MIRA
INFORM REPORT
|
Report Date : |
06.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
NEOPLAST ENGINEERING PRIVATE LIMITED |
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Registered Office : |
Plot No.43, Phase-I, GIDC, Vatva, Ahmedabad - 382445, |
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Country : |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
10.09.1973 |
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Com. Reg. No.: |
04-002377 |
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Capital
Investment / Paid-up Capital : |
Rs.0.500 Million |
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CIN No.: [Company
Identification No.] |
U29259GJ1973PTC002377 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
AHMN01089E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturing of Plastic Processing Machinery and Equipments. |
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No. of Employees
: |
80 (Approximately) |
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 |
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Maximum Credit Limit : |
USD 370000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. Rating reflects above average financial risk profile marked by decent
liquidity position. Trade relations are reported to be fair. Business is active. Payments
are reported to be usually correct. 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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
NEWS
As per the latest IMF study, the total weigh of emerging markets in the
GDP of the world on a purchasing power parity basis has seen a sizeable shift. It
highlights how as against 51 % in 2005, the emerging economies now account for
close to 56 % of the global purchasing power GDP as per the latest survey. And
with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the their share goes up further
in the coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The
prospects of the India’s economy have been seriously compromised due to
political corruption. High inflation, poor standard of living are to a great
extent a result of rampant corruption in the country. China on the other hand,
seems to be facing diametrically opposite challenge. American hedge fund
manager Jim Chanos has been keenly following the
political and economic development in the dragon economy and has figured out
something that is quite worrying. He is of the view that the Chinese economy
could be heading toward trouble on account of new Chinese President Xi Jingping’s very aggressive anti-corruption drive. Chanos believes tat many things such as apartment sales,
luxury products, etc. were largely bought with dirty money. And it is now
beginning to impact consumption. This may indeed be bad news for an economy
that is struggling to transition from an investment-driven export-oriented
economy to a domestic consumption-driven economy.
A study published by First post has revealed that asset classes like
real estate and equities were the biggest beneficiaries of the liberalization
policies. A firm called Ciane Analytics studied
returns from assets including equities, gold, fixed deposits, G-Secs and real estate since 1991. Real estate outperformed
every other asset classes during the 23-year period with an annualized return
of 20 % ! Equities came in second with annualized return of 15.5 % ! However,
while these returns may seem mouthwatering, the fact is that the return from
equities adjusted for inflation came down to just 7.1 %.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
. India seeks MFN status from Pakistan ahead of meeting
. Ukrain’s clashes with rebels hinder MH17
crash investigation
. India exploring merger of state-owned hydro PSUs
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs 10000 mn.
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
31-03-2014.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Amit Parikh |
|
Designation : |
Accounts Manager |
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Contact No.: |
91-79-40304187 |
|
Date : |
02.08.2014 |
LOCATIONS
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Registered Office/Factory : |
43, GIDC, Industrial Estate, Phase 1, Vatva,
Ahmedabad - 382445, Gujarat, India |
|
Tel. No.: |
91 -79 - 25830602 / 25831185 /
25891078 / 40304187 |
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Mobile No.: |
91-9825007220 (Mr. Ankit Shah) |
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Fax No.: |
91 -79 -25835298 |
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E-Mail : |
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Website : |
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Area : |
10000sq.fts |
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Location : |
Owned |
DIRECTORS
AS ON 23.09.2013
|
Name : |
Mr. Vinodchandra Navnitlal
Parikh |
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Designation : |
Director |
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Address : |
7, Aakash Sagar
Apartments, Srinathji Society Panchwati
2nd Lane, Ambawadi Circle, Ambawadi, Ahmedabad – 380015,
Gujarat, India |
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Date of Birth/Age : |
15.11.1929 |
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Date of Appointment : |
29.06.1981 |
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DIN No.: |
01547981 |
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Name : |
Mr. Shailesh Chandulal
Parikh |
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Designation : |
Whole-time director |
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Address : |
29, Pathik Gali, Maninagar Char Rasta, Maningar,
Ahmedabad – 380008, Gujarat, India |
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Date of Birth/Age : |
13.11.1945 |
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Date of Appointment : |
19.04.2008 |
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DIN No.: |
01156471 |
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Other
Directorship :
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Name : |
Mr. Ashokkumar Jayantilal
Shah |
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Designation : |
Director |
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Address : |
B – 22, Vasupujya Banglow,
Satelite Road, Ramdevnagar,
Ahmedabad – 380054, Gujarat, India |
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Date of Birth/Age : |
29.10.1974 |
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Date of Appointment : |
18.07.1988 |
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DIN No.: |
00560030 |
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Other
Directorship :
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Name : |
Mr. Dhruv Jayantilal
Shah |
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Designation : |
Whole-TIME DIRECTOR |
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Address : |
56, Basant Bahar, Bopal, Ahmedabad – 380058, Gujarat, India |
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Date of Birth/Age : |
11.02.1953 |
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Date of Appointment : |
19.04.2008 |
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DIN No.: |
01547700 |
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Other
Directorship :
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Name : |
Mr. Tushar Vinodchandra
Parikh |
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Designation : |
Whole-Time Director |
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Address : |
7, Aakash Sagar Apartments, Panchwati 2nd
Lane, Opposite Srinathji Society, Ambawadi Circle, Ambawadi, Ahmedabad – 380006, Gujarat, India tusharparikh@neoplast.com |
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Date of Birth/Age : |
05.04.1958 |
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Date of Appointment : |
19.04.2008 |
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DIN No.: |
00391620 |
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Other
Directorship :
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KEY EXECUTIVES
|
Name : |
Mr. Amit Parikh |
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Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 23.09.2013
Note : Shareholders Files are attached.
AS ON 23.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing of Plastic Processing Machinery and Equipments. |
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Products : |
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Exports : |
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Products : |
Plastic Processing Machinery and
Equipments |
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Countries : |
·
Asian Country ·
Aruban Country |
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Imports : |
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Products : |
Raw Material |
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Countries : |
Germany |
GENERAL INFORMATION
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No. of Employees : |
80 (Approximately) |
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Bankers : |
·
Union Bank of India, Ellisbridge
Branch, Ashram Road, Ahmedabad, Gujarat, India ·
HDFC Bank Limited, HDFC Bank House Senapati Bapat Marg, Lower Parel (West),
Mumbai – 400013, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Shah Bharat and Associates Chartered Accountants |
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Address : |
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PAN No.: |
ADAPS7240M |
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Entities in which KMP/ Relatives of KMP have significant Influences : |
·
Almac Corporation ·
Neo Nylon and Plastic Industries ·
Neoplast Exports ·
Parisha Sons |
CAPITAL STRUCTURE
AS ON 23.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000 |
Equity Shares |
Rs.100/- each |
Rs.0.500 Million |
|
5000 |
Preference Shares |
Rs.100/- each |
Rs.0.500 Million |
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|
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Total |
|
Rs.1.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000 |
Equity Shares |
Rs.100/- each |
Rs.0.500 Million |
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|
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|
FINANCIAL DATA
[All figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
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I.
EQUITY AND LIABILITIES |
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|
|
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(1)Shareholders' Funds |
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|
|
|
(a) Share Capital |
0.500 |
0.500 |
0.500 |
|
(b) Reserves & Surplus |
90.026 |
77.404 |
64.820 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
90.526 |
77.904 |
65.320 |
|
|
|
|
|
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(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
2.917 |
4.429 |
5.739 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
2.482 |
6.888 |
5.877 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
5.399 |
11.317 |
11.616 |
|
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
55.867 |
49.143 |
62.392 |
|
(b) Trade payables |
52.748 |
45.696 |
57.938 |
|
(c) Other current liabilities |
29.037 |
22.530 |
22.367 |
|
(d) Short-term provisions |
11.615 |
2.050 |
2.341 |
|
Total
Current Liabilities (4) |
149.267 |
119.419 |
145.038 |
|
|
|
|
|
|
TOTAL |
245.192 |
208.640 |
221.974 |
|
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|
|
|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
27.780 |
24.708 |
21.372 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
0.000 |
0.248 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
15.638 |
12.971 |
11.604 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
43.418 |
37.927 |
32.976 |
|
|
|
|
|
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(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
83.050 |
36.396 |
69.676 |
|
(c) Trade receivables |
17.188 |
46.646 |
18.679 |
|
(d) Cash and cash equivalents |
75.975 |
75.850 |
84.309 |
|
(e) Short-term loans and
advances |
19.442 |
7.406 |
8.291 |
|
(f) Other current assets |
6.119 |
4.415 |
8.043 |
|
Total
Current Assets |
201.774 |
170.713 |
188.998 |
|
|
|
|
|
|
TOTAL |
245.192 |
208.640 |
221.974 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
|
219.386 |
|
|
|
|
Other Income |
|
|
|
|
|
TOTAL
|
219.386 |
285.181 |
193.823 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
TOTAL
|
188.619 |
254.284 |
168.525 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
30.767 |
30.897 |
25.298 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
3.615 |
3.185 |
2.739 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
27.152 |
27.712 |
22.559 |
|
|
|
|
|
|
|
Less |
TAX |
8.700 |
8.715 |
6.560 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
18.452 |
18.997 |
15.999 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
27.404 |
24.820 |
24.651 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General Reserve |
10.000 |
10.000 |
10.000 |
|
|
Dividend |
2.500 |
3.750 |
3.000 |
|
|
Final Dividend |
2.500 |
1.750 |
2.000 |
|
|
Tax on Dividend |
0.830 |
0.913 |
0.830 |
|
|
Total |
15.830 |
16.413 |
15.830 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
30.026 |
27.404 |
24.820 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
1.873 |
7.679 |
9.141 |
|
|
TOTAL
EARNINGS |
1.873 |
7.679 |
9.141 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Components and Stores parts |
1.182 |
0.611 |
1.421 |
|
|
TOTAL
IMPORTS |
1.182 |
0.611 |
1.421 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
3690.40 |
3799.40 |
NA |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
8.41 |
6.66 |
8.25 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
12.38 |
9.72 |
11.64 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.83 |
14.18 |
10.72 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.30 |
0.35 |
0.34 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.65 |
0.69 |
1.04 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.35 |
1.43 |
1.30 |
FINANCIAL ANALYSIS
[All figures are in
Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
0.500 |
0.500 |
0.500 |
|
Reserves & Surplus |
64.820 |
77.404 |
90.026 |
|
Net
worth |
65.320 |
77.904 |
90.526 |
|
|
|
|
|
|
long-term borrowings |
5.739 |
4.429 |
2.917 |
|
Short term borrowings |
62.392 |
49.143 |
55.867 |
|
Total
borrowings |
68.131 |
53.572 |
58.784 |
|
Debt/Equity
ratio |
1.043 |
0.688 |
0.649 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Total Income |
193.823 |
285.181 |
219.386 |
|
|
|
47.135 |
(23.071) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Total Income |
193.823 |
285.181 |
219.386 |
|
Profit/(Loss) After Tax |
15.999 |
18.997 |
18.452 |
|
|
8.25% |
6.66% |
8.41% |
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 |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
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 |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
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
The overall performance of the current year was satisfactory due to
efficient management. However, there is a rapid change in Indian economy and business environment, Competition
has increased. The Industrial and manufacturing sector had a difficult time. During the year, the company has
achieved sales and service charges income of Rs. 219.386 Millions as against previous year Rs.285.181 Millions. Sales and service charges
as compared to previous year decreased
by Rs. 65.795 Millions. The profit after tax for the year is Rs. 18.452 Millions as compared
with previous year Rs. 18.997 Millions. It has decreased by Rs. 0.545 Millions.
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs. in Millions) |
31.03.2012 (Rs. in Millions) |
|
SHORT TERM
BORROWINGS |
|
|
|
Loans and Advances from related parties |
45.740 |
26.712 |
|
Loans repayable on demand |
10.127 |
22.431 |
|
Total |
55.867 |
49.143 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10233493 |
03/07/2010 |
7,500,000.00 |
HDFC BANK
LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL W |
A91804591 |
FIXED ASSETS:
- Land and Building
- Land (Miraj Polymers)
- Machinery Equipments and Patterns
- Factory Equipment
- Office Machinery and Equipment
- Cabin
- Office Furniture and Dead Stock
- Computer
- Motor Vehicle
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 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.60.87 |
|
|
1 |
Rs.102.67 |
|
Euro |
1 |
Rs.81.70 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--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 |
YES |
|
--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.