MIRA
INFORM REPORT
|
Report Date : |
26.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
PRAVI AUTO SWING PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Indraprastha Chamber 755/1 Mayur
Colony, Pune – 411029, Maharashtra |
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|
|
|
Country : |
India |
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|
|
|
Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
11.03.1986 |
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|
|
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Com. Reg. No.: |
11- 039190 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 7.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28991MH1986PTC039190 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEP08002B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCP0344A |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturing of Gas Springs, Auto Lift Gas Springs, Auto block Gas
Springs |
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|
|
|
No. of Employees
: |
16 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 280000 |
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|
|
|
Status : |
Satisfactory |
|
|
|
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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|
|
Comments : |
Subject is an established company having satisfactory track. Management has reported an increase in its sales volume as well as net
profitability during 2013. Trade relations are fair. Business is active. Payment terms are
reported as usually correct. The company can be considered 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL – NSIC |
|
Rating |
SE3A |
|
Rating Explanation |
Moderate performance capability and high financial strength |
|
Date |
July 10, 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
|
Name : |
Ms. Madhumala |
|
Designation : |
Assistant Manager |
|
Contact No.: |
91-20-25438220 |
|
Date : |
09.05.2014 |
LOCATIONS
|
Registered Office : |
Indraprastha Chamber 755/1 Mayur
Colony, Pune – 411038, Maharashtra, India |
|
Tel. No.: |
91-20-25438220 25445235 |
|
Mobile No.: |
91-9011069702 (Mr. Kailash K. Deodhar) 91-9822047269 (Mr. Ravi Deodhar) |
|
Fax No.: |
91-20-25438220 |
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E-Mail : |
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Website : |
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Area
: |
550 Sq.fts. |
|
Location
: |
Rented |
|
|
|
|
Factory 1 : |
Plot No. 5, S. No. 81/4A, Near Agarwal Godown,
Dangat Industrial Estate, Warje- NDA Road, Shivane,
Pune-411023, Maharashtra, India |
|
Tel. No.: |
91-20-25291168 |
|
|
|
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Factory 2 : |
Plot No. 4, S. No. 79/2, Shivane
Industrial Area, Warje- NDA Road, Shivane, Pune – 411038, Maharashtra, India |
|
Tel. No.: |
91-20-25291168 |
|
Area
: |
6000 Sq.fts. |
|
Location
: |
Owned |
DIRECTORS
AS ON 26.09.2013
|
Name : |
Mr. Ravindra Krishna Deodhar |
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|
Designation : |
Managing Director |
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|
Address : |
10, Vinayak, NAV Ketan Housing Society, off Karve, Pune – 411029, Maharashtra, India |
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Date of Birth/Age : |
31.03.1951 |
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Date of Appointment : |
01.10.2003 |
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DIN No.: |
00096301 |
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|
Name : |
Mr. Shrikant Sudhakar Nivsarkar |
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Designation : |
Director |
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|
Address : |
Charusmita Apartments 93, Mayur Colony, Kothuru , Pune – 411029, Maharashtra, India |
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Date of Birth/Age : |
06.07.1948 |
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Date of Appointment : |
30.09.2004 |
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DIN No.: |
00096357 |
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|||||||||||||||||||||||||||
|
Name : |
Mr. Atul Govind Atre |
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|
Designation : |
Director |
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|
Address : |
1284, Shivajinagar, Pune – 411005, Maharashtra, India |
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Date of Birth/Age : |
29.05.1949 |
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Date of Appointment : |
30.09.2011 |
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DIN No.: |
03358353 |
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Other
Directorship:
|
||||||||||||||||||||||||||||
|
Name : |
Mr. Kailash |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Ms. Madhumala |
|
Designation : |
Assistant Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 26.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Sunita Ramesh Panse |
|
230 |
|
Alka Ravindra Deodhar |
|
275 |
|
Ravindra Jagannath Karmarkar |
|
730 |
|
Vishwas Vinayak Dixit |
|
1220 |
|
Anand Madhav Desai |
|
1220 |
|
Tanvi Ramesh Ghotikar |
|
60 |
|
Anuradha Vijaykumar Khatavkar |
|
275 |
|
Vidula Waman Date |
|
212 |
|
Sandhya Chandrakant Nemade |
|
706 |
|
Aruna Atul Atre |
|
620 |
|
Smita Suresh Kulkarni |
|
190 |
|
Vasant Balkrishna Patwardhan |
|
80 |
|
Mrudul Prakash Puranik |
|
450 |
|
Rajaram Prabhakar Lele |
|
40 |
|
Mohini Atul Atre |
|
55 |
|
Ravindra Krishna Deodhar |
|
14510 |
|
K. V. Development and Investment Company Private Limited, India |
|
5825 |
|
Ashok Pandurag Budhkar |
|
200 |
|
Usha Shreekant Nivasarkar |
|
100 |
|
Urmila Jayant Kulkarni |
|
140 |
|
Nilima Nachiket Dhavale |
|
50 |
|
Shobha Prakash Pokale |
|
50 |
|
Vrishall Vilas Kulkarni |
|
50 |
|
Atul Govind Atre |
|
250 |
|
Madhuri Gururaj Kulkarni |
|
850 |
AS ON 26.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Particulars |
Percentage |
|
Bodies Corporate (not mentioned above) |
8.00 |
|
Directors and relatives of directors |
72.00 |
|
Other top fifty (50) Shareholders (other
than listed above) |
20.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Gas Springs, Auto Lift Gas Springs, Auto block Gas
Springs |
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|
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Products : |
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Exports : |
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Products : |
Gas Springs |
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Countries : |
|
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Terms : |
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Selling : |
Credit (30 days) |
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|
|
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Purchasing : |
Credit (30 days / 60 days) |
GENERAL INFORMATION
|
Customers : |
OEM’s |
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No. of Employees : |
16 (Approximately) |
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Bankers : |
Bank of Maharashtra, Mayur Colony, Karve Road, Pune – 411038, Maharashtra, India |
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Facilities : |
Note : LONG TERM
BORROWINGS Term loan secured against vehicle purchased on hire purchase. SHORT TERM
BORROWINGS Workings Capital
loan Secured by hypothecation of Stock of Raw Material, Stores, Spares and
Debts. |
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|
|
|
Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
G. M. Oka and Company Chartered Accountants |
|
Address : |
32, Swapna Nagari, |
|
Tel No.: |
91-20-25440143/25434752 |
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Fax No.: |
91-20-25440143 |
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PAN No.: |
AABFG1894M |
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E-mail : |
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|
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|
|
Related Party : |
K. V. Development and Investment Company Private Limited |
CAPITAL STRUCTURE
AS ON 26.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
80000 |
Equity Shares |
Rs.100/- each |
Rs.8.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
70000 |
Equity Shares |
Rs.100/- each |
Rs. 7.000 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 |
7.000 |
3.769 |
3.769 |
|
(b) Reserves & Surplus |
61.050 |
52.462 |
44.293 |
|
(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) |
68.050 |
56.231 |
48.062 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.400 |
0.531 |
0.290 |
|
(b) Deferred tax liabilities
(Net) |
1.583 |
1.758 |
1.910 |
|
(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) |
1.983 |
2.289 |
2.200 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
11.968 |
5.744 |
6.443 |
|
(b) Trade payables |
6.332 |
7.030 |
7.022 |
|
(c) Other current liabilities |
1.886 |
1.720 |
1.430 |
|
(d) Short-term provisions |
3.671 |
3.544 |
13.631 |
|
Total
Current Liabilities (4) |
23.857 |
18.038 |
28.526 |
|
|
|
|
|
|
TOTAL |
93.890 |
76.558 |
78.788 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
39.742 |
37.919 |
38.791 |
|
(ii) Intangible Assets |
0.442 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.179 |
0.199 |
0.150 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
40.363 |
38.118 |
38.941 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
4.824 |
5.938 |
4.969 |
|
(c) Trade receivables |
23.952 |
20.558 |
19.349 |
|
(d) Cash and cash equivalents |
18.244 |
6.168 |
4.347 |
|
(e) Short-term loans and
advances |
0.648 |
0.538 |
10.541 |
|
(f) Other current assets |
5.859 |
5.238 |
0.641 |
|
Total
Current Assets |
53.527 |
38.440 |
39.847 |
|
|
|
|
|
|
TOTAL |
93.890 |
76.558 |
78.788 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
86.262 |
84.512 |
78.277 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
66.289 |
66.372 |
59.901 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION (A-B) (C) |
19.973 |
18.140 |
18.376 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.519 |
0.583 |
0.762 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
19.454 |
17.557 |
17.614 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
3.987 |
3.662 |
2.406 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
15.467 |
13.895 |
15.208 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
4.915 |
4.427 |
4.997 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
10.552 |
9.468 |
10.211 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
5.914 |
7.046 |
3.747 |
|
|
TOTAL EARNINGS |
5.914 |
7.046 |
3.747 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
150.74 |
251.24 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
12.23 |
11.20 |
13.04 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
16.47 |
18.15 |
19.30 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.23 |
0.25 |
0.32 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.18 |
0.11 |
0.14 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.24 |
2.13 |
1.39 |
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 |
3.769 |
3.769 |
7.000 |
|
Reserves & Surplus |
44.293 |
52.462 |
61.050 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
48.062 |
56.231 |
68.050 |
|
|
|
|
|
|
long-term borrowings |
0.290 |
0.531 |
0.400 |
|
Short term borrowings |
6.443 |
5.744 |
11.968 |
|
Total
borrowings |
6.733 |
6.275 |
12.368 |
|
Debt/Equity
ratio |
0.140 |
0.112 |
0.182 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.3.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Total Income |
78.277 |
84.512 |
86.262 |
|
|
|
7.965 |
2.071 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.3.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Total Income |
78.277 |
84.512 |
86.262 |
|
Profit After Tax |
10.211 |
9.468 |
10.552 |
|
|
13.04% |
11.20% |
12.23% |
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 |
Yes |
|
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 |
No |
|
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 |
No |
|
33] |
Voter ID No
of Proprietor/Partner/Director, if available |
No |
|
34] |
External
Agency Rating, if available |
Yes |
VIEW INDEX OF
CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
90085140 |
24/01/2012 * |
16,500,000.00 |
BANK OF
MAHARASHTRA |
Mayur Colony, Mayur Colony Branch, Pune - 411038,
Maharashtra, India |
B32273161 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Deposit |
0.400 |
0.400 |
|
|
|
|
|
Total |
0.400 |
0.400 |
OPERATIONS
During the year, the company sold 676594 Nos. of gas – springs as
against 635893 Nos. in the year 2011-2012, resulting in an increase of 38001
Nos., which is an increase of 6%.
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.58.48 |
|
|
1 |
Rs.98.67 |
|
Euro |
1 |
Rs.79.81 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
44 |
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.