MIRA INFORM REPORT

Report No. :	309976
Report Date :	27.02.2015

IDENTIFICATION DETAILS

Name :	KJV ALLOY CONDUCTORS PRIVATE LIMITED

Registered Office :	Plot No. 31, Central Service Road, Hingna MIDC, Nagpur – 440028, Maharashtra

Country :	India

Financials (as on) :	31.03.2014

Date of Incorporation :	05.07.1995

Com. Reg. No.:	11-090243

Capital Investment / Paid-up Capital :	Rs. 42.850 Millions

CIN No.: [Company Identification No.]	U31300MH1995PTC090243

TAN No.: [Tax Deduction & Collection Account No.]	NGPK00705F

PAN No.: [Permanent Account No.]	AABCK2308M

Legal Form :	Private Limited Liability Company

Line of Business :	Manufacturer of Aluminium Wire products.

No. of Employees :	200 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (34)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limits :	USD 380000

Status :	Moderate

Payment Behaviour :	Slow but correct

Litigation :	Clear

Comments :	Subject is an established company having moderate track record. The rating is constrained on account of company’s moderate financial risk profile and declining in profitability margins of the company during 2014. However, trade relations are fair. Business is active. Payments are reported to be slow but correct. The company can be considered for business dealing 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 – December 31, 2014

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

India

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 31-03-2014.

INFORMATION PARTED BY

Name :	Mr. Madhur Pople
Designation :	General Manager – Finance
Contact No.:	91-7104-237197
Date :	26.02.2015

LOCATIONS

Registered Office / Corporate Office / Factory 1 :	Plot No. 31, Central Service Road, Hingna MIDC, Nagpur – 440028, Maharashtra, India
Tel. No.:	91-7104-237197 / 236182
Fax No.:	91-7104-237988
E-Mail :	kjvalloys@hotmail.com info@kjvalloys.com gmfinance.jdf@gmail.com
Website :	http://www.kjvalloys.com

Hyderabad Office :	Flat No.502, H. No.: 20-2-289/88, S. S. Residency, Masabtank, Shantinagar, Hyderabad, Andhra Pradesh, India
Tel. No.:	91-40-66103573
Fax No.:	91-40-23344100

Factory 2:	Door No.B-78 and B-79, Village Nandigam, Mandel Kottur, Hyderabad Banglore Highway, District Mehboobnaga, Andhra Pradesh, India
Tel. No.:	91-8548-240166

Factory 3:	Plot No.15 and Part of 20, AKVN Industrial Area, Borgaon, Taluka: Sausar, District Chhindwara, Madhya Pradesh, India
Tel. No.:	91-7165-226841

DIRECTORS

AS ON: 30.09.2014

Name :

Mr. Jyotindra Gordhanbhai Patel

Designation :

Director

Address :

Jyotshree R/14, R/15, Bhange Vihar Trimurti Nagar, Nagpur – 440022, Maharashtra, India

Date of Birth/Age :

01.04.1951

Date of Appointment :

31.03.2012

PAN No.:

ACHPP5707G

DIN No.:

00555884

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	U31300MH1995PTC090243	KJV ALLOY CONDUCTORS PRIVATE LIMITED	Director	31/03/2012	05/07/1995	-	Active	NO
2	U31102MH1995PTC090254	NAGPUR TRANSWELL POWER PRIVATE LIMITED	Director	06/07/1995	06/07/1995	-	Active	NO
3	U65993MH1999PTC120799	JDS ENTERPRISES PRIVATE LIMITED	Director	14/07/1999	14/07/1999	-	Strike off	NO
4	U31102MH1999PTC120696	JDS TRANSFORMERS INDUSTRIES PRIVATE LIMITED	Director	15/07/1999	15/07/1999	-	Active	NO
5	U74900WB2006PTC141741	PALCO MANUFACTURING (INDIA) PRIVATE LIMITED	Managing director	10/05/2006	10/05/2006	30/03/2009	Active	NO

Name :

Mr. Sahaj Jyotindra Patel

Designation :

Managing Director

Address :

Jyotshree R/14, R/15, Bhange Vihar Trimurti Nagar, Nagpur – 440022, Maharashtra, India

Date of Birth/Age :

24.09.1978

Date of Appointment :

01.04.2012

PAN No.:

ACNPP6748D

DIN No.:

00556050

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	U31300MH1995PTC090243	KJV ALLOY CONDUCTORS PRIVATE LIMITED	Managing director	01/04/2012	14/12/1998	-	Active	NO
2	U31102MH1995PTC090254	NAGPUR TRANSWELL POWER PRIVATE LIMITED	Managing director	01/10/2003	01/10/2003	-	Active	NO
3	U74900WB2006PTC141741	PALCO MANUFACTURING (INDIA) PRIVATE LIMITED	Director	20/12/2006	20/12/2006	30/03/2009	Active	NO
4	U31102MH1999PTC120696	JDS TRANSFORMERS INDUSTRIES PRIVATE LIMITED	Managing director	01/04/2012	05/02/2007	-	Active	NO

Name :

Mrs. Daksha Jyotindra Patel

Designation :

Director

Address :

Jyotshree R/14, R/15, Bhange Vihar Trimurti Nagar, Nagpur – 440022, Maharashtra, India

Date of Birth/Age :

23.07.1951

Date of Appointment :

30.09.2005

PAN No.:

AEYPP0433J

DIN No.:

00552799

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	U31102MH1995PTC090254	NAGPUR TRANSWELL POWER PRIVATE LIMITED	Director	06/07/1995	06/07/1995	-	Active	NO
2	U65993MH1999PTC120799	JDS ENTERPRISES PRIVATE LIMITED	Managing director	14/07/1999	14/07/1999	-	Strike off	NO
3	U31102MH1999PTC120696	JDS TRANSFORMERS INDUSTRIES PRIVATE LIMITED	Director	31/03/2012	15/07/1999	-	Active	NO
4	U31300MH1995PTC090243	KJV ALLOY CONDUCTORS PRIVATE LIMITED	Director	30/09/2005	30/09/2005	-	Active	NO
5	U74900WB2006PTC141741	PALCO MANUFACTURING (INDIA) PRIVATE LIMITED	Director	10/05/2006	10/05/2006	30/03/2009	Active	NO

Name :

Mrs. Rina Sahaj Patel

Designation :

Director

Address :

Jyotshree R/14, R/15, Bhange Vihar Trimurti Nagar, Nagpur – 440022, Maharashtra, India

Date of Birth/Age :

29.08.1979

Date of Appointment :

20.03.2007

PAN No.:

AHRPD4388E

DIN No.:

00552867

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	U31102MH1995PTC090254	NAGPUR TRANSWELL POWER PRIVATE LIMITED	Director	25/04/2006	25/04/2006	-	Active	NO
2	U31300MH1995PTC090243	KJV ALLOY CONDUCTORS PRIVATE LIMITED	Director	20/03/2007	20/03/2007	-	Active	NO

KEY EXECUTIVE

Name :	Mr. Madhur Pople
Designation :	General Manager – Finance

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON: 30.09.2014

Names of Shareholders		No. of Shares
Patel G. Jyotindra Jt. with Patel Mrs. Daksha Jyotindra Patel		285150
Patel Jyotindra Sahaj with Patel Mrs. Rina Patel Jyotindra		70000
Patel Jyotindra Mrs. Daksha Jt. with Patel Jyotindra		55000
Parikh Keyur Jointly with Parikh Mrs. Rita		13350
Patel Mrs. Rina with Patel Sahaj		5000

Total		428500

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 Aluminium Wire products.

Products :

ITC Code	Product or Services
76149000 / 76141000	Conductor
76052990	Alluminium Wire

Brand Names :

Not Divulged

Agencies Held :

Not Divulged

Exports :

Products :

Aluminium Wire Rod, Alloy Conductor

Countries :

Kenya
Uganda
Sri Lanka

Imports :

Products :

Raw Material

Countries :

China

Terms :

Selling :

Cash and Credit (30 days / 60 days / 90 days)

Purchasing :

Cash and Credit (30 days / 60 days / 90 days)

PRODUCTION STATUS : NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Not Divulged

Customers :

End Users and OEMs

Reference :	Paramount Conductor Private Limited
Name of the Person :	Mr. Pathak
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark:	Not Divulged

Reference :	Tesla Transformers Private Limited SMS Infrastructure Limited Bharat Coking Coal Limited South Eastern Coalfields
Name of the Person :	Mr. Pathak
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark:	Not Divulged

MIDC (Maharashtra Industrial Development Corporation)
CESS (Cooperative Electric Supply Society)
MOIL (Manganese Ore India Limited)
APCPDCL
APEPDCL
APSPDCL
APNPDCL

No. of Employees :

200 (Approximately)

Bankers :

Bank Name	UCO Bank
Branch	Wardha Road, Nagpur
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)	Cash Credit = Rs.360.000 Million
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

Facilities :

Secured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long term borrowings
Rupee Term loans from banks	28.983	24.091
Term loans from others	0.000	2.521
Working capital loans from banks	159.098	143.595
Loans repayable on demand	104.008	165.596
Other loans and advances	1.021	1.671

Total	293.110	337.474


Banking Relations :	--

Auditors :
Name :	Ratan Chandak and Company Chartered Accountants
Address :	Shreevardhan Complex, 7, Farml and, Ramdaspeth, Nagpur - 440012, Maharashtra, India
PAN No.:	AABFR5803R

Associates:	Nagpur Transwell Power Private Limited U31102MH1995PTC090254 JDS Transformers Industries Private Limite U31102MH1999PTC120696 Brisk Marketing

CAPITAL STRUCTURE

AS ON: 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount

500000	Equity Shares	Rs.100/- each	Rs. 50.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

428500	Equity Shares	Rs.100/- each	Rs. 42.850 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	42.850	42.850	42.850
(b) Reserves & Surplus	87.062	81.500	69.177
(c) Money received against share warrants	0.000	0.000	0.000

(2) Share Application money pending allotment	0.000	0.000	39.665
Total Shareholders’ Funds (1) + (2)	129.912	124.350	151.692

(3) Non-Current Liabilities
(a) long-term borrowings	331.313	377.744	328.533
(b) Deferred tax liabilities (Net)	8.578	8.373	10.833
(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)	339.891	386.117	339.366

(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	112.081	82.391	49.808
(c) Other current liabilities	29.420	9.892	17.471
(d) Short-term provisions	6.211	8.576	8.093
Total Current Liabilities (4)	147.712	100.859	75.372

TOTAL	617.515	611.326	566.430

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	140.642	147.170	151.839
(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	0.977	0.627	0.627
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000	0.000
(e) Other Non-current assets	4.553	10.033	4.967
Total Non-Current Assets	146.172	157.830	157.433

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	217.161	202.560	204.089
(c) Trade receivables	112.644	150.755	144.623
(d) Cash and cash equivalents	20.237	30.298	23.581
(e) Short-term loans and advances	0.000	0.000	0.000
(f) Other current assets	121.301	69.883	36.704
Total Current Assets	471.343	453.496	408.997

TOTAL	617.515	611.326	566.430

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	1805.820	1870.105	1796.005
	Other Income	59.575	46.952	26.843
	TOTAL	1865.395	1917.057	1822.848

Less	EXPENSES
	TOTAL	1857.034	1903.327	1809.761

	PROFIT/ (LOSS) BEFORE TAX	8.361	13.730	13.087

Less	TAX	2.799	1.408	3.973

	PROFIT/ (LOSS) AFTER TAX	5.562	12.322	9.114

	BALANCE CARRIED TO THE B/S	5.562	12.322	9.114

	EARNINGS IN FOREIGN CURRENCY	215.241	87.619	NIL

	Earnings / (Loss) Per Share (Rs.)	12.98	28.78	21.27

Expected Sales ( 2014-2015 ) : Rs.1900.000 Million

The above information has been parted by Mr. Madhur Pople.

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	0.31	0.66	0.51

Operating Profit Margin (PBIDT/Sales)	(%)	0.46	0.73	0.73

Return on Total Assets (PBT/Total Assets}	(%)	1.36	2.25	2.31

Return on Investment (ROI) (PBT/Networth)		0.06	0.11	0.09

Debt Equity Ratio (Total Debt/Networth)		2.55	3.04	2.17

Current Ratio (Current Asset/Current Liability)		3.19	4.50	5.43

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	42.850	42.850	42.850
Reserves & Surplus	69.177	81.500	87.062
Share Application money pending allotment	39.665	0.000	0.000
Net worth	151.692	124.350	129.912

long-term borrowings	328.533	377.744	331.313
Short term borrowings	0.000	0.000	0.000
Total borrowings	328.533	377.744	331.313
Debt/Equity ratio	2.166	3.038	2.550

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	1796.005	1870.105	1805.820
		4.126	(3.438)

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	1796.005	1870.105	1805.820
Profit	9.114	12.322	5.562
	0.51%	0.66%	0.31%

LOCAL AGENCY FURTHER INFORMATION

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	Yes
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	Yes
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	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10175154	18/08/2009	41,000,000.00	UCO BANK	MOUNT ROAD, SADAR, NAGPUR, MAHARASHTRA - 440001, INDIA	A69220317
2	10175151	17/08/2009	41,000,000.00	UCO BANK	MOUNT ROAD, SADAR, NAGPUR, MAHARASHTRA - 440001, INDIA	A69220028
3	10118550	06/12/2013 *	381,500,000.00	UCO BANK	PLOT # 9, RAMKRISHNA NAGAR, AJNI SQUARE,, WARDHA ROAD, NAGPUR, MAHARASHTRA - 440015, INDIA	B94981032
4	10118548	30/07/2008	70,000,000.00	UCO BANK	MOUNT ROAD BRANCH, SADAR, NAGPUR, MAHARASHTRA - 4 40001, INDIA	A43946839
5	80009397	11/02/2006	95,000,000.00	UCO BANK	UCO BANK, MOUNT ROAD BRANCH, NAGPUR, MAHARASHTRA - 440001, INDIA	-

* Date of charge modification

UNSECURED LOAN

Particulars	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
Long term, borrowings
Deposits	38.203	40.270

Total	38.203	40.270

Note: The Registered Office of the company has been shifted from F-5/6, Premium Plaza Complex, 1^st Floor, Dharampeth, Nagpur – 440010, Maharashtra, India to the present address w.e.f. 15.06.2009.

OPERATION

In this connection the Directors wish to point out that the total sales of the company has decreased from last year. The total sales were Rs. 1805.820 Million during the year as against Rs. 1870.105 Million from previous year. The operations for the year resulted in net profit of Rs.8.361 Million as against net profit of Rs 13.730 Million in the previous year. Though the Company has earned an operating profit of Rs. 19.166 Million in the current year and Rs. 25.373 Million from previous year. The directors are very optimistic about enhancing the sales as well as profit in the coming year.

FIXED ASSETS

Land
Buildings
Plant and equipment
Factory equipment’s
Furniture and fixtures
Vehicles
Office equipment

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No 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. 61.94
UK Pound	1	Rs. 96.24
Euro	1	Rs. 70.39

INFORMATION DETAILS

Information Gathered by :	PPT

Analysis don by :	KAR

Report Prepared by :	SNT

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
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	3
--RESERVES	1~10	4
--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
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		34

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.

MIRA INFORM REPORT

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