MIRA INFORM REPORT
|
Report Date : |
17.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
SANJAY CHEMICALS ( |
|
|
|
|
Registered
Office : |
Unit G-1, 5th Floor, Kanmoor House Condominium, 281/287, Narsi
Natha Street, Mumbai – 400009, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
20.10.2000 |
|
|
|
|
Com. Reg. No.: |
11-129290 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 27.038 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51434MH2000PTC129290 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS27686B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAFCS2929E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader and Importer of Chemicals |
|
|
|
|
No. of Employees
: |
35 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (34) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1980000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The
profitability of the company appears to be low. However, trade relations are reported as fair. Business is active.
Payment terms are 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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including industrial
deregulation, privatization of state-owned enterprises, and reduced controls on
foreign trade and investment, began in the early 1990s and has served to
accelerate the country's growth, which has averaged more than 7% per year since
1997. India's diverse economy encompasses traditional village farming, modern
agriculture, handicrafts, a wide range of modern industries, and a multitude of
services. Slightly more than half of the work force is in agriculture, but
services are the major source of economic growth, accounting for more than half
of India's output, with only one-third of its labor force. India has
capitalized on its large educated English-speaking population to become a major
exporter of information technology services and software workers. In 2010, the
Indian economy rebounded robustly from the global financial crisis - in large
part because of strong domestic demand - and growth exceeded 8% year-on-year in
real terms. However, India's economic growth in 2011 slowed because of persistently
high inflation and interest rates and little progress on economic reforms. High
international crude prices have exacerbated the government's fuel subsidy
expenditures contributing to a higher fiscal deficit, and a worsening current
account deficit. Little economic reform took place in 2011 largely due to
corruption scandals that have slowed legislative work. India's medium-term
growth outlook is positive due to a young population and corresponding low
dependency ratio, healthy savings and investment rates, and increasing
integration into the global economy. India has many long-term challenges that
it has not yet fully addressed, including widespread poverty, inadequate
physical and social infrastructure, limited non-agricultural employment
opportunities, scarce access to quality basic and higher education, and
accommodating rural-to-urban migration.
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Short term Bank facilities : A4 |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
April 04, 2012 |
|
Rating Agency Name |
CARE |
|
Rating |
Long term Bank facilities : BB+ |
|
Rating Explanation |
Moderate risk of default |
|
Date |
April 04, 2012 |
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.
LOCATIONS
|
Registered/ Head Office : |
Unit G-1, 5th Floor, Kanmoor House Condominium, 281/ 287,
Narsi Natha Street, Mumbai – 400009, Maharashtra, India |
|
Tel. No.: |
91-22-40361100/ 66312988/ 66313088 |
|
Mobile No.: |
91-9821094067 (Mr. Dilip Parmar) |
|
Fax No.: |
91-22-23754337 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
DIRECTORS
AS ON 30.09.2011
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Vijayraj Parmar |
|
362525 |
|
Dilip Parmar |
|
385025 |
|
Sanjay Parmar |
|
342224 |
|
Manoj Parmar |
|
327724 |
|
Avance Technologies Limited (formerly VMC Software Limited), India |
|
150000 |
|
Hemendra Turakhia, Narendra Shah and Prakash Kothari |
|
30 |
|
Hemdan Ashiya,
Kishore Ashiya and Ranjitsingh Ashiya |
|
30 |
|
Jugraj Tailor and Leela Mangilal Parmar |
|
11 |
|
Parashmalji Jain, Kansingh Umardan Charan and Sohanlal
Dhanaram Prajapati |
|
30 |
|
Satish
Sanghrajka, Vagaram Keshaji Prajapati and Kishanlal Ramnarayan Joshi |
|
30 |
|
Futermal Parmar,
Sampatraj Parmar and Sunil Gosain |
|
30 |
|
Asha Parmar, Vicky
Narendra Joshi and Uma Maheshwar Rao |
|
10 |
|
Bhanumati
Prabhudas Sanghrajka |
|
1 |
|
Saroj Kiran Mehta and Kiran Mohanlalji Mehta |
|
10 |
|
Nikhil Mehta,
Varun Parmar and Yash Parmar (through father and NG Sanjay Parmar) |
|
10 |
|
Virendra Singh and Hinglasdan S. Charan |
|
10 |
|
Bharti Parmar |
|
30000 |
|
Varsha Parmar |
|
22000 |
|
Kanchan Parmar |
|
4000 |
|
Gunwati Parmar |
|
18000 |
|
Vijayraj Parmar HUF |
|
14000 |
|
Dilip Parmar HUF N.A |
|
26000 |
|
Sanjay Parmar HUF |
|
32000 |
|
Manoj Parmar HUF |
|
24000 |
|
Varun Parmar |
|
4000 |
|
Scorpio Exim Private Limited, India |
|
520000 |
|
Zany Share Trading Private Limited, India |
|
168000 |
|
Total |
|
2429700 |
|
Names of Shareholders (Preference Shares) |
|
No. of Shares |
|
Infotrek Syscom Limited, India |
|
3000 |
|
Uma Maheshwar Rao |
|
1500 |
|
C. Satyanarayana Karta of C. Satyanarayana HUF |
|
10000 |
|
Ranjitsingh Ashiya HUF |
|
1650 |
|
Ranjitsingh Ashiya |
|
157 |
|
Avas Capital Market Limited, India |
|
10000 |
|
Chottunsinh Rathod |
|
700 |
|
Dilip Sonigara |
|
400 |
|
Total |
|
27407 |
AS ON 30.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
34.49 |
|
Directors
or relatives of directors |
|
65.51 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader and Importer of Chemicals |
GENERAL INFORMATION
|
Customers : |
Wholesalers, Retailers, End users
|
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No. of Employees : |
35 (Approximately) |
|||||||||||||||||||||||||||||||||
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|
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|
Bankers : |
Development Credit Bank Limited, 601 and 602, Penisula Business Park,
6th Floor, Tower A, Senapati Bapat Marg, Lower Parel, Mumbai
-400013, Maharashtra, India |
|||||||||||||||||||||||||||||||||
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|
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Facilities : |
|
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|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
MGB and Company Chartered Accountants |
|
Address : |
101-A. Jolly
Bhavan No. 2, Opposite Nirmala Niketan, 7 New Marine Lines, Churchgate,
Mumbai – 400020, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFM5742R |
|
|
|
|
Related Parties : |
Ø Scorpio Exim Private Limited, Ø Zany Share Trading Private Limited |
CAPITAL STRUCTURE
AFTER 30.09.2011
Authorised Capital : Rs. 40.000 Millions
Issued, Subscribed & Paid-up Capital : Rs. 29.578
Millions
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,550,000 |
Equity Share |
Rs.10/- each |
Rs. 25.500 Millions |
|
45,000 |
Preferences Shares |
Rs.100/- each |
Rs. 4.500 Millions |
|
|
Total |
|
Rs. 30.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,429,700 |
Equity Share |
Rs.10/- each |
Rs. 24.297
Millions |
|
27,407 |
Preferences Shares |
Rs.100/-
each |
Rs. 2.741
Millions |
|
|
Total |
|
Rs. 27.038 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 |
27.038 |
17.458 |
17.458 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
468.812 |
210.580 |
194.289 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
495.850 |
228.038 |
211.747 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
79.477 |
0.927 |
46.571 |
|
|
2] Unsecured Loans |
51.056 |
239.387 |
64.213 |
|
|
TOTAL BORROWING |
130.533 |
240.314 |
110.784 |
|
|
DEFERRED TAX LIABILITIES |
0.441 |
0.446 |
0.048 |
|
|
|
|
|
|
|
|
TOTAL |
626.824 |
468.798 |
322.579 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
4.834 |
4.285 |
4.480 |
|
|
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 |
375.604
|
323.512
|
226.737
|
|
|
Sundry Debtors |
1629.846
|
1337.771
|
667.486
|
|
|
Cash & Bank Balances |
188.061
|
98.840
|
138.235
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
73.017
|
65.348
|
28.718
|
|
Total
Current Assets |
2266.528
|
1825.471 |
1061.176 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1602.808
|
1334.480
|
487.306
|
|
|
Other Current Liabilities |
11.426
|
6.902
|
240.680
|
|
|
Provisions |
30.304
|
19.576
|
15.091
|
|
Total
Current Liabilities |
1644.538
|
1360.958 |
743.077 |
|
|
Net Current Assets |
621.990
|
464.513 |
318.099 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
626.824 |
468.798 |
322.579 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
5323.321 |
4415.638 |
2713.357 |
|
|
|
Other Income |
NA |
14.101 |
9.165 |
|
|
|
TOTAL (A) |
NA |
4429.739 |
2722.522 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
4293.497 |
2602.614 |
|
|
|
Personal Cost |
|
6.847 |
4.872 |
|
|
|
Administrative and Other Expenses |
|
76.719 |
73.262 |
|
|
|
TOTAL (B) |
NA |
4377.063 |
2680.748 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
NA |
52.676 |
41.774 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
NA |
26.564 |
23.378 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
44.042 |
26.112 |
18.396 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.734 |
0.640 |
0.541 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
43.308 |
25.472 |
17.855 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
14.996 |
9.182 |
6.410 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
28.312 |
16.290 |
11.445 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
43.822 |
27.532 |
16.087 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
72.134 |
43.822 |
27.532 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
8.742 |
161.227 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
1019.608 |
625.880 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
15.14 |
11.07 |
7.81 |
|
%20PRIVATE%20LIMITED%20-%20203046%2017-Dec-2012_files/image001.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total
Income |
(%) |
NA
|
0.37
|
0.42
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.81
|
0.58
|
0.66
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.91
|
1.39
|
1.68
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09
|
0.11
|
0.08
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.58
|
7.02
|
4.03
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.38
|
1.34
|
1.43
|
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 |
No |
|
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 |
No |
|
10] |
Designation of contact
person |
No |
|
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 |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
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 |
No |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U51434MH2000PTC129290 |
|
Name of the
company |
SANJAY CHEMICALS ( |
|
Address of the registered
office or of the principal place of
business in |
507, |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10211615 |
|
Type of charge |
Book Debts Movable Property |
|
Particular of
charge holder |
Development Credit Bank Limited, 601 and 602, Email: vijaykurankar@dcbbank.com
|
|
Nature of
description of the instrument creating or modifying the charge |
Second
Supplemental Joint Deed of Hypothecation dt. 15.06.2012 Facilities
sanctioned by Rs. in Millions DCB Rs. 255.000 OBC Rs 408.800 ICICI Bank Rs. 470.000 UBI Rs 300.000 Citi Bank Rs 170.000 Total Rs.1603.800 |
|
Date of
instrument Creating the charge |
15.06.2012 |
|
Amount secured by
the charge |
Rs.1603.800
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of interest As per Details of Charge Holders Term
of Payment: As per Details of Charge Holders Margin As per Details of
Charge Holders Extent and
operation of the charge The Charge is operative and modified for
Rs.1603.800 Millions. By consent of all the Parties, viz., Development Credit
Bank Limited and ICICI Bank Limited and Oriental Bank of Commerce and Union
Bank of India and Citibank N.A. , Development Credit Bank Limited is
designated and recognized as the Lead Bank under Consortium called as
."Development Credit Bank Limited Consortium" Others: N.A |
|
Short particulars
of the property charged |
FIRST PARI-PASSU
CHARGE ON: The whole of the
Current Assets of the Borrower namely, Stocks of Raw Materials, Stocks in Process,
Semi-Finished and Finished Goods, Stores & Spares not relating to Plant
and Machinery (Consumable Stores and Spares), Bills Receivable and Book Debts
and all other movables, both present and future whether now lying loose or in
cases or which are now ying
loose or in cases or which are now lying or stored in or about or shall
hereinafter from time to time during the continuance of the security of these
presents be brought into or upon or be stored or be in or about of the
Borrowers factories, premises ands godowns situate at Mumbai and / or any
where in India or wherever else the same may be or be held by any party to
the order of disposition of the borrower or in the course of transit or on
high seas or on order, or delivery, howsoever and where so ever in the
possession of the Borrower and either by way of substitution or addition. |
|
Date of last
modification prior to the present modification |
10.02.2011 |
|
Particulars of
the present modification |
By this present
modification, the total charge gets enhanced to Rs.1603.800 Millions as detailed below:- Rs. in Millions DCB Rs. 255.000 OBC Rs 408.800 ICICI Bank Rs. 470.000 UBI Rs 300.000 Citi Bank Rs 170.000 Total Rs.1603.800 |
CONTINGENT LIABILITIES
NOT PROVIDED FOR:
(Rs. in Millions)
|
Particular |
31.03.2011 |
|
Unexpired
Letters’ of Credit |
287.862 |
|
Inland Bills LC |
28.933 |
|
Bank Guarantees |
2.020 |
|
Bond For Custom
Duty |
5.512 |
|
Disputed Direct
Tax |
2.147 |
|
Disputed Indirect
Tax* |
24.697 |
* Out of the above Rs. 2.100 Millions has been paid under
protest which is included in
FIXED ASSETS
Ø
Land and Building
Ø
Office premises
Ø
Office equipments
Ø
Air conditioners
Ø
Furniture and fixtures
Ø
Vehicles
Ø Computers
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 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 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. 54.39 |
|
|
1 |
Rs. 87.78 |
|
Euro |
1 |
Rs. 71.29 |
INFORMATION DETAILS
|
Report Prepared
by : |
BVA |
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 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
34 |
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.