MIRA INFORM REPORT

 

 

 

Report No. :

511070

Report Date :

28.05.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

NSL TEXTILES LIMITED [w.e.f.24.09.2008]

 

 

Formerly Known As :

JAYAVENKATRAMA INDUSTRIES LIMITED [w.e.f.14.08.2002]

 

JAYAVENKATRAMA SUGAR AND POWER LIMITED

 

 

Registered Office :

3rd Floor, 'EMGEE House', 4th Lane, Chandramouli Nagar, Ring Road, Guntur - 522007,  Andhra Pradesh

Mob. No.:

91-40-30514444

 

 

Country :

India

 

 

Financials (as on) :

31.03.2017

 

 

Date of Incorporation :

12.02.2002

 

 

Com. Reg. No.:

01-038489

 

 

Capital Investment / Paid-up Capital :

INR 1031.064 Million

 

 

CIN No.:

[Company Identification No.]

U15429AP2002PLC038489

 

 

IEC No.:

[Import-Export Code No.]

0902007025

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

HYDJ00614F

 

 

GSTN :

[Goods & Service Tax Registration No.]

Not Divulged

 

 

TIN No.:

28220170325

 

 

PAN No.:

[Permanent Account No.]

AABCJ1299A

 

 

Legal Form :

A Closely Held Public Limited Liability Company.

 

 

Line of Business :

Subject is engaged in textile manufacturing with capacities spread over seven locations encompassing ginning, spinning, weaving, processing and garmenting operations. [Registered Activity]

 

 

No. of Employees :

Information declined by the management 

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

C

 

Credit Rating

Explanation

Rating Comments

C

Medium High Risk

Business dealings permissible preferably on secured basis

 

Status :

Poor  

 

 

Payment Behaviour :

Slow and delayed

 

 

Litigation :

Clear

 

 

Comments :

Subject was incorporated in the year 2002. It is a subsidiary of Mandava Holdings Private Limited.


The company is a manufacturer and exporter of textile.


As per the financial records of 2017, the company has reported a decline in its revenue as compared to the previous year and has incurred operational losses.


The rating is further constrained on account of low reserve base, high debt balance sheet profile and delays in debt servicing.


Company's proposal to restructure its debt obligations under the Scheme for Sustainable Structuring of Assets (S4A) was implemented on May 22, 2017 with a reference date of November 25, 2016. Under the scheme, 46.65% of the debt (INR 4636.4 million) was classified as unsustainable debt. Of the same, INR 1247.7 million was converted into equity shares at book value of INR 13.84 per share. Further, INR 3388.7 million was converted into Optionally Convertible Debentures (OCD). To service the interest payment from November 26, 2016 to May 23, 2017, NSLTL issues OCDs worth INR 322.8 million. The OCDs have a repayment period of 10 years with a coupon rate of 0.01% per annum and yield to maturity of 9.00% per annum. The balance 53.35% (INR 5302.7 million) was classified as sustainable debt and the repayment terms for the same was unchanged.

The S4A scheme has reduced NSLTL's existing repayment obligations. However, liquidity of the company remained under pressure on account of subdued market conditions, volatile raw material prices impacting realizations & profitability and delays in receiving power incentives from state government and Interest Subsidy under TUFS from Central Government, leading to irregularity in servicing the term loan accounts. With the improvement in market conditions, stabilisation of cotton prices since October 2017, the start of the new cotton season, and the receipt of power incentive from the state government expected to come in by the end of February 2018, liquidity profile is likely to improve over the medium term.


Business is active. Payment seems to be slow and delayed.


In view of aforesaid, the company can be considered for business dealings on fully safe and secured 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.

 

 

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

Rating

Long Term Loans = D

Rating Explanation

Lowest credit quality and very low prospects of recovery

Date

21.02.2018

 

Rating Agency Name

CRISIL RATING

Rating

Short Term Loans = D

Rating Explanation

Lowest credit quality and very low prospects of recovery

Date

21.02.2018

 

 

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 31-03-2018.

 

 

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 28.05.2018.

 

 

IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS

 

Subject’s name is not listed in the publicly available IBBI (Insolvency and Bankruptcy Board of India) list as of report date.

 

 

INFORMATION DENIED BY

 

Name :

Mr. Sairam

Designation :

Finance Manager

Contact No.:

91-40-30514444

Date :

24.05.2018

 

 

LOCATIONS

 

Registered Office :

3rd Floor, 'EMGEE House', 4th Lane, Chandramouli Nagar, Ring Road, Guntur - 522007,  Andhra Pradesh, India

Tel. No.:

91-40-30514444

Fax No.:

91-40-30514350

E-Mail :

nsltextileshyd@gmail.com

karuturi.sairam@nsltextiles.com

Website :

http://www.nsltextiles.com

http://www.nslgroup.co.in

 

 

Corporate Office :

NSL Icon,  4th Floor,  8-2-684/2/A, Road No 12, Banjara Hills, Hyderabad-500034, Telangana,  India

 

 

Factory 1 :

Edlapadu Mandal and Post, Edlapadu, Near Chilakaluripet, Guntur – 522233, Andhra Pradesh, India

 

 

Factory 2 :

Inkollu Village and Mandal, District Prakasam – 523167, Andhra Pradesh, India

 

 

Factory 3 :

Survey No. 237, Kommunu Road, Rangannagudam Post, Hanuman Junction, District Krishna, Andhra Pradesh, India

 

 

Factory 4 :

Survey Nos. 371-379, Kunchalavaripalem Village, Cherukupali Mandal, District Guntur, Andhra Pradesh, India

 

 

Factory 5 :

Opposite Indira Gandhi Live Stock Research Centre, Thondur Mandal, Pulivendula, Cuddapah Post, Andhra Pradesh, India  

 

 

Factory 6 :

Survey No. 253, Budampadu Village, Guntur Rural Mandal, District Guntur – 522017, Andhra Pradesh, India

 

 

Factory 7 :

Textile Park, Phase 3, IDA, Pashamylam, Patancheru, District Medak – 502307, Andhra Pradesh, India

 

 

DIRECTORS

 

As on 31.03.2018

 

Name :

Mr. Mandava Rao Prabhakara

Designation :

Director

Address :

Plot No. 543, House No. 8-2-293/82/A543 Road No. 26, Jubilee Hills, Hyderabad-500033, Telangana, India

Date of Birth/Age :

19.01.1959

Qualification :

M. Sc (Agricultural)

Date of Appointment :

12.02.2002

PAN No.:

ACVPM9483A

DIN No.:

00009650

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U01119TG2008PTC061514

PRAVARDHAN SEEDS PRIVATE LIMITED

30/09/2010

-

U14200DL2009PTC196457

CERES MINING PRIVATE LIMITED

02/10/2010

-

U40300TG2013PTC089109

MKP POWER PRIVATE LIMITED

23/07/2013

-

U67190TG2014PTC092806

MANDAVA INVESTMENTS PRIVATE LIMITED

07/02/2014

-

U74120TG2008PTC086206

NSL PROPERTIES PRIVATE LIMITED

12/03/2008

-

U74120TG2008PLC074583

NUZIVEEDU SEEDS LIMITED

01/07/2015

-

U74120TG2008PTC074522

MANDAVA HOLDINGS PRIVATE LIMITED

12/03/2008

-

U40101TG2008PTC057010

NSL ENERGY VENTURES PRIVATE LIMITED

30/09/2011

-

U51909TN2007PTC064763

NSL POWER EQUIPMENT TRADING PRIVATE LIMITED

18/10/2007

-

U17121TG2007PTC054034

NSL COTTON CORPORATION PRIVATE LIMITED

17/05/2007

-

U17124TG2007PTC079001

MAS FABRIC PARK (INDIA) PRIVATE LIMITED

31/03/2011

-

U40102TN2006PLC058922

MAHANADHI ABAN POWER COMPANY LIMITED

15/02/2012

-

U15429KA1999PLC026121

NSL SUGARS LIMITED

01/04/2010

-

U74999AP1999PTC032118

MANDAVA COLD STORAGE PRIVATE LIMITED

01/11/2000

-

U40109TG1985PTC114078

NSL RENEWABLE POWER PRIVATE LIMITED

01/07/2010

-

U51225KA2005PTC036073

MADDURAMMA TRADERS PRIVATE LIMITED

15/04/2005

-

U45200TG2005PLC045511

NSL NAGAPATNAM POWER AND INFRATECH LIMITED

02/03/2005

-

U70102TG2004PTC044588

DIVYASREE NSL INFRASTRUCTURE PRIVATE LIMITED

09/10/2008

-

U18101TG2004PLC044154

NSL TEXTILES (EDLAPADU) LIMITED

14/09/2004

-

U40109TG2001PTC037830

INDUR GREEN POWER PRIVATE LIMITED

21/09/2001

-

 

 

Name :

Mr. Laxminiwas Sharma

Designation :

Director

Address :

15/16,Panchavaticolony, Brij Syed Road, Bowenpally, Secunderabad-500009, Telangana, India

Date of Appointment :

30.09.2015

DIN No.:

00010899

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

L65993TG1985PLC005838

B.N. RATHI SECURITIES LIMITED

29/01/1990

-

U45200TG1986PTC007016

BABUJI ESTATES PVT LTD.,

29/09/2001

-

 

 

Name :

Mr. Apparao Chigurupati

Designation :

Whole-time director

Address :

Flat No. A-704, Vertex Sadguru Krupa, Nizampet Road, Kukapally, Hyderabad-500085, Telangana, India

Date of Birth/Age :

01.07.1948

Qualification :

B.Com, Fellow Member of Institute of Insurance

Date of Appointment :

01.07.2010

PAN No.:

AAJPC8469Q

DIN No.:

00011095

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U18100AP1982PTC003448

SREE ANANTHA LAKSHMI TEXTILES PRIVATE LIMITED

29/09/2012

-

U17110AP1995PTC021407

SREE VENKATARAYA COTTON MILLS PRIVATE LIMITED

29/09/2012

-

U17100AP1998PTC029417

EXCEL COTTON COMPANY PRIVATE LIMITED

30/09/2011

-

U74120TG2008PTC086206

NSL PROPERTIES PRIVATE LIMITED

29/09/2015

-

U45209TG2007PTC056015

EXCELSIOR PROJECTS PRIVATE LIMITED

19/10/2007

-

U70102TG2007PTC054777

NSL ESTATES PRIVATE LIMITED

14/09/2017

-

U17124TG2007PTC079001

MAS FABRIC PARK (INDIA) PRIVATE LIMITED

31/03/2011

-

U70102TG2005PTC048141

COZY PROPERTIES PRIVATE LIMITED

23/11/2005

-

U10300TG2005PLC048140

NSL POWER & INFRATECH LIMITED

23/11/2005

-

U24233TG2005PTC047540

PRESTIGE AGRI INPUTS PRIVATE LIMITED

21/09/2005

-

U18101TG2004PLC044154

NSL TEXTILES (EDLAPADU) LIMITED

24/12/2004

-

 

 

Name :

Mr. Prem Sardarilal Malik

Designation :

Director

Address :

Akhand Aabhar Apartments. 501, 21st Road, Near Khar Gymkhana, Bandra (West), Mumbai-400050, Maharashtra, India

Date of Appointment :

30.09.2015

DIN No.:

00023051

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

L72200PN1988PLC068972

INDO COUNT INDUSTRIES LIMITED

31/07/2010

-

U70101RJ1984PLC011217

GINNI INTERNATIONAL LTD. (TRANSFER FROM DELHI TO RAJ.)

31/07/2014

-

U51909MH1995PTC089716

ALDER TRADING COMPANY PRIVATE LIMITED

25/11/1995

-

L74999MH1995PLC087643

LAHOTI OVERSEAS LIMITED

28/09/2012

-

L17121MH1904PLC000195

HINDOOSTAN MILLS LIMITED

11/12/2017

-

U74140DL2014NPL270744

TEXTILE SECTOR SKILL COUNCIL

23/09/2017

-

U74210MH2003PTC141755

SMILESVILLE CARE PRIVATE LIMITED

14/08/2003

-

U13209MH2003PTC143345

M & M MINING PRIVATE LIMITED

26/09/2013

-

L18101KL2005PLC018062

GTN TEXTILES LIMITED

28/10/2006

-

U72200MH2004PTC144224

TECHWARE CONSULTANTS PRIVATE LIMITED

26/09/2013

-

L18101KL1991PLC006194

PATSPIN INDIA LTD

13/08/2012

-

 

 

Name :

Mr. Anand Ramanna

Designation :

Director

Address :

Flat No.0-1,15th Floor, Cuffe Castle, Cuff Parade, Colaba, Mumbai-400005, Maharashtra, India

Date of Birth/Age :

05.11.1933

Qualification :

Textile Technology Graduate

Date of Appointment :

17.0602014

DIN No.:

00040325

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

L33130TG1979PLC002521

NCL INDUSTRIES LTD

04/06/1982

-

U28920MH1982PTC027261

EASTERN ENGINEERING CO (BOMBAY) PVT LTD

01/06/2006

-

U17110MH1982PTC027087

NOVA SILK PRIVATE LTD

06/05/1982

-

L17119PN1990PLC058139

PRANAVADITYA SPINNING MILLS LIMITED

23/08/2014

-

U74999MH1992GAP066130

THE COUNCIL OF EU CHAMBERS OF COMMERCE IN INDIA

28/09/2016

-

U74999MH1966NPL013602

THE INDO-ITALIAN CHAMBER OF COMMERCE AND INDUSTRY

30/09/2002

-

L72200PN1988PLC068972

INDO COUNT INDUSTRIES LIMITED

27/11/1995

-

U93000MH2010PTC199719

ETS EASTERN SERVICES PRIVATE LIMITED

04/02/2010

-

U29253KA2011PTC058597

MARZOLI TEXTILE MACHINERY MANUFACTURERS PRIVATE LIMITED

11/05/2011

-

U31400MH2012PTC225956

FERRARI EASTERN FANS INDIA PRIVATE LIMITED

12/01/2012

-

U29253MH2012PTC227674

SMIT TEXTILE MACHINERY MANUFACTURERS PRIVATE LIMITED

05/03/2012

-

 

 

Name :

Mr. Gopalakrishna Muddusetty

Designation :

Director

Address :

Bhramara, 12-2-823A/23, Santoshnagar, Mehdipathnam, Hyderabad – 500028, Telangana, India

Date of Birth/Age :

12.01.1939

Qualification :

IAS Officer (Retd)

Date of Appointment :

17.06.2014

DIN No.:

00088454

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U01112TG1992PLC014346

PRABHAT AGRI BIOTECH LIMITED

24/09/2015

-

L24110TG1989PLC009713

SUVEN LIFE SCIENCES LIMITED

13/08/2013

-

L40106AP1985PLC005318

BGR ENERGY SYSTEMS LIMITED

19/09/2008

-

U24230TG1995PTC021115

AVRA LABORATORIES PRIVATE LIMITED

29/03/2018

-

L29253TG1983PLC004141

PITTI ENGINEERING LIMITED

22/09/2014

-

L64203TG2000PLC035451

GOLDSTONE INFRATECH LIMITED

30/09/2008

-

L28990AP1978PLC002260

JOCIL LIMITED

22/01/2005

-

U40109TG1985PTC114078

NSL RENEWABLE POWER PRIVATE LIMITED

29/09/2010

-

U74120TG2008PLC074583

NUZIVEEDU SEEDS LIMITED

28/09/2011

-

 

 

Name :

Mr. Prabal Ranjan Roy

Designation :

Director

Address :

36, Amaltas Bungalow, Bodakdev, Ahmedabad-380054, Gujarat, India

Date of Birth/Age :

11.07.1941

Qualification :

PhD in Textile

Date of Appointment :

17.06.2014

DIN No.:

00514330

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U17110MH1986PLC039177

PEE VEE TEXTILES LIMITED

31/08/2015

-

 

 

Name :

Mr. Mandava Venkatram Chowdary

Designation :

Whole-time director

Address :

H. No.8-2-293/82/A, Plot No.543, Road No.26, Jubilee Hills, Hyderabad – 500033, Telangana, India

Date of Birth/Age :

30.11.1987

Qualification :

Bachelor of Business Administration

Date of Appointment :

05.09.2011

PAN No.:

AJZPC5236E

DIN No.:

03567730

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U51225KA2005PTC036073

MADDURAMMA TRADERS PRIVATE LIMITED

15/04/2005

-

U99999TG1995PLC020845

PERPETUAL ENERGY SYSTEMS LIMITED

31/07/2006

-

U40109TG1985PTC114078

NSL RENEWABLE POWER PRIVATE LIMITED

18/10/1997

-

U18100TG1995PLC022418

PRABHAT INDUSTRIAL CORPORATION LIMITED

28/11/1995

-

U15421MH2000PLC130397

JAY MAHESH SUGAR INDUSTRIES LIMITED

30/09/2011

-

U18101TG2004PLC044154

NSL TEXTILES (EDLAPADU) LIMITED

05/07/2010

-

U67190TG2014PTC092806

MANDAVA INVESTMENTS PRIVATE LIMITED

07/02/2014

-

U74999AP1999PTC032118

MANDAVA COLD STORAGE PRIVATE LIMITED

01/09/2010

-

U15429KA1999PLC026121

NSL SUGARS LIMITED

26/07/2001

-

U17121TG2007PTC054034

NSL COTTON CORPORATION PRIVATE LIMITED

17/05/2007

-

U70101TG2007PTC053994

TOPNOTCH PROJECTS PRIVATE LIMITED

14/05/2007

-

U45400TG2007PTC054029

NSL CONVENTIONAL POWER PRIVATE LIMITED

27/09/2012

-

U51909TN2007PTC064763

NSL POWER EQUIPMENT TRADING PRIVATE LIMITED

14/09/2007

-

U40101TG2008PTC057010

NSL ENERGY VENTURES PRIVATE LIMITED

30/09/2011

-

U74120TG2008PTC074522

MANDAVA HOLDINGS PRIVATE LIMITED

24/09/2012

-

U40300TG2013PTC089109

MKP POWER PRIVATE LIMITED

23/07/2013

-

U74120TG2008PLC074583

NUZIVEEDU SEEDS LIMITED

19/03/2008

-

U74120TG2008PTC086206

NSL PROPERTIES PRIVATE LIMITED

12/03/2008

-

U40104TN2011PTC080225

ORBIT WIND ENERGY PRIVATE LIMITED

27/09/2012

-

U05005TG2001PTC037782

SREE KAMADHENU AQUATECH PRIVATE LIMITED

11/09/2001

-

 

 

Name :

Mandava Ashapriya

Designation :

Director

Address :

H. No.8-2-293/82/A, Plot No.543, Road No.26, Jubilee Hills, Hyderabad - 500033, Telangana, India

Date of Birth/Age :

19.09.1962

Qualification :

Post-Graduation in Home Science

Date of Appointment :

12.02.2002

PAN No.:

AFWPM9031Q

DIN No.:

01199936

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U10102TG2006PTC050899

SPLENDID MINERALS PRIVATE LIMITED

29/09/2017

-

U15421MH2000PLC130397

JAY MAHESH SUGAR INDUSTRIES LIMITED

30/09/2011

-

U70102TG2007PTC054777

NSL ESTATES PRIVATE LIMITED

30/09/2014

-

U45203TG2007PTC054784

NSL INFRATECH PRIVATE LIMITED

29/09/2014

-

U15429KA1999PLC026121

NSL SUGARS LIMITED

29/09/2012

-

U45200TG2005PTC048066

NSL SEZ (HYDERABAD) PRIVATE LIMITED

27/09/2014

-

U70102TG2004PTC044588

DIVYASREE NSL INFRASTRUCTURE PRIVATE LIMITED

30/09/2015

-

U70102TG2004PTC043959

CENTURY AVENUES PRIVATE LIMITED

29/09/2015

-

U91990AP2002NPL097858

ANDHRA PRADESH SPINNING MILLS ASSOCIATION

30/08/2014

-

U70101TG2001PTC038151

NSL SEZ (CHENNAI) PRIVATE LIMITED

04/12/2013

-

 

 

KEY EXECUTIVES

 

Name :

Mr. Satish Kumar Samineni

Designation :

Chief Financial Officer

Address :

Flat No.407, Sindhu Blossoms, Shilpa Park,, Maharishi Vidya Mandir, Kondapur, Kothaguda,, Hyderabad-500034, Telangana, India

Date of Appointment :

17.06.2014

PAN No.:

AGLPS2790N

 

 

Name :

Pooja Rajeshbhai Trivedi

Designation :

Company Secretary

Address :

87 Anant Nagar, Adarsh Grah Nirman Society, Nagpur – 440013, Maharashtra, India

Qualification :

18.05.2017

PAN No.:

AORPT2638G

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 31.03.2017

 

Names of Shareholders

 

No. of Shares

M. Prabhakar Rao

 

11663512

M. Asha Priya

 

2947515

M. Venkatram Choudary

 

12473

Mandava Holdings Private Limited

 

68368394

Mandava Cold Storage Private Limited

 

2500000

Krishna Prasad

 

4194444

Dover Finance Limited

 

3420000

APMS Investment Fund Limited

 

10000000

 

 

 

Total

 

103106338

 

 

Equity Share Break up (Percentage of Total Equity)

 

As on 29.09.2017

 

Category

Percentage

Promoter – (Individual/ Hindu Undivided Family – Indian)

14.118

Promoter - Bodies corporate

68.73

Public/Other than promoters – (Non-Resident Indian)

4.07

Public/Other than promoters – (Foreign National Indian)

13.02

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Subject is engaged in textile manufacturing with capacities spread over seven locations encompassing ginning, spinning, weaving, processing and garmenting operations. [Registered Activity]

 

 

Products :

Item Code No.

Product Description

52051410

Cotton Yarn

52082190

Grey Fabric

52083190

Finished Fabric

62059090

Garments

12072100

Cotton Seed

52021000

Cotton/Yarn Waste

52010015

Cotton Lint

 

 

Brand Names :

Not Divulged

 

 

Agencies Held :

Not Divulged

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

Not Divulged

 

PRODUCTION STATUS NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

Customers :

 

Reference :

Not Divulged

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

No. of Employees :

Information declined by the management

 

 

Bankers :

Bank Name

Canara Bank

Branch

Prime Corporate Branch, Shankarnarayana Builidng No.25, M G Road, Bangalore – 560001, Karnataka, India

Person Name (With Designation)

--

Contact Number

--

Name of Account Holder

--

Account Number

--

Account Since (Date/Year of Account Opening)

--

Average Balance Maintained (If Possible)

--

Credit Facilities Enjoyed (If any)

--

Account Operation

--

Remarks (If any)

--

 

  • State Bank of India, Specialised Commercial Branch, Kannavarithota, Guntur – 522004, Andhra Pradesh, India

 

 

Facilities :

Secured Loan

31.03.2017

(INR in Million)

31.03.2016

(INR in Million)

Long-term Borrowings

 

 

Rupee term loans from banks

4723.113

5701.474

 

 

 

Short-term borrowings

 

 

Term loans from banks

3143.665

3568.393

 

 

 

Total

7866.778

9269.867

 

Auditors :

 

Name :

Mastanaiah and Company

Chartered Accountants

Address :

11/1, Arundlpet, Guntur-522002, Andhra Pradesh, India

Income-tax PAN of auditor or auditor's firm :

AADFM5561H

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Holding Company :

Mandava Holdings Private Limited

U74120AP2008PTC074522

 

 

Subsidiary Company :

Sree Anantha Lakshmi Textiles Private Limited

U18100AP1982PTC003448

 

 

Fellow Subsidiary :
  • Nuziveedu Seeds Limited

U74120TG2008PLC074583

  • NSL Cotton Corporation Private Limited

U17121TG2007PTC054034

  • NSL Sugars Limited

U15429KA1999PLC026121

  • Prabhat Agri Biotech Limited

U01112TG1992PLC014346

  • Pravardhan Seeds Private Limited

U01119TG2008PTC061514

  • Asian Agri Genetics Limited

U73200TG2004PLC042560

  • Fortune Hybrid Seeds Limited

U01119TG2004PLC042741

  • Yaaganti Seeds Private Limited

U01112TG1996PTC025622

  • NSL Sugars (Tungabhadra) Limited

U40102KA1983PLC058128

  • NCC Radhakrishna Cotton Private Limited

U17121MH2007PTC172490

  • NCC Usha Ginning Mills Private Limited

U17121TG2007PTC054726

  • NSL Renewable Power Private Limited

U40109TG1985PTC114078

 

 

CAPITAL STRUCTURE

 

AFTER 31.03.2017

 

Authorised Capital : INR 2410.000 Million

 

Issued, Subscribed & Paid-up Capital : INR 1932.566 Million

 

 

As on 31.03.2017

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

173000000

Equity Shares

INR 10/- each

INR 1730.000 Million

400000

Preference Shares

INR 100/- each

INR 40.000 Million

 

Total

 

INR 1770.000 Million

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

103106338

Equity Shares

INR 10/- each

INR 1031.064 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

1031.063

1031.063

1031.063

(b) Reserves and Surplus

806.813

1580.663

1722.927

(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

0.000

Total Shareholders’ Funds (1) + (2)

1837.876

2611.726

2753.990

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

7136.833

8115.194

9096.852

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long-term liabilities

293.284

309.303

302.454

(d) long-term provisions

58.710

53.507

39.906

Total Non-current Liabilities (3)

7488.827

8478.004

9439.212

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short-term borrowings

3143.665

3568.393

3055.545

(b) Trade payables

1522.343

1251.242

812.998

(c) Other current liabilities

2093.909

1462.247

1262.585

(d) Short-term provisions

2.803

1.178

0.943

Total Current Liabilities (4)

6762.720

6283.060

5132.071

 

 

 

 

TOTAL

16089.423

17372.790

17325.273

 

 

 

 

II.    ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

10161.427

10566.428

11058.245

(ii) Intangible Assets

7.123

7.372

11.292

(iii) Tangible assets capital work-in-progress

21.568

45.627

12.785

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

85.929

85.930

84.594

(c) Deferred tax assets (net)

607.394

288.159

190.322

(d) Long-term loans and advances

545.168

529.719

462.746

(e) Other Non-current assets

31.706

56.567

82.107

Total Non-Current Assets

11460.315

11579.802

11902.091

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

1459.987

2081.713

2069.529

(c) Trade receivables

787.223

1062.099

1369.358

(d) Cash and bank balances

35.779

97.080

85.110

(e) Short-term loans and advances

2235.833

2407.683

1854.284

(f) Other current assets

110.286

144.413

44.901

Total Current Assets

4629.108

5792.988

5423.182

 

 

 

 

TOTAL

16089.423

17372.790

17325.273

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

 

SALES

 

 

 

 

Total Revenue from operations

11156.121

11679.096

10847.088

 

Other Income

72.835

79.383

279.344

 

TOTAL

11228.956

11758.479

11126.432

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

6125.724

5773.366

5810.043

 

Purchases of Stock-in-Trade

283.119

848.813

266.994

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

144.314

212.766

(41.322)

 

Employee benefit expense

950.496

918.213

832.519

 

Other expenses

2830.730

2460.754

2196.972

 

TOTAL

10334.383

10213.912

9065.206

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

894.573

1544.567

2061.226

 

 

 

 

 

Less

FINANCIAL EXPENSES

1387.531

1264.252

1246.418

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

(492.958)

280.315

814.808

 

 

 

 

 

Less

DEPRECIATION/ AMORTISATION

592.119

594.109

561.996

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

(1085.077)

(313.794)

252.812

 

 

 

 

 

Less

TAX

(319.234)

(89.458)

78.247

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX

(765.843)

(224.336)

174.565

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

F.O.B. Value of Exports

NA

NA

2211.796

 

Other Earning

NA

NA

0.000

 

TOTAL EARNINGS

NA

NA

2211.796

 

 

 

 

 

 

IMPORTS

 

 

 

 

Raw Materials

NA

NA

237.461

 

Components and spare parts

NA

NA

96.883

 

Capital Goods

NA

NA

138.163

 

TOTAL IMPORTS

NA

NA

472.507

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

(7.43)

(2.18)

--

 

 

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

1078.328

Net cash flows from (used in) operations

2196.996

1648.011

2311.553

Net cash flows from (used in) operating activities

2231.625

1645.780

2304.558

 

 

KEY RATIOS

 

EFFICIENCY RATIOS

 

PARTICULARS

 

 

31.03.2017

31.03.2016

31.03.2015

Average Collection Days

[Sundry Debtors / Income * 365]

 

25.76

33.19

46.08

 

 

 

 

 

Account Receivables Turnover

[Income / Sunday Debtors]

 

14.17

11.00

7.92

 

 

 

 

 

Average Payment Days [Sundry Creditors / Purchases * 365]

 

86.70

68.97

48.83

 

 

 

 

 

Inventory Turnover [Operating Income / Inventories]

 

0.61

0.74

1.00

 

 

 

 

 

Asset Turnover [Operating Income / Net Fixed Assets]

 

0.09

0.15

0.19

 

 

LEVERAGE RATIOS

 

PARTICULARS

 

 

31.03.2017

31.03.2016

31.03.2015

Debt Ratio [(Borrowing + Current Liabilities) / Total Assets]

 

0.86

0.83

0.88

 

 

 

 

 

Debt Equity Ratio (Borrowings / NetWorth)

 

5.59

4.47

4.80

 

 

 

 

 

Current Liabilities to Networth (Current Liabilities / NetWorth)

 

3.68

2.41

1.86

 

 

 

 

 

Fixed Assets to NetWorth (Net Fixed Assets / NetWorth)

 

5.54

4.07

4.02

 

 

 

 

 

Interest Coverage Ratio [PBIT / Financial Charges]

 

0.64

1.22

1.65

 

 

PROFITABILITY RATIOS

 

PARTICULARS

 

 

31.03.2017

31.03.2016

31.03.2015

Net Profit Margin [(PAT / Sales) * 100]

(%)

(6.86)

(1.92)

1.61

 

 

 

 

 

Return on Total Assets [(PAT / Total Assets) * 100]

(%)

(4.76)

(1.29)

1.01

 

 

 

 

 

Return on Investment (ROI) [(PAT / NetWorth) * 100]

(%)

(41.67)

(8.59)

6.34

 

 

SOLVENCY RATIO

 

PARTICULARS

 

 

31.03.2017

31.03.2016

31.03.2015

Current Ratio [Current Assets / Current Liabilities]

 

0.68

0.92

1.08

 

 

 

 

 

Quick Ratio [(Current Assets - Inventories) / Current Liabilities]

 

0.47

0.59

0.65

 

 

 

 

 

G-Score Ratio Financial [NetWorth / Total Assets]

 

0.11

0.15

0.16

 

 

 

 

 

G-Score Ratio Debt [Debts / Equity Capital]

 

9.97

11.33

12.83

 

 

 

 

 

G-Score Ratio Liquidity [Total Current Assets / Total Current Liabilities]

 

0.68

0.92

1.06

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

1031.063

1031.063

1031.063

Reserves & Surplus

1722.927

1580.663

806.813

Money received against share warrants

0.000

0.000

0.000

Net worth

2753.990

2611.726

1837.876

 

 

 

 

Long-term borrowings

9096.852

8115.194

7136.833

Short term borrowings

3055.545

3568.393

3143.665

Total borrowings

13230.725

11683.587

10280.498

Debt/Equity ratio

4.804

4.474

5.594

 

 

 

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

10847.088

11679.096

11156.121

 

0.000

7.670

(4.478)

 

 

 

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

10847.088

11679.096

11156.121

Profit/ (Loss)

174.565

(224.336)

(765.843)

 

1.61 %

(1.92 %)

(6.86 %)

 

 

 

ABRIDGED BALANCE SHEET – (CONSOLIDATED)

 

SOURCES OF FUNDS

 

 

31.03.2017

31.03.2016

III.   EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

 

1031.063

1031.063

(b) Reserves and Surplus

 

784.936

1570.397

(c) Money received against share warrants

 

0.000

0.000

(d) Minority interest

 

2.623

3.544

 

 

 

 

(2) Share Application money pending allotment

 

0.000

0.000

Total Shareholders’ Funds (1) + (2)

 

1815.999

2601.460

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

 

7136.832

8115.194

(b) Deferred tax liabilities (Net)

 

0.000

0.000

(c) Other long-term liabilities

 

293.284

301.924

(d) long-term provisions

 

66.098

60.767

Total Non-current Liabilities (3)

 

7496.214

8477.885

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short-term borrowings

 

3171.496

3598.602

(b) Trade payables

 

1575.769

1265.042

(c) Other current liabilities

 

2119.352

1496.574

(d) Short-term provisions

 

2.803

1.829

Total Current Liabilities (4)

 

6869.420

6362.047

 

 

 

 

TOTAL

 

16184.256

17444.936

 

 

 

 

IV.   ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

 

10341.716

10751.563

(ii) Intangible Assets

 

24.061

16.596

(iii) Tangible assets capital work-in-progress

 

21.971

46.333

(iv) Intangible assets under development

 

0.000

0.000

(b) Non-current Investments

 

0.045

0.046

(c) Deferred tax assets (net)

 

618.881

290.510

(d) Long-term loans and advances

 

423.140

448.128

(e) Other Non-current assets

 

31.706

56.566

Total Non-Current Assets

 

11461.520

11609.742

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

 

0.000

0.000

(b) Inventories

 

1517.179

2151.116

(c) Trade receivables

 

791.811

1000.142

(d) Cash and bank balances

 

36.325

99.188

(e) Short-term loans and advances

 

2266.019

2439.293

(f) Other current assets

 

111.402

145.455

Total Current Assets

 

4722.736

5835.194

 

 

 

 

TOTAL

 

16184.256

17444.936

 

 

PROFIT & LOSS ACCOUNT– (CONSOLIDATED)

 

 

PARTICULARS

 

 

31.03.2017

31.03.2016

 

SALES

 

 

 

 

Total Revenue from operations

 

11496.328

11881.273

 

Other Income

 

65.038

67.162

 

TOTAL

 

11561.366

11948.435

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

 

6265.038

5820.101

 

Purchases of Stock-in-Trade

 

301.862

794.852

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

 

154.998

198.190

 

Employee benefit expense

 

993.478

965.068

 

Other expenses

 

2963.553

2607.980

 

TOTAL

 

10678.929

10386.191

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

 

882.437

1562.244

 

 

 

 

 

Less

FINANCIAL EXPENSES

 

1391.036

1268.201

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

 

(508.599)

294.043

 

 

 

 

 

Less

DEPRECIATION/ AMORTISATION

 

603.544

605.153

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

 

(1112.143)

(311.110)

 

 

 

 

 

Less

TAX

 

(325.832)

(88.190)

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX

 

(786.311)

(222.920)

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

 

(7.626)

(2.162)

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check list by info agents

Available in Report (Yes/No)

1

Year of establishment

Yes

2

Constitution of the entity -Incorporation details

Yes

3

Locality of the entity

Yes

4

Premises details

No

5

Buyer visit details

--

6

Contact numbers

Yes

7

Name of the person contacted

Yes

8

Designation of contact person

Yes

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

11

Pan Card No. of Proprietor / Partners

No

12

Voter Id Card No. of Proprietor / Partners

No

13

Type of business

Yes

14

Line of Business

Yes

15

Export/import details (if applicable)

No

16

No. of employees

No

17

Details of sister concerns

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

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

No

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)

Long-term Borrowings

 

 

Debentures

2132.0000

2132.000

Intercorporate deposits

281.720

281.720

 

 

 

Total

2413.720

2413.720

 

 

NATURE OF OPERATIONS

 

Subject is engaged in textile manufacturing with capacities spread over seven locations encompassing ginning, spinning, weaving, processing and garmenting operations.

 

 

INDEX OF CHARGES:

 

Charges Registered

SNo

SRN

Charge Id

Charge Holder Name

Date of Creation

Date of Modification

Date of Satisfaction

Amount

Address

1

G46589313

100105520

SBICAP TRUSTEE COMPANY LIMITED

26/05/2017

-

-

3712533000.0

202, MAKER TOWER, 'E', CUFFE PARADE,COLABA,MUMBAIMH400005IN

2

G06440895

100035397

Canara Bank

28/06/2016

-

-

102600000.0

Prime Corporate Branch, Shankarnarayana BuilidngNo.25, M G RoadBangaloreKA560001IN

3

G46416459

10438187

SBICAP TRUSTEE COMPANY LIMITED

21/06/2013

26/05/2017

-

6251800000.0

202, MAKER TOWER, 'E', CUFFE PARADE,COLABA,MUMBAIMH400005IN

4

B72444961

10417216

CANARA BANK

30/03/2013

-

-

720000000.0

PRIME CORPORATE BRANCH, SHANKARNARAYANA BUILDINGNO.25, M G ROADBANGALOREKA560001IN

5

B58178898

10376665

Canara Bank (Lead Bank)

18/08/2012

-

-

8480000000.0

Prime Corporate Branch, No.25Shankaranarayana Buildings, M. G. RoadBangaloreKA560001IN

6

B57417438

10374820

State Bank of India (Lead Bank)

18/08/2012

-

-

3063000000.0

Mid Corporate Group, Speeialised Commercial BranchKannavari ThotaGunturAP522004IN

7

B05649207

10266943

CANARA BANK

11/01/2011

-

-

1000000000.0

PRIME CORPORATE BRANCH, SHANKARNARAYANA BLDG.NO.25, M G ROADBANGALOREKA560001IN

8

A22665707

10064262

CANARA BANK

03/08/2007

22/08/2007

-

2650000000.0

INDUSTRIAL FINANCE BRANCH, 5-10-194CHAKRAPANI ESTATE, SAIFABADHYDERABADAP500004IN

9

B09101528

10035650

State Bank of India

28/12/2006

30/03/2011

-

7262700000.0

Specialised Commercial BranchkannavarithotaGunturAP522004IN

10

Y10368274

90260188

STATE BANK OF INDIA

22/02/2005

-

-

127500000.0

COMMERCIAL BRANCHGUNTURAPIN

 

 

FIXED ASSETS

 

  • Land
  • Buildings
  • Plant and equipment
  • Furniture and fixtures
  • Vehicles
  • Motor vehicles
  • 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, India Prisons Service, Interpol, etc.

 

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 68.26

UK Pound

1

INR 91.22

Euro

1

INR 79.88

 

 

INFORMATION DETAILS

 

Information Gathered by :

SHR

 

 

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

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)

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.