MIRA
INFORM REPORT
|
Report Date : |
16.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
RELCON INFRAPROJECTS LIMITED (w.e.f. 20.07.2010) |
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Formerly Known
As : |
RELCON INFRAPROJECTS PRIVATE LIMITED |
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Registered
Office : |
105/C, Shyam Kamal, Agarwal Market, Vile Parle East, Mumbai 400057, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
04.12.2006 |
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Com. Reg. No.: |
11-165973 |
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Capital
Investment / Paid-up Capital : |
Rs.90.000 Millions |
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CIN No.: [Company Identification
No.] |
U45201MH2006PLC165973 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMR20856D |
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PAN No.: [Permanent Account No.] |
AADCR4459E |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Infrastructure Development and Ready Mix Concrete |
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No. of Employees
: |
Information not divulged by the management |
RATING & COMMENTS
|
MIRAs Rating : |
Ba (49) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 3100000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. Financial
position of the company appears to be sound. However, trade relations are
reported as fair. Business is active. Payments are reported to be regular. The company can be considered 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
Management Non Co-Operative
LOCATIONS
|
Registered Office : |
105/C, Shyam Kamal, Agarwal Market, Vile Parle East, Mumbai 400057, |
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Tel No. : |
91-22-61273601 / 67339999 |
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Fax No. : |
91-22-26113815 / 61273609 / 67339900 |
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E-Mail : |
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Website : |
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Corporate Office : |
A-01/101, Krishna Apartment, Juhu Lane, Opposite Mavir Jain Vidyalaya,
Andheri (west), Mumbai 400058, Maharashtra, India Tel. No.: 91-22-67339999 Fax No.: 91-22-67339900 E-Mail : contact@relcon.co.in Asphalt Batchmix
Plant/ Quarry Nagle : Nagle Bunder, Quarry / Wet Mix
Plant: Kharghar : Survey No. 356, OWE Camp, Village Post Kharghar, Taluka Panvel, Near |
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Branches : |
Pune : Flat No.703, Building A, Ahmedabad : B-305, Aatma House, Near Paradise House, Opposite Reserve Bank of
India, Ashram Road, Ahmedabad 380009, Gujarat, India |
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RMC Plant : |
Wadala : Near Wadala Truck, Terminal, Opposite I. Max Theatre, Anil Wadala Link
Road, Wadala (East), Mumbai 400037, Maharashtra, India Dahisar : Ketki Pada, Behind Diamond Industrial Estate, Dahisar (East), Mumbai, Bandra : Opposite Mumbai Cricket Association, G. Block, Bandra Kurla Complex,
Bandra (East), Mumbai 400051, Maharashtra, India Mulund : Mulund Eastern Express Highway, Octroi Naka, Near Mulund Dumping
Ground, Mulund (East), Mumbai, India |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Rakesh Pravin Shah |
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Designation : |
Chairman |
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Address : |
201, Krishna Niwas, 2nd Floor, J.V.P.D. Scheme Road 5,
Suvarna Nagar, C.H.S. Ltd, Vile Parle (west), Mumbai 400056, India |
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Date of Birth/Age : |
18.09.1966 |
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Qualification : |
B.Com |
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Date of Appointment : |
03.03.2008 |
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DIN No.: |
00482647 |
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Name : |
Mr. Tejas Pravin Shah |
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Designation : |
Managing Director |
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Address : |
501, Ketan ville, plot no.25, The Hatkesh C.H.S. Limited, North South
Road No.6, J.V.P.D. Scheme, Vile Parle, Mumbai 400056, India |
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Date of Birth/Age : |
03.10.1970 |
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Qualification : |
BE Civil from |
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Date of Appointment : |
04.12.2006 |
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DIN No.: |
00482588 |
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Name : |
Mr. Jainendra Pravin Shah |
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Designation : |
Joint Managing Director |
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Address : |
5th Floor, Uday, Plot No.52, |
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Date of Birth/Age : |
08.12.1964 |
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Qualification : |
S.S.C. |
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Date of Appointment : |
04.12.2006 |
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DIN No.: |
00482719 |
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Name : |
Mr. Dipan Pravin Shah |
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Designation : |
Director |
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Address : |
401, |
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Date of Birth/Age : |
06.07.1969 |
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Qualification : |
B.Com |
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Date of Appointment : |
03.03.2008 |
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DIN No.: |
00482614 |
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Name : |
Mr. Yogesh Anandial Shah |
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Designation : |
Director |
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Address : |
Plot No.37, Road No.6, J.V.P.D. Scheme, Vile Parle (West), Mumbai
400056, |
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Date of Birth/Age : |
14.04.1952 |
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Qualification : |
B.Sc |
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Date of Appointment : |
27.08.2010 |
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DIN No.: |
00001965 |
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Name : |
Mr. Arvind Vithal Deshingkar |
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Designation : |
Director |
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Address : |
Building 5, Block 102, Neelam Nagar, Ph (1), Gawan Pada, Mulund
(East), Mumbai 400081, |
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Date of Birth/Age : |
08.09.1948 |
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Qualification : |
B.E. (Civil), Master of Technology (Civil Engineering)
from Indian Institute of Technology |
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Date of Appointment : |
27.08.2010 |
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DIN No.: |
03202809 |
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Name : |
Mr. Dilip Keshavlal Patel |
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Designation : |
Director |
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Address : |
15, Neel Shobha, 4th Floor, 52 E, Sir, |
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Date of Birth/Age : |
20.10.1947 |
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Date of Appointment : |
27.08.2010 |
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DIN No.: |
00013150 |
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Name : |
Mr. Pratap Ratilal Marchant |
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Designation : |
Director |
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Address : |
403, Steel Building, A Wing, 4th Floor, |
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Date of Birth/Age : |
02.03.1935 |
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Date of Appointment : |
27.08.2010 |
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DIN No.: |
00022223 |
KEY EXECUTIVES
|
Name : |
Mr. Hoshang F. Kapadia |
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Designation : |
Company Secretary |
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Address : |
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Date of Birth/Age : |
16.11.1962 |
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Date of Appointment : |
11.06.2009 |
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Pan No. : |
ACRPK3456B |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
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Names of Shareholders |
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No. of Shares |
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Pravin Chotalal Shah (HUF) |
|
50000 |
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Kamakshi Pravin Shah |
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170000 |
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Dipen P Shah |
|
10 |
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Rakesh P Shah |
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10 |
|
Tejas P Shah |
|
50000 |
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Jainendra Pravin Shah |
|
50000 |
|
Dipen Pravin Shah |
|
2194990 |
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Rakesh Pravin Shah |
|
2194990 |
|
Tejas Pravin Shah |
|
2145000 |
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Jainendra Pravin Shah |
|
2145000 |
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Total |
|
9000000 |
As on 30.09.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
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Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Infrastructure Development and Ready Mix Concrete |
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Products : |
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GENERAL INFORMATION
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No. of Employees : |
Information not divulged by the management |
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Bankers : |
HDFC Bank Limited,
HDFC Bank Housesenapati Bapat Marg, Lower Parel W, Mumbai - 400013, |
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
-- |
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Finance
Institutes : |
Srei Infrastructure Finance Limited, Vishwakarma, 86C, Topsia Road
(South), Kolkata 700046, West Bengal, India
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Auditors : |
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Name : |
Jogish Mehta and Company Chartered Accountants |
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Address : |
807, |
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PAN.: |
AAMPM0190K |
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Subsidiaries : |
Relcon Realty Private Limited CIN NO. : U70109MH2008PTC183547 |
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Associates / Joint
Ventures : |
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Other Related Party
: |
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CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
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|
15000000 |
Equity Shares |
Rs.10/- each |
Rs.150.000 millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
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|
9000000 |
Equity Shares |
Rs.10/- each |
Rs.90.000
Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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|
SHAREHOLDERS FUNDS |
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1] Share Capital |
90.000 |
90.000 |
90.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
706.969 |
481.013 |
283.875 |
|
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
796.969 |
571.013 |
373.875 |
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LOAN FUNDS |
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1] Secured Loans |
149.128 |
142.817 |
213.549 |
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2] Unsecured Loans |
72.920 |
37.654 |
43.242 |
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TOTAL BORROWING |
222.048 |
180.471 |
256.791 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
1019.017 |
751.484 |
630.666 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
259.729 |
206.614 |
193.332 |
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Capital work-in-progress |
0.178 |
0.449 |
3.655 |
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INVESTMENT |
35.037 |
25.149 |
23.239 |
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DEFERREX TAX ASSETS |
9.890 |
7.479 |
4.850 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
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Inventories |
123.616
|
72.240
|
76.658 |
|
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Sundry Debtors |
1022.403
|
895.566
|
487.707 |
|
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Cash & Bank Balances |
143.534
|
113.718
|
182.714 |
|
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Other Current Assets |
1.325
|
0.776
|
1.536 |
|
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Loans & Advances |
828.278
|
639.610
|
452.797 |
|
Total
Current Assets |
2119.156
|
1721.910 |
1201.412 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
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Sundry Creditors |
879.780 |
853.385 |
551.326 |
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Other Current Liabilities |
306.551
|
173.020
|
74.460 |
|
|
Provisions |
225.261
|
184.826
|
170.036 |
|
Total
Current Liabilities |
1411.592
|
1211.231 |
795.822 |
|
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Net Current Assets |
707.5864
|
510.675
|
405.590 |
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MISCELLANEOUS EXPENSES |
6.619 |
1.118 |
0.000 |
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|
|
|
|
|
|
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TOTAL |
1019.017 |
751.484 |
630.666 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
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Income |
3349.922 |
3017.560 |
2709.173 |
|
|
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Other Income |
23.544 |
18.394 |
22.389 |
|
|
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TOTAL (A) |
3373.466 |
3035.954 |
2731.562 |
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|
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|
|
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Less |
EXPENSES |
|
|
|
|
|
|
|
Contract cost |
2809.272 |
2554.205 |
|
|
|
|
Employee related expenses |
63.176 |
52.019 |
2453.708 |
|
|
|
Administrative selling other expenses |
98.132 |
70.546 |
|
|
|
|
TOTAL (B) |
2970.580 |
2676.770 |
2453.708 |
|
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|
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
402.886 |
359.184 |
277.854 |
|
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Less |
FINANCIAL
EXPENSES (D) |
24.946 |
22.883 |
23.622 |
|
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|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
377.940 |
336.301 |
254.232 |
|
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|
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
43.130 |
38.355 |
32.371 |
|
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|
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|
|
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|
PROFIT BEFORE
TAX (E-F) (G) |
334.810 |
297.946 |
221.861 |
|
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|
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|
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Less |
TAX (H) |
108.845 |
100.808 |
76.830 |
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|
PROFIT AFTER TAX
(G-H) (I) |
225.956 |
197.138 |
145.031 |
|
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|
Add |
PREVIOUS
YEARS BALANCE BROUGHT FORWARD |
401.013 |
283.875 |
138.844 |
|
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|
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|
BALANCE CARRIED
TO THE B/S |
706.969 |
401.013 |
283.875 |
|
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|
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|
|
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|
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|
Earnings Per
Share (Rs.) |
25.11 |
21.90 |
16.11 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
6.70
|
6.49 |
5.30 |
|
|
|
|
|
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|
Net Profit Margin (PBT/Sales) |
(%) |
9.99
|
9.87 |
8.18 |
|
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|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
14.07
|
15.45 |
15.90 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.42
|
0.52 |
0.59 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.05
|
2.44 |
2.81 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.50
|
1.42 |
1.50 |
LOCAL AGENCY FURTHER INFORMATION
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
|
4) Premises details |
No |
|
5) Type of Business |
Yes |
|
6) Line of Business |
Yes |
|
7) Promoters background |
Yes |
|
8) No. of employees |
No |
|
9) Name of person contacted |
No |
|
10) Designation of contact person |
No |
|
11) Turnover of firm for last three years |
Yes |
|
12) Profitability for last three years |
Yes |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
No |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
Yes |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
No |
|
20) Export / Import details (if applicable) |
No |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
Yes |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
Yes |
|
29) Last accounts filed at ROC |
Yes |
|
30) Major Shareholders, if available |
Yes |
SUNDRY CREDITORS
DETAILS:
Rs.
In Millions
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors other than micro and small enterprises |
879.780 |
853.385 |
551.326 |
|
TOTAL |
879.780 |
853.385 |
551.326 |
BACKGROUND:
Relcon Infraprojects Private Limited was incorporated on 04.12.2006
under part IX of the companies Act 1956 and w.e.f. 20.07.2010 the company has
been converted into a Public Company as RELCON INFRAPROJECTS LIMITED.
MANAGEMENT DISCUSSION
AND ANALYSIS REPORT:
(a) Industry
Structure and Development:
The Company is on a fast track growth in infrastructure
sector and is engaged in construction and development of roads, bridges,
airports and other infrastructures. The Company plans to undertake the project
on Built, Operate and Transfer (BOT) basis and also plans to diversify
geographically in other states of
The financial year 2010-11 was a year of robust growth after
the global economic slump of 2008-09. For the first three quarters, almost all
sectors recorded an accelerated growth. It is pertinent to note that this
remarkable growth was inspite of several challenges on global economic front
such as unabated sharp increase in oil prices and debt crisis in
During the year 2010-11, basic issues being high inflation and current account deficit to GDP and its financing dominated the Indian economy. RBI had come out with a slew of monetary measures to contain inflation. However, the monetary policy resulted in slow down in some sector especially manufacturing and real estate in fourth quarter.
Infrastructure is one of the fastest growing sector in
(b) Review of
Operation:
The Company recorded a total income of Rs.3373.466 Millions including other income as against Rs.3035.954 Millions in the previous year, an increase of 11%. However, due to be stiff control over the administrative cost the pre-tax profit for the year has improved by 12%. The pre-tax profit for the year was Rs.334.810 Millions as against Rs.297.946 Millions a year ago.
(c) Opportunities:
Investments in Infrastructure is set to grow dramatically, considering the 12th five year plan and polices of the Government both in Central and States. Structural reform shall lead to infrastructure spending at all level of Government from Central Government to local self Govt. The Planner have realized the structural reforms in the form of infrastructure development shall lead to low cost high, productivity and higher growth in economy. Relcon is suitably poised to take advantage of huge investment in infrastructure sector at all level of the Govt.
(d) Outlook:
The management of the Company is committed to new responsibilities and challenges by virtue of strong and sound business model. This will enable the Company to leverage each and every opportunity and stimulate the growth. Outlook of the Company is bright.
CONTINGENT LIABILITIES
Rs, In Millions
|
Particulars |
31.03.2011 |
31.03.2010 |
|
Bank Guarantee and LC |
890.306 |
479.403 |
|
Disputed Income Tax Demand |
1.155 |
2.659 |
|
*Service Tax (Including Penalties) |
22.817 |
19.128 |
*Relcon is a member of Joint Venture namely Reliance Michigan JV (JV) and its share in the said JV is 40%. Service Tax Authorises has raised a demand of Rs.19.128 Millions for the financial year 2006-07 and the JV has disputed the same and gone in appeal in the tribunal against the same. For the financial year 2010-11 the Service Tax Authority has raised a demand of Rs.3.689 Millions and the time limit for filling the appeal has not yet expired. Further, the said JV has already paid Rs.1.332, Millions against demand Rs.19.128 Millions.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U45201MH2006PLC165973 |
|
Name of the
company |
RELCON
INFRAPROJECTS LIMITED |
|
Address of the registered
office or of the principal place of
business in |
105/C, Shyam
Kamal, Agarwal Market, Vile Parle (East), Mumbai 400057, |
|
This form is for |
Creation of
charge |
|
Type of charge |
Movable property (not being pledge) |
|
Particular of
charge holder |
HDFC Bank
Limited, HDFC Bank House Senapti Bapat Marg, Lower Parel W, Mumbai 400013, |
|
Nature of
instrument creating charge |
Agreement for
Loan and Guarantee. (Contracts No.:
3419609 / 12 / 13) {Rs.1.700 Millions
+ (Rs.2.400 Millions X 2 Conts.)} =
Rs. 6.500 Millions |
|
Date of
instrument Creating the charge |
26.03.2012 |
|
Amount secured by
the charge |
Rs.6.500 Millions
|
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest @ 11.00
% p.a. Terms of Repayment The Loan is
repayable in 35 EMIs of Rs.0.218 Million - {Rs.0.057 Millions + (Rs.0.080 Millions X 2 Conts.)} starting
from 20th April, 2012 ending on 20th February, 2015. Margin As may be
stipulated by bank from time to time. Extent and Operation of the charge The Company hypothecates to and charges in
favour of the Bank by way of first and exclusive charge of the Vehicle/
equipment described in Item No. 15 as security for the repayment/payment by
the company of the loan granted or to be granted to the company by the Bank
together with all fees, interest, costs and expenses incurred/to be incurred
by the Bank and all other monies payable or to become payable by the company
to the Bank. Others The Bank shall be
absolutely entitled and have full power and authority to sell, assign or
transfer in any manner, in whole or in part, and in such manner and on such
terms as the Bank may decide, including reserving a right to the Bank to retain
its power to proceed against the company on behalf of the purchaser, assignee
or transferee, any or all outstanding dues of the company, to any third party
of the Bank's choice without reference to or without written intimation to
the company. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Hypothecation of
3 Nos. Equipments namely: 1 Nos. Apollo Paver Finsher Vm 6 Hes (Year Of
Manufacture: 2012) |
FIXED ASSETS:
- Plant and
Machinery
- Lorries
- Motor Car and
Jeep
- Office
Equipment
- Scooter
- Data
Processing Equipment
- Office and
Factory Structure
- Furniture and
Fixture
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 Intl 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 companys 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.53.84 |
|
|
1 |
Rs.86.72 |
|
Euro |
1 |
Rs.69.17 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
NTH |
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 |
5 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
49 |
This score serves as a reference to assess SCs 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.