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|
MIRA INFORM REPORT
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Report No. : |
495572 |
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Report Date : |
06.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
RHODIA POLYMERS AND SPECIALTIES INDIA PRIVATE LIMITED |
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Registered
Office : |
Phoenix House, "A" Wing, 4th Floor, 462, Senapati Bapat
Marg, Lower Parel (West), Mumbai-400013, Maharashtra |
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Tel. No.: |
91-22-66637100 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
31.01.2011 |
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Com. Reg. No.: |
11-212834 |
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Capital
Investment / Paid-up Capital : |
INR 96.905 Million |
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CIN No.: [Company Identification
No.] |
U24100MH2011PTC212834 |
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IEC No.: [Import-Export
Code No.] |
Not Divulged |
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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.] |
AAFCR1285G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The principal activity of the Company is manufacturing and trading of synthetic, blended polymers, polyamide polymers and polymer intermediates and its allied materials. (Registered Activity) |
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No. of Employees
: |
Information denied by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with moderate
risk of default |
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Maximum Credit Limit : |
USD 360000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of “Rhodianyl SAS” based in France
and it was incorporated in the year 2011. It is a manufacturer and trader of synthetic, blended polymers, polyamide polymers and polymer intermediates and its allied materials. As per financials of March 2017, the company has registered a growth of 32.53% in its revenue as compared to its previous year’s revenue and has reported average profit margin of 2.27%. Rating takes into consideration the company’s satisfactory track record of business operations marked by sound net worth base along with low solvency indicators and decent liquidity position. Rating also takes into account the strong financial and managerial support received from its holding entity. Further, the company has reported earnings per share of INR 3.05 against its face value of INR 10. 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 (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
NOT AVAILABLE
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 06.03.2018
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 (91-22-66637100/
66637101)
LOCATIONS
|
Registered Office : |
Phoenix House, "A" Wing, 4th Floor, 462, Senapati Bapat
Marg, Lower Parel (West), Mumbai-400013, Maharashtra, India |
|
Tel. No.: |
91-22-66637100/ 66637101 |
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Fax No.: |
91-22-24952834 |
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E-Mail : |
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Website : |
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Factory : |
Survey No. 432/1+2, Village Umarwada (Adjacent to 237 GIDC, Panoli),
Taluka Ankleshwar, District Bharuch-393001, Gujarat, India |
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Tel. No.: |
91-2646-675572 |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Jitenderkumar Indrakumar Bharihoke |
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Designation : |
Managing Director |
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Address : |
C 810 Ekta Woods, Raheja Estate, Borivali East, Mumbai -400066, |
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Date of Appointment : |
24.01.2017 |
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DIN No.: |
07709032 |
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Name : |
Mr. Napoleon Chelliah |
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Designation : |
Director |
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Address : |
S-3/33, Vishram Sthal, Bangur Nagar, Goregaon (West), Mumbai-400090, Maharashtra, India |
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Date of Birth/Age : |
08.05.1961 |
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Date of Appointment : |
31.01.2011 |
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DIN No.: |
03317025 |
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PAN No.: |
AAHPC1619A |
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Other Directorship:
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Name : |
Kum Leng Lye |
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Designation : |
Director |
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Address : |
13, Gerald Terrace, Singapore 797740 |
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Date of Appointment : |
02.03.2016 |
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DIN No.: |
07454812 |
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KEY EXECUTIVES
|
Name : |
Mr. Napoleon Chelliah |
|
Designation : |
Company Secretary |
|
Address : |
S-3/33, Vishram Sthal, Bangur Nagar, Goregaon (West), Mumbai-400090, Maharashtra, India |
|
Date of Appointment : |
13.10.2014 |
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PAN No.: |
AAHPC1619A |
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|
Name : |
Mr. Pritesh Patel |
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Designation : |
Accounts Department |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Rhodianyl S.A.S, France |
|
9690474 |
|
Rhodianyl S.A.S, France Jointly C Napoleon |
|
1 |
|
Total |
|
9690475 |
Equity Share Break up (Percentage of Total Equity)
AS ON 29.09.2017
|
Category |
Percentage |
|
Promoters- Body corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The principal activity of the Company is manufacturing and trading of synthetic, blended polymers, polyamide polymers and polymer intermediates and its allied materials. (Registered Activity) |
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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 : |
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 : |
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Auditors : |
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Name : |
Deloitte Haskins and Sells Chartered Accountants |
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Address : |
31, Nutan Bharat Society, Alkapuri Vadodara-390007, Gujarat, India |
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Income-tax
PAN of auditor or auditor's firm : |
AADFD2337G |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Parties where
Control exists: |
Solvay S.A is the ultimate holding company. Rhodianyl S.A.S. France, the holding; holds 100% of the equity share capital in the Company and is a step down subsidiary of Solvay S.A. |
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Fellow
Subsidiaries: |
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CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11000000 |
Equity Shares |
INR 10/- each |
INR 110.000 Million |
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|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9690475 |
Equity Shares |
INR 10/- each |
INR 96.905
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 |
96.905 |
96.905 |
96.905 |
|
(b) Reserves and Surplus |
29.238 |
(0.335) |
112.154 |
|
(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) |
126.143 |
96.570 |
209.059 |
|
|
|
|
|
|
(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 |
5.515 |
0.015 |
0.015 |
|
(d) long-term
provisions |
10.114 |
10.461 |
2.734 |
|
Total Non-current
Liabilities (3) |
15.629 |
10.476 |
2.749 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
424.150 |
419.871 |
320.832 |
|
(b) Trade
payables |
347.182 |
242.822 |
203.855 |
|
(c) Other
current liabilities |
21.423 |
26.348 |
37.367 |
|
(d) Short-term
provisions |
0.737 |
1.911 |
4.382 |
|
Total Current
Liabilities (4) |
793.492 |
690.952 |
566.436 |
|
|
|
|
|
|
TOTAL |
935.264 |
797.998 |
778.244 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
237.069 |
231.236 |
258.137 |
|
(ii)
Intangible Assets |
55.838 |
70.045 |
84.265 |
|
(iii) Tangible assets
capital work-in-progress |
0.000 |
5.423 |
2.652 |
|
(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 |
10.700 |
9.618 |
6.053 |
|
(e) Other
Non-current assets |
0.200 |
0.200 |
0.060 |
|
Total Non-Current
Assets |
303.807 |
316.522 |
351.167 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
253.838 |
186.105 |
179.984 |
|
(c) Trade
receivables |
320.391 |
214.391 |
201.109 |
|
(d) Cash and
bank balances |
10.138 |
35.077 |
0.041 |
|
(e)
Short-term loans and advances |
47.048 |
45.671 |
43.786 |
|
(f) Other current
assets |
0.042 |
0.232 |
2.157 |
|
Total
Current Assets |
631.457 |
481.476 |
427.077 |
|
|
|
|
|
|
TOTAL |
935.264 |
797.998 |
778.244 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
1302.393 |
982.716 |
856.820 |
|
|
Other Income |
11.804 |
49.279 |
35.891 |
|
|
TOTAL |
1314.197 |
1031.995 |
892.711 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
780.634 |
754.431 |
704.409 |
|
|
Purchases of
Stock-in-Trade |
211.624 |
0.000 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(24.869) |
(9.657) |
(11.120) |
|
|
Employee benefit expense |
69.190 |
95.524 |
81.846 |
|
|
Other expenses |
165.455 |
218.456 |
159.515 |
|
|
TOTAL |
1202.034 |
1058.754 |
934.650 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
112.163 |
(26.759) |
(41.939) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
34.999 |
36.706 |
24.616 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
77.164 |
(63.465) |
(66.555) |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
47.591 |
49.024 |
43.973 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
29.573 |
(112.489) |
(110.528) |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
29.573 |
(112.489) |
(110.528) |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE BROUGHT
FORWARD |
(981.809) |
(869.320) |
(758.792) |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
29.573 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
(981.809) |
(981.809) |
(869.320) |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
FOB Value of Exports of goods |
16.693 |
16.373 |
65.952 |
|
|
Indenting Commission |
5.604 |
7.135 |
7.971 |
|
|
Services rendered (Recovery of
expenses cross- charged from related parties) |
0.000 |
22.208 |
0.000 |
|
|
TOTAL EARNINGS |
22.297 |
45.716 |
73.923 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw and Packing Materials |
598.655 |
533.456 |
426.896 |
|
|
Stores and Spares |
7.493 |
2.924 |
2.088 |
|
|
Traded Goods |
207.886 |
0.000 |
0.000 |
|
|
Capital Goods |
19.369 |
3.584 |
17.577 |
|
|
TOTAL IMPORTS |
833.403 |
539.964 |
446.561 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
3.05 |
(11.61) |
(11.41) |
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 |
43.077 |
(12.851) |
(19.666) |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
42.360 |
(12.819) |
(19.718) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
89.79 |
79.63 |
85.67 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
4.07 |
4.58 |
4.26 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
127.71 |
117.48 |
105.63 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.44 |
(0.14) |
(0.23) |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.38 |
(0.09) |
(0.12) |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.85 |
0.87 |
0.73 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
3.36 |
4.35 |
1.53 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
6.29 |
7.15 |
2.71 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
2.32 |
3.18 |
1.65 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
3.20 |
(0.73) |
(1.70) |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
2.27 |
(11.45) |
(12.90) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
3.16 |
(14.10) |
(14.20) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
23.44 |
(116.48) |
(52.87) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
0.80 |
0.70 |
0.75 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.48 |
0.43 |
0.44 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.13 |
0.12 |
0.27 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
4.38 |
4.33 |
3.31 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
0.80 |
0.70 |
0.75 |
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 |
96.905 |
96.905 |
96.905 |
|
Reserves & Surplus |
112.154 |
(0.335) |
29.238 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
209.059 |
96.570 |
126.143 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
320.832 |
419.871 |
424.150 |
|
Total
borrowings |
320.832 |
419.871 |
424.150 |
|
Debt/Equity
ratio |
1.535 |
4.348 |
3.362 |
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 |
856.820 |
982.716 |
1302.393 |
|
|
|
14.693 |
32.530 |
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 |
856.820 |
982.716 |
1302.393 |
|
Profit/ (Loss) |
(110.528) |
(112.489) |
29.573 |
|
|
(12.90
%) |
(11.45
%) |
2.27
% |
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 |
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 |
CORPORATE INFORMATION
Subject was incorporated on 31st January, 2011. The Company obtained the approval from Government of India, Ministry of Finance, Department of Economic Affais, FIPB Unit vide its Letter No. FC - II 5 (2011) / 223 (2010) dated March 3, 2011 with 100% equity participation by Rhodianyl, S.A.S, France.
The principal activity of the Company is of manufacturing and trading of blended polymers, polyamide polymers and polymer intermediates and its allied materials.
TOTAL INCOME
Income from sales and other income during the year amounted to INR 1314.197 Million as compared to INR 1031.995 Million, which is an increase of about 27%.
PERFORMANCE
The Company has made a Net Profit of INR 29.573 Million as compared to Net Loss of INR 112.489 Million last year. The Operations of Company has shown positive trend during the year under review. The Company is taking every step to improve the market share of the Company products.
UNSECURED LOANS:
(INR
In Million)
|
Particulars |
As
on 31.03.2017 |
As
on 31.03.2016 |
|
SHORT TERM
BORROWING |
|
|
|
Loans repayable on demand from banks |
24.150 |
19.871 |
|
Loans and advances from related parties |
400.000 |
400.000 |
|
Total |
424.150 |
419.871 |
INDEX OF CHARGE:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
AMOUNT |
ADDRESS |
|
1 |
C81727869 |
10626039 |
BNP
PARIBAS |
08/03/2016 |
200000.0 |
BNP
PARIBAS HOUSE, 1 NORTH AVENUE,MAKER MAXITY, BANDRA KURLA COMPLEX, BANDRA
EMUMBAIMH400051IN |
FIXED ASSETS:
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Office equipment
- Computer equipments
Intangible assets
- Brands and trade marks
- Trade marks
- Computer software
- Know-how
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 65.05 |
|
|
1 |
INR 89.70 |
|
Euro |
1 |
INR 80.03 |
INFORMATION DETAILS
|
Information
Gathered by : |
AKY |
|
|
|
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
KVT |
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.