BUSINESS INFORMATION REPORT
1. Summary Information
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Country |
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Company Name |
NAKODA LIMITED |
Principal Name 1 |
MR. B.G. JAIN |
|
Status |
SATISFACTORY |
Principal Name 2 |
MR. D.B. JAIN |
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|
|
Registration # |
04-045995 |
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Street Address |
BLOCK NO.1 AND 12 TO 16, VILLAGE KARANJ, TALUKA MANDVI, DISTRICT |
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|
Established Date |
13.08.1984 |
SIC Code |
-- |
|
Telephone# |
91-2621-234709/ 234711 |
Business Style 1 |
TRADERS |
|
Fax # |
91-2621-235430 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
YARN |
|
|
# of employees |
555 |
Product Name 2 |
-- |
|
Paid up capital |
Rs.166,000,000/- |
Product Name 3 |
-- |
|
Shareholders |
PROMOTER AND PROMOTER GROUP-50.23% PUBLIC SHAREHOLDING-49.77% |
Banking |
CANARA BANK |
|
Public Limited Corp. |
YES |
Business Period |
26 YEARS |
|
IPO |
YES |
International Ins. |
-- |
|
Public |
YES |
Rating |
Ba (46) |
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Related
Company |
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Relation
|
Country
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Company
Name |
CEO |
|
-- |
-- |
-- |
-- |
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Note |
-- |
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2. Summary
Financial Statement
|
Balance Sheet as of |
31.12.2009 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
3,631,670,000
|
Current Liabilities |
2,229,480,000 |
|
Inventories |
771,970,000
|
Long-term Liabilities |
2,889,110,000 |
|
Fixed Assets |
970,030,000 |
Other Liabilities |
71,470,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
5,190,060,000 |
|
Invest& other Assets |
769,570,000 |
Retained Earnings |
787,180,000 |
|
|
|
Net Worth |
953,180,000 |
|
Total Assets |
6,143,240,000 |
Total Liab. & Equity |
6,143,240,000 |
|
Total Assets (Previous Year) |
3,784,360,000 |
|
|
|
P/L Statement as of |
31.12.2009 |
(Unit: Indian Rs.) |
|
|
Sales |
9,862,710,000 |
Net Profit |
227,160,000 |
|
Sales(Previous yr) |
7,789,500,000 |
Net Profit(Prev.yr) |
134,400,000 |
MIRA
INFORM REPORT
|
Report Date : |
10.01.2011 |
IDENTIFICATION DETAILS
|
Name : |
NAKODA LIMITED |
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Formerly Known
As : |
NAKODA TEXTILE INDUSTRIES LIMITED |
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Registered Office : |
Block No.1 and 12 to 16, Village Karanj, Taluka Mandvi, District |
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Country : |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
13.08.1984 |
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Com. Reg. No.: |
04-045995 |
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CIN No.: [Company
Identification No.] |
L17111GJ1984PLC045995 |
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|
Legal Form : |
Public Limited Liability Company. The Companies shares are listed on
the Stock Exchange. |
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Line of Business : |
Traders of yarn and processing of polyester yarn like texturising and twisting. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 3813000 |
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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 a well 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 – 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 |
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Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office/ Plant : |
Block No.1 and 12 to 16, Village Karanj, Taluka Mandvi, District |
|
Tel. No.: |
91-2621-234709/ 234711 |
|
Fax No.: |
91-2621-235430 |
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E-Mail : |
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|
Website : |
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|
Area : |
80000 sq. Mtrs. |
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Location : |
Owned |
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|
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Administrative Office : |
701, International Trade Centre, Majura Gate, |
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Tel. No.: |
91-261-3060200 |
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Fax No.: |
91-261-3060222 |
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|
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Corporate Office : |
15B, 15th Floor, Earnest House, 194, Nariman Point, Mumbai
- 400 021, |
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Tel. No.: |
91-22-22824740/ 43 |
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Fax No.: |
91-22-22824745 |
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|
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Branch Office : |
36, New |
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Tel. No.: |
91-22 -23442590 |
DIRECTORS
As on 31.12.2009
|
Name : |
Mr. B.G. Jain |
|
Designation : |
Chairman and Managing Director |
|
|
|
|
Name : |
Mr. D.B. Jain |
|
Designation : |
Joint Managing Director |
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Name : |
Mr. P.B. Jain |
|
Designation : |
Director |
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Name : |
Mr. B.L. Maheshwari |
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Designation : |
Director |
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Name : |
Mr. S.K. Bhoan |
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Designation : |
Director |
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Name : |
Mr. P.J. Shah |
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Designation : |
Additional Director |
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Name : |
Mr. P.P. Vora |
|
Designation : |
Additional Director |
KEY EXECUTIVES
|
Name : |
Mrs. Rashmi Bhatt |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Category of Shareholder |
No. of Shares |
Percentage of Holding |
|
(A) Shareholding
of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
1,708,400 |
2.57 |
|
|
31,641,200 |
47.65 |
|
|
33,349,600 |
50.23 |
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|
|
|
|
Total shareholding
of Promoter and Promoter Group (A) |
33,349,600 |
50.23 |
|
(B) Public
Shareholding |
|
|
|
|
|
|
|
|
11,400 |
0.02 |
|
|
11,400 |
0.02 |
|
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|
|
|
|
6,785,891 |
10.22 |
|
|
|
|
|
|
17,274,229 |
26.02 |
|
|
7,057,927 |
10.63 |
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|
1,920,953 |
2.89 |
|
|
1,920,953 |
2.89 |
|
|
33,039,000 |
49.76 |
|
Total Public
shareholding (B) |
33,050,400 |
49.77 |
|
Total (A)+(B) |
66,400,000 |
100.00 |
|
(C) Shares held
by Custodians and against which Depository Receipts have been issued |
- |
- |
|
Total
(A)+(B)+(C) |
66,400,000 |
- |
(1)
Indian
Individuals
/ Hindu Undivided Family
Individual
shareholders holding nominal share capital up to Rs.0.100 million BUSINESS DETAILS
|
Line of Business : |
Traders of yarn and processing of polyester yarn like texturising and twisting. |
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Products : |
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Imports : |
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Countries : |
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Terms : |
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Selling : |
Cash and Credit (up to 45 days) |
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Purchasing : |
L/C, Cash and Credit (up to 60 days) |
PRODUCTION STATUS
|
Particulars |
|
Unit |
Installed
Capacity |
Actual
Production |
|
Texturised Yarn |
|
Metric Tonnes |
650 |
- |
|
Twisted Yarn |
|
Metric Tonnes |
420 |
- |
|
Yarn (Partially Oriented Yarn) |
|
Metric Tonnes |
30000 |
21545 |
GENERAL INFORMATION
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No. of Employees : |
Total 555 :- 25 people in register office + 30 in administrative office + 500 people at factory (Approximately) |
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Bankers : |
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Facilities : |
Canara Bank Credit Limit : Rs.20.000 millions Oriental Bank of Commerce Credit Limit : Rs.10.000 millions |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
N.M. Singapuri and Company Chartered Accountants |
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Address : |
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CAPITAL STRUCTURE
As on 10.06.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000000 |
Equity Shares |
Rs.10/- each |
Rs.1000.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
63200000 |
Equity Shares |
Rs.10/- each |
Rs.632.000
Millions |
|
|
|
|
|
As on 31.12.2009
Authorised Capital : NA
Issued, Subscribed & Paid-up Capital : Rs.166.000
millions
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2009 |
31.12.2008 |
31.12.2007 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
166.000 |
157.800 |
150.000 |
|
|
2] Share warrants & Outstanding |
0.000 |
28.440 |
0.000 |
|
|
3] Reserves & Surplus |
787.180 |
556.940 |
443.100 |
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|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
953.180 |
743.180 |
593.100 |
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|
LOAN FUNDS |
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1] Secured Loans |
1208.470 |
724.430 |
642.500 |
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2] Unsecured Loans |
1680.640 |
596.630 |
264.900 |
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TOTAL BORROWING |
2889.110 |
1321.060 |
907.400 |
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DEFERRED TAX LIABILITIES |
71.470 |
53.150 |
0.000 |
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TOTAL |
3913.760 |
2117.390 |
1500.500 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
970.030 |
604.780 |
611.900 |
|
|
Capital work-in-progress |
763.690 |
50.680 |
0.000 |
|
|
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|
|
|
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INVESTMENT |
5.880 |
0.410 |
1.900 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
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Inventories |
771.970
|
587.410 |
347.000
|
|
|
Sundry Debtors |
2771.740
|
2075.020 |
1518.500
|
|
|
Cash & Bank Balances |
650.370
|
354.460 |
290.500
|
|
|
Other Current Assets |
0.420
|
0.420 |
0.000
|
|
|
Loans & Advances |
209.140
|
111.180 |
16.700
|
|
Total
Current Assets |
4403.640
|
3128.490 |
2172.700
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
1655.320 |
1277.200
|
|
|
Other Current Liabilities |
|
|
|
|
|
Provisions |
0.000
|
11.650 |
8.800
|
|
Total
Current Liabilities |
2229.480
|
1666.970 |
1286.000
|
|
|
Net Current Assets |
2174.160
|
1461.520 |
886.700
|
|
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|
|
|
|
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|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
3913.760 |
2117.390 |
1500.500 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2009 |
31.12.2008 |
31.12.2007 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
9862.710 |
7789.500 |
5659.090 |
|
|
|
Other Income |
35.380 |
24.980 |
22.400 |
|
|
|
TOTAL (A) |
9898.090 |
7814.480 |
5681.490 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Increase/Decrease in Stock |
(149.870) |
(60.760) |
(139.210) |
|
|
|
Raw Materials Consumed |
9044.300 |
7061.850 |
5247.660 |
|
|
|
Power & Fuel Cost |
147.690 |
142.140 |
88.910 |
|
|
|
Employee Cost |
28.730 |
25.920 |
21.790 |
|
|
|
Other Manufacturing Expenses |
243.420 |
213.980 |
128.570 |
|
|
|
General and Administration Expenses |
49.480 |
55.670 |
39.020 |
|
|
|
Other Expenses |
5.410 |
4.820 |
65.790 |
|
|
|
TOTAL (B) |
9369.160 |
7443.620 |
5452.530 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
528.930 |
370.860 |
228.960 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST (D) |
201.370 |
156.190 |
89.150 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
327.560 |
214.670 |
139.810 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
53.890 |
47.720 |
36.300 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
273.670 |
166.950 |
103.510 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
46.510 |
32.550 |
33.190 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
227.160 |
134.400 |
70.320 |
|
|
|
|
|
|
|
|
|
|
Adjusted to Profit After Tax |
(18.320) |
(16.700) |
96.500 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
419.480 |
313.430 |
155.380 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
628.320 |
431.130 |
322.200 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
13.68 |
8.52 |
4.69 |
|
QUARTERLY RESULTS
|
PARTICULARS |
31.03.2010 |
30.06.2010 |
30.09.2010 |
|
Type |
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
|
Net Sales |
2934.800 |
3097.470 |
3567.830 |
|
Total Expenditure |
2775.570 |
2926.270 |
3381.940 |
|
PBIDT (Excl OI) |
159.230 |
171.200 |
185.890 |
|
Other Income |
4.460 |
4.860 |
5.030 |
|
Operating Profit |
163.690 |
176.060 |
190.920 |
|
Interest |
56.860 |
60.260 |
62.890 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
|
PBDT |
106.830 |
115.800 |
128.030 |
|
Depreciation |
17.690 |
18.930 |
19.030 |
|
Profit Before Tax |
89.140 |
96.880 |
108.990 |
|
Tax |
15.150 |
19.310 |
21.720 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
73.990 |
77.570 |
87.270 |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
|
Net Profit |
73.990 |
77.570 |
87.270 |
KEY RATIOS
|
PARTICULARS |
|
31.12.2009 |
31.12.2008 |
31.12.2007 |
|
PAT / Total Income |
(%) |
2.29
|
1.72 |
1.24 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.77
|
2.14 |
1.83 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.09
|
4.47 |
3.72 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.29
|
0.22 |
0.17 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
5.37
|
4.02 |
3.70 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.98
|
1.88 |
1.69 |
LOCAL AGENCY FURTHER INFORMATION
HISTORY:
Incorporated in Aug.'84, subject was promoted by Gumanmal P Shah and Babulal G Jain. The promoters also have interests in Trupti Twisters, G P Shah Investment and B G Jain Investment. Subject is managed by chairman G P Shah and managing director B G Jain.
In Jul.'92, the company came out with a Rs.66.000 Millions public issue of
1.100 Millions 14% FCDs of Rs.60 to part-finance the setting up of a texturised
and draw twisted filament yarn project at Surat and to augment long-term
working capital. Total fund requirement was estimated at Rs.112.500
Millions.
Subject trades in yarn and has established its own texturising plant at
Silvassa. It now processes polyester yarn (twisting and texturising). The
company has a large market network in major weaving centres such as
The company has put up a POY project with annual capacity of 10000 M T at
Karang for which the total capital outlay is Rs.215.000 Millions. The
commercial production of the second phase has commenced.
During the year 1998-99, the company has installed capacity of POY plant to
12,500 M.P.T.A. by balancing equipments. It has revolutionalised packing system
by introducing "Eco Pack" and also has enhanced production process to
match intersectional capacity.
FINANCIAL HIGHLIGHTS
The Gross Income of the Company for the year rose to Rs.10328.500 millions from Rs.8039.100 millions during the previous year showing a growth of 28.48%. Gross Profit before Financial Charges and Depreciation grew by 42.60% and stood at Rs.482.400 millions during the year compared to Rs.338.300 millions during the previous year. Profit for the year grew at an impressive rate of 69.40% and was registered at Rs. 22.72 Cr, against Rs.134.400 millions during the previous year. The Company, accordingly, exhibited an all round improved performance with handsome growth.
MAIDEN BONUS
In order to reward the shareholders on completion of 25 glorious years of the Company, the Directors have issued Bonus Snares in the ratio of one share for every one share held in the Company. The maiden bonus and an increased dividend testify the Company’s philosophy of maximizing shareholders value.
CARE RATING
CARE has upgraded Credit Rating to PR2+ (PR Two Plus) from PR2 (PR Two) for the Company’s short term bank facilities while reaffirming Credit Rating of BBB+ (Triple B Plus) for Company’s long term facilities.
WIND MILL PROJECT
During the year, the Company has diversified into Clean
Energy segment and has set up a Wind Mill Project at Tirunelveli in Tamilnadu.
It has invested Rs.430.000 millions
in installing 9 Wind Mills. The Wind Mills with an aggregate capacity of 6.75
MW have been acquired from Global Wind Power Limited, a. company promoted by
Reliance ADA Group which is manufacturing wind turbines with state of the art
technology in collaboration with
CHANGE OF NAME OF THE
COMPANY
In view of the Company’s successful diversification into
different activities during past few years, the shareholders, at their Extra-
ordinary General Meeting held on 4 January, 2010 had passed a Special
Resolution for change of name of the Company. The Registrar of Companies,
DIRECTORS
Shri M. S. Nayak a Director of the Company, left for his heavenly abode in the month of April 2010. They appreciate and will remember always the services rendered by him to the Company. Sh. S. K. Bhoan is retiring by rotation at the forthcoming Annual General Meeting and being eligible offers himself for re- appointment.
Sh. D. B. Jain is retiring by rotation at the forthcoming Annual General Meeting and being eligible offers himself for re- appointment.
Shri Paresh J. Shah was appointed as Additional Director of the company on 10m May 2010 to hold office till the date of annual general meeting. His appointment as a regular director is proposed in the ensuing meeting.
WEBSITE DETAILS:
Company Profile
Nakoda Textile Industries Limited
is an ISO 9001-2000 Company.
The
Company was incorporated as a Private Limited Company on 13th August 1984 under
the name of Nakoda Textile Industries Private Limited. It became a deemed
Public Limited Company by virtue of Sec. 43 A of Companies Act 1956 on 17th
August 1989. By means of resolution passed by company in annual general meeting
held on 16th September 1991, company was converted into Public Limited Company.
The Company was engaged in trading of yarn for year since incorporation and
estabished it's own texturising plant at Silvassa in the
The Company made its maiden Public issue of Fully Convertible Debentures
aggregating to Rs.6000 Millions in the year 1992. A preferential allotment of
equity shares aggregating to Rs.49.450 Millions was made in the year 1997. With
this allotment the total Paid up Equity capital is Rs.110.000 Millions. The
shares are listed at Bombay Stock Exchange
.
In the
year 1999 the company was successful in acquiring plant and machineries of
Garware Nylons Limited (in Liqn.) Pune. It has enhanced its POY production
capacity to 21600 MTPA in the year 2001. Further company also acquired POY
production facilities of Indian Organic Chemicals Limited, Chennai. The
equipements of same where used at
In the
year 2007 company undertook Expansion envisaging addition of 20,000 MTPA of
Fully Drawn Yarn (FDY) to the existing capacity. The FDY plant became fully
operational in November 2007. FDY is expected to improve both, the top and
bottom line of the company significantly as FDY is a more value added product.
Unlike POY which has to be texturised before conversion to fabrics. FDY
can be directly used for weaving.
NEWS:
NAKODA TO INVEST 15000.000 MILLIONS
Nakoda Limited (Previously known as Nakoda Textile Industries Limited) has drawn up an
ambitious plan to make investments of Rs.15000.000 millions during the next
three years to significantly expand its capacities in Polyester Yarn segment
and consolidate its operations by further integration. The three year plan was
approved by the Board of Directors in its meeting held on 10th May, 2010. Out
of the total investment of Rs.15000.000 millions, Rs.2340.000 millions would be
immediately spent for the second phase of expansion to increase the spinning
capacity from 1,00,000 MTPA to 1,40,000 MTPA. Nakoda’s first phase of expansion
at a cost of Rs.3330.000 millions Is nearing completion and is expected to go
on stream by August, 2010.
The Board has also
proposed to enhance the capital base of the Company by making a preferential
issue of Convertible Warrants of Rs.1080.000 millions to the promoters and
strategic investors. Additional funds not exceeding Rs.1080.000 millions is
proposed to be raised by offering equity shares through QIP or Depository
Receipts. The proceeds would be deployed to meet the Company’s growth plans.
Nakoda is embarking upon major forward as well as backwards integration and
continuously expanding its capacities to become one of the leading players in
the industry. Besides consolidating its position, it has also set eyes on
acquisition of domestic and overseas companies, businesses and projects.
Nakoda’s spinning
capacity will jump to about 0.5 million MTPA once the proposed plan is
implemented. The Company will then join 1 Billion USD Club by achieving a
turnover of Rs.50000.000 millions.
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.70.04 |
|
Euro |
1 |
Rs.58.93 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
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 |
NO |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
46 |
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.