|
Report Date : |
10.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
GUALA CLOSURES ( |
|
|
|
|
Registered
Office : |
D-1, Sesa Ghor, Patto, Panjim – 403001, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
09.12.1994 |
|
|
|
|
Com. Reg. No.: |
24-001729 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 170.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74950GA1994PTC001729 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRG04447C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACG4447J |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
The Company is primarily engaged in the manufacture of non refillable
plastic closures and nip caps. |
|
|
|
|
No. of Employees
: |
Information not given by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (64) |
|
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 9700000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having fine track. Financial position
of the 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 good for normal 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 |
INFORMATION DECLINED BY
|
Name : |
Mr. Parab |
|
Designation : |
Key Executive |
LOCATIONS
|
Registered Office : |
D-1, Sesa Ghor, Patto, 20 EDC Complex , Panjim – 403001, Goa, India |
|
Tel. No.: |
91-832-2438944 / 2438945 |
|
Fax No.: |
91-832-2438943 |
|
E-Mail : |
DIRECTORS
AS ON 29.09.2011
|
Name : |
Mr. Antonio Negro Dal |
|
Designation : |
Chairman Cum Managing Director |
|
Address : |
House No. 8 122 B Altinho, Panaji 403001, North – |
|
Date of Birth/Age : |
24.01.1938 |
|
Date of Appointment : |
14.12.1994 |
|
Date of Cession : |
31.12.2011 |
|
DIN No.: |
00004506 |
|
|
|
|
Name : |
Mr. Paolo Ferrari |
|
Designation : |
Director |
|
Address : |
Plaza Dazello, 10, 15100, allessandria, |
|
Date of Birth/Age : |
20.02.1956 |
|
Date of Appointment : |
14.12.1994 |
|
DIN No.: |
01474517 |
|
|
|
|
Name : |
Mr. Marco Giovannini |
|
Designation : |
Director |
|
Address : |
Paleocapa Pietro N.4, 20122, Milano, Italy |
|
Date of Birth/Age : |
16.04.1956 |
|
Date of Appointment : |
17.05.2007 |
|
DIN No.: |
01177504 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U74950GA1994PTC001729 |
GUALA
CLOSURES (INDIA) PRIVATE LIMITED |
Director |
17-05-07 |
17-05-07 |
- |
Active |
NO |
|
2 |
U29244GA2008PTC005804 |
OMSO
ORIENT PRINTING MACHINES PRIVATE LIMITED |
Alternate
director |
22-09-08 |
22-09-08 |
31-12-11 |
Active |
NO |
|
Name : |
Mr. Ignatius M. D’souza |
|
Designation : |
Alternate Director |
|
Address : |
Heg 26, HIG Scheme, Housing Board Complex, Poruorim-403521, North – |
|
Date of Birth/Age : |
08.06.1933 |
|
Date of Appointment : |
14.12.1994 |
|
DIN No.: |
00161553 |
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 |
U74950GA1994PTC001729 |
GUALA
CLOSURES (INDIA) PRIVATE LIMITED |
Alternate
director |
14-12-94 |
14-12-94 |
Active |
NO |
|
2 |
U29230GA2011PTC006813 |
THERMOPLAY
INDIA PRIVATE LIMITED |
Director |
31-10-11 |
31-10-11 |
Active |
NO |
|
Name : |
Mr. Ravi Gupta |
|
Designation : |
Managing Director |
|
Address : |
Shivayan H. No.1589/1, D. B. Borkar Road, Opposite Parag Bar, Alto
Porvorim-403521, Goa, India |
|
Date of Birth/Age : |
11.11.1950 |
|
Date of Appointment : |
11.06.2011 |
|
DIN No.: |
02095846 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U33100GA2008PTC005732 |
CREATIVE
MOULDS (INDIA) PRIVATE LIMITED |
Managing
director |
29-09-11 |
29-05-08 |
- |
Active |
NO |
|
2 |
U29244GA2008PTC005804 |
OMSO
ORIENT PRINTING MACHINES PRIVATE LIMITED |
Managing
director |
01-07-11 |
23-06-08 |
- |
Active |
NO |
|
3 |
U74999CH2009PTC031661 |
HINDUSTAN
CLOSURES PRIVATE LIMITED |
Director |
30-09-10 |
08-01-10 |
23-03-11 |
Active |
NO |
|
4 |
U74950GA1994PTC001729 |
GUALA
CLOSURES (INDIA) PRIVATE LIMITED |
Managing
director |
29-09-11 |
11-06-11 |
- |
Active |
NO |
|
Name : |
Mr. Aiudi Davide |
|
Designation : |
Alternate Director |
|
Address : |
Via Gastone Sozzi, 24, Marino RM, Italy-40 |
|
Date of Birth/Age : |
30.12.1981 |
|
Date of Appointment : |
11.06.2011 |
|
DIN No.: |
03571995 |
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 |
U74950GA1994PTC001729 |
GUALA
CLOSURES (INDIA) PRIVATE LIMITED |
Alternate
director |
11-06-11 |
11-06-11 |
Active |
NO |
|
2 |
U29244GA2008PTC005804 |
OMSO
ORIENT PRINTING MACHINES PRIVATE LIMITED |
Alternate
director |
01-07-11 |
01-07-11 |
Active |
NO |
|
3 |
U33100GA2008PTC005732 |
CREATIVE
MOULDS (INDIA) PRIVATE LIMITED |
Alternate
director |
01-07-11 |
01-07-11 |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Mr. Parab |
|
Designation : |
Key Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2011
|
Names of Shareholders |
No. of Shares |
|
Guala Cloures Orient BV, Netherlands |
16150000 |
|
Ashok Kapoor |
849990 |
|
Ignatius Dsouza |
10 |
|
Total |
17000000 |
AS ON 29.09.2011
|
Equity Shares
Break Up |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
95.00 |
|
Other top fifty shareholders |
5.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is primarily engaged in the manufacture of non refillable
plastic closures and nip caps. |
||||
|
|
|
||||
|
Products : |
|
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Closures |
In Nos. |
440000000 |
438309208 |
|
Nip Caps |
In Nos. |
1101500000 |
1101320146 |
Note:
* Only job work activity
for part of the year, hence not relevant and not disclosed
1) Licensed
capacity has not been shown, as the same is not applicable to the industry.
2) Installed
capacity is as certified by the management and has been accepted by the
auditors without verification, being a technical matter.
GENERAL INFORMATION
|
No. of Employees : |
Information not given by the management |
|
|
|
|
Bankers : |
·
State Bank of India, Commercial Branch, Patto,
Panji-403001, Goa, India ·
HDFC Bank
Limited, HDFC Bank House Senapati Bapat Marg, Lower Parel (West),
Mumbai-400013, Maharashtra, India ·
HDFC Bank Limited, Minum Residency,
Panji-403001, Goa, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
BSR and Company |
|
Address : |
KPMG House, Kamala Mills Compound, 448, Senapati Bapat Marg, |
|
Tel. No.: |
91-22-39896000 |
|
Fax No.: |
91-22-39836000 |
|
Pan No. : |
AAAFB9852F |
|
|
|
|
Ultimate Holding Company : |
·
GCL Holding SCA, Luxembourg |
|
|
|
|
Holding Company : |
·
GCL Special Closures S.r.l, Italy ·
Guala Closures S. p. A. Italy ·
Guala Closures International B.V. Netherlands |
|
|
|
|
Fellow Subsidiaries : |
·
Beijing Guala Closures Company Limited ·
Creative GCL S.r.l ·
Guala Closures Iberica S.A ·
Guala Closures de Mexico S.A de C.V ·
Guala Closures Tools AD OMSO Orient
Printing Machines Private Limited CIN No:-
U29244GA2008PTC005804 Creative Moulds
(India) Private Limited CIN No:-
U33100GA2008PTC005732 |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
17000000 |
Equity Shares |
Rs.10/- each |
Rs. 170.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
17000000 |
Equity Shares |
Rs.10/- each |
Rs. 170.000 Millions |
|
|
|
|
|
Note: Of the above,
16,150,000 (Previous year: 16,150,000) equity shares are held by Guala Closures
Orient B.V., Netherlands, the holding company.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.12.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
170.000 |
170.000 |
170.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
2272.314 |
1849.555 |
1488.267 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
2442.314 |
2019.555 |
1658.267 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.288 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.288 |
|
|
DEFERRED TAX LIABILITIES |
57.380 |
66.986 |
62.859 |
|
|
|
|
|
|
|
|
TOTAL |
2499.694 |
2086.541 |
1721.414 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1206.920 |
1146.821 |
1072.395 |
|
|
Capital work-in-progress |
84.970 |
34.810 |
78.896 |
|
|
|
|
|
|
|
|
INVESTMENT |
75.246 |
0.002 |
0.002 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
80.229
|
76.998 |
67.045 |
|
|
Sundry Debtors |
708.159
|
844.061 |
585.912 |
|
|
Cash & Bank Balances |
336.927
|
91.779 |
89.176 |
|
|
Other Current Assets |
2.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
1097.213
|
851.668 |
568.047 |
|
Total
Current Assets |
2224.528
|
1864.506 |
1310.180 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
65.312
|
36.419 |
195.834 |
|
|
Other Current Liabilities |
63.257
|
61.599 |
43.561 |
|
|
Provisions |
963.401
|
861.580 |
500.664 |
|
Total
Current Liabilities |
1091.970
|
959.598 |
740.059 |
|
|
Net Current Assets |
1132.558
|
904.908 |
570.121 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2499.694 |
2086.541 |
1721.414 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.12.2008 |
|
|
|
|
|
|
|
|
|
|
TURNOVER |
2792.490 |
3020.310 |
2130.351 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
NA |
NA |
933.387 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
NA |
NA |
110.225 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
1227.788 |
1203.750 |
823.162 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
359.001 |
303.912 |
241.561 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
868.787 |
899.838 |
581.601 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1459.334 |
1188.029 |
887.346 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
86.879 |
89.984 |
58.160 |
|
|
|
Dividend |
382.500 |
460.700 |
190.400 |
|
|
|
Tax on Dividend |
63.528 |
77.849 |
32.358 |
|
|
BALANCE CARRIED
TO THE B/S |
1795.214 |
1459.334 |
1188.029 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
4.001 |
40.720 |
NA |
|
|
TOTAL EARNINGS |
4.001 |
40.720 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
86.186 |
76.075 |
NA |
|
|
|
Stores & Spares |
19.638 |
19.458 |
NA |
|
|
|
Capital Goods |
125.961 |
186.080 |
NA |
|
|
|
Finished Goods |
103.744 |
0.000 |
NA |
|
|
TOTAL IMPORTS |
335.529 |
281.613 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
51.11 |
52.93 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.12.2008 |
|
Net Profit Margin (PBT/Sales) |
(%) |
43.97
|
39.86 |
38.64 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
35.78
|
39.97 |
34.55 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.50
|
0.60 |
0.50 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.47
|
0.51 |
0.48 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.04
|
1.94 |
1.77 |
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 |
No |
|
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 |
Yes |
|
10) Designation of contact person |
Yes |
|
11) Turnover of firm for last three years |
Yes |
|
12) Profitability for last three years |
Yes |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
No |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
Yes |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
No |
|
20) Export / Import details (if
applicable) |
-- |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter
involved in |
-- |
|
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 9 December 1994 as a private limited company. The Company is primarily
engaged in the manufacture of non refillable plastic closures and nip caps. The
Company has manufacturing plants at Goa and Daman. The registered office of the
Company is situated in Panjim, Goa.
OPERATIONAL
PERFORMANCE:
The sales have
increased during the year on an annualized basis. Strict monitoring of
operations ensured the increase in gross profit also on an annualized basis.
The demand for Nip
Cap continues to grow in double digit. As in the previous year, the Company has
exported its products to Nepal, Sri Lanka, Malaysia, Jordan, Italy etc. During
the year the operation of the PET-preform manufacturing unit was discontinued.
During the year,
the Board, considering the growing demand for security closures, approved
setting up a new plant at Ahmedabad. This new plant is expected to be
operational in October, 2011. With this expansion, the installed capacity of
manufacturing Closures/Nip Caps will be higher by 30%.
CONTINGENT
LIABILITIES:
(Rs.
In Millions)
|
Particulars |
31.03.2011 |
As at and for
the 15 months period ended 31 March
2010 |
|
Letter of credit
issued by the Banks |
22.357 |
0.000 |
|
Excise Duty |
2.680 |
0.000 |
|
Bank guarantees given
by the Company |
14.137 |
11.537 |
(ii) The Company
is eligible for sales tax incentive under the Goa Value Added Tax Act, 2005 as
per the conditions stipulated in the applicable scheme. The Company may be liable
for penalty in case of non-fulfillment of conditions over the stipulated
period.
(iii) Subsequent
to year end, the Company received a show cause notice cum demand (SCN) from the
Joint Commissioner of Central Excise and Service tax, Panaji – Goa to pay
excise duty aggregating to Rs. 2,679,993 on sales tax incentive retained by the
Company. The Company has filed a reply to the said SCN. This is an
industry-wide issue for all units located in Goa Industrial Development
Corporation area with precedents of legal cases on the issue, as to why the
excise duty should not be levied on the sales tax incentive retained by the
Company. In view of the above, the management believes that the probability of
case being decided in favour of the Company is very high and hence, no
provision for the same is created in the books.
FORM 8
|
Corporate
identity number of the company |
U74950GA1994PTC001729 |
|
Name of the
company |
GUALA CLOSURES ( |
|
Address of the registered
office or of the principal place of
business in |
D-1, Sesa Ghor, Patto, Panjim – 403001, |
|
This form is for |
Creation of
charge |
|
Type of charge |
Book debts Movable property
(not being pledge) Floating charge |
|
Particular of
charge holder |
HDFC Bank
Limited, HDFC Bank House Senapati Bapat Marg, Lower Parel (West),
Mumbai-400013, Maharashtra, India |
|
Nature of
instrument creating charge |
letter of
hypothecation of stocks and book debts |
|
Date of
instrument Creating the charge |
22.01.2010 |
|
Amount secured by
the charge |
Rs. 200.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest As stipulated by the
bank from time to time. Terms of repayment Subject to
discretion of the bank Margin As may be
specified by the bank from time to time. Extent and operation of the charge First and
exclusive charge by way of hypothecation on entire current assets of the
company both present and future. |
|
Short particulars
of the property charged (Including location of the property) |
First and
exclusive charge by way of hypothecation on entire current assets of the
company both present and future. |
FIXED ASSETS
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. 53.46 |
|
|
1 |
Rs. 86.27 |
|
Euro |
1 |
Rs. 69.40 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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 |
8 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
64 |
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.