MIRA INFORM REPORT
|
Report Date : |
29.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
JINDAL PIPES LIMITED |
|
|
|
|
Registered
Office : |
22nd Mile Delhi- Hapur Road, PO Jindal Nagar,
Ghaziabad-201302, Uttar Pradesh |
|
|
|
|
Country : |
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|
|
|
Financials (as
on) : |
31.03.2012 (Profit and Loss Account) |
|
|
|
|
Date of
Incorporation : |
07.05.1970 |
|
|
|
|
Com. Reg. No.: |
20-020637 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.187.452
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27101UP1970PLC020637 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACJ2055K |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Steel Pipes and Tubes. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 12000000 |
|
|
|
|
Status : |
Good |
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|
|
|
Payment Behaviour : |
Regular |
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|
|
Litigation : |
Clear |
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|
Comments : |
Subject is a well established and reputed company having a fine track
record. Financial position of the company appears to be sound. Directors are reported
as experienced and respectable businessmen. Trade relations are reported as
trustworthy. Business is active. Payments are reported to be regular and as
per commitments. The company can be considered good for normal business dealings at
usual trade terms and conditions. The Balance Sheet for year 2012 is not available only Profit and Loss
Account is available |
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 : CRISIL A+ |
|
Rating Explanation |
Adequate degree of safety and low credit risk |
|
Date |
06.08.2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
SHORT TERM RATING : CRISIL A1+ |
|
Rating Explanation |
Very strong degree of safety and lowest credit risk. |
|
Date |
06.08.2012 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office/ Factory : |
22nd Mile Delhi- Hapur Road, PO Jindal Nagar, Ghaziabad-201302,
Uttar Pradesh, India |
|
Tel. No.: |
91-120-2677601/ 605 |
|
Fax No.: |
91-120-2677703 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Centre : |
Plot No. 30, Institutional Sector-44, Gurgaon-122002, Haryana, India |
|
Tel. No.: |
91-124-2574325/ 26/ 4624000 |
|
Fax No.: |
91-124-2574327 |
|
E-Mail : |
|
|
|
|
|
Factory 2 : |
Located at: Delhi Road, Hissar-125005, India |
|
|
|
|
Branch Office : |
Located at:
|
DIRECTORS
(AS ON 21.09.2012)
|
Name : |
Mr. Dharam Pal Jindal |
|
Designation : |
Director |
|
Address : |
B-57, Greater Kailash Part-I, New Delhi-110048, India |
|
Date of Birth/Age : |
15.02.1950 |
|
Date of Appointment : |
07.11.2012 |
|
DIN No.: |
00405579 |
|
|
|
|
Name : |
Mr. Raghav Jindal |
|
Designation : |
Managing Director |
|
Address : |
B-57, Greater Kailash Part-I, New Delhi-110048, India |
|
Date of Birth/Age : |
11.01.1980 |
|
Date of Appointment : |
01.02.2005 |
|
DIN No.: |
00405984 |
|
|
|
|
Name : |
Mr. Suresh Baid |
|
Designation : |
Director |
|
Address : |
91, Sainik Vihar, Pitampura, New Delhi, India |
|
Date of Birth/Age : |
11.09.1954 |
|
Date of Appointment : |
01.01.2009 |
|
DIN No.: |
00030585 |
|
|
|
|
Name : |
Mr. Saket Jindal |
|
Designation : |
Director |
|
Address : |
B-57, Greater Kailash Part-I, New Delhi-110048, India |
|
Date of Birth/Age : |
09.08.1974 |
|
Date of Appointment : |
25.03.2009 |
|
DIN No.: |
00405736 |
|
|
|
|
Name : |
Mr. Vinod Kumar Aggarwal |
|
Designation : |
Director |
|
Address : |
3/37, Punjabi Bagh, New Delhi – 110026, India |
|
Date of Birth/Age : |
19.10.1961 |
|
Date of Appointment : |
27.06.2011 |
|
DIN No.: |
00375239 |
KEY EXECUTIVES
|
Name : |
Mr. Anand Garg |
|
Designation : |
Secretary |
|
Address : |
H. No. 1331, First Floor, Sector-45, Gurgaon-122001, Haryana, India |
|
Date of Birth/Age : |
26.10.1970 |
|
Date of Appointment : |
20.09.2007 |
|
PAN No.: |
AGFPG1472R |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 21.09.2012)
|
Names of Shareholders |
|
No. of Shares |
|
Dharam Pal Jindal (HUF) |
|
1290000 |
|
Dharam Pal Jindal |
|
58800 |
|
Saket Jindal |
|
1860000 |
|
Raghav Jindal |
|
1906820 |
|
Savita Jindal |
|
1062000 |
|
Crispark Vincom Limited, West Bengal, India |
|
1560000 |
|
Sudha Apparels Limited, West Bengal, India |
|
3741740 |
|
Dytop Commodeal Limited, West Bengal, India |
|
3738200 |
|
Jindal Global Financa and Inv. Limited, West Bengal, Indi |
|
3527640 |
|
Total |
|
18745200 |
Equity Share Breakup (Percentage of Total Equity)
(AS ON 21.09.2012)
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
67.04 |
|
Directors or relatives of directors |
|
32.96 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Steel Pipes and Tubes. |
||||
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||||
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Products : |
|
PRODUCTION STATUS (AS ON 31.03.2010)
|
Particulars |
Unit |
|
Installed
Capacity (Annual) |
Actual
Production |
|
Steel Pipes and Tubes Including Sockets |
MT |
|
250,000 |
154,595 |
GENERAL INFORMATION
|
Customers : |
|
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||||||||||||
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No. of Employees : |
Not Available |
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Bankers : |
|
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Facilities : |
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Banking
Relations : |
-- |
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|
Auditors : |
|
|
Name : |
Kanodia Sanyal and Associates Chartered Accountant |
|
Address : |
1520, Ansal Tower, 38, Nehru Place, New Delhi-110019, India |
|
PAN No.: |
AAAFK8020A |
|
|
|
|
Associates/Subsidiaries : |
Jindal Hydrocarbon Limited CIN No.: U11101DL2009PLC193022 |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000000 |
Equity Share |
Rs. 10/- each |
Rs. 300.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
18745200 |
Equity Share |
Rs. 10/- each |
Rs. 187.452
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
187.452 |
187.452 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
2719.240 |
2501.176 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
2906.692 |
2688.628 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
189.576 |
107.741 |
|
|
2] Unsecured Loans |
|
822.356 |
39.188 |
|
|
TOTAL BORROWING |
|
1011.932 |
146.929 |
|
|
DEFERRED TAX LIABILITIES |
|
48.493 |
47.194 |
|
|
|
|
|
|
|
|
TOTAL |
|
3967.117 |
2882.751 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
1357.877 |
1367.592 |
|
|
Capital work-in-progress |
|
419.009 |
54.380 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
142.101 |
276.327 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
1607.874
|
964.765
|
|
|
Sundry Debtors |
|
550.601
|
466.853
|
|
|
Cash & Bank Balances |
|
44.732
|
62.073
|
|
|
Other Current Assets |
|
0.000
|
0.000
|
|
|
Loans & Advances |
|
1189.552
|
681.669
|
|
Total
Current Assets |
|
3392.759
|
2175.360
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
440.707
|
262.438
|
|
|
Other Current Liabilities |
|
343.624
|
308.111
|
|
|
Provisions |
|
560.298
|
420.359
|
|
Total
Current Liabilities |
|
1344.629
|
990.908
|
|
|
Net Current Assets |
|
2048.130
|
1184.452
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
3967.117 |
2882.751 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
8751.528 |
5961.121 |
6198.206 |
|
|
|
Other Income |
46.990 |
65.182 |
58.816 |
|
|
|
TOTAL (A) |
8798.518 |
6026.303 |
6257.022 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
6490.726 |
4744.199 |
|
|
|
|
Purchases of stock-in-trade |
1431.880 |
480.595 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(184.060) |
(349.059) |
|
|
|
|
Employee benefit expense |
126.031 |
108.804 |
|
|
|
|
Other expenses |
813.936 |
563.195 |
|
|
|
|
TOTAL (B) |
8678.513 |
5547.734 |
5810.456 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
120.005 |
478.569 |
446.566 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
76.045 |
34.675 |
12.670 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
43.960 |
443.894 |
433.896 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
33.987 |
18.995 |
17.797 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
9.973 |
424.899 |
416.099 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
72.059 |
141.298 |
144.581 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
(62.086) |
283.601 |
271.518 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
NA |
25.162 |
|
|
TOTAL EARNINGS |
NA |
NA |
25.162 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Stores & Spares |
NA |
NA |
1.381 |
|
|
TOTAL IMPORTS |
NA |
NA |
1.381 |
|
|
|
|
|
|
|
|
|
|
Basic/ Diluted
Earnings Per Share (Rs.) |
(3.00) |
15.00 |
14.48 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(0.71)
|
4.71 |
4.34 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.11
|
7.13 |
6.71 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
8.94 |
11.74 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.15 |
0.15 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
NA
|
0.35 |
0.05 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
NA
|
2.52 |
2.20 |
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 |
Yes |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
DETAILS OF
UNSECURED LOANS
(Rs.
In Millions)
|
Particulars |
|
31.03.2011 |
|
Working Capital from Banks |
|
4.935 |
|
Working Capital from Others |
|
779.141 |
|
Public Deposits |
|
38.130 |
|
Others Debts |
|
0.150 |
|
Total |
|
822.356 |
OPERATIONS (AS ON
31.03.2011)
The Gross Turnover of the Company during the year was Rs.6617.300 Millions against Rs.6757.500 Millions in the previous year. Profit before tax for the year was Rs.424.900 Millions as against Rs.416.100 Millions in the previous year and profit after tax and adjustments was Rs.283.600 Millions as against Rs.271.500 Millions in the previous year.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity number of the company |
U27101UP1970PLC020637 |
|
Name of the company |
JINDAL PIPES LIMITED |
|
Address of the registered office or of the principal place of business in India of the company |
22nd Mile Delhi- Hapur Road, PO Jindal Nagar, Ghaziabad-201302, Uttar Pradesh, India E-mail Id : contact@jindalpipe.com |
|
This form is for |
Creation of charge |
|
Type of charge |
Book Debts Movable Property Others (1st paripassu charge on current assets and 2nd paripassu charge on movable Fixed assets) |
|
Particular of charge holder |
State Bank of Bikaner and Jaipur, G-72, Cannaught Circus, New Delhi-110001, India Email: sbbj10016@sbbj.co.in |
|
Nature of instrument creating charge |
Agreement of hypothecation of goods and assets |
|
Date of instrument Creating the charge |
13.03.2012 |
|
Amount secured by the charge |
Rs.447.500 Millions |
|
Brief of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Rate of interest @3.25% above base rate present effective rate is 13.75% p.a. (floating) Terms of Repayment Payable on demand Margin Raw Mater - 25% Stock-In-Process - 30% Finished Goods - 30% Stores and Consumable Spares - 40% Book Debts/Receivables - 40% Extent and Operation of the charge First pari passu charge over current assets. Second pari passu charge over movable fixed assets. Others The above is to secure the following:- CC (Hypothecation) = Rs.67.500 Millions LCs = Rs.270.000 Millions BGs = Rs.110.000 Millions |
|
Short particulars of the property or asset(s) charged (including complete address and location of the property) |
Hypothecation by way of frist pari passu charge over all present and future current assets and second pari passu charge over all present and future movable fixed assets of the company. Stored or to be stored at the company's godows or premises or wherever else the same may be. |
FIXED ASSETS:
- Land Freehold
- Building
- Shed and Building
- Trade Mark
- Plant and
Machinery
- Furniture and
Fixture
- Vehicles
- Office
Equipments
- Computer
AS PER WEBSITE:
PROFILE:
Subject
was incorporated in 1970 with a production capacity of 3,000 TPA for manufacturing
of Steel Pipes and Tubes. Since then, the Company has brought phenomenal
development in Pipe Manufacturing Process through many innovative measures.
Today, it has an annual turn over of Approx. Rs.7000.000 Millions. Induction of
sophisticated state-of-the-art technical know-how and highly motivated and
skilled workforce have made possible for the company to augment its production
capacity to 2,50,000 TPA.
It
is now synonymous with India's one of the best and largest manufacturer of ERW,
Black and Galvanized Steel Pipes and Tubes in different thickness from 2.00 mm
to 10.00 mm having an Outer Diameter (OD) ranging from 1/2" to 14" NB
conforming to various National and International Standards.
Recently
the company has started manufacturing of RHS and SHS Pipes of various sizes
which are used for various applications i.e. Architectural and Industrial.
The
company received 'Regional Special Shield' for export performance for the year
1977-78 and from 1984 to 1988. It was also awarded the 'Certificate for
Export Excellence 1990-91' by the EEPC.
True
to D.P. Jindal Group's way of life, quality is at the helm of affairs as a
perpetual phenomenon. It is the constant
endeavor to produce pipes of highest quality and sustainability. To achieve
this, they stick to strict quality standards and in-house evaluations and they
continuously educate and train the
workers.
the plant have been constantly executing need
based and demanding orders for Pipes to meet the requirements of sectors like
Agriculture, Oil, Public Health, Housing, Irrigation, Engineering etc.
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.54.39 |
|
|
1 |
Rs.82.32 |
|
Euro |
1 |
Rs.69.54 |
INFORMATION DETAILS
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
54 |
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.