MIRA
INFORM REPORT
|
Report Date : |
16.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
SHREE SHUBHAM LOGISTICS LIMITED |
|
|
|
|
Registered
Office : |
Plot No.A-1 and A-2, G.I.D.C. Electronic Estate, Sector – 25,
Gandhinagar – 382 004, Gujarat |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
19.01.2007 |
|
|
|
|
Com. Reg. No.: |
04-049796 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.340.000
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U60232GJ2007PLC049796 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMS13821D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAKCS4924N |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Service Provider of Material Testing Services, Stock Trading/Money Market and Quality
Management. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1234000 |
|
|
|
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Slow |
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|
|
|
Litigation : |
Clear |
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|
|
Comments : |
Subject is an established company having moderate track. There appears
some accumulated losses recorded by the company. However, trade relations are
reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with some caution.
|
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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
Plot No.A-1 and A-2, G.I.D.C. Electronic Estate, Sector – 25,
Gandhinagar – 382 004, Gujarat, India |
|
Tel. No.: |
91-79-23214000 |
|
Fax No.: |
91-22-23211966/
23211971 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
41, Kalpataru Synergy,
Opposite Grand Hyatt, Santacruz (East), Mumbai – 400 055, |
|
Tel. No.: |
91-22-30645000/ 30642401/
30642403 |
|
Fax No.: |
91-22-30642447/
30644999 |
|
E-Mail : |
|
|
|
|
|
Regional Office
: |
C/o Kalpataru
Theatres Private Limited, E-4, Shastri Nagar, |
|
Tel. No.: |
91-291-2771212/
2771072 |
|
Fax No.: |
91-291-2771744 |
|
|
|
|
Analysis and
Certification Laboratory : |
H-11, Goan Mandi
Premises (Basni Mandi), Bhagat Ki Kothi, 2nd Phase, |
|
Tel. No.: |
91-291-2720277 |
|
E-Mail : |
DIRECTORS
As on 29.07.2010
|
Name : |
Mr. Aditya Gyanendra Bafna |
|
Designation : |
Whole-Time Director |
|
Address : |
C-55, Shastri Nagar, |
|
Date of Birth/Age : |
03.05.1981 |
|
Date of Appointment : |
19.01.2007 |
|
DIN No.: |
00441510 |
|
|
|
|
Name : |
Mr. Shubhendra Kumar Gyanendra Bafna |
|
Designation : |
Whole-Time Director |
|
Address : |
C-55, Shastri Nagar, |
|
Date of Birth/Age : |
05.12.1983 |
|
Date of Appointment : |
19.01.2007 |
|
DIN No.: |
00464191 |
|
|
|
|
Name : |
Mr. Manish Dashrathmal Mohnot |
|
Designation : |
Director |
|
Address : |
C/4/11, Sunder Nagar, |
|
Date of Birth/Age : |
15.05.1972 |
|
Date of Appointment : |
15.03.2007 |
|
DIN No.: |
01229696 |
|
|
|
|
Name : |
Mr. Kamalkishore Mohanlalji Jain |
|
Designation : |
Director |
|
Address : |
C-24, “Ninaad Greencity Society”, Opposite Vediocon Factory, Sector –
26, Gandhinagar – 382 044, |
|
Date of Birth/Age : |
05.06.1957 |
|
Date of Appointment : |
15.03.2007 |
|
DIN No.: |
00269810 |
|
|
|
|
Name : |
Ms. Sumitra Gyanendra Bafna |
|
Designation : |
Director |
|
Address : |
C-55, Shastri Nagar, |
|
Date of Birth/Age : |
11.08.1953 |
|
Date of Appointment : |
19.01.2007 |
|
Date of Ceasing : |
29.12.2010 |
|
DIN No.: |
00357336 |
KEY EXECUTIVES
|
Name : |
Vishesh Narendra Singhvi |
|
Designation : |
Secretary |
|
Address : |
D-76, Kamla Nehru Nagar, |
|
Date of Birth/Age : |
13.04.1979 |
|
Date of Appointment : |
24.05.2008 |
|
PAN No.: |
AOQPS7941Q |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.07.2010
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Aditya Gyanendra Bafna |
|
1627400 |
|
Shubhendra Kumar Gyanendra Bafna |
|
1033000 |
|
Sumitra Gyanendra Bafna |
|
43400 |
|
Ridhi Aditya Bafna |
|
372500 |
|
Mamta Shubhendra Bafna |
|
663500 |
|
Nilu Kankeria |
|
100 |
|
Sudha Jain |
|
100 |
|
Kalpatartu Power Transmission Limited, |
|
16000000 |
|
Shubhendra Kumar Bafna HUF |
|
260000 |
|
Total |
|
20000000 |
|
Names of Shareholders (Preference Shares) |
|
No. of Shares |
|
Aditya Gyanendra Bafna |
|
486000 |
|
Shubhendra Kumar Gyanendra Bafna |
|
486000 |
|
Sumitra Gyanendra Bafna |
|
45000 |
|
Ridhi Aditya Bafna |
|
176000 |
|
Kalpatartu Power Transmission Limited, |
|
12500000 |
|
Gyanendra Bafna |
|
176000 |
|
Shubham Fiscal Services Private Limited, |
|
131000 |
|
Total |
|
14000000 |
As on 29.12.2010
|
Names of Allottees (Equity Shares) |
|
No. of Shares |
|
Kalpatartu Power Transmission Limited, |
|
7000000 |
|
Total |
|
7000000 |
|
Names of Allottees (Preference Shares) |
|
No. of Shares |
|
Kalpatartu Power Transmission Limited, |
|
1000000 |
|
Total |
|
1000000 |
As on 29.07.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
80.00 |
|
Directors
or relatives of directors |
|
20.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Service Provider of Material Testing Services, Stock Trading/Money Market and Quality
Management. |
|
|
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
Union Bank of |
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Facilities : |
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
Kishan M. Mehta and Company Chartered Accountants |
|
Address : |
6, Premchand House Annexe, |
|
Tel. No.: |
91-79-26581570/ 66055570 |
|
Fax No.: |
91-79-66311570 |
|
E-Mail : |
|
|
PAN No.: |
AABFK8413G |
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|
|
|
Holding Company : |
Kalpataru Power
Transmission Limited, CIN No.:
L40100GJ1981PLC004281 |
|
|
|
|
Group Companies : |
v Kalpataru Limited v
JMC Projects |
CAPITAL STRUCTURE
After 29.07.2010
Authorised Capital : Rs.460.000 millions
Issued, Subscribed & Paid-up Capital : Rs.420.000
millions
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
21000000 |
Equity Shares |
Rs.10/- each |
Rs.210.000 millions |
|
16000000 |
Preference Shares |
Rs.10/- each |
Rs.160.000 millions |
|
|
Total
|
|
Rs.370.000
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
20000000 |
Equity Shares (Out of above 16000000 Equity Shares are held by Holding Company,
Kalpataru Power Transmission Limited and 3849600 Equity Shares were allotted
as fully paid up for consideration other than cash) |
Rs.10/- each |
Rs.200.000
millions |
|
14000000 |
Preference Shares (Preference Shares are cumulative redeemable entitled to 4% Dividend
and are redeemable) |
Rs.10/- each |
Rs.140.000
millions |
|
|
Total
|
|
Rs.340.000 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
340.000 |
340.000 |
220.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
5.186 |
3.361 |
|
|
4] (Accumulated Losses) |
(31.441) |
0.000 |
0.000 |
|
|
NETWORTH |
308.559 |
345.186 |
223.361 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
936.699 |
794.703 |
69.639 |
|
|
2] Unsecured Loans |
490.947 |
33.132 |
190.712 |
|
|
TOTAL BORROWING |
1427.646 |
827.835 |
260.351 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
1.668 |
0.438 |
|
|
|
|
|
|
|
|
TOTAL |
1736.205 |
1174.689 |
484.150 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1365.577 |
507.744 |
168.594 |
|
|
Capital work-in-progress |
127.487 |
615.980 |
47.070 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
14.857 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
99.740
|
57.578 |
106.669 |
|
|
Sundry Debtors |
119.056
|
66.751 |
79.625 |
|
|
Cash & Bank Balances |
15.506
|
13.725 |
26.075 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
79.801
|
49.334 |
72.171 |
|
Total
Current Assets |
314.103
|
187.388 |
284.540 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
22.461
|
100.718 |
9.161 |
|
|
Other Current Liabilities |
64.089
|
35.755 |
6.122 |
|
|
Provisions |
0.000
|
0.668 |
0.771 |
|
Total
Current Liabilities |
86.550
|
137.141 |
16.054 |
|
|
Net Current Assets |
227.553
|
50.247 |
268.486 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.731 |
0.718 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1736.205 |
1174.689 |
484.150 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales and Services |
884.347 |
559.560 |
308.542 |
|
|
|
Other Income |
4.812 |
2.751 |
5.847 |
|
|
|
TOTAL (A) |
889.159 |
562.311 |
314.389 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Increase/ Decrease in Stocks |
(41.812) |
49.505 |
(93.348) |
|
|
|
Purchase for Trading Goods |
834.235 |
467.205 |
367.747 |
|
|
|
Operating Expenses |
8.329 |
4.657 |
4.064 |
|
|
|
Employees’ Emoluments |
39.104 |
10.942 |
5.386 |
|
|
|
Administrative, Selling and Other
Expenses |
23.821 |
9.539 |
7.569 |
|
|
|
TOTAL (B) |
863.677 |
541.848 |
294.418 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
25.482 |
20.463 |
22.971 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
68.688 |
15.152 |
13.886 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(43.206) |
5.311 |
9.085 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
9.858 |
1.719 |
0.768 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
(53.064) |
3.592 |
8.317 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(16.525) |
1.898 |
3.085 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
(36.539) |
1.694 |
5.232 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
5.186 |
3.361 |
(1.114) |
|
|
|
|
|
|
|
|
|
|
Prior
Period Income Tax |
(0.088) |
0.131 |
0.003 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend on Preference Shares |
-- |
-- |
0.649 |
|
|
|
Corporate tax on Preference Shares
Dividend |
-- |
-- |
0.111 |
|
|
BALANCE CARRIED
TO THE B/S |
(31.441) |
5.186 |
3.361 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of Goods |
13.877 |
0.000 |
NA |
|
|
TOTAL EARNINGS |
13.877 |
0.000 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(2.14) |
0.09 |
0.59 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
(4.11)
|
0.30 |
1.66 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(6.00)
|
0.64 |
2.70 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(3.16)
|
0.52 |
1.84 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.17)
|
0.01 |
0.04 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.91
|
2.80 |
1.24 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.63
|
1.37 |
17.72 |
LOCAL AGENCY FURTHER INFORMATION
OPERATTONS:
During the
Financial year 2009-10 total revenue of the company was Rs.889.100 millions
which is over 58% higher as compared to F.Y 2008-09. The company has incurred loss
of Rs.36.500 millions which is primarily due to delay in construction of Agri
Logistics Parks (ALP’s) on account of various uncontrollable external factors.
Company is mainly
involved in Logistics Business. After completion of Phase I of expansion, the
Company is now running Agri Logistics Parks at Twelve Locations in the States
of Gujarat and Rajasthan, out of these it has received accreditation for nine
locations (
Company is also
involved in the trading activity of Agro commodities. In order to hedge price
risk on material procured, the Company enters into forward sale contracts in
future market. The hedging transactions are used only for the purposes to
manage exposure to commodity price risks.
The Company has started retailing of spices and launched its own brand.
The Company has also started value added services to complete its vision
of providing end to end commodity value chain solutions. These services include
Testing and Certification, Insurance Services, Auction yard platform,
Processing and Cleaning Grading Services, and further the company is also
planning to provide Fumigation and Pest Control Services in F.Y. 2010-11.
The company in F.Y. 2009-10 has got recognition as an approved assayer
and warehouse service provider from National Commodity and Derivatives Exchange
Limited and NCDEX Spot Exchange Limited.
The company provides Procurement, Trading and Export Services for
various types of commodities to large corporate buyers. With this thought they
have an internal analysis for various commodity producers, which enable them to
ensure better control of competition and delivery of operations.
The company is also in the process of developing and implementing new
in-house software which will help them secure real time data and information
from the field level, spanning a large number of procurement locations.
FORM 8:
|
Corporate
identity number of the company |
U60232GJ2007PLC049796 |
|
Name of the
company |
SHREE SHUBHAM LOGISTICS LIMITED |
|
Address of the
registered office or of the principal place of business in |
Plot No.A-1 and A-2, G.I.D.C. Electronic Estate, Sector – 25,
Gandhinagar – 382 004, Gujarat, India E-Mail: vishesh.singhvi@ssll.in |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10125299 |
|
Type of charge |
Immovable
Property Book Debts Movable Property |
|
Particular of
charge holder |
Union Bank of |
|
Nature of
description of the instrument creating or modifying the charge |
Second
Supplemental Memorandum of Deposit of Title Deed |
|
Date of instrument
Creating the charge |
26.04.2011 |
|
Amount secured by
the charge |
Rs.1348.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: C. C. Hypothecation:-
BASE RATE+3.50% i.e. 13.00% Term Loan:- BASE
RATE+ i.e. 13.00% or such other rates as may be prescribed by the bank from
time to time as per the direction of RBI/ or as per PLR. Terms of
Repayment: Cash Credit
Hypothecation: Amount repayable on demand Term Loan:
Repayable in 24 Quarterly installments starting from Quarter ending June 2010 Fresh Term Loan:
Repayable in 20 Quarterly installments starting from Quarter ending June 2011 Margin: Cash Credit
Hypothecation : 25% Term Loan : 32% Fresh Term
Loan : 25% Extent and
Operation of the charge: Charge operates
as a first charge on Company's Immoveable properties to secure Fund and Non
Fund Based Facilities aggregating to Rs.1348.000 millions comprising of CC Hypothecation Facility of Rs.150.000
millions and Term Loan Facility of Rs.730.500 millions, Fresh Term Loan of
Rs.67.500 millions, LG 120.000 millions, LC 30.000 millions, WHR Rs.250.000
millions together with interest, compound int. and /or additional int. in
case of default, exchange fluctuation, cost, charges, expenses etc. |
|
Date of latest
modification prior to the present modification |
08.12.2010 |
|
Particulars of
the present modification |
Second Supplemental
Memorandum of Deposit of Title Deeds for extension of charge amount to
Rs.1348.000 millions. |
CONTINGENT
LIABILITY IN RESPECT OF:
|
Particulars |
31.03.2010 (Rs.
in millions) |
|
a) Bank Guarantee given |
60.000 |
|
b) Corporate Guarantee given to Bank |
-- |
Corporate Guarantees given to bankers as service provider is considered
Nil, being a remote contingent liability in view of pledge of sufficient value of
stocks stored in warehouses and past history of non occurrence of any liability
on the company.
FIXED ASSETS:
v
v
v
Buildings
v
Plant and Machineries
v
Furniture, Fixtures and Office Equipments
v
Vehicles
v
Computer
WEBSITE DETAILS:
PROFILE:
Subject an
ISO 9001 : 2008 Certified Company is a subsidiary of Kalpataru Power
Transmission Limited (KPTL). Subject was created to serve the needs of
agri-commodity storage sector with the best practices and infrastructure in
ambient and temperature controlled warehouses across major markets in
With a pan
THEIR GROUP:
OVERVIEW
Kalpataru Group was established in 1969 by their promoter Mr. Mofatraj.P.Munot.
Kalpataru Limited, the flagship real estate company of the Kalpataru group of
companies, is one of the leading real estate development groups in
The Kalpataru Group has interests in real estate development, property and project management, engineering, procurement and construction (EPC) contracting for power transmission and infrastructure projects including road projects, warehousing and logistics. One of its key strengths is affiliation and relationship with the Kalpataru Group and the strong brand equity generated from the "Kalpataru" brand name.
The promoter and promoter group was one of the largest Civil Contracting firms in the Middle East, based in UAE during the period of 1974 to 1982, and have completed various successful projects including residential properties, commercial, religious establishments and other projects. From constructing innovative buildings to developing futuristic infrastructure, Kalpataru Group has developed 73 landmark edifices till date.
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.45.37 |
|
|
1 |
Rs.73.53 |
|
Euro |
1 |
Rs.64.37 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
- |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
26 |
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.