MIRA INFORM REPORT
|
Report No. : |
327317 |
|
Report Date : |
18.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
BHAGWATI PRODUCTS LIMITED (w.e.f. 28.10.2002) |
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|
|
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Formerly Known
As : |
BHAGWATI COOKIES AND WAFERS LIMITED |
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|
|
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Registered
Office : |
Block – A, Plot No. 21/14, 4th Floor, Nearing Industrial
Area, Phase – II, New Delhi - 110028 |
|
Mobile No.: |
91-9810721869 |
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|
|
|
Country : |
India |
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|
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Financials (as
on) : |
31.03.2015 |
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|
|
Date of
Incorporation : |
28.10.2002 |
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|
|
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Com. Reg. No.: |
55-258355 |
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|
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Capital
Investment / Paid-up Capital : |
Rs.21.469 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15412DL2002PLC258355 |
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IEC No.: |
0204007445 |
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|
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
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PAN No.: [Permanent Account No.] |
AACCB1828N |
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|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
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Line of Business
: |
Manufacturer of Micromax tab, mobile, led, I-pad, charger, battery |
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|
|
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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 |
|
Maximum Credit Limit : |
USD 740000 |
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|
|
|
Status : |
Satisfactory |
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|
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company incorporated in the year 2002. It is
engaged in the business of manufacturing of micromax tab, mobile, led, I-pad,
charges, batteries etc. It has a satisfactory track record. For the financial year ended 2014, the company possesses healthy
operational performance and it has achieved a good profitability margin of
4.4%. Rating also takes into Consideration Company’s improved operating
cycle and healthy liquidity position and also fine net worth. Trade relations are reported as fair. Business is active, Payments
terms are usually correct. In the view of aforesaid, 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 |
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Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE RATING |
|
Rating |
Short term Bank Facilities = Care [A1(so)] |
|
Rating Explanation |
Very strong degree of safety and carry
lowest credit risk. |
|
Date |
December 12, 2014 |
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. Naresh |
|
Designation : |
Chartered Accountant |
|
Contact No.: |
91-9810721869 |
|
Date : |
12.06.2015 |
LOCATIONS
|
Registered Office : |
Block – A, Plot No. 21/14, 4th Floor, Nearing Industrial Area,
Phase – II, New Delhi - 110028 |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9810721869 (Mr. Naresh) |
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Fax No.: |
Not Available |
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E-Mail : |
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Location : |
Owned |
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Locality : |
Commercial |
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|
|
|
Factory : |
Plot No. 18, Sector 2, Integrated Industrial Estate, Pant Nagar,
Rudrapur, India |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Rajesh Agarwal |
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Designation : |
Director |
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Address : |
B-312, Saraswati, New Delhi – 110034, India |
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Date of Birth/Age : |
22.02.1965 |
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Date of Appointment : |
19.12.2011 |
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DIN No.: |
00060434 |
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Name : |
Mr. Vikas Jain |
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Designation : |
Director |
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Address : |
B-1/118, IIND Floor, Block-B1, Paschim Vihar, New Delhi – 110063,
India |
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Date of Birth/Age : |
01.08.1974 |
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Date of Appointment : |
30.09.2013 |
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DIN No.: |
00331624 |
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Other Directorship:
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Name : |
Mr. Mukesh Gupta |
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Designation : |
Director |
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Address : |
House No. 28, Road No.20, East Punjab Bagh, New Delhi – 110026, India |
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Date of Birth/Age : |
15.10.1963 |
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Date of Appointment : |
28.09.2014 |
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DIN No.: |
01945293 |
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Other Directorship:
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KEY EXECUTIVES
|
Name : |
Mr. Naresh |
|
Designation : |
Chartered Accountant |
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|
|
|
Name : |
Mr. Suresh Pathak |
|
Designation : |
Assistant Manager |
|
Mobile No.: |
91-9759841256 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Mukesh Gupta |
|
226493 |
|
Avinash Jain |
|
226613 |
|
Rajesh Agarwal |
|
1812703 |
|
Rohan Agarwal |
|
100 |
|
Purshottam Lal Sharma |
|
100 |
|
Lily Gupta |
|
100 |
|
Punit Sharma |
|
10 |
|
Rakesh Gupta |
|
10 |
|
Total |
|
2266129 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
89.99 |
|
Other top fifty shareholders |
10.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Micromax tab, mobile, led, I-pad, charger, battery |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
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Countries : |
China |
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Terms : |
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Selling : |
Cash, Cheque and Credit (60, 90 Days) |
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Purchasing : |
Cash, Cheque and Credit (60, 90 Days) |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
50 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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|
Name : |
Sandeep Kuldeep and Company Chartered Accountants |
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Address : |
G-20/220, Sector-7, Rohini , Delhi-110085, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
ACBFS3881L |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Other related parties : |
Silicon Televenture Private Limited U32103DL2009PTC192864 |
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Holding Company : |
Micromax Informatics Limited U00000DL2000PLC104823 |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2266129 |
Equity Shares |
Rs.10/- each |
Rs.22.661
Million |
|
|
|
|
|
After 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2146874 |
Equity Shares |
Rs.10/- each |
Rs.21.469
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 |
22.661 |
7.950 |
7.950 |
|
(b) Reserves & Surplus |
198.209 |
13.664 |
0.011 |
|
(c) Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
38.999 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
259.869 |
21.614 |
7.961 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
1.311 |
0.219 |
0.262 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
1.835 |
0.159 |
0.000 |
|
Total
Non-current Liabilities (3) |
3.146 |
0.378 |
0.262 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
133.551 |
6.000 |
71.499 |
|
(b) Trade payables |
462.070 |
3.081 |
5.548 |
|
(c) Other current liabilities |
19.636 |
76.177 |
0.112 |
|
(d) Short-term provisions |
33.374 |
2.686 |
-0.181 |
|
Total
Current Liabilities (4) |
648.631 |
87.944 |
76.978 |
|
|
|
|
|
|
TOTAL |
911.646 |
109.936 |
85.201 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
244.974 |
51.977 |
40.885 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
18.342 |
|
(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 |
36.371 |
2.699 |
0.000 |
|
(e) Other Non-current assets |
0.000 |
31.482 |
0.000 |
|
Total
Non-Current Assets |
281.345 |
86.158 |
59.227 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
15.165 |
|
(b) Inventories |
183.378 |
16.102 |
5.787 |
|
(c) Trade receivables |
184.565 |
0.110 |
0.081 |
|
(d) Cash and cash equivalents |
241.021 |
0.311 |
3.228 |
|
(e) Short-term loans and
advances |
21.337 |
6.829 |
1.713 |
|
(f) Other current assets |
0.000 |
0.426 |
0.000 |
|
Total
Current Assets |
630.301 |
23.778 |
25.974 |
|
|
|
|
|
|
TOTAL |
911.646 |
109.936 |
85.201 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
3614.514 |
541.953 |
0.080 |
|
|
Other Income |
20.701 |
0.272 |
0.643 |
|
|
TOTAL
(A) |
3635.215 |
542.225 |
0.723 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
3377.959 |
501.783 |
0.049 |
|
|
Changes in inventories of finished
goods, work-in-progress and Stock-in-Trade |
0.099 |
(0.350) |
0.000 |
|
|
Employees benefits expense |
44.587 |
12.919 |
0.486 |
|
|
Prior period items |
0.036 |
0.000 |
0.000 |
|
|
Extraordinary item |
0.000 |
0.000 |
0.600 |
|
|
Other expenses |
39.675 |
10.026 |
1.301 |
|
|
TOTAL
(B) |
3462.356 |
524.378 |
2.436 |
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
172.859 |
17.847 |
(1.713) |
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.460 |
0.008 |
0.005 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
172.399 |
17.839 |
(1.718) |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
12.050 |
4.229 |
0.479 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
160.349 |
13.610 |
(2.197) |
|
|
|
|
|
|
|
Less |
TAX (H) |
1.092 |
(0.043) |
(0.515) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
159.257 |
13.653 |
(1.682) |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
99.31 |
17.17 |
(2.85) |
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) |
(%) |
4.41 |
2.52 |
(2102.50) |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
4.78 |
3.29 |
(2141.25) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
17.59 |
12.38 |
(3.29) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.62 |
0.63 |
(0.28) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.51 |
0.28 |
8.98 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.97 |
0.27 |
0.34 |
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 |
7.950 |
7.950 |
22.661 |
|
Reserves & Surplus |
0.011 |
13.664 |
198.209 |
|
Share Application money pending allotment |
0.000 |
0.000 |
38.999 |
|
Net
worth |
7.961 |
21.614 |
259.869 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
71.499 |
6.000 |
133.551 |
|
Total
borrowings |
71.499 |
6.000 |
133.551 |
|
Debt/Equity
ratio |
8.981 |
0.278 |
0.514 |
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 |
0.080 |
541.953 |
3614.514 |
|
|
|
677,341.250 |
566.942 |
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 |
0.080 |
541.953 |
3614.514 |
|
Profit |
(1.682) |
13.653 |
159.257 |
|
|
(2102.50%) |
2.52% |
4.41% |
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 |
Yes |
|
18 |
Major suppliers |
Yes |
|
19 |
Major customers |
Yes |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last 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 |
Yes |
|
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 |
NOTE: Registered office of the company has been shifted from 24, Hemant Basu, Saranimangalam A Suit, Kolkata – 700205, West Bengal, India to the present address w.e.f. 03.07.2013
UNSECURED LOAN
|
Unsecured Loan |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Short-term
borrowings |
|
|
|
Loans and advances from related parties |
0.000 |
6.000 |
|
|
|
|
|
Total |
0.000 |
6.000 |
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10549861 |
09/02/2015 * |
600,000,000.00 |
HDFC BANK LIMITED |
2ND FLOOR M-39, CONNAUGHT CIRCUS, OUTER CIRCLE, NEW DELHI, Delhi -
110001, INDIA |
C46406005 |
|
2 |
10496615 |
02/06/2014 * |
150,000,000.00 |
Punjab National Bank |
Pant Nagar, Udham Singh Nagar, Uttarakhand - 263145, INDIA |
C05307293 |
|
3 |
10496610 |
15/12/2014 * |
1,254,000,000.00 |
PUNJAB NATIONAL BANK |
GB PANTNAGAR UNIVERSITY BRANCH, DISTT UDHAM SINGH |
C46403523 |
FIXED ASSETS
- Land
- Buildings
- Plant and equipment
- Factory equipments
- plant and equipment
- Furniture and fixtures
- Office equipment
- Computer equipments
- Leasehold improvements
- Generator
- Plant and machinery
- Air Conditioner
- Electric equipment
- Measuring and Equipments
- Tools and Fixture
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.64.15 |
|
|
1 |
Rs.100.03 |
|
Euro |
1 |
Rs.72.27 |
INFORMATION DETAILS
|
Information
Gathered by : |
MNJ |
|
|
|
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
SUJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
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.