MIRA INFORM REPORT

 

 

Report No. :

341785

Report Date :

23.09.2015

 

IDENTIFICATION DETAILS

 

Name :

TURAKHIA INTERNATIONAL PRIVATE LIMITED (w.e.f. 17.10.2011)

 

 

Formerly Known As :

MEGHA POLYMERS PRIVATE LIMITED

 

 

Registered Office :

414-416, 4th Floor, Vyapar Bhavan, 49, P D Meelo Road, Carnac Bunder, Mumbai – 400009, Maharashtra

Tel. No.:

91-22-66194444

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

26.08.1991

 

 

Com. Reg. No.:

11–173982

 

 

Capital Investment / Paid-up Capital :

Rs.28.211 Million

 

 

CIN No.:

[Company Identification No.]

U51909MH1991PTC173982

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AACCM0854B

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Trader and Importer of Iron and Steel Products.

 

 

No. of Employees :

28 (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 :

No complaints

 

 

Litigation :

Clear

 

 

Comments :

Turakhia International Private Limited is a part of the “Turakhia Group”. It is engaged into trading and importing in steel products such as steel flats and long products such as billets, angles, reinforcing steel bars etc.

 

Rating takes in account on company established position in the steel trading business supported by its promoters’ extensive industry experience. The ratings also factor above-average financial risk profile, marked by a healthy networth and above-average debt protection metrics.

 

This rating strengths is partially offset on company large working capital requirements, its exposure to intense competition in the steel trading business resulting in modest profitability margins and the susceptibility of its profitability margins to fluctuations in foreign exchange rates.

 

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

 

The company can be considered good for normal business dealings at usual trade terms and conditions.

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

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

CRISIL

Rating

Long term bank facilities : BBB

Rating Explanation

Moderate degree of safety and moderate credit risk.

Date

June, 2015

 

Rating Agency Name

CRISIL

Rating

Short term bank facilities : A3+

Rating Explanation

Moderate degree of safety and higher credit risk.

Date

June, 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. Sharad Parekh

Designation :

Account Executive

Contact No.:

91-22-66194444

Date :

21.09.2015

 

 

LOCATIONS

 

Registered Office :

414-416, 4th Floor, Vyapar Bhavan, 49, P D Meelo Road, Carnac Bunder, Mumbai – 400009, Maharashtra, India

Tel. No.:

91-22-66194444

Fax No.:

Not Available

E-Mail :

manoj@turakhia.co.in

turafer@mtnl.net.in

info@turakhia.co.in

Website :

www.turakhia.co.in

Area :

2000 Sq.ft.

Location :

Owned

Locality :

Commercial

 

 

Warehouse :

Located at :

 

Kalamboli, Taluja

 

 

Branches :

Located at :

 

  • Indore
  • Ahmedabad

 

 

DIRECTORS

 

AS ON 30.09.2014

 

Name :

Mr. Mansukhlal Rughnath Turakhia

Designation :

Director

Address :

141,Shaan Apartment, Kashinath Dhru Road, Dadar (West), Mumbai - 400028, Maharashtra, India

Date of Birth/Age :

13.11.1933

Date of Appointment :

10.03.2005

DIN No.:

00180243

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

DATE OF CESSATION

COMPANY/ LLP STATUS

DEFAULTING STATUS

1

U27200MH1994PTC078585

TURAKHIA FERROMET PRIVATE LIMITED

DIRECTOR

24/11/1994

24/11/1994

-

ACTIVE

NO

2

U63823MH1985PTC035018

TURAKHIA STEELS PRIVATE LIMITED (CN)

DIRECTOR

18/01/1995

18/01/1995

-

ACTIVE

NO

3

U25200MH1995PTC089966

STANDARD CONDUITS PRIVATE LIMITED

DIRECTOR

27/06/1995

27/06/1995

-

ACTIVE

NO

4

U27100MH2002PTC134754

TURAKHIA STEEL AND METAL (INDIA ) PRIVATE LIMITED

DIRECTOR

31/01/2002

31/01/2002

-

ACTIVE

NO

5

U51909MH1991PTC173982

TURAKHIA INTERNATIONAL PRIVATE LIMITED

DIRECTOR

10/03/2005

10/03/2005

-

ACTIVE

NO

6

U28900MH2005PTC152644

TURAKHIA ENGINEERING COMPANY PRIVATE LIMITED

DIRECTOR

15/04/2005

15/04/2005

-

ACTIVE

NO

7

U99999MH1996PTC103035

SUPRAPTI FINVEST PRIVATE LIMITED

DIRECTOR

01/03/2008

01/03/2008

-

ACTIVE

NO

8

U28910MH2011PTC224252

TURAKHIA ENGINEERING COMPANY (PATALGANGA) PRIVATE LIMITED

DIRECTOR

22/11/2011

22/11/2011

-

ACTIVE

NO

 

 

Name :

Mr. Manoj Mansukhlal Turakhia

Designation :

Director

Address :

7/1 Tehmi Terrace, 805 Dr. B. A. Road, Dadar, Mumbai - 400014, Maharashtra, India

Date of Birth/Age :

29.03.1961

Date of Appointment :

08.10.2004

DIN No.:

01569510

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

DATE OF CESSATION

COMPANY/ LLP STATUS

DEFAULTING STATUS

1

U27200MH1994PTC078585

TURAKHIA FERROMET PRIVATE LIMITED

DIRECTOR

24/05/1994

24/05/1994

-

ACTIVE

NO

2

U51909MH1991PTC173982

TURAKHIA INTERNATIONAL PRIVATE LIMITED

DIRECTOR

08/10/2004

08/10/2004

-

ACTIVE

NO

3

U99999MH1996PTC103035

SUPRAPTI FINVEST PRIVATE LIMITED

DIRECTOR

13/04/2005

13/04/2005

-

ACTIVE

NO

4

U28900MH2005PTC152644

TURAKHIA ENGINEERING COMPANY PRIVATE LIMITED

DIRECTOR

15/04/2005

15/04/2005

-

ACTIVE

NO

5

U74990MH2009PTC195588

STEEL MART INDIA PRIVATE LIMITED

DIRECTOR

23/12/2009

23/12/2009

-

ACTIVE

NO

6

U28110MP2009PTC022083

TURAKHIA ENGINEERING COMPANY (PITHAMPUR) PRIVATE LIMITED

DIRECTOR

16/05/2011

25/04/2011

-

ACTIVE

NO

7

U28910MH2011PTC224252

TURAKHIA ENGINEERING COMPANY (PATALGANGA) PRIVATE LIMITED

DIRECTOR

22/11/2011

22/11/2011

-

ACTIVE

NO

 

 

KEY EXECUTIVES

 

Name :

Mr. Sharad Parekh

Designation :

Account Executive

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2014

 

Names of Shareholders

No. of Shares

%age holding

Manoj Mansukhlal Turakhia

328550

11.65

Manoj Mansukhlal Turakhia (HUF)

212350

7.53

Anuj Manoj Turakhia

350900

12.44

Shreyan Manoj Turakhia

303810

10.77

Turakhia Ferromet Private Limited, India

1625530

57.62

Total

2821140

100.00

 

 

AS ON 30.09.2014

 

Equity Share Break up (Percentage of Total Equity)

 

Category

Percentage

Bodies corporate

57.62

Directors or relatives of Directors

34.85

Other top fifty shareholders

7.53

 

 

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Trader and Importer of Iron and Steel Products.

 

 

Products :

Iron and Steel Products

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Available

 

 

Imports :

 

Products :

Iron and Steel Products

Countries :
  • Russia
  • China
  • South Africa
  • Ukraine

 

 

Terms :

 

Selling :

Cash, Advance Payment and Credit

 

 

Purchasing :

Cash, Advance Payment and Credit

 

PRODUCTION STATUS: NOT AVAILABLE

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Hemraj Devkarandas Metals and Minerals Private Limited, Mumbai

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 :

Reference :

Angang Group Hong Kong Company Limited, Hong Kong

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 :

28 (Approximately)

 

 

Bankers :

Bank Name

Bank of India

Branch

Mid Corporate Branch

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 :

Secured Loan

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

Short-term borrowings

 

 

Rupee term loans from banks

53.386

0.000

Total

53.386

0.000

 

Financial Institution :

SBICAP Trustee Company Limited, 202, Maker Tower, 'E', Cuffe Parade, Colaba, Mumbai - 400005, Maharashtra, India

 

 

Auditors :

 

Name :

A. C. Kamdar and Compnay

Chartered Accountants

Address :

6/7, Pearl Mansion, 91 Maharshi Karve Road, Marine Lines, Mumbai-400020, Maharashtra, India

PAN No.:

AAAFA2793E

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives :
  • Turakhia Ferromet Private Limited
  • Turakhia Engineering Company ( Patalganga ) Private Limited
  • Turakhia Engineering Company Private Limited
  • Turkhia Engineering Company (Pittampur) Private Limited
  • Steel Mart India Private Limited
  • Steel Endevours Private Limited
  • Manoj M. Turakhia HUF
  • Mansukhlal R. Turakhia HUF

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

3,000,000

Equity Shares

Rs.10/- each

Rs.30.000 Million

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

2,821,140

Equity Shares

Rs.10/- each

Rs.28.211 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

28.211

28.211

28.211

(b) Reserves & Surplus

315.862

267.706

259.010

(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)

344.073

295.917

287.221

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

473.161

0.276

70.037

(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)

473.161

0.276

70.037

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

53.386

0.000

0.000

(b) Trade payables

401.050

269.187

197.289

(c) Other current liabilities

6.650

0.627

6.475

(d) Short-term provisions

76.497

43.481

47.683

Total Current Liabilities (4)

537.583

313.295

251.447

 

 

 

 

TOTAL

1354.817

609.488

608.705

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

4.498

0.515

0.695

(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

7.268

5.000

5.000

(c) Deferred tax assets (net)

0.189

0.138

0.133

(d)  Long-term Loan and Advances

54.744

95.708

97.694

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

66.699

101.361

103.522

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

347.790

163.866

83.958

(c) Trade receivables

483.223

144.147

306.592

(d) Cash and cash equivalents

306.076

73.152

16.566

(e) Short-term loans and advances

151.029

126.939

97.948

(f) Other current assets

0.000

0.023

0.119

Total Current Assets

1288.118

508.127

505.183

 

 

 

 

TOTAL

1354.817

609.488

608.705

 

 

PROFIT & LOSS ACCOUNT

 

 

SALES

31.03.2014

31.03.2013

31.03.2012

 

Income

 1930.000

(Approximately)

NA

NA

 

Other Income

NA

NA

NA

 

TOTAL

NA

NA

NA

 

 

 

 

 

Less

EXPENSES

NA

NA

NA

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

NA

NA

NA

 

 

 

 

 

Less

TAX

NA

NA

NA

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

48.156

8.696

33.142

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

 25.27

 3.08

11.75 

 

 

Particulars

 

 

 

31.03.2015

Sales Turnover (Approximately)

 

 

4690.000

 

 

 

[Due to more order]

 

Expected Sales (2015-2016): Rs.4500.000 Million

 

The above information has been parted by Mr. Sharad Parekh (Account Executive).

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current maturities of long term debt

0.000

0.000

0.000

Cash generated from operations

NA

NA

NA

Net cash flows from (used in) operations

(268.131)

130.395

(156.678)

Net cash flows from (used in) operating activities

(285.761)

122.853

(172.696)

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Debt Equity Ratio

(Total Debt /Networth)

 

1.53

0.00

0.24

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

2.40

1.62

2.01

 

 

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

28.211

28.211

28.211

Reserves & Surplus

259.010

267.706

315.862

Share Application money pending allotment

0.000

0.000

0.000

Net worth

287.221

295.917

344.073

 

 

 

 

long-term borrowings

70.037

0.276

473.161

Short term borrowings

0.000

0.000

53.386

Current maturities of long term debt

0.000

0.000

0.000

Total borrowings

70.037

0.276

526.547

Debt/Equity ratio

0.244

0.001

1.530

 

 

 

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

Yes

26

Turnover of firm for last two years

Yes

27

Reasons for variation <> 20%

Yes

28

Estimation for coming financial year

Yes

29

Profitability for last two 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

 

FINANCIAL PERFORMANCE

 

During the year, the Company has earned a profit of Rs.48.156 Million (Previous Year Profit: Rs.8.696 Million).

 

UNSECURED LOAN

 

PARTICULARS

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

Long-term Borrowings

 

 

Loans and advances from related parties

473.161

0.276

 

 

 

Total

473.161

0.276

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10447366

03/08/2013

2,050,000,000.00

SBICAP TRUSTEE COMPANY LIMITED

202, MAKER TOWER, 'E', CUFFE PARADE, COLABA, MUMBAI - 400005, MAHARASHTRA, INDIA

B84202266

2

90248919

31/01/2007 *

125,000,000.00

BANK OF INDIA

MANDVI BRANCH , KANMOOR HOUSE, 281/287 NARSI NA 
THA STREET, MUMBAI - 400009, MAHARASHTRA, INDIA

-

 

* Date of charge modification

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

1]         INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

 

2]         Court Declaration :

No exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

 

3]         Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

 

4]         Record on Financial Crime :

            Charges or conviction registered against subject:                                                           None

 

5]         Records on Violation of Anti-Corruption Laws :

            Charges or investigation registered against subject:                                                        None

 

6]         Records on Int’l Anti-Money Laundering Laws/Standards :

            Charges or investigation registered against subject:                                                        None

 

7]         Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

 

8]         Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

 

9]         Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

 

10]        Press Report :

            No press reports / filings exists on the subject.

 

CORPORATE GOVERNANCE

 

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

 

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

 

 

CONTRAVENTION

 

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

 

 

FOREIGN EXCHANGE RATES

 

Currency

 
Unit

Indian Rupees

US Dollar

1

Rs.65.62

UK Pound

1

Rs.102.73

Euro

1

Rs.73.26

 

 

INFORMATION DETAILS

 

Information Gathered by :

DPA

 

 

Analysis Done by :

KAS

 

 

Report Prepared by :

SNT

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--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

 

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

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NB

                                       New Business

 

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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.