|
Report Date : |
10.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
TEXTRADE INTERNATIONAL LIMITED (w.e.f. 15.05.2007) |
|
|
|
|
Formerly Known
As : |
TEXTRADE INTERNATIONAL PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
10/11, Shivai Industrial Estate, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
23.06.2004 |
|
|
|
|
Com. Reg. No.: |
11-147108 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.104.590
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U5149MH2004PLC147108 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMT10681G |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing of Fabric. |
|
|
|
|
No. of Employees
: |
Information denied by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (36) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 5020900 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The rating
takes into consideration the stretched financial profile on account of the
high working capital intensity of the business and strained debt and interest
coverage indicators. However, there seems improvement in the business profile of the
company. Trade relations are reported as fair. Business is active. Payments
are reported to be slow but correct. The company can be considered for business dealings with some caution.
|
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
The current downturn
provides an opportunity to push ahead with reforms to accelerate growth, says
the latest India Development Update report released by the World Bank. The
report says that the adverse effects of rupee depreciation are likely to be
offset by the gains in the exports performance due to improved external
competitiveness. Since May this year, the local currency has depreciated
substantially and fell to a record level of Rs 68.85 to a dollar on August, 28.
A stagflation like
situation appears to have arisen as inflation jumped to an eight month high of
6.46 % for the month of September. It is up from 6.10 % in August. Growth
continues to be muted with factory output plunging to 0.6 % in August.
Onion prices have risen nearly 300 % from last September. Vegetables cost
nearly 90 % more than they did last year. Wake up to the economic contribution
of slum dwellers. They contribute more than 7.5 % to the country’s gross
domestic product, according to a recent study conducted in 50 top cities.
136000 estimated
number of jobs created during the second quarter of the current financial year.
50000 estimated number of additional jobs in the field of corporate social
responsibility in the coming years.
The International
Finance Corporation expects to come out with its rupee linked bonds issue
before the end of 2013 as a part of its plan to raise $ 1 billion. The Apple
iPhone 5c (Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has
been launched in India from 1st November.
The Land Acquisition
Act to provide just and fair compensation to farmers will come into force from
January 1 next year, said Rural Development Minister Jairam Ramesh. The Act
replaces a 119 year old registration. The Securities and Exchange Board of
India has approved the trading of currency futures on the Bombay Stock
Exchange. The exchange plans to launch the currency futures platform with
advanced trading technology by the end of November.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
BB [Long Term Loan] |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
October 2012 |
|
Rating Agency Name |
ICRA |
|
Rating |
A4 [Short Term Loan] |
|
Rating Explanation |
Minimal degree of safety. It carry very high credit risk. |
|
Date |
October 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.
INFORMATION DECLINED
Management non co-operative [91-22-28514430]
LOCATIONS
|
Registered Office : |
10/11, Shivai Industrial Estate, 89 Kurla- Andheri Road,
Sakinaka, Andheri (E), Mumbai-400072, Maharashtra, India |
|
Tel. No.: |
91-22-66764384 |
|
Fax No.: |
91-22-28514435 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
Plot No. 121 to 135, Road No. 4, Gidc SSEZ Unit Sachin, Surat – 394230, Gujarat, India |
|
Tel. No.: |
91-261-2398351/2398352 |
DIRECTORS
AS ON 25.07.2013
|
Name : |
Mr. Anish Bipin Doshi |
|
Designation : |
Chairman cum Managing Director |
|
Address : |
81/82, The Nest, 8th Floor, Near Millenniums Club, 7, Gulmohar, 4th Cross Road, JVPD Scheme, Mumbai, Maharashtra, India |
|
Date of Birth/Age : |
02.10.1966 |
|
Date of Appointment : |
23.06.2004 |
|
Din No.: |
00307008 |
|
|
|
|
Name : |
Mr. Deven Madhusudan Doshi |
|
Designation : |
Director |
|
Address : |
504, Commece House, |
|
Date of Birth/Age : |
10.01.1965 |
|
Date of Appointment : |
23.06.2004 |
|
Din No.: |
00375320 |
|
|
|
|
Name : |
Mr. Manish Chatar Singh Chhajed |
|
Designation : |
Nominee Director |
|
Address : |
29, Adarsh Nagar, Rohtak – 124001, |
|
Date of Birth/Age : |
14.06.1978 |
|
Date of Appointment : |
01.06.2009 |
|
Din No.: |
02549768 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 25.07.2013
|
Names of Shareholders |
|
No. of Shares |
|
Anish B. Doshi |
|
3878000 |
|
Bipln J. Doshi |
|
2959500 |
|
Monika A. Doshi |
|
1480000 |
|
Bipin Doshi (HUF) |
|
320000 |
|
Deven Doshi |
|
2000 |
|
Sonata Investments Limited – |
|
1818956 |
|
Bipin Doshi and Anish Doshi |
|
500 |
|
|
|
|
|
TOTAL
|
|
10458956 |
AS ON 25.07.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
17.00 |
|
Directors
or relatives of directors |
|
83.00 |
|
TOTAL |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Fabric. |
GENERAL INFORMATION
|
No. of Employees : |
Information denied by the management. |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
·
Indian
Overseas Bank, Mahim Branch ‘Sadhana’, 378, L J Road, Mahim, Mumbai – 400016,
Maharashtra, India ·
Citibank N. A., Citi Business Citi Group Centre,
2nd Floor, Bandra-Kurla Complex,
Bandra (East), Mumbai – 400051, Maharashtra, India ·
State Bank of ·
IDBI Bank Limited, City SME Centre, 161, Mittal
Court, C Wing, Nariman Point, Mumbai-400021, Maharashtra, India ·
Syndicate Bank, Marol Branch, B-59, Giriraj
Industrial Estate, Mahakali Caves Road, Andheri (East), Mumbai-400093,
Maharashtra, India ·
Central Bank of India, Nariman Point Branch,
Chander Mukhi Ground Floor, Nariman Point, Mumbai-400021, Maharashtra, India |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Kamdar Desai and Patel Chartered Accountants |
|
Address : |
Vasaikar House, |
|
PAN No: |
AAAFK6984H |
|
|
|
|
Subsidiaries / Associates : |
·
Textrade INC, United Status ·
Worldtex Manufacturing Private Limited
[U17110MH1999PTC121510] |
|
|
|
|
Other Related Parties : |
REL Utility
Engineers Limited [U45200MH2003PLC140946] |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
11000000 |
Equity Shares |
Rs.10/- each |
Rs.110.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10458956 |
Equity Shares |
Rs.10/- each
|
Rs.104.590
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
104.590 |
104.590 |
104.590 |
|
(b) Reserves & Surplus |
1150.647 |
1086.927 |
1054.494 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’ Funds (1) + (2) |
1255.237 |
1191.517 |
1159.084 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
117.735 |
127.391 |
150.185 |
|
(b) Deferred tax liabilities (Net) |
1.353 |
1.353 |
1.353 |
|
(c) Other long
term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
119.088 |
128.744 |
151.538 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
869.638 |
856.720 |
740.549 |
|
(b)
Trade payables |
204.808 |
120.572 |
39.760 |
|
(c)
Other current liabilities |
41.141 |
25.314 |
22.608 |
|
(d) Short-term
provisions |
40.867 |
17.686 |
6.332 |
|
Total Current
Liabilities (4) |
1156.454 |
1020.292 |
809.249 |
|
|
|
|
|
|
TOTAL |
2530.779 |
2340.553 |
2119.871 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
1104.241 |
1151.152 |
1197.305 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
26.803 |
26.803 |
26.803 |
|
(c) Deferred tax
assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current
assets |
2.200 |
2.516 |
2.024 |
|
Total Non-Current
Assets |
1133.244 |
1180.471 |
1226.132 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
868.128 |
787.052 |
587.952 |
|
(c)
Trade receivables |
309.531 |
225.383 |
169.169 |
|
(d) Cash
and cash equivalents |
5.399 |
11.118 |
1.343 |
|
(e)
Short-term loans and advances |
214.049 |
135.999 |
135.275 |
|
(f)
Other current assets |
0.428 |
0.530 |
0.000 |
|
Total
Current Assets |
1397.535 |
1160.082 |
893.739 |
|
|
|
|
|
|
TOTAL |
2530.779 |
2340.553 |
2119.871 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1898.146 |
1503.173 |
1198.394 |
|
|
|
Other Income |
8.812 |
4.645 |
7.927 |
|
|
|
TOTAL (A) |
1906.958 |
1507.818 |
1206.321 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
1566.923 |
1289.847 |
853.119 |
|
|
|
Employee benefit expense |
85.130 |
82.176 |
93.355 |
|
|
|
Other expenses |
78.305 |
87.043 |
91.787 |
|
|
|
Changes in
inventories of finished goods, work-in-progress and stock-in-trade |
(74.785) |
(166.530) |
(34.765) |
|
|
|
TOTAL (B) |
1655.573 |
1292.536 |
1003.496 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
251.385 |
215.282 |
202.825 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
116.216 |
123.250 |
81.550 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
135.169 |
92.032 |
121.275 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
30.727 |
30.703 |
34.197 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
104.442 |
61.329 |
87.078 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
23.181 |
11.354 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
81.261 |
49.975 |
87.078 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB value of manufactured goods exported |
565.564 |
536.105 |
654.974 |
|
|
|
FOB value of traded goods exported |
93.093 |
95.151 |
13.221 |
|
|
TOTAL EARNINGS |
658.657 |
631.256 |
668.195 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
421.780 |
335.096 |
441.821 |
|
|
|
Stores & Spares |
7.551 |
0.020 |
0.000 |
|
|
|
Capital Goods |
0.583 |
0.306 |
0.634 |
|
|
TOTAL IMPORTS |
429.914 |
335.422 |
442.455 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
7.77 |
4.78 |
8.33 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
4.26
|
3.31 |
7.22 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.50
|
4.07 |
7.27 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.17
|
2.65 |
4.16 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08
|
0.05 |
0.07 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.79
|
0.83 |
0.77 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.21
|
1.14 |
1.10 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF CURRENT MATURITIES OF LONG TERM
DEBT:
|
Particulars |
31.03.2013 [Rs. in millions] |
31.03.2012 [Rs. in millions] |
31.03.2011 [Rs. in millions] |
|
|
|
|
|
|
Current
Maturities of Long Term Debt |
0.000 |
0.000 |
0.000 |
|
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] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
INDEX OF CHARGES:
|
S.
No. |
Charge
ID |
Date
of Charge Creation/Modification |
Charge
amount secured |
Charge
Holder |
Address |
Service
Request Number (SRN) |
|
1 |
10458032 |
01/11/2013 |
230,000,000.00 |
CENTRAL
BANK OF INDIA |
NARIMAN
POINT BRANCH, CHANDER MUKHI GROUND FLOOR, NARIMAN POINT, MUMBAI - 400021,
MAHARASHTRA, INDIA |
B88701503 |
|
2 |
10460003 |
28/10/2013 |
50,000,000.00 |
SYNDICATE
BANK |
MAROL
BRANCH, B-59, GIRIRAJ INDUSTRIAL ESTATE, MAHAKALI CAVES ROAD, ANDHERI (EAST),
MUMBAI - 400093, MAHARASHTRA, INDIA |
B89459374 |
|
3 |
10426593 |
16/05/2013 |
30,000,000.00 |
IDBI
BANK LIMITED |
IDBI
TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI - 400005, MAHARASHTRA, INDIA |
B75430074 |
|
4 |
10394165 |
10/12/2012 |
20,000,000.00 |
SYNDICATE
BANK |
MAROL
BRANCH, B-59, GIRIRAJ INDUSTRIAL ESTATE, MAHAKALI CAVES ROAD, ANDHERI (EAST),
MUMBAI - 400053, MAHARASHTRA, INDIA |
B64907041 |
|
5 |
10240112 |
21/06/2013
* |
200,000,000.00 |
EXPORT-IMPORT
BANK OF INDIA |
CENTRE
ONE BUILDING, FLOOR 21, WORLD TRADE CENTRE COMPLEX, CUFFE PARADE, MUMBAI -
400005, MAHARASHTRA, INDIA |
B80535479 |
|
6 |
10206579 |
09/02/2013
* |
130,000,000.00 |
IDBI
BANK LIMITED |
CITY
S.M.E CENTRE, 161, MITTAL COURT, C-WING, NARIMAN POINT, MUMBAI - 400021,
MAHARASHTRA, INDIA |
B68233303 |
|
7 |
10159248 |
08/05/2012
* |
185,000,000.00 |
SYNDICATE
BANK |
MAROL
BRANCH, B-59, GIRIRAJ INDUSTRIAL ESTATE, MAHAKALI CAVES ROAD, ANDHERI (EAST),
MUMBAI - 400093, MAHARASHTRA, INDIA |
B40758179 |
|
8 |
80006793 |
19/10/2013
* |
405,000,000.00 |
INDIAN
OVERSEAS BANK |
MAHIM
BRANCH, SADHANA , 378, L J ROAD, MAHIM, MUMBAI - 400016, MAHARASHTRA, INDIA |
B89252209 |
|
9 |
80013192 |
06/03/2013
* |
1,025,000,000.00 |
STATE
BANK OF INDIA |
OVERSEAS
BRANCH WORLD TRADE CENTRE, CUFFE PARADE, |
B71637995 |
|
* Date of charge
modification |
||||||
|
Unsecured Loan |
As
on 31.03.2013 [Rs.
in Millions] |
As
on 31.03.2012 [Rs.
in Millions] |
|
Long Term
Borrowings |
|
|
|
Loans and Advances From Related Parties |
117.735 |
77.291 |
|
TOTAL
|
117.735 |
77.291 |
FIXED ASSETS:
· Leasehold Land
· Building
· Plant and Machinery
· Computers
· Furniture and Fixtures
· Vehicles
· Office Equipment’s
· Electrical Installations
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.61.17 |
|
|
1 |
Rs.100.01 |
|
Euro |
1 |
Rs.83.82 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
36 |
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.