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Report Date : |
04.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
RED BULL INDIA PRIVATE LIMITED |
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Registered
Office : |
1st Floor, B Wing, 215 Atrium, Chakala, |
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Country : |
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Financials (as
on) : |
31.12.2010 |
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Date of
Incorporation : |
03.04.2007 |
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Com. Reg. No.: |
11-169580 |
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Capital
Investment / Paid-up Capital : |
Rs.27.300
millions |
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CIN No.: [Company Identification
No.] |
U51909mh2007ftc169580 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Mumr21838f |
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PAN No.: [Permanent Account No.] |
Aadcr5842h |
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Legal Form : |
Private Limited Liability Company
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Line of Business
: |
Distributors of energy
Drinks |
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No. of Employees
: |
50 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 651000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. There
appears huge accumulated losses being recorded by the company. Profitability is
under pressure. However, trade relations are reported as fair. Business is
active. Payments are reported to be slow. The company can be considered for business dealings with some
cautions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INFORMATION PARTED BY (General Details)
|
Name : |
Mr. Harish |
|
Designation : |
Accounts Manager |
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Contact No.: |
91-22-66180888 |
|
Date : |
03.05.2012 |
LOCATIONS
|
Registered Office/ Corporate Office
: |
1st Floor, B Wing, 215 Atrium, Chakala, |
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Tel. No.: |
91-22-66180888 |
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Fax No.: |
91-22-66180808 |
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E-Mail : |
morris@littlecompany.com ankit.paleja@littlecompany.com ananth.venkatesan@ap.redbull.com ananth@ap.redbull.com ananth.rb@redbull.com chunder.khator@in.redbul.com ananth.venkatesan@in.redbull.com |
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Website : |
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Area : |
2000 sq.ft |
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Location : |
Owned |
DIRECTORS
As on 30.06.2011
|
Name : |
Mr. Rudolf Josef Theirel |
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Designation : |
Director |
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Address : |
Gansbichlstrasse, |
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Date of Birth/Age : |
16.11.1949 |
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Date of Appointment : |
03.04.2007 |
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DIN No.: |
02022967 |
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|
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Name : |
Mr. Bhaskar Vishwa Deva Sharma |
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Designation : |
Director |
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Address : |
Flat No: 51, 5th Floor,
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Date of Birth/Age : |
31.08.1963 |
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Qualification : |
Master in Management |
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Date of Appointment : |
04.01.2010 |
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DIN No.: |
02871367 |
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Name : |
Mr. Harish Kanotra |
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Designation : |
Additional director |
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Address : |
B-404, |
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Date of Birth/Age : |
13.04.1974 |
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Date of Appointment : |
08.10.2010 |
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DIN No.: |
05154960 |
KEY EXECUTIVES
|
Name : |
Mr. Harish |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.06.2011
|
Names of Shareholders |
|
No. of Shares |
|
Red Bull |
|
2729999 |
|
Red Bull Hanger – 7 GmbH |
|
1 |
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Total |
|
2730000 |
Equity Share Break up (Percentage of Total Equity
As on 30.06.2011
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Distributor of Energy Drinks. |
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Products : |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
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Customers : |
End Users |
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No. of Employees : |
50 (Approximately) |
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Bankers : |
Hongkong and
Shanghai Banking Corporation Limited, Andheri (East), Mumbai, |
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Facilities : |
The above loan is backed by corporate guarantee given by Red Bull
GmbH, the holding company. |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
S.R. Batliboi and Associates Chartered Accountants |
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Address : |
Jalan Mill Compound, 95 Ganpatrao Kadam MArg, Lower PArel, Mumbai
400013, |
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Tel. No.: |
91-22-61920000 |
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Fax No.: |
91-22-61921000 |
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PAN.: |
AABFS3421N |
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Holding Company : |
Red Bull Address: AM Brunnen 1, 5330, Fuschl Am See, |
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Fellow Subsidiaries : |
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CAPITAL STRUCTURE
As on 31.12.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4500000 |
Equity Shares |
Rs.10/- each |
Rs.45.000 millions |
|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2730000 |
Equity Shares |
Rs.10/- each |
Rs.27.300
Millions |
|
|
|
|
|
(Of the above, 2730000 (2009: 2150000) shares are held by Red Bull GmbH,
Austria, the holding company and 1 share (2009: 1) is held by Red Bull Hangar
7)
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2010 |
31.12.2009 |
31.12.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
27.300 |
21.500 |
6.500 |
|
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2] Share Application Money |
0.000 |
140.000 |
0.000 |
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3] Reserves & Surplus |
709.200 |
135.000 |
0.000 |
|
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4] (Accumulated Losses) |
(573.837) |
(260.387) |
(108.497) |
|
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NETWORTH |
162.663 |
36.114 |
(101.997) |
|
|
LOAN FUNDS |
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|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
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2] Unsecured Loans |
20.000 |
155.000 |
110.000 |
|
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TOTAL BORROWING |
20.000 |
155.000 |
110.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
|
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TOTAL |
182.663 |
191.114 |
8.003 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
98.823 |
109.255 |
41.781 |
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Capital work-in-progress |
106.985 |
104.686 |
9.398 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
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Inventories |
110.463
|
89.849 |
38.441 |
|
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Sundry Debtors |
44.567
|
41.448 |
103.186 |
|
|
Cash & Bank Balances |
19.986
|
1.971 |
1.065 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
210.035
|
111.622 |
21.519 |
|
Total
Current Assets |
385.051
|
244.890 |
164.211 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
323.129
|
205.722 |
115.659 |
|
|
Other Current Liabilities |
72.587
|
55.694 |
85.605 |
|
|
Provisions |
12.480
|
6.301 |
6.123 |
|
Total
Current Liabilities |
408.196
|
267.717 |
207.387 |
|
|
Net Current Assets |
(23.145)
|
(22.827) |
(43.176) |
|
|
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|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
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TOTAL |
182.663 |
191.114 |
8.003 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2010 |
31.12.2009 |
31.12.2008 |
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SALES |
745.221 |
483.684 |
458.337 |
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PROFIT(LOSS)
BEFORE TAX |
NA |
(144.919) |
(71.867) |
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Less |
TAX |
NA |
6.971 |
1.661 |
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PROFIT(LOSS)
AFTER TAX |
(313.450) |
(151.890) |
(73.528) |
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IMPORTS |
|
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Traded Goods |
239.519 |
216.060 |
145.801 |
|
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Capital Goods |
44.777 |
135.133 |
31.151 |
|
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|
Advertisement and Other Material |
1.988 |
3.989 |
7.213 |
|
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TOTAL IMPORTS |
286.284 |
355.182 |
184.165 |
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Earnings(loss)
Per Share (Rs.) |
(131.25) |
(168.64) |
(113.12) |
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KEY RATIOS
|
PARTICULARS |
|
31.12.2010 |
31.12.2009 |
31.12.2008 |
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
(29.96)
|
(15.67) |
|
|
|
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Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
(40.77)
|
(33.37) |
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|
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Return on Investment (ROI) (PBT/Networth) |
|
NA
|
(4.01)
|
0.70 |
|
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|
Debt Equity Ratio (Total Liability/Networth) |
|
2.63
|
11.73
|
(3.11) |
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|
Current Ratio (Current Asset/Current Liability) |
|
0.94
|
0.91
|
0.79 |
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) Constitutions of the firm |
Yes |
|
4) Premises details |
Yes |
|
5) Type of Business |
Yes |
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6) Line of Business• |
Yes |
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7) Promoter’s background |
Yes |
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8) No. of employees |
Yes |
|
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 |
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17) Major suppliers |
No |
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18) Major customers |
No |
|
19) Payments terms |
Yes |
|
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 |
SUNDRY CREDITORS
DETAILS
(Rs. In Millions)
|
Particulars |
31.12.2010 |
31.12.2009 |
31.12.2008 |
|
|
|
|
|
|
Sundry Creditors |
323.129 |
205.721
|
115.659 |
FINANCIAL RESULTS
During the Financial Year January 1, 2010 to December 31, 2010 the Company has affected sales of Rs.745.221 millions against sales of Rs.483.684 millions during the previous financial year. The Company has incurred a loss after tax of Rs.313.450 millions during the financial year.
The management of the Company has continued to strive its best to increase turnover and improved profitability of the Company.
CONTINGENT LIABILITY NOT PROVIDED
FOR
|
Particulars |
31.12.2010 |
31.12.2009 |
|
|
|
|
|
Customs Duty |
299.658 |
166.171
|
|
Guarantee Given by the Bank on behalf of the company |
0.200 |
0.200
|
|
TOTAL |
299.858 |
166.371
|
FIXED ASSETS
·
Leasehold Improvements
·
Computers
·
Furniture and Fixtures
·
Office Equipment
·
Marketing Assets
·
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.53.24 |
|
|
1 |
Rs.86.14 |
|
Euro |
1 |
Rs.69.98 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
MYI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
28 |
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.