MIRA
INFORM REPORT
|
Report Date : |
02.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
SANCIA GLOBAL INFRAPROJECTS LIMITED (18.01.2010) |
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Formerly Known
As : |
GREMACH INFRASTRUCTURE EQUIPMENTS AND PROJECTS LIMITED |
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Registered Office
: |
Diamond Chambers, 4, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
12.06.1991 |
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Com. Reg. No.: |
21-52026 |
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Capital
Investment/ Paid-up Capital: |
Rs. 430.488
Millions |
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|
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CIN No.: [Company Identification
No.] |
L65921WB1991PLC052026 |
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|
Legal Form : |
A Public Limited Liability Company. The company’s Shares are listed on
stock exchange. |
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Line of Business
: |
The Company is engaged in the business of Rental/ Hiring of heavy
construction equipments, Trading and Contract/ Sub –Contract work. |
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No. of
Employees: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 11000000 |
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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.
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 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION DECLINED BY
Management non Co-Operative.
LOCATIONS
|
Registered Office : |
Diamond Chambers, 4, |
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Tel. No.: |
91-33-22521799 |
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E-Mail : |
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Website : |
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Corporate Office : |
I and II Floor, Kiledar
Building, # 1, Opposite MTNL, Near 24 Carat Cinema, S.V. Road, Jogeshwari
(West), Mumbai-400102, Maharashtra, India |
|
Tel. No.: |
91-22-67240000 |
|
Fax No.: |
91-22-67420100 |
DIRECTORS
As on 26.12.2009
|
Name : |
Mr. Raj Rishi Agarwal |
|
Designation : |
Managing Director |
|
Address : |
703, Shiv Parwati Appartment, Andheri (West), Mumbai-400053, |
|
Date of Birth/Age : |
02.12.1969 |
|
Date of Appointment : |
16.08.1997 |
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Name : |
Mr. Ratanlal Tamakhuwala |
|
Designation : |
Chairman cum Managing Director |
|
Address : |
703, Shiv Parwati Appartment, Andheri (West), Mumbai-400053, |
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Date of Birth/Age : |
09.12.1944 |
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Date of Appointment : |
04.04.1998 |
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Name : |
Ms. Mridula Krishna |
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Designation : |
Additional Director |
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Address : |
B-3, Mehawala Apartments, Vile- Parle (West), Mumbai-400056, |
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Date of Birth/Age : |
18.07.1931 |
|
Date of Appointment : |
31.10.2008 |
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Name : |
Mr. Shamsher Singh Sohi |
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Designation : |
Director |
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Address : |
1208 |
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Date of Birth/Age : |
01.01.1951 |
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Date of Appointment : |
30.10.2009 |
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|
Name : |
Mr. Premanth Sharma |
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Designation : |
Additional Director |
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Address : |
CE2, DD Nagar, Gwalior-474020, |
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Date of Birth/Age : |
25.12.1957 |
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Date of Appointment : |
30.10.2009 |
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Name : |
Mr. Anand Hariprasad Agarwal |
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Designation : |
Director |
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Address : |
206, Rajeshela Buildingd, 59, J S Road, C Hira Bazar, Mumbai-400002, |
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Date of Birth/Age : |
05.09.1961 |
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Date of Appointment : |
30.08.2005 |
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Date of Ceasing: |
30.01.2009 |
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|
Name : |
Mr. Prasanta Kumar Mohanty |
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Designation : |
Additional Director |
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Address : |
F 25, LIC Colony, Rajabagicha Balasore-756001, |
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Date of Birth/Age : |
25.01.1973 |
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Date of Appointment : |
30.10.2009 |
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Name : |
Mr. Sashi Kanta Modi |
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Designation : |
Director |
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Address : |
AS 301 Shree Complex 4, Barave Road, Khanndak Para Road, Kalyan
(West), Thane-421302, Maharashtra, India |
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Date of Birth/Age : |
27.12.1961 |
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Date of Appointment : |
30.07.2009 |
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Date of Ceasing: |
30.10.2009 |
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Name : |
Mr. Khaitan M Jiwaraj |
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Designation : |
Director |
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Address : |
43, |
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Date of Birth/Age : |
04.04.1958 |
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Date of Appointment : |
30.12.2005 |
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Date of Ceasing: |
11.08.2009 |
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Name : |
Mr. Uday Raghunath Katkar |
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Designation : |
Additional Director |
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Address : |
B/29, Mahalaxami Welfare Society, Renukanagar, New |
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Date of Birth/Age : |
25.05.1983 |
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Date of Ceasing : |
25.10.2010 |
KEY EXECUTIVES
|
Name : |
Ms. Pooja Pathak |
|
Designation : |
Secretary |
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Address : |
Kandivali (East), Mumbai-400066, |
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Date of Birth/Age : |
02.12.1982 |
|
Date of Appointment : |
09.11.2009 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2011
|
Names of Shareholders |
No. of Shares |
Percentage |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
5,683,636 |
13.20 |
|
|
12,190,133 |
28.32 |
|
|
17,873,769 |
41.52 |
|
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|
Total shareholding of Promoter and Promoter Group (A) |
17,873,769 |
41.52 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
208,363 |
0.48 |
|
|
9,816,925 |
22.80 |
|
|
10,025,288 |
23.29 |
|
|
|
|
|
|
3,005,605 |
6.98 |
|
|
|
|
|
|
7,861,243 |
18.26 |
|
|
3,576,304 |
8.31 |
|
|
706,595 |
1.64 |
|
|
279,839 |
0.65 |
|
|
426,756 |
0.99 |
|
|
15,149,747 |
35.19 |
|
Total Public shareholding (B) |
25,175,035 |
58.48 |
|
Total (A)+(B) |
43,048,804 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts
have been issued |
- |
- |
|
|
- |
- |
|
|
- |
- |
|
|
- |
- |
|
Total (A)+(B)+(C) |
43,048,804 |
100.00 |
(1) Indian
Individuals / Hindu Undivided Family
Individual shareholders holding nominal share
capital up to Rs. 0.100 MillionBUSINESS DETAILS
|
Line of Business : |
The Company is engaged in the business of Rental/ Hiring of heavy
construction equipments, Trading and Contract/ Sub –Contract work. |
GENERAL INFORMATION
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Tarak Nath Datta Chartered Accountant |
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Address : |
87/B, |
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Associates : |
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Wholly Owned Subsidiaries : |
Petrogrema Overseas Private Limited , |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
75000000 |
Equity Shares |
Rs. 10/- each |
Rs. 750.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
43048804 |
Equity Shares |
Rs. 10/-
each |
Rs. 430.488
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 |
430.488 |
152.178 |
152.178 |
|
|
2] Share Application Money |
15.500 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
2447.308 |
1363.552 |
1120.749 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
2893.296 |
1515.730 |
1272.927 |
|
|
LOAN FUNDS |
|
|
|
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|
1] Secured Loans |
624.483 |
505.092 |
154.307 |
|
|
2] Unsecured Loans |
2273.201 |
2948.759 |
3391.980 |
|
|
TOTAL BORROWING |
2897.684 |
3453.851 |
3546.287 |
|
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DEFERRED TAX LIABILITIES |
186.212 |
206.850 |
105.307 |
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|
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TOTAL |
5977.192 |
5176.431 |
4924.521 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1617.714 |
1547.362 |
934.606 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
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|
INVESTMENT |
2277.495 |
2277.495 |
783.279 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
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|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
9.146
|
9.564 |
10.171 |
|
|
Sundry Debtors |
1011.570
|
1074.659 |
916.242 |
|
|
Cash & Bank Balances |
357.184
|
222.074 |
1232.545 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
1942.512
|
1098.125 |
1582.450 |
|
Total
Current Assets |
3320.412
|
2404.422 |
3741.408 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1118.520
|
974.814 |
556.826 |
|
|
Other Current Liabilities |
94.074
|
68.762 |
25.811 |
|
|
Provisions |
92.047
|
102.137 |
71.653 |
|
Total
Current Liabilities |
1304.641
|
1145.713 |
654.290 |
|
|
Net Current Assets |
2015.771
|
1258.709 |
3087.118 |
|
|
|
|
|
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|
MISCELLANEOUS EXPENSES |
66.212 |
92.865 |
119.518 |
|
|
|
|
|
|
|
|
TOTAL |
5977.192 |
5176.431 |
4924.521 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1195.834 |
887.692 |
232.570 |
|
|
|
Income From operations |
1990.087 |
2068.030 |
2356.202 |
|
|
|
Other Income |
36.500 |
10.698 |
33.533 |
|
|
|
TOTAL (A) |
3222.421 |
2966.420 |
2622.305 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase of Goods |
1128.943 |
860.715 |
230.956 |
|
|
|
Operating Expenses |
1681.071 |
1382.903 |
1826.545 |
|
|
|
Employment Cost |
16.638 |
19.716 |
15.010 |
|
|
|
Administrative, Selling and Other Expenses |
70.805 |
62.115 |
45.148 |
|
|
|
Increase/ Decrease in stores and spares |
0.418 |
0.607 |
[0.230] |
|
|
|
Exceptional Items/ Depreciation written back |
0.000 |
0.000 |
[56.243] |
|
|
|
TOTAL (B) |
2897.875 |
2326.056 |
2061.186 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
324.546 |
640.364 |
561.119 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
133.005 |
92.948 |
31.491 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
191.541 |
547.416 |
529.628 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
181.626 |
133.934 |
76.227 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
9.915 |
413.482 |
453.401 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
[14.261] |
150.554 |
81.655 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
24.176 |
262.928 |
371.746 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
755.039 |
512.237 |
158.295 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Dividend- short provision |
4.323 |
17.201 |
15.218 |
|
|
|
Tax on Dividend- short provision |
0.735 |
2.924 |
2.587 |
|
|
BALANCE CARRIED
TO THE B/S |
774.157 |
755.040 |
512.236 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
Basic |
0.011 |
17.28 |
24.43 |
|
|
|
Diluted |
-- |
-- |
23.74 |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2010 |
30.09.2010 |
31.12.2010 |
31.03.2011 |
|
Type |
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
4th
Quarter |
|
Net Sales |
300.850 |
388.190 |
208.450 |
103.760 |
|
Total Expenditure |
192.750 |
412.530 |
145.230 |
247.920 |
|
PBIDT (Excl OI) |
108.100 |
[24.340] |
63.220 |
[144.160] |
|
Other Income |
1.540 |
0.000 |
0.720 |
1.270 |
|
Operating Profit |
109.640 |
[24.340] |
63.940 |
[142.890] |
|
Interest |
21.980 |
44.250 |
21.240 |
31.770 |
|
Exceptional Items |
[81.520] |
0.000 |
0.000 |
[135.390] |
|
PBDT |
6.140 |
[68.590] |
42.700 |
[310.050] |
|
Depreciation |
35.570 |
35.57 |
39.910 |
55.260 |
|
Profit Before Tax |
[29.430] |
[104.160] |
2.790 |
[365.310] |
|
Tax |
0.000 |
0.000 |
0.000 |
11.310 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
[29.430] |
[104.160] |
2.790 |
[376.620] |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
0.000 |
|
Net Profit |
[29.430] |
[104.160] |
2.790 |
[376.620] |
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
0.75
|
8.86 |
14.18 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.83
|
46.58 |
1194.95 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.20
|
10.46 |
9.70 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00
|
0.27 |
0.36 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.45
|
2.37 |
3.30 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.55
|
2.10 |
5.72 |
LOCAL AGENCY FURTHER INFORMATION
Operations
Construction and infrastructure is in a “momentum” growth phase and with
an excellent business model coupled with strong execution capabilities and
thriving order book position, the company is expected to have robust growth in
income and profitability.
Considering the immense potential in the field, the company has entered
into trading in steel and coal. Going forward they anticipate consistent
revenues from this sphere as well.
Performance
The performance of the company during the year has been encouraging.
During the year, Turnover and Net Profit for the year was Rs.3185.920 Millions
and Rs.24.176 Millions as compared to the previous year Rs.2955.722 Millions
and Rs.262.928 Millions. The increase in the Turnover is due to better capacity
utilization, good customer relationship and introduction of new machineries in
the business.
Contingent
Liabilities:
|
Particulars |
31.03.2010 Rs.
In Millions |
|
(a) Contingent Liability not provided for : |
|
|
Bank Guarantees |
6.760 |
|
Estimated amount of contracts remaining to be executed on capital
account and not provided for (Out of which Letter of Credit o/s : 378.537 Millions) |
1447.158 |
|
Corporate Guarantee |
5796.500 |
|
Disputed Dues under Income Tax Act pending in Appeal |
8.757 |
|
During the year search and seizure action u/s132of the income tax act
1961 have been conducted by income tax department as on 23rd June,2009;
However directors of the company do not anticipate any major income tax
demand. |
-- |
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U65921WB1991PTC052026 |
|
Name of the
company |
GREMACH INFRASTRUCTURE EQUIPMENTS AND PROJECTS LIMITED |
|
Address of the
registered office or of the principal place of business in |
Kolkata-700071,
West |
|
This form is for |
Creation of
Charge |
|
Type of charge |
Hypothecation |
|
Particular of
charge holder |
State Bank of |
|
Nature of
instrument creating charge |
Agreement of Loan
for overall limits Agreement of
hypothecation of goods and assets |
|
Date of
instrument Creating the charge |
03.07.2006 |
|
Amount secured by
the charge |
Rs. 489.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
As would be
determined by bank form time to time |
|
Description of
the property charged indicating whether it is a charged on |
Stock in trade Plant and
Machinery Book Debts |
|
Particulars of
the property charged |
All present and future
goods, book debts and all other movable assets of the borrower and of the
company including documents of title to the goods, outstanding moneys,
receivables including receivabels by way of cash assistance and / or cash
incentives under the cash incentive scheme or any other scheme claims
including claims by way of refund of customers/ excise duties under the duty drawback credit scheme of
any other scheme, bills, invoices |
Fixed Assets:
·
·
Building
·
Earth Moving Equipments
·
Machinery and Equipments
·
Computer
·
Office Equipments
·
Furniture and Fixtures
·
Motor Vehicles
AS PER WEBSITE
History:
They were originally incorporated as Gremach Commerce Private Limited
vide Certificate of Incorporation No. 21-52026 on June 12, 1991 with Registrar
of Companies, West Bengal and subsequently converted into a Public Limited
Company on December 16, 1995 vide fresh Certificate of Incorporation dated
January 12, 1996. The Company was renamed as Gremach Infrastructure Equipments
and Projects Limited with effect from August 9, 2005.
Gremach Infrastructure Equipments and Projects Limited (GIE and PL or Company),
the main activity of the Company is to provide rental of construction
/earthmoving machineries to medium / large construction companies who are
engaged in the business of constructing/building of roads, airports, power
projects, institutional and industrial complexes, multiplexes and residential
buildings and other related infrastructural activities chiefly catering to
Public Sector undertakings, private sector, CPWD and various national and
international government aided projects
Management:
Board of Directors
Mr. Ratan Lal Tamakhuwala is the Chairman of the Group having experience
in managing heavy construction and material handling equipment. He is a
graduate with a rich and varied experience in the coke industry. In 1972 he
joined M/s. Sanjay Udyog – Kolkata and took charge of their associate concern,
M/s. Nirsa Coke Ovens – Dhanbad. He equipped himself with the intricate details
of the technical and manufacturing aspects of coke during his career. He was
earlier associated with Gujarat NRE Coke Limited. He is also an active social
worker, Member of Lions Club, and is in the managing committee of several
social institutes. He is also a member of the committee of CII for community
development.
Mr. Rishi Raj Agarwal
is Vice Chairman and Managing Director of the Group, having experience in the
marketing of renting heavy equipment. Mr. Rishi Raj Agarwal, aged 40
years, is a Commerce graduate and son of Mr. Ratanlal Tamakhuwala. He was
in coal and coke trading since early age especially with Coal India Limited and
BCCL (Bharath Coking Coal Limited). He is in the National Committee of
Confederation of Indian Industries (CII) for surface transport, port, shipping,
roads etc. He is also in the infrastructural committee of FICCI and is an
active member of BAI (Builders Association of India), Indian Road Congress and
Indian Merchant chamber.
Mrs. Mridula Krishan, aged 69 years. She is Non Executive and an
Independent Director of the company. She is having 39 years of experience in
various fields like infrastructure, construction of Roads and transportation,
finance, banking, leasing etc.
Operations, Repair
and Maintenance (OR and M)
Gremach has developed an accounting system to locate savings
opportunities and to track and measure the success of the repair and
maintenance strategies. The Company also has a team of sales and service staff
who have an in-depth knowledge of construction industry and equipment. The
directors bring with them a vast amount of experience in this line of business.
The Company has been able to keep its costs low on account of maintenance,
lower breakdown of equipment and innovation. The Operations Committee and the
Accounts Committee review the performance on a continual basis. GIEPL through
its market intelligence network has information on the projects available, the
terrain, the Contractors bidding for the project, the equipment required for
execution of the contract and the Contractor’s position vis-ŕ-vis the required
equipment etc.
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.44.89 |
|
|
1 |
Rs.73.85 |
|
Euro |
1 |
Rs.64.76 |
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.