MIRA INFORM REPORT
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Report No. : |
355367 |
|
Report Date : |
17.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
SPECIALITY POLYMERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Office No 5A, 6A, New Excelsior Building, Wallace Street, A.K. Naik
Marg, Fort, Mumbai – 400001, Maharashtra |
|
Tel. No.: |
91-22-22063534 |
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|
|
|
Country : |
India |
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|
|
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Financials (as
on) : |
31.03.2014 |
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|
|
Date of
Incorporation : |
14.10.1988 |
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|
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Com. Reg. No.: |
11-049233 |
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Capital
Investment / Paid-up Capital : |
Rs. 19.352 Million |
|
|
|
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CIN No.: [Company Identification
No.] |
U24295MH1988PTC049233 |
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|
|
|
IEC No.: |
0393074803 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNESI2825B |
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|
|
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PAN No.: [Permanent Account No.] |
AACCS3432R |
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|
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer, Trader and Exporter of Synthetic Resin Emulsions, Construction
Chemicals and Adhesives. (Confirmed by management) |
|
|
|
|
No. of Employees
: |
40 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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|
|
|
Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject was established in the year 1988 and it is engaged in the
manufacturing, trading and exporting of emulsions, adhesives, binders,
construction chemicals etc. For the financial year ended 2014, company has reported 19.02% revenue
as compared to previous year revenue and it has maintain decent profitability
margin at 1.96% during the year under review. Rating continues to derive comfort from the established track record
of the promoters in the chemicals manufacturing business along with company
benefits from the multiple applications of its product in diversified
business segments including paints, construction chemicals and packaging
which mitigates sector specific demand risk to some extent. Rating also takes into consideration company’s established track
record of business operations supported by its above average financial
profile along with sound networth and moderate debt coverage indicators. Rating strength is partially offset by the highly competitive business
environment given the fragmented industry structure limiting pricing
flexibility and the vulnerability of its profitability to the fluctuation in
exchange rates. The company’s has stretched liquidity position due to slow realization
from debtors rendering high reliance on external working capital borrowings
and thereby a stretched capital structure. Trade relations are reported as fair. Payment terms are reported to be
slow but correct. The company can be considered for business dealings at usual trade
terms and condition. Note: Management of the company has not filed its financial with government
department for the year 2015 and same are not available from any sources. |
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 |
Long term fund based limits – Cash credit = BB |
|
Rating Explanation |
Inadequate credit quality and high credit risk. |
|
Date |
February, 2015 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short term fund based limits – sub limit of cash credit = A4 |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
February, 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 PARTED BY
|
Name : |
Ms. Meena Sharma |
|
Designation : |
Manager |
|
Contact No.: |
91-9820601048 |
|
Date : |
16.12.2015 |
LOCATIONS
|
Registered Office : |
Office No 5A, 6A, New Excelsior Building, Wallace Street, A.K. Naik
Marg, Fort, Mumbai – 400001, Maharashtra, India |
|
Tel. No.: |
91-22-22063534 |
|
Mobile No.: |
91-9820601048 (Ms. Meena Sharma) |
|
Fax No.: |
91-22-22063533 |
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E-Mail : |
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|
Website : |
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|
Area : |
1000 Sq. Ft. |
|
Location : |
Owned |
|
Locality : |
Commercial |
|
|
|
|
Factory : |
3, MIDC Industrial Area, Badlapur, Thane, Maharashtra, India |
|
Area : |
500 Sq. Mtr. |
|
Location : |
Owned |
|
Locality : |
Industrial |
DIRECTORS
As on 31.03.2015
|
Name : |
Mr. Padmanabha Sundaram Sharma |
|
Designation : |
Director |
|
Address : |
Ramraksha Kutir, Behind S.I.A.H School, Kopar Road, Dombivli, Thane - 421202, Maharashtra, India |
|
Date of Birth/Age : |
14.01.1960 |
|
Date of Appointment : |
14.10.1988 |
|
PAN No.: |
AKZPS7491N |
|
DIN No.: |
01847107 |
|
|
|
|
Name : |
Mr. Sthanusesha S Sharma |
|
Designation : |
Director |
|
Address : |
R / 18, Ground Floor, Sudarshan Nagar, MIDC Residential, Dombivli [East], Thane - 421203, Maharashtra, India |
|
Date of Birth/Age : |
14.12.1950 |
|
Date of Appointment : |
14.10.1988 |
|
PAN No.: |
AVGPS3416B |
|
DIN No.: |
02566985 |
KEY EXECUTIVES
|
Name : |
Ms. Meena Sharma |
|
Designation : |
Manager |
MAJOR SHAREHOLDERS
AS ON 30.09.2014
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Sharma Sthanusesha |
37124 |
19.18 |
|
Sharma Padmanabha |
156392 |
80.82 |
|
Total |
193516 |
100.00 |
As on 30.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Directors
or relatives of directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Trader and Exporter of Synthetic Resin Emulsions,
Construction Chemicals and Adhesives. (Confirmed by management) |
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Products/ Services : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
· Dubai · Nigeria |
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Imports : |
(Indirect) |
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Terms : |
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Selling : |
Cash, Advance Payment and Cheque |
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Purchasing : |
Cash, Advance Payment and Cheque |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Wholesalers and Retailers
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No. of Employees : |
40 (Approximately) |
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Bankers : |
·
Punjab National Bank, PNB House, Sir P. M.
Road, Mumbai - 400001, Maharashtra, India |
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Facilities : |
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Auditors : |
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|
Name : |
N C Shah and Company Chartered Accountants |
|
Address : |
603, 6th Floor, Cotton Exchange Building, 175,
Kalbadevi Road, Mumbai – 400002, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAKPS9462L |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
After 30.09.2014
Authorised Capital: Rs. 45.000 Million
Issued, Subscribed & Paid-up Capital: Rs. 19.352
Million
As on 30.09.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000 |
Equity Shares |
Rs. 100/- each |
Rs. 20.000 Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
193516 |
Equity Shares |
Rs. 100/- each |
Rs. 19.352 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 |
19.352 |
19.352 |
19.352 |
|
(b) Reserves & Surplus |
150.065 |
108.917 |
77.658 |
|
(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) |
169.417 |
128.269 |
97.010 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
486.100 |
354.686 |
232.862 |
|
(b) Deferred tax liabilities (Net) |
1.467 |
1.053 |
0.690 |
|
(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) |
487.567 |
355.739 |
233.552 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b)
Trade payables |
629.969 |
406.687 |
251.452 |
|
(c)
Other current liabilities |
2.269 |
1.971 |
2.644 |
|
(d)
Short-term provisions |
21.997 |
17.041 |
16.106 |
|
Total
Current Liabilities (4) |
654.235 |
425.699 |
270.202 |
|
|
|
|
|
|
TOTAL |
1311.219 |
909.707 |
600.764 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
24.929 |
25.449 |
16.078 |
|
(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 |
0.001 |
0.001 |
0.665 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and
Advances |
90.931 |
46.198 |
37.672 |
|
(e)
Other Non-current assets |
2.382 |
3.573 |
4.764 |
|
Total
Non-Current Assets |
118.243 |
75.221 |
59.179 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
285.261 |
180.396 |
203.370 |
|
(c)
Trade receivables |
860.004 |
612.678 |
305.738 |
|
(d)
Cash and cash equivalents |
39.322 |
33.277 |
23.588 |
|
(e)
Short-term loans and advances |
8.241 |
8.135 |
8.759 |
|
(f)
Other current assets |
0.148 |
0.000 |
0.130 |
|
Total
Current Assets |
1192.976 |
834.486 |
541.585 |
|
|
|
|
|
|
TOTAL |
1311.219 |
909.707 |
600.764 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
|
GROSS SALES AND OTHER
RECEIPTS |
2100.186 |
1764.440 |
1184.929 |
|
|
|
|
|
|
|
|
EXPENSES |
NA
|
NA
|
NA
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
121.185 |
89.396 |
59.578 |
|
|
|
|
|
|
|
Less |
INTEREST |
57.877 |
40.538 |
27.158 |
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
63.308 |
48.858 |
32.420 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1.471 |
1.309 |
0.626 |
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
61.837 |
47.549 |
31.794 |
|
|
|
|
|
|
|
Less |
TAX |
20.689 |
16.290 |
10.816 |
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
41.148 |
31.259 |
20.978 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
99.730 |
68.471 |
47.587 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Proposed Dividend and Tax |
0.000 |
0.000 |
0.094 |
|
|
BALANCE CARRIED
TO THE B/S |
140.878 |
99.730 |
68.471 |
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
168.084 |
209.561 |
151.689 |
|
|
|
|
|
|
|
|
C.I.F. VALUE OF
IMPORT |
21.009 |
4.029 |
7.765 |
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
212.63 |
161.53 |
108.40 |
|
Particulars |
|
|
31.03.2015 |
|
Sales (Approximately) |
|
|
2500.000 |
Expected Sales (2015-16): Rs.3000.000 Million
The above information has been parted by Ms. Meena Sharma (Manager).
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 operating activities |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.72 |
5.23 |
5.30 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.36 |
0.37 |
0.33 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.87 |
2.77 |
2.40 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.82 |
1.96 |
2.00 |
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 |
19.352 |
19.352 |
19.352 |
|
Reserves & Surplus |
77.658 |
108.917 |
150.065 |
|
Net
worth |
97.010 |
128.269 |
169.417 |
|
|
|
|
|
|
Long-term borrowings |
232.862 |
354.686 |
486.100 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
232.862 |
354.686 |
486.100 |
|
Debt/Equity ratio |
2.400 |
2.765 |
2.869 |
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) |
|
Gross Sales and Other Receipts |
1184.929 |
1764.440 |
2100.186 |
|
|
|
48.907 |
19.028 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Gross Sales and Other Receipts |
1184.929 |
1764.440 |
2100.186 |
|
Profit |
20.978 |
31.259 |
41.148 |
|
|
1.77% |
1.77% |
1.96% |
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 |
Yes |
|
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 |
Yes |
|
17 |
Details of sister concerns |
No |
|
18 |
Major suppliers |
Yes |
|
19 |
Major customers |
Yes |
|
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 |
No |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
---------------------- |
|
28 |
Estimation for coming financial year |
Yes |
|
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 |
10126257 |
31/01/2015 * |
751,000,000.00 |
CORPORATION BANK |
PHONEIX MILL
COMPOUND, LOWER PAREL, MUMBAI -
400013, MAHARASHTRA, INDIA |
C43606672 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Loans and advances from directors |
110.248 |
0.000 |
|
Loans and advances from others |
40.475 |
70.065 |
|
Total |
150.723 |
70.065 |
FINANCIAL HIGHLIGHTS:
During the year, the Company
posted the highest profits before Depreciation, Interest and Income Tax. The
Net Profit before depreciation and interest during the year 2013-2014 are at
Rs.121.185 Million.
In view of their good
consistent profitability, growth, development and excellent support from their
bankers, Corporation Bank, the company is not only on the path of consistent
growth but planning for further expansion.
PERFORMANCE AND OPERATION:
During the year, the Company
has achieved a Gross Sales and Other receipt of Rs.2100.186 Million as compared
to Rs.1764.440 Million for the previous year indicating increased by 19.03%.
FUTURE OUTLOOK:
There is good demand for the
product of the Company. The Company has developed a Construction Chemicals,
Textile Chemicals and Special Chemicals for Match Industries, which is having
good demand in Domestic as well as International Market. As such, good
performance is expected.
FIXED ASSETS:
·
Land
·
Buildings
·
Plant and equipment
·
Factory equipments
·
Other plant and equipment
·
Furniture and fixtures
·
Vehicles
·
Office equipment
·
Computer equipments
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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.66.84 |
|
|
1 |
Rs.100.57 |
|
Euro |
1 |
Rs.73.15 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
PNM |
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 |
4 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
43 |
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 |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.