MIRA INFORM REPORT

 

 

Report No. :

335804

Report Date :

12.08.2015

 

IDENTIFICATION DETAILS

 

Name :

DUGAR POLYMERS LIMITED (w.e.f.03.12.2009)

 

 

Formerly Known As :

DUGAR POLYMERS PRIVATE LIMITED

 

 

Registered Office :

Plot No.26, Icchapore, Bhatpore, G.I.D.C. Hazira, Surat – 394510, Gujarat

Tel. No.:

91-260-2669335/ 36/ 6540022/ 3296871

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

20.02.2003

 

 

Com. Reg. No.:

04-042041

 

 

Capital Investment / Paid-up Capital :

Rs. 17.207 Million

 

 

CIN No.:

[Company Identification No.]

U17119GJ2003PLC042041

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

Not Available

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

Line of Business :

Manufacturer and Exporter of Plastics Sheets, Rods and Pipes.

 

 

No. of Employees :

70 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (32)

 

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 is constrained on account of company’s moderate financial risk profile marked by modest networth along with huge borrowings and leverage balance sheet profile of the company.

 

However, trade relations are reported as fair. Payments are reported to be slow but correct.

 

In view of leverage balance sheet profile, 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.

 

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

ICRA

Rating

Fund based limits = B+

Rating Explanation

Risk prone credit quality and carries very high credit risk.

Date

September 2014

 

 

Rating Agency Name

ICRA

Rating

Non-Fund based limits = A4

Rating Explanation

Minimal degree of safety and very high credit risk.

Date

September 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 31-03-2013.

 

 

INFORMATION PARTED BY

 

Name :

Mr. Deepak Rao

Designation :

Accounts Head

Contact No.:

91-9374312309

Date :

07.08.2015

 

 

LOCATIONS

 

Registered Office/ Factory 1 :

Plot No.26, Icchapore, Bhatpore, G.I.D.C. Hazira, Surat – 394510, Gujarat, India

Tel. No.:

Not Available

Mobile No.:

91-9374312309 (Mr. Deepak Rao)

Fax No.:

Not Available

E-Mail :

dugarpolymers@hotmail.com

info@dugars.com

Website :

http://www.dugars.com

http://www.dugars.in

Location :

Owned

 

 

Head Office/ Factory 2 :

Survey No.351/1, Dadra Mahiyavancy Road, Behind Dadra Garden, Village Dadra, Silvassa – 396230, U.T. Dadra and Nagar Haveli, India

Tel. No.:

91-260-2669335/ 36/ 6540022/ 3296871

Fax No.:

91-260-2669337

 

 

Factory 3 :

Survey No.357/1/3, Behind Dadra Garden, Village Dadra, Silvassa – 396230, U.T. Dadra and Nagar Haveli, India

 

 

Branch Office 1 :

1-11-240/5/1, 5th Floor, Shamlal Building, Begumpet, Hyderabad, Andhra Pradesh, India

 

 

Branch Office 2 :

12/260, Shastrinagar, Khatodra, Surat – 395002, Gujarat, India

 

 

DIRECTORS

 

AS ON 30.09.2014

 

Name :

Mr. Rajesh Kumar Dugar

Designation :

Managing director

Address :

802, Shubham Tower, Daman Challa Road, Vapi – 396230, Gujarat, India

Date of Birth/Age :

23.11.1973

Date of Appointment :

20.02.2003

DIN No.:

00730059

 

 

Name :

Mrs. Renu Dugar

Designation :

Director

Address :

1-8-156/6 and 8A, 301, Mark Residency, PG Road, Secunderabad – 50003, Andhra Pradesh, India

Date of Birth/Age :

08.02.1971

Date of Appointment :

20.02.2007

DIN No.:

00235675

 

 

Name :

Mr. Manoj Kumar Dugar

Designation :

Director

Address :

1-8-156/6 and 8A, 301, Mark Residency, PG Road, Secunderabad – 50003, Andhra Pradesh, India

Date of Birth/Age :

25.05.1968

Date of Appointment :

20.02.2003

DIN No.:

00352733

 

 

KEY EXECUTIVES

 

Name :

Mr. Deepak Rao

Designation :

Accounts Head

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2014

 

Names of Shareholders

 

No. of Shares

 

Manoj Kumar Dugar

 

140310

Rajesh Kumar Dugar

 

222500

Renu M. Dugar

 

223000

Sushil Kumar Surana

 

27920

Surana Pratibha

 

11000

Dugar Taradevi

 

148750

Renu R. Dugar

 

82500

Amar Chand Bohara

 

15000

Bohara Chand Punam

 

10000

Bohara Sushiladevi

 

22500

Patel Dhanista

 

15000

Pramod Kumar Dugar

 

2500

Defodil Dealcom Private Limited, India

 

439610

Manoj Kumar Dugar (HUF)

 

1000

Pavan Goenka

 

12500

Vandana Goenka

 

2500

P.K. Goenka and Sons (HUF)

 

10000

Jignesh Dave

 

25000

Shivratan Parekh

 

65000

Agarwal Dilip

 

65000

Dhanraj Mali

 

50000

Lakshya Dugar Beneficiary Trust

 

65000

Kashish Dugar Beneficiary Trust

 

32000

Chirag Dugar

 

17140

 

 

AS ON 30.09.2014

 

Equity Share Breakup

Percentage of Holding

Category

 

Bodies corporate

25.55

Directors or relatives of directors

51.31

Other top fifty shareholders

23.14

 

 

Total

 

100.00

 

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Exporter of Plastics Sheets, Rods and Pipes.

 

 

Brand Names :

--

 

 

Agencies Held :

--

 

 

Exports :

 

Products :

Finished Goods

Countries :

Sri Lanka

 

 

Imports :

 

Products :

Raw Material

Countries :

Dubai

 

 

Terms :

 

Selling :

Cash and L/C

 

 

Purchasing :

Cash and L/C

 

 

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 :

70 (Approximately)

 

 

Bankers :

Bank Name:

Canara Bank

Branch:

Silvassa Branch, Prathmesh Apartment Tokar Kbada, Silvassa - 396230, Dadar Nagar Haveli, India

Person Name (with Designation):

Not Divulged

Contact Number:

91-260-2640035 (Ringing)

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

 

·         Bank of Baroda

Vapi Industrial Estate SSI Branch, C/M-14, Near Char Rasta GIDC, Vapi - 396195, Gujarat, India

 

·         State Bank of India

Bible House Branch, Hyderabad - 500003, Telangana, India

 

·         Central Bank of India

Bhatar Road Branch, Surat - 395001, Gujarat, India

 

 

Facilities :

SECURED LOANS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

LONG-TERM BORROWINGS

 

 

Term Loan – from Bank

2.252

5.858

Long term maturities of finance lease obligations

0.961

0.708

SHORT TERM BORROWINGS

 

 

Working Capital loan

284.323

248.680

Foreign Currency Loans – Buyers Credit

27.548

23.547

 

 

 

Total

 

315.084

278.793

 

Banking Relations :

--

 

 

Auditors :

 

Name :

S. Bhalotia and Associates

Chartered Accountants

Address :

1-11-240/5/1, First Floor, Dugar Arcade, Shyamlal Building, Begumpet, Hyderabad – 500016, Andhra Pradesh, India

Tel. No.:

91-40-40075151

E-Mail :

hyd@sbassociates.co.in

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

ABDFS9117L

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Enterprises over which above is able to exercise significant influence :

·         Welset Polypack Private Limited

·         Ayushman Merchants Private Limited

·         Defodil Dealcom Private Limited

 

 

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

 

 

 

 

1,720,730

Equity Shares

Rs. 10/- each

Rs. 17.207 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

17.207

17.207

17.207

(b) Reserves & Surplus

74.055

64.783

56.368

(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)

91.262

81.990

73.575

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

3.213

6.566

10.160

(b) Deferred tax liabilities (Net)

1.449

1.771

1.333

(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)

4.662

8.337

11.493

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

311.871

272.227

267.607

(b) Trade payables

119.716

56.204

31.538

(c) Other current liabilities

17.761

7.120

11.844

(d) Short-term provisions

3.548

4.515

4.443

Total Current Liabilities (4)

452.896

340.066

315.432

 

 

 

 

TOTAL

548.820

430.393

400.500

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

59.890

64.314

55.269

(ii) Intangible Assets

0.021

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

1.024

2.149

2.149

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

15.970

15.072

14.710

(e) Other Non-current assets

0.895

1.308

17.546

Total Non-Current Assets

77.800

82.843

89.674

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

79.285

87.585

91.604

(c) Trade receivables

341.513

217.009

173.743

(d) Cash and cash equivalents

33.311

29.726

28.456

(e) Short-term loans and advances

15.364

12.618

15.215

(f) Other current assets

1.547

0.612

1.808

Total Current Assets

471.020

347.550

310.826

 

 

 

 

TOTAL

548.820

430.393

400.500

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

Revenue from Operations

496.695

402.255

370.114

 

 

Other Operating Revenue

23.110

19.820

3.517

 

 

Other Income

1.899

0.236

11.761

 

 

TOTAL                                     (A)

521.704

422.311

385.392

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Materials Consumed

386.041

319.138

311.511

 

 

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

8.634

(5.081)

(17.510)

 

 

Employees benefits expense

10.733

8.996

8.081

 

 

Other expenses

54.680

40.620

33.151

 

 

TOTAL                                     (B)

460.088

363.673

335.233

 

 

 

 

 

 

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)     (C)

61.616

58.638

50.159

 

 

 

 

 

Less

FINANCIAL EXPENSES                                    (D)

39.695

37.462

31.918

 

 

 

 

 

 

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

21.921

21.176

18.241

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

9.698

9.247

8.090

 

 

 

 

 

 

PROFIT BEFORE TAX (E-F)                              (G)

12.223

11.929

10.151

 

 

 

 

 

Less

TAX                                                                  (H)

2.951

2.783

0.540

 

 

 

 

 

 

PROFIT AFTER TAX (G-H)                                (I)

9.272

9.146

9.611

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

Export Earnings (FOB Basis)

10.946

17.215

0.731

 

 

 

 

 

 

CIF VALUE OF IMPORTS

108.075

71.789

39.051

 

 

 

 

 

 

Earnings Per Share (Rs.)

5.39

5.32

5.59

 

 

PARTICULARS

 

 

 

31.03.2015

Sales Turnover (Approximately)

 

 

650.000

 

 

 

 

 

Expected Sales (2015-2016): Rs. 750.000 Million

 

The above information has been parted by Mr. Deepak Rao (Accounts Head)

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

PARTICULARS

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

 

 

 

Term Loan – from Bank

3.606

3.606

5.246

 

 

 

 

Cash generated from operations

NA

NA

NA

 

 

 

 

Net Cash flow from/ (used in) Operating Activities

(7.671)

(7.252)

(133.647)

 

 

KEY RATIOS

 

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

1.87

2.27

2.60

 

 

 

 

 

Operating Profit Margin

(PBDIT/Sales)

(%)

12.41

14.58

13.55

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

2.23

2.79

2.55

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.13

0.15

0.14

 

 

 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 

3.49

3.44

3.85

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.04

1.02

0.99

 

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

 

Particulars

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

17.207

17.207

17.207

Reserves & Surplus

56.368

64.783

74.055

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

0.000

0.000

0.000

Net worth

73.575

81.990

91.262

 

 

 

 

Long-term borrowings

10.160

6.566

3.213

Short term borrowings

267.607

272.227

311.871

CURRENT MATURITIES OF LONG-TERM DEBTS

5.246

3.606

3.606

Total borrowings

283.013

282.399

318.690

Debt/Equity ratio

3.847

3.444

3.492

 

 

 

 

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

370.114

402.255

496.695

 

 

8.684

23.478

 

 

 

 

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

370.114

402.255

496.695

Profit

9.611

9.146

9.272

 

2.60%

2.27%

1.87%

 

 

 

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)

Yes

16

No. of employees

Yes

17

Details of sister concerns

Yes

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

Yes

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

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10331479

17/09/2014 *

205,908,000.00

BANK OF BARODA

VAPI IND. ESTATE SSI BRANCH, C/M-14, NEAR CHAR RASTA GIDC, VAPI, GUJARAT - 396195, INDIA

C34337089

2

10280073

23/03/2011

205,908,000.00

BANK OF BARODA

VAPI IND. ESTATE SSI BRANCH, C/M-14, NEAR CHAR RASTA GIDC, VAPI, GUJARAT - 396195, INDIA

B10537108

3

10549286

01/01/2011

120,000,000.00

STATE BANK OF INDIA

SECUNDERABAD BRANCH, PATNY CENTRE, SECUNDERABAD, 
SECUNDERABAD, ANDHRA PRADESH - 500003, INDIA

B27723493

4

10355230

10/01/2015 *

200,000,000.00

STATE BANK OF INDIA

BIBLE HOUSE BRANCH, R P ROAD, HYDERABAD, TELANGANA - 500003, INDIA

C46135588

 

* Date of charge modification

 

 

CHANGE OF ADDRESS:

 

The Registered Office of the Company has been shifted from 12/260 Shastri Nagar, Khatodra, Surat - 395002, Gujarat, India to the present address w.e.f.07.12.2011.

 

 

FIXED ASSETS:

 

·         Leasehold Land

·         Freehold Land

·         Factory Building

·         Electrical Installation

·         Plant and Machinery

·         Furniture and Fixture

·         Office Equipment

·         Computer Software and Accessories

·         Vehicles 

 

 

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. 64.17

UK Pound

1

Rs. 99.85

Euro

1

Rs. 70.36

 

 

INFORMATION DETAILS

 

Information Gathered by :

KMN

 

 

Analysis Done by :

KAR

 

 

Report Prepared by :

BVA

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

4

PAID-UP CAPITAL

1~10

4

OPERATING SCALE

1~10

4

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

4

--PROFITABILIRY

1~10

4

--LIQUIDITY

1~10

3

--LEVERAGE

1~10

3

--RESERVES

1~10

3

--CREDIT LINES

1~10

3

--MARGINS

-5~5

--

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

YES

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

32

 

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.