MIRA
INFORM REPORT
|
Report Date : |
07.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
KUNAL PLASTICS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Sona Udyog, Building No. 4, 2nd Floor, Parsi Panchayat
Road, Andheri (East), Mumbai – 400069, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
26.12.1983 |
|
|
|
|
Com. Reg. No.: |
11-031665 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 2.500 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25209MH1983PTC031665 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMK11667F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACK4312L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer, Exporter and Importers of Polythene Plain and Printed
Bags. |
|
|
|
|
No. of Employees
: |
250 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 170000 |
|
|
|
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Slow |
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|
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|
Litigation : |
Clear |
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|
Comments : |
Subject is an established company having moderate track record. There appears losses recorded by the company from its operational
activities during the financial year 2013. External borrowing of the company
seems to be huge. However, trade relations are fair. Business is active. Payment terms
are slow. The company can be considered for business dealing with some caution. Note: As claimed by
Mr. Balan Daliyar, accounts manager that propack industries was set up as a
partnership firm in 1970, which was acquired by Kunal Plastics Private
Limited during Dec 1983. Further he also claimed that all activities are
carried out under Kunal Plastics Private Limited. |
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
The services sector, the largest contributor to India’s GDP, contracted
for the sixth consecutive month in December, as orders dipped. However, hiring
has risen. Direct tax collections rose 12.3 % during the April – December
period of the current financial year. The government has decided to
retain 100 per cent foreign direct investment in both greenfield (new) and brown
field (existing) pharmaceutical companies, despite concerns over genetic drugs
going out of production, if multi-national companies take over domestic ones.
In M&A deals, a non compete clause would not be allowed, except in special
circumstances. The Department of Industrial Policy and Promotion plans to
release the next edition of its consolidated foreign direct investment policy
document on March 31, incorporating changes made in the past year. DIPP
compiles all policies related to India’s FDI regime into a single document to
make it easy for investors to understand. 185 million estimated number of
mobile internet users in India by June 2014, according to a report by the
Internet & Mobile Association of India and IMRB International. India
had 110 million mobile internet users with 25 million in rural areas. $3.77 tn
estimated global IT spending in 2014, according to research firm Gartner Inc.
The growth forecast for this year is cut to 3.1 %from the earlier estimate of
3.5 %. The spending growth forecast for telecom services – a segment that
accounts for more than 40 % at total IT spending – from 1.9 per cent to 1.2 per
cent is the main reason for this overall IT cut. A Reserve Bank of India
committee has recommended setting up a special category of lenders who would
cater to small businesses and households, to expand the number of customers
with access to banking services. These banks would focus onproviding payment
services and deposit products. Indian banks want the free use of
automated teller machines to be capped at five transactions in a month
including that of the bank in which the account is active. This follows state
government order to banks to install security guards at ATM booths after a
woman banker was assaulted in Bangalore. The government is likely to present a
vote on Account in mid-February. The annual Economic Survey will be tabled
later in Parliament along with the full Budget. A full Budget for 2014/15 is
likely to be present in July by the new government formed after the General Election.
The government will soon launch an internet spy system, called Netra, to detect
malafide messages. Security agency will deploy the system to capture dubious
voice traffic on applications such as Skype and Google Talk, as well as
tweeters.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating: “B” |
|
Rating Explanation |
Risk prone credit quality and high risk of
default. |
|
Date |
18.12.2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating: “A4” |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
18.12.2012 |
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 PARTED BY
|
Name : |
Mr. Balam Daliyar |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-260-2243244 |
|
Date : |
07.02.2014 |
LOCATIONS
|
Registered Office : |
Sona Udyog, Building No. 4, 2nd Floor, Parsi Panchayat
Road, Andheri (East), Mumbai – 400069, Maharashtra, India |
|
Tel. No.: |
91-22-26833452/ 28203454/ 28361750 / 2243244 |
|
Fax No.: |
91-22-26840359/ 28302669 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
|
|
Tel. No.: |
91-260-2243244/ 2242244 |
|
Fax No.: |
91-260-2242044 |
|
Location : |
Owned |
|
|
|
|
Sales Office : |
4, Magan Mahal, |
|
Tel. No.: |
91-22-26833452/ 1403/ 0064 |
|
Fax No.: |
91-22-26840359 |
|
Email : |
DIRECTORS
As on: 27.08.2013
|
Name : |
Mrs. Alka Bankim Desai |
|
Designation : |
Director |
|
Address : |
2, Vatika 14, |
|
Date of Birth/Age : |
15.06.1957 |
|
Date of Appointment : |
26.12.1983 |
|
DIN No.: |
00397153 |
|
|
|
|
Name : |
Mrs. Amita Jaymin Desai |
|
Designation : |
Whole-time director |
|
Address : |
Kalpana, |
|
Date of Birth/Age : |
07.12.1961 |
|
Date of Appointment : |
26.12.1983 |
|
DIN No.: |
00233892 |
|
|
|
|
Name : |
Mrs. Charulata Nitin Patel |
|
Designation : |
Director |
|
Address : |
Kalpana, |
|
Date of Birth/Age : |
13.07.1963 |
|
Date of Appointment : |
26.12.1983 |
|
DIN No.: |
00233935 |
KEY EXECUTIVES
|
Name : |
Mr. Balam Daliyar |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 27.08.2013
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Ameeta Jaymin Desai |
|
8330 |
|
Charulata Nitin Patel |
|
8332 |
|
Indumati B. Desai |
|
1 |
|
Urmila C. Desai |
|
1 |
|
Chandravadhan M. Desai |
|
1 |
|
Kamlaben S Patel |
|
1 |
|
Surendra Patel (HUF) |
|
1 |
|
Alka B Desai |
|
8333 |
|
|
|
|
|
Total |
|
25000 |
Equity Share Break up (Percentage of Total Equity)
As on: 27.08.2013
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
99.98 |
|
Other top fifty shareholders |
|
0.02 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importers of Polythene Plain and Printed
Bags. |
|
|
|
|
Exports : |
|
|
Products : |
Polythene Printed Bag |
|
Countries : |
v
|
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
v
UAE v
v
|
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
v
Reliance Industries Limited |
|
|
|
|
Customers : |
End Users v
Polychem Associates |
|
|
|
|
No. of Employees : |
250 (Approximately) |
|
|
|
|
Bankers : |
State Bank of India, MIDC Andheri (East) Branch. Plot No B-4, MIDC Industrial Area, Central Road, Andheri, Mumbai - 400093, Maharashtra, India |
|
|
|
|
Facilities : |
Cash Credit: Rs. 70.000 Millions (From State
Bank of India) |
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|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Akkad Mehta and Company Chartered Accountants |
|
Address : |
2, Vatika, 14 Baptista road, Vile Parle (West), Mumbai – 400056, |
|
PAN No.: |
AAAFA2792F |
CAPITAL STRUCTURE
As on: 27.08.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000 |
Equity Shares |
Rs.100/- each |
Rs. 2.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
|
|
25000 |
Equity Shares |
Rs.100/- each |
Rs. 2.500 Millions |
|
|
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
2.500 |
2.500 |
2.500 |
|
(b) Reserves & Surplus |
40.075 |
69.206 |
63.800 |
|
(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) |
42.575 |
71.706 |
66.300 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
117.746 |
124.430 |
27.903 |
|
(b) Deferred tax liabilities (Net) |
18.528 |
5.979 |
6.033 |
|
(c) Other long
term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
136.274 |
130.409 |
33.936 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
68.078 |
53.286 |
20.564 |
|
(b)
Trade payables |
75.749 |
36.498 |
51.128 |
|
(c) Other
current liabilities |
14.502 |
28.079 |
26.300 |
|
(d) Short-term
provisions |
2.071 |
2.145 |
2.081 |
|
Total Current
Liabilities (4) |
160.400 |
120.008 |
100.073 |
|
|
|
|
|
|
TOTAL |
339.249 |
322.123 |
200.309 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
181.805 |
53.593 |
51.699 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
132.142 |
3.789 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
4.349 |
5.877 |
5.877 |
|
(c) Deferred tax
assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
12.883 |
9.985 |
9.741 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
199.037 |
201.597 |
71.106 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
52.224 |
40.899 |
51.322 |
|
(c)
Trade receivables |
73.348 |
67.088 |
63.414 |
|
(d) Cash
and cash equivalents |
6.845 |
7.906 |
8.253 |
|
(e)
Short-term loans and advances |
6.487 |
4.178 |
6.205 |
|
(f)
Other current assets |
1.308 |
0.455 |
0.009 |
|
Total
Current Assets |
140.212 |
120.526 |
129.203 |
|
|
|
|
|
|
TOTAL |
339.249 |
322.123 |
200.309 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
|
|
381.733 |
|
|
|
Other Income |
|
|
49.620 |
|
|
|
TOTAL |
424.736 |
425.487 |
431.353 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
428.966 |
413.009 |
407.741 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(4.230) |
12.478 |
23.612 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
10.823 |
4.517 |
3.909 |
|
|
|
|
|
|
|
|
|
Less |
EXCEPTIONAL
ITEMS |
1.528 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / ( LOSS)
BEFORE TAX |
(16.581) |
7.961 |
19.703 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
12.549 |
2.265 |
6.584 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
(29.130) |
5.696 |
13.119 |
|
|
|
|
|
|
|
|
|
Less/ Add |
Excess/(Short)
provision of Tax for earlier Years |
0.000 |
0.000 |
0.535 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
22.868 |
18.463 |
12.535 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
1.000 |
7.000 |
|
|
|
Proposed Dividend on Equity Shares |
0.000 |
0.250 |
0.625 |
|
|
|
Dividend Distribution Tax |
0.000 |
0.041 |
0.101 |
|
|
BALANCE CARRIED
TO THE B/S |
(6.262) |
22.868 |
18.463 |
|
|
|
|
|
|
|
|
|
|
Earnings/ Loss
Per Share (Rs.) |
(1165.20) |
227.84 |
524.76 |
|
Expected Sales (2013-2014): Rs. 450.000 Millions
The above information has been parted by Mr. Balan Daliyar
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(6.86) |
1.33 |
3.04 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(4.95) |
4.32 |
10.33 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.39) |
0.11 |
0.30 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
4.36 |
2.48 |
0.73 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.87 |
1.01 |
1.29 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS: NOT AVAILABLE
|
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% |
-- |
|
14] |
Estimation for coming financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
No |
|
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 |
OPERATION
The company total revenues for the year were Rs. 424.736 Millions as compared to Rs.425.488 Millions for the previous year. The Company’s has incurred a loss of Rs. 29.130 Millions as compared to profit tax of Rs. 5.696 Millions in the preceding year.
The volatility in raw material prices continued as in previous year. Inflationary trend in commodity market, higher borrowing cost and fluctuation in exchange rate has adversely affected the business growth and profit margin
PROSPECTS FOR THE
CURRENT YEAR
The company expects the current year to be full of challenges. The abnormal increase in input cost, stagnancy in demand coupled with inflation rate and increased borrowing cost will put pressure on volume growth as well as profit margin.
The uncertainty continues in behavior of oil prices which will affect the prices and availability of critical raw material. Abnormal fluctuations in exchange rate will also have adverse impact on cost of raw material.
The company has successfully commissioned CI Flexo Printing Line in May 2012 to modernize and expand its printing capability. The Company is putting more efforts towards developing diversified customer base as well new applications. The company has established long standing relationship with its key customers and its strength has been the ability to understand the ultimate customers’ end use performance characteristics and to develop products to meet these requirements.
The company expects growth from new applications and diversified products. Barring unforeseen circumstances, company expects to have marginal growth in volume and profitability during current year.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10168144 |
11/06/2009 |
20,000,000.00 |
STATE BANK OF INDIA |
MIDC ANDHERI(EAST) BRANCH, PLOT NO.B-1, CENTRAL ROAD, ANDHERI (EAST), MUMBAI, MAHARASHTRA - 400069, INDIA |
A66108937 |
|
2 |
10092892 |
23/09/2006 |
69,000,000.00 |
STATE BANK OF INDIA |
M.I.D.C., ANDHERI (EAST) BRANCH, MAROL, CENTRAL |
A08198970 |
|
3 |
80044679 |
11/04/2011 * |
200,500,000.00 |
STATE BANK OF INDIA |
MIDC ANDHERI (EAST) BRANCH. PLOT NO B-4, MIDC INDUSTRIAL AREA, CENTRAL ROAD, ANDHERI, MUMBAI, MAHARASHTRA - 400093, INDIA |
B12236329 |
* Date of charge modification
TRADE REFERENCES:
v
Reliance Industries Limited
v
Polychem Associates
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. 62.50 |
|
|
1 |
Rs. 101.91 |
|
Euro |
1 |
Rs. 84.50 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
- |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
27 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely
sound financial base with the strongest capability for timely payment of
interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working
capital. No caution needed for credit transaction. It has above average
(strong) capability for payment of interest and principal sums |
Large |
|
56-70 |
A |
Financial &
operational base are regarded healthy. General unfavourable factors will not cause
fatal effect. Satisfactory capability for payment of interest and principal
sums |
Fairly
Large |
|
41-55 |
Ba |
Overall operation is
considered normal. Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial
difficulties seems comparatively below average. |
Small |
|
11-25 |
Ca |
Adverse factors are
apparent. Repayment of interest and principal sums in default or expected to
be in default upon maturity |
Limited
with full security |
|
<10 |
C |
Absolute credit risk
exists. Caution needed to be exercised |
Credit
not recommended |
|
-- |
NB |
New
Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.