MIRA
INFORM REPORT
|
Report Date : |
05.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
SOLVOSOL PAINTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
D-10, Phase-I, IDA Jeedimetla, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
08.11.1993 |
|
|
|
|
Com. Reg. No.: |
01-016536 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.3.126 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24220AP1993PTC016536 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturers and Exporters of Teflon and Wax Surface Coatings. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 58000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory. There appears
some dip in the profitability of the company. However, Networth of the company
appears to be satisfactory trade relations are reported as fair. Business is
active. Payments are reported to be usually correct 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.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced controls
on foreign trade and investment, began in the early 1990s and has served to
accelerate the country's growth, which has averaged more than 7% per year since
1997. India's diverse economy encompasses traditional village farming, modern
agriculture, handicrafts, a wide range of modern industries, and a multitude of
services. Slightly more than half of the work force is in agriculture, but
services are the major source of economic growth, accounting for more than half
of India's output, with only one-third of its labor force. India has
capitalized on its large educated English-speaking population to become a major
exporter of information technology services and software workers. In 2010, the
Indian economy rebounded robustly from the global financial crisis - in large
part because of strong domestic demand - and growth exceeded 8% year-on-year in
real terms. However, India's economic growth in 2011 slowed because of
persistently high inflation and interest rates and little progress on economic
reforms. High international crude prices have exacerbated the government's fuel
subsidy expenditures contributing to a higher fiscal deficit, and a worsening
current account deficit. Little economic reform took place in 2011 largely due
to corruption scandals that have slowed legislative work. India's medium-term
growth outlook is positive due to a young population and corresponding low
dependency ratio, healthy savings and investment rates, and increasing
integration into the global economy. India has many long-term challenges that
it has not yet fully addressed, including widespread poverty, inadequate
physical and social infrastructure, limited non-agricultural employment
opportunities, scarce access to quality basic and higher education, and
accommodating rural-to-urban migration.
|
Source
: CIA |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office : |
D-10, Phase-I, IDA Jeedimetla, Hyderabad - 500 055, Andhra
Pradesh, India |
|
Tel. No.: |
91-40-65697263 |
|
Fax No.: |
91-40-23371785 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Correspondence Office : |
Flat No. G 1, Samrat Apartment 5-9-12-1, Secretarial Road, Behaind Metro
Rail Bhavan, Saitabad, Hyderabad – 500004, Andhra Pradesh, India |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Konduru Venkateshwarlu |
|
Designation : |
Managing Director |
|
Address : |
Door No 3-5-110/2,Plot No 870,Vivekananda Nagar,
Kukatpally,Hyderabad-500072, Andhra Pradesh, India |
|
Date of Birth/Age : |
17.12.1946 |
|
Date of Appointment : |
08.11.1993 |
|
DIN No.: |
00770706 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U24220AP1993PTC016536 |
SOLVOSOL
PAINTS PRIVATE LIMITED |
Managing
director |
08/11/1993 |
08/11/1993 |
Active |
NO |
|
2 |
U24110AP1994PTC016914 |
A.K.D.ORGANICS
PRIVATE LIMITED |
Managing
director |
24/01/1994 |
24/01/1994 |
Active |
NO |
|
Name : |
Mr. Konduri Ramchandra Murthy |
|
Designation : |
Director |
|
Address : |
Plot No. 870, Vivekananda Nagar, Kukatpally, Hyderabad - 50072, Andhra
Pradesh, India |
|
Date of Birth/Age : |
17.06.1974 |
|
Date of Appointment : |
16.01.2006 |
|
DIN No.: |
00770759 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U24110AP1994PTC016914 |
A.K.D.ORGANICS
PRIVATE LIMITED |
Director |
24/01/1994 |
24/01/1994 |
Active |
NO |
|
2 |
U24220AP1993PTC016536 |
SOLVOSOL
PAINTS PRIVATE LIMITED |
Director |
16/01/2006 |
16/01/2006 |
Active |
NO |
|
Name : |
Mr. Konduri Bramarambha |
|
Designation : |
Director |
|
Address : |
Plot No. 880, V. V. Nagar,
Kukatpally, Hyderabad - 500072, Andhra Pradesh, India |
|
Date of Birth/Age : |
17.09.1952 |
|
Date of Appointment : |
08.11.1993 |
|
DIN No.: |
01829928 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U24220AP1993PTC016536 |
SOLVOSOL
PAINTS PRIVATE LIMITED |
Director |
08/11/1993 |
08/11/1993 |
Active |
NO |
|
2 |
U24110AP1994PTC016914 |
A.K.D.ORGANICS
PRIVATE LIMITED |
Director |
02/06/2008 |
02/06/2008 |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
K. Venkateshwarlu |
|
60076 |
|
K. Brahmarambha |
|
30100 |
|
K. S Padmapriya |
|
30100 |
|
K. Ramchandra Murthy |
|
30100 |
|
A K D Organics Private Limited, India
|
|
150999 |
|
Solvosol Industrial Solvents and Thinners, India |
|
11205 |
|
Total |
|
312580 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2012
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
48.00 |
|
Others |
|
52.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers and Exporters of Teflon and Wax Surface Coatings. |
|
|
|
|
Products : |
·
Polyurethane Coatings ·
Enamels ·
Acrylics ·
Epoxies ·
Moisture Cured Polyurethanes ·
Water Based Polyurethanes ·
PU Elastomers ·
Floor Coatings ·
Primers ·
Mio Primers ·
Etch Primers ·
Zinc Primers ·
Strap Coil Coatings ·
Mctar ·
MC Zinc Coatings ·
Wood Laquers ·
Coatings For Petroleum Storage Tanks |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||||||||||||||||||||
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Bankers : |
· Syndicate Bank, Khairtabad Branch, Hyderabad, Andhra Pradesh, India · City Union Bank Limited, Secunderabad Branch, 5-4-94, Lala Land Mark, M. G. Road, Ranigunj, Secunderabad – 500003, Andhra Pradesh, India · ICICI BANK, Khairatabad, Hyderabad - 500004 , Andhra Pradesh, India |
||||||||||||||||||||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||||||||||||||||||||
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Facilities : |
(Rs.
In Millions)
|
||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Raju and Srinivas Chartered Accountants |
|
Address : |
#402, Sowbhagya Avenue, Street No 1, Ashoknagar, Hyderabad – 500020,
Andhra Pradesh, India |
|
PAN No.: |
AADFR0762M |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs. 10/- each |
Rs. 5.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
312580 |
Equity Shares |
Rs. 10/-
each |
Rs. 3.126
millions |
|
|
|
|
|
Notes:
a) The details of
Shareholders holding more than 5% (percent) shares in the Company:
|
Name of the
Shareholder |
As at 31st March 2012 |
|
|
Equity Shares |
No. of |
% held |
|
|
Shares |
|
|
K.Venkatswarulu |
60,076 |
19.22 |
|
K.Bhramaramba |
30,100 |
9.63 |
|
K.S.Padma Priya |
30,100 |
9.63 |
|
K.RamaChandra Murthy |
30,100 |
9.63 |
|
A K D Organics Pvt Ltd |
150,999 |
48.31 |
|
Solvosol Industrial Solvents & Thinners |
11,205 |
0.04 |
|
Total |
312,580 |
|
As per of the Company, including its registers of Shareholders/Members and other declarations received from Shareholders regarding beneficial interest, the above shareholding represent both legal and beneficial ownership of shares
b) The reconcilation
of the number of shares outstanding is set out below :
Equity Shares
|
Particulars |
As at 31st March 2012 |
|
|
No. of Shares |
|
Equity Shares outstanding at the beginning of the year |
312,580 |
|
Add:Issued during the year-Fresh Issue |
- |
|
Equity Shares outstanding at the end of the year |
312,580 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
3.126 |
3.126 |
3.126 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
11.441 |
10.958 |
9.705 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
14.567 |
14.084 |
12.831 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
24.992 |
30.550 |
33.734 |
|
|
2] Unsecured Loans |
7.030 |
1.485 |
4.423 |
|
|
TOTAL BORROWING |
32.022 |
32.035 |
38.157 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
46.589 |
46.119 |
50.988 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
7.750 |
8.742 |
9.585 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
14.922 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.057 |
0.034 |
0.020 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
16.823
|
14.423 |
11.582 |
|
|
Sundry Debtors |
14.623
|
14.721 |
20.100 |
|
|
Cash & Bank Balances |
0.417
|
0.036 |
0.070 |
|
|
Other Current Assets |
0.534
|
0.347 |
20.472 |
|
|
Loans & Advances |
3.542
|
19.600 |
0.000 |
|
Total
Current Assets |
35.939
|
49.127 |
52.224 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
9.231
|
8.335 |
8.488 |
|
|
Other Current Liabilities |
2.610
|
2.865 |
0.462 |
|
|
Provisions |
0.238
|
0.584 |
1.891 |
|
Total
Current Liabilities |
12.079
|
11.784 |
10.841 |
|
|
Net Current Assets |
23.860
|
37.343 |
41.383 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
46.589 |
46.119 |
50.988 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
72.581 |
65.065 |
52.205 |
|
|
|
Other Income |
0.016 |
0.000 |
0.059 |
|
|
|
TOTAL |
72.597 |
65.065 |
52.264 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of goods Sold |
|
35.440 |
28.355 |
|
|
|
Manufacturing Expenses |
|
6.294 |
5.051 |
|
|
|
Employee benefits |
|
5.232 |
3.802 |
|
|
|
Administrative Expenses |
|
15.083 |
12.652 |
|
|
|
TOTAL |
70.868 |
62.049 |
49.860 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
1.729 |
3.016 |
2.404 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1.032 |
1.193 |
1.285 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
0.697 |
1.823 |
1.119 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.215 |
0.569 |
0.346 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
0.482 |
1.254 |
0.773 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
1.54 |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.66 |
1.93 |
1.48 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.96 |
2.80 |
2.14 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.60 |
3.15 |
1.81 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05 |
0.13 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.03 |
3.11 |
3.82 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.98 |
4.17 |
4.82 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
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 |
|
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 |
No |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if applicable) |
Yes |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
No |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
No |
|
29] |
Last accounts filed at ROC |
No |
|
30] |
Major Shareholders, if available |
No |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
No |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
REVIEW OF OPERATIONS
The Company achieved a turnover of Rs.72.581 Millions and could earn a profit of Rs. 0.698 Million during the year. The company is also one of victim for the global financial scenario. However due to timely diversification steps taken by the directors the company could achieve a commendable turnover during the year. The company expects to do well in the coming years.
PROSPECTS
The Company had approached Indian Railways and product had been accepted by them the company is in process of supplying the material to Indian Railways during the year which is good sign and good diversification to the company. Along with this the company is approaching new clients for increasing its area of operations.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U24220AP1993PTC016536 |
|||||||||||||||||||||
|
Name of the
company |
SOLVOSOL PAINTS PRIVATE LIMITED |
|||||||||||||||||||||
|
Address of the registered
office or of the principal place of
business in |
D-10, Phase-I,
IDA Jeedimetla, Hyderabad - 500 055, Andhra Pradesh, India E-Mail Id : rshyd9@gmail.com |
|||||||||||||||||||||
|
This form is for |
Modification of charge |
|||||||||||||||||||||
|
Charge
identification (ID) number of the charge to be modified |
10076122 |
|||||||||||||||||||||
|
Type of charge |
Book debts Movable property (not being pledge) |
|||||||||||||||||||||
|
Particular of
charge holder |
City Union Bank Limited,
Secunderabad Branch, 5-4-94, Lala Land Mark, M. G. Road, Ranigunj,
Secunderabad – 500003, Andhra Pradesh, India E-Mail Id : cub076@cityunionbank.com |
|||||||||||||||||||||
|
Nature of
instrument creating charge |
1)Supplemental
Agreement of Loan cum Hypothecation 2) Copy of Board
Resolution |
|||||||||||||||||||||
|
Date of
instrument Creating the charge |
15/12/2011 |
|||||||||||||||||||||
|
Amount secured by
the charge |
Rs. 26.500
Millions |
|||||||||||||||||||||
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest 1) No change
interest on existing OLCC Limit 2) OLCC (Short Term) limit at 15.75% p.a 3)
No change in the interest of other existing facilities Terms of
Repayment OLCC Limit as per
OD/CC Rules No change in the
repayment schedule of existing term loan limits No change in the
validity time of Supply of Bills Purchased limit. Margin 1) Margin on OLCC
Limit at 25% 2) No change in
the margins of other existing limits. Extent and
Operation of the charge The charge
operates as a first charge on the property charged until the repayment of the
entire credit facilities sanctioned by the bank |
|||||||||||||||||||||
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Hypothecation of
Stock and Book Debts of the company situated at D-10, Phase-I, IDA,
Jeedimetla, Hyderabad – 500055, India Hypothecation of
existing Plant and Machinery of the company situated at D-10, Phase-I, IDA,
Jeedimetla, Hyderabad - 500 055, India |
|||||||||||||||||||||
|
Particulars of
the present modification |
The existing
limits of Rs.255.00 Lakhs increased to Rs.265.00 Lakhs. (Rs. In Millions)
|
FIXED ASSETS:
· Land
· Buildings
· Office Equipment
· Furniture
· Motor Cycle
· Motor Car
· Weights and Measures
· Lab Equipment
· Plant and Machinery
· Computers
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.53.66 |
|
|
1 |
Rs.86.37 |
|
Euro |
1 |
Rs.69.24 |
INFORMATION DETAILS
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
42 |
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.