MIRA
INFORM REPORT
|
Report Date : |
12.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
JAILAXMI CASTING AND ALLOYS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Gut No.75, Farola Village, Aurangabad Paithan Road, Taluka
Paithan, District Aurangabad – 431005,
Maharashtra |
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|
|
Country : |
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|
|
Financials (as
on) : |
31.03.2011 |
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|
|
|
Date of
Incorporation : |
18.08.2004 |
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|
|
|
Com. Reg. No.: |
11-148067 |
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|
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Capital
Investment / Paid-up Capital : |
Rs.150.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27100MH2004PTC148067 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
NSKJ01535C |
|
|
|
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PAN No.: [Permanent Account No.] |
AABCJ4567F |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Alloy Steels (Billets and Bars) |
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|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1300000 |
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|
|
|
Status : |
Satisfactory |
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|
|
|
Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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|
Comments : |
Subject is an established company having satisfactory track. Trade
relations are reported to be usually correct. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis - in large part because of strong domestic demand - and growth
exceeded 8% year-on-year in real terms. However, India's economic growth in
2011 slowed because of persistently high inflation and interest rates and
little progress on economic reforms. High international crude prices have
exacerbated the government's fuel subsidy expenditures contributing to a higher
fiscal deficit, and a worsening current account deficit. Little economic reform
took place in 2011 largely due to corruption scandals that have slowed legislative
work. India's medium-term growth outlook is positive due to a young population
and corresponding low dependency ratio, healthy savings and investment rates,
and increasing integration into the global economy. India has many long-term
challenges that it has not yet fully addressed, including widespread poverty,
inadequate physical and social infrastructure, limited non-agricultural
employment opportunities, scarce access to quality basic and higher education,
and accommodating rural-to-urban migration.
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
LONG TERM BANK FACILITIES : BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
27.02.2012 |
|
Rating Agency Name |
CARE |
|
Rating |
SHORT TERM BANK FACILITIES : A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit risk |
|
Date |
27.02.2012 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office / Factory : |
Gut No.75, Farola Village, Aurangabad Paithan Road, Taluka
Paithan, District Aurangabad – 431005,
Maharashtra, India |
|
Tel. No.: |
91-2431-251236 / 37 / 251212 |
|
Fax No.: |
91-2431-251212 / 251236 |
|
E-Mail : |
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|
Website : |
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|
|
|
|
Export Sale Office : |
Office No.5, 1st Floor,
Patel Shopping Center, Sainath Road, Malad (West), Mumbai – 400064,
Maharashtra, India. |
|
Tel. No.: |
91-22-28813066 / 28813086 |
|
Fax No.: |
91-22-28813086 |
|
E-Mail : |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Manish Omprakash Agrawal |
|
Designation : |
Director |
|
Address : |
Flat No D – 45, Pride Park, Vedant Nagar, Station Road, Aurangabad, Maharashtra, India |
|
Date of Birth/Age : |
25.02.1975 |
|
Date of Appointment : |
18.08.2004 |
|
DIN No.: |
00574440 |
|
|
|
|
Name : |
Mr. Navin Hanumanprasad Bagadia |
|
Designation : |
Director |
|
Address : |
H. No. 4, Nilkanth Vihar, Golegaonkar Colony, Station Road, Aurangabad, Maharashtra, India |
|
Date of Birth/Age : |
26.07.1974 |
|
Date of Appointment : |
20.11.2004 |
|
DIN No.: |
00574513 |
|
|
|
|
Name : |
Mr. Manoj Dhruwkumar Peety |
|
Designation : |
Director |
|
Address : |
R-10673, C/O D R Peety, Rangaar Galli, Kadrabad, Jalna, Maharashtra, India |
|
Date of Birth/Age : |
03.07.1976 |
|
Date of Appointment : |
14.07.2008 |
|
DIN No.: |
00633923 |
|
|
|
|
Name : |
Mrs. Shardadevi Radhesham Agrawal |
|
Designation : |
Director |
|
Address : |
Bharat Nagar, Near Shivaji Statue, Jalna, Maharashtra, India |
|
Date of Birth/Age : |
27.01.1955 |
|
Date of Appointment : |
18.11.2010 |
|
DIN No.: |
01155774 |
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|
|
|
Name : |
Mr. Srinivas Jayaram Palasuledesai |
|
Designation : |
Director |
|
Address : |
RH – 2, Anand Vihar, Opposite Dhoot Bungalow, Paithan Gate, Aurangabad, Maharashtra, India |
|
Date of Birth/Age : |
07.02.1968 |
|
Date of Appointment : |
05.08.2008 |
|
DIN No.: |
02279223 |
|
|
|
|
Name : |
Mr. Pankaj Radheshyam Agrawal |
|
Designation : |
Director |
|
Address : |
Block No. A – 6, CTSNO – 18349/3, Pride Plaza, Station Road, Aurangabad, Maharashtra, India |
|
Date of Birth/Age : |
30.08.1981 |
|
Date of Appointment : |
16.06.2009 |
|
DIN No.: |
02411583 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
D. R. Peety |
|
72880 |
|
Kavita Peety |
|
72330 |
|
Aarti Peety |
|
31380 |
|
Manoj Peety |
|
52880 |
|
Alkesh Peety |
|
52880 |
|
D. R. Peety-HUF |
|
61270 |
|
Shweta A. Peety |
|
31380 |
|
Radheshyam Agrawal |
|
102580 |
|
Rhishi Steel and Alloys Private Limited, India |
|
367980 |
|
Pankaj Agrawal |
|
40780 |
|
Shardadevi Agrawal |
|
40580 |
|
Neetu Agrawal |
|
10580 |
|
Manish O Agrawal |
|
132146 |
|
Navin H. Bagadiya |
|
141286 |
|
Vipin Bagadiya |
|
139334 |
|
Nitin V. Bagadiya |
|
118834 |
|
Vandana N. Bagadiya |
|
20000 |
|
H. M Bagadiya – HUF |
|
10900 |
|
Total |
|
1500000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2011
|
Category |
|
Percentage |
|
Bodies corporate |
|
29.00 |
|
Directors or relatives of directors |
|
71.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Alloy Steels (Billets and Bars) |
PRODUCTION STATUS
As on 31.03.2010
|
Particulars |
|
Unit |
Installed
Capacity |
Actual
Production |
|
|
|
|
|
|
|
Billets |
|
M.T. |
66000 |
61063 |
|
Rolled Products |
|
M.T. |
62400 |
42164 |
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|
|
|
|
Note:
(The products are not under licensing policy
and hence figures of Licensed Capacity are not applicable
GENERAL INFORMATION
|
Customers : |
·
Trinity Engineers Private Limited, Pune. ·
Kalyani Thermal Systems Limited, Pune. ·
S.R. Auto Parts, Pune. ·
Ahmednagar Forgings Limited, Pune. ·
PAN International, Pune. ·
Indo Meta Forge Private Limited Ahmednagar. ·
Bombay Transportation and Electrical Components
Private Limited, Mumbai. ·
Laxmi Agni Components and Forgings Private
Limited, Aurangabad. ·
MASO Automotives Private Limited, Aurangabad. ·
Prachi Forge Private Limited, Aurangabad. ·
Neepaz V Forge (India) Limited, Aurangabad. ·
Vybra Automate Limited |
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No. of Employees : |
Not Available |
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|
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Bankers : |
·
The Cosmos
Co-Operative Bank Limited, Plot No.13001/01, Rokdiya Hanuman Colony,
Jalna Road, Aurangabad – 431001, Maharashtra, India ·
Bank of Maharashtra ·
Jalna Merchant’s Co-Operative Bank Limited ·
Citi Bank Limited ·
Union Bank of India ·
City Union Bank Limited |
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Kailash and Associates Chartered Accountants |
|
Address : |
7, Agrawal House, Bansilal Nagar, Station Road, |
|
PAN No.: |
AAUPA4535G |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1500000 |
Equity Shares |
Rs.100/- each |
Rs.150.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1500000 |
Equity Shares |
Rs.100/- each |
Rs.150.000 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 |
150.000 |
150.000 |
75.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
189.836 |
98.713 |
75.806 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
339.836 |
248.713 |
150.806 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
795.112 |
452.212 |
434.101 |
|
|
2] Unsecured Loans |
21.626 |
135.789 |
60.125 |
|
|
TOTAL BORROWING |
816.738 |
588.001 |
494.226 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1156.574 |
836.714 |
645.032 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
434.922 |
431.186 |
320.391 |
|
|
Capital work-in-progress |
0.000 |
0.822 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.130 |
0.008 |
0.008 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
334.136
|
281.978 |
147.338 |
|
|
Sundry Debtors |
556.506
|
355.493 |
191.119 |
|
|
Cash & Bank Balances |
18.594
|
20.651 |
41.083 |
|
|
Other Current Assets |
9.653
|
8.291 |
7.649 |
|
|
Loans & Advances |
9.553
|
4.444 |
17.986 |
|
Total
Current Assets |
928.442
|
670.857 |
405.175 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
112.513
|
213.594 |
|
|
|
Other Current Liabilities |
9.066
|
26.953 |
|
|
|
Provisions |
85.341
|
25.612 |
|
|
Total
Current Liabilities |
206.920
|
266.159 |
80.625 |
|
|
Net Current Assets |
721.522
|
404.698 |
324.550 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.083 |
|
|
|
|
|
|
|
|
TOTAL |
1156.574 |
836.714 |
645.032 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
2533.013 |
2084.359 |
2044.576 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
2406.889 (Including
Deprecation) |
1944.352 |
1988.725 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
14.007 |
55.851 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
22.100 |
16.300 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
126.124 |
117.907 |
39.551 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
35.000 |
20.000 |
4.499 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
91.124 |
97.907 |
35.052 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
3.973 |
0.000 |
|
|
|
Stores & Spares |
|
12.700 |
2.866 |
|
|
|
Capital Goods |
|
24.338 |
3.666 |
|
|
TOTAL IMPORTS |
NA |
41.011 |
6.532 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
61.00 |
65.00 |
47.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
3.60 |
4.70 |
1.71 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.25 |
10.70 |
5.45 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.37 |
0.47 |
0.26 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.01 |
3.43 |
3.81 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.49 |
2.52 |
5.03 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
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] |
Promoter's 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 |
No |
|
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 involved in |
-- |
|
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 |
-- |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity number of the company |
U27100MH2004PTC148067 |
|
Name of the company |
JAILAXMI CASTING AND ALLOYS PRIVATE LIMITED |
|
Address of the registered office or of the principal place of business in India of the company |
Gut No.75, Farola Village, Aurangabad Paithan Road, Taluka Paithan, District Aurangabad – 431005, Maharashtra, India E-Mail Id : bhandareassociates@gmail.com |
|
This form is for |
Creation of charge |
|
Type of charge |
Book debts Movable property (not being pledge) Floating charge |
|
Particular of charge holder |
The Cosmos Co-Operative Bank Limited, Plot No.13001/01, Rokdiya Hanuman Colony, Jalna Road, Aurangabad – 431001, Maharashtra, India E-Mail Id : avinash.chavan@cosmosbank.in |
|
Nature of instrument creating charge |
Deed of hypothecation of stock, book debts and machinery |
|
Date of instrument Creating the charge |
23.08.2012 |
|
Amount secured by the charge |
Rs.30.000 Millions |
|
Brief of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Cash Credit - 17% Basic ROI 14% + 3% for Adhoc Terms of Repayment 60 Days Margin 25% in banks favour Extent and Operation of the charge Charge shall remain in force till the entire loan along with interest, commission, and other charges are repaid by the company. |
|
Short particulars of the property or asset(s) charged (including complete address and location of the property) |
All types of stocks, book debts, plant and machinery and all other moveable current assets of the company |
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Auxiliary Equipments
·
Electrical Installation
·
Furniture and Fixtures
·
Vehicles
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 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.54.34 |
|
|
1 |
Rs.86.97 |
|
Euro |
1 |
Rs.69.43 |
INFORMATION DETAILS
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
43 |
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.