MIRA INFORM REPORT
|
Report No. : |
343597 |
|
Report Date : |
03.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
MADRAS FLUORINE PRIVATE LIMITED [w.e.f.23.04.2009] |
|
|
|
|
Formerly Known
As : |
MFPL
FLUORINE PRODUCTS PRIVATE LIMITED [w.e.f.30.12.2008] MFPL
FLUORINE PRODUCTS LIMITED |
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|
|
|
Registered
Office : |
New No. 71, Old No. 28, 4th Main Road, Gandhi Nagar, Adyar, Chennai –
600020, Tamilnadu |
|
Tel. No.: |
91-44-22426830/ 42117259 |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
21.02.1975 |
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|
|
|
Com. Reg. No.: |
18-006922 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 21.200
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24290TN1975PTC006922 |
|
|
|
|
IEC No.: |
0491003439 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
AAACM5282F |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer, Exporter and Supplier of Inorganic Fluorine Chemicals. |
|
|
|
|
No. of Employees
: |
70 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 112000 |
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|
|
|
Status : |
Satisfactory |
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|
|
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Payment Behaviour : |
Usually Correct |
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|
Litigation : |
Clear |
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|
Comments : |
Subject is an established company incorporated in the year 1975. It
has satisfactory track record. For the financial year ended 2015, the company has healthy growth in
its scale of operations marked by top line growth of 15.9% along with profitability
margin of 1.6%. The company has long business track record, satisfactory financial
base along with favorable gap between trade payables and receivables. Trade relations are reported as fair. Business is active. Payments are
usually correct. The company can be considered for business dealings at usual trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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
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 PARTED BY
|
Name : |
Mr. B. Venkateshwar |
|
Designation : |
Director |
|
Contact No.: |
91-9840754110 |
|
Date : |
03.10.2015 |
LOCATIONS
|
Registered Office : |
New No. 71, Old No. 28, 4th Main Road, Gandhi Nagar, Adyar, Chennai –
600020, Tamilnadu, India |
|
Tel. No.: |
91-44-22426830/ 42117259 |
|
Mobile No.: |
91-9840754110 (Mr. B Venkateshwar) |
|
Fax No.: |
91-44-24420654 |
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E-Mail : |
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|
Website : |
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|
Location : |
Owned |
|
Locality : |
Commercial |
|
|
|
|
Factory : |
266, Express Highway, Manali, Chennai - 600068, Tamilnadu, India |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Maniyan Sabapathy Sivan |
||||||||||||||||||||||||
|
Designation : |
Managing director |
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|
Address : |
4F/3, 4th Cross Street, Besant Nagar, Chennai – 600090, Tamilnadu, India |
||||||||||||||||||||||||
|
Date of Birth/Age : |
11.10.1951 |
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|
Date of Appointment : |
03.07.1997 |
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|
DIN No.: |
00756496 |
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|
||||||||||||||||||||||||
|
Name : |
Mr. Balasubramanian Venkteshwar |
||||||||||||||||||||||||
|
Designation : |
Whole-time director |
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|
Address : |
83, Kamraj Avenue, Adyar, Chennai – 600020, Tamilnadu, India |
||||||||||||||||||||||||
|
Date of Birth/Age : |
07.11.1964 |
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|
Date of Appointment : |
03.07.1997 |
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DIN No.: |
00756589 |
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Other Directorship :
|
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Maniyan Sabapathy Shivan |
|
805344 |
|
Saraswathi S. Shivan |
|
49000 |
|
Niranjan Shivan |
|
22450 |
|
Ghanga Manian |
|
20500 |
|
B. Venkteshwar |
|
1109956 |
|
Subhashri Mani |
|
5000 |
|
Prasad |
|
5000 |
|
Kala Venkateshwar |
|
102750 |
|
|
|
|
|
Total |
|
2120000 |
AS ON 30.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Directors
or relatives of directors |
99.76 |
|
Other
top fifty shareholders |
0.24 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Supplier of Inorganic Fluorine Chemicals. |
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|
|
|
Brand Names : |
-- |
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|
|
|
Agencies Held : |
-- |
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|
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Exports : |
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|
Products : |
Inorganic Fluorine Chemicals |
|
Countries : |
· UK · USA · European Countries |
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|
|
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Imports : |
-- |
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|
|
|
Terms : |
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|
Selling : |
Cash and Credit |
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|
|
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
End Users
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No. of Employees : |
70 (Approximately) |
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Bankers : |
· Canara Bank Overseas Branch, Spencer Towers, Anna Salai, Chennai -
600002, Tamilnadu, India |
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|
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Facilities : |
|
|
Banking Relations
: |
-- |
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|
|
|
Auditors : |
|
|
Name : |
V Radhakrishnan Chartered Accountant |
|
Address : |
43/ G.D. Second Main Road, Gandhinagar, Adyar, Chennai – 600020,
Tamilnadu, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AABPR2391A |
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|
|
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Memberships : |
-- |
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Collaborators : |
-- |
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|
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,250,000 |
Equity Shares |
Rs. 10/- each |
Rs. 22.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,120,000 |
Equity Shares |
Rs. 10/- each |
Rs. 21.200
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 |
21.200 |
17.263 |
17.263 |
|
(b) Reserves & Surplus |
18.037 |
15.585 |
12.994 |
|
(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) |
39.237 |
32.848 |
30.257 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
6.487 |
5.452 |
7.362 |
|
(b) Deferred tax liabilities (Net) |
1.520 |
1.308 |
1.145 |
|
(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) |
8.007 |
6.760 |
8.507 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
44.996 |
46.001 |
28.427 |
|
(b)
Trade payables |
7.115 |
10.491 |
11.549 |
|
(c)
Other current liabilities |
2.118 |
1.126 |
4.864 |
|
(d)
Short-term provisions |
0.880 |
1.021 |
1.279 |
|
Total
Current Liabilities (4) |
55.109 |
58.639 |
46.119 |
|
|
|
|
|
|
TOTAL |
102.353 |
98.247 |
84.883 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
34.879 |
30.141 |
28.688 |
|
(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) |
0.000 |
0.000 |
0.000 |
|
(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 |
34.879 |
30.141 |
28.688 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.050 |
0.050 |
0.040 |
|
(b)
Inventories |
33.407 |
35.213 |
34.100 |
|
(c)
Trade receivables |
27.107 |
24.362 |
16.206 |
|
(d)
Cash and cash equivalents |
4.586 |
6.522 |
4.816 |
|
(e)
Short-term loans and advances |
1.946 |
1.586 |
0.660 |
|
(f)
Other current assets |
0.378 |
0.373 |
0.373 |
|
Total
Current Assets |
67.474 |
68.106 |
56.195 |
|
|
|
|
|
|
TOTAL |
102.353 |
98.247 |
84.883 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
154.448 |
133.287 |
97.918 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
151.783 |
130.533 |
97.345 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
2.665 |
2.754 |
0.573 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
DEFERRED TAX
LIABILITY |
0.213 |
0.163 |
0.081 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
2.452 |
2.591 |
0.492 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
5.585 |
2.994 |
2.502 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
8.037 |
5.585 |
2.994 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
65.586 |
51.151 |
36.458 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.16 |
1.50 |
0.29 |
|
|
PARTICULARS |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
200.000 |
|
|
|
|
|
Expected Sales (2015-2016): Rs. 240.000 Million
The above information has been parted by Mr. B. Venkateshwar [Director]
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 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.60 |
2.80 |
0.68 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07 |
0.08 |
0.02 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.31 |
1.57 |
1.18 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.22 |
1.16 |
1.22 |
Total Liability = Short-term Debt + Long-term Debt + Current Maturities
of Long-term debts
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particulars |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
17.263 |
17.263 |
21.200 |
|
Reserves & Surplus |
12.994 |
15.585 |
18.037 |
|
Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
30.257 |
32.848 |
39.237 |
|
|
|
|
|
|
Long-term borrowings |
7.362 |
5.452 |
6.487 |
|
Short term borrowings |
28.427 |
46.001 |
44.996 |
|
Total
borrowings |
35.789 |
51.453 |
51.483 |
|
Debt/Equity ratio |
1.183 |
1.566 |
1.312 |
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) |
|
Total Income |
97.918 |
133.287 |
154.448 |
|
|
|
36.121 |
15.876 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Total Income |
97.918 |
133.287 |
154.448 |
|
Profit |
0.492 |
2.591 |
2.452 |
|
|
0.50% |
1.94% |
1.59% |
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 |
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 |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
80066838 |
08/10/1999 |
4,000,000.00 |
CANBANK FACTORS
LIMITED |
770-A SPENCER
TOWER ANNEXE, ANNA SALAI, CHENNAI, |
- |
|
2 |
80066837 |
30/07/1999 |
4,000,000.00 |
CANBANK FACTORS
LIMITED |
770-A SPENCER
TOWER ANNEXE, ANNA SALAI, CHENNAI, |
- |
|
3 |
90306536 |
02/01/2007 * |
27,900,000.00 |
CANARA BANK |
OVERSEAS BRANCH,
ANNA SALAI, CHENNAI, TAMILNADU |
- |
|
4 |
90306363 |
15/12/2004 * |
7,500,000.00 |
CANARA BANK |
OVERSEAS BRANCH,
SPENCER TOWER; MOUNT ROAD, CHENNAI, TAMILNADU - 600002, INDIA |
- |
|
5 |
90306157 |
03/02/2015 * |
87,315,000.00 |
CANARA BANK |
MID CORPORATE
BRANCH, ANNA SALAI, CHENNAI, TAMILNADU - 600002, INDIA |
C49388242 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
M. Sabapathy Shivan |
0.000 |
1.798 |
|
B. Venkateshwar |
0.000 |
2.110 |
|
Gangha Manian |
0.300 |
0.300 |
|
|
|
|
|
Total |
0.300 |
4.208 |
PERFORMANCE REVIEW
The company has achieved a turnover of Rs. 154.448 Million which
includes export sales of Rs. 65.586 Million and other income of Rs. 0.585
Million. There has been an increase of 28% in the export sales and around 8%
increase in the domestic sales. The overall increase is around 15.87%.
Even though the international raw material prices were stable the raw
material costs were higher, due to weakening of Indian rupee. The company used
more US Dollar for imports than what it earned by way of exports. The US Dollar
which was around Rs. 55/- in April 2013 reached an all time high of Rs. 67/- in
September and stabilized at around Rs. 62/- for the remaining period of the
year. This helped for better realization of export sales.
The company went for an expansion cum modernization by obtaining a Term
Loan of Rs. 16.700 Million from Canara Bank and the total project cost Rs.
23.800 Million. The margin money was met from company’s bank deposit and
internal generations. The expansion will be completed by October 2014.
BUSINESS PROSPECTS
The international prices of the raw materials are very stable now. The
turnover for the current year is expected to increase by 20% over the last
year. The profit margins are expected to be better because of increase in sales
volume.
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. 65.55 |
|
|
1 |
Rs. 99.17 |
|
Euro |
1 |
Rs. 73.08 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
46 |
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.