MIRA
INFORM REPORT
|
Report Date : |
28.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
LOKMAT MEDIA PRIVATE LIMITED (w.e.f. 21.09.2010) |
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|
|
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Formerly Known
As : |
LOKMAT NEWSPAPERS PRIVATE LIMITED |
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Registered
Office : |
Mittal Tower, `B’ Wing, 12th Floor, Nariman
Point, Mumbai – 400 021, |
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Country : |
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Financials (as
on) : |
31.05.2011 |
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Date of
Incorporation : |
21.06.1973 |
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Com. Reg. No.: |
11-016613 |
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Capital
Investment / Paid-up Capital : |
Rs.414.872 Millions |
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CIN No.: [Company Identification
No.] |
U99999MH1973PLC016613 |
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|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in Printing and Publishing of
Newspapers. |
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|
|
No. of Employees
: |
Information Denied by Management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (65) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 10000000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an old and well established company engaged in printing and
publishing of newspaper. Company having good financial track record. But
there appears some dip in the profitability of the company as compare to
previous year. However, trade relations are reported to be fair. Business is
active. Payment are reported to be regular and as per commitment. 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 DENIED
Management Non Co-operative (91-22-22856749)
LOCATIONS
|
Registered Office : |
Mittal Tower, `B’ Wing, 12th Floor, Nariman
Point, Mumbai – 400 021, |
|
Tel. No.: |
91-22-22856749 |
|
Fax No.: |
Not Available |
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E-Mail : |
|
|
Website : |
DIRECTORS
As on 28.11.2011
|
Name : |
Mr. Vijay Jawaharlal Darda |
|
Designation : |
Whole Time Director |
|
Address : |
‘Yavatmal House’, Rahate Colony, Pt. J.N. Marg, |
|
Date of Birth/Age : |
14.05.1950 |
|
Date of Appointment : |
24.01.1974 |
|
DIN No.: |
00009902 |
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|
|
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Name : |
Mr. Devendra Vijay Darda |
|
Designation : |
Managing Director |
|
Address : |
B-601, Shubhda Co Op HSG Soc B, SIT Pochkhanwala Road,
Worli, Mumbai – 400018, Maharashtra, India |
|
Date of Birth/Age : |
23.11.1974 |
|
Date of Appointment : |
20.05.2002 |
|
DIN No.: |
00319192 |
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|
|
|
Name : |
Mr Vijay Gopal Jindal |
|
Designation : |
Director |
|
Address : |
W-22, Greater Kailash, Part – I, New Delhi – 110048, India |
|
Date of Birth/Age : |
08.03.1957 |
|
Date of Appointment : |
06.12.2010 |
|
DIN No.: |
00008527 |
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|
|
|
Name : |
Mr. Rajesh Madan Mohan Khanna |
|
Designation : |
Director |
|
Address : |
Flat No. 4210, 42nd Floor, Imperial Tower No. 1, MP Mill Compaund
Tardeo, Mumbai – 400034, Maharashtra, India |
|
Date of Birth/Age : |
24.12.1965 |
|
Date of Appointment : |
06.12.2010 |
|
DIN No.: |
00032562 |
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|
|
|
Name : |
Mr. Jayendra Natwarlal Shah |
|
Designation : |
Director |
|
Address : |
52, Apurva Building, 5th Floor, Nepeanse Road, Mumbai –
400036, Maharashtra, India |
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Date of Birth/Age : |
07.03.1959 |
|
Date of Appointment : |
06.12.2010 |
|
DIN No.: |
00084759 |
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|
|
|
Name : |
Mr. Rishi Rajendra Darda |
|
Designation : |
Managing Director |
|
Address : |
Lokmat Bhavan, Jalana Road, Aurangabad 431003, Maharashtra, India |
|
Date of Birth/Age : |
15.12.1978 |
|
Date of Appointment : |
21.11.2001 |
|
DIN No.: |
00293183 |
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|
|
|
Name : |
Mr. Karan Rajendra Darda |
|
Designation : |
Executive Director |
|
Address : |
Lokmat Bhavan, Jalana Road, Aurangabad
431003, Maharashtra, India |
|
Date of Birth/Age : |
25.05.1983 |
|
Date of Appointment : |
01.04.2009 |
|
DIN No.: |
01211502 |
|
|
|
|
Name : |
Mr. Pushpat Shival Shah |
|
Designation : |
Director |
|
Address : |
94 A, Kalpataru Habitat Dr. SS
Rao Road, Parel, Mumbai – 400012, Maharashtra, India |
|
Date of Birth/Age : |
27.09.1965 |
|
Date of Appointment : |
06.12.2010 |
|
DIN No.: |
01687641 |
KEY EXECUTIVES
|
Name : |
Mr. Amit Bhatia |
|
Designation : |
Company Secretary |
|
Address : |
3/A, Neelkanth Apartment, |
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Date of Birth/Age : |
25.05.1979 |
|
Date of Appointment : |
25.10.2010 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.11.2011
|
Names of Shareholders |
|
No. of Shares |
|
Vijay J. Darda |
|
10398996 |
|
Jyotsna V. Darda |
|
6204600 |
|
Devendra Darda |
|
4140000 |
|
Rajendra J. Darda |
|
12319596 |
|
Ashoodevi Darda |
|
2808000 |
|
Rishi Darda |
|
2808000 |
|
Karan Darda |
|
2808000 |
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|
|
|
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Total |
|
41487192 |
Equity Share Break up (Percentage of Total Equity)
As on 28.11.2011
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in Printing and Publishing of
Newspapers. |
PRODUCTION STATUS:
(AS ON 31.05.2010)
|
Particulars |
Installed Capacity |
Actual Production |
|
Newspaper |
831000 |
623733122 |
GENERAL INFORMATION
|
No. of Employees : |
Information Denied by Management |
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Bankers : |
Bank of |
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Facilities : |
(Rs. in Millions)
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
M. M. Jain and Associates Chartered Accountants |
|
Address : |
AS/502, Ujwal Flats,
Rahate Colony, Wardha Road, Nagpur – 440022, Maharashtra, India |
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PAN.: |
AABFM6199F |
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Joint Ventures : |
IBN-Lokmat News Private Limited |
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|
Subsidiaries: |
·
Asera Power Private Limited, India (CIN:
U40109MH2009PTC196213) ·
Lokmat Entertainment Private Limited, India (CIN: U92190MH2009PTC196077) |
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|
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|
Related Enterprises where significant influence exist: |
·
Darda Investment and Properties Private Limited ·
Media World Enterprises ·
Devendra Printers ·
Prithvi Vandan ·
Darda Printocrafts Private Limited. ·
Mogra Scangraph Private Limited. ·
Regal Publication Private Limited. ·
Airwave Entertainment Private Limited. ·
Prithvi Prakashan Private Limited. |
CAPITAL STRUCTURE
As on 31.05.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
75000000 |
Equity Shares |
Rs.10/- each |
Rs.750.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
41487192 |
Equity Shares |
Rs.10/- each |
Rs.414.872
Millions |
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|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.05.2011 |
31.05.2010 |
31.05.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
414.872 |
11.524 |
6.848 |
|
|
2] Share Application Money |
0.000 |
0.000 |
4.676 |
|
|
3] Reserves & Surplus |
2153.056 |
2088.952 |
1855.486 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
2567.928 |
2100.476 |
1867.010 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
742.642 |
308.092 |
407.027 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
9.500 |
|
|
TOTAL BORROWING |
742.642 |
308.092 |
416.527 |
|
|
DEFERRED TAX LIABILITIES |
85.879 |
72.029 |
30.749 |
|
|
|
|
|
|
|
|
TOTAL |
3396.449 |
2480.597 |
2314.286 |
|
|
|
|
|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
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FIXED ASSETS [Net Block] |
1471.663 |
1087.680 |
1158.176 |
|
|
Capital work-in-progress |
68.137 |
16.785 |
24.691 |
|
|
|
|
|
|
|
|
INVESTMENT |
562.341 |
245.175 |
89.075 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
484.095
|
253.727 |
223.905
|
|
|
Sundry Debtors |
778.927
|
712.718 |
526.065
|
|
|
Cash & Bank Balances |
440.813
|
381.160 |
332.486
|
|
|
Other Current Assets |
5.599
|
2.981 |
22.604
|
|
|
Loans & Advances |
1009.744
|
1044.567 |
701.015
|
|
Total
Current Assets |
2719.178
|
2395.153 |
1806.075 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
358.737
|
228.321 |
107.750
|
|
|
Other Current Liabilities |
179.304
|
189.229 |
290.841
|
|
|
Provisions |
886.829
|
846.646 |
365.140
|
|
Total
Current Liabilities |
1424.870
|
1264.196 |
763.731 |
|
|
Net Current Assets |
1294.308
|
1130.957 |
1042.344 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
3396.449 |
2480.597 |
2314.286 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.05.2011 |
31.05.2010 |
31.05.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
4407.652 |
3809.610 |
2300.962 |
|
|
|
Other Income |
42.989 |
50.960 |
21.729 |
|
|
|
TOTAL (A) |
4450.641 |
3860.570 |
2322.691 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption material changes inventories |
2075.859 |
1543.251 |
|
|
|
|
Manufacturing other operating expenses |
270.467 |
216.796 |
|
|
|
|
Employee related expenses |
638.509 |
560.131 |
|
|
|
|
Administrative selling other expenses |
526.126 |
472.815 |
|
|
|
|
TOTAL (B) |
3510.961 |
2792.993 |
1621.638 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
939.680 |
1067.577 |
701.053 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
40.287 |
26.349 |
49.027 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
899.393 |
1041.228 |
652.026 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
185.341 |
159.599 |
95.631 |
|
|
|
|
|
|
|
|
|
Less |
NET PROFIT
BEFORE TAX PRIOR PERIOD AND EXTRAORDINARY ITEMS |
0.000 |
881.629 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
EXTRAORDINARY
ITEMS BEFORE TAX |
0.000 |
7.609 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
PRIOR PERIOD
ITEMS BEFORE TAX |
0.000 |
0.793 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
714.052 |
873.227 |
556.395 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
222.048 |
284.280 |
148.786 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
492.004 |
588.947 |
407.609 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
589.094 |
350.734 |
3.118 |
|
|
|
|
|
|
|
|
|
Add |
Transfer
to Revaluation Reserve |
0.005 |
0.006 |
0.007 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
49.000 |
59.000 |
60.000 |
|
|
|
Dividend |
0.000 |
249.730 |
0.000 |
|
|
|
Tax on Dividend |
0.000 |
41.863 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
1032.103 |
589.094 |
350.734 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
357.709 |
88.279 |
|
|
|
Components and Spare Parts |
NA |
0.000 |
11.674 |
|
|
|
Capital Goods |
NA |
6.331 |
0.000 |
|
|
TOTAL IMPORTS |
NA |
364.040 |
99.953 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
11.86 |
14.20 |
534.39 |
|
KEY RATIOS
|
PARTICULARS |
|
31.05.2011 |
31.05.2010 |
31.05.2009 |
|
PAT / Total Income |
(%) |
11.05
|
15.26 |
17.55 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
16.20
|
15.46 |
24.18 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
26.26
|
36.46 |
30.81 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.28
|
0.42 |
0.30 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.84
|
0.75 |
0.63 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.91
|
1.89 |
2.36 |
LOCAL AGENCY FURTHER INFORMATION
Sundry Creditors Details:
Rs. In Millions
|
Particulars |
31.05.2011 |
31.05.2010 |
31.05.2009 |
|
Sundry Creditors |
|
|
|
|
Micro, Small and Medium Enterprise and
others |
358.737
|
228.321 |
107.750 |
|
Others |
0.000
|
0.000 |
0.000 |
|
Total |
358.737
|
228.321 |
107.750 |
|
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 |
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 (if applicable) |
No |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter |
-- |
|
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 |
FINANCIAL PERFORMANCE:
The Company's
total income for the year is higher than the previous year but Net profit is lower
due to high interest rates, increased depreciation due to additional capex and
tough market conditions. The Directors are optimistic about the enhancement of
the capacity utilization resulting in an increase in the turnover as well as
generating more profit from operations in the years ahead
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity number of the company |
U99999MH1973PTC016613 |
|
Name of the company |
LOKMAT MEDIA
PRIVATE LIMITED |
|
Address of the registered office or of the
principal place of business in |
Mittal
Tower, `B’ Wing, 12th Floor, Nariman Point, Mumbai – 400 021,
Maharashtra, India Email:
dxd510@gmail.com |
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the
charge to be modified |
10221777 |
|
Type of charge |
Movable property
(not being pledge) |
|
Particular of charge holder |
Bank of India, Nagpur
Corporate Banking Branch, S. V. Patel Marg, Kingsway, Nagpur- 440001,
Maharashtra, India. Email: mca21@in.com |
|
Nature of instrument creating charge |
Supplemental
deed of hypothecation. |
|
Date of instrument Creating the charge |
14.10.2010 |
|
Amount secured by the charge |
Rs.334.800
Millions |
|
Brief of the principal terms an conditions
and extent and operation of the charge |
Rate of Interest Term Loan I and II: AT 4% Below BPLR, Present Effective Rate 8.50%
P.A. With Monthly Rests. Terms of Repayment Term Loan I and II: Repayable in 10 Half Yearly installments of Rs.
33.400 Millions, commencing from December 2010 (Last Installment Is OF Rs.
34.200 Millions). Margin Term Loan : 25% Extent and Operation of the charge The charge operates as security on the plant and machinery of the
company. |
|
Short particulars of the property or
asset(s) charged (including complete address and location of the property) |
Hypothecation of
plant and machinery proposed to be purchased out of this term loan. The
details are as per annexure-i. |
|
Date of instrument modifying the charge |
23.04.2010 |
|
Particulars of the present modification |
By present modification
the bank has sanctioned the new term loan of Rs. 90.000 Millions. Thus total
term loan facilities stand at Rs. 334.800 Millions. The bifurcation of credit
facilities are as under: Term Loan I: RS.
244.800 Millions. Term Loan II:
RS. 90.000 Millions Total: RS. 334.800 Millions. |
FIXED ASSETS
· Land
· Building
· Plant and Machinery
· Furniture and Fixtures
· Vehicles
· Data Processing Equipments.
AS PER WEBSITE DETAILS
COMPANY PROFILE
Subject is a leading multi platform media company with interests in a diversified portfolio of publishing, broadcast, digital, entertainment, community and sports verticals. It has an employee strength of more than 3,000 and has a pan-India network of offices.
Lokmat Group publishes newspapers in three languages – ‘Lokmat’ (Marathi),
‘Lokmat Samachar’ (Hindi) and ‘Lokmat Times’ (English). ‘Lokmat’ is the largest
read regional language newspaper in India with over 24.19 million readers
(Source: Total Readership, IRS ’11 Q4) and the No. 1 Marathi newspaper in
Maharashtra & Goa states with 11 editions and a circulation of 1.66 million
copies (Source: Audit Bureau of Circulation, Jan-June ’11). ‘Lokmat Samachar’,
with 5 editions is one of the largest read Hindi daily in the state of
Maharashtra with over 1.44 million readers (Source: Total Readership, IRS ’11
Q4). ‘Lokmat Times’ has 2 editions.
Lokmat Group makes its content available for the global readers through its news
portal It also has a partnership with Yahoo! to provide content to a co-branded
Marathi section on Yahoo! India’s news portal.
Lokmat entered the TV space in 2008 and it co-owns a 24-hour news and current
affairs channel ‘IBN Lokmat’, through a JV with the Network18 Group.
Lokmat’s magazine division Cymbal Media publishes an international magazine
called ‘G2 – The Global Gujarati’. This is positioned as a high-end lifestyle
magazine.
Lokmat Group made its foray in the entertainment sector through its subsidiary
Lokmat Entertainment for production and distribution of films and television
content. It released its first Marathi film “Jetaa” in August 2010, a
co-production with Ramesh Deo Productions Private Limited.
Lokmat’s experiential marketing division – Lokmat Connect organizes various
annual properties like ‘Lokmat Maharashtrian of the Year’, ‘Lokmat Women
Summit’ etc. which are the benchmark in the their respective categories. It
also provides comprehensive 360 degree marketing solutions to clients including
‘Below The Line’ promotions and client led activations. It is the largest event
management company in Maharashtra in terms of number of events held. This
division also runs various community forums focussed on Women, Youth and
Children.
Lokmat runs sports leagues across various cities in Maharashtra, mainly
focusing on cricket and football. These championships are organized under
‘Lokmat Play’
As a responsible corporate citizen, the Group is engaged in various social
initiatives aimed to help the poor and needy. It also is actively involved in
helping victims of natural disasters and tragedies. Lokmat also works to
highlight problems faced by people in its communities, bring it to the
attention of the concerned authorities for necessary action.
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 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.57.21 |
|
|
1 |
Rs.89.42 |
|
Euro |
1 |
Rs.71.46 |
INFORMATION DETAILS
|
Information
Gathered by : |
SBA |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
YES |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
65 |
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.