MIRA
INFORM REPORT
|
Report Date : |
22.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
VIJAI ELECTRICALS LIMITED |
|
|
|
|
Registered
Office : |
6-3-648/1 and 2, Off Raj |
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|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
31.05.1980 |
|
|
|
|
Com. Reg. No.: |
002697 |
|
|
|
|
Paid-up Capital
: |
Rs.913.942 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31909AP1980PLC002697 |
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|
|
|
Legal Form : |
A closely held Public Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer of Transformers |
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|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
A (64) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 20181712 |
|
|
|
|
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. Financials
Position of the company appears to be sound. Trade relations are reported as
fair. Business is active. Payments are reported to 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) |
|
|
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/Corporate Office : |
6-3-648/1 and 2, Raj |
|
Tel. No.: |
91-41-30617777/30617778 |
|
Fax No.: |
91-40-30617892 / 30617733 |
|
E-Mail : |
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|
Website : |
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|
Factory 2 : |
Rudraram, Medak Dist., |
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|
|
|
Haridwar Unit |
Plot No. 1-A, Sector
12, Iie, Sidcul, Haridwar - 249 403, |
|
Tel. No.: |
91-1334-664000/664053 |
|
Fax No.: |
91-1334-664040/235375/235396 |
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E-Mail : |
|
|
|
|
|
Roorkee Unit |
Industrial Plot No. 3
to 9, |
|
Tel. No.: |
91-1332-235052/53/55 |
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Fax No.: |
91-1332-235051 |
|
E-Mail : |
|
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|
Overseas Ventures : |
Located at: |
DIRECTORS
As on 28.09.2010
|
Name : |
Mr. Ramesh Jai Dasari |
|
Designation : |
Managing Director |
|
Address : |
173, |
|
Date of Birth/Age : |
15.06.1944 |
|
Date of Appointment : |
31.05.80 |
|
|
|
|
Name : |
Mr. Satyanarayana Dasari |
|
Designation : |
Director |
|
Address : |
Ravinivas, 8-3-310/A, 14A, Road – 14, Banjara Hills, |
|
Date of Birth/Age : |
15.01.1951 |
|
Date of Appointment : |
31.05.1980 |
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|
|
|
Name : |
Mr. T R C Bose |
|
Designation : |
Director |
|
Address : |
101, Vamshirishi Residence, 6-3-865/B, |
|
Date of Birth/Age : |
15.01.1941 |
|
Date of Appointment : |
12.03.2005 |
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|
|
|
Name : |
Mr. Dattatraya Vishwanath Narke |
|
Designation : |
Director |
|
Address : |
Asish Bunglow, Rahate Colony, |
|
Date of Birth/Age : |
23.05.1948 |
|
Date of Appointment : |
24.08.2002 |
|
|
|
|
Name : |
Mr. Mohan Krishna Dasari |
|
Designation : |
Whole Director |
|
Address : |
8-3-224/1/5, Yousufguda, |
|
Date of Birth/Age : |
01.06.1954 |
|
Date of Appointment : |
18.10.2000 |
|
|
|
|
Name : |
Mr. Sivangala Thani Rajasundaram |
|
Designation : |
Nominee Director |
|
Address : |
Flat 24, Srinivas Apartment, 6-3-712/138 and 139, Bansilai
bagh, Old Punjagutta House, Board Colony, Punjagutta, Hyderabad – 500082,
Andhra Pradesh, India |
|
Date of Birth/Age : |
23.05.1948 |
|
Date of Appointment : |
24.08.2002 |
|
|
|
|
Name : |
Mr. Prathipati Abraham |
|
Designation : |
Director |
|
Address : |
Flat No.5C, Girdhar Apartments, |
|
Date of Birth/Age : |
01.07.1939 |
|
Date of Appointment : |
07.06.2005 |
|
|
|
|
Name : |
Mr. Nadeem Askari Panjetan |
|
Designation : |
Nominee Director |
|
Address : |
1204, Wallance Apartments – I, |
|
Date of Birth/Age : |
23.02.1961 |
|
Date of Appointment : |
02.07.2005 |
|
|
|
|
Name : |
Mr. Narasimharamulu Pantam |
|
Designation : |
Director |
|
Address : |
Flat No.402, Grand Residea Apartments, 2nd
lane, Sai Enllave Colony, Habsigui, |
|
Date of Birth/Age : |
25.07.1945 |
|
Date of Appointment : |
24.12.2005 |
|
|
|
|
Name : |
Mr. Anil Ahuja |
|
Designation : |
Director |
|
Address : |
29, leonie Hill, 19 – 04, |
|
Date of Birth/Age : |
01.12.1962 |
|
Date of Appointment : |
04.11.2006 |
|
|
|
|
Name : |
Mr. Suresh Babu Pentyala |
|
Designation : |
Director |
|
Address : |
A/76, Santosh Nagar, Mehdi Patnam, |
|
Date of Birth/Age : |
10.07.1964 |
|
Date of Appointment : |
01.12.2001 |
|
|
|
|
Name : |
Mr. Jebaraj J. Samuel |
|
Designation : |
Director |
|
Address : |
1203 Wallace Apartment, 1, Sleater Road, Grant Road West,
Mumbai – 400007, Maharashtra, India |
|
Date of Birth/Age : |
22.06.1968 |
|
Date of Appointment : |
18.12.2009 |
KEY EXECUTIVES
|
Name : |
P Suresh Babu |
|
Designation : |
Company Secretary |
|
Address : |
A/76 Santosh Nagar, Mehdipatnam, Hyderabad, Rangareddy
District – 500028, Andhra Pradesh, India |
|
Date of Birth/Age : |
10.07.1964 |
|
Date of Appointment : |
01.12.2001 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
Equity Shares As on 28.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
D. J. Ramesh |
|
58456892 |
|
D. Satyanarayana |
|
6714114 |
|
Smt.D. Padmapriya |
|
440000 |
|
D. Krishna Mohan |
|
4864837 |
|
D. V. Balavardhana Rao |
|
4649920 |
|
D. Syam Prasad |
|
4650074 |
|
Smt. D. Subhashini |
|
2200 |
|
Smt D. Sujatha Lakshmi |
|
2200 |
|
Smt. D. Vijaya Lakshmi |
|
2200 |
|
P. Koteswara Rao |
|
231957 |
|
Smt. D. Jhansi Lakshmi |
|
247874 |
|
Smt. P. Vindhya Rani |
|
247874 |
|
Samrakshana Electricals Limited, Hyderabad |
|
5940000 |
|
3i Power Projects(Mauritius) Limited,
Mauritius |
|
4244088 |
|
Smt. Dasari Usha Rani |
|
200000 |
|
Total |
|
90894230 |
|
|
|
|
Preference Shares As on 28.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Samrakshana Electricals Limited, Hyderabad |
|
50000 |
As on 30.09.2010
|
S. No. |
Category |
Percentage |
|
1 |
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
4.67 |
|
2 |
Directors or relatives
of Directors |
88.79 |
|
3 |
Bodies corporate |
6.54 |
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Transformers |
PRODUCTION STATUS AS ON 31.03.2009
|
Particulars |
Unit |
|
Installed
Capacity |
Actual
Production |
|
Transformers |
Nos.
P.a |
|
241116 (36435 MVA) |
130587 (13228 MVA) |
|
Insulated Conductor |
MT P.a |
|
12000 |
5787 |
|
Transformer Oil |
MT P.a, KL |
|
35424 |
8750 |
|
Special Steel |
MT P.a |
|
10000 |
-- |
|
CRGO Laminations |
MT P.a |
|
100000 |
518.08 |
|
Lightning Arrestors |
Nos.
P.a |
|
-- |
34560 |
|
Parts of Transformers |
Nos. |
|
-- |
19186 |
|
Switchgear and related products |
Nos. |
|
11850 |
4849 |
|
Aluminium Rod |
MT |
|
17100 |
102.56 |
|
Conductors |
MT |
|
4200 |
810.67 |
|
Cables |
KM |
|
4800 |
-- |
GENERAL INFORMATION
|
Customers : |
Domestic Customers Andhra Pradesh
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|
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|
Bankers : |
· Andhra Bank, Specialised Corporate Finance Branch, Somajiguda, Hyderabad - 500082, Andhra Pradesh, India · IDBI Bank Limited, IDBI Towerwtc Complex, Cuffe Parade, Mumbai – 400005, Maharashtra, India |
||||||||||||||||||||||||
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||||||||||||||||||||||||
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Facilities : |
|
|
|
|
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Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
P V R K Nageswara Rao Chartered Accountant |
|
Address : |
109, Metro Residency, 6-3-1247, Raj |
|
|
|
|
Subsidiaries : |
CIN No.: U28113WB1988PTC044317
CIN No.: U40105AP2007PLC056799 |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
15,00,00,000 |
Equity Shares |
Rs.10/- each |
Rs.1500.000 Millions |
|
5,00,000 |
Redeemable Cumulative Preference Shares |
Rs.100/- each |
Rs.50.000 Millions |
|
|
Total |
|
Rs.1550.000
Millions |
|
|
|
|
|
Issued:
|
No. of Shares |
Type |
Value |
Amount |
|
9,08,94,230 |
Equity Shares |
Rs.10/- each |
Rs.908.942
Millions |
|
50,000 |
9% Redeemable Cumulative Preference Shares |
Rs.100/- each |
Rs.5.000 Millions |
|
|
Total |
|
Rs.913.942 Millions |
|
|
|
|
|
Subscribed and Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
9,08,94,230 |
Equity Shares |
Rs.10/- each |
Rs.908.942
Millions |
|
|
(Out of the above 205590 (Previous year: 205590) equity shares of Rs.10/- each have been allotted for consideration other than cash as fully paid-up and 8,19,65,900(Previous year: 8,19,65,900) equity shares have been allotted by way of bonus shares by capitalisation of General Reserve and Free Reserves) |
|
|
|
50,000 |
9% Redeemable Cumulative Preference Shares |
Rs.100/- each |
Rs.5.000 Millions |
|
|
Total |
|
Rs.913.942 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 |
913.942 |
913.942 |
913.942 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves and Surplus |
4131.486 |
3944.738 |
3940.571 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
5045.428 |
4858.680 |
4854.513 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
6803.579 |
8704.627 |
6564.970 |
|
|
2] Unsecured Loans |
507.477 |
225.479 |
221.979 |
|
|
TOTAL BORROWING |
7311.056 |
8930.106 |
6786.949 |
|
|
DEFERRED TAX LIABILITIES |
365.277 |
310.650 |
246.058 |
|
|
|
|
|
|
|
|
TOTAL |
12721.761 |
14099.436 |
11887.520 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
4823.144 |
4484.414 |
3499.054 |
|
|
Capital work-in-progress |
448.164 |
697.458 |
964.005 |
|
|
|
|
|
|
|
|
Unallocated Expenditure Pending Capitalisation |
19.879 |
55.046 |
319.181 |
|
|
Advance for Capital Works |
287.037 |
254.569 |
442.613 |
|
|
Scrap Value of Discarded Asset |
1.400 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
462.866 |
457.404 |
372.398 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS and ADVANCES |
|
|
|
|
|
|
Inventories |
5268.012
|
4978.221 |
3950.469 |
|
|
Sundry Debtors |
6516.607
|
7157.697 |
4907.942 |
|
|
Cash and Bank Balances |
1245.827
|
1035.875 |
1187.578 |
|
|
Other Current Assets |
28.481
|
0.000 |
0.000 |
|
|
Loans and Advances |
1825.357
|
1346.838 |
1214.509 |
|
Total
Current Assets |
14884.284
|
14518.631 |
11260.498 |
|
|
Less : CURRENT
LIABILITIES and PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
6640.103
|
6216.184 |
4835.743 |
|
|
Other Current Liabilities |
1429.851
|
20.850 |
16.816 |
|
|
Provisions |
135.059
|
131.052 |
117.670 |
|
Total
Current Liabilities |
8205.013
|
6368.086 |
4970.229 |
|
|
Net Current Assets |
6679.271
|
8150.545 |
6290.269 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
12721.761 |
14099.436 |
11887.520 |
|
PROFIT and LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
16090.023 |
14245.542 |
13293.086 |
|
|
|
Other Income |
475.317 |
324.431 |
299.650 |
|
|
|
TOTAL (A) |
16565.340 |
14569.973 |
13592.736 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Material Consumed |
11917.148 |
11300.192 |
10021.563 |
|
|
|
Manufacturing and Construction
Expenses |
897.948 |
691.820 |
740.999 |
|
|
|
Salaries, Wages |
1078.412 |
1025.812 |
736.755 |
|
|
|
Other Expenses |
498.740 |
660.206 |
384.836 |
|
|
|
Selling Expenses |
331.950 |
153.568 |
219.869 |
|
|
|
Increased / Decreased in stock |
(56.986) |
(971.148) |
(512.837) |
|
|
|
TOTAL (B) |
14667.212 |
12860.450 |
11591.185 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1898.128 |
1709.523 |
2001.551 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1342.348 |
1327.272 |
828.881 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
555.78 |
382.251 |
1172.670 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
301.742 |
277.603 |
162.068 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
254.038 |
104.648 |
1010.602 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
51.369 |
84.004 |
363.075 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
202.669 |
20.644 |
647.527 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1946.762 |
1942.595 |
1522.180 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to Proposed Dividend – Preference
Shares |
0.450 |
0.450 |
0.450 |
|
|
|
Transfer to Proposed Dividend – Equity
Shares |
13.634 |
13.634 |
22.724 |
|
|
|
Provision for Corporate Dividend Tax |
1.837 |
2.393 |
3.938 |
|
|
|
Transfer to General Reserve |
50.000 |
0.000 |
200.000 |
|
|
BALANCE CARRIED
TO THE B/S |
2083.510 |
1946.762 |
1942.595 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
21226.560 |
1419.759 |
1961.479 |
|
|
TOTAL EARNINGS |
21226.560 |
1419.759 |
1961.479 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
3893.449 |
3602.924 |
3273.070 |
|
|
|
Capital Goods |
31.260 |
159.519 |
32.479 |
|
|
TOTAL IMPORTS |
3924.709 |
3762.443 |
3305.548 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.22 |
0.22 |
7.12 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
1.22
|
0.14 |
4.76 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.57
|
0.73 |
7.60 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.28
|
0.55 |
6.84 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05
|
0.02 |
0.20 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.07
|
3.14 |
2.42 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.81
|
2.28 |
2.65 |
LOCAL AGENCY FURTHER INFORMATION
REVIEW OF OPERATIONS
The Company has recorded a gross turnover of Rs. 17026.700 millions
as against a turnover of Rs. 15430.200 millions in the previous year
registering a growth rate of 10.35%.
The company registered a Profit before tax of Rs. 254.038 millions
for the financial year 2009-10 as against Rs. 104.648 millions in the previous
year.
The Order inflow during the year was Rs. 25201.300 millions and the unexecuted orders at year end were Rs. 34880.900 millions.
OUTLOOK
The Central Government has set a very high target of 78,700 MW of
power generation in the 11th Five year Plan (2007-12) of the country. The
development of Ultra Mega Power Projects (UMPPs) i.e large sized projects with
capacity of more 4000 MW has been identified as a thrust area by Government of
India.
The ambitious Generation Capacity additions, transmission and
distribution infrastructure projects planned in the Eleventh Plan will create
significant demand for power transformers, Vacuum Circuit Breakers, Current
Transformers, Distribution Transformers and conductors. Your Company is well
poised to seize the emerging opportunities.
As regards the Exports, the Company is planning to permeate into
untapped market segments of the global market as there is huge raise of demand
for energy across the globe. The Company foresees huge opportunities in the
markets of African, Far Eastern Countries, European countries etc. and the
exports continue to be thrust area for the Company.
The overall outlook for the company continues to be positive and the management is optimistic in this regard.
Fixed Assets:
- Land and Development
- Buildings
- Plant and Machinery
- Computers
- Office Equipment
- Furniture and Fixtures
- Vehicles
CMT REPORT (Corruption, Money Laundering and 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.44.91 |
|
|
1 |
Rs.72.89 |
|
Euro |
1 |
Rs.64.48 |
SCORE and 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 |
YES |
|
--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.