MIRA INFORM REPORT
|
Report No. : |
354865 |
|
Report Date : |
15.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
DALAL ENGINEERING PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
36-37, Jolly Maker Chambers 2, Nariman Point, Mumbai –
400021, Maharashtra |
|
Tel. No.: |
91-22-22024046 |
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|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
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|
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|
Date of
Incorporation : |
24.01.1956 |
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|
|
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Com. Reg. No.: |
11-009713 |
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|
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Capital
Investment / Paid-up Capital : |
Rs.50.400 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27100MH1956PTC009713 |
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|
|
|
IEC No.: |
0388126311 |
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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.] |
AAACD1852C |
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|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporters of Stainless Steel Equipment,
Textile Dyeing Machinery, Chemical Process Equipment, Finishing Machinery. (From Indirect Sources) |
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|
|
|
No. of Employees
: |
Information declined by the management
|
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (52) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
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|
|
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company incorporated in the year 1956 having
good track. As per registrar of companies the date of balance sheet (i.e., financial
filed) is shown as 31.03.2015 but the documents related to the financial for
the year 2015 are not available from any sources. As per available financial of 2014, financial position of the company seems
to be sound and healthy. Balance sheet of the company is debt free. The rating also takes into consideration company’s long established
track recorded favorable gap between trade payables and trade receivables. Trade relations are reported as fair. Business is active. Payments terms are reported as 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.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2015.
INFORMATION DENIED BY
|
Name : |
Mrs. Jyoti Padwal |
|
Designation : |
Accountant Manager |
|
Contact No.: |
91-22-22024046 |
|
Date : |
14.12.2015 |
LOCATIONS
|
Registered Office : |
36-37, Jolly Maker Chambers 2, Nariman Point, Mumbai –
400021, Maharashtra, India |
|
Tel. No.: |
91-22-22024046, 22850516 |
|
Fax No.: |
91-22-22029278 |
|
E-Mail : |
DIRECTORS
AS ON 31.03.2015
|
Name : |
Renu Nalin Dalal |
|
Designation : |
Director |
|
Address : |
8B, Brighton No.2, Off L. Jagmohandas Marg, Mumbai -
400006, Maharashtra, India |
|
Date of Birth/Age : |
16.11.1961 |
|
Date of Appointment : |
29.09.2004 |
|
DIN No.: |
00384052 |
|
|
|
|
Name : |
Mr. Ashwin Shashikant Dalal |
|
Designation : |
Director |
|
Address : |
Shanaz, 5C,, 90 L Jagmohandas Marg, Mumbai - 400006,
Maharashtra, India |
|
Date of Birth/Age : |
14.07.1946 |
|
Date of Appointment : |
29.09.2004 |
|
DIN No.: |
00384115 |
|
|
|
|
Name : |
Mr. Anil Vipin Dalal |
|
Designation : |
Director |
|
Address : |
8A, Brighton No.2, Off L. Jagmohandas Marg, Mumbai -
400006, Maharashtra, India |
|
Date of Birth/Age : |
08.10.1958 |
|
Date of Appointment : |
29.09.2004 |
|
DIN No.: |
00384024 |
KEY EXECUTIVES
|
Name : |
Mrs. Jyoti Padwal |
|
Designation : |
Accountant Manager |
MAJOR SHAREHOLDERS
AS ON 31.03.2015
|
Names of Shareholders |
|
No. of Shares |
|
Dalal V. Hansa |
|
16481 |
|
Dalal V. Hansa |
|
7728 |
|
Dalal S. Ashwin |
|
39900 |
|
Dalal V. Anil |
|
29904 |
|
Dalal V. Sharad |
|
13104 |
|
Dalal N. Deepak |
|
29064 |
|
Dalal S. Ashwin |
|
23352 |
|
Dalal S. Ashwin |
|
44100 |
|
Dalal V. Sharad |
|
21988 |
|
Shah S. Rajan |
|
2940 |
|
Dalal A. Amrish |
|
56280 |
|
Dalal N. Renu |
|
57092 |
|
Trivedi P. Varsha |
|
9408 |
|
Dalal V. Hansa |
|
10332 |
|
Dalal S. Gira |
|
13400 |
|
Dalal N. Sanjay |
|
62846 |
|
Dalal R. Kumar |
|
3150 |
|
Dalal S. Ashwin |
|
8400 |
|
Dalal V. Anil |
|
13793 |
|
Dalal A.Bela |
|
3396 |
|
Dalal A.Nikhil |
|
2900 |
|
Dalal S.Shibani |
|
1500 |
|
Dalal N. Deepak |
|
32942 |
|
Total |
|
504000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 23.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
98.49 |
|
Other top fifty shareholders |
1.51 |
|
Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporters of Stainless Steel Equipment,
Textile Dyeing Machinery, Chemical Process Equipment, Finishing Machinery. (From Indirect Sources) |
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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 : |
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 : |
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Auditors : |
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Name : |
B. V. Dalal and Company Chartered Accountants |
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Address : |
3rd Floor, Saraswati Sadan, 47 B Desai Road, Mumbai – 400026, Maharashtra, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFB1297J |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates/Subsidiaries : |
-- |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
600000 |
Equity Shares |
Rs.100/- each |
Rs. 60.000 Million |
|
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|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
504000 |
Equity Shares |
Rs.100/- each |
Rs. 50.400
Million |
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|
|
|
|
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 |
50.400 |
50.400 |
50.400 |
|
(b) Reserves &
Surplus |
114.353 |
109.345 |
106.611 |
|
(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) |
164.753 |
159.745 |
157.011 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.600 |
0.600 |
|
(d) long-term provisions |
7.356 |
7.150 |
7.803 |
|
Total Non-current
Liabilities (3) |
7.356 |
7.750 |
8.403 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
9.440 |
10.352 |
11.621 |
|
(c) Other current liabilities |
51.477 |
52.182 |
48.563 |
|
(d) Short-term provisions |
21.917 |
16.511 |
22.714 |
|
Total Current Liabilities
(4) |
82.834 |
79.045 |
82.898 |
|
|
|
|
|
|
TOTAL |
254.943 |
246.540 |
248.312 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
19.405 |
21.853 |
17.214 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.080 |
|
(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 |
99.364 |
87.440 |
92.482 |
|
(c) Deferred tax assets
(net) |
1.515 |
1.046 |
0.816 |
|
(d) Long-term Loan and Advances |
2.555 |
3.202 |
0.000 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
2.210 |
|
Total Non-Current Assets |
122.839 |
113.541 |
112.802 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
2.000 |
5.508 |
7.000 |
|
(b) Inventories |
86.089 |
69.256 |
70.155 |
|
(c) Trade receivables |
13.727 |
18.958 |
24.785 |
|
(d) Cash and cash
equivalents |
18.601 |
29.113 |
24.447 |
|
(e) Short-term loans and
advances |
11.038 |
9.814 |
8.752 |
|
(f) Other current assets |
0.649 |
0.350 |
0.371 |
|
Total Current Assets |
132.104 |
132.999 |
135.510 |
|
|
|
|
|
|
TOTAL |
254.943 |
246.540 |
248.312 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
NA |
NA |
NA |
|
|
Other Income |
NA |
NA |
NA |
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
Less |
EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
38.355 |
33.998 |
41.872 |
|
|
|
|
|
|
|
Less |
TAX |
9.761 |
7.833 |
12.132 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX |
28.594 |
26.165 |
29.740 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
35.944 |
35.833 |
35.507 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General Reserve |
2.862 |
2.623 |
3.055 |
|
|
Dividend |
20.160 |
20.160 |
22.680 |
|
|
Tax on Dividend |
3.426 |
3.271 |
3.679 |
|
|
Balance Carried to the
B/S |
38.090 |
35.944 |
35.833 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
56.73 |
51.91 |
59.01 |
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 |
0.000 |
0.000 |
0.000 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
24.90 |
21.51 |
27.01 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.23 |
0.21 |
0.27 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.59 |
1.68 |
1.63 |
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 |
50.400 |
50.400 |
50.400 |
|
Reserves & Surplus |
106.611 |
109.345 |
114.353 |
|
Net worth |
157.011 |
159.745 |
164.753 |
|
|
|
|
|
|
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 |
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 |
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 |
No |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
90161641 |
13/12/1981 |
300,000.00 |
THE BANK OF BARODA LTD. |
APOLLO STREET, FORT, BOMBAY, MAHARASHTRA, INDIA |
- |
|
2 |
90161509 |
23/03/1979 |
73,000.00 |
THE MAHARASHTRA STATE CORPORATION |
NEW EXCELSIOR
BUILDING FORT, FORT; KESHAV NAYAK M |
- |
|
3 |
90161347 |
02/10/1973 |
950,000.00 |
THE MAHARASHTRA STATE FINANCIAL CORPORATION |
UNITED INDIA
BUILDING, SIR P.M. ROAD; FORT, BOMBA |
- |
|
4 |
90161274 |
28/05/1970 |
117,000.00 |
THE MAHARASHTRA STATE FINANCIAL CORPORATION |
UNITED INDIA
BUILDING, SIR P.M. ROAD; FORT, BOMBA |
- |
|
5 |
90166940 |
03/08/1966 |
400,000.00 |
THE MAHARASHTRA STATE CORPORATION |
UNITED INDIA
BUILDING, SIR P.M. RAOD; FORT, BOMBA |
- |
FIXED ASSETS
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipment’s
- Other equipment’s
Intangible assets
- Computer software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No 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.66.99 |
|
UK Pound |
1 |
Rs.101.78 |
|
Euro |
1 |
Rs.73.47 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
KVT / GEET |
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 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
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 |
|
52 |
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.