MIRA INFORM REPORT

 

 

Report No. :

334877

Report Date :

05.08.2015

 

IDENTIFICATION DETAILS

 

Name :

SURENDRA FORGINGS PRIVATE LIMITED

 

 

Registered Office :

902A, Valencia Cooperative Society Limited, Hiranandani Gardens, Powai, Mumbai - 400076, Maharashtra

Tel. No.:

91-22-25800024

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

12.11.1992

 

 

Com. Reg. No.:

11-069514

 

 

Capital Investment / Paid-up Capital :

Rs.7.485 Million

 

 

CIN No.:

[Company Identification No.]

U27200MH1992PTC069514

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

PNES09432D

 

 

PAN No.:

[Permanent Account No.]

AACCS3452K

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturing and Engineers of alloy steel forged parts. 

 

 

No. of Employees :

70  (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (26)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having moderate track record.

 

Rating takes into consideration, subject below average financial risk profile marked by low profitability, small cash balance and huge external borrowings taken by the company which may act a threat to its liquidity position.

 

Trade relations are fair. Business is active. Payment terms are reported to be slow but correct.

 

In the view of long track record of operations, the subject 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

 

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 31-03-2013.

 

 

INFORMATION PARTED BY (GENERAL DETAILS)

 

Name :

Mr. Kamlesh

Designation :

Marketing Manager

Contact No.:

91-22-25800024/25

Date :

03.08.2015

 

 

LOCATIONS

 

Registered Office :

902A, Valencia Cooperative Society Limited, Hiranandani Gardens, Powai, Mumbai - 400076, Maharashtra, India

Tel. No.:

91-22-25800024/25

Fax No.:

91-22-25823128

E-Mail :

Kamlesh.rediy@surendraforgings.com

surendraforgings@mtnl.net.in

 

 

Forging Unit :

Plot No. A-296, Road No. 16 Z, Wagle Industrial Estate, Near Esic Hospital, Thane – 400604, Maharashtra, India

Tel. No. :

91-22-25823472/25829621

 

 

Machining Unit :

Plot No. A-173, Road No. 10 Q, Wagle Industrial Estate, Thane – 400604, Maharashtra, India

Tel. No. :

91-22-25800024/25800025

Fax No. :

91-22-25823128

 

 

DIRECTORS

 

AS ON 24.09.2013

 

Name :

Mr. Surendra Rajmurti Misra

Designation :

Director

Address :

902A, Valencia Cooperative Society Limited, Hiranandani Gardens, Powai, Mumbai - 400076, Maharashtra, India

Date of Birth/Age :

22.05.1963

Date of Appointment :

12.11.1992

DIN No.:

01932950

 

 

Name :

Mr. Rohit Surendra Misra

Designation :

Additional director

Address :

902A, Valencia Cooperative Society Limited, Hiranandani Gardens, Powai, Mumbai - 400076, Maharashtra, India

Date of Birth/Age :

13.01.1987

Date of Appointment :

02.09.2009

DIN No.:

02700650

 

 

Name :

Mrs. Pushapa Surendra Misra

Designation :

Additional director

Address :

902A, Valencia Cooperative Society Limited, Hiranandani Gardens, Powai, Mumbai - 400076, Maharashtra, India

Date of Birth/Age :

10.08.1968

Date of Appointment :

02.09.2009

DIN No.:

02700669

 

 

KEY EXECUTIVES

 

Name :

Mr. Kamlesh

Designation :

Marketing Manager

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 24.09.2013

 

Names of Shareholders

 

No. of Shares

Surendra Rajmurti Misra

 

56135

Pushpa Misra

 

10

Rohit S Misra

 

10

Jagdish M. Misra

 

10

Shashikala R. Misra

 

18627

Jagdish .M .Misra Huf

 

10

Surendra R. Misra Huf

 

20

Indumati Misra

 

10

Jitendra J. Misra

 

10

Virendra J. Misra

 

10

Total

 

74852

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 24.09.2013

 

Category

Percentage

Directors or relatives of Directors

100.00

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturing and Engineers of alloy steel forged parts. 

 

 

Products :

Alloy steel forged parts

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

 

Selling :

Cheque

 

 

Purchasing :

Cheque

 

PRODUCTION STATUS: NOT AVAILABLE

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :

OEMS

 

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

70 (Approximately)

 

 

Bankers :

State Bank of India, Wagle Industrial Estate Branch, District Thane(West), Thane - 400601, Maharashtra, India

 

Banker Name

The Thane Janata Sahakari Bank Limited

Branch Address

Tip Top Plaza, Wagle Estate, Thane (West), Thane - 400604, Maharashtra, India

Person Name (With Designation)

91-22-25821442 (Continuously Ringing )

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

Facilities :

(Rs. In Million)

 

SECURED LOAN

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

Term Loans From Banks

 

 

Loan From Kotak Mahindra Car Loan

0.000

0.066

LOAN TJSB MID TERM

0

0

Term Loan 137

0.000

4.416

Term Loan 155(ALTIS)

0.000

0.236

Term Loan 174(Heat Treatment)

3.786

5.260

Term Loan 198(Sx4)

0.106

0.415

Term Loan 90

4.277

7.801

Term Loan M-231

6.137

0.000

SHORT TERM BORROWING

 

 

Term loans From Banks

TJSB ( Cash Credit Account)

( Secured by Hypothecation of Stock In - Trade and Debtors)

50.986

38.027

Total

65.292

56.221

 

Auditors :

 

Name :

Jayesh R Shah and Associates

Chartered Accountant

Address :

321/02, Siddhivinayak Cooperative Housing Society Limited, Hingwala Lane, Ghatkopar East, Mumbai – 400077, Maharashtra, India

Mobile No.:

91-9820006820

Fax No.:

91-22-25010917

E-Mail :

jayeshshah2009@gmail.com

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

AAVPS3735K

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associates/Subsidiaries :

--

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

75000

Equity Shares

Rs.100/- each

Rs. 7.500 Million

 

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

74852

Equity Shares

Rs.100/- each

Rs. 7.485 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

7.485

7.485

7.485

(b) Reserves & Surplus

5.517

5.163

25.765

(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)

13.002

12.648

33.250

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

48.449

57.799

70.341

(b) Deferred tax liabilities (Net)

3.795

3.555

3.447

(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)

52.244

61.354

73.788

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

50.986

38.027

43.989

(b) Trade payables

98.169

82.453

101.482

(c) Other current liabilities

0.300

0.300

0.000

(d) Short-term provisions

4.755

3.389

2.404

Total Current Liabilities (4)

154.210

124.169

147.875

 

 

 

 

TOTAL

219.456

198.171

254.913

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

95.189

95.234

103.681

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

1.751

0.407

0.508

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

0.500

0.500

0.500

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

2.173

2.155

2.095

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

99.613

98.296

106.784

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

39.527

26.149

49.496

(c) Trade receivables

64.445

61.503

82.019

(d) Cash and cash equivalents

1.989

1.564

1.711

(e) Short-term loans and advances

0.337

0.342

0.192

(f) Other current assets

13.545

10.317

14.711

Total Current Assets

119.843

99.875

148.129

 

 

 

 

TOTAL

219.456

198.171

254.913

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS                                                    

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

414.407

362.781

422.358

 

Other Income

1.115

0.416

0.167

 

TOTAL (A)

415.522

363.197

422.525

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

248.045

231.002

264.349

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

1.470

(0.547)

(1.846)

 

Employees benefits expense

35.145

31.690

29.303

 

Other expenses

107.376

93.192

102.061

 

TOTAL (B)

392.036

355.337

393.867

 

 

 

 

 

Less

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)

23.486

7.860

28.658

 

 

 

 

 

Less

FINANCIAL EXPENSES (D)

10.842

15.816

16.227

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)

12.644

(7.956)

12.431

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION (F)

10.542

11.695

11.180

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX (E-F)   (G)

2.102

(19.651)

1.251

 

 

 

 

 

Less

TAX (H)

0.267

0.108

0.541

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX  (G-H)   (I)

1.835

(19.759)

0.710

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

25.00

(263.97)

9.49

 

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

NA

NA

NA

Cash generated from operations

NA

NA

NA

Net cash flows from (used in) operations

NA

NA

NA

 

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

0.44

(5.45)

0.17

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

5.67

2.17

6.79

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

0.97

(9.96)

0.49

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.16

(1.55)

0.04

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

7.65

7.58

3.44

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

0.78

0.80

1.00

 

 

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

7.485

7.485

7.485

Reserves & Surplus

25.765

5.163

5.517

Money received against share warrants

0.000

0.000

0.000

 Share Application money pending allotment

0.000

0.000

0.000

Net worth

33.250

12.648

13.002

 

 

 

 

long-term borrowings

70.341

57.799

48.449

Short term borrowings

43.989

38.027

50.986

Total borrowings

114.330

95.826

99.435

Debt/Equity ratio

3.438

7.576

7.648

 

 

 

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

422.358

362.781

414.407

 

 

(14.106)

14.231

 

 

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

422.358

362.781

414.407

Profit

0.710

(19.759)

1.835

 

0.17%

(5.45%)

0.44%

 

 

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

Yes

8

Designation of contact person

Yes

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

11

Pan Card No. of Proprietor / Partners

No

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

Yes

17

Details of sister concerns

No

18

Major suppliers

No

19

Major customers

No

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

Yes

35

Negative Reporting by Auditors in the Annual Report

No

 

NOTE: Registered office of the company has been shifted from 703 Gulshan, 1 Juhu Cross Lane, Andheri West, Mumbai – 400058, Maharashtra, India to the present address w.e.f. 01.09.2009

 

OPERATIONS AND PROSPECTS

 

Director have put efforts to increase the profits of the Company. The Company is considering various steps to develop new lines in production as well as try diversified the activities. The Directors are hopeful of good prospects of your Company.

 

UNSECURED LOAN

(Rs. In Million)

Particulars

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

Loans And Advances From Related Parties

 

 

M/S. S.R.Misra (HUF)

0.601

0.845

M/S. J.M.Misra (HUF)

0.917

0.925

Mrs. Shashikala R Misra

13.635

15.049

Mr. J.M. Misra

0.008

0.016

Mr. Jitendra Misra

0.099

0.144

Mr. Virendra Misra

0.037

0.048

Mrs. Indumati Misra

0.027

0.035

Mrs. Pushpa Misra

4.384

5.247

Mr. Rohit Misra

1.045

1.181

Mr. S R Misra

13.390

16.115

Total

34.143

39.605

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10553785

22/12/2014

30,000,000.00

TJSB SAHAKARI BANK LIMITED

TIP TOP PLAZA, WAGLE ESTATE BRANCH, WAGLE ESTATE,
THANE(W), THANE, MAHARASHTRA - 400604, INDIA

C45969482

2

10482325

28/01/2014

11,000,000.00

TJSB SAHAKARI BANK LIMITED

TIP TOP PLAZA, WAGLE ESTATE, THANE (WEST), THANE,
MAHARASHTRA - 400604, INDIA

B98393614

3

10275733

09/03/2011 *

7,500,000.00

THE THANE JANATA SAHAKARI BANK LIMITED

TIP TOP PLAZA, WAGLE ESTATE BRANCH, WAGLE ESTATE,,
THANE, THANE, MAHARASHTRA - 400604, INDIA

B09620618

4

10249814

20/09/2010

1,500,000.00

THE THANE JANATA SAHAKARI BANK LIMITED

TIP TOP PLAZA, WAGLE ESTATE BRANCH, WAGLE ESTATE,,
THANE, THANE, MAHARASHTRA - 400604, INDIA

A97999270

5

10171981

20/04/2010 *

500,000.00

THE THANE JANATA SAHAKARI BANK LIMITED

TIP TOP PLAZA, WAGLE ESTATE BRANCH, WAGLE ESTATE,
THANE, THANE, MAHARASHTRA - 400604, INDIA

A87446027

6

10132565

04/03/2011 *

60,000,000.00

THE THANE JANATA SAHAKARI BANK LIMITED

TIP TOP PLAZA, WAGLE ESTATE BRANCH, WAGLE ESTATE,,
THANE, THANE, MAHARASHTRA - 400604, INDIA

B09068495

7

90157381

08/01/2000

596,000.00

THE THANE JANATA SAHAKARI BANK LTD

WAGLE INDUSTRIAL ESTATE BRANCH, THANE, MAHARASHTRA
- 400604, INDIA

-

 

* Date of charge modification

 

FIXED ASSETS

 

·         Land

·         Office Premises

·         Building

·         Staff Quarters

·         Plant and Machineries

·         Motor Cycle

·         Tools

·         Furniture

·         Office Equipment

·         Electrical Fittings

·         Car

·         Computer

·         Mobile Hand Set

·         Water Cooler

 

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.63.93

UK Pound

1

Rs.99.82

Euro

1

Rs.70.05

 

 

INFORMATION DETAILS

 

Information Gathered by :

KAM

 

 

Analysis Done by :

SAN

 

 

Report Prepared by :

KVT

 

 

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

--PROFITABILITY

1~10

2

--LIQUIDITY

1~10

2

--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

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

26

 

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.