MIRA INFORM REPORT
|
Report No. : |
316442 |
|
Report Date : |
08.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
ADEPT FLUIDYNE PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No.4, S No.17/1-B, Kothrud Industrial Estate, Kothrud, Pune – 411
038, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
10.08.1983 |
|
|
|
|
Com. Reg. No.: |
11-030609 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.2.368 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U99999MH1983PTC030609 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEMA00301A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCA5165G |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
The Company is
engaged in the business of Manufacturing of Electromechanical Products. |
|
|
|
|
No. of Employees
: |
80 (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 30000 |
|
|
|
|
Status : |
Moderate |
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|
|
Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. The management has failed to file its financial record with government
department for the year 2014. The rating is constrained on account of company’s moderate financial
risk profile marked by small networth and absence of latest financial
information. However, trade relations are fair. Business is active. Payment terms are
reported to be unknown. 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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
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. Vinayak Shrinivas Gadre |
|
Designation : |
Director |
|
Contact No.: |
91-9881478230 |
|
Date : |
08.04.2015 |
LOCATIONS
|
Registered Office/ Factory : |
Plot No.4, S No.17/1-B, Kothrud Industrial Estate, Kothrud, Pune – 411
038, Maharashtra, India |
|
Tel. No.: |
91-20-25431474/ 25441124 |
|
Mobile No.: |
91-9881478230 (Mr. Vinayak Gadre) |
|
Fax No.: |
91-20-25440480 |
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E-Mail : |
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|
Website : |
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|
Area : |
11000 sq. ft. |
|
Location : |
Owned |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Shrinivas Krishnaji Gadre |
|
Designation : |
Director |
|
Address : |
Sarasvati Niwas, 42, Ideal Colony, Kothrud, Pune - 411 038 , Maharashtra, India |
|
Date of Birth/Age : |
10.10.1956 |
|
Date of Appointment : |
01.10.2008 |
|
DIN No.: |
00966757 |
|
|
|
|
Name : |
Mrs. Padmaja Shrinivas Gadre |
|
Designation : |
Director |
|
Address : |
Sarasvati Niwas, 42, Ideal Colony, Kothrud, Pune - 411 038 , Maharashtra, India |
|
Date of Birth/Age : |
25.04.1958 |
|
Date of Appointment : |
26.10.1984 |
|
DIN No.: |
00966712 |
|
|
|
|
Name : |
Mr. Vinayak Shrinivas Gadre |
|
Designation : |
Director |
|
Address : |
Sarasvati Niwas, 42, Ideal Colony, Kothrud, Pune - 411 038 , Maharashtra, India |
|
Date of Birth/Age : |
31.08.1984 |
|
Date of Appointment : |
30.09.2008 |
|
DIN No.: |
02176448 |
KEY EXECUTIVES
|
Name : |
Shyamprasad D. Limaye |
|
Designation : |
Company Secretory |
|
Address : |
32, Nevketan Society, Kothurd, Pune – 411038, Maharashtra,
India |
|
Tel. No. (Office): |
91-20-25430388 |
|
Tel. No. (Residential): |
91-20-25230773 |
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Email: |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Shrinivas Krishnaji Gadre |
|
12320 |
|
Shrinivas Krishnaji Gadre (HUF) |
|
2644 |
|
Padmaja Shrinivas Gadre |
|
8700 |
|
Vinayak Shrinivas Gadre |
|
5 |
|
Chinmay Shrinivas Gadre |
|
6 |
|
Total |
|
23675 |
AS ON 30.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is
engaged in the business of Manufacturing of Electromechanical Products. |
|
|
|
|
Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
·
Singapore ·
China ·
Taiwan ·
America |
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Terms : |
|
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Selling : |
Cash and Credit (30 days / 60 days / 90 days) |
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Purchasing : |
Cash and Credit (30 days / 60 days / 90 days) |
GENERAL INFORMATION
|
Supplier : |
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Customers : |
End Users, Manufacturers, OEM’s and Dealers ·
Siemens Limited
·
Armax Automation Private Limited ·
Blue Star Limited , Sakinaka ·
Blue Star Limited , Thane ·
Daikin Airconditioning lndia Private Limited ·
ETA Engineering Private Limited, Mumbai
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No. of Employees : |
80 (Approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
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Name 1 : |
SNDA and Company Chartered Accountants |
|
Address : |
2, Alankar Apartments, S No. 26/14, Near Sakal Sankul, Shivaji Nagar,
Pune - 411005, Maharashtra, India |
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|
|
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Memberships : |
-- |
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Collaborators : |
-- |
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
24900 |
Equity Shares |
Rs.100/- each |
Rs.2.490 Million |
|
100 |
Preference Shares |
Rs.100/- each |
Rs.0.010 Million |
|
|
Total |
|
Rs.2.500 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
23675 |
Equity Shares |
Rs.100/- each |
Rs.2.368
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
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 |
2.368 |
2.368 |
2.368 |
|
(b) Reserves & Surplus |
7.969 |
4.232 |
3.594 |
|
(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) |
10.337 |
6.600 |
5.962 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
3.297 |
3.743 |
4.374 |
|
(b) Deferred tax liabilities
(Net) |
0.772 |
0.694 |
0.252 |
|
(c) Other long term
liabilities |
0.150 |
0.150 |
0.150 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
4.219 |
4.587 |
4.776 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
3.040 |
3.279 |
2.644 |
|
(b) Trade payables |
4.296 |
5.703 |
4.947 |
|
(c) Other current liabilities |
3.234 |
2.822 |
2.720 |
|
(d) Short-term provisions |
0.781 |
0.000 |
0.000 |
|
Total
Current Liabilities (4) |
11.351 |
11.804 |
10.311 |
|
|
|
|
|
|
TOTAL |
25.907 |
22.991 |
21.049 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
7.286 |
6.200 |
6.297 |
|
(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 |
0.398 |
0.455 |
0.428 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
7.684 |
6.655 |
6.725 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
5.287 |
6.383 |
5.355 |
|
(c) Trade receivables |
12.101 |
9.288 |
8.183 |
|
(d) Cash and cash equivalents |
0.049 |
0.102 |
0.182 |
|
(e) Short-term loans and
advances |
0.786 |
0.563 |
0.604 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
18.223 |
16.336 |
14.324 |
|
|
|
|
|
|
TOTAL |
25.907 |
22.991 |
21.049 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
42.720 |
30.690 |
28.201 |
|
|
|
Other Income |
0.651 |
0.462 |
0.462 |
|
|
|
TOTAL |
43.371 |
31.152 |
28.663 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
37.745 |
30.058 |
26.597 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
5.626 |
1.094 |
2.066 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION |
0.304 |
0.547 |
0.603 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
5.322 |
1.624 |
1.463 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
4.790 |
1.269 |
1.198 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
0.532 |
0.355 |
0.265 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
22.47 |
14.99 |
11.19 |
|
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
41.000 |
|
|
|
|
|
Expected Turnover (2014-2015) : Rs. 60.000 Million
The above information has been parted by Mr. Vinayak Shrinivas
Gadre
(Director).
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.25 |
1.16 |
0.94 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
20.54 |
7.06 |
6.95 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.51 |
0.25 |
0.25 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.61 |
1.06 |
1.18 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.61 |
1.38 |
1.39 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
2.368 |
2.368 |
2.368 |
|
Reserves & Surplus |
3.594 |
4.232 |
7.969 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
5.962 |
6.600 |
10.337 |
|
|
|
|
|
|
long-term borrowings |
4.374 |
3.743 |
3.297 |
|
Short term borrowings |
2.644 |
3.279 |
3.040 |
|
Total borrowings |
7.018 |
7.022 |
6.337 |
|
Debt/Equity ratio |
1.177 |
1.064 |
0.613 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
28.201 |
30.690 |
42.720 |
|
|
|
8.826 |
39.198 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
28.201 |
30.690 |
42.720 |
|
Profit |
0.265 |
0.355 |
0.532 |
|
|
0.94% |
1.16% |
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 |
Yes |
|
5] |
Type
of Business |
Yes |
|
6] |
Line
of Business |
Yes |
|
7] |
Promoter's
background |
Yes |
|
8] |
No.
of employees |
Yes |
|
9] |
Name
of person contacted |
Yes |
|
10] |
Designation
of contact person |
Yes |
|
11] |
Turnover
of firm for last three years |
Yes |
|
12] |
Profitability
for last three years |
Yes |
|
13] |
Reasons
for variation <> 20% |
-- |
|
14] |
Estimation
for coming financial year |
Yes |
|
15] |
Capital
in the business |
Yes |
|
16] |
Details
of sister concerns |
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 |
No |
|
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 |
31.03.2013 (Rs.
in Million) |
31.03.2012 (Rs.
in Million) |
|
LONG TERM
BORROWINGS |
|
|
|
Loan From Directors |
1.775 |
2.359 |
|
Loan From Other parties |
1.350 |
1.350 |
|
|
|
|
|
Total |
3.125 |
3.709 |
VIEW INDEX OF
CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10469575 |
20/11/2013 |
13,900,000.00 |
BANK OF
MAHARASHTRA |
S.S.I. Branch,
694/2 -B Poonam Plaza, Market Yard Road, Pune, Maharashtra - 411037, India |
B93287563 |
CORPORATE
INFORMATION:
Subject was
incorporated in India as a Private Limited Company on 10 th August 1983. The
Company is engaged in the business of Manufacturing of Electromechanical
Products.
FIXED ASSETS:
·
Plant and Machinery
·
Furniture and Fixture
·
Office Equipment
·
Moulds and Dies
·
Laboratory Equipment
·
Vehicles
·
Building
·
Factory Land
·
Electrification-M/Shop
·
Electrification-Office
·
Flow Lab
·
Car
·
Computer
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.62.33 |
|
UK Pound |
1 |
Rs.92.83 |
|
Euro |
1 |
Rs.68.08 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SNT |
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 |
3 |
|
--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 |
NO |
|
--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.