MIRA
INFORM REPORT
|
Report Date : |
04.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
DELIGHT COTTON PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
406, Corporate House, 169, R.N.T. Marg, Indore – 452 001, Madhya
Pradesh |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
26.06.2007 |
|
|
|
|
Com. Reg. No.: |
10-019638 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.6.271
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U01405MP2007PTC019638 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BPLD02983B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCD6667R |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Ginning, Pressing and Manufacturing of Raw Cotton and also engaged in
trading of Cotton and Yarn. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (33) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 62000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. The
company has modest financial risk profile. However, trade relations are reported to be fair. Business is active. Payments
are reported to be slow but correct. The company 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) |
|
India |
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 Tunisia, Egypt, Libya and Vietnam. Once
powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve
their business models with the changing time. Readers’ Digest, Thomson Register
are no more !
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years
to double its economic output per person during its industrial revolution and the
US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years
respectively. By 2020, emerging Asia will become the world’s largest consuming
block, overtaking North America.
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial years
of the contagion but finally lost ground last year. GDP growth slowed down.
Currency has been weakening. There is a marked deceleration in agriculture,
industry and services. Dampening sentiment led to a cut-back in investment as
well as private consumption expenditure. Inflation remained at high
levels fuelled by the pressure from the food and fuel sectors. The large fiscal
and current account deficit s continued to cause grave concern. It is
imperative that India regains its growth trajectory of 8-9 % sooner than later.
This is crucially important given the need to create gainful livelihood
opportunities for the millions living in poverty as also the large contingent
of young people joining the job market every year.
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 : |
406, Corporate House, 169, R.N.T. Marg, Indore – 452 001, Madhya
Pradesh, India |
|
Tel. No.: |
91-731-2521021/ 4271450-465/ 4271458 |
|
Fax No.: |
91-731-2529556 |
|
E-Mail : |
|
|
|
|
|
Factory : |
Bypass Road, Dharampuri, District Dhar, Madhya Pradesh, India |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Pawan Kumar Doshi |
|
Designation : |
Director |
|
Address : |
Bakaner The Manawar, District Dhar, Madhya Pradesh, India |
|
Date of Birth/Age : |
20.11.1950 |
|
Date of Appointment : |
26.06.2007 |
|
DIN No.: |
01748628 |
|
|
|
|
Name : |
Ms. Rani Doshi |
|
Designation : |
Director |
|
Address : |
15/1, South Tukoganj Gorani Compound, Indore, Madhya Pradesh, India |
|
Date of Birth/Age : |
05.08.1958 |
|
Date of Appointment : |
02.11.2009 |
|
DIN No.: |
02543075 |
MAJOR SHAREHOLDERS
AS ON 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Ashok Kumar Doshi |
|
90700 |
|
Pawan Kumar Doshi |
|
75750 |
|
Rohit Doshi |
|
56500 |
|
Ashish Kumar Doshi |
|
50500 |
|
Abhishek Kumar Doshi |
|
55250 |
|
Manju Doshi |
|
54450 |
|
Rani Doshi |
|
50750 |
|
Rahul Doshi |
|
51500 |
|
Chhavi Doshi |
|
37500 |
|
Shilpa Doshi |
|
49400 |
|
Pooja Doshi |
|
54750 |
|
Total
|
|
627050 |
Equity Share Break up (Percentage of Total Equity)
AS ON 29.09.2012
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Ginning, Pressing and Manufacturing of Raw Cotton and also engaged in
trading of Cotton and Yarn. |
PRODUCTION STATUS (AS ON 31.03.2012)
|
Particulars |
Licensed
and Installed Capacity |
|
Kapas Ginning and Pressing |
25000 MT |
|
Cotton Seeds |
15000 MT |
|
Particulars |
Unit |
Actual
Production |
|
Ginned Cotton |
Qtl. |
11997 |
|
Cotton Seeds |
Qtl. |
21830 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||
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|
|
|||||||||||||||||||||||||||
|
Bankers : |
·
Bank of
India, Palasia Branch, 575/1, M.G. Road, Indore – 452 001, Madhya Pradesh,
India ·
State Bank of India, Specialized Mid Corporate
Branch, Khandelwal Chambers, Mhow-Neemuch Road, Pithampur – 452 001, Madhya
Pradesh, India |
|||||||||||||||||||||||||||
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|||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Maheshwari and Gupta Chartered Accountants |
|
Address : |
312-314, Manas Bhavan Extension, 11, R.N.T. Road, Indore – 452 001,
Madhya Pradesh, India |
|
Tel. No.: |
91-731-2525771-73 |
|
Fax No.: |
91-731-2525770 |
|
PAN No.: |
AABFM9020B |
|
|
|
|
Company in which
KMP / Relatives of KMP can exercise significant influence : |
· Pooja Fibers Private Limited · Mahima Cotex Private Limited · Mahima Fibres Private Limited · Rachna Textiles (India) Private Limited · Nidhi Cotton Industries Private Limited · Bafna Ginning and Pressing Private Limited · Pooja Cotton Industries · Mahima Exports |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
627050 |
Equity Shares |
Rs.10/- each |
Rs.6.271
Millions |
|
|
|
|
|
Reconciliation of the
number of shares and amount outstanding at the beginning and at the end of the
reporting period:
|
Particular |
As at 31.03.2012 |
|
|
Number of shares |
Amount (Rs. in millions) |
|
|
Equity shares with voting rights |
493750 |
4.938 |
|
At the beginning of the period Issued during the period |
133300 |
1.333 |
|
Outstanding at the
end of the period |
627050 |
6.271 |
(ii) 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. The company declares and pays dividends in Indian rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting.
Details of Shares
Held by each Shareholder Holding more than 5% Shares:
|
Class of shares /
Name of shareholder |
As at 31.03.2012 |
|
|
Number of shares held |
% holding in that class of shares |
|
|
Equity shares of Rs.10/-
each fully paid up with voting rights |
|
|
|
Ashok Kumar Doshi |
90700 |
14.46% |
|
Pawan Kumar Doshi |
75750 |
12.08% |
|
Rohit Doshi |
56500 |
9.01% |
|
Ashish Kumar Doshi |
50500 |
8 05% |
|
Abhishek Kumar Doshi |
55250 |
8.81% |
|
Manju Doshi |
54450 |
8.'68% |
|
Rani Doshi |
50750 |
8.09% |
|
Rahul Doshi |
51500 |
8.21% |
|
Chhavi Doshi |
37500 |
5.98% |
|
Shilpa Doshi |
49400 |
7.88% |
|
Pooja Doshi |
54750 |
8.73% |
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 |
|
6.271 |
4.938 |
|
(b) Reserves & Surplus |
|
9.133 |
3.578 |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
6.665 |
|
Total
Shareholders’ Funds (1) + (2) |
|
15.404 |
15.181 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
|
7.129 |
7.650 |
|
(b) Deferred tax liabilities (Net) |
|
2.674 |
2.329 |
|
(c) Other long
term liabilities |
|
0.000 |
0.000 |
|
(d) Long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
9.803 |
9.979 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
1.598 |
9.069 |
|
(b)
Trade payables |
|
49.286
|
74.557 |
|
(c) Other
current liabilities |
|
0.000
|
0.641 |
|
(d) Short-term
provisions |
|
0.142
|
0.192 |
|
Total Current
Liabilities (4) |
|
51.026 |
84.459 |
|
|
|
|
|
|
TOTAL |
|
76.233 |
109.619 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
27.841 |
28.716 |
|
(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 |
|
3.100 |
3.055 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
30.941 |
31.771 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
20.299
|
10.932 |
|
(c)
Trade receivables |
|
5.359
|
63.733 |
|
(d) Cash
and cash equivalents |
|
2.428
|
1.758 |
|
(e)
Short-term loans and advances |
|
17.206 |
1.389 |
|
(f)
Other current assets |
|
0.000
|
0.036 |
|
Total
Current Assets |
|
45.292 |
77.848 |
|
|
|
|
|
|
TOTAL |
|
76.233 |
109.619 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
4.938 |
|
|
2] Share Application Money |
|
|
6.665 |
|
|
3] Reserves & Surplus |
|
|
3.466 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
15.069 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
18.317 |
|
|
2] Unsecured Loans |
|
|
16.721 |
|
|
TOTAL BORROWING |
|
|
35.038 |
|
|
DEFERRED TAX LIABILITIES |
|
|
1.858 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
51.965 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
29.045 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
5.754
|
|
|
Sundry Debtors |
|
|
44.178
|
|
|
Cash & Bank Balances |
|
|
2.457
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
5.474
|
|
Total
Current Assets |
|
|
57.863 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
26.184
|
|
|
Other Current Liabilities |
|
|
8.781
|
|
|
Provisions |
|
|
0.051
|
|
Total
Current Liabilities |
|
|
35.016 |
|
|
Net Current Assets |
|
|
22.847
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.073 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
51.965 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
|
|
156.192 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
NA |
NA |
156.192 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
152.305 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
NA |
NA |
152.305 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
3.710 |
4.453 |
3.887 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST (D) |
1.603 |
2.335 |
2.230 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2.107 |
2.118 |
1.657 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.404 |
1.376 |
1.329 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
0.703 |
0.742 |
0.328 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.481 |
0.611 |
0.647 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
0.222 |
0.131 |
(0.319) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of goods calculated on FOB basis |
1.811 |
8.027 |
12.284 |
|
|
TOTAL EARNINGS |
1.811 |
8.027 |
12.284 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
0.35 |
0.27 |
(2.31) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA
|
NA |
(0.20) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.92
|
0.68 |
0.38
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05
|
0.05 |
0.02
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.57
|
1.10 |
2.33
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.89
|
0.92 |
1.65
|
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 |
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 one year |
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 |
No |
|
33)
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34)
External Agency Rating, if available |
No |
Note:
The registered office address of the company has been shifted from 202, Kuber
House, 162, Kanchan Bagh, Indore – 452 001, Madhya Pradesh, India to present
w.e.f. 14.01.2009.
|
UNSECURED LOAN |
31.03.2012 (Rs.
in millions) |
31.03.2011 (Rs.
in millions) |
|
LONG-TERM
BORROWINGS |
|
|
|
Loans and Advances |
|
|
|
From Shareholders, Director and Relatives (Unsecured Considered Good) |
1.500 |
1.500 |
|
Total |
1.500 |
1.500 |
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U01405MP2007PTC019638 |
|
Name of the
company |
DELIGHT COTTON PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
406, Corporate House, 169, R.N.T. Marg, Indore – 452 001, Madhya
Pradesh, India E-Mail: delightcotton.accounts@gmail.com |
|
This form is for |
Creation of
charge |
|
Type of charge |
Others (FDR’s) |
|
Particular of
charge holder |
State Bank of India, Specialized Mid Corporate Branch, Khandelwal Chambers, Mhow-Neemuch Road, Pithampur – 452 001, Madhya Pradesh, India E-Mail: patni2007@gmail.com |
|
Nature of
description of the instrument creating or modifying the charge |
Loan Agreement
dated 04.07.2013 |
|
Date of
instrument Creating the charge |
04.07.2013 |
|
Amount secured by
the charge |
Rs.10.000
millions |
|
Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Rate of Interest: As per Agreement Terms of Repayment: As per Agreement Margin: As per Agreement Extent and
Operation of the charge: As per Agreement Others: As per Agreement |
|
Short particulars
of the property charged |
Fixed Deposit/TDR
in the name of Delight Cotton Private Limited of Rs.12.500 millions. |
FIXED ASSETS:
·
Freehold Land
·
Building
·
Plant and Machinery
·
Electrical Installations
·
DG Set
·
Office Equipments
·
Vehicles
·
Furniture and Fixture
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.66.89 |
|
|
1 |
Rs.103.95 |
|
Euro |
1 |
Rs.88.09 |
INFORMATION DETAILS
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
|
33 |
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.