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|
MIRA INFORM REPORT
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Report No. : |
506500 |
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Report Date : |
30.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
LINEN ART PRIVATE LIMITED |
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Registered
Office : |
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Mob. No.: |
91-9930300405 [Mr. Manesh Goenka] |
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Country : |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
27.12.2013 |
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Com. Reg. No.: |
11-251465 |
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Capital
Investment / Paid-up Capital : |
INR 150.000 Million |
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CIN No.: [Company Identification
No.] |
U74120MH2013PTC251465 |
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IEC No.: [Import-Export Code No.] |
0313075450 |
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GSTN : [Goods & Service Tax Registration
No.] |
27AACCL6186H1Z8 |
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TIN No.: |
27221059067 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AACCL6186H |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
·
Manufacturer of Linen Yarn. [Confirmed by
Management] Subject is primarily engaged in the business of Manufacturing, Finishing,
Jobworking and in any Manner Processing, Complete or in parts, all kinds of
Yarns, made of material like Linen etc. [Registered Activity] |
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No. of Employees
: |
35 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Maximum Credit Limit : |
USD 444000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 2013 and it is engaged in manufacturing, preparing and spinning of jute, mesta and other natural fibers including blended natural fibers. For the financial year 2017, the company has achieved decent growth in its revenue as compared to its previous year along with fair profit margin during the year. Rating takes into consideration, the satisfactory financial risk profile marked by strong capital base and comfortable debt protection metrics. However, these rating strengths gets partially offset by is low reserve level due to limited track record of its business operation. Payment seems to be slow but correct. In view of aforesaid, the company can be considered for business dealing at usual trade terms and condition. |
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
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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|
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
|
Very High Risk |
D |
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
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 30.04.2018.
IBBI (Insolvency and Bankruptcy Board of
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION PARTED BY
|
Name : |
Mr. Manesh Goenka |
|
Designation : |
Chief Financial Officer |
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Contact No.: |
91-9930300405 |
|
Date : |
30.04.2018 |
LOCATIONS
|
Registered Office : |
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Tel. No.: |
Not Available |
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Mob No.: |
91-9930300405 [Mr. Manesh Goenka] |
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Fax No.: |
Not Available |
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E-Mail : |
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Area : |
3000 Sq. Ft. |
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Location : |
Leased |
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Locality : |
Commercial |
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Factory: |
B -8, Tarap, Industrial Estate, Boisar, District Thane – 401504, |
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Location : |
Leased |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Shitanshu Bipin Vora |
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Designation : |
Director |
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Address : |
602 A, Shiv Sadan,1st
Floor, |
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Date of Birth/Age : |
20.09.1975 |
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Qualification : |
Graduate |
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Date of Appointment : |
31.01.2014 |
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PAN No.: |
AABPV4694A |
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DIN No.: |
00054986 |
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Name : |
Mr. Vimal Kumar Goenka |
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Designation : |
Director |
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Address : |
No 2 Shree Nilay Jayshree Housing Society Rishra, Hooghly
- 712249, West |
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Date of Birth/Age : |
08.09.1954 |
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Qualification : |
Professional |
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Date of Appointment : |
30.09.2015 |
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PAN No.: |
ADIPG4231G |
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DIN No.: |
07174517 |
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KEY EXECUTIVES
|
Name : |
Mr. Manesh Goenka |
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Designation : |
Chief Financial Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Ashwell Textiles Private Limited |
|
6000000 |
|
Fart Suppliers Private Limited |
|
1450000 |
|
Ketan Merchandise Private Limited |
|
700000 |
|
Kuber Trexim Private Limited |
|
600000 |
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Novel Finwest Private Limited |
|
160000 |
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Novelty Commodities Private Limited |
|
750000 |
|
Sheetal Vora |
|
5000 |
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Shitanshu Vora |
|
4995000 |
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Simplex Commotrade Private Limited |
|
340000 |
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Total |
|
15000000 |
AS ON: 30.09.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
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|
Promoters – Individual/ Hindu Undivided Family – Indian |
33.33 |
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Public/Other than promoters - Body Corporate |
66.67 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
·
Manufacturer of Linen Yarn. [Confirmed by
Management] Subject is primarily engaged in the business of Manufacturing, Finishing,
Jobworking and in any Manner Processing, Complete or in parts, all kinds of
Yarns, made of material like Linen etc. [Registered Activity] |
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Products/ Services : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
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Products : |
Not Available |
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Countries : |
Not Available |
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Imports : |
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Products : |
Raw Material |
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Countries : |
China |
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Terms : |
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Selling : |
Advance Payment, Cheque, Credit and Others [RTGS, NEFT] |
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Purchasing : |
Advance Payment, Cheque, Credit and Others [RTGS, NEFT] |
PRODUCTION STATUS: (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
End Users
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No. of Employees : |
35 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
Ashar and Company Chartered Accountants |
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Address : |
209/210, D.S. Trade Centre,Kirol Road, Vidyavihar(West) Mumbai-400086,
Maharashtra, India |
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PAN No.: |
AAPFA2573H |
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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 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
INR 10/- each |
INR 150.000 Million |
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|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
INR 10/- each |
INR 150.000 Million |
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FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
150.000 |
150.000 |
0.100 |
|
(b) Reserves and Surplus |
5.428 |
(0.849) |
(1.939) |
|
(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) |
155.428 |
149.151 |
(1.839) |
|
|
|
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|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
359.306 |
328.918 |
0.868 |
|
(b) Deferred tax liabilities (Net) |
4.497 |
1.020 |
0.000 |
|
(c) Other long-term
liabilities |
91.538 |
183.126 |
0.000 |
|
(d) long-term
provisions |
2.429 |
1.160 |
0.000 |
|
Total Non-current
Liabilities (3) |
457.770 |
514.224 |
0.868 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
0.000 |
0.000 |
306.404 |
|
(b) Trade
payables |
60.079 |
46.608 |
52.377 |
|
(c) Other
current liabilities |
40.995 |
46.782 |
26.212 |
|
(d) Short-term
provisions |
0.722 |
0.594 |
0.676 |
|
Total Current
Liabilities (4) |
101.796 |
93.984 |
385.669 |
|
|
|
|
|
|
TOTAL |
714.994 |
757.359 |
384.698 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
539.830 |
558.854 |
1.909 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Tangible assets
capital work-in-progress |
0.000 |
61.317 |
217.082 |
|
(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 |
0.714 |
|
(d)
Long-term loans and advances |
2.465 |
0.566 |
0.000 |
|
(e) Other
Non-current assets |
13.047 |
13.351 |
5.130 |
|
Total Non-Current
Assets |
555.342 |
634.088 |
224.835 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
4.281 |
2.935 |
0.000 |
|
(c) Trade
receivables |
47.482 |
22.034 |
0.000 |
|
(d) Cash and
bank balances |
0.750 |
5.347 |
28.875 |
|
(e)
Short-term loans and advances |
104.953 |
91.926 |
130.750 |
|
(f) Other
current assets |
2.186 |
1.029 |
0.238 |
|
Total
Current Assets |
159.652 |
123.271 |
159.863 |
|
|
|
|
|
|
TOTAL |
714.994 |
757.359 |
384.698 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
290.120 |
209.837 |
0.000 |
|
|
Other Income |
2.476 |
7.646 |
0.439 |
|
|
TOTAL |
292.596 |
217.483 |
0.439 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Employee benefit expense |
69.141 |
61.545 |
2.130 |
|
|
Other expenses |
120.576 |
101.664 |
0.581 |
|
|
Prior period items |
0.099 |
0.659 |
0.000 |
|
|
TOTAL |
189.816 |
163.868 |
2.711 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
102.780 |
53.615 |
(2.272) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
9.810 |
9.463 |
0.021 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
92.970 |
44.152 |
(2.293) |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
83.215 |
41.328 |
0.048 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
9.755 |
2.824 |
(2.341) |
|
|
|
|
|
|
|
Less |
TAX |
3.477 |
1.734 |
(0.617) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
6.278 |
1.090 |
(1.724) |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
0.42 |
0.07 |
(172.38) |
|
PARTICULARS |
|
|
31.03.2018 |
|
Sales Turnover (Approximately) |
|
|
210.000 |
|
|
|
|
|
The above information has been parted by Mr. Manesh Goenka [Chief
Financial Officer]
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
0.574 |
0.787 |
0.389 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
(29.557) |
247.559 |
(9.004) |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
(23.022) |
254.613 |
(9.487) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
59.74 |
38.33 |
0.00 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
6.11 |
9.52 |
0.00 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
24.01 |
18.27 |
0.00 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.19 |
0.09 |
(0.01) |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.65 |
0.56 |
1.01 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
2.32 |
2.21 |
(167.30) |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.65 |
0.63 |
(209.72) |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
3.47 |
4.16 |
(119.08) |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
10.48 |
5.67 |
(108.19) |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
2.16 |
0.52 |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
0.88 |
0.14 |
(0.45) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
4.04 |
0.73 |
93.75 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.57 |
1.31 |
0.41 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.53 |
1.28 |
0.41 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.22 |
0.20 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
2.40 |
2.20 |
3076.61 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.57 |
1.31 |
0.41 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
0.100 |
150.000 |
150.000 |
|
Reserves & Surplus |
(1.939) |
(0.849) |
5.428 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
(1.839) |
149.151 |
155.428 |
|
|
|
|
|
|
Long-term borrowings |
0.868 |
328.917 |
359.306 |
|
Short term borrowings |
306.404 |
0.000 |
0.000 |
|
Current maturities of
long-term debts |
0.389 |
0.787 |
0.574 |
|
Total
borrowings |
307.661 |
329.704 |
359.880 |
|
Debt/Equity
ratio |
(167.298) |
2.211 |
2.315 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
0.000 |
209.837 |
290.120 |
|
|
0.000 |
0.000 |
38.260 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
0.000 |
209.837 |
290.120 |
|
Profit/ (Loss) |
(1.724) |
1.090 |
6.278 |
|
|
0.000 |
0.52
% |
2.16
% |
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 |
Yes |
|
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 |
No |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
Yes |
|
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% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
Litigations that the firm/promoter
involved in |
-- |
|
32 |
Market information |
-- |
|
33 |
Payments terms |
Yes |
|
34 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES: NO
CHARGES EXISTS FOR COMPANY
UNSECURED LOANS
|
PARTICULARS |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Intercorporate borrowings |
333.113 |
288.400 |
|
Loans and advances from related parties |
24.354 |
39.803 |
|
|
|
|
|
Total |
357.467 |
328.203 |
NATURE OF OPERATIONS
Linen Art Private Limited is primarily engaged in the business of
Manufacturing, Finishing, Jobworking and in any manner processing, complete or
in parts, all kinds of Yarns, made of material like Linen etc. at Tarapur
Industrial Estate, Maharashtra.
PERFORMANCE
AND AFFAIRS OF THE COMPANY
The Directors expect further expansion of business activities and higher earnings of the Company during the current year of operation.
CURRENT STATUS
The order book position of the Company in the current financial year 2016-17 is satisfactory. The Company expects to achieve better performance during the current year.
CONTINGENT
LIABILITIES [AS ON 31.03.2017]:
1. Bank Guarantees issued to suppliers amounting to INR 12.201 Million
2. Import of Machineries under EPCG scheme resulting in savings of Duty paid by INR 162.812 Million would attract Export Obligation under EPCG scheme amounting to INR 976.869 Million to be fulfilled within 6 years from the date of issue of certificate, 80,08,696
FIXED ASSETS:
·
Plant and equipment
Factory
equipments
Furniture
and fixtures
Vehicles
Motor
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, 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
|
INR |
|
US Dollar |
1 |
INR 66.78 |
|
UK Pound |
1 |
INR 92.89 |
|
Euro |
1 |
INR 80.74 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHR |
|
|
|
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
IND |
SCORE FACTORS
|
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 |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.