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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

497774

Report Date :

15.03.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

D’DÉCOR HOME FABRICS PRIVATE LIMITED (w.e.f. 19.08.2010)

 

 

Formerly Known As :

DICITEX DÉCOR PRIVATE LIMITED

 

VIRENDER PROCESSORS PRIVATE LIMITED

 

 

Registered Office :

1071/1072/1081/1082 6th Floor, Solitaire Corporate Park, Building No.10, 167, Guru Hargovindji Marg, Chakala, Andheri (East), Mumbai – 400 093, Maharashtra

Tel. No.:

91-22-66782000 / 2020

 

 

Country :

India

 

 

Financials (as on) :

31.03.2017

 

 

Date of Incorporation :

16.03.1999

 

 

Com. Reg. No.:

11-118945

 

 

Capital Investment / Paid-up Capital :

INR 37.500 Million

 

 

CIN No.:

[Company Identification No.]

U17120MH1999PTC118945

 

 

IEC No.:

[Import-Export Code No.]

0399001450

 

 

GSTN :

[Goods & Service Tax Registration No.]

Not Divulged

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AAACV8445M

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Subject is engaged in the business of manufacturing and trading of curtains, upholstery, beddings and embroidered fabrics. (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+

Low Risk

Business dealings permissible with low risk of default

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Comments :

Subject was incorporated in the year 1999 and is engaged in the business of manufacturing and trading of curtains, upholstery, beddings and embroidered fabrics.

As per the financial year 2017, the company has reported dip in its revenue by 5.38% as compared to the previous year but has managed to maintain an average profit margin of 4.41%.


The sound financial risk profile of the company is marked by adequate net worth along with average debt coverage indicators and favourable liquidity ratio.

Rating takes into consideration the subject’s established market position and brand name in the home furnishings segment, and sound distribution and procurement network.


These strengths are partially offset by susceptibility to economic downturns and to fluctuations in foreign exchange rates, exposure to intense competition, and large working capital requirement.

 
Payments seems to be regular as per commitments.


In view of the 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.

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

CRISIL

Rating

Long term borrowing: A-

Rating Explanation

Adequate degree of safety and low credit risk.

Date

01.08.2017

 

 

Rating Agency Name

CRISIL

Rating

Short term borrowing: A1

Rating Explanation

Very strong degree of safety and carry lowest credit risk.

Date

01.08.2017

 

 

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 15.03.2018

 

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 (91-22-66782000)

 

LOCATIONS

 

Registered Office :

1071/1072/1081/1082 6th Floor, Solitaire Corporate Park, Building No.10, 167, Guru Hargovindji Marg, Chakala, Andheri (East), Mumbai – 400 093, Maharashtra, India

Tel. No.:

91-22-66782000/ 2020

Fax No.:

91-22-66782001/ 2021

E-Mail :

sandeeps@ddecor.com

Website :

http://www.ddecor.com

Location :

Owned

 

 

Corporate Office :

1081/1082, Solitaire Corporate Park – 10, 167, Guru Hargovindji Marg, Andheri-Ghatkopar Link Road, Chakala, Andheri (East), Mumbai – 400 093, Maharashtra, India

 

 

Factory :

G-15, F-6, MIDC Tarapur, Boisar, District Thane – 410 506, Maharashtra, India

Tel No.:

91-2525-279384/ 270820

Fax No.:

91-2525-271991

 

 

DIRECTORS

 

AS ON 31.03.2017

 

Name :

Mr. Virenderkumar Dharamchand Arora

Designation :

Director 

Address :

54, V.K. Cottage, 9th Road, J.V.P.D. Scheme, Nutan Laxmi Society, Juhu, Mumbai – 400 049, Maharashtra, India

Date of Birth/Age :

05.04.1939

Qualifications and experience :

B. Com having more than 45 years of experience

Date of Appointment :

31.07.2000

DIN No.:

00276052

PAN No.:

AADPA3937H

 

 

Name :

Mr. Ajay Virender Arora

Designation :

Director 

Address :

54, V.K. Cottage, 9th Road, J.V.P.D. Scheme, Nutan Laxmi Society, Juhu, Mumbai – 400 049, Maharashtra, India

Date of Birth/Age :

07.07.1968

Qualifications and experience :

Bachelor in Textiles, OPM Programme at Harvard Business School

Date of Appointment :

28.07.1999

DIN No.:

00276143

PAN No.:

ADDPA6742R

 

 

Name :

Mrs. Simone Arora

Designation :

Director

Address :

54, V.K. Cottage, 9th Road, J.V.P.D. Scheme, Nutan Laxmi Society, Juhu, Mumbai – 400 049, Maharashtra, India

Date of Birth/Age :

12.12.1971

Date of Appointment :

30.09.2013

DIN No.:

03034132

PAN No.:

ADFPA7357J

 

 

Name :

Mr. Shripad Gopal Talwelkar

Designation :

Director

Address :

Flat No. 201, Wing B-1, Sector 1, Rooprajat Park, Betegaon, Boisar (East), District Palghar Thane - 401501, Maharashtra, India

Date of Appointment :

30.09.2015

DIN No.:

07243925

 

 

MAJOR SHAREHOLDERS

 

AS ON 31.03.2017

 

Names of Shareholders

No. of Shares

%age holding

Virenderkumar Dharamchand Arora

281250

7.50

Ajay Virender Arora

3171000

84.56

Neena Arora

281250

7.50

Simone Arora

16500

0.44

Total

3750000

100.00

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 30.09.2017

 

Category

Percentage

Promoters- Individual/Hindu Undivided Family- Indian

100.00

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Subject is engaged in the business of manufacturing and trading of curtains, upholstery, beddings and embroidered fabrics. (Registered activity)

 

 

Products / Services :

Name and Description of main products / services

NIC Code of the Product/service

Fabric

13921

Made Ups and Others

13922

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged 

 

 

Imports :

Not Divulged 

 

 

Terms :

Not Divulged 

 

 

PRODUCTION STATUS – (NOT AVAILABLE)

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged 

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

Customers :

Reference :

Not Divulged 

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

No. of Employees :

Information denied by the management

 

 

Bankers :

Banker Name :

HDFC Bank Limited

Branch :

Unit No - 401 and 402, 4th Floor, Tower B, Peninsula, Business Park, Lower Parel, Mumbai - 400013, Maharashtra, India

Person Name (With Designation) :

--

Contact Number :

--

Name of Account Holder :

--

Account Number :

--

Account Since (Date/Year of Account Opening) :

--

Average Balance Maintained :

--

Credit Facilities Enjoyed (CC/OD/Term Loan) :

--

Account Operation :

--

Remark :

--

 

  • HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel West, Mumbai - 400013, Maharashtra, India
  • Citi Bank N.A., First International Financials Centre, 9th Floor, Plot No. C-5 and 55, G-Block, BKC, Bandra (East), Mumbai - 400051, Maharashtra, India

 

 

Facilities :

(INR In Million)

SECURED LOAN

As on

31.03.2017

As on

31.03.2016

LONG TERM BORROWING

 

 

Rupee term loans from banks

734.150

1044.466

Loans taken for fixed assets

3.652

5.386

SHORT TERM BORROWING

 

 

Loans repayable on demand from banks

1787.383

1370.632

Total

2525.185

2420.484

 

Auditors :

 

Name :

B S R and Company LLP

Chartered Accountants

Address :

NM Joshi Nagar, 1st Floor, Apollo Mills Compound, Mahalaxmi, Mumbai – 400011, Maharashtra, India

PAN N Income-tax PAN of auditor or auditor's firm :

AAAFB9852F

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Enterprises which are

owned, or have significant influence of or are partners with Key management personnel and their relatives:
  • D.C. Polyester Private Limited, India [U99999MH1986PTC039325]
  • D' Decor Exports Private Limited, India [U17120MH2013PTC248691]
  • Manohar Dyeing and Printing Works Private Limited, India
  • D'Décor Home Store LLP
  • Simone's Naturally Inspired Living LLP
  • D'Décor Properties LLP
  • Shakti Sales Corporation

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2017

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

4000000

Equity Shares

INR 10/- each

INR 40.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

3750000

Equity Shares

INR 10/- each

INR 37.500 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

37.500

37.500

37.500

(b) Reserves and Surplus

2964.212

2716.229

2339.569

(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)

3001.712

2753.729

2377.069

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

737.802

1049.852

1065.646

(b) Deferred tax liabilities (Net)

310.826

292.002

256.974

(c) Other long-term liabilities

22.351

21.661

15.306

(d) long-term provisions

52.089

29.689

32.021

Total Non-current Liabilities (3)

1123.068

1393.204

1369.947

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short-term borrowings

2013.334

1370.632

1382.394

(b) Trade payables

422.182

385.376

315.475

(c) Other current liabilities

781.498

755.408

660.999

(d) Short-term provisions

36.710

25.734

21.864

Total Current Liabilities (4)

3253.724

2537.150

2380.732

 

 

 

 

TOTAL

7378.504

6684.083

6127.748

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

3821.775

3374.089

3292.515

(ii) Intangible Assets

61.558

3.374

2.054

(iii) Tangible assets capital work-in-progress

33.842

60.435

69.286

(iv) Intangible assets under development

2.053

71.053

0.000

(b) Non-current Investments

288.578

293.753

0.000

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d) Long-term loans and advances

171.416

166.333

232.498

(e) Other Non-current assets

0.025

0.025

0.025

Total Non-Current Assets

4379.247

3969.062

3596.378

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

1015.566

887.058

740.118

(c) Trade receivables

1073.895

1123.547

907.112

(d) Cash and bank balances

540.029

252.764

286.398

(e) Short-term loans and advances

368.592

451.652

597.742

(f) Other current assets

1.175

0.000

0.000

Total Current Assets

2999.257

2715.021

2531.370

 

 

 

 

TOTAL

7378.504

6684.083

6127.748

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2017

31.03.2016

31.03.2015

 

SALES

 

 

 

 

Income

5617.509

5936.811

5642.490

 

Other Income

293.650

87.955

237.073

 

TOTAL

5911.159

6024.766

5879.563

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

2179.481

2351.053

2311.741

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

(103.552)

(113.629)

(72.073)

 

Employee benefit expense

1079.018

1043.044

934.344

 

CSR expenditure

12.100

2.000

0.000

 

Other expenses

1765.306

1644.513

1563.369

 

Prior period items before tax

0.000

17.562

0.000

 

TOTAL

4932.353

4944.543

4737.381

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

978.806

1080.223

1142.182

 

 

 

 

 

Less

FINANCIAL EXPENSES

138.315

96.296

113.836

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

840.491

983.927

1028.346

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

468.885

422.239

369.325

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

371.606

561.688

659.021

 

 

 

 

 

Less

TAX

123.623

185.027

181.712

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX

247.983

376.661

477.309

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

F.O.B. Value of Exports

3273.685

3626.997

3810.451

 

TOTAL EARNINGS

3273.685

3626.997

3810.451

 

 

 

 

 

 

IMPORTS

 

 

 

 

Raw Materials

118.149

121.900

131.150

 

Components and spare parts

36.980

66.370

35.596

 

Capital Goods

360.479

431.482

139.096

 

TOTAL IMPORTS

515.608

619.752

305.843

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

66.13

100.44

127.28

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2017

31.03.2016

31.03.2015

Current Maturities of Long term debt

464.451

345.563

289.340

 

 

 

 

Cash generated from operations

NA

NA

NA

 

 

 

 

Net cash flows from (used in) operations

761.281

855.295

733.090

 

 

 

 

Net cash flows from (used in) operating activities

647.452

714.416

573.255

 

 

KEY RATIOS

 

EFFICIENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Average Collection Days

(Sundry Debtors / Income * 365 Days)

69.78

69.08

58.68

 

 

 

 

Account Receivables Turnover

(Income / Sundry Debtors)

5.23

5.28

6.22

 

 

 

 

Average Payment Days

(Sundry Creditors / Purchases * 365 Days)

70.70

59.83

49.81

 

 

 

 

Inventory Turnover

(Operating Income / Inventories)

0.96

1.22

1.54

 

 

 

 

Asset Turnover

(Operating Income / Net Fixed Assets)

0.25

0.31

0.34

 

LEVERAGE RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Debt Ratio

((Borrowing + Current Liabilities) / Total Assets)

0.60

0.59

0.61

 

 

 

 

Debt Equity Ratio

(Total Liability / Networth)

1.07

1.00

1.15

 

 

 

 

Current Liabilities to Networth

(Current Liabilities / Net Worth)

1.08

0.92

1.00

 

 

 

 

Fixed Assets to Networth

(Net Fixed Assets / Networth)

1.31

1.27

1.42

 

 

 

 

Interest Coverage Ratio

(PBIT / Financial Charges)

7.08

11.22

10.03

 

PROFITABILITY RATIOS

 

PARTICULARS

 

 

31.03.2017

31.03.2016

31.03.2015

Net Profit Margin

((PAT / Sales) * 100)

%

4.41

6.34

8.46

 

 

 

 

 

Return on Total Assets

((PAT / Total Assets) * 100)

%

3.36

5.64

7.79

 

 

 

 

 

Return on Investment (ROI)

((PAT / Networth) * 100)

%

8.26

13.68

20.08

 

SOLVENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Current Ratio

(Current Assets / Current Liabilities)

0.92

1.07

1.06

 

 

 

 

Quick Ratio

((Current Assets – Inventories) / Current Liabilities)

0.61

0.72

0.75

 

 

 

 

G-Score Ratio Financial

(Networth / Total Assets)

0.41

0.41

0.39

 

 

 

 

G-Score Ratio Debt

(Debts / Equity Capital)

85.75

73.76

73.00

 

 

 

 

G-Score Ratio Liquidity

(Total Current Assets / Total Current Liabilities)

0.92

1.07

1.06

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

37.500

37.500

37.500

Reserves & Surplus

2339.569

2716.229

2964.212

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

0.000

0.000

0.000

Net worth

2377.069

2753.729

3001.712

 

 

 

 

Long-term borrowings

1065.645

1049.852

737.802

Short term borrowings

1382.394

1370.632

2013.334

Current maturities of long-term debts

289.340

345.563

464.451

Total borrowings

2737.379

2766.047

3215.587

Debt/Equity ratio

1.152

1.004

1.071

 

 

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

5642.490

5936.811

5617.509

 

0.000

5.216

(5.378)

 

 

 

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

5642.490

5936.811

5617.509

Profit/ (Loss)

477.309

376.661

247.983

 

8.46 %

6.34 %

4.41 %

 

 

 

 

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

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

Yes

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

 

 

COMPANY OVERVIEW

 

The Company was incorporated on 16 March 1999 as Dicitex Decor Private Limited. The name of the Company was changed to D'Decor Home Fabrics Private Limited ('the Company') on 19 August 2010. The Company is engaged in the business of manufacturing and trading of curtains, upholstery, beddings and embroidered fabrics.

UNSECURED LOANS:

(INR In Million)

Particulars

As on

31.03.2017

As on

31.03.2016

SHORT TERM BORROWING

 

 

Working capital loans from banks

225.951

0.000

Total

225.951

0.000

 

 

INDEX OF CHARGE:

 

SNO

SRN

CHARGE ID

CHARGE HOLDER NAME

DATE OF CREATION

DATE OF MODIFICATION

AMOUNT

ADDRESS

1

G72753189

100146674

HDFC BANK LIMITED

01/11/2017

-

315000000.0

HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN

2

G04685780

100029807

HDFC BANK LIMITED

05/03/2016

-

500000000.0

UNIT NO - 401 & 402, 4TH FLOOR, TOWER B, PENINSULABUSINESS PARK, LOWER PARELMUMBAIMH400013IN

3

C40504623

10543150

UNION BANK OF INDIA

04/12/2014

-

850000000.0

SANTACRUZ (WEST) BRANCH,LA AVANTI,, JN.OF.S.V.ROAD& MAIN AVENUE,MUMBAIMH400054IN

4

C41455726

10545096

INDUSIND BANK LTD.

24/11/2014

-

165000000.0

425, D B MARG,OPERA HOUSEMUMBAIMH400004IN

5

C22924708

10522455

AXIS BANK LIMITED

30/08/2014

-

1000000.0

TRISHUL 3RD FLOOR OPP SAMARTHESHWAR TEMPLE,LAW GARDEN ELLISBRIDGE, AHMEDABADGUJARATGJ380006IN

6

G05005368

10522929

CITI BANK N.A.

11/08/2014

02/05/2016

950000000.0

FIRST INTERNATIONAL FINANCIALS CENTRE, 9TH FLOOR,PLOT NO. C-5 & 55, G-BLOCK, BKC, BANDRA (E)MUMBAIMH400051IN

7

C20421582

10519705

UNION BANK OF INDIA

05/08/2014

-

170000000.0

SANTACRUZ (WEST) BRANCH, "LA-AVANTI"JUNCTION OF S.V.ROAD, & MAIN AVENUE, SANTACRUZ (W)MUMBAIMH400054IN

8

B62298393

10310593

ICICI BANK

11/10/2011

22/11/2012

450000000.0

ICICI BANK TOWERS,BANDRA-KURLA COMPLEX, BANDRA (E)MUMBAIMH400051IN

9

B17698754

10299265

UNION BANK OF INDIA

20/06/2011

-

400000000.0

SANTACRUZ (WEST) BRANCH, LA AVANTI,JN.OF.S.V.ROAD & MAIN AVENUE, SANTACRUZ (W),MUMBAIMH400054IN

10

G51664639

10051860

UNION BANK OF INDIA

30/04/2007

31/07/2017

4210000000.0

SANTACRUZ BRANCH, LA-AVANTI,JN. OF S.V. ROAD & MAIN AVENUE, SANTACRUZ (WEST),MUMBAIMH400054IN

 

 

FIXED ASSETS:

 

Tangible assets

 

  • Land
  • Buildings
  • Plant and equipment
  • Furniture and fixtures
  • Vehicles
  • Office equipment
  • 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, India Prisons Service, Interpol, etc.

 

1]         INFORMATION ON DESIGNATED PARTY

No records exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

 

2]         Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

 

3]         Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

 

4]         Record on Financial Crime :

            Charges or conviction registered against subject:                                                           None

 

5]         Records on Violation of Anti-Corruption Laws :

            Charges or investigation registered against subject:                                                        None

 

6]         Records on Int’l Anti-Money Laundering Laws/Standards :

            Charges or investigation registered against subject:                                                        None

 

7]         Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

 

8]         Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

 

9]         Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

 

10]        Press Report :

            No press reports / filings exists on the subject.

 

CORPORATE GOVERNANCE

 

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

 

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

 

 

CONTRAVENTION

 

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

 

 

FOREIGN EXCHANGE RATES

 

Currency

 
Unit

INR

US Dollar

1

INR 64.99

UK Pound

1

INR 90.83

Euro

1

INR 80.58

 

 

INFORMATION DETAILS

 

Information Gathered by :

SVA

 

 

Analysis Done by :

PRY

 

 

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)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.