MIRA INFORM REPORT
|
Report Date : |
29.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
ASTRON PAPER AND BOARD MILL LIMITED |
|
|
|
|
Registered
Office : |
D-702, Seventh Floor, Ganesh Meriden, Opposite High Court,
S. G. Highway, Ahmedabad - 380060, Gujarat |
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|
Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
04-063428 |
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Com. Reg. No.: |
29.12.2010 |
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Capital
Investment / Paid-up Capital : |
Rs.270.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U21090GJ2010PLC063428 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMA10343E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAJCA0517E |
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|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer of Craft Paper. |
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|
|
|
No. of Employees
: |
246 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (18) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
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Payment Behaviour : |
Slow and delayed |
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|
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. As claimed by Bipin Patel, Accounts Manager that company has started it
business activities from November 2012. Further he also provided general
information to us. As per available financial of 2013, the rating constrained on account
of delayed in the servicing of its debt obligations due to weak liquidity
profile and accumulated loss incurred by company. Business is active. Payment terms are slow and delayed. The company can be considered for business dealings on safe and
secured 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 – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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
India’s current account deficit for the fiscal third quarter ended
September 2013 narrowed to $4.2 billion or 0.9 % of the gross domestic product
from $31.9 billion or 6.5 % of GDP a year earlier, thanks to a pick-up in
exports and moderation in gold imports. Manufacturing activity and new orders
in India showed their strongest growth in a year in February. The news comes as
a relief after data showed Asia’s third largest economy grew by a
slower-than-expected 4.7 % annually in the three months through December. The
HSBC Manufacturing Purchasing Managers’ Index which gauges the business
activity of India’s factories but not its’ utilities, rose to 52.5 in February,
its highest in a year from 51.4 in January. Overall new orders for factory
goods which rose to a one-year high of 54.9 contributed to the surge. China has
emerged as India’s biggest trading partner in the current financial year
replacing the United Arab Emirates and pushing it to the third spot.
India-China trade has reached $49.5 billion with a 8.7 % share in India’s total
trade. The US comes second at $46 billion with 8.1 % share during the first
nine months of the current financial year.
The Reserve Bank of India has granted an additional nine months to the
public to exchange currency notes printed before 2005 including Rs 500 and Rs
1,000 denominations, pushing the deadline to January 1, 2015. A day before
dates for the Lok Sabha polls were announced, the government decided to hike
interest rates on fixed deposit schemes offered by post offices up to 0.2 per
cent. The new rates will be effective April, 1. The Supreme Court will resume
hearing on March, 11 Nokia’s appeal against a ruling over transferring
ownership of its local mobile phones plant which is the subject of a tax
dispute to Microsoft Corp.
In the last days of the current Government, another scam has surfaced.
The defence ministry has ordered a probe into Hindustan Aeronautics Limited’s
contracts from Britain’s Rolls-Royce Holdings worth at least $ 1.2 billion. The
Central Bureau of Investigation will look into allegations that over $80
million was paid in kickbacks in a deal signed in 2011. India has asked Boeing
Co. to find a solution for problems with state-owned Air India’s 787
Dreamliners. The aircraft has experienced a series of malfunctions since its
debut in 2011.
The inflow of smuggled gold
doubled in 2013 following restrictions to curb the supply from official
channels to contain the current account deficit. China surpassed India in the
demand for gold for the first time in 2013 due to liberalization of gold
trading norms by its local governments.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Bank Facilities = D |
|
Rating Explanation |
Lowest credit quality and very low prospect
of recovery |
|
Date |
02.12.2013 |
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 PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Bipin Patel |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-79-40081221 |
|
Date : |
26.03.2014 |
LOCATIONS
|
Registered Office : |
D-702, Seventh Floor, Ganesh Meriden, Opposite High Court,
S. G. Highway, Ahmedabad - 380060, Gujarat |
|
Tel. No.: |
91-79-40081220 / 40081221 |
|
Fax No.: |
91-79-40081220 |
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E-Mail : |
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|
Website : |
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|
Factory : |
Survey No. 52/1-2, 53/1-2, Village Sukhpur, Taluka Halvad,
District Surendranagar - 363330, Gujarat, India |
|
Tel. No.: |
91-2758-250221 / 22 / 23 |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Karshanbhai Hirabhai Patel |
|
Designation : |
Director |
|
Address : |
145, At and Post
Daramali, Taluka- Idar, District Sabarkantha, Daramali -383110, Gujarat,
India |
|
Date of Appointment : |
29.12.2010 |
|
DIN No.: |
00048167 |
|
|
|
|
Name : |
Mr. Ramakant Kantibhai Patel |
|
Designation : |
Director |
|
Address : |
C-25,Sentossa Greenland, Sardar Patel Ring Road, Village
Rakanpur, Taluka Kalol, Gandhinagar – 380060, Gujarat, India |
|
Date of Appointment : |
29.12.2010 |
|
PAN No.: |
AFZPP4430R |
|
DIN No.: |
00233423 |
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|
|
|
Name : |
Mr. Rasiklal Valjibhai Patel |
|
Designation : |
Director |
|
Address : |
Kamdhenu
Apartment, Block No. - 4, Somnath Society, Morvi – 363641, Gujarat, India |
|
Date of Appointment : |
29.12.2010 |
|
PAN No.: |
ABNPP7987M |
|
DIN No.: |
00235194 |
|
|
|
|
Name : |
Mr. Jayantibhai Madhabhai Patel |
|
Designation : |
Director |
|
Address : |
At Narsinhpura,
Taluka Idar, District S.K., Himmatnagar – 383430, Gujarat, India |
|
Date of Appointment : |
29.12.2010 |
|
DIN No.: |
00386797 |
|
|
|
|
Name : |
Mr. Kirit Ghanshyambhai Patel |
|
Designation : |
Director |
|
Address : |
302, Status II
Tower, Behind Manav Mandir, Memnagar, Ahmedabad - 380052, Gujarat, India |
|
Date of Appointment : |
29.12.2010 |
|
PAN No.: |
ACYPP9663Q |
|
DIN No.: |
03353684 |
KEY EXECUTIVES
|
Name : |
Mr. Bipin Patel |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS
As on 30.09.2013
SHAREHOLDING DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2013
|
Category |
Percentage |
|
Bodies corporate |
43.89 |
|
Directors or relatives of Directors |
32.42 |
|
Other top fifty shareholders |
23.69 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Craft Paper. |
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Products : |
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Exports : |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
USA |
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Terms : |
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Selling : |
Cash, L/C and Credit |
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Purchasing : |
Cash, L/C and Credit |
GENERAL INFORMATION
|
Customers : |
Wholesalers, Retailers and Manufacturer |
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No. of Employees : |
246 (Approximately) |
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Bankers : |
Union Bank of India, Ellisbridge Branch, Karaka
Building, Near Natraj Cinema, Ashram Road,
Ahmedabad - 380009, Gujarat, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
S. N. Shah and Associates Chartered Accountants |
|
Address : |
403, "Hemkoot", Opposite B.M. Institute, Near
Nehru Bridge, Ashram Road, Ahmedabad – 380009, Gujarat, India |
|
PAN No.: |
ABFFS8804G |
|
|
|
|
Associate Concerns
/ Entities in which managerial
personnel / relative of key managerial personnel have significant influence : |
CIN No.: L17110GJ1995PLC027025
|
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
27000000 |
Equity Shares |
Rs.10/- each |
Rs.270.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
27000000 |
Equity Shares |
Rs.10/- each |
Rs.270.000 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 |
270.000 |
43.419 |
0.500 |
|
(b) Reserves & Surplus |
(42.167) |
83.882 |
0.000 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.039 |
0.029 |
45.883 |
|
Total
Shareholders’ Funds (1) + (2) |
227.872 |
127.330 |
46.383 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
526.231 |
288.861 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
21.726 |
0.285 |
0.000 |
|
(c) Other long term
liabilities |
0.060 |
0.060 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
548.017 |
289.206 |
0.000 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
112.982 |
8.070 |
0.000 |
|
(b) Trade
payables |
135.781 |
20.196 |
0.049 |
|
(c) Other current
liabilities |
84.478 |
58.589 |
1.093 |
|
(d) Short-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
333.241 |
86.855 |
1.142 |
|
|
|
|
|
|
TOTAL |
1,109.130 |
503.391 |
47.525 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
653.016 |
41.658 |
4.528 |
|
(ii)
Intangible Assets |
0.164 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
11.788 |
361.835 |
7.476 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.300 |
0.300 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.820 |
0.000 |
|
(d) Long-term Loan and Advances |
0.071 |
0.000 |
0.040 |
|
(e) Other Non-current
assets |
1.189 |
0.506 |
0.000 |
|
Total Non-Current
Assets |
666.528 |
405.119 |
12.044 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
142.655 |
20.982 |
0.000 |
|
(c) Trade
receivables |
150.527 |
0.000 |
0.000 |
|
(d) Cash
and cash equivalents |
69.994 |
13.205 |
5.782 |
|
(e)
Short-term loans and advances |
79.029 |
63.958 |
29.699 |
|
(f) Other
current assets |
0.397 |
0.127 |
0.000 |
|
Total
Current Assets |
442.602 |
98.272 |
35.481 |
|
|
|
|
|
|
TOTAL |
1,109.130 |
503.391 |
47.525 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
265.935 |
0.000 |
0.000 |
|
|
|
|
Other Income |
1.339 |
0.168 |
0.000 |
|
|
|
|
TOTAL (A) |
267.274 |
0.168 |
0.000 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
Cost of Materials Consumed |
212.676 |
0.000 |
0.000 |
|
|
|
|
Changes in Inventories of finished goods, work-in-progress and stock-in-trade |
(40.357) |
0.000 |
0.000 |
|
|
|
|
Employee Benefits Expenses |
15.499 |
0.000 |
0.000 |
|
|
|
|
Other Expenses |
61.887 |
1.312 |
0.000 |
|
|
|
|
TOTAL (B) |
249.705 |
1.312 |
0.000 |
|
|
|
|
|
|
|
||
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
17.569 |
(1.144) |
0.000 |
||
|
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES (D) |
25.949 |
0.002 |
0.000 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
(8.380) |
(1.146) |
0.000 |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/
AMORTISATION (F) |
10.468 |
0.525 |
0.000 |
||
|
|
|
|
|
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||
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
(18.848) |
(1.671) |
0.000 |
||
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|
|
|
||
|
Less |
TAX (H) |
21.441 |
0.285 |
0.000 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
(40.289) |
(1.956) |
0.000 |
||
|
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|
|
|
|
||
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(1.956) |
0.000 |
0.000 |
||
|
|
|
|
|
|
||
|
|
EXCESS
DEPRECIATION OF PREVIOUS YEAR W/BACK |
0.077 |
0.000 |
0.000 |
||
|
|
|
|
|
|
||
|
|
BALANCE CARRIED
TO THE B/S |
(42.168) |
(1.956) |
0.000 |
||
|
|
|
|
|
|
||
|
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EARNINGS IN
FOREIGN CURRENCY |
|
|
|
||
|
|
|
Claims Against Imported Waste Paper |
1.075 |
0.000 |
0.000 |
|
|
|
TOTAL EARNINGS |
1.075 |
0.000 |
0.000 |
||
|
|
|
|
|
|
||
|
|
Earnings Per
Share (Rs.) |
(2.86) |
(0.76) |
0.00 |
||
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(15.07) |
(1164.29) |
0.00 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(7.09) |
0.00 |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(1.72) |
(1.19) |
0.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.08) |
(0.01) |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.81 |
2.33 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.33 |
1.13 |
31.07 |
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 |
0.500 |
43.419 |
270.000 |
|
Reserves & Surplus |
0.000 |
83.882 |
(42.167) |
|
Share Application money
pending allotment |
45.883 |
0.029 |
0.039 |
|
Net
worth |
46.383 |
127.330 |
227.872 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
288.861 |
526.231 |
|
Short term borrowings |
0.000 |
8.070 |
112.982 |
|
Total
borrowings |
0.000 |
296.931 |
639.213 |
|
Debt/Equity
ratio |
0.000 |
2.332 |
2.805 |
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 |
0.000 |
0.000 |
265.935 |
|
|
|
|
|
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
|
0.000 |
0.000 |
265.935 |
|
Profit |
0.000 |
(1.956) |
(40.289) |
|
|
|
|
(15.15%) |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----------- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
---------- |
|
22] |
Litigations that the firm
/ promoter involved in |
---------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
---------- |
|
26] |
Buyer visit details |
---------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
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 |
Yes |
UNSECURED LOANS:
|
Particulars |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
Long Term Borrowings |
|
|
|
Intercorporate borrowings |
48.534 |
23.355 |
|
Deposits |
38.500 |
0.000 |
|
Loans and advances from directors |
25.771 |
12.776 |
|
Loans and advances from others |
24.477 |
3.729 |
|
Loans taken for fixed assets |
3.308 |
3.072 |
|
Short Term Borrowings |
|
|
|
Loans and advances from related parties |
0.000 |
8.070 |
|
Total |
140.590 |
51.002 |
OPERATIONS:
The company within limited period of operations during the year could
achieve the net turnover of Rs.265.935 Millions which signals that the company
has wide scope of its business in the coming years. The Directors are
continuously looking for avenues for future growth of the Company.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10483055 |
07/02/2014 |
30,000,000.00 |
UNION BANK OF INDIA |
Ellisbridge Branch, Karaka Building, Near Natraj Cinema, Ashram Road, Ahmedabad, Gujarat - 380009, India |
B98669963 |
|
2 |
10312672 |
09/01/2013 * |
799,700,000.00 |
Union Bank of India |
Ellisbridge Branch, Karaka Building No. 1,, Nr. Gujarat Chamber of Com. and Inds, Ashram Road, Ahmedabad, Gujarat - 380009, India |
B67258749 |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
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 records 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.60.10 |
|
|
1 |
Rs.99.85 |
|
Euro |
1 |
Rs.82.58 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
2 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
18 |
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.