|
|
|
MIRA INFORM REPORT
|
Report No. : |
497934 |
|
Report Date : |
15.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
MANISHA ENGINEERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. 15 and 16, Gat No 281/1, Ghotwade Phata, Kasar Amboli
Pirangut,
Taluka Mulashi, District Pune – 412108, Maharashtra |
|
Tel. No.: |
91-20-65271082 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
08.12.1993 |
|
|
|
|
Com. Reg. No.: |
25-075522 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 8.390 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74211PN1993PTC075522 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Applicable (As informed by the management that firm does
not have export and import) |
|
|
|
|
TIN No: |
27360039617 |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
27AABCM1612N1Z1 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCM1612N |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Distribution Transformers, Power Transformers and also
service provider of Turnkey Electrical projects. (Registered Activity and
also Confirmed by management) |
|
|
|
|
No. of Employees
: |
52 (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 |
|
|
|
|
Payment Behaviour : |
Slow but correct |
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|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company incorporated in the year 1993 and is
having satisfactory track records. For the financial year 2017, the company has registered decrease its revenue
from operation as compared to previous year but maintained average
profitability margin of 1.93%. Rating takes into consideration sound financial profile of the company
marked by adequate networth base along with average debt balance sheet. Further, rating also reflects from its established track records of
business operations. However, rating strength is partially offset by sharply decline in the
profitability and revenue profile during the year. Trade relations are reported as fair. Payments are seems to slow but
correct. In view of aforesaid, the company can be considered 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 |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
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 15.03.2018
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.
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.
INFORMATION PARTED BY
|
Name : |
Mr. Avinash Atre |
|
Designation : |
DGM Finance |
|
Contact No.: |
91-9922999247 |
|
Date : |
14.03.2018 |
LOCATIONS
|
Registered Office/ Factory : |
Plot No. 15 and 16, Gat No 281/1, Ghotwade Phata, Kasar Amboli
Pirangut,
Taluka Mulashi, District Pune – 412108, Maharashtra, India |
|
Tel. No.: |
91-20-65271082 |
|
Mobile No.: |
91-9922999247 (Mr. Avinash Atre) |
|
Fax No.: |
91-20-25433774 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
2500 Sq. ft. |
|
Location : |
Owned |
|
Locality : |
Commercial |
|
|
|
|
Sales office: |
19, Nayana Apartment, 2nd Floor, Ideal Colony, Poud Road, Kothurd,
Pune, Maharashtra, India |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mrs. Nalini Sharad Deshpande |
||||||||
|
Designation : |
Director |
||||||||
|
Address : |
Flat No. 16, Nayana Apartments, Ideal Colony, Kothrud, Pune – 411029, Maharashtra, India |
||||||||
|
Date of Birth/Age : |
27.01.1940 |
||||||||
|
Date of Appointment : |
25.12.1993 |
||||||||
|
DIN No.: |
00228939 |
||||||||
|
|
|
||||||||
|
Name : |
Mrs. Neelambari Milind Deshpande |
||||||||
|
Designation : |
Director |
||||||||
|
Address : |
Flat No. 16, Nayana Apartments, Ideal Colony, Kothrud, Pune – 411029, Maharashtra, India |
||||||||
|
Date of Birth/Age : |
17.11.1970 |
||||||||
|
Date of Appointment : |
16.07.2011 |
||||||||
|
DIN No.: |
00115143 |
||||||||
|
Other Directorship:
|
|||||||||
KEY EXECUTIVES
|
Name : |
Mr. Avinash Atre |
|
Designation : |
DGM Finance |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Milind Sharad Deshpande |
|
10093 |
|
Nalini Sharad Deshpande |
|
3541 |
|
Sharad Gopalrao Deshpande |
|
3501 |
|
Neeraj Engineers Industries Private Limited, India |
|
1350 |
|
Suman Shrikrishna Kulkarni |
|
3551 |
|
Neelambari Milind Deshpande |
|
2030 |
|
Total |
|
24066 |
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
5.61 |
|
Directors or relatives of Directors |
94.39 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Distribution Transformers, Power Transformers and also
service provider of Turnkey Electrical projects. (Registered Activity and
also Confirmed by management) |
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|
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Products/ Services: |
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Brand Names : |
Not Available |
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|
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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|
||||||||
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Imports : |
Not Available |
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|
|
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Terms : |
|
||||||||
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Selling : |
L/C and Cheque |
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|
|
||||||||
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Purchasing : |
L/C and Cheque |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
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|
||||||||||||||||||||||
|
Customers : |
End Users
|
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No. of Employees : |
52 (Approximately) |
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|
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|
Bankers : |
|
|
Auditors : |
|
|
Name : |
Mahesh Sardesai Chartered Accountant |
|
Address : |
A-5, Shree Lawns Co-Operative Housing Society, Nagargaon, Lonavla, Pune
– 410401, Maharashtra, India |
|
Tel No: |
91-2114/ 272708 |
|
E-Mail : |
|
|
PAN No.: |
AUCPS6467M |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding Company/ Associates/ Subsidiary: |
-- |
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital : INR 8.390
million
As on 31.03.2015
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000 |
Equity Shares |
INR 100/- each |
INR 2.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
24066 |
Equity Shares |
INR 100/- each |
INR 2.407
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 |
8.390 |
8.390 |
2.407 |
|
(b) Reserves & Surplus |
60.847 |
57.888 |
47.022 |
|
(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) |
69.237 |
66.278 |
49.429 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
73.252 |
69.867 |
68.973 |
|
(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) |
73.252 |
69.867 |
68.973 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
175.092 |
283.015 |
221.572 |
|
(c) Other
current liabilities |
33.512 |
36.561 |
43.063 |
|
(d) Short-term
provisions |
23.936 |
46.140 |
57.365 |
|
Total Current
Liabilities (4) |
232.540 |
365.716 |
322.000 |
|
|
|
|
|
|
TOTAL |
375.029 |
501.861 |
440.402 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
14.189 |
16.503 |
20.485 |
|
(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 |
0.006 |
0.006 |
0.006 |
|
(c) Deferred tax assets (net) |
2.606 |
2.555 |
3.188 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other
Non-current assets |
1.100 |
1.198 |
1.422 |
|
Total Non-Current
Assets |
17.901 |
20.262 |
25.101 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
203.794 |
164.508 |
126.082 |
|
(c) Trade
receivables |
129.622 |
272.199 |
252.100 |
|
(d) Cash
and cash equivalents |
8.251 |
7.074 |
4.585 |
|
(e)
Short-term loans and advances |
15.461 |
37.818 |
32.534 |
|
(f) Other current
assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
357.128 |
481.599 |
415.301 |
|
|
|
|
|
|
TOTAL |
375.029 |
501.861 |
440.402 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
153.605 |
367.745 |
345.717 |
|
|
Other Income |
0.381 |
0.131 |
1.231 |
|
|
TOTAL
|
153.986 |
367.876 |
346.948 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
64.209 |
102.765 |
87.532 |
|
|
Purchases of Stock-in-Trade |
76.002 |
237.562 |
194.843 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(35.366) |
(49.894) |
(32.835) |
|
|
Employees benefits expense |
11.299 |
15.423 |
18.441 |
|
|
Other expenses |
20.019 |
36.443 |
45.391 |
|
|
TOTAL |
136.163 |
342.299 |
313.372 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
17.823 |
25.577 |
33.576 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
10.848 |
10.536 |
17.043 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
6.975 |
15.041 |
16.533 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
2.606 |
3.229 |
4.130 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
4.369 |
11.812 |
12.403 |
|
|
|
|
|
|
|
Less |
TAX |
1.410 |
4.962 |
4.369 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
2.959 |
6.850 |
8.034 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
NA |
NA |
334.00 |
Expected Sales (2017-2018): INR 180.000 Million
The above information has been parted by Mr. Avinash Atre (DGM Finance)
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 |
4.844 |
|
|
|
|
|
|
Cash generated from operations |
NA |
NA |
23.508 |
|
|
|
|
|
|
Net Cash flows from operating activities |
NA |
NA |
16.684 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
308.01 |
270.17 |
266.16 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
1.19 |
1.35 |
1.37 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
455.80 |
303.53 |
286.41 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.09 |
0.16 |
0.27 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
1.26 |
1.55 |
1.64 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets) |
0.82 |
0.87 |
0.89 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
1.06 |
1.05 |
1.40 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
3.36 |
5.52 |
6.51 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.20 |
0.25 |
0.41 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
1.64 |
2.43 |
1.97 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin (PAT / Sales) * 100) |
% |
1.93 |
1.86 |
2.32 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
0.79 |
1.36 |
1.82 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
4.27 |
10.34 |
16.25 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.54 |
1.32 |
1.29 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current Liabilities) |
0.66 |
0.87 |
0.90 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.18 |
0.13 |
0.11 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
8.73 |
8.33 |
28.66 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.54 |
1.32 |
1.29 |
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 |
2.407 |
8.390 |
8.390 |
|
Reserves & Surplus |
47.022 |
57.888 |
60.847 |
|
Net worth |
49.429 |
66.278 |
69.237 |
|
|
|
|
|
|
Long-term borrowings |
68.973 |
69.867 |
73.252 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
68.973 |
69.867 |
73.252 |
|
Debt/Equity ratio |
1.395 |
1.054 |
1.058 |
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 |
345.717 |
367.745 |
153.605 |
|
|
|
6.372 |
(58.231) |
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 |
345.717 |
367.745 |
153.605 |
|
Profit/ (Loss) |
8.034 |
6.850 |
2.959 |
|
|
2.32% |
1.86% |
1.93% |
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) |
No |
|
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 |
No |
|
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 |
INDEX OF CAHREGS:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
C03639812 |
10424121 |
Canara Bank |
26/03/2013 |
25/04/2014 |
- |
90000000.0 |
Mid Corporate Branch, Renuka Complex, J.M. Road, Deccan Gymkhana, Pune-411004, Maharashtra, India |
|
2 |
C03642238 |
10456350 |
Canara Bank |
28/09/2013 |
- |
25/04/2014 |
8700000.0 |
1259, Jangli Maharaj Road, Renuka Complex, Deccan Gymkhana, Pune-411004, Maharashtra, India |
|
3 |
B62946835 |
90090277 |
STATE BANK OF INDIA |
15/03/1996 |
07/07/1999 |
26/11/2012 |
5600000.0 |
Deccan Gymkhana, Pune-411004, Maharashtra, India |
FIXED ASSETS
- Land and Building
- Plant and Machinery
- Motor Car
- Computer
- Furniture and Fixture
- Vehicle
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 64.99 |
|
|
1 |
INR 90.83 |
|
Euro |
1 |
INR 80.58 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
PSD |
|
|
|
|
Report Prepared
by : |
MTN |
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.