MIRA INFORM REPORT
|
Report Date : |
04.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
EASTERN POLY CRAFT INDUSTRIES LIMITED |
|
|
|
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Formerly Known
As : |
BALA SHAH INDUSTRIES LIMITED |
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Registered
Office : |
1/1, Vansittarat Row Share Street, Kolkata – 700001, West Bengal |
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Country : |
India |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
02.07.1997 |
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Com. Reg. No.: |
21-084808 |
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|
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Capital
Investment / Paid-up Capital : |
Rs. 33.580
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U20219WB1997PLC084808 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
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Line of Business
: |
Manufacturer of Injection Moulded and Blow Moulded Plastic Containers.
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|
No. of Employees
: |
Not Divulged |
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 380000 |
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|
|
|
Status : |
Satisfactory |
|
|
|
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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 satisfactory track record. External borrowing of the company has increased. However, company has
achieved tremendous growth in its sales and profit in the year 2013. However, trade relations are reported to be fair. Business is active.
Payments are reported to be slow but correct. The company can be considered normal 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 – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
The worst is over for India’s economy with gross domestic product likely
to expand 5 %to 5.5 % this year and more than 6 % in 2015, according to Moody’s
Analytics. Concerns over the rupee and current account deficit are under control,
said the agency. Ratings firm Crisil has forecast 6 % growth for 2014/15 up
from the estimated 4.8 % for 2013/14. Total economic growth,
infrastructure bottlenecks and lack of transparency and consistency in foreign
direct investment policies seem to have taken a toll on India’s attractiveness
as an investment destination, says an Ernst & Young survey. Projects
with FDI component fell 16.4 % across the globe in 2012 from the previous
year. The drop in India was steeper at 21 %. State run carrier Air India
is doling out free tickets to its 24000 employees, even as it expects to incur
a loss of Rs 39000 mn this financial year and has a debt of Rs 350000 mn.
550000 number of jobs generated across India in 2013, a fall of 0.4 % as
compared to with a year earlier. The National Capital Region has a one-fourth
share in total jobs created, according to a study by industry lobby group
Assochem, Banks, real estate, automobile and telecommunications sectors are
showing a rise of job creation. $ 805 mn investments by venture capital firms
in India during 2013, registering a drop of about 18 % over the previous year.
The Information Technology and IT-Enabled Services Industry retained its
status as the favourable venture capital investors in 2013. Pakistan has temporarily
banned gold imports for the second time in six months, as it tries to stem
smuggling into India. India’s import duty on gold is 10 % and curbs on
purchases have dried up legal imports into what used to be the world’s biggest
bullion buyers. The World Gold Council puts the amount smuggled into India at
upto 200 tonnes in 2013. The Reserve Bank of India has proposed that unclaimed
bank deposits estimated to be about Rs 35000 mn be used for education and
awareness among depositors. According to the plan, deposits that have not
been claimed for at least 10 years will be transferred to the scheme.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term Bank facilities : BB- (Suspended) |
|
Rating Explanation |
Inadequate credit quality and high credit
risk. |
|
Date |
November 14, 2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term Bank facilities : A4 (Suspended) |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
November 14, 2013 |
Reason for suspension: Company has not furnished
information required.
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 DECLINED
MANAGEMENT NON-COOPERATIVE
(CONTACT NO.: 91-33-22487191)
LOCATIONS
|
Registered/ Head Office : |
1/1, Vansittarat Row Share Street, Kolkata – 700001, West Bengal,
India |
|
Tel. No.: |
91-33-22487191/ 22484410/ 22483475/ 40069782 |
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Fax No.: |
91-33-22483691 |
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E-Mail : |
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Website : |
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Factory 1 and Works : |
Village Dobapukur, P.O. Bighati, P.S.
Bhadreshwar, Hoogly, West Bengal, India |
|
Tel. No.: |
91-33-30943317/ 26331046 |
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Factory 2 : |
Uluberia Industrial Growth Centre, NH-6, Birshibpur, Uluberia,
Howrah – 711315, West Bengal, India |
|
Tel. No.: |
91-33-26210836 |
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Factory 3 : |
A-49, Industrial Area, Kaharani (Bhiwadi Extension), District Alwar – 301019, Rajasthan, India |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Keshar Chand Padia |
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Designation : |
Director |
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Address : |
87, Southern Avenue, Kolkata -
700029, West Bengal, India |
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Date of Birth/Age : |
29.10.1950 |
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Date of Appointment : |
26.06.1999 |
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DIN No.: |
00014337 |
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Other Directorship :
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Name : |
Mr. Bijay Padia |
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Designation : |
Director |
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Address : |
87, Southern Avenue, Kolkata -
700029, West Bengal, India |
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Date of Birth/Age : |
05.06.1973 |
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Date of Appointment : |
26.06.1999 |
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DIN No.: |
00014347 |
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Other Directorship :
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|
Name : |
Mr. Ajay Padia |
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Designation : |
Director |
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|
Address : |
87, Southern Avenue, Kolkata -
700029, West Bengal, India |
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Date of Birth/Age : |
09.04.1976 |
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Date of Appointment : |
26.06.1999 |
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DIN No.: |
00445373 |
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Other Directorship :
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
NOTE: SHAREHOLDING DETAILS FILE ATTACHED
AS ON 30.09.2013
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Bodies
corporate |
38.10 |
|
Directors
or relatives of directors |
61.90 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Injection Moulded and Blow Moulded Plastic Containers.
|
GENERAL INFORMATION
|
Customers : |
·
Indian Oil
Corporation ·
Tide Water Oil
Company Limited ·
Hindustan
Petroleum ·
Indian Railways ·
Bharat
Petroleum ·
Ordinance
Factory ·
Balmer Lawrie
And Company Limited ·
Shalimar Paints ·
Servo Brand ·
Indian Oil |
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No. of Employees : |
Not Divulged |
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Bankers : |
· Bank of Baroda SME Kasba Branch, 837, Rajdanga Main Road, Kolkata - 700107, West Bengal, India · Bank of Baroda Mid Corporate Branch, 1/1, Camac Street (1st Floor), Kolkata - 700016, West Bengal, India · ICICI Bank Limited |
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Facilities : |
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Banking
Relations : |
-- |
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Financial Institution : |
· Electronica Finance Limited 128/A, Plot No.3, Kailashchandra Apartments, Paud Road, Kothrud,
Pune - 411038, Maharashtra, India |
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Auditors : |
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Name : |
Sawaria Khaitan And Associates Chartered Accountants |
|
Address : |
1/1A, Vansittart Row, Kolkata – 700001, West Bengal, India |
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Tel. No.: |
91-33-22303426/ 22439312 |
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E-Mail : |
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Income-tax
PAN of auditor or auditor's firm : |
AAIFS8727N |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4,100,000 |
Equity Shares |
Rs. 10/- each |
Rs. 41.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3,358,000 |
Equity Shares |
Rs. 10/- each |
Rs. 33.580
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 |
33.580 |
28.330 |
27.945 |
|
(b) Reserves & Surplus |
61.859 |
46.538 |
24.897 |
|
(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) |
95.439 |
74.868 |
52.842 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
239.667 |
128.150 |
89.845 |
|
(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) |
239.667 |
128.150 |
89.845 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
92.561 |
73.138 |
40.550 |
|
(b)
Trade payables |
84.465 |
92.390 |
47.464 |
|
(c)
Other current liabilities |
14.841 |
7.791 |
5.988 |
|
(d)
Short-term provisions |
0.000 |
0.800 |
3.425 |
|
Total
Current Liabilities (4) |
191.867 |
174.119 |
97.427 |
|
|
|
|
|
|
TOTAL |
526.973 |
377.137 |
240.114 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
266.231 |
203.376 |
113.335 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
2.170 |
|
(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 |
4.314 |
4.314 |
3.814 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and
Advances |
3.603 |
3.425 |
1.807 |
|
(e)
Other Non-current assets |
13.273 |
5.517 |
0.904 |
|
Total
Non-Current Assets |
287.421 |
216.632 |
122.030 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
14.656 |
7.826 |
6.753 |
|
(b)
Inventories |
92.442 |
45.712 |
46.298 |
|
(c)
Trade receivables |
85.815 |
56.292 |
37.076 |
|
(d)
Cash and cash equivalents |
33.763 |
42.013 |
21.932 |
|
(e)
Short-term loans and advances |
12.876 |
8.662 |
6.025 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
239.552 |
160.505 |
118.084 |
|
|
|
|
|
|
TOTAL |
526.973 |
377.137 |
240.114 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
487.234 |
325.869 |
243.066 |
|
|
|
Other Income |
5.551 |
4.953 |
5.014 |
|
|
|
TOTAL (A) |
492.785 |
330.822 |
248.080 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
307.175 |
207.824 |
178.824 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(25.352) |
1.810 |
(26.568) |
|
|
|
Employees benefits expense |
20.195 |
9.100 |
5.650 |
|
|
|
Other expenses |
124.040 |
73.767 |
61.318 |
|
|
|
TOTAL (B) |
426.058 |
292.501 |
219.224 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
66.727 |
38.321 |
28.856 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
32.050 |
21.800 |
13.747 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
34.677 |
16.521 |
15.109 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
26.656 |
12.475 |
12.065 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
8.021 |
4.046 |
3.044 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.050 |
1.270 |
0.951 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
7.971 |
2.776 |
2.093 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.37 |
0.98 |
0.75 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.62
|
0.84 |
0.84 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.65
|
1.24 |
1.25 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.53
|
1.09 |
1.29 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08
|
0.05 |
0.06 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
3.48
|
2.69 |
2.47 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.25
|
0.92 |
1.21 |
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 |
27.945 |
28.330 |
33.580 |
|
Reserves & Surplus |
24.897 |
46.538 |
61.859 |
|
Net
worth |
52.842 |
74.868 |
95.439 |
|
|
|
|
|
|
long-term borrowings |
89.845 |
128.150 |
239.667 |
|
Short term borrowings |
40.550 |
73.138 |
92.561 |
|
Total
borrowings |
130.395 |
201.288 |
332.228 |
|
Debt/Equity
ratio |
2.468 |
2.689 |
3.481 |
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) |
|
Sales |
243.066 |
325.869 |
487.234 |
|
|
|
34.066 |
49.518 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
in Millions) |
(Rs.
in Millions) |
(Rs.
in Millions) |
|
Sales |
243.066 |
325.869 |
487.234 |
|
Profit |
2.093 |
2.776 |
7.971 |
|
|
0.86% |
0.85% |
1.64% |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
No |
|
10] |
Designation of contact
person |
No |
|
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 |
Yes |
|
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10445037 |
21/08/2013 |
4,504,064.00 |
ELECTRONICA FINANCE LIMITED |
128/A, PLOT NO.3, KAILASHCHANDRA APPARTMENTS, PAUD ROAD, KOTHRUD, PUNE - 411038, MAHARASHTRA, INDIA |
B83058172 |
|
2 |
10381139 |
19/09/2012 |
87,000,000.00 |
BANK OF BARODA |
SME KASBA BRANCH, 837, RAJDANGA MAIN ROAD, KOLKATA - 700107, WEST BENGAL, INDIA |
B59931790 |
|
3 |
90245609 |
24/09/2013 * |
342,000,000.00 |
BANK OF BARODA |
MID CORPORATE BRANCH, 1/1, CAMAC STREET (1ST FLOOR), KOLKATA - 700016, WEST BENGAL, INDIA |
B86038098 |
* Date of charge modification
UNSECURED LOANS
|
UNSECURED LOANS |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG-TERM BORROWINGS |
|
|
|
From Companies |
74.682 |
28.328 |
|
From Others |
8.660 |
5.055 |
|
|
|
|
|
Total |
83.342 |
33.383 |
FIXED ASSETS:
· Factory Building
· Air Conditioner
· Electric Equipment
· Electric Installation
· Generator
· Office Equipments
· Plant and Machinery
· Testing Equipments
· Tube Well
· Furniture and Fixture
· Vehicles
· Computer
· Land
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. 61.86 |
|
|
1 |
Rs. 103.52 |
|
Euro |
1 |
Rs. 85.31 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Report Prepared
by : |
BVA |
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 |
5 |
|
--LIQUIDITY |
1~10 |
4 |
|
--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 |
|
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.