MIRA INFORM REPORT
|
Report No. : |
349345 |
|
Report Date : |
25.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
|
|
|
|
|
Registered
Office : |
Type-II, No. 8, Industrial Estate, Khapuria, |
|
Tel. No.: |
91-671-2344538/ 671-2341321 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
31.03.1997 |
|
|
|
|
Com. Reg. No.: |
15-004861 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.47.589 million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15495OR1997PLC004861 |
|
|
|
|
IEC No.: |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACO9728L |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
|
Line of Business
: |
Subject engaged in manufacturing and exporting of spices, vermicelli and pasta products |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
A (60) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 2300000 |
|
|
|
|
Status : |
Good |
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|
|
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Subject was established in the year 1997 and it is engaged in
manufacturing and exporting of spices, vermicelli and pasta products. Its
products include cumin powder, coriander powder, chilli powder turmeric
powder and Kashmiri chilli powder. For the financial year ended 2014, company has reported 16% sales
turnover growth as compared to previous sales turnover and it has maintained
average profitability margins at 4.94% during the year under a review. Rating takes into consideration company’s healthy operating
efficiencies supported by its satisfactory financial profile along with
adequate net worth base and sound debt coverage indicators. Rating also takes into consideration company’s well established track
record of business operations and extensive industry experience of promoters. However, rating strength is partially offset susceptibility to
fluctuation in raw material prices as well as forex movement imparting
volatility to profitability. Trade relations are reported as fair. Payments are reported to be
regular and as per commitment. In view of aforesaid, the company can be considered good for normal
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.
HENKEL RATING
|
HENKEL’s Rating : |
300, 301 (Moderate risk) |
|
Credit
Rating |
Henkel
Rating (Customer Risk Assesment- CRA) |
||
|
Mira
Inform |
Risk
Category |
Credit
Limit |
Description |
|
Aaa |
100 |
Inter Company, credit limit
not required |
Very low risk (blue ships) |
|
Aa |
200,
201 |
(120% of Gross Annualised
Sales/365)*Credit Term. |
Low risk |
|
A |
300,
301 |
(100% of Gross Annualised
Sales/365)*Credit Term. |
Moderate risk |
|
Ba |
350 |
(90% of Gross Annualised
Sales/365)*Credit Term. |
Significant risk |
|
B |
400 |
(80% of Gross Annualised
Sales/365)*Credit Term. |
High risk |
|
450 |
Very high risk |
||
|
Ca
or C |
500* |
NIL/ Legal/ Bad/No Transaction |
Doubtful accounts |
|
007* |
NIL |
Small unrated customers |
|
|
009* |
NIL |
Inactive customers |
|
|
999* |
Initially First Invoice vales,
CRA will be done and based on report the CL would get revised. |
New customer |
|
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
31-03-2015.
INFORMATION DENIED
Management non-co-operative (91-671-2341321)
LOCATIONS
|
Registered Office : |
Type-II, No. 8, Industrial Estate, Khapuria, |
|
Tel. No.: |
91-671-2344538/ 671-2341321 |
|
Fax No.: |
91-671-2344538 |
|
E-Mail : |
DIRECTORS
As on: 30.09.2014
|
Name : |
Mr. Sarat Kumar Sahoo |
|
Designation : |
Managing Director |
|
Address : |
Kazidiha Industrial Estate, Khapuria, Madhupatna, |
|
Date of Birth/Age : |
22.07.1950 |
|
Date of Appointment : |
31.03.1997 |
|
DIN No. : |
00303263 |
|
|
|
|
Name : |
Mrs. Akshaya Kumar Parija |
|
Designation : |
Director |
|
Address : |
A-1/1, Palash Palli,, Bhubaneshwar, 753009, Orissa, India |
|
Date of Birth/Age : |
12.05.1954 |
|
Date of Appointment : |
15.11.2011 |
|
DIN No. : |
03587330 |
|
|
|
|
Name : |
Mrs. Sangita Sahoo |
|
Designation : |
Whole Time Director |
|
Address : |
Kazidiha Industrial Estate, Khapuria, Madhupatna, |
|
Date of Birth/Age : |
15.12.1961 |
|
Date of Appointment : |
30.09.2009 |
|
DIN No. : |
00303337 |
|
|
|
|
Name : |
Mr. Arbind Sahoo |
|
Designation : |
Whole Time Director |
|
Address : |
Kazidiha Industrial Estate, Khapuria, Madhupatna, |
|
Date of Birth/Age : |
28.09.1981 |
|
Date of Appointment : |
30.09.2009 |
|
DIN No. : |
00303409 |
|
|
|
|
Name : |
Mrs. Rashmi Sahoo |
|
Designation : |
Whole Time Director |
|
Address : |
Kazidiha Industrial Estate, Khapuria, Madhupatna, |
|
Date of Birth/Age : |
17.07.1984 |
|
Date of Appointment : |
30.09.2009 |
|
DIN No. : |
00303512 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Sarat Kumar Sahoo |
|
673040 |
|
Sangita Sahoo |
|
215180 |
|
Alekh Sahoo |
|
21050 |
|
Siba Sahoo |
|
17500 |
|
Satyasai Sahoo |
|
44000 |
|
Arbind Sahoo |
|
11530 |
|
Taptii Tradelink Private Limited, India |
|
38000 |
|
Investment Tuusteecoorissap Limited, India |
|
350000 |
|
R K Metal and Wood Products Private Limited, India |
|
2842633 |
|
Vindhyavasinisteels and Engineering Private Limited, India |
|
14000 |
|
Shraman Merchandise Private Limited, India |
|
4000 |
|
Raipur Oil Products Private Limited, India |
|
4000 |
|
Sili kana mercantiles Private Limited, India |
|
10000 |
|
On Foods, India |
|
4000 |
|
Om Pack Food Private limited, India |
|
402000 |
|
Elize international Limited, India |
|
8000 |
|
Surabhi Shree Emporium Private limited, India |
|
6000 |
|
Gainwell Merchants Private Limited, India |
|
5600 |
|
Qualitorn Distributors Private Limited, India |
|
8000 |
|
Mount View Commodities Private Limited, India |
|
3000 |
|
Millennium Vincom Private Limited, India |
|
6000 |
|
Sofra Vinmay Private Limited, India |
|
74000 |
|
Sonic Impex Private Limited, India |
|
8000 |
|
Akshay Kumar Parija |
|
20000 |
|
Total |
|
4789533 |
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Venture |
7.00 |
|
Bodies corporate |
72.00 |
|
Directors or relatives of Directors |
21.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject engaged in manufacturing and exporting of spices, vermicelli and pasta products |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
·
Axis Bank Limited ·
Indusind
Bank Limited 2401, Gen Thimmayya Road, Contonment, Pune – 411 001, Maharashtra,
India
|
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Facilities : |
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Auditors : |
|
|
Name : |
Bajoria and Company Chartered Accountant |
|
Address : |
Ganesh Ghat, |
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Tel. No.: |
91-671-2421436 / 2416168 |
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Fax No.: |
91-671-2421103 |
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E-Mail : |
|
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PAN No.; |
AAEFB9437E |
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|
|
Memberships : |
Not available |
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Collaborators : |
Not available |
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|
|
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Associates/Subsidiaries : |
Not Divulged |
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
6000000 |
Equity Shares |
Rs.10/- each |
Rs.60.000 million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
4758933 |
Equity Shares |
Rs.10/- each |
Rs.47.589
million |
FINANCIAL DATA
[all figures are
in Rupees Million]
NOTE: FINANCIAL
DETAILS ARE ATTACHED
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 |
101.290 |
255.596 |
NA |
|
Net Cash flows from operating activities |
101.290 |
255.596 |
NA |
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 |
47.589 |
47.589 |
47.589 |
|
Reserves & Surplus |
655.185 |
724.118 |
772.062 |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
702.774 |
771.707 |
819.651 |
|
|
|
|
|
|
long-term borrowings |
247.204 |
223.233 |
193.506 |
|
Short term borrowings |
0.000 |
99.350 |
85.568 |
|
Total borrowings |
247.204 |
322.583 |
279.074 |
|
Debt/Equity ratio |
0.352 |
0.418 |
0.340 |
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 |
1341.933 |
1509.687 |
1754.968 |
|
|
|
12.501 |
16.247 |
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 |
1341.933 |
1509.687 |
1754.968 |
|
Profit |
18.875 |
80.551 |
59.563 |
|
|
1.41% |
5.34% |
3.39% |
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) |
No |
|
16 |
No. of employees |
No |
|
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 |
Yes |
|
33 |
Market information |
--- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
LITIGATION DETAILS:
|
CASE STATUS :
PENDING SATTUS OF :
CMP-CMP-CIVIL MISCELLANEOUS PETITION 1454 OF 2014 LITIGANTS :
RUCHIS PRIVATE LIMITED VS OM OIL AND FLOUR MILLA PET’S ADV :
M/S N.P. PARIJA RES’S ADV :
MR. P.K. RATH BENCH
:---- LAST DATE OF HEAING : FRIDAY, JULY 24, 2015 NEXT / FINAL DATE OF HEARING : FRIDAY, JULY 24, 2015 CASE UPDATED ON : THURSDAY, JULY
23, 2015 CATEGORY :
SUIT FOR DECLARATION. (TITLE/*DAMAGES/ RECOVERY / ETC.) |
OPERATIONS:
The turnover has grown from Rs.1411.946 Million in the previous year to Rs.1754.967 Million in the current year, recording a growth of around 24.29% over the previous year’s performance.
Corporate
Information
THE Company is a limited Company domiciled in India and incorporated under the provisions of the Companies Act, 1956. The Company is primarily engaged in the manufacture and selling of an entire range of Spices and Vermicellies.
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Loans repayable on demand from others |
9.318 |
22.006 |
|
Other loans and advances |
14.709 |
18.300 |
|
Total |
24.027 |
40.306 |
CONTINGENT
LIABILITIES:
The Commercial Tax Authorities have raised demands aggregating to Rs. 6.825 Million pertaining to the financial years 2003-04, 2005-06-07, 2007-08 and 2008-09 and the matters are under appeal before the appropriate authorities
INDEX OF CAHREGS:
|
S. NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10574410 |
14/05/2015 |
1,076,000.00 |
AXIS BANK LIMITED |
AXIS BANK LIMITED, PLOT NO: 501, 2ND FLOOR,NARULA,
CO |
C56166416 |
|
2 |
10494781 |
07/05/2014 |
1,200,000.00 |
INDUSIND BANK LIMITED |
2401 GEN THIMMAYYA ROAD, CONTONMENT, PUNE - 411001, MAHARASHTRA, INDIA |
C04558789 |
|
3 |
10494727 |
30/04/2014 |
307,000.00 |
INDUSIND BANK LIMITED |
2401 GEN THIMMAYYA ROAD, CONTONMENT, PUNE - 411001, MAHARASHTRA, INDIA |
C04547873 |
|
4 |
10502591 |
30/04/2014 |
1,096,000.00 |
INDUSIND BANK LIMITED |
2401 GEN THIMMAYYA ROAD, CONTONMENT, PUNE - 411001, MAHARASHTRA, INDIA |
C06412951 |
|
5 |
10502592 |
23/04/2014 |
340,000.00 |
INDUSIND BANK LIMITED |
2401 GEN THIMMAYYA ROAD, CONTONMENT, PUNE - 411001, MAHARASHTRA, INDIA |
C06413249 |
|
6 |
10448290 |
26/07/2013 |
1,065,000.00 |
INDUSIND BANK LIMITED |
2401 GEN THIMMAYYA ROAD, CONTONMENT, PUNE - 411001, MAHARASHTRA, INDIA |
B84678762 |
|
7 |
10448304 |
26/07/2013 |
1,440,000.00 |
INDUSIND BANK LIMITED |
2401 GEN THIMMAYYA ROAD, CONTONMENT, PUNE - 411001, MAHARASHTRA, INDIA |
B84682533 |
|
8 |
10448294 |
23/07/2013 |
460,000.00 |
INDUSIND BANK LIMITED |
2401 GEN THIMMAYYA ROAD, CONTONMENT, PUNE - 411001, MAHARASHTRA, INDIA |
B84680552 |
|
9 |
10448300 |
23/07/2013 |
460,000.00 |
INDUSIND BANK LIMITED |
2401 GEN THIMMAYYA ROAD, CONTONMENT, PUNE - 411001, MAHARASHTRA, INDIA |
B84681378 |
|
10 |
10448311 |
22/07/2013 |
615,000.00 |
INDUSIND BANK LIMITED |
2401 GEN THIMMAYYA ROAD, CONTONMENT, PUNE - 411001, MAHARASHTRA, INDIA |
B84684109 |
* Date
of charge modification
FIXED ASSETS:
- Land
- Building
- Office building
- Plant and equipment
- Factory equipments
- Furniture and fixtures
- Vehicles
- Motor vehicles
- Office equipment
- Computer 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.66.35 |
|
|
1 |
Rs.100.66 |
|
Euro |
1 |
Rs.70.47 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
KRN |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILITY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
60 |
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.