MIRA
INFORM REPORT
|
Report Date : |
23.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
PREMIUM ENERGY LIMITED (w.e.f. 14.06.2010) |
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Formerly Known As : |
EVEREST FOOD [INDIA] PRIVATE LIMITED PREMIUM ENERGY TRANSMISSION LIMITED (w.e.f. 22.04.2004) |
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Registered Office : |
Premium House, Mumbai Pune Road, Chinchwad, Pune – 411019, Maharashtra |
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Country : |
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Financials (as on) : |
30.06.2010 |
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Date of Incorporation : |
04.04.1983 |
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Com. Reg. No.: |
11-133199 |
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Capital
Investment / Paid-up Capital : |
Rs.598.566 millions |
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CIN No.: [Company
Identification No.] |
U01119PN1983PLC133199 |
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Legal Form : |
A closely held Public Limited Liability Company |
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Line of Business : |
Manufacturers of Industrial Gearboxes |
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No. of Employees
: |
800 (In office) (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
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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 5500000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and reputed company having satisfactory track.
Trade relations are fair. Business is active. Payments are reported to
usually correct and as per commitments The company can be considered 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.
INFORMATION PARTED BY
|
Name : |
Mr. Rajendra Kulkarni |
|
Designation : |
Assist manager in Accounts |
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Contact No.: |
91-9860090170 |
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Date : |
21.06.2011 |
LOCATIONS
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Registered Office /Factory/ Head Office / Corporate office : |
Premium House, Mumbai Pune Road, Chinchwad, Pune – 411019,
Maharashtra, India |
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Tel. No.: |
91-20-66314100 / 27475141 |
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Fax No.: |
91-20-27450287 / 27472384 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Branch Office : |
·
Ahmedabad ·
·
Pune ·
Chennai ·
Kolkata |
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Factory 1 : |
Unit II , B – 9 And B 10, Falta, Growth Centre, Sector – III, Flats 24
Pgs (South), Parganas – 743 604, West Bengal, India |
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Tel. No.: |
91-3174-222230/31/32/33/37 |
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Fax No.: |
91-3174-222234 |
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E-Mail : |
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Factory 2 : |
G-56/57, MIDC Industrial Area, Chikalthana-431 210, P.B. No. 779, |
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Tel. No.: |
91-240-2485521 |
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Fax No.: |
91-240-2485756 |
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E-Mail : |
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Factory 3 : |
31-P, MIDC Industrial Area, Chikalthana-431 210, |
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Tel. No.: |
91-240-2482858 |
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Fax No.: |
91-240-2482857 |
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Regional office |
Located At: Western Zone Mumbai Ahmedabad Pune Northen Zone: Southern Zone Chennai Eastern Zone Kolkata |
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Representative office: |
Located At: v
v
v
Bilaspur v
Mohali v
v
Jaipur v
v
Rouekela |
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Branch Office: |
Located At: v
Bangalore v
v
v
Ahmadabad v
Pune v
Nagpur |
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Area Representative: |
Door No 55, Rangsamy Layout, Pallamedu, |
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International Dealers: |
Located At: v
v
v
v
v
v
v
v
v
v
v
v
v
PT Couplings company Limited v
v
v
v
UAE v
v
v
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DIRECTORS
As on : 15.09.2010
|
Name : |
Mr. Praveen Sachdev |
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Designation : |
Directors |
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Address : |
601, Phonix House, 91 S, |
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Date of Birth/Age : |
04.04.1945 |
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Date of Appointment : |
04.05.2009 |
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Name : |
Mr. Suniel Nawal |
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Designation : |
Directors |
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Address : |
F-801, 802f, Kalpatru Regency, Phase- 2 , Kalayani Njagar, Pune-411
006, Maharashtra, India |
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Date of Birth/Age : |
02.10.1963 |
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Date of Appointment : |
08.06.2004 |
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Name : |
Mr. Sureshkumar Mamanchand Jain |
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Designation : |
Directors |
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Address : |
159, Siddharth Enclave, Ashram Chowk, Ring Road, New Delhi- 110014,
Delhi, India |
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Date of Birth/Age : |
12.03.1957 |
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Date of Appointment : |
09.11.2006 |
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Name : |
Mr. Tapankumar Makhanlal Chattopadhyay |
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Designation : |
Directors |
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Address : |
Flat No.902 Building C1, Montvertpristine , Kirkee, Pune- 411 020, |
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Date of Birth/Age : |
09.12.1938 |
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Date of Appointment : |
03.05.2007 |
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Name : |
Mr. Karan Thapar |
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Designation : |
Directors |
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Address : |
Flat No604, Dahlia Nyati, Meadow, Kalyani Nagar, Wadgaon, Sheri, Pune-
411 006, |
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Date of Birth/Age : |
20.03.1957 |
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Date of Appointment : |
19.01.2008 |
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Name : |
Mr. Nagaraju Srirama |
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Designation : |
Whole Time Directors |
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Address : |
686, Sri Sadan,10 AMN, 4 Block, Jayanagar, |
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Date of Birth/Age : |
25.05.1960 |
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Date of Appointment : |
04.12.2008 |
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Name : |
Mr. Maninder Singh Chug |
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Designation : |
Manager |
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Address : |
Flat No. 604, Dahlia Nyati Meadows Kalayani, Nagar, Wadgaon, Sheri,
Pune – 411006, Maharashtra, India |
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Date of Birth/Age : |
21.12.1957 |
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Date of Appointment : |
19.01.2008 |
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Date of Ceasing : |
04.12.2008 |
KEY EXECUTIVES
|
Name : |
Mr. Ratanlal Tikaram Goel |
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Designation : |
Directors |
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Address : |
Flat No.201, 202, Vedant Apartment, 1163 Sadashiv Peth, Pune- 411 030,
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Date of Birth/Age : |
09.02.1962 |
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Date of Appointment : |
08.06.2004 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on : 15.09.2010
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Names of Shareholders (Equity Shares) |
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No. of Shares |
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DBH International Limited, New Delhi |
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15776294 |
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Marble Arch Investments PCC Limited, Mauritius |
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10000000 |
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Karan Thapar |
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5 |
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Karam Thapar |
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5 |
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Dallinder Kohli |
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4 |
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Suresh Maman Jain |
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4 |
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S P Saini |
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2 |
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Total |
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25776314 |
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Names of Shareholders (Preference Shares) |
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Grreaves Leasing Finance Limited, India |
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1333034 |
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Grreaves Leasing Finance Limited, India |
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2075000 |
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Total |
|
3408034 |
As on : 15.09.2010
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Equity Share
Breakup |
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Category |
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Percentage of
Holding |
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Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
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38.79 |
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Bodies corporate |
|
61.20 |
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Other top fifty shareholders |
|
0.01 |
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Total
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|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers of Industrial Gearboxes |
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Products : |
·
Worm Gear Boxes ·
Helical Gear Boxes ·
Geared Motors ·
Fluid and Other Couplings ·
Planetary Gearbox ·
·
Transmission Gears
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Exports : |
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Products : |
Gear Boxes |
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Countries : |
·
·
Spain ·
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Imports : |
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Products : |
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Bearings ·
Capital Items |
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Countries : |
·
Singapore ·
Germany |
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Terms : |
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Selling : |
L/C, Cash and Credit |
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Purchasing : |
L/C, Cash and Credit |
PRODUCTION STATUS (AS ON : 31.03.2009)
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Particulars |
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Unit |
Installed Capacity |
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AAC |
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Cum |
-- |
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Gear Boxes |
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Nos. |
40000 |
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Fluid Couplings |
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Nos. |
2000 |
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Geared Motors |
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Nos. |
3600 |
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Sets |
40000 |
GENERAL INFORMATION
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Customers : |
OEM’s |
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No. of Employees : |
800 (In office) (Approximately) |
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Bankers : |
v
State
Bank of India, Industrial Finance Branch, Pimpri, Pune- 411 034, Maharashtra,
India v
Axis
Bank Limited, 1262 / B, Sterling Plaza, Jangli Maharaj Road, Deccan Gymkhana,
Pune – 411004, Maharashtra, India v
ICICI Bank v
HDFC Bank, Pune Branch |
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Facilities : |
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Banking
Relations : |
Fair |
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Auditors : |
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Name : |
Sharp and Tannan Chartered Accountants |
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Address : |
Ravindra Annexe, 194, Church gate Reclamation, |
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Holding Company: |
DBH International Private Limited Cin No.: U74899DL1950PTC057209 |
CAPITAL STRUCTURE
As on 30.06.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
26000000 |
Equity Shares |
Rs.10/- each |
Rs.260.000 millions |
|
1350000 |
3.50 % Non Cumulative Preference Shares |
Rs.100/- each |
Rs.135.000 millions |
|
2100000 |
5 % Non Cumulative Preference Shares |
Rs.100/- each |
Rs.210.000 millions |
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Total |
Rs.605.000
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25776314 |
Equity Shares |
Rs.10/- each |
Rs.257.763
millions |
|
1333034 |
3.50 % Non Cumulative Preference Shares |
Rs.100/- each |
Rs.133.303
millions |
|
2075000 |
5 % Non Cumulative Preference Shares |
Rs.100/- each |
Rs.207.500
millions |
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|
|
|
|
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Total |
Rs.598.566 millions |
Note: above Preference
Shares are redeemable on or before February 2014.
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
30.06.2010 |
30.06.2009 |
30.06.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
598.566 |
598.566 |
598.566 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
772.194 |
608.123 |
481.519 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
1370.760 |
1206.689 |
1080.085 |
|
|
LOAN FUNDS |
|
|
|
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|
1] Secured Loans |
292.263 |
477.902 |
410.919 |
|
|
2] Unsecured Loans |
38.418 |
33.172 |
50.122 |
|
|
TOTAL BORROWING |
330.681 |
511.074 |
461.041 |
|
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DEFERRED TAX LIABILITIES |
61.947 |
55.774 |
57.874 |
|
|
|
|
|
|
|
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TOTAL |
1763.388 |
1773.537 |
1599.000 |
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APPLICATION OF FUNDS |
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|
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|
|
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FIXED ASSETS [Net Block] |
964.123 |
927.135 |
839.157 |
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Capital work-in-progress |
24.464 |
73.657 |
9.547 |
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|
|
|
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INVESTMENT |
340.903 |
340.903 |
340.803 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
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|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
402.281 |
350.814
|
401.387
|
|
|
Sundry Debtors |
712.966
|
687.877
|
694.314
|
|
|
Cash & Bank Balances |
90.371
|
91.045
|
107.929
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
58.252
|
57.533
|
59.844
|
|
Total
Current Assets |
1263.870
|
1187.269
|
1263.475
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
257.571
|
233.017
|
228.684
|
|
|
Sundry Creditors Details |
419.516 |
386.841 |
513.171 |
|
|
Provisions |
152.885
|
135.569
|
112.127
|
|
Total
Current Liabilities |
829.972
|
755.427
|
853.982
|
|
|
Net Current Assets |
433.898
|
431.843
|
409.493
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1763.388 |
1773.537 |
1599.000 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
30.06.2010 |
30.06.2009 |
30.06.2008 |
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|
|
SALES |
|
|
|
|
|
|
|
Sales (Net) |
3157.350 |
2694.901 |
2739.886 |
|
|
|
Other Income |
29.285 |
24.129 |
20.507 |
|
|
|
TOTAL (A) |
3186.635 |
2719.030 |
2760.393 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing Expenses |
402.613 |
299.437 |
317.704 |
|
|
|
Administrative Expenses |
228.130 |
204.846 |
202.807 |
|
|
|
Raw Material Consumed |
1591.947 |
1342.492 |
1302.160 |
|
|
|
Personnel Cost |
347.015 |
323.113 |
324.594 |
|
|
|
TOTAL (B) |
2569.705 |
2169.888 |
2147.266 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
616.930 |
549.142 |
613.127 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
65.659 |
76.651 |
73.813 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
551.271 |
472.491 |
539.314 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
120.056 |
102.674 |
77.336 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
431.215 |
369.817 |
461.978 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
153.273 |
129.114 |
160.363 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
277.942 |
240.703 |
301.615 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
258.123 |
231.519 |
184.002 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend |
15.040 |
15.040 |
15.040 |
|
|
|
Tax on proposed Dividend |
2.498 |
2.556 |
2.556 |
|
|
|
Interim Dividend |
38.664 |
38.664 |
51.552 |
|
|
|
Tax on Interim Dividend |
6.571 |
6.571 |
8.761 |
|
|
|
Proposed Dividend |
43.819 |
43.819 |
30.931 |
|
|
|
Tax on proposed Dividend |
7.277 |
7.447 |
5.256 |
|
|
|
Transfer to General Reserve |
150.000 |
100.000 |
140.000 |
|
|
BALANCE CARRIED
TO THE B/S |
272.194 |
258.123 |
231.519 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
153.067 |
121.621 |
0.000 |
|
|
TOTAL EARNINGS |
153.067 |
121.621 |
0.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
179.178 |
209.219 |
0.000 |
|
|
TOTAL IMPORTS |
179.178 |
209.219 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
10.10 |
8.66 |
11.02 |
|
|
Particulars |
|
|
31.03.2011 |
|
Sales Turnover (Approximately) |
|
|
3030.000 |
|
|
|
|
|
Note : For nine Months
as they have changed their year ending date.
The above information has been parted by Mr. Rajendra Kulkarni.
KEY RATIOS
|
PARTICULARS |
|
30.06.2010 |
30.06.2009 |
30.06.2008 |
|
PAT / Total Income |
(%) |
8.72 |
8.85
|
11.25
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
13.65 |
13.72
|
16.86
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
19.35 |
17.49
|
21.97
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.31 |
0.31
|
0.42
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.84 |
1.05
|
1.27
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.52 |
1.57
|
1.47
|
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY CREDITORS:
|
Particulars |
30.06.2010 (Rs. In millions) |
30.06.2009 (Rs. in millions) |
30.06.2008 (Rs. in millions) |
|
|
|
|
|
|
For Capital Goods |
10.705 |
64.531 |
124.936 |
|
Due to Micro and
Small Enterprises |
22.019 |
14.459 |
11.566 |
|
Others |
386.792 |
307.851 |
376.669 |
|
|
|
|
|
|
Total |
419.516 |
386.841 |
513.171 |
NOTE :
Registered office of the company has been shifted from Thapar House 124,
Janpath,
OPERATIONS:
The Company has achieved a net income of Rs.3186.600 millions as against
Rs.2719.000 millions in the previous year a growth of 17%. The Net Profit after
tax for the year has also increased by 15% to Rs. 277.900 millions as against
Rs. 240.700 millions in the previous year.
The exports during the year were Rs.153.100 millions against Rs.121.600
millions in the previous year, a growth of 26%. The Company has appointed new
dealers in Middle East and Africa during the year to enhance the presence in
these regions.
Business in all
the product groups has shown growth as compared to the previous year on account
of economic
revival and
increase in market share. The Geared motor business, however, had an excellent
growth of 41% during this year due to penetration into the new markets. The
management is optimistic that the growth trend will continue in the coming
financial year also
The Company has
made satisfactory progress in the production of modern light weight lift
machines in technical
collaboration with
Sicor, S.p.a of Italy. Trial Runs of these machines in the field have
demonstrated satisfactory
performance. The
initial supplies have been well received by the customers.
CHANGE OF COMPANY'S NAME
The members may be
aware that the Company was incorporated under the name Everest Food (India)
Private Limited on 26Ih April 1983. Thereafter the name of the Company was
changed to BlLT Infrastructure Private Limited. Upon acquisition of the
transmission business from Greaves Cotton Limited in 2004, the name of the
Company was changed to Premium Energy Transmission Limited.
The name of the
Company often caused confusion with customers and other business associates as
it gives the impression that the Company was engaged in the transmission of
electrical power. The Company has therefore thought it fit to change the name
to Premium Transmission Limited, to reflect actual activities of the Company.
The Company name has been changed to "Premium Transmission Limited" effective
14"' June 2010, after obtaining approval of the Shareholders and Registrar
of Companies, Pune.
FUTURE OUTLOOK
Indian economy has
shown considerable resilience and notwithstanding the continuing global
slowdown, particularly in the euro zone, a GDP growth of approximately 8.5% is
expected this fiscal. This augurs well for the future growth prospects of
The Company. The Company is continuously focusing on
development of new products to strengthen the range and consequently improve
market share. The Directors are optimistic of improved performance for the
current year, barring unforeseen circumstances.
FORM : 8
Bankers Charges
Report as per Registry
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U01119DL1983PLC015615 |
|
Name of the
company |
PREMIUM ENERGY TRANSMISSION LIMITED |
|
Address of the
registered office or of the principal place of business in |
Thapar House 124, Janpath, |
|
Type of charge |
Book Debts Movable Property |
|
Particular of
charge holder |
State Bank of |
|
Nature of description
of the instrument creating or modifying the charge |
1) Agreement of
Loan for overall Limit 2) Agreement of
Hypothecation of Goods and Assets 3) Letter
regarding the Grant of Individual Limits within the overall Limit 4)Omnibus Counter
Guarantee |
|
Date of
instrument Creating the charge |
21.01.2009 |
|
Amount secured by
the charge |
Rs.200.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Rate of Interest -
Demand Cash Credit @SBAR minimum @ 12.25% p.a. with monthly resets. Commission -
Letter of Credit and Bank Guarantee -
At their standard rates Terms of
Repayment As per Agreements
Margin Raw Material 25%,
Stocks -in-Process 25%, Finished Goods 25%, Book Debts/receivables (cover
period 90 days) 30% Extent and
Operation of the charge 1st pari passu
charge by hypothecation on entire current assets of the Company alongwith
ICICI Bank Limited and Axis Bank. Details of
Facilities - Demand Cash Credit Rs.
100.000 millions, Letter of Credit Rs.50.000 millions, Bank Guarantee Rs.50.000
millions |
|
Short particulars
of the property charged |
Hypothecation of
all present and future goods, book-debts and all other movable assets including
document of title to goods, outstanding monies, receivables, claims, bills, invoices, documents,
contracts, insurance policies, guarantees, engagements, securities,
investments and rights, present and future machinery wherever situated (incl.
all such goods, other movable assets as may be in course of shipment, transit
or delivery) by way of First Charge on pari passu basis |
TRADE REFERENCE
·
Kone Elivators
·
Johnsons and Johnsons
·
Larsen and Tubro
FIXED ASSTES:
· Land And Buildings,
· Plant And Equipments,
· Furniture And Fixtures,
· Vehicles
· Computer And
· Office Equipments.
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. 44.82 |
|
|
1 |
Rs. 72.83 |
|
Euro |
1 |
Rs. 64.58 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
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 |
46 |
|
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 |
|
46 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.