|
Report Date : |
25.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
FEROLITE JOINTINGS LIMITED |
|
|
|
|
Formerly Known
As : |
FEROLITE JOINTINGS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
341 Pratap Khand, Vishwakarma Nagar, Shahadra, Delhi – 110095 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
23.10.1989 |
|
|
|
|
Com. Reg. No.: |
55-038118 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 4.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U36999DL1989PLC038118 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MRTF00017D |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturers and Exporters of Compressed Asbestors Fibre Sheet and Jointing Gasket Sheets. |
|
|
|
|
No. of Employees
: |
450 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 860000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established company having a good track record.
Financially company seems to be good. Liquidity position of the company is
strong. Performance capacity is high. Trade relations are reported to be
fair. Business is active. Payments are reported to be regular and as per
commitment. 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.
ECGC Country Risk Classification List – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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. Lalit |
|
Designation : |
Senior Deputy Export Manager |
|
Contact No.: |
91-120-4051500 |
|
Date : |
24.07.2013 |
LOCATIONS
|
Registered Office : |
341 Pratap Khand, Vishwakarma Nagar, Shahadra, Delhi – 110 095, India |
|
Tel. No.: |
91-11-20040362 / 2702655 / 2701517 / 2700323 / 2700291 |
|
Fax No.: |
91-11-2701002 / 2740973 / 2757012 / 2700291 |
|
E-Mail : |
export@ferolite.com |
|
Website : |
|
|
Area : |
4500 Sq. ft. |
|
Location : |
Owned |
|
|
|
|
Factory : |
C-178, Site No. 1, Buland Shahar Road, Industrial Area, Ghaziabad - 201 001, Uttar Pradesh, India |
|
Tel. No.: |
91-120-2702655/2701517/2700323/2757012/2700291 |
|
Fax No.: |
91-120-2701002 |
|
E-Mail : |
DIRECTORS
AS ON: 30.09.2012
|
Name : |
Mr. Ashok Kumar Sharma |
|
Designation : |
Managing Director |
|
Address : |
R – 9/168, Raj Nagar, Ghaziabad – 201002, Uttar Pradesh, India |
|
Date of Birth : |
30.04.1949 |
|
Date of Appointment : |
01.10.2008 |
|
DIN No.: |
00094738 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U36999DL1989PLC038118
|
FEROLITE JOINTINGS
LIMITED. |
Managing
director |
01/10/2008 |
28/10/1991 |
Active |
NO |
|
2 |
U74899DL1994PTC058995
|
SUPERLITE AUTO
PRIVATE LIMITED |
Director |
12/05/1994 |
12/05/1994 |
Active |
NO |
|
3 |
U65923DL1996PTC077362
|
SUNLITE FINVEST PRIVATE
LIMITED |
Director |
20/03/1996 |
20/03/1996 |
Active |
NO |
|
Name : |
Mr. Akshay Sharma |
|
Designation : |
Director |
|
Address : |
R – 9/168, Raj Nagar, Ghaziabad – 201002, Uttar Pradesh, India |
|
Date of Birth : |
23.04.1976 |
|
Date of Appointment : |
24.03.2000 |
|
DIN No.: |
00094758 |
|
|
|
|
Name : |
Ms. Sudha Sharma |
|
Designation : |
Additional director |
|
Address : |
R – 9/168, Raj Nagar, Ghaziabad – 201002, Uttar Pradesh, India |
|
Date of Birth : |
09.10.1957 |
|
Date of Appointment : |
22.12.2010 |
|
DIN No.: |
00094884 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U74899DL1994PTC058995
|
SUPERLITE AUTO
PRIVATE LIMITED |
Director |
12/05/1994 |
12/05/1994 |
Active |
NO |
|
2 |
U29199DL1997PTC089459
|
HILITE
INDUSTRIES PRIVATE LIMITED |
Director |
05/09/1997 |
05/09/1997 |
Active |
NO |
|
3 |
U36999DL1989PLC038118
|
FEROLITE
JOINTINGS LIMITED. |
Additional
director |
22/12/2010 |
22/12/2010 |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 30.09.2012
|
Names of Shareholders |
No. of Shares |
|
Ashok Kumar Sharma |
17985 |
|
Akshay Sharma |
9730 |
|
Sudha Sharma |
1200 |
|
Preeti Sharma |
1400 |
|
Krishna Devi Family Trust |
50 |
|
Anand Behari Sharma |
850 |
|
M/s. Superlite Auto Private Limited, Uttar Pradesh, India |
2450 |
|
M/s. Sunlite Finvest Private Limited, Uttar Pradesh, India |
6335 |
|
TOTAL |
40000 |
AS ON: 30.09.2012
|
Equity Share Break up (Percentage of Total Equity) |
Percentage |
|
Bodies corporate |
22.00 |
|
Directors or relatives of Directors |
78.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers and Exporters of Compressed Asbestors Fibre Sheet and Jointing Gasket Sheets. |
|
|
|
|
Exports : |
|
|
Countries : |
·
Singapore ·
Egypt ·
Korea ·
USA ·
Dubai ·
Turkey ·
Russia ·
Saudi Arabia |
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
·
China ·
Netherland |
|
|
|
|
Terms : |
|
|
Selling : |
Cash, Credit |
|
|
|
|
Purchasing : |
Cash, Credit |
GENERAL INFORMATION
|
Customers : |
·
Wholesalers ·
Retailers ·
End Users ·
OEM’s |
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
450 (Approximately) |
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Bankers : |
|
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|||||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Anil Vaish and Company Chartered Accountants |
|
Address : |
C-98, III Floor, RDC, Raj Nagar, Ghaziabad – 201002, Uttar
Pradesh, India |
|
Tel. No.: |
91-11-2822234/ 2822236 |
|
PAN.: |
AAVFA8212F |
CAPITAL STRUCTURE
AS ON: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.100/- each |
Rs. 5.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
40000 |
Equity Shares |
Rs.100/-
each |
Rs. 4.000
Millions |
|
|
|
|
|
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 |
|
4.000 |
4.000 |
|
(b) Reserves & Surplus |
|
211.090 |
164.514 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
215.090 |
168.514 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
19.647 |
17.772 |
|
(b) Deferred tax liabilities (Net) |
|
3.795 |
4.028 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
|
23.442 |
21.800 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
|
0.674 |
0.779 |
|
(b) Trade payables |
|
35.673 |
64.729 |
|
(c) Other current liabilities |
|
38.941 |
33.212 |
|
(d) Short-term provisions |
|
25.162 |
19.197 |
|
Total Current Liabilities (4) |
|
100.450 |
117.917 |
|
|
|
|
|
|
TOTAL |
|
338.982 |
308.231 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
67.525 |
64.619 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
6.371 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
3.456 |
2.702 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
77.352 |
67.321 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
85.671 |
86.091 |
|
(c) Trade receivables |
|
69.699 |
94.500 |
|
(d) Cash and cash
equivalents |
|
66.582 |
27.854 |
|
(e) Short-term loans
and advances |
|
39.678 |
32.465 |
|
(f) Other current
assets |
|
0.000 |
0.000 |
|
Total Current Assets |
|
261.630 |
240.910 |
|
|
|
|
|
|
TOTAL |
|
338.982 |
308.231 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
4.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
128.605 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
132.605 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
5.371 |
|
|
2] Unsecured Loans |
|
|
19.229 |
|
|
TOTAL BORROWING |
|
|
24.600 |
|
|
DEFERRED TAX LIABILITIES |
|
|
4.339 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
161.544 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
62.709 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
57.420 |
|
|
Sundry Debtors |
|
|
102.679 |
|
|
Cash & Bank Balances |
|
|
15.396 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
30.110 |
|
Total
Current Assets |
|
|
205.605 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
72.561 |
|
|
Other Current Liabilities |
|
|
16.007 |
|
|
Provisions |
|
|
18.202 |
|
Total
Current Liabilities |
|
|
106.770 |
|
|
Net Current Assets |
|
|
98.835 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
161.544 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
742.623 |
659.400 |
597.364 |
|
|
|
Other Income |
6.347 |
4.929 |
3.346 |
|
|
|
Other Non Operating Income |
1.320 |
0.679 |
0.000 |
|
|
|
TOTAL (A) |
750.290 |
665.008 |
600.710 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Raw Material Consumed |
492.481 |
430.886 |
534.006 |
|
|
|
Employee Benefit Expenses |
37.630 |
35.197 |
|
|
|
|
Other Expenses |
136.205 |
136.655 |
|
|
|
|
Changes in Inventory of Finished and Semi-Finished Good |
(5.201) |
(7.812) |
|
|
|
|
TOTAL (B) |
661.115 |
594.926 |
534.006 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
89.175 |
70.082 |
66.704 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
7.787 |
5.630 |
5.809 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
81.388 |
64.452 |
60.895 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
9.837 |
9.569 |
8.520 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
71.551 |
54.883 |
52.375 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
23.812 |
18.277 |
18.302 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
47.739 |
36.606 |
34.073 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
144.176 |
113.267 |
84.896 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Divided |
1.000 |
0.600 |
0.600 |
|
|
|
Tax on Dividend |
0.162 |
0.097 |
0.102 |
|
|
|
Transfer to General Reserve |
10.000 |
5.000 |
5.000 |
|
|
BALANCE CARRIED
TO THE B/S |
180.753 |
144.176 |
113.267 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
|
|
F.O.B. Value of Export Earnings |
312.795 |
269.852 |
219.425 |
|
|
TOTAL EARNINGS |
312.795 |
582.647 |
489.277 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
CIF Value of Raw Materials |
119.369 |
92.662 |
79.213 |
|
|
TOTAL IMPORTS |
119.369 |
212.031 |
171.875 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1193.46 |
915.16 |
851.82 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
6.36
|
5.50 |
5.67 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
9.63
|
8.32 |
8.77 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
21.51
|
17.81 |
19.52 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.33
|
0.33 |
0.39 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.09
|
0.11 |
0.19 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.60
|
2.04 |
1.93 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info
Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
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 |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
|
Unsecured Loan |
Rs.
In Millions 31.03.2012 |
Rs.
In Millions 31.03.2011 |
|
Long Term
Borrowing |
|
|
|
From Directors and Promoters’ |
11.695 |
6.695 |
|
From Body Corporate |
4.609 |
5.409 |
|
From Others |
2.800 |
4.450 |
|
|
|
|
|
TOTAL |
19.104 |
16.554 |
REVIEW OF OPERATIONS:
The company achieved sales of Rs.742.623 Millions during the year 2011-12 as compared to Rs. 659.399 Millions in 2010-11 showing an increase of 12.62 % p.a. Net profit of the company have impressively increased during the year 2011-12 to Rs.47.739 Millions as compared to Rs. 36.606 Millions in 2010-11 showing increase of 30.41% p.a.
|
S.
No. |
Charge
ID |
Date
of Charge Creation/Modification |
Charge
amount secured |
Charge
Holder |
Address
|
Service
Request Number (SRN) |
|
1 |
10158824
|
30/03/2009
|
470,000.00
|
Punjab
National Bank |
Branch
Navyug Market, Ghaziabad, Ghaziabad, Uttar |
A62654694
|
|
2 |
90062562
|
11/01/2013
* |
46,100,000.00
|
PUNJAB
NATIONAL BANK |
Navyug
Market branch,, Navyug Market, Ghaziabad, |
B67506469
|
|
3 |
90062516
|
19/08/2011
* |
46,204,000.00
|
Punjab
National Bank |
Branch
Navyug Market, Navyug Market, Ghaziabad, U |
B22893770
|
|
4 |
90062477
|
05/11/2003
* |
28,000,000.00
|
PUNJAB
NATIONAL BANK BRANCH |
NAVYUG
MARKET, GHAZIABAD, Uttar Pradesh, INDIA |
- |
|
5 |
90062386
|
19/08/2011
* |
46,204,000.00
|
Punjab
National Bank |
Branch
Navyug Market, Navyug Market, Ghaziabad, Uttar Pradesh - 201001, INDIA |
B22895965
|
FIXED ASSETS:
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. 59.44 |
|
|
1 |
Rs. 91.24 |
|
Euro |
1 |
Rs. 78.43 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
TOTAL |
|
50 |
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.