MIRA
INFORM REPORT
|
Report Date : |
09.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
TULSI PAPER MILLS PRIVATE LIMITED (w.e.f. 24.11.2009) |
|
|
|
|
Formerly Known As
: |
RANBHUMI COMMODITIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
70, Cotton
Street, 2nd Floor, Kolkata – 700 007, West Bengal |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
25.01.2007 |
|
|
|
|
Com. Reg. No.: |
21-112757 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.2.750
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51109WB2007PTC112757 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Importer of Paper and Paper Board. |
|
|
|
|
No. of Employees
: |
80 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 666000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Even though the company was incorporated as on January 25, 2007, it
has started its business activity from March 2013. In its first year of business operations, the company has reported a
loss from its operations. External borrowings appears to be increasing over
previous year, during 2013. The ratings also take into consideration the subjects’ operations in
the highly competitive and unorganized industry, susceptibility to volatility
in raw materials and foreign exchange fluctuation. However, trade relations are fair. Business is active. Payment terms
are reported as slow but correct. In view of well experienced management, the company can be considered
for business dealings with some caution. |
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
The current downturn
provides an opportunity to push ahead with reforms to accelerate growth, says
the latest India Development Update report released by the World Bank. The
report says that the adverse effects of rupee depreciation are likely to be
offset by the gains in the exports performance due to improved external
competitiveness. Since May this year, the local currency has depreciated
substantially and fell to a record level of Rs 68.85 to a dollar on August, 28.
A stagflation like situation
appears to have arisen as inflation jumped to an eight month high of 6.46 % for
the month of September. It is up from 6.10 % in August. Growth continues to be
muted with factory output plunging to 0.6 % in August. Onion prices have
risen nearly 300 % from last September. Vegetables cost nearly 90 % more than
they did last year. Wake up to the economic contribution of slum dwellers. They
contribute more than 7.5 % to the country’s gross domestic product, according
to a recent study conducted in 50 top cities.
136000 estimated
number of jobs created during the second quarter of the current financial year.
50000 estimated number of additional jobs in the field of corporate social
responsibility in the coming years.
The International
Finance Corporation expects to come out with its rupee linked bonds issue
before the end of 2013 as a part of its plan to raise $ 1 billion. The Apple
iPhone 5c (Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has
been launched in India from 1st November.
The Land Acquisition
Act to provide just and fair compensation to farmers will come into force from
January 1 next year, said Rural Development Minister Jairam Ramesh. The Act
replaces a 119 year old registration. The Securities and Exchange Board of India
has approved the trading of currency futures on the Bombay Stock Exchange. The
exchange plans to launch the currency futures platform with advanced trading
technology by the end of November.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Bank Facilities: BB- |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
May 09, 2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities: A4 |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
May 09, 2013 |
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. Ashokkumar Khimjibhai Gangani |
|
Designation : |
Director |
|
Contact No.: |
91-9825170382 |
|
Date : |
06.12.2013 |
LOCATIONS
|
Registered Office : |
70, Cotton
Street, 2nd Floor, Kolkata – 700 007, West Bengal, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9825170382 (Mr. Ashokkumar Khimjibhai Gangani) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
|
|
|
Factory : |
Block No.356 to 359, Village: Dastan, Kododara Dadoli Road,
Taluka-Palsana, Surat – 394 110, Gujarat, India |
DIRECTORS
AS ON 13.09.2013
|
Name : |
Mr. Jatan Lal Manikchand Daga |
|
Designation : |
Director |
|
Address : |
A-806, Megh Malhar Apartment, Bhatar Road, Surat – 395 017, Gujarat,
India |
|
Date of Birth/Age : |
04.04.1963 |
|
Date of Appointment : |
01.12.2009 |
|
DIN No.: |
01237883 |
|
|
|
|
Name : |
Mr. Ashok Kumar Manikchand Daga |
|
Designation : |
Director |
|
Address : |
A-805, Megh Malhar Apartment, Bhatar Road, Surat – 395 017, Gujarat,
India |
|
Date of Birth/Age : |
04.07.1973 |
|
Date of Appointment : |
01.12.2009 |
|
DIN No.: |
01479502 |
|
|
|
|
Name : |
Ms. Sarita Lalitkumar Daga |
|
Designation : |
Director |
|
Address : |
B-601, Meghmalhar Apartment, Near Vidhyabharti School, Bhatar Road,
Surat – 395 017, Gujarat, India |
|
Date of Birth/Age : |
01.07.1967 |
|
Date of Appointment : |
01.12.2009 |
|
DIN No.: |
01496868 |
|
|
|
|
Name : |
Mr. Ashokkumar Khimjibhai Gangani |
|
Designation : |
Director |
|
Address : |
30-A, Kala Kunj Society, Varachha Road, Surat – 395 006, Gujarat,
India |
|
Date of Birth/Age : |
21.09.1978 |
|
Date of Appointment : |
01.12.2009 |
|
DIN No.: |
02859243 |
|
|
|
|
Name : |
Ms. Bhavika Mahendra Patel |
|
Designation : |
Director |
|
Address : |
24, Anupam Bunglows, Bharthana, Surat – 395 007, Gujarat, India |
|
Date of Birth/Age : |
09.10.1986 |
|
Date of Appointment : |
01.12.2009 |
|
DIN No.: |
02861644 |
|
|
|
|
Name : |
Mr. Jayesh Valjibhai Gangani |
|
Designation : |
Director |
|
Address : |
11, Kalakunj Society, Near Water Works, Varachha Road, Surat – 395
006, Gujarat, India |
|
Date of Birth/Age : |
13.04.1985 |
|
Date of Appointment : |
01.12.2009 |
|
DIN No.: |
02872193 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 13.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Revaben Gangani |
|
7500 |
|
Chandrikaben Gangani |
|
5100 |
|
Daga Impex Private Limited, India
|
|
12700 |
|
Kantilal Gangani |
|
7200 |
|
Lalit Kumar Daga |
|
13100 |
|
Hemrajbhai Gangani |
|
6800 |
|
Daga Polymers Private Limited, India
|
|
11600 |
|
Jatan Lal Daga |
|
24800 |
|
Jayaben Gangani |
|
7600 |
|
Ashok Kumar Daga |
|
17200 |
|
Anupama Daga |
|
11400 |
|
Khimji Bhai Gangani |
|
10500 |
|
Pinki Daga |
|
12600 |
|
Sarita Daga |
|
26100 |
|
Rashilaben Gangani |
|
6600 |
|
Damjibhai Gangani |
|
8800 |
|
Bhavikaben Patel |
|
9600 |
|
Mahendra Kumar Patel |
|
10000 |
|
Praffula Patel |
|
9600 |
|
Dahiben Patel |
|
10000 |
|
Jayaben Gangani |
|
13400 |
|
Neha Daga |
|
4600 |
|
Seema Daga |
|
5000 |
|
Jayesh Gangani |
|
12200 |
|
Ashok Kumar Gangani |
|
11000 |
|
Total
|
|
275000 |
AS ON 13.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
8.84 |
|
Directors
or relatives of directors |
|
91.16 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Importer of Paper and Paper Board. |
|
|
|
|
Imports : |
|
|
Products : |
·
Raw Materials ·
Waste Paper |
|
Countries : |
·
Netherlands |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit (Depend) |
GENERAL INFORMATION
|
Customers : |
Wholesalers and End Users ·
Daga Impex Private Limited |
||||||||||||||||||||||||
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|
||||||||||||||||||||||||
|
No. of Employees : |
80 (Approximately) |
||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||
|
Bankers : |
·
State Bank of India, Mid Corporate Group Industrial
Finance Branch, Marble Arch, Race Course Circle, Vadodara – 390 007, Gujarat,
India ·
Bank of Baroda ·
HDFC Bank Limited ·
IDBI Bank Limited ·
Kotak Mahindra Bank Limited (Surat) ·
Union Bank of India |
||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||
|
Facilities : |
Note: LONG TERM
BORROWINGS Term loan of the
company secured by equitable mortgage over land and building therein situated
at Block No.356 to 359, Village Dastan, Taluka Palsana, Sutat as well as Hypothecation of
plant and machinery acquired by company out of bank finance at above land and
building. |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Surendra K. Sharma and Company Chartered Accountants |
|
Address : |
201/451, Textile Market, Ring Road, Surat – 395 002, Gujarat, India |
|
PAN No.: |
AQZPS9047C |
CAPITAL STRUCTURE
AS ON 13.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
320000 |
Equity Shares |
Rs.10/- each |
Rs.3.200 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
275000 |
Equity Shares |
Rs.10/- each
|
Rs.2.750
millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1) Shareholders' Funds |
|
|
|
|
(a) Share Capital |
2.750 |
2.750 |
2.750 |
|
(b) Reserves & Surplus |
111.271 |
129.676 |
129.623 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
52.600 |
2.500 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
166.621 |
134.926 |
132.373 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
338.573 |
91.547 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
16.851 |
0.000 |
0.000 |
|
(c) Other long
term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) Long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
355.424 |
91.547 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
29.075 |
0.000 |
1.000 |
|
(b)
Trade payables |
29.900 |
4.859 |
0.653 |
|
(c) Other
current liabilities |
0.000 |
0.000 |
0.008 |
|
(d) Short-term
provisions |
0.211 |
0.056 |
0.000 |
|
Total Current
Liabilities (4) |
59.186 |
4.915 |
1.661 |
|
|
|
|
|
|
TOTAL |
581.231 |
231.388 |
134.034 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
448.344 |
5.580 |
22.450 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
149.855 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
10.041 |
50.992 |
0.000 |
|
(e) Other
Non-current assets |
0.000 |
2.020 |
0.000 |
|
Total Non-Current
Assets |
458.385 |
208.447 |
22.450 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
26.770 |
|
(b)
Inventories |
55.425 |
0.000 |
1.000 |
|
(c)
Trade receivables |
0.946 |
0.000 |
15.276 |
|
(d) Cash
and cash equivalents |
17.270 |
10.091 |
26.146 |
|
(e)
Short-term loans and advances |
49.205 |
12.850 |
42.392 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
122.846 |
22.941 |
111.584 |
|
|
|
|
|
|
TOTAL |
581.231 |
231.388 |
134.034 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operation |
0.847 |
1.000 |
0.000 |
|
|
|
Other Income |
0.265 |
0.001 |
0.115 |
|
|
|
TOTAL (A) |
1.112 |
1.001 |
0.115 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Changes in inventories of finished goods, work-in-progress and
stock-in-trade |
|
1.000 |
0.000 |
|
|
|
Employee Benefit Expenses |
|
0.000 |
0.144 |
|
|
|
Other Administrative Expenses |
|
0.000 |
0.069 |
|
|
|
TOTAL (B) |
1.175 (including
financial expenses) |
1.000 |
0.213 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
0.001 |
(0.098) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
0.001 |
0.003 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
(0.063) |
0.000 |
(0.101) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.491 |
0.000 |
0.010 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(1.554) |
0.000 |
(0.111) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
16.851 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(18.405) |
0.000 |
(0.111) |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(66.93) |
0.00 |
(0.40) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(1655.13)
|
0.00 |
(96.52)
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(183.47)
|
0.00 |
0.00
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(0.27)
|
0.00 |
(0.08)
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.01)
|
0.00 |
0.00
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.21
|
0.68 |
0.01 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.08
|
4.67 |
67.18 |
LOCAL AGENCY FURTHER INFORMATION
Details of Current Maturities of Long Term
Debt: Not Available
|
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 |
Yes |
|
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 |
INDEX OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10305429 |
01/11/2012 * |
576,600,000.00 |
STATE BANK OF
INDIA |
MID CORPORATE GROUP
INDUSTRIAL FINANCE BRANCH, MARBLE ARCH, RACE COURSE CIRCLE, VADODARA, GUJARAT
- 390007, INDIA |
B62576368 |
|
2 |
10307959 |
08/09/2011 |
576,600,000.00 |
STATE BANK OF
INDIA |
MID CORPORATE GROUP
INDUSTRIAL FINANCE BRANCH, MARBLE ARCH, RACE COURSE CIRCLE, VADODARA, GUJARAT
|
B21337951 |
* Date of charge modification
|
Unsecured Loans |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Agency Deposit from Customers |
2.500 |
0.000 |
|
Loans and
Advances From Related Parties |
8.200 |
0.000 |
|
Loans From
Directors |
6.050 |
0.000 |
|
Total
|
16.750 |
0.000 |
PERFORMANCE, PROSPECTS AND OPPORTUNITIES:
During the year,
the company has set up its factory unit and has commenced manufacturing of
paper and paper boards. The company has achieved turnover of Rs.0.847 million
and has suffered loss of Rs.18.405 millions mainly on account of deferred tax
during the year. The Company will turn profitability on stabilization of its
operation.
The directors are
making their best efforts to improve the performance of company and are
confident that company will grow at rapid pace for coming years.
FIXED ASSETS:
Tangible Assets
·
Land
·
Building
·
Plant and Machinery
·
Power Plant
·
Electric Installation
·
Vehicles (Cars)
·
Computer
·
Air Conditioner
·
Telephone 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.61.67 |
|
|
1 |
Rs.100.65 |
|
Euro |
1 |
Rs.84.25 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
28 |
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.