|
|
|
MIRA INFORM REPORT
|
Report No. : |
489827 |
|
Report Date : |
05.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
TREND ELECTRONICS LIMITED (w.e.f.01.05.2007) |
|
|
|
|
Formerly Known
As : |
VIDEOCON VCR LIMITED VIDEOCON COMMUNICATIONS LIMITED |
|
|
|
|
Registered
Office : |
20, K. M. Stone, Aurangabad-Beed Road, Village Bhalgaon, Aurangabad –
431210, Maharashtra |
|
Tel. No.: |
91-240-2644507 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
16.06.1989 |
|
|
|
|
Com. Reg. No.: |
11-052233 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 2075.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L99999MH1989PLC052233 |
|
|
|
|
IEC No.: |
3192003154 |
|
|
|
|
GSTIN : |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACV5946R |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges |
|
|
|
|
Line of Business
: |
Manufacturing and Trading of Electrical and
Electronic Appliances.
[Registered Activity] |
|
|
|
|
No. of Employees
: |
339 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of Videocon Group which was incorporated in the year
1989 and it acts as one of the production base for its group and sells
majority of its products to Videocon Industries Limited (VIL), Videocon d2h
Limited and other group companies. As per financials of March 2017, the company has registered decline in
its revenue as compared to its previous year’s revenue and has reported
losses. Rating takes into consideration the company’s continuous losses from
its operations marked by negative reserves along with leveraged capital
structure and below liquidity position. Rating is further constrained on account of credit enhancement in the
form of unconditional and irrevocable corporate guarantee extended by
Videocon Industries Limited (VIL) and its group selling out of its d2h arm
i.e. Videocon d2h Limited to Dish TV India Limited. Payments seems to be slow. In view of aforesaid, the company can be considered for business
dealings with some caution. |
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 |
CARE |
|
Rating |
Long Term Bank Facilities = BB+ (SO) and Suspended |
|
Rating Explanation |
Moderate risk of default and moderate credit risk |
|
Date |
09.06.2016 |
|
|
|
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities = A4+ (SO) and Suspended |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk |
|
Date |
09.06.2016 |
(SO): Structural Obligation
Reason for Suspension: Absence of requisite
Information
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 05.02.2018.
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly available
IBBI (Insolvency and Bankruptcy Board of India) list as of report date.
INFORMATION DENIED
Management Non-Cooperative (Tel. No.:
91-240-2644510/ 12/ 16)
LOCATIONS
|
Registered Office/ Factory : |
20, K. M. Stone, Aurangabad-Beed Road, Village Bhalgaon, Aurangabad –
431210, Maharashtra, India |
|
Tel. No.: |
91-240-2644507/ 9/ 10/ 12/ 16 / 2431-251505 |
|
Fax No.: |
91-240-2644506 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Subhash Shripad Nabar |
|
Designation : |
Director |
|
Address : |
Plot No 149, N - 1 Cidco, Aurangabad-431001, Maharashtra,
India |
|
Date of Appointment : |
31.10.2002 |
|
DIN No.: |
01341057 |
|
|
|
|
Name : |
Mr. Vivek Dattatraya Dharm |
|
Designation : |
Director |
|
Address : |
D-31, Shree Ramkrishna Colony, Behind Markendaya Society,
Savedi, Ahmednagar-414001, Maharashtra, India |
|
Date of Appointment : |
08.12.2005 |
|
DIN No.: |
00214361 |
|
|
|
|
Name : |
Mrs. Smita V. Dharm |
|
Designation : |
Director |
|
Address : |
D-31, Shreeramkrishna Society, Gulmohar Road, Ahmednagar - 414001, Maharashtra, India |
|
Date of Birth/Age : |
27.11.1970 |
|
Qualification : |
Bachelor of Commerce |
|
Experience : |
46 Years |
|
Date of Appointment : |
31.03.2015 |
|
DIN No.: |
07144712 |
|
|
|
|
Name : |
Mr. Chandrakant Sidram Jyoti |
|
Designation : |
Director |
|
Address : |
Obroi Spring C Wing, 303 Link Road, Opposite T Series Business Park, Andheri (West), Mumbai-400053, Maharashtra, India |
|
Date of Birth/Age : |
20.01.1963 |
|
Qualification : |
Bachelor of Commerce M.B.A with specialization in Marketing and HR |
|
Experience : |
54 Years |
|
Date of Appointment : |
29.01.2016 |
|
DIN No.: |
03375482 |
KEY EXECUTIVES
|
Name : |
Mr. Kaustubha Arun Sahasrabudhe |
|
Designation : |
Company Secretary |
|
Address : |
Flat No. C- 301 Grand View- 7, Off Katraj High Way, Ambe
Gaon, Pune-411046, Maharashtra, India |
|
Date of Appointment : |
30.04.2013 |
|
PAN No.: |
BQVPS6142R |
SHAREHOLDING PATTERN
AS ON 31.12.2017
|
Category of shareholder |
Total nos. shares held |
Shareholding as a % of total no. of
shares (calculated as per SCRR, 1957)As a % of (A+B+C2) |
|
|
(A) Promoter & Promoter Group |
4041788 |
53.89 |
|
|
(B) Public |
3458212 |
46.11 |
|
|
Grand Total |
7500000 |
100.00 |
STATEMENT SHOWING SHAREHOLDING PATTERN OF THE PROMOTER AND PROMOTER
GROUP
|
Category of shareholder |
Total nos. shares held |
Shareholding as a % of total no. of shares
(calculated as per SCRR, 1957)As a % of (A+B+C2) |
|
|
A1) Indian |
0.00 |
||
|
Individuals/Hindu undivided Family |
150 |
0.00 |
|
|
Venugopal Nandlal Dhoot |
110 |
0.00 |
|
|
Pradipkumar Nandlal Dhoot |
10 |
0.00 |
|
|
Rajkumar Nandlal Dhoot |
10 |
0.00 |
|
|
Kesharbai Nandlal Dhoot |
10 |
0.00 |
|
|
Ramabai Venugopal Dhoot |
10 |
0.00 |
|
|
Any Other (specify) |
4041638 |
53.89 |
|
|
Videocon Industries Limited |
1408800 |
18.78 |
|
|
Electroparts (India) Private Limited |
116075 |
1.55 |
|
|
Waluj Components Private Limited |
710730 |
9.48 |
|
|
Dome-Bell Electronics India Private Limited |
1250100 |
16.67 |
|
|
Evans Fraser and Co. (India) Limited |
290933 |
3.88 |
|
|
Nippon Investment and Finance Company Private Limited |
265000 |
3.53 |
|
|
Sub Total A1 |
4041788 |
53.89 |
|
|
A2) Foreign |
0.00 |
||
|
A=A1+A2 |
4041788 |
53.89 |
STATEMENT SHOWING SHAREHOLDING PATTERN OF THE PUBLIC SHAREHOLDER
|
Category & Name of the Shareholders |
Total no. shares held |
Shareholding % calculated as per SCRR, 1957
As a % of (A+B+C2) |
|
|
B1) Institutions |
0.00 |
||
|
Mutual Funds/ |
2400 |
0.03 |
|
|
Financial Institutions/ Banks |
1575 |
0.02 |
|
|
Sub Total B1 |
3975 |
0.05 |
|
|
B2) Central Government/ State Government(s)/ President of India |
0.00 |
||
|
B3) Non-Institutions |
0.00 |
||
|
Individual share capital upto INR 0.200 Million |
1968252 |
26.24 |
|
|
Individual share capital in excess of INR 0.200 Million |
745260 |
9.94 |
|
|
Kalpana S Khandelwal |
117017 |
1.56 |
|
|
Sunil Ghanshyamdas Khandelwal |
178963 |
2.39 |
|
|
Anil Zawar |
75102 |
1.00 |
|
|
Pushpa Devi Pagaria |
77753 |
1.04 |
|
|
Any Other (specify) |
740725 |
9.88 |
|
|
Bodies Corporate |
84392 |
1.13 |
|
|
Joy Holdings Private Limited |
368500 |
4.91 |
|
|
HUF |
142111 |
1.89 |
|
|
NRI |
145722 |
1.94 |
|
|
Sub Total B3 |
3454237 |
46.06 |
|
|
B=B1+B2+B3 |
3458212 |
46.11 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Trading of Electrical and
Electronic Appliances.
[Registered Activity] |
||||
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Products / Services
: |
|
||||
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||||
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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||||
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Exports : |
Not Divulged |
||||
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||||
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Imports : |
Not Divulged |
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|
||||
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Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
339 (Approximately) |
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Bankers : |
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Facilities : |
|
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Auditors 1 : |
|
|
Name : |
Khandelwal Jain and Company Chartered Accountants |
|
Address : |
12-B, Baldota Bhavan,
117, Maharshi Karve Road, Opposite Churchgate Railway Station, Mumbai -
400020, Maharashtra, India |
|
|
|
|
Auditors 2 : |
|
|
Name : |
Kadam and Company Chartered Accountants |
|
Address : |
Vedant, 8/9 Viraj Estate, Opposite Tarakpur Bus Stand, Ahmednagar –
414003, Maharashtra, India |
|
Tel No : |
91-241-2322120/ 30/ 40/ 2358964 |
|
E-mail : |
|
|
|
|
|
Auditors 3 : |
|
|
Name : |
S. Z. Deshmukh and Company Chartered Accountants |
|
Address : |
F. No. 306, Aastha-II Apartment, 3rd Floor, Opposite P.S.
Centre, Deonar, Mumbai-400088, Maharashtra, India |
|
Tel No : |
91-22-25501909 |
|
E-mail : |
|
|
|
|
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
25000000 |
Equity Shares |
INR 10/- each |
INR 250.000 Million |
|
20000000 |
Redeemable Preference Shares |
INR 100/- each |
INR 2000.000 Million |
|
|
Total |
|
INR 2250.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
7500000 |
Equity Shares |
INR 10/-
each |
INR 75.000
Million |
|
20000000 |
8% Non-Cumulative Redeemable Preference
Shares |
INR 100/-
each |
INR 2000.000
Million |
|
|
Total |
|
INR 2075.000 Million |
Reconciliation of the
number of Shares:
|
Equity Shares of
INR 10/- each |
31.03.2017 |
|
|
No. of Shares |
INR in Million |
|
|
Outstanding at the beginning of the period/ year |
7500000 |
75.000 |
|
Add: Issued during the period/ year |
-- |
-- |
|
Outstanding at the end of the year |
7500000 |
75.000 |
|
|
|
|
|
8% Non-Cumulative
Redeemable Preference Shares of INR 100/- each |
|
|
|
Outstanding at the beginning of the period/ year |
20000000 |
2000.000 |
|
Add: Issued during the period/ year |
-- |
-- |
|
Outstanding at the end of the period/ year |
20000000 |
2000.000 |
Rights, preference
and restrictions:
a) The Company has only one class of equity shares having
par value of INR 10/- per share. Each holder of equity shares is entitled to equal
right of voting and dividend.
b) In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the Company after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders
c) The Preference shares do not have voting rights. They
have preference over equity shareholder as to dividend and in case of
liquidation
Terms of redemption
of Preference Shares:
a) The Preference shares of INR 1000.000 Million are redeemable at par in 4 equal yearly installments on 4th December, 2017, 4th December, 2018, 4th December, 2019 and 4th December, 2020.
b) The Preference shares of INR 1000.000 Million are redeemable at par in 4 equal yearly installments on 30th March, 2021, 30th March, 2021, 30th March, 2022, 30th March, 2023 and 30th March, 2024.
Details of
Shareholders holding more than 5% Shares:
|
Particulars |
31.03.2017 |
|
|
No. of Shares |
% of Holdings |
|
|
Equity Shares |
|
|
|
Dome-Bell Electronics India Private Limited |
1250100 |
16.67 |
|
Shree Dhoot Trading and Agencies Limited |
116075 |
1.55 |
|
Videocon Industries Limited |
1408800 |
18.78 |
|
Waluj Components Private Limited |
710730 |
9.48 |
|
|
|
|
|
Preference Shares |
|
|
|
Dome-Bell Electronics India Private Limited |
3500000 |
17.50 |
|
Shree Dhoot Trading and Agencies Limited |
3500000 |
17.50 |
|
Videocon Industries Limited |
10000000 |
50.00 |
|
Waluj Components Private Limited |
3000000 |
15.00 |
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 [12 Months] |
31.03.2016 [15 Months] |
31.12.2014 [12 Months] |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
2075.000 |
2075.000 |
1075.000 |
|
(b) Reserves &
Surplus |
(1070.270) |
(475.830) |
(246.070) |
|
(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) |
1004.730 |
1599.170 |
828.930 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
2193.310 |
3957.450 |
2630.220 |
|
(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 |
20.960 |
18.360 |
9.220 |
|
Total Non-current
Liabilities (3) |
2214.270 |
3975.810 |
2639.440 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
3008.500 |
3088.350 |
4465.480 |
|
(b) Trade payables |
2077.650 |
2162.180 |
1987.690 |
|
(c) Other current
liabilities |
3205.570 |
2717.230 |
626.490 |
|
(d) Short-term provisions |
28.730 |
32.740 |
39.710 |
|
Total Current Liabilities
(4) |
8320.450 |
8000.500 |
7119.370 |
|
|
|
|
|
|
TOTAL |
11539.450 |
13575.480 |
10587.740 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1864.220 |
2085.940 |
2394.630 |
|
(ii) Intangible Assets |
3.500 |
0.320 |
0.490 |
|
(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 |
456.020 |
456.020 |
456.460 |
|
(c) Deferred tax assets
(net) |
191.690 |
250.380 |
97.750 |
|
(d) Long-term Loan and Advances |
19.930 |
41.380 |
37.070 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
2535.360 |
2834.040 |
2986.400 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
3861.270 |
3994.700 |
3910.430 |
|
(c) Trade receivables |
2834.910 |
2949.170 |
2819.820 |
|
(d) Cash and cash
equivalents |
352.950 |
388.280 |
368.220 |
|
(e) Short-term loans and
advances |
1945.470 |
3388.420 |
492.510 |
|
(f) Other current assets |
9.490 |
20.870 |
10.360 |
|
Total Current Assets |
9004.090 |
10741.440 |
7601.340 |
|
|
|
|
|
|
TOTAL |
11539.450 |
13575.480 |
10587.740 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 [12 Months] |
31.03.2016 [15 Months] |
31.12.2014 [12 Months] |
|
|
SALES |
|
|
|
|
|
Income |
11270.620 |
18749.560 |
14768.790 |
|
|
Other Income |
167.110 |
44.860 |
57.500 |
|
|
TOTAL |
11437.730 |
18794.420 |
14826.290 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
4919.050 |
8111.240 |
6410.960 |
|
|
Purchases of
Stock-in-Trade |
5222.470 |
8989.240 |
7337.560 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
317.860 |
49.680 |
93.150 |
|
|
Employees benefits
expense |
203.580 |
267.810 |
185.420 |
|
|
Other expenses |
256.080 |
344.090 |
308.240 |
|
|
TOTAL |
10919.040 |
17762.060 |
14335.330 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
INTEREST, TAX, DEPRECIATION AND AMORTISATION |
518.690 |
1032.360 |
490.960 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
826.120 |
1108.180 |
720.460 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
(307.430) |
(75.820) |
(229.500) |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
228.320 |
306.570 |
218.090 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
(535.750) |
(382.390) |
(447.590) |
|
|
|
|
|
|
|
Less |
TAX |
58.690 |
(152.630) |
(99.800) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
(594.440) |
(229.760) |
(347.790) |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
120.080 |
0.000 |
0.000 |
|
|
TOTAL EARNINGS |
120.080 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
3406.830 |
3983.760 |
3173.460 |
|
|
Capital Goods |
0.890 |
0.680 |
4.020 |
|
|
TOTAL IMPORTS |
3407.720 |
3984.440 |
3177.480 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
(79.26) |
(30.64) |
(46.37) |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 [12 Months] |
31.03.2016 [15 Months] |
31.12.2014 [12 Months] |
|
Current Maturities of Long term debt |
586.150 |
1037.520 |
561.090 |
|
Cash generated from operations |
3048.880 |
(341.250) |
716.690 |
|
Net cash flow from (used in) operating activities |
3051.700 |
(345.280) |
719.210 |
QUARTERLY
RESULTS
|
PARTICULARS |
|
30.06.2017 1st
Quarter |
30.09.2017 2nd
Quarter |
|
|
|
(Unaudited) |
(Unaudited) |
|
|
|
|
|
|
Net Sales |
|
1346.700 |
1220.700 |
|
Total Expenditure |
|
1521.800 |
1451.600 |
|
PBIDT (Excluding Other Income) |
|
(175.100) |
(230.900) |
|
Other Income |
|
6.000 |
5.100 |
|
Operating Profit |
|
(169.100) |
(225.800) |
|
Interest |
|
262.500 |
263.700 |
|
Exceptional Items |
|
0.000 |
0.000 |
|
PBDT |
|
(431.600) |
(489.500) |
|
Depreciation |
|
57.600 |
57.700 |
|
Profit Before Tax |
|
(489.200) |
(547.200) |
|
Tax |
|
(14.000) |
(13.300) |
|
Provisions and contingencies |
|
NA |
NA |
|
Profit After Tax |
|
(475.200) |
(533.900) |
|
Extraordinary Items |
|
NA |
NA |
|
Prior Period Expenses |
|
NA |
NA |
|
Other Adjustments |
|
NA |
NA |
|
Net Profit |
|
(475.200) |
(533.900) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 [12 Months] |
31.03.2016 [15 Months] |
31.12.2014 [12 Months] |
|
Average Collection Days (Sundry Debtors
/ Income * 365) |
91.81 |
57.41 |
69.69 |
|
|
|
|
|
|
Account Receivables Turnover (Income /
Sunday Debtors) |
3.98 |
6.36 |
5.24 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
74.78 |
46.15 |
52.77 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.13 |
0.26 |
0.13 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.28 |
0.49 |
0.20 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 [12 Months] |
31.03.2016 [15 Months] |
31.12.2014 [12 Months] |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.96 |
0.96 |
0.97 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
5.76 |
5.05 |
9.24 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
8.28 |
5.00 |
8.59 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
1.86 |
1.30 |
2.89 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
0.63 |
0.93 |
0.68 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 [12 Months] |
31.03.2016 [15 Months] |
31.12.2014 [12 Months] |
|
Net Profit Margin [(PAT / Sales) * 100] |
% |
(5.27) |
(1.23) |
(2.35) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
(5.15) |
(1.69) |
(3.28) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
(59.16) |
(14.37) |
(41.96) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 [12 Months] |
31.03.2016 [15 Months] |
31.12.2014 [12 Months] |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.08 |
1.34 |
1.07 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.62 |
0.84 |
0.52 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.09 |
0.12 |
0.08 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
2.79 |
3.90 |
7.12 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.08 |
1.34 |
1.07 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
STOCK
PRICES
|
Face Value |
INR 10.00/- |
|
Market Value |
INR 12.93/- |
FINANCIAL ANALYSIS
[all figures are
INR Million]
DEBT EQUITY RATIO
|
Particular |
31.12.2014 [12 Months] |
31.03.2016 [15 Months] |
31.03.2017 [12 Months] |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Share Capital |
1075.000 |
2075.000 |
2075.000 |
|
Reserves & Surplus |
(246.070) |
(475.830) |
(1070.270) |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
828.930 |
1599.170 |
1004.730 |
|
|
|
|
|
|
long-term borrowings |
2630.220 |
3957.450 |
2193.310 |
|
Short term borrowings |
4465.480 |
3088.350 |
3008.500 |
|
Current Maturities of
Long term debt |
561.090 |
1037.520 |
586.150 |
|
Total borrowings |
7656.790 |
8083.320 |
5787.960 |
|
Debt/Equity ratio |
9.237 |
5.055 |
5.761 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.12.2014 [12 Months] |
31.03.2016 [15 Months] |
31.03.2017 [12 Months] |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Sales |
14768.790 |
18749.560 |
11270.620 |
|
|
|
26.954 |
(39.889) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.12.2014 [12 Months] |
31.03.2016 [15 Months] |
31.03.2017 [12 Months] |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Sales |
14768.790 |
18749.560 |
11270.620 |
|
Profit / (Loss) |
(347.790) |
(229.760) |
(594.440) |
|
|
(2.35%) |
(1.23%) |
(5.27%) |
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 |
No |
|
8 |
Designation of contact person |
No |
|
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 |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOANS:
|
Unsecured Loan |
31.03.2017 INR In Million [12 Months] |
31.03.2016 INR In Million [15 Months] |
|
Long-term
Borrowings |
|
|
|
Sales tax deferral |
202.860 |
323.750 |
|
Total |
202.860 |
323.750 |
PERFORMANCE REVIEW
During the year, the company has earned a total income of INR 11437.730
Million as against INR 18794.420 Million for the previous period of 15 months
ended on 31st March 2016. Total expenditure amounted to INR
11973.480 Million as against INR 19176.810 Million for the previous period of
15 months ended 31st march, 2016. The company has incurred a net
loss of INR 594.440 Million as against a net loss of INR 229.760 Million for
the previous period of 15 months ended on 31st March, 2016.
The company is engaged in the business of manufacturing and trading of
satellite as well as cable Set Top Box, LED TVs and other consumer electronics
items. Until the announcement of demonetization policy, by Government of India,
there was good demand Set Top Boxes on account of the Digitization policy,
announced by Government of India, which targeted digitization in entire country
by 31st December, 2016 under phase IV. However, demonetization have
had a negative impact on the turnover and profitability of the company due to
lack of demand across all segments.
INDEX OF CHARGE:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Amount |
Address |
|
1 |
C77488328 |
10616891 |
IDBI Trusteeship Services Limited |
18/12/2015 |
- |
2000000000.0 |
Asian Building, Ground Floor,17-R. Kamani Marg Ballard Estate, Mumbai-400001, Maharashtra, India |
|
2 |
C60092632 |
10582586 |
Small Industries Development Bank of India |
28/07/2015 |
- |
100000000.0 |
"Jeevan Suman" LIC Buidling, 1st Floor, N-5, CIDCO, Aurangabad-431003, Maharashtra, India |
|
3 |
C64349897 |
10414632 |
SBICAP TRUSTEE COMPANY LIMITED |
21/03/2013 |
20/08/2015 |
201950000000.0 |
202, Maker Tower, 'E', Cuffe Parade, Colaba, Mumbai-400005, Maharashtra, India |
|
4 |
B38403564 |
10352241 |
ICICI BANK LIMITED |
30/04/2012 |
- |
6500000000.0 |
Landmarkrace Cource Circle, Alkapuri, Vadodara-390015, Gujarat, India |
|
5 |
B38855318 |
10353445 |
STATE BANK OF INDIA |
24/04/2012 |
- |
7500000000.0 |
Corporate Accounts Group Branch, Neville House, 3rd Floor, J. N. Heredia Marg, Ballard Estate, Mumbai-400001, Maharashtra, India |
|
6 |
B32982407 |
10337611 |
IDBI Bank Limited |
18/02/2012 |
- |
30250000000.0 |
IDBI Tower, WTC Complex, Cuffe Parade, Mumbai-400005, Maharashtra, India |
|
7 |
B18313767 |
10300909 |
HDFC BANK LIMITED |
16/07/2011 |
- |
3825576.0 |
HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai-400013, Maharashtra, India |
|
8 |
B18314039 |
10300913 |
HDFC BANK LIMITED |
16/07/2011 |
- |
5201607.0 |
HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai-400013, Maharashtra, India |
|
9 |
B36553162 |
90235132 |
STATE BANK OF HYDERABAD |
28/09/2005 |
28/03/2012 |
6050000000.0 |
Shahgunj Main Branch, Aurangabad-431001, Maharashtra, India |
|
10 |
Y10323224 |
90220433 |
KOTAK MAHINDRA FINANCE LTD |
17/06/2002 |
- |
71600000.0 |
Kalina Satacruz (East), Mumbai-400098, Maharashtra, India |
CONTINGENT
LIABILITIES:
(INR in million)
|
Particulars |
31.03.2017 INR In Million [12 Months] |
31.03.2016 INR In Million [15 Months] |
|
Letters of Credit opened |
499.830 |
927.320 |
|
Letters of Guarantees |
3.960 |
4.960 |
|
Claims against the
Company not acknowledged as debts |
|
|
|
Custom Duty demands and penalties under dispute |
0.750 |
0.750 |
|
Excise Duty and Service Tax demands and penalties under dispute |
12.770 |
15.220 |
|
Sales Tax demands and penalties under dispute [Amount paid under protest INR 0.270 Million (Previous year INR 18.460 Million)] |
0.570 |
52.060 |
|
Income Tax matters in respect of which appeals are pending |
7.430 |
7.430 |
|
Total |
556.5417 |
1039.0616 |
STANDALONE
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED AND SIX MONTHS ENDED 30TH
SEPTEMBER, 2017
(INR In Million)
|
Particulars |
Quarter year ended |
Six Months ended |
|
|
|
30.09.2017 |
30.06.2017 |
30.09.2017 |
|
|
(Unaudited) |
(Unaudited) |
(Unaudited) |
|
INCOME FROM OPERATIONS |
|
|
|
|
Revenue from operations |
1220.700 |
1346.700 |
2567.400 |
|
Other Income |
5.100 |
6.000 |
11.100 |
|
Total
Income |
1225.800 |
1352.700 |
2578.500 |
|
|
|
|
|
|
EXPENSES |
|
|
|
|
Cost of materials consumed |
1219.400 |
910.000 |
2129.400 |
|
Purchase of Stock in Trade |
0.000 |
360.900 |
360.900 |
|
Changes in inventories of finished goods and work-in-progress
|
73.800 |
47.700 |
121.500 |
|
Excise duty |
0.000 |
105.200 |
105.200 |
|
Employee benefits expense |
49.200 |
47.800 |
97.000 |
|
Finance costs |
263.700 |
262.500 |
526.200 |
|
Depreciation and Amortization expenses |
57.700 |
57.600 |
115.300 |
|
Other Expenditure |
109.200 |
50.200 |
159.400 |
|
Total
Expenses |
1773.000 |
1841.900 |
3614.900 |
|
Profit
/ (Loss) before Tax |
(547.200) |
(489.200) |
(1036.400) |
|
Tax Expense |
(13.300) |
(14.000) |
(27.300) |
|
Profit
/ (Loss) after Tax |
(533.900) |
(475.200) |
(1009.100) |
|
Other
comprehensive income/ (loss) |
|
|
|
|
Items that will not be reclassified to profit or loss |
(16.800) |
(259.300) |
(276.100) |
|
Income tax relating to items that will not be reclassified
to profit or loss |
1.200 |
1.200 |
2.400 |
|
Total
comprehensive income/ (loss) |
(15.600) |
(258.100) |
(273.700) |
|
Total
comprehensive income/ (loss) for the period |
(549.500) |
(733.300) |
(1282.800) |
|
Paid-up Equity Share Capital (Face value INR 10/- per
share) |
75.000 |
75.000 |
75.000 |
|
Earnings per Share (EPS) - INR |
|
|
|
|
Basic
and Diluted EPS (in INR) |
(71.19) |
(63.36) |
(134.55) |
STANDALONE STATEMENT
OF ASSTES AND LIABILITIES
(INR In Million)
|
SOURCES OF FUNDS |
|
|
30.09.2017 (Unaudited) |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
75.000 |
|
(b) Reserves & Surplus |
|
|
(661.500) |
|
(c) Pending Call Money |
|
|
0.000 |
|
Sub-total Shareholders’ |
|
|
(586.500) |
|
|
|
|
|
|
(2) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
3337.100 |
|
(b) Deferred tax liabilities (Net) |
|
|
78.800 |
|
(c) Other long term liabilities |
|
|
0.000 |
|
(d) long-term provisions |
|
|
22.000 |
|
Sub-total of Non-Current
liabilities |
|
|
3437.900 |
|
|
|
|
|
|
(3)
Current liabilities |
|
|
|
|
(a) Short
term borrowings |
|
|
4296.600 |
|
(b) Trade
payables |
|
|
1217.300 |
|
(c) Other
current liabilities |
|
|
2458.800 |
|
(d) Short-term
provisions |
|
|
27.700 |
|
Sub-total of Current liabilities |
|
|
8000.400 |
|
|
|
|
|
|
TOTAL |
|
|
1085.180 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i) Tangible
assets |
|
|
3068.300 |
|
(ii)
Intangible assets |
|
|
3.200 |
|
(b)
Non-Current investments |
|
|
143.500 |
|
(c) Deferred
tax assets (net) |
|
|
0.000 |
|
(d) Long
term loans and advances |
|
|
0.200 |
|
(e) Other
non-current assets |
|
|
99.000 |
|
Sub-total of
Non-Current Assets |
|
|
3314.200 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
|
0.000 |
|
(b)
Inventories |
|
|
3384.800 |
|
(c) Trade
receivables |
|
|
1966.800 |
|
(d) Cash and
cash equivalents |
|
|
278.700 |
|
(e)
Short-term loans and advances |
|
|
1885.100 |
|
(f) Other
current assets |
|
|
22.200 |
|
Sub-total of
Current Assets |
|
|
7537.600 |
|
|
|
|
|
|
TOTAL |
|
|
1085.180 |
NOTES:
1. The above standalone financial results have been reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on 6th January, 2018. The Limited Review under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 has been carried out by the Statutory Auditors of the Company.
2. Revenue from Operations for the quarter ended 30th September, 2017 is net of
Goods and Service Tax (GST). However, Revenue from Operations for the quarter
ended 30th June, 2017 and for all comparative periods presented are gross of
excise duty.
3. The Company has adopted the Indian Accounting Standards ('Ind AS') from 1st
April, 2017 (transition date 1st April, 2016) and accordingly, these standalone
financial results for the quarter ended 30th September, 2017 together with the
results of the comparative previous period have been prepared in accordance
with recognition and measurement principles laid down in the Ind AS 34 'Interim
Financial Reporting' prescribed under Section 133 of the Companies Act, 2013
read with the relevant rules issued there under and the other accounting
principles generally accepted in India.
4. The impact of transition has been accounted for in the opening reserves and
the comparable period results have been restated accordingly. The results for
the quarter ended 30th September, 2016 have not been subjected to limited
review or an audit in-line with SEBI Circular dated 5th July, 2016. However,
the Management has exercised necessary due diligence to ensure that such
financial results provide a true and fair view of its affairs.
5. The Statement does not include Ind AS compliant results for the previous year ended 31st March, 2017 as the same are not mandatory as per SEBI's Circular dated 5th July, 2016.
6. As per the news papers and media channels, the Company, along with 13 other
co-obligor companies under Videocon Group, have been, in line with the
directives of Reserve Bank of India, referred to National Company Law Tribunal
(NCLT) under the Insolvency and Bankruptcy Code (Amendment) Ordinance,
2017.
In view of the above and in view of the persistent severe strains on the
working capital for the last one year there is a significant doubt on the
ability of the Company to continue as "Going Concern" for the purpose
of activities and operations of the Company along with activities and
operations of 13 other co-obligor companies. This is because the referral to
NCLT under the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2017 by
lenders under the directives of Reserve Bank of India, amounts to a very
material event occurring after the cut-off date. In case the going concern
concept is vitiated, necessary adjustments will be required on the carrying
amount of Assets and Liabilities, which are not ascertainable, at this
stage.
7. The figures of the previous period have been regrouped and reclassified to
conform to the classification of current period, wherever considered necessary.
FIXED ASSETS:
Tangible Asset:
- Freehold Land
- Building
- Plant and Machinery
- Electrical Installation
- Furniture and Fixture
- Computer
- Office equipments
- Vehicles
Intangible Asset:
· Computer software
PRESS RELEASE
VIDEOCON-DISH TV
MERGER MAY GET AFFECTED BY INSOLVENCY CASE AGAINST VIDEOCON INDUSTRIES
Dish TV has asked advisers to evaluate the merger deal with Videocon d2h within 60 days, in light of the ongoing insolvency proceedings against Videocon Industries
Date: Jan 12, 2018
Mumbai: Direct-to-home (DTH) operator Dish TV India Ltd on Thursday pointed to the ongoing insolvency proceedings against Videocon group in the context of the delay in its planned merger with Videocon d2h.
Dish TV and Videocon d2h had announced a merger in November 2016.
Earlier, the company had said it expects the transaction to close by 27 December. In a 22 December filing, the company told exchanges that the necessary filings around the deal closure would be delayed further, without citing any reason for the delay.
In its latest stock exchange filing on Thursday, Dish TV said, “It has come to our knowledge that certain entities belonging to the Videocon group, including the promoters of Videocon d2h Ltd, have become subject to insolvency and/or enforcement proceedings by lenders. In light of the foregoing, the company is evaluating if there is any impact of the same on its rights and obligations under the definitive agreements and consequential effects on the transactions contemplated thereunder.”
Dish TV added that it has asked advisers to the transaction to evaluate the position and advise the company with their findings within 60 days.
Lenders have referred Videocon Industries to the National Company Law Tribunal for resolution under the Insolvency and Bankruptcy Code. The petition is yet to be admitted by the court.
The proceedings come at a time when the deal had reached its final stage.
In a letter dated 15 December, the information and broadcasting (I&B) ministry approved the request for the completion of merger between the two companies, Zee group-owned Dish TV said in a statement to stock exchanges last month.
“This paves the way for the creation of the largest listed media company in India, taking into consideration the last reported revenue and Ebitda numbers of the two DTH players on a pro-forma basis,” the company had said in the statement.
As of 30 September, the two had a combined subscriber base of 29 million.
The Dish TV and Videocon d2h merger announcement initiated a phase of consolidation in the DTH market. Recently, Reliance Communications Ltd sold its DTH arm to New Delhi-based Patel Technologies and Veecon Media Limited.
In December, Bharti Airtel sold a 20% stake in its DTH arm to private equity firm Warburg Pincus for $350 million as the company sought to cut debt.
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 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
|
INR |
|
US Dollar |
1 |
INR 64.08 |
|
UK Pound |
1 |
INR 91.34 |
|
Euro |
1 |
INR 80.03 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHW |
|
|
|
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
BHG |
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 |
YES |
|
--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)
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your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.