MIRA
INFORM REPORT
|
Report Date : |
09.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
SKF BOILERS AND DRIERS PRIVATE LIMITED |
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Registered
Office : |
D.No 129, Bannadka belavi, Moodbidri, Mangalore – 574213, Karnataka |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
19.06.2003 |
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Com. Reg. No.: |
08-032118 |
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Capital
Investment / Paid-up Capital : |
Rs.18.900
Millions |
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|
|
CIN No.: [Company Identification
No.] |
U29253KA2003PTC032118 |
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|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Boiler and Rice Mill Machinery. |
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|
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|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 150000 |
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|
Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a moderate track record. There appears huge external borrowing recorded by the company. The profitability
also appears very low. However, trade relations are reported as fair. Business is active.
Payment terms are slow. The company can be considered for business dealings with great
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) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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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 |
SE 1C |
|
Rating Explanation |
Highest performance capability and low financial strength. |
|
Date |
February 2011 |
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 : |
D.No 129, Bannadkabelavi, Moodbidri, Mangalore – 574213,
Karnataka, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
Email : |
DIRECTORS
As on: 29.09.2012
|
Name : |
Mr. Ramakrishna Achar |
|
Designation : |
Managing director |
|
Address : |
SKF Industries, 5-171/A (1) Swaraj Maida, Post Moodabidri, 574227, Karnataka, India |
|
Date of Appointment : |
19.06.2003 |
|
DIN No.: |
00797929 |
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|
|
Name : |
Mr. Ramadas Prabhu |
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Designation : |
Director |
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Address : |
Ramprakash Nadigudde, Belvai, Mangalore, 574213, Karnataka, India |
|
Date of Appointment : |
27.08.2003 |
|
DIN No.: |
00797976 |
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|
Name : |
Mr. Jitendra Kanunga |
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Designation : |
Whole-time director |
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Address : |
No 90 Kanakapura Road, Basavanagudi, Bangalore, 560004, Karnataka, India |
|
Date of Appointment : |
09.02.2011 |
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DIN No.: |
00877586 |
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Name : |
Mr. Pramod Kumar |
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Designation : |
Whole-time director |
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Address : |
Old No 74 New No 225, Thimmaiah Road, Bangalore, 560001, Karnataka, India |
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Date of Appointment : |
09.02.2011 |
|
DIN No.: |
03349179 |
MAJOR SHAREHOLDERS
As on: 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
G. Ramakrishna Achar |
|
652500 |
|
SKF PAR Boiled Driers Private Limited |
|
290000 |
|
Ramadas Prabhu |
|
2500 |
|
Catalytic Investment and Holdings Private Limited |
|
945000 |
|
Kanunga Extrusion Private Limited |
|
10 |
|
Total |
|
1890010 |
Equity Share Break up (Percentage of Total Equity)
As on: 29.09.2012
|
Category |
Percentage |
|
Bodies corporate |
65.35 |
|
Directors or relatives of Directors |
34.65 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Boiler and Rice Mill Machinery. |
GENERAL INFORMATION
|
Suppliers : |
· A.R. Enterprises, Bangalore · Akhil Enterprises · Ador Fontech Limited · Amar Trading Company · Ananth Technodes · Ann Dee Distributors, Chandigarh · Arun Steels · Azad Hardware · A to Z Engineering and Maintenance Services (R.) · Balaji Steel and Railings Furniture, Udupi · Bavani Agencies · Boc India Limited · Cair Euromatic Automation · Dev Alloys, Karwar · Durga Steels, Bangalore · Ganesh Industrial Supplies · Geeta Steel and Engg. Company, Mumbai · Gem Steel and Strips · Gupta Electrical Industries · Hansika Traders, Chikmagalur · Hema Enterprises, Bangalore · Hari Belts And Conveyors Private Limited · Hindustan Trade Development Corporation, BLR · Industrial Gears Company · John Enterprises, Mumbai · Jyothi Advertisers, Mangalore · Karinja Industrial Suppliers · Karnad Gases Private Limited, Mulki |
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Customers : |
· Aditi Rice Mill (P) Limited, Burdwan · Avon Proteins Private Limited, Gujarat · Boss Tech Rice and Agro Private Limited Tiruchirapalli · Db Energy and Foods Private Limited, Cg · Gokula Estate · Halase Estate · Krishak Bandhu Agro Products, Wb · Krishna Prasad Industries, Raichur · Krbl Limited, · M.S. Jayaram, Sunshine Traders – Chikamagalur · Labana Global Ventures Limited, Nigeria · Popular Foods Limited., Nigeria · Prasad Estate · Pragati Edible Processing Private Limited, Kolkata · Sandalwood Estate · Seenithevar Modern Rice Mill, Madurai · Shree Gauri Rice Mill Private Limited, Gujarat · Shiva Sai Rice Industries, Ap · Siddhi Vinayaka Agro Industries, Gujarat · Sri Lakshmi Narayana Rice Mill · Sri Srinivasa Modern Rice Mill, Thiruchi · Sri Srinivasa Modern Rice Mill, Thiruchi · Stine Industries Limited, Nigeria |
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No. of Employees : |
Not Available |
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Bankers : |
Canara Bank, Bunder Branch, Nellikai Road, Mangalore - 575001, Karnataka, India |
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
S.S. Nayak Chartered Accountant |
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Address : |
1st Floor, Ibrose Commercial Complex, M.G. Road, Mangalore - 575 003. |
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Tel. No.: |
91-0824-2496196, 2496296 2496396, 2496496 |
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Mobile No.: |
91-9845321005 |
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Fax No.: |
91-08244272767 |
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E-Mail : |
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1890010 |
Equity Shares |
Rs.10/- each |
Rs.18.900
Millions |
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|
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RECONCILIATION OF
NUMBER AND AMOUNT OF SHARES
(Rs. In Millions)
|
|
Current Year 2012 |
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|
Particulars |
No of Shares |
Amount |
|
Opening Balance |
1890010.00 |
18.900 |
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Add: Fresh Issue |
- |
- |
|
Sub-Total |
1890010.00 |
18.900 |
|
Less: Redemption / Buy-Back |
- |
- |
|
Closing Balance |
1890010.00 |
18.900 |
RIGHTS, PREFERENCES AND
RESTRICTIONS ATTACHED TO SHARES:
The company has only equity shares with voting rights.
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 |
18.900 |
18.900 |
6.550 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
20.439 |
20.364 |
19.380 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
39.339 |
39.264 |
25.930 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
84.027 |
119.162 |
89.996 |
|
|
2] Unsecured Loans |
32.083 |
27.083 |
0.000 |
|
|
TOTAL BORROWING |
116.110 |
146.245 |
89.996 |
|
|
DEFERRED TAX LIABILITIES |
1.946 |
2.237 |
2.561 |
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|
|
|
|
|
|
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TOTAL |
157.395 |
187.746 |
118.487 |
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APPLICATION OF FUNDS |
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|
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FIXED ASSETS [Net Block] |
53.893 |
61.313 |
67.528 |
|
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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|
|
|
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
183.915
|
210.783 |
162.144 |
|
|
Sundry Debtors |
9.216
|
6.699 |
15.309 |
|
|
Cash & Bank Balances |
1.972
|
6.782 |
8.204 |
|
|
Other Current Assets |
0.703
|
0.735 |
0.779 |
|
|
Loans & Advances |
11.263
|
13.879 |
9.749 |
|
Total
Current Assets |
207.069
|
238.878 |
196.185 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
66.045
|
71.223 |
139.945 |
|
|
Other Current Liabilities |
37.178
|
40.575 |
0 |
|
|
Provisions |
0.344
|
0.647 |
5.281 |
|
Total
Current Liabilities |
103.567
|
112.445 |
145.226 |
|
|
Net Current Assets |
103.502
|
126.433 |
50.959 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
157.395 |
187.746 |
118.488 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
217.060 |
292.091 |
411.995 |
|
|
|
Export Sales |
55.022 |
59.521 |
30.895 |
|
|
|
Other Income |
3.134 |
12.392 |
9.515 |
|
|
|
TOTAL (A) |
275.216 |
364.004 |
452.405 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
252.423 |
338.841 |
422.887 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
252.423 |
338.841 |
422.887 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
22.793 |
25.163 |
29.518 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
15.183 |
15.051 |
12.366 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
7.610 |
10.112 |
17.152 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
7.415 |
8.754 |
8.157 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
0.195 |
1.358 |
8.995 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.154 |
0.584 |
2.991 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
0.041 |
0.774 |
6.004 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
53.991 |
59.638 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.02 |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.01
|
0.21 |
1.33 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.09
|
0.46 |
2.18 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.07
|
0.45 |
3.41 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00
|
0.03 |
0.35 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.95
|
3.72 |
3.47 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.00
|
2.12 |
1.35 |
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 |
Yes |
|
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 |
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 |
FINANCIAL RESULTS /
HIGHLIGHTS:
For the year ended 31st March 2012 the Turnover achieved was Rs. 278.325 Millions compared to the previous year’s turnover of Rs.301.793 Millions. The reduction in the Sales of the Company was due to the slump in market. However during end of the financial year market has shown rising trend. In spite of the decrease in sales the Company has managed to achieve good turnover with better profit margin, which is evident by the Profits achieved by the Company.
UNSECURED LOAN:
(Rs in Millions)
|
Particulars |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
LONG TERM
BORROWINGS |
|
|
|
LOANS AND ADVANCES FROM RELATED PARTIES |
|
|
|
Kanunga Extrusion Private Limited |
25.000 |
25.000 |
|
S.K.F. Par Boiled Driers Private Limited |
2.083 |
2.083 |
|
G. Ramkrishna Achar |
5.000 |
0.000 |
|
Total |
32.083 |
27.083 |
BANKERS CHARGES
REPORT AS PER REGISTRY:
|
Corporate
identity number of the company , |
U29253KA2003PTC032118 |
|
Name of the
company |
SKF BOILERS AND
DRIERS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
D.No. 129, Bannadkabelavi, Moodbidri, Mangalore – 574213 Karnataka, India |
|
This form is for |
Modification of charge |
|
Charge
identification (ID) number of the charge to be modified |
10100754 |
|
Type of charge |
· Immovable property · Book debts · Movable property (not being pledge) · Floating charge |
|
Particular of
charge holder |
Canara Bank, Bunder Branch, Nellikai Road, Mangalore – 575001, Karnataka, India |
|
Nature of
instrument creating charge |
1. Letter EMT Additional Limits 2. Supplemental Hypothecation Agreement 3. Letter Extending/Enhancing Credit Limits 4. Guarantee Agreement 5. Guarantee Covering Letter 6. Pronote 7. Letter Evidencing Execution Of Documents (All The Documents Relate To The Same Charge) |
|
Date of
instrument Creating the charge |
02.07.2012 |
|
Amount secured by
the charge |
Rs.152.104
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest On Ad-hoc OCC
Limits of Rs.10.000 Millions - Benchmark PLR+4.5% p.a., with min. 15% p.a.
compounded monthly; On remaining existing Credit Limits, including existing
OCC: Same as earlier. Terms of Repayment On Ad-hoc OCC
Limits of Rs.10.000 Millions - for 60 DAYS; On remaining existing Credit
Limits, including existing OCC: Same as earlier. Margin On Ad-hoc OCC
Limits of Rs.10.000 Millions - same as existing OCC On remaining existing
Credit Limits, including existing OCC: Same as earlier. Extent and Operation of the charge Charge extends by
way of 1st charge on assets mentioned in (15) below for securing the
repayment of following Credit Limits including interest, cost and other
charges: OCC: Rs.64.000 Millions (including Ad-hoc OCC Limits Rs.10.000
Millions) (enhanced from Rs.54.000 Millions) PC/FDB: 30.000 Millions Term
Loans: Rs.57.066 Millions i. e. TL1: Rs.9.466 Millions, TL2: Rs.29.200
Millions, TL3: Rs.2.200 Millions and TL4: Rs.16.200 Millions Bank Guarantee:
Rs.1.038 Millions Total Rs.152.104 Millions. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
·
Plant
and Machineries and other movable assets belonging to the Company. ·
Hypothecation
of stocks and receivables arising out of genuine Trade Transactions of the
Company. ·
Landed
Properties incl. buildings and machineries of the Company situated at Sy.
No.169-3 of 2.97 Acres located in Padumarnadu Village, Karkala Taluk, D.K.
District. |
|
Date of
instrument modifying the charge |
23.06.2011 |
|
Particulars of
the present modification |
Extension of
existing charge on books debts, stock, movable properties and landed property
of the Company, to secure the repayment of following Credit Facilities of
Rs.152.104 Millions: OCC: Rs.64.000
Millions (increased from Rs.54.000 Millions, by grant of Ad-hoc OCC of
Rs.10.000 Millions) PC/FDB: 30.000 Millions Term Loans: Rs.57.066 Millions i.
e. TL1: Rs.9.466 Millions, TL2: Rs.29.200 Millions, TL3: Rs.2.200 Millions
and TL4: Rs.16.200 Millions Bank Guarantee: Rs.1.038 Millions Total
Rs.152.104 Millions |
FIXED ASSETS:
· Factory Building
· Factory Yard
· Office Building
· Plant and Machineries
· Double Girider Eot Crane
· Hydraulic Press Break Machine
· Laser Cutting Machine
· Manifold Gas System
· Hydraulic Shearing Machine
· Voltas 9 Ton Mobile Crane
· Electrical Fittings
· 400 Kva Ht Power Line
· Air Conditioner
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.54.40 |
|
|
1 |
Rs.81.57 |
|
Euro |
1 |
Rs.71.24 |
INFORMATION DETAILS
|
Report Prepared
by : |
RAJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
TOTAL |
|
29 |
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.