MIRA
INFORM REPORT
|
Report Date : |
11.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
SONPAL EXPORTS PRIVATE LIMITED |
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Registered
Office : |
Rev Survey No. 569 Dhari- Bagasara Road, Near Ice Factory, Amreli –
365601, Gujarat |
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Country : |
India |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
25.08.2004 |
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Com. Reg. No.: |
04-044645 |
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Capital
Investment / Paid-up Capital : |
Rs.21.750 Millions |
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CIN No.: [Company Identification
No.] |
U51909GJ2004PTC044645 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
RKTS03419D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturing, Trading and Exporting of Sesame Seeds. |
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No. of Employees
: |
120 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 490000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. The profit margin of the company appears to be low during 2013.
External borrowings seems to be huge and increasing which may act as a threat
to the liquidity position. The rating also take into consideration the increase in natural sesame
seed prices due to tight supply and increased demand. Trade relations are
fair. Business is active. Payment terms are slow but correct. The company can be considered for business dealing 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
India’s current account
deficit or CAD in April-June widened to 4.9 % of gross domestic product. High
imports of gold and oil led to a worsening of the trade deficit, resulting in
CAD jumping to $ 21.8 billion to the latest quarter from $ 16.9 billion in the
corresponding quarter of the previous financial year. The government aims to
bring down CAD to 3.7 % or $ 70 billion, in 2013/14, from 4.8 % or $ 88.2
billion in 2012/13.
The finance ministry
has started preparations for Budget 2014/15. With general elections scheduled
to be held by May next year, there will only be an interim budget. The new
government will present the fiscal Budget.
The Supreme Court
has barred clinical trials for new drugs till a monitoring mechanism is put in
place to protect the lives of people on which the drugs are tested.
Mumbai has been
named the world’s second most honest city according to a survey on 15 cities
worldwide by Readers’ Digest magazine. Finnish capital Helsinki bagged the top
spot for the world’s most honest city while Lisbon, the capital of Portugal,
proved to be the least honest. The survey put hundreds of people to test
in four continents to find out just how honest they were by dropping wallets
and seeing how many would be returned.
3.7 % Growth of the
core sector in August, a seven month high. This takes the overall growth in
April-August this year to 2.3 % compared with 6.3 % in the corresponding period
next financial year.
$19 million
Estimated average spending by companies across the globe including India, on social
media this year, according to a global study by information technology major
Tata Consultancy Services. This will rise to $ 24 million in 2015.
Rising inflation,
fewer employment avenues and dwindling earnings are taking a toll on the
spending capacity in India. Over 72 % respondents from middle and lower middle
income families would be forced to slash their Diwali expenditure by 40 % and
on average spend nearly 25 % of their monthly salary on Diwali, according to a
survey by Assochem.
Analysts believe the
shutdown of the US government would have limited impact in sectors such as IT
or tourism that are dependent on Visa clearances.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating: BB- |
|
Rating Explanation |
Inadequate credit quality and high credit risk. |
|
Date |
31 October 2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating: A4+ |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
31 October 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. Rajiv |
|
Designation : |
Export Manager |
|
Contact No.: |
91-2792-230291 |
|
Date : |
10.12.2013 |
LOCATIONS
|
Registered Office : |
Rev Survey No. 569 Dhari- Bagasara Road, Near Ice Factory, Amreli –
365601, Gujarat, India |
|
Tel. No.: |
91-2792-231703/231704 |
|
Fax No.: |
91-2792-230291 |
|
E-Mail : |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Manoj Vasantlal Sonpal |
|
Designation : |
Director |
|
Address : |
9-8-107-45, Ward No. 9, Manekpara, Amreli – 365601, Gujarat, India |
|
Date of Birth/Age : |
06.05.1968 |
|
Date of Appointment : |
25.08.2004 |
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DIN No.: |
01170320 |
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|
|
|
Name : |
Mr. Bharatkumar Nandlal Sonpal |
|
Designation : |
Director |
|
Address : |
Krishna Villa, Manek Para Sheri No. 11, Amreli – 365601, Gujarat,
India |
|
Date of Birth/Age : |
31.07.1955 |
|
Date of Appointment : |
25.08.2004 |
|
DIN No.: |
01658302 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
SHAREHOLDING DETAIL FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2013
|
Category |
Percentage |
|
Directors or relatives of Directors |
45.98 |
|
Other top fifty shareholders |
54.02 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing, Trading and Exporting of Sesame Seeds. |
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Products : |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
·
South Korea ·
Poland |
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Imports : |
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Products : |
Raw Material |
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Countries : |
Africa |
GENERAL INFORMATION
|
No. of Employees : |
120 (Approximately) |
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Bankers : |
·
State Bank of India, Mid Corporate Group
Industrial Finance Branch, Marble Arch, Race Course Circle, Vadodara -
390007, Gujarat, India ·
Bank of India, Parabazar, Rajkot - 360001,
Gujarat, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
A.D. Ruparel and Company Chartered Accountants |
|
Address : |
1, "Giriraj" Kunj" Opp. Panchnath Temple, Limda Chowk,
Rajkot -360001, Gujarat, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
ADPPR7477Q |
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Enterprises which are owned, or have significant influence of or are
partners with Key management personnel and their relatives: |
·
Avadh Agri. Exports –Amreli ·
Hanuman Industries –Amreli ·
Shiv Shankar Oil Industries Private Limited,
India CIN: U52209GJ2011PTC065627 |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000 |
Equity Shares |
Rs.100/- each |
Rs. 25.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
217500 |
Equity Shares |
Rs.100/- each |
Rs. 21.750
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 |
21.750 |
21.750 |
9.750 |
|
(b) Reserves & Surplus |
101.334 |
88.778 |
36.319 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
123.084 |
110.528 |
46.069 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
70.221 |
0.517 |
128.979 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
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) |
70.221 |
0.517 |
128.979 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
552.622 |
180.687 |
5.000 |
|
(b) Trade payables |
413.453 |
256.328 |
289.772 |
|
(c) Other current
liabilities |
0.000 |
0.000 |
0.490 |
|
(d) Short-term provisions |
60.117 |
10.284 |
0.000 |
|
Total Current Liabilities (4) |
1026.192 |
447.299 |
295.262 |
|
|
|
|
|
|
TOTAL |
1219.497 |
558.344 |
470.310 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
19.247 |
21.104 |
20.806 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
21.747 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.410 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
2.420 |
|
Total Non-Current Assets |
19.247 |
21.104 |
45.383 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
370.661 |
350.171 |
20.898 |
|
(c) Trade receivables |
754.152 |
152.126 |
392.571 |
|
(d) Cash and cash
equivalents |
50.102 |
22.494 |
8.068 |
|
(e) Short-term loans and
advances |
24.761 |
11.811 |
2.600 |
|
(f) Other current assets |
0.574 |
0.638 |
0.790 |
|
Total Current Assets |
1200.250 |
537.240 |
424.927 |
|
|
|
|
|
|
TOTAL |
1219.497 |
558.344 |
470.310 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
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|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
2728.090 |
2777.959 |
1993.157 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
2705.498 |
2758.499 |
1964.439 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
22.592 |
19.460 |
28.718 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
18.688 |
16.327 |
8.392 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
6.132 |
9.640 |
1.002 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
12.556 |
6.687 |
7.390 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
57.73 |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.46
|
0.24 |
0.42 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.53
|
2.92 |
1.87 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15
|
0.15 |
0.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
5.06
|
1.64 |
2.91 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.17
|
1.20 |
1.44 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS: NOT AVAILABLE
|
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 |
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 |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
NOTE: Registered office of the company has been
shifted from Giriraj Kunj, First Floor, Street No.15, Panchanath Plot, Opposite
Panchnath Mahadev Temple, Rajkot -360001, Gujarat, India to the present address w.e.f 21.08.2013
UNSECURED LOAN
|
PARTICULARS |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
Long-term
Borrowings |
|
|
|
Loans and advances from related parties |
70.000 |
0.000 |
|
Total |
70.000 |
0.000 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10422148 |
30/03/2013 |
693,700,000.00 |
STATE BANK OF INDIA |
MID CORPORATE
GROUP INDUSTRIAL FINANCE BRANCH, MA |
B73870271 |
|
2 |
10061851 |
08/03/2013 * |
693,700,000.00 |
STATE BANK OF INDIA |
MID CORPORATE
GROUP INDUSTRIAL FINANCE BRANCH, MA |
B72197775 |
Note: * Date of charge modification
FIXED ASSETS
Tangible assets
·
Buildings
·
Factory building
·
Plant and equipment
·
Factory equipments
·
Vehicles
·
Motor vehicles
·
Office equipment
·
Computer equipments
PRESS RELEASES
TIGHT SUPPLY, EXPORTS PUSH UP SESAME SEED PRICE
NOVEMBER 27, 2013
Traders expect prices to rise to around Rs 5,000 per 20 kg amid demand pressure
Heavy buying by exporters and increased local demand has pushed up natural sesame seed prices to Rs 3,700 per 20 kg. Market experts maintained that prices increased owing to tight supply conditions in both domestic and international market due to lower production.
As per market statistics, sesame seed prices have gained by more than 33 per
cent to Rs 4,000 per 20 kg on last Wednesday, which is higher from Rs 3,000 per
20 kg a month ago. But after touching new high, demand in sesame seed has
reduced and now price reached to Rs 3,700 per 20 kg. While hulled sesame seed
premium quality is still ruling on Rs 3,960-4,000 per 20 kg and semi-premium
hulled price is traded on Rs 3,800-3,850 per 20 kg.
In the international market, India's sesame seed is being quoted at
$2,700-2,800 a tonne.
"The only reason behind price rise is the shortage of supply against huge
export demand. Exporters are buying heavily to fulfill their commitments.
Moreover, domestic demand also good at this time," said Sagar Chag,
director of Sagar International from Rajkot.
He noted that international supply was also dull, which may further push up the
prices. Sesame seed crop in Pakistan is expected to be lower this time. Till
September, sesame seed production was expected to be good in India but heavy
rain at the end of September mainly in Gujarat has abolished all the
expectation.
In its crop survey, the Shellac and Forest Products Export Promotion Council
(Shefexil, a trade body sponsored by the ministry of commerce) says production
might fall by 11.7 per cent in 2013-14 to 253,000 tonnes, due to lower sowing
area (down 5.8 per cent) and yield (down 6.2 per cent). However, traders
believe that sesame seed production will not be more than 150,000 tonnes in
India.
Traders maintained that production of Gujarat will be around 40,000 tonnes.
Manoj Sonpal of Sonpal Agri Export from Amreli, said, "As price has gone
up in recent time South Korea has cancelled its tender for 5,100 tonnes a few
days back. Last, tender for 8,000 tonnes was opened on October 30 this
year."
He said that demand from Europe, Gulf countries and China is huge and India cannot match the supply. Moreover, domestic demand is also good which may pull the price in coming days.
According to traders, sesame seed price may touch Rs 5,000 per 20 kg within
next one month.
By end of this month South Korea's 4,300 tonne tender will announce and as per
the traders only Indian bidders will participate in it. This may pull up sesame
seed price more in coming days.
Due to lower production, arrival of sesame seed is very limited in Gujarat and
across the country. About 4,000-5,000 bags sesame seed arrives every day in
Gujarat and the country's arrival reported about 10,000-11,000 bags a day.
STATE TRADERS BAG 8,400 TONNE SESAME SEED EXPORT ORDER FROM SOUTH KOREA
JULY 21, 2012
Gujarat-based traders have bagged 8,400 tonne sesame seed export order from South Korea. The tender floated by South Korea for import of total 12,000 tonne sesame seed was opened on July 13.
Sonpal Export Private Limited from Amreli district of Gujarat got export order of 3,600 tonne sesame seed, which is the highest to any individual firm. Gujarat-based Asian Trading Company and Dhaval Agri Export Private Limited have also received export order for 1,800 tonne sesame seed each. While, Dhairya export also from the state received order of 1,200 tonne. “Major portion of the South Korean order has to come in Gujarat as the state is the main supplier of sesame seed in India. By end of August we have to fulfill the order to South Korea,” Suresh Chandarana, managing director, of Dhaval Agri Export Private Limited from Rajkot said, He further said that as per his information, the entire 12,000 tonne export order was bagged by Indian firms. Chandarana explained, “As price is high in other countries, export demand is lower there. At present, India is the only source that can provide better quality sesame to the world. Once price will reduce demand from other countries will start again.” An Amreli-based sesame seed trader claimed that price of the commodity was gained almost Rs 100-125 per 20 kg and traded at Rs 1750-1775 following the huge order to Gujarat exporters.
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.61.21 |
|
|
1 |
Rs.100.65 |
|
Euro |
1 |
Rs.84.15 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
32 |
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.