MIRA
INFORM REPORT
|
Report Date : |
29.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
NOVEX POLY FILMS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
1st Floor, Plot No. 21, Modern Industrial Estate, Kachigam,
Daman-396120, Daman and Diu |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
04.03.1999 |
|
|
|
|
Com. Reg. No.: |
56-004710 |
|
|
|
|
Capital
Investment/ Paid-up Capital: |
Rs.0.510 Million |
|
|
|
|
CIN No.: [Company Identification No.] |
U25200DD1999PTC044710 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMN09796D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACN9258J |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing of High Quality Polythene Bags for Packing
of Pharmaceutical Bulk Drugs and Fine Chemicals. |
|
|
|
|
No. of
Employees: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (53) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 300000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established company having good track. The financial
position of the company appears to be sound and healthy. It has achieved better growth in its revenue earned from operations
during 2012. Trade relations are reported as trustworthy. Business is active.
Payments are reported to be regular and as per commitments. The company can be considered good 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.
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 |
|
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 |
CRISIL |
|
Rating |
SE 1A |
|
Rating Explanation |
Highest performance capability and high financial strength. |
|
Date |
June 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 : |
1st Floor, Plot No. 21, Modern Industrial Estate, Kachigam,
Daman-396120, Daman and Diu, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
|
|
|
Sales Office : |
305, Prasant Chambers, 5/7, Bhandari Cross Lane, Masjid Bunder, Mumbai
400003, |
|
Tel. No.: |
91-22-23410725/ 23445290 |
|
Fax No.: |
91-22-23410725 |
DIRECTORS
AS ON 15.09.2012
|
Name : |
Mr. Jay Mahesh Shroff |
|
Designation : |
Managing Director |
|
Address : |
26, Jayant Mahal, |
|
Date of Birth/Age : |
19.05.1976 |
|
Date of Appointment : |
04.03.1999 |
|
DIN NO: |
00691652 |
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 |
U25200MH1971PTC015001 |
NOVA
PLAST INDUSTRIES PRIVATE LIMITED |
Director |
20/09/1994 |
20/09/1994 |
Active |
NO |
|
2 |
U25200DD1999PTC004710 |
NOVEX
POLY FILMS PRIVATE LIMITED |
Managing
director |
04/03/1999 |
04/03/1999 |
Active |
NO |
|
Name : |
Mrs. Raksha Mahesh Shroff |
|
Designation : |
Director |
|
Address : |
26, Jayant Mahal, |
|
Date of Birth/Age : |
05.07.1949 |
|
Date of Appointment : |
04.03.1999 |
|
DIN NO: |
00691886 |
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 |
U25209MH1988PTC048972 |
KISRHEA
PLASTIC INDUSTRIES PVT LTD |
Director |
26/12/1990 |
26/12/1990 |
Active |
NO |
|
2 |
U25200DD1999PTC004710 |
NOVEX
POLY FILMS PRIVATE LIMITED |
Director |
04/03/1999 |
04/03/1999 |
Active |
NO |
|
Name : |
Ms. Mamta Jay Shroff |
|
Designation : |
Whole Time Director |
|
Address : |
26, Jayant Mahal, |
|
Date of Birth/Age : |
06.08.1976 |
|
Date of Appointment : |
01.11.2011 |
|
DIN No.: |
03643024 |
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 |
U25200DD1999PTC004710 |
NOVEX
POLY FILMS PRIVATE LIMITED |
Whole-time
director |
02/01/2012 |
01/11/2011 |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 15.09.2012
|
Names of Shareholders |
No. of Shares |
|
Jay Mahesh Shroff |
2400 |
|
Raksha Mahesh Shroff |
2400 |
|
Mamta Jay Shroff |
100 |
|
Anand Mahesh Shroff |
100 |
|
Mahesh Shantilal Shroff |
100 |
|
TOTAL
|
5100 |
AS ON 15.09.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Directors or relatives of Directors |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of High Quality Polythene Bags for Packing of
Pharmaceutical Bulk Drugs and Fine Chemicals. |
||||||||
|
|
|
||||||||
|
Products : |
|
PRODUCTION STATUS [AS ON 31.03.2011]
|
Particulars |
Unit |
Actual
Production |
|
Plastic Packaging Material |
Kg |
3479807 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||||||||
|
Bankers : |
·
HDFC Bank Limited, HDFC Bank House, Senapati Bapat
Marg, Lower Parel (West), Mumbai-400013, Maharashtra, India ·
The Saraswat Co-operative Bank Limited, Masjid
Bunder Branch, Mumbai 400003, |
||||||||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||||||||
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Facilities : |
|
||||||||||||||||||||||||||||||||||||
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|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Hemendra B Shah Chartered Accountant |
|
Address : |
13 Pethewadi, Jambli Gally, Borivali (West), Mumbai 400092,
Maharashtra, |
|
Tel. No.: |
91-22-28982105/ 28982123 |
|
PAN No.: |
AIUPS1348F |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.100/- each |
Rs. 1.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5100 |
Equity Shares |
Rs.100/-
each |
Rs. 0.510
Million |
|
|
|
|
|
NOTES
a)
Terms rights attached to equity shares
The company has
only one class of equity shares having a par value of Rs. 100/- per share each equity
shareholder is entitled to one per share. The Company declares and pays
dividends in Indian rupees.
b)
Details of shareholders holding more than 5% shares
in the company
|
Name |
31.03.2012 |
|
|
Nos. |
% |
|
|
Jay Mahesh Shroff |
2400 |
47.05% |
|
Rakesh Mahesh Shroff |
2400 |
47.05% |
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 |
0.510 |
0.510 |
0.510 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
76.948 |
62.584 |
48.726 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
77.458 |
63.094 |
49.236 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
9.928 |
15.950 |
11.725 |
|
|
2] Unsecured Loans |
11.345 |
8.710 |
7.955 |
|
|
TOTAL BORROWING |
21.273 |
24.660 |
19.680 |
|
|
DEFERRED TAX LIABILITIES |
1.460 |
1.440 |
1.240 |
|
|
|
|
|
|
|
|
TOTAL |
100.191 |
89.194 |
70.156 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
23.332 |
23.185 |
18.287 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.025 |
0.025 |
0.025 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
12.754
|
11.024
|
7.836 |
|
|
Sundry Debtors |
60.996
|
53.723
|
46.302 |
|
|
Cash & Bank Balances |
0.400
|
0.057
|
0.495 |
|
|
Other Current Assets |
0.023
|
0.000
|
0.000 |
|
|
Loans & Advances |
24.118
|
24.665
|
14.675 |
|
Total
Current Assets |
98.291
|
89.469 |
69.308 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
13.043
|
8.593
|
6.743 |
|
|
Other Current Liabilities |
0.421
|
1.499
|
0.073 |
|
|
Provisions |
7.993
|
13.393
|
10.659 |
|
Total
Current Liabilities |
21.457
|
23.485 |
17.475 |
|
|
Net Current Assets |
76.834
|
65.984
|
51.833 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.011 |
|
|
|
|
|
|
|
|
TOTAL |
100.191 |
89.194 |
70.156 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
270.876 |
240.320 |
212.620 |
|
|
|
Other Income |
0.147 |
0.051 |
0.082 |
|
|
|
TOTAL |
271.023 |
240.371 |
212.702 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
NA |
215.089 |
194.324 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA
|
215.089 |
194.324 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
NA |
25.282 |
18.378 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
NA |
2.921 |
2.599 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
NA |
22.361 |
15.779 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
7.910 |
5.552 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
14.956 |
14.451 |
10.227 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
43.226 |
34.893 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
NA |
2.250 |
1.300 |
|
|
|
Dividend |
NA |
0.510 |
0.510 |
|
|
|
Tax on Dividend |
NA |
0.082 |
0.084 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
54.835 |
43.226 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
54.939 |
34.616 |
|
|
TOTAL IMPORTS |
NA |
54.939 |
34.616 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2932.55 |
2833.52 |
2005.47 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA
|
6.01
|
4.80 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
9.30
|
7.42 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
19.85
|
18.01 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.35
|
0.32 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.57
|
0.79
|
0.75 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.58
|
3.81
|
3.96 |
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 |
No |
|
9] |
Name of person contacted |
No |
|
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) |
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 |
No |
|
34] |
External Agency Rating,
if available |
Yes |
NOTE
The registered office of the company has been shifted from 305, Prasant Chambers, 5/7, Bhandari Cross Lane, Masjid Bunder, Mumbai-400003, Maharashtra, India, to the present address w.e.f.10.08.2012.
FINANCIAL RESULTS
The Company had Revenue from Operations of Rs. 270.876 millions and
Profit After Tax of Rs. 14.956 Millions.
FORM 8
|
Corporate
identity number of the company |
U25200MH1999PTC118639 |
|
Name of the
company |
NOVEX POLY FILMS
PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
305, Prasant Chambers, 5/7, Bhandari Cross Lane, Masjid Bunder, Mumbai
400003, |
|
This form is for |
Creation of
charge |
|
Type of charge |
·
Book
debts ·
Movable
property (not being pledge) ·
Floating
charge |
|
Particular of
charge holder |
HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai-400013, Maharashtra, India |
|
Nature of
instrument creating charge |
Letter of Hypothecation. |
|
Date of
instrument Creating the charge |
27.07.2012 |
|
Amount secured by
the charge |
Rs. 20.200
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Interest at the rate
as may be communicated by the Bank from time to time. Terms of repayment Working Capital
facility shall be payable on demand Term loan
facility shall be repayable in suitable installments. Margin As may be
stipulated by the Bank from time to time. Extent and operation of the charge Hypothecation by
way of First Charge on Stocks, Book Debts, Plant and Machinery, Vehicles and
other Fixed Assets to secure as a continuing security in for the repayment of
Rs.20.200 Millions, together with interest, costs, charges, expenses and
other moneys due and payable by the Company to the Bank. |
|
Short particulars
of the property charged (Including location of the property) |
Stock-In-Trade,
consisting of raw materials, goods in process of manufacturing finished goods,
and other merchandise whatsoever being movable properties All the debts,
that is, all the book debts, out standings, monies receivables, claims,
bills, invoice documents, contracts, guarantees, and rights which are now The movable plant
and machinery, vehicles and other fixed assets which may now or at any time
hereafter belong to the Borrower or come to the Borrowers |
FIXED ASSETS
·
Factory Shed
·
Factory Building
·
Office Premises
·
Plant and Machinery
·
Computer
·
Electrical Fittings
·
Motor Cycle
·
Motor Car
·
Air Conditioner
·
Furniture and Fixtures
·
CC TV and Camera
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. 55.70 |
|
|
1 |
Rs. 89.34 |
|
Euro |
1 |
Rs. 72.35 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
53 |
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.