MIRA INFORM REPORT
|
Report No. : |
305684 |
|
Report Date : |
10.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
RAI SAHEB REKH CHAND MOHOTA SPG AND WVG MILLS LIMITED |
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|
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Registered
Office : |
Block No.15, 3rd Floor, Gate No.2, Devkaran Mansion, 63, Princes
Street, Mumbai – 400 002, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
10.10.1946 |
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Com. Reg. No.: |
11-005261 |
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Capital
Investment / Paid-up Capital : |
Rs.154.856 millions |
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CIN No.: [Company Identification
No.] |
L99999MH1946PLC005261 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Manufacturer of Cotton, Polyester, Viscose Yarn and
Fabric. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (34) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. The rating is constrained on account of company’s moderate financial risk
profile and low profitability margins of the company. However, trade relations are fair. Business is active. Payments are
reported to be slow but correct. The company can be considered for business dealing 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.
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 = B (Suspended) |
|
Rating Explanation |
Risk prone credit quality and carries very
high risk. |
|
Date |
19.12.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = A4 (Suspended) |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
19.12.2014 |
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.
LOCATIONS
|
Registered Office: |
Block No.15, 3rd Floor, Gate No.2, Devkaran Mansion, 63,
Princes Street, Mumbai – 400 002, Maharashtra, India |
|
Tel. No.: |
91-22-32577214 / 22084711 |
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Fax No.: |
91-22-22081556 |
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E-Mail : |
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Website : |
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Corporate Office/ Factory 1: |
Ram Mandir Ward, Post Box No.1, Hinganghat, District Wardha – 442 301, Maharashtra, India |
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Tel. No.: |
91-7153-244282/ 244039 |
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Fax No.: |
91-7153-244753 |
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Factory 2 : |
Village Burkoni, Tehsil Hinganghat, District Wardha, Maharashtra,
India |
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Export Office: |
309, ACME Plaza, 3rd Floor Andheri Kurla Road, Andheri (East),
Mumbai – 400 059, Maharashtra, India |
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Tel. No.: |
91-22-28388571 |
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Fax No.: |
91-22-28388572 |
DIRECTORS
AS ON 31.03.2014
|
Name : |
Dr. Ranchhoddas Mathuradas Mohota |
|
Designation : |
Chairman |
|
Address : |
Ram Mandir Ward, Hinganghat, District-Wardha(M.S.), Hinganghat – 422
301, India |
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Date of Birth/Age : |
17.01.1936 |
|
Date of Appointment : |
10.08.2006 |
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DIN No.: |
00247357 |
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Name : |
Mr. Vinod Kumar Mohota |
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Designation : |
Managing Director |
|
Address : |
Ram Mandir Ward, Hinganghat, District-Wardha(M.S.), Hinganghat – 422
301, India |
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Date of Birth/Age : |
27.10.1961 |
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Date of Appointment : |
16.08.1994 |
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DIN No.: |
00247348 |
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Name : |
Mr. Vinay Kumar Mohota |
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Designation : |
Whole-time Director |
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Address : |
Ram Mandir Ward, Hinganghat, District-Wardha(M.S.), Hinganghat – 422
301, India |
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Date of Birth/Age : |
06.09.1967 |
|
Date of Appointment : |
01.04.2011 |
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DIN No.: |
00247340 |
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Name : |
Mr. Shantilal Binjraj Singhvi |
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Designation : |
Whole-time Director |
|
Address : |
Ram Mandir Ward, Hinganghat, District-Wardha(M.S.), Hinganghat – 422
301, India |
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Date of Birth/Age : |
20.03.1937 |
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Date of Appointment : |
01.04.2011 |
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DIN No.: |
00247332 |
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Name : |
Mr. Girdharlal Gangabisan Singhee |
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Designation : |
Director |
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Address : |
Singhee Sadan, Gandhi Sagar (East), Nagpur, Maharashtra, India |
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Date of Birth/Age : |
02.11.1934 |
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Date of Appointment : |
23.09.2002 |
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DIN No.: |
01479800 |
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Name : |
Mr. Pavan Poddar |
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Designation : |
Director |
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Name : |
Mr. Suresh Rathi |
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Designation : |
Director |
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Address : |
42, Hindustan Colony, Ajani Square, Wardha Road, Nagpur – 440 015,
Maharashtra, India |
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Date of Birth/Age : |
19.01.1959 |
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Date of Appointment : |
27.09.2008 |
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DIN No.: |
00474117 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.12.2014
|
Category of Shareholders |
No. of Shares |
Percentage of
holding |
|
(A)
Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
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|
3092211 |
24.73 |
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|
4373631 |
34.97 |
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|
7465842 |
59.70 |
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|
|
|
|
Total
shareholding of Promoter and Promoter Group (A) |
7465842 |
59.70 |
|
(B)
Public Shareholding |
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|
2159289 |
17.27 |
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Individual
shareholders holding nominal share capital up to Rs.0.100 million |
536890 |
4.29 |
|
Individual
shareholders holding nominal share capital in excess of Rs.0.100 million |
2343269 |
18.74 |
|
|
5039448 |
40.30 |
|
Total
Public shareholding (B) |
5039448 |
40.30 |
|
Total
(A)+(B) |
12505290 |
100.00 |
|
(C)
Shares held by Custodians and against which Depository Receipts have been
issued |
0 |
0.00 |
|
|
0 |
0.00 |
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|
0 |
0.00 |
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|
0 |
0.00 |
|
Total
(A)+(B)+(C) |
12505290 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Cotton, Polyester, Viscose Yarn and
Fabric. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
Not Available |
PRODUCTION STATUS – NOT
AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
Bank of India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Batliboi and Purohit Chartered Accountants |
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Address : |
National Insurance Building, 2nd Floor, Fort, Mumbai – 400
001, Maharashtra, India |
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PAN
No.: |
AAAFB0915F |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Other Related Parties : |
M/s Veenadevi and Swatidevi Mohota |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs.150.000 millions |
|
300000 |
Non-Cumulative Redeemable Preference Shares |
Rs.100/- each |
Rs.30.000 millions |
|
|
|
|
Rs.180.000
millions |
|
|
|
|
|
Issued and Subscribed Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
12505290 |
Equity Shares |
Rs.10/- each |
Rs.125.053 millions |
|
236000 |
10% Non-Cumulative Redeemable Preference Shares |
Rs.100/- each |
Rs.23.600 millions |
|
60000 |
8% Non-Cumulative Redeemable Preference Shares |
|
Rs.6.000 millions |
|
|
Total
|
|
Rs.154.653
millions |
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|
|
|
|
Subscribed and Fully Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
12505290 |
Equity Shares |
Rs.10/- each |
Rs.125.053 millions |
|
236000 |
10% Non-Cumulative Redeemable Preference Shares |
Rs.100/- each |
Rs.23.600 millions |
|
60000 |
8% Non-Cumulative Redeemable Preference Shares |
|
Rs.6.000 millions |
|
|
Subscribed but not fully paid-up |
|
|
|
3700 |
Equity Shares of Rs.10/- each with voting rights (Calls in arrears) |
|
(Rs.0.019 million) |
|
36000 |
Equity Shares of Rs.10/- each with voting rights (Forfeited Shares) |
|
Rs.0.222 million |
|
|
Total
|
|
Rs.154.856
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 |
154.856 |
71.487 |
71.487 |
|
(b) Reserves & Surplus |
209.104 |
234.961 |
198.970 |
|
(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) |
363.960 |
306.448 |
270.457 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
285.250 |
366.949 |
472.293 |
|
(b) Deferred tax liabilities (Net) |
40.371 |
41.833 |
41.030 |
|
(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) |
325.621 |
408.782 |
513.323 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
454.919 |
428.030 |
404.016 |
|
(b) Trade
payables |
194.784 |
205.525 |
297.916 |
|
(c) Other
current liabilities |
150.141 |
149.334 |
110.667 |
|
(d) Short-term
provisions |
23.192 |
14.918 |
12.280 |
|
Total Current
Liabilities (4) |
823.036 |
797.807 |
824.879 |
|
|
|
|
|
|
TOTAL |
1512.617 |
1513.037 |
1608.659 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
475.329 |
512.041 |
560.028 |
|
(ii)
Intangible Assets |
2.268 |
2.267 |
2.267 |
|
(iii)
Capital work-in-progress |
1.179 |
8.249 |
10.419 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
4.512 |
8.311 |
9.569 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
18.279 |
54.787 |
48.532 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
2.144 |
|
Total Non-Current
Assets |
501.567 |
585.655 |
632.959 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
499.215 |
362.703 |
509.577 |
|
(c) Trade
receivables |
350.642 |
427.127 |
336.222 |
|
(d) Cash
and cash equivalents |
14.153 |
18.825 |
44.577 |
|
(e)
Short-term loans and advances |
147.040 |
118.727 |
85.324 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
1011.050 |
927.382 |
975.700 |
|
|
|
|
|
|
TOTAL |
1512.617 |
1513.037 |
1608.659 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
2827.413 |
2516.200 |
2270.609 |
|
|
|
Other Income |
3.873 |
5.667 |
9.358 |
|
|
|
TOTAL |
2831.286 |
2521.867 |
2279.967 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
1441.108 |
1209.927 |
1220.021 |
|
|
|
Purchases of stock-in-trade |
785.404 |
624.667 |
533.992 |
|
|
|
Changes in inventories of finished goods and work-in-progress |
(38.474) |
69.092 |
(15.892) |
|
|
|
Employee benefit expense |
200.010 |
188.221 |
176.637 |
|
|
|
Other expenses |
282.623 |
280.203 |
262.710 |
|
|
|
Prior years adjustments |
0.000 |
0.000 |
(10.339) |
|
|
|
TOTAL |
2670.671 |
2372.110 |
2167.129 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
160.615 |
149.757 |
112.838 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
102.469 |
101.732 |
97.548 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
58.146 |
48.025 |
15.290 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
41.975 |
45.549 |
49.586 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
16.171 |
2.476 |
(34.296) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1.773 |
1.214 |
(7.129) |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
14.398 |
1.262 |
(27.167) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Manufacturing Export |
9.388 |
18.714 |
46.572 |
|
|
|
Trading Export |
812.324 |
477.480 |
561.206 |
|
|
TOTAL EARNINGS |
821.712 |
496.194 |
607.778 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Stores, Spares, Dyes and Chemicals |
2.806 |
3.307 |
3.881 |
|
|
|
Capital Goods |
1.120 |
0.990 |
8.070 |
|
|
TOTAL IMPORTS |
3.926 |
4.297 |
11.951 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
0.92 |
0.10 |
(6.52) |
|
QUARTERLY RESULTS
|
PARTICULARS |
|
30.06.2014 |
30.09.2014 |
|
Unaudited |
|
1st
Quarter |
2nd
Quarter |
|
Net
Sales |
|
477.600 |
668.200 |
|
Total
Expenditure |
|
441.600 |
630.200 |
|
PBIDT
(Excl OI) |
|
36.000 |
38.000 |
|
Other
Income |
|
0.000 |
2.900 |
|
Operating
Profit |
|
36.000 |
40.900 |
|
Interest |
|
23.700 |
26.900 |
|
Exceptional
Items |
|
0.000 |
0.000 |
|
PBDT |
|
12.300 |
14.000 |
|
Depreciation |
|
10.500 |
10.600 |
|
Profit
Before Tax |
|
1.800 |
3.400 |
|
Tax |
|
0.000 |
0.000 |
|
Provisions
and contingencies |
|
0.000 |
0.000 |
|
Profit
After Tax |
|
1.800 |
3.400 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
0.51 |
0.05 |
(1.20) |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/ Sales) |
(%) |
5.68 |
5.95 |
4.97 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.07 |
0.17 |
(2.16) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04 |
0.01 |
(0.13) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.03 |
2.59 |
3.24 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.23 |
1.16 |
1.18 |
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 |
71.487 |
71.487 |
154.856 |
|
Reserves & Surplus |
198.970 |
234.961 |
209.104 |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
270.457 |
306.448 |
363.960 |
|
|
|
|
|
|
Long Term borrowings |
472.293 |
366.949 |
285.250 |
|
Short Term borrowings |
404.016 |
428.030 |
454.919 |
|
Total borrowings |
876.309 |
794.979 |
740.169 |
|
Debt/Equity ratio |
3.240 |
2.594 |
2.034 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Revenue from Operations |
2,270.609 |
2,516.200 |
2,827.413 |
|
|
|
10.816 |
12.368 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Revenue from Operations |
2,270.609 |
2,516.200 |
2,827.413 |
|
Profit |
(27.167) |
1.262 |
14.398 |
|
|
(1.20%) |
0.05% |
0.51% |
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 |
No |
|
10] |
Designation of contact
person |
No |
|
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 |
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 |
Yes |
OPERATIONS
During the financial year, the Company's turnover has increased to Rs.2831.288 millions from Rs.2521.866 millions in the corresponding previous year mainly on account of increase in export demand of yarn. Company has generated net profit (after tax) of Rs.14.398 millions in the current financial Year.
EXPORTS
The Company's export during the year calculated on FOB basis amounted to Rs.821.700 millions as against Rs.496.200 millions in the immediately preceding year, registering increase in sale by 65.59% due to high demand of yarn in international market.
CURRENTAND FUTURE
OUTLOOK
According to the latest estimate, Indian economy grew by 4.70% in F.Y. 2014. Despite a good monsoon, the manufacturing indices had declined, commodity prices stayed at high levels and food inflation reached an all-time high, which resulted in sustained CPI inflation of over 10% in the last financial year. The Rupee depreciated significantly before retracting in the latter half of the year. Consumer sentiments remained subdued for most part of F.Y. 2014. However, the slow GDP growth appears to have bottomed out and post elections, economic activity is expected to pick up from the second quarter F.Y. 2015.
MODERNISATION /
EXPANSION
The Company has incurred capital expenditure of Rs.9.598 millions on Factory Building, Plant and, Machinery and Modernization / upgradation of Hinganghatand Burkoni Unit.
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Short Term Loan from Others |
80.000 |
70.460 |
|
Sales tax deferral loan from SICON |
45.854 |
51.518 |
|
LIC against Key Man Insurance Policy |
6.519 |
6.519 |
|
Deposits |
|
|
|
Agent’s Deposit and Security Deposit |
5.049 |
4.817 |
|
Total |
137.422 |
133.314 |
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10513530 |
29/05/2014 |
30,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH (ADVANCES),
N.G.N. VAIDYA MARG, |
C15452303 |
|
2 |
10419010 |
27/02/2013 |
40,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH
(ADVANCES), N.G.N. VAIDYA MARG, |
B72978430 |
|
3 |
10115638 |
15/07/2008 |
50,000,000.00 |
BANK OF INDIA |
NAGPUR CORPORATE BANKING
BRANCH, KINGSWAY, PATEL |
A42946947 |
|
4 |
10061180 |
11/06/2007 |
230,000,000.00 |
BANK OF INDIA |
NAGPUR CORPORATE BANKING
BRANCH, KINGSWAY, S. V. |
A19293844 |
|
5 |
10061280 |
26/06/2009 * |
237,600,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH (ADVANCES),
N.G.N. VAIDYA MARG, |
A67796417 |
|
6 |
10043138 |
02/02/2007 |
30,000,000.00 |
BANK OF BARODA |
MAHAL BRANCH,, MAHAL,
NAPGUR, MAHARASHTRA - 44000 |
A12838199 |
|
7 |
10015074 |
26/06/2009 * |
57,700,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH
(ADVANCES), N.G.N. VAIDYA MARG, |
A67797068 |
|
8 |
10007526 |
26/09/2008 * |
55,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH , NGN
VAIDYA MARG,, MUMBAI, MAHA |
A50589431 |
|
9 |
80055463 |
26/06/2009 * |
80,625,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH
(ADVANCES), N.G.N. VAIDYA MARG, |
A67948844 |
|
10 |
90218575 |
29/06/2004 * |
90,400,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, G. N.
VAIDYA MARG, MUMBAI, MAH |
- |
|
11 |
90218566 |
29/06/2004 * |
100,000,000.00 |
BANK OF INDIA |
NAGPUR CORPORATE BANKING
BRANCH, NAGPUR, MAHARASHT |
- |
|
12 |
90218439 |
29/01/2002 |
25,000,000.00 |
BANK OF INDIA |
NAGPUR CORPORATE BANKKING
BRANCH, KING WAY, NAGPU |
- |
|
13 |
90218297 |
22/02/2000 * |
600,000,000.00 |
INDUSTRIAL DEVELOPMENT
BANK OF INDIA |
IDBI TOWER; WTCD COMPLEX,
COLABA, MUMBAI, MAHARAS |
- |
|
14 |
90218251 |
24/09/2013 * |
505,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH
(ADVANCES), N.G.N. VAIDYA MARG, |
B87098828 |
|
15 |
90218142 |
22/02/2000 * |
75,000,000.00 |
BANK OF INDIA |
NAGPUR CORPORATE BANKKING
BRANCH, KING WAY, NAGPU |
- |
|
16 |
90218065 |
31/07/1997 * |
100,000,000.00 |
INDUSTRIAL DEVELOPMENT
BANK OF INDIA |
IDBI TOWER; CUFFE PARADE,
COLABA, BAMBAY, MAHARAS |
- |
|
17 |
90216239 |
09/12/1996 |
10,000,000.00 |
GIC HOUSING FINANCE
LIMITED |
UNIVERSAL INSURANCE BLDG.
3RD FLOOR, SIR P. M. RO |
- |
|
18 |
90217864 |
31/07/1997 * |
600,000,000.00 |
INDUSTRIAL DEVELOPMENT
BANK OF INDIA |
IDBI TOWER; WTCD COMPLEX,
COLABA, MUMBAI, MAHARAS |
- |
|
19 |
90219597 |
18/03/1994 |
10,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, JUSTICE
G. N. VAIDYA MARG, BOM |
- |
|
20 |
90217574 |
22/05/1995 * |
83,500,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH,
JUSTICE G. N. VAIDLYA MARG, BO |
- |
|
21 |
90219540 |
17/10/1994 * |
83,500,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH,
JUSTICE G. N. VAIDYA MARG, BOM |
- |
|
22 |
90219500 |
17/12/1990 * |
27,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, JUSTICE
G. N. VAIDLYA MARG, BO |
- |
|
23 |
90216156 |
22/02/2000 * |
52,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH,
JASTICE G. N. VAIDYA MARG, MUM |
- |
|
24 |
90217414 |
17/12/1990 * |
15,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH,
JUSTICE G. N. VAIDLYA MARG, BO |
- |
|
25 |
90219490 |
29/06/1990 * |
24,500,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, JUSTICE
G. N. VAIDLYA MARG, BO |
- |
|
26 |
90217241 |
13/08/1990 * |
8,700,000.00 |
INDUSTRIAL DEVELOPMENT
BANK OF INDIA |
IDBI TOWER; CUFFE PARADE,
COLABA, BAMBAY, MAHARAS |
- |
|
27 |
90217216 |
07/04/1988 |
21,500,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH,
JASTICE G. N. VAIDYA MARG, MUM |
- |
|
28 |
90218848 |
07/04/1988 * |
21,500,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, JASTICE
G. N. VAIDYA MARG, MUM |
- |
|
29 |
90217214 |
06/04/1988 |
4,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH,
JASTICE G. N. VAIDYA MARG, MUM |
- |
|
30 |
90217064 |
13/08/1990 * |
9,200,000.00 |
INDUSTRIAL DEVELOPMENT
BANK OF INDIA |
IDBI TOWER; CUFFE PARADE,
COLABA, BOMBAY, MAHARAS |
- |
|
31 |
90217051 |
02/05/1986 |
900,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, BOMBAY,
MAHARASHTRA - 400023, I |
- |
|
32 |
90219383 |
18/02/1986 * |
21,500,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH,
MUMBAI, MAHARASHTRA - 400023, I |
- |
|
33 |
90216985 |
13/02/1986 * |
1,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH,
MUMBAI, MAHARASHTRA - 400023, I |
- |
|
34 |
90219372 |
20/05/1985 * |
14,500,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH,
JUSTICE G. N. VAIDLYA MARG, BO |
- |
|
35 |
90216954 |
17/11/1984 |
407,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH,
MUMBAI, MAHARASHTRA - 400023, I |
- |
|
36 |
90218772 |
08/05/1984 |
2,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH,
MUMBAI, MAHARASHTRA - 400023, I |
- |
|
37 |
90216926 |
08/05/1984 |
10,500,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH,
BOMBAY, MAHARASHTRA - 400023, I |
- |
|
38 |
90219345 |
08/05/1984 * |
10,500,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH,
BOMBAY, MAHARASHTRA - 400023, I |
- |
|
39 |
90216119 |
09/01/1984 |
7,484,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH,
BOMBAY, MAHARASHTRA - 400023, I |
- |
|
40 |
90216851 |
13/08/1990 * |
11,500,000.00 |
INDUSTRIAL DEVELOPMENT
BANK OF INDIA |
IDBI TOWER, CUFFE PARADE,
MUMBAI, MAHARASHTRA - 4 |
- |
|
41 |
90219333 |
14/03/1983 |
3,617,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, BANK
STREET, BOMBAY, MAHARASHT |
- |
|
42 |
90216106 |
17/02/1982 |
7,484,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, BANK STREET,
BOMBAY, MAHARASHT |
- |
|
43 |
90216763 |
07/06/1983 * |
9,500,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, BANK
STREET; FORT, BOMBAY, MAH |
- |
|
44 |
90219312 |
04/09/1981 |
9,500,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, BANK
STREET, MUMBAI, MAHARASHT |
- |
|
45 |
90216746 |
16/06/1981 |
4,800,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, BANK
STREET, MUMBAI, MAHARASHT |
- |
|
46 |
90216693 |
20/03/1980 |
284,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, BANK
STREET, BOMBAY, MAHARASHT |
- |
|
47 |
90216676 |
25/07/1979 |
5,000,000.00 |
INDUSTRIAL DEVELOPMENT
BANK OF INDIA |
JOLLY MAKER CHAMBERS NO. 1,
227; BACKBAY RECLAMAT |
- |
|
48 |
90219290 |
09/01/1984 * |
5,000,000.00 |
INDUSTRIAL DEVELOPMENT
BANK OF INDIA |
NARIMAN BHAVAN; 227,
VINAY K. SHAH MARG; NARIMAN |
- |
|
49 |
90216634 |
20/05/1995 * |
2,500,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH,
JASTICE G. N. VAIDYA MARG, MUM |
- |
|
50 |
90219276 |
07/09/1977 |
6,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL DIVISION, BOMBAY
MAIN BRANCH; MOMBAY S |
- |
|
51 |
90216629 |
01/08/1977 |
1,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL DIVISION,
BOMBAY MAIN BRANCH; BOMBAY S |
- |
|
52 |
90216616 |
29/09/1976 |
1,300,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, BOMBAY
MAIN BRANCH; BOMBAY SAM |
- |
|
53 |
90216591 |
07/10/1975 |
1,127,600.00 |
STATE BANK OF INDIA |
COMMERCIAL DIVISION,
BOMBAY MAIN BRANCH; BOMBAY S |
- |
|
54 |
90216512 |
02/11/1970 |
1,500,000.00 |
STATE BANK OF INDIA |
APOLLO STREET; FORT,
MUMBAI, MAHARASHTRA - 400001, |
- |
* Date of charge modification
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
|
Contingent liability not provided |
|
|
|
- For Bank Guarantee issued |
13.905 |
13.855 |
FINANCIAL RESULTS:
|
Type |
Un-Audited |
Un-Audited |
|
Period
Ending |
30.09.2014 |
30.06.2014 |
|
No.
of Months |
3 |
3 |
|
Description |
Amount (Rs. million) |
|
|
Net Sales / Interest Earned / Operating
Income |
668.200 |
477.600 |
|
Other Income |
2.900 |
0.000 |
|
Expenditure |
(630.200) |
(441.600) |
|
Interest |
(26.900) |
(23.700) |
|
Profit Before Depreciation and Tax |
14.000 |
12.300 |
|
Depreciation |
(10.600) |
(10.500) |
|
Profit before Tax |
3.400 |
1.800 |
|
Tax |
0.000 |
0.000 |
|
Net Profit |
3.400 |
1.800 |
|
Equity Capital |
125.100 |
125.100 |
|
Basic EPS after Extraordinary items |
0.270 |
0.140 |
|
Nos. of Shares - Public |
4250925 |
3773561 |
|
Percent of Shares-Public |
33.99 |
30.18 |
|
Operating Profit Margin |
6.12 |
7.54 |
|
Net Profit Margin |
0.51 |
0.38 |
|
Cash EPS |
1.12 |
0.98 |
Notes:
1. The above results have been reviewed by the Audit Committee and were taken on record by the Board of Directors at its meeting held on November 14, 2014.
2. Company operates in one business segment
namely "Textiles"
3. The figures of the previous periods are
re-classified / re-arranged/ re-grouped wherever necessary, as per the formal
revised by SEB1 in conformity with the amended Schedule VI lo the Companies
Act, 1956.
4. Depreciation's Adjustments of useful life according
to Schedule II of Sec. 123 of the Companies Act, 2013 has not been made.
FIXED ASSETS:
·
Land
·
Factory Building
·
Non Factory Building
·
Plant and Machinery
·
Furniture and Fixtures
·
Vehicles
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
|
Analysis Done by
: |
KAR |
|
|
|
|
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 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
-- PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
34 |
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.