|
Report Date : |
27.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
VISHAKHA IRRIGATION PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
“Vishakha House”, 2nd Floor, Ashirvad Paras Corporate House
No.2, Corporate Road, Prahladnagar, Ahmedabad – 380 015, |
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Country : |
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|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
13.03.2008 |
|
|
|
|
Com. Reg. No.: |
04-053240 |
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|
|
|
Capital
Investment/ Paid-up Capital: |
Rs.16.146 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29299GJ2008PTC053240 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMV03483E |
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|
|
|
PAN No.: [Permanent Account No.] |
AACCV6706D |
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|
|
Legal Form : |
Private Limited Liability Company |
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|
|
Line of Business
: |
Manufacturing of Drip Irrigation System and Sprinkler. |
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|
|
|
No. of
Employees: |
297 (Approximately) (in Office + Factory -160, In Marketing -125, In
Admin - 12) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (33) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 363000 |
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|
|
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Slow but correct |
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|
|
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Litigation : |
Clear |
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|
Comments : |
Subject is a 50:50 Joint Venture between the Doshi Family and Adani
Agro Private Limited. It is an established company having moderate track. It has maintained high debtor and inventory level due to which its
liquidity is stretched. There appears huge external borrowings recorded by
the company. However, trade relations are reported as fair. Business is active.
Payments are reported to be slow but correct. The company can be considered for business dealings with some caution. |
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
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
B + (Term Loan and Cash Credit ) |
|
Rating Explanation |
High risk of default |
|
Date |
17.01.2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A4 ( Letter of credit and bank guarantee) |
|
Rating Explanation |
Minimal Degree of safety and very high
credit risk |
|
Date |
17.01.2012 |
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
|
Name : |
Mr. Shailesh |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-79-61907373 |
|
Date : |
25.10.2012 |
LOCATIONS
|
Registered/ Head Office : |
“Vishakha House”, 2nd Floor, Ashirvad Paras Corporate House
No.2, Corporate Road, Prahladnagar, Ahmedabad – 380 015, |
|
Tel. No.: |
91-79-61907373/ 29701564/ 29701566/ 61907373 |
|
Fax No.: |
91-79-61907340/ 61907330 |
|
E-Mail : |
|
|
Website : |
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|
Location : |
Owned |
|
|
|
|
Factory : |
Block No.792, |
|
Location : |
Owned |
|
|
|
|
Branch Office : |
Located at: v
Pune v
Jalgaon v
v
Barsi v
Malakapur v
Bhokhardhan v
Tembumi v
Amaravati v
Sangli v
v
v
v
v
Anantpur v
Bhinmal v
v
Deesa v
Botad v
Dhoraji v
Sabarkantha v
Shreerampur |
DIRECTORS
As on 30.09.2012
|
Name : |
Mr. Jigish Nagindas Doshi |
|
Designation : |
Director |
|
Address : |
6, Shrushti Bunglow, 132, FT Ring Road, Ashwamegh, 4B Extension,
Satellite, Ahmedabad – 380 015, Gujarat, India |
|
Date of Birth/Age : |
17.01.1961 |
|
Date of Appointment : |
13.03.2008 |
|
Din No.: |
00380192 |
|
|
|
|
Name : |
Mr. Doshi Umesh Nagindas |
|
Designation : |
Director |
|
Address : |
7, Shrushti Bunglow, 132, FT Ring Road, Ashwamegh, 4B Extension,
Satellite, Ahmedabad – 380 015, Gujarat, India |
|
Date of Birth/Age : |
14.11.1951 |
|
Date of Appointment : |
13.03.2008 |
|
Din No.: |
01192268 |
|
|
|
|
Name : |
Mr. Bhadresh Nagindas Doshi |
|
Designation : |
Director |
|
Address : |
26, Shrushti Bunglow, 132, FT Ring Road, Ashwamegh, 4B Extension,
Satellite, Ahmedabad – 380 015, Gujarat, India |
|
Date of Birth/Age : |
08.02.1956 |
|
Date of Appointment : |
29.09.2008 |
|
Din No.: |
00380239 |
KEY EXECUTIVES
|
Name : |
Mr. Shailesh |
|
Designation : |
Finance Manager |
|
|
|
|
Name : |
Mr. Tapan Shah |
|
Designation : |
Company Secretary |
|
Address : |
814, Anand Mangal-3, Opposite Core House, Near Doctor House,
Ellisbridge, Ahmedabad – 380 006, |
|
Tel. No.: |
91-79-26430810/ 30081114 |
|
Fax No.: |
91-79-26430810 |
|
E-Mail : |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Adani Agro Private Limited, |
|
807300 |
|
Jigish N. Doshi (Nominee of Vishakha Industries, |
|
566610 |
|
Umesh N. Doshi (Nominee of Vishakha Industries, |
|
120320 |
|
Bhadresh N. Doshi (Nominee of Vishakha Industries, |
|
120370 |
|
Total |
|
1614600 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
50.00 |
|
Directors
or relatives of directors |
|
50.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Drip Irrigation System and Sprinkler. |
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|
|
|
Imports : |
|
|
Products : |
Raw Material |
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Countries : |
·
·
Gulf Countries |
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|
Terms : |
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Selling : |
Cash/Credit |
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Purchasing : |
Cash/Credit |
PRODUCTION STATUS (As on 31.03.2010)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity Qty.
(M.T.) |
Actual
Production |
|
Micro Irrigation System Equipments |
Metric Tons |
Not Applicable |
6660 |
817.896 |
GENERAL INFORMATION
|
Suppliers : |
Farmers |
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Customers : |
Wholesalers, Retailers ·
Reliance Industries Limited |
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No. of Employees : |
297 (Approximately) (in Office + Factory -160, In Marketing -125, In
Admin - 12) |
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|
|||||||||||||||||||||||||||||||||
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Bankers : |
State Bank of India, Commercial Branch, 3rd Floor,
Paramsiddhi Complex, Opposite V.S. Hospital, Ellisbridge, Ahmedabad – 380
006, Gujarat, India |
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Facilities : |
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Banking
Relations : |
-- |
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|
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Auditors : |
|
|
Name : |
Dharmesh Parikh and Company Chartered Accountants |
|
Address : |
303-304, ‘Milestone’, Near Drive-in-Cinema, |
|
Tel. No.: |
91-79-27474466 |
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Fax No.: |
91-79-27479955 |
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Pan No.: |
AASPP2756N |
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|
|
|
Associates : |
v Labdhi International Private Limited v Jigish Marketing v Doshi Marketing v Progressive Plastic Industries v Jigish Traders v Vishakha Industries v Vishakha Polyfab Private Limited |
CAPITAL STRUCTURE
As on 30.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1614600 |
Equity Shares |
Rs.10/- each |
Rs.16.146
millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
01.03.2009 to
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
16.146 |
11.632 |
5.575 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
74.569 |
41.584 |
16.425 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
(2.615) |
|
|
NETWORTH |
90.715 |
53.216 |
19.385 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
192.815 |
93.374 |
35.164 |
|
|
2] Unsecured Loans |
98.662 |
33.657 |
15.220 |
|
|
TOTAL BORROWING |
291.477 |
127.031 |
50.384 |
|
|
DEFERRED TAX LIABILITIES |
4.231 |
3.218 |
2.861 |
|
|
|
|
|
|
|
|
TOTAL |
386.423 |
183.465 |
72.630 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
122.599 |
65.169 |
50.440 |
|
|
Capital work-in-progress |
5.067 |
2.838 |
0.040 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.020 |
0.020 |
0.020 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
194.605
|
90.056
|
18.963 |
|
|
Sundry Debtors |
134.477
|
57.172
|
0.639 |
|
|
Cash & Bank Balances |
9.583
|
7.985
|
2.390 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
21.568
|
8.726
|
5.560 |
|
Total
Current Assets |
360.233
|
163.939
|
27.552 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
48.956 |
18.153 |
4.325 |
|
|
Other Current Liabilities |
51.179
|
30.087
|
1.038 |
|
|
Provisions |
1.361
|
0.261
|
0.059 |
|
Total
Current Liabilities |
101.496
|
48.501
|
5.422 |
|
|
Net Current Assets |
258.737
|
115.438
|
22.130 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
386.423 |
183.465 |
72.630 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
01.03.2009 to
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Gross Sales (Net of Excise Duty) |
341.833 |
119.920 |
2.783 |
|
|
|
Other Income |
0.123 |
0.221 |
0.002 |
|
|
|
TOTAL (A) |
341.956 |
120.141 |
2.785 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Material Cost |
208.422 |
71.915 |
(0.629) |
|
|
|
Manufacturing and Other Expenses |
40.854 |
17.008 |
1.317 |
|
|
|
Selling and Distribution Expenses |
46.109 |
13.770 |
0.488 |
|
|
|
Preliminary Expenses Written Off |
0.000 |
0.000 |
0.311 |
|
|
|
TOTAL (B) |
295.385 |
102.693 |
1.487 |
|
|
|
|
|
|
|
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
45.571 |
17.448 |
1.298 |
|
|
|
|
|
|
|
|
|
Less |
FINANCE CHARGES (D) |
28.897 |
8.631 |
0.446 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
16.674 |
8.817 |
0.852 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
10.662 |
7.291 |
0.548 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) BEFORE
TAX (E-F) (G) |
6.012 |
1.526 |
0.304 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.014 |
0.403 |
2.919 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
4.998 |
1.123 |
(2.615) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(1.492) |
(2.615) |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
3.506 |
(1.492) |
(2.615) |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
9.803 |
2.680 |
|
|
TOTAL IMPORTS |
NA |
9.803 |
2.680 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
|
|
|
|
|
|
- Basic |
3.86 |
0.97 |
(41.84) |
|
|
|
- Diluted |
3.86 |
1.47 |
(41.84) |
|
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
580.000 (has per many
branches |
|
|
|
|
|
Expected Sales (2012-2013): Rs.750.000 Millions
The above information has been parted by Mr. Shailesh
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
01.03.2009 to
31.03.2009 |
|
PAT / Total Income |
(%) |
1.46 |
0.93
|
(93.90) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.76 |
1.27
|
10.92 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.25 |
0.67
|
0.39 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07 |
0.03
|
0.02 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.33 |
3.30
|
2.88 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.55 |
3.38
|
5.08 |
LOCAL AGENCY FURTHER INFORMATION
|
Available
in Report [Yes/No] |
|
|
Year
of Establishment |
Yes |
|
Locality
of the Firm |
Yes |
|
Constitution
of the firm |
Yes |
|
Premises
details |
No |
|
Type
of Business |
Yes |
|
Line
of Business |
Yes |
|
Promoters
background |
Yes |
|
No.
of Employees |
Yes |
|
Name
of Person Contacted |
Yes |
|
Designation
of contact person |
Yes |
|
Turnover
of firm for last three years |
Yes |
|
Profitability
for last three years |
Yes |
|
Reasons
for variation <> 20% |
Yes |
|
Estimation
for coming financial year |
Yes |
|
Capital
the business |
Yes |
|
Details
of sister concerns |
Yes |
|
Major
Suppliers |
Yes |
|
Major
Customers |
Yes |
|
Payment
Terms |
Yes |
|
Export
/ Import Details [If Applicable] |
Yes |
|
Market
Information |
- |
|
Litigations
that the firm / promoter involved in |
- |
|
Banking
Details |
Yes |
|
Banking
Facility Details |
Yes |
|
Conduct
of the banking account |
- |
|
Buyer
visit details |
- |
|
Financials,
if provided |
Yes |
|
Incorporation
details, if applicable |
Yes |
|
Last
accounts filed at ROC |
Yes |
|
Major
Shareholders, if applicable |
Yes |
|
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
PAN
of Proprietor/Partner/Director, if available |
No |
|
Voter
ID No of Proprietor/Partner/Director, if available |
No |
|
External Agency
Rating, if available |
Yes |
DETAILS OF SUNDRY
CREDITORS
|
Particulars |
As
on 31.03.2011 (Rs.
in millions) |
As
on 31.03.2010 (Rs.
in millions) |
As
on 31.03.2009 (Rs.
in millions) |
|
- Micro, Small and Medium Enterprises |
0.000 |
0.000 |
0.000 |
|
-Others |
48.956 |
18.153 |
4.325 |
|
Total |
48.956 |
18.153 |
4.325 |
OPERATIONS
This is the 4th year of operation. The Company has carried
out its commercial production during the whole year which results into total turnover
of Rs.341.956 millions, as compared to last year of just Rs.120.141 millions,
which is almost three times jump over last year. The profit before Depreciation
and interest stood at Rs.45.571 millions as against last year of Rs.17.448
millions. The profit before taxation stood at Rs.6.012 millions, against last
year of Rs.1.526 millions. Due to provision of taxation including deferred
taxation, the Company has made net Profit after tax of Rs.4.998 millions, as
against of Rs.1.123 millions in the previous year. Overall the Company has
achieved very good growth at all level.
FUTURE PROSPECTS:
The Directors are expecting very good business in future as a management
drive to cut the cost the company is reducing its number of branches which will
help the company in cutting the cost in aggressive manner. Further very good
monsoon at most of the State of India and development of new products will
boost the sale and the company’s expansion projects.
FINANCE
The Company has availed additional Loan facilities by way Term Loan and
cash credit facilities, results into total limits of Rs.373.300 millions from
State Bank of
FORM 8
|
Corporate identity number of the company |
U29299GJ2008PTC053240 |
|
Name of the company |
VISHAKHA IRRIGATION PRIVATE LIMITED |
|
Address of the registered office or of the principal place of business in |
801, Samedh, E-Mail: jigishdoshi@vishakhapolyfab.com |
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
10126244 |
|
Type of charge |
Immovable property |
|
Particular of charge holder |
State Bank of India, Commercial Branch, 3rd Floor,
Paramsiddhi Complex, Opposite V.S. Hospital, Ellisbridge, Ahmedabad – 380
006, Gujarat, India E-Mail: s.pareek@sbi.co.in |
|
Nature of instrument creating charge |
Memorandum of deposit for creation extension of charge for overall
limit granted in form C.9A. |
|
Date of instrument Creating the charge |
04.02.2011 |
|
Amount secured by the charge |
Rs.373.300 millions |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
Rate of Interest 1. Cash Credit and Term Loan I: 5% above Base Rate, (2) Term Loan II: 0.50%
above SBAR and (3) Term Loan -III: 5.75% above Base Rate (Presently Base Rate
: 7.60% p.a.), all with monthly rest. Terms of Repayment 1. Cash Credit: Payable on demand 2. Term Loan III (New) of Rs.67.500 millions shall be repaid in 18
quarterly installments of Rs.3.750 millions each and shall start form 3rd
quarter of Financial year 2011-12 i.e. from December 2011 and Term Loan I of
Rs.23.500 millions repayable in 17 quarterly installments with first 3
installment of Rs.1.000 million each, next 13 installment of Rs.1.500
millions and last remaining installment of Rs.1.000 million commenced from
30.09.2009 and other term loan Margin RM/SIP/FG: 25%, Book Debt (Upto 120 days): 40%, Letter of Credit/Bank
Guarantee: 20% and New Term Loan of Rs.67.500 millions: 33.50%. Extent and Operation of the charge Exclusive First Charge of the Bank. |
|
Short particulars of the property or asset(s) charged (including
complete address and location of the property) |
Hypothecation charge over entire movable and current assets of the
company situated at Plot No. 4/B, Plot No. 2/B and 2/C of Block No.792,
Village- Bhoyan Moti, Taluka Kalol, District Gandhinagar, Enter Book Debt of the company. Immovable Properties viz. Plot No. 4/B, adm. 3612.11 sq. Mts of Block
No. 792, situated at Vilage- Bhoyan Moti, Taluka Kalol, District Gandhinagar,
Immovable Properties viz. Plot No. 2/B, adm. 2803.46 sq. Mts and Plot
No, 2/C, adm. 3344.54 sq. mtrs. of Block No. 792, situated at Vilage- Bhoyan Moti,
Taluka Kalol, District Gandhinagar, |
|
Date of last modification prior to the present modification |
22.12.2010 |
|
Particulars of the present modification |
Charge extended by way of creation of equitable mortgage by way of
constructive delivery of the title deeds over the Immovable Property of Plot
No.4/B, adm. 3612.11 sq. Mts of Block No.792, at Village- Bhoyan Moti, Tal.
Kalol, District Gandhinagar, Gujarat And actual devlivery for title deeds of
the Immovable Property at Plot No.
2/B, adm. 2803.46 sq. Mts and Plot No, 2/C, adm. 3344.54 sq. mtrs. of Block
No. 792, at Village- Bhoyan Moti,
Taluka Kalol, District Gandhinagar, Gujarat, for overall financial limit of
Rs.373.300 millions. |
FIXED ASSETS
v
v
v Computer
v Plant and Machinery
v Electrical Installation
v Furniture
v Office Equipments
v 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 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 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
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
BYI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
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 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
33 |
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.