MIRA INFORM REPORT
|
Report No. : |
335590 |
|
Report Date : |
05.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
MICO PLAST INDUSTRIES PRIVATE LIMITED (w.e.f.25.05.2005) |
|
|
|
|
Formerly Known
As : |
MICO PLAST INDUSTRIES LIMITED (w.e.f.03.02.1995) MICO PLAST INDUSTRIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
55, Vysarpadi Co-Operative Industrial Estate, Vysar Padi, Chennai –
600039, Tamilnadu |
|
Tel. No.: |
91-44-25523925/ 25523965 |
|
|
|
|
Country : |
India |
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|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
25.06.1991 |
|
|
|
|
Com. Reg. No.: |
18-021005 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 27.410 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U52599TN1991PLC021005 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHEM01303B |
|
|
|
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PAN No.: [Permanent Account No.] |
AAACM6176C |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturing of Laminated Films, Stand-up Pouches,
Zip-lock Pouches, |
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|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 240000 |
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|
Status : |
Moderate |
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|
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Mico Plast Industries Private Limited incorporated on 25th
June 1991 and it is an established company having moderate track record. The company possesses a below average financial profile marked by
modest networth base and huge financial leverage as well as other liabilities
along with highly working capital intensive operations. Management has witnessed an increase in its revenue, whereas has
reported a loss from its modest scale of operations during FY14. However, trade relations seem to be fair. Business is active. Payment
terms are reported as slow. 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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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
31-03-2013.
INFORMATION PARTED BY
|
Name : |
Ms. Uma Maheshwari |
|
Designation : |
Account Head |
|
Contact No.: |
91-9940100228 |
|
Date : |
22.04.2015 |
LOCATIONS
|
Registered Office and Factory 1 : |
55,Vysarpadi Co-Operative Industrial Estate, Vysar padi, Chennai –
600039, Tamilnadu, India |
|
Tel. No.: |
91-44-25523925/ 25523965 |
|
Mobile No.: |
91-9940100228 (Ms. Uma Maheshwari) |
|
Fax No.: |
91-44-25523307 |
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E-Mail : |
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|
Website : |
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|
|
|
Factory 2 : |
No: 19, Chinnapuliyur Village, Satyavedu Road, Gummudipundy TK,
Thiruvallur - 601206, Tamilnadu, India
|
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Naresh Kumar Rangraj |
|
Designation : |
Director |
|
Address : |
55, Vysarpadi Co-Operative Industrial Estate, Vysar padi, Chennai –
600039, Tamilnadu, India |
|
Date of Birth/Age : |
22.01.1971 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
10.06.1994 |
|
PAN No.: |
AAKPK1199A |
|
DIN No.: |
00157192 |
|
|
|
|
Name : |
Mr. Suraj Kumari Agarchand |
|
Designation : |
Director |
|
Address : |
55, Vysarpadi Co-Operative Industrial Estate, Vysar padi, Chennai –
600039, Tamilnadu, India |
|
Date of Birth/Age : |
20.10.1962 |
|
Qualification : |
Under Graduate |
|
Date of Appointment : |
25.06.1991 |
|
PAN No.: |
AAKPK1198B |
|
DIN No.: |
00339258 |
|
|
|
|
Name : |
Mrs. Sumithra Naresh |
|
Designation : |
Director |
|
Address : |
55, Vysarpadi Co-Operative Industrial Estate, Vysar padi, Chennai –
600039, Tamilnadu, India |
|
Date of Birth/Age : |
19.08.1973 |
|
Qualification : |
Under Graduate |
|
Date of Appointment : |
25.06.1991 |
|
PAN No.: |
AAWPS8622E |
|
DIN No.: |
00339337 |
|
|
|
|
Name : |
Mr. Agarchand Rangraj |
|
Designation : |
Managing director |
|
Address : |
55, Vysarpadi Co-Operative Industrial Estate, Vysar padi, Chennai –
600039, Tamilnadu, India |
|
Date of Birth/Age : |
22.10.1962 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
24.04.2007 |
|
PAN No.: |
AAFPR4622N |
|
DIN No.: |
01272597 |
KEY EXECUTIVES
|
Name : |
Ms. Uma Maheshwari |
|
Designation : |
Account Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
R Agar Chand |
|
722265 |
|
R |
|
70515 |
|
B Rangaraj |
|
86265 |
|
R Naresh Kumar |
|
761265 |
|
A Suraj Kumari |
|
420015 |
|
M Saremal Jain |
|
16515 |
|
|
|
16515 |
|
|
|
390000 |
|
A Sandhay |
|
219600 |
|
Deekay Estate (Private) Limited, India |
|
3000 |
|
Prabhav Industries, India |
|
10000 |
|
Empower Industries India |
|
10050 |
|
Khushi Industries Limited, India |
|
10000 |
|
Avance Technologies limited, India |
|
5000 |
|
|
|
|
|
Total |
|
2741005 |
AS ON 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of
Holding |
|
Bodies corporate |
1.39 |
|
Directors or relatives of Directors |
98.61 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Laminated Films, Stand-up Pouches,
Zip-lock Pouches, |
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Products : |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
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Products : |
Not Available |
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Countries : |
Not Available |
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Imports : |
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Products : |
Not Available |
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Countries : |
Not Available |
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Terms : |
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Selling : |
Not Available |
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Purchasing : |
Not Available |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Wholesalers, Retailers and Manufacturer
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No. of Employees : |
Not Available |
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Bankers : |
· Industrial Development Bank of India Limited, IDBI Tower, WTC Complex, Cuffe Parade, Mumbai - 400005, Maharashtra, India · Bank of Baroda 28; Rajaji Salai, Chennai Main Branch, Chennai - 600001, Tamil Nadu, India |
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Facilities : |
|
|
Auditors : |
|
|
Name : |
B P Jain and Company Chartered Accountants |
|
Address : |
2 Gee Minar, 23, College Road, Chennai – 600006, Tamilnadu, India |
|
Tel No. |
91-44-28273871/ 28224212 |
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Fax: |
91-44-28255596 |
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Email: |
|
|
PAN: |
AADFB1001F |
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|
|
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Memberships : |
-- |
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|
|
|
Collaborators : |
-- |
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|
|
Related Party : |
Agarchand and Sons |
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorized Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 80.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,741,005 |
Equity Shares |
Rs.10/- each |
Rs. 27.410 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 |
27.410 |
27.410 |
27.410 |
|
(b) Reserves & Surplus |
56.613 |
58.322 |
53.269 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
1.278 |
1.278 |
1.278 |
|
Total
Shareholders’ Funds (1) + (2) |
85.301 |
87.010 |
81.957 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
223.090 |
116.764 |
54.591 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c)
Other long term liabilities |
119.839 |
51.454 |
45.169 |
|
(d)
long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
342.929 |
168.218 |
99.760 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
10.982 |
3.447 |
5.017 |
|
(b)
Trade payables |
7.506 |
4.265 |
7.000 |
|
(c)
Other current liabilities |
0.395 |
3.014 |
1.568 |
|
(d)
Short-term provisions |
2.991 |
1.886 |
1.774 |
|
Total
Current Liabilities (4) |
21.874 |
12.612 |
15.359 |
|
|
|
|
|
|
TOTAL |
450.104 |
267.840 |
197.076 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
201.323 |
72.971 |
45.772 |
|
(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) |
5.501 |
0.038 |
0.288 |
|
(d) Long-term Loan
and Advances |
16.320 |
54.195 |
33.416 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
223.144 |
127.204 |
79.476 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.010 |
0.010 |
0.010 |
|
(b)
Inventories |
78.661 |
47.044 |
36.409 |
|
(c)
Trade receivables |
125.941 |
85.657 |
67.009 |
|
(d)
Cash and cash equivalents |
5.702 |
3.359 |
9.688 |
|
(e)
Short-term loans and advances |
0.000 |
0.000 |
0.000 |
|
(f)
Other current assets |
16.646 |
4.566 |
4.484 |
|
Total
Current Assets |
226.960 |
140.636 |
117.600 |
|
|
|
|
|
|
TOTAL |
450.104 |
267.840 |
197.076 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
470.650 |
387.110 |
339.556 |
|
|
|
Other Income |
3.124 |
3.439 |
8.930 |
|
|
|
TOTAL (A) |
473.774 |
390.549 |
348.486 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
386.194 |
318.000 |
276.254 |
|
|
|
Employees benefits expense |
25.664 |
23.639 |
16.739 |
|
|
|
Other expenses |
36.784 |
25.265 |
27.872 |
|
|
|
TOTAL (B) |
448.642 |
366.904 |
320.865 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
25.132 |
23.645 |
27.621 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
18.758 |
10.092 |
10.844 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
6.374 |
13.553 |
16.777 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
13.547 |
6.078 |
5.627 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
(7.173) |
7.475 |
11.150 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(5.463) |
2.421 |
0.402 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER
TAX (G-H) (I) |
(1.710) |
5.054 |
10.748 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(0.62) |
1.84 |
3.92 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Cash generated from operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net Cash flow from (used in) Operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(0.36) |
1.31 |
3.17 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
5.34 |
6.11 |
8.13 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(1.61) |
2.79 |
5.67 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.08) |
0.09 |
0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.74 |
1.38 |
0.73 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
10.38 |
11.15 |
7.66 |
Total Liability = Short-term Debt + Long-term Debt + Current Maturities
of Long-term debts
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 |
27.410 |
27.410 |
27.410 |
|
Reserves & Surplus |
53.269 |
58.322 |
56.613 |
|
Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
1.278 |
1.278 |
1.278 |
|
Net
worth |
81.957 |
87.010 |
85.301 |
|
|
|
|
|
|
Long-term borrowings |
54.591 |
116.764 |
223.090 |
|
Short term borrowings |
5.017 |
3.447 |
10.982 |
|
CURRENT MATURITIES OF LONG-TERM DEBTS |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
59.608 |
120.211 |
234.072 |
|
Debt/Equity ratio |
0.727 |
1.382 |
2.744 |
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) |
|
Sales |
339.556 |
387.110 |
470.650 |
|
|
|
14.005 |
21.580 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
339.556 |
387.110 |
470.650 |
|
Profit |
10.748 |
5.054 |
-1.710 |
|
|
3.17% |
1.31% |
-0.36% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
Yes |
|
19 |
Major customers |
Yes |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10204769 |
27/12/2013 * |
266,300,000.00 |
CORPORATION BANK |
MINT STREET BRANCH,
SOWCARPET, CHENNAI, TAMILNADU - 600079, INDIA |
B95153714 |
* Date of charge modification
OPERATION:
The Company has recorded a loss of Rs. 1.710 Million during the current year as compared to the profit of Rs. 5.054 Million in the previous year. The performance of the company shall improve in the years to come.
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
SHORT-TERM
BORROWINGS |
|
|
|
Loans and advances from related parties |
10.982 |
3.447 |
|
|
|
|
|
Total |
10.982 |
3.447 |
FIXED ASSETS:
· Building
· Office Building
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Plant and Machinery
· Air Compressor
· 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. 63.93 |
|
|
1 |
Rs. 99.82 |
|
Euro |
1 |
Rs. 70.05 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--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 |
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 |
|
28 |
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.