MIRA INFORM REPORT
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Report No. : |
344987 |
|
Report Date : |
15.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
NIRLEP APPLIANCES PRIVATE LIMITED (w.e.f. 27.11.2014) |
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|
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|
Formerly Known
as : |
NIRLEP APPLIANCES LIMITED (w.e.f. 24.11.2005) NIRLEP APPLIANCES PRIVATE LIMITED (w.e.f. 22.06.2005) DURAWARE PRIVATE LIMITED |
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Registered
Office : |
B-5, MIDC, Industrial Area, Railway Station Road, Aurangabad - 431005,
Maharashtra |
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Tel. No.: |
91-240-2376214 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
16.07.1979 |
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Com. Reg. No.: |
11-021470 |
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Capital
Investment / Paid-up Capital : |
Rs. 35.581 Million |
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CIN No.: [Company Identification
No.] |
U27200MH1979PTC021470 |
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IEC No.: |
0388068922 |
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TAN No.: [Tax Deduction & Collection
Account No.] |
NSKD01728G |
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PAN No.: [Permanent Account No.] |
AABCB3162G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Aluminium Non-Stick Cookware and is also Involved in Trading of Pressure Cookers, Gas Stoves and Lighters. |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Nirlep Appliances Limited (Nirlep) was incorporated as Silverlite Nirlepware Industries Pvt. Ltd (SNIPL) by late Mr. Nilkanth Bhogale in Aurangabad for manufacturing of non-stick cookware. The name of the company was changed to Nirlep Appliances Limited in November 2005. Nirlep manufactures aluminium non-stick cookware and is also involved in trading of pressure cookers, gas stoves and lighters. The company has achieved sales turnover of Rs.987.387 million in FY-14 as compared to Rs.923.992 million in FY-13 and reported top line growth of 6.86%. Rating takes consideration from its experienced promoter group and established brand name in the cookware segment along with wide distribution network and diversified clientele. The ratings, however, are constrained by low net worth, high gearing levels, working capital intensive operations and competition from organised and unorganised players as well as thin profitability margin in FY-14 due to increase in raw material price and promotional expenditure. However, trade relations are fair. Business is active. Payment terms reported to be usually correct. The company can be considered normal for business dealing 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 |
CARE |
|
Rating |
Long term bank facilities = (BBB-) |
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Rating Explanation |
Moderate degree of safety and moderate credit risk. |
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Date |
24.10.2014 |
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Rating Agency Name |
CARE |
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Rating |
Short term bank facilities = A3 |
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Rating Explanation |
Moderate degree of safety and higher credit risk |
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Date |
24.10.2014 |
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-CO OPERATIVE
(TEL. NO.: 91-240-2376121)
LOCATIONS
|
Registered/ Corporate Office : |
B-5, MIDC, Industrial Area, Railway Station Road, Aurangabad - 431005,
Maharashtra, India |
|
Tel. No.: |
91-240-2376121/ 2374899 / 2374817 |
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Fax No.: |
91-240-2376214 |
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E-Mail : |
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Website : |
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Factory 1: |
B-6/7, Railway Station, MIDC Area, Station, Aurangabad – 431005, Maharashtra,
India |
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Factory 2: |
B-8, Railway Station, MIDC Area, Station, Aurangabad – 431005,
Maharashtra, India |
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Factory 3: |
GUT No. 16, Naigaon, Khandewadi, Paithan Road, Aurangabad – 431106,
Maharashtra, India |
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Factory 4: |
21A-24A, Additional MIDC Area, Jalna – 431203, Maharashtra, India |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Bharatendu Chandrakant Modi |
|
Designation : |
Additional Director |
|
Address : |
Flat No. 302, Plot No.125, Venkateshwara Residency, Sri Nagar Colony, Hyderabad - 500073, Andhra Pradesh, India |
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Date of Birth/Age : |
02.10.1957 |
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Date of Appointment : |
21.10.2013 |
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DIN No.: |
00319689 |
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Name : |
Mr. Nityanand Jayant Bhogale |
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Designation : |
Director |
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Address : |
21, Jaynagar, Aurangabad - 431005, Maharashtra, India |
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Date of Birth/Age : |
17.06.1961 |
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Date of Appointment : |
27.03.2001 |
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DIN No.: |
00072530 |
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Name : |
Mr. Ramchandra Neelkanth Bhogale |
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Designation : |
Director |
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Address : |
20, Mitramandal Co- Operative Housing Society, Osmanpura, Krantichowk, Jawahar Colony, Aurangabad - 431005, Maharashtra, India |
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Date of Birth/Age : |
08.02.1955 |
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Date of Appointment : |
17.12.2006 |
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DIN No.: |
00292417 |
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Name : |
Mr. Vinayak Manik Joglekar |
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Designation : |
Director |
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Address : |
63/3 Swapnarekha, Off Karve Road, Pune - 411004, Maharashtra, India |
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Date of Birth/Age : |
27.05.1955 |
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Date of Appointment : |
17.12.2006 |
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DIN No.: |
00498121 |
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Name : |
Mr. Mukund Nilkanth Bhogale |
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Designation : |
Managing director |
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Address : |
8 Mitra Manadal Co- Operative Housing Society, New Osmanpura, Aurangabad - 431005, Maharashtra, India |
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Date of Birth/Age : |
13.05.1958 |
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Date of Appointment : |
20.07.1993 |
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DIN No.: |
00072564 |
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Name : |
Mr. Chandrahas Chandrakant Charekar |
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Designation : |
Director |
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Address : |
Flat No. 1/2, Building No. F-24, Panchjyot Co-Operative Housing Society, Sector No. 29, Vashi, New Mumbai - 400703, Maharashtra, India |
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Date of Birth/Age : |
21.09.1955 |
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Date of Appointment : |
29.09.2012 |
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DIN No.: |
00030161 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
NOTE: SHAREHOLDING DETAILS FILE ATTACHED
AS ON 30.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
18.75 |
|
Bodies
corporate |
46.85 |
|
Directors
or relatives of directors |
32.74 |
|
Other
top fifty shareholders |
1.66 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Aluminium Non-Stick Cookware and is also Involved in Trading of Pressure Cookers, Gas Stoves and Lighters. |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
· Bank of Maharashtra Kranti Chock Branch, J.M. Gandhi Building, Adalat Road, Aurangabad - 431005, Maharashtra, India · The Saraswat Co-Operative Bank Limited Station Road Branch, Aurangabad - 431005, Maharashtra, India |
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Auditors : |
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Name : |
S.V. Gogate and Company Chartered Accountants |
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Address : |
5, Anuruddha Society Sant Janabai Path, Vile Parle, Mumbai – 400057,
Maharashtra, India |
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Tel. No.: |
91-22-26131839 |
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Income-tax
PAN of auditor or auditor's firm : |
AABPG4828K |
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Memberships : |
-- |
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Collaborators : |
-- |
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
485,000 |
Equity Shares |
Rs. 100/- each |
Rs. 48.500 Million |
|
15,000 |
Preference Shares |
Rs. 100/- each |
Rs. 1.500 Million |
|
|
Total |
|
Rs. 50.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
325,814 |
Equity Shares |
Rs. 100/- each |
Rs. 32.581
Million |
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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 |
|
|
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|
(1)Shareholders' Funds |
|
|
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(a) Share Capital |
32.581 |
32.281 |
31.057 |
|
(b) Reserves & Surplus |
121.914 |
112.483 |
88.699 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
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(2) Share
Application money pending allotment |
0.000 |
5.790 |
7.838 |
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Total
Shareholders’ Funds (1) + (2) |
154.495 |
150.554 |
127.594 |
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(3)
Non-Current Liabilities |
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|
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(a) Long-term borrowings |
108.319 |
161.156 |
173.380 |
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(b) Deferred tax liabilities (Net) |
0.000 |
0.245 |
0.602 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
long-term provisions |
0.000 |
0.000 |
0.000 |
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Total
Non-current Liabilities (3) |
108.319 |
161.401 |
173.982 |
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(4) Current Liabilities |
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(a)
Short term borrowings |
182.153 |
189.999 |
140.442 |
|
(b)
Trade payables |
82.988 |
87.186 |
50.811 |
|
(c)
Other current liabilities |
58.422 |
51.264 |
65.661 |
|
(d)
Short-term provisions |
34.566 |
41.041 |
28.600 |
|
Total
Current Liabilities (4) |
358.129 |
369.490 |
285.514 |
|
|
|
|
|
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TOTAL |
620.943 |
681.445 |
587.090 |
|
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II.
ASSETS |
|
|
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|
(1) Non-current assets |
|
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(a)
Fixed Assets |
|
|
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|
(i)
Tangible assets |
201.166 |
217.654 |
239.655 |
|
(ii)
Intangible Assets |
0.050 |
0.050 |
0.050 |
|
(iii)
Capital work-in-progress |
0.000 |
2.414 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.589 |
0.944 |
1.134 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and
Advances |
0.000 |
0.000 |
0.000 |
|
(e)
Other Non-current assets |
1.304 |
1.956 |
0.000 |
|
Total
Non-Current Assets |
203.109 |
223.018 |
240.839 |
|
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(2) Current assets |
|
|
|
|
(a)
Current investments |
0.364 |
1.598 |
1.238 |
|
(b)
Inventories |
144.917 |
151.606 |
116.970 |
|
(c)
Trade receivables |
212.841 |
209.732 |
147.691 |
|
(d)
Cash and cash equivalents |
9.826 |
38.544 |
27.844 |
|
(e)
Short-term loans and advances |
29.087 |
31.021 |
25.635 |
|
(f)
Other current assets |
20.799 |
25.926 |
26.873 |
|
Total
Current Assets |
417.834 |
458.427 |
346.251 |
|
|
|
|
|
|
TOTAL |
620.943 |
681.445 |
587.090 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
987.387 |
923.991 |
799.281 |
|
|
|
Other Income |
7.286 |
3.841 |
3.397 |
|
|
|
TOTAL (A) |
994.673 |
927.832 |
802.678 |
|
|
|
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|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
418.330 |
384.056 |
347.840 |
|
|
|
Purchases of Stock-in-Trade |
157.136 |
146.706 |
121.949 |
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
0.593 |
0.564 |
4.265 |
|
|
|
Employees benefits expense |
113.312 |
92.268 |
68.256 |
|
|
|
Managerial Remuneration |
4.676 |
3.549 |
1.900 |
|
|
|
Payment to Auditor |
0.113 |
0.127 |
0.092 |
|
|
|
Insurance Expenses |
1.889 |
1.736 |
1.934 |
|
|
|
Power and Fuel |
33.638 |
29.577 |
25.403 |
|
|
|
Exceptional Items |
0.000 |
0.000 |
-0.513 |
|
|
|
Other expenses |
174.855 |
163.885 |
146.162 |
|
|
|
TOTAL (B) |
904.542 |
822.468 |
717.288 |
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PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
90.131 |
105.364 |
85.390 |
|
|
|
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|
|
|
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|
Less |
FINANCIAL
EXPENSES (D) |
51.422 |
45.016 |
45.603 |
|
|
|
|
|
|
|
|
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|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
38.709 |
60.348 |
39.787 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
27.120 |
31.019 |
33.774 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
11.589 |
29.329 |
6.013 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
2.105 |
5.506 |
1.611 |
|
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|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
9.484 |
23.823 |
4.402 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
29.11 |
73.79 |
14.17 |
|
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) |
(%) |
0.96 |
2.58 |
0.55 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
9.13 |
11.40 |
10.68 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.87 |
4.33 |
1.03 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08 |
0.19 |
0.05 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.88 |
2.33 |
2.46 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.17 |
1.24 |
1.21 |
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 |
31.057 |
32.281 |
32.581 |
|
Reserves & Surplus |
88.699 |
112.483 |
121.914 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
7.838 |
5.790 |
0.000 |
|
Net
worth |
127.594 |
150.554 |
154.495 |
|
|
|
|
|
|
Long-term borrowings |
173.380 |
161.156 |
108.319 |
|
Short term borrowings |
140.442 |
189.999 |
182.153 |
|
Total
borrowings |
313.822 |
351.155 |
290.472 |
|
Debt/Equity
ratio |
2.460 |
2.332 |
1.880 |
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 |
799.281 |
923.991 |
987.387 |
|
|
|
15.603 |
6.861 |
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 |
799.281 |
923.991 |
987.387 |
|
Profit |
4.402 |
23.823 |
9.484 |
|
|
0.55% |
2.58% |
0.96% |
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 |
No |
|
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 |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10225641 |
22/05/2010 |
1,946,000.00 |
THE
SARASWAT CO-OPERATIVE BANK LIMITED |
RASEC, KANCHAN
CHAMBERS, KRANTI CHOWK, STATION ROAD, AURANGABAD - 431005, MAHARASHTRA INDIA |
A87919445 |
|
2 |
10063473 |
30/07/2007 |
10,000,000.00 |
BANK OF
MAHARASHTRA |
KRANTI
CHOWK BRANCH, J.M. GANDHI BUILDING, ADALAT ROAD, AURANGABAD - 431005, MAHARASHTRA,
INDIA |
A20777355 |
|
3 |
90242805 |
16/11/2005 |
578,602.00 |
THE
SARAWAT BANK |
STAION
ROAD, AURAN GABAD, MAHARASHTRA, INDIA |
- |
|
4 |
90242754 |
21/03/2015
* |
462,800,000.00 |
BANK OF
MAHARASHTRA |
J.M. GANDHI
BUILDING, ADALAT ROAD, AURANGABAD - 431005, |
C50125152 |
* Date of charge modification
OPERATING RESULTS
The sales turnover for the year was higher by 6.86% at Rs. 987.387 Million
lacs compared to Rs. 923.992 Million in the previous year and company is having
a surplus of Rs. 11.589 Million before tax.
The profit after tax was lower at Rs. 9.484 Million lacs as compared to
previous year’s Rs. 23.823 Million on account of increase in prices of raw
materials, employees benefit and promotional expenses during the year.
EXPORT
The export turnover for the year was lower at Rs. 40.853 Million as
compared to previous year’s Rs. 50.750 Million. This decrease in export turnover
was on account of discontinuation of one European buyer due to development of
new product with latest specification. Hopefully company is going to start the
business in this with new product.
FIXED ASSETS:
· Factory Building
· Office Building
· Plant and Machinery
· Office Equipment
· Vehicles
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or anti-terrorism
sanction laws or whose assets were seized, blocked, frozen or ordered forfeited
for violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.11 |
|
|
1 |
Rs.99.50 |
|
Euro |
1 |
Rs.74.24 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
ARC |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
48 |
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.