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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

499692

Report Date :

29.03.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

MODI CHEMPLAST MATERIALS PRIVATE LIMITED        

 

 

Registered Office :

D-17, E-3 New Highway Park Co-Operative Housing Society Limited, Thakur Complex, Western Express Highway, Kandivali (East), Mumbai – 400101, Maharashtra

Tel. No.:

91-22-28543473 / 28543474 / 71

 

 

Country :

India

 

 

Financials (as on) :

31.03.2017

 

 

Date of Incorporation :

08.06.1999

 

 

Com. Reg. No.:

11-120235

 

 

Capital Investment / Paid-up Capital :

INR 1.232 Million

 

 

CIN No.:

[Company Identification No.]

U51434MH1999PTC120235

 

 

IEC No.:

[Import-Export Code No.]

0300055366

 

 

TIN No.:

27270167561

 

 

GSTN :

[Goods & Service Tax Registration No.]

27AACCM0083E1ZT

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AACCM0083E

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :
  • Wholesale of hardware and sanitary fittings and fixtures and flat glass including tools such as hammers, saws, screwdrivers and other hand tools. [Registered Activity]

 

  • Distributor and Trader of Astral CPVC Pipes and Fittings, Authorised Dealers of Parth HDPE and PP Pipes, Fitting and Valves. Importing Raw Materials. [Registered Activity and also Confirmed by management]

 

 

No. of Employees :

10 (Approximately)

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

A

 

Credit Rating

Explanation

Rating Comments

A

Acceptable Risk

Business dealings permissible with moderate risk of default

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

Comments :

Subject was incorporated in the year 1999 having satisfactory track record.

 

For the financial year 2017, the company has reported a marginal declined in its revenue as compared to its previous year along with low profit margin during the year.

 

The company possesses acceptable financial risk profile marked by adequate net worth base and strong debt protection metrics.

 

Rating continue to derive strength from its long and established track record of its business operation backed by its well-experienced management team.

 

However, these rating strength gets partially offset by the susceptibility of margins to volatile raw material prices and exposure to intense competition in industry.

 

Payment seems to be usually correct.

 

In view of aforesaid, the company can be considered for 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

 

Country Name

Previous Rating

(30.09.2017)

Current Rating

(31.12.2017)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

High Risk

 

C2

Very High Risk

 

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 31-03-2016.

 

 

BIFR (Board for Industrial & Financial Reconstruction) LISTING STATUS

 

Subject’s name is not listed as a Sick Unit in the publicly available BIFR (Board for Industrial & Financial Reconstruction) list as of 29.03.2018.

 

 

IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS

 

Subject’s name is not listed in the publicly available IBBI (Insolvency and Bankruptcy Board of India) list as of report date.

 

 

INFORMATION PARTED BY

 

Name :

Ms. Avni

Designation :

Accounts Department

Contact No.:

91-22-28543471

Date :

26.03.2018

 

 

LOCATIONS

 

Registered Office :

D-17, E-3 New Highway Park Co-Operative Housing Society Limited, Thakur Complex, Western Express Highway, Kandivali (East), Mumbai – 400101, Maharashtra, India

Tel. No.:

91-22-28543473 / 28543474 / 71

Mobile No.:

91-9967111445 (Mr. Sandeep)

Fax No.:

91-22-28543474

E-Mail :

modichemplast@gmail.com

modi@modichemplast.com

Website :

http://www.modichemplast.com

 

 

Corporate Office :

27B Henry St., East Cannington WA 6107 Australia

E-Mail :

bhavesh@universalpiping.com.au

 

 

DIRECTORS

 

AS ON 31.03.2017

 

Name :

Mr. Sandeep Jagdishchandra Mody

Designation :

Director

Address :

C-302, 3rd Floor, Panchsheel Garden, Dahanukar Wadi, Mahavir Nagar, Kandivali (West), Mumbai – 400067, Maharashtra, India

Date of Birth/Age :

05.06.1972

Date of Appointment :

08.06.1999

DIN No.:

01824146

 

 

Name :

Mr. Bhavesh Jagdishchandra Mody

Designation :

Director

Address :

203 N Pushpanjali Asha Nagar Chs Limited, Building No.1, Kandivali (East), Off Western Express Highway, Mumbai – 400101, Maharashtra, India

Date of Birth/Age :

13.02.1969

Date of Appointment :

08.06.1999

DIN No.:

01824151

 

 

Name :

Mrs. Julie Mody Bhavesh

Designation :

Additional Director

Address :

1111, Taal Building, Veena Saaz Society, Near Vodeocon Tower, Thakur Complex, Western Express Highway, Kandivali (East), Mumbai – 400101, Maharashtra, India

Date of Birth/Age :

11.10.1970

Date of Appointment :

15.04.2012

DIN No.:

05274716

 

 

KEY EXECUTIVES

 

Name :

Ms. Avni

Designation :

Accounts Department

 

 

MAJOR SHAREHOLDERS

 

AS ON 31.03.2017

 

Names of Shareholders

 

No. of Shares

Sandeep Jagdishchandra Mody

 

36960

Bhavesh Jagdishchandra Mody

 

61600

Julie Bhavesh Mody

 

24640

Total

 

123200

 

AS ON 29.09.2017

 

Equity Share Break up

Percentage

Category

 

 

Promoters - Individual/Hindu Undivided Family – Indian

100.00

Total

100.00

 

 

 

 

 

BUSINESS DETAILS

 

Line of Business :
  • Wholesale of hardware and sanitary fittings and fixtures and flat glass including tools such as hammers, saws, screwdrivers and other hand tools. [Registered Activity]

 

  • Distributor and Trader of Astral CPVC Pipes and Fittings, Authorised Dealers of Parth HDPE and PP Pipes, Fitting and Valves. Importing Raw Materials. [Registered Activity and also Confirmed by management]

 

 

Products / Services :

NIC Code No.

Product Description

46633

Wholesale of hardware and sanitary fittings and fixtures and flat glass including tools such as hammers, saws, screwdrivers and other hand tools.

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

 

Products :

Finished Goods

Countries :
  • United States of America
  • Australia

 

 

Imports :

 

Products :

Raw Material

Countries :
  • Australia
  • United Arab Emirates
  • Dubai

 

 

Terms :

 

Selling :

Cash, L/C and Credit (30, 60 Days)

 

 

Purchasing :

Cash, L/C and Credit (30, 60 Days)

 

 

PRODUCTION STATUS – (NOT AVAILABLE)

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Astral Pipes

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark :

--

 

  • Doshi Chem Impex
  • Omkar constructions
  • Vipul Stationary
  • NP Paper Products
  • Pratik Enterprises

 

 

Customers :

Wholesalers, Retailers and End Users

 

Reference :

Praj Industries Limited

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark :

--

 

  • D.D. Associates
  • Jal Gaon Gas Industry
  • SRV Enterprises
  • UPL Limited
  • Tata Projects Limited
  • Positive Metering System

 

 

No. of Employees :

10 (Approximately)

 

 

Bankers :

Bank Name

The Shamrao Vithal Co-Operative Bank Limited

Branch

Mangesh Sadan, Kasturba Cross Road No.1, Borivali (East), Mumbai-400066, Maharashtra, India

Person Name (With Designation)

91-22-28087646 (Ringing)

Contact Number

--

Name of Account Holder

--

Account Number

--

Account Since (Date/Year of Account Opening)

--

Average Balance Maintained (If Possible)

--

Credit Facilities Enjoyed (If any)

--

Account Operation

--

Remarks (If any)

--

 

 

Facilities :

SECURED LOANS

31.03.2017

INR In Million

31.03.2016

INR In Million

LONG TERM BORROWINGS

 

 

The Shamrao Vithal Co-operative Bank O/D

2.382

0.064

Axis Bank Car Loan

0.000

0.411

HDFC Car Loan

0.680

0.000

Daimler Financial India Private Limited

0.578

0.762

Total

3.640

1.237

 

Note:

 

LONG TERM BORROWINGS

 

  • Secured loan from bank consist of working capital loan from bank is secured against property, bill discount and bank.
  • Secured loan from bank consist of loan financed by axis loan carry the interest rate 10.50%p.a. payable on monthly rates.

 

  • Secured loan from bank includes loan financed by Diamler Financial India Private Limited loan carry the interest rate 10.75% p.a.

 

 

Auditors :

 

Name :

Atul C. Shah and Associates

Chartered Accountants

Address :

A/101, Shardagram Co-Operative Housing Society Limited, Mathuradas Road, Kandivali (West), Mumbai – 400067, Maharashtra, India

Tel. No.:

91-22-28634918 / 80801 02299

Mobile No.:

91-9324634916

E-Mail :

atulcshah_ca@yahoo.com

Website :

www.caatulshah.com

PAN No.:

AAKPS6810N

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associates/Subsidiaries :

Not Available

 

 

CAPITAL STRUCTURE

 

AS ON 29.09.2017

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

150000

Equity Shares

INR 10/- each

INR 1.500 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

123200

Equity Shares

INR 10/- each

INR 1.232 Million

 

 

 

 

 

 

FINANCIAL DATA

[all figures are INR Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

31.03.2017

31.03.2016

31.03.2015

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

1.232

1.232

1.232

(b) Reserves & Surplus

9.687

8.413

6.917

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

0.000

0.000

0.471

Total Shareholders’ Funds (1) + (2)

10.919

9.645

8.620

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

6.294

5.283

6.023

(b) Deferred tax liabilities (Net)

0.000

0.000

0.038

(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)

6.294

5.283

6.061

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

0.000

0.000

0.000

(b) Trade payables

60.268

29.446

30.734

(c) Other current liabilities

0.973

1.025

1.942

(d) Short-term provisions

2.393

2.713

0.890

Total Current Liabilities (4)

63.634

33.184

33.566

 

 

 

 

TOTAL

80.847

48.112

48.247

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

3.353

3.627

4.598

(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

2.833

1.570

2.942

(c) Deferred tax assets (net)

0.196

0.072

0.000

(d)  Long-term Loan and Advances

1.654

1.633

1.675

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

8.036

6.902

9.215

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

36.710

9.787

8.216

(c) Trade receivables

26.642

27.826

25.025

(d) Cash and cash equivalents

8.930

2.556

4.598

(e) Short-term loans and advances

0.529

1.041

1.193

(f) Other current assets

0.000

0.000

0.000

Total Current Assets

72.811

41.210

39.032

 

 

 

 

TOTAL

80.847

48.112

48.247

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2017

31.03.2016

31.03.2015

 

SALES

 

 

 

 

Income

129.094

133.190

106.611

 

Other Income

2.374

1.443

0.990

 

TOTAL

131.468

134.633

107.601

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Purchases of Stock-in-Trade

125.004

96.601

84.147

 

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

(26.924)

(1.571)

(4.474)

 

Employees benefits expense

9.329

9.068

7.318

 

Other expenses

20.183

25.531

17.246

 

TOTAL

127.592

129.629

104.237

 

 

 

 

 

 

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

3.876

5.004

3.364

 

 

 

 

 

Less

FINANCIAL EXPENSES

1.348

1.312

0.302

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

2.528

3.692

3.062

 

 

 

 

 

Less

DEPRECIATION/ AMORTISATION

0.862

1.007

0.510

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

1.666

2.685

2.552

 

 

 

 

 

Less

TAX

0.392

1.189

1.178

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

1.274

1.496

1.374

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

8.04

12.14

11.15

 

 

Expected Sales (2017-2018): INR 140.000 Million

 

The above information has been parted by Ms. Avni (Accounts Department)

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2017

31.03.2016

31.03.2015

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

 

EFFICIENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Average Collection Days

(Sundry Debtors / Income * 365)

75.33

76.26

85.68

 

 

 

 

Account Receivables Turnover

(Income / Sunday Debtors)

4.85

4.79

4.26

 

 

 

 

Average Payment Days

(Sundry Creditors / Purchases * 365 Days)

175.98

111.26

133.31

 

 

 

 

Inventory Turnover

(Operating Income / Inventories)

0.11

0.51

0.41

 

 

 

 

Asset Turnover

(Operating Income / Net Fixed Assets)

1.16

1.38

0.73

 

LEVERAGE RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Debt Ratio

((Borrowing + Current Liabilities) / Total Assets)

0.86

0.80

0.82

 

 

 

 

Debt Equity Ratio

(Total Liability / Networth)

0.58

0.55

0.70

 

 

 

 

Current Liabilities to Networth

(Current Liabilities / Net Worth)

5.83

3.44

3.89

 

 

 

 

Fixed Assets to Networth

(Net Fixed Assets / Networth)

0.31

0.38

0.53

 

 

 

 

Interest Coverage Ratio

(PBIT / Financial Charges)

2.88

3.81

11.14

 

PROFITABILITY RATIOS

 

PARTICULARS

 

 

31.03.2017

31.03.2016

31.03.2015

Net Profit Margin [(PAT / Sales) * 100]

%

0.99

1.12

1.29

 

 

 

 

 

Return on Total Assets

((PAT / Total Assets) * 100)

%

1.58

3.11

2.85

 

 

 

 

 

Return on Investment (ROI)

((PAT / Networth) * 100)

%

11.67

15.51

15.94

 

SOLVENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Current Ratio

(Current Assets / Current Liabilities)

1.14

1.24

1.16

 

 

 

 

Quick Ratio

((Current Assets – Inventories) / Current Liabilities)

0.57

0.95

0.92

 

 

 

 

G-Score Ratio Financial

(Networth / Total Assets)

0.14

0.20

0.18

 

 

 

 

G-Score Ratio Debt

(Debts / Equity Capital)

5.11

4.29

4.89

 

 

 

 

G-Score Ratio Liquidity

(Total Current Assets / Total Current Liabilities)

1.14

1.24

1.16

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

 

 

FINANCIAL ANALYSIS

[all figures are INR Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2015

31.03.2016

31.03.2017

 

INR In Million

INR In Million

INR In Million

Share Capital

1.232

1.232

1.232

Reserves & Surplus

6.917

8.413

9.687

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

0.471

0.000

0.000

Net worth

8.149

9.645

10.919

 

 

 

 

Long-term borrowings

6.023

5.283

6.294

Short term borrowings

0.000

0.000

0.000

Total borrowings

6.023

5.283

6.294

Debt/Equity ratio

0.739

0.548

0.576

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2015

31.03.2016

31.03.2017

 

INR In Million

INR In Million

INR In Million

Sales

106.611

133.190

129.094

 

 

24.931

(3.075)

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2015

31.03.2016

31.03.2017

 

INR In Million

INR In Million

INR In Million

Sales

106.611

133.190

129.094

Profit

1.374

1.496

1.274

 

1.29%

1.12%

0.99%

 

 

 

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)

No

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 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

--

33

Market information

--

34

Payments terms

Yes

35

Negative Reporting by Auditors in the Annual Report

No

 

 

 

 

STATE OF COMPANY’S AFFAIRS:

 

During the year, the company has earned a net profit of INR 1.274 Million as against INR 1.496 Million during the previous year.

 

 

UNSECURED LOANS:

 

PARTICULAR

31.03.2017

INR In Million

31.03.2016

INR In Million

Long-term Borrowings

 

 

Loans and advances from related parties

 

 

Bhavesh Mody

0.318

0.276

Sandeep Mody

2.336

3.770

Total

2.654

4.046

 

 

INDEX OF CHARGE:

 

SNo

SRN

Charge Id

Charge Holder Name

Date of Creation

Date of Modification

Amount

Address

1

Y10243383

90143613

The Shamrao Vithal Co-Operative Bank Limited

19/10/2001

14/08/2002

3000000.0

Borivall Branch, Mumbai-400066, Maharashtra, India

 

 

FIXED ASSETS:

  • Computer
  • Fax machine
  • Furniture and fittings
  • Air conditioner
  • Motor vehicle
  • Plant and Machinery
  • Godown

 

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

INR

US Dollar

1

INR 65.04

UK Pound

1

INR 92.28

Euro

1

INR 80.62

 

 

INFORMATION DETAILS

 

Information Gathered by :

PRT

 

 

Analysis Done by :

NIS

 

 

Report Prepared by :

BHG

 

 

SCORE FACTORS

 

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

YES

--AFFILIATION

YES/NO

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

 

RATING EXPLANATIONS

 

Credit Rating

Explanation

Rating Comments

A++

Minimum Risk

Business dealings permissible with minimum risk of default

A+

Low Risk

Business dealings permissible with low risk of default

A

Acceptable Risk

Business dealings permissible with moderate risk of default

B

Medium Risk

Business dealings permissible on a regular monitoring basis

C

Medium High Risk

Business dealings permissible preferably on secured basis

D

High Risk

Business dealing not recommended or on secured terms only

NB

New Business

No recommendation can be done due to business in infancy stage

NT

No Trace

No recommendation can be done as the business is not traceable

 

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

 

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 are as follows:

 

·         Financial condition covering various ratios

·         Company background and operations size

·         Promoters / Management background

·         Payment record

·         Litigation against the subject

·         Industry scenario / competitor analysis

·         Supplier / Customer / Banker review (wherever available)

 

 

 

 

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.