MIRA INFORM REPORT
|
Report No. : |
324819 |
|
Report Date : |
08.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
GARG PROCESS GLASS INDIA PRIVATE LIMITED (w.e.f. 02.04.2008) |
|
|
|
|
Formerly Known
As : |
GARG BORO GLASS INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
2-222, New Sonal Industrial Estate, Link Road, Malad (West), Mumbai – 400
064, Maharashtra |
|
Tel. No.: |
91-22-28830309 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
03.04.2006 |
|
|
|
|
Com. Reg. No.: |
11-160939 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.100
million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U26101MH2006PTC160939 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMG11654G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCG5692H |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing and Exporting
of scientific and laboratory glassware and research apparatus. |
|
|
|
|
No. of Employees
: |
120 (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 1400 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a small company in its field having moderate track record.
Its scale of activities are limited. The company possesses a weak financial profile marked by low networth
base. However, trade relation seems to be fair. Business is active. Payment
terms are reported as slow. The subject can be considered for business dealings with some caution.
|
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
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. Deepak Garg |
|
Designation : |
Director |
|
Contact No.: |
91-22-28830309 |
|
Date : |
30.05.2015 |
LOCATIONS
|
Registered Office/ Corporate Office : |
2-222, New Sonal Industrial Estate, Link Road, Malad (West), Mumbai – 400
064, Maharashtra, India |
|
Tel. No.: |
91-22-28830309/ 32666244 |
|
Mobile No.: |
91-9892585351 (Mr. Deepak Garg) |
|
Fax No.: |
91-22-28883300 |
|
E-Mail : |
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|
Website : |
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|
Location : |
Owned |
|
|
|
|
Factory : |
Ajwa Road, Vadodara, Gujarat, India |
|
|
|
|
Hyderabad Office : |
Flat No.202, 2nd Floor, Datta Sai Nilayam, Behind Post Office, Balaji Nagar, Kutatpally, Hyderabad – 500 072,
Telangana, India |
|
E-Mail : |
DIRECTORS
AS ON 25.09.2014
|
Name : |
Mr. Ghanshyam Phoolchand Garg |
|
Designation : |
Director |
|
Address : |
E-401, Pleasant Park, Link Road, Malad (West), Mumbai – 400 064,
Maharashtra, India |
|
Date of Birth/Age : |
05.09.1952 |
|
Date of Appointment : |
03.04.2006 |
|
PAN No.: |
AABPG4926E |
|
Voter ID No.: |
MT09044096019 |
|
DIN No.: |
01086902 |
|
|
|
|
Name : |
Mrs. Sunita Ghanshyam Garg |
|
Designation : |
Director |
|
Address : |
E-401, Pleasant Park, Link Road, Malad (West), Mumbai – 400 064,
Maharashtra, India |
|
Date of Birth/Age : |
15.01.1955 |
|
Date of Appointment : |
03.04.2006 |
|
Voter ID No.: |
MT09044096022 |
|
DIN No.: |
01086888 |
|
|
|
|
Name : |
Mr. Deepak Ghanshyam Garg |
|
Designation : |
Director |
|
Address : |
E-401, Pleasant Park, Link Road, Malad (West), Mumbai – 400 064,
Maharashtra, India |
|
Date of Birth/Age : |
15.11.1982 |
|
Date of Appointment : |
03.04.2006 |
|
PAN No.: |
AGFPG8471L |
|
DIN No.: |
01086919 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 25.09.2014
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Ghanshyam Garg |
1000 |
10.00 |
|
Sunita Garg |
3000 |
30.00 |
|
Deepak Garg |
6000 |
60.00 |
|
Total |
10000 |
100.00 |
AS ON 25.09.2014
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Exporting
of scientific and laboratory glassware and research apparatus. |
|
|
|
|
Products : |
|
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
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|
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Exports : |
|
|
Products : |
Finished Goods |
|
Countries : |
· Middle East · United States of America · European Countries |
|
|
|
|
Imports : |
Not Available |
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|
|
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Terms : |
|
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Selling : |
Cash and Credit (30/ 60/ 90 days) |
|
|
|
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Purchasing : |
Cash and Credit (30/ 60/ 90 days)
|
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
End Users and OEM’s
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No. of Employees : |
120 (Approximately) |
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Bankers : |
· Kotak Mahindra Bank Limited, Malad (West) Branch, Mumbai, Maharashtra, India |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Rawani and Company Chartered Accountants |
|
Address : |
B-206, Hinal Heritage, Patel Wadi, S.V.P. Road Borivali (West), Mumbai
– 400 092, Maharashtra, India |
|
Tel. No.: |
91-22-65725036/ 20324107 |
|
Fax No.: |
91-22-28927393 |
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E-Mail : |
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|
Website : |
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|
Income-tax
PAN of auditor or auditor's firm : |
AABPR6534M |
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|
|
|
Memberships : |
All India Scientific Glass Apparatus Manufacturers
Association |
|
|
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Collaborators : |
Not Available |
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|
|
|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AS ON 25.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100
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 |
0.100 |
0.100 |
0.100 |
|
(b) Reserves & Surplus |
0.405 |
0.360 |
0.360 |
|
(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) |
0.505 |
0.460 |
0.460 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) Long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.119 |
|
(b) Trade payables |
4.179 |
3.797 |
7.188 |
|
(c) Other current liabilities |
0.231 |
0.061 |
0.606 |
|
(d) Short-term provisions |
0.000 |
0.003 |
0.020 |
|
Total Current Liabilities (4) |
4.410 |
3.861 |
7.933 |
|
|
|
|
|
|
TOTAL |
4.915 |
4.321 |
8.393 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
0.143 |
0.104 |
0.550 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.105 |
0.122 |
0.084 |
|
(d)
Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
0.248 |
0.226 |
0.634 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
0.481 |
0.622 |
0.850 |
|
(c) Trade receivables |
3.095 |
3.174 |
6.467 |
|
(d) Cash and cash equivalents |
0.972 |
0.285 |
0.333 |
|
(e) Short-term loans and advances |
0.119 |
0.014 |
0.109 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
4.667 |
4.095 |
7.759 |
|
|
|
|
|
|
TOTAL |
4.915 |
4.321 |
8.393 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
|
11.060 |
19.868 |
|
|
|
Other Income |
|
|
0.099 |
|
|
|
TOTAL (A) |
15.035 |
11.060 |
19.967 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
|
|
15.566 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
|
|
(0.375) |
|
|
|
Employees benefits expense |
|
|
1.544 |
|
|
|
Other expenses |
|
|
2.807 |
|
|
|
Preliminary Expense |
|
|
0.000 |
|
|
|
TOTAL (B) |
14.968 (Including
Financial and Deprecation Expenses) |
11.059 (Including
Financial and Deprecation Expenses) |
19.542 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
0.425 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
0.027 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
0.398 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
0.179 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
0.067 |
0.001 |
0.219 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.022 |
0.001 |
0.086 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
0.045 |
0.000 |
0.133 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
0.360 |
0.360 |
0.227 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
0.405 |
0.360 |
0.360 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
4.50 |
0.00 |
2.67 |
|
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover |
|
|
20.000 |
|
|
|
|
|
The above information has been parted by Mr. Deepak Garg (Director).
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
NA
|
NA
|
0.67 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
NA
|
NA
|
2.14 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.39 |
0.02 |
2.64 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.13 |
0.00 |
0.48 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.26 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.06 |
1.06 |
0.98 |
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 |
0.100 |
0.100 |
0.100 |
|
Reserves & Surplus |
0.360 |
0.360 |
0.405 |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
0.460 |
0.460 |
0.505 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.119 |
0.000 |
0.000 |
|
Total borrowings |
0.119 |
0.000 |
0.000 |
|
Debt/Equity ratio |
0.259 |
0.000 |
0.000 |
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) |
|
Total Income |
19.967 |
11.060 |
15.035 |
|
|
|
(44.609) |
35.940 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Total Income |
19.967 |
11.060 |
15.035 |
|
Profit |
0.133 |
0.000 |
0.045 |
|
|
0.67% |
0.00% |
0.30% |
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 |
Yes |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
No |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
No |
|
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 |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
CORPORATE
INFORMATION:
Subject is a Private Limited Company incorporated under the Companies Act, 1956, domiciled in India. It is engaged in Manufacturing and Trading in Glass, Glassware, Glass goods and the same is sold in the Indian markets, directly by the Company through it's agents.
INDEX
OF CHARGES
No Charges Exist for Company.
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Demand from Sales Tax Authorities |
0.668 |
0.000 |
FIXED ASSETS
· Computer
· Mobile Phone
· Furniture and Fixtures
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.63.90 |
|
UK Pound |
1 |
Rs.97.98 |
|
Euro |
1 |
Rs.71.82 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
SMN |
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 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
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 |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.