MIRA INFORM REPORT

 

 

Report No. :

326006

Report Date :

11.06.2015

 

IDENTIFICATION DETAILS

 

Name :

VTEX LIFE STYLE  UNIT OF V.TEX WVG AND MFG. MILLS LIMITED

 

 

Registered Office :

312, Ahura Centre, A - Wing, 82, Mahakali Caves Road, Andheri (East), Mumbai – 400096, Maharashtra

Tel. No.:

91-22-28209000

 

 

Country :

India

 

 

Financials (as on) :

31.03.2013

 

 

Date of Incorporation :

08.08.2003

 

 

Com. Reg. No.:

11-141667

 

 

Capital Investment / Paid-up Capital :

Rs. 31.450 Million

 

 

CIN No.:

[Company Identification No.]

U18100MH2003PLC141667

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AABCV7931K

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

Line of Business :

Manufacturer of textile fabric.

 

 

No. of Employees :

25 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (44)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

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

Satisfactory

 

Maximum Credit Limit :

USD 600000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having satisfactory track record.

 

As per ROC the date of balance sheet (i.e., financial filed) is shown as 31.03.2014 but the documents related to the financial for the year 2014 are not available from any sources.

 

As per the available financial of 2013, General financial position of the company seems to be normal and acceptable for business dealing.

 

Trade relations are reported as fair. Business is active. Payments terms are reported to be 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 (GEGENRAL DETAILS)

 

Name :

Mr. Sunil Sharma

Designation :

Head of Department

Contact No.:

91-9322830168

Date :

06.06.2015

 

 

LOCATIONS

 

Registered Office :

312, Ahura Centre, A - Wing, 82, Mahakali Caves Road, Andheri (East), Mumbai – 400096, Maharashtra, India

Tel. No.:

91-22-28209000

Mobile No.:

91-9322830168 (Mr. Sunil)

Fax No.:

91-22-28229000

E-Mail :

info@vtexlimited.com

 

 

DIRECTORS

 

AS ON 30.09.2014

 

Name :

Mr. Shantilal Kawar

Designation :

Director

Address :

10/150 Juhu Sai Darshan, 5th Road Extension,, Juhu Scheme, Vile Parle (West),, Mumbai, 400049, Maharashtra, India

Date of Birth/Age :

06.06.1957

Date of Appointment :

01.04.2006

DIN No.:

00372240

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U45209RJ1988PLC004422

VIJAY SHANTI BUILDCON LIMITED

Director

21-08-1992

21-08-1992

15-03-2013

Active

NO

2

L14219MH1988PLC179734

NEELKANTH ROCK-MINERALS LIMITED

Managing director

21-08-1992

21-08-1992

-

Active

NO

3

U45200MH2004PTC147650

VEEJOY HOMES PRIVATE LIMITED

Director

22-07-2004

22-07-2004

-

Active

NO

4

U18100MH2003PLC141667

V.TEX WVG. AND MFG. MILLS LIMITED

Director

01-04-2006

01-04-2006

-

Active

NO

5

U80301DL2006PLC149375

TIMES ACADEMY LIMITED.

Director

28-09-2006

28-09-2006

28-02-2008

Active

NO

6

U74899MH1982PTC196484

VISHESH HOLDINGS PRIVATE LIMITED

Director

09-11-2006

09-11-2006

-

Active

NO

7

U74999MH2007NPL168975

JAIN INTERNATIONAL TRADE ORGANISATION

Director

20-03-2007

20-03-2007

20-09-2014

Active

NO

8

U80301MH2008NPL185420

JITO ADMINISTRATIVE TRAINING FOUNDATION

Director

04-08-2008

04-08-2008

-

Active

NO

9

U45200MH2004PTC149508

VIJAYLAXMI DEVELOPERS PRIVATE LIMITED

Managing director

20-09-2008

20-09-2008

-

Active

NO

 

 

Name :

Mr. SAJJANRAJ KAWAR

Designation :

Director

Address :

Mahaveer Apartments, Flat No. 12, N.S. Road - 6, J.V.P.D. Scheme,Vile Parle (W),, Mumbai, 400049, Maharashtra, India

Date of Birth/Age :

07.07.1965

Date of Appointment :

08.08.2003

DIN No.:

00464788

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U18100MH2003PLC141667

V.TEX WVG.AND MFG. MILLS LIMITED

Director

08-08-2003

08-08-2003

-

Active

NO

2

U45200MH2004PTC147650

VEEJOY HOMES PRIVATE LIMITED

Director

22-07-2004

22-07-2004

-

Active

NO

3

U74899MH1982PTC196484

VISHESH HOLDINGS PRIVATE LIMITED

Director

09-11-2006

09-11-2006

-

Active

NO

 

 

Name :

Ms. SHWETA VIKASH KAWAR

Designation :

Additional Director

Address :

150 Juhu Sai Darshan,, 5th Extn.Road,Jvpd,Vile Parle (W), Mumbai, 400049, Maharashtra, India

Date of Appointment :

12.03.2015

DIN No.:

07119867

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U18100MH2003PLC141667

V.TEX WVG. AND MFG. MILLS LIMITED

Additional director

12-03-2015

12-03-2015

-

Active

NO

2

L14219MH1988PLC179734

NEELKANTH ROCK-MINERALS LIMITED

Additional director

30-03-2015

30-03-2015

-

Active

NO

 

 

Name :

Mr.Kusum Kawar

Designation :

Additional Director

Address :

115, Tilak Nagar,, Pali Marwar,, Pali, 306401, Rajasthan, India

Date of Appointment :

31.03.2015

DIN No.:

07145382

 

 

KEY EXECUTIVES

 

Name :

Mr. Sunil Sharma

Designation :

Head of Department

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2014

 

Names of Shareholders

No. of Shares

Vijaylaxmi Developers And Securities Private Limited Business

100000

Shantilal Kawar

354500

Sunil Kawar

279500

Anii Kawar

279500

Sohanlal Kawar

277500

Gautamchand Kawar

27750

Sajjanraj Kawar

277470

Noratmal Kawar

257400

Kusum Kawar

25600

Sushila Kawar

18000

Anii Kawar HUF

7000

Sunil Kumar Kawar Huf

7000

Chetan Kawar

6500

Sharmila Kawar

6500

Sajjanraj Kawar Huf

6500

 

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 30.09.2014

 

Category

Percentage

Bodies corporate

31.80

Directors or relatives of Directors

68.20

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of textile fabric.

 

 

Products :

Item Code No.

Product Description

53071090

Yarn Of Jute Or Of Other Textile Bast

Fibres Of Heading 5303

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Available

 

 

Imports :

Not Available

 

 

Terms :

 

Selling :

Cash and Cheque

 

 

Purchasing :

Cash and Cheque

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

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 :

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 :

25 (Approximately)

 

 

Bankers :
  • Rupee Co-op. Bank Limited, 257/A, Jagannath Shankar Seth, Girgaon, Mumbai – 400004, Maharashtra, India

 

Banker Name

Bank of India

Branch Address

Andheri Large Corporation Branch, M. D. I. Building,28,S. V. Road (Branch), Andheri (West), Mumbai -400058, Maharashtra, 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

 

 

Facilities :

(Rs. In Million)

SECURED LOAN

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

Term loans from banks

29.823

35.369

Term loans from others

0.153

1.040

SHORT TERM BORROWING

 

 

Loans repayable on demand

283.963

246.497

Total

313.939

282.906

 

Auditors :

 

Name :

R. V. Patel & Company

Chartered Accountants

Address :

Shop No 13, Suyog Mandir Aparts, Ram Mandir Road, Bnhai, Borivali, Mumbai, Maharashtra, India

PAN N Income-tax PAN of auditor or auditor's firm :

AAHFR7380M

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Enterprises which are

owned, or have significant

influence of or are partners

with Key management

personnel and their relatives:
  • Pragati Fabrics Private Limited, India (U51310MH1992PTC065007)
  • Padamshree Wvg And Manufacturing  Mills Private Limited, India (U17116MH2001PTC132245)
  • Vi Jaylaxmi Developers And Securities Private Limited, India (U17100MH2000PTC124193)
  • V Tex Overseas Private Limited, India (U18101MH2003PTC142445)
  • Navkar Developers JV, India
  • Vikash Industries, India

 

 

subsidiary company :

 

Vishesh Holdings Private Limited, India (U74899MH1982PTC196484)

 

 

 

CAPITAL STRUCTURE

 

AS ON 30.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

5000000

Equity Shares

Rs.10/- each

Rs.50.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

3145070

Equity Shares

Rs.10/- each

Rs.31.450 Million

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

31.03.2013

31.03.2012

31.03.2011

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

31.450

31.450

31.450

(b) Reserves & Surplus

164.632

154.630

146.519

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

0.000

0.000

29.309

Total Shareholders’ Funds (1) + (2)

196.082

186.080

207.278

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

29.976

36.409

41.829

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

0.000

0.000

0.000

Total Non-current Liabilities (3)

29.976

36.409

41.829

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

392.374

350.373

456.339

(b) Trade payables

89.514

57.045

113.971

(c) Other current liabilities

19.384

14.854

27.003

(d) Short-term provisions

6.271

4.622

4.650

Total Current Liabilities (4)

507.543

426.894

601.963

 

 

 

 

TOTAL

733.601

649.383

851.070

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

31.581

22.778

18.741

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

13.776

8.289

8.058

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

10.293

10.292

10.292

(c) Deferred tax assets (net)

1.061

0.838

0.364

(d)  Long-term Loan and Advances

9.229

14.831

1.563

(e) Other Non-current assets

0.320

0.028

0.061

Total Non-Current Assets

66.260

57.056

39.079

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

333.620

331.473

521.390

(c) Trade receivables

316.304

224.624

243.857

(d) Cash and cash equivalents

3.308

4.214

2.332

(e) Short-term loans and advances

14.109

32.016

44.412

(f) Other current assets

0.000

0.000

0.000

Total Current Assets

667.341

592.327

811.991

 

 

 

 

TOTAL

733.601

649.383

851.070

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2013

31.03.2012

31.03.2011

 

SALES

 

 

 

 

Income

1298.338

1198.708

1299.789

 

Other Income

2.306

4.653

3.021

 

TOTAL (A)

1300.644

1203.361

1302.810

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

711.821

553.169

975.405

 

Purchases of Stock-in-Trade

112.854

40.361

103.345

 

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

(18.633)

263.732

(261.013)

 

Employees benefits expense

19.182

20.379

13.686

 

Other expenses

416.341

273.306

421.913

 

TOTAL (B)

1241.565

1150.947

1253.336

 

 

 

 

 

Less

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

59.079

52.414

49.474

 

 

 

 

 

Less

FINANCIAL EXPENSES (D)

38.836

35.964

32.030

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)

20.243

16.450

17.444

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION (F)

3.980

4.133

4.070

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX (E-F)   (G)

16.263

12.317

13.374

 

 

 

 

 

Less

TAX (H)

6.260

4.206

4.717

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX  (G-H)   (I)

10.003

8.111

8.657

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

2.63

2.58

2.75

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2013

31.03.2012

31.03.2011

Current Maturities of Long term debt

0.174

7.261

12.959

Cash generated from operations

NA

NA

NA

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2013

31.03.2012

31.03.2011

Net Profit Margin

(PAT / Sales)

(%)

0.77

0.68

0.67

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

4.55

4.37

3.81

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

2.30

1.96

1.61

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.08

0.07

0.06

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

2.15

2.12

2.47

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.31

1.39

1.35

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2011

31.03.2012

31.03.2013

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

31.450

31.450

31.450

Reserves & Surplus

146.519

154.630

164.632

 Share Application money pending allotment

29.309

0.000

0.000

Net worth

207.278

186.080

196.082

 

 

 

 

long-term borrowings

41.829

36.409

29.976

Short term borrowings

456.339

350.373

392.374

Current maturities of long-term debts

12.959

7.261

0.174

Total borrowings

511.127

394.043

422.524

Debt/Equity ratio

2.466

2.118

2.155

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2011

31.03.2012

31.03.2013

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

1299.789

1198.708

1298.338

 

 

(7.777)

8.311

 

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2011

31.03.2012

31.03.2013

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

1299.789

1198.708

1298.338

Profit

8.657

8.111

10.003

 

0.67%

0.68%

0.77%

 

 

 

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

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

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

 

 

NOTE: Registered office of the company has been shifted from to 213 2nd Floor, Daulat Bhavan, 407 Kalbadevi Road, Mumbai – 400002, Maharashtra, India the present address w.e.f. 26.07.2007

 

 

OPERATIONS:

 

During the year, the company has achieved a Sales (Incl. of Other Income) of Rs. 1300.645 Million (P.Y. 1203.361 Million) and Profit of Rs.10.003 Million (P.Y. 8.110 Million).

                        

FUTURE OUTLOOK:

 

The Directors are happy to inform you that the products of the Company enjoy a good reputation and acceptance in the domestic market. The directors are confident of achieve the target of sales in coming year. Enhanced marketing efforts expansion of distribution network will improve the market reach of the company.

 

 

UNSECURED LOAN

 

PARTICULARS

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

SHORT TERM BORROWING

 

 

Deposits from others

6.262

5.999

Other loans and advances, others

102.149

97.877

Total

108.411

103.876

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10460552

27/10/2014 *

303,400,000.00

HDFC BANK LIMITED

HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA

C34245993

 

* Date of charge modification

 

 

 

FIXED ASSETS

 

Tangible 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.63.89

UK Pound

1

Rs.98.90

Euro

1

Rs.72.31

 

 

INFORMATION DETAILS

 

Information Gathered by :

GAY

 

 

Analysis Done by :

DIV

 

 

Report Prepared by :

GTA

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILITY

1~10

5

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--RESERVES

1~10

5

--CREDIT LINES

1~10

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

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

 

44

 

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.