MIRA INFORM REPORT
|
Report No. : |
306964 |
|
Report Date : |
09.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
INDU PACKAGING ( |
|
|
|
|
Registered
Office : |
Plot No. 16, GDDIDC Industrial Estate, |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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|
|
Date of
Incorporation : |
19.08.1996 |
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|
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Com. Reg. No.: |
56-002159 |
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Capital
Investment / Paid-up Capital : |
Rs. 6.600 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74950DD1996PLC002159 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
SRTI00178D |
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|
|
|
PAN No.: [Permanent Account No.] |
AAACI5028B |
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|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Plastic Packing Material. |
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No. of Employees
: |
50 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
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 is an established company having satisfactory track record. Sales turnover of the company has declined which has resulted into dip
in profit of the company during 2014. However, the rating reflects extensive experience of its promoters in
the packaging industry supported by sound financial base and comfortable
capital structure of the company. Trade relations are fair. Business is active. Payment terms are
reported to be slow but 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating = BB |
|
Rating Explanation |
Inadequate credit quality and high credit
risk. |
|
Date |
May 29, 2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating = A4+ |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
May 29, 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
31-03-2014.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Ms. Sunita |
|
Designation : |
Manager |
|
Contact No.: |
91-22-26715762 |
|
Date : |
06.02.2014 |
LOCATIONS
|
Registered Office/ Factory : |
Plot No. 16, GDDIDC Industrial Estate, Somnath Road, Daman – 396210,
Daman and Diu [U.T.], India |
|
Tel. No.: |
91-260-2242175/ 2242975 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
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|
|
|
Mumbai Office : |
Meenakshi Building, S.V. Road, Vile Parle (West), Mumbai – 400056,
Maharashtra, India |
|
Tel. No.: |
91-22-26715762/ 32577078 |
|
E-Mail : |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Hemendra Himatlal Sheth |
|
Designation : |
Director |
|
Address : |
61, Meenakshi, S.V. Road, Vile Parle (West), Mumbai – 400056,
Maharashtra, India |
|
Date of Birth/Age : |
29.06.1956 |
|
Date of Appointment : |
19.08.1996 |
|
DIN No.: |
00331653 |
|
|
|
|
Name : |
Vyoma Hemendra Sheth |
|
Designation : |
Director |
|
Address : |
61, Meenakshi, S.V. Road, Vile Parle (West), Mumbai – 400056,
Maharashtra, India |
|
Date of Birth/Age : |
17.11.1959 |
|
Date of Appointment : |
19.08.1996 |
|
DIN No.: |
00328449 |
|
|
|
|
Name : |
Samarth Hemendra Sheth |
|
Designation : |
Director |
|
Address : |
61, Meenakshi, S.V. Road, Vile Parle (West), Mumbai – 400056, Maharashtra,
India |
|
Date of Birth/Age : |
30.04.1982 |
|
Date of Appointment : |
30.09.2013 |
|
DIN No.: |
03596648 |
KEY EXECUTIVES
|
Name : |
Ms. Sunita |
|
Designation : |
Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Sheth Himatlal Hemendra |
|
208600 |
|
Sheth Hemendra Vyoma |
|
55600 |
|
Indu Packaging Private Limited, India |
|
100000 |
|
Sheth Himatlal Hemendra HUF |
|
5000 |
|
Sheth Hemendra Samarth |
|
211100 |
|
Sheth Hemendra Rujuta |
|
39600 |
|
Sheth Samarth Pooja |
|
40000 |
|
Ajmera Parmanand Jatin |
|
100 |
|
|
|
|
|
Total |
|
660000 |
AS ON 30.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Bodies
corporate |
15.15 |
|
Directors
or relatives of directors |
84.85 |
|
|
|
|
Total |
100.00 |
%20LIMITED%20-%20306964_MIRA%2009-Feb-2015_files/image002.gif)
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Plastic Packing Material. |
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|
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|
Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
|
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Products : |
Finished Goods |
|
Countries : |
Dubai |
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Imports : |
|
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Products : |
Raw Material |
|
Countries : |
· Singapore USA Greece |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Wholesaler, Retailers, End Users and Manufacturer
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No. of Employees : |
50 (Approximately) |
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Bankers : |
· Dena Bank Daman, Daman - 396210, Daman and Diu, India · UCO Bank |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
N.B. Jhunjhunwala and Company Chartered Accountants |
|
Address : |
306, Corporate Avenue, Sonawala Lane, Goregaon (East), Mumbai – 400063,
Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AACPJ3970A |
|
|
|
|
Associates : |
· Durga Polyflex Industries Shree Industries Samron Industries Aum developers |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 60.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
660,000 |
Equity Shares |
Rs. 10/- each |
Rs. 6.600 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
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 |
6.600 |
6.600 |
6.600 |
|
(b) Reserves & Surplus |
29.292 |
28.074 |
26.286 |
|
(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) |
35.892 |
34.674 |
32.886 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.578 |
6.976 |
8.073 |
|
(b) Deferred tax liabilities (Net) |
0.991 |
1.044 |
1.126 |
|
(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) |
1.569 |
8.020 |
9.199 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
39.936 |
40.084 |
38.301 |
|
(b)
Trade payables |
18.764 |
24.799 |
20.954 |
|
(c)
Other current liabilities |
3.801 |
5.142 |
4.201 |
|
(d) Short-term
provisions |
0.000 |
0.000 |
0.005 |
|
Total Current
Liabilities (4) |
62.501 |
70.025 |
63.461 |
|
|
|
|
|
|
TOTAL |
99.962 |
112.719 |
105.546 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i) Tangible
assets |
11.157 |
11.948 |
12.577 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
3.397 |
5.915 |
5.964 |
|
(e) Other
Non-current assets |
0.760 |
3.032 |
3.976 |
|
Total Non-Current
Assets |
15.314 |
20.895 |
22.517 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
20.451 |
25.646 |
22.856 |
|
(c)
Trade receivables |
15.597 |
31.503 |
30.218 |
|
(d) Cash
and cash equivalents |
3.031 |
1.512 |
0.967 |
|
(e) Short-term
loans and advances |
45.484 |
32.964 |
28.666 |
|
(f)
Other current assets |
0.085 |
0.199 |
0.322 |
|
Total
Current Assets |
84.648 |
91.824 |
83.029 |
|
|
|
|
|
|
TOTAL |
99.962 |
112.719 |
105.546 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
160.760 |
197.293 |
186.833 |
|
|
|
Other Income |
0.120 |
0.191 |
0.250 |
|
|
|
TOTAL (A) |
160.880 |
197.484 |
187.083 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
136.504 |
169.494 |
158.095 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(1.674) |
(5.743) |
(0.363) |
|
|
|
Employees benefits expense |
3.765 |
3.102 |
4.081 |
|
|
|
Other expenses |
12.085 |
20.442 |
15.412 |
|
|
|
TOTAL (B) |
150.680 |
187.295 |
177.225 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
10.200 |
10.189 |
9.858 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
7.260 |
6.475 |
4.848 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2.940 |
3.714 |
5.010 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.148 |
1.124 |
1.129 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1.792 |
2.590 |
3.881 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.574 |
0.802 |
1.204 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1.218 |
1.788 |
2.677 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials (Including High seas) |
8.405 |
33.681 |
36.197 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.84 |
2.71 |
4.06 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
0.76 |
0.91 |
1.43 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
6.34 |
5.16 |
5.28 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.79 |
2.30 |
3.68 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05 |
0.07 |
0.12 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.13 |
1.36 |
1.41 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.35 |
1.31 |
1.31 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particulars |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
6.600 |
6.600 |
6.600 |
|
Reserves & Surplus |
26.286 |
28.074 |
29.292 |
|
Net
worth |
32.886 |
34.674 |
35.892 |
|
|
|
|
|
|
Long-term borrowings |
8.073 |
6.976 |
0.578 |
|
Short term borrowings |
38.301 |
40.084 |
39.936 |
|
Total
borrowings |
46.374 |
47.060 |
40.514 |
|
Debt/Equity ratio |
1.410 |
1.357 |
1.129 |
%20LIMITED%20-%20306964_MIRA%2009-Feb-2015_files/image004.gif)
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
186.833 |
197.293 |
160.760 |
|
|
|
5.599 |
(18.517) |
%20LIMITED%20-%20306964_MIRA%2009-Feb-2015_files/image006.gif)
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
186.833 |
197.293 |
160.760 |
|
Profit |
2.677 |
1.788 |
1.218 |
|
|
1.43% |
0.91% |
0.76% |
%20LIMITED%20-%20306964_MIRA%2009-Feb-2015_files/image008.gif)
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT
|
PARTICULARS |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
|
|
|
|
|
Current maturities of long-term debt |
0.000 |
0.293 |
0.320 |
|
|
|
|
|
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if
applicable) |
Yes |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director,
if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10012264 |
17/03/2012 * |
64,730,000.00 |
BANK OF BARODA |
SSI BRANCH DAMAN,
SOMNATH ROAD, DAMAN, DAMAN AND |
B38101184 |
|
2 |
90077759 |
17/03/2012 * |
64,730,000.00 |
BANK OF BARODA |
SSI BRANCH DAMAN,
SOMNATH ROAD, DAMAN, DAMAN AND |
B38101218 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
|
LONG-TERM BORROWINGS |
|
|
|
From Shareholders and Director's Relatives (Interest rate 12% pa. to 15% pa ) |
0.578 |
6.123 |
|
|
|
|
|
Total |
0.578 |
6.123 |
CORPORATE
INFORMATION
Subject is into
manufacturing of Plastic Packing Material. The registered office of the company
is situated at Daman
OPERATIONS
During the year,
the company has achieved a sales and earned other income of Rs.160.879 Millions
(Rs. 197.484 Millions) on which it has earned a profit of Rs. 1.218 Millions
(Rs. 1.788 Millions). The directors are hopeful for achieving satisfactory
results in the future.
CONTINGENT
LIABILITIES [AS ON 31.03.2014]:
1) Banks have issued guarantees Rs. 0.869 Million (0.869 Million).
2) Letter of Credit Rs. 2.565 Millions (2.565 Millions) (Including Buyers Credit).
FIXED ASSETS:
· Leasehold Land
Factory
Building
Plant
and Machineries
Electrical
Fittings
Office
Equipment
Computers
Furniture
and Fixtures
Miscellaneous
Equipments
Air
Conditioner
Fire
Extinguisher
Maxtouch
Cellular Phone
Vehicles
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 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. 61.74 |
|
|
1 |
Rs. 94.65 |
|
Euro |
1 |
Rs. 70.79 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
BVA |
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 |
3 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
42 |
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.