MIRA
INFORM REPORT
|
Report Date : |
26.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
CHESA DENTAL CARE SERVICES LIMITED |
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Registered
Office : |
310, Gauri Commercial Complex, Plot No. 19, Sector 11, CBD, Navi
Mumbai – 400614, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of Incorporation
: |
13.02.1996 |
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Com. Reg. No.: |
11-097192 |
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Capital
Investment / Paid-up Capital : |
Rs. 32.780 Millions |
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|
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CIN No.: [Company Identification
No.] |
U85120MH1996PLC097192 |
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|
TAN No.: [Tax Deduction & Collection
Account No.] |
MUMC14495F |
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PAN No.: [Permanent Account No.] |
AABCC6137G |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer of Dental Equipment (Predominantly Dental Chairs) and
also Importer and Trader of Dental Equipment, Training, Research and
Diagnostics. |
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|
|
No. of Employees
: |
67 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (33) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. Management has failed to file its financial after 2012 with Government
Department. Dr. C L Vijay, Chief Executive Officer has provided general
information and financial statement for the year 2012 and 2013. As per available financials, external borrowing of the company has
increased in the year 2013 as compared to previous year. Rating also takes
into consideration high working capital intensity and stretched capital
structure due to planned capital expenditure towards capacity expansion tied
up majorly through debt. However, trade relations are fair. Business is active. Payment terms are
slow but correct. The company can be considered for business dealings with some
caution. |
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
N E W S
Verdict Implications
: Apex court order may alter coal import dynamics. Traders go slow 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 willfully 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 |
Term Loans: “B+” |
|
Rating Explanation |
Risk prone credit quality and very high
credit risk. |
|
Date |
April 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
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Dr. C. L. Vijay |
|
Designation : |
Chief Executive Officer |
|
Contact No.: |
91-9986545666 |
|
Date : |
25.11.2014 |
LOCATIONS
|
Registered Office : |
310, Gauri Commercial Complex, Plot No. 19, Sector 11, CBD, Navi Mumbai
– 400614, Maharashtra, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9986545666 [Dr. C. L. Vijay] |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Area : |
40000 Sq. ft. |
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Corporate Office/
Factory : |
51,52, EPIP Zone, KIADB Industrial Area, White Field, Bangalore - 560006, Karnataka, India |
|
Tel. No.: |
91-80-43303500-30 |
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Fax No.: |
91-80-41157156 |
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Branch Offices : |
Located at: · New Delhi Chennai Lucknow Hubli Kolkata |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Sunil Chetan Lilaramani |
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|
Designation : |
Director |
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Address : |
3/20. Borla Society, Dr. C G Marg, Chembur, Mumbai -
400074, Maharashtra, India |
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|
Date of Birth/Age : |
15.03.1967 |
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Date of Appointment : |
13.02.1996 |
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DIN No.: |
02265117 |
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Other Directorship :
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Name : |
Mrs. Kavita Chetan Lilaramani |
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|
Designation : |
Director |
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|
Address : |
16, Adarsh Palm Retreat, Devanabeesan Ahalli, Behind Intel
Outer Ring Road, Bangalore - 560103, Karnataka, India |
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|
Date of Birth/Age : |
31.01.1935 |
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Date of Appointment : |
13.02.1996 |
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DIN No.: |
03331615 |
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|
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Name : |
Dr. Vijay Chetan Lilaramani |
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|
Designation : |
Director |
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|
Address : |
Adarsh Palm Retreat, Villa 16, Bellandur, Sarjapur, Bangalore,
Karnataka, India |
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Date of Birth/Age : |
07.07.1964 |
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Qualification : |
BDS |
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Experience : |
25 Years |
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Date of Appointment : |
13.02.1996 |
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DIN No.: |
01641367 |
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Other Directorship :
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|
||||||||||||||||||||||||
|
Name : |
Dr. Anju Vijay Lilaramani |
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|
Designation : |
Director |
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|
Address : |
Adarsh Palm Retreat, Villa 16, Bellandur, Sarjapur,
Bangalore, Karnataka, India |
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|
Date of Birth/Age : |
18.04.1967 |
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Qualification : |
BDS |
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Experience : |
22 Years |
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|
Date of Appointment : |
04.07.2000 |
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DIN No.: |
01641374 |
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Other Directorship :
|
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KEY EXECUTIVES
|
Name : |
Dr. C. L. Vijay |
|
Designation : |
Chief Executive Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
No. of Shares |
|
Lilaramani Kavita Chetan |
12200 |
|
Vijay Chetan Lilaramani |
847100 |
|
Sunil Chetan Lilaramani |
9600 |
|
D Dayal M |
110100 |
|
Lulla S Shakuntala |
100 |
|
Anju Vijay Lilaramani |
1117100 |
|
Lilaramani S Krutika |
43300 |
|
Gubba Madanlalvi Mal |
2000 |
|
Gubba Madanlal |
33500 |
|
Rajpal A Nand |
10000 |
|
|
|
|
Total |
2185000 |
AS ON 07.01.2014
|
Names of Allottees |
No. of Shares |
|
Vijay Chetan Lilaramani |
546667 |
|
Anju Vijay Lilaramani |
546666 |
|
|
|
|
Total |
1093333 |
AS ON 30.09.2013
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Directors
or relatives of directors |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Dental Equipment (Predominantly Dental Chairs) and
also Importer and Trader of Dental Equipment, Training, Research and
Diagnostics. |
|
|
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|
Brand Names : |
-- |
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Agencies Held : |
· Adec Inc., USA Wosun, China Bien Air Switzerland Dynamic, China |
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Exports : |
Not Available |
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Imports : |
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Products : |
Dental Goods |
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Countries : |
China |
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Terms : |
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Selling : |
Cash and Credit [60 Days] |
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Purchasing : |
Credit [30 Days and 60 Days] |
PRODUCTION STATUS
|
Particulars |
Installed
Capacity |
Actual
Production |
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|
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|
Dental Chair Units |
1200 |
1200 |
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GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Wholesalers and OEM’s
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No. of Employees : |
67 (Approximately) |
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Bankers : |
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Facilities : |
Credit Limit = Rs. 490.000 Millions |
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Auditors : |
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|
Name : |
KPMS and Associates Chartered Accountants |
|
Address : |
No 65, 1st Floor, Middle School Road, Bangalore –
560004, Karnataka, India |
|
Tel. No.: |
91-80-26608144/ 65662578 |
|
Fax No.: |
91-80-26508311 |
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E-Mail : |
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|
Income-tax
PAN of auditor or auditor's firm : |
AAJFK6033G |
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AFTER 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 40.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3,278,333 |
Equity Shares |
Rs. 10/- each |
Rs. 32.783 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2014 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
32.780 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
91.200 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
123.980 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
210.800 |
|
|
2] Unsecured Loans |
|
|
32.500 |
|
|
TOTAL BORROWING |
|
|
243.300 |
|
|
DEFERRED TAX LIABILITIES |
|
|
3.200 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
370.480 |
|
|
|
|
|
|
|
|
APPLICATION OF
FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
119.200 |
|
|
Capital work-in-progress |
|
|
64.800 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
3.200 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
80.500 |
|
|
Sundry Debtors |
|
|
90.880 |
|
|
Cash & Bank Balances |
|
|
12.400 |
|
|
Other Current Assets |
|
|
13.700 |
|
|
Loans & Advances |
|
|
2.800 |
|
Total
Current Assets |
|
|
200.280 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
|
|
|
Other Current Liabilities |
|
|
10.800 |
|
|
Provisions |
|
|
6.200 |
|
Total
Current Liabilities |
|
|
17.000 |
|
|
Net Current Assets |
|
|
183.280 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
370.480 |
|
|
SOURCES OF FUNDS |
|
31.03.2013 |
31.03.2012 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
21.850 |
13.850 |
|
(b) Reserves & Surplus |
|
36.842 |
15.813 |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
58.692 |
29.663 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
|
86.121 |
49.657 |
|
(b) Deferred tax liabilities (Net) |
|
0.807 |
0.411 |
|
(c) Other long
term liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
86.928 |
50.068 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
71.010 |
30.814 |
|
(b)
Trade payables |
|
2.839 |
1.412 |
|
(c)
Other current liabilities |
|
7.256 |
8.090 |
|
(d) Short-term provisions |
|
1.451 |
1.086 |
|
Total Current
Liabilities (4) |
|
82.556 |
41.402 |
|
|
|
|
|
|
TOTAL |
|
228.176 |
121.133 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i) Tangible
assets |
|
83.172 |
51.149 |
|
(ii)
Intangible Assets |
|
0.012 |
0.000 |
|
(iii)
Capital work-in-progress |
|
17.414 |
3.804 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.944 |
2.267 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.433 |
0.153 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
101.975 |
57.373 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
22.270 |
3.557 |
|
(c)
Trade receivables |
|
81.735 |
56.457 |
|
(d) Cash
and cash equivalents |
|
11.457 |
1.500 |
|
(e)
Short-term loans and advances |
|
10.739 |
2.246 |
|
(f) Other
current assets |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
126.201 |
63.760 |
|
|
|
|
|
|
TOTAL |
|
228.176 |
121.133 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
|
245.122 |
183.028 |
|
|
|
Other Income |
|
1.453 |
0.029 |
|
|
|
TOTAL (A) |
NA
|
246.575 |
183.057 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
|
0.000 |
0.000 |
|
|
|
Purchases of Stock-in-Trade |
|
222.004 |
145.960 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
|
(18.713) |
8.611 |
|
|
|
Employees benefits expense |
|
4.315 |
3.053 |
|
|
|
Other expenses |
|
12.415 |
3.771 |
|
|
|
TOTAL (B) |
NA
|
220.021 |
161.395 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
67.400 |
26.554 |
21.662 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
30.400 |
12.679 |
11.198 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
37.000 |
13.875 |
10.464 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
13.800 |
6.787 |
6.943 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
23.200 |
7.088 |
3.521 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
7.000 |
2.059 |
1.849 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
16.200 |
5.029 |
1.672 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
68.900 |
40.600 |
NA |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
4.94 |
2.39 |
1.21 |
|
NOTE:
Financial i.e. Balance Sheet and Profit and
Loss Account for the year 2014 is provided by the management.
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
NA
|
2.05 |
0.91 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
NA
|
10.83 |
11.84 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.26
|
3.38 |
3.06 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19
|
0.12 |
0.12 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.96
|
2.68 |
2.71 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
11.78
|
1.53 |
1.54 |
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
two years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
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 |
Yes |
|
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 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER
(SRN) |
|
1 |
10370987 |
14/11/2013 * |
475,500,000.00 |
BANK OF INDIA |
BANGALORE MID CORPORATE BRANCH, NO.11,
FIRST FLOOR, BANK OF INDIA BUILDING, K. G. ROAD, BANGALORE, KARNATAKA -
560009, INDIA |
B90634296 |
|
2 |
10253634 |
04/09/2010 |
103,307,000.00 |
BANK OF INDIA |
CANTONMENT BRANCH, NO. 49, JYOTHI MAHAL,
ST. MARKS ROAD, BANGALORE, KARNATAKA - 560001, INDIA |
A97355549 |
|
3 |
10062725 |
27/06/2009 * |
58,000,000.00 |
BANK OF INDIA |
CANTONMENT BRANCH, NO. 49, JYOTHI MAHAL,
ST. MARKS ROAD, BANGALORE, KARNATAKA - 560001, INDIA |
A67625103 |
|
4 |
90352936 |
01/09/2003 * |
7,000,000.00 |
KARNATAKA STATE FINANCIAL CORPORATION |
THIMAIGH ROAD, BANGALORE, KARNATAKA, INDIA |
- |
* Date of charge modification
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. 61.92 |
|
|
1 |
Rs. 97.12 |
|
Euro |
1 |
Rs. 76.93 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
33 |
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.