MIRA
INFORM REPORT
|
Report Date : |
04.11.2011 |
IDENTIFICATION DETAILS
|
Name : |
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Registered Office : |
78, Bhosari Industrial Area, Pune – 411026, |
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Country : |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
30.06.1968 |
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Com. Reg. No.: |
11-14309 |
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Capital
Investment / Paid-up Capital : |
Rs.9.830 Millions |
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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 and Industrial Safety Shoes. Manufacturer of |
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No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
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 1400000 |
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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.
INFORMATION DECLINED BY
|
Name : |
Mr. Mehta |
|
Designation : |
Finance Executive |
|
Report Date : |
02.11.2011 |
LOCATIONS
|
Registered Office / Head Office
: |
78, Bhosari 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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Factory 1 : |
Plot No. D-50,
MIDC, |
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Tel no.: |
91-2112-243280 / 309626 |
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Factory 2 : |
Industrial
Maintenance Chemicals T – 01 / T – 77 / T – 78, MIDC Industrial Area, Bhosari, Pune –
411026, Tel No. : Email : |
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Tel No.: |
91-20-27120714 / 30623131 / 30622509 |
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Fax No. : |
91-20-27111883 |
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Factory 3 : |
Industrial
Safety Shoes Demech House, 814 / B, |
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Tel no.: |
91-20-25654213 |
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E-Mail : |
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Branch 1 : |
3rd Floor, Dhiraj Chambers, 9, Haraimahal Somani Marg,
Mumbai – 400001, |
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Tel No.: |
91-22-22077926 / 22077927 |
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E-Mail : |
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Branch 2 : |
Flat No. 4, 7th Floor, A – Wing, Parsn Manere, 602, Mount Road,
Chennai – 600006, |
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Tel no. : |
91-44-28258415 / 28257829 |
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Fax No. : |
91-44-28252828 |
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E-Mail : |
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Branch 3 : |
F - 317, Sector - 1, |
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Tel No.: |
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New Marketing Offices : |
Located
at
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DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Kashinath Rajaram Natu |
|
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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DIN No.: |
00109868 |
Other Directorship
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U24119MH1968PTC014309 |
|
Managing
director |
30-06-69 |
30-06-69 |
- |
Active |
NO |
|
2 |
U45309MH1978PTC020599 |
Demech Overseas
Constructions Private Limited |
Director |
24-08-78 |
24-08-78 |
- |
Active |
NO |
|
3 |
U32109WB2007PTC120569 |
Unique Material
Handling Systems Private Limited |
Director |
23-11-07 |
23-11-07 |
- |
Active |
NO |
|
4 |
U29268PN2010PTC137822 |
Demech Esscano
Power India Private Limited |
Director |
24-11-10 |
24-11-10 |
- |
Active |
NO |
|
Name : |
Mrs. Bhagyashree Kashinath Natu
|
|
Designation : |
Director |
|
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 |
|
Date of Appointment : |
30.09.1998 |
|
DIN No.: |
00291294 |
Other Directorship
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U72200PN1998PTC012650 |
Calsoft Private
Limited |
Director |
29-06-98 |
29-06-98 |
- |
Active |
NO |
|
2 |
U24119MH1968PTC014309 |
|
Director |
30-09-98 |
30-09-98 |
- |
Active |
NO |
|
3 |
U72200PN2007PTC129690 |
Calsoft Systems
Private Limited |
Director |
27-02-07 |
27-02-07 |
- |
Active |
NO |
|
Name : |
Mr. Santosh Kumar Gupta |
|
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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DIN No.: |
00183735 |
Other Directorship
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U45203AP1979PLC057431 |
Tata Projects
Limited |
Director |
30-08-00 |
30-08-00 |
- |
Active |
NO |
|
2 |
U24119MH1968PTC014309 |
|
Director |
30-09-06 |
30-09-06 |
- |
Active |
NO |
|
Name : |
Mrs. Jyoti Digambar Bhide |
|
Designation : |
Director |
|
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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DIN No.: |
00861859 |
Other Directorship
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U25209PN1993PTC072134 |
Demech Chemical
Products Private Limited |
Director |
25-05-94 |
25-05-94 |
- |
Active |
NO |
|
2 |
U29150MH1975PTC018562 |
Demech Heavy
Equipments Private Limited |
Director |
26-09-94 |
26-09-94 |
- |
Strike off |
NO |
|
3 |
U24119MH1968PTC014309 |
|
Director |
14-09-07 |
14-09-07 |
- |
Active |
NO |
|
4 |
U29268PN2010PTC137822 |
Demech Esscano
Power India Private Limited |
Director |
24-11-10 |
24-11-10 |
- |
Active |
NO |
|
Name : |
Mr. Charusheela Pradeep Ranade |
|
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 |
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DIN No.: |
01556783 |
KEY EXECUTIVES
|
Name : |
Mr. Mehta |
|
Designation : |
Finance Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Kashinath Rajaram Natu |
20080 |
|
Prabha Kashinath Natu jointly with Bhagyashree K Natu |
3000 |
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Bhagyashree K Natu jointly with
Prabha Kashinath Natu |
9400 |
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Jyoti D Bhide jointly with Prabha Kashinath Natu JOINTLY WITH Mrs.
Rujuta A Natu |
6400 |
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Prabha Kashinath Natu jointly with Kashinath Rajaram Natu |
72640 |
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Kashinath Rajaram Natu jointly with Prabha Kashinath Natu |
227760 |
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Bhagyashree K Natu |
90000 |
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Rujuta A Natu jointly with Prabha Kashinath Natu |
74400 |
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Jyoti D Bhide jointly with Rujuta A Natu JOINTLY WITH Prabha Kashinath
Natu |
6440 |
|
Demech Overseas Construction Private Limited, |
392870 |
|
Demech Overseas Construction Private Limited, |
79996 |
|
Kashinath Rajaram Natu |
4 |
|
Total |
982990 |
Equity Share Break up as on 30.09.2011
|
Category |
Percentage |
|
Directors or relatives of directors |
52.00 |
|
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 and Industrial Safety Shoes. |
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Products : |
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GENERAL INFORMATION
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No. of Employees
: |
Information declined by the management. |
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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 : |
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PAN : |
AAAFC8309G |
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Subsidiary : |
Indus Marketing Limited |
CAPITAL STRUCTURE
After 30.09.2011
Authorised Capital : Rs.40.000 Millions
Issued Capital, Subscribed & Paid-up: Rs.19.660 Millions
As on 31.03.2011
Authorised Capital :
|
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 :
|
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:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
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
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
9.830 |
9.830 |
9.830 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
342.766 |
263.493 |
184.827 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
352.596 |
273.324 |
194.657 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
24.876 |
23.985 |
25.436 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
24.876 |
23.985 |
25.436 |
|
|
DEFERRED TAX LIABILITIES |
4.929 |
6.485 |
6.105 |
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|
|
|
|
|
|
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TOTAL |
382.401 |
303.793 |
226.198 |
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|
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APPLICATION OF FUNDS |
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|
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FIXED ASSETS [Net Block] |
90.557 |
87.158 |
74.668 |
|
|
Capital work-in-progress |
0.000 |
3.048 |
2.490 |
|
|
|
|
|
|
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|
INVESTMENT |
14.746 |
12.133 |
10.670 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.00 |
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
23.827
|
25.931
|
31.570
|
|
|
Sundry Debtors |
203.004
|
169.046
|
121.721
|
|
|
Cash & Bank Balances |
73.591
|
30.469
|
34.897
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
30.748
|
34.451
|
12.597
|
|
Total
Current Assets |
331.170
|
259.897
|
200.785
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
18.213
|
32.186
|
32.095
|
|
|
Current Liabilities |
28.847
|
16.549
|
15.675
|
|
|
Provisions |
7.012
|
9.708
|
14.645
|
|
Total
Current Liabilities |
54.072
|
58.443
|
62.415
|
|
|
Net Current Assets |
277.098
|
201.454
|
138.370
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
382.401 |
303.793 |
226.198 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
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SALES |
|
|
|
|
|
|
|
Income |
549.082 |
459.365 |
377.523 |
|
|
|
Other Income |
15.433 |
15.783 |
13.613 |
|
|
|
TOTAL |
564.515 |
475.148 |
391.136 |
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EXPENSES |
|
|
|
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|
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|
Office Expenses |
|
|
|
|
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|
Administrative Expenses |
469.501 |
384.435 |
352.126 |
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Advertising Expenses |
|
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|
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TOTAL |
469.501 |
384.435 |
352.126 |
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PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
|
|
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FINANCIAL
EXPENSES |
2.488 |
1.425 |
1.268 |
|
|
|
|
|
|
|
|
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DEPRECIATION/
AMORTISATION |
12.611 |
11.174 |
8.892 |
|
|
|
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|
SISTER COMPANY
‘S BALANCE |
0.000 |
0.003 |
0.029 |
|
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|
Provision For
Doubtful Debts |
0.000 |
0.000 |
1.405 |
|
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|
PROFIT BEFORE
TAX |
123.686 |
112.724 |
76.542 |
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PROVISION FOR
INCOME TAX |
43.250 |
36.000 |
27.000 |
|
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|
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PROVISION FOR
WEALTH TAX INCLUDING PREVIOUS YEAR |
0.033 |
0.000 |
0.000 |
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PROVISION FOR FRINGE
BENEFIT TAX |
0.000 |
0.000 |
0.240 |
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|
DEFERRED TAX
LIABILITY |
1.556 |
0.380 |
0.486 |
|
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|
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|
EXCESS INCOME
TAX PROVISION WRITTEN BACK |
1.540 |
0.946 |
0.000 |
|
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|
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PROFIT AFTER TAX
|
80.419 |
77.261 |
49.788 |
|
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|
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|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
8.553 |
4.886 |
5.098 |
|
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|
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|
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|
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|
LAST YEAR
RESERVE FOR DOUBTFUL DEBTS WRITTEN BACK
|
0.000 |
1.405 |
0.000 |
|
|
|
|
|
|
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|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
80.000 |
75.000 |
50.000 |
|
|
|
Dividend |
0.000 |
0.000 |
0.000 |
|
|
|
Tax on Dividend |
0.000 |
0.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
7.826 |
8.552 |
4.886 |
|
|
|
|
|
|
|
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|
EARNINGS IN FOREIGN
CURRENCY |
28.881 |
59.329 |
377.523 |
|
|
|
|
|
|
|
|
|
|
IMPORTS VALUE |
NA |
NA |
1.777 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
81.81 |
78.60 |
50.65 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
14.25 |
16.26
|
12.73
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
22.53 |
24.54
|
20.27
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
29.33 |
32.48
|
27.79
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.35 |
0.41
|
0.39
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.22 |
0.30
|
0.72
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
6.12 |
4.45
|
2.21
|
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITOR
DETAILS:
Rs
in Millions
|
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
|
|
Sundry Creditors – Micro, SSI and Medeum |
11.825
|
10.980
|
10.778
|
|
|
Sundry Creditors – others |
2.815
|
17.550
|
17.210
|
|
|
Expenses |
3.573 |
3.656 |
4.107 |
|
|
Total |
18.213
|
32.186
|
32.095
|
TURNOVER AND
PERFORMANCE:
Previous year
Performance:
During the year, the company made a turnover of Rs.549.082 Millions
including Export of Rs.28.881 Millions
Current Year
Performance:
In the months of April and up to 25th May 2011, the Company
has achieved sales turnover of RS. 35.826 Millions. Pending orders for Wear
Resist products are Rs.271.622 Millions and for Material Handling Equipments
are Rs.62.893 Millions. The Company excepts a turnover of around Rs.750.000
Millions during the year 2011-12
FORM 8:
|
Corporate
identity number of the company |
U24119MH1968PTC014309 |
|
Name of the
company |
|
|
Address of the
registered office or of the principal place of business in |
78, Bhosri Industrial Area, Pune – 411026, E-Mail : accounts@demechindia.com |
|
This form is for |
Modification of charge |
|
Charge identification
(ID) number of the charge to be modified |
80060978 |
|
Type of charge |
Book debts Floating charge Others (Stock, Movable Machinery, vehicles.) |
|
Particular of
charge holder |
Bank Of E- Mail : rm.pune@bankofbaroda.com |
|
Nature of
instrument creating charge |
Suuplemental
Composite Instrument of Hypothecation of Goods, Book Debts, Movable Machinery
and Vehicles dated 14th August 2010. |
|
Date of
instrument Creating the charge |
14.08.2010 |
|
Amount secured by
the charge |
Rs.70.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest 1% Above the BPLR
i.e. 13.50% at present with monthly rests. Terms of repayment On Demand Margin 25% of stock and
book debts and cash margin of 10% in respect of letter of credit and bank
guarantee facilities. Extent and operation of the charge Cash Credit To
The Extent Of Rs.10.000 Millions With Sub-Limit P/C, FBP/BP/BD of Rs.2.500
Millions. Letter of Credit
to the extent of Rs.10.000 Millions Bank Guarantee to
the extent of Rs.50.000 Millions. |
|
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. |
|
Date of instrument
modifying the charge |
19.10.2004 |
|
Particulars of
the present modification |
By this
modification dated 14.8.10, the cash credit facility is reduced from
Rs.22.500 Millions to Rs.10.000 Millions with sub-limit P/C, FBP/BP/BD of
Rs.2.500 Millions. The letter of credit facility remains same as Rs.10.000
millions and the bank guarantee is increased from Rs.20.000 Millions to Rs.50.000 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. |
FIXED ASSETS:
- Land Freehold
- Land
Leasehold
- Building
(Office and Factory)
- Temporary
Shed
- Plant and
Machinery
- Electrical
Installation
- Office
Equipment
- Furniture and
Fixture
- Computer
- Vehicle
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.49.37 |
|
|
1 |
Rs.78.50 |
|
Euro |
1 |
Rs.67.59 |
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 |
YES |
|
--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 |
|
- |
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.