MIRA
INFORM REPORT
|
Report Date : |
10.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
RESONANCE SPECIALITIES LIMITED |
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Registered
Office : |
301, Evershine Mall, Chincholi Bunder Junction, Malad (West), Mumbai –
400 064, |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
01.06.1989 |
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Com. Reg. No.: |
11-051993 |
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Capital
Investment / Paid-up Capital : |
Rs. 115.440 Millions |
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CIN No.: [Company Identification
No.] |
L25209MH1989PLC051993 |
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Legal Form : |
It is a public limited
liability company. The company’s
shares are listed on the stock exchanges. |
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Line of Business
: |
Themain
activity of company is manufacturing of Pyridine, Picoline, Cynopyridine and derivatives of the same |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. There
appear some losses during 2011-2012. The company seems to have a modest scale
of business operation. However, trade relations are reported to be 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 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
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 : |
301, Evershine Mall, Chincholi Bunder Junction, Malad (West), Mumbai –
400 064, |
|
Tel. No.: |
91-22-4217 2222 / 4003 8920 |
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Fax No.: |
91-22-4217 2233 |
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E-Mail : |
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Website: |
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Plant : |
T-140 MIDC Industrial Estate, Tarapur, |
DIRECTORS
As on 31.03.2012
|
Name : |
Mr. Rajnikant Worah |
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Designation : |
Chairman (Non Executive and Independent Director ) |
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Name : |
Dr. A.B. Gupta |
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Designation : |
Managing Director (Executive Director) |
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|
Name : |
Mr. B.P. Agrawal |
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Designation : |
Non Executive Director |
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|
Name : |
Mr. L.R. Daga |
|
Designation : |
Non Executive and Independent Director |
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Date of Appointment : |
14.02.2012 |
SHAREHOLDING PATTERN
As on 31.03.2013
|
Names of Shareholders |
No.
of Shares |
Percentage
of Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
64902 |
0.56 |
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|
7405900 |
64.15 |
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|
7470802 |
64.72 |
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Total shareholding of Promoter and Promoter Group (A) |
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(B) Public Shareholding |
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|
3300 |
0.03 |
|
Financial Institutions/Bank |
5000 |
0.04 |
|
Any Others (Specify) |
100 |
0.00 |
|
Trusts |
100 |
0.00 |
|
|
8400 |
0.07 |
|
|
|
|
|
|
282785 |
2.45 |
|
|
|
|
|
|
2428764 |
21.04 |
|
|
1345311 |
11.65 |
|
|
7938 |
0.07 |
|
|
7938 |
0.07 |
|
|
4064798 |
35.21 |
|
Total Public shareholding (B) |
4073198 |
35.28 |
|
Total (A)+(B) |
11544000 |
100.00 |
|
© Shares held by Custodians and against which Depository
Receipts have been issued |
0.00 |
0.00 |
|
Total (A)+(B)+(C) |
11544000 |
0.00 |
(1) Indian
Individuals / Hindu Undivided Family
Individual shareholders holding nominal share
capital up to Rs.0.100 millionsBUSINESS DETAILS
|
Line of Business : |
The
main activity of company is manufacturing of Pyridine, Picoline, Cynopyridine and derivatives of the same |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
Bank of |
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Facilities : |
Secured Loan :
Note : The above borrowing from Bank is secured by
hypothecation of present and future stock of raw material, stock in process
and Finished goods and book debts of the company, and further secured by first
charge by way of equitable mortgage of land and building, plant and
machineries and all immovable properties of the company situated at T 140
MIDC Tarapur, Dist-Thane and further guaranteed by Managing Director of the
company and is repayable on demand |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
V.R.Bhabhra and Company Chartered Accountant |
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Address : |
303, Sagar Shopping center, Andheri (west), Mumbai- 400
058, Maharashtra, |
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Related Parties : |
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CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
Rs. 10/- each |
Rs. 150.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11544000 |
Equity Shares |
Rs. 10/- each |
Rs. 115.440 Millions |
a)
Reconciliation of equity shares outstanding at the beginning and at the end of
the reporting period
As on 31.03.2012
|
Particulars |
No. of Shares |
Rs. In Millions |
|
At the beginning of the period |
11544000 |
115.440 |
|
Issued during the period |
- |
- |
|
Outstanding at the end of the period |
1154000 |
115.440 |
b)
Terms/ rights attached to equity shares :
- The Company has
only one class of shares referred to as equity shares having a par value
of 10/-.Each
holder of equity shares is entitled to one vote per share.
- In the event of liquidation of the
Company, the holders of equity shares will be entitled to receive any of
the remaining assets of the company, after distribution of all
preferential amounts. However, no such preferential amounts exist
currently. The distribution will be in proportion to the number of equity
shares held by the shareholders
c) Details of shareholders holding
more that 5% shares of the company
|
Equity share of Rs.10/-each fully paid |
No. of Shares |
% of Holding |
|
|
3964100 |
34.34 |
|
Usma Investment Private Limited |
3295200 |
28.54 |
d) As per the of the company, including its register of
the shareholders/ members and other declarations received from the shareholders
regarding beneficial interest, the above shareholding represent both legal and
beneficial ownerships of shares
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 |
115.440 |
115.440 |
115.400 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
92.825 |
101.320 |
98.700 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
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NETWORTH |
208.265 |
216.760 |
214.100 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
34.862 |
29.836 |
31.500 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.800 |
|
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TOTAL BORROWING |
34.862 |
29.836 |
32.300 |
|
|
DEFERRED TAX LIABILITIES |
16.312 |
17.755 |
0.000 |
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|
|
|
|
|
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TOTAL |
259.439 |
264.351 |
246.400 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
176.659 |
181.264 |
154.900 |
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Capital work-in-progress |
3.983 |
10.234 |
35.000 |
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|
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
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|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
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|
Inventories |
56.011
|
71.213 |
54.600 |
|
|
Sundry Debtors |
64.059
|
69.485 |
89.000 |
|
|
Cash & Bank Balances |
5.212
|
4.668 |
0.600 |
|
|
Other Current Assets |
8.645
|
6.838 |
0.000 |
|
|
Loans & Advances |
8.347
|
8.178 |
23.900 |
|
Total
Current Assets |
142.274
|
160.382 |
168.100 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
39.657
|
63.422 |
0.000 |
|
|
Other Current Liabilities |
20.630
|
20.408 |
96.000 |
|
|
Provisions |
3.190
|
3.699 |
15.600 |
|
Total
Current Liabilities |
63.477
|
87.529 |
111.600 |
|
|
Net Current Assets |
78.797
|
72.853 |
56.500 |
|
|
|
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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TOTAL |
259.439 |
264.351 |
246.400 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
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SALES |
|
|
|
|
|
|
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Income |
356.258 |
286.271 |
|
|
|
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Other Income |
3.850 |
2.886 |
|
|
|
|
TOTAL (A) |
360.108 |
289.157 |
324.400 |
|
|
|
|
|
|
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Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of raw material consumed |
72.738 |
77.648 |
|
|
|
|
Purchases of trade goods |
148.437 |
79.809 |
|
|
|
|
(Increase)/Decrease in inventories of finished goods and stock in
trade and work in process |
9.731 |
(22.364) |
|
|
|
|
Employees benefit expenses |
16.269 |
17.049 |
|
|
|
|
Other expenses |
99.784 |
106.449 |
|
|
|
|
TOTAL (B) |
346.958 |
258.591 |
278.000 |
|
|
|
|
|
|
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|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
13.150 |
30.566 |
46.400 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
6.391 |
5.914 |
5.900 |
|
|
|
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|
|
|
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|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
6.759 |
24.652 |
40.500 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
10.839 |
12.121 |
11.900 |
|
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|
|
|
|
|
|
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|
PROFIT BEFORE
EXCEPTIONAL ITEMS AND TAX (E-F) (G) |
(4.080) |
12.5312 |
28.600 |
|
|
|
|
|
|
|
|
|
Less |
EXCEPTIONAL
ITEMS
(H) |
(2.429) |
(1.575) |
0.000 |
|
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|
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|
PROFIT/LOSS
BEFORE TAX (G-H)
(I) |
(6.509) |
10.956 |
28.600 |
|
|
|
|
|
|
|
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|
Less |
TAX (J) |
1.186 |
(5.173) |
9.000 |
|
|
|
|
|
|
|
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|
|
PROFIT/LOSS
AFTER TAX (G-I) (K) |
(5.323) |
5.783 |
18.600 |
|
|
|
|
|
|
|
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|
EARNINGS IN
FOREIGN CURRENCY |
141.360 |
61.767 |
NA |
|
|
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|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(0.46) |
0.50 |
1.70 |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2012 (Unaudited) |
30.09.2012 (Unaudited) |
31.12.2012 (Unaudited) |
|
|
1st
Quarter |
2nd Quarter |
3rd Quarter |
|
Net sales |
89.400 |
106.200 |
101.600 |
|
Total Expenditure |
82.800 |
91.800 |
92.300 |
|
Profit before interest, depreciation and
tax (Excl OI ) |
6.600 |
14.400 |
9.300 |
|
Other Income |
0.000 |
0.000 |
0.000 |
|
Operating profit |
6.600 |
14.400 |
9.300 |
|
Interest |
1.600 |
2.000 |
2.100 |
|
Exceptional Items |
0.000 |
0.700 |
(0.500) |
|
Profit before depreciation and tax |
5.000 |
11.700 |
7.700 |
|
Depreciation |
2.800 |
2.800 |
2.800 |
|
Profit before tax |
2.200 |
8.900 |
4.900 |
|
Tax |
0.700 |
3.000 |
1.300 |
|
Provision and contingencies |
0.000 |
0.000 |
0.000 |
|
Profit after tax |
1.500 |
5.800 |
3.700 |
|
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 |
1.500 |
5.800 |
3.700 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(1.48)
|
2.00 |
5.73 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(1.81)
|
3.79 |
8.82 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(2.04)
|
3.79 |
8.85 |
|
|
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|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.03)
|
0.05 |
0.13 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.17
|
0.14 |
0.16 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.24
|
1.83 |
1.51 |
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 |
No |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-------------- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
----------------- |
|
22] |
Litigations that the firm
/ promoter involved in |
------------------ |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
No |
|
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 |
No |
|
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 |
No |
GENERAL
INFORMATION:
Subjest
is incorporated under the companies Act 1956, and is listed with
COMPANY
OVERVIEWS:
The
manufacturing plant of the company is located at MIDC Tarapur (Boisar) in close
vicinity of city of
The
company in the current year has substantially improved the business of value
added Cyanopyridines, Lutidines, Collidines which have significantly
contributed to the profitability of the Company and created a distinct market
position worldwide. Further the Company has substantially improved its exports
of Nutraceuticals.
OUTLOOK
Given
the various development measures adopted by the Company, it is now optimistic
about its growth prospects for the current financial year.
RESULTS
OF OPERATIONS :
The
Company had reported turnover of Rs. 356.258 Millions for the year ended March
31, 2012 as against Rs. 286.271 Millions in the previous year, showing Increase
of over 24%. The Company has generated net loss of Rs. 5.323 Millions as
against net profit of Rs. 5.783 Millions in the previous year in view of higher
input cost and lower finished products prices.
FUTURE
PROSPECTS :
Due
to heavy competition and adverse forex prices, Subject is exploring alternate
raw material to manufacture its basic products to sustain the profitability. In
case of some of the value added products of the Company there are few
competitors in the world but the demand for product is limited.
The
Company is making all the efforts to develop new applications of its products
and is confident of substantially expanding the market in near future.
Nutraceuticals market is growing rapidly worldwide and in particular within
UNAUDITED FINANCIAL RESULTS FOR THE THREE MONTHA AND NINE MONTHS
ENDED 31ST DECEMBER
2012
(Rs. In Millions)
|
Particulars |
Quarter Ended ( Unaudited) |
Nine Month Ended ( Unaudited) |
|
|
|
31.12.2012 |
30.09.2012 |
31.12.2012 |
|
1.
Income form operations |
|
|
|
|
a) Net sales/ Income from operation (net of excise duty) |
100.945 |
105.690 |
294.041 |
|
b) Other operating income |
0.570 |
0.475 |
3.062 |
|
Total
income from Operations(net) |
101.151 |
106.164 |
297.103 |
|
2.
Expenditure |
|
|
|
|
a) Cost of material consumed |
24.568 |
20.988 |
57.925 |
|
b) Purchases of stock in trade |
40.067 |
35.285 |
123.993 |
|
c) Changes in inventories of finished goods,
work-in-progress and stock-in-trade |
(2.173) |
2.037 |
0.646 |
|
d) Employees benefit expenses |
7.556 |
4.936 |
16.736 |
|
e) Depreciation and amortization expenses |
2.800 |
2.827 |
8.405 |
|
e) Power and Fuel |
7.209 |
9.662 |
21.920 |
|
f) Other expenses |
15.029 |
18.858 |
45.586 |
|
Total expenses |
95.055 |
94.593 |
275.211 |
|
3.
Profit/(Loss) from operations before other income and financial costs and
Exceptional Items (1-2) |
6.460 |
11.571 |
21.892 |
|
4. Finance costs |
(2.123) |
(2.056) |
(5.840) |
|
5.
Profit/(Loss) from ordinary activities
after Finance costs and before Exceptional Items (3+4) |
4.338 |
9.516 |
16.052 |
|
6. Exceptional Items |
0.579 |
(0.654) |
(0.074) |
|
7. Profit
from ordinary activities before tax (5+6) |
4.917 |
8.862 |
15.978 |
|
8. Tax expenses |
(1.248) |
(3.032) |
(4.991) |
|
9. Net Profit/(Loss) ) from ordinary activities after Tax (7+8) |
3.669 |
5.830 |
10.986 |
|
10. Paid up equity share capital (Face value of Rs.10/-
per share) |
115.440 |
115.440 |
115.440 |
|
11 .Reserves excluding revaluation reserves |
59.606 |
40.172 |
99.777 |
|
12. Earning per share,(basic and diluted) (Rs)
(annualized) |
0.32 |
0.51 |
0.95 |
|
13. Public Shareholding |
|
|
|
|
a) Number of shares |
4073198 |
4073198 |
4073198 |
|
b) Percentage of shareholding |
35.28 |
35.28 |
35.28 |
|
14. Promoters and Promoter group shareholding o |
|
|
|
|
a) Pledged /Encumbered |
- |
- |
- |
|
Number of shares |
- |
- |
- |
|
Percentage of shares (as a % of total shareholding of the
promoter and promoter group) |
- |
- |
- |
|
Percentage of shares (as a % of total share capital of the
company) |
- |
- |
- |
|
b) Non Encumbered |
|
|
|
|
Number of shares |
7470802 |
7470802 |
7470802 |
|
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) |
64.72 |
64.72 |
64.72 |
Notes:
- The above
Unaudited Results, as reviewed by the Audit Committee, have been approved
by the Board of Directors at their meeting held on 7th
February, 2013.
- The company has
one segment namely ‘Chemical Manufacturing’. Therefore, reporting
requirement in terms of AS-17 ‘Segment Reporting is not applicable.
- As informed
by M/s. Ajel InfoTech Limited, Registrar and Share Transfer Agents of the
Company, there were on investors’ complaints pending since last quarter.
The company has not received any new complaints during the quarter.
- The figures
have been grouped/regrouped wherever necessary in compliance with revised
schedule VI.
FIXED ASSETS:
- Buildings
- Plant and Machinery
- Furniture and Fixtures
- Office Equipment
- Motor Car
- Electric Installation
- Lab Equipment
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 records 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. 54.241 |
|
|
1 |
Rs. 84.296 |
|
Euro |
1 |
Rs. 71.362 |
INFORMATION DETAILS
|
Report Prepared by
: |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
NO |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
27 |
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.