MIRA INFORM REPORT
|
Report No. : |
339861 |
|
Report Date : |
05.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
PRADIP POLYFILS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Post Box No. 69, NIF Compound, Chhapra Road, Navsari – 369445, Gujarat |
|
Tel. No.: |
91-2637-258668 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
16.11.1987 |
|
|
|
|
Com. Reg. No.: |
010143 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.33.600 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25209GJ1987PTC010143 |
|
|
|
|
IEC No.: |
5296002539 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCP7172J |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
The company engaged into manufacturing of polypropylene filter plates
and its accessories. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
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|
|
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Litigation : |
Clear |
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|
Comments : |
Subject was incorporated on 1987, is a Gujarat based company engaged into
manufacturing of polypropylene filter plates used in filter press machines.
It is established company having a satisfactory track. The rating on company reflects experienced management in manufacturing
of polypropylene filter plates business, ling track record of the company
backed by healthy financials risk profile marked by decent networth and
comfortable debt coverage indicators. However, rating is constrained on moderate scale of operations with declined
revenue reflected in operating income in FY 2014. Trade relations are reported as fair. Business is active. Payment
terms are reported to be usually correct. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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
31-03-2013.
INFORMATION DENIED BY
|
Name : |
Mr. Vipul Shah |
|
Designation : |
Export Executive |
|
Contact No.: |
91-2637-258668 |
|
Date : |
04.09.2015 |
LOCATIONS
|
Registered Office / Factory: |
Post Box No. 69, NIF Compound, Chhapra Road, Navsari – 369445, Gujarat, India |
|
Tel. No.: |
91-2637-258668 / 250667 |
|
Fax No.: |
91-2637-259182 |
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E-Mail : |
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|
Website : |
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|
Branch Office : |
New Delhi, India |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Vijay Ratilal Kansara |
|
Designation : |
Managing Director |
|
Address : |
21, Sunder Nagar, Jamalpore, Navsari - 396445, Gujarat, India |
|
Date of Birth/Age : |
22.11.1961 |
|
Date of Appointment : |
16.11.1987 |
|
DIN No.: |
00105884 |
|
|
|
|
Name : |
Ramesh Pranjivandas Kansara |
|
Designation : |
Director |
|
Address : |
502, Lakeview Appartment, Dudhia Talav, Arvind Marg, Navsari - 396445, Gujarat, India |
|
Date of Birth/Age : |
03.05.1939 |
|
Date of Appointment : |
16.11.1987 |
|
DIN No.: |
00107031 |
|
|
|
|
Name : |
Shailesh Ratilal Kansara |
|
Designation : |
Director |
|
Address : |
25, Sunder Nagar, Jamalpore, Navsari - 396445, Gujarat, India |
|
Date of Birth/Age : |
26.12.1957 |
|
Date of Appointment : |
16.11.1987 |
|
DIN No.: |
00106854 |
|
|
|
|
Name : |
Pradip Ratilal Kansara |
|
Designation : |
Director |
|
Address : |
24, Sunder Nagar, Jamalpore, Navsari - 396445, Gujarat, India |
|
Date of Birth/Age : |
12.09.1955 |
|
Date of Appointment : |
16.11.1987 |
|
DIN No.: |
00106796 |
|
|
|
|
Name : |
Ketan Hasmukh Kansara |
|
Designation : |
Director |
|
Address : |
27, Sunder Nagar, Jamalpore, Navsari - 396445, Gujarat, India |
|
Date of Birth/Age : |
10.08.1969 |
|
Date of Appointment : |
16.11.1987 |
|
DIN No.: |
00106912 |
|
|
|
|
Name : |
Anup Ramesh Kansara |
|
Designation : |
Director |
|
Address : |
22, Sunder Nagar, Jamalpore, Navsari - 396445, Gujarat, India |
|
Date of Birth/Age : |
06.10.1982 |
|
Date of Appointment : |
01.04.2011 |
|
DIN No.: |
01510191 |
|
|
|
|
Name : |
Amit Dineshbhai Kansara |
|
Designation : |
Director |
|
Address : |
22, Sundar Nagar Soc,, At Po Jamalpore, Navsari - 396445, Gujarat, India |
|
Date of Birth/Age : |
12.12.1978 |
|
Date of Appointment : |
01.04.2011 |
|
DIN No.: |
03498323 |
|
|
|
|
Name : |
Mrunal Jayeshbhai Kansara |
|
Designation : |
Director |
|
Address : |
23, Sunder Nagar,, Jamalpore, Navsari - 396445, Gujarat, India |
|
Date of Birth/Age : |
11.05.1987 |
|
Date of Appointment : |
01.04.2011 |
|
DIN No.: |
03498338 |
KEY EXECUTIVES
|
Name : |
Mr. Vipul Shah |
|
Designation : |
Export Executive |
|
|
|
|
Name : |
S. Swaminathan and Associates |
|
Designation : |
Company Secretaries |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
Shareholders details file attached.
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company engaged into manufacturing of polypropylene filter plates
and its accessories. |
|
|
|
|
Products : |
Polypropylene filter plates and its accessories. |
|
|
|
|
Brand Names : |
Not Divulged |
|
|
|
|
Agencies Held : |
Not Divulged |
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|
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|
Exports : |
Not Divulged |
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|
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Imports : |
Not Divulged |
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|
|
|
Terms : |
Not Divulged |
PRODUCTION STATUS AS ON 31.03.2014
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Polypropylene filter plates and its accessories |
MT |
-- |
1300 |
755.50 |
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 : |
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Facilities : |
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Auditors : |
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|
Name : |
JMN Associates Chartered Accountants |
|
Address : |
JMN House, Opp. Bombay house, Navsari – 396445, Gujarat, India |
|
Tel. No.: |
91-2637-250232 |
|
Fax No.: |
91-2637-247402 |
|
PAN No.: |
AAFPN6954R |
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E-Mail : |
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Memberships : |
--- |
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|
|
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Collaborators : |
-- |
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Associates: |
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|
Key management personnel |
|
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3,500,000 |
Equity Shares |
Rs.10/- each |
Rs.35.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3,360,000 |
Equity Shares |
Rs.10/- each |
Rs.33.600 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 |
33.600 |
33.600 |
33.600 |
|
(b) Reserves &
Surplus |
107.365 |
86.466 |
45.342 |
|
(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) |
140.965 |
120.066 |
78.942 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
32.475 |
37.597 |
28.023 |
|
(b) Deferred tax
liabilities (Net) |
2.557 |
2.337 |
1.358 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
35.032 |
39.934 |
29.381 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
44.558 |
25.167 |
19.628 |
|
(b) Trade payables |
58.045 |
71.447 |
41.584 |
|
(c) Other current
liabilities |
51.634 |
59.757 |
23.376 |
|
(d) Short-term provisions |
18.319 |
10.757 |
24.272 |
|
Total Current Liabilities
(4) |
172.556 |
167.128 |
108.860 |
|
|
|
|
|
|
TOTAL |
348.553 |
327.128 |
217.183 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
120.357 |
93.467 |
51.212 |
|
(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 |
0.963 |
1.048 |
0.866 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
121.320 |
94.515 |
52.078 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
64.387 |
62.667 |
48.228 |
|
(c) Trade receivables |
91.698 |
114.006 |
71.347 |
|
(d) Cash and cash
equivalents |
16.968 |
12.495 |
15.295 |
|
(e) Short-term loans and
advances |
54.180 |
43.445 |
30.235 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
227.233 |
232.613 |
165.105 |
|
|
|
|
|
|
TOTAL |
348.553 |
327.128 |
217.183 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
260.397 |
326.257 |
229.956 |
|
|
Other Income |
0.933 |
0.857 |
1.968 |
|
|
TOTAL |
261.330 |
327.114 |
231.924 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
TOTAL |
185.972 |
226.264 |
179.805 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
75.358 |
100.850 |
52.119 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
16.006 |
11.510 |
2.613 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
59.352 |
89.340 |
49.506 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
22.302 |
15.427 |
10.635 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
37.050 |
73.913 |
38.871 |
|
|
|
|
|
|
|
Less |
TAX |
12.220 |
24.978 |
12.562 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
24.830 |
48.935 |
26.309 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
85.989 |
44.864 |
28.318 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Dividend |
3.360 |
6.720 |
8.400 |
|
|
Tax on Dividend |
0.571 |
1.090 |
1.363 |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S |
106.888 |
85.989 |
44.864 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
229.435 |
265.618 |
212.771 |
|
|
TOTAL EARNINGS |
229.435 |
265.618 |
212.771 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
76.726 |
108.420 |
95.350 |
|
|
Stores parts |
34.915 |
40.225 |
15.818 |
|
|
TOTAL IMPORTS |
111.641 |
148.645 |
111.168 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
7.39 |
14.56 |
-- |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current
Maturities of Long term debt |
|
|
|
|
Canara Bank (Machinery Term Loan) |
1.138 |
1.289 |
1.446 |
|
Canara Bank (Machinery Term Loan) |
1.797 |
0.845 |
0.583 |
|
Canara Bank (Machinery Term Loan) |
4.530 |
4.795 |
0.100 |
|
Canara Bank T/L (Indigo Manza) |
0.138 |
0.122 |
0.000 |
|
Canara Bank T/L (Skoda) |
0.837 |
0.736 |
0.000 |
|
Canara Bank T/L (Mahindra XUV 500 W8) |
0.408 |
0.360 |
0.000 |
|
Total |
8.848 |
8.147 |
2.129 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flow from |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
9.54 |
15.00 |
11.44 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
28.94 |
30.91 |
22.66 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.63 |
22.59 |
17.90 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.26 |
0.62 |
0.49 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.61 |
0.59 |
0.63 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.32 |
1.39 |
1.52 |
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 |
33.600 |
33.600 |
33.600 |
|
Reserves & Surplus |
45.342 |
86.466 |
107.365 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
78.942 |
120.066 |
140.965 |
|
|
|
|
|
|
long-term borrowings |
28.023 |
37.597 |
32.475 |
|
Short term borrowings |
19.628 |
25.167 |
44.558 |
|
Current maturities of
long term debt |
2.129 |
8.147 |
8.848 |
|
Total borrowings |
49.780 |
70.911 |
85.881 |
|
Debt/Equity ratio |
0.631 |
0.591 |
0.609 |
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 |
229.956 |
326.257 |
260.397 |
|
|
|
41.878 |
(20.187) |
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 |
229.956 |
326.257 |
260.397 |
|
Profit |
26.309 |
48.935 |
24.830 |
|
|
11.44% |
15.00% |
9.54% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
---- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
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 |
Yes |
|
19 |
Major customers |
Yes |
|
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 |
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Loans from shareholders and relatives |
|
|
|
P. J. Kansara (HUF) |
20.000 |
20.000 |
|
Short-term
borrowings |
|
|
|
Loans and advances from related parties |
|
|
|
Pranjivandas J. Kansara HUF |
19.429 |
18.959 |
|
Ratubhai Kansara HUF |
0.162 |
0.054 |
|
Ramesh Kansara HUF |
0.000 |
0.190 |
|
Satyadev Kansara HUF |
0.162 |
0.054 |
|
Hasmukh Kansara HUF |
0.000 |
0.250 |
|
Total |
39.753 |
39.507 |
CONTINGENT
LIABILITIES NOT PROVIDED IN THE BOOKS OF ACCOUNT
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Foreign bills discounted |
6.188 |
Nil |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
80008958 |
26/11/2014 * |
133,508,000.00 |
CANARA BANK |
MAIN BRANCH, NAVSARI, NAVSARI, GUJARAT - 396445, |
C37001963 |
* Date of charge modification
BUSINESS PERFORMANCE
During the year, the turnover of the company
has decreased to Rs.260.397 Million against Rs.326.257 Million in the previous year,
representing decreased of Rs.20.18% due to recessionary conditions.
During the financial year 2013-2014, the
company’s net profit after depreciation and tax is 24.830 Million as against
Rs.48.935 Million in financial year 2012-2013. The decrease in profit is mainly
due to decrease in turnover by 20.18% as compared to last financial year.
Further, there was no material change required
to be reported from the closure of the FY till date of this report.
FIXED ASSETS
- Factory building
- Plant and machinery
- Dies and Equipment
- Electrification account
- Office equipment
- Furniture and Fixtures
- Accessories and equipment
- Computer
- Software development
- Vehicle
- Motor car
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.40 |
|
|
1 |
Rs.101.19 |
|
Euro |
1 |
Rs.73.89 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
4 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
43 |
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.