MIRA
INFORM REPORT
|
Report Date : |
20.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
MICRO FINISH VALVES PRIVATE LIMITED (w.e.f.11.02.2005) |
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Formerly Known
As : |
MICROFINISH VALVES LIMITED |
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Registered
Office : |
Block No.23/1K, 23/2, and 23/1B, Hubli Dharwad Bypass Road, Itigatti
Village, Taluka and District Dharwad-580114, Karnataka |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
10.03.1983 |
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Com. Reg. No.: |
08-005209 |
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Capital
Investment / Paid-up Capital : |
Rs.9.981 millions |
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CIN No.: [Company Identification
No.] |
U29120KA1983PTC005209 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
BLRM03593C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacture of ball valves, bellows sealed globe valves, globe
valves for chlorine service, and knife edge gate valves. |
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No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (64) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
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Maximum Credit Limit : |
USD 3500000 |
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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 fine track. Latest
Financial i.e. 2011-12 are missing from the government department. From the available
financial the company’s position appears to be sound. Trade relations are
reported as fair. Business is active. Payments are reported to be regular and
as per commitments. The company can be considered good for normal 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 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
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 |
CRISIL |
|
Rating |
PACKING CREDIT : A1 |
|
Rating Explanation |
Very strong degree of safety it carry lowest credit risk. |
|
Date |
14.11.2012 |
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Rating Agency Name |
CRISIL |
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Rating |
TERM LOAN : A |
|
Rating Explanation |
Adequate degree of safety it carry low credit risk |
|
Date |
14.11.2012 |
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 : |
Block No.23/1K, 23/2, and 23/1B, Hubli Dharwad Bypass Road, Itigatti Village,
Taluka and District Dharwad-580114, Karnataka, India |
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Tel. No.: |
91-836-2212404, 2210611 |
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Fax No.: |
91-836-2331438 |
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E-Mail : |
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Website : |
DIRECTORS
As on 28.09.2012
|
Name : |
Mr. Mahendra Karamchand Vikamshi |
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Designation : |
Whole Time Director |
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Address : |
28 Kamal Kunj, Vishweswarnagar, Hubli, Dharwad – 580032, |
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Date of Birth/Age : |
03.09.1951 |
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Date of Appointment : |
20.03.1983 |
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DIN No : |
01414728 |
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Name : |
Ms. Jaya Basayya Sali |
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Designation : |
Whole Time Director |
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Address : |
Girija House No. 38, |
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Date of Birth/Age : |
07.10.1955 |
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Date of Appointment : |
01.04.1997 |
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DIN No : |
00781573 |
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Name : |
Mr. Tilak Karamchand Vikamshi |
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Designation : |
Director |
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Address : |
28 Kamal Kunj, Vishweswarnagar, Hubli, Dharwad – 580032, |
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Date of Birth/Age : |
16.01.1947 |
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Date of Appointment : |
18.03.1996 |
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DIN No : |
00772374 |
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Name : |
Mr. Deepak Karamchand Vikamshi |
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Designation : |
Managing Director |
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Address : |
28 Kamal Kunj, Vishweswarnagar, Hubli, Dharwad – 580032, |
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Date of Birth/Age : |
05.01.1949 |
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Date of Appointment : |
20.03.1983 |
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DIN No : |
01414701 |
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Name : |
Mr. Tushar Karamchand Vikamshi |
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Designation : |
Director cum Chairman |
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Address : |
28 Kamal Kunj, Vishweswarnagar, Hubli, Dharwad – 580032, |
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Date of Birth/Age : |
24.07.1950 |
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Date of Appointment : |
20.03.1983 |
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DIN No : |
01414722 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2012
|
Names of Shareholders |
No. of Shares |
|
Tilak Karamchand Vikamshi |
249500 |
|
Deepak Karamchand Vikamshi |
249500 |
|
Tushar Karamchand Vikamshi |
249500 |
|
Mahendra Karamchand Vikamshi |
249500 |
|
Jaya Basayya Sali |
50 |
|
Rajeev Vikamshi |
10 |
|
Pramod Vikamshi |
10 |
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Anand Vikamshi |
10 |
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Total |
998080 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2012
|
Category |
Percentage |
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Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacture of ball valves, bellows sealed globe valves,
globe valves for chlorine service, and knife edge gate valves. |
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Products : |
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PRODUCTION STATUS AS ON 31.03.2011
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
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Valves |
Nos. |
* |
101985 |
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Valves Spares |
Nos. |
* |
27044 |
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Note:
* The installed capacity varies with the
number of days and shift working as well as on the sizes and products mix of
valves.
GENERAL INFORMATION
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No. of Employees : |
150 (Approximately) |
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Bankers : |
Canara Bank, 112, Ankush Arcade, Station Road,
Hubli-580020, Karnataka, India
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Facilities : |
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Banking
Relations : |
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Auditors : |
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Name : |
S. V. Pinge and Company Chartered Accountants |
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Address : |
1/1, Mitrakul, Ram Nagar Road, Saibaba Nagar, Borivali (West),
Mumbai-400092, Maharashtra, India |
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Tel. No.: |
91-22-28622284 |
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Fax No.: |
91-22-28641155 |
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E-Mail : |
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PAN No.: |
AADPP9848G |
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Joint Venture Company : |
·
Flowserve Microfinish Valves Private Limited |
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Subsidiaries : |
·
Microfinish Valves Inc |
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Related Parties : |
·
Microfinish Pumps Private Limited ·
Microfinish Trading Private Limited ·
Remote Control Microfinish Actuators Private
Limited ·
Flowserve Microfinish Pumps Private Limited ·
Vikamshi Fabrics Private Limited ·
Innovative Process Equipment Private Limited ·
Manjira Engineers [Partnership firm] ·
Prab Engineers [Partnership firm] ·
Speciality Engineers [Partnership firm] |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
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|
1000000 |
Equity Shares |
Rs.10/- each |
Rs. 10.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
998080 |
Equity Shares |
Rs.10/- each |
Rs.9.981 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 |
9.981 |
10.000 |
0.500 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
872.060 |
729.894 |
558.124 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
882.041 |
739.894 |
558.624 |
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LOAN FUNDS |
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1] Secured Loans |
233.973 |
165.597 |
190.815 |
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2] Unsecured Loans |
59.760 |
19.210 |
15.000 |
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TOTAL BORROWING |
293.733 |
184.807 |
205.815 |
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DEFERRED TAX LIABILITIES |
2.820 |
5.433 |
5.157 |
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TOTAL |
1178.594 |
930.134 |
769.596 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
144.750 |
147.032 |
105.928 |
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Capital work-in-progress |
53.050 |
9.112 |
10.699 |
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INVESTMENT |
35.410 |
9.005 |
9.029 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
768.352
|
539.425
|
412.395 |
|
|
Sundry Debtors |
339.362
|
289.729
|
314.388 |
|
|
Cash & Bank Balances |
158.274
|
146.845
|
127.844 |
|
|
Other Current Assets |
3.972
|
13.612
|
13.503 |
|
|
Loans & Advances |
50.608
|
22.779
|
36.931 |
|
Total
Current Assets |
1320.568
|
1012.390
|
905.061 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
333.897
|
216.262
|
219.683 |
|
|
Other Current Liabilities |
39.247
|
29.365
|
27.905 |
|
|
Provisions |
2.040
|
1.778
|
13.533 |
|
Total
Current Liabilities |
375.184
|
247.405
|
261.121 |
|
|
Net Current Assets |
948.384
|
764.985
|
643.940 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1178.594 |
930.134 |
769.596 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
|
|
|
|
|
|
|
Income |
948.829 |
852.426 |
838.095 |
|
|
|
Other Income |
61.696 |
55.164 |
68.073 |
|
|
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TOTAL |
1010.525 |
907.590 |
906.168 |
|
|
|
|
|
|
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Less |
EXPENSES |
|
|
|
|
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|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
799.766 |
650.165 |
668.929 |
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Financial Expenses |
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Deprecation |
|
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Advertising Expenses |
|
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|
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TOTAL |
799.766 |
650.165 |
668.929 |
|
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|
|
|
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PROFIT BEFORE
TAX |
210.759 |
257.425 |
237.239 |
|
|
|
|
|
|
|
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Less |
TAX |
67.191 |
85.655 |
82.114 |
|
|
|
|
|
|
|
|
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PROFIT AFTER TAX
|
143.568 |
171.770 |
155.125 |
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|
|
|
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
154.594 |
138.424 |
62.869 |
|
|
|
|
|
|
|
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Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
168.902 |
155.600 |
78.400 |
|
|
|
Dividend |
0.000 |
0.000 |
1.000 |
|
|
|
Tax on Dividend |
0.000 |
0.000 |
0.170 |
|
|
|
Interim Dividend |
0.00 |
0.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
129.260 |
154.594 |
138.424 |
|
|
|
|
|
|
|
|
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|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
123.509 |
45.899 |
274.054 |
|
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TOTAL EARNINGS |
123.509 |
45.899 |
274.054 |
|
|
|
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|
|
|
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IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
83.495 |
85.995 |
72.650 |
|
|
|
Capital Goods |
1.320 |
11.966 |
0.117 |
|
|
TOTAL IMPORTS |
84.815 |
97.961 |
72.767 |
|
|
|
|
|
|
|
|
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|
Earnings Per
Share (Rs.) |
143.84 |
171.77 |
3102.500 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
14.21
|
18.93
|
17.12 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
22.21
|
30.20
|
28.31 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
14.38 |
22.20
|
23.47 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.24
|
0.35
|
0.42 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.76
|
0.59
|
0.85 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.52
|
4.09
|
3.47 |
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 |
Yes |
|
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 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 |
No |
|
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 |
NOTE
The registered office address of the company
has been shifted from “B 161-162, Industrial Estate, Gokul Road, Hubli -
580030, Karnataka, India” to the.
PERFORMANCE AND
CURRENT YEAR PROSPECTS:
The company has recorded a turnover of Rs. 948.829 millions during the
year as compared to Rs.852.426 millions during the previous year. Since the oil
prices are showing an continuous rising trend, lot of new projects are being
considered and the company is expected to do better in the ensuing years.
CONTINGENT
LIABILITY: (Rs. In Millions)
|
Particulars
|
31.03.2011 |
31.03.2010 |
|
Counter Guarantee given by Bank |
207.429 |
148.207 |
|
Bills/Cheques discounted with Bank |
0.000 |
0.900 |
|
Sales Tax demand disputed in appeal |
7.404 |
15.068 |
FORM 8
|
Corporate
identity number of the company |
U29120KA1983PTC005209 |
|
Name of the
company |
MICRO FINISH VALVES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
B 161-162, Industrial Estate, Gokul Road, Hubli - 580030,
Karnataka, India E-mail id : jayas@microfinishgroup.com
|
|
This form is for |
Modification of charge |
|
Charge
identification (ID) number of the charge to be modified |
10146108 |
|
Type of charge |
Immovable property Book debts Movable property (not being pledge) |
|
Particular of
charge holder |
Canara Bank, 112, Ankush
Arcade, Station Road, Hubli-580020, Karnataka, India E-mail id : cb0514@canarabank.com
|
|
Nature of
instrument creating charge |
Supplemental Hypothecation Agreement |
|
Date of
instrument Creating the charge |
16.10.2012 |
|
Amount secured by
the charge |
Rs. 990.000 millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Base Rate +1.50% =12.00% p.a. floating on OCC/ODBD ADHOC Base Rate +0.50% =11.00% p.a. floating on PC/FDB/EBE Terms of
repayment Tenable till 10.10.2013 Margin 25%- Stock 40%- Receivable 15%- on PC/FDB/FBE BG/ILC/FLC – 10% FOG – 25% Extent and
operation of the charge 100% |
|
Short particulars
of the property charged (Including location of the property) |
Primary
Security ....Hypothecation of Stocks - Rs.920.900 Millions Primary
Security ....Hypothecation of Book Debts - Rs.447.400 Millions Primary
Security.....EMT of project land measuring 23 acres situated at Sy. No.
23/1A, 23/1B, 23/1K and 23/2 situated at Itigatti village Dharwar District in
the name of the Company and proposed building. Collateral
Security ... Existing Factory Land and Building at B-161/162 , Industiral
Estate, Gokul Road, Hubli - Rs.
46.500 Millions Collateral
Security ... Hypothecation of existing machineries - Rs.101.500 Millions Collateral
Securities of Fixed Deposit (Existing and additional stipulated) ... Rs.
104.500 Millions Hypothecation
of Plant and Machinery. Rs. 195.200 Millions Fixed
Deposits. Rs.4.500 Millions |
|
Date of
instrument modifying the charge |
14.06.2012 |
|
Particulars of
the present modification |
From existing aggregate amount of Rs 630.000 millions to
Rs. 990.000 millions |
FIXED ASSETS
·
Land
·
Office / Factory Building
·
Borewell
·
Plant and Machinery
·
Furniture and Fixtures
·
Patents and Dies
·
Computer Systems
·
Testing Equipments
·
Generator
·
Vehicles
·
Office Equipments
·
Canteen Equipments
WEB SITE DETAILS
PROFILE
Subject was established in 1971 to manufacture ball valves, bellows
sealed globe valves, globe valves for chlorine service, and knife edge gate
valves. In the 1980's Microfinish started the manufacture and sale of chemical
process and slurry pumps.
For the last 35 years we have designed, developed, and supplied their
products to:
- Oil and gas facilities, hydrocarbon processing refineries, and
petrochemical plants
- Fossil fuel, nuclear, and combined cycle power plants
- Fertilizer, chemical, and pharmaceutical industries
- Food and beverage plants
- Mining, mineral processing, and steel sectors
- Pulp and paper mills
They are recognized as a quality manufacturer of reliable valves and
pumps for industry. Their wealth of experience has enabled Microfinish to
become a prominent supplier of ball valves throughout the world and a reputable
manufacturer of specialized pumps in India.
Industrial technology is progressing at a remarkable rate, so they have
established a research and development department equipped with modern test
facilities.
Their manufacturing facilities are located in separate and well laid-out
buildings with ample scope for future expansion. The industrial estate in Hubli
is one of the biggest and fastest developing manufacturing zones in the state
of Karnataka. The city of Hubli is well served by air, rail, and road
connections; it is situated on the national highway NH 4 between Mumbai and
Bangalore.
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.54.97 |
|
|
1 |
Rs.87.50 |
|
Euro |
1 |
Rs.70.16 |
INFORMATION DETAILS
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
64 |
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.