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|
MIRA INFORM REPORT
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Report No. : |
510873 |
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Report Date : |
26.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
TOTAL OIL INDIA PRIVATE LIMITED (w.e.f. 12.03.2010) |
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|
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|
Formerly Known
As : |
TOTAL OIL INDIA LIMITED (w.e.f. 04.12.2009) TOTAL LPG INDIA LIMITED (w.e.f. 24.06.2008) ELF GAS INDIA LIMITED |
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Registered
Office : |
3rd Floor, The Leela Galleria, Andheri Kurla Road, Andheri
(East), Mumbai – 400059, Maharashtra |
|
Tel. No.: |
91-22-67232500 |
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Country : |
India |
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Financials (as
on) : |
31.12.2017 |
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Date of
Incorporation : |
09.01.1996 |
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Com. Reg. No.: |
11-194631 |
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Capital
Investment / Paid-up Capital : |
INR 271.800 Million |
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CIN No.: [Company Identification
No.] |
U23203MH1996PTC194631 |
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IEC No.: [Import-Export Code No.] |
0309070392 |
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GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
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TIN 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.] |
AAACE2175M |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in Importing and Reselling Liquefied Petroleum Gas (‘LPG’) and certain solvents (special fluids) and Manufacturing and Marketing of industrial and automotive lubricants, certain solvents (special fluids) and modified value added bitumen. The Company also provides business strategy services in the areas of marketing, production and research functions to its parent company, support services and marketing support services with respect to the products of its group companies. [Registered Activity] |
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|
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No. of Employees
: |
Information denied by the Management |
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+ |
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 “Total Marketing Services”, France. The company was incorporated in the year 1996. It is engaged in importing of LPG and LPG Appliances for Domestic use as well as industrial and commercial used and engaged in manufacturing and marketing of Liquefied Petroleum Gas Stoves, Cylinders, Regulators and other associated appliances. For the financial year 2017, the company has achieved 10.61% growth in its revenue as compared to the previous year revenue along with average profit margin of 4.83%. The sound financial profile of the company is marked by healthy networth base and negligible debt level along with favourable gap between trade payables and trade receivables. The company has favourable Earning per Share (EPS) of INR 40.1 against a face value (FV) of INR 10. The rating takes into consideration strong financial and managerial support that the company receives from its holding entity backed by its well experienced management team. The rating also takes into consideration the subject’s long established track record of the business operations along with extensive experience of its promoters. Business is active. Payment seems to be regular. In view of 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 26.05.2018.
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 DECLINED
MANAGEMENT NON-COOPERATIVE
[Contact No: 91-22-67232500]
Given number [91-22-66407700] does not exist
LOCATIONS
|
Registered Office : |
3rd Floor, The Leela Galleria, Andheri Kurla Road, Andheri (East),
Mumbai – 400059, Maharashtra, India |
|
Tel. No.: |
91-22-67232500 |
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Fax No.: |
91-22-67232600 |
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E-Mail : |
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Website : |
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Corporate Office : |
#138, Ground & First Floor, Raheja Paramount,
Residency Road, Bangalore- 560 025, Karnataka, India |
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Tel. No.: |
91-80-42730000-05 |
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Branch Offices: |
Located at: · Bangalore · Cochin · Hyderabad · Chennai · Coimbatore · Pune |
DIRECTORS
AS ON: 2018
|
Name : |
Mr. Dilip Uttam Vaswani |
|
Designation : |
Managing Director |
|
Address : |
Flat No. 501/502, Gym View, Plot No. 658, 16th Road, Tpsiii, Khar (West), Mumbai - 400052, Maharashtra, India |
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Date of Birth/Age : |
18.12.1955 |
|
Qualification : |
B. Sc (hons) |
|
Experience : |
38 Years |
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Date of Appointment : |
01.07.2016 |
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PAN No.: |
AACPV0426D |
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DIN No.: |
01944741 |
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|
|
|
Name : |
Mr. Prakash Jonnalagadda |
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Designation : |
Wholetime Director |
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Address : |
Total Oil India Private Limited, No138 Ground Floor, Raheja Paramount Resi Dency Road, Bangalore - 560025, Karnataka, India |
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Date of Birth/Age : |
04.08.1961 |
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Qualification : |
B. Tech Chemical |
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Experience : |
33 Years |
|
Date of Appointment : |
01.08.2009 |
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PAN No.: |
AMKPJ5488K |
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DIN No.: |
02753687 |
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|
|
|
Name : |
Christian Jean Claude Cabrol |
|
Designation : |
Director |
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Address : |
15, Sommerville Estate Road, Singapore 258022 SG |
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Date of Birth/Age : |
18.11.1962 |
|
Qualification : |
Engineering |
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Date of Appointment : |
04.12.2017 |
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DIN No.: |
07994963 |
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|
|
|
Name : |
Stephane Lagrue |
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Designation : |
Director |
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Address : |
1lady Hill Road, #04-11, Singapore 258670 SG |
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Date of Birth/Age : |
18.02.1956 |
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Qualification : |
Post Graduate (Master Equivalent) |
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Date of Appointment : |
30.06.2014 |
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DIN No.: |
06891010 |
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|
|
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Name : |
Mr. Claude Jean Andre Le Damany |
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Designation : |
Whole-time Director |
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Address : |
Apartment No 191, 19th Floor, Tower 2, Pebble Bay, A-II, 1st Main, Rmv 2nd Stage, Bangalore - 560094, Karnataka, India |
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Date of Birth/Age : |
08.04.1961 |
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Qualification : |
Master Degree |
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Date of Appointment : |
17.09.2014 |
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PAN No.: |
AMLPL7791A |
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DIN No.: |
06974014 |
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|
|
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Name : |
Emmanuel Bernard De Fournas De La Brosse |
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Designation : |
Director |
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Address : |
Avenue Brugmann 127 1190 Bruxelles, Belgique 1020 FR |
|
|
07.07.1966 |
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Qualification : |
Master Degree in Law |
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Date of Appointment : |
09.11.2015 |
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DIN No.: |
07303211 |
KEY EXECUTIVES
|
Name : |
Mr. Bhagwanchand Premchand Rajput |
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Designation : |
Company Secretary |
|
Address : |
C/211 Rishabh Enclave CHS Limited, Behind Santok Talkies Moti Nagar, Behind Ambe Mandir, Thane - 401101, Maharashtra, India |
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Date of Birth/Age : |
12.08.1976 |
|
Qualification : |
CS, Masters degree in Law |
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Date of Appointment : |
01.12.2012 |
|
PAN No.: |
AHWPR1381G |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 29.03.2018
|
Names of Shareholders (Class
A) |
|
No. of Shares |
|
Total Holding Asie, France |
|
8894387 |
|
Total Marketing Services, France |
|
8544656 |
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|
|
|
|
Total |
|
17439043 |
|
Names of Shareholder (Class
B) |
|
No. of Shares |
|
Total Marketing Services, France |
|
9742126 |
|
|
|
|
|
Total |
|
9742126 |
AS ON: 29.03.2018
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
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Promoters – Body Corporate |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in Importing and Reselling Liquefied Petroleum Gas (‘LPG’) and certain solvents (special fluids) and Manufacturing and Marketing of industrial and automotive lubricants, certain solvents (special fluids) and modified value added bitumen. The Company also provides business strategy services in the areas of marketing, production and research functions to its parent company, support services and marketing support services with respect to the products of its group companies. [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
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the Management |
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Bankers : |
· The Hong Kong and Shanghai Banking Corporation Limited M.G. Road, Fort, Mumbai - 400001, Maharashtra, India · BNP Paribas Bank French Bank Building, 62, Homji street, Fort, Mumbai - 400001, Maharashtra, India |
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Auditors : |
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Name : |
S R B C and Company LLP Chartered Accountants |
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Address : |
14th Floor, The Ruby, 29, Senapati Bapat Marg, Dadar (W), Mumbai-400028, Maharashtra, India |
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PAN
No : |
ACHFS9117R |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding Company : |
Total Marketing Services, France |
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Ultimate
Holding Company : |
Total SA, France |
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Associate Companies
: |
·
Arteco Coolants India Private
Limited, India [U24233MH2010PTC201618] · Arteco NV · S Oil Total Lubricants Co. Limited · South Asia LPG Company Private limited, India [U11101AP1999PTC032851] · Total Petrochemicals Hongkong Limited · Total SA · Total (Philippines) Corporation · Total Belgium S.A · Total Facilities Management Services · Total Fluides · Total Gestion Internatinale · Total Global Human Resources · Total Global Procurement · Total Holding Asie · Total Learning Solutions · Total Lubrifants · Total Oil Thailand · Total Projects India Private Limited, India [U74899DL2001PTC130189] · Total Trading Asia Pte Limited · Total Oil Asia Pacafic Pte Limited ·
Totsa Total Oil Trading SA |
CAPITAL STRUCTURE
AS ON: 31.12.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
145000000 |
Equity Shares (Class A) |
INR 10/- each |
INR 1450.000 Million |
|
15000000 |
Equity Shares (Class B) |
INR 10/- each |
INR 150.000 Million |
|
|
Total |
|
INR 1600.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
17439043 |
Equity Shares (Class A) |
INR 10/- each |
INR 174.390 Million |
|
9742126 |
Equity Shares (Class B) |
INR 10/- each |
INR 97.421 Million |
|
|
Total |
|
INR 271.811 Million |
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.12.2017 |
31.12.2016 |
31.12.2015 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
271.800 |
271.800 |
271.800 |
|
(b) Reserves & Surplus |
3507.500 |
3284.600 |
3301.800 |
|
(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) |
3779.300 |
3556.400 |
3573.600 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
70.700 |
34.800 |
50.600 |
|
(c)
Other long term liabilities |
14.100 |
504.800 |
423.000 |
|
(d)
long-term provisions |
63.900 |
54.500 |
45.200 |
|
Total
Non-current Liabilities (3) |
148.700 |
594.100 |
518.800 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
537.100 |
362.900 |
537.200 |
|
(b)
Trade payables |
3111.400 |
1798.700 |
1542.100 |
|
(c)
Other current liabilities |
1518.300 |
1065.400 |
983.700 |
|
(d)
Short-term provisions |
37.500 |
467.300 |
374.400 |
|
Total
Current Liabilities (4) |
5204.300 |
3694.300 |
3437.400 |
|
|
|
|
|
|
TOTAL |
9132.300 |
7844.800 |
7529.800 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
2606.800 |
2380.800 |
2299.900 |
|
(ii)
Intangible Assets |
0.100 |
0.400 |
0.900 |
|
(iii)
Capital work-in-progress |
634.100 |
542.500 |
174.900 |
|
(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 |
658.200 |
734.900 |
496.700 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
3899.200 |
3658.600 |
2972.400 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
2492.700 |
2238.700 |
2563.000 |
|
(c)
Trade receivables |
1875.600 |
1705.600 |
1714.800 |
|
(d)
Cash and cash equivalents |
46.600 |
0.100 |
43.400 |
|
(e)
Short-term loans and advances |
818.200 |
241.800 |
236.200 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
5233.100 |
4186.200 |
4557.400 |
|
|
|
|
|
|
TOTAL |
9132.300 |
7844.800 |
7529.800 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.12.2017 |
31.12.2016 |
31.12.2015 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
22527.600 |
20367.400 |
20027.300 |
|
|
|
Other Income |
108.400 |
92.600 |
146.800 |
|
|
|
TOTAL |
22636.000 |
20460.000 |
20174.100 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
5806.500 |
5998.600 |
5720.000 |
|
|
|
Purchases of Stock-in-Trade |
9348.500 |
7441.600 |
8306.600 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
6.100 |
147.300 |
(97.700) |
|
|
|
Employees benefits expense |
1127.400 |
1082.000 |
919.600 |
|
|
|
CSR Expenditure |
22.700 |
18.800 |
15.400 |
|
|
|
Other expenses |
4273.600 |
4027.900 |
3500.300 |
|
|
|
TOTAL |
20584.800 |
18716.200 |
18364.200 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
2051.200 |
1743.800 |
1809.900 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
31.000 |
90.900 |
50.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
2020.200 |
1652.900 |
1759.800 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
368.400 |
314.200 |
285.900 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
1651.800 |
1338.700 |
1473.900 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
563.100 |
457.900 |
535.700 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
1088.700 |
880.800 |
938.200 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings [FOB basis] |
117.800 |
122.200 |
86.100 |
|
|
TOTAL EARNINGS |
117.800 |
122.200 |
86.100 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
2165.200 |
2079.300 |
2440.100 |
|
|
|
Stores & Spares |
7543.300 |
5976.700 |
0.000 |
|
|
|
Capital Goods |
100.900 |
44.700 |
7144.400 |
|
|
TOTAL IMPORTS |
9809.400 |
8100.700 |
9584.500 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (INR) |
40.10 |
32.40 |
34.50 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.12.2017 |
31.12.2016 |
31.12.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
|
|
|
|
|
Net cash flows from (used in) operations |
1872.200 |
1338.700 |
1473.900 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
1411.900 |
1754.200 |
1549.000 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.12.2017 |
31.12.2016 |
31.12.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
30.39 |
30.57 |
31.25 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
12.01 |
11.94 |
11.68 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
74.94 |
48.85 |
40.13 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.82 |
0.78 |
0.71 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.63 |
0.60 |
0.73 |
LEVERAGE RATIOS
|
PARTICULARS |
31.12.2017 |
31.12.2016 |
31.12.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.57 |
0.47 |
0.46 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.14 |
0.10 |
0.15 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.38 |
1.04 |
0.96 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.86 |
0.82 |
0.69 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
66.17 |
19.18 |
36.13 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.12.2017 |
31.12.2016 |
31.12.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
4.83 |
4.32 |
4.68 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
11.92 |
11.23 |
12.46 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
28.81 |
24.77 |
26.25 |
SOLVENCY RATIOS
|
PARTICULARS |
31.12.2017 |
31.12.2016 |
31.12.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.01 |
1.13 |
1.33 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.53 |
0.53 |
0.58 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.41 |
0.45 |
0.47 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
1.98 |
1.34 |
1.98 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.01 |
1.13 |
1.33 |
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 |
31.12.2015 |
31.12.2016 |
31.12.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
271.800 |
271.800 |
271.800 |
|
Reserves & Surplus |
3301.800 |
3284.600 |
3507.500 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
3573.600 |
3556.400 |
3779.300 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
537.200 |
362.900 |
537.100 |
|
Total
borrowings |
537.200 |
362.900 |
537.100 |
|
Debt/Equity
ratio |
0.150 |
0.102 |
0.142 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.12.2015 |
31.12.2016 |
31.12.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
20027.300 |
20367.400 |
22527.600 |
|
|
|
1.698 |
10.606 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.12.2015 |
31.12.2016 |
31.12.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
20027.300 |
20367.400 |
22527.600 |
|
Profit |
938.200 |
880.800 |
1088.700 |
|
|
4.68% |
4.32% |
4.83% |
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 |
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 |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last one year |
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 |
INDEX OF CHARGES
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
B90268897 |
90213230 |
The Hongkong and Shanghai Banking Corporation Limited |
11/08/1998 |
17/07/2000 |
21/11/2013 |
192750000.0 |
M.G. ROADFORTMUMBAIMH400001IN |
|
2 |
B64946247 |
10178906 |
BNP Paribas |
31/08/2009 |
18/06/2012 |
07/12/2012 |
335000000.0 |
French Bank Building,62 Homji Street, Fort,MumbaiMH400001IN |
|
3 |
B43469014 |
80063459 |
BNP Paribas Bank |
25/11/2003 |
22/07/2011 |
11/07/2012 |
340000000.0 |
French Bank Building62, Homji street, FortMumbaiMH400001IN |
|
4 |
B43515246 |
10174939 |
Standard Chartered Bank |
18/08/2009 |
- |
04/07/2012 |
255000000.0 |
90, M G Road,Fort,MumbaiMH400001IN |
|
5 |
B21338439 |
10092898 |
BNP PARIBAS |
07/02/2008 |
04/08/2009 |
20/09/2011 |
60000000.0 |
FRENCH BANK BUILDING,62, HOMJI STREET, FORTMUMBAIMH400001IN |
|
6 |
Y10315303 |
90213404 |
SOCIETE GENERALE |
27/08/1999 |
- |
04/09/2002 |
7500000.0 |
MAKER CHAMBAERSNARIMAN POINTMUMBAIMH400021IN |
|
7 |
Y10312811 |
90210912 |
SOCIETE GENERALE |
19/11/1996 |
- |
04/09/2002 |
46500000.0 |
MAKER CHAMBAERSNARIMAN POINTMUMBAIMH400021IN |
|
8 |
Y10314865 |
90212966 |
SOCIETE GENERALE |
26/12/1995 |
- |
04/09/2002 |
46500000.0 |
MAKER CHAMBAERSNARIMAN POINTMUMBAIMH400021IN |
|
9 |
Y10314696 |
90212797 |
CREDIT AGRIOCOLE INDOSUEZ |
10/01/1996 |
- |
02/09/2002 |
56760000.0 |
RAMON HOUSEBACKBAY RECL.MUMBAIMH400020IN |
|
10 |
Y10315292 |
90213393 |
CREDIT AGRICOLE INDOSUE RAMON HOUSE |
30/07/1999 |
- |
02/09/2002 |
7500000.0 |
169; BACKBAY RECLAMAIONMUMBAIMH400020IN |
UNSECURED LOANS
|
PARTICULARS |
31.12.2017 (INR
In Million) |
31.12.2016 (INR
In Million) |
|
SHORT TERM BORROWINGS |
|
|
|
Other loans and advances, others |
537.100 |
362.900 |
|
|
|
|
|
Total |
537.100 |
362.900 |
BACKGROUND
Total Oil India Private Limited, (‘the Company’ or ‘TOIPL’) was incorporated under the provision of Companies Act, 1956 on 9 January 1996 as a public company with limited liability. The Company is a subsidiary of Total Marketing Services a subsidiary of TOTAL SA, France (the ultimate holding company).
At the Company’s Board meeting held on 24 December 2009, the Company applied to the Registrar of Companies (‘ROC’) for converting itself from a Public Company to a Private Company, which has been approved by the ROC on 31 December 2009.
The Company is engaged in importing and reselling Liquefied Petroleum Gas (‘LPG’) and certain solvents (special fluids) and manufacturing and marketing of industrial and automotive lubricants, certain solvents (special fluids) and modified value added bitumen. The Company also provides business strategy services in the areas of marketing, production and research functions to its parent company, support services and marketing support services with respect to the products of its group companies.
PERFORMANCE REVIEW:
LUBRICANTS BUSINESS
Year 2017 was marked by continued growth in all the key economic indicators – GDP growth, vehicle sales, fuel sales and manufacturing activity. The demand for automotive lubricants is driven by the usage of vehicles in the country, while the growth in the market in recent years has been due to the rapid expansion of vehicle population. Demand for Industrial lubricants has been observed to have a strong correlation with the Index of Industrial Production (IIP) which is largely propelled by the economic activity.
Lubricants business delivered a volume of 65,665 MT in the year 2017 against historical volume of 68,905 MT, a decline by 5% due to the double impact of Demonetization – November, 2016 and GST – July, 2017 respectively.
After Market distributors registered de-growth of 5%, Corporate Business registered de-growth of 12%, OEM-Factory fill registered de-growth of 3%, OEM SF registered de-growth of 12%, MCO segment registered de-growth of 11% and Industrial business registered growth of 2%, DEO- Agri segment registered a growth of 5% during the year 2017.
The PCMO segment remained flat during the year and the Company is hopeful of performing strong in 2018.
Sales revenues were registered at 9322 MINR against previous year 8592 MINR. Net operating income stood at 359 MINR as against 338 MINR in the previous year.
India is a key market to the Company’s Two Wheeler oil business due to its ever increasing population/ usage of motorcycles and gearless scooters. Tapping in to this high potential MCO segment, your Company launched Total Hi-Perf Motorcycle Engine Oil in September, 2017. This product launch has been supported with ongoing robust BTL communication/ Trade engagements supported with a 360 degree ATL communication.
The product launch (Total Hi-Perf) has been well appreciated in the market and your Company is quite hopeful of the product picking further momentum in the coming months, courtesy the strong ATL, TV campaign coupled with BTL / Trade engagements.
The Company grew in the Industrial Business and acquired new big accounts in the key focus sectors and improved its market share.
The Company has commenced supply for TVS factory in India & direct exports to Africa.
The Company continues to support high performing Distributors through TOTAL ELITE CLUB programme.
During the year, the Company continued to focus on a wide array of marketing activities aimed at strengthening its brand position. The Company invested in brand building and launched two Total Quartz outdoor campaigns to build brand salience and image in India along with a strong BTL activation reinforcing the brand even with the trade stakeholders.
The Company continues to build a strong brand visibility at retail Point-of-Sales and Point-of-Consumption through its branding projects – Total Lube Stations, Total Bike Workshops and Total Quartz Auto Care. Complimenting the retail branding is the Dealer Boards and Mechanic Boards.
The Company strengthened the digital foot print in social media primarily on Facebook by innovative activations and gathered 1.3 MN likes on its Facebook page.
The Company launched new Distributor training programme, organized distributor meets and appointed new Distributors with the object of increasing engagement with the channel partners and improving network.
The Company has a complete range of lubricants across sectors and is completely equipped for competitive response to further grow in the dynamic lube market in India.
The Company continues to invest in extensive BTL marketing programs through trade activations, in-shop campaigns, events, seminars, dealer meets, mechanic meets and consumer road shows. This has helped your Company to establish itself as among the fastest growing player in the lubricant industry.
The improvement in manufacturing facilities was amply visible in the supply of increased volume for supporting the sales growth.
TECHNICAL CENTRE ASIA PACIFIC (TCAP)
In 2017, TCAP scope of responsibility within MS/R&D has continued to expand with the assignment of global responsibility on Crude Oil additives for TOTAL ACS on top of the R&D for MCO, Textile, Quesching Oils, ATF. An analytical team has been created to support other teams for deep analysis with skilled and expert people. New investments were also made to develop new capabilities for product characterization and performance evaluation. TCAP is now equipped with about 100 equipments covering more than 150 methods in the fields of Lubricants, Fuels, Fuels additives and Special Fluids. The laboratory of Special Fluids has been equipped to increase their expertise in drilling fluids developments.
On the organizational side, domains of responsibility between engineers have been modified with creation a dedicated team for Fuel and Fuel Additives and the organization within three dedicated teams covering respectively Engine Oils (MCO, PCMO, HDDEO, Marine, Industry, Textile and Metal working), Fuels / Fuel additives activities and Special Fluids team. A transverse support analytical team has been created.
TCAP has grown to reach now 30 employees working closely with CReS on M&S research and development programs.
SPECIAL FLUIDS BUSINESS
Special Fluids business has clocked 23972 MT volumes and achieved 6% growth over 2016. The Company continues to enjoy significant market share in accessible market of Dearomatise Solvents and Plasticizers. The Company has shown significant growth in new emerging Plasticizer segment by registering 32% growth and has commercialized new accounts such as Reliance and ISRL in 2017.
For the year 2018, the Company will continue with its strategy to sustain key accounts and focus on the following areas for growth in 2018-20:
Low Flash Products;
Crop Protection – develop new markets / expand usage to new crops;
Develop Rocket Propulsion Fuel business with ISRO;
Close monitoring of DF Tenders / Contracts.
BITUMEN BUSINESS
Bitumen business achieved 15836 MT with marginal de-growth in 2017 due to the double impact of Demonetization – November, 2016 and Goods & Service Tax – July, 2017 respectively.
The Company added new products such as Cold Mix Emulsions in 2017 and has further improved its product mix by increasing contribution of emulsion from 52% to 58%.
The Company will continue to pursue its strategy to further expand its business beyond Rajasthan in states of MP, UP, Delhi, Haryana etc., and consolidate market share in Rajasthan.
With ongoing projects and identified new leads, the Company is expecting improved market share in modified Bitumen market in 2018.
LPG BUSINESS
LPG business achieved an overall growth of 6% over the previous year 2016 and the core business grew by 11%. Overall business had crossed 2,00,000 MT in 2017.
The packed segment grew by 9%, Quantaz by 22%, BOOM and Auto LPG business had shown the growth of 10%. The commodity business had declined by 15%, because your Company opted out of some of the business which was considered risky by HSEQ due to long distance travel by the tankers. Business development activities had shown good growth, 19 new distributors and 8 auto LPG stations were commissioned, 16 Quantaz customers, 40 LOT installations and 4 BOOM customers were added during the year 2017.
Top Service mystery evaluation has assessed an excellent overall score of 87% for the Auto LPG Stations managed by TOIPL with 44 % of stations had received 100% score.
Terminal at Mangalore has achieved throughput of 0.775 million MT LPG. Out of this 0.603 million MT belonged to National Oil Companies and 0.172 million own imports. Revenue from terminal operation was 305 MINR.
During the year the Company added New Unloading facility at Jetty 12 and Common blending system for Jetty 12 & 13 respectively, which resulted into higher throughput volumes at the Mangalore terminal.
FIXED ASSETS:
·
Land
·
Buildings
·
Plant and equipment
·
Furniture and fixtures
·
Vehicles
·
Office equipment
·
Leasehold improvements
·
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 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 68.26 |
|
UK Pound |
1 |
INR 91.22 |
|
Euro |
1 |
INR 79.88 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHI |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
IND |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.