MIRA INFORM REPORT
|
Report Date : |
29.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
SECURE PRINT SOLUTIONS PRIVATE LIMITED (w.e.f. 13.05.2008) |
|
|
|
|
Formerly Known
As : |
UBIQUE COLLECTIVE MARKETING PRIVATE LIMITED |
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Registered
Office : |
Godown No. EW 3, Dhulagarh Truck Terminal, Dhulagarh, Sankrail
Dhulagarh, Howrah-711313, West Bengal |
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|
Country : |
India |
|
|
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|
Financials (as
on) : |
31.03.2012 |
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|
|
|
Date of
Incorporation : |
24.12.2002 |
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|
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|
Com. Reg. No.: |
21-095558 |
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Capital
Investment / Paid-up Capital : |
Rs. 46.300 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51900WB2002PTC095558 |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
Line of Business
: |
Subject is engaged in the business of printing telecom
scratch cards. |
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|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 770000 |
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|
|
|
Status : |
Moderate |
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|
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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|
Comments : |
Subject is an established company having moderate track record. Profit
margin of the company appears to be low. The company has recorded huge
external borrowings, the rating also take into consideration the
deterioration of the secure group’s liquidity. However, trade relations are
reported as fair. Business is active. Payments are reported to slow. The company can be considered for dealings with great cautions. |
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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating : B- |
|
Rating Explanation |
High risk of default |
|
Date |
10.09.2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating : A4 |
|
Rating Explanation |
Minimal degree of safety. It carry very high credit risk. |
|
Date |
10.09.2012 |
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.
LOCATIONS
|
Registered Office : |
Godown No. EW 3, Dhulagarh Truck Terminal, Dhulagarh, Sankrail
Dhulagarh, Howrah-711313, West Bengal, India |
|
Tel. No.: |
91- 33-26790471 / 2 / 3 |
|
Fax No.: |
91-33-26790474 |
|
E-Mail : |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Rahul Jain |
|
Designation : |
Director |
|
Address : |
Flat 4A, Metro Towers, 1, HO CHI Minh Sarani, Kolkata-700071, West
Bengal, India |
|
Date of Birth/Age : |
20.03.1972 |
|
Date of Appointment : |
17.07.2006 |
|
DIN No.: |
00655214 |
|
|
|
|
Name : |
Mr. Rajneesh Jain |
|
Designation : |
Director |
|
Address : |
Flat 5E, Devdwar Building, 34, Ballygunj Circular Road,
Kolkata-700019, West Bengal, India |
|
Date of Birth/Age : |
10.09.1975 |
|
Date of Appointment : |
17.07.2006 |
|
DIN No.: |
00655798 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Rajneesh Jain |
|
351000 |
|
Rahul Jain |
|
300000 |
|
Ritum Jain |
|
369000 |
|
Maya Jain |
|
289000 |
|
Kalpa Jain |
|
37000 |
|
Vineet Jain |
|
80000 |
|
Varun Jain |
|
407800 |
|
Sudha Jain |
|
342200 |
|
Neha Jain |
|
210000 |
|
Ritum Jain (HUF) |
|
50000 |
|
Rahul Jain (HUF) |
|
94000 |
|
Sweta Jain |
|
70000 |
|
Pooja Jain |
|
150000 |
|
Shantinath Financial Services Limited, India |
|
1630000 |
|
Promod Jain (HUF) |
|
250000 |
|
Total |
|
4630000 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2012
|
Category |
Percentage |
|
Bodies corporate |
35.21 |
|
Directors or relatives of Directors |
59.40 |
|
Other top fifty shareholders |
5.39 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of printing telecom
scratch cards. |
PRODUCTION STATUS 31.03.2011
|
Particulars |
31.03.2011 Quantity
(Pcs) |
|
Installed Capacity (as certified by the Management) |
972000000 |
|
Production |
530746542 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
Note Term Loan from WBIDCO Limited is secured by First Pari-passu Charge by way of hypothecation of all Fixed Assets financed by them and Second charge on other Fixed Assets and the Current Assets of the company. Further, Personal Guarantees have been given by directors for the said loan. Term Loans from TATA Capital Financial Services Limited are secured by exclusive First Charge on the Fixed Assets financed by them and second charge on other Fixed Assets and Current Assets of the company. Further, Personal Guarantees have been given by directors for the said loan. Terms of repayments
are given below : Term loan taken from WBIDCO Ltd. is repayable in quarterly installments of Rs. Rs. 2.250 millions each. Term loan - I taken from TATA Capital Financial Services Limited is repayable in quarterly installments of Rs. 9.250 millions each. Term loan - II taken from TATA Capital Financial Services Limited is repayable in quarterly installments of Rs. 2.271 millions each. Car Loan taken from HDFC Bank is repayable in monthly EMI's of Rs. 0.047 million each. The Management undertakes not to repay the overall amount of unsecured loans till the total repayments of Secured Loans. Credit Facilities from Andhra Bank are secured by Pari-passu First Charge with ICICI Bank on Current Assets and Second charge on all the Fixed Assets of the Company. |
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Banking
Relations : |
-- |
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Financial Institution : |
West Bengal Industrial Development Corporation Limited, 5 Council House St., Kolkata - 700001, West Bengal, India |
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|
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Auditors : |
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|
Name : |
VKR and Associates Chartered Accountants |
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Address : |
209, Martin Burn House, 2nd Floor, 1, R.N.Mukherjee Road,
Kolkata-700001, West Bengal, India |
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Tel. No.: |
91-33-22316653/ 54 |
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E-Mail : |
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PAN No.: |
AADFV9618E |
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Interested
Concerns: |
Shantinath Financial Services Limited |
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Wholly Owned
Subsidiary : |
Secure Offset Private Limited CIN No.: U22219WB2010PTC143632 |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs. 50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4630000 |
Equity Shares |
Rs.10/- each |
Rs. 46.300 Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
46.300 |
30.000 |
30.000 |
|
|
2] Share Application Money |
0.000 |
65.235 |
0.000 |
|
|
3] Reserves & Surplus |
146.649 |
92.730 |
88.276 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
192.949 |
187.965 |
118.276 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
184.924 |
227.822 |
327.353 |
|
|
2] Unsecured Loans |
98.240 |
42.237 |
41.742 |
|
|
TOTAL BORROWING |
283.164 |
270.059 |
369.095 |
|
|
DEFERRED TAX LIABILITIES |
27.719 |
27.719 |
27.719 |
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|
|
|
|
|
|
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TOTAL |
503.832 |
485.743 |
515.090 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
370.128 |
395.437 |
377.320 |
|
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Capital work-in-progress |
0.000 |
6.539 |
29.677 |
|
|
|
|
|
|
|
|
INVESTMENT |
11.900 |
11.900 |
0.000 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
76.755
|
45.668 |
44.617 |
|
|
Sundry Debtors |
79.422
|
44.262 |
43.855 |
|
|
Cash & Bank Balances |
7.117
|
8.449 |
19.542 |
|
|
Other Current Assets |
38.262
|
47.700 |
0.020 |
|
|
Loans & Advances |
16.825
|
17.023 |
19.460 |
|
Total
Current Assets |
218.381
|
163.102 |
127.494 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
5.526
|
1.928 |
3.488 |
|
|
Other Current Liabilities |
89.726
|
88.657 |
15.145 |
|
|
Provisions |
1.327
|
0.650 |
0.770 |
|
Total
Current Liabilities |
96.579
|
91.235 |
19.403 |
|
|
Net Current Assets |
121.802
|
71.867 |
108.091 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.002 |
|
|
|
|
|
|
|
|
TOTAL |
503.830 |
485.743 |
515.090 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
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SALES |
|
|
|
|
|
|
|
Income |
314.272 |
270.793 |
388.234 |
|
|
|
Other Income |
1.015 |
46.586 |
1.605 |
|
|
|
TOTAL (A) |
315.287 |
317.379 |
389.839 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
228.361 |
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
235.247 |
228.361 |
262.779 |
|
|
|
|
|
|
|
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|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
80.040 |
89.018 |
127.060 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
37.924 |
42.581 |
42.702 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
42.116 |
46.437 |
84.358 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
35.916 |
40.970 |
44.431 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
6.200 |
5.467 |
39.927 |
|
|
|
|
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|
|
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|
Less |
TAX (H) |
1.181 |
1.014 |
16.211 |
|
|
|
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|
|
|
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|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
5.019 |
4.453 |
23.716 |
|
|
|
|
|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
92.730 |
88.276 |
64.560 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
97.949 |
92.730 |
88.276 |
|
|
|
|
|
|
|
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|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of goods calculated on FOB basis |
84.510 |
52.692 |
26.115 |
|
|
TOTAL EARNINGS |
84.510 |
52.692 |
78.807 |
|
|
|
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|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
29.693 |
20.336 |
NA |
|
|
|
Spare Parts |
1.445 |
1.062 |
NA |
|
|
|
Capital Goods - Plant and Machinery |
5.545 |
3.709 |
NA |
|
|
TOTAL IMPORTS |
36.683 |
25.107 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
1.08 |
1.48 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.59
|
1.40 |
6.08 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.97
|
2.02 |
10.28 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.05
|
0.98 |
7.91 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03
|
0.03 |
0.34 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.47
|
1.44 |
3.12 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.26
|
1.79 |
6.57 |
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 |
Yes |
NOTE
The registered office of the company has been shifted from 2, Woodburn
Park, 2nd Floor, Kolkata-700020, West Bengal, India to the present address
w.e.f. 09.06.2008
GENERAL INFORMATION
Subject is engaged mainly in the business of printing telecom scratch cards. It is an ISO 9001:2008, ISO 14001:2008 and ISO 27001:2005 certified organisation. The Company has its production unit at Dhulagarh, Howrah - 711313 (West Bengal) and caters to the requirements Industry across the globe.
OPERATIONS
During the year ended March 31st, 2012, the net turnover increased by 15.8 % to Rs. 313.210 millions from Rs. 270.493 millions for the year ended March 31st, 2011. The improvement in performance of the company during the current year was primarily driven by improving the overall contribution from the export business having significantly higher margins. The export turnover, including Rupee exports to Nepal and Bhutan comprised 45.5 % of the total turnover during the current year as compared to 26.9 % for the corresponding period in the last year.
Another significant development during the current years was the introduction of the Telecom Consumers Protection Act, 2011 by the TRAI during the month of January 2012. This act laid down certain minimum specifications and standards for Recharge Voucher printing. Based on these regulations, the telecom industry had to change the formats of recharge cards from the 10 in 1 format to the 1 in 1, 2 in 1 and 4 in 1 formats. This resulted in significant increase in the price realisations per PIN. As the Act came fully into force since March 2012, the actual impact for the same will be realised in FY 2012-13.
UNSECURED LOAN
|
Particulars |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
In Millions) |
|
From Directors, Shareholders and their Relatives |
28.230 |
28.852 |
|
From Bodies Corporate |
70.010 |
13.385 |
|
Total |
98.240 |
42.237 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U51900WB2002PTC095558 |
|
Name of the
company |
SECURE PRINT
SOLUTIONS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Godown No. EW 3, Dhulagarh Truck Terminal, Dhulagarh, Sankrail
Dhulagarh, Howrah-711313, West Bengal, India |
|
This form is for |
Modification
of charge |
|
Charge
identification (ID) number of the charge to be modified |
10121826 |
|
Type of charge |
Book
debts Movable
property (not being pledge) |
|
Particular of
charge holder |
Andhra Bank, Kolkata Main Branch, 14/1B, Ezra Street, Kolkata - 700001, West Bengal, India E-mail: bmcal0070@andhrabank.co.in |
|
Nature of
instrument creating charge |
Composite
agreement dated.30.08.2012 General form of
guarantee dated.30.08.2012 |
|
Date of
instrument Creating the charge |
30.08.2012 |
|
Amount secured by
the charge |
Rs. 90.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest OCC - At
applicable PLR/Base Rate 10.50% plus spread of 4.75% presently at 15.25% p.a. Terms of Repayment Tenor- One Year
(OCC). ILC/FLC (DA/DP) - One Year. BG - One Year. Margin 25% on stocks and
Book Debts of age up to 90 days. Extent and Operation of the charge Ranking Pari-Passu
with ICICI Bank against Current Assets. Others i) OCC - Rs.60.000 millions ii) ILC/FLC (DA/DP) Rs.20.000 millions iii) Bank
Guarantee Rs.10.000 millions ---------------------------------------------------- Total Limit
Rs.90.000
millions ---------------------------------------------------- |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
First Charge on
all types of stocks including Raw Materials, Work in Process, Consumable
Stores and Spares, Finished Goods and Book Debts and other current assets of
the Company ranking pari passu with ICICI Bank. Hypothecation of stocks
procured under LC and Counter Guarantee of the Company. |
|
Date of instrument
modifying the charge |
25.08.2008 |
|
Particulars of
the present modification |
By this
modification, at the request of the
Borrower the Bank has increased
the overall Credit Facilities from Rs.60.000 millions Rs.90.000 millions. Other terms and
conditions remain unchanged. |
CONTINGENT
LIABILITIES (TO THE EXTENT NOT PROVIDED FOR)
(Rs. in millions)
|
PARTICULARS |
31.03.2012 |
|
a. Bank Guarantees |
29.208 |
|
b. Unpaid Customs Duty (excluding the amount covered by Bank Guarantees) |
62.127 |
|
c. Corporate Guarantees in favour of a Bank on behalf of WOS |
170.600 |
|
Total |
293.1662 |
Note:
The Company has furnished Bank Guarantees aggregating to Rs. 13.728 millions in favour of the Collector of Customs for availing concessional rate of custom duties on imported machineries under the EPCG Scheme, Rs. 4.956 millions in favour of West Bengal State Electricity Distribution Company Limited as Security Deposit for installation of transformer at the Factory Premises, Rs. 0.026 million in favour of BSNL for Performance Security, Rs. 0.536 millions in favour of National Tobacco Enterprise, Ethiopia for Performance Security, Rs. 7.522 millions to Nepal Doorsanchar Company Limited for Performance Security, Rs. 1.000 million in favour of the Federal Democratic Republic of Ethiopia for Performance Security, Rs. 0.281 million in favour of Ethio Telecom Ethiopia for Bid Guarantee, Rs. 0.320 million in favour of Teletalk Bangladesh Ltd. for Performance Guarantee and Rs. 0.841 million in favour of The Assistant Commissioner of Customs for Advance License.
FIXED ASSETS
v
Tangible
- Computers
- Electrical Equipments and Installations
- Air Conditioners
- Office Equipments
- Plant and Machineries
- Furniture and Fixtures
- Motor Car
v
Intangible
- Software
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.54.29 |
|
|
1 |
Rs.83.88 |
|
Euro |
1 |
Rs.70.68 |
INFORMATION DETAILS
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
2 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
26 |
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.