MIRA INFORM REPORT
|
Report Date : |
24.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
BILFINGER WATER
TECHNOLOGIES (INDIA) PRIVATE LIMITED (w.e.f. 30.12.2013) |
|
|
|
|
Formerly Known
As : |
JOHNSON SCREENS (INDIA)
PRIVATE LIMITED (w.e.f. 25.09.2008) JOHNSON SCREENS (INDIA)
LIMITED (w.e.f. 25.02.2002) JOHNSON FILTERATION
SYSTEMS (INDIA) LIMITED |
|
|
|
|
Registered
Office : |
Block No.53/P, Khatraj
Char Rasta, Khatraj, Taluka: Kalal, District Gandhinagar – 382 721, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
18.11.1993 |
|
|
|
|
Com. Reg. No.: |
04-020679 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.48.400
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999GJ1993PTC020679 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Water Well Screens and Other Solid and Liquid
Separation Products. |
|
|
|
|
No. of Employees
: |
Information declined by the Management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (53) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 762000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an
established company having good track record. Financial position
of the company is sound. No borrowings recorded by the company. Trade relations
are reported as fair. Business is active. Payment terms are reported to be
regular and as per commitment. The company can
be considered normal 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.
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 DECLINED BY
|
Name : |
Mr. Mahendra Kishanlal Prajapati |
|
Designation : |
Additional Director |
|
Contact No.: |
91-2764-281220 |
|
Date : |
23.06.2014 |
LOCATIONS
|
Registered Office/ Sales Office/ Factory : |
Block No.53/P, Khatraj Char
Rasta, Khatraj, Taluka: Kalal, District Gandhinagar – 382 721, Gujarat, India
|
|
Tel. No.: |
91-2764-281220/ 281007 |
|
Fax No.: |
91-2764-281028 |
|
E-Mail : |
mahendra.prajapati@johnsonscreens.com |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. William Thomas Rouse |
|
Designation : |
Director |
|
Address : |
10470, FM149, Montgomery, Texas, 77316, United States of America |
|
Date of Birth/Age : |
01.10.1956 |
|
Date of Appointment : |
02.09.2003 |
|
DIN No.: |
00404044 |
|
|
|
|
Name : |
Mr. David John Lazzarini |
|
Designation : |
Director |
|
Address : |
7n/39, Castlebar St, Kangaroo Point, Queensland, 4169, Australia |
|
Date of Birth/Age : |
05.01.1959 |
|
Date of Appointment : |
11.11.2011 |
|
DIN No.: |
05251132 |
|
|
|
|
Name : |
Mr. Mahendra Kishanlal Prajapati |
|
Designation : |
Additional Director |
|
Date of Appointment : |
06.01.2014 |
|
DIN No.: |
06755287 |
|
|
|
|
Name : |
Mr. Anil Chhabildas Shah |
|
Designation : |
Additional Director |
|
Date of Appointment : |
13.01.2014 |
|
DIN No.: |
06755286 |
KEY EXECUTIVES
|
Name : |
Mr. Anil Chhabildas Shah |
|
Designation : |
Manager |
|
Address : |
1/4, Bhimanagar, Satellite Road, Satellite Road, Ahmedabad – 380 015,
Gujarat, India |
|
Date of Birth/Age : |
19.03.1961 |
|
Date of Appointment : |
01.04.2009 |
|
PAN No.: |
AMDPS8134L |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Johnson Screens Inc., USA |
|
4839999 |
|
Bilfinger South East Asia Holding Pte. Limited, Singapore |
|
1 |
|
Total
|
|
4840000 |
AS ON 30.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
%20PRIVATE%20LIMITED%20-%20273434_MIRA%2024-Jun-2014_files/image015.gif)
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Water Well Screens and Other Solid and Liquid
Separation Products. |
||||
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|
|
||||
|
Products : |
|
PRODUCTION STATUS [AS ON 31.03.2011]:
CAPACITY
(As certified by the Management)
Licensed Capacity: Not Applicable
Installed Capacity: Mtrs. 100000
Product: Water Well Screens, Oil and Gas Well Screen, Mining Screens and
Industrial Screens
|
Particulars |
Unit |
Actual
Production |
|
Water Well Screens |
Mtrs. |
78653 |
|
Mining and Other Screens |
Nos. |
91569 |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the Management. |
|
|
|
|
Bankers : |
Corporation Bank,
Industrial Finance Branch, Ahmedabad, Gujarat, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S.K. Moondra and Company Chartered Accountants |
|
Address : |
5/2, Nagindas Chambers, Opposite AUDA Office, Ashram Road, Usmanpura,
Ahmedabad – 380 014, Gujarat, India |
|
Tel. No.: |
91-79-27540566 |
|
Mobile No.: |
91-9825024990 |
|
Fax No.: |
91-79-27540566 |
|
E-Mail : |
|
|
PAN No.: |
AAPPM5034P |
|
|
|
|
Holding Company : |
Johnson Screens Inc., USA |
|
|
|
|
Associates : |
|
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
6000000 |
Equity Shares |
Rs.10/- each |
Rs.60.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
4840000 |
Equity Shares |
Rs.10/- each
|
Rs.48.400
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 |
48.400 |
48.400 |
48.400 |
|
(b) Reserves & Surplus |
142.146 |
362.457 |
298.379 |
|
(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) |
190.546 |
410.857 |
346.779 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
7.238 |
7.932 |
8.170 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
7.238 |
7.932 |
8.170 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b)
Trade payables |
45.807 |
56.373 |
57.186 |
|
(c)
Other current liabilities |
6.351 |
13.864 |
5.821 |
|
(d)
Short-term provisions |
3.076 |
1.323 |
28.113 |
|
Total
Current Liabilities (4) |
55.234 |
71.560 |
91.120 |
|
|
|
|
|
|
TOTAL |
253.018 |
490.349 |
446.069 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
38.007 |
44.438 |
34.348 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
3.771 |
2.692 |
0.129 |
|
(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 |
0.000 |
0.000 |
5.952 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
41.778 |
47.130 |
40.429 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
44.172 |
66.888 |
51.089 |
|
(c)
Trade receivables |
76.565 |
128.537 |
110.406 |
|
(d)
Cash and cash equivalents |
85.653 |
99.256 |
120.091 |
|
(e)
Short-term loans and advances |
4.570 |
148.538 |
124.054 |
|
(f)
Other current assets |
0.280 |
0.000 |
0.000 |
|
Total
Current Assets |
211.240 |
443.219 |
405.640 |
|
|
|
|
|
|
TOTAL |
253.018 |
490.349 |
446.069 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
380.281 |
374.521 |
333.335 |
|
|
|
Other Income |
30.901 |
20.654 |
10.803 |
|
|
|
TOTAL (A) |
411.182 |
395.175 |
344.138 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Material Consumed |
185.439 |
206.374 |
260.609 |
|
|
|
Changes in inventories of Finished Goods, WIP and Stock-in-trade |
2.560 |
(0.997) |
|
|
|
|
Employee Benefit Expenses |
25.948 |
24.155 |
|
|
|
|
Other Expenses |
65.288 |
65.304 |
|
|
|
|
TOTAL (B) |
279.235 |
294.836 |
260.609 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
131.947 |
100.339 |
83.529 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.435 |
0.264 |
0.172 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
131.512 |
100.075 |
83.357 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
4.208 |
4.735 |
4.288 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
127.304 |
95.340 |
79.069 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
41.806 |
31.262 |
26.240 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
85.498 |
64.078 |
52.829 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
336.592 |
272.514 |
219.685 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Final Dividend |
263.124 |
0.000 |
0.000 |
|
|
|
Income Tax on Dividend |
42.685 |
0.000 |
0.000 |
|
|
|
Transfer to General Reserve |
33.500 |
0.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
82.781 |
336.592 |
272.514 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of Goods |
154.584 |
115.109 |
NA |
|
|
TOTAL EARNINGS |
154.584 |
115.109 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Material & Components |
7.339 |
56.324 |
|
|
|
|
Capital Goods |
1.454 |
5.581 |
|
|
|
TOTAL IMPORTS |
8.793 |
61.905 |
11.178 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
17.66 |
13.24 |
10.92 |
|
%20PRIVATE%20LIMITED%20-%20273434_MIRA%2024-Jun-2014_files/image003.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20273434_MIRA%2024-Jun-2014_files/image004.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
20.79 |
16.22 |
15.35 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
33.48 |
25.46 |
23.72 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
51.08 |
19.55 |
17.73 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.67 |
0.23 |
0.23 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.82 |
6.19 |
4.45 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns.) |
(INR in Mlns.) |
(INR in Mlns.) |
|
Share Capital |
48.400 |
48.400 |
48.400 |
|
Reserves & Surplus |
298.379 |
362.457 |
142.146 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
346.779 |
410.857 |
190.546 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity ratio |
0.000 |
0.000 |
0.000 |
%20PRIVATE%20LIMITED%20-%20273434_MIRA%2024-Jun-2014_files/image017.gif)
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Revenue from Operations |
333.335 |
374.521 |
380.281 |
|
|
|
12.356 |
1.538 |
%20PRIVATE%20LIMITED%20-%20273434_MIRA%2024-Jun-2014_files/image019.gif)
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Revenue from Operations |
333.335 |
374.521 |
380.281 |
|
Profit |
52.829 |
64.078 |
85.498 |
|
|
15.85% |
17.11% |
22.48% |
%20PRIVATE%20LIMITED%20-%20273434_MIRA%2024-Jun-2014_files/image021.gif)
LOCAL AGENCY FURTHER INFORMATION
Details of Current Maturities of Long Term
Debt: Not Available
|
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 |
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] |
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 |
Note:
No Charges Exist for Company.
CONTINGENT LIABILITIES:
|
Particulars |
31.03.2013 (Rs. in Millions) |
31.03.2012 (Rs. in Millions) |
|
i. In respect of
Bank Guarantees issued by Banks |
10.892 |
9.735 |
|
ii. In respect of
Letter of Credits issued by Banks |
0.134 |
0.000 |
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Electrical Installation
·
Furniture and Fixtures
·
Office Equipment
·
Computer
·
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.60.19 |
|
|
1 |
Rs.102.56 |
|
Euro |
1 |
Rs.81.91 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
53 |
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.