MIRA INFORM REPORT
|
Report Date : |
23.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
CONCAST EXIM LIMITED |
|
|
|
|
Registered
Office : |
21, Hemant Basu Sarani, 5th Floor, Room No.511-512, Kolkata
– 700 001, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
15.01.2009 |
|
|
|
|
Com. Reg. No.: |
08-132009 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.194.722
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51101WB2009PLC132009 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALC06722C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCC5575G AFNPP8311B |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is
engaged mainly in the business of Trading in Iron and Steel, Coal, Coke. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 15217000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a satisfactory track record. It has recorded better improvement in its operations during 2012. Trade relations are reported as decent. Business is active. Payment
terms are reported to be usually correct and as per commitment. The company can be considered for business dealings at usual trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very
High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
We are living in a
world where volatility and uncertainty have become the New Normal. We saw
a change of government in countries like Tunisia, Egypt, Libya and Vietnam.
Once powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve
their business models with the changing time. Readers’ Digest, Thomson Register
are no more !
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years to
double its economic output per person during its industrial revolution and the
US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years
respectively. By 2020, emerging Asia will become the world’s largest consuming
block, overtaking North America.
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial
years of the contagion but finally lost ground last year. GDP growth slowed
down. Currency has been weakening. There is a marked deceleration in
agriculture, industry and services. Dampening sentiment led to a cut-back in
investment as well as private consumption expenditure. Inflation remained
at high levels fuelled by the pressure from the food and fuel sectors. The
large fiscal and current account deficit s continued to cause grave concern. It
is imperative that India regains its growth trajectory of 8-9 % sooner than
later. This is crucially important given the need to create gainful livelihood
opportunities for the millions living in poverty as also the large contingent
of young people joining the job market every year.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
BBB – [Long Term Bank Facilities] |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
15.02.2013 |
|
Rating Agency Name |
CARE |
|
Rating |
A3 [Short Term Bank Facilities] |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
15.02.2013 |
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/ Corporate Office : |
21, Hemant Basu Sarani, 5th Floor, Room No.511-512, Kolkata
– 700 001, West |
|
Tel. No.: |
91-33-40232323/ 22130481-87 |
|
Fax No.: |
91-33-40232323/ 22130488 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Works : |
2, |
|
Tel. No.: |
91-33-25635327/ 28 |
|
Fax No.: |
91-33-25536780 |
DIRECTORS
AS ON 28.09.2012
|
Name : |
Mr. Sanjay Kumar Sureka |
|
Designation : |
Director |
|
Address : |
28/1, Shakespeare Sarani, Kolkata – 700 017, West |
|
Date of Birth/Age : |
22.01.1971 |
|
Date of Appointment : |
15.01.2009 |
|
DIN No.: |
00218025 |
|
PAN No.: |
AMSPS0990B |
|
Voter ID No.: |
WB-23-146-069180 |
|
|
|
|
Name : |
Mr. Anil Kumar Ratan Lal Kedia |
|
Designation : |
Director |
|
Address : |
4/5, |
|
Date of Birth/Age : |
14.04.1973 |
|
Date of Appointment : |
18.05.2009 |
|
DIN No.: |
01364304 |
|
PAN No.: |
AGUPK4073D |
|
Voter ID No.: |
WB/21/143/147300 |
|
|
|
|
Name : |
Mr. Chetan Kumar Vinod Kumar Jain |
|
Designation : |
Additional Director |
|
Address : |
F-53/7, Karunamoyee Estate, |
|
Date of Birth/Age : |
30.01.1974 |
|
Date of Appointment : |
14.01.2010 |
|
DIN No.: |
00694433 |
|
PAN No.: |
ACYPJ1473G |
|
Voter ID No.: |
WB/20/139/783602 |
KEY EXECUTIVES
|
Name : |
Mr. Sumit Sushil Kanungo |
|
Designation : |
Secretary |
|
Address : |
655 Block 'O', New Alipore, Kolkata – 700 053, West |
|
Date of Birth/Age : |
03.10.1984 |
|
Date of Appointment : |
01.11.2012 |
|
Mobile No.: |
91-9836220578 |
|
E-Mail: |
|
|
PAN No.: |
CIDPK5745H |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.09.2012
NOTE: SHAREHOLDING
DETAILS FILE ATTACHED.
AS ON 28.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
99.72 |
|
Directors
or relatives of directors |
|
0.27 |
|
Other
top fifty shareholders |
|
0.01 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is
engaged mainly in the business of Trading in Iron and Steel, Coal, Coke. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
|
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
M. Jain and Associates Chartered Accountants |
|
Address : |
Mercantile Building, 9/12, |
|
Income-tax
PAN of auditor or auditor's firm : |
AADCF2465F |
|
|
|
|
Associates : |
|
CAPITAL STRUCTURE
AS ON 28.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
20000000 |
Equity Shares |
Rs.10/- each |
Rs.200.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
19472160 |
Equity Shares |
Rs.10/- each |
Rs.194.722
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
194.722 |
174.245 |
|
(b) Reserves & Surplus |
|
3609.579 |
2302.525 |
|
(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) |
|
3804.301 |
2476.770 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a)
long-term borrowings |
|
4.817 |
0.000 |
|
(b) Deferred tax
liabilities (Net) |
|
0.000 |
0.000 |
|
(c)
Other long term liabilities |
|
0.000 |
100.000 |
|
(d)
long-term provisions |
|
170.000 |
30.000 |
|
Total
Non-current Liabilities (3) |
|
174.817 |
130.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
3987.063 |
2560.961 |
|
(b)
Trade payables |
|
5024.157 |
4294.773 |
|
(c)
Other current liabilities |
|
68.441 |
18.589 |
|
(d)
Short-term provisions |
|
150.000 |
140.000 |
|
Total
Current Liabilities (4) |
|
9229.661 |
7014.323 |
|
|
|
|
|
|
TOTAL |
|
13208.779 |
9621.093 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
178.463 |
146.423 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
|
0.000 |
0.000 |
|
(b)
Non-current Investments |
|
5.000 |
28.915 |
|
(c)
Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
175.107 |
74.561 |
|
(e)
Other Non-current assets |
|
0.447 |
0.670 |
|
Total
Non-Current Assets |
|
359.017 |
250.569 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
138.050 |
41.932 |
|
(b)
Inventories |
|
3379.363 |
1614.833 |
|
(c)
Trade receivables |
|
7457.706 |
6723.715 |
|
(d)
Cash and cash equivalents |
|
1010.210 |
502.965 |
|
(e)
Short-term loans and advances |
|
864.433 |
487.079 |
|
(f)
Other current assets |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
12849.762 |
9370.524 |
|
|
|
|
|
|
TOTAL |
|
13208.779 |
9621.093 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
151.005 |
|
|
2] Share Application Money Pending Allotment |
|
|
0.880 |
|
|
3] Reserves & Surplus |
|
|
869.943 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
1021.828 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
1041.154 |
|
|
2] Unsecured Loans |
|
|
30.000 |
|
|
TOTAL BORROWING |
|
|
1071.154 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2092.982 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
25.092 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
30.432 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
315.780 |
|
|
Sundry Debtors |
|
|
2842.286 |
|
|
Cash & Bank Balances |
|
|
663.838 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
22.800 |
|
Total
Current Assets |
|
|
3844.704 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
1448.324 |
|
|
Other Current Liabilities |
|
|
329.816 |
|
|
Provisions |
|
|
30.000 |
|
Total
Current Liabilities |
|
|
1808.140 |
|
|
Net Current Assets |
|
|
2036.564 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.894 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2092.982 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
29570.038 |
23087.037 |
11411.410 |
|
|
|
Other Income |
|
|
16.979 |
|
|
|
TOTAL (A) |
29570.038 |
23087.037 |
11428.389 |
|
|
|
|
|
|
|
|
Less |
|
|
|
|
|
|
|
|
Purchase |
29116.308 |
22653.245 |
11418.527 |
|
|
|
Direct Expenses |
|
|
71.943 |
|
|
|
Administrative and Other Expenses |
|
|
24.548 |
|
|
|
Increase/Decrease in Stock |
|
|
(315.779) |
|
|
|
TOTAL (B) |
29116.308 (including
Financial and Depreciation Expenses) |
22653.245 (including
Financial and Depreciation Expenses) |
11199.239 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
229.150 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
81.490 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
147.660 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
0.035 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
453.730 |
433.792 |
147.625 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
150.000 |
140.000 |
30.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
303.730 |
293.792 |
117.625 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
411.411 |
117.619 |
(0.006) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
715.141 |
411.411 |
117.619 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
17.17 |
19.45 |
68.48 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.03
|
1.27 |
1.03 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA |
1.29 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.47
|
4.54 |
3.81 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.12
|
0.18 |
0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.05
|
1.03 |
1.05 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.38
|
2.05 |
2.13 |
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 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] |
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 |
Yes |
INDEX OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10368443 |
30/06/2012 |
500,000,000.00 |
BANK OF BARODA |
M G ROAD BRANCH,
172 M.G.ROAD, KOLKATA - 700007, WEST BENGAL, INDIA |
B44860872 |
|
2 |
10324089 |
22/01/2013 * |
525,000,000.00 |
CANARA BANK |
PRIME CORPORATE
BRANCH, BELLS HOUSE, 21, CAMACS |
B67497321 |
|
3 |
10320562 |
31/12/2012 * |
1,000,000,000.00 |
ANDHRA BANK |
KOLKATA MAIN
BRANCH, 14/1B, EZRA STREET, KOLKATA - 700001, |
B69044758 |
|
4 |
10320213 |
19/11/2011 |
800,000,000.00 |
BANK OF INDIA |
KOLKATA LARGE
CORPORATE BRANCH, 5, B.T.M. SARANI, KOLKATA - 700001, WEST BENGAL, INDIA |
B26344507 |
|
5 |
10319855 |
09/01/2013 * |
620,000,000.00 |
VIJAYA BANK |
OVERSEAS BRANCH,
125/1 PARK STREET, KOLKATA - 700017, WEST |
B67895284 |
|
6 |
10319888 |
10/11/2012 * |
930,000,000.00 |
STATE BANK OF
TRAVANCORE |
KOLKATA MAIN BRANCH,
14/1B, EZRA STREET, KOLKATA - 700001, |
B63396527 |
|
7 |
10315554 |
02/01/2013 * |
900,000,000.00 |
CENTRAL BANK OF
INDIA |
CORPORATE
FINANCE BRANCH, 33, NETAJI SUBHAS ROAD, KOLKATA - 700001, WEST BENGAL, INDIA |
B65663809 |
|
8 |
10311285 |
09/10/2012 * |
1,060,000,000.00 |
STATE BANK OF
BIKANER & JAIPUR |
20-B, PARK
STREET,, KOLKATA - 700016, WEST BENGAL, |
B64798507 |
|
9 |
10249674 |
25/02/2012 * |
500,000,000.00 |
STATE BANK OF
INDIA |
INDUSTRIAL FINANCE
BRANCH, KOLKATA, 11, DR. U. N. |
B33884743 |
|
10 |
10241389 |
17/12/2012 * |
1,500,000,000.00 |
DENA BANK |
CORPORATE BUSINESS
BRANCH, 238B, AJC BOSE ROAD, KOLKATA - 700020, WEST BENGAL, INDIA |
B65183071 |
|
* Date of charge modification |
||||||
PERFORMANCE:
During the year,
the Company has earned an operational income of Rs.29570.000 millions against Rs.23087.000
millions in the previous financial year. The Company has earned Profit after
Tax of Rs.303.700 millions compared to Rs.293.700 millions in the previous
year.
CONTINGENT
LIABILITY
|
Particulars |
31.03.2012 (Rs. in
millions) |
|
In respect of
letter of credit issued by the banks but materials not received. |
1997.400 |
FIXED ASSETS:
- Land
- Buildings
- Plant and
Equipment
- Furniture and
Fixtures
- Vehicles
- Office
Equipment
- Computer
Equipments
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.62.24 |
|
|
1 |
Rs.99.90 |
|
Euro |
1 |
Rs.84.23 |
INFORMATION DETAILS
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
49 |
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.