MIRA INFORM REPORT

 

 

Report No. :

354117

Report Date :

16.12.2015

 

IDENTIFICATION DETAILS

 

Name :

THRIVENI RESOMIN PTE. LIMITED

 

 

Registered Office :

1 North Bridge Road #19-04/05 High Street Centre,, 179094

 

 

Country :

Singapore

 

 

Financials (as on) :

31.03.2015

 

 

Date of Incorporation :

30.11.2011

 

 

Com. Reg. No.:

201134481-W

 

 

Legal Form :

Private Limited

 

 

Line of Business :

Trading of minerals.

 

 

No. of Employee :

1 [2015]

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

Slow

 

 

Litigation :

Clear

 

 

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)

Singapore

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

SINGAPORE ECONOMIC OVERVIEW

 

Singapore has a highly developed and successful free-market economy. It enjoys a remarkably open and corruption-free environment, stable prices, and a per capita GDP higher than that of most developed countries. Unemployment is very low. The economy depends heavily on exports, particularly of consumer electronics, information technology products, medical and optical devices, pharmaceuticals, and on its vibrant transportation, business, and financial services sectors. The economy contracted 0.6% in 2009 as a result of the global financial crisis, but has continued to grow since 2010 on the strength of renewed exports. Growth in 2014 was slower at 2.9%, largely a result of soft demand for exports amid a sluggish global economy and weak growth in Singapore’s manufacturing sector. The government is attempting to restructure Singapore’s economy by weaning its dependence on foreign labor, addressing weak productivity, and increasing Singaporean wages. Singapore has attracted major investments in pharmaceuticals and medical technology production and will continue efforts to strengthen its position as Southeast Asia's leading financial and high-tech hub. Singapore is a member of the 12-nation Trans-Pacific Partnership free trade negotiations, the Regional Comprehensive Economic Partnership negotiations with the nine other ASEAN members plus Australia, China, India, Japan, South Korea and New Zealand, and in 2015, Singapore will form, with the other ASEAN members, the ASEAN Economic Community.

 

Source : CIA

 

 

EXECUTIVE SUMMARY

 

 

REGISTRATION NO.

:

201134481-W

COMPANY NAME

:

THRIVENI RESOMIN PTE. LIMITED

FORMER NAME

:

N/A

INCORPORATION DATE

:

30/11/2011

COMPANY STATUS

:

EXIST

LEGAL FORM

:

PRIVATE LIMITED

LISTED STATUS

:

NO

REGISTERED ADDRESS

:

1, NORTH BRIDGE ROAD, 19-04/05, HIGH STREET CENTRE, 179094, SINGAPORE.

BUSINESS ADDRESS

:

1 NORTH BRIDGE ROAD #19-04/05 HIGH STREET CENTRE,, 179094, SINGAPORE.

TEL.NO.

:

65-63372473/96172797

FAX.NO.

:

65-63382844

CONTACT PERSON

:

KARTHIKEYAN BALASUBRAMANIAN ( DIRECTOR )

PRINCIPAL ACTIVITY

:

TRADING OF MINERALS

ISSUED AND PAID UP CAPITAL

:

100,000.00 ORDINARY SHARE, OF A VALUE OF USD 1,000,000.00

SALES

:

USD 45,108,249 [2015]

NET WORTH

:

USD 317,711 [2015]

STAFF STRENGTH

:

1 [2015]

LITIGATION

:

CLEAR

FINANCIAL CONDITION

:

POOR

PAYMENT

:

SLOW

MANAGEMENT CAPABILITY

:

AVERAGE

COMMERCIAL RISK

:

MODERATE

CURRENCY EXPOSURE

:

MODERATE

GENERAL REPUTATION

:

SATISFACTORY

INDUSTRY OUTLOOK

:

AVERAGE GROWTH

 

 

HISTORY / BACKGROUND

 

The Subject is a private limited company and is allowed to have a minimum of one and a maximum of forty-nine shareholders. As a private limited company, the Subject must have at least two directors. A private limited company is a separate legal entity from its shareholders. As a separate legal entity, the Subject is capable of owning assets, entering into contracts, sue or be sued by other companies. The liabilities of the shareholders are to the extent of the equity they have taken up and the creditors cannot claim on shareholders' personal assets even if the Subject is insolvent. The Subject is governed by the Companies Act and the company must file its annual returns, together with its financial statements with the Registrar of Companies.

The Subject is principally engaged in the (as a / as an) trading of minerals.

 

The immediate holding company of the Subject is THRIVENI EARTHMOVERS PRIVATE LIMITED, a company incorporated in INDIA.

 

Share Capital History

Date

Issue & Paid Up Capital

09/12/2015

USD 1,000,000.00

 

The major shareholder(s) of the Subject are shown as follows :


Current Shareholder(s) :

Name

Address

IC/PP/Loc No

Shareholding

(%)

THRIVENI EARTHMOVERS PRIVATE LIMITED

22/110, GREENWAYS ROAD, FAIRLANDS, SALEM, 636016, TAMIL NADU

T11UF4754

100,000.00

100.00

---------------

------

100,000.00

100.00

============

=====

+ Also Director



DIRECTORS

 

DIRECTOR 1

 

Name Of Subject

:

KARTHIKEYAN BALASUBRAMANIAN

Address

:

NEW, 120/3, OLD, 3/75A, PLOT 65, NEW FAIRLANDS, SALEM, 636016, TAMIL NADU, INDIA.

IC / PP No

:

Z1966731

Nationality

:

INDIAN

Date of Appointment

:

30/11/2011

 

DIRECTOR 2

 

Name Of Subject

:

RAJA MUHAMMAD SHAH BIN ABDULLAH

Address

:

506, WEST COAST DRIVE, 11-209, WEST COAST VISTA, 120506, SINGAPORE.

IC / PP No

:

S1392101F

Nationality

:

SINGAPOREAN

Date of Appointment

:

03/06/2015

 

 

MANAGEMENT

 

 

 

1)

Name of Subject

:

KARTHIKEYAN BALASUBRAMANIAN

Position

:

DIRECTOR

 

 

 

AUDITOR

 

Auditor

:

NATARAJAN & SWAMINATHAN

Auditor' Address

:

N/A

 

 

 

COMPANY SECRETARIES

 

1)

Company Secretary

:

RAJA MUHAMMAD SHAH BIN ABDULLAH

IC / PP No

:

S1392101F

Address

:

506, WEST COAST DRIVE, 11-209, WEST COAST VISTA, 120506, SINGAPORE.

 

 

 

BANKING


No Banker found in our databank.

 

ENCUMBRANCE (S)


No encumbrance was found in our databank at the time of investigation.

 

 

LITIGATION CHECK AGAINST SUBJECT


* A check has been conducted in our databank againt the Subject whether the subject has been involved in any litigation.

No legal action was found in our databank.

No winding up petition was found in our databank.

 

PAYMENT RECORD

 

 

SOURCES OF RAW MATERIALS:

Local

:

N/A

Overseas

:

N/A


The staff from the registered office refused to disclose the Subject's suppliers.

 

 

CLIENTELE

 

Local

:

YES

Domestic Markets

:

SINGAPORE

Overseas

:

YES

Export Market

:

WORLDWIDE

Credit Term

:

N/A

Payment Mode

:

CHEQUES
TELEGRAPHIC TRANSFER (TT)

 

 

OPERATIONS

 

Goods Traded

:

MINERALS

 

Total Number of Employees:

YEAR

2015

2014

GROUP

N/A

COMPANY

1

n/a

 

Branch

:

NO

Other Information:


The Subject is principally engaged in the (as a / as an) trading of minerals.

The Subject deals with minerals such as Iron Ore, Copper, Bauxite, Limestone, Lignite, Amour Rock and Aggregates.


CURRENT INVESTIGATION

 

Latest fresh investigations carried out on the Subject indicated that :

Telephone Number Provided By Client

:

N/A

Current Telephone Number

:

65-63372473/96172797

Match

:

N/A

Address Provided by Client

:

THE NOMAD OFFICE 3 RAFFLES PLACE BHARATH BUILDING 09-09A SINGAPORE 048617

Current Address

:

1 NORTH BRIDGE ROAD #19-04/05 HIGH STREET CENTRE,, 179094, SINGAPORE.

Match

:

NO

 

Other Investigations


On 8th December 2015 we contacted one of the staff from the Subject's registered office and she only provided limited information.

We found the contact number at 96172797 based on the address provided but it is not answered.


FINANCIAL ANALYSIS

 

 

Profitability

Turnover

:

Increased

[

2013 - 2015

]

Profit/(Loss) Before Tax

:

Decreased

[

2013 - 2015

]

Return on Shareholder Funds

:

Unfavourable

[

(8.11%)

]

Return on Net Assets

:

Unfavourable

[

62.42%

]

The Subject's turnover increased steadily as the demand for its products / services increased due to the goodwill built up over the years.The Subject incurred losses during the year due to the inefficient control of its operating costs. The Subject's unfavourable returns on shareholders' funds indicate the management's inefficiency in utilising its assets to generate returns.

Working Capital Control

Stock Ratio

:

Nil

[

0 Days

]

Debtor Ratio

:

Favourable

[

29 Days

]

Creditors Ratio

:

Favourable

[

0 Days

]

As the Subject is a service oriented company, the Subject does not need to keep stocks. The favourable debtors' days could be due to the good credit control measures implemented by the Subject. The Subject had a favourable creditors' ratio where the Subject could be taking advantage of the cash discounts and also wanting to maintain goodwill with its creditors.

Liquidity

Liquid Ratio

:

Favourable

[

1.07 Times

]

Current Ratio

:

Unfavourable

[

1.07 Times

]

A minimum liquid ratio of 1 should be maintained by the Subject in order to assure its creditors of its ability to meet short term obligations and the Subject was in a good liquidity position. Thus, we believe the Subject is able to meet all its short term obligations as and when they fall due.

Solvency

Interest Cover

:

Unfavourable

[

0.89 Times

]

Gearing Ratio

:

Unfavourable

[

4.34 Times

]

The Subject's interest cover was low. If its profits fall or when interest rate rises, it  may not be able to meet all its interest payment. The Subject was highly geared, thus it had a high financial risk. The Subject was dependent on loans to finance its business needs. In times of economic downturn and / or high interest rate, the Subject will become less profitable and competitive than other firms in the same industry, which are lowly geared. This is because the Subject has to service the interest and to repay the loan, which will erode part of its profits. The profits will fluctuate depending on the Subject's turnover and the interest it needs to pay.

Overall Assessment :

Although the Subject's turnover increased its profits however showed a reverse trend. The losses could be due to the management's failure to maintain its competitiveness in the market. The Subject was in good liquidity position with its total current liabilities well covered by its total current assets. With its current net assets, the Subject should be able to repay its short term obligations. If there is a fall in the Subject's profit or any increase in interest rate, the Subject may not be able to generate sufficient cash-flow to service its interest. The Subject's gearing level was high and its going concern will be in doubt if there is no injection of additional shareholders' funds in times of economic downturn and / or high interest rates.

Overall financial condition of the Subject : POOR

 

 

 

SINGAPORE ECONOMIC / INDUSTRY OUTLOOK

 

 

Major Economic Indicators :

2010

2011

2012

2013

2014

 

Population (Million)

5.08

5.18

5.31

5.40

5.47

Gross Domestic Products ( % )

14.5

4.9

1.3

3.7

(3.5)

Consumer Price Index

2.8

5.2

4.6

2.4

2.4

Total Imports (Million)

423,221.8

459,655.1

474,554.0

466,762.0

463,779.1

Total Exports (Million)

478,840.7

514,741.2

510,329.0

513,391.0

518,922.7

 

Unemployment Rate (%)

2.2

2.1

2.0

1.9

1.9

Tourist Arrival (Million)

11.64

13.17

14.49

15.46

15.01

Hotel Occupancy Rate (%)

85.6

86.5

86.4

86.3

85.5

Cellular Phone Subscriber (Million)

1.43

1.50

1.52

1.97

1.98

 

Registration of New Companies (No.)

29,798

32,317

31,892

37,288

41,589

Registration of New Companies (%)

12.8

8.5

(1.3)

9.8

11.5

Liquidation of Companies (No.)

15,126

19,005

17,218

17,369

18,767

Liquidation of Companies (%)

(32.5)

25.6

9.4

(5.3)

8.0

 

Registration of New Businesses (No.)

23,978

23,494

24,788

22,893

35,773

Registration of New Businesses (%)

(10.78)

2.02

5.51

1.70

56.30

Liquidation of Businesses (No.)

24,211

23,005

22,489

22,598

22,098

Liquidation of Businesses (%)

2.8

(5)

(2.2)

0.5

(2.2)

 

Bankruptcy Orders (No.)

1,537

1,527

1,748

1,992

1,757

Bankruptcy Orders (%)

(25.3)

(0.7)

14.5

14.0

(11.8)

Bankruptcy Discharges (No.)

2,252

1,391

1,881

2,584

3,546

Bankruptcy Discharges (%)

(26.3)

(38.2)

35.2

37.4

37.2

 

INDUSTRIES ( % of Growth ) :

Agriculture

Production of Principal Crops

(0.48)

4.25

3.64

-

Fish Supply & Wholesale

(10.5)

12.10

(0.5)

-

2.80

 

Manufacturing *

92.8

100.0

100.3

102.0

Food, Beverages & Tobacco

96.4

100.0

103.5

103.5

105.0

Textiles

122.1

100.0

104.0

87.1

74.9

Wearing Apparel

123.3

100.0

92.1

77.8

49.5

Leather Products & Footwear

81.8

100.0

98.6

109.8

95.9

Wood & Wood Products

104.0

100.0

95.5

107.4

112.0

Paper & Paper Products

106.1

100.0

97.4

103.2

103.4

Printing & Media

103.5

100.0

93.0

86.1

80.3

Crude Oil Refineries

95.6

100.0

99.4

93.5

85.6

Chemical & Chemical Products

97.6

100.0

100.5

104.1

114.0

Pharmaceutical Products

75.3

100.0

109.7

107.2

115.7

Rubber & Plastic Products

112.3

100.0

96.5

92.9

92.8

Non-metallic Mineral

92.5

100.0

98.2

97.6

82.2

Basic Metals

102.2

100.0

90.6

76.5

98.3

Fabricated Metal Products

103.6

100.0

104.3

105.1

105.1

Machinery & Equipment

78.5

100.0

112.9

114.5

124.0

Electrical Machinery

124.1

100.0

99.3

108.5

121.3

Electronic Components

113.6

100.0

90.6

94.3

95.0

Transport Equipment

94.0

100.0

106.3

107.5

103.2

 

Construction

14.20

20.50

28.70

-

22.00

Real Estate

21.3

25.4

31.9

-

145.1

 

Services

Electricity, Gas & Water

4.00

7.00

6.30

-

Transport, Storage & Communication

12.80

7.40

5.30

-

14.20

Finance & Insurance

(0.4)

8.90

0.50

-

6.00

Government Services

9.70

6.90

6.00

-

Education Services

(0.9)

(1.4)

0.30

-

5.98

 

* Based on Index of Industrial Production (2011 = 100)



INDUSTRY ANALYSIS

 

INDUSTRY :

TRADING

The wholesale and retail trade sectors have expanded by 2.0% in the third quarter of 2014, extending the 1.8 per cent growth in the previous quarter. In 2013, the wholesale and retail sector expanded by 5.0%, after declining by 1.4% the year before. Growth of the sector was driven by the wholesale trade segment.

The domestic wholesale trade index has increased by 3.2% in the fourth quarter of 2013, moderating from the 6.6% growth in the previous quarter. The slower growth was due to a decline in the sales of furniture and household equipment (-12%) and petroleum and petroleum products (-0.6%). For the full year, the domestic wholesale trade index grew by 5.2% reversing the 2.2% decline in 2012. On the other hand, the foreign wholesale trade index has increased by a slower pace of 5.6% in the fourth quarter, compared to the 7.7% expansion in the preceding quarter. The slowdown was due to a fall in the sales of telecommunication equipment and computer (-3.8%) and petroleum and petroleum products (-2.5%). For the full year, the growth of the foreign wholesale trade index moderated slightly to 8.6% from 9.1% in the previous year.

In the fourth quarter of 2013, retail sales volume fell by 6.2%, extending the 5.6% decline in the previous quarter. Excluding motor vehicles, retail sales volume increased by 0.4%, a slower pace of expansion as compared to the 1.6% gain in the preceding quarter. The sales volume of motor vehicles fell by 33% in the fourth quarter of 2013, extending the 32% decline in the previous quarter. Meanwhile, the sales of several discretionary items also fell in the fourth quarter of 2013. For instance, the sales of telecommunications apparatus and computers fell by 12%, while the sales of furniture and household equipment declined by 5.4%.

For the full year, retail sales volume contracted by 4.3%, a reversal from the 1.3% expansion in 2012. Excluding motor vehicle sales, the retail sales volume grew by 1.1% in 2013, slower than the 1.7% increase in 2012. Watches and jewellery recorded the largest increase (11%) in sales in 2013, followed by optical goods and book (3%) and medical goods and toiletries (3%). By contrast, the sales of telecommunications apparatus and computer (-7.3%), furniture and household equipment (-4.2%) and petrol service stations (-1.4) declined in 2013.

OVERALL INDUSTRY OUTLOOK : AVERAGE GROWTH



CREDIT RISK EVALUATION & RECOMMENDATION

 

 


Incorporated in 2011, the Subject is a Private Limited company, focusing on trading of minerals. The Subject has been in business for less than 5 years and it has slowly been building up contact with its clients while competing in the industry. However, it has yet to enjoy a stable market shares as it need to compete many well established players in the same field. Presently, the issued and paid up capital of the Subject stands at USD 1,000,000. The Subject have a strong support from its holding company.

Over the years, the Subject has penetrated into both the local and overseas market. The Subject has positioned itself in the global market and is competing in the industry. Its stable clientele base will enable the Subject to further enhance its business in the near term. Being a small company, the Subject's business operation is supported by only 1 employee. Overall, we regard that the Subject's management capability is average. This indicates that the Subject has greater potential to improve its business performance and raising income for the Subject.

Despite the higher turnover, the Subject suffered pre-tax losses which reflected a highly competitive business environment. The Subject has generated an unfavourable return on shareholders' funds indicating that the management was inefficient in utilising its funds to generate return. The Subject is in good liquidity position with its current liabilities well covered by it current assets. Hence, it has sufficient working capital to meet its short term financial obligations. The high gearing ratio clearly implied that the Subject was supported by more debt than equity. Thus, the Subject is exposed to high financial risk.

The industry shows an upward trend and this trend is very likely to sustain in the near terms.

In view of the above, we only recommend credit be proceeded to the Subject with guarantee.

 



PROFIT AND LOSS ACCOUNT

 

 

THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL REPORTING STANDARDS.

 

Financial Year End

2015-03-31

2014-03-31

2013-03-31

Months

12

12

12

Consolidated Account

Company

Company

Company

Audited Account

YES

YES

YES

Unqualified Auditor's Report (Clean Opinion)

YES

YES

YES

Financial Type

FULL

FULL

FULL

Currency

USD

USD

USD

TURNOVER

45,108,249

37,278,350

8,198,006

Other Income

8,851

9,914

13,374

----------------

----------------

----------------

Total Turnover

45,117,100

37,288,264

8,211,380

Costs of Goods Sold

(44,720,228)

(36,589,090)

(8,111,604)

----------------

----------------

----------------

Gross Profit

396,872

699,174

99,776

----------------

----------------

----------------

PROFIT/(LOSS) FROM OPERATIONS

(25,758)

373,952

(1,030,483)

----------------

----------------

----------------

PROFIT/(LOSS) BEFORE TAXATION

(25,758)

373,952

(1,030,483)

----------------

----------------

----------------

PROFIT/(LOSS) AFTER TAXATION

(25,758)

373,952

(1,030,483)

----------------

----------------

----------------

RETAINED PROFIT/(LOSS) BROUGHT FORWARD

As previously reported

(656,531)

(1,030,483)

-

----------------

----------------

----------------

As restated

(656,531)

(1,030,483)

-

----------------

----------------

----------------

PROFIT AVAILABLE FOR APPROPRIATIONS

(682,289)

(656,531)

(1,030,483)

----------------

----------------

----------------

RETAINED PROFIT/(LOSS) CARRIED FORWARD

(682,289)

(656,531)

(1,030,483)

=============

=============

=============

INTEREST EXPENSE (as per notes to P&L)

Trust receipts

224,084

230,728

88,384

----------------

----------------

----------------

224,084

230,728

88,384

=============

=============

=============

DEPRECIATION (as per notes to P&L)

3,357

3,106

4,103

----------------

----------------

----------------

3,357

3,106

4,103

=============

=============

=============

 

BALANCE SHEET

 

 

 

 

ASSETS EMPLOYED:

FIXED ASSETS

489

3,094

10,200

Others

50,000

50,000

-

----------------

----------------

----------------

TOTAL LONG TERM INVESTMENTS/OTHER ASSETS

50,000

50,000

-

----------------

----------------

----------------

TOTAL LONG TERM ASSETS

50,489

53,094

10,200

Trade debtors

3,553,480

389,124

-

Other debtors, deposits & prepayments

10,141

136,333

9,459

Amount due from holding company

-

55,000

-

Amount due from related companies

-

1,006,344

1,777,165

Cash & bank balances

538,889

176,301

67,213

----------------

----------------

----------------

TOTAL CURRENT ASSETS

4,102,510

1,763,102

1,853,837

----------------

----------------

----------------

TOTAL ASSET

4,152,999

1,816,196

1,864,037

=============

=============

=============

Other creditors & accruals

230,934

15,227

90,379

Bank overdraft

-

-

9,141

Other borrowings

1,380,000

1,457,500

1,595,000

Amounts owing to holding company

-

-

200,000

Amounts owing to related companies

2,224,354

-

-

----------------

----------------

----------------

TOTAL CURRENT LIABILITIES

3,835,288

1,472,727

1,894,520

----------------

----------------

----------------

NET CURRENT ASSETS/(LIABILITIES)

267,222

290,375

(40,683)

----------------

----------------

----------------

TOTAL NET ASSETS

317,711

343,469

(30,483)

=============

=============

=============

SHARE CAPITAL

Ordinary share capital

1,000,000

1,000,000

1,000,000

----------------

----------------

----------------

TOTAL SHARE CAPITAL

1,000,000

1,000,000

1,000,000

Retained profit/(loss) carried forward

(682,289)

(656,531)

(1,030,483)

----------------

----------------

----------------

TOTAL RESERVES

(682,289)

(656,531)

(1,030,483)

----------------

----------------

----------------

SHAREHOLDERS' FUNDS/EQUITY

317,711

343,469

(30,483)

----------------

----------------

----------------

317,711

343,469

(30,483)

=============

=============

=============

 

 

 

FINANCIAL RATIO

 

 

 

TYPES OF FUNDS

Cash

538,889

176,301

67,213

Net Liquid Funds

538,889

176,301

58,072

Net Liquid Assets

267,222

290,375

(40,683)

Net Current Assets/(Liabilities)

267,222

290,375

(40,683)

Net Tangible Assets

317,711

343,469

(30,483)

Net Monetary Assets

267,222

290,375

(40,683)

PROFIT & LOSS ITEMS

Earnings Before Interest & Tax (EBIT)

198,326

604,680

(942,099)

Earnings Before Interest, Taxes, Depreciation And Amortization (EBITDA)

201,683

607,786

(937,996)

BALANCE SHEET ITEMS

Total Borrowings

1,380,000

1,457,500

1,604,141

Total Liabilities

3,835,288

1,472,727

1,894,520

Total Assets

4,152,999

1,816,196

1,864,037

Net Assets

317,711

343,469

(30,483)

Net Assets Backing

317,711

343,469

(30,483)

Shareholders' Funds

317,711

343,469

(30,483)

Total Share Capital

1,000,000

1,000,000

1,000,000

Total Reserves

(682,289)

(656,531)

(1,030,483)

LIQUIDITY (Times)

Cash Ratio

0.14

0.12

0.04

Liquid Ratio

1.07

1.20

0.98

Current Ratio

1.07

1.20

0.98

WORKING CAPITAL CONTROL (Days)

Stock Ratio

0

0

0

Debtors Ratio

29

4

0

Creditors Ratio

0

0

0

SOLVENCY RATIOS (Times)

Gearing Ratio

4.34

4.24

(52.62)

Liabilities Ratio

12.07

4.29

(62.15)

Times Interest Earned Ratio

0.89

2.62

(10.66)

Assets Backing Ratio

0.32

0.34

(0.03)

PERFORMANCE RATIO (%)

Operating Profit Margin

(0.06)

1.00

(12.57)

Net Profit Margin

(0.06)

1.00

(12.57)

Return On Net Assets

62.42

176.05

3,090.57

Return On Capital Employed

62.42

176.05

4,414.30

Return On Shareholders' Funds/Equity

(8.11)

108.88

3,380.52

Dividend Pay Out Ratio (Times)

0

0

0

NOTES TO ACCOUNTS

Contingent Liabilities

0

0

0



FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.67.04

UK Pound

1

Rs.101.67

Euro

1

Rs.73.93

USD

1

Rs.66.84

Note : Above are approximate rates obtained from sources believed to be correct

 

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

ANK

 

 

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 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%)

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.
 
 


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