|
Report Date : |
07.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
PUSHPAM FOODS AND BEVERAGES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
635/1-B, New Gajara Society, Bibwewadi, Pune – 411037, |
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Country : |
India |
|
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|
|
Financials (as
on) : |
31.03.2012 |
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|
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|
Date of
Incorporation : |
20.11.2006 |
|
|
|
|
Com. Reg. No.: |
25-129238 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 19.950 Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U15139PN2006PTC129238 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
PNEP12440B |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAECP5030A |
|
Legal Form : |
Private Limited Liability Company |
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|
|
Line of Business
: |
Manufacturer of Health Products. |
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|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 66000 |
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|
|
|
Status : |
Moderate |
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|
|
Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a moderate track record. There appear some accumulated losses recorded by the company. There
also appear huge external borrowings which act as a threat to the company’s
liquidity. However, trade relations are reported as fair. Business is active.
Payments terms are slow. The company can be considered for business dealings with great
caution. |
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 |
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 : |
635/1-B, New Gajara Society, Bibwewadi, Pune – 411037, |
|
Tel. No.: |
91-20-30915961/30915962 |
|
Fax No.: |
91-20-24226455 |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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|
|
|
Factory : |
Gat No.104/2A, Village, Berate Vasti (Nandur). Taluka – Daund,
District – |
DIRECTORS
As on 22.08.2012
|
Name : |
Mr. Chetan Ashok Chopda |
|
Designation : |
Director |
|
Address : |
635/1-B, New Gajara Society, Bibwewadi, Pune – 411037, |
|
Date of Birth/Age : |
03.10.1974 |
|
Date of Appointment : |
20.11.2006 |
|
DIN No.: |
01650010 |
|
|
|
|
Name : |
Mr. Shreekant Chpda |
|
Designation : |
Director |
|
Address : |
635/1-B, New Gajara Society, Bibwewadi, Pune – 411037, |
|
Date of Birth/Age : |
11.01.1970 |
|
Date of Appointment : |
20.11.2006 |
|
DIN No.: |
01821347 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 22.08.2012
|
Names of Shareholders |
|
No. of Shares |
|
Pushpalata Chopda |
|
100000 |
|
Rajendra Chopda |
|
340000 |
|
Priya Chopda |
|
100000 |
|
Sangeeta Chopda |
|
100000 |
|
Arti Chopda |
|
100000 |
|
Shreekant Chpda |
|
397000 |
|
Chetan Ashok Chopda |
|
398000 |
|
Rakhi Chopda |
|
100000 |
|
Sachin Ashok Chopda |
|
360000 |
|
|
|
|
|
Total |
|
1995000 |
As on 31.01.2013
|
Names of Shareholders |
|
No. of Shares |
|
Arti Sachin Chopda |
|
22000 |
|
Pushpalata Ashok Chopda |
|
313000 |
|
Chetan Ashok Chopda |
|
2547000 |
|
Priya Chopda |
|
19000 |
|
Rajendra Ashok Chopda |
|
16000 |
|
Sachin Ashok Chopda |
|
62000 |
|
Sangeeta Chopda |
|
18000 |
|
Shreekant Chpda |
|
3000 |
|
|
|
|
|
Total |
|
3000000 |
Equity Share Break up (Percentage of Total Equity)
As on 22.08.2012
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Health Products. |
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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 : |
·
Union Bank of India, SSI Branch, F C Road, Pune –
411005, Maharashtra, India ·
The Karad Urban Co Op. Bank Limited, E-1/E-2,
Royal Archade, NH – 4, Dhankavdi, Pune – 411043, Maharashtra, India |
||||||||||||
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Facilities : |
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|
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
Vakharia Shah and Associates Chartered Accountants |
|
Address : |
7/2, Shiv Darshan Chambers, Opp Shivaji Statue, 457/458 Marketyard
Road, Pune – 411037, Maharashtra, India |
|
PAN No.: |
AAHFV1142M |
|
|
|
|
Related Party : |
·
Pushpam Gas Agency ·
Dilip Enterprises ·
Pushpam Health Care Products ·
Greenways Healthcare Private Limited ·
Greenways Healthcare and Beverages Distribution
Private Limited ·
Pushpam Computer and Software Private Limited ·
Brandwagon Marketing Private Limited ·
RMP Brandwagon Marketing Private Limited |
CAPITAL STRUCTURE
As on 22.08.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs. 30.000 Millions |
|
|
|
|
|
|
|
Total |
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4995000 |
Equity Shares |
Rs.10/- each |
Rs. 49.950 Millions |
|
|
|
|
|
|
|
Total |
|
|
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs. 30.000 Millions |
|
|
|
|
|
|
|
Total |
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1995000 |
Equity Shares |
Rs.10/- each |
Rs. 19.950 Millions |
|
|
|
|
|
|
|
Total |
|
|
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 |
19.950 |
19.950 |
9.950 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
3.537 |
|
|
4] (Accumulated Losses) |
(3.386) |
(4.367) |
0.000 |
|
|
NETWORTH |
16.564 |
15.583 |
13.487 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
125.041 |
95.359 |
107.669 |
|
|
2] Unsecured Loans |
69.945 |
55.920 |
37.200 |
|
|
TOTAL BORROWING |
194.986 |
151.279 |
144.869 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.815 |
|
|
|
|
|
|
|
|
TOTAL |
211.550 |
166.862 |
159.171 |
|
|
|
|
|
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|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
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|
FIXED ASSETS [Net Block] |
166.610 |
127.279 |
138.276 |
|
|
Capital work-in-progress |
12.262 |
3.116 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
1.588 |
9.498 |
4.579 |
|
|
DEFERRED TAX ASSETS |
0.621 |
0.018 |
0.000 |
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
27.381
|
46.546 |
30.544 |
|
|
Sundry Debtors |
36.962
|
2.190 |
0.626 |
|
|
Cash & Bank Balances |
0.200
|
1.989 |
0.171 |
|
|
Other Current Assets |
0.042
|
0.084 |
0.000 |
|
|
Loans & Advances |
10.878
|
12.413 |
11.247 |
|
Total
Current Assets |
75.463
|
63.222 |
42.588 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
8.577
|
3.244 |
8.681 |
|
|
Other Current Liabilities |
34.610
|
32.107 |
17.717 |
|
|
Provisions |
1.807
|
0.920 |
0.00 |
|
Total
Current Liabilities |
44.994
|
36.271 |
26.398 |
|
|
Net Current Assets |
30.469
|
26.951 |
16.190 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.126 |
|
|
|
|
|
|
|
|
TOTAL |
211.550 |
166.862 |
159.171 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
103.725 |
88.195 |
69.909 |
|
|
|
Other Income |
14.647 |
16.686 |
2.299 |
|
|
|
TOTAL (A) |
118.372 |
104.881 |
72.208 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Increase /(Decrease) in Stock |
19.166 |
(16.002) |
(20.260) |
|
|
|
Expenditure (Other than Depreciation) |
78.651 |
110.572 |
69.422 |
|
|
|
TOTAL (B) |
97.817 |
94.570 |
49.162 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
20.555 |
10.311 |
23.046 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
20.177 |
19.048 |
17.421 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) BEFORE TAX (E-F) (G) |
0.378 |
(8.737) |
5.625 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(0.603) |
0.834 |
1.397 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) AFTER TAX (G-H) (I) |
0.981 |
(7.903) |
4.228 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
8.585 |
2.832 |
NA |
|
|
|
|
|
|
|
|
|
|
CIF VALUE OF
MPORTS |
9.036 |
28.226 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.49 |
(3.96) |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.83
|
7.54 |
5.84 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.36
|
0.10 |
8.05 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.50
|
13.82 |
13.21 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02
|
0.56 |
0.42 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
11.77
|
9.71 |
10.74 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.68
|
1.74 |
1.61 |
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 |
OPERATIONS:
As committed in the
previous year, the Company had installed new PET line with a view to enhance the
production capacity and explore the export market for Beverages from India and
increase number of domestic customers. This new line of activity commenced from
November 2011 and during this period the overall production activity was less
as the installation was in progress.
Inspite of this, the income
from operation of the Company for the financial year Increased from Rs. 88.194
Millions to Rs. 103.725 Millions showing Increase of 17.61% over previous year.
The Board of Directors is pleased to inform that, the Company has booked net
profit after tax of Rs.0.981 Millions as against loss of Rs. 7.903, Millions of
previous year. In view of future business strategy Directors have decided to
plough back the profits for the year.
|
Unsecured Loan |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
in Millions) |
|
Loans and Advances From Related Parties |
14.445 |
0.620 |
|
Loans From Director |
25.500 |
25.300 |
|
Other loans and advances |
30.000 |
30.000 |
|
Total |
69.945 |
55.920 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U15139PN2006PTC129238 |
|
Name of the
company |
PUSHPAM FOODS AND
BEVERAGES PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
635/1-B, New Gajara Society, Bibwewadi, Pune – 411037, |
|
This form is for |
Creation
of Charge |
|
Type of charge |
·
Immovable
Property ·
Book
debts ·
Movable
property |
|
CIN |
U15139PN2006PTC129238 |
|
Particular of
charge holder |
The Karad Urban Co Op. Bank Limited, E-1/E-2, Royal Archade, NH – 4,
Dhankavdi, Pune – 411043, Maharashtra, India |
|
Nature of
instrument creating charge |
1. Mortgage Deed 2. Memorandum of
Agreement of Hypothecation of Tangible Movable Security |
|
Date of
instrument Creating the charge |
22.08.2012 |
|
Amount secured by
the charge |
Rs.119.500
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest Term Loan for
Machinery - 14.75% pa Hypothecation
Cash Credit - 15.25% pa Incase of non
payment - 2% pa on amount unpaid Terms of
Repayment 1. Term Loan for
Machinery - 84 monthly installments of Rs. 1154762 + interest 2. Hypothecation
Cash Credit - 36 months Margin 1. Term Loan for
Machinery - 25% 2. Hypothecation
Cash Credit - 30% Extent and
Operation of the charge To the extent of
amount borrowed. Others 2ONE |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
2 hectors Land,
build and factory situated at Gat No - 104/2A, Borate Vasti (Nandur),
Daund,district Pune 45 Machineries, 6
Utilities, 14 Laboratories Equipments, 1 Transformer, 1 U.P.S.E. 1 hectors 19 R.
Land situated at Dahitane, Daund Taluka,
Gat No. 315, 317, 319 2 hectors 46.5 R.
Land situated at Dahitane, Daund Taluka, Gat No. 313, 314, 315, 316, 317,
318. Flat No. 5 (area
522 sq. ft. ) and Flat No. 1 (area 639 sq. ft.) situated at First floor S.
No. 635/1A/1,2,3 C.T.S. No. 691 Gajra Co. op. Soc. Hall (area 522
sq. ft. ) and slab space ( area 1700 sq. ft.) and Flat No. 1 (area 639 sq.
ft.) situated at First floor S. No. 635/1A/1,2,3 C.T.S. No. 691 Gajra Co. op.
Soc. |
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.53.94 |
|
|
1 |
Rs.84.03 |
|
Euro |
1 |
Rs.70.72 |
INFORMATION DETAILS
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
-- |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
27 |
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.