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MIRA INFORM REPORT
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Report No. : |
511121 |
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Report Date : |
29.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
EQUINOX SOLUTIONS LIMITED (w.e.f 21.08.2003) |
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Formerly Known
As : |
EQUINOX SOLUTIONS PRIVATE LIMITED (w.e.f 08.08.2003) KELVIN METAL KRAFTS PRIVATE LIMITED |
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Registered
Office : |
41, Nobles, A Building, Ashram Road, Ahmedabad – 380006, Gujarat |
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Tel. No.: |
91-79-40215000/ 26400472 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
08.10.1984 |
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Com. Reg. No.: |
04-007317 |
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Capital
Investment / Paid-up Capital : |
INR 10.945 Million |
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CIN No.: [Company Identification
No.] |
U29190GJ1984PLC007317 |
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IEC No.: [Import-Export Code No.] |
0803006357 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
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PAN No.: [Permanent Account No.] |
AAACK6136C |
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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 declined 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 |
|
Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 1984. For the financial year 2017, the company has achieved 21.59% growth in
its revenue as compared to the previous year revenue but has reported low
profit margin of 0.29%. The rating takes into consideration satisfactory financial profile of
the company marked by comfortable net worth base along with negligible debt
level. The rating also takes into consideration the subject’s long
established track record of the business operations along with extensive
experience of its promoters. Business is active. Payment seems to be slow but correct. In view 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Cash Credit (issuer not cooperating) = BBB+ |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
02.11.2017 |
|
Rating Agency Name |
ICRA |
|
Rating |
Credit Exposure (issuer not cooperating) = A4 |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
02.11.2017 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2018.
BIFR (Board for Industrial & Financial
Reconstruction) LISTING STATUS
Subject’s name is
not listed as a Sick Unit in the publicly available BIFR (Board for Industrial
& Financial Reconstruction) list as of 29.05.2018
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
|
Name : |
Mr. Deepak |
|
Designation : |
Office Executive |
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Contact No.: |
91-79-26400472 |
|
Date : |
24.05.2018 |
MANAGEMENT NON-COOPERATIVE: Tel. No.:
91-79-26400472
LOCATIONS
|
Registered Office : |
41, Nobles, A Building, Ashram Road, Ahmedabad – 380006, Gujarat,
India |
|
Tel. No.: |
91-79-40215000 / 26400472 |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Corporate Office
: |
303, Swagat Building, C G Road, Ahmedabad – 380006, Gujarat, India |
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Tel. No.: |
91-79-40215000/ 26400472 |
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Fax No.: |
91 79-26561770 |
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E-Mail : |
DIRECTORS
As on 2018
|
Name : |
Mr. Naishadh Indrakant Parikh |
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Designation : |
Managing Director |
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Address : |
Krishna Kunj, Shahibaug, Ahmedabad – 380004, |
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Date of Birth/Age : |
02.10.1954 |
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Date of Appointment : |
21.08.2008 |
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DIN : |
00009314 |
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Name : |
Mrs. Neena Naishadh Parikh |
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Designation : |
Managing Director |
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Address : |
Krishnakunj, Opposite Police Stadium Shahibaug,
Ahmedabad-380004, |
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Date of Birth/Age : |
24.01.1954 |
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Date of Appointment : |
05.01.2003 |
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DIN : |
00180972 |
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Name : |
Mr. Ashitbhai Sunderlal Parikh |
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Designation : |
Director |
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Address : |
Krishna Kunj, 82, Basant Bahar-1, Near Sterling City,
Bopal , Ahmedabad-380058, |
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Date of Birth/Age : |
15.05.2017 |
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DIN : |
00650577 |
KEY EXECUTIVE
|
Name : |
Mr. Deepak |
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Designation : |
Office Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Naishadh Indrakant Parikh |
|
44000 |
|
Naishadh Indrakant Parikh HUF |
|
20000 |
|
Avikal Tradelink Private Limited |
|
1020000 |
|
Neena Naishadh Parikh |
|
4950 |
|
Anokhee Naishadh Parikh |
|
1650 |
|
Aneri Naishadh Parikh |
|
3300 |
|
Sunderlal T Parikh Ashit Sunderlal Parikh |
|
600 |
|
Total |
|
1094500 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2017
|
Category |
Percentage |
|
Promoter – (Individual/ Hindu Undivided
Family – Indian) |
6.81 |
|
Promoter - Bodies
corporate |
93.19 |
|
Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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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 declined by the management |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
N.C Shah Thakkar and Company Chartered Accountants |
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Address : |
106, Sears Tower, Off. C. G. Road, Near White House, Gulbai Tekra,
Ahmedabad – 380006, Gujarat, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAFFN1453P |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding Company : |
U65910GJ1983PTC006639 |
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Enterprises in which key management personal is able to exercise
significant influence : |
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CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1099500 |
Equity Shares |
INR 10/- each |
INR 10.995 Million |
|
5000 |
Preference Shares |
INR 1/- each |
INR 0.005 Million |
|
|
|
|
|
|
|
Total |
|
INR 11.000
Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1094500 |
Equity Shares |
INR 10/- each |
INR 10.945
Million |
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|
|
|
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 |
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|
|
|
(1)Shareholders' Funds |
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|
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|
(a) Share Capital |
10.945 |
10.945 |
10.945 |
|
(b) Reserves & Surplus |
42.338 |
41.385 |
40.289 |
|
(c) Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
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|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
53.283 |
52.330 |
51.234 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1.564 |
3.109 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
0.103 |
0.127 |
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) |
1.667 |
3.236 |
0.000 |
|
|
|
|
|
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
48.203 |
48.852 |
50.559 |
|
(b) Trade payables |
54.942 |
52.746 |
22.113 |
|
(c) Other current liabilities |
28.399 |
17.559 |
16.331 |
|
(d) Short-term provisions |
2.710 |
2.255 |
2.766 |
|
Total
Current Liabilities (4) |
134.254 |
121.412 |
91.769 |
|
|
|
|
|
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TOTAL |
189.204 |
176.978 |
143.003 |
|
|
|
|
|
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II.
ASSETS |
|
|
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|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
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|
(i) Tangible assets |
8.128 |
10.775 |
7.073 |
|
(ii) Intangible Assets |
0.209 |
0.391 |
0.574 |
|
(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 |
0.311 |
0.311 |
0.311 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.015 |
|
(d) Long-term Loan and Advances |
28.373 |
28.428 |
28.377 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
37.021 |
39.905 |
36.350 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
46.823 |
40.039 |
33.244 |
|
(c) Trade receivables |
78.135 |
66.491 |
53.059 |
|
(d) Cash and cash equivalents |
4.135 |
15.091 |
4.982 |
|
(e) Short-term loans and
advances |
22.662 |
15.250 |
15.171 |
|
(f) Other current assets |
0.428 |
0.202 |
0.197 |
|
Total
Current Assets |
152.183 |
137.073 |
106.653 |
|
|
|
|
|
|
TOTAL |
189.204 |
176.978 |
143.003 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
321.014 |
264.013 |
248.153 |
|
|
Other Income |
0.416 |
2.320 |
0.237 |
|
|
TOTAL
|
321.430 |
266.333 |
248.390 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Purchases of Stock-in-Trade |
262.331 |
209.702 |
171.237 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(2.621) |
(8.353) |
0.433 |
|
|
Employees benefits expense |
30.096 |
41.610 |
37.027 |
|
|
Other expenses |
23.134 |
14.166 |
25.466 |
|
|
TOTAL |
312.940 |
257.125 |
234.163 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
8.490 |
9.208 |
14.227 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
5.453 |
6.210 |
6.476 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
3.037 |
2.998 |
7.751 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
1.653 |
1.344 |
1.456 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
1.384 |
1.654 |
6.295 |
|
|
|
|
|
|
|
Less |
TAX |
0.431 |
0.558 |
1.949 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
0.953 |
1.096 |
4.346 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
39.728 |
38.632 |
34.286 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
40.681 |
39.728 |
38.632 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
5.935 |
52.455 |
14.094 |
|
|
TOTAL
EARNINGS |
5.935 |
52.455 |
14.094 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Goods Traded |
44.108 |
59.396 |
107.863 |
|
|
TOTAL
IMPORTS |
44.108 |
59.396 |
107.863 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
0.87 |
1.00 |
3.97 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
1.941 |
1.941 |
1.450 |
|
Cash generated from operations |
NA |
NA |
17.320 |
|
Net cash flow from operating activity |
NA |
NA |
15.482 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
88.84 |
91.92 |
78.04 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
4.11 |
3.97 |
4.68 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
76.44 |
91.81 |
47.13 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.18 |
0.23 |
0.43 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
1.02 |
0.82 |
1.86 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.73 |
0.71 |
0.65 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.97 |
1.03 |
1.02 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities
/ Net Worth) |
2.52 |
2.32 |
1.79 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.16 |
0.21 |
0.15 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
1.56 |
1.48 |
2.20 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
0.30 |
0.42 |
1.75 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
0.50 |
0.62 |
3.04 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
1.79 |
2.09 |
8.48 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.13 |
1.13 |
1.16 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.78 |
0.80 |
0.80 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.28 |
0.30 |
0.36 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
4.72 |
4.92 |
4.75 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.13 |
1.13 |
1.16 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are INR
Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
10.945 |
10.945 |
10.945 |
|
Reserves & Surplus |
40.289 |
41.385 |
42.338 |
|
Net
worth |
51.234 |
52.330 |
53.283 |
|
|
|
|
|
|
Long Term borrowings |
0.000 |
3.109 |
1.564 |
|
Short Term borrowings |
50.559 |
48.852 |
48.203 |
|
Current Maturities of Long term debt |
1.450 |
1.941 |
1.941 |
|
Total
borrowings |
52.009 |
53.902 |
51.708 |
|
Debt/Equity
ratio |
1.015 |
1.030 |
0.970 |
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
|
248.153 |
264.013 |
321.014 |
|
|
|
6.391 |
21.590 |
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
|
248.153 |
264.013 |
321.014 |
|
Profit |
4.346 |
1.096 |
0.953 |
|
|
1.75% |
0.42% |
0.30% |
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 |
BUSINESS
OPERATIONS:
During the year, the company had achieved an Income from Operations of
INR 321.400 Million as compared to INR 266.300 Million during the previous
year, registering an increase of INR 55.100 Million. The company could
withstand the continued stagnant Capital Investment scenario in the company.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Short-term
borrowings |
|
|
|
Loan repayable on demand from Directors |
7.500 |
7.500 |
|
Total |
7.500 |
7.500 |
INDEX
OF CHARGES:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of
Modification |
Date of
Satisfaction |
Amount |
Address |
|
1 |
C13788971 |
10063442 |
State Bank of India |
26/07/2007 |
17/05/2014 |
- |
59500000.0 |
MID CORPORATE BRANCH, ZODIAC AVENUE, OPPOSITE COMMISSIONER'S BUNGLOWS, LAW GARDEN, AHMEDABAD – 380006, GUJARAT, INDIA |
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
Estimated value of contracts on capital account
excluding capital advances, remaining to be executed. |
8.796 |
8.796 |
|
Claims against the company not acknowledge
as debts on account of disputed custom duty |
1.011 |
1.011 |
FIXED ASSETS
- Plant and Equipment
- Furniture and Fixture
- Vehicle
- Office Equipment
- Computers
- Electrical Installation
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 68.26 |
|
|
1 |
INR 91.21 |
|
Euro |
1 |
INR 79.88 |
INFORMATION DETAILS
|
Information
Gathered by : |
SRY |
|
|
|
|
Analysis Done by
: |
VRS |
|
|
|
|
Report Prepared
by : |
SUJ |
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.