MIRA INFORM
REPORT
|
Report Date : |
19.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
MERINO PANEL PRODUCTS LIMITED |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
08.08.1994 |
|
|
|
|
Com. Reg. No.: |
21-064386 |
|
|
|
|
Capital
Investment/ Paid-up Capital: |
Rs.20.000 Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U20299WB1994PLC064386 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
CALM02677D |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturing and Exporting of Decorative Laminates. |
|
|
|
|
No. of Employees: |
Approximately 200 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (51) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1700000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having fine track records. Financial
position of the company is good. Trade relations reported as fair. Business
is active. Payments are reported to be regular 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.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered/ Head Office : |
|
|
Tel. No.: |
91-33-22479291 / 22470976 / 22472758 / 22477587/
22901214 |
|
Fax No.: |
91-33-22400314 / 22476103/ 22906103 |
|
Telex |
021-2387 LNGX IN |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
Large |
|
Location : |
Owned |
|
|
|
|
Factory : |
44 km. Stone, Delhi-Rohtak Road, Village and P.O. Rohad, District - Jhajjar, Haryana – 124501, India |
|
Tel No.: |
91-1276-2376335/ 7/ 8/ 9/ 2376333/ |
|
Fax No.: |
91-1276-276336/ 37 |
|
Email : |
|
|
|
|
|
Regional Office/ Export Office : |
B-41, |
|
Tel No.: |
91-11-27180241/ 27181632/ 27181430/ 27103695/ 27103696 |
|
Fax No.: |
91-11-27183524/ 27104763 |
|
Email : |
|
|
|
|
|
Branches/ Marketing Office : |
AHMEDABAD 137, Tel: 91-79-6589511,
31142648 Fax: 91-79-6589511 Email: merinoahm@merinoindia.com Tel: 91-80-26741982,
26748379, 26740186 Fax:
91-80-26741982 Email: merinoblr@merinoindia.com Tel: 91-0674-2595563/ 2595759,
3400673 Email: merinobbsr@merinoindia.com CHENNAI 551 (Old No. 291), Tel:
091-4-26691398/26690979/26690716 Fax:
91-44-26691398 Email: merinochennai@merinoindia.com 41/3518 (Old No. XLI 2910) Tel:
91-484 – 2398265, 2397972 Email: merinokochi@vsnl.net 969 - D, Tel:
91-422 - 2554164 / 2554722 Email: merinocbt@merinoindia.com F-101/102, Bharat Ashish Building; 5, Tel:
91-11-23580845 / 23588011 / 23588784 Fax: 91-11-23587927 Email: merinopg@merinoindia.com 14-1-387, Flat no. 303, 3rd Floor, Shyam Apartment,
Aghapura, Tel:
91-40-24801978 Fax:
91-40-24801388 Email: merinohyd@merinoindia.com JAIPUR Opposite Mistri Khana, Gangori Bazar, Jaipur-302 001, Tel:
91-141-2318698/ 2318699 Fax:
91-141-2324998 Email: merinojaipur@hotmail.com MUMBAI Kurla Industrial Estate, Shed No. 5, Narayan Nagar, Ghatkopar (West), Mumbai-400 086, Tel:
91-22-55991970 / 55991971 Fax:
91-22-55991973 Email: merinomum@merinoindia.com GS-1, Tel: 91-712-557123, Fax:
91-712-2536372 Email: merino@nagpur.dot.net.in PUNE 1/10, Mira Cooperative Housing Society, Tel:
91-20-24273265/ 24273249/ 24272903 Fax:
91-20-24271408. Email: merinopn@vsnl.com TINSUKIA Tel:
91-374-2338975 |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Manoj Rupchand Lohia |
|
Designation : |
Whole-Time- Director |
|
Address : |
|
|
Date of Birth/Age : |
17.02.1972 |
|
Qualification : |
B.Com |
|
Experience : |
13 Years |
|
Date of Appointment : |
01.08.2008 |
|
DIN No.: |
00127775 |
|
|
|
|
Name : |
Mr. Deepak Champa Lal Lohia |
|
Designation : |
Whole Time Director |
|
Address : |
H. No. 44, Gali No. 78, Punjabi Bagh, New Delhi-110026, |
|
Date of Birth/Age : |
26.04.1976 |
|
Qualification : |
B.E. (Mechanical) |
|
Experience : |
12 Years |
|
Date of Appointment : |
01.08.2008 |
|
DIN No.: |
00154027 |
|
|
|
|
Name : |
Mr. Man Kumar Lohia |
|
Designation : |
Chairman |
|
Address : |
Vrindavan Apartment, 4th Floor, 55/ 1 Kabi
Bharati Sarani, Kolkata - 700029, West |
|
Date of Birth/Age : |
26.12.1926 |
|
Date of Appointment : |
01.10.2006 |
|
Date of Ceasing: |
22.12.2009 |
|
DIN No.: |
00061203 |
|
|
|
|
Name : |
Mr. Champalal Lohia |
|
Designation : |
Executive Vice Chairman |
|
Address : |
44/78, Punjabi Bagh, New Delhi-110026, |
|
Date of Birth/Age : |
09.03.1934 |
|
Date of Appointment : |
08.08.1994 |
|
DIN No.: |
00154019 |
|
|
|
|
Name : |
Mr. Rup Chand Lohia |
|
Designation : |
Director |
|
Address : |
Flat No. 4D, 4th Floor, |
|
Date of Birth/Age : |
16.01.1940 |
|
Date of Appointment : |
08.08.1994 |
|
DIN No.: |
00063290 |
|
|
|
|
Name : |
Mr. Prakash Lohia |
|
Designation : |
Managing Director |
|
Address : |
Vrindavan Apartment, 4th Floor, 55/ 1 Kabi
Bharati Sarani, Kolkata - 700029, West |
|
Date of Birth/Age : |
10.07.1952 |
|
Date of Appointment : |
08.08.1994 |
|
DIN No.: |
00063274 |
|
|
|
|
Name : |
Mr. Bikash Lohia |
|
Designation : |
Director |
|
Address : |
44/78, Punjabi Bagh, New Delhi-110026, |
|
Date of Birth/Age : |
27.05.1970 |
|
Date of Appointment : |
01.12.1994 |
|
DIN No.: |
00154013 |
|
|
|
|
Name : |
Mr. Deepak Lohia |
|
Designation : |
Whole Time Director |
|
Address : |
44/78, Punjabi Bagh, New Delhi-110026, |
|
Date of Birth/Age : |
25.04.1976 |
|
Date of Appointment : |
01.04.2000 |
|
DIN No.: |
00154027 |
|
|
|
|
Name : |
Mr. Manoj Lohia |
|
Designation : |
Whole Time Director |
|
Address : |
“Kasturi Chhaya” 633, 11th Main Indira Nagar, H.A.L, 2nd
Stage, Bangalore-560036, |
|
Date of Birth/Age : |
17.02.1972 |
|
Date of Appointment : |
01.06.2004 |
|
DIN No.: |
00127775 |
|
|
|
|
Name : |
Mr. Ashok Kumar Parui |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
27.12.1950 |
|
Date of Appointment : |
01.10.1998 |
|
DIN No.: |
30.09.2010 |
|
|
|
|
Name : |
Mr. Anil Jajoo |
|
Designation : |
Director |
|
Address : |
44/2/27, |
|
Date of Birth/Age : |
10.07.1968 |
|
Date of Appointment : |
01.01.2004 |
|
DIN No.: |
00063284 |
KEY EXECUTIVES
|
Name : |
Ms. Sumantra Singh |
|
Designation : |
Company Secretary |
|
Address: |
Flat No. 301, 3rd Floor, 36, |
|
Date of Birth/ Age: |
06.02.1968 |
|
Date of Appointment: |
16.09.2005 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Man Kumar Lohia |
|
1000 |
|
Champalal Lohia |
|
1000 |
|
Rupchand Lohia |
|
1000 |
|
Prakash Lohia |
|
1000 |
|
Prasan Lohia |
|
1900 |
|
Bikash Lohia |
|
2480 |
|
Manoj Lohia |
|
1860 |
|
Merion Industries Limited, West |
|
1493000 |
|
Merion Exports Private Limited, West |
|
490000 |
|
Deepak Lohia |
|
2300 |
|
Madhusudan Lohia |
|
2760 |
|
Ruchira Lohia |
|
1700 |
|
Total |
|
2000000 |
Equity Share Breakup (Percentage of Total Equity)
(As on 30.09.2010)
|
Category |
|
Percentage |
|
|
|
|
|
Bodies Corporate (Not Mentioned above) |
|
99.00 |
|
Directors or relatives of directors |
|
1.00 |
|
|
|
|
|
Total |
|
100.00
|
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Exporting of Decorative Laminates. |
||||||||||
|
|
|
||||||||||
|
Products : |
|
||||||||||
|
|
|
||||||||||
|
Brand Name : |
“MERINO”. |
PRODUCTION STATUS AS ON (31.03.2010)
|
Particulars |
Unit |
|
|
Actual
Production |
|
Electricity |
MT |
|
|
33.17 |
GENERAL INFORMATION
|
No. of Employees : |
Approximately 200 |
|
|
|
|
Bankers : |
·
State Bank of ·
Axis Bank Limited, 4/10, OPG House, · Axis Bank Limited, Kolkata Main Branch, 7, Shakespeare Sarnai, Kolkata-700071, West Bengal, India |
|
|
|
|
Banking
Relations : |
Good |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse Chartered Accountant |
|
Address : |
Plot No.Y14, Block – EP, Sector V |
|
|
|
|
Holding Company: |
Merino Industries Limited U51909WB1965PLC026556 |
|
|
|
|
Entities over which key Management personnel together with their
relatives have control: |
As on 31.03.2009 · Merinos Services Limited · Man Kumar Lohia And Brothers · Kasturbai Cold Storage Private Limited · Gopi Cold Storage Private Limited · Sri Hara Kasturi Memorial Trust |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2750000 |
Equity Shares |
Rs.10/- each |
Rs.27.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 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 |
20.000 |
20.000 |
20.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
392.765 |
280.950 |
237.512 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
412.765 |
300.950 |
257.512 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
281.250 |
361.136 |
207.902 |
|
|
2] Unsecured Loans |
48.601 |
64.319 |
67.728 |
|
|
TOTAL BORROWING |
329.851 |
425.455 |
275.630 |
|
|
DEFERRED TAX LIABILITIES |
28.141 |
27.843 |
32.968 |
|
|
|
|
|
|
|
|
TOTAL |
770.757 |
754.248 |
566.110 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
289.447 |
264.139 |
266.554 |
|
|
Capital work-in-progress |
16.009 |
6.286 |
4.962 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
278.159
|
239.005 |
292.553 |
|
|
Sundry Debtors |
251.082
|
227.214 |
206.454 |
|
|
Cash & Bank Balances |
4.557
|
93.908 |
4.533 |
|
|
Other Current Assets |
11.330
|
9.269 |
16.504 |
|
|
Loans & Advances |
136.861
|
57.804 |
8.361 |
|
Total
Current Assets |
681.989
|
627.200 |
528.405 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
117.769 |
111.601 |
|
|
Other Current Liabilities |
|
|
109.506 |
|
|
Provisions |
33.158
|
25.608 |
12.704 |
|
Total
Current Liabilities |
216.688
|
143.377 |
233.811 |
|
|
Net Current Assets |
465.301
|
483.823 |
294.594 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
770.757 |
754.248 |
566.110 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1473.043 |
1312.351 |
1245.156 |
|
|
|
Other Income |
43.452 |
23.227 |
15.535 |
|
|
|
TOTAL (A) |
1516.495 |
1335.578 |
1260.691 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
104.063 |
38.550 |
50.444 |
|
|
|
Consumption of Raw Materials |
806.872 |
839.742 |
796.045 |
|
|
|
Expenses |
322.306 |
311.258 |
268.650 |
|
|
|
TOTAL (B) |
1233.241 |
1189.550 |
1115.139 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
283.254 |
146.028 |
145.552 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
13.976 |
33.753 |
28.405 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
269.278 |
112.275 |
117.147 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
40.451 |
41.762 |
38.092 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
228.827 |
70.513 |
79.055 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
84.254 |
27.075 |
29.016 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
144.573 |
43.438 |
50.039 |
|
|
|
|
|
|
|
|
|
Add |
Excess Provision of Income Tax for earlier years written back |
-- |
-- |
1.226 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
250.950 |
207.512 |
156.247 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
14.457 |
-- |
-- |
|
|
|
Interim Dividend |
28.000 |
-- |
-- |
|
|
|
Tax on Dividend |
4.758 |
-- |
-- |
|
|
BALANCE CARRIED
TO THE B/S |
348.308 |
250.950 |
207.512 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
505.441 |
NA |
365.007 |
|
|
TOTAL EARNINGS |
505.441 |
NA |
365.007 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
514.714 |
NA |
417.232 |
|
|
|
Stores & Spares |
0.466 |
NA |
2.040 |
|
|
|
Capital Goods |
21.220 |
NA |
20.069 |
|
|
TOTAL IMPORTS |
536.400 |
NA |
439.341 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
72.29 |
21.72 |
25.02 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
9.53
|
3.25 |
3.97 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
15.53
|
5.37 |
6.35 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
23.56
|
7.91 |
9.94 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.55
|
0.23 |
0.31 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.32
|
1.89 |
1.98 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.15
|
4.37 |
2.26 |
LOCAL AGENCY FURTHER INFORMATION
Operations:
The year had been the best in the history of the company so far and the
Directors are hopeful that further improved results would be posted in the
coming year. During the year, the company’s net sales continued to increase as
compared with that of the previous year by Rs. 160.700 Millions and the Profit
before tax also increased substantially to about Rs. 228.800 Millions as
against Rs. 70.500 Millions in the previous year.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U20299WB1994PLC064386 |
|
Name of the
company |
MERINO PANEL PRODUCTS LIMITED |
|
Address of the
registered office or of the principal place of business in |
|
|
This form is for |
Creation of
Charge |
|
Type of charge |
Others |
|
Particular of
charge holder |
Axis Bank Limited, 4/10, OPG House, |
|
Nature of
instrument creating charge |
Deed of Guarantee |
|
Date of
instrument Creating the charge |
21.05.2011 |
|
Amount secured by
the charge |
Rs. 25.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest As per sanction
letter no. AXISB/DEL/SMEC/2010-11/15076 DATED 22.02.2011 to be amended form
time to time Terms of
Repayment As per sanction
letter no. AXISB/DEL/SMEC/2010-11/15076 DATED 22.02.2011 to be amended form
time to time Margin As per sanction letter
no. AXISB/DEL/SMEC/2010-11/15076 DATED 22.02.2011 to be amended form time to
time Extent and
Operation of the charge Extent and
Operation – 100% Others The above is to
secure the following credit facilities granted by the bank to Merion Services
Limited:- Cash Credit : Rs.
10.000 Millions Term Loan : Rs.
5.000 Millions Bank Guarantee:
Rs. 10.000 Millions |
|
Short particulars
of the property charged |
Corporate
Guarantee of the Company. |
Fixed Assets
·
·
·
· Other Building,
· Plant And Machinery,
· Electrical Fittings
· Furniture,
· Vehicles
· Office Equipment
AS PER WEBSITE
PROFILE:
The two primary areas of operation for the Merino Group are interior
solutions and agro business.
In interior solutions the group started with by providing the furniture
and panel industry with products for home, retail and office decor. The first
product launched in 1974 was plywood which made a name for itself in product
quality and company service. The group then diversified into high pressure
decorative laminates with a manufacturing unit at Hapur near
The specialty of the group is to continuously release new products in
keeping with international trends and market demand. Merino has, over the
years, been an innovator of quality products which have increasingly found
favor with architects and interior designers by complementing their creative
needs.
The group adopts an integrated approach to all its endeavors. It offers
customers the complete range - from raw material to finished product. Today
Merino holds the distinction of being the largest manufacturer and highest
exporter of laminates in
The same integrated approach was adopted for the agro business. Starting
with cold storage, the group integrated both backwards and forwards into
farming, biotechnology and food processing. Today it has ventured into the FMCG
market with its flagship product - Vegit Potato Flakes.
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] 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.44.57 |
|
|
1 |
Rs.71.75 |
|
Euro |
1 |
Rs.62.60 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
|
51 |
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.