MIRA
INFORM REPORT
|
Report Date : |
29.12.2011 |
IDENTIFICATION DETAILS
|
Name : |
RAJPUTANA STAINLESS LIMITED (w.e.f. 12.07.2007) |
|
|
|
|
Formerly Known
As : |
RAJPUTANA STEEL CASTINGS LIMITED (w.e.f. 18.06.2007) RAJPUTANA STEEL CASTINGS PRIVATE LIMITED |
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|
|
Registered
Office : |
213, Madhwas, |
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|
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Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
02.04.1991 |
|
|
|
|
Com. Reg. No.: |
04-015331 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 159.250 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27109GJ1991PLC015331 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Stainless Steel, Mild Steel and Alloy Steel Products. |
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|
|
|
No. of Employees
: |
250 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1200000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
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|
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track records.
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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office/ Factory : |
213, Madhwas, |
|
Tel. No.: |
91-2676-326944 |
|
Mobile No.: |
91-932226590 (Mr. Jayesh N Pithva) |
|
Fax No.: |
91-2676-236327 |
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E-Mail : |
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|
Web Site: |
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|
Area: |
10000 sq. ft |
|
Location: |
Owned |
|
|
|
|
Marketing
Office: |
17/19,
Kanti Bhuvan, 1st Parsiwada lane Near |
|
Tel. No.: |
91-22-66595615 |
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|
|
|
Branch Office : |
202, Martand Complex, Near Apsara Cinema Pratap Nagar Road
Vadodara-390004, Gujarat, India |
|
Tel. No.: |
91-265-3014817 |
|
Fax No.: |
91-265-2422321 |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Shankarlal Deepchand Mehta |
|
Designation : |
Chairman cum Managing Director |
|
Address : |
802, Krishna Towers, R. V. Desai Road, Pratapnagar, Vadodara-390004,
Gujarat, India |
|
Date of Birth/Age : |
03.07.1971 |
|
Date of Appointment : |
25.02.2000 |
|
DIN No.: |
02656381 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U27109GJ1991PLC015331 |
RAJPUTANA
STAINLESS LIMITED |
Managing
director |
24-11-08 |
25-02-00 |
Active |
NO |
|
2 |
U74900GJ2010PTC060786 |
RAJPUTANA
ADVISORY SERVICES PRIVATE LIMITED |
Director |
18-05-10 |
18-05-10 |
Active |
NO |
|
Name : |
Mr. Babulal Deepchandji Mehta |
|
Designation : |
Whole-Time Director |
|
Address : |
138-A, Chandanwadi, C.P Tank, Mumbai – 400 004, Maharashtra, India |
|
Date of Birth/Age : |
08.12.1958 |
|
Date of Appointment : |
01.11.1999 |
|
DIN No.: |
02656396 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U27109GJ1991PLC015331 |
RAJPUTANA
STAINLESS LIMITED |
Whole-time
director |
24-11-08 |
01-11-99 |
Active |
NO |
|
2 |
U74900GJ2010PTC060786 |
RAJPUTANA
ADVISORY SERVICES PRIVATE LIMITED |
Director |
18-05-10 |
18-05-10 |
Active |
NO |
|
Name : |
Mr. Jayesh Natvarlal Pithva |
|
Designation : |
Director |
|
Address : |
103, |
|
Date of Birth/Age : |
09.11.1967 |
|
Date of Appointment : |
07.05.2007 |
|
DIN No.: |
01531196 |
|
|
|
|
Name : |
Mr. Jashvant Chinubhai Patel |
|
Designation : |
Director |
|
Address : |
A-3, Akshar Dham, Bunglows, Part II, Near Rangsagar Society, Bopal,
Ahmadabad-380058, Gujarat, India |
|
Date of Birth/Age : |
07.03.1959 |
|
Date of Appointment : |
24.02.2010 |
|
DIN No.: |
02937888 |
|
|
|
|
Name : |
Mr. Dilip Kumar Vyas |
|
Designation : |
Director |
|
Address : |
A 303, Akhilesh Flats Behind Rameshwar Mandir, Grow Morg Flats
Subhanpura, Vadodara – 390 023, |
|
Date of Birth/Age : |
17.05.1954 |
|
Date of Appointment : |
24.02.2010 |
|
DIN No.: |
03111604 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U27109GJ1991PLC015331 |
RAJPUTANA
STAINLESS LIMITED |
Director |
24-03-10 |
24-02-10 |
Active |
NO |
|
2 |
U27109GJ2006PLC048737 |
MODERN
TUBE INDUSTRIES LIMITED |
Director |
20-09-10 |
20-09-10 |
Active |
NO |
|
Name : |
Mr. Ramamurthi Sundaram |
|
Designation : |
Director |
|
Address : |
101-B, Vasanth Vihar, Dr. Gidwani Marg, Chembur, Mumbai – 400074,
Maharashtra, India |
|
Date of Birth/Age : |
08.11.1951 |
|
Date of Appointment : |
24.02.2010 |
|
DIN No.: |
00135602 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
L65990MH1978PLC020080 |
MARATHON
NEXTGEN REALTY LIMITED |
Whole-time
director |
01-05-11 |
28-01-05 |
Active |
NO |
|
2 |
U15311MH1972PTC015969 |
CHHAGANLAL
KHIMJI AND COMPANY PRIVATE LIMITED |
Director |
30-09-06 |
29-03-06 |
Active |
NO |
|
3 |
L21010MH1960PLC011764 |
CITADEL
REALTY AND DEVELOPERS LIMITED |
Director |
18-09-07 |
29-03-07 |
Active |
NO |
|
4 |
U27109GJ1991PLC015331 |
RAJPUTANA
STAINLESS LIMITED |
Director |
24-03-10 |
24-02-10 |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Babu Lal Deep Chand Mehta |
720013 |
|
Bhagu Ben Babu Lal Mehta |
478166 |
|
Hetal Jayesh Pithva |
292000 |
|
Rohini Ben R. Mehta |
100000 |
|
Shankar Lal Deep Chand Mehta |
9441213 |
|
Tejaram K Vishnoi |
12962 |
|
Babu Lal Deep Chand Mehta (HUF) |
212800 |
|
Kamala M. Mehta |
145000 |
|
Mangi Lal V. Sanghavi |
8750 |
|
Moti Lal D. Mehta |
396412 |
|
Nirmala Ben Natvar Lal Pithva |
275500 |
|
Ramesh Bhai D. Mehta |
358062 |
|
Vikram M. Mehta |
152000 |
|
Natvar Lal V. Pithva |
272000 |
|
Moti Lal Deep Chand Mehta (HUF) |
154000 |
|
Jayantilal M. Sanghavi |
87500 |
|
Ramesh Bhai D. Mehta (HUF) |
150665 |
|
Jayesh Pithva |
215500 |
|
Pinky Jain |
6875 |
|
Babu Lal N. Bisnoi - Mumbai |
84709 |
|
Girish Babu Lal Mehta - Mumbai |
48500 |
|
Kalpesh Babu Lal Mehta - Mumbai |
107750 |
|
Sera Organics Private Limited, |
2123375 |
|
Mahendra M. Mehta |
81200 |
|
Total
|
15924952 |
AS ON 30.09.2011
|
Equity Shares
Break Up |
Percentage |
|
Bodies corporate |
13.33 |
|
Directors or relatives of Directors |
86.00 |
|
Other top fifty shareholders |
0.67 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Quality Stainless Steel, Mild Steel and Alloy Steel
Products. |
|
|
|
|
Products : |
|
PRODUCTION STATUS (AS ON 31.03.2010)
|
Particulars |
Installed
Capacity |
|
S.S. Billets / A.S. Billets / M.S. Billets /
S.S. Rolled Rounds /A.S. Rolled Rounds / M.S. Rolled Rounds etc. |
40000 Mt On Triple Shift Basis |
|
|
|
|
Particulars |
Actual
Production |
|
All Kinds of Stainless Steel Products |
24381.448 |
GENERAL INFORMATION
|
No. of Employees : |
250 (Approximately) |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Bankers : |
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||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Facilities : |
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|
|
|
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Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
R.K. Raman and Company Chartered Accountants |
|
Address : |
79, Nageshwar
Society, Opposite Vrundavan Township, Near Sangam Char Rasta, Harni Road,
Vadodara, Gujarat, India |
|
Tel. No.: |
91-265-2466885 |
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E-Mail : |
|
|
Pan No.: |
AAEFR6313H |
|
|
|
|
Related Party : |
·
Yash steel Centre ·
Surya Steel Centre |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000000 |
Equity Shares |
Rs.10/- each |
Rs. 300.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15924952 |
Equity Shares |
Rs.10/- each |
Rs. 159.250
Millions |
|
|
|
|
|
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 |
159.250 |
156.812 |
22.413 |
|
|
2] Share Application Money |
5.728 |
0.000 |
0.001 |
|
|
3] Reserves & Surplus |
137.013 |
62.172 |
70.843 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
301.991 |
218.984 |
93.257 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
647.622 |
305.196 |
146.687 |
|
|
2] Unsecured Loans |
3.062 |
3.739 |
78.101 |
|
|
TOTAL BORROWING |
650.684 |
308.935 |
224.788 |
|
|
DEFERRED TAX LIABILITIES |
27.180 |
12.450 |
11.179 |
|
|
|
|
|
|
|
|
TOTAL |
979.855 |
540.369 |
329.224 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
267.230 |
200.221 |
51.863 |
|
|
Capital work-in-progress |
18.699 |
0.000 |
69.819 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
476.145
|
250.391
|
172.337 |
|
|
Sundry Debtors |
404.438
|
238.293
|
182.926 |
|
|
Cash & Bank Balances |
3.503
|
1.725
|
2.552 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
182.979
|
94.507
|
64.732 |
|
Total
Current Assets |
1067.065
|
584.916 |
422.547 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
310.414
|
224.700
|
195.281 |
|
|
Other Current Liabilities |
19.101
|
4.962
|
5.007 |
|
|
Provisions |
43.624
|
15.106
|
14.717 |
|
Total
Current Liabilities |
373.139
|
244.768 |
215.005 |
|
|
Net Current Assets |
693.926
|
340.148
|
207.542 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
979.855 |
540.369 |
329.224 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2636.092 |
1076.148 |
786.111 |
|
|
|
Other Income |
15.203 |
21.452 |
1.970 |
|
|
|
TOTAL (A) |
2651.295 |
1097.600 |
788.081 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Material Consumed |
2041.486 |
788.726 |
593.635 |
|
|
|
Manufacturing Administrative & Other Expenses |
285.632 |
157.766 |
82.962 |
|
|
|
Excise & Custom Duty |
222.527 |
115.860 |
112.594 |
|
|
|
Increase (Decrease) in Stocks |
(68.723) |
(30.521) |
(31.366) |
|
|
|
TOTAL (B) |
2480.922 |
1031.831 |
757.825 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
170.373 |
65.769 |
30.256 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
41.147 |
21.605 |
6.716 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
129.226 |
44.164 |
23.540 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
23.713 |
24.155 |
4.656 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX
(E-F) (G) |
105.513 |
20.009 |
18.884 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
37.983 |
6.247 |
7.761 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
67.530 |
13.762 |
11.123 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
20.235 |
23.650 |
12.527 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
87.765 |
37.412 |
23.650 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
4.24 |
0.88 |
4.96 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
2.55
|
1.25 |
1.41 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.00
|
1.86 |
2.40 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.91
|
2.55 |
3.98 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.35
|
0.09 |
0.20 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.48
|
2.53
|
4.72 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.86
|
2.39
|
1.97 |
LOCAL AGENCY FURTHER INFORMATION
CONTINGENT LIABILITIES
(Rs. In Millions)
|
Particulars |
31.03.2010 |
31.03.2009 |
|
Bank Guarantee outstanding
against supply of order which are secured by FD with PNB |
5.000 |
5.000 |
|
Inland Letter of Credit |
Already provided
in books of Accounts |
|
|
Income Tax (Appeals pending before various appellate authorities ) |
5.350 |
7.039 |
|
Indirect Tax matter
related to excise (Appeals pending before various appellate authorities) |
0.900 |
0.900 |
FORM 8
|
Corporate
identity number of the company |
U27109GJ1991PLC015331 |
|
Name of the
company |
RAJPUTANA STAINLESS LIMITED |
|
Address of the registered
office or of the principal place of
business in |
213, Madhwas, |
|
This form is for |
Creation of
charge |
|
Type of charge |
Book debts Movable property
(not being pledge) Others |
|
Particular of
charge holder |
Punjab National
Bank, Surat Main Branch, 1st Floor, Meghani Tower, Station Road, Surat–395
003, Gujarat, India |
|
Nature of
instrument creating charge |
Joint deed of
hypothecation |
|
Date of
instrument Creating the charge |
31.05.2011 |
|
Amount secured by
the charge |
Rs. 675.000
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest As detailed in
First Schedule of the Working Capital
Consortium Agreement attached herewith Terms of repayment On demand/due
date Margin As detailed in First
Schedule of the Working Capital
Consortium Agreement attached herewith Extent and operation of the charge Charge will
operate on the assets as described in the attached hypothecation
agreement for repayments of the credit
facility Other By executing
Joint deed of Hypothecation joint
charge has been created in favour of Punjab National Bank and IDBI Bank
Limited for the credit facilities aggregating to Rs. 675.000 Millions |
|
Short particulars
of the property charged (Including location of the property) |
Whole current
assets of the company i.e. stock of raw materials, stock in process, semi finished and
finished goods, stores and spares not relating to plant and machinery, Bills
receivables and Book Debts and all other movables including movable plant and
machinery as described in the schedule
of the Joint Deed of Hypothecation |
FIXED ASSETS:
·
Free
·
·
Plant and Machinery
·
Electric Installation
·
Furniture and Fixtures
·
Motor Vehicle
·
Laboratory Equipments
·
Office Equipments
·
Computers
·
Hydraulic
·
Weighing Scale
·
Wind Farm at Location M-571
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] 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. 53.21 |
|
|
1 |
Rs. 83.31 |
|
Euro |
1 |
Rs. 69.51 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
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.