MIRA INFORM REPORT
|
Report No. : |
327439 |
|
Report Date : |
15.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
VALIANT ORGANICS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
109, Udyog Kshetra, 1st Floor, Mulund Goregaon Link Road,
Mulund (West), Mumbai – 400080, Maharashtra |
|
Tel. No.: |
91-22-25913767 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
16.02.2005 |
|
|
|
|
Com. Reg. No.: |
11-151348 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 3.640
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24230MH2005PTC151348 |
|
|
|
|
IEC No.: |
0388044071 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMV12015D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCV0024A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Exporter and Importer of Organic Chemicals. |
|
|
|
|
No. of Employees
: |
50 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company incorporated during the year 2005
having a satisfactory track record. Available financials indicates company sound financial risk profile
marked by healthy reserves position and decent profitability of the company. Trade relations are reported as fair. Business is active. Payments terms
are reported to be usually correct and as per commitment. 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.
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. Arvind Kanji Chheda |
|
Designation : |
Director |
|
Contact No.: |
91-22-25913767 |
|
Date : |
15.06.2015 |
LOCATIONS
|
Registered Office : |
109, Udyog Kshetra, 1st Floor, |
|
Tel. No.: |
91-22-25913767/ 25913768/ 25913766/ 55976640 |
|
Mob. No.: |
91-9820180395 (Mr. Arvind Kanji Chheda) |
|
Fax No.: |
91-22-25913765 |
|
E-Mail : |
|
|
Area : |
300 Sq. ft. |
|
Location : |
Owned |
|
|
|
|
Factory : |
2906 and 755, GIDC, Sarigam – 396155, |
|
Area : |
6000 Sq. ft. |
|
Location : |
Leased |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Hemchand Lalji Gala |
|
Designation : |
Director |
|
Address : |
3-B, Amrit, P.M. Road, Santacruz (West), Mumbai-400054, Maharashtra,
India |
|
Date of Birth/Age : |
24.11.1945 |
|
Qualification : |
Chemicals Engineer |
|
Date of Appointment : |
16.02.2005 |
|
Din No.: |
01587225 |
|
|
|
|
Name : |
Mr. Arvind Kanji Chheda |
|
Designation : |
Director |
|
Address : |
A-8, Mahesh Apartment, B M Bhargava Marg, Santacruz (West), Mumbai –
400054, Maharashtra, India |
|
Date of Birth/Age : |
01.07.1959 |
|
Qualification : |
Diploma Commerce |
|
Date of Appointment : |
16.02.2005 |
|
Din No.: |
00299741 |
|
|
|
|
Name : |
Mr. Vicky Hemchand Gala |
|
Designation : |
Director |
|
Address : |
3-B, Amrit P.M. Road, Santacruz (West), Mumbai-400054, Maharashtra,
India |
|
Date of Birth/Age : |
05.05.1981 |
|
Date of Appointment : |
01.04.2012 |
|
Din No.: |
05235515 |
|
|
|
|
Name : |
Mr. Vishnu Jotiram Sawant |
|
Designation : |
Director |
|
Address : |
Government Employee Shanti Co-operative Housing Society Limited, Plot
No. 1514, H. Room No. E-403, Chanod Vapi, Valsad-396195, Gujarat, India |
|
Date of Birth/Age : |
01.06.1962 |
|
Date of Appointment : |
06.04.2011 |
|
Din No.: |
03477593 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Hemchand Lalji Gala |
35627 |
9.79 |
|
Arvind K. Chheda |
45504 |
12.50 |
|
Aarti Rajendra Gogri |
47324 |
13.00 |
|
Manisha Rashesh Gogri |
61886 |
17.00 |
|
Meena Manoj Chheda |
45504 |
12.50 |
|
Bhanumati Mohan Savla |
34613 |
9.51 |
|
Dhanvanti Hemchand Gala |
20767 |
5.70 |
|
Vicky Hemchand Gala |
34613 |
9.51 |
|
Sumeet Mohanlal Savla |
38194 |
10.49 |
|
Total |
364032 |
100.00 |
AS ON 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
38.00 |
|
Other top fifty shareholders |
62.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of Organic Chemicals. |
|
|
|
|
Products : |
·
Para Chloro
Phenol ·
4-Di Chloro
Phenol ·
Ortho Choloro
Phenol ·
6-Di Chloro Phenol · Dyes |
|
|
|
|
Brand Names : |
-- |
|
|
|
|
Agencies Held : |
-- |
|
|
|
|
Exports : |
|
|
Products : |
Organic Chemicals |
|
Countries : |
· USA · Europe · Japan |
|
|
|
|
Imports : |
|
|
Products : |
Raw Materials |
|
Countries : |
· USA · Europe · Taiwan · Korea |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
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|
|
|
Purchasing : |
Cash and Credit |
PRODUCTION STATUS:
NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Manufacturer
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No. of Employees : |
50 (Approximately) |
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Bankers : |
· HDFC Bank, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai – 400013, Maharashtra, India · Citibank N.A., Bandra Kurla Complex, Mumbai, Maharashtra, India |
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Facilities : |
NOTE: Working capital loan of Rs. 60.000 Million (Previous Year Rs. 60.000 Million) from Citi Bank (Previous Year with HDFC Bank) are secured by hypothecation of stock and book debts of the respective activities and collateral security is provided by creating equitable mortgage of the properties held by the company, actual utilization of such facilities, during the year was as follows. |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Madan Dedhia and Associates Chartered Accountants |
|
Address : |
204, Chheda Bhavan, 98, Surat Street, Masjid East, Mumbai-400009,
Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAPV8139M |
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|
|
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Memberships : |
-- |
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|
|
|
Collaborators : |
-- |
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|
|
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Associates/Subsidiaries : |
-- |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
750000 |
Equity Shares |
Rs.10/- each |
Rs.7.500 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
364032 |
Equity Shares |
Rs.10/- each
|
Rs.3.640
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 |
3.640 |
3.640 |
4.278 |
|
(b) Reserves & Surplus |
183.360 |
145.802 |
151.411 |
|
(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) |
187.000 |
149.442 |
155.689 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
13.873 |
13.003 |
11.808 |
|
(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) |
13.873 |
13.003 |
11.808 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short-term borrowings |
50.227 |
23.104 |
20.106 |
|
(b)
Trade payables |
56.811 |
50.571 |
27.134 |
|
(c)
Other current liabilities |
1.278 |
1.220 |
1.142 |
|
(d)
Short-term provisions |
65.340 |
39.037 |
47.072 |
|
Total
Current Liabilities (4) |
173.656 |
113.932 |
95.454 |
|
|
|
|
|
|
TOTAL |
374.529 |
276.377 |
262.951 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
109.992 |
97.652 |
95.845 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
3.732 |
0.000 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
22.323 |
24.823 |
3.916 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
2.019 |
2.043 |
1.367 |
|
(e)
Other Non-current assets |
0.016 |
0.033 |
0.049 |
|
Total
Non-Current Assets |
138.082 |
124.551 |
101.177 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
66.009 |
25.180 |
32.348 |
|
(c)
Trade receivables |
105.221 |
65.928 |
61.762 |
|
(d)
Cash and cash equivalents |
8.018 |
24.574 |
25.832 |
|
(e)
Short-term loans and advances |
57.199 |
36.144 |
41.832 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
236.447 |
151.826 |
161.774 |
|
|
|
|
|
|
TOTAL |
374.529 |
276.377 |
262.951 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
425.098 |
339.945 |
326.767 |
|
|
|
Other Income |
14.003 |
12.215 |
5.124 |
|
|
|
TOTAL |
439.101 |
352.160 |
331.891 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
357.085 |
291.617 |
272.443 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
82.016 |
60.543 |
59.448 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
26.571 |
20.95 |
20.239 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
55.445 |
39.593 |
39.209 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
126.598 |
128.215 |
126.910 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
152.31 |
108.76 |
91.65 |
|
|
PARTICULARS |
|
|
31.03.2015 |
|
|
|
|
|
|
Sales Turnover (Approximately) |
|
|
594.900 |
The above information has been parted by Mr. Arvind Kanji Chheda
(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) |
(%) |
13.04 |
11.65 |
12.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
23.54 |
24.07 |
22.95 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.44 |
0.41 |
0.38 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.27 |
0.15 |
0.13 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.36 |
1.33 |
1.69 |
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 |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
4.278 |
3.640 |
3.640 |
|
Reserves & Surplus |
151.411 |
145.802 |
183.360 |
|
Money received against Share
Warrants |
0.000 |
0.000 |
0.000 |
|
Share Application Money
Pending Allotment |
0.000 |
0.000 |
0.000 |
|
Net
Worth |
155.689 |
149.442 |
187.000 |
|
|
|
|
|
|
Long-term Borrowings |
0.000 |
0.000 |
0.000 |
|
Short-term Borrowings |
20.106 |
23.104 |
50.227 |
|
CURRENT MATURITIES OF LONG-TERM
DEBTS |
0.000 |
0.000 |
0.000 |
|
Total
Borrowings |
20.106 |
23.104 |
50.227 |
|
Debt/Equity
Ratio |
0.129 |
0.155 |
0.269 |
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 |
326.767 |
339.945 |
425.098 |
|
|
|
4.033 |
25.049 |
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 |
326.767 |
339.945 |
425.098 |
|
Profit |
39.209 |
39.593 |
55.445 |
|
|
12.00% |
11.65% |
13.04% |
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 |
Yes |
|
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 |
Yes |
|
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 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 |
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 |
10516257 |
17/06/2014 |
90,000,000.00 |
CITI BANK N.A. |
FIRST INTERNATIONAL
FINANCIAL CENTRE, 9TH FLOOR, |
C17647728 |
|
2 |
10509796 |
04/04/2014 |
90,000,000.00 |
CITI BANK N.A. |
FIRST INTERNATIONAL
FINANCIAL CENTRE, 9TH FLOOR, |
C11867751 |
|
3 |
10364902 |
13/03/2015 * |
130,000,000.00 |
CITI BANK N.A. |
FIRST INTERNATIONAL
FINANCIAL CENTRE, 9TH FLOOR,, |
C53370706 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
SHORT TERM
BORROWINGS |
|
|
|
Loans and Advances From Related Parties |
43.100 |
16.400 |
|
Total |
43.100 |
16.400 |
FIXED ASSETS
· Land
· Buildings
· Plant and Machinery
· Furniture and fixture
· Vehicles and Aircraft
· Office Equipment’s
· Computer Systems
Intangible Assets
· Goodwill
· Technical Knowhow
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON DESIGNATED
PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No 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. 64.03 |
|
|
1 |
Rs. 99.27 |
|
Euro |
1 |
Rs. 71.90 |
INFORMATION DETAILS
|
Information Gathered
by : |
KMN |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
7 |
|
--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 |
|
50 |
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.