MIRA INFORM REPORT

 

 

Report No. :

330659

Report Date :

09.07.2015

 

IDENTIFICATION DETAILS

 

Name :

INDIAN ACRYLICS LIMITED

 

 

Registered Office :

Village Harkrishanpura, Sub-Tehsil, Bhawanigarh, District. Sangrur-148026, Punjab

Tel. No.:

91-167-2793112

 

 

Country :

India

 

 

Financials (as on) :

31.03.2015

 

 

Date of Incorporation :

28.02.1986

 

 

Com. Reg. No.:

16-006715

 

 

Capital Investment / Paid-up Capital :

Rs. 1353.222 Million

 

 

CIN No.:

[Company Identification No.]

L24301PB1986PLC006715

 

 

IEC No.:

2288001470

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AAAC13794C

 

 

Legal Form :

A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges.

 

 

Line of Business :

Manufacturer and Distributor of Acrylic Fiber.

 

 

No. of Employees :

700 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca (12)

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Moderate

 

 

Payment Behaviour :

Slow

 

 

Litigation :

Clear

 

 

Comments :

Subject is a company incorporated during the year 1986 and engaged in the business of manufacturing and distributing of acrylic fiber. It has moderate track record.

 

Even though the company has long business track record but the operations performed by the company is weak. The company has incurred huge losses and it has modest net worth position along with high amount of trade payables.

 

Rating is constrained on account that company is listed with RBI defaulter and defaulted hefty amount with IDBI Bank.

 

Moreover, the company low stake holder in stock exchange.

 

However, trade relations are fair. Business is active. Payments terms are slow.

 

In view of weak financial profile, the company can be considered for business dealing on safe and secured 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 – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

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

 

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 31-03-2013.

 

 

INFORMATION PARTED BY

 

Name :

Mr. Ramesh

Designation :

Accounts Department

Contact No.:

91-167-2278110

Date :

04.07.2015

 

 

LOCATIONS

 

Registered Office :

Village Harkishanpura, Sub-Tehsil. Bhawanigarh, District, Sangrur – 148026, Punjab, India

Tel. No.:

91-167-2793112

Fax No.:

91-167-2278110

E-Mail :

info@indianacrylics.com

shares@indianacrylics.com

Website :

http://www.indianacrylics.com

Location :

Owned

Locality :

Commercial

 

 

Corporate Office :

SCO 49-50, Sector 26, Madhya Marg, Chandigarh – 160 019, Punjab, India

Tel. No.:

91-172-2793112 / 2792385 / 2790979 / 2793117 / 2790831

Fax No.:

91-172-2794834 / 2790887 / 2790835

 

 

DIRECTORS

 

AS ON: 31.03.2014

 

Name :

Mr.  Vikas Pratap

Designation :

Chairman

 

 

Name :

Mr. Rajender Kumar Garg

Designation :

Managing Director

 

 

Name :

Mr. Dheeraj Garg

Designation :

Additional Managing Director

 

 

Name :

Mr. Ajit Singh Chatha, I.A.S. (Retd),

Designation :

Director

 

 

Name :

Rear Adm. Madan Mohan Chopra (Retired)

Designation :

Director

 

 

Name :

Satish Kumar Dua

Designation :

Nominee Director

 

 

Name :

Tejinder Kaur

Designation :

Additional Director

 

 

Name :

Prof. (Dr.) Bankey Behare Tandon

Designation :

Director

 

 

Name :

Mr. Humesh Kumar Singhal

Designation :

Finance Director

 

 

Name :

Mr. Suresh Kumar Singla

Designation :

Nominee Director

 

 

 

KEY EXECUTIVES

 

 

Name :

Mr. Bhavnesh K. Gupta

Designation :

Company Secretary

 

 

SHAREHOLDING PATTERN

 

AS ON: 31.03.2015

 

Category of Shareholder

Total No. of Shares

Total Shareholding as a % of Total No. of Shares

(A) Shareholding of Promoter and Promoter Group

http://www.bseindia.com/include/images/clear.gif(1) Indian

 

 

http://www.bseindia.com/include/images/clear.gifIndividuals / Hindu Undivided Family

15173249

11.21

http://www.bseindia.com/include/images/clear.gifCentral Government / State Government(s)

18330000

13.55

http://www.bseindia.com/include/images/clear.gifBodies Corporate

39356648

29.08

http://www.bseindia.com/include/images/clear.gifSub Total

72859897

53.84

http://www.bseindia.com/include/images/clear.gif(2) Foreign

 

 

Total shareholding of Promoter and Promoter Group (A)

72859897

53.84

(B) Public Shareholding

http://www.bseindia.com/include/images/clear.gif(1) Institutions

 

 

http://www.bseindia.com/include/images/clear.gifMutual Funds / UTI

232150

0.17

http://www.bseindia.com/include/images/clear.gifFinancial Institutions / Banks

9231099

6.82

http://www.bseindia.com/include/images/clear.gifSub Total

9463249

6.99

http://www.bseindia.com/include/images/clear.gif(2) Non-Institutions

 

 

http://www.bseindia.com/include/images/clear.gifBodies Corporate

9009905

6.66

http://www.bseindia.com/include/images/clear.gifIndividuals

 

 

http://www.bseindia.com/include/images/clear.gifIndividual shareholders holding nominal share capital up to Rs. 0.100 million

27388217

20.24

http://www.bseindia.com/include/images/clear.gifIndividual shareholders holding nominal share capital in excess of Rs. 0.100 million

16082496

11.88

http://www.bseindia.com/include/images/clear.gifAny Others (Specify)

518398

0.38

http://www.bseindia.com/include/images/clear.gifAny Other

518398

0.38

http://www.bseindia.com/include/images/clear.gifSub Total

52999016

39.17

Total Public shareholding (B)

62462265

46.16

Total (A)+(B)

135322162

100.00

 

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Distributor of Acrylic Fiber.

 

 

Products :

Product Description

Item Code No.

Acrylic Fibre

5503.30

Acrylic Tow

5501.30

Acrylic Waste

5505.10

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

 

Products :

Raw Material

Countries :
  • United States of America
  • Korea
  • japan

 

 

Terms :

 

Selling :

Cash and Credit (60/90 Days)

 

 

Purchasing :

Cash and Credit (60/90 Days)

 

 

PRODUCTION STATUS (AS ON 31.03.2014)

 

Quantitative Data

Item Manufactured

Qty.(MT)

Licenced /Registered Capacity

Acrylic Fiber and Waste

 

Delicenced

Installed Capacity #

Acrylic Fiber and Waste

42000

Production

Acrylic Fiber

35969

 

Acrylic Fiber Waste

152

 

# AS certified by the Management and relied on by the Auditors being a technical matter.

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :

Wholesalers, Retailers and Retailers

 

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

700 (Approximately) 

 

 

Bankers :

Banker Name

State Bank of India

Branch Address

Commercial Branch, Delhi, India

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged
  • State Bank of Patiala, Commercial Branch, Chandigarh, India
  • Punjab National Bank
  • Indian Overseas Bank

 

 

 

Facilities :

(Rs. In Million)

SECURED LOAN

As on

31.03.2015

As on

31.03.2014

SHORT TERM BORROWING

 

 

Cash Credit Account

NA

72.351

Total

NA

72.351

 

SHORT TERM BORROWINGS (AS ON: 31.03.2014)

 

Cash Credit / Working capital borrowings are secured by hypothecation of book debts, raw-material, finished goods, semi-finished goods, consumable stores and spares including stocks in transit of the company and also by a second charge on the fixed assets of the company and further guaranteed by Sh. R.K. Garg, Managing Director, Sh. Dheeraj Garg, Additional Managing Director and Mrs. Sunena Garg and also by Indlon Chemicals Limited.

 

 

Auditors :

 

Name :

S. C. Dewan and Company

Chartered Accountants

Tel. No:

91-172-2556190 / 2556890

Address :

S. C. O. 90, 1st Floor, Swastik Vihar, Panchkula-134109, Haryana, India

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associate Company :

(As on: 31.03.2014)

Indlon Chemicals Limited

 

 

Enterprises over which Key Management personnel (KMP) are able to exercise significant control and with whom transactions have taken place during the year:

(As on: 31.03.2014)

·         SAB Industries Limited

·         Steel Strips Limited

·         Malwa Chemtex Udyog Limited

·         Steel Strips Wheels Limited

·         Steel Strips Infrastructures Limited

 

 

 

 

CAPITAL STRUCTURE

 

AS ON: 31.03.2015

 

Authorized Capital: NOT AVAILABLE

 

Issued, Subscribed & Paid-up Capital: Rs. 1353.222 Million

 

 

AS ON: 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

150000000

Equity Shares

Rs.10/- each

Rs.1500.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

135322162

Equity Shares

Rs.10/- each

Rs.1353.222 Million

 

 

 

 

 

No of shares held by Shareholders holding 5% and above:-

 

Particulars

No. of Shares

Percentage Holding

Shri Dheeraj Garg

10,965,889

8.10

IFCI Limited

9,515,753

7.03

SAB Industries Limited

14,793,772

10.93

SAB Udyog Limited

16,880,646

12.47

PSIDC Limited

18,330,000

13.55

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

31.03.2015

31.03.2014

31.03.2013

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

1353.222

1353.222

1353.222

(b) Reserves & Surplus

(803.544)

(609.535)

(722.737)

(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)

549.678

743.687

630.485

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

0.000

0.000

32.676

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long term liabilities

300.027

139.981

154.312

(d) long-term provisions

29.611

20.965

0.000

Total Non-current Liabilities (3)

329.638

160.946

186.988

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

150.703

72.351

354.648

(b) Trade payables

1298.065

1584.887

1213.749

(c) Other current liabilities

220.015

197.029

106.732

(d) Short-term provisions

28.910

26.285

35.114

Total Current Liabilities (4)

1697.693

1880.552

1710.243

 

 

 

 

TOTAL

2577.009

2785.185

2527.716

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

1015.969

812.091

901.246

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

24.472

225.491

20.210

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

0.000

0.000

0.000

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

10.417

10.686

10.035

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

1050.858

1048.268

931.491

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

985.041

1120.931

1081.086

(c) Trade receivables

188.616

216.619

293.427

(d) Cash and cash equivalents

120.858

214.088

70.395

(e) Short-term loans and advances

216.674

176.254

130.127

(f) Other current assets

14.962

9.025

21.190

Total Current Assets

1526.151

1736.917

1596.225

 

 

 

 

TOTAL

2577.009

2785.185

2527.716

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2015

31.03.2014

31.03.2013

 

SALES

 

 

 

 

Income

5511.700

6311.300

3875.372

 

Other Income

0.000

0.000

51.800

 

TOTAL

5511.700

6311.300

3927.172

 

 

 

 

 

Less:

EXPENSES

 

 

 

 

Cost of Materials Consumed

4380.500

4923.700

2216.919

 

Purchases of Stock-in-Trade

0.000

0.000

447.379

 

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

(42.300)

(130.800)

294.253

 

Employees benefits expense

210.800

166.100

146.797

 

Other expenses

894.700

900.800

604.801

 

Prior Period Adjustment

0.600

2.100

1.710

 

 Exceptional Income

(26.300)

0.000

(81.449)

 

TOTAL

5418.000

5861.900

3630.410

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

93.700

449.400

296.762

 

 

 

 

 

Less:

FINANCIAL EXPENSES

158.700

238.700

190.255

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION 

(65.000)

210.700

106.507

 

 

 

 

 

Less:

DEPRECIATION/ AMORTISATION

84.800

97.500

64.822

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

(149.800)

113.200

41.685

 

 

 

 

 

Less:

TAX

0.000

0.000

 0.000

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX

(149.800)

113.200

41.685

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

F.O.B. Value of Exports

NA

 1822.200

549.145 

 

TOTAL EARNINGS

NA

 1822.200

549.145 

 

 

 

 

 

 

IMPORTS

 

 

 

 

Raw Materials

 

 2400.686

1160.961 

 

Components and Stores parts

 

 40.429

 16.172

 

TOTAL IMPORTS

NA

2441.115

1177.133

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

(-1.11)

0.84

 0.31

 

 

Expected Sales (2015-2016): Rs. 6000.000 Million

 

The above information has been parted by Mr. Ramesh (Accounts Department)

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2015

31.03.2014

31.03.2013

Current Maturities of Long term debt

NA

43.276

39.437

Cash generated from operations

NA

641.276

111.685

Net Cash From Operating Activities

NA

639.146

191.424

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2015

31.03.2014

31.03.2013

Net Profit Margin

(PAT / Sales)

(%)

(2.72)

1.79

1.08

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

1.70

7.12

7.66

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

(5.87)

4.42

1.66

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

(0.27)

0.15

0.07

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

0.27

0.10

0.61

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

0.90

0.92

0.93

 

 

STOCK PRICES

 

Face Value

Rs. 10.00

Market Value

Rs. 5.38

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

1353.222

1353.222

1353.222

Reserves & Surplus

(722.737)

(609.535)

(803.544)

Net worth

630.485

743.687

549.678

 

 

 

 

long-term borrowings

32.676

0.000

0.000

Short term borrowings

354.648

72.351

150.703

Total borrowings

387.324

72.351

150.703

Debt/Equity ratio

0.614

0.097

0.274

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

3875.372

6311.300

5511.700

 

 

62.857

(12.669)

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

3875.372

6311.300

5511.700

Profit

41.685

113.200

(149.800)

 

1.08%

1.79%

(2.72%)

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check list by info agents

Available in Report (Yes/No)

1

Year of establishment

Yes

2

Constitution of the entity -Incorporation details

Yes

3

Locality of the entity

Yes

4

Premises details

No

5

Buyer visit details

--

6

Contact numbers

Yes

7

Name of the person contacted

Yes

8

Designation of contact person

Yes

9

Promoter’s background

No

10

Date of Birth of Proprietor / Partners / Directors

No

11

Pan Card No. of Proprietor / Partners

No

12

Voter Id Card No. of Proprietor / Partners

No

13

Type of business

Yes

14

Line of Business

Yes

15

Export/import details (if applicable)

Yes

16

No. of employees

Yes

17

Details of sister concerns

Yes

18

Major suppliers

No

19

Major customers

No

20

Banking Details

Yes

21

Banking facility details

Yes

22

Conduct of the banking account

--

23

Financials, if provided

Yes

24

Capital in the business

Yes

25

Last accounts filed at ROC, if applicable

Yes

26

Turnover of firm for last three years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

Yes

29

Profitability for last three years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

No

32

Litigations that the firm/promoter involved in

--

33

Market information

--

34

Payments terms

Yes

35

Negative Reporting by Auditors in the Annual Report

No

 

 

 

INDEX OF CHARGES:

 

S. No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10572273

14/05/2015

127,500,000.00

STATE BANK OF PATIALA

COMMERCIAL BRANCH, SCO 103-107, SECTOR 8-C, CHANDIGARH, CHANDIGARH - 160018, INDIA

C55090765

2

10568333

18/04/2015

236,000,000.00

PUNJAB NATIONAL BANK

SECTOR 17-B, CHANDIGARH, CHANDIGARH - 160017, INDIA

C53120630

3

10568337

18/04/2015

315,000,000.00

PUNJAB NATIONAL BANK

SECTOR 17-B, CHANDIGARH, CHANDIGARH - 160017, INDIA

C53121406

4

10552046

20/02/2015

150,000,000.00

STATE BANK OF INDIA

SCO 101-108, COMMERCIAL BRANCH, SECTOR 17-B, CHANDIGARH, CHANDIGARH - 160017, INDIA

C45077765

5

90168546

12/03/2014 *

1,380,000,000.00

PUNJAB NATIONAL BANK

PUNJAB NATIONAL BANK, SECTOR 17-B, CHANDIGARH, CHANDIGARH - 160017, INDIA

C02334886

 

 

 

FIXED ASSETS:

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

1]         INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

 

2]         Court Declaration :

No 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. 63.57

UK Pound

1

Rs. 98.22

Euro

1

Rs. 69.93

 

 

INFORMATION DETAILS

 

Information Gathered by :

MNU

 

 

Analysis Done by :

TRI

 

 

Report Prepared by :

THR

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

2

PAID-UP CAPITAL

1~10

2

OPERATING SCALE

1~10

2

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

1

--PROFITABILITY

1~10

1

--LIQUIDITY

1~10

1

--LEVERAGE

1~10

1

--RESERVES

1~10

1

--CREDIT LINES

1~10

1

--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

 

12

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                  Payment record (10%)

Credit history (10%)                   Market trend (10%)                                Operational size (10%)

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

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

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

--

NB

                                       New Business

 

--

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.