MIRA
INFORM REPORT
|
Report Date : |
30.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
J.KORIN COCOON MANUFACTURING PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot
No 63/3, Road No 4, Udhana, Udyognagar, Udhana, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of Incorporation
: |
08.12.2005 |
|
|
|
|
Com. Reg. No.: |
04-047223 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 2.921 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17297GJ2005PTC047223 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
SRTJ01447F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCJ6177H |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Cocoon. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (41) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 165600 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. There appear dip in sales and profit of the company in the year 2012.
However, liquidity position seems to be decent. Trade relations are reported to be fair. Business is active. Payment
terms are reported to be slow but correct. The company can be considered for business dealings at usual trade
terms and conditions. Note: The latest
financial of 2013 is not available with us. |
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
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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
SE1B |
|
Rating Explanation |
Highest performance capability and moderate
financial strength. |
|
Date |
August 12 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office : |
Plot
No 63/3, Road No 4, Udhana, Udyognagar, Udhana, Surat – 394210, Gujarat,
India |
|
Tel. No.: |
91- 261-2270044 |
|
Fax No.: |
91-261-2275511 |
|
E-Mail : |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Jitendrakumar Phoolchand Arya |
|
Designation : |
Director |
|
Address : |
4-B, Rudra Raj Apartment, Parle Point, Surat – 395007,
Gujarat, India |
|
Date of Birth/Age : |
01.01.1957 |
|
Date of Appointment : |
08.12.2005 |
|
DIN No.: |
00028705 |
|
|
|
|
Name : |
Mr. Surendra Nagindas Jariwala |
|
Designation : |
Director |
|
Address : |
Bungalow No. 13, Parle Point, Athwalines, Surat – 395007,
Gujarat, India |
|
Date of Birth/Age : |
19.02.1931 |
|
Date of Appointment : |
14.12.2005 |
|
DIN No.: |
01146317 |
|
|
|
|
Name : |
Mr. Himanshu Surendra Jariwala |
|
Designation : |
Director |
|
Address : |
Bungalow No.13, Parle Point, Athwalines, Surat – 395007,
Gujarat, India |
|
Date of Birth/Age : |
25.12.1961 |
|
Date of Appointment : |
14.12.2005 |
|
DIN No.: |
01146631 |
|
|
|
|
Name : |
Mr. Deepak Surendra Jariwala |
|
Designation : |
Director |
|
Address : |
Bungalow No. 13, Parle Point, Athwalines, Surat – 395007,
Gujarat, India |
|
Date of Birth/Age : |
25.02.1963 |
|
Date of Appointment : |
08.12.2005 |
|
DIN No.: |
01148595 |
|
|
|
|
Name : |
Mr. Taewhan Park |
|
Designation : |
Director |
|
Address : |
2-5 (29-1) Horim Dong,, Dalsco-Gu, Deagu, Metropolitan
000000 |
|
Date of Birth/Age : |
28.04.1951 |
|
Date of Appointment : |
14.12.2005 |
|
DIN No.: |
02152684 |
|
|
|
|
Name : |
Mr. Kyokee Lee |
|
Designation : |
Director |
|
Address : |
Taeyoung Apartment 105-1801, 566 (26/10)
Cheonho-Dong, Gangdong-Gu, Seoul Metropolitan 000000 |
|
Date of Birth/Age : |
30.08.1952 |
|
Date of Appointment : |
14.12.2005 |
|
DIN No.: |
02152710 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Deepak S. Jariwala Neha D. Jariwala |
|
26400 |
|
Jitendra P. Arya Sabita J. Arya |
|
52800 |
|
Himanshu S. Jariwala Kalpana H. Jariwala |
|
26400 |
|
Surendra N. Jariwala Usha S. Jariwala |
|
26400 |
|
Kyo Kee Lee Shin Sung Ja |
|
80060 |
|
Taewhan Park |
|
80060 |
|
Suchi V. Tapkhirwala |
|
14 |
|
|
|
|
|
Total |
|
292134 |
AS ON 30.09.2013
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Directors
or relatives of directors |
99.99 |
|
Other
top fifty shareholders |
0.01 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Cocoon. |
GENERAL INFORMATION
|
Suppliers : |
·
Salona Spinntex Private Limited Saurabh
Enterprise Aarti
Ducting Anand
Textiles B. K.
Steel Tube CTX
Textiles Dipika
Enterprises D. P.
Investment Gimatex
Industries Private Limited J. Korin
Industries Rashmi
Syntex Samosaran
Yarns Private Limited Sanghvi
Spinners Sheetal
Textiles Traders Shivani
Enterprises Shivtex
Engineers Shreeji
Electricals |
|||||||||||||||||||||||||||||||||
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|
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|
Customers : |
·
Khushi Creation Kism
Textile Private Limited Krishna
Fashion Krs
Embroidery Kruti
Art Kudrat
Creation Lakhmi
Spinning Mill Laxmi
Creation Madhusudan
Creation Mahek
Fashion Maker
Synthetics Mridul
Fashion Neel
Textiles Parth
Creation R.K.Embroidery Rachit
Creation Radhey
Fashion Raj
Creation Sahiba
Fabrics Private Limited Shruti
Impex Sonal
Creation Suchi
Industries Limited |
|||||||||||||||||||||||||||||||||
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No. of Employees : |
Not Available |
|||||||||||||||||||||||||||||||||
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|
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|
Bankers : |
· Bank of Baroda, Khatodra Branch, Rajhans Complex, 1st Floor, Opposite J.K. Towers, Ring Road, Surat - 395002, Gujarat, India HDFC Bank Limited |
|||||||||||||||||||||||||||||||||
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Facilities : |
|
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|
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
S.B. Vaidya and Company Chartered Accountants |
|
Address : |
201, 2nd Floor, 'G' Tower,
Sankeshwar Complex, Above Girisg Group of Hospitals Majura Gate, Surat
– 395002, Gujarat, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAMFS3477M |
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
300,000 |
Equity Shares |
Rs. 10/- each |
Rs. 3.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
292,134 |
Equity Shares |
Rs. 10/- each |
Rs. 2.921
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
2.921 |
2.921 |
|
(b) Reserves & Surplus |
|
38.490 |
35.823 |
|
(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) |
|
41.411 |
38.744 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
2.653 |
1.937 |
|
(b) Deferred tax liabilities (Net) |
|
0.405 |
0.536 |
|
(c) Other long
term liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
3.058 |
2.473 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
19.564 |
10.243 |
|
(b)
Trade payables |
|
10.601 |
23.979 |
|
(c)
Other current liabilities |
|
0.000 |
0.000 |
|
(d) Short-term
provisions |
|
14.721 |
25.089 |
|
Total Current
Liabilities (4) |
|
44.886 |
59.311 |
|
|
|
|
|
|
TOTAL |
|
89.355 |
100.528 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i) Tangible
assets |
|
19.787 |
19.066 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.000 |
|
(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 |
|
0.000 |
0.000 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
19.787 |
19.066 |
|
|
|
|
|
|
(2) Current
assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
3.286 |
2.911 |
|
(c)
Trade receivables |
|
8.571 |
16.089 |
|
(d) Cash
and cash equivalents |
|
44.207 |
49.961 |
|
(e)
Short-term loans and advances |
|
0.362 |
1.621 |
|
(f)
Other current assets |
|
13.142 |
10.880 |
|
Total
Current Assets |
|
69.568 |
81.462 |
|
|
|
|
|
|
TOTAL |
|
89.355 |
100.528 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
2.921 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
26.172 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
29.093 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
3.039 |
|
|
2] Unsecured Loans |
|
|
2.827 |
|
|
TOTAL BORROWING |
|
|
5.866 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
34.959 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
14.817 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
2.618 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
6.811 |
|
|
Sundry Debtors |
|
|
58.324 |
|
|
Cash & Bank Balances |
|
|
0.423 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
10.146 |
|
Total
Current Assets |
|
|
75.704 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
27.271 |
|
|
Other Current Liabilities |
|
|
22.110 |
|
|
Provisions |
|
|
8.275 |
|
Total
Current Liabilities |
|
|
57.656 |
|
|
Net Current Assets |
|
|
18.048 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
(0.524) |
|
|
|
|
|
|
|
|
TOTAL |
|
|
34.959 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
135.912 |
187.088 |
188.463 |
|
|
|
Other Income |
0.605 |
0.615 |
0.233 |
|
|
|
TOTAL (A) |
136.517 |
187.703 |
188.696 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of material consumed |
85.224 |
135.542 |
|
|
|
|
Changes in inventories of finished goods, work in progress and stock
in trade |
2.440 |
(9.319) |
|
|
|
|
Employee benefit expense |
22.145 |
25.714 |
|
|
|
|
Other expenses |
17.219 |
17.802 |
|
|
|
|
TOTAL (B) |
127.028 |
169.739 |
168.784 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
9.489 |
17.964 |
19.912 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
2.107 |
1.366 |
1.555 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
7.382 |
16.598 |
18.357 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
3.396 |
2.435 |
2.355 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
3.986 |
14.163 |
16.002 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.319 |
4.512 |
5.649 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
2.667 |
9.651 |
10.353 |
|
|
|
|
|
|
|
|
|
|
ADJUSTMENT
DURING THE YEAR |
35.823 |
26.172 |
15.819 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
38.490 |
35.823 |
26.172 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
1.624 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
0.203 |
0.040 |
1.264 |
|
|
|
Machinery |
0.000 |
1.834 |
1.834 |
|
|
TOTAL IMPORTS |
0.203 |
1.874 |
3.098 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
9.13 |
33.03 |
35.44 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.95
|
5.14 |
5.49 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.93
|
7.57 |
8.49 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.46
|
14.09 |
17.68 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.10
|
0.37 |
0.55 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.54
|
0.31 |
0.20 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.55
|
1.37 |
1.31 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last three
years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10088503 |
22/12/2011 * |
21,445,000.00 |
BANK OF BARODA |
KHATODRA BRANCH,
RAJHANS COMPLEX, 1ST FLOOR, OPPOSITE |
B28418697 |
* Date of charge modification
UNSECURED LOANS
|
UNSECURED LOANS |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
|
SHORT TERM BORROWINGS |
|
|
|
From Other
Parties |
|
|
|
R.K. Embroidary |
0.000 |
0.011 |
|
|
|
|
|
Total |
0.000 |
0.011 |
FIXED ASSETS:
· Building
Plant
and Equipments
Furniture
and Fixture
Vehicles
Office
Equipments
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. 61.46 |
|
|
1 |
Rs. 98.99 |
|
Euro |
1 |
Rs. 84.72 |
INFORMATION DETAILS
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
41 |
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.