|
|
|
MIRA INFORM REPORT
|
Report No. : |
517006 |
|
Report Date : |
27.06.2018 |
IDENTIFICATION DETAILS
|
Name : |
P.I.P. POLYMERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
No.41/3, PIP House, 1st Floor, Vellalar Street, Mugappair West,
Chennai – 600037, Tamilnadu |
|
Tel. No.: |
91-44-26880284 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2016 |
|
|
|
|
Date of
Incorporation : |
28.04.2004 |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24139TN2004PTC053179 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 1.000 Million |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCP4936G |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
29AADCP4936G1Z7 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Importer, Wholesaler, Trader, Distributor and Processor of all kinds of
Plastic Materials, Engineering Plastics, Styrene, Polystyrene, Vinyl
Chloride, Poly-Vinyl Chloride, Polyetrhylene, Poly Acetate, Polyoleifines,
Ethylene Vinyl Acetate, and Copolymers. (As per Memorandum of Association and
Confirmed by Management) |
|
|
|
|
No. of Employees
: |
15 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
Maximum Credit Limit : |
USD 64000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated in the year 2004. Management has failed to file its financials with the Registrar of Companies for the FY 2017. As per the financial records of 2016, the company has achieved revenue growth of 29.76% as compared to the previous year along with an average profit margin of 1.01%. The satisfactory financial risk profile of the company is marked by adequate net worth base along with strong debt coverage indicators due to low debt balance sheet profile. Rating, however gets constrained on account of absence of latest audited financials to evaluate the risk associated with the subject. Payment seems to be slow but 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 27.06.2018
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 PARTED BY [GENERAL DETAILS]
|
Name : |
Mr. Durebabu |
|
Designation : |
Accountant |
|
Contact No.: |
91-44-26880284 |
|
Date : |
25.06.2018 |
LOCATIONS
|
Registered Office : |
18, No.41/3, PIP House, 1st Floor, Vellalar Street, Mugappair West,
Chennai – 600037, Tamilnadu, India |
|
Tel. No.: |
91-44-26880284 |
|
Mobile No.: |
91-9448558256 (Mr. Lokesh Kempaidh) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
Locality : |
Industrial |
|
|
|
|
Branch Office : |
No. 16/19, 1st Main Road, Next to BAPS Shri Swaminarayan
Mandir, Industrial Town, WCR
Road, Rajajinagar, Bangalore – 560010, Karnataka, India |
|
Tel. No.: |
91-80-23509987 |
|
E-Mail : |
DIRECTORS
AS ON 31.03.2018
|
Name : |
Ms. Asha Agarwal |
|
Designation : |
Managing Director |
|
Address : |
1737, 18th Main Road, Anna Nagar West, Chennai – 600040, Tamilnadu, India |
|
Date of Birth/Age : |
09.10.1943 |
|
Date of Appointment : |
07.05.2004 |
|
DIN No.: |
01199218 |
|
|
|
|
|
|
|
Name : |
Mr. Pawan Agarwal |
|
Designation : |
Whole-Time Director |
|
Address : |
1737, 18th Main Road, Anna Nagar West, Chennai – 600040, Tamilnadu, India |
|
Date of Appointment : |
07.05.2004 |
|
DIN No.: |
01199324 |
KEY EXECUTIVES
|
Name : |
Mr. Durebabu |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2016
|
Names of Shareholders |
No. of Shares |
Percentage
of Holding |
|
Asha Agarwal |
50000 |
50.00 |
|
Pawan Agarwal |
50000 |
50.00 |
|
|
|
|
|
Total |
100000 |
100.00 |
AS ON 30.09.2016
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage
of Holding |
|
Promoters (Individual/Hindu Undivided Family - Indian) |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Importer, Wholesaler, Trader, Distributor and Processors of all kinds
of Plastic Materials, Engineering Plastics, Styrene, Polystyrene, Vinyl Chloride,
Poly-Vinyl Chloride, Polyetrhylene, Poly Acetate, Polyoleifines, Ethylene
Vinyl Acetate, and Copolymers. (As per Memorandum of Association and
Confirmed by Management) |
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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 Available |
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Imports : |
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Products : |
Raw Material |
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Countries : |
· South Korea · Singapore |
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Terms : |
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Selling : |
NEFT and RTGS |
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Purchasing : |
NEFT and RTGS |
PRODUCTION STATUS [NOT AVAILABLE]
GENERAL INFORMATION
|
Suppliers : |
|
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|
|
|
||||||||||||||||||||||
|
Customers : (As Per Indirect Source) |
·
Infac India Private Limited ·
Janatics Pneumatic ·
Larsen and Toubro ·
Lakshmi Electrical Control Systems ·
Vega ·
BOSCH ·
Minda ·
Honeywell ·
LLS |
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|
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|
No. of Employees : |
15 (Approximately) |
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Bankers : |
· Kotak Mahindra Bank Limited 27BKC, C 27, G Block, Bandra Kurla Complex, Bandra (East), Mumbai - 400051 · Indian Overseas Bank IV Main Road Branch, Plot No. 4035, V Block, No.83, 4th
Main Road, Anna Nagar, Chennai – 600040, Tamilnadu, India · Bharat Overseas Bank Limited Habeeb Towers 196
Old No. 756 Annasalai CH-02, Anna Nagar Branch, V-Block No 83, IV Main Road,
Chennai - 600040, Tamilnadu, India |
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Facilities : |
|
|
Auditors : |
|
|
Name : |
M C Mehta and Company Chartered Accountants |
|
Address : |
No.67, Devaraja Mudali Street, Chennai – 600003, Tamilnadu, India |
|
Income-tax PAN
of auditor or auditor's firm : |
AAEPM4363Q |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Related Party : |
P.I. Polymers |
CAPITAL STRUCTURE
AS ON 31.03.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
INR 10/- each |
INR 1.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
INR 10/- each |
INR 1.000 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
1.000 |
1.000 |
1.000 |
|
(b) Reserves &
Surplus |
21.358 |
16.402 |
14.757 |
|
(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) |
22.358 |
17.402 |
15.757 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
12.321 |
10.232 |
11.745 |
|
(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) |
12.321 |
10.232 |
11.745 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
79.988 |
62.609 |
50.344 |
|
(c) Other current
liabilities |
9.574 |
2.510 |
2.161 |
|
(d) Short-term provisions |
2.279 |
1.278 |
0.000 |
|
Total Current Liabilities
(4) |
91.841 |
66.397 |
52.505 |
|
|
|
|
|
|
TOTAL |
126.520 |
94.031 |
80.007 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1.239 |
0.873 |
0.952 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) 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) |
0.061 |
0.041 |
0.023 |
|
(d) Long-term Loan and Advances |
1.993 |
2.617 |
2.618 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
3.293 |
3.531 |
3.593 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
3.787 |
1.543 |
2.966 |
|
(c) Trade receivables |
101.945 |
79.139 |
63.682 |
|
(d) Cash and cash
equivalents |
12.795 |
6.562 |
8.182 |
|
(e) Short-term loans and
advances |
0.000 |
0.000 |
0.000 |
|
(f) Other current assets |
4.700 |
3.256 |
1.584 |
|
Total Current Assets |
123.227 |
90.500 |
76.414 |
|
|
|
|
|
|
TOTAL |
126.520 |
94.031 |
80.007 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Revenue from Operations |
491.082 |
378.455 |
280.122 |
|
|
Other Income |
3.294 |
3.324 |
2.516 |
|
|
TOTAL |
494.376 |
381.779 |
282.638 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Purchases of
Stock-in-Trade |
454.541 |
350.898 |
255.303 |
|
|
Changes in Finished Goods |
(2.244) |
1.424 |
4.335 |
|
|
Employees Benefits
Expense |
7.257 |
6.097 |
8.028 |
|
|
Other expenses |
24.593 |
17.315 |
9.364 |
|
|
TOTAL |
484.147 |
375.734 |
277.030 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
INTEREST, TAX, DEPRECIATION AND AMORTISATION |
10.229 |
6.045 |
5.608 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
2.532 |
1.766 |
1.758 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
7.697 |
4.279 |
3.850 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.452 |
0.203 |
0.190 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
7.245 |
4.076 |
3.660 |
|
|
|
|
|
|
|
Less |
TAX |
2.289 |
2.430 |
(0.012) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
4.956 |
1.646 |
3.672 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
49.56 |
16.46 |
36.72 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
|
|
|
|
|
Cash generated from operations |
5.976 |
0.804 |
(11.663) |
|
|
|
|
|
|
Net cash flow from operating activity |
NA |
NA |
NA |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
75.77 |
76.33 |
82.98 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
4.82 |
4.78 |
4.40 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
64.23 |
65.13 |
71.98 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
2.70 |
3.92 |
1.89 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
8.26 |
6.92 |
5.89 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.82 |
0.81 |
0.80 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.55 |
0.59 |
0.75 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
4.11 |
3.82 |
3.33 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.06 |
0.05 |
0.06 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
4.04 |
3.42 |
3.19 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
1.01 |
0.43 |
1.31 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
3.92 |
1.75 |
4.59 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
22.17 |
9.46 |
23.30 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.34 |
1.36 |
1.46 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.30 |
1.34 |
1.40 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.18 |
0.19 |
0.20 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
12.32 |
10.23 |
11.75 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.34 |
1.36 |
1.46 |
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
|
Particulars |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
1.000 |
1.000 |
1.000 |
|
Reserves & Surplus |
14.757 |
16.402 |
21.358 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
15.757 |
17.402 |
22.358 |
|
|
|
|
|
|
Long-term borrowings |
11.745 |
10.232 |
12.321 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
11.745 |
10.232 |
12.321 |
|
Debt/Equity
ratio |
0.745 |
0.588 |
0.551 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR
In Million |
INR In
Million |
INR
In Million |
|
Sales |
280.122 |
378.455 |
491.082 |
|
|
|
35.104 |
29.760 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
280.122 |
378.455 |
491.082 |
|
Profit |
3.672 |
1.646 |
4.956 |
|
|
1.31% |
0.43% |
1.01% |
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) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
Yes |
|
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 |
No |
|
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
|
CHARGES REGISTERED |
||||||||
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G80363179 |
100162759 |
KOTAK MAHINDRA BANK LIMITED |
28/01/2018 |
- |
- |
95000000.0 |
27BKC, C 27, G BLOCKBANDRA KURLA COMPLEX, BANDRA (E),MUMBAIMA400051IN |
|
2 |
G45197449 |
10012817 |
INDIAN OVERSEAS BANK |
18/07/2006 |
15/03/2017 |
- |
92500000.0 |
IV MAIN ROAD BRANCH, PLOT NO.4035,V BLOCK, NO.83, 4TH MAIN ROAD, ANNA NAGARCHENNAITN600040IN |
UNSECURED LOANS
|
Particular |
31.03.2016 (INR
in Million) |
31.03.2015 (INR
in Million) |
|
LONG-TERM
BORROWINGS |
|
|
|
Loans and Advance from Directors |
12.126 |
10.232 |
|
|
|
|
|
Total |
12.126 |
10.232 |
BUSINESS OPERATIONS
During the year, the company has earned income from operations of INR 494.376 Million as against INR 381.779 Million during previous year. The profit before tax was at INR 7.245 Million as against INR 4.076 Million during previous year. The directors are taking all possible efforts to tap the potential market and curtail the operational costs to the optimum level and show improved performance in the current year.
FIXED ASSETS
·
Air Conditioner
·
Computer
·
Furniture and Fixtures
·
Office Equipment
·
Motor Car
·
Mobile
·
Generator
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 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
|
Indian Rupees |
|
US Dollar |
1 |
INR 68.17 |
|
UK Pound |
1 |
INR 90.47 |
|
Euro |
1 |
INR 79.74 |
INFORMATION DETAILS
|
Information
Gathered by : |
TEJ |
|
|
|
|
Analysis Done by
: |
PRY |
|
|
|
|
Report Prepared
by : |
BVA |
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.