MIRA
INFORM REPORT
|
Report Date : |
04.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
THE MOBILESTORE LIMITED (w.e.f 30.10.2007) |
|
|
|
|
Formerly Known
As : |
ESSAR TELECOM RETAIL LIMITED |
|
|
|
|
Registered
Office : |
Essar House, 11, K K Marg, Mahalaxmi, Mumbai- 400 034, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
22.03.2006 |
|
|
|
|
Com. Reg. No.: |
11-160647 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.333.200
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51900MH2006PLC160647 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUME06487F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACFE1386K |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Chain of mobile stores that provides multi brand handsets,
accessories, etc. |
|
|
|
|
No. of Employees
: |
Not Divulged by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (20) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is a part of Essar Group. It is an established company having
moderate track. There appears huge accumulated losses recorded by the
company. Profitability of the company is under pressure. However, trade
relations are reported as fair. Business is active. Payments are reported to
be slow. The company can be considered for business dealings on a secured 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 (GENERAL DETAILS)
|
Name : |
Mr. Satish Patil |
|
Designation : |
Manager |
|
Contact No.: |
91-9890648455 |
|
Date : |
03.04.2012 |
LOCATIONS
|
Registered Office : |
Essar House, 11, K K Marg, Mahalaxmi, Mumbai- 400 034, Maharashtra,
India. |
|
Tel. No.: |
91-22-67447727/ 66601100/ 40011100/ 67335000 |
|
Mobile No.: |
91-9890648455 (Mr. Satish Patil) |
|
Fax No.: |
91-22-67082177/ 66669435 / 67447530 / 66669426 |
|
E-Mail : |
|
|
Website : |
www.themobilestore.in |
|
Area : |
Owned |
|
|
|
|
Corporate Office : |
Essar Techno Park, Building ‘B’, 1st Floor, Pyramid Infotech
Park, Swan Mill Compound, LBS Marg, Kurla (West), Mumbai-400070, Maharashtra,
India |
|
Tel. No.: |
91-22-67335000/60006363 |
|
Fax No.: |
91-22-67082177 |
|
E-mail : |
|
|
|
|
|
Warehouse : |
Located at: ·
Chembur West ·
Bhiwandi |
|
|
|
|
The |
Located At:
|
|
|
|
|
Retail Office |
Located At:
|
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Ashish Rajgarhia |
|
Designation : |
Director |
|
Address : |
Madan Smruti,
1137, Veer Sawarkar Marg, Cadel Road, Shivaji Park, Mumbai - 400025,
Maharashtra, India |
|
Date of Birth : |
16.07.1979 |
|
Date of Appointment : |
15.12.2009 |
|
DIN No.: |
01822280 |
|
|
|
|
Name : |
Mr. Suresh Sundaram |
|
Designation : |
Director |
|
Address : |
Flat No.7, 3rd
Floor, Battery House, Warden Road, Plot No. 74, Mumbai – 400026, Maharashtra,
India |
|
Date of Birth : |
03.10.1942 |
|
Date of Appointment : |
15.12.2009 |
|
DIN No.: |
00063535 |
|
|
|
|
Name : |
Mr. Kamlesh Niranjan Sarangi |
|
Designation : |
Director |
|
Address : |
Plot No. 503, Floor 5, Lakschandi Height, Gokuldham, Goregaon (East),
Mumbai - 400063, Maharashtra, India |
|
Date of Birth : |
28.11.1971 |
|
Date of Appointment : |
03.03.2010 |
|
DIN No.: |
02852838 |
|
|
|
|
Name : |
Mr. Girish Sathe |
|
Designation : |
Director |
|
Address : |
2, Neelkanth
Deep, Bhaskar Colony, Naupada, Thane, Mumbai – 400602, Maharashtra, India |
|
Date of Birth : |
16.08.1970 |
|
Date of Appointment : |
25.03.2010 |
|
DIN No.: |
00022998 |
|
|
|
|
Name : |
Mr. Govindaraghavan Venkataraman |
|
Designation : |
Director |
|
Address : |
Flat No.
171/172, 17th Floor, Kalpataru Residency, Sion Circle, Sion (East), Mumbai -
400022, Maharashtra, India |
|
Date of Birth : |
16.07.1945 |
|
Date of Appointment : |
17.05.2010 |
|
DIN No.: |
00008683 |
|
|
|
|
Name : |
Mr. Sudip Rungta |
|
Designation : |
Director |
|
Address : |
Shubhada Apartment, Flat No. 101, First Floor, 63, Sir Pochkanwala
Road, Worli, Mumbai – 400030, Maharashtra, India |
|
Date of Birth : |
13.09.1971 |
|
Date of Appointment : |
18.04.2011 |
|
DIN No.: |
03146989 |
|
|
|
|
Name : |
Mr. Haseeb Ahmad Drabu |
|
Designation : |
Additional Director |
|
Address : |
Flat No. 1101, 11th Floor, Hicon Residency, 26th
Road, Bandra (West), Mumbai – 400050, Maharashtra, India |
|
Date of Birth : |
10.04.1961 |
|
Date of Appointment : |
16.03.2012 |
|
DIN No.: |
00489888 |
KEY EXECUTIVES
|
Name : |
Ms. Neelam Vyas |
|
Designation : |
Secretary |
|
Address : |
Ambika
Tower, A Wing, Flat No. 202, Opposite Aghadi Nagar, Jija Mata Chowk, Near
Pump House, Andheri, East, Mumbai – 400093, Maharashtra, India |
|
Date of Birth/Age : |
24.10.1983 |
|
Date of Appointment : |
01.12.2007 |
|
PAN NO: |
AETPV3741C |
|
|
|
|
Name : |
Mr. Satish Patil |
|
Designation : |
Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Essar Retail Holdings Limited |
|
29278940 |
|
Essar Retail Holdings Limited and S. Shankaranarayanan |
|
10 |
|
Essar Retail Holdings Limited and Madan Mundhra |
|
10 |
|
Essar Retail Holdings Limited and Girish K. Sathe |
|
10 |
|
Essar Retail Holdings Limited and B. Shivkumar |
|
10 |
|
Essar Retail Holdings Limited and V. Ganeshan |
|
10 |
|
Essar Retail Holdings Limited and Vipul Shah |
|
10 |
|
IL and FS Trust Company Limited on behalf of Tara India Fund III
Domestic Trust |
|
10 |
|
Total |
|
29279010 |
|
Names of Shareholders (Preference Shares) |
|
No. of Shares |
|
IL and FS Trust Company Limited on behalf of Tara India Fund III
Domestic Trust |
|
4038473 |
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 : |
Chain of mobile stores that provides multi brand handsets, accessories,
etc. |
|
|
|
|
Products : |
Telecom Products and Services |
|
|
|
|
Terms : |
|
|
Selling : |
Cash/ Credit |
|
|
|
|
Purchasing : |
Cash/ Credit |
GENERAL INFORMATION
|
Customers : |
Retailers |
|||||||||||||||||||||
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|||||||||||||||||||||
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No. of Employees : |
Not Divulged by the management |
|||||||||||||||||||||
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|
|||||||||||||||||||||
|
Bankers : |
·
Punjab
National Bank – Foreshore Road ·
State
Bank of Patiala – Nariman Point Branch ·
UCO
Bank – Nariman Point Branch ·
Jammu
Kashmir Bank – Worli Branch ·
Axis
Bank – Nariman Point Branch |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
Notes: 1. Term Loans
are secured by way of charge on all immovable properties both present and
future and all moveable properties. And second pari passu charge on the
entire stock, inventory, receivables, bills and other chargeable current
assets, both present and future. 2. Cash Credit
Facilities are secured by way of first pari passu charge on entire stock,
inventory, receivables and other chargeable current assets; and second pari
passu charge on all the company's immovable properties, moveable properties
and any other fixed assets, both present and future. 3. Term Loans
and Cash credit are secured by way of corporate guarantee given by Essar
Investments Limited, the ultimate Holding Company.
(A) Includes
short term inter corporate deposits of Rs.1082.300 Millions |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S R Batliboi and Company Chartered Accountants |
|
Address : |
Jalan Mill Compound, 95 Ganatrao Marg, Lower Parel, Mumbai-400013, |
|
Tel. No.: |
91-22-40356300 |
|
Fax No.: |
91-22-40356400 |
|
PAN.: |
AALFS0506L |
|
|
|
|
Holding Company
: |
Essar Retail Holdings Limited CIN No.:
U51909MH2006PLC164605 |
|
|
|
|
Ultimate Holding
Company : |
Essar Investments Limited (EIL) CIN No.:
L99999MH1976PLC034721 |
|
|
|
|
Fellow Subsidiaries
: |
·
Essar Information Technology Limited (EITL) CIN
No.: U72200MH1992PLC064816 ·
Impact Retail Private Limited (IRPL) CIN
No.: U74120HR2007PTC039021 |
CAPITAL STRUCTURE
As on 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
35000000 |
Equity Share |
Rs.10/- each |
Rs.350.000 Millions |
|
5000000 |
Non-Cumulative Compulsorily Convertible Preference Shares |
Rs.10/- each |
Rs.50.000 Millions |
|
|
TOTAL |
|
Rs.400.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
29279010 |
Equity Shares |
Rs.10/- each |
Rs.292.790
Millions |
|
4038473 |
Non Cumulative Compulsorily Convertible Preference Shares |
Rs.10/- each |
Rs.40.385
Millions |
|
|
TOTAL |
|
Rs.333.175 Millions |
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
30000000 |
Equity Share |
Rs.10/- each |
Rs.300.000 Millions |
|
5000000 |
Non-Cumulative Compulsorily Convertible Preference Shares |
Rs.10/- each |
Rs.50.000 Millions |
|
|
TOTAL |
|
Rs.350.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
29280000 |
Equity Shares |
Rs.10/- each |
Rs.292.800
Millions |
|
4040000 |
Non Cumulative Compulsorily Convertible Preference Shares |
Rs.10/- each |
Rs.40.400
Millions |
|
|
TOTAL |
|
Rs.333.200 Millions |
Actual no. of shares issued 29279010
Actual no. of shares paid up 4038473
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 |
333.200 |
333.200 |
259.600 |
|
|
2] Share Application Money |
1020.600 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
2888.700 |
2549.700 |
2246.200 |
|
|
4] (Accumulated Losses) |
(7124.800) |
(5123.300) |
(3414.500) |
|
|
NETWORTH |
(2882.300) |
(2240.400) |
(908.700) |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
2488.000 |
3238.900 |
3171.700 |
|
|
2] Unsecured Loans |
0.000 |
1082.300 |
0.000 |
|
|
TOTAL BORROWING |
2488.000 |
4321.200 |
3171.700 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
(394.300) |
2080.800 |
2263.000 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
471.000 |
1160.800 |
1371.800 |
|
|
Capital work-in-progress |
71.300 |
200.100 |
435.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.100 |
281.400 |
0.100 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
598.200
|
1063.300
|
914.700
|
|
|
Sundry Debtors |
115.800
|
116.700
|
95.400
|
|
|
Cash & Bank Balances |
67.100
|
391.500
|
104.000
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
177.400
|
219.400
|
134.200
|
|
Total
Current Assets |
958.500
|
1790.900
|
1248.300
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1986.200
|
1509.100
|
901.000
|
|
|
Other Current Liabilities |
144.300
|
134.200
|
219.000
|
|
|
Provisions |
16.200
|
24.900
|
17.300
|
|
Total
Current Liabilities |
2146.700
|
1668.200
|
1120.000
|
|
|
Net Current Assets |
(1188.200)
|
122.700
|
128.300
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
LONG TERM DEPOSITS |
251.500 |
315.800 |
327.800 |
|
|
|
|
|
|
|
|
TOTAL |
(394.300) |
2080.800 |
2263.000 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue |
10628.800 |
11432.200 |
11005.900 |
|
|
|
Other Income |
15.200 |
0.700 |
3.300 |
|
|
|
TOTAL (A) |
10644.000 |
11432.900 |
11009.200 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption materials changes inventories |
9980.300 |
10345.100 |
|
|
|
|
Employee related costs |
389.800 |
701.000 |
|
|
|
|
Administrative selling other expenses |
1295.700 |
1121.700 |
|
|
|
|
TOTAL (B) |
11665.800 |
12167.800 |
12147.700 |
|
|
|
|
|
|
|
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(1021.800) |
(734.900) |
(1138.500) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
417.100 |
413.200 |
332.700 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE/(LOSS) TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
(1438.900) |
(1148.100) |
(1471.200) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
562.600 |
560.600 |
385.700 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) BEFORE TAX (E-F) (G) |
(2001.500) |
(1708.700) |
(1856.900) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
8.400 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) AFTER TAX (G-H) (I) |
(2001.500) |
(1708.700) |
(1865.300) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(5123.300) |
(3414.600) |
(1549.200) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(7124.800) |
(5123.300) |
(3414.500) |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Merchandise |
0.000 |
113.900 |
42.900 |
|
|
|
Capex |
0.600 |
1.500 |
0.000 |
|
|
TOTAL IMPORTS |
0.600 |
115.400 |
42.900 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
-
Basic |
(68.37) |
(61.54) |
(78.59) |
|
|
|
-
Diluted |
(68.37) |
(61.54) |
(78.59) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
(18.80)
|
(14.95)
|
(16.94)
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(18.83)
|
(14.94)
|
(16.87)
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(140.01)
|
(125.55)
|
(70.87)
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.69)
|
(0.76)
|
(2.04)
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.61
|
2.67
|
4.72
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.45
|
1.07
|
1.11
|
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors:
(Rs. in millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Creditors due
small micro enterprises |
0.000 |
0.000 |
0.000 |
|
Creditors due
others |
1986.200
|
1509.100
|
901.000
|
|
Total |
1986.200
|
1509.100
|
901.000
|
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
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 |
-- |
|
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 |
No |
|
12) Profitability for last three years |
No |
|
13) Reasons for variation <> 20% |
No |
|
14) Estimation for coming financial year |
No |
|
15) Capital in the business |
No |
|
16) Details of sister concerns |
No |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
Yes |
|
20) Export / Import details (if applicable) |
No |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
No |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
No |
|
28) Incorporation details, if applicable |
-- |
|
29) Last accounts filed at ROC |
-- |
|
30) Major Shareholders, if available |
-- |
FINANCIAL RESULTS AND
OPERATIONS:
The company is
having PAN India presence and has been operating through 836 retail stores
across 143 cities in India as on 31st March, 2011. At present, the Company is a
market leader and is enjoying around 40% of the organized market.
Pursuant to a
Scheme of arrangement (the Scheme) under sections 391 to 394 of the Companies
Act 1956, with effect from April 1, 2010 (the Appointed Date), the Company has
demerged the Cash and Carry business to The MobileStore Services Limited
(‘TMSSL’).
The Effective date
of the Scheme as approved by Hon’ble High Court of Mumbai on July 16, 2010 is
August 16, 2010. The Scheme is operative from the Appointed Date.
In terms of the
approved Scheme, all assets and liabilities of Cash and Carry business have been
demerged and transferred with effect from the Appointed Date at their
respective book values on that date.
The Company
carried on the Cash and Carry businesses and activities for the benefit of and
in trust for, TMSSL till the Effective date. Thus, the profit or income
accruing or arising to the Company, or expenditure or losses arising or
incurred during the period April 1, 2010 to August 16, 2010 are treated as the
profit or income or expenditure or loss as the case may be, of TMSSL. The
Scheme has accordingly been given effect to in these financial statements.
Contingent
Liabilities (As on 31.03.2011)
·
Claims against the Company not acknowledged as
debts – Rs.13.200 Millions
Fixed
Assets:
·
Leasehold Improvements
·
Furniture and Fixture
·
Office Equipments
·
Computer
·
Software
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.50.56 |
|
|
1 |
Rs.81.05 |
|
Euro |
1 |
Rs.67.49 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
20 |
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.