|
Report Date : |
05.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
VALSON’S COMPUTERS PRIVATE LIMITED |
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|
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Registered
Office : |
Flat No. 16, 3rd Floor, Jagdamba Apartment, Begampura,
Nawabwadi Surat-395003, |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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|
|
Date of
Incorporation : |
01.08.2008 |
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Com. Reg. No.: |
04-054663 |
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Capital
Investment/ Paid-up Capital: |
Rs.0.118 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51109GJ2008PTC054663 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
SRTV02066B |
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|
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PAN No.: [Permanent Account No.] |
AACCV7978D |
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|
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader of Computer Peripherals and Distributor of Some Companies. |
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No. of
Employees: |
24 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 7000 |
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|
|
Status : |
Moderate |
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|
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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|
Comments : |
Subject is an established company having moderate track. Profitability
of the company appears to be low. However, trade relations are reported as
fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with some caution. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
|
Source
: CIA |
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 DENIED BY
|
Name : |
Mr. Sanjay Kanodia |
|
Designation : |
Accountant |
|
Contact No.: |
91-9998736149 |
|
Date : |
30.11.2012 |
LOCATIONS
|
Registered Office : |
Flat No. 16, 3rd Floor, Jagdamba Apartment, Begampura,
Nawabwadi Surat-395003, |
|
Tel. No.: |
91-261-2423739 |
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Mobile No.: |
91-9998736149 (Mr. Sanjay) |
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Fax No.: |
91-261-2438246 |
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E-Mail : |
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Website : |
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Area : |
700 sq. ft. |
|
Location : |
Owned |
|
|
|
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Warehouse/ Sales Office : |
18th Floor 101 to 105, Prime Chambers, Opposite State Bank
of |
|
Tel. No.: |
91-261-2463371/ 2463372 |
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Location : |
Owned |
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|
|
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Branch Office: |
Located at: · Vapi |
DIRECTORS
AS ON 30.09.2012
|
Name : |
Mr. Prakash Hamirmal Sethiya |
|
Designation : |
Director |
|
Address : |
Flat No. 16, 3rd Floor, Jagdamba Apartment, Begampura,
Nawabwadi Surat-395003, |
|
Date of Birth/Age : |
11.12.1960 |
|
Date of Appointment : |
01.08.2008 |
|
DIN No.: |
02140238 |
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|
|
|
Name : |
Mr. Sukanraj Hamirmal Sethiya |
|
Designation : |
Director |
|
Address : |
Flat No. 16, 3rd Floor, Jagdamba Apartment, Begampura,
Nawabwadi Surat-395003, |
|
Date of Birth/Age : |
15.06.1971 |
|
Date of Appointment : |
01.08.2008 |
|
DIN No.: |
02140253 |
KEY EXECUTIVES
|
Name : |
Mr. Sanjay Kanodia |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Prakash Hamirmal Sethiya |
|
5900 |
|
Sukanraj Hamirmal Sethiya |
|
5900 |
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|
|
|
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Total |
|
11800 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2012
|
Category |
|
Percentage |
|
|
|
|
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Directors or relatives of directors |
|
100.00 |
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|
|
|
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Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Computer Peripherals and Distributor of Some Companies. |
|
|
|
GENERAL INFORMATION
|
Suppliers : |
·
Aar-err. electronics Private Limited ·
Abacus Peripherals Private Limited ·
Aegis Inform it Ics ·
Aegis Info ware Private Limited. ·
Best IT World find 111 Private Limited ·
Compuge Infocom Limited ·
Fortune Marketing Private Limited ·
Ingram Micro India Private Limited ·
Intex Technologies ( ·
Jupiter international limited ·
Mega Compu world Private Limited ·
Neoteric Infometique P Limited ·
P M Computers · Prit Computers |
||||||||||||||||||
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|
||||||||||||||||||
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Customers : |
·
9 Eleven ·
A to z Computers ·
A –one Computer ·
AJ infosys ·
A.V Te Mech ·
Aadi Infotech ·
ACA Technologies ·
Access Computers ·
Aditya Computer Stationery ·
Advnce Computer ·
Aksha Infotech ·
Allwin Systems ·
Anurag InfoTech
|
||||||||||||||||||
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||||||||||||||||||
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No. of Employees : |
24 (Approximately) |
||||||||||||||||||
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||||||||||||||||||
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Bankers : |
The Karur Vysya Bank Limited, 103-114, |
||||||||||||||||||
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||||||||||||||||||
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Brijesh Ariwala and Company Chartered Accountant |
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Address : |
B/106, Gopal Chambers, Opposite Ratan Cinema, Salabatpura,
Surat-395003, |
|
PAN No.: |
AHXPA0726F |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000 |
Equity Shares |
Rs.10/- each |
Rs. 0.200 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11800 |
Equity Shares |
Rs.10/- each |
Rs.0.118
Million |
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|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
0.118 |
0.118 |
0.118 |
|
|
2] Share Application Money |
0.000 |
0.000 |
1.000 |
|
|
3] Reserves & Surplus |
1.747 |
1.672 |
0.512 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1.865 |
1.790 |
1.630 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
4.547 |
2.915 |
1.136 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
4.547 |
2.915 |
1.136 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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TOTAL |
6.412 |
4.705 |
2.766 |
|
|
|
|
|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.691 |
0.804 |
0.539 |
|
|
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 |
10.956 |
8.210 |
7.715 |
|
|
Sundry Debtors |
17.758
|
16.710 |
14.768 |
|
|
Cash & Bank Balances |
0.665
|
1.293 |
0.624 |
|
|
Other Current Assets |
0.434
|
0.070 |
0.000 |
|
|
Loans & Advances |
0.449
|
0.620 |
0.118 |
|
Total
Current Assets |
30.262
|
26.903 |
23.225 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
18.222
|
19.498 |
20.457 |
|
|
Other Current Liabilities |
5.877
|
3.155 |
0.418 |
|
|
Provisions |
0.442
|
0.349 |
0.123 |
|
Total
Current Liabilities |
24.541
|
23.002 |
20.998 |
|
|
Net Current Assets |
5.721
|
3.901 |
2.227 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.00 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
6.412 |
4.705 |
2.766 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue From Operation |
177.611 |
159.969 |
136.903 |
|
|
|
Other Income |
7.350 |
6.020 |
5.005 |
|
|
|
TOTAL (A) |
184.961 |
165.989 |
141.908 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
182.229 |
161.668 |
141.382 |
|
|
|
Purchase of Stock-in-trade |
0.000 |
0.000 |
0.000 |
|
|
|
Change in Inventories of Finished Goods, Work-in-progress and
Stock-in-trade |
(2.746) |
(0.496) |
(2.529) |
|
|
|
Employee Benefit Expenses |
2.134 |
1.643 |
0.000 |
|
|
|
Other Expenses |
1.952 |
2.490 |
2.344 |
|
|
|
TOTAL (B) |
183.569 |
165.305 |
141.197 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1.392 |
0.684 |
0.711 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
1.002 |
0.221 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
0.390 |
0.463 |
0.711 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.112 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
0.278 |
0.463 |
0.711 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.200 |
0.304 |
0.246 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
0.078 |
0.159 |
0.465 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
6.51 |
13.48 |
39.43 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.04 |
0.09 |
0.50 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.16 |
0.29 |
0.52 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.90 |
1.67 |
2.99 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15 |
0.26 |
0.44 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
15.60 |
14.48 |
13.58 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.23 |
1.17 |
1.11 |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
|
Promoters
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 |
Yes |
|
Reasons
for variation <> 20% |
- |
|
Estimation
for coming financial year |
No |
|
Capital
the business |
Yes |
|
Details
of sister concerns |
No |
|
Major
Suppliers |
Yes |
|
Major
Customers |
Yes |
|
Payment
Terms |
No |
|
Export
/ Import Details [If Applicable] |
No |
|
Market
Information |
- |
|
Litigations
that the firm / promoter involved in |
- |
|
Banking
Details |
Yes |
|
Banking
Facility Details |
Yes |
|
Conduct
of the banking account |
- |
|
Buyer
visit details |
- |
|
Financials,
if provided |
Yes |
|
Incorporation
details, if applicable |
Yes |
|
Last
accounts filed at ROC |
Yes |
|
Major
Shareholders, if applicable |
Yes |
|
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
PAN
of Proprietor/Partner/Director, if available |
No |
|
Voter
ID No of Proprietor/Partner/Director, if available |
No |
|
External Agency Rating,
if available |
No |
SUNDRY CREDITORS
DETAILS:
(Rs. In Millions)
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
|
|
|
Sundry Creditors |
18.222
|
19.498 |
20.457 |
|
|
|
|
|
|
Total |
18.222
|
19.498 |
20.457 |
SUNDRY CREDITORS PARTIAL DETAILS
Rs. in Millions
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
|
|
|
Aar-err.
electronics Private Limited |
0.060 |
0.089 |
0.089 |
|
Abacus
Peripherals Private Limited |
0.064 |
0.107 |
0.077 |
|
Aegis
Inform it Ics |
0.011 |
0.017 |
0.000 |
|
Aegis
Info ware Private Limited. |
0.020 |
0.000 |
0.000 |
|
Best
IT World find 111 Private Limited |
0.678 |
0.000 |
0.048 |
|
Compuge
Infocom Limited |
4.046 |
0.023 |
0.000 |
|
Fortune
Marketing Private Limited |
0.077 |
0.004 |
0.000 |
|
Ingram
Micro India Private Limited |
1.913 |
2.858 |
3.930 |
|
Intex
Technologies ( |
0.292 |
0.321 |
0.023 |
|
Jupiter
international limited |
0.019 |
0.082 |
0.000 |
|
Mega
Compu world Private Limited |
0.465 |
0.028 |
0.125 |
|
Neoteric Infometique P Ltd |
0.178 |
0.215 |
0.000 |
|
P
M Computers |
0.029 |
0.129 |
0.000 |
|
Prit
Computers |
0.067 |
0.111 |
0.000 |
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U51109GJ2008PTC054663 |
|
Name of the
company |
VALSON'S
COMPUTERS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Flat No. 16, 3rd Floor, Jagdamba Apartment, Begampura,
Nawabwadi Surat-395003, |
|
This form is for |
Modification of
charge |
|
Charge
identification (ID) number of the charge to be modified |
10192584 |
|
Type of charge |
Book Debts Movable Property
(not being pledge) Others |
|
Particular of
charge holder |
The Karur Vysya Bank Limited, 103-114, Belgium Square, Silver Plaza Complex, Delhi Gate, Ring Road,
Surat-395003, Gujarat, India. |
|
Nature of
description of the instrument creating or modifying the charge |
Deed of
Hypothecations of current Assets |
|
Date of
instrument Creating the charge |
20.09.2011 |
|
Amount secured by
the charge |
Rs.5.000 Millions
|
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest OCC: 13.00% i.e.
BR (11.00%) plus 2.00% Floating Terms of
Repayment Repayable on
demand Margin CC: 25% on Stocks 50% on Book Debts
Extent and
Operation of the charge The charge will
be first and exclusive charge and operate as continuing security for the
entire amount of credit facility Rs. 5.000 Millionsoutstanding in Cash Credit
account including interest, additional interest, penal interest and other
charges. |
|
Short particulars
of the property charged |
Hypothecation of
fully paid stocks of computers and computers peripherals and any other items,
Both present and future lying at business premises / work place/ offices/
godown/ branches or places. The Deed of Hypothecation of Current Assets. Hypothecation of
entire Book Debts of the firm, Both present and future of the Deed of
Hypothecation of Current Assets |
|
Date of last modification prior to the present modification |
16.07.2010 |
|
Particulars of
the Present Modification |
The Bank has
enhanced OCC facility from Rs.2.400 Millions to Rs.5.000 Millions |
FIXED ASSETS:
· Furniture and Fixture
·
Telephone and
·
Vehicles
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
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.54.95 |
|
|
1 |
Rs.88.42 |
|
Euro |
1 |
Rs.71.71 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
BYI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
32 |
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.