MIRA INFORM REPORT
|
Report No. : |
319023 |
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Report Date : |
24.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
DAGA GLOBAL CHEMICALS PRIVATE LIMITED (w.e.f. 21.10.2013) |
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Formerly Known
As : |
DAGA GLOBAL CHEMICALS LIMITED |
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Registered
Office : |
101, Mahek Plaza, Maharashtra Nagar Lane, Borivali (West), Mumbai –
400092, Maharashtra |
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Tel. No.: |
91-22-28920909 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
28.03.1996 |
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Com. Reg. No.: |
11-098494 |
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Capital
Investment / Paid-up Capital : |
Rs. 40.000 Million |
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CIN No.: [Company Identification
No.] |
U24100MH1996PTC098494 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in trading of Chemicals, Solvents, Raw Materials and Intermediates, Polymers etc. |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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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 satisfactory track record. There seems continuous drastic dip in the profits of the company
during 2014. However, general financial position of the company is decent. The rating also takes into consideration promoter’s extensive industry
experience and established relationship with suppliers and customers. Trade relations are reported as fair. Business is active. Payments are
reported to be slow but correct. The company can be considered normal for business dealings 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.
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 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating: BBB- |
|
Rating Explanation |
Have moderate degree of safety and carry moderate credit risk. |
|
Date |
13.10.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating: A3 |
|
Rating Explanation |
Have moderate degree of safety and carry higher credit risk. |
|
Date |
13.10.2014 |
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 DECLINED BY
|
Name : |
Ms. Kokila Amrutlal Gadhiya |
|
Designation : |
Director |
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Contact No.: |
91-22-28920909 |
|
Date : |
23.04.2015 |
LOCATIONS
|
Registered Office : |
101, Mahek Plaza, Maharashtra Nagar Lane, Borivali (West), Mumbai –
400092, Maharashtra, India |
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Tel. No.: |
91-22-28920909 |
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Fax No.: |
91-22-28911013 |
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E-Mail : |
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Corporate Office
: |
Sector 12, Lilashah Nagar, Gandhidham – 370201, |
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Overseas Office
: |
Located at:
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Marketing Office
|
Located at:
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Branch Office : |
Located at:
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DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Satyen M. Daga |
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Designation : |
Managing Director |
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Address : |
A-4/401, |
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Date of Birth/Age : |
12.12.1961 |
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Qualification : |
B. Com |
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Date of Appointment : |
01.06.2013 |
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DIN No.: |
00202627 |
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|
|
|
Name : |
Ms. Kokila Amrutlal Gadhiya |
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Designation : |
Whole-Time
Director |
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Address : |
A-503, Shiv Amrut, Bharwany’s Complex, Kalyan (West), Thane-421301, |
|
Date of Birth/Age : |
29.12.1963 |
|
Qualification : |
B. Com. |
|
Date of Appointment : |
01.06.2013 |
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DIN No.: |
00226266 |
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|
|
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Name : |
Mr. Vijay Gajanan Gangan |
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Designation : |
Whole-time director |
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Address : |
A-704, Shri Krishna, Borasa Pada Road, Near Kamala Vihar Sports Club, Kandivali-
West, Mumbai-400067, Maharashtra, India |
|
Date of Birth/Age : |
10.05.1968 |
|
Date of Appointment : |
01.06.2013 |
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DIN No.: |
00226149 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Sayten Mahabirprasad Daga |
|
263870 |
|
Rama Daga |
|
6470 |
|
Kokila A. Gadhiya |
|
12000 |
|
Sayten Daga and Rama Daga |
|
117650 |
|
Vijay Gajanan Gangan |
|
10 |
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TOTAL |
|
400000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in trading of Chemicals, Solvents, Raw
Materials and Intermediates, Polymers etc. |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
Union Bank of India, Bhat Bazar Branch, Anant Deep Chambers, 273/277, Narsi Natha Street, Mumbai - 400009, Maharashtra, India
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
S.S. Rathi and Company Chartered Accountants |
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Address : |
502, Shree Shivdutta Apartment, Near Lalit Restaurant, Station Road, Goregaon (West ) , Mumbai-400062, Maharashtra, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAOFS2521C |
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Memberships : |
-- |
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Collaborators : |
-- |
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Subsidiary Company
(held directly): |
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Single Share Holder
of Free Zone Company of U.A.E: |
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Partnership Firm: |
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CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
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|
|
|
|
400000 |
Equity Shares |
Rs.100/- each |
Rs. 40.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
400000 |
Equity Shares |
Rs.100/- each |
Rs. 40.000 Million |
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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 |
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|
|
|
(1)Shareholders' Funds |
|
|
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(a) Share Capital |
40.000 |
40.000 |
40.000 |
|
(b) Reserves & Surplus |
213.026 |
219.583 |
202.358 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
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|
|
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(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
253.026 |
259.583 |
242.358 |
|
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(3) Non-Current Liabilities |
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|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
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(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.149 |
0.149 |
0.220 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
0.149 |
0.149 |
0.220 |
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(4) Current Liabilities |
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|
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(a) Short term borrowings |
179.103 |
653.149 |
132.391 |
|
(b) Trade payables |
299.624 |
198.338 |
255.127 |
|
(c) Other current liabilities |
22.622 |
32.667 |
15.299 |
|
(d) Short-term provisions |
27.393 |
21.575 |
13.300 |
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Total
Current Liabilities (4) |
528.742 |
905.729 |
416.117 |
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|
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TOTAL |
781.917 |
1165.461 |
658.695 |
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II.
ASSETS |
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(1) Non-current assets |
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(a) Fixed Assets |
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|
|
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(i) Tangible assets |
6.345 |
7.386 |
3.445 |
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(ii) Intangible Assets |
0.176 |
0.215 |
0.320 |
|
(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 |
0.808 |
9.734 |
9.734 |
|
(c) Deferred tax assets (net) |
0.155 |
0.082 |
0.104 |
|
(d) Long-term Loan and Advances |
3.759 |
3.797 |
1.249 |
|
(e) Other Non-current assets |
0.000 |
11.812 |
8.416 |
|
Total
Non-Current Assets |
11.243 |
33.026 |
23.268 |
|
|
|
|
|
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(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
41.922 |
252.654 |
95.946 |
|
(c) Trade receivables |
505.190 |
752.951 |
423.148 |
|
(d) Cash and cash equivalents |
177.224 |
63.042 |
80.136 |
|
(e) Short-term loans and
advances |
34.068 |
33.735 |
18.666 |
|
(f) Other current assets |
12.270 |
30.053 |
17.531 |
|
Total
Current Assets |
770.674 |
1132.435 |
635.427 |
|
|
|
|
|
|
TOTAL |
781.917 |
1165.461 |
658.695 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
2853.716 |
2870.814 |
2043.574 |
|
|
Other Income |
|
|
48.552 |
|
|
TOTAL
(A) |
2853.716 |
2870.814 |
2092.126 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Purchases of Stock-in-Trade |
|
|
1905.740 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
|
3.960 |
|
|
Employees benefits expense |
|
|
26.201 |
|
|
Other expenses |
|
|
88.221 |
|
|
TOTAL
(B) |
2841.307 (Including
Financial Expenses) |
2844.083 (Including
Financial Expenses) |
2024.122 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
|
|
68.004 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
23.713 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
12.409 |
26.731 |
44.291 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
1.601 |
1.159 |
1.036 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
10.808 |
25.572 |
43.255 |
|
|
|
|
|
|
|
Less |
TAX (H) |
5.744 |
8.347 |
13.379 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
5.064 |
17.225 |
29.876 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
174.408 |
161.693 |
127.010 |
|
|
|
|
|
|
|
Add |
FOREIGN
CURRENCY TRANSLATION RESERVE |
0.133 |
0.000 |
0.267 |
|
|
|
|
|
|
|
|
RESERVE FOR DOUBTFUL DEBTS NO LONGER REQUIRED |
0.000 |
0.000 |
9.523 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General Reserve |
2.773 |
1.722 |
2.987 |
|
|
Reserve for contingencies |
0.000 |
2.788 |
1.996 |
|
|
Balance
Carried to the B/S |
176.832 |
174.408 |
152.170 |
|
|
|
|
|
|
|
|
PURCHASES ( CIF
VALUE ) |
648.366 |
1165.608 |
511.417 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
FOB Value of Exports (Net of Return) |
NA |
169.264 |
83.157 |
|
|
Dividends |
NA |
0.000 |
2.647 |
|
|
Commission |
NA |
14.077 |
4.452 |
|
|
TOTAL
EARNINGS |
NA |
183.341 |
90.256 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
12.66 |
43.06 |
74.69 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
NA |
NA |
1.46 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
NA |
NA |
3.33 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.38 |
2.21 |
6.67 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04 |
0.10 |
0.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.71 |
2.52 |
0.55 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.46 |
1.25 |
1.53 |
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 |
40.000 |
40.000 |
40.000 |
|
Reserves & Surplus |
202.358 |
219.583 |
213.026 |
|
Net
worth |
242.358 |
259.583 |
253.026 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
132.391 |
653.149 |
179.103 |
|
Total
borrowings |
132.391 |
653.149 |
179.103 |
|
Debt/Equity
ratio |
0.546 |
2.516 |
0.708 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Total Income |
2092.126 |
2870.814 |
2853.716 |
|
|
|
37.220 |
(0.596)_ |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Total Income |
2092.126 |
2870.814 |
2853.716 |
|
Profit |
29.876 |
17.225 |
5.064 |
|
|
1.43% |
0.60% |
0.18% |
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 |
No |
|
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 |
Yes |
NOTE: Registered office of the company has been shifted from 112, Dattani Trade Centre, Chandavarkar Road, Borivali (West), Mumbai-400092, Maharashtra, India to the present address w.e.f 01.12.2012
OPERATIONS:
Short fall in targeted sales was mainly due to overall Chemicals/Petrochemicals markets continuing to remain choppy throughout the year like second half of the previous year, forcing the company to tread cautiously, and avoid getting trapped into wrong commitments / defaults with suppliers customers under such highly gyrating markets. Overall demand for the products remained subdued to moderate, mainly because of heavy slowdown in construction and auto industry and coating (paint / printing ink / dyes) segment, having a spiralling effect on demand supply vis-à-vis pricing of all upstream to downstream chemicals / petrochemicals products. Business sentiments all along remained under shadow of cautious optimism, which still persists but expected to improve in second half of the year 2014.
PBT during the year was lower mainly due to forex loss of Rs. 44.200 Million. apart from Call Option premium pay out of Rs.18.200 Million. to hedge foreign exchange exposure.
Adding to woes, due to sudden demand destruction in global markets of one of their imported products in bulk quantities, Toluene, starting Jan13, and the resultant vertical incessant price drops in subsequent months, and also because of excessive all time high imports at Kandla and Mumbai port by various importers, they had to carry forward huge inventory of Toluene as of 31.03.13; heavily oversupplied market apart from poor demand of Toluene became disastrous for all importers, including ourselves, forcing us to liquidate stocks at heavy cash loss during Apr Jun 13 period without much of a choice in order to raise funds to make timely payments of all their import bills.
However, management and the sales team worked very hard and did a smart recovery during the year, wiping out the entire cash losses, and ending up the financial year with a moderate profit.
The company will strive to make up for the lost volumes profitability through redesigning of the whole business portfolios to avoid disastrous situations of last two years, and ensure to achieve profitable growth in the coming year/s.
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
80016638 |
19/10/2011 * |
230,000,000.00 |
UNION BANK OF INDIA |
INDUSTRIAL FINANCE
BRANCH, UNION BANK BHAVAN, 1ST FLOOR, 239,VIDHAN BHAVAN MARG,NARIMAN POINT, MU
|
B25611740 |
|
2 |
80064095 |
29/07/2013 * |
695,000,000.00 |
UNION BANK OF INDIA |
INDUSTRIAL FINANCE
BRANCH,UNION BANK BHAVAN, 1ST |
B82405358 |
* Date of charge modification
FIXED ASSETS
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
Intangible assets
- Computer software
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.63.19 |
|
|
1 |
Rs.94.94 |
|
Euro |
1 |
Rs.67.66 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
45 |
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.