MIRA
INFORM REPORT
|
Report Date : |
18.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
MEHTA FLEX PRIVATE LIMITED (w.e.f.05.12.2000) |
|
|
|
|
Formerly Known
As : |
MEHTA FLAX PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
B-48, New Empire Industrial Estate, Kondivita Road, Andheri (East),
Mumbai – 400059, Maharashtra |
|
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|
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Country : |
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|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
21.09.1999 |
|
|
|
|
Com. Reg. No.: |
11-121864 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.4.740
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25202MH1999PTC121864 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM14241D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of
Flexible Films. |
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|
|
No. of Employees
: |
150 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1340000 |
|
|
|
|
Status : |
Moderate |
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|
Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a moderate track record. The financial statements after F.Y. 2011 could not be made available
from the government department. Mr. Deepak from Accounts Department provided general details and
denied to disclose any financial information. As per available financials, the company possesses an average
financial profile marked by volatility in its net profitability. However, trade relations are fair. Business is active. Payment terms
are unknown. In view of unavaibility of the required financials, the subject can be
considered for business dealings with caution. |
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 worst is over for India’s economy with gross domestic product likely
to expand 5 %to 5.5 % this year and more than 6 % in 2015, according to Moody’s
Analytics. Concerns over the rupee and current account deficit are under
control, said the agency. Ratings firm Crisil has forecast 6 % growth for
2014/15 up from the estimated 4.8 % for 2013/14. Total economic growth,
infrastructure bottlenecks and lack of transparency and consistency in foreign
direct investment policies seem to have taken a toll on India’s attractiveness
as an investment destination, says an Ernst & Young survey. Projects
with FDI component fell 16.4 % across the globe in 2012 from the previous
year. The drop in India was steeper at 21 %. State run carrier Air India
is doling out free tickets to its 24000 employees, even as it expects to incur
a loss of Rs 39000 mn this financial year and has a debt of Rs 350000 mn.
550000 number of jobs generated across India in 2013, a fall of 0.4 % as
compared to with a year earlier. The National Capital Region has a
one-fourth share in total jobs created, according to a study by industry lobby
group Assochem, Banks, real estate, automobile and telecommunications sectors
are showing a rise of job creation. $ 805 mn investments by venture capital
firms in India during 2013, registering a drop of about 18 % over the previous
year. The Information Technology and IT-Enabled Services Industry retained
its status as the favourable venture capital investors in 2013. Pakistan has
temporarily banned gold imports for the second time in six months, as it tries
to stem smuggling into India. India’s import duty on gold is 10 % and curbs on
purchases have dried up legal imports into what used to be the world’s biggest
bullion buyers. The World Gold Council puts the amount smuggled into India at
upto 200 tonnes in 2013. The Reserve Bank of India has proposed that unclaimed
bank deposits estimated to be about Rs 35000 mn be used for education and
awareness among depositors. According to the plan, deposits that have not
been claimed for at least 10 years will be transferred to the scheme.
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 [GENERAL DETAILS]
|
Name : |
Mr. Deepak |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-22-28324463 |
|
Date : |
18.02.2014 |
LOCATIONS
|
Registered Office : |
B-48, New Empire Industrial Estate, Kondivita Road, Andheri (East),
Mumbai – 400059, Maharashtra, India |
|
Tel. No.: |
91-22-28324463/ 28365625/ 28366208/ 28378757/ 28394888/ 28320910 |
|
Fax No.: |
91-22-28365901 |
|
E-Mail : |
|
|
Website: |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
Survey No. 376/2 (4,5,6) and 376/8, Zaricauseway Road, Kachigam, Daman,
Daman and Diu, India |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Vijay Nagraj Mehta |
|
Designation : |
Director |
|
Address : |
402, Bharat Apartment, |
|
Date of Birth/Age : |
06.06.1964 |
|
Date of Appointment : |
21.09.1999 |
|
DIN No.: |
00898178 |
|
|
|
|
Name : |
Mr. Ranjit Nagraj Mehta |
|
Designation : |
Director |
|
Address : |
402, Bharat Apartment, |
|
Date of Birth/Age : |
01.07.1958 |
|
Date of Appointment : |
19.01.2001 |
|
DIN No.: |
00898061 |
KEY EXECUTIVES
|
Name : |
Mr. Deepak |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Name of Shareholders |
No. of Shares |
%age |
|
Kantilal Mehta |
72000 |
15.19 |
|
Nirmala Mehta |
50000 |
10.55 |
|
Pratik Mehta |
21000 |
4.43 |
|
Rahul Mehta |
85000 |
17.93 |
|
Ranjit Mehta |
86000 |
18.14 |
|
Ranjit N Mehta [HUF] |
1000 |
0.21 |
|
Sunita Mehta |
71000 |
14.98 |
|
Usha Mehta |
1000 |
0.21 |
|
Vijay Mehta |
87000 |
18.35 |
|
Total |
4,74,000 |
100.00 |
AS ON 30.09.2013
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Directors or
relatives of Directors |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of
Flexible Films. |
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Products : |
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Imports : |
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Products : |
Raw Materials |
||||
|
Countries : |
· Singapore · Hong Kong |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Licensed Capacity |
Installed Capacity |
Actual Production |
|
|
|
|
|
|
|
Multilayer Co-Extruted Films and Bags |
KG |
NA |
10,100 |
6,542,189.70 |
GENERAL INFORMATION
|
Suppliers : |
· Reliance Industries Limited |
||||||||||||||||||||||||
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|
||||||||||||||||||||||||
|
Customers : |
Retailers and End Users · Ruchi Infrastructure Limited · Ruchi Industries Limited Oil Packaging
Film · Bunge India Private Limited · Kalisuwari Refinery Private Limited · K.L.F. Oil Industry Private Limited · M.K. Agro Tech Private Limited · Poonam Dal and Oil Industries Limited · Ruche Soy Industries · Liberty Oil Mills · Kamani Oil Industries · Raj Oil Mills · B.L. Agro Industries PET/Poly and PE/
PE Laminated Film · Natural Remedies Private Limited · Neo Petcon (India) Private Limited · K.L.F. Oil Industries · V.V.V. and Sons Milk/ Ghee
Packaging Film · Kolhapur Zilla Sahakari Dudh Utpadak Sangh Limited · Warana Sahakari Dudh Utpadak Sangh Limited · Sinnar Taluka Vibhagiya Sahakari Dudh Sangh · Kerala Co-op Milk Marketing Federation · Hatsun Agro Tech Limited · Reliance Dairy Food Limited · Paras Dairy Shrink Packaging
Film · SAB Miller · AGI Glaspac · Pepsico India · Hindustan Coca-Cola Beverages Private Limited Lamination Film · Paper Products Limited |
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No. of Employees : |
150 [Approximately] |
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Bankers : |
·
HDFC Bank Limited HDFC Bank Housesenapati
Bapat Marg, Lower Parel West, Mumbai- 400013, Maharashtra, India ·
Vijaya Bank Excelsior Branch, Fort,
Mumbai- 400001, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
R Trivedi and Associates Chartered Accountants |
|
Address : |
119, Ranjit Studio, G-Block, Ground Floor, D.S.P Road, Dadar (East),
Mumbai-400014, Maharashtra, India |
|
PAN No.: |
AABPT8670Q |
|
|
|
|
Associates : |
· Metro Polythene Manufacturers B-49, New Empire Industries Estate, Kondivita Road, Andheri (east), Mumbai – 400059, Maharashtra, India |
CAPITAL STRUCTURE
(AS ON 30.09.2013)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
474000 |
Equity Shares |
Rs.10/- each |
Rs.4.740
Millions |
|
|
|
|
|
FINANCIAL DATA
[All figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
4.740 |
4.740 |
4.710 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
329.131 |
263.516 |
170.402 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
333.871 |
268.256 |
175.112 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
52.515 |
40.968 |
30.675 |
|
|
2] Unsecured Loans |
104.900 |
104.873 |
84.180 |
|
|
TOTAL BORROWING |
157.415 |
145.841 |
114.855 |
|
|
DEFERRED TAX LIABILITIES |
8.277 |
9.948 |
5.996 |
|
|
|
|
|
|
|
|
TOTAL |
499.563 |
424.045 |
295.963 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
280.481 |
330.903 |
223.457 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
78.300
|
65.452 |
29.484
|
|
|
Sundry Debtors |
113.849
|
106.147 |
96.969
|
|
|
Cash & Bank Balances |
8.673
|
12.984 |
24.126
|
|
|
Other Current Assets |
0.000
|
0.000 |
0.000
|
|
|
Loans & Advances |
48.726
|
61.548 |
32.392
|
|
Total
Current Assets |
249.548
|
246.131 |
182.971
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
22.985
|
140.475 |
109.908
|
|
|
Other Current Liabilities |
0.045
|
0.465 |
0.422
|
|
|
Provisions |
7.436
|
12.049 |
0.135
|
|
Total
Current Liabilities |
30.466
|
152.989 |
110.465
|
|
|
Net Current Assets |
219.082
|
93.142 |
72.506
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
499.563 |
424.045 |
295.963 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income (Sale of Products and Services) |
977.619 |
971.052 |
567.539 |
|
|
|
Other Income |
4.617 |
4.754 |
1.890 |
|
|
|
TOTAL (A) |
982.236 |
975.806 |
569.429 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing and Other Expenses |
834.756 |
808.594 |
494.742 |
|
|
|
TOTAL (B) |
834.756 |
808.594 |
494.742 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
147.480 |
167.212 |
74.687 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
11.632 |
7.805 |
11.009 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
135.848 |
159.407 |
63.678 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
49.223 |
38.074 |
29.710 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
86.625 |
121.333 |
33.968 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
21.009 |
28.219 |
10.231 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
65.616 |
93.114 |
23.737 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
261.317 |
168.203 |
144.466 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
326.933 |
261.317 |
168.203 |
|
|
|
|
|
|
|
|
|
|
Basic/ Diluted
Earnings Per Share (Rs.) |
138.43 |
196.44 |
50.40 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
6.68
|
9.54 |
4.17
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.86
|
12.49 |
5.98
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
16.34
|
21.03 |
8.35
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.26
|
0.45 |
0.19
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.47
|
0.54 |
0.66
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
8.19
|
1.61 |
1.65
|
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2009 |
31.03.2010 |
31.03.2011 |
|
|
(INR in Mlns.) |
(INR in Mlns.) |
(INR in Mlns.) |
|
Share Capital |
4.710 |
4.740 |
4.740 |
|
Reserves & Surplus |
170.402 |
263.516 |
329.131 |
|
Net worth |
175.112 |
268.256 |
333.871 |
|
|
|
|
|
|
Secured Loans |
30.675 |
40.968 |
52.515 |
|
Unsecured Loans |
84.180 |
104.873 |
104.900 |
|
Total borrowings |
114.855 |
145.841 |
157.415 |
|
Debt/Equity ratio |
0.656 |
0.544 |
0.471 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2009 |
31.03.2010 |
31.03.2011 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Sales |
567.539 |
971.052 |
977.619 |
|
|
|
71.099 |
0.676 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2009 |
31.03.2010 |
31.03.2011 |
|
|
(INR) |
(INR) |
(INR) |
|
Sales |
567.539 |
971.052 |
977.619 |
|
Profit |
23.737 |
93.114 |
65.616 |
|
|
4.18% |
9.59% |
6.71% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT: 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 |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
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 |
No |
|
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 |
UNSECURED LOANS
|
Particulars |
31.03.2011 |
31.03.2010 |
|
|
(Rs. in Millions) |
|
|
Loan from Directors, Shareholders and Others |
104.900 |
104.873 |
|
|
|
|
|
Total |
104.900 |
104.873 |
OPERATING RESULTS:
During the year the company has recorded the Total Income of Rs. 982.236
Millions and made a Net Profit of Rs. 65.616 Millions (Previous year, Net Profit
of Rs. 93.114 Millions) during the coming year the company expected to achieve
better receipts and net income.
TRADE REFERENCE:
· Ruchi Infrastructure Limited
· Ruchi Industries Limited
· Reliance Industries Limited
INDEX OF CHARGES:
|
S.No. |
Charge ID |
Date of
Charge Creation/ Modification |
Charge amount
secured |
Charge Holder |
Address |
Service
Request Number (SRN) |
|
1 |
80056124 |
25/01/2014 * |
123,000,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSESENAPATI
BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B95027140 |
|
2 |
90143610 |
25/08/2004 * |
8,500,000.00 |
VIJAYA BANK |
EXCELSIOR
BRANCH, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
- |
* Date of charge modification
FIXED ASSETS
v Freehold Land
v Buildings
v Plant and Machinery
v Motor Vehicles
v Furniture and Fixtures
v Office Equipment’s
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 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] 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.61.95 |
|
|
1 |
Rs.104.02 |
|
Euro |
1 |
Rs.84.95 |
INFORMATION DETAILS
|
Information Gathered
by : |
PDT |
|
|
|
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
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 |
4 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
28 |
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.