MIRA
INFORM REPORT
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Report Date : |
16.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
MAX FLEX AND IMAGING SYSTEMS LIMITED (w.e.f. 06.06.2008) |
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Formerly Known
As : |
SILVER DIGIGRAPH PRIVATE LIMITED |
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Registered
Office : |
102 Prime Plaza JV Patel Compound, Balasaheb Madhurkar Marg,
Elphiiston (West), Mumbai 400013, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
25.10.2002 |
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Com. Reg. No.: |
137690 |
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Capital
Investment / Paid-up Capital : |
Rs 80.998 millions |
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CIN No.: [Company Identification
No.] |
U92112MH2002PLC137690 |
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TAN No.: [Tax Deduction & Collection
Account No.] |
MUMS40093E |
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PAN No.: [Permanent Account No.] |
AAHCS5086Q |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Trader of Digital and Offset Printing Consumables (Flex) |
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No. of Employees
: |
300 Approximately |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 1657336 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having satisfactory track. The
company is doing well. Trade relations are reported as fair. Business is
active. Payments are reported to be usually correct and as per commitments. The company can be considered normal 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.
INFORMATION PARTED BY
|
Name : |
Mr. Rahul Desai |
|
Designation : |
AVP of Accountant |
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Contact No.: |
91-9920228377 |
|
Date : |
15.06.2011 |
LOCATIONS
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Registered Office : |
102 Prime Plaza JV Patel Compound, Balasaheb Madhurkar Marg, Elphiiston
(West), Mumbai 400013, Maharashtra |
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Tel. No.: |
91-22-24380160 |
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Mobile No.: |
91-9920228377 (Mr. Rahul Desai) |
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Fax No.: |
91-22-24380152 |
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E-Mail : |
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Website : |
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Area : |
5000 sq.ft |
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Location : |
Owned |
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Factory : |
A – 11 MIDC, Badlapur Industrial Area, Badlapur (East) 421503, Thane,
Maharashtra, India |
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Branches : |
They have 11 branches offices all over India |
DIRECTORS
AS ON 19.08.2010
|
Name : |
Mr. Hitesh R Jobalia |
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Designation : |
Director |
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Date of Birth/Age : |
12.12.1965 |
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Date of Appointment : |
20.09.2010 |
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Name : |
Mr. Kirti Doshi |
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Designation : |
Director |
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Date of Birth/Age : |
13.03.1962 |
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Date of Appointment : |
01.04.2006 |
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Name : |
Mr. Nimesh Shah |
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Designation : |
Director |
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Date of Birth/Age : |
02.04.1964 |
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Date of Appointment : |
20.09.2010 |
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|
Name : |
Mr. Mittel Chokshi |
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Designation : |
Director |
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Date of Birth/Age : |
27.09.1970 |
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Date of Appointment : |
20.09.2010 |
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Name : |
Mr. Ramakant Naik |
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Designation : |
Director |
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Date of Birth/Age : |
30.06.1945 |
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Date of Appointment : |
20.09.2010 |
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Name : |
Mr. Anup Banerjee |
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Designation : |
Director |
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Name : |
Mrs. Dipti H Jobalia |
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Designation : |
Director |
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Date of Birth/Age : |
13.09.1965 |
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Date of Appointment : |
01.04.2006 |
KEY EXECUTIVES
|
Name : |
Mr. Rahul Desai |
|
Designation : |
AVP of Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 19.08.2010
|
Names of Shareholders |
No. of Shares |
|
Hitesh Jobalia |
5399919 |
|
Nimesh Shah |
477280 |
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Dipti Jobalia |
841224 |
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Kirti Doshi |
359351 |
|
Pine Derivatives Marketing Private Limited, Mumbai |
569060 |
|
Quest Profin Advisor Private Limited, Mumbai |
94428 |
|
Neeta Kothary |
7869 |
|
Tejal Chauhan |
7869 |
|
Rajesh Dadia |
50000 |
|
Shyam Star Gems Limited, Mumbai |
94834 |
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Bhavesh Domadia |
20000 |
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Tapas Kumar Chattopadhyay |
1000 |
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Deepak Patel |
1000 |
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Nilesh Thole |
1000 |
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Ramesh Gondal |
1000 |
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Amit Kulkar |
1000 |
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Muthuswamy Bala Subramaniam |
1000 |
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Rajendra K.S.K Raman |
1000 |
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Sanjay Shah |
1000 |
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Jayesh Vora |
1000 |
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Vinod Nagi |
2500 |
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Prashant Menon |
2500 |
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Jaspal Katrora Singh |
2500 |
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Amish Gandhi |
3000 |
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P.R. Ramnarayan |
1000 |
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P.S. Krishnan |
1000 |
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L.V. Sankar Narayan |
1000 |
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Venkatraman Bhaskar |
1000 |
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Chandramouli Nagrajan |
1000 |
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Ammula Giribabu |
1000 |
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Chittekodath Cleatus |
1000 |
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Ayush Tiwari |
1000 |
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Nishith Sheth |
2500 |
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Pankaj Jobalia |
50000 |
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Devang Bhansali |
40000 |
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Neepa Bhansali |
40000 |
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Murali Attili |
20000 |
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Ravi Subramanian |
20000 |
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Jaishankar Stanumurthy |
20000 |
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Vilas Darji |
1000 |
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Jawahar Sumondi |
1000 |
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Nupur Malpani |
1000 |
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Anjali Patel |
1650 |
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Kiran Jha |
1700 |
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Govind Shah |
1650 |
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Total |
8149834 |
AS ON 19.08.2010
|
Equity Share
Breakup |
|
Percentage of
Holding |
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Category |
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Bodies corporate |
|
9.00 |
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Directors or relatives of directors |
|
87.00 |
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Other |
|
4.00 |
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Total
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Trader of Digital and Offset Printing Consumables (Flex) |
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Exports : |
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Countries : |
Bangladesh |
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Imports : |
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Products : |
Flex |
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Countries : |
China, Taiwan |
GENERAL INFORMATION
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No. of Employees : |
300 Approximately |
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Bankers : |
·
State Bank of India, MIDC Loan Admin Unit, Shri
HAri Building, RTO Lne, Four Bungalows, Andheri (West), Mumbai 400053,
Maharashtra, India ·
State Bank of India, Backbay Reclamation Branch,
Raheja Chamber, Nariman Point, Mumbai 400021, India |
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Facilities : |
Rs. In Millions
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
D Kothary and Company Chartered Accountant |
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Address : |
149 Behram Mahal, 2nd Floor, 534, Dhobi Talao, Mumbai
400002, Maharashtra, India |
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Subsidiaries : |
Amprochem Private Limited |
CAPITAL STRUCTURE
AS ON 19.08.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
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|
15000000 |
Equity Shares |
Rs. 10 each |
Rs.150.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
8149834 |
Equity Shares |
Rs. 10 each |
Rs.81.498 millions |
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
Rs. 10 each |
Rs.150.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8099834 |
Equity Shares |
Rs. 10 each |
Rs 80.998 millions |
Of the above 4715201 shares are issued for the
consideration other than cash in the scheme of Amalgamation and Merger
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
80.998 |
79.725 |
79.201 |
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2] Share Application Money |
0.000 |
3.500 |
2.000 |
|
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3] Reserves & Surplus |
333.336 |
134.493 |
48.340 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
414.334 |
217.718 |
129.541 |
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LOAN FUNDS |
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|
|
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|
1] Secured Loans |
1110.454 |
824.810 |
479.694 |
|
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2] Unsecured Loans |
30.929 |
75.052 |
9.949 |
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TOTAL BORROWING |
1141.383 |
899.862 |
489.643 |
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DEFERRED TAX LIABILITIES |
10.127 |
2.526 |
0.000 |
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TOTAL |
1565.844 |
1120.106 |
619.184 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
291.457 |
238.783 |
93.129 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
7.652 |
1.950 |
0.600 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
1.000 |
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
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Inventories |
513.388
|
347.473 |
196.704 |
|
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Sundry Debtors |
1023.991
|
605.320 |
449.592 |
|
|
Cash & Bank Balances |
27.610
|
16.404 |
8.931 |
|
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Other Current Assets |
0.000 |
0.000 |
0.000 |
|
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Loans & Advances |
286.501
|
131.810 |
55.568 |
|
Total
Current Assets |
1851.490
|
1101.007 |
710.795 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
414.064
|
146.123 |
163.758 |
|
|
Other Current Liabilities |
31.060
|
1.683 |
0.135 |
|
|
Provisions |
139.631
|
74.725 |
23.567 |
|
Total
Current Liabilities |
584.755
|
222.531 |
187.460 |
|
|
Net Current Assets |
1266.735
|
878.476 |
523.335 |
|
|
|
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|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.897 |
1.120 |
|
|
|
|
|
|
|
|
TOTAL |
1565.844 |
1120.106 |
619.184 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
3107.824 |
2201.722 |
1030.831 |
|
|
|
Other Income |
7.913 |
2.302 |
0.353 |
|
|
|
TOTAL (A) |
3115.737 |
2204.024 |
1031.184 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials |
2557.331 |
1847.119 |
873.643 |
|
|
|
Employees Remuneration |
69.642 |
45.066 |
31.868 |
|
|
|
Selling and Distribution Expenses |
21.672 |
12.137 |
13.917 |
|
|
|
Administrative Expenses |
62.698 |
48.288 |
28.758 |
|
|
|
TOTAL (B) |
2711.343 |
1952.610 |
948.186 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
404.394 |
251.414 |
82.998 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
113.405 |
110.528 |
39.985 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
290.989 |
140.886 |
43.013 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
17.151 |
9.496 |
2.190 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
273.838 |
131.390 |
40.823 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
97.002 |
45.239 |
14.851 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
176.836 |
86.151 |
25.972 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
123.118 |
36.965 |
10.993 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
22.28 |
10.79 |
9.50 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
5.67
|
3.90 |
2.51 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.81
|
5.96 |
3.96 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.77
|
9.80 |
5.07 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.66
|
0.60 |
0.31 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.19
|
5.16 |
5.22 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.16
|
4.94 |
3.79 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS
Rs. In Millions
|
Particulars |
31.03.2010
|
31.03.2009 |
31.03.2008 |
|
|
|
|
|
|
Sundry Creditors |
414.064
|
146.123 |
163.758 |
TRADE REFERENCE:
·
Kodak India
·
HP Electro
·
Mid-Day
FIXED ASSETS:
·
Air Condition
·
Computer
·
Furniture and Fixture
·
Goodwill
·
Land and Building
·
Motor Car
·
Office Equipments
·
Plant and Machinery
FORM 8
|
Corporate
identity number of the company |
U92112MH2002PLC137690 |
|
Name of the
company |
MAX FLEX AND IMAGING SYSTEMS LIMITED (w.e.f. 06.06.2008) |
|
Address of the
registered office or of the principal place of business in |
102 Prime Plaza JV Patel Compound, Balasaheb Madhurkar Marg,
Elphiiston (West), Mumbai 400013, Maharashtra, India |
|
This form is for |
Modification of
charge |
|
Type of charge |
Immovable
property |
|
Particular of
charge holder |
State Bank of India, Backbay Reclamation Branch, Raheja Chamber,
Nariman Point, Mumbai 400021, India Email: s.rane@sbi.co.in |
|
Nature of
instrument creating charge |
Memorandum of
Entry |
|
Date of
instrument Creating the charge |
06.08.2010 |
|
Amount secured by
the charge |
Rs. 1712.800
millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Extent and operation of the charge First charge |
|
Short particulars
of the property charged (Including location of the property) |
Unit No. 4-B-2, admn.
1550 sq. feet, in Prime Plaza Building no. 1, Ground floor, J.V. Patel
Compound, B.M. Marg, Elphinston (West), Mumbai 400 013 Gala No. 7, admn.
1507 sq. feet (carpet) on Ground floor of Building No. 3, J.V. Patel Compound,
Carroll Road, Lower Parel, Mumbai Gala No. 2, admn.
2,750 sq. feet, on Ground floor, Sadhana Indl. Estate, Village Oshiwara,
Andheri, Mumbai Old Door No. 7,
New Door No. 15, Bharati Salai, (Pycroft Road), Triplicane, Chennai 600 005,
comprised in R.S. No.2606/2 admn. 1,354 sq. feet Unit No. 104, 1st
floor in Prime Plaza, B.M. Marg, Opp. Elphinston Road Station (West), Mumbai
400 013 RCC godown
bearing Nos.14, on Ground floor, in Building No. H known as 'Maa Padmavati
Complex', situated in Mauje Val, Taluka Bhiwandi, Dist. Thane, Maharashtra RCC godown
bearing Nos.15 and 16, on Ground floor, in Building No. H known as 'Maa
Padmavati Complex', situated in Mauje Val, Taluka Bhiwandi, Dist. Thane,
Maharashtra Office Nos. 1 and
2, Shreenath Estate -02, Near Pragati High School, Opp. Anupam Cinema,
Khokhre, Ahmedabad, Gujarat. RCC godown Nos.
13 and 14, each admn. 3,000 sq. feet, on Ground floor of the Building No. C/2
in Sagar Complex, Village Ovali, Taluka Bhiwandi, Dist. Thane, Maharashtra. |
|
Date of
instrument modifying the charge |
12.01.2010 |
|
Particulars of
the present modification |
Equitable
mortgage created on following immovable properties of the Company extended on
04/06/2008 to secure the enhanced credit limit of Rs.450 millions., on 05/05/2009
to secure the enhanced credit limit of Rs.900 millions,on 08/10/2009 to
secure the enhanced credit facilities of Rs.1400 millions, and on 12/01/2010
to secure the enhanced credit facilities of Rs.1410.800 millions, again
extended to secure the enhanced credit limits aggregating to Rs.1712.800
millions : 1) Unit No.
4-B-2, admn. 1,550 sq. feet, in Prime Plaza Bldg. No. 1, Ground floor, J.V.
Patel Compound, B.M. Madhukar Marg, Elphinston (West), Mumbai 400 013; 2) Gala No. 7, admn.
1,507 sq. feet i.e. 140 sq. meters (carpet area), on Ground floor of Building
No. 3, standing on the property bearing Cadastral Survey No. 844(P) of Lower
Parel Division, Carroll Road, Lower Parel, Mumbai; 3) Gala no. 2,
admn. 2,750 sq. feet, Ground floor, Sadhana Industrial Estate, bearing CTS
No. 471 of Village Oshiwara, Taluka Andheri, Mumbai. Also, Equitable
mortgage created on following immovable properties of the Company (as
described in Column 15(iv) to 15 (vii) of Form 8, on 05/05/2009 to secure the
enhanced limits of Rs.900 millions, extended on 08/10/2009 to further secure
the enhanced credit limits of Rs.1400 millions and extended on 12/01/2010 to
secure the enhanced credit limits of Rs.1410.800 millions, again extended to
further secure the enhanced credit limits of Rs.1712.800 millions 1) Old Door No.
7, New Door No. 1, Bharati Salai (Pycroft Road), Triplicane, Chennai 600005,
comprised in R.S. No. 2606/2, admn. 1,354 sq. feet. 2) Unit No. 104,
1st floor, Prime Plaza Premises, B.M. Marg, Opp. Elhinston Road Station
(West), Mumbai 400 013 3) RCC Godown
bearing no. 14, Ground floor in Building No. H known as ‘Maa Padmavati
Complex’, situated on NA land bearing No. 35/4,5,6, 46/2, 46/3, 46/4, 46/5,
46/6, 47/4, Survey No. 49/1 (paiki), 56/1 at Muje Val, Taluka Bhiwandi, Dist.
Thane, Maharashtra 4) RCC Godown
bearing no. 15 and 16, Ground floor in Building No. H known as ‘Maa Padmavati
Complex’, situated on NA land bearing No. 35/4,5,6, 46/2, 46/3, 46/4, 46/5,
46/6, 47/4, Survey No. 49/1 (paiki), 56/1 at Muje Val, Taluka Bhiwandi, Dist.
Thane, Maharashtra Further,
equitable mortgage created on 08/10/2009 on Office premises at ˝ Shreenath
Estate-02, Near Pragati High School, Opp. Anupam Cinema, Khokhre, Ahemdabad,
Gujarat, (as decribed in Column 15(viii) of the Form 8, belonging to the
Company, to secure the credit facilities of Rs.1400.000 millions and extended
on 12/01/2010 to secure the enhanced credit limits aggregating to Rs.1410.800
millions, again extended to further secure the enhanced credit limits of
Rs.1712.800 millions. Similarly,
equitable mortgage created on Flat no. 101, 1st floor, Nav Krishna Kunj CHS
Limited, 212, Walkeshwar
Road, Mumbai 400 006 standing in the name of Mr. Hemant R. Shah (as described in
Column 15(ix) of Form 8 on 08/10/2009 to secure the credit facilities of Rs.
1400.000 millions and extended on 12/01/2010 to secure the enhanced credit
limits aggregating to Rs.1410.800 millions again extended to further secure
the enhanced credit limits of Rs.1712.800 millions. |
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.68 |
|
|
1 |
Rs.73.04 |
|
Euro |
1 |
Rs.64.29 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
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 |
|
TOTAL |
|
49 |
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 and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.