MIRA
INFORM REPORT
|
Report Date : |
17.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
DANONE NARANG BEVERAGES PRIVATE LIMITED (w.e.f. 30.12.2010) |
|
|
|
|
Formerly Known
As : |
NARANG BEVERAGES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Hall No.3, Sarkar Heritage, Kane and |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of Incorporation
: |
24.08.2007 |
|
|
|
|
Com. Reg. No.: |
11-173425 |
|
|
|
|
Capital
Investment/ Paid-up Capital: |
Rs.0.204
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15500MH2007PTC173425 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of EMCG Product (Mineral Water). |
|
|
|
|
No. of
Employees: |
Information declined by the Management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 790000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. The rating continue to remain constrained due to continues dip in company’s
sales turnover and losses incurred from operational activities. However, trade relations are fair. Business is active. Payment terms
are slow but correct. The company can be considered for business dealing with some caution. Note: The company has change its financial year from 15 months (1st
April 2010 to 30th June 2011) to 9 months (July 2011 to March
2012). |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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.
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.
INFORMATION DECLINED BY
|
Name : |
Ms. Armee |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-9167317798 |
|
Date : |
14.02.2014 |
LOCATIONS
|
Registered Office : |
Hall No.3, Sarkar Heritage, Kane and B.J. Road, Bandstand, Bandra (West),
Mumbai – 400 050, Maharashtra, India |
|
Tel. No.: |
91-22-61330605 / 61330508/61330624 |
|
Mobile No.: |
91-9167317798 (Ms. Armee) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
10000 sq. ft. |
|
Location : |
Leased |
|
|
|
|
Factory : |
Adhya Himalaya
Water Plot 81 D1 EPIP, Phase I, Jharmjri, Baddi, District Solan, Himachal
Pradesh, India |
|
Tel. No.: |
91-1795-271600 |
DIRECTORS
As on 20.09.2013
|
Name : |
Mr. Rahul Rama Narang |
|
Designation : |
Director |
|
Address : |
Narang House, 40, Pali Hill, Zig Zag Road, Bandra (West), Mumbai – 400
050, Maharashtra, India |
|
Date of Birth/Age : |
10.04.1974 |
|
Date of Appointment : |
24.08.2007 |
|
DIN No.: |
00029995 |
|
|
|
|
Name : |
Mrs. Mona Rama Narang |
|
Designation : |
Additional Director |
|
Address : |
Narang House, 40, Pali Hill, Zig Zag Road, Bandra (West), Mumbai – 400
050, Maharashtra, India |
|
Date of Birth/Age : |
13.03.1947 |
|
Date of Appointment : |
02.03.2009 |
|
DIN No.: |
02966597 |
|
|
|
|
Name : |
Mr. Vincent Robert |
|
Designation : |
Director |
|
Address : |
09, |
|
Date of Birth/Age : |
20.09.1958 |
|
Date of Appointment : |
16.07.2010 |
|
DIN No.: |
03187008 |
|
|
|
|
Name : |
Mr. Bernard Alain Marie Ducros |
|
Designation : |
Nominee Director |
|
Address : |
JL Cilandak Bawah I No.65, Jakarta Selatan, Indonesia-12430 |
|
Date of Birth/Age : |
19.04.1949 |
|
Date of Appointment : |
16.07.2010 |
|
DIN No.: |
03128257 |
|
|
|
|
Name : |
Mr. Pierre Marie Stevens |
|
Designation : |
Additional director |
|
Address : |
26, Cassia Drive Singapore – 289719 |
|
Date of Birth/Age : |
27.06.1974 |
|
Date of Appointment : |
31.12.2012 |
|
DIN No.: |
05234852 |
KEY EXECUTIVES
|
Name : |
Ms. Armee |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 20.09.2013
|
Names of Shareholders |
No. of Shares |
%age |
|
Rahul Rama Narang |
9999 |
48.99 |
|
Myen Pte Limited, Singapore |
10409 |
51.00 |
|
Narang Buzz Services Private Limited, India |
1 |
0.00 |
|
TOTAL |
20409 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 20.09.2013
|
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 |
51.00 |
|
Directors or relatives of Directors |
49.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of EMCG Product (Mineral Water). |
|
|
|
|
Brand Names : |
“QUA” |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the Management |
|
|
|
|
Bankers : |
Not Divulged |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse and Company Chartered Accountants |
|
Address : |
252, Veer Savarkar Marg, Shivaji Park, Dadar (West), Mumbai – 400028,
Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAHFP0187A |
|
|
|
|
Holding company: |
Myen Pte Limited, Singapore |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
20409 |
Equity Shares |
Rs.10/- each |
Rs.0.204
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 (9 Months) |
30.06.2011 (15 Months) |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
0.204 |
0.204 |
|
(b) Reserves & Surplus |
|
197.783 |
255.965 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
197.987 |
256.169 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
|
0.000 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
0.000 |
0.110 |
|
0(b) Trade payables |
|
44.427 |
52.131 |
|
(c) Other current
liabilities |
|
5.218 |
5.433 |
|
(d) Short-term provisions |
|
0.000 |
0.017 |
|
Total Current Liabilities (4) |
|
49.645 |
57.691 |
|
|
|
|
|
|
TOTAL |
|
247.632 |
313.860 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
16.814 |
7.823 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
0.947 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
59.050 |
68.653 |
|
(e) Other Non-current assets |
|
2.190 |
1.094 |
|
Total Non-Current Assets |
|
79.001 |
77.570 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
5.140 |
1.724 |
|
(c) Trade receivables |
|
19.376 |
32.870 |
|
(d) Cash and cash
equivalents |
|
117.352 |
190.032 |
|
(e) Short-term loans and
advances |
|
25.247 |
9.832 |
|
(f) Other current assets |
|
1.516 |
1.832 |
|
Total Current Assets |
|
168.631 |
236.290 |
|
|
|
|
|
|
TOTAL |
|
247.632 |
313.860 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
0.100 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
(0.079) |
|
|
NETWORTH |
|
|
0.021 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.012 |
|
|
TOTAL BORROWING |
|
|
0.012 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
0.033 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
0.000 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000
|
|
|
Sundry Debtors |
|
|
0.000
|
|
|
Cash & Bank Balances |
|
|
0.035
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
0.000
|
|
Total
Current Assets |
|
|
0.035 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
0.014
|
|
|
Other Current Liabilities |
|
|
0.000
|
|
|
Provisions |
|
|
0.000
|
|
Total
Current Liabilities |
|
|
0.014 |
|
|
Net Current Assets |
|
|
0.021
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.012 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
0.033 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 (9 Months) |
30.06.2011 (15 Months) |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
96.441 |
113.015 |
0.000 |
|
|
|
Other Income |
10.465 |
15.001 |
0.000 |
|
|
|
TOTAL (A) |
106.906 |
128.016 |
0.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of material consumed |
6.626 |
0.000 |
0.000 |
|
|
|
Purchased of traded goods |
55.209 |
104.162 |
0.000 |
|
|
|
Changes in inventories of finished and traded goods |
0.379 |
(1.724) |
0.000 |
|
|
|
Employee benefits expenses |
19.208 |
21.554 |
0.000 |
|
|
|
Other Expenses |
80.529 |
62.913 |
0.008 |
|
|
|
TOTAL (B) |
161.951 |
186.905 |
0.008 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(55.045) |
(58.889) |
(0.008) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.111 |
0.046 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(55.156) |
(58.935) |
(0.008) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
3.026 |
2.298 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(58.182) |
(61.233) |
(0.008) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(58.182) |
(61.233) |
(0.008) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(61.312) |
(0.079) |
(0.071) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(119.494) |
(61.312) |
(0.079) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Miscellaneous Income |
NA |
NA |
1.833 |
|
|
TOTAL EARNINGS |
NA |
NA |
1.833 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Finished Goods |
NA |
NA |
1.534 |
|
|
TOTAL IMPORTS |
NA |
NA |
1.534 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(loss) Per Share (Rs.) |
(2851.00) |
(3341.000) |
(0.80) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 (9 Months) |
30.06.2011 (15 Months) |
31.03.2010 |
|
PAT / Total Income |
(%) |
(54.42)
|
(47.83) |
0.00 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(54.52)
|
(54.18) |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(23.59)
|
(19.51) |
(22.86) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.29)
|
(0.24) |
(0.38) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00
|
0.00 |
0.57 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.40
|
4.10 |
2.50 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
|
30.06.2011 |
31.03.2012 |
|
|
|
(15
Months) |
(9
Months) |
|
|
|
(INR
in Mlns.) |
(INR
in Mlns.) |
|
Share Capital |
|
0.204 |
0.204 |
|
Reserves & Surplus |
|
255.965 |
197.783 |
|
Net
worth |
|
256.169 |
197.987 |
|
|
|
|
|
|
long-term borrowings |
|
0.000 |
0.000 |
|
Short term borrowings |
|
0.110 |
0.000 |
|
Total
borrowings |
|
0.110 |
0.000 |
|
Debt/Equity
ratio |
|
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2010 |
30.06.2011 |
31.03.2012 |
|
|
|
(15
Months) |
(9
Months) |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Income |
0.000 |
113.015 |
96.441 |
|
|
|
|
(14.665) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2010 |
30.06.2011 |
31.03.2012 |
|
|
|
(15
Months) |
(9
Months) |
|
|
(INR) |
(INR) |
(INR) |
|
Income |
0.000 |
113.015 |
96.441 |
|
Profit |
(0.008) |
(61.233) |
(58.183) |
|
|
|
(54.18%) |
(60.33%) |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS: NOT AVAILABLE
|
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 |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
No |
|
24] |
Banking facility details |
No |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
No |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY
UNSECURED LOAN
|
PARTICULARS |
31.03.2012 (9 Months) |
30.06.2011 (15 Months) |
|
Short-term
borrowings |
|
|
|
Loan from a director |
0.000 |
0.110 |
|
|
|
|
|
Total |
0.000 |
0.110 |
FIXED ASSETS
Tangible Assets
·
Plant and Machinery
·
Office Equipment’s
·
Computers
·
Vehicles
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No 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.62.28 |
|
|
1 |
Rs.103.67 |
|
Euro |
1 |
Rs.87.18 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
26 |
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.