MIRA INFORM REPORT
|
Report Date : |
20.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
BURCKHARDT
COMPRESSION (INDIA) PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Gat No.304,
Village-Kondhapuri, Pune-Nagar Road, Taluka Shirur, District Pune – 412 209,
Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
25.06.2004 |
|
|
|
|
Com. Reg. No.: |
11-019442 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.331.140
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29120PN2004PTC019442 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEB03947G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAGFB2614K AADCB2058D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the business of manufacture of Compressors,
including components thereof, Sales Representation and Trading of the same. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2781000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
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|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is a
subsidiary of Burckhardt Compression AG, Switzerland. It is an established company
having satisfactory track record. The company has
shown a decent improvement in its performance and has successfully mitigated
the losses incurred during FY 2012. The capital structure as well as
liquidity position appears to be comfortable during 2013. Trade relations
are reported as fair. Business is active. Payments are reported as usually
correct. In view of strong
financial and technical support from holding company, the subject 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.
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 |
ICRA |
|
Rating |
Term Loan: BBB+ |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
October, 2012 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short Term Fund Based Facilities: A2+ |
|
Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
October, 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/ Factory : |
Gat No.304,
Village-Kondhapuri, Pune-Nagar Road, Taluka Shirur, District Pune – 412 209,
Maharashtra |
|
Tel. No.: |
91-2137-616611/ 614100/
270254/ 669400 |
|
Fax No.: |
91-2137-614196/
669496/ 270232 |
|
E-Mail : |
aniruddha.joshi@burckhardtcompression.com |
|
Website : |
|
|
|
|
|
Regional Office : |
Located
at: ·
Delhi · Hyderabad ·
Vadodara ·
Kolkata |
|
|
|
|
Service Center : |
Plot
No.1112, GIDC, Ranoli, District Vadodara – 391 350, Gujarat, India |
|
Tel. No.: |
91-265-6540679, 6451670, 6451678 |
|
Fax No.: |
91-265-2243972 |
|
E-Mail : |
DIRECTORS
AS ON 01.07.2013
|
Name : |
Mr. Balaji
Thiruvadanthi Bakthisaran |
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|
Designation : |
Director |
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|
Address : |
D/30, Mantri Kishor
Park, Bhosale Nagar, Pune – 411 007, Maharashtra, India |
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|
Date of Birth/Age : |
22.05.1960 |
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Date of Appointment : |
01.03.2006 |
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DIN No.: |
00122523 |
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Other Directorship:
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|
||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Narasimharao
Subrahmanya Venkata Rallabhandi |
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|
Designation : |
Managing Director
|
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|
Address : |
Flat No.2A, Sayali
Garden, Behind Wireless Colony, Aundh, Pune – 411 007, Maharashtra, India |
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|
Date of Birth/Age : |
07.07.1962 |
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Qualification : |
B.E., P.G.D.I.E. |
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Date of Appointment : |
25.06.2004 |
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|
DIN No.: |
00122631 |
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PAN No.: |
ABAPR1034J |
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Other Directorship:
|
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|
||||||||||||||||||||||||||||||||||||
|
Name : |
Rolf Brandli |
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|
Designation : |
Director |
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|
Address : |
Rychenbergstrasse, 164, Winterthur, Switzerland 8400 |
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|
Date of Birth/Age : |
05.09.1968 |
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Date of Appointment : |
30.07.2009 |
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|
DIN No.: |
02460292 |
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Other Directorship:
|
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|
||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Marcel Franz Pawlicek |
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|
Designation : |
Director |
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|
Address : |
Lindstrasse, 29, CH 8400, Winterthur, Switzerland 8400 |
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|
Date of Birth/Age : |
20.01.1963 |
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Date of Appointment : |
15.09.2011 |
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|
DIN No.: |
03550253 |
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Other Directorship:
|
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KEY EXECUTIVES
|
Name : |
Mr. Aniruddha Mangesh Joshi |
|
Designation : |
Secretary |
|
Address : |
B3, 502, Shivranjan Towers, Someshwar Wadi, Pashan, Pune – 411 008,
Maharashtra, India |
|
Date of Birth/Age : |
29.06.1979 |
|
Date of Appointment : |
07.02.2012 |
|
PAN No.: |
AFRPJ9067L |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 01.07.2013
|
Names of Shareholders |
|
No. of Shares |
|
Burckhardt Compression AG, Switzerland |
|
33113964 |
|
Burckhardt Compression Holding AG, Switzerland |
|
1 |
|
Total
|
|
33113965 |
AS ON 01.07.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of manufacture of Compressors,
including components thereof, Sales Representation and Trading of the same. |
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Products : |
|
PRODUCTION STATUS [AS ON 31.03.2012]
|
Particulars |
Unit |
Purchases /
Manufactured Quantity |
|
High Pressure Multistage Air and Gas Compressors |
No. |
80 |
|
Components and Spare Parts |
Numerous |
Numerous |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
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|
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Banking
Relations : |
-- |
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|
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|
Auditors : |
|
|
Name : |
Price Waterhouse and Company Chartered Accountants |
|
Address : |
Mutha Towers, 5th
Floor, Suite No.8, Airport Road, Yerwada, Pune – 411 006, Maharashtra, India |
|
PAN No.: |
AADFP9359C |
|
|
|
|
Holding Company
: |
Burckhardt Compression AG, Switzerland |
|
|
|
|
Fellow Subsidiary Company : |
|
CAPITAL STRUCTURE
AS ON 01.07.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
47000000 |
Equity Shares |
Rs.10/- each |
Rs.470.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
33113965 |
Equity Shares |
Rs.10/- each
|
Rs.331.140
millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1) Shareholders' Funds |
|
|
|
|
(a) Share Capital |
331.140 |
331.140 |
223.080 |
|
(b) Reserves & Surplus |
364.218 |
265.199 |
192.609 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
695.358 |
596.339 |
415.689 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
120.000 |
155.000 |
75.000 |
|
(b) Deferred tax liabilities (Net) |
30.643 |
14.543 |
6.924 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term provisions |
6.440 |
5.255 |
14.899 |
|
Total
Non-current Liabilities (3) |
157.083 |
174.798 |
96.823 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
56.017 |
330.473 |
476.015 |
|
(b)
Trade payables |
162.363 |
79.687 |
251.736 |
|
(c)
Other current liabilities |
179.958 |
226.653 |
210.947 |
|
(d)
Short-term provisions |
53.992 |
44.520 |
41.438 |
|
Total
Current Liabilities (4) |
452.330 |
681.333 |
980.136 |
|
|
|
|
|
|
TOTAL |
1304.771 |
1452.470 |
1492.648 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
417.266 |
438.760 |
336.679 |
|
(ii)
Intangible Assets |
47.386 |
71.688 |
97.473 |
|
(iii)
Capital work-in-progress |
8.229 |
0.699 |
9.149 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.010 |
0.010 |
0.010 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
64.949 |
58.156 |
2.891 |
|
(e)
Other Non-current assets |
5.204 |
4.864 |
18.295 |
|
Total
Non-Current Assets |
543.044 |
574.177 |
464.497 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
249.329 |
389.449 |
418.326 |
|
(c)
Trade receivables |
256.954 |
425.457 |
457.190 |
|
(d)
Cash and cash equivalents |
199.876 |
2.564 |
2.206 |
|
(e)
Short-term loans and advances |
55.568 |
60.823 |
150.429 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
761.727 |
878.293 |
1028.151 |
|
|
|
|
|
|
TOTAL |
1304.771 |
1452.470 |
1492.648 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1316.430 |
1247.810 |
1356.470 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
1316.430 |
1247.810 |
1356.470 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
1103.170 |
1217.810 |
1180.660 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
1103.170 |
1217.810 |
1180.660 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
213.260 |
30.000 |
175.810 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
68.180 |
57.850 |
51.560 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
145.070 |
(27.850) |
124.250 |
|
|
|
|
|
|
|
|
|
|
TAX |
46.050 |
7.610 |
49.430 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
99.020 |
(35.470) |
74.820 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
643.190 |
274.280 |
474.180 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
2.99 |
(1.07) |
NA |
|
%20PRIVATE%20LIMITED%20-%20234894%2020-Sep-2013_files/image001.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20234894%2020-Sep-2013_files/image002.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
7.52
|
(2.84) |
5.52 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.19
|
(2.44) |
8.38 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.21
|
(0.05) |
0.30 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.25
|
0.81 |
1.33 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.68
|
1.29 |
1.05 |
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 three years |
Yes |
|
12) Profitability for last three years |
Yes |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
No |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
Yes |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
No |
|
20) Export / Import details (if
applicable) |
No |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter
involved in |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
Yes |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
Yes |
|
29) Last accounts filed at ROC |
Yes |
|
30) Major Shareholders, if available |
Yes |
|
31)
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32)
PAN of Proprietor/Partner/Director, if available |
Yes |
|
33)
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34)
External Agency Rating, if available |
Yes |
|
Unsecured Loan |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
SHORT-TERM BORROWINGS |
|
|
|
Working capital loans from banks |
0.000 |
186.967 |
|
Total
|
0.000 |
186.967 |
INDEX OF CHARGES:
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10298531 |
13/07/2011 |
100,000,000.00 |
EXPORT-IMPORT
BANK OF INDIA |
CENTRE ONE
BUILDING, FLOOR 21, WORLD TRADE CENTRE
COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
B17339086 |
|
2 |
10196972 |
07/01/2010 |
100,000,000.00 |
EXPORT-IMPORT
BANK OF INDIA |
CENTRE ONE
BUILDING, FLOOR 21, WORLD TRADE CENTRE
COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
A77209617 |
|
3 |
90087384 |
23/07/2012 * |
120,000,000.00 |
STATE BANK OF
INDIA INDUSTRIAL FINANCE BRANCH |
2ND
FLOOR ,'TARA CHAMBERS', NEAR MARIAAIPOLICE CHOWKY, OLD PUNE MUMBAI HIGHWAY,
WAKDEWADI, PUNE, MAHARASHTRA - 411003, INDIA |
B45086816 |
|
4 |
90087260 |
14/04/2005 |
145,000,000.00 |
ICICI BANK
LIMITED |
A WING; SHANRILA
GARDENS, THIRD FLOOR; BUND GARDEN ROAD, PUNE, MAHARASHTRA - 411001, INDIA |
- |
* Date of charge modification
GENERAL
INFORMATION:
The Company is
engaged in the business of manufacture of Compressors, including components
thereof, Sales Representation and Trading of the same. The Company has a plant
located at Kondhapuri (District Pune, Maharashtra) in India. The Company is a
100 percent subsidiary of Burckhardt Compression AG, Switzerland.
OPERATIONS:
The company is
passing through a lean phase in the industry in which it operates. With the economy
slowing down to a meager 5% growth, capital goods industry is the most
affected. The company still managed to register an increase of 5.5% in total
revenue over previous year. This was possible mainly because the company could
manage to ship out most of the projects it planned during the year including
the last tag of an Iranian project. Better project management and control over
material cost has resulted in better margin on projects even in difficult
times. The company also collected most of its long outstanding receivables
resulting in a better cash flow situation thereby reducing the interest cost
significantly. All this led to a better than expected Operating profit with a
correspondingly higher net profit for the year. However the company had a bad
year in terms of new order booking with the order intake for the year amounting
to INR 642.000 millions which is the lowest since 2005. This will have a
negative impact on the performance of the company during the year 2013-14.
The company has
successfully developed a new and efficient model of compressor for Navy which
is expected to help the business in the years to come. The company has also
locally developed LABY® SP, a model of compressor which has global application.
This will certainly help the company strengthen its position by having a
greater range of offerings in the market.
Components,
Services and Support has scaled new heights in the year with both order intake
and sales at record levels. It has significantly grown in field services and
will continue to grow with an enhanced focus on servicing other brand
compressors (OBC).
FUTURE PROSPECTS:
With not so
encouraging market situation coupled with a low order backlog, they expect a
sluggish year 2013 as far as sales and profitability. Sales and correspondingly
profits are expected drop due to lowest order intake during 2012-13. The
company has decided to implement SAP ERP which is expected to go live from the
next financial year and the company has earmarked funds for the project. During
the year the company also plans to set up a new valve service center at
Kolkata, in addition to the one it has in Vadodara.
They expect to see some signs of economic recovery towards the second
half of the year 2013-14.
FIXED ASSETS:
Tangible Assets
·
Land
·
Buildings
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Computer Equipments
Intangible Assets
·
Computer Software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist organization
or whom notice had been received that all financial transactions involving
their assets have been blocked or convicted, found guilty or against whom a
judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction registered
against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling shareholders,
director, officer or employee of the company is a government official or a
family member or close business associate of a Government official.
9] Compensation Package :
Our market survey
revealed that the amount of compensation sought by the subject is fair and
reasonable and comparable to compensation paid to others for similar services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.75 |
|
|
1 |
Rs.99.56 |
|
Euro |
1 |
Rs.83.55 |
INFORMATION DETAILS
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
50 |
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.