|
|
|
MIRA INFORM REPORT
|
Report No. : |
486356 |
|
Report Date : |
17.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
HUNGAMA .COM PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
SF-B-07, 2nd Floor, Art Guild House, Phoenix Market City, LBS Marg, Kurla (West), Mumbai – 400070, Maharashtra |
|
Tel. No.: |
91-22-24903344 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2016 |
|
|
|
|
Date of
Incorporation : |
17.01.2012 |
|
|
|
|
Com. Reg. No.: |
11-226152 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 22.716 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999MH2012PTC226152 |
|
|
|
|
IEC No.: |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCH8197E |
|
|
|
|
GSTIN : |
Not Divulged |
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Legal Form : |
Private Limited Liability Company. |
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|
|
|
Line of Business
: |
The Company is engaged in the business of distribution of content available on the company’s websites including Hungama.com directly to the end Consumer through Platforms like Internet and Mobile Handsets. (Registered activity) |
|
|
|
|
No. of Employees
: |
Information declined 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 |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is a subsidiary of “Hungama Digital Media Entertainment Private Limited’’. The company was incorporated in the year 2012. It is distribute various content available on the company’s websites directly to the end consumer by offering the same on an internet platform. Management has failed to file its financials with Registrar of Companies for the FY 2017. As per the available financial of 2016, the revenue of the company has increased by 7.12% but has incurred operational loss. The satisfactory financial profile of the company is marked by adequate networth base along with average debt coverage indicators. The rating takes into consideration equity infused by 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. However, rating is constrained on account of absence of latest financials and continue loss incurred by the company. Business is active. Payments are reported to be usually correct. 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
|
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 17.01.2018
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 BY
MANAGEMENT NON-COOPERATIVE (Tel. No.: 91-22-24903344)
LOCATIONS
|
Registered Office : |
SF-B-07, 2nd Floor, Art Guild House, Phoenix Market City, LBS Marg, Kurla (West), Mumbai – 400070, Maharashtra, India |
|
Tel. No.: |
91-22-24903344 |
|
Fax No.: |
91-22-71653355 |
|
E-Mail : |
|
|
Location : |
Owned |
|
Locality : |
Commercial |
|
|
|
|
Noida Office : |
B-2, 2nd Floor, Trinity Towers, Sector 7, Noida – 201301, Uttar Pradesh, India |
|
Tel. No.: |
91-120-4113344 |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Neeraj Roy |
|
Designation : |
Director |
|
Address : |
602, RNA Aurovilla, 6th Floor, Near Poddar School, Jain Daresar Marg, Opposite Jain Mandir, Santacruz (West), Mumbai - 400054, Maharashtra, India |
|
Date of Birth/Age : |
13.08.1967 |
|
Date of Appointment : |
17.01.2012 |
|
DIN No. : |
00285875 |
|
|
|
|
Name : |
Mr. Rajiv Ambrish Agarwal |
|
Designation : |
Director |
|
Address : |
Chamaria
Niwas, 3rd Floor, 41 Mahant Road, Vile Parle (East), Mumbai –
400057, Maharashtra, India |
|
Date of Birth/Age : |
28.03.1971 |
|
Date of Appointment : |
17.01.2012 |
|
DIN No. : |
00379990 |
|
|
|
|
Name : |
Mr. Siddhartha Roy |
|
Designation : |
Director |
|
Address : |
C-161, Sector - 41, Noida - 201301, Uttar Pradesh,
India |
|
Date of Birth/Age : |
30.09.1976 |
|
Date of Appointment : |
17.01.2012 |
|
DIN No. : |
02733776 |
|
|
|
|
Name : |
Mr. Vishal Gupta |
|
Designation : |
Director |
|
Address : |
604, A-Wing, 6th Floor, Dosti Blossoms, Dosti Acres, Wadala
(East), Mumbai – 4000037, Maharashtra, India |
|
Date of Birth/Age : |
24.09.1977 |
|
Date of Appointment : |
03.07.2014 |
|
DIN No. : |
01913013 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2016
|
Names of Shareholders |
|
No. of Shares |
|
Hungama Digital Media Entertainment Private Limited, India |
|
944297 |
|
Neeraj Roy (As nominee of Hungama Digital Media Entertainment Private Limited) |
|
1 |
|
Bessemer Venture Partners Trust, Mauritius |
|
85702 |
|
|
|
|
|
Total |
|
1030000 |
|
Names of Shareholders (Preference Shares-SERIES-A) |
|
No. of Shares |
|
Intel Capital Corporation |
|
305235 |
|
|
|
|
|
Total |
|
305235 |
|
Names of Shareholders (Preference Shares-SERIES-B) |
|
No. of Shares |
|
Intel Capital Corporation |
|
67003 |
|
Bessemer Venture Partners Trust |
|
155822 |
|
|
|
|
|
Total |
|
222825 |
|
Names of Shareholders (Preference Shares-SERIES-C) |
|
No. of Shares |
|
Intel Capital Corporation |
|
30722 |
|
Bessemer Venture Partners Trust |
|
30722 |
|
|
|
|
|
Total |
|
61444 |
|
Names of Shareholders (Preference Shares-SERIES-C2) |
|
No. of Shares |
|
Bessemer Venture Partners Trust |
|
31291 |
|
|
|
|
|
Total |
|
31291 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2016
|
Category |
Percentage |
|
Promoter - Bodies
corporate |
91.68 |
|
Public – Venture Capital |
8.32 |
|
Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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||||
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
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Facilities : |
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Auditors : |
|
|
Name : |
Gandhi Paleja and Associates Chartered Accountants |
|
Address : |
I-12, Everest Building, 10th Floor, Tardeo, Mumbai – 400034, Maharashtra, India |
|
Tel. No.: |
91-22-23520250/ 23523805 |
|
Fax No.: |
91-22-23525925 |
|
E-Mail : |
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|
Income-tax
PAN of auditor or auditor's firm : |
AAAFG0989J |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
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|
|
|
|
Memberships : |
Not Available |
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|
|
|
Collaborators : |
Not Available |
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|
|
|
|
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|
Holding Company : |
Hungama Digital Media Entertainment Private Limited U12000MH1999PTC119259 |
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Fellow Subsidiaries : |
|
|
|
|
|
Associates and Joint Ventures including Associates and Joint Ventures
of Holding Company : |
|
|
|
|
|
Persons owning interest in voting power and their relatives having a
significant influence : |
|
CAPITAL STRUCTURE
After 30.09.2016
Authorised Capital : INR 29.000 Million
Issued, Subscribed & Paid-up Capital : INR 16.405
Million
As on 31.03.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1235000 |
Equity Shares |
INR 10/- each |
INR 12.350 Million |
|
320000 |
Compulsorily Convertible Series “A” Preference Shares |
INR 20/- each |
INR 6.400 Million |
|
312500 |
Compulsorily Convertible Series “B” Preference Shares |
INR 20/- each |
INR 6.250 Million |
|
200000 |
Compulsorily Convertible Series “C” Preference Shares |
INR 20/- each |
INR 4.000 Million |
|
|
Total |
|
INR 29.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1030000 |
Equity Shares |
INR 10/- each |
INR 10.300
Million |
|
305235 |
Compulsorily Convertible Series “A” Preference Shares |
INR 20/- each |
INR 6.105 Million |
|
222825 |
Compulsorily Convertible Series “B” Preference Shares |
INR 20/- each |
INR 4.456 Million |
|
61444 |
Compulsorily Convertible Series “C” Preference Shares |
INR 20/- each |
INR 1.229 Million |
|
31291 |
Compulsorily Convertible Series “C2” Preference Shares |
INR 20/- each |
INR 0.626 Million |
|
|
Total |
|
INR 22.716
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 |
22.716 |
20.861 |
16.405 |
|
(b) Reserves &
Surplus |
273.154 |
512.350 |
273.745 |
|
(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) |
295.870 |
533.211 |
290.150 |
|
|
|
|
|
|
(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 |
12.281 |
8.664 |
4.020 |
|
Total Non-current
Liabilities (3) |
12.281 |
8.664 |
4.020 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
650.544 |
293.620 |
311.083 |
|
(b) Trade payables |
563.216 |
428.638 |
199.507 |
|
(c) Other current
liabilities |
24.350 |
23.936 |
7.641 |
|
(d) Short-term provisions |
26.282 |
6.167 |
9.200 |
|
Total Current Liabilities
(4) |
1264.392 |
752.361 |
527.431 |
|
|
|
|
|
|
TOTAL |
1572.543 |
1294.236 |
821.601 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
8.410 |
6.671 |
5.337 |
|
(ii) Intangible Assets |
128.364 |
9.800 |
7.700 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets
under development |
0.900 |
29.640 |
10.194 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
3.728 |
0.405 |
0.131 |
|
(e) Other Non-current
assets |
1.121 |
0.000 |
0.000 |
|
Total Non-Current Assets |
142.523 |
46.516 |
23.362 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
301.642 |
352.004 |
278.158 |
|
(d) Cash and cash
equivalents |
789.101 |
695.473 |
401.919 |
|
(e) Short-term loans and
advances |
267.177 |
142.936 |
113.100 |
|
(f) Other current assets |
72.100 |
57.307 |
5.062 |
|
Total Current Assets |
1430.020 |
1247.720 |
798.239 |
|
|
|
|
|
|
TOTAL |
1572.543 |
1294.236 |
821.601 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Income |
611.268 |
570.633 |
345.562 |
|
|
Other Income |
64.947 |
57.914 |
37.774 |
|
|
TOTAL |
676.215 |
628.547 |
383.336 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Direct Operations Cost |
641.391 |
405.432 |
210.095 |
|
|
Employees benefits
expense |
193.946 |
128.216 |
125.366 |
|
|
Other expenses |
534.009 |
480.433 |
140.198 |
|
|
TOTAL |
1369.346 |
1014.081 |
475.659 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
(693.131) |
(385.534) |
(92.323) |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
49.036 |
16.200 |
17.000 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
(742.167) |
(401.734) |
(109.323) |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
22.876 |
4.879 |
2.578 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
(765.043) |
(406.613) |
(111.901) |
|
|
|
|
|
|
|
Less |
TAX |
2.300 |
0.325 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
(767.343) |
(406.938) |
(111.901) |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
51.414 |
3.375 |
2.063 |
|
|
TOTAL EARNINGS |
51.414 |
3.375 |
2.063 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
(744.99) |
(395.09) |
(108.64) |
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
(718.765) |
(373.818) |
(214.114) |
|
Net cash flow from operating activity |
(687.286) |
(349.991) |
(254.278) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
180.12 |
225.16 |
293.80 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
2.03 |
1.62 |
1.24 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
(5.03) |
(8.36) |
(3.97) |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.80 |
0.58 |
0.64 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
2.20 |
0.55 |
1.07 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
4.27 |
1.41 |
1.82 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.47 |
0.09 |
0.08 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
(14.14) |
(23.80) |
(5.43) |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
((PAT / Sales) * 100) |
% |
(125.53) |
(71.31) |
(32.38) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
(48.80) |
(31.44) |
(13.62) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
(259.35) |
(76.32) |
(38.57) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.13 |
1.66 |
1.51 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
1.13 |
1.66 |
1.51 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.19 |
0.41 |
0.35 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
28.64 |
14.08 |
18.96 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.13 |
1.66 |
1.51 |
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 |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
16.405 |
20.861 |
22.716 |
|
Reserves & Surplus |
273.745 |
512.350 |
273.154 |
|
Net
worth |
290.150 |
533.211 |
295.870 |
|
|
|
|
|
|
Long Term borrowings |
0.000 |
0.000 |
0.000 |
|
Short Term borrowings |
311.083 |
293.620 |
650.544 |
|
Total
borrowings |
311.083 |
293.620 |
650.544 |
|
Debt/Equity
ratio |
1.072 |
0.551 |
2.199 |
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
|
345.562 |
570.633 |
611.268 |
|
|
|
65.132 |
7.121 |
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
|
345.562 |
570.633 |
611.268 |
|
Profit
/ (Loss) |
(111.901) |
(406.938) |
(767.343) |
|
|
(32.38%) |
(71.31%) |
(125.53%) |
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 |
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% |
-- |
|
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 |
CORPORATE INFORMATION
Subject was incorporated in Mumbai, Maharashtra, India on 17th January, 2012. The Company is engaged in the business of distribution of content available on the company’s websites including Hungama.com directly to the end Consumer through Platforms like Internet and Mobile Handsets.
RESULTS OF
OPERATIONS
During the year, the company has registered a total revenue of INR
676.215 Million (Previous year INR 628.547 Million) as against total
expenditure of INR 1369.346 Million (Previous year 1014.081 Million). During
the financial year, the company has made a loss of INR 765.043 Million
(Previous year 406.613 Million).
INDEX
OF CHARGES: NO CHARGES EXIST FOR THE COMPANY
FIXED ASSETS
- Computers
- Computer Services
- Furniture and Fittings
- Office Equipments
- Plant and Machinery
- 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, 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
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
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 |
NO |
|
--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.