MIRA INFORM REPORT
|
Report Date : |
18.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
CHEMITHON ENGINEERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Shivanand ‘A’, 372-374, S.V. Road, Goregaon (West), Mumbai-400104,
Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
29.12.1989 |
|
|
|
|
Com. Reg. No.: |
11-054805 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.27.500
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29290MH1989PTC054805 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing of Chemical Processing Equipment i.e. Sulfonation
Process Equipment, Flue Gas Conditioning System (FGC) and Customized Process
Equipment For Various Process Industries. |
|
|
|
|
No. of Employees
: |
Information denied by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 362000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a joint venture with Chemithon Enterprise Inc., USA. It is an established company having satisfactory track record. The
company has failed to file its financial with government department for the
year 2013. As per available financial record of 2012, the rating takes into
consideration of the company small scale of operation, high working capital
intensity associated with the business and volatility in sales and
profitability margins. However, the company strength from significant experience and track
record of the promoters in the manufacture and design of chemical process
equipment’s. The rating also factor in improved operational performance in
FY12 which is reflected by healthy coverage indicators and satisfactory
gearing levels. Trade relations are reported as fair. Business is active. Payments are
reported to be slow but 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’s current
account deficit or CAD in April-June widened to 4.9 % of gross domestic
product. High imports of gold and oil led to a worsening of the trade deficit,
resulting in CAD jumping to $ 21.8 billion to the latest quarter from $ 16.9
billion in the corresponding quarter of the previous financial year. The
government aims to bring down CAD to 3.7 % or $ 70 billion, in 2013/14, from
4.8 % or $ 88.2 billion in 2012/13.
The finance ministry
has started preparations for Budget 2014/15. With general elections scheduled
to be held by May next year, there will only be an interim budget. The new
government will present the fiscal Budget.
The Supreme Court
has barred clinical trials for new drugs till a monitoring mechanism is put in
place to protect the lives of people on which the drugs are tested.
Mumbai has been
named the world’s second most honest city according to a survey on 15 cities
worldwide by Readers’ Digest magazine. Finnish capital Helsinki bagged the top
spot for the world’s most honest city while Lisbon, the capital of Portugal,
proved to be the least honest. The survey put hundreds of people to test
in four continents to find out just how honest they were by dropping wallets
and seeing how many would be returned.
3.7 % Growth of the
core sector in August, a seven month high. This takes the overall growth in
April-August this year to 2.3 % compared with 6.3 % in the corresponding period
next financial year.
$19 million
Estimated average spending by companies across the globe including India, on
social media this year, according to a global study by information technology
major Tata Consultancy Services. This will rise to $ 24 million in 2015.
Rising inflation,
fewer employment avenues and dwindling earnings are taking a toll on the
spending capacity in India. Over 72 % respondents from middle and lower middle
income families would be forced to slash their Diwali expenditure by 40 % and
on average spend nearly 25 % of their monthly salary on Diwali, according to a
survey by Assochem.
Analysts believe the
shutdown of the US government would have limited impact in sectors such as IT
or tourism that are dependent on Visa clearances.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
BB+ [Long Term Fund Based Bank Facilities] |
|
Rating Explanation |
Moderate risk at default and high credit risk |
|
Date |
01.03.2013 |
|
Rating Agency Name |
CARE |
|
Rating |
A4 [Short Term Non-Fund Based Bank Facilities] |
|
Rating Explanation |
Minimal degree at safety and very high credit risk. |
|
Date |
01.03.2013 |
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 DECLINED
MANAGEMENT NON CO-OPERATIVE [91-22-28741188]
LOCATIONS
|
Registered Office : |
Shivanand ‘A’, 372-374, S.V. Road, Goregaon (West), Mumbai-400104,
Maharashtra, India |
|
Tel. No.: |
91-22-28720331/28758354/28741188 |
|
Fax No.: |
91-22-28789755/28733619 |
|
E-Mail : |
DIRECTORS
AS ON 23.07.2012
|
Name : |
Mr. Sanjay Nandkumar Trivedi |
|
Designation : |
Managing Director |
|
Address : |
301, Skylark-A, Lokhandwala Complex, Andheri (West), Mumbai-400053,
Maharashtra, India |
|
Date of Birth/Age : |
09.11.1952 |
|
Date of Appointment : |
22.01.1990 |
|
Din No.: |
00016689 |
|
|
|
|
Name : |
Mrs. Anjani Sanjay Trivedi |
|
Designation : |
Director |
|
Address : |
301, Skylark-A, Lokhandwala Complex, Andheri (West), Mumbai-400053,
Maharashtra, India |
|
Date of Birth/Age : |
27.08.1956 |
|
Date of Appointment : |
15.08.1996 |
|
Din No.: |
00016779 |
|
|
|
|
Name : |
Ms. Tanvi Vinit Mehta |
|
Designation : |
Whole Time Director |
|
Address : |
301-302, Marathon Next Gen Era-1, Off. G.K. Kadma Marg, Lower Parel
(West), Mumbai-400013, Maharashtra, India |
|
Date of Birth/Age : |
31.08.1984 |
|
Date of Appointment : |
06.12.2010 |
|
Din No.: |
00016825 |
|
|
|
|
Name : |
Burton Russel Brooks |
|
Designation : |
Director |
|
Address : |
1845, Kilarney Way, Bellevue, United States, 98004 |
|
Date of Birth/Age : |
30.07.1929 |
|
Date of Appointment : |
02.02.2006 |
|
Din No.: |
01485473 |
|
|
|
|
Name : |
Walter Alexander Jessup |
|
Designation : |
Director |
|
Address : |
3603 SW, 106, TH ST, Seattle, United States, 98106 |
|
Date of Birth/Age : |
17.09.1946 |
|
Date of Appointment : |
02.02.2006 |
|
Din No.: |
01485725 |
KEY EXECUTIVES
|
Name : |
Dr. Ravindra Chintaman Phadke |
|
Designation : |
Secretary |
|
Address : |
206/B, Nirman Galaxy, Rajmata Jijabai Marg, Pump House, Andheri
(East), Mumbai-400093, Maharashtra, India |
|
Date of Birth/Age : |
27.01.1957 |
|
Date of Appointment : |
29.09.2006 |
|
Pan No.: |
AACPP2896F |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 23.07.2012
|
Names of Shareholders |
No. of Equity
Shares |
No. of
Preferences Shares |
|
Sanjay Nandkumar Trivedi |
67 |
-- |
|
Trivedi Enterprises Private Limited, India |
370017 |
-- |
|
Sanjay Nandkumar Trivedi and Anjani Sanjay Trivedi |
1029916 |
-- |
|
Anjani Sanjay Trivedi and Sanjay Nandkumar Trivedi |
400000 |
-- |
|
Prachi Sanjay Trivedi |
100000 |
-- |
|
Tanvi Vinit Mehta and Anjani Sanjay Trivedi |
100000 |
-- |
|
Sanjay Nandkumar Trivedi |
-- |
750000 |
|
|
|
|
|
TOTAL
|
2000000 |
750000 |
AS ON 23.07.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
18.50 |
|
Directors
or relatives of directors |
|
81.50 |
|
TOTAL |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Chemical Processing Equipment i.e. Sulfonation Process
Equipment, Flue Gas Conditioning System (FGC) and Customized Process
Equipment For Various Process Industries. |
GENERAL INFORMATION
|
No. of Employees : |
Information denied by the management. |
|||||||||||||||||||||||||||||||||
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Bankers : |
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Facilities : |
|
|||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
MZS and Associates Chartered Accountants |
|
Address : |
The Ruby, Level 9, North West Wing, Senapati Bapat Marg, Dadar (West),
Mumbai-400028, Maharashtra, India |
|
PAN No: |
AAKFM2006L |
|
|
|
|
Associates/Subsidiaries : |
Chemithon Technical Services Private Limited [U74210MH2005PTC154266] |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2250000 |
Equity Shares |
Rs.10/- each |
Rs.22.500 Millions |
|
750000 |
Preferences Shares |
Rs.10/- each |
Rs.7.500 Millions |
|
|
TOTAL
|
|
Rs.30.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2000000 |
Equity Shares |
Rs.10/- each
|
Rs.20.000
Millions |
|
750000 |
Preferences Shares |
Rs.10/- each |
Rs.7.500 Millions |
|
|
TOTAL |
|
Rs.27.500 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
27.500 |
20.000 |
|
(b) Reserves & Surplus |
|
63.016 |
43.130 |
|
(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) |
|
90.516 |
63.130 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a)
long-term borrowings |
|
9.545 |
13.295 |
|
(b) Deferred tax
liabilities (Net) |
|
0.920 |
0.000 |
|
(c)
Other long term liabilities |
|
0.000 |
0.000 |
|
(d)
long-term provisions |
|
9.842 |
5.148 |
|
Total
Non-current Liabilities (3) |
|
20.307 |
18.443 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
35.594 |
0.000 |
|
(b)
Trade payables |
|
50.227 |
18.099 |
|
(c)
Other current liabilities |
|
77.240 |
101.240 |
|
(d)
Short-term provisions |
|
3.872 |
1.170 |
|
Total
Current Liabilities (4) |
|
166.933 |
120.509 |
|
|
|
|
|
|
TOTAL |
|
277.756 |
202.082 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
84.653 |
57.732 |
|
(ii)
Intangible Assets |
|
0.497 |
0.000 |
|
(iii)
Capital work-in-progress |
|
9.774 |
2.476 |
|
(iv) Intangible assets under
development |
|
0.000 |
0.000 |
|
(b)
Non-current Investments |
|
0.100 |
0.100 |
|
(c)
Deferred tax assets (net) |
|
0.000 |
0.801 |
|
(d) Long-term Loan and Advances |
|
3.079 |
4.005 |
|
(e)
Other Non-current assets |
|
0.000 |
0.000 |
|
Total
Non-Current Assets |
|
98.103 |
65.114 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
79.004 |
50.722 |
|
(c)
Trade receivables |
|
53.533 |
34.736 |
|
(d)
Cash and cash equivalents |
|
13.869 |
23.169 |
|
(e)
Short-term loans and advances |
|
33.247 |
28.341 |
|
(f)
Other current assets |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
179.653 |
136.968 |
|
|
|
|
|
|
TOTAL |
|
277.756 |
202.082 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
20.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
40.638 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
60.638 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
54.749 |
|
|
2] Unsecured Loans |
|
|
7.500 |
|
|
TOTAL BORROWING |
|
|
62.249 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
122.887 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
54.692 |
|
|
Capital work-in-progress |
|
|
6.626 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
5.847 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
28.054 |
|
|
Sundry Debtors |
|
|
22.773 |
|
|
Cash & Bank Balances |
|
|
1.794 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
49.465 |
|
Total
Current Assets |
|
|
102.086 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
19.837 |
|
|
Other Current Liabilities |
|
|
2.637 |
|
|
Provisions |
|
|
23.890 |
|
Total
Current Liabilities |
|
|
46.364 |
|
|
Net Current Assets |
|
|
55.722 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
122.887 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
354.597 |
142.914 |
186.095 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
318.496 |
138.113 |
185.284 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
36.101 |
4.801 |
0.811 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
12.343 |
1.139 |
0.163 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
23.758 |
3.662 |
0.648 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
35.014 |
33.522 |
34.044 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
2.000 |
1.000 |
0.000 |
|
|
|
Proposed Dividend |
3.332 |
1.000 |
1.000 |
|
|
|
Tax on Proposed Dividend |
0.541 |
0.170 |
0.170 |
|
|
BALANCE CARRIED
TO THE B/S |
52.899 |
35.014 |
33.522 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
8.64 |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
6.70
|
2.56 |
0.35 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
13.47
|
2.42 |
0.52 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.40
|
0.07 |
0.01 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.50
|
0.21 |
1.03 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.07
|
1.14 |
2.20 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF CURRENT MATURITIES OF LONG TERM
DEBT: 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] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
INDEX OF CHARGES:
|
S.
No. |
Charge
ID |
Date
of Charge Creation/Modification |
Charge
amount secured |
Charge
Holder |
Address |
Service
Request Number (SRN) |
|
|
1 |
10206566 |
08/04/2013
* |
217,500,000.00 |
STATE
BANK OF INDIA |
SME GOREGAON
EAST BRANCH, 1ST FLOOR, KOHINOOR INDUSTRIAL ESTATE,WESTERN EXPRESS HIGHWAY,
MUMBAI - 400063, MAHARASHTRA, INDIA |
B73699522 |
|
|
2 |
90222548 |
16/10/1995 |
19,000,000.00 |
BANQUE
INDOZE |
RAMON
HOUSE, BACKBAY RECLAMATION, BOMBAY - 400006, MAHARASHTRA, INDIA |
- |
|
|
* Date of charge modification |
|
||||||
BUSINESS PERFORMANCE:
The company's
export performance and growth reflects the efforts made to develop business in
the regional markets.
The company has
also successfully completed supplies for diversified projects including plants
for Specialty Surfactants and Alkoxylates during the year.
BUSINESS PROSPECTS:
The fabric care
and detergent markets have steady growth of 7-8% p.a. while personal products
have shown sufficient growth of 18-20% p.a. These markets provide growth for
continuous process plants made by the company. In future, new as well as repeat
orders are expected from Indian customers and International companies who are
setting up businesses in India. A robust order position including BASF order
indicates the positive growth drivers.
The company has
established over 27 Flue Gas plants at 5 SEBS and has established a leadership
position for control of particulate emission from Coal based Thermal Power
Plants. This should provide sustainable business in future.
Research and
Development of game changing technologies remain a key objective for the
company in the coming years. Their company plans to setup an R and D facility
at Dahej to support future business growth. Sustainable and Green Surfactants
developed by the company are expected to generate regular business for the
company.
The growth target
for the company is to increase business by 25% per year. The organization is
being restructured to meet these growth objectives.
FIXED ASSETS:
- Freehold Lan
- Factory
Building
- Plant and
Machinery
- Furniture and
Fixtures
- Electrical
Equipment
- Computer
- Air
Conditioner
- Vehicles
- Office
Premises
- Cellular
Phone
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.63.06 |
|
UK Pound |
1 |
Rs.101.15 |
|
Euro |
1 |
Rs.84.95 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--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 |
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
43 |
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.