MIRA INFORM REPORT
|
Report No. : |
318014 |
|
Report Date : |
21.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
TRANTER INDIA PRIVATE LIMITED (w.e.f. 2009) |
|
|
|
|
Formerly Known
As : |
ALTRA INDUSTRIAL PRODUCTS PRIVATE LIMITED |
|
|
|
|
Registered Office
: |
Gat No. 127 and 128, Dingrajwadi, Taluka Shirur, Pune-412208, |
|
Tel. No. : |
91-2137-392300 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.12.2013 |
|
|
|
|
Date of
Incorporation : |
09.11.2005 |
|
|
|
|
Com. Reg. No.: |
09.11.2005 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.30.100
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29299PN2005PTC021523 |
|
|
|
|
IEC No.: |
3105022317 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
PNEA07579F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAFCA4598P |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Gasketed Plate Heat Exchanger Parts, Immersion Heat Exchange |
|
|
|
|
No. of Employees
: |
200 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (57) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is a step down subsidiary of Alfa Lava, Sweden It is an established company having good track record. Sales turnover of the company has declined which has resulted dip in
the profitability of the company during December 2013. However, company receives financial and managerial support from its
parent company backed by resourceful and experienced promoter’s and sound
financial risk profile. Trade relations are reported as fair. Payment terms are reported to be
regular and as per commitments. In view of strong parent company support, the company can be
considered normal 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating = “AA(SO)” |
|
Rating Explanation |
High degree of safety and carry very lowest credit risk. |
|
Date |
07.04.2015 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = “A1+(SO” |
|
Rating Explanation |
Very strong degree of safety and carry lowest credit risk. |
|
Date |
07.04.2015 |
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. Prakash Bamne |
|
Designation : |
Account Manager |
|
Contact No.: |
91-2137-392300 |
|
Date : |
18.04.2015 |
LOCATIONS
|
Registered Office / Factory : |
Gat No. 127 and 128, Dingrajwadi, Taluka Shirur, Pune-412208, |
|
Tel. No.: |
91-2137-292500 / 392300 / 392317 |
|
Mobile No : |
91-9373294572 (Mr. Prasanna) |
|
Fax No.: |
91-2137-392354 |
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E-Mail : |
|
|
Website : |
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|
Area : |
3.5 Acre |
|
Location : |
Owned |
|
|
|
|
Exclusive Services Centre For PHE: |
900/3/C, GIDC Estate, Makarpura, Vadodara-390010, |
|
Tel No.: |
91-265-3261191 / 2631191 |
|
Fax No.: |
91-265-2631191 |
|
Email: |
|
|
|
|
|
Sales and Marketing Office: |
Located At:
|
DIRECTORS
As on 27.06.2014
|
Name : |
Mr. Thuresson Thomas Thurebo |
|
Designation : |
Director |
|
Address : |
C/O Alfa |
|
Date of Birth/Age : |
06.12.1957 |
|
Date of Appointment : |
09.11.2005 |
|
DIN No.: |
01116071 |
|
|
|
|
Name : |
Mr. Olsson Dag Lennart |
|
Designation : |
Director |
|
Address : |
Ornahus Darrod, 1201 240 14, |
|
Date of Birth/Age : |
21.10.1961 |
|
Date of Appointment : |
24.04.2006 |
|
DIN No.: |
00867321 |
|
|
|
|
Name : |
Mr. Svensson Goran Claes |
|
Designation : |
Director |
|
Address : |
2444, New College, Lane Plano, |
|
Date of Birth/Age : |
29.01.1957 |
|
Date of Appointment : |
28.07.2006 |
|
DIN No.: |
00876740 |
|
|
|
|
Name : |
Mr. Satish Laxman Shewalkar |
|
Designation : |
Director |
|
Address : |
4, 1st Floor, Sarita Vaibhav, Sinhgad Road, Parvati,
Pune-411030, Maharashtra, India |
|
Date of Birth/Age : |
09.09.1957 |
|
Date of Appointment : |
12.12.2006 |
|
DIN No.: |
01159043 |
|
|
|
|
Name : |
Mr. Ganesh Gopal |
|
Designation : |
Director |
|
Address : |
Flat No. 602, S No. 1817+8A/1, Salunkhe Vihar, Rose Parade,
Pune-411048, Maharashtra, India |
|
Date of Birth/Age : |
01.02.1973 |
|
Date of Appointment : |
01.01.2010 |
|
DIN No.: |
02910619 |
|
|
|
|
Name : |
Mr. Prasanna Arvind Gote |
|
Designation : |
Director |
|
Address : |
G-102, Kanchanganga, Shivanand Gardens, Kothrud, Pune-411038,
Maharashtra, India |
|
Date of Birth/Age : |
03.12.1963 |
|
Date of Appointment : |
29.06.2012 |
|
DIN No.: |
05228742 |
|
|
|
|
Name : |
Mr. Robert Blake Snider |
|
Designation : |
Director appointed in casual vacancy |
|
Address : |
1863 Sunset CT Allen Texas 75013 |
|
Date of Birth/Age : |
28.11.1969 |
|
Date of Appointment : |
24.12.2012 |
|
DIN No.: |
06499657 |
KEY EXECUTIVES
|
Name : |
Shweta Rohit Tridevi |
|
Designation : |
Secretary |
|
Address : |
Row House No. 1,Gat No. 1420, Chrrysalis HSL Lohegaon Road, Wagholi,
Pune – 412207, West Bengal,India |
|
Date of Birth/Age : |
21.10.1982 |
|
Date of Appointment : |
10.02.2014 |
|
PAN No. : |
AEWPN1483L |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 27.06.2014
|
Names of Shareholders |
|
No. of Shares |
|
Alfa Laval Corporation AB, |
|
1 |
|
PHE Holding AB, Sweden |
|
3009999 |
|
Total |
|
3010000 |
As on 27.06.2014
Equity Share Break up (Percentage of Total Equity)
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Gasketed Plate Heat Exchanger Parts, Immersion Heat
Exchange |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
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Products : |
Finished goods |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
Cash, Advance Payment, Credit (30/60/90 Days) |
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Purchasing : |
Cash, Advance Payment, Credit (30/60/90 Days) |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
200 (Approximately) |
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Bankers : |
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Facilities : |
(Rs.
In Million)
|
|
Auditors : |
|
|
Name : |
S. R. Batliboi and Associates Chartered Accountants |
|
Address : |
A-14, Nanddham Building, 4th Floor, Brijdham Nanddham Co-Operative Housing Society, Bangur Nagar, Goregaon (West), Mumbai, Maharashtra, India |
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PAN No: |
AABFS3421N |
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Memberships : |
Not available |
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Collaborators : |
Not Available |
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Fellow Subsidiaries : |
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CAPITAL STRUCTURE
As on 27.06.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3010000 |
Equity Shares |
Rs.10/- each
|
Rs.30.100
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
30.100 |
30.100 |
30.100 |
|
(b) Reserves & Surplus |
139.629 |
122.234 |
89.289 |
|
(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) |
169.729 |
152.334 |
119.389 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
13.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
7.912 |
|
(d) long-term
provisions |
8.177 |
11.423 |
0.000 |
|
Total Non-current
Liabilities (3) |
8.177 |
11.423 |
20.912 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
412.200 |
551.596 |
493.684 |
|
(b) Trade
payables |
130.513 |
133.815 |
211.354 |
|
(c) Other
current liabilities |
39.746 |
78.346 |
216.488 |
|
(d) Short-term
provisions |
20.831 |
16.758 |
10.413 |
|
Total Current
Liabilities (4) |
603.290 |
780.515 |
931.939 |
|
|
|
|
|
|
TOTAL |
781.196 |
944.272 |
1072.240 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
298.340 |
318.634 |
255.412 |
|
(ii)
Intangible Assets |
18.085 |
23.491 |
28.170 |
|
(iii)
Capital work-in-progress |
0.000 |
7.830 |
0.486 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
34.631 |
31.581 |
24.224 |
|
(d) Long-term Loan and Advances |
39.026 |
19.929 |
81.682 |
|
(e) Other
Non-current assets |
4.868 |
3.794 |
18.419 |
|
Total Non-Current
Assets |
394.950 |
405.259 |
408.393 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current
investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
146.020 |
207.561 |
301.294 |
|
(c) Trade
receivables |
168.789 |
248.360 |
252.664 |
|
(d) Cash
and cash equivalents |
2.690 |
7.791 |
1.195 |
|
(e)
Short-term loans and advances |
56.400 |
63.856 |
96.931 |
|
(f) Other
current assets |
12.347 |
11.445 |
11.763 |
|
Total
Current Assets |
386.246 |
539.013 |
663.847 |
|
|
|
|
|
|
TOTAL |
781.196 |
944.272 |
1072.240 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
760.030 |
1034.790 |
911.770 |
|
|
|
Other Income |
NA |
0.090 |
0.950 |
|
|
|
TOTAL |
NA |
1034.880 |
912.720 |
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
||
|
|
|
TOTAL |
NA |
979.520 |
908.360 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
10.960 |
55.360 |
4.360 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
9.700 |
22.420 |
3.430 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
17.390 |
32.940 |
0.930 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
5.78 |
10.94 |
0.31 |
|
|
Particulars |
|
|
31.12.2014 |
|
Sales Turnover (Approximately) |
|
|
1000.000 Million |
|
|
|
|
|
The above information has been parted by Mr. Prakash Bamne
KEY RATIOS
|
PARTICULARS |
|
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
Net Profit Margin (PAT/Sales) |
(%) |
2.29 |
3.18 |
0.10 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.47 |
6.12 |
0.42 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06 |
0.36 |
0.04 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.43 |
3.62 |
4.24 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.64 |
0.69 |
0.71 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.12.2011 |
31.12.2012 |
31.12.2013 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
30.100 |
30.100 |
30.100 |
|
Reserves & Surplus |
89.289 |
122.234 |
139.629 |
|
Net
worth |
119.389 |
152.334 |
169.729 |
|
|
|
|
|
|
long-term borrowings |
13.000 |
0.000 |
0.000 |
|
Short term borrowings |
493.684 |
551.596 |
412.200 |
|
Total
borrowings |
506.684 |
551.596 |
412.200 |
|
Debt/Equity
ratio |
4.244 |
3.621 |
2.429 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.12.2011 |
31.12.2012 |
31.12.2013 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
911.770 |
1034.790 |
760.030 |
|
|
|
13.492 |
(26.552) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.12.2011 |
31.12.2012 |
31.12.2013 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
911.770 |
1034.790 |
760.030 |
|
Profit |
0.930 |
32.940 |
17.390 |
|
|
0.10% |
3.18% |
2.29% |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF CURRENT MATURITIES OF LONG TERM
DEBT:
|
Particulars |
31.12.2013 [Rs. in millions] |
31.12.2012 [Rs. in millions] |
31.12.2011 [Rs. in millions] |
|
|
|
|
|
|
Current
Maturities of Long Term Debt |
0.000 |
13.000 |
94.332 |
|
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 |
Yes |
|
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 |
No |
|
18] |
Major customers |
No |
|
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 |
No |
|
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 |
CORPORATE INFORMATION
The company is domiciled in India and incorporated under die provisions of the Companies Act, 1956. The Company is engaged in the manufacture of Gasketed and Welded Plate Heat Exchangers (PHEs) for a wide range of applications in a variety of industries which includes Power, Pharma and Chemicals. The Company is also engaged in undertaking contract for setting up turnkey projects for thermal heat systems. The Company is also engaged in rendering repair and maintenance services.
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.12.2013 |
As
on 31.12.2012 |
|
SHORT TERM
BORROWING |
|
|
|
Other loans and advances |
402.270 |
541.189 |
|
|
|
|
|
Total |
402.270 |
541.189 |
INDEX OF CHARGES: NO
CHARGES EXIST FOR THE COMPANY
FIXED ASSETS
- Land
- Factory Building
- Plant and Machinery
- Office Equipments
- Computer Equipments
- Furniture and Fixtures
- Vehicles
- Goodwill
- 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 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.62.35 |
|
|
1 |
Rs.93.09 |
|
Euro |
1 |
Rs.67.13 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRP |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ART |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
57 |
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.