|
Report Date : |
19.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
SHINGORA TEXTILES LIMITED |
|
|
|
|
Registered
Office : |
26, Feroz Gandhi Marg, Lajpat Nagar-3, New Delhi-110024 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
05.06.2008 |
|
|
|
|
Com. Reg. No.: |
55-179117 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 46.599 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17200DL2008PLC179117 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELS36253A |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
The Company is engaged in the business of manufacture and sale of wide
range of Shawls and caters to the needs of several leading international
fashion brands and retailers. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1200000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was established as a partnership concern in the year 1993, with
the name ‘Shingora International’ and later in the year 2008 it got converted
into limited. It is an 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 : |
26, Feroz Gandhi Marg, Lajpat Nagar-3, New Delhi-110024, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
|
|
|
Factory : |
HC-28, Phase 6, Focal Point, Ludhiana-141010, Punjab, India |
|
Tel. No.: |
91-161-5026815 |
|
Fax No.: |
91-161-2676497 |
DIRECTORS
AS ON 30.07.2011
|
Name : |
Mr. Ashok Kumar Jain |
|
Designation : |
Chairman cum Managing Director |
|
Address : |
134/3, Maharani Jhansi Road, Civil Lines, Ludhiana-141001, Punjab,
India |
|
Date of Birth/Age : |
25.03.1945 |
|
Date of Appointment : |
05.06.2008 |
|
DIN No.: |
00020798 |
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 |
U17111DL2006PTC148870 |
SHINGORA
FASHION FABRICS PRIVATE LIMITED. |
Director |
12-07-11 |
17-05-06 |
Active |
NO |
|
2 |
U17200DL2008PLC179117 |
SHINGORA
TEXTILES LIMITED |
Managing
director |
01-07-11 |
05-06-08 |
Active |
NO |
|
Name : |
Ms. Mridula Jain |
|
Designation : |
Managing Director |
|
Address : |
134/3, Maharani Jhansi Road, Civil Lines, Ludhiana-141001, Punjab, India |
|
Date of Birth/Age : |
04.03.1948 |
|
Date of Appointment : |
05.06.2008 |
|
DIN No.: |
00020840 |
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 |
U17120PB2004PLC026714 |
LUDHIANA
DYERS AND PROCESSORS LIMITED |
Managing
director |
14-01-04 |
14-01-04 |
Active |
NO |
|
2 |
U17111DL2006PTC148870 |
SHINGORA
FASHION FABRICS PRIVATE LIMITED. |
Director |
12-07-11 |
17-05-06 |
Active |
NO |
|
3 |
U17200DL2008PLC179117 |
SHINGORA
TEXTILES LIMITED |
Managing
director |
01-07-11 |
05-06-08 |
Active |
NO |
|
Name : |
Mr. Amit Jain |
|
Designation : |
Whole Time Director |
|
Address : |
134/3, Maharani Jhansi Road, Civil Lines, Ludhiana-141001, Punjab,
India |
|
Date of Birth/Age : |
28.10.1972 |
|
Date of Appointment : |
05.06.2008 |
|
DIN No.: |
00020860 |
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 |
U17111DL2006PTC148870 |
SHINGORA
FASHION FABRICS PRIVATE LIMITED. |
Director |
12-07-11 |
17-05-06 |
Active |
NO |
|
2 |
U17200DL2008PLC179117 |
SHINGORA
TEXTILES LIMITED |
Whole-time
director |
01-07-11 |
05-06-08 |
Active |
NO |
|
3 |
U91900PB2011NPL034564 |
YOUNG
PRESIDENT'S ORGANISATION (PUNJAB CHAPTER) |
Director |
06-06-11 |
23-03-11 |
Active |
NO |
|
Name : |
Ms. Anuj Jain |
|
Designation : |
Whole Time Director |
|
Address : |
134/3, Maharani Jhansi Road, Civil Lines, Ludhiana-141001, Punjab,
India |
|
Date of Birth/Age : |
31.03.1975 |
|
Date of Appointment : |
05.06.2008 |
|
DIN No.: |
00043024 |
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 |
U17111DL2006PTC148870 |
SHINGORA
FASHION FABRICS PRIVATE LIMITED. |
Director |
12-07-11 |
17-05-06 |
Active |
NO |
|
2 |
U17200DL2008PLC179117 |
SHINGORA
TEXTILES LIMITED |
Whole-time
director |
01-07-11 |
05-06-08 |
Active |
NO |
|
Name : |
Mr. Jasjit Singh Sodhi |
|
Designation : |
Director |
|
Address : |
722, Urban Estate, Phase-II, Jalandhar-144001, Punjab, India |
|
Date of Birth/Age : |
02.10.1966 |
|
Date of Appointment : |
06.06.2008 |
|
DIN No.: |
02368586 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.07.2011
|
Names of Shareholders |
No. of Shares |
|
Ashok Jain |
115000 |
|
Mridula Jain |
135000 |
|
Amit Jain |
115000 |
|
Anju Jain |
115000 |
|
Isabelle Jain |
330 |
|
Dipti Jain |
330 |
|
Jaininder Jain |
330 |
|
Shingora Fashion Fabbrics Private Limited, India |
5000 |
|
TOTAL |
485990 |
AS ON 30.06.2011
|
Names of Shareholders |
No. of Shares |
|
Mridula Jain |
20000 |
|
TOTAL |
20000 |
AS ON 30.07.2011
|
Equity Shares
Break Up |
Percentage |
|
Bodies corporate |
1.03 |
|
Directors or relatives of Directors |
98.97 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is engaged in the business of manufacture and sale of wide
range of Shawls and caters to the needs of several leading international
fashion brands and retailers. |
|
|
|
|
Products : |
·
Shawls and Allied Items |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Bankers : |
State Bank of India, SCB, Miller Ganj, Ludhiana-141001, Punjab, India |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Facilities : |
|
|||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
Prakash K Prakash Chartered Accountant |
|
Address : |
B-1, Sagar Apartments, 6, Tilak Marg, New Delhi-110001, India |
|
Tel. No.: |
91-11-23382207 / 23388753 |
|
Fax No.: |
91-11-43590843 |
|
E-Mail : |
|
|
Pan No.: |
AAEFP5293J |
|
|
|
|
Enterprises over which key management personnel are able to exercise
significant influence: |
Shingora Fashion Fabric Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
750000 |
Equity Shares |
Rs.100/- each |
Rs. 75.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
465990 |
Equity Shares |
Rs.100/-
each |
Rs. 46.599
Millions |
|
|
|
|
|
AS ON 30.07.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
750000 |
Equity Shares |
Rs.100/- each |
Rs. 75.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
485990 |
Equity Shares |
Rs.100/-
each |
Rs. 48.599
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 |
46.599 |
46.599 |
46.099 |
|
|
2] Share Application Money |
22.700 |
10.000 |
10.000 |
|
|
3] Reserves & Surplus |
252.468 |
199.161 |
140.959 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
321.767 |
255.760 |
197.058 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
245.736 |
92.889 |
131.034 |
|
|
2] Unsecured Loans |
15.040 |
14.637 |
25.601 |
|
|
TOTAL BORROWING |
260.776 |
107.526 |
156.635 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
582.543 |
363.286 |
353.693 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
484.968 |
256.631 |
252.106 |
|
|
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 |
96.703
|
121.826 |
82.469 |
|
|
Sundry Debtors |
56.403
|
39.275 |
61.208 |
|
|
Cash & Bank Balances |
11.218
|
10.871 |
15.301 |
|
|
Other Current Assets |
2.000
|
4.542 |
0.000 |
|
|
Loans & Advances |
42.053
|
43.068 |
62.765 |
|
Total
Current Assets |
208.377
|
219.582 |
221.743 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
64.132
|
68.911 |
69.832 |
|
|
Other Current Liabilities |
30.832
|
19.617 |
15.306 |
|
|
Provisions |
16.025
|
24.680 |
35.393 |
|
Total
Current Liabilities |
110.989
|
113.208 |
120.531 |
|
|
Net Current Assets |
97.388
|
106.374 |
101.212 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.187 |
0.281 |
0.375 |
|
|
|
|
|
|
|
|
TOTAL |
582.543 |
363.286 |
353.693 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
588.976 |
503.745 |
532.590 |
|
|
|
Other Income |
42.138 |
28.504 |
47.425 |
|
|
|
TOTAL (A) |
631.114 |
532.249 |
580.015 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
272.444 |
242.154 |
291.357 |
|
|
|
Manufacturing Expenses |
132.013 |
88.011 |
79.829 |
|
|
|
Administrative Expenses |
27.795 |
29.361 |
25.214 |
|
|
|
Personnel Expenses |
31.259 |
25.335 |
16.262 |
|
|
|
Selling and Distribution Expenses |
46.854 |
35.442 |
44.130 |
|
|
|
Preliminary Expenses W/Off |
0.094 |
0.094 |
0.000 |
|
|
|
TOTAL (B) |
510.459 |
420.397 |
456.792 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
120.655 |
111.852 |
123.223 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
13.677 |
13.184 |
12.541 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
106.978 |
98.668 |
110.682 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
23.956 |
26.996 |
25.256 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
83.022 |
71.672 |
85.426 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
29.715 |
25.220 |
36.665 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
53.307 |
46.452 |
48.761 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
95.213 |
48.761 |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
148.520 |
95.213 |
48.761 |
|
|
|
|
|
|
|
|
|
|
REVENUE IN
FOREIGN CURRENCY |
527.433 |
454.707 |
480.735 |
|
|
|
|
|
|
|
|
|
|
IMPORTS VALUE |
122.674 |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
114.40 |
99.68 |
105.77 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
8.45
|
8.73 |
8.41 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
14.10
|
14.23 |
16.04 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.97
|
15.05 |
18.03 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.26
|
0.28 |
0.43 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.16
|
0.86 |
1.41 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.88
|
1.94 |
1.84 |
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 |
BACKGROUND
Subject was
incorporated on June 5, 2008 by converting the erstwhile partnership
firm Shingora International under part IX of the companies Act, 1956.
The Company is
engaged in the business of manufacture and sale of wide range of Shawls and
caters to the needs of several leading international fashion brands and
retailers. The principle source of revenue for the company is from export of
Shawis and related products.
BUSINESS
PERFORMANCE
During the year the company earned a revenue of Rs. 631.124 Millions as
compared to Rs. 531.768 Millions during previous year. There is also growth in the
PAT. The PAT for the period is Rs. 53.307 Millions as compared to Rs. 46.452
Millions in the previous year.
DORAHA PROJECT
The Company has set-up a world class Textile processing unit at Doraha
located at outskirt of Ludhiana. Total project was estimated around Rs. 270.000
Millions but due to increase in construction cost the revised project cost is
estimated to around Rs. 300.000 Millions. The project is being funded by State
Bank of India, Ludhiana. Maximum of the plant and machinery are being imported
from Western Countries to achieve International quality of end products. The
main processes to be undertaken in the new unit Yarn Dyeing, Fabric Dyeing,
Normal and Continuous Washing and Printing.
The required approvals have been taken including the approval from
Punjab Pollution control Board. Now the production has been started in the
unit. This unit will help in improving the quality of the product by doing
maximum production in house, which will result in to increase in price of the
products.
FORM 8
|
Corporate
identity number of the company |
U17200DL2008PLC179117 |
|
Name of the
company |
SHINGORA TEXTILES
LIMITED |
|
Address of the
registered office or of the principal place of business in |
26, Feroz Gandhi Marg, Lajpat Nagar-3, New Delhi-110024, India |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the charge to be modified |
10143005 |
|
Type of charge |
·
Immovable
property ·
Book
debts ·
Movable
property (not being pledge) ·
Floating
charge |
|
Particular of
charge holder |
State Bank of India, SCB, Miller Ganj, Ludhiana-141001, Punjab, India |
|
Nature of
instrument creating charge |
1. Agreement to
Mortgage 2. Supplement Agreement
of Loan for increase in the overall limit Form C.1-A. 3. Letter
regarding grant of individuals limits within the overall limit. 4. Supplement
agreement of hypothecation of goods and assets for increase in the overall
limit. 5. Letter of
undertaking. 6. Supplemental
deed of guarantee for increase in overall limit. |
|
Date of
instrument Creating the charge |
07.09.2011 |
|
Amount secured by
the charge |
Rs. 336.800
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest 4.75% Above Base
Rate Present Effective Rate 14.75% Terms of repayment As Per Agreement Margin CC
(Hypothecation) 25% E.P.C/EBUC 15% Export
Receivables NIL BG
25% Extent and operation of the charge 100% |
|
Short particulars
of the property charged (Including location of the property) |
All C.A and F.A present
and future of the company. Factory land and
bldg. HC- 27,28,29, Ph. VI, Focal Point Ludhiana Land and Building
33 Bigha, 7 Biswa 16 Biswasi at G.T. Road Doraha near Toltexx District
Ludhiana. Equitable
mortgage of freehold land situated at Village Doraha, G. T Road, Teh. Payal
Ludhiana measuribg 6.89 acres(33 bigha 7 Biswas 16 Biswani. Equitable
mortgage of freehold land situated at Village Doraha, g. T. Road, Teh. Payal
Ludhiana, measuring 6.75 acres standing in the name of Shingora Textiles Limited. |
|
Date of
instrument modifying the charge |
01.06.2010 |
|
Particulars of
the present modification |
The overall Limit
of Rs. 322.400 Millions created on 01/06/2010 has been increased to Rs
336.800 Millions. The others term and conditions as per agreement. |
FIXED ASSETS
·
Land
·
Factory Building
·
Office Building
·
Computer
·
Office Equipments
·
Plant and Machinery
·
Furniture and Fixtures
·
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 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. 55.59 |
|
|
1 |
Rs. 87.34 |
|
Euro |
1 |
Rs. 70.66 |
INFORMATION DETAILS
|
Information
Gathered by : |
-- |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
47 |
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.