MIRA INFORM REPORT

Report No. :	304773
Report Date :	27.01.2015

IDENTIFICATION DETAILS

Name :	HI TECHCHMICALS PRIVATE LIMITED
Registered Office :	“White House”, 119, Park Street, 4^th Floor ‘D’, Kolkata – 700016, West Bengal
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	16.01.1986
Com. Reg. No.:	21-124546
Capital Investment / Paid-up Capital :	Rs. 64.814 Millions
CIN No.: [Company Identification No.]	U00300WB1986PTC124546
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 :	Manufacturer and Supplier of Chemical, Pottassium Chloride, Sulphuric Acid, Calcium Carbonate, Ceramic used in Steel Plant.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. 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.

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	Have moderate risk of default
Date	June 20, 2014

Rating Agency Name	CRISIL
Rating	Short Term Rating = A4+
Rating Explanation	Have minimal degree of safety and carry high credit risk.
Date	June 20, 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.

LOCATIONS

Registered Office :	“White House”, 119, Park Street, 4^th Floor ‘D’, Kolkata – 700016, West Bengal, India
Tel. No.:	91-33-22265233
Fax No.:	91-33-22265972
E-Mail :	rkagarwal@satyam.net.in
Website :	www.hitechchemicals.net
Administrative Office :	Meghdeep House, 1st Floor, ‘Q’ Road, Bistupur, Jamshedpur-831001, Jharkhand, India
Tel. No.:	91-657-2756035 / 2756037
Fax No.:	91-657-2756048 / 2320412
E-Mail :	info@hitechchemicals.net hitech@hitechchemicals.net
Unit I :	C-38 and 47, 4th Phase, Industrial Area, Gambaria, Jamshedpur-832108, Jharkhand, India
Tel. No.:	91-657-2201938 / 2200991 / 2200733
Fax No.:	91-657-2261633
Unit II :	A-14, Phase-VI, Industrial Area, Gamharia, Jamshedpur-832108, Jharkhand, India
Tel. No.:	91-657-2200367 / 2200590 / 3094789
Fax No.:	91-657-2201723
Unit III :	M-20, Phase-VI, Industrial Area, Gamharia, Jamshedpur-832108, Jharkhand, India

DIRECTORS

AS ON 30.09.2014

Name :

Prabha Agarwal

Designation :

Director

Address :

4, Shanti Kunj, Northern Town, C.H. Area, Bistupur, Jamshedpur – 831001, Jharkhand, India

Date of Appointment :

25.01.2005

DIN No.:

00171346

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	U27100WB2002PLC094612	NILACHAL IRON & POWER LIMITED	Director	06/05/2002	06/05/2002	26/10/2007	Active	NO
2	U34300WB1995PTC071257	JAYSHREE MOTORS PRIVATE LIMITED	Director	19/09/2003	19/09/2003	-	Active	NO
3	U67120WB1994PTC065537	KILBURN MANAGEMENT SERVICES PVT.LTD.	Director	15/04/2004	15/04/2004	-	Active	NO
4	U00300WB1986PTC124546	HI TECHCHEMICALS PRIVATE LIMITED	Director	25/01/2005	25/01/2005	-	Active	NO
5	U51109WB1995PTC075232	DHARMJYOTI VINIMAY PVT LTD	Director	08/04/2005	08/04/2005	-	Amalgamated	NO
6	U51909WB1991PTC053098	JAG-MAG COMMERCIAL & CREDIT CO PVT LTD	Director	25/03/2006	25/03/2006	-	Amalgamated	NO
7	U70109WB1991PTC053021	SWARNIM EXIM ENCLAVE PVT LTD	Director	25/03/2006	25/03/2006	-	Amalgamated	NO
8	U27310WB2006PLC110450	HI-TECH HERITAGE LIMITED	Director	05/07/2006	05/07/2006	-	Active	NO
9	U27100WB2008PLC121597	HI - TECH IRON & POWER LIMITED.	Director	10/01/2008	10/01/2008	-	Strike off	NO
10	U51109WB2007PTC114619	POLLEN DEALCOM PRIVATE LIMITED	Director	11/04/2008	11/04/2008	-	Amalgamated	NO
11	U51109WB2006PTC109851	STANDARD VINIMAY PRIVATE LIMITED	Director	11/04/2008	11/04/2008	-	Amalgamated	NO
12	U15540WB2008PLC127336	HI-TECH NATURAL WATER LIMITED	Director	09/07/2008	09/07/2008	-	Amalgamated	NO
13	U51109WB2005PTC105130	SUNRISE TIE-UP PRIVATE LIMITED	Director	01/12/2008	01/12/2008	-	Amalgamated	NO
14	U52190WB1995PTC068790	BAVISCON DEALERS PVT LTD	Director	30/01/2009	30/01/2009	-	Amalgamated	NO
15	U51311WB1995PTC069567	BENKO TRADERS PVT.LTD.	Director	29/09/2014	27/12/2010	-	Active	NO

Name :

Rahul Agarwal

Designation :

Director

Address :

4, Shanti Kunj, Northern Town, C.H. Area, Bistupur, Jamshedpur – 831001, Jharkhand, India

Date of Birth/Age :

16.09.1989

Date of Appointment :

10.06.2013

DIN No.:

06603014

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	U74999WB1996PTC081936	VISAKHA CERAMICS & METALLURGICAL PRIVATE LIMITED	Director	30/09/2013	01/04/2013	-	Active	NO
2	U27310WB2006PLC110450	HI-TECH HERITAGE LIMITED	Director	30/09/2013	08/04/2013	-	Active	NO
3	U34300WB1995PTC071257	JAYSHREE MOTORS PRIVATE LIMITED	Director	30/09/2013	15/04/2013	-	Active	NO
4	U00300WB1986PTC124546	HI TECHCHEMICALS PRIVATE LIMITED	Director	10/06/2013	10/06/2013	-	Active	NO

Name :

Raj Kumar Agarwal

Designation :

Director

Address :

4, Shanti Kunj, Northern Town, C.H. Area, Bistupur, Jamshedpur – 831001, Jharkhand, India

Date of Birth/Age :

02.11.1962

Date of Appointment :

03.04.1987

DIN No.:

00171483

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	U00300WB1986PTC124546	HI TECHCHEMICALS PRIVATE LIMITED	Director	03/04/1987	03/04/1987	-	Active	NO
2	U67120WB1994PTC065537	KILBURN MANAGEMENT SERVICES PVT.LTD.	Director	27/01/2001	27/01/2001	-	Active	NO
3	U51109WB1995PTC068485	SUBAHU TRACON PVT. LTD.	Director	10/05/2001	10/05/2001	-	Amalgamated	NO
4	U27100WB2002PLC094612	NILACHAL IRON & POWER LIMITED	Managing director	01/01/2007	06/05/2002	26/10/2007	Active	NO
5	U34300WB1995PTC071257	JAYSHREE MOTORS PRIVATE LIMITED	Director	19/09/2003	19/09/2003	-	Active	NO
6	U51109WB1995PTC075232	DHARMJYOTI VINIMAY PVT LTD	Director	08/04/2005	08/04/2005	-	Amalgamated	NO
7	U51909WB1991PTC053098	JAG-MAG COMMERCIAL & CREDIT CO PVT LTD	Director	24/02/2006	24/02/2006	-	Amalgamated	NO
8	U70109WB1991PTC053021	SWARNIM EXIM ENCLAVE PVT LTD	Director	24/02/2006	24/02/2006	-	Amalgamated	NO
9	U27310WB2006PLC110450	HI-TECH HERITAGE LIMITED	Whole-time director	01/04/2010	05/07/2006	-	Active	NO
10	U52190WB1995PTC068790	BAVISCON DEALERS PVT LTD	Director	30/09/2009	15/09/2007	-	Amalgamated	NO
11	U27100WB2008PLC121597	HI - TECH IRON & POWER LIMITED.	Director	10/01/2008	10/01/2008	-	Strike off	NO
12	U51109WB2007PTC114619	POLLEN DEALCOM PRIVATE LIMITED	Director	11/04/2008	11/04/2008	-	Amalgamated	NO
13	U51109WB2006PTC109851	STANDARD VINIMAY PRIVATE LIMITED	Director	11/04/2008	11/04/2008	-	Amalgamated	NO
14	U15540WB2008PLC127336	HI-TECH NATURAL WATER LIMITED	Director	09/07/2008	09/07/2008	-	Amalgamated	NO
15	U51109WB2005PTC105130	SUNRISE TIE-UP PRIVATE LIMITED	Director	01/12/2008	01/12/2008	-	Amalgamated	NO
16	U51311WB1995PTC069567	BENKO TRADERS PVT.LTD.	Director	29/09/2014	17/12/2009	-	Active	NO
17	U51109WB2005PTC105721	PRACHI AGENCIES PRIVATE LIMITED	Additional director	01/03/2011	01/03/2011	-	Amalgamated	NO
18	U45201JH1996PLC007124	ADITYAPUR TOLL BRIDGE COMPANY LIMITED	Director	17/04/2012	17/04/2012	28/03/2014	Active	NO
19	AAA-1424	P&M AND HI TECH INFRASTRUCTURES LLP	Body corporate as Designated Partner	25/05/2010	25/05/2010	-	Active	NO

Name :

Ranjit Kumar Bagchi

Designation :

Director

Address :

B-115, Bengonia, Ashiana Gardens, Sonari, Jamshedpur – 831011, Jharkhand, India

Date of Birth/Age :

01.11.1944

Date of Appointment :

15.02.1986

DIN No.:

01053839

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2014

Names of Shareholders	No. of Shares	Percentage of Holding
Ranjit Kumar Baghi	3500	0.05
Gopal Krishna Mazumder	3100	0.05
Raj Kumar Agarwal	3841025	59.26
Prabha Agarwal	594500	9.17
Hi-Tech Heritage Limited, West Bengal	942600	14.54
Rahul Agarwal	150200	2.32
Raj Kumar Agarwal (HUF)	411500	6.35
Ganga Jamuna Financial Advisor Private Limited, West Bengal	200000	3.09
P R Tradecom Private Limited, West Bengal	100000	1.54
Shresth Builders Private Limited, West Bengal	65000	1.00
Shri Mahasati Investment Limited, West Bengal	170000	2.62
Total	6481425	100.00

AS ON 30.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Bodies corporate	22.80
Directors or relatives of Directors	77.20
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Supplier of Chemical, Pottassium Chloride, Sulphuric Acid, Calcium Carbonate, Ceramic used in Steel Plant.
Products :	Chemicals Pottassium Chloride Sulphuric Acid Calcium Carbonate
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	Not Available
Purchasing :	Not Available

GENERAL INFORMATION

Suppliers :

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

Customers :

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

No. of Employees :

Not Available

Bankers :

• State Bank of India, Commercial Branch, Bistupur, Jamshedpur – 831001, Jharkhand, India
• Axis Bank Limited, Jamshedpur Branch, Voltas House, Main Road, Bistupur, Jamshedpur - 831001, Jharkhand, India

Facilities :

SECURED LOANS	31.03.2014 (Rs. in Millions)	31.03.2013 (Rs. in Millions)
LONG TERM BORROWINGS
Term loan from bank	229.990	314.826
Total	229.990	314.826

Auditors :
Name :	S.K. Naredi and Company Chartered Accountants
Address :	M Road, Bistupur, Jamshedpur, Jharkhand, India
PAN No.:	AAFFS1613J
Memberships :	Not Available
Collaborators :	Not Available
Related Parties :	Kilburn Management Services Private Limited (CIN No.: U67120WB1994PTC065537) Visakha Ceramics and Metallurgical Private Limited (CIN No.: U74999WB1996PTC081936) Jayshree Motors Private Limited (CIN No.: U34300WB1995PTC071257) New Gargi Foundry Chemcials

CAPITAL STRUCTURE

AS ON 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
9,000,000	Equity Shares	Rs. 10/- each	Rs. 90.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
6,481,425	Equity Shares	Rs. 10/- each	Rs. 64.814 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	64.814	64.414	57.414
(b) Reserves & Surplus	534.919	523.166	471.867
(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)	599.733	587.580	529.281
(3) Non-Current Liabilities
(a) long-term borrowings	349.334	364.397	391.431
(b) Deferred tax liabilities (Net)	10.124	6.978	14.679
(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)	359.458	371.375	406.110
(4) Current Liabilities
(a) Short term borrowings	351.428	352.439	292.623
(b) Trade payables	106.701	92.513	72.423
(c) Other current liabilities	169.704	141.912	129.802
(d) Short-term provisions	8.440	2.674	3.783
Total Current Liabilities (4)	636.273	589.538	498.631
TOTAL	1595.464	1548.493	1434.022
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	752.606	790.736	681.065
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	17.352	11.297	87.561
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	97.211	92.976	97.207
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	101.009	112.849	128.614
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	968.178	1007.858	994.447
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	266.968	223.844	138.161
(c) Trade receivables	278.474	222.687	202.438
(d) Cash and cash equivalents	5.148	13.259	4.564
(e) Short-term loans and advances	76.696	80.845	94.412
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	627.286	540.635	439.575
TOTAL	1595.464	1548.493	1434.022

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		TOTAL	NA	NA	NA
Less	EXPENSES
		TOTAL	NA	NA	NA
	PROFIT/ (LOSS) BEFORE TAX		11.436	(19.403)	NA
Less	TAX		4.966	(7.702)	NA
	PROFIT/ (LOSS) AFTER TAX		6.470	(11.701)	0.520
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		123.581	135.282	NA
	BALANCE CARRIED TO THE B/S		130.051	123.581	NA
	Earnings / (Loss) Per Share (Rs.)		1.00	(1.81)	0.08

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Return on Total Assets (PBT/Total Assets}	(%)	0.77	(1.34)	0.00
Return on Investment (ROI) (PBT/Networth)		0.02	(0.03)	0.00
Debt Equity Ratio (Total Debt/Networth)		1.17	1.22	1.29
Current Ratio (Current Asset/Current Liability)		0.99	0.92	0.88

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	57.414	64.414	64.814
Reserves & Surplus	471.867	523.166	534.919
Net worth	529.281	587.580	599.733
long-term borrowings	391.431	364.397	349.334
Short term borrowings	292.623	352.439	351.428
Total borrowings	684.054	716.836	700.762
Debt/Equity ratio	1.292	1.220	1.168

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	No
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	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	10173413	08/01/2015 *	465,000,000.00	Axis Bank Limited	Jamshedpur Branch, Voltas House, Main Road, Bistupur, Jamshedpur, Jharkhand - 831001, INDIA	C39974969
2	90263883	26/05/2014 *	451,900,000.00	State Bank of India	Commercial Branch, Jamshedpur, Pratap Tower, Bistupur, Jamshedpur, Jharkhand -831001, INDIA	C07528615

* Date of charge modification

UNSECURED LOANS

PARTICULAR	31.03.2014 (Rs. in Millions)	31.03.2013 (Rs. in Millions)
LONG TERM BORROWINGS
Rupee term loan from bank	119.344	49.571
SHORT TERM BORROWINGS
Loans repayable on demand	351.428	352.439
Total	470.772	402.010

FIXED ASSETS

• Land
• Buildings
• Plant and Equipments
• Furniture and Fixture
• Vehicles
• Office Equipments
• Computer

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. 61.50
UK Pound	1	Rs. 92.16
Euro	1	Rs. 69.62

INFORMATION DETAILS

Analysis Done by :	RAS
Report Prepared by :	JYO

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILITY	1~10	4
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		45

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	--

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.