MIRA INFORM REPORT
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Report No. : |
321969 |
|
Report Date : |
12.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
DHARIWAL INDUSTRIES PRIVATE LIMITED (w.e.f. 13.03.2014) MANIKCHAND PACKAGING LIMITED (DIVISION OF “DHARIWAL INDUSTRIES PRIVATE LIMITED”) |
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Formerly Known
As : |
DHARIWAL INDUSTRIES LIMITED DHARIWAL TOBACCO PRODUCTS PRIVATE LIMITED |
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Registered
Office : |
Plot No.100/101, D. Kennedy Road, Pune – 411001, Maharashtra |
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Tel. No.: |
91-20-26056099 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
07.11.1988 |
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Com. Reg. No.: |
11-049549 |
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Capital
Investment / Paid-up Capital : |
Rs. 101.700 million |
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CIN No.: [Company Identification
No.] |
U28999PN1988PTC049549 |
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TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACD5896L |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer, Exporter of Tobacco Tobacco Products,
Food Packaging Products. |
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 7500000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Exist |
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Comments : |
Subject is an established company having satisfactory track record. For the financial year ended 2014, the company has reported below
average operational performance which has resulted into dip in topline growth
of the company and it has incurred loss from its operational activities. However, the rating takes into account of company’s leadership
position and established brand in the gutkha market supported by healthy net
worth, strong debt protection metrics and extensive industry experience of
its promoters. Trade relations are fair. Business is active. Payments are reported to
be slow but correct. In view decent brand name backed by healthy net worth profile, the
company can be considered for business dealings at usual trade terms and
condition. |
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 |
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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 |
CRISIL |
|
Rating |
Long Term Rating (BB) |
|
Rating Explanation |
Inadequate credit quality and high credit risk |
|
Date |
September 30, 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. Makrand Kulkarni |
|
Designation : |
Account Department |
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Contact No.: |
91-20-26057099 |
|
Date : |
11.05.2015 |
LOCATIONS
|
Registered / Corporate Office : |
Plot No.100/101, D. Kennedy Road, Pune – 411001, Maharashtra |
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Tel. No.: |
91-20-26056099 |
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Fax No.: |
91-20-26051377 |
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E-Mail : |
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Website : |
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Factory 1: |
Gat No. 1524, Saradwadi, Plot No. 1524 Shirur (Ghodnadi), Pune –
412210, Maharashtra, India |
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Factory 2: |
Nh. No.8, Fazalpur Post Rayka, Vadodara- 391 340, Gujarat, India |
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Tel. No.: |
91-265-2841002/2841003 |
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Fax No.: |
91-265-2840144 |
DIRECTORS
As on: 30.09.2014
|
Name : |
Mr. Rasiklal Manikchand Dhariwal |
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Designation : |
Director |
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Address : |
64, Koregaon Park,
Pune - 411001, Maharashtra, India |
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Date of Birth/Age : |
01.03.1939 |
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Date of Appointment : |
07.11.1988 |
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DIN No.: |
00029638 |
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Name : |
Mr. Prakash Rasiklal Dhariwal |
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Designation : |
Director |
|
Address : |
“Aashirwad” M.G.
Road, Aadat Bazaar, At And Post Ghodnadi, Shirur, Pune -412210, Maharashtra,
India |
|
Date of Birth/Age : |
07.03.1964 |
|
Date of Appointment : |
07.11.1988 |
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PAN: |
AAPPD2287H |
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DIN No.: |
00029496 |
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|
|
Name : |
Mr. Balkrishnan Shanmugham Chettier |
|
Designation : |
Director |
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Address : |
1121 Lakaki Road, Sai
Shraddha Model Colony, Deccan Gymkhana, F C Road Chowk, Pune – 411016, Maharashtra,
India |
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Date of Birth/Age : |
04.04.1944 |
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Date of Appointment : |
28.03.2001 |
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DIN No.: |
00903997 |
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Name : |
Mr. Madan Chandwal Dhadiwal |
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Designation : |
Director |
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Address : |
3, Aashirwad, Anand
Colony, Burudgaon Station Road, Ahmednagar, Pune - 414001, Maharashtra, India |
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Date of Birth/Age : |
21.03.1950 |
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Date of Appointment : |
01.03.2005 |
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DIN No.: |
00978709 |
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Name : |
Mr. Satish Motilal Chopda |
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Designation : |
Director |
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Address : |
543, Sindh Housing
Society, Aundh, Pune - 411007, Maharashtra, India |
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Date of Birth/Age : |
19.04.1957 |
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Date of Appointment : |
30.07.2004 |
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DIN No.: |
00978946 |
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Name : |
Mr. Hiralal Hanumanbagus Malu |
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Designation : |
Director |
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Address : |
Sharyu 171
Mukundnagar, Lane No 9, Pune – 411037, Maharashtra, India |
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Date of Birth/Age : |
02.03.1937 |
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Date of Appointment : |
11.02.1994 |
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DIN No.: |
02146967 |
KEY EXECUTIVES
|
Name : |
Mrs. Pabitra Mohan Swain. |
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Designation : |
Secretary |
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Address : |
B-4, 1st Floor, Kapre Height, Anand Nagar, Pune –
411051, Maharashtra, India |
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Date of Birth/Age : |
16.02.1970 |
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Date of Appointment : |
23.04.2007 |
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PAN No.: |
AKTPS7831E |
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|
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Name : |
Mr. Makrand Kulkarni |
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Designation : |
Account Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Rasiklal Manikchand Dhariwal |
|
16 |
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Prakash Rasiklal Dhariwal |
|
87 |
|
Rasiklal Manikchand Dhariwal-HUF |
|
904 |
|
Dina Prakash Dhariwal |
|
10 |
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Total |
|
1017 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
%20%20-%20321969%2012-May-2015_files/image019.gif)
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter of Tobacco Tobacco
Products, Food Packaging Products. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Cash, L/C and Credit |
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Purchasing : |
Cash, L/C and Credit |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Wholesalers and Retailer’s
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No. of Employees : |
Not Divulged |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
SNK and Company Chartered Accountant |
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Address : |
F-2-B, 4th Floor, The Fifth Avenue,Dhole Patil Road, Pune – 411001, Maharashtra, India |
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PAN.: |
AAJFS8455L |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Entities where KMP/
RKMP have significant influence |
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CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
2500 |
Equity Shares |
Rs.100000/- each |
Rs.250.000 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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|
|
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|
1,017 |
Equity Shares |
Rs. 100000/- each |
Rs.101.700
Million |
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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 |
|
|
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|
(1)Shareholders' Funds |
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(a) Share Capital |
101.700 |
102.000 |
102.000 |
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(b) Reserves & Surplus |
2508.733 |
3970.686 |
3444.941 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
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|
|
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(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
2610.433 |
4072.686 |
3546.941 |
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(3)
Non-Current Liabilities |
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|
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(a) long-term borrowings |
710.195 |
551.582 |
722.653 |
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(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
1.385 |
28.047 |
23.236 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
711.580 |
579.629 |
745.889 |
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(4)
Current Liabilities |
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(a) Short
term borrowings |
58.127 |
38.786 |
28.916 |
|
(b) Trade
payables |
166.366 |
375.966 |
598.212 |
|
(c) Other
current liabilities |
470.721 |
342.769 |
362.785 |
|
(d) Short-term
provisions |
11.331 |
15.028 |
14.041 |
|
Total Current
Liabilities (4) |
706.545 |
772.549 |
1003.954 |
|
|
|
|
|
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TOTAL |
4028.558 |
5424.864 |
5296.784 |
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II.
ASSETS |
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|
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|
(1)
Non-current assets |
|
|
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(a) Fixed
Assets |
|
|
|
|
(i) Tangible
assets |
1472.393 |
1983.556 |
2164.732 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
19.391 |
79.434 |
21.065 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
3.556 |
4.256 |
41.157 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
873.427 |
1051.570 |
371.649 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
|
|
Total Non-Current
Assets |
2368.767 |
3118.816 |
2598.603 |
|
|
|
|
|
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(2)
Current assets |
|
|
|
|
(a)
Current investments |
355.271 |
466.158 |
498.266 |
|
(b)
Inventories |
600.252 |
808.112 |
1035.218 |
|
(c) Trade
receivables |
440.872 |
565.023 |
594.605 |
|
(d) Cash
and cash equivalents |
180.681 |
300.540 |
435.534 |
|
(e)
Short-term loans and advances |
82.715 |
166.215 |
134.558 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
1659.791 |
2306.048 |
2698.181 |
|
|
|
|
|
|
TOTAL |
4028.558 |
5424.864 |
5296.784 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
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SALES |
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Income |
|
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|
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|
|
Other Income |
|
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|
|
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TOTAL |
1903.109 |
3255.665 |
2973.000 |
|
|
|
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|
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|
Less |
EXPENSES |
|
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Administrative Expenses |
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Advertising Expenses |
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TOTAL |
1791.840 |
2317.770 |
2287.930 |
|
|
|
|
|
|
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|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
111.269 |
937.895 |
685.070 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
88.224 |
104.069 |
117.677 |
|
|
|
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|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
23.045 |
833.672 |
567.393 |
|
|
|
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|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
207.971 |
219.756 |
217.480 |
|
|
|
|
|
|
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|
|
PROFIT BEFORE
(LOSS) TAX |
(184.926) |
613.916 |
349.913 |
|
|
|
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|
|
|
|
|
Less |
TAX |
0.000 |
88.171 |
0.903 |
|
|
|
|
|
|
|
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|
PROFIT AFTER
(LOSS) TAX |
(184.926) |
525.745 |
349.010 |
|
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|
Earnings Per
Share (Rs.) |
(181834.81) |
51.54 |
34.22 |
|
%20%20-%20321969%2012-May-2015_files/image003.gif){kind=small}
%20%20-%20321969%2012-May-2015_files/image004.gif){kind=small}
%20%20-%20321969%2012-May-2015_files/image005.gif){kind=small}
%20%20-%20321969%2012-May-2015_files/image006.gif){kind=small}
%20%20-%20321969%2012-May-2015_files/image007.gif){kind=small}
%20%20-%20321969%2012-May-2015_files/image008.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(4.62) |
11.49 |
6.68 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.07) |
0.15 |
0.10 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.29 |
0.14 |
0.21 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.35 |
2.98 |
2.69 |
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 |
102.000 |
102.000 |
101.700 |
|
Reserves & Surplus |
3444.941 |
3970.686 |
2508.733 |
|
Net worth |
3546.941 |
4072.686 |
2610.433 |
|
|
|
|
|
|
long-term borrowings |
722.653 |
551.582 |
710.195 |
|
Short term borrowings |
28.916 |
38.786 |
58.127 |
|
Total borrowings |
751.569 |
590.368 |
768.322 |
|
Debt/Equity ratio |
0.212 |
0.145 |
0.294 |
%20%20-%20321969%2012-May-2015_files/image021.gif)
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) |
|
Total Income |
2973.000 |
3255.665 |
1903.109 |
|
|
|
9.508 |
(41.545) |
%20%20-%20321969%2012-May-2015_files/image023.gif)
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Total Income |
2973.000 |
3255.665 |
1903.109 |
|
Profit/ Loss |
349.010 |
525.745 |
(184.926) |
|
|
11.74% |
16.15% |
(9.72%) |
%20%20-%20321969%2012-May-2015_files/image025.gif)
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 |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
LITIGATION:
|
Case Details |
||
|
Case Type |
Reg. Cri. Case |
|
|
Filing No. |
5200036/2004 Filing date: 02-07-2004 |
|
|
Registration No. |
5200036/2004 Registration date: 02-07-2004 |
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Case code |
203052000362004 |
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CASE STATUS |
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First Hearing Date |
29-10-2005 |
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Next Hearing Date |
24-06-2015 |
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Purpose of Hearing |
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Court No &
Judge |
1 - CHIEF JUDICIAL MAGISTRATE PUNE |
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Petitioner(s) & Advocate(s) |
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Petitioner - State of Maharashtra Address - J.S. Karande Central Excise 41A Sassoon Road Opposite Wadia College Pune Advocate - |
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Respondent(s) & Advocate(s) |
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Respondent - MS. Dhariwal Industries Limited Address - \"Ashirwad\"Adat Bazar Ghodnadi Taluka Shirur District Pune Advocate –
Address - Director M/s Dhariwal Industries Limited Ashirwad Adat Bazar Ghodnadi Taluka Shirur District Pune Advocate - P P Naigaonkar 3) Respondent - Prakash Rasiklal Dhariwal Advocate - P P Naigaonkar |
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ACTS |
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Under Act(s) |
Zilla Parishad & Panchayat Samiti Act |
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Under Section(s) |
PUS 91i |
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Subject |
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LOWER COURT INFORMATION |
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Court No & Name |
--- --- --- |
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Case No & Year |
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Case Decision Date |
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FIR DETAILS |
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Police Station |
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FIR No. |
0 |
Year |
0 |
REDUCTION IN REVENUE OF THE COMPANY:
The Total Revenue of the company during the financial year 2013-2014 have been decreased from Rs. 3255.665 Million to Rs. 1903.109 Million because of Demerger of the said company ( Dhariwal Industries Private Limited) to RMD Buildcon Private Limited, RMD Foods & Beverages Private Limited, Dhariwal Landscapes Private Limited and Dhariwal Lifespaces Private Limited.
UNSECURED LOAN
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Particular |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
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Long-term
Borrowings |
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Deferred payment liabilities |
354.895 |
52.850 |
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Total |
354.895 |
52.850 |
INDEX OF CAHREGS:
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S. NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
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1 |
10508891 |
21/12/2013 |
68,015,000.00 |
UNION BANK OF INDIA |
TILAK ROAD BRANCH, UDYOG BHAVAN, 'C' BLOCK, HEERABAGH, TILAK ROAD, PUNE - 411002, MAHARASHTRA, INDIA |
C11189784 |
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2 |
10461482 |
03/10/2013 |
22,500,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBA I- 400013, MAHARASHTRA, INDIA |
B90016361 |
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3 |
10269871 |
25/09/2012 * |
60,000,000.00 |
MAHESH SAHAKARI BANK LIMITED |
NANA PETH BRANCH, PUNE - 411002, MAHARASHTRA, INDIA |
B60158839 |
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4 |
10212442 |
23/07/2012 * |
717,600,000.00 |
CORPORATION BANK |
#14, PUNE-MUMBAI ROAD, WAKADEWADI - 411003, PUNE, MAHARASHTRA, INDIA |
B57974438 |
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5 |
10211772 |
31/03/2010 |
245,000,000.00 |
THE SARASWAT COOPERATIVE BANK LIMTED |
SME VILE PARLE BRANCH, BHOLANATH CO-OPERATIVE HOUSINF SOCIETY, SUBHASH ROAD, VILE PARLE EAST, MUMBAI - 400057, MAHARASHTRA, INDIA |
A83101113 |
* Date of charge modification
FIXED ASSETS
- Land
(Freehold)
- Building
- Plant and
Machinery
- Vehicle
- Office
Equipments
- Computers
- Furniture and
Fixture
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.63.85 |
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1 |
Rs.98.47 |
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Euro |
1 |
Rs.71.51 |
INFORMATION DETAILS
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Information
Gathered by : |
DPA |
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Analysis Done by
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KRN |
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Report Prepared
by : |
MTN |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL
CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILITY |
1~10 |
- |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
YES |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
YES |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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DEFAULTER |
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--RBI |
YES/NO |
NO |
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--EPF |
YES/NO |
NO |
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TOTAL |
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43 |
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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.