MIRA
INFORM REPORT
|
Report Date : |
13.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
MOHINI FIBERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
105, Apollo Avenue, 30 B Old Palasia, Near Nafees Hotel, Indore-452
018, Madhya Pradesh |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
24.06.2009 |
|
|
|
|
Com. Reg. No.: |
10-022058 |
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Capital
Investment / Paid-up Capital : |
Rs. 11.600 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17300MP2009PTC022058 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Yarns Threads,
Fabrics Textiles. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 100000 |
|
|
|
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Slow But Correct |
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|
Litigation : |
Clear |
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|
Comments : |
Subject is an established company having moderate track record. Profit
margin of the company is low. There also appears some dip in the turnover and
profitability of the company during 2012, which is due to recession in
textile industry. However, 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.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
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
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 |
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.
LOCATIONS
|
Registered Office : |
105, Apollo Avenue, 30 B Old Palasia, Near Nafees Hotel, Indore-452
018, Madhya Pradesh, India |
|
Tel. No.: |
91-731-4010051 / 57 |
|
Fax No.: |
91-731-4010053 |
|
E-Mail : |
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|
Website : |
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|
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|
Factory : |
Plot No. 109, Sector 3, Industrial Area, Pitampur District Dhar,
Madhya Pradesh, India |
|
Tel. No.: |
91-7292-412121 / 23 |
|
Fax No.: |
91-7292-412120 |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Snehakar Bansal |
|
Designation : |
Director |
|
Address : |
58, Classic Purnima Raw House, Main Khajrana Road, Indore-452018,
Madhya Pradesh, India |
|
Date of Appointment : |
24.06.2009 |
|
DIN No.: |
00058660 |
|
|
|
|
Name : |
Mr. Sarvapriya Bansal |
|
Designation : |
Director |
|
Address : |
201, Rivoli Apartment, 135, Baikubtgdham, Indore-452001, Madhya
Pradesh, India |
|
Date of Appointment : |
24.06.2009 |
|
DIN No.: |
02540139 |
|
|
|
|
Name : |
Mr. Avnish Bansal |
|
Designation : |
Director |
|
Address : |
201, Rivoli Apartment, 135, Baikubtgdham, Indore-452001, Madhya
Pradesh, India |
|
Date of Appointment : |
24.06.2009 |
|
DIN No.: |
02666814 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
No. of Shares |
|
Avnish Bansal |
368000 |
|
Tarang Gagneja |
24500 |
|
Sainath (Partnership firm) |
2500 |
|
Snehkar Bansal |
125000 |
|
Savapriya Bansal |
240000 |
|
Bangtesh Enterprises Private Limited, India |
40000 |
|
Panchghat Commercial Private Limited, India |
30000 |
|
Matribhumi Vyapar Private Limited, India |
30000 |
|
T. C. Agarwal and Sons |
40000 |
|
A.R.P. Securities Private Limited, India |
25000 |
|
Navkar Abhikaran Private Limited, India |
25000 |
|
Elbert Reality Private Limited, India |
150000 |
|
Span Amusement Private Limited, India |
40000 |
|
Sea Entertainment Private Limited, India |
20000 |
|
TOTAL
|
1160000 |
AS ON 29.09.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Bodies corporate |
30.17 |
|
Directors or relatives of Directors |
63.19 |
|
Other top fifty shareholders |
6.64 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Yarns Threads,
Fabrics Textiles. |
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Products : |
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PRODUCTION STATUS (AS ON : 31.03.2012)
|
Particulars |
Unit |
31.03.2012 |
|
Licensed and
Installed Capacity |
MT |
3000 |
|
|
|
|
|
Actual
Production |
|
|
|
Processed Cotton |
MT |
1371.31 |
|
Processed Cotton Latice |
MT |
78.86 |
GENERAL INFORMATION
|
Suppliers : |
·
Janseva Cotton Waste Company ·
Kamal Cotspin Private Limited ·
Sheikh Zakir and Company ·
Shree Creative Marketing ·
Dei Gratia Logistics Private Limited ·
Sea Stat Shipping Services ·
S J Logistics (India) Private Limited ·
Tirupati Enterprises ·
Tiger Logistics (India) Private Limited |
|||||||||||||||||||||||||||||||||
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No. of Employees : |
Not Available |
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|||||||||||||||||||||||||||||||||
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Bankers : |
·
Axis Bank ·
Bank of India ·
HSBC Bank ·
State Bank of Indore ·
Dena Bank ·
ICICI Bank ·
HDFC bank |
|||||||||||||||||||||||||||||||||
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Facilities : |
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Banking
Relations : |
-- |
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|
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Financial Institution : |
Madhya Pradesh Financial Corporation, Capital Market Division, Navratan
Bagh, Opposite ST. Paul Primary School, Indore-452001, Madhya Pradesh, India |
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|
|
|
Auditors : |
|
|
Name : |
N. K. Dafria Chartered Accountant |
|
Address : |
218-B, Bansi Trade Centre, 581, M. G. Road, Indore-452001, Madhya
Pradesh, India |
|
Tel. No.: |
91-731-4069644 / 4066767 |
|
E-Mail : |
|
|
PAN No.: |
AAXPD5103G |
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 |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1160000 |
Equity Shares |
Rs.10/- each |
Rs. 11.600
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 |
11.600 |
11.000 |
9.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
14.451 |
8.746 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
26.051 |
19.746 |
9.000 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
54.989 |
43.344 |
35.536 |
|
|
2] Unsecured Loans |
3.644 |
8.051 |
7.200 |
|
|
TOTAL BORROWING |
58.633 |
51.395 |
42.736 |
|
|
DEFERRED TAX LIABILITIES |
2.224 |
1.413 |
0.527 |
|
|
|
|
|
|
|
|
TOTAL |
86.908 |
72.554 |
52.263 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
40.573 |
37.712 |
34.144 |
|
|
Capital work-in-progress |
5.810 |
1.181 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.480 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
4.887
|
18.136 |
6.774 |
|
|
Sundry Debtors |
37.741
|
18.868 |
16.709 |
|
|
Cash & Bank Balances |
1.424
|
0.786 |
0.553 |
|
|
Other Current Assets |
4.278
|
6.533 |
2.671 |
|
|
Loans & Advances |
10.573
|
9.374 |
3.738 |
|
Total
Current Assets |
58.903
|
53.697 |
30.445 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
3.506
|
7.673 |
10.285 |
|
|
Other Current Liabilities |
14.030
|
11.770 |
1.627 |
|
|
Provisions |
1.322
|
0.593 |
0.594 |
|
Total
Current Liabilities |
18.858
|
20.036 |
12.506 |
|
|
Net Current Assets |
40.045
|
33.661 |
17.939 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.130 |
|
|
Reserves and Surplus |
0.000 |
0.000 |
0.050 |
|
|
|
|
|
|
|
|
TOTAL |
86.908 |
72.554 |
52.263 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
285.757 |
318.486 |
34.629 |
|
|
|
Other Income |
8.728 |
1.239 |
0.186 |
|
|
|
Job Work |
8.692 |
3.012 |
0.288 |
|
|
|
Duty Drawback |
0.000 |
0.000 |
0.130 |
|
|
|
TOTAL (A) |
303.177 |
322.737 |
35.233 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
237.381 |
|
33.035 |
|
|
|
Purchased of stock in trade |
6.788 |
191.229 |
|
|
|
|
Employee benefit expense |
7.268 |
4.464 |
|
|
|
|
Other expenses |
25.173 |
24.363 |
|
|
|
|
Extraordinary Items |
0.000 |
0.098 |
|
|
|
|
Changes inventories of finished goods, work in progress and stock in
trade |
12.307 |
(9.378) |
|
|
|
|
TOTAL (B) |
288.917 |
306.998 |
33.035 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
14.260 |
15.739 |
2.198 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
7.655 |
7.421 |
1.397 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
6.605 |
8.318 |
0.801 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.535 |
1.342 |
0.236 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
5.070 |
6.976 |
0.565 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.765 |
2.180 |
0.615 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
3.305 |
4.796 |
(0.050) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
NA |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
NA |
(0.050) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.85 |
4.36 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.09
|
1.49 |
(0.14) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.77
|
2.19 |
1.63 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.10
|
7.63 |
0.87 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19
|
0.35 |
0.06 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.25
|
2.60 |
4.75 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.12
|
2.68 |
2.43 |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
No |
|
17] |
Major suppliers |
Yes |
|
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] |
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 |
No |
|
Unsecured Loan |
Rs.
In Millions 31.03.2012 |
Rs.
In Millions 31.03.2011 |
|
Long Term
Borrowings |
|
|
|
From Directors |
0.000 |
1.400 |
|
From Shareholders |
0.500 |
3.451 |
|
Inter corporate Loan |
0.500 |
0.500 |
|
From Others |
2.644 |
2.700 |
|
|
|
|
|
TOTAL |
3.644 |
8.051 |
NOTE
Registered office has been shifted from 202, Rivoli Apartment, 135, Baikubtgdham,
Indore-452001, Madhya Pradesh, India to the present address w.e.f. 01.03.2011.
OPERATING RESULTS
AND
OUTLOOK
During the year,
the gross revenue of the Company was Rs. 294.449 Millions as compared to Rs.
321.497 Millions in the previous year. The profit after tax for the year was
Rs. 3.305 Millions as compared to previous year Rs. 4.796 Millions. The
financial performance has gone down slightly due to recession in textiles
industry. The future prospect of the company seems to be bright.
The Directors
however regret to inform that there was a major fire in the plant on February
8, 2012. There were no casualties or any injury to any person. The Directors
express their gratitude and thanks to all the nearby industries and State
Government Authorities for rendering help and assistance in mitigating the
fire, who immediately rushed to the site and provided logistic and
administrative support in such an emergency. The Company has lodged a fire
claim with the Insurance Company.
OUTLOOK
Cotton is the most
commonly used fiber. It accounts for about 40 percent of total world fiber
production. Raw Cotton is considered as one of the most important factor
affecting product costs in textile industry. The Company has initiated to
produce recycled cotton with the aim to cater to the increasing demand for this
popular fiber and to achieve optimal utilization along with socio economic
advantages. The company has core competency in providing an alternate fiber
source to textile industry in substitute to comber noil and short staple raw
cotton like V797, kalyan, Y1 ,Yellow picking etc.
FORM 8
|
Corporate
identity number of the company |
U17300MP2009PTC022058 |
|
Name of the
company |
MOHINI FIBERS
PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
105, Apollo Avenue, 30 B Old Palasia, Near Nafees Hotel, Indore-452 018, Madhya Pradesh, India |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the charge to be modified |
10189083 |
|
Type of charge |
·
Immovable
property ·
Movable
property (not being pledge) |
|
Particular of
charge holder |
Madhya Pradesh Financial Corporation, Capital Market Division, Navratan Bagh, Opposite ST. Paul Primary School, Indore-452001, Madhya Pradesh, India |
|
Nature of
instrument creating charge |
1. Hypothecation
Agreement 2. Agreement to
create mortgage and loan documents. |
|
Date of
instrument Creating the charge |
27.02.2012 |
|
Amount secured by
the charge |
Rs. 30.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest 15.25% p.a.
payable quarterly with a rebate of 1% for timely repayments of principal
& interest dues. Terms of repayment Loan is proposed
to be repaid in twenty quarterly installments commencing from 01.03.2013 and
ending on 01.12.2017. First ten
quarterly installments of Rs. 0.500 Million each; Next ten quarterly installments
of Rs. 0.600 Million each. Margin 25% Extent and operation of the charge Further First
charge by way of a. equitable
mortgage of land and building, plant and machinery, furniture and
fixtures(existing and future) of the company. Land admeasuring 16188 sq. mtr.
bearing plot no. 109, sector III, Industrial Area, Pithampur, District Dhar b. equitable
mortgage of flat.no.201 admeasuring 1677 sq ft. situated at Rivoli Apartment
Baikunthdham cly. Indore. c. Flat
no.102-D,situated at Omaxe city, Gram Mayakhedi, Indore admeasuring 181.16
sq. mtrs. |
|
Short particulars
of the property charged (Including location of the property) |
Land and
Buildings, Plant and Machinery, Furniture and Fixtures situated at Plot no.
109, Sector III. Industrial Area, Pithampur, District Dhar along with
existing and future Plant and Machinery etc. Equitable
mortgage of flat.no.201 admeasuring 1677 sq situated at Rivoli Apartment
Baikunthdham cly.Indore. Flat
no.102-D,situated at Omaxe city, Gram Mayakhedi, Indore admeasuring 181.16
sq.mtrs. |
|
Particulars of
the present modification |
Previous Term
Loan of Rs. 19.000 Millions has been modified to Rs. 30.000 Millions by
enhancing with existing Term loan of Rs. 11.000 Millions. |
FIXED ASSETS
·
Leasehold Land
·
Plant and Machinery
·
Electrical Installation
·
Factory Building
·
Site Development
·
Computer
·
Security Camera
·
Furniture and Fixtures
·
Mobile Phones
·
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. 53.95 |
|
|
1 |
Rs. 84.48 |
|
Euro |
1 |
Rs. 72.23 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
TOTAL |
|
29 |
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.