1. Summary Information
|
|
|
Country |
India |
|
Company Name |
Reliable
Autotech Private Limited |
Principal Name 1 |
Mr. Devendra Dattatray Bapat |
|
Status |
Moderate |
Principal Name 2 |
Mr. Rajendra Bhaskar Bagwe |
|
|
|
Registration # |
11-101050 |
|
Street Address |
Plot No. F-80, MIDC, Ambad, Nashik – 422010, Maharashtra, India |
||
|
Established Date |
15.07.1996 |
SIC Code |
-- |
|
Telephone# |
91-253-2387696/ 3918553 |
Business Style 1 |
Manufacturing |
|
Fax # |
91-253-2384470 |
Business Style 2 |
Selling |
|
Homepage |
Product Name 1 |
Auto Components |
|
|
# of employees |
400 (Approximately) |
Product Name 2 |
Dies |
|
Paid up capital |
Rs.94,670,000/- |
Product Name 3 |
-- |
|
Shareholders |
Foreign holdings- 17.61%, Directors or relatives of
directors- 82.39% |
Banking |
Citi Bank NA |
|
Public Limited Corp. |
No |
Business Period |
17 years |
|
IPO |
No |
International Ins. |
-- |
|
Public |
No |
Rating |
B (36) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Subsidiaries |
-- |
Reliable Techno-Designs Private Limited |
-- |
|
Note |
-- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
570,530,000 |
Current Liabilities |
610,312,000 |
|
Inventories |
255,638,000 |
Long-term Liabilities |
665,400,000 |
|
Fixed Assets |
796,092,000 |
Other Liabilities |
44,737,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
1,320,449,000 |
|
Invest& other Assets |
39,212,000 |
Retained Earnings |
246,353,000 |
|
|
|
Net Worth |
341,023,000 |
|
Total Assets |
1,661,472,000 |
Total Liab. & Equity |
1,661,472,000 |
|
Total Assets (Previous Year) |
1,470,203,000 |
|
|
|
P/L Statement as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Sales |
2,727,249,000 |
Net Profit |
87,368,000 |
|
Sales(Previous yr) |
1,967,485,000 |
Net Profit(Prev.yr) |
48,534,000 |
MIRA
INFORM REPORT
|
Report Date : |
12.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
RELIABLE AUTOTECH PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. F-80, MIDC, Ambad, Nashik – 422010, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
15.07.1996 |
|
|
|
|
Com. Reg. No.: |
11-101050 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.94.670 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74994MH1996PTC101050 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
NSKR00741G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCR0897A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing
and Selling of Auto Components and Dies. |
|
|
|
|
No. of Employees
: |
400 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (36) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1400000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. The external
borrowing of the company appears to be huge. However, the financial performance of the company has improved and
wipe out its accumulated losses. The promoters appear to be experience and having good business
relationship with its key customer. Trade relations are reported to be fair. Business is active. Payments
are reported to be 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 |
ICRA |
|
Rating |
Long Term Loans = BB |
|
Rating Explanation |
Moderate risk of default |
|
Date |
July 2012 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short Term Fund Based Working Capital Facility = A4+ |
|
Rating Explanation |
Minimal degree of safety and higher credit risk. |
|
Date |
July 2012 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered/ Corporate Office : |
Plot No. F-80, MIDC, Ambad, Nashik – 422010, |
|
Tel. No.: |
91-253-2387696/ 3918553/ 3918545 |
|
Mobile No.: |
91-9850066560 (Mr. Dhananjay Gore) |
|
Fax No.: |
91-253-2384470 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1 : |
H-101/102, MIDC, Ambad, Nashik – 422010, |
|
|
|
|
Factory 2 : |
E-65/1, MIDC, Ambad, Nashik – 422010, Maharashtra, India |
|
|
|
|
Factory 3 : |
C-2, MIDC, Chakan, Pune – 410501, |
DIRECTORS
(AS ON 10.09.2012)
|
Name : |
Mr. Devendra Dattatray Bapat |
|
Designation : |
Director |
|
Address : |
5, Manas, Near Ganesh Mandir, Savarkar Nagar, Gangapur Road, Nashik –
422013, Maharashtra, India |
|
Date of Birth/Age : |
22.08.1959 |
|
Date of Appointment : |
15.07.1996 |
|
DIN No.: |
00129623 |
|
PAN No.: |
AEOPB3729D |
|
|
|
|
Name : |
Mr. Amol Bhalchandra Chitnis |
|
Designation : |
Director |
|
Address : |
Isha, 9, Savarkar Nagar, |
|
Date of Birth/Age : |
08.07.1960 |
|
Date of Appointment : |
15.07.1996 |
|
DIN No.: |
00121460 |
|
PAN No.: |
ACWPC2194H |
|
|
|
|
Name : |
Mr. Rajendra Bhaskar Bagwe |
|
Designation : |
Director |
|
Address : |
8, “Arohan”, Palm Spring, Savarkar Nagar, Gangapur Road, Nashik –
422013, Maharashtra, India |
|
Date of Birth/Age : |
07.08.1959 |
|
Date of Appointment : |
15.07.1996 |
|
DIN No.: |
00121238 |
|
PAN No.: |
ADYPB9120F |
|
|
|
|
Name : |
Mr. Shaji Varghese |
|
Designation : |
Nominee Director |
|
Address : |
A/702, 7th Floor, Aster, Evershine Park, Prathmesh Comp,
Veera Desai Road, Andheri (West), Mumbai – 400053, Maharashtra, India |
|
Date of Birth/Age : |
15.12.1970 |
|
Date of Appointment : |
21.04.2010 |
|
DIN No.: |
03081298 |
|
Nominee Company : |
BTS India Private Equity Fund Limited |
|
|
|
|
Name : |
Mr. Vijay Vaman Paranjape |
|
Designation : |
Director |
|
Address : |
Mauli, 2nd Floor, Gawnd Path, Naupada, Thane – 400602,
Maharashtra, India |
|
Date of Birth/Age : |
25.07.1948 |
|
Date of Appointment : |
23.12.2011 |
|
DIN No.: |
00370451 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 10.09.2012)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Devendra Dattatray Bapat |
|
2400000 |
|
Amol Bhalchandra Chitnis |
|
2400000 |
|
Rajendra Bhaskar Bagwe |
|
2400000 |
|
Seema Devendra Bapat |
|
200000 |
|
Shailaja Rajendra Bagwe |
|
200000 |
|
Gauri Amol Chitnis |
|
200000 |
|
BTS India Private Equity Fund Limited, Mauritius |
|
1667000 |
|
|
|
|
|
Total |
|
9467000 |
(AS ON 30.09.2012)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
17.61 |
|
Directors or relatives of directors |
|
82.39 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Selling of Auto Components and Dies. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
400 (Approximately) |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
· The Thane Janata Sahakari Bank Limited Nashik Branch, Nashik – 422002, Maharashtra, India · Citi Bank N A CITI Group
Centre, C-61, Bandra Kurla Complex, Bandra (East), Mumbai - 400051,
Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
----------------------------------------------------------------------------------------------------------
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse and Company Chartered Accountants |
|
Address : |
252, Veer Savarkar Marg, |
|
PAN No.: |
AADFP9358C |
|
|
|
|
Subsidiaries : |
· Reliable Techno-Designs Private Limited CIN No.:
U74200MH2007PTC174479 |
|
|
|
|
Enterprises over
which personnel individuals having significant influence on company : |
· Reliable Technocrafts Private Limited CIN No.: U34100MH1989PTC051360 |
CAPITAL STRUCTURE
(AS ON 10.09.2012)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
|
500000 |
Preferences Shares |
Rs.10/- each |
Rs.5.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.105.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9919718 |
Equity Shares |
Rs.10/- each |
Rs.99.197
Millions |
|
|
|
|
|
(AS ON 31.03.2012)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9467000 |
Equity Shares |
Rs.10/- each |
Rs.94.670
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 |
94.670 |
94.670 |
94.670 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
246.353 |
184.070 |
184.070 |
|
|
4] (Accumulated Losses) |
0.000 |
(25.084) |
(73.618) |
|
|
NETWORTH |
341.023 |
253.656 |
205.122 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
635.051 |
693.516 |
629.124 |
|
|
2] Unsecured Loans |
30.349 |
32.869 |
34.108 |
|
|
TOTAL BORROWING |
665.400 |
726.385 |
663.232 |
|
|
DEFERRED TAX LIABILITIES |
22.924 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1029.347 |
980.041 |
868.354 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
796.092 |
726.035 |
722.628 |
|
|
Capital work-in-progress |
15.226 |
88.781 |
8.216 |
|
|
|
|
|
|
|
|
INVESTMENT |
23.986 |
20.578 |
0.577 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
255.638
|
241.145
|
192.413
|
|
|
Sundry Debtors |
399.086
|
250.177
|
198.130
|
|
|
Cash & Bank Balances |
65.474
|
70.230
|
37.446
|
|
|
Other Current Assets |
0.700
|
0.299
|
0.578
|
|
|
Loans & Advances |
105.270
|
72.958
|
76.566
|
|
Total
Current Assets |
826.168
|
634.809
|
505.133
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
410.221
|
357.565
|
211.251
|
|
|
Other Current Liabilities |
200.091
|
111.970
|
148.206
|
|
|
Provisions |
21.813
|
20.627
|
8.743
|
|
Total
Current Liabilities |
632.125
|
490.162
|
368.200
|
|
|
Net Current Assets |
194.043
|
144.647
|
136.933
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1029.347 |
980.041 |
868.354 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
2727.249 |
1967.485 |
1273.105 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
2574.998 |
1841.435 |
1210.150 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
152.251 |
126.050 |
62.955 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION |
51.253 |
59.750 |
46.422 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
100.998 |
66.300 |
16.533 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
13.630 |
17.766 |
(1.356) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
87.368 |
48.534 |
17.889 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(25.084) |
(73.618) |
(91.507) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
62.284 |
(25.084) |
(73.618) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
261.480 |
254.783 |
165.198 |
|
|
TOTAL EARNINGS |
261.480 |
254.783 |
165.198 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
8.462 |
10.069 |
1.396 |
|
|
|
Stores & Spares |
5.440 |
5.353 |
7.162 |
|
|
|
Capital Goods |
3.126 |
89.020 |
0.000 |
|
|
TOTAL IMPORTS |
17.028 |
104.442 |
8.558 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
9.23 |
5.13 |
1.89 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
3.20
|
2.47
|
1.40
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.23
|
4.87
|
1.35
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.30
|
0.26
|
0.08
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.95
|
2.86
|
3.23
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.31
|
1.30
|
1.37
|
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 |
Yes |
|
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 |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm / promoter
involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if
available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
CONTINGENT
LIABILITIES
|
Particulars |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In
Millions) |
|
|
|
|
|
|
(i) Guarantees (net of expired guarantees) given by banks on behalf of
the Company |
1.084 |
1.437 |
|
(ii) Guarantees (net of expired guarantees) given by banks on behalf
of the Company (State Bank of India) |
71.397 |
9.219 |
|
(iii) Bonds issued in favour of Excise and Customs authorities |
71.731 |
72.136 |
|
(iv) Bills Discounted/ Factored with Bank |
145.264 |
122.669 |
FIXED ASSETS:
·
· Building
· Plant and Machinery
· Furniture and Fixtures
· Office Equipment
· 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.54.29 |
|
UK Pound |
1 |
Rs.81.09 |
|
Euro |
1 |
Rs.70.61 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
36 |
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.