MIRA
INFORM REPORT
|
Report Date : |
29.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
PHOENIX CONVEYOR BELT INDIA PRIVATE LIMITED (w.e.f. 26.08.2011) |
|
|
|
|
Formerly Known
As : |
PHOENIX YULE PRIVATE LIMITED (w.e.f. 05.01.2010) PHOENIX YULE LIMITED |
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|
Registered
Office : |
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Country : |
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Financials (as
on) : |
31.12.2013 |
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|
|
|
Date of
Incorporation : |
11.08.1998 |
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|
|
|
Com. Reg. No.: |
21-087713 |
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|
|
Capital
Investment / Paid-up Capital : |
Rs.459.300 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24134WB1998PTC087713 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALP03210E |
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|
|
|
PAN No.: [Permanent Account No.] |
AABCP5595P |
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|
Legal Form : |
Private Limited Liability Company |
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|
Line of Business
: |
Manufacturer of Steel Cord and Textile Conveyor Belts. |
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|
|
|
No. of Employees
: |
400 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (64) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 8300000 |
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|
|
|
Status : |
Good |
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|
|
Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established company having fine track record. The rating reflects company’s healthy operational risk profile marked
by adequate liquidity position and decent profitability levels of the company. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitments. The company can be considered good 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 – 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 |
|
High |
B2 |
|
Very High |
C1 |
|
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 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=AA- |
|
Rating Explanation |
High degree of safety and very low credit risk. |
|
Date |
September, 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 : |
Ms. Manisha |
|
Designation : |
Accountant |
|
Contact No.: |
91-33-22806638 |
|
Date : |
28.11.2014 |
LOCATIONS
|
Registered Office/ Factory : |
Muragacha Road, PO Gayeshpur, District Kalyani, Nadia, Kolkata-741234,
West Bengal, India |
|
Tel. No.: |
91-33-25898266/ 8727/ 7925 |
|
Fax No.: |
91-33-25898681/ 8527 |
|
E-Mail : |
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|
Website : |
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|
Corporate Office : |
Ideal Plaza, “North Block, 4th Floor, 11/1A, Sarat Bose
Road, Kolkata-700020, West Bengal, India |
|
Tel. No.: |
91-33-22806634 / 6637 |
|
Fax No.: |
91-33-22806638/ 22831832 |
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E-Mail : |
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Sales and Service
Points : |
LOCATED AT: · Mumbai · New Delhi · Chennai ·
Secunderabad |
DIRECTORS
As on: 30.05.2014
|
Name : |
Smita Pandit Chakraborty |
|
Designation : |
Managing Director |
|
Address : |
44/7, Garcha Road, 1st Floor, Kolkata – 700019, West Bengal,
India |
|
Date of Birth/Age : |
07.10.1971 |
|
Date of Appointment : |
01.10.2013 |
|
DIN No.: |
06701975 |
|
|
|
|
Name : |
Mr. Claus Peter Spille |
|
Designation : |
Director Appointed in Casual Vacancy |
|
Address : |
Wedemark, Mellendorf-030900 |
|
Date of Birth/Age : |
02.02.1968 |
|
Date of Appointment : |
11.12.2007 |
|
Passport No.: |
155225462 |
|
DIN No.: |
02248277 |
|
|
|
|
Name : |
Hans Juergen Duensing |
|
Designation : |
Additional Director |
|
Address : |
Raffelbergweg D 30853, Langenhagen |
|
Date of Birth/Age : |
20.05.1958 |
|
Date of Appointment : |
11.07.2006 |
|
Passport No.: |
1539305105 |
|
DIN No.: |
00764477 |
|
|
|
|
Name : |
Mr. Bernd Edgar Kuesel |
|
Designation : |
Director |
|
Address : |
Schafshagenberg, 31A, Hamburg-21077 |
|
Date of Birth/Age : |
09.10.1950 |
|
Date of Appointment : |
01.02.1999 |
|
Passport No.: |
1336129386 |
|
DIN No.: |
01687468 |
|
|
|
|
Name : |
Mr. Andreas Huck |
|
Designation : |
Director Appointed in Casual Vacancy |
|
Address : |
Meersmannufer 19, Hannover, Hamburg, Germany |
|
Date of Birth/Age : |
18.07.1969 |
|
Date of Appointment : |
08.11.2008 |
|
Passport No.: |
C2181W6MW |
|
DIN No.: |
02502613 |
KEY EXECUTIVES
|
Name : |
Mr. Partha Kamal Sen |
|
Designation : |
Secretary |
|
Address : |
Flat 8C1, Brook Tower, Hi Land Park, Kolkata-700094, West Bengal,
India |
|
Date of Birth/Age : |
26.07.1958 |
|
Date of Appointment : |
19.06.2008 |
|
PAN No.: |
AIOPS2541J |
|
|
|
|
Name : |
Ms. Manisha |
|
Designation : |
Account Assistant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.05.2014
|
Names of Shareholders |
|
No. of Shares |
|
Contitech TBS GmbH, Germany |
|
1 |
|
Phoenix BV, Netherland |
|
45934899 |
|
Total |
|
45934900 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.05.2014
|
Category |
Percentage |
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Steel Cord and Textile Conveyor Belts. |
|
|
|
|
Products : |
· Steel Cord ·
Textile Conveyor Belts |
|
|
|
|
Brand Names : |
Not Divulged |
|
|
|
|
Agencies Held : |
Not Divulged |
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|
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Exports : |
Not Divulged |
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|
|
|
Imports : |
Not Divulged |
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|
|
|
Terms : |
|
|
Selling : |
Cash and Cheque |
|
|
|
|
Purchasing : |
Cash and Cheque |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
Not Divulged |
|
|
|
|
Customers : |
Not Divulged |
|
|
|
|
No. of Employees : |
400 (Approximately) |
|
|
|
|
Bankers : |
·
ICICI Bank, ·
Deutsche Bank, West Bengal, India |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
B S R and Associates Chartered Accountants |
|
Address : |
Infinity Benchmark, Plot No.G-1, 10th Floor, Block-EP and
GP, Sector V, Salt Lake City Kolkata-700091, West Bengal, India |
|
PAN No.: |
AADFB6889R |
|
|
|
|
Holding Company : |
Phoenix B. V. |
|
|
|
|
Fellow Subsidiary
Company : |
Contitech Transportband Systeme GmbH |
|
|
|
|
Others : |
· Phoenix Conveyor Belts Systems GmbH · Contitech Antriebssysteme GmbH |
CAPITAL STRUCTURE
As on: 30.05.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
90000000 |
Equity Shares |
Rs.10/- each |
Rs.900.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
45934900 |
Equity Shares |
Rs.10/- each |
Rs.459.300 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.12.2013 |
31.12.2012 |
|
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
459.300 |
459.300 |
|
(b) Reserves & Surplus |
|
2434.900 |
1962.700 |
|
(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) |
|
2894.200 |
2422.000 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
39.600 |
17.500 |
|
Total Non-current
Liabilities (3) |
|
39.600 |
17.500 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short term borrowings |
|
0.000 |
0.000 |
|
(b) Trade payables |
|
762.400 |
728.200 |
|
(c) Other current liabilities |
|
243.900 |
163.900 |
|
(d) Short-term provisions |
|
195.700 |
44.200 |
|
Total Current
Liabilities (4) |
|
1202.000 |
936.300 |
|
|
|
|
|
|
TOTAL |
|
4135.800 |
3375.800 |
|
|
|
|
|
|
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
401.300 |
440.500 |
|
(ii) Intangible Assets |
|
0.700 |
0.100 |
|
(iii) Capital work-in-progress |
|
863.600 |
120.700 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
64.300 |
17.900 |
|
(d) Long-term Loan and Advances |
|
142.000 |
193.000 |
|
(e) Other Non-current assets |
|
66.100 |
47.100 |
|
Total Non-Current
Assets |
|
1538.000 |
819.300 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
398.100 |
359.000 |
|
(c) Trade receivables |
|
1272.600 |
891.900 |
|
(d) Cash and cash equivalents |
|
817.600 |
1228.700 |
|
(e) Short-term loans and advances |
|
107.800 |
74.100 |
|
(f) Other current assets |
|
1.700 |
2.800 |
|
Total Current Assets |
|
2597.800 |
2556.500 |
|
|
|
|
|
|
TOTAL |
|
4135.800 |
3375.800 |
|
SOURCES OF FUNDS |
|
|
31.12.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
459.349 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
1494.625 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
1953.974 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
5.958 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1959.932 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
493.989 |
|
|
Capital work-in-progress |
|
|
8.857 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
310.673
|
|
|
Sundry Debtors |
|
|
930.473
|
|
|
Cash & Bank Balances |
|
|
635.366
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
254.295
|
|
Total
Current Assets |
|
|
2130.807
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
414.923
|
|
|
Other Current Liabilities |
|
|
225.742
|
|
|
Provisions |
|
|
33.056
|
|
Total
Current Liabilities |
|
|
673.721
|
|
|
Net Current Assets |
|
|
1457.086
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1959.932 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
5154.500 |
4648.000 |
3703.254 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
4369.500 |
3889.200 |
3262.915 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
785.000 |
758.800 |
440.339 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
68.700 |
67.500 |
65.669 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
716.300 |
691.300 |
374.670 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
244.100 |
223.200 |
122.606 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
472.200 |
468.100 |
252.064 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
417.000 |
354.100 |
125.351 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
10.28 |
10.19 |
5.49 |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
22.33 |
21.35 |
14.27
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.25 |
0.29 |
0.19
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00 |
0.00 |
0.00
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.16 |
2.73 |
3.16
|
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.12.2011 |
31.12.2012 |
31.12.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Share Capital |
459.349 |
459.300 |
459.300 |
|
Reserves & Surplus |
1494.625 |
1962.700 |
2434.900 |
|
Net
worth |
1953.974 |
2422.000 |
2894.200 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.12.2011 |
31.12.2012 |
31.12.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales |
3703.254 |
4648.000 |
5154.500 |
|
|
|
25.511 |
10.897 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.12.2011 |
31.12.2012 |
31.12.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales |
3703.254 |
4648.000 |
5154.500 |
|
Profit |
252.064 |
468.100 |
472.200 |
|
|
6.81% |
10.07% |
9.16% |
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 |
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 |
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) |
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 |
No |
|
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 |
Yes |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
90245931 |
03/12/2003
* |
250,000,000.00 |
ICICI
BANK LIMITED |
RASOI
SIR R.N. MUKHER JEE ROAD, KOLKATA, WEST BENGAL - 700001, INDIA |
- |
*Date of modification Charges
OPERATION:
During the year ended on 31st December 2013, subject has achieved a turnover of Rs.5154.500 Millions as compared to Rs.4648.000 Millions in the previous year, an increased growth of 11% over the previous year. The recorded profit before tax of the Company during 2013 has become Rs.716.300 Millions as against Rs.691.300 Millions in 2012, and thus clocking an upward growth of 4% over the previous year. This has become achievable mostly for the increased market shares as well as due to stability in the raw-material prices.
During the period subject has bagged the Silver Award for manufacturing excellence from ET and Frost and Sullivan.
FIXED ASSETS
· Land
· Buildings
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
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.61.97 |
|
|
1 |
Rs.97.37 |
|
Euro |
1 |
Rs.77.16 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
KRN |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
64 |
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.