MIRA INFORM REPORT

 

 

Report No. :

328230

Report Date :

23.06.2015

 

IDENTIFICATION DETAILS

 

Name :

OC SPECIALTIES PRIVATE LIMITED

 

 

Registered Office :

205, The Chambers, Western Express Highway, Vile Parle (East), Mumbai - 400057, Maharashtra

Tel. No.:

91-22-40825200/26269200

 

 

Country :

India

 

 

Financials (as on) :

31.03.2013

 

 

Date of Incorporation :

19.01.2005

 

 

Com. Reg. No.:

11-150735

 

 

Capital Investment / Paid-up Capital :

Rs. 0.621 Million

 

 

CIN No.:

[Company Identification No.]

u24100mh2005ptc150735

 

 

IEC No.:

0305003364

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

aaaco7181p

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer, Exporter, Importer and Supplier of Industrial Chemicals.

 

 

No. of Employees :

125 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (31)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 250000

 

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is a private limited company incorporated in the year 2005, having moderate track.

 

As per registrar of companies the date of balance sheet (i.e. financial filed) is shown as 31.03.2014 but documents related to financial for the year ending 2014 is not available from any source.

 

As per available financial record of 2013, the company has taken huge external borrowing which acts as threatening to the liquidity position of the company.

 

However, trade relations are fair. Business is active. Payment terms are slow but correct.

 

The company can be considered for business dealings with some caution.

 

NOTES :

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

 

ECGC Country Risk Classification List – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

EXTERNAL AGENCY RATING

 

 

Rating Agency Name

Not Available

Rating

Not Available

Rating Explanation

Not Available

Date

Not Available

 

 

RBI DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

 

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2013.

 

INFORMATION PARTED BY (GENERAL DETAILS)

 

Name :

Ms. Trapti

Designation :

Accountant

Contact No.:

91-22-26267200

Date :

22.06.2015

 

 

LOCATIONS

 

Registered Office/Factory :

205, The Chambers, Western Express Highway, Vile Parle (East), Mumbai – 400 057, Maharashtra, India

Tel. No.:

91-22-40825200/ 26269200

Fax No.:

91-22-40825253

E-Mail :

contact@ocspl.com

rvjain@gmail.com

manish@ocspl.com

Area :

300 sq. ft.

Location :

Owned

Locality :

Commercial

 

 

Factory :

Located at:

 

Solapur, Maharashtra, India

 

 

DIRECTORS

 

As on 30.09.2014

 

Name :

Mr. Manish Mangilal Shah

Designation :

Managing Director    

Address :

B-1, Heaven, Opposite Meghalaya Flas, Naranpura, Ahmedabad – 380013, Gujarat, India

Date of Birth/Age :

15.03.1976

Date of Appointment :

19.01.2005

PAN No.:

ACJPS9795H

DIN No.:

00036482

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U24100MH2005PTC150735

OC SPECIALITIES PRIVATE LIMITED

Managing director

19/01/2005

19/01/2005

-

Active

NO

2

U24100GJ2008PTC053898

OSWAL CHEM (INDIA) PRIVATE LIMITED

Director

15/05/2008

15/05/2008

-

Active

NO

 

 

Name :

Mr. Vikas Mangilal Shah

Designation :

Director    

Address :

B-1, Heaven, Opposite Meghalaya Flas, Naranpura, Ahmedabad – 380013, Gujarat, India

Date of Birth/Age :

18.10.1981

Date of Appointment :

19.01.2005

PAN No.:

ABOPM4799H

DIN No.:

00036542

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U24100MH2005PTC150735

OC SPECIALITIES PRIVATE LIMITED

Director

19/01/2005

19/01/2005

-

Active

NO

2

U51434PN2006PTC128357

BALAJI SOURCINGS PRIVATE LIMITED

Whole-time director

15/03/2008

20/04/2006

-

Active

NO

 

 

Name :

Mr. Nitin Ganpati Kulkarni

Designation :

Director

Address :

204, Srishti Complex, Tara Tower, B Wing, Saki Vihar Road, Mumbai – 400078, Maharashtra, India

Date of Birth/Age :

09.06.1971

Date of Appointment :

30.09.2010

DIN No.:

03042587

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U24100MH2005PTC150735

OC SPECIALITIES PRIVATE LIMITED

Director

30/09/2010

03/06/2010

-

Active

NO

 

 

Name :

Mr. Vinod Sadanand Mulgaoankar

Designation :

Director

Address :

103-A-Wing, Mithila Apartment, J.B. Nagar, Andheri Kurla Road, Andheri (East), Mumbai – 400 059, Maharashtra, India

Date of Birth/Age :

31.08.1947

Date of Appointment :

30.09.2010

DIN No.:

03042723

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U24100MH2005PTC150735

OC SPECIALITIES PRIVATE LIMITED

Director

30/09/2010

03/06/2010

-

Active

NO

 

 

Name :

Mr. Nirav Virendrabhai Mehta

Designation :

Director

Address :

28, Netra Bungalow, Near Sourabh Society, Opposite Nilkanth – II, Drive in Road Mem Nagar, Ahmedabad – 380 013, Gujarat, India

Date of Birth/Age :

26.02.1992

Date of Appointment :

30.09.2010

DIN No.:

03042627

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U24100GJ2008PTC053898

OSWAL CHEM (INDIA) PRIVATE LIMITED

Director

01/06/2010

01/06/2010

-

Active

NO

2

U24100MH2005PTC150735

OC SPECIALITIES PRIVATE LIMITED

Director

30/09/2010

03/06/2010

-

Active

NO

 

 

Name :

Mr. Pushpak M. Shah

Designation :

Director    

Address :

27, Netra Bungalow, Near Mem Nagar Fire Station, Ahmedabad – 380 013, Gujarat, India

Date of Birth/Age :

12.04.1979

Date of Appointment :

19.01.2005

PAN No.:

ALWPS7666P

 

 

Name :

Mr. Virendra B. Mehta

Designation :

Director    

Address :

27, Netra Bungalow, Near Mem Nagar Fire Station, Ahmedabad – 380 013, Gujarat, India

Date of Birth/Age :

14.04.1961

Date of Appointment :

19.01.2005

 

 

KEY EXECUTIVES

 

Name :

Ms. Trapti

Designation :

Accountant

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 30.09.2014

 

Names of Shareholders

No. of Shares

%age holding

Manish Mangilal Shah

16000

34.78

Vikas Mangilal Shah

2500

5.43

Pushpak M. Shah

2500

5.43

Oswal Chemical, India

5

0.01

Virendra Mehta

25000

54.34

Ocean Chemicals, India

5

0.01

Total

46010

100.00

 

 

 

 

 

Equity Share Break up (Percentage of Total Equity)

 

As on 30.09.2014

 

Category

Percentage

Directors or relatives of Directors

100.00

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer, Exporter, Importer and Supplier of Industrial Chemicals.

 

 

Products :
  • Epichlorohydrin Compound
  • Oxychlorid,
  • Glue
  • Methanol
  • Shine Wax
  • Car Polish
  • Car Shiner
  • Bismuth Oxychloride
  • Zirconium Chemicals

 

 

Brand Names :

Not Divulged

 

 

Agencies Held :

Not Divulged

 

 

Exports :

 

Products :

Chemicals

Countries :
  • Singapore
  • Vietnam
  • Australia

 

 

Imports :

 

Products :

Raw Material

Countries :

China

 

 

Terms :

 

Selling :

Cash and Cheque

 

 

Purchasing :

Cash and Cheque

 

 

PRODUCTION STATUS NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :

Wholesalers, Retailers and End Users

 

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

125 (Approximately)

 

 

Bankers :

 

  • Axis Bank Limited - Ground Floor, Axis House, C-2, Wadia Industrial Centre, P.B. Marg, Worli, Mumbai – 400 025, Maharashtra, India
  • Citi Bank N. A - Citi Business, Citi Bank Center,2nd Floor, Bandra Kurla Complex, Bandra East, Mumbaai-400051, Maharashtra, India
  •  

Bank Name

Standard Chartered Bank

Branch

SME Credit, Crescenzo, 3A/F, Plot No.C-38 and 39, G Block, Bandra Krla Complex, Bandra (East), Mumbai – 400 051, Maharashtra, 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 Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

Facilities :

Secured Loan

31.03.2013

(Rs. in Million)

31.03.2012

(Rs. in Million)

Long-term Borrowings

 

 

Borrowing

173.331

82.427

Total

173.331

82.427

 

Auditors :

 

Name :

R.V. jain and Associates

Chartered Accountants

Address :

E-203, Nilambuj, Kamal Aprtments, Shankar lane, Kandivali (West), Mumbai – 400 067, Maharashtra, India

Tel. No.:

91-22-28613688

E-Mail :

rvjainca@gmail.com

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

AAHFR6526R

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associates/Subsidiaries :

Not Divulged

 

 

CAPITAL STRUCTURE

 

As on 30.09.2014

 

 

Authorised Capita: Rs.50.000 Million

 

Issued, Subscribed & Paid-up Capital: Rs.0.621 Million

 

 

As on 31.03.2013

 

Authorised Capital:

No. of Shares

Type

Value

Amount

 

 

 

 

5000000

Equity Shares

Rs.10/- each

Rs. 50.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

46010

Equity Shares

Rs.10/- each

Rs.0.460 Million

 

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

ABRIDGED BALANCE SHEET

 

 

SOURCES OF FUNDS

 

31.03.2013

31.03.2012

31.03.2011

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

0.460

0.460

0.460

(b) Reserves & Surplus

89.422

58.773

32.906

(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)

89.882

59.233

33.366

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

398.436

160.394

162.037

(b) Deferred tax liabilities (Net)

0.516

0.723

0.345

(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)

398.952

161.117

162.382

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

0.000

0.000

0.000

(b) Trade payables

445.709

232.256

167.989

(c) Other current liabilities

0.000

0.000

0.000

(d) Short-term provisions

25.500

17.100

7.900

Total Current Liabilities (4)

471.209

249.356

175.889

 

 

 

 

TOTAL

960.043

469.706

371.637

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

26.890

28.794

23.665

(ii) Intangible Assets

0.110

0.000

0.000

(iii) Capital work-in-progress

221.519

1.753

0.000

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

4.449

4.144

3.208

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

0.000

0.000

0.000

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

252.968

34.691

26.873

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

135.959

85.086

70.488

(c) Trade receivables

510.644

324.001

264.315

(d) Cash and cash equivalents

0.458

0.704

2.669

(e) Short-term loans and advances

0.000

0.000

0.000

(f) Other current assets

60.014

25.224

7.292

Total Current Assets

707.075

435.015

344.764

 

 

 

 

TOTAL

960.043

469.706

371.637

 

 

PROFIT & LOSS ACCOUNT

 

 

 

PARTICULARS

31.03.2013

31.03.2012

31.03.2011

 

SALES

 

 

 

 

 

TOTAL                                    

1981.005

1276.422

932.405

 

 

 

 

 

 

EXPENSES

 

 

 

 

 

TOTAL                                    

1947.341

1238.177

916.575

 

 

 

 

 

 

PROFIT BEFORE TAX

44.012

38.245

15.831

 

 

 

 

 

 

TAX                                                                 

13.364

12.378

5.427

 

 

 

 

 

 

PROFIT AFTER TAX                

30.648

25.867

10.403

 

 

 

 

 

 

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

52.653

26.786

16.382

 

 

 

 

 

 

BALANCE CARRIED TO THE B/S

83.301

52.653

26.786

 

 

 

 

 

 

Earnings Per Share (Rs)

66.61

56.22

22.61

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2013

31.03.2012

31.03.2011

Current Maturities of Long term debt

NA

NA

NA

Cash generated from operations

NA

NA

NA

 

 

 

 

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2013

31.03.2012

31.03.2011

Net Profit Margin

(PAT / Sales)

(%)

1.55

2.03

1.12

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

1.70

3.00

1.70

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

6.00

8.25

4.30

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.49

0.65

0.47

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

4.43

2.71

4.86

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.50

1.74

1.96

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

 

Particular

31.03.2011

31.03.2012

31.03.2013

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

0.460

0.460

0.460

Reserves & Surplus

32.906

58.773

89.422

Money received against share warrants

0.000

0.000

0.000

 Share Application money pending allotment

0.000

0.000

0.000

Net worth

33.366

59.233

89.882

 

 

 

 

long-term borrowings

162.037

160.394

398.436

Short term borrowings

0.000

0.000

0.000

Total borrowings

162.037

160.394

398.436

Debt/Equity ratio

4.856

2.708

4.433

 

 

 

 

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2011

31.03.2012

31.03.2013

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

932.405

1276.422

1981.005

 

 

36.896

55.200

 

 

 

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2011

31.03.2012

31.03.2013

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

932.405

1276.422

1981.005

Profit

10.403

25.867

30.648

 

1.12%

2.03%

1.55%

 

 

 

 

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

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)

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

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

 

NOTE: Registered office of the company has been shifted from 6/C, Saivishwakarma Darshanshivaji Chowk Koldongri Opposite Apna Bazar Vile Parle (East) Mumbai – 400057, Maharashtra, India to the present address w.e.f.  05.11.2010

 

UNSECURED LOAN

 

Unsecured Loan

31.03.2013

(Rs. in Million)

31.03.2012

(Rs. in Million)

Long-term Borrowings

 

 

Borrowing

225.105

77.967

Total

225.105

77.967

 

INDEX OF CHARGES

 

S.No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10536322

17/11/2014

8,460,811.52

Standard Chartered Bank

SME Credit, Crescenzo, 3A/F, Plot No. C 38 & 39, G Block, Bandra Kurla Complex, Bandra East, Mumbai, Maharashtra - 400051, INDIA

C36808467

2

10468610

06/12/2013

240,000,000.00

AXIS BANK LIMITED

Ground Floor, Axis House, C-2,, Wadia Industrial 
Centre, P. B. Marg, Worli,, Mumbai, Maharashtra - 
400025, India

B92897735

3

10430791

16/12/2013 *

240,000,000.00

AXIS BANK LIMITED

Ground Floor, Axis House, C-2,, Wadia Industrial 
Centre, P. B. Marg, Worli,, Mumbai, Maharashtra - 
400025, India

B93337111

4

10228758

12/01/2015 *

440,000,000.00

Standard Chartered Bank

SME Credit, Crescenzo, 3A/F, Plot no. C-38 & 39, 
G Block, Bandra Kurla Complex, Bandra East, Mumbai, Maharashtra - 400051, India

C42013771

 

 

 

FIXED ASSETS

 

·         Air Conditioner

·         Card Scanner

·         Computers

·         Electrical Appliances

·         Furniture and Fixtures

·         Motor Car

·         Motor Bike

·         Office Equipment’s

·         Telephone Systems

·         Lab Equipment’s

·         Office Building Premises-Chincholi

·         Office Renovation

 

 

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 records 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.63.50

UK Pound

1

Rs.100.93

Euro

1

Rs.72.31

 

 

INFORMATION DETAILS

 

Information Gathered by :

GYT

 

 

Analysis Done by :

KIN

 

 

Report Prepared by :

PJA

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

4

PAID-UP CAPITAL

1~10

3

OPERATING SCALE

1~10

4

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

3

--PROFITABILITY

1~10

4

--LIQUIDITY

1~10

3

--LEVERAGE

1~10

3

--RESERVES

1~10

4

--CREDIT LINES

1~10

3

--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

 

31

 

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.