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MIRA INFORM REPORT
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Report No.: |
486638 |
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Report Date : |
30.01.2018 |
IDENTIFICATION DETAILS
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Name : |
SKITES PHARMA PRIVATE LIMITED |
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Registered
Office : |
Floor-G, 15, Mehta Mahal, P L Khandke Marg, Mathew Road, Opera House,
Girgaon, Mumbai-400004, Maharashtra |
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Tel. No.: |
91-22-66172500 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 [SEVENTILAL KANTILAL & CO. – PARTNERSHIP
CONCERN] |
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Date of
Incorporation : |
16.03.2017 |
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Com. Reg. No.: |
11-292537 |
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Capital
Investment / Paid-up Capital : |
INR 0.100 Million [SKITES PHARMA PRIVATE LIMITED] INR 59.767 Million [SEVENTILAL KANTILAL & CO. – PARTNERSHIP CONCERN] |
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CIN No.: [Company Identification
No.] |
U24304MH2017PTC292537 |
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IEC No.: |
Not Divulged |
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GST No.: |
27AAYCS3442F1ZY |
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TIN No.: |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAYCS3442F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
· Distributor of Pharmaceutical Products. [Confirmed by Management] · Manufacturer, Formulate, Process and Marketing in all kinds of Pharmaceuticals, Antibiotics, Drugs, Medicines, Biologicals, Neutraceuticals, Healthcare, Ayurvedic, Dietary Supplement Products, Medicinal Preparations, Vaccines, Mixtures, Vitamins, Hormones, Herbals, Chemicals, Chemical Products, Dry Salters, Alkalies, Acids, Essences, Disinfectants, Fertilizers, Insecticides, Minerals, Petroleum Products, Oils, Foods, Toilataries, Surgical and Laboratory Equipments, Medicinal Preparations and to carry on the business of Bottling, Repacking, Processing of Tablets, Capsules, Syrups, Injections, Ointments etc. and to act as Chemists, Druggists, Buyers, Sellers, Agents, Consultants, Distributors and Stockists of all kinds of Pharmaceuticals and Allied Products. [Registered Activity] |
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No. of Employees
: |
40 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Maximum Credit Limit : |
USD 170700 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject was established as a partnership concern in the year 1932 and later on 16 March 2017 it got converted in private limited company. The subject is engaged as distributor of pharmaceutical products. As per available financials of March 2017, the revenue has increased to 25.82% as compared to its previous year but has reported thin profit margin during the year. Rating takes into consideration the satisfactory financial risk profile marked by adequate capital base and strong debt protection metric. Rating continues to derive strength from its long and established track record of its business operations backed by the entrepreneurial experience of partners in pharmaceutical industry. However, rating strengths are partially offset on account of absence of latest financial details and working capital intensive nature of operations in highly competitive pharmaceutical industry. Payment seems to be usually correct. In view of aforesaid, the subject can be considered for business dealings at usual trade terms and conditions. NOTE 1: The financials available are of “Partnership Concern”. NOTE 2: Site visit was conducted at the given address and our executive have successfully traced the subject. Our executive met Mr. Pratik Thakkar (Authorized Person) provided with contact number (#09619309010). As per our executive observation, it is a 7 storey building and the subject is situated on ground floor. The area of the premises is approximately 3340 SQ. FT. Location is easy to find near “Railway Station” as landmark. Locality seems to be commercial and area near the premise building seems to be upmarket. Further, our executive have sighted 10 employees at the premises and also sighted the name board of the subject on the given premise address. |
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 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
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 30.01.2018.
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION PARTED BY
|
Name : |
Mr. Pratik Thakkar |
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Designation : |
Authorised Person |
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Contact No.: |
91-9619309010 |
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Date : |
29.01.2018 |
LOCATIONS
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Registered Office : |
Floor-G, 15, Mehta Mahal, P L Khandke Marg, Mathew Road, Opera House,
Girgaon, Mumbai-400004, Maharashtra, India |
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Tel. No.: |
91-22-66172500 |
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Mobile No.: |
91-9619309010 [Mr. Pratik Thakkar] |
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Fax No.: |
Not Available |
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E-Mail : |
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Area : |
3340 Sq. Ft. |
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Location : |
Rented |
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Locality : |
Commercial |
DIRECTORS
AS ON: 31.03.2017
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Name : |
Mr. Samir Jayantilal Shah |
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Designation : |
Director |
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Address : |
3-B, Suvas Apartment, Rungta Lane, 68. F, Nepeansea Road,
Mumbai-400006, Maharashtra, India |
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Date of Appointment : |
16.03.2017 |
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DIN No.: |
00157396 |
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Name : |
Mr. Rohan Mahesh Shah |
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Designation : |
Director |
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Address : |
Flat No.19, 3rd Floor, Prakash Bldg. No. 01 28 Ridge Road,
Malabar Hill, Mumbai-400006, Maharashtra, India |
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Date of Appointment : |
16.03.2017 |
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DIN No.: |
02867201 |
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KEY EXECUTIVES
|
Name : |
Mr. Pratik Thakkar |
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Designation : |
Authorised Person |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Samir Jayantilal Shah |
5000 |
50.00 |
|
Rohan Mahesh Shah |
5000 |
50.00 |
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Total |
10000 |
100.00 |
BUSINESS DETAILS
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Line of Business : |
· Distributor of Pharmaceutical Products. [Confirmed by Management] · Manufacturer, Formulate, Process and Marketing in all kinds of Pharmaceuticals, Antibiotics, Drugs, Medicines, Biologicals, Neutraceuticals, Healthcare, Ayurvedic, Dietary Supplement Products, Medicinal Preparations, Vaccines, Mixtures, Vitamins, Hormones, Herbals, Chemicals, Chemical Products, Dry Salters, Alkalies, Acids, Essences, Disinfectants, Fertilizers, Insecticides, Minerals, Petroleum Products, Oils, Foods, Toilataries, Surgical and Laboratory Equipments, Medicinal Preparations and to carry on the business of Bottling, Repacking, Processing of Tablets, Capsules, Syrups, Injections, Ointments etc. and to act as Chemists, Druggists, Buyers, Sellers, Agents, Consultants, Distributors and Stockists of all kinds of Pharmaceuticals and Allied Products. [Registered Activity] |
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Products/ Services : |
Pharmaceutical Products |
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Brand Names : |
Not Available |
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Agencies Held : |
· Lupin Limited · Sun Pharma Limited · Sanofi India Limited · Johnson and Johnson · Ranbaxy Laboratories Limited |
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Exports : |
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Products : |
Not Available |
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Countries : |
Not Available |
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Imports : |
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Products : |
Not Available |
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Countries : |
Not Available |
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Terms : |
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Selling : |
Cheque |
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Purchasing : |
Cheque |
PRODUCTION STATUS: (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Retailers and End Users
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No. of Employees : |
40 (Approximately) |
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Bankers : |
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Facilities : |
[SEVENTILAL KANTILAL & CO. –
PARTNERSHIP CONCERN]
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Auditors : |
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Name : |
P.O. Dharia and Company Chartered Accountants |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
SKITES PHARMA PRIVATE
LIMITED
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
10000 |
Equity Shares |
INR 10/- each |
INR 0.100 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
10000 |
Equity Shares |
INR 10/- each |
INR 0.100 Million |
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SEVENTILAL
KANTILAL & CO. – PARTNERSHIP CONCERN
AS ON: 31.03.2017
|
Name of the Partner |
Balance
as at 01-04-2016 |
Amount
Introduced during the year |
Interest
for the year |
Profit
for the year |
Withdrawals
during the year |
Balance
as at 31-3-2017 |
|
Mahesh K. Shah |
3.176 |
2.750 |
0.343 |
0.140 |
0.828 |
5.580 |
|
Samir J. Shah |
55.716 |
29.200 |
4.120 |
0.384 |
36.217 |
53.208 |
|
Rohan M. Shah |
2.881 |
6.800 |
0.149 |
0.140 |
8.990 |
0.979 |
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Total |
61.773 |
38.750 |
4.612 |
0.664 |
46.035 |
59.767 |
FINANCIAL DATA
[all figures are
in INR Million]
[SEVENTILAL KANTILAL & CO. - PARTNERSHIP
CONCERN]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SHAREHOLDERS FUNDS |
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|
|
|
|
1] Partners Capital Account |
59.767 |
61.773 |
35.704 |
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2] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
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NETWORTH |
59.767 |
61.773 |
35.704 |
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LOAN FUNDS |
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|
1] Secured Loans |
11.406 |
3.072 |
4.083 |
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2] Unsecured Loans |
46.641 |
37.603 |
12.597 |
|
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TOTAL BORROWING |
58.047 |
40.675 |
16.680 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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|
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TOTAL |
117.814 |
102.448 |
52.384 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
6.152 |
7.086 |
6.112 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
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Inventories |
48.397
|
42.927
|
27.174 |
|
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Sundry Debtors |
62.451
|
56.682
|
21.806 |
|
|
Cash & Bank Balances |
9.977
|
6.865
|
6.883 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
4.175
|
2.643
|
5.128 |
|
Total
Current Assets |
125.000
|
109.117
|
60.991 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
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|
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|
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|
Other Current Liabilities |
11.988
|
12.905
|
12.304 |
|
|
Provisions |
1.350
|
0.850
|
2.415 |
|
Total
Current Liabilities |
13.338
|
13.755
|
14.719 |
|
|
Net Current Assets |
111.662
|
95.362
|
46.272 |
|
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|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
117.814 |
102.448 |
52.384 |
|
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
SALES |
|
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|
Sales |
680.795 |
541.043 |
322.364 |
|
|
|
Other Income |
5.433 |
3.827 |
3.556 |
|
|
|
TOTAL |
686.228 |
544.870 |
325.920 |
|
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Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
654.329 |
514.953 |
305.987 |
|
|
|
Administrative, Selling and Other expenses |
20.247 |
18.539 |
12.566 |
|
|
|
TOTAL |
674.576 |
533.492 |
318.553 |
|
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PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
11.652 |
11.378 |
7.367 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
9.212 |
6.887 |
4.988 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
2.440 |
4.491 |
2.379 |
|
|
|
|
|
|
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|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1.273 |
1.332 |
1.181 |
|
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|
|
|
|
|
|
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|
PROFIT/ (LOSS)
BEFORE TAX |
1.167 |
3.159 |
1.198 |
|
|
|
|
|
|
|
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|
Less |
TAX |
0.500 |
0.850 |
0.150 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
0.667 |
2.309 |
1.048 |
|
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 |
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|
|
|
|
|
Cash generated from operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net Cash flow from (used in) Operations |
NA |
NA |
NA |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
33.48 |
38.24 |
24.69 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
10.90 |
9.55 |
14.78 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.24 |
0.27 |
0.27 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
1.89 |
1.61 |
1.21 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.54 |
0.47 |
0.47 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.97 |
0.66 |
0.47 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.00 |
0.83 |
0.77 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.10 |
0.11 |
0.17 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
1.26 |
1.65 |
1.48 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
0.10 |
0.43 |
0.33 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
0.51 |
1.99 |
1.56 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
1.12 |
3.74 |
2.94 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
2.08 |
2.12 |
2.23 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.28 |
1.29 |
1.24 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.46 |
0.53 |
0.53 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.97 |
0.66 |
0.47 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
2.08 |
2.12 |
2.23 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
[SEVENTILAL KANTILAL & CO. - PARTNERSHIP
CONCERN]
DEBT EQUITY RATIO
|
Particulars |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Partner’s Capital Account |
35.704 |
61.773 |
59.767 |
|
Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
Net
worth |
35.704 |
61.773 |
59.767 |
|
Secured Loans |
4.083 |
3.072 |
11.406 |
|
Unsecured Loans |
12.597 |
37.603 |
46.641 |
|
Total
borrowings |
16.680 |
40.675 |
58.047 |
|
Debt/Equity
ratio |
0.467 |
0.658 |
0.971 |
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 |
322.364 |
541.043 |
680.795 |
|
|
|
67.836 |
25.830 |
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 |
322.364 |
541.043 |
680.795 |
|
Profit |
1.048 |
2.309 |
0.667 |
|
|
0.33% |
0.43% |
0.10% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
Yes |
|
5 |
Buyer visit details |
Yes |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
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 |
Yes |
|
17 |
Details of sister concerns |
No |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
Yes |
|
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 –
Partnership Concern |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years –
Partnership Concern |
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 |
Yes |
|
35 |
Negative Reporting by Auditors in the Annual
Report |
No |
OBSERVATION POINTS
|
Name of Company : |
SKITES PHARMA PRIVATE LIMITED |
|
|
|
|
Address : |
Floor-G, 15, Mehta Mahal, P L Khandke Marg, Mathew Road, Opera House,
Girgaon, Mumbai-400004, Maharashtra, India |
|
Contact No.: |
91-9619309010 |
|
|
|
|
Person to whom we met: |
Mr. Pratik Thakkar (Authorised Person) |
|
|
|
|
Name Board : |
Sighted |
|
|
|
|
Location: |
Easy |
|
|
|
|
Landmark (If Any): |
Railway Station |
|
|
|
|
Total Floors of the Building : |
7 Floors |
|
|
|
|
Subject situated on: |
Ground Floor |
|
|
|
|
Locality: |
Commercial |
|
|
|
|
Area of Premises : |
3340 Sq. Ft. |
|
|
|
|
Area : |
Upmarket |
|
|
|
|
No. of employees seen at premises: |
10 (Approximately) |
|
|
|
|
Visibility of
Items: |
·
Telephone ·
Computers ·
Air Conditioner ·
Office Equipment ·
Xerox Machine |
|
|
|
|
Proof of visit: |
Photos |
INDEX OF CHARGES: NO
CHARGES EXISTS FOR COMPANY
UNSECURED LOANS [SEVENTILAL
KANTILAL & CO. – PARTNERSHIP CONCERN]
|
PARTICULARS |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
From Others |
46.641 |
37.603 |
|
|
|
|
|
Total |
46.641 |
37.603 |
FIXED ASSETS:
Tangible Assets
·
Buildings
· Plant and Machinery
·
Air Conditioner
·
Computer
·
Furniture and Fixtures
·
Office Equipment
· Electricity Installation
· Fire Extinguishers
· Telephone System
· 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 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 63.55 |
|
UK Pound |
1 |
INR 89.82 |
|
Euro |
1 |
INR 78.87 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
IND |
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.