MIRA INFORM REPORT
|
Report No. : |
318774 |
|
Report Date : |
24.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
VERZONE PTE. LTD. |
|
|
|
|
Formerly Known As : |
VERIZON GLOBAL PTE. LTD. |
|
|
|
|
Registered Office : |
16, Raffles Quay, 27- 01b, Hong Leong Building, 048581 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation : |
21.10.2011 |
|
|
|
|
Com. Reg. No.: |
201131455-N |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Wholesale of chemicals. |
|
|
|
|
No. of Employee : |
7 [2015] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
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) |
|
Singapore |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
SINGAPORE ECONOMIC OVERVIEW
Singapore has a highly developed and successful free-market
economy. It enjoys a remarkably open and corruption-free environment, stable
prices, and a per capita GDP higher than that of most developed countries.
Unemployment is very low. The economy depends heavily on exports, particularly
in consumer electronics, information technology products, pharmaceuticals, and
on a growing financial services sector. The economy contracted 0.6% in 2009 as
a result of the global financial crisis, but rebounded 15.1% in 2010, on the
strength of renewed exports. Growth in 2014 was slower at 13.9%, largely a
result of soft demand for exports during the second European recession. Over
the longer term, the government hopes to establish a new growth path that
focuses on raising productivity. Singapore has attracted major investments in
pharmaceuticals and medical technology production and will continue efforts to
establish Singapore as Southeast Asia's financial and high-tech hub. Singapore
is a member of the 12-nation Trans-Pacific Partnership free TRADE
agreement
negotiations and, with the nine other ASEAN members, will form the ASEAN
Economic Community in 2015.
|
Source
: CIA |
EXECUTIVE SUMMARY
HISTORY
/ BACKGROUND
The Subject is a
private limited company and is allowed to have a minimum of one and a maximum
of forty-nine shareholders. As a private limited company, the Subject must
have at least two directors. A private limited company is a separate legal
entity from its shareholders. As a separate legal entity, the Subject is
capable of owning assets, entering into contracts, sue or be sued by other
companies. The liabilities of the shareholders are to the extent of the
equity they have taken up and the creditors cannot claim on shareholders'
personal assets even if the Subject is insolvent. The Subject is governed by
the Companies Act and the company must file its annual returns, together with
its financial statements with the Registrar of Companies. The Subject is
principally engaged in the (as a / as an) wholesale of chemicals. Share Capital
History
The major
shareholder(s) of the Subject are shown as follows :
+ Also Director DIRECTORS
DIRECTOR 1
DIRECTOR 2
DIRECTOR 3
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
1) |
Name of
Subject |
: |
MANISH AGARWAL |
|
Position |
: |
DIRECTOR |
|
AUDITOR
|
Auditor |
: |
BUSINESS ASSURANCE |
|
Auditor'
Address |
: |
N/A |
COMPANY
SECRETARIES
|
1) |
Company
Secretary |
: |
EDMUND TANG
KOON KAY |
|
IC / PP No |
: |
S2667761J |
|
|
Address |
: |
125, ARTHUR
ROAD, 10-02, 439829, SINGAPORE. |
|
BANKING
Banking relations are maintained principally with :
|
1) |
Name |
: |
BNP PARIBAS |
|
2) |
Name |
: |
DBS BANK LTD |
|
3) |
Name |
: |
SOCIETE
GENERALE |
|
4) |
Name |
: |
STANDARD
CHARTERED BANK |
ENCUMBRANCE
(S)
|
Charge No |
Creation Date |
Charge
Description |
Chargee Name |
Total Charge |
Status |
|
C201201360 |
06/02/2012 |
N/A |
BNP PARIBAS |
- |
Unsatisfied |
|
C201204672 |
27/04/2012 |
N/A |
SOCIETE
GENERALE |
- |
Unsatisfied |
|
C201204849 |
03/05/2012 |
N/A |
SOCIETE
GENERALE |
- |
Unsatisfied |
|
C201206644 |
19/06/2012 |
N/A |
DBS BANK LTD |
- |
Unsatisfied |
|
C201305188 |
16/04/2013 |
N/A |
STANDARD
CHARTERED BANK |
- |
Unsatisfied |
LITIGATION
CHECK AGAINST SUBJECT
* A check has been conducted in our databank againt the Subject whether the
subject has been involved in any litigation.
No legal action was found in our databank.
No winding up petition was found in our databank.
PAYMENT
RECORD
|
SOURCES OF RAW
MATERIALS: |
||
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
The Subject refused to disclose its suppliers.
The Subject refused to provide any name of trade/service supplier and we are unable
to conduct any trade enquiry. However, from financial historical data we
conclude that :
|
OVERALL
PAYMENT HABIT |
||||||||||||||
|
Prompt 0-30
Days |
[ |
X |
] |
Good 31-60
Days |
[ |
] |
Average 61-90
Days |
[ |
] |
|||||
|
Fair 91-120
Days |
[ |
] |
Poor >120
Days |
[ |
] |
|||||||||
CLIENTELE
|
Local |
: |
YES |
|||
|
Domestic
Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|||
|
Export Market |
: |
WORLDWIDE |
|||
|
Credit Term |
: |
N/A |
|||
|
Payment Mode |
: |
CHEQUES |
|||
OPERATIONS
|
Goods Traded |
: |
|
|
|
Total Number
of Employees: |
|||||||||
|
YEAR |
2015 |
2014 |
|||||||
|
GROUP |
N/A |
N/A |
|||||||
|
COMPANY |
7 |
7 |
|||||||
|
Branch |
: |
|
Other Information:
The Subject is principally engaged in the (as a / as an) wholesale of
chemicals.
The Subject sells chemicals.
The Subject sells the chemicals according to its customers' requirements.
CURRENT
INVESTIGATION
Latest fresh
investigations carried out on the Subject indicated that :
|
Telephone
Number Provided By Client |
: |
6565570030 |
|
Current
Telephone Number |
: |
65-65570030 |
|
Match |
: |
YES |
|
Address
Provided by Client |
: |
16 RAFFLES
QUAY NO 27- 01B HONG LEONG BUILDING, SINGAPORE - 048581 |
|
Current
Address |
: |
16, RAFFLES
QUAY, 27- 01B, HONG LEONG BUILDING, 048581, SINGAPORE. |
|
Match |
: |
YES |
Other
Investigations
On 22nd April 2015 we contacted one of the staff from the Subject and she
provided some information.
FINANCIAL
ANALYSIS
|
Profitability |
||||||
|
Return on
Shareholder Funds |
: |
Acceptable |
[ |
28.95% |
] |
|
|
Return on Net
Assets |
: |
Acceptable |
[ |
13.79% |
] |
|
|
The Subject's
management had generated acceptable return for its shareholders using its
assets. |
||||||
|
Working
Capital Control |
||||||
|
Stock Ratio |
: |
Nil |
[ |
0 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
23 Days |
] |
|
|
Creditors
Ratio |
: |
Favourable |
[ |
15 Days |
] |
|
|
As the Subject
is a service oriented company, the Subject does not need to keep stocks. The
favourable debtors' days could be due to the good credit control measures
implemented by the Subject. The Subject had a favourable creditors' ratio
where the Subject could be taking advantage of the cash discounts and also
wanting to maintain goodwill with its creditors. |
||||||
|
Liquidity |
||||||
|
Liquid Ratio |
: |
Favourable |
[ |
2.70 Times |
] |
|
|
Current Ratio |
: |
Favourable |
[ |
2.70 Times |
] |
|
|
A minimum liquid
ratio of 1 should be maintained by the Subject in order to assure its
creditors of its ability to meet short term obligations and the Subject was
in a good liquidity position. Thus, we believe the Subject is able to meet
all its short term obligations as and when they fall due. |
||||||
|
Solvency |
||||||
|
Interest Cover |
: |
Unfavourable |
[ |
2.37 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.00 Times |
] |
|
|
The Subject's interest
cover was low. If its profits fall or when interest rate rises, it
may not be able to meet all its interest payment. The Subject had no
gearing and hence it had virtually no financial risk. The Subject was
financed by its shareholders' funds and internally generated fund. During
the economic downturn, the Subject, having a zero gearing, will be able to
compete better than those which are highly geared in the same industry. |
||||||
|
Overall
Assessment : |
||||||
|
The Subject
was in good liquidity position with its total current liabilities well
covered by its total current assets. With its current net assets, the
Subject should be able to repay its short term obligations. If there is a
fall in the Subject's profit or any increase in interest rate, the Subject
may not be able to generate sufficient cash-flow to service its interest.
The Subject was a zero gearing company, it was solely dependant on its
shareholders to provide funds to finance its business. The Subject has good
chance of getting loans, if the needs arises. |
||||||
|
Overall
financial condition of the Subject : STABLE |
||||||
SINGAPORE
ECONOMIC / INDUSTRY OUTLOOK
|
Major Economic
Indicators : |
2009 |
2010 |
2011 |
2012 |
2013 |
|
|
|||||
|
Population
(Million) |
4.98 |
5.08 |
5.18 |
5.31 |
5.40 |
|
Gross Domestic
Products ( % ) |
(0.8) |
14.5 |
4.9 |
1.3 |
3.7 |
|
Consumer Price
Index |
0.6 |
2.8 |
5.2 |
4.6 |
2.4 |
|
Total Imports
(Million) |
356,299.3 |
423,221.8 |
459,655.1 |
474,554.0 |
466,762.0 |
|
Total Exports
(Million) |
391,118.1 |
478,840.7 |
514,741.2 |
510,329.0 |
513,391.0 |
|
|
|||||
|
Unemployment
Rate (%) |
3.2 |
2.2 |
2.1 |
2.0 |
1.9 |
|
Tourist
Arrival (Million) |
9.68 |
11.64 |
13.17 |
14.49 |
15.46 |
|
Hotel
Occupancy Rate (%) |
75.8 |
85.6 |
86.5 |
86.4 |
86.3 |
|
Cellular Phone
Subscriber (Million) |
1.37 |
1.43 |
1.50 |
1.52 |
1.97 |
|
|
|||||
|
Registration
of New Companies (No.) |
26,414 |
29,798 |
32,317 |
31,892 |
37,288 |
|
Registration of
New Companies (%) |
4.3 |
12.8 |
8.5 |
(1.3) |
9.8 |
|
Liquidation of
Companies (No.) |
22,393 |
15,126 |
19,005 |
17,218 |
17,369 |
|
Liquidation of
Companies (%) |
113.4 |
(32.5) |
25.6 |
9.4 |
(5.3) |
|
|
|||||
|
Registration of
New Businesses (No.) |
26,876 |
23,978 |
23,494 |
24,788 |
22,893 |
|
Registration
of New Businesses (%) |
8.15 |
(10.78) |
2.02 |
5.51 |
1.70 |
|
Liquidation of
Businesses (No.) |
23,552 |
24,211 |
23,005 |
22,489 |
22,598 |
|
Liquidation of
Businesses (%) |
11.4 |
2.8 |
(5) |
(2.2) |
0.5 |
|
|
|||||
|
Bankruptcy
Orders (No.) |
2,058 |
1,537 |
1,527 |
1,748 |
1,992 |
|
Bankruptcy
Orders (%) |
(11.5) |
(25.3) |
(0.7) |
14.5 |
14.0 |
|
Bankruptcy
Discharges (No.) |
3,056 |
2,252 |
1,391 |
1,881 |
2,584 |
|
Bankruptcy
Discharges (%) |
103.7 |
(26.3) |
(38.2) |
35.2 |
37.4 |
|
|
|||||
|
INDUSTRIES ( %
of Growth ) : |
|||||
|
Agriculture |
|||||
|
Production of
Principal Crops |
3.25 |
(0.48) |
4.25 |
3.64 |
- |
|
Fish Supply
& Wholesale |
(1.93) |
(10.5) |
12.10 |
(0.5) |
- |
|
|
|||||
|
Manufacturing
* |
71.5 |
92.8 |
100.0 |
100.3 |
102.0 |
|
Food,
Beverages & Tobacco |
90.4 |
96.4 |
100.0 |
103.5 |
103.5 |
|
Textiles |
145.9 |
122.1 |
100.0 |
104.0 |
87.1 |
|
Wearing
Apparel |
211.0 |
123.3 |
100.0 |
92.1 |
77.8 |
|
Leather
Products & Footwear |
79.5 |
81.8 |
100.0 |
98.6 |
109.8 |
|
Wood &
Wood Products |
101.4 |
104.0 |
100.0 |
95.5 |
107.4 |
|
Paper &
Paper Products |
95.4 |
106.1 |
100.0 |
97.4 |
103.2 |
|
Printing &
Media |
100.9 |
103.5 |
100.0 |
93.0 |
86.1 |
|
Crude Oil
Refineries |
96.4 |
95.6 |
100.0 |
99.4 |
93.5 |
|
Chemical &
Chemical Products |
80.3 |
97.6 |
100.0 |
100.5 |
104.1 |
|
Pharmaceutical
Products |
49.1 |
75.3 |
100.0 |
109.7 |
107.2 |
|
Rubber &
Plastic Products |
101.2 |
112.3 |
100.0 |
96.5 |
92.9 |
|
Non-metallic
Mineral |
91.9 |
92.5 |
100.0 |
98.2 |
97.6 |
|
Basic Metals |
92.6 |
102.2 |
100.0 |
90.6 |
76.5 |
|
Fabricated
Metal Products |
90.8 |
103.6 |
100.0 |
104.3 |
105.1 |
|
Machinery
& Equipment |
57.3 |
78.5 |
100.0 |
112.9 |
114.5 |
|
Electrical
Machinery |
86.8 |
124.1 |
100.0 |
99.3 |
108.5 |
|
Electronic
Components |
85.2 |
113.6 |
100.0 |
90.6 |
94.3 |
|
Transport
Equipment |
96.0 |
94.0 |
100.0 |
106.3 |
107.5 |
|
|
|||||
|
Construction |
(36.9) |
14.20 |
20.50 |
28.70 |
- |
|
Real Estate |
1.4 |
21.3 |
25.4 |
31.9 |
- |
|
|
|||||
|
Services |
|||||
|
Electricity,
Gas & Water |
1.70 |
4.00 |
7.00 |
6.30 |
- |
|
Transport,
Storage & Communication |
3.90 |
12.80 |
7.40 |
5.30 |
- |
|
Finance & Insurance |
(16.4) |
(0.4) |
8.90 |
0.50 |
- |
|
Government
Services |
4.50 |
9.70 |
6.90 |
6.00 |
- |
|
Education
Services |
0.10 |
(0.9) |
(1.4) |
0.30 |
- |
|
|
|||||
|
* Based on
Index of Industrial Production (2011 = 100) |
INDUSTRY
ANALYSIS
|
INDUSTRY : |
TRADING |
|
The wholesale
and retail trade sectors have expanded by 2.0% in the third quarter of
2014, extending the 1.8 per cent growth in the previous quarter. In 2013, the
wholesale and retail sector expanded by 5.0%, after declining by 1.4% the
year before. Growth of the sector was driven by the wholesale trade
segment. |
|
|
The domestic
wholesale trade index has increased by 3.2% in the fourth quarter of 2013,
moderating from the 6.6% growth in the previous quarter. The slower growth
was due to a decline in the sales of furniture and household equipment
(-12%) and petroleum and petroleum products (-0.6%). For the full year, the
domestic wholesale trade index grew by 5.2% reversing the 2.2% decline in
2012. On the other hand, the foreign wholesale trade index has increased by
a slower pace of 5.6% in the fourth quarter, compared to the 7.7% expansion
in the preceding quarter. The slowdown was due to a fall in the sales of
telecommunication equipment and computer (-3.8%) and petroleum and
petroleum products (-2.5%). For the full year, the growth of the foreign
wholesale trade index moderated slightly to 8.6% from 9.1% in the previous
year. |
|
|
In the fourth quarter
of 2013, retail sales volume fell by 6.2%, extending the 5.6% decline in
the previous quarter. Excluding motor vehicles, retail sales volume
increased by 0.4%, a slower pace of expansion as compared to the 1.6% gain
in the preceding quarter. The sales volume of motor vehicles fell by 33% in
the fourth quarter of 2013, extending the 32% decline in the previous
quarter. Meanwhile, the sales of several discretionary items also fell in
the fourth quarter of 2013. For instance, the sales of telecommunications
apparatus and computers fell by 12%, while the sales of furniture and
household equipment declined by 5.4%. |
|
|
For the full
year, retail sales volume contracted by 4.3%, a reversal from the 1.3%
expansion in 2012. Excluding motor vehicle sales, the retail sales volume
grew by 1.1% in 2013, slower than the 1.7% increase in 2012. Watches and
jewellery recorded the largest increase (11%) in sales in 2013, followed by
optical goods and book (3%) and medical goods and toiletries (3%). By
contrast, the sales of telecommunications apparatus and computer (-7.3%),
furniture and household equipment (-4.2%) and petrol service stations
(-1.4) declined in 2013. |
|
|
OVERALL
INDUSTRY OUTLOOK : AVERAGE GROWTH |
|
CREDIT
RISK EVALUATION & RECOMMENDATION
|
|
|
|
PROFIT
AND LOSS ACCOUNT
|
THE FINANCIAL
STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL REPORTING
STANDARDS. |
|
Financial Year
End |
2014-03-31 |
2012-12-31 |
|
Months |
15 |
14 |
|
Consolidated
Account |
Company |
Company |
|
Audited
Account |
YES |
YES |
|
Unqualified
Auditor's Report (Clean Opinion) |
YES |
YES |
|
Financial Type |
FULL |
FULL |
|
Currency |
USD |
USD |
|
TURNOVER |
180,880,028 |
71,433,130 |
|
Other Income |
45,872 |
67,718 |
|
---------------- |
---------------- |
|
|
Total Turnover |
180,925,900 |
71,500,848 |
|
Costs of Goods
Sold |
(177,491,360) |
(68,815,014) |
|
---------------- |
---------------- |
|
|
Gross Profit |
3,434,540 |
2,685,834 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
FROM OPERATIONS |
1,052,465 |
795,513 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
BEFORE TAXATION |
1,052,465 |
795,513 |
|
Taxation |
(127,191) |
(86,703) |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER
TAXATION |
925,274 |
708,810 |
|
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
||
|
As previously
reported |
708,810 |
- |
|
---------------- |
---------------- |
|
|
As restated |
708,810 |
- |
|
---------------- |
---------------- |
|
|
PROFIT
AVAILABLE FOR APPROPRIATIONS |
1,634,084 |
708,810 |
|
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) CARRIED FORWARD |
1,634,084 |
708,810 |
|
============= |
============= |
|
|
INTEREST EXPENSE
(as per notes to P&L) |
||
|
Others |
766,859 |
578,895 |
|
---------------- |
---------------- |
|
|
766,859 |
578,895 |
|
|
============= |
============= |
|
|
DEPRECIATION
(as per notes to P&L) |
32,308 |
25,873 |
|
---------------- |
---------------- |
|
|
32,308 |
25,873 |
|
|
============= |
============= |
BALANCE
SHEET
|
ASSETS
EMPLOYED: |
||
|
FIXED ASSETS |
42,430 |
85,171 |
|
---------------- |
---------------- |
|
|
TOTAL LONG
TERM ASSETS |
42,430 |
85,171 |
|
Trade debtors |
11,508,163 |
4,817,925 |
|
Other debtors,
deposits & prepayments |
5,423,904 |
5,039,775 |
|
Short term
deposits |
200,000 |
834,852 |
|
Cash &
bank balances |
3,764,231 |
5,340,085 |
|
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
20,896,298 |
16,032,637 |
|
---------------- |
---------------- |
|
|
TOTAL ASSET |
20,938,728 |
16,117,808 |
|
============= |
============= |
|
|
CURRENT
LIABILITIES |
||
|
Trade
creditors |
7,309,369 |
3,686,222 |
|
Other
creditors & accruals |
278,017 |
73,815 |
|
Provision for
taxation |
155,000 |
86,703 |
|
---------------- |
---------------- |
|
|
TOTAL CURRENT
LIABILITIES |
7,742,386 |
3,846,740 |
|
---------------- |
---------------- |
|
|
NET CURRENT
ASSETS/(LIABILITIES) |
13,153,912 |
12,185,897 |
|
---------------- |
---------------- |
|
|
TOTAL NET
ASSETS |
13,196,342 |
12,271,068 |
|
============= |
============= |
|
|
SHARE CAPITAL |
||
|
Ordinary share
capital |
1,562,258 |
1,562,258 |
|
---------------- |
---------------- |
|
|
TOTAL SHARE
CAPITAL |
1,562,258 |
1,562,258 |
|
Retained
profit/(loss) carried forward |
1,634,084 |
708,810 |
|
---------------- |
---------------- |
|
|
TOTAL RESERVES |
1,634,084 |
708,810 |
|
---------------- |
---------------- |
|
|
SHAREHOLDERS'
FUNDS/EQUITY |
3,196,342 |
2,271,068 |
|
Others |
10,000,000 |
10,000,000 |
|
---------------- |
---------------- |
|
|
TOTAL LONG
TERM LIABILITIES |
10,000,000 |
10,000,000 |
|
---------------- |
---------------- |
|
|
13,196,342 |
12,271,068 |
|
|
============= |
============= |
|
FINANCIAL
RATIO
|
TYPES OF FUNDS |
||
|
Cash |
3,964,231 |
6,174,937 |
|
Net Liquid
Funds |
3,964,231 |
6,174,937 |
|
Net Liquid
Assets |
13,153,912 |
12,185,897 |
|
Net Current Assets/(Liabilities) |
13,153,912 |
12,185,897 |
|
Net Tangible
Assets |
13,196,342 |
12,271,068 |
|
Net Monetary
Assets |
3,153,912 |
2,185,897 |
|
PROFIT &
LOSS ITEMS |
||
|
Earnings
Before Interest & Tax (EBIT) |
1,819,324 |
1,374,408 |
|
Earnings Before
Interest, Taxes, Depreciation And Amortization (EBITDA) |
1,851,632 |
1,400,281 |
|
BALANCE SHEET
ITEMS |
||
|
Total
Borrowings |
0 |
0 |
|
Total
Liabilities |
17,742,386 |
13,846,740 |
|
Total Assets |
20,938,728 |
16,117,808 |
|
Net Assets |
13,196,342 |
12,271,068 |
|
Net Assets
Backing |
3,196,342 |
2,271,068 |
|
Shareholders'
Funds |
3,196,342 |
2,271,068 |
|
Total Share
Capital |
1,562,258 |
1,562,258 |
|
Total Reserves |
1,634,084 |
708,810 |
|
LIQUIDITY
(Times) |
||
|
Cash Ratio |
0.51 |
1.61 |
|
Liquid Ratio |
2.70 |
4.17 |
|
Current Ratio |
2.70 |
4.17 |
|
WORKING
CAPITAL CONTROL (Days) |
||
|
Stock Ratio |
0 |
0 |
|
Debtors Ratio |
23 |
25 |
|
Creditors
Ratio |
15 |
20 |
|
SOLVENCY
RATIOS (Times) |
||
|
Gearing Ratio |
0.00 |
0.00 |
|
Liabilities Ratio |
5.55 |
6.10 |
|
Times Interest
Earned Ratio |
2.37 |
2.37 |
|
Assets Backing
Ratio |
8.45 |
7.85 |
|
PERFORMANCE
RATIO (%) |
||
|
Operating
Profit Margin |
0.58 |
1.11 |
|
Net Profit
Margin |
0.51 |
0.99 |
|
Return On Net
Assets |
13.79 |
11.20 |
|
Return On
Capital Employed |
13.79 |
11.20 |
|
Return On
Shareholders' Funds/Equity |
28.95 |
31.21 |
|
Dividend Pay
Out Ratio (Times) |
0.00 |
0.00 |
|
NOTES TO
ACCOUNTS |
||
|
Contingent
Liabilities |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.19 |
|
|
1 |
Rs.94.94 |
|
Euro |
1 |
Rs.67.66 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
ANK |
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 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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.