MIRA
INFORM REPORT
|
Report Date : |
26.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
PHULCHAND EXPORTS PRIVATE LIMITED (w.e.f 23.11.2009) |
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Formerly Known
As : |
PHULCHAND EXPORTS LIMITED |
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Registered
Office : |
Nirlon House, 4th Floor, 254-B, |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
06.09.1983 |
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Com. Reg. No.: |
11-30776 |
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Capital
Investment / Paid-up Capital : |
Rs.39.558 Millions |
|
|
|
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CIN No.: [Company Identification
No.] |
U51900MH1983PTC030776 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMP15745C |
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PAN No.: [Permanent Account No.] |
AAACP2529C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader of Agricultural Products, Commodities, Metals and Minerals,
Apparels and Cotton Yarn. |
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No. of Employees
: |
25 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 2100000 |
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|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a moderate track record. Profitability of the company seems to be low during 2013. The rating also takes into consideration customer concentration risk
and exposure to adverse movement in commodity prices. However, trade relations are reported as fair. Business is active.
Payment terms are slow but correct. The company 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 – 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 |
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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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank facilities: B |
|
Rating Explanation |
Have high risk of default |
|
Date |
03.06.2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities: A4 |
|
Rating Explanation |
Have minimal degree of safety and carry very high credit risk. |
|
Date |
03.06.2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Ram Mansukhani |
|
Designation : |
AGM Finance |
|
Contact No.: |
91-22-42319900 |
|
Date : |
26.09.2014 |
LOCATIONS
|
Registered Office : |
Nirlon House, 4th Floor, 254-B, |
|
Tel. No.: |
91-22-42319900 |
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Fax No.: |
91-22-42319950 |
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E-Mail : |
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Website : |
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Corporate Office : |
67, Bajaj Bhavan, Nariman Point, Mumbai-400 021, |
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Tel. No.: |
91-22-22866100/6110/6120 |
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Fax No.: |
91-22-22873377 |
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E-Mail : |
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Warehouse: |
Patel Warehouse, Oppsoite Steel Market, Kalamboli, Mumbai,
Maharashtra, India |
DIRECTORS
As on 16.09.2013
|
Name : |
Mr. Phulchand Ramgopal Agarwal |
|
Designation : |
Director |
|
Address : |
Plot No. 4, Villa B Pochkhanwala Road Near Godrej Tower, Worli, Sea
Face Worli, Mumbai – 400030, Maharashtra, India |
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Date of Birth/Age : |
20.09.1930 |
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Date of Appointment : |
06.09.1983 |
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DIN No.: |
00026741 |
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|
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Name : |
Mr. Sundeep Agarwal |
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Designation : |
Additional director |
|
Address : |
C/201, Ambika Towers, Pump House Rajmataji Jabai Chowk, Andheri East, greater,
Mumbai – 400093, Maharashtra, India |
|
Date of Birth/Age : |
02.07.1974 |
|
Date of Appointment : |
01.04.2013 |
|
DIN No.: |
03168111 |
KEY EXECUTIVES
|
Name : |
Mr. Ram Mansukhani |
|
Designation : |
AGM Finance |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 16.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Phulchand Agarwal |
|
2755754 |
|
Phulchand Agarwal (on behalf of Anjani Commercial Corporation) |
|
1199994 |
|
GN Agarwal |
|
1 |
|
Rakesh Jain |
|
1 |
|
Total |
|
3955750 |
Equity Share Break up (Percentage of Total Equity)
As on 16.09.2013
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Agricultural Products, Commodities, Metals and Minerals,
Apparels and Cotton Yarn. |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
·
China ·
Poland ·
US |
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Imports : |
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Products : |
Finish Goods |
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Countries : |
UAE |
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Terms : |
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Selling : |
Cash and Credit, Cheque |
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Purchasing : |
Cash and Credit, Cheque |
GENERAL INFORMATION
|
Customers : |
·
Wholesalers ·
Retailers |
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No. of Employees : |
25 (Approximately) |
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Bankers : |
· The Trust Bank Limited, Mg Seva Mandir Trust Building, Near National Library V Road, Mumbai - 400050, Maharashtra, India
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Facilities : |
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Banking
Relations : |
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Auditors : |
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Name : |
Shankarlal Jain and Associates Chartered Accountants |
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Address : |
12, Engineering Building, 265 Princess Street, Mumbai – 400002,
Maharashtra, India |
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Tel. No.: |
91-22-22036623/22065739 |
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Fax No.: |
91-22-22086269 |
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Website : |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AACFS6967Q |
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Other related parties with whom transaction have taken place during
the year : |
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CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs. 100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3955750 |
Equity Shares |
Rs.10/- each |
Rs. 39.558
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 |
39.558 |
39.558 |
39.558 |
|
(b) Reserves & Surplus |
479.603 |
478.599 |
405.806 |
|
(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) |
519.161 |
518.157 |
445.364 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
347.782 |
581.826 |
482.905 |
|
(b) Deferred tax liabilities
(Net) |
12.392 |
12.003 |
4.530 |
|
(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) |
360.174 |
593.829 |
487.435 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
812.334 |
745.820 |
616.330 |
|
(b) Trade payables |
27.063 |
340.281 |
203.779 |
|
(c) Other current liabilities |
13.575 |
33.470 |
2.350 |
|
(d) Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Current Liabilities (4) |
852.972 |
1119.571 |
822.459 |
|
|
|
|
|
|
TOTAL |
1732.307 |
2231.557 |
1755.258 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
189.539 |
207.119 |
220.972 |
|
(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 |
551.926 |
552.035 |
675.399 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
120.158 |
159.461 |
3.990 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
861.623 |
918.615 |
900.361 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
43.554 |
43.234 |
77.363 |
|
(c) Trade receivables |
70.806 |
34.917 |
403.950 |
|
(d) Cash and cash equivalents |
16.032 |
20.835 |
26.017 |
|
(e) Short-term loans and
advances |
737.977 |
1211.541 |
347.567 |
|
(f) Other current assets |
2.315 |
2.415 |
0.000 |
|
Total
Current Assets |
870.684 |
1312.942 |
854.897 |
|
|
|
|
|
|
TOTAL |
1732.307 |
2231.557 |
1755.258 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
|
|
|
|
|
Other Income |
|
|
|
|
|
TOTAL
|
325.649 |
1289.007 |
2108.393 |
|
|
|
|
|
|
|
Less |
EXPENSES |
320.273 |
1197.319 |
1844.709 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
5.376 |
91.688 |
263.684 |
|
|
|
|
|
|
|
Less |
TAX |
4.372 |
18.895 |
30.168 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
1.004 |
72.793 |
233.516 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
0.25 |
18.40 |
NA |
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
400.000 |
Expected Sales (2014-2015) : Rs.750.000 Millions
The above information has been parted by Mr. Ram Mansukhani (AGM
Finance)
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.31 |
5.65 |
11.08 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.46 |
5.46 |
24.42 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.01 |
0.18 |
0.59 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.23 |
2.56 |
2.47 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.02 |
1.17 |
1.04 |
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 |
39.558 |
39.558 |
39.558 |
|
Reserves & Surplus |
405.806 |
478.599 |
479.603 |
|
Net
worth |
445.364 |
518.157 |
519.161 |
|
|
|
|
|
|
long-term borrowings |
482.905 |
581.826 |
347.782 |
|
Short term borrowings |
616.330 |
745.820 |
812.334 |
|
Total
borrowings |
1099.235 |
1327.646 |
1160.116 |
|
Debt/Equity
ratio |
2.468 |
2.562 |
2.235 |
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) |
|
Total Income |
2108.393 |
1289.007 |
325.649 |
|
|
|
(38.863) |
(74.736) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
2108.393 |
1289.007 |
325.649 |
|
Profit |
233.516 |
72.793 |
1.004 |
|
|
11.08% |
5.65% |
0.31% |
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
four 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 |
No |
|
18] |
Major customers |
No |
|
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 |
Yes |
OPERATIONS
During the year Company’s total sales including other income is Rs.325.649 Millions. There is net profit before tax is Rs 5.376 Millions and profit after tax is Rs 1.004 Millions.
UNSECURED LOAN
|
PARTICULARS |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
Long-term
Borrowings |
|
|
|
From director and shareholders |
260.711 |
481.121 |
|
Short-term
borrowings |
|
|
|
From PEC Limited (Secured by bank grantees of Rs. 120.000 Millions) |
617.876 |
480.527 |
|
Form Interoperates Deposits |
171.117 |
194.497 |
|
Total |
1049.704 |
1156.145 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10399347 |
28/12/2012 |
1,060,000,000.00 |
CANARA BANK |
PRIME CORPORATE
BRANCH II, 2ND FLOOR, VARMA CHAM |
B66556168 |
|
2 |
10297147 |
29/10/2007 |
140,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B04858445 |
|
3 |
90240934 |
21/10/2005 * |
55,000,000.00 |
CANARA BANK |
FORT MAIN BR.; SIR P.M. ROAD, MUMBAI, MAHARASHTRA - 400001, INDIA |
- |
|
4 |
90166765 |
27/03/2014 * |
210,000,000.00 |
CANARA BANK |
SPECIALISED PRIME
CORPORATE BRANCH, MUMBAI FORT,, 2ND FLOOR, VARMA CHAMBERS, HOMJI STREET,
FORT, MU |
C03600285 |
|
5 |
90166691 |
01/08/2003 * |
55,000,000.00 |
CANARA BANK |
FORT BRANCH SIR PM
BRANCH, MUMBAI, MAHARASHTRA - 4 |
- |
|
6 |
90166654 |
01/10/2003 * |
55,000,000.00 |
CANARA BANK |
FORT (MAIN) BRANCH,
SIR PM ROAD, MUMBAI, MAHARASH |
- |
* Date of charge modification
CONTINGENT
LIABILITIES: (As on 31.03.2013)
- Outstanding bank guarantee Rs. 130.000 Millions
- Corporate guarantee jointly with Astron Developers Private Limited and
Prateek Spintex Private Limited given to banker on behalf of a company is
Rs. 1410.000 Millions
FIXED ASSETS
- Office Premises
- Office Equipment
- Computer
- Electric installation
- Furniture and Fixtures
- Vehicles
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.61.02 |
|
|
1 |
Rs.99.43 |
|
Euro |
1 |
Rs.77.84 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
KVT |
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 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
|
30 |
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.