MIRA
INFORM REPORT
|
Report Date : |
17.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
BAHETI METAL AND FERRO ALLOYS LIMITED |
|
|
|
|
Registered Office : |
A/ 2/ 3, L R Apartment, Opposite Police Commissioner Office,
Shahibaug, Ahmedabad – 380 004, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
28.12.1994 |
|
|
|
|
Com. Reg. No.: |
04-24001 |
|
|
|
|
Paid-up Capital : |
Rs. 37.500 Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U27109GJ1994PLC024001 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
AHMB00015B |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAACB4626L |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturer of Aluminum Alloys. |
|
|
|
|
No. of Employees : |
30 (approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 200000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. Profitability
of the company appears to be low. However trade relations are reported as
fair. Business is active. Payments are reported to be slow but correct. The company can be considered for small to mediocre 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. Malival |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-79-25627681 |
|
Date : |
17.05.2011 |
LOCATIONS
|
Registered Office : |
A/ 2/ 3, L.R. Apartment, Opposite Police Commissioner Office,
Shahibaug, Ahmedabad – 380 004, |
|
Tel. No.: |
91-79-25627681/ 25627682/22870213 |
|
Fax No.: |
91-79-25627683 |
|
E-Mail : |
|
|
Area : |
900 sq ft |
|
Location : |
Owned |
|
|
|
|
Corporate Office : |
311, GVMSA Limited, |
|
Tel. No.: |
91-79-22870213/ 25627681 |
|
|
|
|
Factory : |
196, 197, Shreenath Industrial Estate, Post Sampat Behgam |
|
Tel. No.: |
91-2716-23162123 |
|
Location : |
Owned |
DIRECTORS
As on 30.09.2009
|
Name : |
Mr. Shankerlal B. Shah |
|
Designation : |
Managing Director |
|
Address : |
6, Jivraj Nagar Society, Shahi Baug, Ahmedabad – 380 004, |
|
Date of Birth/Age : |
17.02.1966 |
|
Date of Appointment : |
28.12.1994 |
|
|
|
|
Name : |
Mrs. Rupal B. Shah |
|
Designation : |
Director |
|
Address : |
6, Jivraj Nagar Society, Shahi Baug, Ahmedabad – 380 004, |
|
Date of Birth/Age : |
17.09.1942 |
|
Date of Appointment : |
27.12.1996 |
|
|
|
|
Name : |
Mrs. Savita S. Shah |
|
Designation : |
Director |
|
Address : |
6, Jivraj Nagar Society, Shahi Baug, Ahmedabad – 380 004, |
|
Date of Birth/Age : |
10.07.1968 |
|
Date of Appointment : |
01.03.1998 |
|
|
|
|
Name : |
Mr. Bansilal G. Shah |
|
Designation : |
Director |
|
Address : |
23, Jay Gujarat Society, Opposite Police Com, Office Shahhibaug,
Ahmedabad – 380 004, |
|
Date of Birth/Age : |
05.09.1954 |
|
Date of Appointment : |
15.02.2005 |
|
Date of Ceasing : |
03.01.2006 |
KEY EXECUTIVES
|
Name : |
Mr. Malival |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2009
|
Names of Shareholders |
|
No. of Shares |
|
Shankerlal B. Shah |
|
2120171 |
|
Kshitish Shah |
|
125 |
|
Bansilal Shah |
|
125 |
|
Savitaben Shah |
|
289907 |
|
Jamnalal Maliwal |
|
125 |
|
Shankerlal B. Shah Savitaben Shah |
|
11262 |
|
Rupalben B. Shah, Shankerlal B. Shah |
|
98182 |
|
Savitaben Shah / Shankerlal B. Shah |
|
2500 |
|
Minor Yash S. Shah |
|
97448 |
|
Yash Metals Private Limited, |
|
884882 |
|
Balkrishan S. Shah |
|
95909 |
|
Shankerlal G. Bahedia |
|
250 |
|
Shankerlal B. Shah |
|
13588 |
|
Shankerlal B. Shah |
|
2500 |
|
Shankerlal B. Shah HUF |
|
133026 |
|
Total
|
|
3750000 |
As on 30.09.2009
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
24.00 |
|
Directors
or relatives of directors |
|
76.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Aluminum Alloys. |
||||||||
|
|
|
||||||||
|
Products : |
|
||||||||
|
|
|
||||||||
|
Imports : |
|
||||||||
|
Products : |
|
||||||||
|
Countries : |
|
||||||||
|
|
|
||||||||
|
Terms : |
|
||||||||
|
Selling : |
Cash, Credit |
||||||||
|
|
|
||||||||
|
Purchasing : |
L/C, Cash, Credit |
GENERAL INFORMATION
|
Customers : |
|
|
|
|
|
No. of Employees : |
30 (approximately) |
|
|
|
|
Bankers : |
|
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institution : |
Gujarat Industrial Investment Corporation Limited, Chunibhai Chambers,
|
|
|
|
|
Auditors : |
|
|
Name : |
Wadhawan Pandya and Company Chartered Accountants |
|
Address : |
704, 7th Floor, ‘SARAP’, Opposite Navjivan Press, Behind
C.U. Shah Collage, Ashram Road, Ahmedabad – 380 009, Gujarat, India |
CAPITAL STRUCTURE
As On 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
4000000 |
Equity Shares |
Rs.10/- each |
Rs.40.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3750000 |
Equity Shares |
Rs.10/- each |
Rs.37.500 millions |
|
|
|
|
|
Note : Out of the above 750000 Equity Shares of
Rs.10/- each fully paid up have been allotted as bonus shares.
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 |
37.500 |
37.500 |
37.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
35.839 |
29.708 |
28.728 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
73.339 |
67.208 |
66.228 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
110.261 |
68.220 |
104.754 |
|
|
2] Unsecured Loans |
9.104 |
7.515 |
8.824 |
|
|
TOTAL BORROWING |
119.365 |
75.735 |
113.578 |
|
|
DEFERRED TAX LIABILITIES |
0.353 |
4.079 |
4.140 |
|
|
|
|
|
|
|
|
TOTAL |
193.057 |
147.022 |
183.946 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
28.942 |
24.324 |
25.429 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.425 |
0.431 |
0.431 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
73.022
|
46.350
|
62.958 |
|
|
Sundry Debtors |
74.432
|
51.564
|
73.176 |
|
|
Cash & Bank Balances |
0.163
|
0.405
|
1.471 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
22.555
|
33.064
|
32.071 |
|
Total
Current Assets |
170.172
|
131.383
|
169.676 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
0.013
|
0.108 |
|
|
Other Current Liabilities |
6.482
|
1.430
|
4.323 |
|
|
Provisions |
|
7.673
|
7.159 |
|
Total
Current Liabilities |
6.482
|
9.116
|
11.590 |
|
|
Net Current Assets |
163.690
|
122.267
|
158.086 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
193.057 |
147.022 |
183.946 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
666.984 |
728.018 |
779.124 |
|
|
|
Other Income |
0.630 |
3.697 |
4.433 |
|
|
|
TOTAL (A) |
667.614 |
731.715 |
783.557 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Material Consumed |
567.746 |
594.641 |
641.744 |
|
|
|
Purchases made for re-sale |
0.144 |
1.285 |
1.026 |
|
|
|
Increase/(Decrease) in Finished Goods |
3.985 |
8.171 |
1.699 |
|
|
|
Salaries, Wages, Bonus, etc. |
3.604 |
3.156 |
2.476 |
|
|
|
Managerial Remuneration |
1.080 |
0.960 |
0.840 |
|
|
|
Payment to Auditors |
0.065 |
0.079 |
0.067 |
|
|
|
Insurance Expenses |
0.543 |
0.598 |
0.434 |
|
|
|
Power & Fuel |
1.541 |
1.479 |
1.176 |
|
|
|
Other Expenditure |
66.504 |
102.629 |
111.119 |
|
|
|
TOTAL (B) |
645.212 |
712.998 |
760.581 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
22.402 |
18.717 |
22.976 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
11.006 |
14.424 |
12.353 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
11.396 |
4.293 |
10.623 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.878 |
1.710 |
1.577 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
9.518 |
2.583 |
9.046 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
2.506 |
0.944 |
2.574 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
7.012 |
1.639 |
6.472 |
|
|
|
|
|
|
|
|
|
|
ADJUSTMENTS FOR
INCOME TAX PAID OF EARLIER YEARS |
0.000 |
0.000 |
(0.387) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
29.709 |
28.728 |
24.398 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Interim Dividend Paid |
0.937 |
0.000 |
1.500 |
|
|
|
Proposed |
0.000 |
0.000 |
0.000 |
|
|
|
Tax on Dividend |
0.145 |
0.658 |
0.255 |
|
|
BALANCE CARRIED
TO THE B/S |
35.639 |
29.709 |
28.728 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
48.514 |
92.208 |
NA |
|
|
TOTAL IMPORTS |
48.514 |
92.208 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.44 |
NA |
NA
|
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
1.05 |
0.22
|
0.83 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.42 |
0.35
|
1.16 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.78 |
1.66
|
4.64 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.12 |
0.04
|
0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.71 |
1.26
|
1.89 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
26.25 |
14.41
|
14.64 |
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors:
|
Particulars |
31.03.2010 (Rs. In Millions) |
31.03.2009 (Rs. In millions) |
31.03.2008 (Rs. In millions) |
|
Sundry Creditors
for Goods |
NA |
0.000 |
0.000 |
|
Sundry Creditors
for Expenses |
NA |
0.013 |
0.108 |
|
Total |
NA |
0.0.13 |
0.108 |
Review of
Operations:
As will be noticed from figures of turnover which have decreased to Rs.
671.600 millions as compared to Rs. 723.500 millions for the previous year.
FORM : 8
|
This form is for |
Modification of
charge |
||||||
|
Charge
identification number of the modified |
90100448 |
||||||
|
Corporate
identity number of the company |
U27109GJ1994PLC024001 |
||||||
|
Name of the
company |
BAHETI METAL AND
FERRO ALLOYS LIMITED |
||||||
|
Address of the
registered office or of the principal place of business in |
A/2/3 L R,
Apartment Opposite : Police Commissioner Office, Shahibaug, Ahmedabad, |
||||||
|
Type of charge |
Book Debts immovable
Property Movable Property Others |
||||||
|
Particular of
charge holder |
|
||||||
|
Nature of
description of the instrument creating or modifying the charge |
A) supplemental Agreement of Loan Cum
Hypothecation (SME-4), Dated 23.06.2008 B) memorandum for recording extension of
mortgage by deposit of title deeds covering enhanced limits and / or creation of equitable mortgage on additional
properties for existing limits and enhanced limits and additional facilities
(SME-7) dated 23.6.2008 C) sanction / Renewal of
credit facilities letter, dated 12.06.2008 |
||||||
|
Date of
instrument Creating the charge |
23.06.2008 |
||||||
|
Amount secured by
the charge |
Rs. 108.500
millions |
||||||
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest
: Working Capital :
interest shall be charge @ 12.25% p.a. with monthly rest linked to SBAR / At
SBAR which id subject to change from Time to Time ) Terms of
Repayment : Repayable on
demand Margin : Raw Material –
25% Stock in process
-25% Finished goods –
25% Book Debts /
Receivable – 40% (Cover period 90
days) Bank Guarantee –
20% Extent and
Operation of the charge : The existing credit
facilities enhanced from Rs. 98.500 millions to Rs. 108.500 millions secured
by hypothecation of entire stocks of RM, SIP, FG, Other Consumable Spares,
Spares, Book Debts / Receivables, All other current assets and plant and
Machinery Effluent plant Boilers, Electric installation etc. Both present and
future of the company. The details of current facilities as under : DCC (Stock and
Book Debts) – Rs. 100.000 millions DCC (Book Debts )
– Rs. (55.000) millions Bill Discounting
/ DDB – Rs. (22.500) millions SLC – Rs. 7.500
millions B.G. – Rs.
100.000 millions Others : The credit
facilities of RS. 108.500 millions have been also secured by memorandum for
recording extension of mortgage by deposits of title deeds , dated 23.06.2008
over factory land and Building the company situated at Mouje Sapa, Tal.
Dehgam , Registration Dist. Ahmedabad (As Described in 2nd
Scheduled) as under a) Block No : 176, ADMS. 6393 Sq. MTS. b) Block No : 197, ADMS. 12793 Sq. MTS. c) Block No : 198, ADMS. 11100 Sq. MTS. Aggregate ADMS. 30290
Sq. MTS. Together with super structure of factory land and Building tereon. |
||||||
|
Short particulars
of the property charged |
Hypothecation of
entire stocks of RM, SIP, FG, Other Consumable stores, spares, book debts / receivables,
all other current assets and plant and machinery located at Mouje Sapa, Tal.
Dehgam, Registration Dist. Ahmedabad. |
||||||
|
Date of latest
modification prior to the present modification |
12.04.2007 |
||||||
|
Particulars of
the present modification |
By Execution of
aforesaid documents, the existing credit facilities enhanced from Rs.98.500
millions to Rs.108.500 millions secured by Hypothecation of entire stocks of
RM, SIP, FG, other consumables stores, spares, book debts / receivables, all
other current assets Plant and
machinery, Effluent plant, boilers, electric installation etc. both present
and future of Company Extension of
Equitable mortgage on immovable property of the company now the charge on
movables and immovables properties have been increased to Rs.108.500
millions. |
|
Corporate
identity number of the company |
U27109GJ1994PLC024001 |
|
Name of the
company |
BAHETI METAL AND FERRO ALLOYS LIMITED |
|
Address of the
registered office or of the principal place of business in |
A/2/3, L.R. Apartment, Opposite Police Commissioner Office, Shahibaug,
Ahmedabad – 380 004, |
|
This form is for |
Modification of
charge |
|
Type of charge |
·
Immovable
property ·
Book Debts ·
Movable
property (not being pledge) ·
Others |
|
Particular of
charge holder |
State Bank of GVMSAV Limited, Odhav Branch, Odhav, Ahmedabad – 382 415, |
|
Nature of
instrument creating charge |
·
Supplemental
Agreement of Loan cum Hypothecation dated 23.06.2008 ·
Memorandum
for recording extension of mortgage by deposit of title deeds covering Enhanced limits and/or creation of equitable mortgage on additional
properties for existing limits and enhanced limits and additional facilities
dated 23.06.2008 ·
Sanction
/ Renewal of credit facilities letter dated 12.06.2008 |
|
Date of
instrument Creating the charge |
23.06.2008 |
|
Amount secured by
the charge |
Rs.108.500
millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest Working Capital :
Interest Terms of
repayment Repayable on
Demand Margin : Raw Materials :
25% Stock in Process
: 25% Finished Goods :
25% Book Debts /
Receivables (Cover period 90
days) : 40% Bank Guarantee :
20% Extent and
operation of the charge : The existing
credit facilities enhanced from Rs.98.500 millions to Rs.108.500 millions
secured by Hypothecation of entire stocks of RM, SIP, FG, Other consumable stores,
spares, book debts / receivables, all other current asset and plant and
machinery, Effluent Plant, Boilers, Electric installation etc. both present
and future of the company. The details of
credit facilities as under: DCC (STC and B D)
– 100.000 millions DCC (Book Debts)
– (55.000) millions Bill Disc/DDB –
(22.500), SLC – 7.500
millions BG – Rs.100.000
millions Others : The credit
facilities of Rs.108.500 millions have been also secured by memorandum for
recording extension of mortgage by deposit of title deeds, dated 23.06.2008
over factory land and building the company situated at Mouje Sapa, Tal.
Dehgam, Registration Dist. Ahmedabad Block No. 176,
Adms.6393 Sq. Mts. Block No. 197,
Adms.12793 Sq. Mts. Block No. 198,
Adms 11100 Sq. Mts. Aggregate Adms.
30290 Sq. Mts. Together with super structure of factory land and building
thereon. |
|
Particulars of
the property charged |
Hypothecation of
entire stock of RM, SIP, FG, Other consumable stores, spares, book debts/
receivables, all other current asset and plant and machinery located at Mouje
Sapa, Tal. Dehgam, Registration District Ahmedabad |
|
Particulars of
the present modification |
By Execution of
aforesaid documents, the existing credit facilities enhanced from Rs.98.500 millions
to Rs.108.500 millions secured by Hypothecation of entire stocks of RM, SIP,
FG, other consumables stores, spares, book debts / receivables, all other
current assets Plant and
machinery, Effluent plant, boilers, electric installation etc. both present
and future of Company Extension of
Equitable mortgage on immovable property of the company now the charge on
movables and immovables properties have been increased to Rs.108.500
millions. |
FIXED ASSETS:
- Land
- Electric Installation
- Plant and Machinery
- Vehicles
- Office Equipment
- Computer
- Air Cooler
- Furniture and Fixtures
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. 45.07 |
|
|
1 |
Rs. 72.97 |
|
Euro |
1 |
Rs. 63.57 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
29 |
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.