MIRA
INFORM REPORT
|
Report Date : |
11.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
UMA PLASTICS LIMITED |
|
|
|
|
Registered
Office : |
14B, Camac Street, 3rd Floor,
Suite 3D, Kolkata-700017, West Bengal |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
29.12.1999 |
|
|
|
|
Com. Reg. No.: |
21-090845 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.13.980
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25209WB1999PLC090845 |
|
|
|
|
IEC No.: |
0299021564 |
|
|
|
|
Tin No.: |
19432073245 |
|
|
|
|
Income Tax
Registration No.: |
AAACU3932E |
|
|
|
|
Tax
Identification No.: |
19432073051 |
|
|
|
|
Service Tax
Registration No.: |
1226/GTA/SB-03/KOL/04-05 |
|
|
|
|
Central Sales
Tax No.: |
19432073245 |
|
|
|
|
Excise
Registration No.: |
AAACU3932E XM 001 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Quality Molded Plastic Products, Plastic Moulded Furniture and Industrial Plastic Components. |
|
|
|
|
No. of Employees
: |
Information denied by the management. |
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 181000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. There seems huge external borrowings recorded by the company which may
act as a threat to the company’s liquidity. The profitability is also low. However, trade relations are reported
as fair. Business is active. Payments are reported to be 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.
ECGC Country Risk Classification List – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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
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.
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 [91-33-22816967]
LOCATIONS
|
Registered Office/ Factory : |
14B, Camac Street, 3rd Floor,
Suite 3D, Kolkata-700017, West Bengal, India |
|
Tel. No.: |
91-33-22816967/22810775/30089000/22810775 |
|
Fax No.: |
91-33-22813961 |
|
E-Mail : |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Om Prakash Seksaria |
|
Designation : |
Director |
|
Address : |
6, Palm Palace, Kolkata-700019, West Bengal, India |
|
Date of Birth/Age : |
20-08.1949 |
|
Date of Appointment : |
29.12.1999 |
|
Din No.: |
01786559 |
|
Pan No.: |
AMAPS3961L |
|
|
|
|
Name : |
Mr. Krishna Kumar Seksaria |
|
Designation : |
Director |
|
Address : |
6, Palm Palace, Kolkata-700019, West Bengal, India |
|
Date of Birth/Age : |
06.09.1958 |
|
Date of Appointment : |
29.12.1999 |
|
Din No.: |
01495002 |
|
Pan No.: |
ALSPS2248D |
|
|
|
|
Name : |
Mr. Uday Shankar Seksaria |
|
Designation : |
Director |
|
Address : |
6, Palm Palace, Kolkata-700019, West Bengal, India |
|
Date of Birth/Age : |
05.08.1980 |
|
Date of Appointment : |
29.12.1999 |
|
Din No.: |
01798352 |
|
Pan No.: |
ANIPS9083N |
|
|
|
|
Name : |
Mr. Santosh Kumar Agarwal
|
|
Designation : |
Director |
|
Address : |
59/3, Acspa 8921 G, 5th Floor,
Howrah-711101, West Bengal, India |
|
Date of Birth/Age : |
13.11.1952 |
|
Date of Appointment : |
01.02.2000 |
|
Din No.: |
02440489 |
|
Pan No.: |
ACSPA8921G |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Nirmala Seksaria |
|
50000 |
|
Om Prakash Seksaria |
|
107100 |
|
Krishna Kumar Seksaria |
|
52400 |
|
Bina Seksaria |
|
70000 |
|
Santosh Kumar Agarwal |
|
100 |
|
Swastik Kumar Agarwal |
|
100 |
|
Uday Shankar Seksaria |
|
100 |
|
Nitin Harlalka |
|
200 |
|
Agrasar Vanijya Private
Limited, India |
|
625000 |
|
Paramjyoti Vanijyap
Limited, India |
|
493000 |
|
|
|
|
|
TOTAL
|
|
1398000 |
AS ON 30.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
88.57 |
|
Directors
or relatives of directors |
|
11.43 |
|
TOTAL |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Quality Molded Plastic Products, Plastic Moulded Furniture and Industrial Plastic Components. |
||||
|
|
|
||||
|
Products : |
|
PRODUCTION STATUS [AS ON 31.03.2011]
|
Particulars |
2010-2011 |
|
Licensed Capacity |
25 Laks Pcs. |
|
Installed Capacity |
23 Laks Pcs. |
ACTUAL PRODUCTION:
|
Particular |
Actual
Production Qty. |
|
Plastic Moulded |
1412729 |
GENERAL INFORMATION
|
No. of Employees : |
Information denied by the management. |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
The South Indian Bank Limited, 2, Hazarimull
Shah Road, Howrah-711106, West Bengal, India |
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S.K. Bhartia Chartered Accountants |
|
Address : |
39, Strand Road, 4th Floor, Room No. 75, Kolkata-700001,
West Bengal, India |
|
Tel. No.: |
91-33-22102670/22310391/0687 |
|
Fax No.: |
91-33-22310364 |
|
E-Mail : |
|
|
PAN No: |
ADUPB4014G |
|
|
|
|
Other Related Parties : |
·
Janaki Engineering and
Trading Company ·
Uma Metal Industries ·
Uma Poly Solutions Private Limited ·
Swagath Plastics
Private Limited ·
Swagath Polycrafts |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1398000 |
Equity Shares |
Rs.10/- each
|
Rs.13.980
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 |
13.980 |
13.980 |
13.980 |
|
(b) Reserves & Surplus |
31.511 |
30.045 |
29.028 |
|
(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) |
45.491 |
44.025 |
43.008 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
290.637 |
341.074 |
284.556 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
0.050 |
0.050 |
0.050 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
290.687 |
341.124 |
284.606 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
75.262 |
68.161 |
10.872 |
|
(b) Trade payables |
61.815 |
23.122 |
4.028 |
|
(c) Other current liabilities |
9.675 |
5.880 |
1.821 |
|
(d) Short-term provisions |
3.879 |
3.274 |
2.353 |
|
Total Current Liabilities (4) |
150.631 |
100.437 |
19.074 |
|
|
|
|
|
|
TOTAL |
486.809 |
485.586 |
346.688 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible
assets |
93.030 |
82.446 |
79.776 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
43.544 |
34.767 |
24.762 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
5.033 |
5.937 |
6.558 |
|
(d)
Long-term Loan and Advances |
0.097 |
0.097 |
0.097 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
141.704 |
123.247 |
111.193 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
91.424 |
149.332 |
94.062 |
|
(c) Trade receivables |
211.681 |
175.870 |
102.774 |
|
(d) Cash and cash equivalents |
18.770 |
17.967 |
15.697 |
|
(e) Short-term loans and advances |
20.753 |
17.959 |
22.084 |
|
(f) Other current assets |
2.477 |
1.211 |
0.878 |
|
Total Current Assets |
345.105 |
362.339 |
235.495 |
|
|
|
|
|
|
TOTAL |
486.809 |
485.586 |
346.688 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
267.685 |
197.435 |
233.801 |
|
|
|
Other Income |
10.004 |
10.286 |
1.499 |
|
|
|
TOTAL (A) |
277.689 |
207.721 |
235.300 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of material consumed |
178.818 |
124.373 |
149.340 |
|
|
|
Purchases of stock in trade |
0.000 |
1.348 |
0.000 |
|
|
|
Employees benefit expenses |
12.689 |
11.248 |
11.012 |
|
|
|
Other expenses |
50.244 |
39.928 |
37.857 |
|
|
|
Increase / decrease in inventories of finished goods consignment stock
and traded goods |
(0.066) |
(7.861) |
9.142 |
|
|
|
TOTAL (B) |
241.685 |
169.036 |
207.351 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
36.004 |
38.685 |
27.949 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
27.449 |
29.366 |
19.168 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
8.555 |
9.319 |
8.781 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
5.628 |
7.308 |
8.558 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
2.927 |
2.011 |
0.223 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.461 |
0.994 |
(0.021) |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
1.466 |
1.017 |
0.244 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
12.525 |
11.508 |
11.264 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
13.991 |
12.525 |
11.508 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Exports |
2.012 |
2.810 |
4.405 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
0.000 |
0.000 |
0.000 |
|
|
|
Capital Goods |
9.759 |
7.234 |
5.931 |
|
|
|
Trading Goods |
0.000 |
1.017 |
0.000 |
|
|
TOTAL IMPORTS |
9.759 |
8.251 |
5.931 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
1.05 |
0.73 |
0.17 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.53
|
0.49 |
0.10 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.09
|
1.02 |
0.10 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.67
|
0.45 |
0.07 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06
|
0.05 |
0.01 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
8.04
|
9.30 |
6.87 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.29
|
3.61 |
28.55 |
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 |
13.980 |
13.980 |
13.980 |
|
Reserves & Surplus |
29.028 |
30.045 |
31.511 |
|
Net worth |
43.008 |
44.025 |
45.491 |
|
|
|
|
|
|
long-term borrowings |
284.556 |
341.074 |
290.637 |
|
Short term borrowings |
10.872 |
68.161 |
75.262 |
|
Total borrowings |
295.428 |
409.235 |
365.899 |
|
Debt/Equity ratio |
6.869 |
9.296 |
8.043 |
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 |
233.801 |
197.435 |
267.685 |
|
|
|
(15.554) |
35.581 |
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 |
233.801 |
197.435 |
267.685 |
|
Profit |
0.244 |
1.017 |
1.466 |
|
|
0.10% |
0.52% |
0.55% |
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 |
Yes |
|
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 |
Yes |
|
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 |
OPERATIONS:
The plastic furniture which the company
manufactures has over crowded market with many established players. The market
is very competitive as well as price sensitive. The products of the company are
well accepted in the market due to superior quality and price competitiveness.
The directors are hopeful of better performance during the year.
FINANCE:
The company has initiated the reinforcement of
financial discipline with parties by exercising adequate control over overhead
costs for improvement of profitability. The company has not invited/accepted
any deposit from the public during the year.
|
Unsecured Loan |
As
on 31.03.2013 [Rs. in Millions] |
As
on 31.03.2012 [Rs. in Millions] |
|
Long Term
Borrowings |
|
|
|
From Bodies Corporates |
290.637 |
341.074 |
|
TOTAL
|
290.637 |
341.074 |
CONTINGENT LIABILITIES:
|
Particulars |
31.03.2013 [Rs.
in millions] |
31.03.2012 [Rs.
in millions] |
|
Guarantees given by bank on behalf of the company
and counter guarantees given by the company |
|
|
|
To Indian Oil
Corporation Limited |
60.000 |
50.000 |
|
To Others |
2.912 |
0.500 |
|
TOTAL |
62.912 |
50.500 |
FIXED ASSETS:
·
Factory Shed and Building
·
Plant and Machinery
·
Motors
·
Vehicles
·
Furniture and Fixtures
·
Office Equipments
·
Computer
·
Office Premises
·
Leasehold Land
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.83.33 |
INFORMATION DETAILS
|
Information Gathered
by : |
PDT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
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 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
2 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
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.