|
Report Date : |
22.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
MEHTA FLEX PRIVATE LIMITED (w.e.f.05.12.2000) |
|
|
|
|
Formerly Known
As : |
MEHTA FLAX PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
B-48, New Empire Industrial Estate, Kondivita Road, Andheri (East),
Mumbai – 400059, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
21.09.1999 |
|
|
|
|
Com. Reg. No.: |
11-121864 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 4.740
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25202MH1999PTC121864 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM14241D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of
all kinds of Plastics Bags, Shrink Tubing and Films. |
|
|
|
|
No. of Employees
: |
75 [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 1340000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
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|
|
|
Litigation : |
Clear |
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|
Comments : |
Subject is an established company having a satisfactory track record.
The latest financial are not available. As per the financial of 2011, the company performance seems to be
good. Trade relations are reported to be fair. Business is active. Payments
are reported to be usually correct. The company can be considered for normal 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
We are living in a world
where volatility and uncertainty have become the New Normal. We saw a
change of government in countries like Tunisia, Egypt, Libya and Vietnam. Once
powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve
their business models with the changing time. Readers’ Digest, Thomson Register
are no more !
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years
to double its economic output per person during its industrial revolution and the
US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years
respectively. By 2020, emerging Asia will become the world’s largest consuming
block, overtaking North America.
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial years
of the contagion but finally lost ground last year. GDP growth slowed down.
Currency has been weakening. There is a marked deceleration in agriculture,
industry and services. Dampening sentiment led to a cut-back in investment as
well as private consumption expenditure. Inflation remained at high
levels fuelled by the pressure from the food and fuel sectors. The large fiscal
and current account deficit s continued to cause grave concern. It is
imperative that India regains its growth trajectory of 8-9 % sooner than later.
This is crucially important given the need to create gainful livelihood
opportunities for the millions living in poverty as also the large contingent
of young people joining the job market every year.
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 [GENERAL DETAILS]
|
Name : |
Mr. Deepak |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-22-28324463 |
|
Date : |
21.08.2013 |
LOCATIONS
|
Registered Office : |
B-48, New Empire Industrial Estate, Kondivita Road, Andheri (East),
Mumbai – 400059, Maharashtra, India |
|
Tel. No.: |
91-22-28324463/ 28365625/ 28366208/ 28378757/ 28394888/ 28320910 |
|
Fax No.: |
91-22-28365901 |
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E-Mail : |
|
|
Website: |
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|
Location : |
Owned |
|
|
|
|
Factory : |
Survey No. 376/2 (4,5,6) and 376/8, Zaricauseway Road, Kachigam, Daman,
Daman and Diu, India |
DIRECTORS
AS ON 27.09.2012
|
Name : |
Mr. Vijay Nagraj Mehta |
|
Designation : |
Director |
|
Address : |
402, Bharat Apartment, |
|
Date of Birth/Age : |
06.06.1964 |
|
Date of Appointment : |
21.09.1999 |
|
DIN No.: |
00898178 |
|
|
|
|
Name : |
Mr. Ranjit Nagraj Mehta |
|
Designation : |
Director |
|
Address : |
402, Bharat Apartment, |
|
Date of Birth/Age : |
01.07.1958 |
|
Date of Appointment : |
21.09.1999 |
|
DIN No.: |
00898061 |
KEY EXECUTIVES
|
Name : |
Mr. Deepak |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 27.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Kantilal Mehta |
|
72000 |
|
Nirmala Mehta |
|
50000 |
|
Pratik Mehta |
|
21000 |
|
Rahul Mehta |
|
85000 |
|
Ranjit Mehta |
|
86000 |
|
Ranjit N Mehta [HUF] |
|
1000 |
|
Sunita Mehta |
|
71000 |
|
Usha Mehta |
|
1000 |
|
Vijay Mehta |
|
87000 |
|
|
|
|
|
Total |
|
474000 |
AS ON 27.09.2012
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Directors or
relatives of Directors |
|
100.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of
all kinds of Plastics Bags, Shrink Tubing and Films. |
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Products : |
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Terms : |
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Selling : |
L/C and Credit |
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Purchasing : |
L/C and Credit |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Licensed Capacity |
Installed Capacity |
Actual Production |
|
|
|
|
|
|
|
Multilayer Co-Extruted Films and Bags |
KG |
NA |
10,100 |
6,542,189.70 |
GENERAL INFORMATION
|
Customers : |
Retailers and End Users Oil Packaging
Film · Bunge India Private Limited · Kalisuwari Refinery Private Limited · K.L.F. Oil Industry Private Limited · M.K. Agro Tech Private Limited · Poonam Dal and Oil Industries Limited · Ruche Soy Industries · Liberty Oil Mills · Kamani Oil Industries · Raj Oil Mills · B.L. Agro Industries PET/Poly and PE/
PE Laminated Film · Natural Remedies Private Limited · Neo Petcon (India) Private Limited · K.L.F. Oil Industries · V.V.V. and Sons Milk/ Ghee
Packaging Film · Kolhapur Zilla Sahakari Dudh Utpadak Sangh Limited · Warana Sahakari Dudh Utpadak Sangh Limited · Sinnar Taluka Vibhagiya Sahakari Dudh Sangh · Kerala Co-op Milk Marketing Federation · Hatsun Agro Tech Limited · Reliance Dairy Food Limited · Paras Dairy Shrink Packaging
Film · SAB Miller · AGI Glaspac · Pepsico India · Hindustan Coca-Cola Beverages Private Limited Lamination Film · Paper Products Limited |
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No. of Employees : |
75 [Approximately] |
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Bankers : |
· HDFC Bank Limited HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai –
400013, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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|
|
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Auditors : |
|
|
Name : |
R Trivedi and Associates Chartered Accountants |
|
Address : |
119, Ranjit Studio, G-Block, Ground Floor, D.S.P Road, Dadar (East),
Mumbai-400014, Maharashtra, India |
|
PAN No.: |
AABPT8670Q |
|
|
|
|
Associates : |
v
Barrier Films Private Limited v
Clearex Flims v
Metropolythene Manufacturers v
Anand Polyrotex |
CAPITAL STRUCTURE
AS ON 27.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
474000 |
Equity Shares |
Rs.10/- each |
Rs. 4.740
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 |
4.740 |
4.740 |
4.710 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
329.131 |
263.516 |
170.402 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
333.871 |
268.256 |
175.112 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
52.515 |
40.968 |
30.675 |
|
|
2] Unsecured Loans |
104.900 |
104.873 |
84.180 |
|
|
TOTAL BORROWING |
157.415 |
145.841 |
114.855 |
|
|
DEFERRED TAX LIABILITIES |
8.277 |
9.948 |
5.996 |
|
|
|
|
|
|
|
|
TOTAL |
499.563 |
424.045 |
295.963 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
280.481 |
330.903 |
223.457 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
78.300
|
65.452 |
29.484
|
|
|
Sundry Debtors |
113.849
|
106.147 |
96.969
|
|
|
Cash & Bank Balances |
8.673
|
12.984 |
24.126
|
|
|
Other Current Assets |
0.000
|
0.000 |
0.000
|
|
|
Loans & Advances |
48.726
|
61.548 |
32.392
|
|
Total
Current Assets |
249.548
|
246.131 |
182.971
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
22.985
|
140.475 |
109.908
|
|
|
Other Current Liabilities |
0.045
|
0.465 |
0.422
|
|
|
Provisions |
7.436
|
12.049 |
0.135
|
|
Total
Current Liabilities |
30.466
|
152.989 |
110.465
|
|
|
Net Current Assets |
219.082
|
93.142 |
72.506
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
499.563 |
424.045 |
295.963 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income (Sale of Products and Services) |
977.619 |
971.052 |
567.539 |
|
|
|
Other Income |
4.617 |
4.754 |
1.890 |
|
|
|
TOTAL (A) |
982.236 |
975.806 |
569.429 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing and Other Expenses |
834.756 |
808.594 |
494.742 |
|
|
|
TOTAL (B) |
834.756 |
808.594 |
494.742 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
147.480 |
167.212 |
74.687 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
11.632 |
7.805 |
11.009 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
135.848 |
159.407 |
63.678 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
49.223 |
38.074 |
29.710 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
86.625 |
121.333 |
33.968 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
21.009 |
28.219 |
10.231 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
65.616 |
93.114 |
23.737 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
261.317 |
168.203 |
144.466 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
326.933 |
261.317 |
168.203 |
|
|
|
|
|
|
|
|
|
|
Basic/ Diluted
Earnings Per Share (Rs.) |
138.43 |
196.44 |
50.40 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
6.68
|
9.54 |
4.17
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.86
|
12.49 |
5.98
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
16.34
|
21.03 |
8.35
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.26
|
0.45 |
0.19
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.47
|
0.54 |
0.66
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
8.19
|
1.61 |
1.65
|
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 |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
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 |
No |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Director, if available |
Yes |
|
32] |
PAN of Director, if
available |
No |
|
33] |
Voter ID No of Director,
if available |
No |
|
34] |
External Agency Rating,
if available |
No |
CURRENT MATURITIES
OF LONG TERM DEBT: NOT AVAILABLE
UNSECURED LOANS
|
Particulars |
31.03.2011 |
31.03.2010 |
|
|
(Rs. in Millions) |
|
|
Loan from Directors, Shareholders and Others |
104.900 |
104.873 |
|
Total |
104.900 |
104.873 |
OPERATING RESULTS:
During the year the company has recorded the Total Income of Rs. 982.236
Millions and made a Net Profit of Rs. 65.616 Millions (Previous year, Net
Profit of Rs. 93.114 Millions) during the coming year the company expected to
achieve better receipts and net income.
FORM 8:
|
Corporate
identity number of the company |
U25202MH1999PTC121864 |
|
Name of the
company |
MEHTA FLEX PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
B-48, New Empire Industrial Estate, |
|
This form is for |
Modification of
charge |
|
Charge
Identification Number (ID) number of the charge to be modified |
80056124 |
|
Type of charge |
Immovable Property |
|
Particular of
charge holder |
HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel
(West), Mumbai – 400013, Maharashtra, India Email: rbbform8@hdfcbank.com
|
|
Nature of
instrument creating charge |
Memorandum
recording past transactions of creation of Mortgage by Delivery of Title
Deeds. |
|
Date of
instrument Creating the charge |
25.07.2011 |
|
Amount secured by
the charge |
Rs.146.500
Millions |
|
Brief of the
principal terms and conditions and extent and operation of the charge |
Rate of Interest Interest at the
rate as may be communicated by the bank from time to time Terms of Repayment Working Capital
facility shall payable on demand Term Loan
facility shall repayable in suitable installments Margin As may be
stipulated by the bank from time to time Extent and Operation of the charge The company accorded
and gave oral consent to Bank to continue to hold and retain the title deeds
(by way of Constructive delivery) in respect of its immovable properties as
security for repayment of Rs. 131.500 Millions by the company, together with
principal, interests, liquidated damages, costs, charges and expenses. Others Nil |
|
Short particulars
of the property charged |
Immovable
properties situated at Factory Land and Building at Survey No. 376/2,
Kachigam, Nani Daman. Immovable
properties situated at Factory Land and Building at Survey No. 376/8, Plot No
5, Kachigam, Daman. |
|
Date of latest
modification prior to the present modification |
01.11.2010 |
|
Particulars of
the present modification |
The charge shall now
increased from Rs.131.500 Millions to Rs.146.500 Millions in favour the Bank
against the equitable mortgage of immovable properties being situated at
Kachigam, Nani Daman. |
FIXED ASSETS:
v Freehold Land
v Buildings
v Plant and Machinery
v Motor Vehicles
v Furniture and Fixtures
v Office Equipments
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. 63.46 |
|
UK Pound |
1 |
Rs. 99.42 |
|
Euro |
1 |
Rs. 85.12 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
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.