MIRA
INFORM REPORT
|
Report Date : |
15.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
HI-SHINE INKS
PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
UTILITY INKS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
208, GIDC
Estate, Antalika, Village Bilimora, District Navsari - 396325, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
08.01.1990 |
|
|
|
|
Com. Reg. No.: |
04-013217 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 1.500 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24299GJ1990PTC013217 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing and Trading of Writing Inks and Printing
Inks. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (55) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 522000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
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|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is a well-established company having fine track record. Sales and profit margins of the company appear to be decent. Overall
fundamentals of the company appear to be sound and healthy. Trade relations are fair. Business is active. Payments are regular and
as per commitments. The company can be considered 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 |
INDIAN ECONOMIC OVERVIEW
We are living in a world
where volatility and uncertainty have become the New Normal. We saw a
change of government in countries like Tunisia, Egypt, Libya and Vietnam. Once
powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve
their business models with the changing time. Readers’ Digest, Thomson Register
are no more !
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years
to double its economic output per person during its industrial revolution and the
US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years
respectively. By 2020, emerging Asia will become the world’s largest consuming
block, overtaking North America.
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial
years of the contagion but finally lost ground last year. GDP growth slowed
down. Currency has been weakening. There is a marked deceleration in
agriculture, industry and services. Dampening sentiment led to a cut-back in
investment as well as private consumption expenditure. Inflation remained
at high levels fuelled by the pressure from the food and fuel sectors. The
large fiscal and current account deficit s continued to cause grave concern. It
is imperative that India regains its growth trajectory of 8-9 % sooner than
later. This is crucially important given the need to create gainful livelihood
opportunities for the millions living in poverty as also the large contingent
of young people joining the job market every year.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
SE1A |
|
Rating Explanation |
High performance capability and high
financial strength. |
|
Date |
25.10.2012 |
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.
INFORMATION DECLINED BY
|
Name : |
Mr. Vijaybhai |
|
Designation : |
Accountant |
|
Contact No.: |
91-2634-289760 |
|
Date : |
09.10.2013 |
LOCATIONS
|
Registered/ Administrative Office : |
208, GIDC
Estate, Antalika, Village Bilimora, District Navsari - 396325, Gujarat, India
|
|
Tel. No.: |
91-2634-289760/ 61/ 62 |
|
Fax No.: |
91-2634-289764 |
|
E-Mail : |
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|
Website : |
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|
|
|
|
Factory : |
C-1/204, G.I.D.C. Estate, Bilimora - 396325, Gujarat, India |
|
|
|
|
Sales Office 1 : |
302, Ganjawala Residency, Behind Petrol Pump, Ganjawala
Lane, Boivali (West) Mumbai – 400092, Maharashtra, India |
|
Tel. No.: |
91-22-28909600/ 28909700 |
|
Fax No.: |
91-22-28909400 |
|
|
|
|
Sales Office 2 : |
Pace Distribution and Marketing Private
Limited, 63, Radha Bazar Street, 2nd Floor, Kolkata – 700001, West Bengal,
India |
|
Tel. No.: |
91-33-22421052 |
|
Fax No.: |
91-33-22429734 |
|
E-Mail : |
|
|
|
|
|
Overseas Sales
Offices : |
Located at: ·
USA China |
DIRECTORS
AS ON 28.09.2012
|
Name : |
Mr. Nitin Chunilal Mehta |
||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||
|
Address : |
29 Vraj Lanka Lodge, Near Honest Trading, Bilimore, Navsari, Gujarat,
India |
||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
10.11.1950 |
||||||||||||||||||||||||||||||||
|
Date of Appointment : |
08.01.1990 |
||||||||||||||||||||||||||||||||
|
DIN No.: |
00387793 |
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|
Other Directorship :
|
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|
||||||||||||||||||||||||||||||||
|
Name : |
Mr. Gauravkumar S. Panchal |
||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||
|
Address : |
Pragati Bungalow, Opposite LMP Mahadev Nagar, Bilimore, Navsari,
Gujarat, India |
||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
14.06.1982 |
||||||||||||||||||||||||||||||||
|
Date of Appointment : |
23.04.2012 |
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|
DIN No.: |
05257386 |
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KEY EXECUTIVES
|
Name : |
Mr. Vijaybhai |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Nitin Chunilal Mehta |
|
134000 |
|
Buth Finvest Private Limited |
|
16000 |
|
|
|
|
|
Total |
|
150000 |
AS ON 28.09.2012
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Bodies
corporate |
10.67 |
|
Directors
or relatives of directors |
89.33 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Trading of Writing Inks and Printing
Inks. |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
|
|
|
|
Bankers : |
HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg,
Lower Parel [West], Mumbai - 400013, Maharashtra, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S.M. Desai and Company Chartered Accountants |
|
Address : |
18, Sharnam Apartment, 1st Floor, Opposite I.T.I, Antalia, Bilimora –
396325, Gujarat, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAXPD0852A |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150,000 |
Equity Shares |
Rs. 10/- each |
Rs. 1.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150,000 |
Equity Shares |
Rs. 10/- each |
Rs. 1.500 Millions |
|
|
|
|
|
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 |
|
1.500 |
1.500 |
|
(b) Reserves & Surplus |
|
128.958 |
96.161 |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
130.458 |
97.661 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
3.586 |
13.570 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long
term liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
3.586 |
13.570 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
0.000 |
0.000 |
|
(b)
Trade payables |
|
54.071 |
59.519 |
|
(c) Other
current liabilities |
|
0.000 |
0.000 |
|
(d) Short-term
provisions |
|
40.273 |
27.371 |
|
Total Current
Liabilities (4) |
|
94.344 |
86.890 |
|
|
|
|
|
|
TOTAL |
|
228.388 |
198.121 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
35.034 |
31.156 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
1.412 |
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 |
|
0.000 |
0.000 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
36.446 |
31.156 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
24.746 |
32.332 |
|
(c)
Trade receivables |
|
104.433 |
92.102 |
|
(d) Cash
and cash equivalents |
|
28.739 |
15.120 |
|
(e)
Short-term loans and advances |
|
34.024 |
27.411 |
|
(f)
Other current assets |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
191.942 |
166.965 |
|
|
|
|
|
|
TOTAL |
|
228.388 |
198.121 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
1.500 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
69.825 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
71.325 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
19.555 |
|
|
TOTAL BORROWING |
|
|
19.555 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
90.880 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
22.381 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
31.131 |
|
|
Sundry Debtors |
|
|
87.393 |
|
|
Cash & Bank Balances |
|
|
3.329 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
21.432 |
|
Total
Current Assets |
|
|
143.285 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
52.791 |
|
|
Other Current Liabilities |
|
|
0.000 |
|
|
Provisions |
|
|
21.995 |
|
Total
Current Liabilities |
|
|
74.786 |
|
|
Net Current Assets |
|
|
68.499 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
90.880 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operation |
540.654 |
480.104 |
368.689 |
|
|
|
Other Income |
2.439 |
3.892 |
3.477 |
|
|
|
TOTAL (A) |
543.093 |
483.996 |
372.166 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of material consumed |
450.910 |
|
|
|
|
|
Changes in inventories |
(8.481) |
1.360 |
|
|
|
|
Employee benefit Expenses |
6.757 |
5.512 |
|
|
|
|
Other Expenses |
27.982 |
25.158 |
|
|
|
|
TOTAL (B) |
477.168 |
437.308 |
338.114 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
65.925 |
46.688 |
34.052 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.440 |
1.784 |
2.053 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
65.485 |
44.904 |
31.999 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
5.520 |
2.578 |
0.927 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
59.965 |
42.326 |
31.072 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
20.194 |
12.503 |
10.500 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
39.771 |
29.823 |
20.572 |
|
|
|
|
|
|
|
|
|
|
ADJUST IN
RESPECT OF PREVIOUS YEAR SHORT PROVISION TAX |
NA
|
0.002 |
0.077 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
16.161 |
9.826 |
9.667 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
|
NA |
20.000 |
17.000 |
|
|
|
Proposed Dividend |
|
3.000 |
3.000 |
|
|
|
Tax on Dividend |
|
0.485 |
0.465 |
|
|
|
Short provision for Income Tax |
|
0.005 |
0.025 |
|
|
BALANCE CARRIED
TO THE B/S |
NA
|
16.161 |
9.826 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
171.016 |
110.894 |
NA |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
265.14 |
19.88 |
137.15 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
7.32
|
6.16 |
5.53 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
11.09
|
8.82 |
8.43 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
26.42
|
21.36 |
18.76 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.46
|
0.43 |
0.44 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.03
|
0.14 |
0.27 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.03
|
1.92 |
1.92 |
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 |
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 |
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 |
Yes |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10299242 |
20/06/2011 |
44,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE, SENAPATI BAPAT MARG, LOWER PAREL [WEST], MUMBAI - 400013, MAHARASHTRA, INDIA |
B17692443 |
|
2 |
10299376 |
20/06/2011 |
44,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE, SENAPATI BAPAT MARG, LOWER PAREL [WEST], MUMBAI - 400013, MAHARASHTRA, INDIA |
B17755901 |
UNSECURED LOANS
|
UNSECURED LOANS |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
|
LONG-TERM BORROWINGS |
|
|
|
Loans and advances from related parties |
|
|
|
Loans directors |
3.586 |
13.570 |
|
|
|
|
|
Total |
3.586 |
13.570 |
FIXED ASSETS:
· Land
Building
Electrical
Installation
Plant
and Machinery
Furniture
and Fixture
Vehicles
Computer
Lab/
Testing Equipments
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,
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. 61.30 |
|
|
1 |
Rs. 97.99 |
|
Euro |
1 |
Rs. 83.15 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
BVA |
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 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
55 |
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.