MIRA INFORM REPORT
|
Report Date : |
05.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
METALMAN AUTO PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
E-127, Focal Point, Phase 4, Ludhiana-141010, Punjab |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
03.01.2000 |
|
|
|
|
Com. Reg. No.: |
16-023231 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.26.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U34103PB2000PTC023231 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
NSKM02321E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing of Automobile Parts. |
|
|
|
|
No. of Employees
: |
Information denied by the management. |
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 1510000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. Trade
relations are reported to be usually correct and as per commitments. 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
India is developing into an open-market economy, yet traces of
its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to become
a major exporter of information technology services and software workers. In
2010, the Indian economy rebounded robustly from the global financial crisis -
in large part because of strong domestic demand - and growth exceeded 8%
year-on-year in real terms. However, India's economic growth in 2011 slowed
because of persistently high inflation and interest rates and little progress
on economic reforms. High international crude prices have exacerbated the
government's fuel subsidy expenditures contributing to a higher fiscal deficit,
and a worsening current account deficit. Little economic reform took place in
2011 largely due to corruption scandals that have slowed legislative work.
India's medium-term growth outlook is positive due to a young population and
corresponding low dependency ratio, healthy savings and investment rates, and
increasing integration into the global economy. India has many long-term
challenges that it has not yet fully addressed, including widespread poverty,
inadequate physical and social infrastructure, limited non-agricultural
employment opportunities, scarce access to quality basic and higher education,
and accommodating rural-to-urban migration.
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
A3 + [Letter of Credit and Bank Guarantee] |
|
Rating Explanation |
Moderate degree of safety it carry higher credit risk. |
|
Date |
10.04.2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
BBB [Term Loan] |
|
Rating Explanation |
Moderate degree of safety it carry moderate credit risk. |
|
Date |
10.04.2012 |
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 BY
Management non co-operative. [91-161-4696666 / 91-240-2556573]
LOCATIONS
|
Registered Office : |
E-127, Focal Point, Phase 4, Ludhiana-141010, Punjab, India |
|
Tel. No.: |
91-161-4696666 |
|
Fax No.: |
91-161-4696611 / 4696622 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1 : |
B-30/31, M.I.D.C, Waluj, Aurangabad-431136, Maharashtra, India |
|
Tel. No.: |
91-240-2554367 / 2556573 / 2556574 |
|
Fax No.: |
91-240-2555906 |
|
|
|
|
Factory 2 : |
Shed No. S 4/1,
Sector I, Pithampur District Dhar-454775, Madhya Pradesh, India |
|
Tel. No.: |
91-7292-329696 /
403436 |
|
Fax No.: |
91-7292-253536 |
|
|
|
|
Factory 3 : |
Plot No.116, Sector 3, Pithampur, District Dhar-454775, Madhya
Pradesh, India |
|
Tel. No.: |
91-7292-329494 / 503586 |
|
Fax No.: |
91-7292-256229 |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Navneet Jairath |
|
Designation : |
Managing Director |
|
Address : |
20-J, Sarabha Nagar, |
|
Date of Birth/Age : |
24.01.1950 |
|
Date of Appointment : |
01.04.2010 |
|
Din No.: |
01620652 |
|
|
|
|
Name : |
Mr. Biramjit Bembi |
|
Designation : |
Whole Time Director |
|
Address : |
23-J, Sarabha Nagar, |
|
Date of Birth/Age : |
08.05.1950 |
|
Date of Appointment : |
01.04.2010 |
|
Din No.: |
01677152 |
|
|
|
|
Name : |
Mr. Shekhar Thorat |
|
Designation : |
Whole Time Director |
|
Address : |
10, Chanakya Puri, Shahnoor Wadi, |
|
Date of Birth/Age : |
27.04.1959 |
|
Date of Appointment : |
01.07.2006 |
|
Din No.: |
01649621 |
|
|
|
|
Name : |
Mr. Sachin Bembi |
|
Designation : |
Whole Time Director |
|
Address : |
23-J, Sarabha Nagar, |
|
Date of Birth/Age : |
30.09.1976 |
|
Date of Appointment : |
01.04.2010 |
|
Din No.: |
01654848 |
|
|
|
|
Name : |
Mr. Nishant Jairath |
|
Designation : |
Executive Director |
|
Address : |
20-J, Sarabha Nagar, |
|
Date of Birth/Age : |
22.10.1983 |
|
Date of Appointment : |
01.06.2007 |
|
Din No.: |
01682658 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Navneet Jairath |
|
453000 |
|
Biramjit Bembi |
|
437500 |
|
N.K.J.H.U.F. |
|
125000 |
|
B.B.H.U.F. |
|
55000 |
|
Navita Jairath |
|
265000 |
|
Savita Bembi |
|
390000 |
|
Sachin Bembi |
|
263000 |
|
Nishant Jairath |
|
340500 |
|
Sonia Bembi |
|
154500 |
|
Nisha Jairath |
|
116500 |
|
|
|
|
|
TOTAL
|
|
2600000 |
AS ON 30.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Automobile Parts. |
GENERAL INFORMATION
|
No. of Employees : |
Information denied by the management. |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
State Bank of India, Specialised Commercial Branch, Pahwa Hospital Complex, Miller Ganj, Ludhiana-141001, Punjab, India |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institution : |
Bajaj Finance Limited, Akurdi Pune-411035, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
S.C. Vasudeva and Company Chartered Accountants |
|
Address : |
B-XIX-220, Rani Jhansi Road, Ghumar Mandi, Ludhiana-141001, Punjab,
India |
|
PAN No: |
AABFS5902N |
|
|
|
|
Associates : |
Metalman Micro Tuner ( A Partnership Firm) |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000 Millions |
|
2000000 |
Preferences Shares |
Rs.10/- each |
Rs.20.000 Millions |
|
|
TOTAL
|
|
Rs.50.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2600000 |
Equity Shares |
Rs.10/- each
|
Rs.26.000
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
26.000 |
26.000 |
26.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
353.202 |
293.830 |
246.443 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
379.202 |
319.830 |
272.443 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
297.886 |
238.920 |
97.029 |
|
|
2] Unsecured Loans |
93.114 |
16.935 |
31.443 |
|
|
TOTAL BORROWING |
391.000 |
255.855 |
128.472 |
|
|
DEFERRED TAX LIABILITIES |
40.627 |
28.293 |
21.871 |
|
|
|
|
|
|
|
|
TOTAL |
810.829 |
603.978 |
422.786 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
499.726 |
258.420 |
171.067 |
|
|
Capital work-in-progress |
8.676 |
70.859 |
34.167 |
|
|
|
|
|
|
|
|
INVESTMENT |
38.830 |
37.387 |
43.164 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
141.236
|
108.637 |
51.672 |
|
|
Sundry Debtors |
282.170
|
292.208 |
215.340 |
|
|
Cash & Bank Balances |
10.310
|
14.366 |
16.685 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
186.294
|
83.984 |
79.876 |
|
Total
Current Assets |
620.010
|
499.195 |
363.573 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
174.523
|
177.163 |
102.905 |
|
|
Other Current Liabilities |
176.770
|
82.309 |
56.647 |
|
|
Provisions |
5.120
|
2.411 |
29.633 |
|
Total
Current Liabilities |
356.413
|
261.883 |
189.185 |
|
|
Net Current Assets |
263.597
|
237.312 |
174.388 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
810.829 |
603.978 |
422.786 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
2579.765 |
2235.166 |
1239.433 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
2487.024 |
2158.643 |
1189.803 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
2487.024 |
2158.643 |
1189.803 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
92.741 |
76.523 |
49.630 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
33.369 |
29.136 |
19.692 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
59.372 |
47.387 |
29.938 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
209.606 |
181.168 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
NA |
1.500 |
1.500 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
255.493 |
209.606 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
22.84 |
18.23 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
2.30
|
2.12 |
2.42 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.28
|
10.10 |
9.28 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.24
|
0.23 |
0.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.03
|
0.80 |
0.47 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.74
|
1.91 |
1.92 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY CREDITORS:
|
Particulars |
31.03.2012 (Rs. in millions) |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
|
Sundry Creditors |
174.523
|
177.163 |
102.905 |
|
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 |
|
Unsecured Loan |
As
on 31.03.2012 [Rs.
in Millions] |
As
on 31.03.2011 [Rs.
in Millions] |
|
Loans and advances from directors |
30.513 |
16.935 |
|
Loans and advances from others |
62.601 |
0.000 |
|
TOTAL
|
93.114 |
16.935 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10146691 |
|
Corporate
identity number of the company |
U34103PB2000PTC023231 |
|
Name of the
company |
METALMAN AUTO
PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
E-127, Focal Point, Phase 4, Ludhiana-141010, Punjab, India |
|
Type of charge |
|
|
Particular of
charge holder |
State Bank of India, Specialised Commercial Branch, Pahwa Hospital Complex, Miller Ganj, Ludhiana-141001, Punjab, India Email: baljeetsinghmaan@gmail.com |
|
Nature of
description of the instrument creating or modifying the charge |
1) Company Board
Resolution 2) Sanction
Letter No 149-A dated 30/05/2012 3) Form C.1-A
Supplemental Agreement of Loan for increase in overall limit. 4) Form C.2-A Supplemental
Agreement of Hypothecation of Goods and Assets for increase in the overall
limit. 5) Form C.5
Letter regarding the grant of individual limits within the overall limit. 6) COS 245 7) Form A/B -
Confirmation Letter for creation/extension of charge on immovable property by
way of equitable mortgage. 8) Pari Passu
Letter |
|
Date of
instrument Creating the charge |
24.08.2012 |
|
Amount secured by
the charge |
Rs.467.600
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest W/c. 2.90% above
BR, present effective 12.90% p.a. with monthly rests, TL-I: 3.15% above BR,
present effective 13.15% , TL-II : 2.35% above BR, present effective 12.35 %
p.a. with monthly rests. Terms of Repayment Working Capital :
Repayable on demand Term Loan - I: As
advised vide the respective sanction letters. Term Loan- II:
The term loan of Rs. 270.000 Millions will be repaid in 60 monthly
installments starting from 30th April 2013 of Rs. 4.500 Millions each. Margin 1. Cash Credit
(Hypothecation) 25% 2.
Receivables 40% 3. ILC/FLC 20% 4. Term Loan 23.98% 5. EBUC 25% Extent and Operation of the charge Extent and
operation of the charge is 100%, however
First pari passu charge on all the current assets (both present and
future) of the Company, including raw materials, consumable stores and spares,
stock in process finished goods, bills, book debts and receivables, with Citi
Bank Others Nature of
Facilities Limits Rs. in Millions 1. CC Hypothecation : Rs. 30.000 2. CC B D. : Rs. 70.000 3. EPC/PCFC :(Rs. 40.000) 4. EBP(Non
LC)/EBR/EBUC:(Rs. 40.000) 5. Term
Loan-I : Rs. 77.600 6. Term
Loan-II : Rs.
270.000 7. ILC/FLC : Rs. 20.000 TOTAL : Rs. 467.600 Millions |
|
Short particulars
of the property charged |
Primary Security:
W/C: First pari passu charge on all the current assets (both present and
future) of the Co., including raw materials, consumable stores and spares,
stock in process finished goods, bills, book debts and receivables, with Citi
Bank. For Term Loan :
First charge on the entire fixed assets of the Co. ( both present and future
including: a) Equitable mortgage of
leasehold rights of commercial land at plot # S-4/2, Sector-I, Industrial
Area, Pithampur, Tehsil and District Dhar, M.P., msg. 8970 sq. Yards. b) Equitable mortgage of
leasehold rights of Industrial land at plot # 116, Sector-III, Industrial
Area, Pithampur, Tehsil and District Dhar, M.P., msg. 14722.64 sq. yards. c)
Equitable mortgage of leasehold rights of Industrial land at plot # 30 and
31, Waluj Industrial Area Village
Waladgaon, Taluka and District Aurangabad, Maharashtra, msg. 10165.92 sq. mt.
d) Equitable mortgage of leasehold rights of Industrial land at plot no B-17,
Waluj Industrial Area Village Kamlapur,
Taluka Gangapur District Aurangabad, Maharashtra, msg. 8100 sq. mt. e)
Equitable mortgage of leasehold rights of Industrial land at plot no C- 126,
Waluj Industrial Area Village
Waladgaon, Taluka and District Aurangabad, Maharashtra, msg. 1800 sq. mt. f)
Equitable mortgage of leasehold rights of Industrial land at plot no B- 12,
Waluj Industrial Area Village
Waladgaon, Taluka and District Aurangabad, Maharashtra, msg. 26750 sq. mt. Collateral Security: For W/C: Extension of
2nd pari passu charge on residual value of fixed assets (Present and
future) of the Co. with Citi Bank.
For T/L : Extension of 2nd charge on entire current assets ( present
and future) |
|
Date of latest
modification prior to the present modification |
15.09.2011 |
|
Particulars of
the present modification |
Total credit
facilities enhanced to Rs. 467.600 Millions. Nature of
Facilities Limits Rs. in Millions 1. CC Hypothecation : Rs. 30.000 2. CC B D. : Rs. 70.000 3. EPC/PCFC :(Rs. 40.000) 4. EBP (Non
LC)/EBR/EBUC :( Rs. 40.000) 5. Term
Loan-I : Rs. 77.600 6. Term Loan-II : Rs. 270.000 7. ILC/FLC : Rs. 20.000 |
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.52.97 |
|
|
1 |
Rs.83.17 |
|
Euro |
1 |
Rs.72.20 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Report Prepared
by : |
TPT |
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 |
6 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
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 |
|
- |
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.