MIRA
INFORM REPORT
|
Report No. : |
338541 |
|
Report Date : |
27.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
SYMPHONY LIMITED (w.e.f. 11.03.2010) |
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|
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Formerly Known
As : |
SYMPHONY COMFORT SYSTEMS LIMITED |
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Registered
Office : |
Saumya Bakeri, Navrangpura, Ahmedabad – 380014, |
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Tel. No.: |
91-079-26424430 |
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Country : |
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Financials (as
on) : |
30.06.2015 |
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Date of Incorporation
: |
05.02.1988 |
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Com. Reg. No.: |
04-010331 |
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Capital
Investment / Paid-up Capital : |
Rs.70.000 Million |
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CIN No.: [Company Identification
No.] |
L32201GJ1988PLC010331 |
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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 : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Manufacturer and Exporter of Home Appliances. |
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No. of Employees
: |
450 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (64) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an old and established company incorporated during the year
1988 having a good track record. Available financial indicates company strong financial risk profile marked
by healthy net worth position with zero debt and decent profitability of the
company. Promoters are reported to be well experienced and respectable
businessman. Share price are quoted high on stock exchange (Face value Rs. 2 with
share price Rs. 1891). Trade relations are reported as fair. Business is active. Payment
terms are reported to be regular and as per commitment. The company can be considered good for normal business dealings at
usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
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. Harshal Patel |
|
Designation : |
Accounts Manager |
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Contact No.: |
91-79-26424430 |
|
Date : |
25.08.2015 |
LOCATIONS
|
Registered Office : |
Saumya Bakeri, Navrangpura, Ahmedabad – 380014, Gujarat, India |
|
Tel. No.: |
91-79-26424430 |
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Fax No.: |
91-79-26425930 |
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E-Mail : |
bbhadresh.mehta@symphonylimited.com |
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Website : |
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|
Location : |
Owned |
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Factory 1 : |
703/704, Sanand Kadi Highway, Village Thol, Kadi, District Mehsana - 382728, Gujarat, India |
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Tel. No.: |
91-2764-274342 |
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Factory 2 : |
SEZ Unit Plot No. 177, 178, 201 and 202, Surat Special Economic Zone Sachin, District Surat - 394230, Gujarat, India |
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Tel. No.: |
91-261-2397038 |
DIRECTORS
As on 30.06.2014
|
Name : |
Mr. Acha Anil l Bakeri |
|
Designation : |
Chairman and Managing Director |
|
Address : |
415, Opposite Nehru Foundation Bodakdev, Ahmedabad – 380054, Gujarat,
India |
|
Date of Birth/Age : |
52 Years |
|
Qualification : |
Architect, MBA |
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Date of Appointment : |
01.12.2012 |
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DIN No.: |
00397573 |
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Name : |
Mr. Nrupesh Chandravadan Shah |
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Designation : |
Executive Director |
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Address : |
26, Prakurtikunj Society, Near Manekbag Ambawadi, Ahmedabad – 380015,
Gujarat, India |
|
Date of Birth/Age : |
47 Years |
|
Qualification : |
B.Com., FCA and CS |
|
Date of Appointment : |
30.11.2011 |
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DIN No.: |
00397701 |
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Name : |
Mr. Dipak Kamlakar Palkar |
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Designation : |
Director |
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Address : |
22 A, Saujanya Society, Opposite Bhavan’s School, Makarpura Road, Vadodara
– 390009, Gujarat, India |
|
Date of Birth/Age : |
59 Years |
|
Qualification : |
B.Com., DTP and DBM |
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Date of Appointment : |
21.12.2010 |
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DIN No.: |
00475995 |
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Name : |
Mr. Himanshu Harshadbhai Shah |
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Designation : |
Director |
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Address : |
9, Arun Society, Anandnagar, Paldi, Ahmedabad – 380007, Gujarat, India
|
|
Date of Birth/Age : |
50 Years |
|
Qualification : |
B.Com. and MBA (Marketing) |
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Date of Appointment : |
31.12.2009 |
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DIN No.: |
02644454 |
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|
Name : |
Satyen Kothari |
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Designation : |
Independent Director |
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Name : |
Jonaki Bakeri |
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Designation : |
Non-Executive Director |
KEY EXECUTIVES
|
Name : |
Mr. Navin Nair |
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Designation : |
Export Department |
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Name : |
Mr. Chandrakant Gandhi |
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Designation : |
Company Secretary |
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Address : |
16B, Swagat Society, Ghatlodia, Ahmedabad – 380061, Gujarat, India |
|
Date of Birth/Age : |
56 Years |
|
Qualification : |
M.Com., LLB, FCS |
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Date of Appointment : |
13.02.2006 |
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PAN No.: |
AAWPG3430A |
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MANAGEMENT TEAM - INDIA |
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|
Name : |
Mr. Vijay R. Joshi |
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Designation : |
Vice President-Operations |
|
Date of Birth/Age : |
49 Years |
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Qualification : |
BE (Mech), Diploma in Business Management |
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|
Name : |
Mr. Pallab Bhattacharya |
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Designation : |
Vice President-Quality and Business Excellence and Customer Care |
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Date of Birth/Age : |
52 Years |
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Qualification : |
BE (Elect.), PG Diploma in Statistical Quality Control and Operations, Research and Diploma in Materials Management |
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|
Name : |
Mr. Bhadresh Mehta |
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Designation : |
Vice President-Finance and Accounts |
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Date of Birth/Age : |
52 Years |
|
Qualification : |
B.Com., ACA, ACS, AICWA and DISA |
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|
Name : |
Mr. Ramendra Sahai |
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Designation : |
Vice President – Industrial and Commercial Air Cooling |
|
Date of Birth/Age : |
45 Years |
|
Qualification : |
BE (Mechanical), MBA (Marketing) |
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|
Name : |
Mr. Jayesh Gupta |
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Designation : |
Senior General Manager-Sales |
|
Date of Birth/Age : |
50 Years |
|
Qualification : |
B.Com. |
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|
|
Name : |
Mr. Rajesh Mishra |
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Designation : |
Senior General Manager-Marketing-Domestic and International Markets |
|
Date of Birth/Age : |
41 Years |
|
Qualification : |
BE (Mechanical) |
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|
|
|
Name : |
Mr. Madhu Mohan |
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Designation : |
Senior General Manager-International Markets |
|
Date of Birth/Age : |
44 Years |
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Qualification : |
BE (Mech.), MBA (International Business) |
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|
Name : |
Mr. Falgun Shah |
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Designation : |
Chief Innovation Officer |
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Qualification : |
BE (Mech), M. Tech, and MBA (Finance) |
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MANAGEMENT
TEAM–MEXICO |
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|
Name : |
Mr. Juan Bendeck |
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Designation : |
General Director (CEO) |
|
Date of Birth/Age : |
46 Years |
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Qualification : |
BS Industrial Engineering, MBA |
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|
Name : |
Mr. Jaime Enriquez |
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Designation : |
Finance and Administration Director |
|
Date of Birth/Age : |
58 Years |
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Qualification : |
CPA and DBMS Degree |
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|
Name : |
Ms. Nelda O. Jauregui |
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Designation : |
Human Resource Manager |
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Qualification : |
BA, MBA |
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|
Name : |
Mr. Javier Reza |
|
Designation : |
Sales and Marketing Director |
|
Date of Birth/Age : |
41 Years |
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Qualification : |
Associate Degree in Business |
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|
|
Name : |
Mr. Jose Carmen Contreras |
|
Designation : |
Supply Procurement Director |
|
Date of Birth/Age : |
55 Years |
|
Qualification : |
BS Industrial Engineering |
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|
Name : |
Mr. Alvaro Trevino |
|
Designation : |
Engineering Manager |
|
Date of Birth/Age : |
33 Years |
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Qualification : |
BS in Mechanical and Administrative Engineering, Master in Material Sciences |
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|
Name : |
Mr. Alejandro de la Cerda |
|
Designation : |
Operations Manager |
|
Date of Birth/Age : |
30 Years |
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Qualification : |
BS in Mechanical and Administrative Engineering, MBA |
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MANAGEMENT TEAM–
USA |
|
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|
Name : |
Mr. Bill Hobson |
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Designation : |
Vice President |
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|
Name : |
Mr. Jaime Enriquez |
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Designation : |
Finance and Administration Director |
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|
Name : |
Mr. Iram Galvan |
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Designation : |
Head – Operations |
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Name : |
Dianna Olivas |
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Designation : |
Head – Sales |
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GLOBAL TEAM – SALES |
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Name : |
Mr. Vladislav Silferskiy |
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Designation : |
Country Manager |
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Name : |
Mr. Farooq Khan |
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Designation : |
Country Manager |
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|
Name : |
Mr. Khaled Nabil |
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Designation : |
Country Manager |
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|
Name : |
Mr. Partha Kumar Das |
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Designation : |
Sales Manager |
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|
Name : |
Ms. Celia Guerrero |
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Designation : |
Sales Manager |
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|
Name : |
Mr. Hector Connor |
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Designation : |
Sales Manager |
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|
Name : |
Mr. Antonio Carlos Vasconcelos |
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Designation : |
Sales Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.06.2015
|
Category of Shareholders |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
18412910 |
52.64 |
|
|
6241600 |
17.84 |
|
|
24654510 |
70.48 |
|
|
|
|
|
|
1579360 |
4.52 |
|
|
1579360 |
4.52 |
|
Total shareholding of Promoter and Promoter Group (A) |
26233870 |
75.00 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
732486 |
2.09 |
|
|
14671 |
0.04 |
|
|
1962772 |
5.61 |
|
|
587445 |
1.68 |
|
|
587445 |
1.68 |
|
|
3297374 |
9.43 |
|
|
|
|
|
|
1821928 |
5.21 |
|
|
|
|
|
|
2684977 |
7.68 |
|
|
327313 |
0.94 |
|
|
613038 |
1.75 |
|
|
243199 |
0.70 |
|
|
180 |
0.00 |
|
|
82688 |
0.24 |
|
|
286971 |
0.82 |
|
|
5447256 |
15.57 |
|
Total Public shareholding (B) |
8744630 |
25.00 |
|
Total (A)+(B) |
34978500 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts
have been issued |
|
|
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
34978500 |
0.00 |
(1)
Indian
Individuals
/ Hindu Undivided Family
Others
Shareholding of
securities (including shares, warrants, convertible securities) of persons
belonging to the category Promoter and Promoter Group
|
No. |
Name of the
Shareholder |
Details of Shares
held |
Total shares
(including underlying shares assuming full conversion of warrants and
convertible securities) as a % of diluted share capital |
|
|
No. of Shares held |
As a % of grand
total (A)+(B)+(C) |
|
||
|
1 |
Achal Anil Bakeri |
1,46,31,800 |
41.83 |
41.83 |
|
2 |
Oras Investments Private Limited |
32,21,800 |
9.21 |
9.21 |
|
3 |
Paratam Investments Private Limited |
30,19,800 |
8.63 |
8.63 |
|
4 |
Jonaki Achal Bakeri |
15,79,360 |
4.52 |
4.52 |
|
5 |
Hirva Achal Bakeri |
15,79,360 |
4.52 |
4.52 |
|
6 |
Achal Anil Bakeri Huf |
12,00,000 |
3.43 |
3.43 |
|
7 |
Pavan Bakeri |
6,02,000 |
1.72 |
1.72 |
|
8 |
Rupa Achal Bakeri |
3,89,750 |
1.11 |
1.11 |
|
9 |
Hansa Bakeri |
10,000 |
0.03 |
0.03 |
|
|
Total |
2,62,33,870 |
75.00 |
75.00 |
Shareholding of
securities (including shares, warrants, convertible securities) of persons
belonging to the category Public and holding more than 1% of the total number
of shares
|
No. |
Name of the
Shareholder |
No. of Shares held |
Shares as % of
Total No. of Shares |
Total shares
(including underlying shares assuming full conversion of warrants and
convertible securities) as a % of diluted share capital |
|
|
1 |
Matthews India Fund |
1126560 |
3.22 |
3.22 |
|
|
2 |
Rowenta Networks Private Limited |
998800 |
2.86 |
2.86 |
|
|
3 |
Axis Mutual Fund Trustee Limited A/C Axis Mutual Fund A/C Axis Long Term Equity Fund |
398171 |
1.14 |
1.14 |
|
|
|
Total |
2523531 |
7.21 |
7.21 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Home Appliances. |
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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 : |
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Products : |
Home appliance |
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Countries : |
·
European countries ·
USA ·
UK ·
Srilanka ·
Asian countries ·
African countries ·
Middle east |
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Imports : |
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Products : |
Raw Material |
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Countries : |
·
USA ·
China |
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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 : |
450 (Approximately) |
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Bankers : |
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Auditors : |
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|
Name : |
Shah and Dalal Chartered Accountant |
|
Address : |
B/101, 2nd Floor, Neelam Aparments, Hirbaug Crossing,
Ambawadi, Ahmedabad – 380006, Gujarat, India |
|
Tel No.: |
91-79-26568896 |
|
Fax No.: |
91-79-26560177 |
|
Email : |
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Memberships : |
-- |
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Collaborators : |
-- |
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Subsidiaries (As on 30.06.2014) : |
· Symphony Aircoolers Inc, USA · Sylvan Holdings Pte. Limited, Singapore · IMPCO S DE RL DE CV, Mexico ·
Symphony USA Inc., USA (known as Impco
Aircooler Inc, Prior to 12-04-2012) |
|
|
|
|
Enterprise in which
Director have significant
influence (As on 30.06.2014) : |
· Oras Investments Private Limited · Paratam Investments Private Limited · Scarlet Living Private Limited |
CAPITAL STRUCTURE
As on 30.06.2015
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital : Rs. 70.000
Million
As on 30.06.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
75000000 |
Equity Shares |
Rs.2/- each |
Rs.150.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
34978500 |
Equity Shares |
Rs.2/- each |
Rs.69.957
Millions |
|
|
|
|
|
The Company has only one class of shares referred to as equity shares having a par value of H2/-, rank pari passu in all respects including voting rights and entitlement to dividend.
The Company declares and pays dividends in Indian rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting.
During the year ended June 30, 2014, the amount of per share dividend recognized as distributions to equity shareholders was Rs.13/- (Previous year Rs.6.50), including interim dividend of Rs.2/- per equity share paid during the year. The total dividend appropriation for the year ended June 30, 2014 amounted to Rs.5,32.000/- Million including dividend distribution tax of Rs.77.300 Million.
In the event of liquidation of the Company, the holders of equity shares will be entitled to receive assets of the Company remaining after settlement of all liabilities. The distribution will be in proportion to the number of equity shares held by the shareholders.
The details of shareholder holding more than 5% shares as at June 30, 2014 is set out below :
|
Names of the
shareholder |
No. of shares |
% held |
|
Mr. Achal A. Bakeri |
14631800 |
41.83% |
|
Oras Investments Private Limited |
3221800 |
9.21% |
|
Paratam Investments Private Limited |
3019800 |
8.63% |
The reconciliation of
the number of shares outstanding as at June 30, 2014 is set out below:
|
Particulars |
30.06.2014 |
|
Number of shares at the beginning |
34978500 |
|
Add: Shares issued during the year |
-- |
|
Number of shares at the end |
34978500 |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
30.06.2015 |
30.06.2014 |
30.06.2013 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
70.000 |
69.957 |
69.957 |
|
(b) Reserves & Surplus |
2831.900 |
2257.414 |
1800.713 |
|
(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) |
2901.900 |
2327.371 |
1870.670 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
18.600 |
5.292 |
4.443 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
1.400 |
2.135 |
2.133 |
|
Total Non-current Liabilities (3) |
20.000 |
7.427 |
6.576 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
330.000 |
208.117 |
148.046 |
|
(c) Other current
liabilities |
101.200 |
159.385 |
109.521 |
|
(d) Short-term provisions |
489.100 |
529.514 |
335.716 |
|
Total Current Liabilities (4) |
920.300 |
897.016 |
593.283 |
|
|
|
|
|
|
TOTAL |
3842.200 |
3231.814 |
2470.529 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
594.200 |
311.168 |
292.453 |
|
(ii) Intangible Assets |
0.000 |
1.794 |
0.538 |
|
(iii) Capital
work-in-progress |
0.000 |
82.163 |
35.975 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1546.800 |
1618.720 |
318.387 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
12.000 |
26.854 |
15.367 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.970 |
|
Total Non-Current Assets |
2153.000 |
2040.699 |
663.690 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
1096.700 |
576.298 |
901.048 |
|
(b) Inventories |
245.500 |
216.437 |
181.928 |
|
(c) Trade receivables |
66.000 |
98.334 |
51.640 |
|
(d) Cash and cash
equivalents |
69.300 |
35.223 |
432.324 |
|
(e) Short-term loans and
advances |
132.800 |
238.246 |
201.867 |
|
(f) Other current assets |
78.900 |
26.577 |
38.032 |
|
Total Current Assets |
1689.200 |
1191.115 |
1806.839 |
|
|
|
|
|
|
TOTAL |
3842.200 |
3231.814 |
2470.529 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
30.06.2015 |
30.06.2014 |
30.06.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
5153.100 |
4515.021 |
3087.086 |
|
|
|
Other Income |
303.500 |
148.697 |
164.138 |
|
|
|
TOTAL (A) |
5456.600 |
4663.718 |
3251.224 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
246.000 |
254.697 |
156.324 |
|
|
|
Purchases of Stock-in-Trade |
1981.100 |
1700.011 |
1278.725 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(55.200) |
(16.077) |
(62.888) |
|
|
|
Employees benefits expense |
303.300 |
255.499 |
210.313 |
|
|
|
Selling and Distribution expense |
1121.200 |
0.000 |
0.000 |
|
|
|
Other expenses |
215.800 |
1101.834 |
730.262 |
|
|
|
TOTAL (B) |
3812.200 |
3295.964 |
2312.736 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1644.400 |
1367.754 |
938.488 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
5.700 |
0.537 |
3.199 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1638.700 |
1367.217 |
935.289 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
21.300 |
11.467 |
13.053 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1617.400 |
1355.750 |
922.236 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
453.200 |
367.049 |
295.398 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1164.200 |
988.701 |
626.838 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1747.524 |
1290.823 |
1029.985 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
|
0.000 |
100.000 |
|
|
|
Proposed Dividend on Equity Shares |
|
384.764 |
227.360 |
|
|
|
Tax on Proposed Dividend |
|
65.390 |
38.640 |
|
|
|
Interim Dividend on Equity Shares |
|
69.957 |
0.000 |
|
|
|
Tax on Interim Dividend |
|
11.889 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
|
1747.524 |
1290.823 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
F.O.B. Value of Exports |
|
556.751 |
343.023 |
|
|
|
Interest Income |
|
10.097 |
13.374 |
|
|
|
Other Income |
|
10.635 |
9.338 |
|
|
TOTAL EARNINGS |
|
577.483 |
365.735 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
133.327 |
66.364 |
|
|
|
Capital Goods |
|
23.020 |
3.934 |
|
|
TOTAL IMPORTS |
NA |
156.347 |
70.298 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
33.28 |
28.27 |
17.92 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
30.06.2015 |
30.06.2014 |
30.06.2013 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
1200.613 |
833.308 |
|
Net Cash Flow from Operating Activities |
NA |
820.522 |
599.856 |
KEY
RATIOS
|
PARTICULARS |
|
30.06.2015 |
30.06.2014 |
30.06.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
22.59 |
21.90 |
20.31 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
31.91 |
30.29 |
30.40 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
70.46 |
88.56 |
43.58 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.56 |
0.58 |
0.49 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.84 |
1.33 |
3.05 |
STOCK
PRICES
|
Face Value |
Rs.2.00 |
|
Market Value |
Rs.1891.00 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
30.06.2013 |
30.06.2014 |
30.06.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
69.957 |
69.957 |
70.000 |
|
Reserves & Surplus |
1800.713 |
2257.414 |
2831.900 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
1870.670 |
2327.371 |
2901.900 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
30.06.2013 |
30.06.2014 |
30.06.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
3087.086 |
4515.021 |
5153.100 |
|
|
|
46.255 |
14.132 |
NET PROFIT MARGIN
|
Net
Profit Margin |
30.06.2013 |
30.06.2014 |
30.06.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
3087.086 |
4515.021 |
5153.100 |
|
Profit |
626.838 |
988.701 |
1164.200 |
|
|
20.31% |
21.90% |
22.59% |
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 |
|
|
19] |
Major customers |
|
|
20] |
Banking Details |
Yes |
|
21] |
Banking facility details |
No |
|
22] |
Conduct of the banking account |
-- |
|
23] |
Financials, if provided |
Yes |
|
24] |
Capital in the business |
Yes |
|
25] |
Last accounts filed at ROC, if applicable |
Yes |
|
26] |
Turnover of firm for last three years |
Yes |
|
27] |
Reasons for variation <> 20% |
-- |
|
28] |
Estimation for coming financial year |
No |
|
29] |
Profitability for last three years |
Yes |
|
30] |
Major shareholders, if available |
Yes |
|
31] |
External Agency Rating, if available |
No |
|
32] |
Litigations that the firm/promoter
involved in |
-- |
|
33] |
Market information |
-- |
|
34] |
Payments terms |
Yes |
|
35] |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10585512 |
22/07/2015 |
200,000.00 |
CORPORATION BANK |
IFB, Rangolee Complex, 1st Floor,, Ashram Road, Ellisbridge,,
Ahmedabad, Gujarat - 380006, INDIA |
C61462552 |
|
2 |
10554484 |
14/02/2015 |
74,330.00 |
CORPORATION BANK |
Rangolee Complex, Ashram Road,, Ellisbridge,, Ahmedabad, Gujarat -
380006, INDIA |
C46361713 |
|
3 |
10554486 |
14/02/2015 |
222,970.00 |
CORPORATION BANK |
Rangolee Complex, Ashram Road,, Ellisbridge,, Ahmedabad, Gujarat -
380006, INDIA |
C46362760 |
* Date of charge modification
CONTINGENT
LIABILITIES:
(Rs. in million)
|
PARTICULARS |
30.06.2014 |
|
a) Claims against the Company not acknowledged as debt. |
1.334 |
|
b) Demand on account of sales tax assessment raised against the Company for the various years but the same is not acknowledged as debt hence, not provided for. Appeals are pending |
0.086 |
|
c) Income Tax matters not acknowledged as debts |
3.795 |
|
d) Demand under disputed central excise matter, Appeals are being filed. |
13.210 |
|
e) Estimated amount of contracts remaining to be executed on capital account and not provided for |
29.585 |
FIXED ASSETS
· Buildings
· Plant and Machinery
· Furniture and Fixtures
· Vehicles Office
· Equipments Computers
Press Release
SYMPHONY ACQUIRES 100% EQUITY IN MUNTERS KERUILAI
Symphony has signed an equity transfer agreement with shareholders of Munters Keruilai Air Treatment Equipment (Guangdong) Co. (MKE), China, to acquire 100 percent of the equity share capital of MKE.
Symphony Limited has informed BSE regarding "The acquisition of 100% equity in Munters Keruilai Air Treatment Equipment (Guangdong) Co. Limited.
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.66.16 |
|
|
1 |
Rs.103.88 |
|
Euro |
1 |
Rs.75.89 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
JYTK/ART |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILITY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
64 |
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.