MIRA INFORM REPORT
|
Report Date : |
09.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
V.M. POLYTEX LIMITED |
|
|
|
|
Registered
Office : |
House No.C-4/28, Sector-3, Udaya Nagar, Tatibandh, Raipur – 492099, Chhattisgarh
– 492099 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
14.06.2006 |
|
|
|
|
Com. Reg. No.: |
10-020010 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.7.420 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25209CT2006PLC020010 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Bulk Bags Sacks, Packaging Products. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 65000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. The profitability of the company is low. There appears huge external
borrowings recorded by the company which acts as a threat to the company’s
liquidity. However, trade relations are reported as fair. Business is active.
Payments terms are slow. The company can be considered for business dealings with great
caution. |
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) |
|
|
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 |
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 BY
|
Name : |
Mr. Shivraj |
|
Designation : |
Account Head |
|
Contact No.: |
91-491-2566314/ 91-9746471723 |
|
Date : |
30.03.2012 |
LOCATIONS
|
Registered Office : |
House No.C-4/28, Sector-3, Udaya Nagar, Tatibandh, Raipur – 492099,
Chhattisgarh – 492099, India |
|
Tel. No.: |
91-771-2562109 |
|
Fax No.: |
91-771-2562109 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
Old Industrial Area, Behind KSEB Substation, Kanjikode West, Palakkad
– 678623, Kerala, India |
|
Tel. No.: |
91-491-2567214/ 2566314 |
DIRECTORS
(AS ON 27.09.2012)
|
Name : |
Mr. Thomas George Edappadiyil |
|
Designation : |
Director |
|
Address : |
C-428, Sector - 3, Udaya Nagar, Tatibhand, Raipur – 493221,
Chhattisgarh, India |
|
Date of Birth/Age : |
14.10.1959 |
|
Date of Appointment : |
14.06.2006 |
|
DIN No.: |
01621897 |
|
PAN No.: |
ABLPT2750J |
|
|
|
|
Name : |
Mrs. Jenny Thomas |
|
Designation : |
Director |
|
Address : |
C-428, Sector – 3, Udaya Nagar, Tatibhand, Raipur – 493221,
Chhattisgarh, India |
|
Date of Birth/Age : |
28.08.1963 |
|
Date of Appointment : |
14.06.2006 |
|
DIN No.: |
01746575 |
|
PAN No.: |
ABLPT2751K |
|
|
|
|
Name : |
Mr. Madhav Vijay Kumar |
|
Designation : |
Director |
|
Address : |
D-24/21, Gayatri Nagar, Raipur – 492001, Chhattisgarh, India |
|
Date of Birth/Age : |
02.06.1955 |
|
Date of Appointment : |
14.06.2006 |
|
DIN No.: |
01746368 |
KEY EXECUTIVES
|
Name : |
Mr. Shivraj |
|
Designation : |
Account Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 27.09.2012)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Thomas George |
|
24750 |
|
Jenny Thomas |
|
24750 |
|
Nimmy Thomas |
|
100 |
|
M.V. Kumar |
|
100 |
|
Latha R. |
|
100 |
|
Ashish. K. Nair |
|
100 |
|
C. Govind Rajan |
|
100 |
|
|
|
|
|
Total |
|
50000 |
(AS ON 28.12.2012)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
20.61 |
|
Directors or relatives of directors |
|
64.47 |
|
Other top fifty shareholders |
|
14.92 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Bulk Bags Sacks, Packaging Products. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||
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|||||||||||||||||||||||||||
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Bankers : |
· Indian Overseas Bank Kanjikode Branch, Near KTC, N. H.47, Kanjikode West, (P.O.) District Palakkad,
Kanjikode – 678623, Kerala, India · The South Indian Bank Raipur, Chhattisgarh, India |
|||||||||||||||||||||||||||
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Facilities : |
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|||||||||||||||||||||||||||
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Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
BK and Associates Chartered Accountant |
|
Address : |
H. No. 28/779, Opposite Jain Mandir, Near TV Tower, Shankar Nagar,
Raipur – 492007, Chhattisgarh, India |
|
Tel. No.: |
91-771-2282333 (O) |
|
Mobile no.: |
91-9425208397 |
|
PAN No.: |
AJUPK7405Q |
|
Email : |
|
|
|
|
|
Enterprises
significantly influenced by key Management personnel or their relatives : |
Citadel Hydraulics and Electricals Private Limited. |
CAPITAL STRUCTURE
(AS ON 31.03.2012)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
750000 |
Equity Shares |
Rs.10/- each |
Rs.7.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
742000 |
Equity Shares |
Rs.10/- each |
Rs.7.420
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 |
7.420 |
7.420 |
7.420 |
|
|
2] Share Application Money |
10.410 |
10.410 |
10.410 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(1.613) |
(2.157) |
(1.847) |
|
|
NETWORTH |
16.217 |
15.673 |
15.983 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
51.526 |
52.930 |
53.183 |
|
|
2] Unsecured Loans |
15.610 |
15.410 |
17.505 |
|
|
TOTAL BORROWING |
67.136 |
68.340 |
70.688 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
83.353 |
84.013 |
86.671 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
64.547 |
59.473 |
62.498 |
|
|
Capital work-in-progress |
0.000 |
1.669 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.345 |
0.345 |
0.000 |
|
|
DEFERREX TAX ASSETS |
2.007 |
1.704 |
2.109 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
20.588
|
13.545 |
6.824 |
|
|
Sundry Debtors |
4.536
|
7.371 |
5.316 |
|
|
Cash & Bank Balances |
2.110
|
5.005 |
7.079 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
7.447
|
7.123 |
7.919 |
|
Total
Current Assets |
34.681
|
33.044 |
27.138 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
10.167
|
7.317 |
4.089 |
|
|
Other Current Liabilities |
7.515
|
4.462 |
0.840 |
|
|
Provisions |
0.545
|
0.443 |
0.262 |
|
Total
Current Liabilities |
18.227
|
12.222 |
5.191 |
|
|
Net Current Assets |
16.454
|
20.822 |
21.947 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.117 |
|
|
|
|
|
|
|
|
TOTAL |
83.353 |
84.013 |
86.671 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
178.910 |
139.005 |
99.672 |
|
|
|
Other Income |
1.627 |
5.205 |
2.746 |
|
|
|
TOTAL (A) |
180.537 |
144.210 |
102.418 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Raw Material Consumed |
134.129 |
107.393 |
|
|
|
|
Purchase of Stock in Trade |
0.000 |
0.000 |
|
|
|
|
Change in Inventories of Finished Goods/Work in Progress/Stock in
Trade |
(6.251) |
(0.170) |
96.935 |
|
|
|
Employee Benefit Expenses |
4.520 |
3.436 |
|
|
|
|
Other Expenses |
34.368 |
21.075 |
|
|
|
|
TOTAL (B) |
166.766 |
131.734 |
96.935 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
13.771 |
12.476 |
5.483 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
7.196 |
6.385 |
5.884 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
6.575 |
6.091 |
(0.401) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
6.276 |
5.975 |
6.431 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
0.299 |
0.116 |
(6.832) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(0.246) |
0.427 |
(2.110) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
0.545 |
(0.311) |
(4.722) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(5.033) |
(4.722) |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(4.488) |
(5.033) |
(4.722) |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
15.299 |
NA |
NA |
|
|
TOTAL IMPORTS |
15.299 |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.33 |
0.13 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.30
|
(0.22) |
(4.61) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.17
|
0.08 |
(6.85) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.30
|
0.13 |
(7.62) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02
|
0.01 |
(0.43) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
4.14
|
4.36 |
4.42 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.90
|
2.70 |
5.23 |
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 |
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 |
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 |
No |
|
34] |
External Agency Rating, if available |
No |
UNSECURED LOANS
|
Particulars |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
|
|
|
|
|
|
From Companies |
4.965 |
4.965 |
|
From Directors |
10.645 |
10.445 |
|
|
|
|
|
Total |
15.610 |
15.410 |
PERFORMANCE
During the year under
review, the company could achieve a turnover of Rs.187.121 Millions. The
Directors are hopeful of achieving still better performance during the current
year.
FORM 8
|
This form is for |
Modification of
charge |
|
Charge identification
number of the modified |
10218522 |
|
Corporate
identity number of the company |
U25209CT2006PLC020010 |
|
Name of the
company |
V.M. POLYTEX
LIMITED |
|
Address of the
registered office or of the principal place of business in |
House No. C-4/28,
Sector – 3, Udaya Nagar, Tatibandh, Raipur – 492099, Chhattisgarh, India |
|
Type of charge |
Immovable property Book Debts Movable Property |
|
Particular of
charge holder |
Indian Overseas
Bank Kanjikode Branch,
Near KTC, N.H.47, Kanjikode West, (P.O.) District Palakkad, Kanjikode –
678623, Kerala, India |
|
Nature of description
of the instrument creating or modifying the charge |
Letter of
Hypothecation (for securing machineries/ vehicle/ goods/ book debts) Letter of
Hypothecation (in case of open advance only) Hypothecation of
book debts Evidencing
Creation of Supplemental Mortgage Credit sanction
advice |
|
Date of
instrument Creating the charge |
21/08/2012 |
|
Amount secured by
the charge |
Rs.57.500
Millions |
|
Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Rate of Interest 3% over Base Rate
Minimum 13.5% Terms of
Repayment Term Loan - 60
monthly installments after initial holiday period of 12 months Margin 25% on Term Loan 25% on C.C.
Hypothecation-stock and book debts. 10% on
FDDBP/FDUBD 25% on LC favouring
DGFT. Extent and
Operation of the charge Cash Credit Rs.
20.000 Millions Term Loan Rs.
24.000 Millions Packing Credit
Rs. 7.000 Millions LC/LG Rs. 3.500
Millions 10 B SME-INSTA
Rs. 3.000 Millions Others Book debts of
present and future. |
|
Short particulars
of the property charged |
143 Cents with
factory building approximately measuring 25131 sq. ft. in survey nos.
463/1pt, 601/pt At Pudussery Central village, IDA, Palakkad Taluk, Palakkad
District in the name of the company. 1.5429 hectares
of land in Sy. No. 97/12, 114/5 (old Sy No. 1397/2) Block No. 32 TP 969, 222
of Pudussery Amsom, Pudussery east village Pallakad Taluk in the name of V.M.
Polytex Limited. RDP in the name
of the Company. Hypothecation of
plant and machineries of present and future. Hypothecation of
stock and book debts. |
|
Date of latest
modification prior to the present modification |
01/02/2011 |
|
Particulars of
the present modification |
In the earlier 2nd
modification the overall limit sanctioned was Rs.68.500 Millions which is
modified being 3rd modification for Rs.57.500 Millions Land
admeasuring "1 acre and 99 cents of land in Puducherry East Village,
Amsam and Desam, Palakkad Tahluk in old survey 1323/3C,1323/2B, 3A 1pt is
released. |
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.54.72 |
|
|
1 |
Rs.83.88 |
|
Euro |
1 |
Rs.71.05 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYN |
|
|
|
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
27 |
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.