MIRA INFORM REPORT

 

 

Report No. :

330602

Report Date :

08.07.2015

 

IDENTIFICATION DETAILS

 

Name :

CLASSIC FLOORINGS AND INTERIORS PRIVATE LIMITED

 

 

Registered Office :

Ground Floor, Raghuvanshi Mansion, Raghuvanshi Mills Compound, Senapati Bapat Road, Mumbai – 400013, Maharashtra

Tel. No.:

91-22-40476211

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

14.08.1995

 

 

Com. Reg. No.:

11-091743

 

 

Capital Investment / Paid-up Capital :

Rs.9.870 Million

 

 

CIN No.:

[Company Identification No.]

U74999MH1995PTC091743

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUMC10296G

 

 

PAN No.:

[Permanent Account No.]

AAACC1815A

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Trader of Wooden Flooring

 

 

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 300000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an old and established company incorporated during the year 1995 having a satisfactory track record.

 

Available financial indicates company sound financial risk profile marked by decent by net worth position with low borrowings and favorable gap between trade payable and trade receivable.

 

Further the rating also takes into consideration, company good profitability.

 

Trade relations are reported as fair. Business is active. Payments terms are reported to be usually correct.

 

In view of long standing record and acceptable financial base, the company can be considered normal 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 DENIED

 

MANAGEMENT NON CO-OPERATIVE (91-22-24976210)

 

 

LOCATIONS

 

Registered Office :

Ground Floor, Raghuvanshi Mansion, Raghuvanshi Mills Compound, Senapati Bapat Road, Mumbai – 400013, Maharashtra

Tel. No.:

91-22-40476211

Fax No.:

91-22-24976216

E-Mail :

msaraf@squarefoot.co.in

Website :

http://www.classicfloorings.co.in

http://www.squarefoot.co.in

 

 

Corporate Office :

Padan No 2, Flat No 1, 4 B, Peddar Road, Mumbai – 400026, Maharashtra, India

 

 

Showroom  :

Located At:

 

·         Kochi

 

 

Branch Office :

Located At:

 

·         Srinagar

·         Ludhiana

·         Chandigarh

·         Dehradun

·         Delhi

·         Kanpur

·         Lucknow

·         Shillong

·         Manipur

·         Jaipur

·         Udaipur

·         Ahmedabad

·         Rajkot

·         Surat

·         Baroda

·         Bhopal

·         Indore

·         Kolkata

·         Bhubaneshwar

·         Mumbai

·         Pune

·         Sangli

·         Kolhapur

·         Goa

·         Visakhapatnam

·         Hyderabad

·         Mysore

·         Mangalore

·         Bangalore

·         Chennai

·         Coimbatore

·         Cochin

·         Trivandrum

 

 

DIRECTORS

 

AS ON 30.09.2014

 

Name :

Mr. Motilal Saraf

Designation :

Managing Director

Address :

Mansarover, Flat No. 203, Mt. Pleasant Road, Malabar Hill, Mumbai – 400006, Maharashtra, India

Date of Birth/Age :

01.10.1947

Qualification :

B. Com

Date of Appointment :

21.11.2011

Din No.:

01685519

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

U65929WB1954PTC021485

SARAF INVESTMENT PRIVATE LIMITED

Director

04-04-1967

04-04-1967

-

Active

NO

2

U01110MH1992PTC066849

ADHUNIK PLANTATIONS PRIVATE LIMITED

Director

20-05-1992

20-05-1992

-

Active

NO

3

U01110MH1992PTC067254

PRIME PLANTATIONS PRIVATE LIMITED

Director

16-06-1992

16-06-1992

-

Active

NO

4

U74999MH1995PTC091743

CLASSIC FLOORINGS AND INTERIORS PRIVATE LIMITED

Managing director

21-11-2011

14-08-1995

-

Active

NO

5

U24230MH1994PTC080348

RUSCO PHARMA PRIVATE LIMITED

Director

21-11-2007

21-11-2007

-

Active

NO

6

U61110MH1992PTC066860

TWENTIETH CENTURY PLANTATIONS PRIVATE LIMITED

Director

16-11-2011

16-11-2011

-

Active

NO

 

 

Name :

Mr. Gaurav M. Saraf

Designation :

Managing Director

Address :

P-72, Golden Enclave, Air Port Road, Bangalore – 560017, Karnataka, India 

Date of Birth/Age :

01.06.1980

Qualification :

B. Com

Date of Appointment :

21.11.2011

Din No.:

01586782

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

U74999MH1995PTC091743

CLASSIC FLOORINGS AND INTERIORS PRIVATE LIMITED

Managing director

21-11-2011

09-04-2005

-

Active

NO

2

U24230MH1994PTC080348

RUSCO PHARMA PRIVATE LIMITED

Director

28-09-2013

27-02-2013

-

Active

NO

 

 

Name :

Mr. Abhishek Motilal Saraf

Designation :

Joint Managing Director

Address :

Mansarover, Flat No. 203, Mt. Pleasant Road, Malabar Hill, Mumbai – 400006, Maharashtra, India

Date of Birth/Age :

23.06.1976

Qualification :

B. Com

Date of Appointment :

21.11.2011

Din No.:

01685526

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

U74999MH1995PTC091743

CLASSIC FLOORINGS AND INTERIORS PRIVATE LIMITED

Managing director

21-11-2011

09-04-2005

-

Active

NO

2

U24230MH1994PTC080348

RUSCO PHARMA PRIVATE LIMITED

Director

28-09-2013

27-02-2013

-

Active

NO

 

 

KEY EXECUTIVES

 

Name :

CS Kishor V. Ved

Designation :

Practicing Company Secretary

Address :

Flat No. 102, 1st Ftoor, Nageshwar Krupa, Ratan Bhuvan No. 2 CHSL, Garden Lane, Ghalkopar (West), Mumbai - 400 086 Maharashtra, India

Qualification :

B.com., F.C.S.

Email:

Vedkishor1@rediffmail.com

Kishore.ved@gmail.com

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2014

 

Names of Shareholders

 

No. of Shares

Motilal Saraf

 

37600

Saral Saraf (Trustee of Sarla Family Benefit Trust)

 

28200

Kumkum Bagaria (Executor of Late Mr. Sunhash Bagaria)

 

32900

Total

 

98700

 

 

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 30.09.2014

 

Category

Percentage

Directors or relatives of Directors

38.10

Other top fifty shareholders

61.90

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Trader of Wooden Floorings

 

 

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

ICICI Bank Limited

Branch Address

Regional Office, A9, Phelps Building, Inner Circle, Connaught Place, New Delhi - 110001, Delhi, 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

 

 

Vehicles Loans From Banks

0.442

0.352

SHORT TERM BORROWING

 

 

Buyers Credit From Bank

5.386

3.363

Total

5.828

3.715

 

Auditors :

 

Name :

K C Todarwal and Company

Chartered Accountants

Address :

615, Maker Chambers, Nariman Point, Mumbai – 400 021, Maharashtra, India

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

AABPT1549A

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associates Company :

Rusco Pharma Private Limited

 

 

 

 

 

CAPITAL STRUCTURE

 

AS ON 3.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

100000

Equity Shares

Rs.100/- each

Rs.10.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

98700

Equity Shares

Rs.100/- each

Rs.9.870 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

9.870

9.870

9.870

(b) Reserves & Surplus

91.328

79.526

67.828

(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)

101.198

89.396

77.698

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

0.442

0.352

1.447

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long term liabilities

0.800

0.634

0.733

(d) long-term provisions

0.000

0.000

0.000

Total Non-current Liabilities (3)

1.242

0.986

2.180

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

18.429

14.606

16.964

(b) Trade payables

26.651

23.663

22.074

(c) Other current liabilities

91.016

81.614

72.277

(d) Short-term provisions

0.000

0.000

0.000

Total Current Liabilities (4)

136.096

119.883

111.315

 

 

 

 

TOTAL

238.536

210.265

191.193

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

18.192

15.885

15.549

(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

0.407

0.407

0.407

(c) Deferred tax assets (net)

2.097

1.900

1.684

(d)  Long-term Loan and Advances

5.834

5.049

6.133

(e) Other Non-current assets

0.598

0.638

0.549

Total Non-Current Assets

27.128

23.879

24.322

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

125.348

103.816

91.377

(c) Trade receivables

63.705

60.877

55.198

(d) Cash and cash equivalents

3.506

8.272

10.792

(e) Short-term loans and advances

4.275

2.857

1.804

(f) Other current assets

14.574

10.564

7.700

Total Current Assets

211.408

186.386

166.871

 

 

 

 

TOTAL

238.536

210.265

191.193

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

375.521

295.751

280.435

 

Other Income

3.486

8.901

1.594

 

TOTAL (A)

379.007

304.652

282.029

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

0.000

0.000

0.000

 

Purchases of Stock-in-Trade

237.732

174.089

151.030

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

(21.532)

(12.438)

(11.649)

 

Employees benefits expense

52.890

47.071

43.006

 

Other expenses

84.989

70.811

73.419

 

TOTAL (B)

354.079

279.533

255.806

 

 

 

 

 

Less

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)

24.928

25.119

26.223

 

 

 

 

 

Less

FINANCIAL EXPENSES (D)

4.746

4.809

4.193

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)

20.182

20.310

22.030

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION (F)

2.577

2.701

2.736

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX (E-F)   (G)

17.605

17.609

19.294

 

 

 

 

 

Less

TAX (H)

5.804

5.911

6.462

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX  (G-H)   (I)

11.801

11.698

12.832

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

120

119

130

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

0.462

1.080

1.791

Cash generated from operations

6.453

14.554

NA

Net cash flows from (used in) operations

(6.002)

(6.127)

NA

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

3.14

3.96

4.58

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

6.64

8.49

9.35

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

7.46

8.47

10.20

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.17

0.20

0.25

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

0.19

0.18

0.26

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.55

1.55

1.50

 

 

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

9.870

9.870

9.870

Reserves & Surplus

67.828

79.526

91.328

Money received against share warrants

0.000

0.000

0.000

 Share Application money pending allotment

0.000

0.000

0.000

Net worth

77.698

89.396

101.198

 

 

 

 

long-term borrowings

1.447

0.352

0.442

Short term borrowings

16.964

14.606

18.429

Current maturities of long-term debts

1.791

1.080

0.462

Total borrowings

20.202

16.038

19.333

Debt/Equity ratio

0.260

0.179

0.191

 

 

 

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

280.435

295.751

375.521

 

 

5.462

26.972

 

 

 

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

280.435

295.751

375.521

Profit

12.832

11.698

11.801

 

4.58%

3.96%

3.14%

 

 

 

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

No

8

Designation of contact person

No

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

 

 

FINANCIAL RESULTS:

 

 During the year, the Company has earned Net Profit after Taxation of Rs.11.801 Million (Previous Year: Net Profit after Taxation of Rs. 11.698 Million).

 

OPERATIONS:

During the year, Sales have increased by 27% as compared to previous year. However, the adverse hit on profits during the year was mainly due to the adverse exchange rates of both, Euro and US Dollars. Due to difficult market conditions, the Company was unable to pass on the increased cost due to fluctuations in the forex market to its customers fully. The Company has taken steps to take care of this in the current year.

 

 

UNSECURED LOAN

 

Particulars

As on

31.03.2014

As on

31.03.2013

SHORT TERM BORROWING

 

 

From Directors

13.043

11.242

Total

13.043

11.242

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10461362

24/12/2013 *

70,000,000.00

ICICI Bank LIMITED

REGIONAL OFFICE,A9, PHELPS BUILDING, INNER CIRCLE, CONNAUGHT PLACE, NEW DELHI - 110001, INDIA

B94128840

 

* Date of charge modification

 

 

FIXED ASSETS

·         Computers

·         Software Developments

·         Furniture and Fixtures

·         Motor Car

·         Office Equipments

·         Electrical Fittings

·         Air Conditioners

 

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.63.37

UK Pound

1

Rs.98.86

Euro

1

Rs.69.97

 

 

INFORMATION DETAILS

 

Information Gathered by :

PPT

 

 

Analysis Done by :

DIV

 

 

Report Prepared by :

GTA

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

6

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

0

--BUSINESS SCALE

1~10

5

--PROFITABILITY

1~10

6

--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.