MIRA
INFORM REPORT
|
Report Date : |
01.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
GUJARAT PICKERS INDUSTRIES LIMITED |
|
|
|
|
Registered
Office : |
404/405 |
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Country : |
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|
|
Financials (as
on) : |
31.03.2011 |
|
|
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|
Date of
Incorporation : |
31.08.2001 |
|
|
|
|
Com. Reg. No.: |
04-039959 |
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|
|
Capital
Investment / Paid-up Capital : |
Rs.31.940 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U23209GJ2001PLC039959 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMG00581A |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Trader of Polymers, Petrochemicals etc. |
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|
|
|
No. of Employees
: |
Information denied by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 240000 |
|
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|
Status : |
Moderate |
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|
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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. Latest financial ie 2011-12 are missing
from the government departments. From the financial of 2010-11 the company
seems to have moderate track. Profitability of the company appears to be low.
However, trade relations are reported as fair. Business is active. Payments
are reported to be slow. The company can be considered for business dealings with some
cautions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis - in large part because of strong domestic demand - and growth
exceeded 8% year-on-year in real terms. However, India's economic growth in
2011 slowed because of persistently high inflation and interest rates and
little progress on economic reforms. High international crude prices have
exacerbated the government's fuel subsidy expenditures contributing to a higher
fiscal deficit, and a worsening current account deficit. Little economic reform
took place in 2011 largely due to corruption scandals that have slowed
legislative work. India's medium-term growth outlook is positive due to a young
population and corresponding low dependency ratio, healthy savings and
investment rates, and increasing integration into the global economy. India has
many long-term challenges that it has not yet fully addressed, including
widespread poverty, inadequate physical and social infrastructure, limited
non-agricultural employment opportunities, scarce access to quality basic and
higher education, and accommodating rural-to-urban migration.
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
BB- (Long Term Rating) |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
01.10.2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A4+ (Short Term Rating) |
|
Rating Explanation |
Minimal degree of safety it carry very high
credit risk. |
|
Date |
01.10.2012 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DECLINED BY
|
Name : |
Mr. Jani |
|
Designation : |
Accounts Head |
|
Date : |
01.11.2012 |
LOCATIONS
|
Registered Office : |
404/405 Atlanta Complex, Gulbai Tekra, Ambawadi, Near Panchvati Cross
Road, Ahmedabad - 380009, Gujarat,
India |
|
Tel. No.: |
91-79-26421810 / 11 / 12 |
|
Fax No.: |
91-79-26560334/ 26564649 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on: 30.09.2011
|
Name : |
Mr. Ratibhai Makwana |
|
Designation : |
Director |
|
Address : |
8, Satkar Society, Near Azad Society, Ambawadi, Ahmedabad – 380015, Gujarat, India |
|
Date of Birth/Age : |
15.03.1945 |
|
Date of Appointment : |
24.11.2004 |
|
DIN No.: |
00175776 |
|
|
|
|
Name : |
Mr. Vasantkumar Makwana |
|
Designation : |
Director |
|
Address : |
570/1, Mafatnagar, Bhavnagar – 364006, Gujarat, India |
|
Date of Birth/Age : |
15.05.1959 |
|
Date of Appointment : |
31.08.2001 |
|
DIN No.: |
00184796 |
|
|
|
|
Name : |
Mr. Pratik Mohanlal Solanki |
|
Designation : |
Additional Director |
|
Address : |
23, Hans Residency, Near Anand Nagar Flats, Prahlad Nagar, Ahmedabad -
380051, Gujarat, India |
|
Date of Birth/Age : |
20.01.1987 |
|
Date of Appointment : |
11.09.2012 |
|
DIN No.: |
06378745 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Ratilal Galabhai Makwana |
|
519192 |
|
Vimal Mohanlal Makwana |
|
294314 |
|
Kamlaben Ratilal Makwana |
|
82459 |
|
Minaxiben Vasant Rai Makwana |
|
256121 |
|
Vasantrai Galabhai Makwana |
|
712660 |
|
Mukeshbhai Ratilal Makwana |
|
2313 |
|
Bhanwarlal Jain (HUF) |
|
4500 |
|
Ponkharaj Bhanwarlal Jain |
|
17000 |
|
Sureshkumar Gopilal |
|
6500 |
|
Vidhyadevi Ponkhraj Jain |
|
6250 |
|
Amrutbhai Galabhai Makwana |
|
120000 |
|
Dollyben Chiragbhai Makwana |
|
20000 |
|
Manish Babulal Amin |
|
841858 |
|
Jasumatiben N Chauhan |
|
242570 |
|
Kalpanaben R Makwana |
|
5000 |
|
M. D. Solanki |
|
17666 |
|
Narendrabhai H Chauhan |
|
3500 |
|
Veenaben P Chavda |
|
32137 |
|
Hansaben M Makwana |
|
10000 |
|
|
|
|
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Total |
|
3194040 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2011
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
89.21 |
|
Other top fifty shareholders |
|
10.79 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Polymers, Petrochemicals etc. |
GENERAL INFORMATION
|
No. of Employees : |
Information denied by the management |
||||||||||||||||||||||||||||||||||||
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Bankers : |
·
Bank of Baroda, Branch 3, Satyavadi Society,
Usmanpura, Ahmedabad - 380013, Gujarat, India ·
HDFC Bank Limited |
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Facilities : |
(Rs.
In Millions)
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||||||||||||||||||||||||||||||||||||
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
Surana Maloo and Company Chartered Accountants |
|
Address : |
404, 4th Floor, Shaival Plaza, Ellisbridge, Ahmedabad – 380006,
Gujarat, India |
|
Tel. No.: |
91-79-26420336/ 7/ 9 |
|
Fax. No.: |
91-79-26424100 |
|
PAN No.: |
AAHFS7809J |
CAPITAL STRUCTURE
As on: 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4000000 |
Equity Shares |
Rs.10/- each |
Rs.40.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3194040 |
Equity Shares |
Rs.10/- each |
Rs.31.940
Millions |
|
|
|
|
|
Note:
(Including 5,00,000 equity shares issued during the conversion of fully convertible debentures)
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 |
31.940 |
30.590 |
30.590 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
29.401 |
23.004 |
19.291 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
61.341 |
53.594 |
49.881 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
104.571 |
106.756 |
112.573 |
|
|
2] Unsecured Loans |
7.198 |
8.979 |
6.653 |
|
|
TOTAL BORROWING |
111.769 |
115.735 |
119.226 |
|
|
DEFERRED TAX LIABILITIES |
0.160 |
0.070 |
0.050 |
|
|
|
|
|
|
|
|
TOTAL |
173.270 |
169.399 |
169.157 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
3.985 |
3.630 |
3.559 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
13.559
|
15.990 |
28.657 |
|
|
Sundry Debtors |
141.908
|
137.853 |
117.052 |
|
|
Cash & Bank Balances |
9.608
|
3.804 |
1.887 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
12.853
|
20.889 |
25.584 |
|
Total
Current Assets |
177.928
|
178.536 |
173.180 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
4.797
|
8.034 |
3.443 |
|
|
Other Current Liabilities |
2.109
|
4.005 |
3.263 |
|
|
Provisions |
1.737
|
0.728 |
0.876 |
|
Total
Current Liabilities |
8.643
|
12.767 |
7.582 |
|
|
Net Current Assets |
169.285
|
165.769 |
165.598 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
173.270 |
169.399 |
169.157 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
314.122 |
741.227 |
621.905 |
|
|
|
Other Income |
2.580 |
0.123 |
0.528 |
|
|
|
TOTAL (A) |
316.702 |
741.350 |
622.433 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases and Purchases Expenses |
285.460 |
698.390 |
|
|
|
|
Employee Cost |
2.078 |
1.724 |
|
|
|
|
Administrative, Selling and Distribution Expenses |
5.650 |
6.800 |
|
|
|
|
Increases/(Decrease) in Stock |
2.431 |
12.668 |
|
|
|
|
TOTAL (B) |
295.619 |
719.582 |
605.851 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
21.083 |
21.768 |
16.582 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
14.152 |
16.080 |
12.943 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
6.931 |
5.688 |
3.639 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.469 |
0.416 |
0.430 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
6.462 |
5.272 |
3.209 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
2.225 |
1.559 |
1.113 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
4.237 |
3.713 |
2.096 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
9.096 |
5.883 |
4.087 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
0.500 |
0.300 |
|
|
BALANCE CARRIED
TO THE B/S |
13.333 |
9.096 |
5.883 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.37 |
1.21 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.34 |
0.50 |
0.34 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.06 |
0.71 |
0.52 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.55 |
2.89 |
1.82 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.11 |
0.10 |
0.06 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.96 |
2.40 |
2.54 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
20.59 |
13.98 |
22.84 |
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry
Creditors:
(Rs. in Millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors |
|
|
|
|
Sundry Creditors for goods and Expenditure |
4.797
|
8.034 |
3.443 |
|
|
|
|
|
|
Total |
4.797
|
8.034 |
3.443 |
|
Sr. No. |
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 |
No |
|
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 |
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 (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 |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
Note:
The Registered Office of the company has been shifted from 405/406
Atlanta Complex, Gulbai Tekra, Ambawadi, Near Panchvati Cross Road, Ahmedabad
- 380009, Gujarat, India to the present
address w.e.f. 31.03.2012
FINANCIAL RESULTS:
During the year the Company has earned a profit of Rs. 4.237 Millions as compared to profit of Rs. 3.713 Millions for the previous year.
Bankers Charges
Report as per Registry
|
Corporate identity
number (CIN) or foreign company registration
number of the company |
U23209GJ2001PLC039959 |
|
Name of the
company |
GUJARAT PICKERS
INDUSTRIES LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
404/405 Atlanta Complex, Gulbai Tekra, Ambawadi, Near Panchvati Cross
Road, Ahmedabad - 380009, Gujarat,
India E-mail: vineshjani@rediffmail.com
|
|
This form is for |
Modification
of charge |
|
Charge identification
(ID) number of the charge to be modified |
10104831 |
|
Type of charge |
Immovable
property |
|
Particular of
charge holder |
Bank of Baroda, Branch 3, Satyavadi Society, Usmanpura, Ahmedabad -
380013, Gujarat, India E-mail: usmanp@bankofbaroda.com
|
|
Nature of
instrument creating charge |
Instrument of
Extension relating to deposit of Title Deeds. |
|
Date of
instrument Creating the charge |
20.12.2011 |
|
Amount secured by
the charge |
Rs.300.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest 1 .Cash Credit
(hypo of Stock and Book debts)- ROI @3.5 %above Base Rate i.e.14.25%
(Concession of 2.00%) 2. Bank Guarantee
concessional commission: Performance @ 0.083% p.m and Financial @ 0.125% p.m. Terms of
Repayment On demand. Margin 1. Cash credit
facility - 25% on stocks and 20% for Book debts up to 90 days. 2. Foreign bank guarantee-
Cash margin @10% uniform for all performance BG; Cash margin @10% for all
mobilization/advance payment BG; Cash margin @100% for all guarantees for
disputed Excise duty/sales tax / income tax dues, etc. Extent and
Operation of the charge To covert entire
credit facilities granted by the Bank |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
All those office
no. 404 adm. 152 sq. mtrs. and office no. 405 adm. 152 sq. mtrs. both on 4th
Floor of 'Atlanta Tower' of Shivalika Vihar Owners Association, Samrath O Owners
Association situated on the land bearing Final Plot No. 623 of town Planning
Scheme No. 3/6 (varied) Sub-Plot No. 14/A and 14/B, situated lying and being
at Village: Kocharab, Taluka: City of Registration, District: Ahmedabad and
Sub-District Ahmedabad (4) paldi and the said office No. 404 and office No.
405. All those office
no. 302 adm. 836 sq. feet i.e. 77.66 sq. mtrs. together with undivided land
adm. 25.32 sq. mtrs and office no. 304 adm. 218.50 sq. feet i.e. 20.30 sq.
mtrs. together with undivided land admeasuring about 06.58 sq. mtrs. both on
third floor in the building known as N. R. House situated on the land bearing
sub plot no. 3 (varied) situate lying being at Village Shailhpur-Khanpur,
Taluka: City of registration District: Ahmedabad and Sub-District Ahmedabad
(3) Memnagar and the said office no. 302 and office no. 304. |
|
Date of
instrument modifying the charge |
28.02.2011 |
|
Particulars of the
present modification |
By this
modification Bank has agreed to enhance the CC limit from Rs. 200.000
Millions to 215.000 Millions, Foreign bank guarantee limit from 70.000
Millions to 85.00 Millions and thereby the overall limit of this charge
increased to Rs. 270.00 Millions to Rs. 300.000 Millions. The entire break up
of the facilities granted are mentioned as under: 1. CC
(Hypothecation of Stock cum BD) cum PC Cum FBP/FBD : 215.000 Millions 2. Inland /
Foreign Bank Guarantee (Performance/Financial) : 85.000 Millions |
FIXED ASSETS:
· Building
· Furniture and Fixtures
· Machinery
· Office Equipments
· Motor Car
· Scooter
· Computer
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 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 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.54.12 |
|
|
1 |
Rs.87.08 |
|
Euro |
1 |
Rs.70.15 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
28 |
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.