MIRA
INFORM REPOR
|
Report No. : |
326768.2 |
|
Report Date : |
07.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
SAMSON CONTROLS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
D-281, Ranjangaon Industrial Area, Pune – 412208, Maharashtra |
|
Tel. No.: |
91-2138-665600 |
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|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
22.05.1964 |
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|
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|
Com. Reg. No.: |
11-134656 |
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Capital
Investment / Paid-up Capital : |
Rs.6.686
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999PN1964PTC134656 |
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|
|
IEC No.: |
0388078472 |
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TIN No.: |
Not Available |
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|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
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|
|
PAN No.: [Permanent Account No.] |
AAACP333IQ |
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|
Legal Form : |
Private Limited Liability Company |
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|
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|
Line of Business
: |
The company is engaged in the manufacturing of
control valves and related spare parts and accessories. |
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|
|
|
No. of Employees
: |
Information denied by management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (63) |
|
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 |
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|
|
Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an old and well established company, incorporated during
the year 1964. The company is engaged in manufacturing of control valves. It
has a fine track record. Under a review of the year 2014, the company has achieved an effective
turnover with the profitability margin of 21.7%. Rating also reflects strong financial risk profile backed by
appropriate net worth base and zero debt balance sheet profile of the company.
There is good gap maintained between trade payables and trade
receivables. Trade relations are reported as fair. Business is active. Payment
terms results to be regular and as per commitment. In view of reasonable financial base with decent operational profile,
the company can be considered good for normal 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
NOT AVAILABLE
RBI DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ 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 BY
|
Name : |
Mr. Sachin |
|
Designation : |
Admin Department |
|
Contact No.: |
91-2138-665600 |
|
Date : |
09.06.2015 |
LOCATIONS
|
Registered Office /Factory : |
D-281, Ranjangaon Industrial Area, Pune – 412208, Maharashtra, India |
|
Tel. No.: |
91-2138-665600 |
|
Fax No.: |
91-2138-665666 |
|
E-Mail : |
abhijeet.kubal@samsoncontrols.net nitin.sabde@samsoncontrols.net |
|
Website : |
DIRECTORS
As on 08.08.2014
|
Name : |
Erich Hans Grimm |
|
Designation : |
Director |
|
Address : |
Langener Strasse – 83, 63073, Offenbach Am Main, Germany |
|
Date of Birth/Age : |
18.04.1951 |
|
Date of Appointment : |
26.06.1997 |
|
DIN No.: |
00383718 |
|
|
|
|
Name : |
Ludwig Emil Wiesner |
|
Designation : |
Director |
|
Address : |
Waldstrasse 64, 64367, Muehltal, Germany |
|
Date of Birth/Age : |
21.09.1951 |
|
Date of Appointment : |
18.12.2004 |
|
Din No.: |
00392935 |
|
|
|
|
Name : |
Mr. Atul Bhaskar Raje |
|
Designation : |
Managing Director |
|
Address : |
Tivoli 2601, Hiranandani Garden, Powai, Mumbai – 400076, Maharashtra,
India |
|
Date of Birth/Age : |
11.04.1959 |
|
Date of Appointment : |
11.01.2011 |
|
DIN No.: |
00881047 |
|
|
|
|
Name : |
Ingo Koch |
|
Designation : |
Director |
|
Address : |
Kirschgarten 8, 63755, Alzenau, Germany |
|
Date of Birth/Age : |
13.07.1961 |
|
Date of Appointment : |
18.09.2012 |
|
DIN No.: |
06402239 |
KEY EXECUTIVES
|
Name : |
Mr. Sachin |
|
Designation : |
Admin Department |
MAJOR SHAREHOLDERS
As on 08.08.2014
|
Names of Shareholders |
|
No. of Shares |
|
Samson International SA, Luxemburg |
|
66851 |
|
Vogel UWE, Germany |
|
5 |
|
Total |
|
66856 |
Equity Share Break up (Percentage of Total Equity)
As on 08.08.2014
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
99.99 |
|
Directors or relatives of Directors |
0.01 |
|
Total |
100.00 |
_MIRA%2007-Aug-2015_files/image013.gif)
BUSINESS DETAILS
|
Line of Business : |
The company is engaged in the manufacturing
of control valves and related spare parts and accessories. |
|
|
|
|
Products : |
Control valves and related spare parts and
accessories. |
|
|
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Brand Names : |
-- |
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Agencies Held : |
-- |
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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 denied by management |
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Bankers : |
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Auditors : |
|
|
Name : |
BBSR and Company Chartered Accountants |
|
Address : |
703, 7th Floor, Godrej Castlemine, Next to Ruby Hall
Clinic, Bund Garden Road, Pune – 411001, Maharashtra, India |
|
Tel No.: |
91-20-30504000 |
|
Fax No.: |
91-20-30504100 |
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PAN No: |
AAKFB4397F |
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Memberships : |
-- |
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Collaborators : |
-- |
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Holding Company : |
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Fellow Subsidiary : |
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CAPITAL STRUCTURE
As on 08.08.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.100/- each |
Rs.10.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
66856 |
Equity Shares |
Rs.100/-
each |
Rs.6.686
Million |
FINANCIAL DATA
[all figures are in
Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
6.686 |
5.085 |
4.548 |
|
(b) Reserves & Surplus |
1,095.912 |
691.055 |
513.319 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
329.520 |
95.046 |
|
Total
Shareholders’ Funds (1) + (2) |
1,102.598 |
1,025.660 |
612.913 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
17.717 |
17.789 |
11.233 |
|
(c) Other long term
liabilities |
11.382 |
5.449 |
3.463 |
|
(d) long-term
provisions |
0.220 |
0.789 |
0.774 |
|
Total Non-current
Liabilities (3) |
29.319 |
24.027 |
15.470 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
153.027 |
115.046 |
66.497 |
|
(c) Other
current liabilities |
58.026 |
31.977 |
29.647 |
|
(d) Short-term
provisions |
35.444 |
16.017 |
7.003 |
|
Total Current
Liabilities (4) |
246.497 |
163.040 |
103.147 |
|
|
|
|
|
|
TOTAL |
1,378.414 |
1,212.727 |
731.530 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
465.387 |
479.969 |
287.105 |
|
(ii)
Intangible Assets |
1.466 |
0.190 |
0.160 |
|
(iii)
Capital work-in-progress |
0.000 |
0.111 |
2.688 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
5.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
16.687 |
9.426 |
4.886 |
|
(e) Other
Non-current assets |
370.308 |
23.665 |
49.515 |
|
Total Non-Current
Assets |
853.848 |
513.361 |
349.354 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
5.000 |
0.000 |
|
(b)
Inventories |
199.607 |
223.498 |
111.653 |
|
(c) Trade
receivables |
240.243 |
121.926 |
95.968 |
|
(d) Cash
and cash equivalents |
74.634 |
336.368 |
160.881 |
|
(e)
Short-term loans and advances |
10.037 |
12.066 |
7.391 |
|
(f) Other
current assets |
0.045 |
0.508 |
6.283 |
|
Total Current
Assets |
524.566 |
699.366 |
382.176 |
|
|
|
|
|
|
TOTAL |
1,378.414 |
1,212.727 |
731.530 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
||
|
|
SALES |
|
|
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||
|
|
|
Income |
691.000 |
554.200 |
410.900 |
|
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
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TOTAL |
NA |
NA |
NA |
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||
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EXPENSES |
NA |
NA |
NA |
||
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||
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|
PROFIT/(LOSS)
BEFORE TAX |
155.600 |
138.900 |
NA |
||
|
|
|
|
|
|
||
|
Less |
TAX |
55.300 |
44.000 |
NA |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX |
100.300 |
94.900 |
62.300 |
||
|
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||
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EARNINGS IN
FOREIGN CURRENCY |
|
|
|
||
|
|
|
Export Earnings |
81.001 |
1.568 |
1.221 |
|
|
|
|
Commission Earnings |
3.914 |
7.241 |
9.731 |
|
|
|
|
Other Earnings |
103.071 |
19.402 |
0.000 |
|
|
|
TOTAL EARNINGS |
187.986 |
28.211 |
10.952s |
||
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|
|
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||
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IMPORTS |
|
|
|
||
|
|
|
Raw Materials |
181.454 |
186.924 |
110.617 |
|
|
|
|
Fixed Assets |
4.972 |
71.168 |
5.092 |
|
|
|
TOTAL IMPORTS |
186.426 |
258.092 |
115.709 |
||
|
|
|
|
|
|
||
|
|
Earnings /
(Loss) Per Share (Rs.) |
1574.56 |
1914.00 |
NA
|
||
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
132.652 |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
14.52 |
17.12 |
15.16 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.29 |
11.45 |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.14 |
0.14 |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.13 |
4.29 |
3.71 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Share Capital |
4.548 |
5.085 |
6.686 |
|
Reserves & Surplus |
513.319 |
691.055 |
1095.912 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
95.046 |
329.520 |
0.000 |
|
Net
worth |
612.913 |
1025.660 |
1102.598 |
|
|
|
|
|
|
Long Term borrowings |
0.000 |
0.000 |
0.000 |
|
Short Term borrowings |
0.000 |
0.000 |
0.000 |
|
Current Maturities of Long term debt |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
_MIRA%2007-Aug-2015_files/image015.gif)
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Sales |
410.900 |
554.200 |
691.000 |
|
|
|
34.875 |
24.684 |
_MIRA%2007-Aug-2015_files/image017.gif)
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Sales
|
410.900 |
554.200 |
691.000 |
|
Profit |
62.300 |
94.900 |
100.300 |
|
|
15.16% |
17.12% |
14.52% |
_MIRA%2007-Aug-2015_files/image019.gif)
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 |
Yes |
|
8 |
Designation of contact person |
Yes |
|
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 |
No |
|
21 |
Banking facility details |
No |
|
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 |
No |
|
32 |
Litigations that the firm/promoter
involved in |
---------- |
|
33 |
Market information |
---------- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
BACKGROUND:
Subject was incorporated on 25 September 1965
under the Indian Companies Act, 1956 as a private limited company. The company
is a subsidiary of Samson International Holding, Luxembourg SA. The company is
engaged in the manufacturing of control valves and has its manufacturing
location at Ranjangaon, Pune.
OPERATIONS:
The directors inform that the company achieved
a turnover of Rs.691.000 Million during the year as against the turnover of
Rs.554.200 Million during the previous year.
After charging all the expenses the company
earned a profit of Rs.155.600 Million as against the profit of Rs.138.900
Million of previous year.
The order book of the company is healthy and
the directors are confident of improved performance during the
NO CHARGES EXIST FOR
COMPANY
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources including
but not limited to: The Courts, India Prisons Service, Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist organization
or whom notice had been received that all financial transactions involving
their assets have been blocked or convicted, found guilty or against whom a
judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report : No
press reports / filings exists on the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.76 |
|
|
1 |
Rs.99.60 |
|
Euro |
1 |
Rs.69.71 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
TRI |
|
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|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILITY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
63 |
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.