MIRA INFORM REPORT
|
Report No. : |
348683 |
|
Report Date : |
07.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
MANJEET COTTON PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
318 , N-3, CIDCO, Jalna Road, Near
Punjab National Bank, Aurangabad – 431003, Maharashtra |
|
Tel. No. : |
91-240-2473363 / 2481763 / 2474463 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
21.11.2005 |
|
|
|
|
Com. Reg. No.: |
11–246580 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.23.011 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U00171MH2005PTC246580 |
|
|
|
|
IEC No.: |
01106004141 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BPLM06684G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECM5891Q |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Exporter and Importer of raw cotton, cotton linter, cotton
seed, cotton seed oil, cotton yarn. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2515700 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated in the year 2005 and it is engaged in
production of a wide range of cotton bales. Its products include raw cotton,
cotton linter, cotton seed, cotton seed oil, cotton yarn. For the financial year ended 2014, company has reported 47.97% sales
turnover as compared to previous sales turnover and it has reported below
average profit margins at 0.80% during the year under a review. The ratings continue to reflect the promoter experience in the cotton
industry supported by well-established and diversified client base and
established track record of business operations. Rating also takes into account of company above average financial
profile marked by its sound networth base, modest liquidity position and
moderate debt coverage indicators. Rating strength is partially offset by low value added nature of
business and fragmented and highly competitive nature of industry along with
working capital nature of business operations and inherent to the seasonal
nature of the cotton industry. Trade relations are reported as fair. Payment terms are reported to be
usually 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 |
ICRA |
|
Rating |
Term Loan = BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk |
|
Date |
March, 2015 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short-Term Fund Based = A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
March, 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.
LOCATIONS
|
Registered Office : |
318 , N-3, CIDCO, Jalna Road, Near Punjab National Bank, Aurangabad –
431003, Maharashtra, India |
|
Tel. No. : |
91-240-2473363 / 2481763 / 2474463 |
|
Mobile No.: |
91-9826700466 (Devendra Vanjare) |
|
Fax No. : |
91-240-2473563 / 2486463 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory 1 : |
Gut No. 196, Tehsil Sailu, Parbhani, |
|
Tel. No.: |
91-2451-223063 |
|
Fax No.: |
91-2451-223063 |
|
E-Mail : |
|
|
|
|
|
Factory 2 /
Branch Office 1: |
Gut No. 246, 247, 248, |
|
|
|
|
Branch Office 2
: |
Also Located At:
|
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Bhupendra Singh Rajpal |
|
Designation : |
Director |
|
Address : |
3, Jawahar Ganj, Sendhwa District-Barwani, |
|
Date of Birth/Age : |
05.06.1959 |
|
Qualification : |
B .Com |
|
Experience : |
18 Years |
|
Date of Appointment : |
21.11.2005 |
|
DIN No : |
00311202 |
|
|
|
|
Name : |
Mr. Rajendra Singh Rajpal |
|
Designation : |
Director |
|
Address : |
3, Jawahar Ganj, Sendhwa District-Barwani, |
|
Date of Birth/Age : |
09.07.1961 |
|
Qualification : |
M. Com |
|
Experience : |
16 Years |
|
Date of Appointment : |
21.11.2005 |
|
DIN No : |
00311209 |
|
|
|
|
Name : |
Mr. Sanchit Bhupendra Singh Rajpal |
|
Designation : |
Director |
|
Address : |
Plot No.12-A-13-Nyaymurti Nagar, N-3, CIDCO, Aurangabad - 431003, Maharashtra, India |
|
Date of Birth/Age : |
24.01.1987 |
|
Qualification : |
Post Graduate |
|
Experience : |
8 Years |
|
Date of Appointment : |
01.05.2011 |
|
DIN No : |
00311190 |
|
|
|
|
Name : |
Mr. Rajendra Singh Rajpal |
|
Designation : |
Director |
|
Address : |
Jawahar Ganj, Sendhwa - 451666, Madhya Pradesh, India |
|
Date of Appointment : |
21.11.2005 |
|
DIN No : |
00659793 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
No. of Shares |
|
Rajendra Singh Rajpal |
228625 |
|
Bhupendra Singh Rajpal |
213125 |
|
Sanchit Rajpal |
213000 |
|
Bhupendra Singh Dharamsingh Rajpal (HUF) |
213000 |
|
Rajendra Singh Dharamsingh Rajpal (HUF) |
213000 |
|
Satpal Kaur Rajpal |
213000 |
|
Gurmeet Kaur Rajpal |
213000 |
|
Bhupendra Singh Rajendra Singh Rajpal (HUF) |
182000 |
|
Surya Prakash Agal |
17500 |
|
Rakhi Agal |
17500 |
|
Rajendra Singh Rajpal (Partner Manjeet Fibrh) |
182000 |
|
Rasdeep Singh Chawla HUF |
100000 |
|
KU Parneet Rajpal |
31000 |
|
Manjeet Singh Chawla HUF |
20000 |
|
Manjeet Kaur Rajpal |
117500 |
|
Man Cott Private Limited, India |
126875 |
|
TOTAL
|
2301125 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
93.32 |
|
Other top fifty shareholders |
6.68 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of raw cotton, cotton linter,
cotton seed, cotton seed oil, cotton yarn. |
|
|
|
|
Products : |
|
|
|
|
|
Brand Names : |
Not Available |
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|
|
Agencies Held : |
Not Available |
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|
Exports : |
Not Available |
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|
|
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Imports : |
Not Available |
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|
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|
Terms : |
Not Available |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
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Auditors : |
|
|
Name : |
Prakash Wohra and Company Chartered Accountants |
|
Address : |
210, Royal Gold, 2nd Floor, 4-A, Yeshwant Niwas Road,
Opposite City Centre, Indore-452001, Madhya Pradesh, India |
|
Tel. No.: |
91-731-2533955 / 4225525 |
|
PAN No: |
AACFP7838F |
|
|
|
|
Memberships : |
--- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives : |
|
CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,500,000 |
Equity Shares |
Rs.10/- each |
Rs.25.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,301,125 |
Equity Shares |
Rs.10/- each |
Rs.23.011 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 |
23.011 |
20.586 |
20.586 |
|
(b) Reserves &
Surplus |
857.507 |
635.970 |
552.784 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.250 |
|
Total Shareholders’ Funds
(1) + (2) |
880.518 |
656.556 |
573.620 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
367.734 |
319.951 |
315.662 |
|
(b) Deferred tax
liabilities (Net) |
48.037 |
48.579 |
52.523 |
|
(c) Other long term
liabilities |
37.583 |
31.931 |
0.000 |
|
(d) long-term provisions |
0.045 |
0.050 |
0.000 |
|
Total Non-current
Liabilities (3) |
453.399 |
400.511 |
368.185 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
2215.092 |
1539.949 |
870.995 |
|
(b) Trade payables |
155.859 |
193.606 |
205.785 |
|
(c) Other current
liabilities |
10.907 |
47.435 |
58.889 |
|
(d) Short-term provisions |
163.189 |
83.149 |
84.091 |
|
Total Current Liabilities
(4) |
2545.047 |
1864.139 |
1219.760 |
|
|
|
|
|
|
TOTAL |
3878.964 |
2921.206 |
2161.565 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
479.654 |
378.665 |
295.708 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(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 |
21.086 |
19.520 |
17.520 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
3.231 |
128.843 |
143.093 |
|
(e) Other Non-current
assets |
9.251 |
66.487 |
48.965 |
|
Total Non-Current Assets |
513.222 |
593.515 |
505.286 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
1156.025 |
991.602 |
626.720 |
|
(c) Trade receivables |
1770.317 |
949.250 |
624.341 |
|
(d) Cash and cash
equivalents |
127.775 |
172.931 |
89.475 |
|
(e) Short-term loans and
advances |
311.625 |
213.908 |
315.743 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
3365.742 |
2327.691 |
1656.279 |
|
|
|
|
|
|
TOTAL |
3878.964 |
2921.206 |
2161.565 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
Turnover |
16105.200 |
10881.200 |
8322.100 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
Total Income |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
209.362 |
128.154 |
91.389 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
70.958 |
44.967 |
30.405 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
138.404 |
83.187 |
60.984 |
|
|
|
|
|
|
|
|
|
|
Foreign Exchange
Earnings |
$ 23015983.81 |
$ 2,55,92,331.65 |
$ 48099828.12 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
60.15 |
40.41 |
29.62 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
0.000 |
0.000 |
0.000 |
|
Cash generated from/ (used in) operations |
(535.989) |
(323.817) |
NA |
|
Net cash from/ (used in) Operating Activities |
(605.291) |
(361.071) |
NA |
|
Net cash flows from (used in) operations |
(529.925) |
(278.739) |
176.114 |
|
Net cash flows from (used in) operating activities |
(605.291) |
(361.071) |
90.481 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
0.86 |
0.76 |
0.73 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.43 |
4.42 |
4.26 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.24 |
0.20 |
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.93 |
2.83 |
2.07 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.32 |
1.25 |
1.36 |
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 |
20.586 |
20.586 |
23.011 |
|
Reserves & Surplus |
552.784 |
635.970 |
857.507 |
|
Share Application money
pending allotment |
0.250 |
0.000 |
0.000 |
|
Net worth |
573.620 |
656.556 |
880.518 |
|
|
|
|
|
|
long-term borrowings |
315.662 |
319.951 |
367.734 |
|
Short term borrowings |
870.995 |
1539.949 |
2215.092 |
|
Current Maturities of
Long Term Debt |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
1186.657 |
1859.900 |
2582.826 |
|
Debt/Equity ratio |
2.069 |
2.833 |
2.933 |
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) |
|
Turnover |
8322.100 |
10881.200 |
16105.200 |
|
|
|
30.751 |
48.009 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Turnover |
8322.100 |
10881.200 |
16105.200 |
|
Profit |
60.984 |
83.187 |
138.404 |
|
|
0.73% |
0.76% |
0.86% |
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 |
Yes |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
--- |
|
33 |
Market information |
--- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
OPERATIONS
The Company has made a turnover of Rs.16105.200 Million (including export turnover of Rs.4849.200 Million) during the year as against turnover of Rs.10881.200 Million (including export turnover of Rs. 3449.600 Million) in last year. This growth itself is self explanatory of consistent profitability in all times to come.
FINANCE:
The Company is enjoying credit facilities from Bank of India, Sendhwa and Indore Branch, Andhra Bank and Bank of Baroda, Transport Nagar, Indore (Members of Consotium) and do not for see any problem in this regard.
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Loans and advances from others |
51.484 |
99.195 |
|
Other loans and advances |
196.920 |
137.512 |
|
Total |
248.404 |
236.707 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10557290 |
13/03/2015 |
63,000,000.00 |
BANK OF INDIA |
MID CORPORATE
BRANCH, AIREN HEIGHTS, PLOT NO. 14, |
C47852611 |
|
2 |
10526591 |
04/10/2014 |
71,000,000.00 |
BANK OF INDIA |
MID CORPORATE
BRANCH, AIREN HEIGHTS, PLOT NO. 14, |
C30222509 |
|
3 |
10486081 |
04/03/2014 |
46,000,000.00 |
BANK OF BARODA |
TRANSPORT NAGAR BRANCH, INDORE, MADHYA PRADESH - 452001, INDIA |
C00908665 |
|
4 |
10486128 |
04/03/2014 |
32,000,000.00 |
BANK OF INDIA |
MID CORPORATE
BRANCH, AIREN HEIGHTS, PLOT NO. 14, |
C00922153 |
|
5 |
10416971 |
15/03/2013 |
45,000,000.00 |
ANDHRA BANK |
335,JAWAHAR MARG,
INDORE, MADHYA PRADESH - 452002, |
B72335169 |
|
6 |
10346658 |
15/03/2012 |
36,000,000.00 |
BANK OF INDIA |
GROUND FLOOR, AIREN
HEIGHTS, PLOT NO 14, PU-3,, S |
B36692812 |
|
7 |
10204590 |
13/03/2015 * |
2,920,000,000.00 |
BANK OF INDIA |
MID CORPORATE
BRANCH, AIREN HEIGHTS, PLOT NO. 14, |
C47851571 |
|
8 |
10178713 |
08/05/2013 * |
50,000,000.00 |
BANK OF INDIA |
INDORE MAIN BRANCH, PUNGLIA BHAWAN. SANTHA BAZAR, INDORE, MADHYA PRADESH - 452001, INDIA |
B75111419 |
|
9 |
10065735 |
04/03/2014 * |
81,500,000.00 |
BANK OF INDIA |
MID CORPORATE
BRANCH, AIREN HEIGHTS, PLOT NO. 14, |
C00911123 |
* Date of charge modification
FIXED ASSETS:
- Land
- Buildings
- Plant and
Equipment
- Furniture and
Fixtures
- Vehicles
- Computer
Equipment’s
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.65.79 |
|
|
1 |
Rs.99.95 |
|
Euro |
1 |
Rs.71.55 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
4 |
|
--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 |
|
46 |
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.