|
Report Date : |
20.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
SH HARYANA WIRES LIMITED |
|
|
|
|
Registered
Office : |
B-9, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
12.08.1980 |
|
|
|
|
Com. Reg. No.: |
55-010756 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 22.050 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31300DL1980PLC010756 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company. |
|
|
|
|
Line of Business
: |
Manufacturer of Round Enamelled Copper Wires. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 710000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to be
usually correct and as per commitments. The company can be considered normal 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 – 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 |
LOCATIONS
|
Registered Office : |
B-9, |
|
Tel. No.: |
91-11-41003130 |
|
Fax No.: |
91-11-26921422 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
1500 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Factory 1 : |
49/4, |
|
Tel. No.: |
91-1275-262631 |
|
Fax No.: |
91-1275-262016 |
|
|
|
|
Factory 2 : |
51, 52A, EPIP, Pashamylaram (V), Patancheru (M), District
Medak-502307, |
|
Tel. No.: |
91-8455-223501/ 02/03 |
|
Fax No.: |
91-8455-223509 |
|
E-Mail : |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Rashmi Mangla |
|
Designation : |
Director |
|
Address : |
B-9, Kalindi Colony, Ring Road, New Delhi-110065, India |
|
Date of Birth/Age : |
12.07.1959 |
|
Date of Appointment : |
05.11.1992 |
|
DIN No.: |
00996653 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U31300DL1980PLC010756 |
SH
HARYANA WIRES LIMITED |
Director |
05/11/1992 |
05/11/1992 |
Active |
NO |
|
2 |
U34300DL2005PTC143219 |
AUTOCOMP
SOLUTIONS PRIVATE LIMITED |
Director |
02/12/2005 |
02/12/2005 |
Active |
NO |
|
3 |
U32109DL2008PTC173809 |
SHH-TECHNOLOGIES
PRIVATE LIMITED |
Director |
08/02/2008 |
08/02/2008 |
Active |
NO |
|
Name : |
Mr. Sunil Mangla |
|
Designation : |
Managing Director |
|
Address : |
B-9, Kalindi Colony, Ring Road, New Delhi-110065, India |
|
Date of Birth/Age : |
03.12.1954 |
|
Date of Appointment : |
02.12.2005 |
|
DIN No.: |
01062762 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U31300DL1980PLC010756 |
SH
HARYANA WIRES LIMITED |
Managing
director |
02/12/2005 |
02/12/2005 |
Active |
NO |
|
2 |
U32109DL2008PTC173809 |
SHH-TECHNOLOGIES
PRIVATE LIMITED |
Director |
08/02/2008 |
08/02/2008 |
Active |
NO |
|
Name : |
Mr. Ramesh Kumar Kamboj |
|
Designation : |
Director |
|
Address : |
H No.DV-287-2, Waed-22, Bans Mohalla, Palwal, Faridabad-121102,
Haryana, India |
|
Date of Birth/Age : |
20.07.1970 |
|
Date of Appointment : |
26.12.2006 |
|
DIN No.: |
01949354 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Sunil Mangla |
589229 |
|
Sunil Mangla (Karta) |
27766 |
|
Rashmi Mangla |
535985 |
|
Master Karan Mangla |
491950 |
|
K.K.Rajan |
10000 |
|
Shakuntla Devi |
10 |
|
Amita Agarwal |
10 |
|
Sameer Prakash |
10 |
|
Awadhesh Prakash |
10 |
|
Shanti Agarwal |
10 |
|
Satya Wati |
10 |
|
Manju Gupta |
10 |
|
Synermed Private Limited, India |
550000 |
|
TOTAL
|
2205000 |
|
Names of Allottee |
No. of Shares |
|
Shh-Technologies Private Limited, India |
80000 |
|
TOTAL |
80000 |
AS ON 30.09.2011
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Bodies corporate |
24.94 |
|
Directors or relatives of Directors |
75.06 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Round Enamelled Copper Wires. |
PRODUCTION STATUS (AS ON : 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Copper Wire |
Tones |
7920 |
3056 |
|
Job Work (Modvateable) |
Tones |
-- |
1212 |
|
Scrap |
Tones |
-- |
261 |
|
Aluminum |
Tones |
100 |
4 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
·
State Bank of India, Commercial Branch, A-5,
South Extension Part-I, New
Delhi-110048, India |
|||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Bhati Wadhwa and Company Chartered Accountant |
|
Address : |
B-509-510, Nehru Gorund, Faridabad-121002, |
|
Tel. No.: |
91-129-4026200 |
|
Fax No.: |
91-981140766/ 9899212872 |
|
PAN No.: |
AAHFB2659R |
|
|
|
|
Associates : |
Autocomp Solution Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2300000 |
Equity Shares |
Rs.10/- each |
Rs. 23.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2205000 |
Equity Shares |
Rs.10/- each |
Rs. 22.050
Millions |
|
|
|
|
|
AS ON 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2300000 |
Equity Shares |
Rs.10/- each |
Rs. 23.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2285000 |
Equity Shares |
Rs.10/- each |
Rs. 22.850
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 |
22.050 |
16.550 |
16.550 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
155.650 |
79.437 |
68.279 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
177.700 |
95.987 |
84.829 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
255.653 |
209.538 |
187.814 |
|
|
2] Unsecured Loans |
4.000 |
0.000 |
0.945 |
|
|
TOTAL BORROWING |
259.653 |
209.538 |
188.759 |
|
|
DEFERRED TAX LIABILITIES |
19.414 |
16.534 |
13.664 |
|
|
|
|
|
|
|
|
TOTAL |
456.767 |
322.059 |
287.252 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
228.964 |
226.982 |
149.414 |
|
|
Capital work-in-progress |
15.008 |
0.710 |
61.187 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.050 |
0.050 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
81.333
|
94.727 |
33.860 |
|
|
Sundry Debtors |
116.144
|
60.109 |
63.010 |
|
|
Cash & Bank Balances |
15.007
|
9.976 |
2.278 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
107.717
|
27.371 |
31.253 |
|
Total
Current Assets |
320.201
|
192.183 |
130.401 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
86.494
|
72.665 |
41.398 |
|
|
Other Current Liabilities |
10.434
|
16.110 |
9.822 |
|
|
Provisions |
10.494
|
9.091 |
2.580 |
|
Total
Current Liabilities |
107.422
|
97.866 |
53.800 |
|
|
Net Current Assets |
212.779
|
94.317 |
76.601 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.016 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
456.767 |
322.059 |
287.252 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1499.615 |
938.410 |
933.726 |
|
|
|
Other Income |
13.531 |
4.452 |
12.055 |
|
|
|
TOTAL |
1513.146 |
942.862 |
945.781 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing and other Expenses |
54.084 |
55.320 |
932.740 |
|
|
|
Contract Cost |
1359.719 |
838.197 |
0.000 |
|
|
|
Personnel Expenses |
21.594 |
14.746 |
10.931 |
|
|
|
Administrative, Selling and Other Expenses |
12.757 |
8.976 |
0.000 |
|
|
|
Excise Duty |
0.000 |
0.000 |
(3.067) |
|
|
|
Increase/ Decrease in Stock |
(7.283) |
(17.485) |
15.591 |
|
|
|
TOTAL |
1440.871 |
899.754 |
956.195 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
72.275 |
43.108 |
(10.414) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
29.454 |
17.269 |
16.977 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
42.821 |
25.839 |
(27.391) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
14.015 |
11.643 |
8.968 |
|
|
|
|
|
|
|
|
|
Add |
Excess Provision
Last Year |
0.222 |
0.000 |
0.000 |
|
|
|
Prior Period
Items |
0.049 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
28.979 |
14.196 |
(36.359) |
|
|
|
|
|
|
|
|
|
|
Prior Period
Items |
0.000 |
0.000 |
1.611 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
2.266 |
3.038 |
2.737 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
26.713 |
11.158 |
(40.707) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
16.277 |
5.119 |
45.826 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
2.671 |
0.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
40.319 |
16.277 |
5.119 |
|
|
|
|
|
|
|
|
|
|
EXPORT VALUE |
NA |
20.532 |
39.583 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
12.12 |
7.00 |
(24.60) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.77
|
1.18 |
(4.30) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.93
|
1.51 |
(3.89) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.28
|
3.39 |
(12.99) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16
|
0.15 |
(0.43) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.17
|
3.37 |
3.02 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.98
|
1.96 |
2.42 |
LOCAL AGENCY FURTHER INFORMATION
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
1. Year of Establishment |
Yes |
|
2. Locality of the firm |
Yes |
|
3. Constructions 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 |
No |
|
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 |
Yes |
|
21. Market information |
------- |
|
22. Litigations that the firm / promoter involved |
------ |
|
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 |
FORM 8
|
Corporate
identity number of the company |
U31300DL1980PLC010756 |
|
Name of the
company |
SH HARYANA WIRES
LIMITED |
|
Address of the
registered office or of the principal place of business in |
B-9, Kalindi Ring Road, New Delhi-110005, India |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the charge to be modified |
90045578 |
|
Type of charge |
·
Immovable
property ·
Book
debts ·
Movable
property (not being pledge) ·
Floating
charge ·
Others |
|
Particular of
charge holder |
State Bank of India, Commercial Branch, A-5, South Extension
Part-I, New Delhi-110048, India |
|
Nature of
instrument creating charge |
Supplemental
Agreement of Hypothecation of goods and assets for increase in the overall
limit (C 2A) Letter regarding
the grant of individual limits within the overall limit (C 5) Copy of recital |
|
Date of
instrument Creating the charge |
26.03.2012 |
|
Amount secured by
the charge |
Rs. 405.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest CC-BR+2.90% i.e;
@12.90% p.a, TL:-BR+4.75% i.e; @14.75% p.a, SLC:-
BR+3.90%i.e;@13.90%p.a.,CL-BR+4% i.e. 14%p.a. on
monthly rest or such other rate(s) specified by the bank from time to time . Terms of repayment Working capital
:- on demand Term Loan :- As
per existing repayment schedule . Corporate Loan:-
Repayable in 36 monthly installments including 19 months moratorium period. Margin Stocks -25% Receivables -30%
and 40% ( As per sanction ) LC and BG -10% Extent and operation of the charge 100% First
exclusive charge |
|
Short particulars
of the property charged (Including location of the property) |
Working Capital
:-First charge over the entire current assets including book
debts/receivables, stocks of raw-materials, stores, spares, stocks in
process, finished goods lying/kept/stored at co's premises, godowns, factory
or anywhere else including those in transit both present and future. Extension
of charge on all the fixed assets of the company both present and future. Term Loan :-First
charge over the fixed assets of the company both present and future(
Faridabad and Hyderabad unit). Extension of charge on all the current assets
of the company both present and future. Equitable
mortgage of co's factory land and buildings (1)
Situated
at 49/4 Mathura Road Village Prithla Tehsil Palwal comprised in Khewat No.152
Khatauni No.181 Rect.No.122 killa no.18 (8-0),23(7-9), kitas 2 area 15 kanals
4 marlas situated at revenue estate of Village Prithla Tehsil Palwal acquired
through sale deed registered on 23/04/2001 on Bahi no.1 Vasika no.320 with
joint sub-registrar Palwal together with all present and future
infrastructures /constructurns /plant and machineries thereon. (2)
Land
and building situated at plot no. 51 & 52 a, EPIP Pashamylaram Village,
Patancheru Mandal, Medak District Andhra pradesh measuring 21200 sq. mtrs. In
Survey No. 111, 111/P, 112, 112/P, 113, 113/P 146, 147, 153, 153/P. The above
property acquired vides regd. Deed sale no. 1299/2010 dated 11/02/2010 on
VOL. No. 337, CD no. 1299 of 2010 With Sub Registrar and Collector
Sangareeddy. Together With All Present and Future Infrastructure/
Construction/ Fixed P and M. The above is to secure term loan facilities on first charge basis and
working capital facilities on extension of charge basis on above immovable
properties. |
|
Particulars of
the present modification |
Total credit
facilities sanctioned to the company now revised/modified to Rs.405.000
Millions as under :- Cash credit (
Stocks ) Rs.110.000 Millions Cash credit (
Book-debts ) Rs.(110.000) Millions Term Loan
Rs.43.800 Millions ( Outstanding Amount ) Corporate Loan
Rs. 40.000 Millions LC/LOC/Buyers
Credit Rs.160.000 Millions BG Rs.10.000
Millions SLC Rs.40.000
Millions Forward contract
Rs.1.200 Millions Total Rs.405.000
Millions 100% both way
interchangeability from BG to LC limit. |
FIXED ASSETS
·
Factory Building
·
Plant and Machinery
·
Furniture and Fixtures
·
Office Equipments
·
Vehicles
·
Freehold Land
WEBSITE DETAILS
PROFILE
To meet the increasing demand for superior grade magnet wires by the
industry, Haryana Insulated Wires Limited was set up in 1981 by a group of highly
qualified technocrats. The Company's quality and systems were recognized when
they were awarded ISO certification in 1995. We are the first company in the
field of magnet wires in India, to have been awarded this recognition.
Presently the ISO 9001:2008
certification has been awarded by Underwriters Laboratories. All
their products are UL recognized, vide file number E 176812.
This globally recognized company, now known as subject, has a current
production capacity of over 11000 metric tones annually and is one of the
leading Indian manufacturers of round enameled copper wires. Having
manufacturing facilities at Faridabad (HY) and Hyderabad (AP)
During the period of globalization subject. maintained its independence. As an
independent and privately owned company with flat hierarchies they are ideally
suited to meet their customer wishes and to adapt to the varying needs of a
dynamic environment in a flexible and timely manner. They wish to maintain this
position in the future to benefit both the customer and the company.
In addition to a healthy financial structure, a state-of-the-art manufacturing
facility and the technical expertise of loyal and qualified staff, it is the
customer oriented management policy which is key to the success of the company.
It is a policy which is geared to recognizing and developing customer and
market requirements. This is to be achieved through a continuous process of
optimizing efforts in all areas of the company, and anticipating future
requirements where possible.
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. 55.38 |
|
|
1 |
Rs. 86.74 |
|
Euro |
1 |
Rs. 68.06 |
INFORMATION DETAILS
|
Information Gathered
by : |
-- |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
46 |
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.