MIRA INFORM REPORT
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Report No. : |
322768 |
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Report Date : |
20.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
CREST COMPOSITES AND PLASTICS PRIVATE LIMITED |
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Registered
Office : |
Survey No. 609, Village Shetra District Kheda, Ahmedabad – 387560,
Gujarat |
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Tel No.: |
91-2694-281351/281694 |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
22.09.1989 |
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Com. Reg. No.: |
04-012778 |
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Capital
Investment / Paid-up Capital : |
Rs.14.925 Million |
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CIN No.: [Company Identification
No.] |
U25209GJ1989PTC012778 |
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TIN No.: |
Not Available |
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IEC No.: |
0895007321 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACC6333R |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Polymer Resins. |
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No. of Employees
: |
200 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (45) |
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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 336000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. Rating takes into consideration extensive experience of the promoters
in the resins industry supported by sound financial base and fair liquidity
profile of the company. Trade relations are fair. Business is active. Payment terns are
reported to be usually correct. The company can be considered for business dealings 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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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 |
ICRA |
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Rating |
Fund Based – Cash Credit = BB+ (Suspended) |
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Rating Explanation |
Inadequate credit quality and high credit
risk |
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Date |
April 2014 |
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Rating Agency Name |
ICRA |
|
Rating |
Non Fund Based – Letter of Credit = A4+
(Suspended) |
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Rating Explanation |
Minimal degree of safety and very high
credit risk. |
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Date |
April 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. Jagat Patel |
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Designation : |
Senior Manager |
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Contact No.: |
91-9925002438 |
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Date : |
15.05.2015 |
LOCATIONS
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Registered Office/ Research Centre/ Factory 1 : |
Survey No. 609, Village Shetra District Kheda, Ahmedabad – 387560,
Gujarat, India |
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Tel. No.: |
91-2694-281351 / 281694 |
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Mobile No.: |
91-9925002438 (Mr. Jagat Patel) |
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Fax No.: |
91-2694-281352 |
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E-Mail : |
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Website: |
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Location : |
Owned |
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Locality : |
Residential and Industrial |
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Corporate Office / Marketing Office : |
E-44, Satellite Apartment, Near Kameshwar School, Jadhpur char Rasta,
Ahmedabad, Gujarat, India |
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Tel. No.: |
91-79-65121758 |
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Fax No.: |
91-79-66610991 |
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E-Mail : |
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Factory 2 : |
Plot No. 552 (B) and 558 (C), Belur Industrial Area, Village Belur,
Tal. and District-Dharwad, Karnataka, India |
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E-Mail : |
DIRECTORS
As on 27.09.2014
|
Name : |
Mr. Raja Gopal Rangachari |
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Designation : |
Director |
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Address : |
502, Kanha, Parthsarathy Avenue, 132 FT Ring Road, Satellite,
Ahmedabad – 380015, Gujarat, India |
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Date of Appointment : |
07.01.2005 |
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DIN No.: |
00118219 |
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Other Directorship:
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Name : |
Mr. Ranjit Sen |
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Designation : |
Director |
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Address : |
G-44, Satellite Appartment, Jaodhpur 4 Road Crossing, Satellite,
Ahmedabad – 280015, Gujarat, India |
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Date of Appointment : |
09.22.1989 |
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PAN No.: |
AKGPS2030L |
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DIN No.: |
00471492 |
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Other Directorship:
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Name : |
Mr. Susantkumar Pramanik |
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Designation : |
Director |
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Address : |
C/502, Sagun Caasa, Opposites Viraj Vihar Towers, Satellite, Ahmedabad
– 380015, Gujarat, India |
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Date of Appointment : |
02.02.2007 |
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DIN No.: |
01276292 |
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Other Directorship:
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Name : |
Mr. Prakash Ramesh Udeshi |
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Designation : |
Director |
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Address : |
6, Shridhar IX, Near Mann Party Plot, Bodadev, Ahmedabad – 380054,
Gujarat, India |
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Date of Appointment : |
10.05.2006 |
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PAN No.: |
AAJHP9228C |
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DIN No.: |
01619756 |
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Other Directorship:
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KEY EXECUTIVES
|
Name : |
Mr. Jagat Patel |
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Designation : |
Senior Manager |
MAJOR SHAREHOLDERS
As on 27.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Ranjit Sen |
|
63098 |
|
Ashutosh Vaidya |
|
8349 |
|
Sunanda Bose |
|
11830 |
|
Surjit Sen |
|
2761 |
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Suhita Sinha |
|
328 |
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Sukhendu Dasgupta |
|
200 |
|
Suparna Sen |
|
3940 |
|
Ashok Sharma |
|
4760 |
|
S B Sharma |
|
180 |
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V L Gadre |
|
1 |
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Supriya Sen |
|
5115 |
|
R R Gopal |
|
7598 |
|
Susantkumar Pramanik |
|
500 |
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Gayatri Sen |
|
590 |
|
Ami Udeshi |
|
3000 |
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Saraswati Pramanik |
|
7000 |
|
Benasedo Spa |
|
30000 |
|
Total |
|
149250 |
Equity Share Break up (Percentage of Total Equity)
As on 27.09.2014
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
21.10 |
|
Directors or relatives of Directors |
70.90 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Polymer Resins. |
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Products : |
Polymer Resins |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
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Products : |
Polymer Resins |
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Countries : |
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Imports : |
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Products : |
Chemical |
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Countries : |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
200 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
Milind A. Joshi and Associates Chartered Accountants |
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Address : |
Dharmakook, Rambari, Bhadra, Ahmedabad - 380001, Gujarat, India |
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E-Mail : |
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PAN No.: |
AFZPJ0909F |
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Memberships : |
-- |
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Collaborators : |
-- |
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Sister Concern : |
Not Divulged |
CAPITAL STRUCTURE
As on 27.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150000 |
Equity Shares |
Rs.100/- each |
Rs.15.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
149250 |
Equity Shares |
Rs.100/- each |
Rs.14.925 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 |
14.925 |
14.925 |
14.925 |
|
(b) Reserves & Surplus |
102.785 |
95.189 |
88.282 |
|
(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) |
117.710 |
110.114 |
103.207 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
71.438 |
62.797 |
64.389 |
|
(b) Deferred tax liabilities (Net) |
5.082 |
6.666 |
6.465 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
76.520 |
69.463 |
70.854 |
|
|
|
|
|
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(4)
Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
76.166 |
66.641 |
58.799 |
|
(b) Trade
payables |
272.161 |
262.289 |
205.297 |
|
(c) Other
current liabilities |
45.261 |
48.834 |
28.019 |
|
(d) Short-term
provisions |
7.118 |
8.383 |
5.945 |
|
Total Current
Liabilities (4) |
400.706 |
386.147 |
298.060 |
|
|
|
|
|
|
TOTAL |
594.936 |
565.724 |
472.121 |
|
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|
|
|
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II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
121.763 |
121.940 |
114.495 |
|
(ii) Intangible
Assets |
7.041 |
13.556 |
20.071 |
|
(iii)
Capital work-in-progress |
4.426 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.044 |
0.084 |
0.040 |
|
(e) Other
Non-current assets |
0.813 |
0.385 |
0.527 |
|
Total Non-Current
Assets |
134.087 |
135.965 |
135.133 |
|
|
|
|
|
|
(2) Current
assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
69.530 |
82.707 |
66.559 |
|
(c) Trade
receivables |
330.927 |
300.823 |
223.710 |
|
(d) Cash
and cash equivalents |
34.214 |
28.988 |
21.479 |
|
(e) Short-term
loans and advances |
26.178 |
17.241 |
25.240 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
460.849 |
429.759 |
336.988 |
|
|
|
|
|
|
TOTAL |
594.936 |
565.724 |
472.121 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
NA |
NA |
701.613 |
|
|
|
|
Other Income |
NA |
NA |
1.027 |
|
|
|
|
TOTAL |
NA |
NA |
702.640 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
Cost of Materials Consumed |
|
|
589.342 |
|
|
|
|
Changes in Inventories of finished goods, work-in-progress and
stock-in-trade |
|
|
(3.168) |
|
|
|
|
Employee Benefits Expenses |
|
|
15.959 |
|
|
|
|
Other Expenses |
|
|
59.395 |
|
|
|
|
TOTAL |
NA |
NA |
661.528 |
|
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
NA |
NA |
41.112 |
||
|
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES |
NA |
NA |
14.345 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
27.883 |
32.007 |
26.767 |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/
AMORTISATION |
21.820 |
20.914 |
15.337 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX |
6.063 |
11.093 |
11.430 |
||
|
|
|
|
|
|
||
|
Less |
TAX |
2.060 |
2.250 |
4.707 |
||
|
|
|
|
|
|
||
|
Less |
DEFERRED TAX
LIABILITY/(ASSET) |
1.584 |
0.200 |
0.000 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX |
5.587 |
8.643 |
6.723 |
||
|
|
|
|
|
|
||
|
|
PRIOR PERIOD
ADJUSTMENTS |
3.731 |
0.000 |
0.000 |
||
|
|
|
|
|
|
||
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
44.970 |
38.062 |
35.504 |
||
|
|
|
|
|
|
||
|
Less |
APPROPRIATIONS |
|
|
|
||
|
|
|
Proposed Dividend |
1.493 |
1.493 |
1.864 |
|
|
|
|
Corporate Tax On Proposed Dividend |
0.230 |
0.242 |
0.301 |
|
|
|
|
Transfer to General Reserve |
0.000 |
0.000 |
2.000 |
|
|
|
BALANCE CARRIED
TO THE B/S |
52.565 |
44.970 |
38.062 |
||
|
|
|
|
|
|
||
|
|
Earnings /
(Loss) Per Share (Rs.) |
37.43 |
57.91 |
45.45 |
||
Expected Sales (2014-2015): Rs.2000.000 Million
The above information has been parted by Mr. Jagat Patel
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
22.662 |
25.617 |
19.343 |
|
Cash generated from operations |
NA |
NA |
NA |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
NA |
NA |
0.00 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
NA |
NA |
5.86 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.03 |
1.96 |
2.42 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05 |
0.10 |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.45 |
1.18 |
1.19 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.15 |
1.11 |
1.13 |
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 |
14.925 |
14.925 |
14.925 |
|
Reserves & Surplus |
88.282 |
95.189 |
102.785 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
103.207 |
110.114 |
117.710 |
|
|
|
|
|
|
Long Term borrowings |
64.389 |
62.797 |
71.438 |
|
Short Term borrowings |
58.799 |
66.641 |
76.166 |
|
Current Maturities of Long term debt |
19.343 |
25.617 |
22.662 |
|
Total
borrowings |
142.531 |
155.055 |
170.266 |
|
Debt/Equity
ratio |
1.381 |
1.408 |
1.446 |
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 |
No |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
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 |
No |
|
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 one year |
Yes |
|
27 |
Reasons for variation <> 20% |
---------- |
|
28 |
Estimation for coming financial year |
Yes |
|
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 |
UNSECURED LOANS:
|
Particulars |
31.03.2014 Rs. In Million |
31.03.2013 Rs. In Million |
|
LONG TERM BORROWINGS |
|
|
|
Rupee term loans from banks |
1.174 |
3.240 |
|
Rupee term loans from others |
1.675 |
5.854 |
|
Loans and advances from directors |
6.213 |
4.839 |
|
Loans and advances from others |
4.360 |
7.109 |
|
Total |
13.422 |
21.042 |
OPERATIONS:
The economic scenario during the year was not encouraging. This was primarily as a result of many of the infrastructure projects viz power plants, wind energy sewage and potable water line etc. on hold or delayed. There were also no large chemical projects particular in the chloro alkali segments which were to be implemented.
They witnessed some growth in the coil coating operations in the Dharwad plant with the new unit now poised for break-even and expected to make profit in the next financial year.
MARKET
SCENARIO:
With the focus on infrastructure development during the current year, the outlook is positive.
Infrastructure growth would have a positive impact on almost all our product lines with the use of resin in power plant projects, infrastructural projects. An increased business also anticipated on account of construction of food storage to address the food security commitment as well as the govt. plans to extend internet connecting across the length and breadth of the country.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10558328 |
25/03/2015 |
15,000,000.00 |
ORIENTAL BANK OF COMMERCE |
G-2, SAMEDH, NEAR ASSOCIATED PETROL PUMP, C G ROAD, AHMEDABAD, GUJARAT - 380006, INDIA |
C48521603 |
|
2 |
10533147 |
28/11/2014 |
7,900,000.00 |
KOTAK MAHINDRA BANK LIMITED |
27BKC, C 27, BLOCK G, BANDRA KURLA COMPLEX,, BANDRA (EAST), MUMBAI, MAHARASHTRA - 400051, INDIA |
C34745620 |
|
3 |
10471522 |
15/01/2014 |
25,800,000.00 |
SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA |
NAVJIVAN
AMRIT JAYANTI BHAVAN, 1ST FLOOR, NAVJIVA |
B93997286 |
|
4 |
10456930 |
29/10/2013 |
8,000,000.00 |
SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA |
NAVJIVAN
AMRIT JAYANTI BHAVAN, 1ST FLOOR, NAVJIVA |
B88249560 |
|
5 |
10011734 |
25/03/2015 * |
275,800,000.00 |
ORIENTAL BANK OF COMMERCE |
G-2, SAMEDH, NEAR ASSOCIATED PETROL PUMP,, C.G. ROAD, AHMEDABAD, GUJARAT - 380006, INDIA |
C48521918 |
|
6 |
10011732 |
25/03/2015 * |
260,800,000.00 |
ORIENTAL BANK OF COMMERCE |
G-2, SAMEDH, NEAR ASSOCIATED PETROL PUMP,, C.G. ROAD, AHMEDABAD, GUJARAT - 380006, INDIA |
C48521777 |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.58 |
|
|
1 |
Rs.100.30 |
|
Euro |
1 |
Rs.72.38 |
INFORMATION DETAILS
|
Information
Gathered by : |
RKH |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
VNT |
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 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
45 |
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.