MIRA INFORM REPORT

 

 

Report Date :

30.12.2014

 

IDENTIFICATION DETAILS

 

Name :

GRETA METAL PTE. LTD.

 

 

Formerly Known As :

ARDOUR WORLD (SINGAPORE) PTE. LTD.

 

 

Registered Office :

10, Anson Road, 27-11, International Plaza, 079903

 

 

Country :

Singapore

 

 

Financials (as on) :

31.03.201

 

 

Date of Incorporation :

24.02.2011

 

 

Com. Reg. No.:

201104593-M

 

 

Legal Form :

Private Limited

 

 

Line of Business :

Trading of metal, scraps and steel

 

 

No. of Employees :

04 [2014]

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

Payment Behaviour :

Slow but correct

Litigation :

Clear

 

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)

Singapore

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

SINGAPORE - ECONOMIC OVERVIEW

 

Singapore has a highly developed and successful free-market economy. It enjoys a remarkably open and corruption-free environment, stable prices, and a per capita GDP higher than that of most developed countries. The economy depends heavily on exports, particularly in consumer electronics, information technology products, pharmaceuticals, and on a growing financial services sector. The economy contracted 0.6% in 2009 as a result of the global financial crisis, but rebounded 15.1% in 2010, on the strength of renewed exports, before slowing to in 2011-13, largely a result of soft demand for exports during the second European recession. Over the longer term, the government hopes to establish a new growth path that focuses on raising productivity. Singapore has attracted major investments in pharmaceuticals and medical technology production and will continue efforts to establish Singapore as Southeast Asia's financial and high-tech hub

 

Source : CIA

 

Company name and address

 

 

REGISTRATION NO.

:

201104593-M

COMPANY NAME

:

GRETA METAL PTE. LTD.

FORMER NAME

:

ARDOUR WORLD (SINGAPORE) PTE. LTD. (13/09/2011)

INCORPORATION DATE

:

24/02/2011

 

 

 

 

 

 

COMPANY STATUS

:

EXIST

LEGAL FORM

:

PRIVATE LIMITED

LISTED STATUS

:

NO

 

 

 

 

 

 

REGISTERED ADDRESS

:

10, ANSON ROAD, 27-11, INTERNATIONAL PLAZA, 079903, SINGAPORE.

BUSINESS ADDRESS

:

10 ANSON ROAD, # 27-11, INTERNATIONAL PLAZA, 079903, SINGAPORE.

TEL.NO.

:

65-62230152

FAX.NO.

:

65-62230243

CONTACT PERSON

:

NITESH CHAUDHARI ( DIRECTOR )

 

 

 

 

 

 

PRINCIPAL ACTIVITY

:

TRADING OF METAL, SCRAPS AND STEEL

 

 

 

ISSUED AND PAID UP CAPITAL

:

600,000.00 ORDINARY SHARE, OF A VALUE OF USD 600,000.00

 

 

 

SALES

:

USD 19,177,504 [2014]

NET WORTH

:

USD 1,091,803 [2014]

 

 

 

STAFF STRENGTH

:

4 [2014]

LITIGATION

:

CLEAR

FINANCIAL CONDITION

:

MODERATE

PAYMENT

:

SLOW BUT CORRECT

MANAGEMENT CAPABILITY

:

AVERAGE

 

 

 

COMMERCIAL RISK

:

LOW

CURRENCY EXPOSURE

:

MODERATE

GENERAL REPUTATION

:

SATISFACTORY

INDUSTRY OUTLOOK

:

AVERAGE GROWTH

 

 

HISTORY / BACKGROUND

 

The Subject is a private limited company and is allowed to have a minimum of one and a maximum of forty-nine shareholders. As a private limited company, the Subject must have at least two directors. A private limited company is a separate legal entity from its shareholders. As a separate legal entity, the Subject is capable of owning assets, entering into contracts, sue or be sued by other companies. The liabilities of the shareholders are to the extent of the equity they have taken up and the creditors cannot claim on shareholders' personal assets even if the Subject is insolvent. The Subject is governed by the Companies Act and the company must file its annual returns, together with its financial statements with the Registrar of Companies.

The Subject is principally engaged in the (as a / as an) trading of metal, scraps and steel.

 

Share Capital History

Date

Issue & Paid Up Capital

29/12/2014

USD 600,000.00

 

The major shareholder(s) of the Subject are shown as follows :

 

Name

Address

IC/PP/Loc No

Shareholding

(%)

NITESH CHAUDHARI +

89, YISHUN STREET, 81, 05-12, ORCHID PARK CONDOMINIUM, 768449, SINGAPORE.

G5159887W

550,000.00

91.67

NAROTTAMKA TRADE & VYAPAAR PRIVATE LIMITED

4, BBD BAG, 100, STEPHEN HOUSE, KOLKATTA, 700001 WEST BENGAL, INDIA.

T10UF0216

50,000.00

8.33

 

 

 

---------------

------

 

 

 

600,000.00

100.00

 

 

 

============

=====

+ Also Director



DIRECTORS


DIRECTOR 1

 

Name Of Subject

:

SAURABH MATHUR

Address

:

89, YISHUN STREET, 81, 05-12, ORCHID PARK CONDOMINIUM, 768449, SINGAPORE.

IC / PP No

:

G5088859U

 

 

 

 

 

 

 

 

 

Nationality

:

INDIAN

Date of Appointment

:

23/08/2011

 

 

 

 

 

 

 

 

 

 

 

 

 

DIRECTOR 2

 

Name Of Subject

:

NITESH CHAUDHARI

Address

:

89, YISHUN STREET, 81, 05-12, ORCHID PARK CONDOMINIUM, 768449, SINGAPORE.

IC / PP No

:

G5159887W

 

 

 

 

 

 

 

 

 

Nationality

:

INDIAN

Date of Appointment

:

23/08/2011

 

 

 

 

 

 

 

 

 

 

 

 



MANAGEMENT

 

 

 

1)

Name of Subject

:

NITESH CHAUDHARI

 

Position

:

DIRECTOR

 

 

 

 

 

 

 

AUDITOR

 

Auditor

:

J WONG & ASSOCIATES PAC

Auditor' Address

:

N/A

 

 

 

 

 

 

 

 

 

COMPANY SECRETARIES

 

1)

Company Secretary

:

SATHAPPAN SEETHA

 

IC / PP No

:

S7574066B

 

 

 

 

 

Address

:

513, ANG MO KIO AVENUE, 8, 05-2772, 560513, SINGAPORE.

 

 

 

 

 

 

 

 

 

 

 

BANKING


No Banker found in our databank.

ENCUMBRANCE (S)


No encumbrance was found in our databank at the time of investigation.

 

 

LITIGATION CHECK AGAINST SUBJECT


* A check has been conducted in our databank againt the Subject whether the subject has been involved in any litigation.

No legal action was found in our databank.

No winding up petition was found in our databank.

 

PAYMENT RECORD

 

 

 

SOURCES OF RAW MATERIALS:

Local

:

N/A

Overseas

:

N/A

 

 

 


The Subject refused to disclose its suppliers.

The Subject refused to provide any name of trade/service supplier and we are unable to conduct any trade enquiry. However, from financial historical data we conclude that :

OVERALL PAYMENT HABIT

Prompt 0-30 Days

[

 

]

 

Good 31-60 Days

[

 

]

 

Average 61-90 Days

[

X

]

 

Fair 91-120 Days

[

 

]

 

Poor >120 Days

[

 

]

 

 

 

 

 

 

 

 

CLIENTELE

 

Local

:

YES

Domestic Markets

:

SINGAPORE

Overseas

:

YES

 

 

 

Export Market

:

WORLDWIDE

Credit Term

:

N/A

 

 

 

 

 

 

Payment Mode

:

CHEQUES
TELEGRAPHIC TRANSFER (TT)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

OPERATIONS

 

Goods Traded

:

METAL, SCRAPS AND STEEL

 

 

 

 

 

Total Number of Employees:

YEAR

2014

 

GROUP

N/A

 

 

 

 

 

 

 

 

COMPANY

4

 

 

 

 

 

 

 

 

 

Branch

:

NO

 

Other Information:


The Subject is principally engaged in the (as a / as an) trading of metal, scraps and steel.

The Subject is a supplier of various Ferrous Scrap like HMS 1 & 2, Shredded Steel, Re-rollable, Coils.


CURRENT INVESTIGATION

 

Latest fresh investigations carried out on the Subject indicated that :

Telephone Number Provided By Client

:

N/A

Current Telephone Number

:

65-62230152

Match

:

N/A

 

 

 

Address Provided by Client

:

10 ANSON ROAD 27-11 INTERNATIONAL PLAZA SINGAPORE 079903

Current Address

:

10 ANSON ROAD, # 27-11, INTERNATIONAL PLAZA, 079903, SINGAPORE.

Match

:

YES

 

 

 

 

Other Investigations


we contacted one of the staff from the Subject and she provided some information.

 

FINANCIAL ANALYSIS

 

Profitability

 

 

 

 

 

 

Turnover

:

Increased

[

2012 - 2014

]

 

Profit/(Loss) Before Tax

:

Increased

[

2012 - 2014

]

 

Return on Shareholder Funds

:

Acceptable

[

25.26%

]

 

Return on Net Assets

:

Acceptable

[

12.01%

]

 

 

 

 

 

 

 

 

The Subject's turnover increased steadily as the demand for its products / services increased due to the goodwill built up over the years.The higher profit could be attributed to the increase in turnover. The Subject's management had generated acceptable return for its shareholders using its assets.

 

 

 

 

 

 

 

Working Capital Control

 

 

 

 

 

 

Stock Ratio

:

Nil

[

0 Days

]

 

Debtor Ratio

:

Unfavourable

[

75 Days

]

 

Creditors Ratio

:

Favourable

[

31 Days

]

 

 

 

 

 

 

 

 

As the Subject is a service oriented company, the Subject does not need to keep stocks. The high debtors' ratio could indicate that the Subject was weak in its credit control. However, the Subject could also giving longer credit periods to its customers in order to boost its sales or to capture / retain its market share. The Subject had a favourable creditors' ratio where the Subject could be taking advantage of the cash discounts and also wanting to maintain goodwill with its creditors.

 

 

 

 

 

 

 

Liquidity

 

 

 

 

 

 

Liquid Ratio

:

Favourable

[

1.31 Times

]

 

Current Ratio

:

Unfavourable

[

1.31 Times

]

 

 

 

 

 

 

 

 

A minimum liquid ratio of 1 should be maintained by the Subject in order to assure its creditors of its ability to meet short term obligations and the Subject was in a good liquidity position. Thus, we believe the Subject is able to meet all its short term obligations as and when they fall due.

 

 

 

 

 

 

 

Solvency

 

 

 

 

 

 

Interest Cover

:

Unfavourable

[

2.94 Times

]

 

Gearing Ratio

:

Unfavourable

[

2.17 Times

]

 

 

 

 

 

 

 

 

The Subject's interest cover was low. If its profits fall or when interest rate rises, it  may not be able to meet all its interest payment. The Subject was highly geared, thus it had a high financial risk. The Subject was dependent on loans to finance its business needs. In times of economic downturn and / or high interest rate, the Subject will become less profitable and competitive than other firms in the same industry, which are lowly geared. This is because the Subject has to service the interest and to repay the loan, which will erode part of its profits. The profits will fluctuate depending on the Subject's turnover and the interest it needs to pay.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Overall Assessment :

 

 

 

 

 

 

Generally, the Subject's performance has improved with higher turnover and profit. The Subject was in good liquidity position with its total current liabilities well covered by its total current assets. With its current net assets, the Subject should be able to repay its short term obligations. If there is a fall in the Subject's profit or any increase in interest rate, the Subject may not be able to generate sufficient cash-flow to service its interest. The Subject's gearing level was high and its going concern will be in doubt if there is no injection of additional shareholders' funds in times of economic downturn and / or high interest rates.

 

 

 

 

 

 

 

Overall financial condition of the Subject : FAIR

 

 

 

SINGAPORE ECONOMIC / INDUSTRY OUTLOOK

 

 

Major Economic Indicators :

2009

2010

2011

2012

2013

 

 

 

 

 

 

Population (Million)

4.98

5.08

5.18

5.31

5.40

Gross Domestic Products ( % )

(0.8)

14.5

4.9

1.3

3.7

Consumer Price Index

0.6

2.8

5.2

4.6

2.4

Total Imports (Million)

356,299.3

423,221.8

459,655.1

474,554.0

466,762.0

Total Exports (Million)

391,118.1

478,840.7

514,741.2

510,329.0

513,391.0

 

 

 

 

 

 

Unemployment Rate (%)

3.2

2.2

2.1

2.0

1.9

Tourist Arrival (Million)

9.68

11.64

13.17

14.49

15.46

Hotel Occupancy Rate (%)

75.8

85.6

86.5

86.4

86.3

Cellular Phone Subscriber (Million)

1.37

1.43

1.50

1.52

1.97

 

 

 

 

 

 

Registration of New Companies (No.)

26,414

29,798

32,317

31,892

37,288

Registration of New Companies (%)

4.3

12.8

8.5

(1.3)

9.8

Liquidation of Companies (No.)

22,393

15,126

19,005

17,218

17,369

Liquidation of Companies (%)

113.4

(32.5)

25.6

9.4

(5.3)

 

 

 

 

 

 

Registration of New Businesses (No.)

26,876

23,978

23,494

24,788

22,893

Registration of New Businesses (%)

8.15

(10.78)

2.02

5.51

1.70

Liquidation of Businesses (No.)

23,552

24,211

23,005

22,489

22,598

Liquidation of Businesses (%)

11.4

2.8

(5)

(2.2)

0.5

 

 

 

 

 

 

Bankruptcy Orders (No.)

2,058

1,537

1,527

1,748

1,992

Bankruptcy Orders (%)

(11.5)

(25.3)

(0.7)

14.5

14.0

Bankruptcy Discharges (No.)

3,056

2,252

1,391

1,881

2,584

Bankruptcy Discharges (%)

103.7

(26.3)

(38.2)

35.2

37.4

 

 

 

 

 

 

INDUSTRIES ( % of Growth ) :

 

 

 

 

 

Agriculture

 

 

 

 

 

Production of Principal Crops

3.25

(0.48)

4.25

3.64

-

Fish Supply & Wholesale

(1.93)

(10.5)

12.10

(0.5)

-

 

 

 

 

 

 

Manufacturing *

71.5

92.8

100.0

100.3

102.0

Food, Beverages & Tobacco

90.4

96.4

100.0

103.5

103.5

Textiles

145.9

122.1

100.0

104.0

87.1

Wearing Apparel

211.0

123.3

100.0

92.1

77.8

Leather Products & Footwear

79.5

81.8

100.0

98.6

109.8

Wood & Wood Products

101.4

104.0

100.0

95.5

107.4

Paper & Paper Products

95.4

106.1

100.0

97.4

103.2

Printing & Media

100.9

103.5

100.0

93.0

86.1

Crude Oil Refineries

96.4

95.6

100.0

99.4

93.5

Chemical & Chemical Products

80.3

97.6

100.0

100.5

104.1

Pharmaceutical Products

49.1

75.3

100.0

109.7

107.2

Rubber & Plastic Products

101.2

112.3

100.0

96.5

92.9

Non-metallic Mineral

91.9

92.5

100.0

98.2

97.6

Basic Metals

92.6

102.2

100.0

90.6

76.5

Fabricated Metal Products

90.8

103.6

100.0

104.3

105.1

Machinery & Equipment

57.3

78.5

100.0

112.9

114.5

Electrical Machinery

86.8

124.1

100.0

99.3

108.5

Electronic Components

85.2

113.6

100.0

90.6

94.3

Transport Equipment

96.0

94.0

100.0

106.3

107.5

 

 

 

 

 

 

Construction

(36.9)

14.20

20.50

28.70

-

Real Estate

1.4

21.3

25.4

31.9

-

 

 

 

 

 

 

Services

 

 

 

 

 

Electricity, Gas & Water

1.70

4.00

7.00

6.30

-

Transport, Storage & Communication

3.90

12.80

7.40

5.30

-

Finance & Insurance

(16.4)

(0.4)

8.90

0.50

-

Government Services

4.50

9.70

6.90

6.00

-

Education Services

0.10

(0.9)

(1.4)

0.30

-

 

 

 

 

 

 

* Based on Index of Industrial Production (2011 = 100)

 

 

 

 

 

 

 

INDUSTRY ANALYSIS

 

INDUSTRY :

TRADING

 

 

 

The wholesale and retail trade sectors have expanded by 2.0% in the third quarter of 2014, extending the 1.8 per cent growth in the previous quarter. In 2013, the wholesale and retail sector expanded by 5.0%, after declining by 1.4% the year before. Growth of the sector was driven by the wholesale trade segment.

 

The domestic wholesale trade index has increased by 3.2% in the fourth quarter of 2013, moderating from the 6.6% growth in the previous quarter. The slower growth was due to a decline in the sales of furniture and household equipment (-12%) and petroleum and petroleum products (-0.6%). For the full year, the domestic wholesale trade index grew by 5.2% reversing the 2.2% decline in 2012. On the other hand, the foreign wholesale trade index has increased by a slower pace of 5.6% in the fourth quarter, compared to the 7.7% expansion in the preceding quarter. The slowdown was due to a fall in the sales of telecommunication equipment and computer (-3.8%) and petroleum and petroleum products (-2.5%). For the full year, the growth of the foreign wholesale trade index moderated slightly to 8.6% from 9.1% in the previous year.

 

In the fourth quarter of 2013, retail sales volume fell by 6.2%, extending the 5.6% decline in the previous quarter. Excluding motor vehicles, retail sales volume increased by 0.4%, a slower pace of expansion as compared to the 1.6% gain in the preceding quarter. The sales volume of motor vehicles fell by 33% in the fourth quarter of 2013, extending the 32% decline in the previous quarter. Meanwhile, the sales of several discretionary items also fell in the fourth quarter of 2013. For instance, the sales of telecommunications apparatus and computers fell by 12%, while the sales of furniture and household equipment declined by 5.4%.

 

For the full year, retail sales volume contracted by 4.3%, a reversal from the 1.3% expansion in 2012. Excluding motor vehicle sales, the retail sales volume grew by 1.1% in 2013, slower than the 1.7% increase in 2012. Watches and jewellery recorded the largest increase (11%) in sales in 2013, followed by optical goods and book (3%) and medical goods and toiletries (3%). By contrast, the sales of telecommunications apparatus and computer (-7.3%), furniture and household equipment (-4.2%) and petrol service stations (-1.4) declined in 2013.

 

 

OVERALL INDUSTRY OUTLOOK : AVERAGE GROWTH



CREDIT RISK EVALUATION & RECOMMENDATION

 


Incorporated in 2011, the Subject is a Private Limited company, focusing on trading of metal, scraps and steel. The Subject has been in business for less than 5 years and it has slowly been building up contact with its clients while competing in the industry. However, it has yet to enjoy a stable market shares as it need to compete many well established players in the same field. We noted that the issued and paid up capital of the Subject stands at USD 600,000. We considered that the Subject's business position in the market is much dependent on the efforts of its director.

Over the years, the Subject has penetrated into both the local and overseas market. The Subject has positioned itself in the global market and is competing in the industry. Its stable clientele base will enable the Subject to further enhance its business in the near term. Being a small company, the Subject's business operation is supported by 4 employees. Overall, we regard that the Subject's management capability is average. This indicates that the Subject has greater potential to improve its business performance and raising income for the Subject.

We noted that both the turnover and profits have increased compared to the previous year. The higher profit could be due to increase in turnover and better control over its operating costs. Return on shareholders' funds of the Subject was at a favourable range which indicated that the management was efficient in utilising its funds to generate income. The Subject is in good liquidity position with its current liabilities well covered by it current assets. Hence, it has sufficient working capital to meet its short term financial obligations. The high gearing ratio clearly implied that the Subject was supported by more debt than equity. Thus, the Subject is exposed to high financial risk. Given a positive net worth standing at USD 1,091,803, the Subject should be able to maintain its business in the near terms.

Having a strong assets backing, the Subject possesses latent assets as collateral for further financial extension. Hence, it has good chance of getting loans if the needs arises.

The Subject's payment habit is average. With its adequate working capital, the Subject should be able to pay its short term debts.

The industry shows an upward trend and this trend is very likely to sustain in the near terms. Hence, the Subject is expected to benefit from the favourable outlook of the industry.

Based on the above condition, we recommend credit be granted to the Subject normally.

 



PROFIT AND LOSS ACCOUNT

 

 

THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL REPORTING STANDARDS.

GRETA METAL PTE. LTD.

 

Financial Year End

2014-03-31

2013-03-31

2012-03-31

Months

12

12

12

Consolidated Account

Company

Company

Company

Audited Account

YES

YES

YES

Unqualified Auditor's Report (Clean Opinion)

YES

YES

YES

Financial Type

FULL

FULL

FULL

Currency

USD

USD

USD

 

 

 

 

TURNOVER

19,177,504

9,970,526

5,537,678

Other Income

34,146

-

-

 

----------------

----------------

----------------

Total Turnover

19,211,650

9,970,526

5,537,678

Costs of Goods Sold

-

-

(5,442,139)

 

----------------

----------------

----------------

Gross Profit

-

-

95,539

 

----------------

----------------

----------------

 

 

 

 

PROFIT/(LOSS) FROM OPERATIONS

295,305

170,811

54,745

 

----------------

----------------

----------------

PROFIT/(LOSS) BEFORE TAXATION

295,305

170,811

54,745

Taxation

(19,495)

(5,392)

(4,171)

 

----------------

----------------

----------------

PROFIT/(LOSS) AFTER TAXATION

275,810

165,419

50,574

 

----------------

----------------

----------------

RETAINED PROFIT/(LOSS) BROUGHT FORWARD

 

 

 

As previously reported

215,993

50,574

-

 

----------------

----------------

----------------

As restated

215,993

50,574

-

 

----------------

----------------

----------------

PROFIT AVAILABLE FOR APPROPRIATIONS

491,803

215,993

50,574

 

----------------

----------------

----------------

RETAINED PROFIT/(LOSS) CARRIED FORWARD

491,803

215,993

50,574

 

=============

=============

=============

 

 

 

 

INTEREST EXPENSE (as per notes to P&L)

 

 

 

Letter of credit

3,213

-

-

Others

148,635

25,836

-

 

----------------

----------------

----------------

 

151,848

25,836

-

 

=============

=============

 

 

 

 

BALANCE SHEET

 

 

GRETA METAL PTE. LTD.

 

Associated companies

-

-

60,000

Investments

2,450,000

2,450,000

-

 

----------------

----------------

----------------

TOTAL LONG TERM INVESTMENTS/OTHER ASSETS

2,450,000

2,450,000

60,000

 

 

 

 

 

----------------

----------------

----------------

TOTAL LONG TERM ASSETS

2,450,000

2,450,000

60,000

 

 

 

 

Trade debtors

3,956,924

1,312,836

2,114,668

Other debtors, deposits & prepayments

692,995

71,573

-

Short term deposits

750,000

-

-

Amount due from related companies

-

-

1,450,339

Cash & bank balances

40,288

14,581

10,226

Others

-

2,793,995

-

 

----------------

----------------

----------------

TOTAL CURRENT ASSETS

5,440,207

4,192,985

3,575,233

 

----------------

----------------

----------------

TOTAL ASSET

7,890,207

6,642,985

3,635,233

 

=============

=============

=============

 

 

 

 

CURRENT LIABILITIES

 

 

 

Trade creditors

1,653,168

1,102,537

-

Other creditors & accruals

118,224

277,909

3,466,929

Hire purchase & lease creditors

-

-

13,559

Bill & acceptances payable

2,373,916

-

-

Amounts owing to director

-

41,154

-

Provision for taxation

20,749

5,392

4,171

 

----------------

----------------

----------------

TOTAL CURRENT LIABILITIES

4,166,057

1,426,992

3,484,659

 

----------------

----------------

----------------

NET CURRENT ASSETS/(LIABILITIES)

1,274,150

2,765,993

90,574

 

----------------

----------------

----------------

TOTAL NET ASSETS

3,724,150

5,215,993

150,574

 

=============

=============

=============

 

 

 

 

SHARE CAPITAL

 

 

 

Ordinary share capital

600,000

600,000

100,000

 

----------------

----------------

----------------

TOTAL SHARE CAPITAL

600,000

600,000

100,000

 

 

 

 

Retained profit/(loss) carried forward

491,803

215,993

50,574

 

----------------

----------------

----------------

TOTAL RESERVES

491,803

215,993

50,574

 

 

 

 

 

----------------

----------------

----------------

SHAREHOLDERS' FUNDS/EQUITY

1,091,803

815,993

150,574

 

 

 

 

Others

2,632,347

4,400,000

-

 

----------------

----------------

----------------

TOTAL LONG TERM LIABILITIES

2,632,347

4,400,000

-

 

----------------

----------------

----------------

 

3,724,150

5,215,993

150,574

 

=============

=============

=============

 

 

 

 

 

FINANCIAL RATIO

 

 

GRETA METAL PTE. LTD.

 

TYPES OF FUNDS

 

 

 

Cash

790,288

14,581

10,226

Net Liquid Funds

(1,583,628)

14,581

10,226

Net Liquid Assets

1,274,150

2,765,993

90,574

Net Current Assets/(Liabilities)

1,274,150

2,765,993

90,574

Net Tangible Assets

3,724,150

5,215,993

150,574

Net Monetary Assets

(1,358,197)

(1,634,007)

90,574

BALANCE SHEET ITEMS

 

 

 

Total Borrowings

2,373,916

0

13,559

Total Liabilities

6,798,404

5,826,992

3,484,659

Total Assets

7,890,207

6,642,985

3,635,233

Net Assets

3,724,150

5,215,993

150,574

Net Assets Backing

1,091,803

815,993

150,574

Shareholders' Funds

1,091,803

815,993

150,574

Total Share Capital

600,000

600,000

100,000

Total Reserves

491,803

215,993

50,574

LIQUIDITY (Times)

 

 

 

Cash Ratio

0.19

0.01

0.00

Liquid Ratio

1.31

2.94

1.03

Current Ratio

1.31

2.94

1.03

WORKING CAPITAL CONTROL (Days)

 

 

 

Stock Ratio

0

0

0

Debtors Ratio

75

48

139

Creditors Ratio

31

40

0

SOLVENCY RATIOS (Times)

 

 

 

Gearing Ratio

2.17

0.00

0.09

Liabilities Ratio

6.23

7.14

23.14

Times Interest Earned Ratio

2.94

7.61

0.00

Assets Backing Ratio

6.21

8.69

1.51

PERFORMANCE RATIO (%)

 

 

 

Operating Profit Margin

1.54

1.71

0.99

Net Profit Margin

1.44

1.66

0.91

Return On Net Assets

12.01

3.77

36.36

Return On Capital Employed

12.01

3.77

33.35

Return On Shareholders' Funds/Equity

25.26

20.27

33.59

Dividend Pay Out Ratio (Times)

0.00

0.00

0.00

NOTES TO ACCOUNTS

 

 

 

Contingent Liabilities

0

0

0

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.65

UK Pound

1

Rs.99.14

Euro

1

Rs.77.60

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

NIS

 

               

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 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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.