.
MIRA
INFORM REPORT
|
Report Date : |
28.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
GITS FOOD PRODUCTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Gits House, Hadapsar Industrial
Estate, Pune – 411 013, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
27.07.1994 |
|
|
|
|
Com. Reg. No.: |
11-079891 |
|
|
|
|
Capital
Investment/ Paid-up Capital: |
Rs.7.440 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15443MH1994PTC079891 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMG04022E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Ready to Eat Food Products. |
|
|
|
|
No. of
Employees: |
450 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 444000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well-established company having satisfactory track
record. Management has failed to file the financial after the FY 2011 with the
Government Department. As per available financials of 2011, the overall position appears to
be decent. The rating downgrade also takes into consideration the unavailability
of latest financial statements since FY 2012. However, trade relations are fair. Business is active. Payments terms
are reported as slow but correct. In view of long standing experience of the promoters, the subject can
be considered for business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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 (GENERAL DETAILS)
|
Name : |
Mr. Arvind Kumar |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-20-66496000 |
|
Date : |
25.01.2014 |
LOCATIONS
|
Registered Office : |
Gits House, Hadapsar Industrial
Estate, Pune – 411 013, Maharashtra, India |
|
Tel. No.: |
91-20-66496000 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
Gits House, 18/3, Hadapsar Industrial Estate, Pune – 411 013,
Maharashtra, India |
|
Tel. No.: |
91-20-66496000 |
|
Fax No.: |
91-20-26875993 |
|
|
|
|
Sales Office : |
4th Floor, Balarama, Bandra-Kurla Complex, Bandra (East), Mumbai
– 400 051, Maharashtra, India |
|
Tel. No.: |
91-22-26592525 |
|
Fax No.: |
91-22-26592626 |
|
E-Mail : |
DIRECTORS
AS ON 27.09.2010
|
Name : |
Mr. Mukhtar Akbarally Tejani |
|
Designation : |
Director |
|
Address : |
A/6, Dungursee Park Co-operative Housing Society Limited, 22, Bund
Garden Road, Pune – 411 001, Maharashtra, India |
|
Date of Birth/Age : |
26.05.1950 |
|
Date of Appointment : |
27.07.1994 |
|
DIN No.: |
00150278 |
|
|
|
|
Name : |
Mr. Raju Harji Gilani |
|
Designation : |
Director |
|
Address : |
502, Panju Mahal, B.J. Road, Bandra (West), Mumbai – 400 050,
Maharashtra, India |
|
Date of Birth/Age : |
26.03.1956 |
|
Date of Appointment : |
27.07.1994 |
|
DIN No.: |
00152179 |
|
|
|
|
Name : |
Mr. Akbarally Khan Mohamed Tejani |
|
Designation : |
Director |
|
Address : |
A/3, Vrindavan Park Co-operative Housing Society Limited, Harangi Bagh,
Path C, Pune – 411 001, Maharashtra, India |
|
Date of Birth/Age : |
20.01.1929 |
|
Date of Appointment : |
27.07.194 |
|
DIN No.: |
00152887 |
|
|
|
|
Name : |
Mr. Sahil Raju Gilani |
|
Designation : |
Director |
|
Address : |
502/04, Panju Mahal, B.J. Road, Bandra (West), Mumbai – 400 050,
Maharashtra, India |
|
Date of Birth/Age : |
19.03.1985 |
|
Date of Appointment : |
01.07.2003 |
|
DIN No.: |
01757566 |
KEY EXECUTIVES
|
Name : |
Mr. Arvind Kumar |
|
Designation : |
Accounts Executive |
|
|
|
|
Name : |
Mr. Kundu |
|
Designation : |
Deputy General Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 27.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Mukhtar Akbarally Tejani |
|
186000 |
|
Sahil Raju Gilani |
|
186000 |
|
Akbarally Khan Mohamed Tejani |
|
186000 |
|
Raju Harji Gilani |
|
186000 |
|
Total |
|
744000 |
AS ON 27.09.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Ready to Eat Food Products. |
|
|
|
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Cash and Credit |
|
|
|
|
Purchasing : |
L/C, Cash and Credit |
PRODUCTION STATUS (AS ON 31.03.2011):
Installed Capacity
– 2700 Tons
|
Particulars |
Unit |
Actual
Production |
|
Gulab Jamun |
No. of Packets |
8428806 |
|
Idli |
No. of Packets |
1490846 |
|
Dosai |
No. of Packets |
1094582 |
|
Vadai |
No. of Packets |
662413 |
|
Other Instant Products |
No. of Packets |
7454014 |
GENERAL INFORMATION
|
Customers : |
Retailers and End Users |
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|||||||||||||||
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No. of Employees : |
450 (Approximately) |
|||||||||||||||
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|
|||||||||||||||
|
Bankers : |
Jammu and Kashmir Bank Limited, (Corporate Headquarters), M.A. Road, Srinagar,
Kashmir, Srinagar – 190 001, Jammu and Kashmir, India |
|||||||||||||||
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|
|||||||||||||||
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Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Shroff and Company Chartered Accountants |
|
Address : |
503, Delux Court, 5th Floor, Rao Bahadur BHandarkar Marg,
Mumbai – 400 050, Maharashtra, India |
|
PAN No.: |
AALPS0110J |
CAPITAL STRUCTURE
AS ON 30.09.2011
Authorised Capital : Rs.30.000 millions
Issued, Subscribed & Paid-up Capital : Rs.29.760
millions
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3000000 |
Equity Shares |
Rs.10/-each |
Rs.30.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
744000 |
Equity Shares |
Rs.10/-each |
Rs.7.440 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 |
7.440 |
7.440 |
7.440 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
103.493 |
80.492 |
55.978 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
110.933 |
87.932 |
63.418 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
118.169 |
108.454 |
89.638 |
|
|
2] Unsecured Loans |
9.445 |
6.419 |
4.450 |
|
|
TOTAL BORROWING |
127.614 |
114.873 |
94.088 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
238.547 |
202.805 |
157.506 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
128.995 |
119.166 |
117.450 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
4.002 |
0.002 |
0.002 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
43.107
|
43.682
|
30.267 |
|
|
Sundry Debtors |
60.610
|
38.614
|
30.596 |
|
|
Cash & Bank Balances |
31.224
|
8.180
|
3.827 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
101.722
|
126.365
|
88.304 |
|
Total
Current Assets |
236.663
|
216.841 |
152.994 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
28.940
|
49.445
|
45.647 |
|
|
Other Current Liabilities |
16.447
|
14.185
|
10.467 |
|
|
Provisions |
85.726
|
69.574
|
56.826 |
|
Total
Current Liabilities |
131.113
|
133.204 |
112.940 |
|
|
Net Current Assets |
101.550
|
83.637 |
40.054 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
238.547 |
202.805 |
157.506 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
|
|
|
|
|
Income |
679.626 |
593.451 |
523.288 |
|
|
|
Other Income |
|
|
3.860 |
|
|
|
TOTAL (A) |
679.626 |
593.451 |
527.148 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
498.601 |
302.785 |
|
|
|
Employee Cost |
|
|
42.751 |
|
|
|
Administrative, selling and distribution Expenses |
|
|
106.062 |
|
|
|
TOTAL (B) |
587.169 |
498.601 |
451.598 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
92.457 |
94.850 |
75.550 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
9.006 |
9.130 |
9.543 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
83.451 |
85.720 |
66.007 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
15.723 |
15.847 |
12.921 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
67.728 |
69.873 |
53.086 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
23.612 |
25.126 |
19.694 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
44.116 |
44.747 |
33.392 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
42.831 |
24.498 |
17.923 |
|
|
|
|
|
|
|
|
|
Add |
Deferred
Tax Liability / Assets |
0.467 |
0.318 |
(0.056) |
|
|
|
|
|
|
|
|
|
|
Earlier
year W/back |
0.050 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
NA |
5.000 |
5.000 |
|
|
|
Interim Dividend |
NA |
11.160 |
11.160 |
|
|
|
Tax on Interim Dividend |
NA |
1.897 |
1.897 |
|
|
|
Proposed Dividend |
NA |
7.440 |
7.440 |
|
|
|
Tax on Proposed Dividend |
NA |
1.235 |
1.264 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
42.831 |
24.498 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
260.691 |
226.597 |
208.692 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
59.30 |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
6.49
|
7.54
|
6.33 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA
|
10.14 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
18.53
|
20.79
|
19.63 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.61
|
0.79
|
0.84 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.15
|
1.31
|
1.48 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.81
|
1.63
|
1.35 |
LOCAL AGENCY FURTHER INFORMATION
|
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) |
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 |
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 |
INDEX OF CHARGES:
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
90084528 |
17/09/1996 |
720,000.00 |
THE JAMMU AND
KASHMIR BANK LIMITED |
FORT CHAMBERS;
HOMI MODI CROSS LANE NO:2, AMBALAL OOSHI MARG; FORT, MUMBAI, MAHARASHTRA -
400023, |
- |
|
2 |
90090056 |
04/10/2012 * |
108,500,000.00 |
THE JAMMU AND KASHMIR
BANK LIMITED |
(CORPORATE
HEADQUARTERS), M.A.ROAD, SRINAGAR, KASHMIR, SRINAGAR, JAMMU AND KASHMIR -
190001, INDIA |
B61139291 |
* Date of charge modification
FINANCIAL
PERFORMANCE:
Local Turnover for the year increased by 14.61% (from Rs.359.370 millions during F.Y2009-2010 to Rs.411.874 millions during F.Y 2010-2011)
During the year Export Turnover has increased by substantially by Rs.34.094 Millions (From Rs.225.597 millions during F.Y2009-2010 to Rs.260.691 millions during the F.Y 2010-11) registering a growth of 15.05%
DEPB License Sales increased by Rs.0.711 million as compared to previous year.
The Company has been investing substantial amount in Capital Assets for modernization and up gradation of technology.
Total addition in Capital Assets during the financial year is arrived Rs.25.848 millions out of this Factory Building Rs.21.539 millions.
Interest outgo for the current year has decreased by Rs.0.124 million.
Contribution to employment Cost this year is 53.592 millions as compared to previous year 48.235 millions. This is 7.97% of total turnover. In preceding year this was 8.23%.
Profit (Before depreciation and Tax) is Rs.83.451 millions as compared to Previous year’s Rs.85.721. millions there is slightly dropped in profit as compare to pervious year. It is due to substantially in cost as well as absorption local increased tax in respective state
Provision for Income Tax for the current year is Rs.23.621 millions as compared to previous year 25.125 millions
FUTURE OUTLOOK
A motivated team, new products, better marketing and
distribution, tighter cost and Inventory Control and the burning desire to
capture all profitable market segments.
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixtures
·
Computer
·
Office Equipments
·
Laboratory Equipments
·
Electrical Installations
·
Vehicles
·
Air Conditioner
·
Xerox Machine
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.62.71 |
|
|
1 |
Rs.103.50 |
|
Euro |
1 |
Rs.85.82 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
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 |
4 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
43 |
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.