MIRA INFORM REPORT

 

 

Report No. :

318928

Report Date :

25.04.2015

 

IDENTIFICATION DETAILS

 

Name :

ATLAS PHARMACHEM INDUSTRIES PRIVATE LIMITED (w.e.f.02.04.2008)

 

 

Formerly Known As :

ALTA INTER-CHEM INDUSTRIES PRIVATE LIMITED

 

 

Registered Office :

2nd Floor, Shiromani Complex, Satellite Road, Ahmedabad - 380015, Gujarat

Tel. No.:

91-79-26769721

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

10.04.2007

 

 

Com. Reg. No.:

050480

 

 

Capital Investment / Paid-up Capital :

Rs. 29.500 Million

 

 

CIN No.:

[Company Identification No.]

U24110GJ2007PTC050480

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

 

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer and Exporter of Dye Intermediates and Bulk Drug Intermediates.

 

 

No. of Employees :

10 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca (20)

 

RATING

STATUS

 

PROPOSED CREDIT LINE

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

 

 

Status :

Moderate

 

 

Payment Behaviour :

Slow

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having moderate track record.

 

For the financial year 2014, company has shown moderate operational performance with stagnant topline levels and it has low profitability margins.

 

Due to accumulated losses over a year it has negative reserves which further weaker the liquidity profile of the company.

 

However, weakness partially offset by equity fund influence by promoters and profit achieved over past 2 years.

 

Business is active. Payments are reported to be slow.

 

In view of weak networth position, the company can be considered for business dealings on safe and secured 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

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

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 (GENERAL DETAILS)

 

Name :

Mr. Bhavesh Doshi

Designation :

Accounts Manager

Contact No.:

91-79-26769721

Date :

23.04.2015

 

 

LOCATIONS

 

Registered Office :

2nd Floor, Shiromani Complex, Satellite Road, Ahmedabad – 380015, Gujarat, India

Tel. No.:

91-79-26769721-23

Fax No.:

91-79-26744295

E-Mail :

bhavesh.doshi@atlaspharmachem.com

contact@atlaspharmachem.com

Website :

www.atlaspharmachem.com

Location :

Owned

 

 

Factory :

Plot No. 286-287, Phase II, GIDC Estate, Vatva, Ahmedabad – 382445, Gujarat, India

Tel. No.:

91-79-25892274

Fax No.:

91-79-25892272

 

 

DIRECTORS

 

AS ON 30.09.2014

 

Name :

Mr. Jagdish Kantilal Sheth

Designation :

Managing director

Address :

23, Ashwavilla Bunglows, Off S. G. Road, Sindhu Bhavan Road, Thaltej, Ahmedabad – 380059, Gujarat, India

Date of Birth/Age :

10.06.1944

Date of Appointment :

01.01.2012

DIN No.:

00320676

Other Directorship :

 

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U24114GJ2004PTC044016

ATLAS DYE-CHEM (INDIA) PRIVATE LIMITED

Managing director

22-04-2004

22-04-2004

-

Active

NO

2

U24110GJ2007PTC050480

ATLAS PHARMACHEM INDUSTRIES PRIVATE LIMITED

Managing director

01-01-2012

10-04-2007

-

Active

NO

3

U24231GJ1996PTC030650

ROMANO DRUGS PRIVATE LIMITED

Director

30-09-2008

08-10-2007

23-09-2009

Active

NO

 

 

Name :

Keyur Jagdishbhai Sheth

Designation :

Director

Address :

23, Ashwavilla Bunglows, Off S. G. Road, Sindhu Bhavan Road, Thaltej, Ahmedabad – 380059, Gujarat, India

Date of Birth/Age :

02.12.1974

Date of Appointment :

31.12.2011

DIN No.:

00320769

Other Directorship :

 

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U24114GJ2004PTC044016

ATLAS DYE-CHEM (INDIA) PRIVATE LIMITED

Director

30-09-2010

22-04-2004

-

Active

NO

2

U24110GJ2007PTC050480

ATLAS PHARMACHEM INDUSTRIES PRIVATE LIMITED

Director

31-12-2011

10-04-2007

-

Active

NO

3

U24231GJ1996PTC030650

ROMANO DRUGS PRIVATE LIMITED

Director

30-09-2008

08-10-2007

23-09-2009

Active

NO

4

U36911GJ2013PTC075981

PENNER JEWELS PRIVATE LIMITED

Director

10-07-2013

10-07-2013

-

Active

NO

 

 

KEY EXECUTIVES

 

Name :

Mr. Bhavesh Doshi

Designation :

Accounts Manager

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2014

 

Names of Shareholders

 

No. of Shares

 

Jagdish Sheth

 

660000

Keyur Sheth

 

850000

Pravina Sheth

 

261500

Aashka Sheth

 

197500

Jagdish Sheth (As a karta of J K Sheth HUF No. 3)

 

363500

Arvind Talati

 

2000

Nitin Sheth

 

2000

Malay Shah

 

1800

Jagdish Sheth (As a karta of J K Sheth HUF No. 2)

 

36500

Rajnikant Ajmera

 

100

Jyoti Ajmera

 

100

Jagdish Sheth (As a karta of J K Sheth HUF)

 

325000

Keyur Sheth (As a karta of J K Sheth HUF)

 

50000

Jagdish Sheth (As a trustee of Indumati Family Trust)

 

200000

 

 

 

Total

 

 

2950000

 

 

AS ON 30.09.2014

 

Equity Share Breakup

Percentage of Holding

Category

 

Directors or relatives of directors

99.80

Other top fifty shareholders

0.20

 

 

Total

 

100.00

 

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Exporter of Dye Intermediates and Bulk Drug Intermediates.

 

 

Brand Names :

--

 

 

Agencies Held :

--

 

 

Exports :

 

Products :

Dye Intermediates and Bulk Drug Intermediates

Countries :

·         UK

·         Hong Kong

 

 

Imports :

 

Products :

Raw Material

Countries :

China

 

 

Terms :

 

Selling :

Cash and Credit

 

 

Purchasing :

Cash and Credit

 

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference:

Not Divulged

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

 

Customers :

Wholesalers, Retailers and Manufacturer

 

Reference:

Not Divulged

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

 

No. of Employees :

10 (Approximately)

 

 

Bankers :

Bank Name:

State Bank of India

Branch:

Specialised Commercial Branch, Gandhigram, 1st Floor, Opposite Gandhigram Railway Station, Ahmedabad - 380009, Gujarat, India

Person Name (with Designation):

Not Divulged

Contact Number:

Not Divulged

Name of Account Holder:

Not Divulged

Account Number:

Not Divulged

Account Since (Date/ Year of A/c Opening):

Not Divulged

Average Balance Maintained (Optional):

Not Divulged

Credit Facilities Enjoyed (CC/OD/Term Loan):

Not Divulged

Account Operation:

Not Divulged

Remarks:

Not Divulged

 

·         ICICI Bank Limited

·         HDFC Bank Limited

 

 

Facilities :

 

SECURED LOANS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

LONG-TERM BORROWINGS

 

 

Term Loans

From Bank

2.333

3.185

SHORT TERM BORROWINGS

 

 

Loans repayable on demand

From Bank

42.584

42.669

 

 

 

Total

 

44.917

45.854

 

 

 

Financial Institutions :

·         Volkswagen Finance Private Limited

 

·         3i Infotech Trusteeship Services Limited

3rd to 6th Floor, International Infotech Park, Tower No.5, Vashi Railway Station Complex, Vashi, Navi Mumbai - 400703, Maharashtra, India

 

 

Auditors :

 

Name :

R.A. Shah and Associates

Chartered Accountants

Address :

304-306, Radha Commercial, Opposite APM Super Market, Near IOC Petrol Pump 100 Feet Road, Satellite, Ahmedabad – 380051, Gujarat, India

Tel. No.:

91-79-40064901-3

Income-tax PAN of auditor or auditor's firm :

ABIPS3328L

 

 

Enterprises over which key management personnel has significant influences :

·         Àtlas Dyechem (India) Private Limited

·         Atlas Life Sciences a division of Atlas Dyechem (India) Private Limited

·         Atlas Fibrepack Industries

·         Organica Products

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

3,000,000

Equity Shares

Rs. 10/- each

Rs. 30.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

2,950,000

Equity Shares

Rs. 10/- each

Rs. 29.500 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

29.500

15.000

15.000

(b) Reserves & Surplus

(29.227)

(30.489)

(34.550)

(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)

0.273

(15.489)

(19.550)

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

53.224

69.997

79.450

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(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)

53.224

69.997

79.450

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

42.584

42.669

52.731

(b) Trade payables

78.563

72.903

52.373

(c) Other current liabilities

14.249

20.773

19.286

(d) Short-term provisions

0.000

0.000

0.156

Total Current Liabilities (4)

135.396

136.345

124.546

 

 

 

 

TOTAL

188.893

190.853

184.446

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

89.818

91.418

85.831

(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

0.010

0.010

0.010

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

16.206

14.921

14.030

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

106.034

106.349

99.871

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

38.605

40.217

26.897

(c) Trade receivables

35.744

38.697

55.546

(d) Cash and cash equivalents

3.578

2.176

0.080

(e) Short-term loans and advances

4.932

3.414

2.052

(f) Other current assets

0.000

0.000

0.000

Total Current Assets

82.859

84.504

84.575

 

 

 

 

TOTAL

188.893

190.853

184.446

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

Income

254.071

258.939

233.528

 

 

Other Income

NA

NA

NA

 

 

TOTAL                                    

NA

NA

NA

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

TOTAL                                    

NA

NA

NA

 

 

 

 

 

 

PROFIT/ (LOSS) BEFORE TAX

1.262

3.929

(10.575)

 

 

 

 

 

Less

TAX                                                                 

0.000

(0.133)

0.003

 

 

 

 

 

 

PROFIT/ (LOSS) AFTER TAX

1.262

4.062

(10.578)

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

(37.988)

(42.050)

(31.472)

 

 

 

 

 

 

BALANCE CARRIED TO THE B/S

(36.726)

(37.988)

(42.050)

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

Export Earnings

6.291

11.298

8.772

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Raw Materials

0.878

0.000

0.601

 

 

 

 

 

 

Earnings/ (Loss) Per Share (Rs.)

0.43

2.71

(7.05)

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

0.67

2.06

(5.73)

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

4.62

(0.25)

0.54

 

 

 

 

 

Debt Equity Ratio

(Total Debt/Networth)

 

350.95

(7.27)

(6.76)

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

0.61

0.62

0.68

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particulars

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

15.000

15.000

29.500

Reserves & Surplus

-34.550

-30.489

-29.227

Net worth

-19.550

-15.489

0.273

 

 

 

 

Long-term borrowings

79.450

69.997

53.224

Short term borrowings

52.731

42.669

42.584

Total borrowings

132.181

112.666

95.808

Debt/Equity ratio

-6.761

-7.274

350.945

 

 

 

 

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)

Income from Operations

233.528

258.939

254.071

 

 

10.881

-1.880

 

 

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Income from Operations

233.528

258.939

254.071

Profit/ (Loss)

(10.578)

4.062

1.262

 

(4.53%)

1.57%

0.50%

 

 

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

 

Sr. No.

Check List by Info Agents

Available in Report

(Yes / No)

1]

Year of Establishment

Yes

2]

Locality of the firm

Yes

3]

Constitutions of the firm

Yes

4]

Premises details

No

5]

Type of Business

Yes

6]

Line of Business

Yes

7]

Promoter's background

Yes

8]

No. of employees

Yes

9]

Name of person contacted

Yes

10]

Designation of contact person

Yes

11]

Turnover of firm for last three years

Yes

12]

Profitability for last three years

Yes

13]

Reasons for variation <> 20%

--

14]

Estimation for coming financial year

No

15]

Capital in the business

Yes

16]

Details of sister concerns

Yes

17]

Major suppliers

No

18]

Major customers

No

19]

Payments terms

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

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10102508

14/04/2011 *

97,200,000.00

3I INFOTECH TRUSTEESHIP SERVICES LIMITED

3RD TO 6TH FLOOR, INTERNATIONAL INFOTECH PARK, TOWER NO.5, VASHI RAILWAY STATION COMPLEX, VASHI, NAVI MUMBAI, MAHARASHTRA - 400703, INDIA

B11775020

2

10075102

13/04/2011 *

97,200,000.00

3I INFOTECH TRUSTEESHIP SERVICES LIMITED

3RD TO 6TH FLOOR, INTERNATIONAL INFOTECH PARK, TOWER NO.5, VASHI RAILWAY STATION COMPLEX, VASHI, NAVI MUMBAI, MAHARASHTRA - 400703, INDIA

B11511284

 

* Date of charge modification

 

 

UNSECURED LOANS

 

PARTICULARS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

LONG-TERM BORROWINGS

 

 

Deposits

0.000

3.897

Loans and Advances from related parties 

50.891

62.915

 

 

 

Total

 

50.891

66.812

 

 

BACKGROUND OF THE COMPANY

 

Subject was incorporated on 10th April, 2007 under the provisions of Part IX of the Companies Act, 1956. The Company is in the business of manufacturing of dye intermediates and bulk drug intermediates. 

 

 

CONTINGENT LIABILITIES:

 

Particulars

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

a. Disputed Demand of Income Tax for Asst. Year 2008-09

0.000

3.784

b. Disputed Demand of Gujarat Value Added Tax for Acct. Year 2008-09 pending before the Gujarat Value Added Tax-Tribunal in Ahmedabad

0.000

2.465

c. Estimated amounts of Employees Retirement Benefits in respect of

 

 

Leave Encashment

0.456

0.412

Bonus

0.589

0.498

Gratuity

0.175

0.139

d. Disputed demand of Office of the Commissioner of Central Excise, Ahmedabad-I Commissionerate

3.240

0.000


FIXED ASSETS:

 

·         Air Conditioner

·         Vehicles

·         Building

·         Computer and Peripherals

·         Electrical Installation

·         Laboratory Equipments

·         Office Equipment

·         Plant and Machinery

 

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. 63.40

UK Pound

1

Rs. 95.42

Euro

1

Rs. 68.49

 

 

INFORMATION DETAILS

 

Information Gathered by :

REK

 

 

Analysis Done by :

KAR

 

 

Report Prepared by :

BVA

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

3

PAID-UP CAPITAL

1~10

3

OPERATING SCALE

1~10

2

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

2

--PROFITABILITY

1~10

2

--LIQUIDITY

1~10

2

--LEVERAGE

1~10

2

--RESERVES

1~10

2

--CREDIT LINES

1~10

2

--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

 

20

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                  Payment record (10%)

Credit history (10%)                   Market trend (10%)                                Operational size (10%)

 

 

RATING EXPLANATIONS

 

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

--

NB

                                       New Business

 

--

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.