MIRA INFORM REPORT
|
Report Date : |
09.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
ASTRON PACKAGING LIMITED |
|
|
|
|
Registered
Office : |
2nd Floor, Chinubhai Centre, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
03.07.2001 |
|
|
|
|
Com. Reg. No.: |
04-039733 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.16.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U21029GJ2001PLC039733 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHIMA03205G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECA0093L |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Corrugated Boxes. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 530000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
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|
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|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. Sales and profit of the company has increased in 2012. Financially
company has performed well. Trade relations are reported to be fair. Business is active. Payment
terms are reported to be 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
The current downturn
provides an opportunity to push ahead with reforms to accelerate growth, says the
latest India Development Update report released by the World Bank. The report
says that the adverse effects of rupee depreciation are likely to be offset by
the gains in the exports performance due to improved external competitiveness.
Since May this year, the local currency has depreciated substantially and fell
to a record level of Rs 68.85 to a dollar on August, 28.
A stagflation like
situation appears to have arisen as inflation jumped to an eight month high of
6.46 % for the month of September. It is up from 6.10 % in August. Growth
continues to be muted with factory output plunging to 0.6 % in August.
Onion prices have risen nearly 300 % from last September. Vegetables cost
nearly 90 % more than they did last year. Wake up to the economic contribution
of slum dwellers. They contribute more than 7.5 % to the country’s gross
domestic product, according to a recent study conducted in 50 top cities.
136000 estimated
number of jobs created during the second quarter of the current financial year.
50000 estimated number of additional jobs in the field of corporate social
responsibility in the coming years.
The International
Finance Corporation expects to come out with its rupee linked bonds issue
before the end of 2013 as a part of its plan to raise $ 1 billion. The Apple
iPhone 5c (Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has
been launched in India from 1st November.
The Land Acquisition
Act to provide just and fair compensation to farmers will come into force from
January 1 next year, said Rural Development Minister Jairam Ramesh. The Act
replaces a 119 year old registration. The Securities and Exchange Board of
India has approved the trading of currency futures on the Bombay Stock
Exchange. The exchange plans to launch the currency futures platform with
advanced trading technology by the end of November.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
BBB (Long Term Bank Facilities) |
|
Rating Explanation |
Moderate credit quality and average credit
risk. |
|
Date |
March 11, 2013 |
|
Rating Agency Name |
CARE |
|
Rating |
A3+ (Short Term Bank Facilities) |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
March 11, 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 DENIED
Management Non-Cooperative (91-2717-294204)
LOCATIONS
|
Registered Office : |
2nd Floor, Chinubhai Centre, Ashram Road, Ahmedabad – 380009,
Gujarat, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9909944583 (Mr. Paresh) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
|
|
|
Factory : |
No.22, 23 and 34, Mahagujarat Industrial Estate, Sarkeh Bavla Highway,
Village – Moraiya, Ahmedabad - 382210 Gujarat, India |
|
Tel. No.: |
91-2717-294204 |
DIRECTORS
As on 20.08.2012
|
Name : |
Mr. Urmish Hasmukh Chudgar |
|
Designation : |
Director |
|
Address : |
16, Nishant Bunglows, Satelite, Ahmedabad – 380015, Gujarat,
India |
|
Date of Birth/Age : |
16.02.1959 |
|
Date of Appointment : |
03.07.2001 |
|
DIN No.: |
00096080 |
|
|
|
|
Name : |
Mr. Binish Hasmukh Chudgar |
|
Designation : |
Director |
|
Address : |
11, Akashneem Bunglows,
Vastrapur, Ahmedabad – 380015, Gujarat, India |
|
Date of Birth/Age : |
01.12.1963 |
|
Date of Appointment : |
03.07.2001 |
|
DIN No.: |
00119503 |
|
|
|
|
Name : |
Mr. Nimish Hasmukh Bhai Chudgar |
|
Designation : |
Director |
|
Address : |
13-14, Sanidhya Bunglows, Near Someshwar Jain Temple, Satelite,
Ahmedabad – 380015, Gujarat, India |
|
Date of Birth/Age : |
19.08.1960 |
|
Date of Appointment : |
03.07.2001 |
|
DIN No.: |
00212400 |
|
|
|
|
Name : |
Ms. Ruchi Nimishbhai Chudgar |
|
Designation : |
Director |
|
Address : |
13-14, Sanidhya Bunglows, Near Someshwar Jain Temple, Satelite,
Ahmedabad – 380015, Gujarat, India |
|
Date of Birth/Age : |
26.09.1987 |
|
Date of Appointment : |
04.02.2008 |
|
DIN No.: |
02184075 |
|
|
|
|
Name : |
Mrs. Bina Nimish Chudgar |
|
Designation : |
Whole-time director |
|
Address : |
13-14, Sanidhya Bunglows, Near Someshwar Jain Temple, Satelite, Ahmedabad
– 380015, Gujarat, India |
|
Date of Birth/Age : |
01.07.1964 |
|
Date of Appointment : |
15.04.2008 |
|
DIN No.: |
00314377 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 20.08.2012
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Nimish Hasmukh Bhai Chudgar |
|
500000 |
|
Bina Nimish Chudgar |
|
1099500 |
|
Hasmukh K Chudgar |
|
100 |
|
Bindiben B. Chudgar |
|
100 |
|
Kusumben H. Chudgar |
|
100 |
|
Parulben U. Chudgar |
|
100 |
|
Ruchi N. Chudgar |
|
100 |
|
|
|
|
|
Total
|
|
1600000 |
Equity Share Break up (Percentage of Total Equity)
As on 20.08.2012
|
Category |
|
Percentage |
|
Directors or relatives of directors |
|
100.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Corrugated Boxes. |
PRODUCTION STATUS
As on 31.03.2012
|
Particulars |
|
Unit |
Installed
Capacity |
Actual
Production |
|
|
|
|
|
|
|
Cartons, Boxes and cases of Corrugated Paper and Paperboard and parts
there of |
|
Tones |
12000 |
7115 |
|
Self Adhesives Labels |
|
SQM |
1300000 |
1027078 |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
|||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||
|
Bankers : |
Axis Bank
Limited, Trishul 3rd Floor, Opposite Samartheshwar
Temple, Law Garden Ellisbridge, Ahmedabad - 380006, Gujarat, India |
|||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Bhadresh Shah and Associates Chartered Accountants |
|
Address : |
7, New Aashish Flats, Opposite Shefali Center, Near Paldi Char Rasta, Ahmedabad
– 380006, Gujarat, India |
|
PAN No.: |
ACAPS7095K |
|
|
|
|
Group Companies : |
Intas Pharmaceuticals Limited |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1600000 |
Equity Shares |
Rs.10/- each |
Rs.16.000
Millions |
|
|
|
|
|
Notes:
Details of shares held by each shareholder holding more than 5% shares
|
Names of Shareholders |
31.03.2012 |
|
|
|
Number of Shares
Held |
% of holding in that class of shares |
|
Nimish H. Chudgar |
500000 |
31.25 |
|
Binaben N. Chudgar |
1099500 |
68.72 |
|
|
1599500 |
99.97 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
16.000 |
16.000 |
|
(b) Reserves & Surplus |
|
116.664 |
98.582 |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
|
132.664 |
114.582 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
127.885 |
100.840 |
|
(b) Deferred tax liabilities (Net) |
|
15.839 |
10.943 |
|
(c) Other long term liabilities |
|
0.882 |
0.877 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
144.606 |
112.660 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short term borrowings |
|
40.407 |
28.601 |
|
(b) Trade payables |
|
90.676 |
115.264 |
|
(c) Other current liabilities |
|
0.246 |
0.369 |
|
(d) Short-term provisions |
|
9.846 |
1.410 |
|
Total Current
Liabilities (4) |
|
141.175 |
145.644 |
|
|
|
|
|
|
TOTAL |
|
418.445 |
372.886 |
|
|
|
|
|
|
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
203.256 |
173.525 |
|
(ii) Intangible Assets |
|
0.442 |
0.442 |
|
(iii) Capital work-in-progress |
|
0.000 |
0.461 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.005 |
0.005 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.000 |
0.000 |
|
(e) Other Non-current assets |
|
4.148 |
1.720 |
|
Total Non-Current
Assets |
|
207.851 |
176.153 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
35.059 |
66.383 |
|
(c) Trade receivables |
|
134.783 |
80.752 |
|
(d) Cash and cash equivalents |
|
7.810 |
27.666 |
|
(e) Short-term loans and advances |
|
32.942 |
21.932 |
|
(f) Other current assets |
|
0.000 |
0.000 |
|
Total Current
Assets |
|
210.594 |
196.733 |
|
|
|
|
|
|
TOTAL |
|
418.445 |
372.886 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
8.300 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
42.543 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
50.843 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
4.338 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
55.181 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
88.207 |
|
|
Capital work-in-progress |
|
|
12.232 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.005 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
Other Non-Current Assets |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
18.200 |
|
|
Sundry Debtors |
|
|
30.775 |
|
|
Cash & Bank Balances |
|
|
6.637 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
32.193 |
|
Total
Current Assets |
|
|
87.805 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
46.425 |
|
|
Other Current Liabilities |
|
|
84.002 |
|
|
Provisions |
|
|
2.641 |
|
Total
Current Liabilities |
|
|
133.068 |
|
|
Net Current Assets |
|
|
(45.263) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
55.181 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
423.194 |
315.725 |
152.996 |
|
|
|
Other Income |
0.154 |
0.288 |
0.937 |
|
|
|
TOTAL (A) |
423.348 |
316.013 |
153.933 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of material consumed |
275.481 |
202.340 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and stock –in-trade |
(0.731) |
(1.765) |
|
|
|
|
Employee benefits Expenses |
20.005 |
11.721 |
|
|
|
|
Other Expenses |
74.022 |
69.131 |
|
|
|
|
TOTAL (B) |
368.777 |
281.433 |
137.328 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
54.571 |
34.580 |
16.605 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
15.251 |
7.675 |
0.025 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
39.320 |
26.905 |
16.580 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
9.928 |
6.361 |
2.266 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
29.392 |
20.544 |
14.314 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
11.311 |
10.705 |
6.903 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
18.081 |
9.839 |
7.411 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
39.182 |
29.343 |
21.932 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
57.263 |
39.182 |
29.343 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
11.30 |
0.61 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
4.27 |
3.11 |
4.81 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.95 |
6.50 |
9.36 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.02 |
5.52 |
8.13 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.22 |
0.18 |
0.28 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.27 |
1.13 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.49 |
1.35 |
0.66 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT
MATURITIES OF LONG-TERM DEBT DETAILS – NOT AVAILABLE
|
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 |
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 |
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:
The Gross income of the company for the year was Rs.423.348 Millions as against
Rs.316.013 Millions in the previous year and the profit for the year after
provision of taxes was Rs.18.081 Millions as against Rs.9.839 Millions in the
previous year respectively.
UNSECURED LOAN
(Rs.
In Millions)
|
Particular |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
LONG TERM
BORROWINGS |
|
|
|
Binaben N. Chudgar |
0.000 |
5.000 |
|
Nimishbhai H. Chudgar |
29.500 |
0.000 |
|
Loan from Directors |
20.000 |
0.000 |
|
SHORT TERM
BORROWINGS |
|
|
|
Trade Deposits |
|
|
|
True Value Paper Company (Advance Deposits) |
0.100 |
0.100 |
|
Vadiawala Associates (Advance
Deposits) |
0.000 |
0.050 |
|
|
|
|
|
Total |
49.600 |
5.150 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10450447 |
25/09/2013 |
400,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B85516011 |
|
2 |
10443331 |
02/08/2013 |
380,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B82250317 |
FIXED ASSETS:
- Land
- Factory Building
- Plant and Machinery
- Electric Installation
- Office Equipments
- Furniture and Fixtures
- Material handling Equipments
- Computers
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 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.62.73 |
|
|
1 |
Rs.100.92 |
|
Euro |
1 |
Rs.84.06 |
INFORMATION DETAILS
|
Information
Gathered by : |
NAY |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
45 |
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.