|
Report Date : |
12.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
JSW SEVERFIELD STRUCTURES LIMITED |
|
|
|
|
Registered
Office : |
302, Naman Centre, Plot No. C-31, G-Block, Bandra Kurla Complex,
Bharat Nagar, Mumbai – 400 051, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
19.03.2009 |
|
|
|
|
Com. Reg. No.: |
11-191045 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.762.846
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28112MH2009PLC191045 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMJ14280A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCJ4173D |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Steel Fabrication |
|
|
|
|
No. of Employees
: |
500 Approximately |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 2000000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a joint venture JSW Building System Limited, India and
Severfield – Rowen PLC of UK. It is an established company having moderate track. There appears some
accumulated losses recorded by the company. 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 caution.
|
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. Bharat Bhushan |
|
Designation : |
Senior Finance Manager |
|
Contact No.: |
91-22-67317000 |
|
Date : |
11.07.2012 |
LOCATIONS
|
Registered Office : |
302, Naman Centre, Plot No. C-31, G-Block, Bandra Kurla Complex,
Bharat Nagar, Mumbai – 400 051, |
|
Tel. No.: |
91-22-67317000 |
|
Fax No.: |
91-22-26512685 |
|
E-Mail : |
|
|
Website : |
http://www.jssl.in |
|
Location : |
Owned |
|
|
|
|
Factory: |
Near 10 MT Gate,
Beside Cement Plant II, P.O. Vidyanagar, Toranagallu, Sandur (Taluka)
District: |
DIRECTORS
(AS ON 28.06.2011)
|
Name : |
Mr. Derek Randall |
|
Designation : |
Director |
|
Address : |
9 Rydale Gardens, Bawtry, South Yorkshire DN106XL, United Kingdom |
|
Date of Birth/Age : |
16.06.1961 |
|
Qualification : |
MBA and Doctor in Business Administration |
|
Date of Appointment : |
19.03.2009 |
|
DIN No.: |
02433966 |
|
|
|
|
Name : |
Mr. Jayant Rabinranath Acharya |
|
Designation : |
Director |
|
Address : |
F-303, Great Eastern Garden LBS Marg, Kanjurmarg, Mumbai-400 078, |
|
Date of Birth/Age : |
25.01.1963 |
|
Qualification : |
BE (CHEMICAL), M. Sc. (Physics), MBA - Marketing |
|
Date of Appointment : |
19.03.2009 |
|
DIN No.: |
00106543 |
|
|
|
|
Name : |
Mr. Alaln Kenneth David Dunsmore |
|
Designation : |
Director |
|
Address : |
7, Grosvenor Terrace Yowk, United Kingdom YO307AG |
|
Date of Birth/Age : |
02.09.1969 |
|
Qualification : |
Chart Ered Accountant, Scotland |
|
Date of Appointment : |
18.02.2010 |
|
DIN No.: |
03020101 |
|
|
|
|
Name : |
Mr. Anshul Dewat Singhal |
|
Designation : |
Director |
|
Address : |
Flat No.102, Avanti Building, 19, Centrail Avenue, Santacruz (west),
Mumbai – 400050, Maharashtra, India |
|
Date of Birth/Age : |
29.01.1983 |
|
Date of Appointment : |
20.04.2011 |
|
DIN No.: |
00248543 |
|
|
|
|
Name : |
Mr. Craig Douglas Jones |
|
Designation : |
Director |
|
Address : |
401, Zakaria House, Almeida park Road, Behind Bhabha Hospital, Bandra,
Mumbai – 400050, Maharashtra, India |
|
Date of Birth/Age : |
07.09.1964 |
|
Date of Appointment : |
20.04.2011 |
|
DIN No.: |
03526157 |
KEY EXECUTIVES
|
Name : |
Mr. Bharat Bhushan |
|
Designation : |
Senior Finance Manager |
|
|
|
|
Name : |
Mr. Rajiv Jaysinh Negandhi |
|
Designation : |
Secretary |
|
Address : |
A-1205/1206, Shankar Park, Shankar Lane, Kandivali (West), Mumbai –
400067, Maharashtra, India |
|
Date of Birth/Age : |
05.10.1970 |
|
Date of Appointment : |
01.05.2009 |
|
PAN No.: |
AAGPW0609R |
|
|
|
|
Name : |
Mr. Anshul Singhal |
|
Designation : |
President – Commercial |
|
Qualification |
Bachelor of Science in Economics and Minor in Finance |
|
|
|
|
Name : |
Mr. Kenneth Gray |
|
Designation : |
VP – Projects |
|
Qualification |
HND B. Tech (Mech) |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 28.06.2011)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Jugal Kishore Brij |
|
10 |
|
Rajesh Haridas Asher |
|
10 |
|
Jayant Rabinranath Acharya |
|
10 |
|
Derek Randall, |
|
10 |
|
Allinson William Michael |
|
10 |
|
Severfield Rowen Mauritius Limited, Port Louis Mauritius |
|
38142270 |
|
JSW Steels Limited, |
|
38142270 |
|
Alaln Kenneth David Dunsmore |
|
10 |
|
|
|
|
|
Total |
|
76284600 |
(AS ON 30.09.2011)
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
Corporate (Not Mentioned above) |
|
100.00 |
|
|
|
|
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Steel Fabrication |
|
|
|
|
Imports : |
|
|
Products : |
·
Steel |
|
Countries : |
·
Europe ·
UK ·
USA ·
Japan |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit of consumption per MT of Production |
|
|
|
|
Electricity (KWH) |
147 |
|
Diesel (Litre) |
53 |
|
|
|
GENERAL INFORMATION
|
No. of Employees : |
500 Approximately |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
· Axis Bank Limited,Credit Management Centre, Unit 6, Corporation Park, Sion Trombay Road, Chembur, Mumbai-400 071, Maharashtra, India · Axis Bank Limited, Bandra (West), Mumbai, Maharashtra, India · ICICI Bank Limited, ICICI Bank Towers, Regional Office, Shobha Pearl 1, Commissiariat Road, Bengaluru – 560001, Karnataka, India · IDBI Bank, Cuffe Parade, Mumbai, Maharashtra, India |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
(Rs. In Millions)
|
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
12, |
|
Tel. No.: |
91-22-66679000 |
|
Fax No.: |
91-22-66679100 |
|
|
|
|
Holding Company/ Joint Ventures : |
·
JSW Steels Limited, L27102MH1994PLC152925 ·
Severfield Rowen Mauritius Limited, Port Louis |
|
|
|
|
Subsidiaries : |
· JSW Structural Metal Decking Limited CIN No. U28112MH2009PLC197954 |
|
|
|
|
Enterprises over which the investing party or
venture in respect of which the reporting enterprise is a joint venture
exercise significant influence. |
·
JSW Building Systems Limited U45200MH2008PLC180608 ·
JSw Cement Limited U26957MH2006PLC160839 ·
Severfield Reeve International Limited · Fisher Engineering Limited · JSW Realty Limited U02710MH2003PTC187132 · Jsoft Solutions Limited U72200KA2006PLC040034 |
CAPITAL STRUCTURE
(After:
28.06.2011)
Authorised Capital : Rs.800.000
Millions
Issued, Subscribed & Paid-up Capital : Rs.790.759 Millions
(AS ON 31.03.2011)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
80000000 |
Equity Shares |
Rs.10/- Each |
Rs.800.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
76284600 |
Equity Share |
Rs.10/- each |
Rs.762.846
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
762.846 |
373.215 |
|
|
2] Share Application Money |
|
0.000 |
143.760 |
|
|
3] Reserves & Surplus |
|
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
|
(272.000) |
(49.507) |
|
|
NETWORTH |
|
490.846 |
467.468 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
1412.349 |
194.000 |
|
|
2] Unsecured Loans |
|
0.000 |
0.000 |
|
|
TOTAL BORROWING |
|
1412.349 |
194.000 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
1903.195 |
661.468 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
1834.231 |
13.781 |
|
|
Capital work-in-progress |
|
0.000 |
513.607 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
53.504 |
123.770 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
91.403 |
0.000 |
|
|
Sundry Debtors |
|
101.633 |
0.000 |
|
|
Cash & Bank Balances |
|
66.026 |
21.993 |
|
|
Other Current Assets |
|
347.253 |
6.729 |
|
|
Loans & Advances |
|
266.891 |
173.454 |
|
Total
Current Assets |
|
873.206 |
202.176 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
|
424.378 |
140.810 |
|
|
Other Current Liabilities |
|
431.660 |
50.308 |
|
|
Provisions |
|
1.708 |
0.748 |
|
Total
Current Liabilities |
|
857.746 |
191.866 |
|
|
Net Current Assets |
|
15.460 |
10.310 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
1903.195 |
661.468 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Operating Revenue |
|
479.962 |
0.000 |
|
|
|
Interest from Banks |
|
14.395 |
1.644 |
|
|
|
TOTAL (A) |
|
494.357 |
1.644 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption Materials Changed Inventories |
|
428.465 |
0.000 |
|
|
|
Manufacturing Services Cost |
|
40.901 |
0.517 |
|
|
|
Contract Costs |
|
7.721 |
0.000 |
|
|
|
Employee Related Expenses |
|
57.918 |
0.591 |
|
|
|
Administrative, Selling and Other Expenses |
|
118.928 |
16.641 |
|
|
|
TOTAL (B) |
|
653.933 |
17.749 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
(159.576) |
(16.105) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
69.631 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
|
(229.207) |
(16.105) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
26.052 |
0.602 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
|
(255.259) |
(16.707) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
0.023 |
0.011 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
|
(255.282) |
(16.718) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
(16.718) |
-- |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
(272.000) |
(16.718) |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
|
583.164 |
68.167 |
|
|
TOTAL IMPORTS |
|
583.164 |
68.167 |
|
|
|
|
|
|
|
|
|
|
Earnings/(Loss)
Per Share (Rs.) |
|
(4.19) |
(1.35) |
|
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
530.000 |
|
|
|
|
|
Expected Sales (2012-2013): Rs.600.000 Millions
The above information has been parted by Mr. Bharat Bhushan
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
|
(51.64) |
(1016.91) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
(53.18) |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
(9.43) |
(7.74) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
(0.52) |
(0.04) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
4.62 |
0.83 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
1.02 |
1.05 |
LOCAL AGENCY FURTHER INFORMATION
|
Available
in Report [Yes/No] |
|
|
Year
of Establishment |
Yes |
|
Locality
of the Firm |
Yes |
|
Constitution
of the firm |
Yes |
|
Premises
details |
No |
|
Type
of Business |
Yes |
|
Line
of Business |
Yes |
|
Promoters
background |
Yes |
|
No.
of Employees |
Yes |
|
Name
of Person Contacted |
Yes |
|
Designation
of contact person |
Yes |
|
Turnover
of firm for last two years |
Yes |
|
Profitability
for last two years |
Yes |
|
Reasons
for variation <> 20% |
- |
|
Estimation
for coming financial year |
Yes |
|
Capital
the business |
Yes |
|
Details
of sister concerns |
Yes |
|
Major
Suppliers |
No |
|
Major
Customers |
No |
|
Payment
Terms |
Yes |
|
Export
/ Import Details [If Applicable] |
Yes |
|
Market
Information |
- |
|
Litigations
that the firm / promoter involved in |
- |
|
Banking
Details |
Yes |
|
Banking
Facility Details |
Yes |
|
Conduct
of the banking account |
- |
|
Buyer
visit details |
- |
|
Financials,
if provided |
Yes |
|
Incorporation
details, if applicable |
Yes |
|
Last
accounts filed at ROC |
Yes |
|
Major
Shareholders, if applicable |
Yes |
SUNDRY CREDITORS
DETAILS:
(Rs.
In Millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
|
Sundry Creditors
|
|
|
|
-
Creditors Due Others |
424.378 |
140.810 |
|
|
|
|
|
Total
|
424.378 |
140.810 |
NOTE:
The Registered Office of the company
has been shifted from 401, Delux Court, Plot No.1407-1409, R. V. Bambardekar Road, Station Road, Bandra
(West), Mumbai - 400050, India to the present address w.e.f. 06.06.2011.
REVIEW OF
OPERATIONS
The Company has
started its commercial production of the first fabrication line is commenced in
November 2010 and the second fabrication line has just started its operation in
March, 2011 and the company have produced 3425 MT finished product till date.
The Loss before
depreciation and tax is Rs.229.207 Millions. After providing for depreciation
of Rs.26.052 Millions and wealth tax of Rs.0.023 Millions, the Net Loss after
tax and depreciation is Rs.255.282 Millions.
FUTURE PROSPECTS
Wirth the help of
in house expertise of and State of the art technology for design; erection and fabrication
of structural steelwork the company expects to make a strong position in India
in commercial as well as residential construction.
The order book of
the Company stood to Rs.1200.000 Millions (8370) MT.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U28112MH2009PLC191045 |
|
Name of the
company |
JSW SEVERFIELD
STRUCTURES LIMITED |
|
Address of the
registered office or of the principal place of business in |
302, Naman Centre, Plot No. C-31, G- Block, Bandra Kurla Complex,
Bharat Nagar, Mumbai – 400051, Maharashtra, India |
|
This form is for |
Creation of charge |
|
Type of charge |
Book Debts Movable Property (not being pledge) |
|
Particular of
charge holder |
ICICI Bank Limited ICICI Bank Towers, Regional Office, Shobha Pearl 1, Commissiariat Road, Bengaluru – 560001, Karnataka, India |
|
Nature of
description of the instrument creating or modifying the charge |
Deed of
hypothecation |
|
Date of
instrument Creating the charge |
29.06.2011 |
|
Amount secured by
the charge |
Rs.750.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest 0.75% on LC, BG
and Buyers Credit LUT and for Fund based I-Base + 3.50% for Cash Credit and
L+200 bps for Buyers Credit fund based facility Terms of
Repayment As per credit
arrangement letter Margin for non fund
based 5% on LC, BG and for Fund based 25% for Cash Credit Facility Extent and
Operation of the charge 1st parripassu
charge on the current assets of the Company 2nd parripassu
charge on the movable fixed assets of the Company. |
|
Short particulars
of the property charged |
Raw materials,
goods in process, semi-finished and finished goods, consumable stores and
spares and such other movable, including book debts, bills whether documentary
or clean, both present and future at the factory situated at Near 10MT Gate,
Beside Cement Plant II, P.O. Vidyanagar, Toranagallu, Sandur Taluk, District
Bellary- 583275 in the State of Karnataka. |
FIXED ASSETS
Tangible Assets
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixture
·
Vehicles
·
Motor Car
Intangible Assets
·
Computer Software
·
Capital Work in Progress
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.55.37 |
|
|
1 |
Rs.85.95 |
|
Euro |
1 |
Rs.67.87 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
-- |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
26 |
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.