MIRA
INFORM REPORT
|
Report Date : |
07.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
SHREE GLOBAL TRADEFIN LIMITED (w.e.f. 24.10.1996) |
|
|
|
|
Formerly Known
As : |
BENSONES STEELS LIMITED |
|
|
|
|
Registered Office : |
35, Ashok Chembers, Broach Street, Devji Ratensey Marg, Majid Bunder,
Mumbai-400009, Maharashtra |
|
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Country : |
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|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
15.10.1986 |
|
|
|
|
Com. Reg. No.: |
11-041252 |
|
|
|
|
Paid-Up Capital : |
Rs. 1029.050 Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
L27100MH1986PLC041252 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMS39362B |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAACB2975J |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s shares are listed on
stock exchange. |
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|
|
|
Line of Business : |
Manufacturer
and Trader of coils and cold rolled steel sheet. |
|
|
|
|
No. of Employees : |
10
(approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
Maximum Credit Limit : |
USD 20000000 |
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|
|
|
Status : |
Moderate |
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|
|
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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|
Comments : |
Subject is an established company having moderate track. There appears
some accumulated losses recorded by the company. However, trade relations are
reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INFORMATION DENIED BY
|
Name : |
Mr. J. K. Sarda |
|
Designation : |
Accounts and Finance Head |
|
Contact No.: |
91-22-23480526 |
|
Date : |
05.07.2011 |
LOCATIONS
|
Registered Office : |
35, Ashok Chembers, Broach Street, Devji Ratensey Marg, Majid Bunder, Mumbai-400009,
Maharashtra, India |
|
Tel. No.: |
91-22-23756526/ 3480526 |
|
Fax No.: |
91-22-23756526 |
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E-Mail : |
|
|
Website: |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Sanat Joshi |
|
Designation : |
Managing Director |
|
Address: |
1/81, Goradia Nagar, Ghatkopar (East), Mumbai-400077, |
|
Date of Birth/ Age: |
20.09.1945 |
|
Date of Appointment: |
30.06.2000 |
|
|
|
|
Name : |
Mr. Vasudevan Yelleshwaram |
|
Designation : |
Non Executive and Independent Director |
|
Address: |
A 19/20, Parjanya Society, Ram Chandranagar, Dombivali (East), Thane-421201,
|
|
Date of Birth/ Age: |
14.12.1953 |
|
Date of Appointment: |
31.07.2008 |
|
|
|
|
Name : |
Mr. N K Mohan |
|
Designation : |
Non Executive and Independent Director |
|
Address: |
32/1146, Tilak Nagar, Chembur, Mumbai-400089, |
|
Date of Birth/ Age: |
28.07.1960 |
|
Date of Appointment: |
31.01.2009 |
|
|
|
|
Name : |
Mr. Ravindra Anant Deshpande |
|
Designation : |
Additional Director |
|
Address : |
E/7/3-2, Shree Gajanan Darshal, Co-operative Housing Society,
Sector-7, Sanpada, Navi Mumbai-400705, |
|
Date of Birth/Age : |
26.09.1950 |
|
Date of Appointment : |
31.07.2010 |
|
|
|
|
Name : |
Mr. Ramanathan Rajamani |
|
Designation : |
Director |
|
Address : |
67, A/4, Brindavan Complex, Majwada, Thane-400601, |
|
Date of Birth/Age : |
22.12.1952 |
|
Date of Appointment : |
29.09.2008 |
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|
|
|
Name : |
Mr. Mohan Krishnamoorthy |
|
Designation : |
Director |
|
Address : |
32/1146, Tilak Nagar, Chembur, Mumbai-400089, |
|
Date of Birth/Age : |
28.07.1960 |
|
Date of Appointment : |
29.09.2009 |
KEY EXECUTIVES
|
Name : |
Mr. R Rajalakshmi |
|
Designation : |
Secretary |
|
Address : |
5, Narmada, Plot No. 24A, Sector 14, Vashi, Navi Mumbai-400705, |
|
Date of Birth/Age : |
08.08.1965 |
|
Date of Appointment : |
01.09.2009 |
|
|
|
|
Name : |
Mr. J. K. Sarda |
|
Designation : |
Accounts and Finance Head |
SHAREHOLDING PATTERN
As on 31.03.2011
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
154,091,800 |
74.87 |
|
|
154,091,800 |
74.87 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
154,091,800 |
74.87 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
|
|
|
|
12,553,335 |
6.10 |
|
|
|
|
|
|
439,758 |
0.21 |
|
|
38,716,670 |
18.81 |
|
|
8,437 |
- |
|
|
7,917 |
- |
|
|
520 |
- |
|
|
51,718,200 |
25.13 |
|
Total Public shareholding (B) |
51,718,200 |
25.13 |
|
Total (A)+(B) |
205,810,000 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts
have been issued |
- |
- |
|
|
- |
- |
|
|
- |
- |
|
|
- |
- |
|
Total (A)+(B)+(C) |
205,810,000 |
- |
(1) Indian
Bodies Corporate
Individual shareholders holding nominal
share capital up to Rs. 0.100 millionBUSINESS DETAILS
|
Line of Business : |
Manufacturer
and Trader of coils and cold rolled steel sheet. |
|
|
|
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
10 (approximately) |
|
|
|
|
Bankers : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
M.V Krishna Moorthy Chartered Accountant |
|
Address: |
15, Srivalli, |
|
Tel No.: |
91-22-25152685 |
|
Email: |
CAPITAL STRUCTURE
As on 30.09.2010
Authorised Capital : Rs. 7500.000 Millions
Issued, Subscribed & Paid-up Capital : Rs. 6428.530
Millions
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
210000000 |
Equity Shares |
Rs. 5/- each |
Rs. 1050.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
205810000 |
Equity Shares |
Rs. 5/- each |
Rs. 1029.050
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 |
1029.050 |
1029.050 |
1029.050 |
|
|
2] Share Application Money |
5419.569 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1282.365 |
1282.365 |
1282.365 |
|
|
4] (Accumulated Losses) |
[119.779] |
[132.107] |
[132.923] |
|
|
NETWORTH |
7611.205 |
2179.308 |
2178.492 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
2238.754 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
2238.754 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
7611.205 |
2179.308 |
4417.246 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.298 |
0.389 |
0.455 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
3409.706 |
3174.006 |
3620.973 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000
|
0.000
|
|
|
Sundry Debtors |
349.040
|
640.165
|
332.869
|
|
|
Cash & Bank Balances |
57.048
|
14.681
|
1.816
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
7250.502
|
7379.950
|
4399.958
|
|
Total
Current Assets |
7656.590
|
8034.796
|
4734.643
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1153.380
|
2472.400
|
457.573
|
|
|
Other Current Liabilities |
2301.980
|
6557.315
|
3482.252
|
|
|
Provisions |
0.029
|
0.168
|
0.000
|
|
Total
Current Liabilities |
3455.389
|
9029.883
|
3939.825
|
|
|
Net Current Assets |
4201.201
|
[995.087]
|
795.818
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
7611.205 |
2179.308 |
4417.246 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
3524.521 |
3074.318 |
2589.286 |
|
|
|
Other Income |
12.035 |
37.580 |
8.541 |
|
|
|
TOTAL (A) |
3536.556 |
3111.898 |
2597.827 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases |
3453.989 |
3065.1570 |
2575.968 |
|
|
|
Administrative, Selling and Other Expenses |
65.741 |
41.625 |
19.284 |
|
|
|
Salary |
4.373 |
4.083 |
2.000 |
|
|
|
TOTAL (B) |
3524.103 |
3110.865 |
2597.252 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
12.453 |
1.035 |
0.575 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.006 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
12.447 |
1.035 |
0.575 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.091 |
0.091 |
0.087 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
12.356 |
0.944 |
0.488 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
0.028 |
0.128 |
0.056 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
12.328 |
0.816 |
0.432 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
[132.107] |
[132.923] |
[133.355] |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
[119.779] |
[132.107] |
[132.923] |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.06 |
NA |
NA |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2010 |
30.09.2010 |
31.12.2010 |
31.03.2011 |
|
Type |
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
4th
Quarter |
|
Net Sales |
1175.920 |
2077.590 |
2238.620 |
1501.120 |
|
Total Expenditure |
1171.460 |
2055.660 |
2248.290 |
1556.510 |
|
PBIDT (Excl OI) |
4.460 |
21.930 |
(9.670) |
(55.390) |
|
Other Income |
0.560 |
3.530 |
0.360 |
0.460 |
|
Operating Profit |
5.020 |
25.460 |
(9.310) |
(54.940) |
|
PBDT |
5.020 |
25.460 |
(9.310) |
(54.940) |
|
Depreciation |
0.020 |
0.020 |
0.020 |
0.040 |
|
Profit Before Tax |
4.990 |
25.430 |
(9.330) |
(54.950) |
|
Tax |
0.000 |
2.140 |
(0.070) |
(2.130) |
|
Profit After Tax |
4.990 |
23.300 |
(9.260) |
(52.830) |
|
Net Profit |
4.990 |
23.300 |
(9.260) |
(52.830) |
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
0.35
|
0.03 |
0.02 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.35
|
0.03 |
0.02 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.16
|
0.01 |
0.11 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.45
|
4.14 |
2.84 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.22
|
0.89 |
1.20 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
(Rs.
in Millions)
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Sundry Creditors |
1153.380
|
2472.400
|
457.573 |
OPERATIONS and
OVERALL PERFORMANCE
The Company has
earned Net Profit of Rs12.328 Millions for the
year as against
Profit of Rs. 0.816 Million in the last
year. The total Income
of the Company was Rs. 3536.556
Millions as against Rs.3111.898 Millions during the last year.
MANAGEMENT
DISCUSSION AND ANALYSIS
The core business of the Company is Trading. The Management discussions
and analysis is given hereunder:
a) Industry structure
and development: Company is engaged
in trading activity primarily having vast potential and now being
getting attention of the organised
sector.
b) Opportunities and threats: High economic growth in the country
would offer opportunities and
the Company would
continuously try to
take advantage of opportunities coming its way.
e) Segment-wise performance: The Company is operating on
only one
broad segment and hence
separate segmental reporting is
not applicable. The Company has no activity outside
d) Outlook: The outlook for 2009-10 has to be viewed in the context with overall economic scenario etc.
AUDITED
FINANCIAL RESULTS FOR QUARTER AND HALF YEAR ENDED 31.03.2011
(Rs.
in Millions)
|
Particulars |
|
Year
ended 31.03.2011 (Audited) |
|
1. Net Sales/ Income form Operations |
|
6993.250 |
|
2. Expenditure |
|
|
|
a. Increase/ Decrease in Stock in Trade |
|
0.000 |
|
b. Purchase of Traded Goods |
|
6788.791 |
|
c. Employee Cost |
|
5.406 |
|
d. Depreciation |
|
0.096 |
|
e. Other Expenditure |
|
237.727 |
|
Total Expenditure |
|
7032.020 |
|
3. Profit/ Loss from Operations before Interest and Exceptional Item |
|
(38.770) |
|
4. Other Income |
|
4.908 |
|
5. Profit/ Loss from before Interest and Exceptional Items |
|
(33.862) |
|
6. Interest |
|
0.000 |
|
7. Profit/ Loss from after Interest but before Exceptional Items |
|
(33.862) |
|
8. Exceptional Items |
|
0.000 |
|
9. Profit/ Loss from Before Tax |
|
(33.862) |
|
10. Tax Expenses |
|
|
|
a. Income Tax earlier years |
|
(0.062) |
|
11. Net Profit/ Loss from Ordinary Activities After Tax |
|
(33.800) |
|
12. Extraordinary Items (net of tax expenses) |
|
0.000 |
|
13. Net Profit/ Loss for the period |
|
(33.800) |
|
14. Paid-up Equity Shares Capital (Face Value Rs. 5/- per share) |
|
1029.050 |
|
15. Reserves excluding revaluation Reserve. |
|
1147.217 |
|
16. Earning per share (EPS) |
|
|
|
a) Before Extraordinary Items Basic and Diluted |
|
(0.65) |
|
b) After Exceptional Item Basic and Diluted |
|
(0.65) |
|
17. Public Shareholding |
|
|
|
- Number of Shares |
|
51718200 |
|
- Percentage of Shareholding |
|
25.13 |
|
18. Promoters and Promoter group shareholding |
|
|
|
a) Pledged/ Encumbered |
|
|
|
- Number of Shares |
|
-- |
|
- Percentage of Shares (as a % of the total shareholding of promoter
and promoter group) |
|
-- |
|
- Percentage of Shares (as a % of the total share capital of the
company) |
|
-- |
|
b) Non-Encumbered |
|
|
|
- Number of Shares |
|
154091800 |
|
- Percentage of Shares (as a % of the total shareholding of promoter
and promoter group) |
|
100.00 |
|
- Percentage of Shares (as a % of the total share capital of the
company) |
|
74.87 |
Notes:
- Company is operating
on only one broad segment and hence no separate segmental results have
been given.
- The above
results were reviewed by the audit committee and thereafter approved and
taken on record by board of directors of the company at their meeting held
on 28.05.2011.
- No Investor
complaints were pending at the beginning of the quarter. During the
quarter Nil investor complaints were received.
- previous year
figures has been regrouped/reclassified wherever necessary.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
L27100MH1986PLC041252 |
|
Name of the
company |
SHREE GLOBAL TRADEFIN LIMITED |
|
Address of the
registered office or of the principal place of business in |
35, Ashok Chembers, Broach Street, Devji Ratensey Marg, Majid Bunder,
Mumbai-400009, Maharashtra, India |
|
This form is for |
Creation of
Charge |
|
Type of charge |
Book Debts Others |
|
Particular of
charge holder |
Kotak Mahindra Bank Limited, 36-38A, Nariman Bhavan, 227, D, Nariman
Point, Mumbai-400021, Maharashtra, India |
|
Nature of
instrument creating charge |
Deed of
Hypothecation |
|
Date of
instrument Creating the charge |
21.10.2010 |
|
Amount secured by
the charge |
Rs. 262.500
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest As may be
specified by the bank from time to time Terms of
Repayment BG- Tenor Upto 6
Months and then renewable on monthly basis. Margin BG- Minimum cash
margin of 10% shall be provided upfront in the form of Fixed Deposit. (100% cash margin
for guarantees covering disputed liabilities) Lien shall be
marked on the FD till such time as the BG is cancelled and returned to the
bank. Extent and
Operation of the charge First and
exclusive charge by way of hypothecation of current assets, investments and
loan and advances of the borrower, in favour of KMBL to secure the repayment of
financial facilities granted by the bank to the borrower. |
|
Short particulars
of the property charged |
The whole of
Borrower’s current assets, Investments and Loan and Advances present and
future. |
Fixed Assets:
- Computers
- Software Development
- Office Equipments
- Motor Car
- Furniture and Fixture
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.44.38 |
|
|
1 |
Rs.71.24 |
|
Euro |
1 |
Rs.64.16 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
29 |
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.