MIRA INFORM REPORT
|
Report Date : |
25.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
JYOTI PLASTIC WORKS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
90, Bombay Talkies Compound, Malad (West), Mumbai – 400064,
Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
09.10.1989 |
|
|
|
|
Com. Reg. No.: |
11-053825 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 6.200 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25200MH1989PTC053825 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Importer and Exporter of Engineering Plastic Products. |
|
|
|
|
No. of Employees
: |
200 (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 470000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Exist |
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|
|
|
Comments : |
Subject was set up as a proprietorship concern in 1959 and was
reconstituted as a private limited company in 1985. It is an established company
having satisfactory track record. The company possesses an average financial profile marked by
conservative capital structure and moderate networth base. Further, the management has seen a deterioration in its financial
profile on account of decline in cash accruals and increasing working capital
requirements during 2013. The ratings also take into consideration the modest scale of
operations as well as deterioration in its business profile owing to pressure
on net profitability. However, trade relations are fair. Business is active. Payment terms
are reported as usually correct. In view of promoters extensive experience, the company can be
considered for business dealings at 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
State-run banks hired nearly 300000
personnel including more than 94000 officers in the last four years, according
to the Indian Banks Association. A study by trade lobby Assocham in September
2013 indicated that banks would need 800000 people in the next six years. It
estimated that state-run lenders alone would hire 50000 people in 2013/14.
The Competition Commission of
India plans to issue final orders within a broad time-frame of one year in
matters where it decides to carry out detailed investigations. The number of
complaints received by the watchdog which keeps tabs on unfair trade practices
in the marketplace.
The government has detected
custom tax evasion totaling around Rs 37920 mn in 14 states until December.
Maharashtra topped the list of Rs 14190 mn followed by Andhra Pradesh at Rs
8140 mn, Gujarat Rs 5240 mn, Karnataka Rs 1670 mn and Tamilnadu Rs 1610 mn.
Connaught Place in New Delhi
slipped four notches to become the world’s eighth most expensive office
locations. London’s West End is the world’s most expensive office market.
There are 4.072 mn number of
high value spenders under the scanner of the income tax department. The income
tax department has information that they have made cash deposits announcing to
Rs 1 mn or more in their savings bank accounts in the current financial year.
It plans to check potential evasion before the closing of the financial year on
March 31.
Estimated pharmaceutical sales
in the country for 2016 is $ 27 bn. It is 14.4 per cent higher than a year ago.
The life sciences and health care industry is up against challenges such as
quality management, says a recent Deloitte report.
The gross non-performing assets
of listed banks rose 35.2 % to Rs 2.43 lakh crore during the first three months
of the financial year. In absolute terms, the 40 listed banks added Rs 3386
crore to their gross NPAs in nine months with the State Bank of India leading
with the State Bank of India leading with an accretion of Rs 16610 crore.
The inflow of smuggled gold
doubled in 2013 following restrictions to curb the supply from official
channels to contain the current account deficit. China surpassed India in the
demand for gold for the first time in 2013 due to liberalization of gold
trading norms by its local governments.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating = BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk |
|
Date |
09.04.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit risk |
|
Date |
09.04.2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Rashmin |
|
Designation : |
Account Department |
|
Contact No.: |
91-260-3091200 |
|
Date : |
24.03.2014 |
LOCATIONS
|
Registered Office : |
90, Bombay Talkies Compound, Malad (West), Mumbai – 400064,
Maharashtra, India |
|
Tel. No.: |
91-22-28824448 / 33857400 / 28813508 / 28823241 |
|
Fax No.: |
91-22-28820629 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory 1 : |
Pardi Paria Road, Near Paria High School, Dungri, Udwada, Dt. Valsad –
396185, Gujarat, India |
|
Tel. No.: |
91-260-3918200 / 2337237 |
|
|
|
|
Factory 2 : |
Survey No.178/1, 178/1/paiky-1, Bhramdev Industrial Park, Pardi Paria Road,
Village-Khadki, Taluka Pardi, Distict Valsad, Udwada – 396185, Gujarat, India
|
|
|
|
|
Factory 3 : |
Panchal Industrial Area, Bhimpore, Nani Daman. 396210, Union Territory of Daman and Diu, India. |
|
Tel. No.: |
91-260-3918900/ 2221653 |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Raju Daulatrai Desai |
|
Designation : |
Director |
|
Address : |
Flat No.08, Firdosh Building, 8th Floor, 18 Vallabh, Nagar
Society N.S. Road 4, Juhu Scheme, Ville Parle (West), Mumbai – 400056,
Maharashtra, India |
|
Date of Birth/Age : |
26.03.1961 |
|
Date of Appointment : |
15.09.1992 |
|
DIN No.: |
00685168 |
|
|
|
|
Name : |
Mr. Sanjau Daulatrai Desai |
|
Designation : |
Director |
|
Address : |
Devchhaya, 2nd Floor, N.S. Raod, No.5, JVPD Scheme, Ville Parle
(West), Mumbai – 400056, Maharashtra, India |
|
Date of Birth/Age : |
06.06.1964 |
|
Date of Appointment : |
13.05.1991 |
|
DIN No.: |
01553823 |
|
|
|
|
Name : |
Mr. Ashish Daulatrai Desai |
|
Designation : |
Director |
|
Address : |
Room No.4, The Huns CHS Limited, Opposite municipal School, Dawood
Baug Road, Andheri (West), Mumbai – 400058, Maharashtra, India |
|
Date of Birth/Age : |
07.12.1971 |
|
Date of Appointment : |
25.11.2005 |
|
DIN No.: |
02948099 |
KEY EXECUTIVES
|
Name : |
Mr. Rashmin |
|
Designation : |
Account Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Sanju Daulatrai Desai |
|
284800 |
|
Raju Daulatrai Desai |
|
284800 |
|
Neena Raju Desai |
|
25100 |
|
Malini Sanju Desai |
|
25100 |
|
Jaimati D. Desai |
|
200 |
|
Total |
|
620000 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Importer and Exporter of Engineering Plastic Products. |
GENERAL INFORMATION
|
No. of Employees : |
200 (Approximately) |
||||||||||||||||||||||||||||||||||||
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||||||||||||||||||||||||||||||||||||
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Bankers : |
Tel.
No.:91-22-28814040
|
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Facilities : |
(Rs.
In Millions)
|
|
|
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|
Banking
Relations : |
--- |
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|
|
|
Auditors : |
|
|
Name : |
B.L. Dasharda and Associates Chartered Accountants |
|
Address : |
301,Vastubh Apartment, Near Hanurnan Temple, DattaPada Cross Road No.
I, Borivali (East), Mumbai – 400066, Maharashtra, India |
|
PAN No.: |
AAAFB2781M |
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
700000 |
Equity Shares |
Rs.10/- each |
Rs.7.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
620000 |
Equity Shares |
Rs.10/- each |
Rs.6.200 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 |
6.200 |
6.200 |
6.200 |
|
(b) Reserves & Surplus |
113.151 |
124.286 |
112.205 |
|
(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) |
119.351 |
130.486 |
118.405 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
38.958 |
36.750 |
39.378 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.337 |
1.530 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
1.003 |
0.781 |
0.507 |
|
Total Non-current
Liabilities (3) |
39.961 |
37.868 |
41.415 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
57.630 |
16.224 |
12.892 |
|
(b) Trade
payables |
73.165 |
69.455 |
55.344 |
|
(c) Other
current liabilities |
40.508 |
42.255 |
27.601 |
|
(d) Short-term
provisions |
1.677 |
1.589 |
0.819 |
|
Total Current
Liabilities (4) |
172.980 |
129.523 |
96.656 |
|
|
|
|
|
|
TOTAL |
332.292 |
297.877 |
256.476 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
112.137 |
123.237 |
45.811 |
|
(ii)
Intangible Assets |
2.121 |
3.196 |
4.084 |
|
(iii)
Capital work-in-progress |
15.792 |
10.713 |
84.582 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.107 |
0.107 |
0.107 |
|
(c) Deferred tax assets (net) |
5.618 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
41.150 |
26.671 |
24.018 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
176.925 |
163.924 |
158.602 |
|
|
|
|
|
|
(2) Current
assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
42.903 |
21.956 |
18.253 |
|
(c) Trade
receivables |
74.227 |
86.743 |
63.829 |
|
(d) Cash
and cash equivalents |
10.511 |
13.197 |
4.973 |
|
(e) Short-term
loans and advances |
26.667 |
9.507 |
9.247 |
|
(f) Other
current assets |
1.058 |
2.550 |
1.572 |
|
Total
Current Assets |
155.366 |
133.953 |
97.874 |
|
|
|
|
|
|
TOTAL |
332.291 |
297.877 |
256.476 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
|
NA |
302.900 |
|
|
|
Other Income |
|
|
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
NA |
NA |
NA |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
(11.135) |
12.081 |
16.437 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
119.270 |
107.189 |
90.752 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
108.135 |
119.270 |
107.189 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
15.463 |
22.655 |
9.547 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Purchase of Raw Materials |
15.463 |
NA |
NA |
|
|
TOTAL IMPORTS |
15.463 |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(17.96) |
19.49 |
26.51 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.81 |
0.41 |
0.44 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.90 |
1.03 |
1.01 |
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 |
6.200 |
6.200 |
6.200 |
|
Reserves & Surplus |
112.205 |
124.286 |
113.151 |
|
Net
worth |
118.405 |
130.486 |
119.351 |
|
|
|
|
|
|
long-term borrowings |
39.378 |
36.750 |
38.958 |
|
Short term borrowings |
12.892 |
16.224 |
57.630 |
|
Total
borrowings |
52.270 |
52.974 |
96.588 |
|
Debt/Equity
ratio |
0.441 |
0.406 |
0.809 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF
LONG-TERM BORROWINGS
Rs. In Millions
|
Particular |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
Term Loan – SBI |
13.200 |
12.600 |
10.800 |
|
Term Loan – SIDBI |
2.123 |
2.400 |
0.000 |
|
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 one year |
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 |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm / promoter involved in |
Yes |
|
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 |
|
LITIGATION DETAILS |
||||
|
Bench:- Bombay |
||||
|
Lodging No. : |
RPAL/42/2011 |
Failing Date:- |
19/04/2011 |
|
|
Petitioner:- |
THE COMMISSIONER OF CENTERAL EXCISE |
Respondent:- |
M/S. JYOTI PLASTIC WORKS PRIVATE LIMITED |
|
|
Petn.Adv:- |
SUCHITRA KAMBLE (0) |
|
|
|
|
District:- |
MUMBAI |
|||
|
Bench:- |
DIVISION |
Category:- |
REVIEW (APPEAL) |
|
|
Status:- |
Pre-Admitted |
|
|
|
|
Last Date:- |
22/09/2011 |
|||
|
Last Coram:- |
REGISTRAR(OS)/PROTHONOTARY AND SR. MASTER |
|||
|
|
|
|||
|
Act. : |
Central Excise and Salt Act. |
|||
UNSECURED LOAN
Rs. In Millions
|
Particular |
As
on 31.03.2013 |
As
on 31.03.2012 |
|
Long Term
Borrowing |
|
|
|
From Director |
11.050 |
5.650 |
|
From Long term maturies of finance lease obligation |
7.140 |
0.000 |
|
Total |
18.190 |
5.650 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10302691 |
18/08/2011 |
12,000,000.00 |
SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA |
1ST FLOOR, INDRAPRASTHA COMPLEX, BELOW HOTEL, SARVODAY, GUNJAN CHAR RASTA, GIDC, VAPI, GUJARAT - 396195, INDIA |
B18989616 |
|
2 |
90213481 |
13/01/2000 |
203,200.00 |
THE HONGKONG AND SHANGHAI BANKING CORPN. LIMITED |
NETWORK SERVICE CENTRE, SUDAM KALU AHIRE MARG; WORLI, MUMBAI, MAHARASHTRA - 400025, INDIA |
- |
|
3 |
90215650 |
02/11/2013 * |
152,500,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, NEAR CHINCHOLI PHATAK, |
B92708957 |
|
4 |
90215444 |
07/04/1995 |
1,181,000.00 |
STATE BANK OF INDIA |
MALAD (W) BRANCH, BOMBAY, MAHARASHTRA - 400064, INDIA |
- |
* Date of charge modification
FIXED ASSETS
- Factory Building
- Electrical Installation
- Furniture and Fixtures
- Computer
- Office Equipment
- Moulds
- FRP Cabin
- Plant and Machinery
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 records 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] 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.60.70 |
|
|
1 |
Rs.100.11 |
|
Euro |
1 |
Rs.83.81 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
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 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
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.