MIRA
INFORM REPORT
|
Report Date : |
04.01.2011 |
IDENTIFICATION DETAILS
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Name : |
NAVAYUGA ENGINEERING COMPANY LIMITED |
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Formerly Known
As : |
NAVAYUGA ENGINEERING COMPANY PRIVATE LIMITED |
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Registered Office : |
D No. # 48-9-17, Dwaraka Nagar, Vishakhapatnam-530016, Andhra Pradesh |
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Country : |
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Financials (as on) : |
31.03.2009 |
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Date of Incorporation : |
06.11.1986 |
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Com. Reg. No.: |
006925 |
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CIN No.: [Company
Identification No.] |
U45203AP1986PLC006925 |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business : |
Construction Contractors. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (51) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 30000000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and a reputed company having
satisfactory track. Trade relations are reported as fair. Business is active.
Payments are reported to be regular and as per commitments. The company can be considered for normal 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
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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 |
INFORMATION PARTED BY
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Name : |
Mr. Ramkrishna |
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Designation : |
Senior Manager Finance |
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Tel. No.: |
91-40-4455778 |
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Date : |
04.01.2011 |
LOCATIONS
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Registered Office : |
D No. # 48-9-17, Dwaraka Nagar, Vishakhapatnam-530016, |
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Tel. No.: |
91-891-2754602/ 2747335/ 2748084 |
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Fax No.: |
91-891-2747362/ 2748085 |
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E-Mail : |
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Website : |
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Area : |
Owned |
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Corporate Office : |
# 1259, |
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Tel. No.: |
91-40-23557196/ 99 |
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Fax No.: |
91-40-23557190/ 23557176 |
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E-Mail : |
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Regional Offices : |
Located at:- C-17, First floor, Community Centre, Opposite IIT Main Gate, Safdarjung Development Area, Tel.: +91 - 11 - 4135 4590 Fax: +91 - 11 - 4135 4589 E-mail: navayuga.delhi@gmail.com Chennai Ground Floor-B, Tangy Apartments, 34, Chennai - 600 008, Tel.:+91 - 44 - 2827 0384, 4265 6361/62 Fax: +91 - 44 - 2827 0616 E-mail: necchennai@yahoo.co.in Mumbai D-4 / 603, Vedant Complex, Vartak Nagar, Thane (W) - 400 606 Tel:+91 - 22 - 2585 3756 E-mail: necmumbai@navayuga.com Kolkata DN - 24, 5th Floor, Kolkata – 700 091 Tel : +91 - 33 – 4004 0989 Fax : +91 - 33 – 4004 0965 Email: neckolkata@navayuga.com # 39, I.T.I. Layout, RMV 2nd stage, New Tel:+91 - 80 - 2360 3023 Email: necbro@sify.com Plot No.80, Pataliputra Colony, Near Tel:+91 - 612 - 325 1614 Email: necpatna@rediffmail.com Navayuga Engineering Company WLL PO Box No. 32550, Office No. 12, Nr. Decoration R/A, Tel : +974 - 450 7374 Fax: +974 - 458 1843 Email: necl_qatar@navayuga.com Nasir Ahmed Khalifa Al Suwaidi Building, Tel : +971 2631 8499 Fax : + 971 2631 8477 Email: gm@necltd.ae |
DIRECTORS
As on 31.08.2009
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Name : |
Mr. Chinta Visweswara Rao |
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Designation : |
Chairman and Managing Director |
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Address : |
Plot No. 550/A, Road No. 92, Phase – III, Jubilee Hills,
Hyderabad-500034, |
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Date of Birth/Age : |
09.06.1947 |
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Date of Appointment : |
06.11.1986 |
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Name : |
Mr. Chinta Sridhar |
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Designation : |
Joint Managing Director |
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Address : |
D No. 9-29- 24/9, Balaji Nagar, Siripuram,Vishakhapatnam-530003, |
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Date of Birth/Age : |
01.08.1969 |
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Date of Appointment : |
28.12.1995 |
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Name : |
Mr. Satish Banarsilal Puri |
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Designation : |
Executive Director |
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Address : |
Flat No. 1, Shanti Kuteer, Plot No. 35, Krishna Nagar,
Hyderabad-500045, |
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Date of Birth/Age : |
18.01.1948 |
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Date of Appointment : |
27.11.1995 |
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Name : |
Mr. Chinta Sasidhar |
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Designation : |
Director |
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Address : |
Plot No. 550/A, Road No. 92, Phase – III, Jubilee Hills,
Hyderabad-500034, |
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Date of Birth/Age : |
29.01.1972 |
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Date of Appointment : |
27.11.1995 |
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Name : |
Mr. Sajan Singh Mangat |
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Designation : |
Whole Time Director |
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Address : |
D-1. Sea Surf Apartments, |
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Date of Birth/Age : |
13.06.1939 |
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Date of Appointment : |
29.03.2002 |
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Name : |
Mr. Nanjangud Srikantiah Nagendra Babu |
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Designation : |
Director |
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Address : |
16, |
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Date of Birth/Age : |
19.11.1958 |
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Din or Income- Tax Pan: |
02024594 |
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Name : |
Mr. Venkateswara Rao Rayala |
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Designation : |
Director |
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Address : |
D No. 9-15-7, CBM Compound, Visakhapatnam-530003, |
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Date of Birth/Age : |
10.04.1943 |
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Date of Appointment : |
15.10.2004 |
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Din or Income- Tax Pan: |
00157063 |
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Name : |
Mr. Girish Baliga Pankaj |
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Designation : |
Director |
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Address : |
Villa No. 123, Phase-1, Adarsh Palm, Meadows, Airport, Whitefield
Road, Bangalore-560066, |
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Date of Birth/Age : |
19.02.1974 |
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Date of Appointment : |
26.10.2006 |
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Name : |
Mr. Murali Krishna Sarparapl |
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Designation : |
Director |
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Address : |
Plot No. 2, Sector -12, MVP Colony, Visakhapatnam-530017, Andhra
Pradesh, India |
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Date of Birth/Age : |
23.06.1968 |
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Date of Appointment : |
15.10.2004 |
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Name : |
Mr. Viswandh Ramesh Kumar |
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Designation : |
Whole-Time Director |
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Address : |
403, Redcreek Apatment, West Block, Harbour Park Road,
Visakhapatnam-530003, |
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Date of Birth/Age : |
01.08.1960 |
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Date of Appointment : |
05.01.2009 |
KEY EXECUTIVES
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Name : |
Mr. Yugandhar Koparthi |
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Designation : |
Company Secretary |
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Address : |
Plot No. 31, Aruna Society, Jayanagar, Hyderabad-500072, |
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Date of Birth/Age : |
19.03.1972 |
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Date of Appointment : |
01.02.2006 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.08.2009
|
Names of Shareholders |
|
No. of Shares |
|
Chinta Visweswara Rao |
|
1295450 |
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Chinta Sasidhar |
|
8658049 |
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Chinta Sridhar |
|
8658049 |
|
Satish Banarsilal Puri |
|
735000 |
As on 31.08.2009
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Equity Share Breakup |
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Percentage of Holding |
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Category |
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Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
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11.77 |
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Bodies
corporate |
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13.11 |
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Directors
or relatives of directors |
|
71.83 |
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Other
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|
3.29 |
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Total |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Construction Contractors. |
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Terms : |
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Purchasing Terms
: |
Cash, Credit |
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Selling Terms : |
Cash, Credit |
GENERAL INFORMATION
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Customers : |
Individual |
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No. of Employees : |
1000 (In office) (Approxiamtely) |
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Bankers : |
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Facilities : |
Note:
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
C Venkat Krishna and Company Chartered Accountant |
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Address : |
909A, |
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Fax No.: |
91-40-23201035/ 23201598 |
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E-Mail : |
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Subsidiaries : |
(U45200AP2006PTC049585)
(U45200AP2006PTC049718)
(U70102AP2007PTC053588)
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Associates: |
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Joint Ventures: |
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CAPITAL STRUCTURE
As on 31.08.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
40500000 |
Equity Shares |
Rs.10/- each |
Rs.405.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
40048077 |
Equity Shares |
Rs.10/- each |
Rs.400.480
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
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|
31.03.2010 |
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Sales Turnover (Approximately) |
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|
28100.000 |
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Expected Sales (2010-2011) : Rs. 30000.000 millions
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
|
SHAREHOLDERS FUNDS |
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|
|
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1] Share Capital |
400.480 |
400.480 |
400.481 |
|
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
8405.630 |
6150.684 |
4448.069 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
8806.110 |
6551.164 |
4848.550 |
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LOAN FUNDS |
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1] Secured Loans |
10383.873 |
4966.026 |
1827.806 |
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2] Unsecured Loans |
3605.302 |
3626.474 |
2099.928 |
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TOTAL BORROWING |
13989.175 |
8592.500 |
3927.734 |
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DEFERRED TAX LIABILITIES |
522.896 |
219.356 |
123.761 |
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TOTAL |
23318.181 |
15363.020 |
8900.045 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
9873.305 |
5639.307 |
2883.566 |
|
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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|
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INVESTMENT |
4142.625 |
3252.164 |
2412.569 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
3399.762
|
2504.425 |
482.967
|
|
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Sundry Debtors |
7272.005
|
3106.558 |
2220.670
|
|
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Cash & Bank Balances |
719.933
|
720.051 |
825.628
|
|
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Other Current Assets |
3099.196
|
3179.413 |
1467.752
|
|
|
Loans & Advances |
1723.328
|
2466.310 |
1308.238
|
|
Total
Current Assets |
16214.224
|
11976.757 |
6305.255 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
2678.518
|
3084.515 |
|
|
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Other Current Liabilities |
3295.844
|
1604.493 |
2073.340
|
|
|
Provisions |
937.611
|
816.200 |
628.005
|
|
Total
Current Liabilities |
6911.973
|
5505.208 |
2701.345
|
|
|
Net Current Assets |
9302.251
|
6471.549 |
3603.910
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
23318.181 |
15363.020 |
8900.045 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
26150.012 |
18500.453 |
11083.660 |
|
|
|
Other Income |
321.972 |
430.017 |
147.964 |
|
|
|
TOTAL (A) |
26471.984 |
18930.470 |
11231.624 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Material consumed |
7593.992 |
5653.175 |
3988.017 |
|
|
|
Works cost |
10392.616 |
8445.187 |
4467.335 |
|
|
|
Administrative overheads |
1468.212 |
1075.691 |
762.287 |
|
|
|
Personnel overheads |
509.934 |
288.089 |
199.266 |
|
|
|
Increase or decreased in work in progress/ unaccrued contract revenue |
1366.366 |
25.938 |
0.000 |
|
|
|
TOTAL (B) |
21331.120 |
15488.080 |
9416.905 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
5140.864 |
3442.390 |
1814.719 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1184.218 |
595.392 |
283.245 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
3956.646 |
2846.998 |
1531.474 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
504.417 |
235.015 |
125.447 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
3452.229 |
2611.983 |
1426.027 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1241.151 |
911.795 |
477.940 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
2211.078 |
1700.188 |
948.087 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
3789.823 |
2289.635 |
1705.498 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
250.000 |
200.000 |
200.000 |
|
|
BALANCE CARRIED
TO THE B/S |
5750.901 |
3789.823 |
2453.585 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Stores & Spares |
22.574 |
43.390 |
9.706 |
|
|
|
Capital Goods |
4134.676 |
1782.625 |
718.281 |
|
|
TOTAL IMPORTS |
4157.250 |
1826.015 |
727.987 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
56.21 |
42.45 |
23.67 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
PAT / Total Income |
(%) |
8.35
|
8.98 |
8.44
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
13.20
|
14.11 |
12.87
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
13.23
|
14.83 |
15.52
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.39
|
0.40 |
0.29
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.37
|
2.15 |
1.38
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.35
|
2.18 |
2.33
|
LOCAL AGENCY FURTHER INFORMATION
YEAR IN RETROSPECT
The Gross Contract Revenue for the financial year is Rs.26150.000
Millions against Rs.18500.500 Millions for the previous financial year,
registering an increase of 41.35%. The Profit before Tax (after Interest and
Depreciation charges) of Rs.3452.200 Millions and the Profit after Tax of
Rs.2211.100 Millions for the financial year as against Rs.2612.000 Millions and
Rs. 1700.200 Millions respectively for the previous financial year, increased
by 32.17 % and 3005 % respectively.
PROSPECTS
The company is expecting a formidable order book of about Rs.250000.000
Millions by the end of this year, comprising of a portfolio of contracts, EPCs
and BOTs. It is poised to capture a predominant space in the Indian
infrastructure sky in the coming years as a company delivering timely and
quality services across a broad spectrum - Irrigation, Ports, Roads and
Bridges, Piling / Diaphram and other Marine Structures.
The company like many infrastructure companies takes pride as an Indian
Corporate citizen in providing the much-needed fillip to their slowing economy
by smart performance.
Form : 8
Bankers Charges
Report as per Registry
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U45203AP1986PLC006925 |
|
Name of the
company |
NAVAYUGA
ENGINEERING COMPANY LIMITED |
|
Address of the
registered office or of the principal place of business in |
D No. # 48-9-17, Dwaraka Nagar, Vishakhapatnam-530016, |
|
Type of charge |
Book Debts Movable Property
(not being pledge) Others |
|
Particular of
charge holder |
Yes Bank Limited,
9th floor, Nehru Centre, Discovery of India, dr. Annie Besant Road, Worli,
Mumbai-400018, Maharashtra, India. |
|
Email |
|
|
Nature of
description of the instrument creating or modifying the charge |
Deed of
Hypothecation |
|
Date of
instrument Creating the charge |
15.06.2010 |
|
Amount secured by
the charge |
Rs.500.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest TL-II-4% below
YES Bank PLR presently YBL PLR applicable is 16.5% p.a. LOU for BC-To be
decided at the time disbursement LC(Usance)-To be
decided at the time disbursement Terms of
Repayment TL-II-
Semi-annual installments after a moratorium of one year LOU for
BC-Validity-36 months LC(Usance)-Validity-6
months, Usance-6 months Margin Debt equity ratio
of 90:10 to be maintained for the proposed acquisition of dredger Extent and
Operation of the charge Exclusive charge
on the Dredger and its Receivables financed by YBL more particularly
described in schedule to Deed of Hypothecation |
|
Short particulars
of the property charged |
I)
All
the book debts and receivables of the borrower (arising from the dredger
financed by YBL) including outstandings monies receivables and claims. II)
Exclusive
charge on the dredger financed out of YBL facilities brought into to the
order or disposition of the borrower or in the course of transit or on high
seas or on order or on delivery |
Fixed Assets:
·
Land
·
Plant And Machinery
·
Equipments
·
Transit Mixer
·
Cycle
·
Scooter
·
Tata Truck
·
Printing Rick
·
Computer
·
Temporary Sheets
Contingent
Liabilities:
|
Particular |
As on 31.03.2009
(Rs. in Millions) |
As on 31.03.2008
(Rs. in Millions) |
|
Bank guarantees |
10206.000 |
8113.700 |
|
Disputed income tax demands |
49.700 |
0.000 |
|
Disputed vat, sales tax appellate tribunal, |
14.300 |
0.000 |
|
Disputed UP trade tax, asst. commission, UP trade tax, |
27.800 |
0.000 |
|
Guarantees on behalf of subsidiaries |
3916.300 |
3916.300 |
|
Total |
14214.100 |
12030.000 |
AS PER WEBSITE
Profile:
Subject was
Incorporated in the year 1986, with it's main focus on the construction of Pile
foundation, Diaphragm wall and Marine structures like Berths, Wharves and
Jetties.
Over the years, Subject has grown multifold adding expertise
and capabilities in the areas of special foundations, large diameter bored
piles and diaphragm walls, ground improvement techniques, industrial
structures, roads and bridges etc. NECL's excellent track record in the
industry and efforts enabled it to take up multi-disciplinary Turnkey projects
on EPC basis and infrastructure facilities on Build, Operate and Transfer
(B.O.T) and Annuity process basis.
Subject is one of the few Indian construction companies
having the specialised equipments and expertise for the execution of bored cast
insitu piles of upto 3000mm in diameter and 75 metres in depth. NECL has
executed over 1,500,000 RM of bored piles and 300,000 Sqm of RCC diaphragm
walls ( Straight, angular, L and T shaped ) since inception.
Subject has constructed over 9000 RM of harbour structures
covering most major ports in
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. 44.84 |
|
|
1 |
Rs. 69.32 |
|
Euro |
1 |
Rs. 59.79 |
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 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
51 |
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.