MIRA
INFORM REPORT
|
Report Date : |
10.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
DELTA FINOCHEM PRIVATE LIMITED |
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Registered
Office : |
Plot No.121, MIDC, Satpur,
Nashik-422007, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
01.02.2000 |
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Com. Reg. No.: |
11-123980 |
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Capital
Investment / Paid-up Capital : |
Rs. 9.000 Millions |
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|
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CIN No.: [Company Identification
No.] |
U24100MH2000PTC123980 |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacture and Exporter of Pharmaceutical Intermediates |
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No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1200000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having a good track record.
Financial position of the company appears to be strong. Performance capability
it high liquidity position is good. Trade relations are reported to be fair. Business is active. Payments
are reported to be regular and as per commitment. The company can be considered for normal business dealings at usual
trade terms and condition. |
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 |
BBB- (Long Term Rating) |
|
Rating Explanation |
Having moderate degree of safety regarding timely servicing of
financial obligation. It carry moderate credit risk. |
|
Date |
August 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 PARTED BY
|
Name : |
Mr. Kango |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-9822452312 |
|
Date : |
09.04.2013 |
LOCATIONS
|
Registered Office : |
Plot No.121, MIDC, Satpur,
Nashik-422007, Maharashtra, India |
|
Tel. No.: |
91-253-2350554 |
|
Mobile No.: |
91-9822452312 (Mr. Kango) |
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Fax No.: |
91-253-2353798 |
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E-Mail : |
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Location : |
Leased |
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|
|
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Factory : |
Gat No.350, Village Wadivarhe, Taluka Igatpuri, District Nashik,
Maharashtra, India |
|
Tel. No.: |
91-2553-306251 / 52 |
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Fax No.: |
91-2553-306260 |
DIRECTORS
AS ON 28.09.2012
|
Name : |
Mr. Sharayu Dattatraya Deshmukh |
|
Designation : |
Director |
|
Address : |
5, Eden Garden, Plot No-173 A, Mahatma |Nagar, Nashik-422007,
Maharashtra, India |
|
Date of Birth/Age : |
17.04.1942 |
|
Date of Appointment : |
01.02.2000 |
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DIN No.: |
00014928 |
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|
|
|
Name : |
Mr. Sandeep Dattatray Deshmukh |
|
Designation : |
Director |
|
Address : |
Plot No.178 A, Near Ganapati Temple, Mahatma Nagar, Nashik-422007,
Maharashtra, India |
|
Date of Birth/Age : |
26.10.1966 |
|
Date of Appointment : |
01.02.2000 |
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DIN No.: |
00011060 |
KEY EXECUTIVES
|
Name : |
Mr. Kango |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.09.2012
|
Names of Shareholders |
No. of Shares |
|
Sharayu Dattatraya Deshmukh |
788400 |
|
Sandeep Dattatray Deshmukh |
18010 |
|
Dattatray Shantaram Deshmukh |
93580 |
|
Alpana Sandeep Deshmukh |
10 |
|
TOTAL
|
900000 |
AS ON 28.09.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Directors or relatives of Directors |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacture and Exporter of Pharmaceutical Intermediates |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
·
Germany |
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Terms : |
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Selling : |
Cash, Credit |
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Purchasing : |
Cash, Credit |
GENERAL INFORMATION
|
Customers : |
·
Wholesalers ·
Retailers |
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No. of Employees : |
150 (Approximately) |
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Bankers : |
·
State Bank of India, Satpur Industrial Area,
Satpur, Nashik-422007, Maharashtra, India
·
HDFC Bank ·
ICICI Bank |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
M M Pandit and Company Chartered Accountant |
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Address : |
312, Sarda Sankul, M G Road, Nashik-422001, Maharashtra, India |
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PAN No.: |
BFHPS9603C |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2900000 |
Equity Shares |
Rs.10/- each |
Rs. 29.000 Millions |
|
10000 |
10% Non Cumulative Redeemable Preference Shares |
Rs.100/- each |
Rs. 1.000 Million |
|
|
TOTAL |
|
Rs. 30.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
900000 |
Equity Shares |
Rs.10/- each |
Rs. 9.000
Millions |
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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 |
9.000 |
9.000 |
9.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
301.277 |
230.008 |
148.338 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
310.277 |
239.008 |
157.338 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
90.869 |
56.050 |
52.135 |
|
|
2] Unsecured Loans |
3.887 |
4.099 |
4.099 |
|
|
TOTAL BORROWING |
94.756 |
60.149 |
56.234 |
|
|
DEFERRED TAX LIABILITIES |
7.294 |
5.257 |
4.287 |
|
|
|
|
|
|
|
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TOTAL |
412.327 |
304.414 |
217.859 |
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|
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APPLICATION OF FUNDS |
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|
|
|
|
|
|
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FIXED ASSETS [Net Block] |
196.996 |
98.200 |
94.119 |
|
|
Capital work-in-progress |
1.691 |
13.744 |
0.000 |
|
|
|
|
|
|
|
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INVESTMENT |
35.704 |
31.611 |
3.860 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
64.770
|
56.405 |
30.807 |
|
|
Sundry Debtors |
228.575
|
245.243 |
150.548 |
|
|
Cash & Bank Balances |
1.804
|
2.483 |
1.529 |
|
|
Other Current Assets |
2.019
|
1.744 |
25.340 |
|
|
Loans & Advances |
65.528
|
33.600 |
22.615 |
|
Total
Current Assets |
362.696
|
339.475 |
230.839 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
144.831
|
131.139 |
0.000 |
|
|
Other Current Liabilities |
6.725
|
5.235 |
80.585 |
|
|
Provisions |
33.204
|
42.242 |
30.379 |
|
Total
Current Liabilities |
184.760
|
178.616 |
110.964 |
|
|
Net Current Assets |
177.936
|
160.859 |
119.875 |
|
|
|
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|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.005 |
|
|
|
|
|
|
|
|
TOTAL |
412.327 |
304.414 |
217.859 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
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SALES |
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|
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Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
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TOTAL |
948.932 |
816.795 |
605.200 |
|
|
|
|
|
|
|
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Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
826.186 |
679.482 |
516.012 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
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TOTAL |
826.186 |
679.482 |
516.012 |
|
|
|
|
|
|
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|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
122.746 |
137.313 |
89.188 |
|
|
|
|
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|
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Less/ Add |
DEPRECIATION/
AMORTISATION |
17.131 |
13.284 |
10.905 |
|
|
|
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|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
105.615 |
124.029 |
78.283 |
|
|
|
|
|
|
|
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Less |
TAX |
34.347 |
42.359 |
27.552 |
|
|
|
|
|
|
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|
PROFIT / (LOSS)
AFTER TAX |
71.268 |
81.670 |
50.731 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
791.87 |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
7.51
|
10.00 |
8.38 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
18.87
|
28.34 |
24.09 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.34
|
0.52 |
0.50 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.31
|
0.25 |
0.36 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.96
|
1.90 |
2.08 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
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 |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
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 |
No |
|
34] |
External Agency Rating,
if available |
Yes |
|
Unsecured Loan |
Rs.
In Millions 31.03.2012 |
Rs.
In Millions 31.03.2011 |
|
Long Term
Borrowings |
|
|
|
Sales Tax Deferal Loan |
3.887 |
4.099 |
|
|
|
|
|
TOTAL |
3.887 |
4.099 |
|
Notes Sales Tax
Deferral Loan: a)
Out of Rs.3.887 Millions loan of Rs. 1.061 Millions
is repayable in 5 yearly installments of Rs.0.212 Million each commencing
from 30.04.2011 as per order dated 22.03.2007 and out of this one installment
is paid up to 31.03.2012 b)
Out of Rs.3.887 Millions loan of Rs. 0.068 Million
is repayable in 5 yearly installments of Rs.0.013 Million each commencing
from 30.04.2013 as per order dated 29.06.2006 and out of this no installment
is paid up to 31.03.2012 c)
Out of Rs.3.887 Millions loan of Rs. 1.859
Millions is repayable in 5 yearly installments of Rs. 0.372 Million each
commencing from 30.04.2013 as per order dated 29.06.2006 and out of this no
installment is paid up to 31.03.2012 d)
Out of Rs.3.887 Millions loan of Rs. 0.791
Million is repayable in 5 yearly installments of Rs. 0.158 Million each
commencing from 30.04.2014 as per order dated 27.08.2007 and out of this no
installment is paid 31.03.2012 e)
Out of Rs.3.887 Millions for balance loan of Rs.
0.108 Million no order for repayment)
is yet passed repayment schedule in not determined |
||
SUNDRY CREDITORS
DETAILS
(Rs.
In Millions)
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Sundry Creditors
|
144.831
|
131.139 |
0.000 |
|
|
|
|
|
|
TOTAL |
144.831
|
131.139 |
0.000 |
BACKGROUND
Subject is ISO 9001:2008
certified company manufacturing active pharmaceutical ingredients, drug
intermediates and organic specialities. It’s plant are situated at Wadivarhe,
Gonde and Satpur in Nasik, Its plant is cGMP approvable. With well Equipped
production infrastructure and quality control systems company able to
manufacture quality products consistently. Company's products are exported to
USA, Europe, and SE Asia.
OPERATION
The company has achieved a turnover of Rs. 933.500 Millions during the
current year. The company has good prospects in coming years too, which will
further increase the profitability of the company.
FORM 8
|
Corporate
identity number of the company |
U24100MH2000PTC123980 |
|
Name of the
company |
DELTA FINOCHEM
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Plot No.121, MIDC, Satpur, Nashik-422007, Maharashtra, India |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the charge to be modified |
90160191 |
|
Type of charge |
·
Immovable
property ·
Any
interest in immovable property ·
Book
debts ·
Movable
property (not being pledge) ·
Others |
|
Particular of
charge holder |
State Bank of India, Satpur Industrial Area, Satpur, Nashik-422007,
Maharashtra, India |
|
Nature of
instrument creating charge |
1) Supplemental
Agreement of Loan-cum-Hypothecation, and 2) Memorandum for
Recording Extension of Mortgage by Deposit of Title Deeds for Covering
Enhanced Limits and / or Creation of
Equitable Mortgage on Additional Properties for Existing Limits and Enhanced
Limits and Additional Facilities |
|
Date of
instrument Creating the charge |
21.01.2013 |
|
Amount secured by
the charge |
Rs. 436.700
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest (1) DCC: 3% above
BR (BR=9.75%) effective rate12.75% p.a. (2) SLC: 1% above
DCC, (3) BD, LC and
BG: As Prevailing, (4) Open Term
Loan IV: 4% above BR, i.e.13.75% and Term Loan V: 3% above BR i.e. 12.75% Terms of repayment 1) Working
Capital: Repayable on Demand, subject to review every 12 months. 2) Term Loan- IV
and V: As per the Repayment Schedule given in the Letter of Arrangement. Margin Raw Material 25%,
Stock in Process 33.33%, Finished Goods 33.33%, Book Debts 40%, Cover Period
90 days, Bank Guarantee 25%, Letter of Credit 20%, and Term Loan 25%. Extent and operation of the charge 1) First and exclusive
charge in favour of Bank over the Borrower's present and future all kind of
Stocks, Debtors and entire current assets of the Company. Hypothecation of
machinery and equipment purchased out of Bank finance. Documents of title to
the goods covered under Letter of Credit and goods purchased under Letter of
Credit. 2) First and
exclusive charge on all the immovable properties provided as mortgage and
will be operational till the full satisfaction of the loan amount. |
|
Short particulars
of the property charged (Including location of the property) |
Hypothecation of
Stock and Debtors, and entire current assets present and future located at
Satpur, Wadivarhe and Gonde Plant at Nasik. Hypothecation of
machinery and equipments purchased out
of bank finance. Located at Satpur, Wadivarhe and Gonde Plant at Nasik. Documents of
title to the goods covered under letter of credit and goods purchased under
letter of credit. All that piece
and parcel of land known as Gat No. 350/2, Wadivarhe, Taluka Igatpuri, District
Nashik, admeasuring 20171 Sq.mtrs. and building thereon admeasuring 2556.19
sq. mtrs. All that piece
and parcel of land known as Plot No. 121, in the Satpur Industrial Area,
Satpur, Nashik. Admeasuring 900 sq. mtrs. and the factory building thereon
admeasuring 267.345 sq. mtrs. All that piece
and parcel of land known as Gat No. 504 and 507, Plot No. 18 and 19, Village
Gonde Dumala, Taluka Igatpuri, District Nashik, admeasuring 7200 sq. mtrs.
And RCC construction made thereon. |
|
Date of instrument
modifying the charge |
03.11.2011 |
|
Particulars of
the present modification |
Earlier charge
was created of Rs.271.000 Millions on 03.11.2011. Now by this present
modification the limit is increased to Rs.436.700 Millions. (DCC Rs.150.000
Millions, SLC Rs.22.500 Millions, Term Loan IV Rs. 23.200 Millions, Term Loan V (New)
25.000 Millions, Bill Discounting under LC Rs.10.000 Millions, Letter of
Credit Rs. 200.000 Millions, Bank Guarantee Rs.5.000 Millions, and Credit
Conversion factor of Forward Contract Rs. 1.000 Million, |
FIXED ASSETS
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fitting
·
Furniture and Fixtures
·
Office Equipments
·
Electronic Equipment
·
Scale Platform
·
Fax Machine
·
Type writer
·
Computer
·
Scooter
·
Vehicles
·
Lab Equipment
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 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. 54.46 |
|
|
1 |
Rs. 83.12 |
|
Euro |
1 |
Rs. 70.98 |
INFORMATION DETAILS
|
Information Gathered
by : |
PDT |
|
|
|
|
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 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
50 |
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.