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|
MIRA INFORM REPORT
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Report No. : |
498347 |
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Report Date : |
21.03.2018 |
IDENTIFICATION DETAILS
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Name : |
EASTMAN INDUSTRIES LIMITED |
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Registered
Office : |
Flat No. 101, First Floor, 1 Community Centre, Naraina Industrial
Area, Phase-1, New Delhi - 110028 |
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Tel. No.: |
91-161-5280000, 2670935/36, 2671435 |
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Country : |
India |
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Financials (as
on) : |
31.03.2016 |
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Date of
Incorporation : |
25.08.1982 |
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Com. Reg. No.: |
55-014237 |
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Capital
Investment / Paid-up Capital : |
INR 19.426 Million |
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CIN No.: [Company Identification
No.] |
U74899DL1982PLC014237 |
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IEC No.: [Import-Export
Code No.] |
Not Divulged |
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GSTN : [Goods & Service Tax
Registration 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.] |
AAACE0633N |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
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No. of Employees
: |
Information denied 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 |
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Maximum Credit Limit : |
USD 1860000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company incorporated in the year 1982 and it is having good track records. The company trades in cycles and cycle parts, automobile and truck tyres, farm machinery parts, scaffoldings and batteries. Management of the company has not filed its financials of 2017 with government department. For the financial year 2016, the company has registered decrease in its revenue from operation as compared to previous year but maintained average profitability margin of 1.50%. Rating takes into consideration sound financial profile of the company marked by healthy networth base and low debt balance sheet. Further, rating also derives strength from its promoter’s extensive industry experience, diverse product portfolio and customer profile along with established track records of business operation and improvement in the profitability during the year. This strength is partially offset by working capital intensive nature of operations. Trade relations are reported as fair. Business is active. Payments terms are reported to be regular. In view of the 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 (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
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Rating |
Long term rating: BBB+ |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
01.02.2017 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating: A2 |
|
Rating Explanation |
Strong degree of safety and low credit risk.
|
|
Date |
01.02.2017 |
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
31-03-2016.
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 21.03.2018
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.
INFORMATION DENIED
Management Non-Cooperative (91-161-5280000)
LOCATIONS
|
Registered Office : |
Flat No. 101, First Floor, 1 Community Centre, Naraina
Industrial Area, Phase-1, New Delhi – 110028, India |
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Tel. No.: |
Not Available |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Head Office : |
C-87, Focal Point, Phase-5, Ludhiana, Punjab, India |
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Tel. No.: |
91-161-5280000/2670935/36/2671435 |
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Fax No.: |
91-161-2670934 |
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Branch Office: |
546-7, Phase V, Udyog Vihar, Sector 19, Gurugram-122022, Haryana, India |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Jagdish Rai Singal |
||||||||||||||||||||||||||||||||||||
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Designation : |
Managing Director |
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Address : |
610-611-B Aggar Nagar
Ludhiana- 141001, Punjab, India |
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Date of Birth/Age : |
30.01.1946 |
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Date of Appointment : |
06.06.1997 |
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PAN No.: |
ADVPS8359J |
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DIN No.: |
00699341 |
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Other Directorship:
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||||||||||||||||||||||||||||||||||||
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Name : |
Shekhar Singal |
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Designation : |
Managing Director |
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Address : |
1508-B, Beverly Park- II, Dlf
Phase- II, Gurugram- 122002, Haryana, India |
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Date of Birth/Age : |
23.12.1978 |
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Date of Appointment : |
01.01.2013 |
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PAN No.: |
ADVPS8313A |
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DIN No.: |
00564384 |
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Other Directorship:
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||||||||||||||||||||||||||||||||||||
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Name : |
Mr. Sushil Kumar Sachdeva |
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Designation : |
Whole Time Director |
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Address : |
House No.116, Rajori Garden Barewal
Road, Ludhiana-141012, Punjab, India |
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Date of Appointment : |
12.04.2016 |
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DIN No.: |
07489790 |
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Name : |
Mr. Kultar Singh |
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Designation : |
Whole time Director |
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Address : |
H. No. 629, Urban Estate, Phase
2, Dugri Road Ludhiana 141002 Punjab, India |
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Date of Appointment : |
25.11.2016 |
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DIN No.: |
07658001 |
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||||||||||||||||||||||||||||||||||||
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Name : |
Mr. Darshana Singal |
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Designation : |
Director |
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Address : |
610-611-B, Aggar Nagar,
Ludhiana -141001, Punjab, India |
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Date of Appointment : |
29.04.1996 |
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DIN No.: |
00698845 |
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Other Directorship:
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||||||||||||||||||||||||||||||||||||
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Name : |
Mr. Satish Kumar Vadhera |
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Designation : |
Director |
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Address : |
#132, Basant Vihar Jawaddi
Ludhiana- 141013, Punjab, India |
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Date of Appointment : |
30.09.2016 |
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DIN No.: |
00713141 |
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Other Directorship:
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|||||||||||||||||||||||||||||||||||||
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Name : |
Ranjodh Singh Ryait |
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Designation : |
Director |
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Address : |
H 209, Bhai Randhir Singh
Nagar, Ludhiana- 141001, Punjab, India |
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Date of Birth/Age : |
03.06.1965 |
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Date of Appointment : |
30.09.2015 |
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DIN No.: |
01412947 |
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Other Directorship:
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Name : |
Vandana Aggarwal |
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Designation : |
Director |
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Address : |
4/48 West Punjabi Bagh, New
Delhi -110026, India |
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Date of Appointment : |
05.09.1996 |
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DIN No.: |
01446498 |
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Other Directorship:
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Name : |
Mr. Vineet Jain |
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Designation : |
Director |
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Address : |
3194, Sector - D, Pocket – 3,
Vasant Kunj, New Delhi -110070, India |
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Date of Birth/Age : |
03.03.1967 |
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Date of Appointment : |
30.09.2010 |
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DIN No.: |
01823758 |
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Other Directorship:
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||||||||||||||||||||||||||||||||||||
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Name : |
Mr. Sushil Kumar Sachdeva |
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Designation : |
Additional Director |
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Address : |
House No.116, Rajori Garden
Barewal Road, Ludhiana- 141012, Punjab, India |
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|
Date of Appointment : |
12.04.2016 |
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DIN No.: |
07489790 |
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MAJOR SHAREHOLDERS
AS ON 31.03.2016
|
Names of Shareholders |
|
No. of Shares |
|
Jagdish Rai Singal |
|
1890000 |
|
Jyoti Jain |
|
3100 |
|
Reema Jain |
|
625 |
|
Meenakshi Jain |
|
3125 |
|
Monika Garg |
|
3125 |
|
Vandana Aggarwal |
|
23125 |
|
Shekhar Singal |
|
14900 |
|
Darshana Singal |
|
3125 |
|
Jagat Narian Tiwari |
|
100 |
|
R.C Tiwari |
|
100 |
|
Harshit Rai Singal |
|
100 |
|
Shreya Singal |
|
100 |
|
Vrinda Singal |
|
100 |
|
Abhishek Aggarwal |
|
100 |
|
Alok Aggarwal |
|
100 |
|
EshanI Jain U/G Ms. Meenakshi Jain |
|
100 |
|
Rishabh Jain |
|
100 |
|
Vineet Jain |
|
100 |
|
Shruti Garg |
|
100 |
|
Varun garg |
|
100 |
|
Rajesh Garg |
|
100 |
|
Rakesh Tandon |
|
25 |
|
Sudhir Gupta |
|
25 |
|
Munish Chopra |
|
25 |
|
Sandeep Madan |
|
25 |
|
Darshan Lal |
|
25 |
|
Ujagr Lal |
|
25 |
|
Ashwani Kumar Gupta |
|
25 |
|
Total |
|
1942600 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2016
|
Category |
Percentage |
|
Promoters (Individual/Hindu Undivided Family – Indian) |
97.29 |
|
Public/Other than promoters (Individual/Hindu Undivided Family – Indian) |
2.71 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
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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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||||||
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Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information denied by the management |
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Bankers : |
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Facilities : |
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Auditors : |
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|
Name : |
S.C. Vasudeva and Company Chartered Accountants |
|
Address : |
B-XIX-220, Rani Jhansi Road, Ghumar Mandi, Ludhiana-141001, Punjab, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AABFS5902N |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Enterprises which
are owned, or have
significant influence of or are partners with Key management personnel and
their relatives: |
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|
|
|
|
Enterprises over
which KMP is able to exercise control : |
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|
|
Enterprises over
which KMP and relatives
of such personnel is able to exercise significant influence: |
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|
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Subsidiaries: |
|
CAPITAL STRUCTURE
AS ON 30.09.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
INR 10/- each |
INR 30.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1942600 |
Equity Shares |
INR 10/- each |
INR 19.426 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET (STANDALONE)
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
19.426 |
19.426 |
19.426 |
|
(b) Reserves and Surplus |
633.280 |
606.524 |
581.870 |
|
(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) |
652.706 |
625.950 |
601.296 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
34.187 |
55.524 |
0.981 |
|
(b) Deferred tax liabilities (Net) |
8.445 |
9.756 |
8.767 |
|
(c) Other long-term
liabilities |
3.232 |
2.219 |
1.956 |
|
(d) long-term
provisions |
1.125 |
1.308 |
1.094 |
|
Total Non-current
Liabilities (3) |
46.989 |
68.807 |
12.798 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
130.978 |
194.426 |
125.199 |
|
(b) Trade
payables |
96.941 |
97.705 |
85.059 |
|
(c) Other current
liabilities |
97.779 |
71.697 |
98.936 |
|
(d) Short-term
provisions |
6.618 |
0.872 |
1.237 |
|
Total Current
Liabilities (4) |
332.316 |
364.700 |
310.431 |
|
|
|
|
|
|
TOTAL |
1032.011 |
1059.457 |
924.525 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
233.072 |
256.555 |
162.233 |
|
(ii)
Intangible Assets |
2.714 |
4.300 |
5.257 |
|
(iii) Tangible assets
capital work-in-progress |
8.197 |
5.662 |
19.134 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
266.143 |
266.143 |
266.143 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
35.932 |
37.862 |
66.716 |
|
(e) Other Non-current
assets |
0.143 |
0.294 |
0.259 |
|
Total Non-Current
Assets |
546.201 |
570.816 |
519.742 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
57.848 |
30.816 |
10.200 |
|
(b)
Inventories |
81.831 |
119.589 |
93.783 |
|
(c) Trade
receivables |
236.676 |
201.238 |
155.873 |
|
(d) Cash and
bank balances |
22.100 |
22.343 |
39.273 |
|
(e)
Short-term loans and advances |
22.043 |
48.440 |
36.876 |
|
(f) Other
current assets |
65.312 |
66.215 |
68.778 |
|
Total
Current Assets |
485.810 |
488.641 |
404.783 |
|
|
|
|
|
|
TOTAL |
1032.011 |
1059.457 |
924.525 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Revenue
from operations |
1783.291 |
2069.046 |
1797.741 |
|
|
Other Income |
22.916 |
27.892 |
11.387 |
|
|
TOTAL |
1806.207 |
2096.938 |
1809.128 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
124.524 |
89.727 |
115.935 |
|
|
Purchases of
Stock-in-Trade |
1287.041 |
1645.219 |
1341.185 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
29.838 |
(3.124) |
38.305 |
|
|
Employee benefit expense |
104.155 |
100.722 |
80.049 |
|
|
Other expenses |
164.689 |
175.255 |
154.362 |
|
|
TOTAL |
1710.247 |
2007.799 |
1729.836 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
95.960 |
89.139 |
79.292 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
21.612 |
17.174 |
16.246 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
74.348 |
71.965 |
63.046 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
34.767 |
31.962 |
24.263 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
39.581 |
40.003 |
38.783 |
|
|
|
|
|
|
|
Less |
TAX |
12.828 |
14.663 |
11.565 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
26.753 |
25.340 |
27.218 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
1513.622 |
1747.923 |
1430.064 |
|
|
TOTAL EARNINGS |
1513.622 |
1747.923 |
1430.064 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
13.77 |
13.04 |
14.01 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
15.506 |
4.291 |
3.527 |
|
Net cash flows from (used in) operations |
99.523 |
(48.871) |
113.804 |
|
Net cash flows from (used in) operating activities |
110.969 |
(44.215) |
113.278 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
48.44 |
35.50 |
31.65 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
7.53 |
10.28 |
11.53 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
25.07 |
20.56 |
21.31 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
1.17 |
0.75 |
0.85 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.39 |
0.33 |
0.42 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.37 |
0.40 |
0.34 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.28 |
0.41 |
0.22 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.51 |
0.58 |
0.52 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.37 |
0.43 |
0.31 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
4.44 |
5.19 |
4.88 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
1.50 |
1.22 |
1.51 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
2.59 |
2.39 |
2.94 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
4.10 |
4.05 |
4.53 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.46 |
1.34 |
1.30 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.22 |
1.01 |
1.00 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.63 |
0.59 |
0.65 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
9.30 |
13.09 |
6.68 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.46 |
1.34 |
1.30 |
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 |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
19.426 |
19.426 |
19.426 |
|
Reserves & Surplus |
581.870 |
606.524 |
633.280 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
601.296 |
625.950 |
652.706 |
|
|
|
|
|
|
Long-term borrowings |
0.981 |
55.524 |
34.187 |
|
Short term borrowings |
125.199 |
194.426 |
130.978 |
|
Current maturities of
long-term debts |
3.527 |
4.291 |
15.506 |
|
Total
borrowings |
129.707 |
254.241 |
180.671 |
|
Debt/Equity
ratio |
0.216 |
0.406 |
0.277 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
1797.741 |
2069.046 |
1783.291 |
|
|
|
15.091 |
(13.811) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
1797.741 |
2069.046 |
1783.291 |
|
Profit/ (Loss) |
27.218 |
25.340 |
26.753 |
|
|
1.51
% |
1.22
% |
1.50
% |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
|
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
19.426 |
19.426 |
|
(b) Reserves and Surplus |
|
1296.477 |
966.929 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
|
1315.903 |
986.355 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
120.068 |
158.195 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
|
3.232 |
2.219 |
|
(d) long-term
provisions |
|
8.035 |
5.403 |
|
Total Non-current
Liabilities (3) |
|
131.335 |
165.817 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
|
572.924 |
587.893 |
|
(b) Trade
payables |
|
748.292 |
614.134 |
|
(c) Other
current liabilities |
|
399.440 |
347.776 |
|
(d) Short-term
provisions |
|
181.753 |
36.256 |
|
Total Current
Liabilities (4) |
|
1902.409 |
1586.059 |
|
|
|
|
|
|
TOTAL |
|
3410.791 |
2778.545 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
600.601 |
581.099 |
|
(ii)
Intangible Assets |
|
41.964 |
36.278 |
|
(iii) Tangible assets
capital work-in-progress |
|
11.938 |
13.170 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.244 |
0.244 |
|
(c) Deferred tax assets (net) |
|
5.784 |
7.038 |
|
(d)
Long-term loans and advances |
|
51.837 |
58.210 |
|
(e) Other
Non-current assets |
|
0.143 |
0.294 |
|
Total Non-Current
Assets |
|
712.511 |
696.333 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
61.218 |
30.816 |
|
(b)
Inventories |
|
587.926 |
586.926 |
|
(c) Trade
receivables |
|
1526.275 |
1121.741 |
|
(d) Cash and
bank balances |
|
144.019 |
98.260 |
|
(e)
Short-term loans and advances |
|
55.497 |
86.389 |
|
(f) Other
current assets |
|
323.345 |
158.080 |
|
Total
Current Assets |
|
2698.280 |
2082.212 |
|
|
|
|
|
|
TOTAL |
|
3410.791 |
2778.545 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Revenue
from operations |
|
8007.646 |
8198.970 |
|
|
Other Income |
|
58.876 |
52.301 |
|
|
TOTAL |
|
8066.522 |
8251.271 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
3288.300 |
3809.351 |
|
|
Purchases of
Stock-in-Trade |
|
2738.292 |
2798.610 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
(20.505) |
35.088 |
|
|
Employee benefit expense |
|
422.951 |
311.872 |
|
|
Other expenses |
|
967.774 |
837.776 |
|
|
TOTAL |
|
7396.812 |
7792.697 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
669.710 |
458.574 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
92.915 |
95.887 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
576.795 |
362.687 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
110.486 |
88.268 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
466.309 |
274.419 |
|
|
|
|
|
|
|
Less |
TAX |
|
118.828 |
69.304 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
347.481 |
205.115 |
|
|
|
|
|
|
|
|
PROFIT (LOSS) OF
MINORITY INTEREST |
|
20.830 |
11.208 |
|
|
|
|
|
|
|
|
TOTAL PROFIT (LOSS)
FOR PERIOD |
|
326.651 |
193.907 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
168.15 |
99.82 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
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 |
Yes |
|
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 |
No |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOANS:
|
PARTICULAR |
31.03.2016 (INR
in Million) |
31.03.2015 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Deposits from directors |
0.208 |
9.885 |
|
|
|
|
|
Total |
0.208 |
9.885 |
INDEX OF CHARGE:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of
Modification |
Date of
Satisfaction |
Amount |
Address |
|
1 |
C78510146 |
10619108 |
ICICI BANK LIMITED |
03/02/2016 |
- |
- |
54600000.0 |
LANDMARKRACE COURCE CIRCLE ALKAPURI VADODARA 390015 GUJARAT INDIA |
|
2 |
C78527546 |
10619154 |
ICICI BANK LIMITED |
03/02/2016 |
- |
- |
10000000.0 |
LANDMARKRACE COURCE CIRCLE ALKAPURI VADODARA 390015 GUJARAT INDIA |
|
3 |
C75142125 |
10306655 |
State Bank of India |
29/07/2011 |
10/11/2015 |
- |
838400000.0 |
INDUSTRIAL FINANCE BRANCHGOLDEN TOWER, NEAR DHOLEWAL CHOWK LUDHIANA-141003 PUNJAB INDIA |
|
4 |
G02885408 |
90058739 |
State Bank of India |
08/11/2004 |
08/04/2016 |
- |
395800000.0 |
INDUSTRIAL FINANCE BRANCHGOLDEN TOWER, NEAR DHOLEWAL CHOWK LUDHIANA 141003 PUNJAB INDIA |
|
5 |
G05714688 |
10487139 |
SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA |
24/03/2014 |
02/03/2015 |
23/05/2016 |
25500000.0 |
SCO - 16 & 17, FIRST FLOOR,FEROZ GANDHI MARKET, OPP. LUDHIANA STOCK EXCHANGE LUDHIANA-141001 PUNJAB INDIA |
|
6 |
G05714357 |
10513755 |
SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA |
11/08/2014 |
02/12/2015 |
23/05/2016 |
35000000.0 |
16& 17 FIRST FLOORFEROZE GANDHI MARKET OPP.LSE LUDHIANA-141001 PUNJAB INDIA |
|
7 |
B93535698 |
10135102 |
Small Industries Development Bank of India |
25/11/2008 |
- |
06/01/2014 |
20000000.0 |
SCO 16-17, IST FLOOR, OPPOSITE LUDHIANA STOCKEXCHANGE, FEROZE GANDHI MARKET,LUDHIANA-141001 PUNJAB INDIA |
|
8 |
B77907343 |
10279195 |
STATE BANK OF INDIA |
19/02/2011 |
- |
30/05/2013 |
199400000.0 |
SPECIALISED COMMERCIAL BRANCHMILLER GANJ LUDHIANA-141003 PUNJAB INDIA |
|
9 |
B18159509 |
90063847 |
STATE BANK OF INDIA |
07/03/1995 |
- |
01/08/2011 |
17000000.0 |
OVERSEAS BRANCHSAVITRI COMPLEX; G. T. ROAD LUDHIANA PUNJAB INDIA |
FIXED ASSETS:
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
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 64.87 |
|
|
1 |
INR 90.48 |
|
Euro |
1 |
INR 79.91 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
PSD |
|
|
|
|
Report Prepared
by : |
RKI |
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 |
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.