MIRA INFORM REPORT

 

 

Report Date :

01.12.2014

 

IDENTIFICATION DETAILS

 

Name :

ASK CHEMICALS INDIA PRIVATE LIMITED (w.e.f. 26.11.2012)

 

 

Formerly Known As :

ASK CHEMICALS FOUNDRY SOLUTION INDIA PRIVATE LIMITED (w.e.f. 24.02.2011)

 

AJAY METACHEM SUD CHEMIE PRIVATE LIMITED (w.e.f. 27.08.2008)

 

AJAY METACHEM PRIVATE LIMITED

 

 

Registered Office :

Office No 9 and 10, 5th Floor, Akshay Complex, Anudh, Pune – 411007, Maharashtra

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

31.07.1973

 

 

Com. Reg. No.:

11-016721

 

 

Capital Investment / Paid-up Capital :

Rs. 9.982 Millions

 

 

CIN No.:

[Company Identification No.]

U24231MH1973PTC016721

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

PNEA05295D

 

 

PAN No.:

[Permanent Account No.]

AACCA0713D

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer, Importer and Exporter of Chemicals.  

 

 

No. of Employees :

400 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (29)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 210000

 

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having moderate track record.

 

Rating reflects moderate financial risk profile due to loss incurred from its operation in the year 2014.

 

However, trade relation are fair. Business is active. Payment terms are slow but correct.

 

The company can be considered for business dealing with some 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 1, 2014

 

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

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

 

N E W S

 

Verdict Implications : Apex court order may alter coal import dynamics. Traders go slow on talks over coal supply contracts, uncertainty over cancellation of blocks weigh on stocks.

 

Recent arrest of the Chennai head of the Registrar of Companies, the ministry of corporate affairs arm that ensures that companies file all the information required by the Companies Act is the latest manifestation of a messy fight between a father and his adopted son for the control of Rs 40000 mn business empire. The Central Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10 lakhs as bribe from M A M Ramaswamy, a CBI official said.

 

Central Bureau of Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.

 

Infosys maintains revenue guidance. COO Rao says attrition still an area of concern and it would take a few more quarters to bring down levels to 13-15 %.

 

DHL  to invest Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its e-commerce business model for the Asia-Pacific region.

 

Blackstone may buy stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.

 

Kingfisher Airlines Ltd grounded in October 2012 under the weight of heavy debt and accumulated losses, recently approached the Delhi high court for relief in two separate cases. The airline challenged a notice by Punjab & National Bank alleging that It had wilfully defaulted on Rs 7700 mn of loans and sought more time to comply with the requirements under the listing agreements with the Stock Exchanges.

 

OnMobile likely to sack another 300 employees. The lay-offs follow a spate of senior-level exits over the past two years, starting with of its founder. The overall lay-offs could number around 600 and are driven by the need to cut costs, says a former employee.

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

CRISIL

Rating

Long term rating : BB-

Rating Explanation

Inadequate credit quality and high credit risk.

Date

12.11.2014

 

 

Rating Agency Name

CRISIL

Rating

Short term rating : A4

Rating Explanation

Minimal degree of safety and very high credit risk.

Date

12.11.2014

 

 

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

 

Name :

Mr. Sane

Designation :

Finance Head

Contact No.:

91-9922421254

Date :

29.11.2014

 

 

LOCATIONS

 

Registered Office :

Office No 9 and 10, 5th Floor, Akshay Complex, Anudh, Pune – 411007, Maharashtra, India

Tel. No.:

91-20-25898882

Mobile No.:

91-9922421254 (Mr. Sane)

Fax No.:

91-20-25898882

E-Mail :

yeshwant.pathak@ask-chemicals.com

manish.sathe@ask-chemicals.com

anant.Sane@ask-chemicals.com

Website :

www.ask-chemicals.com

Location :

Owned

 

 

Factory/ Head Office :

No. 72- 76, Mundwa, Main Road, Near Bharat Forge Limited, Pune - 411 036, Maharashtra, India

 

 

Factory :
  • Gate No 1211, 1212, 1213 and 1230 Part, Pune, Saswad Road, Wadki, Maharashtra, India
  • Jamshedpur
  • Delhi

 

 

DIRECTORS

 

As on 29.09.2014

 

Name :

Mr. Pratap Govind Pawar

Designation :

Managing director

Address :

S. No. 73 Off Baner Road, Near Pan Card Club Road , Behind Shroff Suyash, Building, Pune – 411045, Maharashtra, India

Date of Birth/Age :

15.10.1944

Qualification :

BE Civil

Experience :

42 Years

Date of Appointment :

09.11.2011

PAN No.:

AAUPP9272H

DIN No.:

00018985

 

 

Name :

Mr. Mahendra Singh Gurudev Singh Garcha

Designation :

Director

Address :

Plot No. 5 and 6, Flat No 401 and 501 S. No.132, Hissa No.1, Cosmopolitan Housing Society, Aundh, Pune – 411007, Maharashtra, India

Date of Birth/Age :

10.03.1964

Date of Appointment :

22.07.2008

DIN No.:

00018959

 

 

Name :

Mr. Ramchandra Ganesh Kulkarni

Designation :

Whole-time director

Address :

S No. 57/ 2AB, Building ,Flat – 4, Maurya Vihar, Kothrud, Pune – 411027, Maharashtra, India

Date of Birth/Age :

11.04.1941

Date of Appointment :

06.06.2005

PAN No.:

AHPPK3184M

DIN No.:

00025033

 

 

Name :

Mr. Stefan Sommer

Designation :

Nominee director

Address :

Hardtbergweg 23, Kronberg im Taunus, Hessen, Germany - 61476

Date of Birth/Age :

29.07.1957

Date of Appointment :

23.09.2011

DIN No.:

03418611

 

 

Name :

Mr. Thiemo Heinzen

Designation :

Nominee director

Address :

Brunnengasse 33, Hohenbrunn, Germany - 85662

Date of Birth/Age :

16.10.1965

Date of Appointment :

23.09.2011

DIN No.:

03454238

 

 

KEY EXECUTIVES

 

 

Name :

Mr. Sane

Designation :

Finance Head

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 29.09.2014

 

Names of Shareholders

 

No. of Shares

Ask Chemicals Pte Limited, Singapore

 

99824

Ask Chemicals GmbH

 

1

Total

 

99825

 

Equity Share Break up (Percentage of Total Equity)

 

As on 29.09.2014

 

Category

Percentage

Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others

100.00

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer, Importer and Exporter of Chemicals.  

 

 

Brand Names :

Not Divulged

 

 

Agencies Held :

Not Divulged

 

 

Exports :

 

Products :

Chemical

Countries :

·         Thailand

·         Pakistan

·         Dubai

·         Bangladesh

 

 

Imports :

 

Products :

·         Raw Material

Countries :

·         Germany

·         Singapore

·         China

 

 

Terms :

 

Selling :

Cash and Advance Payment

 

 

Purchasing :

Cash and Advance Payment

 

PRODUCTION STATUS NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

S I Group, Mumbai, Maharashtra, India

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

Customers :

Wholesalers, Retailers, End Users

 

Reference :

Maruti Suzuki India Limited, Gurgaon, Haryana, India

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

No. of Employees :

400 (Approximately)

 

 

Bankers :

Bank Name

Bank of Baroda

Branch

Shivajinagar, Pune, Pune - 411005, Maharashtra, India

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

Bank Name

HSBC Bank

Branch

Bund Garden Road, Pune, Maharashtra, India

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

Facilities :

Secured Loan

31.03.2014

(Rs. in Millions)

31.03.2013

(Rs. in Millions)

Short-term borrowings

 

 

Loans repayable on demand

Cash credit facilities

262.597

232.764

Total

262.597

232.764

 

 

 

Banking Relations :

 

 

 

Auditors :

 

Name :

BSSR and Company

Chartered Accountants

Address :

703, 7th Floor, Godrej Castlemaine, Bund Garden Road, Pune – 411001, Maharashtra, India

Tel No.:

91-20-30504000

Fax No.:

91-20-30504100

PAN N Income-tax PAN of auditor or auditor's firm :

AAKFB4397F

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Holding Company (Subsequent to December

2010)

(As on 31.03.2013) :

Ask Chemical Gmbh (Ashland Sudchemie Kernfest)

 

 

Holding Company (Till December 2010)

(As on 31.03.2013):

·         Sudchemie AG

 

 

A Companies in which directors Are substantially interested

(As on 31.03.2013):

·         Wikas Electric Ceramic Private Limited, India

·         Ojas Engineering Private Limited, India

CIN: U28999MH1969PTC014265

·         United Metachem Private Limited, India

·         CIN: U27104MH1974PTC017447

·         Sakal Papers Limited, India

CIN: U22121PN1948PTC006177

·         A P Holdings Private Limited

·         Stamford Warehousing and Developers Private Limited, India

CIN: U63023PN1990PTC057063

 

 

Fellow Subsidiaries (As on 31.03.2013):

·         Ask Chemicals Metallurgy Gmbh (SKW Giesserei Gmbh)

·         Ask Chemicals Feeding System Gmbh

·         Ask Chemicals Hi-Tech Inc.

·         ASK Chemicals US Limited

·         ASK Chemicals Espana S.A.U

·         PT- Sudchemie Indonesia

·         Sud-Chemie (Thai) Company Limited

·         ASK Chemicals UK Limited

 

 

CAPITAL STRUCTURE

 

As on 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

200000

Equity Shares

Rs.100/- each

Rs. 20.000 Millions

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

99825

Equity Shares

Rs.100/- each

Rs. 9.982 Millions

 

 

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

31.03.2014

31.03.2013

31.03.2012

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

9.983

9.983

9.982

(b) Reserves & Surplus

64.514

280.940

360.148

(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)

74.497

290.923

370.130

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

0.000

0.000

0.000

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

4.491

7.205

1.805

Total Non-current Liabilities (3)

4.491

7.205

1.805

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

262.597

233.764

141.919

(b) Trade payables

165.062

170.343

168.190

(c) Other current liabilities

23.241

38.660

33.855

(d) Short-term provisions

2.456

4.124

4.601

Total Current Liabilities (4)

453.356

446.891

348.565

 

 

 

 

TOTAL

532.344

745.019

720.500

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

98.237

164.390

181.331

(ii) Intangible Assets

0.291

4.796

8.678

(iii) Capital work-in-progress

0.000

40.021

15.003

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

0.065

0.065

0.065

(c) Deferred tax assets (net)

0.000

0.000

2.145

(d)  Long-term Loan and Advances

10.005

23.033

13.372

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

108.598

232.305

220.594

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

102.519

144.360

122.152

(c) Trade receivables

284.334

332.465

333.794

(d) Cash and cash equivalents

20.792

25.733

19.866

(e) Short-term loans and advances

16.101

19.156

24.094

(f) Other current assets

0.000

0.000

0.000

Total Current Assets

423.746

521.714

499.906

 

 

 

 

TOTAL

532.344

754.019

720.500

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

948.930

1072.315

1353.963

 

Other Income

 

 

 

 

TOTAL

948.930

1072.315

1353.963

 

 

 

 

 

Less

EXPENSES

1065.107

1117.242

1306.833

 

 

 

 

 

Less

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

(116.177)

(44.927)

47.130

 

 

 

 

 

Less

DEPRECIATION/ AMORTISATION

23.583

28.308

27.962

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, EXCEPTIONAL ITEMS

(139.760)

(73.235)

19.168

 

 

 

 

 

Less/ Add

EXCEPTIONAL ITEMS

76.665

0.000

0.000

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

(216.425)

(73.235)

19.168

 

 

 

 

 

Less

TAX

0.000

5.972

13.971

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

(216.425)

(79.207)

5.197

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD 

249.646

328.853

323.656

 

 

 

 

 

 

Balance Carried to the B/S

33.221

249.646

328.853

 

 

 

 

 

 

IMPORTS

 

 

 

 

Raw Materials

NA

NA

205.509

 

Trading Goods

NA

NA

31.511

 

Capital Goods

NA

NA

15.13

 

TOTAL IMPORTS

NA

NA

252.15

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

(2168.04)

(793.46)

52.06

 

 

Expected Sales (2014-2015) : Rs.900.000 Millions (Market Fluctuation)

 

The above information has been parted by Mr. Sane

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Return on Total Assets

(PBT/Total Assets}

(%)

40.66

(10.26)

2.73

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

2.91

(0.25)

0.05

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

3.52

0.80

0.38

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

0.93

1.17

1.43

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

 

DEBT EQUITY RATIO

 

Particular

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Millions)

(Rs. In Millions)

(Rs. In Millions)

Share Capital

9.982

9.983

9.983

Reserves & Surplus

360.148

280.940

64.514

Net worth

370.130

290.923

74.497

 

 

 

 

long-term borrowings

0.000

0.000

0.000

Short term borrowings

141.919

233.764

262.597

Total borrowings

141.919

233.764

262.597

Debt/Equity ratio

0.383

0.804

3.525

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Millions)

(Rs. In Millions)

(Rs. In Millions)

Total Income

1353.963

1072.315

948.930

 

 

(20.802)

(11.506)

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Millions)

(Rs. In Millions)

(Rs. In Millions)

Total Income

1353.963

1072.315

948.930

Profit

5.197

(79.207)

(216.425)

 

0.38%

(7.39%)

(22.81%)

 

 

 

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

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%

Yes

14]

Estimation for coming financial year

Yes

15]

Capital in the business

Yes

16]

Details of sister concerns

Yes

17]

Major suppliers

Yes

18]

Major customers

Yes

19]

Payments terms

Yes

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

Yes

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10005429

07/03/2012 *

83,700,000.00

BANK OF BARODA (SHIVAJI NAGAR BRANCH)

1303,JANGALI AHARAJ ROAD, SHIVAJINAGAR, PUNE, PUNE, MAHARASHTRA 411005, INDIA

B35826692

 

* Date of charge modification

 

FIXED ASSETS

 

Tangible assets

 

·         Land

·         Buildings

·         Office building

·         Factory building

·         Plant and equipment

·         Factory equipment’s

·         Other plant and equipment

·         Furniture and fixtures

·         Vehicles

·         Motor vehicles

·         Office equipment

·         Computer equipment’s

·         Books periodicals

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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.61.97

UK Pound

1

Rs.97.37

Euro

1

Rs.77.16

 

 

INFORMATION DETAILS

 

Information Gathered by :

DIP

 

 

Analysis Done by :

SUM

 

 

Report Prepared by :

KVT

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

4

PAID-UP CAPITAL

1~10

3

OPERATING SCALE

1~10

3

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

4

--PROFITABILIRY

1~10

3

--LIQUIDITY

1~10

3

--LEVERAGE

1~10

3

--RESERVES

1~10

3

--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

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

 

29

 

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

 

--

 

 

 

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.