|
Report Date : |
29.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
GCL PRIVATE LIMITED (w.e.f.02.09.2013) |
|
|
|
|
Formerly Known
As : |
GCL INDIA PRIVATE LIMITED (w.e.f.28.07.1997) GIRISH CIRCULAR LOOMS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
A.419/420, 10th Main, 2nd Stage, Peenya Industrial Estate, Bangalore –
560058, Karnataka |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
03.04.1996 |
|
|
|
|
Com. Reg. No.: |
08-020217 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 37.400
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29263KA1996PTC020217 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRG00521D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Circular Waving Machines. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (34) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 468000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. The rating reflects stretched liquidity position of the company. On
account of high working capital blockage owing to stretched receivable levels,
as evidenced by negative free cash flows generated by the company and very
high utilization of working capital limits. However, trade relations are fair. Business is active. Payment terms
are reported to be slow but correct. The company can be considered for business dealings with some caution.
|
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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 |
Fund Based Limit: BB- |
|
Rating Explanation |
Moderate risk of default and high credit
risk. |
|
Date |
September 2012 |
|
Rating Agency Name |
ICRA |
|
Rating |
Non Fund Based Limits: A4 |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
September 2012 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office : |
A.419/420, 10th Main, 2nd Stage, Peenya Industrial Estate, Bangalore –
560058, Karnataka, India |
|
Tel. No.: |
91-80-28362500 (8 lines) |
|
Fax No.: |
91-80-28362525 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Regional Offices : |
Located at: · Delhi Kolkata Mumbai Ahmedabad |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Harish B Kamath |
||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||
|
Address : |
E-101, “Mangotree”, Townsend, Avalahalli, Yelahanka Hobli, Bangalore –
560064, Karnataka, India |
||||||||||||||||||||||||
|
Date of Birth/Age : |
11.11.1965 |
||||||||||||||||||||||||
|
Date of Appointment : |
03.04.1996 |
||||||||||||||||||||||||
|
DIN No.: |
00855083 |
||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Name : |
Mr. Kamath Girish Bhagirath |
||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||
|
Address : |
No. 25, “ Gurukiran”, 1st Main Road, NTI Layout, HIG Dollars Colony,
RMV 2nd Stage, Bangalore – 560094, Karnataka, India |
||||||||||||||||||||||||
|
Date of Birth/Age : |
10.04.1971 |
||||||||||||||||||||||||
|
Date of Appointment : |
20.05.1996 |
||||||||||||||||||||||||
|
DIN No.: |
00855127 |
||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Name : |
Mrs. Sangeetha Harish Kamath |
||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||
|
Address : |
E-101, “Mangotree”, Townsend, Avalahalli, Yelahanka Hobli, Bangalore –
560064, Karnataka, India |
||||||||||||||||||||||||
|
Date of Birth/Age : |
03.09.1965 |
||||||||||||||||||||||||
|
Date of Appointment : |
02.01.2009 |
||||||||||||||||||||||||
|
DIN No.: |
01191520 |
||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Harish B. Kamath |
|
1345000 |
|
Girish B. Kamath |
|
345000 |
|
Sangeetha H. Kamath |
|
2050000 |
|
|
|
|
|
Total |
|
3740000 |
AS ON 30.09.2013
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Directors
or relatives of directors |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Circular Waving Machines. |
PRODUCTION STATUS (AS ON 31.03.2013)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Circular Waving Machine |
Nos. |
NA |
-- |
624 |
|
Tape Extrusion Plant |
Nos. |
NA |
-- |
8 |
|
Conversion Machines |
Nos. |
NA |
-- |
30 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
Canara Bank, Specialised SME Branch, 473d, 13th Cross, IV
Phase, Peenya Industrial Area, Bangalore - 560058, Karnataka, India |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
K.P. Rao and Company Chartered Accountants |
|
Address : |
'Poornima', IInd Floor, 25, State Bank Road, Bangalore –
560001, Karnataka, India |
|
Tel. No.: |
91-80-25587385/ 25586814 |
|
Fax No.: |
91-80-25594661 |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFK7720M |
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 70.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3,740,000 |
Equity Shares |
Rs. 10/- each |
Rs. 37.400
Millions |
|
|
|
|
|
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3,740,000 |
Equity Shares |
Rs. 10/- each |
Rs. 37.400
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
37.400 |
37.400 |
28.100 |
|
(b) Reserves & Surplus |
79.522 |
70.942 |
74.642 |
|
(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) |
116.922 |
108.342 |
102.742 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
40.632 |
61.121 |
36.964 |
|
(b) Deferred tax liabilities (Net) |
19.857 |
18.528 |
14.614 |
|
(c) Other long
term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
12.223 |
12.823 |
0.000 |
|
Total Non-current
Liabilities (3) |
72.712 |
92.472 |
51.578 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
99.880 |
105.092 |
67.652 |
|
(b)
Trade payables |
153.273 |
125.509 |
0.000 |
|
(c)
Other current liabilities |
101.457 |
84.639 |
225.590 |
|
(d) Short-term
provisions |
4.150 |
2.365 |
9.361 |
|
Total Current
Liabilities (4) |
358.760 |
317.605 |
302.603 |
|
|
|
|
|
|
TOTAL |
548.394 |
518.419 |
456.923 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
74.125 |
79.874 |
80.678 |
|
(ii)
Intangible Assets |
1.303 |
1.628 |
0.000 |
|
(iii)
Capital work-in-progress |
91.263 |
56.797 |
4.372 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.495 |
0.495 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
59.611 |
47.194 |
0.000 |
|
(e) Other
Non-current assets |
60.288 |
54.881 |
49.270 |
|
Total Non-Current
Assets |
287.085 |
240.869 |
134.320 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
140.997 |
165.054 |
170.990 |
|
(c)
Trade receivables |
87.351 |
46.623 |
53.549 |
|
(d) Cash
and cash equivalents |
5.123 |
9.104 |
3.594 |
|
(e)
Short-term loans and advances |
10.776 |
35.088 |
22.764 |
|
(f)
Other current assets |
17.062 |
21.681 |
71.706 |
|
Total
Current Assets |
261.309 |
277.550 |
322.603 |
|
|
|
|
|
|
TOTAL |
548.394 |
518.419 |
456.923 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL (A) |
647.934 |
572.584 |
675.320 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
603.276 |
536.402 |
613.930 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
44.658 |
36.182 |
61.390 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
23.221 |
19.974 |
13.803 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
21.437 |
16.208 |
47.587 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
11.272 |
11.572 |
11.592 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
10.165 |
4.636 |
35.995 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.585 |
3.947 |
9.063 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
8.580 |
0.689 |
26.932 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
204.785 |
113.305 |
110.960 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Components and Spare Parts |
9.946 |
8.073 |
4.396 |
|
|
|
Capital Goods |
14.052 |
5.524 |
3.685 |
|
|
TOTAL IMPORTS |
23.998 |
13.597 |
8.081 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.29 |
0.18 |
9.58 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.32
|
0.12 |
3.99 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.23
|
1.01 |
7.95 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09
|
0.04 |
0.35 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.20
|
1.53 |
1.02 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.73
|
0.87 |
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 |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
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 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
90198511 |
18/11/2004 |
4,000,000.00 |
CANARA BANK |
SPE SSI BRANCH, PEENAYA
INDL AREA, BANGALORE - 560058, KARNATAKA, INDIA |
- |
|
2 |
90199777 |
18/11/2004 |
4,000,000.00 |
CANARA BANK |
SPECIALISED SSI
BRANCH, PEENYA INDUSTRIAL AREA, BANGALORE - 560058, KARNATAKA, INDIA |
- |
|
3 |
90198490 |
08/10/2004 |
12,000,000.00 |
CANARA BANK |
SPE SSI BRANCH,
PEENAYA INDL AREA, BANGALORE - 560058, KARNATAKA, INDIA |
- |
|
4 |
90197871 |
24/07/2013 * |
320,969,000.00 |
CANARA BANK |
SPECIALISED SSI
BRANCH, PEENYA INDUSTRIAL AREA, BANGALORE - 560058, KARNATAKA, INDIA |
B80825664 |
|
5 |
90199398 |
27/07/2005 * |
9,500,000.00 |
CANARA BANK |
SPE SSI BRANCH,
PEENAYA INDL AREA, BANGALORE - 560058, KARNATAKA, INDIA |
- |
|
6 |
90197856 |
21/11/2000 |
1,019,700.00 |
CANARA BANK |
SPE SSI BRANCH, PEENAYA
INDL AREA, BANGALORE - 560058, KARNATAKA, INDIA |
- |
|
7 |
90197617 |
10/12/1999 * |
36,700,000.00 |
CANARA BANK |
SPE SSI BRANCH,
PEENAYA INDL AREA, BANGALORE - 560058, KARNATAKA, INDIA |
- |
|
8 |
90197505 |
12/02/1999 |
12,282,000.00 |
CANARA BANK |
SPE SSI BRANCH,
PEENAYA INDL AREA, BANGALORE - 560058, KARNATAKA, INDIA |
- |
|
9 |
90199191 |
12/02/1999 |
12,282,000.00 |
CANARA BANK |
SPECIALISED SSI
BRANCH, PEENYA INDUSTRIAL AREA, BANGALORE - 560058, KARNATAKA, INDIA |
- |
|
10 |
90197179 |
12/02/1999 * |
9,600,000.00 |
CANARA BANK |
SPE SSI BRANCH,
PEENAYA INDL AREA, BANGALORE - 560058, KARNATAKA, INDIA |
- |
|
11 |
90198980 |
12/02/1999 * |
9,600,000.00 |
CANARA BANK |
SPECIALISED SSI BRANCH,
PEENYA INDUSTRIAL AREA, BANGALORE - 560058, KARNATAKA, INDIA |
- |
|
12 |
90198911 |
31/07/1996 |
178,000.00 |
ANZ GRINDLAYS
BANK |
RAHEJA TOWERS,
26; A. G. ROAD, BANGALORE - 560001, KARNATAKA, INDIA |
- |
* Date of charge modification
OPERATIONAL REVIEW
The Company has earned total income of Rs. 647.934 Millions as against
the previous year income of Rs. 572.584 Millions, which means there is an
increase in the earnings of the company by 13.16%. The Directors are confident
to increase the turnover of the Company during the current financial year.
FIXED ASSETS:
· Land
Buildings
Plant
and Machinery
Factory
Equipments
Motor
Vehicles
Furniture
and Fixture
Office
and Other Equipments
Electrical
Installation
Computers
Tools
and Dies
Technical
Know-how
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 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. 62.39 |
|
|
1 |
Rs. 101.80 |
|
Euro |
1 |
Rs. 84.75 |
INFORMATION DETAILS
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
34 |
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.