MIRA INFORM REPORT
|
Report No. : |
327933 |
|
Report Date : |
17.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
SHIRPUR
POWER PRIVATE LIMITED (w.e.f. 26.04.2007) |
|
|
|
|
Formerly Known
As : |
DODSON
LINDBLOM HYDRO POWER BHANDARDARA II PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
417-419, Midas, 4th Floor, Sahar Plaza Complex, CTS
No.243A, Opposite JB Nagar, MV Road, Andheri (East), Mumbai – 400 059,
Maharashtra |
|
Tel. No.: |
91-79-26420683 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
22.08.2005 |
|
|
|
|
Com. Reg. No.: |
11-155522 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.160.650
million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U40100MH2005PTC155522 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAKCS9158A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Providing consulting engineering
services. |
|
|
|
|
No. of Employees
: |
Information declined by the Management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Under Implementation |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a wholly owned subsidiary of Sintex Power Limited, a part of the Sintex promoter group. It is a private limited company incorporated in the year 2005. As per directors report the company is implementing 300MW (2 X 150MW) sub-critical thermal power plant near Dhule, Maharashtra. The project work is under implementation. As per directors report the company has started supply, service erection, commissioning and civil works contract for commissioning of the above said project. As project is under Implementation Company has incurred some pre-operating expenses. However, trade relations are fair. Business is active. Payment terms are slow. The company 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
FITCH |
|
Rating |
Long Term: IND BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
20.01.2015 |
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 DECLINED
Management non-cooperative
(Tel. No.: 91-2764-253000)
LOCATIONS
|
Registered Office : |
417-419, Midas, 4th Floor, Sahar Plaza Complex, CTS
No.243A, Opposite JB Nagar, MV Road, Andheri (East), Mumbai – 400 059,
Maharashtra |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
7th Floor, Abhijeet-I,
Mithakhali Six Roads, Ellis Bridge, Ahmedabad – 380 006, Gujarat, India |
|
Tel. No.: |
91-79-26420683/ 26407110 |
|
Fax No.: |
91-79-26403446/ 26420045 |
|
|
|
|
Site Address : |
Nardana MIDC, Village: Waghode, Taluka:
Shinkheda, District: Dhule, Maharashtra, India |
|
Tel. No.: |
91-2562-220103 |
|
|
|
|
Correspondence Address : |
BVM, Near Seven Garnala, Kalol – 382 721, Gujarat, India |
|
Tel. No.: |
91-2764-253000 |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr.
Prem Somaji Paunikar |
|
Designation : |
Managing
Director |
|
Address : |
604,
6th Floor, Simran, Off Tejpal Scheme, Road No.5 , VBP Deshpande
Road, Vile Parle (East), Mumbai – 400 057, Maharashtra, India |
|
Date of Birth/Age : |
27.04.1945 |
|
Date of Appointment : |
31.08.2006 |
|
DIN No.: |
01683248 |
|
|
|
|
Name : |
Mr.
Vikram Vithal Rajadhyaksha |
|
Designation : |
Director |
|
Address : |
270,
Valley Run Place Powell, Ohio, 43065, United States of America |
|
Date of Birth/Age : |
04.05.1946 |
|
Date of Appointment : |
22.08.2005 |
|
DIN No.: |
01426050 |
|
|
|
|
Name : |
Mr.
Uday Anand Samant |
|
Designation : |
Director |
|
Address : |
6, Shiv Vastu, Tejpal Scheme Road No.5,
Vile Parle (East), Mumbai – 400 057, Maharashtra, India |
|
Date of Birth/Age : |
25.02.1950 |
|
Date of Appointment : |
22.08.2005 |
|
DIN No.: |
01604890 |
|
|
|
|
Name : |
Mr.
Dhiren Bharat Parikh |
|
Designation : |
Director |
|
Address : |
B-4,
Shaival Soham Park, Opposite Vastrapur Lake, Nehrupark, Vastrapur, Ahmedabad
– 380 054, Gujarat, India |
|
Date of Appointment : |
25.12.2014 |
|
DIN No.: |
00744052 |
|
|
|
|
Name : |
Mr.
Sunil Kumar Kanojia |
|
Designation : |
Additional
Director |
|
Address : |
B-8,
Royal Enclave, Thaljet, Ahmedabad – 380 059, Gujarat, India |
|
Date of Birth/Age : |
02.07.1959 |
|
Date of Appointment : |
24.05.2011 |
|
DIN No.: |
00490259 |
|
|
|
|
Name : |
Mr.
Vidyut Anubhai Sheth |
|
Designation : |
Additional
Director |
|
Address : |
103,
Shraddha Flat, Parijat Society, Fatehpura, Paldi, Ahmedabad – 380 007,
Gujarat, India |
|
Date of Birth/Age : |
10.11.1957 |
|
Date of Appointment : |
02.12.2011 |
|
DIN No.: |
00239371 |
KEY EXECUTIVES
|
Name : |
Mr.
Nilay Pravinchandra Modi |
|
Designation : |
Secretary |
|
Address : |
536,
Parabdi Ni Pole, Navowas, Opposite Ahmedabad Municipal Corporation, Danapith,
Ahmedabad – 380 001, Gujarat, India |
|
Date of Appointment : |
10.12.2014 |
|
PAN No.: |
AZVPM0694A |
|
|
|
|
Name : |
Mr.
Nikunj Chhotalal Shah |
|
Designation : |
Chief
Financial Officer |
|
Address : |
4,
Bal Gayatri Society, Ambawadi, Ahmedabad – 380 015, Gujarat, India |
|
Date of Appointment : |
10.12.2014 |
|
PAN No.: |
AHEPS2464D |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Sintex Power Limited, India |
|
16064900 |
|
Sunil
Kumar Kanojia |
|
100 |
|
Total |
|
16065000 |
AS ON 11.02.2015
|
Names of Allottee |
|
No. of Shares |
|
Sintex Power Limited, India |
|
2142000 |
|
Total |
|
2142000 |
AS ON 30.09.2014
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
99.99 |
|
Directors
or relatives of directors |
|
0.01 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing consulting engineering
services. |
|
|
|
|
Products/ Services : |
Consulting Engineers Services |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
|
|
Selling : |
Not Divulged |
|
|
|
|
Purchasing : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the Management. |
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Bankers : |
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||||||||||||||||||||||
|
Facilities : |
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|
Banking
Relations : |
-- |
|
|
|
|
Financial Institution : |
SBICAP
Trustee Company Limited, 202, Maker Tower "E", Cuffe Parade, Mumbai
– 400 005, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
Shah and Shah Associates Chartered Accountants |
|
Address : |
702, Aniket, Near Municiple Market, C G Road,
Navrangpura, Ahmedabad – 380 009, Gujarat, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAHFS7036F |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Ultimate Holding Company: |
Sintex Power Limited,
India (CIN No.: U17115GJ2001PLC039370) |
CAPITAL STRUCTURE
AFTER 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000000 |
Equity Shares |
Rs.10/- each |
Rs.500.000 million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital : Rs.278.460
million
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000000 |
Equity Shares |
Rs.10/- each |
Rs.500.000 million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
16065000 |
Equity Shares |
Rs.10/- each |
Rs.160.650
million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1) Shareholders' Funds |
|
|
|
|
(a) Share Capital |
160.650 |
113.400 |
2.700 |
|
(b) Reserves & Surplus |
1420.500 |
995.599 |
(0.098) |
|
(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) |
1581.150 |
1108.999 |
2.602 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
4642.283 |
1773.143 |
1043.237 |
|
(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 |
3.066 |
1.571 |
0.090 |
|
Total Non-current Liabilities (3) |
4645.349 |
1774.714 |
1043.327 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
0.000 |
0.000 |
0.000 |
|
(c) Other current liabilities |
3921.520 |
309.924 |
8.435 |
|
(d) Short-term provisions |
0.476 |
0.134 |
0.002 |
|
Total Current Liabilities (4) |
3921.996 |
310.058 |
8.437 |
|
|
|
|
|
|
TOTAL |
10148.495 |
3193.771 |
1054.366 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
201.554 |
135.287 |
64.085 |
|
(ii) Intangible Assets |
1.610 |
0.409 |
0.045 |
|
(iii) Capital work-in-progress |
9179.864 |
1786.319 |
275.865 |
|
(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) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term
Loan and Advances |
743.963 |
1249.948 |
702.650 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
10126.991 |
3171.963 |
1042.645 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
0.000 |
0.000 |
0.000 |
|
(d) Cash and cash equivalents |
20.849 |
20.286 |
11.624 |
|
(e) Short-term loans and advances |
0.271 |
1.021 |
0.043 |
|
(f) Other current assets |
0.384 |
0.501 |
0.054 |
|
Total Current Assets |
21.504 |
21.808 |
11.721 |
|
|
|
|
|
|
TOTAL |
10148.495 |
3193.771 |
1054.366 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
NA |
NA |
0.000 |
|
|
|
Other Income |
NA |
NA |
0.068 |
|
|
|
TOTAL |
NA |
NA |
0.068 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Other Expenses |
NA |
NA |
0.101 |
|
|
|
TOTAL |
NA |
NA |
0.101 |
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
NA |
NA |
(0.033) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
NA |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(0.350) |
(0.602) |
(0.033) |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(0.02) |
(1.25) |
(0.14) |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
0.000 |
0.000 |
NA |
|
Net cash flows from (used in) operations |
3613.950 |
301.074 |
5.415 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
NA
|
NA |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
NA |
0.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
NA |
(0.01) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.94 |
1.60 |
400.94 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.01 |
0.07 |
1.39 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
2.700 |
113.400 |
160.650 |
|
Reserves & Surplus |
(0.098) |
995.599 |
1420.500 |
|
Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
2.602 |
1108.999 |
1581.150 |
|
|
|
|
|
|
Long-term borrowings |
1043.237 |
1773.143 |
4642.283 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
1043.237 |
1773.143 |
4642.283 |
|
Debt/Equity ratio |
400.937 |
1.599 |
2.936 |
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 |
No |
|
9 |
Promoter’s background |
No |
|
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 |
No |
|
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 one year |
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 |
CORPORATE
INFORMATION:
Subject is a private limited company domiciled in India and was
incorporated under the provisions of the Companies Act, 1956. The company is a
wholly owned subsidiary company of Sintex Power Limited. The company is setting
up the 300 MW Capacity Coal Based Thermal Power Project at Nardana MIDC Area,
Plot-I, Village-Vaghode, Ta: Shindkheda, District Dhule, Maharshtra, which is
under implementation.
PERFORMANCE
OVERVIEW:
The company has got all the Environment and other required clearances on
place. The company has also got the possession of 85 Ha Land along with tie up
for the Water Connection with MIDC for Raw Water Intake System. The Company has
started business activity during the previous year for award the Supply,
Service, Erection, Commissioning and Civil works contract for commissioning of
the 300MW coal based Thermal Power Project at Dhule, Maharashtra. The work is
under progress and outside plant activity is completing quickly. The company
has got the supply of BTG items during the year.
The company has paid total advances to the tune of Rs.1249.900 million
as advance to all supplier including EPC Contractor and has also paid Rs.63.000
million towards the land agreement and Rs.170.000 million towards the water
charges. The company has incurred expenses towards the assets under
construction (CWIP) and pre-operative expenses amounting to Rs.9179.900 million
(Rs.1786.300 million) and being treated as capital work in progress till the
commissioning of the plant. The major cost involved is towards the supply and
service of material of BTG item, E-BoP items and M-BoP item of Rs.7896.500
million, Rs.1330.000 million towards the finance cost including of Interest
during construction period and other pre-operative expenditure.
UNSECURED LOAN
|
Particulars |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
LONG TERM BORROWING |
|
|
|
From
Sintex Power Limited, a holding company |
754.704 |
32.091 |
|
Total
|
754.704 |
32.091 |
INDEX
OF CHARGES
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10413774 |
26/03/2013 |
13,220,000,000.00 |
SBICAP TRUSTEE COMPANY
LIMITED |
202, MAKER
TOWER"E", CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
B71439509 |
FIXED ASSETS
Tangible Assets
·
Land
·
Buildings
·
Plant and Equipments
·
Furniture and Fixtures
·
Vehicles
·
Computer Equipments
·
Office Equipments
Intangible
Assets
·
Computer Software
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.64.15 |
|
UK Pound |
1 |
Rs.100.04 |
|
Euro |
1 |
Rs.72.27 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
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 |
|
26 |
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.