MIRA INFORM REPORT
|
Report Date : |
12.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
BASELL POLYOLEFINS INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
B, 303/305, Delphi, 3rd Floor, B Wing, Hiranandani, Business
Park, Powai, Mumbai – 400076, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
12.10.2004 |
|
|
|
|
Com. Reg. No.: |
11-149090 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 0.200 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25209MH2004PTC149090 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMB14548C |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in trading, manufacturing and selling of Compounded Polyolefins (PCMA) products. |
|
|
|
|
No. of Employees
: |
Information Decline by the management |
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 360000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of “Basell International Holdings B.V.,
Netherland”. It is an established company having satisfactory track record. Management of the company has changed its financial year from Dec 2011
to March 2013 ranging from (Dec 2011 to March 2013) for 15 months. The financial position of the company is good. No borrowings recorded
by the company. The company is performing well. Trade relations are reported as fair. Business is active. Payments are
reported to be usually correct and as per commitment. The company 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.
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-cooperative (Tel. No.: 91-22-67061111 / 100)
LOCATIONS
|
Registered Office : |
B, 303/305, Delphi, 3rd Floor, B Wing, Hiranandani,
Business Park, Powai, Mumbai – 400076, Maharashtra, India |
|
Tel. No.: |
91-22-67061111 |
|
Fax No.: |
91-22-67061100 |
|
E-Mail : |
|
|
Website : |
http://www.lyondellbasell.com |
|
|
|
|
Warehouse : |
D-103/104, MIDC Ranjangaon, Pune – 419204, Maharashtra, India |
DIRECTORS
As on: 24.09.2013
|
Name : |
Mrs. Ritu Nandedkar Kohli |
|
Designation : |
Managing director |
|
Address : |
A-703, Lotus Hiranandani Garden, Powai, Mumbai – 400076, Maharashtra,
india |
|
Date of Birth/Age : |
29.05.1969 |
|
Date of Appointment : |
15.04.2013 |
|
DIN No.: |
05201744 |
|
|
|
|
Name : |
Mr. Hemant Ganesh Vaidya |
|
Designation : |
Whole time director |
|
Address : |
Vidhata Co-operative Housing Society, Flat 12, 5th Floor,
126 Ram Maruti Road, Dadar, Mumbai – 400028, Maharashtra, India |
|
Date of Birth/Age : |
09.10.1958 |
|
Date of Appointment : |
22.03.2013 |
|
DIN No.: |
06532053 |
|
|
|
|
Name : |
Mr. Brian Richard Goedke |
|
Designation : |
Director |
|
Address : |
59 W, Old Sterling, Circle the Woodlands, Texas – 77382 |
|
Date of Birth/Age : |
29.08.1953 |
|
Date of Appointment : |
16.04.2013 |
|
DIN No.: |
06543686 |
KEY EXECUTIVES
|
Name : |
Mr. Vinaych Sanjay Bhuptani |
|
Designation : |
Secretary |
|
Address : |
504, Blue Shelter Motiram Mhatre Road, Kander Road, Dahisar (West),
Mumbai – 400068, Maharashtra, India |
|
Date of Birth/Age : |
17.02.1969 |
|
Date of Appointment : |
05.09.2007 |
|
PAN No.: |
AADPB6293K |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 24.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Basell International Holding BV, Netherland |
|
19999 |
|
Basell Europe Holdings BV, |
|
1 |
|
|
|
|
|
Total |
|
20000 |
Equity Share Break up (Percentage of Total Equity)
As on: 24.09.2013
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in trading, manufacturing and selling of Compounded Polyolefins (PCMA) products. |
GENERAL INFORMATION
|
No. of Employees : |
Information Decline by the management |
|
|
|
|
Bankers : |
Not Available |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse Chartered Accountants |
|
Address : |
252, Veer Savarkar Marg, Shivaji Park, Dadar West, Mumbai – 400028,
Maharashtra, India |
|
PAN No.: |
AAEFP3641G |
|
|
|
|
Holding Company : |
|
|
|
|
|
Ultimate Holding
Company : |
|
|
|
|
|
Fellow Subsidiaries
: |
|
CAPITAL STRUCTURE
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.10/- each |
Rs. 0.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000 |
Equity Shares |
Rs.10/- each |
Rs. 0.200
Million |
|
|
|
|
|
As on: 24.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.10/- each |
Rs. 0.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
27500 |
Equity Shares |
Rs.10/- each |
Rs. 0.275
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
|
31.03.2013 (15 Months) |
31.12.2011 (12
Months) |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
0.200 |
0.200 |
|
(b) Reserves & Surplus |
|
90.896 |
78.585 |
|
(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) |
|
91.096 |
78.785 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
5.581 |
2.558 |
|
Total
Non-current Liabilities (3) |
|
5.581 |
2.558 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
0.000 |
0.000 |
|
(b) Trade payables |
|
81.250 |
53.241 |
|
(c) Other current liabilities |
|
20.118 |
26.086 |
|
(d) Short-term provisions |
|
5.206 |
0.577 |
|
Total
Current Liabilities (4) |
|
106.574 |
79.904 |
|
|
|
|
|
|
TOTAL |
|
203.251 |
161.247 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
0.376 |
0.056 |
|
(ii) Intangible Assets |
|
0.231 |
0.881 |
|
(iii) Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
3.899 |
1.435 |
|
(d) Long-term Loan and Advances |
|
37.733 |
30.133 |
|
(e) Other Non-current assets |
|
12.465 |
15.119 |
|
Total
Non-Current Assets |
|
54.704 |
47.624 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
82.184 |
73.456 |
|
(c) Trade receivables |
|
59.658 |
30.461 |
|
(d) Cash and cash equivalents |
|
0.826 |
1.648 |
|
(e) Short-term loans and
advances |
|
5.687 |
7.785 |
|
(f) Other current assets |
|
0.192 |
0.273 |
|
Total
Current Assets |
|
148.547 |
113.623 |
|
|
|
|
|
|
TOTAL |
|
203.251 |
161.247 |
|
SOURCES OF FUNDS |
|
|
31.12.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
0.100 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
36.632 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
36.732 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
36.732 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
1.402 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.949 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
20.634 |
|
|
Sundry Debtors |
|
|
17.969 |
|
|
Cash & Bank Balances |
|
|
11.177 |
|
|
Other Current Assets |
|
|
0.043 |
|
|
Loans & Advances |
|
|
27.881 |
|
Total
Current Assets |
|
|
77.704 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
28.282 |
|
|
Other Current Liabilities |
|
|
11.348 |
|
|
Provisions |
|
|
3.693 |
|
Total
Current Liabilities |
|
|
43.323 |
|
|
Net Current Assets |
|
|
34.381 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
36.732 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2013 (15 Months) |
31.12.2011 (12
Months) |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
|
546.416 |
320.050 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
|
530.777 |
327.936 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND
AMORTISATION |
|
15.639 |
(7.886) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
0.792 |
0.548 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX |
|
14.847 |
(8.434) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
2.536 |
(0.487) |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
|
12.311 |
(7.947) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Service Income |
|
255.511 |
176.639 |
|
|
|
Reimbursement of cost of fixed assets (Net) |
|
12.341 |
5.874 |
|
|
TOTAL EARNINGS |
|
267.852 |
182.513 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
137.953 |
50.327 |
|
|
|
Traded goods |
|
40.878 |
74.425 |
|
|
TOTAL IMPORTS |
|
178.831 |
124.752 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
615.57 |
(709.26) |
|
|
|
PARTICULARS |
|
|
31.12.2010 (12 months) |
|
|
|
SALES |
|
|
|
|
|
|
|
Service Fees (Gross Receipts) |
|
|
181.977 |
|
|
|
Net Sales (Trading) |
|
|
16.871 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
|
|
NA |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
|
10.495 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
|
0.173 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
|
|
10.321 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
|
3.993 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
|
|
6.328 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Service Income |
|
|
181.977 |
|
|
TOTAL EARNINGS |
|
|
181.977 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
632.85 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 (15 Months) |
31.12.2011 (12
Months) |
31.12.2010 |
|
PAT / Total Income |
(%) |
2.25 |
(2.48) |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.45 |
(5.28) |
13.05 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16 |
(0.11) |
0.29 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.39 |
1.42 |
1.79 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.12.2011 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
0.200 |
0.200 |
|
Reserves & Surplus |
78.585 |
90.896 |
|
Net
worth |
78.785 |
91.096 |
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.12.2011 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
320.050 |
546.416 |
|
|
0.000 |
70.728 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.12.2011 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
320.050 |
546.416 |
|
Profit |
(7.947) |
12.311 |
|
|
(2.48)% |
2.25% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS: NOT AVAILABLE
|
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 |
No |
|
24] |
Banking facility details |
No |
|
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 |
No |
GENERAL INFORMATION
Basell Polyolefins India Private Limited (“the Company”) was incorporated on October 12, 2004. The Company is a subsidiary of Basell International Holdings B.V., Netherlands. The Company is engaged in the business of rendering projects, engineering and polyolefins product related services and advice including technical support and other consultancy services [collectively referred as ‘support services’] to its Group Companies. Further, the Company is also engaged in trading, manufacturing and selling of Compounded Polyolefins (PCMA) products.
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. 60.27 |
|
|
1 |
Rs. 101.10 |
|
Euro |
1 |
Rs. 83.73 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
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.