MIRA
INFORM REPORT
|
Report Date : |
07.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
MOLDWELL
PRODUCTS INDIA PRIVATE LIMITED |
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Registered
Office : |
S.F. No.61/3, |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
05.03.2008 |
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Com. Reg. No.: |
18-014276 |
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Capital
Investment / Paid-up Capital : |
Rs.35.206
millions |
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CIN No.: [Company Identification
No.] |
U25209TZ2008PTC014276 |
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TIN No.: |
33492205117 |
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CST No.: |
968252 dated 27.03.2008 |
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PAN No.: [Permanent Account No.] |
AAFCM4320H |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject
is primarily engaged in the manufacture of plastic moulded components,
subject also owns a windmill and the power generated are used for captive
consumption. |
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No. of Employees
: |
250 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
Maximum Credit Limit : |
USD 183000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established
company having moderate track record. As per registrar
of companies the date of balance sheet (i.e. financial filed) is shown as
31.03.2013 but the documents related to financial are not available from any
source. As per available
financial record of 2012, the company has incurred loss from its operations
activities. However, 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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
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
NEWS
The economy grew 4.7 %in 2013/14, marking a
second straight year of sub-5 % growth – the worst slowdown in more than a
quarter of a century. The data was below an official estimate of 4.9 % annual
growth and compared with 4.5 % in the last fiscal year. However, the current
account deficit narrowed sharply to $ 32.4 billion at 1.7 % of gross domestic
product, in 2013/14 from a record high of $ 98.8 billion or 4.7 %, the year
before. A sharp fall in gold imports due to restrictions on overseas purchases
and muted import of capital goods helped shrink the current account deficit.
Online retailer Flipkart
has acquired fashion portal Myntra as it prepares to
battle with the rapidly expanding India arm of the global e-commerce giant
Amazon. The company raised $ 210 million from Russian Investment firm DST
Global which has also invested in companies like Facebook,
Twitter and Alibaba Group.
General Motors will start exporting vehicles
from its Talegaon plant near Pune
in the second half of 2014. GM was one of the few global carmakers that was
using its India plant only for the domestic market.
Google has overtaken Apple as the world’s top
brand in terms of value, according to global market research agency Millward Brown. Google’s brand value shot up 40 % in a year
to $ 158.84 billion. The top 10 of the 100 slots were dominated by US
companies.
Infosys lost another heavy weight when B G Srinivas,
a board member put in his papers. He is the third CEO-hopeful to quit after
Chairman N R Narayana Murthy’s return to the company
– Ashok Vemuri and V Balakrishnan being the other two. While Vemuri
went on to lead IGate, Balakrishnan
joined politics.
Naresh Goyal – promoted Jet Airways posted biggest
quarterly loss – Rs.2153.37 crore – in the three
months ended March 31, mainly because it has been offering discounts to
passengers to fill planes.
William S Pinckney – Chairman and CEO of
Amway India was arrested by the Andhra Pradesh Police in connection with a
complaint against the direct selling firm. This is the second time that he has
been taken into custody. A year, ago the Kerala
Police had arrested Pinckney and two company directors on charges of financial
irregularities.
China has told its state-owned enterprises to
sever links with American consulting firms after the United States charged five
Chinese military officers with hacking US companies. China’s action which
targets consultancies like McKinsey & Co. and the Boston Consulting Group,
sterns from fears that the first are providing trade secrets to the US
governments.
India has emerged as a country with some of
the highest unregistered businesses in the world. Indonesia has the maximum
number of shadow businesses, says a study of 68 countries by Imperial College
Business School in London.
Pfizer has abandoned its attempt to buy AstraZeneca for nearly $ 118 billion after the latter
refused an offer of 55 pounds a share.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. J. Raj |
|
Designation : |
Marketing Department |
|
Contact No.: |
91-422-6536412 |
|
Date : |
05.07.2014 |
LOCATIONS
|
Registered Office/ Factory : |
S.F. No.61/3, Thudiyalur Main Road, Sarkarsamakulam,
Kovilpalayam, Off-Sathy Road,
Coimbatore – 641 107, Tamilnadu,
India |
|
Tel. No.: |
91-422-6536412/ 6536415/ 6536422 |
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Fax No.: |
91-422-2653159 |
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E-Mail : |
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Website : |
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Location : |
Owned |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Ramakrishnan Soundararaj |
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Designation : |
Director |
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Address : |
7/26, Kottaipalayam
Post, Coimbatore – 641 110, Tamilnadu,
India |
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Date of Birth/Age : |
30.05.1961 |
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Date of Appointment : |
05.03.2008 |
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DIN No.: |
01094312 |
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Other Directorship:
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Name : |
Soundararaj Geetha |
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Designation : |
Director |
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Address : |
Old No.70, New No.27, Nethaji ST, Pappanaikkanpalayam,
Coimbatore – 641 044, Tamilnadu,
India |
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Date of Birth/Age : |
11.08.1970 |
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Date of Appointment : |
05.03.2008 |
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DIN No.: |
02038415 |
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Other Directorship:
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KEY EXECUTIVES
|
Name : |
Mr. J. Raj |
|
Designation : |
Marketing Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Ramakrishnan Soundararaj |
3446875 |
97.91 |
|
Soundararaj Geetha |
73750 |
2.09 |
|
Total
|
3520625 |
100.00 |
AS ON 30.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject
is primarily engaged in the manufacture of plastic moulded components,
subject also owns a windmill and the power generated are used for captive
consumption. |
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Products : |
·
Pump Parts ·
Beverage Vending Machinery Parts |
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Exports : |
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Products : |
·
Finished Goods |
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Countries : |
·
European Countries |
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Imports : |
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Products : |
·
Raw Materials |
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Countries : |
·
Japan ·
China |
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Terms : |
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Selling : |
Others (Depend) |
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Purchasing : |
Others (Depend) |
GENERAL INFORMATION
|
No. of Employees : |
250 (Approximately) |
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Bankers : |
·
State Bank of India, Medium Enterprises Division, Coimbatore,
Tamilnadu, India ·
Axis Bank Limited, Door No.12/55, Sathyamangalam
Road, Sarkar Samakulam, Coimbatore - 641107, Tamilnadu,
India ·
The Federal Bank Limited, 21 Variety Hall Road, Coimbatore
– 641 001, Tamilnadu, India ·
Small Industries Development Bank of India, Gowtham
Centre, 1055/7, Avinashi Road, Coimbatore
– 641 018, Tamilnadu, India |
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Facilities : |
Notes: LONG-TERM
BORROWINGS i) All the above loans are
Rupee Loans. ii) There is no default
in repayment of principal loan or interest thereon. iii) Term Loans from
Financial Institutions are repayable as follows: (Rs.
in millions)
iv) Term Loans are secured
by the first charge over the movable assets purchased/acquired under the loan
and extension of charge over other movable assets and equity mortgage over
the immovable property of the Company at Tirunelveli
District and the personal guarantee of the Directors. v) Term Loan from Private
Bank is secured on the asset acquired and is repayable in EMIs
of Rs.26197 for 36 months starting from December 2010. Interest is monthly
compounding. vi) Current Portion of the
Long Term Borrowings are shown under 'Other Current Liabilities '. SHORT-TERM BORROWINGS i) There is no default in
repayment of principal loan or interest thereon. ii) Cash Credit from
banks are secured by (a) Hypothecation by way of First charge in favour of
Bank all stocks, book debts and other current assets of the Company both
present and future., (b) Hypothecation by way of First charge in favour of
the Bank all the movable fixed assets both present and future (excluding
those financed by other banks or financial institutions) and (c) an equity
mortgage over the immovable properties owned by the Director and Company. |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
J. Ram and Company Chartered Accountants |
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Address : |
APT 4-A, B Block, Pioneer Apartments, 1075, Avinashi
Road, Coimbatore – 641 018, Tamilnadu,
India |
|
PAN No.: |
AAGFJ6571K |
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3520625 |
Equity Shares |
Rs.10/- each
|
Rs.35.206
millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1) Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
35.206 |
32.000 |
|
(b) Reserves & Surplus |
|
10.425 |
26.445 |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.099 |
|
Total
Shareholders’ Funds (1) + (2) |
|
45.631 |
58.544 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
|
50.261 |
19.997 |
|
(b) Deferred tax liabilities (Net) |
|
2.116 |
1.522 |
|
(c) Other long
term liabilities |
|
0.000 |
0.000 |
|
(d) Long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
52.377 |
21.519 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
13.057 |
10.203 |
|
(b)
Trade payables |
|
16.002 |
14.761 |
|
(c)
Other current liabilities |
|
11.233 |
10.460 |
|
(d) Short-term
provisions |
|
1.040 |
8.504 |
|
Total Current
Liabilities (4) |
|
41.332 |
43.928 |
|
|
|
|
|
|
TOTAL |
|
139.340 |
123.991 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
79.449 |
65.716 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
11.785 |
8.974 |
|
(e) Other
Non-current assets |
|
0.216 |
0.251 |
|
Total Non-Current
Assets |
|
91.450 |
74.941 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
7.367 |
6.796 |
|
(c)
Trade receivables |
|
35.407 |
38.710 |
|
(d) Cash
and cash equivalents |
|
0.566 |
0.581 |
|
(e)
Short-term loans and advances |
|
4.533 |
2.963 |
|
(f)
Other current assets |
|
0.017 |
0.000 |
|
Total
Current Assets |
|
47.890 |
49.050 |
|
|
|
|
|
|
TOTAL |
|
139.340 |
123.991 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
31.199 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
11.186 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
42.385 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
37.826 |
|
|
2] Unsecured Loans |
|
|
4.337 |
|
|
TOTAL BORROWING |
|
|
42.163 |
|
|
DEFERRED TAX LIABILITIES |
|
|
1.116 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
85.664 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
64.784 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
9.542 |
|
|
Sundry Debtors |
|
|
19.732 |
|
|
Cash & Bank Balances |
|
|
0.565 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
10.124 |
|
Total
Current Assets |
|
|
39.963 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
15.623 |
|
|
Other Current Liabilities |
|
|
1.765 |
|
|
Provisions |
|
|
1.982 |
|
Total
Current Liabilities |
|
|
19.370 |
|
|
Net Current Assets |
|
|
20.593 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.287 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
85.664 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Turnover |
206.427 |
173.261 |
119.700 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
NA |
NA |
NA |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
33.833 |
35.350 |
NA |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
47.253 |
11.164 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
(13.420) |
24.185 |
10.300 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.594 |
8.926 |
3.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
(14.014) |
15.259 |
6.700 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
3.744 |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(3.98) |
4.77 |
2.25 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(9.63)
|
19.51 |
9.83 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.29)
|
0.41 |
0.24 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.39
|
0.52 |
0.99 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.16
|
1.12 |
2.06 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
|
31.03.2011 |
31.03.2012 |
|
|
|
(INR in Mlns.) |
(INR in Mlns.) |
|
Share Capital |
|
32.000 |
35.206 |
|
Reserves & Surplus |
|
26.445 |
10.425 |
|
Share Application money pending allotment |
|
0.099 |
0.000 |
|
Net worth |
|
58.544 |
45.631 |
|
|
|
|
|
|
Long-term borrowings |
|
19.997 |
50.261 |
|
Short term borrowings |
|
10.203 |
13.057 |
|
Total borrowings |
|
30.200 |
63.318 |
|
Debt/Equity ratio |
|
0.516 |
1.388 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Turnover |
119.700 |
173.261 |
206.427 |
|
|
|
44.746 |
19.142 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Turnover |
119.700 |
173.261 |
206.427 |
|
Profit |
6.700 |
15.259 |
-14.014 |
|
|
5.60% |
8.81% |
-6.79% |
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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if applicable) |
Yes |
|
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 |
No |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
|
Unsecured Loans |
31.03.2012 (Rs. in Millions) |
31.03.2011 (Rs. in Millions) |
|
LONG-TERM
BORROWINGS |
|
|
|
Loans
from Directors |
5.919 |
0.089 |
|
Loans
from Others |
7.269 |
7.269 |
|
Total
|
13.188 |
7.358 |
COMPANY OVERVIEW
Subject is a Private Company
domiciled and headquartered in India. It is incorporated under The Companies
Act, 1956. Being a private company, its shares are not listed in any stock
exchange. The Company is primarily engaged in the manufacture of plastic
moulded components. The Company also owns a windmill and the power generated
are used for captive consumption. It caters primarily to domestic markets.
FINANCIAL RESULTS:
The Company has acquired
Windmill and installed it in Tirunelvelli District.
The Windmill was commissioned and is running from September 2011. The Board is
certain that the installation of windmill will contribute towards the power
consumption, captive and otherwise.
The working of the Company
is the current year has resulted in a loss, mainly on account of the
depreciation on windmill.
FIXED ASSETS:
·
Windmill Land
·
Building
·
Office Equipments
·
Furniture and Fitting
·
Vehicles
·
Plant and Machinery
·
Computer
·
Electricals
·
Windmill Energy Converter
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 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.59.79 |
|
|
1 |
Rs.102.66 |
|
Euro |
1 |
Rs.81.32 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared by
: |
SMN |
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 |
- |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
27 |
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.