MIRA INFORM REPORT

 

Report No. :

329792

Report Date :

02.07.2015

 

IDENTIFICATION DETAILS

 

Name :

DHANLAXMI PIGMENTS PRIVATE LIMITED

 

 

Registered Office :

Plot No. 3020-21, GIDC Estate, III Phase, Bharuch – 393002, Gujarat

Tel. No.:

91-2646-22020

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

23.10.1998

 

 

Com. Reg. No.:

04-034870

 

 

Capital Investment / Paid-up Capital :

Rs.4.000 Million

 

 

CIN No.:

[Company Identification No.]

U24222GJ1998PTC034870

 

 

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 :

Manufacturing of Chemicals.

 

 

No. of Employees :

Information declined by the management 

 

 

RATING & COMMENTS

 

MIRA’s Rating :                     

Ba (48)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 570000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company incorporated during the year 1988. It is dealing in the business of manufacturing and exporting of pigment Green 7, alpha Blue, Pigment Yellow- 12 and CPC Blue. It has a satisfactory track record.

 

For the financial year ended 2014, the company has healthy business operation along with average profitability margin of 4.2% and top line growth of 12.8%

 

Rating also takes into consideration fine balance sheet profile of the company marked by strong net worth position and low borrowings.

 

Further, it has favourable gap between trade payables and receivables.

 

Trade relations are reported as fair. Business is active. Payments terms are usually connect and as per commitment.

 

In view of good financial base and long run of business operations in market, 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 – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

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 31-03-2013.

 

 

INFORMATION DECLINED BY

 

Name :

Mr. Prem

Designation :

Accountant

Contact No.:

91-9824153974

Date :

01.07.2015

 

 

LOCATIONS

 

Registered Office :

Plot No. 3020-21, GIDC Estate, III Phase, Bharuch – 393002, Gujarat, India

Tel. No.:

91-2646-22020/222390/272808/272760

Mobile No.:

91-9824153974 (Mr. Prem)

Fax No.:

91-2646-222390

E-Mail :

rjshah_ca@yahoo.com

 

 

DIRECTORS

 

AS ON 30.09.2014

 

Name :

Mr. Rajendra Babulal Gandhi

Designation :

Director

Address :

Plot No. 406/28, Swagat Society, G.I.D.C., Ankleshwar - 393002, Gujarat, India

Date of Appointment :

23.10.1998

DIN No.:

01361606

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

U45201GJ1993PTC019787

VEESU CONSTRUCTION AND LEASING PRIVATE LIMITED

Director

07-07-93

07-07-93

-

Strike off

NO

2

U24222GJ1998PTC034870

DHANLAXMI PIGMENTS PRIVATE LIMITED

Director

23-10-98

23-10-98

-

Active

NO

3

U17119GJ2002PTC040840

RAGESHWARI TEXTILES PRIVATE LIMITED

Director

29-09-12

21-12-11

-

Active

NO

 

 

Name :

Mr. Manubhai Popatbhai Ramolia

Designation :

Director

Address :

Plot No.401/11/A, G I D C Awar, Village Anklesvar Ina (Ina), Anklesvar - 393002, Gujarat, India

Date of Appointment :

23.10.1998

DIN No.:

01281878

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

U24222GJ1998PTC034870

DHANLAXMI PIGMENTS PRIVATE LIMITED

Director

23-10-98

23-10-98

-

Active

NO

2

U17119GJ2002PTC040840

RAGESHWARI TEXTILES PRIVATE LIMITED

Director

29-09-12

21-12-11

-

Active

NO

3

U90000GJ2010PLC060122

ANKLESHWAR CLEANER PROCESS TECHNOLOGY CENTRE LIMITED

Director

01-10-13

01-10-13

-

Active

NO

 

 

Name :

Mr. Dipak Babulal Gandhi

Designation :

Director

Address :

31/102, Anandnagar, Near Krushna Society 100 Ft T.P. Road, Satellite, Ahmedabad - 380051, Gujarat, India

Date of Appointment :

23.10.1998

DIN No.:

02452555

 

 

Name :

Mr. Yash Chaturbhai Ramolia

Designation :

Director

Address :

74/5-6, New Colony GIDC, Opposite Suflam Appartmenat, GIDC, Ankleshwar, 393002, Gujarat, India

Date of Appointment :

30.01.2013

DIN No.:

06485346

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

U17119GJ2002PTC040840

RAGESHWARI TEXTILES PRIVATE LIMITED

Director

30-08-13

21-01-13

-

Active

NO

2

U24222GJ1998PTC034870

DHANLAXMI PIGMENTS PRIVATE LIMITED

Director

30-01-13

30-01-13

-

Active

NO

 

 

KEY EXECUTIVES

 

Name :

Mr. Prem

Designation :

Accountant

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2014

 

Names of Shareholders

 

No. of Shares

Yash Chaturbhai Ramolia

 

84200

Rajendra Babulal Gandhi

 

31700

Manubhai Popatbhai Ramolia

 

70400

Dipak Babulal Gandhi

 

86600

Alkaben Rajendra Gandhi

 

8500

Rajendra Babulal Gandhi (HUF)

 

8000

Neetaben Chaturbhai Ramolia

 

18600

Kusumben Manubhai Ramolia

 

11800

Chaturbhai Popatbhai Ramolia (HUF)

 

20800

Dipakkumar Babulal Gandhi (HUF)

 

8500

Chhaganbhai Nagjibhai Sukhadia (HUF)

 

34500

Babulal Jethalal Gandhi

 

3600

Tarunaben Babulal Gandhi

 

1200

Nanbaiben Popatbhai Ramolia

 

7300

Muktika Dipakbhai Gandhi

 

1500

Manubhai Popatbhai Ramolia (HUF)

 

1800

Riteshbhai Kiritbhai Sangani

 

1000

Total

 

400000

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 30.09.2014

 

Category

Percentage

Directors or relatives of Directors

100.00

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturing of Chemicals.

 

 

Products :

--

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

Not Divulged

 

PRODUCTION STATUS: NOT AVAILABLE

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

Information declined by the management 

 

 

Bankers :

Banker Name

Bank of Baroda

Branch Address

Ankleshwar Main Branch,

Station Road, Ankleshwar - 393001, Gujarat, India

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

Facilities :

(Rs. In Million)

SECURED LOAN

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

Term loan from banks

HDFC bank Limited, Loan

0.405

0.810

SHORT TERM BORROWING

 

 

Loan from banks

Bank of Baroda Car Credit

17.343

28.215

Total

17.748

29.025

NOTE:

 

LONG TERM BORROWING

 

Nature of security

 

Secured by Hypothecation of Motor cars purchased against said loans.

 

Loans taken from Directors, Related Parties and others are Re-payable within 5 years, as per the Liquidity of Liquidity of fund available with the company and no fixed installments has been decided.

 

Terms of Re-payment of Loan

 

Particulars

Original loan Rs In Million

Repayment terms

HDFC Bank Ltd. - Car Loan

 

1.200

36 equity monthly installment of Rs. 0.039 (Including interest) started from 05.03.2013

 

SHORT TERM BORROWING

 

NATURE OF SECURITY

 

(I) Hypothecation of Machine, Electrical Installation, Furniture and Fixtures, Office Equipment and Movable Fixed Asset of the Company and also Hypothecation of Entire Raw Material, Stock In process, Stores and Spares, Packing Materials, Finished Goods and Book debts of the Company and Equitable Mortgage of factor/ land and building situated at Plot No. 3020-21, GIDC Industrial Estate, Panoll in the name of Company.

 

(il) Loans are guaranteed by the personal Guarantee of Directors

 

Auditors :

 

Name :

Rajesh J. Shah and Associates

Chartered Accountant

Address :

B/110-111, Gopal Palace, Near Shiromani Complex, Nehrunagar, Satellite, Ahmedabad – 380015, Gujarat

Tel. No.:

91-79-26760537/0637/7637

E-Mail :

info@rajeshjshahca.com

Website:

www.rajeshjshahca.com

PAN N Income-tax PAN of auditor or auditor's firm :

AADFR0856J

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Enterprises over which the key management personnel and or their relatives have significant influence :
  • Dhanlaxmi Chemicals
  • Dhanveen Pigments Private Limited
  • Krishna Chemicals

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

400000

Equity Shares

Rs.10/- each

Rs. 4.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

400000

Equity Shares

Rs.10/- each

Rs. 4.000 Million

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

 

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

4.000

4.000

4.000

(b) Reserves & Surplus

196.014

169.891

141.659

(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)

200.014

173.891

145.659

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

7.319

7.549

4.858

(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

0.000

0.000

0.000

Total Non-current Liabilities (3)

7.319

7.549

4.858

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

17.343

28.216

18.000

(b) Trade payables

77.907

89.791

76.827

(c) Other current liabilities

0.820

1.483

1.562

(d) Short-term provisions

0.034

0.036

0.030

Total Current Liabilities (4)

96.104

119.526

96.419

 

 

 

 

TOTAL

303.437

300.966

246.936

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

15.346

16.301

18.334

(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

0.030

3.136

2.980

(c) Deferred tax assets (net)

1.443

1.325

1.114

(d)  Long-term Loan and Advances

10.501

7.034

6.058

(e) Other Non-current assets

0.000

2.547

1.421

Total Non-Current Assets

27.320

30.343

29.907

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

23.218

21.698

15.832

(c) Trade receivables

250.240

238.711

198.870

(d) Cash and cash equivalents

1.305

8.187

0.649

(e) Short-term loans and advances

1.294

1.002

1.638

(f) Other current assets

0.060

1.025

0.040

Total Current Assets

276.117

270.623

217.029

 

 

 

 

TOTAL

303.437

300.966

246.936

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

611.013

541.535

510.364

 

Other Income

4.396

1.522

0.575

 

TOTAL

615.409

543.057

510.939

 

 

 

 

 

 

EXPENSES

573.738

497.392

455.250

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION 

41.671

45.665

55.689

 

 

 

 

 

 

DEPRECIATION/ AMORTISATION

3.504

3.865

4.657

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

38.166

41.800

51.032

 

 

 

 

 

 

TAX

12.043

13.568

16.659

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

26.123

28.232

34.374

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

65.31

NA

NA

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

Term loan from banks

HDFC bank Limited – Loan

0.405

0.362

0.427

Cash generated from operations

16.298

12.853

26.749

 

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

4.28

5.21

6.74

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

12.64

14.10

21.01

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.19

0.24

0.35

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

0.13

0.21

0.16

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

2.87

2.26

2.25

 

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

4.000

4.000

4.000

Reserves & Surplus

141.659

169.891

196.014

Money received against share warrants

0.000

0.000

0.000

 Share Application money pending allotment

0.000

0.000

0.000

Net worth

145.659

173.891

200.014

 

 

 

 

long-term borrowings

4.858

7.549

7.319

Short term borrowings

18.000

28.216

17.343

Current maturities of long-term debts

0.427

0.362

0.405

Total borrowings

23.285

36.127

25.067

Debt/Equity ratio

0.160

0.208

0.125

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

510.364

541.535

611.013

 

 

6.108

12.830

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

510.364

541.535

611.013

Profit

34.374

28.232

26.123

 

6.74%

5.21%

4.28%

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check list by info agents

Available in Report (Yes/No)

1

Year of establishment

Yes

2

Constitution of the entity -Incorporation details

Yes

3

Locality of the entity

Yes

4

Premises details

No

5

Buyer visit details

--

6

Contact numbers

Yes

7

Name of the person contacted

Yes

8

Designation of contact person

Yes

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

11

Pan Card No. of Proprietor / Partners

No

12

Voter Id Card No. of Proprietor / Partners

No

13

Type of business

Yes

14

Line of Business

Yes

15

Export/import details (if applicable)

No

16

No. of employees

No

17

Details of sister concerns

Yes

18

Major suppliers

No

19

Major customers

No

20

Banking Details

Yes

21

Banking facility details

Yes

22

Conduct of the banking account

--

23

Financials, if provided

Yes

24

Capital in the business

Yes

25

Last accounts filed at ROC, if applicable

Yes

26

Turnover of firm for last three years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

No

29

Profitability for last three years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

No

32

Litigations that the firm/promoter involved in

--

33

Market information

--

34

Payments terms

No

35

Negative Reporting by Auditors in the Annual Report

No

 

REVIEW OF OPERATIONS:

 

During the year, the company achieved a total turnover of Rs. 611.013 Million as against the previous year turnover Rs. 541.535 Million. The turnover of the company has increased due to better efforts and hard work of the directors and total workforce. The profit has not increased with the increase in turnover because of the increase in raw materials prices, increase in fuel prices etc and same has not been compensated by increase in sales price. The efforts are in progress for achieving better performance.

 

BACKGROUND

 

The company is incorporated in the year 1998, under the Companies Act 1956 vide certificate of incorporation no

U24222GJ1998PTC034870 issued on 2311011998 by the Registrar of Companies, District Bharuch, Gujarat. The mail activity of the company is Manufacturing of Chemicals.

 

 

UNSECURED LOAN

 

Particulars

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

LONG TERM BORROWING

 

 

Loans from related parties

6.915

6.740

Total

6.915

6.740

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

90107182

22/09/2010 *

39,188,000.00

BANK OF BARODA

ANKLESHWAR MAIN BRANCH, STATION ROAD, ANKLESHWAR,
GUJARAT - 393001, INDIA

B25605080

 

* Date of charge modification

 

 

 

FIXED ASSETS

 

 

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.63.62

UK Pound

1

Rs.99.89

Euro

1

Rs.70.77

 

 

INFORMATION DETAILS

 

Information Gathered by :

PRT

 

 

Analysis Done by :

TRI

 

 

Report Prepared by :

KVT

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

6

PAID-UP CAPITAL

1~10

6

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILITY

1~10

5

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--RESERVES

1~10

6

--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

 

48

 

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.