|
Report Date : |
19.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
PACIFIC PIPE SYSTEMS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Building No. 12A (House No 13), Sigma Corporate, Behind Rajpath Club, Off
S. G. Road, Bodakdev, Ahmedabad – 380005, Gujarat |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
08.03.2008 |
|
|
|
|
Com. Reg. No.: |
04-53182 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.50.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28110GJ2008PTC053182 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMP06169C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECP6371Q |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing and Marketing of Glass Reinforced Polyester (GRP) and
Glass Reinforced Epoxy (GRE) Pipes of Different Diameters. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1300000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. The company
is continuously incurring losses from its operation. 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
cautions. |
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) |
|
|
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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Letter of Credit: A4+ |
|
Rating Explanation |
Minimal degree of safety it may high credit
risk. |
|
Date |
23.11.2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Cash Credit BB- |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
23.11.2012 |
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.
LOCATIONS
|
Registered Office : |
Building No. 12A (House No 13), Sigma Corporate, Behind Rajpath Club,
Off S. G. Road, Bodakdev, Ahmedabad – 380005, Gujarat, India |
|
Tel. No.: |
91-79-26574377/ 26573746 |
|
Mobile No.: |
91-9737040801 (Mr. Shyam Kumar) |
|
Fax No.: |
91-79-26574367 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
Plot No.36-43(P), 101(P), Naranpura Village, Chandrasan, Post Sanand Taluka, Ahmedabad District - 382170, Gujarat, India |
|
Tel No.: |
91-2717-668400 |
|
Fax No.: |
91-2717-668700 |
|
Email : |
DIRECTORS
(AS ON 24.09.2011)
|
Name : |
Mr. Ashit Dhirajlal Doshi |
|
Designation : |
Director |
|
Address : |
A – 103, 10th Floor, Tirthbhoomi Apartment, B/H Law
College, Ahmedabad – 380006, Gujarat, India |
|
Date of Birth/Age : |
18.08.1965 |
|
Date of Appointment : |
08.03.2008 |
|
DIN No.: |
00150851 |
|
|
|
|
Name : |
Mr. Shyam Kumar Natarajan |
|
Designation : |
Managing Director |
|
Address : |
No. 103, Sharnag Apartment – 17, 18th Cross, Malleshwaram, Bangalore-
560055 Karnataka, India |
|
Date of Birth/Age : |
06.07.1971 |
|
Date of Appointment : |
08.03.2008 |
|
DIN No.: |
00105095 |
|
|
|
|
Name : |
Mr. Rakshit Dhirajlal Doshi |
|
Designation : |
Director |
|
Address : |
A – 103, 10th Floor, Tirthbhoomi Apartment, B/H Law
College, Ahmedabad – 380006, Gujarat, India |
|
Date of Birth/Age : |
29.05.1969 |
|
Date of Appointment : |
10.05.2008 |
|
DIN No.: |
00150910 |
|
|
|
|
Name : |
Mr. Ganapathy Viswanathan Iyer |
|
Designation : |
Director |
|
Address : |
7, Nilgiri, Chheda Nagar, Chembur, Mumbai-400089, |
|
Date of Birth/Age : |
24.09.1953 |
|
Date of Appointment : |
10.05.2008 |
|
DIN No.: |
00081038 |
|
|
|
|
Name : |
Mr. Prasad Satish Gadkari |
|
Designation : |
Nominee Director |
|
Address : |
111, 4th Road, Hindu Colony, Dadar, Mumbai – 400014,
Maharashtra, India |
|
Date of Birth/Age : |
20.02.1974 |
|
Date of Appointment: |
11.01.2011 |
|
DIN No.: |
02607255 |
KEY EXECUTIVES
|
Name : |
Mr. Nancy Mohanbhai Mendpara |
|
Designation : |
Secretary |
|
Address : |
104, Sukriti Annexe, Behind Isro, Besides Preranatirth Bunglow-II,
Statellite, Ahmedabad-380015, |
|
Date of Birth/Age : |
30.05.1980 |
|
Date of Appointment : |
11.01.2010 |
|
PAN No.: |
ANOPM8898F |
|
|
|
|
Name : |
Mrs. Seema Ramchandani |
|
Designation : |
General Manager, HR and Administration |
|
Mobile No.: |
91-9737040810 |
|
|
|
|
Name : |
Mr. Manoj Kumar Chaddha |
|
Designation : |
Senior General Manager, Finance |
|
Mobile No.: |
91-9737040808 |
|
|
|
|
Name : |
Mr. Ashok Gupta |
|
Designation : |
Associate Vice President. Sales and Marketing |
|
Mobile No.: |
91-9737040805 |
|
|
|
|
Name : |
Mr. L.P. Shrivastava |
|
Designation : |
Vice President Operations |
|
Mobile No.: |
91-9737040804 |
|
|
|
|
Name : |
Mr. H. Hitesh |
|
Designation : |
Chief Executive Officer |
|
Mobile No.: |
91-9737040802 |
|
|
|
|
Name : |
Mr. S.G. Mapara |
|
Designation : |
Assistant General Manager, Sales and Marketing |
|
Mobile No.: |
91-9737040821 |
|
|
|
|
Name : |
Mr. M. S. Satish |
|
Designation : |
Senior Manager, Sales and Marketing |
|
Mobile No.: |
91-9962580190 |
|
|
|
|
Name : |
Mr. Ashok Chaubey |
|
Designation : |
Senior Manager, Sales and Marketing |
|
Mobile No.: |
91-8882331576 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 24.09.2011)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Doshion Limited, India |
|
4250000 |
|
Pacific Composites Private Limited, India |
|
750000 |
|
|
|
|
|
Total |
|
5000000 |
(AS ON 30.09.2011)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Marketing of Glass Reinforced Polyester (GRP) and
Glass Reinforced Epoxy (GRE) Pipes of Different Diameters. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
· Bank of India Ahmedabad Corporate Banking Branch, 2nd Floor, Bank of India
Building, Bhadra, Ahmedabad – 380001, Gujarat, India · Corporation Bank SME Marol Branch, Bonanza, Sahar Plaza Complex, Andheri-Kurla Road, J
B Nagar, Andheri (East), Mumbai – 400059, Maharashtra, India |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Suketu C Shah and Company Chartered Accountant |
|
Address : |
A-503, Premium House, Near Gandhi Gram Railway Station, Ellisbridge, Ahmedabad-380006,
|
|
Tel. No.: |
91-79-40071817 |
|
Mobile No.: |
91-9825031833 |
|
E-Mail : |
|
|
PAN No.: |
AJWPS4809B |
|
|
|
|
Holding Company : |
Doshion Limited, U24110GJ1995PLC025307 |
|
|
|
|
Other Related Parties with whom Transaction have taken place: |
·
Doshion Veolia Water Solutions Private Limited ·
Fivebro International Private Limited ·
De Aryans Private Limited |
CAPITAL STRUCTURE
(AS ON 24.09.2012)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000
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 |
50.000 |
50.000 |
50.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
263.971 |
66.028 |
101.336 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
313.971 |
116.028 |
151.336 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
507.486 |
570.828 |
613.017 |
|
|
2] Unsecured Loans |
333.531 |
194.587 |
109.787 |
|
|
TOTAL BORROWING |
841.017 |
765.415 |
722.804 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
19.099 |
|
|
|
|
|
|
|
|
TOTAL |
1154.988 |
881.443 |
893.239 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
995.312 |
683.007 |
711.101 |
|
|
Capital work-in-progress |
39.606 |
29.461 |
0.217 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.015 |
|
|
DEFERREX TAX ASSETS |
45.658 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
155.331
|
160.632 |
69.256
|
|
|
Sundry Debtors |
266.347
|
388.961 |
267.886
|
|
|
Cash & Bank Balances |
26.648
|
14.829 |
19.011
|
|
|
Other Current Assets |
11.108
|
18.369 |
3.971
|
|
|
Loans & Advances |
34.240
|
31.175 |
22.946
|
|
Total
Current Assets |
493.674
|
613.966 |
383.070 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
255.416
|
237.462 |
178.621
|
|
|
Other Current Liabilities |
149.094
|
203.890 |
18.133
|
|
|
Provisions |
14.752
|
3.639 |
5.175
|
|
Total
Current Liabilities |
419.262
|
444.991 |
201.929
|
|
|
Net Current Assets |
74.412
|
168.975 |
181.141
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.765 |
|
|
|
|
|
|
|
|
TOTAL |
1154.988 |
881.443 |
893.239 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL (A) |
543.000 |
435.800 |
458.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
576.800 |
494.400 |
373.300 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(33.800) |
(58.600) |
84.700 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
126.700 |
85.600 |
45.500 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(160.500) |
(27.000) |
39.200 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
30.900 |
30.900 |
23.300 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
(191.400) |
(57.900) |
15.900 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(45.600) |
(22.600) |
15.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
(145.800) |
(35.300) |
0.900 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(33.800) |
1.500 |
0.600 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(179.600) |
(33.800) |
1.500 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
NA |
75.921 |
|
|
|
Stores & Spares |
NA |
NA |
0.000 |
|
|
|
Capital Goods |
NA |
NA |
88.265 |
|
|
TOTAL IMPORTS |
NA |
NA |
164.186 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
(29.16) |
(7.06) |
0.18 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(26.85)
|
(8.10) |
0.20 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(12.85)
|
(4.46) |
1.45 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.61)
|
(0.50) |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.68
|
6.60 |
4.78 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.18
|
1.38 |
1.90 |
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 |
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] |
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
|
Particulars |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
|
|
|
|
|
|
Loans and Advance from Others |
115.697 |
109.787 |
|
Loans and Advance from related parties |
217.834 |
84.800 |
|
|
|
|
|
Total |
333.531 |
194.587 |
NOTE:
The Registered office of the company has been
shifted from, 1015, 10th Floor, ATMA House, Opposite Old RBI, Ashram
Road, Ahmedabad – 380009, Gujarat, India, to the present address w.e.f.
04.05.2012.
OPERATIONS:
The Company is in
the business of manufacturing and marketing of Glass Reinforced Polyester (GRP)
and Glass Reinforced Epoxy (GRE) pipes of different diameters. The total
revenue of the Company has increased from Rs. 435.800 Millions to Rs.543.000
Millions. The profit before tax of the Company has also decreased from
Rs.(57.900) Millions to Rs. (191.400) Millions, while the net profit after tax
has decreased to Rs.(145.800) Millions as compared to previous year’s net
profit of Rs.(35.300) Millions. The EPS (Earning Per Share) has also decreased
from (7.06) to (29.16).
FUTURE OUTLOOK
A notable revival in
the market is being noticed, which will increase the demand for GRP pipes in
the FY 12-13 in all the segments, especially in sewer, wherein GRP is being
recognized as standard material of construction Sardar Sarovar Nigam Limited
(SSNL) has replaced GRP in all of its irrigation requirements. SSNL will float
tenders worth Rs.10000.000 Millions approx in FY 12-13, wherein GRP pipes would
constitute for Rs.6000.000 Millions.
Rajasthan – PHED
has come up with Rs.5000.000 Millions worth of tenders in GRP mainly for
gravity main. In the next phase PHED as a policy has also considered GRP for
pressure lines and likely to come out with 2000 Cr of tenders in FY 13-14 of
which GRP pipe would be 700 Crores.
In the power
sector, NTPC has adopted GRP as a material of construction for its upcoming
power projects which will open new market for FY12-13.
FIXED ASSETS:
·
· Factory Building
· Plant and Machinery and Electrical Installation
· Furniture/ Fixtures
· Office Equipments
· Vehicles
· Computers Printers and Laptop
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.54.29 |
|
|
1 |
Rs.84.09 |
|
Euro |
1 |
Rs.72.44 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
26 |
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.