MIRA INFORM REPORT

 

 

Report No. :

325774

Report Date :

05.06.2015

 

IDENTIFICATION DETAILS

 

Name :

ADROIT PHARMACHEM PRIVATE LIMITED

 

 

Registered Office :

Plot/Block No.549/550, Opposite Vinay Petroleum, At and Post Manjusar, Taluka-Savli, Vadodara – 391 775, Gujarat

Tel. No.:

91-2667-264003

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

11.01.2013

 

 

Com. Reg. No.:

04-073351

 

 

Capital Investment / Paid-up Capital :

Rs.5.000 Million

 

 

CIN No.:

[Company Identification No.]

U24100GJ2013PTC073351

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AALCA2592F

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Subject engaged in the business of manufacturing, marketing, trading, importing and exporting of organic chemicals, APIs perfumery products, Specialty Organic chemicals and fine chemicals and Supplementary products used in the manufacturing of pharmaceuticals and related industries.

 

 

No. of Employees :

80  (Approximately)

 

 

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 25000

 

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having moderate track record.

 

As claimed by Mr. Roshan (Senior Executive and Administrative), Subject was established in 1998 as a partnership firm named "Krishna Chemical Industries" and later it got converted into private limited company on 31.01.2014 named "Adroit Pharmachem Private Limited."

 

Subject is engaged in the business of manufacturing of chemicals having application in pharmaceutical industry.

 

During FY 2014, company earned total income of Rs. 143.236 Million and net profit of Rs. 10.800 Million as compared to total income of Rs. 30.658 Million and net loss of Rs. 7.118 Million in the previous year.

 

Rating also takes into consideration, weak net worth and huge external borrowing taken by the company, which may acts as threatening to liquidity position of the company.

 

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

 

In the view of extensive experience of promoters, the company 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

Not Available

Rating

Not Available

Rating Explanation

Not Available

Date

Not Available

 

 

RBI DEFAULTERS’ LIST STATUS

 

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

 

 

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

 

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

 

 

INFORMATION PARTED BY

 

Name :

Mr. Roshan Ray

Designation :

Senior Accounts Executives and Administrative

Contact No.:

91-2667-264003

Date :

05.06.2015

 

 

LOCATIONS

 

Registered Office / Factory:

Plot/Block No.549/550, Opposite Vinay Petroleum, At and Post Manjusar, Taluka-Savli, Vadodara – 391 775, Gujarat, India

Tel. No.:

91-2667-264666/ 264003

Fax No.:

91-2667-264666

E-Mail :

info@adroitpharmachem.com

Website :

www.adroitpharmachem.com

 

 

DIRECTORS

 

AS ON 18.09.2014

 

Name :

Mr. Rajulkumar Shamjibhai Makadia

Designation :

Managing Director

Address :

901, Shital Flats, Diwalipura, Vadodara – 390 007, Gujarat, India

Date of Birth/Age :

12.08.1967

Date of Appointment :

01.02.2013

DIN No.:

06399498

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

U24100GJ2013PTC073351

Adroit Pharmachem Private Limited

Managing director

01-02-13

11-01-13

-

Active

NO

 

 

Name :

Mr. Alpeshkumar Ratilal Sinojia

Designation :

Managing Director

Address :

A-27, Rajlaxmi Park Society, Near Abhilasha Char Rasta, New Sama Road, Vadodara – 390 024, Gujarat, India

Date of Birth/Age :

08.11.1971

Date of Appointment :

01.02.2013

DIN No.:

06399502

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

U24100GJ2013PTC073351

Adroit Pharmachem Private Limited

Managing director

01-02-13

11-01-13

-

Active

NO

 

Name :

Mr. Nilesh Shamjibhai Makadia

Designation :

Director

Address :

71-A, Suraj Apartment-2, Shroff Road, Rajkot, 360001, Gujarat, India

Date of Appointment :

21.03.2015

DIN No.:

00462419

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

U27310GJ2004PTC044993

JAGDISH PRECISIONS CAST PRIVATE LIMITED

Director

05-11-04

05-11-04

-

Active

NO

2

U45200GJ2014PTC081512

STHAPANA RESIDENCY PRIVATE LIMITED

Director

11-12-14

11-12-14

-

Active

NO

3

U24100GJ2013PTC073351

Adroit Pharmachem Private Limited

Director

21-03-15

21-03-15

-

Active

NO

 

 

Name :

Mr. Muralidhar Nemichand Ingale

Designation :

Director

Address :

09-B-1-Hermes Heritage Phase-Ii, Shastri Nagar, Pune, 411006, Maharashtra, India

10.06.1966

08.11.1971

Date of Appointment :

18.09.2014

DIN No.:

02170292

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

U24231GJ1996PTC030262

ASHMI LIFE SCIENCE PRIVATE LIMITED

Director

10-10-08

10-10-08

-

Active

NO

2

U24100GJ2013PTC073351

Adroit Pharmachem Private Limited

Director

18-09-14

18-08-14

-

Active

NO

 

 

KEY EXECUTIVES

 

Name :

Mr. Roshan Ray

Designation :

Senior Accounts Executives and Administrative

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 18.09.2014

 

Names of Shareholders

No. of Shares

%age holding

Nileshkumar Makadia

125000

25.00

Rajulkumar Shamjibhai Makadia

125000

25.00

Vinodrai Vachhani

50000

10.00

Alpeshkumar Ratilal Sinojia

50000

10.00

Champagauri Vachhani

50000

10.00

Sonalben Javia

15000

3.00

Chetankuamr Ratilal Sinojia

50000

10.00

Pravinkumar Hirjibhai Javia

10000

2.00

Savankuamr Javia

10000

2.00

Preet Javia

15000

3.00

Total

500000

100.00

 

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 18.09.2014

 

Category

Percentage

Directors or relatives of Directors

80.00

Other

20.00

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Subject engaged in the business of manufacturing, marketing, trading, importing and exporting of organic chemicals, APIs perfumery products, Specialty Organic chemicals and fine chemicals and Supplementary products used in the manufacturing of pharmaceuticals and related industries.

 

 

Products :

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

 

Selling :

Cash and Credit

 

 

Purchasing :

Cash and Credit

 

PRODUCTION STATUS: NOT AVAILABLE

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Abhishek Chemicals

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 :
  • PAB Organics Private Limited.
  • Ami Life Science Private Limited

 

Reference :

Grind Lays Pharmaceuticals Private Limited

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

80  (Approximately)

 

 

Bankers :

Banker Name

State Bank of India

Branch Address

Manjusar Branch, Taluka: Savli, Vadodara – 391 775, Gujarat, India

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

Facilities :

(Rs. In Million)

SECURED LOAN

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWINGS

 

 

Long Term Loans - From Banks

 

 

Rupee Term Loan

Secured against Hypothecation of Car

(Terms: Repayable in 60 monthly installments)

Rate of Interest: 10.45%

0.893

0.719

SHORT TERM BORROWING

 

 

Short Term Loans - From Banks

Cash Credit Finance

Secured against Hypothecation of Plant and Machinery and Building

(Terms: Rate of Interest: 13%)

Repayable on Demand

4.318

8.922

Total

5.211

9.641

 

Auditors :

 

Name :

Shah and Bhandari

Chartered Accountants

Address :

38/101, Gautam Nagar, Race Course, Vadodara – 390 007, Gujarat, India

Fax No.:

91-265-2369398/2339727

E-Mail :

shahbhandari@gmail.com

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

AANFS8293E

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Associates/Subsidiaries :

--

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

500000

Equity Shares

Rs.10/- each

Rs.5.000 million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

500000

Equity Shares

Rs.10/- each

Rs.5.000 million

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2014

31.03.2013

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

 

5.000

5.000

(b) Reserves & Surplus

 

3.682

(7.118)

(c) Money received against share warrants

 

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

 

0.000

0.000

Total Shareholders’ Funds (1) + (2)

 

8.682

(2.118)

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

 

95.893

101.596

(b) Deferred tax liabilities (Net)

 

9.175

6.656

(c) Other long term liabilities

 

0.000

0.000

(d) long-term provisions

 

0.000

0.000

Total Non-current Liabilities (3)

 

105.068

108.252

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

 

4.318

8.922

(b) Trade payables

 

17.079

22.690

(c) Other current liabilities

 

1.583

0.359

(d) Short-term provisions

 

1.835

1.188

Total Current Liabilities (4)

 

24.815

33.159

 

 

 

 

TOTAL

 

138.565

139.293

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

 

79.209

75.869

(ii) Intangible Assets

 

0.000

0.000

(iii) Capital work-in-progress

 

0.000

0.000

(iv) Intangible assets under development

 

0.000

0.000

(b) Non-current Investments

 

0.000

0.000

(c) Deferred tax assets (net)

 

0.000

0.000

(d)  Long-term Loan and Advances

 

0.594

3.394

(e) Other Non-current assets

 

0.000

0.000

Total Non-Current Assets

 

79.803

79.263

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

 

0.000

0.000

(b) Inventories

 

13.954

13.995

(c) Trade receivables

 

42.037

42.684

(d) Cash and cash equivalents

 

2.055

2.061

(e) Short-term loans and advances

 

0.716

1.290

(f) Other current assets

 

0.000

0.000

Total Current Assets

 

58.762

60.030

 

 

 

 

TOTAL

 

138.565

139.293

 

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2014

31.03.2013

 

SALES

 

 

 

 

Income

 

143.127

30.525

 

Other Income

 

0.109

0.133

 

TOTAL (A)

 

143.236

30.658

 

 

 

 

 

Less

EXPENSES

 

 

 

 

TOTAL (B)

 

111.347

27.545

 

 

 

 

 

Less

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)

 

31.889

3.113

 

 

 

 

 

Less

INTEREST  (D)

 

11.819

2.841

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)

 

20.070

0.272

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION (F)

 

3.496

0.734

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX (E-F)   (G)

 

16.574

(0.462)

 

 

 

 

 

Less

TAX (H)

 

5.774

6.656

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX  (G-H)   (I)

 

10.800

(7.118)

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

 

21.60

(14.24)

 

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

 

31.03.2014

31.03.2013

Current Maturities of Long term debt

 

NA

NA

Cash generated from operations

 

NA

NA

 

 

KEY RATIOS

 

PARTICULARS

 

 

 

31.03.2014

31.03.2013

Net Profit Margin

(PAT / Sales)

(%)
 

7.55

(23.32)

 

 
 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)
 

22.28

10.20

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)
 

11.96

(0.33)

 

 
 

 

 

Return on Investment (ROI)

(PBT/Networth)

 
 

1.91

0.22

 

 
 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 
 

11.54

(52.18)

 

 
 

 

 

Current Ratio

(Current Asset/Current Liability)

 
 

2.37

1.81

 

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

Share Capital

5.000

5.000

Reserves & Surplus

(7.118)

3.682

Money received against share warrants

0.000

0.000

 Share Application money pending allotment

0.000

0.000

Net worth

(2.118)

8.682

 

 

 

long-term borrowings

101.596

95.893

Short term borrowings

8.922

4.318

Total borrowings

110.518

100.211

Debt/Equity ratio

(52.180)

11.542

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

Sales

30.525

143.127

 

368.885

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

Sales

30.525

143.127

Profit

(7.118)

10.800

 

(23.32%)

7.55%

 

 

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

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

Yes

26

Turnover of firm for last two years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

No

29

Profitability for last two 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

 

REVIEW OF OPERATIONS:

 

The company is engaged in the business of manufacturing of chemicals having application in pharmaceutical industry. During the period, the company earned total income of Rs. 143.236 Million and net profit 10.800 Million as compared to total income of Rs. 30.658 Million and net loss of Rs. 7.118 Million in the previous years, respectively.

 

CORPORATE INFORMATION

 

Subject is a private limited company engaged in the business of manufacturing, marketing, trading, importing and exporting of organic chemicals, APIs perfumery products, Specialty Organic chemicals and fine chemicals and Supplementary products used in the manufacturing of pharmaceuticals and related industries.

 

UNSECURED LOAN

 

Particulars

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

LONG TERM BORROWING

 

 

From Directors and Shareholders

36.070

52.154

From Others

(Term: Repayment is not stipulated, repayable after 12 months) Rate of Interest – 12%

58.931

48.723

Total

95.001

100.877

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10465995

22/05/2013

14,000,000.00

STATE BANK OF INDIA

MANJUSAR BRANCH, TALUKA: SAVLI, VADODARA, GUJARAT
- 391775, INDIA

B84398296

2

10401811

08/02/2013

14,000,000.00

STATE BANK OF INDIA

MANJUSAR BRANCH, TALUKA: SAVLI, VADODARA, GUJARAT
- 391775, INDIA

B67585497

 

 

FIXED ASSETS:

 

·         Land

·         Building

·         R&D Equipment

·         Plant and Equipment

·         Furniture and Fixtures

·         Computer

·         Office Equipments

·         Vehicles

 

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.64.18

UK Pound

1

Rs.98.30

Euro

1

Rs.72.25

 

 

INFORMATION DETAILS

 

Information Gathered by :

KAM

 

 

Analysis Done by :

SAN

 

 

Report Prepared by :

KVT

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

4

PAID-UP CAPITAL

1~10

3

OPERATING SCALE

1~10

3

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

3

--PROFITABILITY

1~10

3

--LIQUIDITY

1~10

2

--LEVERAGE

1~10

4

--RESERVES

1~10

3

--CREDIT LINES

1~10

3

--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 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.