MIRA INFORM REPORT

 

 

Report No. :

354403

Report Date :

21.12.2015

 

IDENTIFICATION DETAILS

 

Name :

STRETCH BANDS (GUJARAT) PRIVATE LIMITED

 

 

Registered Office :

Plot No.283/A, G.I.D.C., Chitra Estate, Bhavnagar – 364 004, Gujarat

Tel. No.:

91-278-2445430 / 2445177

 

 

Country :

India

 

 

Financials (as on) :

31.03.2015

 

 

Date of Incorporation :

25.04.1996

 

 

Com. Reg. No.:

04-029454

 

 

Capital Investment / Paid-up Capital :

Rs.10.333 Million

 

 

CIN No.:

[Company Identification No.]

U17119GJ1996PTC029454

 

 

IEC No.:

2488006441

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AACCS9941D

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer of Elastic Tapes (Confirmed by management)

 

 

No. of Employees :

150 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (30)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 46000

 

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject was incorporated in the year 1996 having moderate track.

 

For the FY 15, company has average revenue base marked by fair profitability margin.

 

However, rating is constrained on account of moderate net worth base, high debt levels and low cash accruals with may act as a threat to the liquidity position of the company.

 

Trade relations are fair. Business is active. Payments are slow but correct.

 

The company can be considered for business dealings with some caution.

 

 

NOTES :

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

 

 

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

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 31-03-2015.

 

 

INFORMATION PARTED BY (GENERAL DETAILS)

 

Name :

Mr. Sunil Modi

Designation :

Director

Contact No.:

91-9821089313

Date :

12.12.2015

 

 

LOCATIONS

 

Registered Office/ Factory :

Plot No.283/A, G.I.D.C., Chitra Estate, Bhavnagar – 364 004, Gujarat

Tel. No.:

91-278-2445430 / 2445177

Mobile No.:

91-9821089313 (Mr. Sunil)

Fax No.:

91-278-2445740

E-Mail :

sunilmodi@liontapes.com

kkmehtaandco@gmail.com 

Website :

http://www.liontapes.com

 

 

Sales and Marketing Office :: Office:

B-503/504, Kailash Esplanade, L.B.S. Marg, Ghatkopar (West), Mumbai - 400 086, Maharashtra, India

Tel. No.:

91-22-25004243

Fax No.:

91-22-25008523

E-Mail :

sunilmody@liontapes.com

 

 

DIRECTORS

 

As on 31.03.2015

 

Name :

Mr. Dhirendra Vrajlal Mody

Designation :

Director

Address :

43, Dev Bagh, Behind Darshan Flats, Bhavnagar, Gujarat, India

Date of Birth/Age :

03.09.1930

Date of Appointment :

25.04.1996

DIN No.:

00369348

 

 

Name :

Ms. Binduben Sunilbhai Mody

Designation :

Director

Address :

11, Vraj Apartments, Navroji Lane, Ghatkopar, Mumbai, Maharashtra, India

Date of Birth/Age :

03.04.1966

Date of Appointment :

25.04.1996

DIN No.:

00369480

 

 

Name :

Ms. Minaben Rameshbhai Mehta

Designation :

Director

Address :

D-225, Kalvibid,  Opposite Water Tank, Bhavnagar, Gujarat, India

Date of Birth/Age :

20.01.1946

Date of Appointment :

25.04.1996

DIN No.:

00369504

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 31.03.2015

 

Names of Shareholders

 

No. of Shares

Dhirendra Vrajlal Mody Jointly with (B) Dhirendra Vrajlal Mody (HUF)

 

303962

Hiral Rameshbhai Mehta Jointly with (a) Meenaben Mehta

 

12000

Bharatbhai A. Mehta Jointly with (A) Arvindbhai D. Mehta (B) Arvindbhai D. Mehta (HUF)

 

6000

Ravi D. Mody Jointly with (A) Bijal Mody (B) Sunil D. Mody (HUF)

 

90000

Binduben S. Mody Jointly with (A) Ravi Mody (B) Sunil D. Mody (HUF)

 

6000

Arvind Mehta (B) Mineshbhai A. Mehta (HUF)

 

6000

Ramesh D. Mehta (HUF) Jointly with (A) Gunwantiben B. Doshi

 

40000

Smituben K. Shelarka Jointly with (A) Bhavnaben R. Doshi (B) Pushpaben K. Thakkar

 

20000

Purvi A Mehta Jointly with (A) Jinesh B Parekh

 

1

Meenaben Mehta Jointly with (A) Hiral Mehta

 

216005

Meenaben Mehta Jointly with (A) Naliniben Kothari

 

1

Dhirendrabhai V. Mody

 

48

Total

 

700017

 

 

LIST OF ALLOTTEES

 

As on 18.07.2015

 

Names of Allottees

 

No. of Shares

Dhirendra Vrajlal Mody Jointly with (B) Dhirendra Vrajlal Mody (HUF)

 

100000

Ravi D. Mody Jointly with (A) Bijal Mody (B) Sunil D. Mody (HUF)

 

100000

Meenaben Mehta Jointly with (A) Hiral Mehta

 

133333

Total

 

333333

 

 

Equity Share Break up (Percentage of Total Equity)

 

As on 30.09.2014

 

Category

Percentage

Directors or relatives of Directors

100.00

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of Elastic Tapes (Confirmed by management)

 

 

Products :

Elastic Tapes

 

 

Brand Names :

Not Divulged

 

 

Agencies Held :

Not Divulged

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

 

Selling :

Cash, L/C and Credit

 

 

Purchasing :

Cash, L/C and Credit

 

PRODUCTION STATUS NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :
  • Hyosung Vietnam Company Limited
  • Radhu Products Private Limited
  • Sapna Traders
  • Adarsh Textile
  • Qindao Top Fiber Company Limited
  • Rubfila International Limited
  • Sogo Fashions Private Limited
  • Fine Poly-Print
  • Fine Polycolloids Private Limited
  • Laxmi Corporation
  • Utpan Impex
  • Veer Packaging
  • SMJ Labels LLP
  • Beta Digital Printing Private Limited
  • Tulsidas Khimaji Private Limited
  • Sky Industries
  • Unique International
  • EMU Line Private Limited

 

 

Customers :
  • AAR Industries, Delhi
  • AA Garments
  • Anu Elastics Private Limited
  • Bharat Beauty Centre
  • Champ Fitness Products
  • Deoki Hosiery Private Limited
  • DKI Apparel Private Limited
  • Dollar Industries Limited
  • Ganesh Associates Private Limited, Chennai
  • Zeon International
  • JABS
  • JHP Education Private Limited
  • Lucky Knit Private Limited
  • Omtex Healthwear Private Limited
  • RIB Plast
  • Sky Industries

 

 

No. of Employees :

150 (Approximately)

 

 

Bankers :

Bank Name

State Bank of India

Branch

Industrial Estate Branch, Chitra, Bhavnagar – 364 004, Gujarat, 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 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 Loan

31.03.2015

(Rs. in Million)

31.03.2014

(Rs. in Million)

Long-term Borrowings

 

 

Long-term Borrowings from Bank

23.739

13.077

 

 

 

Short-term borrowings

 

 

State Bank of India A/c No. 66005737255 C C - EPC

9.765

6.456

State Bank of India A/c No. 66000418518

29.935

22.277

 

 

 

Total

63.439

41.810

Note :

 

Long-term Borrowings

 

  1. The Long-term Borrowings from Bank include term loan secured against hypothecation of Plane and Machinery and E M of immovable properties of the company and guarantees by the Directors of the company
  2. Repayment obligation is Rs. 4.514 Million
  3. Default repayment of principal of Rs. Nil as on 31.03.2015

 

Short-term borrowings

 

Cash Credit Facility is repayable on demand and secured against hypothecation of stock, bookdebts and export bills and is guaranteed by Directors.

 

Auditors :

 

Name :

Unmesh Mehta and Company

Chartered Accountants

Address :

9, Nem Ashish Apartments, Second Floor, Geeta Chowk, Bhavnagar – 364 001, Gujarat, India

Tel. No.:

91-278-2203349/ 2200520

Fax No.:

91-278-2203349

E-Mail :

unmeshmehta@hotmail.com

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

AARPM7268D

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associates/Subsidiaries :

Not Available

 

 

CAPITAL STRUCTURE

 

After 30.09.2015

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

2000000

Equity Shares

Rs.10/- each

Rs.20.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1033350

Equity Shares

Rs.10/- each

Rs.10.333 Million

 

 

 

 

 

 

As on 31.03.2015

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

2000000

Equity Shares

Rs.10/- each

Rs.20.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

700017

Equity Shares

Rs.10/- each

Rs.7.000 Million

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

31.03.2015

31.03.2014

31.03.2013

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

7.000

7.000

7.000

(b) Reserves & Surplus

9.076

6.567

9.756

(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)

16.076

13.567

16.756

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

72.509

90.286

66.649

(b) Deferred tax liabilities (Net)

6.785

6.409

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)

79.294

96.695

66.649

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

39.700

28.733

30.448

(b) Trade payables

8.836

5.141

6.500

(c) Other current liabilities

6.601

5.846

20.477

(d) Short-term provisions

3.047

2.005

1.080

Total Current Liabilities (4)

58.184

41.725

58.505

 

 

 

 

TOTAL

153.554

151.987

141.910

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

53.094

48.136

41.268

(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

0.008

0.008

0.008

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

0.655

2.520

0.225

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

53.757

50.664

41.501

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

59.024

66.869

70.423

(c) Trade receivables

33.633

25.907

26.223

(d) Cash and cash equivalents

1.098

1.364

1.671

(e) Short-term loans and advances

1.843

3.692

0.648

(f) Other current assets

4.199

3.491

1.444

Total Current Assets

99.797

101.323

100.409

 

 

 

 

TOTAL

153.554

151.987

141.910

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2015

31.03.2014

31.03.2013

 

SALES

 

 

 

 

Revenue from Operations

136.207

147.956

77.533

 

Other Income

0.493

0.660

 

 

TOTAL (A)

136.700

148.616

77.533

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

84.259

92.834

 NA

 

Purchases of Stock-in-Trade

0.000

0.000

 

 

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

(1.103)

3.712

 

 

Employees benefits expense

9.544

9.413

 

 

Other expenses

18.728

18.196

 

 

TOTAL (B)

111.428

124.155

NA

 

 

 

 

 

Less

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)

25.272

24.461

NA

 

 

 

 

 

Less

FINANCIAL EXPENSES (D)

17.933

17.275

 

 

 

 

 

 

 

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

7.339

7.186

NA

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION (F)

3.763

3.349

 NA

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX (E-F)   (G)

3.576

3.837

1.437

 

 

 

 

 

Less

TAX (H)

1.068

1.329

0.274

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX  (G-H)   (I)

2.508

2.508

1.163

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

F.O.B. Value of Exports

 NA

79.024

21.502

 

TOTAL EARNINGS

NA

79.024

21.502

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

3.58

3.58

 --

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2015

31.03.2014

31.03.2013

Current Maturities of Long term debt

NA

NA

NA

Cash generated from operations

NA

NA

NA

Net cash flow from operating activity

NA

NA

NA

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2015

31.03.2014

31.03.2013

Net Profit Margin

(PAT / Sales)

(%)

1.84

1.70

1.50

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

18.55

16.53

NA

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

2.33

2.52

1.01

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.22

0.28

0.09

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

6.98

8.77

5.79

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.72

2.43

1.72

6

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

7.000

7.000

7.000

Reserves & Surplus

9.756

6.567

9.076

Net worth

16.756

13.567

16.076

 

 

 

 

long-term borrowings

66.649

90.286

72.509

Short term borrowings

30.448

28.733

39.700

Total borrowings

97.097

119.019

112.209

Debt/Equity ratio

5.795

8.773

6.980

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

77.533

148.616

136.700

 

 

91.681

(8.018)

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

77.533

148.616

136.700

Profit

1.163

2.508

2.508

 

1.50%

1.69%

1.83%

 

 

 

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

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

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

Yes

35

Negative Reporting by Auditors in the Annual Report

No

 

 

REVIEW OF OPERATIONS AND STATE OD COMPANIES AFFAIRS

 

Inspite of Recession in the Market, the Gross Revenue of the company has remained more or less stable with a Marginal decline of 8% Compared to Previous year. However the company has been able to improve its PBDIT from Rs. 24.460 Million to 25.272 Million

 

The Net Profit has also remained stable despite of decline in Gross Revenue. 

 

 

UNSECURED LOAN

 

Unsecured Loan

31.03.2015

(Rs. in Million)

31.03.2014

(Rs. in Million)

Long-term Borrowings

 

 

Loan from Director

6.239

10.654

Loan from Promoters, Members etc.

42.531

66.555

Total

48.770

77.209

 

 

INDEX OF CHARGES

 

S.No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10242726

22/08/2010

1,600,000.00

State Bank of India

Industrial Estate Branch, Chitra, Bhavnagar, Gujarat - 364004, INDIA

A95112140

2

10242729

22/08/2010

2,700,000.00

State Bank of India

Industrial Estate Branch, Chitra, Bhavnagar, Gujarat - 364004, INDIA

A95113338

3

90105556

27/02/2015 *

91,100,000.00

STATE BANK OF INDIA

INDUSTRIAL ESTATE BRANCH, CHITRA, BHAVNAGAR, Gujarat - 364004, INDIA

C55221667

 

 

FIXED ASSETS

 

  • Building
  • Computers
  • E.T.P Expenses
  • Factory Equipment
  • Furniture
  • Land
  • Office Equipments
  • Plant Machinery
  • Vehicle

 

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.66.42

UK Pound

1

Rs.99.17

Euro

1

Rs.72.13

 

 

INFORMATION DETAILS

 

Information Gathered by :

DIP

 

 

Analysis Done by :

AMT

 

 

Report Prepared by :

SUJ

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

4

PAID-UP CAPITAL

1~10

4

OPERATING SCALE

1~10

4

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

4

--PROFITABILITY

1~10

4

--LIQUIDITY

1~10

2

--LEVERAGE

1~10

2

--RESERVES

1~10

2

--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

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

 

30

 

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.