MIRA
INFORM REPORT
|
Report Date : |
07.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
CHANDRESH CABLES LIMITED |
|
|
|
|
Registered
Office : |
413/C, Vasant Wadi, 4th Floor, Room No.28, Kalabadevi Road, Mumbai –
400002, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
21.12.1981 |
|
|
|
|
Com. Reg. No.: |
11-025897 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.20.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31300MH1981PLC025897 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Cables and Wires. |
|
|
|
|
No. of Employees
: |
250 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (36) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1260000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. The profitability
of the company seems to be low. The company also has weak debt protection. The rating also take into considered the stiff competition from
organized playees and raw material price fluctuation. However, trade relations are reported to be fair. Business is active.
Payments are reported to be slow but correct. The company can be considered for business dealings with some caution.
|
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 |
CARE |
|
Rating |
BB (Long Term Bank Facilities) |
|
Rating Explanation |
Rating is considered to have high risk of default regarding timely servicing of financial obligation. |
|
Date |
September 14, 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. Uday Narvekar |
|
Designation : |
Accountant |
|
Contact No.: |
91-9428355199 |
|
Date : |
06.06.2013 |
LOCATIONS
|
Registered Office : |
413/C, Vasant Wadi, 4th Floor, Room No.28, Kalabadevi Road, Mumbai –
400002, Maharashtra, India |
|
Tel. No.: |
91-22-22089723 |
|
Mobile No.: |
91-9428355199 (Mr. Uday Narvekar) |
|
Fax No.: |
91-22-22063059 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office/
Head Office : |
G-6, Madhavpura Market, Near Police Commissioner's Office,
Shahibaug Road, Ahmedabad - 380004, Gujarat,
India |
|
Tel. No.: |
91-79-25623055/ 25623056/ 25623057 |
|
Fax No.: |
91-79-25626067 |
|
E-Mail : |
|
|
|
|
|
Factory : |
Block No. 1108, Chhatral,
Taluka Kalol (Gandhinagar), Gujarat, India |
|
Tel. No.: |
91-2764-232251/ 233352 |
|
Fax No.: |
91-2764-234151 |
|
E-Mail : |
DIRECTORS
As on: 30.09.2012
|
Name : |
Mr. Khimraj Ganeshmal Balar |
|
Designation : |
Director |
|
Address : |
2 Rita Park Society, Shahibaug, Ahmedabad – 380004, Gujarat, India |
|
Date of Birth/Age : |
15.04.1938 |
|
Date of Appointment : |
06.01.1989 |
|
DIN No.: |
00244018 |
|
|
|
|
Name : |
Mr. Rajendra Khimraj Jain |
|
Designation : |
Director |
|
Address : |
2 Rita Park Society, Shahibaug, Ahmedabad – 380004,
Gujarat, India |
|
Date of Birth/Age : |
05.08.1965 |
|
Date of Appointment : |
06.01.1989 |
|
DIN No.: |
00243834 |
|
|
|
|
Name : |
Mrs. Sumitra Chandresh Lodha |
|
Designation : |
Director |
|
Address : |
15 Subhas Nagar Society, Shahibaug, Ahmedabad – 380004, Gujarat, India |
|
Date of Birth/Age : |
06.02.1962 |
|
Date of Appointment : |
01.09.1995 |
|
DIN No.: |
00244082 |
|
|
|
|
Name : |
Mr. Anil Khimraj Jain |
|
Designation : |
Director |
|
Address : |
2 Rita Park Society, Shahibaug, Ahmedabad – 380004,
Gujarat, India |
|
Date of Birth/Age : |
22.11.1969 |
|
Date of Appointment : |
11.10.2007 |
|
DIN No.: |
00243912 |
|
|
|
|
Name : |
Mr. Abhivandan Chandresh Lodha |
|
Designation : |
Director |
|
Address : |
15 Subhas Nagar Society, Shahibaug, Ahmedabad – 380004, Gujarat, India |
|
Date of Birth/Age : |
10.07.1983 |
|
Date of Appointment : |
30.09.2008 |
|
DIN No.: |
01820667 |
KEY EXECUTIVES
|
Name : |
Mr. Uday Narvekar |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Jain R.Abhishek |
|
60000 |
|
Jain K Anilkumar |
|
210200 |
|
Balar Khimraj |
|
259400 |
|
Jain K Rajendrakumar |
|
327200 |
|
Jain Bharti |
|
72600 |
|
Jain A. Ritu |
|
75300 |
|
Jain Neha |
|
81000 |
|
Lodha Ankit |
|
188500 |
|
Lodha Abhivandan |
|
256300 |
|
Lodha Sumitra |
|
132000 |
|
Lodha Premkanwar |
|
46000 |
|
Anilkumar Khimraj Jain |
|
100 |
|
Balar Khimrajj Anilkumar |
|
100 |
|
Balar Khimaj Rajendra |
|
100 |
|
Lodha Gumanmal |
|
500 |
|
Khimraj Ganeshmal |
|
132500 |
|
Jain Rahul |
|
22500 |
|
Rajendra Khimraj Jain |
|
100 |
|
Ritu Anil Jain |
|
500 |
|
Unnati Anil Jain |
|
500 |
|
Chandresh Finance Limited, India |
|
101000 |
|
Chandresh Marketing Private Limited, India |
|
40000 |
|
Balar Khimraj Anilkumar |
|
14000 |
|
Balar Khimraj Rajendra |
|
10000 |
As on: 05.03.2013
|
Name of Allottees |
|
No. of Shares |
|
Shri Abhishek
Jain Business |
|
69000 |
|
Shri Anilkumar
Jain |
|
221200 |
|
Shri Khimraj
Balar |
|
259400 |
|
Shri
Rajendrakumar Jain |
|
327300 |
|
Smt.Bharti Jain |
|
72600 |
|
Ms Ritu Jain |
|
75300 |
|
Smt.Neha Jain |
|
81000 |
|
Anilkumar Jain |
|
11100 |
|
Balar Khirnraj
Anilkumar |
|
21100 |
|
Balar Khimraj
Rajendrakumar |
|
25100 |
|
Khimraj
Ganeshrnal |
|
143500 |
|
Shri Rahul Jain |
|
22500 |
|
Rajendra Khimraj
Jain |
|
11100 |
|
Ms Unnati Anil
Jain |
|
500 |
|
Ganeshmal
Roopaji |
|
11000 |
|
Shri Anikit
Lodha |
|
199500 |
|
Shri Abhivandan
Lodha |
|
267300 |
|
SmtSumitra Lodha
|
|
143000 |
|
Smt.Premkanwar
Lodha |
|
46000 |
|
Gumanmal Lodha |
|
500 |
|
Baxiram Dhanraj |
|
1000 |
|
Chandresh
Finance Limited, India |
|
101000 |
|
Chandresh
Marketing Private Limited, India |
|
40000 |
|
|
|
|
|
Total |
|
2150000 |
As on: 13.02.2013
|
Name of Allottees |
|
No. of Shares |
|
|
|
|
|
Khimraj
Ganeshmal Balar |
|
11000 |
|
Balar Khimraj |
|
11000 |
|
Rajendra Khimraj
|
|
11000 |
|
Balar Khimraj
Rajendra Kumar |
|
11000 |
|
Ganeshmal
Roopaji |
|
11000 |
|
Anilkumer
Khimraj |
|
11000 |
|
Anilkumar
Khimraj |
|
11000 |
|
Abhishek
Rajendra Kumar |
|
9000 |
|
Abhivandan
Chandresh Lodha |
|
11000 |
|
Ankit Chandresh
Lodha |
|
11000 |
|
Mrs. Sumitra
Chadresh Lodha |
|
11000 |
|
|
|
|
|
Total |
|
119000 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2012
|
Category |
|
Percentage |
|
Bodies corporate |
|
7.00 |
|
Directors or relatives of directors |
|
93.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Cables and Wires. |
|
|
|
|
Exports : |
|
|
Products : |
·
Cables ·
Wires |
|
Countries : |
·
UAE ·
Kenya ·
Nigeria ·
Iran ·
South Africa ·
Uganda ·
Sudan |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
End Users · Gujarat State Electricity Corporation Limited · Jaipur Vidyut Vitran Nigam Limited · Chennai Port Trust · Baroda Municipal Corporation · Ahmedabad Municipal Corporation · Adani Wilmar Limited · Torrent Pharmaceuticals Limited · Hindustan Zinc Limited · Nirma Limited · Asian Paints Limited · Sanghi Industries Limited · Ultratech Cement · Metrochem Industries · Transformers and Rectifiers (India) Limited · Reliance Energy Limited · Electrotherm Limited · Videocon Industries Limited · McNally Sayaji · Inger-soll Rand India Limited · Arvind Mills Limited ·
Alok Industries Limited |
|||||||||||||||
|
|
|
|||||||||||||||
|
No. of Employees : |
250 (Approximately) |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
Dena Bank, Shahibaug Branch, Sanjay Society, Opposite Police Commissioner's Office, Ahmedabad - 380004, Gujarat, India |
|||||||||||||||
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|
|
|||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Mehta Lodha and Company Chartered Accountants |
|
Address : |
105 Sakar I, Ashram Road, Ahmedabad – 380009, Gujarat, India |
|
Tel. No.: |
91-79-26586683-85 |
|
Fax No.: |
91-79-26586684 |
|
PAN No.: |
AIQPS2509G |
|
|
|
|
Sister Concern : |
Name: Chandresh
Marketing Address: 413/C, Vasant
Wadi, 4th Floor, Room No.28, Kalabadevi Road, Mumbai – 400002, Maharashtra,
India Line of
Business: Manufacturer and Exporter of Cables and Wires. |
CAPITAL STRUCTURE
After: 30.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4500000 |
Equity Shares |
Rs.10/- each |
Rs.45.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4300000 |
Equity Shares |
Rs.10/- each |
Rs.43.000
Millions |
|
|
|
|
|
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
20.000 |
18.910 |
18.910 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
295.680 |
57.128 |
53.317 |
|
|
4] (Accumulated Losses) |
1.550 |
0.000 |
0.000 |
|
|
NETWORTH |
317.230 |
76.038 |
72.227 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
151.629 |
150.084 |
117.231 |
|
|
2] Unsecured Loans |
85.744 |
80.913 |
91.693 |
|
|
TOTAL BORROWING |
237.373 |
230.997 |
208.924 |
|
|
DEFERRED TAX LIABILITIES |
9.410 |
8.470 |
7.870 |
|
|
|
|
|
|
|
|
TOTAL |
564.013 |
315.505 |
289.021 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
308.027 |
66.780 |
66.589 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
99.100
|
78.774 |
51.240 |
|
|
Sundry Debtors |
226.531
|
164.777 |
160.479 |
|
|
Cash & Bank Balances |
6.673
|
46.134 |
36.783 |
|
|
Other Current Assets |
0.697
|
0.479 |
0.000 |
|
|
Loans & Advances |
8.387
|
12.072 |
11.061 |
|
Total
Current Assets |
341.388
|
302.236 |
259.563 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
77.706
|
43.939 |
|
|
|
Other Current Liabilities |
6.499
|
8.792 |
|
|
|
Provisions |
1.197
|
0.780 |
0.872 |
|
Total
Current Liabilities |
85.402
|
53.511 |
37.131 |
|
|
Net Current Assets |
255.986
|
248.725 |
222.432 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
564.013 |
315.505 |
289.021 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
873.398 |
722.429 |
589.521
|
|
|
|
Power Generation Income |
0.000 |
0.000 |
2.968 |
|
|
|
Other Income |
0.357 |
0.429 |
0.263 |
|
|
|
TOTAL |
873.755 |
722.858 |
592.752 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Raw Material Consumed |
731.845 |
626.565 |
|
|
|
|
Purchases of Trading Goods |
21.680 |
1.142 |
|
|
|
|
Changes in Inventories of Finished Goods and Work in Progress |
(13.389) |
(7.990) |
|
|
|
|
Employee benefit expenses |
12.399 |
10.314 |
|
|
|
|
Other expenses |
79.262 |
58.779 |
|
|
|
|
TOTAL |
831.797 |
688.810 |
559.740 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
41.958 |
34.048 |
33.012 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
29.089 |
23.352 |
18.221 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
12.869 |
10.696 |
14.791 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
5.875 |
4.083 |
3.033 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
6.994 |
6.613 |
11.758 |
|
|
|
|
|
|
|
|
|
Less |
PRIOR PERIOD
ITEM |
0.000 |
0.008 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
2.373 |
2.138 |
3.350 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
4.621 |
4.475 |
8.408 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
29.030 |
21.254 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Dividend |
NA |
NA |
0.540 |
|
|
|
Tax on Dividend |
NA |
NA |
0.092 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
NA |
29.030 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
1.023 |
NA |
|
|
TOTAL EARNINGS |
NA |
1.023 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.44 |
2.37 |
4.72 |
|
|
Particulars |
|
|
31.03.2013 |
|
Sales Turnover (Approximately) |
|
|
1000.000 |
|
|
|
|
|
Expected Sales (2013-2014): Rs.1200.000 Millions
The above information has been parted by Mr. Uday Narvekar
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.53 |
0.62 |
1.42 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.80 |
0.92 |
1.99 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.08 |
1.79 |
3.61 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02 |
0.09 |
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.75 |
3.04 |
2.89 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.00 |
5.65 |
6.99 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
(Rs.
in Millions)
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Sundry Creditors |
|
|
|
|
Others |
77.706
|
43.939 |
|
|
|
|
|
|
|
Total |
77.706
|
43.939 |
NA |
|
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 |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if applicable) |
Yes |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
UNSECURED LOAN
(Rs. In Millions)
|
Particular |
As on 31.03.2012 |
As on 31.03.2011 |
|
Deposit/ Loan from Related Parties
|
76.966 |
73.147 |
|
Deposit/ Loan from Others |
8.778 |
7.766 |
|
|
|
|
|
Total |
85.744 |
80.913 |
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.56.87 |
|
|
1 |
Rs.87.65 |
|
Euro |
1 |
Rs.74.52 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
36 |
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.