MIRA INFORM REPORT

 

 

Report Date :

27.02.2014

 

IDENTIFICATION DETAILS

 

Name :

SUPACK INDUSTRIES PRIVATE LIMITED

 

 

Registered Office :

Pattani Building, Dhebarbhai Road, Rajkot-360001, Gujarat

 

 

Country :

India

 

 

Financials (as on) :

31.03.2013

 

 

Date of Incorporation :

18.10.1988

 

 

Com. Reg. No.:

04-011393

 

 

Capital Investment / Paid-up Capital :

Rs.6.365 Millions

 

 

CIN No.:

[Company Identification No.]

U21099GJ1988PTC011393

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

RKTS00553A

 

 

PAN No.:

[Permanent Account No.]

AACCS9892D

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturing of Corrugated Boxes, Sheet and Paperboards.

 

 

No. of Employees :

Information denied by the management

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (45)

 

RATING

STATUS

 

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 885000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Exist

 

 

Comments :

Subject is an established company having satisfactory track record.

 

There appears dip in profitability of the company during the financial year 2013.

 

However, general financial position of the company reported to be decent.

 

Trade relations are fair. Business is active. Payment terms are reported to be usually correct.

 

The company can be considered for business dealings at usual trade terms and condition. 

 

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 DECLINED

 

Management non co-operative [91-281-2783331]

 

 

LOCATIONS

 

Registered Office :

Pattani Building, Dhebarbhai Road, Rajkot-360001, Gujarat, India

Tel. No.:

91-281-2783331/2783431

Fax No.:

91-281-2783330

E-Mail :

mipassociates@gmail.com

supack@supack.com

 

 

Factory  :

Haripar (Pal)

Opp. Motel The Village, Kalawad Road, Via Rajkot, Gujarat, India

Tel No.: 91-281-2783331/2783431

Fax : 91-281-2783330

 

Bajwa

Saurashtra Packing Service

M. G. Road, District Baroda, Gujarat, India

Tel No.: 91-265-2232817/ 3245307

Fax : 91-265-2232817

 

Daman

Smart Packaging

Shree Ganesh Ind. Estate, Plot No. 7, Kachigam, Nani Daman, Daman (UT), India

Tel No.: 91-260-2242566/ 3295307

Fax : 91-260-2242566

 

 

DIRECTORS

 

AS ON 30.09.2013

 

Name :

Mr. Ashwin Amrutlal Shah

Designation :

Managing Director

Address :

22, Arch, 4 Mahavir Society, Nirmala School Road, Rajkot-360001, Gujarat, India

Date of Birth / Age :

16.12.1945

Date of Appointment :

02.11.1988

Din No.:

00127688

 

 

Name :

Mr. Bhupendra Amritlal Shah

Designation :

Chairman cum Director

Address :

Amrut Labh, 149, Hindu Colony, 4th Floor, 6th Lane, Dadar, Mumbai-400014, Maharashtra, India

Date of Birth / Age :

08.08.1938

Date of Appointment :

28.02.1995

Din No.:

00191112

 

 

Name :

Mr. Mitul Ashwin Shah

Designation :

Director

Address :

22, Arch, 4 Mahavir Society, Nirmala School Road, Rajkot-360001, Gujarat, India

Date of Birth / Age :

02.07.1976

Date of Appointment :

09.07.2004 [Appointed as an additional director]

 

30.09.2004 [Regularized as a director on 30.09.2004]

Din No.:

00127654

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2013

 

Names of Shareholders

No. of Shares

% of Holding

Ashwin Amrutlal Shah

255000

40.06

Anjana A. Shah

100000

15.71

Mitul Ashwin Shah

240000

37.71

Ashwin Amrutlal Shah HUF

35000

5.50

Niyati M. Shah

6500

1.02

TOTAL

636500

100.00

 

 

AS ON 30.09.2013

 

Equity Share Breakup

 

Percentage of Holding

Category

 

 

Directors or relatives of directors

 

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturing of Corrugated Boxes, Sheet and Paperboards.

 

 

GENERAL INFORMATION

 

No. of Employees :

Information denied by the management

 

 

Bankers :

Bank of India, M.G. Road, Para Bazar, Rajkot-360001, Gujarat, India

 

 

Facilities :

Secured Loan

As on 31.03.2013

[Rs. in Millions]

As on 31.03.2012

[Rs. in Millions]

Long Term Borrowings

 

 

Corporate Loan

[Secured against hypothecation of stock, book debt, plant and machinery, personal guarantee of directors]

0.000

2.516

HDFC Passat Car Loan

[Secured against car]

0.719

1.505

ICICI Polo Car Loan

[Secured against car]

0.188

0.000

 

 

 

Short Term Borrowings

 

 

Bank of India Cash Credit

[Secured against hypothecation of stock, book debts, plant and machinery, personal guarantee of directors]

6.107

(11.695)

TOTAL

7.014

(7.674)

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Janmesh Bharvada and Associates

Chartered Accountants

Address :

302, Samskruti Apartment, Opposite Ambedkar Bhavan, Axar Marg, Kalawad Road, Rajkot-360001, Gujarat, India

PAN No:

AGUPB7435J

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2013

 

Authorised Capital :

No. of Shares

Type

Value

Amount

900000

Equity Shares

Rs.10/- each

Rs.9.000 Millions

 

Issued Capital :

No. of Shares

Type

Value

Amount

810000

Equity Shares

Rs.10/- each

Rs.8.100 Millions

 

Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

636500

Equity Shares

Rs.10/- each

Rs.6.365 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

6.365

6.365

8.100

(b) Reserves & Surplus

215.052

174.398

151.337

(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)

221.417

180.763

159.437

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

25.121

21.155

54.080

(b) Deferred tax liabilities (Net)

10.731

9.591

9.321

(c) Other long term liabilities

0.267

0.267

0.000

(d) long-term provisions

0.000

0.000

0.000

Total Non-current Liabilities (3)

36.119

31.013

63.401

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

6.107

(11.695)

(1.761)

(b) Trade payables

36.364

40.037

35.850

(c) Other current liabilities

2.824

19.217

1.451

(d) Short-term provisions

6.951

4.855

7.121

Total Current Liabilities (4)

52.246

52.414

42.661

 

 

 

 

TOTAL

309.782

264.190

265.499

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

88.724

72.742

75.765

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

0.569

0.569

0.000

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

17.504

0.004

12.535

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d) Long-term Loan and Advances

1.507

0.923

0.957

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

108.304

74.238

89.257

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

52.561

53.458

66.497

(c) Trade receivables

137.053

125.062

95.379

(d) Cash and cash equivalents

4.543

5.507

0.700

(e) Short-term loans and advances

7.321

5.925

13.666

(f) Other current assets

0.000

0.000

0.000

Total Current Assets

201.478

189.952

176.242

 

 

 

 

TOTAL

309.782

264.190

265.499

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2013

31.03.2012

31.03.2011

 

SALES

 

 

 

 

 

Income

613.914

627.228

531.178

 

 

Other Income

1.262

10.405

6.669

 

 

TOTAL                                     (A)

615.176

637.633

537.847

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

TOTAL                                     (B)

542.234

531.472

447.499

 

 

 

 

 

Less

PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)     (C)

72.942

106.161

90.348

 

 

 

 

 

Less

FINANCIAL EXPENSES                                    (D)

6.035

6.331

8.870

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                                (E)

66.907

99.830

81.478

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

7.712

6.558

6.234

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX (E-F)               (G)

59.195

93.272

75.244

 

 

 

 

 

Less

TAX                                                                  (H)

18.542

28.570

24.401

 

 

 

 

 

 

PROFIT / (LOSS) AFTER TAX (G-H)                  (I)

40.653

64.702

50.843

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

63.87

101.65

--

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2013

31.03.2012

31.03.2011

PAT / Total Income

(%)
6.61

10.15

9.45

 

 
 

 

 

Net Profit Margin

(PBT/Sales)

(%)
9.64

14.87

14.17

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)
20.29

35.38

29.74

 

 
 

 

 

Return on Investment (ROI)

(PBT/Networth)

 
0.27

0.52

0.47

 

 
 

 

 

Debt Equity Ratio

(Total Debt/Networth)

 
0.14

0.05

0.33

 

 
 

 

 

Current Ratio

(Current Asset/Current Liability)

 
 3.85

3.62

4.13

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

 

DEBT EQUITY RATIO

 

Particular

31.03.2011

31.03.2012

31.03.2013

 

(INR in Mlns.)

(INR in Mlns.)

(INR in Mlns.)

Share Capital

8.100

6.365

6.365

Reserves & Surplus

151.337

174.398

215.052

Net worth

159.437

180.763

221.417

 

 

 

 

long-term borrowings

54.080

21.155

25.121

Short term borrowings

(1.761)

(11.695)

6.107

Total borrowings

52.319

9.460

31.228

Debt/Equity ratio

0.328

0.052

0.141

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2011

31.03.2012

31.03.2013

 

(INR in Mlns)

(INR in Mlns)

(INR in Mlns)

Sales

531.178

627.228

613.914

 

 

18.082

(2.123)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


NET PROFIT MARGIN

 

Net Profit Margin

31.03.2011

31.03.2012

31.03.2013

 

(INR in Mlns)

(INR in Mlns)

(INR in Mlns)

Sales

531.178

627.228

613.914

Profit

50.843

64.702

40.653

 

9.57%

10.32%

6.62%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


LOCAL AGENCY FURTHER INFORMATION

 

DETAILS OF CURRENT MATURITIES OF LONG TERM DEBT:

 

Particulars

 

31.03.2013

[Rs. in millions]

31.03.2012

[Rs. in millions]

31.03.2011

[Rs. in millions]

 

 

 

 

Current Maturities of Long Term Debt

0.923

18.198

NA

 

 

Sr. No.

Check List by Info Agents

Available in Report (Yes / No)

1]

Year of Establishment

Yes

2]

Locality of the firm

Yes

3]

Constitutions of the firm

Yes

4]

Premises details

No

5]

Type of Business

Yes

6]

Line of Business

Yes

7]

Promoter's background

Yes

8]

No. of employees

No

9]

Name of person contacted

No

10]

Designation of contact person

No

11]

Turnover of firm for last three years

Yes

12]

Profitability for last three years

Yes

13]

Reasons for variation <> 20%

--

14]

Estimation for coming financial year

No

15]

Capital in the business

Yes

16]

Details of sister concerns

No

17]

Major suppliers

No

18]

Major customers

No

19]

Payments terms

No

20]

Export / Import details (if applicable)

No

21]

Market information

--

22]

Litigations that the firm / promoter involved in

Yes

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]

PAN of Proprietor/Partner/Director, if available

No

32]

Date of Birth of Proprietor/Partner/Director, if available

Yes

33]

Voter ID No of Proprietor/Partner/Director, if available

No

34]

External Agency Rating, if available

No

 

 

 

HIGH COURT OF GUJARAT

 

TAX APPEAL NO. 1722 OF2008

 

STATUS : PENDING                         (CONVERTED FROM : ST/2288/2008)        CCIN NO : 001092200801722

 

LAST LISTING DATE:  02/03/2009

 

CORAM:

HONOURABLE THE CHIEF JUSTICE MR. K.S.RADHAKRISHNAN

HONOURABLE MR.JUSTICE AKIL KURESHI

NOT BEFORE :

HONOURABLE MR.JUSTICE RAJESH H.SHUKLA

 

 

S. NO.

NAME OF THE PETITIONER

ADVOCATE ON RECORD

1

COMMISSIONER OF CENTRAL EXCISE & CUSTOMS

MR DARSHAN M PARIKH FOR: APPELLANT(S) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png1

 

 

 

S.NO.

NAME OF THE RESPONDANT

ADVOCATE ON RECORD

1

SUPACK INDUSTRIES PRIVATE LIMITED

RULE SERVED FOR :OPPONENT(S) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png1

 

 

PRESENTED ON

: 30/06/2008

REGISTERED ON

: 30/06/2008

BENCH CATEGORY

: DIVISION BENCH

DISTRICT

: RAJKOT

CASE ORIGINATED FROM

: THROUGH ADVOCATE

LISTED

: 123 TIMES

STAGE NAME:

: BOARD NO. I-A

ACT

TAXATION LAWS (CONTINUATION AND VALIDATION OF RECOVERY PROCEEDINGS) ACT, 1964

OFFICE DETAILS

S. NO.

FILING DATE

DOCUMENT NAME

ADVOCATE NAME

COURT FEE ON DOCUMENT

DOCUMENT DETAILS

1

15/08/2008

VAKALATNAMA

MR DARSHAN M PARIKH ADVOCATE
FOR PETITIONER(S) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png1

-

MR DARSHAN M PARIKH:1

2

15/08/2008

DOCUMENT

RULE SERVED
FOR RESPONDENT(S) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png1

-

RULE SERVED:1

3

02/12/2008

APPEARANCE NOTE

MR DARSHAN M PARIKH ADVOCATE
FOR PETITIONER(S) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png1

-

MR DARSHAN M PARIKH:1

COURT PROCEEDINGS

S. NO.

NOTIFIED DATE

COURT CODE

BOARD SR. NO.

STAGE

ACTION

CORAM

1

02/03/2009

1

-

BOARD NO. I-A

FIXED RULE / ADMIT

·         HONOURABLE THE CHIEF JUSTICE MR. K.S.RADHAKRISHNAN

·         HONOURABLE MR.JUSTICE AKIL KURESHI

AVAILABLE ORDERS

S. NO.

CASE DETAILS

JUDGE NAME

ORDER DATE

CAV

JUDGMENT/ORDER

1

TAX APPEAL/1722/2008

·         HONOURABLE THE CHIEF JUSTICE MR. K.S.RADHAKRISHNAN

·         HONOURABLE MR.JUSTICE AKIL KURESHI

02/03/2009

N

ORDER

 

 

INDEX OF CHARGES:

 

S. No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10171921

26/03/2013 *

47,500,000.00

BANK OF INDIA

PARA BAZAR, M. G. ROAD., RAJKOT - 360001, GUJARAT, INDIA

B72551401

 

* Date of charge modification

 

 

Unsecured Loan

As on 31.03.2013

[Rs. in Millions]

As on 31.03.2012

[Rs. in Millions]

Long Term Borrowings

 

 

From Directors

20.135

13.422

From Shareholders

4.079

3.712

TOTAL

24.214

17.134

 

 

FIXED ASSETS:

 

  • Land
  • Site Development
  • Building
  • Plant and Machinery
  • Testing Equipments
  • Weighing Machine
  • Loan Mover
  • Furniture and Fixtures
  • Vehicles
  • Office Equipments
  • Air Conditioner
  • Typewriter
  • Calculators
  • Computer System
  • Office Building

 

 

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.61.94

UK Pound

1

Rs.103.31

Euro

1

Rs.85.11

 

 

INFORMATION DETAILS

 

Information Gathered by :

NYA

 

 

Report Prepared by :

TPT


 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILIRY

1~10

4

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--RESERVES

1~10

6

--CREDIT LINES

1~10

5

--MARGINS

-5~5

--

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

YES

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

NO

--AFFILIATION

YES/NO

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

--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

 

--

 

 

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.