MIRA
INFORM REPORT
|
Report Date : |
10.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
AVI GLOBAL PLAST PRIVATE LIMITED (w.e.f. 27.08.2008) |
|
|
|
|
Formerly Known
As : |
COLLAR PACK PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Survey No. 266/4/5/6, Village Dunetha, Bhenslore, Nanidaman – 396210,
Daman and Diu |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
27.02.2001 |
|
|
|
|
Com. Reg. No.: |
24-002958 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.7.049 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U18101DD2001PTC002958 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
SRTC00182A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCC5843R |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacture, sale and export of Collar bands, Butterfly
and Bones and plastic made accessories for garments and other related plastic
products. |
|
|
|
|
No. of Employees
: |
Information denied by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1110000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was erstwhile started as a partnership concern in 1995 in the
name of “Collar Pack”. Later in 2001 the firm was converted into a private
limited company “Collar Pack Private Limited” and subsequent after structured
restructuring process the name was changed to the present name in FY 2009. The company possesses a moderate financial profile marked by an
adequate networth base and moderate coverage indicators along with high
gearing level due to debt funded capex and high working capital intensity of operations. Management has reported a growth in its sales volume whereas a drastic
dip in its net profitability along with moderate profitability margins during
FY 13. The rating also take into consideration the vulnerability of
profitability to adverse fluctuations in foreign currency. However, trade relations are fair. Business is active. Payment terms
are reported as slow but correct. In view of established track record, the subject 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 – 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 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects positive
impact of the election cycle.
India’s economy may grow
4.7 % in the current financial year, lower than the official estimate of 4.9 %,
Fitch Rating said. The global rating agency expects the economy to pick up in
the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1
million Indian tourists in 2012), Thailand (one million), the United Arab
Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred holidays
hotspots for Indians. The total figure is expected to increase to 1.93 million
by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Fund Based Limits = BB+ |
|
Rating Explanation |
Moderate risk of default and high credit
risk |
|
Date |
September 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Non Fund Based Limits = A4+ |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk |
|
Date |
September 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.
INFORMATION DENIED
Management Non-Cooperative (Tel No.: 91-260-3086700)
LOCATIONS
|
Registered Office/ Factory : |
Survey No. 266/4/5/6, Village Dunetha, Bhenslore, Nanidaman – 396210,
Daman and |
|
Tel. No.: |
91-260-3296626 |
|
Mobile No. : |
91-9820452598 (Mr. Sukhdeep Sethi) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
Bhargava House, 49, Marol Cooperative Industrial Esate, M. V. Road,
Andheri (East), Mumbai – 400059, Maharashtra, India |
|
Tel. No.: |
91-22-39559393 |
|
Fax No.: |
91-22-39559327 |
|
E-Mail : |
DIRECTORS
As on 28.09.2013
|
Name : |
Mr. Bhargava Akhilesh Kameshwar |
|
Designation : |
Director |
|
Address : |
604, Hill N Sea Apartment, 72, Pali Hill, Bandra (West), Mumbai –
400050, |
|
Date of Birth/Age : |
26.07.1975 |
|
Date of Appointment : |
24.09.2004 |
|
DIN No.: |
00380931 |
|
|
|
|
Name : |
Mr. Sukhdeep Singh Sethi |
|
Designation : |
Director |
|
Address : |
B – 305, Sushilabaug, |
|
Date of Birth/Age : |
17.05.1979 |
|
Date of Appointment : |
24.09.2004 |
|
DIN No.: |
00381016 |
|
|
|
|
Name : |
Mr. Kameshwar Bhargava |
|
Designation : |
Director |
|
Address : |
604, Hill N Sea Apartment, 72, Pali Hill, Bandra (West), Mumbai – 400050,
|
|
Date of Birth/Age : |
13.04.1944 |
|
Date of Appointment : |
24.09.2004 |
|
DIN No.: |
02031330 |
MAJOR SHAREHOLDERS
As on 28.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Akhilesh and Kameshwar Prasad Bhargava |
|
80000 |
|
Aveesh Bhargava |
|
14100 |
|
Bhaskar Bhargava |
|
650 |
|
Bhaskar Bhargava – HUF |
|
4500 |
|
Geeta Bhargava |
|
58860 |
|
Kameshwar Prasad Bhargava |
|
60416 |
|
Pooja Bhargava |
|
8650 |
|
Pranay Bhargava |
|
10175 |
|
Rishika Bhargava |
|
14100 |
|
Shashi Bhargava |
|
27000 |
|
Teenal Shethi |
|
23500 |
|
V.P. Bhargava |
|
7050 |
|
Akhilesh Bhargava |
|
367675 |
|
Rajveer Singh Sethi |
|
14100 |
|
Sukhdeep Singh Sethi |
|
14100 |
|
Total |
|
704876 |
Equity Share Break up (Percentage of Total Equity)
As on 28.09.2013
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacture, sale and export of Collar bands, Butterfly
and Bones and plastic made accessories for garments and other related plastic
products. |
GENERAL INFORMATION
|
No. of Employees : |
Information denied by management |
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Bankers : |
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Facilities : |
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|
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
R A Singh and Associates Chartered Accountant |
|
Address : |
25, Sai Baba Shopping Centre, Keshavrao Kadam Marg, Behind Navjivan Society,
Mumbai Central, Mumbai – 400008, Maharashtra, India |
|
Tel. No.: |
91-22-23006009/23006011 |
|
PAN No.: |
AAEPS4107J |
CAPITAL STRUCTURE
As on 28.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
704876 |
Equity Shares |
Rs.10/- each |
Rs.7.049 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 |
7.049 |
7.049 |
7.049 |
|
(b) Reserves & Surplus |
270.406 |
228.856 |
165.009 |
|
(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) |
277.455 |
235.905 |
172.058 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
116.981 |
93.867 |
117.359 |
|
(b) Deferred tax liabilities (Net) |
34.027 |
42.219 |
15.053 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
6.620 |
4.949 |
5.365 |
|
Total Non-current Liabilities (3) |
157.628 |
141.035 |
137.777 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
365.091 |
454.431 |
293.313 |
|
(b) Trade payables |
62.434 |
74.618 |
69.913 |
|
(c) Other current
liabilities |
65.316 |
83.212 |
42.569 |
|
(d) Short-term provisions |
7.417 |
15.283 |
3.230 |
|
Total Current Liabilities (4) |
500.258 |
627.544 |
409.025 |
|
|
|
|
|
|
TOTAL |
935.341 |
1,004.484 |
718.860 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
433.152 |
398.050 |
297.783 |
|
(ii) Intangible Assets |
2.457 |
3.013 |
12.119 |
|
(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 |
5.005 |
5.005 |
0.014 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
4.224 |
20.393 |
4.793 |
|
(e) Other Non-current assets |
0.000 |
0.063 |
0.254 |
|
Total Non-Current Assets |
444.838 |
426.524 |
314.963 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
126.110 |
130.363 |
133.254 |
|
(c) Trade receivables |
269.140 |
255.614 |
218.220 |
|
(d) Cash and cash
equivalents |
34.277 |
171.950 |
22.420 |
|
(e) Short-term loans and
advances |
55.144 |
14.286 |
14.508 |
|
(f) Other current assets |
5.832 |
5.747 |
15.495 |
|
Total Current Assets |
490.503 |
577.960 |
403.897 |
|
|
|
|
|
|
TOTAL |
935.341 |
1,004.484 |
718.860 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
1256.933 |
1048.322 |
985.784 |
|
|
|
|
Other Income |
11.038 |
13.793 |
8.071 |
|
|
|
|
Profit on sale of assets |
0.463 |
104.286 |
0.301 |
|
|
|
|
TOTAL |
1268.434 |
1166.401 |
994.156 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
1140.635 |
1024.222 |
936.640 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
127.799 |
142.179 |
57.516 |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/
AMORTISATION |
65.482 |
35.695 |
43.085 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX |
62.317 |
106.484 |
14.431 |
||
|
|
|
|
|
|
||
|
Less |
TAX |
28.959 |
6.858 |
7.801 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX |
33.358 |
99.626 |
6.630 |
||
|
|
|
|
|
|
||
|
Add |
DEFERRED TAX ON
THE CURRENT YEAR |
8.192 |
(27.166) |
3.344 |
||
|
|
|
|
|
|
||
|
|
BALANCE CARRIED
TO THE B/S |
41.550 |
72.460 |
9.974 |
||
|
|
|
|
|
|
||
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
||
|
|
|
Export Earnings |
88.358 |
105.545 |
NA |
|
|
|
TOTAL EARNINGS |
88.358 |
105.545 |
NA |
||
|
|
|
|
|
|
||
|
|
Earnings Per
Share (Rs.) |
47.32 |
NA |
NA |
||
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
2.63 |
8.54 |
0.67 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.96 |
10.16 |
1.46 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.70 |
10.65 |
2.01 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.22 |
0.45 |
0.08 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.74 |
2.32 |
2.39 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.98 |
0.92 |
0.99 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Share Capital |
7.049 |
7.049 |
7.049 |
|
Reserves & Surplus |
165.009 |
228.856 |
270.406 |
|
Net
worth |
172.058 |
235.905 |
277.455 |
|
|
|
|
|
|
long-term borrowings |
117.359 |
93.867 |
116.981 |
|
Short term borrowings |
293.313 |
454.431 |
365.091 |
|
Total
borrowings |
410.672 |
548.298 |
482.072 |
|
Debt/Equity
ratio |
2.387 |
2.324 |
1.737 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales |
985.784 |
1,048.322 |
1,256.933 |
|
|
|
6.344 |
19.900 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales
|
985.784 |
1,048.322 |
1,256.933 |
|
Profit |
6.630 |
99.626 |
33.358 |
|
|
0.67% |
9.50% |
2.65% |
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 |
---------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
---------- |
|
26] |
Buyer visit details |
---------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
UNSECURED LOANS:
|
Particulars |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
Long Term Borrowings |
|
|
|
Loans and advances from related parties |
22.357 |
11.169 |
|
Other loans and advances |
0.128 |
0.000 |
|
Total |
22.485 |
11.169 |
OPERATIONS AT NEW
SITE
The company’s growths in sales consequent upon establishing/setting of operations at new site have shown marginal improvements of 6.35% over previous year. Due to rising interest and FX rates, the operating profit was under pressure. Our Directors’ are of the view that the performance may improve with better results.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10362445 |
11/06/2012 * |
64,000,000.00 |
State Bank of India |
MIDC, Andheri (East) Branch, Plot No B-1, Central Road, Andheri (East), Mumbai, Maharashtra - 400093, India |
B42597211 |
|
2 |
10108613 |
11/06/2012 * |
565,800,000.00 |
State Bank of India |
MIDC, Andheri (East) Branch, Plot No B-1, Central Road, Andheri (East), Mumbai, Maharashtra - 400093, India |
B42596221 |
|
3 |
90354565 |
10/08/2007 * |
75,655,000.00 |
State Bank of India |
MIDC, Andheri (East) Branch, Plot No B-1, Central Road, Andheri (East), Mumbai, Maharashtra - 400093, India |
A20520219 |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
NEWS:
INTRODUCING "PRIME" PUNNETS FOR FRUITS, VEGATABLES
MUMBAI, INDIA — with organized retailing growing in India,
plastics processors are looking at innovative packaging ideas to keep pace with
the trends.
One example: sheet extruder AVI Global Plast Private Limited
has started trial production of punnets, used to package fruits and vegetables.
“Punnets are small plastic containers being increasingly
used for the packaging of soft fruits and vegetables like grapes, berries,
cherries, mushrooms, etc., in retail outlets, and we have built the capacity to
tap this growing market in India,” said Ankit Bhargava, vice president of
business development. In an interview at the Plastivision trade show in Mumbai,
Bhargava said the Mumbai-based company will start commercial production of
punnets in January.
Until now, most punnets used in India have been imported, he
said.
The company’s plant in Daman, India, makes 1,100 metric
tonnes of PVC film and 400 metric tons of PET sheet per month. The plant
started making PET sheet in 2013.
Bhargava said the company plans to expand its PET sheet
production to 1,000 tonnes a month by the end of 2014.
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.59.06 |
|
|
1 |
Rs.99.35 |
|
Euro |
1 |
Rs.80.62 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
32 |
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.