MIRA INFORM REPORT

 

 

 

 

Report Date :

09.01.2013

 

IDENTIFICATION DETAILS

 

Name :

SUNRISE INFO SOLUTIONS PRIVATE LIMITED

 

 

Registered Office :

622, Corporate Avenue, Sonawal Lane, Near Udyog Bhavan, Goregaon East, Mumbai – 400063, Maharashtra

 

 

Country :

India

 

 

Financials (as on) :

31.03.2012

 

 

Date of Incorporation :

23.02.2005

 

 

Com. Reg. No.:

11-151519

 

 

Capital Investment/ Paid-up Capital:

Rs.2.846 Millions

 

 

CIN No.:

[Company Identification No.]

U72100MH2005PTC151519

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUMS48028B

 

 

PAN No.:

[Permanent Account No.]

AAICS8079A

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Trader and Importer of Computer Peripherals.

 

 

No. of Employees:

30 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (36)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 96000

 

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is a successor of proprietory concern started in the year 1996 with the name “Sunrise Overseas”. And later in the 2005 it got converted into private limited.

 

It is having moderate track record. The company performance capacity is high. But the profitability appears to be low. 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 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 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

 

Name :

Mr. Rajendra Prasad Kariwala

Designation :

Director

Contact No.:

91-9821240416

 

 

LOCATIONS

 

Registered Office :

622, Corporate Avenue, Sonawal Lane, Near Udyog Bhavan, Goregaon East, Mumbai – 400063, Maharashtra, India 

Tel. No.:

91-22-26868101/04

Mobile No.:

91-9821240416 (Mr. Ravinder)

Fax No.:

91-22-26868101/04

E-Mail :

sunriseinto@vsnl.com

sun@bom5.vsnl.net.in

sun@bom7.vsnl.net.in

Location:

Owned

Area :

280 Carpet area

 

 

Warehouse :

A44, Patel Estate, Survey No.11, Hissa No BC, Neelgiri Stop Village Devdal, Taluka-Vasai, District Thane, Maharashtra, India

 

 

Branch Office 1 :

17, Shrihari Complex, Lad Society Road, Vastrapour, Ahmedabad-380015, Gujarat, India

Tel. No.:

91-79-32946394

 

 

Branch Office 2 :

210, Radhika Complex, Loha Mandi, S C Road, Jaipur-302001, Rajasthan, India

Tel. No.:

91-141-3231475

 

 

Branch Office 3 :

122-B, Hemkunt Chambers, 1st Floor, 89, Nehru Place, New Delhi-110019, India

Tel. No.:

91-11-32420434

 

 

DIRECTORS

 

AS ON 29.09.2012

 

Name :

Mr. Ravindra Prasad Kariwala

Designation :

Director

Address :

Room No.102, 2nd Floor, Swadeshi Market, Kalbadevi Road, Mumbai – 400 002, Maharashtra, India.

Date of Birth/Age :

30.09.1966

Qualification :

B.Com

Date of Appointment :

23.02.2005

DIN No.:

02024304

 

 

Name :

Mr. Rajendra Prasad Kariwala

Designation :

Director

Address :

C 1502 Oberio Garden, Thakur Village, Kandivali (East), Mumbai – 400 101, Maharashtra, India.

Date of Birth/Age :

50 Years

Qualification :

B.Com

Date of Appointment :

23.02.2005

DIN No.:

02020707

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 29.09.2012

 

Names of Shareholders

No. of Shares

Ravindra Kariwala

57000

Rajendra Kariwala

33000

Chandra Kala N Kariwala

3

Jamuna devi kariwala

23003

Joyti Kanodia

1

Kiran Kariwala

1

Bhagwati Devi Kariwla

1

Satyanarayan Kariwala

1

Mahendra Kariwla

27401

Nand Kishore Rathi

1

Memi Devi Rathi

1

Radha Devi Kanodia

1

Ramnarayan Rathi

1

Renu Kariwala

1

Sandeep Kariwala

1

Dwaraka Prasad Kanodia

1

Shyam Kanodia (HUF)

1

Shyam Kanodia

1

Sohanlal Rathi

1

Subhash Kariwala

1

Sudha S Kariwala

1

Surendra Kariwala

10001

Vimla Rathi

1

Rajendra Prasad Kariwala (HUF)

17200

SB Components Private Limited

120000

Suman Agarwal

1

Dwarka Prasad & Sons (HUF)

1

Madanlal Didwaniya

1

Rajneesh Joshi

1

Shashi Rajesh Chandak

1

TOTAL

287630

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 29.09.2012

 

Category

 

Percentage

Bodies corporate (not mentioned above)

41.72

Directors or relatives of directors

48.82

Others

9.46

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Trader and Importer of Computer Peripherals.

 

 

Imports :

 

Products :

Computer Peripherals

Countries :

·         Dubai 

 

 

Terms :

 

Selling :

Credit (30 Days)

 

 

Purchasing :

Credit (30 Days)

 

 

GENERAL INFORMATION

 

Customers :

Wholesalers and Retailers

 

 

No. of Employees :

30 (Approximately)

 

 

Bankers :

·         Union Bank of India, Mahavir Building, K.N. Jhaveri Road Kambhartukda, Mumbai, Maharashtra, India

·         HDFC Bank, Goregaon (East), Mumbai, Maharashtra, India

 

 

Facilities :

 

Cash Credit limit – Rs.92.500 Millions (HDFC Bank )

 

Secured Loans

As on 31.03.2012

Rs. in millions

As on 31.03.2011

Rs. in millions

From Banks

66.586

41.869

 

 

 

TOTAL

66.586

41.869

 

 

 

Unsecured Loans

As on 31.03.2012

Rs. in millions

As on 31.03.2011

Rs. in millions

Loans and Advances

 

 

From Related party

10.844

8.239

From Others

5.839

6.342

 

 

 

TOTAL

16.684

14.581

 

The cash credit facilities and buyers credit facility form HDFC Bank amounting Rs.66.586 Millions (Previous year 41.869 Millions) is secured against hypothecation of stock and book debts of the company and equitable mortgage of properties of directors and their relatives.

 

Loans form the directors and shareholders amounting to Rs.16.684 Millions (Previous year Rs,14.581 millions) are unsecured of the above loans from only two parties  carry on interest of 12% p.a. all the above loans are repayable on demand.

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Singrodia Goyal and Company

Chartered Accountants

Address :

A-201, Rajeshri Accord, Telly Cross Lane, Off S. N. Road, Andheri (East) Mumbai - 400 069, Maharashtra, India

Tel. No.:

91-22-42256363

Fax No.:

91-22-42256364

E-Mail :

info@sgco.co.in

Pan No.:

AAAFS7106D

 

 

Associates/Subsidiaries :

·         Monica Overseas, Hyderabad (Mr. Narendra Kariwar, Proprietor)

Address : Room No.202, Mittal Chambers, 2nd Floor, M G Road, Secunderabad-500003, Andhra Pradesh, India

Line of Business : Importer of Computer Parts

 

·         Brightex Securities Private Limited

·         Mohit Infocomm

 

·         SB Components Private Limited

Activity: Room No.102, 2nd Floor, Swadesh Market, Kalbadevi Road, Mumbai – 400 002, Maharashtra, India.

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2012

 

Authorised Capital :        

 

No. of Shares

Type

Value

Amount

 

 

 

 

300000

Equity Shares

Rs.10/- each

Rs.3.000 Millions

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

 

No. of Shares

Type

Value

Amount

 

 

 

 

287630

Equity Shares

Rs.10/- each

Rs.2.876 Millions

 

 

 

 

 

NOTE

 

TERMS AND CONDITIONS

 

The company has only one class of equity shares having a par value of Rs.10 per share. Each holder of equity share is entitled to one vote per share

 

In the event of liquidation of the company, the holder of equity shares will be entitled to receive remaining assets of the company, after distribution of all preferential amounts. The distribution will be in proportion of the number of equity shares held by the share holder

 

Shares having more then 5 % shareholding

 

Names of Shareholders

No. of Shares

Percentage of Holding

Jamunadevi Kariwala

23003

8.00

Mahendra Kariwal

27401

9.53

M/s S.B Components Private Limited

120000

41.72

Rajendra Kariwala (HUF)

17200

5.98

Rajendra Kariwala

33000

11.47

Ravindra Kariwala

57000

19.82

 

 

 

   

Reconciliation of number of shares

 

Particular

As on 31.03.2012

Number

Amount

Shares outstanding at the beginning of the year

287630

2.876

Shares issued during the year

-

-

Shares bought back during the year

-

-

Shares outstanding at the end of the year

287630

2.876

 

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

2.876

2.876

2.876

2] Share Application Money

0.000

0.000

0.000

3] Reserves & Surplus

21.144

21.049

20.819

4] (Accumulated Losses)

0.000

0.000

0.000

NETWORTH

24.020

23.925

23.695

LOAN FUNDS

 

 

 

1] Secured Loans

66.586

41.869

42.709

2] Unsecured Loans

16.684

14.581

19.441

TOTAL BORROWING

83.270

56.450

62.150

DEFERRED TAX LIABILITIES

0.172

0.192

0.180

 

 

 

 

TOTAL

107.462

80.567

86.025

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

2.665

2.746

2.281

Capital work-in-progress

0.000

0.000

0.000

 

 

 

 

INVESTMENT

0.001

0.001

0.001

DEFERREX TAX ASSETS

0.000

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
26.936

49.679
33.568

 

Sundry Debtors
48.629

22.732
26.256

 

Cash & Bank Balances
19.212

9.495
9.088

 

Other Current Assets
3.978

10.480
0.000

 

Loans & Advances
39.169

73.602
37.845

Total Current Assets
137.924

165.988

106.757

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Sundry Creditors
18.459

32.573

13.832

 

Other Current Liabilities
14.669

55.595
5.196

 

Provisions
0.000

0.000
3.986

Total Current Liabilities
33.128

88.168

23.014

Net Current Assets
104.796

77.820

83.743

 

 

 

 

MISCELLANEOUS EXPENSES

0.000

0.000

0.000

 

 

 

 

TOTAL

107.462

80.567

86.025

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2012

31.03.2011

31.03.2010

 

 

SALES

 

 

 

 

 

Income

724.166

670.606

830.404

 

 

Other Income

4.650

9.406

1.253

 

 

TOTAL                                     (A)

728.816

680.012

831.657

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Purchase of stock in trade

679.352

674.637

 

 

 

Employee Benefits

5.467

5.460

 

 

 

Other Expense

16.490

9.377

 

 

 

Changes in inventories of finished goods

22.742

(16.111)

 

 

 

Prior period expense

 

0.004

 

 

 

TOTAL                                     (B)

724.051

673.367

812.983

 

 

 

 

 

Less

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

4.765

6.645

18.674

 

 

 

 

 

Less

FINANCIAL EXPENSES                         (D)

4.269

5.942

7.600

 

 

 

 

 

 

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

0.496

0.703

11.074

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

0.372

0.324

0.290

 

 

 

 

 

 

PROFIT BEFORE TAX (E-F)                               (G)

0.124

0.379

10.784

 

 

 

 

 

Less

TAX                                                                  (H)

0.029

0.149

3.984

 

 

 

 

 

 

PROFIT AFTER TAX (G-H)                                (I)

0.095

0.230

6.800

 

 

 

 

 

 

Prior Period Expenses

0.000

0.000

0.154

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

NA

NA

10.549

 

 

 

 

 

 

BALANCE CARRIED TO THE B/S

NA

NA

17.195

 

 

 

 

 

 

IMPORTS

 

 

 

 

C.I.F. Value of Purchases

NA

566.481

468.759

 

TOTAL IMPORTS

NA

566.481

468.759

 

 

 

 

 

 

Earnings Per Share (Rs.)

0.33

0.80

--

 

Expected Sales (2012-2013) : Rs.859.000 Millions

 

The above information has been parted by Mr. Rajendra Prasad Kariwala

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2012

31.03.2011

31.03.2010

PAT / Total Income

(%)

0.01

0.03

0.82

 

 

 

 

 

Net Profit Margin

(PBT/Sales)

(%)

0.01

0.06

1.30

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

0.09

0.22

9.89

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.01

0.02

0.46

 

 

 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 

4.84

6.04

3.59

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

4.16

1.88

4.64

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

 

Check List by Info Agents

Available in Report [Yes/No]

Year of Establishment

Yes

Locality of the Firm

Yes

Constitution of the firm

Yes

Premises details

Yes

Type of Business

Yes

Line of Business

Yes

Promoters background

Yes

No. of Employees

Yes

Name of Person Contacted

Yes

Designation of contact person

Yes

Turnover of firm for last three years

Yes

Profitability for last three years

Yes

Reasons for variation <> 20%

-

Estimation for coming financial year

Yes

Capital the business

Yes

Details of sister concerns

Yes

Major Suppliers

Yes

Major Customers

Yes

Payment Terms

Yes

Export / Import Details [If Applicable]

Yes

Market Information

-

Litigations that the firm / promoter involved in

-

Banking Details

Yes

Banking Facility Details

Yes

Conduct of the banking account

-

Buyer visit details

-

Financials, if provided

Yes

Incorporation details, if applicable

Yes

Last accounts filed at ROC

Yes

Major Shareholders, if applicable

Yes

Date of Birth of Proprietor/Partner/Director, if available

Yes

PAN of Proprietor/Partner/Director, if available

No

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

No

External Agency Rating, if available

No

 

Details of Sundry Creditors:

 

Particulars

 

31.03.2012

(Rs. in millions)

31.03.2011

(Rs. in millions)

31.03.2010

(Rs. in millions)

Sundry Creditors

 

 

 

- Due to Micro, Small and Medium Enterprises

--

--

--

- Due to Others

18.459

32.573

13.832

 

 

FORM 8

 

Corporate identity number of the company

U72100MH2005PTC151519

Name of the company

SUNRISE INFO SOLUTIONS PRIVATE LIMITED

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

Room No. 102, 2nd Floor, Swadesh Market, Kalbadevi Road, Mumbai – 400 002, Maharashtra, India

E-Mail: sun@bomb7.vsnl.net.in

This form is for

Creation of charge/ Modification of charge

Charge identification (ID) number of the charge to be modified

Modification of charge

Type of charge

10198697

Particular of charge holder

Book Debts

Movable Property

Floating Charge

Nature of instrument creating charge

HDFC Bank Limited, HDFC Bank House Senapati Bapat Marg, Lower Parel (West), Mumbai – 400 013, Maharashtra, India

E-Mail: RBBform8@hdfcbank.com

Date of instrument Creating the charge

Supplementary Letter of Hypothecation

Amount secured by the charge

Rs. 92.500 Millions

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

Rate of interest

Interest at the rate as may be communicated by the Bank from time to time.

 

Term of Payment:

On Demand.

 

Margin

As may be stipulated by the Bank from time to time.

 

Extent and operation of the charge

 Hypothecation by way of First Charge on Company's Stocks and Book Debts, as a continuing security as mentioned below for the repayment of Rs.92.500 Millions  together with interest, costs, charges, expenses and other moneys due and payable by the Company to the Bank.

Short particulars of the property charged (Including location of the property)

Stock in Trade, consisting of raw materials, goods in process of manufacturing finished goods, and other merchandise whatsoever being movable properties.

 

All the debts, that is, all the book debts, out standings, monies receivables, claims, bills, invoice documents, contracts, guarantees, and rights.

Date of last modification prior to the present modification

02.12.2010

Particulars of the present modification

The Charge shall now stand increased from Rs.85.000 Millions to Rs.92.500 Millions against the security of Stocks and Book Debts of the Company.

 

 

CONTINGENT LIABILITY NOT PROVIDED FOR IN RESPECT OF:

(Rs. In Millions)

PARTICULAR

31.03.2012

31.03.2011

Bank Guarantee

10.000

10.000

Differential Duty *

1.027

1.027

 

 

 

 

 

* The Company has paid Custom Duty on Import of Flash Memory at the rate of 10%. However as per the expert opinion obtained, the Company is of the view that the rate of duty receivable on the said product is 4%. The differential duty amounting to Rs.1.027 million paid by the Company is shown as receivable. 

 

 

TRADE REFERENCES:

 

·         FDC International FZE

·         Ingram Micro India Limited

·         Redington India Limited

 

FIXED ASSETS:

 

v      Plant and Machinery

v      Mobile Phone

v      Computer

v      Air Conditioner

v      Fax Machine

v      Vehicles

v      Calculator

v      Printer

v      Furniture and Fixtures

v      Office Equipments

 

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 records 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. 54.97

UK Pound

1

Rs. 88.10

Euro

1

Rs. 71.66

 

 

INFORMATION DETAILS

 

 

Information Gathered by :

SVA

 

 

Report Prepared by :

DPT

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

4

PAID-UP CAPITAL

1~10

4

OPERATING SCALE

1~10

4

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

4

--PROFITABILIRY

1~10

4

--LIQUIDITY

1~10

4

--LEVERAGE

1~10

4

--RESERVES

1~10

4

--CREDIT LINES

1~10

4

--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

TOTAL

 

36

 

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.