MIRA INFORM REPORT
|
Report Date : |
11.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
VIPPY INDUSTRIES LIMITED |
|
|
|
|
Registered
Office : |
28, Industrial Area, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
29.09.1973 |
|
|
|
|
Com. Reg. No.: |
10-001225 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 160.577 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L15142MP1973PLC001225 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BPLV00877C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCV1297N |
|
|
|
|
Legal Form : |
A Public Limited Liability company. The company’s Share are Listed on the
Stock Exchange. |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Soya Products. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 4000000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a satisfactory track record.
Trade relations are reported to be fair. Business is active. Payments are
reported to be usually correct and as per commitment The company can be considered for normal business dealings at usual
trade terms and condition. |
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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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 : |
28, Industrial Area, |
|
Tel. No.: |
91-7272-258545 / 258546 / 268821 |
|
Fax No.: |
91-7272-258552 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
28, 29 and 30 Industrial Area, A.B. Road, Dewas – 455001, Madhya
Pradesh, India |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Rahul Mutha |
|
Designation : |
Managing Director |
|
Address : |
Manas, 41, |
|
Date of Birth/Age : |
16.09.1965 |
|
Date of Appointment : |
01.02.1992 |
|
DIN No.: |
00424128 |
|
PAN No. : |
ACAPM7694L |
|
|
|
|
Name : |
Mr. Praneet Mutha |
|
Designation : |
Whole-time Director |
|
Address : |
Manas, 41, |
|
Date of Birth/Age : |
11.09.1971 |
|
Date of Appointment : |
31.10.2007 |
|
DIN No.: |
00424250 |
|
PAN No. : |
AFTPM5681H |
|
|
|
|
Name : |
Mr. Sajeve Deora |
|
Designation : |
Director |
|
Address : |
EC-13, Indrapuri, |
|
Date of Birth/Age : |
27.12.1959 |
|
Date of Appointment : |
30.10.2001 |
|
DIN No.: |
00003305 |
|
|
|
|
Name : |
Mr. Kadayya Savagaon |
|
Designation : |
Director |
|
Address : |
303, Aditya, Cosmos, Heritage, Ti Kuginiwadi, Thane – 4000610, |
|
Date of Birth/Age : |
15.03.1936 |
|
Date of Appointment : |
08.06.2001 |
|
DIN No.: |
00424393 |
|
|
|
|
Name : |
Mr. Shailendra Karnawat |
|
Designation : |
Director |
|
Address : |
E - 27/28 Sanket Nagar, Indore – 452018, Madhya Pradesh, India |
|
Date of Birth/Age : |
21.10.1960 |
|
Date of Appointment : |
07.02.2012 |
|
DIN No.: |
02850202 |
KEY EXECUTIVES
|
Name : |
Mr. Prakash Chakrawarti |
|
Designation : |
Secretary |
|
Address : |
156 – B, Laxman Nagar, Dewas, 455001, |
|
Date of Birth/Age : |
01.07.1975 |
|
Date of Appointment : |
15.09.2005 |
|
PAN No. : |
AFGPC3925H |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
Note : SHAREHOLDING DETAILS FILE ATTACHED
As on 30.06.2013
|
Category of
Shareholder |
No. of Shares |
% of No. of
Shares |
|
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
|
|
33375494 |
20.78 |
|
|
|
120299490 |
74.92 |
|
|
|
153674984 |
95.70 |
|
|
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
153674984 |
95.70 |
|
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
|
|
115665 |
0.07 |
|
|
|
1007721 |
0.63 |
|
|
|
7700 |
0.00 |
|
|
|
1131086 |
0.70 |
|
|
|
|
|
|
|
|
662040 |
0.41 |
|
|
|
|
|
|
|
|
3995539 |
2.49 |
|
|
|
873719 |
0.54 |
|
|
|
240228 |
0.15 |
|
|
|
240153 |
0.15 |
|
|
|
75 |
0.00 |
|
|
|
5771526 |
3.59 |
|
|
Total Public shareholding (B) |
6902612 |
4.30 |
|
|
Total (A)+(B) |
160577596 |
100.00 |
|
|
(C) Shares held by Custodians and against which Depository
Receipts have been issued |
0 |
0.00 |
|
|
|
0 |
0.00 |
|
|
|
0 |
0.00 |
|
|
|
0 |
0.00 |
|
|
Total (A)+(B)+(C) |
160577596 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Soya Products. |
||||||
|
|
|
||||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Sodani and Company Chartered Accountant |
|
Address : |
2, Ramkrishna Colony, Dewas Road, Ujjain – 456010, Madhya Pradesh,
India |
|
PAN.: |
AAFFS7590A |
|
|
|
|
Related Party : |
CIN No. U01112MP1995PLC010151
CIN No. L01710MP1992PLC007043 |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000000 |
Equity Shares |
Re.1/- each |
Rs. 250.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
160577596 |
Equity Shares |
Re.1/- each |
Rs. 160.577
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 |
|
160.578 |
160.578 |
|
(b) Reserves & Surplus |
|
842.253 |
726.039 |
|
(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) |
|
1002.831 |
886.617 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
20.759 |
20.759 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
2.500 |
19.700 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
23.259 |
40.459 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
331.528 |
210.920 |
|
(b) Trade
payables |
|
123.579 |
194.475 |
|
(c) Other
current liabilities |
|
18.235 |
8.280 |
|
(d) Short-term
provisions |
|
200.933 |
244.495 |
|
Total Current
Liabilities (4) |
|
674.275 |
658.170 |
|
|
|
|
|
|
TOTAL |
|
1700.365 |
1585.246 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
572.593 |
607.157 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
3.082 |
10.011 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
2.260 |
2.260 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
6.955 |
5.163 |
|
(e) Other
Non-current assets |
|
19.167 |
15.435 |
|
Total Non-Current
Assets |
|
604.057 |
640.026 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
487.560 |
479.099 |
|
(c) Trade
receivables |
|
148.861 |
143.727 |
|
(d) Cash
and cash equivalents |
|
437.101 |
291.904 |
|
(e)
Short-term loans and advances |
|
22.786 |
30.490 |
|
(f) Other
current assets |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
1096.308 |
945.220 |
|
|
|
|
|
|
TOTAL |
|
1700.365 |
1585.246 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
160.577 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
639.954 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
800.531 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
90.917 |
|
|
2] Unsecured Loans |
|
|
4.500 |
|
|
TOTAL BORROWING |
|
|
95.417 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
895.948 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
652.583 |
|
|
Capital work-in-progress |
|
|
3.235 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
2.260 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
176.475 |
|
|
Sundry Debtors |
|
|
194.533 |
|
|
Cash & Bank Balances |
|
|
122.524 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
121.334 |
|
Total
Current Assets |
|
|
614.866 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
201.981 |
|
|
Other Current Liabilities |
|
|
159.095 |
|
|
Provisions |
|
|
15.920 |
|
Total
Current Liabilities |
|
|
376.996 |
|
|
Net Current Assets |
|
|
237.870 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
895.948 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
9703.446 |
7647.374 |
7346.586 |
|
|
|
Other Income |
34.916 |
21.895 |
9.540 |
|
|
|
TOTAL (A) |
9738.362 |
7669.269 |
7356.126 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of material consumed |
8531.683 |
6708.399 |
|
|
|
|
Purchase of stock-in-trade |
166.319 |
104.907 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and
stock-in-trade |
(25.912) |
(81.999) |
7215.405 |
|
|
|
Employee benefit |
61.239 |
51.385 |
|
|
|
|
Other expenses |
754.182 |
667.556 |
|
|
|
|
TOTAL (B) |
9487.511 |
7450.248 |
7215.405 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
250.851 |
219.021 |
140.721 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
13.866 |
20.437 |
2.891 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
236.985 |
198.584 |
137.830 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
40.295 |
38.998 |
37.464 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
196.690 |
159.586 |
100.366 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
39.950 |
32.973 |
6.195 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
156.740 |
126.613 |
94.171 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.98 |
0.79 |
0.64 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.61
|
1.65 |
1.28 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.03
|
2.09 |
1.37 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.60
|
10.15 |
7.92 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20
|
0.18 |
0.12 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.35
|
0.26 |
0.12 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.63
|
1.44 |
1.63 |
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 |
Ye |
|
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 |
No |
|
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
UNSECURED
LOAN:
(Rs.
In Millions)
|
particular |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
Deferred payment liabilities |
20.759 |
20.759 |
|
Working capital loans from banks |
331.528 |
210.920 |
|
|
|
|
|
Total |
352.287 |
231.679 |
OPERATIONAL REVIEW
During the year, the Company achieved a turnover of Rs. 9738.362 Millions as against Rs. 7669.269 Millions in the previous year, representing an increase of 26.98 %. The Profit before Tax of Rs. 196.690 Millions during the year 2011-12 was higher by 23.18 % as against Rs. 159.586 Millions in the previous year. The Profit after tax of Rs. 156.740 Millions during the year 2011-12 was higher by 23.78 % as against Rs. 126.613 Millions in the previous year.
MANAGEMENT DISCUSSION
AND ANALYSIS REPORT
ECONOMY-OVERVIEW
The political instability in the Middle East and North Africa, rising international commodity prices, particularly crude, and the US debt and Euro-zone crises has accentuated concerns regarding the revival of the global economy. The Global Economy is slowly improving, but growth is expected to be weak, especially in Europe, and unemployment in many advanced economies will stay high, according to the IMF. The Indian economy is estimated to grow by 6.9% in 2011-12, after having growth at the rate of 8.4 % in each of the two preceding years. Agriculture and services sectors continuing to perform well, India's slowdown can be attributed almost entirely to weakening industrial growth. The hardening of crude oil prices in the international market, as well as domestic factors, such as the decision to battle inflation by tightening monetary policy and cutting back on the fiscal stimulus are the main reasons of slow down of the Indian Economy in the year 2011-12.
The slackening of external demand and capital outflows resulting from global uncertainties may pose inside risk to growth of the Indian Economy.
FUTURE OUTLOOK
The Foods processing Industry Sector in India is one of the largest in terms of production, consumption, export and growth prospects. The government has accorded it a high priority, with a number of fiscal reliefs and incentives, to encourage commercialization and value addition to agriculture produce, generating employment and export growth. India's food processing sector covers a wide range of products fruit, vegetables, meat and poultry, milk and milk products, alcoholic beverages, fisheries, plantation, grain processing and other consumer products groups like confectionery, chocolates and cocoa products, soya based products, high protein foods etc.
The domestic market is improving a lot. Some years back, the (DOC) De-oiled Cake consumption was 10% of the total production. But now it is 40%. It is increasing because of the rise in poultry population in the country, which in turn results in high consumption.
Exports of soya meal have great potential. For about 60% of production of soyameal, there is a ready market available in countries like Indonesia, China, Japan, Korea, and to a lesser extent some European nations
Rapid urbanization, increased literacy, changing life style, increased numbers of women in workforce, rising per capita income-leading to rapid growth and new opportunities in soya oil and other soya products.
In view of this, Company is continuously striving and shuffling its products mix to establish itself as a producer of Non-GMO Soya value added products not only in the India but in the global arena, the Company strategically transforming itself to be recognized name in soya products and show its presence in Indian Market as well as International Market.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
90203292 |
07/02/1997 |
6,572,024.00 |
MADHYA PRADESH STATE INDUSTRIAL DEVELOPMENT CORPOR |
PANCHANAN; 2ND FLOOR, MALVIYA NAGAR, BHOPAL, MADHYA PRADESH, INDIA |
- |
|
2 |
90203272 |
28/11/1996 |
17,315,791.00 |
MADHYA PRADESH STATE INDUSTRIAL DEVELOPMENT CORPOR |
PANCHANAN; 2ND FLOOR, MALVIYA NAGAR, BHOPAL, MADHYA PRADESH, INDIA |
- |
* Date of charge modification
FIXED ASSETS:
- Land
- Lease Hold
Land
- Plant and
Machinery
- Furniture and
Fixture
- Vehicles
- Motor
Vehicles
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. 62.14 |
|
|
1 |
Rs. 99.02 |
|
Euro |
1 |
Rs. 83.87 |
INFORMATION DETAILS
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
Yes |
|
--LITIGATION |
YES/NO |
No |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
No |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
No |
|
--EXPORT ACTIVITIES |
YES/NO |
No |
|
--AFFILIATION |
YES/NO |
Yes |
|
--LISTED |
YES/NO |
No |
|
--OTHER MERIT FACTORS |
YES/NO |
Yes |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
No |
|
--EPF |
YES/NO |
No |
|
TOTAL |
|
50 |
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.