MIRA
INFORM REPORT
|
Report Date : |
18.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
ALPHA DESIGN TECHNOLOGIES PRIVATE LIMITED |
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Registered
Office : |
# 9, Service Road, Hal Ii Stage, Indiranagar, Bangalore - 560008, Karnataka |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
02.07.2003 |
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Com. Reg. No.: |
08-032191 |
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Capital
Investment / Paid-up Capital : |
Rs.317.600
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74140KA2003PTC032191 |
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|
|
PAN No.: [Permanent Account No.] |
AAECA3323P |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Defence Electronic Goods. |
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|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 2700000 |
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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 an established company having moderate track record. The company has shown growth in the turnover and profitability during
financial year 2013. However, the company possess a modest scale of financial risk profile.
The rating also take into consideration the stretched liquidity of the
company as the company top two debtors are yet to be cleared. Further, the presence of strong conglomerates like TATA, Mahindra and
Mahindra and Larsen and Turbo in the Indian defense sector continues to pose
a risk as they can significantly limit the opportunities available to smaller
private players in the industry. However, trade relations are reported to be fair. Business is active.
Payments terms are reported to be 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 – 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 |
ICRA |
|
Rating |
Long Term Scale – Fund Based Limits = B+ |
|
Rating Explanation |
High risk of default |
|
Date |
August, 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short Term Scale – Non Fund Based Limits = A4 |
|
Rating Explanation |
Minimal degree of safety it carry very high credit risk. |
|
Date |
August, 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/ Factory : |
# 9, Service Road, Hal Ii Stage, Indiranagar, Bangalore -
560008, Karnataka, India |
|
Tel. No.: |
91-80-25212760 / 25212762 / 41264776 / 42556930 / 42556909 / 25216642 |
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Fax No.: |
91-80-25216541 / 25212761 |
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E-Mail : |
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Website : |
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Delhi Office : |
D-11, 1st Floor, Defence Colony, New Delhi – 110 024, India |
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Tel. No.: |
91-11-43136400 |
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Fax No.: |
91-11-41555487 |
DIRECTORS
As on 25.09.2013
|
Name : |
Mr. Holenarasipura Srikantaiah Shankar |
|
Designation : |
Managing Director |
|
Address : |
# 3778, 13th Main Road, Hal Ii Stage, Bangalore – 560008, Karnataka, India |
|
Date of Birth/Age : |
08.03.1943 |
|
Date of Appointment : |
02.07.2003 |
|
DIN No.: |
00279285 |
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|
|
|
Name : |
Mr. Rakesh Dhar Jayal |
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Designation : |
Whole-time Director |
|
Address : |
A- 16/9, Vasant Vihar, Delhi – 110057, India |
|
Date of Birth/Age : |
04.11.1949 |
|
Date of Appointment : |
02.09.2011 |
|
DIN No.: |
02220460 |
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|
|
|
Name : |
Mr. Akunuri Mohana Rao |
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Designation : |
Director |
|
Address : |
Flat No: 307, Ps Pride Apartment No: 54, K.R Road, Basavanagudi, Bangalore - 560004, Karnataka, India |
|
Date of Birth/Age : |
02.04.1943 |
|
Date of Appointment : |
30.09.2009 |
|
DIN No.: |
02712090 |
KEY EXECUTIVES
|
Name : |
Mr. Gurumurthy G Hegde |
|
Designation : |
Secretary |
|
Address : |
No.270/A, 13th Main, 4th Cross, Mathikere, Bangalore – 560054, Karnataka, India |
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Date of Birth/Age : |
23.09.1981 |
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Date of Appointment : |
01.12.2009 |
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PAN No.: |
ACYPH0540C |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 25.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Vasaka Promoters and Developers Private Limited, India |
|
31750000 |
|
Col. (Retd.) H.S. Shaimkar |
|
10000 |
|
Total |
|
31760000 |
As on 25.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
99.97 |
|
Directors or relatives of Directors |
0.03 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Defence Electronic Goods. |
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Products : |
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GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
State Bank of India, Race Course Road Branch, No 29/4,
Trade Center, Bangalore - 560008, Karnataka, India |
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
--- |
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Auditors : |
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|
Name : |
B.P. Rao and Company Chartered Accountants |
|
Address : |
No.5, Poorna Prasad Road, High Grounds, Bangalore – 560001, Karnataka, India |
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PAN No.: |
AAAFB0643G |
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Holding Company : |
Vasaka Promoters and Developers Private Limited |
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Subsidiary Company
: |
· Alpha ITL Electro Optics Private Limited · Alpha Microwave Systems Private Limited · Alpha Elettronica Defence Systems Private Limited · Alpha Reline Software Technologies Private Limited · Alpha Tocol Engineering Services Private Limited |
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Joint Venture
Company : |
· Alpha Electromachina Power Systems Private Limited ·
Alpha Sofema Engineering and Services Private
Limited |
CAPITAL STRUCTURE
As on 25.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
60000000 |
Equity Shares |
Rs.10/- each |
Rs.600.000 Millions |
|
|
|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
31760000 |
Equity Shares |
Rs.10/- each |
Rs.317.600 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 |
317.600 |
300.100 |
150.100 |
|
(b) Reserves & Surplus |
373.630 |
264.861 |
10.837 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
691.230 |
564.961 |
160.937 |
|
|
|
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(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
225.714 |
278.539 |
522.104 |
|
(b) Deferred tax liabilities (Net) |
8.087 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
219.014 |
14.539 |
0.103 |
|
(d) long-term provisions |
2.364 |
1.466 |
0.680 |
|
Total Non-current Liabilities (3) |
455.179 |
294.544 |
522.887 |
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|
|
|
|
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
253.249 |
253.924 |
231.313 |
|
(b) Trade payables |
761.916 |
378.301 |
186.067 |
|
(c) Other current liabilities |
218.199 |
110.263 |
65.444 |
|
(d) Short-term provisions |
5.516 |
0.551 |
0.253 |
|
Total Current Liabilities (4) |
1238.880 |
743.039 |
483.077 |
|
|
|
|
|
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TOTAL |
2385.289 |
1602.544 |
1166.901 |
|
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|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
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|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
259.603 |
177.755 |
181.636 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
391.600 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible
assets under development |
192.790 |
393.200 |
0.000 |
|
(b) Non-current Investments |
53.727 |
48.327 |
48.327 |
|
(c) Deferred tax assets (net) |
0.000 |
2.719 |
2.254 |
|
(d) Long-term Loan and Advances |
50.640 |
94.824 |
33.712 |
|
(e) Other Non-current assets |
20.864 |
18.777 |
17.333 |
|
Total Non-Current Assets |
577.624 |
735.602 |
674.862 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
242.727 |
354.666 |
216.052 |
|
(c) Trade receivables |
1206.856 |
239.924 |
88.745 |
|
(d) Cash and cash
equivalents |
260.196 |
226.218 |
108.590 |
|
(e) Short-term loans and
advances |
74.250 |
25.949 |
64.146 |
|
(f) Other current assets |
23.636 |
20.185 |
14.506 |
|
Total Current Assets |
1807.665 |
866.942 |
492.039 |
|
|
|
|
|
|
TOTAL |
2385.289 |
1602.544 |
1166.901 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1041.383 |
441.315 |
147.112 |
|
|
|
Other Income |
84.849 |
42.669 |
22.138 |
|
|
|
TOTAL |
1126.232 |
483.984 |
169.250 |
|
|
|
|
|
|
|
|
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EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
1085.407 |
479.094 |
182.218 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
1085.407 |
479.094 |
182.218 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
40.825 |
4.890 |
2.666 |
|
|
|
|
|
|
|
|
|
|
TAX |
19.556 |
0.867 |
1.945 |
|
|
|
|
|
|
|
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|
|
PROFIT AFTER TAX
|
21.269 |
4.023 |
0.721 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
32.151 |
130.700 |
79.500 |
|
|
|
Commission Earnings |
8.685 |
5.900 |
2.800 |
|
|
|
Other Earnings |
0.000 |
1.653 |
0.000 |
|
|
TOTAL EARNINGS |
40.836 |
138.253 |
82.300 |
|
|
|
|
|
|
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|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
638.671 |
264.400 |
118.800 |
|
|
|
Capital Goods |
93.138 |
79.100 |
64.800 |
|
|
TOTAL IMPORTS |
731.809 |
343.500 |
183.600 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.71 |
0.25 |
0.05 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.89 |
0.83 |
0.43 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.92 |
1.11 |
1.81 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.17 |
0.50 |
0.24 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06 |
0.01 |
0.02 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
253.58 |
254.42 |
234.56 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.46 |
1.17 |
1.02 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
150.100 |
300.100 |
317.600 |
|
Reserves & Surplus |
10.837 |
264.861 |
373.630 |
|
Net
worth |
160.937 |
564.961 |
691.230 |
|
|
|
|
|
|
long-term borrowings |
522.104 |
278.539 |
225.714 |
|
Short term borrowings |
231.313 |
253.924 |
253.249 |
|
Total
borrowings |
753.417 |
532.463 |
478.963 |
|
Debt/Equity
ratio |
4.681 |
0.942 |
0.693 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
147.112 |
441.315 |
1041.383 |
|
|
|
199.986 |
135.973 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
147.112 |
441.315 |
1041.383 |
|
Profit |
0.721 |
4.023 |
21.269 |
|
|
0.49% |
0.91% |
2.04% |
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 |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
Note:
The registered office of the company has been shifted from
1st Floor, No.24, Service Road, Domlur Iind Stage Extension, Indiranagar,
Bangalore – 560071, Karnataka, India to present address w.e.f. 18.08.2006.
UNSECURED LOAN
Rs.
In Millions
|
Particular |
As
on 31.03.2013 |
As
on 31.03.2012 |
|
Long-term
borrowings |
|
|
|
Loans and advances from related parties |
26.402 |
60.018 |
|
Other loans and advances |
199.000 |
218.000 |
|
Total |
225.402 |
278.018 |
|
|
|
|
REVIEW OF OPERATION:
The company has continued its steady growth and good performance during the year. This financial year has become a remarkable success to the Company. The Company, for the first time, achieved and crossed Rs. 1000.000 Millions turnover during the financial year. This is due to the excellent support from employees, investors, lenders, customers, and Indian Defence Organisations. The efforts of they committed and dedicated employees deserve special mention in this regard.
The Company achieved major successes in the year 2012-13 by achieving the following milestones:-
a. Sales Turnover has been increased three times from previous year, i.e., from Rs. 441.315 Millions during 2011-12 to Rs. 1041.383 Millions during 2012-13.
b. Profit after tax has increased from Rs. 4.890 Millions during 2011-12 to Rs. 21.369 Millions during 2012-13
BUSINESS PERFORMANCE:
Even though the year 2012-13 was a difficult year for the world as also they country, the Company has succeeded in performing well during the last year. The Company has completed the prestigious LWPLTD project for IAF within the due date (before 30th March, 2013) and supplied to Air Force. By delivering the orders in time bound manner with assured quality level, the Company has strengthened its footprints in the defence sector. During the year many actions have been taken to strengthen the Company’s business and delivery capabilities. By developing large number of in house R & D projects, a firm base has been established for accomplishing greater success in the years to come.
In order to productionise the state-of-art Laser Target Designators, ultra-modern production and test facilities have been established. Orders received from MOD/IAF for Rs. 485.000 Millions for manufacture and supply of Quantity 60 Nos Light Weight Portable Laser Target Designator (LWPLTD) was produced/tested/qualified inspected by Airforce cum DGAQA team and dispatched well within PDC. Large numbers of R & D Projects are on the anvil, including prestigious Alpha Radar, Software Defined Radios for Airforce, Optronics and Thermal Sight etc. This will become the backbone for large value, large quantity future orders. The Company also secured another major prestigious Offset Contract from Elop/Elbit for USD 24.5 Million during March 2013 for TISK programme for BMPs which will be manufactured / supplied during 2013-14 and 2014-15.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10049852 |
12/07/2013 * |
479,200,000.00 |
STATE BANK OF INDIA |
NO.20, BADAGANADU SANGHA, GIRLS HIGH SCHOOL STREET, SESHADRIPURAM, KUMARAPARK (WEST), BANGALORE, KARNATAKA - 560020, INDIA |
B80644156 |
* Date of charge modification
FIXED ASSETS
· Land
· Plant and equipment
· Furniture and fixtures
· Furniture and fixtures
· Vehicles
· Office equipment
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] 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.61.95 |
|
|
1 |
Rs.104.02 |
|
Euro |
1 |
Rs.84.95 |
INFORMATION DETAILS
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
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 |
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 |
|
30 |
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.