|
|
|
MIRA INFORM REPORT
|
Report No. : |
499599 |
|
Report Date : |
22.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
RAINBOW PIGMENTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
C-126, Durian Estate Premises Co-Operative Housing Society
Limited, Goregaon - Mulund Link Road, Goregaon (East), Mumbai – 400063,
Maharashtra |
|
Tel. No.: |
91-22-42225858 |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
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|
|
|
Date of
Incorporation : |
12.03.2014 |
|
|
|
|
Com. Reg. No.: |
11- 254160 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 20.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25190MH2014PTC254160 |
|
|
|
|
IEC No.: [Import-Export
Code No.] |
Not Divulged |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
AAGCR9190M |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacture of Paint, Varnishes and Similar
Product. [Registered Activity] |
|
|
|
|
No. of Employees
: |
Information denied by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Maximum Credit Limit : |
USD 140000 |
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|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
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|
|
|
Litigation : |
Clear |
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|
|
Comments : |
Subject was incorporated in the year 2014 and it is a manufacturer of
paints, varnishes and similar products. As per financials of March 2017, the company has registered healthy
growth in its revenue and has reported low profit margin of 0.01%. Rating takes into consideration the company’s sound net worth base
along with improving debt coverage indicators and decent liquidity position. Rating is constrained on account the company’s limited track record of
business operations and excess of borrowings. Payments seems to be slow but 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
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 BY
|
Name : |
Mr. Dinesh Seni |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-22-42225858 |
LOCATIONS
|
Registered Office : |
C-126, Durian Estate Premises Co-Operative Housing Society
Limited, Goregaon - Mulund Link Road, Goregaon (East), Mumbai – 400063,
Maharashtra, India |
|
Tel. No.: |
91-22-42225858 |
|
Fax No.: |
91-22-42225800 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
1500 Sq. Ft. (Appx) |
|
Location : |
Owned |
|
Locality: |
Industrial |
|
|
|
|
Factory : |
Survey No.288/2, Village – Velugam, Via Surangi Road, Silvassa –
396230, Dadra and Nagar Haveli, India |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Anilkumar Mandhana |
||||||||||||||||
|
Designation : |
Director |
||||||||||||||||
|
Address : |
502, Casa Blanca, Opposite Shaan Cinema, M.G. Road, Vile
Parle, Mumbai - 400057, Maharashtra, India |
||||||||||||||||
|
Date of Birth/Age : |
23.02.1972 |
||||||||||||||||
|
Date of Appointment : |
12.03.2014 |
||||||||||||||||
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DIN No.: |
00571811 |
||||||||||||||||
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Other Directorship:
|
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|
||||||||||||||||
|
Name : |
Mr. Dineshkumar Dulichand Jain |
||||||||||||||||
|
Designation : |
Director |
||||||||||||||||
|
Address : |
1401/A, Tulsi Tower, Mahatma Gandhi Road, Goregaon (West),
Mumbai – 400062, Maharashtra, India |
||||||||||||||||
|
Date of Appointment : |
30.09.2017 |
||||||||||||||||
|
DIN No.: |
00161233 |
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|
Other Directorship:
|
|||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Dinesh Seni |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Anilkumar Mandhana |
|
67500 |
|
Sarita Anil Madani |
|
182500 |
|
Anil and Sarita Mandhana |
|
150000 |
|
Amit Kumar Mandhana |
|
225000 |
|
Pooja Amit Mandhana |
|
25000 |
|
Amit and Pooja Mandhana |
|
150000 |
|
Nishant Didwania |
|
400000 |
|
Vinod Kumar Didwania |
|
400000 |
|
Careview Enterprises Private Limited, India |
|
50000 |
|
Mukul Gupta |
|
300000 |
|
Ramesh Lakhwani |
|
50000 |
|
Total |
|
2000000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2017
|
Category |
Percentage |
|
Promoters- Individual/Hindu Undivided Family- Indian |
97.50 |
|
Public/Other than promoters - Body corporate |
2.50 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacture of Paint, Varnishes and Similar Product.
[Registered Activity] |
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Products : |
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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 denied by the management |
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Bankers : |
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Facilities : |
(INR
In Million)
LONG TERM
BORROWING Term Loan from Cosmos Co-Operative Bank Limited is against exclusive charge on Land and Building at Survey no. 288/2 admeasuring 16600 sq. Melers, situated at Village _ Velugam, V.T. of Dadra and Nagar Haven, Hypothecation of Plant and Machinery situated at above given address at Silvasa and Machinery purchased under LC on exclusive basis. SHORT TERM BORROWING Working Capital Loans from Cosmos Co-Operative Bank Limited are secured by way of 1st pari passu charge on current assets (Present and future) including hypothecation of Raw Materials, Work in Process, Finished Goods, Stores and Spares and Book Debts and 2nd pari passu charge on Company's Fixed Assets excluding assets specificity charged. |
|
Auditors : |
|
|
Name : |
Ashok Bairagra and Associates Chartered Accountants |
|
Address : |
B-2,404, Shubham Center, Cardinal Gracious Road, Chakala, Andheri
(East), Mumbai – 400099, Maharashtra, India |
|
Tel. No.: |
91-22-28259939/28259940 |
|
Fax No.: |
91-22-28259942 |
|
E-Mail : |
|
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAEFA7363C |
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|
|
|
Memberships : |
Not Available |
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|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associate/Enterprises
where control: |
|
CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
INR 10/- each |
INR 20.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
INR 10/- each |
INR 20.000 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 |
20.000 |
20.000 |
19.725 |
|
(b) Reserves &
Surplus |
28.212 |
28.180 |
58.875 |
|
(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) |
48.212 |
48.180 |
78.600 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
143.360 |
156.449 |
77.939 |
|
(b) Deferred tax
liabilities (Net) |
1.802 |
1.802 |
0.000 |
|
(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) |
145.162 |
158.251 |
77.939 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
109.646 |
94.087 |
18.055 |
|
(b) Trade payables |
16.526 |
13.210 |
10.430 |
|
(c) Other current
liabilities |
24.136 |
25.485 |
0.000 |
|
(d) Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Current Liabilities
(4) |
150.308 |
132.782 |
28.485 |
|
|
|
|
|
|
TOTAL |
343.682 |
339.213 |
185.024 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
239.669 |
248.395 |
154.667 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.212 |
0.212 |
0.100 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
239.881 |
248.607 |
154.767 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
49.519 |
47.650 |
6.521 |
|
(c) Trade receivables |
26.491 |
15.324 |
0.000 |
|
(d) Cash and cash
equivalents |
1.396 |
0.222 |
8.978 |
|
(e) Short-term loans and
advances |
11.367 |
12.986 |
6.233 |
|
(f) Other current assets |
15.028 |
14.424 |
8.525 |
|
Total Current Assets |
103.801 |
90.606 |
30.257 |
|
|
|
|
|
|
TOTAL |
343.682 |
339.213 |
185.024 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
328.444 |
137.374 |
0.000 |
|
|
Other Income |
1.266 |
0.503 |
0.000 |
|
|
TOTAL |
329.710 |
137.877 |
0.000 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
229.600 |
109.389 |
0.000 |
|
|
Employees benefits
expense |
32.786 |
17.191 |
0.000 |
|
|
Other expenses |
27.914 |
15.979 |
0.000 |
|
|
TOTAL |
290.300 |
142.559 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
39.410 |
(4.682) |
0.000 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
28.772 |
15.635 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
10.638 |
(20.317) |
0.000 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
10.611 |
9.402 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
0.027 |
(29.719) |
0.000 |
|
|
|
|
|
|
|
Less |
TAX |
(0.005) |
1.801 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
0.032 |
(31.520) |
0.000 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
0.02 |
(15.76) |
0.00 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
|
|
|
|
|
Cash generated from operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net Cash from Operating Activities |
27.742 |
(43.223) |
NA |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
29.44 |
40.72 |
0.00 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
12.40 |
8.96 |
0.00 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
26.27 |
44.08 |
0.00 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.80 |
(0.10) |
0.00 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.16 |
(0.02) |
0.00 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.85 |
0.85 |
0.58 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
5.25 |
5.20 |
1.22 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
3.12 |
2.76 |
0.36 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
4.97 |
5.16 |
1.97 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
1.37 |
(0.30) |
0.00 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
0.01 |
(22.94) |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
0.01 |
(9.29) |
0.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
0.07 |
(65.42) |
0.00 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
0.69 |
0.68 |
1.06 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.36 |
0.32 |
0.83 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.14 |
0.14 |
0.42 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
12.65 |
12.53 |
4.87 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
0.69 |
0.68 |
1.06 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
19.725 |
20.000 |
20.000 |
|
Reserves & Surplus |
58.875 |
28.180 |
28.212 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
78.600 |
48.180 |
48.212 |
|
|
|
|
|
|
Long Term borrowings |
77.939 |
156.449 |
143.360 |
|
Short Term borrowings |
18.055 |
94.087 |
109.646 |
|
Total
borrowings |
95.994 |
250.536 |
253.006 |
|
Debt/Equity
ratio |
1.221 |
5.200 |
5.248 |
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
|
0.000 |
137.374 |
328.444 |
|
|
|
|
139.087 |
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
|
0.000 |
137.374 |
328.444 |
|
Profit |
0.000 |
(31.520) |
0.032 |
|
|
|
(22.94%) |
0.01% |
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 |
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 |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
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 |
REVIEW OF OPERATIONS:
During the year, the company earned total revenue of INR 329.710 Million as against INR 137.877 Million in the previous year. The Profit before tax was INR 0.027 million as against loss of INR 29.719 Million in the previous year. The Profit after tax was INR 0.032 million as against loss of INR 31.520 Million in the previous year.
The company is undertaking active efforts towards accelerating the growth speed and is optimistic about better performance in the future.
UNSECURED LOANS:
(INR
In Million)
|
Particulars |
As
on 31.03.2017 |
As
on 31.03.2016 |
|
LONG TERM
BORROWING |
|
|
|
From directors |
2.760 |
1.650 |
|
From relative and others |
60.444 |
54.450 |
|
Total |
63.204 |
56.100 |
|
LONG TERM
BORROWING All the Term loans are further secured by personal guarantees of promoter Directors. |
||
INDEX OF CHARGE:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
AMOUNT |
ADDRESS |
|
1 |
C32459745 |
10529420 |
THE
COSMOS CO-OP BANK LIMITED |
14/10/2014 |
325000000.0 |
SHOP
NO. 1,2,3, KHANDWALA ARCADE,KHANDWALA LANE, M ALAD (E),MUMBAIMH400097IN |
FIXED ASSETS:
- Land
- Factory Building
- Plant and Machinery
- Electrical Fittings
- Furniture and Fixtures
- Computer Software
- Computers
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 65.22 |
|
|
1 |
INR 91.33 |
|
Euro |
1 |
INR 79.96 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHW |
|
|
|
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.