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|
MIRA INFORM REPORT
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Report No. : |
507202 |
|
Report Date : |
05.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
INSTAREM INDIA PRIVATE LIMITED |
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|
|
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Registered
Office : |
1201-1205, B-Wing, Kanakia Wall Street, Chakala Hanuman
Nagar, Andheri Kurla Road, Andheri (East), Mumbai – 400059, Maharashtra |
|
Mobile No.: |
91-9820555010 (Mr. Prajit Punathil Nanu) |
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|
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
05.03.2015 |
|
|
|
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Com. Reg. No.: |
11-262511 |
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|
|
|
Capital
Investment / Paid-up Capital : |
INR 0.100 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999MH2015FTC262511 |
|
|
|
|
IEC No.: [Import-Export
Code No.] |
Not Divulged |
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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.] |
AADCI7566B |
|
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|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Providing outsourcing services for all processes,
sub-processes, transactions, activities and all other work performed and
Support services such as Finance and Accounting, Compliance, Risk and Fraud
monitoring and Technology Support. [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 |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of InstaRem Pte Limited, Singapore. It is a
relatively new company incorporated in the year 2015 having satisfactory
track record. For the financial year ended 2017, the company has witnessed a healthy
growth in its revenue and has achieved good profit margin at 10.34% (approx.) Rating also takes into consideration company’s sound financial profile
marked by decent net worth base along with debt free balance sheet and
favourable gap between trade payables to its trade receivables. Further, the company derives strength from its holding entity and its
experienced management team. However, the rating strength is partially offset by company’s short
track record of business operation. Trade relations are reported as fair. Business is active. Payment
terms are seems to be usually correct and as per commitments. In view of the 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.
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
31-03-2018.
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 05.05.2018
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 DENIED BY
|
Name : |
Mr. Prajit Punathil Nanu |
|
Designation : |
Director |
|
Contact No.: |
91-9820555010 |
|
Date : |
04.05.2018 |
LOCATIONS
|
Registered Office : |
1201-1205, B-Wing, Kanakia Wall Street, Chakala Hanuman
Nagar, Andheri Kurla Road, Andheri (East), Mumbai – 400059, Maharashtra,
India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9820555010 (Mr. Prajit Punathil Nanu) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Siddharth Vijay Panikar |
|
Designation : |
Director |
|
Address : |
B55/529, M.I.G. Colony, Gandhi Nagar, Bandra East, Mumbai
-400051, Maharashtra, India |
|
Date of Appointment : |
05.03.2015 |
|
DIN No.: |
00242508 |
|
|
|
|
Name : |
Mr. Mahesh Khemraj Koirala |
|
Designation : |
Director |
|
Address : |
302/303, Wing-A, Kia Part Housing Society Prathmesh Comp,
Veera Desai Road, Andheri (West), Mumbai - 400053, Maharashtra, India |
|
Date of Birth/Age : |
22.02.1970 |
|
Date of Appointment : |
26.03.2015 |
|
DIN No.: |
05328344 |
|
|
|
|
Name : |
Mr. Prajit Punathil Nanu |
|
Designation : |
Director |
|
Address : |
17 Evelyn Road # 19 05 Singapore 309306 SG |
|
Date of Appointment : |
05.03.2015 |
|
DIN No.: |
07035356 |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
InstaRem Pte Limited, Singapore |
|
9999 |
|
Siddharth Vijay Panikar (Nominee of InstaRem Pte
Limited, Singapore) |
|
1 |
|
Total |
|
10000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2017
|
Category |
Percentage |
|
Promoters- Body corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing outsourcing services for all processes,
sub-processes, transactions, activities and all other work performed and
Support services such as Finance and Accounting, Compliance, Risk and Fraud
monitoring and Technology Support. [Registered Activity] |
||||
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Products / Services
: |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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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 : |
|
|
Auditors : |
|
|
Name : |
Varma and Varma Chartered Accountants |
|
Address : |
101, Option Primo, Plot No: X-21, Andheri East, Mumbai – 400093,
Maharashtra,
India |
|
Tel. No.: |
91-22-28395837 |
|
E-Mail : |
|
|
PAN N Income-tax PAN of auditor or auditor's firm : |
ABTPK4831D |
|
|
|
|
Memberships : |
Not Available |
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|
|
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Collaborators : |
Not Available |
|
|
|
|
Holding Company: |
|
CAPITAL STRUCTURE
AFTER 30.09.2017
Authorised Capital : INR 6.000 Million
Issued, Subscribed & Paid-up Capital : INR 1.500 Million
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
INR 10/- each |
INR 0.100 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
INR 10/- each |
INR 0.100 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
0.100 |
0.100 |
|
(b) Reserves &
Surplus |
|
6.680 |
1.347 |
|
(c) Money received
against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
|
0.000 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
|
6.780 |
1.447 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax
liabilities (Net) |
|
1.382 |
0.412 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
1.382 |
0.412 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
0.000 |
0.500 |
|
(b) Trade payables |
|
1.662 |
0.204 |
|
(c) Other current
liabilities |
|
1.295 |
3.804 |
|
(d) Short-term provisions |
|
0.237 |
0.183 |
|
Total Current Liabilities
(4) |
|
3.194 |
4.691 |
|
|
|
|
|
|
TOTAL |
|
11.356 |
6.550 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
1.889 |
0.357 |
|
(ii) Intangible Assets |
|
0.890 |
0.000 |
|
(iii) Capital
work-in-progress |
|
0.150 |
0.000 |
|
(iv) Intangible assets
under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
|
0.304 |
0.116 |
|
(d) Long-term Loan and Advances |
|
1.102 |
0.502 |
|
(e) Other Non-current
assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
4.335 |
0.975 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
0.000 |
0.000 |
|
(c) Trade receivables |
|
3.527 |
0.000 |
|
(d) Cash and cash
equivalents |
|
3.140 |
5.563 |
|
(e) Short-term loans and
advances |
|
0.287 |
0.001 |
|
(f) Other current assets |
|
0.067 |
0.011 |
|
Total Current Assets |
|
7.021 |
5.575 |
|
|
|
|
|
|
TOTAL |
|
11.356 |
6.550 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
|
51.579 |
14.703 |
|
|
Other Income |
|
1.103 |
0.041 |
|
|
TOTAL |
|
52.682 |
14.744 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Employees benefits
expense |
|
34.148 |
9.063 |
|
|
Other expenses |
|
9.614 |
3.499 |
|
|
TOTAL |
|
43.762 |
12.562 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
|
8.920 |
2.182 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
|
0.020 |
0.001 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
|
8.900 |
2.181 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
1.089 |
0.223 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
|
7.811 |
1.958 |
|
|
|
|
|
|
|
Less |
TAX |
|
2.477 |
0.611 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
|
5.334 |
1.347 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
533.37 |
134.65 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
|
31.03.2017 |
31.03.2016 |
|
Current Maturities of Long term debt |
|
NA |
NA |
|
|
|
|
|
|
Cash generated from operations |
|
3.964 |
6.232 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
|
1.299 |
5.504 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
|
24.96 |
0.00 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
|
14.62 |
0.00 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
|
0.00 |
0.00 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
|
0.00 |
0.00 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
|
3.05 |
6.11 |
LEVERAGE RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
|
0.28 |
0.72 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
|
0.00 |
0.35 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
|
0.47 |
3.24 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
|
0.43 |
0.25 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
|
446.00 |
2182.00 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
|
31.03.2017 |
31.03.2016 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
|
10.34 |
9.16 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
|
46.97 |
20.56 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
|
78.67 |
93.09 |
SOLVENCY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
Current Ratio (Current
Assets / Current Liabilities) |
|
2.20 |
1.19 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
|
2.20 |
1.19 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
|
0.60 |
0.22 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
|
0.00 |
5.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
|
2.20 |
1.19 |
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 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
|
Share Capital |
0.100 |
0.100 |
|
Reserves & Surplus |
1.347 |
6.680 |
|
Share Application money pending allotment |
0.000 |
0.000 |
|
Net
worth |
1.447 |
6.780 |
|
|
|
|
|
Long Term borrowings |
0.000 |
0.000 |
|
Short Term borrowings |
0.500 |
0.000 |
|
Total
borrowings |
0.500 |
0.000 |
|
Debt/Equity
ratio |
0.346 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
|
Sales
|
14.703 |
51.579 |
|
|
|
250.806 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
|
Sales
|
14.703 |
51.579 |
|
Profit |
1.347 |
5.334 |
|
|
9.16% |
10.34% |
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 |
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 two years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last two 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 |
INDEX OF CHARGE: No Charges Exists for Company
CORPORATE INFORMATION
Subject was incorporated on 5th March, 2015. It is 100% held by Instarem PTE Limited, Singapore. The Company was incorporated with the object of providing outsourcing services for all processes, sub-processes, transactions, activities and all other work performed and Support services such as Finance and Accounting, Compliance, Risk and Fraud monitoring and Technology Support.
UNSECURED LOANS:
|
Particulars |
31.03.2017 INR In Million |
31.03.2016 INR In Million |
|
SHORT TERM BORROWINGS |
|
|
|
Loan from
directors |
0.000 |
0.500 |
|
Total |
0.000 |
0.500 |
FIXED ASSETS:
Tangible Assets
- Furniture and Fixtures
- Office Equipment
- Computers Equipment
Intangible Assets
- Software
PRESS RELEASE
INSTAREM TIES UP WITH
DCB BANK TO OFFER OUTWARD REMITTANCES
APRIL 2, 2018
Mumbai, Apr 2 () Digital cross-border remittances services provider Instarem, which received RBI nod to launch outbound money transfers last September, has tied up with DCB Bank to launch operations from here.
The Singapore-based firm offers services in eight markets now including India, Australia, Singapore and Malaysia among others with an annually billing of around USD 2 billion in volume, on which it charges a flat 0.5 per cent of the transferred amount as it service charges.
According to the company, this is much cheaper than banks and other similar operators, which charge around 3 per cent as forex charges over and above INR 1,000-1,500 as transaction fee.
It entered Europe with operations from Lithuania last month and is on course to enter the US soon.
Since beginning of operations in August 2015, it has raised USD 18 million in two rounds of funding from marquee investor like Global Founders Capital, Vertex Ventures (VC arm of the Singapore sovereign fund Temasek Holdings), Fullerton Financial Holdings, GSR Ventures and SBI-FMO Emerging Asia Financial Sector Fund. Temasek owns a 30 per cent stake.
Instarem is licensed as a money services business in Singapore, Hong Kong, Australia, Malaysia, India, Canada and the US and powers local payments to over 55 countries.
Chief executive officer Prajit Nanu claimed that according to the World Bank, theirs is one of the cheapest services in terms of fees the company follows a zero-margin forex rate model.
"We've received the Reserve Bank permission to operate as an outbound money transfer services provider last September. Accordingly, we have launched the services in partnership with DCB Bank today," Nanu told here today.
Instarem co-promoted by Mumbai-bred Nanu along with an American, is one of the first non-banking entities to offer outward remittances service from the country, he said.
Nanu said the company is looking to go public in 2020 and will turn profitable in from early 2019. He said they employ 150 people of which 100 are based in Mumbai alone.
He said one of his focus areas in the operations here will be students who are going for overseas studies apart from others who are looking for leisure, medical, entertainment- related activities overseas.
"Traditional ways of transferring money via banks and money transfer operators have been expensive due to high transfer charges along with hidden fees that are not known to customers," he said.
Praveen Kutty, head of retail and SME banking at DCB Bank said Instarem is disrupting international money transfer business with its innovative digital platform and zero-margin forex rate model.
The World Bank estimates the average cost of cross- border remittances at 7.09 per cent of the amount sent globally. In contrast, Instarem effects overseas money transfers at mid-market forex rate-a midpoint between the 'buy' and 'sell' rates of currencies in the forex markets- sourced directly from the open market, and adds no margins to forex conversion rates.
"With our zero-margin forex positioning, superior platform and customer service, we are confident of capturing a substantial market of the outbound money transfers from here," Nanu said. BEN SS SS
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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 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 66.77 |
|
|
1 |
INR 90.58 |
|
Euro |
1 |
INR 79.97 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHL |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
KVT |
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.