|
|
|
MIRA INFORM REPORT
|
Report No. : |
516776 |
|
Report Date : |
25.06.2018 |
IDENTIFICATION DETAILS
|
Name : |
BITZER INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
R-708/1, TTC Industrial Area, MIDC Rabale, Navi Mumbai - 400701,
Maharashtra |
|
Tel. No.: |
91-22-71071031 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
15.06.2007 |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74900MH2007FTC171719 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 61.559 Million |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCB1803A |
|
|
|
|
GST No.: |
07AADCB1803A1ZJ [Delhi] 29AADCB1803A1ZD [Bangalore Karnataka] |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
· Sales and Marketing of BITZER compressors for refrigeration and air conditioning. The Company’s revenue stream is derived through commissions on compressor and parts sales to OEM customers, as well as repairs and trading of spare parts in the local market. [Registered Activity] · Manufacture and Sale, processing, installation, commissioning, erectioning, design, marketing, ETC. of compressors in range of reciprocating, screw, EuroScroll, condensing units, racks, pressure vessels, evaporators, etc., including their consumables, accessories, spare parts, etc. [As per Memorandum of Association] |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Maximum Credit Limit : |
USD 390000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a wholly owned subsidiary of “Bitzer SE”, Germany. The
company was incorporated in the year 2007. For the financial year 2017, the company has achieved 31.26% growth in
its revenue as compared to previous year revenue and has maintained healthy
profitability margin of 14.05% during the year under review. The satisfactory financial profile of the company is marked by
sufficient networth base along with strong debt coverage indicators due to
debt free balance sheet profile. The rating takes into consideration financial and managerial support
that company receives from its holding entity backed by its well experienced
management team. Business is active. Payments seems to be usually correct. In view of aforesaid, the company can be considered for business
dealings at usual trade terms and conditions.
|
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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
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 25.06.2018.
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 DECLINED
MANAGEMENT NON-COOPERATIVE [TEL. NO.: 91-22-71071000/
71071021]
LOCATIONS
|
Registered Office : |
R-708/1, TTC Industrial Area, MIDC Rabale, Navi Mumbai - 400701,
Maharashtra, India |
|
Tel. No.: |
91-22-71071031/ 71071000/ 71071021 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branch Offices : |
Located at: ·
Delhi ·
Bangalore ·
Howrah ·
Navi
Mumbai ·
Rabale |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Harvinder Singh Bhatia |
|
Designation : |
Managing Director |
|
Address : |
B/504, Sagar Shrot, Panch Sheel Marg, Juhu Versova Link Road, Andheri West, Mumbai - 400053, Maharashtra, India |
|
Date of Appointment : |
01.11.2014 |
|
PAN No.: |
21.11.1974 |
|
Qualification: |
Graduate |
|
DIN No.: |
06982675 |
|
PAN No.: |
AGHPB8790K |
|
|
|
|
Name : |
Mr. Christian Jurgen Wehrle |
|
Designation : |
Director |
|
Address : |
Stumpenh of 23 Plochingen 73207 DE |
|
Date of Birth/Age : |
23.07.1959 |
|
Qualification: |
Graduate |
|
Date of Appointment : |
31.03.2015 |
|
DIN No.: |
07125449 |
|
|
|
|
Name : |
Mr. Rainer Meinhard Grobe Kracht |
|
Designation : |
Director |
|
Address : |
Sindelfingen Maichingen, Im Pflasterle 34 Germany 71069 DE |
|
Date of Birth/Age : |
01.03.1970 |
|
Qualification: |
Graduate |
|
Date of Appointment : |
31.03.2015 |
|
DIN No.: |
07125518 |
|
|
|
|
Name : |
Mr. Frank Hartmann |
|
Designation : |
Director |
|
Address : |
Marmorweg 5, Ostfildern, Germany 73760 DE |
|
Date of Birth/Age : |
07.04.194 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
21.01.2016 |
|
DIN No.: |
07397567 |
|
|
|
|
Name : |
Mr. Gianbattista Parlanti |
|
Designation : |
Director |
|
Address : |
Epplestr. 42, Degerloch, Stuttgart Germany 70597 DE |
|
Date of Birth/Age : |
10.04.1968 |
|
Qualification: |
Graduate |
|
Date of Appointment : |
21.01.2016 |
|
DIN No.: |
07397577 |
|
|
|
|
Name : |
Ang Chin Leong |
|
Designation : |
Managing Director |
|
Address : |
Block 126, Bukit Merah View, 18-372 Singapore 151126 Sg |
|
Date of Birth/Age : |
18.01.1978 |
|
Qualification: |
Graduate |
|
Date of Appointment : |
14.07.2016 |
|
DIN No.: |
07565172 |
KEY EXECUTIVES
|
Name : |
Mr. Pragya Shrivastava |
|
Designation : |
Company Secretary |
|
Address : |
A-301, Badri Kedar, Plot No 35-36, Sector - 40 Nerul, Navi Mumbai 400706, Maharashtra, India |
|
Date of Birth/Age : |
28.07.1976 |
|
Date of Appointment : |
03.01.2015 |
|
PAN No.: |
AHLPP5956C |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2017
|
Names of Shareholders |
No. of Shares |
% age holding |
|
BITZER SE (Formerly known as Bitzer Kuhlmaschinenbau GMBH and Co. Holding
KG, Germany |
60942924 |
99.00 |
|
BITZER K Kuhlmaschinenbau GMBH, Germany |
615585 |
1.00 |
|
|
|
|
|
Total |
61558509 |
100.00 |
AS ON: 28.09.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters (Individual/Hindu Undivided Family - Body Corporate) |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
· Sales and Marketing of BITZER compressors for refrigeration and air conditioning. The Company’s revenue stream is derived through commissions on compressor and parts sales to OEM customers, as well as repairs and trading of spare parts in the local market. [Registered Activity] · Manufacture and Sale, processing, installation, commissioning, erectioning, design, marketing, ETC. of compressors in range of reciprocating, screw, EuroScroll, condensing units, racks, pressure vessels, evaporators, etc., including their consumables, accessories, spare parts, etc. [As per Memorandum of Association] |
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Products : |
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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 : |
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Selling : |
Not Divulged |
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Purchasing : |
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 : |
Not Divulged |
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Bankers : |
|
|
Auditors : |
|
|
Name : |
Lovelock and Lewes Chartered Accountants |
|
Address: |
252, Veer Savarkar Marg, Next to Mayor’s Bungalow, Shivaji Park, Dadar, Mumbai - 4000028, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AABFL5878L |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
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|
|
|
Ultimate Holding Company: |
Bitzer SE, Germany |
|
|
|
|
Fellow
Subsidiary company: |
·
BITZER Kuhlmaschinenbau GMBH ·
PT BITZER Compressors Indonesia ·
Societe DE reconstruction ET DE Dervoces
BITZER ·
BITZER Refrigeration PTE Asia Limited ·
BITZER Refrigeration Technology (China) CO.
Limited ·
GREEN Point Asia Pacific PTE |
CAPITAL STRUCTURE
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
81558509 |
Equity Shares |
INR 1/- each |
INR 81.559 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
61558509 |
Equity Shares |
INR 1/- each |
INR 61.559 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 |
61.559 |
61.559 |
61.559 |
|
(b) Reserves and Surplus |
76.590 |
36.153 |
26.808 |
|
(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) |
138.149 |
97.712 |
88.367 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
4.755 |
3.319 |
2.411 |
|
Total Non-current
Liabilities (3) |
4.755 |
3.319 |
2.411 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short-term
borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
34.605 |
17.228 |
46.133 |
|
(c) Other
current liabilities |
16.768 |
11.524 |
8.855 |
|
(d) Short-term
provisions |
1.193 |
0.099 |
5.381 |
|
Total Current
Liabilities (4) |
52.566 |
28.851 |
60.369 |
|
|
|
|
|
|
TOTAL |
195.470 |
129.882 |
151.147 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
14.016 |
10.906 |
15.828 |
|
(ii)
Intangible Assets |
0.142 |
0.578 |
0.636 |
|
(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) |
5.067 |
4.957 |
2.288 |
|
(d)
Long-term loans and advances |
16.631 |
14.745 |
10.797 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
35.856 |
31.186 |
29.549 |
|
|
|
|
|
|
(2) Current
assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
42.116 |
45.717 |
69.229 |
|
(c) Trade
receivables |
46.289 |
29.364 |
33.483 |
|
(d) Cash and
bank balances |
68.069 |
20.590 |
14.877 |
|
(e) Short-term
loans and advances |
3.079 |
2.975 |
3.971 |
|
(f) Other
current assets |
0.061 |
0.050 |
0.038 |
|
Total
Current Assets |
159.614 |
98.696 |
121.598 |
|
|
|
|
|
|
TOTAL |
195.470 |
129.882 |
151.147 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Revenue
from operations |
287.806 |
219.264 |
225.569 |
|
|
Other Income |
1.310 |
0.031 |
5.960 |
|
|
TOTAL |
289.116 |
219.295 |
231.529 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Purchases of
Stock-in-Trade |
121.914 |
78.007 |
128.199 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
3.601 |
23.512 |
(27.396) |
|
|
Employee benefit expense |
39.654 |
30.945 |
27.017 |
|
|
Other expenses |
56.668 |
65.446 |
52.855 |
|
|
TOTAL |
221.837 |
197.910 |
180.675 |
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
67.279 |
21.385 |
50.854 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.191 |
0.043 |
0.732 |
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION |
67.088 |
21.342 |
50.122 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
4.682 |
6.817 |
5.897 |
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX |
62.406 |
14.525 |
44.225 |
|
|
|
|
|
|
|
Less |
TAX |
21.969 |
5.180 |
16.422 |
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
40.437 |
9.345 |
27.803 |
|
|
|
|
|
|
|
|
Earnings Per Share (INR) |
0.66 |
0.15 |
0.45 |
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 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
76.082 |
23.498 |
44.225 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
54.210 |
7.591 |
44.225 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
58.70 |
48.88 |
54.18 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
6.22 |
7.47 |
6.74 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
103.60 |
80.61 |
131.35 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
1.60 |
0.47 |
0.73 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
4.75 |
1.86 |
3.09 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.27 |
0.22 |
0.40 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.38 |
0.30 |
0.68 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.10 |
0.12 |
0.19 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
352.25 |
497.33 |
69.47 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
14.05 |
4.26 |
12.33 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
20.69 |
7.19 |
18.39 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
29.27 |
9.56 |
31.46 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
3.04 |
3.42 |
2.01 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
2.24 |
1.84 |
0.87 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.71 |
0.75 |
0.58 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
3.04 |
3.42 |
2.01 |
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 |
61.559 |
61.559 |
61.559 |
|
Reserves & Surplus |
26.808 |
36.153 |
76.590 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
88.367 |
97.712 |
138.149 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
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 |
225.569 |
219.264 |
287.806 |
|
|
|
(2.795) |
31.260 |
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 |
225.569 |
219.264 |
287.806 |
|
Profit |
27.803 |
9.345 |
40.437 |
|
|
12.33
% |
4.26
% |
14.05
% |
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 |
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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES: NO
CHARGES EXISTS FOR COMPANY
CHANGE OF ADDRESS:
Registered address of the company has been shifted from 618, 6TH Floor,
Corporate Office, Nirmal Lifestyle L.B.S. Road, Mulund (West), Mumbai - 400080,
Maharashtra, India to the present address w.e.f. 29.08.2011
BACKGROUND
The Company was incorporated on 15th June 2007 as a private limited company with its registered office at Mumbai, India. The Company is focused on sales and marketing of BITZER compressors for refrigeration and air conditioning. The Company’s revenue stream is derived through commissions on compressor and parts sales to OEM customers, as well as repairs and trading of spare parts in the local market.
STATE OF COMPANY’S AFFAIRS
During the year, the revenue from operations of the company is creased by 31.84 % and profit before tax is also improved significantly by 329.65 %. The directors are confident that the situation will continue to improve in future and assure that the company will grow at a good pace in forthcoming years.
FIXED ASSETS:
·
Plant and equipment
·
Factory equipment’s
·
Furniture and fixtures
·
Vehicles
·
Computer equipment’s
·
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 67.77 |
|
UK Pound |
1 |
INR 89.96 |
|
Euro |
1 |
INR 78.86 |
INFORMATION
DETAILS
|
Information
Gathered by : |
SAV |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
ARC |
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.