1. Summary Information
|
Country |
INDIA |
||
|
Company Name |
PG ELECTROPLAST LIMITED |
Principal Name 1 |
MR. PROMOD GUPTA |
|
Status |
MODERATE |
Principal Name 2 |
MR. ANURAG GUPTA |
|
Registration # |
55-119416 |
||
|
Street Address |
B-11, MAHENDRU ENCLAVE, (OPPOSITE GUJRAWALAN TOWN), NEW
DELHI – 110 033 |
||
|
Established Date |
17.03.2003 |
SIC Code |
-- |
|
Telephone# |
NOT AVAILABLE |
Business Style 1 |
MANUFACTURING |
|
Fax # |
NOT AVAILABLE |
Business Style 2 |
ASSEMBLING |
|
Homepage |
Product Name 1 |
CONSUMER ELECTRONIC COMPONENTS |
|
|
# of employees |
403 (APPROXIMATELY) |
Product Name 2 |
FINISHED PRODUCTS |
|
Paid up capital |
RS.164,143,320/- |
Product Name 3 |
-- |
|
Shareholders |
PROMOTER AND PROMOTER GROUP-65.00% PUBLIC SHAREHOLDING-35.00% |
Banking |
STATE BANK OF INDIA |
|
Public Limited Corp. |
YES |
Business Period |
10 YEARS |
|
IPO |
YES |
International Ins. |
-- |
|
Public |
YES |
Rating |
B (34) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
WHOLLY OWNED SUBSIDIARY |
-- |
DIAMOND MATTRESS COMPANY PRIVATE LIMITED |
-- |
|
Note |
-- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
913,221,000
|
Current Liabilities |
585,818,000
|
|
Inventories |
238,812,000
|
Long-term Liabilities |
775,743,000 |
|
Fixed Assets |
1,215,829,000 |
Other Liabilities |
39,124,000
|
|
Deferred Assets |
0,000 |
Total Liabilities |
1,400,685,000 |
|
Invest& other Assets |
507,082,000 |
Retained Earnings |
1,310,116,000 |
|
|
|
Net Worth |
1,474,259,000 |
|
Total Assets |
2,874,944,000 |
Total Liab. & Equity |
2,874,944,000 |
|
Total Assets (Previous Year) |
1,596,889,000 |
|
|
|
P/L Statement as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Sales |
2,218,243,000 |
Net Profit |
(86,184,000) |
|
Sales(Previous yr) |
4,240,758,000 |
Net Profit(Prev.yr) |
178,532,000 |
MIRA INFORM REPORT
|
Report Date : |
21.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
PG ELECTROPLAST LIMITED |
|
|
|
|
Registered
Office : |
B-11, Mahendru Enclave, (Opposite Gujrawalan Town), New
Delhi – 110 033 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
17.03.2003 |
|
|
|
|
Com. Reg. No.: |
55-119416 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.164.143
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L32109DL2003PLC119416 (New) U32109DL2003PLC119416 (Old) |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELP07999F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCP9321Q |
|
|
|
|
Legal Form : |
Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Subject manufactures and/or assembles a comprehensive
range of consumer electronic components and finished products such as colour television
sets and components, air conditioners sub-assemblies, DVD players, water
purifiers and Compact Fluorescent Lamps (CFL). |
|
|
|
|
No. of Employees
: |
403 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (34) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 5897000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The
company has incurred a loss in the current year. 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) |
|
|
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
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating: BB- |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
March 6, 2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating: A4 |
|
Rating Explanation |
Minimal degree of safety it carry very high credit risk. |
|
Date |
March 6, 2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office : |
B-11, Mahendru Enclave, (Opposite Gujrawalan Town), New
Delhi – 110 033, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office/ Factory 1 : |
P-4/2 to 4/6, Site-B, UPSIDC Industrial Area, Surajpur,
Greater Noida – 201 306, District Gautam Budh Nagar, Uttar Pradesh, India |
|
Tel. No.: |
91-120-2569323 |
|
Fax No.: |
91-120-2569131 |
|
|
|
|
Factory 2 : |
Khasra No.268 and 275, 15th Milestone, Roorkee
- Dehradun National Highway-73, Village: Raipur, Pargana : Bhagwanpur,
Tehsil-Roorkee, District Haridwar – 247 667, Uttrakhand, India |
|
Tel. No.: |
91-1332-232956 |
|
|
|
|
Factory 3 : |
E-14 and 15, Site-B, UPSIDC Industrial Area, Surajpur,
Greater Noida - 201 306, District Gautam Budh Nagar, Uttar Pradesh, India |
|
Tel. No.: |
91-120-2569323 |
|
Fax No.: |
91-120-2569131 |
|
|
|
|
Factory 4 : |
Plot No.A-20/2, Supa Parner MIDC Industrial Area, City -
Supa, Talika - Parner, District: Ahemednagar – 414 301, Maharashtra, India |
|
Tel. No.: |
91-2488-243343 |
DIRECTORS
As on 31.03.2012
|
Name : |
Mr. Promod Gupta |
|
Designation : |
Chairman and Managing Director |
|
Date of Birth/Age : |
23.03.1943 |
|
Qualification : |
Graduate |
|
|
|
|
Name : |
Mr. Anurag Gupta |
|
Designation : |
Executive Director (Technical) |
|
Date of Birth/Age : |
27.05.1969 |
|
Qualification : |
B.E. in Computer Engineering and Science |
|
Area of Expertise/ Senior Position Held/ Work Experience : |
He has experience of around 17 years in the field of electronics
manufacturing services. |
|
Date of Appointment : |
17.03.2003 |
|
Other Directorship : |
Kushang Technologies Limited |
|
|
|
|
Name : |
Mr. Vishal Gupta |
|
Designation : |
Executive Director (Finance) |
|
Date of Birth/Age : |
25.09.1972 |
|
Qualification : |
MBA (Finance) |
|
Area of Expertise/ Senior Position Held/ Work Experience : |
He has experience of around 17 years in the field of electronics
manufacturing services. |
|
Date of Appointment : |
01.05.2010 |
|
|
|
|
Name : |
Mr. Vikas Gupta |
|
Designation : |
Executive Director (Operation) |
|
|
|
|
Name : |
Mr. Bhawa Nand Choudhary |
|
Designation : |
Independent Director |
|
Date of Birth/Age : |
09.01.1953 |
|
Qualification : |
M. Tech (Production Management), B. Tech (Mechanical) |
|
Area of Expertise/ Senior Position Held/ Work Experience : |
He is a technocrat with over three decades experience in project
management, Manufacturing, Production activities and management. |
|
Date of Appointment : |
06.02.2012 |
|
|
|
|
Name : |
Mr. Devendra Jha |
|
Designation : |
Independent Director |
|
Date of Birth/Age : |
01.10.1954 |
|
Qualification : |
B. Tech (Civil) from IIT, Kanpur, ME (Highway), Diploma in Management |
|
Area of Expertise/ Senior Position Held/ Work Experience : |
Over 31 years of experience in Planning, Project Management and
construction of large scale Building, Township and Real Estate Projects. |
|
Date of Appointment : |
02.05.2012 |
|
|
|
|
Name : |
Mr. Ram Dayal Modi |
|
Designation : |
Independent Director |
|
Date of Birth/Age : |
30.06.1951 |
|
Qualification : |
MA (Pol. Science), Certified Associates of Indian Institute of Bankers
|
|
Area of Expertise/ Senior Position Held/ Work Experience : |
He has looked after various domains of entire Bank and Policy making
thereof. |
|
Date of Appointment : |
02.05.2012 |
|
Other Directorship : |
|
|
|
|
|
Name : |
Mr. Kailash Pati Sharma |
|
Designation : |
Independent Director |
|
Date of Birth/Age : |
10.02.1970 |
|
Qualification : |
Graduate in Science and Engineering with Electronics and
Telecommunications. |
|
Area of Expertise/ Senior Position Held/ Work Experience : |
He has a vast experience in the field of IT, ITES and Consumer
Industry |
|
Date of Appointment : |
02.05.2012 |
KEY EXECUTIVES
|
Name : |
Mr. Kuntal Kar |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.12.2012
|
Category of Shareholders |
No. of Shares |
Percentage of Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
10669332 |
65.00 |
|
|
0 |
0.00 |
|
|
10669332 |
65.00 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
10669332 |
65.00 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
44430 |
0.27 |
|
|
44430 |
0.27 |
|
|
|
|
|
|
4795627 |
29.22 |
|
|
|
|
|
|
166671 |
1.02 |
|
|
444925 |
2.71 |
|
|
293347 |
1.79 |
|
|
1974 |
0.01 |
|
|
291373 |
1.78 |
|
|
5700570 |
34.73 |
|
Total Public shareholding (B) |
5745000 |
35.00 |
|
Total (A)+(B) |
16414332 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts
have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
16414332 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject manufactures and/or assembles a comprehensive
range of consumer electronic components and finished products such as colour
television sets and components, air conditioners sub-assemblies, DVD players,
water purifiers and Compact Fluorescent Lamps (CFL). |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars
|
Unit |
2010-2011 QTY |
|
Licensed Capacity |
|
N.A. |
|
Installed Capacity
(per annum) |
|
|
|
Moulding of Plastic Components |
MT |
13056.00 |
|
Colour Television |
Nos. |
16.05 lacs |
|
Audio and Video-DVD |
Nos. |
3.00 lacs |
|
PCB Assembly-CTV |
Nos. |
6.00 lacs |
|
PCB Assembly-DVD |
Nos. |
10.00 lacs |
|
AC Sub Assembly |
Nos. |
1.80 lacs |
|
CFL Assemblies |
Nos. |
30.00 lacs |
|
PCB assemblies for CFL |
Nos. |
30.00 lacs |
PRODUCTION (NET)
|
UNIT-1, G. NOIDA |
2010-2011 |
|
|
Qty-in nos. |
|
Air Conditioner Parts |
. 1655544 |
|
Colour Television |
1015128 |
|
TV Parts |
2680801 |
|
Computer Monitor Parts |
-- |
|
Washing Machine Parts |
-- |
|
DVD parts |
147464 |
|
Water Purifier Plastic Part |
10983 |
|
Chassis including job work |
1154282 |
|
FL-BULB Parts |
59825 |
|
Telecommunication parts |
9106 |
|
|
|
|
UNIT-II AT ROORKEE |
|
|
Colour Television |
617196 |
|
DVD |
26008 |
|
CFL |
1345085 |
|
Sub assembly/assembly |
6250 |
|
|
|
|
UNIT-IV AT SUPA |
|
|
Air Conditioner Parts |
5162 |
|
Refrigerator Parts |
2720 |
UNIT-V RANJANGAON
Air
conditioner Parts in nos. 131433*
*Including
reprocessed quantity of 772
GENERAL INFORMATION
|
No. of Employees : |
403 (Approximately) |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Chitresh Gupta and Associates Chartered Accountants |
|
Address : |
U-119A, Shakarpur, New Delhi – 110 092, India |
|
|
|
|
Wholly Owned Subsidiary : |
Diamond Mattress Company Private Limited (DMCPL) |
|
|
|
|
Companies/Parties in which Key Management Personnel or their relatives
have substantial Interest/ significant influence : |
|
CAPITAL STRUCTURE
As on 31.03.2012
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 |
|
16414332 |
Equity Shares |
Rs.10/- each |
Rs.164.143
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 |
164.143 |
106.693 |
106.693 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1310.116 |
347.371 |
170.374 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1474.259 |
454.064 |
277.067 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
621.924 |
593.357 |
288.017 |
|
|
2] Unsecured Loans |
153.819 |
16.345 |
113.103 |
|
|
TOTAL BORROWING |
775.743 |
609.702 |
401.120 |
|
|
DEFERRED TAX LIABILITIES |
29.982 |
29.982 |
22.741 |
|
|
|
|
|
|
|
|
TOTAL |
2279.984 |
1093.748 |
700.928 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1215.829 |
616.035 |
317.642 |
|
|
Capital work-in-progress |
209.082 |
174.699 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
298.000 |
6.500 |
1.484 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
238.812
|
166.594 |
153.515 |
|
|
Sundry Debtors |
217.992
|
369.452 |
356.264 |
|
|
Cash & Bank Balances |
117.791
|
59.736 |
109.756 |
|
|
Other Current Assets |
29.367
|
8.485 |
0.000 |
|
|
Loans & Advances |
548.071
|
195.388 |
82.262 |
|
Total
Current Assets |
1152.033
|
799.655 |
701.797 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
353.106
|
335.872 |
320.061
|
|
|
Other Current Liabilities |
232.712
|
158.714 |
|
|
|
Provisions |
9.142
|
8.555 |
|
|
Total
Current Liabilities |
594.960
|
503.141 |
320.061 |
|
|
Net Current Assets |
557.073
|
296.514 |
381.736
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.066 |
|
|
|
|
|
|
|
|
TOTAL |
2279.984 |
1093.748 |
700.928 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations (Net) |
2218.243 |
4240.758 |
3542.941 |
|
|
|
Other Income |
41.331 |
30.046 |
15.031 |
|
|
|
TOTAL (A) |
2259.574 |
4270.804 |
3557.972 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of raw material and components consumed |
1850.520 |
3584.429 |
3153.059 |
|
|
|
Purchase of traded goods |
85.533 |
117.212 |
-- |
|
|
|
Changes in inventories of finished goods, work in progress |
(12.067) |
(4.630) |
24.940 |
|
|
|
Employee benefits expense |
116.129 |
87.324 |
44.705 |
|
|
|
Other Expenses |
152.606 |
177.645 |
-- |
|
|
|
Exceptional Items |
1.147 |
0.226 |
-- |
|
|
|
Manufacturing expenses |
-- |
-- |
116.872 |
|
|
|
Administrative Expenses |
-- |
-- |
32.676 |
|
|
|
Service Tax paid |
-- |
-- |
0.268 |
|
|
|
Preliminary expenses written off |
-- |
-- |
0.022 |
|
|
|
TOTAL (B) |
2193.869 |
3962.205 |
3372.542 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
65.705 |
308.599 |
185.430 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
106.368 |
55.565 |
43.308 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(40.663) |
253.034 |
142.122 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
45.082 |
20.678 |
13.633 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
(85.745) |
232.356 |
128.489 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.439 |
53.824 |
26.576 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
(86.184) |
178.532 |
101.913 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Plant and Machinery |
32.618 |
184.382 |
54.153 |
|
|
|
Spare Parts |
0.383 |
2.130 |
0.444 |
|
|
|
Raw Materials |
48.485 |
843.442 |
495.359 |
|
|
|
Tools and Tackles |
0.019 |
0.000 |
0.103 |
|
|
|
Software |
0.000 |
0.013 |
0.000 |
|
|
TOTAL IMPORTS |
81.505 |
1029.967 |
550.059 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(6.33) |
16.73 |
12.04 |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2012 (1st Quarter) |
30.09.2012 (2nd
Quarter) |
31.12.2012 (3rd
Quarter) |
|
Net Sales |
780.300 |
939.600 |
578.600 |
|
Total Expenditure |
776.900 |
932.900 |
571.100 |
|
PBIDT (Excl OI) |
3.400 |
6.700 |
7.500 |
|
Other Income |
18.000 |
15.800 |
13.500 |
|
Operating Profit |
21.400 |
22.500 |
21.000 |
|
Interest |
28.400 |
26.500 |
27.800 |
|
Exceptional Items |
(0.100) |
(0.100) |
0.000 |
|
PBDT |
(7.100) |
(4.000) |
(6.800) |
|
Depreciation |
20.400 |
22.300 |
22.500 |
|
Profit Before Tax |
(27.500) |
(26.400) |
(29.300) |
|
Tax |
(30.000) |
(8.000) |
0.000 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
2.500 |
(18.400) |
(29.300) |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
|
Net Profit |
2.500 |
(18.400) |
(29.300) |
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(3.81)
|
4.18 |
2.86 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(3.87)
|
5.48 |
3.63 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(3.62)
|
16.41 |
12.60 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.06)
|
0.51 |
0.46 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.53
|
1.34 |
1.45 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.94
|
1.59 |
2.19 |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
No |
|
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 |
|
Unsecured Loans |
31.03.2012 (Rs. in Millions) |
31.03.2011 (Rs. in Millions) |
|
LONG TERM BORROWINGS |
|
|
|
Unsecured Loans
from Directors |
59.300 |
0.749 |
|
Deferred Payment
against Land |
3.888 |
0.642 |
|
SHORT TERM BORROWINGS |
|
|
|
Bill discounting from Banks: |
|
|
|
- HDFC Bank |
38.325 |
0.000 |
|
- Standard
Chartered Bank |
23.772 |
14.954 |
|
Unsecured loans
from Directors |
28.534 |
0.000 |
|
Total |
153.819 |
16.345 |
Note:
The registered office of the company has been shifted from 14/39, Shakti Nagar, New Delhi – 110 007 to the present address.
BUSINESS OPERATIONS:
During the financial years 2011-12, on standalone basis, the company achieved gross revenue of Rs.2259.500 millions and EBIT stands to Rs.20.600 millions. During the year the Company incurred losses post taxes amounting to Rs.86.100 millions. Major reasons for losses were on account of (a) Increase in Finance Cost, (b) Increase in Depreciation, (c) Net Exchange difference due to erosion of value of domestic currency against the dollar currency and (d) Undersized performance of newly established manufacturing units because of lack of orders due to recessive global economic conditions. With the continuous support they are looking forward for better performance in upcoming years.
MANAGEMENT DISCUSSION
AND ANALYSIS:
Business Outlook
The global consumer electronics market grew by 4.7% in 2011 to reach a value of $284.09 billion. In 2016, the global consumer electronics market Is supposed to have a value of $343.36 billion, an Increase of 20.9% since 2011. India is a net importer of electronics goods, which however has declined in FY 2011 from the previous year.
Manufacturing has been recognised as the main engine for economic growth and an ambitious target of taking the share of ICT and electronic hardware manufacturing to around 20% by 2025 has been set by National Manufacturing Policy. Being the world's second largest populated country coupled with robust growth, India would remain one of the largest consumers of electronics globally.
Indian Electronics Industry Is a high growth Industry which is attracting global attention as apart from growing market, It also has the potential to deliver high quality products at a lower cost than Its western counterparts. Sensing vast opportunity, this has led to many global players setting up their production base In the country.
While on the one hand global economic turmoil has precipitated a slowdown in investment across the board, factors such as strong consumer spending habit and the need to use more of consumer durable items in tiers cities and towns will continue to drive considerable positive momentum in the sector. The major growth factors are a) rising disposable income coupled with increasing consumer exposure, b) increase of manufacturing in the local grounds, c) increased reach due to better network distribution, d) advent of new technologies, increasing, expenditure by companies on electronic products and several government initiatives coupled with favourable population, e) use of electronic products to augment production/other activity by automation process has been resulting In more and more companies adopting the newer technology and f) Government Initiatives for better e-governance through effective administration can be achieved through the use of technology.
PGEL OUTLOOK AND OPPORTUNITIES
Looking ahead the key growth factors are stronger than ever, increasing population and urbanization will drive rapid growth in electronics consumption of TVs, laptops, washing machines and CFLs. They believe the key to future competitiveness and growth lies in providing highly cost competitive solutions. The management team has laid out clear plans to address key priorities this year, namely 1) reducing interest cost; 2) reducing working capital intensity; 3) maintain total focus on timely delivery, quality, health and safety; 4) adding new products to its existing product profile; 5) entering into new industry segment. The company has started supplying to auto sector also. With these focus areas, the management team believes that the Company is ideally positioned to resume its growth trajectory and deliver significant value to their stakeholders.
REVENUE FROM OPERATIONS:
During the year, the Company achieved revenue from operations of Rs.2218.200 millions, it was Rs.4240.700 millions for the year ended 31st March, 2011. The decrease In revenue was mainly on account of no new tender base business received by the company.
COMPANY PROFILE:
Subject is an Electronic Manufacturing Services (EMS) provider for Original Equipment Manufacturers (OEMs) of consumer electronic products in India. The company manufactures and/or assembles a comprehensive range of consumer electronic components and finished products such as colour television sets and components, air conditioners sub-assemblies, DVD players, water purifiers and CFL for third parties for third parties. They also do plastic injection moulding and manufacture Printed Circuit Boards (PCB) assemblies as backward integration. The company has four operational manufacturing facilities located at Greater Noida in Uttar Pradesh (Unit I and Unit III), at Roorkee in Uttarakhand (Unit II) and at Ahmednagar in Maharashtra (Unit IV). Subject was incorporated on March 17, 2003 as a private limited company with the name PG Electroplast Private Limited During the year 2002-03, the company set up Unit I at Greater Noida with a capacity of 1,574 tonnes p.a. for plastic injection moulding. During the year 2003-04, they increased the plastic injection moulding capacity of Unit I, Greater Noida to 3,703 tonnes p.a. During the year 2005-06, they further increased the plastic injection moulding capacity of Unit I, Greater Noida to 4,244 tonnes p.a. Also, they received ISO 9001:2000 certification for Unit I, Greater Noida. During the year 2007-08, the company set up PCB assembly line for DVDs with a capacity of 10,00,000 pieces at Unit I, Greater Noida. Also, they set up assembly line for DVDs with a capacity of 3,00,000 pieces and assembly line for CTVs with a capacity of 96,000 pieces at Roorkee. During the year 2008-09, the company increased the plastic injection moulding capacity of Unit I, Greater Noida to 4,495 tonnes p.a. They set up assembly line for CTVs with a capacity of 10,05,000 sets at Unit I, Greater Noida. Also, they increased the capacity of CTV assembly line at Roorkee to 6,00,000 pieces. During the year 2009-10, the company increased the plastic injection moulding capacity of Unit I, Greater Noida to 6,577 tonnes p.a. Also, they set up PCB assembly line for CTVs with a capacity of 6,00,000 pieces at Unit I, Greater Noida. During the year 2010-11, the company set up CFL assembly line with a capacity of 150,00,000 pieces at Unit II and PCB assembly line for CFL with a capacity of 300,00,000 pieces p.a. at Unit I. Also, they received ISO 9001:2008 certification for Unit II, Roorkee. In July 15, 2010, the company was converted into public limited company and the name was changed to PG Electroplast Limited in August 5, 2010, the company entered into an agreement for project management with LCI Engineering Ing. Christoff Langthaler GmbH for preparation of a detailed analysis of the possibilities to supply components to the automotive industry. In March 2011, the company set up manufacturing units for plastic injection moulding at Unit IV, Ahmednagar under Phase I and commenced commercial production. During the year 2011-12, the company received ISO 9001:2008 certification for Unit III, Greater Noida. In July 2011, they set up manufacturing units for plastic injection moulding at Unit III, Greater Noida under Phase I and commenced commercial production. Also, they launched a new product 'Water Purifier' in the market. The company intends expand Unit III and Unit IV by increasing the installed capacity of plastic injection moulding to 5,000 tonnes p.a. and 8,000 tonnes p.a. respectively under Phase II. They intend to extend their product offerings by adding set top boxes, certain automotive components, components for refrigerators, washing machines, and microwave ovens in addition to manufacturing of water purifiers and LCD TVs in their product portfolio.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2012 (Rs. in millions) |
31.03.2011 (Rs. in millions) |
|
Contingent liability (to the extent not
provided for) |
|
|
|
Claims against
the company not acknowledged as debts |
|
|
|
a) Sales Tax
Demand (FY 2006-07) |
0.000 |
3.556 |
|
b) Central Excise
(FY 2006-07) |
0.017 |
0.017 |
|
c) Income Tax (FY
2006-07) |
0.000 |
0.056 |
|
d) Income Tax (FY
2006-07-2010-11) |
3.655 |
0.000 |
|
Bank Guarantees
given to Customers |
|
|
|
a) Bank
Guarantees given in favour of LG Electronics (Private) Limited |
1.000 |
1.000 |
|
b) Bank Guarantee
for ELCOT |
103.171 |
149.445 |
|
Bank Guarantee
given to BSE |
6.032 |
0.000 |
|
LC Utilised
Limits-Acceptances not given |
6.432 |
7.463 |
|
Total |
120.307 |
161.537 |
STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE
QUARTER AND NINE MONTHS ENDED 31.12.2012
(Rs. in millions)
|
Particulars |
Quarter Ended |
Year to date
figures for nine months ended |
|
|
31.12.2012 |
30.09.2012 |
31.12.2012 |
|
|
(Unaudited) |
(Unaudited) |
(Unaudited) |
|
|
1.
Income from Operations |
|
|
|
|
(a)
Net Sales/Income from Operations (Net of excise duty) |
576.375 |
938.720 |
2294.731 |
|
(b)
Other Operating Income |
2.244 |
0.864 |
3.757 |
|
Total
income from Operations (net) |
578.619 |
939.584 |
2298.488 |
|
2.
Expenses |
|
|
|
|
(a)
Cost of Materials consumed |
464.826 |
832.975 |
1980.868 |
|
(b)
Purchase of stock-in-trade |
23.019 |
20.826 |
56.512 |
|
(c)
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
9.455 |
(8.433) |
3.848 |
|
(d)
Employee benefits expense |
38.720 |
42.796 |
119.591 |
|
(e)
Depreciation and amortisation expense |
22.521 |
22.326 |
65.259 |
|
(f)
Other expenses |
35.067 |
44.729 |
120.087 |
|
Total
Expenses |
593.608 |
955.218 |
2346.165 |
|
3.
Profit / (Loss) from operations before other income, finance costs and
exceptional items (1-2) |
(14.989) |
(15.634) |
(47.677) |
|
4.
Other Income |
13.451 |
15.794 |
47.253 |
|
5. Profit / (Loss) from ordinary activities before finance
costs and exceptional items (3 +/- 4) |
(1.538) |
0.159 |
(0.424) |
|
6.
Finance Costs |
27.775 |
26.451 |
82.591 |
|
7. Profit / (Loss) from ordinary activities after finance
costs but before exceptional items (5 +/- 6) |
(29.313) |
(26.292) |
(83.015) |
|
8.
Exceptional Items |
0.002 |
0.055 |
0.143 |
|
9.
Profit / (Loss) from ordinary activities before tax (7
+/_ 8) |
(29.315) |
(26.347) |
(83.158) |
|
10.
Tax expense |
-- |
(8.000) |
(37.983) |
|
11.Net
Profit / (Loss) from ordinary activities after tax (9 +/- 10) |
(29.315) |
(18.347) |
(45.175) |
|
12.
Extraordinary items (net of tax expense) |
-- |
-- |
-- |
|
13.
Net Profit / (Loss) for the period (11 + 12) |
(29.315) |
(18.347) |
(45.175) |
|
14.
Paid-up Equity Share Capital (Face Value Rs. 10 each) |
164.143 |
164.143 |
164.143 |
|
15.
Reserve excluding Revaluation Reserves as per balance sheet of previous accounting
year |
-- |
-- |
-- |
|
17. Earnings Per Share (Face Value Rs. 10 each) i.
before
extraordinary items (not annualised) |
|
|
|
|
(a) Basic |
(1.79) |
(1.12) |
(2.75) |
|
(b)
Diluted |
(1.79) |
(1.12) |
(2.75) |
|
ii.
after
extraordinary Items (not annualised) |
|
|
|
|
(a)
Basic |
(1.79) |
(1.12) |
(2.75) |
|
(b)
Diluted |
(1.79) |
(1.12) |
(2.75) |
|
Public
shareholding |
|
|
|
|
Number of shares |
5745000 |
5745000 |
5745000 |
|
Percentage of
shareholding |
35.00% |
35.00% |
35.00% |
|
Promoters and
Promoters group Shareholding- |
|
|
|
|
a) Pledged
/Encumbered |
|
|
|
|
Number of shares |
Nil |
Nil |
Nil |
|
Percentage of shares (as a % of total shareholding of the promoter and
promoter group) |
Nil |
Nil |
Nil |
|
Percentage of shares (as a % of total share capital of the company) |
Nil |
Nil |
Nil |
|
b) Non Encumbered |
|
|
|
|
Number of shares |
10669332 |
10669332 |
10669332 |
|
Percentage of shares (as a % of total shareholding of the promoter and
promoter group) |
100.00% |
100.00% |
100.00% |
|
Percentage of shares (as a % of total share capital of the company) |
65.00% |
65.00% |
65.00% |
INVESTORS COMPLAINTS
|
Particulars
|
Quarter ended 31.12.2012 |
|
Pending at the beginning of the |
Nil |
|
Received during the Quarter |
Nil |
|
Disposed of during the Quarter |
Nil |
|
Remaining unsolved during the Quarter |
Nil |
FIXED ASSETS:
Tangible Assets
· Land-Leasehold
· Buildings
· Plant and Machinery
· Electric Installation
· Furniture and Fixtures
· Vehicles
· Office Equipment
Intangible Assets
· Product Development
· Computer Software
WEBSITE DETAILS:
HISTORY
Their Company was incorporated on March 17, 2003 as PG Electroplast Private Limited under the Companies Act, 1956. Subsequently, pursuant to a special resolution passed at the meeting of the shareholders of their Company at an Extraordinary General Meeting held on July 15 2010, their Company became a public limited company and the word ‘private’ was deleted from their name. The fresh certificate of incorporation to reflect the new name was issued by the RoC on August 6, 2010.
Their Company is a part of the PG Group, promoted by their Chairman and Managing Director, Mr. Promod Gupta. The history of PG Group dates back to 1977, when Mr. Promod Gupta started dealing in and making radio transistors, receivers and black and white television components at his residence. This was the time when black and white TV components were being imported and supplied to old brands such as Beltek, Televista, Singer, Weston and Crown. He setup his first factory at Delhi in 1981-82, at a time when few renowned brands were making their way to the Indian market. He continued making TV components till the year 1989, before approaching these OEMs for making the entire black and white TV set on contract manufacturing basis. Later, the PG Group also started making CTVs for regional brands. In 1996, it setup its second factory at Noida, followed by a third factory at Bhopal, Madhya Pradesh in 1997. In 1999, the PG Group entered into backward integration by setting up a PCB assembly line at Noida. It then setup another factory at Mohali for assembling VCD/DVD players in 2001. It again entered into backward integration in 2003, with foray into plastic injection moulding. This made the PG Group, an integrated player in the electronic consumer market, with the capability to do plastic injection moulding, PCB assembly and final integration of the products. He then incorporated their Company with the establishment of Unit I at Greater Noida in 2002-03, Unit-II at Roorkee in 2007-08 and later with Unit-III at Greater Noida and Unit-IV at Ahmednagar (Maharastra) in 2010-11.
THEIR PROMOTERS
Mr. Promod Gupta, aged 69 years is the Chairman and Managing Director and also one of the promoters of their Company. He obtained his Bachelor of Engineering from The Birla Institute of Technoogy and Science (BITS, Pilani) in 1966, Post-graduate Diploma in Marketing and Sales Management from Faculty of Management Sciences, Delhi University in 1977 and elected Fellow of The Insititution of Electronics and Telecommunication Engineers (FIETE) in 1984. He is a first generation entrepreanour; with an overall experience of over 42 years, including more than 35 years in the field of electronic manufacturing services. He was previously employed as a senior scientist in Semiconductior Devices Division of Defence Research and Development Organisation (DRDO) (formerly known as Solid State Physics Labarotory), where he worked for 13 years from 1966 to 1978, on the development of semiconductor devices and their testing for use in various defence systems and installation. He is responsible for the management of the overall operations of their Company and to identify, develop and direct the implementation of business strategies.
Mr. Anurag Gupta, aged 42 years is Executive Director – Technical and also one of the promoters of their Company. He did his Bachelors of Electronics in Computer Engineering and Science from M.S.Ramaiah Institute of Technology, Bangalore University in 1991. He has an overall experience of 18 years in the field of electronic manufacturing services. In 1992, he joined M/s PG Electronics (a partnership firm in the Promoter Group) as a Partner, where he was responsible for manufacturing of TV components. In 1999, he joined Kushang Technologies Limited (formerly Kushang Apparels Limited) as a director, where he was responsible for all technical functions of the firm. He joined their Company as Promoter Director in 2003 and became Executive Director – Technical in 2010. His responsibilities in their Company include development and implementation of all technical policies and procedures including all associated production and post-production services, monitoring of plant and machineries required for production and quality assurance and technology upgradation as and when required, executing research and development activities, establishing and supervising operations and maintenance routines (preventive, general and emergency) and ensuring strict adherence to their quality assurance policy.
Mr. Vishal Gupta, aged 39 years is Executive Director – Finance and also one of the promoters of their Company. He did his Masters in Business Administration from the University of Pune in 1995 and B.Com (Hons.) from Delhi University in 1993. He has an overall experience of 16 years in the field of electronic manufacturing services. He started his career with Astrotech International, one of their Promoter Group Companies, in the year 1995. There, he was responsible for overseeing the financial, commercial and marketing aspects of the company. Later, in the year 2000, he joined Bigesto Technologies Limited (formerly Bigesto Foods Limited) as a Director, responsible for financial, accounting and commercial aspects of the business. He joined their Company as Executive Director – Finance in the year 2010. His responsibilities in their Company include overseeing the financial, accounting and general management of their Company including budgeting and planning the financial requirements, human resource requirements, administration and secretarial compliances.
Mr. Vikas Gupta, aged 39 years is Executive Director – Operations and also one of the promoters of their Company. He did his Master in Business Administration from the University of Pune in 1995 and B.Com (Hons.) from Delhi University in 1993. He has an overall experience of 16 years in the field of electronic manufacturing services. He started his career with PG Electronic Components Private Limited, one of their ersthile Promoter Group Companies, in the year 1995. There, he was responsible for overseeing the production / manufacturing of PCB assemblies and electronic TV components. Later, in the year 1999, he joined Bigesto Technologies Limited (formerly Bigesto Foods Limited) as a Director, responsible for manufacturing and marketing operations of the company. He joined their Company as Executive Director – Operations in the year 2010. He oversees the entire production and marketing operations of their Company. His responsibilities include ensuring functions that can deliver products and services to customers in an efficient, timely and cost efficient manner and managing and increasing the efficiency of operational support services.
AWARDS AND
RECOGNITION
Their Company has been awarded for excellence and performance by their customers and other industry associations.
· 3rd prize in Business Partners Excellence Award, 2004, in the moulding category by LG Electronics India Private Limited
· Business Partners Excellence Award, 2005, for innovation and six sigma by LG Electronics India Private Limited
· Business Partners Excellence Award, Q1 2006, in the moulding category by LG Electronics India Private Limited
· Business Partners Excellence Award, Q2 2006, for best improvement in quality by LG Electronics India Private Limited
· “Q” Achiever Award, 2006-07, by MIRC Electronics Limited
· Excellence Award, Q2 2007, for best performance in Q, C, D in Molding category by LG Electronics India Private Limited
· Excellence Award, 2008, for best performance in Q, C, D in Molding category by LG Electronics India Private Limited
· FEPS Implementation Award, H1 2009, by LG Electronics India Private Limited
· Best Quality Award, Q3 2009, by LG Electronics India Private Limited
· Certificate of Participation for DOL TDR Activity in Q4 2009 by LG Electronics India Private Limited
· Best Innovation Award for ILO Support activity in Q2 2010 by LG Electronics India Private Limited
· Appreciation award for achieving Level 2 in Leveled Production by LG Electronics India Private Limited
Further, their management has been awarded for the following achievements:
· Their Chairman and Managing Director, Mr. Promod Gupta alongwith others, has received Certificate of Award from National Research Development Corporation of India for their invention entitled ‘Semiconductor Strain Gauges’ in 1982.
In addition, their Company is also member of industry bodies like Electronic Industries Association of India (ELCINA), Consumer Electronics and Appliances Manufacturers Association (CEAMA) and Electronics and Computer Software Export Promotion Council (ESC).
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.37 |
|
|
1 |
Rs.82.07 |
|
Euro |
1 |
Rs.70.04 |
INFORMATION DETAILS
|
Report Prepared
by : |
SMN |
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 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
34 |
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.