MIRA
INFORM REPORT
|
Report Date : |
11.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
V. K. INDUSTRIAL CORPORATION LIMITED |
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|
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Registered
Office : |
303/304, Loha Bhavan, 3rd Floor, Carnac Bunder, 93, |
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Country : |
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|
|
|
Financials (as
on) : |
31.03.2011 |
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|
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Date of
Incorporation : |
16.11.2004 |
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|
|
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Com. Reg. No.: |
11-149538 |
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|
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Capital Investment
/ Paid-up Capital : |
Rs.45.900
Millions |
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|
|
|
CIN No.: [Company Identification
No.] |
U27100MH2004PLC149538 |
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|
|
|
IEC No. : |
0304068616 |
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|
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TAN No.: [Tax Deduction &
Collection Account No.] |
AABCV9515F |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Importer, Exporter and Stockiest of Special Quality Steel
Plates. |
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No. of Employees
: |
25 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 5500000 |
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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 company having good track. The company
has recorded a better increase in its sales turnover and profitability during
the year. Financial position of the company appears to be sound. Trade relations are reported as decent. Business is active. Payments
are reported to be regular and as per commitments. The company can be considered good 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 PARTED BY
|
Name : |
Mr. Virendra Mehta |
|
Designation : |
Director |
|
Contact No.: |
91-9821022386 |
|
Date : |
10.07.2012 |
LOCATIONS
|
Registered Office : |
303/304, Loha Bhavan, 3rd Floor, Carnac Bunder, 93, P.
Demello Road, Mumbai – 400009, Maharashtra, India |
|
Tel. No.: |
91-22-66333330 |
|
Mobile No.: |
91-9821022386 (Mr. Virendra Mehta) 91-9960954725 (Mr. Alex) |
|
Fax No.: |
91-22-23484728 |
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E-Mail : |
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Website : |
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|
Area : |
600 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Branch Office : |
Office No. 1, 1st Floor, No.84 (Old No. 39), Muthumari
Street, Chennai – 600001, Tamilnadu, India |
|
Tel No. : |
91-44-25262263 |
|
Fax No. : |
91-44-42168783 |
|
E-Mail : |
|
|
Area : |
200 sq. ft. |
|
Location : |
Owned |
DIRECTORS
(AS ON 24.09.2011)
|
Name : |
Mr. Kakubhai Purshottamdas Mehta |
|
Designation : |
Chairman |
|
Address: |
401, Mnju Castle Building Church Road, Vile Parle (East), Mumbai –
400056, Maharashtra, India |
|
Date of Birth/Age : |
10.04.1935 |
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Qualification : |
Under Graduate |
|
Date of Appointment : |
02.09.2005 |
|
DIN No.: |
01648156 |
|
|
|
|
Name : |
Mr. Virendra Kakubhai Mehta |
|
Designation : |
Whole Time Director |
|
Address: |
401, Mnju Castle Building Church Road, Vile Parle (East), Mumbai –
400056, Maharashtra, India |
|
Date of Birth/Age : |
08.03.1968 |
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Qualification : |
H.S.C. |
|
Date of Appointment : |
01.10.2006 |
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DIN No.: |
00326929 |
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|
|
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Name : |
Mrs. Kairavi Virendra Mehta |
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Designation : |
Additional Director |
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Address: |
Plot No.80, Hatkesh CHS Limited, 7th Floor, 9th Road,
J V P D Scheme, N. S. Road, Vile Parle (West), Mumbai – 400056, Maharashtra,
India |
|
Date of Birth/Age : |
15.05.1994 |
|
Date of Appointment : |
12.06.2012 |
|
DIN No.: |
05298092 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.09.2011)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Kakubhai Purshottamdas Mehta |
|
133000 |
|
Deepak Kakubhai Mehta |
|
1734750 |
|
Virendra Kakubhai Mehta |
|
1734750 |
|
Vasumati Kakubhai Mehta |
|
2500 |
|
Urvi Deepak Mehta |
|
1200 |
|
Darshana Virendra Mehta |
|
1200 |
|
Parul Vipul Doshi |
|
50 |
|
Charu Kirit Doshi |
|
50 |
|
Kakubhai P Mehta (HUF) |
|
732500 |
|
Binaca Traders and Services Private Limited ( |
|
42500 |
|
Kush Hindustan Entertainment Limited ( |
|
23750 |
|
Sundaram InfoTech ( |
|
82500 |
|
TSV Merchantile Private Limited ( |
|
37500 |
|
Viren Diamond Export Limited ( |
|
25000 |
|
Young and Crow Marketing (India) Private Limited, Mumbai, India |
|
38750 |
|
|
|
|
|
Total |
|
4590000 |
(AS ON 30.09.2011)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
5.45 |
|
Directors or relatives of directors |
|
94.55 |
|
|
|
|
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Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Importer, Exporter and Stockiest of Special Quality Steel
Plates. |
|
|
|
|
Products : |
Ø
Hot Rolled Coils Ø
Boller/ PVQ Plates Ø
High Tensile Plates Ø
Structural Plates Ø
Ship Building Plates Ø
Oil and Gas Line Plate Ø
Alloy Steel Plates Ø
Plate Sizes and Grade Ø
Equivalent Table Ø
Weight Calculation |
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Exports : |
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Products : |
Steel Product |
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Countries : |
Africa |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
· Russia · China · UK · Europe |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
· Dafar Company Limited |
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Customers : |
End Users · Diamond Engineering Chennai (Private) Limited |
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No. of Employees : |
25 (Approximately) |
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Bankers : |
Ø
Canara Bank, Prime Corporate Branch II, Varma Chambers, 2nd Floor, Homji
Street, Mumbai -400001, Maharashtra, India. Ø
IDBI Bank, Mumbai Ø
HDFC Bank Ø
Bank of Baroda, Fort, Mumbai, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
Prashant Wakhariya and Company Chartered Accountant |
|
Address : |
B-1, Saadichha Apartment, Ground Floor, Rokadia Lane, Borivali (West),
Mumbai – 400092, Maharashtra, India. |
|
Tel. No.: |
91-22-28922369 |
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Mobile No.: |
91-9324657162 |
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Fax No. : |
91-22-22937350 |
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E-Mail : |
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PAN No.: |
AAFPW9479G |
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Associates/Subsidiaries : |
D M Sons Metals Private Limited |
CAPITAL STRUCTURE
(AS ON 24.09.2011)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Share |
Rs.10/- each |
Rs.50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4590000 |
Equity Share |
Rs.10/- each |
Rs.45.900
Millions |
|
|
|
|
|
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 |
45.900 |
45.900 |
45.900 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1321.264 |
931.986 |
717.302 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1367.164 |
977.886 |
763.202 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
41.436 |
249.792 |
103.883 |
|
|
2] Unsecured Loans |
35.849 |
21.875 |
19.607 |
|
|
TOTAL BORROWING |
77.285 |
271.667 |
123.490 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1444.449 |
1249.553 |
886.692 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
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FIXED ASSETS [Net Block] |
50.388 |
8.508 |
4.317 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.002 |
0.001 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
665.270
|
688.107
|
405.484
|
|
|
Sundry Debtors |
1574.118
|
892.442
|
629.181
|
|
|
Cash & Bank Balances |
48.526
|
58.688
|
4.856
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
713.580
|
640.929
|
371.687
|
|
Total
Current Assets |
3001.494
|
2280.166
|
1411.208 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
1368.407
|
872.061
|
469.413
|
|
|
Other Current Liabilities |
3.186
|
47.998
|
48.575
|
|
|
Provisions |
235.842
|
119.063
|
10.845
|
|
Total
Current Liabilities |
1607.435
|
1039.122
|
528.833 |
|
|
Net Current Assets |
1394.059
|
1241.044
|
882.375 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1444.449 |
1249.553 |
886.692 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
7123.136 |
4836.384 |
4247.961 |
|
|
|
Other Income |
22.989 |
73.800 |
27.143 |
|
|
|
TOTAL (A) |
7146.125 |
4910.184 |
4275.104 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption Materials Changes Inventories |
5485.680 |
3850.290 |
|
|
|
|
Manufacturing Services Cot |
878.561 |
624.689 |
|
|
|
|
Employee related Expenses |
1.753 |
1.368 |
4200.322 |
|
|
|
Administrative, Selling and Other Expenses |
104.277 |
55.595 |
|
|
|
|
TOTAL (B) |
6470.271 |
4531.942 |
4200.322 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
675.854 |
378.242 |
74.782 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
74.942 |
53.888 |
61.977 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
600.912 |
324.354 |
12.805 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2.000 |
1.280 |
1.062 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
598.912 |
323.074 |
11.743 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
208.937 |
108.647 |
3.745 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
389.975 |
214.427 |
7.998 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
786.189 |
571.762 |
563.764 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
1176.861 |
786.189 |
571.762 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
7.024 |
44.836 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
84.96 |
46.72 |
1.74 |
|
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
8000.000 |
|
|
|
|
|
Expected Sales (2012-13): Rs.10000.000 Millions
The above information has been parted by Mr. Virendra Mehta.
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
5.46
|
4.37
|
0.19
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.41
|
6.68
|
0.28
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
19.62
|
14.12
|
0.83
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.44
|
0.33
|
0.02
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.23
|
1.34
|
0.85
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.87
|
2.19
|
2.67
|
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2011 (Rs. In Millions) |
|
|
|
|
Sundry Creditors - Creditors Due others |
1368.407 |
|
|
|
|
Total |
1368.407 |
|
Particulars |
31.03.2010 |
31.03.2009 |
|
|
(Rs. In Millions) |
|
|
|
|
|
|
Trade and other Creditors |
|
|
|
Import Creditors |
422.501 |
427.922 |
|
Local Creditors |
417.702 |
26.368 |
|
OMS Creditors |
0.000 |
0.000 |
|
Others |
0.000 |
0.000 |
|
Trade Creditors – Chennai |
0.105 |
0.105 |
|
Trade and Other Creditors - Bhilai |
0.000 |
0.000 |
|
Creditors for expenses |
28.789 |
13.847 |
|
Creditors for brokerage and commission |
2.899 |
1.171 |
|
Creditors for fixed assets |
0.065 |
0.000 |
|
|
|
|
|
Total |
872.061 |
469.413 |
|
Check list by info Agents
|
Available in Report (Yes/ No) |
|
|
|
|
Year of Establishment |
Yes |
|
Locality of the Firm |
Yes |
|
Constitution of the Firm |
Yes |
|
Premises details |
Yes |
|
Type of Business |
Yes |
|
Line of Business |
Yes |
|
Promoter’s Background |
Yes |
|
No. of Employees |
Yes |
|
Name of Person Contacted |
Yes |
|
Designation of Contact person |
Yes |
|
Turnover of Firm for last three years |
Yes |
|
Profitability for last three years |
Yes |
|
Reasons for variation <> 20% |
----- |
|
Estimation for coming financial year |
Yes |
|
Capital in the business |
Yes |
|
Details of sister concerns |
Yes |
|
Major Suppliers |
Yes |
|
Major Customers |
Yes |
|
Payments Terms |
Yes |
|
Export/ Imports Details (If applicable) |
Yes |
|
Market Information |
----- |
|
Litigations that the firm/ Promoters Involved in |
----- |
|
Banking details |
Yes |
|
Banking Facility Details |
Yes |
|
Conduct of the Banking Account |
----- |
|
Buyer visit details |
----- |
|
Financials, if provided |
Yes |
|
Incorporation details is applicable |
Yes |
|
Last Accounts filed at ROC |
Yes |
|
Major Shareholders, if available |
Yes |
OPERATIONS:
The company's performance
improved during the financial year. The turnover was higher from Rs.4905.100
Millions to Rs.7146.100 Millions. Net Profit is higher from Rs.211.900 Million
to Rs.598.700 Millions. The company's focus continues to be on increasing
volumes and turnover.
TRADE REFERENCE:
· Diamond Engineering Chennai (Private) Limited
· Dafar Company Limited
FORM 8:
|
Corporate
identity number of the company |
U27100MH2004PLC149538 |
|
Name of the
company |
V. K. INDUSTRIAL
CORPORATION LIMITED |
|
Address of the
registered office or of the principal place of business in |
303/304 Loha Bhavan, 3rd Floor, 93, P.D. Mello Road, Carnac
Bunder, Mumbai - 400009, Maharashtra, India |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
80001982 |
|
Type of charge |
Immovable
property Book debts Movable property
(not being pledge) Others: Stock, Good
procured under DALC etc. |
|
Particular of
charge holder |
Canara Bank, Prime Corporate
Branch II, Varma Chambers, 2nd Floor, Homji Street, Fort, Mumbai – 400001,
Maharashtra, India |
|
Nature of
instrument creating charge |
Simple Mortgage
Deed (SMD) dated 02.11.2010 |
|
Date of
instrument Creating the charge |
02/11/2010 |
|
Amount secured by
the charge |
Rs.2100.000
Millions |
|
Brief of the principal
terms and conditions and extent and operation of the charge |
Rate of interest As per sanction
letter issued by respective bank Terms of repayment As per sanction
letter issued by respective bank Margin As per sanction letter
issued by respective bank Extent and operation of the charge Credit facilities
aggregating to Rs.2100.000 millions granted by Canara Bank Consortium
consisting of (CB Rs.1732.500 millions and BOB Rs.367.500 millions) further
secured by way of Simple Mortgage on immovable Property viz. piece and parcel of land adm. about 3025
sq. mts. out of the land bearing Plot Nos. SW-3/1 to SW-3/7 in Sakri
Industrial Area, Village Brahmanwel, Dhule, Maharashtra |
|
Short particulars
of the property charged (Including location of the property) |
1st charge on all
present and future stocks of RM/ Steel products and Trading goods, SIP, SFG,
FG, S and S etc. lying at Companies premises and godowns at Navi Mumbai and
Chennai or elsewhere or in transit 1st charge on all present and future Book
debts, outstanding money receivables, claims, bills and other movables due
and owing to the Company during the course of its business. Simple mortgage
on 1st pari passu charge basis on immovable Prop. viz. piece and parcel of land
adm. about 3025 sq. mts. out of land bearing Plot Nos. SW-3/1 to SW-3/7 in
Sakri Indutrial Area, Vill. Brahmanwel |
|
Date of
instrument modifying the charge |
06/02/2010 |
|
Particulars of
the present modification |
Now vide this modification,
Credit facilities aggregating to Rs.2100.000 millions. granted by Canara Bank
Consortium consisting of (CB Rs.1732.500 millions and BOB Rs.367.500
millions) further secured by way of Simple Mortgage on immovable Property
viz. piece and parcel of land adm.
about 3025 sq. mts. out of the land bearing Plot Nos. SW-3/1 to SW-3/7 in
Sakri Industrial Area, Village Brahmanwel, Dhule, Maharashtra |
FIXED ASSETS:
Ø
Air Condition
Ø
CCTV Camara System
Ø
Computer
Ø
Cutting Machine
Ø
Cycle
Ø
Electrical Equipment
Ø
EPABX System – Telephone
Ø
Fax Machine
Ø
Furniture
Ø
Mobile Phone
Ø
Office Equipments
Ø
Motor Car / Motor Cycle
Ø
Television
Ø
Xerox Machine
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.56.02 |
|
|
1 |
Rs.86.78 |
|
Euro |
1 |
Rs.68.83 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
7 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
54 |
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.