MIRA INFORM REPORT
|
Report Date : |
21.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
AMAR REMEDIES LIMITED |
|
|
|
|
Registered
Office : |
Block No. 3, 2nd Floor, Sane Guruji, Premises 386, S.V
Savarkar Marg, |
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|
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|
Country : |
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|
|
|
Financials (as
on) : |
31.06.2012 |
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|
|
|
Date of
Incorporation : |
18.04.1984 |
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|
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|
Com. Reg. No.: |
11-032687 |
|
|
|
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Capital
Investment / Paid-up Capital : |
Rs. 261.641 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L99999MH1984PLC032687 |
|
|
|
|
Legal Form : |
A Public Limited Liability company. The company’s Share are Listed on
the Stock Exchange. |
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|
|
|
Line of Business
: |
Subject is
engaged in the business of Manufacturing and Trading of Ayurvedic Products
and FMCG. |
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|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 10440000 |
|
|
|
|
Status : |
Good |
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|
|
|
Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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|
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|
Comments : |
Subject is an established company having god track record. Overall financial position of the company seems to be strong and
healthy. Trade relation reported to be fair. Business is active. Payment terms
are reported to be regular. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
|
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
We are living in a
world where volatility and uncertainty have become the New Normal. We saw
a change of government in countries like
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 |
Long term bank facilities A (Suspended) |
|
Rating Explanation |
Adequate credit quality and average credit risk. |
|
Date |
July 12, 2012 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities A1 (Suspended) |
|
Rating Explanation |
Very strong degree of safety and lowest credit risk. |
|
Date |
July 12, 2012 |
Reason for Suspension – Company has not furnished information.
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 PARTED BY
MANAGEMENT NON – COOPERATIVE (91-22-30999100)
LOCATIONS
|
Registered Office : |
Block No. 3, 2nd Floor, Sane Guruji, Premises 386, S.V Savarkar
Marg, Opposite Siddhivinayak Temple, Prabhadevi, Mumbai – 400025,
Maharashtra, India |
|
Tel. No.: |
91 -22- 3040 9100 |
|
Fax No.: |
91- 22 -3040 9120
/ 21 |
|
E-Mail : |
|
|
Website : |
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|
|
|
Head Office : |
B1, G – 01, Marathon Innova, Off Ganpatrao Kadam Marg,
Lower Parel, Mumbai – 400013, Maharashtra India |
|
|
|
|
Factory 1 : |
375/14, Kachigam,
Hill Industrial Estate, Zari Road, Daman and Diu - 396 210 (U.T.), India |
|
Tel. No.: |
91- 260- 3096897 |
|
Fax No.: |
91 260 2241125 |
|
|
|
|
Factory 2 : |
Survey No. 168/31, Dabhel Industrial Co-op. Society Limited, Dabhel,
Daman (UT) - 396219, India |
|
|
|
|
Factory 3 : |
Plot No.1051-1/2, Central Hope Town,
Selaqui, Dehradun – 248001 Uttarakhand, India |
DIRECTORS
As on: 31.06.2012
|
Name : |
Mr. Sagar P. Shah |
|
Designation : |
Managing Director |
|
|
|
|
Name : |
Mr. Rajiv M. Chitnis |
|
Designation : |
Whole Time Director |
|
|
|
|
Name : |
Mrs. Natasha S. Shah |
|
Designation : |
Non Executive Directors |
|
|
|
|
Name : |
Mrs. Pratima P. Shah |
|
Designation : |
Non Executive Directors |
|
|
|
|
Name : |
Mr. Gaurav M. Doshi |
|
Designation : |
Non Executive Independent Directors |
|
|
|
|
Name : |
Mr. Yusuf iqbal yusuf |
|
Designation : |
Non Executive Independent Directors |
|
|
|
|
Name : |
Mr. Dilip S. Mehta |
|
Designation : |
Non Executive Independent Directors |
|
|
|
|
Name : |
Mr. Jyotirmay P. Varma |
|
Designation : |
Non Executive Independent Directors |
|
|
|
|
Name : |
Mrs. Preeti A. Patel |
|
Designation : |
Non Executive Independent Directors |
KEY EXECUTIVES
|
Name : |
Mr. Jagdish Nagpal |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.06.2013
|
Category of Shareholders |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
6436182 |
24.60 |
|
|
6436182 |
24.60 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
6436182 |
24.60 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
1147783 |
4.39 |
|
|
1147783 |
4.39 |
|
|
|
|
|
|
4243365 |
16.22 |
|
|
|
|
|
|
5794958 |
22.15 |
|
|
6154018 |
23.52 |
|
|
2387844 |
9.13 |
|
|
1912528 |
7.31 |
|
|
475316 |
1.82 |
|
|
18580185 |
71.01 |
|
Total Public shareholding (B) |
19727968 |
75.40 |
|
Total (A)+(B) |
26164150 |
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) |
26164150 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged
in the business of Manufacturing and Trading of Ayurvedic Products and FMCG. |
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Products : |
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|
Brand Name : |
Ř "AMAR" Ř "SMILES" Ř "FRESH SMILES" |
PRODUCTION STATUSAS ON (31.06.2011)
|
Particulars |
Unit |
Installed Capacity |
Actual Production |
|
Oral Care |
M Tones |
51500 |
40175 |
|
Health Care |
M Tones |
23850 |
7350 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
NOTE : Long Term
Borrowing Details of Terms
Loan Nature of
Security Term Loan
aggregating to Rs. 391.491 millions are secured by way of first charge on
moveable and immoveable assets of the present and future of the company. Rate of Interest Rate of Interest
on above term loan varies from 14% to 15% Repayment Terms The above Term
loan will be repayable in structure monthly installment within five years
from the date of disbursement. Details of
Vehicle Loan Nature of
Security Term Loan
aggregating to Rs. 4.508 are secured by way of first charge on Vehicle assets
of the present and future of the company. Rate of Interest Rate of Interest
on above Vehicle loan varies from 14% to 15% Repayment Terms The above Vehicle Loan will be repayable in structure monthly
installment within five years from the date of disbursement. Short Term
Borrowing Details of Cash
Credit Nature of
Security Cash Credit
facilities are Secured by mortgage of fixed assets of the Company and
hypothecation of inventories and Book Debts of the company, both present and
future, along with mortgage flat of promoters. Rate of Interest Rate of Interest on above varies from 13.50% to 14.50% |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
M/s. Shyam C. Agrawal and Company Chartered Accountants |
|
Address : |
Mumbai, Maharashtra, India |
CAPITAL STRUCTURE
As on: 31.06.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000000 |
Equity Shares |
Rs.10/- each |
Rs.500.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
26164150 |
Equity Shares |
Rs.10/- each |
Rs. 261.641 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.06.2012 |
31.06.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
261.641 |
261.641 |
|
(b) Reserves & Surplus |
|
2349.781 |
1897.943 |
|
(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) |
|
2611.422 |
2159.584 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
506.911 |
275.215 |
|
(b) Deferred tax liabilities (Net) |
|
17.247 |
6.107 |
|
(c) Other long term
liabilities |
|
122.380 |
0.000 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
646.538 |
281.322 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
|
3147.324 |
2216.613 |
|
(b) Trade payables |
|
159.750 |
129.365 |
|
(c) Other current
liabilities |
|
142.600 |
9.871 |
|
(d) Short-term
provisions |
|
121.003 |
105.242 |
|
Total Current
Liabilities (4) |
|
3570.677 |
2461.091 |
|
|
|
|
|
|
TOTAL |
|
6828.637 |
4901.997 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
1645.622 |
1239.480 |
|
(ii) Intangible Assets |
|
1.373 |
0.000 |
|
(iii) Capital
work-in-progress |
|
0.000 |
112.896 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
6.567 |
6.568 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
400.078 |
231.432 |
|
(e) Other
Non-current assets |
|
18.610 |
23.262 |
|
Total Non-Current
Assets |
|
2072.250 |
1613.638 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
2330.389 |
1520.810 |
|
(c) Trade receivables |
|
1843.376 |
1394.040 |
|
(d) Cash and cash
equivalents |
|
86.471 |
116.417 |
|
(e) Short-term loans
and advances |
|
493.268 |
254.209 |
|
(f) Other current
assets |
|
2.883 |
2.883 |
|
Total Current Assets |
|
4756.387 |
3288.359 |
|
|
|
|
|
|
TOTAL |
|
6828.637 |
4901.997 |
|
SOURCES OF FUNDS |
|
|
31.06.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
261.641 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
1548.439 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
1810.080 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
1240.952 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
1240.952 |
|
|
DEFERRED TAX LIABILITIES |
|
|
3.244 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
3054.276 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
1153.823 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
4.070 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
1138.035 |
|
|
Sundry Debtors |
|
|
1080.162 |
|
|
Cash & Bank Balances |
|
|
34.616 |
|
|
Other Current Assets |
|
|
2.882 |
|
|
Loans & Advances |
|
|
181.470 |
|
Total
Current Assets |
|
|
2437.165 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
95.283 |
|
|
Other Current Liabilities |
|
|
388.021 |
|
|
Provisions |
|
|
85.610 |
|
Total
Current Liabilities |
|
|
568.914 |
|
|
Net Current Assets |
|
|
1868.251 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
28.132 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
3054.276 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.06.2012 |
31.06.2011 |
31.06.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
6743.708 |
5780.118 |
3691.638 |
|
|
|
Other Income |
20.782 |
10.175 |
18.843 |
|
|
|
TOTAL |
6764.490 |
5790.293 |
3710.481 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
4676.393 |
3777.434 |
|
|
|
|
Purchases of stock-in-trade |
759.370 |
880.083 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and
stock-in-trade and stores and spares |
(338.564) |
(90.615) |
|
|
|
|
Employee benefits expense |
161.260 |
126.908 |
|
|
|
|
Other expenses |
356.414 |
263.376 |
|
|
|
|
Exceptional Item |
50.312 |
0.000 |
|
|
|
|
TOTAL |
5665.185 |
4957.186 |
3020.563 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
1099.305 |
833.107 |
689.918 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
397.561 |
274.279 |
207.713 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
701.744 |
558.828 |
482.205 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
128.196 |
110.421 |
103.572 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
573.548 |
448.407 |
378.633 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
121.141 |
67.864 |
56.109 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
452.407 |
380.543 |
322.524 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1491.415 |
1171.280 |
909.366 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
30.000 |
30.000 |
30.000 |
|
|
|
Dividend |
-- |
26.164 |
26.164 |
|
|
|
Tax on Dividend |
-- |
4.244 |
4.446 |
|
|
BALANCE CARRIED
TO THE B/S |
1913.822 |
1491.415 |
1171.280 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export goods calculated on FOB basis |
272.886 |
80.182 |
81.641 |
|
|
TOTAL EARNINGS |
272.886 |
80.182 |
81.641 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
17.29 |
14.54 |
|
|
QUARTERLY /
SUMMARISED RESULTS
|
PARTICULARS |
30.09.2012 |
31.12.2012 |
31.03.2013 |
30.06.2013 |
|
Audited / UnAudited |
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
4th
Quarter |
|
Net Sales |
1524.300 |
1630.500 |
1309.800 |
451.500 |
|
Total Expenditure |
1363.400 |
1447.100 |
1219.500 |
531.500 |
|
PBIDT (Excl OI) |
161.000 |
183.400 |
90.300 |
(80.000) |
|
Other Income |
4.500 |
3.600 |
2.400 |
0.000 |
|
Operating Profit |
165.500 |
186.900 |
92.700 |
(80.000) |
|
Interest |
119.500 |
124.200 |
138.600 |
146.200 |
|
Exceptional Items |
0.000 |
0.000 |
(68.800) |
(41.600) |
|
PBDT |
46.000 |
62.800 |
(114.700) |
(267.700) |
|
Depreciation |
31.100 |
46.800 |
46.700 |
20.900 |
|
Profit Before Tax |
15.000 |
16.000 |
(161.400) |
(288.600) |
|
Tax |
2.500 |
2.800 |
0.000 |
0.000 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
12.500 |
13.300 |
(161.400) |
(288.600) |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
0.000 |
|
Net Profit |
12.500 |
13.300 |
(161.400) |
(288.600) |
KEY RATIOS
|
PARTICULARS |
|
31.06.2012 |
31.06.2011 |
31.06.2010 |
|
PAT / Total Income |
(%) |
6.69
|
6.57 |
8.69 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.48
|
7.74 |
10.26 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.41
|
9.37 |
10.53 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.22
|
0.21 |
0.21 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.40
|
1.15 |
0.69 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.33
|
1.34 |
4.28 |
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 |
No |
|
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 |
Yes |
|
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 |
Yes |
|
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 |
No |
|
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:
|
Particulars |
31.06.2012 [Rs.
in Millions] |
31.06.2011 [Rs.
in Millions] |
|
Long Term
Borrowing |
|
|
|
Other Borrowings From Bank |
251.519 |
119.714 |
|
|
|
|
|
Short Term
Borrowing |
|
|
|
Loans repayable
on demand |
|
|
|
From Bank |
1025.516 |
600.228 |
|
|
|
|
|
Total |
1277.035 |
719.942 |
INDEX CHARGES:
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10369539 |
25/07/2012 |
74,973,604.00 |
SREI Equipment Finance Private Limited |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA,
West Bengal - 700046, INDIA |
B45313988 |
|
2 |
10369972 |
28/06/2012 |
67,714,230.00 |
SIEMENS FINANCIAL SERVICES PRIVATE LIMITED
|
130, PANDURANG BUDHKAR MARG, WORLI, MUMBAI, Maharashtra - 400018, INDIA
|
B45468576 |
|
3 |
10367339 |
05/06/2012 |
74,971,961.00 |
SREI Equipment Finance Private Limited |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA,
West Bengal - 700046, INDIA |
B44445484 |
|
4 |
10360348 |
23/04/2012 |
60,000,000.00 |
SICOM LIMITED |
NIRMAL, 1ST FLOOR NARIMAN POINT, MUMBAI,
Maharashtra - 400021, INDIA |
B41515941 |
|
5 |
10343135 |
10/03/2012 * |
300,000,000.00 |
STATE BANK OF INDIA |
Industrial Finance Branch, Snehal Chambers,
Telli Gally, Andheri (East), Mumbai, Maharashtra - 400069, INDIA |
B36117323 |
|
6 |
10320227 |
08/10/2011 |
500,000,000.00 |
Axis Bank Limited |
Axis House, Gr. Flr., Bombay Dyeing Mills
Compound, Pandurang Budhkar Marg, Worli, Mumbai, Maharashtra - 400025, INDIA |
B26350249 |
|
7 |
10305675 |
26/09/2012 * |
400,000,000.00 |
Export-Import Bank of India |
Centre One Building, Floor 21, World Trade
Centre, |
B59375907 |
|
8 |
10284439 |
20/04/2011 |
80,000,000.00 |
SBI GLOBAL FACTORS LIMITED |
6TH FLOOR, METROPOLITAN BUILDING,
BANDRA-KURLA, COMPLEX, BANDRA(EAST), MUMBAI, Maharashtra - 400051, INDIA |
B11733110 |
|
9 |
10279039 |
17/03/2011 |
50,000,000.00 |
The Saraswat Co-op Bank Ltd |
Lower Parel Branch, Orbit Eternia, N M
Joshi Marg, |
B10240547 |
|
10 |
10272630 |
02/02/2011 |
200,000,000.00 |
THE RATNAKAR BANK LTD |
7-Rahimtoola House,, Homji Street,
Horniman, Fort, Mumbai, Maharashtra - 400001, INDIA |
B04746525 |
|
11 |
10264362 |
10/12/2010 |
150,000,000.00 |
Bank of India |
Mumbai Mid Corporate Branch,Bank of India Bldg.,
Mezzanine Floor, 70-80 Mahatma Gandhi Road Fort, Mumbai, Maharashtra -
400001, INDIA |
B00594572 |
|
12 |
10247958 |
28/10/2010 |
200,000,000.00 |
ICICI BANK LIMITED |
ICICI BANK TOWERS, BANDRA-KURLA COMPLEX,
MUMBAI, |
A97456065 |
|
13 |
10249533 |
21/10/2010 |
157,500,000.00 |
The Saraswat Co-op Bank Ltd |
Lower Parel Branch, Orbit Eternia, N M
Joshi Marg, |
A97297972 |
|
14 |
10172008 |
10/03/2012 * |
2,356,000,000.00 |
STATE BANK OF INDIA |
Industrial Finance Branch, Snehal
Chambers, Telli Gally, Andheri (East), Mumbai, Maharashtra - 400069, INDIA |
B35442417 |
|
15 |
10102290 |
20/04/2011 * |
80,000,000.00 |
SBI GLOBAL FACTORS LIMITED |
6TH FLOOR, METROPOLITAN BUILDING,
BANDRA-KURLA, COMPLEX, BANDRA(EAST), MUMBAI, Maharashtra - 400051, INDIA |
B11733490 |
|
16 |
10094205 |
12/03/2008 |
50,000,000.00 |
3i Infotech Trusteeship Services Limited |
3rd to 6th floor, International Infotech
Park, Tower No.5, Vashi Railway Station Complex, Vashi, Navi Mumbai,
Maharashtra - 400703, INDIA |
A34570523 |
|
17 |
10042375 |
15/04/2009 * |
876,000,000.00 |
STATE BANK OF INDIA |
MID CORPORATE LOAN ADMIN. UNIT, SHRI HARI
BUILDING, RTO LANE, FOUR BUNGALOWS, ANDHERI (WEST), MUMBAI, Maharashtra -
400053, INDIA |
A61366274 |
|
18 |
10043566 |
06/02/2007 |
65,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA,
Gujarat - 390015, INDIA |
A10980233 |
|
19 |
10012070 |
12/02/2007 * |
180,000,000.00 |
ICICI Bank Limited |
ICICI Towers, Bandra Kurla Complex, Bandra
(East), Mumbai, Maharashtra - 400051, INDIA |
A02900280 |
*
Date of charge modification
LITIGATION
DETAILS:
Case Details
Bench:- Bombay
|
Lodging No:- |
CAL/360/2013 |
Failing Date:- |
17.07.2013 |
Reg. No.:- |
CA/353/2013 |
Reg. Date:- |
07.08.2013 |
|
Petitioner:- TIRUMALA
BALAJI MOTORS PRIVATE LIMITED Respondent:- AMAR REMEDIES LIMITED Petn. Adv.: MAYUR S GALA District:- OUTSIDE
MAHARASHTRA |
|||||||
|
Bench:- SINGLE Status:- Pre-Admission Category :- COMPANY APPLN. U/SEC 433, 434, 439 OF COMPANIES ACT Last Date : 10.10.2013 Stage:- COMPANY PETITIONS FOR ADMISSION Last Coram:- ACCORDING
TO SITTING LIST |
|||||||
|
Act: Companies
Act and Rules 1956 Under Section :- 433(E)AND 434 |
|||||||
OPERATIONAL REVIEW
They take pride to inform you that,
in the span of 7 years by introducing a Plethora of Products, under 3 brands -
"AMAR", "SMILES" and "FRESH SMILES" in Domestic
and International markets and by taking a plunge into Premium Luxury Cosmetic
Products the Company has taken another upward step towards success and has
achieved the Total Income of Rs. 6764.489
millions in the year 2011-12 as compared to Rs. 5780.118 millions in previous year 2010-11, thereby reflecting as growth of
16.82% in the year 2011-12 as compared to previous year 2010-11. The Turnover,
PAT and PBDIT of the Company is also on upward graph and is representing
growth. The Turnover of Rs. 6743.708
millions registered in the year 2011-12 as compared to Rs. 5780.118 millions in previous year 2010- 11,
reflected growth by 16.67 % compared to previous year. The Company's PAT grew
by 18.88 % as compared to previous year. The PBDIT of the Company was on high
rise with an excellent growth by 37.99 % as compared to previous year.
The uninterrupted success is the result of extended contribution and
co-operation from Consumers, Bankers and Institutions, Distributors, Super
Stockist, C and F Agents, 3 Ultra Modern Plants located 2 at Daman and 1 at
Dehradun, and our Brands.
The management has
also given tremendous support to the Company with their expertise in respective
fields which has helped the Company to grow in this yet another year. However,
the management is of the view that, the economy is expected to face pressure
due to increase in raw material costs, high labor cost and increased packing
material costs, and hence will put in additional efforts in curtailing the
costs to maintain the bottom line.
Skin Care and Hair
Care have always been a rage and consumers are willing to spend more part of
their earnings towards luxurious lifestyle, thereby spending on Premium
Cosmetics, SPA treatments and Personal Care. Our firm, The Nature's Co. has
been engaged into fulfilling consumer demands and has successfully served variety
of consumers with its existing 9 Stores located at Premium Malls. The upward
demand curve and outstanding response from consumers has motivated The Nature's
Co. to launch additional 3 stores in FY 2011-12 - 1 at Bangalore- Phoenix
Market City, 2nd at Mumbai – Infinity Mall 2, Malad and 3rd at Mumbai - R-City
Mall, Ghatkopar. Mumbai has always been a centre for consumers intending to
live a luxurious lifestyle, thus supported by huge consumer demand and high
purchasing power, TNC launched total 3 stores in Mumbai in span of 3 years.
MANAGEMENT
DISCUSSION AND ANALYSIS REPORT
INDUSTRY STRUCTURE AND DEVELOPMENTS
FMCG OVERVIEW 2012
Current Scenario
The FMCG sector in
India is at present, the fourth largest sector with a total market size in excess
of USD 13 billion as of 2012. This sector is expected to grow to a USD 33
billion industry by 2015. Indian FMCG industry constitutes the largest segment
in India with considerable contribution to the GDP. It can be categorized into
primarily personal care, health care, home care and food and beverage.
In India, Personal
Care products traditionally only comprised of toothpaste, soaps and shampoos.
However, cosmetics such as beauty creams and lotions or even Oral Care products
such as mouthwash are fast gaining popularity in the Personal Care market.
Expenditure on these emerging products has shown exponential growth. Media
penetration and rising consciousness to global fashion and trends have sculpted
the course of consumer spending. Acted upon by the availability of
international products and aided with rising disposable income, the sector is
poised for further growth.
Some of the
challenges this sector is likely to face are:
- Increasing rate of inflation, which is likely to lead to higher
cost of raw materials.
- The standardization of packaging norms that is likely to be
implemented by the Government by Jan 2013 is expected to increase cost of
beverages, cereals, edible oil, detergent, flour, salt, aerated drinks and
mineral water.
- Steadily rising fuel costs, leading to increased distribution
costs.
- The present slow-down in the economy may lower demand of FMCG
products, particularly in the premium sector, leading to reduced volumes.
- The declining value of rupee against
other currencies may reduce margins of many Companies.
According to a
sector specific analysis of The Associated Chambers of Commerce and Industry of
India (ASSOCHAM) a sharp depreciation in the value of rupee and new packaging
norms from July 1 are going to have a drastic effect on the FMCG industry which
is likely to increase cost of regular products like biscuits, coffee, tea,
toiletries and personal care items by about 10 per cent and more by first
quarter of the next financial year. "All of these factors might pinch the FMCG
industry which will go for a fresh round of price hikes as they usher in the New Year," said Mr. Rawat.
"The sector might take a hit of about 10 to 15 per cent in sales including
the semi-urban and rural market as the burden might be shifted to the price-conscious
end consumers or else companies will have to opt for down satrading."
Many industry experts said that the consumption pattern will be moderate
as price sensitive Indian consumers will tighten their budget and keep a close
watch on their expenses and might even switch over to cheaper variants,
regional or local brands to save money. While nearly 35 out of 100 respondents
agreed that soaring inflation and
rising interest rates have been adversely impacting the margins of FMCG
companies. About 30 per cent said that interest
rates and inflation will abate gradually and the growth will continue despite
certain hiccups.
FMCG categories, with low per capita and low penetration level i.e. skin
care, shampoo, oral care, deodorant and packaged juices are the opportunities
for FMCG companies. While categories like soaps and detergents which have high
penetration level can also show healthy growth due to their low per capita
consumption. Rise in urban population
couple with improvement in urban income mix is positive for FMCG companies.
Urban market has higher appetite
for premiumisation. Apart from the better value growth in the urban market,
FMCG companies also enjoy launching
innovative premium growth. However, second
half of FY13 is likely to be hit by drought impacting rural incomes and demand.
Fitch, the global
ratings agency, has recently opined that Indian consumer spending is at its
weakest in seven years, they at FICCI,
believe that India's retail sector will become a USD 1.3 trillion opportunity
by 2020. By that time, there will be close to 200 cities with population of
over 0.5 million that will fuel retail growth. The estimated value of the
Indian retail sector is about USD 500 billion presently. Further, modern
retail, which currently stands at 5 percent, will grow about six times from the
current USD 27 billion to USD 220 Billion in the next 8 years. Fast moving
consumer goods (FMCG) majors, have on the other hand, have tried to enhance
distribution reach. FMCG firms have a lot to gain with the advent of
multi-channel retailing. However, the depth of retail FMCG collaboration will
be one of the key success factors for multi-channel retailing. It is imperative
for retailers and FMCG majors to collaborate for assortment planning,
replenishment, space planning and promotion as they have a lot to gain.
Fast moving
consumer goods (FMCG) companies reported a strong 15-20 per cent growth in
revenue for the June quarter, as the demand for daily-use items remained
buoyant despite inflationary pressure. Companies aided the process by pushing
offers and promotions aggressively, resulting in their advertising and sales
promotion expenditure remaining steady at 12-13 per cent of sales. Offers could
be found in categories such as soaps & detergents, hair oils and shampoos,
among other segments, as firms tried to keep the momentum going.
Analysts attribute
the single-digit growth in hair color to the fall in discretionary spending,
the first casualty in an inflationary scenario. "Consumers tend to keep out
items that are not pressing in nature.
The FMCG sector has traditionally grown at a very fast rate and has
generally out-performed the rest of the industry. Over the last one year,
however the rate of growth has slowed down and the sector has recorded sales
growth of just five per cent in the last four quarters.
Still, companies
are beginning to sound a note of caution as the dry spell continues into the
second half of the monsoon season. The weather office has declared 2012 a
drought year, meaning an impact on crop output and, hence, rural income and
demand. Analysts and companies alike expect the second half of 2012-13 to be
tough, as slowdown pangs begin to bother. "There is always a lag effect in
FMCG and that will begin to show in the second half," says Kaustubh
Pawaskar, FMCG analyst, Sharekhan.)
However, Slowdown
blues aren't plaguing fast-moving consumer goods companies. Sales and profits
for FMCG companies clocked yet another quarter of strong growth. This spurt was
not driven by product price increases alone; sales volumes showed that FMCG
products continued to fly off the shelves. Segment-wise, soaps and detergents
were robust. However, companies aren't gung-ho about the next few quarters,
following the uncertain monsoon. Poor rains deliver a double whammy - squeezing
consumer demand while rendering agri commodity inputs costlier. A weak rupee is
also playing spoilsport with key raw materials such as palm oil imported. Many
companies noted both future cost pressures and scepticism over near-term
consumer demand)
Growth of FMCG
The estimated value of the Indian retail sector is about USD 500 billion
presently. Further, modern retail, which currently stands at 5 percent, will
grow about six times from the current USD 27 billion to USD 220 Billion in the
next 8 years. It is believed that integrated multi-channel retailing will drive
consumption in India. A.T. Kearney has
estimated India's total retail market at $202.6 billion, is expected to grow at
a compounded 30 per cent over the next five
years. The share of modern retail is likely to grow from its current 2 per cent
to 15-20 percent over the next decade, analysts
feel.
Modern retailers have in the past tried to capitalize on this opportunity
by increasing their store presence across major cities. Fast moving consumer
goods (FMCG) majors, have on the other hand, have tried to enhance distribution
reach.
However, achieving
these robust growth projections requires the industry to look beyond the
conventional brick-and mortar stores, and
consider other avenues like digital and mobile sales. This is because
expensive real estate costs are already playing spoilsport for retailers. Real
estate costs, especially, high rentals that are in range of 10 - 15% of
revenue, render breaking even a daunting task. Retailers need to rethink their
business plans and shift a chunk of their sales from stores to alternate
low-cost channels. Digital sales points are increasingly becoming a preferred
option for retailers. Sales through digital channels, notably websites and
mobile applications, which at present are miniscule, will increase to 6-8 % of
the total modern retail, by amounting to about USD 13.3-17.6 Billion by 2020.
Time has also come
for a more robust and symbiotic relationship between retailers and FMCG
companies. FMCG firms have a lot to gain with the advent of multi-channel
retailing. However, the depth of retail FMCG collaboration will be one of the
key success factors for multi-channel retailing. It is imperative for retailers
and FMCG majors to collaborate for assortment planning, replenishment, space
planning and promotion as they have a lot to gain. However, the growth
potential for FMCG companies looks promising over the long-term horizon, as the
per-capita consumption of almost all products in the country is amongst the
lowest in the world. As per the Consumer Survey by KSA Technopak, of the total
consumption expenditure, almost 40% and 8% was accounted by groceries and
personal care products respectively. Around 45% of the population in India is
below 20 years of age and the proportion of the young population is expected to
increase in the next five years. Aspiration levels in this age group have been
fuelled by greater media exposure, unleashing a latent demand with more money
and a new mindset. In this backdrop, industry estimates suggest that the
industry could triple in value by 2015.
Testing times for
the FMCG sector are over and driving rural penetration will be the key going
forward as earlier, due to infrastructure constraints (this influences the
cost-effectiveness of the supply chain), companies were unable to grow faster.
The bottlenecks of
the conventional distribution system are likely to be removed once organized
retailing gains in scale. Currently, organized retailing accounts for just 3%
of total retail sales and is likely to touch 10% over the next 3-5 years. In
our view, organized retailing results in discounted prices, forced-buying by
offering many choices and also opens up new avenues for growth for the FMCG
sector.
India is rated as the fifth most attractive emerging retail market. It
has been ranked second in a Global Retail Development Index of 30 developing
countries drawn up by A T Kearney.
India is one of
the world's largest producers for a number of FMCG products but its FMCG
exports are languishing at around Rs 10000.000 millions only. There is significant potential for increasing
exports but there are certain factors inhibiting this –
Export -
"Leveraging the Cost Advantage"
Cheap labor and quality
product and services have helped India to represent as a cost ad-vantage over
other Countries. Even the Government has offered zero import duty on capital
goods and raw material for 100% export oriented units. Multi National Companies
out-source its product requirements from its Indian company to have a cost
advantage. India is the largest producer of livestock, milk, sugarcane,
coconut, spices and cashew apart from being the second largest producer of
rice, wheat, fruits and vegetables. It adds a cost advantage as well as easily
available raw materials.
Sectoral
Opportunities
Major Key Sectoral
opportunities for Indian FMCG Sector are mentioned below:
Dairy Based
Products
India is the
largest milk producer in the world, yet only around 15 per cent of the milk is
processed. The organized liquid milk business is in its infancy and also has
large long-term growth potential. Even investment opportunities exist in
value-added products like desserts, puddings etc.
Packaged Food
Only about 10-12
per cent of output is processed and consumed in packaged form, thus
highlighting the huge potential for expansion of this industry.
Oral-Care
The oral care industry, especially toothpastes, remains under penetrated
in India with penetration rates around 50 per cent. With rise in per capita
incomes and awareness of oral hygiene, the growth potential is huge. Lower
price and smaller packs are also likely to drive potential up trading
Ayurvedic and
Wellness Care
Ayurvedic
treatments are 5,000 years old in India with the bulk of the ayurvedic
treatment market concentrated in South India, mostly in Kerala. PE firms are
also investing in this space while mergers with ayurveda pharmacies are also
taking place. Ayurvedic market (which is a part of the Beauty and Rejuvenation
market) is estimated at INR 40 Billion in 2009. India is a popular destination
for ayurvedic therapies leading to a large number of foreign tourists visiting
local spas and ayurvedic treatment centers. Inbound medical tourism in India is
therefore growing at a 12 percent CAGR.
The State
government of Kerala also has taken certain initiatives to encourage Ayurvedic
spas and resorts as a tourist destination. Spas in Kerala receive government
approval when they are set up. Ayurveda centres which are approved/ certified
by the State Department of Tourism are eligible for claiming 10 percent state
investment subsidy or electric tariff concession are considered during
publicity and promotional activities through print and electronic media by the
Department Kerala Government and has even collaborated with large private
players in order to develop resort spas. In order to attract tourists into
India, the Government has introduced various schemes and to implement them it
has also tied up with leading wellness centers. Tourism ministry launched a
promotional scheme offering one night free stay at a spa centre in India if a
tourist books three nights at a certain wellness centers
The following
factors make India a competitive player in FMCG sector:
Availability of
raw materials
Because of the
diverse agro-climatic conditions in India, there is a large raw material base
suitable for food processing industries. India is the largest producer of livestock,
milk, sugarcane, coconut, spices and cashew and is the second largest producer
of rice, wheat and fruits & vegetables. India also produces caustic soda
and soda ash, which are required for the production of soaps and detergents.
The availability of these raw materials gives India the location advantage.
Presence across
value chain
Indian companies
have their presence across the value chain of FMCG sector, right from the supply
of raw materials to packaged goods in the food-processing sector. This brings
India a more cost competitive advantage. For example, Amul supplies milk as
well as dairy products like cheese, butter, etc.
Opportunities
- Untapped rural market
- Rising income levels, i.e. increase in
purchasing power of consumers
- Large domestic market- a population of over
one billion.
- Export potential
- High consumer goods spending
OUTLOOK ON THREATS
OF THE INDUSTRY
FMCG Industry does
not have any measures which can control the entry of new firms. The resistance
is very low and the structure of the industry is so complex that new firms can
easily enter and also offer tough competition due to cost effectiveness. Hence
potential entry of new firms is highly viable.
FMCG packaging
market undergoes regional shifts and demographic changes and the industry is
likely to experience several challenges. Sluggish growth in mature North
American and Western Europe markets pose challenges to FMCG brands. FMCG
packaging manufacturers will have to adapt sizes and target both the lower
income segment of the population in emerging market and its growing middle
class. The economic downturn has impacted consumer's way of spending in
developed markets. With price focused consumers and increasing raw materials
price, FMCG packaging companies are forced to lower margins. In the mean time,
innovation continues to drive growth in these margins pushing up cost in
research and development.
At the same time, fall of rupee against major currencies, new norms of
standard-size packaging, increase in raw material costs due to upward spiraling
interest rates and inflation together might dent the performance of the fast
moving consumer goods (FMCG) sector which ruled the bourses in the current calendar
year.
FIXED ASSETS:
Ř Land
Ř Buildings
Ř Plant and
Equipment
Ř Furniture and
Fixtures
Ř Vehicles
Ř Office Premises
Ř Computer
Ř Telephone System
Ř Air Condition
Ř Refrigerator
Ř Electrical
Installation
Ř Laboratory
Instruments
Ř Office Equipment
Ř
Brands / trademarks
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.61.27 |
|
|
1 |
Rs.99.03 |
|
Euro |
1 |
Rs.83.80 |
INFORMATION DETAILS
|
Information
Gathered by : |
NAY |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
NO |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
54 |
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.