MIRA INFORM REPORT

 

 

Report Date :

28.02.2013

 

IDENTIFICATION DETAILS

 

Name :

PARACOAT PRODUCTS LIMITED (w.e.f.27.06.1996)

 

 

Formerly Known As :

PARACOAT PRODUCTS PRIVATE LIMITED (w.e.f.16.05.1996)

 

PARAGON PAINTS PRIVATE LIMITED

 

 

Registered Office :

32A, Chittaranjan Avenue, 4th Floor, Kolkata – 700012, West Bengal

 

 

Country :

India

 

 

Financials (as on) :

31.03.2012

 

 

Date of Incorporation :

24.01.1989

 

 

Com. Reg. No.:

21-046056

 

 

Capital Investment / Paid-up Capital :

Rs. 39.551 Millions

 

 

CIN No.:

[Company Identification No.]

U24121WB1989PLC046056

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

CALP02865C

 

 

PAN No.:

[Permanent Account No.]

AABCP7033J

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

Line of Business :

Manufacturer and Seller of Automobile Components.

 

 

No. of Employees :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (45)

 

RATING

STATUS

 

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 1310000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having satisfactory track record. There appears some dip in the profitability of the company. However, networth appears to be satisfactory. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct and as per commitments.

 

The company can be considered normal for business dealings at usual trade terms and condition.  

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List – June 30, 2012

 

Country Name

Previous Rating

(31.03.2012)

Current Rating

(30.06.2012)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

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

ICRA

Rating

Long Term Loan : BBB- (Suspended)

Rating Explanation

Moderate credit quality it carry higher than average credit risk.

Date

November 2012

 

 

Rating Agency Name

ICRA

Rating

Short Term Loan : A3 (Suspended)

Rating Explanation

Moderate credit quality it carry higher credit risk.

Date

November 2012

 

Reason for suspended: Absence of the requisite information from the company. 

 

 

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.

 

 

LOCATIONS

 

Registered Office :

32A, Chittaranjan Avenue, 4th Floor, Kolkata – 700012, West Bengal, India

Tel. No.:

91-33-22123066/ 2023

Fax No.:

91-33-22155154

E-Mail :

paracoat@cal3.vsnl.net.in

paracoat.kolkata@gmail.com

sanjeev.paracoat@gmail.com

Website :

http://www.paracoat.com

 

 

Plant 1 :

NH6, Bipranpara, Domjur, Bombay Road Howrah - 71141, West Bengal, India

Tel. No.:

91-33-26690949/ 26696731

 

 

Plant 2 :

E-1225, Ricco Industrial Area, Phase-I Ext. Ghatal, Bhiwadi - 301019, Rajasthan, India

Tel. No.:

91-1493-222830/ 223430

Fax No.:

91-1493-221916

 

 

Plant 3 :

Plot No. 43-C, Phase-I, Sipcot Industrial Complex, Hosur - 635126, Tamilnadu, India

Tel. No.:

91-4344-275449/ 275374

Fax No.:

91-4344-277843

 

 

Plant 4 :

Gat No 624/4 and 624/6, Kuruli, Taluka-Khed, Pune - 410501, Maharashtra, India

Tel. No.:

91-2135-679766/ 69

Fax No.:

91-2135-679768

 

 

DIRECTORS

 

AS ON 29.09.2012

 

Name :

Mr. Rajesh Poddar

Designation :

Director

Address :

C-42, Belvedre Tower, DLF Phase II, Gurgaon – 122001, Haryana, India

Date of Birth/Age :

26.11.1968

Qualification :

B.Com

Date of Appointment :

17.06.1991

PAN No.:

AFHPP9175M

DIN No.:

00587017

 

 

Name :

Mr. Bimal Kumar Poddar

Designation :

Director

Address :

9 Lower Roadon Street, Kolkata - 700029, West Bengal, India

Date of Birth/Age :

07.04.1958

Qualification :

B.Com

Date of Appointment :

17.06.1991

PAN No.:

AFFPP8864H

DIN No.:

00596702

 

 

Name :

Mr. Navin Banka

Designation :

Director

Address :

C-42, Sobha Magnalia, 16 Bennerghatta Road, Gurappa,  Bangalore - 560029, Karnataka, India

Date of Birth/Age :

11.01.1967

Qualification :

B.Com

Date of Appointment :

19.03.2001

PAN No.:

ADLPB3502E

DIN No.:

00597052

 

 

Name :

Mr. Atmaram Poddar

Designation :

Director

Address :

C-42, Belvedre Tower, DLF Phase II, Gurgaon – 122001, Haryana, India

Date of Birth/Age :

04.04.1944

Qualification :

B.Com

Date of Appointment :

24.01.1989

PAN No.:

AFZPP5040F

DIN No.:

00653336

 

 

Name :

Mr. Virendra Poddar

Designation :

Director

Address :

BH-160, Sector 2, 2nd Floor, Salt Lake City, Kolkata - 700091, West Bengal, India

Date of Birth/Age :

14.10.1972

Qualification :

B.Com

Date of Appointment :

08.02.2002

PAN No.:

AFHPP9187M

DIN No.:

00684880

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

SHAREHOLDING DETAILS FILE ATTACHED

 

 

AS ON 29.09.2012

 

Equity Share Breakup

 

Percentage of Holding

Category

 

 

Bodies corporate

 

7.00

Directors or relatives of directors

 

83.00

Other top fifty shareholders

 

10.00

Total

 

100.000

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Seller of Automobile Components.

 

 

Products :

ITC Code

Product Descriptions

87021019

Motor Car Parts

 

 

GENERAL INFORMATION

 

Customers :

Ø       Ashok Leyland

Ø       Avia

Ø       Caterpillar

Ø       Daimler

Ø       Daikin

Ø       Fiat

Ø       Ford India

Ø       Ford Australia

Ø       GM India

Ø       Honda

Ø       Hyundai

Ø       Hitachi

Ø       LML

Ø       Mahindra

Ø       Maruti Suzuki

Ø       Mitsubishi

Ø       Tata

Ø       Toyota

Ø       Videocon

Ø       TSAL

 

 

No. of Employees :

Not Available

 

 

Bankers :

Canara Bank, Princep Street Branch, 25, Princep Street, Kolkata – 700072, West Bengal, India

 

 

Facilities :

 

Secured Loans

31.03.2012

31.03.2011

 

 

(Rs. In Millions)

Rupee term loans from banks

63.848

66.765

Term loans from others

2.947

3.014

Total

66.795

69.779

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Rustagi and Company

Chartered Accountants

Address :

19,R N M Road, Kolkata – 700001, West Bengal, India

Income-tax PAN of auditor or auditor's firm :

AAUFS1566M

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2012

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

4,000,000

Equity Shares

Rs. 10/- each

Rs. 40.000 Millions

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

3,955,100

Equity Shares

Rs. 10/- each

Rs. 39.551 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

39.551

39.551

37.071

2] Share Application Money

0.000

0.000

25.800

3] Reserves & Surplus

288.619

277.902

254.490

4] (Accumulated Losses)

0.000

0.000

0.000

NETWORTH

328.170

317.453

317.361

LOAN FUNDS

 

 

 

1] Secured Loans

66.795

69.779

259.427

2] Unsecured Loans

193.776

155.628

0.758

TOTAL BORROWING

260.571

225.407

260.185

DEFERRED TAX LIABILITIES

7.552

12.565

29.656

 

 

 

 

TOTAL

596.293

555.425

607.202

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

332.156

347.549

410.960

Capital work-in-progress

20.663

9.891

14.924

 

 

 

 

INVESTMENT

5.446

1.134

0.000

DEFERRED TAX ASSETS

0.000

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
268.448

211.884
171.365

 

Sundry Debtors
188.454

143.082
96.720

 

Cash & Bank Balances
15.145

16.449
10.442

 

Other Current Assets
0.016

0.099
0.000

 

Loans & Advances
93.806

94.242
56.557

Total Current Assets
565.869

465.756
335.084

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Sundry Creditors
232.764

201.185
126.501

 

Other Current Liabilities
81.261

49.888
19.610

 

Provisions
13.816

17.832
7.655

Total Current Liabilities
327.841

268.905
153.766

Net Current Assets
238.028

196.851
181.318

 

 

 

 

MISCELLANEOUS EXPENSES

0.000

0.000

0.000

 

 

 

 

TOTAL

596.293

555.425

607.202

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2012

31.03.2011

31.03.2010

 

SALES

 

 

 

 

 

Revenue from operations

1203.822

1076.463

844.134

 

 

Other Income

2.068

2.240

12.454

 

 

TOTAL                                     (A)

1205.890

1078.703

856.588

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of materials consumed

936.692

810.351

 

 

 

Changes in inventories of finished goods, work-in-progress and stock-in-trade

(40.708)

(27.169)

 

 

 

Employee benefit expense

80.645

65.196

 

 

 

Other expenses

130.261

128.488

 

 

 

Extraordinary item

0.000

(25.286)

 

 

 

TOTAL                                     (B)

1106.890

951.580

785.049

 

 

 

 

 

Less

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)      (C)

99.000

127.123

71.539

 

 

 

 

 

Less

FINANCIAL EXPENSES                         (D)

32.507

29.783

26.885

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                                       (E)

66.493

97.340

44.654

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

45.905

49.591

36.982

 

 

 

 

 

 

PROFIT BEFORE TAX (E-F)                               (G)

20.588

47.749

7.672

 

 

 

 

 

Less

TAX                                                                  (H)

1.508

8.295

0.665

 

 

 

 

 

 

PROFIT AFTER TAX (G-H)                                (I)

19.080

39.454

7.007

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

Export Earnings

11.926

12.062

23.748

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Raw Materials

 

13.956

22.590

 

 

Capital Goods

 

0.000

4.595

 

TOTAL IMPORTS

N.A.

13.956

27.185

 

 

 

 

 

 

Earnings Per Share (Rs.)

4.82

10.28

4.37

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2012

31.03.2011

31.03.2010

PAT / Total Income

(%)
1.58

3.66

0.82

 

 
 

 

 

Net Profit Margin

(PBT/Sales)

(%)
1.71

4.44

0.91

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)
2.29

5.87

1.03

 

 
 

 

 

Return on Investment (ROI)

(PBT/Networth)

 
0.06

0.15

0.02

 

 
 

 

 

Debt Equity Ratio

(Total Debt/Networth)

 
0.79

0.71

0.82

 

 
 

 

 

Current Ratio

(Current Asset/Current Liability)

 
1.73

1.73

2.18

 

 

LOCAL AGENCY FURTHER INFORMATION

 

 

Sr. No.

Check List by Info Agents

Available in Report (Yes / No)

1]

Year of Establishment

Yes

2]

Locality of the firm

Yes

3]

Constitutions of the firm

Yes

4]

Premises details

No

5]

Type of Business

Yes

6]

Line of Business

Yes

7]

Promoter's background

Yes

8]

No. of employees

No

9]

Name of person contacted

No

10]

Designation of contact person

No

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

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

Yes

33]

Voter ID No of Proprietor/Partner/Director, if available

No

34]

External Agency Rating, if available

Yes

 

 

UNSECURED LOANS

 

Unsecured Loans

31.03.2012

31.03.2011

 

 

(Rs. In Millions)

Loans and advances from directors

20.150

20.090

Loans and advances from others

0.437

6.261

Term loans from banks

173.189

129.277

Total

193.776

155.628

 

 

OPERATIONS

 

The company has registered increase in the turnover by 10% in comparison to previous year. Automobile sector in the country has shown rapid growth and sales of vehicles have increased by month after month. In line with the growth in the sector, they expect their sales also to grow in future years to come and the Company will continue its efforts to improve the operations reduce costs and thereby improve the overall performance. The Company has good number of enquiries from Auto Manufacturers, which should result in big orders in future year and thus, expects to generate growth in turnover by entering into supplies to Heavy Vehicle Manufacturers.

 

 

MERGER

 

The Board of Directors of the Company in the meeting held on 31.08.2011, has approved the merger of the Company with PCP Auto Interiors Private Limited (PCPAI) and Indo Dutch Carpet Mfg. (Private) Limited (IDCM). Pursuant to this approval the company is in process of filing documents, with the Honourable High Court of Kolkata, a scheme of amalgamation entailing merger of the Company with PCPAI and IDCM w.e.f the appointed date i.e. 1st April’ 2011.

 

 

BANKERS CHARGES REPORT AS PER REGISTRY

 

Corporate identity number of the company

U24121WB1989PLC046056

Name of the company

PARACOAT PRODUCTS LIMITED

Address of the registered office or of the principal place of  business in India of the company

32A, Chittaranjan Avenue, 4th Floor, Kolkata – 700012, West Bengal, India

Email: paracoat.kolkata@gmail.com

This form is for

Modification of charge

Charge identification number of the modified 

90252753

Type of charge

Immovable property

Book debts

Movable property (not being pledge)

Others [Pledge of Term Deposit]

Particular of charge holder

Canara Bank, Princep Street Branch, 25, Princep Street, Kolkata – 700072, West Bengal, India

Email: vaskardas@rediffmail.com

Nature of description of the instrument creating or modifying the charge

1) Letter extending/enhancing credit facility i.e OCC/ODD dated 19.10.2012.

2) Supplementary Hypothecation Agreement dated 19.10.2012.

Date of instrument Creating the charge

19.10.2012

Amount secured by the charge

Rs. 315.000 Millions

Brief particulars of the principal terms an conditions and extent and operation of the charge

Rate of Interest

As per existing terms and conditions.

 

Terms of Repayment

OCC/ODBD of 7.500 Millions (now sanctioned) is repayable on demand or 90 days from the date of disbursement whichever is earlier.

 

All other credit facilities will be repaid as per existing terms and conditions.

 

Margin

As per existing terms and conditions.

 

Extent and Operation of the charge

Primary Security

Hypothecation of Stock of raw material, WIP, semi finished goods, finished goods and book debts both present and future.

 

Collateral Security

1) All plant and machinery situated at Pune,Bhiwadi-Rajasthan(RIICO and Pathredi) and Hosur (Tamil Nadu).

2) EMT of immovable property at Kuruli (Chakan) Tel Khed Dist-Pune, RIICO Industrial Area, Bhiwadi and Hosur, Tamil Nadu details of which is given in point no 15 of this form.

3) Pledge of Term Deposit (KDR) of Rs 1.800 Millions.

Short particulars of the property charged

First charge on Stock of raw material, WIP, semi finished goods, finished goods and book debts both present and future located at borrowers premises/factory/godown or anywhere else.

 

All plant and machinery situated at Pune, Bhiwadi-Rajasthan (RIICO and Pathredi) and Hosur (Tamil Nadu) both present and future located at borrowers premises/factory/godown or anywhere else.

 

EMT of landed property at Gat No- 624/4 and 624/6 at Kuruli (Chakan), Tal Khed Dist- Pune.

 

EMT of plot no. E- 1225, RIICO Industrial Area, Bhiwadi.

 

EMT of Plot No. 43C, Sipcot Industrial Complex, Phase I, Hosur, Tamilnadu.

Date of Modification

24.09.2012

Particulars of the present modification 

By this modification the overall credit limit is increased from Rs 307.500 Millions to Rs. 315.000 Millions details of which is given below:

1) OCC/ODBD-   Rs.137.500 Millions.(Includes newly sanctioned amount Rs. 7.500 Millions.) 

2) ILC/FLC-         Rs.  70.000 Millions.

3) BG-                 Rs.  5.000 Millions.

4) Term Loan II - Rs.  20.000 Millions.

5) Term Loan V - Rs. 82.500 Millions.

Total                   Rs 315.000 Millions

All other terms & conditions remains unchanged.

 

 

FIXED ASSETS

 

Ø       Land

Ø       Leasehold Land

Ø       Factory Building

Ø       Plant and Machinery

Ø       Furniture and Fixture

Ø       Electrical Fitting

Ø       Office Equipment

Ø       Electrical Installation

Ø       Computer

Ø       Motor Vehicle

 

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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. 53.84

UK Pound

1

Rs. 81.24

Euro

1

Rs. 70.39

 

 

INFORMATION DETAILS

 

Report Prepared by :

BVA

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILIRY

1~10

5

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--RESERVES

1~10

5

--CREDIT LINES

1~10

5

--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

 

45

 

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

-

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.