MIRA INFORM REPORT
|
Report No. : |
307330 |
|
Report Date : |
10.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
NOVA FLEXIPACK PRIVATE LIMITED (w.e.f. 07.12.2004) |
|
|
|
|
Formerly Known
As : |
NOVA FLEXIPACK LIMITED |
|
|
|
|
Registered
Office : |
139, Seksaria
Chambers, 3rd Floor, Nagindas Master Road, Mumbai – 400
023, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
08.09.1995 |
|
|
|
|
Com. Reg. No.: |
11-092509 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.11.485
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25209MH1995PTC092509 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMN05541E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACN3161C |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
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|
Line of Business
: |
Manufacturer of Multilayer Films for Flexible Packaging. |
|
|
|
|
No. of Employees
: |
Information declined by the Management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
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 |
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|
Litigation : |
Clear |
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|
Comments : |
Subject is an established company having a moderate track record. The company has incurred a loss during 2014. However, general
financial position of the company seems to be decent. Trade relations are reported as fair. Business is active. Payment
terms are slow but correct. The company can be considered for business dealings with some
caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
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
31-03-2014.
INFORMATION DECLINED BY
|
Name : |
Mr. Parekh |
|
Designation : |
Accountant |
|
Contact No.: |
91-22-22673455 |
|
Date : |
09.02.2015 |
LOCATIONS
|
Registered Office : |
139, Seksaria Chambers,
3rd Floor, Nagindas Master Road, Mumbai – 400
023, Maharashtra, India |
|
Tel. No.: |
91-22-22673455-56 |
|
Fax No.: |
91-22-22671612 |
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E-Mail : |
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|
Website : |
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|
Location : |
Owned |
|
|
|
|
Factory : |
Plot Nos.H-11 and H-12, O.I.D.C. Udyognagar, Ringanwada, Daman – 396
215, Union Territory of Daman and Diu, India |
|
Tel. No.: |
91-260-2242325/ 2242326 |
|
Fax No.: |
91-260-2244425 |
|
Email : |
|
|
Location : |
Rented |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Paresh Virendra Kothari |
|
Designation : |
Director |
|
Address : |
B-205, Simla House, Nepean Sea Road, Mumbai – 400 036, Maharashtra,
India |
|
Date of Birth/Age : |
03.11.1944 |
|
Date of Appointment : |
07.12.2004 |
|
DIN No.: |
00267104 |
|
|
|
|
Name : |
Mr. Vishwabhushan Kedarnath Tandon |
|
Designation : |
Director |
|
Address : |
7/206, Laxmi Court, Wadala, Mumbai – 400 031, Maharashtra, India |
|
Date of Birth/Age : |
26.03.1959 |
|
Date of Appointment : |
07.12.2004 |
|
DIN No.: |
00222972 |
|
|
|
|
Name : |
Mr. Vijay Kantilal Thanawala |
|
Designation : |
Director |
|
Address : |
304-A, Deep Jyoti Apartment, Veer Savarkar Marg, Naupada, Thane – 400
602, Maharashtra, India |
|
Date of Birth/Age : |
24.04.1947 |
|
Date of Appointment : |
07.12.2004 |
|
DIN No.: |
00001974 |
|
|
|
|
Name : |
Mr. Nehal Paresh Kothari |
|
Designation : |
Director |
|
Address : |
B-205, Simla House, Nepean Sea Road, Mumbai – 400 036, Maharashtra,
India |
|
Date of Birth/Age : |
08.09.1970 |
|
Date of Appointment : |
07.12.2004 |
|
DIN No.: |
00267192 |
|
|
|
|
Name : |
Mr. Hiren Ajit Vora |
|
Designation : |
Director |
|
Address : |
Birla Mansion, 3rd Floor, Prarthana Samaj, Mumbai – 400
004, Maharashtra, India |
|
Date of Birth/Age : |
01.10.1972 |
|
Date of Appointment : |
01.02.2002 |
|
DIN No.: |
00037810 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Paresh Virendra Kothari jointly with Kalpana Paresh Kothari |
|
205010 |
|
Nehal Paresh Kothari jointly with Paresh Virendra Kothari |
|
140010 |
|
Kalpana Paresh Kothari jointly with Paresh Virendra Kothari |
|
214570 |
|
Jyotsna Vijay Thanawala jointly with Vijay Kantilal Thanawala |
|
42510 |
|
Vijay Kantilal Thanawala jointly with Jyotsna Vijay Thanawala |
|
20500 |
|
Vishwabhushan Kedarnath Tandon jointly with Rachna Vishwabhushan
Tandon |
|
20510 |
|
Rachna Vishwabhushan Tandon jointly with Vishwabhushan Kedarnath
Tandon |
|
30010 |
|
Thanawala Consultancy Private Limited, India |
|
172400 |
|
Pitamaha Investment and Finance Private Limited, India |
|
148000 |
|
Nimisha Vijay Thanawala jointly with Vijay Kantilal Thanawala |
|
5000 |
|
V.K. Tandon (HUF) |
|
10000 |
|
Sejal Parag Sanghvi jointly with Paresh Virendra Kothari |
|
80000 |
|
V.K. Thnanawala (HUF) |
|
60000 |
|
Total |
|
1148520 |
AS ON 30.09.2014
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
14.85 |
|
Directors
or relatives of directors |
|
35.65 |
|
Other
top fifty shareholders |
|
49.50 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Multilayer Films for Flexible Packaging. |
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Products : |
Multilayer Films |
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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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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
J.M. Doshi and Company Chartered Accountants |
|
Address : |
112/21, Piparwala Building, V.V. Chandan Street, Vadgadi, Masjid
(West), Mumbai – 400 003, Maharashtra, India |
|
Tel. No. : |
91-22-23402390 |
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PAN
No.: |
AABPD6129Q |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1148520 |
Equity Shares |
Rs.10/- each |
Rs.11.485 millions
|
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
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 |
11.485 |
11.485 |
11.485 |
|
(b) Reserves & Surplus |
20.698 |
21.179 |
31.169 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
5.561 |
5.561 |
5.561 |
|
Total
Shareholders’ Funds (1) + (2) |
37.744 |
38.225 |
48.215 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
3.463 |
7.840 |
5.693 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(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) |
3.463 |
7.840 |
5.693 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
0.000 |
29.285 |
|
(b)
Trade payables |
0.669 |
0.800 |
9.316 |
|
(c)
Other current liabilities |
0.022 |
0.147 |
0.326 |
|
(d)
Short-term provisions |
0.418 |
0.726 |
3.432 |
|
Total
Current Liabilities (4) |
1.109 |
1.673 |
42.359 |
|
|
|
|
|
|
TOTAL |
42.316 |
47.738 |
96.267 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
16.092 |
17.395 |
26.270 |
|
(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 |
10.391 |
12.258 |
3.735 |
|
(c) Deferred tax assets
(net) |
3.386 |
3.325 |
3.135 |
|
(d) Long-term Loan and
Advances |
0.370 |
0.193 |
7.930 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
30.239 |
33.171 |
41.070 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
0.000 |
1.180 |
6.325 |
|
(c)
Trade receivables |
5.285 |
5.283 |
36.826 |
|
(d)
Cash and cash equivalents |
3.052 |
6.179 |
9.411 |
|
(e)
Short-term loans and advances |
3.740 |
1.925 |
2.635 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
12.077 |
14.567 |
55.197 |
|
|
|
|
|
|
TOTAL |
42.316 |
47.738 |
96.267 |
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 |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(0.481) |
(9.991) |
1.306 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
21.178 |
31.169 |
29.863 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
20.697 |
21.178 |
31.169 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
0.42 |
(8.70) |
1.14 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.09 |
0.21 |
0.73 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
10.89 |
8.71 |
1.30 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(INR in Mlns.) |
(INR in Mlns.) |
(INR in Mlns.) |
|
Share Capital |
11.485 |
11.485 |
11.485 |
|
Reserves & Surplus |
31.169 |
21.179 |
20.698 |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
5.561 |
5.561 |
5.561 |
|
Net worth |
48.215 |
38.225 |
37.744 |
|
|
|
|
|
|
Long Term borrowings |
5.693 |
7.840 |
3.463 |
|
Short Term borrowings |
29.285 |
0.000 |
0.000 |
|
Total borrowings |
34.978 |
7.840 |
3.463 |
|
Debt/Equity ratio |
0.725 |
0.205 |
0.092 |
LOCAL AGENCY FURTHER INFORMATION
NOTE: Current
Maturities of Long Term Debts is Not Available.
|
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 |
No |
|
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 |
No |
|
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 |
Yes |
|
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 |
No |
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Term Loan |
|
|
|
Others |
|
|
|
From Related
Parties (The installment following
due within 12 months after report date is Nil as terms of repayment are not
pre-determined) |
2.818 |
3.180 |
|
Total |
2.818 |
3.180 |
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10487312 |
28/09/2012 |
22,500,000.00 |
THE SARASWAT CO-OPERATIVE
BANK LIMITED |
SME NARIMAN POINT BRANCH,
MITTAL COURT A WING, 1ST FLOOR, VIDHAN BHAVAN MARG, NARIMAN POINT,
MUMBAI, MAHARASHTRA - 400021, INDIA |
B94784451 |
|
2 |
90158095 |
05/12/2007 * |
5,000,000.00 |
THE SARASWAT CO-OPERATIVE
BANK LIMITED |
MASJID BUNDER BRANCH,
MASJID BUNDER, MUMBAI, MAHARASHTRA - 400003, INDIA |
A29239480 |
|
3 |
90157827 |
19/04/2007 * |
17,000,000.00 |
THE SARASWAT CO-OPERATIVE
BANK LIMITED |
MASJID BUNDER BRANCH,
MUMBAI, MAHARASHTRA - 400003, INDIA |
- |
|
4 |
90157184 |
31/05/1999 |
629,000.00 |
THE SARASWAT CO-OPERATIVE
BANK LIMITED |
MASJID BUNDER, MUMBAI,
MAHARASHTRA - 400003, INDIA |
- |
|
5 |
90156865 |
05/05/1998 |
3,000,000.00 |
THE SARASWAT CO-OPERATIVE
BANK LIMITED |
CENTRAL ADMINISTRATIVE
OFFICE, ASPARA CINEMA BUILDING; 2ND FLOOR; GRANT ROAD, MUMBAI, MAHARASHTRA -
400007, INDIA |
- |
|
6 |
90156752 |
01/01/1998 |
500,000.00 |
THE SARASWAT CO-OPERATIVE
BANK LIMITED |
CENTRAL ADMINISTRATIVE
OFFICE, ASPARA CINEMA BUILDING; 2ND FLOOR; GRANT ROAD, MUMBAI, MAHARASHTRA -
400007, INDIA |
- |
|
7 |
90155056 |
20/10/2009 * |
26,200,000.00 |
THE SARASWAT CO-OPERATIVE
BANK LIMITED |
PRAGRAJ , 80 / 82, ISSAJI
STREET,, MASJID BUNDER, MUMBAI, MAHARASHTRA - 400003, INDIA |
B30667646 |
|
8 |
90156566 |
12/11/2008 * |
18,000,000.00 |
THE SARASWAT CO-OPERATIVE
BANK LIMITED |
MASJID BUNDER BRANCH,
MUMBAI, MAHARASHTRA - 400003, INDIA |
A50082718 |
* Date of charge modification
FIXED ASSETS:
·
Air Conditioner
·
Vehicles
·
Furniture and Fixture
·
Refrigerator
·
Office Equipment
·
Computers
·
Electrical Installation
·
Machinery
·
Land
·
Staff Quarters
·
Building
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON DESIGNATED
PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals have
been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report : No
press reports / filings exists on the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.14 |
|
|
1 |
Rs.94.79 |
|
Euro |
1 |
Rs.70.38 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
-- PROFITABILITY |
1~10 |
2 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
28 |
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.