MIRA
INFORM REPORT
|
Report Date : |
03.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
TRANSPARENT ENERGY SYSTEMS PRIVATE LIMITED (w.e.f.18.12.1995) |
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|
|
|
Formerly Known
As : |
VAPOR ENERGY MACHINES PRIVATE LIMITED |
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Registered Office
: |
Pushpa Heights, 1st Floor, Bibwewadi Corner, Satara Road,
Pune-411037, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
16.04.1986 |
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Com. Reg. No.: |
11-039582 |
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Capital
Investment / Paid-up Capital : |
Rs. 190.132 millions |
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|
|
|
CIN No.: [Company Identification
No.] |
U29198PN1986PTC039582 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNET04298A |
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PAN No.: [Permanent Account No.] |
AAACT6841P |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in manufacturing of Boiler, Thermic Fluid Heaters,
Economisers, etc. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 800000 |
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|
Status : |
Moderate |
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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. The company
has incurred some losses in the current year. 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
cautions. |
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 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
|
Registered Office : |
Pushpa Heights, 1st Floor, Bibwewadi Corner, Satara Road,
Pune-411037, Maharashtra, India |
|
Tel. No.: |
91-20-24211347 / 24215665 / 24212390 |
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Fax No.: |
91-20-24212533 |
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E-Mail : |
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Website : |
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Branch Office : |
2, Jaigandha Annexe, Ground Floor, Ram Maruti Road, Opposite Dr. Paranjape
Hospital, Thane-400602, Maharashtra, India |
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Tel. No.: |
91-22-25362881 |
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Fax No.: |
91-22-25336164 |
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E-Mail : |
DIRECTORS
AS ON 06.09.2010
|
Name : |
Mr. Ashok Dattatray Atre |
|
Designation : |
Director |
|
Address : |
Flat No.3-4, Amey Apartments, Apte Road, Shivaji Nagar, Pune-411004,
Maharashtra, India |
|
Date of Birth/Age : |
16.06.1957 |
|
Date of Appointment : |
16.04.1986 |
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DIN No : |
00209577 |
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Name : |
Ms. Meghana Ashok Atre |
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Designation : |
Whole Time Director |
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Address : |
Flat No.3-4, Amey Apartments, Apte Road, Shivaji Nagar, Pune-411004, Maharashtra,
India |
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Date of Birth/Age : |
29.05.1960 |
|
Date of Appointment : |
03.09.1999 |
|
DIN No : |
00209635 |
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|
|
|
Name : |
Mr. Sudhir Laxman Kasture |
|
Designation : |
Whole Time Director |
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Address : |
Flat No.5, Plot No.15, S. No.125/1/B, Krishnavel Apartments, Girija
Housing Society, Mit Road, Pune-411038, Maharashtra, India |
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Date of Birth/Age : |
16.04.1954 |
|
Date of Appointment : |
22.02.2000 |
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DIN No : |
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Name : |
Mr. Yogesh Vishwanath Abhyankar |
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Designation : |
Director |
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Address : |
Ameya Apartment, Flat No.2, Rambag Colony Navi Peth, Pune-411030,
Maharashtra, India |
|
Date of Birth/Age : |
05.01.1956 |
|
Date of Appointment : |
22.02.2000 |
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DIN No : |
00044402 |
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|
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|
Name : |
Mr. Bhalchandra Gajanan Kulkarni |
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Designation : |
Managing Director |
|
Address : |
S. No.681, 1B/2/3/1, B-15, Soba Savera Apartments, Bibwewadi,
Pune-411037, Maharashtra, India |
|
Date of Birth/Age : |
29.06.1970 |
|
Date of Appointment : |
30.04.2005 |
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DIN No : |
00209692 |
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Name : |
Mr. Ajit Ulhas Apte |
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Designation : |
Director |
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Address : |
A-46, Mohite Township, Anand Nagar, Sinhagad Road, Hingane Khurd,
Pune-411051, Maharashtra, India |
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Date of Birth/Age : |
21.06.1968 |
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Date of Appointment : |
12.12.2006 |
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DIN No : |
00919071 |
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Name : |
Mr. Chintamani Shridhar Vaidya |
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Designation : |
Director |
|
Address : |
590, New Shaniwar Peth, Pune-411030, Maharashtra, India |
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Date of Birth/Age : |
27.09.1969 |
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Date of Appointment : |
01.04.2007 |
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DIN No : |
01567409 |
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Name : |
Mr. Shamkant Babaji Bhor |
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Designation : |
Director |
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Address : |
A-7, Ramnagar Housing complex, Gavhane Wasti, s No.68/2, Bhosari, Pune-411018,
Maharashtra, India |
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Date of Birth/Age : |
21.10.1972 |
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Date of Appointment : |
01.04.2007 |
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DIN No : |
01661682 |
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Name : |
Mr. Arun Govind Palkar |
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Designation : |
Director |
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Address : |
5/125, Navnit, Ram Maruti Road, Dadar, Mumbai-400028, Maharashtra,
India |
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Date of Birth/Age : |
29.03.1954 |
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Date of Appointment : |
18.09.2008 |
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DIN No : |
00016003 |
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|
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|
Name : |
Mr. Haridas Narayan Wadghule |
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Designation : |
Whole Time Director |
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Address : |
FL-704, Building A-1, Shivsagar City, Phase-1, SN-17, Wadgaon BK,
Pune-411041, Maharashtra, India |
|
Date of Appointment : |
04.08.2010 |
|
DIN No : |
03187700 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 06.09.2010
|
Names of Shareholders |
No. of Shares |
|
Ashok Dattatray Atre |
4008989 |
|
Meghana Ashok Atre |
48210 |
|
Sudhir Laxman Kasture |
25000 |
|
Bhalchandra Gajanan Kulkarni |
10750 |
|
Haridas Narayan Wadghule |
5750 |
|
Shrirang Anant Dani |
5100 |
|
Pankaj Manohar Raj |
5000 |
|
Shamkant Babaji Bhor |
3500 |
|
Ajit Ulhas Apte |
10750 |
|
Chintamani Sridhar Vaidya |
7750 |
|
Yogesh Vishwanath Abhyankar |
360000 |
|
Karandikar Waman Dattatray J/W Karandikar Dattatray Ujwala |
500 |
|
Karandikar Dattatray Ujwala J/W Karandikar Waman Dattatray |
500 |
|
Sanjay Sharad Bhoraskar J/W Nanda Sanjay Bhoraskar |
5000 |
|
Balkrishna Murlidhar Sabnis J/W Sulbha Balkrishna Sabnis |
1500 |
|
Surendra Raghunath Potnis J/W Sudha Surendra Potnis |
500 |
AS ON 06.09.2010
|
Category |
Percentage |
|
Directors or relatives of Directors |
90.46 |
|
Other top fifty shareholders |
9.54 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in manufacturing of Boiler, Thermic Fluid Heaters,
Economisers, etc. |
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Products : |
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GENERAL INFORMATION
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Bankers : |
·
State Bank of India, Commercial Branch, 1548-A,
Sadashiv Peth, Pune-411030, Maharashtra, India |
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Facilities : |
Notes: 1)
Cash credit from State Bank of India secured against
hypothecation of Stock in Trade and Book Debts and against personal guarantee
of Mr. Ashok D Atre. 2)
Loans from following banks secured against
hypothecation of vehicles, machinery etc.
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Banking
Relations : |
-- |
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Financial Institution : |
The Maharashtra State Finacial Corporation, New Excelsior Building, 7th,
8th, and 9th Floors, Amrut Keshav Nayak Marg,
Mumbai-400001, Maharashtra, India |
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Auditors : |
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Name : |
B L Phatak and Company Chartered Accountant |
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Address : |
1, Jay Apartment, Sunderrao Rege Marg, 64/3, Erandawne, 14th
Lane, Prabhat Road, Pune-411004, Maharashtra, India |
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Subsidiaries : |
Ecosustain Energy Systems Private Limited CIN No.: U29305PN2006PTC129024 |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
540000000 |
Equity Shares |
Rs.10/- each |
Rs. 54.000 Millions |
|
1236900 |
5% Fully Convertible Cumulative Preference Shares |
Rs. 113/- each |
Rs. 139.770 Millions |
|
623030 |
Unclassified Shares |
Rs. 10/- each |
Rs. 6.230 Millions |
|
|
Total |
|
Rs. 200.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5036200 |
Equity Shares |
Rs.10/- each |
Rs. 50.362
Millions |
|
1236900 |
5% Fully Convertible Cumulative Preference Shares |
Rs. 113/- each |
Rs. 139.770 Millions |
|
|
Total |
|
Rs. 190.132
millions |
Notes:
1) Of 5036200 Equity Shares 4028880 Equity Shares of Rs. 10 each fully paid
are issued Bonus Equity Shares.
2) The 1236900, 5% Fully convertible Cumulative Preference Shares of Rs. 113/-
fully paid are issued and allotted to M/s Siemens Venture Capital GmbH, Germany
on 01st June 2009.
3) In accordance with the subscription Agreement entered into Siemens
Venture Capital GmbH, Germany, each of the aforesaid Preference Share is
compulsorily convertible into one Fully paid Equity Shares of Rs. 10/- each at
a price of Rs. 113/- at premium of Rs. 103/-per share fully paid up at the end
of 6 years from the date of allotment i.e. 31.05.2015 at the time of Initial
Public Offer whichever is earlier.
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 |
190.132 |
50.361 |
50.361 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
11.848 |
44.163 |
26.539 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
201.980 |
94.524 |
76.900 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
97.656 |
45.101 |
81.714 |
|
|
2] Unsecured Loans |
3.864 |
11.340 |
14.745 |
|
|
TOTAL BORROWING |
101.520 |
56.441 |
96.459 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
303.500 |
150.965 |
173.359 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
113.395 |
74.136 |
70.000 |
|
|
Capital work-in-progress |
11.101 |
5.470 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
4.100 |
4.100 |
3.813 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
112.975
|
143.043 |
99.545 |
|
|
Sundry Debtors |
84.928
|
60.077 |
63.448 |
|
|
Cash & Bank Balances |
32.135
|
46.972 |
35.217 |
|
|
Other Current Assets |
33.516
|
0.000 |
0.000 |
|
|
Loans & Advances |
69.324
|
59.276 |
38.053 |
|
Total
Current Assets |
332.878
|
309.368 |
236.263 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
122.794
|
199.347 |
115.601 |
|
|
Other Current Liabilities |
0.000
|
0.000 |
0.000 |
|
|
Provisions |
39.677
|
43.162 |
21.330 |
|
Total
Current Liabilities |
162.471
|
242.509 |
136.931 |
|
|
Net Current Assets |
170.407
|
66.859 |
99.332 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.214 |
|
|
PRELIMINARY EXPENSES |
4.497 |
0.400 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
303.500 |
150.965 |
173.359 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
423.944 |
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
437.068 |
423.944 |
264.847 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
377.445 |
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
451.388 |
377.445 |
239.508 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(14.320) |
46.499 |
25.339 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
7.348 |
12.257 |
10.590 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(21.668) |
34.242 |
14.749 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
10.472 |
7.879 |
7.614 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX
(E-F) (G) |
(32.140) |
26.363 |
7.135 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
0.185 |
8.739 |
2.595 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
(32.325) |
17.624 |
4.540 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
35.109 |
17.785 |
36.734 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
0.300 |
0.300 |
|
|
|
Transfer to Equity Share Capital |
0.000 |
0.000 |
23.189 |
|
|
BALANCE CARRIED
TO THE B/S |
2.784 |
35.109 |
17.785 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
53.071 |
106.853 |
2.770 |
|
|
TOTAL EARNINGS |
53.071 |
106.853 |
2.770 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
28.429 |
23.620 |
18.524 |
|
|
TOTAL IMPORTS |
28.429 |
23.620 |
18.524 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(6.42) |
3.50 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
(7.40)
|
4.16 |
1.71 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(7.35)
|
6.22 |
2.69 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(7.20)
|
6.87 |
2.33 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.16)
|
0.28 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.32
|
3.16 |
3.03 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.05
|
1.28 |
1.72 |
LOCAL AGENCY FURTHER INFORMATION
REVIEW OF
OPERATIONS AND OUTLOOK
The company has achieved a sales turnover of Rs. 437.068 millions for
the year ended 31st March 2010 and has incurred a loss of Rs. 32.141
millions after considering interest of Rs. 7.348 millions and Depreciation of
Rs. 10.472 millions. The last year has been a very difficult period for the
company. As shareholders would be aware the global economy slipped into one of
the worst recessions experienced after the depression of 1930s.
This was essentially triggered by the sub-prime lending crisis in the US
market which reverberated in markets across Europe and Asia. Most economies
demonstrated negative growth, as a result of which capital expenditure was put
on hold by almost the entire industrial community. Most countries took measures
to pump economies did not just to ensure that consumer demand remained robust
and that their individual economies did not slip into contraction.
In view of this situation, the performance of the company was adversely
affected. As the order flow had considerably showed down, the company had to
pursule lower margin business. This is reflected in the results of the company.
The important aspect however, which is a positive, is that the company had not
lost any business in cement heat recovery, which is currently the main driver
of the business.
Post March 2010 there is distinct vibrancy that has returned in the
global business environment which is now reflected in the current order
position of the company exceeding Rs. 1000.000 millions for the first time in
the history of the Company.
The company has a top-class and well established product line coupled
with absolute commitment to quality with the global attention seriously turning
towards climate change energy efficiency and environment issues, the company is
well posited for a robust performance in the coming year.
FORM 8
|
Corporate identity
number of the company |
U29198PN1986PTC039582 |
|
Name of the
company |
TRANSPARENT
ENERGY SYSTEMS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Pushpa Heights, 1st Floor, Bibwewadi Corner, Satara Road,
Pune-411037, Maharashtra, India |
|
This form is for |
Modification of charge |
|
Type of charge |
Immovable property Book debts Movable property (not being pledge) |
|
Particular of
charge holder |
State Bank of India, Commercial Branch, 1548-A, Sadashiv Peth,
Pune-411030, Maharashtra, India |
|
Nature of
instrument creating charge |
1.
Sanction Letter (No. CBPN/CR/10-11/1265) dated 11th December, 2010. 2.Revival
Letter 3.
Supplemental Agreement of Hypothecation of Goods and Assets for increase in
overall limits. 4.
Supplemental Agreement of Loan for Increase in the overall limit. 5.
Letter regarding the grant of individual limits within the overall limit. 6.
Agreement-cum-Indemnity |
|
Date of instrument
Creating the charge |
12.01.2011 |
|
Amount secured by
the charge |
Rs. 1107.100 millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Terms of
repayment Demand
Cash Credit - 12 months, EBD Limit - period of sanction - 12 months, Letters
of credit - period of sanction -12 months, Bank Guarantee - period of
sanction - 12 months, Term Loan - The entire term loan will be repaid in 60
monthly installments, commencing from April, 2011. Extent and
operation of the charge Extension
of Hypothecation and mortgage to cover the total limit of Rs. 1107.100
millions. |
|
Charge
identification number of the charge to be modified |
10029558 |
|
Date of instrument
modifying the charge |
08.04.2010 |
|
Particulars of
the present modification |
By
this present modification, the total credit facility stands enhanced to Rs.
1107.100 millions by increase in CC limit - Rs. 50.000 millions, EPC-Rs.
(Rs.70.000 millions), EBD -(Rs. 70.000 millions), SLOC - Rs.22.500 millions,
Term Loan -Rs. 110.000 millions, L/C - (Rs. 100.000 millions), Bank Guarantee
-Rs. 250.000 millions, a fresh limit of Forward Contract Booking - Rs. 1.000
millions and the security by way of mortgage and hypothecation of assets is
extended to the enhanced credit facility |
FIXED ASSETS
·
Land
·
Building
·
Plant and Machinery
·
Research and Developments
Assets
·
Electrical Installation
·
Factory Equipments
·
Pattern and Fixtures
·
Industrial Gas Cylinders
·
Vehicles
·
Furniture and Fittings
·
Technical Books and
Software’s
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. 44.22 |
|
|
1 |
Rs. 72.09 |
|
Euro |
1 |
Rs. 62.98 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
2 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
28 |
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.