MIRA INFORM REPORT
|
Report No. : |
304366 |
|
Report Date : |
21.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
MONARCH MULTILAYERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Shubham 47-A, Khare Town, Dharampeth, Nagpur – 440 010, Maharashtra |
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|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
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|
|
Date of
Incorporation : |
04.09.1990 |
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|
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|
Com. Reg. No.: |
11-058010 |
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|
|
Capital Investment
/ Paid-up Capital : |
Rs.4.500
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27130MH1990PTC058010 |
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|
|
|
IEC No.: |
Not Available |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
NGPM00983D |
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|
|
|
PAN No.: [Permanent Account No.] |
AAACM9575F |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Multilayer Films. |
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|
|
|
No. of Employees
: |
Information declined by the Management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
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 : |
Usually Correct |
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Litigation : |
Clear |
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|
Comments : |
Subject is an established company having satisfactory track record. The rating takes into consideration company’s sound operational risk profile
and fair profitability margins of the company Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered for business dealings at usual trade
terms and condition. |
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
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 DECLINED BY
|
Name : |
Mr. Anand Rathi |
|
Designation : |
Director |
|
Contact No.: |
91-9921021000 |
|
Date : |
20.01.2015 |
LOCATIONS
|
Registered Office/ Factory 1 : |
Shubham 47-A, Khare Town, Dharampeth, Nagpur – 440 010, Maharashtra,
India |
|
Tel. No.: |
91-712-2527966 |
|
Mobile No.: |
91-9921021000 (Mr. Anand) |
|
Fax No.: |
91-712-2545863 |
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E-Mail : |
|
|
|
|
|
Factory 2 : |
Plot No.M-3, MIDC Industrial Area, Hingna Road, Nagpur – 440 028,
Maharashtra, India |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Murlidhar Midanlal Rathi |
|
Designation : |
Director |
|
Address : |
Shubham, 47-A, Khare Town, Dharampeth, Nagpur – 440 010, Maharashtra,
India |
|
Date of Birth/Age : |
22.03.1947 |
|
Date of Appointment : |
29.09.2012 |
|
DIN No.: |
00556582 |
|
|
|
|
Name : |
Mr. Anand Murlidhar Rathi |
|
Designation : |
Director |
|
Address : |
Shubham, 47-A, Khare Town, Dharampeth, Nagpur – 440 010, Maharashtra,
India |
|
Date of Birth/Age : |
27.12.1981 |
|
Date of Appointment : |
01.05.2000 |
|
DIN No.: |
01477304 |
KEY EXECUTIVES
|
Name : |
N.V. Jain and Associates |
|
Designation : |
Practicing Company Secretary |
|
Address : |
Durgala Road, Sadar, Nagpur – 440 001, Maharashtra, India |
|
Tel. No.: |
91-712-2541739 |
|
Mobile No.: |
91-9373101106 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Anand Rathi |
|
12400 |
|
Murlidhar Rathi (HUF) |
|
13350 |
|
Murlidhar Rathi |
|
8850 |
|
Pushpa Devi Rathi |
|
8900 |
|
Apeksha Rathi |
|
1500 |
|
Total |
|
45000 |
AS ON 30.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Directors
or relatives of directors |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Multilayer Films. |
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|
Products : |
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|
Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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 : |
Dena
Bank, Swami Arcade, West High Court Road, Dharampeth, Nagpur – 440 010,
Maharashtra, India |
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Facilities : |
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||||||||||||||||||||||
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
Paliwal Modani and Company Chartered Accountants |
|
Address : |
Parkhi Bhavan, Near City Post Office, Itwari, Nagpur – 440 002,
Maharashtra, India |
|
Tel. No.: |
91-712-2768827 |
|
Income-tax
PAN of auditor or auditor's firm : |
AABFP5515E |
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|
|
Memberships : |
Not Available |
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|
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Collaborators : |
Not Available |
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|
|
|
Associates : |
Not Available |
CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs.100/- each |
Rs.5.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
45000 |
Equity Shares |
Rs.100/- each |
Rs.4.500
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 |
4.500 |
4.000 |
4.000 |
|
(b) Reserves & Surplus |
28.207 |
22.260 |
19.468 |
|
(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) |
32.707 |
26.260 |
23.468 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
13.462 |
15.872 |
6.274 |
|
(b) Deferred tax liabilities (Net) |
2.194 |
2.017 |
1.198 |
|
(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) |
15.656 |
17.889 |
7.472 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
88.664 |
30.876 |
28.817 |
|
(b)
Trade payables |
29.440 |
20.740 |
15.557 |
|
(c)
Other current liabilities |
16.000 |
13.002 |
6.022 |
|
(d)
Short-term provisions |
0.206 |
0.054 |
0.509 |
|
Total
Current Liabilities (4) |
134.310 |
64.672 |
50.905 |
|
|
|
|
|
|
TOTAL |
182.673 |
108.821 |
81.845 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
19.998 |
21.649 |
10.022 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
1.394 |
|
(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 |
1.161 |
1.158 |
13.728 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
21.159 |
22.807 |
25.144 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
14.415 |
20.547 |
14.201 |
|
(c)
Trade receivables |
65.814 |
48.593 |
18.575 |
|
(d)
Cash and cash equivalents |
35.931 |
0.797 |
0.412 |
|
(e)
Short-term loans and advances |
43.343 |
12.789 |
23.513 |
|
(f)
Other current assets |
2.011 |
3.288 |
0.000 |
|
Total
Current Assets |
161.514 |
86.014 |
56.701 |
|
|
|
|
|
|
TOTAL |
182.673 |
108.821 |
81.845 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
215.528 |
127.651 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
341.694 |
215.528 |
127.651 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
326.142 |
203.945 |
119.099 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
15.552 |
11.583 |
8.552 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST |
8.757 |
5.960 |
3.624 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
6.795 |
5.623 |
4.928 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1.751 |
1.570 |
1.150 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
5.044 |
4.053 |
3.778 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1.597 |
1.260 |
1.314 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
3.447 |
2.793 |
2.464 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
20.550 |
17.757 |
15.293 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
20.550 |
17.757 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
76.60 |
69.83 |
61.60 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/ Total Income) |
(%) |
1.01 |
1.30 |
1.93 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/ Total Income) |
(%) |
4.55 |
5.37 |
6.70 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.76 |
3.72 |
4.70 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15 |
0.15 |
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
3.12 |
1.78 |
1.50 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.20 |
1.33 |
1.11 |
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 |
4.000 |
4.000 |
4.500 |
|
Reserves & Surplus |
19.468 |
22.260 |
28.207 |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
23.468 |
26.260 |
32.707 |
|
|
|
|
|
|
Long Term borrowings |
6.274 |
15.872 |
13.462 |
|
Short Term borrowings |
28.817 |
30.876 |
88.664 |
|
Total borrowings |
35.091 |
46.748 |
102.126 |
|
Debt/Equity ratio |
1.495 |
1.780 |
3.122 |
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) |
|
Total Income |
127.651 |
215.528 |
341.694 |
|
|
|
68.842 |
58.538 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Total Income |
127.651 |
215.528 |
341.694 |
|
Profit |
2.464 |
2.793 |
3.447 |
|
|
1.93% |
1.30% |
1.01% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBTS
|
Particulars |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
Current Maturities of Long Term Debts |
4.473 |
4.740 |
0.153 |
|
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 |
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 |
No |
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10495267 |
22/04/2014 |
100,000,000.00 |
DENA BANK |
SWAMI ARCADE, WEST HIGH
COURT ROAD, DHARAMPETH, |
C03570728 |
|
2 |
10495259 |
28/03/2014 |
100,000,000.00 |
DENA BANK |
SWAMI ARCADE, WEST HIGH COURT
ROAD, DHARAMPETH, |
C03569811 |
UNSECURED LOANS
|
Particulars |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
|
LONG-TERM BORROWINGS |
|
|
|
From Banks and Financial Institutions |
0.776 |
4.597 |
|
From Directors and their Relatives |
1.354 |
7.661 |
|
From Corporates |
0.590 |
0.590 |
|
From Others |
10.700 |
2.900 |
|
Sales Tax Deferment Loan |
0.042 |
0.124 |
|
Total |
13.462 |
15.872 |
FIXED ASSETS:
· Leasehold Land
· Flat
· Factory Building
· Plant and Machinery
· Electrical Installation
· Furniture and Fixtures
· Vehicles
· Computer
· 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,
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.61.85 |
|
|
1 |
Rs.93.27 |
|
Euro |
1 |
Rs.71.57 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
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|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SMN |
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 |
|
-- PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
43 |
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.