MIRA INFORM REPORT
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Report No. : |
324941 |
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Report Date : |
30.05.2015 |
IDENTIFICATION DETAILS
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Name : |
VIDEOCON INDUSTRIES LIMITED (w.e.f. 10.11.2003) |
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Formerly Known
As : |
VIDEOCON LEASING AND INDUSTRIAL FINANCE PRIVATE LIMITED
(w.e.f. 14.02.1991) ADHIGAM TRADING PRIVATE LIMITED |
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Registered
Office : |
14, K M Stone, |
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Tel No.: |
91-2431-251501/ 02/ 03/ 04 |
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Country : |
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Financials (as
on) : |
31.12.2014 |
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Date of
Incorporation : |
04.09.1986 |
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Com. Reg. No.: |
11-103624 |
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Capital
Investment/ Paid-up Capital: |
Rs.3344.600 Million |
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CIN No.: [Company Identification
No.] |
L99999MH1986PLC103624 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMV09411D NSKV01616G |
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PAN No.: [Permanent Account No.] |
AABCV4012H |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchange. |
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Line of Business
: |
Manufacturer of
Electronic / Electric Consumer Durables and Home Appliances. |
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No. of
Employees: |
Not Divulged |
RATING & COMMENTS
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MIRA’s Rating : |
A (51) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Subject is an
established company having good track record. The company has achieved
a minimal profit during December 2014 however, net worth of the company is
decent. Rating also takes
into consideration the companies leading market position in domestic consumer
electronics and home appliances segment. Trade relations are
reported to be fair. Business is active. Payment terms are reported to be
regular and as per commitment. The company can
be considered normal for business dealing at usual trade terms and
conditions. Note: Financial
are of 18 months ranging from 1st uly 2013 – 31 December 2014. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
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Rating Agency Name |
CARE |
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Rating |
Long Term Fund Based Bank Facilities (A) |
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Rating Explanation |
Adequate degree of safety and carry low
credit risk. |
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Date |
15.04.2015 |
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Rating Agency Name |
CARE |
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Rating |
Short term fund based bank facilities = A1 |
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Rating Explanation |
Very strong degree of safety and carry very
lowest credit risk. |
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Date |
15.04.2015 |
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 DECLINED
MANAGEMENT NON CO-OPERATIVE (Tel. No.: 91-2431-251501)
LOCATIONS
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Registered Office/Factory : |
14, K M Stone, Aurangabad – Paithan Road, Village
Chittegaon, Taluka Paithan, Aurangabad – 431105, Maharashtra, India |
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Tel. No.: |
91-2431-251501/ 02/ 03/ 04 |
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Fax No.: |
91-2431-240391/
251551 |
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E-Mail : |
For General Inquiries : contact@videoconmail.com
For Services : customercare@vgmail.in
For Career : jobs@videocornmail.com
For Marketing : marketing@vgmail.in |
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Website : |
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Corporate Office : |
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Tel. No.: |
91-214-3273091 |
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Factory 2 : |
Village: Chavaj,
Via Society Area, Taluka and District: Bharuch – 392002, Gujarat, India |
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Factory 3 : |
Vigyan Nagar, Industrial Area, Opposite RIICO Office
Shahjahanpur, District Alwar - 301 706, Rajasthan, India |
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Plant : |
Videocon Narmada Glass Division, Videocon House, Village
Chavaj, Disrict Bharuch - 392002, Gujarat, India |
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Marketing Office : |
296, Udyog Vihar, Phase – II, Gurgaon, |
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Tel. No.: |
91-124-4215402 |
DIRECTORS
AS ON 30.06.2013
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Name : |
Mr. Venugopal
Nandlal Dhoot |
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Designation : |
Chairman cum
Managing Director |
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Address : |
90, Manav Mandir,
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Date of Birth/Age : |
30.09.1951 |
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Qualification : |
B.E.
(Electrical), FIE |
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Date of Appointment : |
01.06.2005 |
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Name : |
Mr. Subramanian
Padmanabham |
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Designation : |
Director |
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Address : |
30, Vishrambag Society,
Senapati Bapat Marg, Pune – 411016, |
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Date of Birth/Age : |
01.09.1939 |
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Qualification : |
· IAS · B.Sc. Physics (Honors) · M.Sc. Physics, Bachelor of General Law · Diploma in Developmental Economics – University of Cambridge · Diploma in Management |
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Date of Appointment : |
01.06.2005 |
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Name : |
Maj. Gen.
Chintamani Nilkanth Jatar |
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Designation : |
Director |
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Name : |
Mr. Radhey Shyam
Agarwal |
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Designation : |
Director |
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Address : |
A-102, Chaitanya Tower,
Near Karur Vysya Bank, Prabhadevi, Mumbai – 400025, Maharashtra, India |
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Date of Birth : |
02.10.1942 |
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Date of Appointment : |
30.03.2009 |
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Name : |
Mr. Anil G. Joshi |
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Designation : |
Director |
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Date of Birth : |
17.12.1943 |
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Qualification : |
· M.Sc. Physics/ Electronics · P.G. Diploma – Business Management · C.A.I.I.B (Part I) |
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Date of Appointment : |
29.06.2011 |
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Name : |
Mr. B. Ravindranath |
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Designation : |
Nominee- IDBI Bank Limited |
KEY EXECUTIVES
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Name : |
Mr. Vinod Kumar Bohar |
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Designation : |
Company Secretary |
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Address : |
204, Videocon House, Gangapur Gin Compound, |
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Date of Birth : |
20.05.1974 |
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Date of Appointment : |
20.03.2006 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2015
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Category of Shareholder |
Total No. of Shares |
Total Shareholding as a % of Total No. of Shares |
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(A) Shareholding of
Promoter and Promoter Group |
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564233 |
0.19 |
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218824181 |
74.62 |
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219388414 |
74.81 |
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Total shareholding of
Promoter and Promoter Group (A) |
219388414 |
74.81 |
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(B) Public Shareholding |
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|
42912 |
0.01 |
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|
8811813 |
3.00 |
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|
18176140 |
6.20 |
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|
10156870 |
3.46 |
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|
37187735 |
12.68 |
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|
22995942 |
7.84 |
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Individual shareholders
holding nominal share capital up to Rs. 0.100 Million |
9889691 |
3.37 |
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Individual shareholders
holding nominal share capital in excess of Rs. 0.100 Million |
3585830 |
1.22 |
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|
210037 |
0.07 |
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|
207448 |
0.07 |
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|
2589 |
0.00 |
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|
36681500 |
12.51 |
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Total Public shareholding
(B) |
73869235 |
25.19 |
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Total (A)+(B) |
293257649 |
100.00 |
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(C) Shares held by Custodians
and against which Depository Receipts have been issued |
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0 |
0.00 |
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|
41201226 |
0.00 |
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|
41201226 |
0.00 |
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Total (A)+(B)+(C) |
334458875 |
100.00 |
SHAREHOLDING OF
SECURITIES (INCLUDING SHARES, WARRANTS, CONVERTIBLE SECURITIES) OF PERSONS
BELONGING TO THE CATEGORY PROMOTER AND PROMOTER GROUP
|
Name of the
Shareholder |
Details of Shares
held |
Encumbered shares
(*) |
Total shares
(including underlying shares assuming full conversion of warrants and
convertible securities) as a % of diluted share capital |
|||
|
No. of Shares held |
As a % of grand
total (A)+(B)+(C) |
No |
As a percentage |
As a % of |
||
|
R N Dhoot |
1,34,592 |
0.04 |
0 |
0.00 |
0.00 |
0.04 |
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P N Dhoot |
1,56,808 |
0.05 |
0 |
0.00 |
0.00 |
0.04 |
|
V N Dhoot |
89,575 |
0.03 |
0 |
0.00 |
0.00 |
0.02 |
|
Kesharbai Dhoot |
8,210 |
0.00 |
0 |
0.00 |
0.00 |
0.00 |
|
Sushma Dhoot |
14,942 |
0.00 |
0 |
0.00 |
0.00 |
0.00 |
|
N P Dhoot |
14,934 |
0.00 |
0 |
0.00 |
0.00 |
0.00 |
|
R V Dhoot |
14,097 |
0.00 |
0 |
0.00 |
0.00 |
0.00 |
|
Anirudha Dhoot |
8,098 |
0.00 |
0 |
0.00 |
0.00 |
0.00 |
|
Saurabh Dhoot |
18,088 |
0.01 |
0 |
0.00 |
0.00 |
0.00 |
|
Sushmabai R Dhoot |
50,624 |
0.02 |
0 |
0.00 |
0.00 |
0.01 |
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Akshay R Dhoot |
54,265 |
0.02 |
0 |
0.00 |
0.00 |
0.01 |
|
Dome-Bell Electronics India Private Limited |
1,97,41,704 |
5.90 |
11933000 |
60.45 |
3.57 |
5.32 |
|
Waluj Components Private Limited |
2,34,857 |
0.07 |
0 |
0.00 |
0.00 |
0.06 |
|
Century Appliances Ltd |
10,93,110 |
0.33 |
0 |
0.00 |
0.00 |
0.29 |
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Shree Dhoot Trading & Agencies Ltd |
2,66,04,836 |
7.95 |
25181500 |
94.65 |
7.53 |
7.17 |
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Electroparts India Private Limited |
6,11,110 |
0.18 |
111000 |
18.16 |
0.03 |
0.16 |
|
Force Appliances Private Limited |
12,22,222 |
0.37 |
1222000 |
99.98 |
0.37 |
0.33 |
|
Equity Investments Private Limited |
59,644 |
0.02 |
0 |
0.00 |
0.00 |
0.02 |
|
Yakme Finance & Investment Private Limited |
53,654 |
0.02 |
0 |
0.00 |
0.00 |
0.01 |
|
Kail Ltd |
48,36,110 |
1.45 |
4800000 |
99.25 |
1.44 |
1.30 |
|
Cluster Trade & Investments Private Limited |
45,100 |
0.01 |
0 |
0.00 |
0.00 |
0.01 |
|
Koala Holdings Private Limited |
39,966 |
0.01 |
0 |
0.00 |
0.00 |
0.01 |
|
Tapti Holding Private Limited |
35,566 |
0.01 |
0 |
0.00 |
0.00 |
0.01 |
|
Value Industries Ltd |
4,35,411 |
0.13 |
0 |
0.00 |
0.00 |
0.12 |
|
Southwest Investments Private Limited |
11,122 |
0.00 |
0 |
0.00 |
0.00 |
0.00 |
|
Invex Private Limited |
1,832 |
0.00 |
0 |
0.00 |
0.00 |
0.00 |
|
Greenfield Appliances Private Limited |
1,44,62,140 |
4.32 |
13778761 |
95.27 |
4.12 |
3.90 |
|
Tekcare India Private Limited |
92,70,877 |
2.77 |
8069000 |
87.04 |
2.41 |
2.50 |
|
Synergy Appliances Private Limited |
1,54,10,575 |
4.61 |
10292983 |
66.79 |
3.08 |
4.15 |
|
Platinum Appliances Private Limited |
1,56,04,666 |
4.67 |
11343000 |
72.69 |
3.39 |
4.20 |
|
Solitaire Appliances Private Limited |
1,14,58,330 |
3.43 |
11425000 |
99.71 |
3.42 |
3.09 |
|
Synlene Fabrics Ltd |
28,942 |
0.01 |
0 |
0.00 |
0.00 |
0.01 |
|
Ausherra Properties & Investments Private Limited |
62,50,000 |
1.87 |
6250000 |
100.00 |
1.87 |
1.68 |
|
Julietta Properties & Finvest Private Limited |
62,50,000 |
1.87 |
6250000 |
100.00 |
1.87 |
1.68 |
|
Armacoat Properties & Investment Private Limited |
62,50,000 |
1.87 |
6250000 |
100.00 |
1.87 |
1.68 |
|
Acacia Properties & Investments Private Limited |
62,50,000 |
1.87 |
6250000 |
100.00 |
1.87 |
1.68 |
|
Tangent Electronics Private Limited |
1,22,22,220 |
3.65 |
7222000 |
59.09 |
2.16 |
3.29 |
|
Trend Electronics Limited |
29,06,478 |
0.87 |
2833976 |
97.51 |
0.85 |
0.78 |
|
Neetu Financial Services Private Limited |
2,11,739 |
0.06 |
211000 |
99.65 |
0.06 |
0.06 |
|
Holly Hock Investments Private Limited |
77,830 |
0.02 |
0 |
0.00 |
0.00 |
0.02 |
|
Videocon Realty & Infrastuctures Limited |
3,85,70,518 |
11.53 |
30519300 |
79.13 |
9.12 |
10.39 |
|
Evans Fraser & Company India Limited |
46,08,911 |
1.38 |
4600000 |
99.81 |
1.38 |
1.24 |
|
Nippon Investment & Finance Company Private Limited |
1,32,58,085 |
3.96 |
13032940 |
98.30 |
3.90 |
3.57 |
|
C E India Limited |
7,05,640 |
0.21 |
700000 |
99.20 |
0.21 |
0.19 |
|
Leo Communications Private Limited |
986 |
0.00 |
0 |
0.00 |
0.00 |
0.00 |
|
Total |
21,93,88,414 |
65.60 |
182275460 |
83.08 |
54.50 |
59.10 |
SHAREHOLDING OF SECURITIES
(INCLUDING SHARES, WARRANTS, CONVERTIBLE SECURITIES) OF PERSONS BELONGING TO
THE CATEGORY PUBLIC AND HOLDING MORE THAN 1% OF THE TOTAL NUMBER OF SHARES
|
Name of the
Shareholder |
No. of Shares held |
Shares as % of
Total No. of Shares |
Details of
convertible securities |
Total shares
(including underlying shares assuming full conversion of warrants and
convertible securities) as a % of diluted share capital |
|
|
Number of
convertible securities held |
% w.r.t total
number of convertible securities of the same class |
||||
|
Life Insurance Corporation of India |
15256515 |
4.56 |
0 |
0.00 |
4.11 |
|
IDBI Bank Limited |
4735770 |
1.42 |
0 |
0.00 |
1.28 |
|
Bennett Coleman & Company Limited |
13534035 |
4.05 |
36729013 |
100.00 |
13.54 |
|
Total |
33526320 |
10.02 |
36729013 |
100.00 |
18.93 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of
Electronic / Electric Consumer Durables and Home Appliances. |
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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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Export : |
Not Available |
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Import : |
Not Available |
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Terms : |
Not Available |
GENERAL INFORMATION
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Supplier : |
Not Available |
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Customer : |
Not Available |
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No. of Employees : |
Not Divulged |
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Bankers : |
· Allahabad Bank · Andhra Bank · Punjab National Bank · Bank of Baroda · State Bank of Bikaner and Jaipur · Bank of India State · Bank of Hyderabad · Bank of Maharashtra · State Bank of India · Canara Bank · State Bank of Mysore · Central Bank of India · State Bank of Patiala · Corporation Bank · State Bank of Travancore · Dena Bank · Syndicate Bank · ICICI Bank Limited · The Federal Bank Limited · IDBI Bank Limited · UCO Bank · Union Bank of India · Indian Bank · United Bank of India · Indian Overseas Bank · Vijaya Bank |
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Facilities : |
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Auditors : |
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Name : |
Khandelwal Jain
and Company Chartered
Accountants |
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Address : |
12-B, Baldota
Bhavan, 117, Maharshi Karve Road, Opposite Churchgate Railway Station, Mumbai
- 400020, Maharashtra, India |
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Name : |
Kadam and Company Chartered
Accountants |
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Address : |
“Vedant”, 8/9, Viraj Estate, Opposite Tarakpur Bus Stand Ahmednagar - 414003, Maharashtra, India |
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Tel. No.: |
91-241-2322120/ 30/ 40/ 2358964 |
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E-mail : |
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Subsidiaries [AS ON
30.06.2013] : |
a) Chhattisgarh Power Ventures Private Limited b) Eagle ECorp Limited c) Flair Energy Private Limited (w.e.f. 2nd March, 2011 to 20th October, 2011) d) Liberty Videocon General Insurance Company Limited (w.e.f. 19th December, 2011) e) Middle East Appliances LLC f) Pipavav Energy Private Limited g) Prosperous Energy Private Limited (w.e.f. 1st March, 2011) h) Senator Energy Private Limited (upto 20th October, 2011) i) Triumph Energy Private Limited (upto 20th October, 2011) j) Videocon Electronics (Shenzhen) Limited (Chinese Name - Weiyoukang Electronic (Shenzhen) Company Limited k) Videocon Global Limited l) Videocon Oil Ventures Limited and its subsidiaries * - Videocon Estelle Limited (w.e.f. 14th January, 2011) - Videocon Ivory Limited (w.e.f. 14th January, 2011) - Videocon Hydrocarbon Holdings Limited and its subsidiaries ** - Videocon JPDA 06-103 Limited - Videocon Mozambique - Videocon Indonesia Nunukan Inc - Videocon Energy Brazil Limited - Videocon Australia WA-388-P Limited - Oil Services International S.A.S. m) Videocon Energy Ventures Limited and its subsidiary - Videocon Oman 56 Limited n) Videocon International Electronics Limited and its subsidiaries - Jumbo Techno Services Private Limited - Senior Consulting Private Limited - Videocon Telecommunications Limited and its subsidiary - Datacom Telecommunications Private Limited o) Videocon Energy Limited and its subsidiaries - Videocon Power Ventures Limited and its subsidiaries (upto 20th October, 2011) - Aim Energy Private Limited (upto 20th October, 2011) - Marvel Energy Private Limited (upto 20th October, 2011) - Viable Energy Private Limited (upto 20th October, 2011) - Vital Power Private Limited (upto 20th October, 2011) - Proficient Energy Private Limited and its subsidiaries *** - Instant Energy Private Limited (upto 20th October, 2011) - Orchid Energy Private Limited (upto 20th October, 2011) - Applied Energy Private Limited and its subsidiaries - Comet Power Private Limited - Galaxy Power Private Limited (upto 20th October, 2011) - Percept Energy Private Limite (upto 20th October, 2011) - Unity Power Private Limited * Videocon Oil Ventures Limited was a subsidiary of Videocon Energy Limited up to 1st July, 2011. It became a wholly owned subsidiary of Videocon Industries Limited w.e.f. 2nd July, 2011. ** Videocon Industries Limited w.e.f. 21st December, 2010 acquired 97.54% of the share capital of Videocon Hydrocarbon Holdings Limited (VHHL). w.e.f. 12th July, 2011 VHHL became step down subsidiary of Videocon Industries Limited since Videocon Industries Limited transferred 96.54% of shareholding in VHHL to Videocon Oil Ventures Limited. *** Proficient Energy Private Limited was a subsidiary of Marvel Energy Private Limited up to 19th October, 2011. It became a subsidiary of Videocon Energy Limited w.e.f. 20th October, 2011. |
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Associates and
Joint Ventures [AS ON 30.06.2013]: |
Goa Energy Private Limited - Associate - 26% - Radium Energy Private Limited - Associate - 26% - Videocon Infinity Infrastructure Private Limited - Joint Venture - 50% - IBV Brasil Petroleo Limitada - (50% Joint Venture of Videocon Energy Brazil Limited) - Northwest Energy Private Limited - (Associate of Proficient Energy Private Limited - 47%, w.e.f. 15th September, 2011) |
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Sister Concern [AS ON
30.06.2013] : |
Videocon Appliances Limited |
CAPITAL STRUCTURE
After as ON 31.12.2014
Authorised Capital: Not Available
Issued, Subscribed & Paid-up Capital: Rs.3344.600
Million
AS ON 30.06.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000000 |
Equity Share |
Rs.10/- each |
Rs.5000.000 Million |
|
10000000 |
Redeemable Preference shares |
Rs.100/-each |
Rs.1000.000 Million |
|
|
Total |
|
Rs.6000.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
318771669 |
Equity Share |
Rs.10/- each |
Rs.3187.720
Million |
|
|
Less: Call In Arrears |
|
Rs.0.080
Million |
|
4523990 |
Redeemable Preference shares |
Rs.33.32/-
each |
Rs.150.740
Million |
|
76870 |
8% Cumulative Redeemable Preference shares |
Rs.33.34/-
each |
Rs.2.560
Million |
|
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Total |
|
Rs.3340.940 Million |
Reconciliation of the
Number of Shares:
|
Particulars |
As at 30th June, 2013 |
|
|
No. of Shares |
Rs. In Million |
|
|
a) Equity Shares of
Rs.10/- each |
|
|
|
Outstanding at the beginning of the period |
303021669 |
3030.220 |
|
Issued during the period |
15750000 |
157.500 |
|
Outstanding at the end of the period |
318771669 |
3187.720 |
|
|
|
|
|
b) 8% Cumulative Redeemable
Preference Shares of Rs. 33.32 each (Previous year Rs. 66.66 each) |
|
|
|
Outstanding at the beginning of the period |
4523990 |
301.560 |
|
Issued during the period |
- |
150.820 |
|
Outstanding at the end of the period |
4523990 |
150.740 |
|
|
|
|
|
c) 8% Cumulative
Redeemable Preference Shares of Rs.33.34 each (Previous year Rs.100/- each) |
|
|
|
Outstanding at the beginning of the period |
76870 |
7.690 |
|
Issued during the period |
- |
5.130 |
|
Outstanding at the end of the period |
76870 |
2.560 |
Rights, Preference
and Restrictions:
a) The Company has only one class of equity shares having par value of Rs.10/- per share. Each holder of Equity Shares is entitled to equal right of voting and dividend.
b) In the event of liquidation of the Company, the holders of Equity Shares will be entitled to receive remaining assets of the Company after distribution of all preferential amounts. The distribution will be in proportion to the number of Equity Shares held by the shareholders.
c) The Preference Shares do not have voting rights. They have preference over equity shareholder as to dividend and in case of liquidation.
Details of
Shareholders holding more than 5% Shares:
|
Particulars |
As at 30th June, 2013 |
|
|
No. of Shares |
% of Holding |
|
|
a) Equity Shares of
Rs.10/- each |
|
|
|
Dome-Bell Electronics India Private Limited |
19741049 |
6.19 |
|
Platinum Appliance Private Limited |
15604666 |
4.90 |
|
Shree Dhoot Trading and Agencies Limited |
28404836 |
8.91 |
|
Synergy Appliance Private Limited |
16010575 |
5.02 |
|
Videocon Realty and Infrastructures Limited |
63570518 |
19.94 |
|
|
|
|
|
b) 8% Cumulative Redeemable
Preference Shares of Rs. 33.32 each (Previous year Rs. 66.66 each) |
|
|
|
LIC of India Limited |
441990 |
9.77 |
|
IDBI Bank Limited |
4082000 |
90.23 |
|
|
|
|
|
c) 8% Cumulative Redeemable
Preference Shares of Rs.33.34 each (Previous year Rs.100/- each) |
|
|
|
General Insurance Corporation of India |
76870 |
100.00 |
FINANCIAL DATA
[all figures are
in Rupees Million ]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.12.2014 (18 Months) |
30.06.2013 (18 Months) |
31.12.2011 |
|
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
3344.600 |
3340.940 |
3339.360 |
|
(b) Reserves & Surplus |
100280.900 |
97839.040 |
96190.400 |
|
(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) |
103625.500 |
101179.980 |
99529.760 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
180258.400 |
161449.860 |
60816.220 |
|
(b) Deferred tax liabilities (Net) |
7092.500 |
7076.960 |
7351.210 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
1971.000 |
1473.890 |
1274.620 |
|
Total Non-current
Liabilities (3) |
189321.900 |
170000.710 |
69442.050 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short term borrowings |
46440.400 |
57527.270 |
77567.710 |
|
(b) Trade payables |
11524.700 |
11412.840 |
11726.550 |
|
(c) Other current liabilities |
29785.600 |
28223.930 |
60418.000 |
|
(d) Short-term provisions |
963.200 |
946.850 |
873.920 |
|
Total Current
Liabilities (4) |
88713.900 |
98110.890 |
150586.180 |
|
|
|
|
|
|
TOTAL |
381661.300 |
369291.580 |
319557.990 |
|
|
|
|
|
|
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
66619.300 |
58825.010 |
55030.450 |
|
(ii) Intangible Assets |
0.000 |
458.160 |
820.110 |
|
(iii) Capital work-in-progress |
0.000 |
6674.550 |
7165.070 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
56208.900 |
49327.790 |
47228.990 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
79170.700 |
74741.530 |
55088.180 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
201998.900 |
190027.040 |
165332.800 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
60.400 |
41.630 |
208.110 |
|
(b) Inventories |
24041.000 |
21578.970 |
20807.090 |
|
(c) Trade receivables |
28627.600 |
28327.000 |
27504.420 |
|
(d) Cash and cash equivalents |
24497.000 |
4858.260 |
5045.460 |
|
(e) Short-term loans and advances |
101252.400 |
123663.130 |
99761.490 |
|
(f) Other current assets |
1184.000 |
795.550 |
898.620 |
|
Total Current
Assets |
179662.400 |
179264.540 |
154225.190 |
|
|
|
|
|
|
TOTAL |
381661.300 |
369291.580 |
319557.990 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.12.2014 (18 Months) |
30.06.2013 (18 Months) |
31.12.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
189043.500 |
181572.750 |
126502.220 |
|
|
|
Other Income |
632.500 |
4182.660 |
1063.120 |
|
|
|
|
11651.400 |
0.000 |
0.000 |
|
|
|
TOTAL (A) |
201327.400 |
185755.410 |
127565.340 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
60550.100 |
56643.700 |
40562.960 |
|
|
|
Purchase of Stock in-Trade |
59621.300 |
59133.820 |
38501.830 |
|
|
|
Changes in inventories of finished goods, work-in-progress and Stock-in-Trade |
(1035.800) |
(577.320) |
(140.410) |
|
|
|
Production and Exploration Expenses –Oil and Gas |
0.000 |
12668.340 |
9007.760 |
|
|
|
Employees benefits expense |
4361.700 |
3979.940 |
2253.460 |
|
|
|
Other expenses |
32737.100 |
19660.410 |
13792.490 |
|
|
|
TOTAL (B) |
156234.400 |
151508.890 |
103978.090 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
45093.000 |
34246.520 |
23587.250 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
35189.000 |
27148.180 |
9777.890 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
9904.000 |
7098.340 |
13809.360 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
9858.100 |
8243.500 |
6075.640 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
45.900 |
(1145.160) |
7733.720 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
15.500 |
(428.840) |
2334.610 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
30.400 |
(716.320) |
5399.110 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.08 |
(2.38) |
17.73 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.12.2014 (18 Months) |
30.06.2013 (18 Months) |
31.12.2011 |
|
Current Maturities of Long term debt |
NA |
10892.340 |
48176.280 |
|
Cash generated from operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.12.2014 (18 Months) |
30.06.2013 (18 Months) |
31.12.2011 |
|
Net Profit Margin (PAT / Sales) |
(%) |
0.02 |
(0.39)
|
4.23 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
23.85 |
18.86 |
18.65 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.01 |
(0.37)
|
2.92 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00 |
(0.01)
|
0.08 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.19 |
2.16
|
1.39 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.03 |
1.83
|
1.02 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million ]
DEBT EQUITY RATIO
|
Particular |
31.12.2011 |
30.06.2013 (18 Months) |
31.12.2014 (18 Months) |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
3339.360 |
3340.940 |
3344.600 |
|
Reserves & Surplus |
96190.400 |
97839.040 |
100280.900 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
99529.760 |
101179.980 |
103625.500 |
|
|
|
|
|
|
long-term borrowings |
60816.220 |
161449.860 |
180258.400 |
|
Short term borrowings |
77567.710 |
57527.270 |
46440.400 |
|
Total borrowings |
138383.930 |
218977.130 |
226698.800 |
|
Debt/Equity ratio |
1.390 |
2.164 |
2.188 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.12.2011 |
30.06.2013 (18 Months) |
31.12.2014 (18 Months) |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
126502.220 |
181572.750 |
189043.500 |
|
|
|
43.533 |
4.114 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.12.2011 |
30.06.2013 (18 Months) |
31.12.2014 (18 Months) |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
126502.220 |
181572.750 |
189043.500 |
|
Profit/Loss |
5399.110 |
(716.320) |
30.400 |
|
|
4.27% |
(0.39%) |
0.02% |
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 |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
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) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
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 |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
|
LITIGATION DETAILS |
||||
|
Bench:- Bombay |
||||
|
Lodging No:- |
ITXAL/ 604/2015 |
Failing Date:- |
06.05.2015 |
|
|
|
||||
|
Petitioner:- |
PR. COMMISSIONER OF INCOME TAX - 3 |
Respondent:- |
VIDEOCON INDUSTRIES LIMITED |
|
|
Pet. Adv. |
SURESH KUMAR (I2100) |
|
||
|
District:- |
MUMBAI |
|||
|
Bench:- |
DIVISION |
Category:- |
TAX APPEALS |
|
|
Status:- |
Pre-Admission |
Stage:- |
- |
|
|
Last Date:- |
08.06.2015 |
|
||
|
|
|
|
|
|
|
Last Coram:- |
REGISTRAR (OS) PROTHONOTARY AND SR. MASTER |
|||
|
Act:- |
INCOME TAX ACT, 1961 |
|||
|
Under Section: |
260A |
|||
UNSECURED LOAN
(Rs.
In Million )
|
Particular |
31.12.2014 (18 Months) |
30.06.2013 (18 Months) |
|
Long Term
Borrowings |
|
|
|
Rupee Loan from Bank |
NA |
0.000 |
|
Foreign Currency Convertible Bonds |
NA |
11652.340 |
|
Sales Tax Deferral |
NA |
16.640 |
|
Short-Term
Borrowings |
|
|
|
Loan form Banks |
NA |
7620.830 |
|
Loan form Others |
NA |
13930.050 |
|
|
|
|
|
Total |
NA |
33219.860 |
INDEX OF CAHREGS:
|
S. NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10555684 |
20/03/2015 |
13,500,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BUILDING, GROUND FLOOR, 17, R. KAMANI MARG, BALLARD ESTATE, MUMBAI - 400001, MAHARASHTRA, INDIA |
C47030655 |
|
2 |
10551807 |
25/02/2015 |
2,000,000,000.00 |
INDIAN OVERSEAS BANK |
NARIMAN POINT
BARNCHA, BHAKTAWAR, NARIMAN POINT, |
C44951093 |
|
3 |
10544676 |
30/12/2014 |
2,000,000,000.00 |
IFCI LIMITED |
IFCI TOWER61 NEHRU PLACE, NEW DELHI - 110019, DELHI, INDIA |
C41265174 |
|
4 |
10541020 |
24/12/2014 |
2,500,000,000.00 |
PUNJAB NATIONAL BANK |
LARGE CORPORATE BRANCH,
MAKER TOWER "E", GROUND FLOOR, CUFFE PARADE, MUMBAI - 400005,
MAHARASHTRA, |
C39392782 |
|
5 |
10533505 |
15/11/2014 |
2,000,000,000.00 |
IDBI BANK LIMITED |
224 A, A WING, 2ND FLOOR, MITTAL COURT, NARIMAN POINT, MUMBAI - 400021, MAHARASHTRA, INDIA |
C35139070 |
|
6 |
10529835 |
22/10/2014 |
4,500,000,000.00 |
BANK OF MAHARASHTRA |
INDUSTRIAL FINANCE BRANCH, APEEJAY HOUSE, 130, DR. V. B. GANDHI MARG, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
C32740300 |
|
7 |
10559338 |
30/09/2014 |
2,500,000,000.00 |
YES BANK LIMITED |
NEHRU CENTRE, 9TH
FLOOR, DISCOVERY OF INDIA,, DR. |
C49194020 |
|
8 |
10559343 |
30/09/2014 |
1,000,000,000.00 |
YES BANK LIMITED |
NEHRU CENTRE, 9TH FLOOR,
DISCOVERY OF INDIA, DR. |
C49194434 |
|
9 |
10522567 |
29/09/2014 |
1,500,000,000.00 |
ORIENTAL BANK OF COMMERCE |
LARGE CORPORATE
BRANCH, MAKER TOWER F 14 TH FLOOR, |
C23124159 |
|
10 |
10517271 |
08/08/2014 |
3,000,000,000.00 |
BANK OF INDIA |
SUSHILP, 1290,
SHIVAJINAGAR, OPPOSITE HOTEL SWAN INN, |
C18690743 |
* Date
of charge modification
CONTINGENT LIABILITY:
|
Particular |
31.12.2014 (18 Months) |
30.06.2013 (18 Months) |
|
a)Letters of Guarantees |
NA |
39317.010 |
|
b)Letters of Credit opened including standby letters of credit |
NA |
61216.920 |
|
d)Customs Duty demands under dispute [Amount paid under protest Rs.3.410 Million (Previous period Rs.0.07 Million)] |
NA |
502.460 |
|
e)Income Tax demands under dispute |
NA |
3149.410 |
|
f)Excise Duty and Service Tax demand under dispute [Amount paid under protest Rs.30.860 Million (Previous period Rs.4.21 Million)] |
NA |
1034.950 |
|
g)Sales Tax demands under dispute [Amount paid under protest Rs.377.090 Million (Previous period Rs.360.080 Million) |
NA |
1131.510 |
|
h)Others Amount paid under protest Rs.50.00 Million (Previous period Rs.50.00 Million) |
NA |
2153.300 |
FIXED ASSETS:
·
·
·
Building
·
Leasehold
Improvements
·
Plant and
Machinery
·
Furnace
·
Electrical
Installation
·
Office
Equipments
·
Computer
System
·
Furniture and
Fixture
·
Vehicles
·
Computer
System
·
Goodwill
·
Computer
Software
WEBSITE DETAILS
VIDEOCON-BPCL
CONSORTIUM DISCOVERS OIL OFF BRAZILIAN COAST
April 20, 2015
Shares of Videocon Industries and BPCL clocked gains in a falling market on Monday as they announced the appraisal of their third well off the Brazilian coast.
Petrobas, the block operator, completed the formation test (assessing the potential of a petroleum deposit) of well three in the ultra-deep waters of the Sergipe-Alagoas basin. The results of the formation test confirmed the presence of light oil (37° API) and good productivity of the reservoirs.
The exchange filings made by Videocon and BPCL separately said the drilling identified two reservoir intervals of light oil and gas – the top with a thickness of 44 m and the bottom 11 m thick, the bottom zone being a new discovery for the area. The well is located 102.7 km from the city of Aracaju (SE) and 10.3 km from the first discovery well “Farfan”, in a water depth of 2,467 meters.
Petrobras holds 60 per cent participating interest in the concession and IBV Brasil (a Brazilian joint venture equally held by Videocon Energy Brazil Ltd, a wholly owned overseas subsidiary of Videocon, and BPRL Ventures N.V., a wholly owned subsidiary of Bharat Petroleum Corporation Ltd) holds the remaining 40 per cent.
The consortium partners will continue implementation of the discovery assessment plan as approved by the Brazilian regulatory authority, Agencia Nacional Do Petroleo, Gas Natural e Biocombustiveis (ANP).
In the filing, Pradeep N Dhoot, Director, Global E&P Business, Videocon Hydrocarbon Holdings Ltd, said: “The formation tests of the new hydrocarbon accumulations at multiple plays will further add to the hydrocarbon resources already indicated in the said blocks.”
Shares of BPCL gained 0.77 per cent to close at Rs. 803.90 while Videocon rose 0.16 per cent to end the session at Rs. 158.20.
VIDEOCON EYES
DOUBLING OF AC MARKET SHARE
The AC market grew by about 15 percent last year across India and the size of the market is expected to go up from 3.500 Million ACs sold last year to 4.000 Million ACs.
Home appliances maker Videocon on Tuesday said it is looking to more than double its market share to 12 percent in the AC segment by the end of 2015.
"We are looking at increasing our AC sales by 2.5 times and expanding our distribution penetration accordingly," Sanjeev Bakshi, country head-AC at Videocon, told reporters. "We are doubling our selling points to 9,500 by end of the fiscal from 4,500 presently," he added.
The company, which launched a new range of ACs on Tuesday, is also setting up a new manufacturing facility in Madurai, Tamil Nadu, which is the second largest market for them after Maharashtra.
"The Madurai facility will be operational by the end of 2015," Bakshi said , adding besides ACs the facility will also manufacture televisions, refrigerators, and mobile phones going forward.
"We will be increasing our total production capacity to six lakh ACs this fiscal," he said The production capacity at Aurangabad in Maharashtra will be doubled to four lakh AC units from 2.5 lakh AC units and Madurai will have a production of two lakh ACs, he added.
"We have 65 new AC models from 36 last year. All this will help us realise our target," he said. When asked about e-retailing of ACs, Bakshi said the company does not have any partnerships as of now.
"Videocon will continue to rely on traditional sales channels primarily," he said. "ACs are very logistic intensive and this is the largest challenge in last mile delivery," he added.
The AC market grew by about 15 percent last year across India and the size of the market is expected to go up from 3.5 Million ACs sold last year to 4.0 Million ACs, Bakshi said.
Voltas is currently the market leader, with about 16 percent of the market share, followed by LG, Samsung and Videocon.
Videocon Ind stock
price
On May 29, 2015, Videocon Industries closed at Rs 148.30, up Rs 1.00, or 0.68 percent. The 52-week high of the share was Rs 211.05 and the 52-week low was Rs 143.00.
The company's trailing 12-month (TTM) EPS was at Rs 1.21 per share as per the quarter ended March 2015. The stock's price-to-earnings (P/E) ratio was 122.56. The latest book value of the company is Rs 302.62 per share. At current value, the price-to-book value of the company is 0.49.
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.63.78 |
|
|
1 |
Rs.97.79 |
|
Euro |
1 |
Rs.68.91 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
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 |
7 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
51 |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment record
(10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
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.