|
Report Date : |
12.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
PRECAST INDIA INFRASTRUCTURES PRIVATE LIMITED |
|
|
|
|
Registered Office
: |
Plot No. 58, S No. 58, CDSA Campus, Paud Road, Bavdhan, Pune – 411021, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
11.12.2009 |
|
|
|
|
Com. Reg. No.: |
11-135144 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.9.500 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45209PN2009PTC135144 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEP14231A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAFCP2784C |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Supplier of Precast Concrete Elements |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1220000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. As per the available financial, it seems that company has recorded
huge loss during 2012. However, trade relations 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.
INDIAN ECONOMIC OVERVIEW
We are living in a
world where volatility and uncertainty have become the New Normal. We saw a
change of government in countries like Tunisia, Egypt, Libya and Vietnam. Once
powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve
their business models with the changing time. Readers’ Digest, Thomson Register
are no more !
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years
to double its economic output per person during its industrial revolution and
the US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years
respectively. By 2020, emerging Asia will become the world’s largest consuming
block, overtaking North America.
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial
years of the contagion but finally lost ground last year. GDP growth slowed
down. Currency has been weakening. There is a marked deceleration in agriculture,
industry and services. Dampening sentiment led to a cut-back in investment as
well as private consumption expenditure. Inflation remained at high
levels fuelled by the pressure from the food and fuel sectors. The large fiscal
and current account deficit s continued to cause grave concern. It is
imperative that India regains its growth trajectory of 8-9 % sooner than later.
This is crucially important given the need to create gainful livelihood
opportunities for the millions living in poverty as also the large contingent
of young people joining the job market every year.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
BB+ (SO): Long Term Rating |
|
Rating Explanation |
Have moderate risk of default. |
|
Date |
September 24, 2012 |
|
Rating Agency Name |
CARE |
|
Rating |
A4+ (SO): Short Term Rating |
|
Rating Explanation |
Have minimal degree of safety and carry high credit risk. |
|
Date |
September 24, 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.
INFORMATION DENIED
Management Non-Cooperative (91-20-22952960/ 8975759654)
LOCATIONS
|
Registered Office : |
Plot No. 58, S No. 58, CDSA Campus, Paud Road, Bavdhan,
Pune – 411021, Maharashtra, India |
|
Tel. No.: |
91-20-22952960 |
|
Fax No.: |
91-20-22952963 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on: 28.09.2012
|
Name : |
Mr. Ajit Vasant Bhate |
|
Designation : |
Managing Director |
|
Address : |
A 1/20, Kalpataru, Rambag Colony, Navi Peth, Near |
|
Date of Birth/Age : |
08.05.1963 |
|
Date of Appointment : |
12.12.2009 |
|
DIN No.: |
00087739 |
|
|
|
|
Name : |
Mr. Jaideep Prasannakumar Raje |
|
Designation : |
Director |
|
Address : |
27/12 Sagar Society, |
|
Date of Birth/Age : |
05.09.1962 |
|
Date of Appointment : |
11.12.2009 |
|
DIN No.: |
00087713
|
|
|
|
|
Name : |
Mr. Atul Ishwardas Chordia |
|
Designation : |
Director |
|
Address : |
S No. 37/1, Ghorpadi, Next to A.B.C Farm, Pune-411036, |
|
Date of Birth/Age : |
13.03.1965 |
|
Date of Appointment : |
12.12.2009 |
|
DIN No.: |
00054998 |
|
|
|
|
Name : |
Mr. Abhay Jaikumar Chordia |
|
Designation : |
Director |
|
Address : |
A-901, |
|
Date of Birth/Age : |
23.07.1968 |
|
Date of Appointment : |
12.12.2009 |
|
DIN No.: |
00055007
|
KEY EXECUTIVES
|
Name : |
Mr. Mayank Gupta |
|
Designation : |
Secretary |
|
Address : |
House No. 10/16, Sadar Bazar, Sagar – 470002, Madhya Pradesh, India |
|
Date of Birth/Age : |
15.02.1985 |
|
Date of Appointment : |
11.06.2012 |
|
PAN No.: |
ATPPG1687B |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 28.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Ajit Vasant Bhate |
|
500 |
|
Jaideep Raje |
|
500 |
|
A2Z Online Services Private Limited, |
|
47500 |
|
Bhate and Raje Construction Company Private Limited, |
|
46500 |
|
|
|
|
|
Total |
|
95000 |
Equity Share Break up (Percentage of Total Equity)
As on: 28.09.2012
|
Category |
|
Percentage |
|
Bodies corporate |
|
98.95 |
|
Directors or relatives of directors |
|
1.05 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Supplier of Precast Concrete Elements. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
|||||||||||||||||||||||||||||||||
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|
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Bankers : |
|
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
B B S R and Company Chartered Accountants |
|
Address : |
703, 7th Floor, Godrej Castlemaine, Next to Ruby Hall Clinic, Bund
Garden Road, Pune – 411001, Maharashtra, India |
|
PAN No.: |
AAKFB4397F |
|
|
|
|
Parties where
control exists : |
|
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.100/- each |
Rs.10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
95000 |
Equity Shares |
Rs.100/- each |
Rs.9.500 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
9.500 |
0.500 |
|
(b) Reserves & Surplus |
|
296.359 |
(9.645) |
|
(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) |
|
305.859 |
(9.145) |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
247.291 |
70.302 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.051 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.506 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
247.797 |
70.353 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short term borrowings |
|
136.286 |
380.922 |
|
(b) Trade payables |
|
19.564 |
10.491 |
|
(c) Other current liabilities |
|
113.933 |
56.929 |
|
(d) Short-term provisions |
|
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
|
269.783 |
448.342 |
|
|
|
|
|
|
TOTAL |
|
823.439 |
509.550 |
|
|
|
|
|
|
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
548.661 |
1.168 |
|
(ii) Intangible Assets |
|
0.955 |
0.000 |
|
(iii) Capital work-in-progress |
|
13.471 |
350.869 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
14.384 |
12.058 |
|
(e) Other Non-current assets |
|
9.550 |
30.082 |
|
Total Non-Current
Assets |
|
587.021 |
394.177 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
30.910 |
|
(b) Inventories |
|
44.589 |
0.000 |
|
(c) Trade receivables |
|
6.253 |
0.000 |
|
(d) Cash and cash equivalents |
|
86.241 |
9.417 |
|
(e) Short-term loans and advances |
|
95.666 |
75.046 |
|
(f) Other current assets |
|
3.669 |
0.000 |
|
Total Current
Assets |
|
236.418 |
115.373 |
|
|
|
|
|
|
TOTAL |
|
823.439 |
509.550 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
0.500 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
0.500 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
19.850 |
|
|
TOTAL BORROWING |
|
|
19.850 |
|
|
DEFERRED TAX LIABILITIES |
|
|
|
|
|
|
|
|
|
|
|
TOTAL |
|
|
20.350 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
0.000 |
|
|
Capital work-in-progress |
|
|
6.631 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
12.500 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000 |
|
|
Sundry Debtors |
|
|
0.000 |
|
|
Cash & Bank Balances |
|
|
1.429 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
0.014 |
|
Total
Current Assets |
|
|
1.443 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
0.479 |
|
|
Other Current Liabilities |
|
|
0.000 |
|
|
Provisions |
|
|
0.000 |
|
Total
Current Liabilities |
|
|
0.479 |
|
|
Net Current Assets |
|
|
0.964 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.255 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
20.350 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operation |
|
48.241 |
0.000 |
|
|
|
Other Income |
|
6.812 |
2.932 |
|
|
|
TOTAL (A) |
|
55.053 |
2.932 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
|
32.791 |
0.000 |
|
|
|
Changes in inventories of work in progress and finished goods |
|
(16.017) |
0.000 |
|
|
|
Employee benefits expense |
|
9.728 |
0.300 |
|
|
|
Other expenses |
|
39.459 |
12.053 |
|
|
|
TOTAL (B) |
|
65.961 |
12.353 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
(10.908) |
(9.421) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
9.597 |
0.042 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
(20.505) |
(9.463) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
14.552 |
0.130 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
|
(35.057) |
(9.593) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
(0.051) |
0.052 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
|
(35.006) |
(9.645) |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
|
22.468 |
90.618 |
|
|
TOTAL IMPORTS |
|
22.468 |
90.618 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
|
(4402.72) |
(1923.55) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(63.59) |
(328.96) |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(72.40) |
0.00 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(4.33) |
(6.05) |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.11) |
1.05 |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.25 |
(49.34) |
39.70 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.88 |
0.26 |
3.01 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT
MATURITIES OF LONG-TERM DEBT DETAILS – 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 two years |
Yes |
|
12] |
Profitability for last two 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] |
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 31.03.2012 |
As on 31.03.2011 |
|
LONG TERM
BORROWINGS |
|
|
|
A2Z Online Services Private Limited |
0.000 |
3.804 |
|
Bhate and Raje Construction Company Private Limited |
0.000 |
14.276 |
|
SHORT TERM
BORROWINGS |
|
|
|
A2Z Online Services Private Limited |
3.804 |
187.662 |
|
Bhate and Raje Construction Company Private Limited |
14.276 |
193.040 |
|
A2Z Online Services Private Limited |
50.000 |
0.000 |
|
Bhate and Raje Construction Company Private Limited |
50.000 |
0.000 |
|
|
|
|
|
Total |
118.080 |
398.782 |
Note:
Terms of
redemption/conversion:
15% Unsecured Optionally Fully Convertible Debentures of Rs.10.000 Millions each were alloted on 20th March 2012. These debentures are convertible into equity shares on 31st March 2015. The debentures shall provide following options to the holders of the issue:
Put option: September 30, 2013 the option shall be exercised by giving 30 days prior notice.
Call option: Any time after September 30, 2013 by giving 30 days prior notice.
If the conversion option is not exercised by the debenuture holders the said debentures would be redeemed by the Company on 31 March 2015 at face value and in case of conversion, the conversion will happen into equivalent number of equity shares at face value.
The above debentures have been issued by the Company to Bhate and Raje Construction Company Private Limited and A2Z Online Services Private Limited in lieu of the unsecured loans due to them.
OPERATIONS
During the year the Company has earned revenue of Rs. 48.200 Millions during the Financial Year 2011-12 as the Company started its commercial operations in December, 2011.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10372200 |
31/07/2012 |
2,300,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B56263973 |
|
2 |
10434884 |
31/07/2012 |
2,433,500.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B63939664 |
|
3 |
10351365 |
10/04/2012 |
1,085,492.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B38071825 |
|
4 |
10353007 |
22/03/2012 |
1,012,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W |
B38702999 |
|
5 |
10353008 |
22/03/2012 |
2,266,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B38703856 |
|
6 |
10280374 |
28/03/2011 |
580,000,000.00 |
State Bank of India |
INDUSTRIAL FINANCE BRANCH, TARA CHAMBERS,, MUMBAI-PUNE ROAD, WAKADEWADI, PUNE, MAHARASHTRA - 411003, INDIA |
B10299949 |
FIXED ASSETS
Tangible 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 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.61.16 |
|
|
1 |
Rs.97.77 |
|
Euro |
1 |
Rs.82.78 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
27 |
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.