|
Report Date : |
11.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
SURENDRA ENGINEERING CORPORATION LIMITED |
|
|
|
|
Registered
Office : |
1, Jaitirath Mansion, 6-A, Barrack Road, Behind Metro Adlabs, Mumbai –
400020, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
08.09.2008 |
|
|
|
|
Com. Reg. No.: |
11-186567 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.100.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74210MH2008PLC186567 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS63159F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAMCS9067J |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company. |
|
|
|
|
Line of Business
: |
Manufacturing and Export of Engineering Goods, Machinery, Equipments,
Spares and Consumables. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 480000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a satisfactory track record.
There appears slight dip is its sales during 2012. However, performance capability is good. The company declares better
dividend to its shareholders every year. Trade relations are reported to be
fair. Business is active. Payments are reported to be usually correct and as
per commitments. The company can be considered for 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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
SE 2B |
|
Rating Explanation |
Performance capability is high and financial
strength is moderate. |
|
Date |
October, 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.
LOCATIONS
|
Registered/ Head Office : |
1, Jaitirath Mansion, 6-A, Barrack Road, Behind Metro Adlabs, Mumbai –
400020, Maharashtra, India |
|
Tel. No.: |
91-22-22002626 |
|
Fax No.: |
91-22-22000777 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1 (Chennai Unit) : |
Kartik
Steels Limited, 7, Nungambakkam High Road, Chennai – 600034, Tamilnadu, India |
|
Tel. No.: |
91-44-28271086 |
|
Fax No.: |
91-44-28221194 |
|
|
|
|
Factory 2 (Halol Unit) : |
Navyug
Ispat Udyog 909 G.I.D.C. Estate, Halol 389350. District
Panchmahal, Gujarat, India |
|
Tel. No.: |
91-2676-222640 |
|
Fax No.: |
91-2676-222921 |
|
|
|
|
Factory 3 (Waghodia Unit) : |
Navyug
Ispat Udyog Village
Khandiwada, Post
- ASJ. Taluka
- Waghodia. District
Baroda, Gujarat, India |
|
Tel. No.: |
91-26764-23161 |
|
|
|
|
Overseas Offices : |
Located at: ·
Sharjah, UAE ·
Jebel Ali, UAE ·
Nairobi, Kenya
·
Kampala,
Uganda ·
Central
Khartoum, Sudan · Addis Ababa, Ethiopia |
DIRECTORS
(AS ON 28.09.2012)
|
Name : |
Mr. Surendra Ratilal Parikh |
|
Designation : |
Chairman cum Managing Director |
|
Address : |
9, Cambridge Court, Peddar Road, Mumbai – 400026, Maharashtra, India |
|
Date of Birth/Age : |
28.08.1950 |
|
Date of Appointment : |
08.09.2008 |
|
DIN No.: |
00365725 |
|
|
|
|
Name : |
Mrs. Urvashi Surendra Parikh |
|
Designation : |
Whole-time Director |
|
Address : |
9, Cambridge Court, Peddar Road, Mumbai – 400026, Maharashtra, India |
|
Date of Birth/Age : |
21.03.1953 |
|
Date of Appointment : |
08.09.2008 |
|
DIN No.: |
00366027 |
|
|
|
|
Name : |
Mr. Nirav Surendra Parikh |
|
Designation : |
Director |
|
Address : |
9, Cambridge Court, Peddar Road, Mumbai – 400026, Maharashtra, India |
|
Date of Birth/Age : |
31.08.1979 |
|
Date of Appointment : |
08.09.2008 |
|
DIN No.: |
01119096 |
|
|
|
|
Name : |
Mr. Shivani Brijen Parikh |
|
Designation : |
Director |
|
Address : |
9, Cambridge Court, Peddar Road, Mumbai – 400026, Maharashtra, India |
|
Date of Birth/Age : |
13.01.1978 |
|
Date of Appointment : |
08.09.2008 |
|
DIN No.: |
00547752 |
|
|
|
|
Name : |
Mr. Samboor Vadakarai Raja Krishnan |
|
Designation : |
Director |
|
Address : |
Old No.16, New No.26, New Bangaru Colony, K. K. Nagar (West), Chennai
– 600078, Tamilnadu, India |
|
Date of Birth/Age : |
07.06.1943 |
|
Date of Appointment : |
01.01.2009 |
|
DIN No.: |
01261930 |
|
|
|
|
Name : |
Mr. Pankaj Kirtanlal Gandhi |
|
Designation : |
Director |
|
Address : |
Tirupati Apartment, Anand Building, 10th Floor, Flat
No.1003, Bhulabhai Desai Road, Mumbai – 400026, Maharashtra, India |
|
Date of Birth/Age : |
23.10.1948 |
|
Date of Appointment : |
01.01.2009 |
|
DIN No.: |
03259049 |
|
|
|
|
Name : |
Mr. Suryakant Ganeshlal Trivedi |
|
Designation : |
Director |
|
Address : |
A-9, Sunil Apartments, Kasturpark, Shimpoli Road, Borivali (west), Mumbai
– 400092, Maharashtra, India |
|
Date of Birth/Age : |
06.10.1938 |
|
Date of Appointment : |
01.01.2009 |
|
DIN No.: |
03263151 |
|
|
|
|
Name : |
Mr. Ami Nirav Parikh |
|
Designation : |
Additional Director |
|
Address : |
9, Cambridge Court, Peddar Road, Mumbai – 400026, Maharashtra, India |
|
Date of Birth/Age : |
24.11.1977 |
|
Date of Appointment : |
01.01.2013 |
|
DIN No.: |
06364209 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 28.09.2012)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Surendra Ratilal Parikh |
|
5000000 |
|
Urvashi Surendra Parikh |
|
4000000 |
|
Brijen Jitendra Parikh |
|
474000 |
|
Nirav Surendra Parikh |
|
474000 |
|
Shivani Brijen Parikh |
|
50000 |
|
Nagindas Lalchand Parikh |
|
1000 |
|
Ami Nirav Parikh |
|
1000 |
|
|
|
|
|
Total |
|
10000000 |
(AS ON 30.09.2012)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Export of Engineering Goods, Machinery, Equipments,
Spares and Consumables. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
· Union Bank of India Kalbadevi
Branch, A. M. V. Foundation Building, 32, Dadi Seth Agiary Lane, Kalbadevi Road,
Mumbai – 400002, Maharashtra, India |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
D. Kothary and Company Chartered Accountant |
|
Address : |
149, Behram Mehal, India |
|
PAN No.: |
AAAFD2013L |
CAPITAL STRUCTURE
(AS ON 28.09.2012)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000
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 |
|
100.000 |
100.000 |
|
(b) Reserves & Surplus |
|
20.061 |
13.162 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
|
|
|
|
|
(3)
Non-current liabilities |
|
|
|
|
(a) long-term borrowings |
|
290.141 |
163.999 |
|
(b) Deferred tax liabilities (Net) |
|
1.405 |
1.254 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
|
|
|
|
|
(4) Current
liabilities |
|
|
|
|
(a) Short term
borrowings |
|
0.000 |
0.000 |
|
(b) Trade
payables |
|
144.251 |
116.872 |
|
(c) Other current
liabilities |
|
188.596 |
204.378 |
|
(d) Short-term
provisions |
|
38.182 |
27.941 |
|
TOTAL |
|
782.636 |
627.606 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible
assets |
|
69.759 |
76.770 |
|
(ii) Intangible
Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
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 |
|
0.503 |
0.503 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Current
assets |
|
|
|
|
(a) Current
investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
53.502 |
53.607 |
|
(c) Trade
receivables |
|
190.552 |
167.807 |
|
(d) Cash and cash
equivalents |
|
49.050 |
32.617 |
|
(e) Short-term
loans and advances |
|
418.636 |
295.789 |
|
(f) Other current
assets |
|
0.634 |
0.513 |
|
|
|
|
|
|
TOTAL |
|
782.636 |
627.606 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
100.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
9.779 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
109.779 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
154.524 |
|
|
2] Unsecured Loans |
|
|
12.521 |
|
|
TOTAL BORROWING |
|
|
167.045 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.871 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
277.695 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
70.456 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
10.360 |
|
|
Sundry Debtors |
|
|
131.611 |
|
|
Cash & Bank Balances |
|
|
65.368 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
332.794 |
|
Total
Current Assets |
|
|
540.133 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
|
|
113.015 |
|
|
Other Current Liabilities |
|
|
195.509 |
|
|
Provisions |
|
|
25.054 |
|
Total
Current Liabilities |
|
|
333.578 |
|
|
Net Current Assets |
|
|
206.555 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.684 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
277.695 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue From Operations |
618.779 |
780.382 |
563.518 |
|
|
|
Other Income |
34.250 |
18.401 |
33.137 |
|
|
|
TOTAL (A) |
653.029 |
798.783 |
596.655 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
0.000 |
0.000 |
0.000 |
|
|
|
Purchases of stock-in-trade |
478.513 |
632.641 |
434.624 |
|
|
|
Changes in inventories of finished goods, work-in-progress and
stock-in-trade |
(0.106) |
(43.247) |
(10.099) |
|
|
|
Employee benefit expense |
19.206 |
22.933 |
20.243 |
|
|
|
Other expenses |
87.203 |
134.976 |
105.188 |
|
|
|
TOTAL (B) |
584.816 |
747.303 |
549.956 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
68.213 |
51.480 |
46.699 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
24.691 |
12.414 |
15.167 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
43.522 |
39.066 |
31.532 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
7.508 |
6.959 |
5.186 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
36.014 |
32.107 |
26.346 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
11.681 |
11.233 |
9.371 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
24.333 |
20.874 |
16.975 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.43 |
2.09 |
1.07 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
3.73
|
2.61 |
2.85 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.82
|
4.11 |
4.68 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.60
|
5.12 |
4.31 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.30
|
0.28 |
0.24 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.42
|
1.45 |
1.52 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.52
|
0.63 |
1.62 |
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 |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
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 |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
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 |
Yes |
UNSECURED LOANS
|
Particulars |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
|
|
Long Term
Borrowing |
|
|
|
Rupee term loans from others |
111.541 |
39.728 |
|
|
|
|
|
Total |
111.541 |
39.728 |
BUSINESS
OPERATIONS
During the year,
the Company’s turnover was Rs.653.029 Millions the Company took significant
steps towards achieving its vision of growth and excellence.
FORM 8
|
This form is for |
Creation of
charge |
|
Corporate identity
number of the company |
U74210MH2008PLC186567 |
|
Name of the
company |
SURENDRA
ENGINEERING CORPORATION LIMITED |
|
Address of the
registered office or of the principal place of business in |
1, Jaitirath Mansion,
6-A, Barrack Road, Behind Metro Adlabs, MUMBAI – 400020, Maharashtra, India |
|
Type of charge |
Movable property (not being pledge) |
|
Particular of
charge holder |
Union Bank of
India Kalbadevi Branch,
A. M. V. Foundation Building, 32, Dadi Seth Agiary Lane, Kalbadevi Road,
Mumbai – 400002, Maharashtra, India |
|
Nature of description
of the instrument creating or modifying the charge |
Packing Credit
Agreement (SD-04) |
|
Date of
instrument Creating the charge |
26/03/2013 |
|
Amount secured by
the charge |
Rs.20.000
Millions |
|
Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Rate of Interest Interest : Usual Terms of
Repayment On Demand Margin Margin: 25%. Extent and
Operation of the charge To Secure an
ADHOC Packing Credit Limit of Rs.20.000 Millions granted by the bank to the
company. Others NIL |
|
Short particulars
of the property charged |
The borrower
hypothecates by way of first charge in favour of the bank all movable
properties meant or intended for export of goods such as sugar mill
machinery, hardware, spares , pvc films, electrical items, etc. and/or any
other goods meant, intended or being manufactured for export both present and
future lying / stored at the borrower's main factory shed or Godowns at
Dronagiri, Ahmednagar, Vasai
(East), Kolhapur or at shed / godowns hired by the borrower for storage
wherever situate and / or in transit. |
FIXED ASSETS:
·
Land
·
Building
·
Office Building
·
Furniture and Fixtures
·
Vehicles
·
Motor Vehicles
·
Office Equipment
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.57.78 |
|
|
1 |
Rs.89.71 |
|
Euro |
1 |
Rs.76.24 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
42 |
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.