MIRA INFORM REPORT
|
Report No. : |
344503 |
|
Report Date : |
09.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
FIVEBRO INTERNATIONAL PRIVATE LIMITED (w.e.f. 25.08.2009) |
|
|
|
|
Formerly Known
As : |
FIVEBRO
WATER SERVICES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Building No. 12A
(House No.13), Sigma Corporate, Behind Rajpath Club, Off S.G. Road,
Bodakdev, Ahmedabad – 380054, Gujarat |
|
Tel. No.: |
91-79- 61609000 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
24.10.2002 |
|
|
|
|
Com. Reg. No.: |
04-041470 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.4.282 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U41000GJ2002PTC041470 |
|
|
|
|
IEC No.: |
0804000981 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMF00279G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACF7550R |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged into trading of water treatment components such as
pumps, motors, valves and membranes. |
|
|
|
|
No. of Employees
: |
Information declined by the Management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (18) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of well established “Doshion Group, Ahmedabad”,
which is an established player in water management industry. The company possesses a moderate financial profile marked by high
financial leverage and high working capital intensity of its operations. Rating is constrained on company’s thin profit margin which is
vulnerable to volatile raw material prices and its modest scale of
operations. Rating continue to constrain on company’s delay in servicing of
its debt obligation due to its weak liquidity, on account of stretched
receivables and low cash accruals. However, trade relations seem to be fair. Business is active. Payment
terms are reported as slow but correct. In view of operational synergies that the subject derives being part
of the “Doshion Group”, the subject can be considered for business dealings
with caution. Note : Partial operational information of the company has been taken form
indirect source i.e. CARE. FIPL started operations with trading of water treatment components such as pumps, motors, valves and membranes. In January 2011, the company also commenced fabrication of pressure vessels, actiflow (used in raw water treatment), atmospheric and storage tanks and skids and supports. However, it discounted its fabrication division from current financial year 2014 due to reduction in order inflow and delayed collections from the clients. |
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 |
CARE |
|
Rating |
Long term bank facilities : D |
|
Rating Explanation |
lowest-credit-quality and very low prospects of recovery. |
|
Date |
February, 2015 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities : D |
|
Rating Explanation |
lowest-credit-quality and very low prospects of recovery. |
|
Date |
February, 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
Management Non-cooperative. (Tel. No.: 91-79-61609000)
LOCATIONS
|
Registered Office : |
Building No. 12A (House No.13), Sigma Corporate, Behind Rajpath
Club, Off S.G. Road, Bodakdev, Ahmedabad – 380054, Gujarat, India |
|
Tel. No.: |
91-79-61609000 |
|
Fax No.: |
91-79-61609061 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
10000 Sq. ft. |
|
Location : |
Owned |
|
|
|
|
Head Office : |
Building No. 9-10, Sigma Corporate, Behind Rajpath Club, Off S.G. Road, Bodakdev, Ahmedabad - 380054, Gujarat, India |
|
|
|
|
Branches Office: |
Located at: Ø Mumbai Ø Chennai Ø Hyderabad Ø Kolkata |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Nishit Dhirajlal Doshi |
|
Designation : |
Director |
|
Address : |
71, Oceana Apartment, Kelushkar, Kelushkar Road, Shivaji Park, Mumbai
- 400028, Maharashtra, India |
|
Date of Birth/Age : |
13.08.1967 |
|
Qualification : |
M.Com and MBA Finance |
|
Experience : |
31 Years |
|
Date of Appointment : |
24.10.2002 |
|
PAN No.: |
AACPD8697A |
|
DIN No.: |
00151001 |
|
|
|
|
Name : |
Mrs. Ramilaben Dhirajlal Doshi |
|
Designation : |
Director |
|
Address : |
71, Oceana Apartment, Kelushkar, Kelushkar Road, Shivaji Park, Mumbai
- 400028, Maharashtra, India |
|
Date of Birth/Age : |
27.11.1943 |
|
Qualification : |
B.Com |
|
Experience : |
51 Years |
|
Date of Appointment : |
01.05.2004 |
|
PAN No.: |
AACPD7750N |
|
DIN No.: |
00151037 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Nishit D. Doshi |
|
5000 |
|
Pooja Doshi |
|
37500 |
|
Purvi Doshi |
|
37500 |
|
Kalpana A. Doshi |
|
37500 |
|
Rupa Doshi |
|
32500 |
|
Krupa Doshi |
|
37500 |
|
Ramilaben D. Doshi |
|
62500 |
|
Darshan International Limited, Mauritius |
|
158815 |
|
|
|
|
|
Total |
|
408815 |
|
Names of Shareholders (Preference
Shares) |
|
No. of Shares |
|
Darshan International Limited, Mauritius |
|
19421 |
|
|
|
|
|
Total |
|
19421 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2014
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
38.85 |
|
Directors or relatives of Directors |
61.15 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged into trading of water treatment components such as
pumps, motors, valves and membranes. |
|
|
|
|
Products : |
|
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the Management |
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Bankers : |
IDBI Bank Limited |
|||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||
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Facilities : |
|
|
Auditors : |
|
|
Name : |
Deepak C. Gandhi and Company Chartered Accountants |
|
Address : |
7, Shakti Shopping Centre, Vepari Jeen, Kalol – 382721, Gujarat, India
|
|
Tel. No.: |
91-79-26565130 / 91-2764-223474 |
|
E-Mail : |
|
|
PAN No.: |
AATPG7928C |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Enterprises over which Key Management personnel/ relative are able to
exercise their significant influence : |
|
CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,000,000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Million |
|
3,000,000 |
Preference Shares |
Rs.10/- each |
Rs.30.000 Million |
|
|
Total |
|
Rs.80.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
408,815 |
Equity Shares |
Rs.10/- each |
Rs.4.088 Million |
|
19,421 |
Preference Shares |
Rs.10/- each |
Rs.0.194 Million |
|
|
Total |
|
Rs.4.282 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 |
4.282 |
4.088 |
4.088 |
|
(b) Reserves &
Surplus |
225.054 |
197.095 |
193.348 |
|
(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) |
229.336 |
201.183 |
197.436 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
162.479 |
286.111 |
315.949 |
|
(b) Deferred tax
liabilities (Net) |
15.063 |
12.275 |
10.068 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
5.012 |
5.193 |
4.065 |
|
Total Non-current
Liabilities (3) |
182.554 |
303.579 |
330.082 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
260.899 |
198.627 |
121.751 |
|
(b) Trade payables |
245.837 |
233.494 |
203.451 |
|
(c) Other current
liabilities |
96.820 |
27.155 |
20.298 |
|
(d) Short-term provisions |
12.075 |
24.693 |
20.105 |
|
Total Current Liabilities
(4) |
615.631 |
483.969 |
365.605 |
|
|
|
|
|
|
TOTAL |
1027.521 |
988.731 |
893.123 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
247.113 |
255.844 |
237.722 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
2.057 |
0.124 |
10.471 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
249.170 |
255.968 |
248.193 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
177.454 |
184.604 |
185.092 |
|
(c) Trade receivables |
308.013 |
265.813 |
119.390 |
|
(d) Cash and cash
equivalents |
24.235 |
26.658 |
5.800 |
|
(e) Short-term loans and
advances |
268.649 |
255.688 |
334.648 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
778.351 |
732.763 |
644.930 |
|
|
|
|
|
|
TOTAL |
1027.521 |
988.731 |
893.123 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
813.888 |
826.117 |
709.587 |
|
|
Other Income |
35.637 |
35.174 |
6.702 |
|
|
TOTAL |
849.525 |
861.291 |
716.289 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
631.584 |
666.002 |
572.177 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
38.125 |
0.720 |
(31.506) |
|
|
Employees benefits
expense |
53.036 |
64.931 |
52.118 |
|
|
Other expenses |
49.149 |
51.698 |
42.768 |
|
|
TOTAL |
771.894 |
783.351 |
635.557 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
77.631 |
77.940 |
80.732 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
59.287 |
61.389 |
33.525 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX,
DEPRECIATION AND AMORTISATION |
18.344 |
16.551 |
47.207 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
8.739 |
8.496 |
7.978 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
9.605 |
8.055 |
39.229 |
|
|
|
|
|
|
|
Less |
TAX |
4.757 |
4.308 |
14.079 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
4.848 |
3.747 |
25.150 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
156.158 |
92.339 |
0.255 |
|
|
Purchase Incentives |
0.000 |
0.000 |
2.583 |
|
|
TOTAL EARNINGS |
156.158 |
92.339 |
2.838 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Stores and Components |
206.190 |
194.190 |
139.068 |
|
|
TOTAL IMPORTS |
206.190 |
194.190 |
139.068 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
|
|
|
|
Basic |
11.86 |
9.17 |
61.52 |
|
|
Diluted |
11.86 |
9.17 |
61.52 |
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 (used in) operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
0.60 |
0.45 |
3.54 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
9.54 |
9.43 |
11.38 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.93 |
0.81 |
4.39 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04 |
0.04 |
0.20 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.85 |
2.41 |
2.22 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.26 |
1.51 |
1.76 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
4.088 |
4.088 |
4.282 |
|
Reserves & Surplus |
193.348 |
197.095 |
225.054 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
197.436 |
201.183 |
229.336 |
|
|
|
|
|
|
long-term borrowings |
315.949 |
286.111 |
162.479 |
|
Short term borrowings |
121.751 |
198.627 |
260.899 |
|
Total borrowings |
437.700 |
484.738 |
423.378 |
|
Debt/Equity ratio |
2.217 |
2.409 |
1.846 |
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 |
709.587 |
826.117 |
813.888 |
|
|
|
16.422 |
(1.480) |
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 |
709.587 |
826.117 |
813.888 |
|
Profit |
25.150 |
3.747 |
4.848 |
|
|
3.54% |
0.45% |
0.60% |
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 |
Yes |
|
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 |
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 |
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Loans from Directors and related parties |
156.012 |
244.810 |
|
|
|
|
|
Total |
156.012 |
244.810 |
BUSINESS OPERATIONS:
The total revenue of the Company has decreased from Rs. 826.100 Million to Rs. 813.800 Million. The Profit before tax of the Company has also increased from Rs. 8.054 Million to Rs. 9.605 Million. The net profit after tax has increased to Rs. 4.847 Million as compared to previous year’s net profit of Rs. 3.747 Million.
Note: The Registered
Office of the company has been shifted from 103/A, 10th Floor,
Tirthbhoomi Appartment, Near Law Lgarden, Ellisbridge, Ahmedabad – 380009,
Gujarat, India to the present address w.e.f. 04.05.2012.
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10435661 |
27/11/2013 * |
83,756,425.00 |
INDUSIND BANK LIMITED |
WORLD BUSINESS HOUSE, M. G. ROAD, NEAR PARIMAL GARDEN, ELLIS BRIDGE, AHMEDABAD - 380015, GUJARAT, INDIA |
B93839744 |
|
2 |
10417220 |
20/03/2013 |
100,000,000.00 |
TATA CAPITAL FINANCIAL SERVICES LIMITED |
ONE FORBES, DR. V. B. GANDHI MARG, FORT, MUMBAI -
400001, |
B72445638 |
|
3 |
10430900 |
14/08/2015 * |
553,400,000.00 |
BANK OF MAHARASHTRA |
CORPORATE FINANCE BRANCH, 1183/A, F.C. ROAD, PUNE - 411005, MAHARASHTRA, INDIA |
C65165334 |
|
4 |
10431915 |
14/08/2015 * |
553,400,000.00 |
BANK OF MAHARASHTRA |
CORPORATE FINANCE BRANCH, 1183/A, F.C. ROAD, PUNE - 411005, MAHARASHTRA, INDIA |
C65275042 |
* Date of charge modification
FIXED ASSETS:
- Land
- Building
- Equipments
- Electric Installation
- Furniture and Fixture
- Vehicles
- Trucks
- Air Conditioner
- Computer
- Plant and Machinery
- Bore-well
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.65.15 |
|
|
1 |
Rs.99.78 |
|
Euro |
1 |
Rs.73.33 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILITY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
18 |
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.