MIRA
INFORM REPORT
|
Report Date : |
13.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
KUSH SYNTHEITCS PRIVATE LIMITED |
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Registered Office : |
209, Thakore Bai, Mithaiwala Market, Above Bank of Rajasthan, Sahara
Gate Road, Surat – 395 003, Gujarat |
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Country : |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
20.10.1997 |
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Com. Reg. No.: |
04-033214 |
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Capital Investment / Paid-up Capital : |
Rs.137.500
Millions |
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CIN No.: [Company
Identification No.] |
U17110GJ1997PTC033214 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
SRTK00129D |
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PAN No.: [Permanent
Account No.] |
AABCK2282J |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Subject is into the
business of manufacturing of glass fibre fabrics, which finds application in the
production of wind turbine blades. |
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No. of Employees : |
150 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (49) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 3008000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a satisfactory track record. Even though the company has seen a slight dip in its sales turnover,
there appears decent profit margin during 2012. Trade relations are fair. Business is active. Payment terms are
regular. The company can be considered normal 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long Term Fund Based Limits: BB |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
July 11, 2013 |
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 (GENERAL DETAILS)
|
Name : |
Mr. Sunil Bachwani |
|
Designation : |
Accounts Manager |
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Contact No.: |
91-9925633389 |
|
Date : |
12.07.2013 |
LOCATIONS
|
Registered Office : |
209, Thakore Bai, Mithaiwala Market, Above Bank of Rajasthan, Sahara
Gate Road, Surat – 395 003, Gujarat, India |
|
Tel. No.: |
91-261-2344251/ 2322715 |
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Mobile No.: |
91-9925633389 (Mr. Sunil Bachwani) |
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Fax No.: |
91-261-2344253 |
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E-Mail : |
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Website : |
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Area : |
1000 sq. ft. |
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Location : |
Owned |
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Administrative Office : |
303, Zodiac Square, S.G. Highway (Opposite Gurudwara), Thaltej,
Ahmedabad – 380 054, Gujarat, India |
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Tel. No.: |
91-79-40092299 |
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Fax No.: |
91-79-40092299 |
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E-Mail : |
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Factory : |
Glass
Fibre Unit Survey No.146-147, Village: Moti Chirai, N.H. 8-A,
Gandhidham – Bhachau Road, Bhachau (Kutch) – 370 140, Gujarat, India |
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Tel No.: |
91-2837-282374 |
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Fax N.: |
91-2837-282375 |
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Area : |
13 Acers |
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Location : |
Owned |
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Overseas Office : |
12700 Stowe Drive, Suite 230, Poway, CA – 92064, United
States Ph No.: +1 858 679 7300 Fax No.: +1 858 679 7335 European Office: Springendalhoek 48, 7546GT Enschede (Overijssel),
Netherlands Ph No.: +31 53 4772401 Fax No: +31 84 7101329 |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Mansukhlal Karsandas Patel |
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Designation : |
Director |
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Address : |
Digvijay Plot, Sumer Club Road, Jamnagar – 361 004, Gujarat, India |
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Date of Birth/Age : |
17.12.1952 |
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Date of Appointment : |
20.10.1997 |
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DIN No.: |
00873403 |
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PAN No.: |
ABJPP7390J |
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Name : |
Mr. Dineshchandra Karsanbhai Patel |
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Designation : |
Director |
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Address : |
Digvijay Plot, Sumer Club Road, Jamnagar – 361 004, Gujarat, India |
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Date of Birth/Age : |
13.05.1958 |
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Date of Appointment : |
20.10.1997 |
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DIN No.: |
02209650 |
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PAN No.: |
ABJPP7388Q |
KEY EXECUTIVES
|
Name : |
Mr. Sunil Bachwani |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
No. of Equity
Shares |
|
Mansukhlal K. Patel |
500000 |
|
Dineshchandra K. Patel |
1000000 |
|
Karsanbhai B. Patel |
750000 |
|
Mansukhbhai K. Patel (HUF) |
500000 |
|
Dineshbhai K. Patel (HUF) |
1500 |
|
Kiranben M. Patel |
2000000 |
|
Rasilaben D. Patel |
2000000 |
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Karsanbhai K. Patel |
748500 |
|
Kishorbhai K. Patel |
500000 |
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Total |
8000000 |
|
Names of Shareholders |
No. of
Preference Shares |
|
Mansukhbhai K. Patel |
750000 |
|
Dineshchandra K. Patel |
420000 |
|
Karsanbhai B. Patel |
750000 |
|
Mansukhbhai K. Patel (HUF) |
200000 |
|
Kiranben M. Patel |
560000 |
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Kesarben K. Patel |
490000 |
|
Kishorbhai K. Patel |
300000 |
|
Vibhaben K. Patel |
780000 |
|
Jay Dinesh Virani |
1500000 |
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Total |
5750000 |
AS ON 30.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
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Category |
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|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Subject is into the
business of manufacturing of glass fibre fabrics, which finds application in
the production of wind turbine blades. |
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Products : |
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Exports : |
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Products : |
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Countries : |
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Imports : |
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Products : |
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Countries : |
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Terms : |
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Selling : |
Credit and Credit |
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Purchasing : |
Credit and Credit |
PRODUCTION STATUS (AS ON 31.03.2012)
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Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
|
Knitting Machines |
MT |
8000* |
8000* |
|
Knitting Machines- Biaxial |
MT |
2000* |
2000* |
|
Knitting Machine- Multiaxial |
MT |
2000* |
2000* |
*Licensed and Installed capacity is taken by the auditor as certified by
the management without verification into technical aspect.
|
Particulars |
Actual
Production |
|
Glass Fiber Fabrics (in Kgs.)* |
9394931 |
*exclusive of wastage
GENERAL INFORMATION
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Customers : |
End Users |
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No. of Employees : |
150 (Approximately) |
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Bankers : |
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Facilities : |
LC: Rs.90.000 Millions and Cash Credit : Rs.120.000 Millions (From
State Bank of Patiala, Surat)
Notes: Long-Term Borrowings (A) Rs.6.903
millions from ICICI Bank - Secured by 1.5 MW wind mill at Suthri, Kutch,
Gujarat Rs.28.692
millions from State Bank of Patiala - Secured by Plant and Machinery (B) Rs.24.857
millions (ICICI Bank) secured by 1.5mw mill at Suthri, Kutch, Gujarat. Rs.68.239
millions (State Bank of Patiala) secured by Plant and Machinery. Rs.14.574 millions (State Bank of Patiala) secured by Godown. Short-Term Borrowings (A) Rs.7.516
millions Loan from IndusInd Bank secured by Stock. Rs.55.186
millions and Rs.7.777 millions Loan from State Bank of Patiala secured by
Stock. (B) Loan of
Rs.55.186 millions and Rs.7.777 millions (State Bank of Patiala) secured by
stock. Rs.7.516 millions (IndusInd Bank) secured by fixed deposit. |
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Banking
Relations : |
-- |
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Financial Institutions : |
3i Infotech Trusteeship Services Limited, 3rd to 6th
Floor, International Infotech Park, Tower No.5, Vashi Railway Station Complex,
Vashi, Navi Mumbai – 400 703, Maharashtra, India |
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Auditors : |
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Name : |
V.H. Gundarwala and Company Chartered Accountants |
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Address : |
Gate No.6, 123,
1st Floor, Multi Storied Building, Near Vatsalya Hospital,
Singapuri Wadi, Rustompura, Surat – 395 002, Gujarat, India |
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Tel No.: |
91-261-2353116 |
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Mobile No.: |
91-9824123329 |
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E-Mail : |
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PAN No.: |
ABHPG3627M |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
8750000 |
Equity Shares |
Rs.10/- each |
Rs.87.500 Millions |
|
5750000 |
Preference Shares |
Rs.10/- each |
Rs.57.500 Millions |
|
|
Total |
|
Rs.145.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
8000000 |
Equity Shares |
Rs.10/- each |
Rs.80.000 Millions |
|
5750000 |
Preference Shares |
Rs.10/- each |
Rs.57.500 Millions |
|
|
Total |
|
Rs.137.500 Millions |
Terms / Right
Attached Equity Shares
In the event of
liquidation of the company, the holder of equity shares will be entitled to
receive any of the remaining assets of the company, after distribution of all preferential
amounts. However, preferential amount of Rs.57.500 millions exists exist
currently. The remaining amounts shall be distributed to the equity share
holders in the number of equity shares held by them.
Terms / Right
Attached Preference Shares
In the event of
liquidation of the company, the holder of preference shares will be entitled to
receive towards their
preferencial
rights prior to equity share holders against the assets of the company. There
is preferential amount of Rs.57.500 millions exists currently.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1) Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
137.500 |
137.500 |
|
(b) Reserves & Surplus |
|
614.562 |
477.931 |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
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|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
752.062 |
615.431 |
|
|
|
|
|
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(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
|
36.642 |
107.681 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long
term liabilities |
|
0.707 |
0.707 |
|
(d) Long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
37.349 |
108.388 |
|
|
|
|
|
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(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
79.957 |
14.844 |
|
(b) Trade
payables |
|
6.672 |
44.762 |
|
(c)
Other current liabilities |
|
52.348 |
45.015 |
|
(d) Short-term
provisions |
|
312.913 |
258.267 |
|
Total Current
Liabilities (4) |
|
451.890 |
362.888 |
|
|
|
|
|
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TOTAL |
|
1241.301 |
1086.707 |
|
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|
|
|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
391.889 |
384.473 |
|
(ii)
Intangible Assets |
|
0.015 |
0.000 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
37.547 |
37.788 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
207.415 |
159.714 |
|
(e) Other Non-current
assets |
|
12.395 |
14.166 |
|
Total Non-Current
Assets |
|
649.261 |
596.141 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
126.230 |
103.220 |
|
(c)
Trade receivables |
|
180.293 |
163.838 |
|
(d) Cash
and cash equivalents |
|
213.136 |
185.645 |
|
(e)
Short-term loans and advances |
|
72.381 |
37.863 |
|
(f)
Other current assets |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
592.040 |
490.566 |
|
|
|
|
|
|
TOTAL |
|
1241.301 |
1086.707 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
137.500 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
344.667 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
482.167 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
210.694 |
|
|
2] Unsecured Loans |
|
|
6.276 |
|
|
TOTAL BORROWING |
|
|
216.970 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
699.137 |
|
|
|
|
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|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
367.711 |
|
|
Capital work-in-progress |
|
|
85.705 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
35.714 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
101.734
|
|
|
Sundry Debtors |
|
|
258.581
|
|
|
Cash & Bank Balances |
|
|
108.744
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
168.713
|
|
Total
Current Assets |
|
|
637.772 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
236.556 |
|
|
Other Current Liabilities |
|
|
0.036
|
|
|
Provisions |
|
|
191.173
|
|
Total
Current Liabilities |
|
|
427.765 |
|
|
Net Current Assets |
|
|
210.007
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
699.137 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
1042.412 |
1071.048 |
658.195 |
|
|
|
Other Income |
10.739 |
16.003 |
3.030 |
|
|
|
TOTAL |
1053.151 |
1087.051 |
661.225 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
621.564 |
649.220 |
507.222 |
|
|
|
Change in Inventories |
1.586 |
(6.728) |
|
|
|
|
Employee Benefits Expense |
20.062 |
16.608 |
|
|
|
|
Other Expenses |
130.432 |
122.835 |
|
|
|
|
TOTAL |
773.644 |
781.935 |
507.222 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
279.507 |
305.116 |
154.003 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
27.101 |
30.171 |
32.693 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
252.406 |
274.945 |
121.310 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
61.896 |
74.912 |
50.566 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
190.510 |
200.033 |
70.744 |
|
|
|
|
|
|
|
|
|
|
CURRENT TAX |
50.000 |
45.000 |
19.500 |
|
|
|
DEFERRED TAX |
4.149 |
21.700 |
5.005 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
136.631 |
133.264 |
46.135 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
462.931 |
329.667 |
283.532 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
599.562 |
462.931 |
329.667 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
184.072 |
114.003 |
39.924 |
|
|
TOTAL IMPORTS |
184.072 |
114.003 |
39.924 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
17.08 |
16.67 |
5.78 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
12.97 |
12.26
|
6.98
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
18.28 |
18.68
|
10.75
|
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|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
15.83 |
19.07
|
7.04
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.25 |
0.33
|
0.15
|
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|
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|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.16 |
0.20
|
0.45
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.31 |
1.35
|
1.49
|
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors:
|
Particulars |
31.03.2012 (Rs. in millions) |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
|
Sundry Creditors |
6.672 |
44.762 |
236.556 |
|
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 |
No |
|
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)
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32)
PAN 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 |
|
Unsecured Loans |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
in Millions) |
|
SHORT-TERM BORROWINGS |
|
|
|
Loans and advances from directors |
9.478 |
9.275 |
|
Total
|
9.478 |
9.275 |
RESULT OF OPERATIONS:
The revenue generated
from the operational activities of the Company has decreased as compared to
last year. As a result there of, the profit of the company also decreased from
Rs.200.033 millions to Rs.190.510 millions. The directors are hopeful for
better operational results of the company in years to come.
The revenue from export of Glass Fibre Fabrics increased from Rs.349.896
millions to Rs.350.121 millions.
CONTINGENT LIABILITIES (AS ON 31.03.2012):
The company had
given Bank Guarantee amounting to Rs.0.920 million to Assistant Commissioner of
Central Excise, Bhuj which was elapsed during mid of the year and no further
guarantee has been given.
FIXED ASSETS:
·
Land
·
Buildings
·
Plant and Equipment
·
Vehicles
·
Furniture and Fixtures
·
Office Equipments
·
Computer Equipments
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.59.90 |
|
|
1 |
Rs.90.88 |
|
Euro |
1 |
Rs.78.32 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
6 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
49 |
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.