MIRA INFORM REPORT
|
Report Date : |
14.04.2011 |
IDENTIFICATION DETAILS
|
Name : |
SHRI BADRINARAIN ALLOYS AND STEEL LIMITED |
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Formerly Known
As : |
SHRI BADRINARAIN ENTERPRISES LIMITED |
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Registered
Office : |
6/2, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
06.01.1983 |
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Com. Reg. No.: |
21-35650 |
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CIN No.: [Company Identification
No.] |
L27100WB1983PLC035650 |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer of Steel |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba ( 50 ) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 3120000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to
be usually correct and as per commitments. The company can be considered normal 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 – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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|
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
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Registered Office : |
6/2, |
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Tel. No.: |
91-33-22895450 / 1 / 2 |
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Fax No.: |
91-33-30231900 |
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E-Mail : |
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Website : |
DIRECTORS
|
Name : |
Mr. Avinash Chandra Gupta |
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Designation : |
Managing Director |
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Address : |
7, Iron Side Road, Harikunj, Kolkata –700019 |
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Date of Birth/Age : |
01.08.1955 |
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Date of Appointment : |
01.01.2002 |
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DIN : |
00029546 |
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Name : |
Mr. Shailesh Agarwal |
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Designation : |
Director |
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Address : |
205 – A, |
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Date of Birth/Age : |
02.07.1954 |
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Date of Appointment : |
01.06.2006 |
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DIN : |
00166885 |
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Name : |
Mr. Narain Hari Gupta |
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Designation : |
Joint Managing Director |
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Address : |
7, Iron Side Road, Harikunj, Kolkata – 19 |
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Date of Birth/Age : |
25.10.1966 |
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Date of Appointment : |
01.01.2002 |
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DIN : |
00038819 |
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Name : |
Mr. Mahabir Pershad Bhardwaj |
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Designation : |
Director |
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Address : |
432, Green Haven, Sector – 4, Dwaraka, Phase – 1, |
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Date of Birth/Age : |
15.12.1944 |
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Date of Appointment : |
15.07.2007 |
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DIN : |
01874292 |
KEY EXECUTIVES
|
Name : |
Mr. Bijay Ketan Barik |
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Designation : |
Secretary |
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Address : |
9/39 A, Netaji Nagar, Kolkata – 92 |
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Date of Birth/Age : |
14.07.1975 |
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Date of Appointment : |
02.08.2010 |
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PAN : |
AMKPB0768N |
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Name : |
Mr. Deepak Swain |
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Designation : |
Company Secretary |
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Address : |
50, |
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Tel No. : |
91-33-22110610 |
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Mobile No. : |
91-9830866845 |
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Email : |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Gupta Chandra Avinash |
|
749775 |
|
Gupta Anita |
|
38125 |
|
Aarpee Commercial Private Limited, |
|
15520 |
|
Lundia Kumar Binod |
|
25 |
|
Chetlal Vishwakarma |
|
750 |
|
Prachi Chemical and Industries Limited, |
|
1000 |
|
Shri Badrinarain Infrastructure Private Limited, |
|
1125 |
|
Bhutnath Tie Up Private Limited, |
|
200000 |
|
BIC Foundry Private Limited, |
|
214000 |
|
Charansela Consultants Private Limited |
|
200000 |
|
Domebell Electronics India private Limited |
|
300000 |
|
Devlok Marketing |
|
100000 |
|
Excell Steels (Unit of Badrinath Industries Limited ), |
|
400000 |
|
Escorts Finevest Private Limited |
|
9440 |
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ElectroCoke Fuels Limited, |
|
357000 |
|
Ganapati Steel Industries, |
|
320000 |
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Indian Financial Journals private Limited, |
|
61375 |
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Jhon R.P. Jaceline |
|
25 |
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Sekseria Nath Kashi |
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25 |
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Durga Advisory Services Private Limited, |
|
1125 |
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Krishna Export Private Limited, |
|
188000 |
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Kumar Brother |
|
900000 |
|
Gupata Rani Lekha |
|
64750 |
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Laxmi Cores Manufacturing Private Limited, |
|
475000 |
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Labeshwari Vinimay Private Limited, |
|
24950 |
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Shiv Ranjini Gupta |
|
1125 |
As on 30.09.2010
|
Category |
Percentage |
|
Bodies corporate |
77.98 |
|
Directors or relatives of Directors |
8.09 |
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Other top fifty shareholders |
13.93 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Steel |
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Products : |
Ř Secondary Products Ř Finished Products Ř Ctd Bars Ř TMT Bars Ř
Galvanized Bars
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Imports : |
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Products : |
Ř Ferrous Scrap Ř Raw Materials |
PRODUCTION STATUS AS ON 31.03.2010
|
Particulars |
Unit |
Actual
Production |
|
MS Ingot, Billet, Runner Riser, Tor Steel, TMT Bar and CTD Bar |
MT. |
188521.140 |
|
Note : (a) Production of MS lngot & Billet 103502.460MT. (Previous Year 83684.450.) includes 60066.530 MT, ( Previous Year 49939.850 MT. ) utilised as Raw Materials for Production of TMT Bar and 889.240 MT ( Previous Year 1628.630MT ) Transfer for Remelting as raw material (b) Production of M S Tor Steel and CTD Bar
85016.680 MT. (Previous Year 60164.800 MT) includes 8492.440 MT.(Previous
Year - 7664.680 MT) utilised as raw
material for production of M S Ingot,
Runner and Riser. |
||
GENERAL INFORMATION
|
Bankers : |
Ř
Bank of Ř
Indian Overseas Bank, Jawaharlal Nehru Road Branch,
35/1, Jawahrlal Nehru Road, Kolkata – 700071, West Bengal, India |
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Facilities : |
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Auditors : |
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Name : |
C L Saraf and Company Chartered Accountant |
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Address : |
21 A, Stephen House, 4 B B D Bag, Kolkata – 700001, West |
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Tel No. : |
91-33-22109220 / 22483218 |
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PAN No. : |
AADFC0191M |
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Associates : |
Ř
Lilloah Flour Mills Private Limited Ř
Electro Coke Fuels Limited Ř
Vrinda Ispat Private Limited Ř
Shri Ambika Ispat ( Ř
Prachi Chemicals and Industries Limited Ř
Shri Badrinarain Infrastructure Private Limited |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
16,650,000 |
Equity Shares |
Rs.10/- each |
Rs.166.500
Millions |
|
10,000 |
Preference Shares (2% Redeemable Non Cumulative ) |
Rs.100/- each |
Rs.1.000 Millions |
|
|
Total |
|
Rs.167.500
Millions |
As on 30.09.2010
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
13,174,450 |
Equity Shares |
Rs.10/- each |
131.744
Millions |
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Note
:
*13174450 (previous year - 11502300) equity
shares of Rs.10/- each
*out of above 3,60,000 equity shares
allotted by way of bonus shares by capitalization of profit and 6022300 equity
shares allotted by way of Amalgamation.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
131.745 |
115.023 |
54.800 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
650.363 |
416.472 |
176.459 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
782.108 |
531.495 |
231.259 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
684.864 |
667.518 |
518.070 |
|
|
2] Unsecured Loans |
301.617 |
503.077 |
424.172 |
|
|
TOTAL BORROWING |
986.481 |
1170.595 |
942.242 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1768.589 |
1702.090 |
1173.501 |
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|
|
|
|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
487.454 |
415.954 |
364.202 |
|
|
Capital work-in-progress |
20.597 |
0.000 |
9.600 |
|
|
|
|
|
|
|
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INVESTMENT |
50.805 |
294.935 |
7.444 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
905.813
|
595.128 |
492.172 |
|
|
Sundry Debtors |
689.755
|
786.836 |
636.768 |
|
|
Cash & Bank Balances |
183.199
|
31.609 |
41.688 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
301.799
|
272.691 |
115.005 |
|
Total
Current Assets |
2080.566
|
1686.264 |
1285.633 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
518.445
|
362.351 |
420.057 |
|
|
Other Current Liabilities |
298.669
|
290.458 |
59.934 |
|
|
Provisions |
53.719
|
42.412 |
30.243 |
|
Total
Current Liabilities |
870.833
|
695.221 |
510.234 |
|
|
Net Current Assets |
1209.733
|
991.043 |
775.399 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.158 |
16.856 |
|
|
|
|
|
|
|
|
TOTAL |
1768.589 |
1702.090 |
1173.501 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
3797.778 |
3143.802 |
2620.951 |
|
|
|
Other Income |
9.131 |
13.214 |
19.355 |
|
|
|
TOTAL (A) |
3806.909 |
3157.016 |
2640.306 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Increase/ Decrease |
(253.778) |
(2.451) |
(182.602) |
|
|
|
Direct Cost of goods Sold |
3287.226 |
2502.972 |
2279.344 |
|
|
|
Payment and Provision for Employees |
17.363 |
13.880 |
11.017 |
|
|
|
Manufacturing, Administrative and Selling Expenses |
520.736 |
439.915 |
382.392 |
|
|
|
Duties |
0.035 |
0.792 |
0.141 |
|
|
|
TOTAL (B) |
3571.582 |
2955.108 |
2490.292 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
235.327 |
201.908 |
150.014 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
81.666 |
91.640 |
42.459 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
153.661 |
110.268 |
107.565 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
48.709 |
46.153 |
26.622 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
104.952 |
64.115 |
80.943 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
22.449 |
12.126 |
19.387 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
82.503 |
51.989 |
61.556 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
181.774 |
129.785 |
68.171 |
|
|
|
|
|
|
|
|
|
Add |
EXCESS INCOME TAX PROVISION WRITTEN BACK (NET) |
0.894 |
0.000 |
0.058 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
265.171 |
181.774 |
129.785 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
0.000 |
0.000 |
0.819 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
Raw Materials |
2743.198 |
2041.491 |
1469.834 |
|
|
|
Stores & Spares |
51.594 |
37.299 |
63.528 |
|
|
|
Ferro Alloys |
49.023 |
52.623 |
27.502 |
|
|
|
TOTAL IMPORTS |
2843.815 |
2131.413 |
1560.864 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
6.26 |
4.52 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
2.17
|
1.65 |
2.33 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.76
|
2.04 |
3.09 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.09
|
3.05 |
4.91 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.13
|
0.12 |
0.35 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.37
|
3.51 |
6.28 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.39
|
2.43 |
2.52 |
LOCAL AGENCY FURTHER INFORMATION
Change of Address:
Registered office of the company has been shifted from, 95, Stephen
House 4 B B D BAGP S. Hare Street, Kolkata - 700001, West Bengal, India, to the
present address w.e.f. 07.06.2007
Financial Results
:
The turnover of the company during 2009-10 increased to Rs.3797.700
millions from Rs. 3143.802 millions in the previous year indicating a growth of
about 20.80%. IN line with prevailing market condition after the great fall in
the financial year 2008-09 of steel industry in the country the company’s profitability
has been satisfactory. The company earned profit after tax of Rs.82.502
millions in 2009-10 as compared to profit of Rs.51.988 millions in the previous
year.
Prospect :
After the unprecedented recession faced by the entire world market, the
economy now gate its old path to run. Like the other partners of the steel
industries their company has also faced the
unlike movement of the economy. People bound to think about the
sustainability in that situation. But that time has gone in its own way. Now the
market revamping its losses for that period and somehow steel industries eying
towards a big market in near future. Due to recession demand curved down and
stocks in the yard yet to be identified even if it is a new product lunching.
But now it's all over. People rethink about luxury. To inline with the economy
their company is looking forward and getting responses from the market as
expected.
Contingent
Liabilities :
(Rs. in million)
|
Particulars |
31.03.2010 |
|
Bank Guarantees issued by bank of |
0.080 |
|
Claims against the company not acknowledged as debt is |
|
|
i) Excise duty claim not acknowledged as debts |
2.285 |
|
ii) Excise duty disputed under appeal |
0.169 |
|
iii)Sales tax disputed under appeal |
2.957 |
|
Total |
5.491 |
Form 8
|
Corporate
identity number of the company |
L27100WB1983PLC035650 |
|
Name of the
company |
SHRI BADRINARAIN ALLOYS & STEELS LTD |
|
Address of the
registered office or of the principal place of business in |
6/2, |
|
This form is for |
Creation of
charge |
|
Type of charge |
Ř Book Debts Ř Movable Property Ř Immovable Property Ř Others |
|
Particular of
charge holder |
Bank of Email : brabou@bankofbaroda.com |
|
Nature of
description of the instrument creating or modifying the charge |
Joint Deed of
Hypothecation Memorandum of
Entry |
|
Date of
instrument Creating the charge |
11.02.2011 |
|
Amount secured by
the charge |
Rs. 1230.180
Millions. |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest
: Interest and
other charges will be paid as per terms and conditions of Sanction Terms of respective
consortium member banks, however the same is subject to change from time to
time. Terms of
Repayment : The Working
Capital shall be repayable on demand. Margin : The borrower
shall maintain appropriate margin as stipulated in the sanction terms of the
respective consortium member banks. The applicable margin against respective
credit facilities are mentioned in the Hypothecation Agreement. Extent and
Operation of the charge : The security
created under said Agreement shall operate as continuing security and shall
be on pari passu basis among consortium member banks. The charged
assets property be kept at the Company’s risk and expense in good condition
and fully insured against loss or damage by fire, lighting or explosion or
theft and also against loss or damage by riot and civil commotion etc. as may
be required by the Bank in the joint names of the Banks and the Company. Others : The company
hereby declares that all the charged property now existing are absolute
property of and at the sole disposal of the company and free from any prior
charge or encumbrance and undertakes that all future property shall like wise
be the unencumbered and absolute and disposable property of the company. Other terms and
conditions are as per terms and conditions of above referred Agreement and
Sanction Terms of the respective banks. |
|
Short particulars
of the property charged |
The Borrower
hereby hypo. And charges by way of 1st
Pari Passu charge.all and singular stocks of Raw Materials viz. M S Scrap,
C.I. Scrap, Sponge Iron, Pig Iron Etc, Stock in Process, Semi – Finished
Goods, namely Steel Ingots and TMT Bars and rounds other similar related
items, packing materials and stores etc. now being and lying in the
Borrower’s Factory situated at Tulsiberia Road. Mouza Serampore,
P.S. uluberia, District Howrah in the state of Gram Panchayat,
P.S. Uluberia, Dist. By way of 2nd Charge. d) all tangible
mobable and immovable plant and machinery, furniture, fixture, tools,
vehicles etc together with spares tools and
accessories and other fixed assets of the borrower whether installed or lying
in and / or used in the borrower’s factories / godown or anywhere else both
present and future |
Fixed
Assets:
- Land
- Factory Shed
and Building
- Plant and
Machinery
- Vehicles
- Furniture and
Fixture
- Office
Equipment
- Rolls
- Mould
Profile
Shri Badrinarain Alloys and Steel Limited was incorporated
in 1988 as a steel manufacturing organization based in
The firm today boasts of a fully integrated steel plant with induction furnaces and a state -of-the-art rolling mill. Innovation, technological enhancement and diversification have helped the company survive the cut-throat competition.
SBASL is amongst the largest producers of constructional
steel in eastern
The following can be cited as the thriving factors of the company:
Ř Vertical Process Integration
Ř Modernisation Programmes
Ř Quality Consciousness
Ř Knowledge Based Processes
Ř Environment Awareness
Products
Vertical and Horizontal
process integration has diversified the company's product portfolio into two
categories:
Secondary products
Finished products
Secondary Products :
In the first stage of the integration process the firm melts various compositions of ferrous scrap and other raw material such as sponge iron, cast iron and pig iron to produce mild steel ingots. The entire production is utilized for captive consumption as a source of raw material for the rolling mill. The ingots are reheated at high temperatures to make them malleable for rolling into finished products.
Finished Products :
The multi-sectional , high speed and continuous rolling mill is used to manufacture various kinds of reinforcement steel bars and rods such as :
CTD BARS
Cold Twisted Deformed Bars have high strength and proof stress and are being produced by High Speed Rolling and precision col twisting. Technology parameters and their comparison with BIS is illustrated on the chart opposite as exhibited.
Ř Better fatigue strength
Ř Optimum bendability
Ř Suitable for compression and tension re-inforcement
TMT BARS
TMT bars are Thermo-Mechanically Treated for high yield strength. Subject has a collaboration with the German based EVCON Technologies for the manufacturing process., The process involves the rapid quenching of hot bars through a series of water jets after they come out of the last rolling mill stand. The bars are cooled allowing the core and surface temperatures to equalize. The bar core cools down slowly to turn into a ferrlitepearlite aggregate. The strength of the bars are carefully controlled by optimizing the water pressure for their-pearlitic core and the tough surface of tempered marten site, thereby providing an optimum combination of high strength, ductility and toughness.
Ř Enhanced strength
Ř Thermal resistant with optimum durability
Ř High ductility
GALVANIZED BARS
In order to enhance the corrosion resistance of TMT / CTD bars, they have conducted extensive R and D for the galvanization of these bars. Results obtained have been positive. The firm manufactures these specific bars only on bulk orders.
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.44.48 |
|
|
1 |
Rs.72.36 |
|
Euro |
1 |
Rs.64.42 |
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 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
50 |
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.