MIRA INFORM REPORT
|
Report Date : |
26.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
NILONS ENTERPRISES PRIVATE LIMITED |
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Formerly Known
As : |
NILON’S FOODS PRIVATE LIMITED |
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Registered
Office : |
S.No. 131/1a/5, Sunderban Complex, 1st and 2nd Floor, Next to |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
07.01.1977 |
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Com. Reg. No.: |
11-139541 |
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Capital
Investment / Paid-up Capital : |
Rs. 12.000 millions |
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CIN No.: [Company Identification
No.] |
U74999PN1977PTC139541 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
NSKN0015OD |
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PAN No.: [Permanent Account No.] |
AABCN8601N |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Nilons Pickle, Achar Masala, Papads, Vermicelli,
Tooty Fruty, Chopsticks, Jams, Sauce, Tamato Ketchup etc. |
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (31) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 210000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having moderate track. Management has reported consecutive losses from its operations during
FY14. However, trade relations seem to be fair. Business is active. Payment
terms are reported as slow but correct. The company can be considered for business dealings with some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long terms rating “BBB”(Suspended) |
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Rating Explanation |
Moderate degree of safety and moderate credit risk. |
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Date |
February 11, 2014 |
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Rating Agency Name |
CRISIL |
|
Rating |
Short term rating “A3+” (Suspended) |
|
Rating Explanation |
Moderate degree of safety higher credit risk. |
|
Date |
February 11, 2014 |
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. Sandeep Panchal |
|
Designation : |
Marketing Manager |
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Contact No.: |
91-22-40148256 |
|
Date : |
13.12.2014 |
LOCATIONS
|
Registered Office : |
S.No. 131/1a/5, Sunderban Complex, 1st and 2nd Floor, Next to Ganesh Dutta Temple, Near
Balewadi Phata, Pune-411045, Maharashtra, India |
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Tel. No.: |
91-2066807511 |
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Fax No.: |
91-20-66802530 |
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E-Mail : |
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Corporate Office : |
Nilons House, P.O. Box No. 119, |
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Factory 1: |
Gat No. 85, Musali Taluka, Dharangaon, District Jalgaon, |
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Factory 2: |
Gate No. 175, B/2, Ultrank, Taluka Jalgaon-425117, |
DIRECTORS
As on 31.03.2014
|
Name : |
Mr. Rajheev Shankarlal Agrawal |
|
Designation : |
Director |
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Address : |
Bunglow No. 9, |
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Date of Birth/Age : |
16.10.1963 |
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Date of Appointment : |
20.02.2008 |
|
DIN No.: |
00284183 |
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Name : |
Mr. Deepak Sureshchand Sanghavi |
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Designation : |
Managing director |
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Address : |
Row House No. 19, Vascom Paradase, Opposite BSNL Exchange Baner,
Pune-411045, |
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Date of Birth/Age : |
22.08.1977 |
|
Date of Appointment : |
03.03.1998 |
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DIN No.: |
00274804 |
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Name : |
Mr. Vijay Sureka |
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Designation : |
Nominee director |
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Address : |
B-201, |
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Date of Birth/Age : |
23.10.1976 |
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Date of Appointment : |
26.06.2009 |
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DIN No.: |
02700656 |
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Name : |
Mr. Kirit Kumar Pathak |
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Designation : |
Nominee director |
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Address : |
Orchard House, |
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Date of Birth/Age : |
12.09.1952 |
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Date of Appointment : |
28.01.2009 |
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DIN No.: |
01849295 |
KEY EXECUTIVES
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Name : |
Mr. Dinesh Shivnarayan Birla |
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Designation : |
Company Secretary |
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Address : |
Flat No. 301, Build C Sai Heritage Pimple Saudagar, Pune-411027, |
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Date of Birth/Age : |
01.07.1975 |
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Date of Appointment : |
28.01.2009 |
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PAN No.: |
AIHPB0105G |
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|
Name : |
Mr. Sandeep Panchal |
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Designation : |
Marketing Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2014
|
Names of Shareholders |
No. of Shares |
Percentage |
|
Mr. Deepak Sanghavi |
4446 |
37.05 |
|
Shankuntalabai Sanghavi |
714 |
5.95 |
|
Rajheev Agarwal |
144 |
1.20 |
|
Kirti Pathak (Representing Deepak and Company) |
3600 |
30.00 |
|
Trewliard Limited, |
2760 |
23.00 |
|
Minakshi Agarwal |
336 |
2.80 |
|
Total |
12000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
23.00 |
|
Directors or relatives of Directors |
47.00 |
|
Other top fifty shareholders |
33.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Nilons Pickle, Achar Masala, Papads,
Vermicelli, Tooty Fruty, Chopsticks, Jams, Sauce, Tamato Ketchup etc. |
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Products : |
Not Available |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Terms : |
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Selling : |
Cash, Advance Payment, Cheque and Credit |
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Purchasing : |
Cash, Advance Payment, Cheque and Credit |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Wholesalers, Retailers and End Users
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No. of Employees : |
Not Divulged |
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Bankers : |
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Facilities : |
(Rs.
In Millions)
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Auditors : |
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Name : |
Ratan Chandak and Company Chartered Accountants |
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Address : |
9-10, 1st Floor, Chhatrapati Shivaji Maharaj Stadium
Complex, Jalgaon – 425002, |
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PAN No.: |
AABFR5803R |
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Memberships : |
Not Divulged |
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Collaborators : |
Not Divulged |
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Associates/Subsidiaries : |
CIN No.: U15136PN2005PTC151843
CIN No.: U15136PN2005PTC149390 |
CAPITAL STRUCTURE
After As on
31.03.2014
Authorised Capital : Rs.20.000 millions
Issued, Subscribed & Paid-up Capital : Rs.10.020
millions
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
15000 |
Equity Shares |
Rs.1000/- each |
Rs.15.000 millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
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|
|
|
|
12000 |
Equity Shares |
Rs.1000/-
each |
Rs.12.000
millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
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|
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|
(1)Shareholders' Funds |
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(a) Share Capital |
12.000 |
12.000 |
12.000 |
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(b) Reserves & Surplus |
59.535 |
121.506 |
610.465 |
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(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
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(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
71.535 |
133.506 |
622.465 |
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(3)
Non-Current Liabilities |
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|
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|
(a) long-term borrowings |
549.250 |
361.452 |
285.103 |
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(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
41.662 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
19.165 |
|
(d) long-term
provisions |
1.494 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
550.744 |
361.452 |
345.930 |
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(4)
Current Liabilities |
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(a) Short
term borrowings |
525.446 |
776.583 |
821.873 |
|
(b) Trade
payables |
183.324 |
186.219 |
75.461 |
|
(c) Other
current liabilities |
157.030 |
193.147 |
68.762 |
|
(d) Short-term
provisions |
3.197 |
5.989 |
1.901 |
|
Total Current
Liabilities (4) |
868.997 |
1161.938 |
967.997 |
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|
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TOTAL |
1491.276 |
1656.896 |
1936.392 |
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II.
ASSETS |
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(1)
Non-current assets |
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(a) Fixed
Assets |
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|
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|
(i)
Tangible assets |
581.900 |
607.708 |
546.026 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
41.945 |
20.736 |
120.391 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.200 |
0.200 |
0.210 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
53.420 |
98.294 |
86.587 |
|
(e) Other
Non-current assets |
1.271 |
11.697 |
0.000 |
|
Total Non-Current
Assets |
678.736 |
738.635 |
753.214 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
479.624 |
615.914 |
979.094 |
|
(c) Trade
receivables |
252.018 |
233.956 |
60.635 |
|
(d) Cash
and cash equivalents |
16.713 |
6.874 |
27.630 |
|
(e)
Short-term loans and advances |
54.158 |
39.018 |
115.819 |
|
(f) Other
current assets |
10.027 |
22.499 |
0.000 |
|
Total
Current Assets |
812.540 |
918.261 |
1183.178 |
|
|
|
|
|
|
TOTAL |
1491.276 |
1656.896 |
1936.392 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
TOTAL INCOME |
|
|
|
|
|
|
|
TOTAL (A) |
1765.882 |
1753.329 |
1540.211 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
1632.076 |
1991.016 |
1358.180 |
|
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|
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
133.806 |
-237.687 |
182.031 |
|
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|
Less |
FINANCIAL
EXPENSES (D) |
164.184 |
162.563 |
130.667 |
|
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|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(30.378) |
(400.250) |
51.364 |
|
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|
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|
|
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|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
31.574 |
130.469 |
37.794 |
|
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|
|
PROFIT/LOSS
BEFORE TAX (E-F) (G) |
(61.952) |
(530.719) |
13.570 |
|
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|
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|
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|
Less |
TAX (H) |
0.018 |
(41.760) |
17.444 |
|
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|
PROFIT/LOSS
AFTER TAX (G-H) (I) |
(61.970) |
(488.959) |
(3.874) |
|
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|
Earnings Per
Share (Rs.) |
(5164.16) |
--- |
--- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(3.51) |
(27.89) |
(0.25) |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
7.58 |
(13.56) |
11.82 |
|
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|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(4.28) |
(32.44) |
0.75 |
|
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|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.87) |
(3.98) |
0.02 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
15.02 |
8.52 |
1.78 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.94 |
0.79 |
1.22 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
12.000 |
12.000 |
12.000 |
|
Reserves & Surplus |
610.465 |
121.506 |
59.535 |
|
Net
worth |
622.465 |
133.506 |
71.535 |
|
|
|
|
|
|
long-term borrowings |
285.103 |
361.452 |
549.250 |
|
Short term borrowings |
821.873 |
776.583 |
525.446 |
|
Total
borrowings |
1106.976 |
1138.035 |
1074.696 |
|
Debt/Equity
ratio |
1.778 |
8.524 |
15.023 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
1540.211 |
1753.329 |
1765.882 |
|
|
|
13.837 |
0.716 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
1540.211 |
1753.329 |
1765.882 |
|
Profit |
(3.874) |
(488.959) |
(61.970) |
|
|
(0.25%) |
(27.89%) |
(3.51%) |
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 |
No |
|
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 |
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 |
UNSECURED LOAN
(Rs.
In Millions)
|
UNSECURED LOAN |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
Short Term
Borrowing |
|
|
|
Other loans and advances |
0.833 |
7.495 |
|
Loans and advances from others |
0.000 |
15.032 |
|
Total |
0.833 |
22.527 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10314351 |
10/02/2014 * |
1,035,000,000.00 |
SBICAP TRUSTEE COMPANY LIMITED |
202, MAKER TOWER, 'E', CUFFE PARADE,, COLABA,, MUMBAI, Maharashtra -
400005, INDIA |
C02575686 |
|
2 |
10236024 |
22/07/2010 |
757,000,000.00 |
SBICAP TRUSTEE COMPANY LIMITED |
202, MAKER TOWER, 'E', CUFFE PARADE,, COLABA,, MUMBAI, Maharashtra -
400005, INDIA |
A91947820 |
* Date of charge modification
FIXED ASSETS
·
Land
·
·
·
Plant and Machinery
·
Storage Racks and Bags
·
Furniture and Fixture
·
Office Equipments
·
Computers
·
Vehicles
NEWS
NILON’S LOOKS TO SELL UP TO 49%, NRI INVESTOR KIRIT
PATHAK MAY GET EXIT OPTION
Pune-based packaged food
and pickle-maker Nilon's Enterprises is looking to sell up to 49% to a
strategic investor, three people with direct knowledge of the plans said. The
sale will give its non-resident Indian investor an exit option, these people
said. The company, valued at Rs 4500.000 to 5000.000 millions, has appointed
investment bank Avendus Capital to
scout for investors.
Kirit Pathak, a London-based entrepreneur, had invested Rs 750.000 millions in the company in 2008. He holds 26-50% in various group entities of Nilon's Enterprises.
"The promoters are looking at a strategic investor who can buy out the existing investor and can take the company to the next level of growth," said an investment banker privy to the development.
Founded in 1962, Nilon's sells Indian spices, vermicelli, ketchup, sauces, chutney, instant mixes and macaroni. Apart from India, Nilon's Enterprises sells its products in countries such as France, Japan, Dubai, Singapore, Malaysia, South Africa, Australia and New Zealand.
Dipak Sanghavi, managing director of Nilon's, confirmed the plan to induct a strategic investor without giving any further details. Pathak could not be reached for comment.
Investors, both financial and strategic, have been looking at entering the Indian packaged food business. Last week, ET reported the stake-sale plans of Bikaji Foods, a snacks and packaged food maker.
"India remains a very strong consumption story (despite) the recent slowdown," said Vikram Hosangady, head, transactions and restructuring practice, and national leader for private equity at KPMG India.
"The rural market continues to grow and with the good monsoons, will be a driver for most food and FMCG (fast-moving consumer goods) companies," Hosangady said.
According to a report by Research and Markets, the Indian packaged food industry has grown at 15.6% every year since 2007 and this is expected to accelerate in the next five years until 2018.
BANYANTREE
INVESTS IN PACKAGED FOOD FIRM NILON’S
Pune-based producer of packaged Indian ethnic foods Nilon’s Enterprises Private Limited has raised an undisclosed amount private equity firm from BanyanTree Capital, as per a press statement.
Nilon’s is a 50-year-old brand of Indian pickles, spices, instant mixes and cooking pastes, sauces and vermicelli/pasta. The firm has a pan-India presence that spans over 2,000 cities. It is available at 400,000 outlets and reaches over 8 million homes.
It manufactures all its products in-house at its five facilities in Maharashtra and Assam.
The company is led by second-generation entrepreneur Deepak Sanghavi. He was joined by Rajheev Agrawal in 2004, and they together were instrumental in the growth of the company.
In 2008, Nilon’s had received an investment from the London-based Kirit Pathak who developed the eponymous brand Patak’s in the UK involved in Indian curry pastes and spices. Pathak sold the Patak’s business to Associated British Foods in 2007 and became a strategic investor in the foods space.
BanyanTree Capital has invested out of its second fund BanyanTree Growth Capital – II. This marks BanyanTree’s fifth investment from this fund and the third investment in the current year.
Avendus Capital acted as the exclusive financial advisor to the transaction.
The PE firm invested in education services firm MT Educare and renewable energy firm Atria Brindavan Power Ltd from this fund over the recent past.
BanyanTree has completely invested the first fund and now all new investments will be made from the second fund.
In other deals in the packaged food sector Delhi-based Veeba Food Services Private Limited, founded by former promoters of Fun Foods Services Private Limited, raised Rs 100.000 millions in a Series B round of funding led by the existing investor DSG Consumer Partners.
MTR founding family’s processed food company Maiyas Beverages and Foods Private Limited raised Rs 1000.000 millions crore ($16.6 million) from Ascent Capital.
WestBridge Capital also picked up nearly 25 per cent stake in DFM Foods, the maker of salted snacks under the 'Crax' brand from its promoters for Rs 645.000 millions or a little over $10 million.
Last year, India Value Fund invested $40 million in Kochi-based VKL Seasoning, which makes food ingredients and flavouring solutions.
In the same space, another firm Cremica Foods has attracted interest from PE players and is reportedly being wooed by large investors like Kedaara Capital and The Carlyle Group.
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.63.46 |
|
|
1 |
Rs.98.51 |
|
Euro |
1 |
Rs.77.30 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
JYTK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
31 |
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.