MIRA INFORM REPORT

 

 

Report No. :

337735

Report Date :

20.08.2015

 

 

 

 

Tel. No.:

91 022 25004848

 

 

IDENTIFICATION DETAILS

 

Name :

MAKWELL ORGANICS PRIVATE LIMITED

 

 

Registered Office :

A-506, Bhaveshwar Plaza, Opposite Shreyas Cinema, LBS Marg, Ghatkopar, Mumbai – 400 086, Maharashtra

Tel. No.:

91-22-25004848

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

13.10.1988

 

 

Com. Reg. No.:

11-049205

 

 

Capital Investment / Paid-up Capital :

Rs.0.500 million

 

 

CIN No.:

[Company Identification No.]

U24100MH1988PTC049205

 

 

IEC No.:

0399043934

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUMM09250D

 

 

PAN No.:

[Permanent Account No.]

AABCM2758B

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer of Plasticizers and Additives for PVC.

 

 

No. of Employees :

Information declined by the Management. 

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (45)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

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

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company incorporated during the year 1988. It has a satisfactory track record.

 

For the financial year 2014, the company has reported healthy operational activity and good business scale marked by topline growth of 2.5% along with profit margin of 4.6%.

 

Further, the company has healthy financial risk profile backed by decent networth position along with favorable gap between trade payables and receivables. Also, the directors of the company are respectable and well experienced.

 

Trade relations are reported as fair. Business is active. Payment terms are usually correct.

 

In view of long business track record, the company can be considered for business dealings at usual trade terms and conditions.

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

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 DECLINED BY

 

Name :

Mr. Kalpesh

Designation :

Accountant

Contact No.:

91-22-25004848

Date :

20.08.2015

 

 

LOCATIONS

 

Registered Office :

A-506, Bhaveshwar Plaza, Opposite Shreyas Cinema, LBS Marg, Ghatkopar, Mumbai – 400 086, Maharashtra, India 

Tel. No.:

91-22-25004848/ 40464848 (30 Lines)

Fax No.:

91-22-25004800/ 40464800

E-Mail :

makwell@vsnl.com

sales@makwellgroup.com

Website :

http://www.makwellgroup.com

Location :

Owned

 

 

Factory :

Plot No.57-D/A, 1st Phase, G.I.D.C., Vapi – 396 195, District Bulsar, Gujarat, India 

Tel. No.:

91-260-2425030/ 2423496/ 2423495

 

 

Warehouse :

Located at:

 

·         Bhiwandi, Maharashtra

 

 

DIRECTORS

 

AS ON 30.09.2014

 

Name :

Mr. Shashikant Nemchand Thakker

Designation :

Director

Address :

1307, Saihyadri, Neelkanth Vally, Rajawadi, Ghatkopar (East), Mumbai – 400 077, Maharashtra, India

Date of Birth/Age :

29.05.1938

Date of Appointment :

13.10.1988

DIN No.:

00300693

PAN No.:

AACPT9905F

 

Name :

Mr. Hiren Shashikant Thakker

Designation :

Director

Address :

1307, Sahyadri, Neelkanth Vally, 7th Road, Rajawadi, Ghatkopar (East), Mumbai – 400 077, Maharashtra, India

Date of Birth/Age :

14.11.1965

Qualification :

Graduate

Date of Appointment :

13.10.1988

DIN No.:

01272661

PAN No.:

AACPT3848H

 

Name :

Mr. Amresh Kishor Thakker

Designation :

Director

Address :

10, Natraj Building, R.B. Mehta Road, Ghatkopar (East), Mumbai – 400 077, Maharashtra, India

Date of Birth/Age :

21.02.1972

Qualification :

Graduate

Date of Appointment :

30.08.1997

DIN No.:

01501203

PAN No.:

AACPT3846K

 

Name :

Mr. Zubin Kishor Thakker

Designation :

Director

Address :

10, Natraj, R.B. Mehta Marg, Ghatkopar (East), Mumbai – 400 077, Maharashtra, India

Date of Birth/Age :

11.04.1974

Date of Appointment :

30.08.1997

DIN No.:

00300594

PAN No.:

AACPT3845L

 

Name :

Mr. Vishal Shashikant Thakker

Designation :

Director

Address :

1307, Sahyadri, Neelkanth Vally, Rajawadi, Ghatkopar (East), Mumbai – 400 077, Maharashtra, India

Date of Birth/Age :

16.07.1974

Qualification :

Graduate

Date of Appointment :

30.08.1997

DIN No.:

01408345

PAN No.:

AACPT3847J

 

 

Name :

Mrs. Indumati Kishor Thakker

Designation :

Whole-Time Director

Address :

10, Natraj, R.B. Mehta Marg, Ghatkopar (East), Mumbai – 400 077, Maharashtra, India

Date of Appointment :

21.01.2015

DIN No.:

02325367

PAN No.:

AACPT9885A

 

 

KEY EXECUTIVES

 

Name :

Mr. Kalpesh

Designation :

Accountant

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2014

 

Names of Shareholders

 

No. of Shares

Percentage of Holding

Thakker Nemchand Shashikant

10000

20.00

Thakker Nemchand Kishor (Yet to receive details of transmission)

10000

20.00

Thakker Shashikant Prafulla

2500

5.00

Thakker Kishor Indumati

5000

10.00

Thakker Shashikant Hiren

2500

5.00

Thakker Kishor Amresh

5000

10.00

Vora Ashok Kaushika

2500

5.00

Thakker Hiren Mita

2500

5.00

Thakker Shashikant Vishal

5000

10.00

Thakker Kishor Zubin

5000

10.00

Total

50000

100.00

 

 

AS ON 30.09.2014

 

Equity Share Breakup

 

Percentage of Holding

Category

 

 

Directors or relatives of directors

 

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of Plasticizers and Additives for PVC.

 

 

Products :

Item Code No.

 

Product Description

34039100

Lubricating preparations (including cutting-oil preparations, bolt or nut release preparations, anti-rust or anti-corrosion preparations and mould release preparations, based on lubricants) and preparations of a kind used for the oil or grease treatment of textile materials, leather, furskins or other materials, but excluding preparations containing, as basic constituents, 70% or more by weight of petroleum oils or of oils obtained from bituminous minerals ÍÍÍ- containing petroleum oils or oils obtained from bituminous minerals. preparations for the treatment of textile materials, leather, furskins or other materials

29161990

Unsaturated Acyclic

15180039

Animal or vegetable fats and oils and their fractions, boiled, oxidised, dehydrated, sulphurised, blown, polymerised by heat in vacuum or in inert gas or otherwise chemically modified, excluding those of heading 1516; inedible mixtures or preparations of animal or vegetable fats or oils or of fractions of different fats or oils of this chapter, not elsewhere specified or included

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

 

Countries :

  • Nepal
  • Turkey

 

 

Imports :

Not Divulged

 

 

Terms :

 

Selling :

Not Divulged

 

 

Purchasing :

Not Divulged

 

 

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 :

Payment Behaviour

Market Goodwill

Overall

Not Divulged

Not Divulged

Not Divulged

Remark:

Not Divulged

 

 

Customers :

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 :

Product Quality

Delivery Behaviour

Overall

Not Divulged

Not Divulged

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

Information declined by the Management.

 

 

Bankers :

Banker Name

Citibank

Branch Address

Not Divulged

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 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

 

·         ICICI Bank Limited

·         Bank of Baroda

 

 

Facilities :

Secured Loans

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

LONG-TERM BORROWINGS

 

 

Other loans and advances

(Hypothecation of Motor vehicle)

0.588

0.931

SHORT-TERM BORROWINGS

 

 

Other Loans and Advances

(Cash credit facility availed from Citi Bank and ICICI Bank is secured against factory building, stock and personal guarantee of directors.)

 

 

Citi Bank O/D A/c

(1.855)

(6.602)

ICICI Bank O/D A/c

14.671

13.910

Citi Bank Nassau - Buyers Credit

0.000

9.656

Total

13.404

17.895

 

 

 

Auditors :

 

Name :

Subodh Vora and Company

Chartered Accountants

Address :

D-723/724, Neelkanth Business Park, Opposite Vidyavihar Railway Station, Vidyavihar (West), Mumbai – 400 086, Maharashtra, India

Tel. No.:

91-22-67983500/ 67983550

Fax No.:

91-22-25148595

E-Mail :

subodh@scvora.com

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

AABPV7681F

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associates :

Makwell Plastisizers Private Limited, India (CIN No.: U25209MH1992PTC070204)

 

 

CAPITAL STRUCTURE

 

AS ON 30.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

50000

Equity Shares

Rs.10/- each

Rs.0.500 million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

50000

Equity Shares

Rs.10/- each

Rs.0.500 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

0.500

0.500

0.500

(b) Reserves & Surplus

171.509

118.362

89.121

(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)

172.009

118.862

89.621

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

79.313

79.226

95.323

(b) Deferred tax liabilities (Net)

1.253

1.153

1.259

(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)

80.566

80.379

96.582

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

12.816

16.964

85.999

(b) Trade payables

33.614

55.586

82.499

(c) Other current liabilities

6.614

3.299

4.104

(d) Short-term provisions

52.935

26.879

12.597

Total Current Liabilities (4)

105.979

102.728

185.199

 

 

 

 

TOTAL

358.554

301.969

371.402

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

21.003

15.452

14.581

(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)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

0.000

0.000

0.000

(e) Other Non-current assets

1.061

1.598

1.567

Total Non-Current Assets

22.064

17.050

16.148

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

73.547

81.964

132.296

(c) Trade receivables

195.227

159.268

200.929

(d) Cash and cash equivalents

6.672

7.061

8.251

(e) Short-term loans and advances

0.253

0.265

0.138

(f) Other current assets

60.791

36.361

13.640

Total Current Assets

336.490

284.919

355.254

 

 

 

 

TOTAL

358.554

301.969

371.402

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

Total Turnover

1133.353

1104.890

953.053

 

 

Other Income

NA

NA

NA

 

 

TOTAL                                    

NA

NA

NA

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

TOTAL                                    

NA

NA

NA

 

 

 

 

 

 

PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

82.066

45.670

40.536

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                    

2.764

2.281

2.193

 

 

 

 

 

 

PROFIT/ (LOSS) BEFORE TAX

79.302

43.382

38.343

 

 

 

 

 

Less

TAX                                                                 

26.155

14.176

12.693

 

 

 

 

 

 

PROFIT/ (LOSS) AFTER TAX

53.147

29.206

25.650

 

 

 

 

 

 

SURPLUS: OPENING BALANCE

118.362

89.121

63.478

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

82.255

34.049

6.283

 

 

 

 

 

 

CIF VALUE OF IMPORTS

NA

204.078

0.398

 

 

 

 

 

 

Earnings/ (Loss) Per Share (Rs.)

1062.94

584.12

513.00

 

 

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

(70.032)

Net cash flows from (used in) operations

54.487

116.971

(70.032)

Net cash flows from (used in) operating activities

28.237

101.953

(82.181)

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT/Total Turnover)

(%)

4.69

2.64

2.69

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

22.12

14.37

10.32

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.46

0.36

0.43

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

0.54

0.81

2.02

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

3.18

2.77

1.92

 

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

0.500

0.500

0.500

Reserves & Surplus

89.121

118.362

171.509

Share Application money pending allotment

0.000

0.000

0.000

Net worth

89.621

118.862

172.009

 

 

 

 

Long-term borrowings

95.323

79.226

79.313

Short term borrowings

85.999

16.964

12.816

Current Maturities of Long term debt

0.000

0.000

0.000

Total borrowings

181.322

96.190

92.129

Debt/Equity ratio

2.023

0.809

0.536

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2012

31.03.2013

31.03.2014

 

Rs. In Million

Rs. In Million

Rs. In Million

Total Turnover

953.053

1104.890

1133.353

 

 

15.932

2.576

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

Rs. In Million

Rs. In Million

Rs. In Million

Total Turnover

953.053

1104.890

1133.353

Profit

25.650

29.206

53.147

 

2.69%

2.64%

4.69%

 

 

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

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)

Yes

16

No. of employees

No

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

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

 

 

UNSECURED LOAN

 

PARTICULARS

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

LONG TERM BORROWINGS

 

 

Loans and advances from directors

18.510

47.365

Loans and advances from others

60.215

30.930

Total

78.725

78.295

 

 

INDEX OF CHARGES:

 

S. No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10266408

26/09/2011 *

50,000,000.00

ICICI BANK LIMITED

LANDMARK RACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA

B24693970

2

90237708

21/10/2010 *

60,000,000.00

CITIBANK N. A.

TRENT HOUSE, 2ND FLOOR, G BLOCK, PLOT NO.C60, BANDRA KURLA COMPLEX, BANDRA (EAST), MUMBAI, MAHARASHTRA 
- 400051, INDIA

A97228092

3

90237662

01/06/2012 *

90,000,000.00

CITIBANK N. A.

TRENT HOUSE, 2ND FLOOR, G BLOCK, PLOT NO.C60, BANDRA KURLA COMPLEX, BANDRA (EAST), MUMBAI, MAHARASHTRA 
- 400051, INDIA

B40814642

 

* Date of charge modification

 

 

FIXED ASSETS:

 

·         Land 

·         Buildings

·         Plant and Equipment

·         Furniture and Fixtures

·         Vehicles

·         Office Equipment

·         Computer Equipment

 

 

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.65.25

UK Pound

1

Rs.102.25

Euro

1

Rs.72.19                      

 

 

INFORMATION DETAILS

 

Information Gathered by :

NYA

 

 

Analysis Done by :

TRI

 

 

Report Prepared by :

SMN

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILITY

1~10

5

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--RESERVES

1~10

5

--CREDIT LINES

1~10

5

--MARGINS

-5~5

--

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

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

 

45

 

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

 

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

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

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

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

 

Unlimited

71-85

Aa

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

 

Large

56-70

A

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

 

Fairly Large

41-55

Ba

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

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

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

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

--

NB

                                       New Business

 

--

 

 

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.