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|
MIRA INFORM REPORT
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Report No. : |
516643 |
|
Report Date : |
25.06.2018 |
IDENTIFICATION DETAILS
|
Name : |
STANDARD RETAIL PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
2/3, Ashok Chambers, Devji Ratansy Marg, Masjid (East), Mumbai-400009,
Maharashtra |
|
Tel. No.: |
91-22-43430300 |
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|
Country : |
India |
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|
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|
Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
05.05.2010 |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51101MH2010PTC202778 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 38.200 Million |
|
|
|
|
IEC No.: [Import-Export Code No.] |
0313034397 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAOCS2064H |
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|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
27AAOCS2064H1Z4 |
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|
Legal Form : |
Private Limited Liability Company. |
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Line of Business
: |
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No. of Employees
: |
230 (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 |
|
Status : |
Satisfactory |
|
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|
Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 2010. It is a manufacturer, trader,
exporter and importer of steel products. As per the financial records of 2017, the company has achieved a
satisfactory growth of 31.48% in its revenue as compared to the previous year
and has reported a low profitability margin of 0.71%. The company possesses healthy financial profile marked by sound net
worth base. However, rating is constrained on account of slightly high debt
balance sheet profile. Rating is further constrained on account of the company’s operations
in highly competitive and fragmented steel industry marked by its
susceptibility to cyclicality inherent in its end-users industry and its
moderately large working capital requirements. Business is active. Payment seems to be slow. In view of aforesaid, the company can be considered for business
dealings 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long Term Loans = BBB+ |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk |
|
Date |
11.10.2017 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short Term Loans = A3+ |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk |
|
Date |
11.10.2017 |
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
31-03-2018.
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 25.06.2018.
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. Bala Sakpal |
|
Designation : |
Finance Head |
|
Contact No.: |
91-22-43430300 |
|
Date : |
23.06.2018 |
LOCATIONS
|
Registered Office : |
2/3, Ashok Chambers, Devji Ratansy Marg, Masjid (East), Mumbai-400009,
Maharashtra, India |
|
Tel. No.: |
91-22-43430300 |
|
Fax No.: |
91-22-43430333 |
|
E-Mail : |
|
|
Website : |
|
|
Location: |
Owned |
|
Locality: |
Commercial |
|
|
|
|
Factory : |
E-5, MIDC Road, Taloja, Navi Mumbai, District Raigad-410208, Maharashtra, India |
DIRECTORS
As on 31.03.2018
|
Name : |
Mr. Nikunj Mansukhlal Turakhia |
|
Designation : |
Director |
|
Address : |
141, Shaan Apartment, Kashinath Dhuru Road, Dadar (West), Mumbai -
400028, Maharashtra, India |
|
Date of Birth/Age : |
18.08.1962 |
|
Qualification: |
Metallurgical Engineer from IIT Bombay |
|
Date of Appointment : |
05.05.2010 |
|
PAN No.: |
AABPT1260A |
|
DIN No. : |
00082170 |
|
|
|
|
Name : |
Mr. Parth Nikunj Turakhia |
|
Designation : |
Director |
|
Address : |
Flat No. 141, shan Apartments, 14th Floor, Kashinath Dhuru
Street, Prabhadevi, Mumbai – 400028, Maharashtra, India |
|
Date of Birth: |
10.02.1993 |
|
Qualification: |
B.Sc. In Business Adiministration (Finance) |
|
Date of Appointment : |
30.09.2014 |
|
PAN No.: |
ANFPT3829E |
|
DIN No. : |
05253313 |
KEY EXECUTIVES
|
Name : |
Mr. Bala Sakpal |
|
Designation : |
Finance Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Nikunj Mansukhlal Turakhia |
|
362900 |
|
Heena N. Turakhia |
|
191000 |
|
Nikunj Mansukhlal Turakhia – Karta of Nikunj M Turakhia - HUF |
|
171900 |
|
Standard Conduits Private Limited |
|
1547100 |
|
Standard Galva Steel Private Limited |
|
1298800 |
|
Turakhia Steels Private Limited |
|
248300 |
|
|
|
|
|
Total |
|
3820000 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2017
|
Category |
Percentage |
|
Promoter – (Individual/ Hindu Undivided
Family – Indian) |
19.00 |
|
Promoter - Bodies
corporate |
81.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
Cash, L/C and Credit (30/60 days) |
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Purchasing : |
Cash, L/C and Credit (30/60 days) |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Wholesalers, Retailers, End Users
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No. of Employees : |
230 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
|
|
Name : |
Manish Modi and Associates Chartered Accountants |
|
Address : |
Gita Building, 2nd Floor, Plot No. 92, Next To HP Petrol Pump, Sion
Circle, Sion (East), Mumbai – 400022, Maharashtra, India |
|
Tel. No.: |
91-22-24026648 / 24085928 |
|
Fax No.: |
91-22-24026648 |
|
E-Mail : |
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|
Income-tax
PAN of auditor or auditor's firm : |
AAOFM4644C |
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|
|
|
Memberships : |
Not Available |
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|
|
|
Collaborators : |
Not Available |
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|
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|
Enterprises which are
owned, or have significant influence of or are partners with Key management
personnel and their relatives : |
U27106MH2008PTC179071
U70100MH2004PTC150318
U25200MH1995PTC089966
U63823MH1985PTC035018
U27100MH2002PTC134754
|
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5010000 |
Equity Shares |
INR 10/- each |
INR 50.100 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3820000 |
Equity Shares |
INR 10/- each |
INR 38.200
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees 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 |
38.200 |
38.200 |
19.100 |
|
(b) Reserves and Surplus |
746.244 |
686.126 |
349.521 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
(d) Minority interest |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
272.108 |
|
Total
Shareholders’ Funds (1) + (2) |
784.444 |
724.326 |
640.729 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
1.214 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
3.589 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
0.000 |
0.000 |
4.803 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short-term
borrowings |
2572.440 |
2363.491 |
2763.975 |
|
(b) Trade
payables |
158.791 |
202.572 |
188.580 |
|
(c) Other
current liabilities |
105.632 |
10.484 |
54.773 |
|
(d) Short-term
provisions |
9.742 |
0.000 |
2.553 |
|
Total Current
Liabilities (4) |
2846.605 |
2576.547 |
3009.881 |
|
|
|
|
|
|
TOTAL |
3631.049 |
3300.873 |
3655.413 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1.563 |
1.715 |
0.092 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Tangible assets
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 |
10.013 |
0.013 |
0.013 |
|
(c) Deferred tax assets (net) |
0.142 |
0.104 |
0.028 |
|
(d)
Long-term loans and advances |
1.424 |
1.709 |
0.384 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
13.142 |
3.541 |
0.517 |
|
|
|
|
|
|
(2) Current
assets |
|
|
|
|
(a)
Current investments |
0.000 |
30.000 |
0.000 |
|
(b)
Inventories |
1125.781 |
1028.052 |
1265.505 |
|
(c) Trade
receivables |
1683.763 |
1490.849 |
1471.360 |
|
(d) Cash and
bank balances |
525.813 |
465.148 |
517.928 |
|
(e) Short-term
loans and advances |
263.565 |
271.946 |
377.250 |
|
(f) Other
current assets |
18.985 |
11.337 |
22.853 |
|
Total
Current Assets |
3617.907 |
3297.332 |
3654.896 |
|
|
|
|
|
|
TOTAL |
3631.049 |
3300.873 |
3655.413 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
8499.500 |
6464.475 |
6330.311 |
|
|
Other Income |
86.437 |
63.936 |
18.926 |
|
|
TOTAL |
8585.937 |
6528.411 |
6349.237 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Purchases of
Stock-in-Trade |
7948.634 |
5199.619 |
6146.301 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(97.729) |
237.453 |
(822.469) |
|
|
Employee benefit expense |
53.721 |
21.160 |
21.866 |
|
|
Other expenses |
407.822 |
797.404 |
958.383 |
|
|
TOTAL |
8312.448 |
6255.636 |
6304.081 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
273.489 |
272.775 |
45.156 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
184.576 |
239.213 |
(2.539) |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
88.913 |
33.562 |
47.695 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.294 |
0.209 |
0.060 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
88.619 |
33.353 |
47.635 |
|
|
|
|
|
|
|
Less |
TAX |
28.501 |
11.898 |
15.487 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
60.118 |
21.455 |
32.148 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
15.738 |
5.616 |
16.831 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
0.000 |
0.000 |
0.000 |
|
Net cash flows from (used in) operations |
1.385 |
536.291 |
(2398.793) |
|
Net cash flows from (used in) operating activities |
(18.029) |
521.189 |
(2411.755) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days [Sundry Debtors / Income * 365] |
|
72.31 |
84.18 |
84.84 |
|
|
|
|
|
|
|
Account Receivables Turnover [Income / Sunday Debtors] |
|
5.05 |
4.34 |
4.30 |
|
|
|
|
|
|
|
Average Payment Days [Sundry Creditors /
Purchases * 365] |
|
7.29 |
14.22 |
11.20 |
|
|
|
|
|
|
|
Inventory Turnover [Operating Income /
Inventories] |
|
0.24 |
0.27 |
0.04 |
|
|
|
|
|
|
|
Asset Turnover [Operating Income / Net Fixed
Assets] |
|
174.98 |
159.05 |
490.83 |
LEVERAGE RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio [(Borrowing + Current Liabilities) / Total Assets] |
|
0.78 |
0.78 |
0.82 |
|
|
|
|
|
|
|
Debt Equity Ratio (Borrowings / NetWorth) |
|
3.28 |
3.26 |
4.32 |
|
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / NetWorth) |
|
3.63 |
3.56 |
4.70 |
|
|
|
|
|
|
|
Fixed Assets to NetWorth (Net Fixed Assets /
NetWorth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Interest Coverage Ratio [PBIT / Financial
Charges] |
|
1.48 |
1.14 |
(17.78) |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin [(PAT / Sales) * 100] |
(%) |
0.71 |
0.33 |
0.51 |
|
|
|
|
|
|
|
Return on Total Assets [(PAT / Total Assets)
* 100] |
(%) |
1.66 |
0.65 |
0.88 |
|
|
|
|
|
|
|
Return on Investment (ROI) [(PAT / NetWorth)
* 100] |
(%) |
7.66 |
2.96 |
5.02 |
SOLVENCY RATIO
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio [Current Assets / Current Liabilities] |
|
1.27 |
1.28 |
1.21 |
|
|
|
|
|
|
|
Quick Ratio [(Current Assets - Inventories)
/ Current Liabilities] |
|
0.88 |
0.88 |
0.79 |
|
|
|
|
|
|
|
G-Score Ratio Financial [NetWorth / Total
Assets] |
|
0.22 |
0.22 |
0.18 |
|
|
|
|
|
|
|
G-Score Ratio Debt [Debts / Equity Capital] |
|
67.34 |
61.87 |
144.77 |
|
|
|
|
|
|
|
G-Score Ratio Liquidity [Total Current
Assets / Total Current Liabilities] |
|
1.27 |
1.28 |
1.21 |
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 |
19.100 |
38.200 |
38.200 |
|
Reserves & Surplus |
349.521 |
686.126 |
746.244 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
272.108 |
0.000 |
0.000 |
|
Net
worth |
640.729 |
724.326 |
784.444 |
|
|
|
|
|
|
Long-term borrowings |
1.214 |
0.000 |
0.000 |
|
Short term borrowings |
2763.975 |
2363.491 |
2572.440 |
|
Current maturities of
long-term debts |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
2765.189 |
2363.491 |
2572.440 |
|
Debt/Equity
ratio |
4.316 |
3.263 |
3.279 |
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 |
6330.311 |
6464.475 |
8499.500 |
|
|
0.000 |
2.119 |
31.480 |
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 |
6330.311 |
6464.475 |
8499.500 |
|
Profit/ (Loss) |
32.148 |
21.455 |
60.118 |
|
|
0.51
% |
0.33
% |
0.71
% |
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 |
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) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
Yes |
|
19 |
Major customers |
Yes |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last 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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOAN
|
Unsecured Loan |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Short-term
borrowings |
|
|
|
Other loans and advances |
122.119 |
127.157 |
|
Loans and advances from others |
18.801 |
20.000 |
|
|
|
|
|
Total |
140.920 |
147.157 |
INDEX
OF CHARGES:
|
Charges Registered |
||||||||
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
C17278896 |
10515928 |
Bank of India |
06/08/2014 |
- |
- |
300000000.0 |
Mumbai Mid Corporate Branch, Bank of India Bldg., Mezzanine Floor, 70-80 M. G. Road, Fort, Mumbai MH 400001 IN |
|
2 |
G80228026 |
10501631 |
SBICAP TRUSTEE COMPANY LIMITED |
08/05/2014 |
27/02/2018 |
- |
3750000000.0 |
202, Maker Tower, 'E' Cuffe Parade, Mumbai MH 400005 IN |
FIXED ASSETS
- Buildings
- Office equipment
- Computer equipment
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 67.77 |
|
|
1 |
INR 89.96 |
|
Euro |
1 |
INR 78.86 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared
by : |
JYO |
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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--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.