MIRA INFORM REPORT

 

 

Report Date :

01.04.2013

 

IDENTIFICATION DETAILS

 

Name :

SUPREME NONWOVEN INDUSTRIES PRIVATE LIMITED (w.e.f. 02.01.2008)

 

 

Formerly Known As :

BHILAD TEXTILE INDUSTRIES PRIVATE LIMITED

 

 

Registered Office :

Plot No.110, 8th Floor, 16th Road, Chembur, Mumbai – 400 071, Maharashtra

 

 

Country :

India

 

 

Financials (as on) :

31.03.2012

 

 

Date of Incorporation :

04.06.1984

 

 

Com. Reg. No.:

11-033072

 

 

Capital Investment / Paid-up Capital :

Rs.5.882 millions

 

 

CIN No.:

[Company Identification No.]

U17120MH1984PTC033072

 

 

PAN No.:

[Permanent Account No.]

AAACB1673P

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturing and Exporting of non-woven fabrics, non-woven interlinings, non-woven filter fabrics, etc.

 

 

No. of Employees :

Information declined by the Management

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (54)

 

RATING

STATUS

 

PROPOSED CREDIT LINE

41-55

Ba

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

Satisfactory

 

Maximum Credit Limit :

USD 3484000

 

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Comments :

Subject is a well-established company having a fine track record.

 

Financial position of the company is sound and healthy. Directors are well-experienced and knowledgeable businessmen.

 

It has rich client base. Trade relations are reported as decent. Business is active. Payment terms are regular and as per commitment.

 

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.

 

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

Long Term Rating: BBB+

Rating Explanation

Moderate degree of safety and moderate credit risk.

Date

24.04.2012

 

 

Rating Agency Name

CRISIL

Rating

Short Term Rating: A2

Rating Explanation

Strong degree of safety and low credit risk.

Date

24.04.2012

 

 

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.

 

INFORMATION DECLINED

 

Management Non-Cooperative

(Mobile No.: 91-9930262002)

(Tel. No.: 91-22-25212323)

 

LOCATIONS

 

Registered Office :

Plot No.110, 8th Floor, 16th Road, Chembur, Mumbai – 400 071, Maharashtra, India

Tel. No.:

91-22-25208822/ 25212323

Fax No.:

91-22-25208092

E-Mail :

amit.kavrie@supremegroup.co.in

 

 

Factory 1 :

National Highway No.8, Bhilad, District Valsad – 396 105, Gujarat , India

Tel. No.:

91-260-2784169/ 4669

Fax No.:

91-260-2784170

 

 

Factory 2 :

Next to Dalwada Substation, Kadaiya Village, Airport Road, Daman – 396 210, India

Tel. No.:

91-260-2221706/ 2220943/ 2220998 

Fax No.:

91-260-2220706

 

 

Factory 3  :

Plot No.83, Phase I, GIDC, Vapi – 396 195, Gujarat, India

Tel. No.:

91-260-2420441/ 3948420

Fax No.:

91-260-2401332

 

 

DIRECTORS

 

As on 28.09.2012

 

Name :

Mr. Mohan Mahadev Kavrie

Designation :

Whole Time Director

Address :

E/25, Matru Krupa, Nandadeep Everest Colony, Sahakar Nagar, Road No.4, Chembur, Mumbai – 400 071, Maharashtra, India

Date of Birth/Age :

24.09.1948

Date of Appointment :

02.05.2000

DIN No.:

00243269

PAN No.:

AADPK5561F

Voter ID No.:

MT/07/047/0264230

 

 

Name :

Mr. Amit Mohan Kavrie

Designation :

Director

Address :

E/25, Matru Krupa, Nandadeep Everest Colony, Sahakar Nagar, Road No.4, Chembur, Mumbai – 400 071, Maharashtra, India

Date of Birth/Age :

21.08.1977

Date of Appointment :

10.07.2006

DIN No.:

00153017

 

 

Name :

Mrs. Christine Marieluise Koegler

Designation :

Director

Address :

Wernher-Von-Braun-Str. 23, Oberkotzau, Germany

Date of Birth/Age :

06.01.1964

Date of Appointment :

14.10.2010

DIN No.:

03269542

 

 

Name :

Dr. Harald Lothar  Stini

Designation :

Director

Address :

Neue Plauensche Str 92, Plauen Ot Oderlosa, Germany

Date of Birth/Age :

29.03.1958

Date of Appointment :

26.06.2006

DIN No.:

02864818

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 28.09.2012

 

Names of Shareholders

 

 

No. of Shares

Mohan Mahadev Kavrie  and Jaya Mohan Kavrie

 

14254

Jaya Mohan Kavrie

 

2001

Leela Mahadev Kavrie

 

2000

Mahadev Satnamma Naik

 

2995

Supreme Nonwovens Private Limited, India

 

3750

Eswegee Vilesstoff GmbH, Germany

 

28824

Amit Mohan Kavrie

 

2500

Smita Mohan Kavrie

 

2500

Total

 

58824

 

As on 28.09.2012

 

Equity Share Breakup

 

Percentage of Holding

Category

 

 

Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]

 

49.00

Bodies corporate

 

6.38

Directors or relatives of directors

 

44.62

Total

 

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturing and Exporting of non-woven fabrics, non-woven interlinings, non-woven filter fabrics, etc.

 

 

Products :

·        Hygiene Non Woven Fabric

·        Non Woven Carpet

·        Non Woven Fabric

·        Non Woven Filter Fabric

·        Non Woven Geotextile

·        Non Woven Interlining

·        Non Woven Shoe Lining

 

Item Code No. (ITC Code)

56029000

Product Description

Felt, whether or not impregnated, coated, covered or laminated

Item Code No. (ITC Code)

56039400

Product Description

Nonwovens, whether or not impregnated, coated, covered or laminated

Item Code No. (ITC Code)

87089900

Product Description

Parts and accessories of the motor vehicles of headings 8701 to 8705

 

PRODUCTION STATUS (AS ON 31.03.2012)

 

Particulars

 

Actual Production

Fabric

31688066

Roofliner

2761003

 

 

GENERAL INFORMATION

 

No. of Employees :

Information declined by the Management

 

 

Bankers :

·         The Shamrao Vitthal Co-operative Bank Limited, Natasha Plaza, Plot No.913, D.K. Sandhu Marg, Chembur (East), Mumbai – 400 071, Maharashtra, India

·         Standard Chartered Bank Limited

·         HDFC Bank Limited

·         Saraswat Co-operative Bank Limited

 

 

Facilities :

Secured Loans

31.03.2012

(Rs. in Millions)

31.03.2011

(Rs. in Millions)

LONG-TERM BORROWINGS

 

 

Rupee term loans from banks

239.535

270.710

Loans taken for vehicles

3.485

5.838

SHORT-TERM BORROWINGS

 

 

Working capital loans from banks

(Against hypothecation of inventories and book debts on pari-passu basis and personally guaranteed by the directors)

159.881

110.356

Total

402.901

386.904

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Kalyaniwalla and Mistry

Chartered Accountants

Address :

Kalpataru Heritage, 127, Mahatma Gandhi Road, Mumbai – 400 023, Maharashtra, India

PAN No.:

AAAFK7554R

 

 

Enterprises with substantial interest in the Company :

Eswegee Vlisstoff GMBH (holds 49.0% of the equity share capital of the Company)

 

 

Enterprises over which the Company’s Directors exercise significant influence :

·         Supreme Nonwovens Private Limited

·         Supreme Poly Fibers Private Limited

·         Supreme Treves Private Limited

·         Matru Fabrics Private Limited

·         CERA Technologies Private Limited

 

 

CAPITAL STRUCTURE

 

As on 28.09.2012

 

Authorised Capital :

No. of Shares

Type

Value

Amount

60000

Equity Shares

Rs.100/- each

Rs.6.000 millions

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

58824

Equity Shares

Rs.100/- each

Rs.5.882 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

5.882

5.882

5.442

2] Share Application Money

0.000

0.000

0.000

3] Reserves & Surplus

865.183

810.776

663.361

4] (Accumulated Losses)

0.000

0.000

0.000

NETWORTH

871.065

816.658

668.803

LOAN FUNDS

 

 

 

1] Secured Loans

402.901

386.904

558.727

2] Unsecured Loans

0.000

2.272

2.028

TOTAL BORROWING

402.901

389.176

560.755

DEFERRED TAX LIABILITIES

84.194

79.512

68.484

 

 

 

 

TOTAL

1358.160

1285.346

1298.042

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

907.724

892.594

867.835

Capital work-in-progress

67.745

80.553

35.608

 

 

 

 

INVESTMENT

1.048

1.068

1.068

DEFERRED TAX ASSETS

0.000

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
314.634

258.896
184.938

 

Sundry Debtors
195.695

186.605
276.339

 

Cash & Bank Balances
22.171

19.549
20.913

 

Other Current Assets
2.084

2.122
0.000

 

Loans & Advances
164.075

172.124
111.669

Total Current Assets
698.659

639.296

593.859

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

Sundry Creditors
106.092

73.806
170.301

 

Other Current Liabilities
204.197

224.604

 

 

Provisions
6.727

29.755
30.027

Total Current Liabilities
317.016

328.165

200.328

Net Current Assets
381.643

311.131
393.531

 

 

 

 

MISCELLANEOUS EXPENSES

0.000

0.000

0.000

 

 

 

 

TOTAL

1358.160

1285.346

1298.042

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2012

31.03.2011

 

SALES

 

 

 

 

 

Income

 

1711.759

1491.523

 

 

Other Income

 

NA

NA

 

 

TOTAL                                     (A)

 

NA

NA

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Office Expenses

NA

NA

 

 

Administrative Expenses

 

 

 

 

 

Advertising Expenses

 

 

 

 

 

TOTAL                                     (B)

 

NA

NA

 

 

 

 

 

Less

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

 

241.108

262.522

 

 

 

 

 

Less

INTEREST                                                         (D)

 

51.698

48.274

 

 

 

 

 

 

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

 

189.410

214.248

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

 

77.570

72.136

 

 

 

 

 

 

PROFIT BEFORE TAX (E-F)                               (G)

 

111.840

142.112

 

 

 

 

 

Less

TAX                                                                  (H)

 

28.842

39.768

 

 

 

 

 

 

PROFIT AFTER TAX (G-H)                                (I)

 

82.998

102.344

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

 

200.775

132.955

 

 

 

 

 

Less

APPROPRIATIONS

 

 

 

 

 

Transfer to General Reserve

 

8.300

10.400

 

 

Proposed Dividend

 

0.000

20.757

 

 

Interim Dividend

 

20.294

0.000

 

 

Tax on Dividend

 

3.292

3.367

 

BALANCE CARRIED TO THE B/S

 

251.887

200.775

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

1.248

0.827

 

 

 

 

 

 

Earnings Per Share (Rs.)

 

1410.95

1739.83

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2012

31.03.2011

31.03.2010

Net Profit Margin

(PBT/Sales)

(%)

6.53
9.53
NA

 

 

 
 
 

Return on Total Assets

(PBT/Total Assets}

(%)

6.96
9.28
NA

 

 

 
 
 

Return on Investment (ROI)

(PBT/Networth)

 

0.13
0.17
NA

 

 

 
 
 

Debt Equity Ratio

(Total Debt/Networth)

 

0.46
0.48
0.84

 

 

 
 
 

Current Ratio

(Current Asset/Current Liability)

 

2.20
1.95
2.96

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Details of Sundry Creditors:

 

Particulars

 

31.03.2012

(Rs. in millions)

31.03.2011

(Rs. in millions)

31.03.2010

(Rs. in millions)

Sundry Creditors

106.092

73.806

NA

 

 

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 two years

Yes

12) Profitability for last two years

Yes

13) Reasons for variation <> 20%

--

14) Estimation for coming financial year

No

15) Capital in the business

Yes

16) Details of sister concerns

Yes

17) Major suppliers

No

18) Major customers

No

19) Payments terms

No

20) Export / Import details (if applicable)

No

21) Market information

--

22) Litigations that the firm / promoter involved in

--

23) Banking Details

Yes

24) Banking facility details

Yes

25) Conduct of the banking account

--

26) Buyer visit details

--

27) Financials, if provided

Yes

28) Incorporation details, if applicable

Yes

29) Last accounts filed at ROC

Yes

30) Major Shareholders, if available

Yes

31) Date of Birth of Proprietor/Partner/Director, if available

Yes

32) PAN of Proprietor/Partner/Director, if available

Yes

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

Yes

34) External Agency Rating, if available

Yes

 

 


Unsecured Loans

31.03.2012

(Rs. in Millions)

31.03.2011

(Rs. in Millions)

SHORT-TERM BORROWINGS

 

 

Rupee term loans from banks

0.000

2.272

Total

0.000

2.272

 

Note:

The Registered office of the company has been shifted from Centre Point, 7th Floor 18th Road, Chembur, Mumbai – 400 071, Maharashtra, India to the present Office address with effect from 29.11.2012

 

PROGRESS

 

The company has achieved satisfactory production and sales during the year.

 

JOINT VENTURE:

 

The Joint Venture agreement with the German Company having expertise in nonwoven business is progressing satisfactorily.

 

Bankers Charges Report as per Registry

 

Corporate identity number of the company

U17120MH1984PTC033072

Name of the company

SUPREME NONWOVEN INDUSTRIES PRIVATE LIMITED

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

Plot No.110, 8th Floor, 16th Road, Chembur, Mumbai – 400 071, Maharashtra, India

E-Mail: amit.kavrie@supremegroup.co.in

This form is for

Modification of charge

Charge identification number of the modified 

10044174

Type of charge

Immovable Property

Particular of charge holder

The Shamrao Vitthal Co-operative Bank Limited, Natasha Plaza, Plot No.913, D.K. Sandhu Marg, Chembur (East), Mumbai – 400 071, Maharashtra, India

E-Mail: legaldept@svcbank.com

Nature of description of the instrument creating or modifying the charge

Recording Letter Evidencing Deposit of Title Deeds

Date of instrument Creating the charge

13.03.2013

Amount secured by the charge

Rs.362.741 millions

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

Rate of Interest:

As may be decided by bank from time to time

 

Terms of Repayment:

As may be decided by bank from time to time

 

Margin:

As may be decided by bank from time to time

 

Extent and Operation of the charge:

To secure the due repayment of credit facilities aggregating Rs.362.741 millions (SVC Bank: Rs.84.267 millions, HDFC Bank: Rs.137.224 millions and YES BANK Rs.141.250 millions), (out of Rs.56.250 millions by Yes Bank liability to be restricted to Rs.14.400 millions (existing Rs.2.500 millions and new Rs.11.900 millions) together with interest, costs, charges and expenses thereon, granted by the Bank to the Company and Supreme Treves Private Limited.

 

Others:

Total Facilities:

SVC Bank:

TL (Existing) : Rs.84.267 millions

HDFC Bank:

TL (Existing) : Rs.77.000 millions and Rs.60.224 millions

YES Bank

TL: Rs.85.000 millions (Existing) and Rs.2.500 millions (Existing) and Additional 53.750 millions

------------------------------------------------

Total (all Banks):Rs.362.741 millions

(out of Rs.56.250 millions by Yes Bank liability to be restricted to Rs.14.400 millions (existing Rs.2.500 millions and new Rs.11.900 millions )

Short particulars of the property charged

Linkage mortgage of 24% undivided share Land bearing Plot No.110, Suburban Scheme No. 3 "Singhavi Apartment" at 16th Road, Chembur, Mumbai 400071 area admeas. 1247 sq. yards equivalent to 1042.61sq.mtr

 

Village Chembur, Tal Kurla, CTS No.980 Mumbai along with 24% undivided share in the said incomplete structure admeas. 104.25 sq.mtrs. 3rd and 4th floors adm.213.sq.mtrs.

Linkage mortgage of 20% undivided share of land bearing Plot No 110 Suburban Scheme No. 3 "Singhavi Apartment" at 16th Road, chembur, Mumbai 400071 area admeas. 1247 sq. yards equivalent to1042.61sq.m

 

Village Chembur, Tal Kurla, CTS No.980 Mumbai along with 20% undivided share in the said incomplete structure admeas. 104.25 sq.mtrs. 1st and 2nd floors adm.180.32 sq.mtrs owned by Mr. Mohan Kavrie

 

(out of Rs.56.250 millions by Yes Bank liability to be restricted to Rs.14.400 millions (existing Rs.2.500 millions and new Rs.11.900 millions)

Date of latest modification prior to the present modification

22.01.2013

Particulars of the present modification 

By this modification, the charge shall hold good to secure additional credit facilities of Rs.53.750 millions. Hence total facilities are Rs.362.741 millions. (being SVC Bank: TL (Existing) : Rs.66.267 millions, HDFC Bank:

TL (Existing): Rs.77.000 millions and Rs.60.224 millions, YES Bank TL: Rs.85.000 millions (Existing) and Rs.2.500 millions Existing (additional 53.750 millions) (out of Rs.56.250 millions by Yes Bank liability to be restricted to Rs.14.400 millions (existing Rs.2.500 millions and new 11.900 millions).Hence the charge stands modified at Rs.320.891 millions.

 

FIXED ASSETS:

 

·         Land

·         Residential Building

·         Office Building

·         Factory Building

·         Plant and Equipment

·         Other Plant and Equipment

·         Furniture and Fixtures

·         Vehicles

·         Office Equipment

·         Computer Equipments

·         Goodwill

·         Technical Knowhow

 

 

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 exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

 

3]         Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

 

4]         Record on Financial Crime :

            Charges or conviction registered against subject:                                                              None

 

5]         Records on Violation of Anti-Corruption Laws :

            Charges or investigation registered against subject:                                                          None

 

6]         Records on Int’l Anti-Money Laundering Laws/Standards :

            Charges or investigation registered against subject:                                                          None

 

7]         Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

 

8]         Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

 

9]         Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

 

10]        Press Report :

            No press reports / filings exists on the subject.

 

 

CORPORATE GOVERNANCE

 

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

 

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

 

 

CONTRAVENTION

 

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.39

UK Pound

1

Rs.82.32

Euro

1

Rs.69.54

 

 

INFORMATION DETAILS

 

Information Gathered by :

NYN

 

 

Report Prepared by :

SMN

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

4

PAID-UP CAPITAL

1~10

4

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

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

54

 

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.