MIRA INFORM REPORT

 

 

Report No. :

354905

Report Date :

24.12.2015

 

IDENTIFICATION DETAILS

 

Name :

KRISHNAPING MINERALS PRIVATE LIMITED

 

 

Registered Office :

38, Mona Shopping Centre, J.P Road, Andheri [West], Mumbai – 400058, Maharashtra

Tel. No.:

91-91-22-67084894

 

 

Country :

India

 

 

Financials (as on) :

31.03.2015

 

 

Date of Incorporation :

24.02.2007

 

 

Com. Reg. No.:

11-168134

 

 

Capital Investment / Paid-up Capital :

Rs. 26.584 Million

 

 

CIN No.:

[Company Identification No.]

U14220MH2007PTC168134

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUMK24704B

 

 

PAN No.:

[Permanent Account No.]

AADCK2285P

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Mining of Minerals. (From Indirect Sources)

 

 

No. of Employees :

Information declined by the management 

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (30)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is a part of “Krishnaping” group, comprising Krishnaping Alloys Limited and Krishnaping Minerals Private limited. The company got incorporated in the year 2007 and is engaged in mining of minerals.

 

The rating reflects the extensive experience of the company’s promoters in the manganese mining and trading industry. Rating further takes into account on company’s significant improvement in its revenue from its previous albite thin profitability margin in FY-15.

 

This rating strength is partially offset by the company’s significant exposure to political and regulatory risks, and average financial risk profile, marked by a moderate debt protection metrics.

 

However, trade relations are fair. Business is active. Payments are reported to be slow but correct.

 

In view of aforesaid, the company can be considered for business dealings with some cautions.

 

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

CRISIL

Rating

Long term bank facilities: BB

Rating Explanation

Inadequate credit quality and high credit risk.

Date

February 2015

 

 

Rating Agency Name

CRISIL

Rating

Short term bank facilities: A4+

Rating Explanation

Minimal degree of safety and very high credit risk.

Date

February 2015

 

 

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 DECLINED BY

 

Name :

Darshana

Designation :

Finance Department

Contact No.:

91-22-67084894/22929929

Date :

21.12.2015

 

 

LOCATIONS

 

Registered Office :

38, Mona Shopping Centre, J.P Road, Andheri [West], Mumbai – 400058, Maharashtra, India

Tel. No. :

91-22-22929929/ 67084894

Fax No. :

91-22-66717410

E-Mail :

krishnapinggroup@rediffmail.com

 

 

Corporate Office :

G-02, Vikas Centre, S.V. Road, Santacruz [West], Mumbai – 400054, Maharashtra, India

Tel. No. :

91-22-67417667/ 74

Fax No. :

91-22-67417669

E-Mail :

minerals@krishnaping.com

 

 

DIRECTORS

 

AS ON 31.03.2015

 

Name :

Mr. Sanjeev Ramesh Khandelwal

Designation :

Director

Address :

A-1001, Aster Tower, Dindoshi, Malad [East], Mumbai – 400097, Maharashtra, India

Date of Birth/Age :

02.09.1964

Date of Appointment :

24.02.2007

PAN No.:

AACPK3067H

DIN No. :

00790524

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U27106MH1989PTC052704

JAGAT ALLOYS PVT LTD.

Director

15/09/1995

15/09/1995

-

Active

NO

2

U27104MH1999PLC120845

KRISHNAPING ALLOYS LIMITED

Director

16/07/1999

16/07/1999

-

Active

NO

3

U99999MH1984PTC032557

SAHUWALA PASTAS ( BOMBAY) Private Limited

Director

3/1/2000

3/1/2000

-

Active

NO

4

U34100MH1995PLC087799

SHREE AUTO PRODUCTS LIMITED

Director

3/10/2000

3/10/2000

-

Active

NO

5

U14220MH2007PTC168134

KRISHNAPING MINERALS PRIVATE LIMITED

Director

24/02/2007

24/02/2007

-

Active

NO

6

U40102MH2007PTC170809

KRISHNAPING POWER PRIVATE LIMITED

Director

14/05/2007

14/05/2007

-

Active

NO

7

U26922KA1978PLC003325

VEDA CEMENTS LIMITED

Director

30/09/2008

12/11/2007

-

Active

NO

8

U90009KA1981PTC004505

MYSORE HOUSING COMPANY PRIVATE LIMITED,

Additional director

20/10/2008

20/10/2008

7/8/2009

Active

NO

9

L26940BR1991PLC007980

LAKSHMI CEMENT & CERAMICS INDUSTRIES LIMITED

Director

25/09/2010

7/8/2009

-

Active

NO

10

U74120MH2013PTC246152

V7EVEN MEDIA AND COMMUNICATION PRIVATE LIMITED

Director

25/07/2013

25/07/2013

-

Active

NO

11

U99999MH1996PTC104538

NEXUS PROPERTIES AND DEVELOPERS PRIVATE LIMITED

Director

5/6/2015

29/04/2015

-

Active

NO

12

U45200MH2008PTC185624

AAHANA INFRASTRUCTURE PRIVATE LIMITED

Additional director

16/10/2015

16/10/2015

-

Active

NO

 

 

Name :

Mrs. Manju Ramesh Khandelwal

Designation :

Director

Address :

A-1001, Aster Tower, Dindoshi, Malad [East], Mumbai – 400097, Maharashtra, India

Date of Birth/Age :

26.01.1943

Date of Appointment :

24.02.2007

PAN No.:

AAHPK0758N

DIN No. :

00790613

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U27106MH1989PTC052704

JAGAT ALLOYS PVT LTD.

Director

28/07/1989

28/07/1989

-

Active

NO

2

U27104MH1999PLC120845

KRISHNAPING ALLOYS LIMITED

Director

16/07/1999

16/07/1999

-

Active

NO

3

U99999MH1984PTC032557

SAHUWALA PASTAS ( BOMBAY) Private Limited

Director

1/10/2001

1/10/2001

-

Active

NO

4

U34100MH1995PLC087799

SHREE AUTO PRODUCTS LIMITED

Director

20/01/2005

20/01/2005

-

Active

NO

5

U14220MH2007PTC168134

KRISHNAPING MINERALS PRIVATE LIMITED

Director

24/02/2007

24/02/2007

-

Active

NO

6

U40102MH2007PTC170809

KRISHNAPING POWER PRIVATE LIMITED

Director

14/05/2007

14/05/2007

-

Active

NO

 

 

KEY EXECUTIVES

 

Name :

Darshana

Designation :

Finance Department

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 31.03.2015

 

Names of Shareholders

 

 

No. of Shares

Sanjeev Ramesh Khandelwal

 

1004000

Prashant Khushe

 

50000

Manju Ramesh Khandelwal

 

50000

Krishnaping Power Private Limited, India 

 

489370

Cloud Nine Realtors Private Limited, India 

 

175000

Golden Beach Infracon Private Limited, India 

 

190000

Proper Buildcon Private Limited, India 

 

125000

Westwing Developers Private Limited, India 

 

50000

Vista Landmark Private Limited, India 

 

100000

Virtuous Buildcon Private Limited, India 

 

85000

Uniworth Real Estate Developers Private Limited, India 

 

340000

Total

 

2658370

 

AS ON 26.09.2014

 

Equity Share Break up (Percentage of Total Equity)

 

Category

Percentage of Holding

Bodies corporate

60.35

Directors or relatives of Directors

39.65

 

 

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Mining of Minerals. (From Indirect Sources)

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

Not Divulged

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

Information declined by the management 

 

 

Bankers :

Banker Name

Union Bank of India

Branch Address

Sant Tukaram Road Branch, Apeejay Surendra, 24,Kramti Singh Nana Patil Marg,Baroda Street, Mumbai - 400009, Maharashtra, India

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

Facilities :

(Rs. In Million)

SECURED LOAN

As on

31.03.2015

As on

31.03.2014

LONG TERM BORROWING

 

 

Term loans from banks

0.000

6.606

SHORT TERM BORROWING

 

 

Rupee term loans from banks

215.992

138.979

Rupee term loans from others

4.666

5.796

Total

220.658

151.381

 

Auditors :

 

Name :

Gupta and Neeraj

Chartered Accountants

Address :

Plot No.06, 25/3, Murai Mohallabehind Rajtalkies Compound Mumbai, Maharashtra, India

Income-tax PAN of auditor or auditor's firm :

AABPS9969D

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Group Company  :

Krishnaping Alloys Limited (From Indirect Sources)

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2015

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

5,000,000

Equity Shares

Rs.10/- each

Rs. 50.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

2,658,370

Equity Shares

Rs.10/- each

Rs. 26.584 Million

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

31.03.2015

31.03.2014

31.03.2013

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

26.584

26.584

26.584

(b) Reserves & Surplus

181.516

175.908

168.849

(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)

208.100

202.492

195.433

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

5.100

12.016

65.857

(b) Deferred tax liabilities (Net)

14.033

11.804

9.001

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

0.000

0.000

0.000

Total Non-current Liabilities (3)

19.133

23.820

74.858

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

226.324

152.577

266.210

(b) Trade payables

210.307

87.992

337.447

(c) Other current liabilities

188.519

326.469

12.749

(d) Short-term provisions

0.145

0.160

0.175

Total Current Liabilities (4)

625.295

567.198

616.581

 

 

 

 

TOTAL

852.528

793.510

886.872

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

144.520

147.306

150.149

(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

0.000

0.000

0.000

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

15.045

5.080

6.468

(e) Other Non-current assets

0.016

0.023

0.005

Total Non-Current Assets

159.581

152.409

156.622

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

14.605

14.605

12.005

(b) Inventories

160.330

290.978

203.402

(c) Trade receivables

398.094

170.384

419.702

(d) Cash and cash equivalents

34.990

31.013

25.785

(e) Short-term loans and advances

6.011

10.148

0.286

(f) Other current assets

78.917

123.973

69.070

Total Current Assets

692.947

641.101

730.250

 

 

 

 

TOTAL

852.528

793.510

886.872

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2015

31.03.2014

31.03.2013

 

SALES

 

 

 

 

Income

1209.822

318.474

2012.163

 

Other Income

12.284

16.313

 

 

TOTAL (A)

1222.106

334.787

2012.163

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

1046.772

370.978

 

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

130.648

(87.577)

 

 

Employees benefits expense

3.290

2.964

 

 

Other expenses

8.244

8.116

 

 

TOTAL (B)

1188.954

294.481

2004.016

(Including financial expenses and Depreciation)

 

 

 

 

 

Less

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)

33.152

40.306

 

 

 

 

 

 

Less

FINANCIAL EXPENSES (D)

20.870

28.771

 

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)

12.282

11.535

 

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION (F)

3.686

3.063

 

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX (E-F)   (G)

8.596

8.472

8.147

 

 

 

 

 

Less

TAX (H)

2.589

1.412

4.880

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX  (G-H)   (I)

6.007

7.060

3.267

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

2.26

2.66

1.23

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2015

31.03.2014

31.03.2013

Current Maturities of Long term debt

NA

NA

NA

Cash generated from operations

NA

NA

NA

Net cash flows from (used in) operations

(63.520)

148.976

(94.319)

Net cash flows from (used in) operating activities

(65.255)

147.460

(95.545)

 

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2015

31.03.2014

31.03.2013

Net Profit Margin

(PAT / Sales)

(%)

0.50

2.22

NA

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

2.74

12.66

NA

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

1.01

1.07

0.92

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.04

0.04

0.04

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

1.11

0.81

1.70

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.11

1.13

1.18

 

 

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

26.584

26.584

26.584

Reserves & Surplus

168.849

175.908

181.516

Money received against share warrants

0.000

0.000

0.000

 Share Application money pending allotment

0.000

0.000

0.000

Net worth

195.433

202.492

208.100

 

 

 

 

long-term borrowings

65.857

12.016

5.100

Short term borrowings

266.210

152.577

226.324

Total borrowings

332.067

164.593

231.424

Debt/Equity ratio

1.699

0.813

1.112

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Total Income

2012.163

334.787

1222.106

 

 

(83.362)

265.040

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Total Income

2012.163

334.787

1222.106

Profit

3.267

23.373

18.291

 

0.16%

6.98%

1.50%

 

 

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

Yes

18

Major suppliers

No

19

Major customers

No

20

Banking Details

Yes

21

Banking facility details

Yes

22

Conduct of the banking account

--

23

Financials, if provided

Yes

24

Capital in the business

Yes

25

Last accounts filed at ROC, if applicable

Yes

26

Turnover of firm for last three years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

No

29

Profitability for last three years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

Yes

32

Litigations that the firm/promoter involved in

--

33

Market information

--

34

Payments terms

No

35

Negative Reporting by Auditors in the Annual Report

No

 

 

CHANGE OF ADDRESS

 

The Registered Office of the Company has been shifted from New Panvel Cooperative Housing Society Limited, Flat No. 41, 4th Floor, Plot No. 19, Sector No. III, New Panvel – 410206, Maharashtra, India to the present address w.e.f.31.12.2007.

 

STATE OF COMPANY’S AFFAIRS:

 

The Turnover of the Company during the financial year is Rs.1209.822 Million as against the turnover of Rs.318.474 Million in the previous year. However, the Net Profit after tax has reduced to Rs. 6.007 Million as against the net profit of Rs.7.060 Million during the previous year. The Company has achieved the result inspite of adverse market conditions. The Board is taking all necessary steps to improve the performance of the Company.

 

UNSECURED LOAN

 

(Rs. In Million)

Particulars

As on

31.03.2015

As on

31.03.2014

LONG TERM BORROWING

 

 

Term loans from others

5.100

5.410

SHORT TERM BORROWING

 

 

Rupee term loans from others

5.666

7.802

Total

10.766

13.212

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10283425

28/03/2011

50,000,000.00

UNION BANK OF INDIA

SANT TUKARAM ROAD BRANCH, APEEJAY SURENDRA 24,, K
RANTI SINGH NANA PATIL MARG, BARODA STREET,, MUMBAI, MAHARASHTRA - 400009, INDIA

B11502374

2

10263632

24/08/2012 *

300,000,000.00

UNION BANK OF INDIA

SANT TUKARAM ROAD BRANCH,APEEJAY SURENDRA,, 24,KR
AMTI SINGH NANA PATIL MARG,BARODA STREET, MUMBAI,
MAHARASHTRA - 400009, INDIA

B57149205

3

10192486

24/08/2012 *

350,000,000.00

UNION BANK OF INDIA

SANT TUKARAM ROAD BRANCH,APEEJAY SURENDRA,, 24,KR
AMTI SINGH NANA PATIL MARG,BARODA STREET, MUMBAI,
MAHARASHTRA - 400009, INDIA

B57150138

* Date of charge modification

 

FIXED ASSETS

 

Tangible assets

 

 

 

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 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.66.20

UK Pound

1

Rs.98.71

Euro

1

Rs.72.33

 

 

INFORMATION DETAILS

 

Information Gathered by :

PRT

 

 

Analysis Done by :

KAS

 

 

Report Prepared by :

KVT

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

4

PAID-UP CAPITAL

1~10

3

OPERATING SCALE

1~10

4

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

4

--PROFITABILITY

1~10

3

--LIQUIDITY

1~10

3

--LEVERAGE

1~10

3

--RESERVES

1~10

3

--CREDIT LINES

1~10

3

--MARGINS

-5~5

--

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

NO

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

30

 

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

 

--

 

 

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.