MIRA INFORM REPORT

 

 

Report No. :

331541

Report Date :

13.07.2015

 

IDENTIFICATION DETAILS

 

Name :

SUMIP COMPOSITES PRIVATE LIMITED

 

 

Registered Office :

39/A Panchratna Industry Estate Sarkhej Bavla Road, Sanand, Ahmedabad – 382213, Gujarat

Tel. No.:

91-2717-610711 to 720

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

23.12.1997

 

 

Com. Reg. No.:

04-033476

 

 

Capital Investment / Paid-up Capital :

Rs. 9.000 Million

 

 

CIN No.:

[Company Identification No.]

U72200GJ1997PTC033476

 

 

IEC No.:

0899002218

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AADCS3745A

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer of Industrial Electrical and Fiberglass (FRP/GRP) products

 

 

No. of Employees :

50 (Approximately)

 

 

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 150000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

Comments :

Subject was incorporated 23rd December 1997, it is established company having satisfactory track record.

 

During FY 2014, company have perform above an average in its business operation and reported top line growth of 24.39% in its sales turnover and its profitability stood at 3.47% backed by its debt to equity 2.32 times.

 

The general financial position of the company seems to sound and healthy.

 

Rating further take consideration on established track record of the company backed by its experienced promoter.

 

Trade relation are fair. Business is active. Payments are reported to be usually correct.

 

In view of sound operational and financial based, 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 PARTED BY

 

Name :

Mr. Paresh Patel

Designation :

Account Manager

Contact No.:

91-2717-610711

Date :

11.07.2015

 

 

LOCATIONS

 

Registered Office :

39/A Panchratna Industry Estate Sarkhej Bavla Road, Sanand, Ahmedabad – 382213, Gujarat, India

Tel. No.:

91-2717-610711 to 720

Fax No.:

91-79-26932424

E-Mail :

sales@sumip.com

tax@sumip.com

Website :

www.sumip.com

 

 

Marketing Office :

1 to 5 Panchratna Industry Estate Sarkhej Bavla Road, Sanand, Ahmedabad – 382213, Gujarat, India

 

 

Factory :

310-312, Sahajanand Palace 100ft Anand Nagar Road, Satellite, Ahmedabad – 380051, Gujarat, India

Tel. No.:

91-79-26933456

Fax No.:

91-79-26932424

 

 

DIRECTORS

 

As on 30.09.2014

 

Name :

Mr. Mitesh N. Shah

Designation :

Managing Director

Address :

10, SETU Bunglow, Near Riddhi Siddhi Society, Near Prahladnagar, Vejalpur, Ahmedabad – 380051, Gujarat, India

Date of Birth/Age :

16.06.1964

Date of Appointment :

23.12.1997

DIN No.:

02029811

 

 

Name :

Mr. Narendrabhai Shah

Designation :

Director

Address :

10, SETU Bunglow, Near Riddhi Siddhi Society, Near Prahladnagar, Vejalpur, Ahmedabad – 380051, Gujarat, India

Date of Birth/Age :

19.10.1935

Date of Appointment :

23.12.1997

DIN No.:

02492031

 

 

Name :

Mr. Pulin N. Shah

Designation :

Director

Address :

11, SETU Bunglow, Near Riddhi Siddhi Society, Near Prahladnagar, Vejalpur, Ahmedabad – 380051, Gujarat, India

Date of Birth/Age :

21.12.1970

Date of Appointment :

23.12.1997

DIN No.:

02047138

 

 

Name :

Mr. Suhrud N. Shah

Designation :

Director

Address :

B – 3, Mallhar Bunglow, Opposite, Reliance Petrol Pump, Anand Nagar Char Rasta, Satellite, Ahmedabad – 380051, Gujarat, India

Date of Birth/Age :

21.08.1967

Date of Appointment :

01.05.2006

DIN No.:

03028726

 

 

KEY EXECUTIVES

 

Name :

Mr. Paresh Patel

Designation :

Account Manager

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 30.09.2014

 

Names of Shareholders

No. of Shares

%age holding

Mitesh Narendrabhai Shah

200000

22.22

Narendrabhai Sakarchand Shah

284900

31.66

NArendrabhai Sakarchand Shah HUF

100

0.01

Pulin NArendrabhai Shah

200000

22.21

Shweta Mitesh Shah

5000

0.56

Suhrud NArendrabhai Shah

200000

22.22

Vaishali Suhrud Shah

5000

0.56

Geeta Pulin Shah

5000

0.56

Total

900000

100.00

 

 

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 :

Manufacturer of Industrial Electrical and Fiberglass (FRP/GRP) products

 

 

Products :

Not Available

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

 

Products :

Raw material

Countries :
  • China
  • Thailand

 

 

Terms :

 

Selling :

Cash and Credit (30/60/90 Days)

 

 

Purchasing :

Cash and Credit (30/60/90 Days)

 

PRODUCTION STATUS NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :
  • Aatish Air Travel
  • APT Engineering
  • Delhi Hyderabad Road Lines
  • Fabian Engineers
  • Jaipur Gujarat Road Lines
  • /MAruti Engineering works
  • Pest Mortem (India) Private Limited
  • Prem Road Carries
  • OM Industries
  • Jay Hind Sweet Mart

 

 

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 :

End USEs and OEM’s

 

  • Aditya Birla chemicals Limited, Thailand
  • South Asia Tyres Limited, Aurangabad
  • Hikal Chemicals Limited
  • Hindustan Dorr Oliver Liver Limited, Mumbai
  • Tata Chemical Limited
  • Ultratech Cement Limited
  • Oil India Limited
  • Reliance Industries Limited

 

Reference :

Corom Andel Fertilizers Limited

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 :

50 (Approximately) 

 

 

Bankers :

Bank Name

Bank of India

Branch

26-29 Galaxy Mall, Near Shiromani complex, S.M. Road, Satellite, Ahmedabad – 380015, 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)

Cash/Credit = Rs. 10.000 Million

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

21.000

27.003

 

 

 

SHORT TERM BORROWING

 

 

Loans repayable on demand

43.337

59.783

 

 

 

Total

64.337

86.786

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

S. J. Pathak and Company

Chartered Accountants

Address :

9, Pranav Apartments, Opposite Gurukul, Gurukul Road, Mamenagar, Ahmedabad – 380052, Gujarat, India

Tel. No.:

91-79-26469711

Mobile No.:

91-9909004044

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

APFPP3051J

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Sister concern  :
  • Sumip Marketing Services
  • Shrenik and company

 

 

 

 

 

CAPITAL STRUCTURE

 

After 30.09.2014

 

Authorised Capital : Rs. 20.000 Million

 

Issued, Subscribed & Paid-up Capital : Rs.14.625 Million

 

 

 

As on 30.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

950,000

Equity Shares

Rs.10/- each

Rs. 9.500 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

900,000

Equity Shares

Rs.10/- each

Rs. 9.000 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

9.000

9.000

9.000

(b) Reserves & Surplus

44.516

34.728

28.180

(c) Money received against share warrants

0.000

 

0.000

 

 

 

 

(2) Share Application money pending allotment

0.000

0.000

0.000

Total Shareholders’ Funds (1) + (2)

53.516

43.728

37.180

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

80.740

77.713

53.107

(b) Deferred tax liabilities (Net)

0.000

0.000

1.287

(c) Other long term liabilities

1.537

1.562

0.000

(d) long-term provisions

0.000

0.000

0.000

Total Non-current Liabilities (3)

82.277

79.275

54.394

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

43.337

59.784

36.461

(b) Trade payables

75.541

81.684

34.983

(c) Other current liabilities

12.046

12.233

10.201

(d) Short-term provisions

10.347

11.195

8.207

Total Current Liabilities (4)

141.271

164.896

89.852

 

 

 

 

TOTAL

277.064

287.899

181.426

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

160.128

132.449

96.078

(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

0.000

0.000

0.000

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

0.779

0.783

0.000

(e) Other Non-current assets

0.000

0.000

0.828

Total Non-Current Assets

160.907

133.232

96.906

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

51.456

52.123

22.565

(c) Trade receivables

37.236

27.809

41.209

(d) Cash and cash equivalents

13.828

49.219

7.521

(e) Short-term loans and advances

13.288

24.484

12.958

(f) Other current assets

0.349

1.032

0.267

Total Current Assets

116.157

154.667

84.520

 

 

 

 

TOTAL

277.064

287.899

181.426

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

281.690

221.061

192.656

 

Other Income

 NA

5.396

1.479

 

TOTAL

NA

226.457

194.135

 

 

 

 

 

Less

EXPENSES

 

 

 

 

TOTAL

266.550

216.930

189.444

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

15.140

9.527

4.691

 

 

 

 

 

Less

TAX

5.352

2.979

1.683

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

9.788

6.548

3.008

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

52.428

93.583

2.524

 

 

 

 

 

 

CIF VALUE OF IMPORTS

2.065

1.187

0.000

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

 10.87

7.27 

 3.34

 

 

Particulars

 

 

 

31.03.2015

Sales Turnover (Approximately)

 

 

300.000

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

8.999

9.241

9.279

Cash generated from operations

NA

NA

NA

 

 

KEY RATIOS

 

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

3.47

2.96

1.56

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

5.46

3.31

2.59

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.28

0.22

0.13

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

2.49

3.36

2.66

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

0.82

0.94

0.94

 

 

 

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

9.000

9.000

9.000

Reserves & Surplus

28.180

34.728

44.516

Money received against share warrants

0.000

0.000

0.000

 Share Application money pending allotment

0.000

0.000

0.000

Net worth

37.180

43.728

53.516

 

 

 

 

long-term borrowings

53.107

77.713

80.740

Short term borrowings

36.461

59.784

43.337

Current maturities of long-term debts

9.279

9.241

8.999

Total borrowings

98.847

146.738

133.076

Debt/Equity ratio

2.659

3.356

2.487

 

 

 

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 

192.656

221.061

281.690

 

 

14.744

27.426

 

 

 

 

 

 

 

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 

192.656

221.061

281.690

Profit

3.008

6.548

9.788

 

1.56%

2.96%

3.47%

 

 

 

 

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)

Yes

16

No. of employees

Yes

17

Details of sister concerns

Yes

18

Major suppliers

No

19

Major customers

Yes

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 four 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

Yes

35

Negative Reporting by Auditors in the Annual Report

No

 

 

UNSECURED LOAN

(Rs. In Million)

Particulars

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

Loans and advances frim related parties

59.740

51.711

 

 

 

Total

59.740

51.711

 

 

INDEX OF CHARGES:

 

S.No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10508017

03/07/2014

10,000,000.00

BANK OF INDIA

SURENDRA MANGALDAS ROAD BRANCH, 26-29 GALAXY MALL 
NR SHIROMANI COMPLEX, S. M. ROAD, AHMEDABAD, Gujarat - 380015, INDIA

C10504959

2

10269046

28/06/2012 *

127,200,000.00

BANK OF INDIA

SURENDRA MANGALDAS ROAD BRANCH, 26-29 GALAXY MALL, 
NR SHIROMANI COMPLEX, S. M. ROAD, SATELLITE, AHMEDABAD, Gujarat - 380009, INDIA

B43969062

3

10269024

03/07/2012 *

127,250,000.00

BANK OF INDIA

SURENDRA MANGALDAS ROAD BRANCH, 26-29 GALAXY MALL, 
NR SHIROMANI COMPLEX, S. M. ROAD, SATELLITE, AHMEDABAD, Gujarat - 380009, INDIA

B43962323

4

10137898

30/12/2008

24,476,000.00

BANK OF INDIA

SURENDRA MANGALDAS ROAD BRANCH, 15 NEMINATHNAGAR 
SOCIETY, AMBAWADI, AHMEDABAD, Gujarat - 380015, INDIA

A54758594

5

10137908

29/12/2008

11,476,000.00

BANK OF INDIA

SURENDRA MANGALDAS ROAD BRANCH, 15 NEMINATHNAGAR 
SOCIETY, AMBAWADI, AHMEDABAD, Gujarat - 380015, INDIA

A54760178

6

90105896

08/05/2003

2,000,000.00

BANK OF INDIA

VATVA INDUSTRIAL ESTATE BRANCH, 91/21; VATVA IND. 
ESTATE, AHMEDABAD, Gujarat - 382445, INDIA

-

7

90104084

02/05/2005 *

2,931,000.00

BANK OF INDIA

91/21 VATVA INDUSTRIAL ESTATE SP SSI BRANCH, AHMEDABAD, Gujarat - 382445, INDIA

-

8

90105770

08/05/2003 *

500,000.00

BANK OF INDIA

VATVA INDUSTRIAL ESTATE BRANCH, 91/21; VATVA IND. ESTATE, AHMEDABAD, Gujarat - 382445, INDIA

-

9

90106407

07/02/2000 *

500,000.00

BANK OF INDIA

VATVA INDUSTRIAL ESTATE, SP SSI BRANCH 91/21 VATVA INDUSTRIAL ESTATE VATVA, AHMEDABAD, Gujarat - 38 2445, INDIA

-

 

*Date of charge modification

 

 

FIXED ASSETS

 

  • Factory Building
  • Machinery
  • Trolley Collector
  • Dies and Molds
  • Electrical Fittings
  • Fax Machine
  • Computer And Accessories
  • Software
  • Mobile Phones
  • Lab Equipment
  • Air conditioner
  • Water Cooler

 

 

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.97.65

Euro

1

Rs.70.43

 

 

INFORMATION DETAILS

 

Information Gathered by :

PRP

 

 

Analysis Done by :

KSH

 

 

Report Prepared by :

ART

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

6

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

6

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

6

--PROFITABILITY

1~10

5

--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

 

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.