MIRA INFORM REPORT
|
Report No. : |
331258 |
|
Report Date : |
10.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
ORBIT RESORTS LIMITED (w.e.f.15.12.2014) |
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|
|
|
Formerly Known
As : |
ORBIT RESORTS PRIVATE LIMITED |
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|
|
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Registered
Office : |
House No. 256, Sector – 9 C, Chandigarh – 160009 (U.T.) |
|
Tel. No.: |
91-172-2741430 |
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Country : |
India |
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|
|
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
24.03.1988 |
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|
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Com. Reg. No.: |
53-008156 |
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Capital
Investment / Paid-up Capital : |
Rs. 131.059
Million |
|
|
|
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CIN No.: [Company Identification
No.] |
U55101CH1988PLC008156 |
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|
|
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IEC No.: |
2200002394 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACO4024H |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject act as Hotel and providing hospitality services. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 21340000 |
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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 : |
Orbit Resorts Private Limited was registered on 24.03.1988. It is a
well-established company having satisfactory track record. The rating reflects on Orbit Resorts Private Limited, strong improvement
in its financial risk profile driven by healthy and increasing cash flows
from both the operating activities run by the company and its management’s
conservative approach towards external debt. Rating continues to reflects the strong managerial, financial and
support that company receive from its diversified business of its promoters
and company established track record in the market. These rating strength are partially offset by company average capital
structure on account of substantial losses in the past, through improving yet
modest revenue and susceptibility of margins to economic cycles and intense
competition in the hospitality segment. However, trade relations are reported to be fair. Business is active. Payment
terms are usually correct. In view of strong operation and financial base, the company can be
considered for good business dealing with its 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 |
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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 DECLINED BY
|
Name : |
Mr. Mohd. Jameel |
|
Designation : |
Director |
|
Contact No.: |
91-9871388852 |
|
Date : |
08.07.2015 |
LOCATIONS
|
Registered Office : |
House No. 256, Sector – 9 C, Chandigarh – 160009 (U.T.), India |
|
Tel. No.: |
91-172-2741430 |
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Mobile No.: |
91-9871388852 (Mr. Mohd. Jameel) |
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Fax No.: |
91-172-2746383 |
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E-Mail : |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mohd Jameel |
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Designation : |
Director |
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Address : |
H. No. 312, Housefed Colony, Dabwali Road, Bathinda, Punjab, India |
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Date of Birth/Age : |
08.05.1967 |
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Qualification : |
Graduate |
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Date of Appointment : |
26.09.2011 |
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DIN No.: |
00946659 |
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Other Directorship :
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Name : |
Lakhvir Singh |
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Designation : |
Director |
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Address : |
Ward No. 11, Handiaya – 148001, Punjab, India |
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Date of Birth/Age : |
18.09.1968 |
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Qualification : |
Graduate |
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Date of Appointment : |
01.11.2012 |
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DIN No.: |
01175007 |
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Other Directorship :
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KEY EXECUTIVES
|
Name : |
Mr. Manoj Sharma |
|
Designation : |
Secretary |
|
Address : |
H. No. 193, Gali No. 2, New Tilpat Colony, Faridabad – 121003,
Haryana, India |
|
Date of Birth/Age : |
10.03.1985 |
|
Date of Appointment : |
01.07.2013 |
|
PAN No.: |
BQTPS5115A |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Sukhbir Singh Badal |
|
882298 |
|
Falcon Properties Private Limited, India |
|
59872 |
|
Dabwali Transport Company Limited, India |
|
201727 |
|
Praneet Kaur Kairon |
|
6300 |
|
Kanwaljit Singh Sidhu |
|
79328 |
|
Harsimrat Kaur Badal |
|
9445 |
|
Sukhbir Singh Badal HUF |
|
71620 |
|
|
|
|
|
Total |
|
1310590 |
AS ON 30.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
6.00 |
|
Bodies
corporate |
20.00 |
|
Directors
or relatives of directors |
74.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject act as Hotel and providing hospitality services. |
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Products : |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
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Products : |
Not Available |
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Countries : |
Not Available |
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Imports : |
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Products : |
Not Available |
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Countries : |
Not Available |
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Terms : |
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Selling : |
Not Available |
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Purchasing : |
Not Available |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
· Punjab and Sind Bank Sec 17 A, Chandigarh - 160017, Chandigarh, India ·
Punjab National Bank ·
HDFC Bank Limited ·
ICICI Bank Limited |
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Facilities : |
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Banking
Relations : |
-- |
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Financial Institution : |
· Indiabulls Housing Finance Limited F-60 Malhotra Building, 2nd Floor Connaught Place, New Delhi - 110001, Delhi, India |
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Auditors : |
|
|
Name : |
Chander Raheja and Company Chartered Accountants |
|
Address : |
3065, Street No 4, Power House Road, Bathinda-151001, Punjab, India |
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Tel. No.: |
91-164-2212712 |
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Income-tax
PAN of auditor or auditor's firm : |
AAGFC9575N |
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Memberships : |
-- |
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Collaborators : |
-- |
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Subsidiary company
: |
·
Orbit Aviation Private Limited
[U62200CH2007PTC030864] ·
Gur-Baz Media Private Limited
[U32201PB2006PTC030737] ·
G-Next Media Private Limited
[U32201PB2006PTC030736] |
|
|
|
|
Enterprises which are
owned, or have significant influence of or are partners with Key management
personnel and their relatives : |
·
Dabwali Transport Company Limited
[U60231PB1943PLC003353] ·
Taj Travels Private Limited
[U63040PB1998PTC021519] |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,400,000 |
Equity Shares |
Rs. 100/- each |
Rs. 140.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,310,590 |
Equity Shares |
Rs. 100/- each |
Rs. 131.059
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
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 |
131.059 |
117.255 |
115.555 |
|
(b) Reserves & Surplus |
7337.628 |
7138.294 |
7314.007 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
0.605 |
7.523 |
62.473 |
|
Total
Shareholders’ Funds (1) + (2) |
7469.292 |
7263.072 |
7492.035 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
2928.185 |
3144.629 |
3103.796 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c)
Other long term liabilities |
315.440 |
315.752 |
259.349 |
|
(d)
long-term provisions |
3.485 |
3.480 |
2.210 |
|
Total
Non-current Liabilities (3) |
3247.110 |
3463.861 |
3365.355 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
159.439 |
159.951 |
232.048 |
|
(b)
Trade payables |
276.823 |
137.192 |
87.825 |
|
(c)
Other current liabilities |
52.578 |
64.203 |
118.420 |
|
(d)
Short-term provisions |
30.517 |
8.653 |
9.211 |
|
Total
Current Liabilities (4) |
519.357 |
369.999 |
447.504 |
|
|
|
|
|
|
TOTAL |
11235.759 |
11096.932 |
11304.894 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
9689.431 |
9574.809 |
10082.362 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
173.912 |
353.743 |
195.328 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
341.940 |
314.040 |
294.040 |
|
(c) Deferred tax assets
(net) |
451.404 |
265.543 |
182.411 |
|
(d) Long-term Loan
and Advances |
25.838 |
22.728 |
9.671 |
|
(e)
Other Non-current assets |
85.439 |
117.239 |
146.978 |
|
Total
Non-Current Assets |
10767.964 |
10648.102 |
10910.790 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
120.746 |
118.718 |
117.622 |
|
(c)
Trade receivables |
138.036 |
115.759 |
78.893 |
|
(d)
Cash and cash equivalents |
129.966 |
102.021 |
102.925 |
|
(e)
Short-term loans and advances |
70.215 |
107.629 |
93.363 |
|
(f)
Other current assets |
8.832 |
4.703 |
1.301 |
|
Total
Current Assets |
467.795 |
448.830 |
394.104 |
|
|
|
|
|
|
TOTAL |
11235.759 |
11096.932 |
11304.894 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2450.097 |
1899.569 |
|
|
|
|
Other Income |
57.123 |
98.370 |
|
|
|
|
TOTAL (A) |
2507.220 |
1997.939 |
1557.754 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
180.495 |
166.089 |
|
|
|
|
Employees benefits expense |
320.950 |
356.539 |
|
|
|
|
Other expenses |
1198.697 |
886.179 |
|
|
|
|
TOTAL (B) |
1700.142 |
1408.807 |
1123.903 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
807.078 |
589.132 |
433.851 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
439.031 |
453.470 |
522.540 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
368.047 |
135.662 |
(88.689) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
469.775 |
419.617 |
461.664 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
(101.728) |
(283.955) |
(550.353) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(154.051) |
(82.934) |
(101.668) |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
52.323 |
(201.021) |
(448.685) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
1043.812 |
1093.032 |
923.299 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
Basic
|
39.92 |
(181.30) |
NA
|
|
|
|
Diluted
|
44.62 |
(183.97) |
NA
|
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
|
|
|
|
|
Cash Generated from Operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net cash flows from (used in) operations |
935.904 |
372.818 |
566.432 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
2.14 |
(10.58) |
NA |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
32.94 |
31.01 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(0.99) |
(2.79) |
(5.18) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.01) |
(0.04) |
(0.07) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.41 |
0.45 |
0.45 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.90 |
1.21 |
0.88 |
Total Liability = Short-term Debt + Long-term Debt + Current Maturities
of Long-term debts
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
115.555 |
117.255 |
131.059 |
|
Reserves & Surplus |
7314.007 |
7138.294 |
7337.628 |
|
Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
62.473 |
7.523 |
0.605 |
|
Net
worth |
7492.035 |
7263.072 |
7469.292 |
|
|
|
|
|
|
Long-term borrowings |
3103.796 |
3144.629 |
2928.185 |
|
Short term borrowings |
232.048 |
159.951 |
159.439 |
|
Total
borrowings |
3335.844 |
3304.580 |
3087.624 |
|
Debt/Equity ratio |
0.445 |
0.455 |
0.413 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Total Income |
1557.754 |
1997.939 |
2507.220 |
|
|
|
28.258 |
25.490 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Total Income |
1557.754 |
1997.939 |
2507.220 |
|
Profit/ (Loss) |
(448.685) |
(201.021) |
52.323 |
|
|
(28.80%) |
(10.06%) |
2.09% |
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) |
No |
|
16 |
No. of employees |
No |
|
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 |
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 |
No |
|
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 |
10532838 |
17/04/2014 |
40,000,000.00 |
PUNJAB & SIND
BANK |
SECTOR 17B, BANK
SQUARE, CHANDIGARH, CHANDIGARH - |
C34431379 |
|
2 |
10509504 |
15/03/2014 |
923,700,000.00 |
PUNJAB NATIONAL
BANK |
ECE HOUSE,, K.G.
MARG, CONNAUGHT PLACE, NEW DELHI, DELHI - 110001, INDIA |
C11647567 |
|
3 |
10474682 |
18/12/2013 |
20,048,323.00 |
INDIABULLS HOUSING
FINANCE LIMITED |
M - 62 & 63,
FIRST FLOOR, CONNAUGHT PLACE, NEW DELHI, DELHI - 110001, INDIA |
B95118626 |
|
4 |
10354191 |
18/04/2012 |
130,000,000.00 |
INDIABULLS HOUSING
FINANCE LIMITED |
F-60 MALHOTRA BUILDING2ND
FLOOR CONNAUGHT PLACE, NEW DELHI, DELHI - 110001, INDIA |
B39147020 |
|
5 |
10354208 |
18/04/2012 |
260,000,000.00 |
INDIABULLS HOUSING
FINANCE LIMITED |
F-60 MALHOTRA
BUILDING2ND FLOOR CONNAUGHT PLACE, NEW DELHI, DELHI - 110001, INDIA |
B39149232 |
|
6 |
10067772 |
31/07/2007 |
2,740,000,000.00 |
PUNJAB & SIND
BANK |
SEC 17-B,
CHANDIGARH, CHANDIGARH - 160017, INDIA |
A22738496 |
|
7 |
80051671 |
17/04/2014 * |
190,000,000.00 |
PUNJAB & SIND
BANK |
SECTOR 17B, BANK SQUARE,
CHANDIGARH, CHANDIGARH - |
C34432187 |
|
8 |
80036556 |
09/07/2011 * |
2,740,000,000.00 |
PUNJAB AND SIND
BANK |
SECTOR 17B,
CHANDIGARH, CHANDIGARH - 160017, INDIA |
B16533747 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Loans and advances from related parties |
0.800 |
0.800 |
|
|
|
|
|
Total |
0.800 |
0.800 |
WORKING RESULTS
The new hotel “The Oberoi Hotel, Gurgaon” has started commercial
operation at optimum capacity and the results are improving gradually. The
Company is receiving good response from its existing customers and general
public. The demand of rooms etc. is on the increasing trend. The turnover and
profits are also increasing. The company is also running a travel/
transportation business under the name and style Indo Canadian Transport Co.
which is receiving a very good response and making good profits. The Company is
intending to expand its area of operation to cover the northern India.
FIXED ASSETS:
·
Land
·
Buildings
·
Plant and equipment
·
Furniture and fixtures
·
Vehicles
·
Office equipment
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. 63.51 |
|
|
1 |
Rs. 97.85 |
|
Euro |
1 |
Rs. 70.50 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUP |
|
|
|
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
|
50 |
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.