Business
information report
1. Summary Information
|
|
|
Country |
India |
|
Company Name |
ENVIRON ENERGY
CORPORATION INDIA PRIVATE LIMITED |
Principal Name 1 |
Mr. Soumendra Kishore Chakraborty |
|
Status |
Moderate |
Principal Name 2 |
Ms. Jyoti Kumar Poddar |
|
|
|
Registration # |
21-140439 |
|
Street Address |
60 A, D. H. Road, Thakurpukur, Kolkata-700063, West Bengal, India |
||
|
Established Date |
20.05.1999 |
SIC Code |
-- |
|
Telephone# |
91-33-24533523 / 24 |
Business Style 1 |
Manufacture |
|
Fax # |
91-33-24380308 |
Business Style 2 |
Assembling |
|
Homepage |
Product Name 1 |
Solar System |
|
|
# of employees |
Not Available |
Product Name 2 |
Home Lighting System |
|
Paid up capital |
Rs.
87,970,000 /- |
Product Name 3 |
Pump |
|
Shareholders |
Venture Capital - 75.03% Bodies corporate – 13.57% Directors and Relatives of
Directors – 11.40% |
Banking |
Not Available |
|
Public Limited Corp. |
No |
Business Period |
13 years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
B (27) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Subsidiaries |
India
|
Confident Vintrade Private Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
2,894,963,000 |
Current Liabilities |
402,493,000 |
|
Inventories |
34,888,000 |
Long-term Liabilities |
2,666,793,000 |
|
Fixed Assets |
255,456,000 |
Other Liabilities |
8,812,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
3,078,098,000 |
|
Invest& other Assets |
154,097,000 |
Retained Earnings |
173,336,000 |
|
|
|
Net Worth |
261,306,000 |
|
Total Assets |
3,339,404,000 |
Total Liab. & Equity |
3,339,404,000 |
|
Total Assets (Previous Year) |
114,811,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
-- |
Net Profit / (Loss) |
(17,639,000) |
|
Sales(Previous yr) |
165,488,0000 |
Net Profit(Prev.yr)
/ (Loss) |
(21,809,000) |
MIRA
INFORM REPORT
|
Report Date : |
24.01.2012 |
IDENTIFICATION DETAILS
|
Name : |
ENVIRON ENERGY CORPORATION INDIA PRIVATE LIMITED (w.e.f.11.01.2008) |
|
|
|
|
Formerly Known
As : |
SHELL SOLAR INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
60 A, D. H. Road, Thakurpukur, Kolkata-700063, West Bengal |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
20.05.1999 |
|
|
|
|
Com. Reg. No.: |
21-140439 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 87.970 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U40106WB1999PTC140439 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
The company is engaged in the business of manufacture / assembling,
sale and distribution of solar photovoltaic energy systems and solar water heaters.
|
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
Maximum Credit Limit : |
USD 1000000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. 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 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.
ECGC Country Risk Classification List – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Partho |
|
Designation : |
Accountant |
|
Date : |
21.01.2012 |
LOCATIONS
|
Registered Office : |
60 A, D. H. Road, Thakurpukur, Kolkata-700063, West Bengal, India |
|
Tel. No.: |
91-33-24533523 / 24 |
|
Fax No.: |
91-33-24380308 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Telecom Division : |
2/3, Judges Court Road, 1st Floor, Alipore, Kolkata-700
027, West Bengal, India |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Ms. Jyoti Kumar Poddar |
|
Designation : |
Additional Director |
|
Address : |
16/S, Block-A, New Alipore, Kolkata-700053, West Bengal, India |
|
Date of Birth/Age : |
08.11.1961 |
|
Date of Appointment : |
26.10.2007 |
|
DIN No.: |
00690650 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U70101WB1986PTC041483 |
SITARAM
PROPERTIES PRIVATE LIMITED |
Director |
07-11-86 |
07-11-86 |
- |
Active |
NO |
|
2 |
U51102WB1983PLC035672 |
ENKAY
PROJECTS LIMITED |
Director |
18-04-91 |
18-04-91 |
14-01-10 |
Active |
NO |
|
3 |
U11102WB1991PTC051619 |
ENKAY
PETROCHEMICALS PRIVATE LIMITED |
Director |
02-05-91 |
02-05-91 |
14-01-10 |
Active |
NO |
|
4 |
U70101WB1991PTC051620 |
ENKAY
MERCANTILE PRIVATE LIMITED |
Director |
02-05-91 |
02-05-91 |
14-01-10 |
Active |
NO |
|
5 |
U74140WB1996PTC081163 |
CROZA
CONSULTANTS PRIVATE LIMITED |
Director |
21-11-96 |
21-11-96 |
- |
Active |
NO |
|
6 |
U74899WB2000PLC119478 |
ENVIRON
ENERGY TECH SERVICE LIMITED |
Director |
25-06-02 |
25-06-02 |
- |
Amalgamated |
NO |
|
7 |
U40106WB1999PTC140439 |
ENVIRON
ENERGY CORPORATION INDIA PRIVATE LIMITED |
Additional
director |
26-10-07 |
26-10-07 |
- |
Active |
NO |
|
8 |
U40106WB2008PTC124719 |
DIVAKAR
SOLAR SYSTEM PRIVATE LIMITED |
Director |
02-04-08 |
02-04-08 |
- |
Active |
NO |
|
9 |
U40105WB2008PLC125220 |
INDIA
POWER CORPORATION (HALDIA) LIMITED |
Director |
28-04-08 |
28-04-08 |
- |
Active |
NO |
|
10 |
U14290WB2008PTC125627 |
BHASKAR
SILICON PRIVATE LIMITED |
Director |
13-05-08 |
13-05-08 |
- |
Active |
NO |
|
11 |
U70109WB2008PTC127008 |
EAST
KOLKATA INFRASTRUCTURE DEVELOPMENT PRIVATE LIMITED |
Director |
30-06-08 |
30-06-08 |
- |
Active |
NO |
|
12 |
L40105WB1919PLC003263 |
DPSC
LIMITED |
Director |
26-06-10 |
29-01-10 |
- |
Active |
NO |
|
Name : |
Mr. Soumendra Kishore Chakraborty |
|
Designation : |
Director |
|
Address : |
6/2L, Naktala Road, Near Naktala Post-Office, Kolkata-700047, West
Bengal, India |
|
Date of Birth/Age : |
25.12.1970 |
|
Date of Appointment : |
26.10.2006 |
|
Election ID No.: |
WB/23/151/591398 |
|
DIN No.: |
02084407 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U40106WB1999PTC140439 |
ENVIRON
ENERGY CORPORATION INDIA PRIVATE LIMITED |
Director |
26-10-06 |
26-10-06 |
Active |
NO |
|
2 |
U14290WB2008PTC125627 |
BHASKAR
SILICON PRIVATE LIMITED |
Director |
13-05-08 |
13-05-08 |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Abner Pte Limited, Singapore |
1193786 |
|
Jyoti Kumar Poddar |
129200 |
|
Jyoti Kumar Poddar (HUF) |
873800 |
|
Opulent Venture Capital Trust, India
|
6600000 |
|
Corza Consultants (Private) Limited, India |
40 |
|
Sitaram Properties Private Limited, India |
40 |
|
Tarang Adhesive (Private) Limited, India |
40 |
|
Besco Distributors (Private) Limited, India |
40 |
|
Chandna Poddar |
40 |
|
Total |
8796986 |
AS ON 30.09.2011
|
Equity Shares
Break Up |
Percentage |
|
Venture Capital |
75.03 |
|
Bodies corporate |
13.57 |
|
Directors and Relatives of Directors |
11.40 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is engaged in the business of manufacture / assembling,
sale and distribution of solar photovoltaic energy systems and solar water
heaters. |
|
|
|
|
Brand Name : |
‘BHASKAR SOLAR’ |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Actual
Production |
|
Solar System |
60 |
|
Home Lighting System |
3989 |
|
Pump |
71 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Bankers : |
Not Available |
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|
|||||||||||||||||||||||||||||||||
|
Facilities : |
|
|||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institution : |
·
Seri Infrastructure Finance Limited, Vishwakarma,
86C, Topsia Road, Kolkata-700046, West Bengal, India |
|
|
|
|
Auditors : |
|
|
Name : |
Rao and Swami Chartered Accountant |
|
Address : |
2/1, Connaught Road, Bangalore-560052, Karnataka, India |
|
Pan No : |
AABFR4904P |
|
|
|
|
Subsidiaries : |
·
Confident Vintrade Private Limited CIN No.:-
U51909WB2010PTC155187 ·
Divakar Solar System Private Limited CIN No.:-
U40106WB2008PTC124719 |
|
|
|
|
Fellow Subsidiaries : |
·
Environ Energy Lanka Limited |
|
|
|
|
Enterprises over which key management personnel
(KMP) exercises significant : |
·
Bhaskar Silicon Private Limited CIN No.:-
U14290WB2008PTC125627 |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
Rs.10/- each |
Rs. 200.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8796986 |
Equity Shares |
Rs.10/- each |
Rs. 87.970
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 |
87.970 |
107.345 |
107.345 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
173.336 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
(139.597) |
(117.788) |
|
|
NETWORTH |
261.306 |
(32.252) |
(10.443) |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
2510.843 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
155.950 |
89.332 |
52.747 |
|
|
TOTAL BORROWING |
2666.793 |
89.332 |
52.747 |
|
|
DEFERRED TAX LIABILITIES |
5.794 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2933.893 |
57.080 |
42.304 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
255.456 |
2.143 |
2.805 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
154.097 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
34.888
|
17.397 |
24.462 |
|
|
Sundry Debtors |
151.231
|
73.554 |
32.330 |
|
|
Cash & Bank Balances |
27.829
|
2.402 |
1.675 |
|
|
Other Current Assets |
153.262
|
5.084 |
6.465 |
|
|
Loans & Advances |
2562.641
|
14.231 |
10.416 |
|
Total
Current Assets |
2929.851
|
112.668 |
75.348 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
66.997
|
45.834 |
24.455 |
|
|
Other Current Liabilities |
335.496
|
9.258 |
8.103 |
|
|
Provisions |
3.018
|
2.639 |
3.291 |
|
Total
Current Liabilities |
405.511
|
57.731 |
35.849 |
|
|
Net Current Assets |
2524.340
|
54.937 |
39.499 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2933.893 |
57.080 |
42.304 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
NA |
165.488 |
119.465 |
|
|
|
Other Income |
|
5.546 |
4.498 |
|
|
|
TOTAL (A) |
NA |
171.034 |
123.963 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Materials |
|
126.635 |
83.481 |
|
|
|
Manufacturing and Other Expenses |
|
65.398 |
53.008 |
|
|
|
TOTAL (B) |
NA |
192.033 |
136.489 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
(20.999) |
(12.526) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
NA |
0.054 |
0.430 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
(21.053) |
(12.956) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
NA |
0.756 |
1.131 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
(16.985) |
(21.809) |
(14.087) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.654 |
0.000 |
0.633 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
(17.639) |
(21.809) |
(14.720) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(139.597) |
(117.788) |
(103.067) |
|
|
|
|
|
|
|
|
|
Add |
REDUCTION IN
CAPITAL |
64.407 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Add |
TRANSFER FROM
TRANSEROR COMPANY |
66.565 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(26.264) |
(139.597) |
(117.787) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
0.000 |
5.048 |
3.665 |
|
|
TOTAL EARNINGS |
0.000 |
5.048 |
3.665 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials & Components |
0.179 |
0.585 |
1.542 |
|
|
TOTAL IMPORTS |
0.179 |
0.585 |
1.542 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(2.16) |
(2.03) |
(1.37) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
NA
|
(12.75) |
(11.87) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
(13.18) |
(11.79) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(0.53)
|
(18.99) |
(18.02) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.06)
|
0.68 |
1.35 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
11.78
|
(4.56) |
(1.62) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
7.23
|
1.95 |
2.10 |
LOCAL AGENCY FURTHER INFORMATION
NOTE:
Registered office of the company has been shifted from Betta Chambers
No.36, (20/1), IV Cross, 5th Main, Chamarajapet, Bangalore-560018,
Kolkata-560018, West Bengal, India to the present address w.e.f.29.10.2009.
BACKGROUND
Subject was incorporated on 20th Mary 1999 as Shell
Renewables India Private Limited, a wholly owned subsidiary of Shell Overseas
Investments BV, Netherlands. The company is wholly owned subsidiary of Abner
Pte. Limited, Singapore since 26th October, 2007. The Company is en
SCHEME OF
AMALGAMATION
The Company has
filed a petition for Amalgamation of Environ Energy Tech Services Limited with
the Company before Hon’ble High Court at Kolkata and Bangalore the approval
scheme has been sanctioned on 8th day of October, 2010. The Company has
received the certified copy of order, hence the effect of Amalgamation has been
considered in the Accounts for 31st, March, 2011. The company is
engaged in the business of manufacture / assembling, sale and distribution of
solar photovoltaic energy systems and solar water heaters. The company was
renamed as Environ Energy Corporation India Private Limited on 11th
January, 2008 as mentioned in the fresh Certificate of Incorporation.
SHARE CAPITAL
Pursuant to the
scheme of Merger,60% of pre amalgamation Share Capital of the Company stands
reduced as on date of order Dt.8/10/2010,accordingly the earlier paid up share
capital has been reduced from Rs.107.345 Millions to Rs.42.938 Millions and
further 38,53,200 new shares of Rs.10/- each fully paid-up has been issued
other than in cash to the members of transferor company i.e. Environ Energy
Tech Services Limited and the company has further allotted 6,50,000 Equity
Shares of Rs.10/- each Share applicant during this year.
FORM 8
|
Corporate identity
number of the company |
U40106WB1999PTC140439 |
|
Name of the
company |
ENVIRON ENERGY
CORPORATION INDIA PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
60 A, D. H. Road, Thakurpukur, Kolkata-700063, West Bengal, India |
|
This form is for |
Creation of
charge |
|
Type of charge |
Book debts Movable property
(not being pledge) Others |
|
Particular of
charge holder |
Seri Infrastructure Finance Limited, Vishwakarma, 86C, Topsia Road,
Kolkata-700046, West Bengal, India |
|
Nature of
instrument creating charge |
Deed of
Hypothecation |
|
Date of
instrument Creating the charge |
05.08.2011 |
|
Amount secured by
the charge |
Rs. 3000.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest 10% p.a. payable
annually Terms of repayment Interest payable
annually, Principal bullet repayment at the end of 36 months |
|
Short particulars
of the property charged (Including location of the property) |
First pari passu
charge on all moveable assets, (present and future) of the borrower |
FIXED ASSETS
·
Freehold Land
·
Leasehold Land
·
Land and Building
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. 50.24 |
|
|
1 |
Rs. 78.12 |
|
Euro |
1 |
Rs. 64.78 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--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 |
|
27 |
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.