MIRA
INFORM REPORT
|
Report No. : |
305046 |
|
Report Date : |
30.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
CITRUS
PROCESSING INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Unit No. 1005, 10th Floor, Windfall-Sahar Plaza, J.B. Nagar,
Andheri-Kurla Road, Andheri (East), Mumbai – 400059, Maharashtra |
|
|
|
|
Country : |
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|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
22.06.2009 |
|
|
|
|
Com. Reg. No.: |
11-193480 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.105.183 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15500MH2009PTC193480 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMC16928C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCC6936B |
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|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The company is in a process of setting up a manufacturing plant for processing frozen concentrated orange juice. |
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|
No. of Employees
: |
Information declined by management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Macimum Credit Limits : |
USD 6290000 |
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|
|
|
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 continuous losses incurred by
the company. However, trade relations are reported as fair. Business is active.
Payment terms are reported to be slow but correct. The company can be considered for business dealings 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 |
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.
LOCATIONS
|
Registered Office / Factory : |
Unit No. 1005, 10th Floor, Windfall-Sahar Plaza, J.B.
Nagar, Andheri-Kurla Road, Andheri (East), Mumbai – 400059, Maharashtra,
India |
|
Tel. No. : |
91-22-61067900 |
|
Mobile No. : |
91-8080040188 (Mr. Ajit Gupta – Manager (Procurement)) 91-8080040180 (Mr. Prawan Dua) |
|
Fax No. : |
Not Available |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 30.07.2014
|
Name : |
Mr. Pradeep Kumar Gode |
|
Designation : |
Director |
|
Address : |
601, Capri Heights, Near Pali Mala Road, St. Andrews Road, Bandra (West), Mumbai – 400050, Maharashtra, India |
|
Date of Birth/Age : |
31.10.1976 |
|
Date of Appointment : |
02.12.2013 |
|
DIN No. : |
06697015 |
|
|
|
|
Name : |
Mr. Sanjay Jain |
|
Designation : |
Manager |
|
Address : |
Flat No.82, Versova Venus Co-Op.Housing Society, Plot No.6, RDP-2, Mahada Layout, Andheri (West), Mumbai - 400058, Maharashtra, India |
|
Date of Birth/Age : |
10.12.1967 |
|
Date of Appointment : |
02.12.2013 |
|
DIN No. : |
00140903 |
|
Name : |
Mr. Deepak Malik |
|
Designation : |
Director |
|
Address : |
91 Navjivan Vihar, Delhi - 110017, India |
|
Date of Birth/Age : |
14.11.1967 |
|
Date of Appointment : |
17.07.2013 |
|
DIN No.: |
00662141 |
|
|
|
|
Name : |
Michael Philipp Bar |
|
Designation : |
Director |
|
Address : |
Schlossbergstr, 21, Zollikon, 8702, Switzerland |
|
Date of Birth/Age : |
28.06.1962 |
|
Date of Appointment : |
17.07.2013 |
|
DIN No.: |
01576648 |
|
|
|
|
Name : |
Mr. Peter jan jacobus michielsen |
|
Designation : |
Director |
|
Address : |
Eikvaren 5, 1964 Mj Heemskerk, The Netherlands |
|
Date of Birth/Age : |
29.08.1962 |
|
Date of Appointment : |
17.07.2013 |
|
DIN No.: |
06579376 |
KEY EXECUTIVES
|
Name : |
Ms. Greena mahesh karani |
|
Designation : |
Secretary |
|
Address : |
603, Rite Marvel-Popular CHS, Opp. BMC, Office - K Ward,Gundavali Village, Andheri (East), Mumbai - 400069, Maharashtra, India |
|
Date of Birth/Age : |
26.04.1981 |
|
Date of Appointment : |
29.07.2014 |
|
PAN No.: |
AKTPK2560J |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.07.2014
|
Names of Shareholders |
No. of Shares |
|
BR CPF Holdings (Mauritius) Limited, Mauritius |
5333445 |
|
Citrus Processing Mauritius Limited, Mauritius |
3496597 |
|
Pepsico Panimex Inc, Mauritius |
759802 |
|
Housing Development Finance Corporation Limited, India |
928414 |
|
Total |
10518258 |
AS ON 30.07.2014
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 |
91.00 |
|
Bodies corporate |
9.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is in a process of setting up a manufacturing
plant for processing frozen concentrated orange juice. |
|
|
|
|
Brand Names : |
Not Available |
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|
Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Available |
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|
|
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Terms : |
Not Available |
PRODUCTION STATUS : NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
Not Available |
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|
|
Customers : |
Not Available |
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|
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|
No. of Employees : |
Information declined by management. |
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Bankers : |
Kotak Mahindra Bank Limited, 36-38A, Nariman Bhavan, 227,D, Nariman Point, Mumbai - 400021, Maharashtra, India |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
J. Shankar and Associates Chartered Accountants |
|
Address : |
D/6, 5th Floor, Everest, 156, Tardeo Road, Mumbai – 400034, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAPJ4905D |
|
|
|
|
Ultimate Holding
Company : |
· Citrus International AG [till 16 July, 2013] · Black River Capital Partners Fund (Food) LP [w.e.f. 17 July, 2013] |
|
|
|
|
Holding Company : |
· BR CPF Holdings (Mauritius) Limited [w.e.f. 17 July, 2013] · Citrus Processing Mauritius Limited [till 16 July, 2013] |
|
|
|
|
Promoter's holding
more than 20% Key Management Personnel (KMP) : |
Citrus Processing Mauritius Limited [w.e.f. 17 July, 2013] |
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|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
CAPITAL STRUCTURE
AS ON 30.07.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 120.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10,518,258 |
Equity Shares |
Rs.10/- each |
Rs. 105.183 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 |
105.183 |
31.015 |
5.713 |
|
(b) Reserves & Surplus |
2096.155 |
(4.212) |
(3.764) |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
0.000 |
2.696 |
20.981 |
|
Total
Shareholders’ Funds (1) + (2) |
2201.338 |
29.499 |
22.930 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.241 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
0.241 |
0.000 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
6.743 |
0.264 |
0.539 |
|
(c) Other current
liabilities |
33.100 |
0.759 |
0.046 |
|
(d) Short-term provisions |
7.239
|
0.000 |
0.000 |
|
Total Current Liabilities (4) |
47.082 |
1.023 |
0.585 |
|
|
|
|
|
|
TOTAL |
2248.661 |
30.522 |
23.515 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
9.151 |
0.038 |
0.017 |
|
(ii) Intangible Assets |
0.450 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
228.688 |
28.541 |
21.251 |
|
(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) |
1.162 |
0.116 |
0.024 |
|
(d) Long-term Loan and Advances |
89.308 |
0.000 |
0.000 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
328.759 |
28.695 |
21.292 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
1867.030 |
0.000 |
0.000 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
0.000 |
0.000 |
0.000 |
|
(d) Cash and cash
equivalents |
43.671 |
1.240 |
1.906 |
|
(e) Short-term loans and
advances |
9.185 |
0.587 |
0.000 |
|
(f) Other current assets |
0.016 |
0.000 |
0.317 |
|
Total Current Assets |
1919.902 |
1.827 |
2.223 |
|
|
|
|
|
|
TOTAL |
2248.661 |
30.522 |
23.515 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
|
|
|
GROSS INCOME |
28.038 |
0.182 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(12.836) |
(0.540) |
0.000 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Less/ Add |
EXTRAORDINARY ITEMS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
(12.836) |
(0.540) |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
9.093 |
(0.092) |
0.016 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
(21.929) |
(0.448) |
(0.016) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(4.212) |
(3.764) |
(3.748) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(26.141) |
(4.212) |
(3.764) |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(2.08) |
(0.14) |
(0.03) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(0.64) |
(28.95) |
0.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.01) |
(0.02) |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
40.78 |
1.79 |
3.80 |
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 |
5.713 |
31.015 |
105.183 |
|
Reserves & Surplus |
(3.764) |
(4.212) |
2096.155 |
|
Share Application money pending allotment |
20.981 |
2.696 |
0.000 |
|
Net worth |
22.930 |
29.499 |
2201.338 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity ratio |
0.000 |
0.000 |
0.000 |
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) |
|
Gross Income |
0.000 |
0.182 |
28.038 |
|
|
|
|
15,305.495 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Gross Income |
0.000 |
0.182 |
28.038 |
|
Profit/Loss |
(0.016) |
(0.448) |
(21.929) |
|
|
|
(246.15%) |
(78.21%) |
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 |
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 |
CORPORATE INFORMATION
Subject was incorporated in the year 2009. The company is in a process of setting up a manufacturing plant for processing frozen concentrated orange juice.
OPERATIONS
The financial year ended March 2014 was an eventful year for Citrus Processing India Private Limited (CPIL). After closing the financing round to set up India’s first frozen concentrated orange juice (FCOJ) plant in July 2013, they set out to build a team that would execute their vision of First industrial FCOJ processor and the largest FCOJ provider to Indian bottlers within 3 years.
The CPIL team is 17 strong and growing. The company has made several key hires in various key functions including Finance, HR, Project management, procurement and engineering.
Beginning July 2013, the company undertook a variety of activities to finalize the detailed engineering of the FCOJ facility in Kushnoor MIDC Nanded, Maharashtra, with their PMC partners Knexir, the full-fledged construction activities kicked off in October 2013. Since then the construction has progressed swiftly with zero Loss Time and Accident. As of July 2014 over 65% of the civil and Pre Engineered Building works (PEB) is complete.
During the course of this period, all the critical imported process equipment due diligence was completed, with us choosing vendors such as John Bean Technologies (JBT), Alfa Laval and Bucher Unipektin as suppliers. After an exhaustive diligence and negotiation process, a number of other service providers and local equipment vendors were also selected to supply other items such as boiler, effluent treatment plant (ETP),
HVAC etc.
In their efforts to speed up the product development process they closely collaborated with their shareholder Pepsi on a pilot sample development program. Juice extracted from Indian fruit was processed and shipped to Switzerland for conversion to FCOJ. This sample FCOJ is at Mumbai customs and once cleared, they will share this sample with Pepsi to start the commercial product trials.
During the year, they also launched a number of initiatives to further their understanding of the citrus fruit supply chain. Collecting data for designing a sustainable procurement model, to procure high quality fruit at the right price, will be one of the key success drivers for the business and their efforts during the year in this regard will enable us to develop a viable procurement strategy going forward.
HOLDING COMPANY
The Company is a subsidiary of BR CPF Holdings (Mauritius) Limited, a Private Limited Company by virtue of the provisions of Section ,4(1)(b) of the Companies Act, 1956 and Black River Capital Partners Fund (Food) LP by virtue of the provisions of Section 4(1)(c) of the Companies Act, 1956.
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10465643 |
13/12/2013 |
850,000,000.00 |
KOTAK MAHINDRA BANK LIMITED |
36-38A, NARIMAN BHAVAN, 227,D,, NARIMAN POINT,, M |
B91728436 |
FIXED ASSETS
· Furniture and Fixtures
Mobile
Handset
Printer
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.61.50 |
|
|
1 |
Rs.93.12 |
|
Euro |
1 |
Rs.69.33 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
29 |
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.