MIRA
INFORM REPORT
|
Report Date : |
20.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
UKAY METAL INDUSTRIES PRIVATE LIMITED |
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Registered
Office : |
F-139, MIDC Ambad, Nashik-422010, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of Incorporation
: |
14.06.1988 |
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Com. Reg. No.: |
047704 |
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Capital
Investment / Paid-up Capital : |
Rs.18.062 Millions |
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CIN No.: [Company Identification
No.] |
U99999MH1988PTC047704 |
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|
PAN No.: [Permanent Account No.] |
MUMU02546F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Fiber Glass Moulded Products, P U Foam Moulded
Products, Vaccum Forming Products. |
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|
No. of Employees
: |
200 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 206564 |
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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 records. Trade
relations are reported as fair. Business is active. Payments are reported to
be usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INFORMATION PARTED BY
|
Name : |
Mr. Rajendra |
|
Designation : |
Director |
|
Contact No.: |
91-9822011686 |
|
Date : |
17.03.2012 |
LOCATIONS
|
Registered Office/ Factory : |
F-139, MIDC Ambad, Nashik-422010, Maharashtra, India |
|
Tel. No.: |
91-253-6604668/6604677 |
|
Mobile No.: |
91-9822011686 (Mr. Rajendra) |
|
Tele-Fax No.: |
91-253-2382768 |
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E-Mail : |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Rajendra Tulsidas Katore |
|
Designation : |
Director |
|
Address : |
Flat No. 1 Paragpushpa Apartments, Near Mhasoba Mandir, Nashi Pune Road,
Nashik-422101, Maharashtra, India |
|
Date of Birth/Age : |
28.12.1968 |
|
Date of Appointment : |
15.06.2001 |
Directorship in
Other Companies :
|
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 |
U99999MH1988PTC047704 |
UKAY METAL
INDUSTRIES PRIVATE LIMITED |
Director |
15/06/2001 |
15/06/2001 |
- |
Active |
NO |
|
2 |
U34100MH1995PTC091871 |
LELE AUTO
PRIVATE LIMITED |
Director |
01/04/2007 |
01/04/2007 |
- |
Active |
NO |
|
3 |
U55101MH2008PTC180609 |
NASHIK PLAZA
HOTELS PRIVATE LIMITED |
Director |
28/03/2008 |
28/03/2008 |
- |
Active |
NO |
|
4 |
U70102MH2007PTC220021 |
G. S. P ESTATE
PRIVATE LIMITED |
Additional
director |
12/08/2010 |
12/08/2010 |
- |
Active |
NO |
|
Name : |
Mrs. Anita Rajendra Katore |
|
Designation : |
Director |
|
Address : |
Flat No. 1 Paragpushpa Apartments, Near Mhasoba Mandir, Nashi Pune
Road, Nashik-422101, Maharashtra, India |
|
Date of Birth/Age : |
20.05.1974 |
|
Date of Appointment : |
15.06.2001 |
Directorship in
Other Companies :
|
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 |
U99999MH1988PTC047704 |
UKAY METAL
INDUSTRIES PRIVATE LIMITED |
Director |
15/06/2001 |
15/06/2001 |
- |
Active |
NO |
|
2 |
U34100MH1995PTC091871 |
LELE AUTO
PRIVATE LIMITED |
Director |
01/04/2007 |
01/04/2007 |
- |
Active |
NO |
|
3 |
U55101MH2008PTC180609 |
NASHIK PLAZA
HOTELS PRIVATE LIMITED |
Director |
28/03/2008 |
28/03/2008 |
- |
Active |
NO |
|
4 |
U70102MH2007PTC220021 |
G. S. P ESTATE
PRIVATE LIMITED |
Additional
director |
12/08/2010 |
12/08/2010 |
- |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Mr. Rajendra Tulsidas Katore |
|
108000 |
|
Mrs. Anita Rajendra Katore |
|
54616 |
|
Katore Tulsidas Rajendra (HUF) |
|
18000 |
|
Total |
|
180616 |
AS ON 30.09.2011
|
Category |
Percentage |
|
Bodies corporate |
55.00 |
|
Directors or relatives of Directors |
45.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Fiber Glass Moulded Products, P U Foam Moulded
Products, Vaccum Forming Products. |
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Exports : |
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Countries : |
Egypt, European Countries |
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Imports : |
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Products : |
Raw Material |
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Countries : |
Korea, China |
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Terms : |
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Selling : |
Cash, Credit |
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Purchasing : |
Cash, Credit |
GENERAL INFORMATION
|
Suppliers : |
·
Network Polymers Private Limited ·
BASF Polyurethanes |
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Customers : |
Wholesalers, Retailers ·
Mahindra And Mahindra Limited |
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No. of Employees : |
200 (Approximately) |
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Bankers : |
·
Bank of Maharashtra, SSI Branch, Satpur ·
HDFC Bank ·
City Bank ·
Federal Bank |
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Facilities : |
CC Rs.20.000 Millions. TL Rs.40.000 Millions
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
G G Yeola And Associates Chartered Accountant |
|
Address : |
Ground Floor, Ganeshree Old Pandit Colony, Sharanpur Road, Nashik-422002,
Maharashtra, India |
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|
|
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Associates/Subsidiaries : |
NIL |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000 |
Equity Shares |
Rs.100/- each |
Rs.50.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
180616 |
Equity Shares |
Rs.100/-
each |
Rs.18.062
Millions |
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 |
18.062 |
0.918 |
0.918 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
33.579 |
18.938 |
12.490 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
51.641 |
19.856 |
13.408 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
40.414 |
(2.697) |
2.494 |
|
|
2] Unsecured Loans |
0.000 |
24.828 |
2.363 |
|
|
TOTAL BORROWING |
40.414 |
22.131 |
4.857 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
92.055 |
41.987 |
18.265 |
|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
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|
FIXED ASSETS [Net Block] |
55.733 |
22.246 |
16.607 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
10.800 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
35.848
|
32.341 |
28.940 |
|
|
Sundry Debtors |
174.036
|
109.058 |
68.421 |
|
|
Cash & Bank Balances |
2.932
|
18.406 |
6.013 |
|
|
Other Current Assets |
1.593
|
1.697 |
0.014 |
|
|
Loans & Advances |
54.245
|
3.963 |
0.651 |
|
Total
Current Assets |
268.654
|
165.465 |
104.039 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
224.426
|
137.229 |
91.531 |
|
|
Other Current Liabilities |
7.194
|
4.758 |
8.671 |
|
|
Provisions |
11.512
|
3.737 |
2.179 |
|
Total
Current Liabilities |
243.132
|
145.724 |
102.381 |
|
|
Net Current Assets |
25.522
|
19.741 |
1.658 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
92.055 |
41.987 |
18.265 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
|
691.414 |
352.360 |
|
|
|
Labour Charges Recd |
|
0.632 |
3.184 |
|
|
|
Other Income |
|
0.056 |
0.537 |
|
|
|
TOTAL (A) |
933.409 |
692.102 |
356.081 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Raw Material Consumed |
|
614.363 |
311.630 |
|
|
|
Manufacturing and Other Expenses |
|
38.265 |
24.791 |
|
|
|
Administrative and Other Expenses |
|
21.796 |
10.365 |
|
|
|
TOTAL (B) |
NA |
674.424 |
346.786 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
NA |
17.678 |
9.295 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
NA |
3.416 |
0.968 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
NA |
14.262 |
8.327 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
NA |
4.484 |
4.223 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
14.640 |
9.778 |
4.104 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
NA |
0.000 |
0.889 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
NA |
9.778 |
3.215 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
13.164 |
9.948 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
22.941 |
13.163 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
-- |
-- |
-- |
|
Expected Sales (2011-2012) : Rs.1150.000 Millions
The above information has been parted by Mr. Rajendra (Director).
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
NA
|
1.41 |
0.90 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
1.41 |
1.16 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.51
|
5.20 |
3.40 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.28
|
0.49 |
0.30 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
5.49
|
8.45 |
7.99 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.10
|
1.13 |
1.01 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
(Rs.
In Millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors |
224.426
|
137.229 |
91.531 |
|
Check List by
Info Agents |
Available in
Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
|
4) Premises details |
Yes |
|
5) Type of Business |
Yes |
|
6) Line of Business |
Yes |
|
7) Promoter's background |
-- |
|
8) No. of employees |
Yes |
|
9) Name of person contacted |
Yes |
|
10) Designation of contact person |
Yes |
|
11) Turnover of firm for last three years |
Yes |
|
12) Profitability for last three years |
No |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
Yes |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
-- |
|
17) Major suppliers |
Yes |
|
18) Major customers |
Yes |
|
19) Payments terms |
Yes |
|
20) Export / Import details (if applicable) |
-- |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter
involved in |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
Yes |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
No |
|
28) Incorporation details, if applicable |
-- |
|
29) Last accounts filed at ROC |
-- |
|
30) Major Shareholders, if available |
-- |
Fixed Assets:
·
Computer And Printer
·
Dies And Moulds
·
Electrical Installation
·
ERP Software
·
Factory Building
·
Free Hold Land
·
Furniture And Fixtures
·
Lab Instruments
·
Plant And Machinery
·
Tools And Dies
·
Water Pumpset
·
Refrigerator
·
Vehicle Mahindra Loading
·
Vehicle Mahindra Xylo
·
Generator Set
·
Vehicle Appe Truck
·
Vehicle Tata 407 LPT
·
Fire Fighting Instrument
·
Close Circuit T V
Instrument
·
WIP Work of Furniture and
Fixture
·
WIP Construction
Form 8:
|
This form is for |
Creation of charge |
|
Charge identification number of the
modified |
-- |
|
Corporate identity number of the company |
U99999MH1988PTC047704 |
|
Name of the company |
UKAY METAL INDUSTRIES PRIVATE LIMITED |
|
Address of the registered office or of the
principal place of business in |
1-Amarjyot,Dr. R.P. Road, Mulund (W),
Mumbai - 400 080 Maharashtra, India |
|
Type of charge |
Book Debts Movable Property Immovable Property |
|
Particular of charge holder |
Bank Of Maharashtra Ssi Branch, Satpur
Plot No. 44/13, Midc, Satpur Nashik-422007, Maharashtra, India |
|
Nature of description of the instrument
creating or modifying the charge |
Memorandum Of Record Of Equitable Mortgage
For (1) Cash Credit Rs.20.000 Millions And Term Loan Rs.4,0.000 Millions Total
Exposure Rs.60.000 Millions |
|
Date of instrument Creating the charge |
31.01.2011 |
|
Amount secured by the charge |
Rs.60.000 Millions |
|
Brief particulars of the principal terms
an conditions and extent and operation of the charge |
Rate of Interest For Both Facilities Interest @ Base Rate +
4.25% I. e. Presently 12.50% p. a. Terms of Repayment (1) Cash Credit Repayment On Demand, To Be
Renewed / Reviewed On Yearly Basis (2) Term Loan To Be Repaid In 60 Monthly
Instalments, 59 Monthly Instalments Of
Rs.0.667 millions And Last Instalment Of Rs.0.647 millions Commencing From
April 2011 Margin Cash Credit 25% Term Loan 43.4% Extent and Operation of the charge Working Capital And Term Loan Financed As
Per Bank Norms From Time To Time Others NIL |
|
Short particulars of the property charged |
Hypothecation Of Stock And Book Debts
(Receivables) Hypothecation Of Plant And Machinery Mortgage Of Plot No. F-139, Additional
Nashik Industrial Area, Ambad, Nashik 422010 Admeasuring 971.00 Sq. Mtrs.
Togetherwith A Building Constructed Thereon Mortgage Of Plot No. E-75, Additional
Nashik Industrial Area, Ambad, Nashik 422010 Admeasuring 7800.00 Sq. Mtrs.
Togetherwith A Building Constructed Thereon |
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.50.12 |
|
|
1 |
Rs.79.37 |
|
Euro |
1 |
Rs.66.00 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--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 |
|
47 |
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.