|
|
|
MIRA INFORM REPORT
|
Report No. : |
498222 |
|
Report Date : |
20.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
UNIBIC FOODS INDIA PRIVATE LIMITED (w.e.f. 30.01.2014) |
|
|
|
|
Formerly Known
As : |
UNIBIC BISCUITS INDIA PRIVATE LIMITED |
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|
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|
Registered
Office : |
Shreeram Nivas No. 1134, 5th Floor, 100 Feet Road, Hal 2nd Stage, Indiranagar,
Bangalore – 560038, Karnataka |
|
Tel. No.: |
91-80-25201359 |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
08.07.2004 |
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|
|
|
Com. Reg. No.: |
08-34294 |
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|
|
|
Capital Investment
/ Paid-up Capital : |
INR 821.267 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U01541KA2004PTC034294 |
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|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
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TIN No.: |
29650214073 |
|
|
|
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PAN No.: [Permanent Account No.] |
AAACU6928L |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Divulged |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
29AAACU6928L1ZQ |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacture and sale of cookies and biscuits (Registered Activity) |
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|
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Maximum Credit Limit : |
USD 1160000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
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|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is a wholly owned subsidiary of “Peepul Captial Fund 3 LLC, Mauritius” incorporated in the year 2004 having a satisfactory track record. The subject is engaged in the business of manufacturing, processing, importing, exporting, distributing and dealing in biscuits and related bakery products, confectioneries like fruit bars, flavouring compounds, etc. For the financial year 2017, the company has achieved decent growth in its revenue as compared to as compared to its previous year but has incurred losses during the year. Rating takes into consideration, the healthy financial risk profile marked by adequate net worth base and strong debt protection metrics. Rating continue to derive strength from its established track record of its business operation marked by its brand image of “UNIBIC” along with its strong financial and managerial support from its holding entity. However, these ratings gets partially offset by its negative reserve level and losses from its operations along with its presence in highly competitive and fragmented consumer retail industry. Payments seems to be usually correct. In view of aforesaid, the company can be considered for business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
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. Hardik |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-9900477933 |
|
Date : |
17.03.2018 |
LOCATIONS
|
Registered Office : |
Shreeram Nivas No. 1134, 5th Floor, 100 Feet Road, Hal 2nd Stage, Indiranagar,
Bangalore – 560038, Karnataka, India |
|
Tel. No.: |
91-80-25201359 |
|
Mobile No.: |
91-9900477933 (Mr. Hardik) |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Nikhil Sen |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Managing Director |
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|
Address : |
No.33, Defence Colony, 2nd Main Road, Indiranagar, Bangalore 560038,
Karnataka, India |
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Date of Birth/Age : |
15.06.1958 |
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Date of Appointment : |
17.09.2007 |
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PAN No.: |
ASYPS9702R |
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DIN No.: |
00842114 |
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Other
Directorship:
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|
||||||||||||||||||||||||||||||||||||
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Name : |
Mr. Nadigadda Sandeep Reddy |
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Designation : |
Nominee Director |
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Address : |
Flat I5 102 Rochester Row London Swipijp GB |
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Date of Appointment : |
26.05.2017 |
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DIN No.: |
00483826 |
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Other
Directorship:
|
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|
||||||||||||||||||||||||||||||||||||
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Name : |
Mr. Sreenivasulu Vudayagiri |
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Designation : |
Nominee Director |
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Address : |
14/1, Kanakapura Road Behind Hotel Krishna Darshini, Basavanag Udi, Bangalore
560004, Karnataka, India |
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Date of Birth/Age : |
07.05.1967 |
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Date of Appointment : |
08.02.2013 |
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PAN No.: |
AIHPS5008D |
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DIN No.: |
01817281 |
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Other
Directorship:
|
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KEY EXECUTIVES
|
Name : |
Mr. Hardik |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Peepul Capital Fund III LLC, Mauritius |
|
80345874 |
|
Total |
|
80345874 |
|
Names of Shareholders
(Management Ordinary Shares) |
|
No.
of Shares |
|
Nikhil Sen |
|
1780800 |
|
Total |
|
1780800 |
* Shares held in demat mode
Equity Share Break up (Percentage of Total Equity)
As on 24.08.2017
|
Category |
Percentage |
|
Promoters (Individual/Hindu Undivided Family – Indian) |
2.17 |
|
Promoters (Body corporate) |
97.83 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacture and sale of cookies
and biscuits (Registered Activity) |
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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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||||
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Imports : |
Not Divulged |
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||||
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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 : |
Not Divulged |
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Bankers : |
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Facilities : |
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Auditors : |
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|
Name : |
Walker Chandiok and Co LLP Chartered Accountants |
|
Address : |
5th Floor, No. 65/2, Block "A", Bagmane Tridib, Bagmane Tech Park, C V Raman Nagar, Bangalore – 560093, Karnataka, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFW4298E |
|
|
|
|
Memberships : |
Not Available |
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|
|
|
Collaborators : |
Not Available |
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|
|
|
Holding company : |
Peepul Capital Fund III LLC, Mauritius |
CAPITAL STRUCTURE
As on 24.08.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
80719200 |
Equity Shares 1 |
INR 10/- each |
INR 807.192 Million |
|
1780800 |
Equity Shares 2 (Management Ordinary shares) |
INR 10/- each |
INR 17.808 Million |
|
|
Total |
|
INR 825.000 Million
|
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
80350704 |
Equity Shares 1 |
INR 10/- each |
INR 803.507 Million |
|
1780800 |
Equity Shares 2 (Management Ordinary shares) |
INR 10/- each |
INR 17.808 Million |
|
|
Total |
|
INR 821.315 Million
|
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
80345874 |
Equity Shares 1 |
INR 10/- each |
INR 803.459 Million |
|
1780800 |
Equity Shares 2 (Management Ordinary shares) |
INR 10/- each |
INR 17.808 Million |
|
|
Total |
|
INR 821.267 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 |
821.267 |
821.267 |
821.267 |
|
(b) Reserves and Surplus |
(416.249) |
(340.931) |
(366.265) |
|
(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) |
405.018 |
480.336 |
455.002 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
80.539 |
5.115 |
3.188 |
|
(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 |
6.092 |
4.348 |
4.144 |
|
Total Non-current
Liabilities (3) |
86.631 |
9.463 |
7.332 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short-term borrowings |
169.063 |
37.945 |
4.595 |
|
(b) Trade payables |
194.226 |
138.996 |
95.003 |
|
(c) Other current liabilities |
179.085 |
119.972 |
109.478 |
|
(d) Short-term provisions |
6.360 |
4.787 |
2.780 |
|
Total Current
Liabilities (4) |
548.734 |
301.700 |
211.856 |
|
|
|
|
|
|
TOTAL |
1040.383 |
791.499 |
674.190 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
245.979 |
149.342 |
158.474 |
|
(ii) Intangible Assets |
8.104 |
1.713 |
2.865 |
|
(iii) Tangible assets capital work-in-progress |
17.637 |
0.000 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.016 |
0.016 |
0.016 |
|
(c) Deferred tax assets (net) |
166.225 |
136.472 |
138.803 |
|
(d) Long-term loans and advances |
96.701 |
54.181 |
19.014 |
|
(e) Other Non-current assets |
0.021 |
1.010 |
2.533 |
|
Total Non-Current
Assets |
534.683 |
342.734 |
321.705 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
197.836 |
140.066 |
92.603 |
|
(c) Trade receivables |
249.245 |
191.092 |
110.633 |
|
(d) Cash and bank balances |
32.566 |
98.676 |
131.470 |
|
(e) Short-term loans and advances |
21.210 |
8.653 |
10.601 |
|
(f) Other current assets |
4.843 |
10.278 |
7.178 |
|
Total
Current Assets |
505.700 |
448.765 |
352.485 |
|
|
|
|
|
|
TOTAL |
1040.383 |
791.499 |
674.190 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Revenue
from operations |
2490.451 |
2045.618 |
1318.378 |
|
|
Other Income |
7.761 |
12.806 |
10.725 |
|
|
TOTAL |
2498.212 |
2058.424 |
1329.103 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
1425.575 |
1097.267 |
746.599 |
|
|
Purchases of
Stock-in-Trade |
112.718 |
99.196 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(15.331) |
(36.419) |
4.220 |
|
|
Employee benefit expense |
198.357 |
168.955 |
110.344 |
|
|
Other expenses |
823.730 |
665.684 |
508.091 |
|
|
TOTAL |
2545.049 |
1994.683 |
1369.254 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION |
(46.837) |
63.741 |
(40.151) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
12.141 |
1.181 |
5.593 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(58.978) |
62.560 |
(45.744) |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
46.092 |
34.895 |
(16.291) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(105.070) |
27.665 |
(29.453) |
|
|
|
|
|
|
|
Less |
TAX |
(29.752) |
2.331 |
(39.330) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(75.318) |
25.334 |
9.877 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
56.625 |
50.259 |
53.969 |
|
|
TOTAL EARNINGS |
56.625 |
50.259 |
53.969 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
0.406 |
0.285 |
0.174 |
|
|
Components and spare
parts |
1.994 |
2.813 |
1.362 |
|
|
Capital Goods |
52.835 |
11.304 |
13.627 |
|
|
TOTAL IMPORTS |
55.235 |
14.402 |
15.163 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
(0.917) |
0.308 |
0.120 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
9.520 |
1.373 |
0.765 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
(96.423) |
(23.724) |
(49.098) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
36.53 |
34.10 |
30.63 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
9.99 |
10.70 |
11.92 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
46.09 |
42.40 |
46.45 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
(0.24) |
0.46 |
(0.43) |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
(0.17) |
0.42 |
(0.25) |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.61 |
0.39 |
0.32 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.64 |
0.09 |
0.02 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
1.35 |
0.63 |
0.47 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.67 |
0.31 |
0.35 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
(3.86) |
53.97 |
(7.18) |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
(3.02) |
1.24 |
0.75 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
(7.24) |
3.20 |
1.47 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
(18.60) |
5.27 |
2.17 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
0.92 |
1.49 |
1.66 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.56 |
1.02 |
1.23 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.39 |
0.61 |
0.67 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
0.32 |
0.05 |
0.01 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
0.92 |
1.49 |
1.66 |
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 |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
821.267 |
821.267 |
821.267 |
|
Reserves & Surplus |
(366.265) |
(340.931) |
(416.249) |
|
Net
worth |
455.002 |
480.336 |
405.018 |
|
|
|
|
|
|
long-term borrowings |
3.188 |
5.115 |
80.539 |
|
Short term borrowings |
4.595 |
37.945 |
169.063 |
|
Current maturities of
long-term debts |
0.765 |
1.373 |
9.520 |
|
Total
borrowings |
8.548 |
44.433 |
259.122 |
|
Debt/Equity
ratio |
0.019 |
0.093 |
0.640 |
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 |
1318.378 |
2045.618 |
2490.451 |
|
|
|
55.162 |
21.746 |
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 |
1318.378 |
2045.618 |
2490.451 |
|
Profit/ (Loss) |
9.877 |
25.334 |
(75.318) |
|
0.75
% |
1.24
% |
(3.02
%) |
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 |
Yes |
|
8] |
Designation of contact person |
Yes |
|
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 |
|
|
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 |
BACKGROUND
The Company was incorporated in Bengaluru, India on 8 July 2004 to carry on the business of manufacture and sale of cookies.
STATE OF THE
COMPANY’S AFFAIRS AND FUTURE OUTLOOK:
The Company grew at a healthy rate in the last 4 years. However, the growth in the last financial year was not in line with earlier years. The market growth slowed down from 13% to 6% and the Company’s growth also slowed down from 50% to 21%. The other major factor impacting the growth was demonetization of high value currency note by Government of India effective 8th November 2016. This has impacted the business across FMCG industry.
The Company achieved cash profit of INR 62.500 million during 2016-2017 but the profit and profitability of the business was severally impacted during the financial year due to un-precedented increase in material prices which could not be fully recovered through price increase due to competitive pressures.
The Company did a major expansion by putting 4th line which commissioned in August 2016. This increased the capacity by almost 60%. With this, two units which were commissioned earlier as contract manufacturing units were discontinued. To meet the growing demand, another expansion plan has been initiated and the 5th line is planned to be commissioned in June 2017.
INDEX
OF CHARGES
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Amount |
Address |
|
1 |
G01203462 |
100018585 |
State Bank of India |
24/03/2016 |
- |
3300000.0 |
SME BRANCH RAJAJINAGAR INDUSTRIAL ESTATE BANGALORE KARNATAKA 560010 INDIA |
|
2 |
G74308206 |
80049342 |
State Bank of India |
26/02/2005 |
26/12/2017 |
504500000.0 |
SME BRANCH RAJAJINAGAR INDUSTRIAL ESTATE BANGALORE KARNATAKA 560010 INDIA |
CONTINGENT LIABILITIES:
|
PARTICULARS |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Export obligation * |
99.823 |
72.097 |
|
Receivable C Form |
65.255 |
47.629 |
|
Demand from Commercial Tax department |
0.000 |
1.882 |
|
* Amount represents export obligation over and above the average level of exports achieved in the preceding three licensing years amounting to INR 50.233 Million (31 March 2016: Rs.50.233 Million). |
||
FIXED ASSETS
- Land
- Building
- Furniture and
Fixture
- Computer
- Plant and
Machinery
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 65.20 |
|
UK Pound |
1 |
INR 91.49 |
|
Euro |
1 |
INR 80.46 |
INFORMATION DETAILS
|
Information Gathered
by : |
SHA |
|
|
|
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
JYTK |
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.
·