MIRA INFORM REPORT
|
Report No. : |
316054 |
|
Report Date : |
06.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
GANGWAL CHEMICALS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
306, Business Classic, Chincholi Bunder, Off. S.V. Road, Malad (West),
Mumbai – 400064, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
10.11.1987 |
|
|
|
|
Com. Reg. No.: |
11-045235 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 4.207 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24110MH1987PTC045235 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMG10016G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACG1463E |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer of Pharmaceutical Ingredient. |
|
|
|
|
No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (53) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
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|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having fine track record. Overall financial position of the company seems to be sound. Trade relations are reported to be fair. Business is active. Payment terms
are reported to be regular and as per commitment. The company can be considered for normal business dealing at usual
trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
Not Available
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. Prashant Shirsolla |
|
Designation : |
Account Head |
|
Contact No.: |
91-22-28889000 |
|
Date : |
04.04.2015 |
LOCATIONS
|
Registered / Corporate Office : |
306, Business Classic, Chincholi Bunder, Off. S.V. Road, Malad (West),
Mumbai – 400064, Maharashtra, India |
|
Tel. No.: |
91-22-28889000 |
|
Fax No.: |
91-22-28835347 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
1000 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Factory 1 : |
N 5, MIDC, Tarapur, |
|
Area : |
2000 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Factory 2 : |
4/33/34, Malad Co-Operative Society Limited, 7, Poddar Park, Malad
(East), Mumbai – 400097, Maharashtra, India |
|
Tel. No.: |
91-22-28836565 |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Kailash Chandra Nemichand Jain |
|
Designation : |
Director |
|
Address : |
4/33, Malad Co-Operative Housing Society, 7, |
|
Date of Birth/Age : |
11.06.1934 |
|
Qualification : |
M. Pharma |
|
Date of Appointment: |
22.11.2001 |
|
DIN No.: |
00021239 |
|
|
|
|
Name : |
Mr. Prasad Ganpatrao Anaokar |
|
Designation : |
Director |
|
Address : |
11, Alankar, 1st Floor, 40, |
|
Date of Birth/Age : |
20.01.1954 |
|
Date of Appointment: |
24.12.2009 |
|
DIN No.: |
02903259 |
KEY EXECUTIVES
|
Name : |
Mr. Prashant Shirsolla |
|
Designation : |
Account Head |
MAJOR SHAREHOLDERS
AS ON 30.09.2014
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Kailashchandra N Jain |
110 |
0.03 |
|
Anil Jain |
420500 |
99.95 |
|
Premlata Jain |
110 |
0.03 |
|
Total |
420720 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Pharmaceutical Ingredient. |
|
|
|
|
Products : |
·
Excipients ·
Nutraceuticals ·
Active Pharmaceutical Ingredients ·
Amino Acids ·
Sweeteners ·
Herbal Extracts ·
Drugs and Pharmaceuticals |
|
|
|
|
Brand Names : |
Not Divulged |
|
|
|
|
Agencies Held : |
Not Divulged |
|
|
|
|
Exports : |
|
|
Products : |
·
Pharmaceutical Excipients ·
Bulk Drugs |
|
Countries : |
·
Japan ·
Pakistan ·
Malaysia ·
Middle East ·
European Countries ·
Bangladesh ·
UK |
|
|
|
|
Imports : |
|
|
Products : |
·
Raw Materials |
|
Countries : |
·
Europe ·
USA ·
Japan ·
China |
|
|
|
|
Terms : |
|
|
Selling : |
Cash, Credit (30 / 60 / 90 Days) |
|
|
|
|
Purchasing : |
Cash, Credit (30 / 60 / 90 Days) |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
·
Fuji Chemicals, Japan |
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Customers : |
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No. of Employees : |
100 (Approximately) |
||||||||||||||||||||||
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Bankers : |
·
State
Bank of India, Industrial Finance Branch, Malad (East), Mumbai – 400064,
Maharashtra, India |
||||||||||||||||||||||
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|
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Facilities : |
|
|
|
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|
Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
Sunil M. Jain and Associates Chartered Accountants |
|
Address : |
Shop No. 3, Regency, Datta Mandir Road, Malad (East), Mumbai – 400097,
Maharashtra, India |
|
PAN No.: |
AABPJ3708M |
|
|
|
|
Membership : |
-- |
|
|
|
|
Associates / Subsidiaries : |
·
S. A. Pharmachem Private Limited, India ·
Chinay Logistics Private Limited, India ·
Sadguru Marketing |
CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
420720 |
Equity Shares |
Rs.10/- each |
Rs.4.207 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
4.207 |
4.207 |
4.207 |
|
(b) Reserves & Surplus |
67.204 |
51.929 |
45.368 |
|
(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) |
71.411 |
56.136 |
49.575 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.531 |
0.515 |
0.371 |
|
(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) |
0.531 |
0.515 |
0.371 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
75.163 |
100.757 |
86.606 |
|
(b) Trade
payables |
105.746 |
50.446 |
46.547 |
|
(c) Other current
liabilities |
45.854 |
13.248 |
1.206 |
|
(d) Short-term
provisions |
16.426 |
10.676 |
14.348 |
|
Total Current
Liabilities (4) |
243.189 |
175.127 |
148.707 |
|
|
|
|
|
|
TOTAL |
315.131 |
231.778 |
198.653 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
41.158 |
38.009 |
38.418 |
|
(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 |
41.158 |
38.009 |
38.418 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.007 |
0.007 |
0.007 |
|
(b)
Inventories |
60.890 |
59.270 |
42.946 |
|
(c) Trade
receivables |
155.923 |
84.792 |
60.166 |
|
(d) Cash
and cash equivalents |
7.431 |
4.384 |
3.692 |
|
(e)
Short-term loans and advances |
49.722 |
45.316 |
53.421 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.003 |
|
Total
Current Assets |
273.973 |
193.769 |
160.235 |
|
|
|
|
|
|
TOTAL |
315.131 |
231.778 |
198.653 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
595.033 Gross Income |
469.873 Gross Income |
305.091 |
|
|
|
Other Income |
NA |
NA |
13.238 |
|
|
|
TOTAL (A) |
NA |
NA |
318.329 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases |
NA |
NA |
236.581 |
|
|
|
Employees Benefits |
NA |
NA |
19.594 |
|
|
|
Other Expenses |
NA |
NA |
37.516 |
|
|
|
TOTAL (B) |
NA |
NA |
293.691 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
NA |
NA |
24.638 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
NA |
NA |
9.285 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
25.041 |
14.115 |
15.353 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
3.665 |
3.804 |
3.846 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F)
(G) |
21.376 |
10.311 |
11.507 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
5.963 |
3.180 |
3.900 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
15.275 |
6.561 |
7.607 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Exports of goods at FOB Value |
|
|
67.441 |
|
|
|
Commission |
|
|
4.764 |
|
|
|
Rent |
|
|
0.453 |
|
|
|
Car Hire Charge |
|
|
0.381 |
|
|
TOTAL EARNINGS |
NA |
NA |
73.039 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
CIF Value of Trading Goods |
|
|
127.028 |
|
|
TOTAL IMPORTS |
NA |
NA |
127.028 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
36.31 |
-- |
18.08 |
|
Expected Sales (2014-2015): Rs.650.000 Million
The above information has been parted by Mr. Prashant
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin PAT / Sales |
(%) |
NA |
NA |
2.49 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
NA |
NA |
8.08 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets) |
(%) |
6.78 |
4.45 |
5.79 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.30 |
0.18 |
0.23 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.05 |
1.79 |
1.75 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.13 |
1.11 |
1.08 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Share Capital |
4.207 |
4.207 |
4.207 |
|
Reserves & Surplus |
45.368 |
51.929 |
67.204 |
|
Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
49.575 |
56.136 |
71.411 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
86.606 |
100.757 |
75.163 |
|
Total
borrowings |
86.606 |
100.757 |
75.163 |
|
Debt/Equity
ratio |
1.747 |
1.795 |
1.053 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
|
31.03.2013 |
31.03.2014 |
|
|
|
Rs.
In Million |
Rs.
In Million |
|
Gross Income |
|
469.873 |
595.033 |
|
|
|
|
26.637 |
NET PROFIT MARGIN
|
Net
Profit Margin |
|
31.03.2013 |
31.03.2014 |
|
|
|
Rs.
In Million |
Rs.
In Million |
|
Gross Income |
|
469.873 |
595.033 |
|
Profit |
|
6.561 |
15.275 |
|
|
|
1.40% |
2.57% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS ARE NOT AVAILABLE.
|
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 |
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] |
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 |
NOTE:
The registered office of the company has been shifted from 25, Diamond Plaza,
Laxminarayan Shopping Centre, Poddar Park, Malad (East), Mumbai – 400 097,
Maharashtra, India to the present address w.e.f. 02.07.2012
UNSECURED LOANS:
|
Particulars |
31.03.2014 Rs. In Million |
31.03.2013 Rs. In Million |
|
Short Term Borrowings |
|
|
|
|
|
|
|
Loan from banks |
7.084 |
10.525 |
|
Loan from
directors |
3.000 |
3.000 |
|
Loan from related
party |
31.482 |
34.584 |
|
|
|
|
|
Total |
41.566 |
48.109 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10147949 |
13/03/2009 |
15,600,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
A58555665 |
|
2 |
10097090 |
28/03/2011 * |
40,000,000.00 |
CITIBANK N. A. |
TRENT
HOUSE, 2ND FLOOR, G BLOCK, PLOT NO.C60, BANDRA KURLA COMPLEX, BANDRA (E),
MUMBAI, MAHARASHTRA |
B10040939 |
|
3 |
10053228 |
13/11/2014 * |
160,000,000.00 |
CITI BANK N.A. |
FIRST INTERNATIONAL FINANCIAL CENTRE (FIFC), PLOT NO:C-54 & C-55, G-BLOCK, BKC, BANDRA (EAST), MUMBAI, MAHARASHTRA - 400051, INDIA |
C39643861 |
*Date of modification Charges
FIXED ASSETS
· Land
·
· Computers
· Furniture and Fixtures
· Motor Car
· Air Conditioner
·
Aqua Guard
·
Card Scanner
·
Office Equipment
·
Telephone System
·
Time Punching Machine
·
Safe Godrej
·
Xerox WC 5016
·
Office Premises
· Plant and Machinery
·
Air Conditioner
·
Factory Equipment
·
Laboratory Equipment
·
Production
·
Q.C.
·
Research and Development
·
Machineries
·
Electrical Installations
·
Computer Factory
·
R and D Lab Equipment
·
Furniture (Interior
Work)
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.62.59 |
|
|
1 |
Rs.92.46 |
|
Euro |
1 |
Rs.67.51 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
53 |
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.