MIRA INFORM REPORT
|
Report No. : |
342132 |
|
Report Date : |
24.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
NEWTRACK COMPUTERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
B-5, Ashatavinayaka Apartment, Ashok Stambha, Nashik - 422013,
Maharashtra |
|
Tel. No.: |
91-253-2578135 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
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|
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Date of
Incorporation : |
09.08.2001 |
|
|
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Com. Reg. No.: |
11-133006 |
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Capital
Investment / Paid-up Capital : |
Rs.1.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72900MH2001PTC133006 |
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|
|
|
IEC No.: |
Not Available |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
NSKN01087C |
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|
|
|
PAN No.: [Permanent Account No.] |
AABCN5921F |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged into trading, dealing and reparing
services of computer and laptops. |
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|
|
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No. of Employees
: |
20 (Approximately) |
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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Litigation : |
Clear |
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|
Comments : |
Subject is an established company incorporated during the year 2001
and is engaged in trading, dealing and reparing services of computer and
laptops. it has satisfactory track. Accordingly to the year 2014 financial, company possesses below average
operational performance with low profit margins. However, rating takes into consideration company’s decent financial
risk profile supported by good networth base and low debt balance sheet
profile of the company. Trade relations are fair. Business is active. Payment terms are
reported as usually correct. The company can be considered for business dealings at usual trade
terms and conditions. Note : The financial figures for FY2012-2013, with reference to provision for
taxation (Directors report) and profitability mentioned in the reserves and
surplus schedule (financial statements) seem to be erroneously reported in
the 10th as well 11th annual report of the company
which couldn’t be rectified as Mr. Magan, the director denied to provide any
clarification about the same. |
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
31-03-2015.
INFORMATION PARTED BY
|
Name : |
Mr. Magan Govind Gangani |
|
Designation : |
Director |
|
Contact No.: |
91-9823070112 |
|
Date : |
21.09.2015 |
LOCATIONS
|
Registered Office : |
B-5, Ashatavinayaka Apartment, Ashok Stambha, Nashik - 422013,
Maharashtra, India |
|
Tel. No.: |
91-253-2578135 |
|
Mobile No.: |
91-9823070112 [Mr. Magan Govind Gangani] |
|
Fax No.: |
91-253-2578135 |
|
E-Mail : |
DIRECTORS
AS ON 07.07.2014
|
Name : |
Mr. Magan Govind Gangani |
|
Designation : |
Director |
|
Address : |
Plot No. 66, Raghukul Bunglow, Makhmalabad Road, Panchvati, Nashik
-422003, Maharashtra, India |
|
Date of Birth/Age : |
02.01.1968 |
|
Date of Appointment : |
19.08.2001 |
|
Din No.: |
00693064 |
|
|
|
|
Name : |
Mr. Lalji Govind Gangani |
|
Designation : |
Director |
|
Address : |
B-5, Ashatavinayaka Apartment, Ashok Stambha, Gangapur Road, Nashik
-422002, Maharashtra, India |
|
Date of Birth/Age : |
03.02.1971 |
|
Date of Appointment : |
19.08.2001 |
|
Din No.: |
00693079 |
|
|
|
|
Name : |
Mr. Mahesh Govind Gangani |
|
Designation : |
Director |
|
Address : |
Plot No. 66, Raghukul Bunglow, Makhmalabad Road, Panchvati,
Nashik-422003, Maharashtra, India |
|
Date of Birth/Age : |
10.12.1979 |
|
Date of Appointment : |
19.08.2001 |
|
Din No.: |
00693096 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 07.07.2014
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Magan Govind Gangani |
29780 |
29.78 |
|
Lalji Govind Gangani |
29780 |
29.78 |
|
Mahesh Govind Gangani |
29780 |
29.78 |
|
Daksha Magan Gangani |
3510 |
3.51 |
|
Kirti Lalji Gangani |
3500 |
3.50 |
|
Daksha Mahesh Gangani |
3650 |
3.65 |
|
|
|
|
|
TOTAL
|
100000 |
100.00 |
AS ON 07.07.2014
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged into trading, dealing and reparing
services of computer and laptops. |
|
|
|
|
Products/ Services: |
Computer and Laptops |
|
|
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Brand Names : |
Not Available |
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Agencies Held : |
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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 days / 60 days / 90 days) |
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Purchasing : |
Cash and Credit (30 days / 60 days / 90 days) |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
20 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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|
Name : |
S.T. Karwa and Company Chartered Accountants |
|
Address : |
340, Laxminarayan Market, Hiralal Lane, Nashik-422001, Maharashtra,
India |
|
Tel. No.: |
91-253-2576643 |
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Mobile No.: |
91-9822077543 |
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E-Mail : |
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PAN No: |
ABBPK7676C |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 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 |
1.000 |
1.000 |
0.522 |
|
(b) Reserves &
Surplus |
13.649 |
12.383 |
10.994 |
|
(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) |
14.649 |
13.383 |
11.516 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
4.366 |
4.934 |
3.971 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(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) |
4.366 |
4.934 |
3.971 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
8.454 |
7.933 |
0.000 |
|
(b) Trade payables |
43.688 |
34.644 |
37.365 |
|
(c) Other current liabilities |
0.662 |
0.672 |
1.280 |
|
(d) Short-term provisions |
0.800 |
0.696 |
0.686 |
|
Total Current Liabilities
(4) |
53.604 |
43.945 |
39.331 |
|
|
|
|
|
|
TOTAL |
72.619 |
62.262 |
54.818 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
0.991 |
1.290 |
1.530 |
|
(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 |
0.025 |
0.025 |
0.025 |
|
(c) Deferred tax assets
(net) |
0.151 |
0.138 |
0.110 |
|
(d) Long-term Loan and Advances |
0.003 |
0.068 |
0.143 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
1.170 |
1.521 |
1.808 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
23.285 |
19.570 |
14.122 |
|
(c) Trade receivables |
42.039 |
37.577 |
35.407 |
|
(d) Cash and cash
equivalents |
5.922 |
3.157 |
2.750 |
|
(e) Short-term loans and
advances |
0.203 |
0.437 |
0.731 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
71.449 |
60.741 |
53.010 |
|
|
|
|
|
|
TOTAL |
72.619 |
62.262 |
54.818 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Trading Sales |
395.877 |
384.219 |
334.305 |
|
|
Other Income |
NA |
NA |
NA |
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
Less |
EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
2.703 |
2.445 |
2.520 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.298 |
0.388 |
0.482 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
2.405 |
2.057 |
2.038 |
|
|
|
|
|
|
|
|
TAX |
0.800 |
0.668 |
0.632 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
1.266 |
1.389 |
1.406 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
12.66 |
13.89 |
26.96 |
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
395.000 |
Expected Sales ( 2015-2016 ) : Rs.670.000 Million (Increase in business
activity)
The above information has been parted by Mr. Magan Govind Gangani (Director).
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current
Maturities of Long Term Borrowings |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flow from (used in) operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin |
(%) |
0.29 |
0.36 |
0.42 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.32 |
3.31 |
3.73 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16 |
0.15 |
0.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.88 |
0.96 |
0.34 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.33 |
1.38 |
1.35 |
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 |
0.522 |
1.000 |
1.000 |
|
Reserves & Surplus |
10.994 |
12.383 |
13.649 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
11.516 |
13.383 |
14.649 |
|
|
|
|
|
|
long-term borrowings |
3.971 |
4.934 |
4.366 |
|
Short term borrowings |
0.000 |
7.933 |
8.454 |
|
Total borrowings |
3.971 |
12.867 |
12.820 |
|
Debt/Equity ratio |
0.345 |
0.961 |
0.875 |
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) |
|
Trading Sales |
334.305 |
384.219 |
395.877 |
|
|
|
14.931 |
3.034 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Trading Sales |
334.305 |
384.219 |
395.877 |
|
Profit |
1.406 |
1.389 |
1.266 |
|
|
0.42% |
0.36% |
0.32% |
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 |
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 four years |
Yes |
|
27 |
Reasons for variation <> 20% |
Yes |
|
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 |
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
|
Particulars |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Other Long Term Loans |
|
|
|
From
Directors |
|
|
|
Magan Govind
Gangani |
1.622 |
1.422 |
|
Lalji Govind Gangani |
0.623 |
1.674 |
|
Mahesh Gangani |
1.401 |
1.207 |
|
From Shareholders |
|
|
|
From Director's Relatives |
|
|
|
Daksha Magan Gangani |
0.245 |
0.245 |
|
Daksha Magan Gangani |
0.100 |
0.000 |
|
Kirti Lalji Gangani |
0.375 |
0.275 |
|
Deferred
Payment Liabilities |
0.000 |
0.000 |
|
Deposits |
0.000 |
0.000 |
|
Short-term
borrowings |
|
|
|
Loans Repayable on Demand |
|
|
|
From related parties |
0.000 |
0.000 |
|
From Shareholders |
0.000 |
0.000 |
|
From Director's
Relatives |
0.000 |
0.000 |
|
Total |
4.366 |
4.823 |
OPERATIONAL AND
FINANCIAL HIGHLIGHTS :
|
Type of Sale /
Financial Year |
2013-14 |
2012-13 |
Increase/(Decrease) |
Diff% |
|
Trading Sales ( Rupees in Million) |
395.877 |
384.219 |
16.658 |
3.03 |
FUTURE PLANS:
Providing quality services to the customers has become essence of the business policy. They are concentrating on recovery of the overdue balances in Debtors.
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10385238 |
15/07/2014 * |
20,000,000.00 |
STATE BANK OF INDIA |
SME BRANCH, SHINGADA TALAO, NASHIK - 422001, MAHARASHTRA, INDIA |
C13368691 |
|
2 |
10385239 |
15/07/2014 * |
20,000,000.00 |
STATE BANK OF INDIA |
SME BRANCH, SHINGADA TALAO, NASHIK - 422001, MAHARASHTRA, INDIA |
C13373394 |
* Date of charge modification
FIXED ASSETS:
- Leasehold
Land
- Freehold Land
- Freehold
Buildings
- Leasehold
Buildings
- Plant and
Machinery
- Furniture and
Fixtures
- Vehicles
- Computer
- Office
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 payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.96 |
|
|
1 |
Rs.101.19 |
|
Euro |
1 |
Rs.73.37 |
INFORMATION DETAILS
|
Information Gathered
by : |
SUP |
|
|
|
|
Analysis Done by
: |
HNA |
|
|
|
|
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 |
NO |
|
--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.