MIRA INFORM REPORT

 

 

Report Date :

16.11.2013

 

IDENTIFICATION DETAILS

 

Name :

R1 DELTA CIS PTE. LTD.

 

 

Registered Office :

221, Henderson Road, 08 - 15, Henderson Building, 159557

 

 

Country :

Singapore

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

01.09.2006

 

 

Com. Reg. No.:

200612801-W

 

 

Legal Form :

Private Limited

 

 

Line of Business :

Subject is engaged in the marketing and distribution of Natural Rubber, Latex and Rubber products

 

 

No. of Employees :

3

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

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 – March, 31st, 2013

 

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

Singapore

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

SINGAPORE ECONOMIC OVERVIEW

 

Singapore has a highly developed and successful free-market economy. It enjoys a remarkably open and corruption-free environment, stable prices, and a per capita GDP higher than that of most developed countries. The economy depends heavily on exports, particularly in consumer electronics, information technology products, pharmaceuticals, and on a growing financial services sector. Real GDP growth averaged 8.6% between 2004 and 2007. The economy contracted 0.8% in 2009 as a result of the global financial crisis, but rebounded 14.8% in 2010, on the strength of renewed exports, before slowing to 5.2% in 2011 and 1.3% in 2012, largely a result of soft demand for exports during the second European recession. Over the longer term, the government hopes to establish a new growth path that focuses on raising productivity, which has sunk to an average of about 1.0% in the last decade. Singapore has attracted major investments in pharmaceuticals and medical technology production and will continue efforts to establish Singapore as Southeast Asia's financial and high-tech hub.

 

Source : CIA

 

EXECUTIVE SUMMARY

 

 

REGISTRATION NO.

:

200612801-W

COMPANY NAME

:

R1 DELTA CIS PTE. LTD.

FORMER NAME

:

N/A

INCORPORATION DATE

:

01/09/2006

COMPANY STATUS

:

EXIST

LEGAL FORM

:

PRIVATE LIMITED

LISTED STATUS

:

NO

REGISTERED ADDRESS

:

221, HENDERSON ROAD, 08 - 15, HENDERSON BUILDING, 159557, SINGAPORE.

BUSINESS ADDRESS

:

221 HENDERSON ROAD, HENDERSON BUILDING #08-15, 159557, SINGAPORE.

TEL.NO.

:

65-62766646

FAX.NO.

:

65-62767045

WEB SITE

:

WWW.R1INTERNATIONAL.COM

CONTACT PERSON

:

KARTHIKESAN S/O VAIRAVAN@ VASUDEVAN S/O VAIRAVAN ( DIRECTOR )

PRINCIPAL ACTIVITY

:

TRADING OF RUBBER

ISSUED AND PAID UP CAPITAL

:

1,000,000.00 ORDINARY SHARE, OF A VALUE OF USD 1,000,000.00

SALES

:

USD 129,322,208 [2012]

NET WORTH

:

USD 5,628,038 [2012]

STAFF STRENGTH

:

3 [2013]

BANKER (S)

:

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

LITIGATION

:

CLEAR

FINANCIAL CONDITION

:

FAIR

PAYMENT

:

N/A

MANAGEMENT CAPABILITY

:

AVERAGE

COMMERCIAL RISK

:

LOW

CURRENCY EXPOSURE

:

MODERATE

GENERAL REPUTATION

:

SATISFACTORY

INDUSTRY OUTLOOK

:

AVERAGE GROWTH

 

 

HISTORY / BACKGROUND

 

The SC is a private limited company and is allowed to have a minimum of one and a maximum of forty-nine shareholders. As a private limited company, the SC must have at least two directors. A private limited company is a separate legal entity from its shareholders. As a separate legal entity, the SC is capable of owning assets, entering into contracts, sue or be sued by other companies. The liabilities of the shareholders are to the extent of the equity they have taken up and the creditors cannot claim on shareholders' personal assets even if the SC is insolvent. The SC is governed by the Companies Act and the company must file its annual returns, together with its financial statements with the Registrar of Companies.

 

The SC is principally engaged in the (as a / as an) trading of rubber.

 

The major shareholder(s) of the SC are shown as follows :

 

Name

Address

IC/PP/Loc No

Shareholding

(%)

R1 INTERNATIONAL PTE LTD

8, ROBINSON ROAD, 05 - 00, ASO BUILDING, 048544, SINGAPORE.

200104842R

510,000.00

51.00

DELTA EXPORTS PTE LTD

221, HENDERSON ROAD, 08 - 15, HENDERSON BLDG, 159557, SINGAPORE.

199300906K

490,000.00

49.00

---------------

------

1,000,000.00

100.00

============

=====

+ Also Director

 

 

DIRECTORS


DIRECTOR 1

 

Name Of Subject

:

DHRUBA CHARAN PANDA

Address

:

KYIV, KOSTYOLNA STREET-8, FLAT 27, UKRAINE.

IC / PP No

:

S27371291

Nationality

:

SINGAPOREAN

Date of Appointment

:

01/10/2007

 

DIRECTOR 2

 

Name Of Subject

:

SANDANA DASS

Address

:

9, BOSCOMBE ROAD, 439746, SINGAPORE.

IC / PP No

:

S2712656A

Nationality

:

SINGAPOREAN

Date of Appointment

:

01/09/2006

 

DIRECTOR 3

 

Name Of Subject

:

KARTHIKESAN S/O VAIRAVAN @ VASUDEVAN S/O VAIRAVAN

Address

:

1, CLOVER RISE, CLOVER PARK, 579153, SINGAPORE.

IC / PP No

:

S2176649F

Nationality

:

SINGAPOREAN

Date of Appointment

:

01/09/2006

 

DIRECTOR 4

 

Name Of Subject

:

LIM BENG SENG

Address

:

373, ONAN ROAD, 03 - 13, MALVERN SPRINGS, 424775, SINGAPORE.

IC / PP No

:

S2607496G

Nationality

:

SINGAPOREAN

Date of Appointment

:

01/02/2009



MANAGEMENT

 

 

 

1)

Name of Subject

:

KARTHIKESAN S/O VAIRAVAN@ VASUDEVAN S/O VAIRAVAN

Position

:

DIRECTOR

 

AUDITOR

 

Auditor

:

ERNST & YOUNG LLP

Auditor' Address

:

N/A

 

 

COMPANY SECRETARIES

 

1)

Company Secretary

:

KATHLEEN SOH LIN TUAN

IC / PP No

:

S1284881A

Address

:

244, BISHAN STREET 22, 03 - 290, 570244, SINGAPORE.

 

 

BANKING


Banking relations are maintained principally with :

 

1)

Name

:

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

 

 

 

ENCUMBRANCE (S)

 

Charge No

Creation Date

Charge Description

Chargee Name

Total Charge

Status

C200906580

15/10/2009

N/A

DBS BANK LTD.

N/A

Unsatisfied

C201112719

11/10/2011

N/A

DBS BANK LTD.

N/A

Unsatisfied

C201214751

14/12/2012

N/A

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

N/A

Unsatisfied

C201307007

23/05/2013

N/A

AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED

N/A

Unsatisfied

 

LEGAL CHECK AGAINST SC


* A check has been conducted in our databank againt the SC whether the subject has been involved in any litigation. 

No legal action was found in our databank. 


No winding up petition was found in our databank. 

 

 

PAYMENT RECORD

 

 

SOURCES OF RAW MATERIALS:

Local

:

N/A

Overseas

:

N/A


The SC refused to disclose its suppliers. 



CLIENTELE

 

Local

:

YES

Domestic Markets

:

SINGAPORE

Overseas

:

YES

Export Market

:

ASIA

EUROPE

Credit Term

:

N/A

Payment Mode

:

CHEQUES
TELEGRAPHIC TRANSFER (TT)

 

 

OPERATIONS

 

Goods Traded

:

RUBBER

 

Total Number of Employees:

YEAR

2013

GROUP

N/A

COMPANY

3

 

Branch

:

NO

 

Other Information:


The SC is principally engaged in the (as a / as an) trading of rubber. 


The SC is engaged in the marketing and distribution of Natural Rubber, Latex and Rubber products . 

CURRENT INVESTIGATION

 

Latest fresh investigations carried out on the SC indicated that :

 

Telephone Number Provided By Client

:

6562766646

Current Telephone Number

:

65-62766646

Match

:

YES

Address Provided by Client

:

221 HENDERSON ROAD #08-15 HENDERSON BUILDING SINGAPORE 159557

Current Address

:

221 HENDERSON ROAD, HENDERSON BUILDING #08-15, 159557, SINGAPORE.

Match

:

YES

 

Other Investigations


On 23th November 2013 we contacted one of the staff from the SC and she provided some information on the SC.

The SC refused to disclose its number of employees.



FINANCIAL ANALYSIS

 

 

Profitability

Turnover

:

Decreased

[

27.04%

]

Profit/(Loss) Before Tax

:

Decreased

[

29.71%

]

Return on Shareholder Funds

:

Acceptable

[

22.02%

]

Return on Net Assets

:

Favourable

[

41.45%

]

The lower turnover could be due to the intense market competition.The dip in profit could be due to the stiff market competition which reduced the SC's profit margin. The SC's management had generated acceptable return for its shareholders using its assets.

Working Capital Control

Stock Ratio

:

Favourable

[

2 Days

]

Debtor Ratio

:

Favourable

[

42 Days

]

Creditors Ratio

:

Favourable

[

0 Days

]

The SC's stocks were moving fast thus reducing its holding cost. This had reduced funds being tied up in stocks. The favourable debtors' days could be due to the good credit control measures implemented by the SC. The SC had a favourable creditors' ratio where the SC could be taking advantage of the cash discounts and also wanting to maintain goodwill with its creditors.

Liquidity

Liquid Ratio

:

Favourable

[

1.25 Times

]

Current Ratio

:

Unfavourable

[

1.28 Times

]

A minimum liquid ratio of 1 should be maintained by the SC in order to assure its creditors of its ability to meet short term obligations and the SC was in a good liquidity position. Thus, we believe the SC is able to meet all its short term obligations as and when they fall due.

Solvency

Interest Cover

:

Unfavourable

[

2.77 Times

]

Gearing Ratio

:

Unfavourable

[

1.40 Times

]

The SC's interest cover was low. If its profits fall or when interest rate rises, it may not be able to meet all its interest payment. The SC was highly geared, thus it had a high financial risk. The SC was dependent on loans to finance its business needs. In times of economic downturn and / or high interest rate, the SC will become less profitable and competitive than other firms in the same industry, which are lowly geared. This is because the SC has to service the interest and to repay the loan, which will erode part of its profits. The profits will fluctuate depending on the SC's turnover and the interest it needs to pay.

Overall Assessment :

The SC's performance deteriorated over the years with lower turnover and profit. The SC was in good liquidity position with its total current liabilities well covered by its total current assets. With its current net assets, the SC should be able to repay its short term obligations. If there is a fall in the SC's profit or any increase in interest rate, the SC may not be able to generate sufficient cash-flow to service its interest. The SC's gearing level was high and its going concern will be in doubt if there is no injection of additional shareholders' funds in times of economic downturn and / or high interest rates.

Overall financial condition of the SC : FAIR

 

SINGAPORE ECONOMIC / INDUSTRY OUTLOOK

 

 

Major Economic Indicators :

2008

2009

2010

2011

2012

 

Population (Million)

4.84

4.98

5.08

5.18

5.31

Gross Domestic Products ( % )

1.5

<0.8>

14.5

4.9

1.3

Consumer Price Index

6.6

0.6

2.8

5.2

4.6

Total Imports (Million)

450,892.6

356,299.3

423,221.8

459,655.1

474,554.0

Total Exports (Million)

476,762.2

391,118.1

478,840.7

514,741.2

510,329.0

 

Unemployment Rate (%)

2.2

3.2

2.2

2.1

2.0

Tourist Arrival (Million)

10.12

9.68

11.64

13.17

14.37

Hotel Occupancy Rate (%)

81.0

75.8

85.6

86.5

86.4

Cellular Phone Subscriber (Million)

1.31

1.37

1.43

1.50

1.52

 

Registration of New Companies (No.)

25,327

26,414

29,798

32,317

31,892

Registration of New Companies (%)

<2.2>

4.3

12.8

8.5

<1.3>

Liquidation of Companies (No.)

10,493

22,393

15,126

19,005

17,218

Liquidation of Companies (%)

13.7

113.4

<32.5>

25.6

9.4

 

Registration of New Businesses (No.)

24,850

26,876

23,978

23,494

24,788

Registration of New Businesses (%)

0.36

8.15

<10.78>

2.02

5.51

Liquidation of Businesses (No.)

21,150

23,552

24,211

23,005

22,489

Liquidation of Businesses (%)

<0.8>

11.4

2.8

<5>

<2.2>

 

Bankruptcy Orders (No.)

2,326

2,058

1,537

1,527

1,748

Bankruptcy Orders (%)

<15.9>

<11.5>

<25.3>

<0.7>

14.5

Bankruptcy Discharges (No.)

1,500

3,056

2,252

1,391

1,881

Bankruptcy Discharges (%)

<7.7>

103.7

<26.3>

<38.2>

35.2

 

INDUSTRIES ( % of Growth ) :

Agriculture

Production of Principal Crops

<0.32>

3.25

<0.48>

4.25

3.64

Fish Supply & Wholesale

<6.31>

<1.93>

<10.5>

12.10

<0.5>

 

Manufacturing *

74.6

71.5

92.8

100.0

100.3

Food, Beverages & Tobacco

94.8

90.4

96.4

100.0

103.5

Textiles

180.1

145.9

122.1

100.0

104.0

Wearing Apparel

334.6

211.0

123.3

100.0

92.1

Leather Products & Footwear

128.2

79.5

81.8

100.0

98.6

Wood & Wood Products

132.0

101.4

104.0

100.0

95.5

Paper & Paper Products

101.0

95.4

106.1

100.0

97.4

Printing & Media

118.2

100.9

103.5

100.0

93.0

Crude Oil Refineries

113.1

96.4

95.6

100.0

99.4

Chemical & Chemical Products

84.5

80.3

97.6

100.0

100.5

Pharmaceutical Products

43.7

49.1

75.3

100.0

109.7

Rubber & Plastic Products

120.1

101.2

112.3

100.0

96.5

Non-metallic Mineral

96.5

91.9

92.5

100.0

98.2

Basic Metals

109.8

92.6

102.2

100.0

90.6

Fabricated Metal Products

101.3

90.8

103.6

100.0

104.3

Machinery & Equipment

65.0

57.3

78.5

100.0

112.9

Electrical Machinery

81.7

86.8

124.1

100.0

99.3

Electronic Components

93.1

85.2

113.6

100.0

90.6

Transport Equipment

102.0

96.0

94.0

100.0

106.3

 

Construction

45.90

<36.9>

14.20

20.50

28.70

Real Estate

<11.2>

1.4

21.3

25.4

31.9

 

Services

Electricity, Gas & Water

<1.3>

1.70

4.00

7.00

6.30

Transport, Storage & Communication

11.60

3.90

12.80

7.40

5.30

Finance & Insurance

<5.9>

<16.4>

<0.4>

8.90

0.50

Government Services

17.40

4.50

9.70

6.90

6.00

Education Services

0.50

0.10

<0.9>

<1.4>

0.30

 

* Based on Index of Industrial Production (2011 = 100)

(Source : Department of Statistics)



INDUSTRY ANALYSIS

 

INDUSTRY :

TRADING

The wholesale and retail trade sector contracted by 1.5% in the fourth quarter of 2012, extending the 0.2% decline in the preceding quarter. For the whole of 2012, the sector declined by 0.7%, reversing the 1.6% growth in 2011. The sector was weighed down primarily by the wholesale trade segment. In 2012, the wholesale trade segment contracted by 1.0%, a reversal from the 1.4% growth in 2011. Growth of the retail trade segment also moderated to 2.0%, from 3.2% in the year 2011.

The domestic wholesale trade index grew by 1.2% in the fourth quarter of 2012, an improvement from the 5.4% decline in the third quarter. This was partly due to an increase in the sales of chemicals & chemical products and ship chandlers & bunkering. For the full year of 2012, the domestic wholesale trade index contracted by 2.2%, extending the 1.7% decline in 2011. The foreign wholesale trade index grew by 8.6% in the fourth quarter, an increase from the 6.6% growth in the third quarter. The expansion was partly due to resilient sales of petroleum & petroleum products. For the whole of 2012, the foreign wholesale trade index expanded by 9.1%, faster than the 4.3% increase in 2011.

In the fourth quarter of 2012, retail sales volume declined by 2.0%, extending the 0.3% decline in the third quarter. Excluding motor vehicles, retail sales volume grew by 0.4%, a slight moderation compared to the 1.5% gain in the third quarter of 2012. The sales volume of motor vehicles fell by 11% in the fourth quarter of 2012, after contracting by 6.1% in the third quarter. The sales of several discretionary items also declined in the fourth quarter. Besides, the sales of optical goods & books in 2012 fell by 3.6%, while the sales of telecommunications apparatus & computers declined by 1.4%. 

For 2012 as a whole, retail sales volume grew by 1.3%, compared to the 2.0% expansion in 2011. Excluding motor vehicle sales, the increase in retail sales volume also moderated from 5.4% in 2011 to 1.7% in 2012. Medical goods & toiletries registered the largest increase (9.3%) in sales, followed by telecommunications apparatus & computers (6.9%). By contrast, the sales of watches & jewellery (-2.2%) and optical goods & books (-3.6%) declined.

OVERALL INDUSTRY OUTLOOK : AVERAGE GROWTH



CREDIT RISK EVALUATION & RECOMMENDATION

 

 


Incorporated in 2006, the SC is a Private Limited company, focusing on trading of rubber. Having been in business for more than 5 years, the SC has established a remarkable clientele base for itself which has contributed to its business growth. Having strong support from its shareholders has enabled the SC to remain competitive despite the challenging business environment. The capital standing of the SC is fair. With an adequate share capital, the SC has the potential of expanding its business in future. 


Over the years, the SC has penetrated into both the local and overseas market. The SC has positioned itself in the global market and is competing in the industry. Its stable clientele base will enable the SC to further enhance its business in the near term. Being a small company, the SC's business operation is supported by 3 employees. Overall, we regard that the SC's management capability is average. This indicates that the SC has greater potential to improve its business performance and raising income for the SC.


The SC's business performance showed a reverse trend as both its turnover and pre-tax profit have decreased compared to the previous year. Return on shareholders' funds of the SC was at an acceptable range which indicated that the management was efficient in utilising its funds to generate income. The SC is in good liquidity position with its current liabilities well covered by it current assets. Hence, it has sufficient working capital to meet its short term financial obligations. The high gearing ratio clearly implied that the SC was supported by more debt than equity. Thus, the SC is exposed to high financial risk. Given a positive net worth standing at USD 5,628,038, the SC should be able to maintain its business in the near terms.


Having a strong assets backing, the SC possesses latent assets as collateral for further financial extension. Hence, it has good chance of getting loans if the needs arises. 


The industry shows an upward trend and this trend is very likely to sustain in the near terms. Hence, the SC is expected to benefit from the favourable outlook of the industry.


Based on the above condition, we recommend credit be granted to the SC promptly.

 




PROFIT AND LOSS ACCOUNT

 

 

THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL REPORTING STANDARDS.

R1 DELTA CIS PTE. LTD.

 

Financial Year End

2012-12-31

2011-09-30

Months

15

12

Consolidated Account

Company

Company

Audited Account

YES

YES

Unqualified Auditor's Report (Clean Opinion)

YES

YES

Financial Type

FULL

FULL

Currency

USD

USD

TURNOVER

129,322,208

177,257,922

----------------

----------------

Total Turnover

129,322,208

177,257,922

Costs of Goods Sold

<122,700,324>

<170,526,783>

----------------

----------------

Gross Profit

6,621,884

6,731,139

----------------

----------------

PROFIT/(LOSS) FROM OPERATIONS

1,489,694

2,119,304

----------------

----------------

PROFIT/(LOSS) BEFORE TAXATION

1,489,694

2,119,304

Taxation

<250,341>

<407,612>

----------------

----------------

PROFIT/(LOSS) AFTER TAXATION

1,239,353

1,711,692

----------------

----------------

RETAINED PROFIT/(LOSS) BROUGHT FORWARD

As previously reported

3,738,685

2,026,993

----------------

----------------

As restated

3,738,685

2,026,993

----------------

----------------

PROFIT AVAILABLE FOR APPROPRIATIONS

4,978,038

3,738,685

DIVIDENDS - Ordinary (paid & proposed)

<350,000>

-

----------------

----------------

RETAINED PROFIT/(LOSS) CARRIED FORWARD

4,628,038

3,738,685

=============

=============

INTEREST EXPENSE (as per notes to P&L)

Term loan / Borrowing

218,540

332,348

Others

624,347

1,130,693

----------------

----------------

842,887

1,463,041

 

BALANCE SHEET

 

 

 

ASSETS EMPLOYED:

FIXED ASSETS

3,851

1,018

----------------

----------------

TOTAL LONG TERM ASSETS

3,851

1,018

CURRENT ASSETS

Stocks

571,774

742,289

Trade debtors

14,911,968

13,507,616

Other debtors, deposits & prepayments

6,763,693

-

Cash & bank balances

3,814,293

1,386,241

Amount owing by shareholders

-

30,396

----------------

----------------

TOTAL CURRENT ASSETS

26,061,728

15,666,542

----------------

----------------

TOTAL ASSET

26,065,579

15,667,560

=============

=============

CURRENT LIABILITIES

Other creditors & accruals

448,799

416,031

Short term borrowings/Term loans

7,853,194

1,445,786

Other liabilities & accruals

806,949

880,663

Amounts owing to holding company

11,059,276

7,807,909

Provision for taxation

269,323

378,486

----------------

----------------

TOTAL CURRENT LIABILITIES

20,437,541

10,928,875

----------------

----------------

NET CURRENT ASSETS/(LIABILITIES)

5,624,187

4,737,667

----------------

----------------

TOTAL NET ASSETS

5,628,038

4,738,685

=============

=============

SHARE CAPITAL

Ordinary share capital

1,000,000

1,000,000

----------------

----------------

TOTAL SHARE CAPITAL

1,000,000

1,000,000

RESERVES

Retained profit/(loss) carried forward

4,628,038

3,738,685

----------------

----------------

TOTAL RESERVES

4,628,038

3,738,685

----------------

----------------

SHAREHOLDERS' FUNDS/EQUITY

5,628,038

4,738,685

----------------

----------------

5,628,038

4,738,685

=============

=============

 

 

FINANCIAL RATIO

 

 

 

TYPES OF FUNDS

Cash

3,814,293

1,386,241

Net Liquid Funds

3,814,293

1,386,241

Net Liquid Assets

5,052,413

3,995,378

Net Current Assets/(Liabilities)

5,624,187

4,737,667

Net Tangible Assets

5,628,038

4,738,685

Net Monetary Assets

5,052,413

3,995,378

BALANCE SHEET ITEMS

Total Borrowings

7,853,194

1,445,786

Total Liabilities

20,437,541

10,928,875

Total Assets

26,065,579

15,667,560

Net Assets

5,628,038

4,738,685

Net Assets Backing

5,628,038

4,738,685

Shareholders' Funds

5,628,038

4,738,685

Total Share Capital

1,000,000

1,000,000

Total Reserves

4,628,038

3,738,685

LIQUIDITY (Times)

Cash Ratio

0.19

0.13

Liquid Ratio

1.25

1.37

Current Ratio

1.28

1.43

WORKING CAPITAL CONTROL (Days)

Stock Ratio

2

2

Debtors Ratio

42

28

Creditors Ratio

0

0

SOLVENCY RATIOS (Times)

Gearing Ratio

1.40

0.31

Liabilities Ratio

3.63

2.31

Times Interest Earned Ratio

2.77

2.45

Assets Backing Ratio

5.63

4.74

PERFORMANCE RATIO (%)

Operating Profit Margin

1.15

1.20

Net Profit Margin

0.96

0.97

Return On Net Assets

41.45

75.60

Return On Capital Employed

41.45

75.60

Return On Shareholders' Funds/Equity

22.02

36.12

Dividend Pay Out Ratio (Times)

0.28

0.00

NOTES TO ACCOUNTS

Contingent Liabilities

0

0





 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.06

UK Pound

1

Rs.101.15

Euro

1

Rs.84.95

 

 

INFORMATION DETAILS

 

Report Prepared by :

NNA

 

 

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 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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.