1. Summary Information
|
Country |
|
||
|
Company Name |
A CHOKSEY CHEMICAL INDUSTRIES |
Principal Name 1 |
MR. ASHOK SHAH |
|
Status |
SATISFACTORY |
Principal Name 2 |
MR. ATUL SHAH |
|
Registration # |
-- |
||
|
Street Address |
THREE BUNGLOWS, |
||
|
Established Date |
1962 |
SIC Code |
-- |
|
Telephone# |
NOT AVAILABLE |
Business Style 1 |
MANUFACTURER |
|
Fax # |
NOT AVAILABLE |
Business Style 2 |
-- |
|
Homepage |
NOT AVAILABLE |
Product Name 1 |
INORGANIC CHEMICALS |
|
# of employees |
160 (APPROXIMATELY) |
Product Name 2 |
-- |
|
Capital Investment |
Rs.52,064,000/- |
Product Name 3 |
-- |
|
Shareholders |
-- |
Banking |
HDFC BANK LIMITED |
|
Public Limited Corp. |
NO |
Business Period |
51 YEARS |
|
IPO |
NO |
International Ins. |
-- |
|
Public |
NO |
Rating |
Ba (48) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
SISTER
CONCERN |
|
CHOKSEY CHEMICALS INDUSTRIES |
-- |
|
Note |
-- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2013 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
91,443,000 |
Current Liabilities |
39,678,000 |
|
Inventories |
20,649,000 |
Long-term Liabilities |
28,455,000 |
|
Fixed Assets |
8,000,000 |
Other Liabilities |
0,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
68,133,000 |
|
Invest& other Assets |
212,000 |
Retained Earnings |
107,000 |
|
|
|
Net Worth |
52,171,000 |
|
Total Assets |
120,304,000 |
Total Liab. & Equity |
120,304,000 |
|
Total Assets (Previous Year) |
85,746,000 |
|
|
|
P/L Statement as of |
31.03.2013 |
(Unit: Indian Rs.) |
|
|
Sales |
196,753,000 |
Net Profit |
4,735,000 |
|
Sales (Previous yr) |
162,440,000 |
Net Profit(Prev.yr) |
6,553,000 |
MIRA INFORM REPORT
|
Report Date : |
22.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
A CHOKSEY CHEMICAL INDUSTRIES |
|
|
|
|
Registered
Office : |
Three Bunglows, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Year of
Establishment : |
1962 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.52.064 millions |
|
|
|
|
IEC No.: |
0398055874 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAEFA2294A |
|
|
|
|
Legal Form : |
Partnership concern with an unlimited liability of the partners |
|
|
|
|
Line of Business
: |
Manufacturer of Inorganic Chemicals. |
|
|
|
|
No. of Employees
: |
Approximately 160 (In Office – 20, In Factory – 130, In Branch – 10) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 208000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an
established partnership concern having a satisfactory track record. Trade
relations are reported as fair. Business is active. Payments are reported to
be usually correct. The concern can
be considered 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
The finance ministry
has started preparations for Budget 2014/15. With general elections scheduled
to be held by May next year, there will only be an interim budget. The new
government will present the fiscal Budget.
The Supreme Court
has barred clinical trials for new drugs till a monitoring mechanism is put in
place to protect the lives of people on which the drugs are tested.
Mumbai has been
named the world’s second most honest city according to a survey on 15 cities
worldwide by Readers’ Digest magazine. Finnish capital Helsinki bagged the top
spot for the world’s most honest city while Lisbon, the capital of Portugal,
proved to be the least honest. The survey put hundreds of people to test
in four continents to find out just how honest they were by dropping wallets
and seeing how many would be returned.
3.7 % Growth of the
core sector in August, a seven month high. This takes the overall growth in
April-August this year to 2.3 % compared with 6.3 % in the corresponding period
next financial year.
$19 million
Estimated average spending by companies across the globe including India, on
social media this year, according to a global study by information technology
major Tata Consultancy Services. This will rise to $ 24 million in 2015.
Rising inflation,
fewer employment avenues and dwindling earnings are taking a toll on the
spending capacity in India. Over 72 % respondents from middle and lower middle
income families would be forced to slash their Diwali expenditure by 40 % and
on average spend nearly 25 % of their monthly salary on Diwali, according to a
survey by Assochem.
Analysts believe the
shutdown of the US government would have limited impact in sectors such as IT
or tourism that are dependent on Visa clearances.
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
|
Name : |
Mr. Giri |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-22-22673868 |
|
|
|
|
Name : |
Mr. Anil Salkade |
|
Designation : |
Manager |
|
Contact No.: |
91-9833032154 |
LOCATIONS
|
Registered Office/ Head Office/ Branch Office : |
Three Bunglows, Station Road, Navsari – 396 425, Gujarat, India |
|
Tel. No.: |
91-2637-265246 |
|
Mobile No.: |
91-9833032154 (Mr. Anil Salkade) |
|
Fax No.: |
91-2637-265294 |
|
E-Mail : |
|
|
Area : |
15000 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Factory : |
Road No.8-A, Udhna Udyog Nagar, P.B. No.19, Udhna, Surat – 394 210,
Gujarat, India |
|
Tel. No.: |
91-261-2278546 |
|
Fax No.: |
91-261-2278345 |
|
E-Mail : |
|
|
Area : |
20000 sq ft |
|
Location : |
Rented |
|
|
|
|
Sales Office : |
Shetty House, 2nd Floor, 101, M.G. Road, Fort, Mumbai – 400
001, Maharashtra, India |
|
Tel. No.: |
91-22-22673868/ 22674006 |
|
Fax No.: |
91-22-22671614 |
|
E-Mail : |
|
|
Area : |
800 sq. ft. |
|
Location : |
Rented |
PARTNERS
|
Name : |
Mr. Ashok Hasmukhlal Shah |
|
Designation : |
Managing Partner |
|
Address : |
10/B, Crystal, Kemps Corner, Peddar Road, Mumbai – 400
024, Maharashtra, India |
|
Date of Birth/Age : |
15.03.1953 |
|
Qualification : |
B. Com |
|
Experience : |
38 Years |
|
|
|
|
Name : |
Mr. Atul Hasmukhlal Shah |
|
Designation : |
Partner |
|
Address : |
3 Bunglow, Station Road, Navsari – 396 424, Gujarat, India |
|
Date of Birth/Age : |
08.04.1950 |
|
Qualification : |
B. Sc. |
|
Experience : |
40 Years |
|
|
|
|
Name : |
Mrs. Toral Atul Shah |
|
Designation : |
Partner |
|
Address : |
3 Bunglow, Station Road, Navsari – 396 424, Gujarat, India |
|
Date of Birth/Age : |
21.04.1957 |
|
Qualification : |
B.A. |
|
Experience : |
20 Years |
|
|
|
|
Name : |
Mrs. Sonal Ashok Shah |
|
Designation : |
Partner |
|
Address : |
10/B, Crystal, Kemps Corner, Peddar Road, Mumbai – 400
024, Maharashtra, India |
|
Date of Birth/Age : |
08.06.1958 |
|
Qualification : |
BA, LLB |
|
Experience : |
20 Years |
|
|
|
|
Name : |
Mrs. Jayantikaben Hasmukh Shah |
|
Designation : |
Partner |
|
Address : |
3 Bunglow, Station Road, Navsari – 396 424, Gujarat, India |
|
Date of Birth/Age : |
11.09.1929 |
|
Qualification : |
B.A. |
|
Experience : |
60 Years |
KEY EXECUTIVES
|
Name : |
Mr. Giri |
|
Designation : |
Accounts Department |
|
|
|
|
Name : |
Mr. Anil Salkade |
|
Designation : |
Manager |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Inorganic Chemicals. |
|
|
|
|
Products : |
|
|
|
|
|
Imports : |
|
|
Products : |
Phosphoric Acid 85% (Tech) Mono Potassium Phosphate |
|
Countries : |
·
·
·
|
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit (90/100 days) |
|
|
|
|
Purchasing : |
Cash, Credit (90 days) and Others |
PRODUCTION STATUS (AS ON 31.03.2013)
|
Particulars |
Installed
Capacity |
Actual
Production |
|
All range of Phosphate Salts |
300 MTS |
2400 MT / ANNUM |
GENERAL INFORMATION
|
Suppliers : |
|
|
|
|
|
Customers : |
End Users
|
|
|
|
|
No. of Employees : |
Approximately 160 (In Office – 20, In Factory – 130, In Branch – 10) |
|
|
|
|
Bankers : |
|
|
|
|
|
Facilities : |
Credit Limit: Rs.36.500 millions Against FDR of Rs.40.000 millions
(From Bank of Baroda) |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
JMN Associates Chartered Accountants |
|
Address : |
JMN House, Opposite Bombay House, Ashaagar, Navsari – 396 445,
Gujarat, India |
|
Tel. No.: |
91-2637-250232 |
|
Fax No.: |
91-2637-247402 |
|
E-Mail : |
|
|
|
|
|
Sister Concerns : |
Choksey
Chemicals Industries Address: Highway Road No.8,
Kabilpore, Navsari – 396 424, Gujarat,
India Line of business: Manufacturer of Inorganic Chemicals. Choksey Rajda
Chemical Agencies Address: 101, M.G. Road, Shetty House, Fountain, Mumbai – 400 001,
Maharashtra, India Line of business: Commission Agent |
CAPITAL STRUCTURE
PARTNER’S CAPITAL ACCOUNT
(Rs. in millions)
|
Particulars |
Atul H. Shah (HUF) 15% |
Atul H. Shah (IND) 05% |
Ashok H. Shah (IND) 05% |
Jayantikaben H. Shah 30% |
Toral Atul Shah 15% |
Sonal Ashok Shah 30% |
Total |
|
Opening Balance
(01.04.2012) |
8.248 |
3.056 |
2.995 |
8.494 |
5.502 |
12.823 |
41.118 |
|
Amount Brought in
|
0.470 |
0.981 |
0.657 |
0.251 |
1.400 |
0.582 |
4.341 |
|
Interest on
Capital |
0.918 |
0.355 |
0.399 |
1.001 |
0.572 |
1.403 |
4.648 |
|
Remuneration to
Partner |
-- |
2.400 |
2.400 |
-- |
-- |
-- |
4.800 |
|
Net profit
transfer from Profit and Loss A/c |
0.710 |
0.237 |
0.237 |
1.421 |
0.710 |
1.420 |
4.735 |
|
Total (A) |
10.346 |
7.029 |
6.688 |
11.167 |
8.184 |
16.228 |
59.642 |
|
|
|
|
|
|
|
|
|
|
Drawing for
Household Expenses |
0.974 |
1.311 |
0.790 |
0.244 |
2.420 |
1.828 |
7.567 |
|
Professional Tax |
0.003 |
-- |
-- |
-- |
-- |
0.002 |
0.005 |
|
Surat City
Zymkhana |
-- |
-- |
0.006 |
-- |
-- |
-- |
0.006 |
|
Total (B) |
0.977 |
1.311 |
0.796 |
0.244 |
2.420 |
1.830 |
7.578 |
|
Closing Balance (31.03.2013) (A-B) |
9.369 |
5.717 |
5.892 |
10.923 |
5.764 |
14.398 |
52.064 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
Note : Sole Proprietary and Partnership concerns are exempted
from filing their financials with the Government Authorities or Registry.
|
SOURCES OF FUNDS |
|
31.03.2013 |
31.03.2012 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Partner’s Capital |
|
52.064 |
41.119 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.107 |
0.107 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
52.171 |
41.226 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
20.176 |
16.130 |
|
|
2] Unsecured Loans |
|
8.279 |
9.378 |
|
|
TOTAL BORROWING |
|
28.455 |
25.508 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
80.626 |
66.734 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
8.000 |
8.048 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.212 |
0.212 |
|
|
DEFERRED TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
20.649 |
8.135 |
|
|
Sundry Debtors |
|
45.065 |
35.115 |
|
|
Cash & Bank Balances |
|
1.995 |
1.329 |
|
|
Other Current Assets |
|
0.000 |
0.000 |
|
|
Loans, Advances & Deposits |
|
44.383 |
32.907 |
|
Total
Current Assets |
|
112.092 |
77.486 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors & Other Current Liabilities |
|
|
|
|
|
Provisions |
|
|
|
|
Total
Current Liabilities |
|
39.678 |
19.012 |
|
|
Net Current Assets |
|
72.414 |
58.474 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
80.626 |
66.734 |
|
%2022-Oct-2013_files/image001.gif){kind=small}
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
196.753 |
162.440 |
|
|
|
Other Income |
|
4.423 |
3.205 |
|
|
|
TOTAL (A) |
|
201.176 |
165.645 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of goods sold |
|
138.708 |
110.973 |
|
|
|
Excise Duty Paid |
|
2.947 |
1.596 |
|
|
|
Inward Transportation |
|
2.295 |
2.756 |
|
|
|
Fuel Charges |
|
11.244 |
6.861 |
|
|
|
Electric Power Bills |
|
1.632 |
1.393 |
|
|
|
Wages |
|
1.990 |
1.756 |
|
|
|
Remuneration to Partner |
|
4.800 |
2.292 |
|
|
|
Salaries |
|
1.310 |
0.938 |
|
|
|
Sales Commission |
|
5.003 |
4.006 |
|
|
|
Outward Transport |
|
4.803 |
4.348 |
|
|
|
Printing and Stationery |
|
0.095 |
0.082 |
|
|
|
Warehousing Charges |
|
0.165 |
0.075 |
|
|
|
Other Expenses |
|
17.693 |
17.776 |
|
|
|
TOTAL |
|
192.685 |
154.852 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
8.491 |
10.793 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
1.230 |
1.302 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
|
7.261 |
9.491 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
2.526 |
2.938 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
|
4.735 |
6.553 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Other Earnings |
|
0.164 |
0.000 |
|
|
TOTAL EARNINGS |
|
0.164 |
0.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
18.127 |
43.465 |
|
|
TOTAL IMPORTS |
|
18.127 |
43.465 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
|
2.35 |
3.96 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
3.69 |
5.84 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
6.05 |
11.10 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.14 |
0.23 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
|
0.55 |
0.62 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
2.83 |
4.08 |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
Yes |
|
5) Type of Business |
Yes |
|
6) Line of Business |
Yes |
|
7) Promoter’s background |
Yes |
|
8) No. of employees |
Yes |
|
9) Name of person contacted |
Yes |
|
10) Designation of contact person |
Yes |
|
11) Turnover of firm for last two year |
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 |
Yes |
|
18) Major customers |
Yes |
|
19) Payments terms |
Yes |
|
20) Export / Import details (if applicable) |
Yes |
|
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 |
No |
|
29) Last accounts filed at ROC |
No |
|
30) Major Shareholders, if available |
No |
|
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 |
No |
TRADE REFERENCES -
LOCAL:
Nakshtra Chemical
Address: Avior Tower, Nirmal Galaxy, 5th Floor, 519, Near
Johnson and Johnson, Mulund (West), Mumbai – 400 080, Maharashtra, India
Tel. No.: 91-22-25623025/ 26
Contact Person: Mr. Dinesh Kataria
Finolex Industries
Limited
Address: D-1/10, M.I.D.C., Chinchwad, Pune – 411 019, Maharashtra, India
Tel. No.: 91-20-27408200
Contact Person: Mr. Vaidyanathan K.S.
D.C.W. Limited
Address: Nirmal, 3rd Floor, Nariman Point, Mumbai – 400 021,
Maharashtra, India
Tel. No.: 91-22-22871914
Contact Person: Mr. Satish Ayyer
Acid India
Address: D-508, Neelkanth Business Park, Near Railway Station, Vidya
Vihar (West), Mumbai – 400 086, Maharashtra, India
Tel. No.: 91-22-66252000
Contact Person: Mr. Kunal Asher
FIXED ASSETS:
·
Machinery
·
Building
·
Office
·
Air Conditioner
·
Telephone Instrument
·
Lab Equipment
·
Computer
·
Electric Fittings
·
Weighing Scale
·
Motor Car
·
Furniture
·
Scooter
·
Land
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.61.49 |
|
|
1 |
Rs.99.41 |
|
Euro |
1 |
Rs.84.12 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
SMN |
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 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
|
48 |
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.