MIRA
INFORM REPORT
|
Report Date : |
12.12.2011 |
IDENTIFICATION DETAILS
|
Name : |
VOLT-AGE INFRA PRIVATE LIMITED |
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|
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Formerly Known
As : |
VOLT-AGE INFRASTRUCTURE AND POWER PROJECTS PRIVATE LIMITED |
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Registered
Office : |
C-403, 4th Floor, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
08.05.2003 |
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Com. Reg. No.: |
25-17937 |
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Capital
Investment / Paid-up Capital : |
Rs.8.100 Millions |
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|
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CIN No.: [Company Identification
No.] |
U31200PN2003PTC017937 |
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|
TAN No.: [Tax Deduction & Collection
Account No.] |
PNEV05293B |
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PAN No.: [Permanent Account No.] |
AACCV1102F |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business
: |
Subject is engaged as Electrical Contractor, Design, Engineering, Supply, Installation, Testing of Electrical
Installation and Substitution upto 400 KB.
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No. of Employees
: |
120 (Approximately) |
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 130000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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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.
INFORMATION PARTED BY
|
Name : |
Mrs. Prashanti Hole |
|
Designation : |
Senior Marketing Executive |
|
Contact No.: |
91-9890900312 |
|
Date : |
10.12.2011 |
LOCATIONS
|
Registered Office : |
C-403, 4th Floor, |
|
Tel. No.: |
91-20-24262084 / 24262085 / 86 / 30421582 |
|
Mobile No.: |
91-9890900312 (Mrs. Prashanti Hole) |
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Fax No.: |
91-20-24267486 |
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E-Mail : |
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Website : |
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Area : |
1700 sq. ft. |
|
Location : |
Owned |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Suresh Anandrao Nikam |
|
Designation : |
Director |
|
Address : |
S. No. 127/A, 559 T P S No. 03, Vrindavan Society, Mhatre Bridge, Pune
- 411 030, Maharashtra, India |
|
Date of Birth/Age : |
22.09.1961 |
|
Qualification : |
Electrical Engineering |
|
Date of Appointment : |
08.05.2003 |
|
DIN No.: |
01030942 |
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|
|
|
Name : |
Mrs. Ujjwala Suresh Nikam |
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Designation : |
Director |
|
Address : |
Plot No. 2, Vrindavan Society, Bear Mhatre Bridge, Navi Peth, Pune –
411 030, Maharashtra, India |
|
Date of Birth/Age : |
01.02.1968 |
|
Date of Appointment : |
08.05.2003 |
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DIN No.: |
01031090 |
Other Directorship
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date of
appointment |
Company Status |
Defaulting
status |
|
1 |
U31200PN2003PTC017937 |
Volt-Age Infra
Private Limited |
Director |
08-05-03 |
08-05-03 |
Active |
NO |
|
2 |
U31101PN2010PTC135485 |
Deity Fuel
Energy Private Limited |
Director |
24-02-11 |
24-02-11 |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Mrs. Prashanti Hole |
|
Designation : |
Senior Marketing Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Suresh Nikam |
|
679000 |
|
Ujwala Nikam |
|
131000 |
|
Total |
|
810000 |
As on 30.09.2011
|
Equity Share
Breakup |
Percentage of Holding |
|
Category |
|
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged as Electrical Contractor, Design, Engineering, Supply, Installation, Testing of Electrical
Installation and Substitution upto 400 KB.
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Terms : |
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Selling : |
Cash and Credit (30 days / 60 days) |
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Purchasing : |
Cash and Credit (30 days / 60 days) |
GENERAL INFORMATION
|
Customers : |
End Users Steel/Automobile Industry ·
Tata Motors Limited, Pune ·
Mercedez Benze India Limited, Chikhali Pune ·
Lakasha Auto Trim (Private) Limited, Chakan, Pune ·
Piaggo Greaves Private Limited, Baramati ·
The Indian Smelting and Refining Company Limited,
Thane ·
Zameel Steel Private Limited, Ranjangaon ·
Mahindra Forging Limited, Chakan ·
Mahindra Autpmotive Limited, Chakan ·
Volkswagen India Private Limited, Chakan Food, Poultry, Beverage and Dairy Industry ·
·
Japfa Oberai Agro Limited, Ahmednagar. ·
Transcheme limited (Mushroom division), Maval
Pune ·
Western Hatcheries Company Limited Textile Industry ·
Salora Shinsung Textile Company Limited ·
Brinton Carpet Pirangut, Pune ·
Maskara Polytex Limited, ·
·
Reichhold India Private Limited, Ranjangaon Petroleum and Oil Industry ·
Oil and Natural Gas Corporation, Betul, Small Hydro Power Projects ·
VA Tech Hydro Escher Wyss Flovel Limited At
Shahapur ·
Small Hydro Powe Project – 5 Mw Hydro Project,
110 Kv Substation ·
Ghatghar Hydro Electric Division-I- 22 Kv Express
Feeder, Lt Distribution ·
2x5mw Hydro Project,220 KV Substation and Line At
Konal, District Sindhudurg CO-Generation Power Projects Division ·
Dnyaneshwar Sugar Plant, Nagar, ·
Loknete Baburao Patil S.S.K Limited, ·
Vitthalrao Sinde S.S.K Limited, Solapur, ·
Mula S.S.K Limited, Newasa, ·
Terna SSSK Limited, Dhoki Osmanabad ·
Vighnahar SSK Limited, Junnar ·
Lokmangal Sugars and Ethanol Cogen Industries
Private Limited, Solapur Corporation Boards ·
Pimpri Chinchwad Municipal Corporation – HV
Substation External Electrification Projects for Various Sites ·
Navi Mumbai Municipal Corporation - HV Substation
External Electrification Projects for Various Sites Commercial Establishment ·
Air Force Naval Housing Board Phase-I and II, At
Kharghar New Mumbai ·
Air Force Naval Housing Board, Pune ·
IVRCL Infrastructure and Projects Limited, Railways ·
Central Railway, Dc-Ac Conversion, Wadibunder
Mumbai Wind Power Projects ·
Regen Powertech Private Limited - 200 mw wind
project, 220/33 kv substation |
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No. of Employees : |
120 (Approximately) |
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Bankers : |
·
Bank of 431/112, Shukrawar Peth, ·
State Bank of India, 1548A Commercial Branch,
Tilak Road, Sadashiv Peth, Pune - 411030, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
S. D. Medadkar and Company Chartered Accountants |
|
Address : |
56, Happy Apartments, |
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TeleFax No.: |
91-20-24321147 |
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E-Mail : |
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PAN No.: |
AAKFS7691H |
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Associates/Subsidiaries : |
Volt-Age Engineering Company Address: Office No. 109/110, Industrial Complex, Activity: Industrial Projects, |
CAPITAL STRUCTURE
As on 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
850000 |
Equity Shares |
Rs.10/- each |
Rs.8.500 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
810000 |
Equity Shares |
Rs.10/- each |
Rs.8.100
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
8.100 |
8.100 |
8.100 |
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|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
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|
3] Reserves & Surplus |
25.131 |
18.764 |
9.142 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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|
NETWORTH |
33.231 |
26.864 |
17.242 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
37.580 |
25.855 |
36.213 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
37.580 |
25.855 |
36.213 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
|
|
TOTAL |
70.811 |
52.719 |
53.455 |
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APPLICATION OF FUNDS |
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|
|
|
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|
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|
FIXED ASSETS [Net Block] |
1.979 |
1.908 |
1.791 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
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INVESTMENT |
0.600 |
0.600 |
0.600 |
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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 |
6.953
|
4.883
|
10.070 |
|
|
Sundry Debtors |
135.644
|
71.970
|
26.065 |
|
|
Cash & Bank Balances |
1.828
|
0.873
|
2.611 |
|
|
Other Current Assets |
34.683
|
39.955
|
37.269 |
|
|
Loans & Advances |
12.700
|
0.107
|
0.017 |
|
Total
Current Assets |
191.808
|
117.788
|
76.032 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
73.987
|
42.464
|
9.951 |
|
|
Other Current Liabilities |
44.401
|
19.230
|
13.759 |
|
|
Provisions |
5.188
|
5.883
|
1.266 |
|
Total
Current Liabilities |
123.576
|
67.577
|
24.976 |
|
|
Net Current Assets |
68.232
|
50.211
|
51.056 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.008 |
|
|
|
|
|
|
|
|
TOTAL |
70.811 |
52.719 |
53.455 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
305.015 |
309.273 |
55.924 |
|
|
|
Other Income |
|
0.393 |
0.249 |
|
|
|
TOTAL |
305.015 |
309.666 |
56.173 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
295.024 |
53.704 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
295.048 |
295.024 |
53.704 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
9.967 |
14.642 |
2.469 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
3.600 |
5.020 |
0.855 |
|
|
|
|
|
|
|
|
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|
PROFIT AFTER TAX
|
6.367 |
9.622 |
1.614 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
7.86 |
11.88 |
1.99 |
|
Expected Sales (2011-2012) : Above Rs.350.000 millions
The above information has been parted by Mr. Prashanti Hole
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
2.09
|
3.11 |
2.87 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
4.73 |
4.41 |
|
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|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.14
|
12.23 |
3.17 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.30
|
0.55 |
0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.85
|
3.48 |
3.55 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.55
|
1.74 |
3.04 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
|
Particulars |
As
on 31.03.2011 Rs.
in millions |
As
on 31.03.2010 Rs.
in millions |
As
on 31.03.2009 Rs.
in millions |
|
Sundry Creditors for supplies and expenses |
73.987 |
42.464 |
9.951 |
|
Sr. No. |
Check List by Info Agents |
|
|
1. |
Year of Establishment |
YES |
|
2. |
Locality of the firm |
YES |
|
3. |
Constitutions of the firm |
YES |
|
4. |
Premises details |
YES |
|
5. |
Type of Business |
YES |
|
6. |
Line of Business |
YES |
|
7. |
Promoter’s background |
-- |
|
8. |
No. of employees |
YES |
|
9. |
Name of person contacted |
YES |
|
10. |
Designation of contact person |
YES |
|
11. |
Turnover of firm for last three years |
YES |
|
12. |
Profitability for last three years |
NO |
|
13. |
Reasons for variations <> 20% |
-- |
|
14. |
Estimation for coming financial year |
YES |
|
15. |
Capital in the business |
NO |
|
16. |
Details of sister concerns |
YES |
|
17. |
Major Suppliers |
NO |
|
18. |
Major Customers |
NO |
|
19. |
Payment terms |
YES |
|
20. |
Export / Import details (is applicable) |
-- |
|
21. |
Market information |
-- |
|
22. |
Litigation that the firm / promoter involved
in |
-- |
|
23. |
Banking Details |
YES |
|
24. |
Banking facility details |
-- |
|
25. |
Conduct of the banking account |
-- |
|
26. |
Buyer visit details |
-- |
|
27. |
Financials, if provided |
NO |
|
28. |
Incorporation details, if applicable |
-- |
|
29. |
Last accounts filed at ROC |
-- |
|
30. |
Major Shareholders, is available |
-- |
NOTE
The Registered office of the company has been
shifted from Off No. 109/110, Imdulal Complex, Lal Bahadur Shastri Marg, Pune,
FORM 8
|
Corporate
identity number of the company |
U31200PN2003PTC017937 |
|
Name of the
company |
VOLT-AGE INFRA PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
C-403, 4th Floor, |
|
This form is for |
Creation of
Charge |
|
Type of charge |
· Book Debts · Movable Property · Others o Current Assets |
|
Particular of
charge holder |
State Bank of |
|
Nature of
instrument creating charge |
a) Agreement of Loan-cum- Hypothecation b) Letter of Arrangement (Both the
documents executed for creation of single charge) |
|
Date of instrument
Creating the charge |
15.01.2011 |
|
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 Interest @ 3.65% above
the base rate which is presently 8% p.a. Present effective rate 11.65%l p.a.
or at rate prescribed by the bank from time to time. Terms of
Repayment As per agreement
with the bank Margin Semi Finished
Goods 25%, Finished Goods 33%, Domestic Receivables 150 days 25%, Letter of
Credit and bank guarantee 20% Extent and
Operation of the charge Details of
Facilities Demand Cash Credit Rs.50.000 Millions, Bank Guarantee Rs.75.000
Millions, Letter of Credit Rs.25.000 Millions, Total Rs.150.000 Millions. The
charge on hypothecation assets continues till full repayment of loan. Others As per Agreement
with the bank |
|
Short particulars
of the property charged |
Hypothecation of
Existing as well as future current assets of the company at their premises and
at various godowns located all over or including stocks, goods in transit,
outstanding monies, book debts and receivables. |
FIXED ASSETS
·
Computers
·
Office Equipment (AC
Cooler)
·
·
Xerox Machine
·
Swift (MH-12 EM 8035)
·
Furniture and Fixture
·
Bajaj Vehicle Two Wheeler
·
Plant and Machinery
·
Tools and Tickle
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.52.23 |
|
|
1 |
Rs.81.55 |
|
Euro |
1 |
Rs.69.60 |
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 |
NO |
|
--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.