MIRA
INFORM REPORT
|
Report Date : |
10.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
INDEPESCA OVERSEAS PRIVATE LIMITED (w.e.f. 21.12.2004) |
|
|
|
|
Formerly Known
As : |
SAGARVIHAR FISHERIES PRIVATE LIMITED |
|
|
|
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Registered
Office : |
M-03, MIDC, Taloja, District Raigad – 410208, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
04.03.2004 |
|
|
|
|
Com. Reg. No.: |
11-144847 |
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|
|
Capital
Investment / Paid-up Capital : |
Rs.170.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U05005MH2004PTC144847 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS42591D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAICS1304G |
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|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Exporter and Processor of Fish and Fish Products |
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|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (36) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 2400000 |
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|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. There appears
dip in the sales turnover of the company during 2011. Profitability also
appears to be low. However, trade relations are reported as fair. Business is active.
Payments are reported to be slow but correct. The company can be considered for business dealings with some
caution. |
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 |
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. Pravin |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-22-67841790 |
|
Date : |
09.11.2012 |
LOCATIONS
|
Registered Office/Factory : |
M-03, MIDC, Taloja, District Raigad – 410208, |
|
Tel. No.: |
91-22-27410414/ 27402005/ 64552222 |
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Fax No.: |
91-22-27410984/ 27410984 |
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E-Mail : |
|
|
Website : |
DIRECTORS
As on 27.09.2011
|
Name : |
Mr. Ashvin Mohanlal Samtani |
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Designation : |
Director |
|
Address : |
11-N, Shamshiba, |
|
Date of Birth/Age : |
23.05.1954 |
|
Date of Appointment : |
01.06.2004 |
|
DIN No.: |
00264281 |
|
|
|
|
Name : |
Mr. Raju Mohanlal Samtani |
|
Designation : |
Director |
|
Address : |
C-1, Emly Apartments, |
|
Date of Birth/Age : |
23.04.1959 |
|
Date of Appointment : |
04.03.2004 |
|
DIN No.: |
01951386 |
|
|
|
|
Name : |
Mr. Praveen Kumar Balbheen Rao |
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Designation : |
Director |
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Address : |
Flat No. 703, Raheja Classique, Building No. 3, Link Road, Oshiwara,
Andheri (West), Mumbai-400053, Maharashtra, India |
|
Date of Birth/Age : |
13.04.1955 |
|
Date of Appointment : |
09.08.2005 |
|
DIN No.: |
02076376 |
KEY EXECUTIVES
|
Name : |
Mrs. Pavitra Ajit Mehta |
|
Designation : |
Secretary |
|
Address : |
7A, Shri0Niketan, 61-B, North Avenue, Santacruz, Mumbai – 400054,
Maharashtra, India |
|
Date of Birth/Age : |
18.03.1984 |
|
Date of Appointment : |
29.03.2010 |
|
Pan No. : |
AQXPM8687Q |
|
|
|
|
Name : |
Mr. Pravin |
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Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 27.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Ashvin Mohanlal Samtani |
|
16608000 |
|
Gaurav Ashvin Samtani |
|
196000 |
|
Lavin Ashvin Samtani |
|
196000 |
|
Total |
|
17000000 |
As on 27.09.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Exporter and Processor of Fish and Fish Products |
||||||||||
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Products : |
·
Fish ·
Shrimps and Lobsters ·
Squid and Cuttlefish ·
Value added products ·
Surimi
|
PRODUCTION STATUS (As on 31.03.2011)
|
Particulars |
Unit |
Actual
Production |
|
Processed fish |
Kgs. |
4091019 |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
||||||||||||||||||||||||
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Bankers : |
·
Indian Bank, Vile Parle Branch, 325, Gitanjali
Building, 1st Floor, Nehru Road, Vile Parle (East), Mumbai-400057,
Maharashtra, India ·
HDFC Bank Limited, HDFC Bank House, Senapati
Bapat Marg, Lower Parel (West), Mumbai - 400013, Maharashtra, India ·
ABN Amro Bank NV ·
ICICI Bank Limited ·
Bank of India |
||||||||||||||||||||||||
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
K R Raheja and Company Chartered Accountants |
|
Address : |
103, Commerce House, |
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Tel. No.: |
91-22-26001122/ 26001133/ 26496104 |
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Fax No.: |
91-22-26044425 |
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E-Mail : |
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PAN.: |
ADQPR8580H |
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|
|
Associates : |
· Triton Management Services Private Limited CIN No. U72200MH2004PTC145988 · Big Sam Snacks And Foods Private Limited CIN No.: U15201MH2009PTC190221 · Indepesca Aquaculture Private Limited CIN No.: U05000MH2009PTC189686 · Triton Cold Chain And Logistics Services Private Limited CIN No.: U63020MH2010PTC206681 |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
Rs. 10/- each |
Rs.200.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
17000000 |
Equity Shares |
Rs. 10/- each |
Rs.170.000 Millions |
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|
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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 |
170.000 |
170.000 |
20.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
454.808 |
1.540 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
(0.955) |
|
|
NETWORTH |
624.808 |
171.540 |
19.045 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
292.193 |
346.007 |
319.835 |
|
|
2] Unsecured Loans |
101.238 |
74.360 |
134.256 |
|
|
TOTAL BORROWING |
393.431 |
420.367 |
454.091 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
FOREIGN CURRENCY TRANSLATION DIFFERENCE |
0.000 |
1.027 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1018.239 |
592.934 |
473.136 |
|
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|
|
|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
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FIXED ASSETS [Net Block] |
578.921 |
137.462 |
162.770 |
|
|
Capital work-in-progress |
29.751 |
7.459 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
2.042 |
2.494 |
3.753 |
|
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
354.608 |
277.582 |
156.138 |
|
|
Sundry Debtors |
53.253 |
63.834 |
44.763 |
|
|
Cash & Bank Balances |
1.260 |
2.289 |
7.154 |
|
|
Other Current Assets |
15.703 |
91.266 |
72.807 |
|
|
Loans & Advances |
127.093 |
115.564 |
70.391 |
|
|
Total
Current Assets |
551.917 |
550.535 |
351.253 |
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
67.944 |
105.140 |
55.405 |
|
|
Current Liabilities |
36.900 |
0.796 |
5.379 |
|
|
Provisions |
3.548 |
1.279 |
4.426 |
|
|
Total
Current Liabilities |
144.392 |
107.215 |
65.210 |
|
NET CURRENT ASSETS |
407.525 |
443.320 |
286.043 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
2.199 |
13.386 |
|
|
FOREIGN CURRENCY TRANSLATION DIFFERENCE |
0.000 |
0.000 |
7.184 |
|
|
|
|
|
|
|
|
TOTAL |
1018.239 |
592.934 |
473.136 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Turnover |
517.918 |
831.858 |
1163.316 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
NA |
867.733 |
NA |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
867.733 |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
16.847 |
17.576 |
15.477 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
12.406 |
15.734 |
20.130 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
4.441 |
1.842 |
(4.653) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1.276 |
(0.653) |
(0.015) |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
3.165 |
2.495 |
(4.638) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1.540 |
(0.955) |
3.683 |
|
|
|
|
|
|
|
|
|
|
BALANCE / (LOSS)
CARRIED TO THE B/S |
4.705 |
1.540 |
(0.955) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
414.585 |
692.684 |
986.377 |
|
|
|
|
|
|
|
|
|
|
IMPORTS Value |
1.293 |
7.495 |
6.190 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.19 |
0.15 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Net Profit Margin (PBT/Sales) |
(%) |
0.86
|
0.22 |
(0.40) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.39
|
0.26 |
(0.90) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.01
|
0.01 |
(0.24) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.86
|
3.08 |
27.26 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.82
|
5.13 |
5.38 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
Rs.
In Millions
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Creditors due others |
67.944 |
105.140 |
55.405 |
|
Total |
67.944 |
105.140 |
55.405 |
|
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 |
Yes |
|
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 |
No |
Note:
The registered office of the company has been shifted from 9 Prashant, 5B, Nargis Dutt Road, Bandra, Mumbai – 400050, Maharashtra, India to present address w.e.f. 31.05.2011
OPERATIONS
During the year under consideration, the Company has achieved a turnover of Rs. 517.918 Millions which is lower than previous year’s turnover by Rs. 313.940 Millions which is mainly due to the full year’s impact of closure of operations in Gujarat. The Company has achieved a Net Profit after Tax of Rs.3.165 Millions as compared to Rs. 2.495 Millions in the previous year.
CONTINGENT
LIABILITIES NOT PROVIDED FOR IN RESPECT OF (As on 31.03.2011)
(i) Foreign bills discounted and outstanding to Rs. 3.732 Millions
(ii) Bank guarantees given by the Company and outstanding to Rs. 2.590 Millions
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U05005MH2004PTC144847 |
|
Name of the
company |
INDEPESCA OVERSEAS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
M-03, MIDC, Taloja, District Raigad – 410208, Maharashtra, India |
|
This form is for |
Modification of
charge |
|
Charge
identification (ID) number of the charge to be modified |
10032242 |
|
Type of charge |
·
Immovable
property ·
Book
debts ·
Movable
property (not being pledge) ·
Others
(Current and Fixed Assets) |
|
Particular of
charge holder |
Indian Bank, Vile Parle Branch, 325, Gitanjali Building, 1st
Floor, Nehru Road, Vile Parle (East), Mumbai-400057, Maharashtra, India Email: info@ca-adlalwani.com |
|
Nature of
instrument creating charge |
1.No Instrument
-HDFC Bank Letter Attached For Modifying Charge For Current Assets As
Paripassu Charge |
|
Date of
instrument Creating the charge |
20.09.2010 |
|
Amount secured by
the charge |
Rs. 255.500
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest As Stipualted By
Bank From Time To Time Terms of repayment As Stipualted By
Bank From Time To Time Margin As Stipualted By Bank
From Time To Time Extent and operation of the charge First Charge
(Present And Future) = Total Limit Of Rs.255.500 millions (MTL = Rs.95.500
millions, FBN/(DP/DA) = Rs.20.000 millions (Sub Limit
(FBP-DP) = Rs.4.000 millions) PC = Rs.140.000
millions) Other As stiuplated by
bank from time to time and as per agreement attached and as per sanction
letter of the bank |
|
Short particulars
of the property charged (Including location of the property) |
First paripassu
charge(present and future on securities mentiond in point no 1 and 2) (1)
Hypothecation of all type of stock /
goods / products / inventories including brought under l.c. and p.c. kept at
borrower premises orin transit or anywhere else (2)
Hypothecation of all book debts and
receivables inc. Export documentary bills First charge (3)
Hypothecation of all fixed .movable,
current assets ,plant and machinery etc and all assets purchased out of bank
finance. (4) Emg of
factory land and building at Plot No.M-3, at Taloja Industrial Area, Village
Limits Of Pale-Khurd and Panvel (T.K.),Raigad, District With constructed or
to be constructed |
|
Particulars of
the present modification |
By This
Modification Limit Remain Same Rs.255.500 Millions ,The Charge Has Been
Modified As First Paripassu Charge on Current Assets With HDFC Bank and
Exclusive First Charge on Fixed Assets
and Mortgage of Property for Indian Bank, Vile Parle Branch |
FIXED ASSETS:
·
A.C
·
Bicycle
·
Cold Room Renovation
·
Computer and Accessories
·
Crates and Tray etc.
·
Electrical Refurbishing
·
Electrical Fittings
·
·
·
Generator Set
·
Land Taloja
·
Plant and Machinery
Taloja
·
Freezing Tray
·
Furniture and Fixture
·
Machinery and Equipments
·
Machinery Refurbishing
·
Motor Car
·
New Condenser
·
Office Equipments
·
Plato Plast Machinery
·
Office Equipments
·
Telephone Equipments
·
Weighing Scales
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 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.54.34 |
|
|
1 |
Rs.86.97 |
|
Euro |
1 |
Rs.69.43 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
36 |
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.