MIRA
INFORM REPORT
|
Report Date : |
11.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
MOFLEX SUSPENSIONS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
1, Bombay Co-operative Industrial Estate, NSS Road, Narayan Nagar, Ghatkopar
(West), Mumbai – 400086, Maharashtra |
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|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
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|
|
Date of
Incorporation : |
07.12.1990 |
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|
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Com. Reg. No.: |
11-228791 |
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|
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|
Capital
Investment / Paid-up Capital : |
Rs. 17.400
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29304MH1990PTC228791 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer and Exporter of all kind of Auto Leaf Springs, Coil Springs,
Hydraulic and Other Shock Absorbers, etc. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 300000 |
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|
|
|
Status : |
Satisfactory |
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|
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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|
Comments : |
Subject is a part of the Vikrant Group. It is an established company
having satisfactory track. There appears some dip in the profitability of the
company during 2011. However, trade relations are reported as decent. Business is active.
Payments are reported to be usually correct and as per commitments. 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) |
|
|
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 |
CRISIL |
|
Rating |
Term Loan : BBB |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
December 23, 2011 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Cash Credit : BBB |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
December 23, 2011 |
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 : |
1, Bombay Co-operative Industrial Estate, NSS Road, Narayan Nagar,
Ghatkopar (West), Mumbai – 400086, Maharashtra, India |
|
Tel. No.: |
91-22-25161334/ 25163396 |
|
Fax No.: |
91-22-25114811 |
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E-Mail : |
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|
Website : |
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|
Corporate Office : |
49, Punit Nagar, Above Times of India Office, Old Padra Road, Vadodara
– 390020, Gujarat, India |
|
Tel. No.: |
91-265-2343081/ 2359620 |
|
Fax No.: |
91-265-2331055 |
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E-Mail : |
|
|
|
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Factory 1 : |
109 B, Village Khakharia, Taluka Salvi, Vadodara – 391510, Gujarat,
India |
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Factory 2 : |
Panchmahals, Gujarat, India |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Jagdeep Budhiraja Singh |
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|
Designation : |
Director |
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Address : |
402, Linkway Building, Plot No. 397, 14th Road, Khar, Mumbai
– 400 001, Maharashtra, India |
||||||||||||||||||||||||
|
Date of Birth/Age : |
03.07.1951 |
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|
Date of Appointment : |
07.12.1990 |
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DIN No.: |
01020130 |
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Other Directorship: |
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|||||||||||||||||||||||||
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||||||||||||||||||||||||
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Name : |
Mr. Avinashsingh Harbanssing Budhiraja |
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|
Designation : |
Director |
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|
Address : |
Flat No. 402, F th Floor Linkway Building, 14th Road, Khar
(West), Mumbai – 400 052, Maharashtra, India
|
||||||||||||||||||||||||
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Date of Birth/Age : |
06.10.1964 |
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Date of Appointment : |
07.12.1990 |
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DIN No.: |
01020182 |
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Other Directorship: |
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|||||||||||||||||||||||||
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||||||||||||||||||||||||
|
Name : |
Mr. Harbans Singh Budhiraja |
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|
Designation : |
Director |
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|
Address : |
Flat No. 402, Link Way Plot No. 397, 14th Road, Khar,
Mumbai – 400 052, Maharashtra, India |
||||||||||||||||||||||||
|
Date of Birth/Age : |
05.02.1925 |
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Date of Appointment : |
07.12.1990 |
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DIN No.: |
01911451 |
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Harbansingh Bhagatsingh Budhiraja |
|
325010 |
|
Jagdeepsingh Harbansingh Budhiraja |
|
390010 |
|
Avinashsingh Harbansingh Budhiraja |
|
390010 |
|
Daljikaur Jagdeepsingh Budhiraja |
|
340000 |
|
Sarabjitkaur Avinashsingh Budhiraja |
|
295000 |
|
Total |
|
1740030 |
AS ON 30.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of all kind of Auto Leaf Springs, Coil
Springs, Hydraulic and Other Shock Absorbers, etc. |
|
|
|
|
Products : |
|
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Auto Leaf Springs |
Nos. |
N.A. |
N.A. |
332316 |
Note: Installed capacities are taken as certified by
Management and the same is relied upon by the Auditors.
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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|
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Bankers : |
State Bank of India, Mid Corporate Group Industrial Finance
Branch, Marble Arch, Race Course Circle, Vadodara-390007, Gujarat, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Y. Iyer and Company Chartered Accountants |
|
Address : |
Flat No. 4, Bijal Apartment, Opposite Cross World, Near Arunoday Circle,
Alkapuri, Vadodara – 390007, Gujarat, India |
|
Tel. No.: |
91-265-6452773/ 2334047 |
|
Income-tax
PAN of auditor or auditor's firm : |
AACPI7857D |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 20.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,740,030 |
Equity Share |
Rs.10/- each |
Rs. 17.400 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 |
17.400 |
17.400 |
17.400 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
58.084 |
53.753 |
44.778 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
75.484 |
71.153 |
62.178 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
30.086 |
29.916 |
40.641 |
|
|
2] Unsecured Loans |
22.675 |
22.667 |
20.457 |
|
|
TOTAL BORROWING |
52.761 |
52.583 |
61.098 |
|
|
DEFERRED TAX LIABILITIES |
4.566 |
3.005 |
3.124 |
|
|
|
|
|
|
|
|
TOTAL |
132.811 |
126.741 |
126.400 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
50.403 |
52.811 |
52.871 |
|
|
Capital work-in-progress |
4.009 |
0.000 |
0.711 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
60.691
|
45.096 |
31.956
|
|
|
Sundry Debtors |
44.939
|
54.397 |
49.970
|
|
|
Cash & Bank Balances |
4.591
|
7.272 |
4.505
|
|
|
Other Current Assets |
11.797
|
6.142 |
15.922
|
|
|
Loans & Advances |
0.000
|
0.000 |
1.328
|
|
Total
Current Assets |
122.018
|
112.907 |
103.681
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
28.456
|
26.795 |
9.980
|
|
|
Other Current Liabilities |
7.937
|
7.411 |
4.684
|
|
|
Provisions |
7.226
|
4.771 |
16.199
|
|
Total
Current Liabilities |
43.619
|
38.977 |
30.863
|
|
|
Net Current Assets |
78.399
|
73.930 |
72.818
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
132.811 |
126.741 |
126.400 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
308.207 |
|
|
|
Other Income |
|
|
37.658 |
|
|
|
TOTAL |
348.600 |
303.021 |
345.865 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw material and other material |
|
|
244.570 |
|
|
|
Manufacturing expenses |
|
|
58.410 |
|
|
|
Administrative expenses |
|
|
7.799 |
|
|
|
Selling and distribution expenses |
|
|
6.260 |
|
|
|
Fringe benefit tax |
|
|
0.138 |
|
|
|
Increase or decrease in stocks |
|
|
4.582 |
|
|
|
TOTAL |
327.939 |
275.462 |
321.759 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
(Including
Financial Expenses) |
|
24.106 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
|
7.725 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
20.661 |
27.559 |
16.381 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
7.613 |
7.486 |
7.756 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
13.048 |
20.073 |
8.625 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
6.107 |
7.619 |
3.183 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
6.941 |
12.454 |
5.442 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
48.586 |
40.041 |
37.638 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.429 |
0.429 |
0.429 |
|
|
|
Interim Dividend/ Proposed Dividend |
2.610 |
3.480 |
2.610 |
|
|
BALANCE CARRIED
TO THE B/S |
52.488 |
48.586 |
40.041 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
Nil |
0.797 |
Nil |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.99 |
7.16 |
3.13 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.99 |
4.11 |
1.57
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
N.A. |
N.A. |
2.80
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.14 |
12.11 |
5.51
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.17 |
0.28 |
0.14
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.28 |
1.29 |
1.48
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.80 |
2.90 |
3.36
|
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 |
Yes |
|
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 address of the company has been
shifted from 301, Silver Point, Behind Hotel Express, Alkapuri, Baroda-390005,
Gujarat, India to the present w.e.f. 22.02.2012
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity
number of the company |
U29304MH1990PTC228791 |
|
Name of the
company |
MOFLEX
SUSPENSIONS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
1, Bombay Co-Operative
Industrial Estate, NSS Road, Narayan Nagar, Ghatkopar (West), MUMBAI -
400086, Maharashtra, India Email ID: avinash@tristarsprings.com |
|
This form is for |
Modification of
charge |
|
Charge identification
number of the modified |
90100133 |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
State Bank of
India, Mid Corporate Group Industrial Finance Branch, Marble Arch, Race
Course Circle, Vadodara – 390007, Gujarat, India Email ID: pramodkumar1@sbi.co.in
|
|
Nature of
description of the instrument creating or modifying the charge |
Memorandum Relating
to Deposit of Title Deeds for creation of further charge for Term Loan
Overall Limit where the Initial charge is created by way of Mortgage by
Deposit of Title Deeds |
|
Date of
instrument Creating the charge |
09.05.2012 |
|
Amount secured by
the charge |
Rs. 70.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Cash Credit -
4.25% above Base Rate Terms of Repayment on demand Margin Raw materials - 25%,
stocks in process, Finished Goods - 30%, BG - 10%, Book debts/receivables
(cover period 90 days) - 50%, EPC - 10% of FOB of order / export Extent and Operation of the charge Equitable
Mortgage of the property i.e. all that piece of land known as plot no.109/B
paiki within the village limits of Khakharia, Taluka-Savli, Dist. Baroda,
containing by adm. 18818 sq. mtrs. or there about. Others Credit facilities
- Cash Credit Rs.70.000 Millions (within which sub limits of EPC - Rs.40.000
Millions, Bank Guarantee Rs.7.500 Millions) |
|
Short particulars
of the property charged |
Equitable
Mortgage of the property i.e. all that piece of land known as plot no.109/B
paiki within the village limits of Khakharia, Taluka-Savli, Dist. Baroda,
containing by adm. 18818 sq. mtrs. Or there about. |
|
Date of latest
modification prior to the present modification |
19.05.2011 |
|
Particulars of
the present modification |
By this execution
the E.M. charge extended to cover revised credit facilities from Rs.60.000 Millions
to Rs.70.000 Millions. {Credit facilities - Cash Credit Rs.70.000 Millions
(within which sub limits of EPC - Rs.40.000 Millions, Bank Guarantee Rs.7.500
Millions)} |
FIXED ASSETS:
- Land
- Patent/ Trademark
- Buildings
- Plant and Machinery
- Electrical Fittings
- Tools and Dies
- Furniture and Fixture
- Scooters
- Factory Equipments
- Office Equipments
- Transformer
- Computers
- Cycle Stand
- Cycle
- Tube Well
- Motor Car TATA Indigo
- D.G. Set
- Electric Transformer
- Material Handling Equipment
- Packing Equipment
- Scooters
- Storage Tank
- Tools and Dies
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. 55.34 |
|
|
1 |
Rs. 88.50 |
|
Euro |
1 |
Rs. 70.74 |
INFORMATION DETAILS
|
Report Prepared by
: |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
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 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
47 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.