MIRA
INFORM REPORT
|
Report Date : |
01.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
CARBON EDGE INDUSTRIES LIMITED (w.e.f. 18.10.2010) |
|
|
|
|
Formerly Known
As : |
RAKESH MARUTI LIMITED |
|
|
|
|
Registered
Office : |
1st Floor, Room No.1-A, 238 A, A. J. C. Bose Road, Kolkata
– 700020, West Bengal |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
18.11.1983 |
|
|
|
|
Com. Reg. No.: |
21-036934 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.33.357
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U21015WB1983PLC036934 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCR2042K |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Low-Ash
Metallurgical Coke and Coal Tar (a by-product) |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (38) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1500000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but clear |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. The external borrowings of the company appear to be increasing over
years which act as a threat to its liquidity. There appears tremendous dip in the profitability of the company
during 2012. However, trade relations are fair. Business is active. Payment terms
are 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.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis - in large part because of strong domestic demand - and growth
exceeded 8% year-on-year in real terms. However, India's economic growth in
2011 slowed because of persistently high inflation and interest rates and
little progress on economic reforms. High international crude prices have
exacerbated the government's fuel subsidy expenditures contributing to a higher
fiscal deficit, and a worsening current account deficit. Little economic reform
took place in 2011 largely due to corruption scandals that have slowed legislative
work. India's medium-term growth outlook is positive due to a young population
and corresponding low dependency ratio, healthy savings and investment rates,
and increasing integration into the global economy. India has many long-term
challenges that it has not yet fully addressed, including widespread poverty,
inadequate physical and social infrastructure, limited non-agricultural
employment opportunities, scarce access to quality basic and higher education,
and accommodating rural-to-urban migration.
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating: BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
13.02.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating: A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
13.02.2013 |
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 : |
1st Floor, Room No.1-A, 238 A, A. J. C. Bose Road, Kolkata
– 700020, West Bengal, India |
|
Tel. No.: |
91-33-22826370/ 22155537 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Gujarat Office : |
77-78, Navratan Residency, Near Holiday Village Resort, Survey No. -
110, Anjar - Galpadar Road, Meghpar Borichi, Anjar, Kutch – 370110, Gujarat,
India. |
|
|
|
|
Factory : |
Survey No. 170, Village Road Vavar, Village-Chhasara, Tal- Mundra, Kutch-370 410, Gujarat, India |
|
Tel No.: |
91-2838-226758 |
DIRECTORS
(AS ON 29.09.2012)
|
Name : |
Mr. Ankur Khanna |
|
Designation : |
Director |
|
Address : |
Luby Circular Road, Dhanbad, Jharkhand, India |
|
Date of Birth/Age : |
19.08.1978 |
|
Date of Appointment : |
01.10.2001 |
|
DIN No.: |
01139055 |
|
|
|
|
Name : |
Mr. Anurag Khanna |
|
Designation : |
Director |
|
Address : |
Luby Circular Road, Dhanbad, Jharkhand, India |
|
Date of Birth/Age : |
10.12.1975 |
|
Date of Appointment : |
01.04.1994 |
|
DIN No.: |
01139048 |
|
PAN No.: |
AFYPK7153B |
|
|
|
|
Name : |
Mr. Vijay Khanna |
|
Designation : |
Director |
|
Address : |
Luby Circular Road, Dhanbad, Jharkhand, India |
|
Date of Birth/Age : |
08.10.1940 |
|
Date of Appointment : |
01.04.2004 |
|
DIN No.: |
01139020 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 29.09.2012)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Kokila Khanna |
|
517600 |
|
Prema Khanna |
|
15000 |
|
Subhash Aneja |
|
26500 |
|
Anjani Sinha |
|
19500 |
|
Rohit Sachdeva |
|
17500 |
|
Sidhrtha Sachdeva |
|
18000 |
|
Rashmi Sachdeva |
|
9000 |
|
Ramesh Sachdeva |
|
19700 |
|
Sarda Sachdeva |
|
40000 |
|
Vijay Khanna |
|
944000 |
|
Ajay Khanna |
|
7500 |
|
Anurag Khanna |
|
608500 |
|
Kinetic Securities Limited, India |
|
10200 |
|
Others Khanna and Vijay |
|
52400 |
|
Admit Deal Comm (Private) Limited, India |
|
129600 |
|
A. G. Coal Sales (Private) Limited, India |
|
137700 |
|
Ashapura Merchantiles (Private) Limited, India |
|
3300 |
|
Ankur Khanna |
|
159900 |
|
Payal Khanna |
|
5000 |
|
Ashok Kumar Gupta |
|
10800 |
|
Sudha Gupta |
|
16500 |
|
Ashok Kumar Gupta (HUF) |
|
5400 |
|
Sanmati Commodities Private Limited, India |
|
3300 |
|
Axiom Tie-Up (Private) Limited, India |
|
276300 |
|
Merino Towers (Private) Limited, India |
|
230500 |
|
Carbon Edge Commercials Private Limited, India |
|
6600 |
|
Shivam Securities (Private) Limited |
|
9000 |
|
Jaldham Tradelink Private Limited, India |
|
36400 |
|
|
|
|
|
Total |
|
3335700 |
(AS ON 30.09.2012)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
25.27 |
|
Directors or relatives of directors |
|
67.00 |
|
Other top fifty shareholders |
|
7.73 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Low-Ash Metallurgical Coke and Coal Tar (a
by-product). |
||||
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|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||
|
Bankers : |
·
State Bank of India Commercial Branch, Alipore, 24/1/1, Alipore Road, 1st Floor, Kolkata -
700027, West Bengal, India |
||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||||||||
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Banking
Relations : |
-- |
|
|
|
|
Financial Institution : |
· GE Capital Transportation Financial Services Limited Alfacs Building, 1 Rafi Marg, New Delhi – 110001, India |
|
|
|
|
Auditors : |
|
|
Name : |
Agarwal Bhuwania and Company Chartered Accountant |
|
Address : |
158, Lenin Srani, Suite No.3, 1st Floor, Kolkata – 700013,
West Bengal, India |
|
PAN No.: |
AAFFA4889A |
CAPITAL STRUCTURE
(AS ON 29.09.2012)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3400000 |
Equity Shares |
Rs.10/- each |
Rs.34.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3335700 |
Equity Shares |
Rs.10/- each |
Rs.33.357
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 |
33.357 |
33.036 |
32.202 |
|
|
2] Share Application Money |
0.000 |
0.070 |
0.100 |
|
|
3] Reserves & Surplus |
353.816 |
303.390 |
202.762 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
387.173 |
336.496 |
235.064 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
617.147 |
487.845 |
93.389 |
|
|
2] Unsecured Loans |
115.370 |
74.630 |
37.885 |
|
|
TOTAL BORROWING |
732.517 |
562.475 |
131.274 |
|
|
DEFERRED TAX LIABILITIES |
35.324 |
31.638 |
25.687 |
|
|
|
|
|
|
|
|
TOTAL |
1155.014 |
930.609 |
392.025 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
258.213 |
222.381 |
209.694 |
|
|
Capital work-in-progress |
24.602 |
13.146 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
594.310
|
457.981 |
282.995 |
|
|
Sundry Debtors |
170.618
|
72.491 |
100.742 |
|
|
Cash & Bank Balances |
215.526
|
177.106 |
125.036 |
|
|
Other Current Assets |
9.847
|
2.335 |
0.000 |
|
|
Loans & Advances |
44.881
|
39.370 |
36.157 |
|
Total
Current Assets |
1035.182
|
749.283 |
544.930 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
140.505
|
32.785 |
351.637 |
|
|
Other Current Liabilities |
1.602
|
3.861 |
0.000 |
|
|
Provisions |
20.876
|
17.555 |
10.962 |
|
Total
Current Liabilities |
162.983
|
54.201 |
362.599 |
|
|
Net Current Assets |
872.199
|
695.082 |
182.331 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1155.014 |
930.609 |
392.025 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue From Operations |
1206.160 |
1210.487 |
501.189 |
|
|
|
Other Income |
0.000 |
0.000 |
32.996 |
|
|
|
TOTAL (A) |
1206.160 |
1210.487 |
534.185 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Material Consumed |
983.301 |
1075.257 |
|
|
|
|
Purchases of stock-in-trade |
0.000 |
0.000 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and
stock-in-trade |
101.153 |
(113.038) |
460.631 |
|
|
|
Employee benefit expense |
8.246 |
6.848 |
|
|
|
|
Other expenses |
43.531 |
123.193 |
|
|
|
|
TOTAL (B) |
1136.231 |
1092.260 |
460.631 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
69.929 |
118.227 |
73.554 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
45.986 |
46.344 |
27.315 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
23.943 |
71.883 |
46.239 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
13.062 |
8.028 |
12.787 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
10.881 |
63.855 |
33.452 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
5.863 |
21.547 |
5.092 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
5.018 |
42.308 |
28.360 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
81.493 |
31.454 |
NA |
|
|
|
|
|
|
|
|
|
|
MAT
Credit Entitlement |
4.038 |
7.731 |
NA |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
90.549 |
81.493 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.52 |
13.04 |
9.21 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.42
|
3.50 |
5.31 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.01
|
5.28 |
6.67 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.84
|
6.57 |
4.43 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03
|
0.19 |
0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.89
|
1.67 |
0.56 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
6.35
|
13.82 |
1.50 |
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 |
No |
|
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 |
Yes |
|
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) |
|
|
|
|
|
|
Other Loans and Advances |
114.375 |
73.828 |
|
Others Parties |
0.995 |
0.802 |
|
|
|
|
|
Total |
115.370 |
74.630 |
OPERATIONS:
The year in retrospect
was a very difficult year, so far as the operations of the company are
concerned. Since the company is a net importer of raw materials, depressing
rupee had been a great deterrent. The management hopes to have a better year
ahead.
FORM 8
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
90256900 |
|
Corporate
identity number of the company |
U21015WB1983PLC036934 |
|
Name of the
company |
CARBON EDGE
INDUSTRIES LIMITED |
|
Address of the registered
office or of the principal place of
business in |
1st Floor, Room
No.1A, 238A, A.J.C Bose Road, Kolkata – 700020, West Bengal, India |
|
Type of charge |
Immovable property |
|
Particular of
charge holder |
State Bank of
India Commercial
Branch, Alipore, 24/1/1, Alipore Road, 1st Floor, Kolkata – 700027, West
Bengal, India |
|
Nature of description
of the instrument creating or modifying the charge |
Memorandum of
Deposit for Creation of Further Charge for Term Loan / Overall Limit where
the Initial Charge is Created by way of Mortgage by Deposit of Title Deeds
(C.10) (2 sets). |
|
Date of
instrument Creating the charge |
21/01/2012 |
|
Amount secured by
the charge |
Rs.768.200
Millions |
|
Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Rate of Interest Cash Credit @4.00%
above Base Rate. Term Loan I
@6.75% above Base Rate. Term Loan II
@6.25% above Base Rate. Corporate Loan
@5.00% above Base Rate. Terms of
Repayment Working Capital
is repayable on demand as per Banking norms. Term Loan - I and
Corporate Loan will be repaid as per existing repayment schedule. Term Loan - II of
Rs.19.000 Millions is repayable in 12 quarterly installments, out of which
first 7 installments of Rs.1.000 Millions each, second 1 installment of
Rs.2.000 Millions and the last 4 installments of Rs.2.500 Millions each. Margin 25% of Raw
Materials, 25% of
Stock-in-Process, 25% of Finished
Goods, 30% of Book Debts
/ Receivables (Cover 90 days), and 20%$ of Letter of
Credit. $ Milestone margin
of 20% per month to be maintained from the 2nd month of opening of LC. Extent and
Operation of the charge First Charge on
the whole of the mortgaged properties as a continuing security. |
|
Short particulars
of the property charged |
1. Total area of
the above seven plots 49999.57 Sq. Metres, Revenue Survey No.170 within the
Revenue limits of Village-Chhasra, Taluka-Mundra, Sub-Registration
District-Mundra, District-Kachchih, State of Gujrat. Original Sale Deed No.1172, Registered in Book No.I
of 2003, Sub-Registrar Mandvi Date of Registration 20.06.2003. 2. All that the
Office Unit No."A" on the first floor measuring 846 sq. ft. (Super
Built up) with one covered Car Parking Space on the ground floor, together
with undivided proportionate share of land and all easement rights of the
building lying at Premises No.238A, A.J.C. Bose Road (formerly Lower Circular
Road), P.S.- Bhowanipur, Kolkata-700020. Original Title Deed vide Book No.I,
Volume No.33, Pages from 454 to 496, Being No.07543 for the year 2010 which
was registered at ADSR Alipore. |
|
Date of latest
modification prior to the present modification |
19/01/2011 |
|
Particulars of
the present modification |
By this
modification, the Overall Limit is enhanced from Rs.662.000 Millions to Rs.768.200
Millions. Particulars of Immovable Properties and all other terms and
conditions continue to remain as before in full force and effect. The break-up is
like this:- CC Rs.100.000
Millions TL-I# Rs.5.000
Millions TL-II# Rs.17.900
Millions CL# Rs.14.000
Millions ILC/FLC
Rs.600.000 Millions FC Rs.31.300
Millions #Present
Indebtedness against sanctioned limits of Rs.50.000 Millions (TL-I),
Rs.19.000 Millions (TL-II) and Rs.35.000 Millions (CL). |
FIXED ASSETS:
· Land
· Building
· Plant and Machinery
· Other Equipment
· Furniture and Fixture
· 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.53.77 |
|
|
1 |
Rs.81.57 |
|
Euro |
1 |
Rs.70.68 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
NO |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
38 |
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.