|
|
|
MIRA INFORM REPORT
|
Report No. : |
496445 |
|
Report Date : |
09.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
SUN RISE ENTERPRISES |
|
|
|
|
Registered
Office : |
604, Agrawal B2B Centre, Kanch Pada Road, Off Link Road, Malad (West),
Mumbai- 400064, Maharashtra |
|
Tel. No.: |
91-22-28821402 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2016 |
|
|
|
|
Date of
Establishment: |
01.04.2009 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 20.290 Million (As on 31.03.2016) |
|
|
|
|
CST/ TIN No.: |
27830732472 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
0309064830 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AOUPS3187C |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
27AOUPS3187C1ZE |
|
|
|
|
Legal Form : |
Sole Proprietary Concern |
|
|
|
|
Line of Business
: |
Trader of Pharma Raw Material. (Confirmed by management) |
|
|
|
|
No. of Employees
: |
17 (Approximately) (As claimed by Mr. Mitesh Sureshchandra Shah that there is an increase in the number of employees over past years and current number employees are 17.) |
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 58000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a proprietary concern established in the year 2009. It is
having satisfactory track record. It is a trader of Pharma Raw Material. Mr. Mitesh Sureshchandra Shah (Proprietor) has provided general information. However, as per our old data base records of financials year 2016, the
concern has achieved 83.94% growth in its revenue as compared to previous
year revenue and has maintained average profitability margin of 2.24% during
the year under review. Rating takes into consideration the satisfactory financial profile of
the concern marked by comfortable capital base along with strong debt
coverage indicators due to low debt balance sheet profile. Trade relations are fair. Business is active. Payment seems to be
usually correct. In view of aforesaid, the concern can be considered for business
dealings with 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 |
|
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
31-03-2016.
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 09.03.2018
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 PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Mitesh Sureshchandra Shah |
|
Designation : |
Proprietor |
|
Contact No.: |
91-9022068665 |
|
Date : |
08.03.2018 |
(Tel. No.: 91-22-44704404 Incorrect number)
LOCATIONS
|
Registered Office: |
604, Agrawal B2B Centre, Kanch Pada Road, Off Link Road, Malad (West),
Mumbai- 400064, Maharashtra, India |
|
Tel. No.: |
91-22-28821402 |
|
Mobile No.: |
91-9022068665 (Mr. Mitesh Shah) |
|
Fax No.: |
91-22-28821403 |
|
E-Mail : |
|
|
Area : |
450 sq. ft. |
|
Location: |
Owned |
|
Locality: |
Commercial |
|
|
|
|
Godown : |
Manish Compound, Building No.2, H No.263/44, Gala No.11, Anjur Patah, Bhiwandi,
Maharashtra, India |
|
Location: |
Rented |
SOLE PROPRIETOR
|
Name : |
Mr. Mitesh Sureshchandra Shah |
|
Designation : |
Proprietor |
|
Address: |
B-70, Vardhaman Kutir, Shankar Lane, Kandivali (West), Mumbai-400067, Maharashtra, India |
|
Date of Birth/ Age : |
27.11.1974 |
|
Qualification : |
T.Y.B.Com |
|
Experience : |
21 Years |
|
PAN No.: |
AOUPS3187C |
BUSINESS DETAILS
|
Line of Business : |
Trader of Pharma Raw Material. (Confirmed by management) |
|
|
|
|
Products : |
Pharma Raw Materials |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Available |
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
China |
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Cheque and Credit (30/ 60/ 90 Days), Others (RTGS) |
|
|
|
|
Purchasing : |
L/C, Cheque and Credit (30/ 60/ 90 Days), Others (RTGS) |
GENERAL INFORMATION
|
Suppliers : |
|
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Customers : |
|
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|
||||||||||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
17 (Approximately) (As claimed by Mr. Mitesh Sureshchandra Shah that there is an increase in the number of employees over past years and current number employees are 17.) |
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Bankers : |
|
||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Auditors : |
|
|
Name : |
Vipul Bheda and Associates Chartered Accountants |
|
Address : |
3, Ganesh Manish Society, Near Dalvi Hospital, S.V. Road, Kandivali
(West), Mumbai- 400067 Maharashtra, India |
|
Tel. No.: |
91-22-28631976 |
|
Mobile No.: |
91-9820774503 |
|
E-Mail : |
|
|
Memberships No.
: |
103694 |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Sister Concern: |
Not Divulged |
CAPITAL STRUCTURE
As on 31.03.2016
|
Particulars |
INR In Million |
Particulars |
INR In Million |
|
To Bank
|
0.885 |
By balance b/d |
8.293 |
|
To Income Tax |
0.343 |
By Net Profit |
15.089 |
|
To LIC Premium |
0.069 |
By Bank |
0.600 |
|
To Max Life Insurance |
0.031 |
|
|
|
To Advance tax |
2.000 |
|
|
|
To T.D.S. |
0.338 |
|
|
|
To Mediclaim |
0.015 |
|
|
|
To Prudential ICICI Premium |
0.011 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
To Balance c/d |
20.290 |
|
|
|
|
|
|
|
|
Total |
23.982 |
Total |
23.982 |
FINANCIAL DATA
[all figures are
in INR Million]
|
Particulars |
|
|
31.03.2017 |
|
Sales Turnover (Approximately) |
|
|
Not Divulged |
|
|
|
|
|
The above information has been denied by Mr. Mitesh Sureshchandra
Shah (Proprietor)
Note : Sole Proprietary and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry Records.
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Proprietor’s Capital |
20.290 |
8.293 |
5.467 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000
|
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000
|
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000
|
|
|
NETWORTH |
20.290 |
8.293 |
5.467 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
14.458 |
0.000 |
0.000
|
|
|
2] Unsecured Loans |
30.713 |
19.400 |
7.404 |
|
|
3] Bank Overdraft |
0.039 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
45.210 |
19.400 |
7.404 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000
|
|
|
|
|
|
|
|
|
TOTAL |
65.500 |
27.693 |
12.871 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
2.078 |
2.321 |
2.594 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000
|
|
|
|
|
|
|
|
|
INVESTMENT |
56.993 |
0.000 |
0.000
|
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000
|
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
12.232 |
9.056
|
1.300
|
|
|
Sundry Debtors |
193.315 |
123.487
|
61.174
|
|
|
Cash & Bank Balances |
2.982
|
0.559
|
2.330
|
|
|
Other Current Assets |
1.397
|
2.280
|
2.488
|
|
|
Loans & Advances |
2.876
|
0.950
|
0.000
|
|
|
Deposit |
0.000
|
0.017
|
0.017
|
|
Total
Current Assets |
212.802
|
136.349
|
67.309
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
0.000
|
87.891
|
38.953
|
|
|
Other Current Liabilities and Provisions |
206.373
|
23.086
|
17.970
|
|
|
Advance from Debtors |
0.000
|
0.000
|
0.109
|
|
Total
Current Liabilities |
206.373
|
110.977
|
57.032
|
|
|
Net Current Assets |
6.429
|
25.372
|
10.277
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000
|
|
|
|
|
|
|
|
|
TOTAL |
65.500 |
27.693 |
12.871 |
|
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Income |
672.870 |
365.799 |
207.219 |
|
|
Other Income |
6.866 |
2.543 |
1.501 |
|
|
TOTAL |
679.736 |
368.342 |
208.720 |
|
|
|
(Due to business growth) |
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of goods sold |
576.442 |
323.615 |
187.696 |
|
|
Advertising Expenses |
0.006 |
0.003 |
0.003 |
|
|
Audit fees |
0.000 |
0.000
|
0.025 |
|
|
Charity and donation |
0.000 |
0.508 |
0.008 |
|
|
Bank charges |
0.267 |
0.095 |
0.293 |
|
|
Bank Interest |
1.458 |
1.427 |
0.965 |
|
|
Bonus |
0.011 |
0.035 |
0.037 |
|
|
Buyers Credit Charges |
0.845 |
0.056 |
0.000
|
|
|
Sundry expenses |
0.044 |
0.000
|
0.000
|
|
|
Commission and Brokerage |
6.360 |
5.418 |
3.837 |
|
|
Conveyance |
0.050 |
0.016 |
0.009 |
|
|
Discount |
0.039 |
0.178 |
0.021 |
|
|
Diwali Expenses |
0.041 |
0.065 |
0.018 |
|
|
Electricity Charges |
0.046 |
0.058 |
0.030 |
|
|
Freight |
1.272 |
0.667 |
0.042 |
|
|
Godown Expenses |
0.054 |
0.075 |
0.004 |
|
|
Mahanagar Gas Limited |
0.000 |
0.002 |
0.003 |
|
|
Hel Majuri |
1.059 |
0.399 |
0.349 |
|
|
Brokerage |
1.199 |
0.000
|
0.000
|
|
|
Late Payment Interest |
0.001 |
0.003 |
0.000
|
|
|
Insurance Charges |
0.120 |
0.064 |
0.046 |
|
|
Internet Expenses |
0.028 |
0.000
|
0.000
|
|
|
Laboratory Charges |
0.011 |
0.006 |
0.000
|
|
|
LC Charges |
0.002 |
0.094 |
0.000
|
|
|
Interest |
0.000 |
0.018 |
0.010 |
|
|
Legal Charges |
0.075 |
0.044 |
0.115 |
|
|
License Fees |
0.022 |
0.009 |
0.023 |
|
|
Foreign Exchange
Difference |
3.164 |
0.000
|
1.008 |
|
|
Office Expenses |
0.545 |
0.171 |
0.093 |
|
|
Office Maintenance |
0.058 |
0.056 |
0.058 |
|
|
Packing and Forwarding |
0.005 |
0.035 |
0.081 |
|
|
Audit Fees |
0.030 |
0.000
|
0.000
|
|
|
Postage and Telegram |
0.021 |
0.025 |
0.022 |
|
|
Printing and Stationery |
0.172 |
0.088 |
0.015 |
|
|
Processing Fees |
0.110 |
0.181 |
0.160 |
|
|
Professional Fees |
3.145 |
0.293 |
0.021 |
|
|
Professional tax |
0.000 |
0.000
|
0.002 |
|
|
Rent |
0.047 |
0.070 |
0.046 |
|
|
Repairs and Maintenance |
0.796 |
0.000
|
0.000
|
|
|
Salary |
2.336 |
0.568 |
0.347 |
|
|
Sales Promotion Expenses |
0.358 |
0.166 |
0.131 |
|
|
Sales tax dues |
0.000 |
1.004 |
0.000
|
|
|
Staff Welfare |
0.105 |
0.094 |
0.100 |
|
|
Telephone Expenses |
0.040 |
0.040 |
0.034 |
|
|
Transport Charges |
1.218 |
0.268 |
0.114 |
|
|
Travelling Expenses |
0.467 |
0.306 |
0.020 |
|
|
Loading Unloading Charges |
0.651 |
0.000
|
0.000
|
|
|
Rate Difference |
0.002 |
0.000
|
0.000
|
|
|
VAT/CST Paid |
1.440 |
0.000
|
0.000
|
|
|
Testinga and Anylitical
Charges |
0.015 |
0.000
|
0.000
|
|
|
Donation |
1.200 |
0.000
|
0.000
|
|
|
Repairing Charges |
0.002 |
0.000
|
0.000
|
|
|
Motor Car Expenses |
0.085 |
0.081 |
0.051 |
|
|
Rent (Warehouse) |
0.051 |
0.000
|
0.000
|
|
|
Misc. Expenses |
0.140 |
0.000
|
0.000
|
|
|
Stamp Duty |
0.051 |
0.000
|
0.000
|
|
|
Storage Charges |
0.008 |
0.000
|
0.000
|
|
|
Interest Paid on
Unsecured Loan |
3.392 |
1.733 |
0.574 |
|
|
Repairs |
0.000 |
0.171 |
0.008 |
|
|
Bad Debts |
0.954 |
0.000
|
0.000
|
|
|
Warehouse and Storage |
0.005 |
0.009 |
0.000
|
|
|
Custom Duty |
51.435 |
2.196
|
8.926 |
|
|
Clearing and forwarding |
2.904 |
24.475
|
0.594 |
|
|
Depreciation |
0.243 |
0.000
|
0.306 |
|
|
TOTAL |
664.647 |
364.885 |
206.245 |
|
|
|
|
|
|
|
|
NET PROFIT |
15.089 |
3.457 |
2.475 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
104.86 |
123.22 |
107.75 |
|
|
|
|
|
|
Account Receivables Turnover ( Income / Sundry Debtors) |
3.48 |
2.96 |
3.39 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
0.00 |
99.13 |
75.75 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.93 |
0.94 |
0.92 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
2.23 |
2.34 |
1.35 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
11.68 |
15.72 |
11.79 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.10 |
0.28 |
0.47 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin [(PAT / Sales)
* 100] |
% |
2.24 |
0.95 |
1.19 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
5.55 |
2.49 |
3.54 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
74.37 |
41.69 |
45.27 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current
Assets / Current Liabilities) |
0.90 |
1.05 |
1.04 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.85 |
0.98 |
1.02 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.07 |
0.06 |
0.08 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
2.23 |
2.34 |
1.35 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
0.90 |
1.05 |
1.04 |
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 |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR In Million) |
(INR In Million) |
(INR In Million) |
|
Proprietor’s Capital |
5.467 |
8.293 |
20.290 |
|
Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
5.467 |
8.293 |
20.290 |
|
|
|
|
|
|
Secured Loans |
0.000 |
0.000 |
14.458 |
|
Unsecured Loans |
7.404 |
19.400 |
30.713 |
|
Bank Overdraft |
0.000 |
0.000 |
0.039 |
|
Total borrowings |
7.404 |
19.400 |
45.210 |
|
Debt/Equity ratio |
1.354 |
2.339 |
2.228 |
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 |
207.219 |
365.799 |
672.870 |
|
|
|
76.528 |
83.945 |
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 |
207.219 |
365.799 |
672.870 |
|
Profit |
2.475 |
3.457 |
15.089 |
|
|
1.19% |
0.95% |
2.24% |
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 |
Yes |
|
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 |
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) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
No |
|
18 |
Major suppliers |
Yes |
|
19 |
Major customers |
Yes |
|
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 |
No |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
Yes |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
No |
|
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 |
UNSECURED LOAN
|
PARTICULARS |
31.03.2016 (INR
in Million) |
31.03.2015 (INR
in Million) |
|
Unsecured Loan |
30.713 |
19.400 |
|
|
|
|
|
Total |
30.713 |
19.400 |
FIXED ASSETS
- Machinery and Plant
- Furniture and Fittings
- Machinery and Plant
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 64.92 |
|
|
1 |
INR 90.22 |
|
Euro |
1 |
INR 80.54 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVT |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
SUD |
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 |
NO |
|
--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.