MIRA
INFORM REPORT
|
Report Date : |
07.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
MEGHMANI DYES AND INTERMEDIATES LIMITED |
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Registered
Office : |
Plot No. 97, Phase II, GIDC Estate Vatva, Ahmedabad – 382445, Gujarat |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
21.07.1999 |
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Com. Reg. No.: |
04-036306 |
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Capital
Investment / Paid-up Capital : |
Rs. 99.000 Millions |
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CIN No.: [Company Identification
No.] |
U24110GJ1999PLC036306 |
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PAN No.: [Permanent Account No.] |
AABCM6639D |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
The Company is exclusively in the Dyes and Intermediate
business |
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|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (53) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 7200000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having fine track record. There
appears some dip in the turnover and sharp dip in the profitability of the
company. However, general financial position of the company is good. Trade
relations are reported as fair. Business is active. Payments are reported to
be regular and as per commitment. 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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Cash Credit = A+ |
|
Rating Explanation |
Adequate degree of safety it carry low credit risk |
|
Date |
03.07.2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Bank Guarantee = A1 |
|
Rating Explanation |
Highest degree of safety it carry lowest credit risk |
|
Date |
03.07.2012 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office / Unit I : |
Plot No. 97, Phase II, GIDC Estate Vatva, Ahmedabad – 382445, Gujarat,
India |
|
Tel. No.: |
91-79- 26467511 / 25894442 / 3 / 4 |
|
Fax No.: |
91-79-25834588 |
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E-Mail : |
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Website : |
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Corporate Office : |
2nd Floor, White Cross, 15 Patel Society. Gulbai Tekra Road,
Panchvati, Ahmedabad – 380006, |
|
Tel. No.: |
91-79-26569901 / 26562827 / 26463900 |
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Fax No.: |
91-79-26463999 |
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E-Mail : |
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Unit – II : |
Plot No.100/A, Phase-II G.I.D.C, Vatva, Ahmedabad – 382445, , Gujarat,
India |
DIRECTORS
As on 31.07.2012
|
Name : |
Mr. Lalt Kantilal Patel |
|
Designation : |
Director |
|
Address : |
31, Park Hill, Near Narmada Vasahat, Opposite. Karnavati Club, Ahmedabad – 380015, Gujarat, India |
|
Date of Birth/Age : |
15.02.1967 |
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PAN No. : |
ACNPP2094C |
|
Date of Appointment : |
21.07.1999 |
|
DIN No.: |
00011773 |
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|
|
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Name : |
Mr. Natwarlal Maghjibhai Patel |
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Designation : |
Chairman Cum Managing Director |
|
Address : |
6-B, Ashok Vatika, No.1, Opposite. Ekta Farm, Ambli, Bopal Road, Bodakdev, Ahmedabad – 380058, Gujarat, India |
|
Date of Birth/Age : |
01.06.1953 |
|
PAN No. : |
AAUPP1727H |
|
Date of Appointment : |
13.03.2008 |
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DIN No.: |
00027540 |
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|
|
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Name : |
Mr. Rameshbhai Mahjibhai Patel |
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Designation : |
Chairman Cum Managing Director |
|
Address : |
No 54, Shreenath Park Society, Behind Avishkar Party Plot, Manekbaug, Ahmedabad – 380015, Gujarat, India |
|
Date of Birth/Age : |
01.03.1956 |
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PAN No. : |
ABHPP4316J |
|
Date of Appointment : |
13.03.2008 |
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DIN No.: |
00027637 |
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|
|
|
Name : |
Mr. Anand ishwerbhia Patel |
|
Designation : |
Director |
|
Address : |
53, Shrinath Park Society, Behind Manekbag, Ambawadi, Ahmedabad – 380015, Gujarat, India |
|
Date of Birth/Age : |
17.09.1962 |
|
Date of Appointment : |
21.07.1999 |
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DIN No.: |
00027836 |
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|
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Name : |
Mr. Khandwala Manubhai Mukesh |
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Designation : |
Additional Director |
|
Address : |
9, Jivan Prakash Society, St. Xaviers School Road, Ahmedabad – 380014, Gujarat, India |
|
Date of Birth/Age : |
02.08.1954 |
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Date of Appointment : |
30.10.2010 |
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DIN No.: |
02323581 |
KEY EXECUTIVES
|
Name : |
Mr. Manohar Satyanarayan Maheshwari |
|
Designation : |
Secretary |
|
Address : |
C-401, Sumadhur – II, Near Vastrapur Telephone Exchange, Vastrapur, Ahmedabad
– 380015, |
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Date of Birth/Age : |
21.06.1972 |
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Date of Appointment : |
02.04.2003 |
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PAN NO.: |
AHDPM1848E |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.07.2012
|
Names of Shareholders |
|
No. of Shares |
|
Natwarlal Maghjibhai Patel |
|
1920000 |
|
Rameshbhai Mahjibhai Patel |
|
1920000 |
|
Ganpatbhai M. Patel |
|
495000 |
|
Amitaben Kantibhai Patel |
|
1287000 |
|
Kuverben Ishwerbhai Patel |
|
297000 |
|
Shardaben Popatbhai Patel |
|
1152000 |
|
Praful Ganpatbhai Patel |
|
198000 |
|
Lalit Kantilal Patel |
|
990000 |
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|
495000 |
|
Popatbhai M. Patel |
|
36000 |
|
Anki Natwarlal Patel |
|
1050000 |
|
Karana Ramenshbhai Patel |
|
60000 |
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Total |
|
9900000 |
As on 31.07.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
The Company is exclusively in the Dyes and Intermediate business |
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Products : |
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GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
·
State Bank of India, Overseas Branch, 3rd
Floor, Navjivan Trust Building, Near. Navjeevan P.O. Ahmedabad – 380014,
Gujarat, India |
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Balkrishna T. Thakkar and Company Chartered Accountants |
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Address : |
602, |
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PAN.: |
AAGPT9505M |
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Enterprises which are
owned, or have significant influence of or are partners with Key management
personnel and their relatives |
· Meghmani Energy Limited · Meghmani Organics Limited · Tapasheel Enterprise · Meghmani Chemicals · Patel Trading and Investment Company · Unison Industries Limited · Fidelity Export Private Limited · Vanguard Overseas Limited · Meghmani Finechem Limited · Navratan Specialty Chemicals LLP · Meghmani Industries Limited · Matangi Industries |
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|
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Subsidiary Company
: |
· Meghmani Specialty chemicals Limited ·
Synergy Chlorination Private Limited |
CAPITAL STRUCTURE
As on 31.07.2013
Authorised Capital : Rs.220.000
Millions
Issued, Subscribed & Paid-up Capital : Rs.69.300 Million
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
25000000 |
Equity Shares |
Rs.10/- each |
Rs.250.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9900000 |
Equity Shares |
Rs.10/- each |
Rs.99.000
Millions |
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Disclosure of
shareholding more than five per cent in company
|
Name of shareholder |
Number of shares held in company |
Percentage of shareholding in company |
|
Natu M. Patel |
19,20,000 |
19.39% |
|
Amitaben K. Patel |
12,87,000 |
13.00% |
|
Raemshbhai M. Patel |
19,20,000 |
19.39% |
|
Shardaben P. Patel |
11,52,000 |
11.64% |
|
Ankitbhai N. Patel |
10,50,000 |
10.61% |
|
Lalitbhai K. Patel |
9,90,000 |
10.00% |
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 |
99.000 |
99.000 |
99.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1723.174 |
1700.653 |
1332.805 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1822.174 |
1799.653 |
1431.805 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
37.517 |
25.012 |
3.225 |
|
|
2] Unsecured Loans |
10.000 |
4.300 |
9.800 |
|
|
TOTAL BORROWING |
47.517 |
29.312 |
13.025 |
|
|
DEFERRED TAX LIABILITIES |
21.627 |
18.364 |
17.891 |
|
|
|
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|
|
|
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TOTAL |
1891.318 |
1847.329 |
1462.721 |
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APPLICATION OF FUNDS |
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|
|
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FIXED ASSETS [Net Block] |
287.217 |
277.370 |
289.027 |
|
|
Capital work-in-progress |
0.214 |
16.586 |
0.225 |
|
|
|
|
|
|
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INVESTMENT |
178.864 |
332.136 |
180.567 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
524.501
|
456.462 |
426.377 |
|
|
Sundry Debtors |
557.206
|
657.011 |
574.401 |
|
|
Cash & Bank Balances |
63.958
|
103.161 |
119.049 |
|
|
Other Current Assets |
108.238
|
111.367 |
0.000 |
|
|
Loans & Advances |
478.305
|
159.152 |
228.748 |
|
Total
Current Assets |
1732.208
|
1487.153 |
1348.575 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
268.526
|
199.714 |
148.263 |
|
|
Other Current Liabilities |
36.313
|
33.462 |
102.223 |
|
|
Provisions |
2.346
|
32.740 |
105.187 |
|
Total
Current Liabilities |
307.185
|
265.916 |
355.673 |
|
|
Net Current Assets |
1425.023
|
1221.237 |
992.902 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1891.318 |
1847.329 |
1462.721 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1727.830 |
1964.040 |
1982.177 |
|
|
|
Other Income |
28.927 |
21.176 |
16.978 |
|
|
|
TOTAL (A) |
1756.757 |
1985.216 |
1999.155 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
1109.518 |
|
|
|
|
|
Purchases of stock-in-trade |
108.911 |
33.581 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(16.785) |
(14.809) |
1529.738 |
|
|
|
Employee benefit expense |
47.148 |
48.302 |
|
|
|
|
Other expenses |
421.321 |
370.054 |
|
|
|
|
TOTAL (B) |
1670.113 |
1492.625 |
1529.738 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
86.644 |
492.591 |
469.417 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1.080 |
0.106 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
85.564 |
492.485 |
469.417 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
28.901 |
28.458 |
21.567 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
56.663 |
464.027 |
447.850 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
11.130 |
50.098 |
87.684 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
45.533 |
413.929 |
360.166 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1393.653 |
1071.217 |
781.513 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
3.500 |
|
70.462 |
|
|
|
Dividend |
23.012 |
17.316 |
|
|
|
|
|
0.000 |
24.750 |
|
|
|
|
Tax on Dividend |
0.000 |
4.015 |
|
|
|
BALANCE CARRIED
TO THE B/S |
1412.674 |
1393.653 |
1071.217 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
1021.474 |
1131.971 |
924.969 |
|
|
TOTAL EARNINGS |
1021.474 |
1131.971 |
924.969 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
721.110 |
539.013 |
455.308 |
|
|
|
Capital Goods |
1.054 |
0.000 |
2.838 |
|
|
TOTAL IMPORTS |
722.164 |
539.013 |
458.146 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
4.60 |
41.81 |
36.38 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
2.59
|
20.85 |
18.02 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.28
|
23.63 |
22.59 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.81
|
26.30 |
27.35 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03
|
0.26 |
0.31 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.03
|
0.02 |
0.01 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
5.64
|
5.59 |
3.79 |
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
OPERATIONS
Sales for the financial year ended 31st March, 2012 amounted to Rs.1727.830 Millions as compared to Rs.1964.040 Millions for the year ended 31st March, 2011. The Profit after tax amounted to Rs.45.533 Millions for the year ended 31st March, 2012 as compared to Rs.413.929 Millions for the previous year.
UNSECURED LOAN
Rs. In Millions
|
Particular |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
Short-Term Borrowings |
|
|
|
Loans and advances from related parties |
10.000 |
4.300 |
|
Total |
10.000 |
4.300 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U24110GJ1999PLC036306 |
|
Name of the
company |
MEGHMANI DYES AND
INTERMEDIATES LIMITED |
|
Address of the
registered office or of the principal place of business in |
Plot No. 97, Phase II, GIDC Estate Vatva, Ahmedabad – 382445, Gujarat,
India |
|
This form is for |
Modification of charge |
|
Charge identification
(ID) number of the charge to be modified |
90105762 |
|
Type of charge |
Immovable property |
|
Particular of
charge holder |
State Bank of India, Overseas Branch, 3rd Floor, Navjivan Trust Building, Near. Navjeevan P.O. Ahmedabad – 380014, Gujarat, India |
|
Nature of
instrument creating charge |
Extension of
Equitable Mortgage. |
|
Date of
instrument Creating the charge |
01.11.2012 |
|
Amount secured by
the charge |
Rs.335.300 Millions
|
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest At 3.25% above BR
for CC (hypothecation.) limit
and for EPC/PCFC, FBD/EBR limits as per SBIEGC Scheme. Terms of Repayment Repayable on demand. Margin Raw Material: 25% Stock in Process:
25% Finished Goods:
25% Receivables: 40% LC: 10% BG: 10% and EPC: 10% of FOB
value. Extent and Operation of the charge The charge shall
operate as security by way of 1st charge on pari passu basis with HDFC Bank
Limited, by way of extension of equitable mortgage of leasehold land of the
Company, bearing Plot No. 97, Phase II, Vatva Industrial Estate, Ahmedabad to
secure the total credit limits of Rs. 335.300 Millions granted by the State
Bank of India. Others As mentioned in
the attached agreement. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Extension of Eq. Mort. of leasehold land of the Co. bearing Plot No. 97, Phase II, Vatva Ind. Estate of R. S. No. 464/1 (paiki) and 464/2 (paiki) admeasuring 703 sq.mtrs. and structure standing thereon. |
|
Date of
instrument modifying the charge |
10.10.2012 |
|
Particulars of
the present modification |
By this
modification overall credit facilities granted by the State Bank of India
amounting to Rs. 335.300 Millions are secured by the extension of equitable
mortgage of the property |
FIXED ASSETS
- Land
- Residential Plot of Land
- Furniture
- Plant and machinery
- Electrical and Fittings
- Boiler
- Vehicles
- Office Equipments
- Computer
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.95 |
|
|
1 |
Rs.84.03 |
|
Euro |
1 |
Rs.70.72 |
INFORMATION DETAILS
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
53 |
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.