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MIRA INFORM REPORT
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Report No. : |
496156 |
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Report Date : |
12.03.2018 |
IDENTIFICATION DETAILS
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Name : |
HERO FUTURE ENERGIES PRIVATE LIMITED [w.e.f. 01.01.2015] |
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Formerly Known
As : |
HERO FUTURE ENERGIES LIMITED [w.e.f. 10.06.2013] HERO FUTURE ENERGIES PRIVATE LIMITED [w.e.f.17.01.2013] HERO CLEAN POWER PRIVATE LIMITED |
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Registered
Office : |
202, Third Floor, Okhla Industrial Estate, Phase – III, New Delhi -
110020 |
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Tel. No.: |
91-11-49598000 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
18.10.2012 |
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Com. Reg. No.: |
55-243852 |
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Capital
Investment / Paid-up Capital : |
INR 7475.500 Million |
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CIN No.: [Company Identification
No.] |
U40101DL2012PTC243852 |
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IEC No.: [Import-Export Code No.] |
Not Divulged |
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GSTN : [Goods & Service Tax
Registration No.] |
07AADCH0559F1ZS |
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TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AADCH0559F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
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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)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Maximum Credit Limit : |
USD 22425000 |
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Status : |
Good |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 2012. The company is jointly and majority owned by the promoters of the Hero group, BCIPL and BMOP, which hold 20.00% and 13.99%, respectively, in Hero Motocorp Limited As per the Registrar of Companies date of balance sheet (i.e. financial filed) is shown as 31.03.2017 but documents related to the financial for the year 31.03.2017 are not available from any sources. As per the financial records of 2016, the company has achieved a favourable profitability margin but has reported a decline in its revenue as compared to the previous year’s revenue. The company has sound net worth base marked by strong capital structure along with comfortable debt level. However, rating is constrained on account of low reserve base. Rating takes into consideration managerial support that the company derives from the Hero group. Business is active. Payment seems to be slow but correct. In view of aforesaid, the company can be considered for business dealings at usual trade terms and condition. |
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
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Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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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 |
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Very High Risk |
D |
EXTERNAL AGENCY RATING
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Rating Agency Name |
CRISIL |
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Rating |
Short Term Loans = A1+ |
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Rating Explanation |
Very strong degree of safety and carry lowest credit risk. |
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Date |
12.06.2017 |
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 (Tel No.: 91-11-49598000)
LOCATIONS
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Registered Office/ Corporate Office : |
202, Third Floor, Okhla Industrial Estate, Phase – III, New Delhi –
110020, India |
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Tel. No.: |
91-11-49598000 |
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Fax No.: |
91-11–49598022 |
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E-Mail : |
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Website : |
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Chennai office: |
No. 45/6, Shri Karthik Bajaj Flats, Ground Floor, B Block,
Nerkundram Pathai, |
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Bangalore office: |
No. 302, 3rd Floor, Prestige Infantry Court, Infantry Road, Bangalore - 560001, Karnataka, India |
DIRECTORS
AS ON 2018
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Name : |
Mr. Rahul Munjal |
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Designation : |
Managing Director |
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Address : |
B-109, Greater Kailash – I, New Delhi – 110048, India |
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Date of Birth/Age : |
14.01.1976 |
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Qualification: |
Degree In Economics From The University of Rochester, USA |
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Date of Appointment : |
01.01.2013 |
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PAN No.: |
AIZPM7525R |
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DIN No.: |
00118339 |
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Other Directorship:
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Name : |
Mr. Suman Kant Munjal |
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Designation : |
Director |
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Address : |
K-5, W12 Western Avenue, Sainik Farms, New Delhi - 110062, India |
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Date of Birth/Age : |
26.02.1953 |
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Qualification: |
Graduate In Commerce B.Com |
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Date of Appointment : |
18.10.2012 |
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DIN No.: |
00002803 |
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Other Directorship:
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Name : |
Mr. Sunil Kant Munjal |
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Designation : |
Director |
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Address : |
1-A, Friends Colony, (West) New Delhi – 110065, India |
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Date of Birth/Age : |
14.12.1957 |
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Qualification: |
Graduate In Commerce B.Com |
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Date of Appointment : |
18.10.2012 |
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DIN No.: |
00003902 |
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Other Directorship:
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Name : |
Mr. Pawan Munjal |
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Designation : |
Director |
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Address : |
B-109, Greater Kailash - I, New Delhi – 110048, India |
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Date of Appointment : |
18.10.2012 |
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DIN No.: |
00004223 |
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Other Directorship:
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Name : |
Mrs. Renu Munjal |
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Designation : |
Director |
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Address : |
B-109, Greater Kailash, Part - 1, New Delhi - 110048, India |
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Date of Birth/Age : |
06.03.1985 |
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Date of Appointment : |
18.10.2012 |
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DIN No.: |
00012870 |
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Other Directorship:
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Name : |
Mr. Vivek Mehra |
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Designation : |
Director |
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Address : |
B-314, New Friends Colony, New Delhi - 110065, India |
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Date of Appointment : |
30.08.2017 |
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DIN No.: |
00101328 |
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Other Directorship:
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Name : |
Mr. Jean Paul Andre Philippe Pinard |
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Designation : |
Nominee Director |
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Address : |
60 Bayshore Road #30-01 Bayshore Park Singapore 469982 |
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Date of Appointment : |
30.08.2017 |
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DIN No.: |
07873867 |
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KEY EXECUTIVES
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Name : |
Mr. Mayur Maheshwari |
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Designation : |
Company Secretary |
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Address : |
C-508, Sarita Vihar, New Delhi – 110076, India |
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Date of Appointment : |
01.02.2013 |
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PAN No.: |
ANCPM1480B |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
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Names of Shareholders [Equity Shares] |
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No. of Shares |
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Suman Kant Munjal |
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16 |
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Renu Munjal |
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13 |
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Pawan Munjal |
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16 |
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Rahul Munjal |
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5 |
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Suman Kant Munjal* |
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136666665 |
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Renu Munjal* |
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136666671 |
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Pawan Munjal* |
|
136666664 |
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Bahadur Chand Investments Private Limited |
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337549950 |
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International Finance Corporation |
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50 |
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IFC GIF Holding II Coopratief U.A |
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50 |
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Total |
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747550100 |
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Names of Shareholders [Preference Shares] |
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No. of Shares |
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International Finance Corporation |
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16657063 |
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IFC GIF Holding II Coopratief U.A |
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16672738 |
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Total |
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33329801 |
AS ON 30.08.2017
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Equity Share
Break up |
Percentage |
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Category |
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Promoters – [Individual/Hindu Undivided Family – Indian] |
54.85 |
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Promoters – [Bodies corporate] |
45.15 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
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Products / Services
: |
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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 (AS ON 31.03.2016):
Installed Capacity of 302 GW
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 : |
· AXIS Bank Limited · HDFC Bank Limited · Kotak Mahindra Bank Limited ·
IndusInd Bank |
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Facilities : |
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Auditors : |
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Name : |
S. R. Dinodia and Company Chartered Accountants |
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Address : |
K-39, Connaught Place, New Delhi, India |
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PAN No.: |
AACFS2559N |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Subsidiary
Companies: |
[CIN NO.: U40106DL2013PTC250501]
[CIN NO.: U40300DL2013PTC251839]
[CIN NO.: U40300DL2013PTC253648] |
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Subsidiary
Companies: [As On 31.03.2016] |
[CIN NO.: U40106DL2012PTC245031]
[CIN NO.: U40300DL2013PTC255814]
[CIN NO.: U40300DL2013PTC261133] |
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Enterprises which
are owned, or have significant
influence of or are partners with Key management personnel and their
relatives: [As On 31.03.2016] |
Hero Fincorp Limited, India [CIN NO.: U74899DL1991PLC046774] |
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Other Related
Parties: [As On 31.03.2016] |
[CIN NO.: U65921PB1979PTC004037] |
CAPITAL STRUCTURE
AS ON 30.08.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
775000000 |
Equity Shares |
INR 10/- each |
INR 7750.000 Million |
|
90000000 |
Preference Shares |
INR 100/- each |
INR 9000.000 Million |
|
|
Total |
|
INR 16750.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
747550100 |
Equity Shares |
INR 10/- each |
INR 7475.501 Million |
|
33329801 |
Preference Shares |
INR 100/- each |
INR 3332.980 Million |
|
|
Total |
|
INR 10808.481
Million |
AS ON 31.03.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
775000000 |
Equity Shares |
INR 10/- each |
INR 7750.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
747550000 |
Equity Shares |
INR 10/- each |
INR 7475.500 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET [STANDALONE]
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
7475.500 |
4725.500 |
2725.500 |
|
(b) Reserves &
Surplus |
373.139 |
250.908 |
(86.658) |
|
(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) |
7848.639 |
4976.408 |
2638.842 |
|
|
|
|
|
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(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
5.546 |
6.284 |
9.001 |
|
(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 |
18.598 |
5.749 |
3.797 |
|
Total Non-current
Liabilities (3) |
24.144 |
12.033 |
12.798 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
700.000 |
0.000 |
0.000 |
|
(b) Trade payables |
59.733 |
37.084 |
15.892 |
|
(c) Other current
liabilities |
17.624 |
15.677 |
19.422 |
|
(d) Short-term provisions |
10.949 |
0.101 |
0.142 |
|
Total Current Liabilities
(4) |
788.306 |
52.862 |
35.456 |
|
|
|
|
|
|
TOTAL |
8661.089 |
5041.303 |
2687.096 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
19.878 |
19.117 |
21.929 |
|
(ii) Intangible Assets |
0.596 |
0.531 |
0.385 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
9.313 |
|
(iv) Intangible assets
under development |
6.868 |
1.799 |
0.000 |
|
(b) Non-current Investments |
4206.390 |
4206.390 |
2217.185 |
|
(c) Deferred tax assets
(net) |
10.983 |
2.034 |
1.640 |
|
(d) Long-term Loan and Advances |
3645.838 |
365.086 |
14.886 |
|
(e) Other Non-current
assets |
7.049 |
25.128 |
24.429 |
|
Total Non-Current Assets |
7897.602 |
4620.085 |
2289.767 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
60.754 |
0.000 |
0.000 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
313.973 |
323.205 |
74.646 |
|
(d) Cash and cash equivalents |
205.576 |
70.574 |
314.132 |
|
(e) Short-term loans and
advances |
8.340 |
12.692 |
8.551 |
|
(f) Other current assets |
174.844 |
14.747 |
0.000 |
|
Total Current Assets |
763.487 |
421.218 |
397.329 |
|
|
|
|
|
|
TOTAL |
8661.089 |
5041.303 |
2687.096 |
PROFIT
& LOSS ACCOUNT [STANDALONE]
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Income |
255.703 |
269.730 |
81.050 |
|
|
Other Income |
214.805 |
45.331 |
23.809 |
|
|
470.508 |
315.061 |
104.859 |
|
|
|
TOTAL |
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
0.000 |
0.000 |
0.000 |
|
|
Purchases of
Stock-in-Trade |
0.000 |
0.000 |
5.460 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
0.000 |
0.000 |
0.000 |
|
|
Employees benefits
expense |
132.788 |
101.422 |
80.360 |
|
|
CSR
expenditure |
0.359 |
0.000 |
0.000 |
|
|
Other expenses |
106.429 |
71.925 |
88.715 |
|
|
Extraordinary
items before tax |
0.000 |
(216.568) |
0.000 |
|
|
TOTAL |
239.576 |
(43.221) |
174.535 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
230.932 |
358.282 |
(69.676) |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
37.992 |
10.738 |
2.040 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
192.940 |
347.544 |
(71.716) |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
4.701 |
3.979 |
2.417 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
188.239 |
343.565 |
(74.133) |
|
|
|
|
|
|
|
Less |
TAX |
66.007 |
5.999 |
0.925 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
122.232 |
337.566 |
(75.058) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
|
|
|
|
Basic |
0.19 |
0.80 |
(0.46) |
|
|
Diluted |
0.19 |
0.80 |
NA |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
3.568 |
2.717 |
2.468 |
|
Net cash flow from (used in) operations |
238.774 |
(323.134) |
(83.571) |
|
Net cash flow from operating activities |
28.402 |
(220.681) |
(92.117) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days [Sundry Debtors / Income *
365] |
448.18 |
437.36 |
336.16 |
|
|
|
|
|
|
Account Receivables Turnover [Income / Sunday Debtors] |
0.81 |
0.83 |
1.09 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
0.00 |
0.00 |
1062.38 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
8.45 |
16.71 |
(2.20) |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.09 |
0.01 |
0.02 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.09 |
0.00 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.10 |
0.01 |
0.01 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.00 |
0.00 |
0.01 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
6.08 |
33.37 |
(34.15) |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
PAT to Sales ((PAT / Sales) * 100) |
% |
47.80 |
125.15 |
(92.61) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
1.41 |
6.70 |
(2.79) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
1.56 |
6.78 |
(2.84) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current Assets / Current Liabilities) |
0.97 |
7.97 |
11.21 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.97 |
7.97 |
11.21 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.91 |
0.99 |
0.98 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
0.09 |
0.00 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
0.97 |
7.97 |
11.21 |
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 |
2725.500 |
4725.500 |
7475.500 |
|
Reserves & Surplus |
(86.658) |
250.908 |
373.139 |
|
Net
worth |
2638.842 |
4976.408 |
7848.639 |
|
|
|
|
|
|
Long Term borrowings |
9.001 |
6.284 |
5.546 |
|
Short Term borrowings |
0.000 |
0.000 |
700.000 |
|
Current Maturities of Long term debt |
2.468 |
2.717 |
3.568 |
|
Total
borrowings |
11.469 |
9.001 |
709.114 |
|
Debt/Equity
ratio |
0.004 |
0.002 |
0.090 |
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
|
81.050 |
269.730 |
255.703 |
|
|
|
232.795 |
(5.200) |
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
|
81.050 |
269.730 |
255.703 |
|
Profit/
(Loss) |
(75.058) |
337.566 |
122.232 |
|
|
(92.61%) |
125.15% |
47.80% |
ABRIDGED
BALANCE SHEET [CONSOLIDATED]
|
SOURCES OF FUNDS |
|
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
7475.500 |
4725.500 |
|
(b) Reserves and Surplus |
|
(307.060) |
(348.307) |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
(d) Minority interest |
|
6.253 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
7168.440 |
4377.193 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
16742.946 |
9435.741 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
22.092 |
6.963 |
|
Total Non-current
Liabilities (3) |
|
16765.038 |
9442.704 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
|
976.613 |
923.586 |
|
(b) Trade
payables |
|
131.614 |
77.584 |
|
(c) Other
current liabilities |
|
3308.967 |
3290.689 |
|
(d) Short-term
provisions |
|
10.851 |
0.930 |
|
Total Current
Liabilities (4) |
|
4428.045 |
4292.789 |
|
|
|
|
|
|
TOTAL |
|
28367.776 |
18112.686 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
21556.247 |
12697.447 |
|
(ii)
Intangible Assets |
|
706.180 |
658.629 |
|
(iii) Tangible assets capital
work-in-progress |
|
1944.659 |
2623.231 |
|
(iv)
Intangible assets under development |
|
6.868 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
25.590 |
8.298 |
|
(d)
Long-term loans and advances |
|
791.924 |
566.082 |
|
(e) Other
Non-current assets |
|
217.538 |
26.246 |
|
Total Non-Current
Assets |
|
25249.006 |
16579.933 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
608.270 |
0.000 |
|
(b)
Inventories |
|
28.589 |
23.322 |
|
(c) Trade
receivables |
|
1363.474 |
297.606 |
|
(d) Cash and
bank balances |
|
1101.116 |
1146.393 |
|
(e)
Short-term loans and advances |
|
151.922 |
44.866 |
|
(f) Other
current assets |
|
(134.601) |
20.566 |
|
Total
Current Assets |
|
3118.770 |
1532.753 |
|
|
|
|
|
|
TOTAL |
|
28367.776 |
18112.686 |
PROFIT
& LOSS ACCOUNT [CONSOLIDATED]
|
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
|
2837.172 |
865.611 |
|
|
Other Income |
|
103.840 |
57.152 |
|
|
TOTAL |
|
2941.012 |
922.763 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
291.961 |
202.361 |
|
|
Purchases of
Stock-in-Trade |
|
0.415 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
23.217 |
(23.322) |
|
|
Employee benefit expense |
|
205.640 |
130.238 |
|
|
Other expenses |
|
389.100 |
203.917 |
|
|
Extraordinary items before tax |
|
(0.163) |
0.000 |
|
|
TOTAL |
|
910.170 |
513.194 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
2030.842 |
409.569 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
1439.356 |
458.141 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
591.486 |
(48.572) |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
|
741.437 |
225.315 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
(149.951) |
(273.887) |
|
|
|
|
|
|
|
Less |
TAX |
|
91.424 |
14.501 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
(241.375) |
(288.388) |
|
|
|
|
|
|
|
|
Profit (loss) of minority
interest |
|
(3.524) |
13.844 |
|
|
Share of profit (loss) of
associates |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL
PROFIT (LOSS) FOR PERIOD |
|
(244.899) |
(274.544) |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
|
|
|
|
Basic |
|
(0.58) |
(0.65) |
|
|
Diluted |
|
(0.58) |
(0.65) |
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 |
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 |
CORPORATE INFORMATION
[As On 31.03.2016]
Hero Future Energies Private Limited (Previously known as Hero Future Energies Limited till December 31, 2014 vide fresh Certificate of Incorporation issued by the Registrar of Companies, Delhi dated January 01, 2015) is a company domiciled in India and was incorporated on 18th October 2012, under the provisions of the Companies Act, 1956. The Company, through its subsidiaries, is primarily engaged in the implementation of power projects and generation of power through renewable sources of energy and to provide professional consultancy services in relation thereto
PROFILE
Subject is a part of the Hero Munjal Group, a leading business house in India. HFE is engaged in the development and construction of power generation projects through renewable source. HFE strongly believes in Clean and Green Power and their Projects shall be using the best technologies with a minimum impact on environment.
REVIEW OF
OPERATIONS-COMPANY’S PERFORMANCE
Standalone
Total revenue decreased to INR 255.700 Million as on March 31, 2016 from INR 269.730 Million as on March 31, 2015. The Profit after tax has decreased to INR 122.240 Million as on March 31, 2016 from INR 337.570 Million as on March 31, 2015.
BRIEF DESCRIPTION OF
THE COMPANY’S WORKING DURING THE YEAR/STATE OF COMPANY’S AFFAIR
The Company has commissioned 110 MW projects in this financial year. The Company has done one wind projects aggregating to 100 MW in the state of Madhya Pradesh. 10 MW solar project has also been commissioned in Karnataka. Apart from this Company is developing project of over 600 MW for next financial year.
INDEX OF CHARGE:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Satisfaction |
Amount |
Address |
|
1 |
G35005222 |
100075631 |
IDBI TRUSTEESHIP SERVICES LIMITED |
01/02/2017 |
- |
1750000000.0 |
ASIAN BUILDING., GROUND FLOOR, 17, R. KAMANI MARG, BALLARD ESTATE, MUMBAI – 400001, MAHARASHTRA, INDIA |
|
2 |
C75104547 |
10611392 |
ICICI BANK LIMITED |
18/12/2015 |
- |
547500000.0 |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, VADODARA -390015, GUJARAT, INDIA |
|
3 |
C63344030 |
10567332 |
YES BANK LIMITED |
13/04/2015 |
04/09/2015 |
584000000.0 |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA,DR. ANNIE BESANT ROAD, WORLI, MUMBAI – 400018, MAHARASHTRA, INDIA |
FIXED ASSETS:
Tangible Assets
·
Furniture and Fixture
·
Computer Equipment
·
Vehicles
·
Office Equipment
·
Motor Car
· Leasehold improvements
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 : |
ASK |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared
by : |
GEET |
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.