MIRA INFORM REPORT
|
Report Date : |
14.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
AASTHA NANOCHEM PRIVATE
LIMITED |
|
|
|
|
Registered
Office : |
192, Behind Petrol Pump,
G.I.D.C., Nandesari, Vadodara – 391 340, Gujarat |
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|
Country : |
India |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
05.06.2009 |
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|
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Com. Reg. No.: |
04-057177 |
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Capital
Investment / Paid-up Capital : |
Rs.3.000 millions |
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|
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|
CIN No.: [Company Identification
No.] |
U24239GJ2009PTC057177 |
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|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Trader of Pigments and Chemicals. |
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No. of Employees
: |
9 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 38000 |
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|
Status : |
Satisfactory |
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|
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an
established company having satisfactory track record. Company has
performed well. Overall financial position of the company is decent. Trade relations
are reported to be fair. Business is active. Payments are reported to be
usually correct. The company can
be considered for business dealing 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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
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
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. Milan Rajput |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-9979767294 |
|
Date : |
13.05.2014 |
LOCATIONS
|
Registered Office/ Factory : |
192, Behind Petrol Pump,
G.I.D.C., Nandesari, Vadodara – 391 340, Gujarat, India |
|
Tel. No.: |
91-265-2841110/ 2354882 |
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Mobile No.: |
91-9979767294 (Mr. Milan Rajput) |
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Fax No.: |
91-265-2841110 |
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E-Mail : |
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Website : |
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Location : |
Leased |
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Warehouse/ Branch Office : |
Building
No. C, Gala No.02, Jai Bhagwan
Complex, Behind Choudhary
Compound, Puma, Bhiwandi,
Thane, Maharashtra, India |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Harshad Vallabhbhai Khant |
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Designation : |
Director |
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Address : |
6, Jay Complex, Near
Deluxe Society, Deluxe Char Rasta, Nizampura, Vadodara – 390 002, Gujarat,
India |
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Date of Birth/Age : |
03.09.1975 |
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Date of Appointment : |
05.06.2009 |
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DIN No.: |
02622858 |
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Name : |
Mr. Ranchhoddas Vallabhbhai Khant |
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Designation : |
Director |
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Address : |
B-6, Anant Park Society, Near Shabri School, Vasana Road, Vadodara – 390 015,
Gujarat, India |
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Date of Birth/Age : |
23.10.1963 |
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Date of Appointment : |
05.06.2009 |
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DIN No.: |
02659240 |
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Name : |
Mr. Ratilal Damjibhai Vachhani |
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Designation : |
Director |
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Address : |
49, Girriraj Raj Society, Behind Chhani Jakat Naka, Vadodara – 390 002,
Gujarat, India |
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Date of Birth/Age : |
25.11.1947 |
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Date of Appointment : |
05.06.2009 |
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DIN No.: |
00267830 |
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Other Directorship:
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Name : |
Mr. Girishbhai Damjibhai Vachhani |
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Designation : |
Director |
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Address : |
177/A, Kenya Nager Society, Abhilasha Char Rasta, Vadodara – 390 008,
Gujarat, India |
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Date of Birth/Age : |
04.04.1955 |
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Date of Appointment : |
05.06.2009 |
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DIN No.: |
00267966 |
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Other Directorship:
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KEY EXECUTIVES
|
Name : |
Mr. Milan Rajput |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Harshad Vallabhbhai Khant |
|
119998 |
|
Ratilal Damjibhai Vachhani |
|
29999 |
|
Girishbhai Damjibhai Vachhani |
|
29999 |
|
Ranchhoddas Vallabhbhai Khant |
|
60000 |
|
Sadhnaben Ratilal Vachhani |
|
30000 |
|
Nirupaben Girishbhai Vachhani |
|
30000 |
|
Bharti Harshad Khant |
|
1 |
|
Ranjan Ranchhoddas Khant |
|
1 |
|
Damjibhai Govindbhai Vachhani (HUF) |
|
1 |
|
Rambha Vachhani |
|
1 |
|
Total
|
|
300000 |
AS ON 30.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Trader of Pigments and Chemicals. |
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Products : |
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Imports : |
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Products : |
Iron Oxide Pigment |
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Countries : |
China |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Wholesalers
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No. of Employees : |
9 (Approximately) |
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Bankers : |
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Facilities : |
Cash Credit: Rs.10.000 millions (From State Bank of India, SME Branch)
Notes: LONG
TERM BORROWINGS Nature
of Security : 1) The Term Loan from
State Bank of India (repayable in 60 instalments) is secured by first charge by
way of Equitable Mortgage of Company's Immovable Properties i.e. Land and
Building situated at Block No.192, G.I.D.C., Nandesari, District Vadodara and
another Land and Building situated at First Floor, Jay Complex, Office No.6,
Nizampura, Vadodara and by way of hypothecation of all movable assets, stock
in trade and book debts. This facility is also secured by personal guarantees
of all the Directors of the Company. 2) The Car Loan is
secured by way of hypothecation of the Car. |
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Banking Relations
: |
-- |
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Auditors : |
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|
Name : |
Parikh Shah Chotalia and Associates Chartered Accountants |
|
Address : |
1, Gangotri Appartment, Race Course, Vadodara – 390 007, Gujarat,
India |
|
Tel. No.: |
91-265-2334882/ 2320912 |
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Mobile No.: |
91-9376224944 |
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E-Mail : |
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PAN No.: |
AADFR8971L |
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Associate Concern : |
Aastha Incorporation |
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
300000 |
Equity Shares |
Rs.10/- each |
Rs.3.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
300000 |
Equity Shares |
Rs.10/- each
|
Rs.3.000 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 |
3.000 |
3.000 |
1.000 |
|
(b) Reserves & Surplus |
6.534 |
3.161 |
1.617 |
|
(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) |
9.534 |
6.161 |
2.617 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
11.547 |
12.037 |
5.386 |
|
(b) Deferred tax liabilities (Net) |
0.557 |
0.116 |
0.045 |
|
(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) |
12.104 |
12.153 |
5.431 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
2.947 |
1.558 |
1.927 |
|
(b)
Trade payables |
16.199 |
7.321 |
5.574 |
|
(c)
Other current liabilities |
3.955 |
2.431 |
2.538 |
|
(d)
Short-term provisions |
2.207 |
1.128 |
0.475 |
|
Total
Current Liabilities (4) |
25.308 |
12.438 |
10.514 |
|
|
|
|
|
|
TOTAL |
46.946 |
30.752 |
18.562 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
13.386 |
8.684 |
2.292 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.046 |
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) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
0.032 |
0.000 |
0.000 |
|
(e)
Other Non-current assets |
0.391 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
13.855 |
8.684 |
2.292 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
5.547 |
5.611 |
5.862 |
|
(c)
Trade receivables |
20.111 |
13.373 |
8.790 |
|
(d)
Cash and cash equivalents |
1.210 |
0.237 |
0.234 |
|
(e)
Short-term loans and advances |
6.223 |
2.847 |
1.384 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
33.091 |
22.068 |
16.270 |
|
|
|
|
|
|
TOTAL |
46.946 |
30.752 |
18.562 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
99.059 |
65.390 |
42.580 |
|
|
|
Other Income |
|
|
0.007 |
|
|
|
TOTAL (A) |
99.059 |
65.390 |
42.587 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Materials |
|
|
35.902 |
|
|
|
Manufacturing Expenses |
|
|
0.274 |
|
|
|
Employees Emoluments |
|
|
0.658 |
|
|
|
Selling and Administrative Expenses |
|
|
3.558 |
|
|
|
TOTAL (B) |
93.741 (Including
Interest) |
62.846 (Including
Interest) |
40.392 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
2.195 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST (D) |
|
|
0.574 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
5.318 |
2.544 |
1.621 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.424 |
0.276 |
0.063 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
4.894 |
2.268 |
1.558 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.521 |
0.724 |
0.519 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
3.373 |
1.544 |
1.039 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
3.161 |
1.617 |
0.578 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
6.534 |
3.161 |
1.617 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
11.24 |
5.15 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
3.41
|
2.36 |
2.44 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA |
3.66 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.43
|
7.38 |
8.39 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.51
|
0.37 |
0.60 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.52
|
2.21 |
2.79 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.31
|
1.77 |
1.55 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns.) |
(INR in Mlns.) |
(INR in Mlns.) |
|
Share Capital |
1.000 |
3.000 |
3.000 |
|
Reserves & Surplus |
1.617 |
3.161 |
6.534 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
2.617 |
6.161 |
9.534 |
|
|
|
|
|
|
Long-term borrowings |
5.386 |
12.037 |
11.547 |
|
Short term borrowings |
1.927 |
1.558 |
2.947 |
|
Total borrowings |
7.313 |
13.595 |
14.494 |
|
Debt/Equity ratio |
2.794 |
2.207 |
1.520 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Total Income |
42.587 |
65.390 |
99.059 |
|
|
|
53.545 |
51.490 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Total Income |
42.587 |
65.390 |
99.059 |
|
Profit |
1.039 |
1.544 |
3.373 |
|
|
2.44% |
2.36% |
3.41% |
LOCAL AGENCY FURTHER INFORMATION
|
Check
List by Info Agents |
Available
in Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
|
4) Premises details |
No |
|
5) Type of Business |
Yes |
|
6) Line of Business |
Yes |
|
7) Promoter’s background |
Yes |
|
8) No. of employees |
Yes |
|
9) Name of person contacted |
Yes |
|
10) Designation of contact person |
Yes |
|
11) Turnover of firm for last three years |
Yes |
|
12) Profitability for last three years |
Yes |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
No |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
Yes |
|
17) Major suppliers |
Yes |
|
18) Major customers |
Yes |
|
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 |
10346264 |
13/03/2012 * |
15,000,000.00 |
STATE BANK OF INDIA |
TRIDENT COMPLEX, NEAR
RACE COURSE CIRCLE, VADODARA, GUJARAT - 390007, INDIA |
B36599884 |
* Date of charge modification
|
Unsecured Loans |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
LONG
TERM BORROWINGS |
|
|
|
Loans and Advances from
Related Parties |
|
|
|
From
Directors |
0.000 |
0.469 |
|
From
Shareholders |
7.622 |
11.342 |
|
Total
|
7.622 |
11.811 |
Note:
The
registered office of the company has been shifted from 6, Jay Complex, Near Deluxe Society, Deluxe
Char Rasta, Nizampura, Vadodara – 390 002, Gujarat to the present
address w.e.f. 25.06.2012.
BACKGROUND:
The Company was incorporated on 5th June, 2009 and has its
Registered Office at 192,
Behind Petrol Pump, G.I.D.C., Nandesari, Vadodara – 391 340. The Company is
engaged in the business of manufacturing and trading of chemicals, paints, etc.
FUTURE PROSPECTS:
The Industrial Shed
acquired in GIDC Nandesari, near Vadodara has been now fully operational and
the same has been renovated and new machineries have been purchased and
installed. With this, the entire plant has become modern and fully operational.
The Directors are now hopeful of big expansion in sales as most of the
difficulties which were inhibiting sales have been removed. They are now
concentrating on marketing for the all-round growth of the Company.
FIXED ASSETS:
·
Factory Building
Nandesari
·
Office Building
·
Plant and Machinery
·
Vehicles
·
Computers
·
Office Equipments
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.59.88 |
|
UK Pound |
1 |
Rs.100.98 |
|
Euro |
1 |
Rs.82.40 |
INFORMATION DETAILS
|
Information Gathered
by : |
HNA |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
SMN |
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 |
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 |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
44 |
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.