MIRA INFORM REPORT
|
Report Date : |
05.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
ASHOK GRANITES LIMITED (w.e.f. 28.04.1992) |
|
|
|
|
Formerly Known
As : |
ASHOK GRANITES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
4/35, |
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|
|
Country : |
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|
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|
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Financials (as
on) : |
31.03.2012 |
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|
|
|
Date of
Incorporation : |
13.11.1991 |
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|
|
|
Com. Reg. No.: |
18-007127 |
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|
|
Capital
Investment / Paid-up Capital : |
Rs.11.250 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U14102TZ1991PLC007127 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHEA08095D |
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|
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Legal Form : |
Closely held public limited liability company. |
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Line of Business
: |
Manufactures granite monuments and slabs. |
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|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 700000 |
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|
|
Status : |
Good |
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|
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a part of ‘The Ashok Group’. It is an established company
having a fine track record. Performance capability is high and financial
strength is good. Trade relations are decent. Business is active. Payments
are reported to be regular and as per commitments. The company can be considered good 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 |
CRISIL |
|
Rating |
A2 (Short Term Rating) |
|
Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
09.11.2012 |
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/ Corporate Office : |
4/35, |
|
Tel. No.: |
91-427-2447645 / 2448490 / 2345456 / 2345572 |
|
Fax No.: |
91-427-2446223/ 2448744 |
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E-Mail : |
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Website : |
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Factory 1 : |
15/1, Jagirammapalayam, Mamangam, Salem – 636302, Tamilnadu, India |
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Factory 2 : |
63/1-C, Vellakkalpatty, Chetichavadi, Omalur, Salem - 636012,
Tamilnadu, India |
DIRECTORS
As on: 29.09.2012
|
Name : |
Mr. Duraisamy Krishnan |
|
Designation : |
Whole Time Director |
|
Address : |
Old No. 2/65, B3, New No. 129/5, 11th cross, Silvaya Nagar,
Alagapuram, Salem-636016, |
|
Date of Birth/Age : |
30.07.1967 |
|
Qualification : |
B.E. |
|
Experience : |
01.02.1998 |
|
Date of Appointment : |
01.02.1998 |
|
DIN No.: |
00047686 |
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|
|
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Name : |
Mr. Appichiounder Mani |
|
Designation : |
Director |
|
Address : |
2/55-5, 3rd Cross, II Main Road, Shivaya Nagar,
Reddiyur, Salem – 636016, Tamilnadu,
India |
|
Date of Birth/Age : |
18.07.1956 |
|
Qualification : |
B.A. |
|
Date of Appointment : |
05.05.1995 |
|
DIN No.: |
01982414 |
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|
|
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Name : |
Ms. Muthusamy Baby Saroja |
|
Designation : |
Director |
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Address : |
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Date of Birth/Age : |
15.12.1954 |
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Qualification : |
B.S.C |
|
Date of Appointment : |
13.11.1991 |
|
DIN No.: |
00047539 |
MAJOR SHAREHOLDERS
As on: 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
M Baby Saroja |
|
114100 |
|
D. Krishnan |
|
100 |
|
A Mani |
|
100 |
|
S. Muthurajan |
|
722700 |
|
GTP Exports Private Limited, |
|
35000 |
|
M. Ashok Raj |
|
74700 |
|
M. Ramya |
|
92500 |
|
M. Divya |
|
7500 |
|
S. Pavayammnal |
|
78300 |
|
Total |
|
1125000 |
Equity Share Break up (Percentage of Total Equity)
As on: 29.09.2012
|
Category |
Percentage |
|
Bodies corporate |
3.11 |
|
Directors or relatives of Directors |
89.93 |
|
Other top fifty shareholders |
6.96 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufactures granite monuments and slabs. |
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Products : |
·
Granite ·
Monuments ·
Slabs
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GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
(Rs.
In Millions)
LONG-TERM
BORROWINGS Secured by Equitable Mortgage of Factory Land, Buildings and hypothecation of plant and machinery, and other moveable assets and personally guaranteed by the directors. Carries interest rate of 13.75% p.a and repayable over 63 monthly instalments from the date of the loan. Secured by hypothecation of relevant asset. Carries interest rate of around 9.49% to 9.50% p.a. Repayable in 35 monthly instalments from the date of loan. Secured by hypothecation of relevant asset. Carries interest rate of around 9.50% to 10.00% p.a. Repayable in 12 and 36 monthly instalments from the date of loan. SHORT-TERM
BORROWINGS Secured by hypothecation of stocks, book debts, other
moveable assets, plant and machinery, and equitable mortgage of factory land
and building and personally guaranteed by the directors. Carries interest
rate of around 10.5% to 12 % p.a. |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Bala and Sakthi Chartered Accountants |
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Address : |
7AA |
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Tel. No.: |
91-427-2210676/2212718 |
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PAN No.: |
AACFB2800R |
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Associate: |
GTP Finance Limited |
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Enterprises owned by key managerial personal/ relative of key
managerial personnel: |
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Subsidiaries : |
Granite and Tombstone Products Inc |
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1500000 |
Equity Shares |
Rs.10/- each |
Rs.15.000 Millions |
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|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1125000 |
Equity Shares |
Rs.10/- each |
Rs.11.250
Millions |
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|
|
|
Reconciliation of the
shares outstanding at the beginning and at the end of the reporting period
(Rs. In Millions)
|
Equity shares |
31 March 2012 |
|
|
|
Numbers of Shares |
Amount |
|
At the beginning of the period |
11,25,000 |
11.250 |
|
Issued during the year |
- |
- |
|
Outstanding at the
end of the period |
11,25,000 |
11.250 |
Terms/rights attached
to equity shares
The company has only one class of equity shares having a par value of Rs.10/- per share. Each holder of equity shares is entitled to one vote per share. The company declares and pays dividends in Indian rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting.
During the year ended 31 March 2012, the amount of per share dividend recognized as distributions to equity shareholders was Nil.
Details of
shareholders holding more than 5% shares in the company
|
|
31 March 2012 |
|
|
Particulars |
Number of Shares |
% holding in the class |
|
Equity shares of
Rs.10 each fully paid |
|
|
|
S Muthurajan |
722700 |
64.24% |
|
M.Baby Saroja |
114100 |
10.14% |
|
M.Ashok raj |
74700 |
6.64% |
|
M.Ramya |
92500 |
8.22% |
|
S.Pavayammal |
78300 |
6.96% |
As per of the company, including its register of shareholders/members and other declarations received from shareholders regarding beneficial interest, the above shareholding represents both legal and beneficial ownerships of shares.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
11.250 |
11.250 |
11.250 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
164.688 |
156.660 |
149.104 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
175.938 |
167.910 |
160.354 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
194.347 |
204.880 |
90.971 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
194.347 |
204.880 |
90.971 |
|
|
DEFERRED TAX LIABILITIES |
9.162 |
10.632 |
11.969 |
|
|
|
|
|
|
|
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TOTAL |
379.447 |
383.422 |
263.294 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
98.845 |
96.832 |
76.757 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
5.598 |
5.598 |
5.598 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
89.125
|
69.851 |
34.884
|
|
|
Sundry Debtors |
120.474
|
148.828 |
92.945
|
|
|
Cash & Bank Balances |
4.226
|
7.606 |
6.037
|
|
|
Other Current Assets |
0.000
|
0.000 |
0.000
|
|
|
Loans & Advances |
91.642
|
79.283 |
68.544
|
|
Total
Current Assets |
305.469
|
305.568 |
202.410 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
4.228
|
5.593 |
10.435
|
|
|
Other Current Liabilities |
25.363
|
17.692 |
8.095
|
|
|
Provisions |
0.872
|
1.291 |
2.941
|
|
Total
Current Liabilities |
30.463
|
24.576 |
21.471 |
|
|
Net Current Assets |
275.006
|
280.992 |
180.939
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
379.447 |
383.422 |
263.294 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operation |
396.734 |
342.810 |
268.827 |
|
|
|
Income from Wind Mill Generation |
0.000 |
0.000 |
3.554 |
|
|
|
Other Income |
1.227 |
4.106 |
3.771 |
|
|
|
TOTAL (A) |
397.961 |
346.916 |
276.152 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of raw material and components Consumed |
123.451 |
|
246.914 |
|
|
|
Purchase of stock in trade |
78.519 |
56.408 |
|
|
|
|
Changes in inventories of finished goods, work in progress and stock in trade |
(12.413) |
(14.397) |
|
|
|
|
Employee benefits expense |
30.424 |
29.872 |
|
|
|
|
Other expenses |
132.648 |
126.334 |
|
|
|
|
TOTAL (B) |
352.629 |
314.367 |
246.914 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
45.330 |
32.550 |
29.238 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
24.374 |
14.518 |
8.747 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
20.956 |
18.032 |
20.491 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
11.598 |
9.126 |
10.550 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
9.358 |
8.906 |
9.941 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.330 |
1.351 |
0.001 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
8.028 |
7.555 |
9.940 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
109.494 |
99.554 |
99.554 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
117.049 |
109.494 |
109.484 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Exports on FOB basis |
374.529 |
329.478 |
267.778 |
|
|
|
Insurance and freight |
0.466 |
0.139 |
0.146 |
|
|
TOTAL EARNINGS |
374.995 |
329.617 |
267.924 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Rough Granite Blocks |
10.452 |
7.825 |
1.283 |
|
|
|
Polishing materials and consumable spares |
4.495 |
4.521 |
7.866 |
|
|
|
Machinery spares |
0.591 |
1.435 |
0.849 |
|
|
TOTAL IMPORTS |
15.538 |
13.781 |
9.998 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
7.14 |
6.72 |
8.84 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
2.02
|
2.18 |
3.60
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.36
|
2.60 |
3.70
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.31
|
2.21 |
3.56
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05
|
0.05 |
0.06
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.10
|
1.22 |
0.57
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
10.03
|
12.43 |
9.43
|
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 |
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 |
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 |
OPERATIONS:
During the year the company registered a turnover of 396.700 Millions and a Net Profit of 8.028 Millions after providing for interest, depreciation, tax and also other provisions.
CONTINGENT LIABILITY
AS ON 31.03.2012
(Rs. in Millions)
|
Particulars |
Amount |
Amount |
|
Import Letter of Credit and Bank Guarantee |
1.715 |
1.715 |
|
Disputed Excise duty |
0.053 |
0.053 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U14102TZ1991PLC007127 |
|
Name of the
company |
ASHOK GRANITES
LIMITED |
|
Address of the
registered office or of the principal place of business in |
4/35, Bharathi Street, Swarnapuri, Salem – 636004, Tamil Nadu, India |
|
This form is for |
Creation of charge |
|
Type of charge |
|
|
Particular of
charge holder |
DBS Bank Limited, 24, Yercaud Road, Salem – 636008, Tamil Nadu, India |
|
Nature of
instrument creating charge |
Deed of
Hypothecation Dated 18-07-2012 |
|
Date of
instrument Creating the charge |
18.07.2012 |
|
Amount secured by
the charge |
Rs.50.000
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest As per sanctioned
terms Terms of Repayment As per sanctioned
terms Margin 25% of
Hypothecated Goods and Book Debts Extent and Operation of the charge 100% |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Goods being
finished goods, semifinished goods, stocks of Raw materials, WIP located at
various factories / warehouses /
godowns of the Borrower and whether in transit or lying at any other place The Borrowers
present and future book debts, outstanding monies receivables, claims, bills,
contracts, engagements, securities, investments, rights and assets. |
FIXED ASSETS:
- Land
- Building
- Plant and Machinery
- Electrical Installations
- Furniture and Fixture
- Fittings
- Vehicles
- Office Equipment
- Computer
- Wind Electric Generator
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.54.65 |
|
|
1 |
Rs.82.41 |
|
Euro |
1 |
Rs.70.08 |
INFORMATION DETAILS
|
Report Prepared
by : |
RAJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
--DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
54 |
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.