MIRA INFORM REPORT

 

 

Report Date :

26.11.2012

 

IDENTIFICATION DETAILS

 

Name :

GRAND ORGANICS PRIVATE LIMITED

 

 

Registered Office :

Plot No.D-2/26, Bicholim Industrial Estate, Bicholim - 403529, Goa

 

 

Country :

India

 

 

Financials (as on) :

31.03.2012

 

 

Date of Incorporation :

19.04.1994

 

 

Com. Reg. No.:

24-001573

 

 

Paid-up Capital :

Rs. 30.000 Millions

 

 

CIN No.:

[Company Identification No.]

U24119GA1994PTC001573

 

 

IEC No.:

1795000660

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

BLRG03681G

 

 

PAN No.:

[Permanent Account No.]

AABCG0794K

 

 

Legal Form :

Private Limited Liability Company 

 

 

Line of Business :

Manufacturer and Trader of Chemicals

 

 

No. of Employees :

200 (Approximately) (In Office + In Factory)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (45)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

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

 

Satisfactory

 

Maximum Credit Limit :

USD 560000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having satisfactory track. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct and as per commitments.

 

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

 

 

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

 

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 PARTED BY

 

Name :

Mr. Uttam K. Parab

Designation :

Account Executive

Contact No.:

91-9822125358

Date :

23.11.2012

 

 

LOCATIONS

 

Registered Office/ Factory :

Plot No.D-2/26, Bicholim Industrial Estate, Bicholim – 403529, Goa, India

Tel. No.:

91-832-2362175 / 2362184 / 2362337 / 2362865 / 2362977 / 362257

Mobile No.:

91-9822125358 (Mr. Uttam K. Parab)

Fax No.:

91-832-6613290 / 2362257

E-Mail :

venus@venus-goa.com

Website :

http://www.venus-goa.com

Location :

Leased

 

 

Corporate Office :

Hari Nivas, 1st Floor, 19, Mathew Road, Mumbai-400004, Maharashtra, India.

Tel. No.:

91-22-23630466 / 23630466 / 23610523

Fax No.:

91-22-23644285

 

 

DIRECTORS

 

As On 30.09.2011

 

Name :

Mr. Zubin Keki Gandhi

Designation :

Director

Address :

1-2M, H No. 19, Harniwas Mathwer Marg, Mumbai – 400004, Maharashtra, India 

Date of Birth/Age :

30.11.1968

Qualification :

B. A. Philosophy

Date of Appointment :

05.10.2006

Voter Id Card No.:

MT/04/023/183647

DIN No.:

00664632

 

 

Name :

Mr. Amol Ashok Walke

Designation :

Director

Address :

D-29, Sushila Housing Board Colony, Mapusa, Bardez – 403507, Goa, India

Date of Birth/Age :

31.10.1983

Qualification :

PHD Chemicals

Date of Appointment :

21.01.2002

Voter Id Card No.:

CPQ2177012

DIN No.:

00664315

 

 

KEY EXECUTIVE

 

Name :

Mr. Uttam

Designation :

Audit Department

 

 

Name :

Mr. Dev Anand

Designation :

Account Department

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As On 30.09.2011

 

Names of Shareholders

 

No. of Shares

Zubin Keki Gandhi

 

150000

Anjali Aashok Walke

 

135000

Amol Ashok Walke

 

15000

Total

 

300000

 

As On 30.09.2011

 

Equity Share Break Up

Category

Percentage

Directors or relatives of Directors

100.00

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Trader of Chemicals

 

 

Exports :

 

Products :

Chemicals

Countries :

·         New Zealand

·         Australia

 

 

Imports :

 

Products :

Raw materials

Countries :

·         Japan

·         Singapore

·         Korea

 

 

Terms :

 

Selling :

Cash and Credit

 

 

Purchasing :

Cash and Credit

 

PRODUCTION STATUS (AS ON 31.03.2011)

 

Particulars

Unit

Actual Production

 

Grand – M – 8

Kgs.

363000

Grand – CDHC

Kgs.

357670

Grand – SS – 3160

Kgs.

169500

Grand – OC/48-AF

Kgs.

143250

Product – 22219/EP

Kgs.

108950

Imerol – HPWD

Kgs.

149600

Grand – 137

Kgs.

110125

Product -3X

Kgs.

116310

Grand-SS-8047

Kgs.

80000

GCA-600

Kgs.

83400

GA-42

Kgs.

68100

Grand – 320

Kgs.

44450

Products – - SQR

Kgs.

57400

Product –POE-60(Palm oil 60 EO)

Kgs.

89400

Grand – 33 – AE (Oleyl Cetyl Alcohol 5 Mole EO)

Kgs.

52030

Product – 9200

Kgs.

52575

Others

Kgs.

4456248

 

 

GENERAL INFORMATION

 

Suppliers :

·         Godrej

 

 

Customers :

Wholesalers and Retailers

 

·         Clariant Chemicals India Private Limited

 

 

No. of Employees :

200 (Approximately) (In Office + In Factory)

 

 

Bankers :
  • State Bank of India, Backbay Reclamation Branch, Mumbai – 400021, Maharashtra, India
  • ICICI Bank Limited
  • HDFC Bank, HDFC Bank House Senapati Bapat Marg, Lower Parel W, Mumbai - 400013, Maharashtra, India
  • Corporation Bank

 

Banking Relations :

--

 

 

Financial Institutions :

·         SBI Global Factors Limited – 6th Floor, Metropolitan Building, Bandra-Kurla Complex, Bandra (East), Mumbai – 400051, Maharashtra, India

 

·         Pyramid Finance Private Limited, Salgaocar House, F Luis Gomes Road, Vasco Da Gama, Goa - 403802, Goa, India

 

 

Auditors :

 

Name :

Y. K. Desai and Company

Chartered Accountants

Address :

106, Prospect Chambers, 317/321, Dr. D. N. Road, Fort, Mumbai – 400001, Maharashtra, India

Tel. No.:

91-22-22045015

Telefax No.:

91-22-43215014

Email :

office@ykdesai.com

Pan No.:

AACPD2467L

 

 

Associates/Subsidiaries (As On 31.03.2009) :

·         Esteem Industries Private Limited

Plot No.76-77, Pissurlem Industries Estate, Pissurlem-Sattari – Goa, India

(Manufacturer of Chemicals)

 

·         Venus Ethoxyethers Private Limited

Plot No.109-111, Bicholim Industrial Estate, Bicholim – 403529, Goa, India

(Manufacturer of Chemicals)

 

·         VIC Industries

Plot No.76, Pissurlem Industrial Estate, Pissurlem-Sattarti-Goa, India

(Manufacturer of Chemicals)

 

 

CAPITAL STRUCTURE

 

As On 30.09.2011

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

300,000

Equity Shares

Rs.100/- each

Rs.30.000 Millions

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

300,000

Equity Shares

Rs.100/- each

Rs.30.000 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

30.000

30.000

30.000

2] Share Application Money

0.000

0.000

0.000

3] Reserves & Surplus

109.109

101.242

93.177

4] (Accumulated Losses)

0.000

0.000

0.000

NETWORTH

139.109

131.242

123.177

LOAN FUNDS

 

 

 

1] Secured Loans

165.340

182.992

158.508

2] Unsecured Loans

 

 

15.365

TOTAL BORROWING

165.340

182.992

173.873

DEFERRED TAX LIABILITIES

0.000

0.000

0.000

 

 

 

 

TOTAL

304.449

314.234

297.050

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

39.086

39.994

36.071

Capital work-in-progress

0.000

0.000

0.000

 

 

 

 

INVESTMENT

0.000

0.000

0.000

DEFERRED TAX ASSETS

3.597

4.505

6.559

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories

97.823

124.301

87.354

 

Sundry Debtors

206.929

200.666

187.996

 

Cash & Bank Balances

25.388

27.596

21.649

 

Other Current Assets

0.000

0.000

0.000

 

Loans & Advances

95.432

94.946

67.332

Total Current Assets
425.572
447.509
364.331

Less : CURRENT LIABILITIES & PROVISIONS
 
 
 

 

Sundry Creditors

117.874

102.593

89.714

 

Other Current Liabilities

20.332

48.484

0.000

 

Provisions

25.600

26.697

20.197

Total Current Liabilities
163.806
177.774
109.911

Net Current Assets

261.766

269.735

254.420

 

 

 

 

MISCELLANEOUS EXPENSES

0.000

0.000

0.000

 

 

 

 

TOTAL

304.449

314.234

297.050

 

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2012

31.03.2011

 

SALES

 

 

 

 

 

Income

 

729.124

710.185

 

 

Other Income

 

3.840

5.753

 

 

TOTAL                                     (A)

 

732.964

715.938

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Goods Sold

 

361.642

416.960

 

 

Purchase of Stock-in-trade

 

168.148

69.733

 

 

Changes in inventories of Finished goods, Work-in-progress and Stock-in-trade

 

(8.416)

(13.116)

 

 

Other Manufacturing Expenses

 

71.783

106.537

 

 

Employee benefits Expenses

 

27.455

21.138

 

 

Other Expenses

 

59.661

58.249

 

 

TOTAL                                     (B)

 

680.273

659.501

 

                                                        

 

 

 

Less

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

 

52.691

56.437

 

 

 

 

 

Less

FINANCIAL EXPENSES                         (D)

 

33.407

33.311

 

 

 

 

 

 

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

 

19.284

23.126

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

 

7.408

6.507

 

 

 

 

 

 

PROFIT BEFORE TAX (E-F)                               (G)

 

11.876

16.619

 

 

 

 

 

Less

TAX                                                                  (H)

 

4.009

8.544

 

 

 

 

 

 

PROFIT AFTER TAX (G-H)                                (I)

 

7.867

8.065

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

 

NA

90.871

 

 

 

 

 

 

BALANCE CARRIED TO THE B/S

 

NA

NA

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

Export Earnings

 

NA

20.894

 

TOTAL EARNINGS

 

NA

20.894

 

 

 

 

 

 

IMPORTS

 

NA

181.301

 

 

 

 

 

 

Earnings Per Share (Rs.)

 

26.22

28.78

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

 

31.03.2010

 

SALES

 

 

 

 

 

Income

 

 

685.708

 

 

Other Income

 

 

4.803

 

 

TOTAL                                     (A)

 

 

690.511

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Goods Sold

 

 

554.321

 

 

Employees Remuneration

 

 

20.053

 

 

Operating and Establishment Expenses

 

 

47.604

 

 

Selling and Distribution Expenses

 

 

9.394

 

 

TOTAL                                     (B)

 

 

631.372

 

                                                        

 

 

 

Less

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

 

 

59.139

 

 

 

 

 

Less

FINANCIAL EXPENSES                         (D)

 

 

32.645

 

 

 

 

 

 

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

 

 

26.494

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

 

 

7.705

 

 

 

 

 

 

PROFIT BEFORE TAX (E-F)                               (G)

 

 

18.789

 

 

 

 

 

Less

TAX                                                                  (H)

 

 

3.699

 

 

 

 

 

 

PROFIT AFTER TAX (G-H)                                (I)

 

 

15.090

 

 

 

 

 

Less

SHORT PROVISION OF INCOME TAX IN EARLIER YEARS

 

 

0.172

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

 

 

75.953

 

 

 

 

 

 

BALANCE CARRIED TO THE B/S

 

 

90.871

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

Export Earnings

 

 

NA

 

TOTAL EARNINGS

 

 

NA

 

 

 

 

 

 

IMPORTS

 

 

NA

 

 

 

 

 

 

Earnings Per Share (Rs.)

 

 

50.30

 

Expected Sales (2012-2013): Rs.800.000 Millions

 

The above information has been parted by Mr. Uttam K. Parab

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2011

31.03.2011

31.03.2010

PAT / Total Income

(%)

1.07

1.13

2.19

 

 

 

 

 

Net Profit Margin

(PBT/Sales)

(%)

1.63

2.34

2.74

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

2.56

3.41

4.69

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.09

0.13

0.15

 

 

 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 

2.37

2.75

2.30

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

2.60

2.52

3.31

 

 

LOCAL AGENCY FURTHER INFORMATION

 

SUNDARY CREDITORS DETAILS

Rs in Millions

PARTICULAS

31.03.2012

31.03.2011

31.03.2010

 

 

 

 

Creditors for goods

117.874

102.593

73.861

Creditors for Expenses

 

 

13.385

Creditors for others

 

 

2.468

Total

117.874

102.593

89.714

 

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

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

Yes

15]

Capital in the business

Yes

16]

Details of sister concerns

Yes

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

Yes

32]

PAN of Proprietor/Partner/Director, if available

No

33]

Voter ID No of Proprietor/Partner/Director, if available

Yes

34]

External Agency Rating, if available

No

 

BANKERS CHARGES REPORT AS PER REGISTRY

 

Corporate identity number of the company

U24119GA1994PTC001573

Name of the company

Grand Organics Private Limited

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

D-2/26, Bicholim Industrial Estate, Bicholim-403529, Goa, India

E-Mail Id : venus@venus-goa.com

This form is for

Creation of charge

Type of charge

Movable property (not being pledge)

Particular of charge holder

HDFC Bank, HDFC Bank House Senapati Bapat Marg, Lower Parel W, Mumbai - 400013, Maharashtra, India

E-mail : : cpu-retailassetoperations.rocefiling@hdfcbank.com

Nature of description of the instrument creating or modifying the charge

Agreement for Loan and Guarantee.

(Contracts No.: 3439332 / 39)

(Rs.0.450 Million X 2 Conts.) = Rs.0.900 Million

Date of instrument Creating the charge

01.09.2012

Amount secured by the charge

Rs.0.900 Millions

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

Rate of Interest

Interest @ 12.25 % p.a.

 

Terms of Repayment

The Loan is repayable in 36 EMIs of Rs.30000/- (Rs.15000/- X 2 Conts.) starting from 1st October, 2012 ending on 1st September, 2015.

 

Margin

As may be stipulated by bank from time to time.

 

Extent and Operation of the Charge

The Company hypothecates to and charges in favour of the Bank by way of first and exclusive charge of the Vehicle/ equipment described in Item No. 15 as security for the repayment/payment by the company of the loan granted or to be granted to the company by the Bank together with all fees, interest, costs and expenses incurred/to be incurred by the Bank and all other monies payable or to become payable by the company to the Bank.

 

Others

The Bank shall be absolutely entitled and have full power and authority to sell, assign or transfer in any manner, in whole or in part, and in such manner and on such terms as the Bank may decide, including reserving a right to the Bank to retain its power to proceed against the company on behalf of the purchaser, assignee or transferee, any or all outstanding dues of the company, to any third party of the Bank's choice without reference to or without written intimation to the company.

Short particulars of the property charged

Hypothecation of 2 Nos. Vehicle namely : TATA 2518.

 

Fixed Assets: 

  • Plot
  • Factory Building
  • Plant and Machinery
  • Furniture and Fixtures
  • Electrical Installation  
  • Safety Equipments
  • Generator
  • Borewell
  •  
  • Cooling Tower
  • Drums Drier
  • Installation, Transportation etc.
  • Tools
  • Weighing Machine
  • Laboratory Development Equipments
  • Refrigeration Unit
  • Boiler
  • Nitrogen Gas Generator
  • Stacker And Trucks
  • Motor Car
  • Storage Tank and Accessories
  • Trucks
  • Computers
  • Office Equipments

 

TRADE REFERENCES:

 

·         Godrej

·         Clariant Chemicals India Private Limited

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

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

 

1]         INFORMATION ON DESIGNATED PARTY

No 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.55.34

UK Pound

1

Rs.88.30

Euro

1

Rs.70.22

 

INFORMATION DETAILS

 

Information Gathered by :

PJA

 

 

Report Prepared by :

BSN

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILIRY

1~10

5

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--RESERVES

1~10

5

--CREDIT LINES

1~10

5

--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

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

TOTAL

 

45

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                 Payment record (10%)

Credit history (10%)                    Market trend (10%)                                Operational size (10%)

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

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

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

-

NB

                                       New Business

-

 

 

 

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

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