MIRA INFORM REPORT

 

 

Report No. :

334047

Report Date :

30.07.2015

 

IDENTIFICATION DETAILS

 

Name :

BHOR ENGINEERING PRIVATE LIMITED

 

 

Registered Office :

S. No.81, Shivane, NDA Road, Pune – 411023, Maharashtra

Tel. No.:

91-20-25290588

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

29.06.1998

 

 

Com. Reg. No.:

11-012652

 

 

Capital Investment / Paid-up Capital :

Rs.23.102 Million

 

 

CIN No.:

[Company Identification No.]

U29999PN1998PTC012652

 

 

IEC No.:

3104008701

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

PNEB01756G

 

 

PAN No.:

[Permanent Account No.]

AABCB2192A

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer of pipe fitting and flanges, metal forming and sheet metal components, oil pan and bracket assemblies.

 

 

No. of Employees :

50 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (42)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

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

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company incorporated during the year 1998. It has a satisfactory track record.

 

Management has reported healthy operational activity backed by decent sales turnover along with profitability margin of 1.5% in the FY-14.

 

The company has taken hefty borrowings however possesses good financial risk profile marked by its fine networth position.

 

Trade relations are reported as fair. Business is active. Payment terms are reported as slow but correct.

 

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.

 

 

 

EXTERNAL AGENCY RATING

 

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. Sachin Bhor

Designation :

Director

Contact No.:

91-9011200000

Date :

28.07.2015

 

 

LOCATIONS

 

Registered Office :

S. No.81, Shivane, NDA Road, Pune – 411023, Maharashtra, India

Tel. No.:

91-20-25292179 / 25290588

Mobile No.:

91-9011200000 (Mr. Sachin Prabhakar Bhor)

Fax No.:

91-20-25290588

E-Mail :

bhorengineering@gmail.com

accounts.bhor@yahoo.in

Website :

http://www.bhorengineering.com

Area :

10000 sq. ft.

Location :

Owned

 

 

Factory :

Plot No. 26, SIPCOT Industries Complex  Phase-II, Taluka-Hosur, District Krishnagari – 635126, Tamilnadu, India 

Tel. No.:

91-43-44324659

Area :

60000 sq. ft.

Location :

Owned

 

 

DIRECTORS

 

AS ON 30.09.2014

 

Name :

Mr. Sachin Prabhakar Bhor

Designation :

Director

Address :

46, Girish Society, Warje, Pune – 411029, Maharashtra, India

Date of Birth/Age :

03.05.1978

Qualification :

B. E.

Date of Appointment :

29.06.1998

DIN No.:

00139086

 

 

Name :

Mrs. Pramila Prabhakar Bhor

Designation :

Director

Address :

46, Girish Society, Warje, Pune – 411029, Maharashtra, India

Date of Birth/Age :

17.11.1950

Qualification :

Qualification

Date of Appointment :

29.06.1998

DIN No.:

00139167

 

 

Name :

Mr. Sanjay Prabhakar Bhor

Designation :

Director

Address :

46, Girish Society, Warje, Pune – 411029, Maharashtra, India

Date of Birth/Age :

10.08.1970

Qualification :

B. Tech

Date of Appointment :

29.06.1998

DIN No.:

00972759

 

 

MAJOR SHAREHOLDERS

 

AS ON 30.09.2014

 

Names of Shareholders

 

No. of Shares

% of Holding

Sanjay Prbhakar Bhor

96945

41.96

Pramila Prabhakar Bhor

32334

14.00

Sachin Prabhakar Bhor

75291

32.59

Tulsi Sachin Bhor

13107

5.67

Sunita Sanjay Bhor

13339

5.77

 

 

 

Total

231016

100.00

 

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 30.09.2014

 

Category

 

Percentage

Directors or relatives of Directors

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of pipe fitting and flanges, metal forming and sheet metal components, oil pan and bracket assemblies.

 

 

Products :

·         Pipe Fitting and Flanges

·         Metal Forming and Sheet Metal Components

·         Oil Pan and Bracket Assemblies

 

 

Brand Names :

Not Divulged

 

 

Agencies Held :

Not Divulged

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

 

Selling :

Cash, Credit (30 / 60 / 90 Days)

 

 

Purchasing :

Cash, Credit (30 / 60 / 90 Days)

 

 

PRODUCTION STATUS – NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Company Name :

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 :

Company Name :

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 :

50 (Approximately)

 

 

Bankers :

Banker Name :

The Cosmos Co-Operative Bank Limited

Branch :

Shaniwar Peth, Pune-411030, Maharashtra, 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 :

Not Divulged

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

Not Divulged

Account Operation :

Not Divulged

Remark :

Not Divulged

 

·         Sharad Sahakari Bank

·         CITI Bank

·         HDFC Bank Limited

·         IDBI Bank

·         ICICI Bank Limited

 

 

 

Facilities :

SECURED LOANS

31.03.2014

Rs. In Million

31.03.2013

Rs. In Million

Long Term Borrowings

 

 

Cosmos Co-Op. Bank Limited (03280110833)

1.583

1.838

Cosmos Co-Op. Bank Limited ( 3275180374)

0.865

4.775

Cosmos Co-Op. Bank Limited (75140842)

0.772

1.130

Cosmos Co-Op. Bank Limited (03275100310)

1.398

4.541

Cosmos Co-Op. Bank Limited (3275140639)

0.000

0.239

Cosmos Co-Op. Bank Limited (3275140790)

1.305

1.677

Cosmos Co-Op. Bank Limited (3275140763)

0.477

0.666

Cosmos Co-Op. Bank Limited (327519037)

0.157

0.322

Sharada Sahakari Bank (Manchar)

0.944

0.497

Religare Finevest Limited

20.806

22.006

Religare Finevest Limited SME (44457)

0.000

1.425

Capital First Limited

45.068

44.900

 

 

 

Short Term Borrowings

 

 

Loans from banks

 

 

Loan against Recurring Deposit A/c 0471

0.000

2.337

The Cosmos Co-Op. Bank Limited CC (03260010277)

27.311

27.394

Loan against Recurring Deposit A/c 1670

0.000

0.653

 

 

 

Total

100.686

114.400

 

 

Auditors :

 

Name :

Deekay and Company

Chartered Accountants

Address :

5, Parshuram Apartments, 1616, Sadashiv Peth, Pune – 411030, Maharashtra, India

PAN.:

AABFD9996M

 

 

Memberships :

Not Divulged

 

 

Collaborators :

Not Divulged

 

 

Associates/Subsidiaries :

--

 

 

CAPITAL STRUCTURE

 

AS ON 30.09.2014

 

Authorised Capital:

No. of Shares

Type

Value

Amount

 

 

 

 

250000

Equity Shares

Rs.100/- each

Rs.25.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital:

No. of Shares

Type

Value

Amount

 

 

 

 

231016

Equity Shares

Rs.100/- each

Rs.23.102 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

23.102

23.102

23.102

(b) Reserves & Surplus

32.022

27.999

24.038

(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)

55.124

51.101

47.140

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

74.949

85.590

40.503

(b) Deferred tax liabilities (Net)

1.406

1.713

1.882

(c) Other long term liabilities

12.846

12.846

12.846

(d) long-term provisions

0.000

0.000

0.000

Total Non-current Liabilities (3)

89.201

100.149

55.231

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

49.508

53.488

37.123

(b) Trade payables

66.277

54.436

47.713

(c) Other current liabilities

63.839

61.966

68.545

(d) Short-term provisions

4.384

4.803

3.788

Total Current Liabilities (4)

184.008

174.693

157.169

 

 

 

 

TOTAL

328.333

325.943

259.540

 

 

 

 

II.      ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

104.410

102.391

109.585

(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

26.775

26.775

18.615

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

15.122

6.040

1.734

(e) Other Non-current assets

0.021

0.042

0.064

Total Non-Current Assets

146.328

135.248

129.998

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

79.851

74.749

65.339

(c) Trade receivables

54.735

53.973

43.122

(d) Cash and cash equivalents

2.889

9.209

5.166

(e) Short-term loans and advances

44.509

52.743

15.894

(f) Other current assets

0.021

0.021

0.021

Total Current Assets

182.005

190.695

129.542

 

 

 

 

TOTAL

328.333

325.943

259.540

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

Income

214.528

225.693

191.924

 

 

Other Income

2.024

2.192

2.756

 

 

TOTAL                                             

216.552

227.885

194.680

 

 

 

 

 

Less

EXPENSES

198.983

209.416

178.785

 

 

 

 

 

 

PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

17.569

18.469

15.895

 

 

 

 

 

Less

DEPRECIATION/ AMORTISATION                    

12.089

12.457

9.061

 

 

 

 

 

 

PROFIT/(LOSS) BEFORE TAX

5.480

6.012

6.834

 

 

 

 

 

Less

TAX                                                                 

1.458

2.051

2.233

 

 

 

 

 

 

PROFIT/(LOSS) AFTER TAX

4.022

3.961

4.601

 

 

 

 

 

 

Earnings Per Share (Rs.)

 

 

 

 

 

Particulars

 

 

 

31.03.2015

Sales Turnover (Approximately)

 

 

270.000

 

The above information has been parted by Mr. Sachin

 

 

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

16.342

19.736

23.790

Cash generated from operations

NA

NA

NA

Net cash flow from (used in) operations

NA

NA

NA

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

PAT / Sales

(%)

1.87

1.76

2.40

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets)

(%)

1.82

2.01

2.84

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.10

0.12

0.14

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

2.55

3.11

2.15

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

0.99

1.09

0.82

 

 

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

23.102

23.102

23.102

Reserves & Surplus

24.038

27.999

32.022

Net worth

47.140

51.101

55.124

 

 

 

 

long-term borrowings

40.503

85.590

74.949

Short term borrowings

37.123

53.488

49.508

Current Maturities of Long term debt

23.790

19.736

16.342

Total borrowings

101.416

158.814

140.799

Debt/Equity ratio

2.151

3.108

2.554

 

 

 

 

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

191.924

225.693

214.528

 

 

17.595

(4.947)

 

 

 

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

191.924

225.693

214.528

Profit

4.601

3.961

4.022

 

2.40%

1.76%

1.87%

 

 

 

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

Yes

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

No

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 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 LOANS:

 

Particulars

31.03.2014

Rs. In Million

31.03.2013

Rs. In Million

Long Term Borrowings

 

 

Other loans and advances

 

 

Sidharth Developers

1.574

1.574

 

 

 

Short Term Borrowings

 

 

Interest free loans from related parties repayable on demand

 

 

Pramila P. Bhor

4.028

4.063

Sachin P. Bhor

10.700

12.907

Sanjay P. Bhor

5.886

4.551

Shubham Industries

1.583

1.583

 

 

 

Total

23.771

24.678

 

 

INDEX OF CHARGE:

 

Sr. No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10504313

05/06/2014 *

13,400,000.00

THE COSMOS CO-OPERATIVE BANK LIMITED (WARJE BRANCH)

HEAD OFFICE 269/270, SHANIWAR PETH, PUNE, MAHARASHTRA - 411030, INDIA

C09421520

2

10427138

25/03/2013

10,000,000.00

THE COSMOS CO-OPERATIVE BANK LIMITED (WARJE BRANCH)

269/270, SHANIWAR PETH, PUNE, MAHARASHTRA - 411030, INDIA

B75624478

3

10387888

09/11/2012

5,000,000.00

THE COSMOS CO-OPERATIVE BANK LIMITED (WARJE BRANCH)

269/270, SHANIWAR PETH, PUNE, MAHARASHTRA - 411030, INDIA

B62525514

4

10315469

21/10/2011

4,000,000.00

THE COSMOS CO-OPERATIVE BANK LIMITED (WARJE BRANCH)

269/270,, SHANIWAR PETH,, PUNE, MAHARASHTRA - 411030, INDIA

B24455586

5

10286155

15/04/2011

5,000,000.00

THE COSMOS CO-OPERATIVE BANK LIMITED (WARJE BRANCH)

269/270,, SHANIWAR PETH,, PUNE, MAHARASHTRA - 411030, INDIA

B12663399

6

10272955

11/02/2011

3,500,000.00

THE COSMOS CO-OPERATIVE BANK LIMITED (WARJE BRANCH)

269/ 270,, SHANIWAR PETH,, PUNE, MAHARASHTRA - 411030, INDIA

B08345449

7

10251967

02/11/2010

4,000,000.00

THE COSMOS CO-OPERATIVE BANK LIMITED (WARJE BRANCH)

269/270,, SHANIWAR PETH, PUNE, MAHARASHTRA - 411030, INDIA

A99713661

8

10242714

22/09/2010

865,000.00

THE COSMOS CO-OPERATIVE BANK LIMITED (WARJE BRANCH)

269/270,, SHANIWAR PETH, PUNE, MAHARASHTRA - 411030, INDIA

A96061452

9

10204692

10/02/2010

14,000,000.00

THE COSMOS CO-OPERATIVE BANK LIMITED (WARJE BRANCH)

269/270, SHANIWAR PETH, PUNE, MAHARASHTRA - 411030, INDIA

A80292873

10

10204691

10/02/2010

15,000,000.00

THE COSMOS CO-OPERATIVE BANK LTD. (WARJE BRANCH)

269/270, SHANIWAR PETH, PUNE, MAHARASHTRA - 411030, INDIA

A80292568

11

10132209

31/01/2011 *

25,000,000.00

THE COSMOS CO-OPERATIVE BANK LIMITED (WARJE BRANCH)

269/ 270,, SHANIWAR PETH,, PUNE, MAHARASHTRA - 411030, INDIA

B08346975

12

10132210

14/11/2008

17,812,000.00

THE COSMOS CO-OP BANK LTD (WARJE BRANCH)

269/270, SHANIWAR PETH, PUNE, MAHARASHTRA - 411030, INDIA

A51729390

13

10111057

19/09/2009 *

25,000,000.00

THE COSMOS CO-OPERATIVE BANK LIMITED (WARJE BRANCH)

269/270.SHANIWAR PETH, PUNE, MAHARASHTRA - 411030, INDIA

A70862008

14

10010932

16/06/2006

360,000.00

SUNDARAM FINANCE LIMITED

21 PATULLOS ROAD, CHENNAI, TAMIL NADU - 600002,
INDIA

A02494664

 

*Date of modification Charges

 

 

FIXED ASSETS:

 

·         Land

·         Building

·         Plant and Machinery

·         Furniture and Fixtures

·         Toyota Innova

·         Nano Car

·         Tata Ace Tempo

·         Fortuner Car

·         Motor Cycle

·         Mercedes Benz

·         Ford Fiesta

·         Computer and Software

·         Electrical Installation

·         Office Equipment

·         Dies and Tools

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.63.89

UK Pound

1

Rs.99.71

Euro

1

Rs.70.63

 

 

INFORMATION DETAILS

 

Information Gathered by :

PPT

 

 

Analysis Done by :

TRI

 

 

Report Prepared by :

NKT

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILITY

1~10

5

--LIQUIDITY

1~10

4

--LEVERAGE

1~10

4

--RESERVES

1~10

5

--CREDIT LINES

1~10

4

--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

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

 

 

 

TOTAL

 

42

 

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.