MIRA
INFORM REPORT
|
Report Date : |
26.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
SUJAN IMPEX PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
105, Bombay
Samachar Marg, 1st Floor, Road No. 10, Fort, Mumbai – 400023,
Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
17.07.1996 |
|
|
|
|
Com. Reg. No.: |
11-101179 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 0.317
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51900MH1996PTC101179 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS39058F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCS2106G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader and Importer of Fabrics. |
|
|
|
|
No. of Employees
: |
15 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (52) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 275700 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established company having a good track record.
Financially company seems to be performing well. Liquidity position is good.
Trade relations are reported to be fair. Business is active. Payments are
reported to be regular and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
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. Tiwari |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-22-66969381 |
|
Date : |
23.08.2013 |
LOCATIONS
|
Registered Office : |
105, Bombay
Samachar Marg, 1st Floor, Road No. 10, Fort, Mumbai – 400023,
Maharashtra, India |
|
Tel. No.: |
91-22-66969381/ 2 |
|
Fax No.: |
91-22-66969384 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Corporate Office : |
C – 3, Nanddham
Industrial Estate, Marol Maroshi Road, Andheri [East] Mumbai – 400059, Maharashtra, India |
|
Tel. No.: |
91-22-66969381/ 82 |
|
Fax No.: |
91-22-66969384 |
|
E-Mail : |
|
|
|
|
|
Warehouse : |
Shed No. L/19/5 and 6, GIDC Industrial, Area, Por, Ramangamdi,
Baroda-391243, Gujarat, India |
|
Tel. No.: |
91-265-2831529 |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Ravindra Khushalchand Mehta |
|
Designation : |
Director |
|
Address : |
B 104,
Harshvardhan Society, Shkivihar Road, Sakhinaka, Andheri [East], Mumbai –
400072, Maharashtra, India |
|
Date of Birth/Age : |
01.05.1961 |
|
Date of Appointment : |
01.10.1997 |
|
DIN No.: |
01742781 |
|
|
|
|
Name : |
Mr. Girish Chinubhai Parikh |
|
Designation : |
Director |
|
Address : |
10, Bapuji Niwas,
6th Road, Santacruz [East], Mumbai - 400072, Maharashtra, India |
|
Date of Birth/Age : |
18.01.1961 |
|
Date of Appointment : |
01.10.1997 |
|
DIN No.: |
00691233 |
KEY EXECUTIVES
|
Name : |
Mr. Tiwari |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Girish C. Parikh |
|
750 |
|
C. R. Parikh |
|
375 |
|
Manjari G. Parikh |
|
14325 |
|
Ravindra K Mehta |
|
3825 |
|
Meena R Mehta |
|
4500 |
|
Ravindra K Mehta HUF |
|
6750 |
|
Pushpavati K Mehta |
|
750 |
|
Kusum C. Parikh |
|
375 |
|
|
|
|
|
Total |
|
31650 |
AS ON 29.09.2012
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Directors
or relatives of directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader and Importer of Fabrics. |
|
|
|
|
Imports : |
|
|
Products : |
Fabrics |
|
Countries : |
· France |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
Wholesalers, Retailers and End Users |
|
|
|
|
No. of Employees : |
15 (Approximately) |
|
|
|
|
Bankers : |
Citi Bank, Fort Branch, Mumbai, Maharashtra, India [Tel No.:
91-22-26532205] |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Naresh and Company Chartered Accountants |
|
Address : |
210-203, City Enclave, Opposite Polo Ground, Bagikhana, Vadodara –
390001, Gujarat, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AACFM7595C |
|
|
|
|
Enterprise over which Key Managerial Person have
significant Influence : |
· Suman Udyog Private Limited Joy Architronic Products Private Limited Sprech Tenso-Structures Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50,000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
31,650 |
Equity Shares |
Rs. 10/- each |
Rs. 0.317
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
0.317 |
0.317 |
|
(b) Reserves & Surplus |
|
68.615 |
51.836 |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
|
68.932 |
52.153 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long
term liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
0.000 |
0.000 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
0.263 |
6.566 |
|
(b)
Trade payables |
|
25.713 |
33.223 |
|
(c)
Other current liabilities |
|
0.905 |
1.212 |
|
(d) Short-term
provisions |
|
8.090 |
6.165 |
|
Total Current
Liabilities (4) |
|
34.971 |
47.166 |
|
|
|
|
|
|
TOTAL |
|
103.903 |
99.319 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
5.868 |
6.412 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
9.251 |
7.539 |
|
(c) Deferred tax assets (net) |
|
0.262 |
0.267 |
|
(d) Long-term Loan and Advances |
|
0.593 |
0.042 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
15.974 |
14.260 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.028 |
0.000 |
|
(b)
Inventories |
|
32.218 |
48.163 |
|
(c)
Trade receivables |
|
38.495 |
28.216 |
|
(d) Cash
and cash equivalents |
|
9.037 |
1.704 |
|
(e)
Short-term loans and advances |
|
8.151 |
6.976 |
|
(f)
Other current assets |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
87.929 |
85.059 |
|
|
|
|
|
|
TOTAL |
|
103.903 |
99.319 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
0.422 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
52.650 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
53.072 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
2.316 |
|
|
TOTAL BORROWING |
|
|
2.316 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
55.388 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
5.482 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
5.306 |
|
|
DEFERREX TAX ASSETS |
|
|
0.272 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
21.448 |
|
|
Sundry Debtors |
|
|
33.290 |
|
|
Cash & Bank Balances |
|
|
3.698 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
6.712 |
|
Total
Current Assets |
|
|
65.148 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
14.972 |
|
|
Other Current Liabilities |
|
|
0.756 |
|
|
Provisions |
|
|
5.092
|
|
Total
Current Liabilities |
|
|
20.820 |
|
|
Net Current Assets |
|
|
44.328 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
55.388 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
171.380 |
124.374 |
98.463 |
|
|
|
Other Income |
0.889 |
0.330 |
NA |
|
|
|
TOTAL |
172.269 |
124.704 |
NA
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
147.395 |
106.160 |
NA
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
24.874 |
18.544 |
14.710 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
8.095 |
6.170 |
4.949 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
16.779 |
12.374 |
9.761 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Export |
0.000 |
4.319 |
4.053 |
|
|
|
Air Freight |
0.000 |
0.272 |
0.000 |
|
|
|
Commission Received |
0.053 |
2.290 |
0.000 |
|
|
TOTAL EARNINGS |
0.053 |
6.881 |
4.053 |
|
|
|
|
|
|
|
|
|
|
CIF VALUE OF
IMPORTS |
101.876 |
110.263 |
44.507 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
530.13 |
305.97 |
231.31 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
9.74
|
9.92 |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
14.51
|
14.91 |
14.94 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
26.35
|
20.26 |
20.83 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.36
|
0.36 |
0.28 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00
|
0.13 |
0.04 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.51
|
1.80 |
3.13 |
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 |
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 |
No |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
Note:
·
CURRENT MATURITIES
OF LONG TERM DEBT: NOT AVAILABLE
·
INDEX OF CHARGES: NO
CHARGES EXIST FOR COMPANY
UNSECURED LOANS
|
Unsecured Loans |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
|
|
SHORT TERM
BORROWINGS |
|
|
|
From Members |
0.000 |
6.190 |
|
From Inter Corporate
Deposit |
0.263 |
0.376 |
|
Total |
0.263 |
6.566 |
GENERAL
INFORMATION
Subject was incorporated in July 1996 to carry on the business of trading principally in fabrics and textiles. The Present Management has been conducting the trading activities in imported fabrics for various applications since more than 10 years. They have a rich experience of the industry and products also have very good demand in India. The Company has an excellent track record of turnover and healthy profits.
FINANCIAL RESULTS
During the year,
Company has achieved a turnover of Rs. 171.380 Millions (PY Rs. 124.374
Millions) which is more than 35% rise. Despite the adverse economic conditions,
the Company has continued on its growth path registering 35% rise in turnover
on back of 25% rise in the preceding year. Once gain the turnover achieved as
well as the growth rate is the highest in our history. The margins also
continued to remain good. On account the fantastic growth, the Company was able
to achieve a healthy pre-tax profitability of Rs. 24.874 Millions as compare to
Rs. 18.544 Millions preceding year. Despite certain write-offs of bad debts,
payment of old statutory dues now assessed and also increase in employees cost,
the Company has maintained its Net Profit margin at same levels as earlier
years. This means that in value terms, the growth in profit is also almost 35%
in line with the rise in turnover. Overall, the Company has achieved a post tax
profitability of Rs. 16.778 Millions which translates into a whopping Rs.
53.013 earning per equity shares.
Despite the
apprehensions, they managed to avoid the recessionary trend in the last year.
However, they do expect that the Recessionary trends are likely to hit their
company sooner or later since there is as slowdown in infrastructure growth
which will indirectly impact their Company also. Yet with continued focus and
thrust on development and growth of business while also looking at other avenues
of business, though the percentage growth may reduce, we still expect higher
volumes and profitability in pure terms in the coming year.
FIXED ASSETS:
· Land at Baroda
· Building at Baroda
· Air Conditioner
· Fax Machine
· Mobile Phone
· Telephone System
· Furniture and Fixtures
· Office Equipments
· Security System
· Vehicles
· Software
· Computer System
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. 64.69 |
|
|
1 |
Rs. 100.80 |
|
Euro |
1 |
Rs. 86.30 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
52 |
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.