MIRA
INFORM REPORT
|
Report Date : |
31.03.2007 |
IDENTIFICATION
DETAILS
|
Name : |
KERB KONUS
FASTENERS PRIVATE LIMITED |
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Registered Office : |
Plot No E-5,
MIDC Industrial Estate , Gokul Shirgaon,
Kolhapur – 146234, India |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
23.01.1990 |
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Com. Reg. No.: |
11-55176 |
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CIN No.: [Company
Identification No.] |
U28991MH1990PTC055176 |
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Legal Form : |
Private Limited
Liability Company |
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Line of Business : |
Subject is
engaged in the business of manufacture, import, export, buy, sell, repair, erect,
fabricate, invent, develop, research, modify, alter, assemble, improve,
prepare, design, install, exchange, hire and let on hire service, promote,
establish, acquire or otherwise deal in India or elsewhere all kinds of
industrial and consumer based fasteners and threaded inserts for metals,
plastics, wood, sheet metals, and thread locking sealing devices and
systems. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD95000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a
well-established and reputed company having satisfactory track. Directors are
reported as experienced and respectable businessmen. Trade relations are
reported as fair. Business is active. Payments are usually correct and as per
commitments. The company can
be considered normal for business dealings at usual trade terms and
conditions. |
LOCATIONS
|
Registered
Office / Factory: |
Plot No E-5,
MIDC Industrial Estate , Gokul
Shirgaon, Kolhapur – 146234, India |
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Tel. No.: |
91-231-2672137 /
2672722 |
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Fax No.: |
91-231-2672437 |
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E-Mail : |
DIRECTORS
|
Name : |
Mr Dirk Heinz
Uelze |
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Designation : |
Director |
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Address : |
Nikolausstrasse 8
, D-92260, Amberg, Germany |
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Date of Birth/Age : |
07.06.1940 |
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Date of Appointment : |
23.01.1990 |
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Name : |
Mr Shirish
Neminath Awate |
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Designation : |
Managing Director |
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Address : |
D-9, Chowrangi Complex,
Near Z P Building, Nagala Park, Kolhapur, - 416002, Maharashtra, India |
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Date of Birth/Age : |
03.03.1960 |
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Date of Appointment : |
23.01.1990 |
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Name : |
Mrs Manisha
Shirish Awate |
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Designation : |
Director |
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Address : |
D-9, Chowrangi
Complex, Near Z P Building, Nagala Park, Kolhapur, - 416002, Maharashtra,
India |
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Date of Birth/Age : |
21.06.1962 |
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Date of Appointment : |
20.08.1990 |
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Name : |
Mr Frankbert
Anton Klarner |
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Designation : |
Director |
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Address : |
Schiltern 15,
D-92527, Wenberg – Koeblitz, Germany |
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Date of Birth/Age : |
13.07.1943 |
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Date of Appointment : |
01.01.1992 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Mr Shirish
Neminath Awate |
39500 |
39.50 |
|
Mrs Manisha
Shirish Awate |
9500 |
9.50 |
|
Kerb-Konus
Vertribes Wernher Von Braun |
51000 |
51.00 |
|
Total |
100000 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is
engaged in the business of manufacture, import, export, buy, sell, repair,
erect, fabricate, invent, develop, research, modify, alter, assemble,
improve, prepare, design, install, exchange, hire and let on hire service,
promote, establish, acquire or otherwise deal in India or elsewhere all kinds
of industrial and consumer based fasteners and threaded inserts for metals,
plastics, wood, sheet metals, and thread locking sealing devices and systems. |
GENERAL
INFORMATION
|
Bankers : |
State Bank of
India, MIDC Gokul Shirgaon Branch, Kolhapur. |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
200,000 |
Equity Shares |
Rs 100/- each |
Rs 20.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100,000 |
Equity Shares |
RS 100/- each |
Rs 10.000 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
|
10.000 |
10.000 |
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2] Share Application Money |
|
0.000 |
0.000 |
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3] Reserves & Surplus |
|
13.824 |
10.925 |
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4] (Accumulated Losses) |
|
0.000 |
0.000 |
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NETWORTH |
|
23.824 |
20.925 |
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LOAN FUNDS |
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1] Secured Loans |
|
1.713 |
3.623 |
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2] Unsecured Loans |
|
0.000 |
1.057 |
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TOTAL BORROWING |
|
1.713 |
4.680 |
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DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
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TOTAL |
|
25.537 |
25.605 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
|
16.328 |
18.172 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
|
4.249 |
4.238 |
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DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
|
2.568 |
3.304 |
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Sundry Debtors |
|
5.622 |
5.304 |
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Cash & Bank Balances |
|
0.972 |
0.915 |
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Other Current Assets |
|
6.408 |
3.003 |
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Loans & Advances |
|
0.000 |
0.000 |
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Total
Current Assets |
|
15.570 |
12.526 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
|
2.221 |
4.446 |
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Provisions |
|
8.958 |
4.885 |
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Total
Current Liabilities |
|
11.179 |
9.331 |
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Net Current Assets |
|
4.391 |
3.195 |
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MISCELLANEOUS EXPENSES |
|
0.569 |
0.000 |
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TOTAL |
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25.537 |
25.605 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
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Sales Turnover |
|
31.583 |
27.830 |
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Other Income |
|
0.000 |
0.000 |
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Total Income |
|
31.583 |
27.830 |
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Profit/(Loss) After Tax |
|
9.296 |
6.047 |
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Expenditures : |
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Interest |
|
0.231 |
0.473 |
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Depreciation & Amortization |
|
2.051 |
1.970 |
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Other Expenditure |
|
20.005 |
19.340 |
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Total Expenditure |
|
22.287 |
21.783 |
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KEY RATIOS
|
PARTICULARS |
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|
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
|
29.43 |
21.72 |
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Debt Equity Ratio (Total Liability/Networth) |
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|
0.46 |
0.44 |
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Current Ratio (Current Asset/Current Liability) |
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|
1.39 |
3.92 |
LOCAL AGENCY
FURTHER INFORMATION
World Wide Offices
Australia
ALCOA FASTENING SYSTEMS
20 Stamford Road
Oakleigh Vic 3166
Australia
Tel. +61 3 9563 1918
Fax +61 3 9563 1980
EMail: lordev@alcoa.com.au
Web: www.alcoa.com.au
Rudolph Kerb-Konus Ltda.
Rodovia SC 416 km 1,5 - 2661A
BR-89120-000 TIMBO-SC
Tel. +55 47 281 2800
Fax +55 47 281 2868
EMail: info@rudolphkerbkonus.com.br
Web: www.rudolphkerbkonus.com.br
PEC Supplies Co., Ltd.
Room 801, 8/F., Block A
Hoi Luen Industrial Centre
55 Hoi Yuen Road, Kwun Tong
Kowloon, Hong Kong
Tel. +852 2342 6727
Fax +852 2797 8231
EMail: andy@aitken.com.hk
21 Yitzchak Sadeh St.
Tel-Aviv 67213
Israel
Tel. +972 3 5617 685
Fax +972 3 5620 410
eMail: schtools@netvision.net.il
Korea
Taijoo Trading Co., Inc.
RM. 202, Mujige Shopping Center
1332-3 Seocho-Dong, Seocho-Ku,
Seoul, Korea
Tel. +82 2 3472 3147
Fax +82 2 3474 3605
EMail: taijoo@ktnet.co.kr
Singapur
VF Fastening Systems PTE LTD
10 Admiralty Street
# 06-80 North Link Building
Singapore 757695
Tel: +65 6752 3033
Fax: +65 6753 7013
eMail: jasmine@vffastening.com.sg
HPI Inserts (Pty.) Ltd.
360 Main Street
ZA-2094 Jeppestown
Tel. +27 11 618 3467
Fax +27 11 624 2365
Taiwan
Bossard Ltd., Taiwan Branch
San Shi Chung Street, No.61
Pei-Tung Dist. Taichung 406, Taiwan
Tel. +886 4 2422 7711
Fax +886 4 2422 7722
E-Mail taiwan@bossard.com.tw
India
For Coatings:
Tuf-Lok Fasteners Pvt. Ltd.
Plot No. E-5, MIDC - Ind. Estate
Gokulshirgaon
IND - Kolhapur 416 234
Tel: +91 231 672137 / 672722
Fax:+91 231 672437
EMail: kkfindia@eth.net
Kerb-Konus Fasteners Pvt. Ltd.
Plot No. E-5, MIDC - Ind. Estate
Gokulshirgaon
IND - Kolhapur 416 234
Tel: +91 231 672137 / 672722
Fax:+91 231 672437
EMail: kkfindia@eth.net
Japan
K.K.V. Corp., Osaka Office
14-13,Gamo 4-Chome,Joto-Ku
J-Osaka 536-0016
Tel. +81 66786 1122
Fax +81 66786 1123
EMail: hoshino@kkv.co.jp
3 Laurel Drive
Flanders, New Jersey 07836
Toll Free No. in USA: 0800 447 2077
Tel. +1 973 927 2077
Fax +1 973 927 3379
EMail: info@precisionfastenersinc.com
Web: www.precisionfastenersinc.com
Business
Subject is engaged in the business in India
or elsewhere of traders, brokers, agents, service agents, assemblers, packers,
repairers, fabricators, job workers, distributors, stockists, suppliers,
indenters, hirers, hire-purchase dealers, and dealers in all types of Fastners
and Threaded inserts for metals, plastics, wood, and sheet metal.
|
Name of the company |
KERB KONUS FASTENERS PRIVATE LIMITED |
|
Presented By |
MR SHIRISH NEMINATH AWATE |
|
1) Date and description of instrument creating the change |
1] Agreement for
grant of Small Industrial advance (Working Capital finance) advance against receivables
and bills in the course of collection and 2] Hypothecation of Goods, Book
Debts, Movables and other assets. 3] General
agreement for grant of small Industrial advances and Hypothecation of
Movables, Book debts 4] Assets,
Guarantee agreement all agreement dated 12.02.1997 constituting a single
charge. |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs 0.475 Millions |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Hypothecation of
Goods, Book Debts, Movables, Other Assets, receivables and Bills in course of
collection and 2nd charge on the asset financed by MSFC |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
1.] Repayment on
demand 2.] Indigenous
and imported raw material margin 25%
stock in process and finish goods margin in 33.33% 3.] Rate of
interest 17% pa.a with tax effective rate 17.75% |
|
5) Name and Address and description of the person entitled to the charge. |
State Bank of
India MIDC, Gokul
Shirgaon Branch, Kolhapur |
|
6) Date and brief description of instrument modifying the charge |
NA |
|
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
NA |
|
Name of the company |
KERB KOUNS FASTENERS PRIVATE LIMITED |
|
Presented By |
MR SHIRISH NEMINATH AWATE |
|
1) Date and description of instrument creating the change |
1] Agreement for
grant of Small Industrial advance (Working Capital finance) advance against receivables
and bills in the course of collection and 2] Hypothecation of Goods, Book
Debts, Movables and other assets. 3] General
agreement for grant of small Industrial advances and Hypothecation of
Movables, Book debts 4] Assets, Guarantee
agreement all agreement dated 12.02.1997 constituting a single charge. |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs 0.475 Millions |
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Hypothecation of
Goods, Book Debts, Movables, Other Assets, receivables and Bills in course of
collection and 2nd charge on the asset financed by MSFC |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
1.] Repayment on
demand 2.] Indigenous
and imported raw material margin 25%
stock in process and finish goods margin in 33.33% 3.] Rate of
interest 17% pa.a with tax effective rate 17.75% |
|
5) Name and Address and description of the person entitled to the charge. |
State Bank of
India MIDC, Gokul
Shirgaon Branch, Kolhapur |
|
6) Date and brief description of instrument modifying the charge |
1] Supplemental
general agreement for grant of Small Industrial Advances. And Hypothecation
of goods, book debts, and other assets. (Working Capital Finance) 2] Agreement for
the grant of Small Industrial Advances (Working Capital Finance) Advance
against receivables and bills in course of collection. 3] Agreement for
grant of Small Industrial Advances (Working Capital Finance) Hypothecation of
Goods, Book Debts, Movables and other assets. All agreement
dated 25.03.1999, constitute a single charge. |
|
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
Overall cash
credit limit increased from Rs 0.475 Millions to Rs 1.000 Millions. Effective
rate 17.75% to 14.79% (inclusive of all taxes) |
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.43.59 |
|
UK Pound |
1 |
Rs.85.53 |
|
Euro |
1 |
Rs.58.14 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
--- |
|
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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
46 |
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 and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average/normal. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|