|
Report Date : |
19.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
RAYMOND UCO DENIM PRIVATE LIMITED (w.e.f. 20.06.2006) |
|
|
|
|
Formerly Known
As : |
UCO RAYMOND DENIM PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
New Hind House, Narottam Morarji Marg, Ballard Estate, Fort, Mumbai –
400001, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
26.06.2006 |
|
|
|
|
Com. Reg. No.: |
11-162450 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.443.344 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17115MH2006PTC162450 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
NPGU01513B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACU8272H |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Denim Fabrics and Garments. |
|
|
|
|
No. of Employees
: |
Not Available |
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 7620000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a joint venture between “Raymond’s Limited” and “UCONV,
Belgium”. It is an established company having a satisfactory track record. The company
is processing well. The rating also take into consideration the company’s
brand image and market position. Trade relations are reported as fair.
Business is active. Payments are reported to be slow but correct. The company can be considered normal for business dealings at usual
traded 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.
ECGC Country Risk Classification List – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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 |
ICRA |
|
Rating |
BBB- (Long Term) |
|
Rating Explanation |
Moderate degree of safety. It carry moderate
risk. |
|
Date |
January 07, 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
A3 (Short Term) |
|
Rating Explanation |
Moderate degree of safety. It carry moderate
credit risk. |
|
Date |
January 07, 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 (91-22-22686000)
LOCATIONS
|
Registered Office : |
New Hind House, Narottam Morarji Marg, Ballard Estate, Fort, Mumbai –
400001, Maharashtra, India |
|
Tel. No.: |
91-22-40368323/ 40366152/ 22686000/ 40367000 |
|
Fax No.: |
91-22-25349958/ 22620052/ 25337761 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branch Office : |
Jekegram, Pokhran Road No.1, Thane – 400606, Maharashtra, India |
|
Tel. No.: |
91-22-40368323/ 40367000/ 61528312 |
|
Fax No.: |
91-22-25349958/ 25337761 |
|
|
|
|
Plant : |
Plot No.C-1, MIDC, Lohara, Yavatmal – 445001, Maharashtra, India |
|
Tel. No.: |
91-7232-304500/ 304545 |
|
Fax No.: |
91-7232-249237 |
|
|
|
|
Overseas Office : |
Located at: ¯ United States of America ¯ Belgium ¯ Romania |
DIRECTORS
As on: 12.08.2013
|
Name : |
Dr. Vijaypat Singhania |
|
Designation : |
Director |
|
Address : |
J.K. House, 59 A, Bhulabhai Desai Road, Mumbai – 400026, Maharashtra,
India |
|
Date of Birth/Age : |
04.10.1938 |
|
Date of Appointment : |
12.06.2007 |
|
DIN No.: |
00020063 |
|
|
|
|
Name : |
Mr. Gautam Hari Singhania |
|
Designation : |
Director |
|
Address : |
J.K. House, 59 A, Bhulabhai Desai Road, Mumbai – 400026, Maharashtra,
India |
|
Date of Birth/Age : |
09.09.1965 |
|
Date of Appointment : |
12.06.2007 |
|
DIN No.: |
00020088 |
|
|
|
|
Name : |
Mr. Pradeep Kumar Bhandari |
|
Designation : |
Director |
|
Address : |
Bunglow No.36, Neelkanth Woods Enclave B, Mullahbaug, Tikuji – Ni –
Wadi, Thane (West) - 400610, Maharashtra, India |
|
Date of Birth/Age : |
15.08.1957 |
|
Date of Appointment : |
12.06.2007 |
|
DIN No.: |
00021923 |
|
|
|
|
Name : |
Alain Vermeersch |
|
Designation : |
Director |
|
Address : |
Lagen Heirweg – 3, Laarne, Belgium – 9270 |
|
Date of Birth/Age : |
06.08.1956 |
|
Date of Appointment : |
12.06.2007 |
|
DIN No.: |
01559119 |
|
|
|
|
Name : |
Philippe Mtgmaa Vlerick |
|
Designation : |
Director |
|
Address : |
Ronse Vaalstaraat 2, Kortrijk, Belgium – 8510 |
|
Date of Birth/Age : |
08.06.1955 |
|
Date of Appointment : |
12.06.2007 |
|
DIN No.: |
01558258 |
|
|
|
|
Name : |
Mr. Prakash Sunder Advani |
|
Designation : |
Additional Director |
|
Address : |
36, Langestraat Kampenhout, Belgium 1910 |
|
Date of Birth/Age : |
16.12.1976 |
|
Date of Appointment : |
07.09.2012 |
|
DIN No.: |
05322952 |
KEY EXECUTIVES
|
Name : |
Mr. Pravin Rajendraprasad Jogani |
|
Designation : |
Secretary |
|
Address : |
C-505, Madhuvan Co-operative Housing Society Limited, Chipoli-Gorai
Road, Chikoowadi Borivali (West), Mumbai – 400921, Maharashtra, India |
|
Date of Birth/Age : |
31.05.1985 |
|
Date of Appointment : |
12.08.2013 |
|
PAN No.: |
AHKPJ8838L |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 12.08.2013
|
Names of Shareholders |
|
No. of Equity
Shares |
|
Raymond Limited, |
|
12157179 |
|
UCO NV |
|
12167179 |
|
Raymond Limited, India Jointly with H Sunder |
|
5000 |
|
Raymond Limited, India Jointly with Narayanan Ramalingam |
|
5000 |
|
Total |
|
24334358 |
|
Names of Shareholders |
|
No. of
Preferences Shares |
|
Raymond Limited, |
|
10000000 |
|
UCO NV |
|
10000000 |
|
|
|
|
|
Total |
|
20000000 |
Equity Share Break up (Percentage of Total Equity)
As on: 12.08.2013
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
50.00 |
|
Bodies corporate |
|
50.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Denim Fabrics and Garments. |
||||||||
|
|
|
||||||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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|
Bankers : |
|
||||||||||||||||||||||||
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|
||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Dalal and Shah Chartered Accountants |
|
Address : |
252, Veer
Savarkar Marg, Shivaji Park, Dadar, Mumbai – 400028, Maharashtra, India |
|
Tel. No.: |
91-22-66691000/ 66547800/ 66547801 |
|
Fax No.: |
91-22-66547801 |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFD0907D |
|
|
|
|
Subsidiary Company
: |
Uco Raymond Holding NV |
|
|
|
|
Joint Venture : |
CIN No.: L17117MH1925PLC001208
|
|
|
|
|
Related Parties : |
CIN No.: U99999MH1964PLC012865
CIN No.: U51102TN1987PLC014467
CIN No.: U18109TN2006PLC061384
CIN No.: U17120MH2004PLC149276
CIN No.: U72900MH2000PLC124912 |
CAPITAL STRUCTURE
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000000 |
Equity Shares |
Rs.10/- each |
Rs.250.000 Millions |
|
20000000 |
Preference Shares |
Rs.10/- each |
Rs.200.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.450.000 Millions
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
24334358 |
Equity Shares |
Rs.10/- each |
Rs.243.344 Millions |
|
20000000 |
Preference Shares |
Rs.10/- each |
Rs.200.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.443.344 Millions
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
443.344 |
443.344 |
443.344 |
|
(b) Reserves & Surplus |
1463.637 |
1133.687 |
1290.015 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
1906.981 |
1577.031 |
1733.359 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
414.069 |
1015.779 |
1236.346 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
0.100 |
0.100 |
0.100 |
|
(d) long-term provisions |
0.429 |
0.415 |
0.362 |
|
Total Non-current
Liabilities (3) |
414.598 |
1016.294 |
1236.808 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short term borrowings |
1567.306 |
1483.321 |
1256.665 |
|
(b) Trade payables |
547.746 |
502.637 |
937.316 |
|
(c) Other current liabilities |
936.197 |
467.989 |
363.333 |
|
(d) Short-term provisions |
31.353 |
24.702 |
20.873 |
|
Total Current
Liabilities (4) |
3082.602 |
2478.649 |
2578.187 |
|
|
|
|
|
|
TOTAL |
5404.181 |
5071.974 |
5548.354 |
|
|
|
|
|
|
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
2099.489 |
2283.960 |
2435.128 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
234.360 |
46.175 |
20.299 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
285.407 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
142.462 |
99.871 |
59.720 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
2476.311 |
2430.006 |
2800.554 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
1165.075 |
1084.260 |
1412.373 |
|
(c) Trade receivables |
1171.465 |
1140.966 |
862.310 |
|
(d) Cash and cash equivalents |
104.255 |
28.960 |
77.335 |
|
(e) Short-term loans and advances |
271.597 |
268.956 |
281.602 |
|
(f) Other current assets |
215.478 |
118.826 |
114.180 |
|
Total Current
Assets |
2927.870 |
2641.968 |
2747.800 |
|
|
|
|
|
|
TOTAL |
5404.181 |
5071.974 |
5548.354 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
3.1.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
7723.600 |
7401.800 |
5960.600 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
TOTAL EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
EXCEPATIONAL ITEMS |
355.500 |
140.200 |
61.800 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
NA |
(4385.539) |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
NA |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.04
|
1.58
|
1.44
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.95
|
1.06
|
1.07
|
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 |
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 |
No |
|
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 |
UNSECURED LOAN
(Rs.
In Millions)
|
Particular |
As on 31.03.2013 |
As on 31.03.2012 |
|
LONG-TERM
BORROWINGS |
|
|
|
Non-convertible debentures intercorporate |
49.446 |
307.500 |
|
Loans and advances from related parties |
0.000 |
294.250 |
|
|
|
|
|
Total |
49.446 |
601.750 |
FINANCIAL HIGHLIGHTS
In FY 2013 the Company’s Indian operations registered a growth of 5%. The revenue net of returns, discounts and excise duty was Rs. 7723.600 Millions (Previous Year: Rs. 7401.800 Millions). The Company’s export revenue also recorded growth and was Rs. 3807.400 Millions (Previous Year: Rs. 2909.100 Millions). During the year, the Company’s profit before tax and exceptional items was Rs. 355.500 Millions (Previous Year: Rs. 140.200 Millions).
OPERATIONAL
PERFORMANCE:
FABRIC OPERATION:
The Fabric Division has a manufacturing facility at Yavatmal for production of differentiated varieties of denim fabric. During the reporting period the Division has successfully done the de-bottlenecking of its manufacturing operations increasing fabric production by 4 lac meters. The year has been exceptionally good for the Company witnessing record price realization. Renewed thrust on exports, addition of high margin business and a strategic move to vacate unremunerative price points have paid expected dividends this year.
GARMENTING
OPERATIONS:
Garmenting Division operates the garmenting facility of Everblue Apparels Limited situated at Doddaballapur, near Bangalore under Job work Agreement. During the period under review, the division has produced 14.75 Lac pieces of jeans wear and has sold 14.67 Lac pieces including export of 6.14 Lac pieces despite lower than expected off-take of garments by brands. During the year reputed international brands were added to the customers list.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10251639 |
11/05/2011 * |
680,000,000.00 |
State Bank of India |
CORPORATE ACCOUNTS GROUP BRANCH, NEVILLE HOUSE, J .N. HEREDIA MARG, BALLARD ESTATE, MUMBAI, MAHARASHTRA - 400001, INDIA |
B13601604 |
|
2 |
10205340 |
15/01/2013 * |
2,580,000,000.00 |
BANK OF INDIA |
MUMBAI LARGE CORPORATE BRANCH, GROUND FLOOR, ORIENTAL BUILDING, 364, D. N. ROAD, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B66959776 |
|
3 |
10193025 |
19/06/2013 * |
2,580,000,000.00 |
STATE BANK OF INDIA |
CAG, 3RD FLOOR, NEVILLE HOUSE, J.N. HEREDIA MARG, BALLARD ESTATE, MUMBAI, MAHARASHTRA - 400001, INDIA |
B78108669 |
|
4 |
10032727 |
19/06/2013 * |
1,573,000,000.00 |
STATE BANK OF INDIA |
CAG BRANCH, 3RD FLOOR, NEVILLE HOUSE, 23, J.N. HEREDIA MARG, BALLARD ESTATE, MUMBAI, MAHARASHTRA- 400001, INDIA |
B78113529 |
* Date of charge modification
FIXED ASSETS:
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.62.63 |
|
|
1 |
Rs.101.06 |
|
Euro |
1 |
Rs.84.56 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
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 |
6 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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.