|
Report Date : |
02.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
NANDOSAL CHEM INDUSTRIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
76, Level-1, Deewan Centres, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
15.06.1987 |
|
|
|
|
Com. Reg. No.: |
11-043772 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 9.630 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24230MH1987PTC043772 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMN05920F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing of various Dyes and Chemicals. |
|
|
|
|
No. of Employees
: |
30 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 100000 |
|
|
|
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
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|
Comments : |
Subject is an established company having a moderate track record. There appears drastic dip in the profit of the company during 2013. However, trade relations are fair. Business is active. Payments are reported
to be 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.
INDIAN ECONOMIC OVERVIEW
India’s current
account deficit narrowed in the quarter ended September as government measures
to curb imports, especially gold, kicked in. The current account deficit,
the excess of a country’s imports of goods and services over exports, narrowed
to $ 5.2 billion from $ 21 billion in the year ago period, according to
provisional Reserve Bank of India data. Finance Minister P. Chidambaram said
the CAD for the year will be less than $ 60 billion or 3 per cent of GDP and
the latest data suggests the government may achieve the target.
India was ranked 94th
among the world’s most corrupt nations list. Denmark and New Zealand topped as
the cleanest while Somalia emerged as the most corrupt.
India’s services
sector activity witnessed a moderate improvement in November over the previous
month, even while indicating the fifth successive monthly contraction,
according the HSBC survey.
$53 million
estimated losses suffered by India due to phishing attacks during the third
quarter, according to a study by RSA. India ranks fourth in the list of nations
hit by phishing attacks. The US remained at the top of the charts. Phishing is
the process of acquiring information such as user names, passwords and credit
card details by sending e-mails disguised as official mails.
Rs.4080 million
worth of mobile-phone-based transactions by July 2013 compared to Rs.260
million in September, 2012, according to Deloitte report. The number of
transactions has shot up from 94000 to 701000.
India aims to earn
Rs.400000 million from the bandwidth auction set for January. The merger and
acquisition guidelines, cleared by a group of ministers, will be out before the
auction begins so that players can make informed decisions on the auctions.
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. Tarik Nandolia |
|
Designation : |
Accountant |
|
Contact No.: |
91-22-66987730 |
|
Date : |
30.12.2013 |
LOCATIONS
|
Registered Office : |
76, Level-1, Deewan Centres, V Road, Jogeshwari (West), Mumbai – 400102, Maharashtra, India |
|
Tel. No. : |
91-22-66987730/ 66754448 |
|
Fax No. : |
91-22-66987731 |
|
E-Mail : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
Plot No. 49, Phase – I, G.I.D.C., Vapi – 396195, Gujarat, India |
|
Tel. No. : |
91-260-2427095 |
|
Fax No. : |
91-260-2427095 |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Rashid Ibrahim Nandolia |
|
Designation : |
Director |
|
Address : |
B-307, Mohammed Manzil, Behram Baug Road, Jogeshwari (West), Mumbai – 400102, Maharashtra, India |
|
Date of Birth/Age : |
01.06.1950 |
|
Date of Appointment : |
15.06.1987 |
|
DIN No. : |
02036487 |
|
|
|
|
Name : |
Mr. Usman Ibrahim Nandolia |
|
Designation : |
Director |
|
Address : |
B-204, Pakeeza CHS, Behram Baug Road, Jogeshwari (West), Mumbai – 400102, Maharashtra, India |
|
Date of Birth/Age : |
31.07.1947 |
|
Date of Appointment : |
21.04.2003 |
|
DIN No. : |
02036527 |
|
|
|
|
Name : |
Mr. Rahil Salim Nandolia |
|
Designation : |
Director |
|
Address : |
Unit No.19, Aarey Milk Colony Goregaon (East), Mumbai - 400065, Maharashtra, India |
|
Date of Birth/Age : |
21.06.1979 |
|
Date of Appointment : |
05.09.2001 |
|
DIN No. : |
01060944 |
|
|
|
|
Name : |
Mr. Abdul Rashid Gulamnabi Charolia |
|
Designation : |
Director |
|
Address : |
A-404, Goldensoil CHS Limited, S. V. Road, Jogeshwari (West), Mumbai – 400102, Maharashtra, India |
|
Date of Birth/Age : |
10.05.1954 |
|
Date of Appointment : |
01.04.2005 |
|
DIN No. : |
00267877 |
KEY EXECUTIVES
|
Name : |
Mr. Tarik Nandolia |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Nandolia Rashid |
|
2100 |
|
Nandolia Usman |
|
5000 |
|
Nandolia Rahil |
|
3100 |
|
Nandolia Rafik |
|
6000 |
|
Nandolia Zulekha |
|
4000 |
|
Nandolia Roshan |
|
6000 |
|
Nandolia Amtullah |
|
5000 |
|
Nandolia Amin |
|
3000 |
|
Nandolia Abid |
|
3500 |
|
Nandolia Asif |
|
3000 |
|
Nandolia Imtiyaz |
|
5000 |
|
Nandolia Mohammed |
|
3500 |
|
Nandolia Ismail |
|
3000 |
|
Charolia Abdul |
|
4000 |
|
Charolia Arshad |
|
4000 |
|
Charolia Abdul Rashid |
|
3100 |
|
Nandolia Sajeed |
|
3000 |
|
Nandolia Tarik |
|
3000 |
|
Salema Zaheeda |
|
2000 |
|
Sunasara Nazma |
|
1000 |
|
Charolia Zubeda |
|
4000 |
|
Charolia Shahid |
|
4000 |
|
Charolia Rizwan |
|
4000 |
|
Charolia Tauseef |
|
2000 |
|
Nandolia Nadim |
|
5000 |
|
Charolia Mohammed |
|
5000 |
|
Total |
|
96300 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of various Dyes and Chemicals. |
|
|
|
|
Products : |
· Fast Bordeaux BG Base Fast
Red B Base Fast
Scarlet R Base Ortho
Anisidine Spent
Acetic Acid |
|
|
|
|
Exports : |
|
|
Products : |
Finished Goods |
|
Countries : |
· Germany Japan
|
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
China |
|
|
|
|
Terms : |
|
|
Selling : |
L/C and Credit |
|
|
|
|
Purchasing : |
L/C and Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
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No. of Employees : |
30 (Approximately) |
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Bankers : |
Dena Bank, Bhat Bazar Branch, Prem Bhavan, 234/236 Narshi Natha Street, Mumbai - 400003, Maharashtra, India |
|||||||||||||||
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Facilities : |
NOTE Nature of
securities for Short term borrwings: Secured by hypothecation of all chargeable current assets (comprising of packing materials, stock in process, finished goods etc and receivables) of the company and personal guarantees of directors and collateral security on Factory land and building and construction theron and plant and machinery. |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Satish Nagre Chartered Accountant |
|
Address : |
1, Gurukripa, Nadiadwala Colony No.2, Off. S.V. Road, Malad (West), Mumbai – 400064, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAPN6321M |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100,000 |
Equity Shares |
Rs.100/- each |
Rs. 10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
96,300 |
Equity Shares |
Rs.100/- each |
Rs. 9.630 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 |
9.630 |
9.630 |
0.963 |
|
(b) Reserves & Surplus |
15.278 |
14.859 |
16.335 |
|
(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) |
24.908 |
24.489 |
17.298 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
11.850 |
8.480 |
8.165 |
|
(b) Deferred tax liabilities (Net) |
0.00 |
0.000 |
0.000 |
|
(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) |
11.850 |
8.480 |
8.165 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
4.971 |
4.830 |
1.957 |
|
(b) Trade payables |
32.152 |
28.086 |
37.613 |
|
(c) Other current
liabilities |
0.541 |
0.420 |
1.621 |
|
(d) Short-term provisions |
0.245 |
0.000 |
0.000 |
|
Total Current Liabilities (4) |
37.909 |
33.336 |
41.191 |
|
|
|
|
|
|
TOTAL |
74.667 |
66.305 |
66.654 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
8.529 |
10.618 |
13.059 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.786 |
0.676 |
0.410 |
|
(d) Long-term Loan and Advances |
1.860 |
2.533 |
0.793 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
11.175 |
13.827 |
14.262 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
12.119 |
10.190 |
12.030 |
|
(c) Trade receivables |
35.024 |
37.910 |
34.394 |
|
(d) Cash and cash
equivalents |
13.913 |
3.487 |
3.848 |
|
(e) Short-term loans and
advances |
2.163 |
0.703 |
2.084 |
|
(f) Other current assets |
0.273 |
0.188 |
0.036 |
|
Total Current Assets |
63.492 |
52.478 |
52.392 |
|
|
|
|
|
|
TOTAL |
74.667 |
66.305 |
66.654 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
155.854 |
126.273 |
141.877 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
151.715 |
121.096 |
133.274 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
4.139 |
5.177 |
8.603 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
2.207 |
2.869 |
3.379 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
1.932 |
2.308 |
5.224 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1.512 |
(0.068) |
0.215 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
0.420 |
2.376 |
5.009 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of Goods (F.O.B. Value) |
84.845 |
69.780 |
73.442 |
|
|
TOTAL EARNINGS |
84.845 |
69.780 |
73.442 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
4.36 |
24.77 |
57.80 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.27
|
1.88 |
3.53 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.62
|
3.52 |
7.89 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08
|
0.09 |
0.30 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.68
|
0.54 |
0.59 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.67
|
1.57 |
1.27 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT
MATURITIES OF LONG TERM DEBTS
|
Particulars |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
|
|
|
|
|
|
Current maturities of long term debts |
N.A. |
0.000 |
1.342 |
|
|
|
|
|
|
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 |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
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 |
No |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
90220472 |
10/01/2008 * |
36,000,000.00 |
DENA BANK |
BHAT BAZAR BRANCH, PREM BHAVAN, 234/236 NARSHI NATHA STREET, MUMBAI - 400003, MAHARASHTRA, INDIA |
A34493528 |
|
2 |
90223475 |
21/09/2004 * |
950,000.00 |
DENA BANK |
BHAT BAZAR BRANCH, MUMBAI - 400005, MAHARASHTRA, INDIA |
- |
* Date of charge modification
CORPORATE
INFORMATION
The company is in the Business of Manufacturing of various Dyes and Chemicals
viz. fast Bordeaux BG Base, Fast Red B Base, Fast Scarlet R Base, Ortho
Anisidine and Spent Acetic Acid. The company operates from its registered
office in Mumbai (Maharashtra) and Factory situated at Vapi (Gujarat).
PERFORMANCE REVIEW
During the year, the Company earned the gross income of Rs. 155.854 Millions as against Rs. 126.273 Millions in the previous year. The total expenditure during the year was Rs. 153.922 Millions against Rs. 123.965 Millions in the previous year. The Net profit after tax was Rs. 0.420 Million as against Rs. 2.376 Millions in the previous year.
FUTURE PROSPECTS
The company is confident of very good business in the coming years due improved conditions in domestic consumption as well as in overseas consumption. The company is concentrating its presence in local and international market and confident of achieving the sales target for both local and exports. The company has also undertaken expansion plan to double the manufacturing capacity and in completion stage, improved marketing conditions, both domestic and international market will have a positive impact on the expansion plan.
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Loans and advances from Related Parties |
11.850 |
8.480 |
|
Total |
11.850 |
8.480 |
FIXED ASSETS
· Leasehold Land
Factory
Building
Office
Premises
Staff
Quarters
Plant
and Machinery
Plant
and Machinery (New)
Electrical
Installation
Vehicles
Furniture
and Fixutures
Office
Equipments
computer
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.61.93 |
|
|
1 |
Rs.102.39 |
|
Euro |
1 |
Rs.85.12 |
INFORMATION DETAILS
|
Information Gathered
by : |
PLK |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
|
30 |
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.