MIRA INFORM REPORT
|
Report Date : |
10.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
VEMB LIFESTYLE PRIVATE LIMITED (w.e.f. 07.01.2011) |
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Formerly Known
As : |
VAISHALI GARMENTS PRIVATE LIMITED |
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Registered
Office : |
D-13, Ansa Industrial Estate, Sakinaka, Andheri (East), Mumbai –
400072, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of Incorporation
: |
05.07.2005 |
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Com. Reg. No.: |
11-154498 |
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Capital
Investment / Paid-up Capital : |
Rs. 48.825
Millions |
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CIN No.: [Company Identification
No.] |
U18101MH2005PTC154498 |
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TAN No.: [Tax Deduction & Collection
Account No.] |
MUMV12719A |
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PAN No.: [Permanent Account No.] |
AACCV0704F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Hand Embroidered Fashion Garments. |
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No. of Employees
: |
200 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject was erstwhile started as a proprietorship concern under the name
of M/S Vaishali Enterprises in 2003, the firm changed its name and
constitution to a private limited company. Management has filed Form 20B, depicting filling of annual return for
FY 14, whereas failed to file any financial statements with the statutory
authorities. As per available, The company possesses a favourable financial profile
marked by adequate networth base along with moderate capital structure and
working capital intensive nature of operations resulting in the higher
utilization of working capital limits, which is further mitigated to an
extent by timely infusion of funds from the promoters. Management has reported a significant growth in its business,
characterized by increase in its sales volume as well as net profitability
during FY13. The ratings also take into consideration the susceptibility of margins
to raw material prices, foreign exchange rates and the prevailing competition
from organized as well as unorganized players in the industry. However, trade relations are fair. Business is active. Payment terms
are reported as usually correct. In view of vast promoter experience, the subject can be considered 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank facilities: “BBB-“ |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
07.11.2013 |
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Rating Agency Name |
CARE |
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Rating |
Short term bank facilities: “A3“ |
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Rating Explanation |
Moderate degree of safety and higher credit risk. |
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Date |
07.11.2013 |
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
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Gopal Singhania |
|
Designation : |
Accounts Manager |
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Contact No.: |
91-9833593910 |
|
Date : |
10.12.2014 |
LOCATIONS
|
Registered Office/ Factory : |
D-13, Ansa Industrial Estate, Sakinaka, Andheri (East), Mumbai –
400072, Maharashtra, India |
|
Tel. No.: |
91-22-40479898 |
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Mobile No.: |
91-9833593910 (Mr. Gopal Singhania) |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Area : |
3000 Sq. Ft. |
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Location : |
Owned |
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Locality : |
Commercial |
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Corporate Office : |
Suntek Centre, 3rd Floor, Subhash Road, Vile Parle (East),
Mumbai – 400057, Maharashtra, India |
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Tel. No.: |
91-22-40350707 |
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Area : |
6000 Sq. Ft. |
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Location : |
Owned |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Punit Shivkumar Agarwal |
|
Designation : |
Director |
|
Address : |
2, Shweta Building, Plot No. 42, 1st Gulmohar Cross Road,
Juhu, Mumbai – 400049, Maharashtra, India |
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Date of Birth/Age : |
19.03.1977 |
|
Date of Appointment : |
05.07.2005 |
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DIN No.: |
00325616 |
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Name : |
Mrs. Neetu Punit Agarwal |
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Designation : |
Director |
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Address : |
2, Shweta Building, Plot No. 42, 1st Gulmohar Cross Road,
Juhu, Mumbai – 400049, Maharashtra, India |
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Date of Birth/Age : |
08.07.1976 |
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Date of Appointment : |
05.07.2005 |
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DIN No.: |
01506024 |
KEY EXECUTIVES
|
Name : |
Mr. Gopal Singhania |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Punit Agarwal |
2379100 |
48.73 |
|
Neetu Agarwal |
719400 |
14.73 |
|
Usha Agarwal |
2500 |
0.05 |
|
Punit Agarwal HUF |
155500 |
3.18 |
|
Kushal Bajaj |
10000 |
0.20 |
|
Athang Trader Private Limited, India |
428000 |
8.77 |
|
Tanaya Enterprises Private Limited, India |
760000 |
15.57 |
|
Hulas Textiles Private Limited, India |
428000 |
8.77 |
|
Total |
4882500 |
100.00 |
As on 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
33.11 |
|
Directors or relatives of directors |
63.51 |
|
Others |
3.38 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Hand Embroidered Fashion Garments. |
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Products : |
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Exports : |
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Products : |
Hand Embroidered Fashion Garments |
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Countries : |
·
Germany ·
Dubai ·
USA ·
Australia |
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Imports : |
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Products : |
Raw Material |
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Countries : |
China |
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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) |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
200 (Approximately) |
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Bankers : |
· Punjab National Bank, MID Corporate Branch, Brady House, V.N.Road, Fort, Mumbai - 400023, Maharashtra, India · Janata Sahakari Bank Limited Pune, 24 Shrikunj Primises Co-operative Housing Society Limited, Hanuman Road Vile Parle East, Mumbai - 400057, Maharashtra, India · Union Bank of India, Juhutura Road |
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Facilities : |
Cash Credit: 162.000 Millions (From Punjab National Bank) PC: Rs. 47.000 Millions (From Punjab National Bank) Post Shipment: Rs.151.000 Millions (From Punjab National Bank) Cash Credit: Rs. 148.000 Millions (From Union Bank of India) PC: Rs. 43.000 Millions (From Union Bank of India) Post Shipment: Rs. 119.000 Millions (From Union Bank of India)
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Banking
Relations : |
-- |
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Financial institution: |
PNB Investment Services Limited, 10, Rakesh Deep Building, Yusuf Sarai Commercial Complex, Gulmohar Enclave, New Delhi - 110049, Delhi, India |
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Auditors : |
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Name : |
Singrodia Goyal and Company Chartered Accountants |
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Address : |
4A, Kaledonia-HDIL, 2nd Floor, Sahar Road, Near Andheri
Station, Andheri (East), Mumbai – 400069, Maharashtra, India |
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Income-tax
PAN of auditor or auditor's firm : |
AAAFS7106D |
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Related Parties : |
·
Promart Retail India Private Limited · Max Apex Limited · VEMB Retail India Private Limited · Tanaya Enterprises Private Limited ·
Vaishali Sarees Emporium ·
Taneja Enterprises Private Limited |
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8000000 |
Equity Shares |
Rs.10/- each |
Rs. 80.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4882500 |
Equity Shares |
Rs.10/- each |
Rs. 48.825
Millions |
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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 |
48.825 |
28.185 |
14.800 |
|
(b) Reserves & Surplus |
272.245 |
66.312 |
23.515 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
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|
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(2)
Share Application money pending allotment |
0.000 |
0.000 |
8.800 |
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Total
Shareholders’ Funds (1) + (2) |
321.070 |
94.497 |
47.115 |
|
|
|
|
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(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
7.685 |
20.084 |
16.782 |
|
(b) Deferred tax liabilities (Net) |
2.456 |
2.073 |
2.056 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.570 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
10.711 |
22.157 |
18.838 |
|
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|
|
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(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
566.078 |
117.312 |
78.577 |
|
(b) Trade
payables |
77.886 |
97.503 |
13.241 |
|
(c) Other
current liabilities |
54.443 |
21.557 |
14.575 |
|
(d) Short-term
provisions |
43.455 |
7.053 |
2.393 |
|
Total Current
Liabilities (4) |
741.862 |
243.425 |
108.786 |
|
|
|
|
|
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TOTAL |
1073.643 |
360.079 |
174.739 |
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
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|
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(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
54.729 |
31.960 |
33.720 |
|
(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 |
2.187 |
0.202 |
1.345 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
13.466 |
5.803 |
3.779 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
70.382 |
37.965 |
38.844 |
|
|
|
|
|
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(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
194.600 |
100.585 |
98.685 |
|
(c) Trade
receivables |
542.122 |
191.111 |
31.972 |
|
(d) Cash
and cash equivalents |
50.785 |
0.972 |
1.732 |
|
(e)
Short-term loans and advances |
215.754 |
29.446 |
3.097 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.409 |
|
Total
Current Assets |
1003.261 |
322.114 |
135.895 |
|
|
|
|
|
|
TOTAL |
1073.643 |
360.079 |
174.739 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
3566.785 |
884.946 |
401.457 |
|
|
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Other Income |
NA |
0.714 |
0.411 |
|
|
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TOTAL |
NA |
885.660 |
401.868 |
|
|
|
|
|
|
|
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Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of raw materials consumed/ goods sold
|
|
133.271 |
64.548 |
|
|
|
Purchases of Stock in Trade |
|
623.856 |
305.734 |
|
|
|
Changes in Inventories of Finished Goods and
stock in Trade |
|
11.808 |
(40.468) |
|
|
|
Employee Benefit Expenses |
|
14.578 |
13.466 |
|
|
|
Other Expenses |
|
48.844 |
35.831 |
|
|
|
TOTAL |
NA |
832.357 |
379.111 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
|
53.303 |
22.757 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
19.342 |
10.035 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
134.350 |
33.961 |
12.722 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
3.185 |
2.398 |
1.597 |
|
|
|
|
|
|
|
|
|
|
PRIOR PERIOD
EXPENSES |
0.353 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
130.812 |
31.563 |
11.125 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
48.198 |
10.183 |
3.716 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
82.614 |
21.380 |
7.409 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
NA |
13.127 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
NA |
20.536 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
524.573 |
149.405 |
114.321 |
|
|
TOTAL EARNINGS |
524.573 |
149.405 |
114.321 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Finished Goods |
NA |
43.802 |
7.434 |
|
|
TOTAL IMPORTS |
NA |
43.802 |
7.434 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
- Basic |
29.19 |
13.63 |
5.54 |
|
|
|
- Diluted |
29.19 |
13.63 |
5.54 |
|
|
Particulars |
31.03.2014 |
|
|
|
|
Sales Turnover (Approximately) |
4316.200 |
|
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|
The above information has been parted by Mr. Gopal Singhania (Account
Manager)
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PAT/Sales) |
(%) |
3.77 |
2.42 |
1.85 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
NA
|
6.02 |
5.67 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.21 |
8.77 |
6.42 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.41 |
0.33 |
0.24 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.79 |
1.45 |
2.02 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.35 |
1.32 |
1.25 |
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 |
14.800 |
28.185 |
48.825 |
|
Reserves & Surplus |
23.515 |
66.312 |
272.245 |
|
Net
worth |
38.315 |
94.497 |
321.070 |
|
|
|
|
|
|
long-term borrowings |
16.782 |
20.084 |
7.685 |
|
Short term borrowings |
78.577 |
117.312 |
566.078 |
|
Total
borrowings |
95.359 |
137.396 |
573.763 |
|
Debt/Equity
ratio |
2.489 |
1.454 |
1.787 |
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 |
401.457 |
884.946 |
3566.785 |
|
|
|
120.434 |
303.051 |
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 |
401.457 |
884.946 |
3566.785 |
|
Profit |
7.409 |
21.380 |
134.350 |
|
|
1.85% |
2.42% |
3.77% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBTS
|
Particulars |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
|
|
|
|
|
|
Current maturities of long-term debt |
4.997 |
10.841 |
7.718 |
|
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|
|
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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 |
Yes |
|
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 |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
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 |
No |
|
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 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10514553 |
01/08/2014 |
97,200,000.00 |
KOTAK MAHINDRA BANK LIMITED |
27BKC, C 27, G BLOCK, BANDRA KURLA COMPLEX, BANDRA (EAST), MUMBAI, MAHARASHTRA - 400051, INDIA |
C16186041 |
|
2 |
10448600 |
29/07/2013 |
50,000,000.00 |
PNB INVESTMENT SERVICES LIMITED |
10, RAKESH DEEP
BUILDING, YUSUF SARAI COMMERCIAL |
B84802651 |
|
3 |
10414875 |
07/06/2013 * |
650,000,000.00 |
PNB INVESTMENT SERVICES LIMITED |
10, RAKESH DEEP
BUILDING, YUSUF SARAI COMMERCIAL |
B78832060 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULARS |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Rupee term loans from banks |
0.000 |
3.829 |
|
Intercorporate borrowings |
5.755 |
0.659 |
|
|
|
|
|
SHORT TERM
BORROWINGS |
|
|
|
Intercorporate borrowings |
11.202 |
0.000 |
|
Total |
16.957 |
4.488 |
PERFORMANCE OVERVIEW
The company has continued expanding its operations. The operating revenue for the FY 2012-13 increased to Rs. 3566.785 millions from Rs. 884.946 millions in the previous year, registering growth of 303%. The profit after tax, grew to Rs. 82.614 millions from Rs. 21.381 millions in the previous year, increasing by 286%, in line with the revenue growth. The EPS for the year grew to Rs. 29.19 per share from Rs. 13.63 per share, as compared to the previous year.
FIXED ASSETS
· Property – Shop
· Plant and Machinery
· Furniture and Fixtures
· Office Equipments
· Computers
· Vehicles
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 records 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.61.88 |
|
|
1 |
Rs.96.90 |
|
Euro |
1 |
Rs.76.29 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
46 |
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.