|
Report Date : |
11.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
BHAVIK ENTERPRISES LIMITED |
|
|
|
|
Registered Office : |
49, Jayakar Smruti, Off Aarey Road, Goregaon (West), Mumbai - 400062, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2011 |
|
|
|
|
Date of Incorporation : |
15.09.2008 |
|
|
|
|
Com. Reg. No.: |
11-186771 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 52.860 Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U51900MH2008PLC186771 |
|
|
|
|
IEC No.: |
0398020868 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMB19059F |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AADCB5606P |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business : |
Trader and Distributor of Plastic Granules. |
|
|
|
|
No. of Employees
: |
18 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
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 : |
M N Plastics, a proprietory concern started in 1975 and Bhavik
Enterprises a partnership concern started in 1982 merged and formed Bhavik
Enterprises Limited. It is an established company having satisfactory track. There appears
some dip in the profitability of the company. However, 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. Mukesh |
|
Designation : |
Director |
|
Contact No.: |
91-9820076376 |
|
Date : |
11.10.2012 |
LOCATIONS
|
Registered Office : |
49, Jayakar Smruti, Aarey Road, Goregaon (West), Mumbai - 400062, |
|
Tel. No.: |
91-22-28722005 / 28727897 / 28710711 / 2 /
3 / 28757449 |
|
Mobile No.: |
91-9820076376 (Mr. Mukesh Thakkar) |
|
Fax No.: |
91-22-28757449 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
500 Sq. ft |
|
Location : |
Owned |
|
|
|
|
Godown 1 : |
G-18, Chirag Industrial Complex, 39/40 Golden Industrial Area, |
|
Tel No.: |
91-260-2242687 |
|
Area: |
4000 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Godown 2: |
Gala No. 1, Building No. 9, Agarwal Udyog Nagar, Vasai (East), Thane,
Maharashtra, India |
|
Tel No. |
95-250-2452787 |
|
Area |
7000 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Godown 3: |
14/17, Sary Udyog Near Chincholi Phataka, Malad (West), Mumbai-400064,
|
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Mukesh Natwerlal Thakkar |
|
Designation : |
Director |
|
Address : |
703/A, Marble Arch, |
|
Date of Birth/Age : |
22.07.1955 |
|
Qualification : |
B Com |
|
Date of Appointment : |
15.09.2008 |
|
DIN No.: |
01867515 |
|
|
|
|
Name : |
Mr. Bhavik Mukesh Thakkar |
|
Designation : |
Director |
|
Address : |
703/A, Marble Arch, |
|
Date of Birth/Age : |
11.06.1979 |
|
Qualification : |
MBA |
|
Date of Appointment : |
15.09.2008 |
|
DIN No.: |
01867522 |
|
|
|
|
Name : |
Mrs. Purnima Thakkar |
|
Designation : |
Director |
|
Address : |
703/A, Marble Arch, |
|
Date of Birth/Age : |
26.12.1956 |
|
Qualification : |
BA |
|
Date of Appointment : |
15.09.2008 |
|
DIN No.: |
02262042 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Mukesh Natwerlal Thakkar |
1208000 |
|
Bhavik Mukesh Thakkar |
825500 |
|
Purnima Thakkar |
3028000 |
|
Umesh Thakkar |
224500 |
|
Dhwani Tanna |
1 |
|
Vidhi Thakkar |
1 |
|
Neha Thakkar |
1 |
|
TOTAL
|
5286003 |
AS ON 30.09.2011
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Directors or relatives of Directors |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader and Distributor of Plastic Granules. |
|
|
|
|
Products : |
|
|
|
|
|
Imports : |
|
|
Products : |
|
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
Cash, Credit |
|
|
|
|
Purchasing : |
Cash, Credit |
GENERAL INFORMATION
|
Suppliers : |
|
|
|
|
|
Customers : |
End Users
|
|
|
|
|
No. of Employees : |
18 (Approximately) |
|
|
|
|
Bankers : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Suresh Shah and Company Chartered Accountants |
|
Address : |
39, Commercial Chambers, |
|
Tel. No.: |
91-22-23451147/ 23421839 |
|
Fax No.: |
91-22-23451147 |
|
E-Mail : |
|
|
PAN No.: |
AIOPS2773C |
|
|
|
|
Sister Concern: |
Grifen Securities Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7500000 |
Equity Shares |
Rs.10/- each |
Rs. 75.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5286003 |
Equity Shares |
Rs.10/- each |
Rs. 52.860
Millions |
|
|
|
|
|
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 |
52.860 |
52.860 |
52.860 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
88.338 |
71.555 |
11.659 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
141.198 |
124.415 |
64.519 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
141.198 |
124.415 |
64.519 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
2.941 |
0.969 |
1.325 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.282 |
0.007 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.025 |
0.026 |
0.008 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
111.153
|
26.089 |
28.677 |
|
|
Sundry Debtors |
129.960
|
52.520 |
52.594 |
|
|
Cash & Bank Balances |
112.083
|
187.826 |
66.571 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
56.793
|
11.768 |
3.395 |
|
Total
Current Assets |
409.989
|
278.203 |
151.237 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
223.246
|
107.810 |
80.516 |
|
|
Other Current Liabilities |
0.000
|
0.669 |
1.313 |
|
|
Provisions |
49.000
|
46.610 |
6.610 |
|
Total
Current Liabilities |
272.246
|
155.089 |
88.439 |
|
|
Net Current Assets |
137.743
|
123.114 |
62.798 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.207 |
0.299 |
0.388 |
|
|
|
|
|
|
|
|
TOTAL |
141.198 |
124.415 |
64.519 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1336.464 |
1114.878 |
178.024 |
|
|
|
Other Income |
29.793 |
34.280 |
1.148 |
|
|
|
TOTAL (A) |
1366.257 |
1149.158 |
179.172 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption Material Changes Inventories |
1262.489 |
970.269 |
173.688 |
|
|
|
Manufacturing Service Costs |
57.845 |
49.826 |
8.550 |
|
|
|
Employees Related Expenses |
5.071 |
4.851 |
0.000 |
|
|
|
Administrative, Selling and Other Expenses |
12.813 |
12.232 |
5.852 |
|
|
|
Increase/ Decrease in Stock |
0.000 |
0.000 |
(27.256) |
|
|
|
TOTAL (B) |
1338.218 |
1037.178 |
160.834 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
28.039 |
111.980 |
18.338 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
0.699 |
2.207 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
27.340 |
109.773 |
18.338 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.359 |
0.273 |
0.077 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
26.981 |
109.500 |
18.261 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
10.199 |
44.863 |
6.603 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
16.782 |
64.637 |
11.658 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
71.555 |
11.658 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Amount
Available Appropriation |
88.337 |
76.295 |
11.658 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
88.337 |
71.555 |
11.658 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
NA |
142.683 |
|
|
TOTAL EARNINGS |
NA |
NA |
142.683 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.17 |
11.33 |
11.62 |
|
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
1600.000 |
|
|
|
|
|
Expected Sales (2012-2013) : Rs.1750.000 Millions
The above information has been parted by Mr. Mukesh.
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.23
|
5.62 |
6.51 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.02
|
9.82 |
10.26 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.53
|
39.22 |
11.97 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19
|
0.88 |
0.28 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.93
|
1.25 |
1.37 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.51
|
1.79 |
1.71 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
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 |
No |
|
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 |
SUNDRY CREDITORS
DETAILS
(Rs.
In Millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors
|
|
|
|
|
Creditors due small micro enterprises |
0.000 |
0.000 |
0.000 |
|
Creditors due others |
223.246 |
107.810 |
5.044 |
|
For Suppliers |
-- |
-- |
73.867 |
|
For Expenses |
-- |
-- |
1.605 |
|
TOTAL |
223.246 |
107.810 |
80.516 |
FORM 8
|
Corporate
identity number of the company |
U51900MH2008PLC186771 |
|
Name of the
company |
BHAVIK ENTERPRISES LIMITED |
|
Address of the
registered office or of the principal place of business in |
49, Jayakar Smruti, Aarey Road, Goregaon (West), Mumbai - 400062, |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the charge to be modified |
10193352 |
|
Type of charge |
|
|
Particular of
charge holder |
Dena Bank, Mount Poinsur Branch, Anand Bhuvan, Sardar V P Road, Borivali (West), Mumbai-400103,
Maharashtra, India |
|
Nature of
instrument creating charge |
Draft of Unattested
Memorandum of Modification Agreement from Companies |
|
Date of
instrument Creating the charge |
10.06.2011 |
|
Amount secured by
the charge |
Rs. 100.000
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest Not Applicable Terms of repayment On Demand Margin Margin to be
maintained @20% over Letter of Credit (Inland/Foreign) (DA). Margin to be
maintained @10% over Letter of Credit (Inland/Foreign) (DP). Extent and operation of the charge Security created
by way of first charge and to cover the principal amount together with
interest, commission, costs, charges and
expenses. Other Discounting of DA
Bills (Inland) of Rs.10.000 Millions as sub-limit of LC. Bank Guarantee of
Rs.3.500 Millions as sub-limit of LC. Letter of Credit
(LC) of Rs.100.000 Millions. Commission: As
per approval of HO. |
|
Short particulars
of the property charged (Including location of the property) |
All stocks of raw
materials, stock in process, semi finished and finished goods such as plastic
granules etc., consumable stores and spares, packing materials etc.,
purchased / imported under the letters of credit facility, both present and
future, now being or hereafter brought into or upon or now or hereafter in
course of transit by road, rail, ship or air to any godown, jathas or other
place of storage at Daman, Silvassa, Vasai or other place/s whatsoever and
wheresoever in the possession or occupation of the company. All the tangible
movable properties and assets of whatsoever nature comprising plant,
machinery, tools and accessories, stores, spares relating to the plant and
machinery, furniture, articles, office equipments, computers and things etc.
purchased / imported under the Letter of Credit facility and lying and being
at the premises / factories of the company at Mumbai either by way of
substitution or in addition or other place whatsoever and where so ever in
the possession or occupation of the company. All present and
future book debts, out standings, moneys, receivables, claims, bills, rights,
to or in movable properties and movable assets and which are now due, owing
or payable or belonging to the company or which may at any time hereafter
become due, owing, payable or belonging to the company in the course of its
business by any person, firm, company or body corporate or by the Government
Central or State or Indian Railways, any Government department or office or
any Municipal or local or public or semi government body or authority or
anybody corporate or undertaking or project whatever in the public sector |
|
Date of
instrument modifying the charge |
26.11.2009 |
|
Particulars of
the present modification |
The charge over
movable properties now stands enhanced from Rs.49.500 Millions to Rs.100.000
Millions. |
TRADE REFERENCES
FIXED ASSETS
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. 53.04 |
|
|
1 |
Rs. 84.83 |
|
Euro |
1 |
Rs. 68.21 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
DPT |
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 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
|
43 |
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.