MIRA INFORM REPORT

 

 

Report No. :

322647

Report Date :

18.05.2015

 

IDENTIFICATION DETAILS

 

Name :

KIMPLAS PIPING SYSTEMS LIMITED

 

 

Registered Office :

B-20, MIDC, Ambad, Nashik – 422010, Maharashtra

Tel. No.:

91-253-6622701

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

08.02.1996

 

 

Com. Reg. No.:

11-097037

 

 

Capital Investment / Paid-up Capital :

Rs.180.000 Million

 

 

CIN No.:

[Company Identification No.]

U31909MH1996PLC097037

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

Not Available

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

Line of Business :

Manufacturer of Electro Fusion Fittings.

 

 

No. of Employees :

250 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (41)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having satisfactory track record.

 

For the financial year ended 2014, the company has reported sound operational performance and it has achieved profit from its operational activities.

 

Rating also takes into consideration experience of its promoters in manufacturing and development of electro-fusion products backed by sound financial base and fair liquidity profile of the company.

 

Trade relations are reported as fair. Payment terms are reported to be slow but correct.

 

In view of sound operational, 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 – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

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

ICRA

Rating

Cash credit: B+

Rating Explanation

Risk prone credit quality and carries very high credit risk.

Date

May 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. Sanjay Jadhav

Designation :

Account Officer

Contact No.:

91-253-6622701

Date :

14.05.2015

 

 

LOCATIONS

 

Registered Office / Factory :

B-20, MIDC, Ambad, Nashik-422010, Maharashtra, India 

Tel. No.:

91-253-6622701 / 702

Fax No.:

91-253-6604710

E-Mail :

Akshay.rindni@kimplaspiping.net

Website :

www.kimplaspiping.com

Location :

Owned

 

 

Regional Office :

201, Delta, Hiranandani Gardens, Powai, Mumbai-400076, Maharashtra, India 

 

 

Regional Offices :

Also Located At:

 

·         Noida

·         Chennai

·         Ahmedabad

 

 

DIRECTORS

 

As on 30.09.2014

 

Name :

Mr. Krishen Lal Khanna

Designation :

Director

Address :

Kadamb Van, Satpur – Ambad Link Road, Chunchule, Nashik – 422007, Maharashtra, India

Date of Birth/Age :

16.10.1940

Date of Appointment :

01.10.2011

DIN No.:

01135766

PAN No.:

AAQPK7322M

 

 

Name :

Mr. Anirudh Krishenlal Khanna

Designation :

Director

Address :

1303, Odyassey, Hiranandani Gardens, Powai, Mumbai-400076, Maharashtra, India

Date of Birth/Age :

22.01.1983

Date of Appointment :

30.11.2004

DIN No.:

01135723

PAN No.:

AAFPK5169F

 

 

Name :

Mr. Anant Ramchandra Kshirsagar

Designation :

Director

Address :

61/891, Rama Govind, Priyadarshani Park, Nashik-422009, Maharashtra, India

Date of Birth/Age :

02.09.1954

Date of Appointment :

31.12.2004

DIN No.:

00189299

 

 

Name :

Ms. Neelanjana Rahul Banerjee

Designation :

Director

Address :

Tulika Kadambvan, Behind, Jyoti Farms, Ambad Satpur Link Road, Nashik-422009, Maharashtra, India

Date of Birth/Age :

14.06.1979

Date of Appointment :

29.08.2009

DIN No.:

01671983

 

 

KEY EXECUTIVES

 

Name :

Mr. Alok Singh

Designation :

Secretary

Address :

Sai Raw House No. 1, Behind Express Inn, Patharai Phata, Nashik, Maharashtra, India

Date of Birth/Age :

01.06.1981

Date of Appointment :

11.10.2010

PAN No.:

BMQPS9514N

 

Name :

Ms. Preeti Patki

Designation :

Chief Finance Officer

Address :

Chintamani Row House No.10, Patil Garden, Indira Nagar, Nashik – 422009, Maharashtra, India

Date of Birth/Age :

29.01.1968

Date of Appointment :

23.09.2014

PAN No.:

ABIPP2392K

 

 

Name :

Mr. Sanjay Jadhav

Designation :

Account Officer

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 30.09.2014

 

Names of Shareholders

 

No. of Shares

Trenton Investments Private Limited, India

 

14359922

Garuda Plant Products Limited, India

 

3640000

Anant R Kshirsagar

 

37

Ratakar V Nawghare

 

13

N S Valaypathy

 

2

Akshay Rindani

 

13

Vijay Jadhav

 

13

Total

 

18000000

 

Equity Share Break up (Percentage of Total Equity)

 

As on 30.09.2014

 

Category

Percentage

Bodies corporate

99.99

Other

0.01

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of Electro Fusion Fittings.

 

 

Products :

ITC CODE

PRODUCTS

39174000

EP Flexifit Tapping tee : Plastic pipe fittings for gas, water and infrastructure systems

84818049

Plastic Disc Filter Mash : Sprinklers, the spay instrument used in irrigation systems

 

 

Brand Names :

Not Divulged

 

 

Agencies Held :

Not Divulged

 

 

Exports :

 

Products :

Finished Goods

Countries :

·         UK

·         Egypt

·         UAE

·         Indonesia

 

 

Imports :

 

Products :

Raw Materials

Countries :

·         Dubai

·         Singapore

·         Belgium

 

 

Terms :

 

Selling :

L/C, Cash, Credit

 

 

Purchasing :

L/C, Cash, Credit

 

PRODUCTION STATUS NOT AVAILABLE

 

GENERAL INFORMATION

 

Suppliers :

Reference :

SJS Plastiblends Private Limited, Aurangabad, Maharashtra, India

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :

Reference :

Mahanagar Gas Limited, Mumbai, Maharashtra, India

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

250 (Approximately)

 

 

Bankers :

Industrial Development Bank of India Limited, Sathya Bag. M.G. Road, P.B. No.48, Nashik - 422001, Maharashtra, India

 

Bank Name

Corporation Bank

Branch

Aditi Commerce Centre, H-2406, Gen. Thimmayya Road, East Street, Camp, Pune - 411001, Maharashtra, India

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

Facilities :

Secured Loan

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

Long-term Borrowings

 

 

Term loans from others

13.845

17.645

Rupee term loans from banks

0.000

4.933

Short-term borrowings

 

 

Working capital loans from banks

139.616

127.366

Total

153.461

149.944

 

 

 

Financial Institution :
  • L & T Finance Limited, L&T House, Ballard Estate,, Mumbai - 400001, Maharashtra, India
  • Pyramid Finance Limited,  Salgaocar House F Luis Gomesf Luis Gomes Road, Vasco Da Gama, Goa - 403802, Goa, India

 

 

Auditors :

 

Name :

Desai Associates

Chartered Accountant

Address :

103 Anand Estates, 189 Sane Guruji Marg, Mumbai-400011, Maharashtra, India

PAN N Income-tax PAN of auditor or auditor's firm :

AAAFD4921H

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Holding company:
  • Trenton Investments Private Limited, India [U65920MH1985PTC036142]

 

 

Associates:
  • Garuda Plant Products Limited, India [U74210MH1972PLC015661]

 

 

Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives:
  • Patkaai Plastics Private Limited
  • Kimplas Advance Welding Systems Private Limited, India [U29268MH2009PTC191353]
  • EPC Industrie Limited, India [L25200MH1981PLC025731]
  • Deepanjali Chhapwale

 

 

Subsidiary Company:
  • Kimplas U K Limited

 

 

CAPITAL STRUCTURE

 

As on 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

20000000

Equity Shares

Rs.10/- each

Rs. 200.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

18000000

Equity Shares

Rs.10/- each

Rs. 180.000 Million

 

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

31.03.2014

(12 Months)

31.03.2013

(9 Months)

30.06.2012 (

12 Months)

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

180.000

180.000

60.000

(b) Reserves & Surplus

318.680

296.041

345.266

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

0.000

0.000

32.500

Total Shareholders’ Funds (1) + (2)

498.680

476.041

437.766

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

106.784

112.126

68.259

(b) Deferred tax liabilities (Net)

(25.623)

(12.363)

(0.958)

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

1.879

1.363

1.582

Total Non-current Liabilities (3)

83.040

101.126

68.883

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

156.388

127.366

153.764

(b) Trade payables

146.306

103.860

97.067

(c) Other current liabilities

54.950

55.785

75.807

(d) Short-term provisions

3.557

2.285

1.200

Total Current Liabilities (4)

361.201

289.296

327.838

 

 

 

 

TOTAL

942.921

866.463

834.487

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

568.840

529.596

518.207

(ii) Intangible Assets

3.298

1.794

1.582

(iii) Capital work-in-progress

31.964

47.229

5.068

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

6.770

6.769

6.768

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

19.318

11.450

13.452

(e) Other Non-current assets

2.877

3.184

4.664

Total Non-Current Assets

633.067

600.022

549.741

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

101.302

118.007

144.129

(c) Trade receivables

182.426

120.304

112.723

(d) Cash and cash equivalents

17.208

14.056

10.691

(e) Short-term loans and advances

6.911

12.008

15.083

(f) Other current assets

2.007

2.066

2.120

Total Current Assets

309.854

266.441

284.746

 

 

 

 

TOTAL

942.921

866.463

834.487

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014 (12 Months)

31.03.2013

(9 Months)

30.06.2012 (12 Months)

 

SALES

 

 

 

 

Income

533.207

309.417

289.907

 

Other Income

5.947

1.179

5.341

 

TOTAL (A)

539.154

310.596

295.248

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

178.811

96.580

68.622

 

Purchases of Stock-in-Trade

83.520

53.138

105.345

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

28.391

34.683

(52.221)

 

Employees benefits expense

84.554

64.012

82.033

 

Other expenses

89.636

73.279

100.031

 

Exceptional Items

0.000

0.000

(11.615)

 

TOTAL (B)

464.912

321.692

292.195

 

 

 

 

 

Less

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)

74.242

(11.096)

3.053

 

 

 

 

 

Less

FINANCIAL EXPENSES (D)

33.722

29.391

47.441

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)

40.520

(40.487)

(44.388)

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION (F)

26.283

16.606

18.325

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX (E-F)   (G)

14.237

(57.093)

(62.713)

 

 

 

 

 

Less

TAX (H)

(13.260)

(11.405)

(16.836)

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX  (G-H)   (I)

27.497

(45.688)

(45.877)

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

1.53

(2.54)

(7.65)

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014 (12 Months)

31.03.2013

(9 Months)

30.06.2012 (12 Months)

Current Maturities of Long term debt

41.915

39.087

32.370

Cash generated from operations

NA

NA

NA

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014 (12 Months)

31.03.2013

 (9 Months)

30.06.2012 (12 Months)

Net Profit Margin

(PAT / Sales)

(%)

5.16

(14.77)

(15.82)

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

13.92

(3.59)

1.05

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

1.57

(7.03)

(7.62)

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.03

(0.12)

(0.14)

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

0.61

0.59

0.58

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

0.86

0.92

0.87

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

30.06.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

60.000

180.000

180.000

Reserves & Surplus

345.266

296.041

318.680

Money received against share warrants

0.000

0.000

0.000

 Share Application money pending allotment

0.000

0.000

32.500

Net worth

405.266

476.041

531.180

 

 

 

 

long-term borrowings

68.259

112.126

106.784

Short term borrowings

153.764

127.366

156.388

Current Maturities Of Long-Term Debts

32.370

39.087

41.915

Total borrowings

254.393

278.579

305.087

Debt/Equity ratio

0.628

0.585

0.574

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

30.06.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

289.907

309.417

533.207

 

 

6.730

72.326

 

 

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

30.06.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

289.907

309.417

533.207

Profit

(45.877)

(45.688)

27.497

 

(15.82%)

(14.77%)

5.16%

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check list by info agents

Available in Report (Yes/No)

1

Year of establishment

Yes

2

Constitution of the entity -Incorporation details

Yes

3

Locality of the entity

Yes

4

Premises details

No

5

Buyer visit details

--

6

Contact numbers

Yes

7

Name of the person contacted

Yes

8

Designation of contact person

Yes

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

11

Pan Card No. of Proprietor / Partners

Yes

12

Voter Id Card No. of Proprietor / Partners

No

13

Type of business

Yes

14

Line of Business

Yes

15

Export/import details (if applicable)

Yes

16

No. of employees

Yes

17

Details of sister concerns

Yes

18

Major suppliers

Yes

19

Major customers

Yes

20

Banking Details

Yes

21

Banking facility details

Yes

22

Conduct of the banking account

--

23

Financials, if provided

Yes

24

Capital in the business

Yes

25

Last accounts filed at ROC, if applicable

Yes

26

Turnover of firm for last three years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

No

29

Profitability for last three years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

Yes

32

Litigations that the firm/promoter involved in

--

33

Market information

--

34

Payments terms

Yes

35

Negative Reporting by Auditors in the Annual Report

No

 

OPERATIONAL AND FINANCIAL OVERVIEW

 

The Company is the pioneer in India for manufacture of Electro Fusion and Compression Fittings and Proprietary Products for use in city piped gas and Drinking water Distribution Systems and in Micro irrigation Systems . The financial results of financial year 2013-14 are as under: ·

 

The total income of the company is 539.154 Million in financial year of 2013-14 as compared to Rs. 310.596 Million of previous financial year of 2012-13. This corresponds to an increase of 30.19% on an annualized basis. The profit after tax of the Company is 27.497 Million in F.Y 2013-14 as against loss of Rs 45.688 in F.Y 2012-13. The turnaround of company into profit is a result of concentration of Non Project Business and launch of new products developed by the Company, which have well received in the market. The company is working on further products for all the Segments some of which will be introduced in the coming financial year. It continues to work in both Non Project and Project Business emphasizing the former.

 

UNSECURED LOAN

 

PARTICULARS

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

Long-term Borrowings

 

 

Term loans

12.950

26.486

Loans and advances from others

79.989

63.063

Short-term borrowings

 

 

Other loans and advances, others

16.772

0.000

Total

109.711

89.549

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10552013

26/02/2015

12,500,000.00

RELIGARE FINVEST LIMITED

D3, P3B,, DISTRICT CENTRE, SAKET, NEW DELHI, DELH
I - 110017, INDIA

C45065026

2

10382088

28/08/2012

32,500,000.00

TATA CAPITAL FINANCIAL SERVICES LIMITED

ONE FORBES,, DR. V. B. GANDHI MARG, FORT, MUMBAI,
MAHARASHTRA - 400001, INDIA

B60294204

3

10098064

11/10/2011 *

295,934,000.00

CORPORATION BANK

ADITI COMMERCE CENTRE, H-2406, GEN. THIMMAYYA ROA
D, EAST STREET, CAMP, PUNE, MAHARASHTRA - 411001,
INDIA

B24473472

 

* Date of charge modification

 

CONTINGENT LIABILITIES:

 

(Rs. in million)

PARTICULARS

31.03.2014

31.03.2013

 

 

 

Letters of Credit / Guarantees issued by Banks secured by Fixed Deposits

25.570

31.604

Estimated amount of Contracts remained to be executed on Capital Account and not provided for (Net of Advance)

12.228

4.318

Income Tax matters under dispute with CIT(A), Mumbai

3.234

3.234

 

FIXED ASSETS

 

Tangible assets

 

  • Land
  • Buildings
  • Plant and equipment
  • Furniture and fixtures
  • Vehicles
  • Office equipment

 

Intangible assets

 

  • Goodwill
  • Computer software

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

1]         INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

 

2]         Court Declaration :

No exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

 

3]         Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

 

4]         Record on Financial Crime :

            Charges or conviction registered against subject:                                                           None

 

5]         Records on Violation of Anti-Corruption Laws :

            Charges or investigation registered against subject:                                                        None

 

6]         Records on Int’l Anti-Money Laundering Laws/Standards :

            Charges or investigation registered against subject:                                                        None

 

7]         Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

 

8]         Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

 

9]         Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

 

10]        Press Report :

            No press reports / filings exists on the subject.

 

CORPORATE GOVERNANCE

 

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

 

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

 

 

CONTRAVENTION

 

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.58

UK Pound

1

Rs.100.30

Euro

1

Rs.72.38

 

 

INFORMATION DETAILS

 

Information Gathered by :

DIP

 

 

Analysis Done by :

KAR

 

 

Report Prepared by :

KVT

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILITY

1~10

5

--LIQUIDITY

1~10

4

--LEVERAGE

1~10

4

--RESERVES

1~10

4

--CREDIT LINES

1~10

4

--MARGINS

-5~5

--

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

YES

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

41

 

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

 

--

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.