MIRA INFORM REPORT
|
Report No. : |
310085 |
|
Report Date : |
02.03.2015 |
IDENTIFICATION DETAILS
|
Name : |
GOPANI IRON AND POWER (INDIA) PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
A-22, MIDC, Growth Center, Post Tadali, District Chanderpur – 442406,
Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
08.04.1988 |
|
|
|
|
Com. Reg. No.: |
11-046932 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 243.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74300MH1988PTC046932 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
NGPG01095D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCG0988N |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
|
|
|
|
Line of Business
: |
Manufacturer of Sponge Iron, Power and Billet. |
|
|
|
|
No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but Correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having moderate track record. Management has reported consecutive losses from its operations. However, trade relations are seems to be fair. Business is active.
Payment terms are reported as slow but correct. In view of the extensive experience of the promoters, 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 |
CRISIL |
|
Rating |
Long term rating = “BB+” |
|
Rating Explanation |
Inadequate credit quality and high credit
risk. |
|
Date |
November 24, 2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating = “A4+” |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
November 24, 2014. |
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
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Hitesh Parmar |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-22-23436949 |
|
Date : |
26.02.2015 |
LOCATIONS
|
Registered Office/ Factory : |
A-22, MIDC, Growth Center, Post Tadali, District Chanderpur – 442406, Maharashtra,
India |
|
Tel. No.: |
91-7172-237706/ 8/ 9 |
|
Fax No.: |
91-7172-237707 |
|
E-Mail : |
|
|
Website : |
|
|
Location |
Owned |
|
Locality : |
Industrial |
|
|
|
|
Head Office : |
Uttam House, Office No.2, Ground Floor, P. D’Mello Road, Carnac
Bunder, Mumbai – 400009, Maharashtra, India |
|
Tel. No.: |
91-22-23480949 |
|
Fax No.: |
91-22-23481361 |
DIRECTORS
AS ON 11.07.2014
|
Name : |
Mr. Jignesh Gunvant Gopani |
|
Designation : |
Director |
|
Address : |
604 – C Laxmi Apartments, Block No. 1, Lady Jahangir Road, Mumbai –
400014, Maharashtra, India |
|
Date of Appointment : |
10.09.2000 |
|
PAN No.: |
AAAPG8763C |
|
DIN No.: |
00091073 |
|
|
|
|
Name : |
Mr. Vinod Kumar Subhkaran Jatia |
|
Designation : |
Director |
|
Address : |
Damodar Bhawan, 3rd Floor, Bhulabhai Desai Marg, Mumbai –
400026, Maharashtra, India |
|
Date of Appointment : |
10.10.2005 |
|
DIN No.: |
00091115 |
|
|
|
|
Name : |
Mr. Jayant Hiralal Shah |
|
Designation : |
Director |
|
Address : |
Plot No.9-11, Sujay Garden, 12, Mukund Nagar, Gultekdi, Pune – 411037,
Maharashtra, India |
|
Date of Appointment : |
27.06.2006 |
|
PAN No.: |
AEGPS3036L |
|
DIN No.: |
00185389 |
KEY EXECUTIVES
|
Name : |
Mr. Hanuman Prasad Vyas |
|
Designation : |
Secretary |
|
Date of Appointment : |
01.09.2012 |
|
PAN No.: |
AABPV8267D |
|
|
|
|
Name : |
Mr. Hitesh Parmar |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS
AS ON 11.07.2014
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Gopani International Private Limited |
16393320 |
67.46 |
|
Shree Golbal Tradefin Limited |
6075000 |
25.00 |
|
Bharti Gopani |
2100 |
0.01 |
|
Jignesh Gopani |
6000 |
0.02 |
|
Anjali Gopani |
2100 |
0.01 |
|
Jayant Shah |
910740 |
3.75 |
|
Malav J. Shah |
910740 |
3.75 |
|
|
|
|
|
Total |
24300000 |
100.00 |
AS ON 11.07.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
92.46 |
|
Directors or relatives of Directors |
7.54 |
|
|
|
|
Total |
100.00 |
%20PRIVATE%20LIMITED%20-%20310085_MIRA%2002-Mar-2015_files/image014.gif)
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Sponge Iron, Power and Billet. |
|
|
|
|
Brand Names : |
-- |
|
|
|
|
Agencies Held : |
-- |
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|
Exports : |
|
|
Products : |
-- |
|
Countries : |
-- |
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|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
· South Africa · China · Singapore · Dubai |
|
|
|
|
Terms : |
|
|
Selling : |
Cash, L/C, Cheque and Credit [30 Days and 60 Days] |
|
|
|
|
Purchasing : |
Cash, L/C, Cheque and Credit [30 Days and 60 Days] |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
150 (Approximately) |
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Bankers : |
· Punjab National Bank Brady House, Veer Nariman Road, Fort, Mumbai - 400023, Maharashtra, India · Kotak Mahindra Prime Limited 36-38A Nariman Bhavan, 227, Nariman Point, Mumbai -
400021, Maharashtra, India |
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|||||||||||||||||||||||||||
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Facilities : |
CC / TL = Rs. 265.600 Millions [From Punjab National Bank]
|
|
|
|
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Auditors : |
|
|
Name : |
Vinod S. Mehta and Company Chartered Accountant |
|
Address : |
114, Jolly Bhavan, 10, New Marine Lines, Mumbai, Maharashtra, India |
|
PAN No.: |
AADFV0519Q |
|
|
|
|
Holding Company : |
Gopani International Private Limited [U51900MH1994PTC080487] |
|
|
|
|
Subsidiary Company
: |
Gopani Offshore Mining Private Limited |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives : |
·
Makalu Trading Limited [U51900MH1981PLC024687] ·
Superways Enterprises Private Limited
[U51909MH1989PTC050675] ·
Subhakaram and Sons ·
Akruti Jay Developers ·
Dilshad Trading Company Private Limited
[U51900MH1982PTC027434] ·
Y and M Minerals (India) Private Limited
[U26999MH2006PTC161368] ·
Orchid Associates ·
Y and M Cement (India) Private Limited
[U26940MH2006PTC161339] · Jairaj Developers (Unit-5) |
CAPITAL STRUCTURE
AS ON 11.07.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
24,500,000 |
Equity Shares |
Rs. 10/- each |
Rs. 245.000 Millions |
|
50,000 |
Preference Shares |
Rs. 100/- each |
Rs. 5.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 250.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
24,300,000 |
Equity Shares |
Rs. 10/-
each |
Rs. 243.000
Millions |
|
|
|
|
|
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 |
243.000 |
243.000 |
243.000 |
|
(b) Reserves & Surplus |
516.324 |
542.331 |
662.204 |
|
(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) |
759.324 |
785.331 |
905.204 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
974.648 |
989.728 |
929.587 |
|
(b) Deferred tax liabilities (Net) |
107.090 |
119.782 |
176.701 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
8.621 |
8.728 |
5.532 |
|
Total Non-current
Liabilities (3) |
1090.359 |
1118.238 |
1111.820 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
60.613 |
0.609 |
21.221 |
|
(b) Trade
payables |
767.318 |
518.467 |
600.773 |
|
(c) Other
current liabilities |
324.500 |
302.824 |
134.568 |
|
(d) Short-term
provisions |
0.320 |
0.311 |
0.222 |
|
Total Current
Liabilities (4) |
1152.751 |
822.211 |
756.784 |
|
|
|
|
|
|
TOTAL |
3002.434 |
2725.780 |
2773.808 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
908.909 |
1022.788 |
1036.760 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
1.300 |
1.944 |
13.090 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
7.362 |
7.362 |
7.312 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
86.587 |
79.698 |
89.518 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
1004.158 |
1111.792 |
1146.680 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
575.833 |
467.705 |
272.929 |
|
(c) Trade
receivables |
976.798 |
790.683 |
994.660 |
|
(d) Cash
and cash equivalents |
98.411 |
95.002 |
94.147 |
|
(e)
Short-term loans and advances |
184.234 |
87.547 |
194.310 |
|
(f) Other current
assets |
163.000 |
173.051 |
71.082 |
|
Total
Current Assets |
1998.276 |
1613.988 |
1627.128 |
|
|
|
|
|
|
TOTAL |
3002.434 |
2725.780 |
2773.808 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
4655.600 |
2424.500 |
2541.449 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
4694.300 |
2601.300 |
2398.863 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
(38.700) |
(176.800) |
142.586 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(12.700) |
(56.900) |
8.927 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
(26.000) |
(119.900) |
133.659 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Trading Goods |
374.493 |
61.023 |
|
|
|
|
Raw Materials |
260.595 |
313.506 |
|
|
|
|
Stores & Consumables |
1.453 |
0.381 |
|
|
|
|
Fixed Assets |
1.375 |
0.000 |
|
|
|
TOTAL IMPORTS |
637.916 |
374.910 |
691.504 |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss)
Per Share (Rs.) |
(1.07) |
(4.93) |
5.50 |
|
%20PRIVATE%20LIMITED%20-%20310085_MIRA%2002-Mar-2015_files/image003.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(1.29) |
(6.51) |
5.18 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.05) |
(0.23) |
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.36 |
1.26 |
1.05 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.73 |
1.96 |
2.15 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particulars |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
243.000 |
243.000 |
243.000 |
|
Reserves & Surplus |
662.204 |
542.331 |
516.324 |
|
Net
worth |
905.204 |
785.331 |
759.324 |
|
|
|
|
|
|
Long-term borrowings |
929.587 |
989.728 |
974.648 |
|
Short term borrowings |
21.221 |
0.609 |
60.613 |
|
Total
borrowings |
950.808 |
990.337 |
1035.261 |
|
Debt/Equity ratio |
1.050 |
1.261 |
1.363 |
%20PRIVATE%20LIMITED%20-%20310085_MIRA%2002-Mar-2015_files/image016.gif)
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
2541.449 |
2424.500 |
4655.600 |
|
|
|
(4.602) |
92.023 |
%20PRIVATE%20LIMITED%20-%20310085_MIRA%2002-Mar-2015_files/image018.gif)
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
2541.449 |
2424.500 |
4655.600 |
|
Profit/ (Loss) |
133.659 |
(119.900) |
(26.000) |
|
|
5.26% |
(4.95%) |
(0.56%) |
%20PRIVATE%20LIMITED%20-%20310085_MIRA%2002-Mar-2015_files/image020.gif)
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT
|
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 |
82.433 |
81.250 |
85.407 |
|
|
|
|
|
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
No |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10221860 |
27/04/2010 |
6,450,000.00 |
PUNJAB NATIONAL BANK |
MID CORPORATE
BRANCH, BRADY HOUSE, V. N. ROAD, |
A85936482 |
|
2 |
10174350 |
21/07/2009 |
6,800,000.00 |
PUNJAB NATIONAL BANK |
BRADY HOUSE,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
A68693092 |
|
3 |
10008980 |
14/10/2008 * |
170,000,000.00 |
PUNJAB NATIONAL BANK |
BRADY HOUSE, FORT,, MUMBAI, MAHARASHTRA - 400001, INDIA |
A52814431 |
|
4 |
10008972 |
21/02/2011 * |
1,570,000,000.00 |
PUNJAB NATIONAL BANK AND UNION BANK OF INDIA |
BRADY HOUSE, VEER NARIMAN ROAD, FORT, MUMBAI, MAHARASHTRA - 400023, INDIA |
B07764418 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Loans and advances from directors |
0.163 |
3.804 |
|
Loans and advances from others |
769.418 |
702.223 |
|
|
|
|
|
Total |
769.581 |
706.027 |
CORPORATE PROFILE
Subject started its business activities in 2004 by setting up of Sponge Iron Plant at A-22, M.I.D.C., Growth Centre, Post Tadali - 442406, District Chandrapur (Maharashtra) which at present has the annual production capacity of 1.2Lacs MT. In financial year 2009-10, company also started operations from its Captive Power Plant having capacity of 15MW per Hour and Steel Melting Plant having annual Capacity of 75000 MT. With the captive Power Plant, the company is using the power generated in operating Sponge Iron Plant and Steel Melting Plant. Also at the same time Finished Goods from Sponge iron Plant which is Sponge Iron is used in Steel Melting Plant as one of the raw Material. Also with the help of vast experience of promoters in the field of Steel Industry, the company is also involved in the business of trading of Steel where company imports or locally procures steel products like HR Coils, CR Coils, Scrap and supplies to the local parties. In the year 2013-14, the company was involved in production activities from all three plants apart from trading activities.
OPERATIONS
During the year, the Company has achieved a total income of Rs. 4655.600 Millions as against Rs. 2424.500 Millions in the previous year. The Company has performed well in comparison to the previous year due to which the losses incurred have reduced drastically from Rs.119.900 Millions in the previous year to Rs.26.000 Millions in the current year. The Board is hopeful of achieving better results in the year ahead.
CONTINGENT
LIABILITIES
|
Particulars |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
|
|
|
|
|
Bank Guarantees |
23.935 |
20.258 |
|
Disputed amount in respect of Excise Duty and Service Tax |
0.796 |
0.796 |
|
|
|
|
|
Total |
24.731 |
21.054 |
FIXED ASSETS
·
Land
·
Buildings
·
Factory Building
·
Plant and Equipment
·
Furniture and Fixture
·
Vehicles
·
Office Equipment
·
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. 61.79 |
|
|
1 |
Rs. 95.42 |
|
Euro |
1 |
Rs. 69.29 |
INFORMATION DETAILS
|
Information Gathered
by : |
SUB |
|
|
|
|
Analysis Done by
: |
SVA |
|
|
|
|
Report Prepared
by : |
BVA |
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 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
|
32 |
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.