MIRA
INFORM REPORT
|
Report Date : |
10.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
PALAKSHREE FORESIGHTS LIMITED (w.e.f. 01.07.2010) |
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Formerly Known
as : |
PALAKSHREE FORESIGHTS PRIVATE LIMITED (w.e.f. 01.07.2008) PALAKSHREE PACKAGING PRIVATE LIMITED |
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Registered
Office : |
89, Manekbaug Society, |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
08.05.1996 |
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Com. Reg. No.: |
04-029550 |
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Capital
Investment / Paid-up Capital : |
Rs.7.700 Millions |
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CIN No.: [Company Identification
No.] |
U21090GJ1996PLC029550 |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer, Exporter and Importer of Craft Papers and Agro
Commodities. |
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No. of Employees
: |
50 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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. The company possesses a moderate financial profile marked by modest networth
base comprising of low reserves along with increased gearing and slow debtor
realisation backed by high inventory, highlighting the marginal scale of its
operations. Management has reported a minimal sales revenue as well as net
profitability. However, trade relations are seems to be fair. Business is active.
Payment terms are reported as 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.
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.
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. Suketa |
|
Designation : |
Finance Head |
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Contact No.: |
91-79-26442531 |
|
Date : |
08.10.2014 |
LOCATIONS
|
Registered Office : |
89, Manekbaug Society, S. M. Road,
Ambawadi, Ahmedabad – 380015, Gujarat, India |
|
Tel. No.: |
91-79-26622330 / 26442531 / 26427777 |
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Mobile No.: |
91-9825015501 (Mr. Kirit Chaudhari) 91-9909922299 (Mr. Rajat Chaudhari) |
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Fax No.: |
91-79-26427777 |
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E-Mail : |
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Website : |
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Administration Office : |
B/304, Ganesh Plaza, Near Bus Stop, Navrangpura, Ahmedabad - 380 061, Gujarat, India |
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Tel. No.: |
91-79-26442531 / 26427777 |
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Fax No.: |
91-79-26427777 |
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Factory : |
Block No. 310, Village: Kukas, Near
Shobhasan Railway Crossing, Mehsana-Vijapur Highway, Mehsana – 384000, Gujarat, India |
DIRECTORS
AS ON 28.09.2013
|
Name : |
Mr. Kirit Ranchhodbhai Chaudhari |
|
Designation : |
Director |
|
Address : |
89, Manekbaug Society, S. M. Das Road, Lane – 11, Ambawadi, Ahmedabad - 380015, Gujarat, India |
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Date of Birth/Age : |
09.11.1960 |
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Date of Appointment : |
08.05.1996 |
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DIN No. : |
00281092 |
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Name : |
Mr. Rajat Kirit Chaudhari |
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Designation : |
Director |
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Address : |
89, Manekbaug Society, S. M. Das Road, Lane – 11, Ambawadi, Ahmedabad - 380015, Gujarat, India |
|
Date of Birth/Age : |
12.08.1986 |
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Date of Appointment : |
04.07.2005 |
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DIN No. : |
00503419 |
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Name : |
Mrs. Savita Kirit Chaudhari |
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Designation : |
Director |
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Address : |
89, Manekbaug Society, S. M. Das Road, Lane – 11, Ambawadi, Ahmedabad - 380015, Gujarat, India |
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Date of Birth/Age : |
31.01.1966 |
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Date of Appointment : |
08.05.1996 |
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Voter ID: |
DDV3562196 |
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DIN No. : |
00504433 |
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|
|
|
Name : |
Mrs. Palak Kirit Chaudhari |
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Designation : |
Director |
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Address : |
89, Manekbaug Society, S. M. Das Road, Lane – 11, Ambawadi, Ahmedabad - 380015, Gujarat, India |
|
Date of Birth/Age : |
20.08.1993 |
|
Date of Appointment : |
21.12.2011 |
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DIN No. : |
05146677 |
KEY EXECUTIVES
|
Name : |
Mr. Suketa |
|
Designation : |
Finance Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.09.2013
|
Names of Shareholders |
No. of Shares |
|
Narayan Chaudhari |
3000 |
|
Hemant Desai |
1000 |
|
Sanat Gandhi |
1000 |
|
Ratan Agarwal |
1000 |
|
Palak Chaudhari |
20000 |
|
Kirit Ranchhodbhai Chaudhari |
345200 |
|
Rajat Kirit Chaudhari |
102000 |
|
Savita Kirit Chaudhari |
296800 |
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Total |
770000 |
AS ON 28.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter and Importer of Craft Papers and Agro
Commodities. |
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Exports : |
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Products : |
Agro Commodities |
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Countries : |
European Countries |
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Imports : |
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Products : |
Raw (Waste) Paper |
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Countries : |
European and Gulf Countries |
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Terms : |
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Selling : |
Cash, L/C and Credit |
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Purchasing : |
Cash, L/C and Credit |
GENERAL INFORMATION
|
Suppliers : |
·
Gulf Recycling ·
Euro Overseas ·
Accurate Electricals ·
GMDC Limited |
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Customers : |
Wholesalers, Retailers and End Users ·
Skylem Limited ·
Decent Laminates Private Limited ·
Amaar Décor ·
Monal Laminates Private Limited |
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No. of Employees : |
50 (Approximately) |
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Bankers : |
Union Bank of India, C.G. Road Branch, Chimanlal Girdhardas Road, 424/11, Behind Law College, Ellise Bridge, Ahmedabad - 380009, Gujarat, India |
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Facilities : |
NOTE : LONG TERM
BORROWINGS Term loans From Union Bank of India Current and previous year, term loans from Union Bank of India is secured by way of first charge on plant and machinery.
SHORT TERM
BORROWINGS Loans repayable on demand from bank : Cash Credit Account Union Bank of India Secured equitable mortgage of residential bunglow of director Mr. Kirit Chaudhari and Mrs. Savita Chaudhari hypothecation of all the stocks and book debts of the company. Personal guarantee from directors of the company Mr. Kirit Chaudhari and Mrs. Savita Chaudhari and Mr. Rajat Chaudhari. |
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Banking
Relations : |
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Auditors : |
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Name : |
Manubhai A. Panchal and Company Chartered Accountants |
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Address : |
B-12, Vasupujya Chambers, Narayan Nagar Road, Ashram Road, Ahmedabad –
380014, Gujarat, India |
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PAN No.: |
AAWPP0525D |
CAPITAL STRUCTURE
AS ON 28.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
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|
|
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|
1,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 10.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
770,000 |
Equity Shares |
Rs.10/- each |
Rs. 7.700 Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
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|
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|
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I.
EQUITY AND LIABILITIES |
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(1)Shareholders' Funds |
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(a) Share Capital |
7.700 |
7.700 |
7.500 |
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(b) Reserves & Surplus |
6.595 |
4.786 |
3.581 |
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(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
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|
|
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(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
14.295 |
12.486 |
11.081 |
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|
|
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(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
26.895 |
12.975 |
19.175 |
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(b) Deferred tax liabilities
(Net) |
0.643 |
0.474 |
0.470 |
|
(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) |
27.538 |
13.449 |
19.645 |
|
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|
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(4) Current Liabilities |
|
|
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(a) Short term borrowings |
14.271 |
12.741 |
8.409 |
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(b) Trade payables |
2.325 |
1.132 |
0.260 |
|
(c) Other current liabilities |
3.492 |
3.599 |
0.085 |
|
(d) Short-term provisions |
0.223 |
0.196 |
0.762 |
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Total
Current Liabilities (4) |
20.311 |
17.668 |
9.516 |
|
|
|
|
|
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TOTAL |
62.144 |
43.603 |
40.242 |
|
|
|
|
|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
20.132 |
19.845 |
19.210 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.582 |
0.821 |
0.829 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
20.714 |
20.666 |
20.039 |
|
|
|
|
|
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(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
14.033 |
2.459 |
3.919 |
|
(c) Trade receivables |
25.522 |
16.354 |
8.809 |
|
(d) Cash and cash equivalents |
0.796 |
3.492 |
6.704 |
|
(e) Short-term loans and
advances |
1.079 |
0.632 |
0.771 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
41.430 |
22.937 |
20.203 |
|
|
|
|
|
|
TOTAL |
62.144 |
43.603 |
40.242 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Revenue from operations |
80.086 |
67.977 |
64.490 |
|
|
Other Income |
1.846 |
1.777 |
0.057 |
|
|
TOTAL
(A) |
81.932 |
69.754 |
64.547 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
44.407 |
40.256 |
39.479 |
|
|
Purchases of Stock-in-Trade |
0.000 |
0.000 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
0.404 |
(0.572) |
0.618 |
|
|
Employees benefits expense |
3.846 |
3.550 |
3.855 |
|
|
Other expenditure |
24.985 |
16.777 |
12.737 |
|
|
TOTAL
(B) |
73.642 |
60.011 |
56.689 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
8.290 |
9.743 |
7.858 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
3.378 |
3.135 |
2.021 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
4.912 |
6.608 |
5.837 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
3.181 |
3.604 |
2.793 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
1.731 |
3.004 |
3.044 |
|
|
|
|
|
|
|
Less |
TAX
(H) |
0.544 |
1.799 |
0.142 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H)
(I) |
1.187 |
1.205 |
2.902 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
5.408 |
3.581 |
NA |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
6.595 |
4.786 |
NA |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
USD |
43110 |
40770 |
80388 |
|
|
TOTAL
EARNINGS |
43110 |
40770 |
80388 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
1.54 |
1.56 |
3.87 |
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
160.000 |
Expected Sales ( 2014-2015 ) : Rs.200.000 Millions
The above information has been parted by Mr. Suketa.
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.45 |
1.73 |
4.50 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.16 |
4.42 |
4.72 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.79 |
6.89 |
7.56 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.12 |
0.24 |
0.27 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.88 |
2.06 |
2.49 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.04 |
1.30 |
2.12 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
7.500 |
7.700 |
7.700 |
|
Reserves & Surplus |
3.581 |
4.786 |
6.595 |
|
Net
worth |
11.081 |
12.486 |
14.295 |
|
|
|
|
|
|
long-term borrowings |
19.175 |
12.975 |
26.895 |
|
Short term borrowings |
8.409 |
12.741 |
14.271 |
|
Total
borrowings |
27.584 |
25.716 |
41.166 |
|
Debt/Equity
ratio |
2.489 |
2.060 |
2.880 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Revenue from operations |
64.490 |
67.977 |
80.086 |
|
|
|
5.407 |
17.813 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Revenue from operations |
64.490 |
67.977 |
80.086 |
|
Profit/(Loss) After Tax |
2.902 |
1.205 |
1.187 |
|
|
4.50% |
1.77% |
1.48% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM BORROWING
|
Particulars |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
|
Current Maturities of Long Term Borrowing |
3.100 |
3.100 |
NA |
|
|
|
|
|
|
Total |
3.100 |
3.100 |
NA |
|
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 |
Yes |
|
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 |
---- |
|
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 |
No |
VIEW INDEX OF
CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10171425 |
29/02/2012 * |
23,300,000.00 |
UNION BANK OF
INDIA |
C.G.ROAD
BRANCH,CHIMANLAL GIRDHARDAS Rd.,, 424/11 |
B35250018 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Loans and Advances
from directors |
|
|
|
Kirit Ranchhodbhai Chaudhari |
16.420 |
0.500 |
|
Rajat Kirit Chaudhari |
2.300 |
1.400 |
|
Savita Kirit Chaudhari |
0.200 |
0.116 |
|
Loans and Advances
from others |
|
|
|
Hemant Desai |
0.300 |
0.300 |
|
Manoj J Nayak HUF |
0.500 |
0.500 |
|
Narayanbhai Chaudhari |
0.950 |
0.950 |
|
Palak Chaudhari |
0.400 |
0.285 |
|
Parul Hemant Desai |
0.400 |
0.400 |
|
Yash Fincap Limited |
3.100 |
3.100 |
|
|
|
|
|
Total |
24.570 |
7.551 |
PERFORMANCE REVIEW
During the year, the company has achieved a turnover of Rs. 80.086
Millions and earned a profit of Rs. 1.187 Millions after provisions of tax
expenditure.
FIXED ASSETS
·
Air Conditioner
·
Air Cooler
·
Bag Cooler Machine
·
Boiler Shed
·
Computer And Printer
·
Fax
·
Fire Cabinate
·
Furniture
·
Godown Shed
·
Hydraulic Taller
·
Security Camera
·
Plant and Machinery
·
Auto Cooler
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.61.04 |
|
|
1 |
Rs.98.64 |
|
Euro |
1 |
Rs.77.74 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
SNT |
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 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
30 |
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.