|
|
|
MIRA INFORM REPORT
|
Report No. : |
485832 |
|
Report Date : |
16.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
EKSOY CHEMICALS
INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
B-91, Shaligram-1, Behind Anandnagar Police Station, Opposite Jhansi
Rani Statue, Satellite, Ahmedabad – 380015, Gujarat |
|
Mobile No.: |
91-9033376104 (Mr. Kamal Kaul) 91-9638844150 / 9638033342 (Mr. Latif Alsancak) |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
18.06.2013 |
|
|
|
|
Com. Reg. No.: |
04-075653 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 35.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24100GJ2013PTC075653 |
|
|
|
|
IEC No.: |
0813013402 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCE4058L |
|
|
|
|
GSTIN : |
Not Available |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
|
|
|
|
Line of Business
: |
Manufacturing and Trading in all kinds of Chemicals, Dyes
and Intermediates. (Registered activity) |
|
|
|
|
No. of Employees
: |
Not Available |
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 |
|
Maximum Credit Limit : |
USD 89000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a wholly owned subsidiary of “Eksoy Chemical Industry and Commerce
Incorporated Company - Turkey.” and was incorporated in the year 2013. For the financial year 2017, the company marginal declined in its
revenue from operation as compared to previous year and reported losses. Rating takes into consideration company’s moderate financial risk
profile marked by accumulated losses registered by the company which seems to
be increasing during the year. Further, rating remains constrained on account of continuously
declined in the revenue profile, short track of business operations,
unfavorable gap between trade payables and receivables, modest liquidity
position and intensively competitive nature of the industry. However, rating weakness is partially offset by adequate capital
structure along with debt free balance sheet and support received from its
holding entity. Trade relations are reported to be fair. Business is active. Payments
terms are slow but correct. 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 16.01.2018
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.
LOCATIONS
|
Registered Office / Factory: |
B-91, Shaligram-1, Behind Anandnagar Police Station, Opposite Jhansi
Rani Statue, Satellite, Ahmedabad – 380015, Gujarat, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9033376104 (Mr. Kamal Kaul) 91-9638844150 / 9638033342 (Mr. Latif Alsancak) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
|
|
|
Overseas Headquarter : |
Organize Sanayi Bölgesi, Gaziosman Paşa Mah., Sehit Atilla Sok.No:24, Posta Kodu:59500, Tekirdağ, Turkey |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Arda Soydan |
|
Designation : |
Director |
|
Address : |
36B3/ Single, Kemer Hill Sitesi, Cesmebasi Cad., Gokturk Merkez Mah., Istanbul, Eyup, 34050, Turkey |
|
Date of Appointment : |
18.06.2013 |
|
DIN No.: |
06565443 |
|
|
|
|
Name : |
Mr. Bulent Seyhan |
|
Designation : |
Director |
|
Address : |
79/12, Kayalik Sk., Baglik Mah., Zonguldak, Eregli, 67000, Turkey |
|
Date of Appointment : |
18.06.2013 |
|
DIN No.: |
06565454 |
|
|
|
|
Name : |
Ayca Gozek |
|
Designation : |
Director |
|
Address : |
4A7/1, Panoroma Villalari, Panayir Cayiri Cad., Gokturk Merkez Mah., Istanbul, Eyup, 34050, Turkey |
|
Date of Appointment : |
14.08.2013 |
|
DIN No.: |
06614118 |
|
|
|
|
Name : |
Mr. Latif Alsancak |
|
Designation : |
Additional Director |
|
Address : |
Guzelyali Mah. 81148 SK. Zeliha Subasi Apartmani No. 5, IC Kapi No. 20, Cukurova Adana 01170 Turkey |
|
Date of Appointment : |
05.12.2015 |
|
DIN No.: |
07351331 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Eksoy Kimya Sanayi Ve Tacaret Anonim Sirketi (alias Eksoy Chemical
Industry and Commerce Incorporated Company) |
3425500 |
97.87 |
|
Bulent Seyhan |
74500 |
2.13 |
|
|
|
|
|
Total |
3500000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 22.09.2017
|
Category |
Percentage |
|
Promoter – (Individual/ Hindu Undivided
Family – Foreign national (Other than NRI)) |
2.13 |
|
Promoter - Bodies
corporate |
97.87 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Trading in all kinds of Chemicals, Dyes
and Intermediates. (Registered activity) |
||||||
|
|
|
||||||
|
Products : |
|
||||||
|
|
|
||||||
|
Brand Names : |
Not Available |
||||||
|
|
|
||||||
|
Agencies Held : |
Not Available |
||||||
|
|
|
||||||
|
Exports : |
Not Available |
||||||
|
|
|
||||||
|
Imports : |
Not Available |
||||||
|
|
|
||||||
|
Terms : |
Not Available |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
Not Available |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
|
Auditors : |
|
|
Name : |
Agrawal and Mandowara Chartered Accountants |
|
Address : |
709, Hemkoot Complex, Opposite Nehru Bridge, Ashram Road, Ahmedabad –
380009, Gujarat, India |
|
Tel. No.: |
91-79-26580906 / 07 |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AABFA3608D |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding Company : |
|
|
|
|
|
Fellow Subsidiaries : |
|
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3500000 |
Equity Shares |
INR 10/- each |
INR 35.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3500000 |
Equity Shares |
INR 10/- each |
INR 35.000 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in 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 |
35.000 |
35.000 |
22.300 |
|
(b) Reserves &
Surplus |
(3.726) |
(1.818) |
(3.832) |
|
(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) |
31.274 |
33.182 |
18.468 |
|
|
|
|
|
|
(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 |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
2.584 |
0.844 |
6.407 |
|
(c) Other current
liabilities |
1.461 |
0.377 |
0.782 |
|
(d) Short-term provisions |
0.667 |
0.987 |
0.211 |
|
Total Current Liabilities
(4) |
4.712 |
2.208 |
7.400 |
|
|
|
|
|
|
TOTAL |
35.986 |
35.390 |
25.868 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
3.750 |
3.966 |
4.144 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
1.501 |
0.777 |
1.698 |
|
(d) Long-term Loan and Advances |
0.320 |
0.320 |
0.320 |
|
(e) Other Non-current
assets |
0.000 |
0.070 |
0.140 |
|
Total Non-Current Assets |
5.571 |
5.133 |
6.302 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
11.361 |
9.800 |
8.251 |
|
(c) Trade receivables |
13.095 |
5.788 |
6.379 |
|
(d) Cash and cash
equivalents |
1.087 |
13.892 |
4.692 |
|
(e) Short-term loans and
advances |
4.802 |
0.669 |
0.174 |
|
(f) Other current assets |
0.070 |
0.108 |
0.070 |
|
Total Current Assets |
30.415 |
30.257 |
19.566 |
|
|
|
|
|
|
TOTAL |
35.986 |
35.390 |
25.868 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
41.086 |
45.714 |
10.989 |
|
|
Other Income |
0.395 |
0.384 |
0.168 |
|
|
TOTAL |
41.481 |
46.098 |
11.157 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
6.284 |
7.612 |
4.314 |
|
|
Purchases of
Stock-in-Trade |
24.674 |
24.501 |
7.330 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(2.295) |
0.874 |
(4.316) |
|
|
Employees benefits expense |
7.191 |
4.312 |
3.739 |
|
|
Other expenses |
7.773 |
5.375 |
3.264 |
|
|
TOTAL |
43.627 |
42.674 |
14.331 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
(2.146) |
3.424 |
(3.174) |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.477 |
0.444 |
0.373 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
(2.623) |
2.980 |
(3.547) |
|
|
|
|
|
|
|
Less |
TAX |
(0.715) |
0.966 |
(1.085) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
(1.908) |
2.014 |
(2.462) |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
(1.818) |
(3.832) |
(1.370) |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S |
(3.726) |
(1.818) |
(3.832) |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
23.852 |
29.860 |
1.941 |
|
|
TOTAL
EARNINGS |
23.852 |
29.860 |
1.941 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
(0.55) |
0.67 |
(1.59) |
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 |
(12.986) |
(3.590) |
(9.693) |
|
Net cash flow from operating activity |
(12.995) |
(3.635) |
(9.693) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
116.33 |
46.21 |
211.88 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
3.14 |
7.90 |
1.72 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
30.47 |
9.59 |
200.84 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
(0.19) |
0.35 |
(0.38) |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
(0.57) |
0.86 |
(0.77) |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.13 |
0.06 |
0.29 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.15 |
0.07 |
0.40 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.12 |
0.12 |
0.22 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
((PAT / Sales) * 100) |
% |
(4.64) |
4.41 |
(22.40) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
(5.30) |
5.69 |
(9.52) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
(6.10) |
6.07 |
(13.33) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
6.45 |
13.70 |
2.64 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
4.04 |
9.26 |
1.53 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.87 |
0.94 |
0.71 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
6.45 |
13.70 |
2.64 |
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 |
22.300 |
35.000 |
35.000 |
|
Reserves & Surplus |
(3.832) |
(1.818) |
(3.726) |
|
Net
worth |
18.468 |
33.182 |
31.274 |
|
|
|
|
|
|
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 |
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
|
10.989 |
45.714 |
41.086 |
|
|
|
315.998 |
(10.124) |
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
|
10.989 |
45.714 |
41.086 |
|
Profit
/ (Loss) |
(2.462) |
2.014 |
(1.908) |
|
|
(22.40%) |
4.41% |
(4.64%) |
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 |
No |
|
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 |
Note: Registered address has been shifted from the
C/o. Rajsi Enterprises A-41, Shivam Estate, Near Ujala Circle, Sarkhej,
Ahmedabad – 382210, Gujarat, India to the present address w.e.f. 01.11.2013.
PERFORMANCE OF THE
COMPANY
The company have achieved total turnover of INR 41.086 Million (Previous Year INR 45.714 Million) and the net loss for the year after tax INR 1.908 Million (Previous Year INR 2.014 Million after providing for the depreciation of INR 0.477 Million (Previous Year INR 0.444 Million.)
The main operation of the company is manufacturing and trading in all kinds of chemicals, dyes and intermediates and there are no diversification in the business activities of the company during the financial year director of the company are hopeful to achieve better results in the coming years further.
INDEX
OF CHARGES: NO CHARGES EXIST FOR THE COMPANY
FIXED ASSETS
- Computers
- Motor Car
- Furniture and Fixtures
- Plant and Machinery
- Office
equipment
- Electrical
Installation
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 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 63.41 |
|
|
1 |
INR 87.18 |
|
Euro |
1 |
INR 77.45 |
INFORMATION DETAILS
|
Analysis Done by
: |
PRS |
|
|
|
|
Report Prepared
by : |
KJL |
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.