MIRA
INFORM REPORT
|
Report Date : |
25.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
MAHINDRA INTERTRADE
LIMITED |
|
|
|
|
Formerly Known
As : |
MAHINDRA EXPORTS LIMITED |
|
|
|
|
Registered Office
: |
Mahindra Towers, P. K. Kurne Chowk, Worli, Mumbai-400018, Maharashtra |
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|
Country : |
India |
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|
|
|
Financials (as
on) : |
31.03.2010 |
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|
Date of
Incorporation : |
20.03.1978 |
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|
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|
Com. Reg. No.: |
11-20222 |
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|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 166.000 millions. |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51900MH1978PLC020222 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM20515F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACM4745P |
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|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Traders of Engines, Leather Goods, Steel Raw
Materials, Steel, Special Steels, Spare Parts, Garments, Pump Sets, Sheet Metal
Components, Manhole Covers, etc. |
|
|
|
|
No. of Employees
: |
110 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (66) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 6700000 |
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|
|
|
Status : |
Good |
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|
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Payment Behaviour : |
Regular |
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|
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Litigation : |
Clear |
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|
Comments : |
Subject is a part of Mahindra Group, a well known and highly
respectable industrial house. It is a well established company having fine track.
Financial position of the company appears to sound. Trade relations are
reported as fair. Business is active. Payments are reported to be correct and
as per commitments. The company can be considered good for normal 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.
INFORMATION DECLINED BY
|
Name : |
Mr. Ashish |
|
Designation : |
Finance Controller |
|
Date : |
24.08.2011 |
LOCATIONS
|
Registered Office / Corporate Office : |
Mahindra Towers, P. K. Kurne Chowk, Worli, Mumbai-400018, Maharashtra,
India |
|
Tel. No.: |
91-22-24935203/ 24935185/ 86 |
|
Fax No.: |
91-22-24951236/ 1872 |
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E-Mail : |
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|
Website : |
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|
Location : |
Owned |
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Branch Office : |
Located at:
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|
|
|
|
Overseas Office : |
UAE – Sharjah SAIF Zone P.O. Box – 8114, Sharjah |
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Tel. No.: |
91-971-6-5573437135 |
|
Fax No.: |
91-971-6-5573436 |
|
E-Mail : |
DIRECTORS
AS ON 22.07.2011
|
Name : |
Mr. Rajan Wadhera |
|
Designation : |
Director |
|
Address : |
1203, Oberoi Gardens, ‘C’
Wing, Thakur village, Kandivali (East), Mumbai-400101, Maharashtra, India |
|
Date of Birth/Age : |
10.07.1956 |
|
Date of Appointment : |
28.04.2010 |
|
DIN No : |
00416429 |
|
|
|
|
Name : |
Mr. Bharat Doshi |
|
Designation : |
Chairman |
|
Address : |
8, St. Helen’s Court, Dr.
Gopalrao Deshmukh Marg, Mumbai – 400026 |
|
Date of Birth/Age : |
12.06.1949 |
|
Date of Appointment : |
28.08.1992 |
|
DIN No : |
00012541 |
|
|
|
|
Name : |
Mr. Parag Shah |
|
Designation : |
Director |
|
Address : |
7, Kailas, 50, Peddar
Road, Mumbai-400026, Maharashtra, India |
|
Date of Birth/Age : |
25.11.1975 |
|
Date of Appointment : |
22.07.2010 |
|
DIN No : |
00374944 |
|
|
|
|
Name : |
Mr. Zhooben Bhiwandiwala |
|
Designation : |
Director |
|
Address : |
S – 13, Cusrow Baug, Shahid
Bhagat, Singh Road, Mumbai – 400039, Maharashtra, India |
|
Date of Birth/Age : |
09.12.1959 |
|
Date of Appointment : |
17.02.2000 |
|
DIN No : |
00110373 |
|
|
|
|
Name : |
Ms. Tarjani Vakil |
|
Designation : |
Director |
|
Address : |
A – 1, |
|
Date of Birth/Age : |
30.10.1936 |
|
Date of Appointment : |
28.04.2000 |
|
DIN No : |
00009603 |
|
|
|
|
Name : |
Mr. Raghunath Murti |
|
Designation : |
Executive Vice Chairman |
|
Address : |
F – 53, 5th
Floor, Venus Apartments, Twin Star Venus Co-operative Housing Society, 87,
Cuffe Parade, Mumbai – 400005, |
|
Date of Birth/Age : |
31.10.1948 |
|
Date of Appointment : |
26.02.2003 |
|
DIN No : |
00082761 |
|
|
|
|
Name : |
Mr. Rajeev Dubey |
|
Designation : |
Director |
|
Address : |
1701, |
|
Date of Birth/Age : |
03.04.1954 |
|
Date of Appointment : |
25.02.2004 |
|
DIN No : |
00104817 |
|
|
|
|
Name : |
Mr. Harsh Kumar |
|
Designation : |
Managing Director |
|
Address : |
201, |
|
Date of Birth/Age : |
21.08.1954 |
|
Date of Appointment : |
24.01.2006 |
|
Other Directorships : |
Mahindra Steel Service
Centre Limited - Director CIN No. :
U27100MH1993PLC070416 |
|
DIN No : |
00082621 |
|
|
|
|
Name : |
Mr. Pravin Nagindas Shah |
|
Designation : |
Director |
|
Address : |
41-42, Sailesh, Plot
No.94-A, Linking Road, TPS II, Santacruz (West), Mumbai – 400 054, |
|
Date of Birth/Age : |
14.05.1954 |
|
Date of Appointment : |
25.10.2006 |
|
DIN No : |
00056173 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 22.07.2011
|
Names of Shareholders |
No. of Shares |
|
Mahindra and Mahindra
Limited, India |
27100000 |
|
Mahindra and Mahindra
Limited Jt. with Mr. Zhooben Bhiwandiwala |
1 |
|
Mahindra and Mahindra Limited
Jt. with Mr. Bharat Doshi |
1 |
|
Mahindra and Mahindra
Limited Jt. with Mr. P. N. Shah |
1 |
|
Mahindra and Mahindra
Limited Jt. with Mr. Harsh Kumar |
1 |
|
Mahindra and Mahindra
Limited Jt. With Mr. Jyoti Walunj |
1 |
|
Mahindra Holdings
Limited, India |
1 |
|
Mahindra and Mahindra
Limited Jt. With Mr. Narayan Shankar |
1 |
|
Total |
27100007 |
AS ON 22.07.2011
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Traders of Engines, Leather Goods, Steel Raw
Materials, Steel, Special Steels, Spare Parts, Garments, Pump Sets, Sheet
Metal Components, Manhole Covers, etc. |
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Products : |
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GENERAL INFORMATION
|
No. of Employees : |
110 (Approximately) |
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Bankers : |
·
State Bank of India, Corporate Accounts Group,
Madam Cama Road, Nariman Point, Mumbai-400021, Maharashtra, India ·
Axis Bank Limited, Credit Management Centre,
Unit Noi.6, Corporate Park, Sion Trombay Road, Chembur, Mumbai-400071,
Maharashtra, India
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Facilities : |
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|
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|
Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins And Sells Chartered Accountant |
|
Address : |
12, Annie Besant Road, Opposite Shiv Sagar Estate, Worli,
Mumbai-400018, Maharashtra, India |
|
PAN No.: |
AABFD7919A |
|
|
|
|
Holding Company : |
Mahindra and Mahindra
Limited, India CIN No.:
L65990MH1945PLC004558 |
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|
|
|
Associates/Subsidiaries : |
Mahindra Middle East Electrical Steel Service Centre FZC Mahindra Steel Service Centre Limited (w.e.f. 11th November, 2009) CIN No.: U27100MH1993PLC070416 Mahindra Electrical Steel Limited (w.e.f.10th June,2009 ) CIN No.: U27100MH2009PLC193205 |
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|
|
|
Fellow Subsidiaries : |
|
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
28000000 |
Equity Shares |
Rs.10/- each |
Rs. 280.000 Millions |
|
1875000 |
Cumulative Redeemable Preference Shares |
Rs. 100/- each |
Rs. 187.500 Millions |
|
|
Total |
|
Rs. 467.500
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12100007 |
Equity Shares |
Rs.10/- each |
Rs. 121.000
Millions |
|
15000000 |
Equity Shares |
Rs.10/-
partly paid at Rs.3/- per share |
Rs. 45.000
Millions |
|
|
Total |
|
Rs. 166.000 Millions |
Note:
[Of the above,
12,100,006 (2009 : 12,100,006) Equity Shares of Rs. 10/- each fully paid up,
15,000,000 (2009 : 15,000,000) Equity Shares of Rs. 10/- each, Rs. 3/- paid up
are held by Mahindra and Mahindra Limited, the holding company and its
nominees.]
AS ON 22.07.2011
Authorised Capital : Rs. 467.500
millions
Issued, Subscribed & Paid-up Capital : Rs. 271.000 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 |
166.000 |
166.000 |
353.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1532.731 |
1167.250 |
885.488 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1698.731 |
1333.250 |
1238.988 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
420.911 |
483.128 |
536.992 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
420.911 |
483.128 |
536.992 |
|
|
DEFERRED TAX LIABILITIES |
50.511 |
57.315 |
31.581 |
|
|
EMPLOYEE STOCK OPTIONS OUTSTANDING |
0.366 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2170.519 |
1873.693 |
1807.561 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
662.830 |
736.030 |
710.425 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
406.462 |
435.000 |
22.502 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1343.152
|
638.012 |
1076.195
|
|
|
Sundry Debtors |
1460.044
|
1366.727 |
1840.470
|
|
|
Cash & Bank Balances |
54.721
|
14.044 |
52.897
|
|
|
Other Current Assets |
0.000
|
0.000 |
0.000
|
|
|
Loans & Advances |
182.897
|
147.152 |
195.688
|
|
Total
Current Assets |
3040.814
|
2165.935 |
3165.250 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
998.670
|
654.202 |
1046.262 |
|
|
Other Current Liabilities |
757.142
|
638.403 |
884.703
|
|
|
Provisions |
183.775
|
170.667 |
159.651
|
|
Total
Current Liabilities |
1939.587
|
1463.272 |
2090.616 |
|
|
Net Current Assets |
1101.227
|
702.663 |
1074.634
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2170.519 |
1873.693 |
1807.561 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
8763.284 |
8129.884 |
8373.848 |
|
|
|
Income from Services Rendered |
75.761 |
57.898 |
43.559 |
|
|
|
Commission |
92.338 |
126.801 |
129.266 |
|
|
|
Other Income |
123.257 |
82.292 |
66.622 |
|
|
|
TOTAL (A) |
9054.640 |
8396.875 |
8613.295 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Materials, Components and Finished Products |
7934.231 |
7152.926 |
7520.782 |
|
|
|
Personnel |
64.594 |
75.183 |
57.562 |
|
|
|
Other Expenses |
189.309 |
329.236 |
208.637 |
|
|
|
TOTAL (B) |
8188.134 |
7557.345 |
7786.981 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
866.506 |
839.530 |
826.314 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
54.784 |
75.108 |
84.842 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
811.722 |
764.422 |
741.472 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
58.367 |
50.387 |
40.740 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
753.355 |
714.035 |
700.732 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
242.696 |
266.924 |
249.870 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
510.659 |
447.111 |
450.862 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
821.772 |
759.241 |
466.475 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Dividend on Preference Shares |
0.000 |
(5.735) |
0.000 |
|
|
|
Proposed Dividend on Equity Shares |
(124.500) |
(124.500) |
(83.000) |
|
|
|
Proposed Dividend on Preference Shares |
0.000 |
0.000 |
(13.594) |
|
|
|
Tax on Dividend on Equity Shares |
(20.678) |
(21.159) |
(14.106) |
|
|
|
Tax on Dividend on Preference Shares |
0.000 |
(0.975) |
(2.310) |
|
|
|
Transfer to General Reserve |
(51.066) |
(44.711) |
(45.086) |
|
|
|
Transfer to Capital redemption reserve |
0.000 |
(187.500) |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
1136.187 |
821.772 |
759.241 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
22.439 |
24.787 |
31.851 |
|
|
|
Commission Earnings |
81.573 |
56.561 |
60.991 |
|
|
|
Dividend |
23.058 |
16.792 |
1.598 |
|
|
|
Other Earnings |
7.728 |
7.487 |
5.203 |
|
|
TOTAL EARNINGS |
134.798 |
105.627 |
99.643 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
2975.168 |
2198.904 |
2480.656 |
|
|
|
Finished Goods resale |
19.388 |
79.298 |
353.890 |
|
|
|
Others |
0.000 |
0.000 |
126.694 |
|
|
TOTAL IMPORTS |
2994.556 |
2278.202 |
2961.240 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
30.76 |
26.53 |
26.20 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
5.64
|
5.32 |
5.23 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.60
|
8.78 |
8.37 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
20.34
|
24.60 |
18.08 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.44
|
0.54 |
0.57 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.42
|
1.50 |
2.15 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.57
|
1.48 |
1.51 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS
(Rs.
In Millions)
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Sundry Creditors |
|
|
|
|
Total
outstanding dues of micro enterprises and small enterprises |
0.000 |
0.056 |
0.058 |
|
Total
outstanding dues of creditors other than micro enterprises and small
enterprises |
998.670 |
654.146 |
1046.204 |
|
Total |
998.670 |
654.202 |
1046.262 |
Note : Registered Office
of the company has been shifted from Gateway Building,
Apollo Bunder, Mumbai – 400001, Maharashtra, India to the present
address
FINANCIAL RESULTS
The Company's
income for the year increased from Rs 8396.900 millions to Rs 9054.600
millions, a growth of 7.83 %. Profit before Tax for the year was higher at Rs
753.300 millions as compared to Rs 714.000 millions in the previous year, an
increase of 5.50 %.
During the year,
the domestic economy gradually revived from the slowdown of the second half of
the previous year. The automotive sector, in particular, witnessed robust
growth resulting in increased demand for processed steel from the Company.
With the global
economy not having fully recovered from the recessionary trends of the previous
year, international prices of steel remained subdued during the year. Supply
side constraints were considerably eased, especially in electrical steel, which
resulted in a significant fall of CRGO prices.
FORM 8
|
Corporate
identity number of the company |
U51900MH1978PLC020222 |
|
Name of the
company |
MAHINDRA
INTERTRADE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Mahindra Towers, P. K. Kurne Chowk, Worli, Mumbai-400018, Maharashtra, India |
|
This form is for |
Creation of
charge |
|
Type of charge |
Book debts Movable property
(not being pledge) Others |
|
Particular of
charge holder |
Axis Bank Limited, Credit Management Centre, Unit Noi.6,
Corporate Park, Sion Trombay Road, Chembur, Mumbai-400071, Maharashtra, India |
|
Nature of
instrument creating charge |
Amendment cum
Link Agreement (ALK) dated 22nd February, 2011 a copy whereof is attached
herewith. |
|
Date of
instrument Creating the charge |
22.02.2011 |
|
Amount secured by
the charge |
Rs. 150.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest As per Sanction
letter or as stipulated by Bank from time to time. Terms of repayment on demand Margin As per Sanction
letter or as stipulated by Bank from time to time. Extent and operation of the charge Pari Passu first
charge on the current assets of the Company, both present and future Other The credit facilities
granted by the Bank of Rs.150.000 millions, now the borrower has been
permitted 100% one way interchangeability from fund based to non fund based
working capital limits. The security by way of pari passu charge on current
assets, Stocks of RM, SIF, FG, S and S , Bills receivables, Book Debts and
other Current Assets lying at Company's Premises or elsewhere or in transit,
des. in 2nd Sch. to Amendment cum Link Agreement given earlier shall continue
as security for realigned limits. |
|
Short particulars
of the property charged (Including location of the property) |
Pari Passu first
charge on all present and future stocks of RM, SIF, FG, S and S, packing
materials, etc. at Company's premises or elsewhere or in transit. Pari Passu first
charge on all present and future Book Debts and Receivables and other Current
Assets lying at Company's premises or elsewhere or in transit |
|
Charge
identification number of the charge to be modified |
10003008 |
|
Particulars of
the present modification |
Pursuant to the
Amendment cum Link Agreement date. 22.02.11, the Company has been allowed
100% one way interchange ability from fund based to non fund based working
capital limits, overall limits remaining the same at Rs. 150.000 millions.
The security by way of Pari Passu 1st Charge on the Current Assets of the
company, both present and future, lying at Company's Premises or in transit,
des. in Sch. to Amendment cum Link Agreement given earlier shall continue as
security for the realigned limits. |
FIXED ASSETS:
- Buildings
- Office Equipments
- Computers
- Plant and Machinery
- Furniture and Fittings
- Vehicles
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. 45.76 |
|
|
1 |
Rs. 75.57 |
|
Euro |
1 |
Rs. 65.97 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
66 |
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.