MIRA INFORM REPORT
|
Report No. : |
331097 |
|
Report Date : |
09.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
SAERTEX INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Saertex Excellence Centre, S No. 282, Mann Village, Mulshi Hinjewadi Phase
II, Pune – 411057, Maharashtra |
|
Tel. No.: |
91-20-66537600 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.12.2013 |
|
|
|
|
Date of
Incorporation : |
30.05.2005 |
|
|
|
|
Com. Reg. No.: |
11-020804 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.7.040 Million |
|
|
|
|
IEC No.: |
3105007890 |
|
|
|
|
CIN No.: [Company Identification
No.] |
U18109PN2005PTC020804 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNES15293F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAJCS101M |
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|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The Company is principally engaged in the manufacture of Stich Bonded Fabrics
mainly catering to Windmill and other industries manufacturing Auto bodies
Boat bodies Aircraft. |
|
|
|
|
No. of Employees
: |
51 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
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|
|
|
Litigation : |
Clear |
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|
|
Comments : |
Subject is an established company incorporated during the year 2005.
It is dealing in the business of manufacturing and exporting of stitched
bonded fabrics. It has a satisfactory track record. Management has failed to file its financial record with the government
department for the year 2014. As per the available financials of the year 2013, the company has
decent sales turnover and an above average profitability margin of 1.6%. Further, the company possesses healthy financial base marked by satisfactory
net worth position and low borrowings. Trade relations are reported as fair. Business is active. Payments
terms are slow but 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 – 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
|
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
31-03-2013.
INFORMATION PARTED BY
|
Name : |
Mr. Sunil Ugle |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-20-66537600 |
|
Date : |
07.07.2015 |
LOCATIONS
|
Registered Office/ Factory : |
Saertex Excellence Centre, S No. 282, Mann Village, Mulshi Hinjewadi Phase
II, Pune – 411057, Maharashtra, India |
|
Tel. No.: |
91-20-66537600 |
|
Fax No.: |
91-20-66537603 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
DIRECTORS
As on 30.06.2014
|
Name : |
Mr. Chandra Palackal Kunjachan Bose |
|
Designation : |
Managing Director |
|
Address : |
D1, 202, Landmark Kalyani Nagar, Pune-411006, Maharashtra, India |
|
Date of Birth/Age : |
07.01.1959 |
|
Date of Appointment : |
08.07.2005 |
|
DIN No. : |
01550320 |
|
|
|
|
Name : |
Mr. Bruno Heirich Lammers |
|
Designation : |
Director |
|
Address : |
Veltrup 20, D48282, EMS Detten-48282, Northshine Westfalia |
|
Date of Birth/Age : |
21.05.1953 |
|
Date of Appointment : |
08.07.2005 |
|
DIN No. : |
02461867 |
|
|
|
|
Name : |
Mr. Stefan Gunter Huge Sive Huwe |
|
Designation : |
Director |
|
Address : |
Anne Frank Ring, 14 Street, Steinfurt-048565, Northshine Westfalia |
|
Date of Birth/Age : |
15.05.1966 |
|
Date of Appointment : |
08.07.2005 |
|
DIN No. : |
02155010 |
KEY EXECUTIVES
|
Name : |
Mr. Sunil Ugle |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS
As on 30.06.2014
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Saertex Beteilingungs GMBH, Germany |
1407 |
99.93 |
|
Saertex GMBH and Company, Germany |
1 |
0.07 |
|
Total |
1408 |
100.00 |
As on 30.06.2014
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is principally engaged in the manufacture of Stich Bonded
Fabrics mainly catering to Windmill and other industries manufacturing Auto bodies
Boat bodies Aircraft. |
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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 : |
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Products : |
Finished Goods |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Stiched Bonded Fabrics
|
Metric Tons |
10000 |
7500 |
2755 |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Wholesalers and Retailers
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No. of Employees : |
51 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
|
|
Name : |
Sharp and Tannan Chartered Accountant |
|
Address : |
802, Lloyds Chambers , Block II, 409, Barne Road, Near Sinchan Bhavan,
Pune –
411011, Maharashtra, India |
|
Tel. No.: |
91-22-22047722/23/66338343/47 |
|
Fax No.: |
91-22-66338352 |
|
E-Mail : |
|
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFS2967E |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
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|
|
|
Holding Company : |
· Saertex Beteilingungs GMBH, Germany |
|
|
|
|
Fellow Subsidiaries : |
·
Saertex USA LLLC ·
Saertex Reinforcement China Company Limited ·
Saertex Kenrock (India) Private Limited ·
Saertex Multicom GMBH ·
Saertex Portugal ·
Saertex South Africa (Pty) Limited |
|
|
|
|
Associates : |
· Saertex Gmbh and Company KG |
CAPITAL STRUCTURE
As on 30.06.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1500 |
Equity Shares |
Rs.5000/- each |
Rs.7.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1408 |
Equity Shares |
Rs.5000/- each |
Rs.7.040
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
7.040 |
7.040 |
7.040 |
|
(b) Reserves & Surplus |
161.348 |
156.994 |
229.435 |
|
(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) |
168.388 |
164.034 |
236.475 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
7.898 |
34.999 |
65.933 |
|
(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 |
1.657 |
1.582 |
1.449 |
|
Total
Non-current Liabilities (3) |
9.555 |
36.581 |
67.382 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
52.274 |
69.549 |
81.218 |
|
(b) Trade payables |
64.067 |
39.391 |
50.346 |
|
(c) Other current liabilities |
81.308 |
65.680 |
43.098 |
|
(d) Short-term provisions |
0.119 |
0.094 |
0.000 |
|
Total
Current Liabilities (4) |
197.768 |
174.714 |
174.662 |
|
|
|
|
|
|
TOTAL |
375.711 |
375.329 |
478.519 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
76.471 |
87.897 |
120.753 |
|
(ii) Intangible Assets |
1.306 |
1.807 |
2.305 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
25.145 |
|
(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) |
7.504 |
7.670 |
13.666 |
|
(d) Long-term Loan and Advances |
14.006 |
13.864 |
0.276 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
99.287 |
111.238 |
162.145 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
97.635 |
57.474 |
111.427 |
|
(c) Trade receivables |
97.409 |
128.050 |
128.413 |
|
(d) Cash and cash equivalents |
2.008 |
0.957 |
7.181 |
|
(e) Short-term loans and
advances |
79.372 |
77.610 |
69.353 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
276.424 |
264.091 |
316.374 |
|
|
|
|
|
|
TOTAL |
375.711 |
375.329 |
478.519 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
|
SALES |
|
|
|
|
|
Income |
300.218 |
350.725 |
537.113 |
|
|
Other Income |
NA |
8.550 |
7.368 |
|
|
TOTAL
|
NA |
359.275 |
544.481 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
201.320 |
403.656 |
|
|
Purchases of Stock-in-Trade |
|
0.000 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
43.443 |
(30.929) |
|
|
Employees benefits expense |
|
31.143 |
32.342 |
|
|
Other expenses |
144.541 |
88.196 |
|
|
|
TOTAL
|
NA |
420.447 |
493.265 |
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
28.133 |
(61.172) |
51.216 |
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
3.819 |
15.845 |
10.526 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
24.314 |
(77.017) |
40.690 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
17.210 |
20.987 |
19.887 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
7.104 |
(98.004) |
20.803 |
|
|
|
|
|
|
|
Less |
TAX |
2.166 |
(26.146) |
6.468 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
4.938 |
(71.858) |
14.335 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
138.598 |
125.719 |
13.303 |
|
|
TOTAL
EARNINGS |
138.598 |
125.719 |
13.303 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
39.835 |
19.128 |
89.653 |
|
|
Consumables and Spares |
1.222 |
0.811 |
3.870 |
|
|
Capital Goods |
0.528 |
0.000 |
9.957 |
|
|
TOTAL
IMPORTS |
41.585 |
19.939 |
103.480 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
350.14 |
(51035.51) |
10181.11 |
|
Particulars |
|
31.03.2014 |
31.03.2015 |
|
Sales Turnover |
|
402.200 |
402.200 |
|
|
|
|
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
Current Maturities of Long term debt |
33.359 |
32.374 |
27.798 |
|
Cash generated from(Used in) operations |
54.698 |
45.740 |
22.312 |
|
Net cash generated from the operations |
51.048 |
45.635 |
6.282 |
KEY
RATIOS
|
PARTICULARS |
|
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
Net Profit Margin (PAT / Sales) |
(%) |
1.64 |
(20.49) |
2.67 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
9.37 |
(17.44) |
9.54 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.93 |
(26.66) |
4.73 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04 |
(0.60) |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.56 |
0.83 |
0.74 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.40 |
1.51 |
1.81 |
FINANCIAL ANALYSIS
[all figures are in
Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.12.2011 |
31.12.2012 |
31.12.2013 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
7.040 |
7.040 |
7.040 |
|
Reserves & Surplus |
229.435 |
156.994 |
161.348 |
|
Net
worth |
236.475 |
164.034 |
168.388 |
|
long-term borrowings |
65.933 |
34.999 |
7.898 |
|
Short term borrowings |
81.218 |
69.549 |
52.274 |
|
Current Maturities of
Long-Term Debts |
27.798 |
32.374 |
33.359 |
|
Total
borrowings |
174.949 |
136.922 |
93.531 |
|
Debt/Equity
ratio |
0.740 |
0.835 |
0.555 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.12.2011 |
31.12.2012 |
31.12.2013 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
537.113 |
350.725 |
300.218 |
|
|
|
(34.702) |
(14.401) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.12.2011 |
31.12.2012 |
31.12.2013 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
537.113 |
350.725 |
300.218 |
|
Profit |
6.967 |
(80.408) |
4.938 |
|
|
1.30% |
(22.93%) |
1.64% |
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 |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
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 |
Yes |
|
19 |
Major customers |
Yes |
|
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 |
No |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
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 |
FUTURE OUTLOOK:
The business outlook for SAERTEX INDIA looks to be bright as the wind
industry in India is growing in a considerably big way. The new Indian
government is giving high emphasis on wind energy whereby new wind FORM
DEVELOPMENTS ARE IN PROGRESS. Considering all the aspects there could be a
possibility that India will be one of the major procedures of wind energy by
year 2020. The estimated production of wind energy by year 2020 is
approximately 100,000 MW. Also the government is encouraging more advanced technology
wind mills and also off-shore whereby bigger wind mills are being installed up
to the capacity of 6 MW. This means definetly the SAERTEX products will have
more and more demand in this sector. Currently there are more than 10 major
manufacturers in India which includes Suzlon, Enercon, Vestas, Lietner, Regen,
Reliance (Global), Knersys and RRB. LM the blade manufacturer is also expanding
their capacity in India. When all of them go for full production capacity means
there could be around 10,000 MW. Also nacelles and spinners manufacturers like
M/s. Indutch, Indocool, Venkateswara and Suvarna will add additional demand for
SEARTEX fabrics.
Defence sector opened up by government of India will new business vistas
for SAERTEX specially for carbon fabrics. Since the government has offered 49%
up to 75% on FDI there are huge opportunities for defence manufacturing within
India and also many off set programs which shall be of great interest. SAERTEX
has been interest to produce carbon fabrics is a business opportunity whereby
SAERTEX will the first company producing carbon non crimp fabrics in India. By
year 2020 India will be one of the largest producers of Carbon Fabrics as per
estimate.
Aeronautical, marine and automotive sectors will also move forward to use
composite material whereby there will be many chances foe new application
developments by SAERTEX. Though the FDI opening in marine, aeronautical and
automotive sectors there is a high emphasis on weight reduction, fuel
efficiency and carbon emission reduction by the government whereby there is a
great opportunity for using composite material for multiple applications.
Marine and aeronautical industries in India are just on the bussing
stage and there is all likely hood that this industries will grow in a bigger
way as auto major Mahindra and also Honda is planning to build high end boats
in India which will add more SAERTEX products in the coming years. As such
SAERTEX INDIA has started the marine industry business and the progress is
promising. Area countries business also will pick up in the coming years but
these markets are quite unpredictable hence the emphasis is more to the India
market only.
UNSECURED LOAN
|
PARTICULARS |
31.12.2013 (Rs.
in Million) |
31.12.2012 (Rs.
in Million) |
|
Long Term
Borrowing |
|
|
|
ECB Loan From SAERTEX, gmBH |
7.898 |
34.999 |
|
|
|
|
|
Total |
7.898 |
34.999 |
INDEX
OF CHARGES
No Charges Exist for Company
FIXED ASSETS
· Factory Building
· Plant and Machinery
· Electrical Installations
· Computer
· Furniture and Fixture
· Office Equipment
· Vehicles
· Computer Software
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.63.56 |
|
|
1 |
Rs.98.22 |
|
Euro |
1 |
Rs.69.93 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
SUD |
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 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
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 |
|
43 |
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.