MIRA
INFORM REPORT
|
Report Date : |
26.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
MITC ROLLING MILLS PRIVATE LIMITED [w.e.f. 14.12.2006] |
|
|
|
|
Formerly Known
As : |
NEW BOMBEY ISPAT UDYOG PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
B-2/2 M I D C, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
26.04.1985 |
|
|
|
|
Com. Reg. No.: |
11-036042 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.20.943
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51420MH1985PTC036042 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMN09574F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACN1731C |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Steel. |
|
|
|
|
No. of Employees : |
100
[Approximately] |
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 1290000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject in an established company having satisfactory track. Trade
relations are reported as fair. 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. The Profit and Loss of the company is not available. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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 |
ICRA |
|
Rating |
A3 [Letter of Credit] |
|
Rating Explanation |
Having moderate degree of safety regarding timely payment of financial
obligation it carry higher credit risk.
|
|
Date |
May 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.
INFORMATION PARTED BY [GENERAL DETAILS]
|
Name : |
Ms. Nandini |
|
Designation : |
Office Executive |
|
Contact No.: |
91-22-61571234 |
|
Date : |
25.09.2012 |
LOCATIONS
|
Registered Office/ Factory : |
B-2/2 M I D C, Cpalkhed Road, Dindori, Nashik-422202, Maharashtra India |
|
Tel. No.: |
91-2557-952557 / 221996 / 221850 |
|
Fax No.: |
91-2557-221979 / 952557 |
|
E-Mail : |
|
|
Location : |
Owned |
|
|
|
|
Head Office : |
Garodia Market, ground Floor, Plot No.8, Dr. Sandhu Marg, Near Parel
Hotel, Chembur (East), Mumbai-400071, Maharashtra, India |
|
Tel. No.: |
91-22-61571234 |
|
Fax No.: |
91-22-61571230 |
|
E-Mail : |
|
|
|
|
|
City Office : |
19, Steelyard House, Sant Tukaram Road, Mumbai-400009, Maharashtra,
India |
|
Tel No.: |
91-22-23433143 / 23421038 |
|
|
|
|
Pune Office : |
449, Mangalwar Peth, Pune-411011, Maharashtra, India |
|
Tel No.: |
91-20-26126024 |
|
Fax No.: |
91-20-26121235 |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Atul Champshi Shah |
|
Designation : |
Director |
|
Address : |
A-14, Jayesh, |
|
Date of Birth/Age : |
28.09.1969 |
|
Date of Appointment : |
12.06.1999 |
|
Din No.: |
00400466 |
|
|
|
|
Name : |
Mr. Chetan Damji Lodaya |
|
Designation : |
Director |
|
Address : |
Yasotaraj Bunglow 1st Floor Maneshsha Nagar, Near Dwarka
Circle, Nasik – 422011, Maharashtra, India |
|
Date of Birth/Age : |
07.12.1970 |
|
Date of Appointment : |
01.12.2004 |
|
Din No.: |
00272236 |
|
|
|
|
Name : |
Champshi Manekji Shah |
|
Designation : |
Director |
|
Address : |
A-14, Jayesh, |
|
Date of Birth/Age : |
16.12.1943 |
|
Date of Appointment : |
12.06.1999 |
|
Din No.: |
00400338 |
KEY EXECUTIVES
|
Name : |
Ms. Nandini |
|
Designation : |
Office Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Amog Family Trust |
|
2200 |
|
Asha H. Mehta |
|
10 |
|
Atul Champshi Shah |
|
233828 |
|
Atul Champshi Shah HUF |
|
500 |
|
B. Raghuram |
|
10 |
|
Champshi Manekji Shah |
|
1269350 |
|
Champshi Manekji Shah HUF |
|
252800 |
|
Daksha S. Rawal |
|
10 |
|
Damyanti C. Shah |
|
174541 |
|
Girish Dhanji Momya |
|
10 |
|
Hansaben Praful Shah |
|
10 |
|
Harish D. Dand |
|
104304 |
|
Hasmukh M. Mehta |
|
10 |
|
J.J. Sales, Mumbai |
|
10 |
|
Jasmini A. Shah |
|
200 |
|
Jayesh Gala |
|
1 |
|
Kalpesh Pravin Mehta |
|
10 |
|
Kanjbhai Bhikaji Chauhan |
|
10 |
|
Kashiram B. Inamdar HUF |
|
10 |
|
Madhvi C. Shah |
|
14000 |
|
Mahesh G. Goradia |
|
100 |
|
Meghji Shivaji Mehta |
|
10 |
|
Nirmal Vasant Rajgor |
|
10 |
|
Parul Madhusudan Bhura |
|
10 |
|
Power Kid Trust, Mumbai |
|
10 |
|
Praful D. Dand |
|
5600 |
|
Pratap D. Dand |
|
36500 |
|
Pravin Vishnu Assurkar |
|
10 |
|
Rahul Khona |
|
10 |
|
Rajesh Raman |
|
20 |
|
Rajul Ashwin Doshi |
|
10 |
|
Ramesh Swamy |
|
10 |
|
Rupali Kisan Shinde |
|
10 |
|
Sunita K. Inamdar |
|
10 |
|
Sushilaben K. Raval |
|
10 |
|
Swati Sharad Mehta |
|
10 |
|
Techno Kid Trust, Mumbai |
|
10 |
|
Urja A. Shah |
|
10 |
|
Vasant M. Rajgor |
|
10 |
|
B. Shankar / B. Visalakhi and Balsubramanium and Balsubramanium and
Rukmani R. Ramswamy, Mumbai |
|
50 |
|
Vithal K Pai and Sarita V Pai |
|
2 |
|
Zankhana Himatlal Shah |
|
10 |
|
|
|
|
|
TOTAL
|
|
2094256 |
AS ON 30.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
99.87 |
|
Other
|
|
0.13 |
|
TOTAL |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Steel. |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
PRODUCTION STATUS [AS ON 31.03.2011]
|
Particulars |
Unit |
Actual
Production |
|
TMT Bars |
MT |
80718.388 |
|
Round Bars |
MT |
1095.916 |
|
C.I. Casting |
MT |
2160.045 |
GENERAL INFORMATION
|
Customers : |
Wholesaler and Retailers |
|||||||||||||||||||||||||||||||||
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|
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No. of Employees : |
100
[Approximately] |
|||||||||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||||||||
|
Bankers : |
Canara Bank, 112,
Jayachamarajendra Road, Bangalore-560002, Karnataka, India Branch: 77, Prabha, R B Mehata Road, Ghatkopar (East), Mumbai-400077,
Maharashtra, India |
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Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Sumaria and Sumaria Chartered Accountants |
|
Address : |
1, Mulund Vaibhav, |
|
Tel. No.: |
91-22-65616029 |
|
Fax No.: |
91-22-65540872 |
|
E-Mail : |
|
|
PAN NO: |
AAZFS7438M |
|
|
|
|
Related Parties
: |
·
Anchal Distributors Private Limited
[U51109MH2005PTC218341] ·
Eagle Rolling Mills Services |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2100000 |
Equity Shares |
Rs.10/- each |
Rs.21.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2094256 |
Equity Shares |
Rs.10/- each
|
Rs.20.943
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 |
20.943 |
20.943 |
97.319 |
|
|
2] Share Application Money |
159.069 |
86.431 |
0.000 |
|
|
3] Reserves & Surplus |
142.498 |
126.872 |
108.933 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
322.510 |
234.246 |
206.252 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
93.393 |
65.112 |
13.762 |
|
|
2] Unsecured Loans |
478.980 |
494.171 |
345.894 |
|
|
TOTAL BORROWING |
572.373 |
559.283 |
359.656 |
|
|
DEFERRED TAX LIABILITIES |
22.360 |
20.730 |
18.439 |
|
|
|
|
|
|
|
|
TOTAL |
917.243 |
814.259 |
584.347 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
295.737 |
312.223 |
332.487 |
|
|
Capital work-in-progress |
170.639 |
26.527 |
0.474 |
|
|
|
|
|
|
|
|
INVESTMENT |
3.450 |
6.351 |
13.066 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
206.940
|
130.524 |
27.378 |
|
|
Sundry Debtors |
387.784
|
393.470 |
293.347 |
|
|
Cash & Bank Balances |
3.723
|
48.957 |
2.236 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
66.597
|
67.162 |
41.839 |
|
Total
Current Assets |
665.044
|
640.113 |
364.800 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
201.503
|
152.464 |
119.593 |
|
|
Other Current Liabilities |
0.000
|
0.000 |
(6.288) |
|
|
Provisions |
16.152
|
18.533 |
13.232 |
|
Total
Current Liabilities |
217.655
|
170.997 |
126.537 |
|
|
Net Current Assets |
447.389
|
469.116 |
238.263 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.028 |
0.042 |
0.058 |
|
|
|
|
|
|
|
|
TOTAL |
917.243 |
814.259 |
584.347 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.45
|
3.12 |
2.35 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.05
|
3.74 |
2.88 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY CREDITORS:
|
Particulars |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
|
SUNDRY CREDITORS |
|
|
|
|
Creditors due
small micro enterprises |
167.668 |
46.637 |
|
|
Creditors due
others |
33.835 |
105.827 |
|
|
TOTAL |
201.503 |
152.464 |
119.593 |
|
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 |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last three years |
No |
|
12] |
Profitability for last three years |
No |
|
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 |
Yes |
|
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] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
CORPORATE RESULTS:-
This year marks
the Twenty Sixth Year of the Company. So, they are stepping into a new era of
growth. India, as a country, has moved from developing country to a much developed
country and an economy to which the world looks up to and hopes for as a growth
engine. Their Company has been at the corner stone of the entire change and has
benefited strongly from the same. Their reserves have grown from Rs.122.900
millions to Rs.142.900 millions. Their profit for the year stands at more than
Rs.22.000 millions with cash profit of more than Rs.41.000 millions. This year
has marked an increase in production. With the new capital expenditure they are
looking at modernization of their plant and reducing costs with increased
profitability. Their casting division has shown a constant growth and has
increased.
FUTURE EXPANSION:-
This year they
have taken a shutdown of two months in a portion of their melting unit and
enhanced the capacity in the same. As soon as their extra power sanction is
released, they will look for further enhancement in their production capacity.
They are also looking at establishing a Mega Project which has been duly
sanctioned by the Maharashtra State Government.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
80008597 |
|
Corporate
identity number of the company |
U51420MH1985PTC036042 |
|
Name of the
company |
MITC ROLLING
MILLS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
B-2/2 M I D C, Cpalkhed Road, Dindori, Nashik-422202, Maharashtra India |
|
Type of charge |
Book Debts Movable Property
(not being pledge) Floating Charge |
|
Particular of
charge holder |
Canara Bank, 112,
Jayachamarajendra Road, Bangalore-560002, Karnataka, India Branch: 77, Prabha, R B Mehata Road, Ghatkopar (East), Mumbai-400077,
Maharashtra, India |
|
Email |
|
|
Nature of
description of the instrument creating or modifying the charge |
Supplemental
Common Hypothecation Agreement |
|
Date of
instrument Creating the charge |
31.12.2011 |
|
Amount secured by
the charge |
Rs.425.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest For BULC
facility: Upto 90 days :
10.75% ( base rate ) 90 days to 180 days
: base rate + 0.75% (subject to
change as per banks policy from time to time) Terms of
Repayment Lump sum On
Demand Extent and
Operation of the charge The bank has
sanctioned an additional limit of Rs. 120.000 millions to the company thereby
enhancing the total limits from Rs. 305.000 millions to Rs. 425.000
millions. To secure the repayment of
the said enhanced limit along with interest, the company has extended the
charge created earlier in favour of the bank on its current assets by way of
hypothecation to cover the said enhanced limit of Rs. 425.000 millions. (last
hypothecation was done on 23.12.2009) |
|
Short particulars
of the property charged |
Hypothecation of
stocks, book debts and machinery of dated. 31.12.2011) |
|
Date of latest modification
prior to the present modification |
30.12.2011 |
|
Particulars of
the present modification |
The bank has
sanctioned an additional limit of Rs. 120.000 millions to the company thereby
enhancing the total limits from Rs. 305.000 millions to Rs. 425.000
millions. To secure the repayment of
the said enhanced limit along with interest, the company has extended the
charge created earlier in favour of the bank on its current assets by way of
hypothecation to cover the said enhanced limit of Rs. 425.000 millions. (last
hypothecation was done on 23.12.2009) |
FIXED ASSETS:
- Goodwill
- Land
- Flat
- Furniture and
Fixture
- Plant and
Machinery
- Lab
Equipments
- Office
Equipments
- Xerox Machine
- Fax Machine
- Telephone
- Typewriter
- Air Condition
- Mobile Phone
- Dumper
- Motor Car
- Motor Cycle
- Truck
- Computer
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.53.53 |
|
|
1 |
Rs.86.82 |
|
Euro |
1 |
Rs.69.03 |
INFORMATION DETAILS
|
Information Gathered
by : |
PJA |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--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 |
YES |
|
--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 |
|
- |
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.