MIRA INFORM REPORT

 

 

Report No. :

336179

Report Date :

11.08.2015

 

IDENTIFICATION DETAILS

 

Name :

PARVEEN INDUSTIRES PRIVATE LIMITED

 

 

Registered Office :

32, Phase II, Badli Industrial Estate, New Delhi-110042

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

01.09.1960

 

 

Com. Reg. No.:

55-003290

 

 

Capital Investment / Paid-up Capital :

Rs.5.000 Million

 

 

CIN No.:

[Company Identification No.]

U74999DL1960PTC003290

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

DELP00667C / DELP09122B / DELP08355E

 

 

PAN No.:

[Permanent Account No.]

AAACP4029K

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

The company engaged in Manufacturing and Supply of Oil Field Equipment for Oil and Gas Industry.

 

 

No. of Employees :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (48)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 6600000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having satisfactory track record.

 

General financial position of the company seems to be sound and healthy. 

 

Trade relations are fair. Business is active. Payment terms are reported to be usually correct. The company can be considered for business dealings at usual trade terms and condition.

 

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

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

Not Available

Rating

Not Available

Rating Explanation

Not Available

Date

Not Available

 

 

RBI DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

 

 

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2013.

 

 

INFORMATION DECLINED BY

 

Name :

Mr. Parveen Kumar Gupta

Designation :

Director

Mobile No.:

91-22-27690897

Date :

08.08.2015

 

 

LOCATIONS

 

Registered Office :

32, Phase II, Badli Industrial Estate, Delhi-110042, India

Tel. No.:

91-11-27855468 / 20063882 / 27850008 / 27855468 / 27854612 / 25781927 / 42810000

Mobile No.:

91-9911900240 (Mr Praveen)

Fax No.:

91-11-27857612 / 3626 / 42810022

E-Mail :

parveen@nde.vsnl.net.in

icmas@rediffmail.com

Website :

http://www.parveenoilfield.com

 

 

Factory / Warehouse  :

32, Phase II, Badli Industrial Estate, Delhi-110042, India

Tel. No.:

91-11-27855468 / 20063882 / 27850008 / 27855468 / 27854612 / 25781927 / 42810000

Fax No.:

91-11-27857612 / 3626 / 42810022

 

 

Factory / Warehouse  :

R-55, MIDC, TTC Industrial Area, Thana Belapur Road, Navi Mumbai – 400701, Maharashtra,India

Tel. No.:

91-22-27690897 / 27694725 / 27640609 / 55905732

Fax No.:

91-22-55905731

 

 

Forging Plant :

Plot No:- 459, EPIP, Kundli Industrial Estate, Kundli, Sonepat, Haryana, India 

Tel. No.:

91-130-2372017/2372018/2371154

Fax No.:

91-130-2371154

E-Mail :

parveen@nde.vsnl.net.in

 

 

DIRECTORS

 

As on : 30.09.2014

 

Name :

Mr. Prakash Kumar Mittal

Designation :

Director

Address :

65 – A, Cozi Home, Pali Hill, Bandra (West), Mumbai, Maharashtra, India

Date of Birth/Age :

12.09.1951

Date of Appointment :

23.06.1989

PAN No.:

AAGPM7845R

DIN No.:

00379012

Other Directorship :

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U74999DL1960PTC003290

PARVEEN INDUSTRIES PVT LTD

Director

23/06/1989

23/06/1989

-

Active

NO

2

U74899DL1981PTC012223

PARVEEN INTERNATIONAL PRIVATE LIMITED

Director

04/04/2006

04/04/2006

-

Active

NO

3

U01403MH2007PTC167124

PARVEEN AGROTECH PRIVATE LIMITED

Director

18/01/2007

18/01/2007

-

Active

NO

 

 

Name :

Mr. Prabhat Kumar Gupta

Designation :

Director

Address :

2-A, Prem Shanti Kunj, 2-Club Road Civil Line, Delhi-110054, India

Date of Birth/Age :

16.11.1957

Date of Appointment :

14.11.1995

PAN No.:

AAKP2240A

DIN No.:

00389360

Other Directorship :

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U74999DL1960PTC003290

PARVEEN INDUSTRIES PVT LTD

Director

14/11/1995

14/11/1995

-

Active

NO

2

U74899DL1981PTC012223

PARVEEN INTERNATIONAL PRIVATE LIMITED

Director

20/06/2006

20/06/2006

-

Active

NO

3

U74900DL2014PTC272583

WEAFRI WELL SERVICES PRIVATE LIMITED

Director

20/10/2014

20/10/2014

-

Active

NO

 

 

Name :

Mr. Sanjiv Kumar

Designation :

Director

Address :

2-E, Kamla Nagar, Delhi – 110007, India

Date of Birth/Age :

13.10.1960

Date of Appointment :

07.12.1987

PAN No.:

AHHPK4360P

DIN No.:

00379012

Other Directorship :

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U74999DL1960PTC003290

PARVEEN INDUSTRIES PVT LTD

Director

07/12/1987

07/12/1987

-

Active

NO

2

U01403MH2007PTC167124

PARVEEN AGROTECH PRIVATE LIMITED

Director

18/01/2007

18/01/2007

-

Active

NO

 

Name :

Mr. Parveen Kumar Gupta

Designation :

Director

Address :

2-E, Kamla Nagar, Delhi – 110007, India

Date of Birth/Age :

12.09.1956

Date of Appointment :

01.08.1981

PAN No.:

AAIPG1829R

DIN No.:

00264588

Other Directorship :

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U74899DL1981PTC012223

PARVEEN INTERNATIONAL PRIVATE LIMITED

Director

24/09/1981

24/09/1981

-

Active

NO

2

U74999DL1960PTC003290

PARVEEN INDUSTRIES PVT LTD

Director

01/08/1999

01/08/1999

-

Active

NO

3

U01403MH2007PTC167124

PARVEEN AGROTECH PRIVATE LIMITED

Director

18/01/2007

18/01/2007

-

Active

NO

 

Name :

Mr. Mayank Gupta

Designation :

Director

Address :

2-E, Kamla Nagar, Delhi – 110007, India

Date of Birth/Age :

10.01.1985

Date of Appointment :

01.10.2011

DIN No.:

06453095

PAN No.:

AGPPG4665G

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on : 30.09.2014

 

Names of Shareholders

 

No. of Shares

Parveen Kumar Gupta

 

79988

Prakash Kumar Gupta

 

79888

Prabhat Kumar Gupta

 

87988

Sanjiv Kumar

 

88076

Rajni Gupta

 

36960

Veena Mittal

 

36940

Poonam Gupta

 

36920

Sunita Gupta

 

36920

Mayank Gupta

 

8000

Anshu Mittal

 

8000

Pradip Kumar

 

100

Neel Garg

 

80

Promila Garg

 

20

Manish Aggarwal

 

10

Anshu Kumar Aggarwal

 

10

Anjani Aggarwal

 

100

Total

 

500000

 

 

Equity Share Break up (Percentage of Total Equity)

 

Category

Percentage

%age

Directors or relatives of Directors

99.98

99.98

Other top fifty shareholders

0.02

0.02

Total

100.00

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

The company engaged in Manufacturing and Supply of Oil Field Equipment for Oil and Gas Industry.

 

 

Products :
  • Side Pocket Mandrel
  • Plug Valve
  • Hammer Union
  • DNV Baskets
  • Gas Lift Valves
  • Coll Tubing BOP

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

 

Products :
  • Side Pocket Mandrel
  • Plug Valve
  • Hammer Union
  • DNV Baskets
  • Gas Lift Valves
  • Coll Tubing BOP

Countries :
  • USA
  • Canada
  • Kuwait
  • Venezula
  • Brazil
  • Iran
  • Indonesia
  • Malaysia
  • Singapore
  • Middle
  • East
  • Europe

 

Item Code No. (ITC Code)

Product Description

73079990

Pipe Fitting

84818030

Industrial Value

 

 

Imports :

Not Divulged

 

 

Terms :

Not Divulged

 

 

GENERAL INFORMATION

 

Suppliers :

 

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

Customers :

 

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

No. of Employees :

Not Divulged 

 

 

Bankers :

Banker Name

Citibank N.A.

Branch Address

Jeevan Bharti Building, 4th Floor, 124 Connaught Circus, Connaught Place, New Delhi – 110001, India

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

Facilities :

(Rs. In Million)

SECURED LOAN

As on

31.03.2014

As on

31.03.2013

Long Term Borrowing

 

 

Term Loan from bank

0.800

1.600

(Car Loan is secured against hypothecation of Car Repayable in equal installment of 35 months bearing no. interest rate and repayable by march,2016)

 

 

Short Term Borrowing

 

 

Term Loan from Bank

322.962

235.550

(Cash Credit, Bill Purchase and Packing Credit Facilities are secured by hypothecation of inventories and Book Debts of the Company.)

 

 

Total

323.762

237.150

 

Auditors :

 

Name :

Surender K. Aggarwal and Company

Chartered Accountants

Address :

I-2/16, Ansari Road, Darya Ganj, New Delhi – 110002, India

Tel. No.:

91-22-23243913 / 23245744

PAN No.:

AABFS9615A

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Subsidiaries Company :

·          American Completion Toolinc, American Samoa

·          Gulf Well Solution (FZCO), United Arab Emirates

·          PIL DE Venzucla, C.A., Venezuela Bolivarian Republic Of

 

CAPITAL STRUCTURE

 

As on : 30.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

500000

Equity Shares

Rs.10/- each

Rs.5.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

500000

Equity Shares

Rs.10/- each

Rs.5.000 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

5.000

5.000

5.000

(b) Reserves & Surplus

2312.730

2014.561

1645.444

(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)

2317.730

2019.561

1650.444

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

0.800

1.600

0.362

(b) Deferred tax liabilities (Net)

27.604

26.301

24.068

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

0.000

0.000

0.000

Total Non-current Liabilities (3)

28.404

27.901

24.430

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

322.966

239.675

242.113

(b) Trade payables

147.948

222.769

148.331

(c) Other current liabilities

78.771

62.131

73.876

(d) Short-term provisions

0.192

40.218

23.075

Total Current Liabilities (4)

549.877

564.793

487.395

 

 

 

 

TOTAL

2896.011

2612.255

2162.269

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

673.245

674.734

586.346

(ii) Intangible Assets

1.702

0.605

0.000

(iii) Capital work-in-progress

8.205

0.445

0.000

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

109.765

95.602

36.982

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

75.563

65.574

79.579

(e) Other Non-current assets

2.551

2.426

6.408

Total Non-Current Assets

871.031

839.386

709.315

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

664.384

668.718

449.100

(c) Trade receivables

897.787

743.828

696.422

(d) Cash and cash equivalents

61.318

28.751

25.453

(e) Short-term loans and advances

390.930

326.188

277.720

(f) Other current assets

10.561

5.384

4.259

Total Current Assets

2024.980

1772.869

1452.954

 

 

 

 

TOTAL

2896.011

2612.255

2162.269

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

TOTAL                                    

NA

NA

NA

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

TOTAL                                    

NA

NA

NA

 

 

 

 

 

 

PROFIT BEFORE TAX

NA

NA

NA

 

 

 

 

 

Less

TAX                                                                 

NA

NA

NA

 

 

 

 

 

 

PROFIT AFTER TAX

285.540

362.645

252.271

 

 

 

 

 

 

Earnings Per Share (Rs.)

571.08

725.29

504.54

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

0.800

1.096

26.954

Cash generated from operations

NA

NA

NA

Net cash flow from operating activity

147.616

238.993

355.829

 

 

 

KEY RATIOS

 

PARTICULARS

 

31.03.2014

31.03.2013

31.03.2012

 

 

 

 

Debt Equity Ratio (Total Debt /Networth)

 

0.14

0.12

0.15

 

 

 

 

 

Current Ratio (Current Asset/Current Liability)

 

3.68

3.14

2.98

 

 

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

5.000

5.000

5.000

Reserves & Surplus

1645.444

2014.561

2312.730

Net worth

1650.444

2019.561

2317.730

 

 

 

 

long-term borrowings

0.362

1.600

0.800

Short term borrowings

242.113

239.675

322.966

Total borrowings

242.475

241.275

323.766

Debt/Equity ratio

0.147

0.119

0.140

 

 

 

 

 

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

Yes

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)

Yes

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

No

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

No

35

Negative Reporting by Auditors in the Annual Report

No

 

 

 

 

 

PERFORMANCE:

 

The performance of the company during the year was satisfactory. The company continues to be engaged in manufacture and supply of oil field equipment for oil and gas industry. Most of the sales of the company are custom built to oil companies worldwide. The company is already exporting its products to USA, CANADA, Kuwait, VENEZULA, BRAZIL, IRAN, INDONESIA, MALASIA, SINGAPORE, MIDDLE EAST and EUROPE and now trying to export its products to CIS Countries also. Exports represent 80% of the company’s turnover for the year under report. In appreciation of outstanding expert performance, the Company is maintaining the EXPORT HOUSE status granted by Govt. of India. The company has ISO 9001; 1401; 2004, OHSASI8001; 2007 and also API Certification. These Qualifications have helped the company is selling Indian Oilfield Equipments worldwide.

 

 

UNSECURED LOAN

(Rs. In Million)

Particulars

As on

31.03.2014

As on

31.03.2013

Short Term Borrowing

 

 

Term Loan from others

0.004

4.125

Total

0.004

4.125

 

 

INDEX OF CHARGES

 

S.No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10328970

05/01/2012

20,000,000.00

Citibank N.A

Jeevan Bharti Building, 4th Floor, 124 Connaught 
Circus, Connaught Place, New Delhi, Delhi - 110001 
, INDIA

B29515699

2

10064836

10/08/2007

116,500,000.00

Citibank NA

Jeevan Vihar, 3 Sansad Marg, New Delhi, Delhi - 110001, INDIA

A21179098

3

10064589

11/07/2007

116,500,000.00

Citibank NA

Jeevan Vihar, 3 Sansad Marg, New Delhi, Delhi - 110001, INDIA

A21179338

4

10014401

09/07/2013 *

304,300,000.00

Citibank N.A

Jeevan Bharti Building, 4th Floor, 124 Connaught 
Circus, Connaught Place, New Delhi, Delhi - 110001 
, INDIA

B80630478

5

10014403

09/07/2013 *

304,300,000.00

Citibank N.A

Jeevan Bharti Building, 4th Floor, 124 Connaught 
Circus, Connaught Place, New Delhi, Delhi - 110001 
, INDIA

B80629868

6

10015414

09/07/2013 *

304,300,000.00

Citibank N.A

Jeevan Bharti Building, 4th Floor, 124 Connaught 
Circus, Connaught Place, New Delhi, Delhi - 110001 
, INDIA

B80633068

7

80010523

18/06/2013 *

300,000,000.00

INDIAN BANK

VILE PARLE BRANCH,325,GEETHANJALI BLD, 1ST FLOOR, 
NEHRU ROAD,VILE PARLE-EAST, MUMBAI, Maharashtra - 
400057, INDIA

B78414208

8

90056502

14/07/2007 *

45,000,000.00

Canara Bank

3-F, Kamla Nagar, Delhi, Delhi - 110007, INDIA

A19880798

9

90056294

14/07/2007 *

30,000,000.00

Canara Bank

3-F, Kamla Nagar, Delhi, Delhi - 110007, INDIA

A19881812

10

90045502

14/07/2007 *

10,000,000.00

Canara Bank

Kamla Nagar, Delhi, Delhi - 110007, INDIA

A19878875

* Date of charge modification

 

 

 

 

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.63.75

UK Pound

1

Rs.98.75

Euro

1

Rs.69.87

 

 

INFORMATION DETAILS

 

Information Gathered by :

DIP

 

 

Analysis Done by :

KAR

 

 

Report Prepared by :

SUJ

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

6

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

6

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

6

--PROFITABILITY 

1~10

5

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--RESERVES

1~10

5

--CREDIT LINES

1~10

5

--MARGINS

-5~5

--

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

YES

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

48

 

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

 

--

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.