MIRA INFORM REPORT
|
Report No. : |
326876 |
|
Report Date : |
15.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
ILPEA PARAMOUNT LIMITED (w.e.f 13.08.2003) |
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Formerly Known
As : |
ILPEA PARAMOUNT PRIVATE LIMITED |
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Registered
Office : |
102, Thaper Arcade,47, Kalu Sarai, New Delhi - 110016 |
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Tel. No.: |
91-129-4062291 |
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Country : |
India |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
22.10.1996 |
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Com. Reg. No.: |
55-082810 |
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Capital
Investment / Paid-up Capital : |
Rs. 132.990 Million |
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|
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CIN No.: [Company Identification
No.] |
U25209DL1996PLC082810 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Company is engaged in manufacturing and supply of spliced plastic gaskets (magnetic and nonmagxretic), r11t.,tded products, rubber products and rigid PVC profiles for the white goods industry. |
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|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (11) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. It was incorporated in 1996, is joint venture between “Industries
Ilpea, Italy” and “”Paramount Polymers Private Limited”. Subjects product profile consist of magnetic gasket, polyvinyl
chloride (PVC) rigid profiles, injection moulded components and rubber
components for the white goods industry. Management of the company has failed to file its financials with the
government department since FY 2012. As per the financials of 2012, there are accumulated losses recorded
by the company. Business is active as per the status shown in the registrar of
companies. Payment terms are reported to be unknown. In the view of lack of latest financial information, the subject can
be considered for business dealings on fully safe and secured trade terms and
conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
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Rating |
Long term rating = B (Suspended) |
|
Rating Explanation |
Risk prone credit quality and carries very high credit risk. |
|
Date |
02.04.2015 |
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 DENIED BY
|
Name : |
Mr. M. Khurana |
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Designation : |
Operation Head |
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Contact No.: |
91-9310586320 |
|
Date : |
15.06.2015 |
LOCATIONS
|
Registered Office : |
102, Thaper Arcade,47, Kalu Sarai, New Delhi – 110016, India |
|
Tel. No.: |
91-129-4062291 |
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Mobile No.: |
91-9310586320 (Mr. M. Khurana) |
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Fax No.: |
91-1294062294 |
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E-Mail : |
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Website : |
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Factory : |
Pune, Maharashtra, India |
DIRECTORS
As on 31.12.2012
|
Name : |
Mr. Aneesh Khurana |
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Designation : |
Managing director |
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Address : |
H. No. 1326, Sector-14, Faridabad - 121007, Haryana, India |
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Date of Birth/Age : |
12.05.1967 |
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Date of Appointment : |
10.04.2009 |
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Qualification : |
B.E, London School of Polymer and Technology |
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DIN No.: |
00009582 |
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Other Directorship:
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Name : |
Mrs. Reetika Khurana |
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Designation : |
Director |
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Address : |
H. No. 1326, Sector-14, Faridabad - 121007, Haryana, India |
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Date of Birth/Age : |
28.01.1970 |
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Date of Appointment : |
10.04.1997 |
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Qualification : |
B.A |
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DIN No.: |
00009589 |
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Other Directorship:
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Name : |
Mr. Valerio Bozzetti |
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Designation : |
Director |
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Address : |
Via Monte Resegone, 15-22070 Guanzate Como, Guanzate,
22070, Italy |
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Date of Birth/Age : |
18.04.1972 |
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Date of Appointment : |
06.10.2004 |
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DIN No.: |
00377997 |
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KEY EXECUTIVES
|
Name : |
Mr. Ajay Kumar Siwach |
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Designation : |
Secretary |
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Address : |
House No. 727, Sector 9, Faridabad - 121007, Haryana,
India |
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Date of Appointment : |
19.08.2014 |
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PAN No.: |
BBEPS2842C |
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|
Name : |
Ms. Deepika Sharma |
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Designation : |
Company Secretary |
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|
Name : |
Mr. Rohitash K. Dhankhar |
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Designation : |
Financial controller |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.12.2012
|
Names of Shareholders |
|
No. of Shares |
|
Aneesh Khurna |
|
2 |
|
Ilpea B V., Netherland |
|
6782509 |
|
Paramount Polymers Private Limited, India |
|
6516328 |
|
Reetika Khurana |
|
50 |
|
Rahul Saluja |
|
50 |
|
Gaurav Saluja |
|
50 |
|
Tanisha Khurana |
|
50 |
|
|
|
|
|
Total |
|
13299039 |
Equity Share Break up (Percentage of Total Equity)
As on 31.12.2012
|
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 |
51.00 |
|
Bodies corporate |
49.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Company is engaged in manufacturing and supply of spliced plastic gaskets (magnetic and nonmagxretic), r11t.,tded products, rubber products and rigid PVC profiles for the white goods industry. |
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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 : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
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Facilities : |
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Auditors : |
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|
Name : |
BSSR and Company Chartered Accountants |
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Address : |
8th Floor, Tower-B, DLF, Building-10, DLF Cyber City Phase - II Gurgaon, Haryana, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AADFB6889R |
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Memberships : |
-- |
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Collaborators : |
-- |
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Associates : |
Paramount Polymers Private Limited |
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Holding company : |
Ilpea B.V., Netherland |
CAPITAL STRUCTURE
As on 31.12.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
13,500,000 |
Equity Shares |
Rs.10/- each |
Rs. 135.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
13,299,039 |
Equity Shares |
Rs.10/- each |
Rs.132.990
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
132.990 |
85.422 |
|
(b) Reserves & Surplus |
|
(15.415) |
12.123 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
23.305 |
|
Total
Shareholders’ Funds (1) + (2) |
|
117.575 |
120.850 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
28.727 |
32.387 |
|
(b) Deferred tax liabilities (Net) |
|
6.763 |
10.653 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
6.781 |
6.924 |
|
Total Non-current
Liabilities (3) |
|
42.271 |
49.964 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
123.988 |
129.382 |
|
(b) Trade
payables |
|
93.304 |
146.324 |
|
(c) Other
current liabilities |
|
25.628 |
23.330 |
|
(d) Short-term
provisions |
|
0.409 |
1.022 |
|
Total Current
Liabilities (4) |
|
243.329 |
300.058 |
|
|
|
|
|
|
TOTAL |
|
403.175 |
470.872 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
124.158 |
141.878 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
0.088 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
7.153 |
6.822 |
|
(e) Other
Non-current assets |
|
0.040 |
0.040 |
|
Total Non-Current
Assets |
|
131.439 |
148.740 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
156.627 |
195.985 |
|
(c) Trade
receivables |
|
77.098 |
97.090 |
|
(d) Cash
and cash equivalents |
|
8.752 |
4.670 |
|
(e)
Short-term loans and advances |
|
17.466 |
24.384 |
|
(f) Other
current assets |
|
11.793 |
0.003 |
|
Total
Current Assets |
|
271.736 |
322.132 |
|
|
|
|
|
|
TOTAL |
|
403.175 |
470.872 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
85.422 |
|
|
2] Share Application Money |
|
|
21.505 |
|
|
3] Reserves & Surplus |
|
|
7.929 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
114.856 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
103.567 |
|
|
2] Unsecured Loans |
|
|
33.171 |
|
|
TOTAL BORROWING |
|
|
136.738 |
|
|
DEFERRED TAX LIABILITIES |
|
|
7.010 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
258.604 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
138.764 |
|
|
Capital work-in-progress |
|
|
1.557 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
149.724
|
|
|
Sundry Debtors |
|
|
121.785
|
|
|
Cash & Bank Balances |
|
|
3.047
|
|
|
Other Current Assets |
|
|
0.044
|
|
|
Loans & Advances |
|
|
23.403
|
|
Total
Current Assets |
|
|
298.003
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
0.000
|
|
|
Other Current Liabilities |
|
|
172.804
|
|
|
Provisions |
|
|
6.916
|
|
Total
Current Liabilities |
|
|
179.720
|
|
|
Net Current Assets |
|
|
118.283
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
258.604 |
|
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
722.288 |
936.177 |
797.715 |
|
|
|
Other Income |
1.192 |
1.178 |
7.114 |
|
|
|
TOTAL (A) |
723.480 |
937.355 |
804.829 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
466.091 |
596.883 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(7.665) |
(35.737) |
|
|
|
|
Employees benefits expense |
57.656 |
59.881 |
|
|
|
|
Other expenses |
195.389 |
265.722 |
|
|
|
|
Expenditure on production, transportation and other expenditure pertaining to E&P activities |
1.063 |
0.853 |
|
|
|
|
TOTAL (B) |
712.534 |
887.602 |
757.214 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
10.946 |
49.753 |
47.615 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
25.665 |
24.307 |
21.627 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(14.719) |
25.446 |
25.988 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
16.985 |
17.480 |
16.538 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX
(E-F) (G) |
(31.704) |
7.966 |
9.450 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(4.167) |
3.771 |
3.077 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX
(G-H) (I) |
(27.537) |
4.195 |
6.373 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(2.55) |
0.49 |
0.80 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(3.81) |
0.45 |
0.80 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
1.52 |
5.31 |
5.97 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(7.87) |
1.69 |
2.16 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.27) |
0.07 |
0.08 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.30 |
1.34 |
1.19 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.12 |
1.07 |
1.40 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
85.422 |
85.422 |
132.990 |
|
Reserves & Surplus |
7.929 |
12.123 |
(15.415) |
|
Share Application money pending allotment |
21.505 |
23.305 |
0.000 |
|
Net
worth |
114.856 |
120.850 |
117.575 |
|
|
|
|
|
|
long-term borrowings |
103.567 |
32.387 |
28.727 |
|
Short term borrowings |
33.171 |
129.382 |
123.988 |
|
Total
borrowings |
136.738 |
161.769 |
152.715 |
|
Debt/Equity
ratio |
1.191 |
1.339 |
1.299 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
797.715 |
936.177 |
722.288 |
|
|
|
17.357 |
(22.847) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
797.715 |
936.177 |
722.288 |
|
Profit |
6.373 |
4.195 |
(27.537) |
|
|
0.80% |
0.45% |
(3.81%) |
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 |
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 |
Yes |
|
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 |
NOTE: Registered office of the company has been shifted from Ramsaras Wati Houseansari Road, Darya Ganj, New Delhi-110002, Delhi, India to the present address w.e.f. 01.11.2008
UNSECURED LOAN
|
PARTICULARS |
31.03.2012 (Rs.
in Million) |
31.03.2011 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Deferred payment liabilities |
27.712 |
27.712 |
|
|
|
|
|
Total |
27.712 |
27.712 |
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10105397 |
07/03/2009 * |
7,000,000.00 |
Canara Bank |
8A, Nehru Ground, NIT, Faridabad, Haryana - 121001, INDIA |
A59016345 |
|
2 |
10070023 |
18/09/2007 |
16,900,000.00 |
CANARA BANK |
8A NEHRU GROUND, NIT, FARIDABAD, Haryana - 121001 , INDIA |
A24502924 |
|
3 |
90038390 |
09/07/2011 * |
110,000,000.00 |
Canara Bank |
8A, Nehru Ground, NIT, Faridabad, Haryana - 121001, INDIA |
B16727885 |
|
4 |
90036857 |
02/11/2001 |
40,000,000.00 |
B.N.P. |
PARIBAS, 15; BARAKHAMBA ROAD, NEW DELHI, Delhi, INDIA |
- |
|
5 |
80034210 |
11/12/2002 * |
18,660,000.00 |
CANARA BANK |
8A, NIT , NEHRU GROUND,, FARIDABAD, Haryana - 122001, INDIA |
- |
|
6 |
80033999 |
29/01/2001 |
15,000,000.00 |
CANARA BANK |
8-A NEHRU GROUND,, FARIDABAD, Haryana - 122001, INDIA |
- |
|
7 |
90036351 |
29/01/2001 * |
51,500,000.00 |
CANARA BANK |
8 - A, NEHRU GROUND, FARIDABAD, Haryana, INDIA |
- |
FIXED ASSETS
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer
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.64.03 |
|
|
1 |
Rs.99.27 |
|
Euro |
1 |
Rs.71.90 |
INFORMATION DETAILS
|
Information Gathered
by : |
MNJ |
|
|
|
|
Analysis Done by
: |
SAN |
|
|
|
|
Report Prepared
by : |
ART/JYTK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
1 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
1 |
|
--PROFITABILITY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
1 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
11 |
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.