MIRA INFORM REPORT

 

 

Report No. :

332006

Report Date :

14.07.2015

           

IDENTIFICATION DETAILS

 

Name :

NISHIGANDHA POLYMERS PRIVATE LIMITED

 

 

Registered Office :

3rd Floor, Rustom Building, 29 Veer Nariman Road, Mumbai – 400023, Maharashtra

Tel. No.:

91-22-22881294/ 22820901/ 22842712

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

23.03.1992

 

 

Com. Reg. No.:

11-066018

 

 

Capital Investment / Paid-up Capital :

Rs. 8.000 Million

 

 

CIN No.:

[Company Identification No.]

U24134MH1992PTC066018

 

 

IEC No.:

0398065519

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AAACN6044J

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Trader and Exporter of Synthetic Rubbers and Rubber Chemicals.

 

 

No. of Employees :

19 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (30)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

 

Maximum Credit Limit :

USD 71000

 

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Exist

 

 

Comments :

NPPL incorporated in 1992, is based in Mumbai (Maharashtra). It trades in synthetic rubber. Subject is an established company having moderate track record.

 

As per Registrar of Companies the date of balance sheet (i.e. financial filed) is shown as 31.03.2014 but the documents related to the financial are not been available from any sources.

 

From the financials 2013, ratings on Nishigandha Polymers Private Limited (NPPL) continue to reflect NPPL’s established market position, modest scale of operations and profit margin, supported by its policy of sole dealership for niche backed by the promoter’s extensive experience in the industry.

 

These rating strength are partially offset by company’s weak financial risk profile marked by weak interest coverage ratio because of low and volatile operating profit, and its working capital intensive operations.

 

However, trade relations are fair. Business is active. Payment terms are reported to be slow but correct.

 

In the view of extensive experience of promoters, subject 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 – 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

CRISIL

Rating

Long Term Rating BB-

Rating Explanation

Inadequate credit quality and high credit risk.

Date

09.07.2014

 

 

Rating Agency Name

CRISIL

Rating

Short Term Rating A4+

Rating Explanation

Minimal degree of safety and very high credit risk

Date

09.07.2014

 

 

RBI DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

 

 

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2013.

 

 

INFORMATION PARTED BY

 

Name :

Mr. Tarun Oza

Designation :

Accounts and Administrative Manager

Contact No.:

91-22-22881294

Date :

13.07.2015

 

 

LOCATIONS

 

Registered Office/ Warehouse :

3rd Floor, Rustom Building, 29 Veer Nariman Road, Mumbai – 400023, Maharashtra, India

Tel. No.:

91-22-22881294/ 22820901/ 22842712

Fax No.:

91-22-22881295

E-Mail :

accounts@nishiganhapolymers.com

info@nishigandhapolymers.com

rohitkravani@yahoo.com

more@bom2.vsnl.net.in

Website :

www.nishigandhapolymers.com

Location :

Owned

Locality :

Commercial

 

 

Representative Offices :

Located at:

 

·         Ahmedabad

·         Bangalore

·         Chennai

·         Delhi

·         Kolkata

·         Pune

 

 

DIRECTORS

 

AS ON 30.09.2014

 

Name :

Mr. Anilkumar Sanwalram More

Designation :

Director

Address :

92, Mistry Park, 77, Bhulabhai Desai Road, Mumbai-400026, Maharashtra, India

Date of Birth/Age :

30.11.1956

Date of Appointment :

30.09.2014

DIN No.:

02445583

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

U51900MH1988PTC049870

CHINTAN EXPORTS PRIVATE LIMITED

Director

12/11/1990

12/11/1990

-

Active

NO

2

U51900MH1990PTC057760

MORE MARKETING PRIVATE LIMITED

Whole-time director

01/04/2007

01/06/1993

-

Active

NO

3

U51900MH1990PTC057567

TRIDENT MERCANTILE PRIVATE LIMITED

Whole-time director

01/04/2006

03/12/2003

-

Active

NO

4

U67120MH1980PTC023478

EATON INVESTMENT AND TRADING COMPANY PRIVATE LIMITED

Director

29/09/2012

18/11/2011

-

Active

NO

5

U24290MH2013PTC241905

2M POLYMERS PRIVATE LIMITED

Director

15/04/2013

15/04/2013

-

Active

NO

6

U51900MH2012PTC238102

MANASYAM MERCANTILE PRIVATE LIMITED

Additional director

31/07/2013

31/07/2013

15/02/2014

Active

NO

7

U24134MH1992PTC066018

NISHIGANDHA POLYMERS PRIVATE LIMITED

Director

30/09/2014

10/03/2014

-

Active

NO

 

 

Name :

Mr. Rohit Kantilal Ravani

Designation :

Whole-time director

Address :

201, Kailash Krishna Kaveri Society, Bhardawadi Road, Andheri (West), Mumbai-400058, Maharashtra, India

Date of Birth/Age :

09.09.1956

Date of Appointment :

01.04.2007

DIN No.:

01803368

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

U24134MH1992PTC066018

NISHIGANDHA POLYMERS PRIVATE LIMITED

Whole-time director

01/04/2007

24/04/1997

-

Active

NO

2

U45201MP2008PTC020886

SHRIYASH INFRATECH PRIVATE LIMITED

Director

20/04/2012

20/04/2012

-

Active

NO

 

 

KEY EXECUTIVES

 

Name :

Mr. Tarun Oza

Designation :

Accounts and Administrative Manager

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2014

 

NOTE: SHAREHOLDING DETAILS FILE ATTACHED

 

 

AS ON 30.09.2014

 

Equity Share Breakup

Percentage of Holding

Category

 

Directors or relatives of directors

100.00

 

 

Total

 

100.00

 

 

 

 

BUSINESS DETAILS

 

Line of Business :

Trader and Exporter of Synthetic Rubbers and Rubber Chemicals.

 

 

Brand Names :

--

 

 

Agencies Held :

--

 

 

Exports :

 

Products :

Synthetic Rubbers and Rubber Chemicals

Countries :

·         UK

·         USA

·         Japan

 

 

Imports :

 

Products :

Raw material

Countries :

·         China

·         Japan

·         Netherland

 

 

Terms :

 

Selling :

Cash, Cheque and Credit

 

 

Purchasing :

Cash, Cheque and Credit

 

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference:

Not Divulged

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

·         Abhinav Polychem Private Limited

·         Bharat Polymers

·         Kohinoor India Private Limited

·         Prabhat Industries

·         R P International

·         Uni Alliance Limited

 

 

Customers :

Wholesalers and Retailers

 

Reference:

Not Divulged

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

·         Ace Oilchem Private Limited

·         Advance Multitech Limited

·         Advent Chemicals

·         Apar Industries Limited

·         B.P. Chemicals

·         Chem Fine

·         Crystal Marketing

 

 

No. of Employees :

19 (Approximately)

 

 

Bankers :

Bank Name:

Punjab and Sind Bank

Branch:

Opera House Branch, 78, J.S.S. Road, Opera House, Mumbai - 400004, Maharashtra, India

Person Name (with Designation):

Mr. Amit Shrivastava (Chief Manager)

Contact Number:

91-22-23690936

Name of Account Holder:

Nishigandha Polymers Private Limited

Account Number:

Not Divulged

Account Since (Date/ Year of A/c Opening):

25 Years

Average Balance Maintained (Optional):

Not Divulged

Credit Facilities Enjoyed (CC/OD/Term Loan):

Cash Credit = Rs. 130.000 Million

Account Operation:

Satisfactory

Remarks:

Mr. Amit Shrivastava (Chief Manager) informed that they are satisfied with subject company in payment behaviour. Overall it’s a very good company.

 

·         Central Bank of India

·         ICICI Bank Limited

·         State Bank of India

·         Yes Bank Limited

·         Axis Bank Limited

 

 

Facilities :

SECURED LOANS

31.03.2013

(Rs. In Million)

31.03.2012

(Rs. In Million)

SHORT TERM BORROWINGS

 

 

Loans repayable on demand

0.000

6.545

 

 

 

Total

 

0.000

6.545

 

 

 

Auditors :

 

Name :

N.B.S and Associates

Chartered Accountants

Address :

B/302 Purnima, 36/37, Shree Nagar Society, M.G. Road, Goregoan (West), Mumbai – 400062, Maharashtra, India

Tel. No.:

91-22-28762563

Mobile No.:

91-9821047955

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

AAACT3330K

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Associates/Subsidiaries :

Not Available

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2013

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

900,000

Equity Shares

Rs. 10/- each

Rs. 9.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

800,040

Equity Shares

Rs. 10/- each

Rs. 8.000 Million

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2013

31.03.2012

31.03.2011

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

8.000

8.000

1.370

(b) Reserves & Surplus

16.963

10.554

12.509

(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)

24.963

18.554

13.879

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

59.169

55.324

45.015

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long term liabilities

1.081

1.138

6.402

(d) long-term provisions

0.000

0.000

0.000

Total Non-current Liabilities (3)

60.250

56.462

51.417

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

26.996

17.905

15.275

(b) Trade payables

451.585

374.678

285.073

(c) Other current liabilities

3.351

1.726

0.000

(d) Short-term provisions

0.000

0.034

0.386

Total Current Liabilities (4)

481.932

394.343

300.734

 

 

 

 

TOTAL

567.145

469.359

366.030

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

2.118

0.829

0.632

(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)

0.069

0.068

0.061

(d)  Long-term Loan and Advances

17.023

7.150

2.223

(e) Other Non-current assets

0.642

0.640

0.085

Total Non-Current Assets

19.852

8.687

3.001

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

200.333

239.010

165.158

(c) Trade receivables

262.766

185.315

153.789

(d) Cash and cash equivalents

80.217

33.965

43.327

(e) Short-term loans and advances

3.977

2.382

0.755

(f) Other current assets

0.000

0.000

0.000

Total Current Assets

547.293

460.672

363.029

 

 

 

 

TOTAL

567.145

469.359

366.030

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2013

31.03.2012

31.03.2011

 

SALES

 

 

 

 

 

TOTAL                                    

878.819

674.164

587.354

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

TOTAL                                    

869.172

671.033

579.695

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION

9.647

3.131

7.659

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                    

0.240

0.124

0.099

 

 

 

 

 

 

PROFIT BEFORE TAX

9.407

3.007

7.560

 

 

 

 

 

Less

TAX                                                                 

2.999

0.962

2.333

 

 

 

 

 

 

PROFIT AFTER TAX

6.408

2.045

5.227

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

Export Earnings

5.061

0.000

NA

 

 

 

 

 

 

Earnings Per Share (Rs.)

8.01

2.56

38.15

 

 

PARTICULARS

 

31.03.2016

31.03.2015

31.03.2014

Sales Turnover (Approximately)

1050.000

990.000

906.400

 

 

 

 

 

The above information has been parted by Mr. Tarun Oza (Accounts and Administrative Manager)

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2013

31.03.2012

31.03.2011

Current Maturities of Long term debt

NA

NA

NA

 

 

 

 

Cash Generated from Operations

43.766

(16.606)

NA

 

 

 

 

Net Cash Flow from / (used in) Operating activities

40.766

(17.575)

NA

 

 

KEY RATIOS

 

 

PARTICULARS

 

 

31.03.2013

31.03.2012

31.03.2011

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

1.66

0.64

2.07

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.38

0.16

0.54

 

 

 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 

3.45

3.95

4.34

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.14

1.17

1.21

 

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

 

 

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2011

31.03.2012

31.03.2013

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

1.370

8.000

8.000

Reserves & Surplus

12.509

10.554

16.963

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

0.000

0.000

0.000

Net worth

13.879

18.554

24.963

 

 

 

 

Long-term borrowings

45.015

55.324

59.169

Short term borrowings

15.275

17.905

26.996

Total borrowings

60.290

73.229

86.165

Debt/Equity ratio

4.344

3.947

3.452

 

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2011

31.03.2012

31.03.2013

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Total Income

587.354

674.164

878.819

 

 

14.780

30.357

 

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2011

31.03.2012

31.03.2013

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Total Income

587.354

674.164

878.819

Profit

5.227

2.045

6.408

 

0.89%

0.30%

0.73%

 

 

 

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

No

18

Major suppliers

Yes

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

No

26

Turnover of firm for last three years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

Yes

29

Profitability for last three years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

Yes

32

Litigations that the firm/promoter involved in

Yes

33

Market information

--

34

Payments terms

Yes

35

Negative Reporting by Auditors in the Annual Report

No

 

LITIGATION DETAILS

 

HIGH COURT OF BOMBAY

 

CASE DETAILS

BENCH: BOMBAY

Presentation Date: 01.02.2014

Lodging No: CHSL/171/2014    Filing Date: 01.02.2014     Reg. No.: CHS/250/2014    Reg. Date: 21.03.2014

Main Matter

Lodging No: SL/14/2014                                                   Reg. No.: S/173/2014

Petitioner: MODERN INDIA LTD AND 3 ORS.                 Respondent: NISHIGANDHA POLYMERS PRIVATE LIMITED

                                                                                            Resp. Adv.: LAW CHARTER (0)

District: MUMBAI

Bench: SINGLE

Status: Pre-Admission                                                                Category: CHAMBER SUMMONS

Last Date: 10.07.2015                                                                Stage:

Last Coram: HON’BLE SHRI JUSTICE S.J. KATHAWALLA

Act: Code of Civil Procedure 1908

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10173124

29/08/2011 *

160,000,000.00

PUNJAB & SIND BANK

78 J.S.S. ROAD, OPERA HOUSE, MUMBAI, MAHARASHTRA 
- 400004, INDIA

B21151642

2

10074410

28/08/2007

10,000,000.00

PUNJAB & SIND BANK

OPERA HOUSE, MUMBAI, MAHARASHTRA - 400004, INDIA

A26377952

3

10074423

22/08/2007

14,500,000.00

PUNJAB & SIND BANK

OPERA HOUSE, MUMBAI, MAHARASHTRA - 400004, INDIA

A26379255

 

* Date of charge modification

 

 

UNSECURED LOANS

 

PARTICULARS

31.03.2013

(Rs. In Million)

31.03.2012

(Rs. In Million)

LONG-TERM BORROWINGS

 

 

From other parties

55.399

50.152

Loans and advances from related parties

3.770

5.172

SHORT TERM BORROWINGS

 

 

From other parties

10.504

0.224

Loans and advances from related parties

16.492

11.136

 

 

 

Total

 

86.165

66.684

 

 

FIXED ASSETS:

 

·         Office premises

·         Machinery

·         Furniture and Fixture

·         Vehicles

·         Office Equipment

·         Computers and Printers

 

 

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. 63.47

UK Pound

1

Rs. 98.47

Euro

1

Rs. 70.69

 

 

INFORMATION DETAILS

 

Information Gathered by :

GYT

 

 

Analysis Done by :

KAS

 

 

Report Prepared by :

BVA

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

4

PAID-UP CAPITAL

1~10

3

OPERATING SCALE

1~10

4

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

4

--PROFITABILIRY

1~10

3

--LIQUIDITY

1~10

3

--LEVERAGE

1~10

3

--RESERVES

1~10

3

--CREDIT LINES

1~10

3

--MARGINS

-5~5

--

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

YES

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

YES

--AFFILIATION

YES/NO

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

30

 

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.