MIRA INFORM REPORT
|
Report No. : |
337386 |
|
Report Date : |
19.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
PRAGATI CHEMICALS LIMITED |
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|
|
|
Registered
Office : |
Plot No. A-8, Marol Industrial Estate of MIDC, Cross Road B, Street
No.5, Andheri (East), Mumbai - 400093, Maharashtra |
|
Tel. No.: |
91-22-28207897 |
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|
|
|
Country : |
India |
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|
|
|
Financials (as
on) : |
31.03.2014 |
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|
|
|
Date of Incorporation
: |
18.04.1979 |
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|
|
|
Com. Reg. No.: |
11-031289 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 3.600 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24110MH1979PLC031289 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMP15230F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACP4055B |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer, Exporter and Importer of Synthetic Resins. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
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|
|
|
Litigation : |
Not Available |
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|
|
|
Comments : |
Subject is an established company incorporated during the year 1979
having a good track record. Available financial indicates company sound financial risk profile
marked by healthy reserves position with zero borrowings and favorable gap
between trade payable and trade receivable. Further, the rating also takes into consideration good profitability
margin of the company. Trade relations are reported as fair. Business is active. Payment
terms are reported to be regular and as per commitment. In view of long track record and sound financial base, the company can
be considered normal for 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 DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2013.
INFORMATION DENIED
Management Non Co-operative (91-22-61987000)
LOCATIONS
|
Registered Office : |
Plot No. A-8, Marol Industrial Estate of MIDC, Cross Road B, Street
No.5, Andheri (East), Mumbai - 400093, Maharashtra, India |
|
Tel. No.: |
91-22-28207897 / 61987000 |
|
Fax No.: |
91-22-61987099 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
Plot No. 3605, GIDC Estate, Ankleshwar – 393002, Gujarat, India |
|
Tel. No.: |
91-2646-220440/ 223029 |
|
Fax No.: |
91-2646-2230559 |
DIRECTORS
AS ON 29.07.2014
|
Name : |
Mr. Bharat Bhogilal Chovatia |
|
Designation : |
Director |
|
Address : |
18, Sanjog, Pheroz Shah Street, Santacruz (West), Mumbai – 400054,
Maharashtra, India |
|
Date of Birth/Age : |
19.09.1964 |
|
Date of Appointment : |
30.03.1983 |
|
DIN No.: |
00059326 |
|
|
|
|
Name : |
Mr. Rupen Ashwin Choksi |
|
Designation : |
Director |
|
Address : |
11A, Jeevan Asha, 60A Peddar Road, Mumbai – 400026, Maharashtra, India |
|
Date of Birth/Age : |
02.08.1976 |
|
Date of Appointment : |
04.05.2006 |
|
DIN No.: |
00009252 |
|
|
|
|
Name : |
Mr. Jalaj Ashwin Dani |
|
Designation : |
Director |
|
Address : |
Home Villa, 48, Krishna Sanghi Path, Mumbai – 400007, Maharashtra,
India |
|
Date of Birth/Age : |
20.10.1969 |
|
Date of Appointment : |
04.09.2013 |
|
DIN No.: |
00019080 |
|
|
|
|
Name : |
Mr. Amar Arvind Vakil |
|
Designation : |
Director |
|
Address : |
Geetanjali, 9 N Camadia Road, Mumbai – 400026, Maharashtra, India |
|
Date of Birth/Age : |
11.08.1952 |
|
Date of Appointment : |
18.04.1979 |
MAJOR SHAREHOLDERS
AS ON 29.07.2014
SHAREHOLDING DETAILS FILE ATTACHED
AS ON 29.07.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of
Holding |
|
|
|
|
Bodies corporate |
62.22 |
|
Directors or relatives of Directors |
37.78 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of Synthetic Resins. |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
·
HDFC Bank Limited, HDFC Bank House Senapati
Bapat Marg, Lower Parel (West), Mumbai - 400013, Maharashtra, India |
|
Auditors : |
|
|
Name : |
Shah and Associates Chartered Accountants |
|
Address : |
Maker Bhavan2, Maker Lines, Mumbai – 400020, Maharashtra, India |
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Tel. No.: |
91-22-26734304 |
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Fax No.: |
91-22-26734305 |
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E-Mail : |
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PAN No.: |
AAMFS1965N |
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|
|
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Memberships : |
Not Divulged |
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Collaborators : |
Not Divulged |
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|
|
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Associates/Subsidiaries : |
-- |
CAPITAL STRUCTURE
AS ON 29.07.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs. 10.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
360000 |
Equity Shares |
Rs.10/- each |
Rs. 3.600
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 |
3.600 |
3.600 |
3.600 |
|
(b) Reserves & Surplus |
102.292 |
95.947 |
91.922 |
|
(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) |
105.892 |
99.547 |
95.522 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
0.000 |
0.000 |
0.105 |
|
(b) Deferred tax liabilities (Net) |
0.492 |
0.703 |
0.807 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.513 |
0.567 |
0.363 |
|
Total Non-current
Liabilities (3) |
1.005 |
1.270 |
1.275 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.105 |
0.120 |
|
(b) Trade
payables |
18.911 |
17.182 |
13.298 |
|
(c) Other
current liabilities |
3.403 |
4.068 |
2.027 |
|
(d) Short-term
provisions |
4.730 |
4.306 |
5.752 |
|
Total Current
Liabilities (4) |
27.044 |
25.661 |
21.197 |
|
|
|
|
|
|
TOTAL |
133.941 |
126.478 |
117.994 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
6.014 |
6.676 |
6.711 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.007 |
0.007 |
0.007 |
|
(c) Deferred tax
assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1.354 |
1.692 |
1.352 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
7.375 |
8.375 |
8.070 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
21.840 |
29.057 |
20.682 |
|
(c) Trade
receivables |
47.228 |
44.139 |
42.410 |
|
(d) Cash
and cash equivalents |
52.922 |
43.378 |
44.927 |
|
(e) Short-term
loans and advances |
4.481 |
1.486 |
1.847 |
|
(f) Other
current assets |
0.095 |
0.043 |
0.058 |
|
Total
Current Assets |
126.566 |
118.103 |
109.924 |
|
|
|
|
|
|
TOTAL |
133.941 |
126.478 |
117.994 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
237.185 |
223.741 |
208.610 |
|
|
|
Other Income |
3.800 |
2.813 |
2.213 |
|
|
|
TOTAL (A) |
240.985 |
226.554 |
210.823 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
186.231 |
187.188 |
167.176 |
|
|
|
Changes in inventories of finished goods and work-in-progress |
5.452 |
(9.811) |
(2.591) |
|
|
|
Employee benefit expenses |
9.832 |
9.481 |
8.602 |
|
|
|
Other expenses |
24.344 |
27.613 |
24.002 |
|
|
|
TOTAL (B) |
225.859 |
214.471 |
197.189 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
15.126 |
12.083 |
13.634 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.001 |
0.064 |
0.079 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
15.125 |
12.019 |
13.555 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
0.744 |
0.925 |
0.730 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
14.381 |
11.094 |
12.825 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
3.823 |
2.857 |
3.483 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
10.558 |
8.237 |
9.342 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
73.036 |
69.861 |
65.703 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
1.100 |
0.850 |
1.000 |
|
|
|
Dividend |
3.600 |
3.600 |
3.600 |
|
|
|
Tax on Dividend |
0.612 |
0.612 |
0.584 |
|
|
BALANCE CARRIED
TO THE B/S |
78.282 |
73.036 |
69.861 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB value of export |
2.907 |
3.243 |
0.943 |
|
|
TOTAL EARNINGS |
2.907 |
3.243 |
0.943 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
41.866 |
27.554 |
24.036 |
|
|
TOTAL IMPORTS |
41.866 |
27.554 |
24.036 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
29.33 |
22.88 |
25.95 |
|
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 flow from (used in) operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin PAT / Sales |
(%) |
4.45 |
3.68 |
4.48 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
6.38 |
5.40 |
6.54 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets) |
(%) |
10.74 |
8.77 |
10.87 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.14 |
0.11 |
0.13 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.68 |
4.60 |
5.19 |
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 |
3.600 |
3.600 |
3.600 |
|
Reserves & Surplus |
91.922 |
95.947 |
102.292 |
|
Net
worth |
95.522 |
99.547 |
105.892 |
|
|
|
|
|
|
long-term borrowings |
0.105 |
0.000 |
0.000 |
|
Short term borrowings |
0.120 |
0.105 |
0.000 |
|
Total
borrowings |
0.225 |
0.105 |
0.000 |
|
Debt/Equity
ratio |
0.002 |
0.001 |
0.000 |
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 |
208.610 |
223.741 |
237.185 |
|
|
|
7.253 |
6.009 |
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
|
208.610 |
223.741 |
237.185 |
|
Profit |
9.342 |
8.237 |
10.558 |
|
|
4.48% |
3.68% |
4.45% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
No |
|
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 |
CORPORATE INFORMATION
Subject is reputed manufacturer of Synthetic Resin Catering to a wide range of industries today such as Adhesive, High Performance coatings, Printing Inks, Construction and Cosmetics. Subject commenced its operations in 1979 for manufacturing Epoxy Resins, Ketonic Resins, Aminos Resins and Specialty Resins for coatings. Subjects manufacturing plant is located at GIDC, Ankleshwar in Gujarat. Subject’s strength lies in supplying consistent and quality products, product development, strong distribution network consisting of sales offices and branches across the country and also deals through a few major distributors across different regions.
UNSECURED LOANS:
|
Particulars |
31.03.2014 Rs. In Million |
31.03.2013 Rs. In Million |
|
Long Term Borrowings |
|
|
|
Fixed deposit from public (Fixed deposits carries interest rate @9.5%
to 11.5% p.a. repayable on scheduled dates unless otherwise demanded.) |
0.000 |
0.105 |
|
|
|
|
|
Total |
0.000 |
0.105 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10408253 |
26/05/2014 * |
12,500,000.00 |
HDFC Bank Limited |
HDFC Bank House Senapati Bapat Marg, Lower Parel (West), Mumbai - 400013, Maharashtra, India |
C09301268 |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixture
·
Office Equipment
·
Computer
·
Vehicles
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.65.22 |
|
|
1 |
Rs.102.23 |
|
Euro |
1 |
Rs.72.39 |
INFORMATION DETAILS
|
Information Gathered
by : |
MNJ |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
-- |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
54 |
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.