MIRA
INFORM REPORT
|
Report Date : |
13.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
STANDARD RADIATORS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
1/12, Industrial Estate, Growa, Vadodara – 390 016, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
23.06.1965 |
|
|
|
|
Com. Reg. No.: |
04-01320 |
|
|
|
|
Paid Up Capital
: |
Rs.9.718 Millions |
|
|
|
|
CIN No.: [Company Identification No.] |
U34201GJ1965PTC001320 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BRDS02025C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCS5507K |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Radiators and Heat Exchangers. |
|
|
|
|
No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (51) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 659476 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well 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 dealing 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. Mahesh Patel |
|
Designation : |
Assistant Accountants Manager |
|
Contact No. : |
91-9898310937 |
|
Date : |
10.09.2011 |
LOCATIONS
|
Registered Office/ Factory : |
1/12, Industrial Estate, Growa, Vadodara – 390 016, |
|
Tel. No.: |
91-265-2280616 |
|
Mobile No.: |
91-9898310937 (Mr. Mahesh Patel) |
|
Fax No.: |
91-265-2280522 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
4500 sq ft |
|
Location : |
Owned |
DIRECTORS
As on 11.06.2011
|
Name : |
Ms. Trupti P. Singh |
|
Designation : |
Managing Director |
|
Address : |
401, Ramkrishna Apartment, 26, Alkapuri, Vadodara – 390 005, |
|
Date of Birth/Age : |
21.04.1962 |
|
Date of Appointment : |
27.09.1997 |
|
|
|
|
Name : |
Mr. Divakar N. Shukla |
|
Designation : |
Director |
|
Address : |
Sanchi Residency-II, 6 Shrijee Society, Vasna Road, Vadodara – 390015,
Gujarat, India |
|
Date of Birth/Age : |
08.10.1939 |
|
Date of Appointment : |
14.04.2001 |
Other Directorship
Name:
|
DIVAKAR NANDLAL SHUKLA
|
|
|
|
|
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 11.06.2011
|
Names of Shareholders |
|
No. of Shares |
|
Trupti Singh |
|
971510 |
|
Divakar Shukla |
|
145 |
|
Sumeru Patel |
|
145 |
|
Total
|
|
971800 |
As on 30.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Radiators and Heat Exchangers. |
||||||||||||
|
|
|
||||||||||||
|
Products : |
|
||||||||||||
|
|
|
||||||||||||
|
Exports : |
|
||||||||||||
|
Products : |
Radiators and Heat Exchangers |
||||||||||||
|
Countries : |
USA, Germany |
||||||||||||
|
|
|
||||||||||||
|
Imports : |
|
||||||||||||
|
Products : |
Aluminium Sheets and Tubes |
||||||||||||
|
Countries : |
Germany, China |
||||||||||||
|
|
|
||||||||||||
|
Terms : |
|
||||||||||||
|
Selling : |
L/C, Credit |
||||||||||||
|
|
|
||||||||||||
|
Purchasing : |
L/C, Credit |
GENERAL INFORMATION
|
Customers : |
OEM’s |
||||||||||||
|
|
|
||||||||||||
|
No. of Employees : |
100 (in office) |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
·
Oriental Bank of Commerce, Fortune Towers, Ground
Floor, Sayajigunj, Vadodara – 390 005, Gujarat, India |
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
P.J. Mankad and Company Chartered Accountants |
|
Address : |
201, Labh Smruti, |
|
Tel. No.: |
91-22-26152124/ 22830196 |
|
Fax No.: |
91-22-22830196 |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3000000 |
Equity Shares |
Rs.10/-each |
Rs.30.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
971800 |
Equity Shares |
Rs.10/- each |
Rs.9.718
Millions |
|
|
|
|
|
(Out of which 69960 shares were issued
pursuant to an agreement without payment being received in cash and 301800
Equity Shares of Rs.10/- each fully paid up as Bonus Shares by capitalisation
out of General Reserve.)
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
9.718 |
9.718 |
9.718 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
155.151 |
128.427 |
104.047 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
164.869 |
138.145 |
113.765 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
137.710 |
61.925 |
33.107 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
137.710 |
61.925 |
33.107 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.335 |
|
|
|
|
|
|
|
|
TOTAL |
302.579 |
200.070 |
147.207 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
85.356 |
56.619 |
61.364 |
|
|
Capital work-in-progress |
3.667 |
0.081 |
0.249 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.281 |
0.281 |
0.281 |
|
|
DEFERREX TAX ASSETS |
0.075 |
0.745 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
88.249
|
57.745
|
36.468
|
|
|
Sundry Debtors |
188.302
|
123.905
|
69.692
|
|
|
Cash & Bank Balances |
1.988
|
2.341
|
0.382
|
|
|
Other Current Assets |
2.990
|
2.640
|
2.592
|
|
|
Loans & Advances |
20.665
|
20.931
|
10.031
|
|
Total
Current Assets |
302.194
|
207.562
|
119.165
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
77.058 |
53.309 |
26.276 |
|
|
Other Current Liabilities |
10.317
|
7.354 |
5.615 |
|
|
Provisions |
1.619
|
4.555
|
1.961
|
|
Total
Current Liabilities |
88.994
|
65.218
|
33.852
|
|
|
Net Current Assets |
213.200
|
142.344
|
85.313
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
302.579 |
200.070 |
147.207 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
449.948 |
357.178 |
|
|
|
Other Income |
|
8.327 |
0.757 |
|
|
|
TOTAL (A) |
700.982 |
458.275 |
357.935 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Material Consumed |
- |
284.773 |
227.616 |
|
|
|
Stores, spares and tool consumed |
- |
13.844 |
9.622 |
|
|
|
Packing materials consumed |
- |
13.299 |
9.081 |
|
|
|
Personnel Expenses |
- |
35.898 |
30.366 |
|
|
|
Other Manufacturing, Selling and
Administrative Expenses |
- |
55.886 |
47.428 |
|
|
|
Increase/(Decrease) in stock |
- |
(4.980) |
5.254 |
|
|
|
Short Credits/ Excess Debits of previous
year |
- |
(1.644) |
(0.926) |
|
|
|
TOTAL (B) |
NA |
397.076 |
328.441 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
NA |
61.199 |
29.494 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
NA |
3.718 |
7.714 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
63.504 |
57.481 |
21.780 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
15.186 |
11.897 |
11.180 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
48.318 |
45.584 |
10.600 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
15.909 |
15.519 |
4.143 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
32.409 |
30.065 |
6.457 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
20.295 |
5.915 |
8.095 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Interim Dividend |
4.859 |
4.859 |
0.972 |
|
|
|
Dividend Distribution Tax |
0.826 |
0.826 |
0.165 |
|
|
|
General Reserve |
10.000 |
10.000 |
7.500 |
|
|
BALANCE CARRIED
TO THE B/S |
37.019 |
20.295 |
5.915 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
115.683 |
89.503 |
|
|
|
Design and Development Charges |
NA |
0.879 |
0.084 |
|
|
TOTAL EARNINGS |
NA |
116.562 |
89.587 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
37.502 |
33.897 |
|
|
|
Stores, Spares & Tools |
NA |
7.543 |
2.241 |
|
|
TOTAL IMPORTS |
NA |
45.045 |
36.138 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
33.35 |
30.94 |
6.64 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
4.62
|
6.56
|
1.80
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
--
|
10.13
|
2.97
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.46
|
17.25
|
5.87
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.29
|
0.33
|
0.09
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.37
|
0.92
|
0.59
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.39
|
3.18
|
3.52
|
LOCAL AGENCY FURTHER INFORMATION
Sundry Creditors Details
|
Particulars |
31.03.2011 (Rs. In
Millions) |
31.03.2010 (Rs. In
Millions) |
31.03.2009 (Rs. In
Millions) |
|
Sundry Creditors Others |
37.467 |
23.967 |
4.529 |
|
Sundry Creditors (Macro, Small & Medium
Enterprise) |
27.342 |
19.554 |
10.712 |
|
Other Creditors |
12.249 |
9.788 |
11.033 |
PERFORMANCE OF THE
COMPANY:
The Company has achieved a gross turnover of Rs.747.887
millions during the year as against Rs.478.644 millions in the previous year.
The increase in the sales in the year 2010-11,
is largely due to the demand in Automobile Industry and Capital Goods Sector.
FUTURE OUTLOOK
To overcome their dependence on the tractor
industry and the Auto Industry their efforts continue to add OE customer from
other segment of the market, as also to be aggressive on the Export Sales.
The facility to manufacture brazed aluminum
heat exchangers achieved a gross turn over of Rs.250.911 millions (previous
year Rs.133.352 millions) during the year and the company expects substantial
growth in this segment in the coming years.
ISO 9001 Accreditation
The company’s manufacturing plant continues to
maintain the prestigious ISO 9001 certified by accreditation from TUV,
Rheinland, and is now holding TS 16949 certificate.
Form 8
|
Corporate
identity number of the company |
U34201GJ1965PTC001320 |
||||||
|
Name of the
company |
STANDARD RADIATORS PRIVATE LIMITED |
||||||
|
Address of the
registered office or of the principal place of business in |
1/12, Industrial Estate, Growa, Vadodara – 390 016, Gujarat, India |
||||||
|
This form is for |
Modification of charge |
||||||
|
Type of charge |
Immovable property Book debts |
||||||
|
Particular of
charge holder |
|
||||||
|
Nature of
instrument creating charge |
Supplemental Agreement to secure Credit / Loan
Facilities and Memorandum of Deposit of Title Deed for enhancement
of limit |
||||||
|
Date of
instrument Creating the charge |
27.01.2011 |
||||||
|
Amount secured by
the charge |
Rs. 157.500 Millions |
||||||
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest CC - Hypo & BP / UBD @ 11.75% p.a. with monthly
rest PC / Foreign BP / LC DP/DA - Renewal @ as per RBI
directives / HO Guidelines issued from time to time Terms of
Repayment CC / Foreign BP /
BP / LC DP - DA and Bank Guarantee - Subject to yearly renew. Margin @ 25% for all the
facilities except 15% in case of LC and BG. Extent and
Operation of the charge First and Exclusive
charge in favour of Oriental bank of commerce Others CC - Stock / BDs - Rs. 115.000 Millions (Sub Limit
LC - Rs. 7.500 Millions, BP/BD/UBD - Rs. 2.500 Millions & PCL/FDBP/FUDBp
- Rs. 15.000 Millions) BG - Rs. 5.000 Millions TL - I - Rs. 15.000 Millions TL - II - Rs. 22.500 Millions total amounting - Rs. 157.500 Millions |
||||||
|
Particulars of
the property charged |
Property bearing shed No. C-1/11, Baroda Industrial
Development Corporation adm. 13065 Sq. Fts. situated on land bearing R.S.No.
1178 bearing City S. No. 1181 in Vill. Moje Gorwa, Vadodara. Property bearing shed no. C-1/12, Baroda Industrial
Development Corporation admeas. 13065 Sq. Fts. situated on land bearing
R.S.No. 178 bearing City S. No. 1181 in Vill. Moje Gorwa, Vadodara. Hypo of stock of raw materials, stock in process,
finished goods, consumables, packing material, advance to suppliers and book
debts, etc. |
||||||
|
Date of
instrument modifying the charge |
29.06.2010 |
||||||
|
Particulars of
the present modification |
Under this modification total amount of charge has
been increased to Rs. 157.500 millions divided as follows: CC - Stock / BDs - Rs. 115.000 millions (Sub Limit
LC - Rs. 7.500 millions, BP/BD/UBD - Rs. 2.500 millions & PCL/FDBP/FUDBp
- Rs. 15.000 millions) BG - Rs. 5.000 millions TL - I - Rs. 15.000 millions TL - II - Rs. 22.500 millions |
|
Corporate
identity number of the company |
U34201GJ1965PTC001320 |
|
Name of the
company |
STANDARD RADIATOR
PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
1/12, Industrial
Estate, Growa, Vadodara - 390 016, E-Mail: accounts@standardradiators.com |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
80011080 |
|
Type of charge |
Book Debts Others stock of raw
material, finished good, consumable |
|
Particular of
charge holder |
Oriental Bank of Commerce, E-Mail: bm0620@obc.co.in |
|
Nature of
description of the instrument creating or modifying the charge |
Supplemental
Agreement to secure Credit / Loan Facilities |
|
Date of
instrument Creating the charge |
24.06.2010 |
|
Amount secured by
the charge |
Rs.105.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest CC - Hypothecation
10.25% with a monthly rest. PC and FDBP/
FUDBP @ 9.50% p.a. commission on LC
as per bank schedule of charges Terms of
Repayment subject to yearly
review Margin CC @ 25% and LC and BG @ 15% Extent and
Operation of the charge First and Exclusive
charge in favour of Oriental Bank of Commerce Others CC -
Hypothecation - Rs.85.000 millions (with a sub limit PC/FPC/FDBP/FUBDP
Rs.15.000 millions, BP/BD Rs.2.500 millions, LC Rs.7.500 millions) Term Loan
Rs.15.000 millions and Bank Guarantee -
Rs.5.000 millions) Total amounting
to Rs.105.000 millions. |
|
Short particulars
of the property charged |
Hypothecation of
stock of raw materials, stock in process, finished goods, consumables,
packing material, advance to suppliers and book debts, etc. |
|
Date of latest
modification prior to the present modification |
11.01.2010 |
|
Particulars of
the present modification |
Under this
modification total amount of charge has been increased from Rs.92.500 millions
to Rs.105.000 millions divided as follows: CC -
Hypothecation - Rs.85.000 millions Term Loan
Rs.15.000 millions Bank Guarantee -
Rs.5.000 millions |
|
Corporate
identity number of the company |
U34201GJ1965PTC001320 |
|
Name of the
company |
STANDARD RADIATOR
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
1/12, Industrial
Estate, Growa, Vadodara - 390 016, |
|
This form is for |
Modification of charge
|
|
Charge
identification number of the modified |
80011080 |
|
Type of charge |
Book Debts Others stock of raw
material, finished good, consumable, |
|
Particular of
charge holder |
Oriental Bank of Commerce, |
|
Nature of
description of the instrument creating or modifying the charge |
Supplemental
Agreement to secure Credit / Loan Facility |
|
Date of
instrument Creating the charge |
11.01.2010 |
|
Amount secured by
the charge |
Rs.92.500
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest CC -
Hypothecation 10.75% with a monthly rest. FDCP @ 9.50% commission on LC as
per bank schedule of charges Terms of
Repayment subject to yearly
review Margin CC @ 25% and LC and BG @ 20%, Extent and
Operation of the charge First and
Exclusive charge in favour of Oriental Bank of Commerce Others CC -
Hypothecation - Rs.75.000 millions (with a sub limit PC/FPC/FDBP/FUBDP
Rs.15.000 millions, BP/BD Rs.2.500 millions, LC Rs.7.500 millions) Term Loan
Rs.15.000 millions and Bank Guarantee -
Rs.2.500 millions) Total amounting
to Rs.92.500 millions. |
|
Short particulars
of the property charged |
Hypothecation of
stock of raw materials, stock in process, finished goods, consumables,
packing material, advance to suppliers and book debts, etc. |
|
Date of latest
modification prior to the present modification |
07.02.2009 |
|
Particulars of
the present modification |
Under this
modification total amount of charge has been reduced to Rs.92.500 millions
divided as follows: CC - Hypo -
Rs.75.000 millions Term Loan
Rs.15.000 millions Bank Guarantee -
Rs.2.500 millions |
TRADE REFERENCES:
·
Baroda Metal, Baroda
·
Ashirvad Autotech, Baroda
FIXED ASSETS
- Building
- Plant and Machinery
- Furniture and Fixture
- Office Equipments
- Electric Fittings
- Air Conditioners
- Vehicles
- Data Processing Machine
WEBSITE DETAILS:
PROFILE:
The company based in Western India specialising in Design and Manufacture of Heat Exchangers for a wide range of applications – Automotive, Earthmoving, Construction, Locomotive, Material Handling and Industrial equipments.
More than 4 decades of the rich experience in design and manufacture of Heat Exchangers makes them capable of providing cooling solutions that are feasible, reliable and economical.
They are an ISO/TS 16949 and ISO 9001 certified company and are associated with more than 20 Original Equipment Manufacturers worldwide.
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.46.97 |
|
|
1 |
Rs.74.21 |
|
Euro |
1 |
Rs.63.66 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
51 |
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.