MIRA INFORM REPORT
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Report No. : |
335479 |
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Report Date : |
06.08.2015 |
IDENTIFICATION DETAILS
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Name : |
SUJANA METAL PRODUCTS LIMITED (w.e.f. 09.11.2001) |
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Formerly Known
As : |
SUJANA STEEL LIMITED (w.e.f. 20.04.1992) SUJANA
STEELS PRIVATE LIMITED (w.e.f. 30.03.1992) SUJANA
STEEL RE-ROLLING INDUSTRIES PRIVATE LIMITED |
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Registered
Office : |
8-2-248/1/7/41, Nagarjuna Hills, Panjagutta, |
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Tel. No.: |
91-40-23351882 |
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Country : |
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Financials (as
on) : |
31.03.2015 |
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Date of
Incorporation : |
02.05.1988 |
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Com. Reg. No.: |
36-008610 |
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Capital
Investment / Paid-up Capital : |
Rs.1156.591 Million |
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CIN No.: [Company Identification
No.] |
L28120TG1988PLC008610 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
HYDS00083G |
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PAN No.: [Permanent Account No.] |
AACCS8614H |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Subject is Primarily engaged in the Manufacturing and Trading of Steel
and Steel Products Business. |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
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MIRA’s Rating : |
Ca (16) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow and delayed |
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Litigation : |
Exist |
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Comments : |
Subject is a part of “Sujana group”. It is an established company
having moderate track. The company possesses a moderate operational performance and it has
incurred huge losses from its operational activities. The rating also take into consideration, the delays in debt servicing
on account of stretched liquidity of the company. Business is active. Payment terms are reported as slow and delayed. In view of aforesaid, the company can be considered for business
dealings on a safe and secured 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.
ECGC Country Risk Classification List – March 31, 2015
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
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Rating Agency Name |
CARE |
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Rating |
Long Term Bank Facilities: D |
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Rating Explanation |
Lowest credit quality and very low prospects
of recovery. |
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Date |
February 06, 2015 |
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Rating Agency Name |
CARE |
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Rating |
Short Term Bank Facilities: D |
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Rating Explanation |
Minimal degree of safety and very high
credit risk. |
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Date |
February 06, 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
31-03-2013.
INFORMATION DENIED
Management Non Co-operative (91-40-23351882)
LOCATIONS
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Registered / Corporate Office : |
8-2-248/1/7/41, Nagarjuna Hills, Panjagutta, Hyderabad – 500 082,
Telangana, India |
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Tel. No.: |
91-40-23351882/ 5/ 7/ 23351887 |
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Fax No.: |
91-40-2335 0766 / 23351882 / 23351887/ 23358499 |
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E-Mail : |
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Websites : |
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Works : |
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Hyderabad : |
(i) Survey No.296/7/9,
IDA Bollaram, Jinnaram Mandal, Medak District – 502 325, Telangana,
India (ii) Plot No. 4, Survey
No.296/7/7, 8 and 11, IDA Bollaram, Jinnaram Mandal, Medak District – 502
325, Telangana, India (iii) Survey No. 296/7/7,
296/7/8, 296/7/11, IDA Bollaram, Jinnaram Mandal, Medak District – 502 325, Telangana,
India (iv) Survey No. 296/7/7,
8 and 11, IDA Bollaram, Jinnaram Mandal, Medak District – 502 325, Telangana,
India (v) Survey No.196 and
197, Parigi Road, Elikatta Village, Shadnagar, Mahaboobnagar District, Telangana,
India (vi) Cut and Bend
Division: Survey No.204, 205 and 206 Elakatta Gram Panchayat, Farooq Nagar
Mandal, Mahaboob Nagar District – 509 216, , Telangana, India (vii) Trading Division:
Plot No.4, Survey No.296/7/7A, IDA Bollaram, Jinnaram Mandal, Medak District
– 502 325, , Telangana, India |
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Chennai
: |
(i) Survey No.204/8B,
Manjankaranai Village, Chennai, M.G.R. District – 620 502, Tamilnadu, India (ii) Plot No. B-20E, SIPCOT
Industrial Complex, Gummidi Pondi, Chennai, Tamilnadu, India |
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Visakhapatnam
: |
Sanivada
Village, Rajeevnagar, Visakhapatnam – 530 046, Andhra Pradesh, India |
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Secretarial
Department: |
Plot No.41, Nagarjuna Hills, Panjagutta, Hyderabad - 500082, India |
DIRECTORS
AS ON 31.03.2014
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Name : |
Mr. Y.S. Chowdary |
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Designation : |
Chairman |
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Address: |
Plot No.29, Sagar Co-Operative Housing Society, Banjara Hills, Hyderabad
– 500 033, Telangana, India |
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Date of Birth/ Age: |
02.06.1961 |
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Qualification : |
Master Degree in
Engineering with specialization in Machine Tools from P.S.G. College of
Technology, Coimbatore |
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Expertise in specific
functional area : |
He has distinguished
himself as a technocrat entrepreneur and had played a bigger role in
establishing the Sujana Group of companies. He has been a constant driving
force for fostering higher growth amongst all the group companies. Shri. Y.S.
Chowdary has in depth knowledge and a deep insight into the domestic and
global steel products industry. |
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Date of Appointment : |
13.02.1992 |
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Directorship in other
Indian Public Limited Companies as on 31.03.2013 : |
·
Sujana Towers Limited ·
Sujana Universal Industries Limited ·
Sujana Projects Limited ·
Sujana Holdings Limited ·
Sujana Energy Limited ·
Sujana Power (Gangikondan) Limited ·
Sujana Power (Tuticorin) Limited ·
Sujana Power (India) Limited |
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Name : |
Mr. R.K. Birla |
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Designation : |
Managing Director |
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Address: |
120, Gunrock Enclave, Secunderabad – 500 020, Telangana, India |
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Date of Birth/ Age: |
20.01.1952 |
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Qualification : |
Bachelor Degree Course in
arts and Master of Business Administration (MBA) from BITS Pilani |
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Experience : |
40 Years |
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Date of Appointment: |
05.05.1992 |
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Name : |
Mr. G. Srinivasa Raju |
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Designation : |
Director |
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Address: |
Flat No.405, White House, 8-2-6-74/2/2A, Road No.13, Banjara Hills, Hyderabad
– 500 033, Andhra Pradesh, India |
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Date of Birth/ Age: |
20.10.1963 |
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Date of Appointment: |
18.08.1999 |
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Name : |
Mr. S. Hanumantha Rao |
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Designation : |
Director |
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Address: |
8-3-720/85, Salivahana Nagar, Srinagar Colony, Hyderabad – 500 073,
Telangana, India |
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Date of Birth/ Age: |
18.07.1951 |
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Qualification : |
PHD M Science B Civil Engineering |
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Date of Appointment: |
19.07.1999 |
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Name : |
Mr. J. Ramakrishnan |
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Designation : |
Independent
and Non-Executive Director |
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Address: |
Jasmin Cottage, H No.8-2-6088 Road No.10, Banjara Hills, Hyderabad –
500 034, Telangana, India |
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Date of Birth/ age: |
20.08.1936 |
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Date of Appointment: |
24.07.1995 |
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Name : |
Dr. K. Srinivasa Rao |
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Designation : |
Independent
and Non-Executive Director |
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Address: |
17/1-38 8/47 (II), Srivakshmi Nagar Colony, Hyderabad – 500 659,
Telangana, India |
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Date of Birth/ Age : |
01.08.1934 |
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Qualification : |
Master of Arts
(Mathmatics) from Sri Venkateswara University |
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Expertise in specific
functional area : |
Started his career in
July, 1957 as a Probationary Officer in State Bank of India, he was the
Superintendent, Foreign Exchange Department, Bangalore Branch. He worked in
various capacities such as Accountant, Officer-in-charge, Branch Manager,
Deputy Chief Accountant, Chief Manager, General Manager, Finance Director
etc., of State Bank of India at various branches across India. |
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Date of Appointment : |
28.01.2000 |
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Directorship in other
Indian Public Limited Companies as on 31.03.2013 : |
Sujana Universal
Industries Limited |
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Name : |
Dr. V. Malakonda Reddy |
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Designation : |
Independent
and Non-Executive Director |
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Address: |
Plot No.268, 27, Minhvla Nagar, Banjara Hills, Hyderabad – 500 034,
Telangana, India |
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Date of Birth/ Age: |
23.08.1932 |
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Qualification : |
PHD M Science B Civil Engineering |
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Date of Appointment: |
05.05.1992 |
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Name : |
Mr. Ch. Srinivasu, , IDBI Nominee |
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Designation : |
Independent
and Non-Executive Director |
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Name : |
Mr. Vimlesh Kumar, PNB Nominee |
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Designation : |
Independent
and Non-Executive Director |
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Management
Committee : |
Mr. G.Srinivasa Raju Mr. R.K.Birla Mr. S.Hanumantha Rao |
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Audit
Committee : |
Dr. K.Srinivasa Rao Mr. S.Hanumantha Rao Dr.V.Malakonda Reddy |
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Share
Transfer Committee : |
Mr.
Y.S. Chowdary Mr.
G. Srinivasa Raju Mr.
R.K. Birla |
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Shareholders’
Grievances Committee : |
Mr.
S. Hanumantha Rao Mr.
Y.S. Chowdary Mr.
G. Srinivasa Raju |
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Remuneration
Committee : |
Dr.
K. Srinivasa Rao Mr.
J. Ramakrishnan Dr.
V. Malakonda Reddy |
KEY EXECUTIVES
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Name : |
Mr.
Shaik Ibraheem |
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Designation : |
Company Secretary |
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Name : |
Mr. Ch.
Narayana Rao |
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Designation : |
Vice President (Finance and Accounts) |
SHAREHOLDING PATTERN
AS ON 30.06.2015
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Category of
Shareholder |
No. of Shares |
Percentage
of Holding |
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(A) Shareholding of Promoter and Promoter Group |
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8300028 |
4.12 |
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62766585 |
31.16 |
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4278142 |
2.12 |
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4278135 |
2.12 |
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7 |
0.00 |
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75344755 |
37.40 |
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Total shareholding of Promoter and Promoter Group (A) |
75344755 |
37.40 |
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(B) Public Shareholding |
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16922436 |
8.40 |
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16922436 |
8.40 |
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17449325 |
8.66 |
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Individual shareholders holding nominal share capital up
to Rs. 0.100 million |
33728058 |
16.74 |
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Individual shareholders holding nominal share capital in
excess of Rs.0.100 million |
56594309 |
28.09 |
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1411998 |
0.70 |
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1230452 |
0.61 |
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181546 |
0.09 |
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109183690 |
54.20 |
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Total Public shareholding (B) |
126106126 |
62.60 |
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Total (A)+(B) |
201450881 |
100.00 |
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(C) Shares held by Custodians and against which Depository
Receipts have been issued |
0 |
0.00 |
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0 |
0.00 |
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0 |
0.00 |
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0 |
0.00 |
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Total (A)+(B)+(C) |
201450881 |
0.00 |
BUSINESS DETAILS
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Line of Business : |
Subject
is primarily engaged in the business of manufacturing and trading of Iron and
Steel products. |
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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 : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
v Andhra Bank v Bank of Baroda v Bank of India v IDBI Bank Limited v Indian Overseas Bank v Indian Bank v Karnataka Bank Limited |
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Facilities : |
NOTES: LONG TERM BORROWINGS Term loan from
banks viz. Punjab National Bank, Bank of India, Indian Overseas Bank, IDBI
Bank and Andhra Bank are secured by first charge on all the immovable and
movable fixed assets of the company both present and future and second charge
on the current assets of the company. Further these loans are secured by
personal guarantees and properties of certain directors. During the year the
company availed additional Term Loan taken from Andhra Bank Rs.27.100
Million, Bank of of India Rs.26.900 Million, IOB Rs.154.00 lakhs and PNB
Rs.406.00 lakhs carries an interest rate of 11 % p.a for upgradation of
technology at Shadnagar and Suryapet units. As per CDR Terms of
repayment are as follows:
i.
Loan taken from Andhra Bank, Rs. 50.91Crores, carries an interest rate
of 11 % p.a from 1st October, 2012 till 30th September,2014 and
there after 13% p.a and is repayable in 96 monthly installments commencing
from 1st October, 2014 ii.
Loan taken from Indian Overseas Bank, Rs.32.60Crores, carries an interest
rate of 11 % p.a from 1st October, 2012 till 30th September, 2014
and thereafter 13% p.a and is repayable in 96 monthly installments commencing
from 1st October, 2014. iii.
Loan taken from Bank Of India, Rs. 54.61Crores, carries an interest
rate of 11 % p.a from 1st October, 2012 till 30 th September, 2014 and there
after 13% p.a and is repayable in 96 monthly installments commencing from 1st
October, 2014. iv.
Loan taken from Punjab National Bank, Rs.90.86Crores, carries an
interest rate of 11 % p.a from 1st October, 2012 till 30th
September, 2014 and there after 13% p.a and is repayable in 96 monthly
installments commencing from 1st October, 2014.
v.
Loan taken from IDBI, Rs. 22.38Crores, carries an interest rate of 11
% p.a from 1st October, 2012 till 30th September, 2014 and
thereafter 13% p.a and is repayable in 96 monthly installments commencing
from 1st October, 2014. vi.
Term loan from financial institutions viz Stressed Assets
Stabilization Fund (SASF) secured by first charge on all the immovable and
movable fixed assets of the company and second charge on the current assets
of the company. As per SASF letter dated 15 March 2013, crystallizes the SASF
dues to Rs.660.000 Million and is to be paid in cash carrying ROI @ 9% p.a
payable over 9 1/2 years and balance Rs. 180.000 Million to be converted into
equity as per SEBI Guidelines. After giving effect to the CDR it was decided
that SASF dues as per June, 2008 package should be considered for
restructuring at par with other lenders including clearance of interest
overdue as on COD (October 1, 2012). As per Bank’s advice Interest and other
over dues of Rs182.000 Million as on COD, is to be cleared for restructuring
of dues at CDR. vii.
Overdue interest on Term Loans, SASF and Working Capital was converted
to ‘Funding of Interest on Term Loan’ amounting to Rs. 674.600 Million, which
shall be repayable in 4.5years after completion of moratorium period i.e.
October, 2014. viii.
Working Capital loans were converted to Working Capital Term Loans
amounting Rs.4173.566 Million, which shall be repayable in 8 years, after
completion of moratorium period i.e. Oct, 2014. ix.
Vehicle loans from banks and others are secured by hypothecation of
the vehicles financed through the loan arrangements and are repayable over a
period of 36 months to 60 months. SHORT TERM
BORROWINGS
i.
Loans repayable on demand includes an amount of Rs. 6328.198 Million
(31.03.2013: Rs.5156.687 Million) represents working capital loans from banks
are inter alia secured by way of parri passu first charge on current assets
and parri passu second charge on fixed assets both present and future.
Further these loans are secured by personal guarantee and properties of
certain directors. ii.
Rs.408.502 Million has been brought by promoters as interest free
unsecured loan under CDR scheme which shall be converted in to equity shares
as per SEBI norms and Rs.10.000 Million from others in the previous year
carrying an interest of 17% per annum. |
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Auditors : |
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Name : |
CRK
and Associates Chartered Accountants |
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Address : |
Hyderabad,
Telangana, India |
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Cost Auditors : |
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Name : |
Nageswara Rao and
Company Cost Accountants |
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Address : |
Secunderabad |
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Collaborators : |
Not Divulged |
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Membership : |
Not Divulged |
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Subsidiaries (As on 31.03.2014) : |
Subsidiaries held
directly v Glade Steel Private Limited, India v Alpha Ventures Limited, Cayman Islands v Asian Tide Enterprises Limited, Hong Kong Subsidiaries held
indirectly v Optimix Enterprises Limited, Mauritius |
CAPITAL STRUCTURE
AS ON 31.03.2015
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital : Rs.1156.591
Million
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
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|
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|
310000000 |
Equity Shares |
Rs.5/- each |
Rs.1550.000 Million |
|
4500000 |
Preference
Shares |
Rs.100/- each |
Rs.450.000 Million |
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|
|
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Total |
|
Rs.2000.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
196350881 |
Equity Shares |
Rs.5/- each |
Rs.981.754
Million |
|
1493365 |
1%
Cumulative Redeemable Preference Shares |
Rs.100/-
each |
Rs.149.337
Million |
|
|
|
|
|
|
|
Total |
|
Rs.1131.091 Million |
NOTES:
i)
Reconciliation of
the number of shares and amount outstanding at the beginning and at the end of
the reporting year/period
|
Particulars |
31st March, 2014 |
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|
No. of Shares |
(Rs. in Million) |
|
|
a) Equity (including
shares represented by underlying GDRs) |
|
|
|
Shares outstanding at the
beginning of the year/period |
196350881 |
981.754 |
|
Shares issued during the
year/period |
-- |
-- |
|
Shares bought back during
the year/ period |
-- |
-- |
|
Shares outstanding at the end of the year/ period |
196350881 |
981.754 |
|
|
|
|
|
b) Cumulative Redeemable
Preference Shares |
|
|
|
Shares outstanding at the
beginning of the year/period |
1493365 |
149.337 |
|
Shares Issued during the
year/period |
-- |
-- |
|
Shares redeemed during
the year/period |
-- |
-- |
|
Shares outstanding at the end of the year/period |
1493365 |
149.337 |
ii)
Details of shares held by each shareholder holding more than 5% shares:
|
Name of Shareholder |
31st March, 2014 |
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|
No. of Shares held |
% held |
|
|
a)
Equity shares of Rs.5 each fully paid |
|
|
|
Yalamanchili
Finance & Trading Private Limited |
26766461 |
13.63 |
|
Foster
Infin and Trading Private Limited |
25000000 |
12.73 |
|
Deutsche
Bank Trust Company Americas |
-- |
-- |
|
Stressed
Assets Stabilisation Fund |
12759682 |
6.50 |
|
Sujana
Holdings Limited |
10000000 |
5.09 |
|
b) Cumulative Redeemable
Preference Shares of Rs.100 each fully paid |
|
|
|
IDBI
Bank Limited |
1493365 |
100.00 |
(iii) 13,140,489 Equity
shares issued as fully paid up to the shareholders of erstwhile Sujana Steels
Limited on its amalgamation with the company, for consideration other than
cash.
(iv) The company has only one
class of shares referred to as equity shares having a par value of Rs. 5/-.
Each holder of equity shares is entitled to one vote per share held.
In the event of
liquidation, the equity shareholders are eligible to receive the remaining
assets of the company after distribution of all preferential amounts, in
proportion to their shareholding. Nil (31.03.2013:12,946,000) equity shares
represent the shares underlying outstanding Global Depository Receipts (GDRs).
Each GDR represents 10 underlying equity shares.
(v) Redemption of
Cumulative Redeemable Preference Shares (CRPS)
1,493,365 1% of Cumulative
Redeemable Preference Shares of Rs.100 each aggregating to Rs.149.337 Million
is redeemable in 12 quarterly instalments co-terminus with principal payment commencing
from October 01, 2013 and ending July 01, 2016. CRPS carry cumulative
dividend@1% per annum. The company declares and pays dividend in Indian rupees
each. Each holder of CRPS is entitled to one vote per share only on resolutions
placed before the company which directly effect the rights attached to CRPS.
Three quarterly instalment
of Rs. 36.993 Million has been paid to IDBI (preference share holder) for
redemption of 3,73,340 numbers of 1% preference shares of Rs.100 each. However
these shares were not received by the company from IDBI for redemption. Hence
the amount of Rs.36.993 Million has been classified as advance.
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
1156.591 |
1131.091 |
1131.091 |
|
(b) Reserves & Surplus |
5812.526 |
5804.909 |
6188.205 |
|
(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) |
6969.117 |
6936.000 |
7319.296 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
9745.136 |
9400.876 |
7851.757 |
|
(b) Deferred tax liabilities (Net) |
707.547 |
683.101 |
614.913 |
|
(c) Other long term liabilities |
19.795 |
11.928 |
9.171 |
|
(d) long-term provisions |
30.861 |
29.154 |
24.297 |
|
Total Non-current Liabilities (3) |
10503.339 |
10125.059 |
8500.138 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
6010.332 |
6746.700 |
5166.687 |
|
(b) Trade payables |
6550.492 |
4501.403 |
2672.273 |
|
(c) Other current
liabilities |
764.264 |
1004.687 |
736.410 |
|
(d) Short-term provisions |
220.705 |
203.121 |
220.633 |
|
Total Current Liabilities (4) |
13545.793 |
12455.911 |
8796.003 |
|
|
|
|
|
|
TOTAL |
31018.249 |
29516.970 |
24615.437 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
5819.733 |
5149.022 |
4699.183 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
218.836 |
545.619 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1478.141 |
1422.940 |
1422.940 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
150.683 |
3481.774 |
732.316 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
7448.557 |
10272.572 |
7400.058 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.469 |
0.388 |
0.382 |
|
(b) Inventories |
2945.841 |
2800.397 |
1580.349 |
|
(c) Trade receivables |
17076.965 |
13897.619 |
13267.425 |
|
(d) Cash and cash
equivalents |
290.633 |
196.183 |
221.815 |
|
(e) Short-term loans and
advances |
3222.111 |
2294.713 |
2125.281 |
|
(f) Other current assets |
33.673 |
55.098 |
20.127 |
|
Total Current Assets |
23569.692 |
19244.398 |
17215.379 |
|
|
|
|
|
|
TOTAL |
31018.249 |
29516.970 |
24615.437 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
34515.978 |
28444.187 |
36498.548 |
|
|
|
Other Income |
102.991 |
211.689 |
154.159 |
|
|
|
TOTAL |
34618.969 |
28655.876 |
36652.707 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
31044.278 |
26847.262 |
33510.285 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(128.895) |
(1103.561) |
(92.158) |
|
|
|
Employees benefits expense |
215.576 |
231.266 |
239.994 |
|
|
|
Other expenses |
882.752 |
885.625 |
976.924 |
|
|
|
Exceptional Items |
2.846 |
0.000 |
0.000 |
|
|
|
TOTAL |
32016.557 |
26860.592 |
34635.045 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION |
2602.412 |
1795.284 |
2017.662 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
2158.950 |
1725.564 |
1809.973 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
443.462 |
69.720 |
207.689 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
389.673 |
382.866 |
412.301 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
53.789 |
(313.146) |
(204.612) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
44.413 |
68.410 |
(2.001) |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
9.376 |
(381.556) |
(202.611) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1104.067 |
1487.359 |
1715.415 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed dividend on CRPS |
|
1.493 |
1.493 |
|
|
|
Dividend distribution tax |
|
0.243 |
0.241 |
|
|
|
CRPS redemption reserve |
|
0.000 |
23.711 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
1104.067 |
1487.359 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
|
|
FOB Value of Exports |
|
2605.170 |
6858.603 |
|
|
TOTAL EARNINGS |
NA |
2605.170 |
6858.603 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials including stock in trade |
|
745.642 |
1053.483 |
|
|
TOTAL IMPORTS |
NA |
745.642 |
1053.483 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
0.04 |
(1.95) |
(1.04) |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
NA |
160.593 |
161.380 |
|
Cash generated from operations |
NA |
(782.878) |
(3183.217) |
|
Net cash flow from operating activities |
NA |
(788.772) |
(3228.203) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin PAT / Sales |
(%) |
0.03 |
(1.34) |
(0.56) |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
7.54 |
6.31 |
5.53 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets) |
(%) |
0.18 |
(1.12) |
(0.90) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.01 |
(0.05) |
(0.03) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.26 |
2.35 |
1.80 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.74 |
1.55 |
1.96 |
STOCK
PRICES
|
Face Value |
Rs.5.00/- |
|
Market Value |
Rs.2.80/- |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Share Capital |
1131.091 |
1131.091 |
1156.591 |
|
Reserves & Surplus |
6188.205 |
5804.909 |
5812.526 |
|
Net
worth |
7319.296 |
6936.000 |
6969.117 |
|
|
|
|
|
|
long-term borrowings |
7851.757 |
9400.876 |
9745.136 |
|
Short term borrowings |
5166.687 |
6746.700 |
6010.332 |
|
Total
borrowings |
13018.444 |
16147.576 |
15755.468 |
|
Debt/Equity
ratio |
1.779 |
2.328 |
2.261 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Sales |
36498.548 |
28444.187 |
34515.978 |
|
|
|
(22.068) |
21.346 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Sales
|
36498.548 |
28444.187 |
34515.978 |
|
Profit |
(202.611) |
(381.556) |
9.376 |
|
|
(0.56%) |
(1.34%) |
0.03% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
LITIGATION DETAILS:
|
CP 175 / 2013 CPSR
4864 / 2013 CASE IS:PENDING
|
||||||||||||
|
||||||||||||
|
UNSECURED LOANS
|
PARTICULAR |
31.03.2015 (Rs.
In Million) |
31.03.2014 (Rs.
In Million) |
|
SHORT TERM
BORROWINGS |
|
|
|
Loans repayable on demand |
|
|
|
From Banks |
|
418.502 |
|
|
|
|
|
Total |
NA |
418.502 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10437144 |
01/10/2013 * |
2,262,100,000.00 |
PUNJAB NATIONAL BANK |
Maker Towers E Ground
Floor, Cuffe Parade, Mumbai, Maharashtra - 400005, INDIA |
B89591317 |
|
2 |
10437145 |
01/10/2013 * |
400,000,000.00 |
PUNJAB NATIONAL BANK |
Maker Towers E Ground
Floor, Cuffe Parade, Mumbai, Maharashtra - 400005, INDIA |
B89592125 |
|
3 |
10437192 |
01/10/2013 * |
4,918,700,000.00 |
PUNJAB NATIONAL BANK |
Maker Towers E Ground
Floor, Cuffe Parade, Mumbai, Maharashtra - 400005, INDIA |
B89591689 |
|
4 |
10399112 |
12/01/2013 |
400,000,000.00 |
LAKSHMI VILAS BANK
LIMITED |
CHENNAI MAIN BRANCH, No.275,Thambu
Chetty Street, CHENNAI, Tamil Nadu - 600001, INDIA |
B66498056 |
|
5 |
10370071 |
19/06/2012 |
320,000,000.00 |
Indian Overseas Bank |
762, IOB Buildings,
Annasalai, Chennai, Tamil Nadu - 600002, INDIA |
B45520491 |
|
6 |
10297932 |
03/01/2012 * |
1,000,000,000.00 |
ORIENTAL BANK OF COMMERCE |
769, SPENCER PLAZA, ANNA
SALAI, CHENNAI, Tamil Nadu - 600002, INDIA |
B28990125 |
|
7 |
10238591 |
01/10/2013 * |
3,407,900,000.00 |
PUNJAB NATIONAL BANK |
Maker Towers E Ground Floor,
Cuffe Parade,, Mumbai, Maharashtra - 400005, INDIA |
B89589410 |
|
8 |
10199987 |
01/10/2013 * |
8,228,000,000.00 |
PUNJAB NATIONAL BANK |
Maker Towers E Ground
Floor, Cuffe Parade, Mumbai, Maharashtra - 400005, INDIA |
B89588651 |
|
9 |
10170459 |
08/04/2011 * |
340,000,000.00 |
Karnataka Bank Limited |
Rajbhavan Road,
Somajiguda, Hyderabad, Andhra Pradesh - 500082, INDIA |
B13712740 |
|
10 |
10103325 |
22/02/2008 |
120,000,000.00 |
SBI FACTORS AND
COMMERCIAL SERVICES PRIVATE LIMITED |
903-906, RAHEJA CHAMBERS,
9TH FLOOR,, FREE PRESS JOURNAL MARG, NARIMAN POINT, MUMBAI,
Maharashtra |
A38770301 |
|
11 |
10036374 |
19/02/2007 |
200,000,000.00 |
KARNATAKA BANK LTD. |
6-3-1090/A, Bhupal Towers,
Raj bhavan road, Hyderabad, Andhra Pradesh - 500016, INDIA |
A10444818 |
|
12 |
80032176 |
28/01/2005 |
50,000,000.00 |
Bank of Baroda |
Chennai Main Branch, 28
Rajaji Salai, Chennai, Tamil Nadu - 600001, INDIA |
- |
|
13 |
90262491 |
03/07/2004 |
45,000,000.00 |
BANK OF BARODA |
CHENNAI MAIN BRANCH, 28
RAJAJI SALAI, CHENNAI, Tamil Nadu, INDIA |
- |
|
14 |
90262043 |
24/03/2014 * |
200,000,000.00 |
IDBI Bank Limited |
IDBI Tower, Cuffe Parade,
Mumbai, Maharashtra - 400005, INDIA |
C06052054 |
|
15 |
90292903 |
24/03/2014 * |
350,000,000.00 |
IDBI Bank Limited |
IDBI Tower, Cuffe Parade,
Mumbai, Maharashtra - 400005, INDIA |
C06052245 |
|
16 |
80032054 |
24/03/2014 * |
100,000,000.00 |
IDBI Bank Limited |
IDBI Tower, Cuffe Parade,
Mumbai, Maharashtra - 400005, INDIA |
C06049449 |
|
17 |
80032055 |
18/02/2000 * |
220,000,000.00 |
Industrial development
Bank of India |
IDBI Tower, Cuffe Parade,
Mumbai, Maharashtra - 400005, INDIA |
- |
|
18 |
80032056 |
24/03/2014 * |
107,457,960.00 |
IDBI Bank Limited |
IDBI Tower, Cuffe Parade,
Mumbai, Maharashtra - 400005, INDIA |
C06049845 |
|
19 |
90261671 |
24/03/2014 * |
190,000,000.00 |
IDBI Bank Limited |
IDBI Tower, Cuffe Parade,
Mumbai, Maharashtra - 400005, INDIA |
C06051023 |
|
20 |
90261619 |
16/03/1998 |
25,000,000.00 |
BANK OF BROD |
RAJJI SALAI, CHENNAI,
Tamil Nadu, INDIA |
- |
|
21 |
90261552 |
25/03/1998 * |
130,000,000.00 |
INDUSTRIAL DEVELOPMENT
BANK OF INDIA |
IDBI Tower, Cuffe Parade,
Mumbai, Maharashtra - 400005, INDIA |
- |
|
22 |
90261498 |
07/05/1997 |
325,125,000.00 |
STATE BANK OF HYDERABAD |
IFB BRANCH, HYDERABAD,
Andhra Pradesh, INDIA |
- |
|
23 |
90261483 |
28/03/1997 |
50,000,000.00 |
INDUSTRIAL DEVELOPMENT
BANK OF INDIA |
IDBI Tower, Cuffe Parade,
Mumbai, Maharashtra - 400005, INDIA |
- |
|
24 |
90292460 |
24/03/2014 * |
180,000,000.00 |
IDBI Bank Limited |
IDBI Tower, Cuffe Parade,
Mumbai, Maharashtra - 400005, INDIA |
C06050389 |
|
25 |
90261474 |
24/03/2014 * |
50,000,000.00 |
IDBI Bank Limited |
IDBI Tower, Cuffe Parade,
Mumbai, Maharashtra - 400005, INDIA |
C06049167 |
|
26 |
90261409 |
19/08/1996 |
20,000,000.00 |
ANDHRA PREDESH INDUSTRIAL
DEVELOPMENT CORPORATION LTD. |
PARISHRMA BHAWAN, FATEH
MAIDAN ROA, HYDERABAD, Andhra Pradesh, INDIA |
- |
|
27 |
90261405 |
31/07/1996 |
60,000,000.00 |
BANK OF MADURA LIMITED |
K.J. MARKET, HYDERABAD,
Andhra Pradesh, INDIA |
- |
|
28 |
90261378 |
24/03/2014 * |
30,000,000.00 |
IDBI Bank Limited |
IDBI Tower, Cuffe Parade,
Mumbai, Maharashtra - 400005, INDIA |
C06048110 |
|
29 |
90261324 |
29/12/1995 |
7,500,000.00 |
MODAL FINANCIAL
CORPORATION LIMITED |
MODAL HOUSE, PANJGUTTA,
HYDERABAD, Andhra Pradesh, INDIA |
- |
|
30 |
90261299 |
09/11/1989 * |
60,000,000.00 |
STTAE BANK OF INDIA |
BALANAGAR BRANCH,
HYDERABD, Andhra Pradesh, INDIA |
- |
|
21 |
90261552 |
25/03/1998 * |
130,000,000.00 |
INDUSTRIAL DEVELOPMENT
BANK OF INDIA |
IDBI TOWER, CUFFE PARADE,
MUMBAI, Maharashtra, INDIA |
- |
|
22 |
90261498 |
07/05/1997 |
325,125,000.00 |
STATE BANK OF HYDERABAD |
IFB BRANCH, HYDERABAD, Andhra
Pradesh, INDIA |
- |
|
23 |
90261483 |
28/03/1997 |
50,000,000.00 |
INDUSTRIAL DEVELOPMENT
BANK OF INDIA |
IDBI TOWER, CUFFE PARADE,
MUMBAI, Maharashtra, INDIA |
- |
|
24 |
90292460 |
24/03/2014 * |
180,000,000.00 |
IDBI Bank Limited |
IDBI Tower,, Cuffe
Parade, Mumbai, Maharashtra - |
C06050389 |
|
25 |
90261474 |
24/03/2014 * |
50,000,000.00 |
IDBI Bank Limited |
IDBI Tower, Cuffe Parade,
Mumbai, Maharashtra - 400005, INDIA |
C06049167 |
|
26 |
90261409 |
19/08/1996 |
20,000,000.00 |
ANDHRA PREDESH INDUSTRIAL
DEVELOPMENT CORPORATION |
PARISHRMA BHAWAN, FATEH
MAIDAN ROA, HYDERABAD, Andhra Pradesh, INDIA |
- |
|
27 |
90261405 |
31/07/1996 |
60,000,000.00 |
BANK OF MADURA LIMITED |
K.J. MARKET, HYDERABAD, Andhra
Pradesh, INDIA |
- |
|
28 |
90261378 |
24/03/2014 * |
30,000,000.00 |
IDBI Bank Limited |
IDBI Tower, Cuffe Parade,
Mumbai, Maharashtra - 400005, INDIA |
C06048110 |
|
29 |
90261324 |
29/12/1995 |
7,500,000.00 |
MODAL FINANCIAL
CORPORATION LIMITED |
MODAL HOUSE, PANJGUTTA,
HYDERABAD, Andhra Pradesh, INDIA |
- |
|
30 |
90261299 |
09/11/1989 * |
60,000,000.00 |
STTAE BANK OF INDIA |
BALANAGAR BRANCH,
HYDERABD, Andhra Pradesh, INDIA |
- |
|
41 |
90260975 |
26/04/1993 * |
3,000,000.00 |
BANK OF BAROD |
MASAB TANK ROAD,
HYDERABD, Andhra Pradesh, INDIA |
- |
|
42 |
90260967 |
14/10/1992 |
2,900,000.00 |
INDUSTRIAL DEVELOPMENT
BANK OF INDIA |
IDBI TOWER, CUFFE PARDE,
MUMBAI, Maharashtra, INDIA |
- |
|
43 |
90260706 |
09/11/1989 * |
7,400,000.00 |
STTAE BANK OF INDIA |
BALANAGAR BRANCH,
HYDERABD, Andhra Pradesh, INDIA |
- |
* Date of charge modification
CONTINGENT
LIABILITIES:
|
Particulars |
|
31.03.2014 (Rs.
in Million) |
|
(a)
Contingent liabilities |
|
|
|
(i)
Claims against the Company not acknowledged as debts in respect of: |
|
|
|
Excise
Duty |
|
212.020 |
|
Custom
Duty |
|
83.949 |
|
TNVAT/APGST/CST |
|
219.812 |
|
Income
Tax (Net of liability as per return) |
|
147.925 |
|
FEMA* |
|
40.000 |
|
|
|
|
|
(ii)
Guarantees |
|
|
|
Corporate
Guarantees furnished on behalf of Sujana Universal Industries Limited |
|
8141.000 |
|
Corporate
guarantee furnished on behalf of Optimix Enterprises Limited (USD 75 lakhs) |
|
408.750 |
|
|
|
|
|
(b)
Commitments |
|
|
|
Export
commitments on account of import of machinery and equipments at concessional
duty under EPCG scheme (31.03.2012: Rs.112.916 Million) .Such export
commitments need to be fulfilled by the Company on or before 23 April 2016.
As on 31 March 2012, the Company has fulfilled its export commitments and
which are pending final approval of Director General of Foreign Trade. In the
event of non-fulfillment of the export commitments by 23 April 2016 by the
Company, the liability (excluding interest and penalties) towards customs
duty |
|
11.216 |
|
*Against which bank guarantee of Rs.2150.000 Million has been issued. |
||
FIXED ASSETS
· Land- Freehold
· Buildings
· Plant and Machinery
· Electrical Installation
· Furniture and Fixtures
· Office Equipment
· Vehicles
· Computers
· 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 records 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.63.82 |
|
|
1 |
Rs.99.15 |
|
Euro |
1 |
Rs.69.31 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
1 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
16 |
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.