MIRA INFORM REPORT

 

 

Report Date :

11.10.2014

 

IDENTIFICATION DETAILS

 

Name :

MEHTA CAD CAM SYSTEMS PRIVATE LIMITED

 

 

Registered Office :

4 and 5, 2nd Floor, Near Tej Motors, Opposite GNFC Towers, Sarkhej, Gandhinagar Highway, Ahmedabad – 380 054, Gujarat

 

 

Country :

India

 

 

Financials (as on) :

31.03.2013

 

 

Date of Incorporation :

06.06.2000

 

 

Com. Reg. No.:

04-038163

 

 

Capital Investment / Paid-up Capital :

Rs. 3.000 Millions

 

 

CIN No.:

[Company Identification No.]

U72200GJ2000PTC038163

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

AHMM00415C

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer, Exporter and Importer of Highly Effective Machines in the Industry.

 

 

No. of Employees :

450 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (27)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 220000

 

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but Correct

 

 

Litigation :

Not Available

 

 

Comments :

Subject is an established company having moderate track record.

 

The rating is constrained on account of company’s moderate financial risk profile marked by leverage capital structure and loss incurred from operational activities during financial year 2013.

 

However, trade relations are fair. Business is active. Payments are reported to be slow but correct.

 

The company can be considered for business dealing 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 – 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 wilfully 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 DENIED BY

 

Name :

Mr. Diwakar Mishra

Designation :

Marketing Head

Contact No.:

91-79-26840551

Date :

08.10.2014

 

 

LOCATIONS

 

Registered Office :

4 and 5, 2nd Floor, Near Tej Motors, Opposite GNFC Towers, Sarkhej, Gandhinagar Highway, Ahmedabad – 380 054, Gujarat, India

Tel. No.:

91-79-26840551/ 26840552/ 26840553/ 66106010

Mobile No.:

91-9227678044 (Mr. Shailesh Mehta)

Fax No.:

91-79-26840556

E-Mail :

nimeshshahca@yahoo.com

Website :

http://www.mehtaindia.com

Location :

Owned

 

 

Factory :

Located at:

 

  • Ahmedabad, Gujarat, India

 

 

DIRECTORS

 

As on 28.09.2013

 

Name :

Ms. Sangita Shailesh Mehta

Designation :

Director

Address :

B/2, Shauhad Apartment, Near Hinu Colony, Navrangpura, Ahmedabad – 380 015, Gujarat, India

Date of Birth/Age :

13.12.1970

Date of Appointment :

06.06.2000

DIN No.:

00994441

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

Date of cessation

Company/ LLP Status

Defaulting status

1

U72200GJ2000PTC038163

MEHTA CAD CAM SYSTEMS PRIVATE LIMITED

Director

06/06/2000

06/06/2000

-

Active

NO

2

U33111GJ2004PTC043605

SPECTRON LASERS PRIVATE LIMITED

Director

12/02/2004

12/02/2004

-

Active

NO

3

U51109GJ2006PTC049432

DILSE (INDIA)PRIVATE LIMITED

Director

22/11/2006

22/11/2006

-

Active

NO

 

Name :

Mr. Shailesh Narayanchandra Mehta

Designation :

Director

Address :

B/2, Shauhad Apartment, Near Hinu Colony, Navrangpura, Ahmedabad – 380 015, Gujarat, India

Date of Birth/Age :

28.07.1967

Date of Appointment :

06.06.2000

DIN No.:

00994497

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

Date of cessation

Company/ LLP Status

Defaulting status

1

U72200GJ2000PTC038163

MEHTA CAD CAM SYSTEMS PRIVATE LIMITED

Director

06/06/2000

06/06/2000

-

Active

NO

2

U33111GJ2004PTC043605

SPECTRON LASERS PRIVATE LIMITED

Director

12/02/2004

12/02/2004

-

Active

NO

3

U51109GJ2006PTC049432

DILSE (INDIA)PRIVATE LIMITED

Director

22/11/2006

22/11/2006

-

Active

NO

 

 

KEY EXECUTIVES

 

Name :

Mr. Diwakar Mishra

Designation :

Marketing Head

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 28.09.2013

 

Names of Shareholders

 

 

No. of Shares

Sangita S. Mehta

 

98097

Spectron Lasers Private Limited

 

87632

Shailesh N. Mehta

 

54051

Riya Shailesh Mehta

 

44366

Shailesh N. Mehta HUF

 

7300

Raj Shailesh Mehta

 

4500

Zenith Healthcare Limited

 

3845

Jagdishrasad Pannalal Kharakia HUF

 

100

Raman Jain HUF

 

100

Anaro Devi Kharakia

 

1

Anita N. Shah

 

1

Gopi Bajaj

 

1

Om Prakash Teckchand HUF

 

1

Ramchand Bajaj

 

1

Ritesh Kumar Kharakia

 

1

Sanjay Shah

 

1

Cello Finance Corporations

 

1

Kamal Enterprise

 

1

Total

 

300000

 

Equity Share Break up (Percentage of Total Equity)

 

Category

Percentage

Bodies corporate

30.50

Directors or relatives of Directors

69.50

Total

100.00

 

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer, Exporter and Importer of Highly Effective Machines in the Industry.

 

 

Products :
  • Wide Format UV Flat Bed Printer
  • Solvent Inkjet Printer
  • A0 Size Multifunction Printer, Copier and Scanner
  • Large Format Colour Scanner
  • A0 Size Network Plan Printer
  • CNC Engraving and Router Machine
  • CNC Mould Making Machine
  • CNC Other Products
  • GCC Laser Engraver
  • Laser Engraver
  • Laser Cutting System
  • Laser Marking Machine
  • Vinyl Cutting Plotters
  • Flatbed Cutting Plotter
  • Counter Top Tool Engraving and Marking Machine
  • Automatic Etching and Cutting Systems
  • Dreamjet Flatbed Printer
  • Acrylic Forming Machine
  • Vacuum Press Film Covering Machine
  • Sandcarver System
  • Acrylic Polishing Unit

 

 

GENERAL INFORMATION

 

No. of Employees :

450 (Approximately)

 

 

Bankers :
  • Syndicate Bank, Ashram Road Branch, Ashram Road, Ahmedabad – 380 006, Gujarat, India
  • Standard Chartered Bank, Ground Floor, Abhijeet-IV, Near Mithakali Six Roads, Ahmedabad – 380 006, Gujarat, India
  • Kotak Mahindra Bank
  • HDFC Bank
  • Axis Bank

 

 

Facilities :

(Rs. In Millions)

Secured Loan

As on

31.03.2013

As on

31.03.2012

LONG TERM BORROWING

 

 

ICICI Bank Car Loan (Force GJ-27 T1517)

(Secured Against Hypothecation of Car)

0.081

0.208

ICICI Bank Car Loan (Skoda - 9156)

(Secured Against Hypothecation of Car)

0.082

0.270

ICICI Bank Car Loan (Verna-4052)

(Secured Against Hypothecation of Car)

0.044

0.311

Kodak Mahindra Prime Loan New Innova

(Secured Against Hypothecation of Car)

0.514

0.000

Standard Chartered Bank Term Loan

(Secured Against Equitable Mortgage of Office Building and Residential Bungalow and Flat and Plant and Machinery, Plot of Land At Changodar)

19.378

8.221

HDFC Bank Car Loan (Honda)

(Secured Against Hypothecation of Car)

0.000

0.173

HDFC Bank Car Loan (Honda)

(Secured Against Hypothecation of Car)

0.000

0.020

 

 

 

SHORT TERM BORROWING

 

 

Standard Chartered (cash credit)

(Secured Against Equitable Mortgage of Office Building and Residential Bungalow and Flat and Plant and Machinery, Plot of Land At Changodar)

99.931

73.770

Creditor for Buyer Credit

(Secured Against LOU of Bank)

20.814

17.507

Total

140.844

100.480

 

 

 

Banking Relations :

---

 

 

Auditors :

 

Name :

Shaikh and Company

Chartered Accountant

Address :

448, 4th Floor, Sakar – VII, Patang Hotel, Ashram Road, Ahmedabad – 380009, Gujarat, India

PAN No.:

CGYPS1880A

 

 

Associates :

  • Dilse (India) Private Limited
  • Spectro Laser Private Limited
  • Marc India Inc

 

 

Relative of KMP :

Shailesh Mehta HUF

 

 

CAPITAL STRUCTURE

 

As on 28.09.2013

 

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

3.000

(b) Reserves & Surplus

54.237

60.310

57.704

(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)

57.237

63.310

60.704

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

54.994

35.690

17.464

(b) Deferred tax liabilities (Net)

0.000

0.739

0.646

(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)

54.994

36.429

18.110

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

120.745

91.277

65.064

(b) Trade payables

10.581

43.804

41.186

(c) Other current liabilities

71.218

35.455

21.170

(d) Short-term provisions

3.479

11.115

2.162

Total Current Liabilities (4)

206.023

181.651

129.582

 

 

 

 

TOTAL

318.254

281.390

208.396

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

20.733

17.441

15.637

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

60.803

21.854

0.759

(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)

1.826

0.000

0.000

(d)  Long-term Loan and Advances

2.041

2.194

1.859

(e) Other Non-current assets

0.000

0.022

0.114

Total Non-Current Assets

85.403

41.511

18.369

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

120.438

113.859

76.998

(c) Trade receivables

86.497

96.291

98.313

(d) Cash and cash equivalents

9.216

9.696

4.522

(e) Short-term loans and advances

2.986

10.128

10.194

(f) Other current assets

13.714

9.905

0.000

Total Current Assets

232.851

239.879

190.027

 

 

 

 

TOTAL

318.254

281.390

208.396

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2013

31.03.2012

31.03.2011

 

SALES

 

 

 

 

 

Income

484.426

451.839

437.980

 

 

Other Income

1.395

0.692

0.335

 

 

TOTAL                                     (A)

485.821

452.531

438.315

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Materials Consumed

70.964

41.951

 

 

Purchases of Stock-in-Trade

264.058

290.369

 

 

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

7.595

(34.410)

 

 

 

Employees benefits expense

63.584

65.738

 

 

 

Other expenses

69.611

70.491

 

 

 

TOTAL (B)

475.812

434.139

420.847

 

 

 

 

 

Less

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)     (C)

10.009

18.392

17.468

 

 

 

 

 

 

Less

FINANCIAL EXPENSES                                    (D)

16.335

12.231

8.779

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                                       (E)

(6.326)

6.161

8.689

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

2.312

2.110

1.715

 

 

 

 

 

 

PROFIT BEFORE TAX (E-F)                              (G)

(8.638)

4.051

6.974

 

 

 

 

 

Less

TAX                                                                  (H)

(2.565)

1.446

2.401

 

 

 

 

 

 

PROFIT AFTER TAX (G-H)                                (I)

(6.073)

2.605

4.573

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

F.O.B. Value of Exports

4.854

5.995

1.144

 

TOTAL EARNINGS

4.854

 

5.995

1.144

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Raw Materials

36.924

15.405

3.065

 

 

Trading Goods

245.820

276.455

298.064

 

TOTAL IMPORTS

282.744

291.860

301.129

 

 

 

 

 

 

Earnings Per Share (Rs.)

(20.24)

8.69

15.24

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2013

31.03.2012

31.03.2011

PAT / Total Income

(%)

(1.25)

0.58

1.04

 

 

 

 

 

Net Profit Margin

(PBT/Sales)

(%)

(1.78)

0.90

1.59

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

(3.38)

1.56

3.36

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

(0.15)

0.06

0.11

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

3.07

2.01

1.36

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.13

1.32

1.47

 

 

 

 

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

3.000

3.000

3.000

Reserves & Surplus

57.704

60.310

54.237

Net worth

60.704

63.310

57.237

 

 

 

 

long-term borrowings

17.464

35.690

54.994

Short term borrowings

65.064

91.277

120.745

Total borrowings

82.528

126.967

175.739

Debt/Equity ratio

1.360

2.005

3.070

 

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2011

31.03.2012

31.03.2013

 

(Rs. In Millions)

(Rs. In Millions)

(Rs. In Millions)

Sales

437.980

451.839

484.426

 

 

3.164

7.212

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2011

31.03.2012

31.03.2013

 

(Rs. In Millions)

(Rs. In Millions)

(Rs. In Millions)

Sales

437.980

451.839

484.426

Profit

4.573

2.605

(6.073)

 

1.04%

0.58%

(1.25)%

 

 

 

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

No

15]

Capital in the business

Yes

16]

Details of sister concerns

Yes

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

----------------------

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

 

 

UNSECURED LOAN

 

Particulars

As on

31.03.2013

As on

31.03.2012

LONG TERM BORROWING

 

 

Loans and Advance from Relatives

0.900

0.900

Long term borrowing - Other

1.174

1.174

Long term borrowing from Share Holders

32.821

24.413

Total

34.895

26.487

 

 

INDEX OF CHARGES

 

S.No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10177221

21/09/2012 *

226,400,000.00

Standard Chartered Bank

GROUND FLOOR, ABHIJEET IV, NR MITHAKHALI SIX ROAD 
S,, AHMEDABAD, Gujarat - 380006, INDIA

B58340373

2

10177122

14/08/2012 *

220,000,000.00

Standard Chartered Bank

BUSINESS EMPIRE, GYMKHANA ROAD,, RAJKOT, Gujarat 
- 360002, INDIA

B57602922

 

* Date of charge modification

 

 

FIXED ASSETS

 

  • Land and Building
  • Plant and Machinery
  • Furniture and Fixtures
  • Vehicles
  • Computers
  • Office Equipment
  • Electric Fitting

 

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.61.16

UK Pound

1

Rs.98.62

Euro

1

Rs.77.67

 

 

INFORMATION DETAILS

 

Information Gathered by :

PRT

 

 

Analysis Done by :

KAR

 

 

Report Prepared by :

KLS

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

4

PAID-UP CAPITAL

1~10

3

OPERATING SCALE

1~10

4

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

4

--PROFITABILIRY

1~10

--

--LIQUIDITY

1~10

3

--LEVERAGE

1~10

3

--RESERVES

1~10

3

--CREDIT LINES

1~10

3

--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

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

27

 

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.