|
Report No. : |
334652 |
|
Report Date : |
29.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
AVANI RESOURCES PTE. LTD. |
|
|
|
|
Registered Office : |
143, Cecil Street, 08-03/04, Gb Building, 069542 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation : |
07.12.2010 |
|
|
|
|
Com. Reg. No.: |
201025904-R |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Trading of commodity products. |
|
|
|
|
No. of Employee : |
10 [2006] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No complaints |
|
Litigation : |
Clear |
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) |
|
Singapore |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
SINGAPORE - ECONOMIC OVERVIEW
Singapore has a highly developed and successful free-market economy. It enjoys a remarkably open and corruption-free environment, stable prices, and a per capita GDP higher than that of most developed countries. Unemployment is very low. The economy depends heavily on exports, particularly of consumer electronics, information technology products, medical and optical devices, pharmaceuticals, and on its vibrant transportation, business, and financial services sectors. The economy contracted 0.6% in 2009 as a result of the global financial crisis, but has continued to grow since 2010 on the strength of renewed exports. Growth in 2014 was slower at 2.9%, largely a result of soft demand for exports amid a sluggish global economy and weak growth in Singapore’s manufacturing sector. The government is attempting to restructure Singapore’s economy by weaning its dependence on foreign labor, addressing weak productivity, and increasing Singaporean wages. Singapore has attracted major investments in pharmaceuticals and medical technology production and will continue efforts to strengthen its position as Southeast Asia's leading financial and high-tech hub. Singapore is a member of the 12-nation Trans-Pacific Partnership free trade negotiations, the Regional Comprehensive Economic Partnership negotiations with the nine other ASEAN members plus Australia, China, India, Japan, South Korea and New Zealand, and in 2015, Singapore will form, with the other ASEAN members, the ASEAN Economic Community.
|
Source
: CIA |
The Subject is a
private limited company and is allowed to have a minimum of one and a maximum
of forty-nine shareholders. As a private limited company, the Subject must have
at least two directors. A private limited company is a separate legal entity
from its shareholders. As a separate legal entity, the Subject is capable of
owning assets, entering into contracts, sue or be sued by other companies.
The liabilities of the shareholders are to the extent of the equity they have
taken up and the creditors cannot claim on shareholders' personal assets even
if the Subject is insolvent. The Subject is governed by the Companies Act and
the company must file its annual returns, together with its financial
statements with the Registrar of Companies. The Subject is
principally engaged in the (as a / as an) trading of commodity products. The immediate
holding company of the Subject is TERRA MIN RESOURCES PVT. LTD., a company
incorporated in INDIA. Share Capital
History
The major
shareholder(s) of the Subject are shown as follows :
+ Also Director DIRECTORS
DIRECTOR 1
DIRECTOR 2
DIRECTOR 3
DIRECTOR 4
DIRECTOR 5
MANAGEMENT
AUDITOR
COMPANY
SECRETARIES
BANKING
ENCUMBRANCE
(S)
LITIGATION
CHECK AGAINST SUBJECT
PAYMENT
RECORD
CLIENTELE
OPERATIONS
Other Information:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-62211270 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
143, CECIL STREET, NO. 08-03/04 G B BUILDING SINGAPORE 069542 |
|
Current Address |
: |
143, CECIL STREET, 08-03/04, GB BUILDING, 069542, SINGAPORE. |
|
Match |
: |
YES |
Other
Investigations
On 13th May 2015 we contacted one of the staff from the Subject and she
provided some information.
|
Profitability |
||||||
|
Turnover |
: |
Erratic |
[ |
2012 - 2014 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
2012 - 2014 |
] |
|
|
Return on Shareholder Funds |
: |
Favourable |
[ |
50.33% |
] |
|
|
Return on Net Assets |
: |
Favourable |
[ |
43.19% |
] |
|
|
The fluctuating turnover reflects the fierce competition among the existing
and new market players.The higher profit could be attributed to the
increase in turnover. Generally the Subject was profitable. The favourable
return on shareholders' funds and return on net assets indicate that the
Subject's management was efficient in utilising the assets to generate
returns. |
||||||
|
Working Capital Control |
||||||
|
Stock Ratio |
: |
Favourable |
[ |
12 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
22 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
6 Days |
] |
|
|
The Subject's stocks were moving fast thus reducing its holding
cost. This had reduced funds being tied up in stocks. The favourable
debtors' days could be due to the good credit control measures implemented by
the Subject. The Subject had a favourable creditors' ratio where the
Subject could be taking advantage of the cash discounts and also wanting to
maintain goodwill with its creditors. |
||||||
|
Liquidity |
||||||
|
Liquid Ratio |
: |
Favourable |
[ |
1.01 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.14 Times |
] |
|
|
A minimum liquid ratio of 1 should be maintained by the Subject in
order to assure its creditors of its ability to meet short term obligations
and the Subject was in a good liquidity position. Thus, we believe the
Subject is able to meet all its short term obligations as and when they
fall due. |
||||||
|
Solvency |
||||||
|
Interest Cover |
: |
Favourable |
[ |
16.67 Times |
] |
|
|
Gearing Ratio |
: |
Unfavourable |
[ |
4.73 Times |
] |
|
|
The interest cover showed that the Subject was able to service the
interest. The favourable interest cover could indicate that the Subject was
making enough profit to pay for the interest accrued. The Subject was
highly geared, thus it had a high financial risk. The Subject was dependent
on loans to finance its business needs. In times of economic downturn and /
or high interest rate, the Subject will become less profitable and
competitive than other firms in the same industry, which are lowly geared.
This is because the Subject has to service the interest and to repay the
loan, which will erode part of its profits. The profits will fluctuate depending
on the Subject's turnover and the interest it needs to pay. |
||||||
|
Overall Assessment : |
||||||
|
Although the turnover was erratic, the Subject had maintained a steady
growth in its profit. This indicate the management's efficiency in
controlling its costs and profitability. The Subject was in good liquidity
position with its total current liabilities well covered by its total
current assets. With its current net assets, the Subject should be able to
repay its short term obligations. With the favourable interest cover, the
Subject could be able to service all the accrued interest without facing
any difficulties. The Subject's gearing level was high and its going concern
will be in doubt if there is no injection of additional shareholders' funds
in times of economic downturn and / or high interest rates. |
||||||
|
Overall financial condition of the
Subject : FAIR |
||||||
|
Major Economic Indicators : |
2009 |
2010 |
2011 |
2012 |
2013 |
|
|
|||||
|
Population (Million) |
4.98 |
5.08 |
5.18 |
5.31 |
5.40 |
|
Gross Domestic Products ( % ) |
(0.8) |
14.5 |
4.9 |
1.3 |
3.7 |
|
Consumer Price Index |
0.6 |
2.8 |
5.2 |
4.6 |
2.4 |
|
Total Imports (Million) |
356,299.3 |
423,221.8 |
459,655.1 |
474,554.0 |
466,762.0 |
|
Total Exports (Million) |
391,118.1 |
478,840.7 |
514,741.2 |
510,329.0 |
513,391.0 |
|
|
|||||
|
Unemployment Rate (%) |
3.2 |
2.2 |
2.1 |
2.0 |
1.9 |
|
Tourist Arrival (Million) |
9.68 |
11.64 |
13.17 |
14.49 |
15.46 |
|
Hotel Occupancy Rate (%) |
75.8 |
85.6 |
86.5 |
86.4 |
86.3 |
|
Cellular Phone Subscriber (Million) |
1.37 |
1.43 |
1.50 |
1.52 |
1.97 |
|
|
|||||
|
Registration of New Companies (No.) |
26,414 |
29,798 |
32,317 |
31,892 |
37,288 |
|
Registration of New Companies (%) |
4.3 |
12.8 |
8.5 |
(1.3) |
9.8 |
|
Liquidation of Companies (No.) |
22,393 |
15,126 |
19,005 |
17,218 |
17,369 |
|
Liquidation of Companies (%) |
113.4 |
(32.5) |
25.6 |
9.4 |
(5.3) |
|
|
|||||
|
Registration of New Businesses (No.) |
26,876 |
23,978 |
23,494 |
24,788 |
22,893 |
|
Registration of New Businesses (%) |
8.15 |
(10.78) |
2.02 |
5.51 |
1.70 |
|
Liquidation of Businesses (No.) |
23,552 |
24,211 |
23,005 |
22,489 |
22,598 |
|
Liquidation of Businesses (%) |
11.4 |
2.8 |
(5) |
(2.2) |
0.5 |
|
|
|||||
|
Bankruptcy Orders (No.) |
2,058 |
1,537 |
1,527 |
1,748 |
1,992 |
|
Bankruptcy Orders (%) |
(11.5) |
(25.3) |
(0.7) |
14.5 |
14.0 |
|
Bankruptcy Discharges (No.) |
3,056 |
2,252 |
1,391 |
1,881 |
2,584 |
|
Bankruptcy Discharges (%) |
103.7 |
(26.3) |
(38.2) |
35.2 |
37.4 |
|
|
|||||
|
INDUSTRIES ( % of Growth ) : |
|||||
|
Agriculture |
|||||
|
Production of Principal Crops |
3.25 |
(0.48) |
4.25 |
3.64 |
- |
|
Fish Supply & Wholesale |
(1.93) |
(10.5) |
12.10 |
(0.5) |
- |
|
|
|||||
|
Manufacturing * |
71.5 |
92.8 |
100.0 |
100.3 |
102.0 |
|
Food, Beverages & Tobacco |
90.4 |
96.4 |
100.0 |
103.5 |
103.5 |
|
Textiles |
145.9 |
122.1 |
100.0 |
104.0 |
87.1 |
|
Wearing Apparel |
211.0 |
123.3 |
100.0 |
92.1 |
77.8 |
|
Leather Products & Footwear |
79.5 |
81.8 |
100.0 |
98.6 |
109.8 |
|
Wood & Wood Products |
101.4 |
104.0 |
100.0 |
95.5 |
107.4 |
|
Paper & Paper Products |
95.4 |
106.1 |
100.0 |
97.4 |
103.2 |
|
Printing & Media |
100.9 |
103.5 |
100.0 |
93.0 |
86.1 |
|
Crude Oil Refineries |
96.4 |
95.6 |
100.0 |
99.4 |
93.5 |
|
Chemical & Chemical Products |
80.3 |
97.6 |
100.0 |
100.5 |
104.1 |
|
Pharmaceutical Products |
49.1 |
75.3 |
100.0 |
109.7 |
107.2 |
|
Rubber & Plastic Products |
101.2 |
112.3 |
100.0 |
96.5 |
92.9 |
|
Non-metallic Mineral |
91.9 |
92.5 |
100.0 |
98.2 |
97.6 |
|
Basic Metals |
92.6 |
102.2 |
100.0 |
90.6 |
76.5 |
|
Fabricated Metal Products |
90.8 |
103.6 |
100.0 |
104.3 |
105.1 |
|
Machinery & Equipment |
57.3 |
78.5 |
100.0 |
112.9 |
114.5 |
|
Electrical Machinery |
86.8 |
124.1 |
100.0 |
99.3 |
108.5 |
|
Electronic Components |
85.2 |
113.6 |
100.0 |
90.6 |
94.3 |
|
Transport Equipment |
96.0 |
94.0 |
100.0 |
106.3 |
107.5 |
|
|
|||||
|
Construction |
(36.9) |
14.20 |
20.50 |
28.70 |
- |
|
Real Estate |
1.4 |
21.3 |
25.4 |
31.9 |
- |
|
|
|||||
|
Services |
|||||
|
Electricity, Gas & Water |
1.70 |
4.00 |
7.00 |
6.30 |
- |
|
Transport, Storage & Communication |
3.90 |
12.80 |
7.40 |
5.30 |
- |
|
Finance & Insurance |
(16.4) |
(0.4) |
8.90 |
0.50 |
- |
|
Government Services |
4.50 |
9.70 |
6.90 |
6.00 |
- |
|
Education Services |
0.10 |
(0.9) |
(1.4) |
0.30 |
- |
|
|
|||||
|
* Based on Index of Industrial Production (2011 = 100) |
|
INDUSTRY : |
TRADING |
|
The wholesale and retail trade sectors have expanded by 2.0% in the third
quarter of 2014, extending the 1.8 per cent growth in the previous quarter.
In 2013, the wholesale and retail sector expanded by 5.0%, after declining
by 1.4% the year before. Growth of the sector was driven by the wholesale
trade segment. |
|
|
The domestic wholesale trade index has increased by 3.2% in the
fourth quarter of 2013, moderating from the 6.6% growth in the previous
quarter. The slower growth was due to a decline in the sales of furniture
and household equipment (-12%) and petroleum and petroleum products
(-0.6%). For the full year, the domestic wholesale trade index grew by 5.2%
reversing the 2.2% decline in 2012. On the other hand, the foreign
wholesale trade index has increased by a slower pace of 5.6% in the fourth
quarter, compared to the 7.7% expansion in the preceding quarter. The
slowdown was due to a fall in the sales of telecommunication equipment and
computer (-3.8%) and petroleum and petroleum products (-2.5%). For the full
year, the growth of the foreign wholesale trade index moderated slightly to
8.6% from 9.1% in the previous year. |
|
|
In the fourth quarter of 2013, retail sales volume fell by 6.2%,
extending the 5.6% decline in the previous quarter. Excluding motor vehicles,
retail sales volume increased by 0.4%, a slower pace of expansion as
compared to the 1.6% gain in the preceding quarter. The sales volume of
motor vehicles fell by 33% in the fourth quarter of 2013, extending the 32%
decline in the previous quarter. Meanwhile, the sales of several
discretionary items also fell in the fourth quarter of 2013. For instance,
the sales of telecommunications apparatus and computers fell by 12%, while
the sales of furniture and household equipment declined by 5.4%. |
|
|
For the full year, retail sales volume contracted by 4.3%, a
reversal from the 1.3% expansion in 2012. Excluding motor vehicle sales,
the retail sales volume grew by 1.1% in 2013, slower than the 1.7% increase
in 2012. Watches and jewellery recorded the largest increase (11%) in sales
in 2013, followed by optical goods and book (3%) and medical goods and
toiletries (3%). By contrast, the sales of telecommunications apparatus and
computer (-7.3%), furniture and household equipment (-4.2%) and petrol service
stations (-1.4) declined in 2013. |
|
|
OVERALL INDUSTRY OUTLOOK : AVERAGE GROWTH |
|
|
|
|
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE
FINANCIAL REPORTING STANDARDS. |
|
Financial Year End |
2014-03-31 |
2013-03-31 |
2012-03-31 |
|
Months |
12 |
12 |
4 |
|
Consolidated Account |
Company |
Company |
Company |
|
Audited Account |
YES |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
|
Financial Type |
FULL |
FULL |
FULL |
|
Currency |
USD |
USD |
USD |
|
TURNOVER |
654,961,326 |
685,418,476 |
302,870,987 |
|
Other Income |
2,400,534 |
1,371,141 |
552,189 |
|
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
657,361,860 |
686,789,617 |
303,423,176 |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
12,675,691 |
8,151,833 |
7,927,905 |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
12,675,691 |
8,151,833 |
7,927,905 |
|
Taxation |
(1,253,723) |
(1,500,000) |
(841,000) |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
11,421,968 |
6,651,833 |
7,086,905 |
|
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||
|
As previously reported |
13,238,738 |
7,086,905 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
As restated |
13,238,738 |
7,086,905 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
24,660,706 |
13,738,738 |
7,086,905 |
|
DIVIDENDS - Ordinary (paid & proposed) |
(2,600,000) |
(500,000) |
- |
|
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
22,060,706 |
13,238,738 |
7,086,905 |
|
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
|||
|
Term loan / Borrowing |
119,200 |
261,018 |
- |
|
Others |
689,842 |
671,500 |
576,767 |
|
---------------- |
---------------- |
---------------- |
|
|
809,042 |
932,518 |
576,767 |
|
|
============= |
============= |
============= |
|
|
DEPRECIATION (as per notes to P&L) |
243,005 |
21,638 |
15,122 |
|
---------------- |
---------------- |
---------------- |
|
|
243,005 |
21,638 |
15,122 |
|
|
============= |
============= |
============= |
|
ASSETS EMPLOYED: |
|||
|
FIXED ASSETS |
8,530,295 |
31,016 |
46,430 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
8,530,295 |
31,016 |
46,430 |
|
Stocks |
20,646,180 |
16,201,512 |
17,520,194 |
|
Trade debtors |
40,142,152 |
29,099,725 |
5,527,236 |
|
Other debtors, deposits & prepayments |
1,078,658 |
16,534,430 |
35,199 |
|
Short term deposits |
24,234,887 |
30,978,350 |
29,800,640 |
|
Interest receivable |
7,380 |
555,589 |
651 |
|
Amount due from related companies |
15,500,925 |
2,851,518 |
- |
|
Cash & bank balances |
42,265,341 |
19,927,355 |
7,661,690 |
|
Others |
37,449,128 |
33,125,986 |
1,503,442 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
181,324,651 |
149,274,465 |
62,049,052 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
189,854,946 |
149,305,481 |
62,095,482 |
|
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||
|
Trade creditors |
10,411,378 |
5,818,859 |
4,463,394 |
|
Other creditors & accruals |
7,577,531 |
7,771,826 |
1,862,983 |
|
Short term borrowings/Term loans |
40,632,507 |
58,599,796 |
23,152,778 |
|
Deposits from customers |
80,541 |
- |
- |
|
Bill & acceptances payable |
58,166,176 |
12,449,397 |
- |
|
Amounts owing to related companies |
1,988,320 |
1,618,579 |
900,000 |
|
Amounts owing to director |
- |
29,100 |
- |
|
Provision for taxation |
1,992,012 |
1,500,000 |
841,000 |
|
Other liabilities |
37,781,000 |
41,647,331 |
1,450,000 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
158,629,465 |
129,434,888 |
32,670,155 |
|
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
22,695,186 |
19,839,577 |
29,378,897 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
31,225,481 |
19,870,593 |
29,425,327 |
|
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||
|
Ordinary share capital |
1,000,000 |
1,000,000 |
1,000,000 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
1,000,000 |
1,000,000 |
1,000,000 |
|
General reserve |
(367,449) |
159,633 |
(8,800) |
|
Retained profit/(loss) carried forward |
22,060,706 |
13,238,738 |
7,086,905 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
21,693,257 |
13,398,371 |
7,078,105 |
|
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
22,693,257 |
14,398,371 |
8,078,105 |
|
Long term loans |
8,532,224 |
5,472,222 |
21,347,222 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
8,532,224 |
5,472,222 |
21,347,222 |
|
---------------- |
---------------- |
---------------- |
|
|
31,225,481 |
19,870,593 |
29,425,327 |
|
|
============= |
============= |
============= |
|
|
TYPES OF FUNDS |
|||
|
Cash |
66,500,228 |
50,905,705 |
37,462,330 |
|
Net Liquid Funds |
8,334,052 |
38,456,308 |
37,462,330 |
|
Net Liquid Assets |
2,049,006 |
3,638,065 |
11,858,703 |
|
Net Current Assets/(Liabilities) |
22,695,186 |
19,839,577 |
29,378,897 |
|
Net Tangible Assets |
31,225,481 |
19,870,593 |
29,425,327 |
|
Net Monetary Assets |
(6,483,218) |
(1,834,157) |
(9,488,519) |
|
BALANCE SHEET ITEMS |
|||
|
Total Borrowings |
107,330,907 |
76,521,415 |
44,500,000 |
|
Total Liabilities |
167,161,689 |
134,907,110 |
54,017,377 |
|
Total Assets |
189,854,946 |
149,305,481 |
62,095,482 |
|
Net Assets |
31,225,481 |
19,870,593 |
29,425,327 |
|
Net Assets Backing |
22,693,257 |
14,398,371 |
8,078,105 |
|
Shareholders' Funds |
22,693,257 |
14,398,371 |
8,078,105 |
|
Total Share Capital |
1,000,000 |
1,000,000 |
1,000,000 |
|
Total Reserves |
21,693,257 |
13,398,371 |
7,078,105 |
|
LIQUIDITY (Times) |
|||
|
Cash Ratio |
0.42 |
0.39 |
1.15 |
|
Liquid Ratio |
1.01 |
1.03 |
1.36 |
|
Current Ratio |
1.14 |
1.15 |
1.90 |
|
WORKING CAPITAL CONTROL (Days) |
|||
|
Stock Ratio |
12 |
9 |
21 |
|
Debtors Ratio |
22 |
15 |
7 |
|
Creditors Ratio |
6 |
3 |
5 |
|
SOLVENCY RATIOS (Times) |
|||
|
Gearing Ratio |
4.73 |
5.31 |
5.51 |
|
Liabilities Ratio |
7.37 |
9.37 |
6.69 |
|
Times Interest Earned Ratio |
16.67 |
9.74 |
14.75 |
|
Assets Backing Ratio |
31.23 |
19.87 |
29.43 |
|
PERFORMANCE RATIO (%) |
|||
|
Operating Profit Margin |
1.94 |
1.19 |
2.62 |
|
Net Profit Margin |
1.74 |
0.97 |
2.34 |
|
Return On Net Assets |
43.19 |
45.72 |
28.90 |
|
Return On Capital Employed |
43.19 |
45.72 |
28.90 |
|
Return On Shareholders' Funds/Equity |
50.33 |
46.20 |
87.73 |
|
Dividend Pay Out Ratio (Times) |
0.23 |
0.08 |
0.00 |
|
NOTES TO ACCOUNTS |
|||
|
Contingent Liabilities |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.03 |
|
|
1 |
Rs.99.72 |
|
Euro |
1 |
Rs.70.88 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
TPT |
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 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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.