MIRA
INFORM REPORT
|
Report Date : |
28.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
EPITOME COMPONENTS LIMITED |
|
|
|
|
Registered Office : |
B-206, Leela Garden, Lane No.10, Opp. Kalpataru Regency, Kalyani
Nagar, Pune – 411006, Maharashtra |
|
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|
|
Country : |
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|
|
|
|
Financials (as on) : |
31.03.2013 |
|
|
|
|
Date of Incorporation : |
08.09.1994 |
|
|
|
|
Com. Reg. No.: |
11-080977 |
|
|
|
|
Capital Investment / Paid-up Capital : |
Rs.30.905
Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U32106PN1994PLC080977 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
PNEE01379A / PNEE01484A |
|
|
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|
PAN No.: [Permanent
Account No.] |
AAACE5491L |
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|
|
Legal Form : |
A Closely Held Public Limited
Liability Company |
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|
|
Line of Business : |
Manufacturer of PCBs. |
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|
|
No. of Employees : |
800 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
B (31) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 777200 |
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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 is continuously incurring losses from its two years of operations.
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
cautions. |
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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
BB+ [Long Term] |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
20.06.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A4+ [Short Term] |
|
Rating Explanation |
Minimal degree of safety. It carry very high credit risk. |
|
Date |
20.06.2013 |
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.
INFORMATION PARTED BY
|
Name : |
Mr. Girish Vaikar |
|
Designation : |
Marketing Manager |
|
Contact No.: |
91-9970053305 |
|
Date : |
27.02.2014 |
LOCATIONS
|
Registered Office : |
B-206, Leela Garden, Lane No.10, Opp. Kalpataru Regency, Kalyani
Nagar, Pune – 411006, Maharashtra, India |
|
Tel. No.: |
91-241-2777684 |
|
Fax No.: |
91-241-2778241 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
13000 Sq. Ft |
|
Location : |
Owned |
|
|
|
|
Factory 1 / Head
Office : |
G – 17, MIDC Industrial Area, Ahmednagar – 414 111, Maharashtra, India
|
|
Tel. No.: |
91-241-2777684/ 2777681/ 2779081 |
|
Fax No.: |
91-241-2778241 |
|
E-Mail : |
|
|
Area : |
13000 Sq. Ft. |
|
Location : |
Owned |
|
|
|
|
Factory 2 : |
Plot No. C-40, MIDc Area,
Ahmednagar – 414 111, |
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|
|
|
Factory 3 : |
Plot No. 20/1, Supa MIDC Village, Hanga, Tlauka Parner, District,
Ahmednagar – 414 111, Maharashtra |
|
|
|
|
Branch Office : |
They have Branch Office and Depot at Noida |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Shrigopal Ramnath Dhoot |
|
Designation : |
Whole Time Director |
|
Address : |
Gangapur GIN Compound, |
|
Date of Birth/Age : |
09.02.1942 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
20.08.1994 |
|
DIN No. : |
00265804 |
|
|
|
|
Name : |
Mr. Ramesh Chandra Ramnath Dhoot |
|
Designation : |
Director |
|
Address : |
Madhuram Govind Nagar, |
|
Date of Birth/Age : |
29.05.1945 |
|
Date of Appointment : |
20.08.1994 |
|
DIN No. : |
00351314 |
|
|
|
|
Name : |
Mr. Anurag Shrigopal Dhoot |
|
Designation : |
Whole Time Director |
|
Address : |
Gangapur GIN Compound, |
|
Date of Birth/Age : |
14.08.1970 |
|
Qualification : |
B.E. Tech |
|
Date of Appointment : |
20.08.1994 |
|
DIN No. : |
00265878 |
KEY EXECUTIVES
|
Name : |
Mr. Girish Vaikar |
|
Designation : |
Marketing Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
No. of Equity
Shares |
No. of
Preferences Shares |
|
Dhoot R Shrigopal |
341300 |
-- |
|
Dhoot S Pratibha |
149465 |
-- |
|
Dhoot S Anuraag |
70500 |
-- |
|
Dhoot A Vaishali |
69135 |
-- |
|
Dhoot R Shrigopal HUF |
375600 |
-- |
|
Dhoot A Paritosh |
79000 |
-- |
|
Rameshchandra R Dhoot HUF |
95000 |
-- |
|
Platinum Appliances Private Limited, India |
354000 |
-- |
|
Greenfield Appliances Private Limited, India |
354000 |
-- |
|
Shri Dhoot Trading and Agency Private Limited, India |
-- |
120250 |
|
|
|
|
|
TOTAL
|
1888000 |
120250 |
AS ON 30.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
37.50 |
|
Directors
or relatives of directors |
|
42.61 |
|
Other
top fifty shareholders |
|
19.89 |
|
TOTAL |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of PCBs. |
GENERAL INFORMATION
|
Suppliers : |
Kingboard Laminates |
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Customers : |
Videocon International Limited |
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No. of Employees : |
800 [Approximately] |
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Bankers : |
· State Bank of India, Main Branch, Opposite GPO, Station Road, Ahmed Nagar– 414111, Maharashtra · ICICI Bank Limited · Axis Bank |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
|
Name : |
B. B. Bharadia and Company Chartered Accountants |
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|
Address : |
5417, Ganje Galli, Ahmed Nagar - 414001, |
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|
PAN No: |
AHEPB3065B |
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|
|
|
|
Associates : [As on 31.03.2011] |
||
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3547500 |
Equity Shares |
Rs.10/- each |
Rs.35.475 Millions |
|
120250 |
Preferences Shares |
Rs.100/- each |
Rs.12.025 Millions |
|
|
TOTAL
|
|
Rs.47.500
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1888000 |
Equity Shares |
Rs.10/- each |
Rs.18.880
Millions |
|
120250 |
Preferences Shares |
Rs.100/- each |
Rs.12.025
Millions |
|
|
TOTAL |
|
Rs.30.905 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
30.905 |
30.905 |
30.905 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
163.405 |
167.656 |
176.851 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
194.310 |
198.561 |
207.756 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
150.079 |
192.485 |
221.264 |
|
|
2] Unsecured Loans |
88.127 |
82.456 |
84.707 |
|
|
TOTAL BORROWING |
238.206 |
274.941 |
305.971 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
432.516 |
473.502 |
513.727 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
235.862 |
266.510 |
290.669 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
1.313 |
1.313 |
3.360 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
100.770
|
91.537
|
84.829
|
|
|
Sundry Debtors |
188.433
|
207.855
|
184.310
|
|
|
Cash & Bank Balances |
24.399
|
31.538
|
24.622
|
|
|
Other Current Assets |
44.906
|
49.797
|
0.000
|
|
|
Loans & Advances |
5.671
|
6.997
|
57.270
|
|
Total
Current Assets |
364.179
|
387.724
|
351.031
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
114.012
|
136.323
|
115.648
|
|
|
Other Current Liabilities |
43.627
|
41.697
|
10.265
|
|
|
Provisions |
11.199
|
4.025
|
6.058
|
|
Total
Current Liabilities |
168.838
|
182.045
|
131.971
|
|
|
Net Current Assets |
195.341
|
205.679
|
219.060
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.638 |
|
|
|
|
|
|
|
|
TOTAL |
432.516 |
473.502 |
513.727 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
931.150 |
792.370 |
801.107 |
|
|
|
Other Income |
4.243 |
5.196 |
3.544 |
|
|
|
TOTAL (A) |
935.393 |
797.566 |
804.651 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
547.921 |
464.089 |
421.055 |
|
|
|
Other Expenses |
290.887 |
259.785 |
246.333 |
|
|
|
Changes in Inventories of FG, WIP and Others |
0.395 |
(7.902) |
0.000 |
|
|
|
TOTAL (B) |
839.203 |
715.972 |
667.388 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
96.190 |
81.594 |
137.263 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
51.623 |
48.576 |
44.807 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
44.567 |
33.018 |
92.456 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
43.625 |
42.213 |
40.184 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
0.942 |
(9.195) |
52.272 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
5.194 |
0.000 |
13.760 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(4.252) |
(9.195) |
38.512 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
(4.252) |
(9.195) |
36.171 |
|
|
|
Dividend |
0.000 |
0.000 |
2.008 |
|
|
|
Tax on Dividend |
0.000 |
0.000 |
0.333 |
|
|
BALANCE CARRIED
TO THE B/S |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
19.213 |
24.024 |
10.582 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
524.661 |
452.771 |
439.725 |
|
|
|
Consumable Stores & Others |
44.025 |
41.927 |
21.342 |
|
|
|
Capital Goods |
8.404 |
12.011 |
11.840 |
|
|
TOTAL IMPORTS |
577.090 |
506.709 |
472.907 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(2.12) |
(4.57) |
10.58 |
|
Expected Sales (2013-14) : Rs.1170.000 Millions.
The above information has been parted by Mr. Girish Vaikar.
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(0.45)
|
(1.15) |
4.79 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.10
|
(1.16) |
6.52 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.15
|
(1.41) |
8.15 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00
|
(0.05) |
0.25 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.23
|
1.38 |
1.47 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.15
|
2.13 |
2.65 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns.) |
(INR
in Mlns.) |
(INR
in Mlns.) |
|
Share Capital |
30.905 |
30.905 |
30.905 |
|
Reserves & Surplus |
176.851 |
167.656 |
163.405 |
|
Net
worth |
207.756 |
198.561 |
194.310 |
|
|
|
|
|
|
Secured Loan |
221.264 |
192.485 |
150.079 |
|
Unsecured Loan |
84.707 |
82.456 |
88.127 |
|
Total
borrowings |
305.971 |
274.941 |
238.206 |
|
Debt/Equity
ratio |
1.473 |
1.385 |
1.226 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Sales |
801.107 |
792.370 |
931.150 |
|
|
|
(1.091) |
17.515 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Sales |
801.107 |
792.370 |
931.150 |
|
Profit |
38.512 |
(9.195) |
(4.252) |
|
|
4.81% |
(1.16%) |
(0.46%) |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF CURRENT MATURITIES OF LONG TERM
DEBT: 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 |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
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 |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
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] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth 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 |
INDEX OF CHARGES:
|
S. NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10183239 |
15/10/2009 |
192,200,000.00 |
STATE BANK OF
INDIA |
AHEMADNAGAR MAIN
BRANCH OPPOSITE GPO, STATION ROAD, AHAMADNAGAR - 414001, MAHARASHTRA, INDIA |
A72629637 |
|
2 |
90090454 |
23/03/2005 * |
29,000,000.00 |
STATE BANK OF
INDIA |
AHMEDABAD MAIN
BRANCH, AHMEDABAD, GUJARAT, INDIA |
- |
|
3 |
90090446 |
26/06/2013 * |
494,700,000.00 |
STATE BANK OF
INDIA |
MAIN BRANCH,
OPPOSITE GPO, STATION ROAD, AHMEDNAGAR - 414001, |
B79392999 |
* Date of charge modification
CONTINGENT LIABILITIES NOT PROVIDED FOR, IN RESPECT OF:
|
Particulars |
31.03.2013 [Rs. in millions] |
31.03.2012 [Rs. in millions] |
|
Outstanding
guarantees furnished to banks and financial institutions including in respect
of letter of credit |
24.386 |
24.085 |
|
Liability in respect
of bill/LC discounted with banks |
135.456 |
149.606 |
|
TOTAL |
159.842 |
173.691 |
|
Unsecured Loan |
As
on 31.03.2013 [Rs.
in Millions] |
As
on 31.03.2012 [Rs.
in Millions] |
|
Loans From Directors and Relatives |
51.019 |
40.540 |
|
Deferred Sales Tax Liability [Under package scheme of incentives] |
37.108 |
41.916 |
|
TOTAL
|
88.127 |
82.456 |
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Electrical Installation
·
Furniture and Fixture
·
Tools and Equipment
·
Vehicle
·
Computers
·
Air Conditioner
·
Office 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.61.94 |
|
|
1 |
Rs.103.31 |
|
Euro |
1 |
Rs.85.11 |
INFORMATION DETAILS
|
Information Gathered
by : |
PDT |
|
|
|
|
Report Prepared
by : |
TPT |
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 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
31 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment record
(10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.