MIRA INFORM REPORT
|
Report No. : |
312887 |
|
Report Date : |
17.03.2015 |
IDENTIFICATION DETAILS
|
Name : |
BALMUKUND CHEMICALS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
505, Narsinh Natha Street, Mumbai – 400009, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
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|
|
|
Date of
Incorporation : |
05.07.2004 |
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|
|
|
Com. Reg. No.: |
11-147318 |
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|
|
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Capital Investment
/ Paid-up Capital : |
Rs. 91.014 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24100MH2004PTC147318 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMB15678F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCB4225B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Trader, Exporter and Importer of Chemicals. |
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|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
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 |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. General financial position of the company seems to be sound and
healthy. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered for business dealings at usual trade
terms and 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
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating = BBB |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
January 14, 2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = A3+ |
|
Rating Explanation |
Moderate degree of safety and high credit risk. |
|
Date |
January 14, 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
31-03-2014.
INFORMATION DECLINED BY
|
Name : |
Mr. Kamlesh Pandey |
|
Designation : |
Accountant |
|
Contact No.: |
91-22-49339999 |
|
Date : |
16.03.2015 |
LOCATIONS
|
Registered Office : |
505, Narsinh Natha Street, Mumbai – 400009, Maharashtra, India |
|
Tel. No.: |
91-22-65092760/ 23452629/ 49339902 |
|
Fax No.: |
91-22-23472629/ 49339900 |
|
E-Mail : |
joseph.sales@balmukundgroup.com prakash.rawal@balmukundgroup.com
|
|
Website : |
|
|
|
|
|
Head Office : |
Crescent Towers, 229, AJC Bose Road, Kolkata – 700020, West Bengal,
India |
|
Tel. No.: |
91-33-22834327 |
|
Fax No.: |
91-33-22830428 |
|
|
|
|
Corporate Office : |
Bajaj Bhavan, 91-92 Nariman Point, 9th Floor, Opposite Inox
Mall, Mumbai – 400021, Maharashtra, India |
|
Tel. No.: |
91-22-23452629/ 23462629 |
|
Fax No.: |
91-22-23472629 |
|
E-Mail : |
DIRECTORS
AS ON 26.09.2014
|
Name : |
Mr. Alok Agarwaol |
|
Designation : |
Director |
|
Address : |
9, Hungerford Street, Flat 1D, Kolkata – 700017, West Bengal, India |
|
Date of Birth/Age : |
19.11.1970 |
|
Date of Appointment : |
05.07.2004 |
|
PAN No.: |
AGSPA0659B |
|
DIN No.: |
01956365 |
|
|
|
|
Name : |
Mrs. Poonam Agarwaol |
|
Designation : |
Director |
|
Address : |
229, AJC Bose Road, Aarya Industrial Private Limited, Flat GA1, Crescent
Towers, L.L. Rai SA, Kolkata – 700020, West Bengal, India |
|
Date of Birth/Age : |
11.10.1975 |
|
Date of Appointment : |
05.07.2004 |
|
PAN No.: |
AGRPA8145P |
|
DIN No.: |
01956427 |
KEY EXECUTIVES
|
Name : |
Mr. Kamlesh Pande |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 26.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Aarya Industrial Products Private Limited, India |
|
3970000 |
|
Alok Agarwaol |
|
2366510 |
|
Poonam Agarwaol |
|
2468936 |
|
Aaryaman Agarwoal |
|
15660 |
|
Asterisk Prints Private Limited, India |
|
230000 |
|
Rajesh Khetan |
|
50000 |
|
Shushila Kanodia |
|
250 |
|
|
|
|
|
Total |
|
9101356 |
AS ON 26.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Bodies
corporate |
46.15 |
|
Directors
or relatives of directors |
53.85 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader, Exporter and Importer of Chemicals. |
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|
Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
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Products : |
-- |
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Countries : |
-- |
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Imports : |
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Products : |
-- |
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Countries : |
-- |
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|
|
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Terms : |
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Selling : |
-- |
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Purchasing : |
-- |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
· State Bank of India (Lead Bank) SME Branch, New Alipore, Daffodil Building, 1st Floor, 63, Nalini Ranjan Avenue, Block-G, Kolkata - 700053, West Bengal, India · HDFC Bank Limited HDFC Bank House, Senapati Bapat Marg, Lower Parel [West],
Mumbai - 400013, Maharashtra, India |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
N.G. Jain and Company Chartered Accountants |
|
Address : |
320, Hammersmith Industrial Premises Cooperative Society
Limited, Narayan Pathare Marg, Off Sitladevi Temple Road, Mahim (West),
Mumbai – 400016, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAEFN6344G |
|
|
|
|
Group Concern : |
Arya Industrial Products Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9,110,000 |
Equity Shares |
Rs. 10/- each |
Rs. 91.100 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9,101,356 |
Equity Shares |
Rs. 10/- each |
Rs. 91.014 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
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 |
91.014 |
59.014 |
42.937 |
|
(b) Reserves & Surplus |
659.244 |
417.108 |
228.158 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
0.000 |
200.000 |
160.789 |
|
Total
Shareholders’ Funds (1) + (2) |
750.258 |
676.122 |
431.884 |
|
|
|
|
|
|
(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 |
204.485 |
|
(b)
Trade payables |
997.437 |
919.860 |
508.394 |
|
(c)
Other current liabilities |
448.703 |
226.841 |
5.085 |
|
(d)
Short-term provisions |
34.796 |
48.138 |
29.177 |
|
Total
Current Liabilities (4) |
1480.936 |
1194.839 |
747.141 |
|
|
|
|
|
|
TOTAL |
2231.194 |
1870.961 |
1179.025 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
123.494 |
123.749 |
120.353 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
27.760 |
27.760 |
27.700 |
|
(c) Deferred tax assets
(net) |
0.132 |
0.050 |
0.006 |
|
(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 |
151.386 |
151.559 |
148.059 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
578.740 |
446.783 |
236.748 |
|
(c)
Trade receivables |
1200.427 |
1071.441 |
649.033 |
|
(d)
Cash and cash equivalents |
204.326 |
92.844 |
73.827 |
|
(e)
Short-term loans and advances |
89.404 |
95.364 |
63.060 |
|
(f)
Other current assets |
6.911 |
12.970 |
8.298 |
|
Total
Current Assets |
2079.808 |
1719.402 |
1030.966 |
|
|
|
|
|
|
TOTAL |
2231.194 |
1870.961 |
1179.025 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
4461.328 |
3251.936 |
|
|
|
Other Income |
|
NA |
NA |
|
|
|
TOTAL |
NA
|
NA
|
NA
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
|
|
NA
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
[Including
Depreciation Expenses] |
[Including
Depreciation Expenses] |
60.203 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
|
0.375 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
NA |
NA |
59.828 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
NA |
16.006 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
74.137 |
44.261 |
43.822 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
8.15 |
7.50 |
10.21 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
NA
|
0.99
|
1.35 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
NA
|
5.20 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
NA
|
0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00 |
0.00 |
0.47 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.40 |
1.44 |
1.38 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particulars |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
42.937 |
59.014 |
91.014 |
|
Reserves & Surplus |
228.158 |
417.108 |
659.244 |
|
Share Application money pending allotment |
160.789 |
200.000 |
0.000 |
|
Net
worth |
431.884 |
676.122 |
750.258 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
204.485 |
0.000 |
0.000 |
|
Total
borrowings |
204.485 |
0.000 |
0.000 |
|
Debt/Equity ratio |
0.473 |
0.000 |
0.000 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
two years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming financial
year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
CURRENT MATURITIES
OF LONG TERM DEBT: NOT AVAILABLE
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10426952 |
25/04/2013 * |
1,684,000,000.00 |
STATE BANK OF INDIA (LEAD BANK) |
SME BRANCH, NEW ALIPORE, DAFFODIL BUILDING, 1ST FLOOR, 63, NALINI RANJAN AVENUE, BLOCK-G,, KOLKATA, WEST BENGAL - 700053, INDIA |
B87544433 |
|
2 |
10286778 |
03/05/2011 |
640,000,000.00 |
STATE BANK OF INDIA |
SME BRANCH, NEW ALIPORE, DAFFODIL BUILDING, 1ST FLOOR, 63, NALINI RANJAN AVENUE, BLOCK-G,, KOLKATA, WEST BENGAL - 700053, INDIA |
B12740767 |
|
3 |
10179779 |
28/03/2012 * |
674,000,000.00 |
STATE BANK OF INDIA |
SME BRANCH, NEW ALIPORE, DAFFODIL BUILDING, 1ST FLOOR, 63, NALINI RANJAN AVENUE, BLOCK-G,, KOLKATA, WEST BENGAL - 700053, INDIA |
B38544367 |
|
4 |
10088970 |
23/09/2009 * |
215,000,000.00 |
STATE BANK OF INDIA |
SME BRANCH, NEW ALIPORE, DAFFODIL BUILDING, 1ST FLOOR, 63, NALINI RANJAN AVENUE, BLOCK-G,, KOLKATA, WEST BENGAL - 700053, INDIA |
A70550827 |
|
5 |
10088969 |
28/12/2007 |
82,500,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, N. S. ROAD, 8, N. S. ROAD, KOLKATA, WEST BENGAL - 700001, INDIA |
A33013236 |
* Date of charge modification
FIXED ASSETS:
· Land
· Buildings
· Other building
· Plant and equipment
· Other plant and equipment
· Furniture and fixtures
· Vehicles
· Motor vehicles
· Office equipment
· Computer equipments
· Other equipments
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. 62.82 |
|
|
1 |
Rs. 92.83 |
|
Euro |
1 |
Rs. 66.17 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
BVA |
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 |
5 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
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 |
|
47 |
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.