MIRA
INFORM REPORT
|
Report Date : |
21.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
TOPLINE SWITCHGEAR PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
A-105, Satkar Apartment, Near Udgam School, Drive-in-Road, Thaltej,
Ahmedabad – 380054, Gujarat |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
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|
|
|
Date of
Incorporation : |
12.06.2006 |
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Com. Reg. No.: |
04-048444 |
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Capital
Investment / Paid-up Capital : |
Rs.1.500 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31200GJ2006PTC048444 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMT02472B |
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|
|
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PAN No.: [Permanent Account No.] |
AACCT4765C |
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|
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Electrical Transmission Line, Switch Gear
and Structures. |
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|
|
|
No. of Employees
: |
70 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (41) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 20000 |
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|
|
|
Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track records. It
has recorded a better increase in its sales turnover and profitability during
2011. Profitability appears to be low. However, trade relations are reported as fair. Business is active.
Payments are reported to be slow but correct. The company can be considered for business dealings at usual trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Dharmesh |
|
Designation : |
Accountant |
|
Contact No.: |
91-9909906782 |
LOCATIONS
|
Registered Office : |
A-105, Satkar Appartment,
Near Udgam School, Drive-in-Road, Thaltej, Ahmedabad – 380054,
Gujarat, India |
|
Tel. No.: |
91-79-26856000/ 22810666 |
|
Mobile No.: |
91-9825120626 (Mr. Shailesh Patel) 91-9909906782 (Mr. Dharmesh) |
|
Fax No.: |
Not Available |
|
E-Mail : |
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|
Website : |
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|
Area : |
52 sq. yards |
|
Location : |
Owned |
|
|
|
|
Factory : |
Survey No. 797, Opposite Riddhi Plastics, Vadsar-Karol Road, Gandhi Nagar
– 382721, Gujarat, India |
|
Tel. No.: |
91-2764-2856556 |
|
Area : |
8500 sq. ft |
|
Location : |
Owned |
DIRECTORS
As on: 29.09.2011
|
Name : |
Mr. Shailesh Manilal
Patel |
|
Designation : |
Director |
|
Address : |
A/105, Satkar Apartment, Behind Udgam School, Drive-in Road, Thaltej,
Ahmedabad – 380054, Gujarat, India |
|
Date of Birth/Age : |
01.03.1972 |
|
Date of Appointment : |
12.06.2006 |
|
DIN No.: |
01567689 |
|
|
|
|
Name : |
Mrs. Munliben Manilal
Patel |
|
Designation : |
Director |
|
Address : |
A/105, Satkar Apartment, Near Udgam School, Drive-in Road, Thaltej,
Ahmedabad – 380054, Gujarat, India |
|
Date of Birth/Age : |
07.10.1951 |
|
Date of Appointment : |
12.06.2006 |
|
DIN No.: |
01567679 |
|
|
|
|
Name : |
Mr. Himanshu Vinodray
Vyas |
|
Designation : |
Director |
|
Address : |
A/105, Satkar Apartment, Near Udgam School, Drive-in Road, Thaltej,
Ahmedabad – 380054, Gujarat, India |
|
Date of Birth/Age : |
18.10.1968 |
|
Date of Appointment : |
12.06.2006 |
|
DIN No.: |
02449519 |
|
|
|
|
Name of Partnership : |
Power Systems |
|
Address : |
D/72, Diamond Park, GIDC, Naroda, Ahmedabad – 382330, Gujarat, India |
|
|
|
|
Name of Proprietorship : |
Jay Ambe Diamond Company |
|
Address : |
D/72, Diamond Park, GIDC, Naroda, Ahmedabad – 382330, Gujarat, India |
KEY EXECUTIVES
|
Name : |
Mr. Dharmesh |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 29.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Shailesh Manilal Patel |
|
20003 |
|
Himanshu Vinodray Vyas |
|
16670 |
|
Muliben Manilal Patel |
|
33334 |
|
Kalpanaben Jitubhai Patel |
|
25000 |
|
Kalpesh Kantilal Patel |
|
26000 |
|
Sangitaben Shaielshbhai
Patel |
|
2333 |
|
Indumatiben Tulsidas Dave |
|
40000 |
|
Jitendrabhai Manilal Patel |
|
6670 |
|
|
|
|
|
Total |
|
170010 |
As on: 29.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
84.71 |
|
Other
top fifty shareholders |
|
15.29 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Electrical Transmission Line, Switch Gear
and Structures. |
|
|
|
|
Products : |
·
11KV, 200A AB Switch ·
11KV, 200A Changeover AB Switch ·
11KV,400A AB Switch ·
11KV,400A Goab Switch ·
11KV, 400A Disconnector
link ·
22KV, 400A AB Switch ·
33KV, 400A Rotating Isolator ·
Double Break Rotating Disconnector ·
11KV, 200A Bracket Type Do Fuse Set ·
11kv, 200a Do Fuse Set ·
22kv, 200a Do Fuse Set ·
33kv, 200a Horn Gap Fuse ·
Clamps and Connectors ·
Structure Fabrication ·
Disc Hardware Fittings ·
Insulators and Areestors ·
11KV, 200A Solid Core Do Fuse Set ·
33KV, 1200A Goab Switch |
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Exports : |
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Products : |
·
Electrical Transmission Line ·
Switch Gear |
|
Countries : |
·
Uganda ·
UK ·
Somalia |
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Imports : |
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Products : |
·
Raw Material |
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Countries : |
·
China |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
OEM’s and End Users ·
Asian Electric and Electronics ·
Asian Tubes Limited ·
Bhavsar Enterprise ·
Bini Sales Corporation ·
Des Electro Services ·
Digital Engineering Projects Private Limited ·
Does Projects Private Limited ·
Eesha Enterprise ·
Electricals India ·
Energy Systems ·
Eskey Electricals ·
Excel Crop Care Limited ·
Ganesh Engineering ·
Gujarat Adani Port
Limited ·
H.M. Engineers ·
Hasu Electricals ·
India Denim Limited ·
Industrial Trading Company ·
J. R. Enterprise ·
J.B. Traders ·
Jayesh Trading Company
·
Keshav Engineering
Company ·
Laxmi Switchgear and Instrumentation ·
Mafatlal Denim Limited ·
Mrida Associates ·
Nayan Electricals |
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No. of Employees : |
70 (Approximately) |
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Bankers : |
·
Central Bank of India, H. L. Commerce College
Area Branch, Near Vijay Char Rasta, Ahmedabad –
380009, Gujarat, India ·
Kalupur Commercial Co –
operative Bank Limited, Ahmedabad, Gujarat, India |
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Facilities : |
Cash Credit Rs.20.000 Millions (From
Central Bank of India)
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
Nalin Kantilal Thakkar Chartered Accountant |
|
Address : |
602, Samudra Annexe,
Near Hotel Classic Gold, Off. C.G. Road, Ahmedabad
– 380006, Gujarat, India |
|
Tel. No.: |
91-79-26568526 |
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Mobile No.: |
91-79-26568598 |
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Fax No.: |
91-9825047487 |
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E-Mail : |
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PAN.: |
AAKPT0207G |
CAPITAL STRUCTURE
As on: 29.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000 |
Equity Shares |
Rs.10/- each |
Rs.2.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
170010 |
Equity Shares |
Rs.10/- each |
Rs1.700
Millions |
|
|
|
|
|
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150000 |
Equity Shares |
Rs.10/- each |
Rs.1.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150000 |
Equity Shares |
Rs.10/- each |
Rs.1.500
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
1.500 |
1.500 |
1.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
3.652 |
2.256 |
1.400 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
5.152 |
3.756 |
2.900 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
15.240 |
9.991 |
5.401 |
|
|
2] Unsecured Loans |
7.911 |
5.770 |
4.615 |
|
|
TOTAL BORROWING |
23.151 |
15.761 |
10.016 |
|
|
DEFERRED TAX LIABILITIES |
0.606 |
0.483 |
0.350 |
|
|
|
|
|
|
|
|
TOTAL |
28.909 |
20.000 |
13.266 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
7.790 |
6.870 |
5.960 |
|
|
Capital work-in-progress |
3.020 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.046 |
0.046 |
0.046 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
7.260
|
4.901
|
3.648 |
|
|
Sundry Debtors |
23.321
|
12.807
|
5.228 |
|
|
Cash & Bank Balances |
0.374
|
0.174
|
0.176 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
1.856
|
1.384
|
0.597 |
|
Total
Current Assets |
32.811
|
19.266
|
9.649 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
13.414
|
5.482
|
2.218 |
|
|
Other Liabilities |
0.000
|
0.000
|
0.000 |
|
|
Provisions |
1.344
|
0.709
|
0.190 |
|
Total
Current Liabilities |
14.758
|
6.191
|
2.408 |
|
|
Net Current Assets |
18.053
|
13.075
|
7.241 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.009 |
0.019 |
|
|
|
|
|
|
|
|
TOTAL |
28.909 |
20.000 |
13.266 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
97.634 |
47.233 |
30.602 [Gross Sales] |
|
|
|
Other Income |
0.037 |
0.034 |
NA |
|
|
|
TOTAL (A) |
97.671 |
47.267 |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Materials Consumed |
81.909 |
38.537 |
|
|
|
|
Manufacturing Expenses |
5.706 |
3.005 |
NA |
|
|
|
Administrative Expenses |
5.550 |
3.187 |
|
|
|
|
Preliminary Expenses Written Off |
0.009 |
0.009 |
|
|
|
|
TOTAL (B) |
93.174 |
44.738 |
NA |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
4.497 |
2.529 |
|
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
2.079 |
0.997 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2.418 |
1.532 |
|
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.380 |
0.318 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
2.038 |
1.214 |
0.774 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.631 |
0.375 |
0.243 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
1.407 |
0.839 |
0.531 |
|
|
|
|
|
|
|
|
|
Add/ Less |
PRIOR YEAR
ADJUSTMENTS |
0.012 |
(0.017) |
NA |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2.256 |
1.400 |
NA |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
3.651 |
2.256 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss)
Per Share (Rs.) |
9.39 |
5.59 |
3.54 |
|
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
180.000 |
Expected Sales (2012-2013): Rs.230.000 Millions
The above information has been parted by Mr. Dharmesh
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.44
|
1.77 |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.09
|
2.57 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.02
|
4.64
|
4.96 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.40
|
0.32
|
0.26 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
7.36
|
5.84
|
4.28 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.22
|
3.11
|
4.01 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
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 |
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 |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if applicable) |
Yes |
|
21] |
Market information |
-- |
|
22] |
Litigations 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 |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
OPERATIONS:
This being the Fourth year of the company, it
has continued manufacturing activity of switchgear products. The company earned
Net Profit before Tax of Rs.2.038 Millions (Previous year Rs.1.214 Millions), Profit
After Tax of Rs.1.407 Millions (Previous year Rs.0.839 Millions) and achieved
gross turnover of Rs.111.414 Millions (Previous year Rs.51.198 Millions). The
Company expects good turnover and profits in the coming years. In order to
conserve the liquidity of the company, the directors have not recommended any
dividend in the year.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity
number (CIN) or foreign company registration
number of the company |
U31200GJ2006PTC048444 |
|
Name of the company
|
TOPLINE
SWITCHGEAR PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
A-105, Satkar Appartment,
Near Udgam School, Drive-in-Road, Thaltej, Ahmedabad – 380054,
Gujarat, India E-mail: nalinkth@yahoo.co.in
|
|
This form is for |
Modification
of charge |
|
Charge
identification (ID) number of the charge to be modified |
10043780 |
|
Type of charge |
Immovable
property |
|
Particular of charge
holder |
Central Bank of India, H. L. Commerce College Area Branch, Near Vijay
Char Rasta, Ahmedabad – 380009, Gujarat, India E-mail: bmahme1389@centralbank.co.in |
|
Nature of
instrument creating charge |
Memorandum of
Extension of Equitable Mortgage by Deposit of Title Deed for Rs. 12.000 Millions |
|
Date of
instrument Creating the charge |
04.01.2012 |
|
Amount secured by
the charge |
Rs.31.773
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest Cash Credit
(H)-Base Rate + 3% Sub limit
ODBD-Base Rate + 3% Bills
Discounting-as per CO Term Loan II-Base
Rate + 3%+0.50% Term Loan III
(Fresh)-Base Rate + 3%+0.50% Inland Bank
Guarantee-As per norms Terms of
Repayment As per bank's
sanction Margin (i) Cash Credit (H) - 25% Sub limit - ODBD
(up to 90 days only) - 25% (ii) Bills
Discounting (Backed by L/C - up to 90 days) - 10% (iii) Term Loan
II - 25 % (iv) Term Loan
III (Fresh) - 25% (v) Inland Bank
Guarantee - 25% Extent and
Operation of the charge ll Securities as below mentioned in Column
no.15 have been charged to Bank in order to secure following enhanced
financial assistance limit aggregating to Rs.
31.773 Millions together with interest and all other moneys payable by
Company to Lender: (i) Cash Credit (H) - Rs. 20.000
Millions Sub limit - ODBD (ii) Bills
Discounting - Rs.
2.500 Millions (iii) Term Loan
II - Rs. 4.773 Millions (iv) Term Loan III
(Fresh)- Rs. 2.500 Millions (v) Inland Bank Guarantee - Rs.
2.000 Millions Total aggregating
limit of Rs. 31.773 Millions |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Land and Building
being at survey No.797 Paiki admeasuring 3743 sq. mtrs. Along with construction of 3593 sq. mtrs., Mouje Village Vadsar, Taluka Kalol more particularly described in attached Memorandum Land and Building
being at survey No.353, Sub plot no. D-72, GIDC Estate, Mouje
Village Naroda, District Ahmedabad
more particularly described in attached Memorandum |
|
Date of
instrument modifying the charge |
02.01.2012 |
|
Particulars of
the present modification |
By virtue of said
modification, the charge created earlier and modified from time to time is
now further extended for enhanced additional Working Capital limit of Rs. 7.500 Millions, Fresh Term Loan of Rs. 2.500 Millions and Inland Bank Guarantee limit of Rs. 2.000 Millions. Now charge is valid for total
aggregate limits of Rs. 31.773 Millions. |
FIXED ASSETS:
·
Land
·
Factory Building
·
Electrification Bikes
·
Plant and Machinery
·
Furniture and Fixtures
·
Computers
·
Delivery Van
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.55.70 |
|
|
1 |
Rs.87.55 |
|
Euro |
1 |
Rs.68.85 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
41 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.