MIRA
INFORM REPORT
|
Report Date : |
24.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
C J S SPECIALTY CHEMICALS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
105, Bajaj Bhavan, Nariman Point, Mumbai-400021, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
12.09.2008 |
|
|
|
|
Com. Reg. No.: |
11-186710 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.100 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24110MH2008PTC186710 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMC16346B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCC4791N |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Importer and Distributor of Speciality Chemicals. |
|
|
|
|
No. of Employees
: |
15 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 349500 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. The company possesses
a favourable financial profile marked by modest networth position during
2013. It seems that the management undertakes small scale of operations. The ratings also take into consideration the working capital intensive
operations along with exposure to inventory and foreign exchange risks. However, trade relations are fair. Business is active. Payment terms
are reported as slow but correct. In view of strong financial and managerial support from its promoters,
the subject can be considered for business dealings with some caution. |
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 |
|
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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
A3+ [Short Term] |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
04.02.2014 |
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. Kartik |
|
Designation : |
Admin Department |
|
Contact No.: |
91-22-67826969 |
LOCATIONS
|
Registered Office : |
105, Bajaj Bhavan, Nariman Point, Mumbai-400021, |
|
Tel. No.: |
91-22-67826969 |
|
Mobile No.: |
91-9820443008 (Mr. Ashish Shah) |
|
Fax No.: |
91-22-67826999/ 22852529/ 22028716 |
|
E-Mail : |
|
|
Location : |
Owned |
|
|
|
|
Warehouse : |
Located at :
|
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Ashish Prakash Shah |
|
Designation : |
Director |
|
Address : |
Flat No. D-24, |
|
Date of Birth/Age : |
02.08.1978 |
|
Date of Appointment : |
12.09.2008 |
|
DIN No.: |
00675159 |
|
|
|
|
Name : |
Mr. Dharmesh Kishan Mange |
|
Designation : |
Director |
|
Address : |
11/160, Sindhi Society, Chembur, Mumbai-400071, |
|
Date of Birth/Age : |
02.06.1980 |
|
Date of Appointment : |
12.09.2008 |
|
DIN No.: |
00675179 |
|
|
|
|
Name : |
Mr. Ashit Mahesh Shah |
|
Designation : |
Director |
|
Address : |
1403, |
|
Date of Birth/Age : |
07.12.1973 |
|
Date of Appointment : |
12.09.2008 |
|
DIN No.: |
02007618 |
|
|
|
|
Name : |
Mr. Apurva Mahesh Shah |
|
Designation : |
Director |
|
Address : |
1403, |
|
Date of Birth/Age : |
17.07.1971 |
|
Date of Appointment : |
12.09.2008 |
|
DIN No.: |
02007622 |
KEY EXECUTIVES
|
Name : |
Mr. Kartik |
|
Designation : |
Admin Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Apurva Mahesh Shah |
3600 |
36.00 |
|
Ashit Mahesh Shah |
2400 |
24.00 |
|
Ashish Prakash Shah |
2000 |
20.00 |
|
Dharmesh Kishan Mange |
2000 |
20.00 |
|
|
|
|
|
TOTAL
|
10000 |
100.00 |
AS ON 30.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Importer and Distributor of Speciality Chemicals. |
|
|
|
|
Imports : |
|
|
Products : |
Speciality Chemicals |
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit / Depend |
GENERAL INFORMATION
|
Suppliers : |
Invista |
|
|
|
|
Customers : |
End Uses ·
Shalimar |
|
|
|
|
No. of Employees : |
15 [Approximately] |
|
|
|
|
Bankers : |
|
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Rajendra and Company Chartered Accountant |
|
Address : |
1311 |
|
Tel. No.: |
91-22-22855770 |
|
Fax No.: |
91-22-22834243 |
|
E-Mail : |
|
|
PAN No: |
AAAFR1878D |
|
|
|
|
Associates/Subsidiaries : |
·
C J Shah and
Company Address: 105, Bajaj Bhavan,
Nariman Point, Mumbai-400021, Maharashtra, India Activity: Trader of
Chemical. ·
Ashit
Enterprises Address: 105, Bajaj
Bhavan, Nariman Point, Mumbai-400021, Maharashtra, India |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs.10/- each
|
Rs.0.100
Million |
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 |
0.100 |
0.100 |
0.100 |
|
(b) Reserves & Surplus |
87.296 |
60.005 |
38.252 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
87.396 |
60.105 |
38.352 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.120 |
0.107 |
0.077 |
|
(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) |
0.120 |
0.107 |
0.077 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
211.603 |
168.493 |
161.941 |
|
(b)
Trade payables |
278.689 |
129.131 |
88.110 |
|
(c)
Other current liabilities |
15.530 |
4.940 |
3.260 |
|
(d) Short-term
provisions |
44.512 |
31.082 |
20.157 |
|
Total Current
Liabilities (4) |
550.334 |
333.646 |
273.468 |
|
|
|
|
|
|
TOTAL |
637.850 |
393.858 |
311.897 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
3.988 |
4.039 |
3.638 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
3.988 |
4.039 |
3.638 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
275.249 |
171.247 |
130.343 |
|
(c)
Trade receivables |
260.937 |
155.110 |
143.147 |
|
(d) Cash
and cash equivalents |
49.998 |
27.404 |
11.602 |
|
(e)
Short-term loans and advances |
47.678 |
36.058 |
23.167 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
633.862 |
389.819 |
308.259 |
|
|
|
|
|
|
TOTAL |
637.850 |
393.858 |
311.897 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
866.855 |
717.595 |
542.217 |
|
|
|
Other Income |
5.279 |
0.638 |
0.000 |
|
|
|
TOTAL (A) |
872.134 |
718.233 |
542.217 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase of Stock in Trade |
|
662.479 |
498.603 |
|
|
|
Employee Benefit Expenses |
|
16.785 |
13.509 |
|
|
|
Other Expenses |
800.611 |
26.215 |
13.479 |
|
|
|
Changes in Inventories of Stock in Trade |
|
(40.904) |
(35.747) |
|
|
|
TOTAL (B) |
800.611 |
664.575 |
489.844 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
71.523 |
53.658 |
52.373 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
30.312 |
20.547 |
11.990 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
41.211 |
33.111 |
40.383 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.477 |
0.402 |
0.260 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
40.734 |
32.709 |
40.123 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
13.443 |
10.955 |
13.588 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
27.291 |
21.754 |
26.535 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
22.760 |
1.000 |
1.652 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
2729.07 |
2175.36 |
2653.49 |
|
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover [Approximately] |
|
|
1100.000 |
The above information has been parted by Mr. Kartik.
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
3.13
|
3.03 |
4.89 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.70
|
4.55 |
7.40 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.39
|
8.30 |
12.86 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.47
|
0.54 |
1.05 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.42
|
2.80 |
4.22 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.15
|
1.17 |
1.13 |
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 |
0.100 |
0.100 |
0.100 |
|
Reserves & Surplus |
38.252 |
60.005 |
87.296 |
|
Net
worth |
38.352 |
60.105 |
87.396 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
161.941 |
168.493 |
211.603 |
|
Total
borrowings |
161.941 |
168.493 |
211.603 |
|
Debt/Equity
ratio |
4.222 |
2.803 |
2.421 |
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) |
|
Sales |
542.217 |
717.595 |
866.855 |
|
|
|
32.345 |
20.800 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Sales |
542.217 |
717.595 |
866.855 |
|
Profit |
26.535 |
21.754 |
27.291 |
|
|
4.89% |
3.03% |
3.15% |
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 |
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 |
Yes |
|
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] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
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 |
10319295 |
04/11/2011 |
110,000,000.00 |
STANDARD CHARTERED BANK |
CRESCENZO, 3A/F PLOT NO.
C-38 & 39, G-BLOCK, BANDRA KURLA COMPLEX, MUMBAI - 400051, MAHARASHTRA,
INDIA |
B25904657 |
PERFORMANCE:
The company has achieved growth during the last
financial year. The company achieved profit of Rs.27.291 Millions during the
year under report as against Rs.21.754 Millions during the previous year,
representing an increase of approximately 25.30% of last year’s turnover.
However, it is sad to note the company was not above to increase its profit
after tax mainly because of financial cost.
FUTURE OUTLOOK:
Companies’ expansion cum modernization
project, considering expected future increase in domestic off take and
strengthening of export is underway. This will improve the performance in the
forthcoming year. The current economic scenario may however affect the results
in short term.
|
Unsecured Loan |
As
on 31.03.2013 [Rs.
in Millions] |
As
on 31.03.2012 [Rs.
in Millions] |
|
Short Term Borrowings
|
|
|
|
Loans From
Related Parties |
|
|
|
Loans From a Firm* [* Loan from a firm rate of interest as at 31.03.2013 @ 20.14% p.a.] |
207.478 |
168.493 |
|
Loans From a Directors ** [** Loan from a director rate of interest as at 31.03.2013 @ 14.00%
p.a.] |
4.125 |
0.000 |
|
TOTAL
|
211.603 |
168.493 |
FIXED ASSETS:
·
Air Conditioner
·
Computers
·
Furniture and Fixtures
·
Motor Cars
·
Printers
·
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 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] 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.58.48 |
|
|
1 |
Rs.98.67 |
|
Euro |
1 |
Rs.79.81 |
INFORMATION DETAILS
|
Information Gathered
by : |
PDT |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
32 |
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.