|
|
|
MIRA INFORM REPORT
|
Report No. : |
488956 |
|
Report Date : |
08.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
SHARMA LEATHER PRODUCTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
10F, East Topsia Road, Mirania Garden, Plot No.44, Kolkata – 700046,
West Bengal |
|
Tel. No.: |
91-33-22853211/32901680 |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
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|
|
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Date of
Incorporation : |
02.04.1992 |
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|
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Com. Reg. No.: |
21-055111 |
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|
|
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Capital
Investment / Paid-up Capital : |
INR 5.717 Million |
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|
|
|
CIN No.: [Company Identification
No.] |
U19129WB1992PTC055111 |
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|
|
|
IEC No.: |
Not Divulged |
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|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
AAECS5414P |
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|
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GSTIN/UIN : |
Not Divulged |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Tanning and Dressing of Leather, Manufacturing of Luggage, Handbags Saddlery, Harness and Footwear. (Registered Activity) |
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No. of Employees
: |
Information declined by the management |
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 |
|
Maximum Credit Limit : |
USD 183500 |
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|
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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 1992 having satisfactory track records.
It is engaged in Tanning and Dressing of Leather, Manufacturing of
Luggage, Handbags Saddlery, Harness and Footwear. For the financial; year 2017, the company has reported a dip in its
revenue as compared to its previous year along with negative results driven
by high operational expenses. However, the general financial position is marked by sufficient net
worth base and strong debt protection metrics. Rating takes into account the long and established track record of its
business operation and well experience management team. However, these rating strengths is partially offset by large working
capital requirement due to fragmented and highly competitive industry. These
factors result to inability of subject to scale up its operations without facing
profitability pressures. Payments are seems to be slow and correct. In view of aforesaid, the company can be considered for business
dealings at usual trade terms and conditions. |
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 (30.06.2017) |
Current Rating (30.09.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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
31-03-2016.
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 08.02.2018.
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 BY
|
Name : |
Mr. Ashish Sharma |
|
Designation : |
Director |
|
Mobile No.: |
91-9831038576 |
|
Date : |
04.01.2018 |
|
Tel. No: 91-33-22853211/32901630
(Ringing) |
LOCATIONS
|
Registered Office : |
10F, East Topsia Road, Mirania Garden, Plot No.44, Kolkata – 700046,
West Bengal, India |
|
Tel. No.: |
91-33-22853211/32901680 |
|
Mobile No.: |
91-9831038576 (Mr. Ashish Sharma) |
|
Fax No.: |
91-33-22853992 |
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E-Mail : |
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Website: |
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Warehouse: |
16-F, Ghulam Jhilani Khan Road, Kolkata – 700039, West Bengal, India |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Anil Kumar Sharma |
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|
Designation : |
Director |
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Address : |
6/1/3, Queens Park, Kolkata- 700019, West Bengal, India |
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Date of Birth: |
19.09.1955 |
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Date of Appointment : |
02.04.1992 |
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DIN No.: |
00006528 |
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Other Directorship:
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Name : |
Ms. Usha Sharma |
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Designation : |
Director |
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Address : |
6/1/3, Queens Park, Kolkata- 700019, West Bengal, India |
||||||||||||||||
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Date of Birth: |
28.01.1958 |
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Date of Appointment : |
02.04.1992 |
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DIN No.: |
00006546 |
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Other Directorship:
|
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|
||||||||||||||||
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Name : |
Mr. Ashish Sharma |
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|
Designation : |
Director |
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|
Address : |
6/1/3, Queens Park, Kolkata- 700019, West Bengal, India |
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Date of Birth: |
05.08.1978 |
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Date of Appointment : |
01.09.1997 |
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DIN No.: |
00006565 |
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|
||||||||||||||||
|
Name : |
Ms. Deepika Sharma |
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|
Designation : |
Director |
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|
Address : |
6/1/3, Queens Park, Kolkata- 700019, West Bengal, India |
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Date of Birth: |
08.04.1980 |
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Date of Appointment : |
19.12.2005 |
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DIN No.: |
00006575 |
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Shareholders |
No. of Shares |
%Age |
|
Anil Kumar Sharma |
265931 |
46.52 |
|
Usha Sharma |
174513 |
30.53 |
|
Ashish Sharma |
41082 |
7.19 |
|
Monica Sharma |
46173 |
8.08 |
|
Anil Kumar Sharma HUF |
43967 |
7.68 |
|
Total |
571666 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2017
|
Category |
Percentage |
|
Promoters (Individual/Hindu Undivided Family - Indian) |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Tanning and Dressing of Leather; Manufacturing of Luggage, Handbags Saddlery, Harness and Footwear. (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 : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
·
ICICI Bank ·
State Bank of India (Airport Branch) ·
United Bank of India |
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Facilities : |
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Auditors : |
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|
Name : |
Kapoor and Associates Chartered Accountants |
|
Address : |
Flat-1-I, First floor, 5AB Chowringhee Lane Kolkata – 700016, West
Bengal, India |
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Tel. No.: |
91-33-22521851 |
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PAN No: |
AFQPK9835A |
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|
|
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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 29.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
720000 |
Equity Shares |
INR 10/- each |
INR 7.200 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
571666 |
Equity Shares |
INR 10/- each |
INR 5.717
Million |
|
|
|
|
|
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 |
5.717 |
5.717 |
5.717 |
|
(b) Reserves & Surplus |
58.519 |
60.241 |
62.648 |
|
(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) |
64.236 |
65.958 |
68.365 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
2.011 |
1.483 |
1.870 |
|
(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) |
2.011 |
1.483 |
1.870 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
1.342 |
0.055 |
1.275 |
|
(c) Other
current liabilities |
0.030 |
0.005 |
0.000 |
|
(d) Short-term
provisions |
2.609 |
2.493 |
0.773 |
|
Total Current
Liabilities (4) |
3.981 |
2.553 |
2.048 |
|
|
|
|
|
|
TOTAL |
70.228 |
69.994 |
72.283 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
26.460 |
26.423 |
27.709 |
|
(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 |
0.000 |
5.000 |
5.000 |
|
(c) Deferred tax assets (net) |
1.012 |
0.903 |
0.805 |
|
(d)
Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
27.472 |
32.326 |
33.514 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
25.190 |
23.858 |
15.851 |
|
(b)
Inventories |
4.390 |
4.594 |
9.273 |
|
(c) Trade
receivables |
1.240 |
3.467 |
0.675 |
|
(d) Cash
and cash equivalents |
9.422 |
3.827 |
8.103 |
|
(e)
Short-term loans and advances |
2.514 |
1.922 |
4.867 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
42.756 |
37.668 |
38.769 |
|
|
|
|
|
|
TOTAL |
70.228 |
69.994 |
72.283 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Other Income |
16.294 |
31.864 |
21.111 |
|
|
Other operating revenues |
2.111 |
2.451 |
1.765 |
|
|
TOTAL |
18.405 |
34.315 |
22.876 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Material Consumed |
11.511 |
16.104 |
14.939 |
|
|
Purchases of
Stock-in-Trade |
0.000 |
0.000 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(2.779) |
4.679 |
(1.979) |
|
|
Employees benefits
expense |
4.475 |
5.746 |
4.406 |
|
|
Other Administrative
expenses |
3.050 |
4.364 |
2.551 |
|
|
Extraordinary items |
(0.111) |
0.000 |
0.086 |
|
|
TOTAL |
16.146 |
30.893 |
20.003 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
2.259 |
3.422 |
2.873 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
0.275 |
0.162 |
0.104 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
1.984 |
3.260 |
2.769 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.979 |
1.864 |
1.425 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
0.005 |
1.396 |
1.344 |
|
|
|
|
|
|
|
Less |
TAX |
0.006 |
(0.098) |
(0.049) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
(0.001) |
1.494 |
1.393 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
16.077 |
30.243 |
18.531 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
0.00 |
2.61 |
2.44 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash Flow generated from
operating activities |
NA |
(1.130) |
NA |
|
Net cash flow from operating activity |
NA |
(3.311) |
NA |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
27.78 |
39.71 |
11.67 |
|
|
|
|
|
|
Account Receivables Turnover ( Income / Sundry Debtors) |
13.14 |
9.19 |
31.28 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
42.55 |
1.25 |
31.15 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.51 |
0.74 |
0.31 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.09 |
0.13 |
0.10 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.09 |
0.06 |
0.05 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.03 |
0.02 |
0.03 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.06 |
0.04 |
0.03 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.41 |
0.40 |
0.41 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
8.21 |
21.12 |
27.63 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin [(PAT / Sales)
* 100] |
% |
(0.01) |
4.69 |
6.60 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
0.00 |
2.13 |
1.93 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
0.00 |
2.27 |
2.04 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
10.74 |
14.75 |
18.93 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
9.64 |
12.95 |
14.40 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.91 |
0.94 |
0.95 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.35 |
0.26 |
0.33 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
10.74 |
14.75 |
18.93 |
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 |
5.717 |
5.717 |
5.717 |
|
Reserves & Surplus |
62.648 |
60.241 |
58.519 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
68.365 |
65.958 |
64.236 |
|
|
|
|
|
|
long-term borrowings |
1.870 |
1.483 |
2.011 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
1.870 |
1.483 |
2.011 |
|
Debt/Equity
ratio |
0.027 |
0.022 |
0.031 |
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 |
21.111 |
31.864 |
16.294 |
|
|
|
50.936 |
(48.864) |
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 |
21.111 |
31.864 |
16.294 |
|
Profit/(Loss) |
1.393 |
1.494 |
-0.001 |
|
|
6.60% |
4.69% |
-0.01% |
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 |
No |
|
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 |
NOTE: The registered office of the company
has been shifted from “60 Beck Bagan Row, Kolkata – 700017,
West Bengal, India” to the present address w.e.f.18.06.2010.
INDEX
OF CHARGES
|
Charges Registered |
||||||||
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G70098751 |
90252872 |
Vijaya Bank |
23/07/2003 |
02/05/2005 |
07/12/2017 |
9500000.0 |
Overseas Branch,125/1 Park Street, Kolkata -700017, West Bengal, India |
|
2 |
G70162045 |
90250728 |
Vijaya Bank |
08/06/2004 |
10/03/2005 |
07/12/2017 |
5354788.0 |
Overseas Branch,125/1 Park Street, Kolkata -700017, West Bengal, India |
|
3 |
G70490420 |
90250727 |
Vijaya Bank |
25/05/2004 |
10/03/2005 |
07/12/2017 |
5354788.0 |
Overseas Branch,125/1 Park Street, Kolkata -700017, West Bengal, India |
FIXED ASSETS
·
Air conditioner
·
Plant and Machinery
·
Furniture and Fixtures
·
Office Equipment
·
Computer
·
Land
·
Motor Car
·
Electricity for Plant and
Machinery
·
Land and Building at
Topsia
·
Flat (Queens Park)
·
Refrigerator
·
Fax
·
Water Dispenser
·
Cycle
·
Air Compressor Machine
·
Flat (DLF New Town)
·
Fixed Assets PFO a/c
·
EPBX
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
|
INR |
|
US Dollar |
1 |
INR 64.14 |
|
|
1 |
INR 89.50 |
|
Euro |
1 |
INR 79.43 |
INFORMATION DETAILS
|
Information Gathered
by : |
SHK |
|
|
|
|
Analysis Done by
: |
NSG |
|
|
|
|
Report Prepared
by : |
PVG |
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.