MIRA INFORM REPORT

 

 

Report No. :

303640

Report Date :

16.01.2015 

 

IDENTIFICATION DETAILS

 

Name :

T.G.I. PACKAGING PRIVATE LIMITED (w.e.f. 28.06.2005)

 

 

Formerly Known As :

SUMARA FINANCE PRIVATE LIMITED

 

 

Registered Office :

F44 and F45, SIPCOT Industrial Partk, 8th Main, 3rd Cross, Irungattukottai, Sriperumbudur, Chennai – 602 105, Tamilnadu

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

04.10.1995

 

 

Com. Reg. No.:

18-033118

 

 

Capital Investment / Paid-up Capital :

Rs.34.213 millions

 

 

CIN No.:

[Company Identification No.]

U65191TN1995PTC033118

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

Not Available

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Subject is engaged in manufacturing of corrugated boxes.

 

 

No. of Employees :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (28)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 347000

 

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having moderate track.

 

External borrowings of the company seems to be increasing compared to previous year.

 

The rating also takes into consideration below average financial risk profile marked by high gearing and its large working capital requirements.

 

However, trade relations are fair. Business is active. Payment terms are reported to be slow but correct. 

 

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

 

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: B+

Rating Explanation

Have high risk of default.

Date

13.01.2015

 

 

Rating Agency Name

CRISIL

Rating

Short Term Rating: A4

Rating Explanation

Have minimal degree of safety and carry very high credit risk.

Date

13.01.2015

 

 

RBI DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

 

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2014.

 

LOCATIONS

 

Registered Office :

F44 and F45, SIPCOT Industrial Partk, 8th Main, 3rd Cross, Irungattukottai, Sriperumbudur, Chennai – 602 105, Tamilnadu, India

Tel. No. :

91-44-47193061/ 47193062

Fax No. :

91-44-47193094

E-Mail :

info@tgipackaging.in

sales@tgipackaging.in

accounts@tgipackaging.in

Website :

http://www.tgipackaging.in

 

 

Factory 1 :

Classic Cartons (Chennai)

14, M.T.H Road, Ambattur, Chennai – 600 098, Tamilnadu, India

 

 

Factory 2 :

Jaishree Cartons (Chennai)

143/1, Saddyan Kuppam Pattai Manali Express Highway, Eranvoor, Chennai – 600 057, Tamilnadu, India

 

 

Factory 3 :

True Cartons (Pondicherry) 

82/3 Sedrapet Main Road, Sedarpet, Thiruchitrambalam(via), Pondicherry – 605 111, India

 

 

Factory 4 :

Classic Packaging (Bangalore) 

4/10 Bommanhally, Hosur Road, Bangalore – 560 068, Karnataka, India

 

 

Factory 5 :

Classic Packaging Unit II (Bangalore) 

266, A1 KIADB Industrial Area, Bommasandra, Jigni Link Road, Bangalore – 562 106, Karnataka, India

 

 

Factory 6 :

Hind Packaging (Kolkata) 

80/2 Makardah Road, Kolkata – 711 011, West Bengal, India

 

 

Factory 7 :

Chemex Packaging Rudrapur (Uttranchal)

4th Km Stone, Kashipur Road, Rudrapur, Uttranchal, India

 

 

Factory 8 :

Shakaumbari Packaging Industries  (Hyderabad)

No.172/C, Plot No.160/B, Bollaram IDA, Miyapur, Hyderabad, Telangana, India

 

 

Factory 9 :

True Industries (Hyderabad) 

St.No.79, Plot.No.32, Phase - IV - IDA, Jeedimetla, Hyderabad – 500 055, Telangana, India

 

 

DIRECTORS

 

AS ON 30.09.2014

 

Name :

Mr. Vikash Goyal

Designation :

Director

Address :

No.12, Seethammal Extension, 1st Main Road, Teynampet, Chennai – 600 018, Tamilnadu, India

Date of Birth/Age :

24.02.1972

Date of Appointment :

05.10.2007

DIN No. :

00706507

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

U21023PY1993PTC000904

JAISHREE CORRO CONTAINERS PRIVATE LIMITED

Director

18-07-1994

18-07-1994

-

Active

NO

2

U21023PY1995PTC001166

JAISHREE PALLETS AND PACKAGING PRIVATE LIMITED

Director

22-11-1995

22-11-1995

-

Active

NO

3

U65191TN1995PTC033118

T.G.I. PACKAGING PRIVATE LIMITED

Director

05-10-2007

05-10-2007

-

Active

NO

4

U93000MH2009NPL196517

INDIAN CORRUGATED CASE MANUFACTURERS ASSOCIATION

Director

16-10-2009

16-10-2009

-

Active

NO

 

 

Name :

Mr. Prashant Tikmani

Designation :

Director

Address :

Old No.2, New No.5, Lakshmi Street, 3rd Floor, Kilpauk, Chennai – 600 010, Tamilnadu, India

Date of Birth/Age :

01.06.1975

Date of Appointment :

02.04.2005

DIN No. :

01581236

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

U65191TN1995PTC033118

T.G.I. PACKAGING PRIVATE LIMITED

Director

02-04-2005

02-04-2005

-

Active

NO

2

U45201MH2006PTC165686

APT AGROTECH INDUSTRIES PRIVATE LIMITED

Additional director

14-08-2007

14-08-2007

25-06-2013

Active

NO

 

 

KEY EXECUTIVES

 

Name :

M. Damodaran and Associates

Designation :

Practicing Company Secretaries

Address :

New No.6, Old No.12, Appavoo Gramani, 1st Street, Mandaveli, (Opposite to Church Near by BSNL Office, Chennai – 600 028, Tamilnadu, India

Tel. No.:

91-44-43601111

E-Mail :

secretarial@mdarsoclates.co.in

accounts@mdarsoclates.co.in

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2014

 

Names of Shareholders

 

 

No. of Shares

Shyam Sundar Tikmani

 

326930

Bimla Tikmani

 

326930

Prashant Tikmani

 

653860

Anitha Goyal

 

275000

Vikash Goyal

 

534650

Suresh Kumar Goyal

 

275000

Sunitha Goyal

 

275000

Anitha Agarwal

 

275000

Ryina Chhabra, Australia

 

118079

Dhruv Kaira, USA

 

10556

Richa Tikmani

 

326930

Sameer Karla, Australia

 

23332

Total

 

3421267

 

AS ON 30.09.2014

 

Equity Share Break up (Percentage of Total Equity)

 

Category

Percentage of Holding

Foreign holdings [Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others]

4.44

Directors or relatives of Directors

95.56

Total

100.00

 

 

 

 

BUSINESS DETAILS

 

Line of Business :

Subject is engaged in manufacturing of corrugated boxes.

 

 

Products :

Corrugated Boxes

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Available

 

 

Imports :

Not Available

 

 

Terms :

Not Available

 

 

PRODUCTION STATUS – NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Jaishree Packaging

Name of the Person :

Not Available

Contact No.:

Not Available

Since How Long Known :

Not Available

Experience :

Not Available

Maximum Limit Dealt :

Not Available

 

·         A.R.S. Transport

·         Alpha Roadways

·         Best Logistics

·         Citi Infotech

·         MAO Agro

·         Madras Tools

·         Raj Trading Company

 

 

Customers :

Reference :

A1 Prints

Name of the Person :

Not Available

Contact No.:

Not Available

Since How Long Known :

Not Available

Experience :

Not Available

Maximum Limit Dealt :

Not Available

 

·         Aswani Associates

·         Asian Paints Limited

·         Classic Cartons

·         HHV Solar

·         I.T.C. Limited

·         Marico Limited

·         Lovely Paper Products Private Limited

 

 

No. of Employees :

Not Available

 

 

Bankers :

Banker Name

Corporation Bank

Branch Address

Sriperumbudur Branch, 213/214, Chella Perumal, Nagar, Bangalore High Road, Sriperumbudur, Chennai – 602 195, Tamilnadu, India

Person Name (With Designation)

Not Available

Contact Number

Not Available

Name of Account Holder

Not Available

Account Number

Not Available

Account Since (Date/Year of Account Opening)

Not Available

Average Balance Maintained (If Possible)

Not Available

Credit Facilities Enjoyed (If any)

Not Available

Account Operation

Not Available

Remarks (If any)

Not Available

 

·         Citibank

·         DBS Bank

 

 

Facilities :

SECURED LOANS

31.03.2014

(Rs. In Millions)

31.03.2013

(Rs. In Millions)

LONG TERM BORROWINGS

 

 

Term Loan

 

 

- From Bank

72.325

103.329

SHORT TERM BORROWINGS

 

 

Loans repayable on demand

 

 

- From Bank

112.102

69.538

Total

184.427

172.867

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Ravi and Raghu

Chartered Accountants

Address :

"Kadambari", 1st Floor, 35, Cathedral Road, Chennai – 600 086, Tamilnadu, India

PAN No.:

AADFR4790F

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associates/Subsidiaries :

Not Available

 

 

CAPITAL STRUCTURE

 

AS ON 30.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

3500000

Equity Shares

Rs.10/- each

Rs.35.000 millions

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

3421267

Equity Shares

Rs.10/- each

Rs.34.213 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

34.213

34.213

33.200

(b) Reserves & Surplus

87.204

87.204

37.597

(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)

121.417

121.417

70.797

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

90.357

131.001

168.533

(b) Deferred tax liabilities (Net)

4.061

4.196

3.881

(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)

94.418

135.197

172.414

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

112.102

69.538

60.007

(b) Trade payables

80.827

93.562

51.762

(c) Other current liabilities

8.386

1.842

1.490

(d) Short-term provisions

4.449

2.316

1.710

Total Current Liabilities (4)

205.764

167.258

114.969

 

 

 

 

TOTAL

421.599

423.872

358.180

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

170.504

171.206

148.049

(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

5.275

3.027

0.577

(e) Other Non-current assets

43.833

53.599

57.922

Total Non-Current Assets

219.612

227.832

206.548

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

4.125

19.787

12.629

(b) Inventories

94.394

81.386

80.858

(c) Trade receivables

90.136

80.577

47.221

(d) Cash and cash equivalents

1.318

0.301

0.271

(e) Short-term loans and advances

12.014

13.989

10.653

(f) Other current assets

0.000

0.000

0.000

Total Current Assets

201.987

196.040

151.632

 

 

 

 

TOTAL

421.599

423.872

358.180

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

 

 

 

 

 

GROSS INCOME

629.429

573.268

454.035

 

 

 

 

 

 

GROSS EXPENSES

619.848

563.840

451.262

 

 

 

 

 

 

PROFIT/ (LOSS)  FOR THE YEAR

9.581

4.587

2.967

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Debt Equity Ratio

(Total Debt/Networth)

 

1.67

1.65

3.23

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

0.98

1.17

1.32

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

 

DEBT EQUITY RATIO

Particular

31.03.2012

31.03.2013

31.03.2014

 

(INR in Mlns.)

(INR in Mlns.)

(INR in Mlns.)

Share Capital

33.200

34.213

34.213

Reserves & Surplus

37.597

87.204

87.204

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

0.000

0.000

0.000

Net worth

70.797

121.417

121.417

 

 

 

 

Long Term borrowings

168.533

131.001

90.357

Short Term borrowings

60.007

69.538

112.102

Total borrowings

228.540

200.539

202.459

Debt/Equity ratio

3.228

1.652

1.667

 

 

YEAR-ON-YEAR GROWTH

Year on Year Growth

31.03.2012

31.03.2013

31.03.2014

 

(INR in Mlns)

(INR in Mlns)

(INR in Mlns)

Gross Income

454.035

573.268

629.429

 

 

26.261

9.797

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(INR in Mlns)

(INR in Mlns)

(INR in Mlns)

Gross Income

454.035

573.268

629.429

Profit/ (Loss) for the year

2.967

4.587

9.581

 

0.65%

0.80%

1.52%

 

 

 

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

No

10]

Designation of contact person

No

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

Yes

18]

Major customers

Yes

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

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

 

 

NOTE:

 

The registered address of the company has been shifted from TS 61A and 62A, North Pgasend Cross, First Floor, SIDCO Industrial Estate, Ekkathuthangal, Chennai – 600 097, Tamilnadu to the present address w.e.f. 30.04.2009.

 

 

UNSECURED LOANS

 

PARTICULAR

31.03.2014

(Rs. In Millions)

31.03.2013

(Rs. In Millions)

LONG TERM BORROWINGS

 

 

Loans and advances from related parties

18.032

27.672

Total

18.032

27.672

 

 

INDEX OF CHARGES

 

S. No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10255732

12/11/2010

11,500,000.00

CORPOATION BANK

SRIPERUMBUDUR BRANCH, 213/214, CHELLA PERUMAL, NA 
GAR, BANGALORE HIGH ROAD, SRIPERUMBUDUR, TAMILNADU - 602195, INDIA

B01960673

2

10164350

05/10/2009 *

25,000,000.00

CORPORATION BANK

SRIPERUMBUDUR BRANCH, 213/214, CHELLA PERUMAL NAGAR, BANGALORE HIGH ROAD, SRIPERUMBUDUR, TAMILNADU - 602195, INDIA

A70940879

3

10125012

19/09/2008

1,720,000.00

CORPORATION BANK

213/214 CHELLA PERUMAL NAGAR, BANGALORE HIGH ROAD, SRIPERUMBUDUR, SRIPERUMBUDUR, TAMIL NADU - 602195, INDIA

A47392485

4

10120516

05/10/2009 *

26,700,000.00

CORPORATION BANK

SRIPERUMBUDUR BRANCH, 213/214, CHELLA PERUMAL NAGAR, BANGALORE HIGH ROAD, SRIPERUMBUDUR, TAMINADU - 602195, INDIA

A70825955

5

10123315

05/10/2009 *

67,500,000.00

CORPORATION BANK

SRIPERUMBUDUR BRANCH, 213/214, CHELLA PERUMAL NAGAR, BANGALORE HIGH ROAD, SRIPERUMBUDUR, TAMINADU - 602195, INDIA

A70938873

6

10089569

05/10/2009 *

50,000,000.00

CORPORATION BANK

SRIPERUMBUDUR BRANCH, 213/214, CHELLA PERUMAL NAGAR, BANGALORE HIGH ROAD, SRIPERUMBUDUR, TAMINADU - 602195, INDIA

A70821418

7

10204398

30/09/2013 *

232,900,000.00

CORPORATION BANK

213 / 214, CHELLA PERUMAL NAGAR,, BANGALORE HIGH ROAD, SRIPERUMBUDUR, TAMIL NADU - 602195, INDIA

B90185356

8

10158972

11/01/2008

67,500,000.00

CORPORATION BANK

SRIPERUMBUDUR BRANCH, SRIPERUMBUDUR, TAMILNADU - 
602105, INDIA

A32758013

 

* Date of charge modification

 

 

FIXED ASSETS:

 

·         Land

·         Furniture and Fixtures

·         Factory Building

·         Computer

·         Plant and Machinery

·         Vehicles

 

 

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.61.76

UK Pound

1

Rs.94.02

Euro

1

Rs.72.63                

 

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

Report Prepared by :

SMN

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

4

PAID-UP CAPITAL

1~10

3

OPERATING SCALE

1~10

3

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

3

-- PROFITABILITY

1~10

3

--LIQUIDITY

1~10

3

--LEVERAGE

1~10

2

--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

 

28

 

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.