MIRA INFORM REPORT
|
Report Date : |
14.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
MIKI STEEL WORKS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
No.21, C and D, KIADB, Industrial Area, Attibele Anekal Taluk,
Bangalore – 560034, Karnataka |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
17.01.1991 |
|
|
|
|
Com. Reg. No.: |
08-011583 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.3.414 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27109KA1991PTC011583 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRM01265F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of High Carbon Steel Wires. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 370000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a satisfactory track record.
There appears drastic fall in sales and profitability during 2012. However, general financials position is good. Trade relations are
reported to be fair. Business is active. Payments are reported to be usually
correct 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.
LOCATIONS
|
Registered Office/ Factory : |
No.21, C and D, KIADB, Industrial Area, Attibele Anekal Taluk,
Bangalore – 560034, Karnataka, India |
|
Tel. No.: |
91-8110-325737/ 650831/ 650832 |
|
Fax No.:` |
91-80-27820954 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
10000 Sq. ft |
|
Location : |
Owned |
DIRECTORS
As on: 28.09.2012
|
Name : |
Mr. Mahesh Poddar |
|
Designation : |
Managing Director |
|
Address : |
J S Lane, Gandhi Chowk,
Upper Bazar, Ranchi – 834001, Jharkhand, India |
|
Date of Birth/Age : |
14.11.1949 |
|
Date of Appointment : |
17.02.1991 |
|
Voter ID No.: |
GHF8898967 |
|
DIN No.: |
00098071 |
|
|
|
|
Name : |
Mrs. Nirmala Poddar |
|
Designation : |
Director |
|
Address : |
J S Lane, Gandhi
Chowk, Upper Bazar, Ranchi – 834001, Jharkhand, India |
|
Date of Birth/Age : |
15.07.1953 |
|
Date of Appointment : |
17.01.1991 |
|
DIN No.: |
00370769 |
|
|
|
|
Name : |
Mrinmoy Sarkar |
|
Designation : |
Director |
|
Address : |
Flat No. S3, Jayanthi Resl, Vishakhapatnam, Andhra Pradesh, India |
|
Date of Birth/Age : |
18.11.1954 |
|
Date of Appointment : |
04.01.2005 |
|
DIN No.: |
00710532 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 28.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Mahesh Poddar |
|
15550 |
|
Nirmala Poddar |
|
8650 |
|
Shilpi Poddar |
|
1840 |
|
Pawan Kumar Pacheriwala |
|
1000 |
|
Mahesh Kumar Balotia HUF |
|
1070 |
|
Mohini Devi Balotia |
|
1840 |
|
Mukesh Kumar Balotia |
|
10 |
|
Malvika Poddar |
|
4130 |
|
N.K. Somani |
|
50 |
|
|
|
|
|
Total |
|
34140 |
Equity Share Break up (Percentage of Total Equity)
As on: 28.09.2012
|
Category |
|
Percentage |
|
Directors or relatives of directors |
|
88.00 |
|
Others |
|
12.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of High Carbon Steel Wires. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
R.K. Tantry and Company Chartered Accountants |
|
Address : |
379,3rd Main, 7th Cross, CKM Layout, BSK 3rd Stage And Phase,
Bangalore – 560085, Karnataka |
|
PAN No.: |
AAAFR8816P |
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
60000 |
Equity Shares |
Rs.100/- each |
Rs.6.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
34140 |
Equity Shares |
Rs.100/- each |
Rs.3.414 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 |
|
3.414 |
3.414 |
|
(b) Reserves & Surplus |
|
90.530 |
86.968 |
|
(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 |
|
15.367 |
36.205 |
|
(b) Deferred tax liabilities (Net) |
|
0.809 |
0.803 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
|
|
|
|
|
(4) Current liabilities |
|
|
|
|
(a) Short term
borrowings |
|
68.461 |
69.340 |
|
(b) Trade payables |
|
83.799 |
19.603 |
|
(c) Other current
liabilities |
|
0.167 |
0.353 |
|
(d) Short-term
provisions |
|
3.201 |
3.927 |
|
TOTAL |
|
265.748 |
220.613 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
75.962 |
33.239 |
|
(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 |
|
3.099 |
2.816 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
63.259 |
45.582 |
|
(c) Trade receivables |
|
64.417 |
87.869 |
|
(d) Cash and cash
equivalents |
|
35.552 |
38.694 |
|
(e) Short-term loans
and advances |
|
23.234 |
12.331 |
|
(f) Other current
assets |
|
0.225 |
0.082 |
|
TOTAL |
|
265.748 |
220.613 |
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
3.414 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
63.970 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
67.384 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
52.402 |
|
|
2] Unsecured Loans |
|
|
9.784 |
|
|
TOTAL BORROWING |
|
|
62.186 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.771 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
130.341 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
29.444 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
59.355
|
|
|
Sundry Debtors |
|
|
54.576
|
|
|
Cash & Bank Balances |
|
|
9.558
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
15.640
|
|
Total
Current Assets |
|
|
139.129
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
32.349
|
|
|
Other Current Liabilities |
|
|
3.990
|
|
|
Provisions |
|
|
1.893
|
|
Total
Current Liabilities |
|
|
38.232
|
|
|
Net Current Assets |
|
|
100.897
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
130.341 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
572.413 |
728.661 |
625.868 |
|
|
|
Other Income |
1.028 |
2.309 |
1.665 |
|
|
|
TOTAL (A) |
573.441 |
730.970 |
627.533 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Material Consumed
|
|
554.016 |
486.590 |
|
|
|
Excise Duty |
|
67.249 |
46.412 |
|
|
|
Manufacturing Expenses |
|
37.119 |
36.271 |
|
|
|
Employment Cost |
|
12.877 |
11.969 |
|
|
|
Director Remuneration Allowance |
|
3.196 |
3.202 |
|
|
|
Administrative and Other Expenses |
|
6.802 |
5.316 |
|
|
|
Selling Expenses |
|
0.734 |
0.778 |
|
|
|
Increase/ (Decrease) In Stock |
|
0.766 |
(10.678) |
|
|
|
TOTAL (B) |
560.100
(Including Financial Expenses) |
682.759 |
579.860 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
48.211 |
47.673 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
6.927 |
6.018 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
13.341 |
41.284 |
41.655 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
8.265 |
6.615 |
5.092 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
5.076 |
34.669 |
36.563 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.514 |
11.671 |
12.777 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
3.652 |
22.998 |
23.786 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
82.502 |
59.504 |
35.718 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
86.154 |
82.502 |
59.504 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
8.530 |
8.390 |
5.023 |
|
|
TOTAL EARNINGS |
8.530 |
8.390 |
5.023 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
106.97 |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.64 |
3.15 |
3.79 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.89 |
4.76 |
5.84 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.91 |
15.71 |
21.69 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05 |
0.38 |
0.54 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.89 |
1.17 |
0.92 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.20 |
1.98 |
3.64 |
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 |
Yes |
|
34] |
External Agency Rating, if available |
No |
OPERATION:
During the year the company has achieved turnover of Rs.572.413 Millions as against Rs. 728.661 Millions in the previous year lower by 21.44%. The Company has achieved profit before tax of Rs.5.076 Millions as against Rs. 346.69 in the previous year lower by 85.36% and profit after tax of Rs.3.562 Millions as against Rs.22.998 Millions in the previous year, lower by 84.51%.
During the year the Company has consumed 11296.080 MTS. Raw Material (Previous year 15660.490 MTS.) producing 11226.413 MTS. (Previous year 15547.043 MTS.) of finished wire products having a yield of 99.38% (Previous year 99.27%).
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U27109KA1991PTC011583 |
|
Name of the
company |
MIKI STEEL WORKS
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Plot No.21D, KIADB, Industrial Area, Attibele Anekal Taluk, Bangalore
– 560034, Karnataka, India Email: blr@mikisteel.co.in |
|
This form is for |
Modification of charge |
|
Charge
identification (ID) number of the charge to be modified |
10271629 |
|
Type of charge |
·
Immovable
property ·
Any interest in
immovable property ·
Book debts ·
Movable
property (not being pledge) ·
Floating charge ·
All Other
Current Assets of Co Present and Future |
|
Particular of
charge holder |
CIN:
L65110GJ1993PLC020769 Axis Bank Limited, Ranchi Branch, MCMC Ranchi Centre, Main Road, Near Albert Ekka Chowk, H B Road, Ranchi - 834001, Jharkhand, India |
|
Nature of
instrument creating charge |
Composite Hypothecation
Deed (Current Assets, Movables, Plant and Machinery), Memorandum of Entry (
Extension of Equitable Mortgage ) |
|
Date of
instrument Creating the charge |
16.04.2013 |
|
Amount secured by
the charge |
Rs.218.500
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest CC-Rs.100.000
Millions: Base Rate + 2.75%, BC, LC/FLC, Capex LC/BC- Commission 50% of
Standard Rate, BG- Commission 75% of Standard Rate, LER/ler (sublimit of TL)
- Commission Standard Rate. TL-Base Rate + 2.75% Terms of
Repayment CC- Rs.100.000
Millions: Repayable on Demand, Buyers
Credit - Rs.50.000 Millions (Sub Limit of CC) - 180 days, LC/FLC- Rs.70.000
Millions - 90/180, BG- Rs.5.000 Millions (Sublimit of LC/FLC) - Maximum 3
Yrs, LER- Rs.10.000 Millions (Rs.6.500 Millions as sublimit of CC) - As per
Contract. LER- Rs.125.000 Millions (sublimit of TL) - As per Conyract. TL -
Repayable as per existing schedule, Capex LC/BC (Sublimit of TL) - Repayable
as per existing schedule Margin CC- Rs.100.000
Millions: 25%on Stocks and Book Debts
upto 90 days, Buyers Credit - Rs.50.000 Millions (Sub Limit of CC) - 10% in
the form of Fixed Deposit, LC/FLC- Rs.70.000 Millions - 10% Cash Margin, BG-
Rs.5.000 Millions (Sublimit of LC/FLC) - 10% Cash Margin, LER- Rs.10.000
Millions (Rs.6.500 Millions as sublimit of CC) - Nil. LER- Rs.125.000
Millions (sublimit of TL) - Nil. TL - 25% of the Project Cost, Capex LC/BC
(Sublimit of TL) - Nil. Extent and
Operation of the charge All tangible
movable machinery, plant machinery, fixtures, fittings other installation,
cranes, furniture, computers and other accessories and all other articles
lying on the premises or the godown of the borrower or in the custody of any
other person who are the mercantile agents of the borrower or in the course
of transit. The whole of the borrower's movable goods and assets both present
and future. All the present and future book debts, o/s monies, receive claim
bills, contracts, engagements and securities Others All limits (fund
based and non fund based) interchangeable between each other except Term Loan
and Capex LC/BC. Thereby following limits i.e. CC, BC, LC/FLC, BG can go upto
maximum of Rs.170.000 Millions. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
All tangible
movable mach., plt machinery, fixtures, fittings other installation, cranes,
furniture, computer and other accessories and all other articles lying on premises
or godown of the borrower. The whole of the
borrower's movable goods and assets both present and future. All the present
and future book debts, o/s monies, receive claim bills, contracts,
engagements and securities which are now due and owing or which may at any
time hereinafter become due. All that piece
and parcel of plot no- 21 d and c of attibele industrial area within the
limits Of Ichhangur Village - Attibele, Hobli Anekal, Taluk, Banagalore Rural
District now within the jurisdictional limit of naralur grama panchayath
measuring 3887 sq mtrs. |
|
Particulars of
the present modification |
By this
modification the overall limit modified to Rs.218.500 Millions. By this
modification the other earlier securities created in favour of Axis Bank Limited
will remains with the Axis Bank Limited. |
FIXED ASSETS
- Free Hold Land
- Factory/ Office Buildings
- Factory Buildings (Unit-II)
- Plant and Machinery
- Plant and Machinery (Unit-II)
- Vehicles
- Furniture and Fitting
- Office Equipment
- Computer
- Energy Saving Device
- Energy Saving Device (Unit-II)
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.58.41 |
|
|
1 |
Rs.91.62 |
|
Euro |
1 |
Rs.78.12 |
INFORMATION DETAILS
|
Report Prepared
by : |
VRN |
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 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
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 |
|
43 |
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.