MIRA INFORM REPORT

 

 

Report No. :

352328

Report Date :

03.12.2015

 

IDENTIFICATION DETAILS

 

Name :

RUKSHMANI SYNTEX PRIVATE LIMITED

 

 

Formerly Known As :

RUKSHMINI SILK MILLS PRIVATE LIMITED

 

 

Registered Office :

Sanjay Building 5-B, 47/ 48, Mittal Industrial Estate, Sir M. V. Road, Andheri (East), Mumbai-400059, Maharashtra

Tel. No.:

91-22-40302100

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

30.06.1988

 

 

Com. Reg. No.:

11-047893

 

 

Capital Investment / Paid-up Capital :

Rs. 12.400 Million

 

 

CIN No.:

[Company Identification No.]

U17121MH1988PTC047893

 

 

IEC No.:

0392003694

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUMR06228F

 

 

 

PAN No.:

[Permanent Account No.]

AAACR2507G

 

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer and Exporter of Suiting, Shirting and Furnishing Fabric. (Registered Documents)

 

 

No. of Employees :

Not Divulged

 

 

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

 

Maximum Credit Limit :

USD 548400

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having satisfactory track.

 

For the financial year ended 2014, the company has healthy operational activity marked by top line growth of 7.1% along with profitability margin of 4.4%.

 

The company has comfortable financial base along with favourable gap between trade payables and receivables and supported by extensive experience of its promoters.

 

Trade relations are fair. Business is active. Payments are usually correct.

 

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.

 

 

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

CRISIL

Rating

Long Term bank Facilities=BB+

Rating Explanation

Inadequate-credit-quality and high credit risk

Date

May, 2014

 

 

Rating Agency Name

CRISIL

Rating

Short Term bank Facilities=A4+

Rating Explanation

Minimal degree of safety and very high credit risk

Date

May, 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 31-03-2015.

 

 

INFORMATION DECLINED BY

 

Name :

Mr. Harish

Designation :

Accounts Manager

Contact No.:

91-22-40302100

Date :

30.11.2015

 

 

LOCATIONS

 

Registered Office :

Sanjay Building 5-B, 47/ 48, Mittal Industrial Estate, Sir M. V. Road, Andheri (East), Mumbai-400059, Maharashtra, India

Tel. No.:

91-22-40302100

Fax No.:

91-22-66935367

E-Mail :

harishd@rukshmani.com

rsml@bom3.vsnl.net.in

Website :

http://www.rukshmanisyntex.com

 

 

DIRECTORS

 

AS ON 30.09.2014

 

Name :

Mr. Narayan Dalpatram Thakkar

Designation :

Managing director

Address :

Abhay Building, 5th Floor, Ns 9th Road, Jvpd Scheme, Vile Parle (West), Mumbai-400049, Maharashtra, India

Date of Birth/Age :

05.12.1946

Date of Appointment :

30.06.1988

DIN No.:

00365409

 

 

Name :

Mr. Vikram Narayan Thakkar

Designation :

Whole-time director

Address :

5th Floor, Abhay Building, 9th Road, Juhu, Plot No. 51, Vile Parle (West), Mumbai-400049, Maharashtra, India

Date of Birth/Age :

18.08.1976

Date of Appointment :

15.09.1994

DIN No.:

00365594

 

 

Name :

Mr. Mehul Narayan Thakkar

Designation :

Whole-time director

Address :

Abhay Building, 5th Floor, Ns 9th Road, Jvpd Scheme, Vile Parle (West), Mumbai-400049, Maharashtra, India

Date of Birth/Age :

19.09.1979

Date of Appointment :

16.10.1997

DIN No.:

00365677

 

 

KEY EXECUTIVES

 

Name :

Mr. Harish

Designation :

Accounts Manager

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2014

 

Names of Shareholders

 

No. of Shares

 

Narayan Dalpatram Thakkar

 

12

Vikram Narayan Thakkar

 

45991

Mehul Narayan Thakkar

 

45990

Rupal Textile Private Limited, India

 

32000

Mehul Narayan Thakkar, Bhimraj P. Kothari, Rajeshkumar M. Jain

 

1

Rajnidevi Sewani, Pritam R.Harwani(HUF), Doulatram Parasmal Kothari

 

1

Ramlal Peshumal Harwani (HUF), Asish Mahesh Kakwani, Bhawarlal Poonamchand Jain (Kothari)

 

1

Bhavesh Jitendra Shah, Sureshkumar Bhanaramji Prajapati, Tulsiram Bhanaramji Prajapati

 

1

Rasiklal Jiwabhai Shah, Jitendra Rasiklal Shah, Sureshkumar Punamchand Jain

 

1

Narayan Dalpatram Thakkar, Pari Jaykrishna Tulsidas (HUF), Jivraj Poonamchand Shah

 

1

Jyotsana Narayan Thakkar, Savita S. Jain

 

1

Total

 

124000

 

 

AS ON 30.09.2014

 

Equity Share Breakup

Percentage of Holding

Category

 

Bodies corporate

25.81

Directors or relatives of directors

74.19

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Exporter of Suiting, Shirting and Furnishing Fabric. (Registered Documents)

 

 

Brand Names :

--

 

 

Agencies Held :

--

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

Not Divulged

 

 

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 :

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 :

Not Divulged

 

 

Bankers :

Bank Name:

HDFC Bank Limited

Branch:

HDFC Bank Housesenapati Bapat Marg, Lower Parel (West), Mumbai- 400013, Maharashtra, India

Person Name (with Designation):

Not Divulged

Contact Number:

Not Divulged

Name of Account Holder:

Not Divulged

Account Number:

Not Divulged

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

Not Divulged

Average Balance Maintained (Optional):

Not Divulged

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

Not Divulged

Account Operation:

Not Divulged

Remarks:

Not Divulged

 

·         Indian Overseas Bank

Andheri (East) Branch, C-201, Waterford Building, Juhu Lane, Andheri (West), Mumbai-400058, Maharashtra, India

 

·         Kotak Mahindra Bank Limited

Unit 2 and 3 Hyde Park Road, Off Saki Vihar Road,,
Andheri, Mumbai- 400072, Maharashtra, India

 

·         State Bank of India

 

 

Facilities :

SECURED LOANS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

LONG-TERM BORROWINGS

 

 

Indian Overseas Bank

 

 

Buyers Credit

62.406

30.535

Tempo Trex Loan

0.568

0.000

Term Loan VII

21.111

53.294

Term Loan VIII

0.000

5.444

HDFC Bank Limited

 

 

B M W 5 Series Car

2.795

3.510

B M W 7 Series Car

5.377

6.752

Hyundai I-10

0.433

0.533

Range Rover Car

1.820

3.467

Tata Vista – I Car

0.352

0.437

Tata Vista – I Car

0.352

0.437

Tata Vista – I Car

0.360

0.444

Toyota Car

1.701

2.048

Kotak Mahindra Prime Limited

 

 

Secured Against Tempo

0.124

0.249

Secured Against Tempo Trex

0.000

0.000

 

 

 

SHORT TERM BORROWINGS

 

 

Indian Overseas Bank

 

 

Term Loan IX

0.000

0.723

Indian Overseas Bank

 

 

Working Capital Loan

122.219

140.925

 

 

 

Total

219.618

248.798

 

Banking Relations :

--

 

 

Auditors :

 

Name :

R.Thakkar

Chartered Accountants

Address :

77/ 78, Commercial Chambers, Masjid Bunder Road, Mumbai-400003, Maharashtra, India

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

AAAFR1902Q

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Entities Under Common Control :

·         Rupal Textile Private Limited

·         Vikram Synthetics Private Limited

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

125,000

Equity Shares

Rs. 100/- each

Rs. 12.500 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

124,000

Equity Shares

Rs. 100/- each

Rs. 12.400 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

12.400

12.400

12.400

(b) Reserves & Surplus

179.560

152.402

136.171

(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)

191.960

164.802

148.571

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

317.251

248.284

285.000

(b) Deferred tax liabilities (Net)

62.471

64.234

57.922

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

25.227

17.327

11.265

Total Non-current Liabilities (3)

404.949

329.845

354.187

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

123.419

151.248

132.416

(b) Trade payables

23.173

43.022

21.082

(c) Other current liabilities

8.700

9.274

4.773

(d) Short-term provisions

6.450

8.523

7.405

Total Current Liabilities (4)

161.742

212.067

165.676

 

 

 

 

TOTAL

758.651

706.714

668.434

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

448.374

462.040

448.732

(ii) Intangible Assets

0.627

0.327

0.523

(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

0.118

0.118

0.118

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

34.268

34.083

29.906

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

483.387

496.568

479.279

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

127.880

84.853

85.432

(c) Trade receivables

86.429

84.104

77.990

(d) Cash and cash equivalents

43.468

30.684

23.508

(e) Short-term loans and advances

17.487

10.505

2.225

(f) Other current assets

0.000

0.000

0.000

Total Current Assets

275.264

210.146

189.155

 

 

 

 

TOTAL

758.651

706.714

668.434

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

Sales Turnover

606.051

565.659

452.210

 

 

Other Income

NA

NA

NA

 

 

TOTAL                                     (A)

NA

NA

NA

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

TOTAL                                     (B)

NA

NA

NA

 

 

 

 

 

 

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

120.220

113.180

104.174

 

 

 

 

 

Less

FINANCIAL EXPENSES                                    (D)

50.644

52.781

50.866

 

 

 

 

 

 

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

69.576

60.399

53.308

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

31.299

30.784

28.186

 

 

 

 

 

 

PROFIT BEFORE TAX (E-F)                              (G)

38.277

29.615

25.122

 

 

 

 

 

Less

TAX                                                                  (H)

11.119

13.384

7.741

 

 

 

 

 

 

PROFIT AFTER TAX (G-H)                                (I)

27.158

16.231

17.381

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

148.205

131.974

114.593

 

 

 

 

 

 

BALANCE CARRIED TO THE B/S

175.363

148.205

131.974

 

 

 

 

 

 

Earnings Per Share (Rs.)

219.02

130.89

140.17

 

 

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 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)

(%)

4.48

2.87

3.84

 

 

 

 

 

Operating Profit Margin

(PBDIT/Sales)

(%)

19.84

20.01

23.04

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

5.05

4.19

3.76

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.20

0.18

0.17

 

 

 

 

 

Debt Equity Ratio

(Total Debt/Networth)

 

2.30

2.42

2.81

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.70

0.99

1.14

 

 

 

 

 

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

12.400

12.400

12.400

Reserves & Surplus

136.171

152.402

179.560

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

0.000

0.000

0.000

Net worth

148.571

164.802

191.960

 

 

 

 

Long-term borrowings

285.000

248.284

317.251

Short term borrowings

132.416

151.248

123.419

Total borrowings

417.416

399.532

440.670

Debt/Equity ratio

2.810

2.424

2.296

 

 

 

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

452.210

565.659

606.051

 

 

25.088

7.141

 

 

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

452.210

565.659

606.051

Profit

17.381

16.231

27.158

 

3.84%

2.87%

4.48%

 

 


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

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

Yes

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

10542099

05/05/2015 *

220,000,000.00

HDFC BANK LIMITED

HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W
, MUMBAI- 400013, MAHARASHTRA, INDIA

C58636978

2

10537172

11/05/2015 *

269,493,000.00

KOTAK MAHINDRA BANK LIMITED

UNIT 2 & 3 HYDE PARK ROAD, OFF SAKI VIHAR ROAD,,
ANDHERI, MUMBAI- 400072, MAHARASHTRA, INDIA

C60772027

3

90210741

03/01/1997

9,200,000.00

GUJRAT STATE FINANCIAL CORPORATIVE

NAVJAEVAN TRUAT BUILDING, BEFIND VIDYAPEETH ASHR
AM ROAD, AHMEDABAD- 380014, GUJARAT, INDIA

-

4

90212970

03/01/1997

9,200,000.00

GUJRAT STATE FINANCIAL CORPORATIVE

NAVJAEVAN TRUAT BUILDING, BEFIND VIDYAPEETH ASHR
AM ROAD, AHMEDABAD- 380014, GUJARAT, INDIA

-

5

90212293

12/08/1992

7,629,000.00

THE GUHARAT STATE FINANCEIAL CORPORATIVE

JAL DARSHANBUILDING, ASHRAM ROAD, AHMEDABAD- 380009, GUJARAT, INDIA

-

 

* Date of charge modification

 

 

UNSECURED LOANS

 

PARTICULARS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

LONG-TERM BORROWINGS

 

 

Indian Overseas Bank

 

 

Corporate Term Loan

70.809

0.000

Loan from Directors

 

 

N D Thakkar

76.426

86.999

Mehul N Thakkar

6.470

18.495

Vikram N Thakkar

51.535

19.644

Loan from Shareholders

 

 

Jyotshna N Thakkar

2.178

2.022

N D Thakkar [HUF]

12.434

13.974

 

 

 

SHORT TERM BORROWINGS

 

 

Loans repayable on demand

1.200

9.600

 

 

 

Total

221.052

150.734

 

 

OPERATIONS :

 

The Company has achieved turnover of Rs. 606.051 Million during the year as against turnover of Rs. 565.659 Million during the previous year, which represents increase of about 7.14%. Net profit after tax for the year is Rs. 27.158 Million as against net profit after tax of Rs. 16.231 Million during the previous year.

 

 

FIXED ASSETS:

 

Tangible Assets

 

·         Land

·         Buildings

·         Plant and Equipment

·         Furniture and Fixtures

·         Vehicles

·         Office 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 records 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. 66.62

UK Pound

1

 Rs. 100.34

Euro

1

Rs. 70.67

 

 

INFORMATION DETAILS

 

Information Gathered by :

SVA

 

 

Analysis Done by :

TRI

 

 

Report Prepared by :

IND

 

 

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

--PROFITABILIRY

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

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

 

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.