MIRA INFORM REPORT

 

 

Report No. :

352861

Report Date :

08.12.2015

 

 IDENTIFICATION DETAILS

 

Name :

CLASSIC SOLVENTS PRIVATE LIMITED

 

 

Registered Office :

601, 6th Floor, 349, Business Point, Western Express Highway, Near Sai Services, Andheri (East), Mumbai – 400069, Maharashtra

Tel. No.:

91-22-42452222/ 20/ 32

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

13.09.1984

 

 

Com. Reg. No.:

11-034006

 

 

Capital Investment / Paid-up Capital :

Rs. 6.502 Million

 

 

CIN No.:

[Company Identification No.]

U29120MH1984PTC034006

 

 

IEC No.:

0396008437

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUMC10701F

 

 

PAN No.:

[Permanent Account No.]

AAACC1703B

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Subject engaged in the business of trading in pigments, chemicals and solvents etc. (Registered Activity)

 

 

No. of Employees :

Not Divulged

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (46)

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

41-55

Ba

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

 

Satisfactory

 

Maximum Credit Limit :

USD 270000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company incorporated in the year 1984 having satisfactory track.

 

The company possesses an above average financial risk profile marked by healthy net worth base and fair liquidity positions of the company.

 

Further, the rating also takes into consideration favorable gap between trade payables and trade receivables.

 

Trade relations are reported as fair. Business is active. Payments terms are reported as usually correct and as per commitment.

 

In view of long track record and acceptable financial base, the company can be considered normal 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

ICRA

Rating

Long Term Rating (BB+)

Rating Explanation

Moderate risk of default.

Date

November 18, 2015

 

 

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 DENIED

 

Management non-co-operative (91-22-4242222)

 

LOCATIONS

 

Registered/ Corporate Office :

601, 6th Floor, 349, Business Point, Western Express Highway, Near Sai Services, Andheri (East), Mumbai – 400069, Maharashtra, India

Tel. No.:

91-22-42452222/ 20/ 32

Fax No.:

91-22-42452232

E-Mail :

acc@classicsolvents.com

tvm@classicsolvents.com

cspl@classicsolvents.com

dpb@classicsolvents.com

Website :

http://www.classicsolvents.com

 

 

Godown:

Arihant Complex, Opposites Koper Bus Stop, Purna Village, Bhiwandi, Thane , Maharashtra, India

 

 

Branch Offices :

Located at:

 

·         Ahmedabad

·         Maharashtra

·         Kolkata

·         New Delhi

·         Kerala

·         Surat

 

 

DIRECTORS

 

As on: 30.09.2014

 

Name :

Mr. Dhiren Pranlal Bhuta

Designation :

Managing director

Address :

71, Chiranjeev, Gulmohur Road No. 4, Juhu, Mumbai – 400049, Maharashtra, India

Date of Birth/Age :

25.01.1960

Date of Appointment :

13.09.1984

PAN No.:

AACPB2813Q

DIN No.:

00465856

Other Directorship:

 

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U29120MH1984PTC034006

CLASSIC SOLVENTS PVT LTD

Managing director

13/09/1984

13/09/1984

-

Active

NO

2

U67120MH1995PTC091845

ACUMEN SHARE SERVICES PRIVATE LIMITED

Director

25/08/1995

25/08/1995

-

Active

NO

3

U17290MH2007PTC170171

MANAN COTSYN PRIVATE LIMITED

Director

20/04/2007

20/04/2007

18/05/2009

Active

NO

4

U45200MH2007PTC172939

MANAN INFRASTRUCTURE & DEVELOPMENT PRIVATE LIMITED

Director

07/08/2007

07/08/2007

-

Active

NO

5

U17219MH2008PTC183221

UNICOLOUR TEXTILES PRIVATE LIMITED

Director

05/06/2008

05/06/2008

-

Active

NO

6

U45400MH2008PTC187323

MANAN AMITY REALTORS PRIVATE LIMITED

Director

07/10/2008

07/10/2008

-

Strike off

NO

7

U17120MH2010PTC204509

DIVINE TITANIUM PRIVATE LIMITED

Director

19/06/2010

19/06/2010

-

Active

NO

8

U17291MH2014PTC253777

UNICOLOUR PROCESSORS PRIVATE LIMITED

Director

03/03/2014

03/03/2014

-

Active

NO

 

 

Name :

Ms. Beena Dhiren Bhuta

Designation :

Director

Address :

71, Chiranjeev, Gulmohur Road No. 4, Juhu, Mumbai – 400049, Maharashtra, India

Date of Birth/Age :

06.04.1965

Date of Appointment :

03.09.1995

PAN No.:

AAEPB8105F

DIN No.:

00465909

Other Directorship:

 

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U29120MH1984PTC034006

CLASSIC SOLVENTS PRIVATE LIMITED

Director

03/09/1995

03/09/1995

-

Active

NO

2

U17120MH2010PTC204509

DIVINE TITANIUM PRIVATE LIMITED

Director

19/06/2010

19/06/2010

-

Active

NO

 

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2014

 

NOTE: SHAREHOLDING DETAILS FILE ATTACHED

 

 

AS ON 30.09.2013

 

Equity Share Breakup

Percentage of Holding

Category

 

Directors or relatives of directors

99.94

Other top fifty shareholders

0.06

 

 

Total

100.00

 

 

 

 

BUSINESS DETAILS

 

Line of Business :

Subject engaged in the business of trading in pigments, chemicals and solvents etc. (Registered Activity)

 

 

Products :

·         Titanium Dioxide (Rutile and anatas grade)

·         Pearl and Chrome Pigments

·         Paints

·         Plastic

·         Extenders and Fillers Acrylamide Defamer and Biocides 

·         Specialty Chemicals 

 

 

Brand Names :

Not Divulged

 

 

Agencies Held :

Not Divulged

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

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 :

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 :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

Not Divulged

 

 

Bankers :

·         Cooperative Bank of Ahmedabad 323/25; Narshi Natha Street, Abad Bank Building, Mumbai - 400009, Maharashtra, India

 

·         The Vysya Bank Limited Mandvi Branch, Natha Street, Mumbai - 400009, Maharashtra, India

 

·         Corporation Bank, 221/223, Samuel Street, Masjid Bunder, Mandvi, Mumbai - 400003, Maharashtra, India

·         Yes Bank Limited, 9th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai - 400018, Maharashtra, India

 

Bank Name

Not Divulged

Branch

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

 

 

Facilities :

 

SECURED LOANS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

LONG TERM BORROWINGS

 

 

ICICI Bank Car Loan

0.684

0.000

SHORT TERM BORROWINGS

 

 

Working capital loans from banks

138.334

137.001

 

 

 

Total

139.018

137.001

 

LONG TERM BORROWINGS

 

Nature of Security

 

Vehicle loan from I.C.I.C.I Bank are secured by hypothecation of the respective vehicle purchased.

 

Repayment terms

 

The loan is repayable in equated monthly installments of Rs. 43,477 beginning from the month subsequent to the taking the loan. The last installment for the loan is August 2016.

 

SHORT TERM BORROWINGS

 

(i) Cash credit facility from Corporation bank is secured against the following assets:

- Present and future stock in trade, book debts and trade receivables.

- Movable Fixed Assets such as Plant and Machinery, Furniture and Fixtures, Electrical Equipments.

- Immovable property at 6/1 Arihant Complex - Bhiwandi, Thane - 421302

 

(ii) Cash credit facility from Yes bank is seucred against the following assets:

- Immovable property at Flat o. 175, Snehkoor CHS Limited NHR Colony Gorai Rd, Near Don Bosco School, Borivali (W)

- Immovable property at 601, Business Point, 349 W.E. Highway, Andheri (East), Mumbai - 400 059

 

(iii) Pari passu charge of Corporation Bank and Yes Bank on the following immovable assets:

- Unit No. A/ 249, Antop Hill, Ware, Housing Complex, Vidhyalankar College Road, Wadala - 40037

- 4/7 Arihant Compound, G.P.H. No. 683/4, Shed No.7, Pune, Village, MH050, Bhiwandi, Thane - 421302, Maharashtra

- 5/7 Arihant Compound, G.P.H. No. 683/5, Shed No.7, Pune, Village, MH050, Bhiwandi, Thane-421302, Maharashtra

- Juhu Vishal Co-operative Housing Society Limited, JVPD Scheme, Juhu, Mumbai - 400 049

- 602, Business Point, 349 W.E. Highway, Andheri (East), Mumbai - 400 059

 

Banking Relations :

 

 

 

Auditors :

 

Name :

A R Ruwala and Company

Chartered Accountants

Address :

M/204, RNA Regency Park, M.G. Road, Dahanukar, Wadi, Kandivali, (West), Mumbai -400067, Maharashtra, India

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

AABPR9851M

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Subsidiary Company :

·         Divine Titanium Private Limited [U17120MH2010PTC204509]

 

 

Entities over which key managerial personnel or their relatives exercises significant influence :

·         Unicolour Textiles Private Limited [U17219MH2008PTC183221]

·         Manan Infrastructure and Development Private Limited [U45200MH2007PTC172939]

·         Classic Auto Paints

·         Ashirwad Agencies

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

150,000

Equity Shares

Rs. 100/- each

Rs. 15.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

65,024

Equity Shares

Rs. 100/- each

Rs. 6.502 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

6.502

6.502

6.502

(b) Reserves & Surplus

101.819

89.194

86.108

(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)

108.321

95.696

92.610

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

0.684

0.000

0.250

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(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)

0.684

0.000

0.250

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

174.931

183.564

153.674

(b) Trade payables

288.364

298.683

345.401

(c) Other current liabilities

78.570

7.234

8.678

(d) Short-term provisions

7.516

1.419

0.000

Total Current Liabilities (4)

549.381

490.900

507.753

 

 

 

 

TOTAL

658.386

586.596

600.613

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

5.259

4.587

4.460

(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

0.684

0.684

0.684

(c) Deferred tax assets (net)

0.301

0.280

0.246

(d)  Long-term Loan and Advances

17.695

2.413

1.491

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

23.939

7.964

6.881

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

85.782

103.575

209.317

(c) Trade receivables

315.474

350.693

288.837

(d) Cash and cash equivalents

100.365

31.778

32.830

(e) Short-term loans and advances

132.813

90.207

58.622

(f) Other current assets

0.013

2.379

4.126

Total Current Assets

634.447

578.632

593.732

 

 

 

 

TOTAL

658.386

586.596

600.613

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

Income

NA

NA

NA

 

 

Other Income

NA

NA

NA

 

 

TOTAL                                    

NA

NA

NA

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

TOTAL                                    

NA

NA

NA

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION

19.765

5.487

18.080

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION        

1.064

1.017

0.948

 

 

 

 

 

 

PROFIT BEFORE TAX

18.701

4.470

17.132

 

 

 

 

 

Less

TAX                                                                 

6.076

1.384

5.828

 

 

 

 

 

 

PROFIT AFTER TAX

12.625

3.086

11.304

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

88.490

85.404

74.100

 

 

 

 

 

 

BALANCE CARRIED TO THE B/S

101.115

88.490

85.404

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

Export Earnings

0.135

0.135

0.000

 

 

 

 

 

 

Earnings Per Share (Rs.)

194.16

47.84

173.84

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

70.427

0.249

0.254

Cash generated from operations

NA

NA

NA

Net Cash flows from operating activities

NA

NA

NA

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

2.84

0.76

2.86

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.17

0.05

0.18

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

2.27

1.92

1.66

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.15

1.18

1.17

 

 

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

6.502

6.502

6.502

Reserves & Surplus

86.108

89.194

101.819

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

0.000

0.000

0.000

Net worth

92.610

95.696

108.321

 

 

 

 

long-term borrowings

0.250

0.000

0.684

Short term borrowings

153.674

183.564

174.931

Current maturities of long-term debts

0.254

0.249

70.427

Total borrowings

154.178

183.813

246.042

Debt/Equity ratio

1.665

1.921

2.271

 

 

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

No

7

Name of the person contacted

No

8

Designation of contact person

No

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

11

Pan Card No. of Proprietor / Partners

Yes

12

Voter Id Card No. of Proprietor / Partners

No

13

Type of business

Yes

14

Line of Business

Yes

15

Export/import details (if applicable)

No

16

No. of employees

No

17

Details of sister concerns

Yes

18

Major suppliers

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

No

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 LOANS

 

UNSECURED LOANS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

SHORT TERM BORROWINGS

 

 

Loans repayable on demand from others

16.367

31.633

Loans and advances from others

20.230

4.750

Other loans and advances

0.000

10.180

 

 

 

Total

36.597

46.563

 

 

CHANGE OF ADDRESS:

 

The Registered office of the company has been shifted from 51, Danyasthan Street, 2nd Floor, Room No. 29, Mumbai – 400003, Maharashtra, India to the present address w.e.f.30.11.2011.

 

 

BACKGROUND:

 

The Company was incorporated on 13-09-1984 as Classic Solvents Private Limited. The Company is mainly engaged in the business of trading in pigments, chemicals and solvents etc.



FIXED ASSETS:

 

·         Buildings

·         Factory building

·         Other building

·         Plant and equipment

·         Other plant and equipment

·         Furniture and fixtures

·         Vehicles

·         Motor vehicles

·         Office equipment

·         Computer equipments

 

 

INDEX OF CAHREGS:

 

S. NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10286975

21/09/2012 *

130,000,000.00

YES BANK LIMITED

9th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai - 400018, Maharashtra, India

B59621615

2

10264502

19/08/2014 *

130,000,000.00

YES BANK LIMITED

9th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai - 400018, Maharashtra, India

C36123115

3

90164267

05/11/2011 *

295,000,000.00

CORPORATION BANK

221/223, Samuel Street, Masjid Bunder, Mandvi, Mumbai - 400003, Maharashtra, India

B26268318

4

90164238

30/12/2009 *

200,000,000.00

CORPORATION BANK

221/223, SAMUEL STREET, MASJID BUNDER, MANDVI, MUMBAI, Maharashtra - 400003, INDIA

A77876498

* Date of charge modification

 

 

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.66.63

UK Pound

1

Rs.100.65

Euro

1

Rs.72.40

 

 

INFORMATION DETAILS

 

Information Gathered by :

KMN

 

 

Analysis Done by :

DIV

 

 

Report Prepared by :

MTN

 

 

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

6

--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

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

46

 

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.