MIRA
INFORM REPORT
|
Report Date : |
02.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
SHANTHI POULTRY FARM PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
6/15, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
10.04.2006 |
|
|
|
|
Com. Reg. No.: |
18-012707 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 50.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U01222TZ2006PTC012707 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CMBS08892C |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
|
|
|
|
Line of Business
: |
Manufacturer of Poultry Feeds. |
|
|
|
|
No. of Employees
: |
2500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 4000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having fine track. Financial
position of company appears to be sound. Trade relations are reported as
fair. Business is active. Payments are reported to be regular 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 : |
6/15, |
|
Tel. No.: |
91-422-2635000 |
|
Fax No.: |
91-422-2635053 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
25000 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Chicken Processing Unit : |
Athimarathuvalasu, Palani Taluka, Dindigul District-624417, Tamilnadu,
India |
DIRECTORS
AS ON 26.08.2011
|
Name : |
Mr. Ramasamy Lakhmanan |
|
Designation : |
Managing Director |
|
Address : |
6/14-A, |
|
Date of Birth/Age : |
28.12.1960 |
|
Date of Appointment : |
10.04.2006 |
|
DIN No.: |
01817913 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U01409TZ2000PTC009510 |
MATHAN
AGRO PRIVATE LIMITED |
Director |
29-09-00 |
29-12-07 |
Active |
NO |
|
2 |
U01122TZ2001PTC009825 |
SN AGRO
FARMS AND PRODUCTS INDIA PRIVATE LIMITED |
Managing
director |
13-07-01 |
- |
Active |
NO |
|
3 |
U01222TZ2006PTC012707 |
SHANTHI
POULTRY FARM PRIVATE LIMITED |
Managing
director |
10-04-06 |
- |
Active |
NO |
|
Name : |
Mr. Lakshmanan Shanthi |
|
Designation : |
Director |
|
Address : |
6/14-A, |
|
Date of Birth/Age : |
04.06.1972 |
|
Date of Appointment : |
01.04.2007 |
|
DIN No.: |
01817892 |
Other Directorship:
|
S.No.
|
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U01122TZ2001PTC009825 |
SN AGRO
FARMS AND PRODUCTS INDIA PRIVATE LIMITED |
Director |
13-07-01 |
13-07-01 |
Active |
NO |
|
2 |
U01222TZ2006PTC012707 |
SHANTHI
POULTRY FARM PRIVATE LIMITED |
Whole-time
director |
01-04-07 |
10-04-06 |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 26.08.2011
|
Names of Shareholders |
No. of Shares |
|
R Lakhsmanan |
250000 |
|
L Shanthi |
125000 |
|
L Saravanan |
125000 |
|
Total |
500000 |
AS ON 26.08.2011
|
Equity Shares
Break Up |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Poultry Feeds. |
GENERAL INFORMATION
|
No. of Employees : |
2500 (Approximately) |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Bankers : |
·
The South Indian Bank Limited, Pappampatty,
Coimbatore-641016, Tamilnadu, India ·
State Bank of India, Commercial Branch, 1443,
Trichy Road, Coimbatoer-641018, Tamilnadu, India |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
TDR and Associates Chartered Accountant |
|
Address : |
No.35, Kattoor Road, Papanaichenpalayam, Coimbatore – 641037,
Tamilnadu, India |
|
Pan No.: |
AIOPD8235G |
|
|
|
|
Enterprises significantly influenced by Directors
and / or their relatives : |
·
Shanthi Fortune (I) Private Limited ·
Shanthi Feeds ·
L. Shanthi Navee Poultry Farm ·
S. N. Agro Farms and Products India Private
Limited |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1500000 |
Equity Shares |
Rs.100/- each |
Rs. 150.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.100/-
each |
Rs. 50.000
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
|
|
1] Share Capital |
50.000 |
50.000 |
50.000 |
50.000 |
50.000 |
|
|
2] Share Application Money |
100.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
874.851 |
466.559 |
178.646 |
55.676 |
49.715 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1024.851 |
516.559 |
228.646 |
105.676 |
99.715 |
|
|
LOAN FUNDS |
|
|
|
|
|
|
|
1] Secured Loans |
532.581 |
547.559 |
526.610 |
346.747 |
291.408 |
|
|
2] Unsecured Loans |
0.000 |
100.080 |
98.281 |
106.773 |
112.300 |
|
|
TOTAL BORROWING |
532.581 |
647.639 |
624.891 |
453.520 |
403.708 |
|
|
DEFERRED TAX LIABILITIES |
45.681 |
21.280 |
8.155 |
7.300 |
6.819 |
|
|
HR LOAN |
0.000 |
0.000 |
5.890 |
3.717 |
7.641 |
|
|
|
|
|
|
|
|
|
|
TOTAL |
1603.113 |
1185.478 |
867.582 |
570.213 |
517.883 |
|
|
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
796.765 |
607.556 |
297.855 |
220.670 |
173.736 |
|
|
Capital work-in-progress |
35.857 |
10.201 |
112.170 |
2.225 |
0.693 |
|
|
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
|
|
Inventories |
718.264
|
673.190 |
499.952
|
239.832
|
319.683 |
|
|
Sundry Debtors |
380.056
|
282.086 |
311.482
|
351.164
|
354.297 |
|
|
Cash & Bank Balances |
23.162
|
20.019 |
20.625
|
33.691
|
11.631 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
288.056
|
198.990 |
104.810
|
71.029
|
52.889 |
|
Total
Current Assets |
1409.538
|
1174.285 |
936.869 |
695.716 |
738.500 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
|
|
Sundry Creditors |
398.472
|
417.795 |
431.210 |
323.576 |
316.148 |
|
|
Other Current Liabilities |
8.824
|
6.745 |
2.948
|
4.579
|
62.027
|
|
|
Provisions |
231.751
|
182.097 |
52.395
|
20.464
|
17.166
|
|
Total
Current Liabilities |
639.047
|
606.637 |
486.553 |
348.619 |
395.341 |
|
|
Net Current Assets |
770.491
|
567.648 |
450.316
|
347.097
|
343.159 |
|
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.073 |
7.241 |
0.221 |
0.295 |
|
|
|
|
|
|
|
|
|
|
TOTAL |
1603.113 |
1185.478 |
867.582 |
570.213 |
517.883 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
|
Income |
|
|
|
|
3090.492 |
|
|
|
Other Income |
|
|
|
|
|
|
|
|
TOTAL |
6928.443 |
6077.390 |
5376.697 |
3611.561 |
3090.492 |
|
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
Office Expenses |
6164.472 |
5502.275 |
5139.115 |
3539.791 |
2985.850 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
|
|
TOTAL |
6164.472 |
5502.275 |
5139.115 |
3539.791 |
2985.850 |
|
|
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
763.971 |
575.115 |
237.582 |
71.770 |
104.642 |
|
|
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
43.203 |
62.436 |
46.351 |
32.161 |
17.950 |
|
|
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
720.768 |
512.679 |
191.231 |
39.609 |
86.692 |
|
|
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
88.074 |
58.140 |
32.485 |
27.907 |
17.000 |
|
|
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
632.694 |
454.539 |
158.746 |
11.702 |
69.692 |
|
|
|
|
|
|
|
|
|
|
|
Less |
TAX |
224.402 |
164.263 |
33.896 |
5.741 |
24.111 |
|
|
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) |
408.292 |
290.276 |
124.850 |
5.961 |
45.581 |
|
|
|
|
|
|
|
|
|
|
|
Add / Less |
Prior Period Items |
0.000 |
(2.363) |
(1.881) |
0.000 |
4.134 |
|
|
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
466.558 |
178.645 |
55.676 |
49.715 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
466.558 |
178.645 |
55.676 |
49.715 |
|
|
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
|
|
Raw Materials |
270.827 |
278.627 |
205.517 |
69.038 |
NA |
|
|
|
Traveling Expenses |
1.317 |
0.501 |
0.481 |
0.000 |
NA |
|
|
|
Capital Goods |
0.000 |
0.000 |
0.295 |
0.000 |
NA |
|
|
TOTAL IMPORTS |
272.144 |
279.128 |
206.293 |
69.038 |
NA |
|
|
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
816.58 |
575.83 |
245.94 |
11.92 |
91.16 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
PAT / Total Income |
(%) |
5.89
|
4.78 |
2.32 |
0.17 |
1.47 |
|
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
28.68
|
25.51 |
12.86 |
1.28 |
7.64 |
|
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.62
|
0.88 |
0.69 |
0.11 |
0.70 |
|
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.19
|
2.47 |
4.90 |
7.66 |
8.08 |
|
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.21
|
1.94 |
1.93 |
2.00 |
1.87 |
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 |
Yes |
|
5. Type of Business |
Yes |
|
6. Line of Business |
Yes |
|
7. Promoter’s background |
Yes |
|
8. No. of Employees |
Yes |
|
9. Name of person contacted |
No |
|
10. Designation of contact person |
No |
|
11. Turnover of firm for last five years |
Yes |
|
12. Profitability for last five 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 |
BUSINESS, PERFORMANCE AND PROJECTS
During the period,
the Company has achieved a turnover of Rs.6928.443 Millions, earned a Net
Profit of Rs.408.292 Millions. The Directors believe that the company will earn
more profit in the forthcoming year. The Performance of the company during the
year has been satisfactory. The Company has commenced new Soya plant work by
acquiring land near Dharapuram and expecting production during June 2012. The
Company has started exporting of Processed chicken meat.
The Company has
proposed to set up modernized Pellet unit at Pappampatti with a capacity of 200
MT per day
The Company has
achieved the feet of obtaining ISI Certification for cattle feed in addition to
poultry feed.
FORM 8
|
Corporate
identity number of the company |
U01222TZ2006PTC012707 |
|
Name of the
company |
SHANTHI POULTRY
FARM PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
6/15, Main Road, Pappampatti, Ondipudur, Coimbatore – 641016, Tamilnadu, India |
|
This form is for |
Modification of
charge |
|
Type of charge |
Immovable
property Book debts Movable property
(not being pledge) Others |
|
Particular of
charge holder |
State Bank of India, Commercial Branch, 1443, Trichy Road, Coimbatoer-641018, Tamilnadu, India |
|
Nature of
instrument creating charge |
1. Link letter 2. Agreement of
Loan for overall limit 3. Agreement of
Hypothecation of Goods and Assets 4. Letter
regarding the grant of individual limits within the overall limit 5. Memorandum of
Deposit for creation of further charge |
|
Date of
instrument Creating the charge |
08.02.2012 |
|
Amount secured by
the charge |
Rs. 505.800
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Working capital: 2.15%
above Base Rate i.e.12.15% p.a. Term Loans :
2.65% above Base Rate i.e. 12.65% p.a. Terms of repayment Repayable on
demand. Term Loan is repayable in 29 monthly installments from November 2011 Margin 25% Extent and operation of the charge PRIMARY SECURITY
: CC - First charge on the entire
current assets on paripassu basis with other banks in MBA. LC(WC) - First charge on the entire Current
Assets on paripassu basis with other banks in MBA and goods covered under LC.
Term Loan - First charge over the Fixed Assets financed by the bank.
COLLATERAL: Exclusive first charge on Immovable properties of the company
at Pappampatty village and at
Kattampatti village and Second paripassu charge over the entire fixed assets
of the company Other Total limits of
Rs.505.800 Millions consist of Cash
credit limit of Rs.380.000 Millions
(with EPC sublimit of Rs.150.000 Millions and FBDN sublimit of Rs.30.000
Millions ), New Term Loan of Rs.15.800
Millions , LC limit of Rs.100.000
Millions and PFCE of Rs.10.000
Millions |
|
Short particulars
of the property charged (Including location of the property) |
Stock of raw
materials, stocks in process, finished goods, Book debts both present and
future and Plant and machinery both present and future Immovable
properties at Pappampatty village, Palladam Tk., under SF No.51/1 and 51/3
(4.29 1/2 acres) Immovable
properties at Kattampatti village, Negamam SRD, Pollachi Taluk under SF
No.277/1B,2B,2A, 277/1A, 1B1, 1B2,2, 201,202,203,209/1A,207/2,3,
208/2,194/1,2, 197/4B,199/1,2,3 and 200 (57.70 acres) Entire Fixed
Assets of the company |
|
Charge
identification number of the charge to be modified |
10026929 |
|
Date of
instrument modifying the charge |
04.08.2011 |
|
Particulars of
the present modification |
Consequent to
execution of Link Letter and other security documents, Limits secured by
Charge on all the Current Assets and all the Fixed Assets modified from
Rs.401.200 Millions to Rs.505.800 Millions. |
FIXED ASSETS
·
Land
·
Building
·
Data Processing Equipment
·
Plant and Machinery
·
Vehicles Car
·
Furniture and Fixture
·
Capital Working Process
WEBSITE DETAILS
PROFILE
Mr.
R. Lakshmanan, with inspiration and encouragement from his beloved father, Mr. K.
Ramasamy, an employee of the animal husbandry department, Tamilnadu, started a
small poultry farm as a means of self employment way back in 1988. There are no
parallels what this dynamic hardworking man, dedicated to the poultry industry,
could achieve in the following years by his visionary leadership and commitment
to quality.
Pappampatti,
the native village of Mr. R. Lakshmanan, is a dry and arid area where there is
limited cultivation and the people were really struggling to make both ends
meet. Therefore, giving gainful employment to the local villagers was a primary
concern of the managing director when he thought of expanding the activities.
Subject
was the first to introduce integrated operations, both at the level of
organizing farmers and, also, bringing in all process parameters, including the
production of poultry feed, under its control. There are 4 hatchery units, 5
parent bird farms, and over 1000 commercial farms for broiler birds under the
aegis of Subject. Today, with a market share of over 25% and a production
capacity of over 450000 parent chicks and birds, Shanthi Poultry Farm is poised
for even greater achievements in the years to come.
The
Rashtriya Gaurav Award, bestowed on our Managing Director in 1997 by the All
India Achievers Conference, is a testimonial to his unwavering commitment to
quality. With scientific farming practices and innovative production
capabilities, we strive to realize his vision to be among the best in the
industry.
The Milestones
1993 - Made debut with
a Hatchery and a Feed Mill
1997 - Set up second Hatchery unit
2000 - Expanded Feed Mill
2001 - Started third Hatchery
2004 - Commissioned modern, automatic Feed
Plant with pelletizer, crumbler, and imported compactor; advanced to
computerized batching
2006 - Added second Feed Plant and
production line to meet the increased demand.
2007 - Initiated Cattle Feed production and
commenced marketing operations
2009- Established state-of-the-art Chicken
Processing Unit with imported machinery and modern technology; introduced
Pellet Technology in Cattle Feed
2010 - Launched chicken products in retail
and opened exclusive shops
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. 52.51 |
|
|
1 |
Rs. 85.49 |
|
Euro |
1 |
Rs. 69.61 |
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 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
54 |
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.