MIRA INFORM REPORT

 

 

Report No. :

332879

Report Date :

24.07.2015

 

IDENTIFICATION DETAILS

 

Name :

M K AGROTECH PRIVATE LIMITED

 

 

Registered Office :

M B Road, Srirangapatana, Mandya – 571438, Karnataka

Tel. No.:

91-8236-252022

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

26.06.1995

 

 

Com. Reg. No.:

08-018144

 

 

Capital Investment / Paid-up Capital :

Rs.9.900 Million

 

 

CIN No.:

[Company Identification No.]

U01514KA1995PTC018144

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AADCM7734K

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Subject is engaged in the business of Manufacturing of Edible Oils and Generation of Wind Mill Energy.

 

 

No. of Employees :

Information declined by the management.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (50)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

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

Satisfactory

 

Maximum Credit Limit :

USD 3200000

 

 

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 healthy networth position with good profitability and favourable gap between trade payables and trade receivable.

 

Trade relations are reported as fair. Business is active. Payment terms are reported reported to be usually correct and as per commitments.

 

In view of long standing record and sound 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

CRISIL

Rating

Long term rating : BBB+

Rating Explanation

Moderate degree of safety and carry moderate credit risk.

Date

July, 2015

 

Rating Agency Name

CRISIL

Rating

Short term rating : A2

Rating Explanation

Strong degree of safety and carry low credit risk.

Date

July, 2015

 

 

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 BY

 

Name :

Mr. Jalani

Designation :

Accountant

Contact No.:

91-8236-252787

Date :

22.07.2015

 

 

LOCATIONS

 

Registered Office / Factory  :

M B Road, Srirangapatana, Mandya – 571438, Karnataka, India

Tel. No.:

91-8236-252022 / 252787

Fax No.:

91-8236-252837

E-Mail :

sunpure@masoom.in

 

 

DIRECTORS

 

AS ON 30.09.2014

 

Name :

Subhan Khan

Designation :

Managing director

Address :

#104, 2nd Main, C Layout, Bannimantap, Mysore - 570015, Karnataka, India

Date of Birth/Age :

11.06.1954

Date of Appointment :

26.06.1995

DIN No.:

00274973

 

 

Name :

Hannan Khan

Designation :

Additional director

Address :

No.104, 2nd Main, C Layout, Bannimantap, Mysore - 570015, Karnataka, India

Date of Appointment :

10.11.2014

DIN No.:

07013517

 

 

Name :

Mannan Khan

Designation :

Additional director

Address :

No.104, C Layout, 2nd Main, Bannimantap, Mysore - 570015, Karnataka, India

Date of Appointment :

10.11.2014

DIN No.:

07013523

 

 

Name :

Salma Subhan

Designation :

Director

Address :

104, Khan S, Bannimantap C Layout, Mysore - 570015, Karnataka, India

Date of Birth/Age :

07.01.1964

Date of Appointment :

26.06.1995

DIN No.:

00275011

 

 

Name :

Mohammed Imran Khan

Designation :

Director

Address :

104, Khan's, Bannimantap C Layout, Mysore - 570015, Karnataka, India

Date of Birth/Age :

06.02.1980

Date of Appointment :

26.06.1998

DIN No.:

00281147

 

 

KEY EXECUTIVES

 

Name :

Mr. Jalani

Designation :

Accountant

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2014

 

Names of Shareholders

No. of Shares

%age holding

Subhan Khan

2700

27.27

Salma Subhan

2400

24.24

Mohammed Imran Khan

1200

12.12

Farah Khan

1200

12.12

Abdul Mannan Khan

1200

12.12

Abdul Hannan Khan

1200

12.12

Total

9900

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 :

Subject is engaged in the business of Manufacturing of Edible Oils and Generation of Wind Mill Energy.

 

 

Products :
  • Edible oils
  • Generation of Wind Mill Energy

 

 

Brand Names :

‘SUNPURE’

 

 

Agencies Held :

Not Divulged

 

 

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 :

Bank Name

State Bank of India

Branch

Commercial Branch, Mrn Signature,

V M Double Road, Saraswathi Puram, Mysore - 570009, Karnataka, 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 :

Secured Loan

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

Long-term Borrowings

 

 

Rupee term loans from banks

(Secured by Mortgage of 13 Nos. Windmill at Kalaspura, Gadag, Personal Guarantee of all the Directors)

370.816

395.352

Rupee term loans from others

(ii) Reliance Capital Limited - Term Loan (Secured by Mortgage of Land & Building, Personal Guarantee of all the Directors) (iii) Daimler - Vehicle Loan (Secured by Mortgage of 6 Nos of Daimler Trucks, Personal Guarantee of all the Directors)

159.873

224.352

Short-term borrowings

 

 

Rupee term loans from banks

(i) Secured by Hypothecation of Stock, Receivable and Other Current Asset, Equitable Mortgage of residential sites of a Director, Equitable Mortgage of Factory Buildings and Machineries and Personal Guarantee of all the Directors (Repayable within a year

Rs.1475.391 Million)

1475.391

1469.158

Loans repayable on demand from banks

0.000

535.478

Loans repayable on demand from others

(SBI Mysore CC (SBI) - (v) Details of Short Term borrowings guaranteed by the directors: Particulars As at March 31, 2014 As at March 31, 2013 (a) Buyer's Credit 1475.391 Million Rs.1469.157 Million (b) SBI Cash Credit Rs.5.678 Million Rs.23.406 Million Total Rs.1481.068 Million Rs.1492.564 Million)

5.678

23.407

 

 

 

Total

2011.758

2647.747

 

Financial Institutition :

Reliance Capital Limited, "H" Block 1st Floor, Dhirubhai Ambani Knowledge City, Koparkhairne, Navi Mumbai - 400710, Maharashtra, India

 

 

Auditors :

 

Name :

Murugesh and Company

Chartered Accountants

Address :

Kurpad, No.162,15th Main, 35th Cross Jayanagar, 4th T Block, Bangalore, Karnataka, India

PAN No.:

ADVPM5752D

 

 

Memberships :

--

 

 

Collaborators :

---

 

 

Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives :
  • MK Eco Power Private Limited [U40104KA2011PTC061715]
  • MK Infra Holdings Private Limited [U70102KA2011PTC058444]
  • M K Engineering

 

 

Company /Concern in which KMP can Exercise Significant Influence :
  • Habib Agro Industries
  • Habib Solvex Private Limited (earlier known as Habib Solvex)
  • N K Agro Oil Private Limited

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

9,900

Equity Shares

Rs.1000/- each

Rs.9.900 Million

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

9,900

Equity Shares

Rs.1000/- each

Rs.9.900 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

9.900

9.900

9.900

(b) Reserves & Surplus

1112.935

926.295

1253.451

(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)

1122.835

936.195

1263.351

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

568.867

639.328

439.984

(b) Deferred tax liabilities (Net)

0.000

0.000

63.558

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

3.461

2.745

2.092

Total Non-current Liabilities (3)

572.328

642.073

505.634

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

1481.069

2028.043

5487.339

(b) Trade payables

43.422

97.330

60.808

(c) Other current liabilities

162.917

123.124

147.003

(d) Short-term provisions

65.750

0.860

22.842

Total Current Liabilities (4)

1753.158

2249.357

5717.992

 

 

 

 

TOTAL

3448.321

3827.625

7486.977

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

1211.053

1059.994

1217.707

(ii) Intangible Assets

1.291

2.152

2.386

(iii) Capital work-in-progress

4.964

179.752

0.000

(iv) Intangible assets under development

7.072

0.000

0.000

(b) Non-current Investments

35.467

36.121

89.271

(c) Deferred tax assets (net)

77.885

200.531

0.000

(d)  Long-term Loan and Advances

219.598

155.156

25.123

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

1557.330

1633.706

1334.487

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

2200.000

(b) Inventories

593.098

777.317

909.289

(c) Trade receivables

155.556

157.499

101.627

(d) Cash and cash equivalents

976.730

1097.321

2527.836

(e) Short-term loans and advances

161.844

149.504

253.096

(f) Other current assets

3.763

12.278

160.642

Total Current Assets

1890.991

2193.919

6152.490

 

 

 

 

TOTAL

3448.321

3827.625

7486.977

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

6900.167

7751.985

9160.084

 

Other Income

65.404

139.479

527.074

 

TOTAL

6965.571

7891.464

9687.158

 

 

 

 

 

Less

EXPENSES

 

 

 

 

TOTAL

6475.371

8417.767

9528.645

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

490.200

(526.303)

158.513

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

180.602

85.504

49.408

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

309.598

(611.807)

109.105

 

 

 

 

 

Less

TAX

122.958

(284.651)

32.761

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

186.640

(327.156)

76.344

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

F.O.B. Value of Exports

130.696

Nil

Nil

 

Other Incidental Income

1.859

Nil

Nil

 

TOTAL EARNINGS

132.555

Nil

Nil

 

 

 

 

 

 

IMPORTS

 

 

 

 

Raw materials

3617.751

663.820

2290.150

 

Finished Goods

Nil

271.116

3994.705

 

Packing Material

17.346

8.085

24.012

 

Spares & Consumables

0.000

0.000

2.446

 

Capital Goods

0.000

0.000

0.000

 

TOTAL IMPORTS

3635.097

943.021

6311.313

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

 18852.53

(33046.06)

7711.52

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

120.215

79.386

46.368

Cash generated from operations

NA

NA

NA

Net cash flows from (used in) operations

798.216

2791.662

2395.630

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

2.70

(4.22)

0.83

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

9.32

(17.94)

1.47

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.28

(0.65)

0.09

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

1.93

2.93

4.73

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.08

0.98

1.08

 

 

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

9.900

9.900

9.900

Reserves & Surplus

1253.451

926.295

1112.935

Share Application money pending allotment

0.000

0.000

0.000

Net worth

1263.351

936.195

1122.835

 

 

 

 

long-term borrowings

439.984

639.328

568.867

Short term borrowings

5487.339

2028.043

1481.069

Current Maturities of Long Term Debt

46.368

79.386

120.215

Total borrowings

5973.691

2746.757

2170.151

Debt/Equity ratio

4.728

2.934

1.933

 

 

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

9160.084

7751.985

6900.167

 

 

(15.372)

(10.988)

 

 

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

9160.084

7751.985

6900.167

Profit/Loss

76.344

(327.156)

186.640

 

0.83%

(4.22%)

2.70%

 

 

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

Yes

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

Yes

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

 

UNSECURED LOAN

 

 

PARTICULARS

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

Long-term Borrowings

 

 

Loans and advances from related parties

38.178

19.624

 

 

 

Total

38.178

19.624

 

CONTINGENT LIABILITIES:

 

PARTICULARS

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

Claims against the company not acknowledged as debt

 

 

Taxes in dispute:-Service Tax Demand levied by the Service tax Authorities on services received from foreign agencies contested in appeal

4.894

Nil

As against Income Tax assessment Order for the AY 2011-12 Contested before Income Tax Commissioner Appeals Mysore

15.719

Nil

Karnataka Sales Tax Demand levied by the Karnataka Commercial Tax Authorities for Year ending 31.03.2005 is contested in appeal

8.542

8.542

Total

29.155

8.542

 

GENERAL INFORMATION

 

The company was incorporated in 1995 to carry on operations of manufacture and selling of Edible oils. A market leader in south India for its refined sunflower oil under the popular brand name ‘SUNPURE’. The Company has received award for being the highest processor of sunflower cake on all India basis for the past 13 years from the Solvent Extractors Association of India.

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10306043

17/08/2011

423,373,800.00

AXIS BANK LIMITED

CREDIT MANAGEMENT CENTRE, NO.41, SESHADRI ROAD, A 
NANDRAO CIRCLE, BANGALORE, KARNATAKA - 560009, IND 
IA

B20433751

2

90196946

23/04/2011 *

1,545,000,000.00

STATE BANK OF INDIA

COMMERCIAL BRANCH, MRN SIGNATURE, V M DOUBLE ROAD 
, SARASWATHIPURAM, MYSORE, KARNATAKA - 570009, IND 
IA

B13950209

3

90198859

18/01/2000 *

21,500,000.00

STATE BANK OF INDIA

COMMERCIAL BRANCH, SARASWATHIPURAM, MYSORE, KARNA 
TAKA, INDIA

-

 

* Date of charge modification

 

 

FIXED ASSETS

 

  • Land
  • Buildings
  • Plant and equipment
  • Furniture and fixtures
  • Vehicles
  • Office equipment
  • Computer equipments

 

 

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.63.71

UK Pound

1

Rs.99.57

Euro

1

Rs.69.63

 

 

INFORMATION DETAILS

 

Information Gathered by :

KMN

 

 

Analysis Done by :

DIV

 

 

Report Prepared by :

SNT

 

 

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

5

--PROFITABILITY

1~10

6

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--RESERVES

1~10

7

--CREDIT LINES

1~10

5

--MARGINS

-5~5

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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

 

50

 

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.