|
|
|
MIRA INFORM REPORT
|
Report No. : |
487849 |
|
Report Date : |
23.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
GESTAMP AUTOMOTIVE INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
E1 (Part), MIDC Industrial Area (Phase III), Village Nigoje Mhalunge,
Kharabwadi, Taluka Khed, Chakan, Pune – 410501, Maharashtra |
|
Tel. No.: |
91-2135-396302/ 396300 / 396359 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
16.05.2008 |
|
|
|
|
Com. Reg. No.: |
11-132030 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 30.892
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28990PN2008FTC132030 |
|
|
|
|
IEC No.: |
3108011243 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCG1520D |
|
|
|
|
GSTIN : |
Not Divulged |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
|
|
|
|
Line of Business
: |
(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++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a joint venture between ‘’Gestamp Polska Sp.z.o.o.,
Poland’’ and ‘’Gonvarri Corporation Financiera, S.L., Spain’’ and was
established in the year 2008. It is a manufacturer of various auto
components. For the financial year ended 2017, the company has reported slight dip
its revenue as compared to the previous year but has managed to maintain a
fair profit margin of 13.49% The sound financial profile of the company marked by adequate net worth
base along with strong debt coverage indicators due to debt free balance
sheet profile. Rating takes into consideration the subject’s healthy Earnings Per
Share of INR 288.29 against the Face Value of INR 10. Rating also takes into account strong financial support the company
receives from its holding entities and its experienced management team. Payment terms 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
|
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 23.01.2018
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: 91-2135-396300)
GIVEN NUMBER (I.E. 91-2135-36302) IS INCORRECT.
LOCATIONS
|
Registered Office : |
E1 (Part), MIDC Industrial Area (Phase III), Village Nigoje Mhalunge,
Kharabwadi, Taluka Khed, Chakan, Pune – 410501, Maharashtra, India |
|
Tel. No.: |
91-2135-396302/ 396300 / 396359 |
|
Mobile No.: |
91-9881092887 (Mr. Sachanand Murlidhar Dakhneja) |
|
Fax No.: |
91-2135-396555 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Francisco Joes Riberas Mera |
|
Designation : |
Director |
|
Address : |
Calle Alfonso XII – 16, |
|
Date of Birth/Age : |
01.06.1964 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
16.05.2008 |
|
DIN No.: |
01732230 |
|
|
|
|
Name : |
Mr. Francisco Lopez Pena |
|
Designation : |
Director |
|
Address : |
Calle Buho, 7 Pozuelo De Alarcon, Madrid, Spain – 28223 |
|
Date of Birth/Age : |
05.03.1959 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
30.09.2009 |
|
DIN No.: |
01790019 |
|
|
|
|
Name : |
Mr. Juan Maria Riberas Mera |
|
Designation : |
Director |
|
Address : |
Prolongacion De Embajadores S/N, Madrid, Spain – 28053 |
|
Date of Birth/Age : |
06.10.1968 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
16.05.2008 |
|
DIN No.: |
02146671 |
|
|
|
|
Name : |
Mr. Jeffrey Winston Wilson |
|
Designation : |
Additional Director |
|
Address : |
723, Ann St Birmingham, USA MI 480009 |
|
Date of Birth/Age : |
01.04.1960 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
11.04.2012 |
|
DIN No.: |
05150375 |
|
|
|
|
Name : |
Mr. Raman Nanda |
|
Designation : |
Additional Director |
|
Address : |
V-16, Sacred Heart Town, Wanowri, Pune – 411040, Maharashtra, India |
|
Date of Birth/Age : |
15.03.1956 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
11.04.2012 |
|
DIN No.: |
00078198 |
|
|
|
|
Name : |
Mr. Sachanand Murlidhar Dakhneja |
|
Designation : |
Additional Director |
|
Address : |
Flat No. 4, Building No. B, Dhanraj Housing Society, Tapovan Road, Pimpri Colony Pune – 411017, Maharashtra, India |
|
Date of Birth/Age : |
04.02.1968 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
20.10.2014 |
|
PAN No.: |
AAYPD8843N |
|
DIN No.: |
06998364 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Shareholders |
No. of Shares |
%age of holding |
|
Gestamp Polska, SP
|
1544595 |
50.00 |
|
Gonvarri Corporacion Financiera S.L |
1544595 |
50.00 |
|
|
|
|
|
Total |
3089190 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 04.09.2017
|
Category |
Percentage |
|
Promoter - Bodies
corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
(Registered activity) |
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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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Imports : |
Not Divulged |
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||||||
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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 : |
|
|
Auditors : |
|
|
Name : |
S R B C and Company LLP Chartered Accountants |
|
Address : |
C-401, 4th Floor, Panchshil Tech Park Near Don, Bosco School, Yerwada, Pune, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
ACHFS9117R |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
|
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|
Ultimate holding company : |
|
|
|
|
|
Joint venture Partners : (Enterprises that jointly control the Company) : |
|
|
|
|
|
Fellow Subsidiary Company : |
U28112TN2011FTC081706
|
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4999998 |
Equity Shares |
INR 10/- each |
INR 50.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3089190 |
Equity Shares |
INR 10/- each |
INR 30.892
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are in
Rupees 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 |
30.892 |
30.892 |
30.892 |
|
(b) Reserves and Surplus |
3660.510 |
2769.921 |
2137.661 |
|
(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) |
3691.402 |
2800.813 |
2168.553 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
112.247 |
62.859 |
165.121 |
|
(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) |
112.247 |
62.859 |
165.121 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
959.339 |
719.746 |
1007.054 |
|
(c) Other
current liabilities |
220.082 |
303.160 |
4243.791 |
|
(d) Short-term
provisions |
113.469 |
210.378 |
125.729 |
|
Total Current
Liabilities (4) |
1292.890 |
1233.284 |
5376.574 |
|
|
|
|
|
|
TOTAL |
5096.539 |
4096.956 |
7710.248 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
2205.856 |
2328.871 |
2514.814 |
|
(ii)
Intangible Assets |
7.450 |
12.823 |
13.497 |
|
(iii) Tangible assets
capital work-in-progress |
2.710 |
12.740 |
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) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
95.694 |
168.655 |
170.450 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
2311.710 |
2523.089 |
2698.761 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
614.919 |
580.807 |
515.619 |
|
(c) Trade
receivables |
793.454 |
587.313 |
575.824 |
|
(d) Cash and
bank balances |
1308.998 |
252.360 |
3732.640 |
|
(e)
Short-term loans and advances |
32.588 |
52.319 |
62.552 |
|
(f) Other
current assets |
34.870 |
101.068 |
124.852 |
|
Total
Current Assets |
2784.829 |
1573.867 |
5011.487 |
|
|
|
|
|
|
TOTAL |
5096.539 |
4096.956 |
7710.248 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
6600.393 |
6635.870 |
5952.567 |
|
|
Other Income |
83.772 |
201.912 |
1137.842 |
|
|
TOTAL |
6684.165 |
6837.782 |
7090.409 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
4361.222 |
4428.555 |
3877.356 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(31.359) |
(49.211) |
(5.170) |
|
|
Employee benefit expense |
227.326 |
214.769 |
184.551 |
|
|
CSR expenditure |
5.200 |
1.483 |
0.000 |
|
|
Other expenses |
515.470 |
545.888 |
451.959 |
|
|
TOTAL |
5077.859 |
5141.484 |
4508.696 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
1606.306 |
1696.298 |
2581.713 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.136 |
293.258 |
251.673 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
1606.170 |
1403.040 |
2330.040 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
176.701 |
421.481 |
416.076 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
1429.469 |
981.559 |
1913.964 |
|
|
|
|
|
|
|
Less |
TAX |
538.880 |
349.298 |
601.297 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
890.589 |
632.261 |
1312.667 |
|
|
|
|
|
|
|
|
Profit (loss) of minority
interest |
0.000 |
0.000 |
0.000 |
|
|
Share of profit (loss) of
associates |
0.000 |
0.000 |
0.000 |
|
|
Total profit (loss) for
period |
890.589 |
632.261 |
1312.667 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
2.001 |
3.144 |
0.000 |
|
|
TOTAL EARNINGS |
2.001 |
3.144 |
0.000 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
349.598 |
431.449 |
0.000 |
|
|
Capital Goods |
0.000 |
130.838 |
0.000 |
|
|
TOTAL IMPORTS |
349.598 |
562.287 |
0.000 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
288.292 |
204.669 |
424.923 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
0.000 |
0.001 |
3970.358 |
|
Net cash flows from (used in) operations |
1675.596 |
1174.148 |
1866.850 |
|
Net cash flows from (used in) operating activities |
1110.459 |
739.940 |
1470.964 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days [Sundry Debtors / Income * 365] |
|
43.88 |
32.30 |
35.31 |
|
|
|
|
|
|
|
Account Receivables Turnover [Income / Sunday Debtors] |
|
8.32 |
11.30 |
10.34 |
|
|
|
|
|
|
|
Average Payment Days [Sundry Creditors /
Purchases * 365] |
|
80.29 |
59.32 |
94.80 |
|
|
|
|
|
|
|
Inventory Turnover [Operating Income /
Inventories] |
|
2.61 |
2.92 |
5.01 |
|
|
|
|
|
|
|
Asset Turnover [Operating Income / Net Fixed
Assets] |
|
0.72 |
0.72 |
1.02 |
LEVERAGE RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio [(Borrowing + Current Liabilities) / Total Assets] |
|
0.25 |
0.30 |
1.21 |
|
|
|
|
|
|
|
Debt Equity Ratio (Borrowings / NetWorth) |
|
0.00 |
0.00 |
1.83 |
|
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / NetWorth) |
|
0.35 |
0.44 |
2.48 |
|
|
|
|
|
|
|
Fixed Assets to NetWorth (Net Fixed Assets /
NetWorth) |
|
0.60 |
0.84 |
1.17 |
|
|
|
|
|
|
|
Interest Coverage Ratio [PBIT / Financial
Charges] |
|
11811.07 |
5.78 |
10.26 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin [(PAT / Sales) * 100] |
(%) |
13.49 |
9.53 |
22.05 |
|
|
|
|
|
|
|
Return on Total Assets [(PAT / Total Assets)
* 100] |
(%) |
17.47 |
15.43 |
17.02 |
|
|
|
|
|
|
|
Return on Investment (ROI) [(PAT / NetWorth)
* 100] |
(%) |
24.13 |
22.57 |
60.53 |
SOLVENCY RATIO
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio [Current Assets / Current Liabilities] |
|
2.15 |
1.28 |
0.93 |
|
|
|
|
|
|
|
Quick Ratio [(Current Assets - Inventories) /
Current Liabilities] |
|
1.68 |
0.81 |
0.84 |
|
|
|
|
|
|
|
G-Score Ratio Financial [NetWorth / Total
Assets] |
|
0.72 |
0.68 |
0.28 |
|
|
|
|
|
|
|
G-Score Ratio Debt [Debts / Equity Capital] |
|
0.00 |
0.00 |
128.52 |
|
|
|
|
|
|
|
G-Score Ratio Liquidity [Total Current
Assets / Total Current Liabilities] |
|
2.15 |
1.28 |
0.93 |
Total Liability =
Short-term Debt + Long-term Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
30.892 |
30.892 |
30.892 |
|
Reserves & Surplus |
2137.661 |
2769.921 |
3660.510 |
|
Net
worth |
2168.553 |
2800.813 |
3691.402 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Current maturities of
long-term debts |
3970.358 |
0.001 |
0.000 |
|
Total
borrowings |
3970.358 |
0.001 |
0.000 |
|
Debt/Equity
ratio |
1.831 |
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 |
5952.567 |
6635.870 |
6600.393 |
|
|
|
11.479 |
(0.535) |
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 |
5952.567 |
6635.870 |
6600.393 |
|
Profit/ (Loss) |
1312.667 |
632.261 |
890.589 |
|
|
22.05
% |
9.53
% |
13.49
% |
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 |
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) |
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
The Company incorporated on May 16, 2008. The Company is jointly controlled by Gestamp Polska, Sp. z. o. o, Poland and Gonvarri Corporacion Financiera, S.L., Spain, and its ultimate holding company is Gestamp Automcion, S.A., Spain. The Company is engaged in manufacturing of various auto components. The CIN of the Company is U28990PN2008FTC132030.
THE STATE OF COMPANY AFFAIRS:
The Company is supplier of various stamping press parts to Volkswagen India Private Limited (VIPL) for its Vento, Polo, Rapid and Ameo models. The company continued to do the business with existing products as no new models have been introduced by the customer.
INDEX
OF CHARGES: NO CHARGES EXIST FOR THE COMPANY
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
Guarantees |
1.500 |
80.193 |
|
Other money for which company is contingently liable |
147.656 |
146.789 |
|
Total |
149.156 |
226.982 |
FIXED ASSETS
·
Land
·
Buildings
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Computer Equipments
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or investigation
registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 63.89 |
|
|
1 |
INR 88.60 |
|
Euro |
1 |
INR 78.12 |
INFORMATION DETAILS
|
Information Gathered
by : |
PRT |
|
|
|
|
Analysis Done by
: |
PRY |
|
|
|
|
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.