|
|
|
MIRA INFORM REPORT
|
Report No. : |
499117 |
|
Report Date : |
22.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
EMC SOFTWARE AND
SERVICES INDIA PRIVATE LIMITED (w.e.f 04.12.2009) |
|
|
|
|
Formerly Known
As : |
TECHNOLOGY COMPUTER SOLUTIONS OF INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
112, 113, Akruti Sankul, Opposite Janata Sahakari Bank, Sadashiv Peth,
Tilak Road, Pune – 411030, Maharashtra |
|
Tel. No.: |
91-80-67375000 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2016 |
|
|
|
|
Date of
Incorporation : |
11.06.1999 |
|
|
|
|
Com. Reg. No.: |
11-013724 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 11.720 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72900PN1999PTC013724 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCT0199B |
|
|
|
|
GSTN : [Goods & Service Tax Registration
No.] |
Not Divulged |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is primarily engaged in providing Software
Development Services and Information Technology enabled Services (ITES)
exclusively to group entities. (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 |
|
Status : |
Excellent |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
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|
Comments : |
Subject is a wholly subsidiary of EMC Corporation, USA. It was
incorporated in the year 1999 and is engaged in providing software
development and IT enable services. It is an old and established company
having excellent track record. As per Registrar of Companies the date of balance sheet (i.e.
financial filed) is shown as 31.03.2017 but the documents related to the
financial for the year 2017 are not available from any sources. As per available financials of 2016, the company has increased its
revenue from operation as compared to previous year and maintained decent
profitability margin of 10.09%. Rating takes into consideration strong financial profile of the
company marked by healthy networth base and debt free balance sheet. Further, the company also derives strength from its strong holding
company support, well established track record of business operations and
marked position. Trade relations are fair. Business is active. Payments terms are seems
to be regular. In view of aforesaid, the company can be considered good for normal
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 |
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 22.03.2018
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DENIED
MANAGEMENT NON-COOPERATIVE (Tel. No.: 91-80-67375000)
LOCATIONS
|
Registered Office : |
112, 113, Akruti Sankul, Opposite Janata Sahakari Bank, Sadashiv Peth,
Tilak Road, Pune – 411030, Maharashtra, India |
|
Tel. No.: |
91-80-67375000/ 43266107/
25453788 |
|
Fax No.: |
91-80-67376000 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 31.03.2017
|
Name : |
Srikripa Srinivasan |
|
Designation : |
Whole-time Director |
|
Address : |
6Q, East Wing Fernhill Apartment, HSR Layout, Sarjapur Road, Bangalore - 560068, Karnataka, India |
|
Date of Birth/Age : |
28.11.2014 |
|
Date of Appointment : |
28.11.2014 |
|
DIN No.: |
07031316 |
|
|
|
|
Name : |
Saravanan Arumugam |
|
Designation : |
Whole-time Director |
|
Address : |
S114, Chaithanya Smaran Whitefield Hoskote Road, Kannamangala, Bangalore – 560067, Karnataka, India |
|
Date of Appointment : |
28.03.2017 |
|
DIN No.: |
07773627 |
|
|
|
|
Name : |
Janet Merritt Bawcom |
|
Designation : |
Director |
|
Address : |
1314, Shannon Oaks Trail Austin Texas 78746 US |
|
Date of Appointment : |
05.12.2016 |
|
DIN No.: |
02159007 |
|
|
|
|
Name : |
Robert Linn Potts |
|
Designation : |
Director |
|
Address : |
9025, Evening Primrose Path Austin TX 78750 US |
|
Date of Appointment : |
12.06.2017 |
|
DIN No.: |
06833034 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
EMC Corporation, USA |
|
1106776 |
|
EMC Ireland Holdings, Ireland |
|
64913 |
|
EMC International Company, Ireland |
|
456 |
|
EMC Investment Corporation |
|
11 |
|
RSA Security LLC, USA |
|
1 |
|
Total |
|
1172157 |
Equity Share Break up (Percentage of Total Equity)
As on 28.09.2017
|
Category |
Percentage |
|
Promoters (Body corporate) |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is primarily engaged in providing Software
Development Services and Information Technology enabled Services (ITES)
exclusively to group entities. (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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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 : |
Information declined by the management |
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Bankers : |
|
||||||||||||||||||||||
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Auditors : |
|
|
Name : |
Price Werehouse and Company LLP Chartered Accountants |
|
Address : |
5th and 6th Floor, Tower D, The Millenia, No. 1 and
2, Murphy Road, Ulsoor, Bangalore – 560008, Karnataka, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAHFP0187A |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding Company : |
EMC Corporation, USA |
|
|
|
|
Fellow Subsidiaries
: (As on 31.03.2016) |
|
CAPITAL STRUCTURE
As on 28.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2300000 |
Equity Shares |
INR 10/- each |
INR 23.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1172157 |
Equity Shares |
INR 10/- each |
INR 11.720
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 |
11.720 |
11.720 |
11.720 |
|
(b) Reserves &
Surplus |
7934.710 |
6397.200 |
5098.540 |
|
(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) |
7946.430 |
6408.920 |
5110.260 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
235.570 |
239.610 |
237.870 |
|
(d) long-term provisions |
493.970 |
289.300 |
120.030 |
|
Total Non-current
Liabilities (3) |
729.540 |
528.910 |
357.900 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
659.520 |
466.030 |
439.970 |
|
(c) Other current
liabilities |
654.210 |
690.100 |
566.060 |
|
(d) Short-term provisions |
109.750 |
133.050 |
143.960 |
|
Total Current Liabilities
(4) |
1423.480 |
1289.180 |
1149.990 |
|
|
|
|
|
|
TOTAL |
10099.450 |
8227.010 |
6618.150 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
2751.800 |
2511.060 |
2552.030 |
|
(ii) Intangible Assets |
1.490 |
2.480 |
6.950 |
|
(iii) Capital
work-in-progress |
236.620 |
99.270 |
3.630 |
|
(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) |
118.710 |
123.260 |
118.040 |
|
(d) Long-term Loan and Advances |
1617.870 |
1325.370 |
1155.650 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
55.110 |
|
Total Non-Current Assets |
4726.490 |
4061.440 |
3891.410 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
3595.440 |
2919.810 |
2005.910 |
|
(d) Cash and cash
equivalents |
1051.890 |
499.690 |
219.800 |
|
(e) Short-term loans and
advances |
636.570 |
512.460 |
493.740 |
|
(f) Other current assets |
89.060 |
233.610 |
7.290 |
|
Total Current Assets |
5372.960 |
4165.570 |
2726.740 |
|
|
|
|
|
|
TOTAL |
10099.450 |
8227.010 |
6618.150 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Income |
15237.950 |
12547.540 |
10637.040 |
|
|
Other Income |
188.630 |
107.460 |
69.040 |
|
|
TOTAL |
15426.580 |
12655.000 |
10706.080 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Employees benefits
expense |
8393.690 |
7196.620 |
6159.420 |
|
|
Other expenses |
4156.490 |
2973.290 |
2371.420 |
|
|
CSR Expenditure |
10.020 |
0.000 |
0.000 |
|
|
TOTAL |
12560.200 |
10169.910 |
8530.840 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
2866.380 |
2485.090 |
2175.240 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX,
DEPRECIATION AND AMORTISATION |
2866.380 |
2485.090 |
2175.240 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
939.290 |
847.650 |
797.030 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
1927.090 |
1637.440 |
1378.210 |
|
|
|
|
|
|
|
Less |
TAX |
389.580 |
338.780 |
241.990 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX |
1537.510 |
1298.660 |
1136.220 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
15237.950 |
12547.540 |
10637.040 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Capital Goods |
929.720 |
880.270 |
509.070 |
|
|
TOTAL IMPORTS |
929.720 |
880.270 |
509.070 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
1311.69 |
1107.92 |
979.76 |
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) operations |
2271.370 |
1572.220 |
962.460 |
|
Net cash flow from operating activity |
1868.870 |
1217.300 |
622.560 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
86.12 |
84.94 |
68.83 |
|
|
|
|
|
|
Account Receivables Turnover ( Income / Sundry Debtors) |
4.24 |
4.30 |
5.30 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.96 |
0.95 |
0.85 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.14 |
0.16 |
0.17 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.18 |
0.20 |
0.23 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.38 |
0.41 |
0.50 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
0.00 |
0.00 |
0.00 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin [(PAT / Sales)
* 100] |
% |
10.09 |
10.35 |
10.68 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
15.22 |
15.79 |
17.17 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
19.35 |
20.26 |
22.23 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current
Assets / Current Liabilities) |
3.77 |
3.23 |
2.37 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
3.77 |
3.23 |
2.37 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.79 |
0.78 |
0.77 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
3.77 |
3.23 |
2.37 |
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 |
11.720 |
11.720 |
11.720 |
|
Reserves & Surplus |
5098.540 |
6397.200 |
7934.710 |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
5110.260 |
6408.920 |
7946.430 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity ratio |
0.000 |
0.000 |
0.000 |
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 |
10637.040 |
12547.540 |
15237.950 |
|
|
|
17.961 |
21.442 |
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 |
10637.040 |
12547.540 |
15237.950 |
|
Profit |
1136.220 |
1298.660 |
1537.510 |
|
|
10.68% |
10.35% |
10.09% |
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 |
No |
|
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 |
NOTE: The registered office of the company has been shifted from 850/8, Flat No.6, Archana Aboli Apartment, Off Kale Pathh, Near Bhandarkar Road and Agarkar Road, Shivajinagar, Pune – 411004, Maharashtra, India to the present address w.e.f. 04.10.2013
BRIEF DESCRIPTION OF
THE COMPANY’S WORKING DURING THE YEAR (As on 31.03.2016)
Company Performance
During the year the Company has accounted for a Net Profit of INR 1537.510 million against INR 1298.660 million during the year 2014-15. The Company’s gross revenue has increased from INR 12655.000 million in FY 2014-15 to INR 15426.580 million in FY 2015-16.
Operation Review
EMC’s mission is to lead businesses and service providers to
transform information technology (“IT”) operations. This transformation enables
IT organizations to evolve from cost centers to value drivers that are more
agile, more cost-effective and more responsive to business needs.
EMC supports a broad range of customers, including businesses, governments, not-for-profit organizations and service providers, around the world and in every major industry, in both public and private sectors, and of sizes ranging from the Fortune 500 to small business and individual consumers.
EMC Software and Services India Private Limited provides IT services (including computer software development) and IT enabled services to its fellow subsidiaries.
The Company is hopeful of achieving higher turnover and profits during the coming years with the growth in economy.
INDEX
OF CHARGES
No Charges Exists for Company
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
|
Income Tax matters [includes INR 168.170 Million (March 31, 2014: INR 150.170 Million) paid under protest] |
NA |
696.720 |
FIXED ASSETS
- Furniture and fixtures
- Vehicles
- Motor 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 65.21 |
|
|
1 |
INR 91.32 |
|
Euro |
1 |
INR 79.96 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYA |
|
|
|
|
Analysis Done by
: |
PSD |
|
|
|
|
Report Prepared
by : |
SUD |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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.