MIRA
INFORM REPORT
|
Report Date : |
07.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
ASAP FLUIDS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
D/103, G. E. Garden, LBS Road, Kanjur Marg (West), Mumbai – 400042,
Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
15.02.2010 |
|
|
|
|
Com. Reg. No.: |
11-200102 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.30.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74990MH2010PTC200102 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMA37213B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAICA2436P |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the supply of drilling fluids and offers allied
on-site engineering services. |
|
|
|
|
No. of Employees
: |
15 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 170000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. There appears
some accumulated losses recorded by the company. Profitability of the company
is under pressure. 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.
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 |
ICRA |
|
Rating |
LONG TERM LOAN : ICRA BB |
|
Rating Explanation |
Having moderate risk of default regarding timely servicing of
financial obligation. |
|
Date |
November, 2012 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Banedict Noronha |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-22-25789930 |
|
Date : |
04.01.2013 |
LOCATIONS
|
Registered Office : |
D/103, G. E. Garden, LBS Road, Kanjur Marg (West), Mumbai – 400042,
Maharashtra, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Operation Office : |
Unit 203-204, Kailash Commercial Complex, L.B.S. Marg, Vikhroli
(West), Mumbai – 400083, Maharashtra, India |
|
Tel. No.: |
91-22-25789930/ 26465147 |
|
Fax No.: |
91-22-25789934 |
|
Email : |
DIRECTORS
(AS ON 05.07.2012)
|
Name : |
Mr. Vivek Anand Gupta |
|
Designation : |
Managing Director |
|
Address : |
Shiv-Krupa, 18/20 St. Mary’s Road, Mazagaon, Mumbai – 400010,
Maharashtra, India |
|
Date of Birth/Age : |
15.07.1985 |
|
Date of Appointment : |
15.02.2010 |
|
DIN No.: |
02233629 |
|
|
|
|
Name : |
Mr. Robert Wayne Pantermuehl |
|
Designation : |
Director |
|
Address : |
401 Montley TRL, Georgetown Texas - 78628 |
|
Date of Birth/Age : |
04.02.1959 |
|
Date of Appointment : |
15.02.2010 |
|
DIN No.: |
02595656 |
|
|
|
|
Name : |
Mr. Dipakkumar Khimjibhai Parmar |
|
Designation : |
Director |
|
Address : |
802, Glory, C Wing, Vasant Marvel WE Highway, Borivali (East), Mumbai,
Maharashtra, India |
|
Date of Birth/Age : |
03.12.1965 |
|
Date of Appointment : |
01.10.2010 |
|
DIN No.: |
00158285 |
|
|
|
|
Name : |
Mr. Sunil Bandopant Shitole |
|
Designation : |
Director |
|
Address : |
Flat No.701, 7th Floor, Varsova Shivkutir CHS, Plot No.23,
Behind Janakidevi School, Andheri (West), Mumbai – 400053, Maharashtra,
India |
|
Date of Birth/Age : |
01.06.1955 |
|
Date of Appointment : |
01.01.2011 |
|
DIN No.: |
01632275 |
|
|
|
|
Name : |
Mr. Yogesh Ratilal Jagiwala |
|
Designation : |
Director |
|
Address : |
Shanta Bhuvan, 28C (55), Vallabhbhai Road, Vile Parle (West), Mumbai –
400056, Maharashtra, India |
|
Date of Birth/Age : |
16.03.1952 |
|
Date of Appointment : |
16.03.2011 |
|
DIN No.: |
03496530 |
|
|
|
|
Name : |
Mrs. Chetna Anand Gupta |
|
Designation : |
Director |
|
Address : |
Shiv-Krupa, 18/20 St. Mary’s Road, Mazagaon, Mumbai – 400010,
Maharashtra, India |
|
Date of Birth/Age : |
08.04.1962 |
|
Date of Appointment : |
01.04.2011 |
|
DIN No.: |
03570494 |
KEY EXECUTIVES
|
Name : |
Mr. Banedict Noronha |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 05.07.2012)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Robert Wayne Pantermuehl |
|
4000 |
|
Gumpro Drilling Fluids Private Limited, India |
|
2996000 |
|
Total |
|
3000000 |
(AS ON 05.07.2012)
Equity Shares Break – up
|
Category |
|
Percentage |
|
Bodies corporate |
|
99.87 |
|
Directors or relatives of directors |
|
0.13 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the supply of drilling fluids and offers allied
on-site engineering services. |
|
|
|
|
Exports : |
|
|
Products : |
Chemicals |
|
Countries : |
·
USA ·
Middle East |
|
|
|
|
Imports : |
|
|
Products : |
Chemicals |
|
Countries : |
·
Singapore ·
US ·
Middle East ·
China |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
· Donbosco Press |
||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
Customers : |
End Users · Gujarat State Petroleum Corporation |
||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
15 (Approximately) |
||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
· State Bank of India, Kanjur Marg Branch, Mumbai, Maharashtra, India · State Bank of India, Industrial Finance Branch, S. V. Road, Malad (West), Mumbai – 400064, Maharashtra, India · Axis Bank Limited, Mulund (West), Mumbai, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
Total Facilities
: Rs.151.500 Millions (From State Bank of India)
Notes:
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Pankaj R. Shah and Associates Chartered Accountants |
|
Address : |
701-702, Regency Plaza, Opposite Rahul Tower, Near Madhur Hall,
Anandnagar Cross Road, Ahmedabad – 380015, Gujarat, India |
|
PAN No.: |
AAAFP8923D |
|
|
|
|
Holding Company : |
· Gumpro Drilling Fluids Private Limited, India CIN No.: U74999MH2008PTC185433 |
|
|
|
|
Subsidiaries : |
ASAP Fluids DMCC |
|
|
|
|
Enterprises that directly, or indirectly through one or more
intermediaries, control with the reporting enterprise. |
· Gumpro Drilling Fluids Private Limited · Dione Oilfields private Limited |
CAPITAL STRUCTURE
(AS ON 31.03.2012)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000
Millions |
|
|
|
|
|
The details of shareholders holdings more than 5% shares
|
Name of the Shareholder |
As at 31st
March 2012 |
|
|
|
No. of Shares |
% of Holdings |
|
Gumpro Drilling Fluids Private Limited |
2996000 |
99.87 |
The reconciliation of the number of shares outstanding is set out below
|
Particulars |
As at 31st
March 2012 |
|
|
No. of Shares |
|
Equity Shares at the beginning of the year |
1804000 |
|
Add : Shares issued to holding company |
1196000 |
|
Equity Shares at the end of the year |
3000000 |
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 |
30.000 |
18.040 |
0.100 |
|
|
2] Share Application Money |
22.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(9.005) |
(2.344) |
(0.570) |
|
|
NETWORTH |
42.995 |
15.696 |
(0.470) |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
78.129 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
18.879 |
45.843 |
0.870 |
|
|
TOTAL BORROWING |
97.008 |
45.843 |
0.870 |
|
|
DEFERRED TAX LIABILITIES |
1.508 |
0.286 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
141.511 |
61.825 |
0.400 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
34.833 |
15.360 |
0.000 |
|
|
Capital work-in-progress |
8.172 |
0.020 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
7.500 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
63.333
|
8.065 |
0.000 |
|
|
Sundry Debtors |
31.292
|
38.761 |
0.000 |
|
|
Cash & Bank Balances |
0.097
|
7.798 |
0.300 |
|
|
Other Current Assets |
0.412
|
0.000 |
0.000 |
|
|
Loans & Advances |
26.743
|
22.969 |
0.100 |
|
Total
Current Assets |
121.877
|
77.593 |
0.400 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
28.657
|
22.447 |
0.000 |
|
|
Other Current Liabilities |
2.808
|
4.848 |
0.000 |
|
|
Provisions |
(0.594)
|
3.853 |
0.000 |
|
Total
Current Liabilities |
30.871
|
31.148 |
0.000 |
|
|
Net Current Assets |
91.006
|
46.445 |
0.400 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
141.511 |
61.825 |
0.400 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
126.100 (Approximately) |
51.396 |
0.000 |
|
|
|
Other Income |
NA |
0.599 |
0.000 |
|
|
|
TOTAL (A) |
NA |
51.995 |
0.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Increase in Closing Stock |
|
(8.065) |
0.000 |
|
|
|
Purchases and Other Operations Expenses |
|
46.977 |
0.000 |
|
|
|
Payments to Provision for Employees |
|
2.847 |
0.000 |
|
|
|
Administrative and Other Expenses |
|
9.319 |
0.570 |
|
|
|
Selling and Distribution Expenses |
NA |
0.410 |
0.000 |
|
|
|
TOTAL (B) |
|
51.488 |
0.570 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
0.507 |
(0.570) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
1.237 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
(0.730) |
(0.570) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
0.740 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(5.439) |
(1.470) |
(0.570) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.222 |
0.285 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(6.661) |
(1.755) |
(0.570) |
|
|
|
|
|
|
|
|
|
Less |
Prior Period
Items |
NA |
0.018 |
0.000 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(2.343) |
(0.570) |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
(2.343) |
(0.570) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(2.22) |
(5.55) |
(57.05) |
|
Expected Sales (2012-13): Rs.250.000 Millions
The above information has been parted by Mr. Banedict Noronha
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA
|
(3.38) |
0.00 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
(2.86) |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(3.47)
|
(1.58) |
(142.50) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.13)
|
(0.09) |
1.21 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.97
|
4.91 |
(1.85) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.95
|
2.49 |
0.00 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
(Rs.
In Millions)
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Sundry Creditors
|
|
|
|
|
-
For Expenses and Services |
16.332 |
8.759 |
0.000 |
|
-
For Goods |
12.325 |
13.688 |
0.000 |
|
Total |
28.657 |
22.447 |
0.000 |
|
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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last two years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if applicable) |
Yes |
|
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 |
CONTINGENT LIABILITIES
|
Particulars |
31.03.2012 (Rs. In
Millions) |
31.03.2011 (Rs. In
Millions) |
|
|
|
|
|
Estimate amount of contract remaining to be
executed on capital account and not provided for |
0.000 |
0.000 |
|
Guarantee and Counter Guarantees given by
Company |
19.391 |
21.231 |
|
Disputed Central Sales Tax Dues |
0.000 |
0.000 |
FORM 8:
|
Corporate
identity number of the company |
U74990MH2010PTC200102 |
|
Name of the
company |
ASAP FLUIDS
PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
D/103, G E
Garden, LBS Road, Kanjur Marg (West), Mumbai – 400042, Maharashtra, India |
|
This form is for |
Creation of
charge |
|
Type of charge |
Immovable property |
|
Particular of
charge holder |
State Bank of
India Industrial
Finance Branch, S.V. Road, Malad West, Mumbai – 400064, Maharashtra, India |
|
Nature of
description of the instrument creating or modifying the charge |
No instrument was
executed. Charge created by way of equitable mortgage by deposit of title
deeds. |
|
Date of
instrument Creating the charge |
19/05/2011 |
|
Amount secured by
the charge |
Rs.109.000
Millions |
|
Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Rate of Interest Not Applicable Terms of
Repayment Not Applicable Margin Not Applicable Extent and
Operation of the charge Security to cover
the principal amount plus interest, fees, commission, charges, costs and
expenses including the legal costs. |
|
Short particulars
of the property charged |
Immovable
property being residential Flat D-103 admeasuring about 64.59 sq. mtrs.
equiv. to 937 sq. ft., on 1st Floor of the Building D, Great Eastern Gardens,
L.B.S. Marg, Kanjurmarg West, Mumbai 400076, Maharashtra, India |
TRADE REFERENCE:
· Gujarat State Petroleum Corporation
· Donbosco Press
FIXED ASSETS:
· Plant and Machinery
· Office Equipment
· Furniture and Fixture
· 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 records 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 Declration :
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.54.85 |
|
|
1 |
Rs.88.16 |
|
Euro |
1 |
Rs.71.54 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
27 |
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.