MIRA
INFORM REPORT
|
Report No. : |
307730 |
|
Report Date : |
16.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
NARAYANI ISPAT
PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
23A, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
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Date of
Incorporation : |
03.07.1996 |
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|
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|
Com. Reg. No.: |
21-080314 |
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|
|
Capital
Investment / Paid-up Capital : |
Rs. 82.593 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27109WB1996PTC080314 |
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|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALN02820G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCN1555D |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader and Importer of Iron and Steel Products. |
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|
|
|
No. of Employees
: |
60 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (33) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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|
|
Payment Behaviour : |
Slow but correct |
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|
|
Litigation : |
Clear |
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|
Comments : |
Subject is a part of Narayani Group. It is an established company
having moderate track. Profit Margin of the company appears to be very low during FY
2013-2014. However, trade relations seem to be fair. Business is active. Payment
terms are reported to be 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.
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-“ |
|
Rating Explanation |
Moderate credit quality and high credit risk |
|
Date |
30.05.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = “A4” |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
30.05.2014 |
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.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Bivar Bagariya |
|
Designation : |
Financial Manager |
|
Contact No.: |
91-891-6643653 |
|
Date : |
12.02.2015 |
LOCATIONS
|
Registered Office : |
23A, N.S. Road, 7th Floor, Room – 31, Kolkata – 700001,
West Bengal, India |
|
Tel. No.: |
91-891-6643653 |
|
Mobile No.: |
91-7382602726 (Mr. Bivar Bagariya) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Area : |
500 Sq. ft. |
|
Location : |
Owned |
|
|
|
|
Branch Address : |
D – No. 30-15-138/20, 2nd Floorr, Bunayaka Complex,
Dabagardens Visakhapatnam – 530 020, India
|
|
Tel. No.: |
91-891-6643654 |
|
|
|
|
Warehouse : |
D – 1991, ‘E’ Block, IDA Auto Nagar, Vishakhapatnam – 530017, Andhra
Pradesh, India |
DIRECTORS
As on 30.09.2014
|
Name : |
Mrs. Savitri Devi Choudhary |
|
Designation : |
Director |
|
Address : |
Flat No. 301, D.No.9-29-20/7, Roshan Towers, Balaji Nagar,
Visakhapatnam – 530002, Andhra Pradesh, India |
|
Date of Birth/Age : |
27.09.1944 |
|
Date of Appointment : |
03.07.1996 |
|
PAN No.: |
ACMPC9992M |
|
DIN No.: |
00299574 |
|
|
|
|
Name : |
Mrs. Bina Choudhary |
|
Designation : |
Managing Director |
|
Address : |
Flat No. 301, D.No.9-29-20/7, Roshan Towers, Balaji Nagar, Visakhapatnam
– 530002, Andhra Pradesh, India |
|
Date of Birth/Age : |
19.10.1969 |
|
Date of Appointment : |
01.04.2004 |
|
PAN No.: |
AEZPC3416P |
|
DIN No.: |
00299534 |
|
|
|
|
Name : |
Mr. Sunil Kumar Choudhary |
|
Designation : |
Managing Director |
|
Address : |
Flat No. 301, D.No.9-29-20/7, Roshan Towers, Balaji Nagar,
Visakhapatnam – 530003, Andhra Pradesh, India |
|
Date of Birth/Age : |
04.07.1965 |
|
Date of Appointment : |
01.10.2012 |
|
DIN No.: |
00289479 |
KEY EXECUTIVES
|
Name : |
Mr. Bivar Bagariya |
|
Designation : |
Financial Manager |
MAJOR SHAREHOLDERS
As on 30.09.2014
SHAREHOLDERS DETAILS ATTACHED
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
54.53 |
|
Directors or relatives of Directors |
45.47 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader and Importer of Iron and Steel Products. |
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|
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|
Products : |
Not Available |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
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Products : |
Finished Goods |
|
Countries : |
Srilanka |
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Imports : |
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Products : |
Finished Goods |
|
Countries : |
·
China ·
West Bengal ·
Africa ·
UK ·
Singapore |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Wholesalers, Retailers and
Manufacturer
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No. of Employees : |
60 (Approximately) |
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Bankers : |
·
Indusind Bank Limited, Old No. 115, 116, New No.
34, GN Chetty road, T Nagar, Chennai – 600017, Tamilnadu, India
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Facilities : |
(Rs.
In Millions)
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Auditors : |
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|
Name : |
S. Jayakishan Chartered Accountant |
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Address : |
Suite #20, 2E and 2F 12, Ho-Chi-Minh Sarani |
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PAN No.: |
AASFS4445F |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Sister Concern : |
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Enterprises owned
or significantly influenced by the Key Managerial Personnel or their
relatives: |
· Narayani Steels Private Limited CIN No.:U27109WB1996PTC082021 · Hari Equipments Private Limited CIN No.:U51504WB1971PTC080792 · Kedarnath Commotrade Private Limited CIN No.:U51909WB2009PTC133079 · BINA Chowdary and Hemang Steel Traders, Jamshedpur |
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9000000 |
Equity Shares |
Rs.10/- each |
Rs. 90.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8259300 |
Equity Shares |
Rs.10/- each |
Rs. 82.593
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 |
82.593 |
82.593 |
63.137 |
|
(b) Reserves & Surplus |
193.036 |
191.259 |
130.324 |
|
(c) Money received against
share warrants |
0.000 |
|
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
275.629 |
273.852 |
193.461 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
85.922 |
112.066 |
74.391 |
|
(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 |
0.453 |
0.408 |
0.000 |
|
Total
Non-current Liabilities (3) |
86.375 |
112.474 |
74.391 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
504.687 |
474.958 |
348.405 |
|
(b) Trade payables |
728.970 |
813.895 |
925.175 |
|
(c) Other current liabilities |
38.272 |
56.489 |
165.404 |
|
(d) Short-term provisions |
1.028 |
9.900 |
8.060 |
|
Total
Current Liabilities (4) |
1272.957 |
1355.242 |
1447.044 |
|
|
|
|
|
|
TOTAL |
1634.961 |
1741.568 |
1714.896 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
60.858 |
60.048 |
55.837 |
|
(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 |
36.101 |
28.935 |
19.231 |
|
(c) Deferred tax assets (net) |
0.421 |
0.300 |
0.322 |
|
(d) Long-term Loan and Advances |
10.400 |
8.650 |
25.451 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
107.780 |
97.933 |
100.841 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
358.414 |
411.504 |
451.075 |
|
(c) Trade receivables |
871.418 |
957.393 |
753.549 |
|
(d) Cash and cash equivalents |
152.649 |
79.762 |
51.070 |
|
(e) Short-term loans and
advances |
144.700 |
194.976 |
358.361 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
1527.181 |
1643.635 |
1614.055 |
|
|
|
|
|
|
TOTAL |
1634.961 |
1741.568 |
1714.896 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
|
|
|
|
|
Other Income |
|
|
|
|
|
TOTAL
|
8613.861 |
10409.121 |
8813.593 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
TOTAL
|
8581.969 |
10376.551 |
8787.993 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
31.892 |
32.570 |
25.600 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
2.885 |
2.621 |
2.299 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
29.007 |
29.949 |
23.301 |
|
|
|
|
|
|
|
Less |
Exceptional
Item |
26.327 |
0.000 |
0.000 |
|
|
|
|
|
|
|
Less |
TAX |
0.903 |
9.917 |
7.819 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
1.777 |
20.032 |
15.482 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
8.262 |
3.702 |
0.000 |
|
|
TOTAL
EARNINGS |
8.262 |
3.702 |
0.000 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
0.22 |
2.43 |
2.61 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
0.02 |
0.19 |
0.18 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.81 |
1.75 |
1.37 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.11 |
0.11 |
0.12 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.14 |
2.14 |
2.19 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.20 |
1.21 |
1.12 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
63.137 |
82.593 |
82.593 |
|
Reserves & Surplus |
130.324 |
191.259 |
193.036 |
|
Net
worth |
193.461 |
273.852 |
275.629 |
|
|
|
|
|
|
long-term borrowings |
74.391 |
112.066 |
85.922 |
|
Short term borrowings |
348.405 |
474.958 |
504.687 |
|
Total
borrowings |
422.796 |
587.024 |
590.609 |
|
Debt/Equity
ratio |
2.185 |
2.144 |
2.143 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
8813.593 |
10409.121 |
8613.861 |
|
|
|
18.103 |
(17.247) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
8813.593 |
10409.121 |
8613.861 |
|
Profit |
15.482 |
20.032 |
1.777 |
|
|
0.18% |
0.19% |
0.02% |
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 |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
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 |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if applicable) |
Yes |
|
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWING |
|
|
|
Semi Government Bodies |
84.853 |
111.073 |
|
|
|
|
|
Total |
84.853 |
111.073 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10423955 |
25/03/2013 |
100,000,000.00 |
ANDHRA BANK |
STEEL PLANT TOWNSHIP BRANCH, UKKUNAGARAM, VISAKHAPATNAM, ANDHRA PRADESH - 530032, INDIA |
B74504473 |
|
2 |
10274107 |
15/03/2012 * |
630,000,000.00 |
STATE BANK OF INDIA |
OVERSEAS BRANCH, 9-1-57, GNT ROAD, VISAKHAPATNAM, |
B36734374 |
|
3 |
10047086 |
04/04/2013 * |
1,100,000,000.00 |
UNION BANK OF INDIA |
MAIN BRANCH, 1ST FLOOR, SILVER WILLOW PALACE, DABAGARDENS, VISAKHAPATNAM, ANDHRA PRADESH - 530020, INDIA |
B73995946 |
* Date of charge modification
FIXED ASSETS
· Land and Buildings
· Plant and equipment
· 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 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.62.13 |
|
|
1 |
Rs.95.72 |
|
Euro |
1 |
Rs.71.05 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
ART |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--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 |
|
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
33 |
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.