MIRA INFORM REPORT
|
Report Date : |
16.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
GOYAL MG GASES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
53, Friends Colony Eastnew Delhi, New Delhi – 110065 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.12.2011 |
|
|
|
|
Date of
Incorporation : |
23.04.1973 |
|
|
|
|
Com. Reg. No.: |
55-006578 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.94.110 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL1973PTC006578 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCG6972B |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
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|
|
|
Line of Business
: |
Company engaged in the manufacturing, bottling and marketing of industrial gases. |
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|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 23000000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
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|
|
|
Litigation : |
Exist |
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|
|
|
Comments : |
Subject is a well established company having a satisfactory track
record. The financial position of the company appears to be strong.
Performance capability seems to be high. Liquidity 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 business dealings at usual trade
terms and condition. |
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 |
|
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 = B+ |
|
Rating Explanation |
Having high risk of default regarding timely servicing of financial
obligation. |
|
Date |
February 2013 |
Note:
CRISIL had rated the subject company as B+
which is considered to be a moderate rating
However, our analysis confirms that the
company has sound and healthy financial strength in such a scenario we suggest
the company to be normal for business dealing.
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 : |
53, Friends Colony Eastnew Delhi, New Delhi – 110065,
India |
|
Tel. No.: |
91-11-26991470 |
|
Fax No.: |
91-11-26991479 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
A-38 (First Floor), Mohan Co-operative Industrial Estate, Main Mathura Road, New Delhi –110 044, India |
|
Tel. No.: |
91-11-26991470-74 / 41628141 / 43 / 40512301/ 02 |
|
Fax No.: |
91-11-26991479 / 41628144 |
|
|
|
|
Factory : |
Located At
|
|
|
|
|
Branch Office : |
Located At
|
DIRECTORS
As on 30.06.2012
|
Name : |
Mr. Suresh Chand Goyal |
|
Designation : |
Managing Director |
|
Address : |
B-45, Maharam Bagh, New Delhi-110065, India |
|
Date of Birth/Age : |
26.01.1946 |
|
Date of Appointment : |
23.04.1973 |
|
DIN No.: |
00220575 |
|
|
|
|
Name : |
Mr. Gulshan Kumar Balaya |
|
Designation : |
Whole-Time Director |
|
Address : |
960, Sector-4, Urban Estate, Gurgaon - 122001, Haryana, India |
|
Date of Birth/Age : |
24.10.1935 |
|
Date of Appointment : |
09.02.1994 |
|
DIN No.: |
00248715 |
KEY EXECUTIVES
|
Name : |
Mr. Sriniwas Chandan |
|
Designation : |
Secretary |
|
Address : |
N-L 11, IInd Floor, Laxminagar Delhi, India |
|
Date of Birth/Age : |
03.12.1977 |
|
Date of Appointment : |
20.03.2010 |
|
Pan No. : |
AMDPC4976A |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.06.2012
|
Names of Shareholders |
|
No. of Shares |
|
Goyal Chand Suresh |
|
3000 |
|
Goyal Meera |
|
162000 |
|
Goyal Aditya |
|
3000 |
|
Poysha Oxygen Private Limited, India |
|
2341270 |
|
Goyal Udyog (India) Private Limited, India |
|
2346660 |
|
Peacock Chemicals Private Limited, India |
|
2039890 |
|
Gas Supply Company Private Limited |
|
2365180 |
|
Jain Goyal Poysha |
|
150000 |
|
Total |
|
9411000 |
As on 30.06.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
96.62 |
|
Directors or relatives of Directors |
3.38 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Company engaged in the manufacturing, bottling and
marketing of industrial gases. |
PRODUCTION STATUS (As on 31.12.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Gases |
NM3 |
*181345 |
85990 |
*Install Capacity Increased Proportionately due to capitalization of Ghaziabad Plant as on 31.03.2011
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||
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|
|||||||||||||||
|
Bankers : |
Kotak Mahindra Bank Limited, 15-16 Upper Ground Floor, Ambadeep Building, 14, Kasturba Gandhi Marg, New Delhi - 110001, India |
|||||||||||||||
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Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
R. C. Agarwal and Company Chartered Accountants |
|
Address : |
102, Laxman Palace, 19 Veer Savarkar Block, Madhuban Road, Shakarpur, Delhi – 110092, India |
|
PAN.: |
AACFR7407E |
|
|
|
|
Subsidiaries : (As on 31.12.2010) |
Morgan Trade and Commerce |
|
|
|
|
Associates : (As on 31.12.2010) |
|
CAPITAL STRUCTURE
As on 31.12.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000000 |
Equity Shares |
Rs.10/- each |
Rs.250.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9411000 |
Equity Shares |
Rs.10/- each |
Rs.94.110
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2011 |
31.12.2010 |
31.12.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
94.110 |
94.110 |
94.110 |
|
|
2] Share Application Money |
650.000 |
650.000 |
650.000 |
|
|
3] Reserves & Surplus |
5209.659 |
5047.817 |
4355.664 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
5953.769 |
5791.927 |
5099.774 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1520.178 |
1942.517 |
1692.216 |
|
|
2] Unsecured Loans |
83.549 |
82.539 |
83.249 |
|
|
TOTAL BORROWING |
1603.727 |
2025.056 |
1775.465 |
|
|
DEFERRED TAX LIABILITIES |
120.174 |
116.395 |
83.275 |
|
|
|
|
|
|
|
|
TOTAL |
7677.670 |
7933.378 |
6958.514 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
4244.000 |
4087.650 |
3085.166 |
|
|
Capital work-in-progress |
411.760 |
553.719 |
809.671 |
|
|
|
|
|
|
|
|
INVESTMENT |
701.832 |
701.832 |
701.832 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
240.633
|
300.830 |
280.357 |
|
|
Sundry Debtors |
598.089
|
463.955 |
374.656 |
|
|
Cash & Bank Balances |
51.350
|
121.528 |
93.507 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
1609.134
|
1873.658 |
1730.674 |
|
Total
Current Assets |
2499.206
|
2759.971 |
2479.194 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
44.900
|
40.827 |
39.059 |
|
|
Other Current Liabilities |
77.395
|
72.791 |
37.283 |
|
|
Provisions |
56.833
|
56.176 |
41.007 |
|
Total
Current Liabilities |
179.128
|
169.794 |
117.349 |
|
|
Net Current Assets |
2320.078
|
2590.177 |
2361.845 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
7677.670 |
7933.378 |
6958.514 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2011 |
31.12.2010 |
31.12.2009 |
|
|
|
|
|
|
|
|
|
|
|
Income |
1767.100 |
1656.700 |
1625.200 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
1767.100 |
1656.700 |
1625.200 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
NA |
1106.400 |
1116.500 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
NA |
1106.400 |
1116.500 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
NA |
550.300 |
508.700 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
NA |
132.200 |
119.800 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
461.900 |
418.100 |
388.900 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
NA |
155.000 |
158.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
NA |
263.100 |
230.800 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
NA |
85.500 |
9.200 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
206.301 |
177.600 |
222.160 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1880.800 |
1729.200 |
1546.300 |
|
|
|
|
|
|
|
|
|
|
Adjustment
relating to earlier year |
NA |
(6.000) |
(18.700) |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
NA |
20.000 |
20.000 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
1880.800 |
1729.200 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Consumables |
NA |
0.114 |
1.908 |
|
|
|
Capital Goods |
NA |
12.240 |
30.861 |
|
|
TOTAL IMPORTS |
NA |
12.354 |
32.769 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
21.92 |
18.87 |
23.55 |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2011 |
31.12.2010 |
31.12.2009 |
|
PAT / Total Income |
(%) |
11.67
|
10.72 |
13.67 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
3.84 |
4.15 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.05 |
4.53 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.27
|
0.35 |
0.35 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
13.95
|
16.25 |
21.13 |
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 |
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 |
Yes |
|
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 |
LITIGATIONS DETAILS
IN THE HIGH COURT OF
DELHI AT NEW DELHI
ARB.A 2/2013
SBQ Steels LIMITED …. Appellant
Through Mr. S. Santanam Swaminadhan, Adv. With Ms. Kartika Sharma and Mr. Ajay Goswami, Adv.
Versus
GOYAL MG GASES PRIVATE LIMITED …. Respondent
Through Mr. Simran Mehta, Adv. With Ms. Yogita Sunari, Adv.
CORAM:
HON’BLE MR. JUSTICE MANMOHAN SINGH
Order
05.03.2013
No time left. List on 18th March 2013.
Manmohan Singh, J.
March 05, 2012/jk
OPERATIONS
During the year, total income of the company was Rs. 1767.100 Millions as against Rs. 1656.700 Millions in the previous year. The Company has been able to achieve profit before depreciation Rs. 461.900 Millions for the year as against Rs. 418.100 Millions in the previous year. During the year, Company‘s expansion and modernization of Ghaziabad Unit to enhance capacity of plant by 110 TPD Liquid Air Separation Unit (ASU) was successfully completed and commercial production from the plant was also started in March, 2011.
UNSECURED LOAN
Rs.
In Millions
|
Particular |
As
on 31.12.2011 |
As
on 31.12.2010 |
|
Other Debt Unsecured |
83.549 |
82.539 |
|
Total |
83.549 |
82.539 |
CONTINGENT LIABILITIES
NOT PROVIDED FOR (AS ON 31.12.2010)
a. Guarantees given and letters of credit issued by bank on behalf of company Rs. 260.057 Millions (Previous year Rs. 135.179 Millions
b. Central Excise and Service Tax demand under appeal Rs. 68.391 Millions (previous year Rs.53.605 Millions) however against the said demands the Company has paid Rs. Nil under protest (previous year Rs. NIL)
c. Sales tax demand under appeal Rs.1.705 Millions (Previous year 7.846 Millions) As the company has received refund Rs.6.141 Millions from department against such appeal during the year 2010.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U74899DL1973PTC006578 |
|
Name of the
company |
GOYAL MG GASES
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
53, Friends Colony Eastnew Delhi, New Delhi – 110065, India |
|
This form is for |
Modification of charge |
|
Charge
identification (ID) number of the charge to be modified |
10197898 |
|
Type of charge |
|
|
Particular of
charge holder |
Kotak Mahindra Bank Limited, 15-16 Upper Ground Floor, Ambadeep Building, 14, Kasturba Gandhi Marg, New Delhi - 110001, India |
|
Nature of
instrument creating charge |
Deed of hypothecation
dated 04.08.2012 |
|
Date of
instrument Creating the charge |
04.08.2012 |
|
Amount secured by
the charge |
Rs.150.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest As per sanction
letter or such other rate as may be prescribed by the bank from time to time. Terms of Repayment As per Sanction
terms of the facilities sanctioned. Margin The Company shall
maintain such margin as may be specified by the bank from time to time. Extent and Operation of the charge Subservient
charge on existing and future current assets of the borrower and First
exclusive charge by way of Equitable mortgage on Plot No.18, Block-C, Friends
Colony (East), Main Mathura Road, New Delhi belonging to Faridabad Implements
Private Limited to secure The credit facilities: Working Capital
Term Loan Facility of Rs. 140.000 Millions Overdraft I
Facilities of Rs. 150.000 Millions Overdraft II
Facilities of Rs. 10.000 Millions Overall exposure
of Credit Facilities not to exceed Rs. 150.000 Millions |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Subservient charge on existing and future current assets of the borrower in favour of kotak Mahindra Bank Limited to secure the credit facilities of Rs. 150.000 Millions First exclusive charge by way of Equitable mortgage on all that piece and parcel of land bearing Plot No.18, Block-C, Friends Colony (East), Main Mathura Road, New Delhi, admeasuring 800 square yards belonging to Faridabad Implements Private Limited is extended to secure the Credit Facilities of Rs. 150.000 Millions |
|
Date of
instrument modifying the charge |
03.08.2012 |
|
Particulars of
the present modification |
Credit facilities
(As mentioned below) are aditionally secured by subservient charge on
existing and future current assets of the borrower Working Capital
Term Loan Facility of Rs. 140.000 Millions Overdraft I
Facilities of Rs. 150.000 Millions Overdraft II
Facilities of Rs. 10.000 Millions Overall exposure
of Credit Facilities not to exceed Rs. 150.000 Millions. |
FIXED ASSETS
- Land
- Building
- Plant and machinery
- Furniture and Fixtures
- 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.54.16 |
|
|
1 |
Rs.81.74 |
|
Euro |
1 |
Rs.70.50 |
INFORMATION DETAILS
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--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 |
YES |
|
--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 |
|
TOTAL |
|
45 |
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.