MIRA
INFORM REPORT
|
Report Date : |
25.10.2011 |
IDENTIFICATION DETAILS
|
Name : |
WELLKNOWN SYNTHETICS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
145 C, Sangam, 4TH floor, Dr. Viegas Street, Kalbadevi
Road, Mumbai – 400002, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
14.08.1997 |
|
|
|
|
Com. Reg. No.: |
11-110093 |
|
|
|
|
Capital
Investment/ Paid-up Capital: |
Rs. 8.346 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17110MH1997PTC110093 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMW01566F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Texturised and Twisted Yarn. |
|
|
|
|
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 900000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
145 C, Sangam, 4TH floor, Dr. Viegas Street, Kalbadevi
Road, Mumbai – 400002, Maharashtra, India |
|
Tel. No.: |
91-22-66207000 |
|
Fax No.: |
91-22-66207050 |
|
E-Mail : |
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|
|
|
|
Corporate Office: |
14th Floor, B Wing Nirmal,
241/242, Back Bay Reclamation Nariman Point, Mumbai- 400 021, |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Anil Madanlal Gupta |
|
Designation : |
Director |
|
Address : |
9/41, |
|
Date of Birth/Age : |
01.09.1964 |
|
Date of Appointment : |
14.08.1997 |
|
DIN No: |
01376458 |
Other Directorship:
|
S.No. |
CIN |
Name of the Company |
Current designation
of the director |
Date of appointment
at current designation |
Original date of
appointment |
Date of cessation |
Company Status |
Defaulting status |
|
1 |
U17110MH1987PTC043355 |
Wellknown Textile Industries Private Limited |
Director |
05-05-87 |
05-05-87 |
- |
Active |
NO |
|
2 |
U70109MH1995PTC091597 |
Wellknown Hitech Projects Private Limited |
Director |
09-08-95 |
09-08-95 |
- |
Active |
NO |
|
3 |
U17114MH1996PLC103477 |
Wellknown Polyesters Limited |
Managing director |
01-10-10 |
23-10-96 |
- |
Active |
NO |
|
4 |
U17110MH1997PTC110093 |
Wellknown Synthetics Private Limited |
Director |
14-08-97 |
14-08-97 |
- |
Active |
NO |
|
5 |
U65990MH1997PTC107165 |
Wellknown Chemicals Private Limited |
Director |
26-11-98 |
26-11-98 |
- |
Active |
NO |
|
6 |
U80220MH2005PTC154131 |
Wellknown Technologies Private Limited |
Director |
31-08-06 |
31-08-06 |
- |
Active |
NO |
|
7 |
U70102MH2009PTC193678 |
Wellknown Housing Development Private Limited |
Director |
30-06-09 |
30-06-09 |
- |
Active |
NO |
|
8 |
U63090MH2009PTC198059 |
Wellknown Logistics Private Limited |
Director |
22-12-09 |
22-12-09 |
- |
Active |
NO |
|
9 |
U70102MH2009PTC198230 |
Wellknown Landmark Ventures Private Limited |
Director |
31-12-09 |
31-12-09 |
- |
Active |
NO |
|
10 |
U17120MH1972GAT016028 |
Association Of Synthetic Fibre Industry |
Nominee director |
17-05-10 |
17-05-10 |
- |
Active |
NO |
|
11 |
U70102MH2010PTC207508 |
Wellknown Infratech Private Limited |
Director |
08-09-10 |
08-09-10 |
- |
Active |
NO |
|
12 |
U70102MH2010PTC207736 |
Wellknown Properties Private Limited |
Director |
16-09-10 |
16-09-10 |
- |
Active |
NO |
|
Name : |
Mr. Ashok Madanlal Gupta |
|
Designation : |
Whole Time Director |
|
Address : |
2/7, |
|
Date of Birth/Age : |
30.09.1959 |
|
Date of Appointment : |
14.08.1997 |
|
DIN No: |
01510569 |
Other Directorship:
|
S.No. |
CIN |
Name of the Company |
Current designation
of the director |
Date of appointment
at current designation |
Original date of
appointment |
Date of cessation |
Company Status |
Defaulting status |
|
1 |
U17110MH1987PTC043355 |
Wellknown Textile Industries Private Limited |
Director |
30-03-92 |
30-03-92 |
- |
Active |
NO |
|
2 |
U70109MH1995PTC091597 |
Wellknown Hitech Projects Private Limited |
Director |
09-08-95 |
09-08-95 |
- |
Active |
NO |
|
3 |
U17114MH1996PLC103477 |
Wellknown Polyesters Limited |
Whole-time director |
01-10-10 |
23-10-96 |
- |
Active |
NO |
|
4 |
U17110MH1997PTC110093 |
Wellknown Synthetics Private Limited |
Whole-time director |
01-08-10 |
14-08-97 |
- |
Active |
NO |
|
5 |
U65990MH1997PTC107165 |
Wellknown Chemicals Private Limited |
Director |
26-11-98 |
26-11-98 |
- |
Active |
NO |
|
6 |
U80220MH2005PTC154131 |
Wellknown Technologies Private Limited |
Director |
31-08-06 |
31-08-06 |
- |
Active |
NO |
|
7 |
U70102MH2009PTC193678 |
Wellknown Housing Development Private Limited |
Director |
30-06-09 |
30-06-09 |
- |
Active |
NO |
|
8 |
U63090MH2009PTC198059 |
Wellknown Logistics Private Limited |
Director |
22-12-09 |
22-12-09 |
- |
Active |
NO |
|
9 |
U70102MH2009PTC198230 |
Wellknown Landmark Ventures Private Limited |
Director |
31-12-09 |
31-12-09 |
- |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Wellknown Polyesters Limited, |
|
232108 |
|
Anil Madanlal Gupta (benefical owner: Wellknown polymer Limited, |
|
2 |
|
Ashok Madanlal Gupta (benefical owner: Wellknown polymer Limited, |
|
2 |
|
Total |
|
232112 |
|
Names of Shareholders (Preference Shares) |
|
No. of Shares |
|
Wellknown Polyesters Limited, |
|
60250 |
|
Total |
|
60250 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2011
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Texturised and Twisted Yarn. |
PRODUCTION STATUS AS ON 31.03.2010
|
Particulars |
|
|
Installed
Capacity |
Actual
Production |
|
Texturising Yarn |
|
|
4680 Spindle |
14934.601 (In
M.T) |
|
Twisted Yarn |
|
|
816 Spindle |
390.704 (In M.T) |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
(Term Loan are Secured by way of equitable mortgage of land and first
charge on plant and machinery (both present and future) and personal guarantee
of the promoter directors of the company and corporate guarantee of a group
company) (Working capital loan is secured against hypothecation of stocks of
raw material, stock – in – process, finished goods, stores and book debts of
the company and equitable mortgage on all fixed assets and personal guarantee
of the promoter directors of the company and corporate guarantee of a group
company) (Vehicle loan is secured against respective assets under the said
loan)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Statutory Auditor : |
|
|
Name : |
Mittal and Associates Chartered Accountants |
|
Address : |
105, M K Bhavan, 300 SBS, Marg Fort, Mumbai – 400001, |
|
PAN No.: |
AAAFM9559Q |
|
|
|
|
Internal Auditor: |
ADV and Associates |
|
|
|
|
Holding Company : |
Wellknown Polyesters Limited CIN No: U17114MH1996PLC103477 |
|
|
|
|
Associates Concern : |
|
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000 |
Equity Shares |
Rs. 10/- each |
Rs. 2.500 Millions |
|
175000 |
Preference Shares |
Rs. 100/- each |
Rs. 17.500 Millions |
|
|
Total |
|
Rs. 20.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
232112 |
Equity Shares (of the above 232112 (232112) Shares are held
by holdiong company M/s Wellknown Polyesters Limited) (O the above 116056
Equity shares had been allotted as fully paid bonus shares by way of
capitalization of profit and loss account) |
Rs. 10/-
each |
Rs. 2.321
Millions |
|
15750 |
Cumulative Convertible Redeemable Preference
Shares (Of the above 15750 shares are held by
holding company M/ S Wellknown Polyesters Limited) |
Rs. 100/-
each |
Rs. 1.575
Millions |
|
4500 |
Cumulative Convertible Redeemable Preference
Shares (Of the Of the above 4500 shares are held by
holding company M/ S Wellknown Polyesters Limited |
Rs. 100/-
each |
Rs. 0.450
Millions |
|
30000 |
Cumulative Convertible Redeemable Preference
Shares (Of the Of the above 30000 shares are held by
holding company M/ S Wellknown Polyesters Limited |
Rs. 100/-
each |
Rs. 3.000
Millions |
|
10000 |
Cumulative Convertible Redeemable Preference
Shares (Of the Of the above 10000 shares are held
by holding company M/ S Wellknown Polyesters Limited |
Rs. 100/-
each |
Rs. 1.000
Millions |
|
|
Total |
|
Rs. 8.346 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 |
8.346 |
8.346 |
3.186 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
216.790 |
200.118 |
100.460 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
225.136 |
208.464 |
103.646 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
421.604 |
314.483 |
159.252 |
|
|
2] Unsecured Loans |
0.294 |
2.906 |
0.068 |
|
|
TOTAL BORROWING |
421.898 |
317.389 |
159.320 |
|
|
DEFERRED TAX LIABILITIES |
37.589 |
29.656 |
14.421 |
|
|
|
|
|
|
|
|
TOTAL |
684.623 |
555.509 |
277.387 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
351.367 |
362.704 |
143.800 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
90.000 |
50.535 |
54.175 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
88.673
|
47.206 |
23.331 |
|
|
Sundry Debtors |
78.874
|
46.518 |
32.040 |
|
|
Cash & Bank Balances |
16.342
|
12.549 |
1.904 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
117.242
|
192.033 |
44.253 |
|
Total
Current Assets |
301.131
|
298.306 |
101.528 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
50.549
|
148.695 |
8.977 |
|
|
Other Current Liabilities |
3.769
|
3.683 |
1.316 |
|
|
Provisions |
3.557
|
3.658 |
11.823 |
|
Total
Current Liabilities |
57.875
|
156.036 |
22.116 |
|
|
Net Current Assets |
243.256
|
142.270 |
79.412 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
684.623 |
555.509 |
277.387 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1497.273 |
707.790 |
456.632 |
|
|
|
Other Income |
NA |
12.913 |
3.241 |
|
|
|
TOTAL (A) |
NA |
720.703 |
459.873 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
NA |
645.610 |
417.500 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
NA |
645.610 |
417.500 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
84.261 |
75.093 |
42.373 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST AND
FINANCIAL EXPENSES (D) |
31.113 |
22.957 |
10.957 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
53.148 |
52.136 |
31.416 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
19.038 |
12.010 |
7.497 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
34.110 |
40.126 |
23.919 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
7.933 |
15.307 |
6.962 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
26.177 |
24.819 |
16.957 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
33.000 |
13.921 |
NA |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
2.750 |
0.000 |
1.700 |
|
|
|
Interim Dividend on Equity Shares |
8.123 |
0.000 |
8.210 |
|
|
|
Corporate Tax on Dividend |
1.381 |
0.000 |
1.395 |
|
|
|
Transfer to preference share redemption
reserves |
3.982 |
5.740 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
42.941 |
33.000 |
NA |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Exports |
6.309 |
0.332 |
0.000 |
|
|
TOTAL EARNINGS |
6.309 |
0.332 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
95.62 |
82.20 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
NA
|
3.44 |
3.68 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.27
|
5.66 |
5.23 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.22
|
6.07 |
9.74 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15
|
0.19 |
0.23 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.13
|
2.27 |
1.75 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
5.20
|
1.91 |
4.59 |
LOCAL AGENCY FURTHER INFORMATION
Note :
The Registered office address of the company has been shifted from 46,
Swadeshi Market, 1st floor,
Performance of the
Company:
The turnover and profitability of the Company has jumped by leaps and bounds. The Company recorded a turnover of Rs 1497.273 Millions (707.790 Millions). Profit for the Year is Rs 34.110 Millions (Rs 40.126 Millions) and Profit After Tax shot up to Rs 26.177 Millions (Rs 24.819 Millions).
Contingent Liability
not provided for:
1) Bank Guarantee of Rs. 11.199 Millions taken against fexed deposit of Rs. 1.011 Millions.
2) The company imported certain machineries under EPCG scheme in previous years. The company is under obligation to export texturised yarn 8 time within a period of 8 years against duty saved amounting to Rs. 72.526 Millions. the company has fulfilled obligation of Rs. 6.641 Millions total obligation of Rs. 580.208 Millions.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U17110MH1997PTC110093 |
|
Name of the
company |
WELLKNOWN SYNTHETICS
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
145 C, Sangam, 4TH floor, Dr. Viegas Street, Kalbadevi
Road, Mumbai – 400002, Maharashtra, India Email: info@wellknown.net.in |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10036375 |
|
Type of charge |
|
|
Particular of
charge holder |
The Shamrao Vithal Co-operative Bank Limited, Email: haridascg@svcbank.com |
|
Nature of
description of the instrument creating or modifying the charge |
1. Composite Deed
of Hypothecation Agreement 2 Second
Supplement al Deed of Hypothecation 3. Recording
Letter Evidencing Deposit of Title Deeds |
|
Date of
instrument Creating the charge |
01.09.2009 |
|
Amount secured by
the charge |
Rs. 558.543 Millions
|
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest The bank will
charge rate of interest which may vary form time to time. The bank shall have
right to change rate of interest after notifying the company Terms of Repayment As May Be
Decided By Bank From Time To Time Margin – Cash Credit - 25%
Margin, Export Packing Credit : Nil ,
Export Bill Negotiation/ Discounting : 10% , Term Loan 17.5 % , Bank
Guarantee: 10% Margin By Way Of Term Deposit And Letter Of
Credit ( Inland/Foreign): 15 % By Way Of Pledge Of Term Deposit Extent and Operation of the charge To secure due
repayment of various credit facilities by
SVC Bank (Term Loan I : 50.000 Millions, Term Loan II : 29.543
Millions, Term Loan III 130.000 Millions,(One Time LC of Rs. 40.000 Millions
to be retired out of proceeds of term loan), Term Loan IV : 44.000 Millions
Bank Guarantee: 15.000 Millions and cash credit facility: 160.000 Millions=
428.543 Millions and NKGSB ( Term Loan I: 50.000 Millions, Term Loan II :
70.000 Millions and Cash Credit Facility : 10.000 Millions = 130.000
Millions. Total Combined
Facility by SVC Bank and NKGSB Bank =558.543 Millions. |
|
Short particulars
of the property charged |
1) Term Loan
sanctioned by The Shamrao Vithal Co-operative Bank and NKGSB Bank is secured
by mortgage/ First Pari passu Charge on the fixed assets of the Company
present and future. 2) Cash Credit
Facility of SVC Bank and NKGSB Bank is secured by 1st Pari passu charge on
Current Assets of the Company and 2nd
Pari passu Charge on on Fixed
Assets of the Company. 3) Brief
description of the property charged and its location is mentioned in the
documents attached with this form. |
|
Particulars of
the present modification |
By this present
modification, total credit facilities sanctioned by SVC Bank (Term Loan I :
50.000 Millions, Term Loan II : 29.543 Millions, Term Loan III 130.000
Millions,(One Time LC of Rs. 40.000 Millions to be retired out of proceeds of
term loan), Term Loan IV : 44.000 Millions
Bank Guarantee: 15.000 Millions and cash credit facility: 160.000
Millions= 428.543 Millions and NKGSB ( Term Loan I: 50.000 Millions, Term
Loan II : 70.000 Millions and Cash Credit Facility : 10.000 Millions= 130.000
Millions .Total combined Limit by SVC Bank and NKGSB Bank = 558.543 Millions. |
Fixed Assets:
- Land – Freehold
- Building
- Plant and Machinery
- Furniture and Fixtures
- Motor Car
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. 49.87 |
|
|
1 |
Rs. 79.72 |
|
Euro |
1 |
Rs. 69.52 |
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.