MIRA INFORM REPORT
|
Report No. : |
327445 |
|
Report Date : |
15.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
KHOSLA ENGINEERING PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No.2-B, D-1 Block, Chinchwad (East), Pune – 411019, Maharashtra |
|
Tel No.: |
91-21-35678406 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
06.06.1962 |
|
|
|
|
Com. Reg. No.: |
25-012372 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.15.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27104PN1962PTC012372 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEK00195G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACK6779P |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Solder Wire and Stick, Soldering Flux,
Zinc Wire, Aluminum Wire, Zinc Aluminum Spray Wire etc. |
|
|
|
|
No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 54800 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having moderate track record. It was incorporated in 1962. It is engaged in the manufacturer of
solder wires, zinc wires and aluminum wires. Rating takes into consideration subjects moderate risk profile marked
by low profit margin relatively low reserves and capital intensive nature of
business. Borrowing of the company seems to be huge and increasing which act as
threat to the liquidity position of the company. Trade relations are fair. Business is active. Payment terms are
reported to be slow but correct. In the view of extensive experience of promoters and established
relationship with the customers, the subject can be considered for business
dealings with some caution. |
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 |
ICRA |
|
Rating |
Long term rating B+ |
|
Rating Explanation |
Risk prone credit quality and carries very high credit risk. |
|
Date |
March 2015 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short term rating A4 |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
March 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 PARTED BY
|
Name : |
Mr. Dilip Darvatkar |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-21-35678406 |
|
Date : |
15.06.2015 |
LOCATIONS
|
Registered Office : |
Plot No.2-B, D-1 Block, Chinchwad (East), Pune – 411019, Maharashtra,
India |
|
Tel. No.: |
91-20-66352600 to 66352620 (20
lines) / 27472573 |
|
Mobile No.: |
91-9823322268 (Mr. Nilesh Patil) |
|
Fax No.: |
91-20-27476979 / 66352612 |
|
E-Mail : |
|
|
Website : |
|
|
Location: |
Owned |
|
|
|
|
Factory : |
Gat No.130,
Village Dhanore, Off Alandi Market Road, Taluka: Khed, Pune - 412105,
Maharashtra, India |
|
Tel No.: |
91-2135-678412 / 678405
- 430 |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Vishal Vijaykant Kothari |
|
Designation : |
Managing Director |
|
Address : |
S. No. 692/A/A
Plot No.7, Motibagh, Pune Satara Road, Bibwewadi, Pune – 411037, Maharashtra,
India |
|
Date of Birth/Age : |
19.11.1971 |
|
Date of Appointment : |
02.03.1996 |
|
PAN No.: |
AFZPK0422Q |
|
DIN No.: |
00856663 |
|
|
|
|
Name : |
Mr. Vijaykant Motilal Kothari |
|
Designation : |
Whole-Time Director |
|
Address : |
6 C, Motibag,
Pune Satara Road, Market Yard, Pune – 411037, Maharashtra, India |
|
Date of Birth/Age : |
26.10.1944 |
|
Date of Appointment : |
02.03.1996 |
|
PAN No.: |
ABGPK2000F |
|
DIN No.: |
00856773 |
|
|
|
|
Name : |
Mr. Rupesh Vijaykant Kothari |
|
Designation : |
Whole-Time Director |
|
Address : |
6 C, Motibaug,
Pune Satara Road, Pune – 411037, Maharashtra, India |
|
Date of Birth/Age : |
02.11.1973 |
|
Date of Appointment : |
02.03.1996 |
|
PAN No.: |
ABIPK5390E |
|
DIN No.: |
00856797 |
KEY EXECUTIVES
|
Name : |
Mr. Dilip Darvatkar |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
%age |
|
Kothari Motilal Vijaykant Jointly with Kothari
Vijaykant Padma |
59250 |
39.50 |
|
Kothari Vijaykant Padma Jointly with Kothari
Motiala Vijaykant |
37927 |
25.28 |
|
Kothari Vijaykant Vishal Jointly with. Kothari
Motialal Vijaykant |
750 |
0.50 |
|
Kothari Vijaykant Rupesh Jointly with. Kothari
Motialal Vijaykant |
30000 |
20.00 |
|
Kothari Vijaykant Rupesh |
22073 |
14.72 |
|
|
|
|
|
Total |
150000 |
100.00 |
As on 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Solder Wire and Stick, Soldering Flux,
Zinc Wire, Aluminum Wire, Zinc Aluminum Spray Wire etc. |
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|
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|
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|
Products : |
v Solder Wire and
Stick v Soldering Flux v Zinc Wire v Aluminum Wire v Zinc Aluminum
Spray Wire |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
v Singapore v Thailand v Malaysia v Iran |
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Imports : |
|
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Products : |
Raw Material |
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Countries : |
Italy |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS –
NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Retailers, Manufacturer and Wholesalers
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No. of Employees : |
100 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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|
Name : |
Pravin B. Bhandari and Company Chartered Accountants |
|
Address : |
243, |
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Tel. No. : |
91-20-24450161 |
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E-Mail : |
|
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PAN
No. : |
ABGPB3669R |
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|
|
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Memberships : |
-- |
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|
|
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Collaborators : |
-- |
|
|
|
|
Enterprises which are owned, or have
significant influence of or are partners with Key management personnel and
their relatives : |
v Kothari Metals v Kothari Wheels v The Kothari
Wheels |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150000 |
Equity Shares |
Rs.100/- each |
Rs.15.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150000 |
Equity Shares |
Rs.100/- each |
Rs.15.000 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
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 |
15.000 |
2.000 |
2.000 |
|
(b) Reserves & Surplus |
4.188 |
13.790 |
47.227 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
19.188 |
15.790 |
49.227 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
401.154 |
348.923 |
206.784 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.154 |
0.154 |
0.154 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
401.308 |
349.077 |
206.938 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
22.864 |
29.870 |
21.920 |
|
(c) Other current
liabilities |
9.565 |
3.931 |
19.126 |
|
(d) Short-term
provisions |
0.000 |
0.000 |
1.663 |
|
Total Current
Liabilities (4) |
32.429 |
33.801 |
42.709 |
|
|
|
|
|
|
TOTAL |
452.925 |
398.668 |
298.874 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
160.241 |
182.367 |
41.410 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.346 |
0.287 |
0.175 |
|
(d) Long-term Loan and Advances |
9.912 |
9.966 |
57.039 |
|
(e) Other Non-current
assets |
2.528 |
1.159 |
1.115 |
|
Total Non-Current
Assets |
173.027 |
193.779 |
99.739 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.123 |
0.123 |
0.123 |
|
(b)
Inventories |
43.094 |
29.786 |
43.666 |
|
(c) Trade
receivables |
194.508 |
132.207 |
135.711 |
|
(d) Cash
and cash equivalents |
7.133 |
21.037 |
6.992 |
|
(e)
Short-term loans and advances |
34.931 |
21.639 |
12.556 |
|
(f) Other
current assets |
0.109 |
0.097 |
0.087 |
|
Total
Current Assets |
279.898 |
204.889 |
199.135 |
|
|
|
|
|
|
TOTAL |
452.925 |
398.668 |
298.874 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
1063.850 |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
1001.332 |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
62.518 |
|
|
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
35.802 |
|
|
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
26.716 |
|
|
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
23.260 |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
3.456 |
|
|
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.058 |
|
|
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
3.398 |
NA |
NA |
|
|
|
|
|
|
||
|
|
Earnings /
(Loss) Per Share (Rs.) |
22.65 |
-- |
-- |
|
|
Particulars |
|
|
31.03.2015 |
|
|
|
|
|
|
Sales Turnover (Approximately) |
|
|
1272.800 |
|
|
|
|
|
Expected Sales (2015-2016): Rs.1322.500 Million
The above information has been parted by Mr. Dilip Darvatkar
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
|
|
|
|
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.76 |
NA |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18 |
NA |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability /Networth) |
|
20.91 |
22.10 |
4.20 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
8.63 |
6.06 |
4.66 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
0.000 |
2.000 |
15.000 |
|
Reserves & Surplus |
47.227 |
13.790 |
4.188 |
|
Net worth |
47.227 |
15.790 |
19.188 |
|
|
|
|
|
|
long-term borrowings |
206.784 |
348.923 |
401.154 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
206.784 |
348.923 |
401.154 |
|
Debt/Equity ratio |
4.379 |
22.098 |
20.907 |
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 |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
Yes |
|
19 |
Major customers |
Yes |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
No |
|
22 |
Conduct of the banking account |
No |
|
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 two year |
Yes |
|
27 |
Reasons for variation <> 20% |
------------------- |
|
28 |
Estimation for coming financial year |
Yes |
|
29 |
Profitability for last one year |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
No |
|
33 |
Market information |
No |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOAN
|
PARTICULAR |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Fully convertible debentures banks |
25.000 |
0.000 |
|
Loans and advances from related parties |
51.052 |
55.857 |
|
|
|
|
|
Total |
76.052 |
55.857 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10482736 |
27/09/2012 |
20,000,000.00 |
BANK OF MAHARASHTRA |
KHADKI BRANCH, PUNE, Maharashtra - 411003,
INDIA |
B70978564 |
|
2 |
10279822 |
28/09/2011 * |
31,875,000.00 |
BANK OF MAHARASHTRA |
KHADKI BRANCH, PUNE, Maharashtra - 411033,
INDIA |
B23497084 |
|
3 |
90091976 |
30/10/2002 |
950,000.00 |
BANK OF MAHARASHTRA |
KHADKI BRANCH, PUNE, Maharashtra - 411003,
INDIA |
- |
|
4 |
90090979 |
13/07/1999 |
234,000.00 |
BANK OF MAHARASHTRA |
KHADKI BRANCH, PUNE, Maharashtra - 411003,
INDIA |
- |
|
5 |
90090728 |
26/09/2012 * |
266,250,000.00 |
BANK OF MAHARASHTRA |
KHADKI BRANCH, PUNE, Maharashtra - 411003,
INDIA |
B70194337 |
|
6 |
90090623 |
23/01/1998 |
1,200,000.00 |
BANK OF MAHARASHTRA |
KHADKI BRANCH, PUNE, Maharashtra - 411003,
INDIA |
- |
FIXED ASSETS
v Land
v Buildings
v Plant and equipment
v Furniture and fixtures
v Vehicles
v Office equipment
v Computer equipments
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 : |
DIP |
|
|
|
|
Analysis Done by
: |
SAN |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
-- PROFITABILITY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
27 |
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.