MIRA INFORM REPORT

 

 

Report Date :

16.09.2011

 

IDENTIFICATION DETAILS

 

Name :

HINDUSTAN PLATINUM PRIVATE LIMITED

 

 

Formerly Known As :

RAVINDRA HERAEUS PRIVATE LIMITED

 

 

Registered Office :

C 122, TTC Industrial Area, Pawane, Navi Mumbai – 400703, Maharashtra

 

 

Country :

India

 

 

Financials (as on) :

31.03.2010

 

 

Date of Incorporation :

04.10.1961

 

 

Com. Reg. No.:

11-12143

 

 

Capital Investment / Paid-up Capital :

Rs.42.740 Millions

 

 

CIN No.:

[Company Identification No.]

U74999MH1961PTC012143

 

 

TAN No.:

(Tax Deduction & Collection Account No.)

MUMH00234D

 

 

PAN No.:

[Permanent Account No.]

AAACH1111J

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturers of precious metals products having industrial applications across a broad spectrum of industries

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (51)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 3350572

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Comments :

Subject is a well established and reputed company having fine track. Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitments. 

 

The company can be considered for 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.

 

ECGC Country Risk Classification List – April 1, 2010

 

Country Name

Previous Rating

(31.12.2009)

Current Rating

(01.04.2010)

India

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/ Factory :

C 122, TTC Industrial Area, Pawane, Navi Mumbai – 400703, Maharashtra, India

Tel. No.:

91-22-27683006 Extn. 329

Fax No.:

91-22-27630413/ 27619398/99

E-Mail :

info@hpl.com

Website :

http://www.hp.co.in

 

 

Administrative Office / Factory  :

Shanti Nagar, Vakola, Santacruz (East), Mumbai 400055, Maharashtra.

Tel. No.:

91-22-26105791

Fax No.:

91-22-26106737

E-Mail :

info@hp.co.in 

Website :

http://www.hp.co.in

 

 

DIRECTORS

 

As on 28.09.2010

 

Name :

Mr. Shashikant Sajanlal Choksi

Designation :

Managing Director

Address :

58 – Manglika, Presidency Society, 7th N S Road, JVPD Scheme, Vile Parle (West), Mumbai - 400049

Date of Birth/Age :

27.11.1938

Date of Appointment :

08.11.1971

DIN No.:

00526472

 

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

U74999MH1961PTC012143

HINDUSTAN PLATINUM PRIVATE LIMITED

Managing director

08-11-71

08-11-71

-

Active

NO

2

U67120MH1976PTC019207

CHOKSI INVESTMENT PRIVATE LIMITED

Director

06-09-76

06-09-76

-

Active

NO

 

 

Name :

Mr. Abhay Sajanlal Choksi

Designation :

Whole-time Director

Address :

222-A, Grand Paradi, Dadi Seth Hill, August Kranti Marg, Mumbai – 400036

Date of Birth/Age :

1.12.1948

Date of Appointment :

17.07.1980

DIN No.:

00526769

 

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

U74999MH1961PTC012143

HINDUSTAN PLATINUM PRIVATE LIMITED

Whole-time director

17-07-80

17-07-80

-

Active

NO

2

U40108MH2003PTC142293

Pink Ginger Arts Private Limited

Director

15-09-08

15-09-08

-

Active

NO

 

Name :

Mr. Vikram Sajanlal Choksi

Designation :

Whole-time Director

Address :

20 Mangal President Society, 7th N.S. Road, JVPD Scheme, Vile Parle (West), Mumbai - 400049

Date of Birth/Age :

24.04.1953

Date of Appointment :

17.07.1980

DIN No.:

00526890

 

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

1

U74999MH1961PTC012143

HINDUSTAN PLATINUM PRIVATE LIMITED

Whole-time director

17-07-80

17-07-80

-

Active

2

U93000MH2003PTC142518

SOS MEDIA PRIVATE LIMITED

Director

06-10-03

06-10-03

-

Active

 

Name :

Mr. Ashok Sajanlal Choksi

Designation :

Whole-time Director

Address :

221- A, Grand Paradi, Dadi Seth Hill, August Kranti Marg, Mumbai - 400036

Date of Birth/Age :

24.05.1947

Date of Appointment :

17.07.1980

DIN No.:

00526715

 

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

U74999MH1961PTC012143

HINDUSTAN PLATINUM PRIVATE LIMITED

Whole-time director

17-07-80

17-07-80

-

Active

NO

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 28.09.2010

 

Names of Shareholders

 

No. of Shares

Shashikant Sajanlal Choksi HUF

 

120060

Shashikant Sajanlal Choksi and Bharti Sajanlal Choksi

 

12030

Bharti Sajanlal Choksi and Shashikant Sajanlal Choksi

 

294300

Shashikant Sajanlal Choksi

 

243080

Bharti Sajanlal Choksi

 

19140

Ashish Sajanlal Choksi and Bharti Sajanlal Choksi

 

108930

Ashish Sajanlal Choksi an Shashikant Choksi

 

14120

Madhulika A. Choksi and Abhay Sajanlal Choksi

 

227100

Pallavi V. Choksi

 

128680

Rushabh V. Choksi

 

271090

Gaurav A. Choksi, Abhay s. Choksi and Madhulika A. Choksi

 

295710

 

AS ON 30.09.2010

 

Equity share breakup

 

Category

Percentage

Directors or relatives of directors

100.00

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturers of precious metals products having industrial applications across a broad spectrum of industries

 

 

Products :

Product Description

Item Code (ITC Code)

Chemical Catalyst and Compounds of Precious Metals

381512.01

Electrical Contact Made of Silver and Silver Alloys

853810.09

 

  • Job Work Charges

PRODUCTION STATUS as on 31.03.2009

 

Particulars

 

Unit

Installed Capacity

Actual Production

Scientific instruments, Electrical contracts, Wire Gauze catalysts, Precious metal compounds and

 

KGS

237070

93882

Catalysts, Spinnerettes, Bushings, Targets, Stirrers, Jewellery Alloys etc.

 

NOS

15000

855

Power Generation

 

KWH

73584

13852

 

 

GENERAL INFORMATION

 

Bankers :

  • Bank of Baroda, Worli Branch, Mumbai-400018, Maharashtra, India.
  • Dena Bank
  • State Bank of India
  • HDFC Bank Limited, HDFC Bank House Senapati Bapat Marg, Lower Parel West, Mumbai-400013, Maharashtra, India.
  • Industrial Development Bank of India, IDBI Tower, Cuff Parade, Mumbai-4000005, Maharashtra, India
  • Citi Bank

 

 

Financial Institute :

The Honkong and Shanghai Banking Corporation Limited, Plot No. 139-140 B, Shiv Building, Sahar Road Junction, Opposite W.E. Highway, Vileparle (East), Mumbai-400057, Maharashtra, India.

 

 

Facilities :

Secured Loan

As on 31.03.2010 (Rs. In millions)

As on 31.03.2009 (Rs. In millions)

From Consortium of Bankers

620.837

448.570

Add : Interest

secured by a demand promissory note, hypothecation of raw materials, work in process, finished goods, book debts and movables machinery, equitable mortgage of fixed assets located at Navi Mumbai unit and guaranteed by all the directors of the company)

0.503

0.000

Term Loan

 

 

From Banks (Wind power Project) (Amount due within 12 months Rs.25.832 millions) (Previous year Rs.25.832 millions)

75.179

251.283

Add: Interest Accrued and due

(secured by a demand promissory note, hypothecation of raw materials, work in process, finished goods, book debts and movables machinery, equitable mortgage of fixed assets located at Navi Mumbai unit and guaranteed by all the directors of the company)

0.000

1.783

Total

696.519

701.637

 

As on 31.03.2010 (Rs. In millions)

As on 31.03.2009 (Rs. In millions)

Unsecured Loan

 

 

From Director, shareholders and Relatives

(Amount due within 12 months Rs.56.723 Millions (Previous Year Rs.17.089 Millions))

306.640

156.643

Interest accrued and due

0.000

13.523

Total

306.640

170.166

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Natvarlal Vepari and Company

Chartered Accountant

Address :

Oricon House, 4th Floor, 12 K. Dubash Marg, Mumbai-400023, Maharashtra, India.

Tel. No.:

91-22-66315851

Fax No.:

91-22-66315852

E-Mail :

nve@nvc.in   

PAN No.:

AAAFN2322E

 

 

Subsidiaries :

Hindustan Platinum International Limited (Formerly Epsilon Limited)

 

 

Associates (As on 31.03.2009):

  • Choksi Investments Private Limited
  • Choksi Contacts Private Limited
  • Panache Engineers Private Limited
  • GTC Powers Private Limited

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2010

 

Authorised Capital :

No. of Shares

Type

Value

Amount

50000000

Equity Share

Rs.10/- Each

Rs.500.000 Millions

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

4274000

Equity Share

Rs.10/- Each

Rs.42.740 Millions

 

Note:

  • 3800000 equity shares of Rs. 10/- each are allotted as fully paid up by way of bonus shares by capitalization of the general reserves.
  • 1068500 equity shares extinguished under Buy Back Scheme (Previous year : 617300 equity shares)  

 

 

 

 

 

 

 

 

 

 

 

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

42.740

47.252

53.425

2] Share Application Money

0.000

0.000

0.000

3] Reserves & Surplus

794.903

746.480

783.973

4] (Accumulated Losses)

0.000

0.000

0.000

NETWORTH

837.643

793.732

837.398

LOAN FUNDS

 

 

 

1] Secured Loans

696.519

701.637

669.931

2] Unsecured Loans

306.640

170.166

121.915

TOTAL BORROWING

1003.159

871.803

791.846

DEFERRED TAX LIABILITIES

193.029

217.280

197.495

 

 

 

 

TOTAL

2033.831

1882.815

1826.739

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

924.038

974.228

997.648

Capital work-in-progress

4.657

3.504

3.137

 

 

 

 

INVESTMENT

42.664

42.664

17.394

DEFERREX TAX ASSETS

0.000

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories

1108.132
704.224

909.654

 

Sundry Debtors

515.499
283.791

287.504

 

Cash & Bank Balances

37.002
0.992

27.076

 

Other Current Assets

0.000
0.000

0.000

 

Loans & Advances

177.856
117.616

55.959

Total Current Assets

1838.489
1106.623

1280.193

Less : CURRENT LIABILITIES & PROVISIONS

 

 

 

 

Sundry Creditors

664.416
184.936

359.821

 

Current Liabilities

94.267
49.607

101.769

 

Provisions

17.334
9.661

10.043

Total Current Liabilities

776.017
244.204
471.633

Net Current Assets

1062.472
862.419

808.560

 

 

 

 

MISCELLANEOUS EXPENSES

0.000

0.000

0.000

 

 

 

 

TOTAL

2033.831

1882.815

1826.739

 

 

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2010

31.03.2009

31.03.2008

 

SALES

 

 

 

 

 

Income

4785.869

3968.462

3120.373

 

 

Job Work Charges

0.000

0.000

242.562

 

 

Other Income

7.787

23.150

150.507

 

 

TOTAL                                     (A)

4793.656

3991.612

3513.442

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Raw material consumed

2737.826

 

 

Manufacturing and administrative expenses

 

3734.025

315.312

 

 

TOTAL                                     (B)

4490.080

3734.025

3053.138

 

 

 

 

 

Less

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)   (C)

303.576

257.587

460.304

 

 

 

 

 

Less

FINANCIAL EXPENSES                         (D)

0.000

0.000

99.003

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                                       (E)

303.576

257.587

361.301

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

0.000

0.000

62.473

 

 

 

 

 

 

PROFIT BEFORE TAX (E-F)                               (G)

303.576

257.587

298.828

 

 

 

 

 

Less

TAX                                                                  (I)

62.296

94.185

100.978

 

 

 

 

 

 

PROFIT AFTER TAX (G-I)                                  (J)

214.280

163.402

197.850

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

FOB Value of Exports        

 

1028.951

802.056

 

 

Job Work Receipts

 

12.711

7.967

 

 

Metal Hedging

 

27.376

0.000

 

TOTAL EARNINGS

1696.743

1069.038

810.023

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Raw Materials

 

1771.845

647.664

 

 

Machinery

 

5.264

9.300

 

 

Stores & Spares

 

5.166

6.426

 

TOTAL IMPORTS

 

1782.275

663.390

 

 

 

 

 

 

Earnings Per Share (Rs.)

46.84

34.58

37.03

 

 

 

 

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2010

31.03.2009

31.03.2008

PAT / Total Income

(%)

4.47
4.09

5.63

 

 

 
 

 

Net Profit Margin

(PBT/Sales)

(%)

6.34
6.49

9.58

 

 

 
 

 

Return on Total Assets

(PBT/Total Assets}

(%)

10.99
12.38

13.12

 

 

 
 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.36
0.32

0.36

 

 

 
 

 

Debt Equity Ratio

(Total Liability/Networth)

 

2.12
1.41

1.51

 

 

 
 

 

Current Ratio

(Current Asset/Current Liability)

 

2.37
4.53

2.71

 

 

LOCAL AGENCY FURTHER INFORMATION

 

OPERATIONAL PERFORMANCE:

Sales and Job-work charges of the Company have increased to Rs.4785.869 Millions from Rs.3979.930 Millions. The Operating profit before tax for the current year shows a increase from Rs.257.587 Millions to Rs.303.576 Millions, an increase of Rs.45.989 Millions over the previous year.

 

FORM 8

 

This form is for

Creation of charge

Corporate identity number of the company

U74999MH1961PTC012143

Name of the company

HINDUSTAN PLATINUM PRIVATE LIMITED

Address of the registered office or of the principal place of  business in India of the company

C 122, TTC Industrial Area, Pawane, Navi Mumbai – 400703, Maharashtra, India

Email Id : info@hp.co.in

Type of charge

Book Debts

Movable Property (not being pledge)

Immovable Property 

Particular of charge holder

The Honkong and Shanghai Banking Corporation Limited, Plot No. 139-140 B, Shiv Building, Sahar Road Junction, Opposite W.E. Highway, Vileparle (East), Mumbai-400057, Maharashtra, India.

Email : ctlaindia@hsbc.co.in

Nature of description of the instrument creating or modifying the charge

Deed of Mortgage cum charge dated December 07, 2009 duly registered with the Sub-Registrar's Office, Thane, and executed between Hindustan Platinum Private Limited ("Company) and The Hongkong and Shanghai Banking Corporation Limited (HSBC), in its capacity as a Security Trustee, on behalf of and for the benefit of the Lenders.

Date of instrument Creating the charge

07.12.2009

Amount secured by the charge

Rs.6000.000 Millions

Brief particulars of the principal terms an conditions and extent and operation of the charge

Rate of Interest

As per agreed terms and conditions set out in the sanction letters issued to the Company by the Lenders or Loan Agreement executed between the Lenders and the Company and as modified from time to time

 

Terms of Repayment

As per agreed terms and conditions set out in the sanction letters issued to the Company by the Lenders or Loan Agreement executed between the Lenders and the Company and as modified from time to time

 

Margin

As per agreed terms and conditions set out in the sanction letters issued to the Company by the Lenders or Loan Agreement executed between the Lenders and the Company and as modified from time to time

 

Extent and Operation of the charge

(i)1st Pari-passu charge in favour of the Security Trustee by way of mortgage on the entire fixed assets/leasehold immovable properties for the benefit of W.C. and Term Lenders and (ii) 1st Pari-passu charge in favour of Security Trustee for the benefit of W.C. Lenders and 2nd Pari-passu basis for the benefit of Term Lenders on entire current assets to secure the moneys advanced or to be advanced by the Lenders from time to time up to an aggregate amount of INR 6000.000 millions 

Short particulars of the property charged

I)                     Leasehold properties bearing Plot Nos. C-122 and C-154 admeasuring 11982 sq. mtrs and 2400 sq mtrs. respectively located in District Thane, Maharashtra, along with benefits attached to those properties

II)                   Entire movable fixed assets of the Company including tangible movable Plant and Machinery and including the Wind Mills situated at Jaisalmer (Rajasthan), Andiyur (Coimbatore) and Sangli (Maharashtra)

III)                  Entire current assets of the Company such as raw-materials, semi-finished and finished goods, stores and spares, bills receivables, book debts and other receivables including the insurance policies thereof

 

 

FIXED ASSETS:

 

  • Leasehold Land
  • Buildings
  • Plant and Machinery
  • Wind Turbine Converter
  • Computer
  • Dies
  • Furniture and Fixtures
  • Vehicles

 

AS PER WEBSITE DETAILS:

 

PROFILE:

 

Subject, established in 1961, is a manufacturer of precious metals products having industrial applications across a broad spectrum of industries. Armed with technical partnerships with world leaders in the field, such as Engelhard-CLAL, Corning Incorporated of USA, dmc2 (formerly, Degussa-Huls), Germany and Chugai Electric Industrial Company, Japan, commitment to quality and customer-driven research enables us to constantly meet the customers' requirements and to constantly strive to exceed it.

 

In accepting responsibility as a manufacturer whose components are critical to the manufacturing processes of other industries, Hindustan Platinum ensures stringent quality control at all levels of manufacturing starting right with purity of raw material, for which we have state of the art in-house refining facilities.

 

A quest for perfection and precision has resulted in technologies that are continuously evolving. With a customer base in USA, Europe, UK and Asia, the world is its market. Moreover, diminished entry and exit barriers due to our having custom-bonded manufacturing premises and a custom bonded warehouse ensures smooth movement of goods and timely delivery. It approach, therefore, is truly global.

 

 

MAKING HISTORY

 

1952       Founded

1961       Equity collaboration with Heraeus

1976       Equity collaboration with Heraeus ends. Becomes family held

1984       Collaboration with Chugai of Japan for Electrical Contacts

1985       Collaboration with Engelhard Corporation for Catchment Gauzes

1994       Collaboration with Chugai renewed

1994       Collaboration with Degussa for Knitted Gauzes.

1996       Collaboration with Engelhard - CLAL for Sputter Targets

1997       Collaboration with Corning Inc. for Stirrers and other Platinum Components

1998       Collaboration Engelhard-CLAL for Bushings and Feeder Systems

1999       Commissioning of our plant in New Bombay

 

 

 


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

Indian Rupees

US Dollar

1

Rs.47.84

UK Pound

1

Rs.75.40

Euro

1

Rs.65.68

 


 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

7

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

6

--PROFITABILIRY

1~10

6

--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

 

51

 

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

 

 

 

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.