|
Report Date : |
16.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
RAMESHWAR TEXTILE MILLS LIMITED (w.e.f. 24.04.2007) |
|
|
|
|
Formerly Known
As : |
RAMESHWAR TEXTILE MILLS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
71-73, Old Hanuman Lane Kalbadevi Road, Shah Bhavan, Mumbai – 400002,
Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of Incorporation
: |
18.08.1988 |
|
|
|
|
Com. Reg. No.: |
11-048546 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 44.200 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17110MH1988PLC048546 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACR2714D |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Processing on Grey Cloth on job basis and trading in finished cloth. |
|
|
|
|
No. of Employees
: |
Information Decline by the management |
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 1300000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. Trade
relations are reported as fair. Business is active. Payments are reported to
be usually correct and as per commitment. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
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 |
CRISIL |
|
Rating |
SME=2 |
|
Rating Explanation |
High credit quality and very low credit
risk. |
|
Date |
28.02.2013 |
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 DENIED BY
|
Name : |
Mr. Rajesh Bansal |
|
Designation : |
Director |
|
Contact No.: |
91-261-2399193 |
|
Date : |
14.12.2013 |
LOCATIONS
|
Registered Office : |
71-73, Old Hanuman Lane Kalbadevi Road, Shah Bhavan, Mumbai – 400002,
Maharashtra, India |
|
Tel. No.: |
91-261-2399193 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
|
|
|
Branch Office : |
Plot No. 827, GIDC, Sachin Surat – 394230, Gujarat, India |
|
Tel. No.: |
91-261-2399193/ 194 |
|
Fax No.: |
91-261-2399193 |
|
E-Mail : |
DIRECTORS
As on: 30.09.2013
|
Name : |
Mr. Sanjaykumar Sudrania |
|
Designation : |
Whole-time director |
|
Address : |
A/501, Om Darshan, R.C.C. Cenal Road, B/s. Swastik Rec, Bharthana, Vesu, Surat – 395007, Gujarat, India |
|
Date of Birth/Age : |
07.07.1968 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
01.02.2005 |
|
PAN No.: |
AEDPS0951B |
|
DIN No.: |
00083890 |
|
|
|
|
Name : |
Mr. Rajeshkumar Rameshwardayal Bansal |
|
Designation : |
Managing director |
|
Address : |
2 B, Anjansalaka Lal Bunglow, Parle Point, Surat – 395007, Gujarat, India |
|
Date of Birth/Age : |
07.09.1970 |
|
Qualification : |
B.E.MECHANICAL |
|
Date of Appointment : |
05.03.2002 |
|
PAN No.: |
AERPB3734M |
|
DIN No.: |
00083935 |
|
|
|
|
Name : |
Mr. Rajivkumar Narayandas Batra |
|
Designation : |
Director |
|
Address : |
13, G F Swarg Swapan Society, Near Suyog Nagar Society, Bhatar Road,, Surat – 395001, Gujarat, India |
|
Date of Birth/Age : |
01.04.1966 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
14.08.2002 |
|
PAN No.: |
ABBPB7505M |
|
DIN No.: |
00094018 |
|
|
|
|
Name : |
Mr. Yudhishthir Narayandas Batra |
|
Designation : |
Director |
|
Address : |
14, Swargswapna Society, Bhatar Road, Surat – 395017, Gujarat, India |
|
Date of Birth/Age : |
03.04.1955 |
|
Date of Appointment : |
23.09.2011 |
|
DIN No.: |
01043722 |
|
|
|
|
Name : |
Mr. Bikash Agarwal |
|
Designation : |
Whole-time director |
|
Address : |
A/301, Om Darshan Apartment, R.C. Canal Road, Opposite Podar Residency, Bharthana, Vesu, Surat – 395007, Gujarat, India |
|
Date of Birth/Age : |
29.09.1981 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
14.07.2009 |
|
PAN No.: |
ADKPA2936L |
|
DIN No.: |
02714932 |
|
|
|
|
Name : |
Mr. Vinita Pramod Deokar |
|
Designation : |
Additional director |
|
Address : |
G-501, Shiv Campus., H.P. Road, Surat – 395009, Gujarat, India |
|
Date of Birth/Age : |
09.09.1977 |
|
Date of Appointment : |
19.06.2013 |
|
DIN No.: |
02728748 |
|
|
|
|
Name : |
Mr. Srinivasulu Vallepu |
|
Designation : |
Additional director |
|
Address : |
Plot No. 404, Grand Kakatiya Residency, Ram Nagar, Anantapur – 515004, Andhra Pradesh, India |
|
Date of Birth/Age : |
01.06.1981 |
|
Date of Appointment : |
19.06.2013 |
|
DIN No.: |
06419911 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2013
SHAREHOLDERS DETAILS FILES ATTACHED
As on: 30.10.2013
|
Names of Allottees |
|
No. of Allottees
|
|
Arrowlink Overseas Private Limited |
|
136960 |
|
Tarun Daryani |
|
34240 |
|
|
|
|
|
Total |
|
171200 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2013
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
29.58 |
|
Directors or relatives of directors |
|
56.42 |
|
Other top fifty shareholders |
|
14.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Processing on Grey Cloth on job basis and trading in finished cloth. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information Decline by the management |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
· The Karur Vysya Bank Limited, 103-114, Belgium Square, Silver Plaza Complex, Delhi Gate, Ring Road, Surat - 395003, Gujarat, India · State Bank Of India, Mid Corporate Group Commercial Branch, Paramsiddhi Complex, Ellisbridge, Ahmedabad - 380006, Gujarat, India |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Padam Chaudhary and Associates Chartered Accountants |
|
Address : |
4003, Shree Mahavir Textile Market, Ring Road, Surat-395002, Gujarat, India |
|
PAN No.: |
AAMPC2200N |
CAPITAL STRUCTURE
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6500000 |
Equity Shares |
Rs.10/- each |
Rs. 65.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4420030 |
Equity Shares |
Rs.10/- each |
Rs. 44.200
Millions |
|
|
|
|
|
As on: 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6500000 |
Equity Shares |
Rs.10/- each |
Rs. 65.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5121180 |
Equity Shares |
Rs.10/- each |
Rs. 51.211 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 |
44.200 |
41.577 |
39.267 |
|
(b) Reserves & Surplus |
284.188 |
255.217 |
226.384 |
|
(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) |
328.388 |
296.794 |
265.651 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
65.948 |
12.548 |
13.351 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(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) |
65.948 |
12.548 |
13.351 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
23.685 |
20.759 |
0.000 |
|
(b)
Trade payables |
546.668 |
214.358 |
202.337 |
|
(c) Other
current liabilities |
23.380 |
5.958 |
15.871 |
|
(d) Short-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
593.733 |
241.075 |
218.208 |
|
|
|
|
|
|
TOTAL |
988.069 |
550.417 |
497.210 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
100.535 |
110.768 |
117.706 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
28.212 |
23.176 |
14.413 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
139.327 |
22.147 |
24.068 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
268.074 |
156.091 |
156.187 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
77.658 |
49.562 |
59.060 |
|
(c)
Trade receivables |
581.804 |
269.635 |
208.771 |
|
(d) Cash
and cash equivalents |
3.968 |
3.706 |
31.133 |
|
(e)
Short-term loans and advances |
56.565 |
71.423 |
42.059 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
719.995 |
394.326 |
341.023 |
|
|
|
|
|
|
TOTAL |
988.069 |
550.417 |
497.210 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1965.437 |
1151.926 |
937.418 |
|
|
|
Other Income |
70.822 |
52.091 |
57.260 |
|
|
|
TOTAL (A) |
2036.259 |
1204.017 |
994.678 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
873.197 |
797.263 |
354.873 |
|
|
|
Purchases of stock-in-trade |
505.040 |
73.437 |
393.871 |
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(4.270) |
(13.395) |
(9.545) |
|
|
|
Employee benefit expense |
80.976 |
38.520 |
38.583 |
|
|
|
Other expenses |
544.678 |
284.356 |
195.337 |
|
|
|
TOTAL (B) |
1999.621 |
1180.181 |
973.119 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
36.638 |
23.836 |
21.559 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
9.452 |
4.329 |
3.826 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
27.186 |
19.507 |
17.733 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
9.209 |
9.571 |
9.211 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
17.977 |
9.936 |
8.522 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
4.748 |
1.894 |
1.558 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
13.229 |
8.042 |
6.964 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
70.650 |
62.608 |
55.644 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
83.879 |
70.650 |
62.608 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
966.284 |
793.947 |
616.405 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.99 |
1.93 |
1.77 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.65 |
0.67 |
0.70 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.91 |
0.86 |
0.91 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.20 |
1.97 |
1.86 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06 |
0.03 |
0.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.27 |
0.11 |
0.05 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.21 |
1.63 |
1.56 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF
LONG-TERM DEBT DETAILS
|
Particulars |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
Current maturities of long-term debt |
0.000 |
0.803 |
15.686 |
|
|
|
|
|
|
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 |
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) |
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
UNSECURED LOAN
(Rs.
In Millions)
|
Particular |
As on 31.03.2013 |
As on 31.03.2012 |
|
Short term
borrowings |
|
|
|
Other loans and advances |
14.560 |
7.000 |
|
|
|
|
|
Total |
14.560 |
7.000 |
THE YEAR IN RETROSPECT
AND FUTURE OUTLOOK:
During the year turnover and profitability of the company have increased as compared to the previous year. The company has achieved the total sales revenue stands of Rs. 1965.437 Millions during the year as against Rs. 1151.926 Millions in the previous year. Also, the net profit after tax of the company has increased to Rs. 13.230 Millions as against Rs. 8.042 Millions in the previous year. The performance of company in international market has remained splendid and company has reported healthy export turnover. The management is taking various initiatives in the areas of efficient management, timely and prudence decision making, better marketing and business promotion, monitoring changing market trends to reap more beneficial results.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10384440 |
15/09/2012 |
644,700,000.00 |
STATE BANK OF INDIA |
MID CORPORATE GROUP COMMERCIAL BRANCH, PARAMSIDDHI COMPLEX, ELLISBRIDGE, AHMEDABAD, GUJARAT - 380006, INDIA |
B61345344 |
|
2 |
10155751 |
25/03/2009 |
13,800,000.00 |
KARUR VYSYA BANK |
BELGIUM SQUARE, RING ROAD, SURAT, GUJARAT - 395002, INDIA |
A61494415 |
|
3 |
90348717 |
03/09/2012 * |
102,210,000.00 |
THE KARUR VYSYA BANK LIMITED |
103-114, BELGIUM SQUARE, SILVER PLAZA COMPLEX, D |
B60796448 |
|
4 |
90347266 |
20/10/2012 * |
103,460,000.00 |
THE KARUR VYSYA BANK LIMITED |
103-114, BELGIUM SQUARE, SILVER PLAZA COMPLEX, D |
B61950168 |
* Date of charge modification
FIXED ASSETS
· Land and Buildings
· Factory building
· Plant and equipment
· Factory Equipments
· Furniture and fixtures
· 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. 62.12 |
|
|
1 |
Rs. 101.53 |
|
Euro |
1 |
Rs. 85.41 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--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.