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|
MIRA INFORM REPORT
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Report No. : |
506966 |
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Report Date : |
03.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
SQS INDIA INFOSYSTEMS PRIVATE LIMITED [w.e.f.29.10.2008] |
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|
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Formerly Known
As : |
VERISOFT INFOSYSTEMS PRIVATE LIMITED |
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Registered
Office : |
Plot No. 25/1, Rajiv Gandhi Infotech Park, MIDC Phase III, Hinjewadi, Pune – 411057, Maharashtra |
|
Tel. No.: |
91-20-39166000 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of Incorporation
: |
28.11.2003 |
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Com. Reg. No.: |
11-018619 |
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Capital
Investment / Paid-up Capital : |
INR 1.149 Million |
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CIN No.: [Company Identification
No.] |
U72200PN2003PTC018619 |
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IEC No.: [Import-Export Code No.] |
Not Divulged |
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TIN No.: |
27030686546 |
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GSTN : [Goods & Service Tax
Registration No.] |
27AABCV7774J1ZQ |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AABCV7774J |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Professional, Technical and Business Services and IT Support Services.
[Registered Activity and also Confirmed by Management] |
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No. of Employees
: |
800 [Approximately] |
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 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of “SQS Software Quality Systems AG” based in Germany. It was incorporated in the year 2003 and it is an importer and exporter of computer software like data processing and scientific software etc. As per the financials of March 2017, the company has registered growth of 21.40% in its revenue as compared to previous year revenue and has reported good profit margin of 20.07%. Rating takes into consideration the company’s established track record of business operations marked by healthy net worth base along with low solvency indicators due to zero debt balance sheet and good liquidity position. Rating also takes into account the strong financial and managerial support received from its holding entity and well experienced management team. Further, the company has reported earnings per share of INR 2,113.38 against its face value of INR 10. Payments seems to be regular. In view of aforesaid, the company can be considered for good 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
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 03.05.2018.
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. Ketan Javale |
|
Designation : |
Admin Manager |
|
Contact No.: |
91-20-3916600 |
|
Date : |
30.04.2018 |
LOCATIONS
|
Registered/ Branch Office : |
Plot No. 25/1, Rajiv Gandhi Infotech Park, MIDC Phase III, Hinjewadi, Pune – 411057, Maharashtra, India |
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Tel. No.: |
91-20-39166000 |
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Fax No.: |
91-20-39166100 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Locality : |
Commercial |
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Factory : |
Rajiv Gandhi IT Park MIDC Phase III, Hinjewadi, Pune 411057, Maharashtra, India |
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Tel. No.: |
91-20-39166000 |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr.
Abhijit Mukund Atre |
|
Designation : |
Director |
|
Address : |
Bhagyashri, Flat No. 104. S.No. 37 Kundan Park Hingane, BK
Pune – 411052, Maharashtra, India |
|
Date of Birth/Age : |
15.03.1974 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
01.04.2016 |
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PAN No.: |
ADWPA3522C |
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DIN No.: |
03338158 |
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|
|
|
Name : |
Ralph Franz Gillessen |
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Designation : |
Director |
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Address : |
Gordeler Srasse 10 Baesweiler 52499 De |
|
Date of Appointment : |
25.01.2012 |
|
DIN No.: |
05184138 |
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|
|
|
Name : |
Rene Wolfgang Franz Gawron |
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Designation : |
Director |
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Address : |
Leyboldstrasse 58 Cologne 50968 De |
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Date of Appointment : |
26.02.2015 |
|
DIN No.: |
06744645 |
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|
|
|
Name : |
Mr. Prashant Eknath Bramhankar |
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Designation : |
Director |
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Address : |
E-304, Kapil Abhijat Society, Dahanukar Colony,Near
Cummins India, Kot Hrud Pune – 411038, Maharashtra, India |
|
Date of Birth/Age : |
05.05.1970 |
|
Qualification : |
Graduate |
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Date of Appointment : |
01.04.2016 |
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DIN No.: |
0007439819 |
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PAN No.: |
AALPB5246L |
KEY EXECUTIVES
|
Name : |
Mr. Ketan Javale |
|
Designation : |
Admin Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
SQS software quality system AG |
|
114754 |
|
Rene Gawron |
|
1 |
|
|
|
|
|
Total |
|
114755 |
AS ON: 29.09.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Public/Other than promoters (Individual/Hindu Undivided Family - Indian) |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Professional, Technical and Business Services and IT Support Services.
[Registered Activity and also Confirmed by Management] |
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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 Available |
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Imports : |
Not Available |
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Terms : |
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Selling : |
Cash, Advance Payment, L/C, Cheque, RTGS, NEFT and Credit [30/ 60/ 90
Days] |
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Purchasing : |
Cash, Advance Payment, L/C, Cheque, RTGS, NEFT and Credit [30/ 60/ 90
Days] |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
End Users and Others
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No. of Employees : |
800 [Approximately] |
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Bankers : |
· The Cosmos Co-Operative Bank Limited Building
C, Shankar Nagari, Survay No. 85/1/B, Paud Road, Kothrud, Paud Road, Kothru,
Pune - 411029, Maharashtra,
India |
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Auditors : |
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|
Name : |
Walker Chandiok and Company LLP Chartered Accountants |
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Address : |
F/3A, Shree Vishramyog, CHS Limited, 145 A, L T Road, Opposite Don Bosco School, Borivali – West, Mumbai, Maharashtra, India |
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Tel. No.: |
91-20-41057000 |
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Fax No.: |
91-20-41057099 |
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Income-tax
PAN of auditor or auditor's firm : |
AAAFW4298E |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding company: |
SQS Software Quality Systems AG |
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Fellow Subsidiary Company: |
· SQS USA Inc. · SQS Group Limited, UK · SQS Software Quality Systems (Ireland) Limited · SQS Software Quality Systems (South Africa) Limited · SQS Software Quality Systems Egypt · SQS Software Quality Systems (Schweiz) AG · SQS Software Quality Systems Finland OY · SQS Software Quality Systems, Sweden AB · SQS Netherland B.V. · SQS Software Quality Systems Ges.mbH (Austria) · SQS Group Management Consulting Ges.mbH (Austria) · SQS Software Quality Systems Nordic AB, Sweden · SQS India BFSI Limited [L64202TN1998PLC066604] · SQS Group Management Consulting GmbH (Germany) · Trissential LLC · SQS BFSI INC · SQS North America LLC · SQS Italia S.p.A. |
CAPITAL STRUCTURE
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
850000 |
Equity Shares |
INR 10/- each |
INR 8.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
114755 |
Equity Shares |
INR 10/- each |
INR 1.148 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 |
1.148 |
1.148 |
1.149 |
|
(b) Reserves & Surplus |
1094.476 |
851.955 |
601.881 |
|
(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) |
1095.624 |
853.103 |
603.030 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
96.665 |
142.569 |
150.784 |
|
(b) Deferred tax liabilities (Net) |
4.895 |
0.000 |
1.776 |
|
(c)
Other long term liabilities |
0.000 |
13.833 |
4.655 |
|
(d)
long-term provisions |
21.573 |
22.255 |
17.694 |
|
Total
Non-current Liabilities (3) |
123.133 |
178.657 |
174.909 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b)
Trade payables |
21.611 |
29.683 |
17.588 |
|
(c)
Other current liabilities |
81.705 |
107.193 |
28.877 |
|
(d)
Short-term provisions |
30.251 |
26.659 |
14.442 |
|
Total
Current Liabilities (4) |
133.567 |
163.535 |
60.907 |
|
|
|
|
|
|
TOTAL |
1352.324 |
1195.295 |
838.846 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
664.319 |
264.619 |
269.140 |
|
(ii)
Intangible Assets |
0.000 |
0.006 |
0.097 |
|
(iii)
Capital work-in-progress |
53.480 |
476.106 |
125.285 |
|
(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) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
0.000 |
5.906 |
0.000 |
|
(e)
Other Non-current assets |
190.037 |
198.657 |
122.939 |
|
Total
Non-Current Assets |
907.836 |
945.294 |
517.461 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c)
Trade receivables |
308.006 |
99.837 |
177.479 |
|
(d)
Cash and cash equivalents |
10.280 |
13.586 |
63.755 |
|
(e)
Short-term loans and advances |
15.210 |
12.509 |
10.231 |
|
(f)
Other current assets |
110.992 |
124.069 |
69.920 |
|
Total
Current Assets |
444.488 |
250.001 |
321.385 |
|
|
|
|
|
|
TOTAL |
1352.324 |
1195.295 |
838.846 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
1208.295 |
995.304 |
815.631 |
|
|
|
Other Income |
0.323 |
25.472 |
1.443 |
|
|
|
TOTAL |
1208.618 |
1020.776 |
817.074 |
|
|
|
[Due to business
growth] |
|
||
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employees benefits expense |
676.413 |
568.544 |
441.917 |
|
|
|
Other expenses |
170.814 |
154.503 |
154.257 |
|
|
|
TOTAL |
847.227 |
723.047 |
596.174 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
361.391 |
297.729 |
220.900 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
9.565 |
9.307 |
9.948 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
351.826 |
288.422 |
210.952 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
44.819 |
29.560 |
36.571 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
307.007 |
258.862 |
174.381 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
64.486 |
8.788 |
18.056 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
242.521 |
250.074 |
156.325 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Value of services exported |
1075.590 |
0.288 |
|
|
|
|
Reimbursement of expenses |
163.188 |
1.112 |
|
|
|
TOTAL EARNINGS |
1238.778 |
1.400 |
664.361 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
components and spare parts |
8.152 |
18.623 |
3.654 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (INR) |
2113.38 |
2179.20 |
1362.25 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
25.159 |
38.666 |
0.000 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
166.243 |
341.897 |
194.765 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
97.551 |
288.120 |
154.178 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
93.04 |
36.61 |
79.42 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
3.92 |
9.97 |
4.60 |
|
|
|
|
|
|
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) |
0.50 |
0.40 |
0.56 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.19 |
0.29 |
0.25 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.11 |
0.21 |
0.25 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.12 |
0.19 |
0.10 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.66 |
0.87 |
0.65 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
37.78 |
31.99 |
22.21 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
20.07 |
25.13 |
19.17 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
17.93 |
20.92 |
18.64 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
22.14 |
29.31 |
25.92 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
3.33 |
1.53 |
5.28 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
3.33 |
1.53 |
5.28 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.81 |
0.71 |
0.72 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
106.12 |
157.87 |
131.23 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
3.33 |
1.53 |
5.28 |
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 |
1.149 |
1.148 |
1.148 |
|
Reserves & Surplus |
601.881 |
851.955 |
1094.476 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
603.030 |
853.103 |
1095.624 |
|
|
|
|
|
|
long-term borrowings |
150.784 |
142.569 |
96.665 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Current Maturities of Long
term debt |
0.000 |
38.666 |
25.159 |
|
Total
borrowings |
150.784 |
181.235 |
121.824 |
|
Debt/Equity
ratio |
0.250 |
0.212 |
0.111 |
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 |
815.631 |
995.304 |
1208.295 |
|
|
|
22.029 |
21.400 |
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 |
815.631 |
995.304 |
1208.295 |
|
Profit |
156.325 |
250.074 |
242.521 |
|
|
19.17% |
25.13% |
20.07% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
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% |
Yes |
|
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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
A60572229 |
10051615 |
THE COSMOS
CO-OPERATIVE BANK LTD. |
18/04/2007 |
- |
27/03/2009 |
19500000.0 |
BUILDING C, SHANKAR
NAGARI, SURVAY NO. 85/1/B,PAUD ROAD, KOTHRUD, PAUD ROAD, KOTHRUPUNEMH411029IN |
|
2 |
B60998341 |
10051616 |
THE COSMOS
CO-OPERATIVE BANK LTD. |
24/04/2007 |
- |
17/03/2009 |
15780000.0 |
BUILDING C, SHANKAR
NAGARI, SURVAY NO. 85/1/B,PAUD ROAD, KOTHRUD,PUNEMH411029IN |
UNSECURED LOANS
|
PARTICULARS |
31.03.2017 (INR
In Million) |
31.03.201 (INR
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Other external commercial borrowings |
96.665 |
142.569 |
|
|
|
|
|
Total |
96.665 |
142.569 |
CORPORATE
INFORMATION
The Company incorporated in Pune, India, is principally engaged in the business of software testing and is a subsidiary of SQS Software Quality Systems AG, Germany. The Company is registered under Special Economic Zone scheme of the government.
FIXED ASSETS:
Tangible Assets
· Land
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Motor vehicles
· Office equipment
· Leasehold improvements
·
Computer equipment’s
Intangible Assets
·
Computer software
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 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 66.66 |
|
UK Pound |
1 |
INR 90.66 |
|
Euro |
1 |
INR 80.01 |
INFORMATION DETAILS
|
Information
Gathered by : |
TEJ |
|
|
|
|
Analysis Done by
: |
VIK |
|
|
|
|
Report Prepared
by : |
ARC |
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 opera tions 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.