MIRA
INFORM REPORT
|
Report Date : |
05.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
CIKAUTXO TAURUS FLEXIBLES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
S. No. 662, Pune Mumbai Road, Talegaon, Dabhade, Pune-410506,
Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on)
: |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
31.01.2011 |
|
|
|
|
Com. Reg. No.: |
11-138415 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 180.200 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25199PN2011PTC138415 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is
engaged in the manufacturing and selling of rubber hoses and thermoplastic
tubings for passenger cars and commercial vehicles |
|
|
|
|
No. of Employees
: |
Not Available |
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 1300000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow But Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a joint venture between “Taurus Flexibles Private Limited, Cikautxo
S. Coop (Spain) and Mondragon S. Coop (Spain)”. It is having a moderate track
record. In its first year of business operations, the profit margin of the
company appears to be low. Trade relations are fair. Business is active. Payment terms are 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.
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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
B+ (Long Term Rating) |
|
Rating Explanation |
High risk of default |
|
Date |
28.02.2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A4 (Short Term Rating) |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
28.02.2012 |
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 : |
S. No. 662, Pune Mumbai Road, Talegaon, Dabhade, Pune-410506,
Maharashtra, India |
|
Tel. No.: |
91-2114-4310441 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 19.07.2012
|
Name : |
Mr. Rishi Kshettry |
|
Designation : |
Director |
|
Address : |
23 C H Area, Road No.1, Bistupur, Jamshedpur-831001, Jharkhand, India |
|
Date of Birth/Age : |
24.09.1973 |
|
Date of Appointment : |
31.01.2011 |
|
DIN No.: |
00916662 |
Other Directorship:
|
S.
No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U23203JH2005PTC011381
|
INDO AUSTRALIAN HOSE
MANUFACTURING PRIVATE LIMITED |
Director |
02/06/2005 |
02/06/2005 |
- |
Active |
NO |
|
2 |
U29299PN2008FTC132475
|
NORMA GROUP
PRODUCTS INDIA PRIVATE LIMITED |
Director |
22/07/2008 |
22/07/2008 |
15/06/2011 |
Active |
NO |
|
3 |
U25199PN2011PTC138415
|
CIKAUTXO TAURUS
FLEXIBLES PRIVATE LIMITED |
Director |
28/01/2013 |
31/01/2011 |
- |
Active |
NO |
|
Name : |
Mr. Bhuvan Kshettry |
|
Designation : |
Director |
|
Address : |
23 C H Area, Road No.1, Bistupur, Jamshedpur-831001, Jharkhand, India |
|
Date of Birth/Age : |
25.12.1967 |
|
Date of Appointment : |
31.01.2011 |
|
DIN No.: |
00918913 |
Other Directorship:
|
S.
No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U00359JH1996PTC007348
|
TAURUS ESDAN HYDRAULICS
PRIVATE LIMITED |
Director |
02/07/1996 |
02/07/1996 |
- |
Amalgamated |
NO |
|
2 |
U25200JH2002PTC009908
|
TAUDAN AUTO
COMPONENTS PRIVATE LIMITED |
Director |
29/08/2002 |
29/08/2002 |
- |
Amalgamated |
NO |
|
3 |
U25200JH2003PTC010149
|
TAURUS FLEXIBLES
PRIVATE LIMITED |
Managing
director |
10/04/2003 |
10/04/2003 |
- |
Active |
NO |
|
4 |
U27109WB2003PTC097482
|
SRI MARUTI
NATURAL RESOURCES PRIVATE LIMITED |
Director |
19/12/2003 |
19/12/2003 |
31/03/2011 |
Active |
NO |
|
5 |
U25191JH1978PTC013332
|
SUPERFLEX
ENGINEERING AND POLYMERS PRIVATE LIMITED |
Director |
05/08/2006 |
05/09/2005 |
- |
Active |
NO |
|
6 |
U00000JH1966PTC013331
|
PETHE TEXTILES
PRIVATE LIMITED |
Director |
05/08/2006 |
05/09/2005 |
- |
Active |
NO |
|
7 |
U29299PN2008FTC132475
|
NORMA GROUP
PRODUCTS INDIA PRIVATE LIMITED |
Director |
22/07/2008 |
22/07/2008 |
15/06/2011 |
Active |
NO |
|
8 |
U25199PN2011PTC138415
|
CIKAUTXO TAURUS FLEXIBLES
PRIVATE LIMITED |
Director |
31/01/2011 |
31/01/2011 |
- |
Active |
NO |
|
9 |
U25201JH1994PTC006145
|
EVERYDAY
PLASTICS AND POLYMERS PRIVATE LIMITED |
Director |
08/08/2012 |
08/08/2012 |
- |
Active |
NO |
|
Name : |
Mr. Rahul Khettry |
|
Designation : |
Director |
|
Date of Appointment : |
29.07.2011 |
|
DIN No.: |
01627036 |
Other Directorship:
|
S.
No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U23203JH2005PTC011381
|
INDO AUSTRALIAN
HOSE MANUFACTURING PRIVATE LIMITED |
Director |
02/06/2005 |
02/06/2005 |
Active |
NO |
|
2 |
U25199PN2011PTC138415
|
CIKAUTXO TAURUS
FLEXIBLES PRIVATE LIMITED |
Director |
29/07/2011 |
29/07/2011 |
Active |
NO |
|
Name : |
Mr. Inigo Eduardo Lascurain Pagaegui |
|
Designation : |
Director |
|
Date of Appointment : |
29.07.2011 |
|
DIN No.: |
03575395 |
|
|
|
|
Name : |
Mr. Victor Maria Arrizabalaga Elu |
|
Designation : |
Director |
|
Address : |
C Artabide 20 Province Biscay, Ondarroa-48700 |
|
Date of Birth/Age : |
12.12.1957 |
|
Date of Appointment : |
29.07.2011 |
|
Date of Cessation : |
09.04.2013 |
|
DIN No.: |
03575419 |
|
|
|
|
Name : |
Mr. Jose Ramon Goicoechea Madinabeitia |
|
Designation : |
Director |
|
Address : |
Baro Santa Marina 38, 2 C Province Guipuzcoa, Mondragon-20500 |
|
Date of Birth/Age : |
05.04.1948 |
|
Date of Appointment : |
29.07.2011 |
|
Date of Cessation : |
09.04.2013 |
|
DIN No.: |
03576248 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 19.07.2012
|
Names of Shareholders |
No. of Shares |
|
Taurus Flexibles Private Limited, India |
9010000 |
|
Cikautxo S. Coop Spain, Berriatua |
5406000 |
|
Mondragon Inversiones S.P.E.S. Coop Spain, Guipuzcoa |
3604000 |
|
TOTAL
|
18020000 |
AS ON 19.07.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Foreign holdings( Foreign institutional investor(s), Foreign
companie(s) Foreign financial institution(s), Non-resident Indian(s) or
Overseas Corporate bodies or Others |
50.00 |
|
Bodies corporate |
50.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the manufacturing and selling of rubber hoses
and thermoplastic tubings for passenger cars and commercial vehicles |
GENERAL INFORMATION
|
Customers : |
·
TATA Motors ·
Arvin Meritor ·
BMC ·
Tata International ·
GM ·
Fiat ·
Mahindra Navistar ·
Navistar Truck and Engine ·
Opel ·
Volvo Truck ·
UD Trucks ·
Renault Truck |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
·
State Bank of India, Commercial Branch, Pratap Tower,
Bistupur, Jamshedpur-831001, Jharkhand, India |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S V Ghatalia and Associates Chartered Accountant |
|
Address : |
C-401, Panchshill Tech Park, Yerwada, Near Don Bosco School, India |
|
PAN No.: |
AACFS6921Q |
|
|
|
|
Joint Venture Company : |
·
Taurus Flexibles Private Limited ·
Cikautxo S.Coop ·
Mondragon Inversiones S.P.E.S. Coop |
|
|
|
|
Related Parties : |
·
Indo-Australian Hose Manufacturing Private
Limited. |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
18500000 |
Equity Shares |
Rs.10/- each |
Rs. 185.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
18020000 |
Equity Shares |
Rs.10/- each |
Rs. 180.200
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.01.2011 TO 31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
180.200 |
0.100 |
|
(b) Reserves & Surplus |
|
166.277 |
0.000 |
|
(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) |
|
346.477 |
0.100 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
56.744 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
10.565 |
0.000 |
|
(c) Other long term liabilities |
|
10.054 |
0.000 |
|
(d) long-term provisions |
|
1.211 |
0.000 |
|
Total Non-current Liabilities (3) |
|
78.574 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
111.538 |
0.000 |
|
(b) Trade payables |
|
82.607 |
0.000 |
|
(c) Other current
liabilities |
|
68.053 |
0.000 |
|
(d) Short-term provisions |
|
3.239 |
0.000 |
|
Total Current Liabilities (4) |
|
265.437 |
0.000 |
|
|
|
|
|
|
TOTAL |
|
690.488 |
0.100 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
338.739 |
0.000 |
|
(ii) Intangible Assets |
|
27.625 |
0.000 |
|
(iii) Capital work-in-progress |
|
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 |
|
22.528 |
0.000 |
|
(e) Other Non-current assets |
|
1.128 |
0.000 |
|
Total Non-Current Assets |
|
390.020 |
0.000 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
112.674 |
0.000 |
|
(c) Trade receivables |
|
167.026 |
0.000 |
|
(d) Cash and cash
equivalents |
|
4.162 |
0.100 |
|
(e) Short-term loans and
advances |
|
16.018 |
0.000 |
|
(f) Other current assets |
|
0.588 |
0.000 |
|
Total Current Assets |
|
300.468 |
0.100 |
|
|
|
|
|
|
TOTAL |
|
690.488 |
0.100 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
388.456 |
|
|
|
Other Income |
|
|
21.429 |
|
|
|
TOTAL (A) |
|
|
409.885 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
|
|
356.678 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
53.207 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
15.557 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
37.650 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
21.009 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
|
|
16.641 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
|
13.851 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
|
|
2.790 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
|
2.790 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
|
|
0.15 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
|
0.68 |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
4.28 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
2.41 |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.05 |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
|
0.49 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
1.13 |
0.00 |
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
one years |
Yes |
|
12] |
Profitability for last
one 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 |
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 |
VIEW INDEX OF
CHARGES
|
S. No |
Charge ID |
Date of Charge Creation /Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN |
|
1 |
10298849 |
12/07/2011 |
414,700,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, PRATAP TOWER,
BISTUPUR, JAMSHEDPUR, JHARKHAND - 831001, INDIA |
B17475773 |
CORPORATE INFORMATION
Subject is a
private limited company domiciled in India. The company was incorporated on January
31, 2011. The company is a joint venture of Taurus Flexibles Private Limited,
Cikautxo S. Coop (Spain) and Mondragon S. Coop (Spain). The company is engaged
in the manufacturing and selling of rubber hoses and thermoplastic tubings for
passenger cars and commercial vehicles.
FIXED ASSETS
·
Factory sheds and building
·
Plant and machinery
·
Laboratory equipments
·
Office equipments
·
Computers
·
Furniture and fixtures
·
Vehicles
·
Tools and instruments
·
Electrical installations
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. 67.02 |
|
|
1 |
Rs. 104.31 |
|
Euro |
1 |
Rs. 88.23 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
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 |
4 |
|
--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 |
|
DEFAULTER |
|
|
|
--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.