MIRA INFORM REPORT
|
Report Date : |
12.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
EURO INDIA CYLINDERS LIMITED |
|
|
|
|
Registered
Office : |
B/301, Sun Vision Classic, F.P. No. 14, |
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Country : |
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|
Financials (as
on) : |
31.03.2013 |
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|
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Date of
Incorporation : |
14.01.2008 |
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|
Com. Reg. No.: |
11-177798 |
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|
Capital
Investment / Paid-up Capital : |
Rs. 12.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28121MH2008PLC177798 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUME07182A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCE8956F |
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|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of High Pressure Seamless CNG Cylinders. |
|
|
|
|
No. of Employees
: |
85 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (17) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Slow |
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Litigation : |
Not Available |
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Comments : |
Subject is an established company having a moderate track record. As per Registrar of companies the date of Balance sheet i.e.
Financials filed is shown as 31st March, 2014 but the documents related
to the financials for the year 2014 are not available from any sources. As per available financial of 2013, the company has incurred a huge
accumulated loss with has eroded the Net worth of the company. However, business is active. Payment terms are slow. The company can be considered for business dealings on safe and
secured 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
NOT AVAILABLE
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. Bhairavi |
|
Designation : |
Account Executive |
|
Contact No.: |
91-22-26182582 |
|
Date : |
11.12.2014 |
LOCATIONS
|
Registered/ Corporate Office : |
B/301, Sun Vision Classic, F.P. No. 14, Hanuman Road, Vile Parle
(East), Mumbai – 400057, Maharashtra, India |
|
Tel. No. : |
91-22-26182582/ 71706070 |
|
Mobile No. : |
91- |
|
Fax No. : |
91-22-71706080 |
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E-Mail : |
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|
Website : |
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|
Factory : |
Plot No. 588-617, Near Area, Kandla Special Economic Zone, Gandhidham,
Kutch – 370230, Gujarat, India |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Dhanji Avchar Gala |
|
Designation : |
Director |
|
Address : |
A/2-3, Sanskar Apartments, Juhu Church Road, Mumbai – 400049, Maharashtra, India |
|
Date of Birth/Age : |
11.05.1956 |
|
Date of Appointment : |
14.01.2008 |
|
DIN No. : |
00206710 |
|
|
|
|
Name : |
Mr. Pinank Nenshi Shah |
|
Designation : |
Director |
|
Address : |
202, Asha Niketan, Baptista Road, Vile Parle (West), Mumbai – 400056, Maharashtra, India |
|
Date of Birth/Age : |
16.12.1987 |
|
Date of Appointment : |
10.08.2008 |
|
DIN No. : |
01767645 |
|
|
|
|
Name : |
Mr. Pravin Shambhulal Nandu |
|
Designation : |
Director |
|
Address : |
Devraj Niwas, 3rd Floor, Santacruz (West), Mumbai – 400054, Maharashtra, India |
|
Date of Birth/Age : |
10.10.1969 |
|
Date of Appointment : |
14.01.2008 |
|
DIN No. : |
01950047 |
KEY EXECUTIVES
|
Name : |
Mr. Bhairavi |
|
Designation : |
Account Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
|
Nenshi L Shah |
70000 |
|
Dhanji A Gala |
182500 |
|
Pravin S Nandu |
240000 |
|
Shantilal Ladhabhai Shah |
5000 |
|
Manilal R Nandu |
60000 |
|
Tanmay D Gala |
5000 |
|
Shah Lalji Khirabhai |
5000 |
|
Pinank N. Shah |
10000 |
|
Gunvanti N. Shah |
90000 |
|
Daksha Shah |
90000 |
|
Disti Multimedia and Communications Private Limited, India |
90000 |
|
Sonal Shah |
90000 |
|
Forum Shah |
90000 |
|
Tanmay Gala |
172500 |
|
Total |
1200000 |
As on 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
7.50 |
|
Directors or relatives of Directors |
92.50 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of High Pressure Seamless CNG Cylinders. |
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|
|
Exports : |
|
|
Products : |
Finished Goods |
|
Countries : |
· US · Egypt |
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Imports : |
|
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Products : |
Raw Material |
|
Countries : |
China |
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Terms : |
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Selling : |
Cash, Cheque and Credit |
|
|
|
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Purchasing : |
Cash, Cheque and Credit |
PRODUCTION STATUS:
NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Others |
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No. of Employees : |
85 (Approximately) |
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Bankers : |
·
The Cosmos Co-Operative Bank Limited, Pratik
Avenue, 1st Floor, Nehru Road, Vile Parle (East), Mumbai - 400057,
Maharashtra, India |
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Facilities : |
NOTE: 1. As on 30th January, 2013 the lending bank issued notice to the company under section 13(2) “The Securitisation and Reconstruction of Financial Assets an Enforcement of Security Interest Act, 2002” for the payment of outstanding loan amount along with the Interest within 60 days of notice, However the company have not paid the said dues due to lack of funds. As on 31st March, 2013 the amount of default was Rs. 946.931 Millions. The said amount includes outstanding secured term loan, short term credits and interest outstanding thereon. 2. The Revised Schedule VI lays down criteria for classification of liability as current of liability which interalia includes “the liability for which company does not have an unconditional right to defer its settlement for at least twelve months after the reporting date”. Considering the aforesaid criteria and the notice (Referred in Note: 1 above) issued by the lendor Bank under the provisions of “The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002”, the entire Secured loan has been classified as “Current Liability” under the head “Current Maturities of long term debt”. |
|
Auditors : |
|
|
Name : |
Ghalla and Bhansali Chartered Accountants |
|
Address : |
Devansh, 2nd Floor, 133, D.S.P.Road, Near Ranjit Studios, Dadar (East), Mumbai – 400014, Maharashtra, India |
|
Tel. No. : |
91-22-24147000 |
|
Fax No. : |
91-22-24144900 |
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E-Mail : |
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|
Income-tax
PAN of auditor or auditor's firm : |
AACFG6361J |
|
|
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Associates/Subsidiaries : |
Euro Ceramics Limited |
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,200,000 |
Equity Shares |
Rs.10/- each |
Rs. 12.000 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 |
12.000 |
12.000 |
12.000 |
|
(b) Reserves & Surplus |
(532.842) |
(294.859) |
(70.709) |
|
(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) |
(520.842) |
(282.859) |
(58.709) |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
38.000 |
612.935 |
693.114 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
17.505 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.642 |
0.450 |
0.000 |
|
Total Non-current
Liabilities (3) |
38.642 |
613.385 |
710.619 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
426.656 |
437.747 |
253.211 |
|
(b) Trade
payables |
1.378 |
2.248 |
0.000 |
|
(c) Other
current liabilities |
809.669 |
77.508 |
28.620 |
|
(d) Short-term
provisions |
1.558 |
2.020 |
2.372 |
|
Total Current
Liabilities (4) |
1239.261 |
519.523 |
284.203 |
|
|
|
|
|
|
TOTAL |
757.061 |
850.049 |
936.113 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
447.913 |
514.145 |
572.294 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
179.340 |
160.378 |
139.333 |
|
(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 |
22.821 |
7.112 |
11.620 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
650.074 |
681.635 |
723.247 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
81.001 |
150.656 |
190.822 |
|
(c) Trade
receivables |
15.977 |
8.877 |
0.000 |
|
(d) Cash
and cash equivalents |
2.689 |
6.990 |
20.070 |
|
(e)
Short-term loans and advances |
6.600 |
1.326 |
0.793 |
|
(f) Other
current assets |
0.720 |
0.565 |
1.181 |
|
Total
Current Assets |
106.987 |
168.414 |
212.866 |
|
|
|
|
|
|
TOTAL |
757.061 |
850.049 |
936.113 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
130.336 |
100.742 |
0.771 |
|
|
|
Other Income |
3.284 |
0.568 |
2.297 |
|
|
|
TOTAL (A) |
133.620 |
101.310 |
3.068 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
73.840 |
79.145 |
39.192 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
67.215 |
-22.032 |
(106.178) |
|
|
|
Employees benefits expense |
16.685 |
16.920 |
11.036 |
|
|
|
Other expenses |
51.173 |
67.756 |
30.999 |
|
|
|
Prior Period Income/ (Expense) |
(0.071) |
0.000 |
0.000 |
|
|
|
TOTAL (B) |
208.842 |
141.789 |
(24.951) |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
(75.222) |
(40.479) |
28.019 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
94.886 |
126.170 |
43.990 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(170.108) |
(166.649) |
(15.971) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
67.871 |
75.004 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
(237.979) |
(241.653) |
(15.971) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.004 |
(17.503) |
16.443 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
(237.983) |
(224.150) |
(32.414) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of Goods – FOB Basis |
55.889 |
24.463 |
0.000 |
|
|
TOTAL EARNINGS |
55.889 |
24.463 |
0.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Material |
67.392 |
27.149 |
95.634 |
|
|
|
Capital Goods |
0.000 |
0.000 |
8.450 |
|
|
TOTAL IMPORTS |
67.392 |
27.149 |
104.084 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
|
|
|
|
|
|
Basic
|
(198.32) |
(186.79) |
(27.01) |
|
|
|
Diluted |
(47.60) |
(44.83) |
(13.82) |
|
|
Particulars |
31.03.2014 |
|
|
|
|
Sales Turnover (Approximately) |
230.000 |
|
|
|
The above information has been parted by Mr. Bhairavi (Account
Executive).
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PAT/Sales) |
(%) |
(182.59) |
(222.50) |
(4204.15) |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
(57.71) |
(40.18) |
3634.11 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(41.19) |
(35.04) |
(2.00) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.46 |
0.85 |
0.27 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
(0.89) |
(3.71) |
(16.12) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.09 |
0.32 |
0.75 |
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 |
12.000 |
12.000 |
12.000 |
|
Reserves & Surplus |
(70.709) |
(294.859) |
(532.842) |
|
Net
worth |
(58.709) |
(282.859) |
(520.842) |
|
|
|
|
|
|
long-term borrowings |
693.114 |
612.935 |
38.000 |
|
Short term borrowings |
253.211 |
437.747 |
426.656 |
|
Total
borrowings |
946.325 |
1050.682 |
464.656 |
|
Debt/Equity
ratio |
(16.119) |
(3.715) |
(0.892) |
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 |
0.771 |
100.742 |
130.336 |
|
|
|
12966.407 |
29.376 |
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 |
0.771 |
100.742 |
130.336 |
|
Profit |
(32.414) |
(224.150) |
(237.983) |
|
|
(4204.15%) |
(222.50%) |
(182.59%) |
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 Debts |
779.758 |
38.395 |
0.423 |
|
|
|
|
|
|
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 |
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 |
Yes |
|
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 |
10355127 |
28/03/2013 * |
100,000,000.00 |
PEGASUS GROUP NINETEEN TRUST II - PEGASUS ASSETS R |
55-56, 5TH FLOOR, FREE PRESS HOUSE, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
B75499558 |
|
2 |
10152796 |
28/03/2013 * |
840,000,000.00 |
PEGASUS GROUP NINETEEN TRUST II - PEGASUS ASSETS R |
55-56, 5TH FLOOR, FREE PRESS HOUSE, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
B75333732 |
|
3 |
10152797 |
30/03/2009 |
470,000.00 |
THE COSMOS CO-OPERATIVE BANK LIMITED |
PRATIK AVENUR, 1ST FLOOR, NEHRU ROAD, VILE PARLE (EAST) , MUMBAI, MAHARASHTRA - 400057, INDIA |
A59962852 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Debentures/ Bonds |
38.000 |
38.000 |
|
Less: Current Portion |
0.000 |
(38.000) |
|
|
|
|
|
SHORT TERM
BORROWINGS |
|
|
|
From Others |
157.600 |
242.600 |
|
Loans and Advances from Related Parties |
101.848 |
103.077 |
|
Total |
297.448 |
345.677 |
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
|
|
|
|
Sales Tax |
1.910 |
1.910 |
|
|
|
|
FIXED ASSETS
· Land
· Building
· Plant and Machinery
· Furniture and Fixture
· Vehicle
· Office Equipment
· Others
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.62.21 |
|
|
1 |
Rs.97.80 |
|
Euro |
1 |
Rs.77.48 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
17 |
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.