MIRA INFORM REPORT

 

 

Report No. :

338662

Report Date :

07.09.2015

 

IDENTIFICATION DETAILS

 

Name :

CHHEDA SPECIALITIES FOOD PRIVATE LIMITED

 

 

Registered Office :

Chheda House, Plot No.7, BMC Industrial Estate, Sai Nagar, Near Tata Wasan Service Centre, Kandivali (West), Mumbai – 400067, Maharashtra

Tel. No.:

91-22-28632323/61330800

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

12.07.2005

 

 

Com. Reg. No.:

11-154730

 

 

Capital Investment / Paid-up Capital :

Rs. 37.500 Million

 

 

CIN No.:

[Company Identification No.]

U15130MH2005PTC154730

 

 

IEC No.:

0308071662

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUMC14219C

 

 

PAN No.:

[Permanent Account No.]

AACCC6221G

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer of Indian Snacks Items, Mixture Snacks and Indian Namkeen Items.

 

 

No. of Employees :

100 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (41)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

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

Satisfactory

 

Maximum Credit Limit :

USD 100000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having satisfactory track /

 

Management has witness almost stable revenue base along with fair profit margin of the company in FY14 over previous year. Further, management has successfully wiped off accumulated losses of previous year.

 

However, rating constraints on account of minimal reserve level and slightly high external borrowings in FY14. Overall financial condition of the company is improving.

 

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.

 

 

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 31-03-2013.

 

 

INFORMATION PARTED BY

 

Name :

Mr. Ashok Chheda

Designation :

Director

Contact No.:

91-9922837111

Date :

28.08.2015

 

 

LOCATIONS

 

Registered Office :

Chheda House, Plot No.7, BMC Industrial Estate, Sai Nagar, Near Tata Wasan Service Centre, Kandivali (West), Mumbai – 400067, Maharashtra, India

Tel. No.:

91-22-28632323/61330800

Mobile No.:

91-9922837111 (Mr. Ashok Chheda)

Fax No.:

Not Available

E-Mail :

chheda.specialities@gmail.com

Website :

www.chhedaspecialities.in

Location :

Owned

Locality :

Commercial

 

 

Factory :

Chheda Estate, S. No-115, Ambahi Village, Naor Wada Road Post, Kanchand, Talwada, District Thane – 421303, Maharashtra, India

Tel. No.:

91-25-26653130

 

 

DIRECTORS

 

AS ON: 29.09.2012

 

Name :

Mr. Ashok Mulchand Chheda

Designation :

Director

Address :

A-23, Malhar Apartment Sky Building Village Borsa Pada Road, Opposite Poisur Gymkhana Kandivali (West), Mumbai – 400067, Maharashtra, India

Date of Birth/Age :

30.12.1968

Date of Appointment :

12.07.2005

DIN No.:

01506694

 

 

Name :

Mr. Kishore Mulchand Chheda

Designation :

Director

Address :

A-23, Malhar Apartment Sky Building Village Borsa Pada Road, Opposite Poisur Gymkhana Kandivali (West), Mumbai – 400067, Maharashtra, India

Date of Birth/Age :

06.11.1971

Date of Appointment :

12.07.2005

DIN No.:

01222807

 

 

KEY EXECUTIVES

 

Name :

Heena Vijay Kothari

Designation :

Company Secretary

 

 

 

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON: 29.09.2012

 

Names of Shareholders

 

No. of Shares

Ashok Mulchand Chheda

 

1997000

Kishore Mulchand Chheda

 

1750000

Meeta Ashok Chheda

 

1500

Preeti Kishore Chheda

 

1500

 

 

 

Total

 

3750000

 

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON: 29.09.2012

 

Category

Percentage

Directors or relatives of Directors

100.00

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of Indian Snacks Items, Mixture Snacks and Indian Namkeen Items.

 

 

Products :
  • Indian Snacks Items
  • Mixture Snacks
  • Indian Namkeen Items

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Available

 

 

Imports :

 

Products :

Raw Material

Countries :

China

 

 

Terms :

 

Selling :

Cash and Credit (30/60/90 Days)

 

 

Purchasing :

Cash and Credit (30/60/90 Days)

 

 

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 :

End Users and OEM’s

 

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 :

100 (Approximately)

 

 

Bankers :

Banker Name

NKGSB Co-operative Bank Limited

Branch Address

Shiv Prabha, Shree Sthaneshwar Krupa CHS, Sector No. 1, Charkop, Kandivali (West), Mumbai – 400067, 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

39.972

73.581

from Others

1.647

4.558

SHORT TERM BORROWING

 

 

Loans repayable on demand

 

 

Cash Credit No.21from NKGSB

70.886

40.548

from Others (Financial Instituitions)

0.000

0.417

Total

112.505

119.104

Note:

 

LONG TERM BORROWING:

 

Term Loans from Bank is secured against security of machinery

(of the above, is guaranteed by Directors )

 

SHORT TERM BORROWING:

 

Cash Credit from Bank is secured against hypothecation of stock and book debts and personal immovable properties of Director and Personal Guarantees of Directors.

 

 

Auditors :

 

Name :

Gada and Haria

Chartered Accountant

Address :

5, Framroz Court, 2nd Floor, D.S.P Road, Dadar (C.R.), Mumbai-400014, Maharashtra, India

PAN No.:

AAAFG8427D

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associates/Subsidiaries :

Not Available

 

 

CAPITAL STRUCTURE

 

As On: 29.09.2014

 

Authorised Capital: Rs. 80.000 Million

 

Issued, Subscribed & Paid-up Capital: Rs. 37.500 Million

 

 

AS ON: 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

3750000

Equity Shares

Rs.10/- each

Rs. 37.500 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

3750000

Equity Shares

Rs.10/- each

Rs. 37.500 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

37.500

37.500

25.000

(b) Reserves & Surplus

5.286

(1.813)

(7.348)

(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)

42.786

35.687

17.652

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

41.619

78.139

54.711

(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)

41.619

78.139

54.711

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

97.320

64.413

40.522

(b) Trade payables

26.377

22.748

11.002

(c) Other current liabilities

22.068

1.707

0.000

(d) Short-term provisions

0.623

1.305

2.190

Total Current Liabilities (4)

146.388

90.173

53.714

 

 

 

 

TOTAL

230.793

203.999

126.077

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

111.528

129.687

85.101

(ii) Intangible Assets

0.002

0.000

0.009

(iii) Capital work-in-progress

17.918

0.000

0.000

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

0.795

0.000

0.000

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

0.876

1.013

0.575

(e) Other Non-current assets

0.283

0.087

0.061

Total Non-Current Assets

131.402

130.787

85.746

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.795

0.465

(b) Inventories

65.125

49.068

24.394

(c) Trade receivables

23.853

15.451

8.702

(d) Cash and cash equivalents

7.310

5.646

1.931

(e) Short-term loans and advances

0.358

1.370

4.839

(f) Other current assets

2.745

0.882

0.000

Total Current Assets

99.391

73.212

40.331

 

 

 

 

TOTAL

230.793

203.999

126.077

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

 

 

198.870

 

Other Income

 

 

0.796

 

TOTAL (A)

286.975

258.965

199.666

 

 

 

 

 

Less:

EXPENSES

 

 

 

 

Cost of Materials Consumed

 

 

91.478

 

Purchases of Stock-in-Trade

 

 

76.333

 

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

 

 

(10.665)

 

Employees benefits expense

 

 

4.279

 

Other expenses

 

 

13.898

 

TOTAL (B)

277.889

(Including Financial and Depreciation)

253.370

(Including Financial and Depreciation)

175.323

 

 

 

 

 

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

 (A-B)                                                           (C)

 

 

24.343

 

 

 

 

 

Less:

FINANCIAL EXPENSES (D)

 

 

11.678

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

(C-D)                                                           (E)

 

 

12.665

 

 

 

 

 

Less:

DEPRECIATION/ AMORTISATION (F)

 

 

10.574

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

(E-F)                                                           (G)

9.086

5.595

2.091

 

 

 

 

 

Less:

TAX (H)

1.987

0.000

0.000

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

(G-H)                                                          (I)

7.099

5.595

2.091

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

 1.89

 1.49

0.84

 

Particulars

 

 

 

31.03.2015

Sales Turnover

 

 

300.000

 

 

The above information has been parted by Mr. Ashok Chheda (Director)

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

20.015

NA

NA

Cash generated from operations

44.414

17.625

NA

Net cash flow from (used in) operations

NA

NA

NA

Net cash flow from (used in) operating activities

42.427

17.625

NA

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

2.47

2.16

1.05

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

NA

NA

12.24

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets)

(%)

4.28

2.74

1.66

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.21

0.16

0.12

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

3.25

3.99

5.40

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

0.68

0.81

0.75

 

 

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

25.000

37.500

37.500

Reserves & Surplus

(7.348)

(1.813)

5.286

Net worth

17.652

35.687

42.786

 

 

 

 

long-term borrowings

54.711

78.139

41.619

Short term borrowings

40.522

64.413

97.320

Total borrowings

95.233

142.552

138.939

Debt/Equity ratio

5.395

3.995

3.247

 

 

 

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

199.666

258.965

286.975

 

 

29.699

10.816

 

 

 

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

199.666

258.965

286.975

Profit

2.091

5.595

7.099

 

1.05%

2.16%

2.47%

 

 

 

 

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 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 office of the company has been shifted from A/23 Malhar Apartment, Sky Build Village, Borsa Pada Road, Opposite Poisur Gymkhana, Kandivali (West) Mumbai-400067 Maharashtra India to the present address w. e. f. 01.09.2007

UNSECURED LOAN:

 

PARTICULARS

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

SHORT TERM BORROWINGS:

 

 

Loans and advances from related parties

 

 

Directors and Their Relatives

26.434

23.448

 

 

 

Total

26.434

23.448

 

 

INDEX OF CHARGES:

 

S. No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10544480

02/12/2014

100,000,000.00

NKGSB CO-OPERATIVE BANK LIMITED

SHIV PRABHA, SHREE STHANESHWAR KRUPA CHS, SECTOR NO. 1, CHARKOP, KANDIVALI (WEST), MUMBAI, MAHARASHTRA - 400067, INDIA

C41162066

2

10374190

09/08/2012

22,400,000.00

NKGSB CO-OPERATIVE BANK LIMITED

SHIV PRABHA, SHREE STHANESHWAR KRUPA CHS, SECTOR NO.1, CHARKOP, KANDIVALI (WEST), MUMBAI, MAHARASHTRA - 400067, INDIA

B57132854

3

10250278

07/10/2010

900,000.00

NKGSB CO-OPERATIVE BANK LIMITED

SHIV PRABHA, SHREE STHANESHWAR KRUPA CHS, VITRA PHARMA, SECTOR NO.1, CHARKOP, KANDIVALI (WEST), MUMBAI, MAHARASHTRA - 400067, INDIA

A98172745

4

10233396

19/07/2010

15,100,000.00

NKGSB CO-OPERATIVE BANK LIMITED

SHIV PRABHA, SHREE STHANESHWAR KRUPA CHS, SECTOR NO.1, CHARKOP, KANDIVALI (WEST), MUMBAI, MAHARASHTRA 
- 400067, INDIA

A91282541

5

10136385

15/07/2010 *

62,000,000.00

NKGSB CO-OPERATIVE BANK LIMITED

SHIV PRABHA, SHREE STHANESHWAR KRUPA CHS, SECTOR  NO.1,CHARKOP,

KANDIVALI (WEST), MUMBAI, MAHARASHTRA - 400067, INDIA

A91281477

6

10136394

09/08/2012 *

69,500,000.00

NKGSB CO-O-operative Bank Limited

SHIV PRABHA, SHREE STHANESHWAR KRUPA CHS, SECTOR NO.1, CHARKOP, KANDIVALI (WEST),, MUMBAI, MAHARASHTRA - 400067, INDIA

B57105769

7

10134065

25/11/2008

9,900,000.00

NKGSB CO.OPERATIVE BANK LIMITED

SHIV PRABHA, SHREE STHANESHWAR KRUPA CHS,, SECTOR NO.1, CHARKOP, KANDIVALI (WEST), MUMBAI, MAHARASHTRA - 400067, INDIA

A52895711

8

10080201

09/08/2012 *

135,400,000.00

NKGSB CO-O-operative Bank Limited

SHIV PRABHA, SHREE STHANESHWAR KRUPA CHS,, SECTOR NO.1, CHARKOP, KANDIVALI (WEST), MUMBAI, MAHARASHTRA - 400067, INDIA

B57107260

9

10080202

24/06/2015 *

90,000,000.00

NKGSB CO-OPERATIVE BANK LIMITED

SHIV PRABHA, SHREE STHANESHWAR KRUPA CHS, SECTOR NO. 1, CHARKOP, KANDIVALI (WEST),  MUMBAI, MAHARASHTRA - 400067, INDIA

C59131789

10

10007709

27/04/2006

101,000.00

SUNDARAM FINANCE LIMITED

21 PATULLOS ROAD, , CHENNAI, TAMIL NADU - 600002, INDIA

A01247998

 

 

 

 

 

 

 

 

 

 

 

 

 

FIXED ASSETS:

 

TANGIBLE

 

  • Land at manor
  • Land at Kandivali
  • Buildings
  • Furniture and Fixtures
  • Machines
  • Vehicles
  • Computers

 

 

INTANGIBLE:

 

  • Computer software

 

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. 66.40

UK Pound

1

 Rs. 101.19

Euro

1

Rs. 73.89

 

 

INFORMATION DETAILS

 

Information Gathered by :

PPT

 

 

Analysis Done by :

KIN

 

 

Report Prepared by :

THR

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

4

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

4

--PROFITABILITY

1~10

5

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

4

--RESERVES

1~10

4

--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

NO

--AFFILIATION

YES/NO

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

41

 

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.