IRA INFORM REPORT
|
Report No. : |
321135 |
|
Report Date : |
06.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
RUCHI WORLDWIDE LIMITED |
|
|
|
|
Registered
Office : |
Ruchi House, Royal Palms, Survey No. 169, Aarey Milk Colony, Near Mayur Nagar, Goregaon (East), Mumbai – 400065, Maharashtra |
|
Tel. No.: |
91-22-22042867 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
05.06.1996 |
|
|
|
|
Com. Reg. No.: |
11-100016 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.189.407 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15499MH1996PLC100016 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMR08215E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACR4937N |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the business of dealing in edible oils, oil seed extractions, grains, cotton, coffee and other agro products and commodities. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2600000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow But Correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is a subsidiary of Ruchi Soya Industries Limited. It is an established company having a satisfactory track record. Profitability of the company seems to be low during 2014. However, general
financial position of the company seems to be decent. Trade relations are fair. Business is active. Payment terms are
reported to be slow but correct. The company can be considered for business 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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Bank Facilities = BBB (SO) |
|
Rating Explanation |
Have moderate degree of safety and carry moderate credit risk. |
|
Date |
Jan 13, 2015 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities =
A3+ (SO) |
|
Rating Explanation |
Have moderate degree of safety and carry higher credit risk. |
|
Date |
Jan 13, 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
31-03-2014.
INFORMATION DENIED BY
|
Name : |
Mr. Ramesh Gupta |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-22-39388200 |
|
Date : |
04.05.2015 |
LOCATIONS
|
Registered Office : |
Ruchi House, Royal Palms, Survey No. 169, Aarey Milk Colony,
Near Mayur Nagar, Goregaon (East), Mumbai – 400065, Maharashtra, India |
|
Tel. No.: |
91-22-22042867 |
|
Fax No.: |
91-22-22042865 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branch Office : |
614, Tulsiani Chambers, Nariman Point, Mumbai, Maharashtra, India |
|
Tel. No.: |
91-22-22824851 |
|
|
|
|
Corporate Office : |
301, Mahakosh House, 7/5, South Tukoganj, Indore Near Mandir Road,
Indore – 452025, Madhya Pradesh, India |
DIRECTORS
AS ON: 14.08.2014
|
Name : |
Mr. Vijay Kumar Jain |
|
Designation : |
Additional Director |
|
Address : |
C-119, Ground Floor, Suncity, Sector-54, Gurgaon-122002, Haryana,
India |
|
Date of Birth/Age : |
03.10.1957 |
|
Qualification : |
BSC, Diploma in Business Management |
|
Date of Appointment : |
12.01.2011 |
|
DIN No.: |
00098298 |
|
|
|
|
Name : |
Mr. Navin Khandelwal |
|
Designation : |
Additional director |
|
Address : |
5/1,Saket Nagar, Indore – 452018, Madhya Pradesh, India |
|
Date of Birth/Age : |
22.04.1973 |
|
Date of Appointment : |
04.08.2014 |
|
DIN No.: |
00134217 |
|
|
|
|
Name : |
Mr. Dinesh Chandra Shahra |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
14.07.1952 |
|
Qualification : |
Bachelors of
Engineering |
|
Date of Appointment : |
05.06.1996 |
|
DIN No.: |
00533055 |
|
|
|
|
Name : |
Murugan Navamani |
|
Designation : |
Additional Director |
|
Address : |
No 2 C P Ramasamy Road, Alwarpet, Chennai - 600018, Tamilnadu, India |
|
Date of Appointment : |
05.11.2014 |
|
DIN No.: |
01309393 |
|
|
|
|
Name : |
Meera Dinesh Rajda |
|
Designation : |
Additional Director |
|
Address : |
Row House No. 5, Konark Arcade 76, Viman Nagar, Pune - 411014, Maharashtra, India |
|
Date of Appointment : |
30.03.2015 |
|
DIN No.: |
07130303 |
KEY EXECUTIVES
|
Name : |
Mr. Neeraj Kumar Jain |
|
Designation : |
Secretary |
|
Address : |
86, Braheshwari, Annex Near |
|
Date of Birth/Age : |
3.03.1979 |
|
Date of Appointment : |
08.08.2009 |
|
PAN No.: |
AKGPJ5073L |
|
|
|
|
Name : |
Mr. Ramesh Gupta |
|
Designation : |
Finance Manager |
|
|
|
|
Name : |
Mr. A. Aashish |
|
Designation : |
Senior General Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 14.08.2014
|
Names of Shareholders |
No. of Shares |
|
Nitesh Shahra |
100 |
|
Naveen Gupta |
100 |
|
Dinesh Khandelwal |
550 |
|
Ruchi Soya Industries Limited, India |
9939200 |
|
Manish Shahra |
100 |
|
Santosh Shahra |
100 |
|
Kailash Shahra |
550 |
|
Dinesh Shahra (Trustee of Shiva Foundation, India) |
9000000 |
|
|
|
|
TOTAL
|
18940700 |
Equity Share Break up (Percentage of Total Equity)
AS ON: 14.08.2014
|
Category |
Percentage |
|
Bodies corporate |
52.48 |
|
Other top fifty shareholders |
47.52 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of dealing in edible oils, oil seed extractions, grains, cotton, coffee and other agri products and commodities. |
|
|
|
|
Products : |
|
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
Not Divulged |
GENERAL INFORMATION
|
Suppliers : |
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|||||||||||||||
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Customers : |
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No. of Employees : |
Not Divulged |
|||||||||||||||
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|||||||||||||||
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Bankers : |
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|||||||||||||||
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|||||||||||||||
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Facilities : |
|
|
|
|
|
Financial Institution : |
Axis Trustee Services Limited, Axis House, 2nd Floor,
Bombay Dyeing Mills Compound, Pandurang Budhkar Marg, Worli, Mumbai-400025,
Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
Ashok Khasgiwala and Company Chartered Accountants |
|
Address : |
317, Chetak Centre, "Annex", R.N.T. Marg, Indore
- 452001,
Madhya Pradesh, India |
|
PAN No.: |
AACFA7732P |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding Company : |
Ruchi Soya Industries Limited [L15140MH1986PLC038536] |
|
|
|
|
Fellow Subsidiaries : |
Ruchi Agri Trading Pte. Limited |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorized Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
19000000 |
Equity Shares |
Rs.10/- each |
Rs. 190.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
18940700 |
Equity Shares |
Rs.10/- each |
Rs. 189.407
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 |
189.407 |
189.407 |
189.407 |
|
(b) Reserves & Surplus |
731.324 |
708.237 |
572.286 |
|
(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) |
920.731 |
897.644 |
761.693 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.622 |
0.378 |
0.082 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.331 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
0.953 |
0.378 |
0.082 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
1790.741 |
6219.362 |
1829.896 |
|
(b) Trade
payables |
5002.610 |
3894.553 |
3084.415 |
|
(c) Other
current liabilities |
696.986 |
235.552 |
1603.304 |
|
(d) Short-term
provisions |
0.075 |
0.345 |
11.997 |
|
Total Current
Liabilities (4) |
7490.412 |
10349.812 |
6529.612 |
|
|
|
|
|
|
TOTAL |
8412.096 |
11247.834 |
7291.387 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
10.590 |
10.831 |
11.088 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.010 |
0.044 |
0.050 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
46.601 |
9.311 |
6.203 |
|
(e) Other
Non-current assets |
0.428 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
57.629 |
20.186 |
17.341 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1244.619 |
688.537 |
3550.425 |
|
(c) Trade
receivables |
5500.119 |
4699.221 |
1646.040 |
|
(d) Cash and
cash equivalents |
1145.805 |
5322.822 |
1371.598 |
|
(e)
Short-term loans and advances |
348.389 |
340.425 |
524.368 |
|
(f) Other
current assets |
115.535 |
176.643 |
181.615 |
|
Total
Current Assets |
8354.467 |
11227.648 |
7274.046 |
|
|
|
|
|
|
TOTAL |
8412.096 |
11247.834 |
7291.387 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
26771.416 |
28503.531 |
35359.093 |
|
|
|
Other Income |
405.456 |
290.273 |
203.770 |
|
|
|
TOTAL (A) |
27176.872 |
28793.804 |
35562.863 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Material Consumed |
0.000 |
98.849 |
272.911 |
|
|
|
Purchase of Stock In Trade |
26138.071 |
24456.238 |
35547.862 |
|
|
|
Changes in inventories of Finished goods, work in progress and stock
in trade |
(553.393) |
2853.964 |
(1512.085) |
|
|
|
Employee benefits expenses |
9.623 |
10.507 |
8.193 |
|
|
|
Other Expenses |
1076.750 |
836.284 |
603.022 |
|
|
|
TOTAL (B) |
26671.051 |
28255.842 |
34919.903 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
505.821 |
537.962 |
642.960 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
470.160 |
335.600 |
395.796 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
35.661 |
202.362 |
247.164 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.330 |
0.329 |
0.136 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
35.331 |
202.033 |
247.028 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
12.244 |
66.082 |
80.027 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
23.087 |
135.951 |
167.001 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
8763.312 |
5805.820 |
10085.432 |
|
|
|
Other Earnings |
0.240 |
2.048 |
1.106 |
|
|
TOTAL EARNINGS |
8763.552 |
5807.868 |
10086.538 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
9953.668 |
11292.310 |
7538.777 |
|
|
TOTAL IMPORTS |
9953.668 |
11292.310 |
7538.777 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
1.22 |
7.18 |
8.82 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin
(PAT / Sales) |
(%) |
0.09 |
0.48 |
0.47 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
1.89 |
1.89 |
1.82 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.42 |
1.80 |
3.39 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04 |
0.23 |
0.32 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.94 |
6.93 |
2.40 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.12 |
1.08 |
1.11 |
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 |
189.407 |
189.407 |
189.407 |
|
Reserves & Surplus |
572.286 |
708.237 |
731.324 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
761.693 |
897.644 |
920.731 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
1829.896 |
6219.362 |
1790.741 |
|
Total borrowings |
1829.896 |
6219.362 |
1790.741 |
|
Debt/Equity ratio |
2.402 |
6.929 |
1.945 |
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 |
35359.093 |
28503.531 |
26771.416 |
|
|
|
(19.388) |
(6.077) |
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 |
35359.093 |
28503.531 |
26771.416 |
|
Profit |
167.001 |
135.951 |
23.087 |
|
|
0.47% |
0.48% |
0.09% |
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 |
Yes |
|
8] |
No. of employees |
No |
|
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 |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
Yes |
|
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
LITIGATIONS
DETAILS:
|
Bench:-Bombay Presentation Date:03.05.2014
|
||||||||||||||||||||||||||||||||||||||||||
VIEW INDEX OF
CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10371256 |
13/08/2012 |
12,000,000,000.00 |
AXIS TRUSTEE SERVICES LIMITED |
AXIS HOUSE, 2ND FLR, BOMBAY DYEING MILLS COMPOUND, |
B45672953 |
UNSECURED LOAN
|
PARTICULARS |
Rs.
In Million 31.03.2014 |
Rs.
In Million 31.03.2013 |
|
Short Term
Borrowings |
|
|
|
Term Loans from Banks |
1249.862 |
5835.521 |
|
|
|
|
|
TOTAL |
1249.862 |
5835.521 |
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2014 (Rs. in Million) |
31.03.2013 (Rs. in Million) |
|
Guarantees |
1213.800 |
160.500 |
|
Other money for which company is contingently liable |
18008.560 |
1654.093 |
|
Total |
19222.360 |
1814.593 |
OPERATIONS:
During the year, the sales and other income of the Company has been recorded at Rs. 27176.871 Million as against Rs. 28793.804 Million in the previous financial year. The Company recorded Profit after tax of Rs. 23.087 Million as against Rs. 135.951 Million in the previous financial year.
NOTE:
The Registered Office of the company has been shifted from 614, Tulsiani
Chambers, Nariman Point, Mumbai - 400021, Maharashtra, India to the present
address.
FIXED ASSETS
- Buildings
- Office
building
- Furniture and
fixtures
- Office Equipment
- Other
equipments
- Furniture and Fixture
- Vehicles
- Motor
vehicles
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.63.52 |
|
|
1 |
Rs.95.96 |
|
Euro |
1 |
Rs.70.54 |
INFORMATION DETAILS
|
Analysis Done by
: |
RSM |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
49 |
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.