MIRA INFORM REPORT
|
Report No. : |
341099 |
|
Report Date : |
18.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
FILATEX FASHIONS LIMITED (w.e.f. 23.08.2006) |
|
|
|
|
Formerly Known
As : |
UNI SOCKS INDIA LIMITED |
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Registered
Office : |
My Fair Gardens, 8-2-682/3/A and 3B Flat No. 201, 2nd Floor, Road No. 12, Banjara Hills, Hyderabad – 500034, Telangana |
|
Tel. No.: |
91-40-66748930 |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 (Profit and Loss) |
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|
|
|
Date of
Incorporation : |
08.03.1994 |
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|
|
|
Com. Reg. No.: |
36-017158 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs.69.022 Million |
|
|
|
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CIN No.: [Company Identification
No.] |
L51491TG1994PLC017158 |
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IEC No.: |
Not Available |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
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PAN No.: [Permanent Account No.] |
AABCF0122A |
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|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Manufacturer of Branded socks. |
|
|
|
|
No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (31) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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|
Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. The Company has reported decrease in its sales turnover and net profit
in FY 2015. Further, company has adequate networth base along with acceptable
gearing in FY 2014. Trade relations are fair. Business is active. Payment terms are
reported to be slow but correct. The company can be considered for business dealings with some caution. Note: Balance Sheet of FY 2015 is not available from any sources. |
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
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
|
Name : |
Mr. Prabhat Sethia |
|
Designation : |
Director |
|
Contact No.: |
91-9966459705 |
|
Date : |
15.09.2015 |
LOCATIONS
|
Registered Office / Factory : |
My Fair Gardens, 8-2-682/3/A and 3B Flat No. 201, 2nd Floor, Road No. 12, Banjara Hills, Hyderabad – 500034, Telangana, India |
|
Tel. No.: |
91-40-66748930 |
|
Mobile No.: |
91-9966459705 (Mr. Prabhat Sethia) |
|
Fax No.: |
91-40-66748931 |
|
E-Mail : |
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|
Website : |
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|
Location : |
Owned |
|
Locality : |
Industrial |
DIRECTORS
As on 31.03.2015
|
Name : |
Mr. Prabhat Sethia |
|
Designation : |
Managing Director |
|
Address : |
Royal Heritage Apartment, 8-3-1006/A, Plot No. 9, Flat No. 1s, Srinagar Colony, Hyderabad - 500034, Telangana, India |
|
Date of Birth/Age : |
26.01.1948 |
|
Date of Appointment : |
08.03.1994 |
|
DIN No.: |
00699415 |
|
|
|
|
Name : |
Mr. Sanjay Ishwarlal Bora |
|
Designation : |
Director |
|
Address : |
Flat No 18 , Ashwini Co Op Housing Society, Jai Bhavani Road, Nashik - 422007, Maharashtra, India |
|
Date of Birth/Age : |
04.12.1961 |
|
Date of Appointment : |
30.01.2009 |
|
DIN No.: |
02470629 |
|
|
|
|
Name : |
Mr. Raghu Raj |
|
Designation : |
Director |
|
Address : |
6-3-890 Flt 204, Somajiguda, Hyderabad - 500082, Telangana, India |
|
Date of Birth/Age : |
30.7.1934 |
|
Date of Appointment : |
22.01.2003 |
|
DIN No.: |
03279185 |
|
|
|
|
Name : |
Nortan Bothra |
|
Designation : |
Director |
|
Address : |
8-2-682/3/A, 201, Mayfair Garden, Road No. 12, Banjara Hills, Hyderabad - 500034, Telangana, India |
|
Date of Birth/Age : |
30.09.1995 |
|
Date of Appointment : |
03.09.1998 |
|
DIN No.: |
03544872 |
SHAREHOLDING PATTERN
As on 30.06.2015
|
Category of Shareholder |
Total No. of Shares |
Total Shareholding as a % of Total No. of Shares |
|
(A) Shareholding
of Promoter and Promoter Group |
||
|
|
|
|
|
|
1426130 |
4.91 |
|
|
1426130 |
4.91 |
|
|
|
|
|
Total
shareholding of Promoter and Promoter Group (A) |
1426130 |
4.91 |
|
(B) Public
Shareholding |
||
|
|
|
|
|
|
|
|
|
|
9862571 |
33.95 |
|
|
|
|
|
Individual shareholders holding nominal share capital up to Rs.0.100
Million |
4143740 |
14.26 |
|
Individual shareholders holding nominal share capital in excess of
Rs.0.100 Million |
13247282 |
45.59 |
|
|
374822 |
1.29 |
|
|
334879 |
1.15 |
|
|
39943 |
0.14 |
|
|
27628415 |
95.09 |
|
Total Public
shareholding (B) |
27628415 |
95.09 |
|
Total (A)+(B) |
29054545 |
100.00 |
|
(C) Shares held by
Custodians and against which Depository Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total
(A)+(B)+(C) |
29054545 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Branded socks. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
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Selling : |
Cash and Credit (30/60/90 Days) |
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Purchasing : |
Cash and Credit (30/60/90 Days) |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
End Users and OEMs
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No. of Employees : |
100 (Approximately) |
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Bankers : |
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Facilities : |
(Rs.
In Million)
|
|
Financial Institution : |
Siemens Financial Services Private Limited, 130, Pandurang Budhkar
Marg, Worli, Mumbai – 400018, Maharashtra, India |
|
|
|
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Auditors : |
|
|
Name : |
N G Rao And Associates Chartered Accountant |
|
Address : |
House No 6-3-1186/A/6, Chinna Balreddy Building II Floor Adj., Lane To Grand Kakatiya, Hotel Begumpet, Hyderabad – 500016, Telangana, India |
|
PAN No.: |
AAEFN7234M |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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|
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
After 30.12.2014
Authorised Capital: Rs.146.000 Million
Issued, Subscribed & Paid-up Capital: Rs.145.272 Million
As on 31.03.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
16000000 |
Equity Shares |
Rs.5/- each |
Rs.80.000 Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
13804545 |
Equity Shares |
Rs.5/- each |
Rs.69.022
Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2014 |
31.03.2013 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
69.022 |
69.022 |
|
(b) Reserves &
Surplus |
|
112.681 |
111.483 |
|
(c) Money received
against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
0.000 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
|
181.703 |
180.505 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
39.142 |
33.617 |
|
(b) Deferred tax
liabilities (Net) |
|
0.710 |
0.710 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
39.852 |
34.327 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
0.000 |
0.000 |
|
(b) Trade payables |
|
352.275 |
113.333 |
|
(c) Other current
liabilities |
|
35.627 |
32.106 |
|
(d) Short-term provisions |
|
0.000 |
0.000 |
|
Total Current Liabilities
(4) |
|
387.902 |
145.439 |
|
|
|
|
|
|
TOTAL |
|
609.457 |
360.271 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
49.225 |
54.785 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
13.500 |
13.500 |
|
(iv) Intangible assets
under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
20.324 |
20.325 |
|
(e) Other Non-current
assets |
|
16.479 |
16.479 |
|
Total Non-Current Assets |
|
99.528 |
105.089 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
47.722 |
37.542 |
|
(c) Trade receivables |
|
456.921 |
214.599 |
|
(d) Cash and cash
equivalents |
|
5.286 |
3.041 |
|
(e) Short-term loans and
advances |
|
0.000 |
0.000 |
|
(f) Other current assets |
|
0.000 |
0.000 |
|
Total Current Assets |
|
509.929 |
255.182 |
|
|
|
|
|
|
TOTAL |
|
609.457 |
360.271 |
Note: Balance Sheet of
FY 2015 is not available from any sources.
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
SALES |
|
|
|
|
|
Income |
249.032 |
258.044 |
387.025 |
|
|
Other Income |
0.141 |
0.141 |
0.062 |
|
|
TOTAL |
249.173 |
258.185 |
387.087 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
205.144 |
236.745 |
362.758 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
23.759 |
(1.237) |
(0.502) |
|
|
Employees benefits
expense |
4.306 |
3.233 |
3.223 |
|
|
Other expenses |
7.182 |
10.254 |
8.441 |
|
|
TOTAL |
240.391 |
248.995 |
373.920 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
8.782 |
9.190 |
13.167 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
0.739 |
1.343 |
6.344 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX,
DEPRECIATION AND AMORTISATION |
8.043 |
7.847 |
6.823 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
6.703 |
6.649 |
6.216 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
1.340 |
1.198 |
0.607 |
|
|
|
|
|
|
|
Less |
TAX |
0.400 |
0.000 |
1.135 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
0.940 |
1.198 |
(0.528) |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
0.06 |
0.08 |
(0.03) |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
NA |
(0.847) |
13.167 |
QUARTERLY RESULTS
(Rs.
In Million)
|
Particulars
(Unaudited) |
30.06.2015 |
|
1st Quarter |
|
|
Net Sales |
84.340 |
|
Total Expenditure |
81.730 |
|
PBIDT (Excl OI) |
2.610 |
|
Other Income |
0.000 |
|
Operating Profit |
2.610 |
|
Interest |
0.360 |
|
Exceptional Items |
0.000 |
|
PBDT |
2.250 |
|
Depreciation |
1.500 |
|
Profit Before Tax |
0.750 |
|
Tax |
0.000 |
|
Provisions and contingencies |
0.000 |
|
Profit After Tax |
0.750 |
|
Extraordinary Items |
0.000 |
|
Prior Period Expenses |
0.000 |
|
Other Adjustments |
0.000 |
|
Net Profit |
0.750 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT/Sales) |
(%) |
0.38 |
0.46 |
0.16 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT / Sales) |
(%) |
3.53 |
3.56 |
3.40 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA |
0.20 |
0.18 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA |
0.01 |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
NA |
0.22 |
0.19 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
NA |
1.31 |
1.75 |
STOCK
PRICES
|
Face Value |
Rs.5.00/- |
|
Market Value |
Rs.9.41/- (BSE) |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
69.022 |
69.022 |
|
Reserves & Surplus |
111.483 |
112.681 |
|
Net worth |
180.505 |
181.703 |
|
|
|
|
|
long-term borrowings |
33.617 |
39.142 |
|
Short term borrowings |
0.000 |
0.000 |
|
Total borrowings |
33.617 |
39.142 |
|
Debt/Equity ratio |
0.186 |
0.215 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
387.025 |
258.044 |
249.032 |
|
|
|
(33.326) |
(3.492) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
387.025 |
258.044 |
249.032 |
|
Profit |
(0.528) |
1.198 |
0.940 |
|
|
(0.14%) |
0.46% |
0.38% |
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 |
Yes |
|
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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2015 |
As
on 31.03.2014 |
|
LONG TERM
BORROWING |
|
|
|
Intercorporate borrowings |
NA |
37.653 |
|
Total |
NA |
37.653 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10378219 |
07/08/2012 |
15,668,240.00 |
SIEMENS FINANCIAL SERVICES PRIVATE LIMITED |
130, PANDURANG BUDHKAR MARG, WORLI, MUMBAI - 400018, MAHARASHTRA, INDIA |
B58788407 |
|
2 |
10246957 |
09/09/2010 |
6,500,000.00 |
PUNJAB NATIONAL BANK |
JAY APPARTMENTS,
LINKING ROAD, SANTACRUZ (WEST), |
A97140172 |
|
3 |
90115515 |
10/07/1997 |
1,000,000.00 |
ICICI BANKING CORPORATION LIMITED |
OPP. INSTITUTIONOF ENGINEERS KHAIRATABAD, HYDERABAD, DELHI - 500004, INDIA |
- |
* Date of charge modification
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 30TH JUNE
2015
(Rs. In Million)
|
Particulars |
Quarter ended |
|
|
30.06.2015 |
|
Income
from operations |
|
|
Net sales/ Income from operation (net of excise duty) |
84.339 |
|
Other operating income |
0.000 |
|
Total
income from Operations(net) |
84.339 |
|
Expenditure |
|
|
Increase / Decrease in stock in trade and work in progress |
0.113 |
|
Consumption of raw materials |
78.998 |
|
Employees benefit expenses |
0.758 |
|
Depreciation and amortization expenses |
1.500 |
|
Other expenditure |
1.865 |
|
Total expenses |
83.234 |
|
Profit
from operations before other income and financial costs |
1.105 |
|
Other income |
0.000 |
|
Profit from
ordinary activities before finance costs |
1.105 |
|
Finance costs |
0.360 |
|
Profit from
ordinary activities before tax Expense: |
0.745 |
|
Tax expenses |
0.000 |
|
Net Profit / (Loss)
from ordinary activities after tax (9-10) |
0.745 |
|
Paid-up equity share capital (Nominal value Rs.5/- per share) |
59.500 |
|
Reserve excluding Revaluation Reserves as per balance sheet of previous accounting year |
112.681 |
|
Earnings per share (before extraordinary items) of Rs.10/- each) (not annualized): |
|
|
Basic and diluted |
0.06 |
|
A.
Particulars of shareholding |
|
|
1.
Public Shareholding |
|
|
- Number of shares |
8785420 |
|
- Percentage of shareholding |
73.83% |
Note:
- The above results were taken on record by the board of directors at their meeting held on 14.08.2015.
- The company has received nil investor complaints during the quarter ended 30.06.2015.
FIXED ASSETS
- Land
- Buildings
- Plant and Equipment
- Factory Equipments
- Furniture and Fixtures
- Vehicles
- Office Equipment
- 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 records 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 paymets 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.66.50 |
|
|
1 |
Rs.101.99 |
|
Euro |
1 |
Rs.75.02 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
PNM |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
31 |
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.