MIRA
INFORM REPORT
|
Report Date : |
01.01.2014 |
|
Name
: |
LILA POLYMERS PRIVATE
LIMITED |
|
|
|
|
Registered
Office : |
123, Mittal Tower, C Wing, 12th Floor, Nariman Point,
Mumbai – 400021, Maharashtra |
|
|
|
|
Country
: |
|
|
|
|
|
Financials
(as on) : |
31.03.2014 |
|
|
|
|
Date
of Incorporation : |
24.12.2002 |
|
|
|
|
Com.
Reg. No.: |
11-138388 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.2.345 Millions |
|
|
|
|
CIN
No.: [Company
Identification No.] |
U24134MH2002PTC138388 |
|
|
|
|
IEC
No.: |
0303018011 |
|
|
|
|
TAN
No.: [Tax
Deduction & Collection Account No.] |
MUML04277A |
|
|
|
|
PAN
No.: [Permanent
Account No.] |
AAACL8784H |
|
|
|
|
Legal
Form : |
Private Limited Liability
Company |
|
|
|
|
Line
of Business : |
Trader, Exporter and Importer of Polymers and Petrochemical Products. |
|
|
|
|
No.
of Employees : |
17 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
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 |
|
|
|
|
Comments : |
Subject is an established
company having a moderate track record. Profitability of the
company seems to be low during 2014. Trade relations are
reported to be fair. Business is active. Payment terms are reported to be
slow but correct. The company can be
considered for business dealings with some cautions. |
NOTES:
Any query related to this report can be made
on e-mail : infodept@mirainform.com while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
N E W S
Verdict
Implications: Apex court order may alter coal import dynamics. Traders go
slowly on talks over coal supply contracts, uncertainty over cancellation of
blocks weigh on stocks.
Recent arrest of the
Chennai head of the Registrar of Companies, the ministry of corporate affairs
arm that ensures that companies file all the information required by the
Companies Act is the latest manifestation of a messy fight between a father and
his adopted son for the control of Rs 40000 mn Business Empire. The Central
Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10
lakhs as bribe from M a M Ramaswamy, a CBI official said.
Central Bureau of
Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.
Infosys maintains
revenue guidance. COO Rao says attrition still an area of concern and it would
take a few more quarters to bring down levels to 13-15 %.
DHL to invest Euro
100 mn in India over next 2 years. The firm has chosen India to pilot its
e-commerce business model for the Asia-Pacific region.
Blackstone may buy
stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.
Kingfisher Airlines
Ltd grounded in October 2012 under the weight of heavy debt and accumulated
losses, recently approached the Delhi high court for relief in two separate
cases. The airline challenged a notice by Punjab & National Bank alleging
that it had wilfully defaulted on Rs 7700 mn of loans and sought more time to
comply with the requirements under the listing agreements with the Stock
Exchanges.
OnMobile likely to
sack another 300 employees. The lay-offs follow a spate of senior-level exits
over the past two years, starting with of its founder. The overall lay-offs
could number around 600 and are driven by the need to cut costs, says a former
employee.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA
|
|
Rating |
Fund
Based Limits = BB+ |
|
Rating Explanation |
Have
moderate risk of default |
|
Date |
August
2014 |
|
Rating Agency Name |
ICRA
|
|
Rating |
Non
Fund Based Limits = A4+ |
|
Rating Explanation |
Have
minimal degree of safety and carry very high credit risk |
|
Date |
August
2014 |
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
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Mathew George |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-9987037405 |
|
Date : |
30.10.2014 |
LOCATIONS
|
Registered Office : |
123, Mittal Tower, C Wing, 12th Floor, Nariman Point, Mumbai
– 400021, Maharashtra, India |
|
Tel. No.: |
91-22-40831111 / 1112 (100 Lines) / 28514616 / 66306541 |
|
Mobile No.: |
91-9987037405 (Mr. Mathew George) |
|
Fax No.: |
91-22-40831122 |
|
E-Mail : |
|
|
Website : |
|
|
Area
: |
975 Sq. Ft. |
|
Location
: |
Owned |
|
|
|
|
Marketing Office : |
10,
Vivek Industrial Estate, Uswalla Lane, Walbhat Road, Goregaon (East), |
|
Tel. No.: |
91-22-26855342 |
|
Fax No.: |
91-22-26855879 |
|
|
|
|
Warehouse : |
205, M.K. Patel Estate, Godown
No. 4, N.H. No. 8, Near L and T Company, Ranoli, Vadodara – 391350, Gujarat,
India |
|
|
|
|
Branch Office 1 : |
189/V, Shed No. 5,
Bahutha Savli, Vadodara – 391770, Gujarat, India |
|
|
|
|
Branch Office 2 : |
890, Road No. 14-P, Behind
Bharat Gas, Vishwakarma, Jaipur, Rajasthan, India |
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|
Associate Offices: |
Located At:
|
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Jagdish Ranjit Tanna |
|
Designation : |
Director |
|
Address : |
Flat No. 11, Neel Sagar, Agkhan Road, Worli Sea Face, Mumbai – 400018,
Maharashtra, India |
|
Date of Birth/Age : |
11.04.1969 |
|
Date of Appointment : |
24.12.2002 |
|
DIN No.: |
00494471 |
|
|
|
|
Name : |
Mr. Deveshkumar Kanubhai
Magia |
|
Designation : |
Additional director |
|
Date of Birth/Age : |
29.04.1965 |
|
Date of Appointment : |
25.09.2012 |
|
DIN No.: |
01686565 |
KEY EXECUTIVES
|
Name : |
Mr. Mathew George |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS
As on 30.09.2014
|
Names of Shareholders |
No.
of Shares |
%
of Holding |
|
Jagdish Ranjit Tanna |
148200 |
63.21 |
|
Reshma Jagdish Tanna |
63000 |
26.87 |
|
Archanaa Vinay Birla |
9000 |
3.84 |
|
Quest Profin Advisor
Private Limited, |
4000 |
1.71 |
|
ANS Global Limited, |
9000 |
3.84 |
|
Parth Jagdish Tanna |
1250 |
0.53 |
|
Total |
234450 |
100.00 |
%20%2001-Jan-2014_files/image002.png)
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2014
|
Category |
Percentage |
|
Directors
or relatives of Directors |
94.46 |
|
Other top
fifty shareholders |
5.54 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader, Exporter and Importer of Polymers and Petrochemical Products. |
|
|
|
|
Products : |
Polymers · Polyethylene Low Density Polyethylene (LDPE) Linear Low Density Polyethylene (LLDPE) High Density Polyethylene (HDPE) Raffia Grade1 HMHDPE · Polypropylene Polypropylene (PP) · Polyethylene
Terephthalate (PET) Bottle Grade Fiber Grade · Polyvinyl Chloride Polyvinyl Chloride (PVC) · Styrenes General Purpose Polystyrene (GPPS) High Impact Polystyrene (HIPS) Acrylonitrile Butadiene Styrene (ABS) Other Products Carbon Black HDPE PIPES Chemicals ·
Alcohols Methanol · Anhydrides Phthalic Anhydride · Chloralkali Chemicals
Caustic Soda · Fibre Intermediates Caprolactam (CPL) Triethylene Glycol (TEG) Monoethylene Glycol (MEG) Diethylene Glycol (DEG) · Others Phosphoric acid (Food Grade and Technical Grade) Paraffin Wax (Fully refined and Semi refined) Hydrogen Peroxide Titanium Dioxide (Anatase and Rutile) · General Commodities Finished Products PP Ropes Baler Twines · Metal Products Iron and Steel High Melting Scrap 1 (HMS 1) High Melting Scrap 2 (HMS 2) Steel billets |
|
|
|
|
Exports : |
|
|
Products
: |
Polymers and
Petrochemicals Products |
|
Countries
: |
European Countries |
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Imports : |
|
|
Products
: |
Raw Materials |
|
Countries
: |
|
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Terms : |
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Selling
: |
LC and Advance Payment |
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Purchasing
: |
LC and Advance Payment |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
End Users and Manufacture
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No. of Employees : |
17 (Approximately) |
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Bankers : |
Tel No.: 91-22-26757033
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Facilities
: |
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|
|
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|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name
: |
Jatin Gulabrai Solanki and Company Chartered Accountants |
|
Address
: |
2/59, Gokul, R.B. Mehta
Marg, Ghatkopar (East), Mumbai- 400077, Maharashtra,
India |
|
Tel.
No.: |
91-22-21027981 |
|
PAN
No: |
AABPS5281J |
|
|
|
|
Sister Concern (As on 31.03.2013)
: |
Address:
Nariman Point, Mumbai - 400021, Maharashtra, India Line
of Business: Trader and Importer of Polymers
|
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
234450 |
Equity Shares |
Rs.10/- each |
Rs.2.345 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a)
Share Capital |
2.345 |
2.020 |
2.020 |
|
(b)
Reserves & Surplus |
82.685 |
63.081 |
53.607 |
|
(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) |
85.030 |
65.101 |
55.627 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
33.011 |
52.667 |
30.085 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(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) |
33.011 |
52.667 |
30.085 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
84.358 |
108.441 |
29.824 |
|
(b) Trade payables |
324.852 |
218.679 |
161.887 |
|
(c) Other current liabilities |
0.000 |
0.000 |
0.000 |
|
(d) Short-term
provisions |
10.372 |
10.505 |
5.467 |
|
Total Current
Liabilities (4) |
419.582 |
337.625 |
197.178 |
|
|
|
|
|
|
TOTAL |
537.623 |
455.393 |
282.890 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
7.632 |
3.510 |
3.977 |
|
(ii) Intangible Assets |
0.000 |
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 |
3.615 |
3.462 |
1.227 |
|
(c) Deferred tax assets (net) |
0.162 |
0.192 |
0.143 |
|
(d) Long-term Loan and Advances |
0.616 |
0.660 |
3.867 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
12.025 |
7.824 |
9.214 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
87.888 |
101.279 |
40.543 |
|
(c) Trade receivables |
280.258 |
221.510 |
123.185 |
|
(d) Cash and cash equivalents |
108.401 |
94.973 |
79.640 |
|
(e) Short-term loans and advances |
0.000 |
0.000 |
0.000 |
|
(f) Other current assets |
49.051 |
29.807 |
30.308 |
|
Total Current Assets |
525.598 |
447.569 |
273.676 |
|
|
|
|
|
|
TOTAL |
537.623 |
455.393 |
282.890 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2,831.345 |
1,999.160 |
1,136.911 |
|
|
|
Other Income |
14.384 |
11.088 |
4.580 |
|
|
|
TOTAL (A) |
2,845.729 |
2,010.248 |
1,141.491 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials
Consumed |
2,766.765 |
1,945.785 |
1,095.076 |
|
|
|
Employee Benefits
Expenses |
7.805 |
7.645 |
5.858 |
|
|
|
Other Expenses |
32.656 |
26.833 |
19.496 |
|
|
|
TOTAL (B) |
2,807.226 |
1,980.263 |
1,120.430 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) BEFORE INTEREST,
TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
38.503 |
29.985 |
21.061 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
22.917 |
14.593 |
8.423 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) BEFORE TAX, DEPRECIATION
AND AMORTISATION (C-D) (E) |
15.586 |
15.392 |
12.638 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/ AMORTISATION (F) |
1.118 |
1.056 |
1.332 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) BEFORE TAX (E-F) (G) |
14.468 |
14.336 |
11.306 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
4.923 |
4.862 |
3.578 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) AFTER TAX (G-H) (I) |
9.545 |
9.474 |
7.728 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE BROUGHT
FORWARD |
46.000 |
36.526 |
28.798 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED TO THE B/S |
55.545 |
46.000 |
36.526 |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss) Per Share (Rs.) |
40.71 |
46.90 |
38.26 |
|
Expected Sales (2014-2015): Rs.3600.000 Millions
The above information has been parted by Mr. Mathew George.
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net
Profit Margin (PAT/Sales) |
(%) |
0.34 |
0.47 |
0.68 |
|
|
|
|
|
|
|
Operating
Profit Margin (PBIDT/Sales) |
(%) |
1.36 |
1.50 |
1.85 |
|
|
|
|
|
|
|
Return
on Total Assets (PBT/Total
Assets} |
(%) |
2.71 |
3.17 |
4.02 |
|
|
|
|
|
|
|
Return
on Investment (ROI) (PBT/Networth) |
|
0.17 |
0.22 |
0.20 |
|
|
|
|
|
|
|
Debt
Equity Ratio (Total
Debt /Networth) |
|
1.38 |
2.47 |
1.08 |
|
|
|
|
|
|
|
Current
Ratio (Current
Asset/Current Liability) |
|
1.25 |
1.33 |
1.39 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs. In Millions |
Rs. In Millions |
Rs. In Millions |
|
Share Capital |
2.020 |
2.020 |
2.345 |
|
Reserves
& Surplus |
53.607 |
63.081 |
82.685 |
|
Share
Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
|
0.000 |
0.000 |
0.000 |
|
Net worth |
55.627 |
65.101 |
85.030 |
|
|
|
|
|
|
Long Term borrowings |
30.085 |
52.667 |
33.011 |
|
Short Term
borrowings |
29.824 |
108.441 |
84.358 |
|
Total borrowings |
59.909 |
161.108 |
117.369 |
|
Debt/Equity ratio |
1.077 |
2.475 |
1.380 |
%20%2001-Jan-2014_files/image004.png)
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs. In Millions |
Rs. In Millions |
Rs. In Millions |
|
Sales |
1,136.911 |
1,999.160 |
2,831.345 |
|
|
|
75.841 |
41.627 |
%20%2001-Jan-2014_files/image006.png)
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs. In Millions |
Rs. In Millions |
Rs. In Millions |
|
Sales |
1,136.911 |
1,999.160 |
2,831.345 |
|
Profit |
7.728 |
9.474 |
9.545 |
|
|
0.68% |
0.47% |
0.34% |
%20%2001-Jan-2014_files/image008.png)
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS NOT AVAILABLE
|
Sr. No. |
Check
List by Info Agents |
Available
in Report (Yes / No) |
|
1] |
Year of
Establishment |
Yes |
|
2] |
Locality
of the firm |
Yes |
|
3] |
Constitutions
of the firm |
Yes |
|
4] |
Premises
details |
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 |
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 |
Yes
|
|
18] |
Major
customers |
Yes
|
|
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 |
No
|
|
30] |
Major
Shareholders, if available |
Yes |
|
31] |
Date of
Birth of Proprietor/Partner/Director, if available |
No |
|
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 |
31.03.2014 Rs.
In Millions |
31.03.2013 Rs.
In Millions |
|
LONG TERM BORROWINGS |
|
|
|
Loans and advances from
related parties |
NA |
26.217 |
|
Total |
NA |
26.217 |
INDEX OF CHARGE:
|
Sr.
No. |
Charge
ID |
Date
of Charge Creation/Modification |
Charge
amount secured |
Charge
Holder |
Address |
Service
Request Number (SRN) |
|
1 |
10359122 |
12/05/2012 |
100,000,000.00 |
Standard Chartered Bank |
Sme Credit, Crescenzo, 3a/F, Plot No. C-38 And 39, G Block, Bandra Kurla Complex, Bandra East, Mumbai - 400051, Maharashtra, India |
B40990889 |
|
2 |
90243793 |
24/02/2012 * |
250,085,000.00 |
Canara Bank |
Mandvi Branch, Sujeer House, 74, 76, Kazi Sayed Street, Mumbai - 400003, Maharashtra, India |
B36763589 |
*Date of modification Charges
FIXED ASSETS:
·
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 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.61.32 |
|
|
1 |
Rs.99.00 |
|
Euro |
1 |
Rs.78.14 |
INFORMATION DETAILS
|
Information Gathered by : |
SVA |
|
|
|
|
Analysis Done by : |
RAS |
|
|
|
|
Report Prepared by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE
FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
28 |
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.