MIRA INFORM REPORT
|
Report No. : |
317413 |
|
Report Date : |
17.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
APPLE SPONGE AND POWER
LIMITED (w.e.f. 21.07.2008) |
|
|
|
|
Formerly Known
As : |
APPLE SPONGE IRON LIMITED
(w.e.f. 01.07.2008) APPLE SPONGE IRON PRIVATE
LIMITED |
|
|
|
|
Registered
Office : |
T-1, III Floor, Anupam
Plaza, IIT Crossing, Hauz Khas, Delhi – 110 016 |
|
Tel. No.: |
91-120-4204461/ 62 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
28.10.2004 |
|
|
|
|
Com. Reg. No.: |
55-130241 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.104.803
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27101DL2004PLC130241 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAFCA1965L |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer
and supplier of Sponge Iron, M.S. Billets and TMT Bar. |
|
|
|
|
No. of Employees
: |
175 (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 |
|
Maximum Credit Limit : |
USD 2600000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an
established company having moderate track record. Management of the
company has failed to file its latest financial for the year 2014 with the
Government Department. As per available
financial of 2013, the company has incurred a loss from operations. However, trade
relations are reported as fair. Business is active. Payment terms are
reported to be 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.
ECGC Country Risk Classification List – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
Not Available
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 (GENERAL DETAILS)
|
Name : |
Mr. Ravinder Kumar Gupta |
|
Designation : |
Director |
|
Contact No.: |
91-9225822000 |
|
Date : |
15.04.2015 |
LOCATIONS
|
Registered Office : |
T-1, III Floor, Anupam Plaza,
IIT Crossing, Hauz Khas, Delhi – 110 016, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9225822000 (Mr. Ravinder Kumar Gupta) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
|
|
|
Corporate Office : |
B-16, Sector-2, Noida – 201 301, Uttar Pradesh, India |
|
Tel. No.: |
91-120-4204461/ 62 |
|
Fax No.: |
91-120-4204463 |
|
|
|
|
Factory 1 : |
S-4, Anupam Plaza, IIT Crossing, Hauz Khas, New Delhi – 110 016, India
|
|
Tel. No.: |
91-11-41755370 |
|
Fax No.: |
91-11-41755373 |
|
|
|
|
Factory 2 : |
C-4, Five Star, MIDC Industrial Area, Kagal, Kolhapur – 416 216,
Maharashtra, India |
|
Tel. No.: |
91-231-6616880/ 6616884 |
|
Fax No.: |
91-231-6616888/ 6616879 |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Narendra Kumar Garg |
|
Designation : |
Whole-time Director |
|
Address : |
F-22, Model Town II, Delhi, India |
|
Date of Birth/Age : |
09.11.1953 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
20.05.2009 |
|
DIN No.: |
00013348 |
|
PAN No.: |
AEKPG6296A |
|
|
|
|
Name : |
Mr. Laxmikant Lath |
|
Designation : |
Director |
|
Address : |
27, Sun Beam, Peddar Road, Mumbai, Maharashtra, India |
|
Date of Birth/Age : |
05.11.1972 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
28.10.2004 |
|
DIN No.: |
00064715 |
|
|
|
|
Name : |
Mr. Ravinder Kumar Gupta |
|
Designation : |
Director |
|
Address : |
AG-31, Shalimar Bagh, Delhi, India |
|
Date of Birth/Age : |
05.06.1957 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
28.10.2004 |
|
DIN No.: |
00464098 |
KEY EXECUTIVES
|
Name : |
Mr. Ajay Jain |
|
Designation : |
Secretary |
|
Address : |
11, Binsar Apartment, Indrapuram,
Ghaziabad – 201 011, Uttar Pradesh, India |
|
Date of Appointment : |
01.07.2008 |
|
PAN No.: |
AFCPJ2951C |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
SHAREHOLDING DETAILS
FILE ATTACHED.
AS ON 30.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
84.00 |
|
Directors
or relatives of directors |
|
14.43 |
|
Other
top fifty shareholders |
|
1.57 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer
and supplier of Sponge Iron, M.S. Billets and TMT Bar. |
|
|
|
|
Brand Names : |
“APPLE GOLD” |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Available |
|
|
|
|
Imports : |
Not Available |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
|||||||||||||||||||||
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|
|
|||||||||||||||||||||
|
Customers : |
Wholesalers and retailers
|
|||||||||||||||||||||
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|
|||||||||||||||||||||
|
No. of Employees : |
175 (Approximately) |
|||||||||||||||||||||
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|
|||||||||||||||||||||
|
Bankers : |
|
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
Dinesh
S. Agarwal and Associates Chartered
Accountants |
|
Address : |
609/B, Mangalarambhkore,
Kendra Road, Borivali (West), Mumbai, Maharashtra, India |
|
PAN No.: |
AACFD8338A |
|
|
|
|
Associates : |
·
Apple Industries Limited, India (CIN
No.: U74120DL2008PLC175180) ·
Sanidhya Steels Private Limited, India (CIN
No.: U27100DL2010PTC198346) ·
Apple Commodities Limited, India (CIN
No.: U51109DL2000PLC103297) ·
Apple Alloys Private Limited, India (CIN
No.: U27106DL2004PTC127964) ·
Manan Power Private Limited, India (CIN
No.: U40101DL2010PTC198336) ·
Madan Gopal Alloys Private Limited, India (CIN
No.: U27100DL2010PTC198330) ·
Apple Natural Resources Private Limited, India (CIN No.: U10100DL2010PTC204240) ·
Nirman Stelco Private Limited, India (CIN No.: U27310DL2006PTC153902) |
|
|
|
|
Companies/ firms controlled by director/
relatives : |
Sanidhya Steels Limited |
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
25000000 |
Equity Shares |
Rs.10/- each |
Rs.250.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10990260 |
Equity Shares |
Rs.10/- each
|
Rs.109.902
Million |
|
|
|
|
|
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
25000000 |
Equity Shares |
Rs.10/- each |
Rs.250.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10480260 |
Equity Shares |
Rs.10/- each
|
Rs.104.803
Million |
|
|
Forfeited Shares |
|
Rs.12.500
million |
|
|
Total |
|
Rs.117.303 million |
FINANCIAL DATA
[all figures are
in Rupees Million]
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 |
117.303 |
92.071 |
92.071 |
|
(b) Reserves & Surplus |
694.228 |
621.954 |
610.386 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
108.560 |
144.978 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
920.091 |
859.003 |
702.457 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
802.332 |
947.592 |
751.565 |
|
(b) Deferred tax liabilities (Net) |
89.657 |
43.321 |
31.399 |
|
(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) |
891.989 |
990.913 |
782.964 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
488.804 |
227.387 |
229.154 |
|
(b)
Trade payables |
446.635 |
121.795 |
46.707 |
|
(c)
Other current liabilities |
159.922 |
120.438 |
53.032 |
|
(d)
Short-term provisions |
0.000 |
3.936 |
4.731 |
|
Total
Current Liabilities (4) |
1095.361 |
473.556 |
333.624 |
|
|
|
|
|
|
TOTAL |
2907.441 |
2323.472 |
1819.045 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
1638.543 |
828.880 |
494.419 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
44.357 |
781.275 |
446.240 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.948 |
0.948 |
0.948 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
31.754 |
49.648 |
371.792 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
1715.602 |
1660.751 |
1313.399 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
736.320 |
314.423 |
142.346 |
|
(c)
Trade receivables |
121.242 |
85.526 |
84.989 |
|
(d)
Cash and cash equivalents |
97.471 |
65.923 |
90.477 |
|
(e)
Short-term loans and advances |
236.806 |
196.849 |
187.713 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.121 |
|
Total
Current Assets |
1191.839 |
662.721 |
505.646 |
|
|
|
|
|
|
TOTAL |
2907.441 |
2323.472 |
1819.045 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue
from operations |
2483.718 |
1443.840 |
1064.376 |
|
|
|
Other Income |
8.530 |
5.374 |
2.646 |
|
|
|
TOTAL (A) |
2492.248 |
1449.214 |
1067.022 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost
of materials consumed |
2131.850 |
1212.156 |
863.420 |
|
|
|
Changes in inventories of
finished goods, work-in-progress and stock-in-trade |
(64.276) |
(14.500) |
6.996 |
|
|
|
Employee
benefit expense |
8.577 |
12.786 |
7.482 |
|
|
|
Other
expenses |
280.014 |
62.408 |
64.858 |
|
|
|
TOTAL (B) |
2356.165 |
1272.850 |
942.756 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
136.083 |
176.364 |
124.266 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
135.870 |
88.198 |
49.093 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
0.213 |
88.166 |
75.173 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
96.389 |
57.132 |
43.392 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(96.176) |
31.034 |
31.781 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
46.019 |
19.466 |
18.744 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(142.195) |
11.568 |
13.037 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(17.85) |
1.45 |
1.74 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PAT/Sales) |
(%) |
(5.73) |
0.80 |
1.22 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
5.48 |
12.21 |
11.68 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(3.36) |
2.01 |
2.32 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.10) |
0.04 |
0.05 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.40 |
1.37 |
1.40 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.09 |
1.40 |
1.52 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
92.071 |
92.071 |
117.303 |
|
Reserves & Surplus |
610.386 |
621.954 |
694.228 |
|
Share Application money
pending allotment |
0.000 |
144.978 |
108.560 |
|
Net
worth |
702.457 |
859.003 |
920.091 |
|
|
|
|
|
|
long-term borrowings |
751.565 |
947.592 |
802.332 |
|
Short term borrowings |
229.154 |
227.387 |
488.804 |
|
Total
borrowings |
980.719 |
1174.979 |
1291.136 |
|
Debt/Equity
ratio |
1.396 |
1.368 |
1.403 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Revenue from operations |
1064.376 |
1443.840 |
2483.718 |
|
|
|
35.651 |
72.022 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Revenue from operations |
1064.376 |
1443.840 |
2483.718 |
|
Profit |
13.037 |
11.568 |
(142.195) |
|
|
1.22% |
0.80% |
(5.73%) |
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 |
No |
|
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 |
No |
|
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 |
No |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
INDEX OF CHARGES:
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10539277 |
12/11/2014 |
850,000,000.00 |
SINCERELY FINANCE & INVESTMENT PRIVATE LIMITED |
9-H, 9TH FLOOR, 15, HANSALAYA BUILDING, BARAKHAMBA ROAD, NEW DELHI,
Delhi - 110001, INDIA |
C38433413 |
|
2 |
10474442 |
30/12/2013 |
1,176,400,000.00 |
PUNJAB NATIONAL BANK |
ECE HOUSE, CONNAUGHT PALCE, DELHI, Delhi - 110001 |
B95027843 |
|
3 |
10417937 |
26/03/2013 |
50,000,000.00 |
PUNJAB NATIONAL BANK |
ECE HOUSE,, K.G. MARG, NEW DELHI, Delhi - 110001, |
B72650708 |
|
4 |
10209664 |
03/03/2010 |
950,000,000.00 |
PNB CONSORTIUM COMPRISING OF PUNJAB NATIONAL BANK |
ECE HOUSE, K.G. MARG, NEW DELHI, Delhi - 110001, |
A81890121 |
|
5 |
10182468 |
16/10/2009 |
650,000.00 |
PUNJAB NATIONAL BANK |
ECE HOUSE, NEW DELHI, Delhi - 110001, INDIA |
A72196447 |
|
6 |
10163740 |
06/08/2012 * |
842,400,000.00 |
Punjab National Bank |
ECE House,, K.G. Marg,, New DElhi, Delhi - 110001 , INDIA |
B56123847 |
* Date of charge modification
|
Unsecured Loans |
31.03.2013 (Rs.
in Million) |
31.03.2012 (Rs.
in Million) |
|
SHORT-TERM
BORROWINGS |
|
|
|
Loans and advances from others |
71.273 |
0.000 |
|
Other loans and advances |
68.286 |
3.237 |
|
Total
|
139.559 |
3.237 |
CONTINGENT LIABILITIES IN RESPECT OF (AS ON 31.03.2013):
Bank guarantee of Rs.20.683
Million given to Maharashtra State Electricity Distribution Company Limited
(MSDEDCL) and Maharashtra Pollution Control Board (MPCB) of Rs.0.800 million
against fixed deposit of Rs.21.483 Million in Punjab National bank.
FIXED ASSETS:
·
Land
·
Buildings
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
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.62.37 |
|
|
1 |
Rs.92.44 |
|
Euro |
1 |
Rs.66.56 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
RSM |
|
|
|
|
Report Prepared
by : |
JYTK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--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.