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|
MIRA
INFORM REPORT
|
Report No. : |
500971 |
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Report Date : |
30.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
BHORUKA EXTRUSIONS PRIVATE LIMITED (w.e.f.15.10.2013) |
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Formerly Known
As : |
BHORUKA
FACADES PRIVATE LIMITED |
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Registered Office
: |
No.1, K.R.S. Road, Metagalli, Mysore-570016, Karnataka |
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Tel. No.: |
91-821-4286100 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
11.02.2013 |
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Com. Reg. No.: |
08-067824 |
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Capital
Investment / Paid-up Capital : |
INR 1100.080 Million |
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CIN No.: [Company Identification
No.] |
U27310KA2013PTC067824 |
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IEC No.: |
0713000384 |
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TIN No: |
29361124335 |
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GST No.: |
29AAFCB3642P1Z7 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAFCB3642P |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
· Manufacturer, Exporter and Supplier of Aluminium Extrusions, Aluminium Doors, Windows, etc. [Confirmed by Management] · Subject is engaged in the business of Manufacturing and Selling of Aluminium Structural Extrusions, including Development of special sections for customised extrusions. [Registered Activity] |
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No. of Employees
: |
500 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a wholly owned subsidiary of “YKK Holding Asia Pte. Limited, Singapore” and was incorporated in the year 2013. The company is engaged in the manufacturing and exporting of aluminium extrusion. As per the financials of the FY 2017, the company has achieved 39% growth in its sales turnover as compared to previous year along with an average profit margin of 1.66%. Rating is constrained on account of limited business track record, moderate financial risk profile marked by negative reserves. Rating takes into consideration the subject’s negligible debt balance sheet profile. Payment seems to be slow but correct. In view of the aforesaid, the company can be considered for business dealings with some caution. |
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 30.03.2018.
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 PARTED BY
|
Name : |
Mr. Kamal Roy |
|
Designation : |
Assistant Manager |
|
Contact No.: |
91-821-4286109 |
|
Date : |
28.03.2018 |
LOCATIONS
|
Registered/ Branch Office : |
No.1, K.R.S. Road, Metagalli, Mysore-570016, Karnataka, India |
|
Tel. No.: |
91-821-4286100/ 4286205/ 4286109 |
|
Mobile No.: |
91-7738051138 [Mr. Rajesh Varshney] |
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Fax No.: |
91-821-4286112 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Locality : |
Industrial |
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|
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Branch Offices : |
·
10th
Floor – ‘A’ – Wing, Mittal Towers, M. G. Road, Bangalore - 560 001, Karnataka,
India Tel. No.:91-80-42560000 Fax No.:91-80-42560011 ·
No.457,
Anna Salai, Nandanam, Chennai – 600035, Tamilnadu, India Tel. No.:91-44-42131396 ·
Monlash
Business Centre, Crescens Tower, 4th Floor, NH-7, Changampuzha Nagar Post,
Kochi, Ernakulam - 682 003, Kerala, India ·
Krisan
Business Centre, 81, Government Arts College Road, Coimbatore - 641 018,
Tamilnadu, India ·
No.-F-438,
Solaris-1, Saki Vihar Road, Andheri (East), Mumbai-400 072, Maharashtra,
India ·
GATI
Limited, P-30, G Block, MIDC, Chinchwad, Pune – 411019, Maharashtra, India ·
Delhi · Kolkata |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Rajat Agarwal |
|
Designation : |
Director |
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Address : |
1368 Double Road, Near Telephone Exchange, Kuvempunagar, Mysore-570023,
Karnataka, India |
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Date of Birth/Age : |
12.09.1982 |
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Qualification : |
Bachelor of Science |
|
Date of Appointment : |
11.02.2013 |
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PAN No.: |
AEYPA0496E |
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DIN No.: |
01622198 |
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|
|
|
Name : |
Mrs. Akira Miyazaki |
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Designation : |
Wholetime Director |
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Address : |
Sankalp Galaxy Apartments, No. 202, Second Floor, No.28, Vivekananda Road, Mysore – 570001, Karnataka, India |
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Date of Appointment : |
01.04.2017 |
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DIN No.: |
07777119 |
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Name : |
Umano Fumihiko |
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Designation : |
Director |
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Address : |
449-3, Maekaiduka-Cho, Funabashi-Shi, Chiba, Chiba 2730042 Japan |
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Date of Appointment : |
22.05.2017 |
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DIN No.: |
07817016 |
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Name : |
Tetsumi Mugita |
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Designation : |
Managing Director |
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Address : |
Sankalp Central Park, Flat # 201, 2nd Floor,Block 13 Geranium,CTS #3360,#1 to 7,Jawa Main Rd, Yadavgiri, Mysore-570020, Karnataka, India |
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Date of Birth/Age : |
07.08.1956 |
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Qualification : |
Economic graduate |
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Date of Appointment : |
23.08.2013 |
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PAN No.: |
CGUPM9279D |
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DIN No.: |
06659858 |
KEY EXECUTIVES
|
Name : |
Mrs. Sukanya Sontha |
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Designation : |
Company Secretary |
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Address : |
No. 30, Ward No. 6, Kandra Siddappa Street, Bengaluru Road, Bellary-583101, Karnataka, India |
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Date of Birth/Age : |
01.01.1988 |
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Date of Appointment : |
07.09.2015 |
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PAN No.: |
BSGPS3323B |
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|
|
|
Name : |
Mr. Kamal Roy |
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Designation : |
Assistant Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2016
|
Names of Shareholders |
|
No. of Shares |
|
YKK
Holding Asia Pte Limited, Singapore |
|
110007919 |
|
Tetsumi Mugita |
|
100 |
|
|
|
|
|
Total |
|
110008019 |
Note: Mr. Tetsumi Mugita is holding the above 100 shares as the Registered owner, the beneficial interest holder is YKK Holding Asia Pte Limited, Singapore
AS ON: 30.09.2016
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters – Body Corporate |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
· Manufacturer, Exporter and Supplier of Aluminium Extrusions, Aluminium Doors, Windows, etc. [Confirmed by Management] · Subject is engaged in the business of Manufacturing and Selling of Aluminium Structural Extrusions, including Development of special sections for customised extrusions. [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 : |
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Products : |
Finished Goods |
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Countries : |
Sri Lanka Bhutan, etc |
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Imports : |
Not Available |
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Terms : |
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Selling : |
Cash, L/C, Cheque and Others [NEFT] |
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Purchasing : |
Cash, L/C, Cheque and Others [NEFT] |
PRODUCTION STATUS: (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Wholesaler and End Users
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No. of Employees : |
500 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
S.R.
Batliboi and Associates LLP Chartered Accountants |
|
Address : |
12th and 13th Floor, "UB
City" Canberra Block, No.24, Vittal Malya Road, Bengaluru-560001,
Karnataka, India |
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PAN No.: |
ACHFS9118A |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding Company : |
YKK Holding Asia Pte Limited, Singapore |
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Fellow Subsidiary Company : |
· YKK AP Inc. · PT YKK AP, Indonesia ·
YKK Malaysia SDN BHD |
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Others Related Parties : |
· Bhoruka Fabcons Private Limited, India [U17111KA2006PTC039509] · Bhoruka Aluminium Limited, India [L27203KA1979PLC003442] |
CAPITAL STRUCTURE
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
110050000 |
Equity Shares |
INR 10/- each |
INR 1100.500 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
110008019 |
Equity Shares |
INR 10/- each |
INR 1100.080 Million |
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|
FINANCIAL DATA
[all figures are
in 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 |
1100.080 |
1100.080 |
1100.080 |
|
(b) Reserves and Surplus |
(428.840) |
(453.409) |
262.828 |
|
(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) |
671.240 |
646.671 |
1362.908 |
|
|
|
|
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|
(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 |
50.000 |
50.000 |
50.000 |
|
(d) long-term
provisions |
31.267 |
32.156 |
30.044 |
|
Total Non-current
Liabilities (3) |
81.267 |
82.156 |
80.044 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
46.144 |
43.453 |
28.350 |
|
(b) Trade
payables |
97.041 |
86.199 |
105.637 |
|
(c) Other
current liabilities |
152.017 |
80.166 |
78.164 |
|
(d) Short-term
provisions |
18.103 |
13.522 |
10.167 |
|
Total Current
Liabilities (4) |
313.305 |
223.340 |
222.318 |
|
|
|
|
|
|
TOTAL |
1065.812 |
952.167 |
1665.270 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
326.061 |
332.232 |
569.776 |
|
(ii)
Intangible Assets |
4.571 |
0.000 |
388.153 |
|
(iii) Tangible assets
capital work-in-progress |
2.094 |
1.906 |
5.396 |
|
(iv)
Intangible assets under development |
0.482 |
1.355 |
0.000 |
|
(b) Non-current Investments |
0.504 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
18.763 |
19.327 |
21.183 |
|
(e) Other
Non-current assets |
200.000 |
200.000 |
0.000 |
|
Total Non-Current
Assets |
552.475 |
554.820 |
984.508 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
186.545 |
139.545 |
181.601 |
|
(c) Trade
receivables |
134.929 |
98.342 |
115.281 |
|
(d) Cash and
bank balances |
95.453 |
58.590 |
303.567 |
|
(e)
Short-term loans and advances |
86.129 |
82.401 |
65.340 |
|
(f) Other
current assets |
10.281 |
18.469 |
14.973 |
|
Total
Current Assets |
513.337 |
397.347 |
680.762 |
|
|
|
|
|
|
TOTAL |
1065.812 |
952.167 |
1665.270 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
1480.995 |
1065.429 |
1268.787 |
|
|
Other Income |
19.444 |
24.255 |
35.109 |
|
|
TOTAL |
1500.439 |
1089.684 |
1303.896 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
966.201 |
649.116 |
963.263 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(38.494) |
40.483 |
(19.437) |
|
|
Employee benefit expense |
156.852 |
177.037 |
157.931 |
|
|
Other expenses |
327.784 |
253.539 |
299.763 |
|
|
Exceptional items |
0.000 |
489.939 |
0.000 |
|
|
TOTAL |
1412.343 |
1610.114 |
1401.520 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
88.096 |
(520.430) |
(97.624) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
16.457 |
6.987 |
10.900 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
71.639 |
(527.417) |
(108.524) |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
47.070 |
188.819 |
164.367 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
24.569 |
(716.236) |
(272.891) |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
24.569 |
(716.236) |
(272.891) |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
47.202 |
90.464 |
31.776 |
|
|
TOTAL EARNINGS |
47.202 |
90.464 |
31.776 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
0.000 |
15.018 |
0.000 |
|
|
Components and spare
parts |
1.708 |
2.918 |
3.323 |
|
|
Capital Goods |
3.929 |
1.730 |
15.920 |
|
|
TOTAL IMPORTS |
5.637 |
19.666 |
19.243 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
0.22 |
(6.51) |
(2.48) |
Expected Sales (2017-2018): INR 1500.000 Million
The above information has been parted by Mr. Kamal Roy [Assistant
Manager]
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 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
74.026 |
(29.221) |
(199.006) |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
74.443 |
(27.636) |
(202.640) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
33.25 |
33.69 |
33.16 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
10.98 |
10.83 |
11.01 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
36.66 |
48.47 |
40.03 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.47 |
(3.73) |
(0.54) |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.26 |
(1.55) |
(0.10) |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.29 |
0.23 |
0.13 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.07 |
0.07 |
0.02 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.47 |
0.35 |
0.16 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.50 |
0.52 |
0.71 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
5.35 |
(74.49) |
(8.96) |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
1.66 |
(67.23) |
(21.51) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
2.31 |
(75.22) |
(16.39) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
3.66 |
(110.76) |
(20.02) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.64 |
1.78 |
3.06 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.04 |
1.15 |
2.25 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.63 |
0.68 |
0.82 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.04 |
0.04 |
0.03 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.64 |
1.78 |
3.06 |
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 |
1100.080 |
1100.080 |
1100.080 |
|
Reserves & Surplus |
262.828 |
(453.409) |
(428.840) |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
1362.908 |
646.671 |
671.240 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
28.350 |
43.453 |
46.144 |
|
Total
borrowings |
28.350 |
43.453 |
46.144 |
|
Debt/Equity
ratio |
0.021 |
0.067 |
0.069 |
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 |
1268.787 |
1065.429 |
1480.995 |
|
|
|
(16.028) |
39.005 |
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 |
1268.787 |
1065.429 |
1480.995 |
|
Profit/ (Loss) |
(272.891) |
(716.236) |
24.569 |
|
|
(21.51
%) |
(67.23
%) |
1.66
% |
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) |
Yes |
|
16 |
No. of employees |
Yes |
|
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 |
Yes |
|
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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES: NO
CHARGES EXISTS FOR COMPANY
GENERAL INFORMATION
Bhoruka Extrusions Private Limited (the 'Company') was incorporated on February 11, 2013 and is in the business of production and sale of aluminium structural extrusions, including development of special sections for customised extrusions.
The Company entered into a business transfer agreement (‘BTA’) with Bhoruka Aluminium Limited (‘BAL’) on March 1, 2013. Pursuant to the BTA, the business of BAL relating to extrusions has been transferred to the Company as a going concern, effective May 31, 2013. The assets and liabilities of the aluminium extrusion division have been acquired for a cash consideration of INR 1035.272 Million and a contingent payment of INR 100.000 Million which is subject to the Company meeting certain business conditions specified in the BTA. Out of aforementioned contingent payment INR 50,000,000 has been paid in earlier years and the balance of INR 50,000,000 would be payable in future subject to the fulfilment of certain conditions specified in the BTA.
PERFORMANCE HIGHLIGHTS:
The Company has made a profit of INR 24.569 Million during the period ended March 31, 2017. The management is expecting improved business and profitability in the future years.
FIXED ASSETS:
Tangible Assets
·
Land
·
Buildings
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Computer Equipments
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, 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 65.04 |
|
UK Pound |
1 |
INR 92.28 |
|
Euro |
1 |
INR 80.62 |
INFORMATION DETAILS
|
Information
Gathered by : |
AKY |
|
|
|
|
Analysis Done by
: |
PRY |
|
|
|
|
Report Prepared
by : |
IND |
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.