MIRA
INFORM REPORT
|
Report Date : |
17.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
ENPRO INDUSTRIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
D 12/4, MIDC, Chinchwad, Pune – 411019, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
15.03.1999 |
|
|
|
|
Com. Reg. No.: |
25-13421 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.40.345
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74210PN1999PTC013421 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEE01528C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACE6137H |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Mechanical Fluid Systems like Lube Oil System
Injection System, Fuel Handling Systems, Gas Handling and Filteration Skids. |
|
|
|
|
No. of Employees
: |
300 – Approximately (Office – 50 and Factory – 250) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1000000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. Trade relations
are reported as fair. Business is active. Payments are reported to be 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.
INFORMATION PARTED BY
|
Name : |
Mr. Murali Iyer |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-20-67308000 |
|
Date : |
16.09.2011 |
LOCATIONS
|
Registered Office/ Factory 1 : |
D 12/4, MIDC, Chinchwad, Pune – 411019, Maharashtra, India |
|
Tel. No.: |
91-20-67308000/ 66113656/ 27478292 |
|
Mobile No.: |
91-9423006306 (Mr. Sri Krishna Karkare) |
|
Fax. No. : |
91-20-27478292 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
3500 Sq. ft |
|
Location : |
Owned |
|
|
|
|
Head Office/ Factory 2 : |
A-17, H-Block, MIDC, Pimpri, Pune – 411018, Maharashtra, India |
|
Tel. No.: |
91-20-66113666 and 27472157 |
|
Fax No.: |
91-20-27470909 |
|
E-Mail : |
|
|
Location : |
Owned |
DIRECTORS
|
Name : |
Mr. Srikrishna Bhargava Karkare |
||||||||||||||||||||||||
|
Designation : |
Chairman cum Managing Director |
||||||||||||||||||||||||
|
Address : |
378, Sector 24, PCNTDA, |
||||||||||||||||||||||||
|
Date of Birth/Age : |
13.10.1959 |
||||||||||||||||||||||||
|
Qualification : |
Graduate |
||||||||||||||||||||||||
|
Date of Appointment : |
01.07.1999 |
||||||||||||||||||||||||
|
DIN No.: |
00409347 |
||||||||||||||||||||||||
|
Other Directorship : |
|
||||||||||||||||||||||||
|
|||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Name : |
Ms. Alka Srikrishna Karkare |
||||||||||||||||||||||||
|
Designation : |
Whole Time Director |
||||||||||||||||||||||||
|
Address : |
378, Sector 24, PCNTDA, |
||||||||||||||||||||||||
|
Date of Birth/Age : |
21.10.1959 |
||||||||||||||||||||||||
|
Qualification : |
Graduate |
||||||||||||||||||||||||
|
Date of Appointment : |
01.07.1999 |
||||||||||||||||||||||||
|
DIN No.: |
00409408 |
||||||||||||||||||||||||
|
Other Directorship : |
|
||||||||||||||||||||||||
|
|||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Murali Iyer |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 15.07.2009)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Srikrishna Bhagava Karkare |
|
2404400 |
|
Alka Srikrishna Karkare |
|
1434427 |
|
Siddharth Srikrishna Karkare |
|
97825 |
|
Arjun Srikrishna Karkare |
|
97823 |
|
|
|
|
|
Total |
|
4034475 |
(AS ON 30.09.2009)
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Mechanical Fluid Systems like lube oil system
injection system, fuel handling systems, gas handling and filteration skids. |
|
|
|
|
Products : |
·
Lube Oil Systems ·
Fuel Handling Skids ·
Fuel Gas/ Offshore Gas/ Refinery Gas Handling
Systems ·
Chemical Injection Systems ·
Seal Gas Units ·
·
Air Processing Units ·
Code Stamped Pressure Vessels and Heat Exchangers |
|
|
|
|
Exports : |
|
|
Products : |
Gas Handling |
|
Countries : |
· Japan · USA |
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
· Germany · France |
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Cash and Credit (30 Days) |
|
|
|
|
Purchasing : |
L/C, Cash and Credit (30 Days) |
GENERAL INFORMATION
|
Customers : |
·
GE Power Systems, ·
Siemens - Demag Delaval Turbomachinery ·
GE Energy Products, Europe ( ·
·
Nuovo Pignone (GE Oil and Gas), ·
Reliance Industries Limited ·
Shin Nippon Machinery, ·
Bharat Heavy Electricals Limited ·
·
Larsen and Toubro Limited ·
Ebara Corporation, ·
Alstom Power / Projects ( ·
Peter Brotherhood, ·
Kirloskar Ebara Pumps Limited ·
·
Sulzer Pumps India Limited ·
ZEECO Inc, ·
KSB Pumps Limited ·
TOYO Denki Power Systems Limited, Japan/India ·
Demag Kirloskar Compressors Limited ·
TOYO Engineering Corporation, Japan/India ·
Thyssen-Krupp Industries ·
Shin Thermo Dynamic ·
Bharat Petroleum Corporation Limited End Users and OEM’s |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Suppliers : |
· Alfa Laval · Sandvik Asia |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
300 – Approximately (Office – 50 and Factory – 250) |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
·
The Saraswat Co-Operative Bank Limited, Pimpri Chinchwad Branch, Chinchwad, Pune-411018, Maharashtra, India ·
State Bank of India, Gresham House, Sir P.M. Road, For, Mumbai-400001, Maharashtra, India ·
HDFC Bank Limited ·
Kotak Mahindra Bank ·
Barclays Bank ·
Standard Chartered Bank Limited ·
YES Bank, |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institute: |
·
First Leasing Company of India Limited, 749l,
Anna Salai, Chennai-600002, Tamilnadu, India ·
Cholamandalam DBS Finance Limited |
|
|
|
|
Auditors : |
|
|
Name : |
R M Rajapurkar and Company Chartered Accountant |
|
Address : |
1- Regent Avenue, Sambhaji Chowk, Pradhikaran,
Nigdi, Pune-411044, Maharashtra, India |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5250000 |
Equity Shares |
Rs.10/- each |
Rs.52.500 Millions |
|
|
|
|
|
Issued, Subscribed and Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4034475 |
Equity Shares |
Rs.10/- each |
Rs.40.345
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 |
40.345 |
40.345 |
40.345 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
213.548 |
154.966 |
98.020 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
253.893 |
195.311 |
138.365 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
392.709 |
194.358 |
166.246 |
|
|
2] Unsecured Loans |
4.300 |
4.300 |
14.921 |
|
|
TOTAL BORROWING |
397.009 |
198.658 |
181.167 |
|
|
DEFERRED TAX LIABILITIES |
0.933 |
0.670 |
0.602 |
|
|
|
|
|
|
|
|
TOTAL |
651.835 |
394.639 |
320.134 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
140.268 |
67.342 |
36.286 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
100.845 |
0.025 |
0.025 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.194 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
89.925
|
106.066
|
90.370 |
|
|
Sundry Debtors |
273.060
|
194.790
|
183.497 |
|
|
Cash & Bank Balances |
5.548
|
0.308
|
6.999 |
|
|
Other Current Assets |
67.314
|
39.304
|
48.994 |
|
|
Loans & Advances |
24.030
|
10.656
|
10.739 |
|
Total
Current Assets |
459.877
|
351.124
|
340.599 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
11.228
|
7.132
|
27.819 |
|
|
Other Current Liabilities |
7.031
|
3.619
|
(0.670) |
|
|
Provisions |
30.896
|
13.292
|
29.640 |
|
Total
Current Liabilities |
49.155
|
24.043
|
56.789 |
|
|
Net Current Assets |
410.722
|
327.078
|
283.810 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.013 |
|
|
|
|
|
|
|
|
TOTAL |
651.835 |
349.639 |
320.134 |
|
|
Particulars |
|
|
31.03.2011 |
|
Sales Turnover (Approximately) |
|
|
777.700 |
|
|
|
|
|
The above information has been parted by Mr. Murali Iyer.
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
747.003 |
570.837 |
|
|
|
Other Income |
|
2.694 |
0.961 |
|
|
|
TOTAL (A) |
|
749.697 |
571.798 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Material Costs |
|
450.065 |
315.164 |
|
|
|
Employee Costs |
|
70.905 |
61.433 |
|
|
|
Manufacturing Costs |
|
72.669 |
54.310 |
|
|
|
Administrative Costs, Selling and Distribution Costs |
|
46.178 |
40.557 |
|
|
|
TOTAL (B) |
|
639.817 |
471.464 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
109.880 |
100.334 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
20.060 |
27.328 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
89.820 |
73.006 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
5.106 |
5.126 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
84.714 |
67.880 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
14.854 |
8.254 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
|
69.860 |
59.626 |
|
|
|
|
|
|
|
|
|
|
IMPORT VALUE |
|
91.027 |
105.702 |
|
|
|
|
|
|
|
|
|
|
EXPORT VALUE |
|
269.634 |
248.494 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
17.32 |
14.78 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
9.31
|
10.42
|
NA
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
11.34
|
11.89
|
NA
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
14.11
|
16.22
|
NA
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.33
|
0.35
|
NA
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.75
|
1.14
|
1.72 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
9.35
|
14.60
|
5.99 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
(Rs. In Millions) |
||
|
|
|
|
|
|
|
|
|
|
|
Sundry Creditors |
11.228
|
7.132
|
27.819 |
|
|
|
|
|
|
Check list by info
Agents |
Available in Report (Yes/ No) |
|
|
|
|
Year of Establishment |
Yes |
|
Locality of the Firm |
Yes |
|
Constitution of the Firm |
Yes |
|
Premises details |
Yes |
|
Type of Business |
Yes |
|
Line of Business |
Yes |
|
Promoter’s Background |
Yes |
|
No. of Employees |
Yes |
|
Name of Person Contacted |
Yes |
|
Designation of Contact person |
Yes |
|
Turnover of Firm for last three years |
Yes |
|
Profitability for last three years |
No |
|
Reasons for variation <> 20% |
No |
|
Estimation for coming financial year |
No |
|
Capital in the business |
Yes |
|
Details of sister concerns |
No |
|
Major Suppliers |
Yes |
|
Major Customers |
Yes |
|
Payments Terms |
Yes |
|
Export/ Imports Details (If applicable) |
Yes |
|
Market Information |
-- |
|
Litigations that the firm/ Promoters Involved in |
|
|
Banking details |
Yes |
|
Banking Facility Details |
-- |
|
Conduct of the Banking Account |
-- |
|
Buyer visit details |
-- |
|
Financials, if provided |
-- |
|
Incorporation details is applicable |
-- |
|
Last Accounts filed at ROC |
-- |
|
Major Shareholders, if available |
-- |
PERFORMANCE:
This is the Tenth Year of Subject and The Seventh Year of its Export Oriented
Division. Although company posted a negative growth in revenues in comparison
to previous year the turnover of the company has been in line with the growth
pattern of average CAGR of About 30%. Due to sustained efforts the export
percentage of the sales has increased from 22% to 43%. Consequently the PAT
percentage to Sales revenue has improved from 9.26% to 10.46%.
Large prestigious orders form Elliot Ebara Corporation
REVIEW OF
OPERATIONS:
The renewal audits for ASME U Stamp and ISO 9001:2000 quality system
certification were success fully completed in this year. Thus ensuring
maintenance of world class quality standards. Several training programmes for
lean manufacturing were conducted. Improved management of production and
procurement practice has resulted in improved on – Time performance and
improved inventory control.
CONTINGENT
LIABILITIES
Contingent
Liabilities not provided for:-
Un-expired Bank Guarantees/ Letters of Credit issued to third Parties as
on 31st March 2010 is Rs.135.004 Millions
Claims against Companies not admitted as debts – Nil as per information
and explanation given.
Disputed taxation, Income Tax, excise, sales Tax etc – Nil as per information
and explanation given.
Estimated amount of contracts remaining to be executed on capital
account (Net of Advances) Rs. Nil.
TRADE REFERENCES
˛
Reliance
˛
Cemens
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Name of the company |
ENPRO INDUSTRIES PRIVATE LIMITED |
|
Presented By |
ENPRO INDUSTRIES PRIVATE LIMITED |
|
1) Date and description of instrument creating the change |
Agreement of Hypothecation of movable property dated 17.07.2003 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs.2.500 Millions |
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Hypothecation of tangible movable property/ machinery/ plant both present and future |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Rate of Interest 14.50% p.a. |
|
5) Name and Address and description of the person entitled to the charge. |
The Saraswat Co-Operative Bank Limited, Pimpri Chinchwad Branch,
Chinchwad, Pune-411018, |
|
6) Date and brief description of instrument modifying the charge |
N.A |
|
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
N.A |
|
Corporate
identity number of the company |
U74210PN1999PTC013421 |
||||||||
|
Name of the
company |
ENPRO INDUSTRIES PRIVATE LIMITED |
||||||||
|
Address of the
registered office or of the principal place of business in |
D 12/4, MIDC, Chinchwad, Pune-411019, |
||||||||
|
This form is for |
Creation of
Charge |
||||||||
|
Type of charge |
|
||||||||
|
Particular of
charge holder |
State Bank of |
||||||||
|
Nature of instrument
creating charge |
Joint Deed of
Hypothecation of movable machinery and plant to secure term loan Joint Term Loan
Agreement Memorandum of
Deposit for creation of further charge for overall limit where the initial charge
is created by way of mortgage by deposit of title deeds (All the agreements
constitute a single charge) |
||||||||
|
Date of
instrument Creating the charge |
30.09.2009 |
||||||||
|
Amount secured by
the charge |
Rs.185.100 Millions |
||||||||
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest As per sanction
letters of various banks Terms of
Repayment As per sanction
letters of various banks Margin As per sanction
letters of various banks Extent and Operation
of the charge
|
||||||||
|
Description of
the property charged indicating whether it is a charged on |
·
The whole
of the Fixed Assets of the Company namely, Plant & Machinery and all
other movable properties, both present and future. ·
The
whole of the Fixed Assets of the Company namely, Plant & Machinery and
all other movable properties, both present and future. ·
Gat
No 216:All that pieces and parcel of land parcel Gat No 216 out of which are
admn 09 R industrial zone, situated at Village, Markal, Tal Khed Dist Pune. ·
Gat
No 215:All that pieces and parcel of land parcel Gat No 215/2 out of which
are admn 04 R industrial zone, situated at Village, Markal, Tal Khed Dist
Pune. ·
Gat
No 218:All that pieces and parcel of land parcel Gat No 218 out of which are
admn 94.5 R industrial zone, situated at Village, Markal, Tal Khed Dist Pune. ·
Gat No
219:All that pieces and parcel of land parcel Gat No 219 out of which are
admn 99 R industrial zone, situated at Village, Markal, Tal Khed Dist Pune. |
FIXED ASSETS:
·
Land
·
·
·
Furniture and Fixture
·
Vehicles
·
Plant and Machinery
·
Electrical Installation
·
Office Equipments
·
Computer and Periphera
·
Trademark and Patents
·
Books and Standards
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.47.47 |
|
|
1 |
Rs.74.96 |
|
Euro |
1 |
Rs.65.79 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
49 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.