MIRA
INFORM REPORT
|
Report Date : |
08.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
SURAT EXIM PRIVATE LIMITED |
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|
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Registered
Office : |
2030, Jash Textile Market, Near Shara Darwaja, Ring Road,
Surat-395002, Gujarat |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
03.05.2001 |
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Com. Reg. No.: |
04-039500 |
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Capital Investment
/ Paid-up Capital : |
Rs. 0.500 Million |
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CIN No.: [Company Identification
No.] |
U17118GJ2001PTC039500 |
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|
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader, Exporter and Importer of Solar Products and Equipments, Metal
Products Energy Products etc. |
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|
No. of Employees
: |
5 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 3000 |
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|
Status : |
Small Company |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively small company in its field. It’s scale of
activities are limited. 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.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
|
Source
: CIA |
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 PARTED BY
|
Name : |
Mr. Surendra Verma |
|
Designation : |
Chief Executive Officer |
|
Contact No.: |
91-9227455399 |
|
Date : |
06.11.2012 |
LOCATIONS
|
Registered Office : |
2030, Jash Textile Market, Near Shara Darwaja, Ring Road, Surat-395002,
Gujarat, India |
|
Tel. No.: |
91-261-2336667 |
|
Mobile No.: |
91-9227455399 (Mr. Surendra Verma) |
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Fax No.: |
91-261-2336667 |
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E-Mail : |
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Website : |
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|
Area : |
500 Sq. Ft. |
|
Location : |
Owned |
DIRECTORS
AS ON 26.09.2011
|
Name : |
Mr. Banarsidevi Banwarilal Verma |
|
Designation : |
Director |
|
Address : |
C/402, Amrut Kunj, Bhatar Road, Surat-395001, Gujarat, India |
|
Date of Appointment : |
06.12.2004 |
|
DIN No.: |
01350075 |
|
|
|
|
Name : |
Ms. Sushila Verma |
|
Designation : |
Director |
|
Address : |
C/502, Amrut Kunj, Bhatar Road, Surat-395001, Gujarat, India |
|
Date of Appointment : |
25.06.2008 |
|
DIN No.: |
02216834 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U17118GJ2001PTC039500 |
SURAT
EXIM PRIVATE LIMITED |
Director |
25/06/2008 |
25/06/2008 |
Active |
NO |
|
2 |
U67120GJ1995PTC027934 |
GHODELA
CORPORATE SERVICES PRIVATE LIMITED |
Director |
25/06/2008 |
25/06/2008 |
Active |
NO |
|
Name : |
Mr. Shrey Surendra Verma |
|
Designation : |
Director |
|
Address : |
C/502, Amrut Kunj, Bhatar Road, Surat-395001, Gujarat, India |
|
Date of Appointment : |
16.04.2010 |
|
DIN No.: |
03031931 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U17118GJ2001PTC039500 |
SURAT
EXIM PRIVATE LIMITED |
Director |
16/04/2010 |
16/04/2010 |
Active |
NO |
|
2 |
U67120GJ1995PTC027934 |
GHODELA
CORPORATE SERVICES PRIVATE LIMITED |
Director |
01/06/2010 |
01/06/2010 |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Mr. Surendra Verma |
|
Designation : |
Chief Executive Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 26.09.2011
|
Names of Shareholders |
No. of Shares |
|
Banarsidevi Banwarilal Verma |
6100 |
|
Sushila Verma |
5000 |
|
Kusumlata Malvia |
2500 |
|
Padmaben Malvia |
2500 |
|
Sunil H Kumawat |
1000 |
|
Atma Ramji Malvia |
2500 |
|
Ramesh Chandra Verma |
3000 |
|
Rajesh R Verma |
3000 |
|
Ram Charan Verma |
2500 |
|
Preeti Rathod |
2800 |
|
Pushpa Devi Verma |
3500 |
|
Vimala Ra Verma |
2500 |
|
Vinod Chejara |
1900 |
|
Ghodeja Corporate Service Private Limited, India |
11200 |
|
TOTAL
|
50000 |
AS ON 26.09.2011
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Bodies corporate |
22.40 |
|
Directors or relatives of Directors |
51.20 |
|
Others |
26.40 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader, Exporter and Importer of Solar Products and Equipments, Metal
Products Energy Products etc. |
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Exports : |
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Countries : |
·
Africa ·
Dubai ·
USA |
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Imports : |
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Countries : |
·
China ·
Dubai ·
Europe ·
South Africa |
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Terms : |
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Selling : |
Cash, Credit |
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Purchasing : |
Cash, Credit |
GENERAL INFORMATION
|
Suppliers : |
·
Garden Silk Mill Private Limited |
||||||||||||
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||||||||||||
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Customers : |
End Users ·
Super Fine Syntex Limited ·
Laural Apparels Private Limited ·
Euro Oversea ·
Ghodela Corporation Services Private Limited |
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No. of Employees : |
5 (Approximately) |
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Bankers : |
·
Oriental Bank of Commerce ·
State Bank of India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
P C Choudhary and Associates Chartered Accountant |
|
Address : |
2047, Jash Textile Market, Ring Road, Surat-395002, Gujarat, India |
|
PAN No.: |
AAEFP6189P |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000 |
Equity Shares |
Rs.10/- each |
Rs. 2.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
50000 |
Equity Shares |
Rs.10/- each |
Rs. 0.500
Million |
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|
|
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 |
0.500 |
0.500 |
0.500 |
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|
2] Share Application Money |
0.381 |
0.500 |
0.494 |
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|
3] Reserves & Surplus |
0.067 |
0.025 |
0.011 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
0.948 |
1.025 |
1.005 |
|
|
LOAN FUNDS |
|
|
|
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|
1] Secured Loans |
0.129 |
0.221 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.129 |
0.221 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.006 |
0.006 |
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|
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|
|
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TOTAL |
1.077 |
1.252 |
1.011 |
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|
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APPLICATION OF FUNDS |
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|
FIXED ASSETS [Net Block] |
0.991 |
1.104 |
0.834 |
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|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
3.202
|
1.491 |
25.780 |
|
|
Sundry Debtors |
0.111
|
0.297 |
0.534 |
|
|
Cash & Bank Balances |
0.214
|
0.146 |
0.204 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
7.309
|
16.110 |
0.272 |
|
Total
Current Assets |
10.836
|
18.044 |
26.790 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
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|
|
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Other Current Liabilities |
|
|
|
|
|
Provisions |
0.032
|
0.000 |
0.000 |
|
Total
Current Liabilities |
10.750
|
17.898 |
26.619 |
|
|
Net Current Assets |
0.086
|
0.146 |
0.171 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.002 |
0.006 |
|
|
|
|
|
|
|
|
TOTAL |
1.077 |
1.252 |
1.011 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
3.004 |
21.743 |
5.350 |
|
|
|
Other Income |
0.642 |
0.929 |
0.968 |
|
|
|
TOTAL |
3.646 |
22.672 |
6.318 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases |
4.605 |
0.000 |
30.811 |
|
|
|
Administrative Expenses |
0.797 |
0.810 |
0.683 |
|
|
|
Preliminary Expenses W/Off |
0.003 |
0.003 |
0.003 |
|
|
|
Increase / Decrease in Inventories |
(1.939) |
21.743 |
(25.244) |
|
|
|
TOTAL |
3.466 |
22.556 |
6.253 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
0.180 |
0.116 |
0.065 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.113 |
0.085 |
0.045 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
0.067 |
0.031 |
0.020 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.025 |
0.017 |
0.015 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
0.042 |
0.014 |
0.005 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
0.042 |
0.014 |
0.005 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.84 |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.15
|
0.06 |
0.08 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.23
|
0.14 |
0.37 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.57
|
0.16 |
0.07 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07
|
0.03 |
1.99 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
11.48
|
17.68 |
26.49 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.01
|
1.01 |
1.01 |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
Yes |
|
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 |
|
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 |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
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 |
No |
|
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 |
No |
FINANCIAL RESULT
After providing all expenses and Income Tax the net Profit is Rs. 0.042
million (Previous year Profit of Rs. 0.014 Million)
OPERATIONS
In view of the Directors the company is doing well in achieving its
targets and has tried well to obtain better performance although there is
marginal Profit. In order to increase the income has given its spare space on
rent to another units.
TRADE REFERENCES
· Garden Silk Mill Private Limited
· Super Fine Syntex Limited
FIXED ASSETS
·
Land
·
Factory Building
·
Machinery
·
Printer
·
Vehicles
·
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. 54.25 |
|
|
1 |
Rs. 87.00 |
|
Euro |
1 |
Rs. 69.83 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
27 |
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.