MIRA
INFORM REPORT
|
Report Date : |
05.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
PRATUL CHEMICALS PRIVATE LIMITED |
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Registered
Office : |
27, Shahani Colony, |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
24.04.2008 |
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Com. Reg. No.: |
11-181504 |
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Capital
Investment / Paid-up Capital : |
Rs.0.100
Million |
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CIN No.: [Company Identification
No.] |
U24100MH2008PTC181504 |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturing of speciality chemicals and trading of pigments and allied products. |
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No. of Employees
: |
Information declined by the management. |
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 6000 |
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|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a moderate track record. The company has modest scale of operation. There appear huge external
borrowings as compared to net worth. However, trade relations are fair. Business is active. Payment terms
are 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.
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 DENIED BY
|
Name : |
Ms. Rinku |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-22-25343039 |
|
Date : |
04.06.2013 |
LOCATIONS
|
Registered Office : |
27, Shahani Colony, Navghar
Road, Mulund (East) Mumbai – 400081, Maharashtra,
India |
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Tel. No.: |
Not Available |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
DIRECTORS
As on: 28.09.2012
|
Name : |
Mr. Ashok Thanwardas
Gulrajani |
|
Designation : |
Director |
|
Address : |
501, 5th Floor, Sumer Castle, E
Wing, Old Agra Road, Thane (West), Thane, Maharashtra,
India |
|
Date of Appointment : |
24.04.2008 |
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DIN No.: |
01998470 |
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Name : |
Mr. Atul Ashok Gulrajani |
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Designation : |
Director |
|
Address : |
501, 5th Floor, Sumer Castle, E
Wing, Old Agra Road, Thane (West), Thane, Maharashtra,
India |
|
Date of Appointment : |
24.04.2008 |
|
DIN No.: |
02042299 |
KEY EXECUTIVES
|
Name : |
Ms. Rinku |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS
As on: 28.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Mr. Ashok Thanwardas Gulrajani |
|
750 |
|
Mr. Atul Ashok Gulrajani |
|
250 |
|
Total |
|
1000 |
Equity Share Break up (Percentage of Total Equity)
As on: 28.09.2012
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of speciality chemicals and trading of pigments and allied products. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management. |
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Bankers : |
· Thane Janata Sahakari Bank ·
Standard Chartered Bank |
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Facilities : |
(Rs. In Millions)
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Anand Mukul
Associates Chartered Accountants |
|
Address : |
2 Hazari Bhuvan,
Dr. R. P. Road, Mulund (West), Mumbai – 400080,
Maharashtra, India |
|
PAN No.: |
AAAFA8594P |
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4500 |
Equity Shares |
Rs.100/- each |
Rs.0.450 Million |
|
500 |
Preference Shares |
Rs.100/- each |
Rs.0.050 Million |
|
|
Total |
|
Rs.0.500 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000 |
Equity Shares |
Rs.100/- each |
Rs.0.100
Million |
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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 |
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1] Share Capital |
0.100 |
0.100 |
0.100 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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|
3] Reserves & Surplus |
1.412 |
0.828 |
0.325 |
|
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
1.512 |
0.928 |
0.425 |
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|
LOAN FUNDS |
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|
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|
1] Secured Loans |
3.068 |
2.160 |
2.311 |
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2] Unsecured Loans |
9.244 |
6.391 |
3.695 |
|
|
TOTAL BORROWING |
12.312 |
8.551 |
6.006 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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|
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|
|
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TOTAL |
13.824 |
9.479 |
6.431 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.846 |
0.247 |
0.321 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.136 |
0.125 |
0.264 |
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DEFERREX TAX ASSETS |
0.020 |
0.022 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
3.120
|
1.361 |
0.000 |
|
|
Sundry Debtors |
14.720
|
11.556 |
7.363 |
|
|
Cash & Bank Balances |
0.772
|
0.632 |
1.685 |
|
|
Other Current Assets |
0.929
|
0.595 |
1.222 |
|
|
Loans & Advances |
1.927
|
1.763 |
1.438 |
|
Total
Current Assets |
21.468
|
15.907 |
11.708 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
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|
Sundry Creditors |
8.163
|
6.612 |
5.905 |
|
|
Other Current Liabilities |
0.483
|
0.210 |
0.000 |
|
|
Provisions |
0.000
|
0.000 |
0.000 |
|
Total
Current Liabilities |
8.646
|
6.822 |
5.905 |
|
|
Net Current Assets |
12.822
|
9.085 |
5.803 |
|
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.043 |
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|
|
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TOTAL |
13.824 |
9.479 |
6.431 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
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SALES |
|
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|
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Income |
54.146 |
46.424 |
32.079 |
|
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Other Income |
0.386 |
0.196 |
0.104 |
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TOTAL (A) |
54.532 |
46.620 |
32.183 |
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Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases(Net of Vat) |
53.684 |
41.896 |
29.422 |
|
|
|
CST paid |
|
0.317 |
0.153 |
|
|
|
Administration & selling |
|
2.676 |
1.460 |
|
|
|
Preliminary exp.w/off. |
|
0.004 |
0.004 |
|
|
|
TOTAL (B) |
53.684 |
44.893 |
31.039 |
|
|
|
|
|
|
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|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(Including
Depreciation and Financial Expenses) |
1.727 |
1.144 |
|
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|
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|
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|
Less |
FINANCIAL
EXPENSES (D) |
|
0.980 |
0.613 |
|
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|
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|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
0.747 |
0.531 |
|
|
|
|
|
|
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
0.092 |
0.104 |
|
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|
PROFIT BEFORE
TAX (E-F) (G) |
0.848 |
0.655 |
0.427 |
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|
|
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|
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Less |
TAX (H) |
0.262 |
0.211 |
0.143 |
|
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|
PROFIT AFTER TAX
(G-H) (I) |
0.586 |
0.444 |
0.284 |
|
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|
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|
Add |
Provision for tax
(A.Y 2010-11) |
0.000 |
0.200 |
0.000 |
|
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|
|
|
|
Add |
Deferred tax assets |
0.000 |
0.008 |
0.011 |
|
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|
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|
Less |
Advance tax/ TDS /
FBT Previous Year w/off |
0.000 |
0.148 |
0.061 |
|
|
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|
|
|
|
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|
BALANCE CARRIED
TO THE B/S |
NA |
0.503 |
0.234 |
|
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|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
586.00 |
444.00 |
284.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.07
|
0.95 |
0.88 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.57
|
1.41 |
1.33 |
|
|
|
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|
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.80
|
4.05 |
3.55 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.56
|
0.71 |
1.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
8.14
|
9.21 |
14.13 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.48
|
2.33 |
1.98 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS:
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
|
|
|
Creditors For Goods |
7.880
|
6.279 |
0.325 |
|
Creditors For Expenses |
0.283
|
0.333 |
5.580 |
|
Total |
8.163
|
6.612 |
5.905 |
|
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 |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm / promoter involved in |
---------------------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
---------------------- |
|
26] |
Buyer visit details |
---------------------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
No |
|
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 |
PERFORMANCE DURING
THE CURENT YEAR:
The Director expects to achieve better performance during the current year. The market conditions are improving and the company has received good orders which should improve the profitability of the company considerably.
UNSECURED LOAN:
(Rs. in Millions)
|
Particulars |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
LONG-TERM
BORROWINGS |
|
|
|
Loan From Banks |
|
|
|
Standard Chartered Bank |
3.065 |
1.696 |
|
Loan From Directors
/Relatives |
|
|
|
Mrs. I.A. Gulrajani |
0.150 |
0.150 |
|
M.T. Gulrajani |
0.500 |
0.400 |
|
T.J. Gulrajani |
1.720 |
1.720 |
|
Atul Gulrajan |
0.275 |
0.275 |
|
Platinum Enterprise (Director's HUF) |
0.150 |
0.150 |
|
Loan From Other
Parties |
|
|
|
The TJSB LTD(Auto Finance Loan) |
0.384 |
0.000 |
|
Kankai Investments and Holdings Private Limited (ICD) |
3.000 |
1.500 |
|
Perfect Proteins Private Limited |
0.000 |
0.500 |
|
Total |
9.244 |
6.391 |
FIXED ASSETS:
· Motor Car
· Air Conditioner
· Computer system
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 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.56.64 |
|
|
1 |
Rs.86.69 |
|
Euro |
1 |
Rs.73.97 |
INFORMATION DETAILS
|
Information Gathered
by : |
PDT |
|
|
|
|
Report Prepared
by : |
RAJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--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 |
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.