|
|
|
MIRA INFORM REPORT
|
Report No. : |
512646 |
|
Report Date : |
01.06.2018 |
IDENTIFICATION DETAILS
|
Name : |
BOEHRINGER INGELHEIM INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
1102, 11th Floor, Hallmark Business Plaza, Gurunanak Hospital Road, Near Gurunanak Hospital, Bandra (East), Mumbai – 400051, Maharashtra |
|
Tel. No.: |
91-22-26456477 |
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|
Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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|
Date of
Incorporation : |
11.12.2003 |
|
|
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|
Com. Reg. No.: |
11-143499 |
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|
|
Capital
Investment / Paid-up Capital : |
INR 64.696 Million |
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|
|
|
CIN No.: [Company Identification
No.] |
U24230MH2003PTC143499 |
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|
|
|
IEC No.: [Import-Export
Code No.] |
0304004189 |
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|
GSTN : [Goods & Service Tax
Registration 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.] |
AACCB2979C |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The Company is in the business of marketing, sales and distribution of specialised pharmaceutical and consumer health care products. (Registered activity) |
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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+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Status : |
Good |
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|
|
Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a wholly owned subsidiary of “Boehringer Ingelheim Auslandsbeteiligungs GmbH, Germany” and was incorporated in the year 2003. It is having good track. For the financial year 2017, the company has increased its revenue from operation as compared to previous year and achieved decent profitability margin of 7.67%. Rating takes into consideration sound financial profile of the company marked by healthy networth base and low debt balance sheet. Further, the company also derives strength from its strong managerial and financial support received from its holding entity, well established track records of business operation along with market position. Trade relations are reported as fair. Payments are seems to be regular. In
view of established market position, the company can be considered good for
normal business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
NOT AVAILABLE
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2018.
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 01.06.2018
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DENIED
MANAGEMENT NON-COOPERATIVE (Tel. No.: 91-22-26456477)
MOBILE NO.: 91-9619083763 – CONTINUOUSLY RINGING
LOCATIONS
|
Registered Office/ Mailing Address : |
1102, 11th Floor, Hallmark Business Plaza, Gurunanak Hospital Road, Near Gurunanak Hospital, Bandra (East), Mumbai – 400051, Maharashtra, India |
|
Tel. No.: |
91-22-26456477 |
|
Mobile No.: |
91-9619083763 (Mr. Anup Datta) |
|
Fax No.: |
91-22-26456163 |
|
E-Mail : |
webmaster@ing.boehringer-ingelheim.com
ravindra.vaidya@boehringer-ingelheim.com
|
|
Website : |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Sharad Tyagi |
|
Designation : |
Managing director |
|
Address : |
20/133A, T A Pai CHS Limited, Dr. Ambedkar Road, Jeevan Dhara, Opposite Vijaya Bank, Bandra (West), Mumbai – 400050 , Maharashtra, India |
|
Date of Birth/Age : |
01.11.1961 |
|
Qualification : |
BE |
|
Date of Appointment : |
01.12.2009 |
|
PAN No.: |
AAAPT0436F |
|
DIN No.: |
00371842 |
|
|
|
|
Name : |
Mr. Sandipkumar Rameshchandra Agrawal |
|
Designation : |
Director |
|
Address : |
Flat No.301 Wing D, Gayatri Avenue,Thakur Complex, Next to
Asha Nagar 90ft Rd W E Highway, Kandivali East, Mumbai -400101, Maharashtra, India |
|
Date of Appointment : |
11.10.2017 |
|
DIN No.: |
07958499 |
|
|
|
|
Name : |
Delvin Jacob Mathews |
|
Designation : |
Additional Director |
|
Address : |
Chirayil House, Perumpaikad P. O, Kottayam – 686016, Kerala, India |
|
Date of Appointment : |
15.03.2017 |
|
DIN No.: |
07747171 |
KEY EXECUTIVES
|
Name : |
Sonal Manish Sharma |
|
Designation : |
Company Secretary |
|
Address : |
103A, Sundar Baug, Mathuradas Road, Kandivali West, Mumbai
-400067, Maharashtra, India |
|
Date of Appointment : |
11.05.2017 |
|
PAN No.: |
BPEPS0400L |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Boehringer Ingelheim Auslandsbeteiligungs GmbH, Germany |
|
6469604 |
|
Boehringer Ingelheim International GmbH, Germany |
|
1 |
|
Total |
|
6469605 |
Equity Share Break up (Percentage of Total Equity)
AS ON 29.11.2017
|
Category |
Percentage |
|
Promoters- Body corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is in the business of marketing, sales and distribution of specialised pharmaceutical and consumer health care products. (Registered activity) |
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Products / Services
: |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information denied by the management |
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Bankers : |
|
|
Auditors : |
|
|
Name : |
Price Waterhouse and Company Bangalore LLP Chartered Accountants |
|
Address : |
2 5 2 Veer Savarkar Marg Shivaji Park, Dadar |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AADFP9359C |
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Memberships : |
Not Available |
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|
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Collaborators : |
Not Available |
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|
Enterprise
where control exists: |
* No transactions during the year. |
|
|
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|
Parties under common control**: |
** The list of parties above have been limited to those with whom transactions have taken place during the year or balances are outstanding as at the year-end. |
CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6469605 |
Equity Shares |
INR 10/- each |
INR 64.696 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6469605 |
Equity Shares |
INR 10/- each |
INR 64.696 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
64.696 |
31.220 |
26.950 |
|
(b) Reserves and Surplus |
2012.946 |
100.352 |
(4.450) |
|
(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) |
2077.642 |
131.572 |
22.500 |
|
|
|
|
|
|
(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 |
13.043 |
12.064 |
10.010 |
|
(d) long-term
provisions |
92.442 |
68.531 |
52.401 |
|
Total Non-current
Liabilities (3) |
105.485 |
80.595 |
62.411 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
1039.740 |
929.491 |
0.000 |
|
(b) Trade
payables |
434.478 |
393.339 |
975.097 |
|
(c) Other
current liabilities |
276.584 |
218.604 |
212.258 |
|
(d) Short-term
provisions |
147.420 |
89.738 |
35.236 |
|
Total Current
Liabilities (4) |
1898.222 |
1631.172 |
1222.591 |
|
|
|
|
|
|
TOTAL |
4081.349 |
1843.339 |
1307.502 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
47.882 |
47.225 |
19.871 |
|
(ii)
Intangible Assets |
1287.283 |
1.088 |
0.711 |
|
(iii) Tangible assets
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) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
371.397 |
105.218 |
85.110 |
|
(e) Other
Non-current assets |
6.010 |
2.639 |
0.795 |
|
Total Non-Current
Assets |
1712.572 |
156.170 |
106.487 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1255.913 |
695.138 |
529.267 |
|
(c) Trade
receivables |
898.936 |
735.290 |
380.666 |
|
(d) Cash and
bank balances |
62.501 |
138.823 |
188.843 |
|
(e)
Short-term loans and advances |
119.176 |
117.918 |
102.239 |
|
(f) Other
current assets |
32.251 |
0.000 |
0.000 |
|
Total Current
Assets |
2368.777 |
1687.169 |
1201.015 |
|
|
|
|
|
|
TOTAL |
4081.349 |
1843.339 |
1307.502 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
5034.428 |
3287.066 |
2349.368 |
|
|
Other Income |
9.354 |
8.489 |
244.361 |
|
|
TOTAL |
5043.782 |
3295.555 |
2593.729 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
1.398 |
0.000 |
0.000 |
|
|
Purchases of
Stock-in-Trade |
3416.371 |
1804.597 |
1419.868 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(558.096) |
(165.870) |
(187.138) |
|
|
Employee benefit expense |
884.979 |
787.179 |
600.336 |
|
|
Other expenses |
1149.313 |
877.192 |
897.710 |
|
|
Exceptional items |
(511.102) |
0.000 |
0.000 |
|
|
TOTAL |
4382.863 |
3303.098 |
2730.776 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
660.919 |
(7.543) |
(137.047) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
123.325 |
56.681 |
4.698 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
537.594 |
(64.224) |
(141.745) |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
33.602 |
16.705 |
21.052 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
503.992 |
(80.929) |
(162.797) |
|
|
|
|
|
|
|
Less |
TAX |
117.921 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
386.071 |
(80.929) |
(162.797) |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
59.68 |
(25.92) |
(52.15) |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
|
|
|
|
|
Cash generated from operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net cash flows from (used in) operations |
(235.281) |
(1054.111) |
(453.456) |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
(899.062) |
(1066.972) |
(466.400) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
65.17 |
81.65 |
59.14 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
5.60 |
4.47 |
6.17 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
46.40 |
79.56 |
250.66 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.53 |
(0.01) |
(0.26) |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.50 |
(0.16) |
(6.66) |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.47 |
0.88 |
0.94 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.50 |
7.06 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.91 |
12.40 |
54.34 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.64 |
0.37 |
0.91 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
5.36 |
(0.13) |
(29.17) |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
7.67 |
(2.46) |
(6.93) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
9.46 |
(4.39) |
(12.45) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
18.58 |
(61.51) |
(723.54) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.25 |
1.03 |
0.98 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.59 |
0.61 |
0.55 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.51 |
0.07 |
0.02 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
16.07 |
29.77 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.25 |
1.03 |
0.98 |
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 |
26.950 |
31.220 |
64.696 |
|
Reserves & Surplus |
(4.450) |
100.352 |
2012.946 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
22.500 |
131.572 |
2077.642 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
929.491 |
1039.740 |
|
Total
borrowings |
0.000 |
929.491 |
1039.740 |
|
Debt/Equity
ratio |
0.000 |
7.065 |
0.500 |
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 |
2349.368 |
3287.066 |
5034.428 |
|
|
|
39.913 |
53.159 |
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 |
2349.368 |
3287.066 |
5034.428 |
|
Profit/ (Loss) |
(162.797) |
(80.929) |
386.071 |
|
|
(6.93
%) |
(2.46
%) |
7.67
% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
No |
|
21 |
Banking facility details |
No |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGE: NO CHARGES EXISTS FOR COMPANY
COMPANY PROFILE
Subject was incorporated on December 11, 2003 under the Companies Act, 1956. The Company is a subsidiary of Boehringer Ingelheim Auslandsbeteiligungs GmbH, a German based Company having many manufacturing units under its fold in different countries. The Company is in the business of manufacture, marketing, sales and distribution of specialized pharmaceutical, animal healthcare and consumer health care products. The Company carries out activities of importing life saving pharmaceutical drugs/ animal health products (manufactured by the Boehringer Inglheim group of companies), locally manufactures certain animal healthcare products, procures consumer healthcare products and also renders services to Boehringer Ingelheim group of companies (under service agreements) towards administration, registration, marketing and marketing research, medical services, clinical research and development of products, which the parent Company intends to introduce in India.
REVIEW OF BUSINESS OPERATIONS AND FUTURE
PROSPECTS
The company is in the business of marketing, sales and distribution of specialized pharmaceutical. The Company carries out activities of importing life-saving pharmaceutical drugs/ animal health products (manufactured by the Boehringer Ingelheim group of companies), and also renders services to Boehringer Ingelheim group of companies (under service agreements) towards administration, registration, marketing and marketing research, medical services, clinical research and development of products, which the parent Company intends to introduce in India.
During the year as a part of global agreement, Boehringer Ingelheim group through BII (BI india’s ultimate parent entity) agreed to acquire Sanofi’s global animal health business_ Merial, and to sell its global consumer health care business(excluding its consumer healthcare business in china) to Sanofi. In India Sanofi’s animal Helath business is housed in Sanofi’s wholly owned subsidiary- Sanofi-Syntoelabo (India) Private Limited. Accordingly at India Level Sanofi has agreed to transfer its animal health business which includes inter alia, certain assets of Sanofi-Syntoelabo (India) Private Limited and certain employees of Sanofi India Limited to BI India by way of slump sale for a consideration as may be agreed between the parties.
The Company has earned the total revenue of INR 5043.800 Million as compared to the revenue INR 3295.500 Million in the previous year.
There has been no change, in the business of the Company during the financial year ended 31st March, 2017.
UNSECURED LOANS:
(INR
In Million)
|
Particulars |
As
on 31.03.2017 |
As
on 31.03.2016 |
|
SHORT TERM
BORROWING |
|
|
|
Rupee term loans from banks |
600.000 |
590.000 |
|
Rupee term loans from others |
439.741 |
339.491 |
|
Total |
1039.741 |
929.491 |
FIXED ASSETS:
Tangible assets
- Furniture and fixtures
- Office equipment
- Computer equipments
- Leasehold improvements
Intangible assets
- Computer software
- Copyrights, patents and other operating rights
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No 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 67.45 |
|
|
1 |
INR 89.70 |
|
Euro |
1 |
INR 78.79 |
INFORMATION DETAILS
|
Information
Gathered by : |
AKY |
|
|
|
|
Analysis Done by
: |
PSD |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
7B |
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.