MIRA INFORM REPORT
|
Report No. : |
351619 |
|
Report Date : |
25.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
MTC BUSINESS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
401, 4th Floor, Navkar Commercial Complex, Sir M.V Road,
Andheri (East), Mumbai – 400069, Maharashtra |
|
Mobile No.: |
91-9167774111 (Mr. Naman Jain) |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
21.12.2000 |
|
|
|
|
Com. Reg. No.: |
11-130172 |
|
|
|
|
Paid-up Capital
: |
Rs. 95.040
Million |
|
|
|
|
CIN No.: [Company
Identification No.] |
U51420MH2000PTC130172 |
|
|
|
|
IEC No.: |
0301062242 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMM14831F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCM4795M |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader and
Importer of Metal Scrap. |
|
|
|
|
No. of Employees
: |
Information declined by the management
|
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 |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
MTC Business Private Limited (MTCBPL), incorporated in year 2000 by .Mr. Maganlal Mehta, is the flagship company of the MTC Group and is engaged in trading of ferrous & non-ferrous metal and scrap. The ratings reflect company's established market position in the metals trading business, marked by healthy customer and supplier relationships, and comfortable financial risk profile of the company marked by healthy cash accruals, moderate gearing and moderate coverage indicators. The ratings, however, are constrained by the intense competition in the trading business, cyclicality inherent in metal industry and susceptibility of revenues and margins to volatility in steel prices and foreign exchange fluctuations risk. Trade relations are fair. Business is active. Payment terms are reported as usually correct. In view of experience of the promoters, 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 facilities BBB+ |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
January 08, 2015 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term
rating facilities A2 |
|
Rating Explanation |
Strong degree of safety and low credit
risk |
|
Date |
January 08, 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 DECLINED BY
|
Name : |
Mr. Kalpesh Mehta |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-22-67872900 |
LOCATIONS
|
Registered Office : |
401, 4th Floor, Navkar Commercial Complex, Sir M.V Road, Andheri
(East), Mumbai – 400069, Maharashtra, India |
|
Tel. No.: |
91-22-67872900 |
|
Mobile No.: |
91-9167774111 (Mr. Naman Jain) |
|
Fax No.: |
91-22-67410875/ 67250964 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Warehouse: |
Plot No.44 to 47,
Jawahar Co-Operative Industrial Estate, Village Kamothe, Kalamboli, District,
Raigad, Maharashtra, India |
|
Tel No.: |
91-22-27420912/27423755 |
|
Fax No.: |
91-22-27423855 |
|
Email : |
|
|
|
|
|
Branch Office 1 : |
Plot No. 15,
Opposite Baba Sitaram Weighbridge, Azak Industrial Area, Taluka Dehgam,
District Gandhinagar, Gujarat, India |
|
|
|
|
Branch Office 2 : |
VI A, Calve Chateau Nilgiris Super Market Building, 808 Poonamallee
High Road, Kilpauk, Chennai - 600010, Tamilnadu,
India |
|
|
|
|
Branch Office 3 : |
Khasra No. 33, Kherki Daula Village, Near Manaser Toll, Gurgaon –
122004, Haryana, India |
|
|
|
|
Branch Offices : |
Also Located at · Uttaranchal · Himachal Pradesh |
DIRECTORS
As on 31.03.2015
|
Name : |
Mr. Narendra
Maganlal Mehta |
|
Designation : |
Director |
|
Address : |
602-A, Jayshankar Krupa CHS, Old Nagardas, Road, Andheri
(East), Mumbai - 400069, Maharashtra, India |
|
Date of Birth/Age : |
10.12.1965 |
|
Qualification : |
B. Com |
|
Date of Appointment : |
21.12.2000 |
|
PAN No.: |
AABPM6765B |
|
DIN No.: |
00179992 |
|
|
|
|
Name : |
Mr. Sanjay
Maganlal Mehta |
|
Designation : |
Director |
|
Address : |
A/602, A Wing, Jay
Shankar Krupa Housing Society Limited, Old Nagardas Road, Andheri (East),
Mumbai – 400069, Maharashtra, India |
|
Date of Birth/Age : |
14.05.1968 |
|
Qualification : |
B. Com |
|
Date of Appointment : |
02.04.2001 |
|
PAN No.: |
AACPM6147L |
|
DIN No.: |
00541528 |
|
|
|
|
Name : |
Mr. Lalit Baliya |
|
Designation : |
Director |
|
Address : |
C-302, Gajalaxmi Apartment, Kolsawala Compound, |
|
Date of Birth/Age : |
26.10.1967 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
03.03.2007 |
|
PAN No.: |
AABPB1937A |
|
DIN No.: |
00282727 |
KEY EXECUTIVES
|
Name : |
Mr. Kalpesh Mehta |
|
Designation : |
Finance Manager |
|
|
|
|
Name : |
Pradhumna Didwania |
|
Designation : |
Secretary |
|
Address : |
404/1-A, Tirupati Darshan, Balaji Nagar,, Bhayandar West,
Thane - 401101, Maharashtra, India |
|
Date of Appointment : |
19.05.2015 |
|
PAN No.: |
AABPD5280E |
MAJOR SHAREHOLDERS
As on 16.09.2013
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Maganlal
Mehta |
3202000 |
33.69 |
|
Narendra Mehta |
802000 |
8.44 |
|
Sanjay Mehta |
800000 |
8.42 |
|
Manoj Mehta |
4700000 |
49.45 |
|
TOTAL |
9504000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 16.09.2013
|
Category |
Percentage of
Holding |
|
Directors or relatives of directors |
100.00 |
|
Total
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader and
Importer of Metal Scrap. |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Available |
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Imports : |
Not Divulged |
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||||
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Terms : |
Not Divulged |
GENERAL INFORMATION
|
Suppliers : |
|
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Customers : |
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No. of Employees
: |
Information declined by the management
|
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|
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|
Bankers : |
· ICICI Bank Limited, Land Mark Race Cource Circle, Alkapuri, Baroda - 390015, Gujarat, India · The Cosmos Co-Operative Bank Limited, Vile Parle Branch; 45; Sarawati Niwas, Hanuman Road; Vile Parle (East), Mumbai - 400057, Maharashtra, India · ICICI Bank Limited, Nariman Point, Mumbai, Maharashtra, India |
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Facilities : |
|
|
Auditors : |
|
|
Name : |
A.T. Jain and
Company Chartered
Accountants |
|
Address : |
212, Rewa Chambers,
31 New Marine Lines, Mumbai – 400020, Maharashtra, India |
|
Tel. No.: |
91-22-22035151/
22035252 |
|
Fax No.: |
91-22-22083820 |
|
E-Mail : |
|
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AABFA2587P |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates : |
U99999PN1997PTC109372
U27320KA2004PTC034057
U51502MH2004PTC146683
U50300MH2008PTC183718 |
|
|
|
|
Subsidiary
Company : |
|
CAPITAL STRUCTURE
AS ON: 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9504000 |
Equity Shares |
Rs.10/- each |
Rs.95.040 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 |
95.040 |
95.040 |
95.040 |
|
(b) Reserves & Surplus |
998.676 |
852.778 |
748.193 |
|
(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) |
1093.716 |
947.818 |
843.233 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
110.168 |
227.755 |
255.508 |
|
(b) Deferred tax liabilities
(Net) |
9.617 |
5.161 |
1.043 |
|
(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) |
119.785 |
232.916 |
256.551 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
3349.418 |
2796.691 |
2541.573 |
|
(b) Trade payables |
333.523 |
249.281 |
311.349 |
|
(c) Other current liabilities |
173.562 |
95.730 |
86.108 |
|
(d) Short-term provisions |
11.145 |
3.382 |
1.542 |
|
Total
Current Liabilities (4) |
3867.648 |
3145.084 |
2940.572 |
|
|
|
|
|
|
TOTAL |
5081.149 |
4325.818 |
4040.356 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
303.648 |
242.274 |
58.569 |
|
(ii) Intangible Assets |
0.454 |
0.456 |
0.200 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
160.508 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
89.888 |
48.710 |
48.709 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
79.179 |
62.405 |
57.836 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
473.169 |
353.845 |
325.822 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
7.326 |
7.326 |
21.180 |
|
(b) Inventories |
722.375 |
892.814 |
1347.089 |
|
(c) Trade receivables |
3074.639 |
2108.792 |
1321.811 |
|
(d) Cash and cash equivalents |
498.701 |
576.353 |
522.991 |
|
(e) Short-term loans and
advances |
265.524 |
340.365 |
463.677 |
|
(f) Other current assets |
39.415 |
46.323 |
37.786 |
|
Total
Current Assets |
4607.980 |
3971.973 |
3714.534 |
|
|
|
|
|
|
TOTAL |
5081.149 |
4325.818 |
4040.356 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Total Revenue |
15763.226 |
12010.683 |
11174.495 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
240.272 |
151.039 |
153.839 |
|
|
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
14.329 |
11.252 |
5.616 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
218.903 |
139.787 |
148.223 |
|
|
|
|
|
|
|
|
|
|
TAX |
73.005 |
35.203 |
29.333 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
145.898 |
104.584 |
118.890 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Dividend Income |
15.279 |
13.813 |
12.958 |
|
|
|
F.O.B. value of export |
13.190 |
0.000 |
0.000 |
|
|
TOTAL EARNINGS |
28.469 |
13.813 |
12.958 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
15.35 |
11.00 |
NA |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
15.120 |
0.622 |
1.140 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
(216.101) |
(84.894) |
(795.558) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
0.93 |
0.87 |
1.06 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.39 |
3.27 |
3.87 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20 |
0.15 |
0.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
3.18 |
3.19 |
3.32 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.19 |
1.26 |
1.26 |
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 |
95.040 |
95.040 |
95.040 |
|
Reserves & Surplus |
748.193 |
852.778 |
998.676 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
843.233 |
947.818 |
1093.716 |
|
|
|
|
|
|
long-term borrowings |
255.508 |
227.755 |
110.168 |
|
Short term borrowings |
2541.573 |
2796.691 |
3349.418 |
|
Current maturities of
long-term debts |
1.140 |
0.622 |
15.120 |
|
Total
borrowings |
2798.221 |
3025.068 |
3474.706 |
|
Debt/Equity
ratio |
3.318 |
3.192 |
3.177 |
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 Revenue |
11,174.495 |
12,010.683 |
15,763.226 |
|
|
|
7.483 |
31.243 |
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 Revenue |
11,174.495 |
12,010.683 |
15,763.226 |
|
Profit |
118.890 |
104.584 |
145.898 |
|
|
1.06% |
0.87% |
0.93% |
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) |
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 |
NOTE: Registered office of the company has been
shifted from 301-302, Vertex
Vikas, A Wing, Opposite Railway Station, Andheri (East), Mumbai – 400069,
Maharashtra, India to the present address
w.e.f 04.03.2013.
UNSECURED
LOAN
|
Particular
|
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
LONG-TERM
BORROWINGS |
|
|
|
Differed payment liability |
4.865 |
0.000 |
|
Intercorporate deposits |
30.000 |
70.000 |
|
Loans and advances from directors |
70.899 |
156.462 |
|
SHORT-TERM
BORROWINGS |
|
|
|
Intercorporate deposits |
0.000 |
67.000 |
|
Loans and advances from related parties |
38.795 |
35.367 |
|
Total |
144.559 |
328.829 |
PERFORMANCE REVIEW
During the year the company has achieved total revenue of Rs. 15763.226 Million as compared to Rs. 12010.683 Million in the previous year thereby posting an increase by 31.2%. The company has earned net profit of Rs. 145.898 Million during the year as against profit of Rs. 104.584 Million. The profit of the company was slightly affected due to increase in purchase costs and depreciation amount. However, with vast experience in the industry and their constant efforts, the Directors are confident of achieving higher growth in the coming years.
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10459058 |
25/03/2014 * |
1,000,000,000.00 |
UNION BANK OF INDIA |
UNION BANK OF INDIA,
SIR M.V. ROAD, ANDHERI (EAST |
C02642890 |
|
2 |
80018324 |
25/03/2014 * |
4,710,000,000.00 |
UNION BANK OF INDIA |
UNION BANK OF
INDIA, SIR M.V. ROAD, ANDHERI (EAST |
C02642759 |
|
3 |
90145614 |
27/11/2014 * |
544,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE
CIRCLE, ALKAPURI, BARODA, GUJ |
C35790047 |
|
4 |
90144130 |
25/03/2014 * |
565,000,000.00 |
UNION BANK OF INDIA |
UNION BANK OF
INDIA, SIR M.V. ROAD, ANDHERI (EAST |
C02641496 |
* Date of charge modification
FIXED ASSETS
Tangible Assets
· Land
· Buildings
· Other Building
· Plant and Equipment
· Other plant and Equipment
· Furniture and Fixtures
· Vehicles
· Motor Vehicles
· Office Equipment
· Computer Equipments
· Other Equipments
Intangible Assets
· Computer Software
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. 66.38 |
|
|
1 |
Rs. 100.45 |
|
Euro |
1 |
Rs. 70.55 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
4 |
|
--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.