MIRA
INFORM REPORT
|
Report Date : |
23.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
MITSU CHEM PRIVATE LIMITED |
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Registered
Office : |
329, Gala Complex, 3rd Floor, Din Dayal Upadhyay Marg,
Mulund (West) Mumbai-400080, |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
23.09.1988 |
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Com. Reg. No.: |
11-048925 |
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Capital
Investment / Paid-up Capital : |
Rs. 19.600 millions |
|
|
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CIN No.: [Company Identification
No.] |
U24110MH1988PTC048925 |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM22665G |
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PAN No.: [Permanent Account No.] |
AAACM0641G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Plastic Container, Injection Moulding. |
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No. of Employees
: |
175 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (39) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 253000 |
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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. The company
has recorded huge external borrowings which exceeds the net worth. However, trade relations are reported as fair. Business is active.
Payments terms are 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.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
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 |
ICRA |
|
Rating |
A4 (Suspended) [Short term non fund based limit] |
|
Rating Explanation |
Minimal degree of safety and very high credit risk |
|
Date |
19.06.2012 |
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.
LOCATIONS
|
Registered Office : |
329, Gala Complex, 3rd Floor, Din Dayal Upadhyay Marg,
Mulund (West) Mumbai-400080, Maharashtra, India |
|
Tel. No.: |
91-22-25920055 |
|
Fax No.: |
91-22-25920077 |
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E-Mail : |
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Website : |
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Factory 1 : |
N-83/ 84, M.I.D.C., Kumbhavali Naka, Tarapur, Boisar, Dist. Thane -
401506, Maharashtra, India |
|
Tel. No.: |
91-2525-273088 |
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Fax No.: |
91-2525-278361 |
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E-Mail : |
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Factory 2 : |
Plot No. J-237 M.I.D.C.,
Tarapur, Boisar, District Thane - 401506, Maharashtra, India |
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Tel. No.: |
91-2525-260055 |
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Fax No.: |
91-2525-260099 |
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Factory 3 : |
Khasra No. 60/4, Rungta Industries Compound, Kashipur Road,
Rudrapur-263153, U.S Nagar, Uttarakhand, India. |
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E-Mail : |
DIRECTORS
As on 24.09.2012
|
Name : |
Mr. Manish Mavji Dedhia |
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Designation : |
Director |
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Address : |
A/ 1501, Runwal Pride, L.B.S. Marg, Mulund (West), Mumbai – 400080,
Maharashtra, India |
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Date of Appointment : |
01.04.1997 |
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DIN No.: |
01552841 |
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Other Directorship:
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Name : |
Mr. Sanjay Mavji Dedhia |
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Designation : |
Director |
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Address : |
402, Ashirwad, P.K. Road, Mulund (West), Mumbai – 400080, Maharashtra,
India |
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Date of Appointment : |
15.07.1993 |
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DIN No.: |
01552883 |
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Other Directorship:
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Name : |
Mr. Jagdish Liladhar Dedhia |
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Designation : |
Director |
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|
Address : |
Jalaram Park, B/ 905 and 906, L.B.S. Marg, Sonapur, Bhandup (West),
Mumbai – 400078, Maharashtra, India |
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Date of Appointment : |
12.04.1990 |
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DIN No.: |
01639945 |
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Other Directorship:
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Name : |
Mr. Liladhar Virji Dedhia |
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Designation : |
Director |
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Address : |
Jalaram Park, B/ 905 and 906, L.B.S. Marg, Sonapur, Bhandup (West),
Mumbai – 400078, Maharashtra, India |
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Date of Appointment : |
15.07.1993 |
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DIN No.: |
02246055 |
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Other Directorship:
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 24.09.2012
|
Names of Shareholders |
|
No. of Equity
Shares |
|
Jagdish Liladhar Dedhia |
|
20610 |
|
Liladhar Virji Dedhia |
|
15900 |
|
Sanjay Mavji Dedhia |
|
20700 |
|
Manish Mavji Dedhia |
|
20696 |
|
Vimlaben Liladhar Dedhia |
|
5100 |
|
Lilavati Mavji Dedhia |
|
21000 |
|
Ameeta Jagdish Dedhia |
|
390 |
|
Jigna Sanjay Dedhia |
|
300 |
|
Jalpa Manish Dedhia |
|
300 |
|
Hemant Hansraj Maru |
|
7400 |
|
Hemant Hansraj Maru (HUF) |
|
600 |
|
Hansraj Hemraj Maru |
|
6000 |
|
Sakarben Hansraj Maru |
|
200 |
|
Hansraj Hemaraj Maru (HUF) |
|
1800 |
|
Manish Mavji Dedhia Jointly with Mr.
Vikrant Gogri Jointly with Mrs. Kala Vikrant Gogri |
|
01 |
|
Manish Mavji Dedhia Jointly with Ms. Zaverben
Ravji Chheda Jointly with Mr. Manish Rasiklal Shah |
|
01 |
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Manish Mavji Dedhia Jointly with Mrs.
Rajul Shantilal Gala with Mr. Shantilal Gangi Gala |
|
02 |
|
Total |
|
121000 |
|
Names of Shareholders |
|
No. of
Preference Shares |
|
Hemant Hansraj Maru |
|
23000 |
|
Hemant Hansraj Maru (HUF) |
|
7500 |
|
Hansraj Hemraj Maru |
|
40000 |
|
Sakarben Hansraj Maru |
|
4000 |
|
Hansraj Hemaraj Maru (HUF) |
|
500 |
|
Total |
|
75000 |
Equity Share Break up (Percentage of Total Equity)
As on 24.09.2012
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Plastic Container, Injection Moulding. |
GENERAL INFORMATION
|
No. of Employees : |
175 (Approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Financial Institution: |
L and T Finance Limited Reliance Capital Limited TATA Capital limited TATA motors Finance Limited |
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Auditors : |
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Name : |
V.J. Shah and Company Chartered Accountants |
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Address : |
19/ 21, |
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Tel. No.: |
91-22-40966263 / 22666363 |
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Fax No.: |
91-22-22665955 |
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E-Mail : |
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PAN No.: |
AAAFV0230F |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
225000 |
Equity Shares |
Rs.100/- each |
Rs. 22.500 Millions |
|
75000 |
Preference Shares |
Rs.100/- each |
Rs. 7.500 Millions |
|
|
Total |
|
Rs. 30.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
121000 |
Equity Shares |
Rs.100/- each |
Rs. 12.100 Millions |
|
75000 |
Preference Shares |
Rs.100/- each |
Rs. 7.500 Millions |
|
|
Total |
|
Rs. 19.600
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
19.600 |
19.600 |
19.600 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
43.858 |
32.879 |
22.746 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
63.458 |
52.479 |
42.346 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
144.733 |
135.950 |
114.460 |
|
|
2] Unsecured Loans |
54.250 |
38.936 |
29.481 |
|
|
TOTAL BORROWING |
198.983 |
174.886 |
143.941 |
|
|
DEFERRED TAX LIABILITIES |
12.054 |
9.847 |
7.425 |
|
|
|
|
|
|
|
|
TOTAL |
274.495 |
237.212 |
193.712 |
|
|
|
|
|
|
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|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
150.617 |
111.421 |
92.996 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.629 |
0.500 |
0.622 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
42.136
|
54.145 |
49.544 |
|
|
Sundry Debtors |
90.460
|
78.555 |
61.094 |
|
|
Cash & Bank Balances |
2.280
|
0.285 |
0.270 |
|
|
Other Current Assets |
1.495
|
5.189 |
0.000 |
|
|
Loans & Advances |
16.155
|
10.856 |
12.578 |
|
Total
Current Assets |
152.526
|
149.030 |
123.486 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
9.867
|
8.397 |
10.165 |
|
|
Other Current Liabilities |
8.915
|
5.148 |
6.203 |
|
|
Provisions |
10.495
|
10.194 |
7.024 |
|
Total
Current Liabilities |
29.277
|
23.739 |
23.392 |
|
|
Net Current Assets |
123.249
|
125.291 |
100.094 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
274.495 |
237.212 |
193.712 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
519.233 |
424.648 |
338.630 |
|
|
|
Other Income |
5.013 |
0.777 |
1.700 |
|
|
|
TOTAL (A) |
524.246 |
425.425 |
340.330 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Raw Materials and Packing materials consumed |
340.502 |
|
327.156 (Including
Depreciation and Financial Expenses) |
|
|
|
Changes in inventories of finished goods, work-in- progress and stock
in trade |
(6.209) |
3.457 |
|
|
|
|
Employees Benefit cost |
12.388 |
11.204 |
|
|
|
|
Manufacturing Expenses |
101.123 |
73.941 |
|
|
|
|
Selling and Distribution Expenses |
12.892 |
11.645 |
|
|
|
|
Administrative Expenses |
9.324 |
8.518 |
|
|
|
|
Exceptional Items |
0.037 |
(0.212) |
|
|
|
|
TOTAL (B) |
470.057 |
380.530 |
|
|
|
|
|
|
||
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
54.189 |
44.895 |
||
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES (D) |
25.598 |
18.952 |
||
|
|
|
|
|
||
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
28.591 |
25.943 |
||
|
|
|
|
|
||
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
9.154 |
7.340 |
||
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
19.437 |
18.603 |
13.174 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
6.432 |
6.423 |
2.550 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
13.005 |
12.180 |
10.624 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
|
214.800 |
0.113 |
(0.218) |
|
|
|
Sales value of Exports |
|
0.175 |
0.168 |
|
|
TOTAL EARNINGS |
214.800 |
0.288 |
0.050 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Purchase value of Imports |
NA |
6.612 |
12.696 |
|
|
TOTAL IMPORTS |
NA |
6.612 |
12.696 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
107.00 |
101.00 |
81.60 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
2.48
|
2.86 |
3.12 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.74
|
4.38 |
3.89 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.41
|
7.14 |
6.09 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Net worth) |
|
0.31
|
0.35 |
0.31 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Net worth) |
|
3.60
|
3.78 |
3.95
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
5.21
|
6.28 |
5.28 |
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 |
No |
|
5] |
Type of
Business |
Yes |
|
6] |
Line of
Business |
Yes |
|
7] |
Promoter's
background |
Yes |
|
8] |
No. of
employees |
Yes |
|
9] |
Name of
person contacted |
Yes |
|
10] |
Designation
of contact person |
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 (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 229, Gala Complex, 2nd floor Din Dayal
Upadhyay Marg, Mulund (West), Mumbai-400080, Maharashtra, India to the present
address w.e.f. 31.07.2012
OPERATIONS REVIEW
AND OUTLOOK
The company is trying hard for the progress of the company
PERFORMANCE DURING
THE CURRENT YEAR
The director expects to achieve better performance during the current
year.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity number of the company |
U24110MH1988PTC048925 |
|
Name of the company |
MITSU CHEM PRIVATE LIMITED |
|
Address of the registered office or of the principal place of business in India of the company |
29, Gala Complex, 3rd Floor, Din Dayal Upadhyay Marg,
Mulund (West) Mumbai-400080, Maharashtra, India Email: manish@mitsuchem.com |
|
This form is for |
Creation of charge |
|
Type of charge |
Book debts Movable property (not being pledge) |
|
Particular of charge holder |
Union Bank of India, Sai Arcade, N.S. Road, Mulund West, Mumbai -
400080, Maharashtra, India |
|
Nature of instrument creating charge |
Hypothecation Agreement of Goods and Debts (SD 06). |
|
Date of instrument Creating the charge |
23.08.2012 |
|
Amount secured by the charge |
Rs. 20.000 millions |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
Rate of Interest At 17%p.a. with monthly rests or at such revised rates as may be
prescribed by the Bank from time to time
i.e. at Base rate + 6.50%. Terms of Repayment As specified in the Agreement. Margin 1. 25% on Stock 2. 40% on Book Debts Extent and Operation of the charge The Company has availed the Adhoc Limit upto Rs. 2 Cr. for 90 days and
the said charge has been created on entire Book Debts and Stock of the
Finished Goods of plastic products, Raw materials and Plant and Machineries. |
|
Short particulars of the property or asset(s) charged (including
complete address and location of the property) |
Hypothecation of Stock and Book debts, Plant and Machineries as per
Agreement. |
FIXED ASSETS:
- Air
Conditioner
- Computer and
Printer
- Electrical
Installation
- Furniture and
Fixtures
- Land
- Vehicles
- Moulds
- Office
Equipments
- Office Premises
- Patents
- Plant and
Machinery
- Residential
Flat
- Trade Mark
- Building
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.55.16 |
|
|
1 |
Rs.88.03 |
|
Euro |
1 |
Rs.70.86 |
INFORMATION DETAILS
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
39 |
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.