MIRA INFORM REPORT
|
Report No. : |
340927 |
|
Report Date : |
12.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
M B ENTERPRISE |
|
|
|
|
Registered
Office : |
51, M B House, Chandrodaya Society, |
|
Tel. No.: |
91-79-26405563/ 26405572/ 26461314/ 26407001/ 26404616 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation: |
24.10.1993 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.132.081 Million (As on
31.03.2013) |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TIN No.: |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Available |
|
|
|
|
Legal Form : |
Partnership Concern with an unlimited liability of the partners |
|
|
|
|
Line of Business
: |
Traders and Importer of Steel Coils and Pharmaceuticals |
|
|
|
|
No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an old partnership concern established in the year 1993,
having satisfactory track. Ms. Vishal Panchal (Finance Manager) claimed that subject has achieved
sales turnover of Rs.2400.000 Million in FY 2014 and same has increased to
Rs.2800.00 Million in FY 2015. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. In view of long track record of business operations, the concern can be
considered for all 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
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities A3 (SO) |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
26.03.2015 |
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. Vishal Panchal |
|
Designation : |
Assistant Manager |
|
Contact No.: |
91-79-26407001 |
LOCATIONS
|
Registered Office : |
51, M B House, Chandrodaya Society, |
|
Tel. No.: |
91-79-26405563/ 26405572/ 26461314/ 26407001/ 26404616 |
|
Mobile No.: |
91-9099002260 (Mr. Keyur) |
|
Fax No.: |
91-79-26400828/ 26405563 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branch Office : |
Near L. M. Transport Sarkhej, Ahmedabad, |
|
|
|
|
Branches: |
Located at: ·
Mumbai ·
Pune ·
·
Chennai ·
·
·
Kolkata |
PARTNERS
|
Name : |
Mr. Manibhai S Patel |
|
Designation : |
Partner |
|
Address : |
7, Friends Colony, Naranpura, Ahmedabad, |
|
|
|
|
Name : |
Mr. Hasmukhbhai S Patel |
|
Designation : |
Partner |
|
Address : |
7, Friends Colony, Naranpura, Ahmedabad, |
|
Qualification: |
B. E. Civil and Electricals |
|
|
|
|
Name : |
Mr. Chirag H. Patel |
|
Designation : |
Partner |
|
Address : |
7, Friends Colony, Naranpura, Ahmedabad, |
|
Qualification: |
B. E. Civil |
|
Voter ID No.: |
GJ/11/06/7/807322 |
|
|
|
|
Name : |
Mr. Girishbhai M. Patel |
|
Designation : |
Partner |
|
Address : |
Nisarg Farm, Opposite ACE Tennis Club, B/h Karnavati Club, Ahmedabad, |
|
Qualification: |
Diploma in Hydraulic Engineering |
|
|
|
|
Name : |
Mr. Malav Girishbhai Patel |
|
Designation : |
Partner |
|
Address : |
Nisarg Farm, Opposite ACE Tennis Club, B/h Karnavati Club, Ahmedabad, |
|
Qualification: |
B.B.A. |
|
|
|
|
Name : |
Mr. Vipin kantilal Patel |
|
Designation : |
Partner |
|
Address : |
2, Nandanvan, Near Shyamvihar, Opposite Devvihar, Thaltej-shilaj Road,
Ahmedabad, Gujarat, India |
|
Qualification: |
B. Com. Inter CA |
|
Voter ID No.: |
GJ/11/06/7/645600 |
|
|
|
|
Name : |
Mr. Aditya Vipin Patel |
|
Designation : |
Partner |
|
Address : |
2, Nandanvan, Near Shyamvihar, Opposite Devvihar, Thaltej-shilaj Road,
Ahmedabad, Gujarat, India |
|
Qualification: |
B.E. MBA (Finance) |
|
|
|
|
Name : |
Mrs. Birva Chiragbhai Patel |
|
Designation : |
Partner |
|
Address : |
7, Friends Colony, Naranpura, Ahmedabad, |
|
Qualification: |
B. Com. CS |
|
Voter ID No.: |
CJL7462765 |
|
|
|
|
Name : |
Mrs. Umaben Girishbhai Patel |
|
Designation : |
Partner |
|
Address : |
Nisarg Farm, Opposite ACE Tennis Club, B/h Karnavati Club, Ahmedabad, |
|
Qualification: |
B. Sc |
|
|
|
|
Name : |
Ms. Aparna M Patel |
|
Designation : |
Partner |
|
Address : |
Nisarg Farm, Opposite ACE Tennis Club, B/h Karnavati Club, Ahmedabad, |
KEY EXECUTIVES
|
Name : |
Mr. Vishal Panchal |
|
Designation : |
Assistant Manager |
BUSINESS DETAILS
|
Line of Business : |
Traders and Importer of Steel Coils and Pharmaceuticals |
|
|
|
|
Products : |
Not Available |
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|
|
|
Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
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Products : |
Steel coil |
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Countries : |
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Terms : |
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Selling : |
Cash, Credit (30/60/90 Days) |
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Purchasing : |
Cash, Credit (30/60/90 Days) |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
End Users, OEM’s
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No. of Employees : |
100 (Approximately) |
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Bankers : |
·
Standard Chartered Bank, Mithakali Branch,
Ahmedabad, Gujarat, India |
|
Auditors : |
|
|
Name : |
Talati and Talati Chartered Accountants |
|
Address : |
Income Tax, Ahmedabad, |
|
Tel. No.: |
91-79-30084523 |
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E-Mail : |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Group Company : |
·
M and B
Engineering Limited 51, M. B. House, Chandrrodaya Society, Stadium Road, Ahmedabad,
Gujarat, India Activity: 1] Supply and Erection of Proflex Steel Roofing 2] Manufacturer, Supply and Erection of Pre Engineered Building Bank: Bank of Baroda, Standard Chartered Bank, Axis Bank and IDBI Bank
·
Phenix Building
Solutions Private Limited 51, M. B. House, Chandrrodaya Society, Stadium Road, Ahmedabad,
Gujarat, India Activity: Supply and Erection of Pre Engineered Building Bank: Bank of Baroda ·
Manibhai and
Brothers 51, M. B. House, Chandrrodaya Society, Stadium Road, Ahmedabad,
Gujarat, India Activity: Construction Bank: Bank of Baroda ·
Manibhai and
Brothers (Sleepers) 51, M. B. House, Chandrrodaya Society, Stadium Road, Ahmedabad,
Gujarat, India Activity: Manufacturer of Railway Sleepers Bank: Bank of Baroda ·
Usha Prestressed
Sleeper Udyog 51, M. B. House, Chandrrodaya Society, Stadium Road, Ahmedabad,
Gujarat, India Activity: Manufacturer of Railway Sleepers Bank: Bank of Baroda ·
Highten Steels 51, M. B. House, Chandrrodaya Society, Stadium Road, Ahmedabad,
Gujarat, India Activity: Trading of Steel, Ventilators, Paints, Insulation Materials
and Consumable Bank: Bank of Baroda ·
Maxim Finance
Private Limited 51, M. B. House, Chandrrodaya Society, Stadium Road, Ahmedabad,
Gujarat, India Activity: Group Financing Bank: Bank of Baroda ·
Manibhai and
Brothers Finance Corporation 51, M. B. House, Chandrrodaya Society, Stadium Road, Ahmedabad,
Gujarat, India Activity: Group Financing Bank: Bank of Baroda |
CAPITAL STRUCTURE
(AS ON 31.03.2013)
|
Capital Investment : |
|
|
Owned : |
Rs.132.081 Million |
|
Borrowed : |
-- |
|
Total : |
Rs.132.081
Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
|
Particulars |
|
31.03.2015 |
31.03.2014 |
|
Sales Turnover (Approximately) |
|
2800.000 |
2400.000 |
|
|
|
|
Due to Market
Fluctuation |
Note: Sole Proprietary and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry.
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Partner’s Capital |
132.081 |
92.985 |
70.884 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
132.081 |
92.985 |
70.884 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
519.665 |
304.406 |
362.979 |
|
|
TOTAL BORROWING |
519.665 |
304.406 |
362.979 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
651.746 |
397.391 |
433.863 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
9.006 |
1.274 |
0.634 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
506.898
|
460.761 |
347.990 |
|
|
Sundry Debtors |
404.530
|
14.522 |
168.503 |
|
|
Cash & Bank Balances |
198.456
|
161.736 |
108.337 |
|
|
Other Current Assets |
0.000
|
0.000 |
4.126 |
|
|
Loans & Advances |
115.353
|
91.624 |
51.182 |
|
Total
Current Assets |
1225.237
|
728.643 |
680.138 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
555.100
|
311.344 |
228.621 |
|
|
Other Current Liabilities |
14.697
|
13.282 |
10.857 |
|
|
Provisions |
12.700
|
7.900 |
7.431 |
|
Total
Current Liabilities |
582.497
|
332.526 |
246.909 |
|
|
Net Current Assets |
642.740
|
396.117 |
433.229 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
651.746 |
397.961 |
433.863 |
|
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2973.511 |
1738.031 |
1394.043 |
|
|
|
Other Income |
0.537 |
20.304 |
0.133 |
|
|
|
TOTAL (A) |
2974.048 |
1758.335 |
1394.176 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
2877.674 |
1668.177 |
1328.016 |
|
|
|
Payment to Employee |
4.481 |
3.112 |
2.503 |
|
|
|
Administrative Expenses |
12.744 |
12.655 |
7.818 |
|
|
|
TOTAL (B) |
2894.899 |
1683.944 |
1338.337 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
79.149 |
74.377 |
55.839 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
38.275 |
49.375 |
32.699 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
40.874 |
25.002 |
23.140 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.283 |
0.228 |
0.111 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
40.591 |
24.774 |
23.029 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
12.653 |
7.869 |
7.418 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
27.938 |
16.905 |
15.611 |
|
KEY
RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PAT / Sales) |
(%) |
0.94 |
0.97 |
1.12 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
2.66 |
4.28 |
4.01 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.29 |
3.39 |
3.38 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.31 |
0.27 |
0.32 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
3.93 |
3.27 |
5.12 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.10 |
2.19 |
2.75 |
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 |
70.884 |
92.985 |
132.081 |
|
Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
Net
worth |
70.884 |
92.985 |
132.081 |
|
|
|
|
|
|
Secured Loans |
0.000 |
0.000 |
0.000 |
|
Unsecured Loans |
362.979 |
304.406 |
519.665 |
|
Total
borrowings |
362.979 |
304.406 |
519.665 |
|
Debt/Equity
ratio |
5.121 |
3.274 |
3.934 |
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 |
1394.043 |
1738.031 |
2973.511 |
|
|
|
24.676 |
71.085 |
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 |
1394.043 |
1738.031 |
2973.511 |
|
Profit |
15.611 |
16.905 |
27.938 |
|
|
1.12% |
0.97% |
0.94% |
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 |
No |
|
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 |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
No |
|
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 |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
No |
|
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 |
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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.66.58 |
|
|
1 |
Rs.102.29 |
|
Euro |
1 |
Rs.74.71 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRP |
|
|
|
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
JYTK |
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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
48 |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors and their relative weights (as
indicated through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.