MIRA INFORM REPORT
|
Report No. : |
350538 |
|
Report Date : |
19.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
KOSO INDIA PRIVATE LIMITED (w.e.f. 01.11.2010) |
|
|
|
|
Formerly Known
As : |
KENT INTROL PRIVATE LIMITED |
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|
|
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Registered
Office : |
H-33 and 34, MIDC, Ambad, Nashik - 422010, Maharashtra |
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Tel. No.: |
91-253-2408811 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
03.06.2004 |
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|
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Com. Reg. No.: |
11-146735 |
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Capital
Investment / Paid-up Capital : |
Rs.579.649
Million |
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|
|
|
CIN No.: [Company Identification
No.] |
U31200MH2004PTC146735 |
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|
|
|
IEC No.: |
3104004331 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
NSKK01471B |
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|
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PAN No.: [Permanent Account No.] |
AACCK3621N |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in manufacturing of various Control Valves, Ball
Valves, Actuators and Related Accessories. |
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|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (53) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
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|
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a wholly owned subsidiary of Japan based “Nihon Koso
Company Limited”, Japan. It is an established company incorporated in the year 2004 having good
track record. The company possesses a strong financial profile marked by healthy
networth base along with comfortable liquidity position and favorable gap
between trade payables and trade receivables. Management has also reported a decent sales volume as well as net
profitability during 2014. The company also derives strength from its holding company and its
experienced management. Trade relations are reported as fair. Business is active. Payment
terms are reported as regular and as per commitments. In view of strong holding and sound financial base, the company can be
considered for business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating : A- |
|
Rating Explanation |
Adequate degree of safety and carry low credit risk. |
|
Date |
07.10.2015 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating : A2+ |
|
Rating Explanation |
Strong degree of safety and carry very low credit risk. |
|
Date |
07.10.2015 |
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 DENIED BY
|
Name : |
Ms. Jagruti |
|
Designation : |
H R Department |
|
Contact No.: |
91-253-2408811 |
|
Date : |
17.11.2015 |
LOCATIONS
|
Registered / Head Office Factory : |
H-33 and 34, MIDC, Ambad, Nashik - 422010, Maharashtra, India |
|
Tel. No.: |
91-253-2408811 |
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Fax No.: |
91-253-2384413 |
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E-Mail : |
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|
Website : |
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|
Area : |
8000 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Factory 2: |
Choke & Severe Service Valve Division J-1, MIDC, Ambad, Nashik - 422010, Maharashtra, India |
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|
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Factory 3 : |
Foundry Division 1/80, Telungupalayam Road Pillayappampalayam Post Annur, Coimbatore – 641653, Tamilnadu, India |
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Tel. No.: |
91-4254-263416, 263016 |
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E-Mail : |
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|
|
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Warehouse : |
D-65, Trident Complex, Race Course Circle, Vadodara, Gujarat, India |
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E-Mail : |
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|
Location : |
Rented |
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|
|
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Marketing Office
: |
IV/946-948, V/28-30, Pudussery Central Village, Industrial Development Area, Kanjikode (West), Palakkad-678621, Kerala, India |
|
Tel No.: |
91-491-2564222/2564223/2564111 |
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Email: |
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Valve Manufacturing
Office: |
Located At :
|
DIRECTORS
AS ON 27.09.2014
|
Name : |
Mr. Gaurav Vinod Gupta |
|
Designation : |
Managing Director |
|
Address : |
Sampurna Bunglow, Plot No.5, Gangapur Road, B/H – Patil Nest, Anandwalli, Nashik-422013, Maharashtra, India |
|
Date of Birth/Age : |
12.10.1979 |
|
Date of Appointment : |
03.06.2014 |
|
Din No.: |
00012400 |
|
|
|
|
Name : |
Takashi Ichiji Ikegaya |
|
Designation : |
Director |
|
Address : |
3-29-18, Kamikitazawa, Setagaya-Ku, Tokyo, Japan |
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Date of Birth/Age : |
05.01.1930 |
|
Date of Appointment : |
28.06.2005 |
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Din No.: |
00297426 |
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|
|
|
Name : |
Yuichi Takashi Ikegaya |
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Designation : |
Director |
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Address : |
4-14-2-3502, Sotokanda, Chiyoda-Ku, Tokyo, Japan |
|
Date of Birth/Age : |
31.08.1973 |
|
Date of Appointment : |
28.06.2005 |
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Din No.: |
00296808 |
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|
|
|
Name : |
Etsuko Ikegaya |
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Designation : |
Director |
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Address : |
9-1-1107, Sanbancho, Chiyoda – Ku, Tokyo – 102-0075, Japan |
|
Date of Birth/Age : |
25.11.1936 |
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Date of Appointment : |
20.12.2012 |
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Din No.: |
06422705 |
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|
|
|
Name : |
Miiko Kinoshita |
|
Designation : |
Director |
|
Address : |
Megro-Ku, Jiyugaoka, 3-9-18-305, Tokyo – 152-0035, Japan |
|
Date of Birth/Age : |
12.04.1971 |
|
Date of Appointment : |
20.12.2012 |
|
Din No.: |
06422716 |
KEY EXECUTIVES
|
Name : |
Ms. Jagruti |
|
Designation : |
H R Department |
|
Name : |
Piyush Kumar Choraria |
|
Designation : |
Secretary |
|
Address : |
Flat No.3, Shri Samarth Villa, Plot No.12-13, Sadashiv Nagar, Nashik –
422006, Maharashtra, India |
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Date of Birth/Age : |
23.10.1984 |
|
Date of Appointment : |
27.09.2013 |
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PAN No.: |
AEIPC9955Q |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 27.09.2014
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Nihon Koso Company Limited, |
57949901 |
99.97 |
|
Taqkshi Ikegaya [Nominee of Nihon Koso Company Limited, Japan] |
15000 |
0.03 |
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|
|
|
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TOTAL
|
57964901 |
100.00 |
AS ON 27.09.2014
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in manufacturing of Various Control Valves, Ball Valves,
Actuators and Related Accessories. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
ICICI Bank Limited, A Wing, Shangrila Gardens, Bund Garden Branch, Pune - 411001, Maharashtra, India |
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Facilities : |
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Auditors : |
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Name : |
Deloitte Haskin and Sells Chartered Accountants |
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Address : |
12, |
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Tel. No.: |
91-22-66679000 |
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Fax No.: |
91-22-66679100 |
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PAN No: |
AACFD4815A |
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Holding Company : |
Nihon Koso Company Limited |
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Subsidiary Company
: |
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Fellow subsidiaries
with whom transactions were carried out during the year :- |
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CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
105000000 |
Equity Shares |
Rs.10/- each |
Rs.1050.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
57964901 |
Equity Shares |
Rs.10/- each
|
Rs.579.649
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 |
579.649 |
579.649 |
541.126 |
|
(b) Reserves &
Surplus |
1138.668 |
898.377 |
687.933 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
0.00 |
0.000 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
1718.317 |
1478.026 |
1229.059 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
4.271 |
|
(c) Other long term liabilities |
5.367 |
4.087 |
2.776 |
|
(d) long-term provisions |
14.818 |
22.471 |
16.852 |
|
Total Non-current
Liabilities (3) |
20.185 |
26.558 |
23.899 |
|
|
|
|
|
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
31.969 |
140.625 |
85.616 |
|
(b) Trade payables |
133.462 |
245.487 |
179.742 |
|
(c) Other current
liabilities |
84.926 |
164.311 |
241.937 |
|
(d) Short-term provisions |
366.810 |
128.377 |
69.814 |
|
Total Current Liabilities
(4) |
617.167 |
678.800 |
577.109 |
|
|
|
|
|
|
TOTAL |
2355.669 |
2183.384 |
1830.067 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
666.908 |
663.693 |
654.217 |
|
(ii) Intangible Assets |
6.199 |
11.084 |
6.865 |
|
(iii) Capital
work-in-progress |
16.398 |
27.252 |
6.571 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
2.876 |
|
(b) Non-current
Investments |
0.100 |
0.100 |
0.000 |
|
(c) Deferred tax assets
(net) |
79.014 |
29.783 |
0.000 |
|
(d) Long-term Loan and Advances |
231.010 |
155.464 |
110.223 |
|
(e) Other Non-current
assets |
14.980 |
20.416 |
44.339 |
|
Total Non-Current Assets |
1014.609 |
907.792 |
825.091 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
327.600 |
508.665 |
363.943 |
|
(c) Trade receivables |
627.656 |
536.670 |
318.508 |
|
(d) Cash and cash
equivalents |
351.687 |
207.313 |
301.322 |
|
(e) Short-term loans and
advances |
26.030 |
14.571 |
19.295 |
|
(f) Other current assets |
8.087 |
8.373 |
1.908 |
|
Total Current Assets |
1341.060 |
1275.592 |
1004.976 |
|
|
|
|
|
|
TOTAL |
2355.669 |
2183.384 |
1830.067 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
2295.506 |
1527.122 |
1281.328 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
1654.081 |
1300.664 |
1109.986 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
641.425 |
226.458 |
109.532 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
94.609 |
86.668 |
61.810 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
546.816 |
139.790 |
47.722 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
201.229 |
34.345 |
19.023 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
345.587 |
105.445 |
28.699 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
5.96 |
1.86 |
0.53 |
|
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 operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
478.165 |
(199.254) |
381.678 |
|
Net cash flows from (used in) operating activities |
360.951 |
(213.418) |
357.165 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin |
(%) |
15.05 |
6.90 |
2.24 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
24.19 |
6.57 |
2.62 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.32 |
0.09 |
0.04 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.02 |
0.10 |
0.07 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.17 |
1.88 |
1.74 |
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 |
541.126 |
579.649 |
579.649 |
|
Reserves & Surplus |
687.933 |
898.377 |
1138.668 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
1229.059 |
1478.026 |
1718.317 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
85.616 |
140.625 |
31.969 |
|
Current maturities of
long term debt |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
85.616 |
140.625 |
31.969 |
|
Debt/Equity ratio |
0.070 |
0.095 |
0.019 |
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 |
1281.328 |
1527.122 |
2295.506 |
|
|
|
19.183 |
50.316 |
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 |
1281.328 |
1527.122 |
2295.506 |
|
Profit |
28.699 |
105.445 |
345.587 |
|
|
2.24% |
6.90% |
15.05% |
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 |
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 |
INDEX OF CHARGES:
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10174515 |
05/06/2015 * |
390,000,000.00 |
AXIS BANK LIMITED |
MAZDA TOWERS,
TRIMBAK NAKA, S. NO. 620/9, GPO ROAD, |
C56947112 |
* Date of charge modification
FINANCIAL RESULTS
The company has achieved sales of Rs. 2295.506 Million which is 51% more than the last year. There is increase in profits of the company by over 3 times as compared to last year.
Company is adopting certain financial strategies to bring down the expenses.
GENERAL INFORMATION
ABOUT COMPANY
The Company was incorporated in June 2004 as Kent Introl Private Limited to take over the assets of the control valve division of ABB Limited situated in Nashik. ABB Limited decided to divest its Vetco business in 2004 and the control valve division situated at Nashik was a part of this sale. The sale was funded by a consortium of bankers, J.P Morgan, Candover and 3i. The sale was completed on 12 July, 2004 and the company took over all the assets and liabilities, the management and workforce remained unchanged. As the Company was not a strategic fit with the Vetco business, the company was divested by Vetco to Nihon Koso Company Limited, Japan ("Koso Group"). The company in February 2011 changed its name from Kent Introl Private Limited to Koso India Private Limited.
Koso Groups existing manufacturing facilities in India were incorporated in the year 2001 under the name of Koso Fluid Controls Private Limited (hereinafter referred to as Koso Fluid) and are based in Palakkad, Kerala and Coimbatore, Tamilnadu. The Palakkad plant was set up as a control valve manufacturing facility whereas the Coimbatore plant was set up as a casting manufacturing facility (casting is the major raw material in manufacturing of control valves).
In order to create synergies, Koso India and Koso Fluid was amalgamated under the name of Koso India vide order passed in the Mumbai High Court on 19 October 2012 and Kerala High Court on 30 October 2012 ratifying the amalgamation scheme. The Appointed Date of the amalgamation was 1 April 2011. Koso India Private Limited is in the business of manufacture and supply of control valves and actuators. Koso Group is a control valve manufacturing group with manufacturing locations in Japan, UK, US, Korea, China and India.
Koso India developed chokes and severe service valves for the Oil and Gas and power sector in association with oso Kentintrol Limited UK and Nihon Koso Company, Limited Japan respectively. Consequently the company undertook an expansion at its Nashik plant and further invested in land for future expansion.
AMALGAMATIONS
The Scheme of Arrangement ('the scheme') under Section 391 to 394 of the Companies Act, 1956, by and among Koso India Private Limited (the Company, Transferee Company), Koso Fluid Controls Private Limited (the Transferor Company) and their respective shareholders and creditors, had been approved by the Hon'ble High Courts of Mumbai and Kerala vide their orders dated 19 October, 2012 and 30 October, 2012 respectively, with 19 November, 2012, as the effective date and 1 April, 2011 as the appointed date. In terms of the scheme, the Company during the FY 2011-12, issued and allotted 41,317,758 fully paid Equity shares of face value Rs. 10 each (Including 4,250,000 fully paid Equity shares in respect of additional proceeds received by transferor Company amounting to Rs. 85.000 during the year) of the Company, in the ratio of 2:1 to Nihon Koso Company Limited and its nominees, the erstwhile shareholder of Koso Fluid Controls Private Limited, as of the aforesaid Effective Date of the Scheme.
FIXED ASSETS:
- Leasehold Land
- Building
- Plant and Machinery
- Dies and Moulds
- Office Equipments
- Data Processing Equipments
- 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.66.11 |
|
|
1 |
Rs.100.51 |
|
Euro |
1 |
Rs.70.39 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
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 |
6 |
|
--PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--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 |
|
53 |
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.