MIRA INFORM REPORT

 

 

Report No. :

344340

Report Date :

10.10.2015

 

IDENTIFICATION DETAILS

 

Name :

S H PITKAR ORTHOTOOLS PRIVATE LIMITED

 

 

Registered Office :

Plot No. EL 32, J Block, MIDC, Bhosari, Pune – 411026, Maharashtra

Tel. No.:

91-20-40706464

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

12.02.1990

 

 

Com. Reg. No.:

11-055384

 

 

Capital Investment / Paid-up Capital :

Rs.4.587 Million

 

 

CIN No.:

[Company Identification No.]

U33119PN1990PTC055384

 

 

IEC No.:

0391006151

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AACCS6013Q

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer, Exporter and Importer of Orthopedic implants and instruments.

 

 

No. of Employees :

150 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (48)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

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

Satisfactory

 

Maximum Credit Limit :

USD 350000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

Comments :

Subject was incorporated on 12th February, 1990. It has satisfactory track record.

 

The company possesses a decent financial profile marked by decent networth base position and fair profitability during FY 2014. Liquidity of the company is fair marked by favorable gap between trade receivables and payables.

 

Trade relations are fair. Business is active. Payment are reported to be 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 :

Ms. Sampada Deshmukh

Designation :

Import – Export Incharge

Contact No.:

91-20-40706464

Date :

08.10.2015

 

 

LOCATIONS

 

Registered Office / Factory :

Plot No. EL 32, J Block, MIDC, Bhosari, Pune – 411026, Maharashtra, India

Tel. No.:

91-20-40706464 (30 Lines)

Fax No.:

91-20-46768107

E-Mail :

hr@pitkar.com

imports@pitkar.com

accounts@pitkar.com

Website :

www.pitkar.com

 

 

DIRECTORS

 

As on 29.09.2014

 

Name :

Mr. Vivek Vaman Mangalwedhekar

Designation :

Director

Address :

BA 9 And 10, Swapnashilp, Near Gandhi Lawn, Ganeshnagar, Pune - 411029, Maharashtra, India

Date of Birth/Age :

01.01.1962

Date of Appointment :

12.02.1990

DIN No.:

00474770

Other Directorship :

 

 

Name :

Mrs. Neha Vivek Mangalwedhekar

Designation :

Director

Address :

BA-09 and 10, Swapnashilp, S. NO.19/2, Erandvana, Near Gandhi Lawn, Pune - 411029, Maharashtra, India

Date of Birth/Age :

02.04.1963

Date of Appointment :

12.02.1990

DIN No.:

00474786

 

 

Name :

Mrs. Sadhana Hari Pitkar

Designation :

Director

Address :

Plot-5, Vaividhya Nagari, S.No.2, 3B/2A, Nav Sahyadri, Pune - 411052, Maharashtra, India

Date of Birth/Age :

19.12.1944

Date of Appointment :

12.02.1990

DIN No.:

00474806

 

 

Name :

Mr. Bhushan Hari Pitkar

Designation :

Director

Address :

Plot No. 5, S. No. 2h 3B/2A, Vaividhya Nagari, Behind Vithal Mandir, Navasahyadri, Pune - 411052, Maharashtra, India

Date of Birth/Age :

08.11.1964

Date of Appointment :

12.02.1190

DIN No.:

00474841

Other Directorship :

S. No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U33119PN1990PTC055384

S H PITKAR ORTHOTOOLS PRIVATE LIMITED

Director

12/02/1990

12/02/1990

-

Active

NO

2

U51507MH1993PTC071198

PITKAR SURGICALS AND MARKETING PRIVATE LIMITED

Director

18/03/1993

18/03/1993

-

Strike off

NO

 

 

Name :

Mrs. Nupur Bhushan Pitkar

Designation :

Director

Address :

Plot No.5, Shrihari Niwas, Vaividhya Nagari, B/H Vitthal Mandir, Navsahyadri, Pune - 411052, Maharashtra, India

Date of Birth/Age :

10.06.1965

Date of Appointment :

12.02.1990

DIN No.:

00474820

 

 

KEY EXECUTIVES

 

Name :

Ms. Sampada Deshmukh

Designation :

Import – Export Incharge

 

 

MAJOR SHAREHOLDERS

 

As on 29.09.2014

 

Names of Shareholders

 

No. of Shares

Bhushan Hari Pitkar

 

8364

Nupur Bhushan Pitkar

 

8364

Sadhana Hari Pitkar

 

8364

Vivek Vaman Mangalwedhekar

 

8364

Neha Vivek Mangalwedhekar

 

8364

Bhushan Hari Pitkar Jointly With Nupur Bhushan Pitkar

 

810

Sadhana H. Pitkar Jointly With Bhushan Hari Pitkar

 

810

Nupur B. Pitkar Jointly With Bhushan Hari Pitkar

 

810

Vivek Vaman Mangalwedhekar Jointly With Neha Vivek Mangalwedhekar

 

810

Neha Vivek Mangalwedhekar Jointly With Vivek Vaman Mangalwedhekar

 

810

Total

 

45870

 

As on 29.09.2014

 

Equity Share Break up (Percentage of Total Equity)

 

Category

Percentage

Directors or relatives of Directors

100.00

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer, Exporter and Importer of Orthopedic implants and instruments.

 

 

Products :

Orthopedic implants and Instruments

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

 

Products :

Finished Goods

Countries :
  • Malaysia
  • Saudi Arabia
  • Italy
  • United Kingdom
  • Ethiopia

 

 

Imports :

 

Products :

Raw Material

Countries :
  • United Kingdom
  • United States of America
  • Italy
  • Japan

 

 

Terms :

 

Selling :

Cash, L/C and Credit

 

 

Purchasing :

Cash, L/C and Credit

 

PRODUCTION STATUS (30.03.2014)

 

Class of Goods

Units

Installed Capacity

Actual Production

Appliances

Nos.

385000

238299

Implants

Nos.

522500

468007

Instruments

Nos.

55000

9607

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Evonik, United Kingdom

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

Customers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

No. of Employees :

150 (Approximately)

 

 

Bankers :

Banker Name

The Cosmos Co-operative Bank Limited

Branch Address

H.O. 269/270, Shaniwar Peth, Pune Through Ajmera Branch,Masulkar Colony, Pimpri, Pune – 411018, 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

 

 

Term loans from banks

6.007

3.620

SHORT TERM BORROWING

 

 

From banks

40.907

36.243

Total

46.914

39.863

 

Auditors :

 

Name :

K V M D S and Associates

Chartered Accountants

Address :

B-101, Sneh Ganga, B-Wing, Shankar Sheth Road, Near Vega Centre, Swargate, Pune – 411037, Maharashtra, India

Tel. No.:

91-20-24445002

Fax No.:

91-20-24445003

E-Mail :

ca.grs.pune@gmail.com

clients@kvmds.org

PAN No.:

AAEFG6367N

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Companies/ Entities in which KMP/ Relatives of KMP can exercise significant influence :
  • Blanks Engineering
  • Medical Development and Engineering
  • Hi Tech Composites

 

 

CAPITAL STRUCTURE

 

As on 29.09.2014

 

Authorised Capital:

No. of Shares

Type

Value

Amount

 

 

 

 

50000

Equity Shares

Rs.100/- each

Rs.5.000 Million

 

Issued, Subscribed & Paid-up Capital:

No. of Shares

Type

Value

Amount

 

 

 

 

45870

Equity Shares

Rs.100/- each

Rs.4.587 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

4.587

4.587

4.587

(b) Reserves & Surplus

117.744

99.491

85.215

(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)

122.331

104.078

89.802

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

23.429

17.812

26.311

(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)

23.429

17.812

26.311

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

40.970

36.423

28.931

(b) Trade payables

14.019

35.123

23.304

(c) Other current liabilities

33.832

28.025

11.885

(d) Short-term provisions

1.179

2.137

13.277

Total Current Liabilities (4)

90.000

101.709

77.397

 

 

 

 

TOTAL

235.760

223.598

193.510

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

53.177

51.054

53.138

(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

0.100

0.100

0.100

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

7.154

5.663

5.841

(e) Other Non-current assets

1.452

0.373

0.051

Total Non-Current Assets

61.883

57.191

59.130

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

119.374

95.522

74.545

(c) Trade receivables

30.823

49.166

42.628

(d) Cash and cash equivalents

22.672

19.784

15.505

(e) Short-term loans and advances

1.008

1.936

1.702

(f) Other current assets

0.000

0.000

0.000

Total Current Assets

173.877

166.408

134.380

 

 

 

 

TOTAL

235.760

223.598

193.510

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

 

 

 

 

Other Income

 

 

 

 

TOTAL

235.558

216.695

185.736

 

 

 

 

 

EXPENSES

206.964

192.509

165.200

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

28.603

24.185

20.535

 

 

 

 

 

TAX

9.277

8.842

7.443

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

19.326

15.343

13.092

 

 

 

 

 

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD 

43.382

30.405

19.671

 

 

 

 

 

APPROPRIATIONS

 

 

 

 

Transfer to General Reserve

0.917

0.917

0.917

 

Dividend

0.156

0.149

0.148

 

Tax on Dividend

1.500

1.300

1.300

 

Balance Carried to the B/S

60.135

43.382

30.405

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

421.32

334.48

285.41

 

Particulars

 

 

 

31.03.2015

Sales Turnover (Approximately)

 

 

267.500

 

The above information has been parted by Ms. Sampada Deshmukh (Import-Export Incharge).

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

7.108

7.365

NA

Cash generated from operations

NA

NA

NA

Net cash flows from

NA

NA

NA

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT/Total Income)

(%)

8.20

7.08

7.05

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

12.14

10.82

10.62

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.23

0.23

0.23

 

 

 

 

 

Debt Equity Ratio

(Total Debt/Networth)

 

0.53

0.52

0.62

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.93

1.64

1.74

 

 

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

4.587

4.587

4.587

Reserves & Surplus

85.215

99.491

117.744

Net worth

89.802

104.078

122.331

 

 

 

 

long-term borrowings

26.311

17.812

23.429

Short term borrowings

28.931

36.424

40.970

Total borrowings

55.242

54.236

64.399

Debt/Equity ratio

0.615

0.521

0.526

 

 

 

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

185.736

216.695

235.558

 

 

16.668

8.705

 

 

 

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

185.736

216.695

235.558

Profit

13.092

15.343

19.326

 

7.05%

7.08%

8.20%

 

 

 

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

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 four 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

 

Note:

Registered address has been shifted from the Sr. No. 126/4 127 at and Postamralewadi Village –Ambarvet, Taluka – Mulshi, Pune – 411052, Maharashtra, India to the present address w.e.f. 01.08.2007

 

 

UNSECURED LOAN

(Rs. In Million)

Particulars

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

From related parties

17.056

13.825

Deferred payment liabilities

0.366

0.367

SHORT TERM BORROWING

 

 

Deposits

0.063

0.180

Total

17.485

14.372

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10522744

08/08/2014

1,734,000.00

THE COSMOS CO-OPERATIVE BANK LIMITED

H.O.-269/270,SHANIWAR PETH,DEVI HEIGHTS,PUNE, BRANCH OFFICE AT AJMERA, PUNE - 411018, MAHARASHTRA, INDIA

C23404031

2

10522745

08/08/2014

5,328,000.00

THE COSMOS CO-OPERATIVE BANK LIMITED

H.O.-269/270,SHANIWAR PETH,DEVI HEIGHTS,PUNE, BRANCH OFFICE AT AJMERA, PUNE - 411018, MAHARASHTRA, 
INDIA

C23409576

3

10522750

22/06/2015 *

6,400,000.00

THE COSMOS CO-OPERATIVE BANK LIMITED

R.O.AT COSMOS TOWERS,PLOT NO.6,ICS COLONY, GANESH 
KHIND ROAD THROUGH AJMERA BRANCH, PUNE - 411018, MAHARASHTRA, INDIA

C59163162

4

10448573

02/09/2013 *

9,741,000.00

THE COSMOS CO-OPERATIVE BANK LIMITED

H.O.:269/270,SHANIWAR PETH,PUNE, THROUGH AJMERA BRANCH,MASULKAR COLONY, PIMPRI, PUNE - 
411018, MAHARASHTRA, INDIA

B84846997

5

10381121

11/10/2012

4,000,000.00

THE COSMOS CO-OPERATIVE BANK LIMITED

H.O.AT 269/270, SHANIWAR PETH,PUNE, AJMERA BRANCH 
,MASULKAR COLONY, PIMPRI, PUNE  - 411018, MAHARASHTRA, INDIA

B59925859

6

10264753

15/01/2011

10,600,000.00

THE COSMOS CO-OPERATIVE BANK LIMITED (AJMERA BRANCH )

269/270, SHANIWAR PETH, PUNE - 411030, MAHARASHTRA, INDIA

B05335732

7

10082776

04/04/2012 *

5,000,000.00

THE COSMOS CO-OPERATIVE BANK LIMITED (AJMERA BRANCH)

269/270, SHANIWAR PETH, PUNE - 411030, MAHARASHTRA, INDIA

B38590352

8

80032574

07/11/2007 *

1,500,000.00

COSMOS CO-OPERATIVE BANK LIMITED

269/270 SHANIWAR PETH, THROUGH PAUD ROAD BRANCH, PUNE - 411030, MAHARASHTRA, INDIA

A30071310

9

80032575

07/11/2007 *

1,000,000.00

COSMOS CO-OPERATIVE BANK LIMITED

269/270 SHANIWAR PETH, THROUGH PAUD ROAD BRANCH, PUNE - 411030, MAHARASHTRA, INDIA

A30612857

10

80032573

30/03/2011 *

6,500,000.00

THE COSMOS CO-OPERATIVE BANK LIMITED (AJMERA BRANCH )

269/270, SHANIWAR PETH, PUNE - 411030, MAHARASHTRA, INDIA

B11059888

 

* Date of charge modification

 

 

FIXED ASSETS

 

  • Land
  • Building
  • Plant and Machinery
  • Computer
  • Software
  • Vehicle
  • Office Equipment
  • Furniture and Fixtures

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 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.64.78

UK Pound

1

Rs.99.54

Euro

1

Rs.73.08

 

 

INFORMATION DETAILS

 

Information Gathered by :

PRT

 

 

Analysis Done by :

RAS

 

 

Report Prepared by :

PNM

 

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

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

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

48

 

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.