MIRA
INFORM REPORT
|
Report Date : |
18.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
EARTH EXPRESS FREIGHT PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
G-33, Navyug Nagar, Building No.2, Dinanath Mangeshkar Marg,
Mumbai-400036, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
17.12.2008 |
|
|
|
|
Com. Reg. No.: |
11-188969 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 0.100 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U63000MH2008PTC188969 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is providing logistic service provider in India and also
engaged with shipping and air freight related activities |
|
|
|
|
No. of Employees
: |
Information denied by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 25000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a satisfactory track record.
Trade relations are reported to be fair. Business is active. Payments are reported
to be usually correct and as per commitment. The company can be considered for normal 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.
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.
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
Management non co-operative
LOCATIONS
|
Registered Office : |
G-33, Navyug Nagar, Building No.2, Dinanath Mangeshkar Marg,
Mumbai-400036, Maharashtra, India |
|
Tel. No.: |
91-22-40860000 / 61149900 |
|
Fax No.: |
91-22-40028160 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 21.09.2012
|
Name : |
Mr. Mayur Surinder Wallia |
|
Designation : |
Director |
|
Address : |
134 B, Navyug Nagar, Forjett Hill Road, Mumbai-400036, Maharashtra,
India |
|
Date of Birth/Age : |
19.06.1976 |
|
Date of Appointment : |
17.12.2008 |
|
DIN No.: |
00847569 |
|
|
|
|
Name : |
Mr. Surinder S Wallia |
|
Designation : |
Director |
|
Address : |
134 B, Navyug Nagar, Forjett Hill Road, Mumbai-400036, Maharashtra,
India |
|
Date of Birth/Age : |
12.01.1947 |
|
Date of Appointment : |
17.12.2008 |
|
DIN No.: |
02241894 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 21.09.2012
|
Names of Shareholders |
No. of Shares |
|
Mayur Surinder Wallia |
8000 |
|
Puja M Wallia |
1000 |
|
Surinder S Wallia |
1000 |
|
TOTAL
|
10000 |
AS ON 21.09.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Directors or relatives of Directors |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is providing logistic service provider in India and also
engaged with shipping and air freight related activities |
GENERAL INFORMATION
|
No. of Employees : |
Information denied by the management |
|
|
|
|
Bankers : |
·
Vijaya Bank, 289, EMCA House, Shahed Bahgat Singh
Marg, Fort, Mumbai-400023, Maharashtra, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Rajiv V Karnik Chartered Accountant |
|
Address : |
20, Manas, Plot No.17, Bandra Reclamation, Bandra (West),
Mumbai-400050, Maharashtra, India |
|
PAN No.: |
AAJPK7915R |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.10/- each |
Rs. 0.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.10/- each |
Rs. 0.100
Million |
|
|
|
|
|
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 |
|
0.100 |
0.100 |
|
(b) Reserves & Surplus |
|
6.261 |
3.542 |
|
(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) |
|
6.361 |
3.642 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
5.384 |
6.215 |
|
(b) Deferred tax liabilities (Net) |
|
0.019 |
0.012 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
|
5.403 |
6.227 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
0.028 |
0.000 |
|
(b) Trade payables |
|
7.558 |
6.015 |
|
(c) Other current
liabilities |
|
2.441 |
1.663 |
|
(d) Short-term provisions |
|
2.845 |
1.596 |
|
Total Current Liabilities (4) |
|
12.872 |
9.274 |
|
|
|
|
|
|
TOTAL |
|
24.636 |
19.143 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
0.246 |
0.255 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.543 |
1.139 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.300 |
0.096 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
1.089 |
1.490 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
0.000 |
0.000 |
|
(c) Trade receivables |
|
13.132 |
11.723 |
|
(d) Cash and cash
equivalents |
|
6.171 |
2.685 |
|
(e) Short-term loans and
advances |
|
3.558 |
2.110 |
|
(f) Other current assets |
|
0.686 |
1.135 |
|
Total Current Assets |
|
23.547 |
17.653 |
|
|
|
|
|
|
TOTAL |
|
24.636 |
19.143 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
0.100 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.627 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
0.727 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
2.529 |
|
|
2] Unsecured Loans |
|
|
5.200 |
|
|
TOTAL BORROWING |
|
|
7.729 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.010 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
8.466 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
0.301 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000 |
|
|
Sundry Debtors |
|
|
8.643 |
|
|
Cash & Bank Balances |
|
|
3.174 |
|
|
Other Current Assets |
|
|
0.532 |
|
|
Loans & Advances |
|
|
0.152 |
|
Total
Current Assets |
|
|
12.501 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
3.270 |
|
|
Other Current Liabilities |
|
|
0.000 |
|
|
Provisions |
|
|
1.097 |
|
Total
Current Liabilities |
|
|
4.367 |
|
|
Net Current Assets |
|
|
8.134 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.031 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
8.466 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Freight and Other Charges |
|
|
55.395 |
|
|
|
Brokerage and Commission |
|
|
0.215 |
|
|
|
TOTAL |
153.004 |
148.043 |
55.610 |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
Freight and Other Charges |
|
|
51.039 |
|
|
|
Audit Fees |
|
|
0.015 |
|
|
|
Brokerage and Commission |
|
|
0.044 |
|
|
|
Business Promotion Expenses |
|
|
0.058 |
|
|
|
Conveyance Expenses |
|
|
0.023 |
|
|
|
Discount and Difference |
|
|
0.001 |
|
|
|
Directors Remuneration |
|
|
0.415 |
|
|
|
Electricity Charges |
|
|
0.082 |
|
|
|
Membership and Subcript |
|
|
0.024 |
|
|
|
Insurance Charges |
|
|
0.131 |
|
|
|
Interest on Loan |
|
|
0.293 |
|
|
|
Interest on Bank CC |
|
|
0.015 |
|
|
|
MTO Licence Fees |
|
|
0.015 |
|
|
|
Newspapers and Periadicals |
|
|
0.002 |
|
|
|
Office Expense |
|
|
0.046 |
|
|
|
Postage and Courier Charges |
|
|
0.022 |
|
|
|
Printing and Stationery |
|
|
0.024 |
|
|
|
Professional Fees |
|
|
0.010 |
|
|
|
Rent Paid |
|
|
0.290 |
|
|
|
Repairs and Maintenance |
|
|
0.095 |
|
|
|
Staff Welfare |
|
|
0.096 |
|
|
|
Salaries |
|
|
1.694 |
|
|
|
Telephone and Communication |
|
|
0.146 |
|
|
|
Travelling Expenses |
|
|
0.016 |
|
|
|
Misc Expenses |
|
|
0.005 |
|
|
|
Preliminary Expenses W/Off |
|
|
0.007 |
|
|
|
TOTAL |
149.029 |
143.779 |
54.608 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
[Including Financial |
[Including Financial |
1.002 |
|
|
|
|
Expenses and |
Expenses and |
|
|
|
|
FINANCIAL
EXPENSES |
Depreciation] |
Depreciation] |
0.055 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
|
0.947 |
|
|
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
|
|
0.040 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
3.975 |
4.242 |
0.907 |
|
|
|
|
|
|
|
|
|
|
TAX |
1.257 |
1.327 |
0.280 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
2.718 |
2.915 |
0.627 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2.915 |
0.627 |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
6.260 |
3.542 |
0.627 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
271.80 |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.78
|
1.97 |
1.13 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA |
1.64 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
16.50
|
23.56 |
7.08 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.62
|
1.16 |
1.25 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.85
|
1.71 |
10.63 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.83
|
1.90 |
2.86 |
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 |
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 |
No |
FACILITIES
|
Unsecured Loan |
Rs.
In Millions 31.03.2012 |
Rs.
In Millions 31.03.2011 |
|
LONG TERM
BORROWINGS |
|
|
|
Loans from Relatives of Directors |
4.884 |
4.615 |
|
Loans from Others |
0.500 |
1.600 |
|
SHORT TERM
BORROWINGS |
|
|
|
Loans and Advances from Related Parties |
0.028 |
0.000 |
|
|
|
|
|
TOTAL |
5.412 |
6.215 |
|
NOTES LONG TERM
BORROWINGS Repayment of
Unsecured loan borrowings from relatives of directors The company has unsecured loans taken from relatives of director carries
interest rate of 12% PA being repayable on long term Repayment of
unsecured loan borrowings from others The company has unsecured loans taken from others carries interest
rate of 12% PA being repayable on long term SHORT TERM
BORROWINGS Repayment of
Unsecured loan borrowings from related parties It pertains to interest free unsecured loans taken from M/s. Earth
Express Cargo Private Limited |
||
CURRENT MATURITIES
OF LONG TERM DEBT
(Rs.
In Millions)
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Current Maturities Of Long Term Debt |
NA |
NA |
NA |
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
VIEW INDEX OF
CHARGES
|
S. No |
Charge ID |
Date of Charge Creation /Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN |
|
1 |
10264266 |
04/01/2013 * |
6,000,000.00 |
VIJAYA BANK |
FORT BRANCH, 289, EMCA HOUSE,
SBS ROAD, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B67002568 |
|
* Date of charge modification |
||||||
FINANCIAL PERFORMANCE
During the year, the company has earned a net
profit of Rs. 2.718 Millions during the financial year.
FIXED ASSETS
·
Air Conditioner
·
Computer and Printer
·
Electrical Equipments
·
Furniture and Fixtures
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. 63.37 |
|
UK Pound |
1 |
Rs. 100.85 |
|
Euro |
1 |
Rs. 84.59 |
INFORMATION DETAILS
|
Information Gathered
by : |
NYA |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--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 |
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 |
|
45 |
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.