MIRA
INFORM REPORT
|
Report Date : |
14.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
ACCURAFORM PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
307 Abhijeet, Netaji Marg, Ellisbridge, Ahmedabad – 380006, Gujarat |
|
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|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
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|
|
Date of
Incorporation : |
27.09.1988 |
|
|
|
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Com. Reg. No.: |
04-011291 |
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|
|
Capital Investment
/ Paid-up Capital : |
Rs.3.630 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U21099GJ1988PTC011291 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
Line of Business
: |
Manufacturer of Ink. |
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|
|
|
No. of Employees
: |
Information declined by the management. |
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 52000 |
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|
|
|
Status : |
Moderate |
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|
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. There
appears huge external borrowings recorded by the company which may act as a
threat to the company’s liquidity. However, trade relations are reported as
fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with some caution.
|
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
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.
INFORMATION DECLINED BY
|
Name : |
Mr. Chintan Trivedi |
|
Designation : |
Manager |
|
Contact No.: |
91-22-24921943 |
|
Date : |
12.02.2013 |
LOCATIONS
|
Registered Office : |
307 Abhijeet, Netaji Marg, Ellisbridge, Ahmedabad – 380006, Gujarat,
India |
|
Tel. No.: |
91-79-26405313 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Location : |
Owned |
DIRECTORS
As on: 05.09.2012
|
Name : |
Mr. Ashok Kumar Sunderlal Gupta |
|
Designation : |
Director |
|
Address : |
B-5, Sterling Apartment, Shahibaug, Ahmedabad, Gujarat, India |
|
Date of Birth/Age : |
20.06.1955 |
|
Date of Appointment : |
09.08.1989 |
|
DIN No.: |
00040891 |
|
|
|
|
Name : |
Mr. Bhanu Kumar Naulakha |
|
Designation : |
Director |
|
Address : |
106/12C, Sangeet, Jeshal Park, Bhayender, Thane, Maharashtra,
India |
|
Date of Birth/Age : |
04.01.1954 |
|
Date of Appointment : |
19.09.2006 |
|
DIN No.: |
01298736 |
|
|
|
|
Name : |
Mr. Vivek Purushottam Poddar |
|
Designation : |
Director |
|
Address : |
6B/201, Alka Nagar, Lokhandawala Complex, Kandivali (East), Mumbai –
400101, Maharashtra, India |
|
Date of Birth/Age : |
25.01.1963 |
|
Date of Appointment : |
05.09.2009 |
|
DIN No.: |
00074387 |
KEY EXECUTIVES
|
Name : |
Mr. Chintan Trivedi |
|
Designation : |
Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 05.09.2012
|
Names of Shareholders |
|
No. of Equity
Shares |
|
Amvd Holding Private Limited, India |
|
150000 |
|
S. Talwar |
|
100 |
|
Kahini Kanoria |
|
13200 |
|
Rishav S Kanoria |
|
10000 |
|
Akshay S Kanoria |
|
10000 |
|
Sampannata Investment Private Limited, India |
|
87000 |
|
Saubhagya Investors and Dealers Private Limited, India |
|
8000 |
|
Samridhi Holding Private Limited, India |
|
4500 |
|
Bimal Shroff |
|
100 |
|
Dasharath M. Desai |
|
45000 |
|
Saketkumar Kanoria |
|
10100 |
|
|
|
|
|
Total |
|
338000 |
|
Names of Shareholders |
|
No. of
Preference Shares |
|
K. K. Kanoria |
|
2500 |
|
|
|
|
|
Total |
|
2500 |
Equity Share Break up (Percentage of Total Equity)
As on: 05.09.2012
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
12.40 |
|
Bodies corporate |
|
68.73 |
|
Other top fifty shareholders |
|
18.87 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Ink. |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Actual
Production |
|
Blanks – Glueing |
Nos. |
1468.16 |
|
Corrugliun Job |
Nos. |
31814690 |
|
Ink |
Nos. |
292450 |
GENERAL INFORMATION
|
Suppliers : |
·
Arihant Pigments ·
Avon Chemicals ·
Brenntag Ingredients ( India) Private
Limited ·
Bharat Electro Marketing ·
Engineering and Chemicals ( India) Private
Limited ·
CJ. Shah and Company ·
CJS Speciality Chemicals Private Limited ·
Connell Bros Company ( India) Private
Limited ·
International Travel House Limited –Trs. ·
Eckart GMBH ·
Eureka Techno Service |
||||||||||||||||||||||||
|
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|
||||||||||||||||||||||||
|
Customers : |
·
ACG Pharmapack Limited ·
Amco India Limited ·
Carton Plast ·
Cytech Coating Private Limited ·
Metro Multimedia Technologist ·
Hi Tech Coatings ·
The Paper Products Limited ·
Merck Limited ·
Mudra Sales Corporation ·
Gravure Packaging Products. |
||||||||||||||||||||||||
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No. of Employees : |
Information declined by the management. |
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Bankers : |
·
ICICI Bank Limited ·
HDFC Bank Limited ·
Dena Bank ·
Axis Bank ·
UCO Bank |
||||||||||||||||||||||||
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||||||||||||||||||||||||
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Facilities : |
(Rs.
In Millions)
|
|
|
|
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Banking
Relations : |
-- |
|
|
|
|
Financial
Institution : |
Tata Capital Financial Services Limited, One Forbes, Dr. V. B. Gandhi Marg,
Fort, Mumbai – 400001, Maharashtra, India |
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|
|
|
Auditors : |
|
|
Name : |
Sanghvi and Associates Chartered Accountants |
|
Address : |
710, ‘Mahakant’, |
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Tel. No.: |
91-79-26576724/ 26578064 |
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Mobile No.: |
91-79-26575731 |
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E-Mail : |
|
|
PAN No.: |
AAFFS5332J |
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
498500 |
Equity Shares |
Rs.10/- each |
Rs.4.985 Millions |
|
2500 |
Non-Convertible Preference Share
|
Rs.100/- each |
Rs.0.250 Million |
|
|
|
|
|
|
|
Total
|
|
Rs.5.235
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
338000 |
Equity Shares |
Rs.10/- each |
Rs.3.380
Millions |
|
2500 |
6% Non-Convertible Preference Share |
Rs.100/-
each |
Rs.0.250
Million |
|
|
|
|
|
|
|
Total |
|
Rs.3.630 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 |
3.630 |
3.630 |
3.630 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
9.525 |
0.972 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
[3.201] |
|
|
NETWORTH |
13.155 |
4.602 |
0.429 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
6.834 |
2.600 |
|
|
2] Unsecured Loans |
|
76.404 |
47.000 |
|
|
TOTAL BORROWING |
80.896 |
83.238 |
49.600 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
94.051 |
87.840 |
50.029 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
24.892 |
23.923 |
16.082 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
59.771 |
47.120 |
29.347 |
|
|
DEFERREX TAX ASSETS |
2.000 |
4.124 |
5.400 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
16.292
|
13.017
|
8.682
|
|
|
Sundry Debtors |
4.110
|
0.301
|
0.345
|
|
|
Cash & Bank Balances |
0.443
|
0.273
|
0.181
|
|
|
Other Current Assets |
7.446
|
0.000
|
0.000
|
|
|
Loans & Advances |
27.649
|
34.589
|
26.602
|
|
Total
Current Assets |
55.940
|
48.180
|
35.810
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
26.136
|
0.000
|
0.000
|
|
|
Other Current Liabilities |
8.330
|
26.719
|
34.598
|
|
|
Provisions |
14.086
|
8.806
|
2.034
|
|
Total
Current Liabilities |
48.552
|
35.525
|
36.632
|
|
|
Net Current Assets |
7.388
|
12.655
|
[0.822]
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.018 |
0.022 |
|
|
|
|
|
|
|
|
TOTAL |
94.051 |
87.840 |
50.029 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
||
|
|
SALES |
|
|
|
||
|
|
|
Operational Income |
173.309 |
124.566 |
83.456 |
|
|
|
|
Other Income |
NA |
0.237 |
32.678 |
|
|
|
|
TOTAL (A) |
NA |
124.803 |
116.134 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
Purchase |
|
|
54.198 |
|
|
|
|
Consumption of stores, spares, packing materials etc. |
|
|
2.709 |
|
|
|
|
Power, Fuel and Electricity expenses |
|
|
0.676 |
|
|
|
|
Employees Remuneration and Benefits |
|
|
14.328 |
|
|
|
|
Labour Charges |
|
|
5.967 |
|
|
|
|
Other Expenses |
|
|
14.883 |
|
|
|
|
TOTAL (B) |
NA |
116.717
(Including Financial Expenses and Depreciation) |
92.761 |
|
|
|
|
|
|
|
||
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
23.373 |
||
|
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
4.353 |
||
|
|
|
|
|
|
||
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
19.020 |
||
|
|
|
|
|
|
||
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
1.170 |
||
|
|
|
|
|
|
||
|
|
PROFIT BEFORE
TAX (E-F) (G) |
17.672 |
8.086 |
17.850 |
||
|
|
|
|
|
|
||
|
Less |
TAX (I) |
9.120 |
3.912 |
6.427 |
||
|
|
|
|
|
|
||
|
|
PROFIT AFTER TAX
(G-I) (J) |
8.552 |
4.174 |
11.423 |
||
|
|
|
|
|
|
||
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
0.972 |
(3.202) |
(14.625) |
||
|
|
|
|
|
|
||
|
|
BALANCE CARRIED
TO THE B/S |
9.524 |
0.972 |
(3.202) |
||
|
|
|
|
|
|
||
|
|
IMPORTS |
|
|
|
||
|
|
|
Raw Material |
59.123 |
38.205 |
32.360 |
|
|
|
|
Capital Goods |
0.000 |
5.520 |
0.000 |
|
|
|
|
Total |
59.123 |
43.725 |
32.360 |
|
|
|
|
|
|
|
||
|
|
Earnings Per
Share (Rs.) |
25.30 |
41.74 |
37.41 |
||
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA
|
3.34
|
9.84
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
6.49
|
21.39
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
21.86
|
11.21
|
34.40
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
1.34
|
1.76
|
41.61
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
6.15
|
18.09
|
115.62
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.15
|
1.36
|
0.98
|
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
(Rs.
In Millions)
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Sundry Creditors |
26.136
|
0.000
|
0.000 |
|
|
|
|
|
|
Total |
26.136
|
0.000
|
0.000 |
PARTIAL DETAILS OF
SUNDRY CREDITORS:
(Rs. In Millions)
|
Particulars |
31.03.2012 |
|
Arihant Pigments |
0.135 |
|
Avon Chemicals |
0.060 |
|
Brenntag Ingredients ( India) Private Limited |
0.124 |
|
Bharat Electro Marketing |
0.003 |
|
Engineering and Chemicals ( India) Private Limited |
0.278 |
|
CJ. Shah and Company |
0.230 |
|
CJS Speciality Chemicals Private Limited |
1.805 |
|
Connell Bros Company ( India) Private Limited |
0.460 |
|
International Travel House Limited –Trs. |
0.406 |
|
Eckart GMBH |
6.091 |
|
Eureka Techno Service |
0.006 |
|
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 |
Yes |
|
18] |
Major customers |
Yes |
|
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)
|
Particular |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
From Corporate Bodies |
|
67.224 |
|
From Others |
|
9.180 |
|
|
|
|
|
Total |
NA
|
76.404 |
OPERATIONS
The Performance of the Company during the year is above
average. There is rise in operational income by 39.13% from Rs.124.566 Millions
to Rs.173.309 Millions and has earned net profit of Rs. 8.552 Millions.
CONTINGENT
LIABILITIES:
Disputed demands of Rs.0.398 Million (Previous Year 0.398 Million) in case of the Show Cause Notice received from the Central Excise Department.
Bankers Charges
Report as per Registry
|
Corporate identity
number (CIN) or foreign company registration
number of the company |
U21099GJ1988PTC011291 |
|
Name of the
company |
ACCURAFORM
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
307 Abhijeet, Netaji Marg, Ellisbridge, Ahmedabad – 380006, Gujarat,
India E-mail: kanoriahospital@yahoo.com
|
|
This form is for |
Modification
of charge |
|
Charge
identification (ID) number of the charge to be modified |
10346312 |
|
Type of charge |
·
Movable
property (not being pledge) ·
Others
(Current Assets) |
|
Particular of
charge holder |
Tata Capital Financial Services Limited, One Forbes, Dr. V. B. Gandhi
Marg, Fort, Mumbai – 400001, Maharashtra, India E-mail: avan.doomasia@tatacapital.com
|
|
Nature of
instrument creating charge |
Deed of
modification dated 28.04.2012 |
|
Date of
instrument Creating the charge |
28.04.2012 |
|
Amount secured by
the charge |
Rs.40.000
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest Discounting
Interest @15.00% per annum Terms of
Repayment Principal and
Interest amount to be repaid in 12 months Margin N.A Extent and
Operation of the charge The Charge
extends to the due repayment of the loan of Rs 40.000 Millions including the
interest, additional interest, costs, charges, expenses and all other monies
payable under the Supplemental Agreement for Enhancement dated 21.03.2012 In the event of default
in payment of interest or repayment of principal amount of the Loan the
Borrower shall pay to the Lender, further interest @ 4% p.a. as penal
interest. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
First and
exclusive charge on entire movable fixed assets of the company. All present and
future current assets Buhler ag,
Switzerland for import of Perl Mill R.K 60.2 Comfort - fix Atix Located at
Silvassa Unit, Gujarat |
|
Particulars of
the present modification |
By way of present
modification charge has been extended on Equipments and Current Assets
already created in favour of Tata Capital Financial Services Limited vide
Loan cum Hypothecation cum Guarantee Agreement dated 30.07.2010 and Deed of
Hypothecation dated 11.11.2010 to secure the charge of Rs. 40.000 Millions. |
FIXED ASSETS
Tangible Assets:
· Leasehold Land
· Building
· Plant and Machinery
· Furniture and Fixture
· Office Equipments
· Air Conditioners
· Vehicles
Intangible Assets:
· Computer Software
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.53.85 |
|
|
1 |
Rs.84.43 |
|
Euro |
1 |
Rs.72.40 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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.