MIRA
INFORM REPORT
|
Report Date : |
01.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
COASTAL PROJECTS LIMITED |
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Formerly Known
As : |
WEST COST CARRIERS PRIVATE LIMITED COASTAL PROJECTS PRIVATE LIMITED |
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Registered
Office : |
Plot No. 237, 2nd Floor, Bapuji Nagar, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
01.05.1995 |
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Com. Reg. No.: |
15-3982 |
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Capital
Investment / Paid-up Capital : |
Rs.188.108
Millions |
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CIN No.: [Company Identification
No.] |
U63011OR1995PTC003982 |
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Legal Form : |
A closely held Public Limited Liability Company. |
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Line of Business
: |
Civil Contractor. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
A (64) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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 |
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Maximum Credit Limit : |
USD 22000000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having fine track. Financial position
of the company appears to be sound. Trade relations are reported as fair.
Business is active. Payments are reported to be regular and as per
commitments. The company can be considered good 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
|
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 : |
Plot No. 237, 2nd Floor, Bapuji Nagar, |
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Tel. No.: |
91-674-2530720/6942656 |
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Fax No.: |
91-674-2533856/2597956 |
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E-Mail : |
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Website : |
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Corporate Office : |
# 304-‘O’, Road No. 78, Beside Padmlaya Studio, Film Nagar,
Hyderabad-500033, |
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Tel. No.: |
91-40-23317444 |
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Fax No.: |
91-40-23606086 |
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E-Mail : |
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Regional offices: |
Located at: ·
·
·
Sliguri |
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Overseas Offices : |
Located at: ·
·
·
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DIRECTORS
As on 17.09.2010
|
Name : |
Mr. Surendra Sabbineni |
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Designation : |
Managing Director |
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Address : |
Plot No. 614, Bomikhal, |
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Date of Birth/Age : |
24.08.1961 |
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Date of Appointment : |
01.05.1995 |
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Name : |
Mr. Pappaya Sabbineni |
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Designation : |
Director |
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Address : |
Plot No. 614, Bomikhal, |
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Date of Birth/Age : |
19.11.1934 |
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Date of Appointment : |
01.05.1995 |
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Name : |
Mr. Paritala Vasudeva Rao |
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Designation : |
Director |
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Address : |
Flat No. # 101, Plot No. # 125 and 126, Sailakshmi Nilayam, Kavuri
Hills, Jubilee Hills, Hyderabad-500033, Andhra Pradesh, India |
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Date of Birth/Age : |
17.09.1946 |
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Date of Appointment : |
05.10.2007 |
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Name : |
Mr. Garapathi Harihara Rao |
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Designation : |
Director |
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Address : |
Plot No. 304, Vasantha Villa, Raghuram Street Mogal Rajapuram, Vijayawada,
Krishna District-520010, Andhra Pradesh, India |
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Date of Birth/Age : |
11.07.1963 |
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Date of Appointment : |
31.07.2008 |
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Name : |
Mr. Rajesh Kumar Dugar |
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Designation : |
Alternate Director |
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Address : |
31, Chitrakoot, |
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Date of Birth/Age : |
01.07.1969 |
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Date of Appointment : |
01.11.2008 |
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Name : |
Mr. Abhay Kumar Pandey |
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Designation : |
Nominee Director |
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Address : |
1402, |
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Date of Birth/Age : |
01.12.1971 |
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Date of Appointment : |
11.12.2008 |
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Name : |
Mr. Jimmy Lachmandas Mahtani |
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Designation : |
Additional Director |
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Address : |
14, |
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Date of Birth/Age : |
27.10.1976 |
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Date of Appointment : |
05.01.2010 |
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Name : |
Mr. Mudigonda Veerabhadraiah |
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Designation : |
Independent Director |
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Address : |
PJ-16, Government Quarters, Punjagutta Officers Colony,
Hyderabad-500082, |
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Date of Birth/Age : |
22.03.1950 |
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Date of Appointment : |
24.05.2010 |
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Name : |
Mr. Palaparapu Sambasiva Rao |
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Designation : |
Direcor |
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Address : |
Plot no. 189, Bomikhal, Bhubaneswar-751009, Khurda District, |
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Date of Appointment : |
01.05.1995 |
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Date of Ceasing: |
01.04.2002 |
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Name : |
Mr. Sanjeev Ahuja |
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Designation : |
Director |
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Address : |
B-231, Saraswati Vihar, New Delhi-110034, |
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Date of Birth/Age : |
25.11.1969 |
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Date of Appointment : |
05.10.2007 |
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Name : |
Mr. Jagdish Prasad Suri |
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Designation : |
Nominee Director |
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Address : |
13, 660, Paschim Vihar, New Delhi-110087, |
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Date of Birth/Age : |
18.09.1959 |
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Date of Appointment : |
22.12.2008 |
KEY EXECUTIVES
|
Name : |
Mrs. Varalakshmi Thota |
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Designation : |
Company Secretary |
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Address : |
G-02, |
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Date of Birth/Age : |
10.08.1973 |
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Date of Appointment : |
21.08.2008 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 17.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
|
|
6462322 |
|
|
|
1253107 |
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|
|
41799 |
|
G Hari Hara Rao |
|
455000 |
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2715000 |
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G Bharat Bhushan |
|
430000 |
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G P R M Kumar |
|
455000 |
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P Sambasiva Rao |
|
43802 |
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T Narendra Chowdaryt |
|
500000 |
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Sequoia Capital |
|
1084523 |
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Deutsche Bank Ag |
|
606111 |
|
Multiconsult Trustee Limited |
|
1680652 |
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Asif Oberoi Trustee and Rajesh Misra Trustee |
|
12668 |
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Sequoia Capital |
|
614858 |
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Barings Private Equity Asia IV |
|
2222026 |
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Barings Private Equity Asia IV |
|
44405 |
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|
|
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Total |
|
18810773 |
As on 17.09.2010
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Equity Share Breakup |
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Percentage of Holding |
|
Category |
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Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
16.67 |
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Bodies
corporate |
|
10.45 |
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Directors
or relatives of directors |
|
61.92 |
|
Other
top fifty shareholders |
|
10.96 |
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Total |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Civil Contractor. |
GENERAL INFORMATION
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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 : |
U K Mahapatrea and Company Chartered Accountant |
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Address : |
Plot No. 237, 2nd Floor, Bapuji Nagar, Bhubaneswar-751009, |
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Associates/Subsidiaries : |
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Joint Ventures: |
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CAPITAL STRUCTURE
As on 17.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
25000000 |
Equity Shares |
Rs.10/- each |
Rs.250.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
18810773 |
Equity Shares |
Rs.10/- each |
Rs.188.108
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 |
|
|
|
|
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1] Share Capital |
188.108 |
173.523 |
173.524 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
5545.220 |
3598.804 |
2802.924 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
5733.327 |
3772.327 |
2976.448 |
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LOAN FUNDS |
|
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|
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1] Secured Loans |
8409.250 |
3757.200 |
1376.608 |
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2] Unsecured Loans |
0.000 |
0.000 |
728.031 |
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TOTAL BORROWING |
8409.250 |
3757.200 |
2104.639 |
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DEFERRED TAX LIABILITIES |
52.677 |
55.521 |
18.246 |
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TOTAL |
14195.255 |
7585.048 |
5099.333 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
4960.586 |
2757.453 |
1552.087 |
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Capital work-in-progress |
1217.737 |
719.999 |
372.324 |
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|
|
|
|
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INVESTMENT |
1485.191 |
373.141 |
338.010 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
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Inventories |
771.644
|
1220.060 |
510.782 |
|
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Sundry Debtors |
3296.350
|
1858.436 |
467.560 |
|
|
Cash & Bank Balances |
1107.218
|
652.470 |
1299.448 |
|
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Other Current Assets |
2743.408
|
24.008 |
10.971 |
|
|
Loans & Advances |
2023.212
|
1687.272 |
823.761 |
|
Total
Current Assets |
9941.832
|
5442.246 |
3112.522 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
424.550
|
174.290 |
72.800 |
|
|
Other Current Liabilities |
2348.183
|
1152.482 |
44.271 |
|
|
Provisions |
637.358
|
381.019 |
158.539 |
|
Total
Current Liabilities |
3410.091
|
1707.791 |
275.610 |
|
|
Net Current Assets |
6531.741
|
3734.455 |
2836.912 |
|
|
|
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|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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TOTAL |
14195.255 |
7585.048 |
5099.333 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
13139.850 |
8845.810 |
4221.700 |
|
|
|
Other Income |
133.450 |
18.780 |
76.750 |
|
|
|
TOTAL (A) |
13273.300 |
8864.590 |
4298.450 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption Expenses |
8738.810 |
5846.290 |
|
|
|
|
Administrative and Other Expenses |
917.770 |
813.710 |
|
|
|
|
TOTAL (B) |
9656.580 |
6660.000 |
3338.350 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
3616.720 |
2204.590 |
960.100 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
905.050 |
419.680 |
205.260 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2711.670 |
1784.910 |
754.840 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1064.490 |
581.320 |
298.030 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1647.180 |
1203.590 |
456.810 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
639.890 |
407.720 |
156.710 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1007.290 |
795.870 |
300.100 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1356.100 |
560.230 |
260.130 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
2363.390 |
1356.100 |
560.230 |
|
|
|
|
|
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|
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|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
1949.230 |
448.630 |
NA |
|
|
|
Construction Materials |
284.490 |
200.570 |
NA |
|
|
TOTAL IMPORTS |
2233.720 |
649.200 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
56.92 |
45.87 |
17.29 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
7.59
|
8.98 |
6.98 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
12.54
|
13.61 |
10.82 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.05
|
14.68 |
9.79 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.29
|
0.32 |
0.15 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.06
|
1.45 |
0.80 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.92
|
3.19 |
11.29 |
LOCAL AGENCY FURTHER INFORMATION
PERFORMANCE OF THE
COMPANY:
The Company has achieved a turnover of Rs.13139.850 Millions (or the year
ended 31 March 2010 as against Rs. 8845.810 Millions for the previous financial
year registering a growth of 48.5% over the previous year. The net profit after
tax has increased to Rs 1007.290 Millions from Rs 795.870 Millions in the
previous year reflecting a growth of approximately 27%.
CHANGES IN THE
SHARE CAPITAL:
During the year, the Company has allotted 1458401 Equity Shares of Rs.10
each at a premium of Rs 675.68 to Baring Private Equity Asia Group resulting in
the increase of paid up capital to Rs.18,81,07,730 as against previous year Rs.
17,35,23,720.
CONVERSION TO PUBLIC LIMITED COMPANY:
As already approved in the Extra-Ordinary
General Meeting held on 30th June, 2010 the Company has been
converted to Public Limited Company and has filed necessary documents with the
Ministry of Corporate Allah’s. Subsequently on receipt of fresh certificate of
incorporation the Company’s name will be changed to Coastal Projects Limited.
OPERATIONS:
Wind Power: The company has been operating
Wind Power Project of 10.5 MW (7 windmills of 1.5 MW capacity each) in the
State of
Bankers Charges
Report as per Registry
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U45203OR1995PLC003982 |
|
Name of the
company |
COASTAL PROJECTS LIMITED |
|
Address of the
registered office or of the principal place of business in |
Plot No. 237, 2nd Floor, Bapuji Nagar, |
|
Type of charge |
Book Debts Movable Property |
|
Particular of
charge holder |
Indusind Bank
Limited, |
|
Email |
|
|
Nature of
description of the instrument creating or modifying the charge |
Agreement for
Hypothecation and Composite Agreement for Hypothecation |
|
Date of
instrument Creating the charge |
24.05.2011 |
|
Amount secured by
the charge |
Rs.550.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Medium Term Loan
- 11% per annum, with yearly reset WCDL- 11.25% per
annum, 180 days Terms of
Repayment Type of
Facility Terms of
Repayment Cash Credit/
WCDL 90 Days Letter of
Credit 180 Days Medium Term
Loan 48 Months Margin Type of
Facility Margin Cash Credit/
WCDL RM : Imported-25%, RM:
Indigenous-25%, WIP-25%, FG-25%, Book Debts-25% Letter of
Credit 5% Medium Term
Loan 10% Extent and
Operation of the charge Exclusive first
charge on construction equipment procured out of the facility for Medium Term
Loan Hypothecation by
way of Pari-passu charge with other WC lenders on unencumbered fixed assets
and entire current assets (both present and future) for WCDL/CC/LC. |
|
Short particulars
of the property charged |
I) Exclusive
first charge on construction equipment procured out of the facility for Medium
Term Loan Hypothecation by
way of Pari-passu charge with other WC lenders on unencumbered fixed assets
and II) Entire
current assets (both present and future) for WCDL/CC/LC |
Fixed Assets:
·
Land
·
Building
·
Plant and Machinery
·
Construction Equipments
·
Office Equipments
·
Furniture and Fixtures
·
Construction Vehicles
·
Office Vehicles
·
Wind Mill
·
Temporary Sheds
AS PER WEBSITE
HISTORY:
The construction industry in India has been recognized as one of the priority
sectors and there is increased thrust on the part of the Government on
development of infrastructure i.e. Hydel Power Projects, Mini Dams, Water
Supply Schemes, Laying of Roads etc. which are having bright prospects for the
industry.
Several State Governments are also giving importance to Hydel Power
Projects for Power supply and Mini Dams for safe drinking water facilities in
all rural and urban areas and thus opening new areas and activities for
industries.
The privatization of transmission of Power by various Electricity Boards
is opening up new avenues in the construction of Hydel Power Projects like
Power House Complex, Head Race Tunnel (HRT), Tail Race Tunnel (TRT) and
Destling Chambers etc.
As Thermal Power Projects are costlier and pollute the environment,
Government Authorities and other different Organizations are preferring to
construct Hydel Power Projects, which are Economical and Environment friendly.
This shift to Hydel Power Projects has opened up new opportunities to the Company.
In view of encouraging trends in the industry, the Company is expected
to show an improved importance in its core business activity as the Company has
already established its name in the above activities and is able to show steady
growth in turnover.
PROFILE:
Subject was promoted in the year 1995. Over the past decade, Subject has
earned a reputation as one of the pioneers and specialists in underground
excavation covering all jobs of Civil Construction of Hydro Electric Projects,
Underground Power House Complexes, Shafts, Rail Tunnels, Water Carriage Tunnels
and Road works. It has the distinction of completing the projects undertaken
well ahead of the time schedule laying emphasis on quality. The Company is
having experienced technical manpower who are thoroughly professional in
various fields to accept challenging assignments throughout the country.
The Company has executed contracts of well established Corporations both
in Private and Public Sector. With the experience it has gained in the field of
tunnelling, it has entered into joint ventures with some of the leading
companies and firms to take up certain mega projects in power generation and
irrigation to expand its horizons. Working in this direction the Company has
successfully bid for the construction of Hydro Electric Projects on BOOT basis.
Having successfully executed a project in
The Company has sound financials and has recorded an average growth of
30% every year since its inception and has consistently earned profits.
MILESTONE:
|
YEAR |
EVENT |
|
1995 |
Incorporated as a Private Limited Company and started operating as a sub-contractor
in a small way. |
|
1997 |
Breakthrough achieved with sub-contract from Patel Engineering Limited
for excavation work for Srisailam Left Bank Hydro Project |
|
1999-2000 |
Crossed 100 million mark by achieving Rs.131.40 million in turnover. |
|
2001-02 |
Achieved Rs.300 million turnover by securing direct contracts for
border fencing from NBCC and NPCC. |
|
2002-03 |
Crossed combined turnover of Rs.500 million on direct and
sub-contracts. |
|
2003-04 |
Achieved all time high growth rate of 58% by timely and meticulous
execution of contracts. |
|
2004-05 |
Surpassed Rs.1000 million mark by enlarging the scope by forming Joint
Ventures with M/s. A. Krishna Reddy and Co and taken up three irrigation projects
valued Rs.188 crores in Andhra Pradesh. |
|
2005-06 |
Entered into Joint Venture with M/s. SEW Construction Limited and
taken up prestigious Allain Duhangan HEP in Himachal Pradesh. Achieved turnover of Rs.1425 millions. An Irrigation Tunneling Project valued Rs.3120 millions is undertaken
as partner in NSC Consortium in Veligonda, Andhra Pradesh. |
|
2005-06 |
Secured ISO certification 9001:2000 |
|
2006-07 |
Secured four major projects worth Rs.10802 million during the year as under
and poised for a grand take off. Gati Hydro Power Project : Rs. 950 million Budhil Hydro Electric Power Project : Rs.1200 million AMR Tunnel scheme (Irrigation- in A.P) : Rs.1300 million |
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.44.72 |
|
|
1 |
Rs.71.95 |
|
Euro |
1 |
Rs.64.79 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--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 |
|
64 |
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.