MIRA INFORM REPORT
|
Report Date : |
30.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
MAKSTEEL WIRE HEALDS PRIVATE LIMITED |
|
|
|
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Registered
Office : |
880/1/2/3/4, GIDC Makarpura, Vadodara – 390010, Gujarat |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
20.03.1995 |
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|
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Com. Reg. No.: |
04-025074 |
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Capital
Investment / Paid-up Capital : |
Rs. 5.000 Millions |
|
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|
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CIN No.: [Company Identification
No.] |
U28999GJ1995PTC025074 |
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|
|
Legal Form : |
Private Limited Liability Company |
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|
Line of Business
: |
Manufacturer and Exporter of Textile Wearing Machine Accessories and
its Parts. |
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|
|
|
No. of Employees
: |
125 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 200000 |
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject was established as a proprietory concern during 1980 by the name
‘Maksteel Fabricators’ and during 1995 it got converted into a private
limited company. It is an established company having a satisfactory track record. It enjoys comfortable financial risk profile. Trade relations are reported as decent. Business is active. Payment
terms are usually correct. The company can be considered for business dealings at usual trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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: BB- |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
20.02.2013 |
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.
INFORMATION PARTED BY
|
Name : |
Mr. Shailesh Darji |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-9978938804 |
|
Date : |
29.03.2013 |
LOCATIONS
|
Registered Office/ Factory : |
880/1/2/3/4, GIDC Makarpura, Vadodara – 390010, Gujarat, India |
|
Tel. No.: |
91-265-2637236 |
|
Mobile No.: |
91-9898561508 (Mr. Arpit Ramesh Sidhpura) 91-9978938804 (Mr. Shailesh Darji) |
|
Fax No.: |
91-265-2638752 |
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E-Mail : |
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|
Website : |
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|
Area : |
100000 Sq. ft. |
|
Location : |
Owned |
DIRECTORS
As on: 29.09.2012
|
Name : |
Mr. Rameshbhai Laljibhai Sidhpura |
|
Designation : |
Whole-time director |
|
Address : |
A-48, Shrijidham Housing Complex, Deep Chamber Road, Manjalpur, Baroda
– 390011, Gujarat, India |
|
Date of Birth/Age : |
18.07.1953 |
|
Date of Appointment : |
20.03.1995 |
|
DIN No.: |
01304548 |
|
|
|
|
Name : |
Ms. Shobhanaben Ramesh Sidhpura |
|
Designation : |
Whole-time director |
|
Address : |
A-48, Shrijidham Society, Deep Chamber Road, Manjalpur, Baroda –
390011, Gujarat, India |
|
Date of Birth/Age : |
24.05.1959 |
|
Date of Appointment : |
20.03.1995 |
|
DIN No.: |
01339223 |
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|
|
|
Name : |
Mr. Arpit Ramesh Sidhpura |
|
Designation : |
Director |
|
Address : |
48-A, Shrijidham Housing Complex, Deep Chamber Road, Manjalpur, Baroda
– 390011, Gujarat, India |
|
Date of Birth/Age : |
31.08.1991 |
|
Date of Appointment : |
01.10.2009 |
|
DIN No.: |
02998356 |
KEY EXECUTIVES
|
Name : |
Mr. Shailesh Darji |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Rameshbhai Laljibhai Sidhpura |
|
330000 |
|
Shobhanaben Ramesh Sidhpura |
|
159000 |
|
Arpit Ramesh Sidhpura |
|
11000 |
|
Total |
|
500000 |
Equity Share Break up (Percentage of Total Equity)
As on: 29.09.2012
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Textile Wearing Machine Accessories and
its Parts. |
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|
|
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Exports : |
|
|
Products : |
Textile Wearing Machine Accessories and its Parts. |
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Countries : |
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Imports : |
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Products : |
Raw material |
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Countries : |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS AS ON 31.03.2011
|
Particulars |
|
Unit |
Installed
Capacity |
Actual
Production |
|
Wire Healds and Drop Wire |
|
Nos |
800 |
504.89 |
GENERAL INFORMATION
|
Customers : |
End Users
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No. of Employees : |
125 (Approximately) |
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Bankers : |
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
J. M. Pabari and Associates Chartered Accountant |
|
Address : |
302, Helix Complex, Opposite Hotel Surya, Sayajigunj, Vadodara –
390005, Gujarat, India |
|
Tel. No.: |
91-265-2225171/ 2225172/ 6625172 |
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Mobile No.: |
91-9825670560 |
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E-Mail : |
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PAN.: |
ACPPP2581C |
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Associates : |
Satyam Industries |
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs. 5.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs. 5.000
Millions |
|
|
|
|
|
a) The Company has one class of issued shares referred to as equity shares. Each holder of equity shares is entitled to one vote per share. The dividend proposed by the board of directors, if any, is subject to the approval of shareholders in Annual General Meeting. In the event of liquidation of the Company the holder of the equity shares will be entitled to receive remaining assets of the Company after settlement of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the equity shareholders.
b) Reconciliation of
Number of shares outstanding and the amount of Share Capital as at 31st March,
2012
|
Equity Shares (Issued Capital) |
Number of Shares |
Amount in Millions |
|
Share Outstanding at the beginning of the year Share issued during the year |
500000 |
5.000 |
|
Share Outstanding
at the end of the year |
500000 |
5.000 |
c) Details of
Shareholding holding more than 5% share of the company
|
Name of Shareholder |
Number of Shares |
% of holding |
|
Ramesh L. Sidhpura |
330000 |
66.00 |
|
Shobhanaben R. Sidhpura |
159000 |
31.80 |
|
Total |
489000 |
97.80 |
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 |
5.000 |
5.000 |
5.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
55.194 |
43.387 |
37.558 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
60.194 |
48.387 |
42.558 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
21.659 |
15.367 |
8.064 |
|
|
2] Unsecured Loans |
3.586 |
4.975 |
0.075 |
|
|
TOTAL BORROWING |
25.245 |
20.342 |
8.139 |
|
|
DEFERRED TAX LIABILITIES |
8.075 |
6.847 |
4.211 |
|
|
|
|
|
|
|
|
TOTAL |
93.514 |
75.576 |
54.908 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
78.289 |
80.242 |
44.223 |
|
|
Capital work-in-progress |
14.754 |
4.677 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
3.169 |
6.651 |
0.100 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
7.107
|
7.713 |
6.165 |
|
|
Sundry Debtors |
6.202
|
8.392 |
5.326 |
|
|
Cash & Bank Balances |
1.320
|
0.307 |
0.601 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
3.814
|
3.960 |
8.656 |
|
Total
Current Assets |
18.443
|
20.372 |
20.748 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
7.441
|
30.247 |
7.428 |
|
|
Other Current Liabilities |
7.051
|
0.000 |
0.934 |
|
|
Provisions |
6.649
|
6.119 |
1.801 |
|
Total
Current Liabilities |
21.141
|
36.366 |
10.163 |
|
|
Net Current Assets |
(2.698)
|
(15.994) |
10.585 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
93.514 |
75.576 |
54.908 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
127.201 |
111.332 |
69.022 |
|
|
|
Other Income |
0.566 |
1.136 |
1.431 |
|
|
|
TOTAL (A) |
127.767 |
112.468 |
70.453 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
102.145 |
94.257 |
59.425 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
102.145 |
94.257 |
59.425 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
25.622 |
18.211 |
11.028 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
4.163 |
2.657 |
1.741 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
21.459 |
15.554 |
9.287 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
5.359 |
4.937 |
2.894 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX
(E-F) (G) |
16.100 |
10.617 |
6.393 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
4.535 |
4.788 |
1.781 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
11.565 |
5.829 |
4.612 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
43.387 |
37.558 |
32.946 |
|
|
|
|
|
|
|
|
|
Less/ Add |
EARLIER
YEAR IT’S REFUND |
0.241 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
55.193 |
43.387 |
37.558 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
49.592 |
36.677 |
36.677 |
|
|
TOTAL EARNINGS |
49.592 |
36.677 |
36.677 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
23.13 |
11.66 |
9.23 |
|
Expected Sales (2012-13) : Rs. 180.000 Millions
The above information has been parted by Mr. Shailesh Darji
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
9.05
|
5.18 |
6.55 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
12.66
|
9.54 |
9.26 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
16.64
|
10.55 |
9.84 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.27
|
0.22 |
0.15 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.42
|
0.42 |
0.19 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.87
|
0.56 |
2.04 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
(Rs
in Millions)
|
Particular |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Sundry Creditors for Materials and Supplies |
7.441
|
30.247 |
7.428 |
|
|
|
|
|
|
Total |
7.441
|
30.247 |
7.428 |
|
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 |
Yes |
|
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 |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
Yes |
|
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 |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
OPERATIONS DURING THE
YEAR:
During the year, the Company has achieved the Sales of Rs. 127.201 Millions as against Rs. 111. 332 Millions in the previous year. The Company hopes to achieve good results in the current year.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U28999GJ1995PTC025074 |
|
Name of the
company |
MAKSTEEL WIRE
HEALDS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
880/1/2/3/4, GIDC Makarpura, Vadodara – 390010, Gujarat, India |
|
This form is for |
Modification of charge |
|
Charge identification
(ID) number of the charge to be modified |
90094840 |
|
Type of charge |
|
|
Particular of
charge holder |
State Bank of India, Specialised Commercial Branch, Trident Complex, Race Course, Vadodara - 390023, Gujarat, India |
|
Nature of
instrument creating charge |
Supplemental
Agreement of Loan cum Hypothecation |
|
Date of instrument
Creating the charge |
12.12.2012 |
|
Amount secured by
the charge |
Rs. 67.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest C C: 3% Above
Base Rate present effective 12.75% p. a. TL(existing):
3.10% Above Base Rate, present effective 12.85% p.a. Fresh SME open
term loan: 3.15% Above Base Rate, present effective 12.90% p.a Terms of Repayment CC: Repayable on demand TL: As per existing terms of sanction Fresh SME Open Term Loan of Rs 25.000 Millions is repayable by 60 monthly installments excluding moratorium period of 12 months comprising 50 installments of Rs. 0.400 Million each for the period from 30.11.2013 to 31.12.2017 and 10 installments of Rs. 0.500 Million each for the period from 31.01.2018 to 31.10.2018. Interest and charges shall be paid as and when due for payment. Margin Raw material Domestic - 25% Raw material Imported - 15% Stocks in process - 30% Finished goods - 30% Receivables Domestic/ export (Cover 90 days) - 50% Export packing credit - 10% of FOB Term loan ( Fresh open term loan) - 16.67% (uniform) Project letter of credit ( Cash margin) - 16.67% Extent and Operation of the charge First and
exclusive charge of State bank of India, Specialized Commercial Branch,
Baroda by way of hypothecation of
stocks, book debts, plant and machinery and other movable assets, both
present and future, of the company. The charge is
increased by Fresh SME Term Loan of Rs. 25.000 Millions, Additional cash
credit of Rs. 5.000 Millions and additional SLC of Rs. 0.500 Million Thus
overall charge limits stand to Rs. 67.000 Millions. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
|
|
Date of instrument
modifying the charge |
23.06.2011 |
|
Particulars of
the present modification |
The Charge is
enhanced from Rs. 46.500 Millions to Rs. 67.000 Millions with the grant of
Fresh SME Open Term Loan, Additional cash credit and Additional SLC. Thus the
over all charge stands modified to Rs. 67.000 Millions |
UNSECURED LOAN
(Rs in Millions)
|
Particular |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
Loans and advances
from Related Parties |
|
|
|
Satyam Industries |
0.000 |
4.000 |
|
Ramesh L. Sidhpura |
1.461 |
0.900 |
|
Shobhanaben L. Sidhpura |
0.990 |
0.075 |
|
Arpit R. Sidhpura |
1.135 |
0.000 |
|
Total |
3.586 |
4.975 |
TRADE REFERENCES
- lohia Starlinger Limited, Kanpur
- Round Well Steel Corporation, Ahmedabad
FIXED ASSETS
- Land
- Building
- Plant and Equipments
- Dies and Toots
- Dies and Tools (WIP)
- Office Equipment
- Electric Installation
- Air Conditioner
- Zerox Machine
- Bore
- Weighing Digital Scale
- Furniture and Fixture
- Mercedes Benz
- Eicher (GJ6 W 08803)
- Hero Honda Karizma
- Scooter
- Kinetic
- Honda Activa
- Honda Activa (SRS)
- BMW - 530DCKD
- ALTO LXi (CNG)
- ECCO
- ETIOS
- Innova
- Maruti Wegonr
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
|
Information Gathered
by : |
SVA |
|
|
|
|
Report Prepared
by : |
UDS |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
--DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
48 |
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.