MIRA
INFORM REPORT
|
Report Date : |
26.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
AVAYA INDUSTRIES LIMITED (w.e.f. 26.03.2010) |
|
|
|
|
Formerly Known
As : |
AVAYA INDUSTRIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
A 102, Ambika Darshan, C. P. Road, Near Bus Depot, Railway Station and
Reliance Fresh, Kandivali (East), Mumbai – 400101, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
11.03.2010 |
|
|
|
|
Com. Reg. No.: |
11-200751 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 9.084 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24100MH2010PLC200751 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMA37716A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAICA3412H |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of PVC Pipes and Fittings. |
|
|
|
|
No. of Employees
: |
50 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (31) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1100000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. The
profitability of the company appears to be low. Company performance seems to be improving. However, trade relations
are reported to be fair. Business is active. Payments are reported to be slow
but correct. 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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
FITCH |
|
Rating |
B – (Long term issues) |
|
Rating Explanation |
Rating indicates that material credit risk is present. |
|
Date |
29.10.2012 |
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 (GENERAL DETAILS)
|
Name : |
Mr. Milapchand S. Solanki |
|
Designation : |
Director |
|
Contact No.: |
91-260-2242296 |
|
Date : |
21.02.2013 |
LOCATIONS
|
Registered Office : |
A 102, Ambika Darshan, C. P. Road, Near Bus Depot, Railway Station and
Reliance Fresh, Kandivali (East), Mumbai – 400101, Maharashtra, India |
|
Tel. No.: |
91-22-65707816 / 20552055 |
|
Fax No.: |
91-22-28462626 |
|
E-Mail : |
|
|
Area : |
1500 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Factory : |
15/3, Kachigam Road, Ranganwada, Nani Daman – 396210, Gujarat, India |
|
Tel. No.: |
91-260-2242296 |
DIRECTORS
As on 29.09.2011
|
Name : |
Mr. Arvind Surendra Chaturvedi |
|
Designation : |
Director |
|
Address : |
Suite 9, Hare Rama Hare Krishna, Akurli Cross Road No.1, Kandivali (East), Mumbai-400101, Maharashtra, India |
|
Date of Birth/Age : |
15.03.1975 |
|
Qualification : |
BSC. |
|
Date of Appointment : |
11.03.2010 |
|
DIN No.: |
02811464 |
|
|
|
|
Name : |
Mr. Milapchand Sagarmal Solanki |
|
Designation : |
Director |
|
Address : |
218, Sonal Link Industrial Estate, Building No.2, Link Road, Malad (West), Mumbai-400064, Maharashtra, India |
|
Date of Birth/Age : |
13.02.1936 |
|
Qualification : |
C.A |
|
Date of Appointment : |
11.03.2010 |
|
DIN No.: |
01638240 |
|
|
|
|
Name : |
Mr. Tapas Champaklal Mehta |
|
Designation : |
Director |
|
Address : |
601, ‘C’ Wing Labh, Ashish CHS, Old Police Lane, Andheri (East), Mumbai-400069, Maharashtra, India |
|
Date of Birth/Age : |
11.06.1973 |
|
Qualification : |
C.A. |
|
Date of Appointment : |
18.03.2010 |
|
DIN No.: |
02988669 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Chaturvedi Surendra Arvind |
|
50000 |
|
Solanki Sagarmal Milapchand |
|
50000 |
|
Yedery Ramesh Kiran |
|
100 |
|
Mehta Purshottamdas Ramesh |
|
100 |
|
Mehta Purshottamdas Ramesh |
|
100 |
|
Mehta Purshottamdas Bharat |
|
100 |
|
Bhaliya Popatbhai Jeevan |
|
100 |
|
Total |
|
100500 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2011
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of PVC Pipes and Fittings. |
||||||
|
|
|
||||||
|
Products : |
|
||||||
|
|
|
||||||
|
Terms : |
|
||||||
|
Selling : |
Cash and Credit (30-60-90 Days) |
||||||
|
|
|
||||||
|
Purchasing : |
Cash and Credit (30-60-90 Days) |
PRODUCTION STATUS AS ON 31.03.2011
|
Particulars |
Unit |
Licensed
Capacity |
* Installed Capacity |
|
|
|
|
|
|
PVC Pipes/Compound |
MT |
NA |
12200 p.a. |
|
|
|
|
|
* As certified by the Director and relied upon by the auditors being a technical matter.
GENERAL INFORMATION
|
Customers : |
|
||||||||||||||||||
|
|
|
||||||||||||||||||
|
No. of Employees : |
50 (Approximately) |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
·
State Bank of India, SME, Goregaon Branch, 1st
Floor, Kohinoor Industrial Estate, W. E. Highway, Goregaon (East), Mumbai –
400063, Maharashtra, India |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
ARV and Company Chartered Accountants |
|
Address : |
Suite 9, Hare Rama, Hare Krishna, Akurli Cross Road No.1, Kandivli (East), Mumbai, Maharashtra, India |
|
PAN No.: |
AARFA1119K |
CAPITAL STRUCTURE
As on 29.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Share |
Rs. 10/- each |
Rs. 10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100500 |
Equity Share |
Rs. 10/-
each |
Rs. 1.005
Millions |
|
|
|
|
|
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Share |
Rs. 10/- each |
Rs. 10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
908422 |
Equity Share |
Rs. 10/-
each |
Rs. 9.084
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
9.084 |
1.005 |
1.005 |
|
|
2] Share Application Money |
0.000 |
3.260 |
3.260 |
|
|
3] Reserves & Surplus |
266.810 |
8.658 |
0.014 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
275.894 |
12.923 |
4.279 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
64.595 |
162.785 |
0.000 |
|
|
2] Unsecured Loans |
30.000 |
154.517 |
5.668 |
|
|
TOTAL BORROWING |
94.595 |
317.302 |
5.668 |
|
|
DEFERRED TAX LIABILITIES |
0.148 |
0.205 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
370.637 |
330.430 |
9.947 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
15.036 |
14.765 |
7.090 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
2.000 |
2.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
90.044
|
53.705 |
1.588 |
|
|
Sundry Debtors |
406.973
|
210.326 |
5.283 |
|
|
Cash & Bank Balances |
112.895
|
13.881 |
6.317 |
|
|
Other Current Assets |
4.119
|
0.108 |
0.000 |
|
|
Loans & Advances |
96.351
|
104.502 |
3.580 |
|
Total
Current Assets |
710.382
|
382.522 |
16.768 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
341.444
|
64.979 |
13.844 |
|
|
Other Current Liabilities |
6.703
|
0.142 |
0.000 |
|
|
Provisions |
8.634
|
3.736 |
0.211 |
|
Total
Current Liabilities |
356.781
|
68.857 |
14.055 |
|
|
Net Current Assets |
353.601
|
313.665 |
2.713 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.144 |
|
|
|
|
|
|
|
|
TOTAL |
370.637 |
330.430 |
9.947 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1930.839 |
1049.677 |
0.000 |
|
|
|
Other Income |
5.819 |
0.661 |
0.196 |
|
|
|
TOTAL (A) |
1936.658 |
1050.338 |
0.196 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
1008.793 |
|
|
|
|
|
Purchases of stock-in-trade |
864.466 |
739.764 |
0.041 |
|
|
|
Employee benefit expense |
5.249 |
2.343 |
|
|
|
|
Other expenses |
22.464 |
6.683 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(30.188) |
(45.000) |
|
|
|
|
TOTAL (B) |
1870.784 |
1031.802 |
0.041 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) |
65.874 |
18.536 |
0.155 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
40.073 |
6.181 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
25.801 |
12.355 |
0.155 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.753 |
1.054 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
24.048 |
11.301 |
0.155 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
4.423 |
2.551 |
0.048 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
19.625 |
8.750 |
0.107 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
NA |
10.131 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
191.07 |
87.07 |
1.06 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.01
|
0.83 |
54.59 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.25
|
1.08 |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.32
|
2.84 |
0.65 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09
|
0.87 |
0.04 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.34
|
24.55 |
1.32 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.99
|
5.56 |
1.19 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS DETAILS:
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
||
|
Creditors due small micro enterprises |
341.444 |
0.000 |
0.000 |
|
Creditors due others |
|
64.979 |
13.844 |
|
Total |
341.444
|
64.979 |
13.844 |
|
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 |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
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 |
CORPORATE INFORMATION
The Company started its operation in the year 20010-11 by manufacturing of PVC Pipes and Fittings. During the last F.Y.i.e.2011-12 the company identified a few suppliers in various locations of India and got the PVC fittings outsourced from them besides manufacturing PVC pipes from its DAMAN Unit. Further to have a strong hold in the Pharma Sector. As compared to the previous year the company during the last year identified a few plants wherein they outsourced their Pharma requirements to cater to its clients. Also the company could acquire a small running Pharma unit at Tarapur MIDC on lease from where it entered into its own manufacturing activity. In the trading division the company besides the import of Resin has also started trade in the Chemicals and Solvents. The company has done a sizeable turnover of chemicals and is keen on expanding the business and would like to explore the markets and grow. 2.Significant Accounting Policies The Company is a Small and Medium Sized Company as defined in the General Instructions in respect of Accounting Standards notified under the Companies (Accounting Standards) Rules, 2006 (as amended). Accordingly, the Company has complied with the Accounting Standards as applicable to a Small and Medium Sized Company. 2.1 Basis of Accounting and Preparation of Financial Statements The financial statements of the Company have been prepared in accordance with the Generally Accepted Accounting Principles in India (Indian GAAP) to comply with the Accounting Standards notified under the Companies (Accounting Standards) Rules, 2006 (as amended) and the relevant provisions of the Companies Act, 1956. The financial statements have been prepared on accrual basis under the historical cost convention. The accounting policies adopted in the preparation of the financial statements are consistent with those followed in the previous year. 2.2 Use of Estimates The preparation of the financial statements in conformity with Indian GAAP requires the Management to make estimates and assumptions considered in the reported amounts of assets and liabilities (including contingent liabilities) and the reported income and expenses during the year. The Management believes that the estimates used in preparation of the financial statements are prudent and reasonable. Future results could differ due to these estimates and the differences between the actual results and the estimates are recognized in the periods in which the results are known / materialize. The company adopts the accrual basis in the preparation of it’s accounts except capital subsidy and leave pay, which are accounted on cash basis. The company considers the gratuity liability to accrue only when the employee completes the eligible years of employment with the company.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
In Millions) |
|
Loans and advances from related parties |
0.000 |
0.049 |
|
Other loans and advances |
30.000 |
154.468 |
|
Total |
30.000 |
154.517
|
FIXED ASSETS
· Land
· Buildings
· Plant and equipment
· Furniture and Fixtures
· Vehicles
· Office Equipment
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.54.04 |
|
|
1 |
Rs.81.80 |
|
Euro |
1 |
Rs.71.41 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
31 |
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.