MIRA INFORM REPORT
|
Report No. : |
309611 |
|
Report Date : |
25.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
SUN BROADCAST EQUIPMENTS PRIVATE LIMITED |
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Registered
Office : |
2/5, West Patel Nagar, New Delhi - 110008 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
14.08.2002 |
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Com. Reg. No.: |
116546 |
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Capital
Investment / Paid-up Capital : |
Rs.1.000 Million |
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CIN No.: [Company Identification
No.] |
U32201DL2002PTC116546 |
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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 : |
Private Limited Liability Company |
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Line of Business
: |
Importer and Dealer of broadcasting Equipments. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 254000 |
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. Even
though there is a dip in the sales turnover of the company, but it has
improved its operations and achieved a decent profit during FY 2014. The rating also takes into consideration the favourable gap between
trade receivable and payables backed by strong liquidity position of the
company. Trade relations are reported as fair. Business is active. Payment
terms are reported to be usually 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 |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
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.
LOCATIONS
|
Registered Office : |
2/5, West Patel Nagar, New Delhi – 110008, India |
|
Tel. No.: |
91-11- 2588 9728-31 |
|
Mobile No.: |
91-9810275445 (Rashmi Panda) |
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Fax No.: |
91-11-2588 9252 / 2588 7824 |
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E-Mail : |
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Website : |
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Head Office : |
3/31, 3rd Floor, West Patel Nagar, New Delhi - 110008, India |
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Service Center: |
16/5, 2nd Floor, W.E.A Karol Bagh, New Delhi – 110005, India |
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Tel. No.: |
91-11 - 4501 9907-09 |
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Fax No.: |
91-11 - 4501 9966 |
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E-Mail : |
DIRECTORS
As on 30.09.2014
|
Name : |
Vinit Govil |
|
Designation : |
Director |
|
Address : |
KA-50, KAVI NAGAR, GHAZIABAD – 201001, Uttar Pradesh, India |
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Date of Birth/Age : |
21.12.1962 |
|
Date of Appointment : |
25.04.2013 |
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DIN No.: |
06546378 |
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|
|
|
Name : |
Kapil Sood |
|
Designation : |
Director |
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Address : |
FCA 2696A, SGM Nagar, NIT Faridabad – 121001, Haryana, India |
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Date of Birth/Age : |
27.01.1975 |
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Date of Appointment : |
25.04.2013 |
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DIN No.: |
01740656 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Kush Malik |
|
45000 |
|
Luv Malik |
|
50000 |
|
Sunil Malik |
|
5000 |
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|
|
|
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Total |
|
100000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Importer and Dealer of broadcasting Equipments. |
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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 : |
Not Available |
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Customers : |
Not Available |
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No. of Employees : |
Not Available |
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Bankers : |
Jammu and Kashmir Bank Limited, (Corporate Headquarters),M.A. Road,Srinagar, Kashmir, Jammu and Kashmir - 190001, India |
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Facilities : |
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Banking
Relations : |
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Financial Institution : |
A. K. Capital Finance Private Limited, 809, 6th Floor, Antriksh Bhawan, 22, Kasturba Gandhi Marg, Connaught Place,, New Delhi – 110001, India |
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Auditors : |
|
|
Name : |
A.K. Batra and Associates Chartered Accountants |
|
Address : |
A-36, First Floor, Ring Road, Rajouri Garden, New Delhi – 110027, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFA7179A |
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Memberships : |
-- |
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Collaborators : |
-- |
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Subsidiary: |
Sun Itech And Broadcast Private Limited U32204DL2009PTC195660 |
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Associate Companies
: |
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CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100,000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100,000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 Million |
|
|
|
|
|
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 |
1.000 |
1.000 |
1.000 |
|
(b) Reserves &
Surplus |
87.649 |
60.140 |
37.934 |
|
(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) |
88.649 |
61.140 |
38.934 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
94.490 |
100.000 |
67.761 |
|
(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) |
94.490 |
100.000 |
67.761 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
7.104 |
4.373 |
0.109 |
|
(b) Trade payables |
14.796 |
548.349 |
60.556 |
|
(c) Other current
liabilities |
7.365 |
18.219 |
3.381 |
|
(d) Short-term provisions |
13.711 |
10.841 |
4.753 |
|
Total Current Liabilities
(4) |
42.976 |
581.782 |
68.799 |
|
|
|
|
|
|
TOTAL |
226.115 |
742.922 |
175.494 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
9.990 |
7.704 |
3.257 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
11.614 |
0.000 |
0.000 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
32.852 |
7.852 |
7.852 |
|
(c) Deferred tax assets
(net) |
0.640 |
0.396 |
0.359 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
55.096 |
15.952 |
11.468 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
22.524 |
13.171 |
15.354 |
|
(c) Trade receivables |
49.690 |
71.774 |
92.127 |
|
(d) Cash and cash
equivalents |
46.172 |
579.638 |
40.866 |
|
(e) Short-term loans and
advances |
52.633 |
62.387 |
15.679 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
171.019 |
726.970 |
164.026 |
|
|
|
|
|
|
TOTAL |
226.115 |
742.922 |
175.494 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
468.271 |
770.361 |
406.577 |
|
|
Other Income |
8.350 |
4.974 |
1.670 |
|
|
TOTAL |
476.621 |
775.335 |
408.247 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
TOTAL |
435.356 |
742.429 |
394.197 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
41.265 |
32.906 |
14.050 |
|
|
|
|
|
|
|
Less |
TAX |
13.756 |
10.700 |
4.847 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
27.509 |
22.206 |
9.203 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
4.466 |
25.514 |
76.403 |
|
|
TOTAL EARNINGS |
4.466 |
25.514 |
76.403 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
10.799 |
78.499 |
220.094 |
|
|
TOTAL IMPORTS |
10.799 |
78.499 |
220.094 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
275.09 |
222.06 |
92.03 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
5.87 |
2.88 |
2.26 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
8.81 |
4.27 |
3.46 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
22.80 |
4.48 |
8.40 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.47 |
0.54 |
0.36 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.15 |
1.71 |
1.74 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.98 |
1.25 |
2.38 |
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 |
1.000 |
1.000 |
1.000 |
|
Reserves & Surplus |
37.934 |
60.140 |
87.649 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
38.934 |
61.140 |
88.649 |
|
|
|
|
|
|
long-term borrowings |
67.761 |
100.000 |
94.490 |
|
Short term borrowings |
0.109 |
4.373 |
7.104 |
|
Total borrowings |
67.870 |
104.373 |
101.594 |
|
Debt/Equity ratio |
1.743 |
1.707 |
1.146 |
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) |
|
Sales |
406.577 |
770.361 |
468.271 |
|
|
|
89.475 |
(39.214) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
406.577 |
770.361 |
468.271 |
|
Profit |
9.203 |
22.206 |
27.509 |
|
|
2.26% |
2.88% |
5.87% |
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 |
No |
COMPANY INFORMATION
The company was incorporated on 14-08-2002 to carry on the business of Broadcasting Equipments.
OPERATIONS
The Company has made Sales of Rs.401.621 Millions (Previous Year Rs. 747.471 Millions) and has earned Service / Commission of Rs. 66.650 Millions (Previous Year Rs. 22.890 Millions) during the year. Besides the above, the company has also earned other income of Rs.8.350 Millions during the year (Previous year Rs.4.974 Millions).
FINANCIAL RESULTS
The Company has earned a profit of Rs. 41.265 Millions (Previous Year profit of Rs. 32.906 Millions) during the year.
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10365752 |
21/06/2012 |
60,000,000.00 |
A. K. CAPITAL FINANCE PRIVATE LIMITED |
30-39, FREE PRESS HOUSE, 3RD FLOOR,, FREE PRESS J |
B43729292 |
|
2 |
10324115 |
28/11/2011 |
50,000,000.00 |
A.K. CAPITAL FINANCE PRIVATE LIMITED |
809, 6TH FLOOR, ANTRIKSH BHAWAN,, 22, KASTURBA GA |
B28212728 |
|
3 |
10041660 |
11/09/2007 * |
65,000,000.00 |
JAMMU AND KASHMIR BANK LIMITED |
(CORPORATE HEADQUARTERS),M.A.ROAD,SRINAGAR,KASHMIR |
A31511082 |
* Date of charge modification
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.62.28 |
|
|
1 |
Rs.96.21 |
|
Euro |
1 |
Rs.70.60 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
SNT |
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 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
|
45 |
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.