MIRA INFORM REPORT

 

 

Report No. :

351841

Report Date :

30.11.2015

 

IDENTIFICATION DETAILS

 

Name :

MILLENIUM MARBLES PRIVATE LIMITED (w.e.f. 03.05.1999)

 

 

Formerly Known As :

MANSI MARBLES PRIVATE LIMITED

 

 

Registered Office :

Airport Service Road, Western Express Highway, Vile Parle (East), Mumbai – 400099, Maharashtra

Tel. No.:

91-22-26175646

 

 

Country :

India

 

 

Financials (as on) :

31.03.2015

 

 

Date of Incorporation :

22.03.1999

 

 

Com. Reg. No.:

11-119022

 

 

Capital Investment / Paid-up Capital :

Rs. 24.200 Million

 

 

CIN No.:

[Company Identification No.]

U51909MH1999PTC119022

 

 

IEC No.:

0399015027

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUMM22739D/ MUMM19215A

 

 

PAN No.:

[Permanent Account No.]

AABCM6102F

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer, Importer and Trader of Granites, Natural stones and products marbles slabs and blocks.

 

 

No. of Employees :

100 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (42)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject was incorporated in the year 1999. Millenium Marbles Private Limited (MMPL) is engaged in the manufacturer, importer and trader of granites, natural stones and products marbles slabs and blocks.

 

The ratings is constrained on company's relatively modest scale of operations, low profit margins, leveraged capital structure, weak debt coverage indicators and working capital intensive nature of operations.

 

The ratings further continue to be constrained by the company's susceptibility of prices to foreign exchange fluctuation and its presence in the highly competitive and fragmented industry with demand linkage from the cyclical real estate sector.

 

The ratings, however, derive strength from the long track record of the promoters in marble trading business having established strong relationship with its clientele and growing scale of operations.

 

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

 

In view of aforesaid, the company can be considered normal for business dealings with usual trade terms and conditions.

 

Note:-

 

In the Director report for the year ended 31st March 2015, the sales and profit figures for the year ended 31st March 2014 are wrongly reported.

 

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

CARE

Rating

Long term bank facilities: BB

Rating Explanation

Inadequate credit quality and high credit risk.

Date

November 2015

 

Rating Agency Name

CARE

Rating

Short term bank facilities: A4

Rating Explanation

Minimal degree of safety and very high credit risk.

Date

November 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 (GENERAL DETAILS)

 

Name :

Mr. Raju

Designation :

Sales Department

Contact No.:

91-22-38548157

Date :

26.11.2015

 

 

LOCATIONS

 

Registered Office :

Airport Service Road, Western Express Highway, Vile Parle (East), Mumbai – 400099, Maharashtra, India

Tel. No.:

91-22-26631602/ 26175646/ 26177546/ 26151976

Mobile No.:

91-9829042675 (Mr. Sunil Lunawath)

Fax No.:

91-22-26631602/ 26347148

E-Mail :

agarwalrajendra@hotmail.com

info@milleniummarble.com

Website :

www.milleniummarble.com

Location :

Owned

 

 

Factory :

Survey No.269/1/1/1/3, Village Athal, PO Naroli, Silvassa – 396235, UT of Dadra.

Tel. No.:

91-260-2650466 / 2650467

 

 

Godown:

CTS  454 G 456, Pahadi Village, Bhind Radium Cooperative Housing Society, Western Express Highway, Goregaon (East), Mumbai – 400063, Maharashtra, India

 

 

DIRECTORS

 

As on 30.09.2014

 

Name :

Mr. Rajendra Agarwal

Designation :

Director

Address :

Airport Service Road, Western Express Highway, Vile Parle (East), Mumbai – 400099, Maharashtra, India

Date of Birth/Age :

18.12.1959

Date of Appointment :

22.03.1999

DIN No.:

00145598

 

 

Name :

Mr. Pramod Gupta

Designation :

Director

Address :

No.5, Satappa Lane, Arya Steel Corporation, Bangalore, Karnataka, India

Date of Birth/Age :

04.07.1958

Date of Appointment :

12.08.2002

DIN No.:

00349626

 

 

KEY EXECUTIVES

 

Name :

Mr. Raju

Designation :

Sales Department

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 30.09.2014

 

Names of Shareholders

 

 

No. of Shares

Bela Agarwal

 

952500

Amita Agarwal

 

192500

Rajendra Agarwal

 

732500

Vinita Agarwal

 

442500

S D Agarwal (HUF)

 

20000

Pitamber Agarwal

 

80000

Total

 

2420000

 

 

As on 30.09.2014

 

Equity Share Break up (Percentage of Total Equity)

 

Category

Percentage of Holding

Directors or relatives of Directors

100.00

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer, Importer and Trader of Granites, Natural stones and products marbles slabs and blocks.

 

 

Products :
  • Granites
  • Natural stones and products
  • Marbles slabs
  • Blocks

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Available

 

 

Imports :

 

Products :

Raw Material

Countries :
  • Spain
  • Turkey
  • Oman

 

 

Terms :

 

Selling :

Cheque

 

 

Purchasing :

Cheque

 

PRODUCTION STATUS: NOT AVAILABLE

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

100 (Approximately)

 

 

Bankers :

Banker Name

Punjab National Bank

Branch Address

(International Banking Branch), Birya House, Bazargate Road, 265, Perin Nariman Street, Fort, Mumbai - 400001, Maharashtra, India

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

Facilities :

(Rs. In Million)

SECURED LOAN

As on

31.03.2015

As on

31.03.2014

LONG TERM BORROWING

 

 

Term Loan from Bank

4.005

6.303

Vehicle Loan from Finance Company/ Bank

0.000

0.087

SHORT TERM BORROWING

 

 

Working Capital Loans From Bank

38.235

47.222

Acceptance & Buyers Credit From Bank

29.882

3.648

Total

72.122

57.260

 

 

LONG TERM BORROWINGS

 

Term Loans is secured against First Exclusive Charge on Immoveable property.

 

Vehicle Loans are secured against specific Vehicles.

 

Maturity Profile and Rate of interest for Term Loan is as set out below :

 

 

Rs. In Million

Particulars

 

2016-17

2017-18

Rate Of interest 13.25%

2.172

1.833

 

Maturity Profile and Rate of interest for Vehicle Loans are as set out below :

 

Rs. In Million

Particulars

 

2015-16

Rate Of interest 11 %

0.087

 

 

SHORT TERM BORROWINGS

 

Working Capital loans are secured by hypothecation of stock of Raw Material, Finished Goods, Stores and Spares and Book Debts.

 

Auditors :

 

Name :

R. K. Malpani and Associates

Chartered Accountants

Address :

103-A, Shyam Anukampa, O-11, Ashok Marg, C-Scheme, Jaipur – 302001, Rajasthan, India

Tel. No.:

91-141-2364313/ 2364513

Fax No.:

91-141-2364413

E-Mail :

rkmalpanica@hotmail.com

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

AABFR2190M

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Other Related party :

Kargwal Enterprises Private Limited

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2015

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

3000000

Equity Shares

Rs.10/- each

Rs.30.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

2420000

Equity Shares

Rs.10/- each

Rs.24.200 Million

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

31.03.2015

31.03.2014

31.03.2013

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

24.200

24.200

24.200

(b) Reserves & Surplus

32.021

31.430

30.442

(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)

56.221

55.630

54.642

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

5.405

6.390

23.771

(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)

5.405

6.390

23.771

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

68.117

50.870

67.912

(b) Trade payables

1.976

60.446

5.758

(c) Other current liabilities

4.097

5.023

7.326

(d) Short-term provisions

0.056

0.048

0.301

Total Current Liabilities (4)

74.246

116.387

81.297

 

 

 

 

TOTAL

135.872

178.407

159.710

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

20.334

21.761

22.703

(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

0.000

0.000

0.000

(c) Deferred tax assets (net)

0.681

0.826

0.778

(d)  Long-term Loan and Advances

0.211

0.262

0.000

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

21.226

22.849

23.481

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

49.103

64.285

74.714

(c) Trade receivables

57.036

80.436

45.754

(d) Cash and cash equivalents

5.306

1.794

4.554

(e) Short-term loans and advances

3.026

8.696

10.616

(f) Other current assets

0.175

0.347

0.591

Total Current Assets

114.646

155.558

136.229

 

 

 

 

TOTAL

135.872

178.407

159.710

 

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2015

31.03.2014

31.03.2013

 

SALES

 

 

 

 

Income

411.932

395.844

322.208

 

Other Income

0.386

0.203

2.483

 

TOTAL (A)

412.318

396.047

324.691

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

338.396

327.588

282.198

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

15.182

10.428

(11.229)

 

Employees benefits expense

3.013

3.197

3.009

 

Other expenses

45.632

44.758

37.695

 

TOTAL (B)

402.223

385.971

311.673

 

 

 

 

 

Less

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)

10.095

10.076

13.018

 

 

 

 

 

Less

FINANCIAL EXPENSES (D)

7.391

7.350

8.182

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)

2.704

2.726

4.836

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION (F)

1.427

1.284

1.668

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX (E-F)   (G)

1.277

1.442

3.168

 

 

 

 

 

Less

TAX (H)

0.686

0.454

0.702

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX  (G-H)   (I)

0.591

0.988

2.466

 

 

 

 

 

 

Finished Goods

84.257

52.228

NA

 

TOTAL IMPORTS

84.257

52.228

NA

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

0.24

0.41

1.02

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2015

31.03.2014

31.03.2013

Current Maturities of Long term debt

2.259

3.176

4.043

Cash generated from operations

12.429

NA

NA

Net cash flows from (used in) operations

11.888

NA

NA

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2015

31.03.2014

31.03.2013

Net Profit Margin

(PAT / Sales)

(%)

0.14

0.25

0.77

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

2.45

2.55

4.04

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

0.94

0.81

1.99

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.02

0.03

0.06

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

1.35

1.09

1.75

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.54

1.34

1.68

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

24.200

24.200

24.200

Reserves & Surplus

30.442

31.430

32.021

Money received against share warrants

0.000

0.000

0.000

 Share Application money pending allotment

0.000

0.000

0.000

Net worth

54.642

55.630

56.221

 

 

 

 

long-term borrowings

23.771

6.390

5.405

Short term borrowings

67.912

50.870

68.117

Current maturities of long-term debts

4.043

3.176

2.259

Total borrowings

95.726

60.436

75.781

Debt/Equity ratio

1.752

1.086

1.348

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

322.208

395.844

411.932

 

 

22.854

4.064

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

322.208

395.844

411.932

Profit

2.466

0.988

0.591

 

0.77%

0.25%

0.14%

 

 

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

No

19

Major customers

No

20

Banking Details

Yes

21

Banking facility details

Yes

22

Conduct of the banking account

--

23

Financials, if provided

Yes

24

Capital in the business

Yes

25

Last accounts filed at ROC, if applicable

Yes

26

Turnover of firm for last three years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

No

29

Profitability for last three years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

No

32

Litigations that the firm/promoter involved in

--

33

Market information

--

34

Payments terms

Yes

35

Negative Reporting by Auditors in the Annual Report

No

 

 

BUSINESS

 

Operational Revenue and Profit during the Financial Year ended 31st March, 2015, the operational revenue of the company increased to Rs. 411.932 Million as against Rs.395.844 and Profit before tax increased to Rs. 1.277 Million as against Rs. 1.442 Million in the previous year.

 

UNSECURED LOAN

(Rs. In Million)

Particulars

As on

31.03.2015

As on

31.03.2014

LONG TERM BORROWING

 

 

Loans and advances from related parties

1.400

0.000

Total

1.400

0.000

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10200367

14/08/2014 *

347,178,000.00

PUNJAB NATIONAL BANK

INTERNATIONAL BANKING BRANCH, 265, BIRYA HOUSE,,
BAZARGATE ROAD, FORT,, MUMBAI, MAHARASHTRA - 40000
1, INDIA

C37872413

2

10130590

19/02/2009 *

164,431,966.00

PUNJAB NATIONAL BANK

INTERNATIONAL BANKING BRANCH, BIRYA HOUSE, BAZARG
ATE ROAD, FORT, MUMBAI, MAHARASHTRA - 400001, INDI
A

A58161340

3

10039061

22/12/2007 *

133,221,966.00

PUNJAB NATIONAL BANK

INTERNATIONAL BANKING BRANCH, 265, BIRYA HOUSE, B
AZARGATE ROAD, FORT,, MUMBAI, MAHARASHTRA - 400001
, INDIA

A30131866

4

90145025

11/03/2004

16,500,000.00

PUNJAB NATIONAL BANK

INTERNATIONAL BANKING BRANCH; F-7; MAKER CUFFE PAR
, MUMBAI, MAHARASHTRA - 400005, INDIA

-

5

90143997

08/02/2004 *

50,000,000.00

PUNJAB NATIONAL BANK

INTERNATIONAL BANKING BRANCH; F-7; MAKER CUFFE PAR
, MUMBAI, MAHARASHTRA - 400005, INDIA

-

6

90143189

03/11/2014 *

107,751,000.00

PUNJAB NATIONAL BANK

INTERNATIONAL BANKING BRANCH, 265, BIRYA HOUSE, B
AZARGATE ROAD, FORT,, MUMBAI, MAHARASHTRA - 400001
, INDIA

C35139286

* Date of charge modification

 

FIXED ASSETS

 

·         Freehold Land

·         Factory Building

·         Plant and Machinery

·         Electric Installation

·         Office Equipments

·         Computers

·         Vehicles

 

 

 

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 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.66.75

UK Pound

1

Rs.100.68

Euro

1

Rs.70.88

 

 

INFORMATION DETAILS

 

Information Gathered by :

GYT 

 

 

Analysis Done by :

KAS

 

 

Report Prepared by :

KVT

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILITY

1~10

4

--LIQUIDITY

1~10

4

--LEVERAGE

1~10

4

--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

 

42

 

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.