MIRA INFORM REPORT
|
Report Date : |
17.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
THE WEST BENGAL POWER DEVELOPMENT CORPORATION LIMITED |
|
|
|
|
Registered
Office : |
Bidyut Unnayan Bhaban, 3/C, LA-Block, Sector-III, Bidhannagar, Kolkata
– 700098, West Bengal |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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|
|
|
Date of
Incorporation : |
05.07.1985 |
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|
Com. Reg. No.: |
21-089154 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.41133.255 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U01222WB1985PLC089154 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
|
Line of Business
: |
They are into power generation, its government owned company. |
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|
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|
No. of Employees
: |
4700 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (57) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 210000000 |
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|
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|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a wholly owned company by Government of West Bengal. It is
an established company having good track record. Financial position of the
company is sound. Trade relation reported to be fair. Business appears to strike off as
per status in registrar of companies but business is active. As confirmed by
Mr. Deepchand Chatterjee. Payment terms are reported to be regular and as per
commitment. In view of government support, company can be considered normal for
business dealing at usual trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 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.
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. Deepchand Chatterjee |
|
Designation : |
DGM Finance |
|
Contact No.: |
91-9432021106 |
|
Date : |
07.04.2014 |
LOCATIONS
|
Registered/ Corporate Office : |
Bidyut Unnayan Bhaban, 3/C, LA-Block, Sector-III, Bidhannagar, Kolkata
– 700098, West Bengal, India |
|
Tel. No.: |
91-33-23350571 / 23393100 |
|
Fax No.: |
91-33-23393286 |
|
E-Mail : |
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|
Website : |
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|
|
|
|
Power Stations : |
·
Kolaghat, District Purba Medinipur, West Bengal,
India ·
Bakreswar, District Birbhum, West Bengal, India ·
Bandel, District Hooghly, West Bengal, India ·
Santaldih, District Purulia, West Bengal, India ·
Sagardighi, District Murshidabad, West Bengal,
India |
DIRECTORS
AS ON 31.03.2013
|
Name : |
Mr. Barun Kr. Ray |
|
Designation : |
IAS – Chairman and Managing Director (w.e.f. 23.11.2012) |
|
|
|
|
Name : |
Mr. Malay Kumar De |
|
Designation : |
IAS – Director |
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|
|
|
Name : |
Mr. H. K. Dwivedi |
|
Designation : |
IAS – Director |
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|
|
|
Name : |
Mr. Ardhendu Sen |
|
Designation : |
IAS (Retd.) – Director |
|
|
|
|
Name : |
Mr. N. N. Misra |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. S. Radhakrishnan |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Rajat Kumar Majumder |
|
Designation : |
Director (w.e.f. 13.03.2013) |
|
|
|
|
Name : |
Mr. Monotosh Raychaudhuri |
|
Designation : |
Director (F and A and RA) |
|
|
|
|
Name : |
Mr. Ashis Kumar Ghoshal |
|
Designation : |
Director (Projects) |
|
|
|
|
Name : |
Mr. Syamsunder Sen |
|
Designation : |
Director (O and M) (w.e.f. 04.06.2013) |
KEY EXECUTIVES
|
Name : |
Mr. Amit Bhattacharyya |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS
SHAREHOLDERS DETAILS ARE NOT AVAILABLE.
BUSINESS DETAILS
|
Line of Business : |
They are into power generation, its government owned company. |
GENERAL INFORMATION
|
Suppliers : |
Bharat Heavy Electricals Limited |
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No. of Employees : |
4700 (Approximately) |
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Bankers : |
·
State Bank of India ·
Allahabad Bank ·
United Bank of India ·
Indian Bank ·
Indian Overseas bank ·
HDFC Bank
Limited ·
Punjab National bank |
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Facilities : |
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Banking
Relations : |
-- |
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Statutory Auditors : |
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|
Name : |
R. Kothari and Company Chartered Accountants |
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|
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Cost Auditors : |
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|
Name : |
S.S. Sonthalia and Company Cost Accountants |
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|
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Joint Venture : |
·
Bengal EMTA Coal Mines Limited (BECML) ·
West Bengal Green Energy Development Corporation Limited
(WBGEDCL) |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000000 |
Equity Shares |
Rs.1000/- each |
Rs.50000.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
41133255 |
Equity Shares |
Rs.1000/- each |
Rs.41133.255 Millions |
|
|
|
|
|
Reconciliation of the shares outstanding at the beginning and at the end
of the reporting period
|
Equity Shares |
Number
of Shares |
|
Shares outstanding at the beginning of the year |
39613255 |
|
Shares issued during the year |
1520000 |
|
Shares outstanding at the end of the year |
41133255 |
Terms/Rights attached to equity shares
The company has only one class of equity
shares having a par value of Rs.1000/- per share. Each holder of equity shares,
present in person or proxy, is entitled to one vote for each share held by him.
The company declares and pays dividends in Indian rupees. The dividend proposed
by the Board of Directors is subject to the approval of the shareholders in the
ensuring Annual General Meeting.
In the event of liquidation of the company,
the holders of equity shares will be entitled to receive remaining assets of
the company, after distribution of all preferential amounts. The distribution
will be in proportion to the capital paid up at the commencement of the winding
up.
Details of shareholders holding more than 5% shares in the company
|
Equity Shares |
Number
of Shares |
|
The Governor of West Bengal |
41133145 |
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 |
41,133.255 |
39,613.255 |
39,613.255 |
|
(b) Reserves & Surplus |
12,468.133 |
11,151.495 |
7,419.519 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.001 |
820.001 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
53,601.389 |
51,584.751 |
47,032.774 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
63,116.310 |
54,703.770 |
49,645.105 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
2,752.805 |
2,596.040 |
2,558.144 |
|
(d) long-term
provisions |
6,271.892 |
5,356.196 |
4,916.661 |
|
Total Non-current Liabilities
(3) |
72,141.007 |
62,656.006 |
57,119.910 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
10,404.037 |
10,269.430 |
9,453.930 |
|
(b) Trade
payables |
17,478.404 |
14,744.602 |
6,547.541 |
|
(c) Other current
liabilities |
30,657.529 |
24,362.355 |
22,979.672 |
|
(d) Short-term
provisions |
1,676.763 |
1,347.444 |
396.229 |
|
Total Current
Liabilities (4) |
60,216.733 |
50,723.831 |
39,377.372 |
|
|
|
|
|
|
TOTAL |
185,959.129 |
164,964.588 |
143,530.056 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
85,036.425 |
88,731.114 |
80,870.602 |
|
(ii)
Intangible Assets |
19.514 |
4.541 |
0.000 |
|
(iii) Capital
work-in-progress |
19,688.222 |
7,503.642 |
11,159.957 |
|
(iv)
Intangible assets under development |
0.000 |
15.046 |
0.000 |
|
(b) Non-current Investments |
68.931 |
118.931 |
96.431 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
312.658 |
211.804 |
1,501.663 |
|
(e) Other
Non-current assets |
29,528.222 |
21,925.520 |
6,940.588 |
|
Total Non-Current
Assets |
134,653.972 |
118,510.598 |
100,569.241 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
110.000 |
|
(b)
Inventories |
8,200.512 |
5,392.113 |
4,813.903 |
|
(c) Trade
receivables |
18,973.775 |
14,361.022 |
6,435.225 |
|
(d) Cash
and cash equivalents |
5,231.124 |
2,619.388 |
2,264.672 |
|
(e) Short-term
loans and advances |
3,426.530 |
3,028.086 |
1,464.471 |
|
(f) Other
current assets |
15,473.216 |
21,053.381 |
27,872.544 |
|
Total
Current Assets |
51,305.157 |
46,453.990 |
42,960.815 |
|
|
|
|
|
|
TOTAL |
185,959.129 |
164,964.588 |
143,530.056 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
80,212.835 |
71,233.901 |
58,401.833 |
|
|
|
Other Income |
1,105.679 |
693.289 |
492.520 |
|
|
|
TOTAL (A) |
81,318.514 |
71,927.190 |
58,894.353 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
59,549.770 |
49,027.107 |
40,718.223 |
|
|
|
Employee Benefits Expenses |
3,984.860 |
3,188.161 |
3,362.489 |
|
|
|
Other Expenses |
5,722.554 |
5,387.888 |
5,297.175 |
|
|
|
TOTAL (B) |
69,257.184 |
57,603.156 |
49,377.887 |
|
|
|
|
|
|
|
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
12,061.330 |
14,324.034 |
9,516.466 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
6,269.943 |
5,600.512 |
4,731.308 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
5,791.387 |
8,723.522 |
4,785.158 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
4,145.430 |
3,969.287 |
3,811.475 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
1,645.957 |
4,754.235 |
973.683 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
329.319 |
951.217 |
194.059 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
1,316.638 |
3,803.018 |
779.624 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
9,949.621 |
6,538.341 |
5,884.362 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to Reserve for Unforeseen
Exigencies |
0.000 |
280.847 |
125.645 |
|
|
|
Transfer to Reserve for Interest Earned on
Investment of Fund |
66.702 |
110.891 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
11,199.557 |
9,949.621 |
6,538.341 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Spares and Other Items |
53.473 |
103.660 |
91.644 |
|
|
TOTAL IMPORTS |
53.473 |
103.660 |
91.644 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
32.65 |
96.00 |
20.02 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.62 |
5.29 |
1.32 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.05 |
6.67 |
1.67 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.99 |
3.02 |
0.74 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03 |
0.09 |
0.02 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.37 |
1.26 |
1.26 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.85 |
0.92 |
1.09 |
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 |
39613.255 |
39613.255 |
41133.255 |
|
Reserves & Surplus |
7419.519 |
11151.495 |
12468.133 |
|
Share Application money
pending allotment |
0.000 |
820.001 |
0.001 |
|
Net
worth |
47032.774 |
51584.751 |
53601.389 |
|
|
|
|
|
|
long-term borrowings |
49645.105 |
54703.770 |
63116.310 |
|
Short term borrowings |
9453.930 |
10269.430 |
10404.037 |
|
Total
borrowings |
59099.035 |
64973.200 |
73520.347 |
|
Debt/Equity
ratio |
1.257 |
1.260 |
1.372 |
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 |
58,401.833 |
71,233.901 |
80,212.835 |
|
|
|
21.972 |
12.605 |
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
|
58,401.833 |
71,233.901 |
80,212.835 |
|
Profit |
779.624 |
3,803.018 |
1,316.638 |
|
|
1.33% |
5.34% |
1.64% |
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 |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
Yes |
|
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] |
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 |
UNSECURED LOANS:
|
Particulars |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
Long Term Borrowings |
|
|
|
Loan from Government of West Bengal |
|
|
|
For Bakreswar
Project Unit I to III |
5957.994 |
7214.707 |
|
For Bakreswar
Project IV to V |
11512.994 |
12419.129 |
|
|
|
|
|
Short Term Borrowings |
|
|
|
From Government
of West Bengal |
600.000 |
600.000 |
|
|
|
|
|
Total |
18070.988 |
20233.836 |
NO CHARGES EXIST FOR COMPANY.
FIXED ASSETS:
·
Land
·
Roads, Drainage,
Reservoir
·
Building – Main Plant
·
Building - Others
·
Other Civil Works
·
Water Supply Drainage and
Sewerage
·
Reservoir and Dam
·
Vehicles and Speed Boat
·
Transmission System
·
Transformer Substation
·
Water Intake and Plant
Water System
·
B O B R Wagon
·
Electrification and
Signaling off
·
Railway track
·
Railway sliding
·
Plant and Machinery
·
Communication system
·
Electrical Installation
·
Air Conditioning system
·
Capital spares
·
Simulator Training
Package
·
Wagon Tripler
·
Hydrogen Generation Plant
·
Office Complex
·
Leasehold land
·
Building
·
Furniture
·
Office equipment
·
Vehicles
·
Roads and Drainage
·
Guest house
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.60.23 |
|
|
1 |
Rs.100.79 |
|
Euro |
1 |
Rs.83.29 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
57 |
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.