MIRA INFORM REPORT
|
Report Date : |
24.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
SHIVA PHARMACHEM LIMITED (w.e.f. 04.07.2011) |
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|
|
|
Formerly Known
As : |
SPPL INDIA LIMITED (w.e.f. 01.04.2011) SHIVA PHARMACHEM LIMITED (w.e.f. 30.06.2010) SHIVA PHARMACHEM PRIVATE LIMITED |
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Registered
Office : |
9th Floor, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
18.03.1999 |
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Com. Reg. No.: |
04-35615 |
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Capital
Investment / Paid-up Capital : |
Rs.69.502 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24231GJ1999PLC035615 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BRDS01031C |
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PAN No.: [Permanent Account No.] |
AALFS0672H/ AAJCS3940B |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer, Supplier, Trader, Exporter and Importer of
Multifunctional Intermediates and Speciality Chemicals. |
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|
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No. of Employees
: |
175 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1600000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having a satisfactory track
record. The latest financials are not made available with the government
department. As per previous year’s, the performance of the company seems to be
good, Financial appears to be strong. Trade relations are reported to be
fair. Business is active. Payments are reported to be usually correct and as
per commitments. The company can be considered for normal business dealings at usual
trade terms and conditions. |
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 |
CARE |
|
Rating |
Long Term Rating: BBB |
|
Rating Explanation |
Having moderate degree of safety regarding timely
servicing of financial obligation, it carry moderate credit risk. |
|
Date |
July, 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. Chirag |
|
Designation : |
Accounts Manager |
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Contact No.: |
91-9824443570 |
|
Date : |
24.01.2013 |
LOCATIONS
|
Registered/ Corporate Office : |
9th Floor, |
|
Tel. No.: |
91-265-2321418 / 2335432 |
|
Mobile No.: |
91-9824443510 (Mr. Chirag Patel) |
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Fax No.: |
91-265-2357238 |
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E-Mail : |
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Website : |
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Area : |
5000 Sq. ft. |
|
Location : |
Owned |
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Factory : |
Block No. 588, Village-Luna, Taluka-Padra. District-Vododara -391440,
Gujarat, India |
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Tel. No.: |
91-2662-221021/ 224360 |
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Fax No.: |
91-2662-223314 |
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Email : |
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Area : |
42000 Sq. Meters |
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Location : |
Owned |
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Sales Office : |
Located at ·
Kandla, Gujarat, India ·
Nariman Point, Mumbai, Maharashtra, India |
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One Alpine Way, |
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Tel. No.: |
973-535-6135 |
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Fax No.: |
973-535-6149 |
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Email : |
NOTE: The Company currently
does not have any office at USA.
DIRECTORS
(AS ON 27.09.2012)
|
Name : |
Mr. Vishal Rakesh Agrawal |
|
Designation : |
Managing Director |
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Address : |
61, Alkapuri Society, Alkapuri, Vododara – 390 005, |
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Date of Birth/Age : |
01.10.1974 |
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Qualification : |
B. Chemical |
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Date of Appointment : |
18.03.1999 |
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DIN No.: |
00056800 |
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|
|
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Name : |
Mr. Rakesh Shivbhagwan Agrawal |
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Designation : |
Director |
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Address : |
61, Alkapuri Society, Alkapuri, Vododara – 390 005, |
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Date of Birth/Age : |
08.06.1947 |
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Qualification : |
B. Chemical |
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Date of Appointment : |
29.09.2001 |
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DIN No.: |
00057955 |
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|
|
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Name : |
Mr. Rahul Rakesh Agrawal |
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Designation : |
Managing Director |
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Address : |
174, 17th Floor, NCPA Apartment, Nariman Point, Mumbai –
400021, Maharashtra, India |
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Date of Birth/Age : |
04.03.1978 |
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Qualification : |
B. Chemical |
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Date of Appointment : |
18.03.1999 |
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DIN No.: |
KEY EXECUTIVES
|
Name : |
Mr. Chirag |
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Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 27.09.2012)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Rakesh S Agrawal |
|
270000 |
|
Vishal R Agrawal |
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270000 |
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Rahul R Agrawal |
|
270000 |
|
Uma R Agrawal |
|
270000 |
|
Tash Investment Private Limited, |
|
5870000 |
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Madhavi V Agrawal |
|
100 |
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Ruchika R Agrawal |
|
100 |
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|
|
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Total |
|
6950200 |
(AS ON 30.09.2012)
Equity Shares Break – up
|
Category |
|
Percentage |
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|
|
|
|
Bodies corporate |
|
84.46 |
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Directors or relatives of directors |
|
15.54 |
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|
|
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Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Supplier, Trader, Exporter and Importer of Multifunctional
Intermediates and Speciality Chemicals.
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Products : |
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Exports : |
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Products : |
· Multifunctional Intermediates · Speciality Chemicals |
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Countries : |
· Japan · Mexico |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
· Singapore · China · Europe · America |
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Terms : |
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Selling : |
L/C and Credit (60 days) |
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Purchasing : |
L/C and Credit (60 days) |
GENERAL INFORMATION
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Customers : |
Manufacturer |
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No. of Employees : |
175 (Approximately) |
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Bankers : |
·
IDBI Bank Limited IDBI Tower WTC Complex, Cuffe Parade, Mumbai – 400005, Maharashtra,
India Contact No.:91-22-66552383 ·
Industrial
Development Bank of India Limited ·
ICICI
Bank ·
IDBI
Bank, Old Padra Road
Branch, Vododara, Gujarat, India ·
Standard
Chartered Bank, Abhijeet II,
Ground Floor, Near Mithakali Six Roads, Ahmedabad – 380006, Gujarat, India Contact No.:
91-79-39404444/ 66014444 · HDFC Bank HDFC Bank House, Senapti Bapat Marg, Lower Parel (West), Mumbai – 400013, Maharashtra, India Contact No.: 91-22-66521308/ 9323620828 |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Talati and Talati Chartered Accountants |
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Address : |
501, |
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Tel. No.: |
91-265-3058025-29 |
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Fax No.: |
91-265-3058027 |
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PAN No.: |
AAAFT4520A |
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Holding Company : |
Tash Investment Private Limited |
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Related Parties : |
·
Geetganga Investment Private Limited ·
Ankshree Investments and Trading Company Private
Limited |
CAPITAL STRUCTURE
(AS ON 27.09.2012)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7000000 |
Equity Shares |
Rs.10/- each |
Rs.70.000 Millions |
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|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6950200 |
Equity Shares |
Rs.10/- each |
Rs.69.502 Millions |
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|
|
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
69.502 |
69.502 |
69.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
327.485 |
192.724 |
59.127 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
396.987 |
262.226 |
128.627 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
19.305 |
13.377 |
62.936 |
|
|
2] Unsecured Loans |
26.600 |
80.000 |
117.225 |
|
|
TOTAL BORROWING |
45.905 |
93.377 |
180.161 |
|
|
DEFERRED TAX LIABILITIES |
0.922 |
2.241 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
443.814 |
357.844 |
308.788 |
|
|
|
|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
383.807 |
220.080 |
146.751 |
|
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Capital work-in-progress |
1.935 |
7.956 |
3.457 |
|
|
|
|
|
|
|
|
INVESTMENT |
25.792 |
0.980 |
0.980 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
125.982
|
47.913
|
41.949 |
|
|
Sundry Debtors |
492.376
|
234.526
|
150.663 |
|
|
Cash & Bank Balances |
14.370
|
15.641
|
0.370
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
208.797
|
133.771
|
59.613 |
|
Total
Current Assets |
841.525
|
431.851
|
252.595
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
652.493
|
201.934
|
51.681 |
|
|
Other Current Liabilities |
1.966
|
4.713
|
14.729 |
|
|
Provisions |
154.786
|
96.376
|
28.585
|
|
Total
Current Liabilities |
809.245
|
303.023
|
94.995
|
|
|
Net Current Assets |
32.280
|
128.828
|
157.600
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
443.814 |
357.844 |
308.788 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Operative revenue, net |
2197.023 |
1078.851 |
812.584 |
|
|
|
Other Income |
20.758 |
7.125 |
17.196 |
|
|
|
TOTAL (A) |
2217.781 |
1085.976 |
829.780 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption material changes inventories |
825.465 |
557.520 |
|
|
|
|
Manufacturing service costs |
92.967 |
63.350 |
|
|
|
|
Employee related expenses |
69.509 |
44.412 |
|
|
|
|
Administrative selling other expenses |
110.567 |
62.235 |
|
|
|
|
Research development expenditure |
0.838 |
0.483 |
|
|
|
|
Restructuring charges |
6.054 |
0.000 |
|
|
|
|
TOTAL (B) |
1105.400 |
728.000 |
643.277 |
|
|
|
|
|
|
|
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1112.381 |
357.976 |
186.503 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST
FINANCIAL CHARGES (D) |
21.248 |
19.394 |
42.541 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1091.133 |
338.582 |
143.962 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
29.284 |
22.806 |
18.848 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
1061.849 |
315.776 |
125.114 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
82.600 |
66.824 |
23.670 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
979.249 |
248.952 |
101.444 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
1049.751 |
707.901 |
471.272 |
|
|
|
|
|
|
|
|
|
|
IMPORTS VALUE |
1396.969 |
541.945 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
140.90 |
35.82 |
14.60 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
44.15 |
22.92 |
12.23 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
48.33 |
29.27 |
15.40 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
86.66 |
48.44 |
31.33 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
2.67 |
1.20 |
0.97 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.15 |
1.51 |
2.14 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.04 |
1.43 |
2.66 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
(Rs. In Millions) |
||
|
Sundry Creditors
|
|
|
|
|
- Creditors due others |
652.493 |
201.934 |
51.681 |
|
|
|
|
|
|
Total |
652.493 |
201.934 |
51.681 |
|
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 |
Yes |
|
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 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 |
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 |
No |
|
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 |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
|
|
|
|
|
|
Deposits related parties unsecured |
26.600 |
80.000 |
|
|
|
|
|
Total |
26.600 |
80.000 |
FORM 8
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10342265 |
|
Corporate
identity number of the company |
U24231GJ1999PLC035615 |
|
Name of the
company |
SHIVA PHARMACHEM LIMITED |
|
Address of the
registered office or of the principal place of business in |
9th Floor, ABS
Towersold Padra Road, Baroda – 390007, Gujarat, India |
|
Type of charge |
Movable Property |
|
Particular of
charge holder |
Standard
Chartered Bank Abhijeet II,
Ground Floor, Near Mthakali Six Roads, Ahmedabad – 380006, Gujarat, India |
|
Nature of
description of the instrument creating or modifying the charge |
dated 31.08.2012 |
|
Date of
instrument Creating the charge |
31.08.2012 |
|
Amount secured by
the charge |
Rs.252.500
Millions |
|
In case amount secured by the charge is in foreign currency, mention
details |
External
Commercial Borrowing of USD 5 Million |
|
Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Rate of Interest The rate of interest
on each utilisation will be (subject to negotiation with the Bank and such
rate will include the Bank's margin of 350 bps per annum added to LIBOR for
the period of utilization Terms of
Repayment Repayment will be
made on each repayment date with an amount which reduces the base currency
amount of the outstanding aggregate
Utilization by an amount equal to 6.25% in 16 equal quarterly
installments after a moratorium of 12 months from the date of first drawdown
(1st installment will become due in the 15th month from the date of first
drawdown) of all Utilizations borrowed by the Borrower as at the close of
business in London on the last day of the Availability period Margin 350 bps per annum
added to LIBOR for the period of Utilization. Extent and
Operation of the charge The Bank is
having first and exclusive charge by way of hypothecation of the Movable
Fixed Assets (both present and future) of the Borrower financed by the
facility as more specifically described in the Schedule of the Unattested
Memorandum of Hypothecation dated 13.02.2012 Others The security by
way of hypothecation has been created in f/o the Bank for securing the ECB
facility to the extent of USD 5 Mio. granted to Shiva Pharmachem Ltd. For the
purpose of filing Form 8, it is clarified that Facility Amount is repayable
in USD, hence any repayment from sale/enforcement proceeds of abovesaid
assets shall be made at prevailing foreign currency exchange rate, for
conversion from Indian Rupees to USD at the time of repayment to ensure full
repayment of the Facility Amount. |
|
Short particulars
of the property charged |
Hypothecation by
way of first exclusive charge on all present &future movable
properties/machineries of the borrower finance by the facility including without
limitation its movable plant and machinery, furniture and fittings,
equipment, computer hardware, computer software, tools and accessories and
other movables, both, whether now lying loose or in cases or which are now
lying or stored in or about
or shall hereafter from time to time during the continuance of the security
of these present by brought into or upon or be stored or be in or about any
or all the borrower's premises, warehouses, stockyards and godowns or those
of the borrower's agents, affiliates, associates or representatives or at
various worksites or at any up country place or places or wherever else the
same may be or be held dated 31.08.2012 which shall be considered part of the
Unattested Memorandum of Hypothecation dated 13.02.2012 |
|
Particulars of
the present modification |
By way of present
modification, the Borrower has now identified the assets availed under the
External Commercial Borrowing Facility and charged to the Bank. Dated 31.08.2012
which is part and parcel of the earlier Unattested Memorandum of
Hypothecation dated 13.02.2012 All other terms and conditions shall remains
the same. |
FIXED ASSETS:
· Land
·
·
· Plant and Machinery
· Furniture
·
D G Set
·
Dead Stock
· Air conditions
· Computers
· Softwares
· Vehicles
· R and D Equipment
· Office Equipments
· Pollution Control Measures
· ISO Tanks
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 records 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 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] 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.53.77 |
|
|
1 |
Rs.85.14 |
|
Euro |
1 |
Rs.71.57 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
44 |
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.