MIRA
INFORM REPORT
|
Report Date : |
22.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
OLYMPIC OIL INDUSTRIES LIMITED |
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Registered
Office : |
907-910, Meadows, Sahar Plaza, Andheri Kurla Road,
J. B. Nagar, Andheri (East), Mumbai – 400059, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
29.07.1980 |
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Com. Reg. No.: |
11-022912 |
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Capital
Investment / Paid-up Capital : |
Rs.28.540 Millions |
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CIN No.: [Company Identification
No.] |
L15141MH1980PLC022912 |
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|
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMO05496B |
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PAN No.: [Permanent Account No.] |
AAAC05370N |
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Legal Form : |
A Public Limited
Liability Company. The Company’s Shares
are Listed on the Stock Exchanges. |
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Line of Business
: |
Subject is engaged in importing, exporting and trading of
rapeseed meal, yellow peas, red lentils, paper, aluminum foil, agri
commodities, laptops, computers, invertors and coal etc. |
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|
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No. of Employees
: |
Information denied by management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 a moderate track record. Profitability of the company appears to be low. External borrowing of
the company seems to be huge. However, trade relations are Fair. Business is active. Payment terms
are reported as slow but correct. The company can be considered for business dealing with some caution. Note: Subject has been not traded on BSE/NSE in the last 30 Days. |
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 |
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Restricted |
C2 |
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Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
The current downturn
provides an opportunity to push ahead with reforms to accelerate growth, says
the latest India Development Update report released by the World Bank. The
report says that the adverse effects of rupee depreciation are likely to be
offset by the gains in the exports performance due to improved external
competitiveness. Since May this year, the local currency has depreciated
substantially and fell to a record level of Rs 68.85 to a dollar on August, 28.
A stagflation like
situation appears to have arisen as inflation jumped to an eight month high of
6.46 % for the month of September. It is up from 6.10 % in August. Growth
continues to be muted with factory output plunging to 0.6 % in August.
Onion prices have risen nearly 300 % from last September. Vegetables cost
nearly 90 % more than they did last year. Wake up to the economic contribution
of slum dwellers. They contribute more than 7.5 % to the country’s gross
domestic product, according to a recent study conducted in 50 top cities.
136000 estimated
number of jobs created during the second quarter of the current financial year.
50000 estimated number of additional jobs in the field of corporate social
responsibility in the coming years.
The International Finance
Corporation expects to come out with its rupee linked bonds issue before the
end of 2013 as a part of its plan to raise $ 1 billion. The Apple iPhone 5c (Rs
41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has been launched
in India from 1st November.
The Land Acquisition
Act to provide just and fair compensation to farmers will come into force from
January 1 next year, said Rural Development Minister Jairam Ramesh. The Act
replaces a 119 year old registration. The Securities and Exchange Board of
India has approved the trading of currency futures on the Bombay Stock
Exchange. The exchange plans to launch the currency futures platform with
advanced trading technology by the end of November.
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 DENIED BY
|
Name : |
Mr. Ronak Jain |
|
Designation : |
Accounts and Finance Department |
|
Contact No.: |
91-22-42634444 |
|
Date : |
18.01.2014 |
LOCATIONS
|
Registered Office : |
907-910, Meadows, Sahar Plaza, Andheri Kurla Road,
J. B. Nagar, Andheri (East), Mumbai – 400059, Maharashtra |
|
Tel. No.: |
91-22-42634444 |
|
Fax No.: |
91-22-28240906 |
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E-Mail : |
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Website : |
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Branch Offices : |
· 410-411, Kalpana Plaza, 24/147 -B Birhana Road, Kanpur – 208001, Uttar Pradesh, India ·
37, Shakespeare Sarani, S. B. Towers, Suit #4,
3rd Floor, Kolkata – 700017, West
Bengal, India ·
#406, 4th Floor, Shail’s Mall, Behind Girish
Cold Drink, ·
C-69-70, Industrial Estate, Phase -1
Okhla, New Delhi – 110020, India ·
Plot
No. 637, Mahanandi Vihar, Near Jagannath Temple, Cuttack – 753004, Odisha,
India ·
28.08.2/B,
1st Floor, Venkateshwara Theater, Suryabagh, Daba Gardens,
Vishkapatanam – 530020, Andhra Pradesh, India |
DIRECTORS
As on 31.03.2013
|
Name : |
Mr. Arvind Srivastva |
|
Designation : |
Chainman and Non – Executive Director |
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|
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|
Name : |
Mr. Sharad Bhartia |
|
Designation : |
Whole Time Director |
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|
Name : |
Mr. Nipun Verma |
|
Designation : |
Whole Time Director (Appointed w.e.f. 1st November, 2012) |
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|
Name : |
Mr. Prasanna Kumar Acharya |
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Designation : |
Independent Director |
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|
Name : |
Mr. Ashok Vadilal Patel |
|
Designation : |
Independent Director |
KEY EXECUTIVES
|
Name : |
A. K. Jain and Company |
|
Designation : |
Company Secretary |
|
Address : |
40 A, 3rd Floor, Shankar Serth Building, 380 JSS Road, Chira Bazar,
Mumbai – 400002, Maharashtra, India |
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|
|
|
Name : |
Mr. Atul Rastogi |
|
Designation : |
Compliance Officer |
SHAREHOLDING PATTERN
As on 31.12.2013
|
Category of Shareholders |
No. of Shares |
Percentage
of Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
548660 |
19.22 |
|
|
548660 |
19.22 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
548660 |
19.22 |
|
(B) Public Shareholding |
|
|
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|
|
|
|
|
|
|
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|
311850 |
10.93 |
|
|
|
|
|
|
160820 |
5.63 |
|
|
1832670 |
64.21 |
|
|
2305340 |
80.78 |
|
Total Public shareholding (B) |
2305340 |
80.78 |
|
Total (A)+(B) |
2854000 |
100.00 |
|
(C) Shares held by Custodians and against which Depository
Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
2854000 |
0.00 |
Individual shareholders holding nominal
share capital up to Rs.0.100 millionBUSINESS DETAILS
|
Line of Business : |
Subject is engaged in importing, exporting and trading of
rapeseed meal, yellow peas, red lentils, paper, aluminum foil, agri commodities,
laptops, computers, invertors and coal etc. |
GENERAL INFORMATION
|
No. of Employees : |
Information denied by management |
|
|
|
|
Bankers : |
·
Bank of India ·
Allahabad Bank ·
India Overseas Bank ·
Oriental Bank of Commerce, Large Corporate Branch, E-Block, Harsha Bhawan, Connaught
Place, Delhi - 110001, India |
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|
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
Shankarlal Jain and Associates Chartered Accountants |
|
Address : |
12, Engineer Building, 265 Princess Street, Mumbai – 400002,
Maharashtra, India |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4000000 |
Equity Shares |
Rs.10/- each |
Rs.40.000 Millions |
|
200 |
|
Rs.100/- each |
Rs.0.020 Million |
|
|
Total |
|
Rs.40.020
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2854000 |
Equity Shares |
Rs.10/- each |
Rs.28.540 Millions |
2854000 Equity Shares are carrying voting rights of 1 share 1 vote
Following are the Shareholder holding more than 5%
of Equity Shares:
|
Name of
Shareholder |
Number
of Shares |
|
Sunil Verma |
280220 |
|
Uday J. Desai |
191640 |
The reconciliation of the number of Shares
Outstanding and the amount of Share Capital as at 31st March, 2013 and 31st
March, 2012 is set below:
|
Equity Shares |
Number
of Shares |
|
Number of Shares
and Share Capital at the beginning |
713500 |
|
Shares issued
during the year as Bonus shares in the ratio of 1:3 |
2140500 |
|
Number of Shares and Share Capital at the
end |
2854000 |
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 |
28.540 |
7.135 |
2.450 |
|
(b) Reserves & Surplus |
35.172 |
23.224 |
1.938 |
|
(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) |
63.712 |
30.359 |
4.388 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.001 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.252 |
0.050 |
0.000 |
|
Total Non-current Liabilities (3) |
0.252 |
0.050 |
0.001 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
278.122 |
197.753 |
0.000 |
|
(b) Trade payables |
9351.074 |
3978.090 |
242.811 |
|
(c) Other current
liabilities |
1933.641 |
33.099 |
267.452 |
|
(d) Short-term provisions |
0.000 |
0.000 |
2.525 |
|
Total Current Liabilities (4) |
11562.837 |
4208.942 |
512.788 |
|
|
|
|
|
|
TOTAL |
11626.801 |
4239.351 |
517.177 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
2.646 |
0.657 |
0.012 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(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) |
0.102 |
0.014 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
2.748 |
0.671 |
0.012 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
10.000 |
0.000 |
0.000 |
|
(b) Inventories |
266.398 |
597.038 |
8.815 |
|
(c) Trade receivables |
190.585 |
555.032 |
45.344 |
|
(d) Cash and cash
equivalents |
10424.534 |
2852.517 |
288.011 |
|
(e) Short-term loans and
advances |
372.705 |
90.476 |
173.265 |
|
(f) Other current assets |
359.831 |
143.617 |
1.730 |
|
Total Current Assets |
11624.053 |
4238.680 |
517.165 |
|
|
|
|
|
|
TOTAL |
11626.801 |
4239.351 |
517.177 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
16816.557 |
6653.078 |
379.511 |
|
|
|
Other Income |
140.821 |
17.636 |
4.143 |
|
|
|
TOTAL
(A) |
16957.378 |
6670.714 |
383.654 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of Stock-in-trade |
16493.796 |
7110.525 |
381.608 |
|
|
|
Changes
in Inventories of Stock-in-Trade |
330.641 |
(588.223) |
(8.815) |
|
|
|
Employee
Benefits Expenses |
4.040 |
1.464 |
0.170 |
|
|
|
Administrative
and Other Expenses |
17.921 |
21.178 |
2.501 |
|
|
|
Extra
Ordinary items |
0.000 |
0.000 |
0.599 |
|
|
|
TOTAL (B) |
16846.398 |
6544.944 |
376.063 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
110.980 |
125.770 |
7.591 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
60.599 |
100.945 |
0.875 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
50.381 |
24.825 |
6.716 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.373 |
0.108 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
50.008 |
24.717 |
6.716 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
16.657 |
8.115 |
2.526 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
33.351 |
16.602 |
4.190 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
18.540 |
1.938 |
(2.252) |
|
|
|
|
|
|
|
|
|
Less |
BONUS
SHARES ISSUED |
21.405 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
30.486 |
18.540 |
1.938 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
|
|
Export realization and advances received against sales |
11295.563 |
6018.036 |
225.199 |
|
|
TOTAL EARNINGS |
11295.563 |
6018.036 |
225.199 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
20.78 |
29.59 |
17.10 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.20 |
0.25 |
1.09 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.30 |
0.37 |
1.77 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.43 |
0.58 |
1.30 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.78 |
0.81 |
1.53 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
4.37 |
6.51 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.01 |
1.01 |
1.01 |
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 |
No |
|
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 |
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 |
---------- |
|
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 |
No |
|
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 |
UNSECURED LOAN:
|
Particulars |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
Short Term Borrowings |
|
|
|
Inter Corporate
Deposits |
278.122 |
197.753 |
|
Total |
278.122 |
197.753 |
NATURE OF OPERATION:
The company is engaged in importing, exporting and trading of rapeseed
meal, yellow peas, red lentils, paper, aluminum foil, agri commodities,
laptops, computers, invertors and coal etc.
PERFORMANCE,
OPERATIONS AND FUTURE PROSPECTS
During the year the Company achieved a turnover of Rs.16210.000 Millions
as compared to Rs.6450.000 Millions in the previous fiscal year 2011-2012
registering an increase of 151.32%.
The Turnover of the Company for the year showed a positive growth. Profit
before interest, depreciation and tax in 2012-13 has increased from Rs.24.700
Millions to Rs.50.000 Millions as compared to the previous fiscal year.
After providing for interest of Rs.65.500 Millions (Rs.100.900 Millions
in previous fiscal) and depreciation of Rs.0.372 Lacs (Rs.0.108 Millions in
previous fiscal), the profit after tax of the Company has increased from
Rs.16.600 Millions to Rs.33.300 Millions as compared to previous year.
During the year, the Company scaled new heights in revenue.
SEGMENT-WISE
PERFORMANCE
The operation of the company consists of a single segment. The company
deals in bulk quantities. Hence, the Accounting Standard on Segment Reporting
(AS-17) issued by Institute of Chartered Accountants of India does not apply.
OUTLOOK
The Indian economy has shown a substantial growth in the year 2012-13
and this will have a positive impact on all the sectors. However, to tap the
full potential of this emerging opportunity, the domestic industry needs to
improve its cost effectiveness, scale of operations and quality/reliability in
order to be able to compete with other global suppliers in the export market.
Commodities prices have maintained their high volatility, making it
difficult to take long term views on prices. The volatility of the rupee
against the dollar has further been a cause of concern for exporters.
They are committed to deliver quality products on a consistent basis and
at competitive prices. Their strategy has been to make optimum utilisation of
the resources, raw materials, timely delivery schedules and finally develop
strong customer relationship and thereby backing there prime motto to be a
Customer driven Company.
Factors that may affect their results of the operations
·
There financial conditions and results of
operations are affected by numerous factors inter alia-
·
Growth of unorganized sector and threat from local
regional players.
·
Change in freight and forwarding charges.
·
General economic and business conditions.
·
There Company's ability to successfully implement
their growth strategy, fluctuation in Exchange rates.
·
Prices of raw materials.
·
Changes in laws and regulations relating to the
industry in which they operate.
·
Changes in political and social conditions in India.
Total Income:
Their revenue has increased from '660.700 Millions (FY 2011-12) to
Rs.16957.300 Millions (FY2012-13) at a rate of 154.21%.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10415817 |
24/12/2013 * |
2,500,000,000.00 |
Oriental Bank of Commerce |
Large Corporate Branch,
E-Block, Harsha Bhawan, Connaught Place, New Delhi, Delhi - 110001, India |
B93580132
|
|
2 |
90237812
|
06/05/1980
|
2,000,000.00
|
THE
UNITED WESTERN BANK LIMITED |
Head
Office 172/4; Raviwar Peth, Jalgaon, Maharashtra, India |
- |
FIXED ASSETS:
·
Computer
·
Office Equipment
·
Furniture and Fixtures
·
Vehicle
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 :
There
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.61.54 |
|
|
1 |
Rs.101.08 |
|
Euro |
1 |
Rs.83.38 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
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 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGESp |
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 |
NO |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
28 |
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.