1. Summary Information

 

 

Country

India

Company Name

NEXO INDUSTRIES LIMITED

Principal Name 1

Mr. Amrik Singh

Status

Satisfactory

Principal Name 2

Mr. Rajinder Singh

 

 

Registration #

16 - 021859

Street Address

585, Overlock Roadmiller Ganj, Ludhiana – 141 003, Punjab, India

Established Date

09.10.1998

SIC Code

--

Telephone#

91-161-2848040

Business Style 1

Manufacturer

Fax #

91-161-2848042

Business Style 2

--

Homepage

http://www.nexoindia.com

Product Name 1

Nuts

# of employees

340 (Office-40, Factory-300) Approximately

Product Name 2

Bolts

Paid up capital

Rs. 99,565,000/-

Product Name 3

Structures

Shareholders

Directors or relatives of directors – 100%

Banking

State Bank of India

Public Limited Corp.

No

Business Period

14 Years

IPO

No

International Ins.

-

Public Enterprise

No

Rating

Ba (49)

Related Company

Relation

Country

Company Name

CEO

Note

-

 

2. Summary Financial Statement

Balance Sheet as of

31.03.2011

(Unit: Indian Rs.)

Assets

Liabilities

Current Assets

512,121,000

Current Liabilities

234,295,000

Inventories

272,291,000

Long-term Liabilities

360,224,000

Fixed Assets

316,522,000

Other Liabilities

19,303,000

Deferred Assets

0

Total Liabilities

613,822,000

Invest& other Assets

35,000

Retained Earnings

387,582,000

 

 

Net Worth

487,147,000

Total Assets

1,100,969,000

Total Liab. & Equity

1,100,969,000

 Total Assets

(Previous Year)

1,109,218,000

 

 

P/L Statement as of

31.03.2011

(Unit: Indian Rs.)

Sales

1,399,804,000

Net Profit

60,962,000

Sales(Previous yr)

1,437,583,000

Net Profit(Prev.yr)

67,676,000

 

 

 

 

MIRA INFORM REPORT

 

 

Report Date :

23.05.2012

 

IDENTIFICATION DETAILS

 

Name :

NEXO INDUSTRIES LIMITED [w.e.f. 11.07.2005]

 

 

Formerly Known As :

NEXO INDUSTRIES PRIVATE LIMITED

 

 

Registered Office :

585, Overlock Roadmiller Ganj, Ludhiana – 141 003, Punjab

 

 

Country :

India

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

09.10.1998

 

 

Com. Reg. No.:

16 - 021859

 

 

Capital Investment / Paid-up Capital :

Rs. 99.565 Millions

 

 

CIN No.:

[Company Identification No.]

U28939PB1998PLC021859

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

JLDN00600F

 

 

PAN No.:

[Permanent Account No.]

AABCN0558L

 

 

Legal Form :

A Closely held Public Limited Liability Company

 

 

Line of Business :

Manufacturer of Nuts, bolts and Structures.

 

 

No. of Employees :

340 (Office-40, Factory-300) (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (49)

 

RATING

STATUS

 

PROPOSED CREDIT LINE

41-55

Ba

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

Satisfactory

 

Maximum Credit Limit :

USD 1900000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Comments :

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

 

The company can be considered normal for business dealings at usual trade terms and conditions.

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List – 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

 

 

LOCATIONS

 

Registered Office :

585, Overlock Road, Miller Ganj, Ludhiana – 141 003, Punjab, India

Tel. No.:

91-161-2532331/ 2532332/ 2532333/2848040

Fax No.:

91-161-2848042/2532334/ 2535280

E-Mail :

nexo_ind@yahoo.com

nexo@nexoindia.com

sbi.05276@sbi.co.in

nexo@vsnl.com

samna_ldh@yahoo.com

Website :

http://www.nexoindia.com

http://www.nexogroup.com

 

 

Head Office :

Village Mangarh, Kohara Machhiwara Road, Ludhiana, Punjab, India

Tel. No.:

91-161-2848686/ 2848040

Fax No.:

91-161-2848042/ 2843662

E-Mail :

info@nexoindia.com

 

 

Factory  :

Focal Point, Ludhiana – 141 001, Punjab, India

Area :

3000 Sq. Yards

Location :

Owned

 

 

Branch Office :

Located At:

 

v      New Delhi

v      Mumbai

v      Chennai

v      Vadodara

v      Hyderabad

 

 

DIRECTORS

 

AS ON 30.09.2011

 

Name :

Mr. Amrik Singh

Designation :

Director

Address :

330, Model Town, Ludhiana – 141 002, Punjab, India

Date of Birth/Age :

14.08.1961

Date of Appointment :

09.10.1998

DIN No.:

00933844

Other Directorship :

 

S.No.

CIN

Name of the Company

Current designation of the director

Date of appointment at current designation

Original date of appointment

Company Status

Defaulting status

1

U28939PB1998PLC021859

NEXO INDUSTRIES LIMITED

Managing director

01-11-08

09-10-98

Active

NO

2

U55101PB2005PTC028896

IVORY RETREAT PRIVATE LIMITED

Director

13-02-09

13-02-09

Active

NO

 

 

Name :

Mr. Rajinder Singh

Designation :

Director

Address :

250 – R, Model Town, Ludhiana – 141 002, Punjab, India

Date of Birth/Age :

15.07.1943

Date of Appointment :

09.10.1998

DIN No.:

01039135

Other Directorship :

 

S.No.

CIN

Name of the Company

Current designation of the director

Date of appointment at current designation

Original date of appointment

Company Status

Defaulting status

1

U28939PB1998PLC021859

NEXO INDUSTRIES LIMITED

Managing director

01-11-08

09-10-98

Active

NO

2

U55101PB2005PTC028896

IVORY RETREAT PRIVATE LIMITED

Director

13-02-09

13-02-09

Active

NO

 

 

Name :

Mr. Charanjit Kaur

Designation :

Director

Address :

330, Model Town, Ludhiana – 141 002, Punjab, India

Date of Appointment :

30.09.2005

DIN No.:

01041990

 

 

Name :

Mr. Gurdip Kaur

Designation :

Director

Address :

250 – R, Model Town, Ludhiana – 141 002, Punjab, India

Date of Appointment :

30.09.2005

DIN No.:

02475562

 


 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2011

 

Names of Shareholders

 

No. of Shares

Rajinder Singh

 

5091500

Amrik Singh

 

3957500

Avtar Singh

 

250000

Amritpal Singh

 

50000

Gurdip Kaur

 

150000

Rajinder Singh and Sons, India

 

50000

Charanjit Kaur

 

400500

Mandeep Kaur

 

500

Gurvinder Kaur

 

500

Gurvinder Singh

 

2500

Sukhwinder Singh

 

500

Suminder kaur

 

500

Manjeet Singh

 

500

Kuldeep Singh

 

500

Manpreet Singh

 

500

Harbhajan Singh and Sons (HUF), India

 

500

Paramjit Kaur

 

500

Total

 

9956500

 

 

AS ON 30.09.2011

 

Equity Share Breakup

 

Percentage of Holding

Category

 

 

Directors or relatives of directors

 

100.00

Total

 

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of Nuts, bolts and Structures.

 

 

Products :

v      Hex Bolt

v      Hex Screw

v      Hex Nut

v      Coach Bolt

v      Hex Bolt(structural)

v      Spring Washer

v      Plain Washer

v      Pack Washer

v      High Strength Structural Boly (Heavy Series)

v      High Strength Structural Nut (Heavy Series)

v      Heavy Washer

v      Mechanical Properties of Bolt and Nut

v      Hot Dip Galvanising

 

 

PRODUCTION STATUS AS ON 31.03.2011

 

Particulars

Unit

Licensed Capacity

Installed Capacity

Actual Production

Fasteners

M.T.

N.A.

N.A.

20373.119

Structure

M.T.

N.A.

N.A.

225.035

 

 

GENERAL INFORMATION

 

No. of Employees :

340 (Office-40, Factory-300) Approximately

 

 

Bankers :

State Bank of India, SCB Miller Ganj, Pahwa Complex, Ludhiana – 141003, Punjab, India

 

 

 

Facilities :

Secured Loan

As on 31.03.2011

(Rs. in Millions)

As on 31.03.2010

(Rs. in Millions)

Rupee term loan bank secured

63.935

64.732

Working capital loans bank secured

257.436

430.313

Loans taken for vehicles secured

4.770

10.910

Total

326.141

505.955

 

 

 

Unsecured Loan

As on 31.03.2011

(Rs. in Millions)

As on 31.03.2010

(Rs. in Millions)

Rupee term loan bank secured

6.719

2.394

Loans directors unsecured

14.574

9.014

Other Debt unsecured

12.790

11.691

Total

34.083

23.099

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Kapoor Sanjay and Associates

Chartered Accountants

Address :

72-73, Guru Nanak Dev market, Near Water Tank, Gill Road, Ludhiana – 141 001, Punjab, India

Income-tax PAN of auditor or auditor's firm :

AAWPK9744M

 


 

CAPITAL STRUCTURE

 

AS ON 31.03.2011

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

10000000

Equity Shares

Rs. 10/- each

Rs. 100.000 Millions

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

9956500

Equity Shares

Rs. 10/- each

Rs. 99.565 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

99.565

19.913

19.913

2] Share Application Money

0.000

0.000

0.000

3] Reserves & Surplus

387.582

406.272

338.595

4] (Accumulated Losses)

0.000

0.000

0.000

NETWORTH

487.147

426.185

358.508

LOAN FUNDS

 

 

 

1] Secured Loans

326.141

505.955

373.275

2] Unsecured Loans

34.083

23.099

19.955

TOTAL BORROWING

360.224

529.054

393.230

DEFERRED TAX LIABILITIES

8.762

11.337

6.788

 

 

 

 

TOTAL

856.133

966.576

758.526

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

316.522

335.765

248.528

Capital work-in-progress

0.000

0.000

0.000

 

 

 

 

INVESTMENT

0.035

0.035

0.035

DEFERRED TAX ASSETS

0.000

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories

272.291
168.186
168.186

 

Sundry Debtors

295.528
275.510
275.510

 

Cash & Bank Balances

30.329
43.807
43.807

 

Other Current Assets

0.000
0.000
0.000

 

Loans & Advances

186.264
154.470
154.470

Total Current Assets

784.412

773.418

641.973

Less : CURRENT LIABILITIES & PROVISIONS

 

 

 

 

Sundry Creditors

211.249

119.814

106.394

 

Other Current Liabilities

23.046

18.887

15.438

 

Provisions

10.541

3.941

10.178

Total Current Liabilities

244.836

142.642

132.010

Net Current Assets

539.576

630.776

509.963

 

 

 

 

MISCELLANEOUS EXPENSES

0.000

0.000

0.000

 

 

 

 

TOTAL

856.133

966.576

758.526

 

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2011

31.03.2010

31.03.2009

 

SALES

 

 

 

 

 

Operating revenue

1399.804

1437.583

1667.451

 

 

Other Income

46.182

38.144

22.180

 

 

TOTAL                                     (A)

1445.986

1475.727

1689.631

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Consumption material changes inventories

872.564

954.509

 

 

Manufacturing service costs

254.230

205.109

 

 

 

Employee related expenses

46.214

52.215

1500.769

 

 

Administrative selling other Expenses

72.372

64.276

 

 

 

TOTAL                                     (B)

1245.38

1276.109

 

 

 

 

 

 

Less

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

200.606

199.618

188.862

 

 

 

 

 

Less

FINANCIAL EXPENSES                         (D)

67.089

58.971

68.714

 

 

 

 

 

 

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

133.517

140.647

120.148

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

45.414

35.643

26.502

 

 

 

 

 

 

PROFIT BEFORE TAX (E-F)                               (G)

88.103

105.004

93.646

 

 

 

 

 

Less

TAX                                                                  (H)

27.141

37.328

32.815

 

 

 

 

 

 

PROFIT AFTER TAX (G-H)                                (I)

60.962

67.676

60.831

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

328.972

261.295

249.178

 

 

 

 

 

Less

APPROPRIATIONS

 

 

 

 

 

Transfer to General Reserve

N.A.

N.A.

 

 

Dividend

N.A.

N.A.

48.714

 

 

Tax on Dividend

N.A.

N.A.

 

 

BALANCE CARRIED TO THE B/S

389.934

328.971

261.295

 

 

 

 

 

 

Earnings Per Share (Rs.)

5.67

367.89

305.48

 

 


KEY RATIOS

 

PARTICULARS

 

 

31.03.2011

31.03.2010

31.03.2009

PAT / Total Income

(%)

4.22

4.59

5.54

 

 

 

 

 

Net Profit Margin

(PBT/Sales)

(%)

6.29

7.30

5.62

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

8.00

9.47

10.52

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.18

0.24

0.26

 

 

 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 

1.24

1.58

1.47

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

3.20

5.42

4.86

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

 

Check List by Info Agents

Available in Report (Yes / No)

1.       Year of Establishment

Yes

2.       Locality of the firm

Yes

3.       Constructions 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

No

10.   Designation of contact person

No

11.   Turnover of firm for last three years

Yes

12.   Profitability for last three years

Yes

13.   Reasons for variation <> 20%

--

14.   Estimation for coming financial year

No

15.   Capital in the business

Yes

16.   Details of sister concerns

No

17.   Major suppliers

No

18.   Major customers

No

19.   Payments terms

No

20.   Export / Import details

No

21.   Market information

--

22.   Litigations that the firm / promoter involved

--

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

 

 

BANKERS CHARGES REPORT AS PER REGISTRY

 

Corporate identity number of the company

U28939PB1998PLC021859

Name of the company

NEXO INDUSTRIES LIMITED

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

585, Overlock Roadmiller Ganj, Ludhiana – 141 003, Punjab, India

This form is for

Modification of charge

Charge identification number of the modified 

90171980

Type of charge

Immovable Property

Book Debts

Movable Property

Other (1st charge on entire current and fixed assets)

Particular of charge holder

State Bank of India, SCB Miller Ganj, Pahwa Complex, Ludhiana – 141003, Punjab, India

Email ID: sbi.04046@sbi.co.in

Nature of description of the instrument creating or modifying the charge

Supplemental agreement of hypothecation of goods and assets for increase in the overall limit

 

Letter regarding the grant of individual limits within the overall limit

Date of instrument Creating the charge

29.11.2011

Amount secured by the charge

Rs. 611.400 Millions

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

Rate of Interest

Cash credit 3.25% above base rate effective rate 13.25

SLC 4.25% above base rate effective rate 14.25%

Term loan-I  4.75% above base rate effective rate 14.75%

Term loan-II 4.75% above base rate

 

Terms of Repayment

Working Capital:      On Demand

 

Margin

Stocks : 25%, EPC 15%

Book debts: 40%

LC/BG : 15%

 

Extent and Operation of the charge

100%

Short particulars of the property charged

Equitable Mortgage of Leasehold Rights of Factory land and  Building at Village Man Garh, Kohara - Machiwara Road, Ludhiana

Date of latest modification prior to the present modification

20.07.2010

Particulars of the present modification 

Cash credit hypothecation Limit enhanced to Rs. 360.000 millions with cash credit BD limit of Rs. 170.000 millions. EPC/ PCFC sub limit enhanced from millions to 120.000 millions. SLC limit Rs. 50.000 millions, CEL on forward contract Rs. 06.600 millions.  Other facilities and terms  and conditions remaining the same.  Now totalling Rs. 611.400 millions.

 

 

CONTINGENT LIABILITIES:

 

i) Capital contracts to be executed: Rs. Millions (P.Y. Rs.4.753 Millions) net of advances.

 

ii) Bank Guarantee outstanding Rs.5.560 Millions and Letter of Credit outstanding Rs. 131.518 Millions against the margin of Rs.25.561 Millions with bank as STDR’s

 

 

AS PER WEBSITE DETAILS

 

PROFILE:

 

Subject is a name in the world of fasteners and structure, has been assisting the Global economy in the areas of Electricity, Telecommunication, Railways and Road Safety Guard Rails. Growing with growth in these areas Subject, today forms an Industry managing Two companies, namely, Nexo Industries Limited and Sond Impex Private Limited

 

Nexo Fastners Division:


Established its base in 1964 for manufacturing fasteners Nexo Industries Limited and High Tensile fasteners in 1978 with Hot Dip Galvanized fasteners in 1982. Nexo Industries Limited, has attained a place among the leading manufacturers of fasteners in the world. In the year 1997, after a number of achievements towards our aim of "Total Quality Management", Nexo became the first ISO 9002 Company in India of manufacturing Hot Dip Galvanized Fasteners. Nexo , having won the trust of OEM customers in highly competitive and quality-conscious makers, grows by Doubling its turnover every 2 years. Their team of highly motivated and Dynamic Technocrats and the most sophisticated technology has always had a close edge over our quality control at each level of production. While giving the customers - an extra touch Nexo finds itself alone among others, to provide a widest range of fasteners with surface coating. Nexo as the biggest manufacturer of the hot dip Galvanized Fasteners with the production of 4000 tonns per month. Their aim of TQM is set to achieve the level of customer expectations beyond customer satisfaction.

 

Their Contribution to the Nation Building:

 

v      Bureau of International Standards (ISI).

v      Power Grid Corporation of India Limited (PGCIL) Electricity Distribution Authority of Government of India.

v      National Thermal Corporation of India Limited (NTPC) Electricity Generation Authority of Government of India.

v      Department of Telecommunication (DOT) Telecommunication Authority of Government of India.

v      Central Organization of Railway Electrification (CORE) Railway Controlling Authority of India.

v      Electricity Departments of Various States in India and Globally.

v      Director General Supplies and Disposal (DGS&D) Central Purchasing Authority of Government of India

v      India's forts 800KVA Line was established between 'Kishanpura Moga" with the fasteners of " Nexo ". The total order was 1500 M.T. from Cobra- Spain. They are supplying their fasteners to World's reputed Transmission Tower Lines manufacturer i.e. KEC International Limited, Kalpathru Limited and many more.

 


CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

1]         INFORMATION ON DESIGNATED PARTY

No records exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

 

2]         Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

 

3]         Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

 

4]         Record on Financial Crime :

            Charges or conviction registered against subject:                                                              None

 

5]         Records on Violation of Anti-Corruption Laws :

            Charges or investigation registered against subject:                                                          None

 

6]         Records on Int’l Anti-Money Laundering Laws/Standards :

            Charges or investigation registered against subject:                                                          None

 

7]         Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

 

8]         Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

 

9]         Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

 

10]        Press Report :

            No press reports / filings exists on the subject.

 

 

CORPORATE GOVERNANCE

 

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

 

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

 

 

CONTRAVENTION

 

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

 

 

FOREIGN EXCHANGE RATES

 

Currency

Unit

Indian Rupees

US Dollar

1

Rs. 54.88

UK Pound

1

Rs. 86.84

Euro

1

Rs. 70.21

 

 

INFORMATION DETAILS

 

Report Prepared by :

BVA

 


 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

6

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

6

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILIRY

1~10

5

--LIQUIDITY

1~10

6

--LEVERAGE

1~10

6

--RESERVES

1~10

5

--CREDIT LINES

1~10

6

--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

 

49

 

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

-

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.