|
|
|
MIRA INFORM REPORT
|
Report No. : |
484377 |
|
Report Date : |
06.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
STANDARD RETAIL PRIVATE LIMITED |
|
|
|
|
Registered
Office: |
2/3, Ashok Chambers, Devji Ratansy Marg, Masjid (East), Mumbai-400009,
Maharashtra |
|
Tel. No.: |
91-22-43430300 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2016 |
|
|
|
|
Date of
Incorporation : |
05.05.2010 |
|
|
|
|
Com. Reg. No.: |
11-202778 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
INR 38.200 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51101MH2010PTC202778 |
|
|
|
|
IEC No.: |
0313034397 |
|
|
|
|
GSTIN: |
27AAOCS2064H1Z4 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAOCS2064H |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
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|
Line of Business
: |
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|
|
|
No. of Employees
: |
230 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject was incorporated in the year 2010. It is a manufacturer and trader of steel products. Management has not filed its financial record with government department for the year 2017 and same are not available from any other sources. For the financial year ended 2016, the company has achieved an average growth of 2.12% in its revenue as compared to the previous year and has reported a minimal profitability margin of 0.33%. The company possesses fair financial position marked by above average net worth base along with modest debt balance sheet profile. Rating takes into consideration the equity infused by its promoters. However, rating is constrained on account of absence of latest financial of the company. Business is active. Payments are reported to be slow. In view of aforesaid, the company can be considered for business dealings at usual trade terms and condition. |
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 |
ICRA |
|
Rating |
Long Term Loans = BBB+ |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk |
|
Date |
11.10.2017 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short Term Loans = A3+ |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk |
|
Date |
11.10.2017 |
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. Bala Sakpal |
|
Designation : |
Finance Head |
|
Contact No.: |
91-22-43430300 |
|
Date : |
05.01.2018 |
LOCATIONS
|
Registered Office / Factory: |
2/3, Ashok Chambers, Devji Ratansy Marg, Masjid (East), Mumbai-400009,
Maharashtra, India |
|
Tel. No.: |
91-22-43430300 |
|
Fax No.: |
91-22-43430333 |
|
E-Mail : |
|
|
Website : |
|
|
Location: |
Owned |
|
Locality: |
Commercial |
|
|
|
|
Factory : |
E-5, MIDC Road, Taloja, Navi Mumbai, District Raigad-410208, Maharashtra, India |
DIRECTORS
AS ON 30.09.2017
|
Name : |
Mr. Nikunj Mansukhlal Turakhia |
|
Designation : |
Director |
|
Address : |
141, Shaan Apartment, Kashinath Dhuru Road, Dadar (West), Mumbai -
400028, Maharashtra, India |
|
Date of Birth/Age : |
18.08.1962 |
|
Qualification: |
Metallurgical Engineer from IIT Bombay |
|
Date of Appointment : |
05.05.2010 |
|
PAN No.: |
AABPT1260A |
|
DIN No. : |
00082170 |
|
|
|
|
Name : |
Mr. Parth Nikunj Turakhia |
|
Designation : |
Director |
|
Address : |
Flat No. 141, shan Apartments, 14th Floor, Kashinath Dhuru
Street, Prabhadevi, Mumbai – 400028, Maharashtra, India |
|
Date of Birth: |
10.02.1993 |
|
Qualification: |
B.Sc. In Business Adiministration (Finance) |
|
Date of Appointment : |
30.09.2014 |
|
PAN No.: |
ANFPT3829E |
|
DIN No. : |
05253313 |
KEY EXECUTIVES
|
Name : |
Mr. Bala Sakpal |
|
Designation : |
Finance Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2016
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Nikunj Mansukhlal Turakhia |
362900 |
9.50 |
|
Heena Nikunj Turakhia |
191000 |
5.00 |
|
Nikunj Mansukhlal Turakhia - HUF |
171900 |
4.50 |
|
Standard Conduits Private Limited, India |
1547100 |
40.50 |
|
Standards Galva Steels Private Limited, India |
1298800 |
34.00 |
|
Turakhia Steels Private Limited, India |
248300 |
6.50 |
|
Total |
3820000 |
100.00 |
AS ON 30.09.2016
|
Category |
Percentage |
|
Promoters (Individual/Hindu Undivided Family – Indian) |
19.00 |
|
Promoters (Body corporate) |
81.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
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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 : |
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||||
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Products : |
Finished goods |
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|
Countries : |
·
Malaysia ·
Singapore ·
Dubai ·
Japan ·
Europe |
||||
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||||
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Imports : |
|
||||
|
Products : |
Raw Material |
||||
|
Countries : |
· Korea · China · Dubai · United Arab Emirates · Japan |
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||||
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Terms : |
|
||||
|
Selling : |
Cheque and Credit (30/60 Days) |
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|
||||
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Purchasing : |
Cheque and Credit (30/60 Days) |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Retailers and End Users
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No. of Employees : |
230 (Approximately) |
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Bankers : |
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Facilities : |
|
|
Auditors : |
|
|
Name : |
Manish Modi and Associates Chartered Accountants |
|
Address : |
Gita Building, 2nd Floor, Plot No. 92, Next To HP Petrol Pump, Sion
Circle, Sion (East), Mumbai – 400022, Maharashtra, India |
|
Tel. No.: |
91-22-24026648 / 24085928 |
|
Fax No.: |
91-22-24026648 |
|
E-Mail : |
|
|
Income-tax
PAN of auditor or auditor's firm : |
AAOFM4644C |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Enterprises which are owned, or have significant
influence of or are partners with Key management personnel and their
relatives: |
|
|
|
|
|
Other Related Party: |
|
CAPITAL STRUCTURE
AS ON 30.09.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5010000 |
Equity Shares |
INR 10/- each |
INR 50.100 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3820000 |
Equity Shares |
INR 10/- each |
INR 38.200
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
38.200 |
19.100 |
0.100 |
|
(b) Reserves & Surplus |
686.126 |
349.521 |
3.873 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
0.000 |
272.108 |
325.840 |
|
Total
Shareholders’ Funds (1) + (2) |
724.326 |
640.729 |
329.813 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.000 |
1.214 |
105.152 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c)
Other long term liabilities |
0.000 |
3.589 |
0.000 |
|
(d)
long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
0.000 |
4.803 |
105.152 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
2363.491 |
2763.975 |
31.507 |
|
(b)
Trade payables |
202.572 |
188.580 |
659.745 |
|
(c)
Other current liabilities |
10.484 |
54.773 |
12.335 |
|
(d)
Short-term provisions |
0.000 |
2.553 |
2.117 |
|
Total
Current Liabilities (4) |
2576.547 |
3009.881 |
705.704 |
|
|
|
|
|
|
TOTAL |
3300.873 |
3655.413 |
1140.669 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
1.715 |
0.092 |
0.013 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.013 |
0.013 |
0.013 |
|
(c) Deferred tax assets
(net) |
0.104 |
0.028 |
0.000 |
|
(d) Long-term Loan
and Advances |
1.709 |
0.384 |
0.070 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
3.541 |
0.517 |
0.096 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
30.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1028.052 |
1265.505 |
443.036 |
|
(c)
Trade receivables |
1490.849 |
1471.360 |
450.704 |
|
(d)
Cash and cash equivalents |
465.148 |
517.928 |
15.346 |
|
(e)
Short-term loans and advances |
271.946 |
377.250 |
230.663 |
|
(f)
Other current assets |
11.337 |
22.853 |
0.824 |
|
Total
Current Assets |
3297.332 |
3654.896 |
1140.573 |
|
|
|
|
|
|
TOTAL |
3300.873 |
3655.413 |
1140.669 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Revenue
from operations |
6464.475 |
6330.311 |
697.958 |
|
|
Other Income |
67.784 |
18.926 |
0.947 |
|
|
TOTAL |
6532.259 |
6349.237 |
698.905 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Purchases of
Stock-in-Trade |
5199.619 |
6146.301 |
1029.126 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
237.453 |
(822.469) |
(443.036) |
|
|
Employee benefit expense |
21.160 |
21.866 |
2.248 |
|
|
Other expenses |
801.252 |
958.382 |
103.019 |
|
|
TOTAL |
6259.484 |
6304.080 |
691.357 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
272.775 |
45.157 |
7.548 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
239.213 |
(2.539) |
1.717 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
33.562 |
47.696 |
5.831 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.209 |
0.061 |
0.001 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
33.353 |
47.635 |
5.830 |
|
|
|
|
|
|
|
Less |
TAX |
11.898 |
15.487 |
1.881 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
21.455 |
32.148 |
3.949 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
5.62 |
16.83 |
2.07 |
|
PARTICULARS |
|
|
31.03.2017 |
|
Sales Turnover (Approximately) |
|
|
8490.000 |
|
|
|
|
|
Expected Sales (2017-2018): INR 11500.000 Million (Due to received more
order sales increased)
The above information has been parted by Mr. Bala Sakpal (Finance
Head)
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
0.000 |
0.000 |
0.000 |
|
Net cash flows from (used in) operations |
446.673 |
(2398.793) |
(239.872) |
|
Net cash flows from (used in) operating activities |
434.124 |
(2411.755) |
(240.934) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
|
84.18 |
84.84 |
235.70 |
|
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
|
4.34 |
4.30 |
1.55 |
|
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
|
14.22 |
11.20 |
233.99 |
|
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
|
0.27 |
0.04 |
0.02 |
|
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
|
159.05 |
490.84 |
580.62 |
LEVERAGE RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
|
0.78 |
0.82 |
0.71 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
|
3.26 |
4.32 |
0.41 |
|
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities
/ Net Worth) |
|
3.56 |
4.70 |
2.14 |
|
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
|
1.14 |
(17.79) |
4.40 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin ((PAT / Sales) *
100) |
(%) |
0.33 |
0.51 |
0.57 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
(%) |
0.65 |
0.88 |
0.35 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
(%) |
2.96 |
5.02 |
1.20 |
SOLVENCY RATIO
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current Assets / Current Liabilities) |
|
1.28 |
1.21 |
1.62 |
|
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
|
0.88 |
0.79 |
0.99 |
|
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
|
0.22 |
0.18 |
0.29 |
|
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
|
61.87 |
144.77 |
1366.59 |
|
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
|
1.28 |
1.21 |
1.62 |
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 |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
0.100 |
19.100 |
38.200 |
|
Reserves & Surplus |
3.873 |
349.521 |
686.126 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
325.840 |
272.108 |
0.000 |
|
Net worth |
329.813 |
640.729 |
724.326 |
|
|
|
|
|
|
Long-term borrowings |
105.152 |
1.214 |
0.000 |
|
Short term borrowings |
31.507 |
2763.975 |
2363.491 |
|
Current maturities of
long-term debts |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
136.659 |
2765.189 |
2363.491 |
|
Debt/Equity
ratio |
0.414 |
4.316 |
3.263 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
697.958 |
6330.311 |
6464.475 |
|
|
0.000 |
806.976 |
2.119 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
697.958 |
6330.311 |
6464.475 |
|
Profit/ (Loss) |
3.949 |
32.148 |
21.455 |
|
|
0.57
% |
0.51
% |
0.33
% |
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 |
Yes |
|
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 |
Yes |
|
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) |
Yes |
|
16] |
No. of employees |
Yes |
|
17] |
Details of sister concerns |
Yes |
|
18] |
Major suppliers |
Yes |
|
19] |
Major customers |
Yes |
|
20] |
Banking Details |
No |
|
21] |
Banking facility details |
No |
|
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 |
No |
|
26] |
Turnover of firm for last four 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 |
Yes |
|
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 |
NATURE OF OPERATIONS :
Subject is engaged in carrying out the business of steel trade of varied mild steel products namely; billets, slabs, plates, hot rolled coils, plates and sheets, cold rolled coils, plates and sheets, PPGI coils, electrolytic tin plates, wire-rod coils, electro-galvanized coils and plates
UNSECURED LOAN
|
PARTICULARS |
31.03.2016 (INR
In Million) |
31.03.2015 (INR
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Rupee term loans from others |
0.000 |
1.214 |
|
|
|
|
|
SHORT TERM BORROWINGS |
|
|
|
Loans and advances from related parties |
20.000 |
0.000 |
|
Other loans and advances |
127.157 |
142.519 |
|
Total |
147.157 |
143.733 |
FIXED ASSETS:
·
Land
·
Buildings
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Computer Equipment’s
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records 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 63.39 |
|
|
1 |
INR 85.74 |
|
Euro |
1 |
INR 76.25 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared
by : |
RKI |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--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.