MIRA
INFORM REPORT
|
Report Date : |
30.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
KALAPURNA STEEL AND
ENGG. PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Office No.1,
Ground Floor, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
21.03.2006 |
|
|
|
|
Com. Reg. No.: |
11-160598 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.43.000
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27100MH2006PTC160598 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
MUMK15572E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in trading and Supply of ferrous and non-ferrous
metals. |
|
|
|
|
No. of Employees
: |
Information declined by the Management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 754000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an
established company having a moderate track record. External
borrowings seem to be increasing over years. However, trade
relations are reported as fair. Business is active. Payments are reported to
be slow but correct. The company can
be considered for business dealings with some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
India’s current
account deficit or CAD in April-June widened to 4.9 % of gross domestic
product. High imports of gold and oil led to a worsening of the trade deficit,
resulting in CAD jumping to $ 21.8 billion to the latest quarter from $ 16.9
billion in the corresponding quarter of the previous financial year. The
government aims to bring down CAD to 3.7 % or $ 70 billion, in 2013/14, from
4.8 % or $ 88.2 billion in 2012/13.
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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Bank Facilities: BB+ |
|
Rating Explanation |
Having moderate risk of default. |
|
Date |
February 6, 2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities: A4 |
|
Rating Explanation |
Having minimal degree of safety and carry very high credit risk. |
|
Date |
February 6, 2013 |
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 DECLINED BY
|
Name : |
Ms. Aboli |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-22-22895056 |
|
Date : |
29.10.2013 |
LOCATIONS
|
Registered Office : |
Office No.1,
Ground Floor, R.K. Building No.3, 8th Khetwadi
Lane, P.B. No.3726, Mumbai – 400 004, Maharashtra,
India |
|
Tel. No.: |
91-22-23895056, 23895683, 23890740, 23820628, 42209999 (30 Lines) |
|
Fax No.: |
91-22-23820628, 23870740 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 27.06.2012
|
Name : |
Mr. Naresh Siremal
Chandan |
|
Designation : |
Director |
|
Address : |
19/20, Haji Allarakha
Building, 1st Floor, 9th Khetwadi
Lane, Mumbai – 400 004, Maharashtra, India |
|
Date of Birth/Age : |
01.02.1971 |
|
Qualification : |
B. Com |
|
Experience : |
22 Years |
|
Date of Appointment : |
21.03.2006 |
|
DIN No.: |
00591599 |
|
PAN No.: |
AAKPC5639D |
|
|
|
|
Name : |
Mr. Umesh Keshrimal
Jain |
|
Designation : |
Director |
|
Address : |
Ambica Niwas, 3rd
Floor, 5th Khetwadi Lane, Mumbai – 400
004, Maharashtra, India |
|
Date of Birth/Age : |
29.11.1974 |
|
Experience : |
15 Years |
|
Date of Appointment : |
21.03.2006 |
|
DIN No.: |
00591658 |
|
PAN No.: |
AACPC8542R |
KEY EXECUTIVES
|
Name : |
Ms. Aboli |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 27.06.2012
|
Names of Shareholders |
|
No. of Shares |
|
Shah Siremal Nareshkumar (HUF) |
|
2798000 |
|
Umesh Keshrimal Jain |
|
251990 |
|
Naresh Siremal Chandan |
|
850000 |
|
Sarika S. Doshi |
|
1 |
|
Sushil M. Doshi |
|
1 |
|
Bhanabhai Patel |
|
1 |
|
Hasaram Chaudhary |
|
1 |
|
Jaya Lalith Kanungo |
|
1 |
|
Nilanjana Jha |
|
1 |
|
Priyank Kothari |
|
1 |
|
Vijay Kumar Jha |
|
1 |
|
Kothari Babulal Mohanlal (HUF) |
|
1 |
|
Vijay Kumar Jha HUF |
|
1 |
|
Empower India Limited, India |
|
400000 |
|
Total
|
|
4300000 |
AS ON 27.06.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
9.30 |
|
Directors
or relatives of directors |
|
90.70 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in trading and Supply of ferrous and non-ferrous
metals. |
|
|
|
|
Products : |
· Aluminium Alloys · Carbon Fibre and Graphite · Cobalt Alloys · Copper, Brass · Expansion, Soft Magnetic, Controlled Expansion, Electrical Alloys · Hot Work and Cold Work Tool Steel · Magnets · Nickel Alloys · Pure Beryllium, Beryllium Copper and There Alloys · Refactory Material · Special Metals · Stainless and Other Steels · Ferritic · Martensinic Steels · Duplex · Austentic · Precipitation Hardnable Stainless Steels · Low Alloy Steel · Maraging Steels · Titanium Alloys · Valve Steel and High Speed Steel |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the Management |
||||||||||||||||||||||||||||||||||||
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|
Bankers : |
·
Bank of Baroda, Gulalwadi
Branch, 24/30, 2nd Panjarapole Lane,
C.P. Tank Road, Mumbai – 400 004, Maharashtra,
India · HDFC Bank Limited · ICICI Bank Limited |
||||||||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||||||||
|
Facilities : |
Notes: LONG TERM
BORROWINGS: i) Vehicle loans from Banks (secured) represents loan
taken from ICICI
SHORT TERM BORROWING: Short Term Borrowings are secured against hypothecation of stock and receivables and collateral security and guarantees of Directors. |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
D.C. Bothra and Company Chartered Accountants |
|
Address : |
297, Tardeo Road, Willie Mansion, Nana Chowk, 1st Floor, Mumbai – 400 007, Maharashtra, India |
|
Tel. No.: |
91-22-23875734, 23876643 |
|
Fax No.: |
91-22-23876943 |
|
E-Mail : |
|
|
PAN No.: |
AACFD4645G |
|
|
|
|
Associates (As on 31.03.2012) : |
·
Creative Metals ·
KPC Hitech Private
Limited |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
4300000 |
Equity Shares |
Rs.10/- each
|
Rs.43.000
millions |
|
|
|
|
|
Reconciliation of
the number of Equity Shares Outstanding:
|
Equity
shares |
As at 31st March, 2013 |
|
|
No. of Shares |
Amount (Rs. in millions) |
|
|
At the
beginning of the period |
4300000 |
43.000 |
|
Issued
during the period - Bonus Issue |
-- |
-- |
|
Issued
during the period-Share Allotment |
-- |
-- |
|
Outstanding at the end of the period |
4300000 |
43.000 |
Shareholders holding more than 5% Equity
Shares of the Company:
|
Equity
Shareholder |
As at 31st March, 2013 |
|
|
No. of Shares |
% of holding |
|
|
Naresh Chandan |
850000 |
19.77% |
|
Umesh Jain |
251990 |
5.86% |
|
Shah Siremal Naresh Chandan HUF |
2798000 |
65.07% |
|
Empower Industries India Private Limited |
400000 |
9.30% |
Aggregate number
of bonus shares issued during the period of five years immediately preceding the
reporting date:
(Rs. in millions)
|
Financial Years |
2008-09 |
2009-10 |
2010-11 |
2011-12 |
2012-13 |
|
Fully
paid up bonus shares (Rs.10/-each) |
Nil |
Nil |
Nil |
1.950 |
Nil |
Terms/rights
attached to equity shares
The company has only
one class of equity shares having a par value of Rs.10 per share. Each holder
of equity shares is entitled to one vote per share.
In the event of liquidation of the company,
the holder of the equity shares will receive remaining assets of the company,
after distribution of all preferential amounts, if any. The distribution will
be in proportion to the number of equity shares held by the shareholders.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1) Shareholders' Funds |
|
|
|
|
(a) Share Capital |
43.000 |
43.000 |
19.500 |
|
(b) Reserves & Surplus |
145.588 |
129.642 |
37.122 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
188.588 |
172.642 |
56.622 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
16.011 |
42.683 |
26.427 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long
term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) Long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
16.011 |
42.683 |
26.427 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
242.946 |
151.201 |
59.155 |
|
(b)
Trade payables |
69.701 |
75.335 |
84.928 |
|
(c)
Other current liabilities |
16.989 |
13.317 |
142.710 |
|
(d) Short-term
provisions |
5.546 |
5.655 |
3.318 |
|
Total Current
Liabilities (4) |
335.182 |
245.508 |
290.111 |
|
|
|
|
|
|
TOTAL |
539.781 |
460.833 |
373.160 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
13.828 |
12.486 |
11.465 |
|
(ii)
Intangible Assets |
6.156 |
6.925 |
7.695 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
6.137 |
4.589 |
2.464 |
|
(e) Other
Non-current assets |
1.176 |
2.462 |
2.658 |
|
Total Non-Current
Assets |
27.297 |
26.462 |
24.282 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
231.920 |
206.184 |
178.651 |
|
(c)
Trade receivables |
243.465 |
182.400 |
140.936 |
|
(d) Cash
and cash equivalents |
27.590 |
18.004 |
20.034 |
|
(e)
Short-term loans and advances |
7.299 |
25.883 |
8.782 |
|
(f)
Other current assets |
2.210 |
1.900 |
0.475 |
|
Total
Current Assets |
512.484 |
434.371 |
348.878 |
|
|
|
|
|
|
TOTAL |
539.781 |
460.833 |
373.160 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
752.330 |
577.409 |
414.557 |
|
|
|
Other Income |
NA |
1.291 |
0.901 |
|
|
|
TOTAL (A) |
NA |
578.700 |
415.458 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase of Stock-in-Trade |
|
549.187 |
414.382 |
|
|
|
Changes in inventories
of finished goods, work-in-progress and Stock-in-Trade |
|
(27.533) |
(61.227) |
|
|
|
Employee benefit
expense |
|
7.547 |
7.335 |
|
|
|
Other expenses |
|
13.528 |
11.881 |
|
|
|
Exceptional
Items (Prior Period Expenses/ Incomes) |
|
(0.010) |
1.339 |
|
|
|
Extraordinary
Items |
|
(1.552) |
0.000 |
|
|
|
TOTAL (B) |
724.405 (including
financial and depreciation) |
541.167 |
373.710 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
37.533 |
41.748 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
16.517 |
24.618 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
|
21.016 |
17.130 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
1.773 |
1.575 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
30.859 |
19.243 |
15.555 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
9.916 |
6.225 |
5.989 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
20.943 |
13.018 |
9.566 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Ferrous & Non Ferrous Metals |
148.103 |
65.242 |
137.387 |
|
|
TOTAL IMPORTS |
148.103 |
65.242 |
137.387 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
4.87 |
3.23 |
4.82 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
4.10
|
2.25 |
2.30 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
3.33 |
3.75 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.02
|
4.18 |
4.17 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16
|
0.11 |
0.27 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.37
|
1.12 |
1.51 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.53
|
1.77 |
1.20 |
LOCAL AGENCY FURTHER INFORMATION
Details of Current maturities of long term
borrowings:
|
Particulars |
31.03.2013 (Rs. in millions) |
31.03.2012 (Rs. in millions) |
31.03.2011 (Rs. in millions) |
|
Current maturities of long term
borrowings |
|
|
|
|
HDFC
Bank Car Loan (Honda City) |
-- |
0.137 |
|
|
HDFC
Bank Car Loan (Skoda) |
-- |
0.573 |
|
|
HDFC
Bank Car Loan (XUV 500W8) |
0.343 |
-- |
|
|
ICICI
Bank Limited (Skoda Rapid) |
0.271 |
-- |
|
|
|
0.614 |
0.710 |
136.195 |
|
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 |
Yes |
|
10) Designation of contact person |
Yes |
|
11) Turnover of firm for last three years |
Yes |
|
12) Profitability for last three years |
Yes |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
No |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
Yes |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
No |
|
20) Export / Import details (if
applicable) |
No |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter
involved in |
-- |
|
23) Banking Details |
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 |
Yes |
|
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 |
10206786 |
08/11/2012 * |
300,000,000.00 |
BANK OF BARODA |
GULALWADI
BRANCH, 24/30, 2ND PANJARAPOLE LANE, C.P. TANK ROAD, MUMBAI, MAHARASHTRA -
400004, INDIA |
B64218514 |
* Date of charge modification
|
Unsecured Loan |
31.03.2013 (Rs. in Millions) |
31.03.2012 (Rs. in Millions) |
|
LONG TERM BORROWINGS |
|
|
|
Loans and advances from related parties |
6.434 |
22.422 |
|
Other loans and advances |
8.634 |
20.261 |
|
Total
|
15.068 |
42.683 |
Notes:
LONG TERM
BORROWINGS:
The terms and conditions as
to repayment of loans and advances from related parties and other loans and
advances and interest thereon are not fixed.
FIXED ASSETS:
Tangible Assets
·
Land
·
Building
·
Plant
and Equipment
·
Furniture
and Fixtures
·
Vehicles
·
Office
Equipment
·
Computer
·
Printer
·
Air
Conditioner
·
CCTV
Camera
·
EPBX
Systems
·
Fax
Machine
·
Generators
·
IPAD
·
Mobile
Phone
·
Security System
·
Panasonic
Phone
·
Television
·
Attendance
Machine
·
Weighing
Scale
Intangible Assets
·
Tenancy Rights
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
|
Information Gathered
by : |
PDT |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
29 |
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.