MIRA INFORM REPORT

 

 

Report No. :

344994

Report Date :

14.10.2015

 

IDENTIFICATION DETAILS

 

Name :

INSPIRON ENGINEERING PRIVATE LIMITED (w.e.f. 07.03.2007)

 

 

Formerly Known As :

A.T. E. INDUSTRIES PRIVATE LIMITED (w.e.f. 07.03.2003)

 

MOTEX ENGINEERING COMPANY PRIVATE LIMITED

 

 

Registered Office :

Near GIDC, Odhav, Survey No. 320, Ahmedabad - 382415, Gujarat

Tel. No.:

91-79-30212000

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

15.10.1996

 

 

Com. Reg. No.:

04-050337

 

 

Capital Investment / Paid-up Capital :

Rs.9.110 Million

 

 

CIN No.:

[Company Identification No.]

U28920GJ1996PTC050337

 

 

IEC No.:

0397003986

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

AHMI00999F

AHMM00497A

 

 

PAN No.:

[Permanent Account No.]

AAACM7178A

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

The subject is engaged in the business of manufacturing of textile machineries, accessories and spares for textile machineries as well as pressure Dle Cast precision Cornponents and is also providing design services.

 

 

No. of Employees :

450 (Approximately) (300 – Permanent + 150 - Contract)

 

 

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

 

Status :

Satisfactory

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject was incorporated on 15th October, 1996. It is engaged into business of manufacturing and exporting of textile machine and, machinery parts. It has satisfactory track record.

 

As per registrar of companies the due date of balance sheets i.e. financials filed is shown as 31st March, 2015 but the documents related to the financial for the year 2015 are not available from any sources.

 

As per available financial 2014, the company has shown decent networth vase and significant improvement in gearing ratios. Further, it has achieved growth in its sales turnover and profitability of the company.

 

Trade relation are fair. Business is active. Payment are reported to be slow but correct.

 

The company can be considered 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.

 

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

CARE

Rating

SME 2

Rating Explanation

High Creditworthiness

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. Naresh Patel

Designation :

Account Executive

Contact No.:

91-79-30212000

Date :

13.10.2015

 

 

LOCATIONS

 

Registered Office / Factory:

Near GIDC, Odhav, Survey No. 320, Ahmedabad - 382415, Gujarat, India

Tel. No.:

91-79-30212000/ 99/ 30212061

Mobile No:

91-9725019356 (Mr. Alpesh Patel)

Fax No.:

91-79-30212090

E-Mail :

exports@inspiron.co.in

Website :

www.inspiron.co.in

Area :

180000 Sq. Ft.

Location :

Owned

Locality:

Industrial

 

 

DIRECTORS

 

AS ON 07.06.2014

 

Name :

Mr. Prakash Krishnalal Bhagwati

Designation :

Chairman cum Managing Director

Address :

‘’Vatsalya”, Bhagwati Farms, behind Karnavati Club, Mumatpura Village, Post Bopal, Ahmedabad – 380058,  Gujarat, India

Date of Birth/Age :

30.08.1946

Date of Appointment :

15.10.1996

DIN No.:

GJ/10/068/048009

Voter ID No.:

00094852

 

 

Name :

Mr. Amol Prakash Bhagwati

Designation :

Managing Director

Address :

‘’Vatsalya”, Bhagwati Farms, behind Karnavati Club, Mumatpura Village, Post Bopal, Ahmedabad-380 058,  Gujarat, India

Date of Birth/Age :

05.08.1973

Date of Appointment :

29.06.2007

DIN No.:

00128350

 

 

Name :

Ms. Radhika Amol Bhagwati

Designation :

Director

Address :

‘’Vatsalya”, Bhagwati Farms, behind Karnavati Club, Mumatpura Village, Post Bopal, Ahmedabad-380 058,  Gujarat, India

Date of Birth/Age :

27.06.1977

Date of Appointment :

21.07.2007

DIN No.:

01425422

 

 

Name :

Mr. Anjana Prakash Bhagwati

Designation :

Additional Director

Address :

‘’Vatsalya”, Bhagwati Farms, behind Karnavati Club, Mumatpura Village, Post Bopal, Ahmedabad-380 058,  Gujarat, India

Date of Birth/Age :

13.10.1646

Date of Appointment :

07.06.2014

DIN No.:

01425439

 

 

KEY EXECUTIVES

 

Name :

Mr. Naresh Patel

Designation :

Account Executive

 

 

Name :

Parikh  Dave and Associates

Designation :

Company Secretaries

Address :

5-D, 5th Floor, Vardan Exclusive, Next to Vimal House, Near Studium Petrol Pump, Navranpura, Ahmedabad – 380014, Gujarat, India

Tel No.:

91-79-26405454

Email::

info@parikhdave.com

 

 

MAJOR SHAREHOLDERS

 

AS ON 07.06.2014

 

Names of Shareholders

 

No. of Shares

Pramol Traders Holdings Private Limited, India

 

9109999

Prakash Krishnalal Bhagwati Jointly with Mr. Amol Prakash Bhagwati (as nominee of Pramol Traders Holdings Private Limited, India )

 

1

 

 

 

Total

 

9110000

 

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 07.06.2014

 

Category

Percentage

Bodies corporate

100.00

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

The subject is engaged in the business of manufacturing of textile machineries, accessories and spares for textile machineries as well as pressure Dle Cast precision Cornponents and is also providing design services.

 

 

Products :

Item Code No.

Product Description

84482000 and 84439009

Alluminium Alloy Flyers and Endrings

84518011

Stenter Frame and Padder along with accessories/ spares

84389090

Pressure Die Cast Components

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

 

Products :

Finished good

Countries :
  • Indonesia
  • Germany
  • China

 

 

Imports :

 

Products :

Raw Material

Countries :

China

Germany

 

 

Terms :

 

Selling :

Cash, L\C and Credit

 

 

Purchasing :

Cash, L\C and Credit

 

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 :

Wholesalers, Retailers and Manufacturer

 

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 :

450 (Approximately) (300 – Permanent + 150 - Contract)

 

 

Bankers :

Banker Name

Karur Vysya Bank Limited

Branch Address

Sakar Vii, B Block, Ashram Road, Ahmedabad - 380009, Gujarat, 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

SHORT TERM BORROWING

 

 

Working capital loan from Karur Vysya Bank

(Secured by hypothecation of centre current assets of the company and further secured by hypothecation of plant and machinery and other fixed assets of the company excluding land and buildings)

7.288

8.820

Total

7.288

8.820

 

Auditors :

 

Name :

Shah and Shah Associates

Chartered Accountants

Address :

702, Aniket, Near Municipal Market, Navrangpur, Ahmedabad – 380009, Gujarat, India

Tel. No.:

91-79-26465433

Fax No.:

91-79-26406983

E-Mail :

ca@shahandshah.co.in 

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

AAHFS7036F

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Holding Company :

·         Pramol Traders Holdings Private Limited

CIN No.: U67120GJ2006PTC047601

 

 

Entities where control Exists :

·         Erhardt + Leimer (India) Private Limited

(Upto 30th November, 2013)

 

 

CAPITAL STRUCTURE

 

AS ON 07.06.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

35000000

Equity Shares

Rs.1/- each

Rs.35.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

9110000

Equity Shares

Rs.1/- each

Rs.9.110 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

9.110

9.110

9.110

(b) Reserves & Surplus

262.194

188.325

170.087

(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)

271.304

197.435

179.197

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

0.000

0.000

13.945

(b) Deferred tax liabilities (Net)

12.903

12.704

12.158

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

0.447

0.428

0.000

Total Non-current Liabilities (3)

13.350

13.132

26.103

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

7.288

18.609

25.063

(b) Trade payables

77.295

73.712

59.920

(c) Other current liabilities

58.633

36.239

37.368

(d) Short-term provisions

7.627

5.911

5.378

Total Current Liabilities (4)

150.843

134.471

127.729

 

 

 

 

TOTAL

435.497

345.038

333.029

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

144.262

151.762

155.835

(ii) Intangible Assets

6.057

3.053

3.914

(iii) Capital work-in-progress

0.000

0.356

1.504

(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

3.184

2.387

2.279

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

153.503

157.558

163.532

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

62.562

0.000

0.000

(b) Inventories

136.136

115.607

92.833

(c) Trade receivables

55.066

52.084

44.808

(d) Cash and cash equivalents

2.251

3.837

9.177

(e) Short-term loans and advances

20.277

12.734

13.555

(f) Other current assets

5.702

3.218

9.124

Total Current Assets

281.994

187.480

169.497

 

 

 

 

TOTAL

435.497

345.038

333.029

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

Income (Gross Income)

744.011

582.949

596.396

 

 

Other Income

NA

NA

NA

 

 

TOTAL                                     (A)

NA

NA

NA

 

 

 

 

 

Less

EXPENSES

 

 

Office Expenses

NA

NA

NA

 

 

Administrative Expenses

 

 

 

 

 

Advertising Expenses

 

 

 

 

 

TOTAL                                     (B)

NA

NA

NA

 

 

 

 

 

Less

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

129.655

50.534

90.112

 

 

 

 

 

Less

FINANCIAL EXPENSES                                    (D)

1.349

3.778

4.509

 

 

 

 

 

 

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

128.306

46.756

85.603

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

17.939

18.826

13.961

 

 

 

 

 

 

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

110.367

27.930

71.642

 

 

 

 

 

Less

TAX                                                                  (H)

36.499

9.692

23.276

 

 

 

 

 

 

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

73.868

18.238

48.366

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

160.766

142.528

94.162

 

 

 

 

 

 

BALANCE CARRIED TO THE B/S

234.634

160.766

142.528

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

Export Earnings

342.005

256.009

316.873

 

 

Design Service

26.130

14.030

10.066

 

TOTAL EARNINGS

368.135

270.039

326.939

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Raw Materials

40.242

32.531

20.901

 

 

Stores & Spares

1.613

4.733

1.579

 

 

Plant and Machinery

1.607

0.512

10.971

 

TOTAL IMPORTS

43.462

37.776

33.451

 

 

 

 

 

 

Earnings Per Share (Rs.)

8.11

2.00

NA

 

 

Particulars

 

 

 

31.03.2015

Sales Turnover (Approximately)

 

 

800.000

 

 

 

 

 

Expected Sales (2015-2016): Rs.900.000 Million

 

The above information has been parted by Mr. Naresh Patel (Account Executive).

 

 

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

125.462

38.479

71.663

Net cash flows from (used in) operating activities

86.389

30.908

50.702

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Gross Income)

(%)

9.93

3.13

8.11

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

17.43

8.67

15.11

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

25.34

8.10

21.61

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.41

0.14

0.40

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

0.03

0.09

0.22

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.87

1.39

1.33

 

 

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

9.110

9.110

9.110

Reserves & Surplus

170.087

188.325

262.194

Net worth

179.197

197.435

271.304

 

 

 

 

long-term borrowings

13.945

0.000

0.000

Short term borrowings

25.063

18.609

7.288

Total borrowings

39.008

18.609

7.288

Debt/Equity ratio

0.218

0.094

0.027

 

 

 

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)

Gross Income

596.396

582.949

744.011

 

 

(2.255)

27.629

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Gross Income

596.396

582.949

744.011

Profit

48.366

18.238

73.868

 

8.11%

3.13%

9.93%

 

 

 

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

Yes

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

Yes

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 four years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

Yes

29

Profitability for last three years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

Yes

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 office of the company has been shifted from Survey No. 320, Odhav Road, Odhav Ahmedabad – 382415, Gujarat India to the present address w.e.f.01.04.2007

 

 

OPERATIONS

 

During the year the Company has registered the total income from sales and service Rs.744.011 Million as compared to previous year total income of Rs.582.949 Million. The Company has made profit before tax of Rs.110.367 Million compared to previous year Rs.27.929 Million. This has been possible due to spurt in business in India as well as overseas market, favorable product mix and favorable foreign exchange rate.

 

 

FUTURE OUTLOOK

 

With revival of Textile spinning and processing industry in certain parts of the country, Company is expecting improvement in Flyers and Stenter machine business. Company has comfortable order book position for flyers. Company expects better business in coming period on account of special efforts put for marketing the products.

 

 

FORMING PART OF FINANCIAL STATEMENTS:

 

Subject is a private limited company domiciled in India and incorporated under the provisions of the Companies Act, 1956.The Company is engaged in the business of manufacturing of textile machineries, accessories and spares for textile machineries as well as pressure Dle Cast precision Cornponents and is also providing design services.

 

UNSECURED LOAN

 

(Rs. In Million)

Particulars

As on

31.03.2014

As on

31.03.2013

SHORT TERM BORROWING

 

 

Current Maturity of inter-corporate deposit from Holding Company 

0.000

9.789

 

 

 

Total

0.000

9.789

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

90159263

12/06/2009 *

72,500,000.00

KARUR VYSYA BANK LIMITED

SAKAR VII, B BLOCK, ASHRAM ROAD, AHMEDABAD, GUJARAT - 380009, INDIA

A64423890

 

* Date of charge modification

 

 

FIXED ASSETS

 

·         Freehold land

·         Leasehold Land

·         Buildings

·         Plants and Equipment’s

·         Electrical Installations and Fittings

·         Furniture and Fixture

·         Office Equipment’s

·         Computers and Computer Software

·         Vehicles

·         Technical Know-how fees

 

 

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.62.02

UK Pound

1

Rs.99.89

Euro

1

Rs.73.92

 

 

INFORMATION DETAILS

 

Information Gathered by :

DIP

 

 

Analysis Done by :

RAS

 

 

Report Prepared by :

GTA

 

 

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

NO

--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.