|
|
|
MIRA INFORM REPORT
|
Report No. : |
498089 |
|
Report Date : |
17.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
KELLOGG INDIA PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
KELLOGG INDIA LIMITED |
|
|
|
|
Registered
Office : |
Plot No. L2 and L3, MIDC, Taloja, Raigad – 410208, Maharashtra |
|
Tel. No.: |
91-22-66484000 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2016 |
|
|
|
|
Date of
Incorporation : |
10.10.1990 |
|
|
|
|
Com. Reg. No.: |
11-058489 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 769.581 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15490MH1990PTC058489 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
0393032043 |
|
|
|
|
TIN No.: |
27030241413 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACK1748A |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
GSTN : [Goods & Service Tax Registration
No.] |
27AAACK1748A1ZZ |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer
of Processed Foods. (Registered Activity) |
|
|
|
|
No. of Employees
: |
Information declined 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 |
|
Maximum Credit Limit : |
USD 15100000 |
|
|
|
|
Status : |
Excellent |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is a subsidiary of “Kellogg”, United States. The company was incorporated in the year 1990. It is engaged in the business of manufacturing and selling of processed Food Business. Some of its major products are Chocos, corn Flakes, Honey Loops and Oat-bites. As per available financials for the year 2016, the revenue of the company has increased by 11.98% along with profit margin of 1.55%. The robust financial profile of the company is marked by healthy networth base along with strong debt coverage indicators due to debt free balance sheet profile. It is also to be noted that the “Kellogg” has been ranked at 216 place in global fortune 500, company list 2017, which is considered good company. Rating also takes into consideration strong financial and managerial support that the company receives from its holding entity backed by its well experienced management team. Rating also derives strength from company’s established track record of business. However, rating strengths are partially offset by unfavourable gap between trade payables and trade receivables. Business is active. Payment seems to be regular. In view of aforesaid, the company can be considered for good business dealings at usual trade terms and conditions. Note: As per the Registrar of Companies date of balance sheet (i.e. financial filed) is shown as 31.03.2017 but documents related to financial for the year 31.03.2017 are not available from any sources. |
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 |
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 17.03.2018
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 DECLINED
Management non-cooperative (Tel No.: 91-22-42985000)
Mobile No.: 91-9810598738 – Not Reachable
LOCATIONS
|
Registered Office/ Factory : |
Plot No L2 and L3, MIDC, Taloja, Raigad – 410208, Maharashtra, India |
|
Tel. No.: |
91-22-30927000/ 30927074 |
|
Fax No.: |
91-22-30927001 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office / Regional Sales Office : |
1001-1002, 10th Floor, Hiranandani Knowledge Park, Hiranandani
Business Park, Powai, Mumbai-400076, Maharashtra, India |
|
Tel No.: |
91-22-42985000 |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Mohit Anand |
|
Designation : |
Managing Director |
|
Address : |
C - 698, Sarita Vihar, New Delhi-110044, India |
|
Date of Appointment : |
07.09.2017 |
|
DIN No.: |
07896691 |
|
|
|
|
Name : |
Mr. Tharakad Swaminathan Venkatram |
|
Designation : |
Director |
|
Address : |
RH-606, Purva Riviera, Airport Road, Marathahallai, Bangalore-560037,
Karnataka, India |
|
Date of Birth/Age : |
27.08.1968 |
|
Date of Appointment : |
24.04.2012 |
|
DIN No.: |
05262277 |
|
|
|
|
Name : |
Mr. Dinesh Charak |
|
Designation : |
Director |
|
Address : |
1D, Akme Encore Kundalahalli, ITP Road, Mahadevapura Bangalore-560037, Karnataka, India |
|
Date of Birth/Age : |
23.04.1971 |
|
Date of Appointment : |
17.01.2017 |
|
DIN No.: |
06827519 |
|
|
|
|
Name : |
Mr. Pallav Patni |
|
Designation : |
Director |
|
Address : |
Wing 1703, Lake Castle, Hiranandani, Powai, Mumbai-400076, Maharashtra, India |
|
Date of Birth/Age : |
01.04.1976 |
|
Date of Appointment : |
17.01.2017 |
|
DIN No.: |
07710374 |
|
PAN No.: |
ADMPP7644J |
KEY EXECUTIVES
|
Name : |
Mr. Pallav Patni |
|
Designation : |
Chief Financial Officer |
|
Address : |
Wing 1703, Lake Castle, Hiranandani, Powai, Mumbai-400076,
Maharashtra,
India |
|
Date of Appointment : |
11.09.2015 |
|
PAN No.: |
ADMPP7644J |
|
|
|
|
Name : |
Anushanethri Vishwanathan |
|
Designation : |
Company Secretary |
|
Address : |
B4/201, Prasad Nagar, Vadgaonsheri, Pune-411014, Maharashtra, India |
|
Date of Appointment : |
18.01.2017 |
|
PAN No.: |
AGVPV1694G |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 26.09.2017
|
Names of Shareholders |
|
No. of Shares |
|
Kellogg Company, United States of America |
|
76956329 |
|
Kellogg Asia Inc., United States of America |
|
1728 |
|
Total |
|
76958057 |
Equity Share Break up (Percentage of Total Equity)
As on 26.09.2017
|
Category |
Percentage |
|
Promoters (Body corporate) |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer
of Processed Foods. (Registered Activity) |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
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 declined by the management |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
Lovelock and Lewes Chartered Accountants |
|
Address : |
252, Veer Sawarkar Marg, Shivaji Park, Dadar, Mumbai-400028, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AABFL5878L |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Holding company (As
on 2017) : |
Kellogg Company, United State of America |
CAPITAL STRUCTURE
As on 26.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
350000000 |
Equity Shares |
INR 10/- each |
INR 3500.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
76958057 |
Equity Shares |
INR 10/- each |
INR 769.581
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in 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 |
769.581 |
769.581 |
757.960 |
|
(b) Reserves and Surplus |
4525.047 |
4402.437 |
3695.243 |
|
(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) |
5294.628 |
5172.018 |
4453.203 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
10.825 |
8.927 |
6.558 |
|
(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 |
37.445 |
33.578 |
0.000 |
|
Total Non-current
Liabilities (3) |
48.270 |
42.505 |
6.558 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
1150.158 |
1106.642 |
965.193 |
|
(c) Other current liabilities |
231.116 |
254.483 |
397.124 |
|
(d) Short-term provisions |
10.753 |
0.977 |
6.292 |
|
Total Current
Liabilities (4) |
1392.027 |
1362.102 |
1368.609 |
|
|
|
|
|
|
TOTAL |
6734.925 |
6576.625 |
5828.370 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
3423.471 |
1252.316 |
1114.506 |
|
(ii) Intangible Assets |
52.329 |
37.989 |
39.511 |
|
(iii) Tangible assets capital work-in-progress |
1072.437 |
2814.871 |
2317.193 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
72.097 |
0.000 |
|
(d) Long-term loans and advances |
571.977 |
699.729 |
812.255 |
|
(e) Other Non-current assets |
6.925 |
0.050 |
2.219 |
|
Total Non-Current
Assets |
5127.139 |
4877.052 |
4285.684 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
595.641 |
545.124 |
459.849 |
|
(c) Trade receivables |
216.725 |
120.262 |
133.372 |
|
(d) Cash and bank balances |
432.354 |
725.824 |
790.107 |
|
(e) Short-term loans and advances |
211.058 |
256.655 |
134.620 |
|
(f) Other current assets |
152.008 |
51.708 |
24.738 |
|
Total
Current Assets |
1607.786 |
1699.573 |
1542.686 |
|
|
|
|
|
|
TOTAL |
6734.925 |
6576.625 |
5828.370 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Revenue
from operations |
7908.938 |
7062.576 |
5948.909 |
|
|
Other Income |
61.845 |
72.681 |
114.879 |
|
|
TOTAL |
7970.783 |
7135.257 |
6063.788 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
2241.707 |
2125.309 |
1711.047 |
|
|
Purchases of
Stock-in-Trade |
83.617 |
141.164 |
105.933 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(35.405) |
(65.959) |
(7.604) |
|
|
Employee benefit expense |
1006.386 |
756.799 |
534.498 |
|
|
CSR expenditure |
30.533 |
3.357 |
0.000 |
|
|
Other expenses |
4022.798 |
3464.953 |
3165.980 |
|
|
TOTAL |
7349.636 |
6425.623 |
5509.854 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
621.147 |
709.634 |
553.934 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
6.558 |
5.821 |
5.100 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND
AMORTISATION |
614.589 |
703.813 |
548.834 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
367.883 |
222.520 |
124.887 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
246.706 |
481.293 |
423.947 |
|
|
|
|
|
|
|
Less |
TAX |
124.097 |
30.903 |
88.447 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
122.609 |
450.390 |
335.500 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
473.771 |
210.337 |
126.600 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
1.59 |
5.91 |
4.93 |
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) operation |
310.887 |
657.778 |
481.020 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
10.00 |
6.22 |
8.18 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
36.49 |
58.73 |
44.60 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
180.54 |
178.22 |
193.89 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
1.04 |
1.30 |
1.20 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.14 |
0.17 |
0.16 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.21 |
0.21 |
0.24 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities
/ Net Worth) |
0.26 |
0.26 |
0.31 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.86 |
0.79 |
0.78 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
94.72 |
121.91 |
108.61 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin ((PAT
/ Sales) * 100) |
% |
1.55 |
6.38 |
5.64 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
1.82 |
6.85 |
5.76 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
2.32 |
8.71 |
7.53 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.15 |
1.25 |
1.13 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.73 |
0.85 |
0.79 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.79 |
0.79 |
0.76 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
0.01 |
0.01 |
0.01 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.15 |
1.25 |
1.13 |
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) |
|
Share Capital |
757.960 |
769.581 |
769.581 |
|
Reserves & Surplus |
3695.243 |
4402.437 |
4525.047 |
|
Net
worth |
4453.203 |
5172.018 |
5294.628 |
|
|
|
|
|
|
long-term borrowings |
6.558 |
8.927 |
10.825 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
6.558 |
8.927 |
10.825 |
|
Debt/Equity
ratio |
0.001 |
0.002 |
0.002 |
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 |
5948.909 |
7062.576 |
7908.938 |
|
|
|
18.721 |
11.984 |
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 |
5948.909 |
7062.576 |
7908.938 |
|
Profit |
335.500 |
450.390 |
122.609 |
|
|
5.64% |
6.38% |
1.55% |
LEGAL
CASES
|
LITIGATION DETAILS |
|||||
|
Bench:- Bombay |
|||||
|
Presentation
Date:- 14/03/2017 |
|||||
|
Stamp No. : |
CAWST/7381/2017 |
Filing Date:- |
14/03/2017 |
Reg.
No.:- |
|
|
Reg.
Date:- |
|
|
|
|
|
|
MAIN MATTER |
|||||
|
Stamp No.:- |
WPST/21595/2008 |
Reg. No.:- |
WP/186/2009 |
||
|
|
|
|
|
||
|
Petitioner:- |
THE UNION OF INDIA THROUGH THE SECRETARY AND ANR. |
Respondent:- |
KELLOGG INDIA PRIVATE LIMITED |
||
|
Petn.Adv:- |
UBR LEGAL (I17695) |
|
|
||
|
District:- |
THANE |
||||
|
Bench:- |
DIVISION |
Category:- |
FOR DIRECTION |
||
|
Status:- |
Pre-Admission |
Stage:- |
FOR FINAL HEARING |
||
|
Last
Date:- |
04/01/2018 |
Stage:- |
-- |
||
|
Last
Coram:- |
HON'BLE SHRI JUSTICE S.C. DHARMADHIKARI HON'BLE SMT. JUSTICE B. H. DANGRE |
||||
|
Act. : |
Central Excise
& Salt Act |
||||
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 |
No |
|
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 |
Yes |
|
33] |
Market information |
-- |
|
34] |
Payments terms |
No |
|
35] |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX
OF CHARGES: NO CHARGES EXISTS FOR COMPANY
FIXED ASSETS
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipments
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 64.87 |
|
|
1 |
INR 90.49 |
|
Euro |
1 |
INR 79.91 |
INFORMATION DETAILS
|
Information
Gathered by : |
SAV |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
JYTK |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
YES |
|
--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.