MIRA INFORM REPORT
|
Report No. : |
346672 |
|
Report Date : |
26.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
LIUGONG INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
No.82, Ground Floor, Okhla Industrial Estate, Phase-III, New Delhi -
110020 |
|
Tel. No.: |
91-11-47272200 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
14.08.2007 |
|
|
|
|
Com. Reg. No.: |
55-167005 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 1119.469 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31908DL2007FTC167005 |
|
|
|
|
IEC No.: |
0507051181 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
TIN No: |
23761604752 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCL3456H |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Trader, Exporter and Importer of construction equipments
such as CLG - 835, CLG - 856, CLG - 414 etc. |
|
|
|
|
No. of Employees
: |
60 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of “Guangxi Liugong Machinery Company Limited”
China. It is engaged in the business of manufacturer, trader, exporter and
importer of construction equipment. It is an established company incorporated in the year 2007 having
moderate track. Turnover of the company has declined during FY 2014. The company has incurred some accumulated losses. Profitability of the
company is under pressure. Further, the rating also takes into consideration risk associated with
cyclical nature of construction industry and unfavorable gap between trade
payables and trade receivables. Moreover, this rating weakness is partially offset by debt free
balance sheet of the company and support received to the company from its
holding company. Trade relations are reported as fair. Business is active. Payment are
reported to be slow but correct. The company can be considered for business dealings with some
caution. |
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 |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
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 : |
Mr. Manmohan |
|
Designation : |
Senior Accountant |
|
Contact No.: |
91-11-47272200 |
|
Date : |
23.10.2015 |
LOCATIONS
|
Registered Office : |
No.82, Ground Floor, Okhla Industrial Estate, Phase-III, New Delhi -
110020, India |
|
Tel. No.: |
91-11-47272200 |
|
Fax No.: |
Not Available |
|
E-Mail : |
manmohanazad@liugong.com india@liugong.com |
|
Website : |
http://www.liugong.com |
|
Area : |
1500 Sq. Ft. |
|
Location : |
Rented |
|
Locality: |
Industrial |
|
|
|
|
Factory: |
163, Sector 3, Industrial Area, Pitampur, Dhar - 454774, Madhya Pradesh,
India |
|
Tell No.: |
91-7292-416700 |
|
Location: |
Leased |
|
|
|
|
Branch Office : |
Located at: Kolkata |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Li Dongchun |
|
Designation : |
Managing Director |
|
Address : |
Liutai Road. 1, Liunan District - Liuzhou City, 545007, China |
|
Date of Birth/Age : |
18.06.1975 |
|
Date of Appointment : |
01.06.2013 |
|
DIN No.: |
03136497 |
|
|
|
|
Name : |
Guobing Luo |
|
Designation : |
Director |
|
Address : |
7-1-7, Gongcheng District, Heping Road, Liunan,, Liuzhou City, Guangxi, 545007, China |
|
Date of Birth/Age : |
13.11.1971 |
|
Date of Appointment : |
30.09.2014 |
|
DIN No.: |
01420664 |
|
|
|
|
Name : |
Yu Chuanfen |
|
Designation : |
Director |
|
Address : |
Room No 75-2-301 Engineering Board, Heping Road Liunan District, Liuzhou, 545007, China |
|
Date of Appointment : |
30.09.2014 |
|
DIN No.: |
03136536 |
|
|
|
|
Name : |
Mr. Wu Song |
|
Designation : |
Director |
|
Address : |
Room-601, Entrance -1, Building-1, Guomei Xincun District, Liaoyuan Road, Liuzhou City, 86772, China |
|
Date of Birth : |
03.02.1977 |
|
Age: |
37 Years |
|
Experience: |
14 Years |
|
Date of Appointment : |
28.09.2013 |
|
DIN No.: |
06697614 |
|
|
|
|
Name : |
Gong Xun |
|
Designation : |
Additional director |
|
Address : |
Room No-09, Unit-2, Building-91, Yuxin Road, Weiyang District, Xian, 710068, , China |
|
Date of Appointment : |
07.10.2014 |
|
DIN No.: |
06990744 |
KEY EXECUTIVES
|
Name : |
Mr. Manmohan |
|
Designation : |
Senior Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Weisen Liang |
|
1 |
|
Guangxi Liugonu Machinery Company Limited, China |
|
111946870 |
|
Total |
|
111946871 |
As on: 09.01.2015
|
Names of Allottee |
|
No. of Shares |
|
Guangxi Liugonu Machinery Company Limited, China |
|
90215455 |
|
Total |
|
90215455 |
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 |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Trader, Exporter and Importer of construction equipments
such as CLG - 835, CLG - 856, CLG - 414 etc. |
||||
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|
Products : |
|
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|
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|
Brand Names : |
Not Available |
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|
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Agencies Held : |
Not Available |
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|
||||
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Exports : |
|
||||
|
Products : |
Finished Goods |
||||
|
Countries : |
|
||||
|
|
|
||||
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Imports : |
|
||||
|
Products : |
Raw Material / Finished Goods |
||||
|
Countries : |
|
||||
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|
|
||||
|
Terms : |
|
||||
|
Selling : |
L/C, Cash and Credit |
||||
|
|
|
||||
|
Purchasing : |
L/C, Cash and Credit |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
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|
|
||||||||||||||||||||||
|
Customers : |
Wholesalers, Retailer and Manufacturer
|
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|
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|
No. of Employees : |
60 (Approximately) |
||||||||||||||||||||||
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|
Bankers : |
|
||||||||||||||||||||||
|
|
|
|
|
|
|
Auditors : |
|
|
Name : |
G. Singh and Company Chartered Accountants |
|
Address : |
10, 3rd Floor, Satya Niketan, New Delhi - 110021, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAHFG4905H |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Holding Company: |
|
CAPITAL STRUCTURE
After 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
205000000 |
Equity Shares |
Rs.10/- each |
Rs. 2050.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
202162326 |
Equity Shares |
Rs.10/- each |
Rs. 2021.623
Million |
|
|
|
|
|
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
205000000 |
Equity Shares |
Rs.10/- each |
Rs. 2050.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
111946871 |
Equity Shares |
Rs.10/- each |
Rs. 1119.469
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 |
1119.469 |
1119.469 |
1119.469 |
|
(b) Reserves & Surplus |
(491.903) |
(352.528) |
(201.050) |
|
(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) |
627.566 |
766.941 |
918.419 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
3.830 |
4.830 |
5.330 |
|
(d) long-term
provisions |
7.926 |
7.379 |
6.780 |
|
Total Non-current
Liabilities (3) |
11.756 |
12.209 |
12.110 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
1218.139 |
1130.821 |
1139.648 |
|
(c) Other
current liabilities |
25.291 |
28.564 |
23.543 |
|
(d) Short-term
provisions |
22.617 |
17.921 |
23.424 |
|
Total Current
Liabilities (4) |
1266.047 |
1177.306 |
1186.615 |
|
|
|
|
|
|
TOTAL |
1905.369 |
1956.456 |
2117.144 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
484.409 |
542.273 |
529.512 |
|
(ii)
Intangible Assets |
1.017 |
1.497 |
2.065 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
31.887 |
|
(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) |
258.259 |
151.694 |
81.411 |
|
(d) Long-term Loan and Advances |
12.027 |
11.115 |
9.848 |
|
(e) Other
Non-current assets |
34.578 |
38.577 |
30.596 |
|
Total Non-Current
Assets |
790.290 |
745.156 |
685.319 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
678.965 |
591.650 |
800.035 |
|
(c) Trade
receivables |
165.570 |
294.280 |
201.162 |
|
(d) Cash
and cash equivalents |
135.032 |
210.413 |
282.875 |
|
(e)
Short-term loans and advances |
133.379 |
111.890 |
143.362 |
|
(f) Other
current assets |
2.133 |
3.067 |
4.391 |
|
Total
Current Assets |
1115.079 |
1211.300 |
1431.825 |
|
|
|
|
|
|
TOTAL |
1905.369 |
1956.456 |
2117.144 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
810.887 |
861.005 |
|
|
|
Other Income |
33.921 |
25.484 |
|
|
|
TOTAL
|
844.808 |
886.489 |
866.100 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Exceptional Item (Exchange
Variation) |
96.928 |
70.382 |
74.383 |
|
|
Other expenses |
937.170 |
979.008 |
898.023 |
|
|
TOTAL
|
1034.098 |
1049.390 |
972.406 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
(189.290) |
(162.901) |
(106.306) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.294 |
0.230 |
1.066 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(189.584) |
(163.131) |
(107.372) |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
56.354 |
58.630 |
60.857 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(245.938) |
(221.761) |
(168.229) |
|
|
|
|
|
|
|
Less |
TAX |
(106.563) |
(70.283) |
(51.204) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(139.375) |
(151.478) |
(117.025) |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(352.529) |
(201.051) |
(84.026) |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
(491.904) |
(352.529) |
(201.051) |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
(1.24) |
(1.35) |
(1.04) |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
N.A |
N.A |
N.A |
|
Cash generated from operations |
N.A |
N.A |
N.A |
|
Net cash flow from operating activity |
(245.940) |
(221.761) |
0.000 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(17.19) |
(17.59) |
N.A |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
(23.34) |
(18.92) |
N.A |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(14.93) |
(12.29) |
(8.40) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.39) |
(0.29) |
(0.18) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.88 |
1.03 |
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 |
1119.469 |
1119.469 |
1119.469 |
|
Reserves & Surplus |
(201.050) |
(352.528) |
(491.903) |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
918.419 |
766.941 |
627.566 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Total Income |
866.100 |
861.005 |
810.887 |
|
|
|
(0.588) |
(5.821) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Total Income |
866.100 |
861.005 |
810.887 |
|
Profit |
(117.025) |
(151.478) |
(139.375) |
|
|
(13.51)% |
(17.59)% |
(17.19)% |
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 |
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 |
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) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
Yes |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
No |
|
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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
OPERATIONS
The slowdown in construction equipment industry which started in 2011 continued in the financial year 2013 14.The company has achieved a turnover of Rs.810.887 Million during this financial year compared to previous year of Rs. 861.005 Million, showing a decline of 6% as compared to of previous year.
The result reflects the negative industry sentiments in CE segment in the country during the year. The Year 2013- 14 was another challenging year for the CE Industry and company, arising from host of the macro-economic factors. The economy witnessed a static GDP. but delay , uncertainty in clearance of infrastructure projects compounded by rising interest, slowdown in infrastructure sector ,bans in mining sector put pressure on customers and that adversely impacted the demand.
A sharp rise in USD rates has impacted the company costs and profitability adversely during the year. The company has chalked a comprehensive future plan for localization of components and assemblies to minimize the exchange rate adverse impacts on the profitability of the company.
PITHAMPUR PLANT
Company’s manufacturing plant at Plot No. 163, Industrial Area, Sector-3, Pithampur in Dhar District. (M.P) if fully operational and manufacturing 3 Ton and 5 Ton class Front End Wheel Loaders, Motor Grader CLG 414 during the year under operation . Company’s machine has been received well in the market and the company is able to establish a good market share in Wheel Loader segment in the country .
During the year under operation Company launched new variants in 3 Ton and 5 Ton class loaders. Your company is engaged in a very sound R&D program and a new 2 Ton Loader is under R&D testing , which may be launched in the near future for commercial sale in Indian Market.
All of company machine models BS III pollution norms compliant and are awarded ISO 9001: 2008 for Q.M.S in field of design, manufacturing and trading of Earthmoving Construction Equipment and spare parts.
NOTE: Registered office of the company has been shifted from No.64, 3rd Floor, Okhla Industrial Phase III, New Delhi - 110020, India to the present address w.e.f. 01.11.2013
INDEX OF CHARGES: NO
CHARGES EXIST FOR THE COMPANY
FIXED ASSETS
- Land
- Buildings
- Office Building
- Factory Building
- Plant and Equipment
- Factory Equipments
- Furniture and Fixtures
- Vehicles
- Motor Vehicles
- 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.64.88 |
|
|
1 |
Rs.99.88 |
|
Euro |
1 |
Rs.72.06 |
INFORMATION DETAILS
|
Information Gathered
by : |
DIP |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
RKI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
30 |
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.