|
Report Date : |
24.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
MESO PRIVATE LIMITED |
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Formerly Known
As : |
MERCANTILE ESSENTIAL OIL COMPANY ( |
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Registered
Office : |
101, Centre Point, 1st Floor, Jijibhai Lane, Lalbaug,
Opposite Parel Post Office, Parel, Mumbai – 400012, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
11.09.1992 |
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Com. Reg. No.: |
11-68508 |
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Capital
Investment / Paid-up Capital : |
Rs.22.500 Millions |
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CIN No.: [Company Identification
No.] |
U15140MH1992PTC068508 |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM09382C |
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PAN No.: [Permanent Account No.] |
AAACM7427Q |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturing and Exporter of Perfumes, Cosmetics and Toiletries. |
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No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
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 2100000 |
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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 an established company having satisfactory track. 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Bank Facilities = BBB- |
|
Rating Explanation |
This rating are considered to have moderate
degree of safety regarding timely servicing of financial obligation. Such
carry moderate credit risk. |
|
Date |
01.12.2011 |
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
31-03-2012.
INFORMATION DECLINED BY
|
Name : |
Mr. Patil |
|
Designation : |
Office Executive |
|
Contact No.: |
91-22-66675151 |
|
Date : |
23.08.2012 |
LOCATIONS
|
Registered Office : |
101, Centre Point, 1st Floor, Jijibhai Lane, Lalbaug,
Opposite Parel Post Office, Parel, Mumbai – 400012, Maharashtra, India |
|
Tel. No.: |
91-22-24166294/ 24166295/ 66675151 |
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Fax No.: |
91-22-24148226 |
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E-Mail : |
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Website : |
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Factory : |
Unit No. 193-194, 195, 204-210 A, 354, Kandla Special
Economic Zone, Gandhidham, Kutch – 370230,
Gujarat, India |
|
Tel. No.: |
91-2836-252207/ 202 |
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Fax No.: |
91-2836-252307 |
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Area : |
60000 Sq. fts. |
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Location : |
Owned |
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R and D : |
Plot No. 1, 14 to 16, Nehru Nagar, Old Mahibalipuram,
Kottivakkam, Chennai – 600034, |
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Area : |
50000 Sq. fts. |
|
Location : |
Owned |
DIRECTORS
(AS ON 30.09.2011)
|
Name : |
Mr. Kishor Sunderlal Sheth |
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Designation : |
Chairman cum Managing Director |
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Address : |
3, Beacom, 140, |
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Date of Birth/Age : |
12.11.1938 |
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Date of Appointment : |
11.09.1992 |
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DIN No.: |
00257901 |
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Name : |
Mr. Ketan Kishor Sheth |
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Designation : |
Whole Time Director |
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Address : |
3, Beacom, 140, |
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Date of Birth/Age : |
09.06.1967 |
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Date of Appointment : |
01.10.1997 |
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Voter ID No.: |
MT/04/019/036946 |
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DIN No.: |
00298932 |
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|
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Name : |
Mr. Hemant Ishwarlal Vashi |
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Designation : |
Director |
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Address : |
6-D, |
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Date of Birth/Age : |
07.07.1952 |
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Date of Appointment : |
03.12.1996 |
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DIN No.: |
00257844 |
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Name : |
Mr. Shashikant Sunderlal Sheth |
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Designation : |
Director |
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Address : |
Oberoi Sky Gardens, A-wing, 301B, 3rd Floor, Plot No. 119,
Lokhandwala Complex, Mumbai – 400053, Maharashtra, India |
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Date of Birth/Age : |
11.09.1946 |
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Date of Appointment : |
15.05.2006 |
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DIN No.: |
00296865 |
KEY EXECUTIVES
|
Name : |
Mr. Patil |
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Designation : |
Office Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.09.2011)
|
Names of Shareholders |
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No. of Shares |
|
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Kishor Sunderlal Sheth |
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20254 |
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Madhukar Sunderlal Sheth Jointly with Ketan Kishor Sheth |
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6750 |
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Shashikant Sunderlal Sheth |
|
20250 |
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Mahendra Sunderlal Sheth |
|
20250 |
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Chandrika Kishor Sheth |
|
18000 |
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Ketan Kishor Sheth Jointly with Ketan Kishor Sheth |
|
40500 |
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Sejal Ketan Sheth |
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18000 |
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Ila Shashikant Sheth |
|
20250 |
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Jayesh Shashikant Sheth |
|
40500 |
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Nalini Mahendra Sheth |
|
20250 |
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|
|
|
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Total |
|
225004 |
(AS ON 30.09.2011)
Equity Shares Break – up
|
Category |
|
Percentage |
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Directors or relatives of directors |
|
100.00 |
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Total
|
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing and Exporter of Perfumes, Cosmetics and Toiletries. |
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Products : |
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PRODUCTION STATUS (AS ON 31.03.2011)
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Particulars |
Unit |
Actual Production |
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i) Perfumes & Toilet Water |
(in Tons) |
153 |
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ii) Beauty & Makeup Preparation |
(in Tons) |
486 |
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iii) Hair Preparation |
(in Tons) |
235 |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management. |
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Bankers : |
Ř
State Bank of Overseas Branch, 2nd Floor, Arcade, Cuffe
Parade, Mumbai – 400005, |
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Facilities : |
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Banking Relations
: |
-- |
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Auditors : |
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Name : |
Kamdar Desai and Patel Chartered Accountants |
|
Address : |
Vasaikar House, |
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PAN No.: |
AAFK6984H |
CAPITAL STRUCTURE
(AS ON 30.09.2011)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
300000 |
Equity Shares |
Rs.100/- each |
Rs.30.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
225004 |
Equity Shares |
Rs.100/- each |
Rs.22.500
Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
22.500 |
22.500 |
22.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
497.049 |
495.676 |
456.896 |
|
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
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NETWORTH |
519.549 |
518.176 |
479.396 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
128.259 |
95.495 |
133.647 |
|
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2] Unsecured Loans |
1.043 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
129.302 |
95.495 |
133.647 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
648.851 |
613.671 |
613.043 |
|
|
|
|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
38.900 |
26.197 |
25.283 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
87.852 |
80.798 |
90.160 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
121.792
|
60.360 |
95.479 |
|
|
Sundry Debtors |
175.238
|
166.031 |
158.758 |
|
|
Cash & Bank Balances |
17.281
|
27.732 |
6.745 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
174.936
|
175.812 |
268.798 |
|
Total
Current Assets |
489.247
|
429.935 |
529.780 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
(45.279)
|
(83.626) |
20.848 |
|
|
Other Current Liabilities |
9.797
|
3.371 |
5.756 |
|
|
Provisions |
2.630
|
3.514 |
5.576 |
|
Total
Current Liabilities |
(32.852)
|
(76.741) |
32.180 |
|
|
Net Current Assets |
522.099
|
506.676 |
497.600 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
648.851 |
613.671 |
613.043 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Turnover and Other Income |
394.205 |
408.364 |
379.442 |
|
|
|
TOTAL (A) |
394.205 |
408.364 |
379.442 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
349.650 |
348.681 |
324.845 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
44.555 |
59.683 |
54.588 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
11.858 |
11.966 |
11.820 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
32.697 |
47.717 |
42.768 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
9.017 |
8.072 |
7.626 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
23.680 |
39.645 |
35.142 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.217 |
0.864 |
1.289 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
23.463 |
38.781 |
33.853 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
461.396 |
444.796 |
406.707 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
484.859 |
483.577 |
440.560 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
F.O.B. Value of Exports |
368.195 |
403.685 |
318.064 |
|
|
|
Freight and Insurance |
9.285 |
7.709 |
7.888 |
|
|
TOTAL EARNINGS |
377.480 |
411.394 |
325.952 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
97.860 |
55.070 |
58.421 |
|
|
|
Packing Materials |
16.873 |
7.331 |
3.225 |
|
|
TOTAL IMPORTS |
114.733 |
62.401 |
61.646 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
104.28 |
172.36 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
5.95
|
9.71 |
9.26 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.48
|
8.69 |
6.33 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05
|
0.08 |
0.07 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
(0.31)
|
(0.33) |
0.35 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
(14.89)
|
(5.60) |
16.46 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
(Rs. In Millions) |
||
|
|
|
|
|
|
Sundry Creditors |
(45.279)
|
(83.626) |
20.848 |
|
|
|
|
|
|
Total |
(45.279)
|
(83.626) |
20.848 |
|
Check list by info
Agents |
Available in Report (Yes/ No) |
|
|
|
|
Year of Establishment |
Yes |
|
Locality of the Firm |
Yes |
|
Constitution of the Firm |
Yes |
|
Premises details |
Yes |
|
Type of Business |
Yes |
|
Line of Business |
Yes |
|
Promoter’s Background |
Yes |
|
No. of Employees |
No |
|
Name of Person Contacted |
Yes |
|
Designation of Contact person |
Yes |
|
Turnover of Firm for last three years |
Yes |
|
Profitability for last three years |
Yes |
|
Reasons for variation <> 20% |
----- |
|
Estimation for coming financial year |
No |
|
Capital in the business |
Yes |
|
Details of sister concerns |
No |
|
Major Suppliers |
No |
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Major Customers |
No |
|
Payments Terms |
No |
|
Export/ Imports Details (If applicable) |
No |
|
Market Information |
----- |
|
Litigations that the firm/ Promoters Involved in |
----- |
|
Banking details |
Yes |
|
Banking Facility Details |
Yes |
|
Conduct of the Banking Account |
----- |
|
Buyer visit details |
----- |
|
Financials, if provided |
Yes |
|
Incorporation details is applicable |
Yes |
|
Last Accounts filed at ROC |
Yes |
|
Major Shareholders, if available |
Yes |
|
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
PAN of Proprietor/Partner/Director, if
available |
No |
|
Voter ID No of Proprietor/Partner/Director,
if available |
Yes |
|
External Agency Rating, if available |
Yes |
OPERATIONS:
The Non Alcoholic
Perfumes segment comprising of Malalabiya, Saratiya, Majamu and Sandaliya under
Meso/Simmil Brands have remained more or less on same levels of previous year
and continued to be a top contributor (71%) in the total sales of the Company.
The company is making every effort to maintain its premier position in the
markets by offering various schemes, incentives and promotions to the
Distributors and consumers.
The Company has
devised a completely a new strategy for its owned brands namely Instyle,
Marhaba and Montego in the Alcoholic Perfume segments. Accordingly, instead of producing
creating/adding new variants under these brands, the company has identified
with its concentrated efforts, the running fragrances which are generally
preferred in the Middle East and Sub Sahara and
The directors are
delighted to announce that, FMCG segment comprising of beauty and personal care
products sales has grown over remarkably compare to Previous year. All the
products under this segment have done well in one or other market of the Middle
east/Africa Region. The company is planning to intensify its promotional
activities with the use of TV and Print Media and hope to have a big spurt in
the sales in the years to come.
Realizing the
potential in FMCG segment and having tested success in making a regional brand
it prompted the company to think global and act local. In order to cater to the
consumers at the bottom of pyramid. in markets other than ME and
The Company’s
licensing agreement for manufacturing and selling of Mahalabiya, Saratiya and
Majamu using MESO brand in
The Company has
developed market for its products in Far East Asia and
Operations of manufacturing unit at Kandla were satisfactory.
CREDIT RATING OF
THE COMPANY:
The Company
received Ratings for Letter of Credit and Export Packing Credit Facility both
as CRISIL A3 from CRISIL Limited which signifies that both these Instruments
have moderate degree of safety regarding timely payment of financial
obligations. Such instruments carry higher credit risk as compared to
instruments rated in the higher categories. The Company also got ratings from
Dun and Bradstreet (D and B), for which DUNS Number 91-530-9822 is granted to
your Company signifying that the Company is part of the global data base from
Credit Rating Agency Dun and Bradstreet (D and B), Leading provider of
international and Indian Credit Rating of D and B.
Merger with Vijeta
Foods Private Limited:
a. Pursuant to the
scheme of Amalgamation under section 391 to 394 of the Companies Act, 1956,
with effect from 1st April, 2010 (appointed date), Vijeta Foods Private Limited
have been merged with The Company. The scheme of Merger was approved by the
Honorable Mumbai High Court vide order dated 29th March 2011.
b. Vijeta Foods
Private Limited was incorporated under the Companies Act, 1956 and carried on
business of manufacturing and processing of Food Products.
c. In terms of
Scheme, all assets and liabilities of Vijeta Foods Private Limited have been
transferred and stand vested with your company with effect from appointed date
at their respective book values on that date. Thus, the profit or income
arising to Vijeta Foods Private Limited, or expenditure or losses incurred by
it from the appointed date are treated as the profit or income or expenditure
or loss as the case may be, of the company. The schemes have been given effect
to in these accounts. Reserve arising on the same is reflected as Capital
Reserve.
d. 4 Equity Shares of
Rs.100/- each of the company are issued to the shareholders of Vijeta Foods
Private Limited in the ratio of 1/- fully paid up Equity Share of Rs.100/- each
of the company for every 2,220 fully paid-up Equity Shares of Rs.10/- each held
in Vijeta Foods Private Limited
FORM 8:
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
80060765 |
|
Corporate identity
number of the company |
U15140MH1992PTC068508 |
|
Name of the
company |
MESO PRIVATE
LIMITED |
|
Address of the
registered office or of the principal place of business in |
101, Centre
Point, 1st Floor, Jijibhai Lane, Lalbaug, Parel, Mumbai – 400012, |
|
Type of charge |
Book debts Movable property (not being pledge) Floating charge |
|
Particular of
charge holder |
State Bank of Overseas Branch,
2nd Floor, Arcade, Cuffe
Parade, Mumbai – 400005, |
|
Nature of
description of the instrument creating or modifying the charge |
Letter regarding the
grant of Individual Limit within the Overall limit. |
|
Date of
instrument Creating the charge |
10/07/2010 |
|
Amount secured by
the charge |
Rs.155.000
Millions |
|
Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Rate of Interest Interest as per
RBI/Bank directive. Terms of
Repayment On Demand. Margin EPC : 15%, L/C AND BG :10% Extent and
Operation of the charge Hypothecation by way
of First charge of all goods, debts as specified in Item No. 15 as security
for the due and repayment and discharge of the revised facilities of
Rs.155.000 Millions, by the Company to the Bank on demand of all the monies
including the principal sums, interest, cost, charges, expenses and other
moneys payable by the Company to the Bank. |
|
Short particulars
of the property charged |
All present and
future goods, book debts and movable and other assets including documents of
title to goods and other asset. |
|
Particulars of
the present modification |
The charge shall
now stand reduced from Rs.170.000 Millions to Rs.155.000 Millions, in favour
of the Bank. |
FIXED ASSETS:
·
· Plant & Machinery
· Moulds
· Air-conditioner
· Office Equipments
· Laboratory Equipments
· Computer
· Scooter / Mopeds
· Motor Car
· Furniture and Fixtures
· Electric Fittings
· Residential Flats
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.55.19 |
|
|
1 |
Rs.87.65 |
|
Euro |
1 |
Rs.69.16 |
INFORMATION DETAILS
|
Information Gathered
by : |
JML |
|
|
|
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
0 |
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
46 |
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.