MIRA INFORM REPORT
|
Report Date : |
12.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
JYOTI CNC AUTOMATION LIMITED (w.e.f. 30.11.2012) |
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Formerly Known
As : |
JYOTI CNC AUTOMATION PRIVATE LIMITED (w.e.f. 28.04.2008) JYOTI CNC AUTOMATIONS PRIVATE LIMITED AMB ENGINEERING COMPANY PRIVATE LIMITED |
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Registered
Office : |
G-506, Lodhika, G.I.D.C. Estate, Village Metoda, Rajkot – 360 021, Gujarat |
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Country : |
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Financials (as
on) : |
31.03.2012 (Profit & Loss A/c) |
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Date of
Incorporation : |
17.01.1991 |
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Com. Reg. No.: |
04-014914 |
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Capital
Investment / Paid-up Capital : |
Rs.111.468
Millions |
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CIN No.: [Company Identification
No.] |
U29221GJ1991PLC014914 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
RKTJ00293G |
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PAN No.: [Permanent Account No.] |
AABCJ1947R |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject is principally engaged in the business of manufacturing of CNC
Machines. |
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No. of Employees
: |
Information declined by the Management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 4647000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. The Balance Sheet as on 2012 is not made available to us. As per Profit and loss statement as on 2012, the company has shown a
decent performance. Capital base of the company is weak which affects the
financial position. However, trade relations are fair. Business is active. Payments are
reported as slow but correct. In view of experienced promoters 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 |
CRISIL |
|
Rating |
Long Term Rating: BB |
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Rating Explanation |
Moderate risk of default. |
|
Date |
July 18, 2012 |
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Rating Agency Name |
CRISIL |
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Rating |
Short Term Rating: A4+ |
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Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
July 18, 2012 |
RBI DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ 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 DECLINED
Management Non-cooperative
(Contact No.: 91-2827-287081)
LOCATIONS
|
Registered Office/ Factory 1 : |
G-506, Lodhika, G.I.D.C. Estate, Village Metoda, Rajkot – 360 021, Gujarat, India |
|
Tel. No.: |
91-2827-287081/
287082/ 287412/ 287052/ 287212/ 287812 |
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Fax No.: |
91-2827-287480 |
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E-Mail : |
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Website : |
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Area : |
5000 sq. ft. |
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Location : |
Leased |
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Factory 2 : |
2839, Lodhika, G.I.D.C., Metoda, Rajkot – 360 021, Gujarat, India |
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Administrative Office : |
Dr. V.S. Road, Gondal Road, Rajkot – 360 004, Gujarat,
India |
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Tel. No.: |
91-281-2386331/ 2372039 |
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Fax No.: |
91-281-2367625 |
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E-Mail : |
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Website : |
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Area : |
70778 sq. mt. |
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Location : |
Leased |
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Branch Office : |
M-62, 11th Cross, Brindhavan Nagar, TNHB, 7th
Phase, Hosur – 635 109, India |
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E-Mail : |
DIRECTORS
As on 17.09.2012
|
Name : |
Mr. Parakramsinh Ghanshyamsinh Jadeja |
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Designation : |
Managing
Director |
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Address : |
“Osho”,
2, Shivaji Park, Near Airport, Rajkot – 360 001, Gujarat, India |
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Date of Birth/Age : |
21.10.1968 |
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Date of Appointment : |
17.09.2012 |
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DIN No.: |
00125050 |
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Name : |
Mr.
Vikramsinh Raghuvirsinh Rana |
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Designation : |
Director |
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Address : |
"Shiv Shakti", 3, Naval Nagar, Near Swaminarayan, Rajkot –
360 004, Gujarat, India |
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Date of Birth/Age : |
19.01.1970 |
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Date of Appointment : |
17.09.2012
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DIN No.: |
00125079 |
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Name : |
Mr.
Sahadevsing Lalubha Jadeja |
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Designation : |
Whole Time
Director |
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Address : |
Shreenil,
Plot No.70, Silver Stone Main Road, Near Oscar Tower, Rajkot – 360 004,
Gujarat, India |
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Date of Birth/Age : |
22.07.1965 |
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Date of Appointment : |
17.09.2012
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DIN No.: |
00126392 |
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Name : |
Mr.
Mansingh Laxmidas Bhakta |
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Designation : |
Non-Executive
Director |
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Address : |
4, Sagar
Villa, 38, B. Desai Road, Mumbai – 400 026, Maharashtra, India |
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Date of Birth/Age : |
03.12.1931
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Date of Appointment : |
17.09.2012 |
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DIN No.: |
00001963 |
KEY EXECUTIVES
|
Name : |
Mr. Maulik Bharatkumar Gandhi |
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Designation : |
Secretary |
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Address : |
“Modheshwari Krupa”, Panchvaty Park – 174, Near Panchvaty Hall, Rajkot
– 360 001, Gujarat, India |
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Date of Birth/Age : |
21.10.1984 |
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Date of Appointment : |
17.09.2012 |
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PAN No.: |
AJJPG9997J |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 17.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Parakramsinh Ghanshyamsinh Jadeja |
|
3071850 |
|
Vikramsinh Raghuvirsinh Rana |
|
357850 |
|
Rajshreeba Parakramsinh Jadeja |
|
287490 |
|
Jyotiba Sahadevsinh Jadeja |
|
22490 |
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Bhavesh Lalubha Jadeja |
|
98750 |
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Daxaba Vikramsinh Rana |
|
96900 |
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Ghanshyamsinh Narubha Jadeja |
|
213900 |
|
Ramnikba Ghanshyamsinh Jadeja |
|
53250 |
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Darshan Jagdishbhai Chauhan |
|
5000 |
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Kaushik Daulatbhai Solanki |
|
21620 |
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Ushaben Kaushikbhai Solanki |
|
96650 |
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Sahadevsinh Lalubha Jadeja |
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464250 |
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Shyamalram Shekharan |
|
140000 |
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Jagdishbhai Lalubha Jadeja |
|
63850 |
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Lalubha Hembha Jadeja |
|
181800 |
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Kishor Bhikhabhai Virani |
|
2095060 |
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Anil Bhikhabhai Virani |
|
1606315 |
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Vijay Pravinsinh Zala |
|
101950 |
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Bindya Chaitanya Solanki |
|
8000 |
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Chaitanya Solanki |
|
11200 |
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Smit Rameshbhai Virani, Hong Kong |
|
3004000 |
|
Jyoti International Private Limited, India |
|
1592000 |
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Sangeeta P. Rathod |
|
1 |
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Babita P. Rathod |
|
1 |
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Mahendra Fulchand |
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1 |
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Basant Fulchand |
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1 |
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Subhash Fulchand |
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1 |
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Regal Computer System Private Limited |
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1 |
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Sameer Nandilal Shah |
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1 |
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Popatlal Fulchand |
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1 |
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Kamal Flats and Refoils Private Limited |
|
79200 |
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Aalekh Corproate Consultant Private Limited, India |
|
16000 |
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Cyber Info Vision Private Limited, India |
|
24000 |
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Karnavati Consultant Private Limited, India |
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24400 |
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Vaishaki Advisory Private Limited |
|
4000 |
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Vaishaki Corporate Cosultancy Private Limited |
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4800 |
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Chaitanya K. Solanki – HUF |
|
8000 |
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Total |
|
13754583 |
As on 16.02.2013
|
Names of Allottee |
|
No. of Shares |
|
Jyoti International Private Limited, India |
|
714450 |
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Total |
|
714450 |
As on 31.12.2012
|
Names of Allottee |
|
No. of Shares |
|
Jyoti International Private Limited, India |
|
69750 |
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Total |
|
69750 |
As on 17.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
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Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
21.84 |
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Bodies
corporate |
|
12.68 |
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Directors
or relatives of directors |
|
35.72 |
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Other
top fifty shareholders |
|
29.76 |
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Total |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Subject is principally engaged in the business of manufacturing of CNC
Machines. |
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Products : |
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PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Installed
Capacity (No.
of Machines) |
Actual
Production (No.
of Machines) |
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CNC Machines |
1500 |
1566 |
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Particulars |
Actual
Production (Nos.)
|
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CNC Turning Centre |
941 |
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SPM Machine |
200 |
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HMC Machine |
10 |
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VMC Machine |
415 |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
Information declined by the Management |
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Bankers : |
·
Corporation Bank, Main Branch, Nijanand, Dhaber Road, Rjakot – 360 001, Gujarat, India ·
Bank of Baroda, Corporate Financial Service
Branch, 1st Floor, Bank of Baroda Tower, Ellisbridge, Ahmedabad –
380 006, Gujarat, India ·
HDFC Bank Limited, Venkatesh Plaza, Dr. Radhakrishna Road, Opposite Kathiawar Gymkhana,
Rajkot – 360 001, Gujarat, India ·
Bank of India, Para Bazar, M G Road, Rajkot – 360 001, Gujarat, India ·
State Bank of India, Commercial Branch, Nobel House, Kalawad
Road, Rajkot – 360 001, Gujarat, India ·
Rajkot Commercial Cooperative Bank Limited ·
Bank of Saurashtra ·
IDBI Bank Limited, Rajkot Branch |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Kalaria and Sampat Chartered Accountants |
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Address : |
311, Orbit, Moti Tanki, Rajkot – 360 001, Gujarat, India |
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PAN No.: |
AACFK2045F |
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Wholly Owned
Subsidiary (As on 31.03.2011) : |
Jyoti SAS (France) |
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Wholly owned Subsidiary
of Jyoti SAS (France) (As on 31.03.2011) : |
Huron Graffenstaden SAS (France) |
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Wholly owned
Subsidiary of Huron Graffenstaden SAS, France (As on 31.03.2011) : |
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Management
Control of Huron Graffenstaden SAS, France (As on 31.03.2011) : |
Rolo and Huron, Portugal |
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Associate
Company (As on 31.03.2011) : |
Jyoti International Private Limited |
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Associate Firm
(As on 31.03.2011) : |
Jyoti Enterprise |
CAPITAL STRUCTURE
After 17.09.2012
Authorised Capital : Rs.470.000 millions
Paid-up Capital : Rs.286.794 millions
As on 17.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
45000000 |
Equity Shares |
Rs.10/- each |
Rs.450.000 Millions |
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|
|
|
|
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
13947583 |
Equity Shares |
Rs.10/- each |
Rs.139.476
Millions |
|
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|
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Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
13754583 |
Equity Shares |
Rs.10/- each |
Rs.137.546
Millions |
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As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
12000000 |
Equity Shares |
Rs.10/- each |
Rs.120.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
11146808 |
Equity Shares |
Rs.10/- each |
Rs.111.468
Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
111.468 |
111.468 |
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|
2] Share Application Money Pending Allotment |
|
128.300 |
129.500 |
|
|
3] Reserves & Surplus |
|
921.895 |
764.695 |
|
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4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
1161.663 |
1005.663 |
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|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
1673.719 |
1385.422 |
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2] Unsecured Loans |
|
202.717 |
218.480 |
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TOTAL BORROWING |
|
1876.436 |
1603.902 |
|
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DEFERRED TAX LIABILITIES |
|
139.686 |
94.362 |
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|
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TOTAL |
|
3177.785 |
2703.927 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
|
1706.202 |
1577.477 |
|
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Capital work-in-progress |
|
0.000 |
38.598 |
|
|
|
|
|
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INVESTMENT |
|
288.291 |
2.059 |
|
|
DEFERRED TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
1743.317
|
1254.034
|
|
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Sundry Debtors |
|
500.614
|
323.300
|
|
|
Cash & Bank Balances |
|
74.302
|
75.481
|
|
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Other Current Assets |
|
0.000
|
0.462 |
|
|
Loans & Advances |
|
413.944
|
468.532
|
|
Total
Current Assets |
|
2732.177
|
2121.809 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
1132.427
|
844.830
|
|
|
Other Current Liabilities |
|
341.456
|
166.282
|
|
|
Provisions |
|
75.002
|
25.082
|
|
Total
Current Liabilities |
|
1548.885
|
1036.194 |
|
|
Net Current Assets |
|
1183.292
|
1085.615
|
|
|
|
|
|
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MISCELLANEOUS EXPENSES |
|
0.000 |
0.178 |
|
|
|
|
|
|
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TOTAL |
|
3177.785 |
2703.927 |
|
Note: Balance Sheet for the year 2012 is not available only Profit & Loss
A/c is available.
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
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|
SALES |
|
|
|
|
|
|
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Revenue from operations |
4126.947 |
3021.680 |
1543.174 |
|
|
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Other Income |
32.198 |
12.368 |
74.905 |
|
|
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TOTAL (A) |
4159.145 |
3034.048 |
1618.079 |
|
|
|
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|
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Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
2511.555 |
1965.305 |
1303.173 |
|
|
|
Changes in
inventories of finished goods, work-in-progress and stock-in-trade |
(54.220) |
(266.425) |
|
|
|
|
Employee benefit expense |
215.588 |
174.328 |
|
|
|
|
Other expenses |
658.842 |
602.811 |
|
|
|
|
TOTAL (B) |
3331.765 |
2476.019 |
1303.173 |
|
|
|
|
|
|
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|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
827.380 |
558.029 |
314.906 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
304.330 |
228.972 |
185.278 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
523.050 |
329.057 |
129.628 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
134.792 |
118.702 |
108.234 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
388.258 |
210.355 |
21.394 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
106.379 |
53.155 |
8.375 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
281.879 |
157.200 |
13.019 |
|
|
|
|
|
|
|
|
|
Add |
Excess
/ (Short) Provision of Previous Year |
NA |
NA |
0.043 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
NA |
13.062 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export at FOB Value Earnings |
NA |
176.125 |
281.552 |
|
|
TOTAL EARNINGS |
NA |
176.125 |
281.552 |
|
|
|
|
|
|
|
|
|
|
VALUE OF IMPORTS
ON CIF BASIS |
NA |
799.981 |
475.503 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
25.29 |
14.10 |
1.17 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
6.78 |
5.18
|
0.80
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
9.41 |
6.96
|
1.39
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA |
4.74
|
0.58
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA |
0.18
|
0.02
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
NA |
1.62
|
1.59
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
NA |
1.76
|
2.05
|
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
|
|
|
|
|
- Creditors due small micro enterprises |
NA |
0.000 |
0.000 |
|
- Creditors due others |
NA |
1132.427 |
844.830 |
|
Total |
NA |
1132.427 |
844.830 |
|
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 |
Yes |
|
17) Major suppliers |
No |
|
18) Major customers |
Yes |
|
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 |
No |
|
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 |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
|
|
Working capital loans others unsecured |
202.717 |
218.480 |
|
Total
|
202.717 |
218.480 |
Bankers Charges
Report as per Registry
|
Corporate identity number of the company |
U29221GJ1991PTC014914 |
|
Name of the company |
JYOTI CNC AUTOMATION PRIVATE LIMITED |
|
Address of the registered office or of the principal place of business in India of the company |
G-506, Lodhika, G.I.D.C. Estate, Village Metoda, Rajkot – 360 021,
Gujarat, India E-Mail: info@jyoti.co.in |
|
This form is for |
Creation of charge |
|
Type of charge |
Book Debts Movable Property (not being pledge) Floating Charge Others (Stocks) |
|
Particular of charge holder |
Bank of Baroda, Corporate Financial Service Branch, 1st
Floor, Bank of Baroda Tower, Ellisbridge, Ahmedabad – 380 006, Gujarat, India
E-Mail: corahm@bankofbaroda.com |
|
Nature of description of the instrument creating or modifying the
charge |
Composite hypothecation agreement for ADHOC credit facility of
Rs.35.000 millions for 90 days |
|
Date of instrument Creating the charge |
07.03.2013 |
|
Amount secured by the charge |
Rs.35.000 millions |
|
Brief particulars of the principal terms and conditions and extent and
operation of the charge |
Rate of Interest: 16.75% Terms of Repayment: 90 days (ADHOC Credit Facility) Margin: 25% Extent and Operation of the charge: The Charge created hereby shall extend to recover all amount
outstanding due to the bank under this facilities to the company. |
FIXED ASSETS:
· Land
· Building
· Plant and Machinery
· Electric Fittings
· Dies and Tools
· Electrical Installations
· Office Equipments
· Computers
· Vehicles
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.58.93 |
|
|
1 |
Rs.91.80 |
|
Euro |
1 |
Rs.78.18 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
32 |
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.