MIRA INFORM REPORT

 

 

Report No. :

349055

Report Date :

09.11.2015

 

IDENTIFICATION DETAILS

 

Name :

FUTECH PROJECTS (INDIA) PRIVATE LIMITED

 

 

Registered Office :

105, Pocket J, Shopping Centre,  Sarita Vihar, New Delhi - 110076

Tel. No.:

91-11-26942613

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

15.06.1993

 

 

Com. Reg. No.:

55-054050

 

 

Capital Investment / Paid-up Capital :

Rs.7.204 Million

 

 

CIN No.:

[Company Identification No.]

U74140DL1993PTC054050

 

 

IEC No.:

Not Divulged

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

Not Available

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Subject provides turnkey solutions to the industries in field for firefighting systems, utilities, piping, material handling etc.

 

 

No. of Employees :

75 (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

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company incorporated in the year 1993. It has moderate track.

 

The rating takes into consideration moderate financial risk profile of the company marked by modest networth base and continuous declining profitability since last few couple of years. It has reported thin profit margin in FY14.

 

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

 

In view of aforesaid, 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

CRISIL

Rating

Long term rating : B+

Rating Explanation

Risk prone credit quality and carries very high credit risk.

Date

08.09.2015

 

Rating Agency Name

CRISIL

Rating

Short term rating : A4

Rating Explanation

Minimal degree of safety and very high credit risk.

Date

08.09.2015

 

 

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 31-03-2015.

 

 

INFORMATION PARTED BY

 

Name :

Mr. Abhishek

Designation :

Finance Manager

Contact No.:

91-11-26942613

Date :

07.11.2015

 

 

LOCATIONS

 

Registered Office :

105, Pocket J, Shopping Centre,  Sarita Vihar, New Delhi – 110076, India 

Tel. No.:

91-11-26942613 / 2694 0429 

Fax No.:

91-11-2694 0429 / 26942613

E-Mail :

projects@futechgroup.com

design@futechgroup.com  

firecon@futechgroup.com 

ap.sabhra@futechgroup.com   

Website :

http://www.futechgroup.com

 

 

Corporate Office :

C-28, Sector-65, Noida - 201 301, Uttar Pradesh, India

Tel. No.:

91-120-465 5900

Fax No.:

91-120-465 5901 

 

 

DIRECTORS

 

AS ON 30.09.2014

 

Name :

Mr. Shahid Syed Ahmad

Designation :

Director

Address :

C - 79, Sarita Vihar, New Delhi - 110076, India

Date of Birth/Age :

01.11.1955

Date of Appointment :

20.07.1994

DIN No.:

00382956

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

U74140DL1993PTC054050

FUTECH PROJECTS (INDIA) PRIVATE LIMITED

Director

15/06/1993

15/06/1993

-

Active

NO

2

U74899DL1994PTC060341

FUTECH CONSULTANTS PVT LTD

Director

20/07/1994

20/07/1994

-

Active

NO

3

U29197DL1998PTC095737

ZEETECH SYSTEMS PRIVATE LIMITED

Director

25/08/1998

25/08/1998

01/05/2010

Active

NO

4

U40105DL2005PTC133409

ALLIED ENERGY SYSTEMS PRIVATE LIMITED

Director

25/02/2005

25/02/2005

-

Active

NO

5

U70109DL2006PTC155875

Altech Infrastructure Private Limited

Director

23/11/2006

23/11/2006

30/06/2009

Active

NO

6

U74900DL2009PTC189610

SFS FIRE & SECURITY PRIVATE LIMITED

Director

22/04/2009

22/04/2009

31/01/2014

Active

NO

 

 

Name :

Kasturi Lal Narsimhan

Designation :

Director

Address :

C 87 Sector 40, P S Sector 39, Gautam Budh Nagar - 201301, Uttar Pradesh, India

Date of Birth/Age :

01.01.1953

Date of Appointment :

15.06.1993

DIN No.:

01846145

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

U74140DL1993PTC054050

FUTECH PROJECTS (INDIA) PRIVATE LIMITED

Director

15/06/1993

15/06/1993

-

Active

NO

2

U74899DL1994PTC060341

FUTECH CONSULTANTS PVT LTD

Director

20/07/1994

20/07/1994

-

Active

NO

3

U29197DL1998PTC095737

ZEETECH SYSTEMS PRIVATE LIMITED

Director

30/06/2001

30/06/2001

01/05/2010

Active

NO

4

U40105DL2005PTC133409

ALLIED ENERGY SYSTEMS PRIVATE LIMITED

Director

25/02/2005

25/02/2005

-

Active

NO

5

U70109DL2006PTC155875

Altech Infrastructure Private Limited

Director

23/11/2006

23/11/2006

30/06/2009

Active

NO

 

 

 

 

KEY EXECUTIVES

 

Name :

Mr. Abhishek

Designation :

Finance Manager

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2014

 

Names of Shareholders

No. of Shares

%age holding

Shahid Syed Ahmad

322447

44.76

Kasturi Lal Narsimhan

286447

39.76

Zeba Shahid

37500

5.21

Srilini Narsimhan

74000

10.27

Total

720394

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 :

Subject provides turnkey solutions to the industries in field for firefighting systems, utilities, piping, material handling etc.

 

 

Products :

Not Available

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

 

Products :

Finished Goods

Countries :
  • Nepal
  • Indonesia

 

 

Imports :

 

Products :

Raw Material

Countries :
  • USA
  • Dubai
  • UAE

 

 

Terms :

 

Selling :

Credit

 

 

Purchasing :

Credit

 

PRODUCTION STATUS : NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Jindal Stainless Limited

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 :

Reference :

ITC Limited, Kolkata

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

 

End Users and OEMs

 

 

No. of Employees :

75 (Approximately)

 

 

Bankers :

Bank Name

The Karur Vysya Bank Limited

Branch

882, East Park Road, Karol Bagh, New Delhi - 110005, 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

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

Long-term Borrowings

 

 

Vehicle loans from banks – repayable in monthly installments till the term loans is completed

[There is no default, continuing or otherwise, as at the balance sheet date, in repayment of any of the above loans and interest thereon]

0.647

0.942

Short-term borrowings

 

 

Loans repayable on demand

 

 

Working capital loans repayable on demand from the krur vysya bank limited (secured by immovable property of the company situated at 105 and 106 shopping Centre, Pocket – J, Sarita Vihar New Delhi and secured by residential immovable property of both the directors situated at Plot No.87, Block C, Sector – 40, Noida, Flat No.C-79, first floor, SFS flats, Sarita Viahr and Commercial plot at C-78, Sector – 65, Noida)

21.156

19.682

Term loan repayable within 12 months

0.599

0.883

LC discounting – Karur Vysya Bank

11.945

2.249

Total

34.347

23.756

 

Auditors :

 

Name :

P K Gaur and Associates

Chartered Accountants

Address :

Suite#4G Uppal's, M-6 Plaza, Jasola District Centre, New Delhi – 110025, India

PAN No.:

AAAFP9078M

Tel. No.:

91-11-40528391-97

Fax No.:

91-11-40528398

Email :

pkgassociate@rediffmail.com

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Group Companies

(Confirmed by indirect source):
  • Allied Energy Systems Private Limited
  • Firecon Services
  • Altech Infrastructure (India) Private Limited

 

 

Associates :

Futech Consultants Private Limited

 

 

CAPITAL STRUCTURE

 

AS ON 30.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1,000,000

Equity Shares

Rs.10/- each

Rs.10.000 Million

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

720,394

Equity Shares

Rs.10/- each

Rs.7.204 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

7.204

7.204

6.749

(b) Reserves & Surplus

44.154

42.958

36.054

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

0.000

0.100

0.000

Total Shareholders’ Funds (1) + (2)

51.358

50.262

42.803

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

0.647

0.942

1.824

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long term liabilities

0.540

0.540

0.540

(d) long-term provisions

1.629

2.085

1.993

Total Non-current Liabilities (3)

2.816

3.567

4.357

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

34.654

24.738

11.207

(b) Trade payables

81.798

58.673

54.544

(c) Other current liabilities

12.862

8.533

6.381

(d) Short-term provisions

0.350

1.986

2.645

Total Current Liabilities (4)

129.664

93.930

74.777

 

 

 

 

TOTAL

183.838

147.759

121.937

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

14.712

15.916

16.239

(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

0.500

0.500

0.500

(c) Deferred tax assets (net)

0.763

1.017

0.932

(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

15.975

17.433

17.671

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

11.829

5.014

5.650

(c) Trade receivables

119.908

87.951

69.273

(d) Cash and cash equivalents

17.785

16.364

12.276

(e) Short-term loans and advances

8.036

11.823

10.865

(f) Other current assets

10.305

9.174

6.202

Total Current Assets

167.863

130.326

104.266

 

 

 

 

TOTAL

183.838

147.759

121.937

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

262.246

217.729

203.979

 

Other Income

4.039

3.200

2.606

 

TOTAL

266.285

220.929

206.585

 

 

 

 

 

Less

EXPENSES

 

 

 

 

TOTAL

259.754

217.969

195.884

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

6.531

2.960

10.701

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

1.470

1.160

1.588

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

5.061

1.800

9.113

 

 

 

 

 

Less

TAX

3.865

(2.829)

3.483

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

1.196

4.629

5.630

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

F.O.B. Value of Exports

24.759

1.052

16.572

 

TOTAL EARNINGS

24.759

1.052

16.572

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

 1.66

6.43

NA

 

 

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

Net cash flow from (used in) operations

NA

NA

NA

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

0.46

2.13

2.76

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

2.77

1.23

7.56

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.10

0.04

0.21

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

0.69

0.51

0.30

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.29

1.39

1.39

 

 

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

6.749

7.204

7.204

Reserves & Surplus

36.054

42.958

44.154

Share Application money pending allotment

0.000

0.100

0.000

Net worth

42.803

50.262

51.358

 

 

 

 

long-term borrowings

1.824

0.942

0.647

Short term borrowings

11.207

24.738

34.654

Total borrowings

13.031

25.680

35.301

Debt/Equity ratio

0.304

0.511

0.687

 

 

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

203.979

217.729

262.246

 

 

6.741

20.446

 

 

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

203.979

217.729

262.246

Profit

5.630

4.629

1.196

 

2.76%

2.13%

0.46%

 

 

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

 

UNSECURED LOAN

 

PARTICULARS

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

Short-term borrowings

 

 

Loans and advances from related parties

 

 

Loan from standard Chartered Bank

0.954

1.924

Total

0.954

1.924

 

INDEX OF charges

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10501803

16/05/2014

600,000.00

THE KARUR VYSYA BANK LTD.

KAROL BAGH, NEW DELHI, DELHI - 110005, INDIA

C06035943

2

10335199

17/12/2011

388,000.00

THE KARUR VYSYA BANK LTD.

882, EAST PARK ROAD,, KAROL BAGH,, NEW DELHI, DEL 
HI - 110005, INDIA

B31964950

3

10318904

24/01/2013 *

165,000,000.00

THE KARUR VYSYA BANK LTD.

CENTRAL PROCESSING CELL (LOANS), 65/7, 1ST FLOOR, 
, NEW ROHTAK ROAD,, NEW DELHI, DELHI - 110005, IN 
DIA

B67617118

4

10288058

04/05/2011

450,000.00

THE KARUR VYSYA BANK LTD.

882, EAST PARK ROAD, KAROL BAGH, NEW DELHI, DELHI 
- 110005, INDIA

B13405113

5

10092938

24/01/2013 *

165,000,000.00

THE KARUR VYSYA BANK LTD.

CENTRAL PROCESSING CELL (LOANS), 65/7, 1ST FLOOR, 
, NEW ROHTAK ROAD,, NEW DELHI, DELHI - 110005, IN 
DIA

B67616441

6

10062465

05/07/2007

1,700,000.00

THE KARUR VYSYA BANK LTD.

KAROL BAGH, NEW DELHI, DELHI - 110005, INDIA

A20282331

7

10043768

14/03/2007

283,000.00

THE KARUR VYSYA BANK LTD.

KAROL BAGH, NEW DELHI, DELHI - 110005, INDIA

A13067947

8

10043769

14/03/2007

232,000.00

THE KARUR VYSYA BANK LTD.

KAROL BAGH, NEW DELHI, DELHI - 110005, INDIA

A13068903

9

10017236

19/08/2006

6,200,000.00

THE KARUR VYSYA BANK LIMITED KAROL BAGH BRANCH

882 EAST PARK ROAD, KAROL BAGH, DELHI, DELHI - 11 
0005, INDIA

A03882966

10

10018921

07/08/2006

185,000.00

THE KARUR VYSYA BANK LIMITED

882, EAST PARK ROAD, KAROL BAGH, NEW DELHI, DELHI 
- 110008, INDIA

A03714946

 

* Date of charge modification

 

FIXED ASSETS

 

  • Air Conditioner
  • Fans
  • Furniture and Fixtures
  • Car
  • Motor Cycle
  • Mobile Instruments
  • Fax Machine
  • Digital Copier
  • Cycle
  • Plant and Machinery
  • Re-Production Machines
  • Office Equipment
  • Land and Building
  • Generators
  • Electrical Fitting

 

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.65.79

UK Pound

1

Rs.99.95

Euro

1

Rs.71.55

 

 

INFORMATION DETAILS

 

Information Gathered by :

SUPR

 

 

Analysis Done by :

KIN

 

 

Report Prepared by :

SNT

 

 

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

4

--PROFITABILITY

1~10

3

--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

YES

--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.