MIRA
INFORM REPORT
|
Report Date : |
14.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
VISHAKHA POLYFAB PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. 549/2, Village Vadsar
Taluka Kalol, District Gandhinagar, Vadsar-382721, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of Incorporation
: |
29.12.1993 |
|
|
|
|
Com. Reg. No.: |
04-020968 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 52.900 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17110GJ1993PTC020968 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
AHMV00284E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACV6439R |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Exporter and Importer of Plastic high barrier Flexible Packaging. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1000000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. There appears sharp dip in profit of the company during the financial
year 2013. However, the ratings continue to derive comfort from the established
operations marked by strong business association and sound general financial
profile. Trade relations are fair. Business is active. Payment terms are
reported to be slow but 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
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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term Bank facility = BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk |
|
Date |
28.03.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term Bank facility = A3 |
|
Rating Explanation |
Moderate degree of safety and high credit risk |
|
Date |
28.03.2013 |
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. Chandresh Shah |
|
Designation : |
Manager Finance Department |
|
Contact No.: |
91-9909930960 |
|
Date : |
10.01.2014 |
LOCATIONS
|
Registered Office / Factory / Admin / International Business
Division : |
Plot No. 549/2, Village Vadsar Taluka
Kalol, District Gandhinagar, Vadsar-382721, |
|
Tel. No.: |
91-2764-281048 / 581 / 582 |
|
Mobile No.: |
91-9909930960 (Mr. Chandresh Shah) |
|
Fax No.: |
91-2764-281795 / 64281735 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Marketing Head Office : |
Vishakha House, Ashirwad Paras Corporate House, Corporate
Road, Prahladnagar, Ahmedabad- 380015, Gujarat |
|
Tel. No.: |
91-79-61907373 |
|
Fax No.: |
91-79-61907340 |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Jigish Nagindas Doshi |
|
Designation : |
Director |
|
Address : |
6, Shrusht Bunglows, Ashwamegh, 4B Extn 132 Ring Road, Satellite,
Ahmedabad-380015, Gujarat, India |
|
Date of Birth/Age : |
17.01.1961 |
|
Date of Appointment : |
10.12.1999 |
|
DIN No.: |
00380192 |
|
PAN No.: |
AAAFJ5281G |
|
Voter ID No.: |
LBR8527038 |
|
|
|
|
Name : |
Mr. Bhadresh Nagindas Doshi |
|
Designation : |
Director |
|
Address : |
26, Shrusht Bunglows, Ashwamegh, 4B Extn 132 Ring Road, Satellite,
Ahmedabad-380015, Gujarat, India |
|
Date of Birth/Age : |
08.02.1956 |
|
Date of Appointment : |
08.06.2000 |
|
DIN No.: |
00380239 |
|
PAN No.: |
AAJPD6032C |
|
Voter ID No.: |
ZCU2604320 |
|
|
|
|
Name : |
Mr. Kamal Daulalji Moondra |
|
Designation : |
Director |
|
Address : |
22, Kaushalya Bunglows, Ramdevnagar, Ahmedabad, |
|
Date of Birth/Age : |
05.05.1958 |
|
Date of Appointment : |
06.01.2001 |
|
DIN No.: |
00019671 |
|
Voter ID No.: |
LBR4878351 |
|
|
|
|
Name : |
Mr. Jayesh Hasmukhlal Shah |
|
Designation : |
Director |
|
Address : |
2, Adesh Flats, 14, Dharnidhar Society, Near Dharnidhar Derasar,
Vanna, Ahmedabad - 380007, Gujarat, India
|
|
Date of Birth/Age : |
04.10.1965 |
|
Date of Appointment : |
19.07.2010 |
|
DIN No.: |
03085675 |
|
Voter ID No.: |
GJ/11/068/516223 |
KEY EXECUTIVES
|
Name : |
Mr. Chandresh Shah |
|
Designation : |
Manager Finance Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Jigish Doshi |
|
2010199 |
|
Bgadresh Doshi |
|
357125 |
|
Umesh Doshi |
|
277175 |
|
Jigish Nagindas Doshi (Nominee of M/s. Labdhi International ) |
|
500 |
|
Adani Wilmar Limited, India |
|
2645000 |
|
Jigish Nagindas Doshi (Nominee of Vishakha industries ) |
|
1 |
|
Total |
|
5290000 |
As on 02.12.2013
|
Names of Allottee |
|
No. of Shares
Allotted |
|
Adani Wilmar Limited, India |
|
648150 |
|
Jigish Doshi |
|
492594 |
|
Bgadresh Doshi |
|
37803 |
|
Umesh Doshi |
|
117753 |
|
Total |
|
1296300 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
50.00 |
|
Directors or relatives of Directors |
50.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of Plastic high barrier Flexible
Packaging. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
Customers : |
|
|||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||
|
No. of Employees : |
Information declined by the management |
|||||||||||||||||||||||||||
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Bankers : |
|
|||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Auditors : |
|
|
Name : |
Dharmesh Parikh and Company Chartered Accountants |
|
Address : |
303 / 304, Milestone , Near Drive in Cinema, Opposite, T. |
|
PAN No. : |
AAGFD1279G |
|
|
|
|
Associates : (As on 31.03.2012) |
CIN No.
U24130GJ2011PTC064073
CIN No. U15146GJ1999PLC035320
CIN No. U15142GJ2002PLC066005 CIN No. U74999GJ2008PTC0660066
CIN No. U85110GJ1995PLC067038
CIN No. U15143MP1998PTC013182 ·
Doshi Marketing ·
Vishakha Irrigation Private Limited, ·
Vishakha Industries ·
Jigish Marketing |
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7000000 |
Equity Shares |
Rs.10/- each |
Rs.70.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6586300 |
Equity Shares |
Rs.10/- each |
Rs.65.863 Millions |
|
|
|
|
|
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7000000 |
Equity Shares |
Rs.10/- each |
Rs.70.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5290000 |
Equity Shares |
Rs.10/- each |
Rs.52.900 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 |
52.900 |
52.900 |
49.200 |
|
(b) Reserves & Surplus |
216.863 |
211.307 |
183.478 |
|
(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) |
269.763 |
264.207 |
232.678 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
257.792 |
260.637 |
292.487 |
|
(b) Deferred tax liabilities (Net) |
22.125 |
21.553 |
23.071 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
3.623 |
0.000 |
|
Total Non-current Liabilities (3) |
279.917 |
285.813 |
315.558 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
352.821 |
278.748 |
170.228 |
|
(b) Trade payables |
380.601 |
353.119 |
179.283 |
|
(c) Other current
liabilities |
85.155 |
75.683 |
108.607 |
|
(d) Short-term provisions |
0.000 |
0.614 |
5.081 |
|
Total Current Liabilities (4) |
818.577 |
708.164 |
463.199 |
|
|
|
|
|
|
TOTAL |
1368.257 |
1258.184 |
1011.435 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
454.607 |
413.589 |
410.489 |
|
(ii) Intangible Assets |
0.111 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
85.785 |
9.194 |
|
(iv)
Intangible assets under development |
1.611 |
0.824 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
11.854 |
11.316 |
22.087 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
468.183 |
511.514 |
441.770 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
377.726 |
380.238 |
277.044 |
|
(c) Trade receivables |
327.574 |
226.608 |
209.959 |
|
(d) Cash and cash
equivalents |
20.946 |
27.033 |
28.365 |
|
(e) Short-term loans and
advances |
130.190 |
86.318 |
45.420 |
|
(f) Other current assets |
43.638 |
26.473 |
8.877 |
|
Total Current Assets |
900.074 |
746.670 |
569.665 |
|
|
|
|
|
|
TOTAL |
1368.257 |
1258.184 |
1011.435 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1374.905 |
1087.077 |
876.601 |
|
|
|
Other Income |
19.673 |
12.751 |
10.589 |
|
|
|
TOTAL (A) |
1394.578 |
1099.828 |
887.190 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Material Consumed |
1021.944 |
|
|
|
|
|
Purchase of Stock in Trade |
41.249 |
33.845 |
|
|
|
|
Changes in Inventories of Finished Goods and Stock in-Process and
Stock in Trade |
(81.705) |
(92.112) |
765.441 |
|
|
|
Employee Benefits Expenses |
50.164 |
39.708 |
|
|
|
|
Other Expenses |
202.997 |
162.080 |
|
|
|
|
TOTAL (B) |
1234.649 |
938.893 |
765.441 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
159.929 |
160.935 |
121.749 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
82.397 |
85.152 |
41.466 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
77.532 |
75.783 |
80.283 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
71.257 |
61.137 |
55.464 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
6.275 |
14.646 |
24.819 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.719 |
2.482 |
8.771 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
5.556 |
12.164 |
16.048 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
59.447 |
57.898 |
53.571 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
NA |
10.000 |
10.000 |
|
|
|
Dividend |
NA |
0.529 |
1.476 |
|
|
|
Tax on Dividend |
NA |
0.086 |
0.245 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
59.447 |
57.898 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
NA |
83.262 |
|
|
TOTAL EARNINGS |
NA |
NA |
83.262 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
NA |
394.358 |
|
|
|
Capital Goods |
NA |
NA |
5.167 |
|
|
TOTAL IMPORTS |
NA |
NA |
399.525 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.05 |
2.42 |
3.44 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.40
|
1.11
|
1.81 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.46
|
1.35
|
2.83 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.46
|
1.25
|
2.48 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02
|
0.05
|
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.26
|
2.04
|
1.99 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.10
|
1.05
|
1.23 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF
LONG-TERM DEBT
Rs. In Millions
|
Particular |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
Current maturities of long-term debt |
NA |
51.667 |
34.703 |
|
|
|
|
|
|
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 |
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 |
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 |
---------------------- |
|
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
Yes |
|
34] |
External Agency Rating, if available |
Yes |
UNSECURED LOAN
Rs.
In Millions
|
Particular |
As
on 31.03.2013 |
As
on 31.03.2012 |
|
Long Term
Borrowing |
|
|
|
Other external commercial
borrowings |
NA |
68.343 |
|
Loans and advance from related parties |
NA |
112.122 |
|
Total |
NA |
180.465 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1. |
10076837 |
29/12/2012 |
779,700,000.00 |
STATE BANK OF |
Commercial Branch, Paramsiddhi Complex, |
B65777062 |
* Date of charge modification
FIXED ASSETS
- Freehold land
- Computer
- Plant and
machinery
- Electrical
Installation
- Furniture
- Office
Equipments
- Vehicles
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.61.52 |
|
|
1 |
Rs.101.48 |
|
Euro |
1 |
Rs.84.11 |
INFORMATION DETAILS
|
Information Gathered
by : |
PDT |
|
|
|
|
Report Prepared
by : |
NTH |
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 |
3 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
42 |
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.