MIRA INFORM REPORT

 

 

Report Date :

02.05.2014

 

IDENTIFICATION DETAILS

 

Name :

VINMAR OVERSEAS (SINGAPORE) PTE LTD

 

 

Formerly Known As :

VINMAR (SINGAPORE) PTE LTD

 

 

Registered Office :

152, Beach Road, 13 - 02/03, Gateway East, 189721

 

 

Country :

Singapore

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

11.03.1994

 

 

Com. Reg. No.:

199401696-C

 

 

Legal Form :

Private Limited

 

 

Line of Business :

Trading of chemicals, plastics

 

 

No. of Employees :

6 [2014]

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

 

Status :

Moderate

Payment Behaviour :

Slow but correct

Litigation :

Clear

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List – March 31, 2014

 

Country Name

Previous Rating

(31.12.2013)

Current Rating

(31.03.2014)

Singapore

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

High Risk

 

C2

Very High Risk

 

D

 

 

SINGAPORE - ECONOMIC OVERVIEW

 

Singapore has a highly developed and successful free-market economy. It enjoys a remarkably open and corruption-free environment, stable prices, and a per capita GDP higher than that of most developed countries. The economy depends heavily on exports, particularly in consumer electronics, information technology products, pharmaceuticals, and on a growing financial services sector. The economy contracted 0.6% in 2009 as a result of the global financial crisis, but rebounded 15.1% in 2010, on the strength of renewed exports, before slowing to in 2011-13, largely a result of soft demand for exports during the second European recession. Over the longer term, the government hopes to establish a new growth path that focuses on raising productivity. Singapore has attracted major investments in pharmaceuticals and medical technology production and will continue efforts to establish Singapore as Southeast Asia's financial and high-tech hub.

 

Source : CIA

 

 

 

 

EXECUTIVE SUMMARY

 

 

REGISTRATION NO.

:

199401696-C

COMPANY NAME

:

VINMAR OVERSEAS (SINGAPORE) PTE LTD

FORMER NAME

:

VINMAR (SINGAPORE) PTE LTD (24/06/1997)

INCORPORATION DATE

:

11/03/1994

COMPANY STATUS

:

EXIST

LEGAL FORM

:

PRIVATE LIMITED

LISTED STATUS

:

NO

REGISTERED ADDRESS

:

152, BEACH ROAD, 13 - 02/03, GATEWAY EAST, 189721, SINGAPORE.

BUSINESS ADDRESS

:

152 BEACH ROAD #13- 02/03 GATEWAY EAST, 189721, SINGAPORE.

TEL.NO.

:

65-91178755

FAX.NO.

:

N/A

CONTACT PERSON

:

MEHTA DEVANG DWARKADAS ( DIRECTOR )

PRINCIPAL ACTIVITY

:

TRADING OF CHEMICALS, PLASTICS

ISSUED AND PAID UP CAPITAL

:

2,600,000.00 ORDINARY SHARE, OF A VALUE OF SGD 2,600,000.00

SALES

:

USD 9,090,862 [2012]

NET WORTH

:

USD 901,761 [2012]

STAFF STRENGTH

:

6 [2014]

LITIGATION

:

CLEAR

FINANCIAL CONDITION

:

LIMITED

PAYMENT

:

AVERAGE

MANAGEMENT CAPABILITY

:

AVERAGE

COMMERCIAL RISK

:

MODERATE

CURRENCY EXPOSURE

:

MODERATE

GENERAL REPUTATION

:

SATISFACTORY

INDUSTRY OUTLOOK

:

AVERAGE GROWTH

 

HISTORY / BACKGROUND

 

The Subject is a private limited company and is allowed to have a minimum of one and a maximum of forty-nine shareholders. As a private limited company, the Subject must have at least two directors. A private limited company is a separate legal entity from its shareholders. As a separate legal entity, the Subject is capable of owning assets, entering into contracts, sue or be sued by other companies. The liabilities of the shareholders are to the extent of the equity they have taken up and the creditors cannot claim on shareholders' personal assets even if the Subject is insolvent. The Subject is governed by the Companies Act and the company must file its annual returns, together with its financial statements with the Registrar of Companies.

The Subject is principally engaged in the (as a / as an) trading of chemicals, plastics.

 

The immediate holding company of the Subject is KUVERA INTERNATIONAL LTD, a company incorporated in UNITED STATES.

The ultimate holding company of the Subject is VHS FOUNDERS LP, a company incorporated in UNITED STATES.

 

Share Capital History

Date

Issue & Paid Up Capital

28/04/2014

SGD 2,600,000.00

 

The major shareholder(s) of the Subject are shown as follows :

 

Name

Address

IC/PP/Loc No

Shareholding

(%)

KUVERA INTERNATIONAL LTD

16800, IMPERIAL VALLEY DRIVE, SUITE 499, HOUSTON TEXAS, 77060, BAHAMAS.

T11UF5132

2,600,000.00

100.00

---------------

------

2,600,000.00

100.00

============

=====

+ Also Director



DIRECTORS

 

DIRECTOR 1

 

Name Of Subject

:

MEHTA DEVANG DWARKADAS

Address

:

193, MEYER ROAD, 13 - 05, AALTO, 437981, SINGAPORE.

IC / PP No

:

G5172489K

Nationality

:

INDIAN

Date of Appointment

:

14/02/2013

 

DIRECTOR 2

 

Name Of Subject

:

VIJAY GORADIA

Address

:

62, WINDWARD COVE, THE WOODLANDS, TEXAS, 77381, UNITED STATES.

IC / PP No

:

505435411

Nationality

:

AMERICAN

Date of Appointment

:

11/03/1994

 

DIRECTOR 3

 

Name Of Subject

:

SWATANTRA VIJAY JAIN

Address

:

13702 BAYFRONT DR, HOUSTON, TEXAS, 77077, UNITED STATES.

IC / PP No

:

134700511

Nationality

:

AMERICAN

Date of Appointment

:

30/06/1997

 

DIRECTOR 4

 

Name Of Subject

:

HEMANT P.GORADIA

Address

:

35, HOLLYMEAD DR, THE WOODLANDS, TEXAS, 77381, UNITED STATES.

IC / PP No

:

Z2111381

Nationality

:

INDIAN

Date of Appointment

:

11/03/1994

 

 

MANAGEMENT

 

 

1)

Name of Subject

:

MEHTA DEVANG DWARKADAS

Position

:

DIRECTOR

 

 

AUDITOR

 

Auditor

:

PKF-CAP LLP

Auditor' Address

:

N/A

 

Auditor

:

PKF-CAP LLP

Auditor' Address

:

N/A

 

 

COMPANY SECRETARIES

 

1)

Company Secretary

:

KWAN HON KAY @ LAWRENCE KWAN

IC / PP No

:

S0283956C

Address

:

39, TELOK BLANGAH RISE, 09-347, 090039, SINGAPORE.

 

 

BANKING


No Banker found in our databank.



ENCUMBRANCE (S)

 

Charge No

Creation Date

Charge Description

Chargee Name

Total Charge

Status

C201205716

24/05/2012

N/A

WELLS FARGO BANK, NATIONAL ASSOCIATION

USD 460,000,000.00

Unsatisfied

 

 

LEGAL CHECK AGAINST SUBJECT


* A check has been conducted in our databank againt the Subject whether the subject has been involved in any litigation.

No legal action was found in our databank.


No winding up petition was found in our databank.



PAYMENT RECORD

 

 

SOURCES OF RAW MATERIALS:

Local

:

YES

Overseas

:

YES

The Subject refused to provide any name of trade/service supplier and we are unable to conduct any trade enquiry. However, from financial historical data we conclude that :

OVERALL PAYMENT HABIT

Prompt 0-30 Days

[

]

Good 31-60 Days

[

]

Average 61-90 Days

[

X

]

Fair 91-120 Days

[

]

Poor >120 Days

[

]

 

 

CLIENTELE

 

Local

:

YES

Domestic Markets

:

SINGAPORE

Overseas

:

YES

Export Market

:

WORLDWIDE

Credit Term

:

N/A

Payment Mode

:

CHEQUES
TELEGRAPHIC TRANSFER (TT)

 

 

OPERATIONS

 

Goods Traded

:

CHEMICALS, PLASTICS

 

Total Number of Employees:

YEAR

2014

GROUP

N/A

COMPANY

6

 

Branch

:

NO

Other Information:


The Subject is principally engaged in the (as a / as an) trading of chemicals, plastics.


The Subject sells MTBE,Methanol,MEK,DEG,LAB,Acetic Acid,MEG,TEG



CURRENT INVESTIGATION

 

Latest fresh investigations carried out on the Subject indicated that :

Telephone Number Provided By Client

:

N/A

Current Telephone Number

:

65-91178755

Match

:

N/A

Address Provided by Client

:

152 BEACH ROAD 13-02/03 GATEWAY EAST SINGAPORE - 189721

Current Address

:

152 BEACH ROAD #13- 02/03 GATEWAY EAST, 189721, SINGAPORE.

Match

:

YES

 

Other Investigations


On 24th April 2014 we contacted one of the staff from the registered office and he only provided limited information.

He refused to disclose the Subject's fax number.



FINANCIAL ANALYSIS

 

 

Profitability

Turnover

:

Increased

[

803.77%

]

Profit/(Loss) Before Tax

:

Increased

[

(3,129.68%)

]

Return on Shareholder Funds

:

Unfavourable

[

(28.44%)

]

Return on Net Assets

:

Unfavourable

[

(28.44%)

]

The increase in turnover could be due to the Subject adopting an aggressive marketing strategy.Higher losses before tax during the year could be due to the higher operating costs incurred. The Subject's unfavourable returns on shareholders' funds indicate the management's inefficiency in utilising its assets to generate returns.

Working Capital Control

Stock Ratio

:

Nil

[

0 Days

]

Debtor Ratio

:

Favourable

[

10 Days

]

Creditors Ratio

:

Favourable

[

1 Days

]

As the Subject is a service oriented company, the Subject does not need to keep stocks. The favourable debtors' days could be due to the good credit control measures implemented by the Subject. The Subject had a favourable creditors' ratio where the Subject could be taking advantage of the cash discounts and also wanting to maintain goodwill with its creditors.

Liquidity

Liquid Ratio

:

Favourable

[

1.11 Times

]

Current Ratio

:

Unfavourable

[

1.11 Times

]

A minimum liquid ratio of 1 should be maintained by the Subject in order to assure its creditors of its ability to meet short term obligations and the Subject was in a good liquidity position. Thus, we believe the Subject is able to meet all its short term obligations as and when they fall due.

Solvency

Interest Cover

:

Nil

[

0.00 Times

]

Gearing Ratio

:

Favourable

[

0.00 Times

]

The Subject's interest cover was nil as it did not pay any interest during the year. The Subject had no gearing and hence it had virtually no financial risk. The Subject was financed by its shareholders' funds and internally generated fund. During the economic downturn, the Subject, having a zero gearing, will be able to compete better than those which are highly geared in the same industry.

Overall Assessment :

Although the Subject's turnover increased its profits however showed a reverse trend. The losses could be due to the management's failure to maintain its competitiveness in the market. The Subject was in good liquidity position with its total current liabilities well covered by its total current assets. With its current net assets, the Subject should be able to repay its short term obligations. The Subject did not make any interest payment during the year. The Subject was dependent on its shareholders' funds to finance its business needs. The Subject was a zero gearing company, it was solely dependant on its shareholders to provide funds to finance its business. The Subject has good chance of getting loans, if the needs arises.

Overall financial condition of the Subject : LIMITED

 

 

SINGAPORE ECONOMIC / INDUSTRY OUTLOOK

 

 

Major Economic Indicators :

2009

2010

2011

2012

2013

 

Population (Million)

4.98

5.08

5.18

5.31

5.40

Gross Domestic Products ( % )

(0.8)

14.5

4.9

1.3

3.7

Consumer Price Index

0.6

2.8

5.2

4.6

2.4

Total Imports (Million)

356,299.3

423,221.8

459,655.1

474,554.0

466,762.0

Total Exports (Million)

391,118.1

478,840.7

514,741.2

510,329.0

513,391.0

 

Unemployment Rate (%)

3.2

2.2

2.1

2.0

1.9

Tourist Arrival (Million)

9.68

11.64

13.17

14.49

15.46

Hotel Occupancy Rate (%)

75.8

85.6

86.5

86.4

86.3

Cellular Phone Subscriber (Million)

1.37

1.43

1.50

1.52

1.97

 

Registration of New Companies (No.)

26,414

29,798

32,317

31,892

37,288

Registration of New Companies (%)

4.3

12.8

8.5

(1.3)

9.8

Liquidation of Companies (No.)

22,393

15,126

19,005

17,218

17,369

Liquidation of Companies (%)

113.4

(32.5)

25.6

9.4

(5.3)

 

Registration of New Businesses (No.)

26,876

23,978

23,494

24,788

22,893

Registration of New Businesses (%)

8.15

(10.78)

2.02

5.51

1.70

Liquidation of Businesses (No.)

23,552

24,211

23,005

22,489

22,598

Liquidation of Businesses (%)

11.4

2.8

(5)

(2.2)

0.5

 

Bankruptcy Orders (No.)

2,058

1,537

1,527

1,748

1,992

Bankruptcy Orders (%)

(11.5)

(25.3)

(0.7)

14.5

14.0

Bankruptcy Discharges (No.)

3,056

2,252

1,391

1,881

2,584

Bankruptcy Discharges (%)

103.7

(26.3)

(38.2)

35.2

37.4

 

INDUSTRIES ( % of Growth ) :

Agriculture

Production of Principal Crops

3.25

(0.48)

4.25

3.64

-

Fish Supply & Wholesale

(1.93)

(10.5)

12.10

(0.5)

-

 

Manufacturing *

71.5

92.8

100.0

100.3

102.0

Food, Beverages & Tobacco

90.4

96.4

100.0

103.5

103.5

Textiles

145.9

122.1

100.0

104.0

87.1

Wearing Apparel

211.0

123.3

100.0

92.1

77.8

Leather Products & Footwear

79.5

81.8

100.0

98.6

109.8

Wood & Wood Products

101.4

104.0

100.0

95.5

107.4

Paper & Paper Products

95.4

106.1

100.0

97.4

103.2

Printing & Media

100.9

103.5

100.0

93.0

86.1

Crude Oil Refineries

96.4

95.6

100.0

99.4

93.5

Chemical & Chemical Products

80.3

97.6

100.0

100.5

104.1

Pharmaceutical Products

49.1

75.3

100.0

109.7

107.2

Rubber & Plastic Products

101.2

112.3

100.0

96.5

92.9

Non-metallic Mineral

91.9

92.5

100.0

98.2

97.6

Basic Metals

92.6

102.2

100.0

90.6

76.5

Fabricated Metal Products

90.8

103.6

100.0

104.3

105.1

Machinery & Equipment

57.3

78.5

100.0

112.9

114.5

Electrical Machinery

86.8

124.1

100.0

99.3

108.5

Electronic Components

85.2

113.6

100.0

90.6

94.3

Transport Equipment

96.0

94.0

100.0

106.3

107.5

 

Construction

(36.9)

14.20

20.50

28.70

-

Real Estate

1.4

21.3

25.4

31.9

-

 

Services

Electricity, Gas & Water

1.70

4.00

7.00

6.30

-

Transport, Storage & Communication

3.90

12.80

7.40

5.30

-

Finance & Insurance

(16.4)

(0.4)

8.90

0.50

-

Government Services

4.50

9.70

6.90

6.00

-

Education Services

0.10

(0.9)

(1.4)

0.30

-

 

* Based on Index of Industrial Production (2011 = 100)



INDUSTRY ANALYSIS

 

INDUSTRY :

TRADING

The wholesale and retail trade sector contracted by 1.5% in the fourth quarter of 2012, extending the 0.2% decline in the preceding quarter. For the whole of 2012, the sector declined by 0.7%, reversing the 1.6% growth in 2011. The sector was weighed down primarily by the wholesale trade segment. In 2012, the wholesale trade segment contracted by 1.0%, a reversal from the 1.4% growth in 2011. Growth of the retail trade segment also moderated to 2.0%, from 3.2% in the year 2011.

The domestic wholesale trade index grew by 1.2% in the fourth quarter of 2012, an improvement from the 5.4% decline in the third quarter. This was partly due to an increase in the sales of chemicals & chemical products and ship chandlers & bunkering. For the full year of 2012, the domestic wholesale trade index contracted by 2.2%, extending the 1.7% decline in 2011. The foreign wholesale trade index grew by 8.6% in the fourth quarter, an increase from the 6.6% growth in the third quarter. The expansion was partly due to resilient sales of petroleum & petroleum products. For the whole of 2012, the foreign wholesale trade index expanded by 9.1%, faster than the 4.3% increase in 2011.

In the fourth quarter of 2012, retail sales volume declined by 2.0%, extending the 0.3% decline in the third quarter. Excluding motor vehicles, retail sales volume grew by 0.4%, a slight moderation compared to the 1.5% gain in the third quarter of 2012. The sales volume of motor vehicles fell by 11% in the fourth quarter of 2012, after contracting by 6.1% in the third quarter. The sales of several discretionary items also declined in the fourth quarter. Besides, the sales of optical goods & books in 2012 fell by 3.6%, while the sales of telecommunications apparatus & computers declined by 1.4%.

For 2012 as a whole, retail sales volume grew by 1.3%, compared to the 2.0% expansion in 2011. Excluding motor vehicle sales, the increase in retail sales volume also moderated from 5.4% in 2011 to 1.7% in 2012. Medical goods & toiletries registered the largest increase (9.3%) in sales, followed by telecommunications apparatus & computers (6.9%). By contrast, the sales of watches & jewellery (-2.2%) and optical goods & books (-3.6%) declined.

OVERALL INDUSTRY OUTLOOK : AVERAGE GROWTH



CREDIT RISK EVALUATION & RECOMMENDATION

 


Incorporated in 1994, the Subject is a Private Limited company, focusing on trading of chemicals and plastics. Having been in the industry for over a decade, the Subject has achieved a certain market share and has built up a satisfactory reputation in the market. It should have received supports from its regular customers. Having strong support from its holding company has enabled the Subject to remain competitive despite the challenging business environment. The capital standing of the Subject is fair. With an adequate share capital, the Subject has the potential of expanding its business in future.


Over the years, the Subject has penetrated into both the local and overseas market. The Subject has positioned itself in the global market and is competing in the industry. Its stable clientele base will enable the Subject to further enhance its business in the near term. Being a small company, the Subject's business operation is supported by 6 employees. Overall, we regard that the Subject's management capability is average.


Despite the higher turnover, the Subject suffered pre-tax losses which reflected a highly competitive business environment. The Subject has generated an unfavourable return on shareholders' funds indicating that the management was inefficient in utilising its funds to generate return. The Subject however is in good liquidity position with its current liabilities well covered by it current assets. Hence, it has sufficient working capital to meet its short term financial obligations. Being a zero geared company, the Subject virtually has no financial risk as it is mainly dependent on its internal funds to finance its business.


Without a strong assets backing, the Subject may face difficulties in getting loans for its future expansion and continued growth. The Subject's supplier are from both the local and overseas countries. This will eliminates the risk of dependency on deliveries from a number of key suppliers and insufficient quantities of its raw materials.

The Subject's payment habit is average. With its adequate working capital, the Subject should be able to pay its short term debts.


The industry shows an upward trend and this trend is very likely to sustain in the near terms. Hence, the Subject is expected to benefit from the favourable outlook of the industry. Nonetheless, the Subject should adopt better competitive strategies in order to sustain its business position and to compete with other well established players in the same industry


In view of its limited financial performance, we recommend credit be granted to the Subject with close monitoring.

 



PROFIT AND LOSS ACCOUNT

 

 

THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL REPORTING STANDARDS.

 

Financial Year End

2012-12-31

2011-12-31

2010-12-31

Months

12

12

12

Consolidated Account

Company

Company

Company

Audited Account

YES

YES

YES

Unqualified Auditor's Report (Clean Opinion)

YES

YES

YES

Financial Type

FULL

FULL

FULL

Currency

USD

USD

USD

TURNOVER

9,090,862

1,005,878

-

----------------

----------------

----------------

Total Turnover

9,090,862

1,005,878

-

----------------

----------------

----------------

PROFIT/(LOSS) FROM OPERATIONS

(256,501)

(7,942)

(126,823)

----------------

----------------

----------------

PROFIT/(LOSS) BEFORE TAXATION

(256,501)

(7,942)

(126,823)

Taxation

0

-

-

----------------

----------------

----------------

PROFIT/(LOSS) AFTER TAXATION

(256,501)

(7,942)

(126,823)

----------------

----------------

----------------

RETAINED PROFIT/(LOSS) BROUGHT FORWARD

As previously reported

(633,593)

(625,651)

(498,828)

----------------

----------------

----------------

As restated

(633,593)

(625,651)

(498,828)

----------------

----------------

----------------

PROFIT AVAILABLE FOR APPROPRIATIONS

(890,094)

(633,593)

(625,651)

----------------

----------------

----------------

RETAINED PROFIT/(LOSS) CARRIED FORWARD

(890,094)

(633,593)

(625,651)

=============

=============

=============

 

 

BALANCE SHEET

 

 

 

ASSETS EMPLOYED:

FIXED ASSETS

30,682

61,363

54,217

----------------

----------------

----------------

TOTAL LONG TERM ASSETS

30,682

61,363

54,217

Trade debtors

260,139

93,389

-

Other debtors, deposits & prepayments

48,446

38,143

28,202

Amount due from holding company

569,739

569,739

1,250,000

Amount due from related companies

73,253

534,421

-

Cash & bank balances

7,944,580

97,589

63,589

----------------

----------------

----------------

TOTAL CURRENT ASSETS

8,896,157

1,333,281

1,341,791

----------------

----------------

----------------

TOTAL ASSET

8,926,839

1,394,644

1,396,008

=============

=============

=============

CURRENT LIABILITIES

Trade creditors

29,100

22,269

-

Other creditors & accruals

42,001

6,931

9,328

Amounts owing to holding company

-

-

65,000

Amounts owing to related companies

7,953,977

207,182

155,476

----------------

----------------

----------------

TOTAL CURRENT LIABILITIES

8,025,078

236,382

229,804

----------------

----------------

----------------

NET CURRENT ASSETS/(LIABILITIES)

871,079

1,096,899

1,111,987

----------------

----------------

----------------

TOTAL NET ASSETS

901,761

1,158,262

1,166,204

=============

=============

=============

SHARE CAPITAL

Ordinary share capital

1,791,855

1,791,855

1,791,855

----------------

----------------

----------------

TOTAL SHARE CAPITAL

1,791,855

1,791,855

1,791,855

Retained profit/(loss) carried forward

(890,094)

(633,593)

(625,651)

----------------

----------------

----------------

TOTAL RESERVES

(890,094)

(633,593)

(625,651)

----------------

----------------

----------------

SHAREHOLDERS' FUNDS/EQUITY

901,761

1,158,262

1,166,204

----------------

----------------

----------------

901,761

1,158,262

1,166,204

=============

=============

=============

 

 

FINANCIAL RATIO

 

 

 

TYPES OF FUNDS

Cash

7,944,580

97,589

63,589

Net Liquid Funds

7,944,580

97,589

63,589

Net Liquid Assets

871,079

1,096,899

1,111,987

Net Current Assets/(Liabilities)

871,079

1,096,899

1,111,987

Net Tangible Assets

901,761

1,158,262

1,166,204

Net Monetary Assets

871,079

1,096,899

1,111,987

BALANCE SHEET ITEMS

Total Borrowings

0

0

0

Total Liabilities

8,025,078

236,382

229,804

Total Assets

8,926,839

1,394,644

1,396,008

Net Assets

901,761

1,158,262

1,166,204

Net Assets Backing

901,761

1,158,262

1,166,204

Shareholders' Funds

901,761

1,158,262

1,166,204

Total Share Capital

1,791,855

1,791,855

1,791,855

Total Reserves

(890,094)

(633,593)

(625,651)

LIQUIDITY (Times)

Cash Ratio

0.99

0.41

0.28

Liquid Ratio

1.11

5.64

5.84

Current Ratio

1.11

5.64

5.84

WORKING CAPITAL CONTROL (Days)

Stock Ratio

0

0

0

Debtors Ratio

10

34

0

Creditors Ratio

1

8

0

SOLVENCY RATIOS (Times)

Gearing Ratio

0.00

0.00

0.00

Liabilities Ratio

8.90

0.20

0.20

Times Interest Earned Ratio

0.00

0.00

0.00

Assets Backing Ratio

0.50

0.65

0.65

PERFORMANCE RATIO (%)

Operating Profit Margin

(2.82)

(0.79)

0.00

Net Profit Margin

(2.82)

(0.79)

0.00

Return On Net Assets

(28.44)

(0.69)

(10.87)

Return On Capital Employed

(28.44)

(0.69)

(10.87)

Return On Shareholders' Funds/Equity

(28.44)

(0.69)

(10.87)

Dividend Pay Out Ratio (Times)

0.00

0.00

0.00

NOTES TO ACCOUNTS

Contingent Liabilities

0

0

0




FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.60.34

UK Pound

1

Rs.101.45

Euro

1

Rs.83.31

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

NNA

 

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 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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.