MIRA INFORM REPORT
|
Report Date : |
25.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
GAYATRISHAKTI PAPER AND BOARDS LIMITED |
|
|
|
|
Registered
Office : |
412, Raheja Plaza, Plot No. 15/B, Shah Industrial Estate, Off Link
Road, Andheri (West), Mumbai-400058, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 [Profit and Loss] |
|
|
|
|
Date of
Incorporation : |
20.05.2005 |
|
|
|
|
Com. Reg. No.: |
11-153451 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.96.563
Millions [As on 31.03.2011] |
|
|
|
|
CIN No.: [Company Identification
No.] |
U21010MH2005PLC153451 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Duplex Board. |
|
|
|
|
No. of Employees
: |
400 (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 386000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record.
There appears some dip in the profitability of the company during 2012. However,
trade relations are reported as fair. Business is active. Payment terms are
usually correct. The company can be considered for 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 |
ICRA |
|
Rating |
BBB [Long Term] |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
October 2011 |
|
Rating Agency Name |
ICRA |
|
Rating |
A3+ [Short Term Non Fund-Based Limits] |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
October 2011 |
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. Mahesh Jalan |
|
Designation : |
Director |
|
Contact No.: |
91-9833056614 |
|
Date : |
21.01.2013 |
LOCATIONS
|
Registered / Sales Office : |
412, Raheja Plaza, Plot No.15/B, Shah Industrial Estate, Off Link
Road, Andheri (West), Mumbai – 400058, Maharashtra, India |
|
Tel. No.: |
91-22-42380000 |
|
Mobile No.: |
91-9833056614 (Mr. Mahesh Jalan) |
|
Fax No.: |
91-22-42380011 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Corporate Office : |
Raheja Universal Private Limited, Gala No. 410-416, Raheja Plaza, |
|
Tel. No.: |
91-22-42380000 |
|
Fax No.: |
91-22-42380011 |
|
E-Mail : |
|
|
|
|
|
Factory 1: |
Plot No.799/1, G.I.D.C. Industrial Estate, Vapi- 396 195,
Gujarat, India |
|
Tel. No.: |
91-260-2400451/ 2401588 |
|
Fax No.: |
91-260-2400451 |
|
E-Mail : |
|
|
|
|
|
Factory 2: |
Plot No. 808/C, 3rd Phase, G.I.D.C., Vapi – 396 195,
Gujarat, India |
|
Tel. No.: |
91-260-2430241/ 2400294 |
|
Fax No.: |
91-260-2400294 |
|
|
|
|
Branch Office : |
401 Ruby Place, 74 Ceaser Road, Mumbai 400058, Maharashtra, India |
|
Tel. No.: |
91-22-26796889 |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Gajendra Nagin Agarwal |
|
Designation : |
Managing Director |
|
Address : |
18, Kaushalya, 3rd Floor, 11th Road, JVPD
Scheme, Mumbai – 400056, Maharashtra, India |
|
Date of Birth/Age : |
15.01.1959 |
|
Date of Appointment : |
20.05.2005 |
|
DIN No.: |
|
|
|
|
|
Name : |
Mrs. Meena Gajendra Agarwal |
|
Designation : |
Director |
|
Address : |
18, Kaushalya, 3rd Floor, 11th Road, JVPD
Scheme, Mumbai – 400056, Maharashtra, India |
|
Date of Birth/Age : |
03.11.1961 |
|
Date of Appointment : |
20.05.2005 |
|
DIN No.: |
00231687 |
|
|
|
|
Name : |
Mr. Mahesh Narottam Jalan |
|
Designation : |
Director |
|
Address : |
601, Gulmohar Complex, Asha Nagar, Kandivali (East), Mumbai, Maharashtra,
India |
|
Date of Birth/Age : |
18.09.1971 |
|
Date of Appointment : |
20.05.2005 |
|
DIN No.: |
00231855 |
|
|
|
|
Name : |
Mr. Nikhar Gajendra Agarwal |
|
Designation : |
Director |
|
Address : |
18, Kaushalya, 3rd Floor, 11th Road, JVPD Scheme,
Mumbai – 400056, Maharashtra, India |
|
Date of Birth/Age : |
10.11.1989 |
|
Date of Appointment : |
26.07.2011 |
|
DIN No.: |
03584331 |
KEY EXECUTIVES
|
Name : |
Mr. Navin B. Choudhary |
|
Designation : |
Company Secretary |
|
Address : |
201-C, Landmark Building, P G Marg, Malad (West), Mumbai-400064,
Maharashtra, India |
|
Date of Birth/Age : |
01.07.1966 |
|
Date of Appointment : |
15.04.2004 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Gajendra Nagin Agarwal |
|
5384000 |
|
Meena Gajendra Agarwal |
|
615600 |
|
Kherani Paper Mills Private Limited |
|
3656250 |
|
Mangilal B. Suthar |
|
100 |
|
Suresh P. Panchal |
|
100 |
|
K G Varghese |
|
100 |
|
M D Anthony |
|
100 |
|
|
|
|
|
Total |
|
9656250 |
AS ON 29.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
37.86 |
|
Directors
or relatives of directors |
|
62.13 |
|
Other
top fifty shareholders |
|
0.01 |
|
TOTAL |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Duplex Board. |
|
|
|
|
Exports : |
|
|
Products : |
Finished Goods |
|
Countries : |
|
|
|
|
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Imports : |
|
|
Products : |
Raw Materials |
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
PRODUCTION STATUS [AS ON 31.03.2011]
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Duplex Board/Paper Board |
MT |
80000 |
70000 |
-- |
|
Duplex Board |
MT |
-- |
-- |
79942.71 |
NOTE: The installed
capacity as shown above has been certified by Management and not verified by the
Auditors, being technical matter.
GENERAL INFORMATION
|
Customers : |
Others |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
No. of Employees : |
400 (Approximately) |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
· Bank of India, Andheri Corporate Banking Branch, MDI Building, 28 S V Road, Andheri (West), Mumbai-400058, Maharashtra, India · Bank of India, ALC Branch, MDI Building, S. V. Road, Andheri (West), Mumbai-400058, Maharashtra, India · Oriental Bank of Commerce, Prabhadevi Branch, Aman Chambers, 1st Floor, Opposite New Passport Office, Veer Savarkar Marg, Mumbai-400025, Maharashtra, India · IDBI Bank Limited · Punjab National Bank · Bombay Mercantile Co-operative Bank |
|||||||||||||||||||||||||||
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|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial
Institution : |
|
|
|
|
|
Auditors : |
|
|
Name : |
Ashok Bairagra and Associates Chartered Accountants |
|
Address : |
404, Shubham Centre, C G Road, Andheri (East), Mumbai – 400099,
Maharashtra, India |
|
Tel. No.: |
91-22-28259939/ 28259940 |
|
Fax No.: |
91-22-28259942 |
|
E-Mail : |
|
|
PAN No: |
AAEFA7363C |
|
|
|
|
Associates/Subsidiaries : |
|
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
20000000 |
Equity Shares |
Rs.10/- each |
Rs.200.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
9656250 |
Equity Shares |
Rs.10/- each
|
Rs.96.563
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
96.563 |
96.563 |
|
|
2] Share Application Money |
|
17.000 |
3.000 |
|
|
3] Reserves & Surplus |
|
289.750 |
222.673 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
403.313 |
322.236 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
508.078 |
508.948 |
|
|
2] Unsecured Loans |
|
209.510 |
192.868 |
|
|
TOTAL BORROWING |
|
717.588 |
701.816 |
|
|
DEFERRED TAX LIABILITIES |
|
106.147 |
107.132 |
|
|
|
|
|
|
|
|
TOTAL |
|
1227.048 |
1131.184 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
781.676 |
799.671 |
|
|
Capital work-in-progress |
|
7.462 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
11.589 |
10.983 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
378.975 |
329.826
|
|
|
Sundry Debtors |
|
309.057 |
238.921
|
|
|
Cash & Bank Balances |
|
1.411 |
2.593
|
|
|
Other Current Assets |
|
0.000 |
0.000
|
|
|
Loans & Advances |
|
89.647 |
63.159
|
|
Total
Current Assets |
|
779.090 |
634.499 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
216.500 |
220.116
|
|
|
Other Current Liabilities |
|
24.958 |
21.541
|
|
|
Provisions |
|
111.311 |
72.312
|
|
Total
Current Liabilities |
|
352.769 |
313.969
|
|
|
Net Current Assets |
|
426.321 |
320.530
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
1227.048 |
1131.184 |
|
NOTE: Balance
Sheet for the year 2012 is not available, only Profit and Loss is available.
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2571.940 |
2508.371 |
1770.580 |
|
|
|
Other Income |
5.166 |
2.992 |
1.934 |
|
|
|
TOTAL (A) |
2577.106 |
2511.363 |
1772.514 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption materials changes inventories |
|
1623.179 |
1094.865 |
|
|
|
Manufacturing service costs |
|
392.646 |
313.994 |
|
|
|
Employee related expenses |
|
65.344 |
55.709 |
|
|
|
Administrative selling other expenses |
|
180.179 |
123.757 |
|
|
|
TOTAL (B) |
2484.947 [Including
Financial Expenses and Depreciations] |
2261.348 |
1588.325 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
250.015 |
184.189 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
76.768 |
72.638 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
173.247 |
111.551 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
52.832 |
48.304 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
92.159 |
120.415 |
63.247 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
31.854 |
39.826 |
23.776 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
60.305 |
80.589 |
39.471 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
247.912 |
182.835 |
158.196 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
2.000 |
1.275 |
|
|
|
Proposed Dividend – Equity Shares |
3.862 |
11.588 |
11.588 |
|
|
|
Corporate Dividend Tax |
0.626 |
1.924 |
1.969 |
|
|
BALANCE CARRIED TO
THE B/S |
303.729 |
247.912 |
182.835 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Exports |
NA |
429.557 |
205.333 |
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
-- |
8.35 |
4.09 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
2.34
|
3.21 |
2.23
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.58
|
4.80 |
3.57
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
7.72 |
4.41
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.30 |
0.20
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
NA
|
2.65 |
3.15
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
NA
|
2.21 |
2.02
|
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY CREDITORS:
|
Particulars |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
|
Sundry Creditors |
216.500 |
220.116
|
|
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 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 |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
NOTE: The director’s recommend dividend at the rate
of 4% on 9656250 equity shares of Rs.10/- each fully paid up for the year
2011-12 subject to approval by shareholders in annual general meeting.
|
Unsecured Loan |
As
on 31.03.2011 [Rs.
in Millions] |
As
on 31.03.2010 [Rs.
in Millions] |
|
Other debt |
209.510 |
192.868 |
|
TOTAL
|
209.510 |
192.868 |
FUTURE PROSPECTS:
The sluggish market
conditions coupled with recession and competition in the paper industry still
persists. Barring any unforeseen circumstances, the Board is of the opinion of
improving the results in the coming year.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U21010MH2005PLC153451 |
|
Name of the
company |
GAYATRISHAKTI
PAPER & BOARDS LIMITED |
|
Address of the
registered office or of the principal place of business in |
412, Raheja Plaza, Plot No.15/B, Shah Industrial Estate, Off Link
Road, Andheri (West), Mumbai – 400058, Maharashtra, India |
|
Type of charge |
Movable Property
[not being pledge] |
|
Particular of
charge holder |
Siemens Financial Services Private Limited, 130, Pandurang Budhkar
Marg, Worli, Mumbai-400018, Maharashtra, India Email: navin.joshi@siemens.com |
|
Nature of
description of the instrument creating or modifying the charge |
Loan agreement
and hypothecation agreement |
|
Date of
instrument Creating the charge |
31.12.2012 |
|
Amount secured by
the charge |
Rs.19.400
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest 13.75% p.a. fixed Terms of Repayment shall be
repayable in 24 installments Margin Contributed by
borrower Extent and Operation of the charge First and
exclusive charge of Siemens Financial Services Private Limited on asset
financed vide agreement dated 31.12.2012. |
|
Short particulars
of the property charged |
Asset DETAILS - Press roll 910 mm
X 3250 mm Dryer Cylinder
1500MM X 3400 MM Suction Press
Roll Suction Return
Roll Slat Conveyor Asset Location - 799/1,
Phase III, GIDC, Vapi, Gujarat |
FIXED ASSETS:
- Building
- Plant and
Machinery
- Office
Equipments
- Factory
Equipments
- Land and Land
Improvements
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.85 |
|
|
1 |
Rs.85.25 |
|
Euro |
1 |
Rs.71.72 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--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.