MIRA INFORM REPORT
|
Report No. : |
347813 |
|
Report Date : |
02.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
NETAFIM IRRIGATION INDIA PRIVATE LIMITED (w.e.f. 14.07.1998) |
|
|
|
|
Formerly Known
As : |
EXCEL DRIP AND AGRISERVICES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. 268-270, 271/B, GIDC, Manjusar, Savli, Vadodara-391775,
Gujarat |
|
Tel. No.: |
91-2667-264601/2/3/4 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
25.09.1997 |
|
|
|
|
Com. Reg. No.: |
04-050144 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.83.098 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U01100GJ1997PTC050144 |
|
|
|
|
IEC No.: |
0397080999 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACE4738J |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the business of manufacturing, supply and installation of drip irrigation system. |
|
|
|
|
No. of Employees
: |
1000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of “Netafim Limited, Israel”. Incorporated in
the year 1997. For the year 2014, the company has good revenue profile marked by
satisfactory profit margin which has increased significantly as compared to
last year. Rating also takes into consideration, company’s financial risk profile
marked healthy capital structure. Trade relations reported as fair. Business is active. Payments terms
are regular and as per commitment. In view of strong operational, technical and financial support from
its parent company and established market position, the subject 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating : A |
|
Rating Explanation |
Adequate degree of safety and low credit risk. |
|
Date |
15.10.2015 |
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
31-03-2015.
INFORMATION PARTED BY
|
Name : |
Mr. Deepak Dadlani |
|
Designation : |
Treasury Department |
|
Contact No.: |
91-2667-264603 |
|
Date : |
30.10.2015 |
LOCATIONS
|
Registered Office/ Head office / Factory 1: |
Plot No. 268-270, 271/B, GIDC, Manjusar, Savli, Vadodara-391775,
Gujarat, India |
|
Tel. No.: |
91-2667-264601/2/3/4 |
|
Fax No.: |
91-2667-264600 |
|
E-Mail : |
tauseef.shaikh@netafim-india.com
|
|
Website : |
|
|
|
|
|
Factory 2 : |
P 38/1, Central Avenue, Domestic Tariff Area, Mahindra World City, Natham
(Sub. P.O.) Chengalpet (T.K.), Kancheepuram (D.T.), Chennai-603002,
Tamilnadu, India |
|
Tel No.: |
91-44-27460128 |
|
Fax No.: |
91-44-27460217 |
|
|
|
|
Regional Office : |
Located At:
|
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Randhirsinh Abasinh Chauhan |
|
Designation : |
Managing Director |
|
Address : |
Flat No. 12, Second Floor, Vaikunth Society, Behind Reliance Petrol
Pump, Gatari Road, Vadodara-390021, Gujarat, India |
|
Date of Birth/Age : |
17.11.1970 |
|
Date of Appointment : |
30.10.2006 |
|
PAN No.: |
ABLPC0105E |
|
Din No.: |
00987092 |
|
|
|
|
Name : |
Mr. Ran Maidan |
|
Designation : |
Additional director |
|
Address : |
40, Shoham Margalit, Plot No
23, Israel, NA, Israel |
|
Date of Appointment : |
12.02.2015 |
|
Din No.: |
06418691 |
|
|
|
|
Name : |
Mr. Setumadhav Rangarao Potdar |
|
Designation : |
Director |
|
Address : |
Plot No. D, Flat 8, Wing D, Ram Kutir, Bangur Nagar, Near Link Road, Goregaon
(West), Mumbai-400062, Maharashtra, India |
|
Date of Birth/Age : |
01.05.1953 |
|
Date of Appointment : |
01.03.2007 |
|
Din No.: |
00228617 |
KEY EXECUTIVES
|
Name : |
Mr. Tauseef Nuruddin Shaikh |
|
Designation : |
Secretary |
|
Address : |
3/305, Ganesh Krupa Building, A Wing, Near Canara Bank, Mumbai-400612,
Maharashtra, India |
|
Date of Birth/Age : |
21.12.1984 |
|
Date of Appointment : |
03.09.2012 |
|
Pan No.: |
BOLPS7887H |
|
|
|
|
Name : |
Mr. Mahesh Kalmane |
|
Designation : |
Chief financial officer |
|
|
|
|
Name : |
Mr. Deepak Dadlani |
|
Designation : |
Treasury Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
|
Netafim Limited, Israel |
8309824 |
|
Fischer Behar Chen and Company, Israel |
1 |
|
|
|
|
Total |
8309825 |
As on 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of manufacturing, supply and installation of drip irrigation system. |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
Brand Names : |
Not Available |
||||
|
|
|
||||
|
Agencies Held : |
Not Available |
||||
|
|
|
||||
|
Exports : |
Not Available |
||||
|
|
|
||||
|
Imports : |
|
||||
|
Products : |
Raw Materials |
||||
|
Countries : |
|
||||
|
|
|
||||
|
Terms : |
|
||||
|
Selling : |
Cash, L/C, Cheque |
||||
|
|
|
||||
|
Purchasing : |
Cash, L/C, Cheque |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Customers : |
Wholesaler and Retailers
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
No. of Employees : |
1000 (Approximately) |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
Lovelock and Lewes Chartered Accountants |
|
Address : |
252 Veer
Savarkar Marg, Next to Mayor's Bungalow, Shivaji Park, Dadar, Mumbai -
400028, Maharashtra, India |
|
PAN
No. : |
AABFL5878L |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding Company : |
|
|
|
|
|
Fellow Subsidiaries : |
CIN No.: U67190MH2011PTC220385
|
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9000000 |
Equity Shares |
Rs.10/- each |
Rs.90.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8309825 |
Equity Shares |
Rs.10/- each |
Rs.83.098 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 |
83.100 |
83.100 |
83.098 |
|
(b) Reserves & Surplus |
1225.950 |
1152.340 |
1151.226 |
|
(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) |
1309.050 |
1235.440 |
1234.324 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
5.210 |
11.480 |
38.116 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
4.750 |
4.930 |
8.631 |
|
(d) long-term provisions |
54.010 |
50.050 |
46.322 |
|
Total
Non-current Liabilities (3) |
63.970 |
66.460 |
93.069 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
702.390 |
489.340 |
403.225 |
|
(b) Trade payables |
2598.480 |
2554.810 |
2138.655 |
|
(c) Other current liabilities |
433.490 |
628.560 |
472.218 |
|
(d) Short-term provisions |
10.880 |
10.510 |
5.970 |
|
Total
Current Liabilities (4) |
3745.240 |
3683.220 |
3020.068 |
|
|
|
|
|
|
TOTAL |
5118.260 |
4985.120 |
4347.461 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
732.900 |
760.500 |
488.870 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
13.580 |
0.650 |
242.140 |
|
(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) |
25.020 |
18.940 |
19.260 |
|
(d) Long-term Loan and Advances |
171.260 |
180.870 |
149.901 |
|
(e) Other Non-current assets |
168.090 |
79.500 |
34.745 |
|
Total
Non-Current Assets |
1110.850 |
1040.460 |
934.916 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
1419.370 |
1416.470 |
1353.851 |
|
(c) Trade receivables |
2264.350 |
2239.280 |
1705.279 |
|
(d) Cash and cash equivalents |
114.030 |
152.040 |
200.527 |
|
(e) Short-term loans and
advances |
208.560 |
132.770 |
144.524 |
|
(f) Other current assets |
1.100 |
4.100 |
8.364 |
|
Total
Current Assets |
4007.410 |
3944.660 |
3412.545 |
|
|
|
|
|
|
TOTAL |
5118.260 |
4985.120 |
4347.461 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
|
|
|
|
|
Other Income |
|
|
|
|
|
TOTAL
|
7588.910 |
6860.100 |
5567.620 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
TOTAL
|
7143.560 |
6481.460 |
5037.000 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
445.350 |
378.640 |
530.620 |
|
|
|
|
|
|
|
Less |
INTEREST AND OTHER
FINANCE COST |
227.240 |
255.420 |
185.650 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
218.110 |
123.220 |
344.970 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
108.450 |
109.920 |
88.560 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
109.660 |
13.300 |
256.410 |
|
|
|
|
|
|
|
Less |
TAX |
36.050 |
12.190 |
85.130 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
73.610 |
1.110 |
171.280 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
137.510 |
46.400 |
55.108 |
|
|
TOTAL
EARNINGS |
137.510 |
46.400 |
55.108 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials, Components and
Stores parts |
1526.840 |
1659.450 |
1632.617 |
|
|
Capital Goods |
67.270 |
23.940 |
80.986 |
|
|
TOTAL
IMPORTS |
1594.110 |
1683.390 |
1713.603 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
8.85 |
0.13 |
20.61 |
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
7056.000 |
The above information has been parted by Mr. Deepak Dadlani (Treasury
Department)
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
5.920 |
75.494 |
75.377 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operation |
327.850 |
381.990 |
457.390 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
0.97 |
0.02 |
3.08 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
5.87 |
5.52 |
9.53 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.16 |
0.27 |
6.28 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08 |
0.01 |
0.21 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.55 |
0.47 |
0.42 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.07 |
1.07 |
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 |
83.098 |
83.100 |
83.100 |
|
Reserves & Surplus |
1151.226 |
1152.340 |
1225.950 |
|
Net
worth |
1234.324 |
1235.440 |
1309.050 |
|
|
|
|
|
|
long-term borrowings |
38.116 |
11.480 |
5.210 |
|
Short term borrowings |
403.225 |
489.340 |
702.390 |
|
Current maturities of
long-term debts |
75.377 |
75.494 |
5.920 |
|
Total
borrowings |
516.718 |
576.314 |
713.520 |
|
Debt/Equity
ratio |
0.419 |
0.466 |
0.545 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Total Income |
5567.620 |
6860.100 |
7588.910 |
|
|
|
23.214 |
10.624 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Total Income |
5567.620 |
6860.100 |
7588.910 |
|
Profit |
171.280 |
1.110 |
73.610 |
|
|
3.08% |
0.02% |
0.97% |
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 four 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 |
GENERAL OVERVIEW:
The company is a wholly owned subsidiary of Netafim Limited, Israel and is engaged in the business of manufacturing, supply and installation of drip irrigation system.
OPERATIONS:
During the year, the sales and other income of the Company has increased from Rs. 6860.100 million to Rs. 7588.910 million. The Operating Profit i.e. Profit before Interest, Depreciation and Tax has been Rs. 445.350 million as against Rs. 378.640 million of the previous year. The Company has been in spite of negative external factors such as foreign exchange fluctuation and corresponding increase in the input cost, been able to deliver the improvement in net profit of Rs. 73.610 million against Rs. 1.110 million adopting various efficiency measures including cost control.
EXPORTS
During the year the Company has achieved an Export Turnover
of Rs. 153.680 million as compared to Rs. 48.870 million in the previous year.
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
SHORT TERM BORROWINGS |
|
|
|
Working capital loans from bank |
300.000 |
250.000 |
|
|
|
|
|
Total |
300.000 |
250.000 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10342983 |
09/03/2012 |
575,000.00 |
HDFC BANK
LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL WEST, MUMBAI - 400013, Maharashtra,
INDIA |
B35113430 |
|
2 |
10443053 |
20/09/2011 |
461,440.00 |
HDFC BANK LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL WEST, MUMBAI - 400013, Maharashtra,
INDIA |
B30816086 |
|
3 |
10443052 |
20/06/2011 |
692,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSESENAPATI
BAPAT MARG, LOWER PAREL WEST, MUMBAI - 400013, Maharashtra, INDIA |
B27318187 |
|
4 |
90149877 |
08/11/2012 * |
2,396,900,000.00 |
STATE BANK OF
INDIA |
MID CORPORATE GROUP
INDUSTRIAL FINANCE BRANCH, MARBLE ARCH, RACE COURSE CIRCLE, VADODARA -
390007, GUJARAT, INDIA |
B62766977 |
|
5 |
90150701 |
23/04/2012 * |
2,396,900,000.00 |
STATE BANK OF
INDIA |
MID CORPORATE GROUP
INDUSTRIAL FINANCE BRANCH, MARBLE ARCH, RACE COURSE CIRCLE, VADODARA -
390007, GUJARAT, INDIA |
B39953831 |
* Date of charge modification
FIXED ASSETS
- Plant and
Machinery
- Land
- Office
Equipments
- Building
- Furniture and
Fixtures
- Vehicles
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other official
proceeding for making any prohibited payments or other improper payments to
government officials for engaging in prohibited transactions or with designated
parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals have
been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.22 |
|
|
1 |
Rs.99.93 |
|
Euro |
1 |
Rs.71.67 |
INFORMATION DETAILS
|
Information
Gathered by : |
GAY |
|
|
|
|
Analysis Done by
: |
AMR |
|
|
|
|
Report Prepared
by : |
JYTK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
49 |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors and their relative weights (as
indicated through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.