MIRA INFORM REPORT

 

 

Report No. :

343974

Report Date :

06.10.2015

 

IDENTIFICATION DETAILS

 

Name :

SHORE AUTO-RUBBER EXPORTS PRIVATE LIMITED

 

 

Registered Office :

Shop No. 5, Deokar Plaza Building, Shantinagar Landawadi, Bhosari, Pune – 411039, Maharashtra

Tel. No.:

91-2135-612570

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

13.11.2003

 

 

Com. Reg. No.:

11-018550

 

 

Capital Investment / Paid-up Capital :

Rs.12.000 Million

 

 

CIN No.:

[Company Identification No.]

U25199PN2003PTC018550

 

 

IEC No.:

3104011039

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AAHCS9646Q

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer, Exporter and Importer of rubber hoses.

 

 

No. of Employees :

50 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (49)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

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

Satisfactory

 

Maximum Credit Limit :

USD 210000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

Comments :

Subject was incorporated in the year 2008 and it is a manufacturer and exporter of rubber and silicone hose products.

 

With respect to the operational performance of 2014, company has reported 39.26% sales turnover growth as compared to previous sales turnover and it has maintained decent profitability margins at.12.50% during the year under a review.

 

Rating takes into consideration company’s healthy operating efficiencies supported by its satisfactory financial profile above average net worth base and fair liquidity position.

 

Trade relations are reported as fair. Payment terms are reported to be usually correct.

 

In view of aforesaid, the company can be considered for business dealings at usual trade terms and condition.

 

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

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 PARTED BY

 

Name :

Mr. Bargude

Designation :

Accounts Manager

Contact No.:

91-2135-612570

Date :

06.10.2015

 

 

 

LOCATIONS

 

Registered Office :

Shop No. 5, Deokar Plaza Building, Shantinagar Landawadi, Bhosari, Pune – 411039, Maharashtra, India

Tel. No.:

Not Available

Mobile No.:

91-9890055437 (Mr. Kishore Daulat Keswani)

Fax No.:

Not Available

E-Mail :

office@iuthakurcs.com

kishore@shorerubber.com

Website:

www.shorehouses.com

Location:

Owned

Locality:

Commercial

 

 

Factory 1 :

Gat 7, Poast-Chimbli, Taluka-Khed, Pune – 410501, Maharashtra, India

Tel. No.:

91-2135-612570

Fax No.:

91-2135-612572

 

 

Corporate Office :

C/O Gauri Warehousing Corporation, Gat No. 148, At Post – Kuruli, Taluka Khed, Pune – 410501, Maharashtra, India

 

 

DIRECTORS

 

AS ON 30.09.2014

 

Name :

Mr. Kishore Daulat Keswani

Designation :

Managing director

Address :

A1/A2, Meghmalhar Raagdari Appartment, D.P. Road, Aundh, Pune - 411007, Maharashtra, India

Date of Birth/Age :

06.07.1978

Date of Appointment :

13.11.2003

DIN No.:

00345058

 

 

Name :

Mr. Daulat Tarachand Keswani

Designation :

Director

Address :

A1/A2, Meghmalhar Raagdari Appartment, D.P. Road, Aundh, Pune - 411007, Maharashtra, India

Date of Birth/Age :

02.01.1940

Date of Appointment :

01.04.2012

DIN No.:

00070212

 

 

KEY EXECUTIVES

 

Name :

Mr. Bargude

Designation :

Accounts Manager

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2014

 

Names of Shareholders

 

No. of Shares

Kishore Daulat Keswani

 

64218

Daulat Tarachand Keswani

 

14181

Auto Steel and Rubber Industries Private Limited, India

 

41600

Keswani AMI, India

 

1

Total

 

120000

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 30.09.2014

 

Category

Percentage

Bodies corporate

34.66

Directors or relatives of Directors

65.34

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer, Exporter and Importer of rubber hoses.

 

 

Products :

Rubber hoses

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

 

Products :

Rubber hoses

Countries :
  • South Africa
  • USA
  • Germany
  • Belgium

 

 

Imports :

 

Products :

Raw Material

Countries :
  • China
  • Germany

 

 

Terms :

 

Selling :

Cash and Credit

 

 

Purchasing :

Cash and Credit

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :
  • Apollo Logisolutions Limited
  • Aquarius Chemicals
  • Ashwin Enterprises
  • Auto Steel and Rubber Industries Private Limited
  • Avik Polychem
  • Baba Enterprises
  • Balaji Sales Corporation
  • Chandrakant Vargale
  • Compound AG
  • Conwood Engineering Works
  • Fabrocraft

 

Reference :

Apollo Fiege Integrated Logistics Private 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 :
  • Greaves Cotton Limited
  • Lundgrens Serige Ab
  • Maya Engineering
  • Pall India Private Limited
  • Rieter India Private Limited
  • Teksons Private Limited
  • TVH Parts NV
  • Agya Engineering Company

 

Reference :

Erik Gasket Technology

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 :

50 (Approximately)

 

 

Bankers :

Banker Name

The Saraswat Co-Operative Bank Limited

Branch Address

Sangamwadi, Pune, 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

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

The Saraswat Co-Operative Bank Limited,- Term Loan A/c No. 5018 (EOU)

1.162

1.867

The Saraswat Co-Operative Bank Limited,- Term Loan A/c No. 50284 (EOU)

0.958

1.371

The Saraswat Co-Operative Bank Limited,- Term Loan A/c No. 50286 (EOU)

0.248

0.370

The Saraswat Co-Operative Bank Limited,- Term Loan A/c No. 50417 (EOU)

0.338

0.439

The Saraswat Co-Operative Bank Limited,- Term Loan A/c No. 50041 (DTA)

0.000

0.507

The Saraswat Co-Operative Bank Limited,- Term Loan A/c No. 50418 (DTA)

1.641

2.997

The Saraswat Co-Operative Bank Limited,- Term Loan A/c No. 50498 (DTA)

0.692

0.000

The Saraswat Co-Operative Bank Limited – Car Loan

1.756

2.177

SHORT TERM BORROWING

 

 

The Saraswat Co-Operative Bank Limited – Packing Credit

5.702

8.251

The Saraswat Co-Operative Bank Limited – Advance Against Export Invoices

15.248

6.042

Saraswat Bank (CC Cum PC A/c No 3597) SME – EOU

0.000

10.002

Saraswat Bank (CC Cum PC A/c No 3641) SME – DTA

0.241

1.339

Total

27.986

35.362

 

Auditors :

 

Name :

Shah Parekh and Sabhani

Chartered Accountants

Address :

M-2 II Wing, Thacker House, 2418, East Street, Pune – 411001, Maharashtra, India

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

AAOFS8789G

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Related party :
  • Auto Steel and Rubber Industries Private Limited, India
  • Kishore Elastomer
  • Shree Elastomers

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

120000

Equity Shares

Rs.100/- each

Rs. 12.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

120000

Equity Shares

Rs.100/- each

Rs. 12.000 Million

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

 

ABRIDGED BALANCE SHEET (CONSOLIDATED)

 

SOURCES OF FUNDS

31.03.2014

31.03.2013

31.03.2012

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

12.000

11.306

11.306

(b) Reserves & Surplus

62.967

35.184

34.065

(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)

74.967

46.490

45.371

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

6.796

12.030

8.460

(b) Deferred tax liabilities (Net)

1.155

1.240

1.758

(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)

7.951

13.270

10.218

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

21.190

25.632

12.983

(b) Trade payables

13.238

21.558

0.970

(c) Other current liabilities

1.928

2.685

29.758

(d) Short-term provisions

20.368

3.817

0.000

Total Current Liabilities (4)

56.724

53.692

43.711

 

 

 

 

TOTAL

139.642

113.452

99.300

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

37.207

39.536

36.622

(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

0.025

0.025

0.025

(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

4.202

3.304

3.304

Total Non-Current Assets

41.434

42.865

39.951

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

27.901

24.589

18.979

(c) Trade receivables

36.004

28.633

26.541

(d) Cash and cash equivalents

4.462

1.436

1.346

(e) Short-term loans and advances

28.173

14.307

11.798

(f) Other current assets

1.668

1.622

0.685

Total Current Assets

98.208

70.587

59.349

 

 

 

 

TOTAL

139.642

113.452

99.300

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

214.560

154.410

185.303

 

Other Income

7.530

5.067

6.802

 

TOTAL

222.090

159.477

192.105

 

 

 

 

 

Less

EXPENSES

177.979

157.340

189.128

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

44.111

2.137

2.977

 

 

 

 

 

Less

TAX

16.329

1.018

2.116

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

27.782

1.119

0.861

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

231.52

9.90

7.62

 

 

Particulars

 

 

 

31.03.2015

Sales Turnover (Approximately)

 

 

240.000

 

Expected Sales (2015-2016): Rs.300.000 Million

 

The above information has been parted by Mr. Bargude

 

 

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 flows from (used in) operations

NA

NA

NA

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

12.95

0.72

0.46

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

31.59

1.88

3.00

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.59

0.05

0.07

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

0.37

0.81

0.47

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.73

1.31

1.36

 

 

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

11.306

11.306

12.000

Reserves & Surplus

34.065

35.184

62.967

Money received against share warrants

0.000

0.000

0.000

 Share Application money pending allotment

0.000

0.000

0.000

Net worth

45.371

46.490

74.967

 

 

 

 

long-term borrowings

8.460

12.030

6.796

Short term borrowings

12.983

25.632

21.190

Total borrowings

21.443

37.662

27.986

Debt/Equity ratio

0.473

0.810

0.373

 

 

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

185.303

154.410

214.560

 

 

-16.672

38.955

 

 

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

185.303

154.410

214.560

Profit

0.861

1.119

27.782

 

0.46%

0.72%

12.95%

 

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

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

 

OPERATIONS:

 

During the year ended on 31st March, 2014 Sales and other income amounted to Rs. 222.090 Million in comparison to Rs. 159.478 Million in the previous Year. Company has made net profit after tax of Rs. 27.783 in comparison to net profit of Rs. 1.119 Million in the previous year. Company is taking necessary steps to increase its profitability further, by imposing strict control lover overheads.

 

FUTURE PLANS:

 

The Company is taking necessary steps to increase operations successfully.

 

UNSECURED LOAN

 

Rs. In Million)

Particulars

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

Auto Steel and Rubber Industries Private Limited

0.000

2.300

Total

0.000

2.300

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10565882

06/04/2015

8,750,000.00

THE SARASWAT CO-OPERATIVE BANK LIMITED

C-2 KOHINOOR ESTATE CO-OPERATIVE HOUSING SOCIETY, PLOT NO.12, MULA ROAD, SANGAMWADI,, PUNE, MAHARA
SHTRA - 411003, INDIA

C51873032

2

10369810

06/08/2012

3,350,000.00

THE SARASWAT CO-OPERATIVE BANK LIMITED

C-2, KOHINOOR ESTATE CO-OPERATIVE HOUSING SOCIETY,
PLOT NO. 12, MULA ROAD SANGAMWADI, PUNE, MAHARAS
HTRA - 411003, INDIA

B45412525

3

10369812

04/08/2012

500,000.00

THE SARASWAT CO-OPERATIVE BANK LIMITED

C-2, KOHINOOR ESTATE CO-OPERATIVE HOUSING SOCIETY,
PLOT NO. 12, MULA ROAD SANGAMWADI, PUNE, MAHARAS
HTRA - 411003, INDIA

B45412855

4

10300584

06/08/2011

600,000.00

THE SARASWAT CO-OPERATIVE BANK LIMITED

C-2, KOHINOOR ESTATE CO-OPERATIVE HOUSING SOCIETY,
PLOT NO. 12, MULA ROAD SANGAMWADI, PUNE, MAHARAS
HTRA - 411003, INDIA

B18194043

5

10300669

06/08/2011

2,000,000.00

THE SARASWAT CO-OPERATIVE BANK LIMITED

C-2, KOHINOOR ESTATE CO-OPERATIVE HOUSING SOCIETY,
PLOT NO. 12, MULA ROAD SANGAMWADI, PUNE, MAHARAS
HTRA - 411003, INDIA

B18216424

6

10267031

24/12/2010

3,500,000.00

THE SARASWAT CO-OPERATIVE BANK LIMITED

C-2, KOHINOOR COOPERATIVE HOUSING SOCIETY,, PLOT
NO. 12, MULA ROAD, SANGAMWADI,, PUNE, MAHARASHTRA
- 411003, INDIA

B06180327

7

10202308

04/02/2010

2,400,000.00

THE SARASWAT CO - OPERATIVE BANK LIMITED

C-2, KOHINOOR ESTATE CO-OPERATIVE HOUSING SOCIETY,
PLOT NO. 12, MULA ROAD SANGAMWADI, PUNE, MAHARAS
HTRA - 411003, INDIA

A78943412

8

10103073

02/04/2008

1,000,000.00

THE SARASWAT COOPERATIVE BANK LIMITED

PIMPRI BRANCH,, MUMBAI PUNE ROAD,, PUNE, MAHARASH
TRA - 411019, INDIA

A38657748

9

10103074

03/12/2008 *

6,000,000.00

THE SARASWAT COOPERATIVE BANK LIMITED

PIMPRI BRANCH,, MUMBAI PUNE ROAD,, PUNE, MAHARASH
TRA - 411019, INDIA

A53432472

10

10041039

28/02/2007 *

7,500,000.00

THE SARASWAT COOPERATIVE BANK LIMITED

PIMPRI BRANCH,, MUMBAI PUNE ROAD,, PUNE, MAHARASH
TRA - 411019, INDIA

A12053542

 

* Date of charge modification

 

FIXED ASSETS

 

 

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.65.29

UK Pound

1

Rs.99.31

Euro

1

Rs.73.39

 

 

INFORMATION DETAILS

 

Information Gathered by :

NYA

 

 

Analysis Done by :

KAR

 

 

Report Prepared by :

KVT

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

6

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

6

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

6

--PROFITABILITY

1~10

6

--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

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

49

 

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.