MIRA INFORM REPORT

 

 

Report No. :

326458

Report Date :

11.06.2015

 

IDENTIFICATION DETAILS

 

Name :

IC ICE MAKE REFRIGERATION PRIVATE LIMITED

 

 

Registered Office :

B-1, Vasupujya Chamber, Near Navdeep Building, Income Tax Cross Road, Ahmedabad-380009, Gujarat

Tel. No.:

91-79-27540630

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

31.03.2009

 

 

Com. Reg. No.:

04-056482

 

 

Capital Investment / Paid-up Capital :

Rs. 14.390 Million

 

 

CIN No.:

[Company Identification No.]

U29220GJ2009PTC056482

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

AHMI01252G

 

 

PAN No.:

[Permanent Account No.]

AACCI0566L

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer, Exporter and Importer of Industrial and Commercial Refrigeration Equipment’s.

 

 

No. of Employees :

225 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (46)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

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

Satisfactory

 

Maximum Credit Limit :

USD 197000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having satisfactory track record.

 

General financial position of the company seems to be sound. Profitability of the company is fair.

 

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

 

The company can be considered for business dealings at usual trade terms and condition.

 

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

 

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. Nikhil

Designation :

Manager

Contact No.:

91-9727762427

Date :

09.06.2015

 

 

LOCATIONS

 

Registered Office :

B-1, Vasupujya Chamber, Near Navdeep Building, Income Tax Cross Road, Ahmedabad-380009, Gujarat, India

Tel. No.:

91-79-27540630

Mobile No.:

91-9727762427 [Mr. Nikhil]

Fax No.:

91-79-27540620

E-Mail :

Icemake1@gmail.com

info@icemakeiindia.com

Website :

http://www.icemakeindia.com

Location :

Owned

Locality :

Commercial

 

 

Factory:

Survey No.226/227, Dantali Industrial Estate, Gota-Vadsar Road, Dantali, At : Dantali, Taluka Kalol, District : Gandhinagar, Ahmedabad-382721, Gujarat, India

Tel. No.:

91-79-65426394 / 95 / 25851816 / 25858755 / 65426416 / 25862526 / 25861226

Fax No.:

91-79-27540620 / 25851816 / 25858755

Area :

125000 Sq. ft.

Location :

Owned

Locality :

Industrial

 

 

DIRECTORS

 

AS ON 30.09.2014

 

Name :

Mr. Chandrakant Popatbhai Patel

Designation :

Director

Address :

23, Apurva Bunglowl, Near Memnagar, Saheli Party Plot, Bhuyangdev Road, Ahmedabad-380052, Gujarat, India

Date of Birth/Age :

01.06.1968

Date of Appointment :

31.03.2009

DIN No.:

02441116

 

 

Name :

Mr. Rajendrabhai Popatbhai Patel

Designation :

Director

Address :

22-a, Sarvoday Swatantra, Ghatlodia, Ahmedabad-380061, Gujarat, India

Date of Birth/Age :

01.06.1970

Date of Appointment :

31.03.2009

DIN No.:

02441138

 

 

Name :

Mr. Vipul Ishwarbhai Patel

Designation :

Director

Address :

43, Apurva Bunglow, Near Memnagar Sahali Party Plot, Bhuyangdev Road, Ahmedabad-380052, Gujarat, India

Date of Birth/Age :

01.06.1975

Date of Appointment :

31.03.2009

DIN No.:

02473121

 

 

 

KEY EXECUTIVES

 

Name :

Mr. Nikhil

Designation :

Manager

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2014

 

Names of Shareholders

No. of Shares

 

Percentage of Holding

Chandrakant Popatbhai Patel

454003

31.55

Rajendrabhai Popatbhai Patel

461660

32.08

Vipul Ishwarbhai Patel

456670

31.74

Popatbhai Laljibhai Patel

32167

2.24

Gauriben Popatbhai Patel

10000

0.69

Ishwarbhai Laljibhai Patel

12000

0.83

Kantaben Ishwarbhai Patel

10000

0.69

Manishaben Bhailal Patel

2500

0.17

Total

 

1439000

100.00

 

 

 

 

 

AS ON 30.09.2014

 

Equity Share Breakup

Percentage of Holding

Category

 

Directors or relatives of directors

100.00

 

 

Total

 

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer, Exporter and Importer of Industrial and Commercial Refrigeration Equipment’s.

 

 

Products :

·         Cold Room / Storage

·         Chilling Plants / Chillers

·         Commercial Refrigeration

·         Ice Cream Machinery

 

 

Brand Names :

--

 

 

Agencies Held :

--

 

 

Exports :

 

Products :

Industrial and Commercial Refrigeration Equipment’s.

Countries :

·         Nepal

·         US

·         Uganda

 

 

Imports :

 

Products :

Raw Material

Countries :

·         China

·         USA

 

 

Terms :

 

Selling :

Cash and Credit

 

 

Purchasing :

Cash and Credit

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference:

Not Divulged

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

 

Customers :

End Users

 

Reference:

Not Divulged

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

 

No. of Employees :

225 (Approximately)

 

 

Bankers :

Bank Name:

Canara Bank

Branch:

Sharda Society Branch, Paldi, Ahmedabad - 380009, 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 A/c Opening):

Not Divulged

Average Balance Maintained (Optional):

Not Divulged

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

Not Divulged

Account Operation:

Not Divulged

Remarks:

Not Divulged

 

 

Facilities :

SECURED LOANS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

LONG-TERM BORROWINGS

 

 

Term Loan From Scheduled bank

(The above loan carries interest @13.50 p.a. The loan is repayable in 59 monthly instalments of Rs. 5.16 Lacs along with interest from June 09)

0.000

5.111

Term Loan From Scheduled Bank

(The above loan carries interest @ 13.50 p.a. The loan is repayable in 84 monthly instalments of Rs. 2.26 Lacs along with interest from Sept 11)

(The above loan is secured against Hypothecations of Machineries and other current assets, Mortgage of factory land and building, Collateral Securities from director and personal guarantees of directors)

4.493

6.112

Term Loan from Scheduled Bank (The above loan carried interest @ 12.70 p.a. The loan is repayable in 88 monthly instalments) (The above loan is secured against hypothecations of Machineries and other current assets, Mortgage of factory land and building collateral securities from director and personal guarantees of directors)

13.342

0.000

From Bank against HPA of Motor Cars

(The above loan carries interest @ 11.68% p.a. The loan is repayable in 36 Monthly instalments of Rs. 19458 Including interest from the date of loan i.e. 15-11-2011)

(The above loan is secured against HPA of motor cars)

0.000

0.115

From Bank against HPA of Motor Cars

(The above loan carries interest @ 11.50% p.a. The loan is repayable in 48 monthly instalments of Rs. 17820 including interest from the date of loan i.e. Oct 2012)

(The above loan is secured against HPA of Motor Cars)

0.117

0.308

From Bank against HPA of Motor Cars (The above loan carries interest @ 11.50% p.a. The loan is repayable in 48 monthly instalments of Rs. 23480 including interest from the date of loan i.e. 11.06.2010)

(The above loan is secured against HPA of Motor Cars)

0.000

0.042

From Bank against HPA of Motor Cars (The above loan carries interest @12.45% p.a. The loan is repayable in 36 monthly instalments of Rs. 15500 including interest from the date of loan i.e. 05.07.2013)

( The above loan is secured against HPA of motor Cars)

0.173

0.000

From Bank against HPA of Motor Cars (The above loan carries interest @10.95 % p.a. The loan is repayable in 36 monthly instalments of Rs. 45636 including interest from the date of loan i.e. 12.06.2013)

( The above loan is secured against HPA of motor Cars)

0.757

0.000

Loans and advances from related parties

25.054

18.306

 

 

 

SHORT TERM BORROWINGS

 

 

Cash Credit facilities from a Scheduled Bank

57.841

42.674

Total

 

101.777

72.668

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Patel and Jesalpura

Chartered Accountants

Address :

803/804, Samudra Annexe, Near Klassic Gold Hotel, Off C.G.Road, Navrangpura, Ahmedabad – 380006, Gujarat, India

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

AAFFP1700R

 

 

Associates/Subsidiaries :

Not Available

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1,500,000

Equity Shares

Rs. 10/- each

Rs. 15.000 Miilion

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1,439,000

Equity Shares

Rs. 10/- each

Rs. 14,390 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

14.390

12.670

12.670

(b) Reserves & Surplus

54.483

34.409

25.250

(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)

68.873

47.079

37.920

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

43.936

29.994

37.572

(b) Deferred tax liabilities (Net)

0.902

0.608

0.505

(c) Other long term liabilities

6.247

0.421

0.172

(d) long-term provisions

0.000

0.000

0.000

Total Non-current Liabilities (3)

51.085

31.023

38.249

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

57.841

42.674

25.027

(b) Trade payables

73.117

65.575

45.829

(c) Other current liabilities

32.021

22.404

25.446

(d) Short-term provisions

0.000

0.674

0.265

Total Current Liabilities (4)

162.979

131.327

96.567

 

 

 

 

TOTAL

282.937

209.429

172.736

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

78.058

59.063

58.190

(ii) Intangible Assets

0.890

0.865

0.144

(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)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

0.891

0.396

3.611

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

79.839

60.324

61.945

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

87.855

62.948

59.122

(c) Trade receivables

82.220

56.201

40.238

(d) Cash and cash equivalents

21.882

22.798

4.338

(e) Short-term loans and advances

10.959

7.008

6.970

(f) Other current assets

0.182

0.150

0.123

Total Current Assets

203.098

149.105

110.791

 

 

 

 

TOTAL

282.937

209.429

172.736

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

Income

391.720

404.304

271.814

 

 

Other Income

0.873

0.522

0.024

 

 

TOTAL                                     (A)

392.593

404.826

271.838

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Materials Consumed

279.622

302.848

198.711

 

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

(10.419)

(4.753)

(5.502)

 

 

Other manufacturing Expenses

21.048

19.516

18.414

 

 

Employees benefits expense

29.151

25.520

16.438

 

 

Other expenses

39.940

32.201

19.931

 

 

TOTAL                                     (B)

359.342

375.332

247.992

 

 

 

 

 

 

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)     (C)

33.251

29.494

23.846

 

 

 

 

 

Less

FINANCIAL EXPENSES                                    (D)

11.789

8.605

9.008

 

 

 

 

 

 

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

21.462

20.889

14.838

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

8.323

7.013

6.860

 

 

 

 

 

 

PROFIT BEFORE TAX (E-F)                              (G)

13.139

13.876

7.978

 

 

 

 

 

Less

TAX                                                                  (H)

4.245

4.718

2.610

 

 

 

 

 

 

PROFIT AFTER TAX (G-H)                                (I)

8.894

9.158

5.368

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

Export Earnings

2.976

4.592

8.036

 

 

 

 

 

 

Earnings Per Share (Rs.)

6.85

7.23

4.97

 

Expected Sales (2014-2015): Rs. 500.000 Million

 

The above information has been parted by Mr. Nikhil (Manager)

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

6.686

7.513

5.975

 

 

 

 

Cash generated from operations

NA

NA

NA

 

 

 

KEY RATIOS

 

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

2.27

2.27

1.97

 

 

 

 

 

Operating Profit Margin

(PBDIT/Sales)

(%)

8.49

7.30

8.77

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

4.64

6.63

4.62

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.19

0.29

0.21

 

 

 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 

1.57

1.70

1.81

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.25

1.14

1.15

 

 

 

 

 

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

12.670

12.670

14.390

Reserves & Surplus

25.250

34.409

54.483

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

0.000

0.000

0.000

Net worth

37.920

47.079

68.873

 

 

 

 

Long-term borrowings

37.572

29.994

43.936

Short term borrowings

25.027

42.674

57.841

CURRENT MATURITIES OF LONG-TERM DEBTS

5.975

7.513

6.686

Total borrowings

68.574

80.181

108.463

Debt/Equity ratio

1.808

1.703

1.575

 

 

 

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

271.814

404.304

391.720

 

 

48.743

(3.113)

 

 

 

 

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

271.814

404.304

391.720

Profit

5.368

9.158

8.894

 

1.97%

2.27%

2.27%

 

 

 

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)

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

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

Yes

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

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10166473

20/01/2014 *

137,320,000.00

CANARA BANK

SHARADA SOCIETY BRANCH, PALDI, AHMEDABAD - 380009, GUJARAT, INDIA

B94883212

2

10166374

20/01/2014 *

137,320,000.00

CANARA BANK

SHARDA SOCIETY BRANCH, PALDI, AHMEDABAD - 380009, GUJARAT,  INDIA

B94882859

 

* Date of charge modification

 

 

CHANGE OF ADDRESS:

 

The Registered Office of the company has been shifted from 11/13 and 11/14, Subhash Industrial Estate, Near AMC Pumping Station, Ramol Road, Amraiwadi, Ahmedabad – 380026, Gujarat, India to the present address w.e.f. 25.11.2010.

 

 

 

CORPORATE INFORMATION

 

The company is a private company domiciled in India and incorporated under the provisions of companies Act, 1956. The company is engaged in the manufacturing of Cold Rooms, Freezer and Refrigeration System etc.

 

 

FIXED ASSETS:

 

·         Freehold Land

·         Factory Building

·         Office Building

·         Computer

·         Machineries

·         Electric Installation

·         Office Equipment’s

·         Vehicles

·         Furniture

 

 

 

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.63.94

UK Pound

1

Rs.98.27

Euro

1

Rs.72.37

 

 

INFORMATION DETAILS

 

Information Gathered by :

NYA

 

 

Analysis Done by :

RAS

 

 

Report Prepared by :

ARC

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

6

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILIRY

1~10

5

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--RESERVES

1~10

5

--CREDIT LINES

1~10

5

--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

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

 

46

 

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.