MIRA
INFORM REPORT
|
Report Date : |
30.09.2008 |
IDENTIFICATION DETAILS
|
Name : |
HAMS BIMETAL |
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|
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|
Registered Office : |
7, Umakant Pandit Udyog Nagar, Mavdi Plot, Rajkot – 360004, Gujarat |
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Country : |
India |
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|
Financials (as on) : |
31.07.2008 |
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Date of Incorporation : |
12.04.2007 |
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IEC No.: |
2497002657 |
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PAN No.: [Permanent
Account No.] |
AAEFH9134N |
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Legal Form : |
Partnership concern with an unlimited liability of the partners. |
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Line of Business : |
Manufacturing of C.R. and Main Brass and Bushes for Agriculture /
Industrial and Automobile Engines. |
RATING &
COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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Status : |
New concern |
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Payment Behaviour : |
No complaints |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively new concern in its field. Partners are
reported as experienced, respectable and having satisfactory means of their
own. Trade relations are fair. No complaints have been heard against the
subject from the market sources. It would be advisable to take adequate securities while dealing with
the subject. |
LOCATIONS
|
Registered Office / Factory : |
7, Umakant Pandit Udyog Nagar, Mavdi Plot, Rajkot – 360004, Gujarat,
India |
|
Tel. No.: |
91-281-2366585 |
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Mobile No.: |
91-9925190220 |
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E-Mail : |
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|
Area : |
Leased [Rs. 7500/- per months] |
PARTNERS
|
Name : |
Mr. Manshukbhai J. Saparia |
|
Designation : |
Managing Partner |
|
Address : |
601, Maharshi Tower, Jalaram Plot – 2, Uni Road, Rajkot – 360007 |
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Tel No.: |
91-281-2588543 |
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Date of Birth/Age : |
46 Years |
|
Qualification : |
Under Graduate |
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Experience : |
12 Years |
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|
|
|
Name : |
Mr. Kanjibhai J. Saparia |
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Designation : |
Partner |
|
Address : |
At: Bhalechada, Taluka Manavadar, District Junagadh |
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Tel No.: |
91-281-222597 |
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Date of Birth/Age : |
56 Years |
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Qualification : |
Under Graduate |
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|
|
|
Name : |
Mrs. Narmadaben V. Saparia |
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Designation : |
Partner |
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Address : |
Mandeep, Tapovan Sct. Aksharmarg, Rajkot |
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Tel No.: |
91-281-2431796 |
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Date of Birth/Age : |
47 Years |
|
Qualification : |
Graduate |
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|
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|
Name : |
Mrs. Harshaben J. Saparia |
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Designation : |
Partner |
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Address : |
BL No. 8, Krishna “A” Apartment, Block No. 8, Kalawad Road, Rajkot |
|
Tel No.: |
91-281-2581625 |
|
Date of Birth/Age : |
41 Years |
|
Qualification : |
Graduate |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of C.R. and Main Brass and Bushes for Agriculture /
Industrial and Automobile Engines. |
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Brand Names : |
‘HAMS’ |
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Terms : |
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Selling : |
Credit [30-60 days] |
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Purchasing : |
Credit [30-60 days] |
PRODUCTION STATUS
|
Particulars |
Units
|
Installed
Capacity |
Operating
Capacity |
|
Bearing |
Nos. |
26000/Months |
15000/Months |
|
Bushes |
Nos. |
26000/Months |
15000/Months |
|
Thrast washe |
Nos. |
26000/Months |
15000/Months |
No. of working days in a Month : 26 Days
No. of shifts in a day : 1 [One]
GENERAL
INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
8 [In Office : 1 and In Factory : 7] |
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Bankers : |
Corporation Bank, Rajkot CPBB Branch, Indira Circle, University Road,
Rajkot |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
C. G. Katara and Company Chartered Accountants |
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Associates/Subsidiaries : |
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CAPITAL STRUCTURE
|
Capital Investment : |
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|
Owned : |
Rs. 1.564 Millions |
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Borrowed : |
-- |
|
Total : |
Rs. 1.564 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
01.04.2008 to 31.07.2008 |
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|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
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|
1.564 |
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|
2] Share Application Money |
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|
0.000 |
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3] Reserves & Surplus |
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|
0.007 |
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4] (Accumulated Losses) |
|
|
0.000 |
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NETWORTH |
|
|
1.571 |
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|
LOAN FUNDS |
|
|
|
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|
1] Secured Loans |
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|
0.000 |
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2] Unsecured Loans |
|
|
0.175 |
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TOTAL BORROWING |
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|
0.175 |
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|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
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|
|
|
|
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TOTAL |
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|
1.746 |
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APPLICATION OF FUNDS |
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|
|
|
|
|
|
|
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FIXED ASSETS [Net Block] |
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|
0.976 |
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|
Capital work-in-progress |
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|
0.000 |
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|
|
|
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INVESTMENT |
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|
0.000 |
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|
DEFERREX TAX ASSETS |
|
|
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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|
|
|
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Inventories |
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|
0.550 |
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Sundry Debtors |
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|
0.003 |
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Cash & Bank Balances |
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|
0.116 |
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Other Current Assets |
|
|
0.077 |
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Loans & Advances |
|
|
0.060 |
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Total
Current Assets |
|
|
0.806 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
|
0.036 |
|
|
Provisions |
|
|
0.000 |
|
Total
Current Liabilities |
|
|
0.036 |
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|
Net Current Assets |
|
|
0.770 |
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|
|
|
|
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|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
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|
|
|
|
|
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TOTAL |
|
|
1.746 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
|
01.04.2008 to 31.07.2008 |
|
|
|
|
|
|
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Sales Turnover |
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|
0.003 |
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Closing Stock |
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|
0.550 |
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Total |
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|
0.553 |
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|
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|
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Net Profit |
|
|
0.008 |
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|
|
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|
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Expenditures : |
|
|
|
|
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|
Opening Stock |
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|
0.218 |
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Purchase Accounts |
|
|
0.243 |
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|
Administrative Expenses |
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|
0.034 |
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|
Manufacturing and Trading Expenses |
|
|
0.050 |
|
Total Expenditure |
|
|
0.545 |
|
KEY RATIOS
|
PARTICULARS |
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|
01.04.2008 to 31.07.2008 |
|
PAT / Total Income |
(%) |
|
|
1.45 |
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|
Net Profit Margin (PBT/Sales) |
(%) |
|
|
266.67 |
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
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|
0.45 |
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Return on Investment (ROI) (PBT/Networth) |
|
|
|
0.01 |
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Debt Equity Ratio (Total Liability/Networth) |
|
|
|
0.13 |
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Current Ratio (Current Asset/Current Liability) |
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LOCAL AGENCY
FURTHER INFORMATION
Locational advantages of existing and / or proposed premises with
reference to
|
Market for the Product |
Large |
|
Availability of |
|
|
Power |
40 HP [PGVCL] |
|
Water |
Bore |
|
Labour |
City and as such any type of worker are easily available |
|
Transport |
Rajkot on National Highway and Broad Gage Railway is also passing
through Rajkot |
Land and Building
|
|
Existing |
|
Factory Land |
2225 S.M. |
|
Factory Building |
0570 S.M. |
|
Ancillary Building |
-- |
|
Open Storage Space |
1655 S.M. |
Raw Materials and
Components
Rs in Millions
|
|
Non Ferros Metal Indigenous |
ERW Seemless Pipe Indigenous |
|
Quantity Required |
15 MT |
60 MT |
|
Sources of Supply |
15 MT |
60 MT |
|
Minimum Purchase Quantity |
10 MT |
40 MT |
|
Led / Procurement Time |
5 Days |
5 Days |
|
Available throughout the year ? |
Yes |
Yes |
COST OF PROJECT
|
Particular |
Already incurred |
Total cost |
|
Land Including development |
0.00 |
0.00 |
|
Building and Others civil works |
0.00 |
0.00 |
|
Plant and Machinery Indigenous Imported |
0.859 0.000 |
0.859 0.000 |
|
Essential Tools, Spares and Acc. |
0.000 |
0.000 |
|
Testing Equipment |
0.000 |
0.000 |
|
Miscellaneous Fixed Assets |
0.079 |
0.079 |
|
Erection / Installation Charges |
0.000 |
0.000 |
|
Preliminary Expenses |
0.000 |
0.000 |
|
Pre-Operating Expenses |
0.000 |
0.000 |
|
Provision for Contingencies Buildings Plant and Machinery Other Fixed Assets |
0.000 0.000 0.000 |
0.000 0.000 0.000 |
|
Margin for Working Capital Req. |
0.000 |
0.000 |
|
Total |
0.938 |
0.938 |
MEANS OF FINANCE
Rs in Millions
|
Particulars |
Amount
already raised |
Amount Proposed to be raised |
Total
|
|
Capital [specify resources – contributing capital] |
1.579 |
0.800 |
2.379 |
|
Reserves |
0.000 |
0.000 |
0.000 |
|
Term Loans |
0.000 |
0.000 |
0.000 |
|
Unsecured Loans and Deposits [indicate sources, rate of interest
repayment period, etc.] |
0.100 |
0.200 |
0.300 |
|
Deferred Payment Arrangements including Suppliers Credit |
0.000 |
0.000 |
0.000 |
|
Subsidy Central Government State Government |
0.000 0.000 |
0.000 0.000 |
0.000 0.000 |
|
Seed capital [Indicate sources] |
0.000 |
0.000 |
0.000 |
|
Internal Cash Accruals |
0.118 |
0.000 |
0.118 |
|
Other Sources [Specify] |
0.000 |
0.000 |
0.000 |
|
Total |
1.797 |
1.000 |
2.797 |
OPERATING STATEMENT
Rs in Millions
|
Particulars |
2008-09 Current
Year |
2009-10 Follow
Year |
2010-11 Follow
Year |
|
|
Estimated |
Projected |
|
|
1 Gross Sales [Net of Returns] |
10.000 |
10.500 |
11.000 |
|
Other Income |
0.050 |
0.050 |
0.050 |
|
2 Less Excise Duty |
-- |
-- |
-- |
|
3 Net Sales |
10.050 |
10.550 |
11.050 |
|
4 Cost of Sales |
|
|
|
|
[I] Raw Materials [Including Stores] |
|
|
|
|
[a] Imported |
-- |
-- |
-- |
|
[b] Indigenous |
8.100 |
6.800 |
7.000 |
|
[II] Other Spares |
|
|
|
|
[a] Imported |
-- |
-- |
-- |
|
[b] Indigenous |
0.220 |
0.240 |
0.260 |
|
[III] Power and Fuel |
0.520 |
0.550 |
0.580 |
|
[IV] Direct Labour |
0.470 |
0.490 |
0.510 |
|
[V] Repairs and Maintenance |
0.080 |
0.100 |
0.120 |
|
[VI] Other Manufacturing Expenses |
0.360 |
0.420 |
0.480 |
|
[VII] Depreciation |
0.150 |
0.170 |
0.190 |
|
[VIII] Sub Total
|
9.900 |
8.770 |
9.140 |
|
[IX] Add : Opening Stocks in process |
-- |
-- |
-- |
|
Sub Total |
9.900 |
8.770 |
9.140 |
|
[X] Deduct : Closing Stocks in Process |
-- |
-- |
-- |
|
[XI] Cost of Production |
9.900 |
8.770 |
9.140 |
|
[XII] Add : Opening Stocks of Finished Goods |
-- |
1.600 |
1.700 |
|
Sub Total |
9.900 |
10.370 |
10.840 |
|
[XIII] Deduct : Closing Stocks of Finished Goods |
1.600 |
1.700 |
1.800 |
|
[XIV] TOTAL COST
OF SALES |
8.300 |
8.670 |
9.040 |
|
5 Gross Profit |
1.750 |
1.880 |
2.010 |
|
6 Interest |
0.550 |
0.600 |
0.650 |
|
7 Selling General and Administrative Expenses |
1.015 |
1.050 |
1.085 |
|
8 Sub Total |
1.565 |
1.650 |
1.735 |
|
9 Operating Profit |
0.185 |
0.230 |
0.275 |
|
10 [I] Add Other Non Operating Income |
|
|
|
|
[a] Kasar / Commission |
0.015 |
0.020 |
0.025 |
|
|
|
|
|
|
Sub Total [Income] |
0.015 |
0.020 |
0.025 |
|
[II] Deduct : Other Non Operating Expenses |
|
|
|
|
Sub Total [Expenses] |
|
|
|
|
[III] Net of Other Non Operating Income / Expenses |
0.015 |
0.020 |
0.025 |
|
11 Profit Before tax / loss |
0.200 |
0.250 |
0.300 |
|
12 Provision for taxes |
-- |
-- |
-- |
|
13 Net Profit / Loss |
0.200 |
0.250 |
0.300 |
|
14 [a] Equity Dividend Proposed |
-- |
-- |
-- |
|
[b] Transfer to General Reserve |
-- |
-- |
-- |
|
[c] Sub Total |
-- |
-- |
-- |
|
15 Retained
Profit |
0.200 |
0.250 |
0.300 |
Including Interest
paid to partners on partners Capital
COMPUTATION OF
MAXIMUM PERMISSIBLE BANK FINANCE FOR WORKING CAPITAL
Rs in Millions
|
Particulars |
2008-09 Current
Year |
2009-10 Follow
Year |
2010-11 Follow
Year |
|
|
Estimated |
Projected |
|
|
1st
Method of lending |
|||
|
1 Working capital Gap |
2.800 |
2.850 |
2.790 |
|
2 Minimum stipulated net working capital [25 % of 1] |
0.700 |
0.713 |
0.698 |
|
3 Actual / Projected net working capital |
0.800 |
0.850 |
0.790 |
|
4 [1 – 2] |
2.100 |
2.138 |
2.093 |
|
5 [1 – 3] |
2.000 |
2.000 |
2.000 |
|
6 Maximum permissible
bank finance [whichever is lower [4 – 5]] |
2.500 |
2.500 |
2.500 |
|
7 Excess borrowings [Representing short fall in net working capital]
to be converted into working capital term loan [2 – 3] |
-- |
-- |
-- |
|
|
|
|
|
|
2nd Method
of lending |
|||
|
8 Working capital Gap |
2.800 |
2.850 |
2.790 |
|
9 Minimum stipulated net working capital [25 % of 1] |
1.106 |
1.164 |
1.173 |
|
10 Actual / Projected net working capital |
0.800 |
0.850 |
0.790 |
|
11 [1 – 2] |
1.694 |
1.686 |
1.618 |
|
12 [1 – 3] |
2.000 |
2.000 |
2.000 |
|
13 Maximum
permissible bank finance [whichever is lower [4 – 5]] |
2.500 |
2.500 |
2.500 |
|
14 Excess borrowings [Representing short fall in net working capital]
to be converted into working capital term loan [2 – 3] |
-- |
-- |
-- |
BALANCE SHEET SPREAD
Rs in Millions
|
Particulars |
2008-09 Current
Year |
2009-10 Follow
Year |
2010-11 Follow
Year |
|
|
Estimated |
Projected |
|
|
LIABILITIES |
|
|
|
|
CURRENT
LIABILITIES |
|
|
|
|
1 Short borrowings from banks [Including bills purchased and
discounted and the excess borrowings placed on repayment basis] |
|
|
|
|
[I] From applicant bank |
2.000 |
2.000 |
2.000 |
|
[II] From other bank |
-- |
-- |
-- |
|
Sub total [a] |
2.000 |
2.000 |
2.000 |
|
2 Short term borrowings from others |
-- |
-- |
-- |
|
3 Deposits [maturing within one year] |
-- |
-- |
-- |
|
4 Sundry creditors [Goods] |
1.000 |
1.050 |
1.100 |
|
5 Unsecured loans |
-- |
-- |
-- |
|
6 Advances / progress payments from customers / deposits from dealers
selling age |
-- |
-- |
-- |
|
7 Interest and other charges accrued but not due for payment |
0.050 |
0.050 |
0.050 |
|
8 Provision for Taxation |
-- |
-- |
-- |
|
9 Dividend payable |
-- |
-- |
-- |
|
10 Other statutory liabilities [due within one year] |
0.020 |
0.020 |
0.020 |
|
11 Installments of term loans / deffered payment credits / debentures
redeemable preference share [due within one year] |
-- |
-- |
-- |
|
12 Other current liabilities and provisions [due within one year]
[Major items to be specified individual capital expenses payable] |
0.255 |
0.325 |
0.330 |
|
Other [Creditor for Expenses] |
0.300 |
0.360 |
0.400 |
|
Sub Total [B] |
1.625 |
1.805 |
1.900 |
|
13 Total Current Liabilities |
3.625 |
3.805 |
3.900 |
|
|
|
|
|
|
LIABILITIES |
|
|
|
|
14 Debenture [not maturing within one year] |
-- |
-- |
-- |
|
15 Redeemable preference shares [not maturing within one year but of
maturity not exceeding 12 Years] |
-- |
-- |
-- |
|
16 Term Loans [Exclusive of instalments payable within one year] |
-- |
-- |
-- |
|
17 Deferred payment credits [Exclusive of instalments payable within
one year] |
-- |
-- |
-- |
|
18 Term deposits [repayable after one year] |
1.800 |
1.890 |
1.890 |
|
19 Other term liabilities |
-- |
-- |
-- |
|
20 Total term liabilities |
1.800 |
1.890 |
1.890 |
|
21 Total Outside liabilities |
5.425 |
5.695 |
5.790 |
|
NET WORTH |
|
|
|
|
|
|
|
|
|
22 Ordinary share capital [Including application money] |
2.051 |
2.037 |
2.344 |
|
23 Preference shares capital [maturing after 12 years] |
-- |
-- |
-- |
|
24 General reserve |
-- |
-- |
-- |
|
25 Development rebate reserve |
-- |
-- |
-- |
|
26 Other reserve [excluding provision] – subsidy |
-- |
-- |
-- |
|
27 Surplus [+] or deficit [-] in profit and loss account |
0.200 |
0.250 |
0.300 |
|
28 Net Worth
[Total of items 22 to 27] |
2.251 |
2.287 |
2.644 |
|
29 Total
Liabilities [21 + 28] |
7.676 |
7.982 |
8.434 |
|
CURRENT ASSETS |
|
|
|
|
|
|
|
|
|
30 Cash and Bank Balance |
0.065 |
0.075 |
0.090 |
|
31 Investments [Other than long term investments]
Government and other Trustee securities |
|
|
|
|
I] Fixed deposit with bank |
-- |
-- |
-- |
|
II] Share with Co-operative Bank |
-- |
-- |
-- |
|
|
|
|
|
|
32 I] Receivables other than deferred and exports
[Including bills purchased and discounted by banks] |
1.340 |
1.360 |
1.380 |
|
II] Export receivables [Including bills purchased /
discounted by banks] |
-- |
-- |
-- |
|
33 Instalments of Deferred receivables [due within
one year] |
-- |
-- |
-- |
|
34 Inventory |
-- |
---- |
-- |
|
I] Raw materials [Including stores and other items used in
the process of manufacture] |
-- |
-- |
-- |
|
Imported |
|
|
|
|
Indigenous |
1.400 |
1.500 |
1.400 |
|
II] Stock – in – process |
|
|
|
|
II] Finished Goods |
1.600 |
1.700 |
1.800 |
|
IV] Other consumable spares |
|
|
|
|
Imported |
-- |
-- |
-- |
|
Indigenous |
-- |
-- |
-- |
|
35 Advances recordable in Cash or kind |
-- |
-- |
-- |
|
36 Advance payment of taxes [NET] |
-- |
-- |
-- |
|
37 Other current assets |
0.020 |
0.020 |
0.020 |
|
38 TOTAL CURRENT ASSETS [Total of 26 to 33] |
4.425 |
4.655 |
4.690 |
|
FIXED ASSETS |
|
|
|
|
39 Gross Block |
1.000 |
1.040 |
1.100 |
|
40 Depreciation to date |
0.150 |
0.170 |
0.190 |
|
|
|
|
|
|
41 NET BLOCK [35-36] |
0.850 |
0.870 |
0.910 |
|
|
|
|
|
|
OTHER NON – CURRENT ASSETS |
|
|
|
|
42 Investments / book / debts / advances / deposits which
are not Current Assts |
|
|
|
|
I] [a] Others Investments in Subsidiary |
-- |
-- |
-- |
|
[b] Others companies / affiliates |
-- |
-- |
-- |
|
II] Advances to suppliers of capital goods and contractors
|
-- |
-- |
-- |
|
III} Deferred receivables [maturity exceeding one year] |
-- |
-- |
-- |
|
IV] Others |
-- |
-- |
-- |
|
43 Non consumables Stores and Spares |
-- |
-- |
-- |
|
44 Other non – current assets including dues from
directors |
-- |
-- |
-- |
|
|
|
|
|
|
45 TOTAL OTHER NON – CURRENT ASSETS [total of 42 to 44] |
-- |
-- |
-- |
|
46 Intangible assets [Patents, goodwill, prelim, expenses,
bad / doubtful debts Not provided for etc.] |
-- |
-- |
-- |
|
|
|
|
|
|
47 TOTAL ASSETS [Total of 38, 41, 45 and 46] |
5.275 |
5.525 |
5.600 |
|
48 TANGIBLE NET WORTH [28-46] |
2.251 |
2.287 |
2.644 |
|
49 NET WORKING CAPITAL [38-13] |
0.800 |
0.850 |
0.790 |
|
50 Current Ratio [Items 38/13] |
0.122 |
0.122 |
0.120 |
FUND FLOW
STATEMENT
Rs in Millions
|
Particulars |
2008-09 Current
Year |
2009-10 Follow
Year |
2010-11 Follow
Year |
|
|
Estimated |
Projected |
|
|
|
|
|
|
|
SOURCES |
|
|
|
|
Profit before tax |
0.200 |
0.250 |
0.300 |
|
Add : Depreciation |
0.150 |
0.170 |
0.190 |
|
Add : P & P Expenses Written off |
-- |
-- |
-- |
|
Add : Prior Year adjustment |
-- |
-- |
-- |
|
Gross funds generated |
0.350 |
0.420 |
0.490 |
|
Less : Provision for taxation |
-- |
-- |
-- |
|
Less : Depreciation on Vehicle Sold |
0.150 |
0.170 |
0.190 |
|
Less : Dividends paid / payable [relating to the year] |
-- |
-- |
-- |
|
A
Sub total net funds generated |
0.200 |
0.250 |
0.300 |
|
Increase : in capital |
0.800 |
0.050 |
0.060 |
|
Increase Term loans / debentures deferred payment
liabilities |
-- |
-- |
-- |
|
Increase Public deposits |
1.800 |
0.090 |
-- |
|
Increase Reserve / subsidy |
-- |
-- |
-- |
|
Decrease in Fixed Assets |
-- |
-- |
-- |
|
Decrease Inter corporate investments and advances |
-- |
-- |
-- |
|
Decrease Other non – current assets |
-- |
-- |
-- |
|
Decrease Intangible Assets |
-- |
-- |
-- |
|
B
Sub Total |
2.600 |
0.140 |
0.060 |
|
Increase in short term bank borrowings [Including bill
purchased and discounted by bankers] |
-- |
-- |
-- |
|
Increase in other current liabilities |
1.625 |
0.180 |
0.095 |
|
Decrease in inventory |
-- |
-- |
-- |
|
Decrease Receivables [Including bills purchased and
discounted by bankers] |
-- |
-- |
-- |
|
Other current assets [Including cash and bank balances] |
-- |
-- |
-- |
|
C
Sub Total |
1.625 |
0.180 |
0.095 |
|
Total
Funds Available |
4.425 |
0.570 |
0.335 |
|
ASSETS |
[C] |
[D] |
[E] |
|
USES |
|
|
|
|
Increase in Fixed Assets |
1.000 |
0.040 |
0.060 |
|
Decrease in Capital |
-- |
-- |
-- |
|
Decrease in Term Loan / Debentures / Decrease in derrered
payment liabilities |
-- |
-- |
-- |
|
Decrease in public deposits |
-- |
-- |
-- |
|
Increase in Inter Corporate invest and advances |
-- |
-- |
-- |
|
Increase in other non – current assets |
-- |
-- |
-- |
|
Increase in Intengible Assets |
-- |
-- |
-- |
|
D
Sub Total |
1.000 |
0.040 |
0.060 |
|
Decrease in short term bank borrowing [including bill
purchased and discounted by bankers] |
-- |
-- |
-- |
|
Decrease in other current liabilities |
0.051 |
0.060 |
0.104 |
|
Increase in Inventory |
3.000 |
0.200 |
-- |
|
Increase in Receivables [Including bills purchased and
discounted by bankers] |
1.340 |
0.020 |
0.020 |
|
Increase in other current assets [Including Cash and Bank
Balances] |
0.085 |
0.095 |
0.110 |
|
E
Sub Total |
4.374 |
0.375 |
0.234 |
|
Loss |
-- |
-- |
-- |
|
Loss Depreciation |
-- |
-- |
-- |
|
Balance i.e. Gross Funds lost [-] or Gross funds generated
[+] |
-- |
-- |
-- |
|
Add taxes paid / payable [relating to the year] |
-- |
-- |
-- |
|
Add dividends paid / payable [relating to the year] |
-- |
-- |
-- |
|
F
Sub total net funds lost |
-- |
-- |
-- |
|
Total
funds used [D+E+F] |
5.374 |
0.415 |
0.294 |
|
|
|
|
|
|
SUMMARY
|
|
|
|
|
Long term sources |
2.800 |
0.390 |
0.240 |
|
Less : Long term uses |
1.000 |
0.040 |
0.060 |
|
Surplus [+] / Shortfall [-] |
1.800 |
0.350 |
0.180 |
|
Short term sources |
1.625 |
0.180 |
0.095 |
|
Less : Shirt tern uses |
4.374 |
0.375 |
0.234 |
|
Surplus [+] / Shortfall [-] |
2.749 |
0.195 |
0.139 |
NOTES
- Under the
terms “Increase in term loans, debentures, deferred payment liability,
each of the term loan and deferred liabilities, together with the names of
concerned leading / guaranteeing institution. Should be indicated
separately”
- Similarly,
under the items “Decrease in term loans, debentures, deferred payment
liabilities” the repayment of each of the term loans and deffered
liabilities, together with the names of the leading / guaranteeing
institution should be indicated separately.
- In the case
of term loan proposals, this statement should be indicated seprate.
- Whrever there
is a significant movement of funds, the banks should give their comments.
- Figures
should be filled in here only when
the total effect is net funds lost. In case of loss, if loss, taxes and
dividends are more than compensated by depreciation, the amount of loss
should be under “sources” against the item “Profit before tax” with a
negative figure.
FOR MANUFACTURING
ENTITIES / FACTORY SITE [S]
|
Principal raw material and sources |
MS. Pipe, bimetal strip, bimetal strip, Tin in local market |
|
Manufacturing Process |
Chain process |
|
Major branded and imported machines, installed |
Local branded machinery |
|
Pollution Control : Any pollutants being generated and their disposal |
Non |
|
Power : Connected loan and back up availability |
40 HP [PHVCL] |
|
Workers / Split of temporary permanent / any unions |
Worker |
COMPUTATION OF
MAXIMUM PERMISSIBLE BANK FINANCE FOR WORKING CAPITAL
Rs in Millions
|
|
As per balance sheet as at |
||
|
|
2008-09 |
2009-10 |
2010-11 |
|
NAYAK COMMITTEE RECOMMENDED FORMULA |
|
|
|
|
1 Estimated / Projected Turnover |
10.000 |
10.500 |
11.000 |
|
2 Working Capital Requirement [25 % of 1] |
2.500 |
2.625 |
2.750 |
|
3 Permissible Bank Finance [20 % of 1] |
2.000 |
2.100 |
2.200 |
|
4 Required contribution from the unit [05 % of 1] |
0.500 |
0.525 |
0.550 |
|
5 Estimated / Projected Net W.C. |
1.000 |
1.100 |
1.090 |
|
6 Maximum Permissible Bank finance [2-4] |
2.000 |
2.100 |
2.200 |
|
7 [2-5] |
1.500 |
1.525 |
1.660 |
|
8 Recommended working Capital Limits at the Instance of
the Unit |
2.000 |
2.000 |
2.000 |
BIO
– DATA FORM
|
Full Name |
Mr. Mansukhbhai
Jethabhai Saparia |
|||||||||||||||||||||||||||||||||||||||||||||
|
Relationship, if
any |
Managing Partner |
|||||||||||||||||||||||||||||||||||||||||||||
|
Ration card No. and the Name of issuing office |
09/006/0000004/254342/10716 |
|||||||||||||||||||||||||||||||||||||||||||||
|
Capital / Loan contribution in the unit |
|
|||||||||||||||||||||||||||||||||||||||||||||
|
Aggregate credit facility enjoyed by the concern |
Rs. 2.000 Millions |
|||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||
|
STATEMENT OF ASSENT AND LIABILITIES FOR SSI LOAN
OVER RS. 0.200 MILLION |
||||||||||||||||||||||||||||||||||||||||||||||
|
DETAILS OF ASSENT OWNED |
|
|||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||
|
Investment in Business Capital |
|
|||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||
|
Life Insurance Policies |
Rs. 0.094 Million |
|||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||
|
Immovable Properties
|
||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||
|
Other Assets [Including Movable assets like furniture and Fixture /
Plant and machinery / Vehicles Jewels, etc |
|
|||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||
|
Total Assets |
Rs. 4.742 Millions |
|||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||
|
Net Worth |
Rs. 4.742 Millions |
|||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||
|
Details of Existing Guarantee Obligations |
|
|||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||
|
LIC Policies
|
||||||||||||||||||||||||||||||||||||||||||||||
|
Full Name |
Mr. Kanjibhai J.
Saparia |
||||||||||||||||||||||||||||||||
|
Relationship, if
any |
Partner |
||||||||||||||||||||||||||||||||
|
Capital / Loan contribution in the unit |
|
||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||
|
Aggregate credit facility enjoyed by the concern |
Rs. 2.000 Millions |
||||||||||||||||||||||||||||||||
|
STATEMENT OF ASSENT AND LIABILITIES FOR SSI LOAN
OVER RS. 0.200 MILLION |
|||||||||||||||||||||||||||||||||
|
DETAILS OF ASSENT OWNED |
|
||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||
|
Investment in Business Capital |
|
||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||
|
Immovable Properties
|
|||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||
|
Other Assets [Including Movable assets like furniture and Fixture /
Plant and machinery / Vehicles Jewels, etc |
|
||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||
|
Net Worth |
Rs. 2.615 Millions |
||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||
|
Details of Existing Guarantee Obligations |
|
||||||||||||||||||||||||||||||||
|
Full Name |
Mrs. Narmadaben
V. Saparia |
||||||||||||||
|
Relationship, if
any |
Partner |
||||||||||||||
|
Capital / Loan contribution in the unit |
|
||||||||||||||
|
Aggregate credit facility enjoyed by the concern |
Rs. 2.000 Millions |
||||||||||||||
|
|
|
||||||||||||||
|
STATEMENT OF ASSENT AND LIABILITIES FOR SSI LOAN
OVER RS. 0.200 MILLION |
|||||||||||||||
|
DETAILS OF ASSENT OWNED |
|
||||||||||||||
|
|
|
||||||||||||||
|
Investment in Business Capital |
|
||||||||||||||
|
|
|
||||||||||||||
|
Immovable Properties
|
|||||||||||||||
|
|
|
||||||||||||||
|
Other Assets [Including Movable assets like furniture and Fixture /
Plant and machinery / Vehicles Jewels, etc |
|
||||||||||||||
|
|
|
||||||||||||||
|
Net Worth |
Rs. 1.217 Millions |
||||||||||||||
|
|
|
||||||||||||||
|
Details of Existing Guarantee Obligations |
|
||||||||||||||
|
Full Name |
Mrs. Harshaben
J. Saparia |
|
||||||||||||
|
Relationship, if
any |
Partner |
|
||||||||||||
|
Capital / Loan contribution in the unit |
|
|
||||||||||||
|
Aggregate credit facility enjoyed by the concern |
Rs. 2.000 Millions |
|
||||||||||||
|
STATEMENT OF ASSENT AND LIABILITIES FOR SSI LOAN
OVER RS. 0.200 MILLION |
||||||||||||||
|
DETAILS OF ASSENT OWNED |
|
|||||||||||||
|
|
|
|||||||||||||
|
Investment in Business Capital |
|
|||||||||||||
|
|
|
|
||||||||||||
|
Immovable Properties
|
|
|||||||||||||
|
|
|
|
||||||||||||
|
Other Assets [Including Movable assets like furniture and Fixture /
Plant and machinery / Vehicles Jewels, etc |
|
|
||||||||||||
|
|
|
|
||||||||||||
|
Net Worth |
Rs. 1.217 Millions |
|
||||||||||||
|
|
|
|
||||||||||||
|
Details of Existing Guarantee Obligations |
|
|
||||||||||||
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.46.94 |
|
UK Pound |
1 |
Rs.85.57 |
|
Euro |
1 |
Rs.67.79 |
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 |
Unfavourable & favourable factors carry similar weight in credit
consideration. 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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|