MIRA INFORM REPORT
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Report Date : |
13.04.2011 |
IDENTIFICATION DETAILS
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Name : |
UNITECH MACHINES LIMITED |
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Registered Office : |
806, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
28.02.1986 |
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Com. Reg. No.: |
55-23498 |
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CIN No.: [Company
Identification No.] |
U34300DL1986PLC023498 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELU02048E |
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PAN No.: [Permanent
Account No.] |
AAACU0313P |
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Legal Form : |
A closely held public limited liability company |
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Line of Business : |
Manufacturer of Automotive Parts such as Lighting and Signals, Dies, Extension Rod, Piping and Boilers Parts, Jigs, Fixtures, Tank, etc. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (55) |
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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 : |
USD 3600000 |
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Status : |
Good |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and reputed computed having fine track.
Financial position of the company appears. To be sound. Trade relations are
fair. Payments are reported to be usually correct and as per commitments. The company can be considered normal 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.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
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Registered Office : |
806, |
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E-Mail : |
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Website : |
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Corporate Office : |
Plot No 35 P, Sector-44,
Gurgaon-122002, |
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Tel. No.: |
91-124- 4326555 / 4326444 |
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Fax No.: |
91-124-4326500/326400 /4326400/4326500 |
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E-Mail : |
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Factory 1 : |
10th
K. M., |
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Tel. No.: |
91-132-2760347 |
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Fax No.: |
91-132-2760346 |
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Tele Fax No.: |
91-1336246212-15 |
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E-Mail : |
4000 sq.mtrs (Owned) |
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Administrative
Office : |
176, Old Hamida
Yamuna Nagar-135001, |
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Tel. No.: |
91-1732-641781/82 |
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Fax No.: |
91-1732-260175 |
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E-Mail : |
DIRECTORS
As on : 30.09.2010
|
Name : |
Mr. Verinder Kumar Chhabra |
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Designation : |
Director |
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Address : |
60 Prakriti Marg, |
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Date of Birth/Age : |
11.06.1949 |
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Qualification : |
Diploma in Electrical Engineering |
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Experience: |
34 Years |
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Date of Appointment : |
28.02.1986 |
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Name : |
Mr. Jatinder Kumar Mehta |
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Designation : |
Managing Director |
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Address : |
C -762 , New Friends Colony, |
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Date of Birth/Age : |
11.04.1949 |
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Date of Appointment : |
12.10.1990 |
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Name : |
Mr. Arvind Kapoor |
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Designation : |
Director |
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Address : |
181-C, |
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Date of Birth/Age : |
05.07.1950 |
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Date of Appointment : |
23.10.1987 |
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Name : |
Mr. Sushant Chhabra |
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Designation : |
Managing Director |
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Address : |
60 Prakriti Marg, |
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Date of Birth/Age : |
26.06.1974 |
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Experience : |
09 Years |
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Date of Appointment : |
03.09.2004 |
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Name : |
Mrs. Nargis Malik |
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Designation : |
Director |
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Address : |
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Date of Birth/Age : |
03.03.1942 |
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Date of Appointment : |
08.12.2000 |
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Name : |
Mr. Shashank
Bhatat |
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Designation : |
Director |
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Date of Birth/Age : |
08.12.1954 |
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Date of Appointment : |
19.06.2007 |
KEY EXECUTIVES
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Name : |
Mr. Rajesh Ramnani |
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Designation : |
Company Secretary |
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Address : |
D-44, 2nd
Floor, Naraina Vihar, New Delhi-110008, |
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Date of Birth/Age : |
15.08.1968 |
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Date of Appointment : |
16.06.2007 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on : 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
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V K Chhabra |
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11962622 |
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Sushant Chhabra |
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12059160 |
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Bala Chhabra |
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1153778 |
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SAB Holdings ( |
|
2937240 |
|
Gessup Logistics
and Finance Private Limited, |
|
1880000 |
|
Jatender Kumar
Mehta |
|
1200 |
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Mithlesh Kumar
Agnihotri |
|
1200 |
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Surendra Pal
Saini |
|
1200 |
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Satish KMAR Gupta |
|
1200 |
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Suresh Shetty |
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1200 |
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Renu Munjal |
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1200 |
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Total |
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30000000 |
As on : 30.09.2010
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Equity Share
breakup (percentage of total equity) |
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Category |
Percentage |
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Bodies Corporate |
16.06 |
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Directors or relatives of directors |
83.92 |
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Other top fifty (50) shareholders |
0.02 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Automotive Parts such as Lighting and Signals, Dies, Extension Rod, Piping and Boilers Parts, Jigs, Fixtures, Tank, etc. |
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Products : |
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PRODUCTION STATUS (AS ON : 31.03.2009)
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Particulars |
Units |
Licensed Capacity |
Installed Capacity |
Actual Production |
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Auto Division |
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Lightening and Signals |
Nos. |
N.A. |
62100000 |
55877604 |
GENERAL INFORMATION
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No. of Employees : |
About 600 (Approximately) |
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Bankers : |
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Facilities : |
Particular |
31.03.2009 (Rs. In Millions) |
31.03.2008 (Rs. In Millions) |
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Secured Loans |
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Term Loan |
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Loan From Bank |
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Citibank N.A (Housing Loan) (Secured by First pari-passu charge on movable property) |
0.000 |
11.769 |
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From SIDBI |
9.948 |
0.000 |
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From Corporation
Bank |
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Term Loan
against Chennai Office |
8.361 |
0.000 |
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Term Loan
Against Manesar Project |
55.876 |
0.000 |
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Yes Bank |
278.095 |
212.641 |
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Standard chartered Bank |
50.000 |
50.000 |
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ABN Amro Bank |
75.000 |
117.857 |
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Working
Capital Demand Loan |
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Yes Bank |
40.000 |
50.000 |
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Corporation Bank |
209.343 |
162.000 |
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Cash Credit |
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Corporation Bank |
358.594 |
80.499 |
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Corporation Bank (Gurgaon) |
0.429 |
0.000 |
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Corporation Bank (SRE) |
5.714 |
0.000 |
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Standard Chartered Bank |
44.410 |
117.818 |
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Citi Bank N.A. |
118.406 |
0.000 |
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Yes Bank |
4.876 |
0.000 |
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Vehicle Loans |
19.022 |
23.563 |
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Loan From
Others |
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From and
Packing Credit Loan From standard chartered bank |
22.220 |
0.000 |
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Loan from H.S.I.D.C |
0.000 |
6.237 |
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Hero Honda Finlease Limited |
77.656 |
53.233 |
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Total |
1377.756 |
885.618 |
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Unsecured
Loans |
31.03.2009 (Rs. In Millions) |
31.03.2008 Rs. In Millions |
|
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Loan From bodies Corporate |
232.426 |
201.662 |
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Total |
232.426 |
201.662 |
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Note : A. Term Loan (From Banks)
B. Term Loan from others (other than bank) Term loan from Hero Honda Finlease limited is secured by way of
hypothecation of specific plant and machinery and dies acquired out of loan
provided. C. Working Capital Facilities :
All Cash Credit limit and WCDL is secured by way of first pari passu
charge of hypothecation of entire stock and book debts Also secured by way of
second pari passu charge on the movable fixed assets and immovable properties
of the company, both present and future. D. Vehicle Loan |
||
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Banking
Relations : |
Satisfactory |
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Financial
Institutions: |
Hero Honda Finlease Limited 34 Community
Centre Basant Lokvasant Lok, Vasan VIhar, |
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Auditors : |
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Name : |
P R Kumar and Company Chartered Accountant |
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Address : |
U-2, |
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Group Company : |
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CAPITAL STRUCTURE
As on : 31.03.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
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|
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|
25000000 |
Equity Shares |
Rs.10/- Each |
Rs.250.000
Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
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|
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|
15000000 |
Equity Shares |
Rs.10/- Each |
Rs.150.000
Millions |
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|
(Of the above shares 5050000 Shares were allotted as fully paid up by way
of bonus shares by capitalization of General reserve) |
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As on : 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
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|
|
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|
50000000 |
Equity Shares |
Rs.10/- Each |
Rs.500.000
Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
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|
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|
30000000 |
Equity Shares |
Rs.10/- Each |
Rs.300.000
Millions |
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FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
150.000 |
150.000 |
65.600 |
|
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2] Share Application Money |
69.500 |
0.000 |
45.575 |
|
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3] Reserves & Surplus |
691.504 |
519.160 |
306.093 |
|
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
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NETWORTH |
911.004 |
669.160 |
417.268 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1377.756 |
885.618 |
657.844 |
|
|
2] Unsecured Loans |
232.428 |
201.662 |
199.601 |
|
|
TOTAL BORROWING |
1610.184 |
1087.280 |
857.445 |
|
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DEFERRED TAX LIABILITIES |
98.026 |
64.764 |
87.519 |
|
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|
|
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TOTAL |
2619.214 |
1821.204 |
1362.232 |
|
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APPLICATION OF FUNDS |
|
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|
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FIXED ASSETS [Net Block] |
1127.460 |
722.611 |
588.664 |
|
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Capital work-in-progress |
168.190 |
201.082 |
85.010 |
|
|
|
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INVESTMENT |
123.723 |
36.554 |
21.361 |
|
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
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|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
368.470 |
256.691 |
172.469 |
|
|
Sundry Debtors |
1285.828 |
1030.085 |
689.126 |
|
|
Cash & Bank Balances |
87.728 |
66.424 |
64.041 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
567.251 |
493.182 |
490.541 |
|
Total
Current Assets |
2309.277
|
1846.382
|
1416.177 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
827.377 |
735.803 |
586.016 |
|
|
Provisions |
282.059 |
249.622 |
162.989 |
|
Total
Current Liabilities |
1109.436
|
985.425
|
749.005 |
|
|
Net Current Assets |
1199.841 |
860.957 |
667.172 |
|
|
|
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|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.025 |
|
|
|
|
|
|
|
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TOTAL |
2619.214 |
1821.204 |
1362.232 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
|
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SALES |
|
|
|
|
|
|
|
Income |
4022.302 |
3545.185 |
3174.967 |
|
|
|
Other Income |
36.814 |
28.878 |
28.099 |
|
|
|
TOTAL (A) |
4059.116 |
3574.063 |
3203.066 |
|
|
|
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|
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Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing Expenses |
3126.862 |
2662.856 |
2469.638 |
|
|
|
Administrative Expenses |
605.904 |
382.708 |
271.537 |
|
|
|
Increase/(Decrease) in Finished Goods |
(128.023) |
(9.297) |
(27.199) |
|
|
|
Miscellaneous Expenditure Written off |
0.000 |
0.025 |
0.025 |
|
|
|
Provision for Doubtful Debts |
0.332 |
0.000 |
3.994 |
|
|
|
Bad Debts Written Off |
0.222 |
4.733 |
2.913 |
|
|
|
Loss on Transfer of Assets |
0.132 |
1.980
|
0.095 |
|
|
|
Other Expenditure |
110.998 |
0.000 |
0.000 |
|
|
|
TOTAL (B) |
3494.431 |
3043.005 |
2721.003 |
|
|
|
|
|
|
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
564.685 |
531.058 |
482.063
|
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
224.458 |
158.426 |
96.232 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
340.227 |
372.632 |
385.831 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
78.932 |
75.961 |
47.380 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
261.295 |
296.671 |
338.451 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
92.714 |
83.874 |
140.702 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
168.581 |
212.797 |
197.749 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
439.227 |
243.184 |
165.779 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED TO
THE B/S |
611.672 |
439.227 |
243.184 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Goods/ services Exported |
18.688 |
35.387 |
12.736 |
|
|
|
Discount and Reimbursement |
1.748 |
1.410 |
Nil |
|
|
TOTAL EARNINGS |
20.436 |
36.797 |
12.736 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
79.621 |
56.522 |
78.741 |
|
|
|
Finished Goods |
28.281 |
36.766 |
66.416 |
|
|
|
Dies, Moulds and Machines |
54.348 |
21.790 |
7.236 |
|
|
TOTAL IMPORTS |
162.250 |
115.078 |
152.393 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
11.04 |
22.21 |
34.05 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
PAT / Total Income |
(%) |
4.15 |
5.95 |
6.17 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.49 |
0.08 |
1.21 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.60 |
11.55 |
16.88 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.28 |
0.44 |
0.81 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.98 |
3.10 |
3.85 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.08 |
1.87 |
1.89 |
LOCAL AGENCY FURTHER INFORMATION
Note : The Registered
office address of the company has been shifted from Oshu House 344/3, Lado
Sarai,
OPERATIONS:
The Company
displayed growth in total income (turnover) of Rs. 4187.140 Millions during the
year ended 31st March, 2009. The corresponding figure for the previous year was
Rs. 3583.360 millions
reflecting an increase of 16.85% in total income (turnover) over pervious year.
The profit after
tax for the year after tax dipped to Rs.165.581 millions exhibiting a slight
decline of 22.19% in growth. This may be attributable partly to the economic
slowdown and partly to the increase in the manufacturing and other expenses
which was 19.75% more over last years expenses.
CONTINGENT
LIABILITY :
A)
The estimated amount of contracts remaining to be
executed on capital account and not provided for (net of advances) is Rs.
67.723 millions as at 31st March 2009(Previous Year Rs. 59.940
millions)
B)
The company has outstanding guarantees and counter
guarantees of Rs. 880.685 millions (Previous Year Rs. 656.920 millions) as at
31st March, 2009 to various bank in respect of the guarantee given
by the bank in favour Government Authorities and Others.
C)
The Company stands as surety for other Body
Corporate under Delhi Sales Tax and Central Sales tax Act and Central Sales Tax
Act for Value of Rs. 0.350 millions (Previous Year Rs. 0.250 millions)
D)
Disputed sales tax/works contract tax and services
tax liability amounting to Rs. 13.193 millions (Previous Year Rs. 10.651
millions) in respect of complete assessment under appeals.
FORM : 8
Bankers Charges
Report as per Registry
|
This form is for |
Creation of
charge |
|
Corporate identity
number of the company |
U34300DL1986PLC023498 |
|
Name of the
company |
UNITECH MACHINE LIMITED |
|
Address of the
registered office or of the principal place of business in |
806, |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
Corporation Bank, Industrial Finance Branch,. 16/10, 1st
Floor, |
|
Nature of description
of the instrument creating or modifying the charge |
Memorandum of
Deposit of Title Deeds |
|
Date of
instrument Creating the charge |
23.01.2009 |
|
Amount secured by
the charge |
Rs. 16.200
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Rate of Interest
shall be 14.25% p.a. being 1% over /
and above the bank PLR (COBAR), which is 13.25% p.a. at present Terms of Repayment In 48 monthly installments
of Rs. 0.338 Millions each commencing form March 2009 Monthly interest
shall be recovered separately as and when due Margin 40.22% Extent and Operation of the charge Term Loan of Rs.
16.200 Millions sanctioned for purchase of office premises at Chennai costing
Rs. 27.100 Millions Others The loan shall be
released directly to the seller after taking an undertaking form the company
to create EMG immediately on obtention of the deed. A Letter shall be issued by the company
that the register on the bank lien on the property and to send the deed
directly to the bank with an intention to create EMG on the property |
|
Short particulars
of the property charged |
Exclusive First
charge by way of equitable mortgage of office premises at Chennai, carpet
area Approximately sq.ft at Plot No. 49, |
|
Corporate
identity number of the company |
U34300DL1986PLC023498 |
|
Name of the
company |
UNITECH MACHINES
LIMITED |
|
Address of the
registered office or of the principal place of business in |
806, |
|
This form is for |
Modification of
charge |
|
Type of charge |
Immovable property
Movable property
(not being pledge) Others |
|
Particular of
charge holder |
Kotak Mahindra
Bank Limited, 15-16, Ugf, |
|
Nature of
instrument creating charge |
Memorandum Of Entry
Dated 25.02.2011 |
|
Date of
instrument Creating the charge |
25/02/2011 |
|
Amount secured by
the charge |
Rs. 250.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest : As per sanction
letter /such other rate as may be prescribed by the bank from time to time. Terms of repayment : As per Sanction
terms of the facilities sanctioned. Margin : The Company shall
maintain such margin as may be specified by the bank from time to time. Extent and operation of the charge : As per Agreement. Other : Nil |
|
Short particulars
of the property charged (Including location of the property) |
First Pari Passu
Charge By Way Of Hypothecation On Moveable Fixed Asstes (Both Present And
Future) Of The Borrwer (Excluding Of Those Exclusive Charge To Other Lenders) |
|
Date of
instrument modifying the charge |
22/12/2009 |
|
Particulars of
the present modification |
Term Loan
facility of Rs. 250.000 millions has been additionally secured by First pari passu
charge on the Immovable Property at 1) 10 Km
Stone,Delhi Saharanpur Road via Shamli in the revenue Estate of village Mohan
Pur Gara,Village Zandhera Shamshpur and Village Mughal Majra,Tehsil
Devband,District Saharanpur,U.P. and 2) Plot No 402,
Sector-8, Admeasuring 18,900 Sq.Mtrs.,Industrial Estate, IMT Manesar,
Gurgaon, HR as mentioned in attached
MOEs. |
FIXED ASSETS:
·
Land and Development
·
Building
·
Plant and Machinery
·
Furniture and Fixtures
·
Moulds and Dies
·
Office Equipments
·
Vehicles
·
Electrical Fittings
·
Cycle
·
Air Conditioner
·
Computers
·
Temporary Construction
·
Technical know-how
·
Computer Software
AS PER WEBSITE
Profile:
Subject is one of the manufacturers of a range of lighting and
signaling equipment in technical collaboration with Thai Stanley for the
automotive sector in
Subject is also an OEM supplier for other leading Automobiles Manufacturers.
The capability of company to supply to a variety of multinational JV firm and
winning their confidence has been its main strength. It has trained work force
of 500 personnel. Subject has their tool manufacturing / designing facility in
house for all type of moulds and press tools. Main strength is the QCD i.e.
Quality, Cost and Delivery to Customer.
"ISO 9002" accredition by Det Norske Vertias, B.V.Netherland
for fabrication & Manufacturing of Heat Exchangers, Pressure Vessels,
Integral Piping etc. is an added advantage. The division is in the aprroved
list of vendors of major consultants/clients through out the country.
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 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. 44.04 |
|
|
1 |
Rs. 72.19 |
|
Euro |
1 |
Rs. 63.40 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
55 |
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 |
Capability to overcome financial difficulties seems comparatively below
average. |
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 |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.