MIRA INFORM REPORT

 

 

Report Date :

19.11.2014

 

IDENTIFICATION DETAILS

 

Name :

RAJBHOG FOODS PRIVATE LIMITED

 

 

Registered Office :

B/4, Ravi Park Society, Gayatri Mandir Road, Mahavir Nagar, Himatnagar – 383001, Gujarat

 

 

Country :

India

 

 

Financials (as on) :

31.03.2013

 

 

Date of Incorporation :

02.06.2004

 

 

Com. Reg. No.:

04-044240

 

 

Capital Investment / Paid-up Capital :

Rs. 8.000 Millions

 

 

CIN No.:

[Company Identification No.]

U15499GJ2004PTC044240

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

AHMR02804E

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer and Exporter of Ready to eat food products.

 

 

No. of Employees :

60 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca (13)

 

RATING

STATUS

 

PROPOSED CREDIT LINE

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

 

 

Status :

Moderate

 

 

Payment Behaviour :

Slow

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having moderate track record.

 

The company has incurred huge accumulated loss which has resulted in to fully erosion of networth.

 

However, business is active. Payment terms are reported to be slow.

 

The company can be considered for business dealings on a secured 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 – June 1, 2014

 

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

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

 

N E W S

 

Verdict Implications : Apex court order may alter coal import dynamics. Traders go slow on talks over coal supply contracts, uncertainty over cancellation of blocks weigh on stocks.

 

Recent arrest of the Chennai head of the Registrar of Companies, the ministry of corporate affairs arm that ensures that companies file all the information required by the Companies Act is the latest manifestation of a messy fight between a father and his adopted son for the control of Rs 40000 mn business empire. The Central Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10 lakhs as bribe from M A M Ramaswamy, a CBI official said.

 

Central Bureau of Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.

 

Infosys maintains revenue guidance. COO Rao says attrition still an area of concern and it would take a few more quarters to bring down levels to 13-15 %.

 

DHL to invest Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its e-commerce business model for the Asia-Pacific region.

 

Blackstone may buy stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.

 

Kingfisher Airlines Ltd grounded in October 2012 under the weight of heavy debt and accumulated losses, recently approached the Delhi high court for relief in two separate cases. The airline challenged a notice by Punjab & National Bank alleging that it had willfully defaulted on Rs 7700 mn of loans and sought more time to comply with the requirements under the listing agreements with the Stock Exchanges.

 

OnMobile likely to sack another 300 employees. The lay-offs follow a spate of senior-level exits over the past two years, starting with of its founder. The overall lay-offs could number around 600 and are driven by the need to cut costs, says a former employee.

 

 

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 31-03-2014.

 

 

INFORMATION PARTED BY

 

Name :

Mr. Girish Patel

Designation :

Managing Director

Contact No.:

91-9825994764

Date :

17.11.2014

 

 

LOCATIONS

 

Registered Office :

B/4, Ravi Park Society, Gayatri Mandir Road, Mahavir Nagar, Himatnagar – 383001, Gujarat, India

Tel. No.:

91-2772-226477/ 226391

Mobile No.:

91-9825994764 [Mr. Girish Patel]

Fax No.:

91-2772-226477

E-Mail :

admin@rajbhogfoods.com

rajbhog_foods@yahoo.com

Website :

http://www.rajbhog.com

 

 

Factory :

Plot No. 280, Opposite Sabar Dairy, Talod Road, Hajipur, Himatnagar – 383001, Gujarat, India

 

 

DIRECTORS

 

AS ON 30.09.2013

 

Name :

Mr. Girishbhai Mavjibhai Patel

Designation :

Director

Address :

A/2, Bhavarkaransinhji Park, Mahavir Nagar, Himatnagar, Sabarkantha – 383001, Gujarat, India

Date of Birth/Age :

11.02.1970

Date of Appointment :

02.06.2004

DIN No.:

00483111

Other Directorship :

 

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Company/ LLP Status

Defaulting status

1

U15499GJ2004PTC044240

RAJBHOG FOODS PRIVATE LIMITED

Director

02/06/2004

02/06/2004

Active

NO

2

U15132GJ2010PTC063409

RAJTAZZ FOODS PRIVATE LIMITED

Director

28/12/2010

28/12/2010

Active

NO

 

 

Name :

Mr. Vimal Amrutlal Upadhyay

Designation :

Director

Address :

5, G.E.B. Society, Mahavir Nagar, Himatnagar, Sabarkantha – 383001, Gujarat, India

Date of Birth/Age :

29.03.1974

Date of Appointment :

02.06.2004

DIN No.:

00483089

Other Directorship :

 

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Company/ LLP Status

Defaulting status

1

U15499GJ2004PTC044240

RAJBHOG FOODS PRIVATE LIMITED

Director

02/06/2004

02/06/2004

Active

NO

2

U15132GJ2010PTC063409

RAJTAZZ FOODS PRIVATE LIMITED

Director

28/12/2010

28/12/2010

Active

NO

 

 

Name :

Mr. Ishwarbhai Parshottamdas Patel

Designation :

Director

Address :

32, Laxmi Narayan Society, Gayatri Mandir Road, Mahavir Nagar, Himatnagar, Sabarkantha – 383001, Gujarat, India

Date of Birth/Age :

01.05.1955

Date of Appointment :

02.06.2004

DIN No.:

00483129

 

 

Name :

Mrs. Sushama Chittaldurg

Designation :

Director

Address :

D-9, Ushah’s Apartment, 16th Main, 4th Block, Jayanagar, Bangalore – 560011, Karnataka, India

Date of Birth/Age :

28.11.1952

Date of Appointment :

02.06.2004

DIN No.:

00507539

 

 

Name :

Mr. Mavjibhai Ranchhodbhai Patel

Designation :

Director

Address :

1/2, Bhanwar Karansinhji Park, Near New English High School, Mahavir Nagar, Himatnagar - 383001, Gujarat, India

Date of Birth/Age :

09.06.1945

Date of Appointment :

01.01.2005

DIN No.:

00483141

Other Directorship :

 

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Company/ LLP Status

Defaulting status

1

U24231GJ2002PTC040391

YASH MEDICARE PRIVATE LIMITED

Director

25/01/2002

25/01/2002

Active

NO

2

U15499GJ2004PTC044240

RAJBHOG FOODS PRIVATE LIMITED

Director

01/01/2005

01/01/2005

Active

NO

 

 

Name :

Mr. Arunbhai Patel

Designation :

Director

Address :

10, Laxminarayan Society, Mahavirnagar, Himatnagar, Sabarkantha – 383001, Gujarat, India

Date of Birth/Age :

22.10.1961

Date of Appointment :

01.01.2005

DIN No.:

00483148

 

 

Name :

Mr. Amrutlal Upadhyay

Designation :

Director

Address :

5, G.E.B. Society, Mahavir Nagar, Himatnagar, Sabarkantha – 383001, Gujarat, India

Date of Birth/Age :

01.10.1944

Date of Appointment :

01.01.2005

DIN No.:

00483157

 

 

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

 

Directors or relatives of directors

100.00

 

 

Total

 

100.00

 

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Exporter of Ready to eat food products.

 

 

Brand Names :

--

 

 

Agencies Held :

--

 

 

Exports :

 

Products :

Finished Goods

Countries :

·         USA

·         Canada

·         Australia

·         European Countries

 

 

Imports :

--

 

 

Terms :

 

Selling :

Cash and Credit

 

 

Purchasing :

Cash and Credit

 

 

GENERAL INFORMATION

 

Suppliers :

Reference:

Floater India Private Limited [Noida, Uttar Pradesh]

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Experience:

Not Divulged

Maximum limit dealt:

Not Divulged

 

 

Customers :

Wholesalers, Retailers and End Users

 

Reference:

Anil Limited [Ahmedabad, Gujarat]

Name of the Person (Designation):

Not Divulged

Contact Number:

91-79-22203222

Since how long known:

Not Divulged

Experience:

Not Divulged

Maximum limit dealt:

Not Divulged

 

·         Lotus Export LLC, Australia

 

 

No. of Employees :

60 (Approximately)

 

 

Bankers :

Bank Name:

Bank of India

Branch:

Swastik Society, Swastik Char Rasta, Chimanlal Girdharlal Road, Navrangpura, Ahmedabad, Gujarat, India

Person Name (with Designation):

Mr. Aggarwal [Credit Department]

Contact Number:

91-79-26561984/ 26402935

Name of Account Holder:

Rajbhog Foods Private Limited

Account Number:

Not Divulged

Account Since (Date/ Year of A/c Opening):

16.02.2006

Average Balance Maintained (Optional):

Not Divulged

Credit Facilities Enjoyed (CC/OD/Term Loan):

Cash Credit = Rs. 3.000 Millions

Account Operation:

Satisfactory

Remarks:

Banker gave us positive response about the company. The subject having very good track record for banking transaction.

 

·         Small Industries Development Bank of India

SIDBI Tower, 15, Ashok Marg, Lucknow - 226001, Uttar Pradesh, India

 

·         Punjab National Bank

·         Dena Bank

·         Kotak Mahindra Bank Limited

 

 

Facilities :

 

SECURED LOANS

31.03.2013

(Rs. In Millions)

31.03.2012

(Rs. In Millions)

LONG-TERM BORROWINGS

 

 

Term Loan

SIDBI Bank

[Secured by EM of Factory land and Building of the Company and hypothecated of plant and machinery of the company]

4.170

5.896

SHORT TERM BORROWINGS

 

 

Loans repayable on demand

Bank of India, Ahmedabad

[Secured by hypothecation of stock of raw materials, stock of WIP, finished goods, stores and spares and book debts]

3.272

3.755

Kotak Mahindra

0.724

0.000

 

 

 

Total

 

8.166

9.651

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

K.K. Patel and Associates

Chartered Accountants

Address :

F-51, 2nd Floor, Akash Ganga Complex, Near S.T. Stand, Himatnagar – 383001, Gujarat, India

Tel. No.:

91-2772-240499

Mobile No.:

91-9898044121

E-Mail :

kamleshpatel74@hotmail.com

Income-tax PAN of auditor or auditor's firm :

AGPPP6687D

 

 

Associates/Subsidiaries :

--

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2013

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

800,000

Equity Shares

Rs. 10/- each

Rs. 8.000 Millions

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

800,000

Equity Shares

Rs. 10/- each

Rs. 8.000 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

8.000

8.000

8.000

(b) Reserves & Surplus

(8.190)

(6.218)

(6.084)

(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)

(0.190)

1.782

1.916

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

13.367

12.628

14.866

(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)

13.367

12.628

14.866

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

3.996

3.755

4.116

(b) Trade payables

3.727

3.581

3.101

(c) Other current liabilities

0.009

0.205

0.079

(d) Short-term provisions

0.168

0.294

0.355

Total Current Liabilities (4)

7.900

7.835

7.651

 

 

 

 

TOTAL

21.077

22.245

24.433

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

12.677

13.296

15.181

(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

1.979

2.271

1.516

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

14.656

15.567

16.697

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

1.744

0.994

3.091

(c) Trade receivables

2.078

2.114

2.481

(d) Cash and cash equivalents

0.070

0.828

0.040

(e) Short-term loans and advances

2.529

2.742

2.124

(f) Other current assets

0.000

0.000

0.000

Total Current Assets

6.421

6.678

7.736

 

 

 

 

TOTAL

21.077

22.245

24.433

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2013

31.03.2012

31.03.2011

 

 

 

 

 

 

TURNOVER

0.982

13.559

4.994

 

 

 

 

 

Less

EXPENSES

NA

NA

NA

 

 

 

 

 

Less

PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

0.159

3.641

1.224

 

 

 

 

 

Less

FINANCIAL EXPENSES                                   

1.418

1.571

1.245

 

 

 

 

 

 

PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

(1.259)

2.070

(0.021)

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                    

0.713

2.204

0.983

 

 

 

 

 

 

PROFIT/ (LOSS) BEFORE TAX

(1.972)

(0.134)

(1.004)

 

 

 

 

 

Less

TAX                                                                 

0.000

0.000

0.000

 

 

 

 

 

 

PROFIT/ (LOSS) AFTER TAX

(1.972)

(0.134)

(1.004)

 

 

 

 

 

 

Earnings/ (Loss) Per Share (Rs.)

(2.47)

(0.17)

(1.26)

 

NOTE:

As confirmed by Mr. Girish Patel, company was engaged in Job work of Ready to eat food products but from 2013 company is engaged in Manufacture of Ready to eat products therefore sales for the year 2013 declined.

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2013

31.03.2012

31.03.2011

Return on Total Assets

(PBT/Total Assets}

(%)

(9.36)

(0.60)

(4.11)

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

10.38

(0.08)

(0.52)

 

 

 

 

 

Debt Equity Ratio

(Total Debt/Networth)

 

(91.38)

9.19

9.91

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

0.81

0.85

1.01

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

 

DEBT EQUITY RATIO

 

Particulars

31.03.2011

31.03.2012

31.03.2013

 

(Rs. In Millions)

(Rs. In Millions)

(Rs. In Millions)

Share Capital

8.000

8.000

8.000

Reserves & Surplus

(6.084)

(6.218)

(8.190)

Net worth

1.916

1.782

(0.190)

 

 

 

 

Long-term borrowings

14.866

12.628

13.367

Short term borrowings

4.116

3.755

3.996

Total borrowings

18.982

16.383

17.363

Debt/Equity ratio

9.907

9.194

(91.384)

 

 

 

 

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)

Turnover

4.994

13.559

0.982

 

 

171.506

(92.758)

 

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2011

31.03.2012

31.03.2013

 

(Rs. In Millions)

(Rs. In Millions)

(Rs. In Millions)

Turnover

4.994

13.559

0.982

Profit/ (Loss)

(1.004)

(0.134)

(1.972)

 

(20.10%)

(0.99%)

(200.81%)

 

 

 

 

 

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%

Yes

14]

Estimation for coming financial year

No

15]

Capital in the business

Yes

16]

Details of sister concerns

No

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

80005629

16/02/2006

3,600,000.00

BANK OF INDIA

NAVARANGPURA, AHMEDABAD, GUJARAT - 380009, INDIA

-

 

 

UNSECURED LOANS

 

PARTICULARS

31.03.2013

(Rs. In Millions)

31.03.2012

(Rs. In Millions)

LONG-TERM BORROWINGS

 

 

Loans and advances from related parties

3.233

2.300

Loans from Directors

5.964

4.432

 

 

 

Total

 

9.197

6.732

 

 

OPERATIONS

 

The turnover of the Company during the year decreased Rs. 13.559 Millions as to Rs. 0.982 Millions. During the year the Company incurred net loss of Rs. 1.972 Millions as against net loss of Rs. 0.134 Million in the previous year which was mainly due to reduction in the turnover during the year. Barring unforeseen circumstances, the Directors are hopeful to get better performance in the current year.


FIXED ASSETS:

 

·         Land

·         Industrial Plot

·         Electric Installation

·         Factory and Buildings

·         Office Equipments

·         Furniture and Fixture

·         ETP Construction

·         Dead Stock

·         Laboratory and Equipment

·         Plant and Machinery

·         Vehicles

·         Computers

·         Borewell

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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. 61.83

UK Pound

1

Rs. 96.56

Euro

1

Rs. 77.42

 

 

INFORMATION DETAILS

 

Information Gathered by :

PRT

 

 

Analysis Done by :

DIV

 

 

Report Prepared by :

BVA

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

2

PAID-UP CAPITAL

1~10

3

OPERATING SCALE

1~10

2

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

2

--PROFITABILIRY

1~10

--

--LIQUIDITY

1~10

2

--LEVERAGE

1~10

2

--RESERVES

1~10

--

--CREDIT LINES

1~10

--

--MARGINS

-5~5

--

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

YES

--AFFILIATION

YES/NO

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTERS 

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

13

 

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

 

--

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.