MIRA
INFORM REPORT
|
Report Date : |
24.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
SPELL ORGANICS LIMITED |
|
|
|
|
Registered
Office : |
16/3B |
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|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
07.06.1988 |
|
|
|
|
Com. Reg. No.: |
55-031991 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.4.571 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24239DL1988PLC031991 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturers of Emulsifiers for the Confectionery
Food Chemical and Bakery Industries |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 89400 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having satisfactory track record. There appears slight increases in the sales turnover as well as net profitability
during 2012. Trade relations are fair. Business is active. Payments terms are
usually correct. The company can be considered can be normal for business dealings at
usual trade terms and conditions. |
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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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 : |
16/3B, Ansari Road, Daryaganj, New Delhi – 110002, India |
|
Tel. No.: |
91-11-23281645, 23281629 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
128, Rozka Meo Industrial Estate, Tehsil: Nuh, District Mewat – 122103,
Haryana, India |
|
Tel. No.: |
91-9254303750 |
|
Fax No.: |
91-11-23252582 |
DIRECTORS
As on: 29.09.2012
|
Name : |
Mr. Suresh Kumar Mundhra |
|
Designation : |
Director |
|
Address : |
N-43, Greater Kailash – 1, New Delhi – 110048, India |
|
Date of Birth/Age : |
03.06.1959 |
|
Date of Appointment : |
22.09.1995 |
|
DIN No. : |
00340291 |
|
|
|
|
Name : |
Mr. Balram Singi |
|
Designation : |
Director |
|
Address : |
KL – 78, Kavinagar, Ghaziabad - 201001, Uttar Pradesh, India |
|
Date of Birth/Age : |
13.08.1958 |
|
Date of Appointment : |
24.12.2001 |
|
DIN No. : |
02725976 |
|
|
|
|
Name : |
Mr. Ramavtar Sharma |
|
Designation : |
Director |
|
Address : |
19, Sundariya, Bhukharon Ki Dhani, Fulera, Jaipur – 301201, Rajasthan,
India |
|
Date of Birth/Age : |
15.08.1962 |
|
Date of Appointment : |
29.03.2011 |
|
DIN No. : |
02895514 |
|
|
|
|
Name : |
Mr. Jagdish Prasad Lahoti |
|
Designation : |
Director |
|
Address : |
160, Pandya Dharamshala, Ward No. 16, Sujangarh, Churu, Jaipur – 331507,
Rajasthan, India |
|
Date of Birth/Age : |
02.01.1960 |
|
Date of Appointment : |
29.03.2011 |
|
DIN No. : |
03479773 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 29.09.2012
|
Names of Shareholders |
No. of Shares |
|
Madhurica Mundhra |
193540 |
|
Shree Kumar Mundhra |
87010 |
|
Suresh Kumar Mundhra |
87025 |
|
Sangita Mundhra |
100 |
|
Nikhil Mundhra |
1000 |
|
Madan Lal Mundhra |
1000 |
|
Jagdish Prasad Lahoti |
100 |
|
Balram Singi |
100 |
|
Ramavtar Sharma |
100 |
|
Shiv Kumar Jain |
20450 |
|
Sidhartha Jain |
2863 |
|
Pigment and Chromate India Private Limited |
21277 |
|
S.K. Consultants Limited |
21277 |
|
Bengal Polyplus Private Limited |
21277 |
|
|
|
|
Total |
457119 |
As on: 29.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
13.96 |
|
Directors or relatives of Directors |
80.94 |
|
Other top fifty shareholders |
5.10 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers of Emulsifiers for the Confectionery
Food Chemical and Bakery Industries |
PRODUCTION STATUS AS ON 31.03.2011
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Lactic Acid |
Kg. |
N.A |
-- |
11000 |
|
Sol Bake |
Kg. |
N.A |
* |
533290 |
|
Bread improver |
Kg. |
N.A |
* |
29375 |
|
PGPR |
Kg. |
N.A |
* |
16100 |
|
S.S.L. |
Kg. |
N.A |
* |
9000 |
*Installed capacity is subject to product mix
and utilization of plant and machinery, which is common for different products.
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
Punjab National Bank, 13, Alipur Road, Civil Lines, New Delhi –
110054, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Oswal Sunil and Company Chartered Accountants |
|
Address : |
71, Daryaganj, New Delhi – 110002, India |
|
PAN No. : |
AABF02315D |
|
|
|
|
Enterprises over which key management personal have significant
influence : |
·
B and M Corporation ·
S.V. Corporation |
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
457119 |
Equity Shares |
Rs.10/- each |
Rs.4.571 Millions |
|
|
|
|
|
Details of share holding more than 5% shares in the company
|
Name of the
shareholder |
No. of Shares |
% of holding in the class |
|
Suresh Kumar
Mundhra |
46000 |
10 |
|
Madhurica Mundhra |
193540 |
42 |
|
Shree Kumar Mundhra |
46585 |
10 |
|
Prompt Fincap Private Limited |
81450 |
18 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
4.571 |
4.571 |
|
(b) Reserves & Surplus |
|
13.634 |
11.988 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
4.150 |
4.150 |
|
|
|
|
|
|
(3)
Non-current liabilities |
|
|
|
|
(a) long-term borrowings |
|
3.733 |
3.731 |
|
(b) Deferred tax liabilities (Net) |
|
0.459 |
0.362 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
|
|
0.000 |
0.000 |
|
(4) Current liabilities |
|
|
|
|
(a) Short term
borrowings |
|
18.877 |
14.857 |
|
(b) Trade payables |
|
0.967 |
14.100 |
|
(c) Other current
liabilities |
|
0.921 |
2.148 |
|
(d) Short-term provisions |
|
0.675 |
1.089 |
|
TOTAL |
|
47.987 |
56.996 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
18.355 |
18.860 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.063 |
0.059 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
14.212 |
11.833 |
|
(c) Trade receivables |
|
13.974 |
23.008 |
|
(d) Cash and cash
equivalents |
|
0.222 |
0.077 |
|
(e) Short-term loans
and advances |
|
1.133 |
2.989 |
|
(f) Other current
assets |
|
0.028 |
0.170 |
|
TOTAL |
|
47.987 |
56.996 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
4.571 |
|
|
2] Share Application Money |
|
|
4.150 |
|
|
3] Reserves & Surplus |
|
|
10.531 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
19.252 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
23.386 |
|
|
2] Unsecured Loans |
|
|
2.620 |
|
|
TOTAL BORROWING |
|
|
26.006 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.230 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
45.488 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
19.108 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
11.352 |
|
|
Sundry Debtors |
|
|
8.214 |
|
|
Cash & Bank Balances |
|
|
4.016 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
4.608 |
|
Total
Current Assets |
|
|
28.190 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
0.000 |
|
|
Other Current Liabilities |
|
|
0.704 |
|
|
Provisions |
|
|
1.106 |
|
Total
Current Liabilities |
|
|
1.810 |
|
|
Net Current Assets |
|
|
26.380 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
45.488 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
153.869 |
122.379 |
110.568 |
|
|
|
Other Income |
0.032 |
0.187 |
0.490 |
|
|
|
TOTAL (A) |
153.901 |
122.566 |
111.058 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Material Consumed |
136.860 |
103.666 |
|
|
|
|
Other Direct Expenses |
3.347 |
3.189 |
|
|
|
|
Changes in Inventories of Finished Goods, Work-in-progress and Stock-in-trade |
(1.019) |
3.700 |
|
|
|
|
Employee Benefit Expenses |
3.969 |
3.264 |
|
|
|
|
Other Expenses |
3.820 |
2.563 |
|
|
|
|
TOTAL (B) |
146.977 |
116.382 |
105.931 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
6.924 |
6.184 |
5.127 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
2.989 |
2.687 |
1.998 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
3.935 |
3.497 |
3.129 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.472 |
1.409 |
1.202 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
2.463 |
2.088 |
1.927 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
0.818 |
0.631 |
0.649 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
1.645 |
1.457 |
1.278 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
7.350 |
5.893 |
4.615 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
8.995 |
7.350 |
5.893 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export at F.O.B Value |
3.100 |
2.072 |
1.471 |
|
|
TOTAL EARNINGS |
3.100 |
2.072 |
1.471 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.60 |
3.19 |
2.80 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.07
|
1.19 |
1.15 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.60
|
1.71 |
1.74 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.13
|
3.55 |
4.07 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.11
|
0.10 |
0.10 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.01
|
0.90 |
1.33 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
11.56
|
2.20 |
15.57 |
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 |
Yes |
|
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 |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No
of Proprietor/Partner/Director, if available |
No |
|
34] |
External
Agency Rating, if available |
No |
UNSECURED LOAN:
|
Particulars |
31.03.2012 [Rs.
in Millions] |
31.03.2011 [Rs.
in Millions] |
|
Long Term
Borrowing |
|
|
|
Loan and
Advances from related Parties |
|
|
|
From Director |
1.480 |
1.190 |
|
From Relatives |
2.253 |
1.937 |
|
|
|
|
|
Total |
3.733 |
3.127 |
BANKER CHARGES
REPORT AS PER REGISTRY:
|
Corporate
identity number of the company |
U24239DL1988PLC031991 |
|
Name of the
company |
SPELL
ORGANICS LIMITED |
|
Address of the
registered office or of the principal place of business in |
16/28 Ansari Road, Daryganj, New Delhi – 110002, India E-Mail - info@spellorganics.com
|
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be
modified |
10086179 |
|
Type of charge |
Immovable property |
|
Particular of
charge holder |
Punjab National Bank, 13, Alipur Road, Civil Lines, New Delhi –
110054, India E-Mail- virendradel@gmail.com
|
|
Nature of
instrument creating charge |
Letter
of continuity for extension of charge on co's immovable property |
|
Date of
instrument Creating the charge |
19.11.2012 |
|
Amount secured by
the charge |
Rs.36.500 Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of
interest: N.A Term
of Payment: N.A Margin: N.A Extent and
operation of the charge: 100%. Exclusive
First Charge. Others: The
said charge is mortgage to collaterally secure various credit facilities
aggregating to Rs.36.500 millions granted by the bank to the Company :- 1.
Cash Credit (Hyp.) - Rs.25.000 millions 2.
Packing Credit - Rs.3.500 millions 3.
FOBP - Rs.4.000 millions Ceiling
- Rs.29.000 millions 4.
Term Loan (Fresh) - Rs.7.500 millions Total - Rs.36.500 millions |
|
Short particulars
of the property charged (Including location of the property) |
Equitable
mortgage / extension of charge on immovable property situated at 128,
Industrial Estate Rozkameo, Teh. Nuh, Gurgaon, comprising of land admeasuring
4000 square meters - and building together with all present and future
construction / infrastructure thereon. |
|
Particulars of the present modification |
The
amount of charge over immovable property of the company situated at 128,
Industrial Estate Rozkameo, Teh. Nuh, Gurgaon, measuring 4000 sq. mtrs.
Stands revised/realligned/enhanced to Rs.36.500 millions to collaterally
secure various credit facilities as detailed in col. no.13 above granted to
the company. Other
terms and conditions remained the same. |
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Fire Equipment
·
Lab Equipment
·
Furniture and Fixture
·
Office Equipment
·
Computers
·
Electrical Installation
·
Air Conditioner
·
Generator
·
Motor vehicles
·
Motor cycle
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 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 tansactions 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.59.35 |
|
|
1 |
Rs.92.11 |
|
Euro |
1 |
Rs.78.59 |
INFORMATION DETAILS
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
43 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.