MIRA
INFORM REPORT
|
Report Date : |
23.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
PLATINUM CHEMICALS LIMITED (w.e.f. 29.01.2009) |
|
|
|
|
Formerly Known
As : |
PLATINUM PAINTS LIMITED |
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|
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Registered
Office : |
405, 4th Floor, Madhu Industrial Park, Mogra Village, Nagardas Road, Andheri (East), Mumbai – 400069, Maharashtra |
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Country : |
India |
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|
|
|
Financials (as
on) : |
31.03.2011 |
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|
|
|
Date of
Incorporation : |
17.04.2006 |
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|
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|
Com. Reg. No.: |
11-161183 |
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Capital
Investment / Paid-up Capital : |
Rs.0.530 Million |
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|
|
CIN No.: [Company Identification
No.] |
U60300MH2006PLC161183 |
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|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer, Exporter and Importer of PVC Stabilizers and
Metallic Octoates. |
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|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 89000 |
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|
Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a moderate track record. The
latest financials are not made available with the government department. As per previous year’s, the profitability of the company appears to be
low. However, trade relations are reported to be fair. Business is active.
Payments are reported to be unknown. 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
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis - in large part because of strong domestic demand - and growth
exceeded 8% year-on-year in real terms. However, India's economic growth in
2011 slowed because of persistently high inflation and interest rates and
little progress on economic reforms. High international crude prices have
exacerbated the government's fuel subsidy expenditures contributing to a higher
fiscal deficit, and a worsening current account deficit. Little economic reform
took place in 2011 largely due to corruption scandals that have slowed
legislative work. India's medium-term growth outlook is positive due to a young
population and corresponding low dependency ratio, healthy savings and
investment rates, and increasing integration into the global economy. India has
many long-term challenges that it has not yet fully addressed, including
widespread poverty, inadequate physical and social infrastructure, limited
non-agricultural employment opportunities, scarce access to quality basic and
higher education, and accommodating rural-to-urban migration.
|
Source
: CIA |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Krishna Rana |
|
Designation : |
Director |
|
Contact No.: |
91-22-28351646 |
|
Date : |
22.02.2013 |
LOCATIONS
|
Registered Office : |
405, 4th Floor, Madhu Industrial Park, Mogra Village, Nagardas Road, Andheri (East), Mumbai – 400069, Maharashtra, India |
|
Tel. No.: |
91-22-28351646 |
|
Fax No.: |
91-22-28376615 |
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E-Mail : |
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|
Website : |
http://www.platinumchemicals.in |
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Location : |
Owned |
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|
|
|
Factory : |
Plot No. 2222, Palghar Co-operative Industrial Estate, Palghar,
District Thane – 401404, Maharashtra, India |
|
Tel. No.: |
91-2525-327270 |
|
Location : |
Rented |
DIRECTORS
As on: 23.09.2011
|
Name : |
Mr. Krishna Dushyant Rana |
|
Designation : |
Director |
|
Address : |
5, 1st Floor, Ramya Jeevan Society, Mahakali Caves Road,
Andheri (West), Mumbai – 400093, Maharashtra, India |
|
Date of Birth/Age : |
19.05.1984 |
|
Date of Appointment : |
17.04.2006 |
|
DIN No.: |
02071912 |
|
|
|
|
Name : |
Mr. Anuj Anil Saraf |
|
Designation : |
Director |
|
Address : |
B/3, A – 804, Valentine Apartment, Near Film City Road, Gokuldham,
Malad (West), Mumbai – 400097, Maharashtra, India |
|
Date of Birth/Age : |
04.07.1984 |
|
Date of Appointment : |
15.05.2006 |
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DIN No.: |
02072737 |
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|
|
|
Name : |
Mr. Dushyant Bhaskar Rana |
|
Designation : |
Director |
|
Address : |
A-2, 301, 3ed Floor, Vidya Villa, Old Nagardas Road, Andheri (East),
Mumbai – 400069, Maharashtra, India |
|
Date of Birth/Age : |
30.11.1957 |
|
Date of Appointment : |
01.05.2007 |
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DIN No.: |
02184505 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 23.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
|
|
50000 |
|
Binu Jhonson Koshi |
|
500 |
|
Chandrakant Bhagwanlal Jhaveri |
|
500 |
|
Purva R. Raut |
|
500 |
|
Dusyant Bhaskar Rana |
|
500 |
|
Geeta D. Rana |
|
500 |
|
Dinesh Mutha |
|
500 |
|
|
|
|
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Total
|
|
53000 |
Equity Share Break up (Percentage of Total Equity)
As on: 23.09.2011
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of PVC Stabilizers and
Metallic Octoates. |
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Exports : |
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Products : |
·
Finished Goods |
|
Countries : |
·
Bangladesh ·
Nepal ·
Turkey |
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Imports : |
|
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Products : |
·
Raw Material |
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Countries : |
·
Turkey |
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Terms : |
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Selling : |
L/C, Cash and Credit |
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Purchasing : |
L/C, Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
·
Cipla Limited ·
Kalpana Enterprises ·
Mehta Petro Refineries Limited |
||||||||||||
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||||||||||||
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Customers : |
End Users ·
Omkar Polymers ·
Shree Ambika Chemicals ·
Shree Balaji Industries |
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||||||||||||
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No. of Employees : |
Information declined by the management. |
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Bankers : |
Indian Overseas Bank, Post Box No.8290, 28, Ashok Nagar Society, Narsee Monjee Road, Juhu, Mumbai - 400049, Maharashtra, India Tel. No.: 91-22-26142758 |
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Facilities : |
(Rs.
In Millions)
|
|
|
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
N R Panchal Chartered Accountants |
|
Address : |
509/C, Amrut, J.S Road, Dahisar (West), Mumbai – 400068, Maharashtra,
India |
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PAN No.: |
ALIPP5588K |
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|
|
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Associates/Subsidiaries : |
Jiten Plasticizers Limited |
CAPITAL STRUCTURE
As on: 23.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
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|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
53000 |
Equity Shares |
Rs.10/- each |
Rs.0.530
Million |
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|
|
|
|
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 |
0.530 |
0.530 |
0.530 |
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|
2] Share Application Money |
20.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1.916 |
1.161 |
0.584 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
22.446 |
1.691 |
1.114 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
23.612 |
25.234 |
26.794 |
|
|
2] Unsecured Loans |
5.623 |
24.642 |
2.295 |
|
|
TOTAL BORROWING |
29.235 |
49.876 |
29.089 |
|
|
DEFERRED TAX LIABILITIES |
0.098 |
0.098 |
0.136 |
|
|
|
|
|
|
|
|
TOTAL |
51.779 |
51.665 |
30.339 |
|
|
|
|
|
|
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|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
13.869 |
15.878 |
17.115 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
|
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INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
41.115
|
27.332 |
23.623 |
|
|
Sundry Debtors |
20.646
|
36.980 |
36.537 |
|
|
Cash & Bank Balances |
0.514
|
0.506 |
0.531 |
|
|
Other Current Assets |
31.651
|
0.279 |
0.712 |
|
|
Loans & Advances |
4.693
|
4.578 |
1.981 |
|
Total
Current Assets |
98.619
|
69.675 |
63.384 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
|
59.532
|
|
|
|
|
Other Current Liabilities |
|
|
|
|
|
Provisions |
1.177
|
0.706 |
0.538 |
|
Total
Current Liabilities |
60.709
|
33.910 |
50.204 |
|
|
Net Current Assets |
37.910
|
35.765 |
13.180 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.022 |
0.044 |
|
|
|
|
|
|
|
|
TOTAL |
51.779 |
51.665 |
30.339 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
143.354 |
141.436 |
121.606 |
|
|
|
Other Income |
0.000 |
0.000 |
1.901 |
|
|
|
Variation in Stock |
13.783 |
3.708 |
14.249 |
|
|
|
TOTAL (A) |
157.137 |
145.144 |
137.756 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Direct Expenses |
139.198 |
128.154 |
123.097 |
|
|
|
Administrative and Other Expenses |
11.165 |
9.123 |
6.204 |
|
|
|
Provisions and Write Offs |
0.000 |
0.029 |
0.044 |
|
|
|
TOTAL (B) |
150.363 |
137.306 |
129.345 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
6.774 |
7.838 |
8.411 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
3.321 |
4.296 |
4.719 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
3.453 |
3.542 |
3.692 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2.292 |
2.640 |
2.756 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1.161 |
0.902 |
0.936 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.406 |
0.325 |
0.339 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
0.755 |
0.577 |
0.597 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
0.000 |
0.000 |
(0.013) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
0.755 |
0.577 |
0.584 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
21.91 |
17.01 |
17.66 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.48 |
0.40 |
0.43 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.81 |
0.64 |
0.77 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.03 |
1.05 |
1.16 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05 |
0.53 |
0.84 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.30 |
29.49 |
26.11 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.62 |
2.05 |
1.26 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
(Rs.
In Millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
Sundry Creditors |
NA
|
NA
|
NA |
|
Sr. No. |
Check List by Info
Agents |
Available in Report
(Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
Yes |
|
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 |
No |
|
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:
The Registered Office of the company has been shifted from A-2/301, 3rd
Floor, Vidya Villa, Old Nagardas Road, Andheri (East), Mumbai – 400069,
Maharashtra, India to the present address.
UNSECURED LOAN
(Rs. In Millions)
|
Particular |
As on 31.03.2011 |
As on 31.03.2010 |
|
Unsecured Loan |
5.623 |
24.642 |
|
|
|
|
|
Total |
5.623 |
24.642 |
TRADE REFERENCE:
·
Cipla Limited
·
Kalpana Enterprises
·
Mehta Petro Refineries Limited
·
Omkar Polymers
·
Shree Ambika Chemicals
·
Shree Balaji Industries
Bankers Charges
Report as per Registry
|
Corporate identity
number (CIN) or foreign company registration
number of the company |
U60300MH2006PLC161183 |
|
Name of the
company |
PLATINUM
CHEMICALS LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
405, 4th Floor, Madhu Industrial Park, Mogra Village, Nagardas Road, Andheri (East), Mumbai – 400069, Maharashtra, India E-mail: rkmehta.co@gmail.com
|
|
This form is for |
Modification
of charge |
|
Charge
identification (ID) number of the charge to be modified |
10089779 |
|
Type of charge |
·
Immovable
property · Any interest in immovable property |
|
Particular of
charge holder |
Indian Overseas Bank, Post Box No.8290, 28, Ashok Nagar Society, Narsee Monjee Road, Juhu, Mumbai - 400049, Maharashtra, India E-mail: jvpscbr@mummsco.iobnet.co.in |
|
Nature of
instrument creating charge |
Supplemental
Memorandum of Deposit of Title Deeds dated 21.01.2012. |
|
Date of
instrument Creating the charge |
21.01.2012 |
|
Amount secured by
the charge |
Rs.40.000
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest Adhoc. CC : Base Rate + 4.75% = 15.50% p.a. Other Facilities:
No Changes from the existing terms. Terms of
Repayment Adhoc. CC : Repayable on Demand. Other Facilities:
No Changes from the existing terms. Margin Adhoc. CC : 25% on Stock and 40% on Book Debts Other Facilities:
No Changes from the existing terms. Extent and
Operation of the charge The charge is to operate
as security, by way of first exclusive charge, for the due repayment of the
credit facility of Rs.40.000 Millions together with interests, additional
interest, costs, charges, expenses and all other moneys payable by the
Company to the Bank from time to time in terms of sanction. Others Facility Limits (Rs. in Millions) Existing Revised ----------------
------------ ------------- Cash Credit 27.500
27.500 Term Loan 10.000
10.000 Adhoc. CC --- 2.500 ------------
------------- Total 37.500
40.000 ======= ======= |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Extension of
Mortgage on the following immovable properties of teh company : a) All that piece
of land bearing Plot No.21 in and part of Plot of land in Survey No.115 in
Village Palghar, within the Palghar,
District Thane, containing by admeasurement 936.46 sq. meters or thereabouts
together with structure standing thereof and bounded as follows that is to
say: On or towards
North : By Plot No. Road On or towards
South: By Plot No. Boundary On or towards
East : By Plot No.20 On or towards
West : By Plot No. MSEB b) All that piece
of land bearing Plot No.22 in and part of Plot of land in Survey No.115 in
Village Palghar, within the Palghar,
District Thane, containing by admeasurement 785.04 sq. meters or thereabouts
together with structure standing thereon and bounded as follows that is to
say : On or towards
North : By Plot No.23 On or towards
South: By Plot No. Road On or towards
East : By Plot No. Road On or towards
West : By Plot No. Boundary |
|
Date of
instrument modifying the charge |
21.01.2012 |
|
Particulars of
the present modification |
The charge on the
immovable properties of the company viz. All that piece of land bearing Plot
No.21 and 22 in and part of Plot of land in Survey No.115 in village Palghar,
Dist. Thane or thereabouts together with structure standing thereon has been
extended to cover the enhanced credit limit of Rs.40.000 Millions. Facilities : ------------ Cash Credit :
Rs.27.500 Millions Term Loan : Rs.10.000 Millions Adhoc. CC : Rs.2.500 Millions |
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON DESIGNATED
PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals have
been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.43 |
|
|
1 |
Rs.83.20 |
|
Euro |
1 |
Rs.71.91 |
INFORMATION DETAILS
|
Report Prepared
by : |
VRN |
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 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
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 |
|
27 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.