MIRA INFORM REPORT
|
Report No. : |
314033 |
|
Report Date : |
25.03.2015 |
IDENTIFICATION DETAILS
|
Name : |
INTRA OCULAR
CARE PRIVATE LIMITED |
|
|
|
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Registered
Office : |
31-D, Sunil Shopping Centre, Opposite Navrang Cinema, J. P. Road,
Andheri (West), Mumbai – 400058, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
07.12.1989 |
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Com. Reg. No.: |
11-054536 |
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Capital
Investment / Paid-up Capital : |
Rs.99.683 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U23201MH1989PTC054536 |
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|
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TIN No.: |
24190302814 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMI06419A |
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PAN No.: [Permanent Account No.] |
AAACI4883L |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and marketer of contact lenses, lens care products, spectacle
lenses and other ophthalmic products. |
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No. of Employees
: |
500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established company having satisfactory track. Management gas failed to file latest financials of FY 2014, with the
statutory authorities. Mr. Vipan Sukhadev Duggal, the director provided information and
claimed that the management has reported and claimed that the management has
reported a decent revenue base from its operations during FY 2014 which is
not verified and has been provided for your mere reference. As per available, trade relations are fair. Business is active. Payment
terms are reported as usually correct. In view of long standing experience, 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
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
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Vipan Sukhadev Duggal |
|
Designation : |
Director |
|
Contact No.: |
91-22-32409908 |
|
Date : |
20.03.2015 |
LOCATIONS
|
Registered Office : |
31-D, Sunil Shopping Centre, Opposite Navrang Cinema, J. P. Road, Andheri
(West), Mumbai – 400058, Maharashtra, India |
|
Tel. No.: |
91-22-32409908/ 26776294 |
|
Fax No.: |
Not Available |
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E-Mail : |
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|
Website : |
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Location: |
Owned |
|
|
|
|
Corporate Office / Factory : |
Block No. 310, Village Sim of Dabasa, Taluka : Padra. District
Vadodara – 391 440, Gujarat, India |
|
Tel. No.: |
91-2662-325757,325272 |
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Fax No.: |
91-2662-244241 |
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E-Mail : |
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Export Oriented Unit 1 : |
Polymer Technologies International (EOU) Block No. 310, Village Sim of Dabhasa, Taluka: Padra, District Vadodara – 391 440, Gujarat, India |
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Tel. No.: |
91-2662-325757/325272 |
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Fax No.: |
91-2662-24424 |
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E-Mail : |
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Export Oriented Unit 2 : |
Contacare Ophthalmics and Diagnostics (EOU) Block No. 310, Village Sim of Dabhasa, Taluka: Padra,
District Vadodara – 391 440, Gujarat, India |
|
Tel. No.: |
91-2662-325757/325272 |
|
Fax No.: |
91-2662-244241 |
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E-Mail : |
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Branch Offices : |
Located at :
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DIRECTORS
As on 24.09.2012
|
Name : |
Mr. Jagrat Natvar Dave |
|
Designation : |
Director |
|
Address : |
310 Sim of Dabhasa Near Gaushala, Dabhasa, Vadodara - 390015, |
|
Date of Birth/Age : |
27.01.1952 |
|
Date of Appointment : |
07.12.1989 |
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PAN No. : |
AAIPD2742C |
|
DIN No.: |
01419504 |
|
|
|
|
Name : |
Mr. Iyer Venkatrangan Anantaraman |
|
Designation : |
Director |
|
Address : |
2 Kishan Bunglows Near Iyppa Temple, Gotri Road, Vadodara – 390021,
Gujarat, India |
|
Date of Birth/Age : |
12.12.1965 |
|
Date of Appointment : |
27.10.2001 |
|
PAN No. : |
ABQPV2545Q |
|
DIN No.: |
01361650 |
|
|
|
|
Name : |
Mr. Vipan Sukhadev Duggal |
|
Designation : |
Director |
|
Address : |
540 – Pocket Established, Mayur Vihar – Phase, |
|
Date of Birth/Age : |
10.04.1964 |
|
Date of Appointment : |
26.05.2005 |
|
PAN No. : |
ACJPD5572D |
|
DIN No.: |
01606776 |
|
|
|
|
Name : |
Mrs. Purnima Jagrat Dave |
|
Designation : |
Director |
|
Address : |
310 Sim of Dabhasa Near Gaushala, Dabhasa, Vadodara - 390015, Gujarat,
India |
|
Date of Birth/Age : |
23.02.1973 |
|
Date of Appointment : |
19.11.2009 |
|
PAN No. : |
AHGPC9058F |
|
DIN No.: |
02232493 |
MAJOR SHAREHOLDERS
As on 24.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Jagarat Dave |
|
9898670 |
|
Sudhir Nambiar |
|
38000 |
|
A Venkatarangan Iyer |
|
2500 |
|
Satish Nambiar |
|
2500 |
|
Rajesh Sachi |
|
1000 |
|
Vipan Duggal |
|
20000 |
|
Purnima Dave |
|
5630 |
|
Total |
|
9968300 |
Equity Share Break up (Percentage of Total Equity)
As on 24.09.2012
|
Category |
Percentage |
|
Bodies corporate |
99.58 |
|
Others |
0.42 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and marketer of contact lenses, lens care products,
spectacle lenses and other ophthalmic products. |
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Products : |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
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Products : |
Contact Lenses |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
500 (Approximately) |
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Bankers : |
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Facilities : |
Cash Credit = Rs.20.000 Million (From Axis Bank Limited)
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Auditors : |
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|
Name : |
Parikh and Majmudar Chartered Accountants |
|
Address : |
204-5-6, Harsh Avenue, |
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Tel No.: |
91-79-27540454 / 27540860 |
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Fax No.: |
91-79-27542628 |
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Email : |
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PAN
No. : |
AAAFP8921B |
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Memberships : |
-- |
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Collaborators : |
-- |
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Associates (As on 31.03.2013) : |
CIN No. U24230MH1997PTC108029
|
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9968300 |
Equity Shares |
Rs.10/- each |
Rs.99.683 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 |
99.683 |
99.683 |
99.683 |
|
(b) Reserves & Surplus |
808.733 |
627.234 |
511.723 |
|
(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) |
908.416 |
726.917 |
611.406 |
|
|
|
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(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
7.932 |
2.616 |
12.269 |
|
(b) Deferred tax liabilities (Net) |
31.136 |
32.214 |
37.199 |
|
(c) Other long term
liabilities |
20.328 |
17.248 |
7.020 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities
(3) |
59.396 |
52.078 |
56.488 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
53.933 |
68.179 |
80.854 |
|
(b) Trade
payables |
92.947 |
141.772 |
97.993 |
|
(c) Other
current liabilities |
78.448 |
56.963 |
45.732 |
|
(d) Short-term
provisions |
1.360 |
1.336 |
1.798 |
|
Total Current
Liabilities (4) |
226.688 |
268.250 |
226.377 |
|
|
|
|
|
|
TOTAL |
1,194.500 |
1,047.245 |
894.271 |
|
|
|
|
|
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II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
397.079 |
369.844 |
305.609 |
|
(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 |
4.581 |
4.581 |
4.581 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
7.193 |
7.472 |
5.875 |
|
(e) Other
Non-current assets |
15.091 |
12.969 |
33.960 |
|
Total Non-Current
Assets |
423.944 |
394.866 |
350.025 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
53.133 |
57.266 |
69.236 |
|
(c) Trade
receivables |
592.687 |
491.087 |
394.869 |
|
(d) Cash
and cash equivalents |
5.301 |
8.654 |
6.484 |
|
(e)
Short-term loans and advances |
119.435 |
95.372 |
73.657 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
770.556 |
652.379 |
544.246 |
|
|
|
|
|
|
TOTAL |
1,194.500 |
1,047.245 |
894.271 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
905.045 |
882.183 |
599.973 |
|
|
|
|
Other Income |
NA |
NA |
NA |
|
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|
|
TOTAL |
NA |
NA |
NA |
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||
|
Less |
EXPENSES |
NA |
NA |
NA |
||
|
|
|
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||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
318.675 |
210.377 |
131.877 |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/
AMORTISATION |
45.244 |
40.789 |
35.265 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX |
273.431 |
169.588 |
96.612 |
||
|
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||
|
Less |
TAX |
91.146 |
50.562 |
43.968 |
||
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||
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|
PROFIT/(LOSS)
AFTER TAX |
182.285 |
119.026 |
52.644 |
||
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||
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|
PRIOR PERIOD
ADJUSTMENT |
0.786 |
3.515 |
0.104 |
||
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||
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
552.173 |
446.662 |
404.123 |
||
|
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||
|
Less |
APPROPRIATIONS |
|
|
|
||
|
|
|
Transfer to General Reserve |
10.000 |
10.000 |
10.000 |
|
|
|
BALANCE CARRIED
TO THE B/S |
723.672 |
552.173 |
446.662 |
||
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EARNINGS IN
FOREIGN CURRENCY |
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||
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|
FOB Value of exports |
0.845 |
0.705 |
9.914 |
|
|
|
|
Commission received in Foreign Currency |
0.738 |
3.905 |
2.141 |
|
|
|
TOTAL EARNINGS |
1.583 |
4.610 |
12.055 |
||
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IMPORTS |
|
|
|
||
|
|
|
Raw Materials/Consumable/Packing |
0.000 |
0.000 |
0.787 |
|
|
|
|
Trading Goods |
170.607 |
275.611 |
134.277 |
|
|
|
TOTAL IMPORTS |
170.607 |
275.611 |
135.064 |
||
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|
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||
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|
Earnings /
(Loss) Per Share (Rs.) |
18.21 |
11.59 |
5.27 |
||
Expected Sales (2014-2015): Rs.1000.000 Million
The above information has been parted by Mr. Vipan Sukhadev Duggal
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PAT/Sales) |
(%) |
20.14 |
13.49 |
8.77 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
22.98 |
16.26 |
10.86 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.30 |
0.23 |
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.07 |
0.10 |
0.15 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.40 |
2.43 |
2.40 |
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 |
99.683 |
99.683 |
99.683 |
|
Reserves & Surplus |
511.723 |
627.234 |
808.733 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
611.406 |
726.917 |
908.416 |
|
|
|
|
|
|
Long Term borrowings |
12.269 |
2.616 |
7.932 |
|
Short Term borrowings |
80.854 |
68.179 |
53.933 |
|
Total
borrowings |
93.123 |
70.795 |
61.865 |
|
Debt/Equity
ratio |
0.152 |
0.097 |
0.068 |
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 |
599.973 |
882.183 |
905.045 |
|
|
|
47.037 |
2.592 |
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
|
599.973 |
882.183 |
905.045 |
|
Profit |
52.644 |
119.026 |
182.285 |
|
|
8.77% |
13.49% |
20.14% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
Rs.
In Million
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Current maturities of long term debt |
5.229 |
2.406 |
NA |
|
Total |
5.229 |
2.406 |
NA |
|
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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----------- |
|
14] |
Estimation for coming
financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
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 |
No |
|
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 |
No |
UNSECURED LOANS:
|
Particulars |
31.03.2013 Rs. In Million |
31.03.2012 Rs. In Million |
|
SHORT TERM BORROWINGS |
|
|
|
Loans repayable on demand from others |
0.144 |
6.553 |
|
Total |
0.144 |
6.553 |
REVIEW OF
OPERATIONS (AS ON 31.03.2013)
The company has achieved turnover of Rs.905.000 Million for the year ending on 31.03.2013. The net profit of the company after tax is Rs.182.200 Million. The company has achieved an overall increase in sales to the tune of 2.59 % over last year turnover. It would bright to mention here and place on record that the current management has taken necessary
In view of the expansion programme as well as to strengthen the working capital requirement of the company, your directors wish to plough back the profit of the company and therefore do not recommend any dividend for the year.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10463456 |
01/11/2013 |
20,000,000.00 |
Axis Bank Limited |
Vardhaman Complex,, Opp Geb, Race Course, Vadodara, Gujarat - 390007, India |
B90829979 |
|
2 |
10313795 |
03/01/2007 |
28,069,000.00 |
Bank Of Baroda |
Ibb Baroda, Vadodara, Gujarat - 390001, India |
A33925090 |
|
3 |
10318664 |
03/01/2007 |
59,678,000.00 |
Bank Of Baroda |
Ibb Baroda, Vadodara, Gujarat - 390001, India |
A33924226 |
|
4 |
10026555 |
07/03/2008 * |
250,000,000.00 |
Axis Bank Limited |
Trishul Opp Samartheshwar Temple, Law Garden Road, Ahmedabad, Gujarat - 380006, India |
A49428329 |
|
5 |
10018704 |
14/07/2006 |
165,000,000.00 |
Uti Bank Limited |
Trishul Opp Samatheshwar Temple Law Garden Road, Ahemadabad, Ahemadabad, Gujarat - 380006, India |
A02821304 |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture 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 records 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.62.20 |
|
|
1 |
Rs.92.93 |
|
Euro |
1 |
Rs.68.03 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
0 |
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
44 |
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.