|
Report Date : |
24.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
MAHOTSAV CREATION PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
House No.6, Rathi Palace, Ring Road, Surat – 395 002, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
29.09.2004 |
|
|
|
|
Com. Reg. No.: |
04-044825 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.13.198
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17111GJ2004PTC044825 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in business of manufacturing and trading of Art
Silk Cloths. |
|
|
|
|
No. of Employees
: |
300 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 854000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The rating reflects the company modest scale of operations with low profitability
in the intensely competitive industry and its large working capital
requirements. However, trade relations are fair. Business is active. Payment terms
are slow but correct. The company can be considered for business dealing 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.
ECGC Country Risk Classification List – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very
High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
Uptick in
agriculture and construction spread some cheer as the economy grew a
higher-than-expected 4.8 % in the three months through September. Manufacturing
rose an annual rate per cent during the quarter and mining fell by 0.4 %,
government data showed while farm output rose 46%.
India has emerged as
the most attractive investment destination, thanks to a relaxation in foreign direct
investment norms, says a report. India is followed by Brazil and China in the
ranking part of EY’s Capital Confidence Barometer report based on a survey
across 70 nations. The US, France and Japan have emerged as the top
three investors likely to invest in India.
India has been
ranked 83rd globally in terms of talent competitiveness of its human
capital. Switzerland, Singapore, Denmark, Sweden and Luxembourg are the
top five in the list of 103 nations compiled by INSEAD business school.
Tax rates for
companies in India are among the highest in the world and the number of
payments is also more than the global average putting the country at low, 158th
rank on the Paying Taxes. 2014 list by the World Bank and PWC. However, the
time taken for tax payments is relatively less in India which is rated ahead of
China and Japan.
1 billion smartphone
shipments in 2013, a 39.3 % growth over 2012. This was being driven by low cost
computing in emerging markets. By 2017, total smartphone shipments are expected
to approach 1.7 billion units, resulting in a compound annual growth rate of
18.4 % between 2013 and 2017, according to research from IDC.
20 % vacancy rate of
office space in Mumbai and Delhi in the third quarter, the highest in Asia
after Chengdu, in China. According to Cushman and Wakefield, six Indian cities
are among the 10 office markets with the worst vacancies.
Foreign banks will
not have to pay stamp duty and capital gains tax, if they convert their branch
operations into a wholly owned subsidiary, according to the Reserve Bank of
India.
The Reserve Bank of
India is planning to launch CPI – indexed bonds aimed to protecting the savings
of retail investors from the impact the price rise by December end.
Central Bureau of
Investigation has booked State Bank of India, Deputy Managing Director Shyamal
Acharya and others in a graft case related to distribution of a loan of over Rs
4000 mn. Gold and jewellery worth Rs 6.7 mn have been recovered from the
residence of Acharya.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating: BB |
|
Rating Explanation |
Moderate risk of default high credit risk. |
|
Date |
February 05, 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
|
Name : |
Mr. Mitesh Sanghani |
|
Designation : |
Department Head |
|
Contact No.: |
91-9714007014 |
|
Date : |
05.12.2013 |
LOCATIONS
|
Registered Office : |
House No.6, Rathi Palace, Ring Road, Surat – 395 002, Gujarat, India |
|
Tel. No.: |
91-261-2346704/ 3271825 |
|
Mobile No.: |
91-9714007014 (Mr. Mitesh Sanghani) |
|
Fax No.: |
91-261-2334888 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
800 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Factory 1 : |
Plot No.6, Hi-Tech Park, GIDC, Pandesara, Surat, Gujarat, India |
|
|
|
|
Factory : |
Also located at: ·
Kolkata ·
Delhi |
|
|
|
|
Sales Office : |
Block No.5, Rathi Palace, Ring Road, Surat – 395 002, Gujarat, India |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Nareshkumar Sohanlal Chopra |
|||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||
|
Address : |
Flat No. C-705, Surya Complex, City Light, |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
26.10.1976 |
|||||||||||||||||||||||||||
|
Qualification : |
HSC |
|||||||||||||||||||||||||||
|
Date of Appointment : |
29.09.2004 |
|||||||||||||||||||||||||||
|
DIN No.: |
00526774 |
|||||||||||||||||||||||||||
|
Other Directorship :
|
||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Name : |
Mr. Sohan Lal Chopra |
|||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||
|
Address : |
Flat No. C-705, Surya Complex, City Light, |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
04.08.1954 |
|||||||||||||||||||||||||||
|
Qualification : |
SSC |
|||||||||||||||||||||||||||
|
Date of Appointment : |
22.01.2007 |
|||||||||||||||||||||||||||
|
DIN No.: |
01297627 |
|||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Mitesh Sanghani |
|
Designation : |
Department Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Parmeshwaridevi |
40750 |
3.09 |
|
Narendra Kumar Lunkar |
40000 |
3.03 |
|
Sangeeta N. Chopra |
21400 |
1.62 |
|
Nareshkumar S. Chopra |
19900 |
1.51 |
|
Sohanlal G. Chopra |
3100 |
0.23 |
|
Dilip Kumar Chopra |
100 |
0.01 |
|
Nareshkumar Chopra (HUF) |
100 |
0.01 |
|
Kumkum Suppliers Private Limited |
787500 |
59.67 |
|
Mohvogue Apparels Private Limited |
151000 |
11.44 |
|
USG Financial Services Private Limited |
30000 |
2.27 |
|
Vikram Property and Merchandise Private Limited |
30000 |
2.27 |
|
Art Line Fiscal Services Limited |
20000 |
1.52 |
|
Ganga Vinimay Private Limited |
20000 |
1.52 |
|
Laziz Marketing Private Limited |
20000 |
1.52 |
|
Niketan Merchants Private Limited |
20000 |
1.52 |
|
Karunamayee Vanijya Private Limited |
10000 |
0.76 |
|
Laxmipati Mercantile Private Limited |
10000 |
0.76 |
|
Ras Raj Marketing Private Limited |
10000 |
0.76 |
|
Snehil Vyapaar Private Limited |
10000 |
0.76 |
|
Vijay Chopra |
64000 |
4.85 |
|
Murari Sultania |
10000 |
0.76 |
|
Manju Vijay Abbani |
250 |
0.02 |
|
Manak Chand Sethia |
200 |
0.02 |
|
Poonamchand Deswali |
200 |
0.02 |
|
Anurag Umesh Surekha |
100 |
0.01 |
|
Gopal Prasad Khetan HUF |
100 |
0.01 |
|
Kantilal Bhanwarlal Danti |
100 |
0.01 |
|
Moolchand Raghunathmal |
100 |
0.01 |
|
Moolchand Raghunathmal (HUF) |
100 |
0.01 |
|
Nathmal Tulsyan |
100 |
0.01 |
|
Pradeep Kumar Sharma |
100 |
0.01 |
|
Rajgopal J. Malpani |
100 |
0.01 |
|
Ramawtar Sharma |
100 |
0.01 |
|
Richa Surekha |
100 |
0.01 |
|
Sunil Agarwal (HUF) |
100 |
0.01 |
|
Sunil Kumar Agarwal |
100 |
0.01 |
|
Vimladevi |
100 |
0.01 |
|
Total
|
1319800 |
100.00 |
AS ON 30.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
84.75 |
|
Directors
or relatives of directors |
|
9.50 |
|
Other
top fifty shareholders |
|
5.75 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in business of manufacturing and trading of Art
Silk Cloths. |
|
|
|
|
Products : |
· Designer Sarees · Traditional Sarees · Embroidered Sarees · Fancy Work Saree · Fancy Saree · Light Party Wear Sarees · Bridal Sarees · Modern Bridal |
|
|
|
|
Brand Names : |
·
MOH-MANTHAN ·
MOH
MAYA |
|
|
|
|
Exports : |
|
|
Products : |
·
Finished Goods |
|
Countries : |
·
South Africa ·
Canada ·
USA |
|
|
|
|
Imports : |
|
|
Products : |
·
Raw Materials |
|
Countries : |
·
China ·
Kenya |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
No. of Employees : |
300 (Approximately) |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Bankers : |
Oriental Bank of
Commerce, Jash Textile Market, Ring Road, Surat – 395 002, Gujarat, India
(Tel. No.: 91-261-2322390) |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Pradeep K. Singhi and Associates Chartered Accountants |
|
Address : |
A-501, President Plaza, Near R.T.O., Ring Road, Nanpura, Surat – 395
001, Gujarat, India |
|
Tel. No.: |
91-261-2474714/ 2474954 |
|
PAN No.: |
AAHFP8463D |
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1500000 |
Equity Shares |
Rs.10/- each |
Rs.15.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1319800 |
Equity Shares |
Rs.10/- each
|
Rs.13.198
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 |
13.198 |
13.198 |
12.053 |
|
(b) Reserves & Surplus |
200.238 |
197.656 |
170.023 |
|
(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) |
213.436 |
210.854 |
182.076 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
17.947 |
30.438 |
12.185 |
|
(b) Deferred tax liabilities (Net) |
0.323 |
0.000 |
0.601 |
|
(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) |
18.270 |
30.438 |
12.786 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
219.820 |
117.688 |
32.391 |
|
(b)
Trade payables |
46.422 |
83.101 |
107.954 |
|
(c)
Other current liabilities |
2.368 |
4.651 |
4.061 |
|
(d) Short-term
provisions |
2.182 |
2.236 |
1.190 |
|
Total Current
Liabilities (4) |
270.792 |
207.676 |
145.596 |
|
|
|
|
|
|
TOTAL |
502.498 |
448.968 |
340.458 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
41.495 |
38.313 |
30.963 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
8.290 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
1.118 |
0.000 |
|
(d) Long-term Loan and Advances |
0.932 |
1.183 |
1.000 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
50.717 |
40.614 |
31.963 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
134.593 |
126.803 |
168.924 |
|
(c)
Trade receivables |
298.210 |
265.366 |
133.413 |
|
(d) Cash
and cash equivalents |
13.942 |
1.949 |
2.553 |
|
(e)
Short-term loans and advances |
5.036 |
14.236 |
3.605 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
451.781 |
408.354 |
308.495 |
|
|
|
|
|
|
TOTAL |
502.498 |
448.968 |
340.458 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
795.477 |
747.451 |
443.760 |
|
|
|
Other Income |
0.014 |
0.020 |
0.015 |
|
|
|
TOTAL (A) |
795.491 |
747.471 |
443.775 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
40.952 |
54.122 |
25.079 |
|
|
|
Purchases of stock-in-trade |
270.828 |
173.622 |
134.975 |
|
|
|
Changes in inventories of finished goods, work-in-progress |
(9.028) |
45.112 |
(121.283) |
|
|
|
Employee Benefit Expenses |
25.741 |
23.147 |
11.893 |
|
|
|
Other Expenses |
444.620 |
434.928 |
383.395 |
|
|
|
TOTAL (B) |
773.113 |
730.931 |
434.059 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
22.378 |
16.540 |
9.716 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
11.981 |
7.556 |
3.082 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
10.397 |
8.984 |
6.634 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
4.088 |
3.339 |
3.476 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
6.309 |
5.645 |
3.158 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
3.727 |
(0.233) |
1.374 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
2.582 |
5.878 |
1.784 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
1.96 |
4.45 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.32
|
0.79 |
0.40 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.79
|
0.76 |
0.71 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.28
|
1.26 |
0.93 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03
|
0.03 |
0.02 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.11
|
0.70 |
0.24 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.67
|
1.97 |
2.12 |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
Yes |
|
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 Loans |
31.03.2013 (Rs. in Millions) |
31.03.2012 (Rs. in Millions) |
|
LONG TERM BORROWINGS |
|
|
|
Unsecured Loans |
13.522 |
28.340 |
|
Total |
13.522 |
28.340 |
INDEX OF CHARGES:
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10290002 |
20/06/2011 * |
35,298,000.00 |
ORIENTAL BANK OF
COMMERCE |
JASH TEXTILE
MARKET, RING ROAD, SURAT, GUJARAT - |
B15137334 |
|
2 |
10170914 |
22/11/2013 * |
197,500,000.00 |
ORIENTAL BANK OF
COMMERCE |
JASH TEXTILE
MARKET, RING ROAD, SURAT, GUJARAT |
B90055443 |
|
3 |
10170915 |
22/11/2013 * |
213,624,000.00 |
ORIENTAL BANK OF
COMMERCE |
JASH TEXTILE MARKET,
RING ROAD, SURAT, GUJARAT |
B90054834 |
* Date of charge modification
Note:
The Registered Office of the company has been shifted from J-501, J.J.
Account Market, Ring Road, Surat – 395 002, Gujarat, India, to the present address
w.e.f. 27.12.2006.
FIXED ASSETS:
·
Plot
·
Building
·
Computer
·
Plant and Machinery
·
Air Conditioner
·
Furniture and Fixture
·
Office Equipment
·
Motor Cycle
·
Motor Car
·
Rathi Palace Houses
·
Electronic Equipment
·
Weighing Scale
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.61.99 |
|
|
1 |
Rs.101.37 |
|
Euro |
1 |
Rs.84.82 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
30 |
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.