MIRA
INFORM REPORT
|
Report Date : |
30.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
GITANJALI CHEMICALS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Madhukunj Ground Floor, Shankar Ghanekar Marg, Prabhadevi, Mumbai
-400025, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
15.03.1980 |
|
|
|
|
Com. Reg. No.: |
11-022341 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 7.200 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24110MH1980PTC022341 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMG08395C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACG1427G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Organic Industrial Chemicals. |
|
|
|
|
No. of Employees
: |
100 (Approximately) |
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 340000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. Management has seen a significant dip in its sales revenue as well as net
profitability during 2013. The rating also take into consideration the significant deterioration
in the cash balance recorded during the year under review. However, trade relations are fair. Business is active. Payment terms
are reported as slow but correct. The company 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.
INDIAN ECONOMIC OVERVIEW
The services sector, the largest contributor to India’s GDP, contracted
for the sixth consecutive month in December, as orders dipped. However, hiring
has risen. Direct tax collections rose 12.3 % during the April – December
period of the current financial year. The government has decided to
retain 100 per cent foreign direct investment in both greenfield (new) and
brown field (existing) pharmaceutical companies, despite concerns over genetic
drugs going out of production, if multi-national companies take over domestic
ones. In M&A deals, a non compete clause would not be allowed, except in
special circumstances. The Department of Industrial Policy and Promotion plans
to release the next edition of its consolidated foreign direct investment
policy document on March 31, incorporating changes made in the past year. DIPP
compiles all policies related to India’s FDI regime into a single document to
make it easy for investors to understand. 185 million estimated number of
mobile internet users in India by June 2014, according to a report by the
Internet & Mobile Association of India and IMRB International. India
had 110 million mobile internet users with 25 million in rural areas. $3.77 tn
estimated global IT spending in 2014, according to research firm Gartner Inc.
The growth forecast for this year is cut to 3.1 %from the earlier estimate of
3.5 %. The spending growth forecast for telecom services – a segment that
accounts for more than 40 % at total IT spending – from 1.9 per cent to 1.2 per
cent is the main reason for this overall IT cut. A Reserve Bank of India
committee has recommended setting up a special category of lenders who would
cater to small businesses and households, to expand the number of customers
with access to banking services. These banks would focus onproviding payment
services and deposit products. Indian banks want the free use of
automated teller machines to be capped at five transactions in a month
including that of the bank in which the account is active. This follows state
government order to banks to install security guards at ATM booths after a
woman banker was assaulted in Bangalore. The government is likely to present a
vote on Account in mid-February. The annual Economic Survey will be tabled
later in Parliament along with the full Budget. A full Budget for 2014/15 is
likely to be present in July by the new government formed after the General
Election. The government will soon launch an internet spy system, called Netra,
to detect malafide messages. Security agency will deploy the system to capture
dubious voice traffic on applications such as Skype and Google Talk, as well as
tweeters.
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. Pawan Kumar |
|
Designation : |
Account Executive |
|
Contact No.: |
91-22-24320921 |
|
Date : |
28.01.2014 |
LOCATIONS
|
Registered Office : |
Madhukunj Ground Floor, Shankar Ghanekar Marg, Prabhadevi, Mumbai -400025,
Maharashtra, India |
|
Tel. No.: |
91-22-24320921/ 22/ 23/ 43555888 |
|
Fax No.: |
91-22-24320924 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
6000 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Factory : |
F-35, MIDC Area, Jalgaon - 425003, Maharashtra, India |
|
Tel. No.: |
91-257-2210041/ 2212027 |
|
Area : |
7 acres |
|
Location : |
Owned |
DIRECTORS
As on: 30.09.2013
|
Name : |
Mr. Surendra Kumar Mohatta |
|
Designation : |
Director |
|
Address : |
31, Lotus Court, 14, J Tata Road, Churchgate, Mumbai - 400020,
Maharashtra, India |
|
Date of Birth/Age : |
01.09.1955 |
|
Date of Appointment : |
28.11.2009 |
|
DIN No.: |
00388893 |
|
|
|
|
Name : |
Mrs. Madhu Surendra Mohatta |
|
Designation : |
Director |
|
Address : |
31, Lotus Court, 14, J Tata Road, Churchgate, Mumbai - 400020,
Maharashtra, India |
|
Date of Birth/Age : |
18.10.1956 |
|
Date of Appointment : |
01.01.2012 |
|
DIN No.: |
00544078 |
|
|
|
|
Name : |
Mrs. Ishita Mohatta |
|
Designation : |
Director |
|
Address : |
31, Lotus Court, 14, J Tata Road, Churchgate, Mumbai - 400020,
Maharashtra, India |
|
Date of Appointment : |
03.10.2008 |
|
DIN No.: |
01835174 |
|
|
|
|
Name : |
Mr. Pawankumar Deora |
|
Designation : |
Additional Director |
|
Address : |
B-501 Ackruti Creations, Sir P.M. Road Extension, Pramanik Co-Operative
Housing Society Limited, Vile Parle East, Mumbai - 400057, Maharashtra,
India |
|
Date of Birth/Age : |
20.01.1959 |
|
Date of Appointment : |
30.04.2010 |
|
DIN No.: |
03175269 |
KEY EXECUTIVES
|
Name : |
Mr. Pawan Kumar |
|
Designation : |
Account Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
|
|
7000 |
|
Surendra Kumar Mohatta |
|
7000 |
|
Madhu Mohatta |
|
6985 |
|
Vimladevi Mohatta |
|
7000 |
|
Girdharilal Mohatta |
|
4000 |
|
Satyawatidevi Mohatta |
|
1000 |
|
|
|
7000 |
|
Surendra Kumar Mohatta HUF |
|
7000 |
|
Gaurav Mohatta |
|
7000 |
|
Gaurav Chenicals (India) Private Limited, India |
|
400 |
|
Surendra Kumar Mohatta |
|
7000 |
|
Surendra Kumar Mohatta |
|
6240 |
|
Gaurav Surendra Kumar Mohat - Huf |
|
4360 |
|
Om Hari Halan – Huf |
|
15 |
|
|
|
|
|
Total |
|
72000 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2013
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
0.56 |
|
Directors or relatives of directors |
|
55.53 |
|
Other top fifty shareholders |
|
43.91 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Organic Industrial Chemicals. |
|
|
|
|
Exports : |
|
|
Products : |
·
Finished Goods |
|
Countries : |
·
European Countries ·
Japan |
|
|
|
|
Terms : |
|
|
Selling : |
Credit |
|
|
|
|
Purchasing : |
L/C and Credit |
GENERAL INFORMATION
|
Customers : |
End Users and Others |
|||||||||||||||
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|
|||||||||||||||
|
No. of Employees : |
100 (Approximately) |
|||||||||||||||
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|
|||||||||||||||
|
Bankers : |
· Canara Bank, Shishu Mandir Building, 12, G. S. Lane, Parel, Mumbai - 400012, Maharashtra, India · Industrial Development Bank of India Limited, Silver Apartment, Shankar Ghanekar Marg, Prabhadevi, Mumbai - 400028, Maharashtra, India · The United Western Bank Limited, Fort Branch, Mumbai - 400001, Maharashtra, India |
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
M. Saboo and Company Chartered Accountants |
|
Address : |
002/D-9, Yogi Nagar, Eksar Road, Borivali (West), Mumbai - 400091,
Maharashtra, India |
|
Tel. No.: |
91-22-28980943/ 28983624 |
|
PAN No.: |
AKMPS8826N |
|
|
|
|
Sister Concern : |
Name: Benzo Chem
Industries Private Limited Address : Jalgaon,
Maharashtra, India |
CAPITAL STRUCTURE
As on: 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000 |
Equity Shares |
Rs.100/- each |
Rs. 20.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
72000 |
Equity Shares |
Rs.100/- each |
Rs. 7.200
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 |
7.200 |
7.200 |
7.200 |
|
(b) Reserves & Surplus |
79.955 |
76.205 |
69.400 |
|
(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) |
87.155 |
83.405 |
76.600 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
45.551 |
71.010 |
85.605 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
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) |
45.551 |
71.010 |
85.605 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short term borrowings |
20.029 |
22.986 |
27.209 |
|
(b) Trade payables |
21.779 |
17.882 |
28.716 |
|
(c) Other current liabilities |
7.593 |
11.390 |
7.253 |
|
(d) Short-term provisions |
26.903 |
27.210 |
21.817 |
|
Total Current Liabilities (4) |
76.304 |
79.468 |
84.995 |
|
|
|
|
|
|
TOTAL |
209.010 |
233.883 |
247.200 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
74.331 |
77.187 |
82.845 |
|
(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) |
1.773 |
1.362 |
1.514 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
76.104 |
78.549 |
84.359 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
7.982 |
10.707 |
13.206 |
|
(b) Inventories |
37.865 |
35.568 |
29.590 |
|
(c) Trade receivables |
44.662 |
65.035 |
76.622 |
|
(d) Cash and cash equivalents |
0.634 |
3.668 |
4.200 |
|
(e) Short-term loans and advances |
41.763 |
40.356 |
39.195 |
|
(f) Other current assets |
0.000 |
0.000 |
0.028 |
|
Total Current Assets |
132.906 |
155.334 |
162.841 |
|
|
|
|
|
|
TOTAL |
209.010 |
233.883 |
247.200 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
355.418 |
316.536 |
|
|
|
Other Income |
|
1.053 |
1.933 |
|
|
|
TOTAL (A) |
264.951 |
356.471 |
318.469 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases |
|
|
0.173 |
|
|
|
Raw Material Consumed |
|
|
189.669 |
|
|
|
Manufacturing Expenses |
|
|
30.631 |
|
|
|
Employee's Cost |
|
|
16.724 |
|
|
|
Other Expenses |
|
|
43.933 |
|
|
|
Preliminary Expenses |
|
|
0.031 |
|
|
|
Increase/(Decrease) in Stocks |
|
|
7.403 |
|
|
|
TOTAL (B) |
245.799 |
318.579 |
288.564 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
19.152 |
37.892 |
29.905 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
6.865 |
14.475 |
11.511 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
12.287 |
23.417 |
18.394 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
7.582 |
9.317 |
10.095 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
4.705 |
14.100 |
8.299 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.788 |
5.621 |
2.123 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
3.917 |
8.479 |
6.176 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
21.797 |
19.992 |
20.495 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
1.000 |
5.000 |
5.000 |
|
|
|
Dividend |
0.144 |
1.440 |
1.440 |
|
|
|
Tax on Dividend |
0.023 |
0.233 |
0.239 |
|
|
BALANCE CARRIED
TO THE B/S |
24.547 |
21.797 |
19.992 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
174.939 |
214.970 |
202.134 |
|
|
TOTAL EARNINGS |
174.939 |
214.970 |
202.134 |
|
|
|
|
|
|
|
|
|
|
CIF VALUE OF
IMPORTS |
60.645 |
50.933 |
36.095 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
73.60 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.48 |
2.38 |
1.93 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.00 |
3.97 |
2.62 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.28 |
6.06 |
3.38 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05 |
0.17 |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.75 |
1.12 |
1.47 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.74 |
1.96 |
1.91 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS: 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 |
Yes |
|
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 |
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 |
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
As on 31.03.2013 |
As on 31.03.2012 |
|
Long term
borrowings |
|
|
|
Shareholders and directors |
45.551 |
71.010 |
|
|
|
|
|
Total |
45.551 |
71.010 |
PERFORMANCE
During the year, the sales turnover of the company has achieved a
turnover of Rs. 264.951 Millions as compared to Rs. 356.471 Millions in the
previous year. The company has tied up with various overseas customers and new
markets for the export of the products. The production at the Jalgaon unit was
satisfactory during the year. The profit after tax during the year was Rs.3.917
Millions as compared to Rs.8.479 Millions in the previous year.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10175601 |
13/06/2011 * |
91,000,000.00 |
CANARA BANK |
SHISHU MANDIR BUILDING, 12, G. S. LANE, PAREL, MUMBAI, MAHARASHTRA - 400012, INDIA |
B16840936 |
* Date of charge modification
FIXED ASSETS:
·
·
Advance for Office at
Fort
·
·
Main Plant and Machinery
·
Miscellaneous Plant and
Machinery
·
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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. 62.20 |
|
|
1 |
Rs. 103.11 |
|
Euro |
1 |
Rs. 84.97 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Report Prepared
by : |
DPH |
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 |
4 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
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 |
|
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 |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.