MIRA
INFORM REPORT
|
Report Date : |
26.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
VEENITA ENTERPRISES PRIVATE LIMITED |
|
|
|
|
Registered Office : |
Plot No.512/10, Road No.14, Phase – II, Kathwada, Odhav, Ahmedabad
-382 430, |
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|
|
Country : |
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|
|
|
Financials (as on) : |
31.03.2011 |
|
|
|
|
Date of Incorporation : |
12.04.2006 |
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|
|
|
Com. Reg. No.: |
04-48121 |
|
|
|
|
Capital Investment / Paid-up Capital : |
Rs.3.060 Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U51100GJ2006PTC048121 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
AHMV02659G |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AACCV2331G |
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|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business : |
Manufacture
of Aluminium Wire Rod, Shots, Ingots, Cubes, Powder and Copper Scrap. |
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|
|
|
No. of Employees : |
20 Approximately |
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 170000 |
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|
|
Status : |
Satisfactory |
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|
|
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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|
Comments : |
Subject is a well established company having satisfactory track. Trade
relations are fair. Business is active. Payments are reported to be usually
correct and as per commitments. The company can be considered for normal 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. Rahul Kalya |
|
Designation : |
Chief Executive Officer |
|
Contact No.: |
91-9913603606 |
|
Date : |
21.09.2011 |
|
|
|
|
Name : |
Mr. Vishal Shah |
|
Designation : |
Account Manager |
|
Contact No.: |
91-9909011981 |
|
Date : |
21.09.2011 |
LOCATIONS
|
Registered Office/ Factory : |
Plot No.512/10, Road No.14, Phase – II, Kathwada, Odhav, Ahmedabad -
382 430, |
|
Tel. No.: |
91-79-22901118 / 22890106 |
|
Mobile No.: |
91-9913603606 (Mr. Rahul Kalya) |
|
Fax No.: |
91-79-22890859 |
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E-Mail : |
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|
Website : |
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|
Area : |
3500 sq. mtr. |
|
Location : |
Rented and Leased (Half on Rent and Half on Lease) |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Mahendra Raj Purohit |
|
Designation : |
Director |
|
Address : |
3, Subhas Society, Navrangpura, Ahmedabad – 380 016, |
|
Date of Birth/Age : |
19.07.1973 |
|
Qualification : |
MBA |
|
Date of Appointment : |
12.04.2006 |
|
DIN No.: |
00042543 |
Other Directorship
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date of
appointment |
Company Status |
Defaulting
status |
|
1 |
U72200GJ2000PLC037622 |
B.M.J. Cables
Limited |
Director |
04-11-03 |
04-11-03 |
Active |
NO |
|
2 |
U51100GJ2006PTC048121 |
Veenita
Enterprise Private Limited |
Director |
12-04-06 |
12-04-06 |
Active |
NO |
|
3 |
L17119GJ1990PLC014407 |
Kayel Syntex
Limited |
Director |
30-09-08 |
31-01-08 |
Active |
NO |
|
|
|
|
Name : |
Mr. Kailash Chandra Kalya |
|
Designation : |
Director |
|
Address : |
A-1, Shyam Tenament, Chhotalalni Chawl, Ahmedabad – 382 410, |
|
Date of Birth/Age : |
15.07.1957 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
12.04.2006 |
|
Proprietorship Firm: |
Veenita Enterprises 512/10, Road No14, GIDC, Kathwasa, Ahmedabad – 382430, |
|
DIN No.: |
00042550 |
KEY EXECUTIVES
|
Name : |
Mr. Rahul Kalya |
|
Designation : |
Chief Executive Officer |
|
|
|
|
Name : |
Mr. Vishal Shah |
|
Designation : |
Account Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Mahendra Raj Purohit |
|
22600 |
|
Kailash Chandra Kalya |
|
22200 |
As on 30.09.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
85.00 |
|
Others
|
|
15.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacture
of Aluminium Wire Rod, Shots, Ingots, Cubes, Powder and Copper Scrap. |
|
|
|
|
Products : |
·
Aluminium Wire Rod ·
Shots ·
Ingots ·
Cubes ·
Powder ·
Copper Scrap |
|
|
|
|
Imports : |
|
|
Products : |
Aluminium Scrap |
|
Countries : |
·
·
Sharjah ·
·
|
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
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|
|
|
Purchasing : |
Credit – CAD |
GENERAL INFORMATION
|
Suppliers : |
·
·
Shar Metal Scrap, Sharjah |
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Customers : |
Manufacturer |
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No. of Employees : |
20 Approximately |
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Bankers : |
·
State Bank of ·
Axis Bank Limited 1.
Trishul, 3rd Floor, 2.
Corporate Banking Branch, 2nd Floor, 3rd
Eye 3.
Mani |
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Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Raman Jain and Company Chartered Accountant |
|
Address : |
B-31, Ghanshyam Avenue, Opposite C. U. Shah Collage, Navjivan Press
Road, Ahmedabad – 380014, Gujarat, India |
|
|
|
|
Associates/Subsidiaries : |
Ramdev Enterprises Vidya Industrial Estate, Ambika Nagar, Ahmedabad, Line of Business : Importer of Alumimium Scrap |
CAPITAL STRUCTURE
After 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1200000 |
Equity Shares |
Rs.10/- each |
Rs.12.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
305970 |
Equity Shares |
Rs.10/- each |
Rs.3.060
Millions |
As on 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
305970 |
Equity Shares |
Rs.10/- each |
Rs.3.060
Millions |
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 |
3.060 |
3.060 |
2.610 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
39.618 |
31.938 |
25.895 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
42.678 |
34.998 |
28.505 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
62.216 |
32.312 |
21.783 |
|
|
2] Unsecured Loans |
7.862 |
13.695 |
20.836 |
|
|
TOTAL BORROWING |
70.078 |
46.007 |
42.619 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
112.756 |
81.005 |
71.124 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
4.779 |
1.927 |
0.919 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
41.724
|
12.138
|
7.350
|
|
|
Sundry Debtors |
74.166
|
59.134
|
63.674
|
|
|
Cash & Bank Balances |
0.668
|
12.917
|
1.379
|
|
|
Other Current Assets |
1.253
|
0.000
|
0.000
|
|
|
Loans & Advances |
1.718
|
26.210
|
30.840
|
|
Total
Current Assets |
119.529
|
110.399
|
103.243 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
16.790
|
29.604 |
28.795 |
|
|
Others Liabilities |
(5.078)
|
0.639
|
2.889
|
|
|
Provisions |
0.084
|
1.358
|
1.671
|
|
Total
Current Liabilities |
11.796
|
31.601
|
33.355 |
|
|
Net Current Assets |
107.733
|
78.798
|
69.888 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.244 |
0.280 |
0.317 |
|
|
|
|
|
|
|
|
TOTAL |
112.756 |
81.005 |
71.124 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
|
|
485.798 |
|
|
|
Direct Income |
|
|
1.044 |
|
|
|
Indirect Income |
|
|
0.155 |
|
|
|
TOTAL |
|
|
486.997 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of goods sold |
|
|
462.781 |
|
|
|
Direct Expenses |
|
|
|
|
|
|
Add. Tax Expenses (Vat) |
|
|
0.700 |
|
|
|
Bhatti Labour Salery |
|
|
1.676 |
|
|
|
Cutting Labour Salary |
|
|
1.371 |
|
|
|
Electricbill Expenses |
|
|
0.311 |
|
|
|
ESIC Contribution |
|
|
0.069 |
|
|
|
Excise Duty Expenses |
|
|
0.001 |
|
|
|
Freight Inward |
|
|
0.596 |
|
|
|
P F Contribution |
|
|
0.020 |
|
|
|
Rate Diff. Sales |
|
|
0.056 |
|
|
|
Water Charges |
|
|
0.049 |
|
|
|
|
|
|
|
|
|
|
Indirect
Expenses |
|
|
|
|
|
|
Association Fees |
|
|
0.002 |
|
|
|
Audit Fees |
|
|
0.038 |
|
|
|
Bank Charges |
|
|
0.037 |
|
|
|
Bank Charges (LC) |
|
|
0.016 |
|
|
|
Bank Interest Paid |
|
|
7.473 |
|
|
|
Computer Repering Expenses |
|
|
0.002 |
|
|
|
Director Salary |
|
|
0.360 |
|
|
|
Excise Expenses |
|
|
0.070 |
|
|
|
Factory Rent |
|
|
0.240 |
|
|
|
Freight Outward |
|
|
0.590 |
|
|
|
GIDC Expenses |
|
|
0.139 |
|
|
|
Income Tax Expenses |
|
|
0.023 |
|
|
|
Insurance Expenses |
|
|
0.113 |
|
|
|
Interest Paid Car Loan |
|
|
0.147 |
|
|
|
L C Discounting Charges and Interest |
|
|
0.215 |
|
|
|
Legal and Professional Fees |
|
|
0.082 |
|
|
|
Loan Processing Fees |
|
|
0.147 |
|
|
|
Misc. Expenses |
|
|
0.007 |
|
|
|
Municipal Tax |
|
|
0.067 |
|
|
|
Office Expenses |
|
|
0.004 |
|
|
|
Preliminary Expenses Written Off |
|
|
0.037 |
|
|
|
Printing and Stationary Expenses |
|
|
0.003 |
|
|
|
Professional Tax Expenses |
|
|
0.009 |
|
|
|
Professional Tax Interest |
|
|
0.007 |
|
|
|
ROC Charges |
|
|
0.002 |
|
|
|
Service Tax Expenses |
|
|
0.030 |
|
|
|
Staff Salary |
|
|
0.696 |
|
|
|
TDS/TCS Interest Expenses |
|
|
0.004 |
|
|
|
Telephone Expenses |
|
|
0.019 |
|
|
|
Travelling Expenses |
|
|
0.104 |
|
|
|
Vat Ass. Expenses |
|
|
0.050 |
|
|
|
Vat/Cst Interest |
|
|
0.001 |
|
|
|
Vehicle and Petrol Expenses |
|
|
0.070 |
|
|
|
Vehicle Repairing Expenses |
|
|
0.018 |
|
|
|
TOTAL |
|
|
478.452 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
|
8.545 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
|
0.865 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT |
|
|
7.680 |
|
Expected Sales (2011-2012) : Rs.650.000 millions
The above information has been parted by Mr. Rahul Kalya and Mr. Vishal
Shah
|
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
|
223.313 |
197.615 |
|
|
|
Other Income |
|
0.823 |
0.016 |
|
|
|
TOTAL (A) |
|
224.136 |
197.631 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases and Direct Expenses |
|
215.578 |
189.076 |
|
|
|
Employee Cost |
|
0.804 |
0.360 |
|
|
|
Administrative and Other Expenses |
|
0.558 |
0.341 |
|
|
|
Selling and Distribution Expenses |
|
0.860 |
1.246 |
|
|
|
Miscellaneous Expenditure Written Off |
|
0.036 |
0.036 |
|
|
|
Increase/(Decrease) in stock |
|
(4.788) |
0.734 |
|
|
|
TOTAL (B) |
|
213.048 |
191.793 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
11.088 |
5.838 |
|
|
|
|
|
|
|
|
|
Less |
FINANCE CHARGES (D) |
|
7.830 |
3.896 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
3.258 |
1.942 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
0.318 |
0.185 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
2.940 |
1.757 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
0.947 |
0.586 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
|
1.993 |
1.171 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
3.399 |
2.228 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
5.392 |
3.399 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
|
6.51 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.58
|
0.89 |
0.59 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.58
|
1.32 |
0.89 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.18
|
2.62 |
1.69 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18
|
0.08 |
0.06 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.92
|
2.22 |
2.67 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
10.13
|
3.49 |
3.10 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITOR
DETAILS
|
Particulars |
31.03.2011 |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
|
Sundry Creditors For Goods |
Details are not available |
29.464 |
28.171 |
|
Sundry Creditors For Expenses |
0.140 |
0.624 |
|
|
Total |
29.604 |
28.795 |
|
Sr. No. |
Check List by Info Agents |
|
|
1. |
Year of Establishment |
YES |
|
2. |
Locality of the firm |
YES |
|
3. |
Constitutions of the firm |
YES |
|
4. |
Premises details |
YES |
|
5. |
Type of Business |
YES |
|
6. |
Line of Business |
YES |
|
7. |
Promoter’s background |
YES |
|
8. |
No. of employees |
YES |
|
9. |
Name of person contacted |
YES |
|
10. |
Designation of contact person |
YES |
|
11. |
Turnover of firm for last three years |
YES |
|
12. |
Profitability for last three years |
NO |
|
13. |
Reasons for variations <> 20% |
NO |
|
14. |
Estimation for coming financial year |
YES |
|
15. |
Capital in the business |
YES |
|
16. |
Details of sister concerns |
YES |
|
17. |
Major Suppliers |
YES |
|
18. |
Major Customers |
YES |
|
19. |
Payment terms |
YES |
|
20. |
Export / Import details (is applicable) |
YES |
|
21. |
Market information |
-- |
|
22. |
Litigation that the firm / promoter involved
in |
-- |
|
23. |
Banking Details |
YES |
|
24. |
Banking facility details |
YES |
|
25. |
Conduct of the banking account |
-- |
|
26. |
Buyer visit details |
-- |
|
27. |
Financials, if provided |
YES |
|
28. |
Incorporation details, if applicable |
-- |
|
29. |
Last accounts filed at ROC |
-- |
|
30. |
Major Shareholders, is available |
-- |
FORM 8
|
Corporate
identity number of the company |
U51100GJ2006PTC048121 |
|
Name of the
company |
Veenita Enterprise Private Limited |
|
Address of the registered
office or of the principal place of
business in |
512/10, Road No. 14, G.I.D.C Kathwada, Odhav, Ahmedabad- 382430, |
|
This form is for |
Creation of charge |
|
Type of charge |
Book Debts Movable Property Others- Hypothecation Stocks, Book Debts and Plant and Machinery and
Other current Assets |
|
Particular of
charge holder |
·
State Bank of SPL Commercial Branch, Gandhigram, Opposite Gandhigram Railway
Station, Ahmedabad – 380009, |
|
Nature of
instrument creating charge |
Agreement of loan
cum hypothecation (SME-2), Dated 18/09/2007 Letter of
Arrangement (SME - 1) |
|
Date of
instrument Creating the charge |
18.09.2007 |
|
Amount secured by
the charge |
Rs.12.500
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of
Interests: Working Capital:
Interest at 1.00% above SBAR (SBAR = 12.75%) with a minimum of 13.75% p.a.
rising or falling therewith on daily products with monthly rests. (Present
effective rate 13.75% p.a.). Terms of
Repayment: Working Capital:
Repayable on Demand Margin: Raw Material
(Indigenous) - 25% Semi Finished
Goods - 40% Finished
Goods
- 40% Receivables
(Cover Period 90 days) - 50% Extent and
Operation of the charge: The Credit
Facilities of Rs.12.500 Millions to be secured by way of 1st charge against
hypothecation of all stock including Raw Materials, Semi Finished Goods,
finished Goods, Stores and Spares, Receivable/Book Debts, Plant and Machinery
and entire current assets both present and future of the company. Other terms
and conditions as per letter of arrangement enclosed herewith. Others: The Credit
Facilities Secured as Under : Fund Base: DCC
(Stocks and Receivables - Rs.11.000 Millions Stand By Line of
Credit (SLC) - Rs.1.500 Millions Making Overall
Credit Facilities of Rs.12.500 Millions. |
|
Particulars of
the property charged |
Hypothecation of
all stock including Raw Materials, Semi Finished Goods, finished Goods,
Stores and Spares, Receivable/Book Debts, Plant and Machinery and entire
current assets both present and future of the company. |
TRADE REFERENCE
·
Sampat Aluminium Private Limited, Ahmedabad
·
Bharat Alumanising Private Limited, Ahmedabad
FIXED ASSETS
·
Computers
·
Eicher Tempo
·
Mobile Instrument
·
Plant and Machinery
·
Two Wheelers
·
·
Computer Printer
·
Motor Car I20
·
Weighing Scale
·
Furnace (Bhatthi)
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.48.82 |
|
|
1 |
Rs.75.48 |
|
Euro |
1 |
Rs.66.10 |
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.