MIRA INFORM REPORT
|
Report Date : |
29.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
IAC
ELECTRICALS PRIVATE LIMITED |
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|
|
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Registered Office : |
701,
Central Plaza, 2/6, Sarat Bose Road, Kolkata – 700 020, West Bengal |
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Country : |
India
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|
|
|
Financials (as on) : |
31.03.2014 |
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|
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Date of Incorporation : |
27.01.1987 |
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Com. Reg. No.: |
21-041799 |
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|
|
|
Capital Investment / Paid-up Capital : |
Rs.22.419
Millions |
|
|
|
|
CIN No.: [Company Identification No.] |
U31102WB1987PTC041799 |
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|
|
|
TAN No.: [Tax Deduction & Collection Account No.] |
CALI00177C |
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|
|
|
PAN No.: [Permanent Account No.] |
AAACI6040B |
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|
|
|
Legal Form : |
Private
Limited Liability Company |
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|
|
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Line of Business : |
Manufacturing
and Exporting of Power Transmission Line Hardware and Accessories. |
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|
|
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No. of Employees : |
200
(Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba
(47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall
operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
Status : |
Satisfactory
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Payment Behaviour : |
Usually
Correct |
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Litigation : |
Clear
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Comments : |
Subject is a well-established
company having satisfactory track. The company
possesses an above average financial profile marked by adequate networth
base, low gearing and healthy debt protection metrics along with moderate
working capital needs during the year under review. Management has
witnessed a better increase in its sales volume as well as net profitability,
along with reporting a decent margin from its business operations during
FY14. The relations are fair.
Business is active. Payment terms are reported as usually correct. In view of
extensive experience of the promoters, the company can be considered for
business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made on
e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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 |
CRISIL |
|
Rating |
BBB – [Long Term] |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
June 12, 2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A3 [Short Term] |
|
Rating Explanation |
Moderate degree of safety and high credit risk. |
|
Date |
June 12, 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.
Abhishek |
|
Designation : |
Account/
Finance Department |
|
Contact No.: |
91-33-24858814 |
|
Date : |
27.10.2014 |
LOCATIONS
|
Registered Office/ Headquarters : |
701,
Central Plaza, 2/6, Sarat Bose Road, Kolkata – 700 020, West Bengal, India |
|
Tel. No.: |
91-33-24858814/
15/ 16/ 17 |
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Fax No.: |
91-33-24858820
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E-Mail : |
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Website : |
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Factory Unit 1 : |
6/1,
Bamacharan Roy Road, Behala, Kolkata – 700 034, West Bengal, India |
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Factory Unit 2 : |
Sankrail
Industrial Park (Plot No.53), Village - Jaladhulagori P.O. – Dhulagori,
Bombay Road (NH – 6), Howrah – 711 302, West Bengal, India |
DIRECTORS
AS ON 28.09.2013
|
Name : |
Mr.
Man Mohan Garodia |
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Designation : |
Director |
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Address : |
FE-384,
Sector - III, Salt Lake City, Kolkata – 700 106, West Bengal, India |
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Date of Birth/Age : |
27.10.1942 |
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Date of Appointment : |
27.01.1987 |
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PAN No.: |
ADSPG3447Q |
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DIN No.: |
00825672 |
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Other Directorship :
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Name : |
Mr.
Brij Mohan Garodia |
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Designation : |
Director |
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|
Address : |
9A,
Ananda Building, 116, Southern Avenue, Kolkata – 700 029, West Bengal, India |
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Date of Birth/Age : |
20.01.1948
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Date of Appointment : |
31.03.2010 |
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PAN No.: |
ADDPG2527J |
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DIN No.: |
01917787 |
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Other Directorship :
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Name : |
Mr.
Nishant Garodia |
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Designation : |
Director |
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|
Address : |
FE-384,
Sector - III, Salt Lake City, Kolkata – 700 106, West Bengal, India |
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Date of Birth/Age : |
06.08.1975 |
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Date of Appointment : |
31.03.2010 |
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PAN No.: |
ADQPG4997H |
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DIN No.: |
01981888 |
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Other Directorship :
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Name : |
Mr.
Adarsh Garodia |
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Designation : |
Director |
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|
Address : |
9A,
Ananda Building, 116, Southern Avenue, Kolkata – 700 029, West Bengal, India |
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Date of Birth/Age : |
06.10.1976
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Date of Appointment : |
31.03.2010 |
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PAN No.: |
ADCPG2521P |
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DIN No.: |
01917780 |
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Other Directorship :
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KEY EXECUTIVES
|
Name : |
Mr.
Abhishek |
|
Designation : |
Account/
Finance Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Man
Mohan Garodia |
|
8821 |
|
Brij
Mohan Garodia |
|
10622 |
|
Nishant
Garodia |
|
13771 |
|
Adarsh
Garodia |
|
7072 |
|
Man
Mohan Garodia and Sons HUF |
|
2010 |
|
Brij
Mohan Garodia and Sons HUF |
|
4728 |
|
Bimala
Garodia |
|
7797 |
|
Neera
Garodia |
|
16175 |
|
Ashish
Garodia |
|
8091 |
|
Tani
Garodia |
|
2400 |
|
Meenakshi
Garodia |
|
3400 |
|
Endeavour
Vyapaar Private Limited, India |
|
84502 |
|
Rebati
Agencies Private Limited, India |
|
54800 |
|
|
|
|
|
TOTAL
|
|
224189 |
AS ON 28.09.2013
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Bodies corporate |
|
62.14 |
|
Directors or relatives of directors |
|
37.86 |
|
TOTAL |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing
and Exporting of Power Transmission Line Hardware and Accessories. |
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Products : |
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Exports : |
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Products : |
Finished
Goods |
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Countries : |
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Terms
: |
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Selling : |
Cash
and Credit |
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Purchasing : |
Cash
and Credit |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
200
(Approximately) |
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Bankers : |
|
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|
|
||||||||||||
|
Facilities : |
Cash
Credit = Rs.100.000 Millions [Union Bank of India] Bank
Guarantee = Rs.100.000 Millions [Union Bank of India]
|
|
|
|
|
Banking Relations : |
-- |
|
|
|
|
Financial
Institution : |
3I
Infotech Trusteeship Services Limited, 3rd to 6th floor, International
Infotech Park, Tower No.5, Vashi Railway Station Complex, Vashi, Navi Mumbai
- 400703, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
O.P.
Harlalka and Company Chartered
Accountants |
|
Address : |
12,
B.B.D. Bag (East), Kolkata – 700 001, West Bengal, India |
|
Tel. No.: |
91-33-22306805 |
|
Fax No.: |
91-33-22300808 |
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E-Mail : |
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|
Website : |
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|
PAN No: |
AAAFO5385J |
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|
Associate : |
|
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
250000 |
Equity
Shares |
Rs.100/-
each |
Rs.25.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
224189 |
Equity
Shares |
Rs.100/-
each |
Rs.22.419
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 |
22.419 |
22.419 |
22.419 |
|
(b)
Reserves & Surplus |
348.566 |
260.540 |
202.029 |
|
(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) |
370.985 |
282.959 |
224.448 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a)
long-term borrowings |
90.067 |
80.218 |
79.919 |
|
(b) Deferred tax
liabilities (Net) |
3.690 |
3.752 |
2.994 |
|
(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) |
93.757 |
83.970 |
82.913 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
89.933 |
67.170 |
14.717 |
|
(b) Trade payables |
301.586 |
292.063 |
98.752 |
|
(c) Other current
liabilities |
102.561 |
93.112 |
85.059 |
|
(d) Short-term provisions |
0.515 |
0.472 |
0.397 |
|
Total Current Liabilities (4) |
494.595 |
452.817 |
198.925 |
|
|
|
|
|
|
TOTAL |
959.337 |
819.746 |
506.286 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
92.285 |
77.652 |
61.704 |
|
(ii) Intangible
Assets |
0.000 |
1.359 |
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 |
1.088 |
1.087 |
1.088 |
|
(c)
Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and
Advances |
0.115 |
0.175 |
0.248 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
93.488 |
80.273 |
63.040 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current
investments |
0.000 |
0.000 |
0.158 |
|
(b) Inventories |
377.357 |
341.956 |
166.773 |
|
(c) Trade
receivables |
401.514 |
330.636 |
248.695 |
|
(d) Cash and cash
equivalents |
34.381 |
18.117 |
6.210 |
|
(e) Short-term
loans and advances |
52.597 |
48.764 |
21.410 |
|
(f) Other current
assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
865.849 |
739.473 |
443.246 |
|
|
|
|
|
|
TOTAL |
959.337 |
819.746 |
506.286 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
1353.489 |
946.374 |
951.757 |
|
|
Other Income |
11.684 |
10.597 |
NA |
|
|
TOTAL (A) |
1365.173 |
956.971 |
NA |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
996.267 |
781.093 |
|
|
|
Purchases of Stock-in-Trade |
0.000 |
0.000 |
|
|
|
Changes in inventories of finished goods, work-in-progress and
Stock-in-Trade |
(42.324) |
(145.601) |
|
|
|
Employees benefits expense |
29.233 |
23.369 |
|
|
|
Other expenditure |
213.408 |
180.027 |
|
|
|
TOTAL (B) |
1196.584 |
838.888 |
NA |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION (C) |
168.589 |
118.083 |
87.392 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
23.126 |
22.220 |
14.252 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION
AND AMORTISATION (C-D) (E) |
145.463 |
95.863 |
73.140 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
11.424 |
9.264 |
6.964 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX (E-F) (G) |
134.039 |
86.599 |
66.176 |
|
|
|
|
|
|
|
Less |
TAX (H) |
46.013 |
28.088 |
21.467 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
(G-H) (I) |
88.026 |
58.511 |
44.709 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE BROUGHT
FORWARD |
230.647 |
172.136 |
127.427 |
|
|
|
|
|
|
|
BALANCE CARRIED TO THE B/S |
318.673 |
230.647 |
172.136 |
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN CURRENCY |
NA |
NA
|
3.453 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per Share (Rs.) |
393.00 |
261.00 |
199.43 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT /
Total Income |
(%) |
6.45 |
6.11 |
6.95 |
|
|
|
|
|
|
|
Net
Profit Margin (PBT/Sales) |
(%) |
9.90 |
9.15 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
13.99 |
10.58 |
13.10 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.36 |
0.31 |
0.29 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.49 |
0.52 |
0.42 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.75 |
1.63 |
2.23 |
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 |
22.419 |
22.419 |
22.419 |
|
Reserves & Surplus |
202.029 |
260.540 |
348.566 |
|
Net
worth |
224.448 |
282.959 |
370.985 |
|
|
|
|
|
|
long-term borrowings |
79.919 |
80.218 |
90.067 |
|
Short term borrowings |
14.717 |
67.170 |
89.933 |
|
Total
borrowings |
94.636 |
147.388 |
180.000 |
|
Debt/Equity ratio |
0.422 |
0.521 |
0.485 |
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 |
951.757 |
946.374 |
1353.489 |
|
|
|
(0.566) |
43.018 |
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 |
951.757 |
946.374 |
1353.489 |
|
Profit |
44.709 |
58.511 |
88.026 |
|
|
4.70% |
6.18% |
6.50% |
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 |
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] |
PAN
of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth 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 CHARGES:
|
S. NO. |
CHARGE
ID |
DATE OF
CHARGE CREATION/MODIFICATION |
CHARGE
AMOUNT SECURED |
CHARGE
HOLDER |
ADDRESS |
SERVICE
REQUEST NUMBER (SRN) |
|
1 |
10295129 |
29/09/2012
* |
150,000,000.00 |
STATE
BANK OF BIKANER AND JAIPUR |
PARK
STREET BRANCH, 20B, PARK STREET, KOLKATA, WEST BENGAL - 700016, INDIA |
B62544788 |
|
2 |
10295132 |
16/05/2011 |
70,000,000.00 |
STATE
BANK OF BIKANER AND JAIPUR |
PARK
STREET BRANCH, 20B, PARK STREET, KOLKATA, WEST BENGAL - 700016, INDIA |
B16173999 |
|
* Date of charge
modification |
||||||
|
Unsecured Loan |
As
on 31.03.2014 [Rs.
in Millions] |
As
on 31.03.2013 [Rs.
in Millions] |
|
Long Term
Borrowings |
|
|
|
Loans
and Advances From Related Parties |
NA |
80.000 |
|
Other
Loans and Advances |
NA |
0.218 |
|
TOTAL
|
NA |
80.218 |
FIXED ASSETS:
- Freehold Land
- Building
- Plant and
Equipment
- Furniture and
Fixtures
- Vehicles
- Office Equipment
- Computers
- Electrical
Fittings
CMT REPORT (Corruption, Money Laundering & Terrorism]
The
Public Notice information has been collected from various sources including but
not limited to: The Courts, India Prisons Service, Interpol, etc.
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.61.35 |
|
UK
Pound |
1 |
Rs.98.93 |
|
Euro |
1 |
Rs.77.92 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis done by : |
SUB |
|
|
|
|
Report Prepared by
: |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE
FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP
CAPITAL |
1~10 |
5 |
|
OPERATING
SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS
SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT
LINES |
1~10 |
5 |
|
--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 |
|
--RBI
|
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
47 |
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.