MIRA
INFORM REPORT
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Report Date : |
16.05.2011 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
78, Bhosri Industrial Area, Pune – 411026, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
30.06.1968 |
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Com. Reg. No.: |
11-14309 |
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CIN No.: [Company
Identification No.] |
U24119MH1968PTC014309 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PNED03781B |
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PAN No.: [Permanent
Account No.] |
AAACD7365G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Spirally Welded Pipes. Manufacturer of Industrial Safety Shoes. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (52) |
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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 1100000 |
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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 a well established and a reputed company having fine 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 normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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 DENIED BY
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Name : |
Mr. Pathak |
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Designation : |
Accounts Manager |
LOCATIONS
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Registered Office / Head Office
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78, Bhosri Industrial Area, Pune – 411026, |
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Tel. No.: |
91-20-27120994 / 27120020 / 27122696 |
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Fax No.: |
91-20-27120774 / 27120485 |
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E-Mail : |
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Website : |
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Units : |
Industrial
Maintenance Chemicals T – 01 / T – 77 / T – 78, MIDC Industrial Area, Bhosari, Pune –
411026, Tel No. : 91-20-27120714 / 30623131 / 30622509 Fax No. : 91-20-27111883 Industrial
Safety Shoes Demech House, 814 / B, Tel No. : 91-20-25654213 Email : resourseprotectors@vsnl.net
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Branches: |
Mumbai Office 3rd Floor, Dhiraj Chambers, 9, Haraimahal Somani Marg,
Mumbai – 400001, Tel No.: 91-22-22077926 / 22077927 Email : afplmkt@vsnl.com Chennai Office Flat No. 4, 7rh Floor, A – Wing, Parsn Manere, 602, Mount Road,
Chennai – 600006, Tel No. : 91-44-28258415 / 28257829 Fax No. : 91-44-28252828 Email: demech@md3.vsnl.net.in |
DIRECTORS
AS ON 11.06.2010
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Name : |
Mr. Kashinath Rajaram Natu |
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Designation : |
Managing Director and Chairman |
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Address : |
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Date of Birth/Age : |
18.11.1932 |
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Date of Appointment : |
13.06.1969 |
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Name : |
Mrs. Bhagyashree K Natu |
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Designation : |
Director |
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Address : |
Plot No. 39, National CHS, S. No. 118-124, Aundh, Pune - 411007, ,
Maharashtra, India |
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Date of Birth/Age : |
22.05.1964 |
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Date of Appointment : |
30.09.1998 |
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Name : |
Mr. Santosh K Gupta |
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Designation : |
Director |
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Address : |
10, |
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Date of Birth/Age : |
01.06.1946 |
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Date of Appointment : |
30.09.2006 |
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Name : |
Mrs. Jyoti D Bhide |
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Designation : |
Director |
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Address : |
CB 23/24, |
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Date of Birth/Age : |
31.12.1966 |
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Date of Appointment : |
14.09.2007 |
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Name : |
Mr. Charusheela P Ranade |
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Designation : |
Director |
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Address : |
Q 31, Indira nagar, Dahanukar Colony, Kothrud, Pune - 411029,
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Date of Birth/Age : |
02.04.1962 |
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Date of Appointment : |
14.09.2007 |
KEY EXECUTIVES
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Name : |
Mr. Pathak |
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Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 11.06.2010
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Names of Shareholders |
No. of Shares |
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Kashinath Rajaram Natu |
20080 |
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Prabha Kashinath Natu J/W Bhagyashree K Natu |
3000 |
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Bhagyashree K Natu J/W Prabha
Kashinath Natu |
9400 |
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Jyoti D Bhide J/W Prabha Kashinath Natu J/W Mrs. Rujuta A Natu |
6400 |
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Prabha Kashinath Natu J/W Kashinath Rajaram Natu |
72640 |
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Kashinath Rajaram Natu J/W Prabha Kashinath Natu |
227760 |
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Bhagyashree K Natu |
90000 |
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Rujuta A Natu J/W Prabha Kashinath Natu |
74400 |
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Jyoti D Bhide J/W Rujuta A Natu J/W Prabha Kashinath Natu |
6440 |
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Demech Overseas Construction Private Limited, |
392870 |
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Demech Overseas Construction Private Limited, |
79996 |
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Kashinath Rajaram Natu |
4 |
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Total |
982990 |
Equity Share Break up as on 30.09.2010
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Category |
Percentage |
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Directors or relatives of directors |
52.00 |
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Bodies Corporate |
48.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Spirally Welded Pipes. Manufacturer of Industrial Safety Shoes. |
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Products : |
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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 : |
Chandrakant G. Doshi and Company Chartered Accountants |
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Address : |
Office No. 12, P. J. Chambers, Pimpri, Pune – 411018, |
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Tel. No.: |
91-11-30684201 / 27424286 |
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Fax No.: |
91-11-30684200 |
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E-Mail : |
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Website : |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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4000000 |
Equity Shares |
Rs. 10 /- each |
Rs. 40.000 Millions |
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Issued Capital :
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No. of Shares |
Type |
Value |
Amount |
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1530000 |
Equity Shares |
Rs. 10 /- each |
Rs. 15.300 Millions |
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Subscribed & Paid-up:
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No. of Shares |
Type |
Value |
Amount |
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982990 |
Equity Shares |
Rs. 10 /- each |
Rs. 9.830 Millions |
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Of the Above:
540490 shares were allotted as fully paid up
Bonus Shares by Capitalisation of General Reserve.
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
9.830 |
9.830 |
9.830 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
263.493 |
184.827 |
135.039 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
273.323 |
194.657 |
144.869 |
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LOAN FUNDS |
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1] Secured Loans |
23.985 |
25.436 |
16.214 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
23.985 |
25.436 |
16.214 |
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DEFERRED TAX LIABILITIES |
6.485 |
6.105 |
6.591 |
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TOTAL |
303.793 |
226.198 |
167.674 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
87.158 |
74.668 |
64.058 |
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Capital work-in-progress |
3.048 |
2.490 |
0.000 |
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INVESTMENT |
12.133 |
10.670 |
8.457 |
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DEFERREX TAX ASSETS |
0.000 |
0.00 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
25.931
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31.570
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11.851 |
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Sundry Debtors |
169.046
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121.721
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109.877 |
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Cash & Bank Balances |
30.469
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34.897
|
17.170 |
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Other Current Assets |
0.000
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0.000
|
0.000 |
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Loans & Advances |
34.451
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64.879
|
42.018 |
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Total
Current Assets |
259.897
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253.067
|
180.916 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
32.186
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32.095
|
37.582 |
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Current Liabilities |
16.549
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15.675
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8.852 |
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Provisions |
9.708
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66.927
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39.323 |
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Total
Current Liabilities |
58.443
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114.697
|
85.757 |
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Net Current Assets |
201.454
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138.370
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95.159 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
303.793 |
226.198 |
167.674 |
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PROFIT & LOSS ACCOUNT
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PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Income |
459.365 |
377.523 |
366.344 |
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Other Income |
15.783 |
13.613 |
10.041 |
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TOTAL (A) |
475.148 |
391.136 |
376.385 |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
349.825 |
304.434 |
309.042 |
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Advertising Expenses |
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TOTAL (B) |
349.825 |
304.434 |
309.042 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
125.323 |
86.702 |
67.343 |
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Less |
FINANCIAL
EXPENSES (D) |
1.425 |
1.268 |
0.778 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
123.898 |
85.434 |
66.565 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
11.174 |
8.892 |
8.338 |
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PROFIT BEFORE
TAX (E-F) (G) |
112.724 |
76.542 |
58.227 |
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Less |
TAX (I) |
35.463 |
26.762 |
22.192 |
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PROFIT AFTER TAX
(G-I) (J) |
77.261 |
49.788 |
36.035 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
4.886 |
5.098 |
9.062 |
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Add |
LAST YEAR
RESERVE FOR DOUBTFUL DEBTS WRITTEN BACK
|
1.405 |
0.000 |
0.000 |
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Less |
APPROPRIATIONS |
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Transfer to General Reserve |
75.000 |
50.000 |
40.000 |
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Dividend |
0.000 |
0.000 |
0.000 |
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Tax on Dividend |
0.000 |
0.000 |
0.000 |
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BALANCE CARRIED
TO THE B/S |
8.552 |
4.886 |
5.097 |
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EARNINGS IN
FOREIGN CURRENCY |
NA |
36.720 |
30.365 |
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IMPORTS |
NA |
1.777 |
4.810 |
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Earnings Per
Share (Rs.) |
78.60 |
-- |
-- |
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KEY RATIOS
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PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
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PAT / Total Income |
(%) |
16.26
|
12.73
|
9.57 |
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Net Profit Margin (PBT/Sales) |
(%) |
24.54
|
20.27
|
15.89 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
32.48
|
23.97
|
23.77 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.41
|
0.40
|
0.40 |
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Debt Equity Ratio (Total Liability/Networth) |
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0.30
|
0.72
|
0.70 |
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Current Ratio (Current Asset/Current Liability) |
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4.45
|
2.21
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2.11 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITOR
DETAILS
Rs
in Millions
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Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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Sundry Creditors – Micro, SSI and Medeum |
10.980
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10.778
|
0.398 |
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Sundry Creditors – others |
17.550
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17.210
|
30.914 |
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Expenses |
3.656 |
4.107 |
6.270 |
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Total |
32.186
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32.095
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37.582 |
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Turnover and
Performance:
Previous year
Performance:
During the year, the company made a turnover of Rs. 459.365 Millions including
Export of Rs. 59.329 Millions
Current Year
Performance:
In the months of April and up to 14th May 2010, the Company
has achieved sales turnover of RS. 22.700 Millions. Pending orders for Wear
Resist products are Rs. 231.100 Millions and for Material Handling Equipments
are Rs. 60.500 Millions. The Company excepts a turnover of around Rs. 750.000
Millions during the year 2010-11
Joint Ventures:
During the year the company has
made Joint Venture for Ash Handling Systems for Power Plant and for that
Subject has incorporated Joint Venture Private Limited Company by named DEMECH
Power Projects and Infrastructure Private Limited.
Fixed Assets:
- Land Freehold
- Land
Leasehold
- Building
(Office and Factory)
- Temporary
Shed
- Plant and
Machinery
- Electrical
Installation
- Office
Equipment
- Furniture and
Fixture
- Computer
- Vehicle
Form 8:
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Name of the company |
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Presented By |
Mr. K. R. Natu – Managing Director |
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1) Date and description of instrument creating the change |
Deed of
hypothecation of stocks and book debts dated 18.02.1998 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Cash credit Rs.
15.000 Millions Letter of Credit Rs.
3.000 Millions |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Hypothecation of
stocks viz Raw Material, WIP, etc. Hypothecation of
Book debts of cash credit division at: 78, Bhosri Industrial Area, Pune – 411026, 381/3, Pune – T – 91, MIDC, Bhosri Industrial Area, Pune – 411026, |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Rate of interest
2.25% above PLR maximum 16.25%, Margin 25% or cash credit and 15% Letter of
credit |
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5) Name and Address and description of the person entitled to the charge. |
Bank of |
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6) Date and brief description of instrument modifying the charge |
Supplemental
composite instruments of hypotehaction of goods, book debts, etc dated
19.10.2004 |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
The original
charge for total credit facilities of Rs. 18.00 Millions was duly registered
on 17.08.1998 vide entry no. 212 and 213 By supplemental composite
instruments of machinery of goods, book debts, etc dated 23.01.2004. The cash
credit was enhanced by Rs. 2.000 Millions making total cash credit of Rs.
17.000 Millions and letter of credit was enhanced by Rs. 2.000 Millions
making total letter of credit limit of Rs. 5.000 Millions and total limit of
Rs. 22.000 Millions. Other terms and
conditions: Rate of interest
1.5% above PLR minimum 12.25% plus interest tax with monthly rests, Margin
25% on stocks on book debts and 10% on Letter of Credit. By modification
the over all limits of cash basalt division of Rs. 22.000 Millions and SWP
division Rs. 9.000 Millions combined and increased by Rs. 36.500 Millions
from Rs. 31.000 Millions to Rs. 67.500 Millions. |
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Corporate identity
number of the company |
U24119MH1968PTC014309 |
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Name of the
company |
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Address of the
registered office or of the principal place of business in |
78, Bhosri Industrial Area, Pune – 411026, |
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This form is for |
Modification of charge |
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Charge
identification (ID) number of the charge to be modified |
80060978 |
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Type of charge |
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Particular of charge
holder |
BANK OF |
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Nature of
instrument creating charge |
Suuplemental Composite Instrument Of Hypothecation Of Goods, Book Debts,
Movable Machinery And Vehicles Dated 14th August 2010. |
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Date of
instrument Creating the charge |
14.08.2010 |
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Amount secured by
the charge |
Rs. 70.000 Millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
(a)
Rate of interest 1% Above The BPLR I.E. 13.50% At Present With Monthly Rests. (b)
Terms of repayment On Demand (c)
Margin 25% Of Stock And Book Debts And Cash Margin Of 10% In Respect Of Letter Of Credit And Bank
Guarantee Facilities. (d)
Extent and operation of the charge Cash Credit To The Extent Of Rs. 10 Millions With Sub-Limit P/C,
FBP/BP/BD Of Rs. 2.500 Millions. Letter Of Credit To The Extent Of Rs. 10 Millions Bank Guarantee To The Extent Of Rs. 50 Millions. |
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Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Hypothecation Of Stock Viz. Raw Materials, Goods In Process, Finished
Goods And Consumables. Hypothecation Of Book Debts, Movable Machinery And Vehicles Of The Company. |
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Date of
instrument modifying the charge |
19.10.2004 |
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Particulars of
the present modification |
By This Modification Dated 14.8.10, The Cash Credit Facility Is
Reduced From 22.500 Millions To 10 Millions With Sub-Limit P/C, FBP/BP/BD Of
Rs. 2.500 Millions. The Letter Of Credit Facility Remains Same As 10 Millions
And The Bank Guarantee Is Increased From 20 Millions To 50 Millions On The Specific Condition
That The Increased Bank Guarantee Limit Is Secured By Extension Of Charge On
The Hypothecation Of Stock, Book Debts, Machinery And Vehicles. |
AS PER WEBSITE
DETAILS
COMPANY
PROFILE.
-: DEMECH group of companies started its operations in
1969 in Pune -
-: Starting the business from contracting and turn key
projects, the Group has since diversified and established in the field of
material handling, wear and abrasion resistant and cold welding products.
Exporters of Engineering Goods and Services and have won several
export Awards. Countries so far served
Sudan, Somalia , Ethiopia , Uganda , Kenya ,Zambia Zimbabwe , Saudi
Arabia , Shaharja , Italy , Taiwan , Thailand , Indonesia, Lybia, S.
Korea.
-: Manufactures of spirally
welded pipes with the additional facility of protective coating.
-: Manufacturers of Industrial Safety Shoes with own
modern leather tannery.
OVERSEAS REPRESENTATION
Ingenious Engineers Pty. Limited
Mrs. Jyoti Bhide
61, Johanson Promenade, Murdoch ,Perth WA 6150
Tel: 0061 – 80 9312 7041
Mobile: 0061- 402 664 252
Greenbank Terorech Pty. Limited
Mr. Mark Langbridge / Ms. Joanne Fordham
Tel: (02) 43896124
Mb: 04 – 07078252
Email: mlangbridge@halmel.com.au
web: www.halmel.com.au
Savcor PLS Pty. Limited
Mr. Peter Elliot
Tel: 61 – 7 – 3356 6333
Fax: 61 – 7 – 3356 6776
Mb: 61 – 414 – 727325
Email: elliot@savcor.com.au
Web: www.savcorpls.com.au
ITALY
Normicom S.R.I
Mr. Mauro Caprari
Tel: (39) 02 – 9504747
Fax (39) 02 – 9504775
Mb: 39 331 2998302
Email: info@normicom.it
m.caprari@normicom.it
Taiwan
Cheer Long Technology Corp.
Tel: (886) – 7 – 3898565
Email ID: trade@quinlink.com.tw
Glories Enterprises Co. Limited
Mr. Ricky Su
Tel: (886) 04 – 2706 0293, 2706 – 8788
Fax: (886) 04 – 2706 0347
Mb: (886) 9 – 1102 - 2222
Email: rickysu@codetech.com.tu
Email: chienwci.su@gmail.com
Top Prime Co. Limited
Mr. Jasper Wo / Dr. C. L. Chen
Tel: (886) 2 – 2752 – 0355
Fax: (886) 2 – 2721 – 9662
Email: topprime@ms11.hinet.net
topprime@seed.net.tw
THAILAND
Loyal Contract Limited
Mr. Santrek (Sant) Oulapathorn/
Mrs. Amara
Tel: +662 322 6340(16 Lines)
Email: loyalco@loyalcontract.com
Web: www.loyalcontract.com
Korea
DSU Global Corporation
Y. N. Lee
Tel : 82-55-314-9032, 9053
Fax: 82-55-314-9038
Mobile: 82-11-574-9030
E-mail: ynlee123@hanmail.net
S. K. International
Mr. H. J. DO
Tel: (82) 2 – 541 – 2638 / 544 – 4278
Fax: +662 321 3677
Mb: (82)– 11 – 7452637
Email ID: hllkmo@unitel.co.kr
VIETNAM
Ngoclinh Co. Limited
Mr. Nguyen Thanh Son /
Ms. Ngugen Quynh Hoa
Tel: (84) 4 – 831 - 1572
Fax: (84) 4 – 831 – 1573
Mb: (84) 90 – 340 – 5263
Email: nl.project@hn.vnn.vn / nguyenson-nl@hn.vnn.vn
Web: www.ngoclinh.com.vn
PHILIPPINES
Pertma Corporation
Tel: (632) 723 – 9382
Email: pertmacorp@pacific.com
KUWAIT
Al Muhaya Gen Trading and Cont. Company W.L.L
Mr. Sanjeev K. Sharma
Tel: (965) 2448024 / 2451858
Fax: (965) 2448023
Mb: (965) 7663264
Email: sanjeev@almuhaya.com
Info@almuhaya.com
Web: www.almuhaya.com
In India they have got representatives in all steel Power and Cement
Plants.
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.44.91 |
|
|
1 |
Rs.73.06 |
|
Euro |
1 |
Rs.64.03 |
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 |
6 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
52 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.