MIRA
INFORM REPORT
|
Report Date : |
23.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
RAVI TECHNOFORGE PRIVATE LIMITED (w.e.f. 19.05.2009) |
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Formerly Known As : |
SAURASHTRA IRON FORGING PRIVATE LIMITED |
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Registered
Office : |
Survey No. 211, Plot No. 7/8, Veraval (Sharpar) Industrial Area, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
22.02.1990 |
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Com. Reg. No.: |
04-13398 |
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Capital
Investment / Paid-up Capital : |
Rs.62.877 Millions |
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CIN No.: [Company Identification
No.] |
U27100GJ1990PTC013398 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
RKTS01189G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturing of Bearing Races, Auto Parts and Other Forged Components
with CNC Finished Turning. |
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No. of Employees
: |
157 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (45) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 470000 |
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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 dealing 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 : |
Mr. Alpesh Gandhi |
|
Designation : |
Accounts Department |
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Date : |
21.07.2011 |
LOCATIONS
|
Registered
Office/ Factory : |
Survey No. 211, Plot No. 7/8, Veraval (Sharpar) Industrial Area, |
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Tel. No.: |
91-2827-252193/ 252194/ 252463 |
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Fax No.: |
91-2827-252894 |
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E-Mail : |
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Website : |
DIRECTORS
As on : 30.09.2010
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Name : |
Mr. Amrutlal Khimjibhai Bharadia |
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Designation : |
Director |
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Address : |
Ronak, 6, Ashtron Society, Plot - 131, |
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Date of
Birth/Age : |
17.10.1951 |
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Date of
Appointment : |
22.02.1990 |
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Name : |
Mrs. Rajanben Amrutlal Bharadia |
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Designation : |
Director |
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Address : |
Ronak, 6 Ashtron Society, Plot No. 131, |
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Date of Birth/Age
: |
26.10.1954 |
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Date of
Appointment : |
10.04.2004 |
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Name : |
Rajeshkumar Khimjibhai Bharadia |
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Designation : |
Director |
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Address : |
Raj, 138-Ashtron Society, |
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Date of
Birth/Age : |
23.11.1973 |
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Date of
Appointment : |
31.03.2008 |
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Name : |
Mr. Kunjan Rajesh Bharadia |
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Designation : |
Director |
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Address : |
138, Ashtron Society, Road - 5, Near |
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Date of
Birth/Age : |
01.06.1976 |
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Date of Appointment
: |
31.03.2008 |
KEY EXECUTIVES
|
Name : |
Mr. Chetan Gandhi |
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Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on : 30.09.2010
|
Names of Shareholders |
|
No. of Shares (Equity) |
|
Amrutlal K Bharadia |
|
1445139 |
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Shantilal Baradia |
|
22600 |
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Jagdish Bharadia |
|
191100 |
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Rajeshbhai Bharadia |
|
1572716 |
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Rajanben Amrutlal Bharadia |
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1124962 |
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Hansaben Bharadia |
|
167850 |
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Chandrika Valambia |
|
7000 |
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Ranmalbhai Khunti |
|
12250 |
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Maherndrabhai Dasani |
|
7000 |
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Ratilal G. Panchasara |
|
10500 |
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Narendra Valambia |
|
10500 |
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Harishbhaio Vaghadia |
|
7000 |
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Kunjaben Bharadia |
|
714400 |
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Amrutlal K Bharadia - HUF |
|
238072 |
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Anjali Bharadia |
|
180500 |
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Anitabren Bharaqdia |
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136022 |
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Chandravadan Gajjar |
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50002 |
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Harkant Papatilal Anadkal |
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45001 |
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Kirtiben V. Vadagama |
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16300 |
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Vasumatiben Vadgama |
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20002 |
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Vimalbhai Vadgama |
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30052 |
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Kishorbhai Khambhayata |
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184000 |
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Ramniklal Shamji |
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10001 |
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Hemantilal K. Bakranla |
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1 |
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Kishorbhai H. Bokranla |
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1 |
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Vrajitai Govindbhai Kharecha |
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1 |
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Manojbhai Vadilal Gandhi |
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1 |
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Ishwarlal J. Jogani |
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1 |
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Jeevantai J Jagani |
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1 |
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Dhirajtai G Hirapara |
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1 |
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Total |
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6202976 |
As on : 30.09.2010
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Names of Shareholders |
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No. of Shares (Preference) |
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Rajeshbhai Bharadia |
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850000 |
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Kunjanben R. Bharadia |
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850000 |
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Vakil Yadav |
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1052530 |
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Deepak Deade |
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659750 |
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Naresh Sonar |
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500200 |
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Total |
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3912480 |
As on : 30.09.2010
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Category |
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Percentage |
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Directors or relatives of directors |
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89.67 |
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Others |
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10.33 |
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Total
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|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing of Bearing Races, Auto Parts and Other Forged Components
with CNC Finished Turning. |
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Export of : |
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Country : |
·
Germany ·
USA ·
France |
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Import of : |
·
Parts |
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Country : |
·
China |
PRODUCTION STATUS (AS ON 31.03.2010)
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Particulars |
Unit |
Installed Capacity |
Actual Production |
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Forged Races (Inner and Outer) |
Nos. |
3600000 |
3438467 |
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Turned Races (Inner and Outer) |
Nos. |
3340749 |
GENERAL INFORMATION
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Customers : |
· Manufacturer · Others |
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No. of Employees : |
157 (Approximately) |
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Bankers : |
·
State Bank of Commercial Branch, Noble House, Near Jalaram Petrol Pump, Kalawad, ·
Bank of Bhakti Nagar (SSI), 7/11, Bhaktinagar Station Plot, ·
HDFC Bank Limited |
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Facilities : |
Note: Loan No.1, 2 3 and 4 are secured by hypothecation of vehicles. Working Capital limits No. 2 and 3 are secured by hypothecation of stocks and book debts. Loan No. 5,6,7,8,9,10 and 11 are secured by hypothecation of plant and machinery and equitable mortgaged of factory land and building. All Loans are secured by personal guarantee of directors of the company.
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Ranpura Desai and Company Chartered Accountant |
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Address : |
2nd Floor, Moti Tanki Chowk, Rajkot – 360001, Gujarat,
India |
CAPITAL STRUCTURE
(AS ON 31.03.2010)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
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|
3000000 |
Equity Share |
Rs.10/- each |
Rs.30.000 Millions |
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4000000 |
Redeemable Preference Shares |
Rs. 10/- each |
Rs.40.000 Millions |
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Total |
|
Rs.70.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2375238 |
Equity Shares |
Rs.10/- each |
Rs.23.752
Millions |
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Note: Out of above 1. 5,00,000 Equity Shares of Rs.10/- each were
allotted as fully paid up for consideration otherwise than cash. 2. 7,50,000 Shares of Rs.10/- each were
allotted as fully paid up by way of bonus shares by capitalization of
profits. |
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1700000 |
8% Non Cumulative Redeemable/ Optionally
Convertible Preference Shares |
Rs.10 /-
each |
Rs.17.000
Millions |
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|
Note: Of the above: 17,00,000 Preferences Shares of Rs.10/- each
fully paid up are allotted for consideration otherwise than cash. The terms
of issue of these shares are as follows: 8% Non Cumulative Preferences Shares are
issued with voting power and with option to the company to redeem at par
after five years but not later than eight years from the date of allotment or
convert in to the equity shares of Rs.10 /- each fully paid up at Rs.25
(including of Rs.15 per share). |
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2212480 |
6% Non Cumulative Redeemable Preference
Shares o Rs.10 each fully paid up without voting power and redeemable within 20
any time at the option of Board of Directors of the company. |
Rs.10 /-
each |
Rs.22.124
Millions |
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Total |
|
Rs.62.877 Millions |
AS ON 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11000000 |
Equity Share |
Rs.10/- each |
Rs.110.000 Millions |
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4000000 |
Preference Shares |
Rs. 10/- each |
Rs.40.000 Millions |
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Total |
|
Rs.150.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6202976 |
Equity Shares |
Rs.10/- each |
Rs.62.029
Millions |
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|
|
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|
3912480 |
Preference Shares |
Rs.10/- each |
Rs.39.124
Millions |
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|
|
|
|
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Total |
|
Rs.101.154 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 |
62.877 |
50.457 |
39.500 |
|
|
2] Share Application Money |
2.800 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
52.150 |
44.737 |
21.591 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
117.827 |
95.194 |
61.091 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
235.809 |
258.621 |
122.884 |
|
|
2] Unsecured Loans |
10.077 |
11.274 |
14.560 |
|
|
TOTAL BORROWING |
245.886 |
269.895 |
137.444 |
|
|
DEFERRED TAX LIABILITIES |
2.401 |
2.467 |
1.320 |
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|
|
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|
|
|
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TOTAL |
366.114 |
367.556 |
199.855 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
165.309 |
156.637 |
117.792 |
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Capital work-in-progress |
39.479 |
14.240 |
0.147 |
|
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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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 |
80.177
|
85.797
|
53.693
|
|
|
Sundry Debtors |
143.790
|
141.583
|
63.278
|
|
|
Cash & Bank Balances |
26.483
|
0.590
|
0.324
|
|
|
Other Current Assets |
2.917
|
2.758
|
0.000
|
|
|
Loans & Advances |
0.485
|
52.107
|
12.083
|
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Total
Current Assets |
253.852
|
282.835
|
129.378 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
86.453
|
72.856
|
40.195
|
|
|
Other Current Liabilities |
1.677
|
12.066
|
5.106
|
|
|
Provisions |
7.468
|
1.494
|
2.509
|
|
Total
Current Liabilities |
95.598
|
86.416
|
47.810 |
|
|
Net Current Assets |
158.254
|
196.419
|
81.568 |
|
|
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|
MISCELLANEOUS EXPENSES |
2.454 |
0.260 |
0.348 |
|
|
DEFREEF FORWORD COMTACT PREMIUM |
0.618 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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TOTAL |
366.114 |
367.556 |
199.855 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
|
|
|
|
|
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|
Income |
259.596 |
435.313 |
233.772 |
|
|
|
Other Income |
10.812 |
9.430 |
2.915 |
|
|
|
TOTAL (A) |
270.408 |
444.743 |
236.687 |
|
|
|
|
|
|
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Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
215.794 |
371.327 |
201.699 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
215.794 |
371.327 |
201.699 |
|
|
|
|
|
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
54.614 |
73.416 |
34.988 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
27.479 |
24.711 |
10.513 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
27.135 |
40.705 |
24.475 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
22.213 |
20.486 |
8.156 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX
(E-F) (G) |
4.922 |
28.219 |
16.319 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.864 |
10.359 |
5.231 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
3.058 |
17.860 |
11.088 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
37.589 |
19.729 |
NA |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
40.648 |
37.589 |
19.729 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
24.996 |
188.401 |
41.495 |
|
|
TOTAL EARNINGS |
24.996 |
188.401 |
41.495 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
1.174 |
9.548 |
2.728 |
|
|
TOTAL IMPORTS |
1.174 |
9.548 |
2.728 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
-- |
3.54 |
-- |
|
|
Particulars |
|
|
31.03.2011 |
|
Sales Turnover (Approximately) |
|
|
621.000 |
|
|
|
|
|
The above information has been parted by Mr. Alpesh Gandhi.
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
1.13 |
4.02
|
4.68
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.89 |
6.48
|
6.98
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.44 |
6.42
|
6.60
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04 |
0.30
|
0.27
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.89 |
3.74
|
3.03
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.65 |
3.27
|
2.71
|
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
(Rs. In Millions) |
||
|
Sundry Creditor |
|
|
|
|
Creditors for Expenses |
10.284
|
15.436
|
5.007 |
|
Creditors for Fixed assets |
2.199
|
14.240
|
0.455 |
|
Creditors for Job Work |
3.560
|
3.348
|
31.762 |
|
Creditors for Transportations Expenses |
0.784
|
0.579
|
0.409 |
|
Creditors for Raw Materials |
63.242
|
38.954
|
0.383 |
|
Other Creditors |
0.094
|
0.094
|
1.873 |
|
|
|
|
|
|
Total |
86.453
|
72.654
|
40.195 |
REVIEW OF
OPERATIONS
The Company has
recorded sales turnover of Rs. 287.611 millions as compared to corresponding previous
year’s turnover of Rs. 483.458 millions. The downfall in the turnover is due to
overall recession in the industry in which the company is engaged. Total profit
before depreciation, taxation and other items was Rs. 54.098 millions as
compared to corresponding amount of Rs. 70.375 millions of previous year.
Likewise, Net Profit before and after taxation was Rs. 4.922 millions and 3.058
millions respectively as compared to previous Net Profit before and after
taxation of Rs. 27.844 millions and of Rs. 17.860 millions. The Directors
expects further increase in the sales and overall profitability in the years to
come.
FINANCIAL REVIEW:
The company has,
in order to meet the increasing requirement of funds to cope with expansion
program, increased the paid up capital of the Company to Rs. 62.877 millions
from Rs. 50.456 millions of previous year. During the year the Board of
Directors have allotted 67,000 Equity Share of Rs. 10 each at a premium of Rs.
65.00 each and 1.175 millions 6% non cumulative redeemable preference shares of
Rs. 10.00 each.
FORM 8
|
This form is for |
Modification of charge |
|
Charge
identification number of the modified |
10151620 |
|
Corporate
identity number of the company |
U27100GJ1990PTC013398 |
|
Name of the
company |
SAURASHTRA IRON FORGING PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Survey No.211, Plot No 7-8, Veraval
(Shahpur) Industrial Area, |
|
Type of charge |
Immovable property |
|
Particular of
charge holder |
State Bank of Commercial Branch, Noble House, Near Jalaram
Petrol Pump, Kalawad Road, Rajkot - 360001, Gujarat, India |
|
Nature of
description of the instrument creating or modifying the charge |
Memorandum relating to Deposit of Title
Deeds for Creation of Charge for Term Loan / Overall Limit of Rs. 272.400
Millions |
|
Date of
instrument Creating the charge |
23.04.2009 |
|
Amount secured
by the charge |
Rs.272.400 Millions |
|
Brief
particulars of the principal terms an conditions and extent and operation of
the charge |
Rate of Interest : Cash Credit : 0.75% above SBAR as against card
rate of 2.00% above SBAR, presently at 13.00% p.a. EPC/FBD/FBP: As per Care rate, presently at
9.50% p.a. Term Loan: 0.75% above SBAR as against card
rate of 2.50% above SBAR, presently at 13.00% p.a. Corporate Loan: One Step higher than
applicable risk rating i.e. 2.50% above SBAR, presently at 14.75% p.a. The interest rates are subject to change
from time to time. Terms of Repayment Cash Credit ,EPC/FBD/FBP: On Demand TL-II:
61 EMI of Rs.200439/- TL-III: 70 EMI of Rs.152744/- TL-IV: 82 EMI of Rs.213415/- TL-V:
69 EMI of Rs.132927/-all above starting from April,2009 Corp. Loan : 24 EMI of Rs.750,000/- each 12 EMI of Rs.10,00,000/-
each TL[New]:
84 Installments, with a moratorium period of 12 month, repayment to
start from April,2010 as under; 24
EMI of Rs.150000/- each,47 EMI of Rs.12,50,000/-, Last Installment of
Rs.1450,000/-. Margin Raw material (Domestic, Imported) : 25% SIP: 25% FG: 25% Receivables-Domestic [cover period upto 180
days] 25% Letter of Credit and Bank Guarantee : Not
Applicable EPC/FBD/FBP : 10% Land
: 50%, Building and Civil Works : 35%, Plant and Machinery : 25%. Extent and operations of the charge The Charge Of The Bank Operates To Cover
Repayment Of Entire Credit Facilities Of Rs.272.400 Millions Comprising Of
Fund Based Working Capital Limits Of Rs.130.000 Millions Which Includes
Epc/Fbd/Fbp Sublimit Of Rs.130.000 Millions and Term Loan Limit Of Rs.112.400
Millions Corporate Loan Of Rs.30.000 Millions Together With Interest,
Discount, Commission, Other Charges And Costs And Expenses Payable Or
Incurred By The Bank. Others Facilities Amt. in Rs. Millions FBWC 130.000 [EPC/FBD/FBP :
Rs.130.000 Millions] TOTAL FBWC 130.000 TL - II 12.200 TL-III 10.500 TL-IV 16.700 TL-V 9.200 Corporate Loan 30.000 TL [New] 63.800 TOTAL 272.400 |
|
Date of latest
modification prior to the present modification |
a) EM of factory Land admeasuring 2312.89
sq. mtrs. with building thereon situated at Plot No.7 and 8 S. No. 211 and
212 (p), Veraval (Shapar), Tal: Kotda Sangini, Dist-Rajkot b) EM of factory Land admeasuring 942.89 sq.
mtrs. with building thereon situated at Plot No. 13 S. No. 211(p) Veraval
(Shapar), Tal: Kotda Sangini, Dist- Rajkot c) EM of land admeasuring 322.55 sq. mtrs
with residential house thereon situated at O.P. No- 48,F.P. No- 472,Ward No-
15, Nanamova |
|
Particulars of
the present modification |
There is no change in Credit Limits of
Rs.272.400 Millions .The present charge is in addition to Hypothecation as
created earlier is now secured by
Equitable Mortgage on immovable properties of the Company and Personal
Property of Guarantor Shri Amrutlal K.
Bharadiya |
FIXED ASSETS;
·
Computer Systems
·
·
Furniture and
Fixtures
·
Lands
·
Office Buildings
·
Plant and
Machineries
·
Vehicles
· Commercial Vehicles
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals have
been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government official
or a family member or close business associate of a Government official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 44.37 |
|
|
1 |
Rs. 72.34 |
|
Euro |
1 |
Rs. 63.87 |
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 |
NO |
|
--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.