MIRA INFORM REPORT
|
Report No. : |
316050 |
|
Report Date : |
06.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
SOUND CASTINGS PRIVATE LIMITED |
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Registered
Office : |
E-2 Shiroli Industrial Area, MIDC Shiye, Karveer, Kolhapur – 416022,
Maharashtra |
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|
Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
20.10.1987 |
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Com. Reg. No.: |
11-045065 |
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Capital Investment
/ Paid-up Capital : |
Rs.120.000 Million |
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CIN No.: [Company Identification
No.] |
U27310MH1987PTC045065 |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
KLPS04566C |
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PAN No.: [Permanent Account No.] |
AACCS5263N |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The Company is exclusively engaged in the activity of
manufacturing machined and un-machined castings and C. I. Castings and automotive components
for commercial vehicles, utility vehicles and tractors. |
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|
|
|
No. of Employees
: |
1000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
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 undertakes casting of automotive components, mainly for
commercial vehicles, utility vehicles and tractors. It is an established
company having satisfactory track record. The rating reflects the extensive experience of SCPL’s promoters in
the automotive component industry and its sound track record of its business
operations. Further rating also takes into consideration company’s healthy
financial risk profile marked by favorable profitability margins and fair
liquidity position of the company. Trade relations are fair. Business is active. Payments are reported to
be usually correct. The company can be considered for business dealings at usual trade
terms and condition. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISL |
|
Rating |
Long term rating: BBB |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
30.10.2014 |
|
Rating Agency Name |
CRISL |
|
Rating |
Short term rating: A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
30.10.2014 |
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. Sagar Methe |
|
Designation : |
Assistant Manager – Account |
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Contact No.: |
91-230-2468232 |
|
Date : |
04.04.2015 |
LOCATIONS
|
Registered Office/ Factory 1 : |
E-2 Shiroli Industrial Area, MIDC Shiye, Karveer, Kolhapur – 416022,
Maharashtra, India |
|
Tel. No.: |
91-230-2469762/2468232/2469662 |
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Fax No.: |
91-230-2468219/2468219 |
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E-Mail : |
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Website : |
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Factory 2 : |
C 10, Kagal Five Star, MIDC, Kagal, Kolhapur – 416216, Maharashtra,
India |
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Factory 3 : |
151/1 KATP Industrial Estate, Taluka Hatkanangale,
Kolhapur - 416121 |
DIRECTORS
AS ON 26.07.2014
|
Name : |
Mr. Ravindra Krishnarao Kalkundri |
|
Designation : |
Whole-time director |
|
Address : |
Plot No.: 37, Block No.2, Usha Enclave, Nimbalkar Colony, Kolhapur –
416003, Maharashtra, India |
|
Date of Birth/Age : |
10.03.1957 |
|
Date of Appointment : |
03.01.1995 |
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DIN No.: |
00133285 |
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|
Name : |
Mr. Umesh Krishnaji Deshpande |
|
Designation : |
Whole-time director |
|
Address : |
C.S. No. 821/2/5 PL No 2E, E Ward, Tarabai Park, Kolhapur –
416003, Maharashtra, India |
|
Date of Birth/Age : |
14.03.1949 |
|
Date of Appointment : |
10.11.1987 |
|
DIN No.: |
00133293 |
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|
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Name : |
Mr. Vilas Narayan Deshpande |
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Designation : |
Director |
|
Address : |
Indira Narayan, Plot No. 8, Kasbekar Park, Kolhapur – 416003,
Maharashtra, India |
|
Date of Birth/Age : |
02.01.1947 |
|
Date of Appointment : |
20.10.1987 |
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DIN No.: |
00138127 |
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|
Name : |
Mr. Anand Vilas Deshpande |
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Designation : |
Managing director |
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Address : |
Indira Narayan, Plot No. 8, Kasbekar Park, Kolhapur – 416003, Maharashtra,
India |
|
Date of Birth/Age : |
01.03.1972 |
|
Date of Appointment : |
08.04.2007 |
|
DIN No.: |
00138169 |
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|
|
|
Name : |
Mr. Nandkumar Shriram Wagh |
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Designation : |
Director |
|
Address : |
Plot No. 9 To 11, E Ward, Patolewadi, Near Mukta Sainik Vasahat, Laxmi
Narayan Nagar, Kolhapur – 416003, Maharashtra, India |
|
Date of Birth/Age : |
12.05.1944 |
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Date of Appointment : |
01.04.2009 |
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DIN No.: |
01439932 |
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Name : |
Mr. Abhijeet Vilas Deshpande |
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Designation : |
Whole-time director |
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Address : |
8 CS No. 148/A/1 E, Bunglow No. D/2, Royal Green Field, Kolhapur – 416003, Maharashtra, India |
|
Date of Birth/Age : |
27.03.1976 |
|
Date of Appointment : |
28.09.2007 |
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DIN No.: |
01472011 |
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|
|
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Name : |
Mr. Makrand Nandkumar Wagh |
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Designation : |
Director |
|
Address : |
Shriram Bangala, R S No.243/1, Plot No. 9 To 11, E Ward, Patolewadi,
Near Mukta Sainik Vasahat, Laxmi Narayan Nagar, Kolhapur – 416003, Maharashtra,
India |
|
Date of Birth/Age : |
25.09.1981 |
|
Date of Appointment : |
30.08.2012 |
|
DIN No.: |
05346635 |
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|
|
|
Name : |
Mr. Jayesh Umesh Deshpande |
|
Designation : |
Director |
|
Address : |
‘Madhavi’, C.S. No. 821/2/5 Plot No. 2, E Ward, Tarabai Park, Kolhapur – 416003, Maharashtra, India |
|
Date of Birth/Age : |
10.10.1980 |
|
Date of Appointment : |
27.07.2013 |
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DIN No.: |
06570448 |
KEY EXECUTIVES
|
Name : |
Mr. Sagar Methe |
|
Designation : |
Assistant Manager – Account |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 26.07.2014
SHAREHOLDING DETAIL FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
AS ON 26.07.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
99.00 |
|
Other top fifty shareholders |
1.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is exclusively engaged in the activity of
manufacturing machined and un-machined castings and C. I. Castings and automotive components
for commercial vehicles, utility vehicles and tractors. |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
USA |
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Imports : |
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Products : |
Machinery |
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Countries : |
Japan |
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Terms : |
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Selling : |
Cash and Credit (30 days / 60 days / 90 days) |
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Purchasing : |
Cash and Credit (30 days / 60 days / 90 days) |
PRODUCTION STATUS : NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
1000 (Approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Khadilkar Ranade and Limaye Chartered Accountants |
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Address : |
G-4, Royal Courts, Panch Bunglow, Shahupuri, Kolhapur-416001,
Maharashtra, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAGFK7705A |
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Companies controlled by Directors / Subsidiary Company: |
Sound Die Castings Private Limited [U27310PN2011PTC138985] |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 150.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 120.000
Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
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|
|
|
(a) Share Capital |
120.000 |
110.000 |
100.000 |
|
(b) Reserves & Surplus |
545.651 |
443.295 |
392.595 |
|
(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) |
665.651 |
553.295 |
492.595 |
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(3)
Non-Current Liabilities |
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|
|
|
(a) long-term borrowings |
400.265 |
479.379 |
561.230 |
|
(b) Deferred tax liabilities (Net) |
94.861 |
89.820 |
68.003 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
149.109 |
|
(d) long-term
provisions |
0.000 |
0.504 |
0.549 |
|
Total Non-current
Liabilities (3) |
495.126 |
569.703 |
778.891 |
|
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|
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(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
76.830 |
74.717 |
39.354 |
|
(b) Trade payables |
146.348 |
160.690 |
0.000 |
|
(c) Other current
liabilities |
203.292 |
174.389 |
199.626 |
|
(d) Short-term
provisions |
26.515 |
15.105 |
21.231 |
|
Total Current
Liabilities (4) |
452.985 |
424.901 |
260.211 |
|
|
|
|
|
|
TOTAL |
1613.762 |
1547.899 |
1531.697 |
|
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|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1068.618 |
1108.191 |
964.622 |
|
(ii) Intangible Assets |
5.534 |
2.311 |
2.640 |
|
(iii) Capital
work-in-progress |
0.527 |
2.530 |
113.660 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.125 |
1.125 |
2.125 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
20.235 |
13.457 |
22.496 |
|
(e) Other
Non-current assets |
3.352 |
34.598 |
26.755 |
|
Total Non-Current
Assets |
1098.391 |
1162.212 |
1132.298 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
168.908 |
139.312 |
110.607 |
|
(c) Trade receivables |
267.885 |
211.118 |
224.271 |
|
(d) Cash and cash
equivalents |
51.448 |
12.870 |
21.893 |
|
(e) Short-term loans
and advances |
27.130 |
22.387 |
42.628 |
|
(f) Other current
assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
515.371 |
385.687 |
399.399 |
|
|
|
|
|
|
TOTAL |
1613.762 |
1547.899 |
1531.697 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
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|
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|
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|
Net Sales Turnover |
2330.900 |
2173.400 |
2148.500 |
|
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Profit after tax |
112.200 |
57.100 |
103.000 |
|
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Cash Generation |
253.800 |
186.000 |
200.500 |
|
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APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
2.500 |
2.500 |
4.500 |
|
|
|
Dividend with corporate tax thereon |
9.800 |
6.400 |
11.600 |
|
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|
|
|
|
|
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|
Earnings Per
Share (Rs.) |
9.35 |
5.47 |
10.30 |
|
Expected Sales ( 2014-2015 ) : Rs.2700.000 Million
The above information has been parted by Mr. Sagar Mathe.
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin |
(%) |
4.81 |
2.63 |
4.79 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.72 |
1.00 |
1.22 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.14 |
0.91 |
1.53 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
100.000 |
110.000 |
120.000 |
|
Reserves & Surplus |
392.595 |
443.295 |
545.651 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
492.595 |
553.295 |
665.651 |
|
|
|
|
|
|
long-term borrowings |
561.230 |
479.379 |
400.265 |
|
Short term borrowings |
39.354 |
74.717 |
76.830 |
|
Total borrowings |
600.584 |
554.096 |
477.095 |
|
Debt/Equity ratio |
1.219 |
1.001 |
0.717 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
2148.500 |
2173.400 |
2330.900 |
|
|
|
1.159 |
7.247 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
2148.500 |
2173.400 |
2330.900 |
|
Profit |
103.000 |
57.100 |
112.200 |
|
|
4.79% |
2.63% |
4.81% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS:
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
(Rs. In Million) |
||
|
Current maturities of long-term debt |
133.097 |
119.918 |
156.435 |
|
|
|
|
|
|
Total |
133.097 |
119.918 |
156.435 |
|
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 |
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] |
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 |
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Deferred payment liabilities |
2.761 |
4.627 |
|
Deposits from directors |
37.820 |
32.415 |
|
Rupee term loans from others |
4.000 |
0.000 |
|
Total |
44.581 |
37.042 |
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10536586 |
18/11/2014 |
70,000,000.00 |
STATE BANK OF INDIA |
SHIVAJI UDYAMNAGAR BRANCH, Y P POWAR NAGAR, KOLHA |
C36947752 |
|
2 |
10536582 |
18/11/2014 |
100,000,000.00 |
STATE BANK OF INDIA |
SHIVAJI UDYAMNAGAR BRANCH, Y P POWAR NAGAR, KOLHA |
C36946929 |
|
3 |
10536701 |
18/11/2014 * |
13,600,000.00 |
STATE BANK OF INDIA |
SHIVAJI UDYAMNAGAR BRANCH, Y P POWAR NAGAR, KOLHA |
C37059029 |
|
4 |
10505612 |
05/06/2014 * |
36,000,000.00 |
STATE BANK OF INDIA |
UDYAMNAGAR BRANCH, KOLHAPUR, MAHARASHTRA - 416008, |
C36974954 |
|
5 |
10536709 |
05/06/2014 |
20,000,000.00 |
STATE BANK OF INDIA |
SHIVAJI UDYAMNAGAR BRANCH, Y P POWAR NAGAR, KOLHA |
C36999316 |
|
6 |
10418638 |
18/11/2014 * |
50,000,000.00 |
STATE BANK OF INDIA |
UDYAMNAGAR BRANCH, KOLHAPUR, MAHARASHTRA - 416008, |
C36948800 |
|
7 |
10297441 |
28/06/2011 |
360,000,000.00 |
STATE BANK OF INDIA |
SHIVAJI UDYAMNAGAR BRANCH, Y P POWAR NAGAR, KOLHA |
B16936031 |
|
8 |
10240794 |
31/03/2012 * |
108,000,000.00 |
STATE BANK OF INDIA |
UDYAMNAGAR BRANCH, Y P POWAR NAGAR, KOLHAPUR, MAH |
B36456465 |
|
9 |
10149123 |
04/03/2009 |
250,000,000.00 |
STATE BANK OF INDIA |
SHIVAJI UDYAMNAGAR BRANCH, Y P POWAR NAGAR, KOLHA |
A59229229 |
|
10 |
10109190 |
04/03/2009 * |
55,000,000.00 |
STATE BANK OF INDIA |
SHIVAJI UDYAMNAGAR BRANCH, Y P POWAR NAGAR, KOLHA |
A59229567 |
Note: * Date of charge modification
YEAR IN RETROSPECT:
The slow down impact also impacted the sale of passenger cars and utility vehicles.
FINANCE
During the period, company has fully availed corporate term loan of Rs.50.000 Million sanctioned in March 13. The company was also regular in repaying all the installments and interest on due dates.
State Bank of India has recently sanctioned us a foreign currency Buyers Credit of Rs. 36.000 Million for import of two HMC’s. The machines will be installed in July 2014.
The working capital position continued to be satisfactory throughout the year 2013-14.
AWARDS
During the year, company has also received “Best Quality award” from TAFE and award for new item development from TMTL.
OUTLOOK FOR THE
CURRENT YEAR
They are pleased to inform the members that the company has bagged its first direct export order. This order is for export to US. The export sale is expected to start from Nov / Dec 2014.
During 2013-14, the company has developed several new items for existing and new customers. The benefit of this new items development will accrue during 2014-15.
In view of the above, the company has projected the sales turnover of Rs.2700.000 Million for 2014-15 an increase of 15% over 2013-14.
SUBSIDIARY COMPANY
Sound Die castings Private Limited is a wholly owned subsidiary of the company and as required by Section 212 of the Companies Act, 1956, the Audited statement of Accounts, the Reports of the Board of Directors and Auditors of the subsidiary company are annexed.
FIXED ASSETS
Tangible assets
- Land
- Buildings
- Factory
building
- Plant and
equipment
- Factory
equipment’s
- Furniture and
fixtures
- Vehicles
- Motor
vehicles
- Office
equipment
- Computer
equipment’s
Intangible assets
- Computer
software
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.62.59 |
|
|
1 |
Rs.92.46 |
|
Euro |
1 |
Rs.67.51 |
INFORMATION DETAILS
|
Information Gathered
by : |
PPT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
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 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
50 |
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.