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|
|
%20-%20485366_MIRA%2011-Jan-2018_files/image015.jpg){kind=small}
%20-%20485366_MIRA%2011-Jan-2018_files/image016.jpg)
%20-%20485366_MIRA%2011-Jan-2018_files/image018.gif)
MIRA INFORM REPORT
|
Report No. : |
485366 |
|
Report Date : |
11.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
MARRIOTT HOTELS INDIA PRIVATE LIMITED (TRF.) |
|
|
|
|
Registered
Office : |
303 /304, 3rd Floor, Hiranandani Fulcrum, Sahar Road, Andheri (East),
Vile Parle (East), Next to Hyatt Regency, Mumbai – 400099, Maharashtra |
|
Tel. No.: |
91-22-67241000 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on)
: |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
02.08.1993 |
|
|
|
|
Com. Reg. No.: |
11-160831 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 3.363 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U55102MH1993PTC160831 |
|
|
|
|
IEC No.: |
Not Divulged |
|
|
|
|
GSTIN No.: |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCM0274G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged into Rendering Management Services to Hotel
in India, besides arranging tours and transportation, providing secretarial
and other business services to foreign executive and businessman and also
provides hotel developments, marketing, feasibility and legal services
relating to advertising, hotel room reservation and providing information for
hotel room requirements for outbound tourists and commercial travelers. [Registered
Activity] |
|
|
|
|
No. of Employees
: |
Information denied by the management |
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+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Status : |
Excellent |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a step down subsidiary of “Marriott International Inc” which stands 163rd in fortune 500. The company was incorporated in the year 1993. For the financial year 2017, the company has achieved 19.29% growth in its revenue as compared to previous year revenue and has maintained fair profitability margin of 6.37% during the year under review. The sound financial profile of the company is marked by adequate networth base along with strong debt coverage indicators due to debt free balance sheet profile. The company has decent earning per share (EPS) of INR 134.22 against the face value (FV) of INR 10. The rating takes into consideration the subject’s long track record of business operations along with extensive experience of its promoters. Rating also takes into account the strong financial and managerial support that the company receives from its holding entity backed by its well experienced management team. Business is active. Payments are reported to be regular. In view of aforesaid, the company can be considered for business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
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 11.01.2018.
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 DENIED
MANAGEMENT NON-COOPERATIVE (Tel No.: 91-22-67241000)
LOCATIONS
|
Registered Office : |
303 /304, 3rd Floor, Hiranandani Fulcrum, Sahar Road, Andheri (East),
Vile Parle (East), Next to Hyatt Regency, Mumbai – 400099, Maharashtra, India
|
|
Tel. No.: |
91-22-67241000 |
|
Fax No.: |
91-22-67241050 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Rajeev Menon |
|
Designation : |
Director |
|
Address : |
53, Alexandra Street, Hunters Hill, NSW 2110, Australia,
Sydney, 2110, Australia |
|
Date of Birth/Age : |
16.08.1968 |
|
Date of Appointment : |
01.02.2008 |
|
DIN No.: |
01868721 |
|
|
|
|
Name : |
Mr. Paul Thomas Foskey |
|
Designation : |
Director |
|
Address : |
House 3, Orchid Villa, 26, Shouson Hill Road, Shouson Hill, 40, Hong Kong |
|
Date of Birth/Age : |
31.08.1962 |
|
Date of Appointment : |
21.06.2004 |
|
DIN No.: |
01908780 |
|
|
|
|
Name : |
Mr. Kiran Andicot |
|
Designation : |
Director |
|
Address : |
Apartment 102 Tower 7, Vipul Belmonie, DLF Golf Course Road, Sector-53, 122002, Haryana, India |
|
Date of Birth/Age : |
10.04.1972 |
|
Date of Appointment : |
30.10.2013 |
|
DIN No.: |
06673875 |
|
|
|
|
Name : |
Mr. Kenneth Robert Rehmann |
|
Designation : |
Director |
|
Address : |
Unit 1603, Tower 2, Queen's Garden, 9 Old Peak Road, Mid-Levels, Hong Kong |
|
Date of Birth/Age : |
10.02.1962 |
|
Date of Appointment : |
30.10.2013 |
|
DIN No.: |
06700535 |
|
|
|
|
Name : |
Mr. Neeraj Navin Govil |
|
Designation : |
Additional Director |
|
Address : |
Unit 2-4, Ground Floor, Andheri Kurla Road, Andheri (East), Dynasty Business Park A, Mumbai – 400059, Maharashtra, India |
|
Date of Appointment : |
31.03.2016 |
|
DIN No.: |
07482324 |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Marriott Worldwide Corporation, United states of America |
|
336266 |
|
Marriott International Incorporation, Delaware |
|
2 |
|
Total |
|
336268 |
AS ON 29.09.2017
|
Equity Share
Break up |
Percentage |
|
Category |
|
|
Promoters – [Bodies corporate] |
100.00 |
|
Total |
100.00 |
%20-%20485366_MIRA%2011-Jan-2018_files/image019.gif)
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged into Rendering Management Services to Hotel
in India, besides arranging tours and transportation, providing secretarial and
other business services to foreign executive and businessman and also
provides hotel developments, marketing, feasibility and legal services
relating to advertising, hotel room reservation and providing information for
hotel room requirements for outbound tourists and commercial travelers. [Registered
Activity] |
||||
|
|
|
||||
|
Products / Services
: |
|
||||
|
|
|
||||
|
Brand Names : |
Not Available |
||||
|
|
|
||||
|
Agencies Held : |
Not Available |
||||
|
|
|
||||
|
Exports : |
Not Divulged |
||||
|
|
|
||||
|
Imports : |
Not Divulged |
||||
|
|
|
||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
Information denied by the management |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells LLP Chartered Accountants |
|
Address : |
32nd Floor, Tower 3, India Bulls Finance Centre, Senapati Bapat Marg, Elphinstone
(West), Mumbai – 400013, Maharashtra, India |
|
Tel. No.: |
91-22-61854000 |
|
Fax No.: |
91-22-61854001 |
|
PAN No.: |
AACFD4815A |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding Company: |
Marriott Worldwide Corporation |
|
|
|
|
Ultimate Holding Company |
Marriott International INC |
|
|
|
|
Fellow Subsidiaries : |
|
CAPITAL STRUCTURE
AS ON 29.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
INR 10/- each |
INR 5.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
336268 |
Equity Shares |
INR 10/- each |
INR 3.363 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 |
3.363 |
3.363 |
3.363 |
|
(b) Reserves &
Surplus |
261.064 |
215.931 |
168.533 |
|
(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) |
264.427 |
219.294 |
171.896 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
27.675 |
26.895 |
23.276 |
|
Total Non-current
Liabilities (3) |
27.675 |
26.895 |
23.276 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
63.190 |
48.565 |
4.585 |
|
(c) Other current
liabilities |
203.818 |
221.495 |
212.204 |
|
(d) Short-term provisions |
5.262 |
0.827 |
13.829 |
|
Total Current Liabilities
(4) |
272.270 |
270.887 |
230.618 |
|
|
|
|
|
|
TOTAL |
564.372 |
517.076 |
425.790 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
22.143 |
21.329 |
21.857 |
|
(ii) Intangible Assets |
1.796 |
1.353 |
2.049 |
|
(iii) Capital
work-in-progress |
0.675 |
0.000 |
0.000 |
|
(iv) Intangible assets
under development |
0.510 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
35.418 |
39.014 |
32.111 |
|
(d) Long-term Loan and Advances |
134.155 |
97.736 |
74.504 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
194.697 |
159.432 |
130.521 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
130.502 |
141.035 |
83.828 |
|
(d) Cash and cash
equivalents |
19.643 |
33.094 |
4.939 |
|
(e) Short-term loans and
advances |
53.109 |
48.997 |
79.582 |
|
(f) Other current assets |
166.421 |
134.518 |
126.920 |
|
Total Current Assets |
369.675 |
357.644 |
295.269 |
|
|
|
|
|
|
TOTAL |
564.372 |
517.076 |
425.790 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
708.557 |
593.973 |
588.549 |
|
|
Other Income |
159.427 |
41.769 |
33.293 |
|
|
TOTAL |
867.984 |
635.742 |
621.842 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Employees benefits
expense |
441.001 |
340.318 |
351.115 |
|
|
Other expenses |
339.870 |
213.381 |
204.236 |
|
|
TOTAL |
780.871 |
553.699 |
555.351 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX,
DEPRECIATION AND AMORTISATION |
87.113 |
82.043 |
66.491 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
8.026 |
8.146 |
8.322 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
79.087 |
73.897 |
58.169 |
|
|
|
|
|
|
|
Less |
TAX |
33.955 |
26.499 |
17.293 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
45.132 |
47.398 |
40.876 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
Service Fee income |
639.958 |
534.222 |
541.576 |
|
|
TOTAL EARNINGS |
639.958 |
534.222 |
541.576 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
134.22 |
140.95 |
121.56 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flow from operating activities |
(2.374) |
35.129 |
2.200 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days [Sundry Debtors / Income *
365] |
67.23 |
86.67 |
51.99 |
|
|
|
|
|
|
Account Receivables Turnover [Income / Sunday Debtors] |
5.43 |
4.21 |
7.02 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
3.47 |
3.62 |
2.78 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.48 |
0.52 |
0.54 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability /
Networth) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
1.03 |
1.24 |
1.34 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.10 |
0.10 |
0.14 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
PAT to Sales ((PAT / Sales) * 100) |
% |
6.37 |
7.98 |
6.95 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
8.00 |
9.17 |
9.60 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
17.07 |
21.61 |
23.78 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.36 |
1.32 |
1.28 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
1.36 |
1.32 |
1.28 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.47 |
0.42 |
0.40 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.36 |
1.32 |
1.28 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are 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 |
3.363 |
3.363 |
3.363 |
|
Reserves & Surplus |
168.533 |
215.931 |
261.064 |
|
Net
worth |
171.896 |
219.294 |
264.427 |
|
|
|
|
|
|
Long Term borrowings |
0.000 |
0.000 |
0.000 |
|
Short Term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
%20-%20485366_MIRA%2011-Jan-2018_files/image020.gif)
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
|
588.549 |
593.973 |
708.557 |
|
|
|
0.922 |
19.291 |
%20-%20485366_MIRA%2011-Jan-2018_files/image021.gif)
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
|
588.549 |
593.973 |
708.557 |
|
Profit |
40.876 |
47.398 |
45.132 |
|
|
6.95% |
7.98% |
6.37% |
%20-%20485366_MIRA%2011-Jan-2018_files/image022.gif)
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 |
No |
|
8 |
Designation of contact person |
No |
|
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 |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
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 |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
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 |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
BACKGROUND
Subject was incorporated 02 August 1993 under the companies Act, 1956 (The Act). The company was established to render management services to Hotel in India, besides arranging tours and transportation, providing secretarial and other business services to foreign executive and businessman. The company also provides hotel developments, marketing, feasibility and legal services relating to advertising, hotel room reservation and providing information for hotel room requirements for outbound tourists and commercial travelers form India.
BRIEF DESCRIPTION OF THE COMPANY’S WORKING DURING THE YEAR/ STATE OF COMPANY’S AFFAIRS.
The company during the year have earned profit of INR 45.132 million as compared to previous year profit of INR 47.398 million.
The directors are taking steps and efforts to improve the position of the Company.
INDEX OF CHARGE: NO
CHARGES EXISTS FOR COMPANY
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
|
|
|
|
During demand of income tax |
131.296 |
50.577 |
|
Disputed demand of service tax |
332.869 |
332.860 |
|
Disputed amount of VAT |
10.000 |
10.000 |
|
Total |
474.165 |
393.437 |
FIXED ASSETS:
Tangible Assets
- Leasehold Improvements
- Computers
- Office equipment
- Furniture and Fixtures
Intangible assets
- Computer Software
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 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 63.83 |
|
|
1 |
INR 86.28 |
|
Euro |
1 |
INR 76.14 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
VRS |
|
|
|
|
Report Prepared
by : |
GEET |
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 |
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.