|
Report Date : |
25.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
SAMRATH KNIT FAB |
|
|
|
|
Registered
Office : |
Main Road, Village Bhattian, G.T. Road (West), Ludhiana, Punjab |
|
|
|
|
Country : |
|
|
|
|
|
Date of
Incorporation : |
14.07.2012 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Not Available |
|
|
|
|
Legal Form : |
Partnership Concern with an unlimited liability of the partners |
|
|
|
|
Line of Business
: |
Manufacture of Fur Cloth and Textile Clothes. |
|
|
|
|
No. of Employees
: |
20 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
NB |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
- |
NB |
New Business |
- |
|
Status : |
New Concern |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a new partnership concern and yet to complete its one full
year of operation. Business is active. Payments are unknown. The concern can be considered for business dealings on a safe and
secured 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.
INFORMATION PARTED BY
|
Name : |
Mr. Sahib Jee Singh |
|
Designation : |
Partner |
|
Contact No.: |
91-9814689000 |
|
Date : |
24.09.2012 |
LOCATIONS
|
Registered / Corporate Office / Factory : |
Main Road, Village Bhattian, G.T. Road (West), Ludhiana-141003, Punjab, India |
|
Tel. No.: |
91-161-2783323 |
|
Mobile No.: |
91-9814689000 [Mr. Sahib Jee Singh] |
|
Fax No.: |
91-161-2783757 |
|
E-Mail : |
|
|
Area : |
500 sq. ft. |
|
Location : |
Rented |
PARTNERS
|
Name : |
Mr. Sahib Jee Singh |
|
Designation : |
Partner |
|
Address : |
|
|
Date of Birth/Age : |
24 Years |
|
Experience : |
7 Years |
|
|
|
|
Name : |
Mr. Jarseet Singh |
|
Designation : |
Partner |
|
Address : |
Ludhiana, Punjab, India |
|
Date of Birth/Age : |
28 Years |
|
Experience : |
10 Years |
BUSINESS DETAILS
|
Line of Business : |
Manufacture of Fur Cloth and Textile Clothes. |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
INSTALLED CAPACITY & PRODUCTION DETAILS:
|
PARTICULARS |
FUR CLOTH |
TEXT. CLOTH |
|
Capacity per day |
6*200 Kg. per day |
2*200 Kg. per day |
|
Installed capacity
for cloth per annum |
(1200*25*12) Kg. = 360000 Kg. |
(400*25*12) Kg. 120000 Kg. |
|
Operating capacity |
50% |
-- |
|
Production per
annum at 50% per annum |
180000 Kg. |
60000 Kg. |
|
Current Year
operating for 5 months |
(180000*5/12) |
(60000*5/12) |
|
Production per
annum at 50% per annum (Taking 50%
operation for 5 months) |
75000 Kg. |
25000 Kg. |
|
Total Cloth
production per annum |
100000 Kg. |
-- |
|
The firm will work at 50%, 55%, 60% and 65% for the next 4 years. |
||
GENERAL INFORMATION
|
Customers : |
Wholesalers and Retailers |
|
|
|
|
No. of Employees : |
20 [Approximately] |
|
|
|
|
Bankers : |
State Bank of Patiala, Ludhiana, Punjab, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
B. Rattan and Associates Chartered Accountants |
|
Address : |
408-409, Mehak Tower, Kailash Cinema Road, Civil Lines, Ludhiana,
Punjab, India |
|
Tel. No.: |
91-161-2449302 |
|
Mobile No.: |
91-9814249302 |
|
Fax No.: |
91-161-2449302 |
|
|
|
|
Associates/Subsidiaries : |
Address:
Main
Jalandhar Bye Pass Road, Near Octori, Ludhiana, Punjab, India Line
of Business: Manufacture of Fur Cloth and Textile Clothes. Year
of Establishment: 01.04.1992 Banker: State Bank of
Patiala |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Not Available |
|
Borrowed : |
Not Available |
|
Total : |
Not Available |
FINANCIAL DATA
[all figures are
in Rupees Millions]
NEW CONCERN
Note : Sole Proprietory and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry.
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 |
No |
|
12] |
Profitability for last three years |
No |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
No |
|
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 |
No |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
No |
|
28] |
Incorporation details, if applicable |
No |
|
29] |
Last accounts filed at ROC |
No |
|
30] |
Major Shareholders, if available |
No |
|
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 |
No |
------------------------------------------------------------------------------------------------------------------------------
ASSESSMENT
OF WORKING CAPITAL REQUIREMENT
OPERATING
STATEMENT
(RS. IN MILLIONS)
|
Particulars |
31.03.2013 |
31.03.2014 |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(Estimated) |
(Projected) |
|||
|
|
|
|
|
|
|
|
Gross Sales |
|
|
|
|
|
|
Domestic |
20.497 |
58.745 |
64.837 |
70.785 |
76.725 |
|
Export |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Total |
20.497 |
58.745 |
64.837 |
70.785 |
76.725 |
|
|
|
|
|
|
|
|
Less: Excise Duty |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Net Sales |
20.497 |
58.745 |
64.837 |
70.785 |
76.725 |
|
|
|
|
|
|
|
|
% age rise (+) or Fall (-) in Net Sales as compared to previous
year |
0.000 |
18.661 |
1.037 |
0.917 |
0.839 |
|
|
|
|
|
|
|
|
COST
OF SALES |
|
|
|
|
|
|
|
|
|
|
|
|
|
Raw Material (Including Stored and Other items used in the process of Manufacture) |
|
|
|
|
|
|
Imported |
0.0000 |
0.0000 |
0.0000 |
0.0000 |
0.0000 |
|
Indigenous |
14.728 |
35.347 |
38.881 |
42.416 |
45.951 |
|
|
|
|
|
|
|
|
Others (Consumable) |
|
|
|
|
|
|
Imported |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Indigenous |
0.123 |
0.294 |
0.323 |
0.353 |
0.382 |
|
|
|
|
|
|
|
|
Power and Fuel |
0.108 |
0.259 |
0.285 |
0.311 |
0.337 |
|
Direct Labour (Factory Wages and Salary) |
0.288 |
0.690 |
0.759 |
0.835 |
0.918 |
|
Other Manufacturing Expenses |
5.000 |
12.000 |
13.200 |
14.400 |
15.600 |
|
Depreciation |
1.862 |
1.582 |
1.344 |
1.144 |
0.972 |
|
|
|
|
|
|
|
|
Sub Total |
22.108 |
50.172 |
54.793 |
59.459 |
64.160 |
|
|
|
|
|
|
|
|
Add: Opening Stock in Process |
0.000 |
1.053 |
1.045 |
1.140 |
1.237 |
|
|
|
|
|
|
|
|
Sub
Total |
22.108 |
51.225 |
55.838 |
60.599 |
65.397 |
|
|
|
|
|
|
|
|
Deduct : Closing Stock in Process |
1.053 |
1.045 |
1.140 |
1.237 |
1.335 |
|
|
|
|
|
|
|
|
Cost
of Production |
21.055 |
50.180 |
54.698 |
59.362 |
64.062 |
|
|
|
|
|
|
|
|
Add : Opening Stock of Finished Goods |
0.000 |
2.746 |
3.113 |
3.401 |
3.692 |
|
|
|
|
|
|
|
|
Sub
Total |
21.055 |
52.926 |
57.811 |
62.763 |
67.754 |
|
|
|
|
|
|
|
|
Less: Closing Stock of Finished Goods |
2.746 |
3.113 |
3.401 |
3.692 |
3.986 |
|
|
|
|
|
|
|
|
Sub Total (Total
Cost of Sales) |
18.309 |
49.813 |
54.410 |
59.071 |
63.768 |
|
|
|
|
|
|
|
|
% |
89.32 |
84.79 |
83.92 |
83.45 |
83.11 |
|
|
|
|
|
|
|
|
Selling, General and Administrative
Expenses |
0.615 |
5.669 |
6.646 |
7.786 |
8.133 |
|
|
|
|
|
|
|
|
Sub total |
18.924 |
55.482 |
61.056 |
66.857 |
71.901 |
|
|
|
|
|
|
|
|
Operating Profit before Interests
|
1.573 |
3.263 |
3.781 |
3.928 |
4.824 |
|
|
|
|
|
|
|
|
Interests |
1.194 |
2.307 |
2.220 |
2.113 |
1.982 |
|
|
|
|
|
|
|
|
Operating Profit After Interests
|
0.379 |
0.956 |
1.561 |
1.815 |
2.842 |
|
|
|
|
|
|
|
|
Profit before
Taxes |
0.379 |
0.956 |
1.561 |
1.815 |
2.842 |
|
|
|
|
|
|
|
|
Less: Tax Provision |
0.002 |
0.038 |
0.131 |
0.161 |
0.338 |
|
|
|
|
|
|
|
|
Net Profit After Tax |
0.377 |
0.918 |
1.431 |
1.653 |
2.504 |
|
|
|
|
|
|
|
|
Withdrawls |
0.000 |
0.200 |
0.300 |
0.300 |
0.300 |
|
|
|
|
|
|
|
|
Retained Profit |
0.377 |
0.718 |
1.131 |
1.353 |
2.204 |
|
|
|
|
|
|
|
|
Retained Profit/
Net profit (% age) |
10.000 |
7.822 |
7.903 |
8.185 |
8.802 |
------------------------------------------------------------------------------------------------------------------------------
ANALYSIS
OF BALANCE SHEET
(RS. IN MILLIONS)
|
Particulars |
31.03.2013 |
31.03.2014 |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(Estimated) |
(Projected) |
|||
|
|
|
|
|||
|
CURRENT
LIABILITIES |
|
|
|
|
|
|
Short – Term borrowings from banks [including bill
purchased, discounted and excess borrowings placed on repayment basis] |
|
|
|
|
|
|
From applicant Banks |
6.000 |
6.500 |
7.000 |
7.500 |
8.000 |
|
From Other Banks |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Of which BP and BD |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Sub
Total (A) |
6.000 |
6.500 |
7.000 |
7.500 |
8.000 |
|
|
|
|
|
|
|
|
Short Term Borrowings from others |
|
|
|
|
|
|
Sundry creditors [Trade] |
0.736 |
0.736 |
0.810 |
0.884 |
0.957 |
|
Sundry creditors [Expenses] |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Advance payments from customers/ deposits from dealers |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Provision of taxes |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Dividend Payable |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Other Statutory Liabilities (Due within one year) |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Deposits/ Installments of Term/ loans/DPGs/Debentures etc. (Due within one year) |
0.996 |
1.210 |
1.210 |
1.667 |
1.667 |
|
Other current liabilities and provision (Due within one year) |
0.200 |
0.200 |
0.200 |
0.200 |
0.200 |
|
|
|
|
|
|
|
|
Sub
– Total (B) |
1.932 |
2.146 |
2.220 |
2.751 |
2.824 |
|
|
|
|
|
|
|
|
Total
Current Liabilities |
7.932 |
8.646 |
9.220 |
10.251 |
10.824 |
|
|
|
|
|
|
|
|
TERM
LIABILITIES |
|
|
|
|
|
|
|
|
|
|
|
|
|
Debentures (Not Maturing within one year) |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Preferences Shares (Redeemable after one year) |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Term Loans (Excluding Installment) |
8.254 |
7.044 |
5.835 |
4.168 |
2.501 |
|
|
|
|
|
|
|
|
Deferred Installment (Due within one year) |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Term deposit (repayable one year |
1.500 |
1.500 |
1.500 |
1.500 |
1.500 |
|
Other Term Liabilities |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Total
Term Liabilities |
9.754 |
8.544 |
7.335 |
5.668 |
4.001 |
|
Total
of Outside Liabilities |
17.686 |
17.190 |
16.554 |
15.919 |
14.825 |
|
|
|
|
|
|
|
|
Net Worth |
|
|
|
|
|
|
Share Capital Account |
3.500 |
3.500 |
3.500 |
3.500 |
3.500 |
|
General Reserve |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Shares Premium Account |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Plus (+) or deficit (-) in Profit and Loss Account others (Specify) |
0.377 |
1.096 |
2.226 |
3.579 |
5.784 |
|
Differed Tax Liability |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Net Worth |
3.877 |
4.596 |
5.726 |
7.079 |
9.284 |
|
|
|
|
|
|
|
|
TOTAL LIABILITIES |
21.563 |
21.786 |
22.281 |
22.998 |
24.108 |
|
|
|
|
|
|
|
|
ASSETS |
|
|
|
|
|
|
CURRENT
ASSETS |
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and Bank Balance |
0.310 |
0.509 |
0.517 |
0.750 |
1.200 |
|
|
|
|
|
|
|
|
Fixed deposit with bank |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Receivable Other than Exports |
3.075 |
3.672 |
4.052 |
4.424 |
4.795 |
|
|
|
|
|
|
|
|
Installment of deferred receivable (due within one year) |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVENTORY: |
|
|
|
|
|
|
Raw materials
(including stores and other item used in the process of manufacturing) |
|
|
|
|
|
|
Imported |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Indigenous |
3.682 |
3.682 |
4.050 |
4.418 |
4.787 |
|
|
|
|
|
|
|
|
Stock – in – process |
1.053 |
1.045 |
1.140 |
1.237 |
1.335 |
|
Finished Goods |
2.746 |
3.113 |
3.401 |
3.692 |
3.986 |
|
|
|
|
|
|
|
|
Other Consumable Spares |
|
|
|
|
|
|
Imported Consumables |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Indigenous Consumables |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Advance to Suppliers of Raw materials and stores and
spares |
0.000 |
0.500 |
1.000 |
1.500 |
2.000 |
|
Advances Payments Taxes |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Other current assets |
0.150 |
0.300 |
0.500 |
0.500 |
0.500 |
|
|
|
|
|
|
|
|
TOTAL
CURRENT ASSETS |
11.016 |
12.821 |
14.660 |
16.521 |
18.603 |
|
|
|
|
|
|
|
|
FIXED
ASSETS |
|
|
|
|
|
|
Gross Block |
12.409 |
10.547 |
8.965 |
7.621 |
6.477 |
|
Depreciation to date |
1.862 |
1.582 |
1.344 |
1.144 |
0.972 |
|
|
|
|
|
|
|
|
NET
BLOCK |
10.547 |
8.965 |
7.621 |
6.477 |
5.505 |
|
|
|
|
|
|
|
|
Investment/ books debts/ advances/ exposits which are not
current assets |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Investment in subsidiary company |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Others Investment |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Others
Debtors (6 month) |
|
|
|
|
|
|
Security Deposits |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Others |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL
OTHER NON – CURRENT ASSETS |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Intangible assets |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL
ASSETS |
21.563 |
21.786 |
22.281 |
22.998 |
24.108 |
|
|
|
|
|
|
|
|
Tangible Net Worth |
3.877 |
4.596 |
5.726 |
7.079 |
9.284 |
|
|
|
|
|
|
|
|
Net Working Capital |
3.084 |
4.175 |
5.440 |
6.270 |
7.779 |
|
|
|
|
|
|
|
|
Current Ratio |
0.139 |
0.148 |
0.159 |
0.161 |
0.172 |
|
|
|
|
|
|
|
|
Total Outside Liabilities/ Tangible Net Worth |
0.456 |
0.374 |
0.289 |
0.225 |
0.160 |
------------------------------------------------------------------------------------------------------------------------------
COMPARATIVE
STATEMENT OF CURRENT ASSETS AND CURRENT LIABILITIES
(RS. IN MILLIONS)
|
Particulars |
31.03.2013 |
31.03.2014 |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(Estimated) |
(Projected) |
|||
|
|
|
|
|
|
|
|
Raw Materials (Including Stores, and Other
Items used in the Process of Manufacture)
|
|
|
|
|
|
|
[a] Imported |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Months Consumption |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
[b] Indigenous |
3.682 |
3.682 |
4.050 |
4.418 |
4.787 |
|
Months Consumption |
0.175 |
0.125 |
0.125 |
0.125 |
0.125 |
|
|
|
|
|
|
|
|
Other consumable spares, Excluding those
included 1 above |
|
|
|
|
|
|
[a] Imported |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Months Consumption |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
[b] Indigenous |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Months Consumption |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Stock in process |
1.053 |
1.045 |
1.140 |
1.237 |
1.335 |
|
Months cost of production |
0.035 |
0.025 |
0.025 |
0.025 |
0.025 |
|
|
|
|
|
|
|
|
Finished goods |
2.746 |
3.113 |
3.401 |
3.692 |
3.986 |
|
Months cost of sales |
0.105 |
0.075 |
0.075 |
0.075 |
0.075 |
|
|
|
|
|
|
|
|
Receivable other than export and deferred
receivables [including bills purchased and discounted by bankers] |
3.075 |
3.672 |
4.052 |
4.424 |
4.795 |
|
Months domestic sales |
0.105 |
0.075 |
0.075 |
0.075 |
0.075 |
|
|
|
|
|
|
|
|
Export receivables [including bills
purchased and discounted by bankers months export sales] |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Advances to suppliers of raw materials and
stores/ spares consumable |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Other current Assets including cash and bank
balances and deferred receivable due within one year |
0.460 |
0.809 |
1.017 |
1.250 |
1.700 |
|
|
|
|
|
|
|
|
TOTAL CURRENT ASSETS |
11.016 |
12.821 |
14.660 |
16.521 |
18.603 |
|
|
|
|
|
|
|
|
B CURRENT LIABILITIES |
|
|
|
|
|
|
[Other than bank borrowing for working
capital] |
|
|
|
|
|
|
|
|
|
|
|
|
|
Creditors for purchases of raw materials and
stores and consumable spares |
0.736 |
0.736 |
0.810 |
0.884 |
0.957 |
|
Months Purchases |
0.035 |
0.025 |
0.025 |
0.025 |
0.025 |
|
|
|
|
|
|
|
|
Credit for than Suppliers |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Advances from customers |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Statutory liabilities |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Other current liability including short term
borrowing dividend payable, installment of DPG public deposit, debentures etc
|
1.196 |
1.410 |
1.410 |
1.867 |
1.867 |
|
|
|
|
|
|
|
|
TOTAL |
1.932 |
2.146 |
2.220 |
2.751 |
2.824 |
------------------------------------------------------------------------------------------------------------------------------
COMPUTATION
OF MAXIMUM PERMISSIBLE BANK FINANCE FOR WORKING CAPITAL
(RS IN MILLIONS)
|
Particulars |
31.03.2013 |
31.03.2014 |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(Estimated) |
(Projected) |
|||
|
|
|
|
|||
|
FIRST METHOD OF LENDING |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Current Assets |
11.016 |
12.821 |
14.660 |
16.521 |
18.603 |
|
|
|
|
|
|
|
|
Other Current Liabilities (Other than bank borrowings) |
1.932 |
2.146 |
2.220 |
2.751 |
2.824 |
|
|
|
|
|
|
|
|
Working Capital Gap (WCG) |
9.084 |
10.675 |
12.440 |
13.770 |
15.779 |
|
|
|
|
|
|
|
|
Minimum stipulated net working capital i.e. 25%
of WCG/ 25% of total current assets as the case may be depending upon the
method of lending being applied (Export receivables to be excluded under both
methods) |
2.754 |
3.205 |
3.665 |
4.130 |
4.651 |
|
|
|
|
|
|
|
|
Actual / projected net working capital |
3.084 |
4.175 |
5.440 |
6.270 |
7.779 |
|
|
|
|
|
|
|
|
Item 3 minus item 4 |
6.330 |
7.470 |
8.775 |
9.640 |
11.128 |
|
|
|
|
|
|
|
|
Item 3 minus item 5 |
6.000 |
6.500 |
7.000 |
7.500 |
8.000 |
|
|
|
|
|
|
|
|
Maximum permissible bank finance (Item 6 or 7 whichever is lower) |
6.000 |
6.500 |
7.000 |
7.500 |
8.000 |
|
|
|
|
|
|
|
|
Excess Borrowing Representing Short falling
NWC |
-- |
-- |
-- |
-- |
-- |
------------------------------------------------------------------------------------------------------------------------------
BREAKEVEN
POINT CALCULATION
(RS IN MILLIONS)
|
Particulars |
31.03.2013 |
31.03.2014 |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(Estimated) |
(Projected) |
|||
|
|
|
|
|||
|
Sales |
20.497 |
58.745 |
64.837 |
70.785 |
76.725 |
|
|
|
|
|
|
|
|
Increase / Decrease in Stocks |
3.799 |
0.359 |
0.383 |
0.388 |
0.392 |
|
|
|
|
|
|
|
|
Raw Material Consumed (100%) |
14.728 |
35.347 |
38.881 |
42.416 |
45.951 |
|
|
|
|
|
|
|
|
Consumables (100%) |
0.123 |
0.294 |
0.323 |
0.353 |
0.382 |
|
|
|
|
|
|
|
|
Power & Fuel (75%) |
0.081 |
0.194 |
0.214 |
0.233 |
0.253 |
|
|
|
|
|
|
|
|
Labour (100%) |
0.288 |
0.690 |
0.759 |
0.835 |
0.918 |
|
|
|
|
|
|
|
|
Other Mfg. Expenses (90%) |
4.500 |
10.800 |
11.880 |
12.960 |
14.040 |
|
|
|
|
|
|
|
|
Interest Costs |
0.331 |
0.861 |
0.928 |
0.994 |
1.060 |
|
|
|
|
|
|
|
|
Admn. & Selling Costs (50%) |
0.307 |
2.834 |
3.323 |
3.893 |
4.066 |
|
|
|
|
|
|
|
|
TOTAL VARIABLE
COSTS |
20.358 |
51.020 |
56.309 |
61.684 |
66.670 |
|
|
|
|
|
|
|
|
CONTRIBUTION |
3.938 |
8.085 |
8.911 |
9.489 |
10.447 |
|
|
|
|
|
|
|
|
FIXED EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest Costs |
0.863 |
1.446 |
1.292 |
1.119 |
0.922 |
|
|
|
|
|
|
|
|
Power & Fuel (25%) |
0.027 |
0.065 |
0.071 |
0.078 |
0.084 |
|
|
|
|
|
|
|
|
Direct Labour |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Other manu.exp. (10%) |
0.500 |
1.200 |
1.320 |
1.440 |
1.560 |
|
|
|
|
|
|
|
|
Admn. Cost (50%) |
0.307 |
2.834 |
3.323 |
3.893 |
4.066 |
|
|
|
|
|
|
|
|
Depreciation |
1.862 |
1.582 |
1.344 |
1.144 |
0.972 |
|
|
|
|
|
|
|
|
Insurance |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
3.559 |
7.127 |
7.350 |
7.674 |
7.604 |
|
|
|
|
|
|
|
|
NET PROFIT (PBT) |
0.380 |
0.958 |
1.561 |
1.815 |
2.843 |
|
|
|
|
|
|
|
|
BREAK EVEN POINT
% |
90.35 |
88.16 |
82.48 |
80.87 |
72.79 |
|
|
|
|
|
|
|
|
BREAK EVEN POINT |
45.18 |
44.08 |
45.36 |
48.52 |
47.31 |
------------------------------------------------------------------------------------------------------------------------------
PROJECTED CASH FLOW STATEMENT
(RS. IN MILLIONS)
|
Particulars |
2012-13 |
2013-14 |
2014-15 |
2015-16 |
2016-17 |
|
|
(Projected) |
||||
|
A. SOURCES OF FUNDS |
|
|
|
|
|
|
Profit Before Tax & Interest |
1.573 |
3.263 |
3.781 |
3.928 |
4.824 |
|
Capital |
3.500 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Proposed Term Loan |
9.250 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Depreciation |
1.862 |
1.582 |
1.344 |
1.144 |
0.972 |
|
Increase in Borrowing Working Capital |
6.000 |
0.500 |
0.500 |
0.500 |
0.500 |
|
Unsecured Loan |
1.500 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Increase in Current Liabilities |
0.936 |
0.000 |
0.074 |
0.074 |
0.073 |
|
|
|
|
|
|
|
|
Total (A) |
24.621 |
5.345 |
5.699 |
5.646 |
6.369 |
|
|
|
|
|
|
|
|
B. APPLICATION OF FUNDS |
|
|
|
|
|
|
Other Non Current Assets |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Capital Expenditure |
12.409 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Interest |
1.194 |
2.307 |
2.220 |
2.113 |
1.982 |
|
Tax |
0.002 |
0.038 |
0.131 |
0.161 |
0.338 |
|
Drawing |
0.000 |
0.200 |
0.300 |
0.300 |
0.300 |
|
Increase in Current Assets |
10.706 |
1.606 |
1.831 |
1.628 |
1.632 |
|
Decrease in Term Loans |
0.000 |
0.996 |
1.210 |
1.210 |
1.667 |
|
|
|
|
|
|
|
|
Total (B) |
24.311 |
5.147 |
5.691 |
5.412 |
5.919 |
|
|
|
|
|
|
|
|
Surplus/ Deficit (A-B) |
0.310 |
0.198 |
0.008 |
0.234 |
0.450 |
|
|
|
|
|
|
|
|
Opening Balance |
0.000 |
0.310 |
0.509 |
0.517 |
0.750 |
|
|
|
|
|
|
|
|
Closing Balance |
0.310 |
0.509 |
0.517 |
0.750 |
1.200 |
------------------------------------------------------------------------------------------------------------------------------
COST OF PROJECT
(RS. IN MILLIONS)
|
Particular |
Existing |
Proposed |
Total |
|
Building |
0.000 |
0.000 |
0.000 |
|
Plant and
Machinery |
0.000 |
12.359 |
12.359 |
|
Other Assets |
0.000 |
0.050 |
0.050 |
|
Margin For
Working Capital |
0.000 |
1.841 |
1.841 |
|
|
|
|
|
|
TOTAL |
0.000 |
14.250 |
14.250 |
|
|
|
|
|
|
Partners Capital
|
0.000 |
3.500 |
3.500 |
|
Unsecured
Loans/Ltd’s |
0.000 |
1.500 |
1.500 |
|
Term Loan |
0.000 |
9.250 |
9.250 |
|
|
|
|
|
|
TOTAL |
0.000 |
14.250 |
14.250 |
|
Promoter’s
Contribution % : 35.09 |
|||
|
Debt Equity
Ratio : 1.85 : 1 |
|||
------------------------------------------------------------------------------------------------------------------------------
DETAILS OF THE
PROJECT
The respective estimates of Expenses for the next 8 years are as follows.
RAW MATERIAL:-
The main Raw material for Fur Cloth is Polyester Yarn which is easily available at Ludhiana. It will also be purchased from Silwasa (Gujarat).The cost of Polyester yarn is taken at Rs.120/- per Kg. and wastage is taken at 5%.By Operating at 50% capacity and working for 5 months, Total consumption of polyester yarn will be 78750 Kg.(75000*1050/1000) and Cost Rs. 9.450 Millions for the year ending 31.03.2013.
The main Raw material for Textile Cloth is Cotton Yarn which is easily available at Ludhiana. The cost of Cotton yarn is taken at Rs.190/- per Kg. and wastage is taken at 10%.By Operating at 50% capacity and working for 5 months, Total consumption of Cotton yarn will be 27778 Kg.(25000*1111.11/1000) and Cost Rs.5.278 Millions.
So that Total cost of Raw Material will be Rs.14.728 Millions for the year ending 31.03.2013.
CONSUMABLE SPARES:-
It includes needles per machine Rs.0.060 Millions per annum and it becomes Rs.0.480 Million for 8 machines. It also includes Lubricants assuming consumption of 3 Liters per day and rate per liters Rs.120 and assuming 300 working days, it becomes Rs.0.108 Million per annum so that at 100% capacity, Total consumables will be Rs.0.588 Million. Assuming operating at 50% capacity and working for 5 months in the year ending 31.03.2013 it will become Rs.0.123 Million and for full year Rs.0.294 Million for the year ending 31.03.2014.
POWER AND FUEL:-
The firm is located at rented premises and assuming 15 KW requirements. By taking 3 shifts of 8 Hours each and assuming 300 days in the year, Loading factor 0.80 and rate per unit Rs.6.00,the Power consumption will be as follows:
(50% of existing capacity and for 5 months working)
Power consumption=15*3*8*300*0.80*6.00*50%*5/12= 1.08 Lac.
WAGES:-
The firm will employ 1 Supervisor, 3 Skilled Workers and 5 unskilled workers. Total cost of these workers will be Rs.0.690 Million per annum and it will be Rs. 0.288 Million for the year ending 31.03.2013 for 5 months and for full year Rs. 0.690 Million for the year ending 31.03.2014. 10% increment has been taken for the next years.
OTHER MANUFACTURING EXPENSES:-
It is assumed that average rate of Dyeing processing and finishing will be Rs.50 per kg. and total Manufacturing expenses at 100% capacity becomes(480000*50/100000)=Rs.240.00 Lac. By operating at 50% capacity and working for 5 months, it will become Rs.5.000 Millions for the year ending 31.03.2013 and for full year Rs. 12.000 Millions for the year ending 31.03.2014.
DEPRECIATION:-
Depreciation has been provided at WDV rates as per income
tax act 1961.It will be Rs.1.862 Millions for the year ended 31.03.2013 and Rs.
1.582 Millions for the year ended 31.03.2014.
SELLING GENERAL AND ADMINISTRATION EXPENSES:-
In the projection we have taken it as 3.00% keeping in mind the selling and admn. Expenses in the year ending 31.03.2013 for 5 months, it will become Rs.0.615 Million. It will increase to Rs.566.900 Millions for the year ending 31.03.2014.
SALES PROJECTIONS
Projected sales for the year ending 31.03.2013 at 50% capacity will be
as follows:
FUR CLOTH SALE
Total production of Fur cloth will be 75000 Kgs, after considering
opening and closing stocks of Fur Cloth, Saleable production will become
62111.80 Kgs. Average sale price is taken at Rs.220 per kg. So that total sale
of Fur cloth will be as follows:
Total saleable production: 62111.80 Kgs.
Rate per Kg.: Rs.220/-
Sales Fur Cloth
(31.03.2013): Rs. 13.665 Millions.
TEXT. CLOTH SALE
Total production of Text. Cloth will be 25000 kgs, after considering
opening and closing stocks of Text. Cloth, Saleable production will become
20703.93 Kgs. Average sale price is taken at Rs.330 per kg. so that total sale
of Text. cloth will be as follows:
Total saleable production: 20703.93
Kgs.
Rate per Kg.: Rs.330/-
Sales Text. Cloth
(31.03.2013): Rs. 6.832 Millions.
Grand Total (Fur
Cloth and Text. Cloth) = (13.665 Millions + 6.832 Millions) = Rs. 20.497
Millions.
DETAIL
OF NEW MACHINERY TO BE INSTALLED
|
PARTICULARS |
NO.OF MACHINES |
RATE PER MACHINE |
AMOUNT (IN MILLIONS) |
|
SENHER HIGH
SPEED PLIE LOOP KNITTING MACHINE |
6 |
25000USD *56=1400000 ADD:FREIGHT and DUTY
4% EXTRA |
8.400 0.336 |
|
TARRY CIRCULAR
KNITTING MACHINE |
2 |
1500000 |
3.000 |
|
GEN SET 62.5 KVA |
1 |
440000 VAT 60500 |
0.500 |
|
8 Stitching
Machines |
8 |
As per Quotation |
0.122 |
|
|
GRAND TOTAL |
|
12.359 |
These 8 Stitching machines
will be used in sewing of Blankets by the firm.
BRIEF PROFILE OF
FAMILY BUSINESS (SAHIB SYNTHETICS)
This firm has been established in the year 1992.This unit is engaged in the manufacturing of Mink blankets, Quilts, Home furnishing products, Knitted Cloth and other fancy woolen cloth like fur cloth. This unit is situated on the land Msg.4.50 Acres situated at Main Jalandhar Bye Pass Road, Near Octori, Adjoining Duke. The present market value of machinery installed in this unit is more than 8 Crore. This is a partnership firm established on dated 01-04-1992 having following four partners:
They are dealing with State Bank of Patiala. They have total worth more than 500.0000 Millions. This firm is availing limit Rs 50.000 Millions.
This firm has purchased state of the art printing machine in the year 2004-05. This is the only machine in Punjab. There are only ten machines in India.
The firm has made sales Rs.270.000 Millions and earned net profit of Rs.3.566 Millions for the year ending 31.03.2012.
The main objective of the firm is to manufacture Fur Cloth and Textile cloth.
BRIEF PROFILE OF
SAMRATH KNIT FAB
This firm has recently been established on 14.07.2012.This unit has the main objective of manufacturing of Fur cloth and Textile Cloth. This unit is situated on the Rented Premises situated at Main Road Village Bhattian G.T. Road West Ludhiana. This is a partnership firm having the following two partners:
MARKETING
ARRANGEMENTS:-
Due to our family business, they have good rapport with the customers
and suppliers of this trade. their production will be of high quality at
reasonable prices. With the increase in population, demand of cloth has increased, with
the increase in the standard of living of the people of India. The per capita income in the Punjab is
highest in the country. Presently, major demand of the fabric is being made
from circular knitting machines. Ludhiana is developed a major center for
Hosiery Goods and most of the units situated in Ludhiana are doing well. The
firm will sell fur cloth at Ludhiana, Delhi and Panipat. The Textile cloth will
be sold at Ludhiana, Jammu, Delhi and Panipat. Keeping in view of the above it
is expected that firm may not face any problem regarding the marketing of its
product though item is quite competitive. Ludhiana is Manchester of India in
Hosiery products.
BRIEF PROFILE OF
PARTNERS
JARSEET SINGH S/O
SH.PARAMJIT SINGH
S. Jarseet Singh is Graduate in Arts. He is 28 year old. He is a partner in Samrath Knit Fab. He has 10 years experience in her father’s business in the name and style of M/s Sahib Synthetics. He is a young, energetic and hard working. He is also a member of Sutlej Club Ludhiana which is the most reputed club of Ludhiana City. He has the overall control of the business.
SAHIB JEE SINGH
S/O SH.AMARJIT SINGH
S. Sahib Jee Singh is MBA. He is 24 year old. He is a partner in Samrath Knit Fab. He has 7 years experience in her father’s business in the name and style of M/s Sahib Synthetics. He will look after the marketing department of the factory. He is very honest and energetic businessman. He will prove to be an asset for this firm.
NET
WORTH STATEMENT OF S. JARSEET SINGH S/O SH. PARAMJIT SINGH AS ON 31.03.2012
|
PARTICULARS |
AMOUNT(RS.IN MILLIONS) |
|
ASSETS A.IMMOVABLE
ASSETS |
0.00 |
|
TOTAL(A) |
0.00 |
|
B.MOVEABLE
ASSETS CASH
and BANK BALANCE LOAN
IN M/S.SAHIB SYNTHETICS JEWELLERY
and OTHER HOUSEHOLDS |
0.100 0.290 0.200 |
|
TOTAL(B) |
0.590 |
|
TOTAL
ASSETS(A+B) |
0.590 |
|
C.LIABILITIES
CASH CREDIT LIMIT(SBI) |
0.000 |
|
TOTAL(C) |
0.000 |
|
NET
WORTH(A+B-C) |
0.590 |
NET
WORTH STATEMENT OF S.SAHIB JEE SINGH S/O SH. AMARJIT SINGH AS ON 31.03.2012
|
PARTICULARS |
AMOUNT(RS.IN MILLIONS) |
|
ASSETS A.IMMOVABLE
ASSETS |
0.000 |
|
TOTAL(A) |
0.000 |
|
B.MOVEABLE
ASSETS CASH
and BANK BALANCE LOAN
IN M/S.SAHIB SYNTHETICS JEWELLERY
and OTHER HOUSEHOLDS |
0.125 0.489 0.150 |
|
TOTAL(B) |
0.764 |
|
TOTAL
ASSETS(A+B) |
0.764 |
|
C.LIABILITIES
CASH CREDIT LIMIT(SBI) |
0.000 |
|
TOTAL(C) |
0.000 |
|
NET
WORTH(A+B-C) |
0.764 |
NET
WORTH STATEMENT OF S.PARAMJIT SINGH S/O SH. TARA SINGH
|
PARTICULARS |
AMOUNT(RS.IN MILLIONS) |
|
ASSETS A.IMMOVABLE
ASSETS FACTORY
LAND AND BUILDING AT G.T.ROAD WEST JALANDHAR BYE PASS ROAD LUDHIANA (1/2
SHARE) PLOT
MSG.185.16 SQ.YDS. AT G.T.ROAD WEST JALANDHAR BYE PASS ROAD LUDHIANA |
250.000 15.000 |
|
TOTAL(A) |
265.000 |
|
B.MOVEABLE
ASSETS CASH
and BANK BALANCE CAPITAL
IN M/S.SAHIB SYNTHETICS JEWELLERY
AND OTHER HOUSEHOLDS |
0.026 14.650 0.200 |
|
TOTAL(B) |
14.876 |
|
TOTAL
ASSETS(A+B) |
279.876 |
|
C.LIABILITIES
CASH CREDIT LIMIT AND MTL(SBOP) |
26.292 |
|
TOTAL(C) |
26.292 |
|
NET
WORTH(A+B-C) |
253.584 |
NET
WORTH STATEMENT OF S.AMARJIT SINGH S/O SH. TARA SINGH
|
PARTICULARS |
AMOUNT(RS.IN MILLIONS) |
|
ASSETS A.IMMOVABLE
ASSETS PLOT
MSG.185.16 SQ.YDS. AT G.T.ROAD WEST JALANDHAR BYE PASS ROAD LUDHIANA |
15.000 |
|
TOTAL(A) |
15.000 |
|
B.MOVEABLE
ASSETS CASH
and BANK BALANCE CAPITAL
IN M/S.SAHIB SYNTHETICS JEWELLERY
AND OTHER HOUSEHOLDS |
0.021 13.120 0.250 |
|
TOTAL(B) |
13.391 |
|
TOTAL
ASSETS(A+B) |
28.391 |
|
C.LIABILITIES
CASH CREDIT LIMIT AND MTL(SBOP) |
26.292 |
|
TOTAL(C) |
26.292 |
|
NET
WORTH(A+B-C) |
2.099 |
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.53.29 |
|
|
1 |
Rs.86.44 |
|
Euro |
1 |
Rs.68.95 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
TPT |
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.