MIRA
INFORM REPORT
|
Report Date : |
09.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
|
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|
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Registered
Office : |
S. No. 66/5/22, Crystal House, Katraj Kondhwa Road, Kondhwa (Bk), Pune
– 411048, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
24.03.1994 |
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Com. Reg. No.: |
25-077295 |
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CIN No.: [Company Identification
No.] |
U30006MH1994PTC077295 |
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Capital
Investment / Paid-up Capital : |
Rs. 2.156 Millions |
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|
Legal Form : |
Private Limited Liability Company |
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|
Line of Business
: |
Manufacturer of Display Systems, Panel Meters, Testers, Indicators,
etc. |
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|
No. of Employees
: |
22 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (14) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. There appears
some accumulated losses recorded by the company. Profitability of the company
is under pressure. Trade relations are reported as fair. Business is active.
Payments are reported to be slow. The company can be considered for business dealings on a safe and
secured 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
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Vikas Gandhi |
|
Designation : |
Director |
|
Contact No.: |
91-9822172970 |
|
Date : |
19.04.2012 |
LOCATIONS
|
Registered Office : |
S. No. 66/5/22, Crystal House, Katraj Kondhwa Road, Kondhwa (Bk), Pune
– 411048, Maharashtra, India |
|
Tel. No.: |
91-22-26932814 |
|
Mobile No.: |
91-9822172970 (Mr. Vikas Gandhi) |
|
Fax No.: |
91-22-26932815 |
|
E-Mail : |
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|
Location : |
Owned |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Pankaj Shah |
|
Designation : |
Managing Director |
|
Address : |
105, Shamsunder Co-Op. Society, 9-10/434, |
|
Date of Birth/Age : |
26.03.1956 |
|
Date of Appointment : |
24.03.1994 |
|
DIN No.: |
00079999 |
|
|
|
|
Name : |
Mrs. Jaybala Pankaj Shah |
|
Designation : |
Director |
|
Address : |
105, Shamsunder Co-Op. Society, 9-10/434, |
|
Date of Birth/Age : |
15.03.1958 |
|
Date of Appointment : |
24.03.1994 |
|
DIN No.: |
00199673 |
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|
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|
Name : |
Mr. Vikas Gandhi |
|
Designation : |
Director |
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Address : |
201, |
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Date of Birth/Age : |
24.01.1961 |
|
Date of Appointment : |
27.10.1994 |
|
DIN No.: |
00203091 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Pankaj Shah |
|
130700 |
|
Jaybala Shah |
|
25600 |
|
Dalsukh shah |
|
200 |
|
Hasmukhray Shah |
|
10200 |
|
Chetan Shah |
|
200 |
|
Shantilal Turakhia |
|
200 |
|
Vikas Gandhi |
|
200 |
|
Ashok Kshirsagar |
|
200 |
|
Nawalchand Shah |
|
200 |
|
Pankaj Shah (HUF) |
|
5600 |
|
Vimalaben Shah |
|
10400 |
|
ILA Shah |
|
200 |
|
Darshak Shah |
|
21500 |
|
Alap Shah |
|
10000 |
|
Shyamkant Janardan Wakchaure |
|
200 |
|
Total |
|
215600 |
Equity share breakup (Percentage of Total equity)
As on 30.09.2011
|
Category |
Percentage |
|
Directors or relatives of Directors |
99.72 |
|
Other top fifty shareholders |
0.28 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Display Systems, Panel Meters, Testers, Indicators,
etc. |
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Products : |
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Terms : |
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Purchasing : |
Cash, Credit |
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Selling : |
Cash, Credit |
GENERAL INFORMATION
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Customers : |
·
Wholesalers ·
Retailers ·
General Motors ·
Tata Motors |
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Suppliers : |
·
Tryo Radio |
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No. of Employees : |
22 (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 : |
Swapnil K. Bachute and Company Chartered Accountant |
|
Address : |
Flat No. 3, 1st Floor, Pratibha Complex, Kasba Peth, Pune –
411011, |
|
PAN.: |
AIPPB9125N |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000 |
Equity Shares |
Rs.10/- each |
Rs. 2.500 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
215600 |
Equity Shares |
Rs.10/- each |
Rs. 2.156
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 |
2.156 |
2.156 |
2.154 |
|
|
2] Share Application Money |
0.100 |
0.100 |
0.102 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
1.024 |
|
|
4] (Accumulated Losses) |
(2.911) |
(1.034) |
0.000 |
|
|
NETWORTH |
(0.655) |
1.222 |
3.280 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
4.759 |
7.563 |
9.562 |
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2] Unsecured Loans |
12.680 |
10.139 |
6.940 |
|
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TOTAL BORROWING |
17.439 |
17.702 |
16.502 |
|
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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|
|
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TOTAL |
16.784 |
18.924 |
19.782 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
12.174 |
13.331 |
13.286 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.100 |
0.100 |
0.100 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
3.872
|
3.732 |
3.845 |
|
|
Sundry Debtors |
4.931
|
7.720 |
8.623 |
|
|
Cash & Bank Balances |
0.258
|
0.096 |
0.210 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
0.493
|
0.415 |
1.120 |
|
Total
Current Assets |
9.554
|
11.963 |
13.798 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
2.748
|
4.035 |
3.947 |
|
|
Current Liabilities |
2.296
|
2.435 |
3.455 |
|
|
Provisions |
0.000
|
0.000 |
0.000 |
|
Total
Current Liabilities |
5.044
|
6.470 |
7.402 |
|
|
Net Current Assets |
4.510
|
5.493 |
6.396 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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|
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|
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TOTAL |
16.784 |
18.924 |
19.782 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
NA |
17.141 |
22.115 |
|
|
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Other Income |
NA |
-- |
-- |
|
|
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TOTAL |
NA |
NA |
NA |
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|
|
|
|
|
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|
Less |
EXPENSES |
|
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Office Expenses |
NA |
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Administrative Expenses |
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Advertising Expenses |
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|
|
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TOTAL |
NA |
NA |
NA |
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|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
(0.571) |
(1.271) |
0.919 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1.306 |
0.787 |
0.206 |
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|
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|
PROFIT BEFORE
TAX (C-D) |
(1.877) |
(2.058) |
0.713 |
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|
|
|
|
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Less |
TAX |
-- |
0.000 |
0.298 |
|
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|
|
PROFIT AFTER TAX
(E-I) |
-- |
(2.058) |
0.415 |
|
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|
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|
|
|
Earnings Per
Share (Rs.) |
--- |
(9.54) |
1.92 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Net Profit Margin (PBT/Sales) |
(%) |
--
|
(12.00) |
3.22 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(8.63)
|
(1.02) |
2.63 |
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|
|
Return on Investment (ROI) (PBT/Networth) |
|
2.86
|
(1.68) |
0.22 |
|
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|
Debt Equity Ratio (Total Liability/Networth) |
|
(34.32)
|
(19.78) |
7.29 |
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|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.89
|
1.85 |
1.86 |
LOCAL AGENCY FURTHER INFORMATION
Note – the registered
office address of the company has been shifted from 10, Vertex Plaza, E 23/24,
Market Yard, Pune-411037, Maharashtra, India to present address w.e.f.
31.01.2012
Trade References:
·
General Motors
·
Tata Motors
·
Tryo Radio
Fixed Assets:
- Land
- R and D Center
- Plant and Machinery
- Furniture and Fittings
- Computer and Periph
- Office Equipment
- Tools
- Vehicle Scooter
- Vehicle Car Santro
- Vehicle Fiero
- Vehicle Activa 9952
- Vehicle Car Honda City
- Vehicle Activa 6170
- Vehicle Activa 3047
- Vehicle Activa 3048
- Building
- Printer
- TVS Scooter
- Furniture (WIP)
- Invertor
Form 8
|
Corporate
identity number of the company |
U30006MH1994PTC077295 |
||||||
|
Name of the
company |
CRYSTAL PERIPHERALS AND SYSTEMS PRIVATE LIMITED |
||||||
|
Address of the
registered office or of the principal place of business in |
10, |
||||||
|
This form is for |
Creation of
charge |
||||||
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Type of charge |
Book debts Floating charge |
||||||
|
Particular of
charge holder |
|
||||||
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Nature of
instrument creating charge |
Deed Of
Hypothecation Of Stock, Book Debts And Machnery Dated 02.06.2011 |
||||||
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Date of
instrument Creating the charge |
02.06.2011 |
||||||
|
Amount secured by
the charge |
Rs. 2.000
Millions |
||||||
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest -
Presently Applicable 14.50% P.A Terms of
Repayment Period - 60 Days Margin Margin- 25% In
Banks Favour Extent and
Operation of the charge The Charge Shall
Continue To Operate Until The Full Repayment Of Loan By The Company Others Facility - Adhoc
Cash Credit Limit Of Rs. 2.000 Millions |
||||||
|
Particulars of
the property charged |
All Its Stock In
Trade, Raw Materials, Goods In Progess, Semi-Finished Goods Situated At
Crystal House, Katraj Kondhawa Road, 66/5/22, Kondhawa Pune- 48 Or At Any
Other Place Of Business Of Company All The Present
And Future Book Debts, Outstanding Moneys, Receivables, Claims, Bills Choosen
In Action, Contracts, Engagements And Securities Of The Company |
|
Corporate
identity number of the company |
U30006MH1994PTC077295 |
|
Name of the
company |
|
|
Address of the
registered office or of the principal place of business in |
10, |
|
This form is for |
Creation of Charge |
|
Type of charge |
|
|
Particular of
charge holder |
The Cosmos Co-Operative Bank Limited, |
|
Nature of
instrument creating charge |
Mortgage and
Hypothecation (Composite Deed) |
|
Date of
instrument Creating the charge |
23.06.2006 |
|
Amount secured by
the charge |
Rs. 9.600
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Cash Credit : RS.
40,00,000/- , Bank Guarantee : Rs. 5,00,000/- and Term Loan : Rs. 51,00,000/- Rate of Interest
@ 10.50 % p. a. for cash credit and term loan Margin : 25 % in
case of cash credit and 52 % in case of term loan |
|
Description of
the Property Charged |
|
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Present and
Future Stock and Book Debts as per records maintained at the Registered
office, Pune and Immovable Properties as described in 1st and 2nd schedule
attached to the composite deed |
|
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 |
No |
|
5) Type of Business |
Yes |
|
6) Line of Business |
Yes |
|
7) Promoter's background |
Yes |
|
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
(2 years) |
|
12) Profitability for last
three years |
Yes |
|
13) Reasons for variation
<> 20% |
No |
|
14) Estimation for coming
financial year |
No |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
No |
|
17) Major suppliers |
Yes |
|
18) Major customers |
Yes |
|
19) Payments terms |
Yes |
|
20) Export / Import details
(if applicable) |
No |
|
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 |
Yes |
|
28) Incorporation details, if
applicable |
Yes |
|
29) Last accounts filed at ROC |
Yes |
|
30) Major Shareholders, if
available |
Yes |
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.52.85 |
|
|
1 |
Rs.85.44 |
|
Euro |
1 |
Rs.68.80 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
NLM |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
1 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
14 |
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.