MIRA INFORM REPORT
|
Report No. : |
342984 |
|
Report Date : |
01.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
LONGOWALIA YARNS LIMITED (w.e.f. 04.01.2006) |
|
|
|
|
Formerly Known
As : |
AMARSON YARNS |
|
|
|
|
Registered
Office : |
G.T. Road, Doraha, Ludhiana - 141421, Punjab |
|
Tel. No.: |
91-1628-258455 / 259466 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
09.06.1994 |
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|
|
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Com. Reg. No.: |
16-014692 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.84.310 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17115PB1994PLC014692 |
|
|
|
|
IEC No.: |
3095007477 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCA4409R |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
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|
Line of Business
: |
Manufacturing of Yarn |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
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 |
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|
|
|
Comments : |
Subject is an established company incorporated in the year 1994 having
satisfactory track. The company has progressed well during financial year 2014. It has achieved
significant growth in its turnover. General financial position of the company is sound. The rating also takes into consideration favorable gap between trade
payables and trade receivables. However, these rating strengths are partially offset by company’s
moderate leverage levels and susceptibility of its profit margin due to
volatility in raw material prices. Trade relations are reported as fair. Business is active. Payments
terms are reported as usually correct and as per commitment. In view of long track record and acceptable financial base, the
company can be considered normal 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.
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=(BB+) |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
02.04.2015 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2015.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Ms. Ranjana Chugh |
|
Designation : |
Chartered Accountant |
|
Contact No.: |
91-162-8521818 |
|
Date : |
29.09.2015 |
LOCATIONS
|
Registered Office / Factory : |
G.T. Road, Doraha, Ludhiana - 141421, Punjab, India |
|
Tel. No.: |
91-1628-258455 / 259466 |
|
Mobile No.: |
91-8725087102 (Mr. Rajesh Sharma) |
|
Fax No.: |
91-1628-257688 |
|
E-Mail : |
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|
Website : |
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|
|
|
|
Branch Office 1: |
Village Bisanpura, Payal Road, Daraha, Ludhiana – 1414221, Punjab,
India |
|
|
|
|
Branch Office 2: |
Khasra No.80/2/3, Street No.6, Vashist Enclave, Burari, Delhi, India |
|
|
|
|
Head Office : |
43, Mall Enclave, Ludhiana, Punjab, India |
DIRECTORS
As on 28.11.2014
|
Name : |
Mr. Sanjay Garg |
|
Designation : |
Director |
|
Address : |
Kothi No.178, Sector – 6, Panchkula – 134109, Haryana, India |
|
Date of Birth/Age : |
06.02.1972 |
|
PAN No. : |
AAZPG7140C |
|
Date of Appointment : |
05.01.2001 |
|
DIN No.: |
00205161 |
|
|
|
|
Name : |
Mr. Gian Chand Garg |
|
Designation : |
Chairman Cum Managing Director |
|
Address : |
Kothi No.178, Sector – 6, Panchkula – 134109, Haryana, India |
|
Date of Birth/Age : |
28.03.1946 |
|
PAN No. : |
ABAPG8381P |
|
Date of Appointment : |
05.01.2001 |
|
DIN No.: |
00205233 |
|
|
|
|
Name : |
Mrs. Aarti Garg |
|
Designation : |
Whole-Time Director |
|
Address : |
House No. 178, Sector- 6, Panchkula - 134109, Haryana, India |
|
Date of Birth/Age : |
10.05.1972 |
|
PAN No. : |
ADCPG6912G |
|
Date of Appointment : |
30.04.2008 |
|
DIN No.: |
02166856 |
KEY EXECUTIVES
|
Name : |
Mr. Gian Chand Garg |
|
Designation : |
Chairman Cum Managing Director |
|
|
|
|
Name : |
Ms. Ranjana Chugh |
|
Designation : |
Chartered Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.11.2014
Shareholders Details File Attached
As on 28.11.2014
|
Category |
Percentage |
|
Bodies corporate |
24.77 |
|
Directors or relatives of Directors |
75.23 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Yarn |
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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 : |
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Products : |
Finished Goods |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
Cash, L/C and Credit |
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Purchasing : |
Cash, L/C and Credit |
PRODUCTION STATUS (As on 31.03.2014)
|
Particulars |
Unit |
Installed
Capacity |
|
Synthetic Yarn Plant (No. of Spindles) |
Kgs P.D. |
11520 |
|
Cotton Yarn |
Kgs P.D. |
12000 |
|
Particulars |
Actual
Production |
|
Acrylic Yarn |
143018.460 |
|
Cotton Yarn |
3165748.030 |
|
Polyester Blended Yarn |
8477829.000 |
|
PC Yarn |
0.000 |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Wholesalers, Retailers and Manufacturer
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No. of Employees : |
Information declined by the management |
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Bankers : |
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Facilities : |
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Auditors : |
|
|
Name : |
S Kumar Gupta and Associates Chartered Accountants |
|
Address : |
SCO 35, 1st Floor, Madhya Marg, Sector 26, Chandigarh - 160026, Punjab, India |
|
Tel. No.: |
91-172-5009400-01-02 |
|
Fax No.: |
91-172-5009400 |
|
E-Mail : |
|
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AECPG2057F |
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|
|
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Memberships : |
-- |
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|
|
|
Collaborators : |
-- |
|
|
|
|
Associates : |
Deepak Cosmo Limited CIN No.: U92140HP1981PLC027185 |
CAPITAL STRUCTURE
As on 28.11.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs.150.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8430950 |
Equity Shares |
Rs.10/- each |
Rs.84.310
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 |
84.310 |
84.310 |
73.686 |
|
(b) Reserves & Surplus |
648.859 |
617.993 |
324.624 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
84.741 |
|
Total
Shareholders’ Funds (1) + (2) |
733.169 |
702.303 |
483.051 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1191.143 |
984.752 |
471.107 |
|
(b) Deferred tax liabilities
(Net) |
49.737 |
46.225 |
27.265 |
|
(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) |
1240.880 |
1030.977 |
498.372 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
214.743 |
201.235 |
190.616 |
|
(b) Trade payables |
58.722 |
189.170 |
31.029 |
|
(c) Other current liabilities |
30.240 |
28.064 |
7.632 |
|
(d) Short-term provisions |
6.620 |
11.633 |
6.093 |
|
Total
Current Liabilities (4) |
310.325 |
430.102 |
235.370 |
|
|
|
|
|
|
TOTAL |
2284.374 |
2163.382 |
1216.793 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1494.972 |
1086.103 |
318.769 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
12.743 |
96.934 |
211.465 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
45.250 |
146.124 |
77.351 |
|
(e) Other Non-current assets |
12.166 |
33.352 |
33.761 |
|
Total
Non-Current Assets |
1565.131 |
1362.513 |
641.346 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
478.545 |
401.539 |
325.134 |
|
(c) Trade receivables |
154.240 |
295.911 |
122.880 |
|
(d) Cash and cash equivalents |
6.618 |
6.353 |
46.370 |
|
(e) Short-term loans and
advances |
4.055 |
4.801 |
17.850 |
|
(f) Other current assets |
75.785 |
92.265 |
63.213 |
|
Total
Current Assets |
719.243 |
800.869 |
575.447 |
|
|
|
|
|
|
TOTAL |
2284.374 |
2163.382 |
1216.793 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
3022.899 |
2876.483 |
1848.100 |
|
|
Other Income |
17.361 |
83.717 |
33.676 |
|
|
TOTAL
(A) |
3040.260 |
2960.200 |
1881.776 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
2877.894 |
2728.445 |
1754.809 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(163.090) |
(40.624) |
(27.556) |
|
|
Employees benefits expense |
53.885 |
29.710 |
19.405 |
|
|
Other expenses |
27.985 |
68.776 |
26.800 |
|
|
Exceptional Items |
2.488 |
0.000 |
0.000 |
|
|
TOTAL
(B) |
2799.162 |
2786.307 |
1773.458 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
241.098 |
173.893 |
108.318 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
109.241 |
62.002 |
44.466 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
131.857 |
111.891 |
63.852 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
101.258 |
53.745 |
32.609 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
30.599 |
58.146 |
31.243 |
|
|
|
|
|
|
|
Less |
TAX (H) |
10.133 |
30.594 |
8.193 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
20.466 |
27.552 |
23.050 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
167.560 |
815.890 |
338.116 |
|
|
TOTAL
EARNINGS |
167.560 |
815.890 |
338.116 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
210.897 |
68.448 |
95.464 |
|
|
Components and Stores parts |
1.709 |
0.115 |
1.573 |
|
|
Capital Goods |
7.132 |
66.731 |
18.299 |
|
|
TOTAL
IMPORTS |
219.738 |
135.294 |
115.336 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
2.43 |
3.27 |
3.13 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flow from operating activity |
79.180 |
24.512 |
31.243 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
0.68 |
0.96 |
1.25 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
7.98 |
6.05 |
5.86 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.35 |
2.81 |
3.11 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04 |
0.08 |
0.06 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.92 |
1.69 |
1.37 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.32 |
1.86 |
2.44 |
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 |
73.686 |
84.310 |
84.310 |
|
Reserves & Surplus |
324.624 |
617.993 |
648.859 |
|
Share Application money pending allotment |
84.741 |
0.000 |
0.000 |
|
Net
worth |
483.051 |
702.303 |
733.169 |
|
long-term borrowings |
471.107 |
984.752 |
1191.143 |
|
Short term borrowings |
190.616 |
201.235 |
214.743 |
|
Total
borrowings |
661.723 |
1185.987 |
1405.886 |
|
Debt/Equity
ratio |
1.370 |
1.689 |
1.918 |
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) |
|
Sales |
1848.100 |
2876.483 |
3022.899 |
|
|
|
55.645 |
5.090 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
1848.100 |
2876.483 |
3022.899 |
|
Profit |
23.050 |
27.552 |
20.466 |
|
|
1.25% |
0.96% |
0.68% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
Yes |
|
16 |
No. of employees |
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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term Borrowings |
|
|
|
Loans and advances from directors |
18.080 |
13.770 |
|
Loans and advances from others |
38.305 |
26.430 |
|
|
|
|
|
Total |
56.385 |
40.200 |
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10433970 |
30/05/2014 * |
290,000,000.00 |
ALLAHABAD
BANK(UNDER CONSORTIUM ARRANGEMENT WITH PUNJAB & SIND BANK) |
SCO 91-93 SECTOR
8-C, MADHYAMARG, CHANDIGARH, Chandigarh - 160009, INDIA |
C12676169 |
|
2 |
10316043 |
14/10/2011 |
571,000,000.00 |
ALLAHABAD BANK
(LEAD BANK) |
SCO 90-91-92,
SECTOR- 8-C, MADHYA MARG, CHANDIGARH, Chandigarh - 160018, INDIA |
B24687279 |
|
3 |
10295976 |
15/01/2013 * |
571,000,000.00 |
ALLAHABAD BANK
(LEAD BANK) |
SCO: 91-93,
SECTOR 8-C, MADHYA MARG, CHANDIGARH, |
B68586593 |
|
4 |
10189577 |
02/12/2009 |
146,500,000.00 |
ALLAHABAD BANK |
SECTOR 8-C, CHANDIGARH,
Chandigarh - 160009, INDIA |
A74920745 |
|
5 |
10042767 |
28/03/2007 |
15,300,000.00 |
ALLAHABAD BANK |
SCO: 91-93,
SECTOR- 8C,, CHANDIGARH, Chandigarh - |
A12795647 |
|
6 |
90172148 |
07/03/2003 |
500,000.00 |
ALLAHABAD BANK |
SECTOR 8 C,
CHANDIGARH, Chandigarh, INDIA |
- |
|
7 |
90169750 |
13/01/2003 |
500,000.00 |
ALLAHABAD BANK |
SECTOR 8- C,
CHANDIGARH, Chandigarh, INDIA |
- |
|
8 |
90169582 |
12/02/2013 * |
1,324,000,000.00 |
ALLAHABAD BANK |
SCO: 91-93, SECTOR-
8C, chandigarh, Chandigarh - |
B70001367 |
CONTINGENT
LIABILITIES:
(Rs. in million)
|
Particular |
31.03.2014 |
31.03.2013 |
|
Bank Guarantee |
Nil |
0.400 |
|
Bill Discounting (ILC) |
Nil |
5.454 |
|
Bill Discounting (FLC) |
Nil |
28.097 |
|
LC Outstanding |
28.939 |
66.759 |
|
Entry Tax on Purchase |
44.819 |
44.543 |
|
Interest on Entry Tax |
11.371 |
5.993 |
|
EPCG Licence Duty Saved |
22.253 |
125.700 |
FIXED ASSETS
- Land
- Buildings
- Residential building
- Office building
- Factory building
- Other building
- Plant and equipment
- Other plant and equipment
- Furniture and fixtures
- Vehicles
- Motor vehicles
- Office equipment
- Computer equipments
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 records 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.66.18 |
|
|
1 |
Rs.100.46 |
|
Euro |
1 |
Rs.74.60 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SUD |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
45 |
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.