MIRA INFORM REPORT
|
Report Date : |
17.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
OSWAL EXTRUSION LIMITED |
|
|
|
|
Registered Office : |
H.B. Jirawala House, 13, Navbharat Society, Opposite Panchsheel Bus
Stop, Usmanpura, Ahmedabad-380013, Gujarat |
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|
|
Country : |
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|
|
|
Financials (as on) : |
31.03.2011 |
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|
|
|
Date of Incorporation : |
31.12.2004 |
|
|
|
|
Com. Reg. No.: |
04-45239 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.12.782
Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U25200GJ2004PLC045239 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
AHMO00467F |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturer
of Woven Products and Plastic Packaging Products. |
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|
|
|
No. of Employees : |
120 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1300000 |
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|
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|
Status : |
Satisfactory |
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|
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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|
Comments : |
Subject is a subsidiary of Plastene India Limited; the Flagship
Company of Gandhidham (Gujarat) based Champalal Group. It is a well established company having satisfactory track. It has
recorded some growth in its sales and profits during 2011. There appears huge external borrowings in the of the company. However,
trade relations are reported as fair. Business is active. Payments are
reported to be usually correct. 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.
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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
BBB – [Long Term Bank Facilities] |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
16.04.2012 |
|
Rating Agency Name |
CARE |
|
Rating |
A 3 [Short Term Bank Facilities] |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
16.04.2012 |
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.
INFORMATION PARTED BY [GENERAL DETAILS]
|
Name : |
Mr. Amit Chopra |
|
Designation : |
Assistant Manager |
|
Contact No.: |
91-792-7550764 |
|
Date : |
17.10.2012 |
LOCATIONS
|
Registered Office : |
H.B. Jirawala House, 13, Navbharat Society, Opposite Panchsheel Bus
Stop, Usmanpura, Ahmedabad-380013, Gujarat, India |
|
Tel. No.: |
V |
|
Mobile No.: |
91-9825912345 (Mr. Siddharth Shantilal Parekh) |
|
Fax No.: |
91-79-27551764 |
|
E-Mail : |
|
|
Website : |
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|
Area: |
10000 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Factory 1: |
Plot No. 73/74/75, A and 82-A, Sector 2, Kandal Special Economic Mic
Zone, Sector 2, Gandhidham, Kutch-370230, Gujarat, India |
|
Tel. No.: |
91-2836-236872 / 253289 |
|
Fax No.: |
91-2836-236872 / 253433 |
|
Area: |
10000 sq. ft. |
|
Location : |
Rented |
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|
|
|
Factory 2 : |
Plot No: 828, Ambica Industrial Estate, Near |
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|
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Factory 3: |
Survey No. 317, Nani Chiraj, Kutch-370140, Gujarat, India |
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Factory 4 : |
Survey No. 1551, Village Rajpur, Kadi - 38, Gujarat, India |
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Factory 5 : |
Plot No. 453 [Old Plot] 141-144, Sector 1, Kasez, Gandhidham, Kutch,
Gujarat, India |
DIRECTORS
AS ON 29.08.2011
|
Name : |
Mr. Chetan Shantilal Parekh |
|
Designation : |
Director |
|
Address : |
Plot No. 183, Sector - 4, Gandhidham – 370 201, |
|
Date of Birth/Age : |
30.01.1982 |
|
Date of Appointment : |
30.09.2005 |
|
DIN No.: |
00159465 |
|
|
|
|
Name : |
Mr. Ranjan Karunakar Samantaray |
|
Designation : |
Director |
|
Address : |
Plot No. 119, Ward No. 10/B/C, Vidyanagar, Opposite, IFFCO Udaynagar
Colony, Gandhidham – 370 201, Gujarat, India |
|
Date of Birth/Age : |
20.06.1970 |
|
Date of Appointment : |
30.09.2005 |
|
DIN No.: |
01684974 |
|
|
|
|
Name : |
Mr. Siddharth Shantilal Parekh |
|
Designation : |
Director |
|
Address : |
B-183, Sector - 4, Gandhidham - 370 201, |
|
Date of Birth/Age : |
07.06.1984 |
|
Date of Appointment : |
07.09.2007 |
|
DIN No.: |
01688066 |
|
|
|
|
Name : |
Mr. Parvesh Chander Chamanlal Suri |
|
Designation : |
Additional Director |
|
Address : |
A-3, Navroj Apartments, Dafnala Shahibaug, Ahmedabad – 380 004, |
|
Date of Birth/Age : |
31.12.1942 |
|
Date of Appointment : |
25.01.2011 |
|
DIN No.: |
01861687 |
KEY EXECUTIVES
|
Name : |
Mr. Amit Chopra |
|
Designation : |
Assistant Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.08.2011
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Plastene India Limited, |
10000 |
0.78 |
|
Plastene India Limited, |
58174 |
4.55 |
|
Plastene India Limited, |
160000 |
12.52 |
|
Plastene India Limited, |
50000 |
3.91 |
|
Plastene India Limited, |
80000 |
6.26 |
|
Plastene India Limited, |
10000 |
0.78 |
|
Plastene India Limited, |
10000 |
0.78 |
|
Plastene India Limited, |
900000 |
71.41 |
|
|
|
|
|
TOTAL
|
1278174 |
100.00 |
AS ON 29.08.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer
of Woven Products and Plastic Packaging Products. |
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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 |
PRODUCTION STATUS [AS ON 31.03.2010]
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
PP Woven Bags / Jumbo Bags |
M.T. |
No licence is
required for plastic woven and jumbo Bags
|
9000 |
3217 |
|
Sulzer Fabrics |
M.T. |
3600 |
133 |
|
|
Garbage Bags |
M.T. |
1500 |
-- |
|
|
HDPE Tarpaulin |
M.T. |
3600 |
000 |
|
|
TOTAL |
|
17700 |
3350 |
GENERAL INFORMATION
|
Customers : |
End Users and OEM’s |
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No. of Employees : |
120 [Approximately] |
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Bankers : |
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|
|||||||||||||||||||||||||||
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Facilities : |
|
|
|
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Banking
Relations : |
-- |
|
|
|
|
Financial
Institution : |
|
|
|
|
|
Auditors : |
|
|
Name : |
Jain P.C. and Associates Chartered Accountants |
|
Address : |
501, Diwan Chambers, Opposite Loha Bhavan, Old High Court Lane, Off Ashram
Road, Ahmedabad – 380 009, Gujarat, India |
|
Tel. No.: |
91-79-40070445 / 27542102 |
|
Mobile No.: |
91-9377396573 |
|
Fax No.: |
91-79-27542102 |
|
E-Mail : |
|
|
Website : |
|
|
PAN No: |
AAFFJ2841K |
|
|
|
|
Holding Company : |
Plastene India Limited (Extent of holding 100%) |
|
|
|
|
Related Parties : |
Substantially
Interested Parties : YMP Machineries Private Limited Associate Parties which significantly influence /
are influenced by the Company (either individual or with others) with whom
the Company had transactions during the year :
|
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1278174 |
Equity Shares |
Rs.10/- each
|
Rs.12.782
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
12.782 |
8.782 |
8.782 |
|
|
2] Share Application Money |
0.000 |
30.100 |
0.000 |
|
|
3] Reserves & Surplus |
314.137 |
199.254 |
141.335 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
326.919 |
238.136 |
150.116 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
471.784 |
383.481 |
151.608 |
|
|
2] Unsecured Loans |
0.000 |
0.748 |
52.119 |
|
|
TOTAL BORROWING |
471.784 |
384.229 |
203.727 |
|
|
DEFERRED TAX LIABILITIES |
13.506 |
8.664 |
4.233 |
|
|
|
|
|
|
|
|
TOTAL |
812.209 |
631.029 |
358.076 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
283.925 |
160.090 |
90.913 |
|
|
Capital work-in-progress |
47.953 |
127.837 |
0.050 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.337 |
0.337 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
234.197
|
224.615 |
98.603
|
|
|
Sundry Debtors |
474.296
|
339.538 |
105.975
|
|
|
Cash & Bank Balances |
58.231
|
63.665 |
6.536
|
|
|
Other Current Assets |
0.000
|
0.000 |
0.000
|
|
|
Loans & Advances |
139.291
|
155.807 |
200.170
|
|
Total
Current Assets |
906.015
|
783.625 |
411.284 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
414.365
|
356.959 |
131.411 |
|
|
Other Current Liabilities |
25.431
|
75.652 |
7.589
|
|
|
Provisions |
10.257
|
8.597 |
5.207
|
|
Total
Current Liabilities |
450.053
|
441.208 |
144.207
|
|
|
Net Current Assets |
455.962
|
342.417 |
267.077
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
24.032 |
0.348 |
0.036 |
|
|
|
|
|
|
|
|
TOTAL |
812.209 |
631.029 |
358.076 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1957.212 |
1111.091 |
651.326 |
|
|
|
Other Income |
18.330 |
29.006 |
(4.994) |
|
|
|
TOTAL (A) |
1975.542 |
1140.097 |
646.332 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption Materials Changes Inventories |
1617.822 |
943.972 |
|
|
|
|
Manufacturing Services Cost |
33.257 |
10.735 |
|
|
|
|
Contract Cost |
27.437 |
10.185 |
547.546 |
|
|
|
Employee Related Expenses |
36.599 |
24.540 |
|
|
|
|
Administrative Selling Other Expenses |
91.099 |
39.007 |
|
|
|
|
Prior Period Items |
1.726 |
0.000 |
|
|
|
|
TOTAL (B) |
1807.940 |
1028.439 |
547.546 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
167.602 |
111.658 |
98.786 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
56.853 |
36.306 |
21.879 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
110.749 |
75.352 |
76.907 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
11.781 |
4.906 |
2.504 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
98.968 |
70.446 |
74.403 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
10.086 |
12.527 |
6.200 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
88.882 |
57.919 |
68.203 |
|
|
|
|
|
|
|
|
|
Less |
INCOME TAX OF
EARLIER YEARS |
0.000 |
0.000 |
0.011 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
176.754 |
118.835 |
50.643 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
265.636 |
176.754 |
118.835 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
1233.114 |
617.330 |
590.614 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
105.912 |
105.887 |
0.000 |
|
|
|
Capital Goods |
0.000 |
77.658 |
0.000 |
|
|
|
Consumable and Stores |
0.072 |
0.000 |
0.000 |
|
|
TOTAL IMPORTS |
105.984 |
183.545 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
92.69 |
80.22 |
77.66 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
4.50
|
5.08 |
10.55 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.05
|
6.34 |
11.42 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.32
|
7.46 |
14.82 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.30
|
0.30 |
0.50 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.82
|
3.47 |
2.32 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.01
|
1.78 |
2.85 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY CREDITORS:
|
Particulars |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
|
Sundry Creditors |
414.365
|
356.959 |
131.411 |
|
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 |
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 |
Yes |
|
20] |
Export / Import details (if applicable) |
No |
|
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 |
|
31] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
OPERATIONS:
The year shows a
tremendous increase in the turnover of the company including both domestic and
from exports of Rs.2015.689 Millions as against Rs. 1133.782 Millions reflecting
a growth of 56.24%. The domestic sales have increased from Rs. 445.109 Millions
to Rs 720.472 in the year registering a incredible growth rate in the total
turnover. The profit after tax of the Company also shows a reasonable growth
from Rs. 57.919 Millions to 86.429 Millions. The Company is expanding year
after year and has started a new factory at Plot no 453 (old plot), 141-144
Sector 1, Kasez Gandhidham, Kutch, Gujarat.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U25200GJ2004PLC045239 |
|
Name of the
company |
OSWAL EXTRUSION
LIMITED |
|
Address of the
registered office or of the principal place of business in |
H.B. Jirawala House, 13, Navbharat Society, Opposite Panchsheel Bus
Stop, Usmanpura, Ahmedabad-380013, Gujarat, India |
|
Type of charge |
Movable Property
[not being pledge] |
|
Particular of
charge holder |
Siemens Financial Services Private Limited, 130, Pandurang Budhkar
Marg, Worli, Mumbai-400018, Maharashtra, India Email: navin.joshi@siemens.com |
|
Nature of
description of the instrument creating or modifying the charge |
Deed of
Hypothecation |
|
Date of
instrument Creating the charge |
30.08.2012 |
|
Amount secured by
the charge |
Rs.4.199 Millions
|
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest 12.50% p.a. Terms of Repayment Repayable in 60
installments Margin Contributed By
Borrower Extent and Operation of the charge First and
exclusive charge in favour of Siemens Financial Services Private Limited on
the asset financed |
|
Short particulars
of the property charged |
Asset details - 1 No. 200 KVA ,
11/0.433 KV oil, cooled distribution transformer 1 No. 11 KV
switchboard epoxy ct/pt with metering protection 1 No. GWK water
cooled compact water chiller (WECO 30w) 1 No. GWK water
Colled compact water chiller (WECO 198w) 1 No. Compact Air
Chiller Model PBF 80 1 No. Compact Air
Chiller Model PBF 30 Assets location -
Survey No. 44, Village Varsana, Taluka Anjar, Kutch, Gujarat - 370240 |
FIXED ASSETS:
- Building and
Shed
- Plant and
Machinery
- Electrical
Installation
- Furniture and
Fittings and Office Equipments
- 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.52.82 |
|
|
1 |
Rs.84.95 |
|
Euro |
1 |
Rs.68.61 |
INFORMATION DETAILS
|
Information
Gathered by : |
SLP |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
44 |
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.