1. Summary Information
|
|
|
Country |
India |
|
Company Name |
LG POLYMERS INDIA PRIVATE LIMITED |
Principal Name 1 |
Cheo Ki Jang |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Praveen Surisetty Venkata |
|
|
|
Registration # |
01-025917 |
|
Street Address |
R. R. V. Venkatapuram, |
||
|
Established Date |
10.12.1996 |
SIC Code |
-- |
|
Telephone# |
91-891-2520455 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-891-2520338 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Polystyrene |
|
|
# of employees |
Not Available |
Product Name 2 |
Related Products |
|
Paid up capital |
Rs.
1,263,300,000/- |
Product Name 3 |
-- |
|
Shareholders |
Bodies corporate 100% |
Banking |
IDBI Bank Limited |
|
Public Limited Corp. |
No |
Business Period |
17 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
Ba
(46) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Ultimate Holding Company |
Korea |
LG Chem Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.12.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
2,057,209,000 |
Current Liabilities |
1,297,025,000 |
|
Inventories |
1,850,994,000 |
Long-term Liabilities |
770,493,000 |
|
Fixed Assets |
474,013,000 |
Other Liabilities |
119,884,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
2,187,402,000 |
|
Invest& other Assets |
7,377,000 |
Retained Earnings |
938,891,000 |
|
|
|
Net Worth |
2,202,191,000 |
|
Total Assets |
4,389,593,000 |
Total Liab. & Equity |
4,389,593,000 |
|
Total Assets (Previous Year) |
3,125,243,000 |
|
|
|
P/L Statement as of |
31.12.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
8,403,206,000 |
Net Profit |
208,303,000 |
|
Sales(Previous yr) |
6,896,120,000 |
Net Profit(Prev.yr) |
303,387,000 |
MIRA
INFORM REPORT
|
Report Date : |
18.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
LG POLYMERS INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
R. R. V. Venkatapuram, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation
: |
10.12.1996 |
|
|
|
|
Com. Reg. No.: |
01-025917 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 1263.300
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25203AP1996PTC025917 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
VPNL00060E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACL8528P |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of
Polystyrene and Related Products. |
|
|
|
|
No. of Employees
: |
Not Available |
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 8810000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of LG Group a well known Korean giant. It is an established company having satisfactory track record. There
appears some dip in the profitability of the company during current year.
However, 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 condition. |
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) |
|
|
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
|
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.
LOCATIONS
|
Registered Office/ Factory : |
R. R. V. Venkatapuram, Visakhapatna – 530029, |
|
Tel. No.: |
91-891-2520455-58/ 2520018 |
|
Fax No.: |
91-891-2520338/ 2520528 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Corporate/ Head Office: |
Oberoi Garden Estates, 2nd Floor, A Wing, Off Saki Vihar Road, Chandivali, Sakinaka, Andheri (East), Mumbai – 400072, Maharashtra, India |
|
|
|
|
Branches : |
1001 Vikram Tower, 16 Rajendra Place, New Delhi – 110008, India Tel. No. : 91-11-25726918/ 25728002/ 25747295 Fax No. : 91-11-25755730 Located at · Mumbai ·
· Kolkata · Chennai |
|
Location : |
Owned |
|
|
|
|
Sales Office 1 : |
No.5, Nehru Nagar, |
|
Tel No.: |
91-44-28592450/ 28592117 |
|
Fax No.: |
91-44-28592117 |
|
Email : |
|
|
|
|
|
Sales Office 2 : |
1/36, 2nd Floor, Ulsoor Road Cross, Hanumanthappa Layout, Bangalore – 560042, Karnataka, India |
|
Tel No.: |
91-80-25591889/ 890 |
|
Fax No.: |
91-80-25550722/ 723 |
|
|
|
|
Overseas Branch : |
AB-3, Safdarjung Enclave, |
|
Tel. No.: |
91-11-26714001 |
|
Fax No. : |
91-11-26713646 |
DIRECTORS
AS ON 14.06.2012
|
Name : |
Cheo Ki Jang |
|
Designation : |
Director |
|
Address : |
692 (28/8), Gojan-dong Danwon – Gu, Ansan-si, |
|
Date of Birth/Age : |
18.04.1966 |
|
Date of Appointment : |
03.03.2008 |
|
DIN No.: |
02121350 |
|
|
|
|
Name : |
Mr. Praveen Surisetty Venkata |
|
Designation : |
Director |
|
Address : |
50-24-12, TPT Colony, Seethammadhara, |
|
Date of Birth/Age : |
03.02.1957 |
|
Date of Appointment : |
03.03.2008 |
|
DIN No.: |
02147522 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 14.06.2012
|
Names of Shareholders |
|
No. of Shares |
|
LG Chemical India Private Limited, India |
|
126330000 |
|
Praveen Surisetty Venkata |
|
1 |
|
|
|
|
|
Total |
|
126330001 |
AS ON 14.06.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of
Polystyrene and Related Products. |
||||||||||
|
|
|
||||||||||
|
Products : |
|
PRODUCTION STATUS (AS ON 31.12.2011)
|
Particulars |
Unit |
Installed
Capacity* |
Actual
Production |
|
Polystyrene |
MT |
100,000 |
75,583 |
|
Expandable Polystyrene |
MT |
25,000 |
24,107 |
Note:
* As certified by the management
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
Ø IDBI Bank Limited, Balaji Mangalagiri Chambers,
9/29/6-1, Balaji Nagar, Sripuram, Visakhapatanam – 530003, Andhra Pradesh,
India Ø The Hongkong and
Shanghai Banking Corporation Limited, 6-3-1107 and 1108, Raj Bhavan Road,
Somajiguda, Hyderabad - 500082, Andhra Pradesh, India Ø Standard Chartered
Bank, Credit Documentation Unit, Narain Manzil, 23 Arakhamba Road, New Delhi - 110001, India |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse Chartered Accountants |
|
Address : |
8-2-293/82, A/1131A, Road No.36, Jubilee Hills, Hyderabad – 500034,
Andhra Pradesh, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAEFP5579P |
|
|
|
|
Ultimate Holding
Company : |
LG Chem Limited, Korea |
|
|
|
|
Holding Company : |
LG Chemical India Private Limited |
CAPITAL STRUCTURE
AS ON 31.12.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
130,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 1300.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
126,330,001 |
Equity Shares |
Rs. 10/- each |
Rs. 1263.300
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2011 |
31.12.2010 |
31.12.2009 [9 Months] |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
1263.300 |
1263.300 |
1263.300 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
938.891 |
730.100 |
574.025 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
2202.191 |
1993.400 |
1837.325 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
770.493 |
103.436 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
770.493 |
103.436 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
46.782 |
55.181 |
69.810 |
|
|
|
|
|
|
|
|
TOTAL |
3019.466 |
2152.017 |
1907.135 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
474.013 |
479.934 |
498.509 |
|
|
Capital work-in-progress |
3.357 |
14.550 |
2.525 |
|
|
|
|
|
|
|
|
INVESTMENT |
4.020 |
4.020 |
34.020 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1850.994
|
1332.725 |
660.117
|
|
|
Sundry Debtors |
1251.896
|
697.176 |
751.718
|
|
|
Cash & Bank Balances |
120.191
|
102.481 |
237.396
|
|
|
Other Current Assets |
0.000
|
0.000 |
0.000
|
|
|
Loans & Advances |
685.122
|
494.357 |
346.795
|
|
Total
Current Assets |
3908.203
|
2626.739 |
1996.026 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1226.656
|
715.891 |
534.758
|
|
|
Other Current Liabilities |
70.369
|
48.091 |
44.104
|
|
|
Provisions |
73.102
|
209.244 |
45.083
|
|
Total
Current Liabilities |
1370.127
|
973.226 |
623.945 |
|
|
Net Current Assets |
2538.076
|
1653.513 |
1372.081 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
3019.466 |
2152.017 |
1907.135 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2011 |
31.12.2010 |
31.12.2009 [9 Months] |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
8403.206 |
6896.120 |
4492.378 |
|
|
|
Other Income |
33.672 |
31.182 |
43.347 |
|
|
|
TOTAL |
8436.878 |
6927.302 |
4535.725 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
8099.115 |
6459.649 |
4344.030 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
337.763 |
467.653 |
191.695 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
129.460 |
164.266 |
85.420 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
208.303 |
303.387 |
106.275 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
718.674 |
562.599 |
456.324 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend at 10% |
0.488 |
126.330 |
0.000 |
|
|
|
Dividend Distribution Tax |
0.000 |
20.982 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
926.489 |
718.674 |
562.599 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB value of exports |
196.070 |
490.000 |
527.318 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
6710.307 |
5503.701 |
3526.272 |
|
|
|
Chemicals, stores and packing material |
76.134 |
60.242 |
34.104 |
|
|
|
Capital Goods |
3.064 |
4.164 |
2.831 |
|
|
|
Traded goods |
0.000 |
83.709 |
136.470 |
|
|
TOTAL IMPORTS |
6789.505 |
5651.816 |
3699.677 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.65 |
2.40 |
0.84 |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2011 |
31.12.2010 |
31.12.2009 [9 Months] |
|
PAT / Total Income |
(%) |
2.47
|
4.38
|
2.34
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.02
|
6.78
|
4.27
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.71
|
15.05
|
7.68
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15
|
0.23
|
0.10
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.35
|
0.05
|
0.00
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.85
|
2.70
|
3.20
|
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 |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
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 |
No |
FINANCIAL
PERFORMANCE:
EPS Manufacturing Capacity
has been increased by MT 3000 per annum during the Year by Process improvement
etc.
There has been an
increase in overall Sales Volume and Turn Over and Operating Profit during the
year. However Profit before Tax has reduced on account of Foreign Exchange Loss
on Imports due to adverse movement of US Dollar rate
The Directors are
working for further improvement in Sales Volume and the Operating Level of the
Plants during Current Year
The Company
continues to be a 100% subsidiary of L G Chemical India Private Limited.
OTHER ACTIVITIES:
Technical Experts
from LGC, Korea visited LGPI factory and technical expertise on Operations and
Safety exchanged.
Many new projects
taken up to improve Environment & Safety : Online continuous stack
emissions and ambient air quality monitoring station, scrubber system for
Boiler flue gas, improved ETP system to control final effluent water quality
etc and Gas sensors in remote/unmanned storage tanks area, pedestrian walk ways
for human safety etc
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U25203AP1996PTC025917 |
|
Name of the
company |
LG POLYMERS INDIA PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
R. R. V. Venkatapuram, Visakhapatnam – 530029, Andhra Pradesh, India Email: bvb@lgpi.co.in |
|
This form is for |
Modification of charge |
|
Charge
identification number of the modified |
10218355 |
|
Type of charge |
Book debts Others [First Charge Over Current Assets] |
|
Particular of
charge holder |
Standard Chartered Bank, Credit Documentation Unit, Narain Manzil,
23 Arakhamba Road, New Delhi - 110001,
India Email: ashima.tandon@sc.com |
|
Nature of
description of the instrument creating or modifying the charge |
Supplemental to
unattested memorandum of hypothecation. |
|
Date of
instrument Creating the charge |
24.09.2012 |
|
Amount secured by
the charge |
Rs. 1400.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As per facility
advice letter dated 19.07.2012 to be amended from time to time. Terms of Repayment As per facility
advice letter dated 19.07.2012 to be amended from time to time. Margin As per facility
advice letter dated 19.07.2012 to be amended from time to time. Extent and Operation of the charge Extent &
Operation - 100% |
|
Short particulars
of the property charged |
Hypothecation by
way of first charge over all present and future book debts, outstanding
moneys, receivable, claims and bills etc. And all present & future stock
in trade of raw material, finished
goods, goods in process of manufacture and other merchandise whatsoever being
movable properties stored or to be stored at the company's godowns or
premises or wherever else the same may be. |
|
Particulars of
the present modification |
Bank's first
charge over all present & future book debts, outstanding moneys,
receivable, claims and bills etc. And all present and future stock in trade
of raw material, finished goods, goods in process of manufacture and other
merchandise whatsoever being movable properties stored or to be stored at the
company's godowns or premises or wherever else the same may be, already
registered for Rs. 1120.000 Millions shall stand enhanced to Rs. 1400.000
Millions. |
CONTINGENT
LIABILITIES
|
Description |
31.12.2011 |
31.12.2010 |
|
|
(Rs. in Millions) |
|
|
Excise duty matters disputed by the
Company |
1.682 |
1.682 |
|
Service tax matters disputed by the
Company |
64.303 |
52.290 |
|
Sales tax matters under dispute |
0.050 |
3.747 |
|
Income tax matters under dispute |
28.723 |
47.064 |
|
Stamp Duty disputed by the Company |
56.011 |
56.011 |
|
Claims against the company not
acknowledged as debts |
48.620 |
44.054 |
FIXED ASSETS:
Ø
Freehold Land
Ø
Building
Ø
Factory
Ø
Non Factory
Ø
Plant and Machinery
Ø
Furniture and Fixture
Ø
Office Equipment
Ø
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. 53.94 |
|
|
1 |
Rs. 82.77 |
|
Euro |
1 |
Rs. 71.05 |
INFORMATION DETAILS
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
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.