MIRA INFORM REPORT
|
Report Date : |
20.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
MASTANA FOODS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
2646, 1st Floor, Gali Raghu Nandan, Naya Bazar,
Delhi-110006 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
03.03.1999 |
|
|
|
|
Com. Reg. No.: |
55-098638 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.450.482 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15319DL1999PTC098638 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELM05674E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCM9944N |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Rice. |
|
|
|
|
No. of Employees
: |
80 (Approximately) (In Office + In Factory) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 2800000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
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|
|
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Litigation : |
Clear |
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|
|
Comments : |
Subject is an established company having moderate track record. There
appears huge external borrowings recorded by the company. However, trade
relations are reported as 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) |
|
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 |
LETTER OF CREDIT : CRISIL A4+ |
|
Rating Explanation |
Minimal degree of safety it carry very high credit risk |
|
Date |
25.09.2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
CASH CREDIT : CRISIL BB- |
|
Rating Explanation |
Moderate risk of default |
|
Date |
25.09.2012 |
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.
INFORMATION PARTED BY
|
Name : |
Mr. Krishan Mohan |
|
Designation : |
Director |
|
Contact No.: |
91-9812092419 |
|
Date : |
26.02.2013 |
LOCATIONS
|
Registered Office : |
2646, 1st Floor, Gali Raghu Nandan, Naya Bazar, Delhi-110006,
India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9812092419 (Mr. Krishan) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
Kurushetra Road, Kaithal-136027, Haryana, India |
|
Tel. No.: |
91-1746-229419/23921819 |
|
Fax No.: |
91-1746-224919 |
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mr. Krishan Mohan |
|
Designation : |
Director |
|
Address : |
114/5, Sewan Gate, Kaithal, Haryana, India |
|
Date of Birth/Age : |
02.10.1963 |
|
Date of Appointment : |
03.03.1999 |
|
PAN No.: |
ABFPM7898C |
|
DIN No.: |
01105765 |
|
Name : |
Mr. Anil Khurana |
|
Designation : |
Director |
|
Address : |
113/5, Sewan Gate, Kaithal, Haryana, India |
|
Date of Birth/Age : |
09.12.1961 |
|
Date of Appointment : |
25.10.1999 |
|
DIN No.: |
01105695 |
|
Name : |
Ms. Radha Kishan |
|
Designation : |
Director |
|
Address : |
114/5, Sewan Gate, Kaithal, Haryana, India |
|
Date of Birth/Age : |
01.04.1938 |
|
Date of Appointment : |
03.03.1999 |
|
PAN No.: |
BNXPK1330E |
|
DIN No.: |
03232048 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
No. of Shares |
|
Krishan Mohan Mendiratta |
5085926 |
|
Radha Mendiratta |
1045402 |
|
Anuradha Mendiratta |
1068800 |
|
Krishan Mohan HUF |
640000 |
|
Anil Khurana |
320000 |
|
Anil Khurana |
1088000 |
|
Infini Fine Foods Private Limited, India |
2400000 |
|
Sanjivini Commotrade Private Limited, India |
5738000 |
|
Total |
17386128 |
AS ON 30.09.2010
|
Equity Shares
Break Up |
Percentage |
|
Bodies corporate |
47.00 |
|
Directors or relatives of Directors |
53.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Rice. |
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Exports : |
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|
Products : |
Rice |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash, Credit (30 Days) |
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|
|
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Purchasing : |
Cash, Credit (30 Days) |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Sotex Plant |
M.T. Per Hour |
34 |
-- |
|
Rice Milling Plant |
M.T. Per Hour |
26 |
-- |
|
Silky Plant |
M.T. Per Hour |
36 |
-- |
|
Rice |
|
|
|
|
Basmati |
In Qtls. |
-- |
307053.41 |
|
Super Fine |
In Qtls. |
-- |
5517.52 |
GENERAL INFORMATION
|
Customers : |
Wholesalers, Retailers and End Users |
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No. of Employees : |
80 (Approximately) (In Office + In Factory) |
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Bankers : |
State Bank of India, Jind Road, Kaithal-136027, Haryana, India Contact No.: 91-1746-223812 |
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Facilities : |
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Banking
Relations : |
-- |
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|
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Auditors : |
|
|
Name : |
M Lal and Associates Chartered Accountant |
|
Address : |
L 107, 2nd Floor, Lajpat Nagar II, Delhi-110024, India |
|
Pan No.: |
AAIFM6675M |
|
|
|
|
Entities over which key managerial personnel or
their relatives exercise significant influence : |
CIN No.:-
U15314HR2005PTC035907
CIN No.:-
U15316HR2007PTC036588 |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
45500000 |
Equity Shares |
Rs.10/- each |
Rs.455.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
45048208 |
Equity Shares |
Rs.10/- each |
Rs.450.482
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 |
450.482 |
173.869 |
173.869 |
|
|
2] Share Application Money |
0.000 |
95.000 |
0.000 |
|
|
3] Reserves & Surplus |
249.852 |
48.596 |
21.086 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
700.334 |
317.465 |
194.955 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1425.424 |
977.139 |
451.624 |
|
|
2] Unsecured Loans |
7.336 |
2.836 |
0.529 |
|
|
TOTAL BORROWING |
1432.760 |
979.975 |
452.153 |
|
|
DEFERRED TAX LIABILITIES |
4.653 |
3.846 |
1.947 |
|
|
OTHER LIABILITIES |
0.000 |
272.032 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2137.747 |
1573.318 |
649.055 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
456.471 |
411.861 |
122.014 |
|
|
Capital work-in-progress |
0.779 |
15.029 |
51.579 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1276.573
|
1089.295
|
372.511 |
|
|
Sundry Debtors |
583.245
|
188.862
|
123.839 |
|
|
Cash & Bank Balances |
1.977
|
9.781
|
8.470 |
|
|
Other Current Assets |
8.636
|
0.000
|
0.000 |
|
|
Loans & Advances |
46.308
|
46.667
|
25.964 |
|
Total
Current Assets |
1916.739
|
1334.605
|
530.784 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
165.212
|
183.042
|
15.769 |
|
|
Other Current Liabilities |
69.751
|
4.176
|
39.104 |
|
|
Provisions |
1.279
|
0.959
|
0.449 |
|
Total
Current Liabilities |
236.242
|
188.177
|
55.322 |
|
|
Net Current Assets |
1680.497
|
1146.428
|
475.462 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2137.747 |
1573.318 |
649.055 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Gross and Other Income |
5595.285 |
4300.520 |
2713.123 |
|
|
|
Other Income |
NA |
|
|
|
|
|
TOTAL |
NA |
4300.520 |
2713.123 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
NA |
4237.052 |
2675.883 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
4237.052 |
2675.883 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
85.594 |
63.468 |
37.240 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
30.165 |
22.880 |
7.362 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
55.429 |
40.588 |
29.878 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
18.593 |
13.504 |
10.382 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
36.836 |
27.084 |
19.496 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
85.506 |
30.552 |
61.440 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Plant and Machinery |
NA |
NA |
37.878 |
|
|
TOTAL IMPORTS |
NA |
NA |
37.878 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.82 |
1.56 |
1.52 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA
|
0.63
|
0.72 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.34
|
2.32
|
4.58 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08
|
0.13
|
0.15 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.05
|
3.09
|
2.32 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
8.11
|
7.09
|
9.59 |
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 |
Yes |
|
10] |
Designation of contact person |
Yes |
|
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 |
Yes |
|
20] |
Export / Import details (if applicable) |
Yes |
|
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 |
DETAILS OF
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
|
31.03.2012 |
|
LOANS AND ADVANCES |
|
|
|
-- From Directors |
|
7.216 |
|
-- From Others |
|
0.120 |
|
Total |
|
7.336 |
|
Particulars |
|
Rs.
In Millions 31.03.2011 |
|
Loans directors unsecured |
|
2.836 |
|
Total |
|
2.836 |
AMALGAMATION
As per the orders
of the Hon’ble High Court at New Delhi dated 29.04.2011, the Scheme of
Amalgamation of Infini Agrotech Private Limited (Transferor Company) with Mastana
Foods Private Limited (Transferee Company) was approved w. e. f. April 1, 2010.
The formal order was received from the Hon’ble High Court at New Delhi and
filed with ROC New Delhi. All the business of erstwhile Infini Agrotech Private
Limited along with all assets and liabilities stand vested in your company with
effect from appointed date i. e. 01.04.2010. Amalgamation will result in
pooling of resources and higher financial liquidity. Accordingly, 2,72,03,280
fully paid equity shares of Rs.10/- each were allotted to the shareholders of
erstwhile Infini Agrotech Private Limited.
FORM 8
|
Corporate identity number of the company |
U15319DL1999PTC098638 |
|
Name of the company |
MASTANA FOODS PRIVATE LIMITED |
|
Address of the registered office or of the principal place of business in India of the company |
2646, 1st Floor, Gali Raghu Nandan, Naya Bazar, Delhi-110006, India E-mail id : mlalassociates@gmail.com |
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
10112729 |
|
Type of charge |
Immovable property Book debts Movable property (not being pledge) |
|
Particular of charge holder |
State Bank of India, Main Branch, Jind Road, Kaithal-136027, Haryana, India E-mail Id : sbi.00663@gmail.com |
|
Nature of instrument creating charge |
Agreement of hypothecation of goods and assets dated 23.11.2012 for enhancement of overall credit limit to Rs.1681.600 Millions |
|
Date of instrument Creating the charge |
23.11.2012 |
|
Amount secured by the charge |
Rs.1681.600 Millions |
|
Brief of the principal terms an conditions and extent and operation of the charge |
Rate of interest Cash Credit : 2.25% above BR, Term Loan I : 2.35% above BR, Term Loan V : 2.40% above BR, Other Term Loans and DL-WHR : As applicable under the scheme Terms of repayment WC : Repayable on demand, Term Loan I, II, III, IV, V and Corporate Loan : As per original Sanction Margin 25% of stock and 30% on Book debts for Cash credit limit and 30% of RM/FG for DL-WHR Extent and operation of the charge Entire Current assets and entire fixed assets of the company against working capital limit/corporate loan of Rs.1510.000 Millions (cash credit limit Rs.1500.000 Millions, SLC Rs.10.000 Millions), Term loans of Rs.169.900 Millions (Term Loan-I Rs. 9.200 Millions, Term Loan-II Rs.0.300 Million, TL-III Rs.24.800 Millions, TL-IV Rs.10.500 Millions, TL-V Rs.55.100 Millions and Corp. Loan Rs.70.000 Millions) and forward contract Rs.1.700 Millions. |
|
Short particulars of the property charged (Including location of the property) |
Entire current assets including stock of Raw-material, WIP and finished goods lying at the premises of the company and lying anywhere else and Book debts / receivables etc. Entire Fixed Assets of the company including plant and machinery (existing and future) and Miscellaneous Fixed Assets of the firm purchased out of the bank finance. Land and Building measuring 77 kanal 4 marlas at Patti Kaisth Seth, 4 K.M. milestone, Kurukshetra Road, Kaithal (Haryana) Vacant land (adjoining factory land) measuring 68 kanal 2 marlas at Patti Kaisth, Kurukshetra Road, Kaithal (Haryana) Residential plot no. 952(p) sector-19 (Part-II) Urban Estate Kaithal measuring 427 sq. yards in the name of Sunanda Khurana. Shop No. 365/6, situated inside Siwan gate M.C.Kaithal, measuring 45.91 sq. yards in the name of Smt. Anuradha Mehndiratta. Land and Building measuring 20 Kanal 9 Marlas (1/2 part) at Patti Kaisath Seth, Kurukshetra Road, Kaithal (Haryana) |
|
Date of instrument modifying the charge |
07.12.2011 |
|
Particulars of the present modification |
Enhancement of overall credit limit to Rs.1681.600 Millions (WC/CC limit from Rs.1320.000 Millions to Rs.1500.000 Millions, Stand-by-Limit Rs.10.000 Millions, Term Loan Rs.169.900 Millions, Forward Contract from Rs.1.200 Millions to Rs.1.700 Millions) |
CONTINGENT LIABILITIES
(a) Claim against the
company not acknowledged as debts
Sales tax demand created under CST Act, 1956 for following years:
F.Y.2007-08 – Rs.140.941 Millions
F.Y.2008-09 Rs.65.527 Millions
(b) Guarantees
b.1) Corporate Guarantee of Rs.57.500 Million given to Canara Bank for loan taken by AKM Foods Pvt.Ltd. By mortgaging of company's 20K 9M Land situad at patti kaisath seth, Kurukshetra Road, Kaithal
(Rs. In Millions)
|
Particulars |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
b.2) Letter of Credit (Net of Margin) |
0.250 |
0.250 |
|
(c) Other money for which the company is contingently liable |
57.815 |
0.391 |
FIXED ASSETS
- Furniture and
Fixtures
- Computer
Equipments
- Building
- Vehicles
- Plant and
Machinery
- Land
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.54.26 |
|
|
1 |
Rs.81.94 |
|
Euro |
1 |
Rs.70.21 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
28 |
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.