|
Report Date : |
17.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
ERAWAT PHARMA LIMITED (w.e.f. 17.08.1994) |
|
|
|
|
Formerly Known
As : |
ERAWAT PHARMA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
302, Anu Apartment, 21/22, Shankar Nagar, Indore – 452 018, Madhya
Pradesh |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
01.03.1993 |
|
|
|
|
Com. Reg. No.: |
10-007538 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.54.000
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U02423MP1993PLC007538 |
|
|
|
|
IEC No.: |
1104004011 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BPLE00157D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACE3757F |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Seller of Empty Hard Gelatin Capsules. |
|
|
|
|
No. of Employees
: |
Not Available [We tried to confirm
the number of employees but no one is ready to part any information from the
company management] |
RATING & COMMENTS
|
MIRA’s Rating : |
B (36) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 350000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. Reserves of the company seems to be low. However, the company has achieved better profitability during the
financial year 2013. Trade relations 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.
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.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DECLINED BY
|
Name : |
Mr. Amit Jain |
|
Designation : |
Account Manager |
|
Date : |
15.01.2014 |
LOCATIONS
|
Registered Office : |
302, Anu Apartment, 21/22, Shankar Nagar, Indore – 452 018, Madhya
Pradesh, India |
|
Tel. No.: |
91-731-6659100/ 6659103/ 2566020/ 2556036/ 2566024 91-731-6659107/ 6659108/ 6659103 (Direct Line – Export) |
|
Fax No.: |
91-731-2560929 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
800 sq. ft. (Approximately) |
|
Location : |
Owned |
|
|
|
|
Factory : |
512, Industrial Area No.3, Pithampura, District Dhar – 454 744, Madhya
Pradesh, India |
|
Tel. No.: |
91-7292-256243/ 668010 |
|
E-Mail : |
|
|
Area : |
80000 sq. ft. |
|
Location : |
Leased |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Hemchandra Jain |
|
Designation : |
Managing Director |
|
Address : |
10-11, Utkarsh Vihar, Indore – 452 018, Madhya Pradesh, India |
|
Date of Birth/Age : |
05.07.1950 |
|
Qualification : |
M.E. in Industrial Prod. |
|
Date of Appointment : |
01.03.1993 |
|
DIN No.: |
00051967 |
|
PAN No.: |
ABFPJ3836M |
|
|
|
|
Name : |
Mr. Abhishek Jain |
|
Designation : |
Director |
|
Address : |
302, Anu Apartment, 21/22, Shankar Nagar, Indore – 452 018, Madhya
Pradesh, India |
|
Date of Birth/Age : |
03.01.1977 |
|
Qualification : |
B.E. (Mech.) |
|
Date of Appointment : |
11.07.2003 |
|
DIN No.: |
00969226 |
|
PAN No.: |
ABBPJ7802R |
|
|
|
|
Name : |
Mr. Raj Damodar Kirtani |
|
Designation : |
Director |
|
Address : |
T-101, Friend’s Houses, Kanadia, Ring Road Corner, Indore – 452 016,
Madhya Pradesh, India |
|
Date of Birth/Age : |
28.09.1952 |
|
Qualification : |
B. Com (HONS.), LLM, IFCWA AIAM, AMIMA, DCP |
|
Date of Appointment : |
27.02.1995 |
|
DIN No.: |
00467197 |
|
|
|
|
Name : |
Mr. Vinod Gokulchand Kataria |
|
Designation : |
Director |
|
Address : |
B-402, Samay Apartment, Near Vastrapur Telephone Exchange, Bima Nagar,
Ahmedabad – 380 015, Gujarat, India |
|
Date of Birth/Age : |
30.09.1952 |
|
Qualification : |
B.E. (Electrical) |
|
Date of Appointment : |
27.02.1995 |
|
DIN No.: |
02068086 |
|
|
|
|
Name : |
Mr. Devindar Singh Sodhi |
|
Designation : |
Director |
|
Address : |
403, Satyam-I, Wing-A, Raheja Complex, Malad (East), Mumbai,
Maharashtra, India |
|
Date of Birth/Age : |
27.09.1947 |
|
Qualification : |
B.E. (Mech.) |
|
Date of Appointment : |
30.04.1997 |
|
DIN No.: |
02418573 |
|
|
|
|
Name : |
Mr. Vasant Raj Solanki |
|
Designation : |
Director |
|
Address : |
Deepak Jyoti Tower, B Wing, 13th Floor, Flat No.1306, Parel
Tank Road, Kala Chowki, Mumbai – 400 033, Maharashtra, India |
|
Date of Birth/Age : |
03.06.1950 |
|
Qualification : |
B.E. (Mech.) |
|
Date of Appointment : |
16.08.1994 |
|
DIN No.: |
02438562 |
|
PAN No.: |
AAQPS2904R |
KEY EXECUTIVES
|
Name : |
Mr. Amit Jain |
|
Designation : |
Account Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
SHAREHOLDING DETAILS FILE ATTACHED
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
26.60 |
|
Directors or relatives of Directors |
47.31 |
|
Other top fifty shareholders |
26.09 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Seller of Empty Hard Gelatin Capsules. |
||||
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|
||||
|
Products : |
|
PRODUCTION STATUS (As on 31.03.2012)
|
Particulars |
Installed
Capacity |
Actual
Production |
|
E.H.G. Capsules |
16000 |
23241.08 |
GENERAL INFORMATION
|
No. of Employees
: |
Not Available [We tried to
confirm the number of employees but no one is ready to part any information
from the company management] |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
· Bank of India, Palasia Branch, 575/1, M.G. Road, Indore - 452 001, Madhya Pradesh, India · Industrial Development Bank of India, IDBI Tower, Cuffe Parade, Mumbai – 400 005, Maharashtra, India · ICICI Bank Limited · Export-Import Bank of India, Centre One Building, Floor 21, World Trade Centre, Cuffe Parade, Mumbai – 400 005, Maharashtra, India |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
Mahesh Virendra and Company Chartered Accountants |
|
Address : |
56-A, Saket
Nagar, Kanha Kunj, Near Manish Apartment, Indore, Madhya Pradesh, India |
|
Tel. No.: |
91-731-2565731 |
|
PAN No.: |
ABUPG6753H |
|
|
|
|
Enterprises which are
owned, or have significant influence of or are partners with Key management
personnel and their relatives. |
· AAA CNC Centre · Amit Enterprises · Erawat Engineering Private Limited ·
Padmawati Goods Transport |
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5400000 |
Equity Shares |
Rs.10/- each |
Rs.54.000 millions |
|
200000 |
Preference Shares |
Rs.10/- each |
Rs.2.000 millions |
|
|
Total |
|
Rs.56.000
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5340000 |
Equity Shares |
Rs.10/- each |
Rs.53.400
millions |
|
60000 |
Preference Shares |
Rs.10/- each |
Rs.0.600
million |
|
|
Total |
|
Rs.54.000 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 |
54.000 |
54.000 |
54.000 |
|
(b) Reserves & Surplus |
34.656 |
23.838 |
13.110 |
|
(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) |
88.656 |
77.838 |
67.110 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
40.509 |
17.060 |
5.712 |
|
(b) Deferred tax liabilities (Net) |
9.670 |
8.846 |
9.391 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.752 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
50.931 |
25.906 |
15.103 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
20.266 |
14.883 |
25.089 |
|
(b) Trade payables |
11.084 |
17.656 |
13.612 |
|
(c) Other current
liabilities |
15.134 |
2.650 |
0.000 |
|
(d) Short-term provisions |
4.673 |
4.904 |
3.229 |
|
Total Current Liabilities (4) |
51.157 |
40.093 |
41.930 |
|
|
|
|
|
|
TOTAL |
190.744 |
143.837 |
124.143 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
102.697 |
55.887 |
60.980 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
4.463 |
33.475 |
4.188 |
|
(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 |
24.879 |
7.694 |
0.000 |
|
(e) Other Non-current assets |
0.145 |
0.099 |
1.723 |
|
Total Non-Current Assets |
132.184 |
97.155 |
66.891 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
13.948 |
14.707 |
17.725 |
|
(c) Trade receivables |
34.568 |
27.966 |
32.166 |
|
(d) Cash and cash
equivalents |
2.598 |
0.100 |
0.492 |
|
(e) Short-term loans and
advances |
0.773 |
0.543 |
4.425 |
|
(f) Other current assets |
6.673 |
3.366 |
2.444 |
|
Total Current Assets |
58.560 |
46.682 |
57.252 |
|
|
|
|
|
|
TOTAL |
190.744 |
143.837 |
124.143 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
203.809 |
162.332 |
154.585 |
|
|
|
Other Income |
2.952 |
2.206 |
0.886 |
|
|
|
TOTAL (A) |
206.761 |
164.538 |
155.471 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
100.341 |
73.134 |
76.768 |
|
|
|
Changes in
inventories of finished goods, work-in-progress and stock-in-trade |
(2.755) |
1.390 |
2.273 |
|
|
|
Employee benefit expense |
19.379 |
15.276 |
13.603 |
|
|
|
Other expenses |
61.405 |
49.841 |
48.390 |
|
|
|
Exceptional Items |
0.000 |
0.114 |
0.000 |
|
|
|
TOTAL (B) |
178.370 |
139.755 |
141.034 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
28.391 |
24.783 |
14.437 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
5.276 |
4.233 |
3.494 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
23.115 |
20.550 |
10.943 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
7.001 |
6.325 |
6.110 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
16.114 |
14.225 |
4.833 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
5.296 |
3.497 |
(1.041) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
10.818 |
10.728 |
5.874 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
23.838 |
13.110 |
7.235 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
34.656 |
23.838 |
13.110 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
98.000 |
59.258 |
43.335 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.03 |
2.01 |
1.10 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
5.23
|
6.52 |
3.78 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
7.10
|
8.76 |
3.13 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.65
|
12.89 |
4.03 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18
|
0.18 |
0.07 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.69
|
0.41 |
0.46 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.14
|
1.16 |
1.37 |
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 |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
---------------------- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm / promoter involved in |
---------------------- |
|
23] |
Banking Details |
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 |
No |
CORPORATE INFORMATION
Subject is a Limited Company domeciled in India and incorporated under the provisions of the Companies Act, 1956. The company is engaged in manufacturing and selling of Empty Hard Gelatin Capsules.
OPERATION
The global economy in the Financial Year 2012-2013 improved slowly, but was short on expectations. Financial Year 2012-2013 proved challenging year amidst global economic uncertainties and disturbances in many parts of the world, despite these constraints and challenging Environment Company performed reasonably well and the highlights of the performance are as under:
During the year the Company has achieved a turnover of Rs. 207.784 Millions as compared to Rs. 166.738 Millions in the previous year. The sales of the Company have increased by 24.62%. This year the Company has earned profit of Rs. 10.818 Millions as compared to previous year’s profit of Rs.10.728 Millions. The Company has done expansion and added fifth machine double capacity during the year, The Company has made export of Rs 98.892 Millions during the year.
UNSECURED LOAN
Rs.
In Millions
|
Particular |
As
on 31.03.2013 |
As
on 31.03.2012 |
|
Long-term
borrowings |
|
|
|
Other loans and advances |
0.605 |
1.678 |
|
Total |
0.605 |
1.678 |
|
|
|
|
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10380763 |
28/09/2012 |
32,000,000.00 |
EXPORT-IMPORT BANK OF INDIA |
CENTRE ONE BUILDING, FLOOR 21, WORLD TRADE CENTRE, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
B59768457 |
|
2 |
10114948 |
04/10/2012 * |
40,300,000.00 |
BANK OF INDIA |
PALASIA BRANCH, 575/1 M.G. ROAD, INDORE, MADHYA PRADESH - 452001, INDIA |
B59538082 |
* Date of charge modification
FIXED ASSETS
·
Land
·
Buildings
·
Plant and Machinery
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Computer
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.61.53 |
|
|
1 |
Rs.100.73 |
|
Euro |
1 |
Rs.83.84 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
36 |
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.