MIRA
INFORM REPORT
|
Report Date : |
18.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
BP ERGO LIMITED (w.e.f.2004) |
|
|
|
|
Formerly Known
As : |
BLOW PLAST ERGONOMICS LIMITED |
|
|
|
|
Registered
Office : |
K -52, MIDC, Hingna Road, Nagpur- 440016, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
06.10.2000 |
|
|
|
|
Com. Reg. No.: |
11-129024 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 9.722 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U36101MH2000PLC129024 |
|
|
|
|
Legal Form : |
A closely held public limited liability company |
|
|
|
|
Line of Business
: |
Manufacturer of a wide range of products from modular workstation and
chairs to carpets. |
|
|
|
|
No. of Employees
: |
500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1600000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. Trade relations
are reported as fair. Business is active. Payments are reported to be regular
and as per commitments. The company can be considered normal for business dealings at usual
trade terms and condition. |
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 (GENERAL INFORMATION)
|
Name : |
Mr. Umesh |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-7104-237115/16 |
|
Date : |
17.06.2011 |
LOCATIONS
|
Registered Office/ Factory : |
K -52, MIDC, Hingna Road, Nagpur- 440016, Maharashtra, India |
|
Tel. No.: |
91-7104- 237115/ 16 |
|
Fax No.: |
91-7140- 237619 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
25000 Sq. Ft. |
|
Location : |
Owned |
|
|
|
|
Head Office : |
DGP House, 3rd Floor, 88C |
|
Tel No.: |
91-22-66195500 |
|
Fax No.: |
91-22-66603586 |
|
|
|
|
Overseas Office : |
7/F, Allied |
DIRECTORS
AS ON 01.07.2010
|
Name : |
Mrs. Radhika Dilip Piramal |
|
Designation : |
Director |
|
Address : |
Piramal House, 61, |
|
Date of Birth/Age : |
27.05.1978 |
|
Date of Appointment : |
08.01.2008 |
|
DIN No : |
02105221 |
|
|
|
|
Name : |
Ms. Aparna Dilip Piramal |
|
Designation : |
Director |
|
Address : |
Flat No.301, A Wing, 3rd Floor, Suneeta Building, Opposite WIaa
Club, WW9, B.G Kher Marg, Malbar Hill, Mumbai- 400006, Maharashtra, India |
|
Date of Birth/Age : |
05.02.1976 |
|
Date of Appointment : |
09.12.2002 |
|
DIN No : |
01667835 |
|
|
|
|
Name : |
Ms. Gita Piramal |
|
Designation : |
Director |
|
Address : |
Flat No.301, A Wing, 3rd Floor, Suneeta Building, Opposite
WIaa Club, WW9, B.G Kher Marg, Malbar Hill, Mumbai- 400006, Maharashtra,
India |
|
Date of Birth/Age : |
04.09.1954 |
|
Date of Appointment : |
18.04.2005 |
|
DIN No : |
01080602 |
|
|
|
|
Name : |
Mr. Ravi Chandru Raheja |
|
Designation : |
Director |
|
Address : |
Raheja House 53A, Palihill, Bandra, Mumbai- 400050, |
|
Date of Birth/Age : |
23.09.1971 |
|
Date of Appointment : |
23.03.2007 |
|
DIN No : |
00028044 |
|
|
|
|
Name : |
Mr. Gulu Mirchandanil |
|
Designation : |
Director |
|
Address : |
131 Tahaneeheights, D Block, |
|
Date of Birth/Age : |
12.06.1943 |
|
Date of Appointment : |
23.03.2007 |
|
DIN No : |
00026664 |
|
|
|
|
Name : |
Mr. Nabankur A Gupta |
|
Designation : |
Director |
|
Address : |
11 Jayshree, 75 Worli Seafce, Worli, Mumbai- 400030, |
|
Date of Birth/Age : |
10.05.1948 |
|
Date of Appointment : |
23.03.2007 |
|
DIN No : |
00020125 |
|
|
|
|
Name : |
Mr. Rakesh Kapoor |
|
Designation : |
Managing Director |
|
Address : |
1203 A, Wing BR |
|
Date of Birth/Age : |
27.04.1967 |
|
Date of Appointment : |
01.06.2007 |
|
DIN No : |
00090593 |
|
|
|
|
Name : |
Mr. Anil Khandelwal |
|
Designation : |
Director |
|
Address : |
Flat 11-A, Woodlands Apartment, Dr. G Deshmukh Marg, Mumbai- 400026, |
|
Date of Birth/Age : |
16.03.1948 |
|
Date of Appointment : |
24.04.2009 |
|
DIN No : |
00005619 |
KEY EXECUTIVES
|
Name : |
Mr. Umesh |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 01.07.2010
|
Names of Shareholders |
|
No. of Shares |
|
Gita Piramal |
|
923667 |
|
Shalini Piramal |
|
27364 |
|
Ravindra Vithaldas |
|
1200 |
|
Sanjeev Vinodchandra |
|
892 |
|
Hemang R Maniar |
|
557 |
|
Rajnikant Vandravan |
|
502 |
|
Bank of |
|
264 |
|
Ramesh Raghunandan |
|
480 |
|
R Rajesh |
|
400 |
|
Heena Varaiya |
|
390 |
|
Laherchand Lakhanishamji |
|
348 |
|
Anant Bhalchandra Kh |
|
334 |
|
Niranjan Javerilal K |
|
307 |
|
Deepak Chhotalal Shechhotlal |
|
279 |
|
Amrex Marketing Private Limited, India |
|
222 |
|
Shireen Jamsetjee Jejamsetjee |
|
72 |
|
Nalin V Shah |
|
72 |
|
Dwar Software Limited, India |
|
48 |
|
Sarosh Micnocher Mino |
|
50 |
|
Homi B Ranji |
|
48 |
|
Ethel J Pereira |
|
48 |
|
Premji Velji |
|
66 |
AS ON 01.07.2010
|
Category |
Percentage |
|
Nationalized or
Other Banks |
0.04 |
|
Mutual Funds |
0.03 |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
0.02 |
|
Bodies corporate |
0.07 |
|
Directors or relatives of Directors |
95.01 |
|
Other top fifty shareholders |
4.83 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of a wide range of products from modular workstation and
chairs to carpets. |
||||||||
|
|
|
||||||||
|
Products : |
|
PRODUCTION STATUS AS ON 31.03.2010
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Plant at Nagpur |
|
|
|
|
|
Computer Station / Modular Workstation / Cabin / Workstation Cluster |
Nos. |
250000 |
125000 |
14508 |
|
Furniture of other Materials such as case goods, Pedestals etc. |
Nos. |
312000 |
62000 |
3045 |
|
Swivel Seats and Variable Height Adjustment |
Nos. |
300000 |
10000 |
271 |
|
Plant at
Nalagarh |
|
|
|
|
|
Modular and Computer work station, Lab , School, Hospitality, Marine
and Allied Furniture / Case Goods / Pedastals / Swivel Seats and Chairs |
Nos. |
435000 |
435000 |
-- |
Notes:
The installed
capacities mentioned above have been determined by the Company's technical
officials and have been accepted by the auditors without verification.
GENERAL INFORMATION
|
No. of Employees : |
500 (Approximately) |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Bankers : |
·
UTI Bank Limited, Fort Branch, Universal
Insurance Building, Sir P. M. Road, Fort, Mumbai-400001, Maharashtra, India ·
Central Bank of India, Corporate Finance Branch,
CBI Building, 1st Floor, M. G. Road, Fort, Mumbai-400023,
Maharashtra, India |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Facilities : |
Notes: (a)
Cash Credit facility from banks is secured by way
of hypothecation of all current assets ranking pari-passu and second
pari-passu charge by way of equitable mortgage of land with structure in
Nagpur Industrial Area and all fixed assets of the Company. (b)
Vehicle finance loan from bank is secured by
hypothecation of specific assets purchased under loan.
|
|
|
|
|
Banking
Relations : |
|
|
|
|
|
Auditors : |
|
|
Name : |
G. M. Kapadia and Company Chartered Accountant |
|
Address : |
Tamarind House, 36-B, Tamarind Lane, Fort, Mumbai-400001, Maharashtra,
India |
|
|
|
|
Associates/Subsidiaries : |
Trimode Properties private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs. 10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
972201 |
Equity Shares |
Rs.10/- each |
Rs. 9.722 Millions |
|
|
|
|
|
Note:
Of the above,
324,060 Equity Shares of Rs. 10 each were issued for a consideration other than
cash to the Shareholders of Kemp and Company Limited pursuant to the Scheme of
Arrangement entered with Kemp and Company Limited
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 |
9.722 |
9.722 |
9.722 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
399.618 |
399.070 |
325.187 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
409.340 |
408.792 |
334.909 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
74.106 |
77.072 |
79.475 |
|
|
2] Unsecured Loans |
53.329 |
55.423 |
58.289 |
|
|
TOTAL BORROWING |
127.435 |
132.495 |
137.764 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
536.775 |
541.287 |
472.673 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
249.379 |
124.495 |
140.159 |
|
|
Capital work-in-progress |
6.754 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.002 |
|
|
DEFERREX TAX ASSETS |
1.690 |
4.930 |
5.990 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
145.687
|
128.675
|
171.214 |
|
|
Sundry Debtors |
409.479
|
497.321
|
469.346 |
|
|
Cash & Bank Balances |
141.738
|
137.853
|
48.138 |
|
|
Other Current Assets |
2.820
|
0.533
|
0.000 |
|
|
Loans & Advances |
70.718
|
53.670
|
70.392 |
|
Total
Current Assets |
770.442
|
818.052 |
759.090 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
421.384
|
312.537 |
186.011 |
|
|
Other Current Liabilities |
42.032
|
75.375
|
231.878 |
|
|
Provisions |
28.074
|
18.278
|
14.679 |
|
Total
Current Liabilities |
491.490
|
406.190 |
432.568 |
|
|
Net Current Assets |
278.952
|
411.862
|
326.522 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
536.775 |
541.287 |
472.673 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1104.889 |
1677.051 |
1890.292 |
|
|
|
Service Charges |
18.773 |
23.151 |
36.190 |
|
|
|
Commission |
0.000 |
5.739 |
21.425 |
|
|
|
Other Income |
30.105 |
37.229 |
22.417 |
|
|
|
TOTAL (A) |
1153.767 |
1743.170 |
1970.324 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold and processing charges |
678.155 |
987.543 |
1098.300 |
|
|
|
Employee Cost |
136.357 |
161.335 |
160.752 |
|
|
|
Manufacturing, Administrative and Other
Expenses |
223.016 |
290.613 |
330.784 |
|
|
|
Sales Tax (Net) |
66.075 |
101.042 |
118.677 |
|
|
|
TOTAL (B) |
1103.603 |
1540.533 |
1708.513 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
50.164 |
202.637 |
261.811 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
11.706 |
17.016 |
21.785 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
38.458 |
185.621 |
240.026 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
23.006 |
25.547 |
26.176 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
15.452 |
160.074 |
213.850 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
3.531 |
63.442 |
75.589 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
11.921 |
96.632 |
138.261 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
334.172 |
269.952 |
168.266 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
1.193 |
9.663 |
13.826 |
|
|
|
Dividend |
9.722 |
19.444 |
19.444 |
|
|
|
Tax on Dividend |
1.652 |
3.305 |
3.305 |
|
|
BALANCE CARRIED
TO THE B/S |
333.526 |
334.172 |
269.952 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
4.589 |
18.108 |
11.087 |
|
|
|
Commission Earnings |
0.000 |
5.739 |
21.425 |
|
|
TOTAL EARNINGS |
4.589 |
23.847 |
32.512 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
7.302 |
31.087 |
39.198 |
|
|
|
Stores & Spares |
0.356 |
1.352 |
0.696 |
|
|
|
Capital Goods |
9.216 |
0.299 |
0.587 |
|
|
|
Others |
0.000 |
3.457 |
59.475 |
|
|
TOTAL IMPORTS |
16.874 |
36.195 |
99.956 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
12.26 |
99.40 |
142.21 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
1.03
|
5.54 |
7.02 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.40
|
9.54 |
11.31 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.51
|
16.89 |
23.62 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04
|
0.39 |
0.64 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.51
|
1.32 |
1.70 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.57
|
2.01 |
1.75 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS
(Rs.
in millions)
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Sundry Creditors |
|
|
|
|
-
For Goods and Expenses |
371.738 |
312.537 |
186.011 |
|
-
For Capital Items |
49.646 |
0.000 |
0.000 |
|
Total |
421.384 |
312.537 |
186.011 |
PERFORMANCE
The total income
of the Company for the year at Rs.1214.200 millions was lower as compared to
previous year (Rs.1865.000 millions). Profit after tax at Rs.11.900 millions
was also lower as compared to previous year (Rs.96.600 millions). This was
mainly on account of global downturn, recessionary effect and depressed market
conditions.
The Company
introduced several new products in the market during the year. The new range
includes XO a desk based system, E2 a new tile based system, Education
Furniture, Compactors (Storage). With this company has further strengthened its
portfolio which is both modern and world class.
All the new
products have been well received by members of the architectural community as
well as the end users. Development of ‘green’ or ‘environmentally-friendly’
products is one of the most important issue facing manufacturing companies in
India today. The Company has established a new manufacturing facility at
Nalagarh, Himachal Pradesh, which commenced commercial production effective 29th
March, 2010. This is first "Green" Furniture manufacturing Facility
in Asia Pacific.
OUTLOOK
The environment is
challenging but the company is hopeful that with new products and the new
markets being addressed it will manage to post better results. The company will
continue to invest in new products and new technologies to take full advantage
of any upturn that may be seen in the coming quarters.
FORM 8
|
This form is for |
Modification of
charge |
||||||||||||||||||||
|
Charge
identification number of the modified |
90143626 |
||||||||||||||||||||
|
Corporate
identity number of the company |
U36101MH2000PLC129024 |
||||||||||||||||||||
|
Name of the
company |
EP ERGO LIMITED |
||||||||||||||||||||
|
Address of the
registered office or of the principal place of business in |
K -52, MIDC, |
||||||||||||||||||||
|
Type of charge |
Immovable
property Book Debts Movable Property Others |
||||||||||||||||||||
|
Particular of
charge holder |
Corporate Finance Branch, E-Mail: adlalwani@rediffmail.com |
||||||||||||||||||||
|
Nature of
description of the instrument creating or modifying the charge |
Equitable
mortgage |
||||||||||||||||||||
|
Date of
instrument Creating the charge |
08.02.2008 |
||||||||||||||||||||
|
Amount secured by
the charge |
Rs.500.000
Millions |
||||||||||||||||||||
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As stipulated by
bank from time o time Terms of Repayment As stipulated by
bank from time to time Margin As stipulated by
bank from time to time Extent and Operation of the charge First pari passu
charge (present and future) = Total Limited Limit Rs.500.000 Millions
Others As stipulated by
bank from time to time |
||||||||||||||||||||
|
Short particulars
of the property charged |
First pari passu charge
(Present and future) – (1) Hypothecation of all current assets including all
type of stock / goods / inventories and book debts and receivable and other
movable assets 1) EMG of all
that land know as plot No. K -52, MIDC, Hingna Road, Nagpur industrial area,
within the village limits of nildoh and outside the limits of Nagpur
municipal corporation in the rural area Taluka and registered sub- district
Hingna, District and Regt. District Nagpur, with all the fixed assets of the
company |
||||||||||||||||||||
|
Date of latest
modification prior to the present modification |
01.11.2007 |
||||||||||||||||||||
|
Particulars of
the present modification |
By this
consortium limit remain same Rs.500.000 Millions continued security as given
by original charge as well as by modification i. e. first pari pasu charge on
current assets including all stock and book debts and other movable assets
EMG- First charge in favour of Axis Bank for their term loan for
Amount=50.000 Millions and second charge for working capital based loan total
limit Rs.500.000 Millions (Central Bank of India= Rs.257.500 Millions and
Axis Bank= Rs.175.000 Millions, IDBI=Rs.67.500 Millions ) |
Fixed Assets
- Building
- Plant and Machinery
- Equipments
- Computers
- Computer- Software
- Moulds
- Furniture and fixture
- 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.44.93 |
|
|
1 |
Rs.72.42 |
|
Euro |
1 |
Rs.63.62 |
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 |
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 |
|
49 |
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.