MIRA
INFORM REPORT
|
Report Date : |
21.11.2011 |
IDENTIFICATION DETAILS
|
Name : |
UTSAV AGRO - PRODUCTS PRIVATE LIMITED |
|
|
|
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Registered
Office : |
Flat No.7F, 7th Floor, Annapurna Apartments, 68, |
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Country : |
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|
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
23.01.2004 |
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Com. Reg. No.: |
21-097671 |
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|
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Capital
Investment/ Paid-up Capital: |
Rs. 39.426 Millions |
|
|
|
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CIN No.: [Company Identification
No.] |
U01409WB2004PTC097671 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALU03367A |
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PAN No.: [Permanent Account No.] |
AAACU6657Q |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Exporter of |
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No. of
Employees: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 670000 |
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|
Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Profitability
of the company appears to be low. However, trade relations are reported as fair.
Business is active. Payments are reported to be slow. The company can be considered for business dealings with some caution. |
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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
Flat No.7F, 7th Floor, Annapurna Apartments, 68, |
|
Tel No: |
91-342-2454721 |
|
E-Mail : |
DIRECTORS
As on 29.09.2011
|
Name : |
Mrs. Usha Agarwala |
|
Designation : |
Director |
|
Address : |
Bakultala, P.O. Kalna, Burdwan - 713409, West |
|
Date of Birth/Age : |
25.10.1959 |
|
Date of Appointment : |
23.01.2004 |
|
DIN NO: |
00494307 |
Other Directorship:
|
S.No. |
CIN |
Name of the Company |
Current designation
of the director |
Date of appointment
at current designation |
Original date of
appointment |
Date of cessation |
Company Status |
Defaulting status |
|
1 |
U01409WB2004PTC097671 |
Utsav Agro-Products Private Limited |
Director |
23-01-04 |
23-01-04 |
- |
Active |
NO |
|
2 |
U70101WB2006PTC110757 |
New Mahasweta Infrastructure Private Limited |
Director |
14-02-07 |
14-02-07 |
25-02-09 |
Active |
NO |
|
3 |
U51109WB2008PTC125778 |
Daffodil Distributors Private Limited |
Director |
01-03-11 |
01-03-11 |
- |
Active |
NO |
|
4 |
U51909WB2007PTC114871 |
Agarwal Trading Company Private Limited |
Director |
01-03-11 |
01-03-11 |
- |
Active |
NO |
|
Name : |
Mrs. Khusboo Agarwala |
|
Designation : |
Director |
|
Address : |
Flat – 12 B, Ideal Tower 57, Diamond Harbour Road, Kolkata – 700023,
West Bengal , India |
|
Date of Birth/Age : |
12.05.1980 |
|
Date of Appointment : |
14.05.2008 |
|
DIN NO: |
00784097 |
Other Directorship:
|
.No. |
CIN |
Name of the Company |
Current designation
of the director |
Date of appointment
at current designation |
Original date of
appointment |
Date of cessation |
Company Status |
Defaulting status |
|
1 |
U51909WB2007PTC114871 |
Agarwal Trading Company Private Limited |
Director |
29-03-07 |
29-03-07 |
- |
Active |
NO |
|
2 |
U65190WB2008PLC121783 |
Saarthi Lifestyles Limited |
Director |
16-01-08 |
16-01-08 |
09-08-08 |
Active |
NO |
|
3 |
U01409WB2004PTC097671 |
Utsav Agro-Products Private Limited |
Director |
14-05-08 |
14-05-08 |
- |
Active |
NO |
|
4 |
U51109WB2008PTC125778 |
Daffodil Distributors Private Limited |
Director |
27-05-08 |
27-05-08 |
- |
Active |
NO |
|
5 |
U51109WB2007PTC118795 |
Hirak Vinimay Private Limited |
Director |
10-07-09 |
10-07-09 |
12-08-09 |
Active |
NO |
|
Name : |
Mr. Amit Agarwal |
|
Designation : |
Director |
|
Address : |
Bakultala, P.O. Kalna, Burdwan - 713409, West |
|
Date of Birth/Age : |
18.08.1978 |
|
Date of Appointment : |
23.01.2004 |
|
DIN NO: |
00485345 |
Other Directorship:
|
S.No. |
CIN |
Name of the Company |
Current designation
of the director |
Date of appointment
at current designation |
Original date of
appointment |
Date of cessation |
Company Status |
Defaulting status |
|
1 |
U15314WB1998PTC087370 |
Utsav Rice Mill Private Limited |
Director |
01-09-08 |
17-01-00 |
30-12-10 |
Active |
NO |
|
2 |
U01409WB2004PTC097671 |
Utsav Agro-Products Private Limited |
Director |
23-01-04 |
23-01-04 |
- |
Active |
NO |
|
3 |
U51909WB2007PTC114871 |
Agarwal Trading Company Private Limited |
Director |
29-03-11 |
29-03-07 |
- |
Active |
NO |
|
4 |
U65190WB2008PLC121783 |
Saarthi Lifestyles Limited |
Director |
16-01-08 |
16-01-08 |
09-08-08 |
Active |
NO |
|
5 |
U51109WB2008PTC125778 |
Daffodil Distributors Private Limited |
Director |
27-05-08 |
27-05-08 |
11-03-11 |
Active |
NO |
|
6 |
U51109WB2007PTC118795 |
Hirak Vinimay Private Limited |
Director |
26-06-09 |
26-06-09 |
12-08-09 |
Active |
NO |
|
7 |
U40103WB2010PLC151602 |
Utsav Energy Limited |
Director |
23-07-10 |
23-07-10 |
- |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 29.09.2011)
|
Names of Shareholders |
|
No. of Shares |
|
Binit Agarwal |
|
39500 |
|
Amit Agarwal |
|
771340 |
|
Sambhunath Agarwal |
|
192500 |
|
Usha Agarwal |
|
222800 |
|
Khusboo Agarwal |
|
470000 |
|
Krishiv Suppliers Private Limited, |
|
1108000 |
|
Krishiv Commotrade Private Limited, |
|
1138500 |
|
Anant Holdings Private Limited, |
|
62500 |
|
Antony Plastics Private Limited, |
|
62500 |
|
Aroto Trade India Private Limited, |
|
62500 |
|
Longview Finvest Private Limited, |
|
125000 |
|
Mortex Light India Private Limited, |
|
62500 |
|
Shweta Trade Services Private Limited, |
|
62500 |
|
Tatpar Dealer Private Limited, |
|
62500 |
|
Tropex Suppliers Private Limited, |
|
75000 |
|
Wizard Merchandise Private Limited, |
|
62500 |
|
Total |
|
4580140 |
Equity Share Break up (Percentage of Total Equity)
(AS ON 29.09.2011)
|
Category |
|
Percentage |
|
Bodies corporate |
|
62.97 |
|
Directors or relatives of directors |
|
37.03 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Exporter of India Rice Bran Products. |
GENERAL INFORMATION
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
P. Dudheria and Company Chartered Accountants |
|
Address : |
3A, |
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Tel. No.: |
91-33-22318787/ 8788/ 40047100 |
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Fax No.: |
91-33-22621086 |
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E-Mail : |
|
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PAN NO: |
ACPPD3393L |
CAPITAL STRUCTURE
As on 29.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Share |
Rs.10/- each |
Rs. 50.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4580140 |
Equity Share |
Rs.10/- each |
Rs. 45.801
Millions |
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4000000 |
Equity Share |
Rs.10/- each |
Rs. 40.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3942640 |
Equity Share |
Rs.10/- each |
Rs. 39.426
Millions |
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 |
39.426 |
28.458 |
0.100 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
127.498 |
78.133 |
0.000 |
|
|
4] (Accumulated Losses) |
(0.098) |
(0.169) |
(0.145) |
|
|
NETWORTH |
166.826 |
106.422 |
(0.045) |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
310.088 |
82.594 |
0.000 |
|
|
2] Unsecured Loans |
6.500 |
5.500 |
0.000 |
|
|
TOTAL BORROWING |
316.588 |
88.094 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
483.414 |
194.516 |
(0.045) |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
298.701 |
2.483 |
0.000 |
|
|
Capital work-in-progress |
0.000 |
180.012 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
134.512
|
0.000 |
0.000 |
|
|
Sundry Debtors |
39.609
|
0.000 |
0.000 |
|
|
Cash & Bank Balances |
16.397
|
0.290 |
0.058 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
8.819
|
4.323 |
0.000 |
|
Total
Current Assets |
199.337
|
4.613 |
0.058 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
8.550
|
5.113 |
0.103 |
|
|
Other Current Liabilities |
6.062
|
0.196 |
0.000 |
|
|
Provisions |
0.012
|
0.069 |
0.000 |
|
Total
Current Liabilities |
14.624
|
5.378 |
0.103 |
|
|
Net Current Assets |
184.713
|
(0.765) |
(0.045) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
12.786 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
483.414 |
194.516 |
(0.045) |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
662.632 |
0.498 |
0.000 |
|
|
|
Other Income |
|
|
0.000 |
|
|
|
TOTAL |
662.632 |
0.498 |
0.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
662.548 |
0.522 |
0.029 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
662.548 |
0.522 |
0.029 |
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
0.084 |
(0.024) |
(0.029) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.013 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
0.071 |
(0.024) |
(0.029) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(0.169) |
(0.145) |
(0.116) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(0.098) |
(0.169) |
(0.145) |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(3.97) |
(0.01) |
(2.91) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
0.01
|
(4.81) |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.01
|
(0.33) |
(50.00) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00
|
(0.00) |
(0.64) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.98
|
0.87 |
(2.28) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
13.63
|
0.85 |
0.56 |
LOCAL AGENCY FURTHER INFORMATION
Note:
The Registered Office of the company has been shifted from 25,
Bankers Charges
Report as per Registry
|
Corporate identity
number of the company |
U01409WB2004PTC097671 |
|
Name of the
company |
UTSAV AGRO - PRODUCTS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Flat No. 7 F, 7th Floor, Annapurna Apartments, 68, Email: dudheria.co@gmail.com |
|
This form is for |
Modification of Charge |
|
Charge identification (ID) number of the charge to be
modified |
10140314 |
|
Type of charge |
|
|
Particular of
charge holder |
Axis Bank Limited, Burdwan Branch, Email: m.ramesh@axisbank.com |
|
Nature of
instrument creating charge |
Link Document for
Earmarking of Limit and Interchangeability |
|
Date of
instrument Creating the charge |
06.09.2010 |
|
Amount secured by
the charge |
Rs. 180.500
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest: CC/EPC/EBD-Base
Rate+2.00% p.a. presently at 9.75% p.a. Terms of Repayment: 1) CC: on Demand,
upto 14.11.2010, EPC: upto 14.11.2010 with maximum usance period of 60 days,
EBD: upto 14.11.2010, outstanding of individual bills to be liquidated within
a maximum 90 days from the date of shipment LER : 6 months
till 14.11.2010 Margin: CC/EPC : On Raw
Materials 25%, On Stock in Process : 25%, On finished goods : 25%, On sundry
debtors (upto 90 days) : 30%, On stores and spares : 25% EBD : Nil Extent and Operation of the charge: Primary : CC/EPC
: Hypothecation of entire stocks of raw materials, stock in process, finished
goods, stores, receivables and all other current assets of the company both
present and future, ranking paripassu with UCO Bank. EBD : Export
Bills with title to the goods duly endorsed in favour of the Bank and extension
of charge on all current assets both present and future, ranking paripassu
with UCO Bank. Others: Extension of
charge on factory land and building/godowns/sheds and other immovables fixed assets
and extension of charge on the entire plant and machineries, furniture and
fixtures and other movable fixed assets of company ranking paripassu with UCO
Bank. EM of residential flats at Kolkata in the name of Amit Agarwal and
Binit Agarwal and land and building at Bakultala, P.O. Kalna in the name of
Shambunath Agarwal |
|
Short Particulars
of the property or assets charged |
Primary: CC/
EPC:Hypothecation of entire stocks of raw materials, stock in process,
finished goods, stores, receivables and other current assets of the company
present and future, ranking paripassu with UCO Bank EBD: Export bills with
title to the goods duly endorsed in favour of the Bank and extension of
charge on all current assets both present and future, ranking paripassu with
UCO Bank. Charge on factory
land, building/godown/sheds and other immovable fixed assets, entire plant
and mach, furniture and fixtures and other movable fixed assets of the
company ranking paripassu with UCO Bank. EM of residential
flat no. 12B and 13B in Ideal Towers, 57, Diamond Harbour Rd, Kolkata in the
name of Amit Agarwal and Binit Agarwal, ranking paripassu with UCO Bank. EM on land and
building at Bakulata, P.O. Kalna, Dist. Burdwan L.R. Dag No. 5849, L.R.Kh.No.
12075 in the name of Shambunath Agarwal, both present and future, ranking
paripassu with UCO Bank. EM of Residential
Flat at " |
|
Date of Last
Modification prior to the present modification |
29.06.2009 |
|
Particulars of the present modification |
Interchangeability
of EPC/EBD and LER allowed with existing Cash Credit limit of Rs. 82.000
Millions as follows : Cash Credit/Export
Packing Credit/Export Bill Discounting (fully interchangeable as sublimit of
overall CC limit) - Rs. 82.000 Millions, EPC: Rs. 40.000 Millions (sublimit
of overall CC limit), EBD: Rs. 40.000 Millions (fully interchangeable between
EPC and EBD, sublimit of overall CC limit) LER limit on Forward Contracts -
Rs. 5.000 Millions (as a sublimit of overall CC limit), TL - Rs. 95.000
Millions, BG-Rs. 3.500 Millions remain same. |
Fixed Assets:
- Land and Land Development
- Furniture and Fixtures
- Electrical Equipments
- Factory Buildings
- Other Buildings
- Plant and Machinery
- Miscellaneous Fixed Assets
- Motor Car
- Cycles
- Computer
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.51.35 |
|
|
1 |
Rs.80.97 |
|
Euro |
1 |
Rs.69.25 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
28 |
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.