%20LIMITED%20-%20161964%2005-Dec-2011_files/image002.jpg){kind=small}
MIRA
INFORM REPORT
|
Report Date : |
05.12.2011 |
IDENTIFICATION DETAILS
|
Name : |
LIMTEX (INDIA) LIMITED |
|
|
|
|
Registered
Office : |
25 A, Shakespeare Sarani, 2nd Floor, P. S. Park Street,
Kolkata – 700017, West Bengal |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
10.02.1992 |
|
|
|
|
Com. Reg. No.: |
21-054383 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.13.111 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U01132WB1992PLC054383 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALL01016B |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Tea, Coffee, Oil-Seeds, Tea, Spices, etc. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 650000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. Trade
relations are reported as fair. Business is active. 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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered/ Corporate Office : |
25 A, Shakespeare Sarani, 2nd Floor, P. S. Park Street,
Kolkata – 700017, West Bengal, India |
|
Tel. No.: |
91-33-40107500 |
|
Fax No.: |
91-33-22809975 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 27.09.2011
|
Name : |
Mr. Gopal Poddar |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Managing Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
14 Ashoka Road, Flat 7 A, Kolkata – 700027, West Bengal, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
06.04.1951 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
10.02.1992 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00079030 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Shankar Poddar |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
14 Ashoka Road, Flat 5 A, Kolkata – 700027, West Bengal, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
18.02.1953 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
10.02.1992 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00079007 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Subhash Kumar Poddar |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
14 Ashoka Road, Flat 4 A, Kolkata – 700027, West Bengal, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
04.10.1962 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
10.02.1992 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00078990 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Gaurav Poddar |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Whole – time Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
14, Ashoka Road, Flat 7 A, Kolkata – 700027, West Bengal, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
26.06.1980 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
09.08.2004 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00498151 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 27.09.2011
|
Names of Shareholders |
No. of Shares |
|
Anushka Poddar Beneficiary Trust |
200000 |
|
Limtex Tea and Industries Limited |
5000 |
|
Sawalram Poddar (HUF) |
43410 |
|
Gopal Poddar |
55820 |
|
Rajendra Prasad Poddar |
4000 |
|
Lalita Poddar |
84210 |
|
Leena Poddar |
23510 |
|
Shankar Poddar |
19160 |
|
Subhash Kumar Poddar |
59420 |
|
Gaurav Poddar |
6010 |
|
Vikash Poddar |
48610 |
|
Mina Poddar |
76410 |
|
Garima Poddar |
5910 |
|
Mamta Poddar |
97500 |
|
Rajendra Prasad Poddar (HUF) |
32700 |
|
Subhash Kumar Poddar (HUF) |
37200 |
|
Gopal Prasad Poddar (HUF) |
41700 |
|
Umatara Tea Company Limited |
2000 |
|
Shankar Poddar (HUF) |
25600 |
|
Budhdeo Ravidas |
1000 |
|
Ramesh Chand Jain |
2000 |
Equity Share Break up (Percentage of Total Equity)
As on 27.09.2011
|
Category |
Percentage |
|
Bodies corporate |
0.57 |
|
Directors or relatives of Directors |
58.63 |
|
Others |
40.80 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Tea, Coffee, Oil-Seeds, Tea, Spices, etc. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Bankers : |
·
Small Industries Development Bank of India, 11
Dr. U N Brahmachari Street, Kolkata – 700017, West Bengal, India ·
Canara Bank, 2, Brasbone Road, Kolkata – 700001,
West Bengal, India ·
State Bank of India, 38B, Chowringhee Road,
Kolkata – 700071, West Bengal, India |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
R L Mundhra and Company Chartered Accountants |
|
Address : |
859/745, Marshal House, 33/1, Netaji Subhas Road, Kolkata – 700017,
West Bengal, India |
|
Tel. No.: |
91-30221745/ 22307602 |
|
PAN.: |
AAEFR0104N |
|
|
|
|
Group Companies : |
·
Limtex (India) Limited ·
Limtex Agri Udyog Limited ·
Limtex Tea and Industries Limited ·
Limtex Industries Limited ·
Limtex Infotech Limited ·
Sujali Tea and Industries Limited ·
Satyanarayan Tea Company Private Limited ·
Green Card Developers Private Limited ·
Poddar Exports |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2500000 |
Equity Shares |
Rs.10/- each |
Rs.25.000 Millions |
|
|
|
|
|
Issued :
|
No. of Shares |
Type |
Value |
Amount |
|
2412320 |
Equity Shares |
Rs.10/- each |
Rs.24.123
Millions |
|
|
|
|
|
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1311060 |
Equity Shares |
Rs.10/- each |
Rs.13.111
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 |
13.111 |
13.111 |
13.111 |
|
|
2] Share Application Money |
39.500 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
111.389 |
102.380 |
98.659 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
164.000 |
115.491 |
111.770 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
173.495 |
90.937 |
97.894 |
|
|
2] Unsecured Loans |
31.854 |
33.669 |
12.766 |
|
|
TOTAL BORROWING |
205.349 |
124.606 |
110.660 |
|
|
DEFERRED TAX LIABILITIES |
0.318 |
0.934 |
0.992 |
|
|
|
|
|
|
|
|
TOTAL |
369.667 |
241.031 |
223.422 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
36.491 |
40.256 |
43.467 |
|
|
Capital work-in-progress |
0.211 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
7.200 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
154.482
|
65.347 |
86.185 |
|
|
Sundry Debtors |
223.648
|
69.312 |
66.843 |
|
|
Cash & Bank Balances |
14.248
|
11.512 |
11.418 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
19.380
|
79.637 |
49.163 |
|
Total
Current Assets |
411.758
|
225.808 |
213.609 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
75.478
|
18.315 |
28.361 |
|
|
Other Current Liabilities |
6.490
|
4.360 |
4.276 |
|
|
Provisions |
4.025
|
2.358 |
1.017 |
|
Total
Current Liabilities |
85.993
|
25.033 |
33.654 |
|
|
Net Current Assets |
325.765
|
200.775 |
179.955 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
369.667 |
241.031 |
223.422 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
883.788 |
363.936 |
421.187 |
|
|
|
Other Income |
10.656 |
11.711 |
4.603 |
|
|
|
TOTAL (A) |
894.444 |
375.647 |
425.790 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Increase/ Decrease in Stock |
(89.176) |
21.751 |
(10.529) |
|
|
|
Purchases |
855.580 |
262.155 |
366.363 |
|
|
|
Salary, Wages and Other Benefit to Employees |
8.468 |
5.705 |
5.448 |
|
|
|
Manufacturing and Other Expenses |
37.047 |
36.779 |
23.173 |
|
|
|
Selling Expenses |
35.859 |
18.159 |
17.115 |
|
|
|
Loss on sale of Fixed Asset |
0.015 |
0.287 |
0.001 |
|
|
|
TOTAL (B) |
847.793 |
344.836 |
401.571 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
46.651 |
30.811 |
24.219 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
31.088 |
20.992 |
18.313 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
15.563 |
9.819 |
5.906 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
5.027 |
5.521 |
4.794 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
10.536 |
4.298 |
1.112 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.283 |
1.500 |
0.493 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H)
(I) |
9.253 |
2.798 |
0.619 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
95.855 |
93.057 |
92.438 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
105.108 |
95.855 |
93.057 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of goods (FOB Basis) |
0.000 |
257.431 |
259.006 |
|
|
TOTAL EARNINGS |
0.000 |
257.431 |
516.437 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Tea |
0.000 |
24.617 |
59.791 |
|
|
|
Packing Materials |
0.000 |
0.616 |
0.518 |
|
|
|
Chemical |
0.000 |
2.653 |
0.000 |
|
|
TOTAL IMPORTS |
0.000 |
27.886 |
60.309 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
7.06 |
2.13 |
0.47 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
1.03
|
0.74 |
0.14 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.01
|
1.18 |
0.26 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.35
|
1.61 |
0.43 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06
|
0.03 |
0.01 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.77
|
1.29 |
0.03 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.78
|
9.02 |
6.35 |
LOCAL AGENCY FURTHER INFORMATION
FORM 8
|
Corporate identity number of the company |
U01132WB1992PLC054383 |
|
Name of the company |
LIMTEX (INDIA) LIMTED |
|
Address of the registered office or of the
principal place of business in |
25 A,
Shakespeare Sarani, 2nd Floor, P. S. Park Street, Kolkata –
700017, West Bengal, India Email Id : info@limtex.com |
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the
charge to be modified |
10169820 |
|
Type of charge |
Immovable property Book debts Movable property (not being pledge) |
|
Particular of charge holder |
State Bank of India, 38B, Chowringhee
Road, Kolkata – 700071, West Bengal, India Email Id : sandipkej.home@yahoo.in |
|
Nature of instrument creating charge |
Letter of Arrangement Supplemental Agreement of Loan-Cum-
Hypothecation Guarantee Agreement |
|
Date of instrument Creating the charge |
07.03.2011 |
|
Amount secured by the charge |
Rs.449.500 Millions |
|
Brief of the principal terms an conditions
and extent and operation of the charge |
Rate of Interest WC : 4.50% margin above the base rate which
is presently 8.25% p.a. present effective rate 12.75% p.a. EPC : 7.75% SLC : 12.75% Terms of repayment WC : On Demand Margin Raw Materials : Indigenous : 25% Finished Goods - 25% Domestic Receivables - 40% (Cover 90 days) Letter of Credit - 10% Bank Guarantee - 10% |
|
Short particulars of the property or
asset(s) charged (including complete address and location of the property) |
Primary : Stock and book debts Collateral : 1) Extension of EM of land
and building at Kotagiri (1st charge), 2) Extension of EM of land and building of
Pannimedai (2nd Charge) 3) EM Extension of company's office
located at "The Legacy" 25A Shakespeare Sarani, Kolkata - 17,
Office unit no.21/221, 21/225, 2d/22E at 2nd Floor of the building - 1st
charge 4) Plant and machinery at Kotagiri (1st
charge) Personal guarantee of Gopal Prasad Poddar,
Shankarlal Poddar, Subhas Kumar Poddar, Gaurav Poddar and Gunjan Poddar |
|
Date of instrument modifying the charge |
14.10.2010 |
|
Particulars of the present modification |
By this modification the overall limit has
been enhanced from Rs.400.000 Millions to Rs.449.500 Millions comprising of: CC/WC : Rs.60.000 Millions EPC/PCFC : Rs.150.000 Millions FBP/BD : Rs.120.000 Millions SLC : Rs.49.500 Millions LC : Rs.40.000 Millions BG : Rs.30.000 Millions Total : Rs.449.500 Millions |
FIXED ASSETS
·
Patent and Trademarks
·
Land
·
Building
·
Warehouse
·
Plant and Machinery
·
Furniture and Fixture
·
Vehicles
·
Machines
·
Air Conditioner
·
Fire Extinguisher
·
Land and Plantation
·
Wireless
·
Solar Systems
·
Water Purifier
·
Tea Sample Tins
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.51.35 |
|
|
1 |
Rs.80.51 |
|
Euro |
1 |
Rs.69.14 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--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 |
|
45 |
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.