MIRA INFORM REPORT
|
Report No. : |
302132 |
|
Report Date : |
08.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
BHAGAT AROMATICS LIMITED |
|
|
|
|
Registered
Office : |
164, Sitaram Poddar Marg,1st Floor, Mumbai – 400002,
Maharashtra |
|
|
|
|
Country : |
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|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
30.08.1989 |
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|
|
|
Com. Reg. No.: |
11-053252 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs.38.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51900MH1989PTC053252 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
PAN No.: [Permanent Account No.] |
Not Available |
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|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
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Line of Business
: |
Manufacturers of Menthol Crystals, Mint Oils and Essential Oils. |
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|
No. of Employees
: |
Information declined by the management |
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 Limit : |
USD 440000 |
|
|
|
|
Status : |
Moderate |
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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 moderate track record. The rating is constrained on account of company’s moderate financial
risk profile marked by below average operational performance 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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
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 |
CRISIL |
|
Rating |
Long term rating=BB- |
|
Rating Explanation |
Inadequate credit quality and high credit
risk. |
|
Date |
22.10.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating=A4+ |
|
Rating Explanation |
Very high credit risk and minimal degree of
safety. |
|
Date |
22.10.2014 |
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 DENIED BY
|
Name : |
Mr. Dalit Chakraworthy |
|
Designation : |
Accounts Head |
|
Contact No.: |
91-120-404300 |
|
Date : |
06.01.2015 |
LOCATIONS
|
Registered Office : |
164, Sitaram Poddar Marg,1st Floor, Mumbai – 400002,
Maharashtra, India |
|
Tel. No.: |
91-22-22086587 / 22082993 |
|
Fax No.: |
91-22-22057089 |
|
E-Mail : |
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|
Website : |
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|
|
|
|
Administrative Office / Factory : |
A-76, Sector-57, Noida – 201301, Uttar Pradesh, India |
|
Tel. No.: |
91-120-4044300-29 |
|
Fax No.: |
91-120-4044330 |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Preeti Biyani |
|
Designation : |
Director |
|
Address : |
506, Jeevan Vihar, Manav Mandir Road, Walkeshwar, Mumbai – 400006,
Maharashtra, India |
|
Date of Appointment : |
02.03.1998 |
|
DIN No.: |
00785741 |
|
|
|
|
Name : |
Mr. Praveen Laxminarayan Biyani |
|
Designation : |
Director |
|
Address : |
506, Jeevan Vihar, Manav Mandir Road, Walkeshwar, Mumbai – 400006,
Maharashtra, India |
|
Date of Appointment : |
30.08.1989 |
|
DIN No.: |
01396053 |
|
|
|
|
Name : |
Mr. Sitadevi Laxminarayan Biyani |
|
Designation : |
Director |
|
Address : |
164, Sitaram Poddar Marg, 1st Floor, Mumbai – 400002,
Maharashtra, India |
|
Date of Appointment : |
27.02.2002 |
|
DIN No.: |
03026772 |
KEY EXECUTIVES
|
Name : |
Mr. Dalit Chakraworthy |
|
Designation : |
Accounts Head |
MAJOR SHAREHOLDERS
AS ON 30.09.2014
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Praveen Biyani |
3208000 |
84.42 |
|
Praveen Biyani HUF |
5000 |
0.13 |
|
Preeti Biyani |
149000 |
3.92 |
|
Aastha Biyani |
10000 |
0.26 |
|
Sitadevi Biyani |
338000 |
8.89 |
|
Chartered Traders Private Limited |
90000 |
2.37 |
|
Total |
3800000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2014
|
Category |
Percentage |
|
Bodies corporate |
2.37 |
|
Directors or relatives of Directors |
97.63 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers of Menthol Crystals, Mint Oils and Essential Oils. |
|
|
|
|
Products : |
· Menthol and Mint Oils · Essential Oils/Oleoresins/Extracts · Spice and Oleoresins · Organic Certified Oils/Oleoresins · Essential Oils and Oleoresins (Co2 extracted) · Absolutes/Concretes · Aromatic Chemicals · Food Colors |
|
|
|
|
Brand Names : |
Not Divulged |
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|
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|
Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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|
|
|
Terms : |
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Selling : |
Not Divulged |
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|
|
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Purchasing : |
Not Divulged |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
ICICI Bank Limited, Landmarkrace Cource Circle, Alkapuri, Baroda – 390015, Gujarat, India |
|||||||||||||||
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|||||||||||||||
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Facilities : |
Working Capital from State Bank of India is secured by hypothecation of present and future Stock of Raw Materials, Stock in Process, Finished Goods and Receivables and other movables (excluding flat at Sector 93- A) of the company and first charge by way of equitable mortgage on the immovable properties situated at C-33/ Sector- 7 and Plot No-A-76/ Sector 57, Noida, U.P of the company respectively and guaranteed by Directors. |
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|
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
M Saboo and Company Chartered Accountants |
|
Address : |
002 / D-9, Yogi Nagar Eksar Road, Borivali (West), Mumbai – 400091,
Maharashtra, India |
|
Tel. No.: |
91-22-28980943 / 28983624 |
|
PAN No.: |
AKMPS8826N |
|
|
|
|
Membership : |
-- |
|
|
|
|
Associates/Subsidiaries : |
-- |
CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3800000 |
Equity Shares |
Rs.10/- each |
Rs.38.000 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 |
38.000 |
38.000 |
17.720 |
|
(b) Reserves & Surplus |
117.616 |
113.676 |
102.268 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.050 |
|
Total
Shareholders’ Funds (1) + (2) |
155.616 |
151.676 |
120.038 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
11.484 |
8.704 |
7.999 |
|
(b) Deferred tax liabilities (Net) |
4.103 |
4.193 |
4.609 |
|
(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) |
15.587 |
12.897 |
12.608 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
205.555 |
182.374 |
146.457 |
|
(b) Trade
payables |
6.412 |
6.877 |
1.761 |
|
(c) Other
current liabilities |
2.028 |
2.237 |
0.027 |
|
(d) Short-term
provisions |
7.955 |
6.180 |
1.530 |
|
Total Current
Liabilities (4) |
221.950 |
197.668 |
149.775 |
|
|
|
|
|
|
TOTAL |
393.153 |
362.241 |
282.421 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
64.266 |
65.242 |
71.721 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
64.266 |
65.242 |
71.721 |
|
|
|
|
|
|
(2) Current
assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
156.247 |
139.945 |
107.206 |
|
(c) Trade
receivables |
94.649 |
90.947 |
68.579 |
|
(d) Cash
and cash equivalents |
4.879 |
3.688 |
8.425 |
|
(e) Short-term
loans and advances |
72.992 |
62.259 |
26.490 |
|
(f) Other
current assets |
0.120 |
0.160 |
0.000 |
|
Total
Current Assets |
328.887 |
296.999 |
210.700 |
|
|
|
|
|
|
TOTAL |
393.153 |
362.241 |
282.421 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
637.567 |
767.696 |
398.935 |
|
|
|
Other Income |
4.901 |
1.277 |
0.332 |
|
|
|
TOTAL (A) |
642.468 |
768.973 |
399.267 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
563.262 |
694.838 |
305.751 |
|
|
|
Changes in Inventories of finished goods, work-in-progress and
stock-in-trade |
(15.563) |
(37.446) |
18.430 |
|
|
|
Employee Benefits Expenses |
14.570 |
13.670 |
11.982 |
|
|
|
Manufacturing Expenses |
14.126 |
11.635 |
0.000 |
|
|
|
Extraordinary Items |
0.000 |
0.000 |
0.233 |
|
|
|
Other Expenses |
30.929 |
36.358 |
29.139 |
|
|
|
TOTAL (B) |
607.324 |
719.055 |
365.535 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
35.144 |
49.918 |
33.732 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
21.662 |
24.139 |
18.752 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
13.482 |
25.779 |
14.980 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
7.858 |
8.607 |
9.650 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
5.624 |
17.172 |
5.330 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.684 |
5.764 |
(0.088) |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
3.940 |
11.408 |
5.418 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.04 |
6.44 |
3.32 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin PAT / Sales |
(%) |
0.62 |
1.49 |
1.36 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
5.51 |
6.50 |
8.46 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.43 |
4.74 |
1.89 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04 |
0.11 |
0.04 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.39 |
1.26 |
1.29 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.48 |
1.50 |
1.41 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs. In
Millions |
Rs.
In Millions |
|
Share Capital |
17.720 |
38.000 |
38.000 |
|
Reserves & Surplus |
102.268 |
113.676 |
117.616 |
|
Share Application money pending
allotment |
0.050 |
0.000 |
0.000 |
|
Net
worth |
120.038 |
151.676 |
155.616 |
|
|
|
|
|
|
long-term borrowings |
7.999 |
8.704 |
11.484 |
|
Short term borrowings |
146.457 |
182.374 |
205.555 |
|
Total
borrowings |
154.456 |
191.078 |
217.039 |
|
Debt/Equity
ratio |
1.287 |
1.260 |
1.395 |
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 |
398.935 |
767.696 |
637.567 |
|
|
|
92.436 |
(16.951) |
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
|
398.935 |
767.696 |
637.567 |
|
Profit |
5.418 |
11.408 |
3.940 |
|
|
1.36% |
1.49% |
0.62% |
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 |
No |
|
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 |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
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 |
No |
|
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 |
PERFORMANCE
During the year, the company achieved a sales turnover of Rs.642.467 Millions as compared to Rs.768.973 Millions in the previous year, which was slightly lower due to overall slackness in the economy. The profit margins were also and therefore the net profit after tax was at Rs.3.980 Millions as compared to Rs.11.408 Millions in the previous year.
UNSECURED LOANS:
|
Particulars |
31.03.2014 Rs. In Millions |
31.03.2013 Rs. In Millions |
|
Long Term Borrowings |
|
|
|
From others |
10.731 |
7.406 |
|
From shareholders,
directors and others |
0.753 |
1.298 |
|
|
|
|
|
Total |
11.484 |
8.704 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10439614 |
31/01/2013 |
10,600,000.00 |
ICICI Bank Limited |
Landmarkrace Cource Circle, Alkapuri, Baroda, Gujarat - 390015, India |
B74633454 |
|
2 |
10236259 |
20/08/2010 |
7,500,000.00 |
Future Capital Financial Services Limited |
FCH House, Peninsula Corporate Park,, Ganpatrao Kadam Marg, Lower Parel, Mumbai, Maharashtra - 400013, India |
A92271345 |
|
3 |
90236966 |
03/07/2003 * |
8,500,000.00 |
State Bank of India |
Overseas Branch, New Delhi, Delhi, India |
- |
|
4 |
80001792 |
28/09/2012 * |
215,000,000.00 |
State Bank of India |
Overseas Branch, Jawahar Vyapar Bhawan, 1, Tolstoy Marg, New Delhi- 110001, India |
B60381340 |
|
5 |
90236943 |
28/04/1998 * |
8,500,000.00 |
State Bank of India |
Chandni Chowk, Delhi, Delhi, India |
- |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Electrical Installation
·
Furniture and Fixtures
·
Office Equipment
·
Computer
·
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.63.45 |
|
|
1 |
Rs.95.99 |
|
Euro |
1 |
Rs.75.28 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
KRN |
|
|
|
|
Report Prepared
by : |
NKT |
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 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
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 |
||
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.