MIRA INFORM REPORT
|
Report Date : |
17.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
MATRIX COMSEC PRIVATE LIMITED (w.e.f. 09.03.2010) |
|
|
|
|
Formerly Known
As : |
MATRIX TELECOM PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
394, GIDC Makarpura, Vadodara – 390 010, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
01.05.1998 |
|
|
|
|
Com. Reg. No.: |
04-034047 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.663 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72200GJ1998PTC034047 |
|
|
|
|
IEC No.: |
3498001655 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BRDM00763A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCM5892Q |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of EPBX Telecom and Security Products. |
|
|
|
|
No. of Employees
: |
300 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1500000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having fine track record. There
appears some dip in the profitability of the company. However, networth of
the company is strong. General financial position of the company is good.
Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitment. The company can be considered normal 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.
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.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Ms. Gracy Bale |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-265-2630555 |
|
Date : |
12.09.2013 |
LOCATIONS
|
Registered Office/ Head Office/ Corporate Office : |
394, GIDC Makarpura, Vadodara – 390 010, |
|
Tel. No.: |
91-265-2630555 |
|
Fax No.: |
91-265-2636598 |
|
E-Mail : |
prakash.punjabi@matrixcomsec.com tejaswini.patel@matrixtelesol.com |
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory 1 : |
38/39, Waghodia GIDC, Vadodara – 391 760, |
|
Tel No.: |
91-2668-262056/ 57 |
|
Fax No.: |
91-2668-262631 |
|
Location : |
Owned |
|
|
|
|
Factory 2 : |
19-GIDC, Waghodia District, Vadodara – 391 760, India |
|
Tel. No.: |
91-2668-263172/73 |
|
|
|
|
R and D Center : |
190, GIDC, Makarpura, Vadodara - 390 010, |
|
Tel. No.: |
91-265-2630555 |
|
Fax No.: |
91-265-2636598 |
|
|
|
|
Branch Office : |
Located at: ·
· UAE · USA |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Dhirendra Raichand Savla |
|
Designation : |
Whole Time Director |
|
Address : |
301, Rangilapark, Near Nehru Society, Vadodara, |
|
Date of Birth/Age : |
16.09.1964 |
|
Qualification : |
B.E. in Computer Science |
|
Date of Appointment : |
01.08.1998 |
|
DIN No.: |
00384113 |
|
|
|
|
Name : |
Mr. Ganesh Savjibhai Jivani |
|
Designation : |
Whole Time Director |
|
Address : |
2, Narsil, Mayur Vihar, Soc, Manjalpur, Vadodara, |
|
Date of Birth/Age : |
18.07.1964 |
|
Qualification : |
B.E. in Computer Science |
|
Date of Appointment : |
01.05.1998 |
|
DIN No.: |
00384165 |
KEY EXECUTIVES
|
Name : |
Ms. Gracy Bale |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
No. of Shares |
|
Jivani Ramesh |
150 |
|
Savla Dhirendra |
16990 |
|
Jivani Ganesh |
48650 |
|
Salva Mita |
20 |
|
Jivani Savji |
150 |
|
Salva Sushila |
240 |
|
Jivani Jaya |
150 |
|
Total
|
66350 |
AS ON 29.09.2012
|
Equity Shares
Break Up |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of EPBX Telecom and Security Products. |
|
|
|
|
Terms : |
|
|
Selling : |
L/C and Credit |
|
|
|
|
Purchasing : |
L/C and Credit |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
2010-11 |
|
A. Licenced Capacity |
N.A. |
|
B. Installed Capacity |
Not
Ascertainable |
|
C. Production of EPBX during the year |
89600 |
GENERAL INFORMATION
|
Customers : |
End Users |
|||||||||||||||
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No. of Employees : |
300 (Approximately) |
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Bankers : |
Tel.
No.: 91-265-3926600
|
|||||||||||||||
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|||||||||||||||
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Facilities : |
|
|
|
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|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Manish Shah and Associates Chartered Accountants |
|
Address : |
38/101, Gautam Nagar, Race Course Circle, Vadodara – 390 007, Gujarat,
India |
|
Telfax No.: |
91-265-2359390/ 2337994 |
|
E-Mail : |
|
|
PAN No.: |
ABWPS4295E |
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|
|
|
Subsidiary Firm
: |
Matrix Comsec LLC |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000 |
Equity Shares |
Rs.10/- each |
Rs.2.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
66350 |
Equity Shares |
Rs.10/- each |
Rs.0.663
Million |
|
|
|
|
|
Details of share held by shareholders holding more than 5% of shares in
the company during the year
|
Shareholders holding during the year |
No. of Share
held |
% of Holding |
|
Dhirendra Savla |
16990 |
26 |
|
Ganesh Jivani |
48650 |
74 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
0.663 |
0.663 |
|
(b) Reserves & Surplus |
|
377.977 |
331.596 |
|
(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) |
|
378.640 |
332.259 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
29.342 |
0.831 |
|
(b) Deferred tax liabilities (Net) |
|
1.676 |
10.512 |
|
(c) Other long term liabilities |
|
11.925 |
10.008 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
42.943 |
21.351 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short term borrowings |
|
0.830 |
0.000 |
|
(b) Trade payables |
|
53.863 |
57.020 |
|
(c) Other current liabilities |
|
34.729 |
26.297 |
|
(d) Short-term provisions |
|
15.675 |
23.657 |
|
Total Current
Liabilities (4) |
|
105.097 |
106.974 |
|
|
|
|
|
|
TOTAL |
|
526.680 |
460.584 |
|
|
|
|
|
|
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
204.553 |
206.609 |
|
(ii) Intangible Assets |
|
0.204 |
0.255 |
|
(iii) Capital work-in-progress |
|
90.643 |
22.692 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.500 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
18.779 |
8.945 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
314.679 |
238.501 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
160.531 |
156.380 |
|
(c) Trade receivables |
|
33.741 |
42.337 |
|
(d) Cash and cash equivalents |
|
6.201 |
9.333 |
|
(e) Short-term loans and advances |
|
10.474 |
13.986 |
|
(f) Other current assets |
|
1.054 |
0.047 |
|
Total Current
Assets |
|
212.001 |
222.083 |
|
|
|
|
|
|
TOTAL |
|
526.680 |
460.584 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
0.663 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
248.466 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
249.129 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.793 |
|
|
TOTAL BORROWING |
|
|
0.793 |
|
|
DEFERRED TAX LIABILITIES |
|
|
24.333 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
274.255 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
80.060 |
|
|
Capital work-in-progress |
|
|
46.927 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
5.011 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
111.158
|
|
|
Sundry Debtors |
|
|
47.256
|
|
|
Cash & Bank Balances |
|
|
10.298
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
36.312
|
|
Total
Current Assets |
|
|
205.024 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
33.649 |
|
|
Other Current Liabilities |
|
|
7.337 |
|
|
Provisions |
|
|
21.781
|
|
Total
Current Liabilities |
|
|
62.767 |
|
|
Net Current Assets |
|
|
142.257 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
274.255 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
|
|
|
|
|
|
|
|
Income |
658.469 |
555.138 |
483.104 |
|
|
|
Other Income |
|
3.231 |
4.528 |
|
|
|
TOTAL |
658.469 |
558.369 |
487.632 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
244.279 |
194.817 |
|
|
|
Manufacturing Expenses |
|
48.495 |
33.490 |
|
|
|
Employees Cost and Benefits |
|
74.196 |
75.011 |
|
|
|
Selling Expenses |
587.422 |
53.506 |
50.112 |
|
|
|
Administrative Expenses |
|
12.906 |
11.407 |
|
|
|
R and D Expenses |
|
48.893 |
35.808 |
|
|
|
Increase/ Decrease in stock |
|
(22.839) |
(18.262) |
|
|
|
TOTAL |
587.422 |
459.436 |
382.383 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
71.047 |
98.933 |
105.249 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
3.996 |
1.122 |
1.229 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
67.051 |
97.811 |
104.020 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
20.115 |
10.543 |
9.224 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
46.936 |
87.268 |
94.796 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
9.391 |
4.135 |
35.950 |
|
|
|
|
|
|
|
|
|
Add |
Deferred tax
Assets/Liabilities |
8.836 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
46.381 |
83.133 |
58.846 |
|
|
|
|
|
|
|
|
|
Less |
PRIOR PERIOD TO
ADJUSTMENT |
0.000 |
0.003 |
0.104 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
331.041 |
247.911 |
189.169 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
0.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
377.422 |
331.041 |
247.911 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
206.291 |
152.564 |
141.506 |
|
|
TOTAL EARNINGS |
206.291 |
152.564 |
141.506 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
209.714 |
161.826 |
132.451 |
|
|
|
Traveling Expenses |
3.185 |
1.606 |
2.580 |
|
|
|
Capital Goods |
12.141 |
1.677 |
2.405 |
|
|
TOTAL IMPORTS |
225.040 |
165.109 |
137.436 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
6990.35 |
1253.00 |
887.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
7.04
|
14.89
|
12.07
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
15.72
|
19.62
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.76
|
19.93
|
33.25
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.12
|
0.26
|
0.38
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.08
|
0.00
|
0.00
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.02
|
2.08
|
3.26
|
LOCAL AGENCY FURTHER INFORMATION
CURRENT
MATURITIES OF LONG-TERM DEBT DETAILS – NOT AVAILABLE
|
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 |
Yes |
|
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 |
Yes |
|
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 |
UNSECURED LOAN
|
Particulars |
Rs.
In Millions 31.03.2012 |
Rs.
In Millions 31.03.2011 |
|
Long Term
Borrowings |
|
|
|
From Director |
0.000 |
0.831 |
|
Short Term
Borrowings |
|
|
|
Loans repayable on demand |
0.830 |
0.000 |
|
|
|
|
|
Total |
0.830 |
0.831 |
REVIEW OF
OPERATIONS
The year was externally challenging. The markets witness unprecedented
turbulence in the wake of the global financial meltdown. In such a tough
situation the company has witnessed a marginal rise in turnover. The annual
turnover of the company for the year stood at Rs.658.469 millions as against
Rs.558.355 millions recorded during the previous year Net profit reduced from
Rs.87.269 millions in the year 2010-11 to Rs.46.936 millions for the year under
consideration. Despite passionate competition in the market of information
Technology, The Company is confident of maintaining growth by continued focus
on quality and innovation in EPABX, GSM, VOIP, Software and Access Control
along with efficient management resources.
CONTINGENT
LIABILITIES AND COMMITMENTS:
|
PARTICULAR |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
in Millions) |
|
Service Tax matter under Appeal |
0.243 |
0.000 |
|
Bank Guarantee |
0.575 |
0.872 |
FIXED ASSETS:
·
Land
·
Furniture
·
Building
·
Office Equipments
·
Plant and Machinery
·
Computer
·
Electrical
·
Vehicles
·
R and D Equipment
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 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.62.48 |
|
|
1 |
Rs.99.66 |
|
Euro |
1 |
Rs.83.50 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
54 |
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.