MIRA
INFORM REPORT
|
Report Date : |
26.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
MARUDHAR INDUSTRIES LIMITED |
|
|
|
|
Registered
Office : |
611, G.I.D.C Phase, IV Vatva Industrial Estate, Vatva,
Ahmedabad-382445, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
18.05.1983 |
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Com. Reg. No.: |
04-022203 |
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Capital
Investment / Paid-up Capital : |
Rs.36.856
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L91110GJ1983PLC022203 |
|
|
|
|
IEC No.: |
0895003236 |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMM00060E |
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PAN No.: [Permanent Account No.] |
AABCM4070C |
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Legal Form : |
A Public Limited Liability Company. The Company’s shares are listed on
Stock Exchange. |
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Line of Business
: |
The Company is
engaged in manufacturing of Aluminium Foils, Strips, Sheets, Coils and Manufacturing
Plastic Films, Laminated Printed, Pouch and Laminated Printed Films. |
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|
|
|
No. of Employees
: |
150 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 670000 |
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to
be usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village farming,
modern agriculture, handicrafts, a wide range of modern industries, and a
multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis - in large part because of strong domestic demand - and growth
exceeded 8% year-on-year in real terms. However, India's economic growth in
2011 slowed because of persistently high inflation and interest rates and
little progress on economic reforms. High international crude prices have
exacerbated the government's fuel subsidy expenditures contributing to a higher
fiscal deficit, and a worsening current account deficit. Little economic reform
took place in 2011 largely due to corruption scandals that have slowed
legislative work. India's medium-term growth outlook is positive due to a young
population and corresponding low dependency ratio, healthy savings and
investment rates, and increasing integration into the global economy. India has
many long-term challenges that it has not yet fully addressed, including
widespread poverty, inadequate physical and social infrastructure, limited
non-agricultural employment opportunities, scarce access to quality basic and
higher education, and accommodating rural-to-urban migration.
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
BBB- (Long Term Fund Based Limits) (Revised from BB+) |
|
Rating Explanation |
Moderate Degree of safety and moderate credit risk. |
|
Date |
February 2011 |
|
Rating Agency Name |
ICRA |
|
Rating |
A3 (Short Term Non-fund Based Limits) (Revised from A4+) |
|
Rating Explanation |
Moderate Degree of safety and higher credit risk. |
|
Date |
February 2011 |
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 DECLINED BY
Management non cp-o-operative
LOCATIONS
|
Registered Office : |
611, G.I.D.C Phase, IV Vatva Industrial Estate, Vatva,
Ahmedabad-382445, |
|
Tel. No.: |
91-79-25890768 |
|
Mobile No.: |
91-9824096961 (Mr. Prakash Jain) 91-9374696960 (Mr. Vinod Jain) |
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Fax No.: |
91-79-25890768 |
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E-Mail : |
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Website : |
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Location : |
Owned |
|
|
|
|
Factory : |
711- Phase IV, Vatva, Ahmedabad-382445, |
|
Tel. No.: |
91-79-25890768/ 25895172 |
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Fax No.: |
91-79-25890768 |
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E-Mail : |
|
|
Location : |
Owned |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Prakashraj Sheshmalji Jain |
|
Designation : |
Director |
|
Address : |
33, |
|
Date of Birth/Age : |
07.07.1956 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
26.09.2000 |
|
Voter ID No.: |
DDV7286693 |
|
Din No.: |
00435076 |
|
|
|
|
Name : |
Mr. Ugamraj Mishrimal Hundia |
|
Designation : |
Director |
|
Address : |
32-B, Sthankvasi Jain Society, Usmanpura, Ahmedabad-380013, |
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Date of Birth/Age : |
08.04.1955 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
28.05.1995 |
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PAN No.: |
ACLPJ9252A |
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Din No.: |
00435229 |
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|
|
|
Name : |
Mr. Naresh Santoshkumar Jain |
|
Designation : |
Director |
|
Address : |
10/11, Rajendra Vihar, 4, Shrimali Society, Navrangpura,
Ahmedabad-380009, Gujarat, India |
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Date of Birth/Age : |
24.07.1980 |
|
Qualification : |
MBA |
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Date of Appointment : |
01.08.2001 |
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PAN No.: |
ACNPJ0818Q |
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Din No.: |
00714499 |
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|
|
|
Name : |
Mr. Bhavesh Santoshkumar Jain |
|
Designation : |
Whole Time Director |
|
Address : |
10/11, Rajendra Vihar, 4, Shrimali Society, Navrangpura,
Ahmedabad-380009, Gujarat, India |
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Date of Birth/Age : |
04.09.1984 |
|
Date of Appointment : |
15.05.2010 |
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PAN No.: |
AFFPJ0933D |
|
Din No.: |
03091444 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
Note: Equity Shareholder details
file attach.
AS ON 30.09.2011
|
Names of Shareholders |
No. of
Preferences Shares |
|
10% Non Cumulative Redeemable Preference Shares |
|
|
Arun Bhandari |
2500 |
|
Mamta Bhandari |
2000 |
|
Padma Bhandari |
1000 |
|
Laherchand Jain |
1450 |
|
Prabh P. Lodha |
1500 |
|
TOTAL
(A) |
8450 |
|
7% Non Cumulative Redeemable Preference Shares |
|
|
Naresh Santoshkumar Jain |
50000 |
|
Interlink Financial Services Limited, India |
50000 |
|
Pet Plastic Limited, India |
50000 |
|
TOTAL
(B) |
150000 |
|
11% Non Cumulative Redeemable Preference Shares |
|
|
Naresh Santoshkumar Jain |
2030 |
|
Bhavesh Santoshkumar Jain |
2030 |
|
Pradeep Lodha |
1000 |
|
Pramila Lodha |
500 |
|
TOTAL
(C) |
5560 |
|
TOTAL
(A+B+C) |
164010 |
AS ON 30.09.2011
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Bodies
corporate |
0.73 |
|
Directors
or relatives of directors |
74.00 |
|
Other
top fifty shareholders |
18.50 |
|
Others
|
6.77 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is
engaged in manufacturing of Aluminium Foils, Strips, Sheets, Coils and
Manufacturing Plastic Films, Laminated Printed, Pouch and Laminated Printed
Films. |
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Products : |
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PRODUCTION STATUS [AS ON 31.03.2011]
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Aluminium Foils, Strips, Sheets, Laminated Foils, Strips Blister Foils
and Ingots |
M. Ton |
5000 |
3853 |
|
Plastic and Printed Films |
M. Ton |
3500 |
2761 |
GENERAL INFORMATION
|
No. of Employees : |
150 [Approximately] |
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Bankers : |
Oriental Bank of Commerce, |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
Mehta Lodha and Company Chartered Accountant |
|
Address : |
105, Sakar-1, 1st Floor, Opposite Gandhigram Railway
Station, Off |
|
Tel. No.: |
91-79-26586683/ 85 |
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Fax No.: |
91-79-26586684 |
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Pan No.: |
AACFM6805H |
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|
|
|
Associates : |
Sacheta Traders
ad Engineers |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2589000 |
Equity Shares |
Rs.10/- each |
Rs. 25.890 Millions |
|
200000 |
10% Non Cumulative Redeemable Preference Shares |
Rs.100/- each |
Rs. 20.000 Millions |
|
225000 |
7% Non Cumulative Redeemable Preference Shares |
Rs.100/- each |
Rs. 22.500 Millions |
|
16100 |
11% Non Cumulative Redeemable
Preference Shares |
Rs.100/- each |
Rs. 1.610 Millions |
|
|
TOTAL
|
|
Rs. 70.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2045525 |
Equity Shares |
Rs.10/- each |
Rs. 20.455
Millions |
|
8450 |
10% Non Cumulative Redeemable Preference Shares |
Rs.100/- each |
Rs. 0.845
Million |
|
150000 |
7% Non Cumulative Redeemable Preference Shares |
Rs.100/- each |
Rs. 15.000
Millions |
|
5560 |
11% Non Cumulative Redeemable
Preference Shares |
Rs.100/- each |
Rs. 0.556
Million |
|
|
TOTAL |
|
Rs. 36.856 Millions |
AS ON 30.09.2011
Authorised Capital : Rs. 150.000
Millions
Issued, Subscribed & Paid-up Capital : Rs. 118.677 Millions
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
36.856 |
62.561 |
62.561 |
|
|
2] Share Application Money |
5.000 |
5.000 |
8.000 |
|
|
3] Reserves & Surplus |
125.813 |
87.557 |
78.681 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
167.669 |
155.118 |
149.242 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
184.731 |
100.066 |
157.653 |
|
|
2] Unsecured Loans |
64.850 |
51.000 |
48.000 |
|
|
TOTAL BORROWING |
249.581 |
151.066 |
205.653 |
|
|
DEFERRED TAX LIABILITIES |
28.118 |
26.803 |
24.433 |
|
|
|
|
|
|
|
|
TOTAL |
445.368 |
332.987 |
379.328 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
227.487 |
191.569 |
192.498 |
|
|
Capital work-in-progress |
3.747 |
3.110 |
2.280 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.974 |
1.320 |
1.321 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
156.553
|
94.957 |
95.299
|
|
|
Sundry Debtors |
161.134
|
106.649 |
99.342
|
|
|
Cash & Bank Balances |
12.570
|
11.208 |
26.958
|
|
|
Other Current Assets |
0.000
|
0.00 |
0.000
|
|
|
Loans & Advances |
44.045
|
19.830 |
18.039
|
|
Total
Current Assets |
374.302
|
232.644 |
239.638 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
159.510
|
87.955
|
55.416
|
|
|
Other Current Liabilities |
0.000
|
0.000 |
0.000
|
|
|
Provisions |
1.632
|
7.701 |
0.993
|
|
Total
Current Liabilities |
161.142
|
95.656 |
56.409
|
|
|
Net Current Assets |
213.160
|
136.988 |
183.229
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
445.368 |
332.987 |
379.328 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
914.815 |
781.417 |
664.980 |
|
|
|
Other Income |
1.363 |
1.080 |
2.428 |
|
|
|
TOTAL (A) |
916.178 |
782.497 |
667.408 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption Materials Changes Inventories |
744.802 |
626.932 |
|
|
|
|
Manufacturing Services Costs |
66.528 |
64.443 |
613.179 |
|
|
|
Employee Related Expenses |
22.619 |
26.472 |
|
|
|
|
Administrative Selling Other Expenses |
20.733 |
10.451 |
|
|
|
|
TOTAL (B) |
854.682 |
728.298 |
613.179 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
61.496 |
54.199 |
54.229 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
23.335 |
20.695 |
26.742 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
38.161 |
33.504 |
27.487 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
18.763 |
16.949 |
15.961 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
19.398 |
16.555 |
11.526 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
6.848 |
7.678 |
1.199 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
12.550 |
8.877 |
10.327 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
80.271 |
71.394 |
61.067 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
92.821 |
80.271 |
71.394 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
14.500 |
3.100 |
NA |
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
6.14 |
4.34 |
5.05 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.37
|
1.13 |
1.55 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.12
|
2.12 |
1.73 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.22
|
3.90 |
2.67 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.12
|
0.11 |
0.07 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.45
|
1.59 |
1.75 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.32
|
2.43 |
4.25 |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
Yes |
|
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 |
Yes |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
No |
|
20) Export / Import details (if applicable) |
Yes |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter involved in |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
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 |
Yes |
|
33) Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34) External Agency Rating, if available |
Yes |
SUNDRY CREDITORS
DETAILS
(Rs.
In Millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors
|
|
|
|
|
Creditors due
small micro enterprises |
0.000 |
0.000 |
0.000 |
|
Creditors due
others |
159.510 |
87.955 |
55.416 |
|
TOTAL |
159.510 |
87.955 |
55.416 |
OPERATIONS
The turnover and
other receipts of the Company for the year has resulted to Rs. 914.815 Millions
as compared to Rs. 781.417 Millions for the previous year. The Profit / (Loss)
before Depreciation, Financial Charges and Taxation has been Rs 64.228 Millions
as compared to Rs. 56.063 Millions during the previous year and Profit/ (Loss)
after financial charges, depreciation and taxation but before including income
and expenses from extraordinary and prior period items and rectification of
errors was Rs. 12.624 Millions as compared to Rs. 8.984 Millions during the
previous year.
CONTINGENT
LIABILITIES
·
Letter of credit Issued Rs.1.205 Millions (Net of accepted
liabilities of Rs.34.295 Millions) (Previous Year Rs.0.429 Million)
·
Bills of Exchange discounted Rs.28.590 Millions
(Previous Year Rs.7.207Millions)
BANKERS CHARGES
REPORT AS PER REGISTRY
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
80043418 |
|
Corporate
identity number of the company |
L91110GJ1983PLC022203 |
|
Name of the
company |
MARUDHAR
INDUSTRIES LIMITED |
|
Address of the
registered office or of the principal place of business in |
611, G.I.D.C Phase, IV Vatva Industrial Estate, Vatva,
Ahmedabad-382445, |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
Oriental Bank of Commerce, |
|
Email |
|
|
Nature of
description of the instrument creating or modifying the charge |
Confirmation and
extension of equitable mortgage |
|
Date of instrument
Creating the charge |
14.09.2011 |
|
Amount secured by
the charge |
Rs.248.002
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Cash credit: base
rate + 3.25% i.e. 14% at present. Penal interest:
2% on overdrawing / irregularity in account. Comm. on
guarantee. : as per bank's norm Terms of Repayment Term Loan: As Per
Term Loan Agreement. C. C. / LC:
Repayment On Demand. Margin Stock / Book
Debts / Machinery : 25%, LC : 10%, Bank Guarantee : 10% Extent and Operation of the charge Bank shall have
exclusive charge over entire mortgaged property of the company. |
|
Short particulars
of the property charged |
Immovable
property belonging to company being the leasehold plot no.610, 611 and 711
together with construction thereon situated in Phase Iv of GIDC Estate,
Vatva, Taluka Dascroi, Ahmedabad. |
|
Date of latest
modification prior to the present modification |
24.09.2010 |
|
Particulars of the
present modification |
Now by the above
mortgage it secures Enhanced lt. From Rs.246.390 Millions to Rs.248.002
Millions. CC Rs.165.000 Millions, sub lt. of book debts Rs.82.500 Millions +
import/inland LC/BG Rs.35.500 Millions + TL Rs.11.446 Millions + TL II
Rs.36.056 Millions = Rs.248.002 Millions |
FIXED ASSETS:
·
Rights and Tools
·
·
·
Plant and Machinery
·
Office Equipments
·
Furniture and Fixtures
·
Computer
·
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 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.53.53 |
|
|
1 |
Rs.86.82 |
|
Euro |
1 |
Rs.69.03 |
INFORMATION DETAILS
|
Information
Gathered by : |
SBA |
|
|
|
|
Report Prepared
by : |
SDA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
46 |
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.