|
|
|
MIRA INFORM REPORT
|
Report No. : |
496362 |
|
Report Date : |
12.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
MCCAIN FOODS INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Ground Floor, The Crescent, Plot No. 1 To 7 LSC, Lado Sarai,
New Delhi - 110030 |
|
Tel. No.: |
91-11-46699000 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2016 |
|
|
|
|
Date of
Incorporation : |
22.03.1996 |
|
|
|
|
Com. Reg. No.: |
55-077452 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
INR 4815.804 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15139DL1996PTC077452 |
|
|
|
|
IEC No.: [Import-Export
Code No.] |
Not Divulged |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACM4861G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the business of manufacturing and
trading of frozen potato based and other frozen food products. [Registered Activity] |
|
|
|
|
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 |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Maximum Credit Limit : |
USD 14000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of “McCain Foods Limited, Canada” incorporated in the year 1996 having fine track record. The subject is engaged in the business of manufacturing and trading of frozen potato based and other frozen food products. Management has failed to file its financial for the year 2017 with Registrar of Companies. As per available financials of March 2016, the company has achieved decent growth in its revenue as compared to its previous year and has shown drastic improvement in its profitability during the year. Rating takes into consideration, the healthy financial risk profile marked by positive reserve level and strong debt protection metrics. Rating continue to derive strength from its long and established track record of its business operations backed by its well-experienced management team and strong financial support from its holding entity. However, these rating strengths gets partially offset by highly competitive consumer retail market with presence of large players and unorganized sector marked by profit margins exposed to fluctuations in the input prices. Payments seems to be regular. In view of aforesaid, the company can be considered for business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (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
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 12.03.2018
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 (91-11-46699000)
LOCATIONS
|
Registered Office / Head Office: |
Ground Floor, The Crescent, Plot No. 1 To 7 LSC, Lado
Sarai, New Delhi – 110030, India |
|
Tel. No.: |
91-11-46699000 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Plant: |
S.H-41, Milestone #54 P.O: Baliyasan, District ; :
Mehsana- 382732, Gujarat, India |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Vikas Mittal |
|
Designation : |
Managing Director |
|
Address : |
C-146, Ground Floor, Sarvodaya Enclave, New Delhi -110017,
India |
|
Date of Birth/Age : |
04.10.1967 |
|
Qualification: |
Graduate |
|
Date of Appointment : |
06.06.2012 |
|
DIN No.: |
05337956 |
|
PAN No.: |
AAFPM4854K |
|
|
|
|
Name : |
Mr. Michael Joseph Campbell |
|
Designation : |
Director |
|
Address : |
131 Union Street Woodstock NB E7M2W5 Canada |
|
Date of Birth/Age : |
19.03.1949 |
|
Qualification: |
Graduate |
|
Date of Appointment : |
01.12.2005 |
|
DIN No.: |
01473061 |
|
|
|
|
Name : |
Mr. Louis Wolthers |
|
Designation : |
Director |
|
Address : |
2/1705 Albert Road South Melbourne Melbourne 3205
Australia |
|
Date of Birth/Age : |
12.02.1962 |
|
Qualification: |
Graduate |
|
Date of Appointment : |
23.01.2015 |
|
DIN No.: |
07077939 |
KEY EXECUTIVES
|
Name : |
Deepshikha Madan |
|
Designation : |
Company Secretary |
|
Address : |
B-14, Shivalik, Panchsheel Geetanjali Road, New Delhi
-110017, India |
|
Date of Birth/Age : |
05.09.1973 |
|
Date of Appointment : |
28.06.2016 |
|
PAN No.: |
AKWPM1851D |
MAJOR SHAREHOLDERS
AS ON 31.03.2016
|
Names of Shareholders |
|
No. of Shares |
|
McCAIN Foods Limited, Canada |
|
481580358 |
|
Carco Investment Limited |
|
2 |
|
Total |
|
481580360 |
Equity Share Break up (Percentage of Total Equity)
AS ON 29.09.2016
|
Category |
Percentage |
|
Promoters- Body corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of manufacturing and
trading of frozen potato based and other frozen food products. [Registered Activity] |
||||
|
|
|
||||
|
Products / Services
: |
|
||||
|
|
|
||||
|
Brand Names : |
Not Available |
||||
|
|
|
||||
|
Agencies Held : |
Not Available |
||||
|
|
|
||||
|
Exports : |
Not Divulged |
||||
|
|
|
||||
|
Imports : |
Not Divulged |
||||
|
|
|
||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
Information denied by the management |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
|
Auditors : |
|
|
Name : |
Price Waterhouse LLP Chartered Accountants |
|
Address : |
Gurugram, Haryana, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFP8828M |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding company (AS
ON 31.03.2016): |
|
|
|
|
|
Fellow Subsidiary Company (AS ON
31.03.2016): |
|
CAPITAL STRUCTURE
AS ON 31.03.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
525000000 |
Equity Shares |
INR 10/- each |
INR 5250.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
481580360 |
Equity Shares |
INR 10/- each |
INR 4815.804 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
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 |
4815.804 |
4815.804 |
4170.202 |
|
(b) Reserves and Surplus |
121.829 |
(285.152) |
(179.595) |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
645.601 |
|
Total
Shareholders’ Funds (1) + (2) |
4937.633 |
4530.652 |
4636.208 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
94.277 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
52.324 |
30.093 |
22.075 |
|
Total Non-current Liabilities
(3) |
52.324 |
30.093 |
116.352 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
0.000 |
0.000 |
250.000 |
|
(b) Trade
payables |
1285.393 |
1366.747 |
950.552 |
|
(c) Other
current liabilities |
89.125 |
73.122 |
150.324 |
|
(d) Short-term
provisions |
20.556 |
4.215 |
1.862 |
|
Total Current
Liabilities (4) |
1395.074 |
1444.084 |
1352.738 |
|
|
|
|
|
|
TOTAL |
6385.031 |
6004.829 |
6105.298 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
3272.858 |
3761.650 |
4151.482 |
|
(ii)
Intangible Assets |
6.236 |
9.109 |
11.982 |
|
(iii) Tangible assets
capital work-in-progress |
59.618 |
3.558 |
6.461 |
|
(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) |
73.808 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
251.130 |
175.769 |
170.524 |
|
(e) Other
Non-current assets |
0.434 |
0.434 |
0.321 |
|
Total Non-Current
Assets |
3664.084 |
3950.520 |
4340.770 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1501.340 |
1144.405 |
1088.959 |
|
(c) Trade
receivables |
334.814 |
256.282 |
300.370 |
|
(d) Cash and
bank balances |
815.713 |
580.184 |
291.126 |
|
(e)
Short-term loans and advances |
67.385 |
72.611 |
82.666 |
|
(f) Other
current assets |
1.695 |
0.827 |
1.407 |
|
Total
Current Assets |
2720.947 |
2054.309 |
1764.528 |
|
|
|
|
|
|
TOTAL |
6385.031 |
6004.829 |
6105.298 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Income |
4751.443 |
3927.740 |
3408.383 |
|
|
Other Income |
74.617 |
32.977 |
40.993 |
|
|
TOTAL |
4826.060 |
3960.717 |
3449.376 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
1907.739 |
1615.536 |
1246.310 |
|
|
Purchases of
Stock-in-Trade |
0.000 |
94.667 |
616.906 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(57.292) |
(7.086) |
47.697 |
|
|
Employee benefit expense |
479.214 |
373.065 |
299.228 |
|
|
Other expenses |
1576.391 |
1467.541 |
1205.863 |
|
|
TOTAL |
3906.052 |
3543.723 |
3416.004 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
920.008 |
416.994 |
33.372 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
9.824 |
18.534 |
8.613 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
910.184 |
398.460 |
24.759 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
577.012 |
598.293 |
210.031 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
333.172 |
(199.833) |
(185.272) |
|
|
|
|
|
|
|
Less |
TAX |
(73.809) |
(94.277) |
11.577 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
406.981 |
(105.556) |
(196.849) |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
0.85 |
(0.22) |
(0.47) |
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 |
NA |
NA |
NA |
|
|
|
|
|
|
Net cash flows from (used in) operations |
424.659 |
826.748 |
(165.177) |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
346.087 |
816.053 |
(185.772) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
25.72 |
23.82 |
32.17 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
14.19 |
15.33 |
11.35 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
245.93 |
291.70 |
186.21 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.61 |
0.36 |
0.03 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.28 |
0.11 |
0.01 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.22 |
0.24 |
0.22 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.00 |
0.00 |
0.05 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.28 |
0.32 |
0.29 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.68 |
0.83 |
0.90 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
93.65 |
22.50 |
3.87 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
8.57 |
(2.69) |
(5.78) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
6.37 |
(1.76) |
(3.22) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
8.24 |
(2.33) |
(4.25) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.95 |
1.42 |
1.30 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.87 |
0.63 |
0.50 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.77 |
0.75 |
0.76 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.00 |
0.00 |
0.06 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.95 |
1.42 |
1.30 |
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 |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
4170.202 |
4815.804 |
4815.804 |
|
Reserves & Surplus |
(179.595) |
(285.152) |
121.829 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
645.601 |
0.000 |
0.000 |
|
Net
worth |
4636.208 |
4530.652 |
4937.633 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
250.000 |
0.000 |
0.000 |
|
Total
borrowings |
250.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.054 |
0.000 |
0.000 |
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 |
3408.383 |
3927.740 |
4751.443 |
|
|
|
15.238 |
20.971 |
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 |
3408.383 |
3927.740 |
4751.443 |
|
Profit/ (Loss) |
(196.849) |
(105.556) |
406.981 |
|
|
(5.78
%) |
(2.69
%) |
8.57
% |
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 |
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 |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGE: No Charges Exists for Company
GENERAL INFORMATION (AS ON 31.03.2016):
Subject is a private limited company and is engaged in the business of manufacturing and trading of frozen potato based and other frozen food products. The company has its manufacturing plant in Mehsana, Gujarat and it sells its products primarily in India.
INDUSTRY SCENARIO AND STATE OF COMPANY’S
AFFAIRS (AS ON 31.03.2016):
India’s Food sector growth in last 2 years has been very slow due to unclear regulatory framework. Food Service channel is also witnessing the growing competition in the wholesale and Cash and Carry space. Retail channel has seen growth due to focused efforts on increasing distribution, freezer deployment and dedicated channel team leading to high impact In store execution. Most of QSR’s are reporting stagnant or negative same store sales growth which is constraining the growth in that channel. Their company, who is having a strong foothold in QSR, is also witnessing the same trend. Exports in SC have seen good growth.
That even after impact of the industry, their committed management has helped in achieving a growth of21.8 % in total revenue.
FIXED ASSETS:
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Office equipment
- Vehicles
- Computer equipments
Intangible assets
- Computer software
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 65.08 |
|
|
1 |
INR 89.85 |
|
Euro |
1 |
INR 80.16 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUP |
|
|
|
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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.