MIRA INFORM REPORT
|
Report Date : |
20.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
JYOTI PLASTIC WORKS PRIVATE LIMITED. |
|
|
|
|
Registered
Office : |
90, Bombay Talkies Compound, Malad (West), Mumbai – 400064,
Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
09.10.1989 |
|
|
|
|
Com. Reg. No.: |
11-053825 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 6.200 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25200MH1989PTC053825 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Importer and Exporter of Engineering Plastic Products. |
|
|
|
|
No. of Employees
: |
200 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 520000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a satisfactory track record. The company has seen a slight dip in its net profitability during 2012.
However, financial position appears to be decent. Trade relations are fair. Business is active. Payment terms are
reported as usually correct. The concern can be considered 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
We are living in a world
where volatility and uncertainty have become the New Normal. We saw a
change of government in countries like Tunisia, Egypt, Libya and Vietnam. Once
powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve
their business models with the changing time. Readers’ Digest, Thomson Register
are no more !
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years
to double its economic output per person during its industrial revolution and the
US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years
respectively. By 2020, emerging Asia will become the world’s largest consuming
block, overtaking North America.
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial
years of the contagion but finally lost ground last year. GDP growth slowed
down. Currency has been weakening. There is a marked deceleration in
agriculture, industry and services. Dampening sentiment led to a cut-back in
investment as well as private consumption expenditure. Inflation remained
at high levels fuelled by the pressure from the food and fuel sectors. The
large fiscal and current account deficit s continued to cause grave concern. It
is imperative that India regains its growth trajectory of 8-9 % sooner than
later. This is crucially important given the need to create gainful livelihood
opportunities for the millions living in poverty as also the large contingent
of young people joining the job market every year.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk |
|
Date |
09.04.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit risk |
|
Date |
09.04.2013 |
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 (GENERAL DETAILS)
|
Name : |
Mr. Rashmin |
|
Designation : |
Account Department |
|
Contact No.: |
91-260-3091200 |
|
Date : |
19.08.2013 |
LOCATIONS
|
Registered Office : |
90, Bombay Talkies Compound, Malad (West), Mumbai – 400064,
Maharashtra, India |
|
Tel. No.: |
91-22-28824448 / 33857400 / 28813508 / 28823241 |
|
Fax No.: |
91-22-28820629 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory 1 : |
Pardi Paria Road, Near Paria High School, Dungri, Udwada, Dt. Valsad –
396185, Gujarat, India |
|
Tel. No.: |
91-260-3918200 / 2337237 |
|
|
|
|
Factory 2 : |
Survey No.178/1, 178/1/paiky-1, Bhramdev Industrial Park, Pardi Paria
Road, Village-Khadki, Taluka Pardi, Distict Valsad, Udwada – 396185, Gujarat,
India |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Raju Daulatrai Desai |
|
Designation : |
Director |
|
Address : |
Flat No.08, Firdosh Building, 8th Floor, 18 Vallabh, Nagar
Society N.S. Road 4, Juhu Scheme, Ville Parle (West), Mumbai – 400056,
Maharashtra, India |
|
Date of Birth/Age : |
26.03.1961 |
|
Date of Appointment : |
15.09.1992 |
|
DIN No.: |
00685168 |
|
|
|
|
Name : |
Mr. Sanjau Daulatrai Desai |
|
Designation : |
Director |
|
Address : |
Devchhaya, 2nd Floor, N.S. Raod, No.5, JVPD Scheme, Ville Parle
(West) , Mumbai – 400056, Maharashtra, India |
|
Date of Birth/Age : |
06.06.1964 |
|
Date of Appointment : |
13.05.1991 |
|
DIN No.: |
01553823 |
|
|
|
|
Name : |
Mr. Ashish Daulatrai Desai |
|
Designation : |
Director |
|
Address : |
Room No.4, The Huns CHS Limited, Opposite municipal School, Dawood
Baug Road, Andheri (West), Mumbai – 400058, Maharashtra, India |
|
Date of Birth/Age : |
07.12.1971 |
|
Date of Appointment : |
25.11.2005 |
|
DIN No.: |
02948099 |
KEY EXECUTIVES
|
Name : |
Mr. Rashmin |
|
Designation : |
Account Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Sanju Daulatrai Desai |
|
284800 |
|
Raju Daulatrai Desai |
|
284800 |
|
Neena Raju Desai |
|
25100 |
|
Malini Sanju Desai |
|
25100 |
|
Jaimati D. Desai |
|
200 |
|
Total |
|
620000 |
As on 29.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Importer and Exporter of Engineering Plastic Products. |
|
|
|
|
Exports : |
|
|
Products : |
Finished good |
|
Countries : |
USA |
|
|
|
|
Imports : |
|
|
Products : |
Raw Materials |
|
Countries : |
Taiwan |
|
|
|
|
Terms : |
|
|
Selling : |
L/C / Cash / Credit |
|
|
|
|
Purchasing : |
L/C / Cash / Credit |
PRODUCTION STATUS (As on 31.03.2011)
|
Particulars |
Actual
Production |
|
Wind Mill Parts (EIL – Composite Moulding) |
8401 |
|
FRP Cabins |
111 |
|
PP Grid, Scrubber, Pipe Fitting (Custom Moulding) |
659953 |
|
Submersible Parts |
2337438 |
|
Chair Base/ Furniture Parts |
9556 |
GENERAL INFORMATION
|
Customers : |
Manufacturer Company |
|||||||||||||||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||||||||||||||
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No. of Employees : |
200 (Approximately) |
|||||||||||||||||||||||||||||||||||||||
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Bankers : |
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|
Facilities : |
(Rs.
In Millions)
|
|||||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
Vatsaraj and Company Chartered Accountants |
|
Address : |
1st Floor, Fort Chambers, C’ Block, 65, Tamrind Lane, Fort,
Mumbai – 400023, Maharashtra, India |
|
PAN No.: |
AACFV7282K |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
700000 |
Equity Shares |
Rs.10/- each |
Rs.7.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
620000 |
Equity Shares |
Rs.10/- each |
Rs.6.200 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
6.200 |
6.200 |
|
(b) Reserves & Surplus |
|
124.286 |
112.205 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
|
130.486 |
118.405 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
36.750 |
39.378 |
|
(b) Deferred tax liabilities (Net) |
|
0.337 |
1.530 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
0.781 |
0.507 |
|
Total Non-current
Liabilities (3) |
|
37.868 |
41.415 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
16.224 |
12.892 |
|
(b) Trade
payables |
|
69.455 |
55.344 |
|
(c) Other
current liabilities |
|
42.255 |
27.601 |
|
(d) Short-term
provisions |
|
1.589 |
0.819 |
|
Total Current
Liabilities (4) |
|
129.523 |
96.656 |
|
|
|
|
|
|
TOTAL |
|
297.877 |
256.476 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
123.237 |
45.811 |
|
(ii)
Intangible Assets |
|
3.195 |
4.084 |
|
(iii)
Capital work-in-progress |
|
10.713 |
84.582 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.107 |
0.107 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
26.671 |
24.018 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
163.923 |
158.602 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
21.956 |
18.253 |
|
(c) Trade
receivables |
|
86.743 |
63.829 |
|
(d) Cash
and cash equivalents |
|
13.197 |
4.973 |
|
(e)
Short-term loans and advances |
|
9.507 |
9.247 |
|
(f) Other
current assets |
|
2.551 |
1.572 |
|
Total
Current Assets |
|
133.954 |
97.874 |
|
|
|
|
|
|
TOTAL |
|
297.877 |
256.476 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
6.200 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
95.768 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
101.968 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
13.727 |
|
|
2] Unsecured Loans |
|
|
3.081 |
|
|
TOTAL BORROWING |
|
|
16.808 |
|
|
DEFERRED TAX LIABILITIES |
|
|
1.348 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
120.124 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
58.922 |
|
|
Capital work-in-progress |
|
|
11.190 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
1.507 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
10.474 |
|
|
Sundry Debtors |
|
|
57.843 |
|
|
Cash & Bank Balances |
|
|
15.144 |
|
|
Other Current Assets |
|
|
1.647 |
|
|
Loans & Advances |
|
|
38.424 |
|
Total
Current Assets |
|
|
123.532 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
40.865 |
|
|
Other Current Liabilities |
|
|
6.862 |
|
|
Provisions |
|
|
27.622 |
|
Total
Current Liabilities |
|
|
75.349 |
|
|
Net Current Assets |
|
|
48.183 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.322 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
120.124 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
NA |
302.900 |
274.800 |
|
|
|
Other Income |
|
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
|
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
NA |
NA |
NA |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
12.081 |
16.437 |
17.392 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
22.655 |
9.547 |
10.051 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
0.892 |
2.462 |
|
|
|
Capital Goods |
NA |
0.000 |
0.226 |
|
|
TOTAL IMPORTS |
NA |
0.892 |
2.688 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
19.49 |
26.51 |
28.05 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.41
|
0.44 |
0.16 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.03
|
1.01 |
1.64 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF
LONG-TERM BORROWINGS
Rs. In Millions
|
Particular |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
|
|
|
Term Loan – SBI |
12.600 |
10.800 |
NA |
|
Term Loan – SIDBI |
2.400 |
0.000 |
NA |
|
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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
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 |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
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 |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
UNSECURED LOAN
Rs.
In Millions
|
Particular |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
Long Term
Borrowing |
|
|
|
From Director |
5.650 |
0.123 |
|
From Long term maturies of finance lease obligation |
0.000 |
1.039 |
|
Total |
5.650 |
1.162 |
CONTINGENT LIABILITIES
Rs. In Millions
|
Particular |
31.03.2012 |
31.03.2011 |
|
To the commissioner of Customs |
0.806 |
0.806 |
|
To Executive Engg. Electricity, Daman |
0.760 |
0.760 |
|
Kohler India Corp. Private Limited (Performance BG) |
0.511 |
0.000 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U25200MH1989PTC053825 |
|
Name of the
company |
JYOTI PLASTIC WORKS PRIVATE LIMITED. |
|
Address of the
registered office or of the principal place of business in |
90, Bombay Talkies Compound, Malad (West), Mumbai – 400064, Maharashtra, India |
|
This form is for |
Modification of charge |
|
Charge
identification (ID) number of the charge to be modified |
90215650 |
|
Type of charge |
|
|
Particular of
charge holder |
State Bank of India, Industrial Finance Branch, S.V. Road, Malad
(West), Mumbai – 400064, Maharashtra, India |
|
Nature of instrument
creating charge |
Supplemental
agreement of loan-cum-hypothecation |
|
Date of
instrument Creating the charge |
30.05.2012 |
|
Amount secured by
the charge |
Rs.136.100
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest On DCC: @14.25%
p.a., on SLOC: @15.25% p.a., on Term Loans: @15.25% all with monthly rests or
at such other rate as may be fixed by the bank from time to time. Terms of Repayment 1/ Working
capital is repayable on demand. 2/ Term Loan -
I and II: to be repaid in 54 and 84 monthly
installments respectively. Margin Raw materials :
25% Semi-Finished
Goods: 40% Finished Goods :
33.33% Domestic
Receivables (cover 90 days): 40% Term Loan: 25.37% Letters of
Credit: 15% Bank Guarantee:
15 Extent and Operation of the charge Security created
by way of first charge and to cover the principal amount together with interest,
costs, charges, expenses and other monies payable there under. Others Security created
in respect of the following credit facilities: DCC: Rs.40.000 Millions SLOC: Rs. 7.500 Millions Term Loan
(o/s): Rs.43.600 Millions Term Loan (new):
Rs.15.000 Millions LC: Rs. 20.000 Millions BG: Rs. 10.000 Millions Total... Rs.136.100 Millions |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
All present and future stocks, raw materials, goods, book debts and vehicles and all other movable assets including receivables, documents of title to goods, outstanding monies, bills, invoices, documents, contracts, insurance policies, guarantees, engagements, securities, investments and rights and the present and future machinery including stocks, book debts and other current movable assets |
|
Date of
instrument modifying the charge |
03.04.2012 |
|
Particulars of
the present modification |
At the request of
the company, State Bank of India has sanctioned a fresh term loan of
Rs.15.000 Millions. Further, the existing term loan stands reduced from
Rs.55.000 Millions to Rs.43.600 Millions. In consequent thereof, the total
amount secured now stands enhanced from Rs.132.500 Millions to Rs.136.100
Millions |
FIXED ASSETS
- Factory Building
- Electrical Installation
- Furniture and Fixtures
- Computer
- Office Equipment
- Moulds
- FRP Cabin
- Plant and Machinery
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.63.73 |
|
|
1 |
Rs.99.79 |
|
Euro |
1 |
Rs.85.07 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
47 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.