MIRA
INFORM REPORT
|
Report Date : |
18.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
MERU CAB COMPANY PRIVATE LIMITED (w.e.f. 11.07.2008) |
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Formerly Known
As : |
V-LINK TAXIS PRIVATE LIMITED |
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Registered
Office : |
128, IJMIMA, Raheja Matroplex, Behind Goregaon Sports Club, Off Link
Road, Malad (West) Mumbai – 400064, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
04.12.2006 |
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Com. Reg. No.: |
11-165959 |
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Capital
Investment / Paid-up Capital : |
Rs.0.760
Million |
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CIN No.: [Company Identification
No.] |
U63040MH2006PTC165959 |
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PAN No.: [Permanent Account No.] |
AACCV3807B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The Company is
engaged in the business of Operating Fleet Taxis or Radio Cab Services. |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
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MIRA’s Rating : |
B (29) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. There appear
accumulated losses recorded by the company. Networth of the company has
dipped drastically due to losses. However, trade relations are fair. Business is active. Payment terms
are slow. The company can be considered for business dealing 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 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very
High |
C1 |
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Restricted |
C2 |
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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.
INFORMATION DECLINED
Management non co-operative [91-22-40520100 / 40520000]
LOCATIONS
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Registered Office : |
128, IJMIMA, Raheja Matroplex, Behind Goregaon Sports Club, Off Link
Road, Malad (West) Mumbai – 400064, Maharashtra, India |
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Tel. No.: |
91-22-40520100/ 40520000 |
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Fax No.: |
91-22-40520199 |
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E-Mail : |
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Website : |
DIRECTORS
AS ON 29.09.2012
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Name : |
Mr. Neeraj Vishnukumar Gupta |
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Designation : |
Director |
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Address : |
613, 6th Floor, Raheja Crest Next Cinemax New Link Road,
Andheri (West), Mumbai – 4000548, Maharashtra, India |
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Date of Birth/Age : |
24.02.1973 |
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Date of Appointment : |
04.12.2006 |
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Din No.: |
01783151 |
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Other Directorship:
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Name : |
Mr. Pramod Kabra |
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Designation : |
Additional Director |
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Address : |
Building 5, Anmol Housing Society, Andheri Kurla Road, Mumbai –
400069, Maharashtra, India |
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Date of Birth/Age : |
20.10.1959 |
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Date of Appointment : |
01.04.2011 |
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Din No.: |
02252403 |
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Other Directorship:
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Name : |
Mr. Vikram Nirula |
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Designation : |
Director |
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Address : |
704, Gypsy Rose Shastri Nagar, Ajmera Complex, Andheri (West), Mumbai –
400053, Maharashtra, India |
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Date of Birth/Age : |
28.08.1972 |
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Date of Appointment : |
29.11.2007 |
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Din No.: |
01655115 |
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Other Directorship:
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Name : |
Mr. Vishal Gangadhar Nevatia |
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Designation : |
Director |
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Address : |
202, Adibaba, 16th Road, Santacruz (west), Mumbai – 400054,
Maharashtra, India Maharashtra, India |
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Date of Birth/Age : |
05.08.1969 |
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Date of Appointment : |
30.07.2008 |
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Din No.: |
01307857 |
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Other Directorship:
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KEY EXECUTIVES
|
Name : |
Mr. Tejas Ramnikbhai Parekh |
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Designation : |
Company Secretary |
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Address : |
B-3, Shiv Sadan, Gandhi Nagar, LBS Marg, Ghatkopar (West), Mumbai,
Maharashtra, India |
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Date of Birth/Age : |
25.08.1982 |
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Date of Appointment : |
15.06.2011 |
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Pan No.: |
APJPP0674F |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
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No. of Shares |
|
V Link Travel Solutions Private Limited, India |
|
75792 |
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Neeraj Vishnukumar Gupta Nominee of V Link Travel Solutions Private
Limited, India |
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1 |
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TOTAL
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75793 |
AS ON 29.09.2012
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Equity Share Breakup |
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Percentage of Holding |
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Category |
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Bodies
corporate |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is engaged
in the business of Operating Fleet Taxis or Radio Cab Services. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
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Bankers : |
Corporation Bank, 185-R, Alhad, P. K. Road, Near Kalidas Hall, Mulund-West, Mumbai – 400080, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
S. R. Battliboi and Associates Chartered Accountant |
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Address : |
14th Floor, The Ruby, 29, Senapati Bapat Marg, Dadar
(West), Mumbai-400028, Maharashtra, India |
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PAN No: |
AABFS3421N |
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Holding Company : |
V-Link Travel
Solutions Private Limited [U63040MH2006PTC165956] |
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Fellow Subsidiaries : |
·
V-Link Fleet Solutions Private Limited
[U63040MH2006PTC165955] ·
V-Link Automotive Services Private Limited [U50500MH2010PTC198987] ·
Music Broadcast Private Limited
[U64200MH1999PTC137729] |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
75973 |
Equity Shares |
Rs.10/- each
|
Rs.0.760
Million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
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|
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|
(1)Shareholders' Funds |
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|
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(a) Share Capital |
|
0.760 |
0.760 |
|
(b) Reserves & Surplus |
|
141.390 |
860.830 |
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(c) Money received
against share warrants |
|
0.000 |
0.000 |
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(2)
Share Application money pending allotment |
|
787.010 |
165.010 |
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Total Shareholders’ Funds (1) + (2) |
|
929.160 |
1026.600 |
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(3) Non-Current
Liabilities |
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(a) long-term
borrowings |
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224.400 |
508.710 |
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(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
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(c) Other long
term liabilities |
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55.520 |
51.030 |
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(d) long-term
provisions |
|
1.250 |
0.540 |
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Total Non-current
Liabilities (3) |
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281.170 |
560.280 |
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(4) Current Liabilities |
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(a)
Short term borrowings |
|
8.350 |
11.830 |
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(b)
Trade payables |
|
60.530 |
51.470 |
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(c)
Other current liabilities |
|
545.230 |
790.050 |
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(d) Short-term
provisions |
|
3.290 |
1.430 |
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Total Current
Liabilities (4) |
|
617.400 |
854.780 |
|
|
|
|
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TOTAL |
|
1827.730 |
2441.660 |
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II.
ASSETS |
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|
|
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(1) Non-current assets |
|
|
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(a)
Fixed Assets |
|
|
|
|
(i) Tangible
assets |
|
1223.520 |
1834.450 |
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(ii)
Intangible Assets |
|
225.760 |
243.970 |
|
(iii)
Capital work-in-progress |
|
15.260 |
49.740 |
|
(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 |
|
50.970 |
58.340 |
|
(e) Other
Non-current assets |
|
15.760 |
16.110 |
|
Total Non-Current
Assets |
|
1531.270 |
2202.610 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
0.000 |
0.000 |
|
(c)
Trade receivables |
|
78.080 |
69.260 |
|
(d) Cash
and cash equivalents |
|
18.410 |
34.870 |
|
(e)
Short-term loans and advances |
|
173.910 |
127.790 |
|
(f)
Other current assets |
|
26.060 |
7.130 |
|
Total
Current Assets |
|
296.460 |
239.050 |
|
|
|
|
|
|
TOTAL |
|
1827.730 |
2441.660 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
0.627 |
|
|
2] Share Application Money |
|
|
0.031 |
|
|
3] Reserves & Surplus |
|
|
1579.158 |
|
|
4] (Accumulated Losses) |
|
|
(726.929) |
|
|
NETWORTH |
|
|
852.887 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
1551.479 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
1551.479 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2404.366 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
2342.195 |
|
|
Capital work-in-progress |
|
|
103.335 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000 |
|
|
Sundry Debtors |
|
|
73.649 |
|
|
Cash & Bank Balances |
|
|
27.578 |
|
|
Other Current Assets |
|
|
4.678 |
|
|
Loans & Advances |
|
|
71.873 |
|
Total
Current Assets |
|
|
177.778 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
80.692 |
|
|
Other Current Liabilities |
|
|
131.942 |
|
|
Provisions |
|
|
6.308 |
|
Total
Current Liabilities |
|
|
218.942 |
|
|
Net Current Assets |
|
|
(41.164) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2404.366 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
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|
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SALES |
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|
|
Income |
NA |
NA |
|
|
|
|
Other Income |
NA |
NA |
|
|
|
|
TOTAL |
NA |
NA |
1024.017 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
789.035 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
28.904 |
156.434 |
234.982 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
748.588 |
586.718 |
430.361 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
(719.684) |
(430.284) |
(195.379) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
(719.684) |
(430.284) |
(195.379) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(1157.213) |
(726.929) |
(531.550) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(1876.897) |
(1157.213) |
(726.929) |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
NA |
NA |
102.265 |
|
|
|
|
|
|
|
|
|
Earnings / (Loss)
Per Share (Rs.) |
(9472.89) |
(5663.64) |
(4672.78) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA
|
NA |
(19.08) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(39.71)
|
(17.99) |
(7.75) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.77)
|
(0.42) |
(0.23) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.25
|
0.51 |
1.82 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.48
|
0.27 |
0.81 |
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 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] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
INDEX OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10428183 |
31/03/2013 |
60,000,000.00 |
RELIANCE CAPITAL
LIMITED |
"H"
BLOCK 1ST FLOOR, DHIRUBHAI AMBANI KNOWLEDGE CITY, KOPARKHAIRNE, NAVI
MUMBAI-400710, MAHARASHTRA, INDIA |
B75867267 |
|
2 |
10376975 |
11/09/2012 |
107,600,000.00 |
CORPORATION BANK |
185- R ALHAD , P.K.ROAD,
NEAR KALIDAS HALL, MULUN |
B58295973 |
|
3 |
10213490 |
31/03/2010 |
28,373,200.00 |
RELIANCE CAPITAL
LIMITED |
"H"
BLOCK 1ST FLOOR, DHIRUBHAI AMBANI KNOWLEDGE CITY, KOPARKHAIRNE, NAVI
MUMBAI-400710, MAHARASHTRA, INDIA |
A83191205 |
|
4 |
10220631 |
19/03/2010 |
50,000,000.00 |
IDBI Bank
LIMITED |
IDBI TOWERWTC
COMPLEX, CUFFE PARADE, MUMBAI - 400005, MAHARASHTRA, INDIA |
A85147536 |
|
5 |
10209263 |
12/03/2010 |
100,000,000.00 |
HDFC BANK
LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI - 400013, MAHARASHTRA, INDIA |
A81661241 |
|
6 |
10206576 |
06/02/2010 |
26,148,822.00 |
TATA MOTORS
FINANCE LIMITED |
C/O. TATA MOTORS
LIMITED, 3RD FLOOR,, NANAVATI MA |
A80778384 |
|
7 |
10194356 |
24/12/2009 |
100,000,000.00 |
HDFC BANK
LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI - 400013, MAHARASHTRA, INDIA |
A76377720 |
|
8 |
10193747 |
12/12/2009 |
42,140,000.00 |
RELIANCE CAPITAL
LIMITED |
"H"
BLOCK 1ST FLOOR, DHIRUBHAI AMBANI KNOWLEDGE CITY, KOPARKHAIRNE, NAVI
MUMBAI-400710, MAHARASHTRA, INDIA |
A76088665 |
|
9 |
10194355 |
07/12/2009 |
54,599,840.00 |
TATA MOTORS FINANCE
LIMITED |
C/O. TATA MOTORS
LIMITED, 3RD FLOOR,, NANAVATI MA |
A76333459 |
|
10 |
10178630 |
21/08/2009 |
116,500,000.00 |
AXIS BANK
LIMITED |
CREDIT MANAGEAMENT
CENTER AT UNIT NO.6, CORPORATE |
A69148021 |
NOTE:
The Registered office of the company has been shifted
form, 283/2243, Motilal Nagar -1, Billabong High School, Off Link Road,
Goregaon (West), Mumbai, Maharashtra, India, to the present address w.e.f.
01.07.2007.
NATURE OF OPERATIONS:
Subject was
incorporated in India as a Private Limited Company under The Companies Act,
1956 on December 4, 2006. The Company is engaged in the business of operating
fleet taxis or radio cab services. It holds prescribed operating license under
the relevant State Fleet Taxi Services Schemes to operate taxis.
OUTLOOK AND BUSINESS PROSPECT:
On the demand
side, the need for fleet taxi like services has been palpable for a long time
now. Ever expanding middle class in India with increasing disposable income,
increased corporate travel and air traffic along with modernization of big city
airports and, lack of integrated public transportation system have fuelled this
demand. In other words this demand is only expected to grow in the short to
medium term.
The Company
maintained its leadership position in the industry by delivering superior value
to consumer through its service, resulting in Revenue growth by 18%. In line
with the strategy, the Company intends to consolidate its services in
Bangalore, Hyderabad, Delhi and Mumbai and then expand into new territories.
During the year 2011-12, the Company added approx. 250 new vehicles across
cities. The Company’s customer oriented strategy has resulted high acceptance
level from the consumers and it has helped in maintaining leadership in the
market. The Directors believe that the Company will continue to maintain its
leadership position in future years.
FIXED ASSETS:
· Leasehold Improvement
· Office Equipment
· Computer
· Furniture and Fixture
· Vehicles
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.63.37 |
|
|
1 |
Rs.100.85 |
|
Euro |
1 |
Rs.84.60 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
TPT |
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 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--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 |
|
--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.