|
Report Date : |
06.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
ELOFIC INDUSTRIES LIMITED |
|
|
|
|
Formerly Known
As : |
ELOFIC INDUSTRIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
C-44, Friends Colony, New Delhi - 110065 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
02.06.1973 |
|
|
|
|
Com. Reg. No.: |
55-006635 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 25.084
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999DL1973PLC006635 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACE0425C |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Supplier of automobile filter and lubes. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1500000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. The company is performing well. General financial position of the
company is good. Trade relations are reported as fair. Business is active. Payment
terms are reported to be usually correct and as per commitments. 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.
ECGC Country Risk Classification List – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
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
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects
positive impact of the election cycle.
India’s economy may
grow 4.7 % in the current financial year, lower than the official estimate of
4.9 %, Fitch Rating said. The global rating agency expects the economy to pick
up in the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1
million Indian tourists in 2012), Thailand (one million), the United Arab
Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred
holidays hotspots for Indians. The total figure is expected to increase to 1.93
million by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DECLINED BY
|
Name : |
Ms. Anju |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-129-4281000 |
|
Date : |
05.05.2014 |
LOCATIONS
|
Registered Office : |
C-44, Friends Colony, New Delhi – 110065, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office / Factory 1 : |
14/4 Mathura Road, Faridabad – 121003, Haryana, India |
|
Tel. No.: |
91-129-4281000 |
|
Fax No.: |
91-129-4041572 |
|
E-Mail : |
|
|
|
|
|
Factory 2 : |
Plot No. 18 and 19, Sipcot Industrial Area, Phase II, Hosur – 635109,
Tamilnadu, India |
|
|
|
|
Factory 3 : |
Village and Post office, Rajpura The. Nalagarh – 174101, District
Solan, Himachal Pradesh, India |
DIRECTORS
As on 06.09.2013
|
Name : |
Mr. Mohinder Singh Sahni |
|
Designation : |
Whole-time director |
|
Address : |
C-44, Friends Colony, New Delhi – 110065, India |
|
Date of Birth/Age : |
11.12.1930 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
01.04.2006 |
|
DIN No.: |
00067251 |
|
|
|
|
Name : |
Mr. Mohan Bir Sahni |
|
Designation : |
Whole-time director |
|
Address : |
22-B, Ashoka Avenue, Sainik Farms, New Delhi – 110065, India |
|
Date of Birth/Age : |
23.09.1951 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
01.04.2006 |
|
DIN No.: |
00906251 |
|
Pan No.: |
AAQNS2372J |
|
|
|
|
Name : |
Mr. Kanwal Deep Sahni |
|
Designation : |
Whole-time director |
|
Address : |
C-44, Friends Colony, New Delhi – 110065, India |
|
Date of Birth/Age : |
28.02.1958 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
01.04.2006 |
|
DIN No.: |
00901216 |
|
Pan No.: |
AQNPS52380J |
|
|
|
|
|
|
|
Name : |
Mr. Prem Arora |
|
Designation : |
Director |
|
Address : |
H-75, Greater Kailash Part-I, New Delhi – 110048, India |
|
Date of Birth/Age : |
10.10.1959 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
01.04.1998 |
|
DIN No.: |
00106232 |
|
|
|
|
Name : |
Mr. Mohanjit Ahluwalia Singh |
|
Designation : |
Additional director |
|
Address : |
H No. 7-13/ 17 DLF-111, Gurgaon – 122015, Haryana, India |
|
Date of Birth/Age : |
22.03.1950 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
05.03.2008 |
|
DIN No.: |
00515655 |
|
|
|
|
Name : |
Mr. Nirmal Kumar Banerjee |
|
Designation : |
Whole-time director |
|
Address : |
1508, Sector-29, Noida - 201303, Uttar Pradesh, India |
|
Date of Birth/Age : |
08.08.1948 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
15.09.2005 |
|
DIN No.: |
00037804 |
|
Pan No.: |
AAJPB6703C |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
92.23 |
|
Others |
7.77 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Supplier of automobile filter and lubes. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
||||||||||||||||||||||||
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|
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Bankers : |
|
||||||||||||||||||||||||
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|
||||||||||||||||||||||||
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Facilities : |
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|
|
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|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
S R Dinodia and Company Chartered Accountants |
|
Address : |
K-39, Cannought Place, New Delhi - 110004, India |
|
PAN
No.: |
AACFS2559N |
|
|
|
|
Related Party : |
|
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs. 10/- Each |
Rs.30.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2508370 |
Equity Shares |
Rs.10/- Each |
Rs.25.084
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 |
25.084 |
25.084 |
25.084 |
|
(b) Reserves & Surplus |
363.319 |
321.124 |
302.017 |
|
(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) |
388.403 |
346.208 |
327.101 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
33.725 |
23.624 |
17.818 |
|
(b) Deferred tax liabilities (Net) |
4.687 |
3.311 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
4.373 |
|
(d) long-term
provisions |
0.495 |
0.396 |
0.299 |
|
Total Non-current
Liabilities (3) |
38.907 |
27.331 |
22.490 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
201.839 |
201.698 |
136.123 |
|
(b) Trade payables |
279.455 |
232.964 |
109.782 |
|
(c) Other current
liabilities |
49.955 |
45.131 |
62.884 |
|
(d) Short-term
provisions |
11.584 |
7.691 |
10.705 |
|
Total Current
Liabilities (4) |
542.833 |
487.484 |
319.494 |
|
|
|
|
|
|
TOTAL |
970.143 |
186.023 |
669.085 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
377.253 |
323.577 |
254.422 |
|
(ii) Intangible Assets |
1.660 |
0.951 |
0.788 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
11.951 |
16.804 |
2.290 |
|
(b) Non-current Investments |
15.237 |
14.705 |
14.560 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
1.511 |
|
(d) Long-term Loan and Advances |
26.208 |
29.029 |
9.180 |
|
(e) Other
Non-current assets |
0.409 |
0.091 |
0.082 |
|
Total Non-Current
Assets |
432.718 |
385.157 |
282.833 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
251.549 |
236.900 |
185.144 |
|
(c) Trade receivables |
221.055 |
191.735 |
138.183 |
|
(d) Cash and cash
equivalents |
46.403 |
25.913 |
23.921 |
|
(e) Short-term loans
and advances |
16.419 |
18.909 |
28.272 |
|
(f) Other current
assets |
1.999 |
2.409 |
10.732 |
|
Total Current Assets |
537.425 |
475.866 |
386.252 |
|
|
|
|
|
|
TOTAL |
970.143 |
861.023 |
669.085 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.3.2012 |
31.02.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from sale of Product |
1345.493 |
1187.235 |
1127.801 |
|
|
|
Other Income |
9.704 |
7.957 |
8.087 |
|
|
|
TOTAL (A) |
1355.197 |
1195.192 |
1135.888 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost Of Material Consumed |
714.826 |
663.894 |
601.033 |
|
|
|
Purchase of Stock In Trade |
51.278 |
76.420 |
62.218 |
|
|
|
Changes in Inventories of finished Goods, Work in Progress, and Stock
in Trade |
(17.994) |
(12.873) |
(16.326) |
|
|
|
Employee Benefit Expenses |
157.726 |
135.046 |
116.755 |
|
|
|
Other Expenses |
312.656 |
247.869 |
250.380 |
|
|
|
TOTAL (B) |
1218.492 |
1110.356 |
1014.060 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
136.705 |
84.836 |
121.828 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
25.239 |
24.311 |
13.294 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
111.466 |
60.525 |
108.534 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
45.537 |
32.993 |
27.803 |
|
|
|
|
|
|
|
|
|
Add |
EXCEPTIONAL
ITEMS (G) |
0.531 |
0.146 |
0.218 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F+G) (H) |
66.460 |
27.678 |
80.949 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
15.106 |
5.253 |
20.578 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
51.354 |
22.425 |
60.371 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
31.042 |
23.475 |
25.922 |
|
|
TOTAL EARNINGS |
31.042 |
23.475 |
25.922 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs. 10/- each) |
20.47 |
8.94 |
24.07 |
|
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 |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
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 |
Yes |
|
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
UNSECURED LOAN:
|
Particular |
31.03.2013 (Rs. In Millions) |
31.03.2012 (Rs. In Millions) |
|
Long Term
Borrowing |
|
|
|
Deferred Sales Tax Loans |
2.024 |
3.038 |
|
Loans From related Parties |
9.628 |
8.249 |
|
Short Term
Borrowing |
|
|
|
Loans from Others |
88.382 |
74.152 |
|
Total
|
100.034 |
85.439 |
CORPORATE
INFORMATION:-
Subject is a public unlisted company domiciled in India and incorporated on 12th June 1973 under the provision of the Companies Act, 1956. The company has five manufacturing units located in Faridabad, Hosur and Nalagarh. The company is engaged in manufacturing and supplying of automobile filter and lubes. The company has established a new Oil plant at Faridabad where it has started its commercial production during the year. Elofic is a prime supplier to the Automobile industries in India and has also firmly established itself in the international market.
PERATION/PERFORMANCE
During
the year the company’s sale and other Incomes grew to Rs.1457.900 Million. The Export
sales have gone up to Rs. 330.300 Million whereas in the previous year this
figure was Rs. 247.800 Million. The profit (before interest and depreciation)
has increased by Rs. 522 Million over previous year. Profit before Tax has
increased by Rs. 38.800 Million even there is an increases of Rs. 12.500
Million on account of depreciation on fixed assets over the previous year due
to addition of modern equipments in each of the plants with an aim to improve
the operational efficiency. Profit after Tax has increased by Rs.29.000
Million, including profits from Elofic USA, LLC the company’s wholly owned
subsidiary in the USA.
CONTINGENT
LIABILITIES:
Claims against the company not acknowledged as debts
(Rs. In Million)
|
Particular |
31.03.2013 |
31.03.2012 |
|
Civil Suits |
1.172 |
1.172 |
|
Excise duty demand |
3.148 |
3.678 |
|
Income tax demand * |
0.290 |
0.290 |
|
Sales Tax Demand |
0.152 |
- |
|
Entry Tax Demand 612860 |
0.613 |
- |
|
Total |
5.375 |
5.140 |
INDEX OF CHARGE:
|
S.No.
|
Charge
ID |
Date
of Charge Creation/Modification |
Charge
amount secured |
Charge
Holder |
Address
|
Service
Request Number (SRN) |
|
1 |
10417045
|
26/03/2013
|
25,000,000.00
|
CITIBANK N.A |
JEEVAN BHARTI BUILDING, 4TH FLOOR, 124, CONNAUGHT |
B72360803
|
|
2 |
10331303
|
27/08/2012
* |
95,000,000.00
|
CITI BANK N.A. |
JEEVAN BHARTI BUILDING, 4TH FLOOR, 124 CONNAUGHT |
B56805427
|
|
3 |
10168226
|
24/06/2011
* |
196,693,000.00
|
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W |
B17564493
|
|
4 |
10104257
|
15/06/2011
* |
196,693,000.00
|
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W |
B15127434
|
|
5 |
90062419
|
07/01/2002
|
1,100,000.00
|
HONGKONG AND SHANGHAI BANKING CORPORATION LTD. |
BRANCH 28 ; K.G. MARG, NEW DELHI, DELHI, INDIA |
- |
|
6 |
90061208
|
03/07/1999
* |
500,000.00
|
CANARA BANK |
NEHRU PLACE, NEW DELHI, DELHI, INDIA |
- |
|
7 |
90061115
|
26/03/1998
* |
30,000,000.00
|
INDUSTRIAL DEV. BANK OF INDIA |
S.C.O. 72-73, SEC. 17/B, CHANDIGARH, CHANDIGARH, |
- |
|
8 |
90060836
|
03/07/1999
* |
240,000.00
|
CANARA BANK |
NEHRU PLACE, NEW DELHI, DELHI, INDIA |
- |
|
9 |
90060649
|
30/05/2000
* |
900,000.00
|
CANARA BANK |
NEHRU PLACE, NEW DELHI, DELHI, INDIA |
- |
|
10 |
90060464
|
03/07/1999
* |
900,000.00
|
CANARA BANK |
KASHMERE GATE, NEW DELHI, DELHI, INDIA |
- |
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.60.05 |
|
|
1 |
Rs.101.32 |
|
Euro |
1 |
Rs.83.34 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NTH |
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.