MIRA
INFORM REPORT
|
Report Date : |
23.12.2011 |
IDENTIFICATION DETAILS
|
Name : |
PRATIBHA PIPES AND STRUCTURAL LIMITED (w.e.f. 1.12.2006) |
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Formerly Known
As : |
PRATIBHA PIPES AND STRUCTURAL PRIVATE LIMITED |
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Registered Office
: |
101, Usha Kamal, 574, Chembur Naka, Chembur, Mumbai – 400071, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
22.05.1996 |
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Com. Reg. No.: |
11-099745 |
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Capital
Investment / Paid-up Capital : |
Rs.21.021 Millions |
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CIN No.: [Company Identification
No.] |
U29110MH1996PLC099745 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMP08930F |
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PAN No.: [Permanent Account No.] |
AAACP4898A |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturing and Fabrication of Pipes, Structural and Export there
of. |
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No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
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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 2200000
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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.
INFORMATION DECLINED BY
|
Name : |
Mr. Mayur C. Barvadiya |
|
Designation : |
Company Secretary |
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Contact No.: |
91-22-39559999 |
|
Date : |
22.12.2011 |
LOCATIONS
|
Registered Office : |
101, Usha Kamal, 574, Chembur Naka, Chembur, Mumbai – 400071, |
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Tel. No.: |
91-22-39559999 |
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Fax No.: |
91-22-39559900 |
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E-Mail : |
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Website : |
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Head Office : |
Universal Majestic, 13th and 14th Floor, P. L. Lokhande
Marg, Ghatkopar Mankhurd Link Road, Opposite
RBK International School, Govandi,
Mumbai - 400 043, Maharashtra, India. |
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Tel. No.: |
91-22-39559999 |
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Fax No.: |
91-22-39559900 |
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E-Mail : |
DIRECTORS
As on 30.08.2011
|
Name : |
Mr. Ajit Bhagwan kulkarni |
|
Designation : |
Managing Director |
|
Address : |
501, Usha Kamal, 574, Chembur Naka, Chembur, Mumbai – 400 071, |
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Date of Birth/Age : |
06.02.1958 |
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Qualification : |
Under Graduate |
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Date of Appointment : |
22.05.1996 |
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DIN No.: |
00220578 |
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Name : |
Mrs. Usha Bhagwan Kulkarni |
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Designation : |
Director |
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Address : |
101, Usha Kamal, 574, Chembur Naka, Chembur, Mumbai – 400 071, |
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Date of Birth/Age : |
05.05.1935 |
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Qualification : |
B.A. |
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Date of Appointment : |
20.07.1997 |
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DIN No.: |
00220531 |
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Name : |
Mr. Vinayak Bhagwan Kulkarni |
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Designation : |
Director |
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Address : |
301, Usha Kamal, 574, Chembur Naka, Chembur, Mumbai – 400 071, |
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Date of Birth/Age : |
24.04.1947 |
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Qualification : |
B.Sc. |
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Date of Appointment : |
31.03.2006 |
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DIN No.: |
00226077 |
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Name : |
Mr. Rohit Ramnath Katyal |
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Designation : |
Director |
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Address : |
B-23, |
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Date of Birth/Age : |
09.01.1971 |
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Qualification : |
B.Com |
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Date of Appointment : |
01.11.1998 |
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DIN No.: |
00252944 |
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|
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Name : |
Mr. Rahul Ramnath Katyal |
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Designation : |
Director |
|
Address : |
B/4, Aarina park C.H.S. mankhurd, Mumbai – 400088, |
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Date of Birth/Age : |
01.03.1975 |
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Qualification : |
B.Com |
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Date of Appointment : |
16.02.2006 |
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DIN No.: |
00253046 |
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Name : |
Mr. Ajay Vinayak Kulkrani |
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Designation : |
Whole-time Director |
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Address : |
301, Usha Kamal, 574, Chembur Naka, Chembur, Mumbai – 400 071, |
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Date of Birth/Age : |
11.08.1979 |
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Qualification : |
B.Com |
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Date of Appointment : |
14.07.2011 |
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DIN No.: |
03461373 |
KEY EXECUTIVES
|
Name : |
Mr. Mayur Chimanbhai Barvadiya |
|
Designation : |
Company Secretary |
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Address : |
401, “A’ Krishna Complex, Plot No.7, Sector 15, sanpada (East), Navi
Mumbai – 400705, Maharashtra, India |
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Date of Birth/Age : |
21.11.1975 |
|
Date of Appointment : |
15.03.2008 |
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PAN No.: |
AHDPB5965F |
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|
|
Name : |
Mr. R. K. Goel |
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Designation : |
Custom Built Structure (CBS) |
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|
Name : |
Ms. Suman Patkar |
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Designation : |
Human Resource Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.08.2011
|
Names of Shareholders |
|
No. of Shares |
|
Usha B. Kulkarni Jointly Ajit B. Kulkarni |
|
233300 |
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Ajit B. Kulkarni Jointly with Samidha A. Kulkarni |
|
661500 |
|
Samidha A. Kulkarni |
|
66500 |
|
Ramdas D. Kulkami |
|
15000 |
|
Radha R Kulkami |
|
12500 |
|
Shyam R Kulkami |
|
2500 |
|
Sunanda D. Kulkami |
|
143700 |
|
Vinayak H. Kulkami
Jointly Vandana V. Kulkami |
|
311350 |
|
Vandana
Vinayak Kulkami |
|
10000 |
|
Sanjay Vinayak Kulkami |
|
4000 |
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Rohit
Ramnath Katyal Jointly with Sakshi R. Kanyal |
|
44350 |
|
Sakshi R.
Kanyal Jointly with Rohit Ramnath Katyal |
|
44350 |
|
Renu R
Katyal Jointly with Rohit Katyal Jointly with Sakahi Katyal |
|
56125 |
|
Rahul
Ramnath Katval Jointly with Nidhi Rahul Katyal |
|
33500 |
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Renu R Katyal,
Rahul Ramnath Katval Jointly with Nidhi Rahul Katyal |
|
111325 |
|
One Metro India Private
Limited, |
|
352112 |
|
Total |
|
2102112 |
As on 30.08.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
16.75 |
|
Directors or relatives of Directors |
83.25 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Fabrication of Pipes, Structural and Export there of |
PRODUCTION STATUS
As on 31.03.2011
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
M S Pipes |
MT |
Not Available |
108.00 |
23.23 |
|
Structure |
MT |
Not Available |
108.00 |
9.78 |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management. |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Jayesh Sanghrajka and Company Chartered Accountants |
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Address : |
405-408, Hind Rajasthan Centre, D. |
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PAN.: |
AADFJ9072C |
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Subsidiaries : |
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Associates : |
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Joint Ventures : |
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CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2102112 |
Equity Shares |
Rs.10/- each |
Rs.21.021
Millions |
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
21.021 |
21.021 |
21.021 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
519.996 |
467.253 |
418.367 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
541.017 |
488.274 |
439.388 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1015.624 |
447.082 |
254.571 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
1015.624 |
447.082 |
254.571 |
|
|
DEFERRED TAX LIABILITIES |
64.446 |
34.455 |
29.796 |
|
|
|
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|
|
|
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TOTAL |
1621.087 |
969.811 |
723.755 |
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APPLICATION OF FUNDS |
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|
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FIXED ASSETS [Net Block] |
1003.169 |
427.641 |
355.548 |
|
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Capital work-in-progress |
243.821 |
92.090 |
0.000 |
|
|
|
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|
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INVESTMENT |
1.321 |
1.226 |
63.154 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
485.729
|
419.644 |
198.007 |
|
|
Sundry Debtors |
346.902
|
369.173 |
334.312 |
|
|
Cash & Bank Balances |
131.591
|
31.158 |
27.194 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
271.590
|
342.961 |
161.460 |
|
Total
Current Assets |
1235.812
|
1162.936 |
720.973 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
696.867 |
472.921 |
303.238 |
|
|
Other Current Liabilities |
124.656
|
197.364 |
59.653 |
|
|
Provisions |
41.513
|
43.797 |
53.029 |
|
Total
Current Liabilities |
863.036
|
714.082 |
415.920 |
|
|
Net Current Assets |
372.776
|
448.854 |
305.053 |
|
|
|
|
|
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|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1621.087 |
969.811 |
723.755 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2154.154 |
1525.215 |
2399.872 |
|
|
|
Other Income |
87.844 |
16.271 |
5.271 |
|
|
|
TOTAL (A) |
2241.998 |
1541.486 |
2405.143 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption material changes inventories |
1415.481 |
1040.354 |
|
|
|
|
Manufacturing Service Cost |
461.471 |
252.348 |
|
|
|
|
Employee Related expenses |
87.198 |
20.092 |
|
|
|
|
Administrative selling other expenses
|
59.749 |
71.055 |
|
|
|
|
TOTAL (B) |
2023.899 |
1383.849 |
2210.795 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
218.099 |
157.637 |
194.348 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
76.316 |
67.171 |
55.221 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
141.783 |
90.466 |
139.127 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
34.524 |
19.811 |
14.757 |
|
|
|
|
|
|
|
|
|
Less |
Prior period
items |
3.000 |
0.177 |
0.318 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
104.259 |
70.478 |
124.052 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
51.516 |
19.342 |
47.058 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
52.743 |
51.136 |
76.994 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export |
331.638 |
138.717 |
332.487 |
|
|
TOTAL EARNINGS |
331.638 |
138.717 |
332.487 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
12.229 |
0.000 |
|
|
|
Consumables Stores |
312.639 |
1.530 |
0.000 |
|
|
|
Capital Goods |
74.818 |
0.861 |
32.768 |
|
|
TOTAL IMPORTS |
387.457 |
14.620 |
32.768 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
25.09. |
24.33 |
37.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
2.35
|
3.32 |
3.20 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.84
|
4.62 |
5.17 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.66
|
4.43 |
11.52 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19
|
0.14 |
0.28 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.47
|
2.38 |
1.53 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.43
|
1.63 |
1.73 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS:
(Rs.
In Millions)
|
Particulars
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry
Creditors |
|
|
|
|
- Creditors due small
micro enterprises |
0.000 |
0.000 |
|
|
- Creditors due
others |
696.867 |
472.921 |
|
|
Total |
696.867 |
472.921 |
303.238 |
COMPANY
BACKGROUND:
The company is
engaged in the business of Manufacturing and
The Plant is
licensed with API Grade 2B from American Petroleum Institute for manufacture of
heavy walled structural pipes, IS 3589 for water pipes, CCOE from Controller of
Explosives, Nagpur, India and many more. Further, the manufacturing facilities are
approved by practically all leading national and international third party
inspection agencies like EIL, Bechtel, BVI, SGS, CEIL, RITEL, LRIS and many
more.
PERFORMANCE:
The company recorded an impressive performance for the year ended March
31, 2011. It scaled new heights in terms of sales and profits. Net sales at
Rs.2150.000 Millions compare to Rs.1560.000 Millions for the previous year. Net
Profit was Rs.52.900 Millions as against Rs.51.100 Millions in the previous
year.
NOTE:
The registered office has been shifted from “Usha Kamal 574, Chembur
Naka, Mumbai – 400077,
CONTINGENT
LIABILITY:
(Rs.
In Millions)
|
Particulars
|
31.03.2011 |
31.03.2010 |
|
a) Unutilised Letters of Credit with
Bankers
- Domestic
- Foreign |
78.239 0.000 |
54.518 0.000 |
|
b) Bank Guarantee |
145.364 |
299.227 |
|
c) Corporate Guarantee |
0.000 |
0.000 |
|
d) Estimated amounts of contract remaining
to be executed on Capital Account and not provided for |
0.000 |
48.954 |
|
e) Central Excise Liability (excluding
Penalties) that may arise. The authorities have issued show cause notice for wrong
availment of CENVAT credit. Based on various judicial decisions and the
interpretations of relevant provisions, the management is of the opinion that
the demand is likely to be either deleted or substantially reduced and
accordingly no provision has been made. |
141.630 |
0.000 |
FORM 8:
|
Corporate identity number of the company |
U29110MH1996PLC099745 |
|
Name of the company |
PRATIBHA PIPES AND STRUCTURAL LIMITED |
|
Address of the registered office or of the principal place of business in |
101, Usha Kamal, 574, Chembur Naka, Chembur, Mumbai – 400071, E-mail : mayur.b@pratibhagroup.com |
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
10246210 |
|
Type of charge |
Immovable property Book debts Movable property (not being pledge) Others (Stock of Raw Material, SIP, Finished Goods , Plant , Machinery
etc |
|
Particular of charge holder |
Axis Bank Limited, Axis House, Bombay Dyeing Mills Compound, P B Marg,
Worli, Mumbai – 400025, Maharashtra, India E-mail : suyashri@vsnl.com |
|
Nature of instrument creating charge |
No Instrument. Memorandum of Entry (MOE) Equitable Mortgage by Deposit
of Title Deeds deposited on 06.09.2011 |
|
Date of instrument Creating the charge |
06.09.2011 |
|
Amount secured by the charge |
Rs.313.900 Millions |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
Rate of interest As per Sanction Letter no. AXISB/CO/MCII/NS/0-0224/10-11
Dated 05.08.2010, Letter no. AXISBHK/CR/10-11/1617 Dated.
10.08.2010 and Letter no.AXISB/CO/MCII/NS/0-0280/10-11
Dated. 30.08.2010 or As stipulated by Bank Terms of repayment As per Sanction Letter no.AXISB/CO/MCII/NS/0-0224/10-11
Dated. 05.08.2010, Letter no.AXISBHK/CR/10-11/1617 Dated. 10.08.2010 and Letter no.AXISB/CO/MCII/NS/0-0280/10-11 Dated.
30.08.2010 or As stipulated by Bank from time to time. Margin As per Sanction Letter no.AXISB/CO/MCII/NS/0-0224/10-11
Dated. 05.08.2010, Letter no.AXISBHK/CR/10-11/1617 Dated. 10.08.2010 and Letter no.AXISB/CO/MCII/NS/0-0280/10-11
Dated. 30.08.2010 or As stipulated by Bank. Extent and operation of the charge Credit facilities agg. to Rs.319.000
Millions granted by the Bank further secured by way of EM by Deposit of Title
Deeds relating to immovable property
of the Company viz. Piece or parcel of Land bearing Gat no.320 Hissa no. Part
adm. 1-46-0 HRP, Hissa no. part adm. 1-47-3 HRP and Gat no.502, Hissa no. 2/3
Part adm. 0-03-5 HRP lying and situated in Village limits of Koudhale,
District Thane, des. in 1st and 2nd Sch. to MOE together with present and
future Bldg., Structures, Plant and Machinery thereon by way of Excl. 1st
Charge. |
|
Short particulars of the property or asset(s) charged (including
complete address and location of the property) |
2nd Pari Passu charge on all P and F Stocks of RM, SIP, FG and other
Current Assets lying at Company. premises or elsewhere or in transit. 2nd Pari passu charge on all P and F B/Ds., outstanding money
receivables, claims, etc. due and owing to the Company in the course of its
business. Exclusive Charge on P and F moveable Fixed Assets financed by Axis
Bank viz. P and M, spares, tools etc. lying at Company premises at Plot
no.424, Village Kondla, Wada, Thane or elsewhere or in transit. Equitable Mortgage by Deposit of Title
Deeds relating to immovable property of the Company viz. Piece or parcel of
Land lying and situated in Village limits of Koudhale, District Thane by way
of Excl. 1st Charge. |
|
Particulars of the present modification |
Credit facilities agg. to Rs.319.000 Millions granted by the Bank
further secured by way of EM by Deposit of Title Deeds relating to immovable property of the Company viz.
Piece or parcel of Land bearing Gat no.320 Hissa no. Part adm. 1-46-0 HRP,
Hissa no. part adm. 1-47-3 HRP and Gat no.502, Hissa no. 2/3 Part adm. 0-03-5
HRP lying and situated in Village limits of Koudhale, District Thane, des. in
1st and 2nd Sch. to MOE together with present and future Bldg., Structures,
Plant and Machinery thereon by way of Excl. 1st Charge. |
FIXED ASSETS:
- Land
- Equipments
- Furniture and
Fixtures
- Vehicles
- Computer
Software
- Plant and
Machinery
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.52.72 |
|
|
1 |
Rs.82.71 |
|
Euro |
1 |
Rs.68.90 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
46 |
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.