MIRA
INFORM REPORT
|
Report No. : |
333401 |
|
Report Date : |
30.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
MYTEX POLYMERS INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No.SP-2-44, New Industrial Complex (Majrakath), Neemrana, Alwar-301705, Rajasthan |
|
Tel. No.: |
91-124-4738738 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
18.03.2008 |
|
|
|
|
Com. Reg. No.: |
17-026162 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 515.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25209RJ2008FTC026162 |
|
|
|
|
IEC No.: |
1308006578 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAFCM4533L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing of compounded moulded plastics
with their related finished works and assembling, developing, attempting,
quality controlling, buying, importing, marketing, selling and exporting,
trade any otherwise dealing in all types of polymer compounds and polymer
products (e.g. polylpropyene for automotive use and
others). |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 140000 |
|
|
|
|
Status : |
Moderate |
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|
|
|
Payment Behavior : |
Slow but correct |
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|
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Litigation : |
Clear |
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|
|
Comments : |
Subject is a subsidiary of “Mitsubishi Chemical Corporation” Japan. It
is established company incorporated on 18th March 2008 and it is
having moderate track record. As management failed to file the financials documents for the year
ended 31.03.2014 to statutory authorities. And the documents are not been
available from any sources. From the financial of 2013, the company has reported increased in its
sales turnover and company have reported accumulated losses over past two
years marked by its negative reserves. Further, rating take into consideration established track record of
its business and strong financial as well as managerial support company
received from its holding company. However, trade relations are fair. Business is active and payments are
reported to be slow but correct. In view of strong support from its holding company, the company can be
considered for normal business dealing with some cautions. |
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.
Management non co-operative (91-124-4738700/ 4738738)
LOCATIONS
|
Registered Office : |
Plot No.SP-2-44, New Industrial Complex (Majrakath), Neemrana, Alwar-301705, Rajasthan, India |
|
Tel. No.: |
91-124-4738738 |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
AS ON 25.06.2014
|
Name : |
Kenji Yokoo |
|
Designation : |
Director |
|
Address : |
464-0824, 2-20, Inafune- Mansion B2, Inafune-Dori, Chikusa-Ku, Nagoya, Aichi, 000000, Japan |
|
Date of Birth/Age : |
03.05.1963 |
|
Date of Appointment : |
03.04.2013 |
|
DIN No.: |
06540904 |
|
|
|
|
Name : |
Tsuguya Nagaki |
|
Designation : |
Managing director |
|
Address : |
Emilia, A1/71,Vatika City, Sector-49, Gurgaon, 122001, Haryana, India |
|
Date of Birth/Age : |
08.01.1961 |
|
Date of Appointment : |
08.02.2013 |
|
PAN No.: |
APZPN0265Q |
|
DIN No.: |
06490110 |
|
|
|
|
Name : |
Yosuke Iida |
|
Designation : |
Additional Director |
|
Address : |
Kagurazaka Eins Tower No.2009, 5-20-5, Kagurazaka, Shinjuku-Ku, Tokyo-999999, Japan |
|
Date of Birth/Age : |
25.08.1964 |
|
Date of Appointment : |
03.12.2010 |
|
DIN No.: |
03353774 |
|
|
|
|
Name : |
Teruyuki Kuronuma |
|
Designation : |
Director |
|
Address : |
2-B-14-1027, Shiomi, Koto-Ku, Tokyo – 1350052, Japan |
|
Date of Birth/Age : |
02.01.1967 |
|
Date of Appointment : |
19.15.2014 |
|
DIN No.: |
06869639 |
|
|
|
|
Name : |
Takahiro Tsutsumi |
|
Designation : |
Additional director |
|
Address : |
A-302 Gurandolurutakayanagi,15-1652 Takayanagi,, Kashiwa- shi, Chiba, 2770941, Japan |
|
Date of Appointment : |
15.09.2014 |
|
DIN No.: |
06970304 |
KEY EXECUTIVES
|
Name : |
Mr. Soumen Mitra |
|
Designation : |
Secretary |
|
Address : |
H. No.1584, HSBC, Sector-10 A, Gurgaon-122001, Haryana,
India |
|
Date of Birth/Age : |
21.04.1969 |
|
Date of Appointment : |
18.08.2008 |
|
PAN No.: |
AHLPM4540P |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 25.06.2014
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Mitsubishi Chemical Corporation, Japan |
3400 |
0.01 |
|
Japan Polychem Corporation, Japan |
51496600 |
99.99 |
|
Total |
51500000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
AS ON 25.06.2014
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companies(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of compounded moulded plastics
with their related finished works and assembling, developing, attempting,
quality controlling, buying, importing, marketing, selling and exporting,
trade any otherwise dealing in all types of polymer compounds and polymer
products (e.g. polylpropyene for automotive use and
others). |
|
|
|
|
Products : |
Not Available |
|
|
|
|
Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
Not Available |
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Auditors : |
|
|
Name : |
Snr and Company Chartered Accountants |
|
Address : |
A-15 Second Floor, Hauz Khas, Delhi, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAKFS9831P |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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|
Holding Company : [As On : 31.03.2013] |
·
Japan Polychem
Corporation, Japan |
|
|
|
|
Ultimate Holding Company : [As On : 31.03.2013] |
·
Mitsubishi Chemical Corporation, Japan |
|
|
|
|
Fellow Subsidiaries : [As On : 31.03.2013] |
·
Mitsubishi Chemical India Private Limited [CIN No.:- U74120HR2008FTC037687[ · Mitsubishi Chemical(Thailand) Company Limited, Thailand ·
Mytex Polymers
(Thailand) Company Limited, Thailand ·
Rhombic Corporation, Japan ·
Japan Polypropylene Corporation, Japan ·
Ryoka Systems Inc., Tokyo ·
Mitsubishi Chemical (Thailand) Company Limited ·
Mitsubishi Chemical Engineering Corporation |
CAPITAL STRUCTURE
AFTER : 25.06.2014
Authorised Capital : Rs. 935.000 Million
Issued, Subscribed & Paid-up Capital : Rs. 935.000 Million
AS ON 25.06.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
93500000 |
Equity Shares |
Rs.10/- each |
Rs. 935.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
51500000 |
Equity Shares |
Rs.10/- each |
Rs. 515.000 Million |
|
|
|
|
|
ABRIDGED
BALANCE SHEET
FINANCIAL DATA
[all figures are
in Rupees Million]
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
515.000 |
515.000 |
340.000 |
|
(b) Reserves & Surplus |
(463.020) |
(399.468) |
(339.120) |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
130.000 |
|
Total
Shareholders’ Funds (1) + (2) |
51.980 |
115.532 |
130.880 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
31.365 |
138.625 |
240.760 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
1.069 |
0.744 |
0.901 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
32.434 |
139.369 |
241.661 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
191.356 |
135.779 |
197.329 |
|
(b) Trade payables |
516.981 |
343.236 |
62.662 |
|
(c) Other current
liabilities |
189.629 |
173.297 |
151.049 |
|
(d) Short-term provisions |
0.083 |
0.107 |
0.043 |
|
Total Current Liabilities (4) |
898.049 |
652.419 |
411.083 |
|
|
|
|
|
|
TOTAL |
982.463 |
907.320 |
783.624 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
421.867 |
465.301 |
497.920 |
|
(ii) Intangible Assets |
0.662 |
0.408 |
0.833 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
6.500 |
|
(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 |
4.022 |
1.938 |
1.802 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
426.551 |
467.647 |
507.055 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
312.099 |
268.875 |
179.249 |
|
(c) Trade receivables |
83.544 |
64.209 |
15.161 |
|
(d) Cash and cash
equivalents |
40.003 |
9.435 |
13.277 |
|
(e) Short-term loans and
advances |
120.266 |
97.154 |
68.882 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
555.912 |
439.673 |
276.569 |
|
|
|
|
|
|
TOTAL |
982.463 |
907.320 |
783.624 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
|
|
|
TOTAL INCOME |
1143.916 |
902.326 |
356.801 |
|
|
|
|
|
|
|
|
|
Less |
TOTAL EXPENSES |
1161.956 |
916.222 |
519.101 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
(18.040) |
(13.896) |
(162.300) |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
45.512 |
46.452 |
35.481 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
(63.552) |
(60.348) |
(197.781) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
(63.552) |
(60.348) |
(197.781) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
33.267 |
4.609 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
708.636 |
586.711 |
NA |
|
|
TOTAL IMPORTS |
708.636 |
586.711 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(1.23) |
(1.17) |
(3.84) |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Current Maturities of Long term debt |
124.860 |
110.620 |
106.960 |
|
Cash generated from operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(5.56) |
(6.69) |
(55.43) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(1.58) |
(1.54) |
(45.49) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(6.47) |
(6.65) |
(25.45) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(1.22) |
(0.52) |
(1.51) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
6.69 |
3.33 |
4.16 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.62 |
0.67 |
0.67 |
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 |
340.000 |
515.000 |
515.000 |
|
Reserves & Surplus |
(339.120) |
(399.468) |
(463.020) |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
130.000 |
0.000 |
0.000 |
|
Net worth |
130.880 |
115.532 |
51.980 |
|
|
|
|
|
|
long-term borrowings |
240.760 |
138.625 |
31.365 |
|
Short term borrowings |
197.329 |
135.779 |
191.356 |
|
CURRENT MATURITIES OF
LONG-TERM DEBTS |
106.960 |
110.620 |
124.860 |
|
Total borrowings |
545.049 |
385.024 |
347.581 |
|
Debt/Equity ratio |
4.164 |
3.333 |
6.687 |
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) |
|
Sales |
356.801 |
902.326 |
1143.916 |
|
|
|
152.893 |
26.774 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
356.801 |
902.326 |
1143.916 |
|
Profit |
(197.781) |
(60.348) |
(63.552) |
|
|
(55.43)% |
(6.69)% |
(5.56)% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE: Registered office has been shifted from O-5, 3rd Floor, Amber
Tower, Sansar Chandra Road, Jaipur,
Rajasthan, India to the present address w.e.f.
28.02.2009
FUTURE PROSPECTS [As On :
31.03.2013]
The Company is all set to improve its performance by improving the capacity utilization, increasing sales, generating better margins and employing cost reducing measures. This would help the Company in getting better operational efficiency and value added products.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2013 (Rs. in Million) |
31.03.2012 (Rs. in Million) |
|
Long-term
Borrowings |
|
|
|
Term loans from others |
31.365 |
138.625 |
|
|
|
|
|
Short-term
borrowings |
|
|
|
Term loans from banks |
191.356 |
135.779 |
|
|
|
|
|
Total |
222.721 |
274.404 |
INDEX OF CHARGES: NO
CHARGES EXIST FOR THE COMPANY
FIXED ASSETS
·
Leasehold Land
·
Building
·
Computer
·
Office Equipments
·
Plant and Machinery
·
Furniture and Fixtures
·
Vehicles
·
Software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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 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.64.00 |
|
|
1 |
Rs.99.83 |
|
Euro |
1 |
Rs.70.07 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUP |
|
|
|
|
Analysis Done by
: |
KSP |
|
|
|
|
Report Prepared
by : |
DDD |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
-- |
|
--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 |
|
28 |
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 unfavorable
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 |
||
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.