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MIRA INFORM REPORT
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Report No. : |
506789 |
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Report Date : |
05.05.2018 |
IDENTIFICATION DETAILS
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Name : |
MTU INDIA PRIVATE LIMITED (w.e.f. 25.05.2007) |
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Formerly Known
As : |
MTU DETROIT DIESEL INDIA PRIVATE LIMITED (w.e.f 29.04.2002) DETROIT DIESEL INDIA PRIVATE LIMITED |
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Registered
Office : |
H M Geneva House Unit No. 303, 3rd Floor No 14, Cunningham Road, Bangalore – 560052, Karnataka |
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Tel. No.: |
91-80-67739000 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
06.06.2000 |
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Com. Reg. No.: |
08-027209 |
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Capital
Investment / Paid-up Capital : |
INR 2.500 Million |
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CIN No.: [Company Identification
No.] |
U35914KA2000PTC027209 |
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IEC No.: [Import-Export Code No.] |
0700012150 |
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PAN No.: [Permanent Account No.] |
AABCD2233N |
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TIN/CST No.: |
27770533849 |
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GSTN : [Goods & Service Tax
Registration No.] |
29AABCD2233N1ZK |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
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No. of Employees
: |
200 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Maximum Credit Limit : |
USD 1250000 |
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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 acts as a subsidiary of “MTU Asia Pte Limited, Singapore” incorporated in the year 2000 having a good track record. The subject is engaged as seller and distributor of diesel engines and spare parts and components. For the financial year 2017, the company has achieved decent growth in its revenue compared to its previous year but has maintained a fair profitability. Rating takes into consideration, the healthy financial risk profile marked by adequate net worth base and strong debt protection metrics. Rating continue to derive strength from its established track record of its business operation backed by its considerable experience of its management team along with strong financial support from its holding entity. However, ratings strengths are partially offset by exposure to intense competition in automobile industry Payment seems to be regular In view of aforesaid, the company can be considered for business dealing at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
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Rating |
Not Available |
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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
31-03-2018.
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 PARTED BY
|
Name : |
Mr. Shajan |
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Designation : |
Assistant Manager |
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Contact No.: |
91-80-41151302 |
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Date : |
03.05.2018 |
LOCATIONS
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Registered
Office/(Bangalore Regional Sales Office 1) : |
H M Geneva House Unit No. 303, 3rd Floor No 14, Cunningham Road, Bangalore – 560052, Karnataka, India |
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Tel. No.: |
91-80-67739000 / 41151302 |
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Fax No.: |
91-80-67739010 |
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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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Pune Headquarters /
Research Centre 1: |
159 / 1, Tathawade, Pune - Mumbai Highway, Pune- 411033, Maharashtra, India |
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Tel. No.: |
91-20-67209200 |
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Fax No.: |
91-20-67209299 / 67209234 |
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EARC Division / Engineering and Research Centre 2: |
ICC-Devi Gaurav Technology Park, 4th Floor, Unit No 401,
South Block, |
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Tel. No.: |
91-20-67152600 |
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Fax No.: |
91-20-67152666 |
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New Delhi Regional
Sales Office 2: |
11th Floor, Eros Corporate Tower, Nehru Place, New Delhi - 110 019, India |
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Tel. No.: |
91-11-30003121 |
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Fax No.: |
91-11-30003130 |
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Mumbai Regional
Sales Office 3: |
Regus, Level 13, Platinum Techno Park 17 and 18, Sector -30, Vashi, Navi Mumbai -400 703, Maharashtra, Inida |
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Tel. No.: |
91-22- 61214949 |
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Fax No.: |
91-22-61214950 |
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Singrauli Field
Service Office) |
Navjeevan Vihar, Sector No- 3, Plot No- 11, Post Office – Vindhyanagar, Singrauli - 486885, Madhya Pradesh, India |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Praveen Mohan |
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Designation : |
Director |
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Address : |
No. 38, Near Om Shakthi Temple, Chinnappana Halli,Marathalli Post, Bangalore-560037, Karnataka, India |
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Date of Birth/Age : |
14.10.1973 |
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Date of Appointment : |
29.11.2013 |
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PAN No.: |
AFFPM0632Q |
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DIN No.: |
06754926 |
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Name : |
Mr. Shovan Biswas |
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Designation : |
Director |
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Address : |
16 Chestnut Gardens, Singapore, 679241, Singapore |
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Date of Birth/Age : |
01.07.1971 |
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Date of Appointment : |
20.01.2014 |
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DIN No.: |
06811373 |
KEY EXECUTIVES
|
Name : |
Mr. Shajan |
|
Designation : |
Assistant Manager |
MAJOR SHAREHOLDERS
As on 28.09.2017
|
Names of Shareholders |
No. of Shares |
|
MTU Asia Pte Limited |
249998 |
|
MTU Friedrichshafen GmbH |
2 |
|
Total |
250000 |
Equity Share Break up (Percentage of Total Equity)
As on 28.09.2017
|
Category |
Percentage |
|
Promoters (Body corporate) |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
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Products / Services
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Brand Names : |
Not Available |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Advance Payment, Cash |
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Purchasing : |
Advance Payment, Cash |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Retailers, End Users
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No. of Employees : |
200 (Approximately) |
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Bankers : |
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Auditors : |
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Name : |
B S R and Associates LLP Chartered Accountants |
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Address : |
Plot 24, "Mohar", Chintamani Nagar, Parvati, Pune-411009, Maharashtra, India |
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Income-tax
PAN of auditor or auditor's firm : |
AADFB6889R |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding company: |
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Ultimate Holding Company: |
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Fellow Subsidiary Companies: |
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Other relates
party: |
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CAPITAL STRUCTURE
As on 28.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000 |
Equity Shares |
INR 10/- each |
INR 2.500 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
250000 |
Equity Shares |
INR 10/- each |
INR 2.500 Million |
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FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
2.500 |
2.500 |
2.500 |
|
(b) Reserves & Surplus |
436.024 |
371.112 |
290.720 |
|
(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) |
438.524 |
373.612 |
293.220 |
|
|
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|
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(3)
Non-Current Liabilities |
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|
|
|
(a) long-term borrowings |
35.000 |
57.533 |
51.690 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
1.406 |
5.635 |
5.839 |
|
(d) long-term
provisions |
53.150 |
40.937 |
29.712 |
|
Total Non-current
Liabilities (3) |
89.556 |
104.105 |
87.241 |
|
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(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
20.000 |
11.372 |
7.659 |
|
(b) Trade payables |
271.742 |
130.929 |
207.202 |
|
(c) Other
current liabilities |
77.549 |
26.445 |
29.601 |
|
(d) Short-term
provisions |
34.610 |
22.487 |
32.481 |
|
Total Current
Liabilities (4) |
403.901 |
191.233 |
276.943 |
|
|
|
|
|
|
TOTAL |
931.981 |
668.950 |
657.404 |
|
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|
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II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
134.572 |
80.021 |
116.496 |
|
(ii)
Intangible Assets |
0.709 |
1.062 |
0.833 |
|
(iii) Capital
work-in-progress |
0.000 |
6.258 |
0.000 |
|
(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) |
60.763 |
52.271 |
41.948 |
|
(d) Long-term Loan and Advances |
32.540 |
32.689 |
33.266 |
|
(e) Other
Non-current assets |
0.270 |
0.125 |
0.125 |
|
Total Non-Current
Assets |
228.854 |
172.426 |
192.668 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
327.114 |
159.883 |
133.706 |
|
(c) Trade
receivables |
190.010 |
178.210 |
249.018 |
|
(d) Cash
and cash equivalents |
44.607 |
52.122 |
27.061 |
|
(e)
Short-term loans and advances |
34.769 |
32.124 |
30.583 |
|
(f) Other
current assets |
106.627 |
74.185 |
24.368 |
|
Total
Current Assets |
703.127 |
496.524 |
464.736 |
|
|
|
|
|
|
TOTAL |
931.981 |
668.950 |
657.404 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
1509.730 |
1383.641 |
1049.847 |
|
|
Other Income |
28.233 |
4.743 |
22.057 |
|
|
TOTAL |
1537.963 |
1388.384 |
1071.904 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Purchases of
Stock-in-Trade |
1059.587 |
827.544 |
616.943 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(167.230) |
(26.177) |
(47.113) |
|
|
Employees benefits
expense |
232.920 |
190.609 |
170.441 |
|
|
Other expenses |
269.688 |
219.740 |
216.053 |
|
|
CSR Expenditure |
1.454 |
1.004 |
0.000 |
|
|
TOTAL |
1396.419 |
1212.720 |
956.324 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
141.544 |
175.664 |
115.580 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
3.003 |
6.465 |
2.558 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
138.541 |
169.199 |
113.022 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
43.923 |
45.131 |
49.935 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
94.618 |
124.068 |
63.087 |
|
|
|
|
|
|
|
Less |
TAX |
29.705 |
43.676 |
18.475 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
64.913 |
80.392 |
44.612 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
Sale of spares (net of
returns) |
21.376 |
47.324 |
75.103 |
|
|
Sale of engines |
0.000 |
3.811 |
0.000 |
|
|
Service income |
33.642 |
22.485 |
34.278 |
|
|
Engineering and research
income |
170.050 |
135.312 |
123.865 |
|
|
Commission on indent
sales |
52.759 |
83.805 |
122.289 |
|
|
Service Charges - Global
purchasing office |
15.038 |
14.481 |
12.986 |
|
|
Service Charges - Defense |
2.198 |
2.215 |
2.276 |
|
|
Service -Business intelligence
and development |
0.070 |
0.000 |
0.000 |
|
|
TOTAL EARNINGS |
295.133 |
309.433 |
370.797 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Capital Goods |
59.695 |
2.189 |
10.728 |
|
|
TOTAL IMPORTS |
59.695 |
2.189 |
10.728 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
259.65 |
321.57 |
178.45 |
|
Particulars |
|
|
31.03.2018 |
|
Sales Turnover (Approximately) |
|
|
1700.000 (due to business
growth) |
The above information has been parted by Mr. Shajan (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 |
53.168 |
0.000 |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
86.625 |
79.553 |
52.281 |
|
Net cash flows from (used in) operating activity |
46.337 |
32.362 |
30.580 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
45.94 |
47.01 |
86.58 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
7.95 |
7.76 |
4.22 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
93.61 |
57.75 |
122.59 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.43 |
1.10 |
0.86 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
1.05 |
2.01 |
0.99 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.53 |
0.37 |
0.50 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.25 |
0.18 |
0.20 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.92 |
0.51 |
0.94 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.31 |
0.23 |
0.40 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
47.13 |
27.17 |
45.18 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
4.30 |
5.81 |
4.25 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
6.97 |
12.02 |
6.79 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
14.80 |
21.52 |
15.21 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.74 |
2.60 |
1.68 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.93 |
1.76 |
1.20 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.47 |
0.56 |
0.45 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
43.27 |
27.56 |
23.74 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.74 |
2.60 |
1.68 |
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 |
2.500 |
2.500 |
2.500 |
|
Reserves & Surplus |
290.720 |
371.112 |
436.024 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
293.220 |
373.612 |
438.524 |
|
|
|
|
|
|
long-term borrowings |
51.690 |
57.533 |
35.000 |
|
Short term borrowings |
7.659 |
11.372 |
20.000 |
|
Total
borrowings |
59.349 |
68.905 |
55.000 |
|
Debt/Equity
ratio |
0.202 |
0.184 |
0.125 |
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 |
1049.847 |
1383.641 |
1509.730 |
|
|
|
31.795 |
9.113 |
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 |
1049.847 |
1383.641 |
1509.730 |
|
Profit |
44.612 |
80.392 |
64.913 |
|
|
4.25% |
5.81% |
4.30% |
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 |
Yes |
|
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 four 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 |
CORPORATE INFORMATION
/ BACKGROUND
The Company was incorporated on 6 June 2000 as Detroit Diesel India Private Limited ('DDIPL'), as a 100% subsidiary of Detroit Diesel Asia Pte. Limited, Singapore ('DDA').
Subsequent to numerous name changes and also change in the Company's holding company, MTU India Private Limited is a subsidiary of MTU Asia Pte. Limited, an entity registered in Singapore.
The Company is engaged in the business of marketing, sale and distribution of diesel engines and spare parts, including associated equipment and servicing of diesel engines.
The Company started a new division called Engineering and Research Centre (‘EARC’) in 2010 to provide IT related research and development support for MTU Friedrichshafen GmbH.
THE STATE OF COMPANY
AFFAIRS:
The Company has 3 divisions viz. Engine Sales and After Sales, Engineering and Research Centre and Global Purchasing Division, all of which are progressing satisfactorily. The Turnover of the company showed a satisfactory growth with Engine and Service showing healthy growth and parts segment showing steady performance. This is reflected in the turnover reaching INR 1537 Million as compared to INR 1388 Million during the previous year. Commission on Indent sales however showed a reduction due to lower scheduled deliveries of Engines. This, together with increase in expenses on account of higher wage bill, maintenance of machinery, IT infrastructure, professional services and travelling etc. resulted into Profit Before Tax at INR 94.600 Million as compared to INR 124.000 Million during the previous year. The company continued its endeavor to enter into new markets in order to ensure consistent and sustainable growth in the years to come.
UNSECURED LOAN
|
PARTICULAR |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Intercorporate borrowings |
35.000 |
0.000 |
|
Term loans from others |
0.000 |
57.533 |
|
|
|
|
|
Short-term
borrowings |
|
|
|
Intercorporate borrowings |
20.000 |
0.000 |
|
Other loans and advances |
0.000 |
11.372 |
|
|
|
|
|
Total |
55.000 |
68.905 |
INDEX
OF CHARGES: NO CHARGES EXISTS FOR COMPANY
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
Claims against the Company not acknowledged as debts (#) |
|
|
|
(i) Income tax - Transfer pricing |
*17.140 |
**41.399 |
|
(ii) Bank guarantees to government authorities and others |
40.263 |
0.000 |
|
Total |
57.403 |
41.399 |
|
# (excludes consequential interest and penalties, if any) |
|
|
|
Note: *During the current year, the Company has received draft assessment order making an adjustment to the total income of the Company of INR 57.606 million (the estimated tax impact, excluding interest and penalty, if any amounting to INR 19.936 million) on account of transfer pricing adjustment. The Company has approached the Dispute Resolution Panel ('DRP') objecting the proposed adjustment. '** During the previous year, the Company had received draft assessment order making an adjustment to the total income of the Company of INR 127,599,014 (the estimated tax liability amounting to INR 41,399,500) on account of transfer pricing adjustment and INR 0.220 million on account of interest u/s 244A. The Company had approached the Dispute Resolution Panel ('DRP') objecting the proposed adjustment. The Company is contesting the demands and the management believes that its position will likely be upheld in the appellate process. Tax expense has been accrued in the financial statements for the tax demands raised relevant to amounts to INR 2.796 million (2016: INR 2.405 million). The management believes that the ultimate outcome of this proceeding will not have a material adverse effect on the Company's financial position and results of operations. |
|
|
FIXED ASSETS
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Motor vehicles
- Office equipment
- Computer equipment’s
- Leasehold improvements
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 66.66 |
|
|
1 |
INR 90.66 |
|
Euro |
1 |
INR 80.00 |
INFORMATION DETAILS
|
Information
Gathered by : |
RUB |
|
|
|
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
RKI |
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.