MIRA INFORM REPORT

 

 

Report No. :

326801

Report Date :

12.06.2015

 

IDENTIFICATION DETAILS

 

Name :

CONNELL BROS COMPANY (INDIA) PRIVATE LIMITED

 

 

Registered Office :

1st Floor, Hamilton House, 8, J.N. Heredia Marg, Ballard Estate, Mumbai – 400038, Maharashtra

Tel. No.:

91-22-66138300

 

 

Country :

India

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

18.05.1999

 

 

Com. Reg. No.:

11-119904

 

 

Capital Investment / Paid-up Capital :

Rs. 53.900 Million

 

 

CIN No.:

[Company Identification No.]

U24110MH1999PTC119904

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUMC10633A

 

 

PAN No.:

[Permanent Account No.]

AAACC9611L

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Trader and Distributor of Specialty Chemicals and Ingredients.

 

 

No. of Employees :

500 (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 1968000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

Comments :

Subject was established in the year 1999 engaged in business of variety of suppliers and products in multiple markets, including coatings and inks, plastics and rubber, food ingredients and personal and home care and other industrial segments. It is having a satisfactory track record.

 

Management has failed to file its financial record with government department for the year 2014.

 

However, for the financial year 2013, the company possesses operational performance and it has achieved top line growth of 18.28% along with the profitability margin of 7.2%.

 

Further the rating also reflects the well-built financial risk profile backed by adequate networth base and zero debt balance sheet profile of the company.

 

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

 

In view of healthy financial base, the company can be considered normal for business dealings at usual trade terms and conditions. 

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

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 (GENERAL DETAILS)

 

Name :

Mr. Rajesh

Designation :

Sales Head

Contact No.:

91-11-43509348

Date :

11.06.2015

 

 

LOCATIONS

 

Registered/ Corporate Office :

1st Floor, Hamilton House, 8, J.N. Heredia Marg, Ballard Estate, Mumbai – 400038, Maharashtra, India

Tel. No.:

91-22-66138300

Fax No.:

91-22-66138330

E-Mail :

nilesh.patel@wecocbc.com

info@wecocbc.com 

makrand.patil@wecocbo.com

Website :

http://www.connellbrothers.com

Location :

Owned

Locality :

Commercial

 

 

Branch Office 1 :

307, Competent House, Middle Circle, Connaught Place, New Delhi - 110001, India

Tel. No.:

91-11-43509348

Fax No.:

91-11-43509340

 

 

Branch Office 2 :

3rd Floor, Bansilal Building, 9/15, Homy Mody Street, Fort, Mumbai – 400023, Maharashtra, India

Tel. No.:

91-22-22815060

Fax No.:

91-22-22818060

 

 

Warehouses :

Located at:

 

·         Bhiwandi

·         Panvel

·         Delhi

 

 

DIRECTORS

 

AS ON 18.06.2014

 

Name :

Theodore Eliot III

Designation :

Managing director

Address :

401, Golden Gate Avenue, Belvedere, California, 94920, United States of America

Date of Birth/Age :

17.10.1953

Date of Appointment :

18.05.1999

DIN No.:

02231188

 

 

Name :

Parthiv Tanil Kilachand

Designation :

Director

Address :

95, Nepean Sea Road, Malabar Hill, Mumbai - 400006, Maharashtra, India

Date of Birth/Age :

27.03.1967

Date of Appointment :

18.05.1999

DIN No.:

00005516

 

 

Name :

Yogesh Shivraj Mathur

Designation :

Whole-time director

Address :

13, Padam-1, 4B, Peddar Road, Mumbai - 400026, Maharashtra, India

Date of Birth/Age :

22.11.1950

Date of Appointment :

10.05.2011

PAN No.:

AACPM2435M

DIN No.:

01059977

 

 

Name :

Nandish Tanil Kilachand

Designation :

Director

Address :

95, Nepean Sea Road, Malabar Hill, Mumbai - 400006, Maharashtra, India

Date of Birth/Age :

23.07.1972

Date of Appointment :

18.05.1999

DIN No.:

00005530

 

 

Name :

John Pomeroy Thacher

Designation :

Director

Address :

2482 Spring Mountain Road, St. Helena, California, 94574, United States of America

Date of Birth/Age :

01.10.1954

Date of Appointment :

11.02.2008

DIN No.:

02353500

 

 

Name :

Jeffrey Francis Streblow

Designation :

Director appointed in casual vacancy

Address :

5137 Coombsville Road, Napa, California, 94558, United States of America

Date of Birth/Age :

04.06.1959

Date of Appointment :

17.05.2009

DIN No.:

02682288

 

 

Name :

Eugene Scott Graddy

Designation :

Director

Address :

11 Ardmore PK, #13-01 Ardmore PK, Singapore 259957

Date of Birth/Age :

23.05.1961

Date of Appointment :

10.05.2011

DIN No.:

03583392

 

 

KEY EXECUTIVES

 

Name :

Mr. Rajesh

Designation :

Sales Head

 

 

Name :

Mr. Nilesh Amrutbhai Patel

Designation :

Secretary

Address :

A-102, Deep Residency, Tulinj Road, Near Bharat Gas Agency, Nallasopara (East), Mumbai - 401209, Maharashtra, India

Date of Birth/Age :

11.08.1989

Date of Appointment :

01.08.2013

PAN No.:

BXJPP8330H

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 18.06.2014

 

Names of Shareholders

No. of Shares

 

Percentage of Holding

Rasayani Traders Private Limited, India

269500

50.00

Wilbur Ellis Company, USA

269500

50.00

 

 

 

Total

 

539000

100.00

 

 

 

 

AS ON 18.06.2014

 

Equity Share Breakup

Percentage of Holding

Category

 

Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]

50.00

Bodies corporate

50.00

 

 

Total

 

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Trader and Distributor of Specialty Chemicals and Ingredients.

 

 

Products :

ITC Code No.

 

Product Descriptions

29310090

Coating Chemicals

34049090

Plastics

35040091

Food Chemicals

39100090

Personal Care

27129090

Pharma

32041769

Pigments

38099200

Paper Chemicals

 

 

Brand Names :

--

 

 

Agencies Held :

--

 

 

Exports :

 

Products :

Not Divulged

Countries :

Not Divulged

 

 

Imports :

 

Products :

Not Divulged

Countries :

Not Divulged

 

 

Terms :

 

Selling :

Cash and Cheque

 

 

Purchasing :

Cash and Cheque

 

 

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 :

Retailers, End users and Others

 

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 :

500 (Approximately)

 

 

Bankers :

Bank Name:

Not Divulged

Branch:

Not Divulged

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

 

·         ABN Amro Bank N. V.

7th Floor, Sakhar Bhavan, Nariman Point, Mumbai - 400021, Maharashtra, India

 

·         The Royal Bank of Scotland NV

·         Citibank NA

·         HSBC Limited

·         ICICI Bank Limited

 

 

Facilities :

--

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Lovelock and Lewes

Chartered Accountants

Address :

252, Veer Savarkar Marg, Shivaji Marg, Dadar [West], Mumbai - 400028, Maharashtra, India

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

AABFL5878L

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Ultimate Holding company :

Wilbur Ellis Company

 

 

Subsidiary company :

Connell Bros. Company Bangladesh Private Limited

 

 

Fellow Subsidiary company :

·         Connellbros Co. Limited (Malaysia)

·         Connell Bros. Co. (HK) Limited

·         Connell Bros. Co. Philipinas Inc

·         PT. Connell Bersaudara Chemindo

·         Connell Bros. (Shanghai) Co. Limited

·         PT. Cahaya Bumi Cemerlang

·         Connell Bros. Co. (Singapore) Pte Limited

·         Connell Bros. Co. (Taiwan) Limited

·         Connell Bros Company (Thailand) Limited

 

 

Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives :

·         Sun Tan Trading Company Limited [U51900MH1995PLC087924]

·         Ginners and Pressers Limited [U17110MH1950PLC007979]

·         Polychem Limited [L24100MH1955PLC009663]

·         Ramal Charities

·         Kilachand Devchand Foundation

 

 

CAPITAL STRUCTURE

 

AS ON 31.12.2013

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

800,000

Equity Shares

Rs. 100/- each

Rs. 80.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

539,000

Equity Shares

Rs. 100/- each

Rs. 53.900 Million

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.12.2013

31.12.2012

31.12.2011

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

53.900

53.900

53.900

(b) Reserves & Surplus

634.901

489.048

326.775

(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)

688.801

542.948

380.675

 

 

 

 

(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

63.000

(b) Trade payables

256.020

177.535

150.696

(c) Other current liabilities

60.760

29.507

32.011

(d) Short-term provisions

0.000

0.000

0.000

Total Current Liabilities (4)

316.780

207.042

245.707

 

 

 

 

TOTAL

1005.581

749.990

626.382

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

44.198

46.298

42.991

(ii) Intangible Assets

0.379

0.391

0.510

(iii) Capital work-in-progress

0.610

0.000

0.498

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

0.700

0.000

0.700

(c) Deferred tax assets (net)

17.562

11.287

11.308

(d)  Long-term Loan and Advances

23.207

21.968

12.716

(e) Other Non-current assets

0.000

0.000

9.300

Total Non-Current Assets

86.656

79.944

78.023

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

284.405

223.736

229.004

(c) Trade receivables

462.870

329.751

255.278

(d) Cash and cash equivalents

152.040

101.298

47.697

(e) Short-term loans and advances

17.444

13.717

15.280

(f) Other current assets

2.166

1.544

1.100

Total Current Assets

918.925

670.046

548.359

 

 

 

 

TOTAL

1005.581

749.990

626.382

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.12.2013

31.12.2012

31.12.2011

 

 

 

 

 

 

REVENUE FROM OPERATIONS

1997.444

1688.633

1493.776

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

TOTAL                                    

NA

NA

NA

 

 

 

 

 

 

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

228.255

251.415

215.261

 

 

 

 

 

Less

FINANCIAL EXPENSES                                   

0.228

1.194

7.476

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION

228.027

250.221

207.785

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                    

8.849

8.426

6.052

 

 

 

 

 

 

PROFIT BEFORE TAX

219.178

241.795

201.733

 

 

 

 

 

Less

TAX                                                                 

73.325

79.521

64.861

 

 

 

 

 

 

PROFIT AFTER TAX

145.853

162.274

136.872

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

443.748

281.474

144.602

 

 

 

 

 

 

BALANCE CARRIED TO THE B/S

589.601

443.748

281.474

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

Export Earnings

188.253

224.455

146.680

 

 

 

 

 

 

Earnings Per Share (Rs.)

270.60

301.06

253.94

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.12.2013

31.12.2012

31.12.2011

Current Maturities of Long term debt

0.000

0.000

0.000

 

 

 

 

Cash generated from operations

NA

NA

NA

 

 

KEY RATIOS

 

 

PARTICULARS

 

 

31.12.2013

31.12.2012

31.12.2011

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

22.21

32.73

32.86

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.32

0.45

0.53

 

 

 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 

0.00

0.00

0.17

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

2.90

3.24

2.23

 

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

 

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.12.2011

31.12.2012

31.12.2013

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

53.900

53.900

53.900

Reserves & Surplus

326.775

489.048

634.901

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

0.000

0.000

0.000

Net worth

380.675

542.948

688.801

 

 

 

 

Long-term borrowings

0.000

0.000

0.000

Short term borrowings

63.000

0.000

0.000

CURRENT MATURITIES OF LONG-TERM DEBTS

0.000

0.000

0.000

Total borrowings

63.000

0.000

0.000

Debt/Equity ratio

0.165

0.000

0.000

 

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.12.2011

31.12.2012

31.12.2013

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Revenue from Operations

1493.776

1688.633

1997.444

 

 

13.045

18.288

 

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.12.2011

31.12.2012

31.12.2013

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Revenue from Operations

1493.776

1688.633

1997.444

Profit

136.872

162.274

145.853

 

9.16%

9.61%

7.30%

 

 

 

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

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

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

Yes

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

No

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

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

10029028

30/04/2015 *

420,000,000.00

THE ROYAL BANK OF SCOTLAND N. V.

6TH FLOOR, TOWER # 4 MAKER MAXITY, NORTH AVENUE, BANDRA KURLA COMPLEX, MUMBAI, MAHARASHTRA - 400051, INDIA

C52839388

 

* Date of charge modification

 

 

MANAGEMENT DISCUSSION AND ANALYSIS

 

TRADING BUSINESS

 

Sales of Traded Goods during the year ended 31st December 2013 was Rs. 1355.704 Million consisting Rs. 1253.812 Million domestic sale and Rs. 101.892 Million of export sale compared to Rs. 999.915 Million consisting of Rs. 929.662 Million of domestic sale and Rs. 70.253 Million of export sale during the previous year.

 

 

AGENCY / INDENTING BUSINESS

 

Total value of goods indented for direct delivery to customers during the year was Rs. 994.300 Million compared to Rs. 4160.500 Million during the previous year and Commission earned during the year was Rs. 41.633 Million compared to Rs. 118.117 Million during the previous year. The indenting business covers import as well as export of specialty chemicals and Guar Gum.

 

 

MANUFACTURING OPERATIONS

 

Sales of Manufactured Goods during the year ended 31st December 2013 were Rs. 594.310 Million consisting Rs. 575.302 Million of domestic sale and Rs.19.008 Million of export sale compared to Rs. 565.443 Million consisting of Rs. 543.050 Million of domestic sale and Rs. 22.393 Million of export sale during the previous year.

 

 

FINANCE

 

During the year, the Company has not taken any loan as compared to maximum loan of Rs. 39.000 Million during the previous year under overall credit facilities from The Royal Bank of Scotland N.V. (formerly ABN Amro Bank N.V.).

 

 

FIXED ASSETS:

 

·         Plant and equipment

·         Factory equipments

·         Other plant and equipment

·         Furniture and fixtures

·         Vehicles

·         Office equipment

·         Computer equipments

·         Leasehold improvements

·         Computer software

 

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

1]         INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

 

2]         Court Declaration :

No exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

 

3]         Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

 

4]         Record on Financial Crime :

            Charges or conviction registered against subject:                                                           None

 

5]         Records on Violation of Anti-Corruption Laws :

            Charges or investigation registered against subject:                                                        None

 

6]         Records on Int’l Anti-Money Laundering Laws/Standards :

            Charges or investigation registered against subject:                                                        None

 

7]         Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

 

8]         Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

 

9]         Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

 

10]        Press Report :

            No press reports / filings exists on the subject.

 

CORPORATE GOVERNANCE

 

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

 

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

 

 

CONTRAVENTION

 

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

 

 

FOREIGN EXCHANGE RATES

 

Currency

 
Unit

Indian Rupees

US Dollar

1

Rs. 63.89

UK Pound

1

Rs. 98.90

Euro

1

Rs. 72.15

 

 

INFORMATION DETAILS

 

Information Gathered by :

MAN

 

 

Analysis Done by :

TRI

 

 

Report Prepared by :

BVA

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILIRY

1~10

5

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--RESERVES

1~10

6

--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

NO

--AFFILIATION

YES/NO

YES

--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.