x
MIRA
INFORM REPORT
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Report Date : |
16.02.2012 |
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Tel. No. : |
91 22 42234300 |
IDENTIFICATION DETAILS
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Name : |
MANIKA MOULDS PRIVATE LIMITED |
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Registered Office : |
AAR-PEE Centre, 601/605, 6th Floor, GUFIC Compound, MIDC,
Andheri (East), Mumbai – 400093, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
25.04.1996 |
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Com. Reg. No.: |
11-099111 |
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Capital
Investment / Paid-up Capital : |
Rs.90.000 Millions |
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CIN No.: [Company
Identification No.] |
U74999MH1996PTC099111 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMM20410F |
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PAN No.: [Permanent
Account No.] |
AABCM4545Q |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business : |
Manufacture of PP Heat Sealed |
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No. of Employees
: |
200
[Approximately] |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (45) |
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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 890000 |
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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 dealing 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 – September 30, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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A1 |
A1 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION DECLINED BY
Management non Cooperative
Contact
No. : 91-22-42234300
Date
: 15.02.2012
LOCATIONS
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Registered Office : |
AAR-PEE Centre, 601/605, 6th Floor, GUFIC Compound, MIDC,
Andheri (East), Mumbai – 400093, |
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Tel. No.: |
91-22-28200992/42234300 |
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Fax No.: |
91-22-28200996 |
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E-Mail : |
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Website : |
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Area : |
3500sq.fts (Approximately) |
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Location : |
Owned |
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Head Office : |
6, Archarya Industrial Estate, Tejpal Compound, Behind Lathia Rubber,
58-D, |
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Tel. No.: |
91-22-28560358/ 3094179 |
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Fax No.: |
91-22-28562238 |
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Factory 1 [Dehradun Uttrakhand]: |
Khasara No. 301, 302 and 303 Village – Central Hope Town, Industrial
Area, Selaqui – 248197, |
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Location : |
Owned |
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Factory 2 [Masat
Plant]: |
Survey No.61/2/7, Near Nandu Pharma, Village Masat, Silvassa – |
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Tel. No.: |
91-260-3092175/ 5547575 |
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Fax No.: |
91-260-2630600 |
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Branch Office : |
Survey No.434/1A, 446, 435/1A, 447/1B7, Near SIPCOT Phase – II,
Samanapalli Road, Alur Village, Hosur Taluk, Krishnagiri District - 635109,
Tamilnadu, India |
DIRECTORS
AS ON 30.09.2011
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Name : |
Mr. Nikunj Mohanlal Kapadia |
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Designation : |
Director |
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Address : |
Flat 601, Gada Residency, Plot No.20, Saurabh Vallabh Society, |
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Date of Birth/Age : |
05.05.1947 |
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Qualification : |
BSC |
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Date of Appointment : |
25.04.1996 |
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DIN : |
00877120 |
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Name : |
Mrs. Malti Nikunj Kapadia |
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Designation : |
Director |
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Address : |
Flat 601, Gada Residency, Plot No.20, Saurabh Vallabh Society, |
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Date of Birth/Age : |
27.04.1950 |
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Date of Appointment : |
25.04.1996 |
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DIN : |
00905146 |
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Name : |
Mr. Munjal Nikunj Kapadia |
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Designation : |
Director |
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Address : |
Flat 601, Gada Residency, Plot No.20, Saurabh Vallabh Society, |
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Date of Birth/Age : |
15.08.1977 |
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Qualification : |
Graduate in Plastic Technologies |
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Date of Appointment : |
25.04.1996 |
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DIN : |
00876921 |
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Name : |
Mr. Mihir Nikunj Kapadia |
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Designation : |
Director |
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Address : |
Flat 703, Gada Residency, Plot No.20, Saurabh Vallabh Society, |
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Date of Birth/Age : |
09.04.1979 |
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Qualification : |
BE in Production Engineering, Pain Plastically |
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Date of Appointment : |
28.06.1997 |
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DIN : |
00877316 |
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Name : |
Mr. Pratik Nikunj Kapadia |
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Designation : |
Director |
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Address : |
Flat 601, Gada Residency, Plot No.20, Saurabh Vallabh Society, |
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Date of Birth/Age : |
02.11.1983 |
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Qualification : |
Post Graduate in Plastic Technology |
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Date of Appointment : |
05.11.2001 |
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DIN : |
00877370 |
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
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Names of Shareholders |
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No. of Shares |
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Nikunj Mohanlal Kapadia |
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4000000 |
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Malti Nikunj Kapadia |
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4000000 |
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Munjal Nikunj Kapadia |
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4000000 |
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Mihir Nikunj Kapadia |
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4000000 |
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Pratik Nikunj Kapadia |
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4000000 |
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Total |
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20000000 |
AS ON 30.09.2011
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Equity Share
Break Up Category |
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Percentage |
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Directors or relatives of directors |
|
100.00 |
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Total
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|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacture of PP Heat Sealed |
PRODUCTION STATUS [AS ON 31.03.2010]
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Particulars |
Unit |
Installed
Capacity |
Actual
Production |
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Injection Moulding |
Pcs. |
11280 mts per
annum |
54640517 |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
200
[Approximately] |
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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 : |
D G Thakarar and Associates Chartered Accountants |
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Address : |
B/14, Shubhlaxmi, 2nd Floor, |
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Tel. No.: |
91-22-26102890 (3 Lines) |
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Fax No.: |
91-22-26102890 (Extn. 23) |
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Email : |
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PAN : |
AAKPS6941E |
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Sister Concern: |
Manika Technologies Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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9,000,000 |
Equity Shares |
Rs.10/- each |
Rs.90.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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9,000,000 |
Equity Shares |
Rs.10/- each |
Rs.90.000 Millions |
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AS ON 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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20,000,000 |
Equity Shares |
Rs.10/- each |
Rs.200.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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20,000,000 |
Equity Shares |
Rs.10/- each |
Rs.200.000 Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
90.000 |
90.000 |
40.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
132.698 |
34.041 |
2.903 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
222.698 |
124.041 |
42.903 |
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LOAN FUNDS |
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1] Secured Loans |
223.400 |
143.685 |
118.406 |
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2] Unsecured Loans |
1.637 |
13.507 |
0.023 |
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TOTAL BORROWING |
225.037 |
157.192 |
118.429 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.713 |
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TOTAL |
447.735 |
281.233 |
162.045 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
211.785 |
133.364 |
86.123 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
1.694 |
1.695 |
1.695 |
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DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
112.048
|
60.705
|
42.444 |
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Sundry Debtors |
183.997
|
86.545
|
56.909 |
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Cash & Bank Balances |
14.319
|
7.835
|
2.551 |
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Other Current Assets |
0.000
|
0.000
|
0.000 |
|
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Loans & Advances |
108.610
|
63.308
|
40.813 |
|
Total
Current Assets |
418.974
|
218.393
|
142.717 |
|
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Less : CURRENT LIABILITIES & PROVISIONS |
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|
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|
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Sundry Creditors |
121.055 |
58.613 |
60.650 |
|
|
Other Current Liabilities |
34.793
|
2.110
|
3.051 |
|
|
Provisions |
28.870
|
11.496
|
5.501 |
|
Total
Current Liabilities |
184.718
|
72.219
|
68.490 |
|
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Net Current Assets |
234.256
|
146.174
|
74.227 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
447.735 |
281.233 |
162.045 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Income |
NA |
|
NA |
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Other Income |
NA |
|
NA |
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TOTAL |
NA |
712.258 |
NA |
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|
|
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|
Less |
EXPENSES |
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|
|
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TOTAL |
NA |
670.805 |
NA |
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|
PROFIT BEFORE
TAX |
121.133 |
41.453 |
5.616 |
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Less |
TAX |
19.317 |
10.315 |
2.032 |
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|
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PROFIT AFTER TAX
|
101.816 |
31.138 |
3.584 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
24.441 |
0.803 |
0.319NA |
|
|
|
|
|
|
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Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
50.000 |
7.500 |
3.100 |
|
|
|
Interim Dividend Paid |
2.700 |
0.000 |
0.000 |
|
|
|
Tax on Dividend |
0.459 |
0.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
73.098 |
24.441 |
0.803 |
|
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EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
78.757 |
56.276 |
43.771 |
|
|
TOTAL EARNINGS |
78.757 |
56.276 |
43.771 |
|
|
|
|
|
|
|
|
|
|
IMPORTS – Purchase of
Materials |
63.052 |
30.976 |
31.338 |
|
|
|
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|
|
|
|
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|
Earnings/[Loss]
Per Share (Rs.) |
11.31 |
- |
- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total
Income |
(%) |
NA
|
4.37
|
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
19.20
|
11.78
|
2.45 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.54
|
0.33
|
0.13 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.84
|
1.84
|
4.36 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.27
|
3.05
|
2.08 |
LOCAL AGENCY FURTHER INFORMATION
Sundry Creditors
Details :
(Rs.
in Millions)
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Sundry Creditors |
|
|
|
|
-For Goods |
63.005 |
28.296 |
42.997 |
|
-For Expenses |
47.668 |
28.612 |
16.728 |
|
-For Fixed Assets |
10.382 |
1.705 |
0.925 |
|
Total |
121.055 |
58.613 |
60.650 |
Nature of
Operations : subject is a company formed and registered under Companies Act 1956. The
principal activity of company is Manufacturing of various kinds/types of
Plastic Moulded Products at Silvassa and Uttarakhand.
Note: The Registered
office of the company has been shifted from 22-Amilandhara Society, Andheri
(West), Mumbai,
Contingent
Liabilities :
(Rs.
in Millions)
|
Particulars |
31.03.2010 |
31.03.2009 |
|
Bank Guarantee executed |
2.658 |
2.102 |
FORM 8:
|
Corporate
identity number of the company |
U74999MH1996PTC099111 |
|
Name of the
company |
MANIKA MOULDS
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
AAR-PEE Centre,
601-605, 6th Floor, Gufic Compound, MIDC, Andheri (East), Mumbai – 400093, |
|
This form is for |
Modification of
charge |
|
Charge identification (ID) number of the charge to be
modified |
10193822 |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
State Bank of Email : narayan.iyer@sbi.co.in |
|
Nature of
instrument creating charge |
Memorandum of Entry
for extension of mortgage/charge. |
|
Date of
instrument Creating the charge |
09.05.2011 |
|
Amount secured by
the charge |
Rs.460.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest -
As per the Sanctioned letter Terms of
Repayment - As per the Sanctioned letter. Margin - As per
the Sanctioned letter. Extent and
Operation of the charge - On Exclusive
First Charge basis in favour of SBI Term Loan for Rs. 276.000 millions and On
Second Pari passu charge basis in favour of SBI, BOB and DBS for Working
Capital for Rs. 460.000 millions. Others - All
other terms and conditions as per the State Bank of India, Bank of Baroda and
DBS Bank Limited Sanctioned letter and loan agreement. |
|
Short particulars
of the property charged |
On Exclusive
First Charge basis in favour of SBI Term Loan for Rs. 276.000 millions and On
Second Pari passu charge basis in favour of SBI, BOB and DBS for Working
Capital for Rs. 460.000 millions of Description of the immovable Property |
|
Date of last modification prior to the present
modification |
23.03.2011 |
|
Particulars of
the present modification |
The Borrowers by
way of equitable mortgage by deposit of title deeds of Immovable properties
at annexure attached has been On Exclusive First Charge basis in favour of
SBI Term Loan for Rs. 276.000 millions and On Second Pari passu charge basis
in favour of SBI, BOB and DBS for Working Capital for Rs. 460.000 millions. |
|
Corporate
identity number of the company |
U74999MH1996PTC099111 |
|
Name of the
company |
MANIKA MOULDS
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
AAR-PEE Centre,
601-605, 6th Floor, Gufic Compound, MIDC, Andheri (East), Mumbai – 400093, |
|
This form is for |
Modification of
charge |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
STATE BANK OF |
|
Nature of
instrument creating charge |
Memorandum of
deposit for creation of charge for term loan/overall limit. |
|
Date of instrument
Creating the charge |
02/03/2010 |
|
Amount secured by
the charge |
Rs.90.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Term Loan - 1%
above SBAR i.e. presently 12.75% p.a. Terms of Repayment
Term Loan of
Rs.90.000 Millions (Rs. in Millions) Year No. of Instal. Amt
Total Dec 10 to Mar
11 4 0.500 2.000 Apr 11 to Mar
12 12 2.000
24.000 Apr 12 to Mar
13 12 2.000
240.00 Apr 13 to Mar
14 12 2.000 24.000 Apr 14 to Nov
14 08 2.000
16.000 Total 48 90.000 Margin Term Loan -
30.76% Extent and
Operation of the charge Security to cover
principal amount together with interest, costs, charges and expenses etc. Others Term Loan (New) -
Rs.90.000 Millions. All other terms
and conditions as per the sanctioned letter and loan agreement. |
|
Short particulars
of the property charged |
In Alur Village
of House Taluka, and attached to Shoolagiri Sub Registration District and
Krishnagiri Registration District of Krishnagiri District, Tamil Nadu, and
also attached to the Village Panchayat Limits of Alur and Union Council of
Shoolagiri. Pertaining to 1. Survey No. 434/1A Dry Extent Hec. 0.39.5, Asst.
Rs. 1.09 np. (In Ac. 0.98 Cents). 2. Survey No. 446 Dry Extent Hec. 1.27.5, Asst.
Rs. 2.74 np. (In Ac. 3.15 Centrs), out of this an extent of Ac. 0.40 Cents
(Now sub divided as Survey No. 446/2 extent Hec. 0.16.0 (or) Extent Ac. 0.40
cents). 3. Survey No. 435/1 Dry Extent Hec. 1.05.0, Asst. Rs. 2.25 np. (In
Ac. 3.70 Cents), out of this an extent of Ac. 0.57 Cents (Now sub divided as
Survey No. 435/1A Extent Hec. 0.16.0 (or) Extent Ac. 0.40 cents). 4. Survey
No. 447/1B7 Dry Extent Hec. 0.61.0, Asst. Rs. 1.69 np. (In Ac. 1.51 Cents),
out of this an extent of Ac. 0.40 Cents (Now sub divided as Survey No.
447/1B7B extent Hec. 0.16.0 (or) Extent Ac. 0.40 cents). And thus, item No. 1
to 4 making a total extent of Ac. 2.35 Centrs, together with Industrial
Superstructures constructed thereon and all situated within the following
boundaries - On the Eastern Side - |
|
Particulars of
the present modification |
The Borrowers by
way of equitable mortgage by deposit of title deeds of Immovable properties
at Point No. 15 has provided further security to secure the Loan Facility of
Rs. 90.000 millions. |
FIXED ASSETS:
·
Factory Gala
·
Plant and Machinery
·
Moulds
·
Factory Equipment
·
Electrical Installations
·
Computer
·
Furniture and fixture
·
Office Equipment
·
Air Conditioner
·
Cycle
WEBSITE DETAILS:
HISTORY:
Incorporated in April
1996, subject was founded by its Chairman Mr. Nikunj Kapadia, who was
successfully running a proprietary firm. Today, MMPL has a turnover of over Rs.200
million. Manika Moulds initiated the production in association with Nilkamal
Plastics Limited for moulding their furniture products and diversified into
battery container business and have successfully developed the entire range of
automotive battery containers.
PROFILE:
Subject an
ISO 9001: 2000 Company specializes in the manufacture of PP heat sealed battery
containers.
They are focused on soaring higher and achieving greater
standards quality and customer satisfaction.
Having a bird’s eye view of the industry, keeps them attuned to the changing
trends. The agility, with which they incorporate changes, makes us the best in
the industry.
Subject
specializes in Injection Moulding production, with sophisticated,
state-of-the-art machinery and all required ancillaries. To achieve consistency
in quality and production, various techniques and fundamental theories such as
Six Sigma are carried out. They are soaring towards this by maintaining and
improving on quality control; investing on people and infrastructure; and
focusing on their core competency.
TEAM:
A very young team of professionals supported by experienced,
well trained personnel and guided by contemporary, growth oriented directors.
Mr. Nikunj Kapadia
The Financial matters of the company are meticulously managed by the visionary
Chairman Mr. Nikunj Kapadia, a BSC graduate with over 36 years’ experience.
Under his auspices, the company has pounced on new-age opportunities.
Mr. Munjal Kapadia
The CEO, Mr. Munjal Kapadia, handles National as well as International
Marketing and business development. He possesses 8 years of experience coupled
with graduation in Plastics Technology.
Mr. Mihir Kapadia
Manufacturing and Systems for both the plants are managed by Mr. Mihir Kapadia.
Being a Production Engineering graduate with post graduation in Plastic
Engineering, he also looks after production planning and general
administration.
EXPORTS:
With technology shrinking the world boundaries and greater
opportunities in foreign trade, Subject has
soared into newer skies to devour the export market. It exports to various
countries like
FUTURE
EXPANSIONS:
Subject has plans of building a new factory and increasing the installed capacity in the existing ones up to 7000 tons per annum by 2007.
Subject is open for any joint venture to upgrade technically
and to expand its production capacity and market.
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.49.25 |
|
|
1 |
Rs.77.45 |
|
Euro |
1 |
Rs.64.89 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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.