MIRA INFORM REPORT
|
Report Date : |
05.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
K V AROCHEM
PRIVATE LIMITED |
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Registered
Office : |
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Country : |
India |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
01.08.1978 |
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Com. Reg. No.: |
11-020545 |
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Capital
Investment / Paid-up Capital : |
Rs.5.000 Millions |
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CIN No.: [Company Identification
No.] |
U24110MH1978PTC020545 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMK11130A |
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PAN No.: [Permanent Account No.] |
AAACK2243A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exported of Aroma Chemicals. |
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No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 483000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. The company has incurred a loss from its operations during 2013. However, trade relations are reported to be fair. Business is active.
Payment terms are reported to be slow but correct. The company can be considered for business dealing with some cautions.
|
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
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects
positive impact of the election cycle.
India’s economy may
grow 4.7 % in the current financial year, lower than the official estimate of
4.9 %, Fitch Rating said. The global rating agency expects the economy to pick
up in the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1
million Indian tourists in 2012), Thailand (one million), the United Arab
Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred
holidays hotspots for Indians. The total figure is expected to increase to 1.93
million by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
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. B. A. Kokje |
|
Designation : |
General Manager |
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Contact No.: |
91-22-21677700 |
|
Date : |
04.05.2014 |
LOCATIONS
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Registered Office / Export & Import Department : |
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Tel. No.: |
91-22-22069609 / 2201 9130 / 9198 |
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Fax No.: |
91-22-22081204 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Corporate Office : |
Lal Bahadur Shastri Marg, Near Balrajeshwar Temple, Mulund
(West), Mumbai – 400080, Maharashtra, India |
||
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Tel. No.: |
91-22-2164 9163-69 |
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Fax No.: |
91-22-2164 9160 (Purchase Department) 91-22-2164 9161 (Marketing Department) |
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Factory 1 : |
170-175, GIDC Industrial Estate, Vapi – 396 195, |
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Tel. No.: |
91-260-2420799 / 2638-220949 / 220699 |
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Fax No.: |
91-2638-230499 |
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Area : |
28 Acres |
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Location : |
Owned |
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Factory 2 : |
Plot Nos. 322/10, GIDC Industrial Estate, Vapi - 396 195, Dist.
Bulsar, |
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Factory 3 : |
Vashivali, S. No. 12 - 5,6, and S. No. 30 - 34 & 36, Village Vashivali - Vadgaon, Near Patalganga, Dist. – Raigad - 410 220, Maharashtra, India |
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Tel. No.: |
91-2192-2506 28 30 / 2504 52 3 |
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Fax No.: |
91-2192-2527 53 |
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Sales Office : |
Devkaran Mansion, 51/53 Shamaldas Gandhi Marg, Mumbai – 400002, Maharashtra, India |
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Tel. No.: |
91-22-2201 9130/98 |
DIRECTORS
As on 24.09.2013
|
Name : |
Mr. Ramesh Vinayak Vaze |
|
Designation : |
Director |
|
Address : |
S H Kelkar and Company Private Limited, LBS Marg, Mulund (West),
Mumbai – 400080, Maharashtra, India |
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Date of Birth/Age : |
30.04.1941 |
|
Date of Appointment : |
20.11.1980 |
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DIN No.: |
00509751 |
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Name : |
Ms. Prabha Ramesh Vaze |
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Designation : |
Director |
|
Address : |
S H Kelkar and Company Private Limited, Bal Rajeshwar Road, Mulund
(West), Mumbai – 400080, Maharashtra, India
|
|
Date of Birth/Age : |
19.06.1946 |
|
Date of Appointment : |
27.08.2010 |
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DIN No.: |
00509817 |
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|
|
Name : |
Mr. Kedar Ramesh Vaze |
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Designation : |
Director |
|
Address : |
S H Kelkar and Company Private Limited, Bal Rajeshwar Road, Mulund (West),
Mumbai – 400080, Maharashtra, India |
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Date of Birth/Age : |
12.11.1973 |
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Date of Appointment : |
19.09.2001 |
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DIN No.: |
00511325 |
KEY EXECUTIVES
|
Name : |
Mr. B. A. Kokje |
|
Designation : |
General Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 24.09.2013
|
Names of Shareholders |
No. of Shares |
|
S H Kelkar and Company Private Limited, India |
49999 |
|
Ramesh Vinayak Vaze – Nominee of S. H. Kelkar and Company Private
Limited, India |
1 |
|
|
|
|
Total |
50000 |
As on 28.03.2014
|
Names of Shareholders |
No. of Shares |
|
S H Kelkar and Company Private Limited, India |
20800 |
|
|
|
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Total |
20800 |
As on 24.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exported of Aroma Chemicals. |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
Singapore |
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Terms : |
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Selling : |
L/C and Credit |
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Purchasing : |
L/C and Credit |
GENERAL INFORMATION
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Customers : |
End Users |
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No. of Employees : |
150 (Approximately) |
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Bankers : |
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Facilities : |
NOTE: *
Working capital demand loan from bank carries interest @ Base rate + 450
basis points and is secured by hypothecation of stock in trade, primary
charge on book debts and plant and machinery of the company, secondary charge
on Immovable assets including Equitable mortgage of the property loacted at
Plot No 170 to 175, GIDC, Industrial Estate, Vapi, Gujrat State. The loan is
also secured by personal guarantees of Promoters / Directors and corporate
guarantee of S.H. Kelkar and Company Private Limited, holding company. |
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Banking
Relations : |
-- |
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Financial Institution : |
SBICAP Trustee Company Limited, 6th Floor, Apeejay House, Dinsha Wachha Road, Churchgate, Mumbai - 400020, Maharashtra, India |
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Auditors : |
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Name : |
Batliboi and Purohit Chartered Accountants |
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Address : |
National Insurance Building, 204, DN Road, Fort, Mumbai – 400001, Maharashtra, India |
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PAN
No. : |
AAAFB0915F |
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Associates/Subsidiaries : |
Kelkar Group of Companies |
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Fellow Subsidiaries : |
Keva Flavours Private Limited Keva Fragrances Private Limited PFW Aroma Chemicals BV |
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Holding Company : |
S H Kelkar and Company Private Limited |
CAPITAL STRUCTURE
After 24.09.2013
Authorised Capital : Rs. 10.000 Millions
Issued, Subscribed & Paid-up Capital : Rs. 7.080
Millions
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
50000 |
Equity Shares |
Rs.100/- each |
Rs.5.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
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|
50000 |
Equity Shares |
Rs.100/- each |
Rs.5.000 Millions |
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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 |
|
|
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|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
5.000 |
5.000 |
5.000 |
|
(b) Reserves & Surplus |
115.700 |
182.066 |
167.526 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
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|
|
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(2)
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
120.700 |
187.066 |
172.526 |
|
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(3) Non-Current Liabilities |
|
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|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(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 |
9.069 |
10.707 |
8.914 |
|
Total Non-current
Liabilities (3) |
9.069 |
10.707 |
8.914 |
|
|
|
|
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(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
100.000 |
60.000 |
0.000 |
|
(b) Trade
payables |
106.921 |
109.787 |
204.524 |
|
(c) Other
current liabilities |
157.584 |
123.325 |
14.061 |
|
(d) Short-term
provisions |
1.089 |
0.324 |
0.970 |
|
Total Current
Liabilities (4) |
365.594 |
293.436 |
219.555 |
|
|
|
|
|
|
TOTAL |
495.363 |
491.209 |
400.995 |
|
|
|
|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
85.791 |
92.983 |
91.930 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
28.652 |
2.241 |
2.801 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.013 |
0.013 |
0.013 |
|
(c) Deferred tax assets (net) |
34.389 |
1.911 |
1.205 |
|
(d) Long-term Loan and Advances |
11.835 |
7.922 |
5.807 |
|
(e) Other Non-current
assets |
0.000 |
0.369 |
0.156 |
|
Total Non-Current
Assets |
160.680 |
105.439 |
101.912 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
179.411 |
231.519 |
195.917 |
|
(c) Trade
receivables |
106.475 |
97.479 |
70.356 |
|
(d) Cash
and cash equivalents |
3.197 |
18.054 |
9.205 |
|
(e)
Short-term loans and advances |
45.052 |
38.431 |
23.458 |
|
(f) Other
current assets |
0.548 |
0.287 |
0.147 |
|
Total
Current Assets |
334.683 |
385.770 |
299.083 |
|
|
|
|
|
|
TOTAL |
495.363 |
491.209 |
400.995 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Total Revenue |
385.300 |
456.700 |
391.406 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
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TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
||
|
|
|
TOTAL |
NA |
NA |
385.313 |
|
|
|
|
|
|
|
|
|
EBITDA |
(31.500) |
28.200 |
28.882 |
|
|
|
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|
|
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|
|
|
EBITDA % |
(75.200) |
59.600 |
0.786 |
|
|
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|
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|
PROFIT BEFORE TAX & EXCEPTIONAL ITEMS |
(62.000) |
2.400 |
6.092 |
|
|
|
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|
|
|
|
|
|
EXCEPTIONAL ITEMS |
(22.600) |
15.200 |
0.000 |
|
|
|
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|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
(84.600) |
17.600 |
6.092 |
|
|
|
|
|
|
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|
|
TAX |
(27.700) |
3.100 |
1.055 |
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|
PROFIT/
(LOSS) AFTER TAX |
(56.900) |
14.500 |
5.037 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
79.800 |
131.400 |
93.022 |
|
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|
|
|
|
|
|
|
VALUE OF IMPORT |
161.096 |
140.039 |
93.022 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(1138.000) |
290.000 |
100.74 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(19.57) |
3.61 |
1.53 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.70) |
0.09 |
0.04 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.83 |
0.32 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.92 |
1.31 |
1.36 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
5.000 |
5.000 |
5.000 |
|
Reserves & Surplus |
167.526 |
182.066 |
115.700 |
|
Net
worth |
172.526 |
187.066 |
120.700 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
60.000 |
100.000 |
|
Total
borrowings |
0.000 |
60.000 |
100.000 |
|
Debt/Equity
ratio |
0.000 |
0.321 |
0.829 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Revenue |
391.406 |
456.700 |
385.300 |
|
|
|
16.682 |
(15.634) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Revenue |
391.406 |
456.700 |
385.300 |
|
Profit |
5.037 |
14.500 |
(56.900) |
|
|
1.29% |
3.17% |
(14.77%) |
LOCAL AGENCY FURTHER INFORMATION
NOTE: Current
Maturities of Long Term Debts is 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 |
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 |
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 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10432009 |
03/09/2013 * |
333,570,000.00 |
SBICAP TRUSTEE COMPANY LIMITED |
6th Floor, Apeejay House, Dinsha Wachha Road, Churchgate, MUMBAI,
Maharashtra - 400020, INDIA |
B85503894 |
|
2 |
10293957 |
01/11/2012 * |
150,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra
- 400013, INDIA |
B62505656 |
* Date of charge modification
FINANCIAL RESULTS AND
REVIEW
The Company had to face several adverse issues during the Financial Year 2013-14 which affected its performance. The production process was intermittent due to issue beyond the Company’s control. Added to this, the Company, as a part of re-organisation process, declared a Voluntary Retirement Scheme which resulted in further diminution of the profits of the Company. The Company also revamped its inventory policy and receivables policy during the year. These one-off factors had a negative impact on Profit before Tax by Rs. 35.800 millions
The Board has taken several measures in order to improve the revenues and profits of the Company for the years to come. The Company has embarked on an ambitious project to invest more than Rs. 300.000 millions in Multi-Purpose Plant which will cater to both domestic and export customers. The project is expected to be completed by the end of Financial Year 2013-14 and is expected to substantially improve the market share, profitability and growth of the Company.
FIXED ASSETS
œ Freehold Land
œ Leasehold Land
œ Factory Building and Sheds
œ Residential Flats
œ Plant and Equipments
œ Furniture and Fixtures
œ Motor Cars and 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.59.34 |
|
|
1 |
Rs.99.18 |
|
Euro |
1 |
Rs.80.76 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
29 |
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.