date of Birth/Age : |
05.05.1949 |
|
Date of Appointment : |
30.04.1985 |
|
DIN No.: |
02440190 |
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|
|
|
Name : |
Mr. Ramakrishnasetty Hanumanthasetty Raja |
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Designation : |
Whole-Time Director |
|
Address : |
No 1143/65-A, F 10, 1st Floor, Sarvajanika Hostel, Back Side, 4th Main, 1st Cross, Vidyaranyapuram, Mysore - 570008, Karnataka, India |
|
Date of Birth/Age : |
24.08.1952 |
|
Date of Appointment : |
30.04.1985 |
|
DIN No.: |
02899519 |
KEY EXECUTIVES
|
Name : |
Mr. R. R. Murali |
|
Designation : |
Manager |
MAJOR SHAREHOLDERS
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
R H. Ramanuja Setty |
|
40484 |
|
Sreenivasa Hanumanthaiah Setty |
|
50539 |
|
R R Murali |
|
1750 |
|
RR Niranjan |
|
875 |
|
RT Kiran |
|
1750 |
|
R S Prashanth |
|
875 |
|
Usha Bhaskar |
|
79490 |
|
Sree Laxmi |
|
28000 |
|
R H. Ramakrishna Setty |
|
7511 |
|
Anantha Nagalakshmi Setty |
|
42000 |
|
RR Sunanda |
|
45500 |
|
R.S. Saraswathi |
|
61754 |
|
Shubha |
|
3500 |
|
SeethaLaxmi |
|
3500 |
|
Ashwini.K |
|
7000 |
|
G. Asha Nataraj |
|
5865 |
|
Nagesh B. L. |
|
17500 |
|
A. R. Radha |
|
46662 |
|
N. Rama Setty |
|
40831 |
|
R S Shruthi |
|
5831 |
|
V S Prakash Kumar |
|
7 |
|
V P Sunil |
|
7 |
|
Sundeep N G |
|
1 |
|
Total |
|
491232 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2017
|
Category |
Percentage |
|
Promoters (Individual/Hindu Undivided Family – Indian) |
28.61 |
|
Public/Other than promoters (Individual/Hindu Undivided Family – Indian) |
71.39 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
·
Manufacturer of Kraft Paper, Pulp Paper and
Paperboard (Registered
Activity) ·
Manufacturer of High Quality Recycled Unbleached Kraft
Paper. (Confirmed by Management) |
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Products / Services
: |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Cash, Cheque, Credit (30/60/90 Days) |
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Purchasing : |
Cash, Cheque, Credit (30/60/90 Days) |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Manufacturer
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No. of Employees : |
100 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
B S Ravikumar and Associates Chartered Accountants |
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Address : |
73, 2nd Floor, Sri Madhvesha Complex, Malai Mahadeshwara Road,
Nazarbad, Mysore -570010, Karnataka, India |
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Income-tax
PAN of auditor or auditor's firm : |
AADFB1008N |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Entities over which
Key Management Personnel and their Relatives are able to exercise significant
influence : |
Shreyas Incorporation |
CAPITAL STRUCTURE
As on 30.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
INR 100/- each |
INR 50.000 Million |
|
10000 |
Preference Shares |
INR 100/- each |
INR 1.000 Million |
|
|
Total |
|
INR 51.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
491232 |
Equity Shares |
INR 100/- each |
INR 49.123 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
49.123 |
47.840 |
47.840 |
|
(b) Reserves & Surplus |
35.568 |
29.788 |
19.753 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
84.691 |
77.628 |
67.593 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
116.501 |
86.934 |
94.840 |
|
(b) Deferred tax liabilities
(Net) |
6.307 |
7.912 |
12.994 |
|
(c) Other long term
liabilities |
40.294 |
44.577 |
45.432 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
163.102 |
139.423 |
153.266 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
101.166 |
120.484 |
113.102 |
|
(b) Trade payables |
67.953 |
56.487 |
33.048 |
|
(c) Other current liabilities |
32.777 |
29.044 |
36.238 |
|
(d) Short-term provisions |
5.237 |
5.776 |
4.867 |
|
Total
Current Liabilities (4) |
207.133 |
211.791 |
187.255 |
|
|
|
|
|
|
TOTAL |
454.926 |
428.842 |
408.114 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
239.424 |
258.597 |
268.082 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
21.758 |
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.101 |
0.004 |
0.004 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
9.028 |
8.904 |
7.375 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
270.311 |
267.505 |
275.461 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
147.577 |
132.751 |
108.869 |
|
(c) Trade receivables |
29.827 |
22.033 |
14.615 |
|
(d) Cash and cash equivalents |
4.830 |
5.438 |
8.338 |
|
(e) Short-term loans and
advances |
2.381 |
1.115 |
0.831 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
184.615 |
161.337 |
132.653 |
|
|
|
|
|
|
TOTAL |
454.926 |
428.842 |
408.114 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
535.043 |
539.013 |
495.299 |
|
|
Other Income |
1.472 |
1.884 |
0.524 |
|
|
TOTAL
|
536.515 |
540.897 |
495.823 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
306.461 |
332.071 |
294.064 |
|
|
(Increase)/ Decrease in Semi-Finished Goods & Work in Process |
5.939 |
(22.330) |
(20.613) |
|
|
Employees benefits expense |
40.724 |
39.679 |
35.261 |
|
|
Other expenses |
117.753 |
123.097 |
123.798 |
|
|
TOTAL |
470.877 |
472.517 |
432.510 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
65.638 |
68.380 |
63.313 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
45.348 |
43.810 |
41.842 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
20.290 |
24.570 |
21.471 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
19.850 |
19.617 |
19.904 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
0.440 |
4.953 |
1.567 |
|
|
|
|
|
|
|
Less |
TAX |
(1.605) |
(5.083) |
12.069 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
2.045 |
10.036 |
(10.502) |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
11.307 |
0.000 |
NA |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
4.27 |
20.98 |
(21.95) |
Expected Sales (2017-2018): INR 770.000 Million (Due to Business Growth)
The above information has been parted by Mr. R.R. Murali (Manager)
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
28.634 |
24.207 |
33.200 |
|
Cash generated from operations |
52.720 |
52.085 |
5.687 |
|
Net cash flows from (used in) operating activities |
51.665 |
51.323 |
5.591 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
20.35 |
14.92 |
10.77 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
17.94 |
24.46 |
33.89 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
80.93 |
62.09 |
41.02 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.44 |
0.52 |
0.58 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.25 |
0.26 |
0.24 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.77 |
0.75 |
0.77 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
2.91 |
2.98 |
3.57 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
2.45 |
2.73 |
2.77 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
3.08 |
3.33 |
3.97 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
1.45 |
1.56 |
1.51 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
0.38 |
1.86 |
-2.12 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
0.45 |
2.34 |
-2.57 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
2.41 |
12.93 |
-15.54 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
0.89 |
0.76 |
0.71 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.18 |
0.13 |
0.13 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.19 |
0.18 |
0.17 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
5.01 |
4.84 |
5.04 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
0.89 |
0.76 |
0.71 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
47.840 |
47.840 |
49.123 |
|
Reserves & Surplus |
19.753 |
29.788 |
35.568 |
|
Net
worth |
67.593 |
77.628 |
84.691 |
|
|
|
|
|
|
long-term borrowings |
94.840 |
86.934 |
116.501 |
|
Short term borrowings |
113.102 |
120.484 |
101.166 |
|
Current maturities of
long-term debts |
33.200 |
24.207 |
28.634 |
|
Total
borrowings |
241.142 |
231.625 |
246.301 |
|
Debt/Equity
ratio |
3.568 |
2.984 |
2.908 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
495.299 |
539.013 |
535.043 |
|
|
|
8.826 |
(0.737) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
495.299 |
539.013 |
535.043 |
|
Profit/ (Loss) |
(10.502) |
10.036 |
2.045 |
|
|
(2.12%) |
1.86% |
0.38% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of establishment |
Yes |
|
2] |
Constitution of the entity Incorporation
details |
Yes |
|
3] |
Locality of the entity |
Yes |
|
4] |
Premises details |
No |
|
5] |
Buyer visit details |
-- |
|
6] |
Contact numbers |
Yes |
|
7] |
Name of the person contacted |
Yes |
|
8] |
Designation of contact person |
Yes |
|
9] |
Promoter’s background |
Yes |
|
10] |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11] |
Pan Card No. of Proprietor / Partners |
No |
|
12] |
Voter Id Card No. of Proprietor / Partners |
No |
|
13] |
Type of business |
Yes |
|
14] |
Line of Business |
Yes |
|
15] |
Export/import details (if applicable) |
No |
|
16] |
No. of employees |
Yes |
|
17] |
Details of sister concerns |
Yes |
|
18] |
Major suppliers |
No |
|
19] |
Major customers |
No |
|
20] |
Banking Details |
Yes |
|
21] |
Banking facility details |
Yes |
|
22] |
Conduct of the banking account |
-- |
|
23] |
Financials, if provided |
Yes |
|
24] |
Capital in the business |
Yes |
|
25] |
Last accounts filed at ROC, if applicable |
Yes |
|
26] |
Turnover of firm for last three years |
Yes |
|
27] |
Reasons for variation <> 20% |
Yes |
|
28] |
Estimation for coming financial year |
Yes |
|
29] |
Profitability for last three years |
Yes |
|
30] |
Major shareholders, if available |
Yes |
|
31] |
External Agency Rating, if available |
No |
|
32] |
Litigations that the firm/promoter
involved in |
-- |
|
33] |
Market information |
-- |
|
34] |
Payments terms |
Yes |
|
35] |
Negative Reporting by Auditors in the
Annual Report |
No |
CORPORATE INFORMATION
The Company is a private limited company registered in India and incorporated under the provision of Companies Act, 1956 is engaged in Manufacturing of Kraft Paper.
UNSECURED LOAN
|
PARTICULAR |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
From Directors, Share Holders and Relatives |
45.376 |
25.129 |
|
From Intercorporate Loans |
5.932 |
7.500 |
|
Total |
51.308 |
32.629 |
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Differential amount of customs duty respect of machinery imported
under EPCG/EHTP scheme excluding interest there on |
5.151 |
9.041 |
FIXED ASSETS
·
Freehold Land
·
Building
·
Computer
·
Furniture and Fixture
·
Office Equipments
·
Plant and Machinery
·
Power Plant
·
Vehicles
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service, Interpol,
etc.
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist organization
or whom notice had been received that all financial transactions involving
their assets have been blocked or convicted, found guilty or against whom a
judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 63.38 |
|
UK Pound |
1 |
INR 86.02 |
|
Euro |
1 |
INR 76.50 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHW |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
JYTK |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.
·