MIRA INFORM REPORT

 

 

Report No. :

344688

Report Date :

09.10.2015

 

                                                                IDENTIFICATION DETAILS

 

Name :

L&T VALVES LIMITED (w.e.f. 29.04.2013)

 

 

Formerly Known As :

AUDCO INDIA LIMITED

 

 

Registered Office :

L and T House, Ballard Estate, Mumbai – 400001, Maharashtra

Tel No.:

91-44-22498201

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

23.11.1961

 

 

Com. Reg. No.:

11-012188

 

 

Capital Investment / Paid-up Capital :

Rs.156.326 Million

 

 

CIN No.:

[Company Identification No.]

U74999MH1961PLC012188

 

 

IEC No.:

Not Available

 

 

PAN No.:

[Permanent Account No.]

AAACA9647E

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

Line of Business :

Manufacture and sale of Industrial Valves.

 

 

No. of Employees :

Information declined by the management

 

 

RATING & COMMENTS

 

MIRA’s Rating :                     

A (66)

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Good

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is a subsidiary of Larsen and Toubro Limited. It is a well-established company incorporated in the year 1961 having fine track.

 

The company has reported a top line growth of 40% along with profitability margin of 10% in the FY-14. It has healthy operational activity.

 

The assigned ratings continues to reflect the established position of the company in the valve manufacturing space; strengths derived from its strong holding company and its favorable financial risk profile characterized by sound net worth position and long business track record, supported by higher exports income and sound execution skills.

 

However, the company business risk is expected to increase because of exposure to risks related to large infrastructural development projects being undertaken by various special purpose vehicles, primarily through its associate companies, L&T Infrastructure Development Projects Limited (L&T IDPL), L&T Power Development Limited (L&T PDL) and L&T Realty Limited.

 

The company has potential to manage its working capital requirements efficiently leading to healthy generation of cash flows remain key rating sensitivity.

 

Business is active. Payments are slow but correct.

 

In view of aforesaid, 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.

 

ECGC Country Risk Classification List – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

ICRA

Rating

Long term fund Based limits = AA

Rating Explanation

High degree of safety and very low credit risk

Date

January, 2015

 

Rating Agency Name

ICRA

Rating

Short term  non Fund Based limits = A1+

Rating Explanation

Very strong degree of safety and carry very low credit risk.

Date

January, 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

 

MANAGEMENT NON-COOPERATIVE (91-44-22618181)

 

LOCATIONS

 

Registered Office :

L and T House, Ballard Estate, Mumbai – 400001, Maharashtra, India

Tel. No.:

Not Available

Fax No.:

Not Available

E-Mail :

prasad.shanbhag@larsentoubro.com

sv@audcoindia.com

Website :

http://www.lntvalves.com

 

 

Corporate Office :

976, Mount - Poonamallee Road, Opposite L&T Construction Campus, Manapakkam, Chennai – 600089, Tamilnadu, India

Tel. No.:

91-44-22498201

Fax No.:

91-44-22492794

E-Mail :

valves@larsentoubro.com

 

 

Factory :

Located at:

  • Chennai
  • Coimbatore 

 

 

                                                                           DIRECTORS

 

As on 31.03.2015

 

Name :

Mr. Subramanian Ramakrishnan Subramanian

Designation :

Director

Address :

4G, K G Srivatsava Garden, , Saouth Avenue Raod, Srinagar Colony, Saidapet, Chennai – 600015, Tamilnadu, India 

Date of Birth/Age :

05.10.1954

Qualification :

BE (Mechanical)

Date of Appointment :

24.08.2012

DIN No.:

03278824

 

Name :

Mr. Venkatasubramanian

Designation :

Director

Address :                            

6D and E, Kg Towers, 30 And 30a, 100 Feet Bypass Road, Velacherry, Chennai - 600042, Tamilnadu, India

Date of Appointment :

01.07.2014

DIN No.:

06900806

 

 

Name :

Mr. Balasubramaniam Ramakrishnan

Designation :

Director

Address :

A1 - 129, Viii Main Road, Anna Nagar, Chennai - 600040, Tamilnadu, India

Date of Appointment :

19.06.2014

DIN No.:

00240737

 

 

Name :

Mr. Pathik Rajmalbhai Kothari

Designation :

Director

Address :

Lohtse Co-Operative Housing Society, Flat 3, Ruia Park, Juhu, Mumbai - 400049, Maharashtra, India

Date of Appointment :

19.06.2014

DIN No.:

01773291

 

 

KEY EXECUTIVES

 

Name :

Mr. Venkatasubramanian Venkatachalam Nelepally

Designation :

Manager

Address :

6D KG Towers 30 and 30A, 100FT, Byepass Road, Velacherry, Chennai – 600042, Tamilnadu, India

Date of Birth/Age :

24.08.1960

Date of Appointment :

01.07.2009

PAN No.:

AADPV6183C

 

 

Name :

Mr. Vaidyanathan Subramanian

Designation :

Secretary

Address :

NO 5, 33rd Street Thillai Ganda Nagar, Chennai - 600061, Tamilnadu, India

Date of Appointment :

16.10.2014

PAN No.:

AABPV7899R

 

 

Name :

Mr. Vaidyanathan Subramanian

Designation :

Chief Finance Officer

Address :

No 5, 33rd Street Thillai Ganda Nagar, Chennai - 600061, Tamilnadu, India

Date of Appointment :

09.07.2014

PAN No.:

AABPV7899R

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 12.09.2013

 

Names of Shareholders

 

No. of Shares

Larsen and Toubro Limited, India

 

1563254

Jagdish Pandurang Nayak Jointly With Larsen and Toubro Limited, India

 

1

Narayanaswamy Hariharan Jointly With Larsen and Toubro Limited, India

 

1

Sadagopan Raghavan Thathachari Jointly With Larsen and Toubro Limited, India

 

1

Subramanian Ramakrishnan Subramanian Jointly With Larsen and Toubro Limited, India

 

1

Raju Vishwanathan iyer Jontly with Toubro Limited

 

1

Prasad Shishnu Shanbhag Jointly with Larsen and Toubro Limited

 

1

Total

 

1563260

 

Equity Share Break up (Percentage of Total Equity)

 

As on 12.09.2013

 

Category

Percentage

Bodies corporate

100.00

Total

100.00

 

 

 

                                                                    BUSINESS DETAILS

 

Line of Business :

Manufacture and sale of Industrial Valves.

 

 

Products :

Product Description

ITC Code

Industrial Valves

84818030

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

Not Divulged

 

PRODUCTION STATUS: NOT AVAILABLE

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

Information declined by the management

 

 

Bankers :

Banker Name

The Hongkong and Shanghai Banking Corporation Limited

Branch Address

No 30, Rajaji Salai, Chennai - 600001, Tamilnadu, India

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

Facilities :

Secured Loan

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

Long-term Borrowings

 

 

Foreign currency term loans from banks

39.358

33.080

Short-term borrowings

 

 

Loans repayable on demand from banks

36.456

4.567

Total

75.814

37.647

 

Auditors :

 

Name :

Sharp and Tannan

Chartered Accountants

Address :

Parsn Manere, Block A-4, III Floor,602 Anna Salai, Chennai - 600006, Tamilnadu, India

PAN N Income-tax PAN of auditor or auditor's firm :

AAAFS2512D

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Holding Company:
  • Larsen and Toubro Limited, India [L99999MH1946PLC004768]

 

 

Fellow subsidiary:

  • L and T Infotech Limited, India [U72900MH1996PLC104693]
  • L and T Construction Equipment Limited (formerly L and T Komatsu Limited), India [U29119MH1997PLC109700]
  • L and T Cutting Tools Limited, India [U28920MH1952PLC008893]
  • L and T General Insurance Company Limited, India [U66030MH2007PLC177117]
  • L and T MHI Boiler Private Limited, India [U29119MH2006PTC165102]
  • Larsen and Toubro Saudi Arabia LLC
  • L and T Electrical and Automation FZE
  • Larsen and Toubro (Qingdao) Rubber Machinery Company Limited

 

 

Associate of L and T Ltd.
  • L and T Kobelco Machinery Private Limited, India [U29253MH2010PTC210325]

 

 

Other related party:
  • Flowserve GB Limited
  • Flowserve Sulphur Springs USA
  • Flowserve Flow control GMBH Germany
  • Flowserve SA(pty) Limited
  • Flowserve Flow Control (UK) Limited
  • Flowserve Flow Control Pty Limited., Australia
  • Flowserve Inc, Canada
  • Flowserve Limitorque
  • Flowserve Flow Control Benelux Bv, Netherland
  • Flowserve (USA)
  • Flowserve India Controls Private Limited, India

 [U85110KA1996PTC021388]

 

 

CAPITAL STRUCTURE

 

AFTER 22.08.2014

 

Authorised Capital: Rs. 750.000 Million

 

Issued, Subscribed & Paid-up Capital : Rs. 180.000 Million

 

As on 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1800000

Equity Shares

Rs.100/- each

Rs.180.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1563260

Equity Shares

Rs.10/- each

Rs.156.326 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

156.326

156.326

156.326

(b) Reserves & Surplus

1834.100

2198.795

2963.605

(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)

1990.426

2355.121

3119.931

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

39.358

33.080

0.164

(b) Deferred tax liabilities (Net)

65.895

50.406

46.865

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

35.562

16.595

20.403

Total Non-current Liabilities (3)

140.815

100.081

67.432

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

636.456

4.567

44.267

(b) Trade payables

3486.253

1448.879

1225.702

(c) Other current liabilities

2315.734

246.426

300.592

(d) Short-term provisions

1067.520

877.393

1010.402

Total Current Liabilities (4)

7505.963

2577.265

2580.963

 

 

 

 

TOTAL

9637.204

5032.467

5768.326

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

807.790

512.830

778.181

(ii) Intangible Assets

58.646

0.000

0.000

(iii) Capital work-in-progress

6.899

9.276

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

27.989

4.358

8.459

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

901.324

526.464

786.640

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

2824.444

1327.542

1345.940

(c) Trade receivables

4675.723

1534.044

1538.862

(d) Cash and cash equivalents

0.950

788.608

1235.081

(e) Short-term loans and advances

1234.517

855.797

861.786

(f) Other current assets

0.246

0.012

0.017

Total Current Assets

8735.880

4506.003

4981.686

 

 

 

 

TOTAL

9637.204

5032.467

5768.326

 

 

PROFIT & LOSS ACCOUNT

 

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

9127.099

6507.208

5604.712

 

Other Income

245.242

255.776

178.317

 

TOTAL (A)

9372.341

6762.984

5783.029

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

6464.191

4582.137

3680.362

 

Purchases of Stock-in-Trade

9.847

0.000

0.000

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

(599.806)

2.539

(175.692)

 

Employees benefits expense

710.653

649.553

594.375

 

Other expenses

1293.531

841.449

696.063

 

Extraordinary items

0.000

-0.606

0.000

 

TOTAL (B)

7878.416

6075.072

4795.108

 

 

 

 

 

Less

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)

1493.925

687.912

987.921

 

 

 

 

 

Less

FINANCIAL EXPENSES (D)

10.360

5.273

3.070

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)

1483.565

682.639

984.851

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION (F)

78.253

73.645

73.705

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX (E-F)   (G)

1405.312

608.994

911.146

 

 

 

 

 

Less

TAX (H)

434.122

211.014

303.011

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX  (G-H)   (I)

971.190

397.980

608.135

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD 

377.219

1181.827

852.529

 

 

 

 

 

Less

APPROPRIATIONS

 

 

 

 

Dividend

97.119

39.798

60.814

 

Dividend tax

648.753

1000.486

187.591

 

General Reserve

110.256

162.304

30.432

 

Balance Carried to the B/S

492.281

377.219

1181.827

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

Export Earnings

NA

1219.955

1124.779

 

TOTAL EARNINGS

NA

1219.955

1124.779

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

621.26

254.58

389.02

 

 

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 flows from (used in) operations

1430.822

211.814

1781.672

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

10.64

6.12

10.85

 

 

 

 

 

Operating Profit Margin
(PBIDT/Sales)

(%)

16.37

10.57

17.63

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

14.59

12.12

15.80

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.71

0.26

0.29

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

0.34

0.02

0.01

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.16

1.75

1.93

 

 

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

156.326

156.326

156.326

Reserves & Surplus

2963.605

2198.795

1834.100

Money received against share warrants

0.000

0.000

0.000

 Share Application money pending allotment

0.000

0.000

0.000

Net worth

3119.931

2355.121

1990.426

 

 

 

 

long-term borrowings

0.164

33.080

39.358

Short term borrowings

44.267

4.567

636.456

Total borrowings

44.431

37.647

675.814

Debt/Equity ratio

0.014

0.016

0.340

 

 

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

5604.712

6507.208

9127.099

 

 

16.102

40.261

 

 

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

5604.712

6507.208

9127.099

Profit

608.135

397.980

971.190

 

10.85%

6.12%

10.64%

 

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check list by info agents

Available in Report (Yes/No)

1

Year of establishment

Yes

2

Constitution of the entity -Incorporation details

Yes

3

Locality of the entity

Yes

4

Premises details

No

5

Buyer visit details

--

6

Contact numbers

Yes

7

Name of the person contacted

No

8

Designation of contact person

No

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

11

Pan Card No. of Proprietor / Partners

No

12

Voter Id Card No. of Proprietor / Partners

No

13

Type of business

Yes

14

Line of Business

Yes

15

Export/import details (if applicable)

No

16

No. of employees

No

17

Details of sister concerns

Yes

18

Major suppliers

No

19

Major customers

No

20

Banking Details

Yes

21

Banking facility details

Yes

22

Conduct of the banking account

--

23

Financials, if provided

Yes

24

Capital in the business

Yes

25

Last accounts filed at ROC, if applicable

Yes

26

Turnover of firm for last three years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

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)

Short-term borrowings

 

 

Intercorporate borrowings

600.000

0.000

 

 

 

Total

600.000

0.000

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10092831

14/05/2014 *

5,600,000,000.00

BANK OF BARODA

BANK OF BARODA, MOUNT ROAD BRANCH NO. 1, CLUB HOU
SE ROAD, CHENNAI, TAMIL NADU - 600002, INDIA

C03680774

 

* Date of charge modification

 

FIXED ASSETS

 

Tangible assets

 

  • Land
  • Buildings
  • Plant and equipment
  • Vehicles
  • Computer equipments
  • Other equipments

 

Intangible assets

 

  • Know-how

 

 

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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.63.61

UK Pound

1

Rs.97.27

Euro

1

Rs.69.63

 

 

INFORMATION DETAILS

 

Information Gathered by :

NYA

 

 

Analysis Done by :

SUM

 

 

Report Prepared by :

KVT

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

8

PAID-UP CAPITAL

1~10

7

OPERATING SCALE

1~10

7

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

7

--PROFITABILIRY

1~10

7

--LIQUIDITY

1~10

7

--LEVERAGE

1~10

8

--RESERVES

1~10

8

--CREDIT LINES

1~10

7

--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

 

66

 

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

 

--

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.