MIRA
INFORM REPORT
|
Report Date : |
16.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
GETECH EQUIPMENTS INTERNATIONAL PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No 194/3 and 4, IDA Phase II, Cherlapally
Road HCL Post, Hyderabad-500051, Andhra Pradesh |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
03.01.2011 |
|
|
|
|
Com. Reg. No.: |
01-072000 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.5.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29253AP2011PTC072000 |
|
|
|
|
IEC No.: |
0906005701 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
HYDG10343E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECG1167F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer Multipurpose Drilling Rigs, Tools and Accessories. |
|
|
|
|
No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (36) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 259000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The rating reflects GEIPL’s modest scale of operations
in the highly competitive drilling equipment industry and working capital
intensive nature of the business. 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.
ECGC Country Risk Classification List – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
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
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects
positive impact of the election cycle.
India’s economy may grow
4.7 % in the current financial year, lower than the official estimate of 4.9 %,
Fitch Rating said. The global rating agency expects the economy to pick up in
the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1
million Indian tourists in 2012), Thailand (one million), the United Arab
Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred
holidays hotspots for Indians. The total figure is expected to increase to 1.93
million by 2017, according to the latest Eurmonitor
international report.
There is a $29.34 bn outward foreign direct investment by domestic companies between
April and January of 2013/14 which has seen some signs of recovery according to
a Care Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to
raise $ 500 million via a US initial public offering. Alibaba,
which owns a stake in Weibo is expected to raise
about $ 15 billion New York this year in the highest profile Internet IPO since
Facebook’s in 2012.
Bharti Airtel has raised
Rs.2,453.2 crore (350 million Swiss Francs) by
selling six-year bonds at a coupon rate of three per cent and maturing in 2020.
This is the largest ever bond offering by an Indian company in Swiss Francs. Bharat Petroleum Corporation raised 175 million Swiss
Francs by selling five year bonds at 2.98 % coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex at its almost
complete Paradip refinery in Odhisha
in three to four years. The company board is set to consider the setting up of
a 700000 tonne per annum polypropylene plant at an
estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye
Labs-Facebook type deals in the making.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating BB- |
|
Rating Explanation |
Moderate risk of default and high credit
risk. |
|
Date |
March 30, 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. Prabhakar Rao |
|
Designation : |
Personal Assistant of Director |
|
Contact No.: |
91-9346636700 |
|
Date : |
22.03.2014 |
LOCATIONS
|
Registered Office/ Factory 1: |
Plot No 194/3 and 4, IDA Phase II, Cherlapally
Road HCL Post, Hyderabad-500051, Andhra Pradesh, India |
|
Tel. No.: |
91-40-27266700 |
|
Mobile No.: |
91-9391669448 (Mrs. V Geeta Nair) 91-9346636700 (Mr. Prabhakar) |
|
Fax No.: |
91-40-27261332 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 2: |
Plot No.200/12, Phase II, IDA Cherlapally,
HCL Post, Hyderabad – 500051, Andhra Pradesh, India |
|
Tel. No.: |
91-40-27265700 |
|
Fax No.: |
91-40-27261332 |
DIRECTORS
|
Name : |
Mrs. Geetha Vijayan
Nair |
||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||
|
Address : |
P No.34, Phase – II, Brindavan Cly Dr. A S Rao Nagar CLY ECIL Rangareddy –
500062, Andhra Pradesh, India |
||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
28.05.1966 |
||||||||||||||||||||||||||||||||
|
Qualification : |
MBA |
||||||||||||||||||||||||||||||||
|
Date of Appointment : |
03.01.2011 |
||||||||||||||||||||||||||||||||
|
DIN No.: |
02632141 |
||||||||||||||||||||||||||||||||
|
Other Directorship : |
|
||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||
|
Name : |
Mr. Vijaya Kumaran
Nair Kandathil Parameswaran
Nair |
||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||
|
Address : |
Plot No 25, Radha Regal Rows, Kantiguda, Opposite Kalyan
Garden, Yapral, Rangareddy-500087, Andhra Pradesh,
India |
||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
10.10.1957 |
||||||||||||||||||||||||||||||||
|
Qualification : |
BE |
||||||||||||||||||||||||||||||||
|
Date of Appointment : |
03.01.2011 |
||||||||||||||||||||||||||||||||
|
DIN No.: |
03273714 |
||||||||||||||||||||||||||||||||
|
Other Directorship : |
|
||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Prabhakar Rao |
|
Designation : |
Personal Assistant of Director |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
|
Names of Shareholders |
No. of Shares |
%age |
|
K. P. V. Nair |
16000 |
3.20 |
|
K. Laxma Reddy |
16000 |
3.20 |
|
Geetha V. Nair |
448000 |
89.60 |
|
Anitha Presanna |
5000 |
1.00 |
|
K. Priya |
5000 |
1.00 |
|
K. Bhasi Pillai |
5000 |
1.00 |
|
K. Rajeswari |
5000 |
1.00 |
|
Total |
500000 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer Multipurpose Drilling Rigs, Tools and Accessories. |
|
|
|
|
Exports : |
|
|
Products : |
Finished Goods |
|
Countries : |
· Netherland · Kenya · South Africa · Uganda · New Zealand |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
100 (Approximately) |
||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
· HDFC Bank, HDFC House, Senapati Bapat Marg, Lower Parel (West), Mumbai – 400013, Maharashtra, India · State bank of Hyderabad, MSME Cherlapally Branch, Cherlapally, Hyderabad – 500051, Andhra Pradesh, India |
||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
NOTE: SBH loan is secured by the factory land and building, plant and
machinery of the company. SBH CC and SBH – EPC is secured by hypothecation of stock, receivables
and other chargeable current assets |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
T P Rao and Company Chartered Accountant |
|
Address : |
Plot No. 32, Flat No. 114, HUDA Complex, Saroornagar,
Hyderabad, Andhra Pradesh, India |
|
PAN
No. : |
AAWPT7604F |
|
|
|
|
Memberships : |
· Federation of Andhra Pradesh Chambers and Commerce of Industries (FAPCII) · Confederation of Indian Industry (CII) · Engineering Exports Promotion Council (EEPC) · Australian Drilling Association (ADA) |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4000000 |
Equity Shares |
Rs.10/- each |
Rs.40.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000
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 |
5.000 |
5.000 |
5.000 |
|
(b) Reserves & Surplus |
16.014 |
6.850 |
1.212 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
43.832 |
11.100 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
64.846 |
22.950 |
6.212 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
12.695 |
15.201 |
10.854 |
|
(b) Deferred tax liabilities (Net) |
0.013 |
0.193 |
0.060 |
|
(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) |
12.708 |
15.394 |
10.914 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short term borrowings |
47.007 |
43.825 |
29.989 |
|
(b) Trade payables |
90.021 |
84.014 |
33.264 |
|
(c) Other current liabilities |
97.315 |
61.866 |
5.869 |
|
(d) Short-term provisions |
4.018 |
2.484 |
0.407 |
|
Total
Current Liabilities (4) |
238.361 |
192.189 |
69.529 |
|
|
|
|
|
|
TOTAL |
315.915 |
230.533 |
86.655 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
33.142 |
17.299 |
3.231 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
7.867 |
6.428 |
0.574 |
|
(e) Other Non-current assets |
0.143 |
0.191 |
0.238 |
|
Total
Non-Current Assets |
41.152 |
23.918 |
4.043 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
67.210 |
64.989 |
10.959 |
|
(c) Trade receivables |
181.749 |
120.747 |
70.951 |
|
(d) Cash and cash equivalents |
1.531 |
1.158 |
0.382 |
|
(e) Short-term loans and advances |
24.273 |
18.668 |
0.320 |
|
(f) Other current assets |
0.000 |
1.053 |
0.000 |
|
Total
Current Assets |
274.763 |
206.615 |
82.612 |
|
|
|
|
|
|
TOTAL |
315.915 |
230.533 |
86.655 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
432.460 |
305.886 |
81.863 |
|
|
|
Other Income |
1.096 |
0.304 |
(0.195) |
|
|
|
TOTAL |
433.556 |
306.190 |
81.668 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Materials |
346.171 |
289.225 |
73.842 |
|
|
|
Manufacturing Expenses |
26.500 |
14.923 |
0.961 |
|
|
|
Employees benefits expense |
26.068 |
6.669 |
2.040 |
|
|
|
Increase / (decrease) in stock |
(16.313) |
(46.550) |
0.000 |
|
|
|
Other expenses |
24.821 |
29.560 |
2.422 |
|
|
|
TOTAL |
407.247 |
293.827 |
79.265 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
26.309 |
12.363 |
2.403 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
12.828 |
3.859 |
0.575 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
13.481 |
8.504 |
1.828 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.479 |
0.249 |
0.048 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
13.002 |
8.255 |
1.780 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
3.838 |
2.617 |
0.568 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
9.164 |
5.638 |
1.212 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
5.00 |
11.28 |
2.42 |
|
Expected Sales (2012-13): Rs.450.000 Millions
The above information has been parted by Mr. Prabhakar
Rao
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
2.11 |
1.84 |
1.48 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.01 |
2.70 |
2.17 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.12 |
3.58 |
2.05 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20 |
0.36 |
0.29 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.92 |
2.57 |
6.57 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.15 |
1.08 |
1.19 |
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 |
5.000 |
5.000 |
5.000 |
|
Reserves & Surplus |
1.212 |
6.850 |
16.014 |
|
Net
worth |
6.212 |
11.850 |
21.014 |
|
|
|
|
|
|
long-term borrowings |
10.854 |
15.201 |
12.695 |
|
Short term borrowings |
29.989 |
43.825 |
47.007 |
|
Total
borrowings |
40.843 |
59.026 |
59.702 |
|
Debt/Equity
ratio |
6.575 |
4.981 |
2.841 |
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 |
81.863 |
305.886 |
432.460 |
|
|
|
273.656 |
41.379 |
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 |
81.863 |
305.886 |
432.460 |
|
Profit |
1.212 |
5.638 |
9.164 |
|
|
1.48% |
1.84% |
2.12% |
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 |
No |
|
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 LOANS
|
PARTICULAR |
31.03.2013 (Rs. In Millions) |
31.03.2012 (Rs. In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
From shareholders and others |
2.937 |
8.093 |
|
|
|
|
|
Total |
2.937 |
8.093 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification
|
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10356302 |
17/09/2012 * |
83,000,000.00 |
STATE BANK OF HYDERABAD |
MSME CHERLAPALLY BRANCH, CHERLAPALLY, HYDERABAD, Andhra Pradesh - 500051,
INDIA |
B59732560 |
* Date of charge modification
FIXED ASSETS
œ
Factory Building
œ
Office equipment
œ
Mobiles
œ
Lathe Machine
œ
Printers
œ
Fax Machine
œ
Air Conditioner
œ
Furniture and Fixture
œ
Computers
œ
Software
œ
Scooty
œ
Car
œ
Construction – W.I. P.
œ
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 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.60.26 |
|
|
1 |
Rs.100.71 |
|
Euro |
1 |
Rs.83.27 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
36 |
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.