MIRA INFORM REPORT

 

 

Report No. :

345936

Report Date :

23.10.2015

 

 

IDENTIFICATION DETAILS

 

Name :

PV POWER TECHNOLOGIES PRIVATE LIMITED

 

 

Registered Office :

Unit No. GJ-14, SDF VII, Seepz Sez, Andheri (East) Mumbai – 400096, Maharashtra

Mob. No.:

91-22-42214800

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

22.01.2008

 

 

Com. Reg. No.:

11-178125

 

 

Capital Investment / Paid-up Capital :

Rs. 10.100 Million

 

 

CIN No.:

[Company Identification No.]

U40102MH2008PTC178125

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUMP24670C

 

 

PAN No.:

[Permanent Account No.]

AAECP5113E

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer and Exporter of Semi-Conductor Grade Photo Voltaic Cell Modules and solar Modules.

 

 

No. of Employees :

100 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca (12)

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Exist

 

 

Comments :

Subject is an established company incorporated during the year 2008, engaged in manufacturing and exporting of semi-conductor grade photovoltaic cell modules and solar modules, etc. It has moderate track.

 

The company has shown improvement in its operational performance by earing profit of Rs. 4600 Million during the year 2014 as against loss od Rs. 1.200 Million incurred from its previous year.

 

However, rating remains constrained on account of company’s weak financial position marked by its eroded net worth base and increase in external borrowing taken during the year 2014.

 

Business is active. Payments are reported to be slow.

 

In view of weak financial position, the company can be considered for business dealings on safe and secured 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 (GENERAL DETAILS)

 

Name :

Ms. Manisha

Designation :

Marketing Head

Contact No.:

91-22-42214800

Date :

19.10.2015

 

 

LOCATIONS

 

Registered Corporate Office/ Factory :

Unit No. GJ-14, SDF VII, Seepz Sez, Andheri (East) Mumbai – 400096, Maharashtra, India

Tel. No.:

91-22-42214800

Fax No.:

91-22-42214801

E-Mail :

info@pvpowertech.com

jimmi@pvpowertech.com

Website :

http://www.pvpowertech.com

 

 

DIRECTORS

 

AS ON 30.09.2014

 

Name :

Mr. Pushpak Vaghjibhai Desai

Designation :

Director

Address :

301, 3rd Floor, Hira Kunj, Shaheed Bhagat Singh Marg, Vileparle (West), Mumbai - 400056, Maharashtra, India

Date of Birth/Age :

29.01.1978

Date of Appointment :

22.01.2008

DIN No.:

00370384

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

Company/ LLP Status

Defaulting status

1

U36900MH1999PTC118993

SUNDARAM JEWELS PRIVATE LIMITED

Managing director

09/10/2000

09/10/2000

Active

NO

2

U40102MH2008PTC178125

PV POWER TECHNOLOGIES PRIVATE LIMITED

Director

22/01/2008

22/01/2008

Active

NO

 

 

Name :

Mr. Aalok Dilip Shanghvi

Designation :

Director

Address :

801, Abhay Building, Jvpd Scheme, Flat No: 51, Nutanlakshmi Co-Operative Housing Society, Vile Parle (West), Mumbai - 400049, Maharashtra, India

Date of Birth/Age :

21.09.1984

Date of Appointment :

22.01.2008

DIN No.:

01951829

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

Company/ LLP Status

Defaulting status

1

U40102MH2008PTC178125

PV POWER TECHNOLOGIES PRIVATE LIMITED

Director

22/01/2008

22/01/2008

Active

NO

2

U24100MH2012FTC225970

CARACO PHARMACEUTICALS PRIVATE LIMITED

Director

12/01/2012

12/01/2012

Active

NO

3

AAA-2389

SOLAR POWER TECHNOLOGIES INDIA LLP

Designated Partner

28/09/2010

28/09/2010

Active

NO

 

 

Name :

Mr. Jimmi Vaghji Desai

Designation :

Director

Address :

301, 3rd Floor, Hira Kunj,, Shaheed Bhagat Singh Marg, Vile Parle (West), Mumbai, 400056, Maharashtra, India

Date of Birth/Age :

13.07.1984

Date of Appointment :

15.07.2009

DIN No.:

02623717

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

Company/ LLP Status

Defaulting status

1

U40102MH2008PTC178125

PV POWER TECHNOLOGIES PRIVATE LIMITED

Director

15/07/2009

13/04/2009

Active

NO

2

U36910MH2011PTC225352

RAJ GEMS AND JEWELRY PRIVATE LIMITED

Director

23/12/2011

23/12/2011

Active

NO

 

 

KEY EXECUTIVES

 

Name :

Ms. Manisha

Designation :

Marketing Head

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2014

 

Names of Shareholders

No. of Shares

 

Aalok Shanghvi

1

Privilege Trading Private Limited, India

4999

Pushpak Desai

1

Vinod Desai

2

Sundaram Jewels Private Limited, India

4997

Total

 

10000

 

 

AS ON 31.03.2015

 

Names of Allottees

No. of Shares

 

Aalok Dilip Shanghvi

500000

Sundaram Jewels Private Limited

500000

 

 

Total

 

1000000

 

 

AS ON 30.09.2014

 

Equity Share Breakup

Percentage of Holding

Category

 

Bodies corporate

99.96

Directors or relatives of directors

0.04

 

 

Total

 

100.00

 

 

 

 

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Exporter of Semi-Conductor Grade Photo Voltaic Cell Modules and solar Modules.

 

 

Brand Names :

--

 

 

Agencies Held :

--

 

 

Exports :

 

Products :

Finished Goods

Countries :

·         Germany

Italy

European Countries

 

 

Imports :

--

 

 

Terms :

 

Selling :

L/C, Cheque and Credit

 

 

Purchasing :

L/C, Cheque and Credit

 

 

PRODUCTION STATUS (AS ON 31.03.2013)

 

Particulars

Licensed Capacity

Installed Capacity

Actual Production

Solar Photovoltaic Modules

62500

45000

15185

 

 

GENERAL INFORMATION

 

Suppliers :

Reference:

Not Divulged

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

 

Customers :

End Users and OEM’s

 

Reference:

Not Divulged

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

 

No. of Employees :

100 (Approximately)

 

 

Bankers :

Bank Name:

Indusind Bank Limited

Branch:

Indusind House, 425, Dadasaheb Bhadkamkar Marg, Mumbai – 400004, 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 A/C Opening):

Not Divulged

Average Balance Maintained (Optional):

Not Divulged

Credit Facilities Enjoyed (Cc/Od/Term Loan):

Not Divulged

Account Operation:

Not Divulged

Remarks:

Not Divulged

 

·         Union Bank of India

Mumbai Samachar Marg Branch,, 66/80, Mumbai Samachar Marg, Fort, Mumbai - 400023, Maharashtra, Inda

 

 

Facilities :

SECURED LOANS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

SHORT TERM BORROWINGS

 

 

From Banks

(Working Capital demand loan)

94.491

83.028

 

 

 

Total

 

94.491

83.028

 

Auditors :

 

Name :

J P Wankadia and Company

Chartered Accountants

Address :

32C, Mulla Manzil, 1st Floor, Balaram Street, Grant Road, Mumbai – 400007, Maharashtra, India

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

AAIPW5872E

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Associates/Subsidiaries :

Not Available

 

 

CAPITAL STRUCTURE

 

AFTER 30.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1010000

Equity Shares

Rs. 10/- each

Rs. 10.100 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1010000

Equity Shares

Rs. 10/- each

Rs. 10.100 Million

 

 

 

 

 

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

10,000

Equity Shares

Rs. 10/- each

Rs. 0.100 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

10,000

Equity Shares

Rs. 10/- each

Rs. 0.100 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

(CONSOLIDATED)

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

0.100

0.100

0.100

(b) Reserves & Surplus

(17.459)

(22.075)

(20.821)

(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)

(17.359)

(21.975)

(20.721)

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

126.585

126.585

126.585

(b) Deferred tax liabilities (Net)

7.874

6.951

6.400

(c) Other long term liabilities

0.013

0.003

0.000

(d) long-term provisions

0.294

0.158

0.138

Total Non-current Liabilities (3)

134.766

133.697

133.123

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

94.491

83.028

92.087

(b) Trade payables

65.568

23.628

18.812

(c) Other current liabilities

6.571

15.354

5.485

(d) Short-term provisions

0.204

0.042

0.076

Total Current Liabilities (4)

166.834

122.052

116.460

 

 

 

 

TOTAL

284.241

233.774

228.862

 

 

 

 

II.      ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

80.287

84.432

87.925

(ii) Intangible Assets

0.139

0.041

0.060

(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

1.492

1.492

1.492

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

0.000

0.000

0.000

(e) Other Non-current assets

0.274

0.727

0.215

Total Non-Current Assets

82.192

86.692

89.692

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

22.834

43.912

21.488

(c) Trade receivables

161.889

71.378

103.695

(d) Cash and cash equivalents

9.868

3.028

1.166

(e) Short-term loans and advances

0.191

0.044

0.010

(f) Other current assets

7.267

28.720

12.811

Total Current Assets

202.049

147.082

139.170

 

 

 

 

TOTAL

284.241

233.774

228.862

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

Revenue from Operation

496.096

173.102

 

 

 

Other Income

3.241

0.668

 

 

 

TOTAL                        

499.337

173.770

368.052

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

TOTAL                                    

493.798

174.473

360.210

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

5.539

(0.703)

7.842

 

 

 

 

 

Less

TAX                                                     

0.923

0.551

1.707

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX

4.616

(1.254)

6.135

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Raw Materials

69.358

41.755

0.000

 

 

 

 

 

 

Earnings/ (Loss) Per Share (Rs.)

461.60

(125.40)

613.50

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

NA

NA

NA

 

 

 

 

Cash Generated from Operations

NA

NA

NA

 

 

 

 

Net Cash Flow from used in Operations

NA

NA

NA

 

KEY RATIOS

 

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

0.93

(0.72)

NA

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

1.96

(0.30)

3.45

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

(0.32)

0.03

(0.38)

 

 

 

 

 

Debt Equity Ratio

(Total Debt/Networth)

 

(12.74)

(9.54)

(10.55)

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.21

1.21

1.20

 

 

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

0.100

0.100

0.100

Reserves & Surplus

(20.821)

(22.075)

(17.459)

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

0.000

0.000

0.000

Net worth

(20.721)

(21.975)

(17.359)

 

 

 

 

Long-term borrowings

126.585

126.585

126.585

Short term borrowings

92.087

83.028

94.491

Total borrowings

218.672

209.613

221.076

Debt/Equity ratio

(10.553)

(9.539)

(12.736)

 

 

 

 

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

368.052

173.770

499.337

 

 

(52.787)

187.355

 

 

 

 

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

368.052

173.770

499.337

Profit/ (Loss)

6.135

(1.254)

4.616

 

1.67%

(0.72%)

0.92%

 

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check list by info agents

Available in Report

(Yes/No)

1

Year of establishment

Yes

2

Constitution of the entity -Incorporation details

Yes

3

Locality of the entity

Yes

4

Premises details

No

5

Buyer visit details

--

6

Contact numbers

Yes

7

Name of the person contacted

Yes

8

Designation of contact person

Yes

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

11

Pan Card No. of Proprietor / Partners

No

12

Voter Id Card No. of Proprietor / Partners

No

13

Type of business

Yes

14

Line of Business

Yes

15

Export/import details (if applicable)

Yes

16

No. of employees

Yes

17

Details of sister concerns

No

18

Major suppliers

No

19

Major customers

No

20

Banking Details

Yes

21

Banking facility details

Yes

22

Conduct of the banking account

--

23

Financials, if provided

Yes

24

Capital in the business

Yes

25

Last accounts filed at ROC, if applicable

Yes

26

Turnover of firm for last three years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

No

29

Profitability for last three years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

No

32

Litigations that the firm/promoter involved in

Yes

33

Market information

--

34

Payments terms

Yes

35

Negative Reporting by Auditors in the Annual Report

No

 

 

LITIGATIONS DETAILS

 

HIGH COURT OF BOMBAY

 

CASE DETAILS

BENCH: BOMBAY

PRESENTATION DATE : 10.09.2015

LODGING NO: SJL/70/2015 FILING DATE: 10.09.2015     REG. NO.: SJL/70/2015 REG. DATE: 10.09.2015

MAIN MATTER

LODGING NO: SSL/639/2015                                                     REG. NO.: SS/606/2015

 

PETITIONER: KOMAX SOLAR INC   RESPONDENT: PV POWER TECHNOLOGIES PRIVATE LIMITED

RESP. ADV: TEJESH DANDE AND ASSOCIATES (0)

DISTRICT: OUTSIDE MAHARASHTRA

BENCH: SINGLE

STATUS: PRE-ADMISSION                  CATEGORY: SUMMONSES FOR JUDGMENT

ACT: Code of Civil Procedure 1908        

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10183141

18/09/2015 *

225,000,000.00

INDUSIND BANK LIMITED

2401 GEN THIMMAYYA ROAD, CONTONMENT, PUNE - 411001, MAHARASHTRA, INDIA

C67017483

2

10145099

14/02/2009

50,000,000.00

UNION BANK OF INDIA

MUMBAI SAMACHAR MARG BRANCH, 66/80, MUMBAI SAMACHAR MARG, FORT, MUMBAI - 400023, MAHARASHTRA, INDIA

A57474272

3

10147094

14/02/2009

90,000,000.00

UNION BANK OF INDIA

MUMBAI SAMACHAR MARG BRANCH,, 66/80, MUMBAI SAMAC 
HAR MARG, FORT, MUMBAI - 400023, MAHARASHTRA, INDIA

A57538092

4

10106893

21/05/2008

43,600,000.00

UNION BANK OF INDIA

MUMBAI SAMACHAR MARG BRANCH, 66/80, MUMBAI SAMAC 
HAR MARG, MUMBAI - 400023, MAHARASHTRA, INDIA

A39980156

 

* Date of charge modification

 

 

UNSECURED LOANS

 

PARTICULARS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

LONG-TERM BORROWINGS

 

 

From Shareholders

56.479

56.479

From Others

70.106

70.106

 

 

 

Total

 

126.585

126.585

 

 

CHANGE OF ADDRESS:

 

The Registered Office of the Company has been shifted from 301, Hira Kunj, Veer Bhagat Singh Marg, Vile Parle (West), Mumbai – 400057, Maharashtra, India to the present address w.e.f. 13.10.2008.

 

 

PERFORMANCE

 

During the year, the Company have registered total Revenue of Rs. 496.096 Million as compared to Rs. 173.102 Million in the previous financial year. The Company has made net profit of Rs. 4.616 Million for the financial year, recovering steadily after the loss incurred in the previous financial year.

 

 

FIXED ASSETS:

 

·         Air Conditioners

·         Computers

·         Electrical Fittings

·         Furniture and Fixtures

·         Building

·         Office Equipment’s

·         Plant and Machinery

·         Vehicles

 

 

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 records 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.100.54

Euro

1

Rs.73.97

 

 

INFORMATION DETAILS

 

Information Gathered by :

SUP

 

 

Analysis Done by :

HNA

 

 

Report Prepared by :

ARC

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

3

PAID-UP CAPITAL

1~10

2

OPERATING SCALE

1~10

2

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

1

--PROFITABILIRY

1~10

1

--LIQUIDITY

1~10

1

--LEVERAGE

1~10

1

--RESERVES

1~10

--

--CREDIT LINES

1~10

1

--MARGINS

-5~5

--

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

YES

--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

 

12

 

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.