|
|
|
MIRA INFORM REPORT
|
Report No. : |
494814 |
|
Report Date : |
27.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
PARAS DYEING AND PRINTING MILLS |
|
|
|
|
Registered
Office : |
240, Kewal Industrial Estate, S.B. Marg, Lower Parel (West),
Mumbai-400013, Maharashtra |
|
Tel. No.: |
91-22-66608283 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Year of
Establishment : |
01.04.2002 |
|
|
|
|
Capital Investment
: |
INR 121.727 Million |
|
|
|
|
IEC No.: [Import-Export Code No.] |
0309039932 |
|
|
|
|
TIN No.: |
27981061559 |
|
|
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VAT No : |
27981061559V |
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|
|
|
PAN No.: [Permanent Account No.] |
AAFFP9516P |
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|
|
|
GSTN : [Goods & Service Tax Registration
No.] |
27AAFFP9516P1ZI |
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|
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|
Legal Form : |
Partnership Concern with an unlimited liability of the partners |
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|
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Line of Business
: |
Manufacturer and Exporter of Ladies Garment like Women’s Night Wear, Ladies
Gown, Ladies Pajama Sets, etc. [Confirmed by management] |
|
|
|
|
No. of Employees
: |
55 (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 |
|
Maximum Credit Limit: |
USD 350000 |
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|
|
|
Status : |
Satisfactory |
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|
|
|
Payment Behaviour : |
Usually Correct |
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|
|
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Litigation : |
Clear |
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|
|
Comments : |
Subject was established in the year 2002 as a partnership firm and it is engaged into manufacturing of readymade garments for women and processing of fabric. As per available financials of March 2017, the company has registered a growth of 18.26% in its revenue as compared to its previous year’s revenue and has reported to be minimal profit margin 0.62% under review. Rating takes into consideration the subject’s established track record of business operations marked by sound capital base along with stores debt coverage indicators and favourable gap between its trade receivables to its trade payables. Rating also takes into account vast experience of its partners in textile industry and its established relationship with its clientele. However, rating strength is partially offset by its presence fragmented textile industry. Payments are seems to be usually correct. In view of aforesaid, the subject 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 (30.09.2017) |
Current Rating (31.12.2017) |
|
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
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating = BB- |
|
Rating Explanation |
Moderate risk of default |
|
Date |
06.02.2018 |
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 Reconstructions) 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 27.02.2018
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 PARTED BY
|
Name : |
Mr. Vijay Gupta |
|
Designation : |
Accountant |
|
Contact No.: |
91-8425079260 |
|
|
|
|
Name : |
Mr. Anand Golecha |
|
Designation : |
Partner |
|
Contact No.: |
91-9167331686 |
|
Date: |
27.02.2018 |
LOCATIONS
|
Registered Office : |
240, Kewal Industrial Estate, S.B. Marg, Lower Parel (West),
Mumbai-400013, Maharashtra, India |
|
Tel. No.: |
91-22-66608283 |
|
Mobile No.: |
91-8425079260 (Mr. Vijay Gupta) 91-9167331686 (Mr. Anand Golecha) |
|
Fax No.: |
91-22-66608284 |
|
E-Mail : |
|
|
Website : |
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|
Area : |
800 Sq. ft. |
|
Location : |
Owned |
|
Locality : |
Industrial |
|
|
|
|
Factory : |
F-252, Industrial Area, III Phase, Balotra – 344022, Rajasthan, India |
|
Location : |
Owned |
|
|
|
|
Branches : |
No. 5, Cotton Mill Main Road, P. N. Road, Tirupur– 641602,Tamilnadu, India |
PARTNERS
|
Name : |
Mr. Anand Golecha |
|
Designation : |
Partner |
|
Address : |
42 Voilet Villa, Vest Avenue, Santacruz (West), Mumbai-400054,
Maharashtra, India |
|
|
|
|
Name : |
Mr. Parasmal Pukhraj Golecha |
|
Designation : |
Partner |
|
Address : |
42 Voilet Villa, Vest Avenue, Santacruz (West), Mumbai-400054,
Maharashtra, India |
|
|
|
|
Name : |
Mr. Mahendra Golecha |
|
Designation : |
Partner |
|
Address : |
42 Voilet Villa, Vest Avenue, Santacruz (West), Mumbai-400054,
Maharashtra, India |
|
|
|
|
Name : |
Mr. Pravin Golecha |
|
Designation : |
Partner |
|
Address : |
42 Voilet Villa, Vest Avenue, Santacruz (West), Mumbai-400054,
Maharashtra, India |
KEY EXECUTIVES
|
Name : |
Mr. Vijay Gupta |
|
Designation : |
Accountant |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Ladies Garment Like Women’s Night Wear,
Ladies Gown, Ladies Pajama Sets, etc. [Confirmed by
management] |
|
|
|
|
Products : |
·
Women’s Night Wear ·
Ladies Gown ·
Ladies Pajama Sets |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
|
|
Products : |
Finished goods |
|
Countries : |
|
|
|
|
|
Imports : |
Not Available |
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|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
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|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
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Retailers, End Users
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No. of Employees : |
55 (Approximately) |
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Bankers : |
|
|
Auditors : |
|
|
Name : |
V. N. Talati and Company Chartered Accountants |
|
Address : |
Mumbai |
|
|
|
|
Collaborators : |
Not Available |
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|
|
|
Membership : |
Not Available |
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|
|
|
Sister Concern : |
-- |
CAPITAL STRUCTURE
As on 31.03.2017
|
Particular |
INR In Million |
|
Anand P. Goleeha |
26.913 |
|
Mahendra P. Goleeha |
30.049 |
|
Parasmal P. Goleeha |
35.928 |
|
Pravin P. Goleeha |
28.837 |
|
Total |
121.727 |
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Partner’s Capital |
121.727 |
48.578 |
23.376 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
121.727 |
48.578 |
23.376 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Bank OD A/c |
45.274 |
67.820 |
50.708 |
|
|
2] Secured Loans |
2.130 |
2.596 |
1.165 |
|
|
2] Unsecured Loans |
30.685 |
29.931 |
16.572 |
|
|
TOTAL BORROWING |
78.089 |
100.347 |
68.445 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
199.816 |
148.925 |
91.821 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
9.114 |
9.447 |
8.183 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.009 |
10.009 |
0.009 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
37.146 |
59.372
|
33.164
|
|
|
Sundry Debtors |
155.674 |
80.468
|
50.036
|
|
|
Cash & Bank Balances |
0.090 |
0.190
|
0.197
|
|
|
Other Current Assets |
0.000
|
0.060
|
0.110
|
|
|
Loans & Advances |
1.832 |
0.660
|
5.175
|
|
Total
Current Assets |
194.742 |
131.471 |
140.750
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
3.746 |
55.936
|
17.058
|
|
|
Duties and Taxes |
0.303 |
1.185
|
0.160
|
|
Total
Current Liabilities |
4.049 |
2.002 |
57.121
|
|
|
Net Current Assets |
190.693 |
129.469 |
83.629
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
199.816 |
148.925 |
91.821 |
|
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
373.613 |
315.927 |
284.615 |
|
|
Other Income |
0.356 |
0.132 |
0.099 |
|
|
TOTAL |
373.969 |
316.059 |
284.714 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost
of Goods Sold |
258.568 |
220.737 |
193.411 |
|
|
Clearing
Charges |
0.000 |
0.000 |
0.000 |
|
|
process charges |
65.796 |
53.381 |
0.000 |
|
|
Colour
& Chemical |
0.165 |
0.624 |
3.735 |
|
|
Design
Development Charges |
0.389 |
0.830 |
0.424 |
|
|
Dhupai
T. D. Silicate |
0.000 |
0.000 |
0.075 |
|
|
Duty
& Taxes |
0.000 |
0.000 |
0.000 |
|
|
Electricity
Charges |
0.272 |
0.191 |
0.274 |
|
|
Packing
Material |
0.000 |
0.833 |
4.382 |
|
|
Process
& Labour Charges |
0.000 |
0.000 |
48.969 |
|
|
Sample
Purchase |
0.080 |
0.143 |
0.267 |
|
|
Testing
Charges |
0.388 |
0.434 |
0.262 |
|
|
Transport
Charges – Direct |
3.850 |
3.510 |
2.903 |
|
|
Wages |
0.841 |
0.235 |
0.892 |
|
|
Washing
& Finishing Expenses |
0.000 |
0.000 |
0.000 |
|
|
Water
Expenses |
0.074 |
0.056 |
0.138 |
|
|
Wood
& Fuel A/c |
0.037 |
0.117 |
0.556 |
|
|
Advertisement
A/c |
0.348 |
0.184 |
0.029 |
|
|
Assess
Tax- Sales Tax |
0.000 |
0.000 |
0.000 |
|
|
Commission
& Brokerage |
2.031 |
1.306 |
1.399 |
|
|
Computer
Expenses |
0.000 |
0.000 |
0.000 |
|
|
Conveyance |
0.322 |
0.386 |
0.196 |
|
|
Discount
& Rate Difference |
1.514 |
5.421 |
5.405 |
|
|
Donation |
0.010 |
0.015 |
0.000 |
|
|
Electricity
Charges Office |
0.363 |
0.308 |
0.410 |
|
|
E.S.I.
Expense |
0.013 |
0.013 |
0.037 |
|
|
goods checking |
0.147 |
0.569 |
0.000 |
|
|
Forex
Gain or Loss A/c |
0.000 |
0.000 |
0.030 |
|
|
Interest
Paid to Partner |
8.296 |
4.065 |
3.491 |
|
|
Legal
Charges |
0.230 |
0.199 |
0.080 |
|
|
Machinery
Expenses |
0.121 |
0.149 |
0.111 |
|
|
Medical
Expenses |
0.028 |
0.011 |
0.006 |
|
|
Membership
Fees |
0.017 |
0.005 |
0.003 |
|
|
Motor
Car Expenses |
0.222 |
0.262 |
0.207 |
|
|
Octroi
Charges |
0.000 |
0.000 |
0.017 |
|
|
Office
Expenses. |
0.724 |
0.669 |
0.416 |
|
|
Packing
Charges |
0.528 |
0.577 |
0.199 |
|
|
Penalty
|
0.000 |
0.000 |
0.005 |
|
|
Postage
& Courier Charges |
0.209 |
0.222 |
0.180 |
|
|
Printing
& Stationery Expenses |
0.194 |
0.245 |
0.225 |
|
|
Rent
A/c |
2.729 |
1.576 |
1.441 |
|
|
Repair
& Maintenance Charges |
0.783 |
0.502 |
0.650 |
|
|
RICCO
Services Charges |
0.049 |
0.045 |
0.088 |
|
|
Salary |
4.442 |
2.876 |
2.177 |
|
|
Sales
Promotion Expenses |
0.576 |
0.355 |
0.270 |
|
|
Service
Tax |
0.019 |
0.002 |
0.011 |
|
|
society maintain |
0.151 |
0.000 |
0.000 |
|
|
Staff
Welfare Expenses |
0.352 |
0.313 |
0.302 |
|
|
Telephone
Expenses |
0.183 |
0.192 |
0.259 |
|
|
sundry expen |
0.117 |
0.092 |
0.000 |
|
|
Transport
Charges |
3.623 |
2.237 |
1.692 |
|
|
Travelling
Expenses |
0.360 |
0.669 |
0.506 |
|
|
water pollution |
0.011 |
0.075 |
0.000 |
|
|
Warehousing
Charges |
0.000 |
0.000 |
0.000 |
|
|
TOTAL |
359.172 |
304.634 |
276.130 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
14.797 |
11.425 |
8.584 |
|
|
|
|
|
|
|
|
FINANCIAL
EXPENSES |
11.318 |
9.052 |
6.557 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
3.479 |
2.373 |
2.027 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1.162 |
1.038 |
0.935 |
|
|
|
|
|
|
|
|
NET PROFIT |
2.317 |
1.335 |
1.092 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
152.09 |
92.97 |
64.17 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
2.40 |
3.93 |
5.69 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
5.29 |
92.49 |
32.19 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.40 |
0.19 |
0.26 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
1.62 |
1.21 |
1.05 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.40 |
0.76 |
0.79 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.64 |
2.07 |
2.93 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.29 |
1.79 |
1.45 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.07 |
0.19 |
0.35 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
1.31 |
1.26 |
1.31 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
PAT to sales (PAT
/Sales) * 100) |
% |
0.62 |
0.42 |
0.38 |
|
|
|
|
|
|
|
Return on Total Assets (PAT / Total Assets) * 100) |
% |
1.14 |
0.65 |
1.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PAT / Networth) * 100) |
% |
1.90 |
2.75 |
4.67 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
5.61 |
2.14 |
2.98 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
4.54 |
1.46 |
2.00 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.60 |
0.24 |
0.21 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.64 |
2.07 |
2.93 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
5.61 |
2.14 |
2.98 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Partners Capital |
23.376 |
48.578 |
121.727 |
|
Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
Net worth |
23.376 |
48.578 |
121.727 |
|
|
|
|
|
|
Secured borrowings |
51.873 |
70.416 |
47.404 |
|
Unsecured borrowings |
16.572 |
29.931 |
30.685 |
|
Total borrowings |
68.445 |
100.347 |
78.089 |
|
Debt/Equity ratio |
2.928 |
2.066 |
0.642 |
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 |
284.615 |
315.927 |
373.613 |
|
|
|
11.002 |
18.259 |
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 |
284.615 |
315.927 |
373.613 |
|
Profit |
1.092 |
1.335 |
2.317 |
|
|
0.38% |
0.42% |
0.62% |
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 |
Yes |
|
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 |
No |
|
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) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
No |
|
18 |
Major suppliers |
Yes |
|
19 |
Major customers |
Yes |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
No |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
No |
|
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 |
No |
|
30 |
Major shareholders, if available |
No |
|
31 |
External Agency Rating, if available |
Yes |
|
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 |
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 64.85 |
|
|
1 |
INR 90.58 |
|
Euro |
1 |
INR 79.76 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYA |
|
|
|
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
NKTS |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--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.
·