MIRA
INFORM REPORT
|
Report Date : |
26.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
SHIVPRIYA CABLES PRIVATE LIMITED (w.e.f. 26.09.2007) |
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Formerly Known
As : |
SUPER SILICON PRIVATE LIMITED |
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Registered
Office : |
29/230, Railway Colony, Mandawali Fazalpur, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
03.02.2006 |
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Com. Reg. No.: |
55-170835 |
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Capital Investment
/ Paid-up Capital : |
Rs.48.000 Millions |
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|
CIN No.: [Company Identification
No.] |
U24116DL2006PTC170835 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELS35030C |
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PAN No.: [Permanent Account No.] |
AAJCS7155C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Supplier a wide Spectrum of Durable
Cables and Wires. |
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No. of Employees
: |
Not Available |
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 310000 |
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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 a company having moderate track. The financial position of
the company appears to be weak and vulnerable. Even though the company has achieved some growth in its sales turnover
during 2011, the profitability appears to be low. There appears huge external borrowings recorded by the company which
can be a threat to the company’s liquidity. 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 great
caution. |
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 |
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Restricted |
C2 |
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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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Term Loan: D |
|
Rating Explanation |
Default (Suspended) |
|
Date |
10.07.2012 |
|
Rating Agency Name |
ICRA |
|
Rating |
Fund Based Limit: D |
|
Rating Explanation |
Default (Suspended) |
|
Date |
10.07.2012 |
Reason for Suspension: Absence of requisite
information from the company.
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 : |
29/230, Railway Colony, Mandawali Fazalpur, Delhi – 110092, India |
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Tel. No.: |
Not Available |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Corporate Office : |
B - 15 / 23, Ground Floor, DLF City, Phase-I, Gurgaon -
122002, Haryana, India |
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Tel. No.: |
91-124-4986630/ 4986646 |
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Fax No.: |
91-124-4986631 |
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E-Mail : |
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Factory : |
F-122 and F-123,
RIICO Industrial Area, Chopanki, Bhiwadi, Rajasthan, India |
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Area : |
45000 Sq. ft |
DIRECTORS
As on: 18.07.2011
|
Name : |
Mr. Ajay Kumar Gupta |
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Designation : |
Director |
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Address : |
F-37, Preet Vihar, Delhi – 110092, India |
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Date of Birth/Age : |
18.09.1958 |
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Date of Appointment : |
16.07.2007 |
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DIN No.: |
01656219 |
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Other Directorship :
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|||||||||||||||||||||||||||
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Name : |
Mr. Ayush Gupta |
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Designation : |
Director |
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Address : |
F-37, Preet Vihar, Delhi – 110092, India |
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Date of Birth/Age : |
18.02.1985 |
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Date of Appointment : |
16.07.2007 |
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DIN No.: |
01649969 |
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 18.07.2011
|
Names of Shareholders |
|
No. of Shares |
|
Ajay Kumar Gupta |
|
3193400 |
|
Ayush Gupta |
|
1014300 |
|
Dayawati Gupta |
|
74100 |
|
Ajay Kumar Gupta and Sons (HUF) |
|
100 |
|
Onkar Nath and Sons (HUF) |
|
100 |
|
Seema Gupta |
|
118000 |
|
Gold Stone Financial Services Private Limited, India |
|
100000 |
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Megatronix Systems Private Limited, India |
|
100000 |
|
Magic Multiplayer Financial Services Private Limited, India |
|
100000 |
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Shreeram Trade Link, India |
|
100000 |
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|
|
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Total |
|
4800000 |
As on: 25.08.2012
|
Names of Allottee |
|
No. of Shares |
|
Ajay Kumar Gupta |
|
497400 |
|
Ayush Gupta |
|
1928000 |
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|
|
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Total |
|
2425400 |
As on: 07.10.2011
|
Names of Allottee |
|
No. of Shares |
|
Ajay Kumar Gupta |
|
1000000 |
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Total |
|
1000000 |
As on: 04.10.2011
|
Names of Allottee |
|
No. of Shares |
|
Ajay Kumar Gupta |
|
1000000 |
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Total |
|
1000000 |
Equity Share Break up (Percentage of Total Equity)
As on: 18.07.2011
|
Category |
|
Percentage |
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Directors or relatives of directors |
|
92.00 |
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Others |
|
8.00 |
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Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Supplier a wide Spectrum of Durable
Cables and Wires. |
GENERAL INFORMATION
|
Suppliers : |
· Advance Chemical industries · Aggarwal Bearing House · Aggarwal gas Agency · Ajay Stationers and Printers · Amzad Khan Electrical Engg. Works Arinit sales private limited · A.R.Nano Composites · Ashoka Manufacturing company · Asian Polymers · Bhardwaj Printing Press · Bimla Electricals · Bosco Tapes · Chitra Photostate · Dee Vee Enterprises · Dhruva Electricals · Durga Hardware and Electricals · Kejriwal Electrical Products · Khandelwal Agencies · Maharaja Stationery Mart · National Fire Protection · Pawan Enterprises · Reliable Industries · Rohit Security Service |
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Customers : |
· Amrit Wires and Cables · Asian Electronics · Deepak Cables Company · Dinesh Enterprises · Jain Electric Stores Indore · K M Electronics · Lotus Cable Centre · Manjushree Electricals · Manoj Electronics · M. K. Enterprises · Mukesh Enterprises · Natraj Cables · Nav Bharat Electronics · PGL Vskarm Chemicals · Ranjeet Electricals · Reliance Corporation · Sajal Electronics · Sanchit Trading Company · Seetu Electricals · Sehgal Sales Corporation · Shobit Enterprises · Shree Sales Corporation · Triveni Enterprises · Vishal Electronics |
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No. of Employees : |
Not Available |
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Bankers : |
·
State Bank of Bikaner and Jaipur, F-2/17-18,
Krishna Nagar, Delhi - 110051, India ·
Small Industries Development Bank of India, Udyog
Minar (Ground Floor), Vanijya Nikunj, Udyog Vihar Phase - V, Gurgaon -
122016, Haryana, India ·
IDBI Bank ·
Punjab National Bank ·
Axis Bank |
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Raj Kumar and Associates Chartered Accountants |
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Address : |
4435/7 Ansari Road, Darya Ganj, New Delhi – 110002, India |
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Tel. No.: |
91-11-41563091 |
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Fax No.: |
91-11-41563095 |
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E-Mail : |
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Website : |
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PAN No.: |
AAAFR9008B |
CAPITAL STRUCTURE
After: 18.07.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9225400 |
Equity Shares |
Rs.10/- each |
Rs.92.254
Millions |
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|
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|
As on: 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4800000 |
Equity Shares |
Rs.10/- each |
Rs.48.000
Millions |
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|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE SHEET
(CONSOLIDATED)
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
48.000 |
26.100 |
26.100 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
29.925 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
(0.286) |
(3.083) |
|
|
NETWORTH |
77.925 |
25.814 |
23.017 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
155.839 |
82.526 |
60.070 |
|
|
2] Unsecured Loans |
12.260 |
45.242 |
14.735 |
|
|
TOTAL BORROWING |
168.099 |
127.768 |
74.805 |
|
|
DEFERRED TAX LIABILITIES |
2.966 |
1.775 |
1.254 |
|
|
|
|
|
|
|
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TOTAL |
248.990 |
155.357 |
99.076 |
|
|
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|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
95.279 |
86.688 |
82.582 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
134.764
|
37.070 |
9.719 |
|
|
Sundry Debtors |
120.428
|
87.102 |
7.746 |
|
|
Cash & Bank Balances |
1.486
|
0.348 |
0.067 |
|
|
Other Current Assets |
32.279
|
16.197 |
9.079 |
|
|
Loans & Advances |
9.618
|
4.660 |
4.490 |
|
Total
Current Assets |
298.575
|
145.377 |
31.101 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
114.893
|
70.244 |
12.715 |
|
|
Other Current Liabilities |
28.250
|
8.077 |
2.206 |
|
|
Provisions |
2.910
|
0.000 |
0.006 |
|
Total
Current Liabilities |
146.053
|
78.321 |
14.927 |
|
|
Net Current Assets |
152.522
|
67.056 |
16.174 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
1.189 |
1.613 |
0.320 |
|
|
|
|
|
|
|
|
TOTAL |
248.990 |
155.357 |
99.076 |
|
PROFIT & LOSS
ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income/ turnover |
639.754 |
199.257 |
12.681 |
|
|
|
Other Income |
0.628 |
0.628 |
1.477 |
|
|
|
TOTAL (A) |
640.382 |
199.885 |
14.158 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase |
587.190 |
177.177 |
|
|
|
|
Excise Duty on Sales |
59.724 |
15.375 |
|
|
|
|
Direct Expenses |
29.093 |
9.902 |
|
|
|
|
Administrative Expenses |
13.772 |
7.489 |
|
|
|
|
Selling Expenses |
10.174 |
1.908 |
|
|
|
|
Preoperative Expenses Written off |
0.343 |
0.343 |
|
|
|
|
Preliminary Expenses Written off |
0.080 |
0.080 |
|
|
|
|
Increase/ decrease in Stock |
(97.694) |
(27.351) |
|
|
|
|
TOTAL (B) |
602.682 |
184.923 |
15.950
(Including Depreciation and Financial Expenses) |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
37.700 |
14.962 |
|
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
21.985 |
8.121 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
15.715 |
6.841 |
|
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
4.259 |
3.524 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
11.456 |
3.317 |
(1.792) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
4.568 |
0.520 |
1.260 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
6.888 |
2.797 |
(3.052) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.44 |
1.07 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.08 |
1.40 |
(21.56) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.79 |
1.66 |
(14.13) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.91 |
1.43 |
(1.58) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15 |
0.13 |
(0.08) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.03 |
7.98 |
3.90 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.04 |
1.86 |
2.08 |
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 |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
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 |
No |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
No |
|
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] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
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 |
Yes |
Note:
The Registered Office of the company has been shifted from H.N-898,
Sector - 4, GURGAON, Haryana, India to the present address w.e.f. 18.10.2007
OPERATING AND
FIANANCIAL RESULTS
During the year Profit and Loss Account of the company shows a profit of Rs.11.456 Millions before tax.
Bankers Charges
Report as per Registry
|
Corporate identity
number (CIN) or foreign company registration
number of the company |
U24116DL2006PTC170835 |
|
Name of the
company |
SHIVPRIYA CABLES
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
29/230, Railway Colony, Mandawali Fazalpur, Delhi – 110092, India E-mail: rajkumarg_ca@yahoo.co.in
|
|
This form is for |
Modification
of charge |
|
Charge
identification (ID) number of the charge to be modified |
10250883 |
|
Type of charge |
·
Immovable
property ·
Book
debts ·
Movable
property (not being pledge) |
|
Particular of
charge holder |
State Bank of Bikaner and Jaipur, F-2/17-18, Krishna Nagar, Delhi - 110051, India E-mail: sbbj10015@sbbj.co.in |
|
Nature of
instrument creating charge |
Supplemental Agreement
of Loan - Cum - Hypothecation
Date 09.11.2011 |
|
Date of
instrument Creating the charge |
09.11.2011 |
|
Amount secured by
the charge |
Rs.296.800
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest Rate of interest
@ 4.00% above base rate presently effective rate 14.25 % p.a. Terms of
Repayment Working capital -
payable on demand. Term loan shall be
repayable in 19 quarterly installments. Margin Raw material /
finished goods - 25% Semi finished
goods - 30% Receivables - 40% Extent and
Operation of the charge Extent and
operation - 100% Others The above is to
secure the following credit facilities :- (Rs. IN Millions) CC = 140.000,
Term Loan-1 = 40.100, Term Loan-2=20.000, 2 Car Loan: 1.700 Bank Guarantee = 45.000, LC = 500.00.
Total= 296.800 Millions |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
First
hypothecation charge of entire current assets of the company including stocks
of raw materials, stock in process, finished goods, stores, stocks in
transit, other current assets and book debts. Extension of 1st charge
on entire fixed assets (both present and future) of the company. Net Block
Rs. 95.200 Millions as on 31.03.2011. Extension of 1st
charge by way of equitable mortgage of leasehold commercial property 1 and
1/2 Storey Building at F-122 and F-123, RIICO Industrial Area, Chopanki,
Bhiwadi, Alwar, admeasuring 4192.50 sq |
|
Particulars of
the present modification |
Bank's first and
exclusive charge over all present and future current assets and movable fixed
assets of the company, already regd. For Rs. 227.700 Millions shall stand
enhanced to Rs. 296.800 Millions. |
FIXED ASSETS:
· Building
· Land
· Tools and Dies
· Plant and Machinery
· Furniture and Fixtures
· Car – Santro
· Car – Innova
· Car – Mercedes
· Computer
AS PER WEBSITE DETAILS:
Profile:
Subject enjoy an undisputed leadership in manufacturing and supplying a wide spectrum of durable cables and wires with a rich heritage of over 50 years. They have emerged as a reputed manufacturer and supplier in the wires and cables industry with a foresighted vision, a pioneering spirit, innovative approach, the expertise of a highly motivated and professional team, excellent infrastructure facilities, sales network and after sales service together synergised for the ultimate expression of customer satisfaction, quality and safety and emergence of the brand name “SPC”.
With a modest beginning of manufacturing with wires and cables, Subject has set up a most modern unit in Rajasthan at Chopanki (Bhiwadi) in 2008 and the second unit in 2010 with provision for sufficient backup of power by installing UPS.
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.53.63 |
|
|
1 |
Rs.86.18 |
|
Euro |
1 |
Rs.69.75 |
INFORMATION DETAILS
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
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.