MIRA INFORM REPORT

 

 

Report No. :

340238.2

Report Date :

12.09.2015

 

IDENTIFICATION DETAILS

 

Name :

GLOBE STEELS PRIVATE LIMITED

 

 

Registered Office :

C5, Industrial Estate, Ambattur, Chennai – 600058, Tamilnadu

Tel. No.:

91-44-26257561

 

 

Country :

India

 

 

Financials (as on) :

31.03.2013

 

 

Date of Incorporation :

19.09.1986

 

 

Com. Reg. No.:

18-013424

 

 

Capital Investment / Paid-up Capital :

Rs.15.000 Million

 

 

CIN No.:

[Company Identification No.]

U27104TN1986PTC013424

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

CHEG004304D

 

 

PAN No.:

[Permanent Account No.]

AAACG2048M

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer of Cold Finished Bright and Centerless Peeled and Ground Bars.

 

 

No. of Employees :

130 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (44)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 320000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having moderate track.

 

As per registrar of companies the date of balance sheet (i.e. Financial field) is shown as 31.03.2014 but documents related to financial for the year ending 2014 is not available from any source.

 

However, Rating takes into consideration sound financial risk profile of the company marked by adequate networth base and comfortable gearing in FY13.

 

Management has reported significant increase in its net profit in the year under consideration.

 

Trade relations are fair. Business is active. Payment terms are reported to be slow but correct.

 

In view of long track record of operations, the company can be considered for business dealings with usual trade terms and conditions.

 

In downloading the subject company’s 2014 balance sheet not available.

 

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

Fund based facility : BB-

Rating Explanation

Inadequate credit quality and high credit risk.

Date

July 2014

 

 

Rating Agency Name

ICRA

Rating

Non -fund based facility : A4

Rating Explanation

Minimal degree of safety and very high credit risk.

Date

July 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 PARTED BY

 

Name :

Mr. Mohan S

Designation :

Finance Manager

Contact No.:

91-44-26257561

Date :

11.09.2015

 

 

LOCATIONS

 

Registered Office / Factory 1 :

C5, Industrial Estate, Ambattur, Chennai – 600058, Tamilnadu, India

Tel. No.:

91-44-26257561/26231025

Mobile No.:

91-9381038456 (Mr. Shridhar)

Fax No.:

91-44-26231024/26257561

E-Mail :

globesteels@globe-india.com

Website :

www.global-india.com

Area :

30,000 Sq ft

Location :

Owned

Locality:

Industrial

 

 

Factory 2 :

No.6/1,6/2, Vanagaram Main Road, Ayanambakkam, Chennai – 602095, Tamilnadu, India

 

 

Factory 3 :

Maraimalai Nagar, Chennai, Tamilnadu, India

 

 

DIRECTORS

 

AS ON 30.09.2014

 

Name :

Mr. Raghavan Sridhar

Designation :

Whole-time director

Address :

D-9/6, 7th Street, Anna Nagar East, Chennai - 600102, Tamilnadu, India

Date of Appointment :

16.09.1986

DIN No.:

02010733

 

 

Name :

Mr. Padam Modi

Designation :

Whole-time director

Address :

V-53, 12th Cross Street, 6th Main Road,, Anna Nagar,, Chennai - 600040, Tamilnadu, India

Date of Appointment :

16.09.1986

DIN No.:

02468883

 

 

Name :

Mr. Gajanand Modi

Designation :

Whole-time director

Address :

V-53, 12th Cross Street, 6th Main Road,, Anna Nagar,, Chennai - 600040, Tamilnadu, India

Date of Appointment :

16.09.1986

DIN No.:

02468889

 

 

Name :

Rajkumari Modi

Designation :

Whole-time director

Address :

V-28 Old V-1 New V-Block 14th Street, 6th Main Road Annanagar, Chennai, 600040, Tamilnadu, India

Date of Appointment :

03.05.1996

DIN No.:

02476081

 

 

Name :

Kusum Modi

Designation :

Whole-time director

Address :

V 28/4th Cross Street, Anna Nagar,, Chennai - 600040, Tamilnadu, India

Date of Appointment :

03.05.1996

DIN No.:

02476169

 

 

Name :

Mr. Karpagavalli Sridhar

Designation :

Whole-time director

Address :

# 19 IIND ST, Officers Colony, Extn Mogappair, Chennai - 600050, Tamilnadu, India

Date of Appointment :

03.05.1996

DIN No.:

02481759

 

 

Name :

Kalyani Raghavan

Designation :

Director

Address :

Old No :11 New No :19 Officers Colony, Silver Forms Ambattur, Chennai - 600050, Tamilnadu, India

Date of Appointment :

03.05.1996

DIN No.:

02476546

 

 

KEY EXECUTIVES

 

Name :

Mr. Mohan S

Designation :

Finance Manager

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2014

 

Names of Shareholders (Equity Shares)

 

No. of Shares

Padam Modi

S/o.Chagganlal Modi

 

6948

Gajanand Modi

S/o.Chagganlal Modi

 

6950

R. Sridhar

S/o.M .D. Raghavan

 

8147

Rajkumari Modi

W/o.Padam Modi

 

2090

Kusum Modi

W/o.Gajanand Modi

 

2090

Govind Modi

S/o.Padam Modi

 

2525

Vikas Modi

S/o.Padam Modi

 

2475

Raghul Modi

S/o.Gajanand Modi

 

2425

Rohit Modi

S/o.Gajanand Modi

 

2475

Karpagavalli Sridhar

W/o.R. Sridhar

 

2750

R. Srivatsan

S/o.R. Sridhar

 

3400

R. Srikanth

S/o.R. Sridhar

 

3400

M. D. Raghavan

 

250

Chagganlal Modi

 

1980

Kalyani Raghavan

W/o.M. D. Raghavan

 

2090

P. K. Agarwal

 

1

Pawan Kedia

 

1

S.Krishnakumar S/o.

C. D. Sundararamaan

 

1

Suresh L .S S/o.L. S.

Sampath

 

1

Namagiri. S S/o.L. S.

Sampath

 

1

Total

 

50000

 

Names of Shareholders (Preference Shares)

 

No. of Shares

Govind Modi

 

17000

Srivatsan Sridhar

 

17000

Raghul Modi

 

16500

Vikas Modi

 

16500

Rohit Modi

 

16500

Srikanth Sridhar

 

16500

Total

 

100000

 

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 :

Manufacturer of Cold Finished Bright and Centerless Peeled and Ground Bars.

 

 

Products :
  • Cold Finished Bright
  • Centerless Peeled
  • Ground Bars

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

 

Products :

Finished Good

Countries :
  • Dubai
  • Sri Lanka
  • Mexico

 

 

Imports :

 

Products :

Raw Material

Countries :
  • Germany
  • China
  • Spain

 

 

Terms :

 

Selling :

L/C, Cash and Credit

 

 

Purchasing :

L/C, Cash and Credit

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Mukund Limited, Chennai, Tamilnadu, India

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 :

Wholesalers, Retailers and Manufacturer

 

Reference :

Rane (Madras) Limited, Chennai, Tamilnadu, India

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 :

130  (Approximately)

 

 

Bankers :

Canara Bank, Anna Nagar, Madras - 600102, Tamilnadu, India

 

Banker Name

Union Bank of India

Branch Address

120 Feet Road, Chennai, 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 :

(Rs. In Million)

SECURED LOAN

As on

31.03.2013

As on

31.03.2012

LONG TERM BORROWING

 

 

SIDBI Term Loan

(Secured by registered mortgage of Land and Building and Other assets belonging to the company at situated at Plot No. 16, Industrial Estate, Maraimalai Nagar and Land and Building situated at 6/1 and 6/12, Vanagaram Road, Ayanambakkam, Chennai – 600095, Tamilnadu)

42.894

44.893

Gods Account

0.001

0.001

SHORT TERM BORROWING

 

 

Union Bank of India

Open Cash credit

(Hypothecation of stock and book debts secured by mortgage of land and buildings situated C5 and SP-85, Industrial Estate, Ambattur,Personal Guarantee given by director)

84.574

74.440

Total

127.469

119.334

 

Auditors :

 

Name :

S Sankaran and Company

Chartered Accountants

Address :

Flat H, Kulothnngan Apartments, No.5, Dr Natesan Road, Ashok Nagar, Chennai – 600083, Tamilnadu, India

Tel. No.:

91-44-24895341

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

AAOPS3014Q

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Subsidiaries Company   (as on 31.03.2013):

Global Components Private Limited  [U29309TN1996PTC036312]

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2013

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

50000

Equity Shares

Rs.100/- each

Rs. 5.000 Million

100000

Preference Shares

Rs.100/- each

Rs. 10.000 Million

 

 

 

 

 

Total

 

Rs. 15.000 Million

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

50000

Equity Shares

Rs.100/- each

Rs. 5.000 Million

100000

Preference Shares

Rs.100/- each

Rs. 10.000 Million

 

 

 

 

 

Total

 

Rs. 15.000 Million

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

31.03.2013

31.03.2012

31.03.2011

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

15.000

15.000

15.000

(b) Reserves & Surplus

96.237

76.898

65.357

(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)

111.237

91.898

80.357

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

66.278

62.717

12.172

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long term liabilities

3.011

8.934

3.935

(d) long-term provisions

0.000

0.000

0.000

Total Non-current Liabilities (3)

69.289

71.651

16.107

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

84.574

74.440

45.706

(b) Trade payables

70.705

60.841

39.058

(c) Other current liabilities

9.287

5.010

9.456

(d) Short-term provisions

0.000

0.000

0.000

Total Current Liabilities (4)

164.566

140.291

94.220

 

 

 

 

TOTAL

345.092

303.840

190.684

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

170.416

54.353

51.552

(ii) Intangible Assets

0.209

0.209

0.209

(iii) Capital work-in-progress

0.000

45.874

0.000

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

3.000

3.000

3.000

(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

0.000

0.000

0.000

Total Non-Current Assets

173.625

103.436

54.761

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

53.641

36.897

29.309

(c) Trade receivables

90.936

92.114

76.758

(d) Cash and cash equivalents

4.591

11.463

4.677

(e) Short-term loans and advances

13.139

51.192

17.673

(f) Other current assets

9.160

8.738

7.506

Total Current Assets

171.467

200.404

135.923

 

 

 

 

TOTAL

345.092

303.840

190.684

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2013

31.03.2012

31.03.2011

 

SALES

 

 

 

 

Income

NA

NA

NA

 

Other Income

NA

NA

NA

 

TOTAL

NA

NA

NA

 

 

 

 

 

Less

EXPENSES

NA

NA

NA

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

NA

NA

NA

 

 

 

 

 

Less

TAX

NA

NA

NA

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

19.339

11.541

11.728

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

128.93

NA 

NA 

 

 

Particulars

 

 

31.03.2015

31.03.2014

Sales Turnover (Approximately)

 

600.000

540.000

 

Expected Sales (2015-2016) : Rs.700.000 Million

 

The above information has been parted by Mr. Mohan S

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2013

31.03.2012

31.03.2011

Current Maturities of Long term debt

NA

NA

NA

Cash generated from operations

NA

NA

NA

Net cash flows from (used in) operations

NA

NA

NA

 

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2013

31.03.2012

31.03.2011

Debt Equity Ratio

(Total Debt /Networth)

 

1.36

1.49

0.72

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.04

1.43

1.44

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2011

31.03.2012

31.03.2013

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

15.000

15.000

15.000

Reserves & Surplus

65.357

76.898

96.237

Money received against share warrants

0.000

0.000

0.000

 Share Application money pending allotment

0.000

0.000

0.000

Net worth

80.357

91.898

111.237

 

 

 

 

long-term borrowings

12.172

62.717

66.278

Short term borrowings

45.706

74.440

84.574

Total borrowings

57.878

137.157

150.852

Debt/Equity ratio

0.720

1.492

1.356

 

 

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

No

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

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

No

26

Turnover of firm for last two years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

Yes

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

Yes

35

Negative Reporting by Auditors in the Annual Report

No

 

 

FINANCIAL RESULTS: (AS ON 31.03.2013)

 

The net profit after tax of the company has been maintained at the level of last year. The Net profit for the year is Rs. 19.339 Million and of the last year is Rs. 11.541 Million. The Performance is satisfactory in view of the current

economic environment. The company’s new manufacturing unit at Maraimalai Nagar, is working well.

 

FUTURE OUTLOOK: (AS ON 31.03.2013)

 

The directors are confident of achieving much better performance in the years to come.

 

UNSECURED LOAN

 

(Rs. In Million)

Particulars

As on

31.03.2013

As on

31.03.2012

LONG TERM BORROWING

 

 

Due to Directors

 

 

Padam Modi

7.071

5.736

R. Sridhar

8.218

6.048

Gajanand Modi

3.678

2.358

Rajkumari Modi

0.595

0.599

Karpagavalli Sridhar

0.110

0.120

Kusum Modi

0.056

0.067

Kalyani Raghavan

0.918

0.918

Due to Shareholders

 

 

R. Srikanth

0.254

0.254

R. Srivatsan

0.249

0.249

Rohit Modi

0.366

0.177

Vikas Modi

0.380

0.180

P K Agarwal

0.156

0.146

Govind Modi

0.360

0.200

Rahul Modi

0.409

0.209

Krishna Kumar S

0.090

0.090

Namagiri. S

0.044

0.044

Pawan Kedia

0.122

0.122

Chagganlal Modi

0.184

0.183

M. D. Raghavan

0.023

0.023

Rent Advance Received

Globe Components – Rent Advance

0.100

0.100

Total

23.383

17.823

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10286635

24/03/2015 *

94,000,000.00

SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA

SIDBI , OVERSEAS TOWERS 756 L, ANNASALAI, OPP TVS
, CHENNAI, TAMIL NADU - 600002, INDIA

C53969846

2

90308338

23/01/2004

1,088,000.00

INDIA CEMENTS CAPITAL AND FINACE LTD.

38 ; STERLING ROAD ; NUNGAMBAKKAM, CHENNAI, TAMIL
NADU - 600034, INDIA

-

3

90308335

24/12/2002

1,087,500.00

INDIA CEMENTS CAPITAL AND FINACE LTD.

STATUS QUO, 38 ; STERLING ROAD ; NUNGAMBAKKAM, CH
ENNAI, TAMIL NADU - 600034, INDIA

-

4

90308331

11/06/1999

1,393,500.00

INDIA CEMENTS CAPITAL AND FINACE LTD.

ARUNA CENTRE, 145 ; STERLING ROAD ; NUNGAMBAKKAM,
CHENNAI, TAMIL NADU - 600034, INDIA

-

5

90288910

27/07/2015 *

22,327,000.00

UNION BANK OF INDIA

SSI TSK NAGAR BRANCH, R32, TNHB COMMERCIAL COMPLE
X, 120 FEET ROAD, CHENNAI, TAMIL NADU - 600050, IN
DIA

C60744612

6

90307679

06/10/2004 *

17,000,000.00

UNION BANK OF INDIA

S.S.I. BRANCH ; MOGAPPAIR, MADRAS, TAMIL NADU - 60
0050, INDIA

-

7

90308303

30/10/1995

1,600,224.00

ELGI FINANCE LTD.

ELAI HOUSE, TRICHU ROAD, COIMBATORE, TAMIL NADU -
641045, INDIA

-

8

90308276

30/12/1993

166,148.00

GITANUALI FINANCE LTD.

165 ; MINT STREET, MADRAS, TAMIL NADU - 600079, IN
DIA

-

 

* Date of charge modification

 

FIXED ASSETS

 

 

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.66.58

UK Pound

1

Rs.102.29

Euro

1

Rs.74.71

 

 

INFORMATION DETAILS

 

Information Gathered by :

DIP

 

 

Analysis Done by :

KIN

 

 

Report Prepared by :

KVT

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

4

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

--

--BUSINESS SCALE

1~10

5

--PROFITABILITY

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

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

 

44

 

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.