MIRA
INFORM REPORT
|
Report Date : |
12.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
DEMOSHA CHEMICALS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
105-A, Mittal Tower, 210, Nariman Point, Mumbai – 400021, |
|
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|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
27.10.1970 |
|
|
|
|
Com. Reg. No.: |
11-014859 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.19.900 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24110MH1970PTC014859 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMD09824D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACD3822A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
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Line of Business
: |
Manufacturer of Inorganic Chemicals. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (36) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 655000 |
|
|
|
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Slow but correct |
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|
|
|
Litigation : |
Clear |
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|
|
Comments : |
Subject is an established company having a moderate track record. The rating takes into consideration adverse regulatory changes and downturns
in the domestic end-user industries and increasing competition in the sector,
which constrains profitability. However, trade relations are fair. Business is active. Payments are
reported to be slow but correct. The company can be considered for business dealing with some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
The worst is over for India’s economy with gross domestic product likely
to expand 5 %to 5.5 % this year and more than 6 % in 2015, according to Moody’s
Analytics. Concerns over the rupee and current account deficit are under
control, said the agency. Ratings firm Crisil has forecast 6 % growth for
2014/15 up from the estimated 4.8 % for 2013/14. Total economic growth,
infrastructure bottlenecks and lack of transparency and consistency in foreign
direct investment policies seem to have taken a toll on India’s attractiveness
as an investment destination, says an Ernst & Young survey. Projects
with FDI component fell 16.4 % across the globe in 2012 from the previous
year. The drop in India was steeper at 21 %. State run carrier Air India
is doling out free tickets to its 24000 employees, even as it expects to incur
a loss of Rs 39000 mn this financial year and has a debt of Rs 350000 mn.
550000 number of jobs generated across India in 2013, a fall of 0.4 % as
compared to with a year earlier. The National Capital Region has a
one-fourth share in total jobs created, according to a study by industry lobby
group Assochem, Banks, real estate, automobile and telecommunications sectors
are showing a rise of job creation. $ 805 mn investments by venture capital
firms in India during 2013, registering a drop of about 18 % over the previous
year. The Information Technology and IT-Enabled Services Industry retained
its status as the favourable venture capital investors in 2013. Pakistan has
temporarily banned gold imports for the second time in six months, as it tries
to stem smuggling into India. India’s import duty on gold is 10 % and curbs on
purchases have dried up legal imports into what used to be the world’s biggest
bullion buyers. The World Gold Council puts the amount smuggled into India at
upto 200 tonnes in 2013. The Reserve Bank of India has proposed that unclaimed
bank deposits estimated to be about Rs 35000 mn be used for education and
awareness among depositors. According to the plan, deposits that have not
been claimed for at least 10 years will be transferred to the scheme.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
BB (Long Term Rating) |
|
Rating Explanation |
Have moderate risk of default. |
|
Date |
April 29, 2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A4+ (Short Term Rating) |
|
Rating Explanation |
Have minimal degree of safety and carry very
high credit risk. |
|
Date |
April 29, 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
31-03-2012.
LOCATIONS
|
Registered Office/ ADM.
Office : |
105-A, Mittal Tower, 210, Nariman Point, Mumbai – 400021, Maharashtra,
India |
|
Tel. No.: |
91-22-22823558 / 22823588 / 22852189 / 22872218 |
|
Fax No.: |
91-22-22045997 |
|
E-Mail : |
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|
Website : |
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|
Location : |
Owned |
|
|
|
|
Factory: |
GIDC Industrial Estate, Gundlav - 396005, Gujarat, India |
|
Tel. No.: |
91-2632-2632-237271 / 2 / 3 |
|
Fax No.: |
91-2632-2632-237277 |
|
E-Mail : |
|
|
Location : |
Owned |
DIRECTORS
As on: 27.09.2013
|
Name : |
Mr. Gautam Bhogilal Shah |
|
Designation : |
Whole Time Director |
|
Address : |
19, 7th Floor, Panchasar Building, 76 Netaji Subhash Marg,
Marine Drive, Mumbai - 400020, Maharashtra, India |
|
Date of Birth/Age : |
08.01.1946 |
|
Date of Appointment : |
01.03.1995 |
|
PAN No.: |
AAOPS2532D |
|
DIN No.: |
00665651 |
|
|
|
|
Name : |
Mr. Chinubhai Shantilal Shah |
|
Designation : |
Whole Time Director |
|
Address : |
903, Chandanbala, R. R. Thakkar Marg, Mumbai – 400006, Maharashtra, India |
|
Date of Birth/Age : |
13.12.1937 |
|
Date of Appointment : |
01.05.1997 |
|
PAN No.: |
AAQPS6109L |
|
DIN No.: |
00209638 |
|
|
|
|
Name : |
Mr. Vijay Monish Parikh |
|
Designation : |
Director |
|
Address : |
10/C, 5th Floor, Ishwardas Mansion, Nana Chowk, Mumbai -
400007, Maharashtra, India. |
|
Date of Birth/Age : |
09.09.1955 |
|
Date of Appointment : |
01.03.1995 |
|
PAN No.: |
AAFPP6546F |
|
DIN No.: |
01556958 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 27.09.2013
SHAREHOLDING DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on: 27.09.2013
|
Category |
|
Percentage |
|
Bodies corporate |
|
5.38 |
|
Directors or relatives of directors |
|
94.62 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Inorganic Chemicals. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
Bank of Baroda, Bulsar Main Branch, Nani Khatriwad, Bulsar - 396001, Gujarat, India |
||||||||||||||||||||||||
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|
||||||||||||||||||||||||
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Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
R P Shah and Company Chartered Accountants |
|
Address : |
Office No.35, 3rd Floor, Tardeo, AC Market, Mumbai – 400
034, |
|
PAN No.: |
ABSPD1234G |
|
|
|
|
Associates : |
· Western India Chemicals · Industrial Solvents and Chemicals Private Limited U24110MH1959PTC011440 · BMS Chemie ·
Mudrika Finance and Investment Private Limited U67120MH1999PTC118079 |
CAPITAL STRUCTURE
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
600000 |
Equity Shares |
Rs.100/- each |
Rs.60.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
199000 |
Equity Shares |
Rs.100/- each |
Rs.19.900 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 |
19.900 |
19.900 |
19.900 |
|
(b) Reserves & Surplus |
143.989 |
94.435 |
91.379 |
|
(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) |
163.889 |
114.335 |
111.279 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
213.123 |
205.459 |
174.027 |
|
(b) Deferred tax liabilities (Net) |
4.286 |
2.147 |
0.000 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
217.409 |
207.606 |
174.027 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
66.281 |
93.137 |
141.808 |
|
(b) Trade payables |
98.644 |
153.153 |
119.078 |
|
(c) Other current liabilities |
65.169 |
24.424 |
22.092 |
|
(d) Short-term provisions |
7.645 |
7.410 |
7.324 |
|
Total Current Liabilities (4) |
237.739 |
278.124 |
290.302 |
|
|
|
|
|
|
TOTAL |
619.037 |
600.065 |
575.608 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
93.269 |
79.168 |
83.356 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
6.901 |
13.626 |
1.090 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.031 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.624 |
|
(d) Long-term Loan and Advances |
0.375 |
6.416 |
6.327 |
|
(e) Other Non-current assets |
0.081 |
0.081 |
0.000 |
|
Total Non-Current Assets |
100.626 |
99.291 |
91.428 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
227.867 |
170.353 |
187.704 |
|
(c) Trade receivables |
251.365 |
292.515 |
274.347 |
|
(d) Cash and cash equivalents |
15.960 |
6.492 |
3.503 |
|
(e) Short-term loans and advances |
18.411 |
22.050 |
17.260 |
|
(f) Other current assets |
4.808 |
9.364 |
1.366 |
|
Total Current Assets |
518.411 |
500.774 |
484.180 |
|
|
|
|
|
|
TOTAL |
619.037 |
600.065 |
575.608 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
1247.700 |
1120.400 |
|
|
|
Other Income |
|
4.727 |
0.701 |
|
|
|
TOTAL (A) |
1464.748 |
1252.427 |
1121.101 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
1331.971 |
1185.920 |
1026.525 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
132.777 |
66.507 |
94.576 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
37.706 |
40.544 |
37.225 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
95.071 |
25.963 |
57.351 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
9.512 |
10.354 |
8.828 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
85.559 |
15.609 |
48.523 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
29.638 |
6.771 |
15.254 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
55.921 |
8.838 |
33.269 |
|
|
|
|
|
|
|
|
|
|
Prior period
adjustments |
(0.585) |
0.000 |
(0.002) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
38.435 |
36.379 |
13.894 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
6.000 |
1.000 |
5.000 |
|
|
|
Proposed Dividend |
4.975 |
4.975 |
4.975 |
|
|
|
Tax on Proposed Dividend |
0.807 |
0.807 |
0.807 |
|
|
BALANCE CARRIED
TO THE B/S |
81.989 |
38.435 |
36.379 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
103.268 |
103.268 |
117.499 |
|
|
TOTAL EARNINGS |
103.268 |
103.268 |
117.499 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
30.926 |
30.926 |
27.852 |
|
|
|
Stores & Spares |
0.325 |
0.325 |
0.341 |
|
|
TOTAL IMPORTS |
31.251 |
31.251 |
28.193 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
281.01 |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
3.82 |
0.71 |
2.97 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA |
1.25 |
4.33 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
13.98 |
2.66 |
8.46 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
052 |
0.13 |
0.43 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.70 |
2.61 |
2.83 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.18 |
1.81 |
2.78 |
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 |
No |
|
10] |
Designation of contact person |
No |
|
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 |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
UNSECURED LOAN
(Rs.
In Millions)
|
Particular |
As on 31.03.2013 |
As on 31.03.2012 |
|
LONG-TERM
BORROWINGS |
|
|
|
Deposits from others |
4.301 |
3.865 |
|
Loans and advances from directors |
208.748 |
201.004 |
|
|
|
|
|
Total |
213.049 |
204.869 |
PERFORMANCE OF THE
COMPANY
The company posted an all-round improved performance with an impressive top line growth and earnings reflecting the robustness of its corporate strategy of creating multiple drivers of growth. This performance is particularly noteworthy when viewed again the bankfrop of the extremely challenging business content resulting out of a regulated regime.
The company recorded revenue of Rs.1616.100 Millions for the year ended 31st March 2013 as compared to Rs.1355.500 Millions in the previous year 2011–12. The earnings before interest, depreciation and tax for the year was Rs.132.800 Millions as against previous year’s Rs.66.500 Millions.
CURRENT YEAR OUT LOOK
The expected decline in growth rate in India is bound to affect their performance in the current year and the rate of growth achieved in last year may not be maintained in the current year. During the current year energy cost has further gone up. Continuation of higher inflation rate will also increase labour cost further in the current year. The year is bound to be with lots of uncertainty and the company hopes to maintain the profitability as of last year.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
90232268 |
23/02/2004 |
12,000,000.00 |
BANK OF BARODA |
BULSAR BRANCH, BULSAR, MAHARASHTRA, INDIA |
- |
|
2 |
90232198 |
08/11/2006 * |
52,000,000.00 |
BANK OF BARODA |
BULSAR MAIN BRANCH, NANI KHATRIWAD, BULSAR, GUJARAT - 396001, INDIA |
A33820242 |
|
3 |
90226992 |
24/11/2006 * |
185,000,000.00 |
BANK OF BARODA |
BULSAR MAIN BRANCH, NANI KHATRIWAD, BULSAR, GUJARAT - 396001, INDIA |
A38894895 |
|
4 |
90229505 |
21/09/1999 |
18,500,000.00 |
BANK OF BARODA |
BULSAR MAIN BRANCH, NANI KHATRIWAD, BULSAR, GUJARAT - 396001, INDIA |
- |
|
5 |
90229263 |
26/09/1997 |
102,500,000.00 |
BANK OF BARODA |
BULSAR MAIN BRANCH, NANI KHATRIWAD, BULSAR, GUJARAT - 396001, INDIA |
- |
|
6 |
90229132 |
15/11/1996 |
200,000.00 |
BANK OF BARODA |
MOTA BAZAR, BULSAR, GUJARAT, INDIA |
- |
|
7 |
90228839 |
12/10/1994 |
7,500,000.00 |
BANK OF BARODA |
BULSAR MAIN BRANCH, NANI KHATRIVAD, BULSAR, MAHARASHTRA - 396001, INDIA |
- |
|
8 |
90231902 |
12/10/1994 * |
11,000,000.00 |
BANK OF BARODA |
BULSAR MAIN BRANCH, NANI KHATRIVAD, BULSAR, MAHARASHTRA - 396001, INDIA |
- |
|
9 |
90228810 |
25/07/1996 * |
18,000,000.00 |
INDUSTRAL DEVELOPMENT BANK OF INDIA |
NEPTUNE TOWER, NEHRU BRIDGE; ASHRAM ROAD, AHMEDABAD, MAHARASHTRA - 380009, INDIA |
- |
|
10 |
90231783 |
30/03/1992 * |
10,000,000.00 |
BANK OF BARODA |
NANI KHATRIWAD, BULSAR, GUJARAT - 396001, INDIA |
- |
* Date of charge modification
FIXED ASSETS
Tangible Assets
· Land
· Buildings
· Plant and Equipment
· Factory Equipments
· Furniture and Fixtures
· Vehicles
· Office Equipment
· Computer Equipments
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.62.44 |
|
|
1 |
Rs.102.48 |
|
Euro |
1 |
Rs.85.28 |
INFORMATION DETAILS
|
Report Prepared
by : |
VRN |
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 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
36 |
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.