MIRA
INFORM REPORT
|
Report Date : |
05.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
CMI
INDUSTRY AUTOMATION PRIVATE LIMITED (w.e.f.
19.01.2009) |
|
|
|
|
Formerly Known
As : |
NT
STRIPS AND AUTOMATION PRIVATE LIMITED |
|
|
|
|
Registered Office
: |
Mehta House, Plot No. 64, Road No. 13, MIDC Industrial,
Area, Marol, Andheri
(East), Mumbai - 400093, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
10.11.1997 |
|
|
|
|
Com. Reg. No.: |
11-111815 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 4.006 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29223MH1997PTC111815 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Automation System |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered for business dealing 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.
INDIAN ECONOMIC OVERVIEW
N E W S
As per the latest IMF study, the total weigh of emerging markets in the
GDP of the world on a purchasing power parity basis has seen a sizeable shift.
It highlights how as against 51 % in 2005, the emerging economies now account
for close to 56 % of the global purchasing power GDP as per the latest survey.
And with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the their share goes up further
in the coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The
prospects of the India’s economy have been seriously compromised due to
political corruption. High inflation, poor standard of living are to a great
extent a result of rampant corruption in the country. China on the other hand,
seems to be facing diametrically opposite challenge. American hedge fund
manager Jim Chanos has been keenly following the
political and economic development in the dragon economy and has figured out
something that is quite worrying. He is of the view that the Chinese economy
could be heading toward trouble on account of new Chinese President Xi Jingping’s very aggressive anti-corruption drive. Chanos believes tat many things such as apartment sales,
luxury products, etc. were largely bought with dirty money. And it is now
beginning to impact consumption. This may indeed be bad news for an economy
that is struggling to transition from an investment-driven export-oriented
economy to a domestic consumption-driven economy.
A study published by Firstpost has revealed
that asset classes like real estate and equities were the biggest beneficiaries
of the liberalization policies. A firm called Ciane
Analytics studied returns from assets including equities, gold, fixed deposits,
G-Secs and real estate since 1991. Real estate
outperformed every other asset classes during the 23-year period with an
annualized return of 20 % ! Equities came in second with annualized return of
15.5 % ! However, while these returns may seem mouthwatering, the fact is that
the return from equities adjusted for inflation came down to just 7.1 %.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
. India seeks MFN status from Pakistan ahead of meeting
. Ukrain’s clashes with rebels hinder MH17
crash investigation
. India exploring merger of state-owned hydro PSUs
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs 10000 mn.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating = BBB |
|
Rating Explanation |
Have moderate degree of safety and carry moderate credit risk. |
|
Date |
09.04.2014 |
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 DECLINED
Management Non Co-operative (91-22-64579410 / 404)
LOCATIONS
|
Registered Office : |
Mehta House, Plot No. 64, Road No. 13, MIDC Industrial, Area,
Marol, Andheri (East),
Mumbai - 400093, Maharashtra, India |
|
Tel. No.: |
91-22-66762727 |
|
Fax No.: |
91-22-66762737 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Workshop-1 : |
A/84-2/3, MIDC, Taloja Industrial Area, District Raigad- 410 208, Maharashtra, India |
|
Tel. No.: |
91-22-66731500 |
|
Fax No.: |
91-22-27410664 |
|
|
|
|
Workshop-2 : |
Sr. No. 144/1/3, Opposite Bhilosa
Textile, Near Alok Industries Vill - Rakholi, |
|
Tel. No.: |
91-260-6451263 / 264 |
|
Fax No.: |
91-260-2641259 |
|
|
|
|
Workshop-3 : |
Gat No. 21, 41 and 61, Village Hedavali, Khopoli-Pali Road, Taluka Sudhgad, District Raigad – 410205, Maharashtra, India |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Satish Balasaheb
Avhad |
|
Designation : |
Director |
|
Address : |
603/604, Shantiniketan, 24/B, Riverwood Park, Sagarli Gaon, Kalyan Shil Road, Thane – 400612, Maharashtra, India |
|
Date of Birth/Age : |
09.02.1959 |
|
Date of Appointment : |
30.08.2010 |
|
DIN No.: |
03189384 |
|
|
|
|
Name : |
Mr. Vijay Karayi |
|
Designation : |
Director |
|
Address : |
Flat No 404, B-Wing, NG Complex Bldg. Off Military Road, Marol, Andheri East, Mumbai – 400072, Maharashtra, India |
|
Date of Birth/Age : |
14.08.1958 |
|
Date of Appointment : |
15.07.2010 |
|
DIN No.: |
03205103 |
|
|
|
|
Name : |
Mr. Hemant Agarwal |
|
Designation : |
Director |
|
Address : |
RDC-32, Raj Nagar,
Ghaziabad – 201002, Uttar Pradesh, India |
|
Date of Birth/Age : |
12.02.1966 |
|
Date of Appointment : |
17.10.2012 |
|
DIN No.: |
01894578 |
|
|
|
|
Name : |
Mr. Deepak Khanna |
|
Designation : |
Director |
|
Address : |
H. No. E-802, Ambiance Lagoon Apartment, Ambiance Island, NH-8, Gurgaon – 122002, Haryana,
India |
|
Date of Birth/Age : |
08.08.1964 |
|
Date of Appointment : |
08.08.2013 |
|
DIN No.: |
06653222 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Cockerill Maintenance and Ingenierie
SA, Belgium |
|
400599 |
|
Cockerill Maintenance and Ingenierie
SA, Belgium Jointly with Yves Honhon |
|
1 |
|
Total |
|
400600 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial
institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Automation System |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
|||||||||||||||
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|
|||||||||||||||
|
Bankers : |
· Yes Bank Limited, 9th Floor, Nehru Centre, Discovery Of India, Dr. Annie Besant Road, Worli,, Mumbai - 400018, Maharashtra, India · Ing Vysya Bank Limited, 103/104,'A' Wing,I Floor, Floral Deck Plaza, MIDC Central Road, Andheri (East), Mumbai - 400093, Maharashtra, India |
|||||||||||||||
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|||||||||||||||
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Facilities : |
(Rs. In Millions)
|
|
|
|
|
Banking Relations
: |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
Heritage, 3rd Floor, Near Gujarat Vidhyapith,
Off Ashram Road, Ahmedabad – 380014, Gujarat, India
|
|
Tel. No.: |
91-79-27582542 / 27582543 |
|
Fax No.: |
91-79-27582551 |
|
PAN No.: |
AABFD7919A |
|
|
|
|
Holding Company : |
Cockerill Maintenance and Ingenierie
SA |
|
|
|
|
Fellow Subsidiaries (With whom Company has made transactions during
the year ) |
·
CMI FPE Limited ·
CMI Engineering (Beljing)
Company ·
CMI EPTI |
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
400600 |
Equity Shares |
Rs.10/- each |
Rs.4.006
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
4.006 |
4.006 |
4.006 |
|
(b) Reserves & Surplus |
121.441 |
98.403 |
50.508 |
|
(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) |
125.447 |
102.409 |
54.514 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
8.700 |
8.700 |
0.703 |
|
(d) long-term provisions |
7.941 |
4.268 |
2.902 |
|
Total Non-current Liabilities (3) |
16.641 |
12.968 |
3.605 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
30.000 |
0.000 |
9.507 |
|
(b) Trade payables |
111.883 |
95.424 |
57.196 |
|
(c) Other current
liabilities |
88.315 |
78.345 |
107.353 |
|
(d) Short-term provisions |
2.270 |
3.282 |
2.961 |
|
Total Current Liabilities (4) |
232.468 |
177.051 |
177.017 |
|
|
|
|
|
|
TOTAL |
374.556 |
292.428 |
235.136 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
55.305 |
59.360 |
65.643 |
|
(ii) Intangible Assets |
0.592 |
0.473 |
0.048 |
|
(iii) Capital
work-in-progress |
0.146 |
0.000 |
0.000 |
|
(iv) Intangible
assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.352 |
0.352 |
0.352 |
|
(c) Deferred tax assets (net) |
3.386 |
3.003 |
0.000 |
|
(d) Long-term Loan and Advances |
7.842 |
3.957 |
6.001 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
67.623 |
67.145 |
72.044 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
187.449 |
103.687 |
111.551 |
|
(c) Trade receivables |
27.050 |
69.051 |
2.582 |
|
(d) Cash and cash
equivalents |
29.786 |
20.741 |
25.676 |
|
(e) Short-term loans and
advances |
26.793 |
29.769 |
22.579 |
|
(f) Other current assets |
35.855 |
2.035 |
0.704 |
|
Total Current Assets |
306.933 |
225.283 |
163.092 |
|
|
|
|
|
|
TOTAL |
374.556 |
292.428 |
235.136 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
583.713 |
437.042 |
226.053 |
|
|
|
Other Income |
3.425 |
4.282 |
1.864 |
|
|
|
TOTAL (A) |
587.138 |
441.324 |
227.917 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
318.935 |
161.751 |
133.215 |
|
|
|
Purchases of Stock-in-Trade |
86.904 |
93.231 |
0.731 |
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(29.446) |
7.689 |
(12.996) |
|
|
|
Employees benefits expense |
59.395 |
36.015 |
29.553 |
|
|
|
Other expenses |
106.638 |
65.739 |
60.113 |
|
|
|
TOTAL (B) |
542.426 |
364.425 |
210.616 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
44.712 |
76.899 |
17.301 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1.877 |
3.149 |
1.088 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
42.835 |
73.750 |
16.213 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
6.530 |
6.867 |
7.804 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
36.305 |
66.883 |
8.409 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
13.268 |
18.988 |
1.850 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
23.037 |
47.895 |
6.559 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
67.050 |
19.155 |
12.596 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
90.087 |
67.050 |
19.155 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
F.O.B. Value of Export |
32.875 |
143.558 |
21.512 |
|
|
|
Export Services |
0.419 |
0.754 |
0.480 |
|
|
TOTAL EARNINGS |
33.294 |
144.312 |
21.992 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials, Components |
11.712 |
14.307 |
7.939 |
|
|
TOTAL IMPORTS |
11.712 |
14.307 |
7.939 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
57.51 |
119.56 |
16.37 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
3.92 |
10.85 |
2.88 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.22 |
15.30 |
3.72 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.79 |
23.14 |
3.58 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.29 |
0.65 |
0.15 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.24 |
0.00 |
0.17 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.32 |
1.27 |
0.92 |
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 |
4.006 |
4.006 |
4.006 |
|
Reserves & Surplus |
50.508 |
98.403 |
121.441 |
|
Net
worth |
54.514 |
102.409 |
125.447 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
9.507 |
0.000 |
30.000 |
|
Total
borrowings |
9.507 |
0.000 |
30.000 |
|
Debt/Equity
ratio |
0.174 |
0.000 |
0.239 |
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) |
|
Sales |
226.053 |
437.042 |
583.713 |
|
|
|
93.336 |
33.560 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
226.053 |
437.042 |
583.713 |
|
Profit |
6.559 |
47.895 |
23.037 |
|
|
2.90% |
10.96% |
3.95% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF
LONG-TERM DEBT: NOT AVAILABLE
|
Sr. No. |
Check List by Info
Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
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 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 |
No |
|
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 |
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 |
CORPORATE
INFORMATION:
Subject has been incorporated in India on November 10, 1997 as a Private Company. The principal activities of the Company comprise manufacturer of Automation System - Automatic Gauge Control System, SPM Elongation System, Web Guide System, Process Line Automation, Mill Automation System and equipments/components for cold rolling mills, slitting lines, galvanizing lines, pickling lines, stretch leveling lines and other metal processing arid finishing lines.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10412837 |
28/06/2013 * |
70,000,000.00 |
ING VYSYA BANK LIMITED |
C-12, G BLOCK,, BANDRA KURLA COMPLEX, BANDRA EAST, MUMBAI, MAHARASHTRA - 400051, INDIA |
B79944716 |
|
2 |
10249795 |
29/06/2013 * |
75,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. |
B79628897 |
* Date of charge modification
FIXED ASSETS
· Land
· Building
· Plant and Machinery
· Electrical Installations
· Furniture and Fixtures
· Office Equipment
· Computer
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.60.54 |
|
|
1 |
Rs.99.73 |
|
Euro |
1 |
Rs.79.54 |
INFORMATION DETAILS
|
Information Gathered
by : |
PRT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NTH |
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 |
5 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
45 |
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.