MIRA INFORM REPORT

 

 

Report No. :

346216

Report Date :

23.10.2015

 

IDENTIFICATION DETAILS

 

Name :

LINIT EXPORTS PRIVATE LIMITED

 

 

Registered Office :

Unit No. B, 112/113, 1st Floor, Western Edge 2, Off Western Express Highway, Borivali (East), Mumbai – 400066, Maharashtra

Tel. No.:

91-22-40538001 / 2

 

 

Country :

India

 

 

Financials (as on) :

31.03.2013

 

 

Date of Incorporation :

30.10.1998

 

 

Com. Reg. No.:

11-116991

 

 

Capital Investment / Paid-up Capital :

Rs.45.000 Million

 

 

CIN No.:

[Company Identification No.]

U51311MH1998PTC116991

 

 

IEC No.:

0398046344

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AAACL4021F

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Subject is engaged in manufacturing engineering components used in pumps and valves and for general engineering applications.

 

 

No. of Employees :

90 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (45)

 

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 is an established company incorporated in the year 1998. It has satisfactory track.

 

As per registrar of companies the date of balance sheet (i.e. financial field) is shown as 31.03.2014 but documents related to financial for the year ending 2014 is not available from any source.

 

As per the available financial of the year 2013, the company has reported slightly high debt level, but has earned decent profit margin.

 

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

 

The company can be considered for business dealings with 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

CRISIL

Rating

Long term ratings = BB+

Rating Explanation

Inadequate credit quality and high credit risk.

Date

November 24, 2014

 

Rating Agency Name

CRISIL

Rating

Short term rating = A4+

Rating Explanation

Minimal degree of safety and very high credit risk.

Date

November 24, 2014

 

 

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. Sayali Sawant

Designation :

Account Manager

Contact No.:

91-22-40538000

Date :

21.10.2015

 

 

LOCATIONS

 

Registered Office :

Unit No. B, 112/113, 1st Floor, Western Edge 2, Off Western Express Highway, Borivali (East), Mumbai – 400066, Maharashtra, India

Tel. No.:

91-22-40538001 / 2

Mobile No.:

91-9821161388 (Mr. Nitin Karjatkar)

Fax No.:

91-22-28488001 / 6899

E-Mail :

sayali@linitindia.com

nitin@linitindia.com

Website :

www.linitindia.com

Area :

5000 Sq. Ft.

Location :

Owned

Locality :

Commercial

 

 

Factory :

Survey No.-15, K.T. Sapphire, Hisso No.-1, Waliv Village, Thane – 401208, Maharashtra, India

Location :

Owned

 

 

DIRECTORS

 

As on 29.09.2014

 

Name :

Mr. Nitin Vaijnath Karjatkar

Designation :

Managing Director

Address :

48-2104, EMP Haley Towers, Thakur Village Kandivali (East), Mumbai - 400101, Maharashtra, India

Date of Birth/Age :

11.08.1966

Date of Appointment :

30.10.1998

DIN No.:

00157756

 

 

Name :

Mrs. Lily Nitin Karjatkar

Designation :

Director

Address :

48-2104, EMP Haley Towers, Thakur Village Kandivali (East), Mumbai - 400101, Maharashtra, India

Date of Birth/Age :

14.09.1968

Date of Appointment :

30.10.1998

DIN No.:

00341618

 

 

Name :

Mr. Kiran Vaijanath Karjatkar

Designation :

Director

Address :

Flat No A-1401, 14th Floor , Videocon Towers, Thakur Complex , Kandivali (East) , Mumbai - 400101, Maharashtra, India

Date of Birth/Age :

03.04.1976

Date of Appointment :

12.02.2007

DIN No.:

01655388

 

 

Name :

Mr. Ravi Vaijanath Karjatkar

Designation :

Additional Director

Address :

48/2104, Evershine Halley Tower Cooperative Hsg. Soc., Thakur Village, Kandivali (East), Mumbai - 400101, Maharashtra, India

Date of Appointment :

31.03.2015

DIN No.:

06393575

 

 

KEY EXECUTIVES

 

Name :

Ms. Sayali Sawant

Designation :

Account Manager

 

 

MAJOR SHAREHOLDERS

 

As on 29.09.2014

 

Names of Shareholders

No. of Shares

%age holding

Lily Nitin Karjatkar

1575000

35.00

Nitin Vaijnath Karjatkar

2925000

65.00

Total

4500000

100.00

 

 

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 :

Subject is engaged in manufacturing engineering components used in pumps and valves and for general engineering applications.

 

 

Products :
  • Pump Components
  • Valve Components
  • CNC Turned Components
  • Pipe and Casting Fitting
  • Rubber Moulded Part
  • Stainless Steel Fasteners
  • Investment Casting
  • Machined Rolled Ring

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

 

Products :

Finished Goods

Countries :
  • Germany
  • Italy

 

 

Imports :

 

Products :

Raw Material

Countries :

Germany

 

 

Terms :

 

Selling :

Cash, L/C and Credit

 

 

Purchasing :

Cash, L/C and Credit

 

PRODUCTION STATUS = NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Bharat Steel Yard Private Limited, Mumbai, Maharashtra, India

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 :

Wholesalers, Retailers and Manufacturer

Reference :

Schafer and Peters GMBH, Germany

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 :

90 (Approximately)

 

 

Bankers :

Banker Name

State Bank of India

Branch Address

Malad (West), Mumbai, 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

 

  • Bassein Catholic Co-Operative Bank Limited, Kudus (Wada) Branch, Wada, Palghar, Thane – 401207, Maharashtra, India

 

  • Small Industries Development Bank of India, 11-13 Atlanta, 1st Floor 209, V. K. Vhah Marg, Nariman Point, Mumbai – 400021, Maharashtra, India

 

 

Facilities :

(Rs. In Million)

SECURED LOAN

As on

31.03.2013

As on

31.03.2012

LONG TERM BORROWING

 

 

Term Loans from Banks

 

 

Loan from Bassein Catholic Co-operative Bank Limited (Interest @11.5%)

26.245

31.682

Loan from Bassein Catholic Co-operative Bank Limited (Interest @12%)

10.657

5.456

Loan from foreign Exchange (Buyer’s Credit)

37.563

34.442

Loan from ICICI Bank (Interest @11%)

1.292

3.994

Loan from Bassein Catholic Co-operative Bank Limited

9.825

0.000

Loan from Bassein Catholic Co-operative Bank Limited

7.004

0.000

Loan from SBI Foreign Exchange (Buyer’s Credit) EURO

19.342

4.581

Loan from SIDBI (Interest @12%)

0.000

0.176

Loan from SIDBI (Interest@9.5%)

1.331

2.310

Loan from SIDBI (Interest@10%)

0.530

1.509

Total

113.789

84.150

 

Auditors :

 

Name :

Khandekar and Associates

Chartered Accountants

Address :

Saraswati Bhuvan, Sahakar Road, Tejpal Scheme Road, Vile Parle (East), Mumbai - 400057, Maharashtra, India

Tel. No.:

91-22-26625327 / 26637758

E-mail :

gdjogiekar@hotmail.com

PAN No.:

AAJPJ4328F

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Subsidiary (As on 31.03.2013 :

Solcast Precision Private Limited

 

 

Other Related Party (As on 31.03.2013) :

Linit Technology Private Limited

 

 

CAPITAL STRUCTURE

 

As on 29.09.2014

 

Authorised Capital:

No. of Shares

Type

Value

Amount

 

 

 

 

4500000

Equity Shares

Rs.10/- each

Rs.45.000 Million

 

Issued, Subscribed & Paid-up Capital:

No. of Shares

Type

Value

Amount

 

 

 

 

4500000

Equity Shares

Rs.10/- each

Rs.45.000 Million

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

31.03.2013

31.03.2012

31.03.2011

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

45.000

45.000

36.000

(b) Reserves & Surplus

99.791

80.108

78.968

(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)

144.791

125.108

114.968

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

243.866

202.142

193.528

(b) Deferred tax liabilities (Net)

12.292

8.473

8.365

(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)

256.158

210.615

201.893

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

0.000

0.000

0.000

(b) Trade payables

53.292

49.593

51.205

(c) Other current liabilities

0.000

0.109

0.000

(d) Short-term provisions

8.520

4.679

2.786

Total Current Liabilities (4)

61.812

54.381

53.991

 

 

 

 

TOTAL

462.761

390.104

370.852

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

208.744

170.724

175.324

(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

1.100

1.100

0.500

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

19.530

8.510

1.831

(e) Other Non-current assets

0.012

0.011

0.167

Total Non-Current Assets

229.386

180.345

177.822

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

107.717

104.294

100.815

(c) Trade receivables

94.941

74.968

68.962

(d) Cash and cash equivalents

2.255

6.283

0.888

(e) Short-term loans and advances

0.812

0.655

0.692

(f) Other current assets

27.650

23.559

21.673

Total Current Assets

233.375

209.759

193.030

 

 

 

 

TOTAL

462.761

390.104

370.852

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2013

31.03.2012

31.03.2011

 

SALES

 

 

 

 

Income

570.896

544.287

402.630

 

Other Income

12.505

5.898

1.994

 

TOTAL

583.401

550.185

404.624

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

335.116

346.997

301.629

 

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

0.000

0.000

(65.158)

 

Employees benefits expense

16.891

14.150

0.000

 

Other expenses

156.782

137.254

101.020

 

TOTAL

508.789

498.401

337.491

 

 

 

 

 

Less

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

74.612

51.784

67.133

 

 

 

 

 

Less

FINANCIAL EXPENSES

20.771

16.788

10.098

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

53.841

34.996

57.035

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

25.341

19.637

14.705

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

28.500

15.359

42.330

 

 

 

 

 

Less

TAX

8.818

5.218

13.846

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

19.682

10.141

28.484

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

F.O.B. Value of Exports

509.364

NA

NA

 

TOTAL EARNINGS

509.364

NA

NA

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

4.37

2.25

6.32

 

Particulars

 

 

31.03.2015

31.03.2014

Sales Turnover (Approximately)

 

600.000

530.000

 

Expected Sales (2015-16): Rs.700.000 Million

 

The above information has been parted by Mr. Sayali Sawant (Account Manager)

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2013

31.03.2012

31.03.2011

Current Maturities of Long term debt

NA

NA

NA

Cash generated from operations

NA

NA

NA

Net cash flows from

NA

NA

NA

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2013

31.03.2012

31.03.2011

Net Profit Margin

(PAT/Sales)

(%)

3.45

1.86

7.07

 

 

 

 

 

Operating Profit Margin

(PBDIT / Sales)

(%)

13.07

9.51

16.67

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

6.17

3.95

11.43

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.20

0.12

0.37

 

 

 

 

 

Debt Equity Ratio

(Total Debt/Networth)

 

1.68

1.62

1.68

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

3.78

3.86

3.58

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2011

31.03.2012

31.03.2013

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

36.000

45.000

45.000

Reserves & Surplus

78.968

80.108

99.791

Net worth

114.968

125.108

144.791

 

 

 

 

long-term borrowings

193.528

202.142

243.866

Short term borrowings

0.000

0.000

0.000

Total borrowings

193.528

202.142

243.866

Debt/Equity ratio

1.683

1.616

1.684

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2011

31.03.2012

31.03.2013

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

402.630

544.287

570.896

 

 

35.183

4.889

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2011

31.03.2012

31.03.2013

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

402.630

544.287

570.896

Profit

28.484

10.141

19.682

 

7.07%

1.86%

3.45%

 

 

 

 

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

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

No

26

Turnover of firm for last five 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:

The Registered address has been shifted from the 310-316, Shree Krishna Industrial Estate, Near Dahisar Toll Post, Ketki Pada Dahisar (East), Mumbai – 400068, Maharashtra, India to the present address w.e.f. 22.12.2014

 

 

UNSECURED LOAN

(Rs. In Million)

Particulars

As on

31.03.2013

As on

31.03.2012

LONG TERM BORROWING

 

 

Other Parties

 

 

Lily Karjatkar

8.354

4.292

Nitin Karjatkar

10.578

2.926

Usha Karjatkar

0.072

0.000

Ravi Karjatkar

0.099

0.000

Kiran Karjatkar

0.077

0.000

Borrowings

 

 

Export Packing Credit

100.833

100.700

Export Packing Credit

10.064

10.074

Total

130.077

117.992

 

 

INDEX OF CHARGES

 

S. NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10514542

05/08/2014

55,000,000.00

BASSEIN CATHOLIC CO-OPERATIVE BANK LIMITED

KUDUS (WADA) BRANCH, WADA, PALGHAR, THANE – 401207, MAHARASHTRA , INDIA

C16181356

2

10299538

25/09/2012 *

19,787,000.00

BASSEIN CATHOLIC CO-OPERATIVE BANK LIMITED

MANICKPUR BRANCH, 1ST FLOOR, LAWRENCE SHOPPING CENTER, MANICKPUR, VASAI (WEST), THANE - 401202, MAHARASHTRA , INDIA

B58941287

3

10225745

30/01/2015 *

58,300,000.00

BASSEIN CATHOLIC CO-OPERATIVE BANK LIMITED

MANICKPUR BRANCH, 1ST FLOOR, LAWRENCE SHOPPING CENTER, MANIICKPUR, VASAI (WEST), PALGHAR, THANE - 401207, MAHARASHTRA, INDIA

C43729045

4

80023666

03/04/2012 *

177,100,000.00

STATE BANK OF INDIA

INDUSTRIAL FINANCE BRANCH, S. V. ROAD, MALAD (WEST), MUMBAI - 400064, MAHARASHTRA, INDIA

B41545724

 

* Date of charge modification

 

 

FIXED ASSETS

 

  • Air Conditioner
  • Computer
  • Fax Machine
  • Furniture and Fixture
  • Motor Car
  • Office Equipment
  • Television
  • Printer and Scanners
  • Plant and Machinery
  • Office Premises
  • Factory Building

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 records 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.65.15

UK Pound

1

Rs.100.53

Euro

1

Rs.73.97

 

 

INFORMATION DETAILS

 

Information Gathered by :

DIP

 

 

Analysis Done by :

KIN

 

 

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

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILITY 

1~10

6

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

4

--RESERVES

1~10

5

--CREDIT LINES

1~10

4

--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

 

45

 

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.