|
|
|
MIRA INFORM REPORT
|
Report No. : |
498788 |
|
Report Date : |
20.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
BARON LEATHER PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
7-H, Laxmi Industrial Estate, New Link Road, Andheri (West), Mumbai –
400 053, Maharashtra |
|
Tel. No.: |
91-22-26399182 |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2016 |
|
|
|
|
Date of
Incorporation : |
02.01.2009 |
|
|
|
|
Com. Reg. No.: |
11-189323 |
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|
|
|
Capital
Investment / Paid-up Capital : |
INR 9.300 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U19116MH2009PTC189323 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
0309003121 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
AADCB6760E |
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|
|
GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
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|
|
Legal Form : |
Private Limited Liability Company |
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|
|
Line of Business
: |
Wholesale Trade in Leather. (Registered Activity) Manufacturer and supplier of leather products. (From
Indirect Source) |
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|
|
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 |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Satisfactory |
|
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|
|
Payment Behaviour : |
Slow but correct |
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|
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Litigation : |
Clear |
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|
Comments : |
Subject was incorporated in the year 2009. It is a manufacturer and supplier of leather products. Management has not filed its financial record with government department for the year 2017 and same are not available from any other sources. As per the financial records of 2016, the company has achieved an average net profit margin of 3.53% but has reported a decline in its revenue as compared to the previous year’s revenue. The overall financial position of the company seems to be satisfactory marked by adequate networth base along with moderate debt balance sheet profile. 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 20.03.2018
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 BY
|
Name : |
Mr. Manohar |
|
Designation : |
Office Executive |
|
Contact No.: |
91-22-61785151 |
|
Date : |
17.03.2018 |
(Tel. No.: 91-22-26399182/ 83184185 – Continuously Ringing)
LOCATIONS
|
Registered Office/ Head Quarter : |
7-H, Laxmi Industrial Estate, New Link Road, Andheri (West), Mumbai –
400 053, Maharashtra, India |
|
Tel. No.: |
91-22-26399182/ 83/ 84/ 85/ 61785151 |
|
Fax No.: |
91-22-26399181 |
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E-Mail : |
|
|
Website : |
|
|
|
|
|
Warehouse : |
Mira Industrial Estate, Mira Road, Thane, Maharashtra, India |
|
|
|
|
Branch Office 1 : |
6-H/1, 3rd Floor, Shahpur Jat, New Delhi – 110 049, India |
|
Tel. No.: |
91-11-26490812/ 13 |
|
E-Mail : |
|
|
|
|
|
Branch Office 2 : |
# 8, Wood Street, Bangalore – 560 025, Karnataka, India |
|
Tel. No.: |
91-80-41533311 |
|
E-Mail : |
|
|
|
|
|
Branch Office 3 : |
2, Upaven Twins Bunglow, Near Shyamal Cross Road, Ahmedabad – 380 015, Gujarat, India |
|
Tel. No.: |
91 79-26769031 |
|
E-Mail : |
|
|
|
|
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Global Headquarter : |
Located at: · USA |
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|
|
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Overseas Office : |
Located at: · Dubai · UK |
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Representative Office : |
Located at: · Singapore · Malaysia · Indonesia · Thailand · China · Hong Kong · Philippines · Qatar |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Bijal Suryakant Maniar |
|
Designation : |
Managing Director |
|
Address : |
10/10, Ravi Kiran, Juhu Scheme, |
|
Date of Birth/Age : |
08.05.1970 |
|
Date of Appointment : |
02.01.2009 |
|
DIN No. : |
02320698 |
|
|
|
|
Name : |
Mrs. Priti Bijal Maniar |
|
Designation : |
Director |
|
Address : |
10/10, Ravi Kiran, Juhu Scheme, |
|
Date of Birth/Age : |
06.06.1968 |
|
Date of Appointment : |
02.01.2009 |
|
DIN No. : |
02346565 |
KEY EXECUTIVES
|
Name : |
Mr. Manohar |
|
Designation : |
Office Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2016
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Bijal Suryakant Maniar |
706800 |
76.00 |
|
Priti Bijal Maniar |
223200 |
24.00 |
|
Total |
930000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2016
|
Category |
Percentage |
|
Promoters (Individual/Hindu Undivided Family-Indian) |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Wholesale Trade in Leather. (Registered Activity) Manufacturer and supplier of leather products. (From
Indirect Source) |
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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 NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
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Facilities : |
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Auditors : |
|
|
Name : |
Patel and Kurup Chartered Accountants |
|
Address : |
6, Crescent Chambers, 1st Floor, Tamarind Lane, Fort,
Mumbai – 400 023, Maharashtra, India |
|
Tel. No.: |
91-22-22670815 |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFP2413L |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
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|
|
|
Subsidiary : (As on 31.03.2016) |
(CIN No.: U74120MH2012PTC235888)
|
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Associates and Joint Ventures : (As on 31.03.2016) |
|
|
|
|
|
Enterprises/ Firm over which controlling individual has significant
influence : (As on 31.03.2016) |
|
CAPITAL STRUCTURE
As on 30.09.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
INR 10/- each |
INR 10.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
930000 |
Equity Shares |
INR 10/- each |
INR 9.300
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 |
9.300 |
9.300 |
9.300 |
|
(b) Reserves & Surplus |
44.284 |
40.962 |
35.738 |
|
(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) |
53.584 |
50.262 |
45.038 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
32.881 |
23.094 |
4.537 |
|
(b) Deferred tax liabilities (Net) |
(0.114) |
(0.079) |
(0.009) |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) Long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
32.767 |
23.015 |
4.528 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
52.457 |
49.043 |
47.942 |
|
(b) Trade
payables |
9.885 |
3.033 |
3.004 |
|
(c) Other
current liabilities |
17.614 |
11.400 |
4.677 |
|
(d) Short-term
provisions |
3.983 |
2.454 |
1.658 |
|
Total Current
Liabilities (4) |
83.939 |
65.930 |
57.281 |
|
|
|
|
|
|
TOTAL |
170.290 |
139.207 |
106.847 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
4.613 |
5.190 |
6.040 |
|
(ii)
Intangible Assets |
0.487 |
0.741 |
0.995 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
16.476 |
0.075 |
0.075 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term Loan and Advances |
26.923 |
21.672 |
2.403 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
48.499 |
27.678 |
9.513 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
3.213 |
3.213 |
0.236 |
|
(b)
Inventories |
80.321 |
82.309 |
82.636 |
|
(c) Trade
receivables |
21.653 |
16.088 |
9.433 |
|
(d) Cash
and cash equivalents |
4.928 |
3.807 |
2.996 |
|
(e)
Short-term loans and advances |
11.676 |
6.112 |
2.033 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
121.791 |
111.529 |
97.334 |
|
|
|
|
|
|
TOTAL |
170.290 |
139.207 |
106.847 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Income |
108.100 |
140.719 |
144.767 |
|
|
Other Income |
0.845 |
0.550 |
0.090 |
|
|
TOTAL |
108.945 |
141.269 |
144.857 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
0.000 |
0.000 |
0.000 |
|
|
Purchases of Stock-in-Trade |
53.004 |
86.164 |
83.514 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
1.988 |
0.327 |
3.627 |
|
|
Employees benefits
expense |
23.834 |
16.066 |
15.550 |
|
|
Other expenses |
8.853 |
19.226 |
19.094 |
|
|
TOTAL |
87.679 |
121.783 |
121.785 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
21.266 |
19.486 |
23.072 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
14.353 |
9.097 |
8.285 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
6.913 |
10.389 |
14.787 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1.101 |
1.405 |
1.439 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
5.812 |
8.984 |
13.348 |
|
|
|
|
|
|
|
Less |
TAX |
1.995 |
3.279 |
4.589 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
3.817 |
5.705 |
8.759 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
31.145 |
37.288 |
28.734 |
|
|
TOTAL EARNINGS |
31.145 |
37.288 |
28.734 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
4.10 |
6.13 |
9.42 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
0.000 |
0.037 |
0.412 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flow from operating activity |
NA |
NA |
NA |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
73.11 |
41.73 |
23.78 |
|
|
|
|
|
|
Account Receivables Turnover ( Income / Sundry Debtors) |
4.99 |
8.75 |
15.35 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
68.07 |
12.85 |
13.13 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.26 |
0.24 |
0.28 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.99 |
3.24 |
3.25 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.69 |
0.64 |
0.58 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
1.59 |
1.44 |
1.17 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.57 |
1.31 |
1.27 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.40 |
0.12 |
0.16 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
1.48 |
2.14 |
2.78 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin [(PAT / Sales)
* 100] |
% |
3.53 |
4.05 |
6.05 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
2.24 |
4.10 |
8.20 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
7.12 |
11.35 |
19.45 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.45 |
1.69 |
1.70 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.49 |
0.44 |
0.26 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.31 |
0.36 |
0.42 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
9.18 |
7.76 |
5.69 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.45 |
1.69 |
1.70 |
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 |
9.300 |
9.300 |
9.300 |
|
Reserves & Surplus |
35.738 |
40.962 |
44.284 |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
45.038 |
50.262 |
53.584 |
|
|
|
|
|
|
long-term borrowings |
4.537 |
23.094 |
32.881 |
|
Short term borrowings |
47.942 |
49.043 |
52.457 |
|
Current Maturities of
Long term debt |
0.412 |
0.037 |
0.000 |
|
Total borrowings |
52.891 |
72.174 |
85.338 |
|
Debt/Equity ratio |
1.174 |
1.436 |
1.593 |
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 |
144.767 |
140.719 |
108.100 |
|
|
|
(2.796) |
(23.180) |
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 |
144.767 |
140.719 |
108.100 |
|
Profit/(Loss) |
8.759 |
5.705 |
3.817 |
|
|
6.05% |
4.05% |
3.53% |
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 |
OPERATIONS AND FUTURE
PROSPECTS (As on 31.03.2016)
The company is consolidating its existing operations and no additional
projects are contemplated at present.
UNSECURED LOAN
|
PARTICULARS |
31.03.2016 (INR
in Million) |
31.03.2015 (INR
in Million) |
|
Long-term Borrowings |
|
|
|
VBA- Security Deposits |
0.327 |
0.327 |
|
|
|
|
|
Total |
0.327 |
0.327 |
INDEX
OF CHARGES
|
Charges Registered |
||||||||
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
B42990069 |
10159511 |
The Saraswat Co-Operative Bank Limited |
11/05/2009 |
28/06/2012 |
- |
50000000.0 |
SME Vile Parle Branch, Bholanath Co-operative Housingg Society Subhash Road, Vile Parle East MumbaiMH400057IN |
|
2 |
G33481672 |
10535517 |
The Saraswat Co-Operative Bank Limited |
26/11/2014 |
- |
18/01/2017 |
5000000.0 |
SME Vile Parle Branch, Bholanath Co-operative Housingg Society Subhash Road, Vile Parle East MumbaiMH400057IN |
|
3 |
B78187812 |
10256806 |
The Saraswat Co-Operative Bank Limited |
25/11/2010 |
- |
26/06/2013 |
10000000.0 |
SME Vile Parle Branch, Bholanath Co-operative Housingg Society Subhash Road, Vile Parle East MumbaiMH400057IN |
|
4 |
B78188927 |
10292879 |
The Saraswat Co-Operative Bank Limited |
13/06/2011 |
- |
26/06/2013 |
5000000.0 |
SME Vile Parle Branch, Bholanath Co-operative Housingg Society Subhash Road, Vile Parle East MumbaiMH400057IN |
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
|
Guarantees given by the bankers on behalf of the company |
0.090 |
0.090 |
FIXED ASSETS
Tangible Assets
· Air Conditioner
· Computer
· Cycle
· Digital Camera
· Electrical Fittings
· EPBAX System
· Furniture and Fixtures
· Mobile Phone
· Motor Car
· Printer
· Refrigerator
· Water Filter
· Web Site
· Machinery
· Office Equipment
Intangible Assets
· Software and Software License
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 65.03 |
|
|
1 |
INR 90.55 |
|
Euro |
1 |
INR 79.77 |
INFORMATION DETAILS
|
Information
Gathered by : |
AKS |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared
by : |
SUD |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
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.