MIRA
INFORM REPORT
|
Report Date : |
22.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
ARVALLI CASTOR DERIVATIVES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
At and Kpost Ekalbaranr Shimmer Chemicals Private Limited, Jambusar
Tarapur Highway, Taluka Padra, Vadodara-391440, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
13.02.2004 |
|
|
|
|
Com. Reg. No.: |
04-043617 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 5.000 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24221GJ2004PTC043617 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BRDA01838E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECA6326Q |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Castor Oil Derivatives. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (34) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 40000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. The
profitability of the company appears to be low. However, trade relations are reported to be 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 : |
At and Kpost Ekalbaranr Shimmer Chemicals Private Limited, Jambusar
Tarapur Highway, Taluka Padra, Vadodara-391440, Gujarat, India |
|
Tel. No.: |
91- 2662-244401 |
|
Mobile No.: |
91-9898002809 (Mr. Dineshkumar
Bhikhabhai Patel) 91-9898003829 (Mr. Mehulkumar
Vitthalbhai Desai) 91-9898003509 (Mr. Shirish Premji
Joisher) |
|
Fax No.: |
91- 2662-244402 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Mehulkumar Vitthalbhai Desai |
|
Designation : |
Whole-time director |
|
Address : |
At Mudeti, Taluka- Idar, Himmat Nagar, Sabarkantha- 383450, Gujarat |
|
Date of Birth/Age : |
03.09.1980 |
|
Date of Appointment : |
13.02.2004 |
|
DIN No.: |
00516220 |
|
|
|
|
Name : |
Mr. Dineshkumar Bhikhabhai Patel |
|
Designation : |
Whole-time director |
|
Address : |
At Ekalbara, Taluka- Padra, Baroda- 391440, Gujarat |
|
Date of Birth/Age : |
24.05.1980 |
|
Date of Appointment : |
13.02.2004 |
|
DIN No.: |
00516284 |
|
|
|
|
Name : |
Mr. Shirish Premji Joisher |
|
Designation : |
Whole-time director |
|
Address : |
A-3, Nilam Bar
2, Near Vasana Jakat Naka, Vasna Road, Baroda-390020, Gujarat, India |
|
Date of Birth/Age : |
30.11.1949 |
|
Date of Appointment : |
25.05.2007 |
|
DIN No.: |
01547369 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Mahul Desai |
|
5299 |
|
Dlneshbhai Patel |
|
4099 |
|
Vilhalbhai Desai |
|
81499 |
|
Bhikhabhal Palel |
|
112899 |
|
Rameshbhai Desai |
|
86099 |
|
Manilal Patel |
|
40098 |
|
Jitendra Desai |
|
5999 |
|
Becharbhai Laljibhai Desai |
|
1 |
|
Bhupendrakumar B. Desai |
|
1 |
|
Daljibhai S. Desai |
|
34497 |
|
Dharmisthaben Jitendrakumar
Desai |
|
1 |
|
Dinaben Rameshbhai Dasai |
|
1 |
|
Hansaben Nimeshkumar Desai |
|
1 |
|
Hiraben Daljibhai Desai |
|
1 |
|
Hiral Vinubhai Patel |
|
1 |
|
Indiraben Sureshbhai Patel |
|
1 |
|
Kamuben V. Desai |
|
49998 |
|
Mayank Desai |
|
3999 |
|
Naimesh Desai |
|
4999 |
|
Nikhil Pathubhai Desai |
|
1 |
|
Nileshbhai Manilal Patel |
|
1 |
|
Nimesh Daljibhai Desai |
|
1 |
|
Nimisha Mehul Desai |
|
1 |
|
Paliben Bhikhabhai Patel |
|
1 |
|
Pathubhai Desai |
|
52498 |
|
Rajeshbhai Bhikhabhai Patel |
|
1 |
|
Sanjay Daljibhai Desai |
|
1 |
|
Sunandaben Dineshbhai Patel |
|
1 |
|
Sureshbhai Patel |
|
17999 |
|
Urmilaben Pathubhai Desai |
|
1 |
|
Vinubhai Becharbhai Desai |
|
1 |
|
Total |
|
500000 |
Allottees as on 01.10.2012
|
Names of Allottees |
|
No. of Shares |
|
Mehulkumar Vitthalbhai Desai |
|
150000 |
|
Nimisha Mehulkumar Desai |
|
15000 |
|
Dineshkumar Bhikhabhai Patel |
|
120000 |
|
Sunanda Dineshkumar Patel |
|
18500 |
|
Bhikhabhai Kalabhai Patel |
|
26500 |
|
Shirish Premji Joisher |
|
165000 |
|
Total |
|
495000 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2012
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Castor Oil Derivatives. |
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Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
·
Punjab National Bank, Fatehgunj Branch,
Fatehgunj, Vadodara - 390002, Gujarat, India |
||||||||||||
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|
|
||||||||||||
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Facilities : |
Note: The above term loan
from Punjab National Bank is primarily secured against machinery aquired out
of the loan . The term loan is furthur secured against collateral security of
factory land and bulding situated at coastal Highway, Near Mahuwad Crossing,
At and Post Ekalbara, Tal Padra, District Vadodara, and also secured by
personal guarantee of all the Directors of the Company. The term loan
from Punjab National Bank is repayable by way of 78 monthly installments of
Rs. 0.038 million each. The Cash Credit
limit from Punjab National Bank is primarily secured by way of first charge
on stock, book debts of the company and furthur secured by way of first
charge against equitable mortgage of factory land and bulding situated at
coastal Highway, Near Mahuwad crossing, At and Post Ekalbara, Taluka Padra,
District Vadodara, and also secured by personal guarantee of all the
Directors of the Company. |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Contractor Nayak and Kishnadwala Chartered Accountants |
|
Address : |
C 201-202, Shree Siddhi Vinayak Complex, Opposite Alkapuri Side
Railway Station, Faramji Road, Alkappuri, Vadodara- 390005, Gujarat,
India |
|
PAN No.: |
AAGFC1833M |
CAPITAL STRUCTURE
After 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs. 10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
995000 |
Equity Shares |
Rs.10/- each |
Rs. 9.950 Millions |
|
|
|
|
|
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs. 10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs. 5.000 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 |
5.000 |
5.000 |
5.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
5.420 |
2.949 |
1.127 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
10.420 |
7.949 |
6.127 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
18.828 |
16.389 |
2.697 |
|
|
2] Unsecured Loans |
4.798 |
4.798 |
4.019 |
|
|
TOTAL BORROWING |
23.626 |
21.187 |
6.716 |
|
|
DEFERRED TAX LIABILITIES |
0.273 |
0.302 |
0.087 |
|
|
|
|
|
|
|
|
TOTAL |
34.319 |
29.438 |
12.930 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
11.487 |
10.939 |
6.380 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
10.030
|
13.144 |
6.494 |
|
|
Sundry Debtors |
42.406
|
38.649 |
13.211 |
|
|
Cash & Bank Balances |
0.575
|
0.313 |
0.018 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
7.683
|
7.815 |
5.047 |
|
Total
Current Assets |
60.694
|
59.921 |
24.770 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
36.030
|
39.421 |
17.236 |
|
|
Other Current Liabilities |
0.800
|
1.370 |
0.400 |
|
|
Provisions |
1.032
|
0.631 |
0.584 |
|
Total
Current Liabilities |
37.862
|
41.422 |
18.220 |
|
|
Net Current Assets |
22.832
|
18.499 |
6.550 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
34.319 |
29.438 |
12.930 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
667.197 |
491.326 |
153.490 |
|
|
|
Other Income |
1.807 |
0.012 |
0.731 |
|
|
|
TOTAL (A) |
669.004 |
491.338 |
154.221 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
619.478 |
|
|
|
|
|
Purchase of Stock‐in‐Trade |
9.914 |
0.000 |
151.126 |
|
|
|
Employee benefits expense |
4.266 |
1.402 |
|
|
|
|
Other expenses |
30.569 |
21.142 |
|
|
|
|
Changes in inventories |
(3.103) |
(2.336) |
|
|
|
|
TOTAL (B) |
661.124 |
485.945 |
151.126 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) |
7.880 |
5.393 |
3.095 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
2.778 |
1.905 |
0.397 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
5.102 |
3.488 |
2.698 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.491 |
0.826 |
0.824 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
3.611 |
2.662 |
1.874 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.140 |
0.840 |
0.813 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
2.471 |
1.822 |
1.061 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2.949 |
1.127 |
0.066 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
5.420 |
2.949 |
1.127 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Export |
96.536 |
53.776 |
15.477 |
|
|
TOTAL EARNINGS |
96.536 |
53.776 |
15.477 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
4.94 |
3.64 |
2.12 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.37
|
0.37 |
0.69 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.54
|
0.54 |
1.22 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.00
|
3.76 |
6.02 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.35
|
0.33 |
0.31 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.27
|
2.67 |
2.11 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.60
|
1.45 |
1.36 |
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 |
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 |
No |
UNSECURED LOAN
|
Unsecured Loan |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
In Millions) |
|
Directors |
3.093 |
3.093 |
|
Relative of Directors |
1.705 |
1.705 |
|
Total |
4.798 |
4.798
|
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity number of the company |
U24221GJ2004PTC043617 |
|
Name of the company |
ARVALLI CASTOR DERIVATIVES PRIVATE LIMITED |
|
Address of the registered office or of the principal place of business in India of the company |
At and Kpost Ekalbaranr Shimmer Chemicals Private Limited, Jambusar
Tarapur Highway, Taluka Padra, Vadodara-391440, Gujarat, India Email: me_arvalli@yahoo.co.in
|
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
10058209 |
|
Type of charge |
Immovable property |
|
Particular of charge holder |
Punjab National Bank, Fatehgunj Branch, Fatehgunj, Vadodara - 390002,
Gujarat, India Email: bo3405@pnb.co.in |
|
Nature of instrument creating charge |
Memorandum of completed transaction of extension of equitable mortgage
without possession |
|
Date of instrument Creating the charge |
24.10.2011 |
|
Amount secured by the charge |
Rs. 27.000 millions |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
Rate of Interest 1) Cash Credit: base rate + 4% p.a. 2) LG: commission as per Bank's rule 3) FOBP/FOBUP /ODDF:commission as per Bank's rule Terms of Repayment 1) Cash Credit: on demand 2) LG: On due date 3) FOBP/FOBUP /ODDF:on due date Margin 1) Cash Credit: 40% for
Stock & 25% for Book Debts 2) LG: 25% Extent and Operation of the charge charge will operate on immovable property to secure Credit facility |
|
Short particulars of the property or asset(s) charged (including
complete address and location of the property) |
Immovable property of the company situated at reg. Dist. Baroda, Sub
Dist. Padra, Mouje Ekalbara Block No. 495 paiki Old Block No. 521 old Survey
No.376 and Old Block No. 609, old survey no. 439/1 Hissa No. A adm. 5669.68 Sq. Mtr.
Together with all structure and the equipments and machinery |
|
Particulars of the present modification |
By virtue of the present modification the Credit facility availed by
the company is enhanced to Rs. 2,70,00,000/ as detailed below: 1) Cash Credit:
Rs. 20.000 millions 2) LG : Rs. 5.000 millions 3) FOBP/FOBUP /ODDF: Rs.
2.000 millions |
FIXED ASSETS
v Tangible Assets
· Land
· Building
· Plant and Machinery
· Vehicles
· Equipments
· Electrification
· Computer
v 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.54.05 |
|
|
1 |
Rs.83.45 |
|
Euro |
1 |
Rs.72.53 |
INFORMATION DETAILS
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
34 |
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.