MIRA INFORM REPORT
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Report No. : |
347603 |
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Report Date : |
31.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
VICO FORGE PRIVATE LIMITED |
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|
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Registered
Office : |
Plot No 749, 40, Shed Area, GIDC Vapi, District Valsad –
396195, Gujarat |
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Mobile No.: |
91-9712922976 (Mr. Ravi Panchal) |
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|
|
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Country : |
India |
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|
|
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Financials (as
on) : |
31.03.2014 |
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|
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Date of
Incorporation : |
01.04.1986 |
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|
|
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Com. Reg. No.: |
04-008588 |
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|
|
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Capital
Investment / Paid-up Capital : |
Rs.4.520 Million |
|
|
|
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CIN No.: [Company Identification
No.] |
U28910GJ1986PTC008588 |
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|
|
|
IEC No.: |
Not Available |
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TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The subject is engaged in the business of manufacturer of closed die
steel forging. |
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|
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|
No. of Employees
: |
Information declined by the management
|
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject was established in the year 1986 and it is engaged in the
manufacturing business of closed die steel forgings. For the financial year ended 2014, company has reported 20.61% sales
turnover growth as compared to previous sales turnover and it has maintained
above average profitability margins at 1.07% during the year under a review. Rating also takes into consideration company’s above average financial
profile marked by its modest networth base along with moderate liquidity position
and debt protection indicators. Trade relations are reported as fair. Payment terms are reported to be
slow but correct. In view of aforesaid, the company can be considered for business
dealings at usual trade terms and condition.
|
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating (Suspended) = B- |
|
Rating Explanation |
Risk-prone-credit-quality and carries very high credit risk. |
|
Date |
12.12.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating (Suspended) = A4 |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
12.12.2014 |
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
31-03-2015.
INFORMATION DENIED BY
|
Name : |
Mr. Ravi Panchal |
|
Designation : |
Director |
|
Contact No.: |
91-9712922976 |
|
Date : |
29.10.2015 |
LOCATIONS
|
Registered Office: |
Plot No 749, 40, Shed Area, GIDC Vapi, District Valsad –
396195, Gujarat, India |
|
Tel. No.: |
91-260-2430378 / 2421913 / 2400112 |
|
Mobile No.: |
91-9712922976 (Mr. Ravi Panchal) |
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Fax No.: |
91-260-2432591 |
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E-Mail : |
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Website : |
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Location: |
Owned |
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Locality: |
Industrial |
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Factory: |
Plot No.748/2-749, 40 Shed Area, GIDC, Vapi – 396 195, District Valsad,
Gujarat, India |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Amrutlal Dalchharam Panchal |
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Designation : |
Director |
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Address : |
Gokuldham, Mahalaxminagar Daman Road, Chala, Vapi - 396191, Gujarat, India |
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Date of Birth/Age : |
12.12.1949 |
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Date of Appointment : |
06.10.1986 |
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DIN No.: |
00133824 |
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Other
Directorship:
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Name : |
Mr. Babulal Shivram Panchal |
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Designation : |
Director |
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Address : |
Gokuldham, Mahalaxminagar Daman Road, Chala, Vapi - 396191, Gujarat, India |
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Date of Birth/Age : |
01.06.1954 |
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Date of Appointment : |
06.10.1986 |
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DIN No.: |
01290875 |
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Other
Directorship:
|
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MAJOR SHAREHOLDERS
AS ON 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Amrutlal D. Panchal |
|
21473 |
|
Babulal S. Panchal |
|
21473 |
|
Riko Forge Private Limited, India |
|
2250 |
|
Ugrabhai Patel |
|
1 |
|
Maniben U Patel |
|
1 |
|
Total |
|
45198 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2014
|
Category |
Percentage |
|
Bodies corporate |
4.98 |
|
Directors or relatives of Directors |
95.02 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The subject is engaged in the business of manufacturer of closed die
steel forging. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
· Amul Industries Private Limited - Rajkot · Dana India Private Limited - Pune · Fortune Engineering (Nasik) Private Limited - Nasik · International Auto Limited - Pune · Mahindra & Mahindra Limited - Nagpur (Implements Division) · Mahindra & Mahindra Limited - Mumbai (Tractor Division) · Shrinivas Engineering Works - Pune · Suhas Enterprises - Pune · Sumati Engg. Company Private Limited - Rudrapur · Tata Motors Limited - Pune · Windals Precision Private Limited - Mumbai · Windals Precision Private Limited – Nagpur
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No. of Employees : |
Information declined by the management
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Bankers : |
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Facilities : |
(Rs.
In Million)
|
|
Financial
Institute : |
Reliance Capital Limited, "H" Block 1st Floor, Dhirubhai Ambani Knowledge City, Koparkhairne, Navi Mumbai - 400710, Maharashtra, India |
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Auditors : |
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|
Name : |
Kakaria and Associates Chartered Accountants |
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Address : |
Royal Fortune Complex, Daman Road, Chala, Vapi – 396191, Gujarat,
India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAHFK2571P |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Related Parties: |
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CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
95000 |
Equity Shares |
Rs.100/- each |
Rs.9.500 Million |
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|
|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
45198 |
Equity Shares |
Rs.100/- each |
Rs.4.520
Million |
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|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
4.520 |
4.520 |
4.520 |
|
(b) Reserves &
Surplus |
57.067 |
63.721 |
63.336 |
|
(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) |
61.587 |
68.241 |
67.856 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
15.572 |
23.144 |
38.898 |
|
(b) Deferred tax
liabilities (Net) |
5.253 |
5.420 |
5.161 |
|
(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) |
20.825 |
28.564 |
44.059 |
|
|
|
|
|
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
89.557 |
62.446 |
69.902 |
|
(b) Trade payables |
73.686 |
66.965 |
53.923 |
|
(c) Other current
liabilities |
17.828 |
23.629 |
18.920 |
|
(d) Short-term provisions |
12.392 |
0.750 |
6.035 |
|
Total Current Liabilities
(4) |
193.463 |
153.790 |
148.780 |
|
|
|
|
|
|
TOTAL |
275.875 |
250.595 |
260.695 |
|
|
|
|
|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
67.828 |
72.506 |
70.630 |
|
(ii) Intangible Assets |
0.375 |
0.375 |
1.486 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
1.002 |
1.002 |
1.002 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current
assets |
4.890 |
4.890 |
4.890 |
|
Total Non-Current Assets |
74.095 |
78.773 |
78.008 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
56.308 |
45.961 |
43.598 |
|
(c) Trade receivables |
106.446 |
83.886 |
94.809 |
|
(d) Cash and cash
equivalents |
23.024 |
33.708 |
28.447 |
|
(e) Short-term loans and
advances |
14.015 |
7.094 |
12.117 |
|
(f) Other current assets |
1.987 |
1.173 |
3.716 |
|
Total Current Assets |
201.780 |
171.822 |
182.687 |
|
|
|
|
|
|
TOTAL |
275.875 |
250.595 |
260.695 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
|
TOTAL INCOME |
380.418 |
315.389 |
320.419 |
|
|
|
|
|
|
|
Less |
TOTAL EXPENSES |
367.936 |
307.644 |
297.961 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
12.482 |
7.745 |
22.458 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
7.355 |
6.951 |
6.510 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
5.127 |
0.794 |
15.948 |
|
|
|
|
|
|
|
Less |
TAX |
1.042 |
0.361 |
7.740 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX |
4.085 |
0.433 |
8.208 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
39.266 |
38.832 |
0.000 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General
Reserve |
0.000 |
0.000 |
0.775 |
|
|
Dividend |
9.047 |
0.000 |
0.904 |
|
|
Tax on Dividend |
1.645 |
0.000 |
0.143 |
|
|
Balance Carried to the
B/S |
32.659 |
39.265 |
8.208 |
|
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|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
0.000 |
2.815 |
0.000 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
90.38 |
9.60 |
221.93 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
14.690 |
18.759 |
12.488 |
|
Cash generated from operations |
(15.500) |
40.549 |
NA |
|
Net cash flows from operations |
(16.262) |
36.186 |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Total Income) |
(%) |
1.07 |
0.14 |
2.56 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.87 |
0.32 |
6.24 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08 |
0.01 |
0.24 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.95 |
1.53 |
1.79 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.04 |
1.12 |
1.23 |
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 |
4.520 |
4.520 |
4.520 |
|
Reserves & Surplus |
63.336 |
63.721 |
57.067 |
|
Net worth |
67.856 |
68.241 |
61.587 |
|
|
|
|
|
|
long-term borrowings |
38.898 |
23.144 |
15.572 |
|
Short term borrowings |
69.902 |
62.446 |
89.557 |
|
Current maturities of
long-term debts |
12.488 |
18.759 |
14.690 |
|
Total borrowings |
121.288 |
104.349 |
119.819 |
|
Debt/Equity ratio |
1.787 |
1.529 |
1.946 |
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 |
320.419 |
315.389 |
380.418 |
|
|
|
(1.570) |
20.619 |
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 |
320.419 |
315.389 |
380.418 |
|
Profit |
8.208 |
0.433 |
4.085 |
|
|
2.56% |
0.14% |
1.07% |
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 |
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 |
Yes |
|
19 |
Major customers |
Yes |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
CORPORATE
INFORMATION
The Company is
engaged in the business of manufacture of closed die steel forging and is
carrying on its business from the principle place of business at Vapi.
OPERATIONS:
The company has achieved total production of 1958758 Nos of forging
units and consumes 4194680 MTS of Alloys steel as compared to 1494206 Nos of
forging units and consumption of 3691.738 MTS of Alloys steel previous year.
Company’s sales turnover has been increased to Rs.377.575 Million from
Rs.31.275 Million. This year the company has made net of Rs.4.852 Million after
considering provision for income tax of Rs.1.209 Million deferred income tax
liability of Rs.0.167 Million as compared to net profit Rs.0.360 Million after
considering provision for income tax of Rs.0.102 Million deferred income tax
liability of Rs.0.258 Million.
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWING |
|
|
|
HDFC Bank Limited |
0.000 |
0.463 |
|
Kotak Mahindra Bank Limited |
0.333 |
1.584 |
|
Kotak Mahindra Bank Limited |
3.803 |
0.000 |
|
Less: Short term
maturity of long term debt |
2.453 |
1.709 |
|
Bajaj Fine Serve |
0.000 |
0.260 |
|
Bajaj Fine Serve -
II |
0.994 |
2.045 |
|
Reliance Finevest
Limited - I |
0.000 |
0.373 |
|
Tata Capital Limited
|
0.219 |
0.977 |
|
Kotak Mahindra
Premie Limited |
0.161 |
0.626 |
|
Religare Finevest
Limited - II |
0.821 |
1.874 |
|
Less: Short term
maturity of long term debt |
2.060 |
3.973 |
|
SHORT TERM
BORROWING |
|
|
|
From other
parties |
6.500 |
3.736 |
|
Total |
8.319 |
6.256 |
INDEX
OF CHARGES
|
S.NO. |
CHARGE
ID |
DATE
OF CHARGE CREATION/MODIFICATION |
CHARGE
AMOUNT SECURED |
CHARGE
HOLDER |
ADDRESS |
SERVICE
REQUEST NUMBER (SRN) |
|
1 |
10484733 |
24/09/2012 |
2,724,000.00 |
RELIANCE
CAPITAL LTD |
"H"
BLOCK 1ST FLOOR, DHIRUBHAI AMBANI KNOWLEDGE C |
B79626560 |
|
2 |
10331289 |
06/02/2013
* |
55,000,000.00 |
UNION
BANK OF INDIA |
PRINCESS
STREET BRANCH,, DEVKARAN MANSION, SHAMAL |
B69040863 |
|
3 |
10329577 |
18/07/2013
* |
10,000,000.00 |
UNION
BANK OF INDIA |
PRINCESS
STREET BRANCH,, DEVKARAN MANSION, SHAMAL |
B81586687 |
|
4 |
10329584 |
18/07/2013
* |
50,000,000.00 |
UNION
BANK OF INDIA |
PRINCESS
STREET BRANCH,, DEVKARAN MANSION, SHAMAL |
B81587180 |
|
5 |
10329582 |
18/07/2013
* |
40,000,000.00 |
UNION
BANK OF INDIA |
PRINCESS
STREET BRANCH,, DEVKARAN MANSION, SHAMAL |
B81809501 |
|
6 |
10268803 |
05/01/2012
* |
129,250,000.00 |
THE
SHAMRAO VITHAL CO-OPERATIVE BANK LIMITED |
BAL
VATSALAYA BUILDING,, KASTURBA CROSS ROAD NO 1, BORIVALI (E), MUMBAI,
MAHARASHTRA - 400066, INDIA |
B30620603 |
|
7 |
10260807 |
15/01/2011 |
99,250,000.00 |
SHAMRAO VITHAL CO-OPERATIVE BANK LIMITED |
SVC TOWER, NEHRU ROAD,VAKOLA, SANTACRUZ (EAST), MUMBAI, MAHARASHTRA - 400055, INDIA |
B03570082 |
* Date of charge modification
CONTINGENT
LIABILITIES:
(Rs. in million)
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
|
Guarantees |
|
|
|
Irrecoverable and unconditional Bank guarantee
given by shamrao Vitthal Co-Operative Bank Limited |
2.524 |
2.377 |
|
Corporate Guarantee given to shriram City
Union finance Limited, on behalf of M/s Riko Forge Private Limited in which
both the directors have 100% shareholding.
|
19.770 |
21.521 |
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, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions between
a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.48 |
|
UK Pound |
1 |
Rs.101.06 |
|
Euro |
1 |
Rs.72.22 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUV |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
GEET |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
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 |
|
42 |
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.