MIRA INFORM REPORT
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Report No. : |
313975 |
|
Report Date : |
25.03.2015 |
IDENTIFICATION DETAILS
|
Name : |
MMTC LIMITED |
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Registered
Office : |
Core- 1 Scope Complex 7 Institutional Area, Lodhi Road, New Delhi –
110003, Delhi. |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
26.09.1963 |
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Com. Reg. No.: |
55-004033 |
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Capital
Investment / Paid-up Capital : |
Rs. 1000.000 Million |
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CIN No.: [Company Identification
No.] |
L51909DL1963GOI004033 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELM09574F DELM09969B DELM10208C DELM13098B |
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PAN No.: [Permanent Account No.] |
AAACM1433E |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
The Company are export of
Minerals and import of Precious Metals, Non-ferrous metals, Fertilizers, Agro
Products, coal and hydrocarbon etc. |
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No. of Employees
: |
1530 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (51) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 38000000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a Government of India Company. It is an old and established
company having fine track. The Company has incurred miniscule profits during FY 2014 as against
the loss made from its operation during previous financial year 2013. The rating also takes into consideration MMTC’s position as the
largest international trading house as well as long and established track
record of trading in diverse commodities. Trade relation reported to be fair. Business is active. Payment terms
are reported to be regular and as per commitment. In view of government support, the company can be considered normal
for business dealing at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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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 |
CARE |
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Rating |
Long term bank facilities = A+ |
|
Rating Explanation |
Adequate degree of safety and low credit
risk |
|
Date |
10.01.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities = A1+ |
|
Rating Explanation |
Very strong degree of safety and higher
credit risk |
|
Date |
10.01.2014 |
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
Management non co-operative (011-24362200)
LOCATIONS
|
Registered
Office / Corporate Office : |
Core 1, Scope Complex,
7 Institutional Area, |
|
Tel. No.: |
91-011-24361889 |
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Fax No.: |
91-011-24360724 |
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E-Mail : |
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Website |
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Located at : |
NORTH ZONE
SOUTH ZONE
EAST ZONE
WEST ZONE
FOREIGN OFFICES
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Promoted Project : |
Neelchal Ispat Nigam Limited, 1st floor of Annexe, IPICOL Houses, Janpath Bhubaneswar – 751022, India |
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Tel. No.: |
91-674-2543231 |
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Fax No.: |
91-674-2541763 |
DIRECTORS
As on 18.09.2014
|
Name : |
Mr. D S Dhesi |
|
Designation : |
Chairman cum Managing Director |
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Name : |
Mr. Madhusudan Prasad |
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Designation : |
Government Nominee Director |
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Name : |
Ms. Anita Agnihotri w.e.f.
16.06.2014 |
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Designation : |
Government Nominee Director |
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Name : |
Mr. B. P. Pandey w.e.f.16.06.2014 |
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Designation : |
Government Nominee Director |
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Name : |
Mr. Ved Prakash |
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Designation : |
Director (Marketing) |
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Name : |
Mr. Rajeev Jaideva |
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Designation : |
Director (Personnel) |
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Name : |
Mr. M.G. Gupta |
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Designation : |
Director (Finance) |
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Name : |
Mr. Anand Trivedi w.e.f. 03.07.2012 |
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Designation : |
Director (Marketing) |
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Name : |
Mr. P.K. Jain w.e.f. 15.05.2013 |
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Designation : |
Director (Marketing) |
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Name : |
Mr. Anil Razdan |
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Designation : |
Independent Director |
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Name : |
Mr. G.S. Vedi |
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Designation : |
Independent Director |
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Name : |
Mr. Arun Balakrishnan |
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Designation : |
Independent Director |
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Name : |
Mr. Arvind Kalra w.e.f. 01.04.2013 |
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Designation : |
Independent Director |
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Name : |
Mr. Rana Som w.e.f. 17.04.2013 |
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Designation : |
Independent Director |
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Name : |
Mr. N. Bala Baskar w.e.f. 22.04.2013 |
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Designation : |
Independent Director |
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Name : |
Mr. Subas Pani w.e.f. 07.05.2013 |
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Designation : |
Independent Director |
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Name : |
Mr. S R Tayal w.e.f 09.07.2013 |
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Designation |
Independent Director |
KEY EXECUTIVES
|
Name : |
Mr. A. K. Gupta |
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Designation : |
Senior Executives |
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|
Name : |
Me. Ashish Majumdar |
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Designation : |
Senior Executives |
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Name : |
Ms. Preeti Kaur |
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Designation : |
Senior Executives |
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Name : |
Mr. Vijay Pal |
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Designation : |
Senior Executives |
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|
Name : |
Mr. P. K. Das |
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Designation : |
Senior Executives |
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Name : |
Mr. Ashwani Sondhi |
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Designation : |
Senior Executives |
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Name : |
Mr. J. Kishan |
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Designation : |
Senior Executives |
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Name : |
Mr. Umesh Sharma |
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Designation : |
Senior Executives |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.12.2014
|
Category of Shareholder |
Total No. of Shares |
Total Shareholding as a % of Total No. of Shares |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
(1) Indian |
|
|
|
Central Government
/ State Government(s) |
899268762 |
89.93 |
|
Sub Total |
899268762 |
89.93 |
|
(2) Foreign |
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
899268762 |
89.93 |
|
(B) Public Shareholding |
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|
(1) Institutions |
|
|
|
Mutual Funds /
UTI |
213622 |
0.02 |
|
Financial
Institutions / Banks |
2987368 |
0.30 |
|
Insurance
Companies |
57382994 |
5.74 |
|
Foreign
Institutional Investors |
1497823 |
0.15 |
|
Sub Total |
62081807 |
6.21 |
|
(2) Non-Institutions |
|
|
|
Bodies Corporate |
8822843 |
0.88 |
|
Individuals |
|
|
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Individual
shareholders holding nominal share capital up to Rs 1.000 Million. |
28964644 |
2.90 |
|
Individual
Shareholders holding nominal share capital in excess of Rs. 1.000 Million. |
106000 |
0.01 |
|
Any Others (Specify) |
755944 |
0.08 |
|
Non Resident
Indians |
754044 |
0.08 |
|
Trust &
Foundation |
1900 |
0.00 |
|
Sub Total |
38649431 |
3.86 |
|
Total Public shareholding (B) |
100731238 |
10.07 |
|
Total (A)+(B) |
1000000000 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts
have been issued |
0 |
0.00 |
|
(1) Promoter and Promoter Group |
0 |
0.00 |
|
(2) Public |
0 |
0.00 |
|
Sub Total |
0 |
0.00 |
|
Total (A)+(B)+(C) |
1000000000 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company are export of
Minerals and import of Precious Metals, Non-ferrous metals, Fertilizers, Agro
Products, coal and hydrocarbon etc. |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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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 : |
1530 (Approximately) |
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Bankers : |
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Facilities : |
Note : The loans have been taken
from Banks under Cash Credit/Packing Credit Accounts/Others and are repayable
within one year. The
company has not defaulted in repayment of any loan and interest thereon. |
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Statutory Auditors : |
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|
Name : |
Jain Kapila Associates Chartered Accountants |
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Address : |
New Delhi |
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Branch Auditors: |
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|
Name : |
D V Sarover and Company |
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Address: |
Bellary |
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Name: |
Rajesh K Jhunjhunwala and Company |
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Address: |
Cuttack |
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|
Name : |
Shah and Shah Associates |
|
Address: |
Ahmedabad |
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Name: |
Sunder Srini and Sridahar |
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Address: |
Banglore |
|
Name : |
Kailash Chand Jain and Company |
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Address: |
Mumbai |
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Name: |
Kulkarni and Bhat |
|
Address: |
Goa |
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Name: |
Chaturvedi and Company |
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Address: |
Kolkata |
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Name: |
C Ramachandram and Company |
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Address: |
Hyderabad |
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Name: |
Bhandawat and Company |
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Address: |
Jaipur |
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Name : |
Annand And Ponnappan |
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Address: |
Chennai |
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Name : |
Jhalani and Company |
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Address |
New Delhi |
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Name : |
Basga and Narasimhan |
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Address: |
Visakhapatnam |
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Memberships : |
Not Divulged |
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Collaborators : |
Not Divulged |
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Joint Venture |
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Subsidiaries : |
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Associates : |
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CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000000 |
Equity Shares |
Rs .1/- each |
Rs.1000.000 Million |
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|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000000 |
Equity Shares |
Rs. 1/- each |
Rs.1000.000 Million |
|
|
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|
During 2010-11, 50,000,000
shares of the company of ` 10/- each were divided into 500,000,000 shares of Rs.
1/- each and bonus shares were issued in the ratio of 1:1 by capitalizing a sum
of ` 500 million from general reserve.
The Company has one class
of share capital, comprising ordinary shares of Rs. 1/- each. Subject to the
Company’s Articles of Association and applicable law, the Company’s ordinary
shares confer on the holder the right to receive notice of and vote at general
meetings of the Company, the right to receive any surplus assets on a
winding-up of the Company, and an entitlement to receive any dividend declared
on ordinary shares.
The Company does not have
any holding company. Hence no share is held by its holding company or its
subsidiaries or associates.
No shareholder other than
the promoters is holding more than 5% shares of the company. The shareholding
of the promoters i.e. President of India as on 31-03-2014 is 900,000,000 shares
(P.Y. 993,312,000 shares)
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 |
1000.000 |
1,000.000 |
1,000.000 |
|
(b) Reserves &
Surplus |
12418.700 |
12,407.780 |
13,214.010 |
|
(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) |
13418.700 |
13,407.780 |
14,214.010 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
99.470 |
191.180 |
44.810 |
|
(d) long-term provisions |
1824.950 |
1,701.940 |
1,373.720 |
|
Total Non-current
Liabilities (3) |
1924.420 |
2,621.120 |
1,418.530 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
4129.450 |
14,782.910 |
34,298.660 |
|
(b) Trade payables |
14574.820 |
26,704.050 |
32,996.070 |
|
(c) Other current
liabilities |
11732.620 |
8,994.190 |
18,331.950 |
|
(d) Short-term provisions |
1190.100 |
1,198.680 |
2,123.480 |
|
Total Current Liabilities
(4) |
31626.990 |
51,679.830 |
87,750.160 |
|
|
|
|
|
|
TOTAL |
46970.110 |
66,980.730 |
1,03,382.700 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
750.490 |
864.730 |
972.610 |
|
(ii) Intangible Assets |
1.810 |
1.640 |
0.000 |
|
(iii) Capital
work-in-progress |
65.430 |
54.940 |
0.000 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
4456.570 |
4,697.360 |
4,672.870 |
|
(c) Deferred tax assets
(net) |
2261.560 |
1,454.240 |
714.960 |
|
(d) Long-term Loan and Advances |
768.120 |
1,129.810 |
1,095.050 |
|
(e) Other Non-current
assets |
14.600 |
17.430 |
22.910 |
|
Total Non-Current Assets |
8318.580 |
8,220.150 |
7,478.400 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
560.000 |
150.030 |
0.000 |
|
(b) Inventories |
3083.620 |
8,888.240 |
9,244.030 |
|
(c) Trade receivables |
17341.170 |
22,240.970 |
27,706.100 |
|
(d) Cash and cash
equivalents |
4726.700 |
14,600.510 |
28,531.160 |
|
(e) Short-term loans and
advances |
6871.230 |
11,141.520 |
20,147.250 |
|
(f) Other current assets |
6068.810 |
1,739.310 |
10,275.760 |
|
Total Current Assets |
38651.530 |
58,760.580 |
95,904.300 |
|
|
|
|
|
|
TOTAL |
46970.110 |
66,980.730 |
1,03,382.700 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
252695.090 |
285983.590 |
663248.840 |
|
|
Other Income |
2223.390 |
3179.050 |
7270.110 |
|
|
TOTAL (A) |
254918.480 |
289162.640 |
670518.950 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
1613.100 |
2677.610 |
5484.100 |
|
|
Purchases of
Stock-in-Trade |
221713.840 |
265089.340 |
646171.630 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
5727.690 |
87.760 |
(2776.360) |
|
|
Employees benefits
expense |
1894.970 |
2029.210 |
1843.610 |
|
|
Other expenses |
20695.180 |
15671.950 |
12150.810 |
|
|
Exceptional Items |
230.560 |
127.150 |
(1.290) |
|
|
Extraordinary Items |
2104.420 |
2443.640 |
1002.050 |
|
|
TOTAL (B) |
253979.760 |
288126.660 |
663874.550 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION (C) |
938.720 |
1035.980 |
6644.400 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
669.920 |
2194.660 |
5764.250 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
268.800 |
(1158.680) |
880.150 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
124.220 |
119.700 |
120.030 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX (E-F) (G) |
144.580 |
(1278.380) |
760.120 |
|
|
|
|
|
|
|
Less |
TAX (I) |
(41.840) |
(572.140) |
52.940 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
(G-I) (J) |
186.420 |
(706.240) |
707.180 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD (K) |
6444.490 |
7257.190 |
6915.560 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
General Reserve |
9.400 |
0.000 |
75.000 |
|
|
Proposed Dividend |
150.000 |
100.000 |
250.000 |
|
|
Tax on Dividend |
25.490 |
0.000 |
40.560 |
|
|
Sustainable Development Reserve |
(2.110) |
2.110 |
0.000 |
|
|
Corporate Social Responsibility
Reserve |
(4.230) |
4.360 |
0.000 |
|
|
Research and development reserve |
3.540 |
0.000 |
0.000 |
|
|
Total (M) |
182.090 |
106.470 |
365.560 |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S (J+K+L-M) |
6448.820 |
6444.480 |
7257.180 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
FOB value of good exported |
39116.580 |
29792.32 |
20388.94 |
|
|
Interest and Dividends |
0.000 |
101.76 |
248.96 |
|
|
Dispatch / Demurrage |
21.960 |
23.62 |
13.87 |
|
|
Others (specify) |
68.020 |
88.97 |
47.45 |
|
|
TOTAL EARNINGS |
39206.560 |
30006.670 |
20699.220 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Goods-in-Trade |
160033.600 |
198972.040 |
603374.400 |
|
|
Raw Materials |
1582.760 |
2684.150 |
5419.950 |
|
|
TOTAL IMPORTS |
161616.360 |
201656.190 |
608794.350 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
0.19 |
(0.71) |
0.71 |
QUARTERLY RESULTS
|
Particulars |
30.06.2014 |
30.09.2014 |
30.12.2014 |
|
Audited / Unaudited |
Unaudited |
Unaudited |
Unaudited |
|
Net Sales |
51867.400 |
2,5198.200 |
5,5478.600 |
|
Total Expenditure |
51524.500 |
2,5455.600 |
5,5571.000 |
|
PBIDT (Excl OI) |
342.900 |
(257.400) |
(92.400) |
|
Other Income |
319.700 |
279.400 |
254.600 |
|
Operating Profit |
662.600 |
22.000 |
162.200 |
|
Interest |
33.000 |
23.400 |
68.400 |
|
Exceptional Items |
12.300 |
(55.600) |
(361.300) |
|
PBDT |
641.900 |
(57.000) |
(267.500) |
|
Depreciation |
24.200 |
131.500 |
11.300 |
|
Profit Before Tax |
617.700 |
(188.500) |
(278.800) |
|
Tax |
210.000 |
(87.700) |
(71.200) |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
407.700 |
(100.800) |
(207.600) |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
|
Net Profit |
407.700 |
(100.800) |
(207.600) |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
0.07 |
(0.25) |
0.11 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
0.37 |
0.36 |
1.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.36 |
(2.10) |
0.78 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.01 |
(0.10) |
0.05 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.31 |
1.10 |
2.41 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.22 |
1.14 |
1.09 |
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 |
1000.000 |
1000.000 |
1000.000 |
|
Reserves & Surplus |
13214.010 |
12407.780 |
12418.700 |
|
Net worth |
14214.010 |
13407.780 |
13418.700 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
34298.660 |
14782.910 |
4129.450 |
|
Total borrowings |
34298.660 |
14782.910 |
4129.450 |
|
Debt/Equity ratio |
2.413 |
1.103 |
0.308 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
663248.840 |
285983.590 |
252695.090 |
|
|
|
(56.881) |
(11.640) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
663248.840 |
285983.590 |
252695.090 |
|
Profit |
707.180 |
(706.240) |
186.420 |
|
|
0.11% |
(0.25)% |
0.07% |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
No |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
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 |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
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 |
Yes |
|
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 |
RESULTS
OF OPERATIONS
The company, one of the leading
trading companies in India, recorded a business turnover of Rs. 250746.310
million during 2013-14 as against the business turnover of Rs.284156.230
million registered last fiscal. This business turnover includes Exports of
Rs.41270.270 million, Imports of Rs.187134.510 million and domestic trade of
Rs.22341.530 million. The other trade related earnings contributed Rs.1948.780
million. The trading profit earned by the Company stood at Rs.3455.790 million
as against Rs.2997.480 million during last fiscal. The Company has reported Net
Profit of Rs.186.420 million in the current fiscal compared to net loss of
Rs.706.240 million during last year.
AWARDS & RANKINGS
Following Awards and
Rankings were conferred on the Company during 2013-14:
·
CAPEXIL's
Highest Export Award for the year 2011-12 for its export achievement in respect
of Canalized Agency (Minerals & Ores Sector) - 21st time in a row.
·
Certificate
of Excellence from the Directorate of Export Promotion and Marketing,
Government of Odisha for outstanding performance in the export of Pig Iron
under Metallurgy group and in the Export of Iron ore, Chrome Ore &
Concentrate under Minerals Group for the year 2010-11.
·
Rajbhasha
Trophy for FY 2013-14 by Ministry of Commerce. Second prize for excellence in
implementation of Official Language Policy
MANAGEMENT DISCUSSION AND
ANALYSIS REPORT 2013-14
OVERVIEW OF GLOBAL TRADE
AND DEVELOPMENTS
The IMF World Economic
Outlook(WEO), released in January 2014, highlights that global economic activity
has picked up during the second half of 2013 with expectation of further
improvement in 2014-15. The outlook has projected world growth at 3.7% in 2014
and by 3.9% in 2015. It also mentions that recovery in global economy will be
supported by improvement in the advanced economies as final demand in advanced
economies has expanded with higher inventory demand. On the other hand
financial condition in emerging markets has remained tight with equity prices
not fully recovered and some currencies under pressure after US tapering
announcement in May 2013.
The growth in EMDEs is
expected to increase to 5.1% in 2014 and 5.4% for 2015. China is projected to
grow at the rate of 7.5% and 7.3% for 2014 and 2015. The growth in China
rebounded in second half of 2013 due to improvement in investment. Growth in
India picked up after a favourable monsoon and export growth and is expected to
firm further on stronger structural policies.
WTO ranked India as the
19th largest merchandise exporter in the world, with a share of 1.6% of the
global trade and the 10th largest importer with a share of 2.6% of global
imports in 2012(STO's International Trade Statistics, 2013). In Commercial
Services Trade, India was the 6th largest exporter with 3.4% share of world
market and 7th largest importer with 3% share of world market.
OVERVIEW OF DEVELOPMENTS IN
INDIA DURING 2013-14
India's current account
deficit has improved dramatically from 4.7% of GDP in 2012-13 to 1% in 2013-14.
India's foreign exchange reserves increased from US$ 292 billion at the end of
March 2013 to US$ 304.2 billion at the end of March, 2014. India's economic
growth remained subdued at 4.7% in 2013-14 and at 4.6% in the fourth quarter of
the financial year, mainly due to a decline in manufacturing and mining output.
The country's economy, or gross domestic product (GDP), had expanded at 4.5% in
2012-13, the slowest pace in the past decade. Growth in 2013-14 was less than
the Central Statistics Office's advance estimated of 4.9%. The economy expanded
4.4% in the fourth quarter. INR fluctuated from Rs.53.7355 to Rs.68.3611 per
US$ during FY 2013-14. The expectation of a new Government to revive the
economy would create positive sentiments in the market which would bode well
for the economy.
MMTC- 2013-14 IN RETROSPECT
FINANCIAL REVIEW
The Company
achieved a business turnover of Rs.250746.300 million during 2013-14 as against
the business turnover of Rs. 284156.230 million registered last fiscal. This
business turnover includes Exports of Rs. 41270.270 million, Imports of Rs. 187134.510
million and domestic trade of Rs. 22341.530 million. The other trade related
earnings contributed Rs. 1948.780 million. Your Company earned trading profit
of Rs.3455.790 million as compared to Rs. 2997.480 million in 2012-13. The
profit before tax from ordinary activities is Rs.2249.000 million as compared
to Rs.1165.260 million in 2012-13. The Company has registered a net Profit of
Rs.186.420 million during the year as compared to a Net Loss of Rs.706.240
million during last year. Thus the earnings per share of face value of Re.1/-
each for the financial year 2013-14 after the said extra-ordinary activity led
to a positive figure of Rs. 0.19. The company’s management of financial
resources yielded net interest earnings of Rs.707.590 million. There was a corporate tax liability
of Rs.752.240 million on the Company during 2013-14. MMTC continues to be a
zero long-term debt company.
GENERAL INFORMATION:
The company is incorporated
and domiciled in India, and a Mini- Ratna public sector undertaking under the
administrative control of Ministry of Commerce & Industry, Government of
India. The registered office of the Company is situated at Core-1, Scope
Complex, 7, Institutional Area, Lodi Road, New Delhi-110003, and India. The company
has 11 regional offices at various places in India and a wholly owned
subsidiary MMTC Transnational Pte Ltd. (MTPL), Singapore.
The principal activities of
the Company are export of Minerals and import of Precious Metals, Non-ferrous
metals,
Fertilizers, Agro Products,
coal and hydrocarbon etc.
The company’s trade
activities span across various countries in Asia, Europe, Africa, Middle East,
Latin America and North America.
STATEMENT OF STANDALONE AND AUDITED FINANCIAL RESULTS FOR THE QUARTER AND
NINE MONTHS ENDED ON 31.12.2014
|
|
Particulars |
Quarter Ended |
Nine Month Ended
|
|
|
|
|
31.12.2014 (Unaudited) |
31.09.2014 (Unaudited) |
31.12.2014 (Unaudited) |
|
1 |
Income From
Operations |
|
|
|
|
|
(a) Net sales / income
from operations (Net of excise duty) |
55417.500 |
25117.900 |
132333.900 |
|
|
(b)Other
Operating income |
61.100 |
80.300 |
200.300 |
|
|
Total Income
from operation |
55478.600 |
25198.200 |
132534.200 |
|
|
|
|
|
|
|
2 |
Expenses |
|
|
|
|
|
(a) Cost of
Material consumed |
217.000 |
617.600 |
985.900 |
|
|
(b) Purchases of
stock-in-trade |
54838.600 |
21677.200 |
126594.200 |
|
|
(c) Changes in
Inventories of finished goods, Work-in-progress and stock-in-trade |
(2560.400) |
289.200 |
(3647.800) |
|
|
(d) Employee
benefits expense |
445.400 |
488.800 |
1412.700 |
|
|
(e) Depreciation
and amortization expenses |
11.300 |
131.500 |
167.000 |
|
|
(f) Other
Expenses |
2630.400 |
2382.900 |
7196.200 |
|
|
Total expenses |
41449.200 |
47508.600 |
251769.000 |
|
|
|
|
|
|
|
3 |
Profit / (Loss)
from operations before other income, finance costs and exceptional items
(1-2) |
(103.700) |
(388.900) |
(174.000) |
|
|
|
|
|
|
|
4 |
Other income |
254.600 |
279.400 |
853.700 |
|
|
|
|
|
|
|
5 |
Profit / (Loss)
From Ordinary activities before finance costs and exceptional items (5-6) |
150.900 |
(109.500) |
679.700 |
|
6 |
Finance Costs |
68.400 |
23.400 |
124.800 |
|
|
|
|
|
|
|
7 |
Profit / (Loss) From ordinary activities after finance
cost but before exceptional items (5-6) |
82.500 |
(132.900) |
554.900 |
|
8 |
Exceptional
items |
361.300 |
55.600 |
404.500 |
|
|
|
|
|
|
|
9 |
Profit / (Loss)
From ordinary activities before tax (7-8) |
(278.800) |
(188.500) |
150.400 |
|
|
|
|
|
|
|
10 |
Tax expense |
(71.200) |
87.700 |
51.100 |
|
|
|
|
|
|
|
11 |
Net Profit /
(Loss) from ordinary activities after tax (9-10) |
(207.600) |
(100.800) |
99.300 |
|
|
|
|
|
|
|
12 |
Extraordinary
items (net of tax expense) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
13 |
Net Profit / Loss for the period (11-12) |
(207.600) |
(100.800) |
99.300 |
|
|
|
|
|
|
|
14 |
Shares of Profit
/ (loss) of associates |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
15 |
Minority
interest |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
16 |
Net Profit /
(Loss) after taxes, minority interest and share of profit / (loss) of associates (13+14+15) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
17 |
Paid-up equity
share Capital (Face value of
the share Rs. 1/- ) |
100.00 |
100.00 |
100.00 |
|
|
|
|
|
|
|
18 |
Reserve
excluding revaluation Reserves as per balance sheet of previous accounting
year |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
19 i |
Earnings per share
(before extraordinary items) (of Rs. 1/-each) (not annualized): |
|
|
|
|
|
(a) Basic |
(0.21) |
(0.10) |
0.10 |
|
|
(b) Diluted |
(0.21) |
(0.10) |
0.10 |
|
|
|
|
|
|
|
19 ii |
Earnings per share
(after extraordinary items) (of Rs. 1/- each) (not annualized): |
|
|
|
|
|
(a) Basic |
(0.21) |
(0.10) |
0.10 |
|
|
(b) Diluted |
(0.21) |
(0.10) |
0.10 |
|
|
See accompanying
note to the financial results |
|
|
|
INFORMATION FOR THE QUARTER AND MONTHS ENDED ON 31.12.2014
|
|
Particular |
Quarter Ended |
Nine Month Ended
|
|
|
|
|
31.12.2014 (Unaudited) |
31.09.2014 (Unaudited) |
31.12.2014 (Unaudited) |
|
A |
PARTICULARS, OF SHAREHOLDING |
|
|
|
|
1 |
Public Shareholding |
|
|
|
|
|
-Number Of shares |
100731238 |
100731238 |
100731238 |
|
|
-Percentage of shareholding |
10.07 |
10.07 |
10.07 |
|
|
|
|
|
|
|
2 |
Promoters and Promoter Group Shareholding |
|
|
|
|
|
a) Pledged / Encumbered |
|
|
|
|
|
-Number Of shares |
--- |
--- |
--- |
|
|
-Percentage of share (as a % of the total
shareholding of promoter and promoter group) |
--- |
--- |
--- |
|
|
-Percentage of share (as a % of the total
share capital of the company) |
--- |
--- |
--- |
|
|
b) Non - encumbered |
|
|
|
|
|
-Number Of shares |
899268762 |
899268762 |
899268762 |
|
|
Percentage of share (as a % of the total
shareholding of promoter and promoter group) |
100.000 |
100.000 |
100.000 |
|
|
-Percentage of share (as a % of the total
share capital of the company) |
89.93 |
89.93 |
89.93 |
|
|
Particulars |
3 Months ended
31.12.2014 |
|
B |
INVESTOR COMPLAINTS |
|
|
|
Pending at the beginning of the quarter |
0 |
|
|
Received during the quarter |
5 |
|
|
Disposed of during the quarter |
5 |
|
|
Remaining unresolved at the end of the
quarter |
0 |
SEGMENT WISE REVENUE, RESULTS AND CAPITAL EMPLOYED
|
|
Particular |
Quarter Ended |
Nine Month Ended
|
|
|
|
|
31.12.2014 (Unaudited) |
31.09.2014 (Unaudited) |
31.12.2014 (Unaudited) |
|
|
Segment Revenue |
|
|
|
|
|
a) Precious Metals |
10561.300 |
10241.300 |
36753.600 |
|
|
b) Metals |
1513.300 |
2478.000 |
6513.600 |
|
|
c) Minerals |
2143.000 |
4774.500 |
12481.400 |
|
|
d) Coal and Hydrocarbon |
5419.400 |
4574.400 |
14266.900 |
|
|
e) Agro Products |
67.000 |
121.000 |
2898.100 |
|
|
f) Fertilizers |
35699.200 |
2897.500 |
69355.900 |
|
|
g) General Trade / Others |
14.300 |
31.200 |
65.400 |
|
|
TOTAL |
55417.500 |
25117.900 |
132333.900 |
|
|
|
|
|
|
|
|
Less. Inter Segment revenue |
|
|
|
|
|
|
|
|
|
|
|
Net Sales |
55417.500 |
25117.900 |
132333.900 |
|
|
|
|
|
|
|
|
Segment Results |
|
|
|
|
|
Profit/(Loss) before tax and interest from each segment |
|
|
|
|
|
a) Precious Metals |
115.400 |
104.400 |
741.300 |
|
|
b) Metals |
25.500 |
85.300 |
218.200 |
|
|
c) Minerals and Ores |
53.100 |
95.100 |
290.200 |
|
|
d) Hydrocarbon |
71.300 |
40.000 |
180.000 |
|
|
e) Agro Products |
1.300 |
0.800 |
44.300 |
|
|
f) Fertilizers |
(262.900) |
33.600 |
(200.600) |
|
|
g) Others |
11.900 |
28.900 |
58.200 |
|
|
TOTAL |
15.600 |
388.100 |
1331.600 |
|
|
|
|
|
|
|
|
Less: i) Interest (Net) |
(196.100) |
(208.800) |
(602.100) |
|
|
ii) Other un-allocable expenditure net off unallowable income |
490.500 |
785.400 |
1783.300 |
|
|
Profit from ordinary activities before tax |
(278.800) |
(188.500) |
150.400 |
|
|
|
|
|
|
|
|
Capital Employed |
7981.900 |
8189.500 |
7981.800 |
|
|
|
|
|
|
|
|
a) Precious Metals |
2394.600 |
2456.800 |
2394.600 |
|
|
b) Metals |
1197.300 |
1228.400 |
1197.300 |
|
|
c) Minerals and Ores |
79.800 |
81.900 |
79.800 |
|
|
d) Hydrocarbon |
1596.400 |
1637.900 |
1596.400 |
|
|
e) Agro products |
2394.500 |
2456.700 |
2394.500 |
|
|
f) Fertilizers |
|
|
|
|
|
g) Others |
319.300 |
327.600 |
319.300 |
NOTE :
- Consequent to Supreme Court judgement, Government
of India has cancelled the coal block allotted to the company.
Accordingly, an amount of Rs. 65.700 Million incurred and shown under
'capital work-in progress' has been charged to P&L account under
'other expenses' during the quarter ended 30th Sept 2014 Any further
expenses in future shall be charged to P&L account directly.
- The Company has revised depreciation
rates in respect of certain fixed assets w.e.f. 1st April 2014 in line
with schedule II of the Companies Act, 7013 linking it with useful life
specified therein. Accordingly the company has charged less depreciation
amounting to Rs. 5.600 Million for the nine months in the financial
results and charged Rs. 5.000 Million to reserves in terms of the
transitional provisions of said Schedule II.
- Under the head ’Depreciation and
Amortization Expense', an amount of Rs. 106.900 Million has been provided
upto 30th Sept 2014 towards impairment of railway wagons procured under
WIS scheme of Railways during 2006-07 for a period of 10 years and which
could not be utilized during last few years due to restriction on export
of Iron ore from the country.
- Exceptional Items & Segment results
for the period ended 31.12.2014 includes Rs. 89.500 Million being loss on
valuation of inventory (Precious Metals Rs. 27.200 Million and Minerals
Rs. 62.300 Million) due to net realizable value being lower than cost as
on 31.12.2014. Further, it also includes Rs. 314.700 Million being
provision made during the quarter ended 31st Dec 2014 towards litigation
settlement and Rs. 3.500 Million being provision made towards loss due to
difference in physical stock of silverware as compared to stock maintained
in Retail Management System (RMS).
- The Statutory Auditors have given
certain qualifications/observations in the Audit Report on the accounts
for the year ended 31st March 2014, which have no impact on the profit or
loss of the company for the quarter ended 31st Dec. 2014. Accordingly, no
adjustment has been considered necessary efforts are regularly made by the
company to write off old dues. The Company has further strengthened
internal control system by bringing out various manuals, operational
drills, Risk Management Policy etc.
- The financial results are based on the
accounts drawn in accordance with generally accepted accounting principles
consistently followed in compliance with the mandatory Accounting
Standards and are reported in the format prescribed by SEBI.
- Wherever necessary, previous quarters/year's
figures have been re-grouped /re-arranged accordingly to make them
comparable.
- The financial results have been
reviewed by Audit Committee & approved by the Board of Directors at
the meeting hold on 11th Feb, 2015 & limited review of the same has
been carried out by Statutory Auditors of the company.
INDEX CHARGES:
|
S. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10393791 |
17/12/2012 |
2,500,000,000.00 |
AXIS BANK LIMITED |
2nd Floor, Statesman
House, 148, Barakhamba Road, |
B64809569 |
|
2 |
10258043 |
13/12/2010 |
2,250,000,000.00 |
STANDARD CHARTERED BANK |
Narain Manzil Branch, 23, Barakhamba Road, New Delhi, Delhi - 110001, India |
B02097053 |
|
3 |
10116574 |
08/02/2011 * |
3,000,000,000.00 |
AXIS BANK |
148, Barakhamba Road, New Delhi, Delhi - 110001, India |
B05591987 |
|
4 |
80014085 |
18/11/2009 * |
7,000,000,000.00 |
IDBI BANK LTD |
Surya Kiran Building 11th Floor, 19, Kasturba Gandhi Marg, New Delhi, Delhi - 110001, India |
A74219940 |
|
5 |
80054192 |
23/08/2012 * |
3,000,000,000.00 |
ICICI BANK LIMITED |
ICICI Bank Towers, Bhishma Pitamah Marg, Pragati Vihar, Lodhi Road, New Delhi, Delhi - 110003, India |
B57114605 |
|
6 |
80008644 |
30/07/2012 * |
2,000,000,000.00 |
UNION BANK OF INDIA |
Overseas Branch, 26/28-D Connaught Place, New Delhi, Delhi - 110001, India |
B56406507 |
|
7 |
90042588 |
07/09/2012 * |
2,300,000,000.00 |
BANK OF MAHARASHTRA |
B-29, Connaught Place, New Delhi, Delhi - 110001, India |
B58091695 |
|
8 |
80016470 |
12/07/2012 * |
500,000,000.00 |
INDIAN OVERSEAS BANK |
F-47, Malhotra Building, Janpath, New Delhi, Delhi - 110001, India |
B44254043 |
|
9 |
90041820 |
17/06/2009 * |
9,500,000,000.00 |
STATE BANK OF HYDERABAD |
Core #6, Scope Complex, 7, Institutional Area, Lodhi Road, New Delhi, Delhi - 110003, India |
A64772197 |
|
10 |
90041867 |
04/08/2012 * |
200,000,000.00 |
PUNJAB NATIONAL BANK |
International Banking Branch, Barakhamba Road, New Delhi, Delhi - 110001, India |
B56295421 |
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Short-term
borrowings |
|
|
|
Loans repayable on demand form bank unsecured |
2368.680 |
9074.140 |
|
Total |
2368.680 |
9074.140 |
|
Note : The loans have not been
guaranteed by any of the director or others. |
||
FIXED ASSETS
- Land freehold
- Land
Leasehold
- Building
- Drainage
- Plant and
Equipment
- Furniture and
Fixture
- Vehicles
- Office
Equipment
- Railway Wagon
Rakes
- Railway loop
Line at BNHT
- Warehouse
- Computer /
Data Processors
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 records 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 records 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.62.20 |
|
|
1 |
Rs.92.93 |
|
Euro |
1 |
Rs.68.03 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
RCH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILITY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
51 |
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
unfavorable 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.