MIRA
INFORM REPORT
|
Report Date : |
11.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
TRAVANCORE COCOTUFT PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Coir Park, Thiruvizha, Cherthala,
Alappuzha – 688539, Kerala |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
03.03.2000 |
|
|
|
|
Com. Reg. No.: |
09-013734 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.37.500 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17214KL2000PTC013734 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
TVDT00626D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of polyvinyl-chloride-tufted
coir rolls and mats, rubber tray mats and polypropylene mats. |
|
|
|
|
No. of Employees
: |
170 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 312000 |
|
|
|
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Slow but correct |
|
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|
|
Litigation : |
Clear |
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|
|
Comments : |
Subject is an established company having moderate track record. Profitability of the company seems to be low during 2013. However, trade relations are fair. Business is active. Payment Terms
are slow but correct. The company can be considered for business dealings with some caution.
|
NOTES:
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
India’s current account deficit for the fiscal third quarter ended
September 2013 narrowed to $4.2 billion or 0.9 % of the gross domestic product
from $31.9 billion or 6.5 % of GDP a year earlier, thanks to a pick-up in
exports and moderation in gold imports. Manufacturing activity and new orders
in India showed their strongest growth in a year in February. The news comes as
a relief after data showed Asia’s third largest economy grew by a
slower-than-expected 4.7 % annually in the three months through December. The
HSBC Manufacturing Purchasing Managers’ Index which gauges the business
activity of India’s factories but not its’ utilities, rose to 52.5 in February,
its highest in a year from 51.4 in January. Overall new orders for factory
goods which rose to a one-year high of 54.9 contributed to the surge. China has
emerged as India’s biggest trading partner in the current financial year
replacing the United Arab Emirates and pushing it to the third spot.
India-China trade has reached $49.5 billion with a 8.7 % share in India’s total
trade. The US comes second at $46 billion with 8.1 % share during the first
nine months of the current financial year.
The Reserve Bank of India has granted an additional nine months to the
public to exchange currency notes printed before 2005 including Rs 500 and Rs 1,000
denominations, pushing the deadline to January 1, 2015. A day before dates for
the Lok Sabha polls were
announced, the government decided to hike interest rates on fixed deposit
schemes offered by post offices up to 0.2 per cent. The new rates will be
effective April, 1. The Supreme Court will resume hearing on March, 11 Nokia’s
appeal against a ruling over transferring ownership of its local mobile phones
plant which is the subject of a tax dispute to Microsoft Corp.
In the last days of the current Government, another scam has surfaced.
The defence ministry has ordered a probe into
Hindustan Aeronautics Limited’s contracts from
Britain’s Rolls-Royce Holdings worth at least $ 1.2 billion. The Central Bureau
of Investigation will look into allegations that over $80 million was paid in
kickbacks in a deal signed in 2011. India has asked Boeing Co. to find a
solution for problems with state-owned Air India’s 787 Dreamliners.
The aircraft has experienced a series of malfunctions since its debut in 2011.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
A4 (Short Term Fund Based Limited) |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
June 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.
INFORMATION PARTED BY
|
Name : |
Mr. Surendra |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-478-2811034 |
|
Date : |
09.04.2014 |
LOCATIONS
|
Registered Office : |
Coir Park, Thiruvizha, Cherthala,
Alappuzha – 688539, Kerala,
India |
|
Tel. No.: |
91-478-2811034/ 2813966 |
|
Fax No.: |
91-478-2811135/ 2818034/ 2823950 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
|
Flat No.665, Pocket E, Mayur Vihar, Phase 2, |
|
Tel. No.: |
91-11-22773139 |
|
E-Mail : |
DIRECTORS
As on: 21.06.2013
|
Name : |
Mr. Veliyil Velayudhan
Pavithran |
|
Designation : |
Managing Director |
|
Address : |
Lekshmi Sadanam, Marathorvattom, Cherthala, Alappuzha – 688 545, |
|
Date of Birth/Age : |
16.01.1932 |
|
Date of Appointment : |
03.03.2000 |
|
DIN No.: |
00026418 |
|
|
|
|
Name : |
Mr. Santosh Veliyil
Velayudhan |
|
Designation : |
Director |
|
Address : |
Jovial Bunglow, Veloorvattom,
Cherthala, Alappuzha –
688 524, |
|
Date of Birth/Age : |
13.09.1956 |
|
Date of Appointment : |
03.03.2000 |
|
DIN No.: |
00465132 |
|
|
|
|
Name : |
Mr. Velayudhan Ravindra
Prasad |
|
Designation : |
Director |
|
Address : |
Asha Bhavanam, Veloorvattom, Cherthala, Alappuzha – 688 524, |
|
Date of Birth/Age : |
01.10.1934 |
|
Date of Appointment : |
03.03.2000 |
|
DIN No.: |
00026426 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 21.06.2013
|
Names of Shareholders |
|
No. of Shares |
|
V.V. Pavithran |
|
125000 |
|
V.R. Prasad |
|
125000 |
|
V.V. Santosh |
|
125000 |
|
Total |
|
375000 |
Equity Share Break up (Percentage of Total Equity)
As on: 21.06.2013
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of polyvinyl-chloride-tufted
coir rolls and mats, rubber tray mats and polypropylene mats. |
|
|
|
|
Exports : |
|
|
Products : |
Finished Goods |
|
Countries : |
· USA · Europe · Britain |
|
|
|
|
Imports : |
|
|
Products : |
PVC Powder |
|
Countries : |
Gulf Countries |
|
|
|
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Terms : |
|
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Selling : |
L/C and Credit |
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|
|
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Purchasing : |
L/C and Credit |
GENERAL INFORMATION
|
No. of Employees : |
170 (Approximately) |
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Bankers : |
· Citi Bank N.A, Photofast House, Door No. 38/1581, M.G Road, Padma Junction, Kocji - 682035, Kerala, India · The Catholic Syrian Bank Limited, Cherthala Branch, Cherthala, Alappuzha, Cherthala - 688524, Kerala, India · State Bank of Travancore, Near Chithranjali Theatre, Cherthala, Cherthala - 688524, Kerala, India |
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Facilities : |
(Rs. In Millions)
|
|
|
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Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Rangamani and Company Chartered Accountants |
|
Address : |
Post Boc No. 3807, Rajarajeshwari
Bhavan, Pazhaveedu P.O., Alleppy – 688 009, Kerala,
India |
|
Tel. No.: |
91-477-2251474/ 2251274 |
|
Fax No.: |
91-477-2251274 |
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E-mail: |
|
|
Income-tax
PAN of auditor or auditor's firm : |
AAKFR6558G |
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|
|
|
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Related Parties
: |
·
Travancore Mats and Mattings Company Limited ·
Extra Waves Private Limited |
CAPITAL STRUCTURE
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
375000 |
Equity Shares |
Rs.100/- each |
Rs.37.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
375000 |
Equity Shares |
Rs.100/- each |
Rs.37.500 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
37.500 |
37.500 |
37.500 |
|
(b) Reserves & Surplus |
40.500 |
37.061 |
62.772 |
|
(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) |
78.000 |
74.561 |
100.272 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
18.829 |
18.556 |
22.550 |
|
(b) Deferred tax liabilities (Net) |
4.416 |
4.582 |
4.525 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities
(3) |
23.245 |
23.138 |
27.075 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short term borrowings |
105.129 |
155.706 |
209.993 |
|
(b) Trade payables |
28.600 |
24.680 |
14.004 |
|
(c) Other current liabilities |
2.837 |
0.947 |
1.780 |
|
(d) Short-term provisions |
0.816 |
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
137.382 |
181.333 |
225.777 |
|
|
|
|
|
|
TOTAL |
238.627 |
279.032 |
353.124 |
|
|
|
|
|
|
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
99.059 |
103.279 |
108.419 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.452 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
14.509 |
24.110 |
0.675 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.319 |
0.350 |
0.000 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
113.887 |
127.739 |
109.546 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
73.903 |
87.889 |
112.936 |
|
(c) Trade receivables |
42.869 |
33.555 |
95.787 |
|
(d) Cash and cash equivalents |
3.298 |
3.960 |
11.987 |
|
(e) Short-term loans and advances |
0.000 |
0.000 |
22.166 |
|
(f) Other current assets |
4.670 |
25.889 |
0.702 |
|
Total Current
Assets |
124.740 |
151.293 |
243.578 |
|
|
|
|
|
|
TOTAL |
238.627 |
279.032 |
353.124 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Gross Sales |
401.034 |
376.614 |
459.571 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
TOTAL EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
4.534 |
(25.654) |
(5.734) |
|
|
|
|
|
|
|
|
|
|
TAX |
1.096 |
0.056 |
2.726 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
3.438 |
(25.710) |
(8.460) |
|
|
|
|
|
|
|
|
|
|
EXPORT VALUE |
NA |
305.144 |
390.530 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
9.00 |
(69.00) |
(22.56) |
|
Expected Sales (2013-2014): Rs.470.000 Millions
The above information has been parted by Mr. Surendra
(Finance Manager)
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.02 |
(10.06) |
(1.63)
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06 |
(0.34) |
(0.06)
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.59 |
2.34 |
2.32
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.91 |
0.83 |
1.08
|
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs. In
Millions |
Rs. In
Millions |
Rs. In
Millions |
|
Share Capital |
37.500 |
37.500 |
37.500 |
|
Reserves & Surplus |
62.772 |
37.061 |
40.500 |
|
Net
worth |
100.272 |
74.561 |
78.000 |
|
|
|
|
|
|
long-term borrowings |
22.550 |
18.556 |
18.829 |
|
Short term borrowings |
209.993 |
155.706 |
105.129 |
|
Total
borrowings |
232.543 |
174.262 |
123.958 |
|
Debt/Equity
ratio |
2.319 |
2.337 |
1.589 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs. In
Millions |
Rs. In
Millions |
Rs. In
Millions |
|
Sales |
459.571 |
376.614 |
401.034 |
|
|
|
(18.051) |
6.484 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs. In
Millions |
Rs. In
Millions |
Rs. In
Millions |
|
Sales
|
459.571 |
376.614 |
401.034 |
|
Profit |
(8.460) |
(25.710) |
3.438 |
|
|
(1.84%) |
(6.83%) |
0.86% |
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 |
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 |
Yes |
|
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) |
Yes |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
UNSECURED LOAN
(Rs. In Millions)
|
Particular |
As on 31.03.2013 |
As on 31.03.2012 |
|
LONG-TERM
BORROWINGS |
|
|
|
Loans and advances from related parties – Directors Others |
12.075 |
13.750 |
|
|
|
|
|
Total |
12.075 |
13.750 |
OPERATIONS AND FUTURE
PROSPECTS
The performance of the Company during the year was very satisfactory. The financial results were negative in profit as well as in sales during the Financial Year 31.03.2013. But 2013 witness a growth in sales by 6% compared to last year, even after losing business with a couple of buyers who had gone bankrupt during the last financial year. The operating profit during the financial year before depreciation was around Rs. 13.934 Millions, and the net profit Rs. 4.534 Millions compared to the loss of reported last year. The limited pricing power due to severe competition, erratic power supply, and frequent fluctuation of cost of raw material lead to thin profit margin for the year.
OUTOOK
The sudden drop in sales due to bankruptcy of a couple of major buyers necessitated vigorous search for strong an meaningful buyers all over the world and the marketing team of the Company seceded in their effort by increasing the sales by 6% over the last Financial year. The Company being 100% EOU will earn a good share of the future market with its internal strength and customer expertise and can blow all potential clouds as soon as possible and continue business with added vigour and strength. The company is planning to set up a new manufacturing facility for rubber based products in 2013-14 targeting European market with an investment of one Crore in Machinery.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10237172 |
05/08/2010 |
11,000,000.00 |
THE CATHOLIC SYRIAN BANK LIMITED |
CHERTHALA BRANCH, MUTTOM BAZAR, CHERTHALA P O, ALAPPUZHA, KERALA - 688524, INDIA |
A93978310 |
|
2 |
10122904 |
02/09/2008 |
4,000,000.00 |
The Catholic Syrian Bank Limited |
CHERTHALA BRANCH, CHERTHALA, ALAPPUZHA, CHERTHALA, KERALA - 688524, INDIA |
A46084802 |
|
3 |
10122905 |
02/09/2008 |
5,000,000.00 |
The Catholic Syrian Bank Limited |
CHERTHALA BRANCH, CHERTHALA, ALAPPUZHA, CHERTHALA, KERALA - 688524, INDIA |
A46085338 |
|
4 |
10043361 |
30/08/2007 * |
97,000,000.00 |
State Bank of Travancore |
CHERTHALA BRANCH, CHERTHALA P.O, ALAPPUZHA, CHERTHALA, KERALA - 688524, INDIA |
A33363532 |
|
5 |
90021120 |
02/09/2008 * |
85,000,000.00 |
The Catholic Syrian Bank Limited |
CHERTHALA BRANCH, CHERTHALA, ALAPPUZHA, CHERTHALA, KERALA - 688524, INDIA |
A46085221 |
|
6 |
90021028 |
04/08/2005 |
9,100,000.00 |
THE CATHOLIC SYRIAN BANK LTD. |
CHERIHULA, CHERIHULA, KERALA, INDIA |
- |
|
7 |
90020396 |
24/01/2005 |
4,300,000.00 |
THE CATHOLIC SYRIAN BANK LTD |
CHERTHALA, CHERTHALA, KERALA, INDIA |
- |
|
8 |
90020004 |
30/07/2004 |
13,900,000.00 |
THE CATHOLIC SYRIAN BANK LTD |
CHERTHALA, CHERTHALA, KERALA, INDIA |
- |
|
9 |
90019529 |
18/12/2003 |
9,200,000.00 |
THE CATHOLIC SYRIAN BANK LTD |
CHERTHALA, CHERTHALA, KERALA, INDIA |
- |
|
10 |
90018405 |
04/04/2008 * |
80,000,000.00 |
The Catholic Syrian Bank Ltd |
CHERTHALA BRANCH, CHERTHALA, ALAPPUZHA, CHERTHALA, KERALA - 688524, INDIA |
A41497363 |
|
11 |
90018082 |
04/01/2001 |
2,000,000.00 |
THE CATHOLIC SYRIAN BANK LTD |
CHERTHALA, CHERTHALA, KERALA, INDIA |
11 |
* Date of charge modification
FIXED ASSETS:
Tangible Assets
v
v Building
v Plant and Equipment
v Furniture and Fixtures
v Vehicles
v Office Equipment
Intangible Assets
v Brands/ Trademarks
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.60.21 |
|
|
1 |
Rs.101.05 |
|
Euro |
1 |
Rs.82.33 |
INFORMATION DETAILS
|
Information Gathered
by : |
PLK |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
29 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment record
(10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound
financial base with the strongest capability for timely payment of interest
and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate
working capital. No caution needed for credit transaction. It has above average
(strong) capability for payment of interest and principal sums |
Large |
|
56-70 |
A |
Financial &
operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly
Large |
|
41-55 |
Ba |
Overall operation is
considered normal. Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome
financial difficulties seems comparatively below average. |
Small |
|
11-25 |
Ca |
Adverse factors are
apparent. Repayment of interest and principal sums in default or expected to
be in default upon maturity |
Limited
with full security |
|
<10 |
C |
Absolute credit risk
exists. Caution needed to be exercised |
Credit
not recommended |
|
-- |
NB |
New
Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.