MIRA
INFORM REPORT
|
Report Date : |
28.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
EAGLE HOME APPLIANCES PRIVATE LIMITED |
|
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Registered
Office : |
4th Floor, Parmar Gallery, S. No. 77, |
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Country : |
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|
Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
11.01.1965 |
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Com. Reg. No.: |
11-139986 |
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Capital
Investment / Paid-up Capital : |
Rs. 0.500 Million |
|
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|
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CIN No.: [Company Identification
No.] |
U26100PN1965PTC139986 |
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|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader and Exporter of Home Appliances. |
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No. of Employees
: |
195 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 66000 |
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|
Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. The company has incurred loss from its operational activities during financial
year 2013. Further company has taken huge external borrowing, which acts as
threatening to the liquidity position of the company. However, trade relations are fair. Business is active. Payments are
reported to be slow. The company can be considered for business dealing 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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
N E W S
As per the latest IMF study, the total weigh of emerging markets in the GDP
of the world on a purchasing power parity basis has seen a sizeable shift. It
highlights how as against 51 % in 2005, the emerging economies now account for
close to 56 % of the global purchasing power GDP as per the latest survey. And
with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the their share goes up further
in the coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The
prospects of the India’s economy have been seriously compromised due to
political corruption. High inflation, poor standard of living are to a great
extent a result of rampant corruption in the country. China on the other hand,
seems to be facing diametrically opposite challenge. American hedge fund
manager Jim Chanos has been keenly following the political and economic
development in the dragon economy and has figured out something that is quite
worrying. He is of the view that the Chinese economy could be heading toward
trouble on account of new Chinese President Xi Jingping’s very aggressive
anti-corruption drive. Chanos believes that many things such as apartment
sales, luxury products, etc. were largely bought with dirty money. And it is
now beginning to impact consumption. This may indeed be bad news for an economy
that is struggling to transition from an investment-driven export-oriented
economy to a domestic consumption-driven economy.
A study published by Firstpost has revealed that asset classes like real
estate and equities were the biggest beneficiaries of the liberalization
policies. A firm called Ciane Analytics studied returns from assets including
equities, gold, fixed deposits, G-Secs and real estate since 1991. Real estate
outperformed every other asset classes during the 23-year period with an
annualized return of 20 % ! Equities came in second with annualized return of
15.5 % ! However, while these returns may seem mouthwatering, the fact is that
the return from equities adjusted for inflation came down to just 7.1 %.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
. India seeks MFN status from Pakistan ahead of meeting
. Ukrain’s clashes with rebels hinder MH17 crash investigation
. India exploring merger of state-owned hydro PSUs
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs 10000 mn.
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
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Shailesh |
|
Designation : |
Assistant Manager in Accounts |
|
Contact No.: |
91-20-66028561 |
|
Date : |
27.08.2014 |
LOCATIONS
|
Registered Office : |
4th Floor, Parmar Gallery, S. No. 77, Shivarkar Road, Wanawadi,
Pune – 411040, Maharashtra, India |
|
Tel. No.: |
91-20-66028561/ 66055976 |
|
Fax No.: |
91-20-66028563 |
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E-Mail : |
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|
Website : |
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Marketing Office : |
12, New India Industrial Estate, Mahakali Caves Road, Andheri (East),
Mumbai, Maharashtra, India |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. (Dr.) Naushad Ismail Padamsee |
|
Designation : |
Director |
|
Address : |
Padamsee Apartment, 22/29, |
|
Date of Birth/Age : |
31.03.1949 |
|
Date of Appointment : |
01.05.1976 |
|
DIN No.: |
01631916 |
|
|
|
|
Name : |
Mr. Riaz Alimohamad Padamsee |
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Designation : |
Director |
|
Address : |
Bunglow No. A/19, Padma Vilas Enclave, Wanawadi, Pune – 411048, |
|
Date of Birth/Age : |
31.12.1949 |
|
Date of Appointment : |
08.08.1997 |
|
DIN No.: |
01632000 |
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|
|
|
Name : |
Mrs. Daulat Ismail Padamsee |
|
Designation : |
Director |
|
Address : |
Padamsee Apartment, 22/29, |
|
Date of Birth/Age : |
04.11.1929 |
|
Date of Appointment : |
01.05.1976 |
|
DIN No.: |
01640383 |
|
|
|
|
Name : |
Mrs. Shamim Mumtaz Padamsee |
|
Designation : |
Director |
|
Address : |
Padamsee Apartment, 22/29, |
|
Date of Birth/Age : |
07.06.1947 |
|
Date of Appointment : |
17.06.1993 |
|
DIN No.: |
01654291 |
KEY EXECUTIVES
|
Name : |
Mr. Shailesh |
|
Designation : |
Assistant Manager in Accounts |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Zohra Niaquat Padamsee |
190 |
3.80 |
|
Nadirshah Naushad Padamsee |
250 |
5.00 |
|
Ginan Riaz Padamsee |
340 |
6.80 |
|
Nusha Mumtaz Padamsee |
160 |
3.20 |
|
Niaquat Naushad Padamsee |
60 |
1.20 |
|
Equitable Finance Limited, India |
4000 |
80.00 |
|
Total |
5000 |
100.00 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
80.00 |
|
Directors or relatives of Directors |
20.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader and Exporter of Home Appliances. |
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Exports : |
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Products : |
Home Appliances |
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Countries : |
· Dubai Middle East |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Cash and Credit (30 Days and 60 Days) |
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Purchasing : |
Cash and Credit (30 Days and 60 Days) |
GENERAL INFORMATION
|
Suppliers : |
Not Divulged |
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Customers : |
Retailers and End Users |
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No. of Employees : |
195 (Approximately) |
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Bankers : |
Oriental Bank of Commerce, Wanawadi, Sacred Heart Town, Pune - 411040,
Maharashtra, India |
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Facilities : |
NOTE LONG TERM
BORROWINGS Term loan from Banks are secured against the hypothecation of vehicles purchased under these loans Terms of Repayment of Term Loans from Banks: Term loan from ICICI are repayable in 48 equated monthly instalments ending on 16th of August, 2014. Term loans from HDFC Bank are repayable in 48 equated monthly instalments ending on 7th October, 2013, 7th June, 2014, 4th July, 2015 and 10th July, 2017 respectively. SHORT TERM
BORROWINGS The bills discounting facility from Oriental Bank of
Commerce, has been secured against first charge on the honour of acceptance
and fixed deposit under lien Rs. 1.280 Millions, book debts and Inventory. |
|
Banking
Relations : |
-- |
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|
|
Auditors : |
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|
Name : |
Deloitte Haskins and Sons Chartered Accountants |
|
Address : |
706, B Wing, 7th Floor, ICC Trade Tower, Senapati Bapat
Road, Pune - 411016, Maharashtra, India |
|
Tel. No.: |
91-20-66244600 |
|
Fax No.: |
91-20-66244605 |
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Income-tax
PAN of auditor or auditor's firm : |
AAACT3316M |
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Associates/Subsidiaries : |
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CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000 |
Equity Shares |
Rs. 100/- each |
Rs. 0.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000 |
Equity Shares |
Rs. 100/- each |
Rs. 0.500 Million |
|
|
|
|
|
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 |
0.500 |
0.500 |
0.500 |
|
(b) Reserves & Surplus |
15.994 |
20.525 |
2.951 |
|
(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) |
16.494 |
21.025 |
3.451 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
42.558 |
47.284 |
58.933 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
58.795 |
5.577 |
4.720 |
|
(d) long-term provisions |
11.261 |
9.360 |
2.936 |
|
Total Non-current Liabilities (3) |
112.614 |
62.221 |
66.589 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
60.631 |
35.015 |
22.298 |
|
(b) Trade payables |
132.091 |
148.069 |
123.490 |
|
(c) Other current
liabilities |
15.816 |
7.077 |
11.373 |
|
(d) Short-term provisions |
3.253 |
2.883 |
7.909 |
|
Total Current Liabilities (4) |
211.791 |
193.044 |
165.070 |
|
|
|
|
|
|
TOTAL |
340.899 |
276.290 |
235.110 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
12.788 |
11.555 |
8.487 |
|
(ii) Intangible Assets |
0.388 |
0.332 |
2.169 |
|
(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 |
48.708 |
48.708 |
48.708 |
|
(c) Deferred tax assets (net) |
4.837 |
2.127 |
0.000 |
|
(d) Long-term Loan and Advances |
89.487 |
52.911 |
58.700 |
|
(e) Other Non-current assets |
18.621 |
28.255 |
29.540 |
|
Total Non-Current Assets |
174.829 |
143.888 |
147.604 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
58.695 |
41.790 |
35.843 |
|
(c) Trade receivables |
92.991 |
72.917 |
45.704 |
|
(d) Cash and cash
equivalents |
3.067 |
10.317 |
4.097 |
|
(e) Short-term loans and
advances |
11.317 |
7.378 |
1.862 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
166.070 |
132.402 |
87.506 |
|
|
|
|
|
|
TOTAL |
340.899 |
276.290 |
235.110 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
723.069 |
599.526 |
516.863 |
|
|
|
|
|
|
|
|
Less |
|
|
|
|
|
|
|
|
TOTAL |
730.310 (Including
Depreciation) |
591.473 |
486.622 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
8.053 |
30.241 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
5.701 |
2.404 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
(7.241) |
2.352 |
27.837 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(2.710) |
(15.222) |
5.121 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
(4.531) |
17.574 |
22.716 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Exports |
11.707 |
0.126 |
1.745 |
|
|
TOTAL EARNINGS |
11.707 |
0.126 |
1.745 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Purchase of Stock-in-trade |
NA |
128.437 |
103.756 |
|
|
TOTAL IMPORTS |
NA |
128.437 |
103.756 |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss)
Per Share (Rs.) |
(906.25) |
3514.80 |
4543.20 |
|
|
Particulars |
|
|
31.03.2014 |
|
|
|
|
|
|
Sales Turnover (Approximately) |
|
|
670.000 |
|
|
|
|
|
Expected Sales (2014-2015): Rs. 700.000 Millions
The above information has been parted by Mr. Shailesh (Assistant Manager
in Accounts).
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(0.63) |
2.93 |
4.39 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(2.52) |
1.04 |
14.93 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.44) |
0.11 |
8.07 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
6.26 |
3.91 |
23.54 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.78 |
0.69 |
0.53 |
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 |
0.500 |
0.500 |
0.500 |
|
Reserves & Surplus |
2.951 |
20.525 |
15.994 |
|
Net
worth |
3.451 |
21.025 |
16.494 |
|
|
|
|
|
|
long-term borrowings |
58.933 |
47.284 |
42.558 |
|
Short term borrowings |
22.298 |
35.015 |
60.631 |
|
Total
borrowings |
81.231 |
82.299 |
103.189 |
|
Debt/Equity
ratio |
23.538 |
3.914 |
6.256 |
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) |
|
Total Income |
516.863 |
599.526 |
723.069 |
|
|
|
15.993 |
20.607 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
516.863 |
599.526 |
723.069 |
|
Profit |
22.716 |
17.574 |
(4.531) |
|
|
4.39% |
2.93% |
(0.63%) |
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
four 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 |
No |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10277965 |
26/06/2012 * |
57,500,000.00 |
ORIENTAL BANK OF COMMERCE LIMITED |
WANAWADI, INDIA, PUNE - 411040, MAHARASHTRA, INDIA |
B45439254 |
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Loans and Advance
from other than related parties |
|
|
|
Loan from Wascon Industries |
1.000 |
1.000 |
|
|
|
|
|
Loans and
advances from related parties |
|
|
|
Equitable Finance Private Limited |
40.435 |
45.650 |
|
|
|
|
|
SHORT TERM
BORROWINGS |
|
|
|
Cash Credit and Working Capital Demand Loan |
19.172 |
14.674 |
|
Others |
0.000 |
1.625 |
|
Other Loans and Advances from Banks |
3.033 |
0.000 |
|
Total |
63.640 |
62.949 |
|
NOTE LONG TERM
BORROWINGS The loans from Wascon Industries are Equitable Finance Private Limited are interest free and as per the agreement there are no specific terms of repayment and based on understanding from the lenders, they are not expected to be repaid during next one year. |
||
CHANGE OF ADDRESS
The registered office of the company has been shifted from 12 Ground
Floor, New India Industrial Estate,
FINANCIAL
PERFORMANCE
During the year, the Company is in loss as against the previous year even though Company’s total revenue is increased from Rs. 599.526 Millions to 723.069 Millions. Total loss of the company for the year is Rs. 4.531 Millions as against the profit of Rs. 17.574 Millions in the previous year.
CONTINGENT
LIABILITIES
|
PARTICULARS |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
Disputed Income Tax Matters * |
33.945 |
28.511 |
|
Disputed Sales Tax Matters |
0.617 |
0.617 |
|
Total |
34.562 |
29.128 |
|
NOTE * Excluding Interest and Penalty |
||
FIXED ASSETS
TANGIBLE ASSETS
· Plant and Equipment
Office
Equipment
Furniture
and Fixtures
Vehicle
INTANGIBLE ASSETS
· Trademarks
Computer
Software
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.60.47 |
|
|
1 |
Rs.100.15 |
|
Euro |
1 |
Rs.79.65 |
INFORMATION DETAILS
|
Information
Gathered by : |
JML |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
26 |
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.