MIRA INFORM REPORT
|
Report No. : |
336755 |
|
Report Date : |
12.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
SHRENIK INDUSTRIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Gat No. 355, A/P Majale, Kolhapur – 416109, Maharashtra |
|
Tel. No.: |
91-230-3022100 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
05.04.2010 |
|
|
|
|
Com. Reg. No.: |
11-135984 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.19.450 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29299PN2010PTC135984 |
|
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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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PAN No.: [Permanent Account No.] |
Not Available |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Importer of tower for wind turbine. |
|
|
|
|
No. of Employees
: |
500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Slow |
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|
|
Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. The company possesses moderate operational performance and it has
incurred huge losses from its operational activities. Rating further constrained on account of company’s moderate financial risk
profile marked by modest networth along with huge borrowings and leverage
balance sheet profile of the company. However, trade relations are reported as fair. Business is active.
Payments are reported to be slow. In view of operational losses, the company can be considered for
business dealings with some caution. |
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
|
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 PARTED BY
|
Name : |
Mr. Patil |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-230-3022100 |
|
Date : |
12.08.2015 |
LOCATIONS
|
Registered Office/ Factory : |
Gat No. 355, A/P Majale, Kolhapur – 416109, Maharashtra, India |
|
Tel. No.: |
91-230-3022100 |
|
Fax No.: |
91-230-3022124 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON: 17.12.2014
|
Name : |
Mr. Durairaj Xavier |
|
Designation : |
Additional Director |
|
Address : |
Old No, 110, New No. 12, AE-Block, 10th Main Road,
Annanagar, Chennai – 600040, Tamilnadu, India |
|
Date of Birth/Age : |
19.04.1948 |
|
Date of Appointment : |
30.05.2012 |
|
DIN No.: |
00514197 |
|
|
|
|
Name : |
Mr. Rajesh Xavier Durairaj |
|
Designation : |
Director |
|
Address : |
Old No, 40, New No. 09, S Block, 21st Street, Annanagar,
Chennai – 600040, Tamilnadu, India |
|
Date of Birth/Age : |
03.06.1981 |
|
Date of Appointment : |
24.09.2013 |
|
DIN No.: |
01774431 |
|
|
|
|
Name : |
Javier Ignacio Imaz Rubalcaba |
|
Designation : |
Director |
|
Address : |
Olaberia, Guipuzioa, Zugazarte 1 28391, Madrid |
|
Date of Birth/Age : |
17.07.1964 |
|
Date of Appointment : |
24.09.2013 |
|
DIN No.: |
03496668 |
|
|
|
|
Name : |
Juan Maria Riberas Mera |
|
Designation : |
Director |
|
Address : |
Prolongacion De Embajodores, 28053, Madrid |
|
Date of Birth/Age : |
06.10.1968 |
|
Date of Appointment : |
24.09.2013 |
|
DIN No.: |
02146671 |
|
|
|
|
Name : |
Mario Ruiz Escribano |
|
Designation : |
Director |
|
Address : |
C/ Ventura Rodriguze 014, Chalet 12, Boadil Del Monte 28660 |
|
Date of Birth/Age : |
14.01.1963 |
|
Date of Appointment : |
24.09.2013 |
|
DIN No.: |
03546498 |
KEY EXECUTIVES
|
Name : |
Mr. Patil |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 17.12.2014
|
Names of Shareholders |
|
No. of Shares |
|
Gestamp Powergear Windsteel Private Limited, India |
|
1987126 |
|
Durairaj Xavier |
|
1 |
|
|
|
|
|
Total |
|
1987127 |
Equity Share Break up (Percentage of Total Equity)
AS ON: 17.12.2014
|
Category |
|
Percentage |
|
Bodies corporate |
|
99.99 |
|
Directors or relatives of Directors |
|
0.01 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Importer of tower for wind turbine. |
|
|
|
|
Products : |
Tower for wind turbine |
|
|
|
|
Brand Names : |
Not Divulged |
|
|
|
|
Agencies Held : |
Not Divulged |
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|
|
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Exports : |
Not Divulged |
|
|
|
|
Imports : |
|
|
Products : |
MS Plates |
|
Countries : |
China |
|
|
|
|
Terms : |
|
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Selling : |
Cash and Credit |
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|
|
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Purchasing : |
Cash, L/C and Credit |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
500 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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|
Name : |
Price Waterhouse and Company Bangalore LLP Chartered Accountants |
|
Address : |
Muuttha Towers, Fifth Floor, Suit No.8, Airport Road, Yerwada, Pune –
411006, Maharashtra, India |
|
PAN No.: |
AADFP9359C |
|
|
|
|
Memberships : |
-- |
|
|
|
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Collaborators : |
--- |
|
|
|
|
Holding Company : |
Gestamp Powergear Windsteel Private Limited (w.e.f. 30.05.2012) CIN No.:
U74990TN2011PTC080844 |
|
|
|
|
Ultimate Holding
Company : |
Holding Gonvarri S.L |
|
|
|
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Intermediate
Holding Company : |
Gestamp Windsteel SL |
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|
|
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Enterprises over which
Key management personnel are able to exercise significant control : |
Powergear Limited |
|
|
|
|
Fellow subsidiary :
|
|
CAPITAL STRUCTURE
AS ON: 17.12.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,000,000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,987,127 |
Equity Shares |
Rs.10/- each |
Rs.19.871 Million |
|
|
|
|
|
AS ON: 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,000,000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1944964 |
Equity Shares |
Rs.10/- each |
Rs.19.450 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
19.450 |
15.664 |
9.000 |
|
(b) Reserves & Surplus |
98.188 |
112.140 |
(39.643) |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
159.933 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
117.638 |
287.737 |
(30.643) |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
268.867 |
226.017 |
322.903 |
|
(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 |
12.027 |
2.136 |
2.254 |
|
Total Non-current
Liabilities (3) |
280.894 |
228.153 |
325.157 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short term borrowings |
374.490 |
0.000 |
0.000 |
|
(b) Trade payables |
38.193 |
21.802 |
3.284 |
|
(c) Other current liabilities |
70.993 |
202.300 |
77.332 |
|
(d) Short-term provisions |
4.934 |
28.813 |
24.556 |
|
Total Current
Liabilities (4) |
488.610 |
252.915 |
105.172 |
|
|
|
|
|
|
TOTAL |
887.142 |
768.805 |
399.686 |
|
|
|
|
|
|
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
441.815 |
465.054 |
333.530 |
|
(ii) Intangible Assets |
0.274 |
0.005 |
0.076 |
|
(iii) Capital work-in-progress |
18.246 |
0.000 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
13.433 |
10.559 |
9.872 |
|
(e) Other Non-current assets |
5.208 |
26.059 |
1.916 |
|
Total Non-Current
Assets |
478.976 |
501.677 |
345.394 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
158.222 |
41.808 |
10.700 |
|
(c) Trade receivables |
206.289 |
0.000 |
42.506 |
|
(d) Cash and cash equivalents |
14.530 |
223.955 |
0.574 |
|
(e) Short-term loans and advances |
8.855 |
0.446 |
0.000 |
|
(f) Other current assets |
20.270 |
0.919 |
0.512 |
|
Total Current
Assets |
408.166 |
267.128 |
54.292 |
|
|
|
|
|
|
TOTAL |
887.142 |
768.805 |
399.686 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
260.528 |
0.865 |
NA |
|
|
Other Income |
13.389 |
1.381 |
NA |
|
|
TOTAL |
273.917 |
2.246 |
NA |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
212.535 |
12.682 |
|
|
|
Purchases of
Stock-in-Trade |
0.000 |
0.000 |
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(79.045) |
(14.746) |
|
|
|
Employees benefits
expense |
89.065 |
47.757 |
|
|
|
Other expenses |
129.530 |
47.056 |
|
|
|
TOTAL |
352.085 |
92.749 |
NA |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
(78.168) |
(90.503) |
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
57.967 |
9.536 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
(136.135) |
(100.039) |
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
75.731 |
56.064 |
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
(211.866) |
(156.103) |
18.362 |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
30.802 |
18.126 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
(211.866) |
(186.905) |
0.236 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S |
(211.866) |
(186.905) |
0.236 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
4.618 |
5.324 |
NIL |
|
|
TOTAL EARNINGS |
4.618 |
5.324 |
NIL |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials, Components
and Stores parts |
39.774 |
6.683 |
NA |
|
|
Capital Goods |
24.695 |
180.905 |
NA |
|
|
TOTAL IMPORTS |
64.469 |
187.588 |
NA |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
(115.82) |
(128.29) |
-- |
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
750.000 |
Expected Sales ( 2015-2016 ) : Rs.1250.000 Million
The above information has been parted by Mr. Patil.
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 from operating activities |
(521.579) |
62.297 |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(81.32) |
(21607.51) |
NA |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
(30.00) |
(10462.77) |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
-24.38 |
-20.30 |
4.59 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(1.80) |
(0.54) |
(0.60) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
5.47 |
0.79 |
(10.54) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.84 |
1.06 |
0.52 |
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 |
9.000 |
15.664 |
19.450 |
|
Reserves & Surplus |
(39.643) |
112.140 |
98.188 |
|
Share Application money
pending allotment |
0.000 |
159.933 |
0.000 |
|
Net worth |
(30.643) |
287.737 |
117.638 |
|
|
|
|
|
|
long-term borrowings |
322.903 |
226.017 |
268.867 |
|
Short term borrowings |
0.000 |
0.000 |
374.490 |
|
Total borrowings |
322.903 |
226.017 |
643.357 |
|
Debt/Equity ratio |
(10.538) |
0.785 |
5.469 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
0.865 |
260.528 |
|
|
30,018.844 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
0.865 |
260.528 |
|
Profit/Loss |
(186.905) |
(211.866) |
|
|
(21607.51%) |
(81.32%) |
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) |
Yes |
|
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 |
Yes |
|
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 |
--- |
|
33 |
Market information |
--- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Foreign currency term loan from financial institution |
268.867 |
226.017 |
|
Short-term
borrowings |
|
|
|
Term loans from related parties |
150.000 |
0.000 |
|
|
|
|
|
Total |
418.867 |
226.017 |
Note: No Charges Exist for Company
OVERVIEW OF THE
COMPANY
The company was established in 2010, it is engaged in the manufacturing of tubular type wind turbine towers up to 100 meter height.
During the previous year the shares of the company have been transferred from previous owners to Gestamp Powergear Windsteel Private Limited
FIXED ASSETS
Tangible Assets
- Land
- Building
- Machineries
- Air Conditioner
- Electrification
- Office Equipment
- Furniture and Fixture
- Computer and Printer
- Software
- Trolly Dumping
- Wind Mill
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.64.17 |
|
|
1 |
Rs.99.85 |
|
Euro |
1 |
Rs.70.36 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
27 |
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.