|
Report Date : |
15.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
JAINEX LIMITED (w.e.f. 08.03.1978) |
|
|
|
|
Formerly Known
As : |
JAINEX AGENCIES PRIVATE LIMITED |
|
|
|
|
Registered Office
: |
405 and 406, Sharda Chambers, 15, Sir Vithaldas Thackersey Marg, New
Marine Lines, Mumbai-400020, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
18.07.1972 |
|
|
|
|
Com. Reg. No.: |
11-094147 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 60.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51900MH1972PLC094147 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMJ03913A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACJ0917G |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company. |
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|
|
|
Line of Business
: |
Supplier of Cold Rolled Steel Strips, Hardened and Tempered Steel
Strips and all types of Wires. |
|
|
|
|
No. of Employees
: |
Information not given by the management. |
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 680000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
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|
Litigation : |
Clear |
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|
|
Comments : |
Subject is an established company having satisfactory track. Trade
relations are 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.
INFORMATION DECLINED BY
|
Name : |
Mr. Modi |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-22-22002252 |
|
Date : |
14.06.2012 |
LOCATIONS
|
Registered Office : |
405 and 406, Sharda Chambers, 15, Sir Vithaldas Thackersey Marg, New
Marine Lines, Mumbai-400020, |
|
Tel. No.: |
91-22-22002252 |
|
Fax No.: |
91-22-22002254 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Engineering Division : |
1 and 2, Broach Sadan, Devji Ratansi Marg, Mumbai-400009, |
|
Tel. No.: |
91-22-23482713/ 23482741/ 23480608/ 23482402 |
|
Fax No.: |
91-22-23481442 |
|
E-Mail : |
|
|
|
|
|
Branches : |
Located at: ·
·
Chennai ·
·
·
·
|
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Bhagat Singh Dugar |
|
Designation : |
Director |
|
Address : |
11A, Meherina Apartments, Nepeansea Road, Mumbai-400026, Maharashtra,
India |
|
Date of Birth/Age : |
23.10.1945 |
|
Date of Appointment : |
23.03.1974 |
|
DIN No.: |
00013082 |
|
|
|
|
Name : |
Mr. Khoozema Mohammed Faizullabhoy |
|
Designation : |
Managing Director |
|
Address : |
44, Gulistan, Carmicheal Road, Mumbai-400026, Maharashtra, India |
|
Date of Birth/Age : |
19.11.1944 |
|
Date of Appointment : |
28.06.1978 |
|
DIN No.: |
00013602 |
|
|
|
|
Name : |
Mr. Rajendra Singh Dugar |
|
Designation : |
Joint Managing Director |
|
Address : |
Sandeep Apartments, Pretoria Street, Calcutta-700017, West Bengal,
India |
|
Date of Birth/Age : |
31.10.1947 |
|
Date of Appointment : |
05.01.2007 |
|
DIN No.: |
00063775 |
|
|
|
|
Name : |
Mr. Pravin Chimanlal Vora |
|
Designation : |
Whole Time Director |
|
Address : |
Kasturba Apartments, 77, Bhudaji Road, Matunga, Mumbai-400019,
Maharashtra, India |
|
Date of Birth/Age : |
10.07.1943 |
|
Date of Appointment : |
19.12.1996 |
|
DIN No. : |
00013118 |
|
|
|
|
Name : |
Mr. Rahul Dugar |
|
Designation : |
Whole time Director |
|
Address : |
11A, Mehrina Apartments, Nepeansea Road, Mumbai-400026, Maharashtra,
India |
|
Date of Birth/Age : |
10.11.1968 |
|
Date of Appointment : |
16.04.2004 |
|
DIN No.: |
00013704 |
|
|
|
|
Name : |
Mr. Mukarram Khoozema Faizullabhoy |
|
Designation : |
Whole Time Director |
|
Address : |
44, Gulistan, Carmicheal Road, Mumbai-400026, Maharashtra, India |
|
Date of Birth/Age : |
09.07.1976 |
|
Date of Appointment : |
16.04.2004 |
|
DIN No.: |
00013754 |
|
|
|
|
Name : |
Mr. Shabir Tyebbhoy |
|
Designation : |
Whole Time Director |
|
Address : |
Old 16, New 14, 3rd Cross Street, Kasturba Nagar, Adyar, Chennai-600020,
Tamilnadu, India |
|
Date of Birth/Age : |
25.07.1948 |
|
Date of Appointment : |
01.04.2010 |
|
DIN No.: |
03014427 |
KEY EXECUTIVES
|
Name : |
Mr. Modi |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Bhagat Singh Dugar |
23960 |
|
Sushil Kumar Dugar |
1600 |
|
Rajendra Singh Dugar |
1480 |
|
Santosh Kumar Dugar |
500 |
|
K. M. Faizullabhoy |
64198 |
|
Kiran Kunvar Dugar |
700 |
|
Madhu Dugar |
3667 |
|
Madhuri Dugar |
660 |
|
Meena Dugar |
900 |
|
Dolly Dugar |
900 |
|
A K Faizullabhoy Jointly with K M Faizullabhoy |
23602 |
|
Jainex Imports and Exports Private Limited, India |
44700 |
|
B.S. Dugar and Others |
40358 |
|
R |
167 |
|
Rahul Dugar |
95215 |
|
Jainex Foods Private Limited, |
44600 |
|
Durriya M Faizullabhoy |
2500 |
|
Mukarram K Faizullabhoy |
97720 |
|
Ananya Dugar |
8534 |
|
Dvij Dugar |
8234 |
|
Nandita Dugar |
23825 |
|
Mustafa K Faizullabhoy Jointly with K.M. Faizullabhoy |
3980 |
|
Mehlam K Faizullabhoy Jointly with K M Faizullabhoy |
18000 |
|
Trucut Tools India Private Limited, |
90000 |
|
TOTAL |
600000 |
AS ON 30.09.2011
|
Equity Shares
Break Up |
Percentage |
|
Bodies corporate |
30.00 |
|
Directors or relatives of Directors |
70.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Supplier of Cold Rolled Steel Strips, Hardened and Tempered Steel
Strips and all types of Wires. |
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Products : |
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Services : |
·
Trading and Export of Steel Strips, Stainless
Steel, Wire, Hacksaw / Bandsaw, Blades and Other Engineering Items etc. ·
Commission, Business and Marketing / Management
Services etc. ·
Revenue from Handling Contracts, Labour / Service
Charges etc. ·
Income from commercial premises |
GENERAL INFORMATION
|
No. of Employees : |
Information not given by the management |
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Bankers : |
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||||||||||||||||||||||||||||||||||||||||||
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Facilities : |
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|
|
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|
Banking Relations
: |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
R A Singh and Associates Chartered Accountant |
|
Address : |
25, Saibaba Shopping Centre, Keshavrao Kadam Marg, Behind Navjivan
Society, Mumbai Central, Mumbai-400008, Maharashtra, India |
|
Tel. No.: |
91-22-23006009/ 23006011 |
|
Pan No.: |
AAEPS417J |
|
|
|
|
Associates : |
·
Jainex Foods Private Limited ·
Tru-Cut Tools (India) Private Limited ·
Jainex Imports and Exports Private Limited ·
Jainex Aamcol Limited ·
Star Steel ·
Dugar Brothers and Company |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.100/- each |
Rs. 100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
600000 |
Equity Shares |
Rs.10/- each |
Rs. 60.000
Millions |
|
|
|
|
|
NOTE:
Out of which 900
equity shares are paid up for consideration other than cash
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 |
60.000 |
60.000 |
60.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
112.384 |
71.118 |
59.474 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
172.384 |
131.118 |
119.474 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
44.965 |
11.997 |
6.356 |
|
|
2] Unsecured Loans |
55.204 |
48.623 |
29.714 |
|
|
TOTAL BORROWING |
100.169 |
60.620 |
36.070 |
|
|
DEFERRED TAX LIABILITIES |
2.984 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
275.537 |
191.738 |
155.544 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
50.395 |
39.183 |
15.143 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.001 |
0.026 |
|
|
DEFERREX TAX ASSETS |
0.000 |
1.285 |
0.486 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
75.291
|
74.052
|
54.907 |
|
|
Sundry Debtors |
164.839
|
144.094
|
105.901 |
|
|
Cash & Bank Balances |
35.417
|
18.335
|
20.756 |
|
|
Other Current Assets |
4.618
|
3.722
|
0.000 |
|
|
Loans & Advances |
6.889
|
8.065
|
8.533 |
|
Total
Current Assets |
287.054
|
248.268 |
190.097 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
50.553
|
89.550
|
46.335 |
|
|
Other Current Liabilities |
5.920
|
3.254
|
4.182 |
|
|
Provisions |
5.560
|
4.423
|
0.026 |
|
Total
Current Liabilities |
62.033
|
97.227 |
50.543 |
|
|
Net Current Assets |
225.021
|
151.041
|
139.554 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.121 |
0.228 |
0.335 |
|
|
|
|
|
|
|
|
TOTAL |
275.537 |
191.738 |
155.544 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1197.448 |
751.026 |
835.205 |
|
|
|
Other Income |
23.499 |
7.276 |
1.177 |
|
|
|
Profit on Sale of Fixed assets |
0.000 |
0.000 |
0.004 |
|
|
|
TOTAL (A) |
1220.947 |
758.302 |
836.386 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption materials changes inventories |
1024.126 |
638.800 |
-- |
|
|
|
Manufacturing Service Cost |
52.775 |
36.082 |
744.806 |
|
|
|
Employee related expenses |
21.967 |
21.814 |
-- |
|
|
|
Administrative Expenses |
50.604 |
36.654 |
36.783 |
|
|
|
Selling and Distribution Expenses |
-- |
-- |
34.323 |
|
|
|
Loss on |
-- |
-- |
0.005 |
|
|
|
Preliminary Expenses written off |
-- |
-- |
0.107 |
|
|
|
TOTAL (B) |
1149.472 |
733.350 |
816.024 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
71.475 |
24.952 |
20.362 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
4.726 |
4.083 |
2.263 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
66.749 |
20.869 |
18.099 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
4.420 |
2.915 |
2.756 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
62.329 |
17.954 |
15.343 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
21.063 |
6.310 |
5.834 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
41.266 |
11.644 |
9.509 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
10.518 |
0.074 |
0.065 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
5.200 |
1.200 |
9.500 |
|
|
BALANCE CARRIED
TO THE B/S |
46.584 |
10.518 |
0.074 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
405.434 |
170.675 |
293.028 |
|
|
TOTAL EARNINGS |
405.434 |
170.675 |
293.028 |
|
|
|
|
|
|
|
|
|
|
IMPORTS VALUE |
142.936 |
84.253 |
156.632 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
68.78 |
19.41 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
3.38
|
1.54 |
1.14 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.21
|
2.39 |
1.84 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
18.47
|
6.22 |
7.48 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.36
|
0.14 |
0.13 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.96
|
1.20 |
0.72 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.63
|
2.55 |
3.76 |
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 |
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 |
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 |
DETAILS OF SUNDRY
CREDITORS
(Rs.
in Millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors |
|
|
|
|
Creditors due to others |
50.553 |
89.550 |
-- |
|
For Trading Goods |
-- |
-- |
36.193 |
|
For Expenses |
-- |
-- |
10.142 |
|
Total |
50.553 |
89.550 |
46.335 |
NOTE
The Registered office of the company has been shifted from Broach Sadan,
Devji Ratansi Marg, Mumbai-400009,
OPERATIONS
During the year, the
steel sector improved substantially in local as well as export market which has
resulted in increase in turnover as mentioned above. The handling contracts
awarded by Tata Steel continues at Hyderabad. The company’s entry into supply
of engineering products have also shown improvements year after year. With
current outlook, the company expects better performance and margins in current
year with continuing performance in steel sector.
There has been no
development in the position of appeal filed by the company on Kolkata Municipal
Corporation in Calcutta High Court for the additional demand of municipal tax
on the company’s commercial premises. The company had to pay the arrears of
additional demand made by the corporation till March 2009 during the year under
pressure to get the hearing of the appeal expedited/decided at the earliest.
FORM 8
|
Corporate
identity number of the company |
U51900MH1972PLC094147 |
|
Name of the
company |
JAINEX LIMITED |
|
Address of the registered
office or of the principal place of
business in |
405 and 406, Sharda Chambers, 15, Sir Vithaldas Thackersey Marg, New Marine Lines, Mumbai-400020, Maharashtra, India |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the charge to be modified |
10236394 |
|
Type of charge |
Immovable
property |
|
Particular of
charge holder |
Bank of Baroda, Mumbai Main Office, Mumbai Samachar Marg, Fort,
Mumbai-400001, Maharashtra, India |
|
Nature of instrument
creating charge |
First Charge on
Company's Office Premises Situated At 405 and 406, 4th Floor, Sharda Chambers
Premises Co-Operative Society Limited, 15 Sir Vithaldas Thackersey Road, New
Marine Lines, Mumbai – 400020 By Way of Deposit of Title Deeds of The Said
Office Premises. |
|
Date of
instrument Creating the charge |
07.02.2012 |
|
Amount secured by
the charge |
Rs. 82.500
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Interest as
determined by the bank from time to time. Terms of repayment On Demand Margin As Per Sanction
Terms Extent and operation of the charge To secure the
enhanced aggregate non fund based limits of Rs. 82.500 Millions sanctioned by
the bank to the company. |
|
Short particulars
of the property charged (Including location of the property) |
Office No 405 and
406 Situated On 4th Floor, Sharda Chambers Premises Co-Operative
Society Limited, 15 Sir Vithaldas Thackersey Road, New Marine Lines, Mumbai
400020. |
|
Date of
instrument modifying the charge |
03.08.2010 |
|
Particulars of
the present modification |
Enhancement of
letter of credit limit by Rs. 17.500 Millions and inland bank guarantee limit
by Rs. 8.500 Millions thereby enhancing the overall limits as under by way of
extension of charge on company's office premises. Inland Bank
Guarantee Rs. 10.000 Millions Inland/Import L/C
Facility Rs. 72.500 Millions TOTAL Rs. 82.500 Millions |
FIXED ASSETS
·
·
Plant, Machinery and Equipments
·
Furniture and Fixtures
·
Vehicles
·
Computer Systems
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. 55.79 |
|
|
1 |
Rs. 86.37 |
|
Euro |
1 |
Rs. 70.07 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
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.