MIRA INFORM REPORT
|
Report Date : |
28.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
SUPERMAX PERSONAL CARE PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
6th Floor Hamilton A, Hiranandani Estate, Ghodbunnder Road,
Thane (West), Thane – 400607, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
03.09.2010 |
|
|
|
|
Com. Reg. No.: |
11-207411 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 0.500 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27310MH2010PTC207411 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNES29813A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAOCS7144Q |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Shaving Products. |
|
|
|
|
No. of Employees
: |
Information declined by management |
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 6070000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. Company has incurred loss from its operation in the year 2013. However, trade relation are fair. Business is active. Payment terms
are 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.
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
MANAGEMENT NON-COOPERATIVE (Tel. No.: 91-22-39291068)
LOCATIONS
|
Registered/ Corporate Office : |
6th Floor, Hamilton “A”, Hiranandani Estate, Ghodbunder Road,
Thane (West), Thane - 400607, Maharashtra, India |
|
Tel. No.: |
91-22-39291000 |
|
Fax No.: |
91-22-39167197 |
|
E-Mail : |
suryakant.khare@supermaxworld.com
|
|
|
|
|
Factory 1: |
Wagle Estate, P.O. L.B.S Marg, Thane (West), Thane - 400604
Maharashtra, India |
|
Tel No.: |
91-22-40451000 |
|
Fax No.: |
91-22-25823415 |
|
|
|
|
Factory 2 : |
Plot No.2 and 2B, Phase-IV, IDA Jeedimetla, Hyderabad - 500055, Andhra
Pradesh, India |
|
Tel. No.: |
91-40-23095241 / 27 |
|
Fax No.: |
91-40-23095302 |
DIRECTORS
As on 28.11.2013
|
Name : |
Mr. Abhishek Kumar |
|
Designation : |
Additional Director |
|
Address : |
Block No.15, Flat No. 296, Lodhi Colony, Delhi – 110003, India |
|
Date of Birth/Age : |
18.12.1981 |
|
Date of Appointment : |
06.02.2013 |
|
DIN No. : |
02738117 |
|
|
|
|
Name : |
Mr. Pernendu Kumar Chakravarthy |
|
Designation : |
Additional Director |
|
Address : |
8/26, First Floor, West Patel Nagar, Delhi – 110008, India |
|
Date of Birth/Age : |
22.01.1959 |
|
Date of Appointment : |
26.10.2013 |
|
DIN No. : |
00446124 |
|
|
|
|
Name : |
Mr. Sidhartha Suri |
|
Designation : |
Nominee Director |
|
Address : |
Flat No. E-300, Reserve Bank Staff Quarters, Maratha Mandir Marg,
Byculla, Mumbai - 400008, Maharashtra, India |
|
Date of Birth/Age : |
13.11.1972 |
|
Date of Appointment : |
06.02.2013 |
|
DIN No.: |
03344278 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.11.2013
|
Names of Shareholders |
|
No. of Shares |
|
Supermax Singapore Pte Limited, Singapore |
|
47599 |
|
Supermax Luxembourg SARL, Luxembourg |
|
1 |
|
Total |
|
47600 |
Allottee as on 10.01.2014
|
Names of Allottee |
|
No. of Shares |
|
Supermax Singapore Pte Limited, Singapore |
|
18927 |
|
Total |
|
18927 |
As on 28.11.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Shaving Products. |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Installed
Capacity |
-- |
361 |
|
Particulars |
Unit |
Actual
Production |
|
Safety Major Blades |
Pkts. |
2000 |
|
Twin type shaving |
Pkts. |
169 |
|
Semi finished (twin type shaving) |
Pkts. |
19 |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by management |
||||||||||||||||||||||||
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||||||||||||||||||||||||
|
Bankers : |
· Punjab National Bank, Thakur Mansion, Thakur Mansion Road, Somajiguda, Hyderabad - 500082, Andhra Pradesh, India · Punjab National Bank, PNB House, Fort, Mumbai - 400001, Maharashtra, India |
||||||||||||||||||||||||
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|
||||||||||||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
B S R and Company Chartered Accountants |
|
Address : |
Building No. 10, 8th Floor, Tower-B, DLF Cyber City, Phase II, Gurgaon – 122002, Haryana, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAIFB4734C |
|
|
|
|
Holding Company: |
Super-Max Singapore Pte Limited, Singapore |
CAPITAL STRUCTURE
After 28.11.2013
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 |
|
|
|
|
|
|
66527 |
Equity Shares |
Rs.10/- each |
Rs. 0.665 Millions |
|
|
|
|
|
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.10/- each |
Rs. 0.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.10/- each |
Rs. 0.500 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
0.500 |
0.500 |
0.500 |
|
(b) Reserves & Surplus |
1516.000 |
1701.900 |
1456.800 |
|
(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) |
1516.500 |
1702.400 |
1457.300 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
710.800 |
711.500 |
712.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
64.800 |
0.000 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
280.100 |
252.400 |
177.600 |
|
Total Non-current
Liabilities (3) |
990.900 |
1028.700 |
889.600 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short term borrowings |
1821.700 |
1573.000 |
1441.900 |
|
(b) Trade payables |
1560.400 |
1807.400 |
1948.400 |
|
(c) Other current liabilities |
938.200 |
628.500 |
2076.800 |
|
(d) Short-term provisions |
165.100 |
134.900 |
7.300 |
|
Total Current
Liabilities (4) |
4485.400 |
4143.800 |
5474.400 |
|
|
|
|
|
|
TOTAL |
6992.800 |
6874.900 |
7821.300 |
|
|
|
|
|
|
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
2226.700 |
2472.300 |
2587.700 |
|
(ii) Intangible Assets |
29.400 |
36.400 |
48.600 |
|
(iii) Capital work-in-progress |
388.400 |
328.500 |
288.300 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
13.700 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current assets |
86.100 |
68.800 |
30.600 |
|
Total Non-Current
Assets |
2730.600 |
2906.000 |
2968.900 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
1004.100 |
1005.400 |
751.200 |
|
(c) Trade receivables |
2572.500 |
2220.000 |
2575.000 |
|
(d) Cash and cash equivalents |
40.300 |
57.400 |
886.800 |
|
(e) Short-term loans and advances |
106.400 |
110.800 |
246.800 |
|
(f) Other current assets |
538.900 |
575.300 |
392.600 |
|
Total Current
Assets |
4262.200 |
3968.900 |
4852.400 |
|
|
|
|
|
|
TOTAL |
6992.800 |
6874.900 |
7821.300 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
7026.400 |
7662.200 |
109.300 |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
Administrative and Other Expenses |
3758.500 |
3342.000 |
NA |
|
|
|
TOTAL |
3758.500 |
3342.000 |
NA |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
3731.100 |
3776.200 |
(21.700) |
|
|
|
|
|
|
|
|
|
|
FINANCIAL
EXPENSES |
273.900 |
354.000 |
20.000 |
|
|
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
275.100 |
278.000 |
8.900 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
3182.100 |
3144.100 |
(41.700) |
|
|
|
|
|
|
|
|
|
|
TAX |
3367.900 |
159.300 |
(13.700) |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
(185.800) |
245.100 |
(28.000) |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
217.100 |
(28.000) |
-- |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
31.200 |
217.100 |
(28.000) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
4086.394 |
3880.900 |
2.022 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
0.000 |
670.400 |
10.051 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(3716.00) |
4902.00 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(2.64)
|
3.20 |
(25.62) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
48.18
|
48.03 |
(0.55) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
2.10
|
1.85 |
(0.03) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.67
|
1.34 |
1.48 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.95
|
0.96 |
0.89 |
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 |
0.500 |
0.500 |
0.500 |
|
Reserves & Surplus |
1456.800 |
1701.900 |
1516.000 |
|
Net
worth |
1,457.300 |
1,702.400 |
1,516.500 |
|
|
|
|
|
|
Long-term borrowings |
712.000 |
711.500 |
710.800 |
|
Short term borrowings |
1441.900 |
1573.000 |
1821.700 |
|
Total
borrowings |
2,153.900 |
2,284.500 |
2,532.500 |
|
Debt/Equity
ratio |
1.478 |
1.342 |
1.670 |
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) |
|
Total Income |
109.300 |
7662.200 |
7026.400 |
|
|
|
6,910.247 |
(8.298) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
109.300 |
7662.200 |
7026.400 |
|
Profit |
(28.000) |
245.100 |
(185.800) |
|
|
(25.62%) |
3.20% |
(2.64%) |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF LONG TERM DEBTS
|
Particulars |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
|
|
|
|
|
|
Current maturities of long-term debt |
1.300 |
0.900 |
0.500 |
|
|
|
|
|
|
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 |
Yes |
|
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 |
No |
LITIGATION DETAILS
|
HIGH COURT OF
BOMBAY |
|
CASE DETAILS BENCH: BOMBAY |
|
Presentation
Date:- 16/11/2013 |
|
Lodging No: CPL/779/2013 Filing Date: 16/11/2013 |
|
Petitioner: NEW JACK PRINTING PRESS PRIVATE LIMITED Respondent: SUPERMAX PERSONAL CARE Petn. Adv : BAGLA AND ASSOCIATES PRIVATE
LIMITED District: MUMBAI |
|
Bench: SINGLE Status: Pre-Admission
Category: COMPANY PETITION U/SEC 433,434,439 COMPANIES
ACT Last Date: 31/01/20144
Stage: FOR REJECTION [ORIGINAL SIDE MATTERS] Last Coram: REGISTRAR(OS)/PROTHONOTARY & SR. MASTER |
|
Act: Companies Act and Rules 1956
Under Section: 433(E), 434 and 439 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10362126 |
29/05/2012 |
915,000.00 |
PUNJAB NATIONAL BANK |
PNB HOUSE, FORT, MUMBAI - 400001, MAHARASHTRA, INDIA |
B42234161 |
|
2 |
10289018 |
28/05/2011 * |
2,409,000,000.00 |
PUNJAB NATIONAL BANK |
THAKUR MANSION,
THAKUR MANSION ROAD, SOMAJIGUDA, |
B15035157 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Loans and advances from others |
35.000 |
35.000 |
|
Other loans and advances, others |
675.000 |
675.000 |
|
|
|
|
|
SHORT TERM
BORROWINGS |
|
|
|
Term loans from banks |
242.000 |
17.400 |
|
Intercorporate borrowings |
0.200 |
0.200 |
|
Other loans and advances |
19.200 |
95.200 |
|
Total |
971.400 |
822.800 |
OPERATIONS:
During the period, the company registered a Sales Turnover (including exports) of Rs. 6959.100 Millions (P.Y. 7503.800 Millions) of which domestic sales amounted to Rs. 2532.900 Millions (P.Y. 3375.600 Millions), whereas Export sales were Rs. 4273.500 Millions (P.Y. 3921.100 Millions) during the year.
FIXED ASSETS
v
Tangible
Assets
· Land
· Buildings
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Office Equipment
v
Intangible
Assets
· Goodwill
· Computer Software
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 : |
NYA |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
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.