MIRA INFORM REPORT

 

 

Report No. :

306212

Report Date :

04.02.2015

 

IDENTIFICATION DETAILS

 

Name :

INDIA TECHS LIMITED (w.e.f.14.06.1994)

 

 

Formerly Known As :

INDIA TECHS SALES AND SERVICES PRIVATE LIMITED

 

 

Registered Office :

39/4006 Kelmers Complex, Sreekandath Road, Ravipuram, Kochi-682016, Kerala

 

 

Country :

India

 

 

Financials (as on) :

31.03.2013

 

 

Date of Incorporation :

18.08.1983

 

 

Com. Reg. No.:

09-003770

 

 

Capital Investment / Paid-up Capital :

Rs. 5.250 Millions

 

 

CIN No.:

[Company Identification No.]

U51103KL1983PLC003770

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AAACI4968G

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

Line of Business :

Company’s business is sales, service and repair of JCB machines and equipments including sale of spare parts.

 

 

No. of Employees :

Not Divulged

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (44)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having satisfactory track.

 

Management of the company has failed to file its latest financial for the year 2014 with the Government Department.

 

As per available financial of 2013, profitability of the company seems to be low. However, general financial position of the company seems to be decent.

 

Trade relations are reported as fair. Business is active. Payment terms are reported to be slow but correct.

 

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 – December 31, 2014

 

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

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 rating BB+ (Suspended)

Rating Explanation

Have moderate risk of default.

Date

January 30, 2015

 

Reason for Suspension:

The suspension of ratings is on account of non-cooperation by ITL with CRISIL efforts to undertake a review of the ratings outstanding

 

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 31-03-2014.

 

INFORMATION DECLINED

 

Management Non-corporative (91-484-2351409)

 

LOCATIONS

 

Registered Office :

39/4006 Kelmers Complex, Sreekandath Road, Ravipuram, Kochi-682016, Kerala, India

Tel. No.:

91-484-2351409

Fax No.:

91-484-2370743

E-Mail :

intechjcb@gmail.com

 

 

 

DIRECTORS

 

As on 30.09.2013

 

Name :

Thomas Vinici George

Designation :

Managing Director

Address :

26/507 A, Elysia Yacht Club Enclave Konthuruthy, Thevara P.O. Kochi-682013, Ernakulam, Kerala, India

Date of Birth/Age :

18.04.1955

Date of Appointment :

27.09.2011

DIN No.:

00221217

PAN No.:

AAFPT4792B

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

U51103KL1983PLC003770

INDIA TECHS LIMITED

Managing director

27/09/2011

29/08/1987

-

Active

NO

2

U29299KL1994PLC008000

INTECHS MANUFACTURING LIMITED

Director

20/11/2011

27/06/1994

-

Active

NO

3

U29244KL1998PLC012188

AQUADUC EQUIPMENTS LIMITED

Director

31/07/1998

31/07/1998

-

Active

NO

 

 

Name :

Thayil George Thomas

Designation :

Director

Address :

26/368 D, Yacht Club Enclave Konthuruthy Thevara P.O., Kochi-682013, Eranakulam, Kerala, India

Date of Birth/Age :

04.07.1984

Date of Appointment :

29.09.2011

DIN No.:

00834346

PAN No.:

AGRPT2562P

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

U52599KL1991PTC006091

TELSA MARKETING PVT LTD

Director

30/09/2006

30/09/2006

-

Active

NO

2

U51103KL1983PLC003770

INDIA TECHS LIMITED

Director

29/09/2011

04/06/2011

-

Active

NO

3

U31101KL2000PTC014301

DEEV GEN SET PRIVATE LIMITED

Director

30/09/2011

25/07/2011

29/11/2014

Active

NO

4

U70100KL2011PTC029526

TELSA REALTIES PRIVATE LIMITED

Director

07/10/2011

07/10/2011

-

Active

NO

 

 

Name :

Thomas Elizabeth

Designation :

Director

Address :

26/507 A, Elysia Yacht Club Enclave Konthuruty Thevara P.O. Kochi - 682013, Ernakulam, Kerala, India

Date of Birth/Age :

22.07.1960

Date of Appointment :

30.09.2013

DIN No.:

00258573

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

U52599KL1991PTC006091

TELSA MARKETING PVT LIMITED

Managing director

24/06/1991

24/06/1991

-

Active

NO

2

U51909TZ2003PTC010486

TELSA AGENCIES PRIVATE LIMITED

Director

17/02/2003

17/02/2003

-

Active

NO

3

U70100KL2011PTC029526

TELSA REALTIES PRIVATE LIMITED

Director

07/10/2011

07/10/2011

-

Active

NO

4

U51103KL1983PLC003770

INDIA TECHS LIMITED

Director

30/09/2013

30/09/2013

-

Active

NO

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 30.09.2013

 

Names of Shareholders

 

No. of Shares

P.C. Chacko

 

900

Thomas Philipose

 

450

Cherian A. Commodore

 

450

Thomas Vinici George

 

102870

Thomas Elizabeth

 

103050

V.C. Anthony

 

9810

Thomas Vinici George Jointly With Thomas Elizabeth

 

45000

Thayil George Thomas

 

29250

Ms. Elsa George Thayil

 

29250

Euro Equipments Private Limited

 

151200

P. B. Ramchanran

 

90

P. N. Karishnamurthy

 

90

Harihara kumar N.

 

90

Total

 

472500

 

Equity Share Break up (Percentage of Total Equity)

 

Category

Percentage

Bodies corporate

32.00

Directors or relatives of Directors

65.68

Other top fifty shareholders

2.32

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Company’s business is sales, service and repair of JCB machines and equipments including sale of spare parts.

 

 

Products :

Item Code No. (ITC Code)

Product Description

98010030

JCB Excavator Loader

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

 

Selling :

Not Divulged

 

 

Purchasing :

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

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

Customers :

 

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

No. of Employees :

Not Divulged

 

 

Bankers :

 

Banker Name :

Indusind Bank Limited

Branch Address :

2401 Gen Thimmayya Road, Contonment, Pune - 411001, Maharashtra, India

Facilities :

Not Divulged

Person Name :

Not Divulged

Contact No.:

Not Divulged

Report :

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

 

 

Banker Name :

Central Bank of India

Branch Address :

Narayanan Centre ,M.G. Road, Ernakulam, Kochi - 682035, Kerala, India

Facilities :

Not Divulged

Person Name :

Not Divulged

Contact No.:

Not Divulged

Report :

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 Millions)

SECURED LOAN

As on

31.03.2013

As on

31.03.2012

Long Term Borrowing

 

 

Rupee term loans from banks

0.419

1.783

 

 

 

Short Term Borrowing

 

 

Loans repayable on demand from banks

183.875

149.217

 

 

 

Total

184.294

151.000

 

Auditors :

 

Name :

P C Varghese and Company

Chartered accountant

Address :

1st Floor, Bhageeratha Square, Banerji Road, Kochi-682018, Kerala, India

PAN No.:

AAZPA9846M

 

 

Memberships :      

Not Available

 

 

Collaborators :

Not Available

 

 

Associates :

Telsa Marketing Private Limited

U52599KL1991PTC006091

 

 

CAPITAL STRUCTURE

 

As on 30.09.2013

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

900000

Equity Shares

Rs.100/- each

Rs.90.000 millions

100000

Preference shares

Rs.100/- each

Rs.10.000 Millions

 

Total

 

Rs.100.000 Millions

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

472500

Equity Shares

Rs.100/- each

Rs.47.250 millions

 

 

 

 

 

As on 31.03.2013

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

60000

Equity Shares

Rs.100/- each

Rs.6.000 millions

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

52500

Equity Shares

Rs.100/- each

Rs.5.250 millions

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2013

31.03.2012

31.03.2011

I.        EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

5.250

5.250

5.250

(b) Reserves & Surplus

129.244

122.018

92.374

(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)

134.494

127.268

97.624

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

0.419

1.783

1.600

(b) Deferred tax liabilities (Net)

1.716

2.549

3.342

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

5.319

3.857

2.145

Total Non-current Liabilities (3)

7.454

8.189

7.087

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

375.995

254.523

97.774

(b) Trade payables

192.796

224.745

191.397

(c) Other current liabilities

51.013

50.488

71.466

(d) Short-term provisions

4.681

13.855

12.905

Total Current Liabilities (4)

624.485

543.611

373.542

 

 

 

 

TOTAL

766.433

679.068

478.253

 

 

 

 

II.      ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

65.672

28.865

27.783

(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

0.035

1.445

0.895

(c) Deferred tax assets (net)

48.086

21.844

15.463

(d)  Long-term Loan and Advances

6.266

3.554

3.524

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

120.059

55.708

47.665

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

315.454

319.693

200.813

(c) Trade receivables

172.595

122.911

72.834

(d) Cash and cash equivalents

35.106

84.487

86.468

(e) Short-term loans and advances

123.219

96.269

70.473

(f) Other current assets

0.000

0.000

0.000

Total Current Assets

646.374

623.360

430.588

 

 

 

 

TOTAL

766.433

679.068

478.253

 

 

PROFIT & LOSS ACCOUNT

 

 

 

PARTICULARS

31.03.2013

31.03.2012

31.03.2011

 

SALES

 

 

 

 

 

Income

2170.691

2587.355

1936.727

 

 

Other Income

2.213

2.401

1.203

 

 

TOTAL                                     (A)

2172.904

2589.756

1937.930

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Purchases of Stock-in-Trade

1864.194

2427.210

1796.218

 

 

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

4.239

(118.880)

(73.774)

 

 

Employees benefits expense

97.686

81.995

57.477

 

 

Other expenses

144.452

130.966

108.635

 

 

TOTAL                                     (B)

2110.571

2521.291

1888.556

 

 

 

 

 

Less

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)      (C)

62.333

68.465

49.374

 

 

 

 

 

Less

FINANCIAL EXPENSES                         (D)

46.400

21.769

10.454

 

 

 

 

 

 

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

15.933

46.696

38.920

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

4.860

3.991

3.681

 

 

 

 

 

 

PROFIT BEFORE TAX (E-F)                               (G)

11.073

42.705

35.239

 

 

 

 

 

Less

TAX                                                                  (H)

3.849

14.649

12.852

 

 

 

 

 

 

PROFIT AFTER TAX (G-H)                                (I)

7.224

28.056

22.387

 

 

 

 

 

 

Earnings Per Share (Rs.)

138.00

534.00

426.00

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2013

31.03.2012

31.03.2011

Net Profit Margin

(PAT / Sales)

(%)

0.33

1.08

1.16

 

 

 

 

 

Operating Profit Margin

(PBDIT/Sales)

(%)

2.87

2.65

2.55

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

1.54

6.51

7.63

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.08

0.34

0.36

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

2.80

2.01

1.02

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.04

1.15

1.15

 

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

 

 

DEBT EQUITY RATIO

 

Particular

31.03.2011

31.03.2012

31.03.2013

 

(Rs. In Millions)

(Rs. In Millions)

(Rs. In Millions)

Share Capital

5.250

5.250

5.250

Reserves & Surplus

92.374

122.018

129.244

Net worth

97.624

127.268

134.494

 

 

 

 

long-term borrowings

1.600

1.783

0.419

Short term borrowings

97.774

254.523

375.995

Total borrowings

99.374

256.306

376.414

Debt/Equity ratio

1.018

2.014

2.799

 

 

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2011

31.03.2012

31.03.2013

 

(Rs. In Millions)

(Rs. In Millions)

(Rs. In Millions)

Sales

1936.727

2587.355

2170.691

 

 

33.594

(16.104)

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2011

31.03.2012

31.03.2013

 

(Rs. In Millions)

(Rs. In Millions)

(Rs. In Millions)

Sales

1936.727

2587.355

2170.691

Profit

22.387

28.056

7.224

 

1.16%

1.08%

0.33%

 

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

 

Sr. No.

Check List by Info Agents

Available in Report (Yes / No)

1]

Year of Establishment

Yes

2]

Locality of the firm

Yes

3]

Constitutions of the firm

Yes

4]

Premises details

No

5]

Type of Business

Yes

6]

Line of Business

Yes

7]

Promoter's background

Yes

8]

No. of employees

No

9]

Name of person contacted

Yes

10]

Designation of contact person

Yes

11]

Turnover of firm for last three years

Yes

12]

Profitability for last three years

Yes

13]

Reasons for variation <> 20%

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

14]

Estimation for coming financial year

No

15]

Capital in the business

Yes

16]

Details of sister concerns

Yes

17]

Major suppliers

No

18]

Major customers

No

19]

Payments terms

No

20]

Export / Import details (if applicable)

No

21]

Market information

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

22]

Litigations that the firm / promoter involved in

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

23]

Banking Details

Yes

24]

Banking facility details

Yes

25]

Conduct of the banking account

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

26]

Buyer visit details

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

27]

Financials, if provided

Yes

28]

Incorporation details, if applicable

Yes

29]

Last accounts filed at ROC

No

30]

Major Shareholders, if available

Yes

31]

Date of Birth of Proprietor/Partner/Director, if available

Yes

32]

PAN of Proprietor/Partner/Director, if available

No

33]

Voter ID No of Proprietor/Partner/Director, if available

No

34]

External Agency Rating, if available

Yes

 

 

UNSECURED LOAN

(Rs. In Millions)

Particular

As on

31.03.2013

As on

31.03.2012

Short Term Borrowing

 

 

Working capital loans from banks

192.120

105.306

Total

192.120

105.306

 

BUSINESS OPERATIONS

 

The Company’s business is sales, service and repair of JCB machines and equipments including sale of spare parts operated from 26 Branches, 4 Workshops and 3 Parts Warehouses covering all the 14 Districts in Kerala State. Productivity of the company has been considerably increased due to daily monitoring system of functioning of all the branches and workshops.

 

PLANNING FOR THE FUTURE

 

The expansion programme initiated earlier has enabled the Company to cater the increased demand and the Company is proceeding further expansion of production capacity of workshops and service centers. As at present the company has engaged experienced and trained service team, Parts Officers, Sales Engineers and Administrative Staff. Accordingly Company’s growth is expected to be 20-25 percent per year. With a view to achieve this progress the company has disinvested on 22.03.2013 its investments in all the three subsidiary companies which were incurring loss year after year. So that with effect from the said date the company ceased to be a holding company.

 

INDEX OF CHARGES

 

S.No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10532206

25/11/2014

148,613,414.78

JCB INDIA LIMITED

B-1 / I-1, 2nd Floor,, Mohan Co-operative Industrial Estate, Mathura Road, New Delhi, Delhi - 110044, INDIA

C34229625

2

10285247

13/12/2012 *

100,000,000.00

INDUSIND BANK LIMITED

2401 GEN THIMMAYYA ROAD, CONTONMENT, PUNE, Maharashtra - 411001, INDIA

B66397290

3

10106500

01/03/2006

4,592,000.00

SREI INFRASTRUCTURE FINANCE LIMITED

VISWAKARMA,86 C,TOPSIA ROAD(SOUTH), KOLKOTHA, West Bengal - 700046, INDIA

A00403055

4

90022532

29/03/2000

4,100,000.00

CENTRAL BANK OF INDIA

M G ROAD, COCHIN, Kerala - 682035, INDIA

-

5

90020913

25/05/2013 *

190,000,000.00

CENTRAL BANK OF INDIA

NARAYANAN CENTRE, MG ROAD, NORTH END, ERNAKULAM, KOCHI, Kerala - 682035, INDIA

B79507430

6

90021758

30/10/1987

126,880.00

M/S INTEGRATED FINANCE COMPANY LIMITED

3RD FLOOR ANEPAL BUILDING, 637/0-3 BANERJEE ROAD, 
COCHIN, Kerala - 682013, INDIA

-

 

 

* Date of charge modification

 

 

FIXED ASSETS

 

·         Factory building

·         Plant and equipment

·         Furniture and fixtures

·         Vehicles

·         Office equipment

·         Computer equipments

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.61.73

UK Pound

1

Rs.92.71

Euro

1

Rs.69.94

 

 

INFORMATION DETAILS

 

Analysis Done by :

RSM

 

 

Report Prepared by :

JYTK

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILIRY

1~10

3

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--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

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

44

 

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.