MIRA INFORM REPORT
|
Report Date : |
16.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
SHREE AMBICA DECOPRINTS PRIVATE LIMITED |
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Registered
Office : |
766, 772, Rakanpur, Sola Santej Road, District: Gandhinagar (North Gujarat) Kalol Taluka – 382721, Gujarat |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
07.08.1992 |
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Com. Reg. No.: |
04-018125 |
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Capital Investment
/ Paid-up Capital : |
Rs. 11.170 Millions |
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CIN No.: [Company Identification
No.] |
U24299GJ1992PTC018125 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
AHMS00145F |
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PAN No.: [Permanent Account No.] |
AABCS5524R |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer, Processor, Designer and Importer of Ceramic Tiles |
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No. of Employees
: |
Information declined by the management
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RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 160000 |
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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. External borrowing of the company seems to be increasing compared to
previous year. The rating also takes into consideration working capital intensive
operations. However, trade relations are reported to be fair. Business is active.
Payment terms are reported to be slow but correct. The company can be considered for business dealing with some
cautions. |
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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating: B+ |
|
Rating Explanation |
Have high risk of default. |
|
Date |
03.04.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating:A4 |
|
Rating Explanation |
Have minimal degree of safety and carry high credit risk. |
|
Date |
03.04.2014 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DECLINED BY
|
Name : |
Ms. Hetalt Shah |
|
Designation : |
Account Department |
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Contact No.: |
91-2764-286962 |
|
Date : |
16.06.2014 |
LOCATIONS
|
Registered Office / Factory : |
766,772, Rakanpur, Sola Santej Road, District: Gandhinagar (North Gujarat) Kalol Taluka – 382721, Gujarat, India |
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Tel. No.: |
91 2764 286961/2/3/4 |
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Fax No.: |
91-2764-286107 |
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E-Mail : |
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Website : |
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Location : |
Owned |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Bhavin Mahasukhlal Shah |
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Designation : |
Managing Director |
|
Address : |
304 |
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Date of Birth/Age : |
12.12.1956 |
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Date of Appointment : |
07.07.1992 |
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DIN No.: |
00049524 |
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Name : |
Mr. Mahasukhlal Nathalal Shah |
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Designation : |
Director |
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Address : |
304 |
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Date of Birth/Age : |
08.01.1939 |
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Date of Appointment : |
07.08.1992 |
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DIN No.: |
00051342 |
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|
Name : |
Mr. Kalpu Bhavin Shah |
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Designation : |
Whole-Time Director |
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Address : |
304 |
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Date of Birth/Age : |
07.12.1968 |
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Date of Appointment : |
01.07.2011 |
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DIN No.: |
00051444 |
KEY EXECUTIVES
|
Name : |
Ms. Hetalt Shah |
|
Designation : |
Account Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
No. of Shares |
%age |
|
Kalpu Bhavin Shah |
482000 |
43.15 |
|
Bhavin Mahasukhlal Shah |
558750 |
50.02 |
|
Sohaan B. Shah |
2250 |
0.20 |
|
Bhavin Mahasukhlal Shah (HUF) |
74000 |
6.62 |
|
Total |
1117000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2013
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.000 |
|
Other top fifty shareholders |
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Processor, Designer and Importer of Ceramic Tiles |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Kashiparekh and Associates Chartered Accountants |
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Address : |
Akshay Appartments, Old High Court Lane Ashram Road, Ahmedabad – 380009, Gujarat, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AADFK5903H |
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Enterprises that exercise significant influence over the company. |
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CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Millions |
|
50000 |
Preferences Shares |
Rs.100/- each |
Rs.5.000 Millions |
|
|
Total |
|
Rs.25.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1117000 |
Equity Shares |
Rs.10/- each |
Rs.11.170
Millions |
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|
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
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|
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|
I.
EQUITY AND LIABILITIES |
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|
|
|
(1)Shareholders' Funds |
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|
|
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(a) Share Capital |
11.170 |
11.170 |
11.170 |
|
(b) Reserves & Surplus |
29.432 |
25.645 |
21.761 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
0.000 |
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
40.602 |
36.815 |
32.931 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
15.320 |
12.764 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
2.435 |
1.715 |
1.528 |
|
(c) Other long term
liabilities |
1.901 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.346 |
0.516 |
0.662 |
|
Total
Non-current Liabilities (3) |
20.002 |
14.995 |
2.190 |
|
|
|
|
|
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
20.362 |
1.200 |
6.436 |
|
(b) Trade payables |
17.429 |
5.057 |
6.810 |
|
(c) Other current liabilities |
10.893 |
8.596 |
17.805 |
|
(d) Short-term provisions |
2.749 |
8.230 |
6.959 |
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Total
Current Liabilities (4) |
51.433 |
23.083 |
38.010 |
|
|
|
|
|
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TOTAL |
112.037 |
74.893 |
73.131 |
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
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|
|
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(a) Fixed Assets |
|
|
|
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(i) Tangible assets |
34.400 |
32.802 |
35.910 |
|
(ii) Intangible Assets |
0.042 |
0.060 |
0.069 |
|
(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) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.970 |
2.602 |
2.283 |
|
(e) Other Non-current assets |
1.080 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
36.492 |
35.464 |
38.262 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
36.051 |
9.322 |
7.644 |
|
(c) Trade receivables |
35.425 |
19.894 |
18.044 |
|
(d) Cash and cash equivalents |
0.851 |
0.775 |
0.548 |
|
(e) Short-term loans and
advances |
3.218 |
9.438 |
8.633 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
75.545 |
39.429 |
34.869 |
|
|
|
|
|
|
TOTAL |
112.037 |
74.893 |
73.131 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
114.229 |
85.654 (Due to Market
Recession) |
100.568 |
|
|
Other Income |
1.647 |
0.513 |
0.640 |
|
|
TOTAL
|
115.876 |
86.167 |
101.208 |
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
Cost of materials consumed |
|
37.404 |
35.847 |
|
|
Changes in position of inventories |
|
(0.605) |
0.166 |
|
|
Employee benefits expenses |
|
20.651 |
16.957 |
|
|
Other expenses |
103.496 |
17.305 |
22.643 |
|
|
Extraordinary Items |
|
(0.359) |
0.000 |
|
|
TOTAL
|
103.496 |
74.396 |
75.613 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
12.380 |
11.771 |
25.595 |
|
|
|
|
|
|
|
|
FINANCIAL
EXPENSES |
3.906 |
2.333 |
0.791 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
8.474 |
9.438 |
24.804 |
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
3.141 |
3.675 |
6.223 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
5.333 |
5.763 |
18.581 |
|
|
|
|
|
|
|
|
TAX |
1.538 |
1.871 |
6.584 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
3.796 |
3.892 |
11.997 |
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
7.058 |
3.166 |
1.545 |
|
|
|
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|
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|
APPROPRIATIONS |
|
|
|
|
|
Transfer to General Reserve |
0.000 |
0.000 |
1.117 |
|
|
Transfer to Expansion Reserve |
0.000 |
0.000 |
9.260 |
|
|
Total
|
0.000 |
0.000 |
10.377 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
10.854 |
7.058 |
3.165 |
|
|
|
|
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|
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IMPORTS |
|
|
|
|
|
Raw Materials |
6.382 |
5.043 |
5.966 |
|
|
Stores & Spares |
0.440 |
1.642 |
1.259 |
|
|
Capital Goods |
2.314 |
0.000 |
9.541 |
|
|
TOTAL
IMPORTS |
9.136 |
6.685 |
16.766 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
3.40 |
3.48 |
10.74 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
3.28 |
4.52 |
11.85 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.67 |
6.73 |
18.48 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.76 |
7.69 |
25.41 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.13 |
0.16 |
0.56 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.88 |
0.38 |
0.20 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.47 |
1.71 |
0.92 |
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 |
11.170 |
11.170 |
11.170 |
|
Reserves & Surplus |
21.761 |
25.645 |
29.432 |
|
Net
worth |
32.931 |
36.815 |
40.602 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
12.764 |
15.320 |
|
Short term borrowings |
6.436 |
1.200 |
20.362 |
|
Total
borrowings |
6.436 |
13.964 |
35.682 |
|
Debt/Equity
ratio |
0.195 |
0.379 |
0.879 |
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 |
100.568 |
85.654 |
114.229 |
|
|
|
(14.830) |
33.361 |
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 |
100.568 |
85.654 |
114.229 |
|
Profit |
11.997 |
3.892 |
3.796 |
|
|
11.93% |
4.54% |
3.32% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS:
|
Particulars |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
||
|
Current maturities of long-term debt |
2.511 |
3.481 |
0.000
|
|
|
|
|
|
|
Total |
2.511 |
3.481 |
0.000
|
|
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 |
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 |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
Note: Registered office of the company has been shifted from B-11, Chinai Baug Estate, Dudheshwar, Ahmedabad – 380004, Gujarat, India to the present address w.e.f. 02.07.2011
THE YEAR UNDER
RETROSPECT
The Company has achieved a turnover of Rs.114.228 Millions as against Rs.85.654 Millions for previous year and earned a profit of Rs. 3.781 Millions after providing interest, depredation and tax as compared to profit of Rs. 3.892 Millions for previous year, showing some decreased In volume of business and overall financial strength of the company.
The company has successfully launched new set up of an allied business vertical or entering into retail as proposed last year- The Company has also been able to consolidate the nature of activities and future marketing strategy with this new and exceptional product line. The company will continue to be a market leader for the high-end products and is enjoying the distinction of being innovative which is helping with increasing popularity and niche customer base with continuous evolution.
The operating profitability will be regained and achieved by continuous research and development work by introducing new range of designs at periodical Intervals of the International quality and selecting appropriate design mix yielding higher profitability,
GROWTH STRATEGY
The core strengths of the company are the popular brand name, excellent standards of Quality awareness, Market leadership and continued trust of the customers with Excellence In design images at par with International standards-
The Design studio is the backbone of the business of the Company. The expert designers of the company continuously develop new designs, create innovating images and offer wide range of selection to customers. The Design studio is fully computerized with requisite multimedia software and fully equipped to develop any product as per [he test of customer. Inspired by the success of the design studio, the company has accelerated the role and research base in the phased manner.
On the strength the company's overall performance and looking at the Inflow of new and repeat orders and optimum use of the productive capacity of the plant, the board has thought It prudent to undertake to enter Into an allied business vertical of direct retail market of high end designer tiles that envisages nearly 1Q0 % capacity utilization.
In addition to this the Directors of the company are paying concentration to constantly update the technology, quality and Introducing latest changes taking place at global level. This has proved to be strategic move for market leadership and Brand name development. The company has also effectively enforced costs controls at every locations and cost centers. The company has also made strategic changes in product mix to make the designs economically affordable. The directors are focusing to maintain acceptable level of safety and ensure that the growth of the company is not hampered by the adverse circumstances,
UNSECURED LOAN
|
PARTICULARS |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
Long-term
Borrowings |
|
|
|
Loan from related parties |
6.250 |
0.000 |
|
Short-term
borrowings |
|
|
|
Loan from related parties |
0.974 |
1.200 |
|
Total |
7.224 |
1.200 |
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10093605 |
17/02/2014 * |
257,440,000.00 |
BANK OF BARODA |
BHADRA BRANCH, NEAR LALDARWAJA, AHMEDABAD, GUJARAT - 380001, INDIA |
B97504153 |
|
2 |
10093699 |
20/02/2014 * |
257,440,000.00 |
BANK OF BARODA |
BHADRA BRANCH, NEAR LALDARWAJA, AHMEDABAD, GUJARAT - 380001, INDIA |
B97386734 |
* Date of charge modification
FIXED ASSETS
- Land
- Factory Building
- Office Building
- Electrical Appliances
- Spares of Machinery
- Dies and Tools
- Plant and Machinery
- Computer
- Furniture
- Electrical Fitting
- 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 :
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.59.48 |
|
|
1 |
Rs.100.93 |
|
Euro |
1 |
Rs.80.71 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
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 |
|
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.