|
|
|
MIRA INFORM REPORT
|
Report No. : |
516043 |
|
Report Date : |
22.06.2018 |
IDENTIFICATION DETAILS
|
Name : |
LORD INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
A/401-404, 4th Floor,215-Atrium, Chakala, Andheri Kurla Road,
Andheri (East), Mumbai – 400093, Maharashtra |
|
Tel. No.: |
91-22-61316500 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
12.09.1985 |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24295MH1985PTC037482 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 8.750 Million |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACU0785H |
|
|
|
|
GSTN : [Goods & Service Tax Registration
No.] |
Not Divulged |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
|
|
|
|
Line of Business
: |
Subject is engaged in manufacture and supply of Industrial Adhesives and also engaged in trading of structural parts. [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+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Maximum Credit Limit : |
USD 1100000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is a wholly owned subsidiary of “Lord Corporation, USA, and
was incorporated in the year 1985. It is having good track records. For the financial year 2017, the company has increased in its revenue
from operation as compared to previous year but maintained decent profit
margin of 21.43%. Rating takes into consideration sound financial profile of the company
marked by healthy networth base and comfortable liquidity position. Further, the company also derives strength from its strong holding
company support, well established track record of business operation and
market position and decent improvement in the revenue as well profitability
profile during the year. Trade relations are fair. Payment terms are seem 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.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (31.12.2017) |
Current Rating (01.04.2018) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2018.
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 22.06.2018.
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 BY
|
Name : |
Mr. Rahul |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-22-61316500 |
|
Date : |
20.06.2018 |
|
Name : |
Mr. Nitin Vaidya |
|
Designation : |
Accountant |
|
Contact No.: |
91-253-2363341 |
|
Date : |
20.06.2018 |
Tel. No.: 91-8652229678 not responding.
LOCATIONS
|
Registered Office : |
A/401-404, 4th Floor,215-Atrium, Chakala, Andheri Kurla
Road, Andheri (East), Mumbai – 400093, Maharashtra, India |
|
Tel. No.: |
91-22-61316500 |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
As on 31.03.2018
|
Name : |
Mr. Vilas Vaman Dhavale |
|
Designation : |
Managing Director |
|
Address : |
703, Solitude Chs Bhogoji Keer Marg, Mahim, Mumbai – 400016,
Maharashtra, India |
|
Date of Birth/Age : |
20.06.1956 |
|
Qualification : |
B.sc |
|
Date of Appointment : |
07.06.2007 |
|
PAN No.: |
ACAPD3380N |
|
DIN No.: |
01642505 |
|
|
|
|
Name : |
Mr. Jonathan Douglas Oechsle |
|
Designation : |
Director |
|
Address : |
1115 Grogans Mill Drive Cary North Caroline 27519 US |
|
Date of Birth/Age : |
20.10.1964 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
21.01.2009 |
|
DIN No.: |
02488956 |
|
|
|
|
Name : |
Mr. Tesa Lynn Oechsle |
|
Designation : |
Director |
|
Address : |
1115 Grogans Mill Drive Cary North Caroline 27519 US |
|
Date of Appointment : |
21.01.2009 |
|
DIN No.: |
02609395 |
|
|
|
|
Name : |
Mr. Gareth Mcallister |
|
Designation : |
Director |
|
Address : |
1 Waterside Crescent, Portmarnock Dublin D13DP63 IE |
|
Date of Appointment : |
04.08.2017 |
|
DIN No.: |
07897628 |
KEY EXECUTIVES
|
Name : |
Mr. Rahul |
|
Designation : |
Accounts Executive |
|
|
|
|
Name : |
Mr. Nitin Vaidya |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Lord Corporation, United States of America |
|
87499 |
|
Lord Far East, Japan |
|
1 |
|
|
|
|
|
Total |
|
87500 |
Equity Share Break up (Percentage of Total Equity)
As on 20.09.2017
|
Category |
Percentage |
|
Promoter – Foreign national (other than NRI) |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in manufacture and supply of Industrial Adhesives and also engaged in trading of structural parts. [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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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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|
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Auditors : |
|
|
Name : |
SRBC and Company LLP Chartered Accountants |
|
Address : |
14th Floor, The Ruby, 29 Senapati Bapat Marg, Dadar (West), Mumbai – 400028, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
ACHFS9117R |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding Company : |
Lord Corporation, United States of America |
|
|
|
|
Fellow Subsidiary
Company : |
|
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
INR 100/- each |
INR 10.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
87500 |
Equity Shares |
INR 10/- each |
INR 8.750
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
8.750 |
8.750 |
8.750 |
|
(b) Reserves and Surplus |
393.871 |
287.439 |
275.854 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
(d) Minority interest |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
402.621 |
296.189 |
284.604 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.467 |
1.638 |
2.809 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
0.467 |
1.638 |
2.809 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
84.551 |
99.469 |
103.823 |
|
(c) Other
current liabilities |
19.738 |
12.065 |
11.121 |
|
(d) Short-term
provisions |
29.014 |
139.200 |
54.525 |
|
Total Current
Liabilities (4) |
133.303 |
250.734 |
169.469 |
|
|
|
|
|
|
TOTAL |
536.391 |
548.561 |
456.882 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
77.910 |
83.775 |
96.485 |
|
(ii)
Intangible Assets |
0.033 |
0.182 |
0.383 |
|
(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) |
6.299 |
3.245 |
1.368 |
|
(d)
Long-term loans and advances |
32.824 |
27.384 |
32.409 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
117.066 |
114.586 |
130.645 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.018 |
45.000 |
0.000 |
|
(b)
Inventories |
97.016 |
103.335 |
101.668 |
|
(c) Trade
receivables |
198.854 |
171.459 |
155.108 |
|
(d) Cash and
bank balances |
100.236 |
93.643 |
57.343 |
|
(e)
Short-term loans and advances |
22.909 |
19.695 |
11.486 |
|
(f) Other current
assets |
0.292 |
0.843 |
0.632 |
|
Total
Current Assets |
419.325 |
433.975 |
326.237 |
|
|
|
|
|
|
TOTAL |
536.391 |
548.561 |
456.882 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
1232.961 |
1087.021 |
1061.470 |
|
|
Other Income |
10.225 |
2.914 |
3.432 |
|
|
TOTAL |
1243.186 |
1089.935 |
1064.902 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
575.091 |
509.621 |
537.316 |
|
|
Purchases of
Stock-in-Trade |
10.081 |
16.454 |
12.890 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
3.005 |
2.342 |
(11.694) |
|
|
Employee benefit expense |
82.687 |
73.273 |
66.624 |
|
|
CSR expenditure |
5.610 |
5.292 |
5.425 |
|
|
Other expenses |
140.320 |
153.704 |
181.463 |
|
|
TOTAL |
816.794 |
760.686 |
792.024 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
426.392 |
329.249 |
272.878 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
3.267 |
4.286 |
0.069 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
423.125 |
324.963 |
272.809 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
11.335 |
13.753 |
18.133 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
411.790 |
311.210 |
254.676 |
|
|
|
|
|
|
|
Less |
TAX |
147.538 |
117.956 |
89.652 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
264.252 |
193.254 |
165.024 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
NA |
NA |
174.944 |
|
|
TOTAL EARNINGS |
NA |
NA |
174.944 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
3020.00 |
2209.00 |
1886.00 |
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 |
1.172 |
|
Net cash flows from (used in) operations |
400.565 |
312.034 |
278.354 |
|
Net cash flows from (used in) operating activities |
226.789 |
205.416 |
176.346 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days [Sundry Debtors / Income * 365] |
|
58.87 |
57.57 |
53.34 |
|
|
|
|
|
|
|
Account Receivables Turnover [Income / Sunday Debtors] |
|
6.20 |
6.34 |
6.84 |
|
|
|
|
|
|
|
Average Payment Days [Sundry Creditors /
Purchases * 365] |
|
52.74 |
69.01 |
68.87 |
|
|
|
|
|
|
|
Inventory Turnover [Operating Income /
Inventories] |
|
4.40 |
3.19 |
2.68 |
|
|
|
|
|
|
|
Asset Turnover [Operating Income / Net Fixed
Assets] |
|
5.47 |
3.92 |
2.82 |
LEVERAGE RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio [(Borrowing + Current Liabilities) / Total Assets] |
|
0.25 |
0.46 |
0.38 |
|
|
|
|
|
|
|
Debt Equity Ratio (Borrowings / NetWorth) |
|
0.00 |
0.01 |
0.01 |
|
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities
/ NetWorth) |
|
0.33 |
0.85 |
0.60 |
|
|
|
|
|
|
|
Fixed Assets to NetWorth (Net Fixed Assets /
NetWorth) |
|
0.19 |
0.28 |
0.34 |
|
|
|
|
|
|
|
Interest Coverage Ratio [PBIT / Financial
Charges] |
|
130.51 |
76.82 |
3954.75 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin [(PAT / Sales) * 100] |
(%) |
21.43 |
17.78 |
15.55 |
|
|
|
|
|
|
|
Return on Total Assets [(PAT / Total Assets)
* 100] |
(%) |
49.26 |
35.23 |
36.12 |
|
|
|
|
|
|
|
Return on Investment (ROI) [(PAT / NetWorth)
* 100] |
(%) |
65.63 |
65.25 |
57.98 |
SOLVENCY RATIO
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio [Current Assets / Current Liabilities] |
|
3.15 |
1.73 |
1.93 |
|
|
|
|
|
|
|
Quick Ratio [(Current Assets - Inventories)
/ Current Liabilities] |
|
2.42 |
1.32 |
1.33 |
|
|
|
|
|
|
|
G-Score Ratio Financial [NetWorth / Total
Assets] |
|
0.75 |
0.54 |
0.62 |
|
|
|
|
|
|
|
G-Score Ratio Debt [Debts / Equity Capital] |
|
0.05 |
0.19 |
0.45 |
|
|
|
|
|
|
|
G-Score Ratio Liquidity [Total Current
Assets / Total Current Liabilities] |
|
3.15 |
1.73 |
1.93 |
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 |
8.750 |
8.750 |
8.750 |
|
Reserves & Surplus |
275.854 |
287.439 |
393.871 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
284.604 |
296.189 |
402.621 |
|
|
|
|
|
|
Long-term borrowings |
2.809 |
1.638 |
0.467 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
3.981 |
1.638 |
0.467 |
|
Debt/Equity
ratio |
0.014 |
0.006 |
0.001 |
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 |
1061.470 |
1087.021 |
1232.961 |
|
|
|
2.407 |
13.426 |
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 |
1061.470 |
1087.021 |
1232.961 |
|
Profit/ (Loss) |
165.024 |
193.254 |
264.252 |
|
|
15.55
% |
17.78
% |
21.43
% |
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 |
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 |
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 |
UNSECURED LOAN
|
Unsecured Loan |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Other loans and advances |
0.467 |
1.638 |
|
|
|
|
|
Total |
0.467 |
1.638 |
INDEX
OF CHARGES:
|
Charges Registered |
||||||||
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
Y10501772 |
90373906 |
STATE BANK OF INDIA |
22/02/1999 |
04/01/2001 |
- |
2500000.0 |
SANTACRUZ WEST BRANCHMUMBAIMHIN |
|
2 |
Y10501502 |
90373636 |
INDIAN BANK |
22/10/1994 |
- |
- |
400000.0 |
FORT BRANCHMUMBAIMHIN |
|
3 |
Y10501363 |
90373497 |
INDIAN BANK |
05/11/1990 |
- |
- |
400000.0 |
FORT BRANCHMUMBAIMHIN |
|
4 |
Y10501301 |
90373435 |
INDIAN BANK |
28/11/1988 |
22/10/1994 |
- |
1200000.0 |
FORT BRANCHMUMBAIMHIN |
|
5 |
Y10501299 |
90373433 |
INDIAN BANK |
25/11/1988 |
23/06/1989 |
- |
1200000.0 |
FORT BRANCHMUMBAIMHIN |
|
6 |
Y10501233 |
90373367 |
THE MAHARASHTRA STATE FINANCIAL CORPORATION |
19/10/1987 |
17/07/1991 |
- |
3150000.0 |
A.K. NAYAK MARGFORTMUMBAIMHIN |
|
7 |
Y10501217 |
90373351 |
MAHARASHTRA STATE FINANCIAL CORPORATION |
30/07/1987 |
- |
- |
525000.0 |
A.K. NAYAK MARGFORTMUMBAIMHIN |
|
8 |
Y10500990 |
90373124 |
INDIAN BANK |
28/11/1982 |
09/11/1990 |
- |
1250000.0 |
FORT BRANCHMUMBAIMHIN |
FIXED ASSETS
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipment
- Leasehold improvements
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 68.08 |
|
|
1 |
INR 89.60 |
|
Euro |
1 |
INR 78.83 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHW |
|
|
|
|
Analysis Done by
: |
PRA |
|
|
|
|
Report Prepared
by : |
JYO |
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.