MIRA INFORM REPORT
|
Report No. : |
336447 |
|
Report Date : |
12.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
INDOWORTH INDIA
LIMITED |
|
|
|
|
Registered
Office : |
B - 130/1, MIDC Industrial Area, Butibori, Nagpur – 441108, Maharashtra |
|
Tel. No.: |
91-7104-265308 |
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|
|
|
Country : |
India |
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|
Financials (as
on) : |
31.03.2014 |
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|
|
Date of
Incorporation : |
13.01.1997 |
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|
|
|
Com. Reg. No.: |
11-105543 |
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|
|
Capital
Investment / Paid-up Capital : |
Rs.0.500 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U01122MH1997PLC105543 |
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|
|
IEC No.: |
Not Available |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
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PAN No.: [Permanent Account No.] |
AABCI0704R |
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|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer, Importers and Exporters of ECRU and Top Dyed Worsted, Polywool Yarns and Siro Yarns for high Quality Fashion, Daily Wear and Textile Goods. |
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|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (11) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject company was established in the year 1997. It has a moderate
track record. For the financial year 2014, the company has incurred huge accumulated
losses, which has eroded the networth position of the company. The rating is constrained because of company’s moderate financial risk
profile and weak liquidity profile. Business is active. Payments terms are slow. In view of limited business track record, the company can be
considered for business dealings on fully safe and secure trade terms and
conditions. |
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
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 DENIED BY
|
Name : |
Mr. Deshpande |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-7104-265308 |
|
Date : |
11.08.2015 |
LOCATIONS
|
Registered Office : |
B - 130/1, MIDC Industrial Area, Butibori, Nagpur – 441108, Maharashtra, India |
|
Tel. No.: |
91-7104-265308 / 265321 |
|
Fax No.: |
91-7104-265309 |
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E-Mail : |
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|
Website : |
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|
|
|
Raipur Branch : |
923,945, Urla Industrial Estate, Raipur – 492221, Chhattisgarh, India |
|
Tel. No.: |
91-771-2324271/75 |
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Fax No.: |
91-771-23235-257 |
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E-Mail : |
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|
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|
Branches : |
2-4, Jambul Wadi, First Floor, |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Lab Chandra Chakravorty |
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|
Designation : |
Whole-Time Director |
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|
Address : |
Guest House, Indoworth India Limited, Plot No.B-130, MIDC, Butibori, Nagpur - 441122, Maharashtra, India |
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Date of Birth/Age : |
03.06.1946 |
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Date of Appointment : |
01.07.2007 |
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DIN No.: |
01170814 |
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Other Directorship :
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Name : |
Mr. Ram Dutt Sharma |
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|
Designation : |
Director |
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|
Address : |
HQ Eastern Command Adm, Branch Fort William, Kolkata - 700021, West Bengal, India |
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Date of Birth/Age : |
28.08.1959 |
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Date of Appointment : |
28.09.2010 |
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DIN No.: |
03223586 |
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Other Directorship :
|
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||||||||||||||||||||||||||||||||||||
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Name : |
Mr. Manakkal Seetharaman Easwaran |
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|
Designation : |
Director |
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|
Address : |
Durga Nilay, 32/24 Chandi Ghosh Road, Kudghat, Kolkata - 700040, West Bengal, India |
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Date of Appointment : |
30.09.2014 |
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DIN No.: |
03224970 |
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Other Directorship :
|
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KEY EXECUTIVES
|
Name : |
Mr. Deshpande |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
SHAREHOLDERS FILE DETAILS ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
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 |
85.00 |
|
Other top fifty shareholders |
15.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Importers and Exporters of ECRU and Top Dyed Worsted, Polywool Yarns and Siro Yarns for high Quality Fashion, Daily Wear and Textile Goods. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
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
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management. |
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Bankers : |
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Facilities : |
(Rs.
In Million)
|
|
Auditors : |
|
|
Name : |
Singhi and Company Chartered Accountants |
|
Address : |
1B, Old Post Office, St 4th Floor R No. 31, Kolkata – 700001, West Bengal, India |
|
PAN No.: |
AASFS9578D |
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|
|
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Memberships : |
Not Available |
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|
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Collaborators : |
Not Available |
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|
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
60,000,000 |
Equity Shares |
Rs.10/- each |
Rs.600.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50,000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 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 |
0.500 |
0.500 |
0.500 |
|
(b) Reserves &
Surplus |
(1053.344) |
(1063.792) |
(1087.693) |
|
(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) |
(1052.844) |
(1063.292) |
(1087.193) |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
894.837 |
894.837 |
894.837 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
69.255 |
65.584 |
61.988 |
|
Total Non-current
Liabilities (3) |
964.092 |
960.421 |
956.825 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
27.101 |
26.493 |
12.436 |
|
(b) Trade payables |
2218.166 |
2127.674 |
2296.834 |
|
(c) Other current
liabilities |
300.820 |
338.502 |
445.115 |
|
(d) Short-term provisions |
11.535 |
11.985 |
11.771 |
|
Total Current Liabilities
(4) |
2557.622 |
2504.654 |
2766.156 |
|
|
|
|
|
|
TOTAL |
2468.870 |
2401.783 |
2635.788 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
136.748 |
138.748 |
136.783 |
|
(ii) Intangible Assets |
0.607 |
0.839 |
1.070 |
|
(iii) Capital
work-in-progress |
0.000 |
5.581 |
0.000 |
|
(iv) Intangible assets
under development |
3.528 |
0.049 |
0.000 |
|
(b) Non-current
Investments |
70.770 |
70.770 |
70.770 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current
assets |
94.304 |
94.304 |
90.241 |
|
Total Non-Current Assets |
305.957 |
310.291 |
298.864 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
391.402 |
448.797 |
623.968 |
|
(c) Trade receivables |
917.751 |
768.285 |
955.426 |
|
(d) Cash and cash
equivalents |
51.594 |
87.805 |
56.023 |
|
(e) Short-term loans and
advances |
798.434 |
777.287 |
696.699 |
|
(f) Other current assets |
3.732 |
9.318 |
4.808 |
|
Total Current Assets |
2162.913 |
2091.492 |
2336.924 |
|
|
|
|
|
|
TOTAL |
2468.870 |
2401.783 |
2635.788 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
1315.179 |
1630.715 |
1797.098 |
|
|
Other Income |
78.922 |
45.175 |
85.915 |
|
|
TOTAL |
1394.101 |
1675.890 |
1883.013 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
837.656 |
1110.741 |
1362.740 |
|
|
Purchases of
Stock-in-Trade |
0.000 |
0.000 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
60.437 |
12.661 |
(63.639) |
|
|
Employees benefits
expense |
111.839 |
107.076 |
93.198 |
|
|
Other expenses |
360.571 |
408.162 |
452.975 |
|
|
TOTAL |
1370.503 |
1638.640 |
1845.274 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
23.598 |
37.250 |
37.739 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
1.113 |
1.650 |
0.361 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX,
DEPRECIATION AND AMORTISATION |
22.485 |
35.600 |
37.378 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
12.037 |
11.699 |
11.064 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
10.448 |
23.901 |
26.314 |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
10.448 |
23.901 |
26.314 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
(1063.792) |
(1087.693) |
(1114.007) |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S |
(1053.344) |
(1063.792) |
(1087.693) |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
728.787 |
226.605 |
1304.508 |
|
|
TOTAL EARNINGS |
728.787 |
226.605 |
1304.508 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
487.862 |
666.940 |
1095.342 |
|
|
Components and Stores
parts |
18.844 |
28.909 |
33.267 |
|
|
Capital Goods |
3.097 |
3.599 |
1.130 |
|
|
TOTAL IMPORTS |
509.803 |
699.448 |
1129.739 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
209 |
478 |
526 |
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 |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
(22.854) |
51.652 |
58.085 |
|
Net cash flows from (used in) operating activities |
(23.913) |
50.181 |
59.095 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
0.79 |
1.47 |
1.46 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
1.79 |
2.28 |
2.10 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.44 |
1.03 |
1.03 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.01) |
(0.02) |
(0.02) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
(0.88) |
(0.87) |
(0.83) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.85 |
0.84 |
0.84 |
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 |
0.500 |
0.500 |
0.500 |
|
Reserves & Surplus |
(1087.693) |
(1063.792) |
(1053.344) |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
(1087.193) |
(1063.292) |
(1052.844) |
|
|
|
|
|
|
long-term borrowings |
894.837 |
894.837 |
894.837 |
|
Short term borrowings |
12.436 |
26.493 |
27.101 |
|
Total borrowings |
907.273 |
921.330 |
921.938 |
|
Debt/Equity ratio |
(0.835) |
(0.866) |
(0.876) |
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 |
1797.098 |
1630.715 |
1315.179 |
|
|
|
(9.258) |
(19.350) |
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 |
1797.098 |
1630.715 |
1315.179 |
|
Profit |
26.314 |
23.901 |
10.448 |
|
|
1.46% |
1.47% |
0.79% |
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 |
Yes |
|
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 |
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 |
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWING |
|
|
|
Fully convertible debentures others |
300.000 |
300.000 |
|
Intercorporate borrowings |
594.837 |
594.837 |
|
Total |
894.837 |
894.837 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
80014410 |
08/03/2004 |
300,000,000.00 |
UNIWORTH INTERNATIONAL LIMITED |
UNIWORTH CENTRE, 70A SHAKESPEARE SARANI, KOLKATA, |
- |
|
2 |
90237470 |
27/12/2001 |
120,000,000.00 |
CENTURIAN BANK LTD. |
345; SHRIMOHINI COMPLEX KINGSWAY, NAGPUR, Maharash |
- |
OPERATIONS AND MANAGEMENT
DISCUSSION AND ANALYSIS
The year continued to remain glum due to economic recession and crisis in European markets. As a result, there was a sharp drop in order flow. Turnover decreased to Rs.1394.100 Million as against previous year turnover of Rs.1675.900 Million.
Due to overall decrease in Turnover and increase in input costs the cash profit decreased marginally to Rs.23.598 Million as against Rs.37.250 Million in previous year. Overall performance of the textile industry in India continued to be under pressure due to increased cost of raw materials and other resources. Efforts are being continued to maximize capacity Utilised at optimum costs.
As there are accumulated losses of previous years, the company has not made provision for Income Tax. Also, as informed in the last year’s Report, the company had reversed certain entries in the books of accounts for the year ended 31st March 2010, consequent to which, lesser provision of depreciation and interest was required to be provided, and thus was a Net Profit of Rs.10.448 Million, both before and after tax, in comparison to a Net Profit of Rs.23.901 Million in the previous year. However, this has not significantly altered the huge accumulated loss carried forward in the Balance sheet.
It is again re-iterated that as on 31st March 2010, the Company had reverted back relevant entries in its books of accounts, concerning the ownership of assets of the Nagpur Unit together with all concomitant liabilities. However, the charge created on the erstwhile liabilities could not be satisfied in view of the relevant matter being sub-judice before appropriate Court at Kolkata and Nagpur, and necessary adjustments in the financial statements, if required, would have to be made only after final adjudication of concerned proceedings.
The application made by the company before the BIFR (Board for Industrial and Financial reconstruction) last year was duly registered by the Board, as Case No.24/2011, vide Order dated 13.04.2011, but the said reference has been abated by BIFR, which has been challenged by the Company by filling an Appeal and the appeal is pending before Appellate Authority of Industrial & Financial Reconstruction (AAIFR).
FUTURE PROSPECTS:
The business was not at all satisfactory during the financial year due to weak consumer sentiments arising out of sluggishness of world economy particularly in Europe.
Rise in coal prices, volatility in wool prices and diminishing value of the Indian rupee are some of the other factors pushing up the cost of production without matching revenue returns.
Clearly the road ahead is not smooth and the worst is yet to be over. However the company hopes to maintain its performance and make use of all possible business opportunities by strengthening it’s the marketing efforts and curtailment of costs in all spheres.
In view of the marginal operating profits being offset by the huge accumulated losses carried forward in the Balance Sheet, the Directors do not recommend payment of any Dividend for the financial year ended 31st March, 2014.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON DESIGNATED
PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other official
proceeding for making any prohibited payments or other improper payments to
government officials for engaging in prohibited transactions or with designated
parties.
3] Asset Declaration :
No 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.64.17 |
|
|
1 |
Rs.99.85 |
|
Euro |
1 |
Rs.70.36 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
TRS |
|
|
|
|
Report Prepared
by : |
SNT / PNM |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
1 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
1 |
|
--PROFITABILITY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
1 |
|
--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 |
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 |
|
11 |
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.