MIRA INFORM REPORT
|
Report Date : |
12.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
BAYER MATERIALSCIENCE PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Olympia, 1st Floor, Central Avenue Hiranandani Gardens, powai, Mumbai – 400 076, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
11.09.1995 |
|
|
|
|
Com. Reg. No.: |
11-179724 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 1262.700
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
u19113mh1995ptc179724 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACB2419H |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing is largest producers of polymers and high-performance plastics. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1200000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. The rating is constrained on account of company’s moderate financial
risk profile and continues accumulated loss incurred by the company over a
year. However, trade relations are fair. Business is active. Payment terms
are slow. 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.
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.2,453.2 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.
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. Amit Badrekar |
|
Designation : |
Accounts Officer |
|
Contact No.: |
91-22-25711234 |
|
Date : |
17.06.2014 |
LOCATIONS
|
Registered Office : |
Olympia, 1st Floor, Central Avenue Hiranandani Gardens, powai, Mumbai – 400 076, Maharashtra,
India |
|
Tel. No.: |
91-22-25711234 |
|
Fax No.: |
91-22-25700147 / 25455069 |
|
E-Mail : |
niranjan.ketkar@bayercropscience.com |
|
Website : |
|
|
Area : |
2500 Sq. ft. |
|
Location : |
Owned |
|
|
|
|
Factory: |
Plot No. 1A, Udyog Kendra, Sector Ecotech III, Greater, Noida –
201306, Uttar Pradesh, India |
|
Tel. No.: |
91-120-6763100 |
DIRECTORS
As on: 06.09.2013
|
Name : |
Mr. Stephan Feirdhelm Gerlich |
|
Designation : |
Chairman Cum Managing Director |
|
Address : |
Vinrita, Flat No. 13 and 14, Plot No. 98 of TPS IV, Prof. Almedia
Road, Bandra, Mumbai – 400 050, Maharashtra, India |
|
Date of Birth/Age : |
11.09.1958 |
|
Date of Appointment : |
24.07.2008 |
|
DIN No.: |
00063222 |
|
|
|
|
Name : |
Mr. Darius Cavasji Shroff |
|
Designation : |
Director |
|
Address : |
Moonlight, Flat No. 8, |
|
Date of Birth/Age : |
08.08.1944 |
|
Date of Appointment : |
07.12.2006 |
|
DIN No.: |
00170680 |
|
|
|
|
Name : |
Mr. Subrahmanian Kugalur Ramasesha Venkata |
|
Designation : |
Director |
|
Address : |
8, Rushilla, 17C, |
|
Date of Birth/Age : |
26.09.1933 |
|
Date of Appointment : |
13.06.1996 |
|
DIN No.: |
00005292 |
|
|
|
|
Name : |
Mr. Ajay Durrani |
|
Designation : |
Whole-time director |
|
Address : |
A-11, Upkar Apartment, Mayur Vihar, Phase – 1, Extension, New Delhi –
400050, India |
|
Date of Birth/Age : |
27.11.1965 |
|
Date of Appointment : |
01.09.2012 |
|
PAN No.: |
AAPPD3887R |
|
DIN No.: |
06369307 |
KEY EXECUTIVES
|
Name : |
Mrs. Rashmi Purwar |
|
Designation : |
Secretary |
|
Address : |
A-1/403, Adhyay Building, Kanchanpushp, Complex, Ghodbunder Road,
Thane (West), Mumbai – 400601, Maharashtra, India |
|
Date of Birth/Age : |
21.10.1982 |
|
Date of Appointment : |
05.12.2011 |
|
PAN No.: |
APIPP3508B |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 06.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Bayer AG, |
|
126267652 |
|
Bayer AG, |
|
1 |
|
Bayer AG, |
|
1 |
|
|
|
|
|
Total |
|
126267654 |
Equity Share Break up (Percentage of Total Equity)
As on: 06.09.2013
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
|
|
|
|
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing is largest producers of polymers and high-performance plastics. |
PRODUCTION STATUS (As on 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Thermoplastic Polyurethanes |
Tons |
2500 |
2118 |
|
Polyurethanes |
Tons |
20350 |
10928 |
|
Polycarbonates |
Tons |
7500 |
212 |
|
Coatings,
Adhesives, Specialties |
Tons |
18000 |
-- |
NOTES:
Installed capacity
is on triple shift working basis.
Installed
capacities are as per the certificate given by the Management of the Company on
which auditors have relied as this being technical in nature.
Being multipurpose
plant, installed capacity is variable in view of different product mix produced
in the plant.
Manufacturing
units of Polycarbonates and Coatings, Adhesives, Specialties have commenced the
operations in the current year.
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
|
|
|
|
Bankers : |
Not Available |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse Chartered Accountants |
|
Address : |
Plot Yo Y 14, Block EP, Sector V, Saltlake Electronic Complex, Bidhan Nagar, Kolkata – 700091, India |
|
PAN No.: |
AAEFP5579P |
|
|
|
|
Holding Company : |
Bayer AG, |
|
|
|
|
Subsidiaries : |
·
Bayer Pharmaceuticals Private Limited, |
|
|
|
|
Parties under Common Control : |
|
CAPITAL STRUCTURE
As on: 06.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
160000000 |
Equity Shares |
Rs.10/- each |
Rs. 1600.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
126267654 |
Equity Shares |
Rs.10/- each |
Rs. 1262.700
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
1262.700 |
1002.700 |
1002.700 |
|
(b) Reserves & Surplus |
(937.900) |
(686.600) |
(33.300) |
|
(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) |
324.800 |
316.100 |
969.400 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1139.000 |
1139.000 |
2055.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
13.800 |
10.900 |
7.600 |
|
(d) long-term provisions |
247.100 |
228.300 |
39.900 |
|
Total Non-current
Liabilities (3) |
1399.900 |
1378.200 |
2102.500 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
4068.000 |
2733.200 |
1445.000 |
|
(b) Trade payables |
1719.400 |
1359.100 |
934.600 |
|
(c) Other current liabilities |
400.200 |
1209.900 |
378.100 |
|
(d) Short-term provisions |
18.400 |
14.300 |
13.000 |
|
Total Current
Liabilities (4) |
6206.000 |
5316.500 |
2770.700 |
|
|
|
|
|
|
TOTAL |
7930.700 |
7010.800 |
5842.600 |
|
|
|
|
|
|
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
2454.300 |
2652.400 |
2759.100 |
|
(ii) Intangible Assets |
4.600 |
6.700 |
10.000 |
|
(iii) Capital work-in-progress |
40.400 |
11.900 |
3.800 |
|
(iv) Intangible assets under development |
0.000 |
1.000 |
0.000 |
|
(b) Non-current Investments |
89.500 |
89.500 |
89.500 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
275.800 |
229.900 |
52.800 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
2864.600 |
2991.400 |
2915.200 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
2215.700 |
1622.700 |
955.700 |
|
(c) Trade receivables |
2098.200 |
1522.200 |
1008.600 |
|
(d) Cash and cash equivalents |
109.700 |
383.500 |
458.500 |
|
(e) Short-term loans and advances |
642.500 |
491.000 |
504.600 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
5066.100 |
4019.400 |
2927.400 |
|
|
|
|
|
|
TOTAL |
7930.700 |
7010.800 |
5842.600 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
8812.200 |
5694.000 |
3944.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
NA |
4562.000 |
3514.000 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
NA |
1132.000 |
430.000 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
497.800 |
396.000 |
131.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
NA |
736.000 |
299.000 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
NA |
261.000 |
115.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
502.500 |
475.000 |
184.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
750.300 |
457.000 |
404.000 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.44 |
6.88 |
3.21 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
1.55 |
1.50 |
0.19 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
16.03 |
12.25 |
3.61 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.81 |
0.76 |
1.06 |
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 |
1002.700 |
1002.700 |
1262.700 |
|
Reserves & Surplus |
-33.300 |
-686.600 |
-937.900 |
|
Net
worth |
969.400 |
316.100 |
324.800 |
|
|
|
|
|
|
long-term borrowings |
2055.000 |
1139.000 |
1139.000 |
|
Short term borrowings |
1445.000 |
2733.200 |
4068.000 |
|
Total
borrowings |
3500.000 |
3872.200 |
5207.000 |
|
Debt/Equity
ratio |
3.610 |
12.250 |
16.031 |
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) |
|
Total Income |
3944.000 |
5694.000 |
8812.200 |
|
|
|
44.371 |
54.763 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
3944.000 |
5694.000 |
8812.200 |
|
Profit |
184.000 |
475.000 |
502.500 |
|
|
4.67% |
8.34% |
5.70% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF
LONG-TERM DEBT DETAILS
(Rs. In Millions)
|
Particulars |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
Current maturities of long-term debt |
248.000 |
1028.000 |
112.000 |
|
|
|
|
|
|
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 |
Yes |
|
23] |
Banking Details |
No |
|
24] |
Banking facility details |
No |
|
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 |
CASE DETAILS
|
Lodging No.:- |
ITXAL/1140/2013 |
Filing Date:- |
12/07/2013 |
Reg. No.:- |
ITXA/74/2014 |
Reg. Date:- |
18/01/2014 |
|
Petitioner:- |
THE COMMISSIONER OF INCOME TAX – 10 |
Respondent:- |
M/S. BAYER MATERIALSCIENCE PRIVATE LIMITED |
|
Petn.Adv.:- |
SHRI TEJVEER SINGH () |
Resp.Adv.:- |
0 (0) |
|
District:- |
MUMBAI |
|
|
|
Bench:- |
DIVISION |
|
|
|
Status:- |
Pre-Admission |
Category:- |
TAX APPEALS |
|
Last Date:- |
13/06/2014 |
Stage:- |
FOR REJECTION [ORIGINAL SIDE MATTERS] |
|
Last Coram:- |
ACCORDING TO SITTING LIST ACCORDING TO SITTING LIST |
|
|
|
Act :- |
Income Tax Act, 1961 |
Under Section:- |
260A |
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
As on 31.03.2013 |
As on 31.03.2012 |
|
Long term
borrowings |
|
|
|
Loans and advances from others |
1139.000 |
1139.000 |
|
|
|
|
|
Short term
borrowings |
|
|
|
Working capital loans from banks |
228.000 |
11.200 |
|
Loans repayable on demand |
3840.000 |
70.000 |
|
Interoperate borrowings |
0.000 |
2652.000 |
|
|
|
|
|
Total |
5207.000 |
3872.200 |
OPERATIONS
During the year, the Company has earned a total income including other income of Rs. 8812.200 Millions (previous year Rs. 5693.700 Millions) which includes Rs. 747.000 Millions (previous year Rs. 452.800 Millions) by way of exports. After meeting the operative expenses, the loss before tax works out to Rs. 502.500 Millions (previous year loss before tax Rs. 475.300 Millions). This loss is attributable to finance costs in the current year Rs. 497.800 Millions (previous year Rs. 396.200 Millions).
Note:
The Registered Office of the company has been shifted from Bayer House,
Central Avenue, Hiranandani Gardens, Powai, Mumbai – 400076, Maharashtra, India
to the present address w.e.f. 01.06.2013.
Note: No Charges
Exist for Company
FIXED ASSETS:
- Goodwill
- Software
- Buildings
- Leasehold
Improvements
- Plant and
Machinery
- Office
Equipments
- Computers
- Furniture and
Fixtures
- Vehicles
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. 59.32 |
|
|
1 |
Rs. 99.41 |
|
Euro |
1 |
Rs. 80.32 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
DPH |
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 |
3 |
|
--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 |
YES |
|
--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 |
|
26 |
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.