|
Report Date : |
10.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
CHEEMA BOILERS LIMITED (w.e.f. 08.09.1999) |
|
|
|
|
Formerly Known
As : |
CHEEMA BOILERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
SCO 523-524, Sector - 70,
Mohali - 160070, Punjab |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
18.05.1999 |
|
|
|
|
Com. Reg. No.: |
16-022583 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.18.207 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29246PB1999PLC022583 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCC4031B |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Boilers and Related Products. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2731000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. There appears dip in profitability of the company during the financial
year 2013. However, the ratings reflect CBL’s healthy financial risk profile,
marked by comfortable capital structure and debt protection metrics, and
diversified and-user segment. Trade relation are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered for business dealings at usual trade
terms and conditions. |
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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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
India’s current
account deficit narrowed in the quarter ended September as government measures to
curb imports, especially gold, kicked in. The current account deficit,
the excess of a country’s imports of goods and services over exports, narrowed
to $ 5.2 billion from $ 21 billion in the year ago period, according to
provisional Reserve Bank of India data. Finance Minister P. Chidambaram said
the CAD for the year will be less than $ 60 billion or 3 per cent of GDP and
the latest data suggests the government may achieve the target.
India was ranked 94th
among the world’s most corrupt nations list. Denmark and New Zealand topped as
the cleanest while Somalia emerged as the most corrupt.
India’s services
sector activity witnessed a moderate improvement in November over the previous
month, even while indicating the fifth successive monthly contraction,
according the HSBC survey.
$53 million
estimated losses suffered by India due to phishing attacks during the third
quarter, according to a study by RSA. India ranks fourth in the list of nations
hit by phishing attacks. The US remained at the top of the charts. Phishing is
the process of acquiring information such as user names, passwords and credit
card details by sending e-mails disguised as official mails.
Rs.4080 million
worth of mobile-phone-based transactions by July 2013 compared to Rs.260
million in September, 2012, according to Deloitte report. The number of
transactions has shot up from 94000 to 701000.
India aims to earn
Rs.400000 million from the bandwidth auction set for January. The merger and
acquisition guidelines, cleared by a group of ministers, will be out before the
auction begins so that players can make informed decisions on the auctions.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
BBB- (Long Term Borrowings) |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
April 08, 2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A3 (Short Term Borrowings) |
|
Rating Explanation |
Moderate degree at safety and high credit
risk. |
|
Date |
April 08, 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 : |
SCO 523-524, Sector - 70,
Mohali - 160070, Punjab, India |
|
Tel. No.: |
91-172-2271691/ 5091790/ 5090487/ 5055666 |
|
Fax No.: |
91-172-5090486/ 5055667 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on: 30.09.2013
|
Name : |
Mr. Harjinder Singh Cheema |
|
Designation : |
Managing director |
|
Address : |
H. No. 2846, PH-7, Mohali, Punjab, India |
|
Date of Birth/Age : |
24.12.1949 |
|
Qualification : |
BE |
|
Date of Appointment : |
18.05.1999 |
|
PAN No.: |
ADSPC5654K |
|
DIN No.: |
00121171 |
|
|
|
|
Name : |
Mr. Balwinder Singh Cheema |
|
Designation : |
Whole-time director |
|
Address : |
H. No. 22, Sector – 69, Mohali, Punjab, India |
|
Date of Birth/Age : |
15.09.1951 |
|
Qualification : |
MA Economics |
|
Date of Appointment : |
18.05.1999 |
|
PAN No.: |
ADKPC9811G |
|
DIN No.: |
00121093 |
|
|
|
|
Name : |
Mr. Apjinder Singh Cheema |
|
Designation : |
Director |
|
Address : |
H. No. 1411, Sector – 68, Mohali, Punjab, India |
|
Date of Birth/Age : |
10.06.1956 |
|
Qualification : |
BSC |
|
Date of Appointment : |
18.05.1999 |
|
PAN No.: |
ADHPC3272G |
|
DIN No.: |
00121155 |
|
|
|
|
Name : |
Mr. Hardeep Singh Cheema |
|
Designation : |
Whole-time director |
|
Address : |
H. No. 22, Sector 69, Mohali, Punjab, India |
|
Date of Birth/Age : |
22.12.1960 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
18.05.1999 |
|
PAN No.: |
ADKPC9812F |
|
DIN No.: |
00283033 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Harjinder Singh Cheema |
|
112623 |
|
Gurinder Kaur |
|
133400 |
|
Sandeep Singh Cheema |
|
25350 |
|
Guramrit Kaur |
|
32400 |
|
Balwinder Singh Cheema |
|
132897 |
|
Harsimran Singh |
|
25575 |
|
Amandeep Kaur |
|
1000 |
|
Sukhwant Kaur |
|
144300 |
|
Apjinder Singh Cheema |
|
150587 |
|
Palvinder Kaur |
|
101660 |
|
Upneet Kaur |
|
27525 |
|
Iqbal Singh |
|
24000 |
|
Hardeep Singh Cheema |
|
150506 |
|
Teginder Kaur |
|
116866 |
|
Satnir Singh |
|
36400 |
|
Amarjeet Kaur |
|
52636 |
|
Cheema Engineering Services
Private Limited, India |
|
393375 |
|
CBL World Hotels Limited, India |
|
119600 |
|
Creative Capital Services Limited, India |
|
10000 |
|
RDP Finance Private Limited, India |
|
20000 |
|
Aglow Financial Services Private Limited, India |
|
10000 |
|
|
|
|
|
Total |
|
1820700 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2013
|
Category |
|
Percentage |
|
Bodies corporate |
|
30.37 |
|
Directors or relatives of directors |
|
69.63 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Boilers and Related Products. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
·
HDFC Bank Limited, HDFC Bank House, Senapti Bapat
Marg, Lower Parel (West), Mumbai – 400013, Maharashtra, India ·
State Bank of India, S.S.I Branch Phase VII,
Mohali, Punjab, India · Punjab National Bank, Phase 7, SAS Nagar, Mohali - 160059, Punjab, India |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Datta Singla and Company Chartered Accountants |
|
Address : |
SCO 2935-36, Sector 22C, Chandigarh -
160022, India |
|
Tel. No.: |
91-172-2707065/ 5086551/ 5086552 |
|
Fax No.: |
91-172-5019550 |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFD8577H |
CAPITAL STRUCTURE
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1820700 |
Equity Shares |
Rs.10/- each |
Rs.18.207 Millions |
|
|
|
|
|
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 |
18.207 |
18.207 |
18.207 |
|
(b) Reserves & Surplus |
664.548 |
637.297 |
574.668 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
50.000 |
|
Total Shareholders’
Funds (1) + (2) |
682.755 |
655.504 |
642.875 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
269.104 |
348.305 |
272.846 |
|
(b) Deferred tax liabilities (Net) |
38.460 |
31.931 |
28.342 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
4.060 |
6.349 |
3.839 |
|
Total Non-current
Liabilities (3) |
311.624 |
386.585 |
305.027 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
227.107 |
257.442 |
234.289 |
|
(b) Trade payables |
113.059 |
128.281 |
300.705 |
|
(c) Other current liabilities |
212.007 |
180.705 |
174.015 |
|
(d) Short-term provisions |
11.827 |
2.628 |
14.345 |
|
Total Current
Liabilities (4) |
564.000 |
569.056 |
723.354 |
|
|
|
|
|
|
TOTAL |
1558.379 |
1611.145 |
1671.256 |
|
|
|
|
|
|
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
555.374 |
554.808 |
350.132 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
71.686 |
|
(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 |
0.000 |
|
(d) Long-term Loan and Advances |
4.674 |
3.763 |
4.135 |
|
(e) Other Non-current assets |
0.117 |
0.158 |
0.246 |
|
Total Non-Current
Assets |
560.165 |
558.729 |
426.199 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
2.000 |
|
(b) Inventories |
618.108 |
693.426 |
717.662 |
|
(c) Trade receivables |
273.964 |
271.972 |
406.407 |
|
(d) Cash and cash equivalents |
17.479 |
14.944 |
38.441 |
|
(e) Short-term loans and advances |
88.663 |
72.074 |
80.547 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current
Assets |
998.214 |
1052.416 |
1245.057 |
|
|
|
|
|
|
TOTAL |
1558.379 |
1611.145 |
1671.256 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1037.747 |
1440.988 |
1882.528 |
|
|
|
Other Income |
2.213 |
18.542 |
6.036 |
|
|
|
TOTAL (A) |
1039.960 |
1459.530 |
1888.564 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
613.511 |
924.737 |
1356.833 |
|
|
|
Purchases of stock-in-trade |
1.386 |
102.587 |
0.000 |
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
2.196 |
(37.149) |
-99.660 |
|
|
|
Employee benefit expense |
116.974 |
103.522 |
117.915 |
|
|
|
Other expenses |
191.512 |
230.213 |
312.062 |
|
|
|
TOTAL (B) |
925.579 |
1323.910 |
1687.150 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
114.381 |
135.620 |
201.414 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
50.352 |
41.318 |
40.083 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
64.029 |
94.302 |
161.331 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
23.422 |
18.391 |
15.781 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
40.607 |
75.911 |
145.550 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
13.831 |
11.996 |
44.900 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
26.776 |
63.915 |
100.650 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
11.586 |
18.634 |
3.573 |
|
|
TOTAL EARNINGS |
11.586 |
18.634 |
3.573 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
1.708 |
0.900 |
2.691 |
|
|
|
Capital Goods and Stores and Spares |
10.294 |
0.000 |
0.000 |
|
|
TOTAL IMPORTS |
12.002 |
0.900 |
2.691 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
14.71 |
35.10 |
55.28 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
2.57 |
4.38 |
5.33 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.91 |
5.27 |
7.73 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.61 |
4.71 |
9.10 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06 |
0.12 |
0.23 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.73 |
0.92 |
0.79 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.77 |
1.85 |
1.72 |
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 |
No |
|
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
|
LITIGATION
DETAILS |
|
|
PUNJAB AND HARYANA HIGH COURT CASE STATUS INFORMATION SYSTEM |
|
|
Case Status : |
PENDING |
|
COMMISSIONER OF INCOME TAX-II, CHANDIGAR Vs. M/S CHEEMA BOILERS LTD., MOHALI |
|
|
Pet's
Adv. : |
URVASHI DHUGGA |
|
Last Listed On
: |
Tuesday, September 04, 2012 |
|
List Type : |
Ordinary |
|
FIR No. : |
NO FIR DETAILS AVAILABLE / NOT A CRIMINAL CASE |
|
Complaint No. : |
NO COMPLAINT DETAILS AVAILABLE |
|
Category : |
STATUTORY APPEALS INCOME TAX |
|
Last Hearing Detail 1 : Before MR. JUSTICE AJAY KUMAR MITTAL ,MR. JUSTICE GURMEET SINGH SANDHAWALIA,--- at Bench Sl. No : 232 |
|
|
Last Hearing Detail
2 : |
NO BENCH MENTIONED |
|
CONNECTED APPLICATION (S) |
CONNECTED MATTER (S)
|
|
Case Updated on: |
Tuesday, September 04, 2012 |
UNSECURED LOAN
(Rs.
In Millions)
|
Particular |
As on 31.03.2013 |
As on 31.03.2012 |
|
LONG-TERM
BORROWINGS |
|
|
|
Term loans from others |
42.928 |
46.554 |
|
Intercorporate deposits |
157.819 |
207.562 |
|
Loans and advances from directors |
3.370 |
1.450 |
|
Loans taken for fixed assets |
2.158 |
2.741 |
|
|
|
|
|
Total |
206.275 |
258.307 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10307661 |
27/07/2011 |
13,500,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B21175708 |
|
2 |
10302613 |
08/07/2011 |
75,000,000.00 |
TATA CAPITAL LIMITED |
ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B18962092 |
|
3 |
10218840 |
12/12/2011 * |
61,400,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W |
B31705932 |
|
4 |
10218841 |
12/12/2011 * |
88,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B31611627 |
|
5 |
10046658 |
26/04/2013 * |
400,000,000.00 |
STATE BANK OF INDIA |
SPECIALISED COMMERCIAL BRANCH, SCO 103-106, SECTOR 17, CHANDIGARH, CHANDIGARH - 160017, INDIA |
B75729186 |
|
6 |
90175664 |
17/01/2005 |
18,500,000.00 |
STATE BANK OF INDIA |
S.S.I BRANCH PHASE VII, MOHALI, PUNJAB, INDIA |
- |
* Date of charge modification
FIXED ASSETS
Tangible Assets
· Land
· Factory Building
· Factory Equipments
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Computer Equipments
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.18 |
|
|
1 |
Rs.102.31 |
|
Euro |
1 |
Rs.84.50 |
INFORMATION DETAILS
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
45 |
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.