|
|
|
MIRA INFORM REPORT
|
Report No. : |
500976 |
|
Report Date : |
30.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
TRENDSUTRA PLATFORM SERVICES PRIVATE
LIMITED |
|
|
|
|
Registered
Office : |
801-802, 8th Floor, Tower B, 247 Business Park, LBS Marg,
Vikroli (West) Mumbai – 400083, Maharashtra |
|
Tel. No.: |
91-22-61590000 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
25.07.2011 |
|
|
|
|
Com. Reg. No.: |
11-220126 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 5297.214 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74990MH2011PTC220126 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
27AADCT9282F1Z0 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCT9282F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Providing Telecommunication, Broadcasting and Information Supply
Services. (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 |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is wholly owned subsidiary of Trendsutra Cyprus Limited,
Cyprus. It is an established company incorporated in the year 2011 having
satisfactory track record. For the financial year ended 2017, the company has registered huge
accumulated losses which seems to be increasing over years. However, rating takes into consideration timely equity infusion and
improvement in the company’s revenue profile. Rating also considers company’s healthy net worth base along with
negligible debt recorded and strong support received to the company from its
holding entity. Further, the company also derives strength from its established brand
name, i.e. “Pepperfry.com” in furniture segment. Trade relations are fair. Business is active. Payment terms are seems
to be slow but correct. In view of aforesaid, the company can be considered for business
dealings at usual trade terms and condition. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2016.
BIFR (Board for Industrial & Financial
Reconstruction) LISTING STATUS
Subject’s name is
not listed as a Sick Unit in the publicly available BIFR (Board for Industrial
& Financial Reconstruction) list as of 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 DENIED
Management Non-Cooperative [Tel. No.: 91-22-61590000]
LOCATIONS
|
Registered Office : |
801-802, 8th Floor, Tower B, 247 Business Park, LBS Marg, Vikroli
(West) Mumbai – 400083, Maharashtra, India |
|
Tel. No.: |
91-22-61590000 |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Ambaresh Murty |
|
Designation : |
Director |
|
Address : |
Flat No. 401, 4th Floor, Tina Bliss, B Wing, Ghatla Road,
Chembur (East), Mumbai – 400071, Maharashtra, India |
|
Date of Birth/Age : |
30.06.1972 |
|
Qualification : |
PGDBM from IIM Calcutta |
|
Date of Appointment : |
15.11.2011 |
|
PAN No.: |
ACHPM2338L |
|
DIN No.: |
03279054 |
|
|
|
|
Name : |
Mr. Kashyap Vadapalli |
|
Designation : |
Director |
|
Address : |
1901, 19th Floor, A – sky, Flama, Dosti Flamingos Sewree, Mumbai
– 400015, Maharashtra, India |
|
Date of Birth/Age : |
18.09.1972 |
|
Qualification : |
BE, MBA from IIM Calcutta |
|
Date of Appointment : |
30.09.2014 |
|
DIN No.: |
06963638 |
|
|
|
|
Name : |
Mr. Sanjay Netrabile |
|
Designation : |
Additional Director |
|
Address : |
F113, Tarapore Garden, New Link Road, Near Oshiwara Police Station, Andheri (West), Mumbai – 400053, Maharashtra, India |
|
PAN No.: |
01.02.2017 |
|
DIN No.: |
07453001 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Trendsutra Cyprus Limited, Cyprus |
|
529721441 |
|
Ambareesh Murty |
|
1 |
|
|
|
|
|
Total |
|
529721442 |
Equity Share Break up (Percentage of Total Equity)
As on 28.09.2017
|
Category |
Percentage |
|
Promoter - Bodies
corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing Telecommunication, Broadcasting and Information Supply
Services. (Registered
Activity) |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
Brand Names : |
Not Divulged |
||||
|
|
|
||||
|
Agencies Held : |
Not Divulged |
||||
|
|
|
||||
|
Exports : |
Not Divulged |
||||
|
|
|
||||
|
Imports : |
Not Divulged |
||||
|
|
|
||||
|
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 : |
|
||||||||||||||||||||||
|
|
|
|
Auditors : |
|
|
Name : |
B S R and Company LLP Chartered Accountants |
|
Address : |
5th Floor, Lodha Excelus, Apollo Mills Compound, N M Joshi Marg, Mahalaxmi, Mumbai, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFB9852F |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding Company : |
Trendsutra Cyprus Limited, Cyprus |
|
|
|
|
Ultimate Holding
Company : |
Trendsutra Cayman Holdings |
|
|
|
|
Fellow Subsidiary
Company : |
U74999MH2011PTC220343
|
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
600000000 |
Equity Shares |
INR 10/- each |
INR 6000.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
529721442 |
Equity Shares |
INR 10/- each |
INR 5297.214
Million |
|
|
|
|
|
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 |
5297.214 |
4291.334 |
1144.396 |
|
(b) Reserves &
Surplus |
(3918.935) |
(2653.035) |
(1143.253) |
|
(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) |
1378.279 |
1638.299 |
1.143 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
328.571 |
0.000 |
0.000 |
|
(b) Deferred tax
liabilities (Net) |
7.358 |
13.417 |
10.428 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
9.559 |
11.675 |
6.003 |
|
Total Non-current
Liabilities (3) |
345.488 |
25.092 |
16.431 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
213.993 |
194.474 |
180.532 |
|
(c) Other current
liabilities |
107.982 |
69.929 |
88.973 |
|
(d) Short-term provisions |
0.962 |
0.604 |
0.329 |
|
Total Current Liabilities
(4) |
322.937 |
265.007 |
269.834 |
|
|
|
|
|
|
TOTAL |
2046.704 |
1928.398 |
287.408 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
45.949 |
63.832 |
41.824 |
|
(ii) Intangible Assets |
33.878 |
5.917 |
3.885 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
7.295 |
|
(iv) Intangible assets
under development |
1.264 |
32.903 |
6.166 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
124.309 |
107.925 |
62.371 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
205.400 |
210.577 |
121.541 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
499.200 |
883.240 |
0.000 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
0.000 |
0.000 |
2.437 |
|
(d) Cash and cash
equivalents |
365.902 |
269.073 |
3.078 |
|
(e) Short-term loans and
advances |
966.744 |
473.548 |
160.352 |
|
(f) Other current assets |
9.458 |
91.960 |
0.000 |
|
Total Current Assets |
1841.304 |
1717.821 |
165.867 |
|
|
|
|
|
|
TOTAL |
2046.704 |
1928.398 |
287.408 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
1149.850 |
914.720 |
235.961 |
|
|
Other Income |
125.729 |
67.792 |
17.049 |
|
|
TOTAL |
1275.579 |
982.512 |
253.010 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Employees benefits
expense |
272.030 |
236.002 |
150.163 |
|
|
Expenditure on
production, transportation and other expenditure pertaining to exploration
and production activities |
3.705 |
1.451 |
0.000 |
|
|
Other expenses |
2238.603 |
2260.499 |
966.492 |
|
|
TOTAL |
2514.338 |
2497.952 |
1116.655 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
(1238.759) |
(1515.440) |
(863.645) |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
4.660 |
1.148 |
1.143 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
(1243.419) |
(1516.588) |
(864.788) |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
45.541 |
32.966 |
17.650 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
(1288.960) |
(1549.554) |
(882.438) |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
(1288.960) |
(1549.554) |
(882.438) |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
(2.60) |
(5.58) |
(11.71) |
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 flow from operating activity |
(1745.769) |
(1939.249) |
(750.687) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
0.00 |
0.00 |
3.77 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
0.00 |
0.00 |
96.82 |
|
|
|
|
|
|
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) |
(15.28) |
(14.76) |
(14.60) |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets) |
0.32 |
0.14 |
0.94 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.24 |
0.00 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.23 |
0.16 |
236.08 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.06 |
0.06 |
51.77 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
(265.83) |
(1320.07) |
(755.59) |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
(112.10) |
(169.40) |
(373.98) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
(62.98) |
(80.35) |
(307.03) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
(93.52) |
(94.58) |
(77203.67) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
5.70 |
6.48 |
0.61 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
5.70 |
6.48 |
0.61 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.67 |
0.85 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
0.06 |
0.00 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
5.70 |
6.48 |
0.61 |
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 |
1144.396 |
4291.334 |
5297.214 |
|
Reserves & Surplus |
(1143.253) |
(2653.035) |
(3918.935) |
|
Net worth |
1.143 |
1638.299 |
1378.279 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
328.571 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
0.000 |
0.000 |
328.571 |
|
Debt/Equity ratio |
0.000 |
0.000 |
0.238 |
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 |
235.961 |
914.720 |
1149.850 |
|
|
|
287.657 |
25.705 |
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 |
235.961 |
914.720 |
1149.850 |
|
Profit |
(882.438) |
(1549.554) |
(1288.960) |
|
|
(373.98%) |
(169.40%) |
(112.10%) |
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 |
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 |
UNSECURED LOAN
|
Unsecured Loan |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Rupee term loans from others |
328.571 |
0.000 |
|
|
|
|
|
Total |
328.571 |
0.000 |
INDEX
OF CHARGES:
|
Charges Registered |
||||||||
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G41631953 |
100091809 |
INNOVEN CAPITAL INDIA PRIVATE LIMITED |
30/03/2017 |
- |
- |
400000000.0 |
12th FLOOR, EXPRESS TOWERS,NARIMAN POINT,MUMBAIMa400021IN |
FIXED ASSETS
- Plant and
Equipment
- Furniture and
Fixture
- Office
Equipment
- Computer
Equipment
- Leasehold
Improvement
PRESS RELEASE
PEPPERFRY NARROWS LOSS TO RS128.8 CRORE IN 2016-17
December 12, 2017
Online furniture
start-up Pepperfry, run by Trendsutra Platform Services, reported a revenue of
INR 1275.000 Million in 2016-17, up 30% from INR 982.000 Million from the
previous year
Bengaluru: Online furniture marketplace Pepperfry, run by Trendsutra Platform Services Pvt. Ltd, narrowed its losses to INR 128.8 Million in 2016-17, its filings with the Registrar of Companies (RoC) show. In the previous financial year, the company reported INR 154.9 Million losses.
The firm reported a revenue of INR 127.5 Million, up 30% from INR 982.000 Million last year.
Pepperfry’s losses almost doubled in FY16 due to higher advertising spends. In FY17, the company recovered after advertising spends dropped 10% to INR 1384.000 Million. Pepperfy had incurred INR 154.9 Million in advertising spends in FY16.
Employee costs, however, increased 15% to INR 27.2 Million in FY17 from INR 236.000 Million in the previous year.
In September 2016, the company raised INR 210 Million in a Series-E round from existing investors including Goldman Sachs, Bertelsmann India Investments, Norwest Venture Partners and Zodius Technology Fund. Since inception in 2011, Pepperfry has raised around $160 million from investors.
At the September funding round, Ambareesh Murty, chief executive of Pepperfry, revealed plans to set up furniture shops named Pepperfry Studio in small towns and cities.
In an interview last month, the company’s co-founder Ashish Shah said that Pepperfry makes 45% gross margin and claimed to be profitable at the pre-marketing level.
He added that the company is planning on an initial public offering (IPO), as it expects to turn profitable in the next 12-18 months.
Currently, Pepperfry has more than 1 million home furnishing products on its platform, and delivers to more than 500 cities in India. It also has a fleet of 400 trucks, with 18 warehouses across the country.
It claims to have an average order value of INR 18,000—with 80% of its business coming from furniture sales. Rest of its business comes from décor and utility sales.
Rivals in the online furniture marketplace in India include Urban Ladder, Homelane and Livspace. Used furniture marketplaces like Zefo are also making their mark in the vertical; Zefo last month raised INR 400.000 Million (approximately $6 million) in a funding round led by Sequoia India.
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 65.04 |
|
|
1 |
INR 92.28 |
|
Euro |
1 |
INR 80.62 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
JYO |
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.