1. Summary Information
|
Country |
|
||
|
Company Name |
MERCURY
MANUFACTURING COMPANY LIMITED |
Principal Name 1 |
Mr. Percy Eruch Fouzdar |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Phiroze Dinshaw Lam |
|
Registration # |
18-23748 |
||
|
Street Address |
Plot No. D - 3, |
||
|
Established Date |
11.11.1992 |
SIC Code |
-- |
|
Telephone# |
91-44-22628002/ 22628593 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-44-22628344 |
Business Style 2 |
- |
|
Homepage |
Product Name 1 |
Filling Cabinet And Other Office Equipment |
|
|
# of employees |
Not Available |
Product Name 2 |
Steel Furniture For Office Use |
|
Paid up capital |
Rs.
37,500,000/- |
Product Name 3 |
- |
|
Shareholders |
Foreign Holdings - 58.10% Bodies Corporate - 41.90% |
Banking |
Indian Bank Punjab National
Bank |
|
Public Limited Corp. |
No |
Business Period |
19 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
Ba (43) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
C.E.O |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
83,042,000 |
Current Liabilities |
26,016,000 |
|
Inventories |
48,887,000 |
Long-term Liabilities |
10,925,000
|
|
Fixed Assets |
46,223,000 |
Other Liabilities |
5,677,000 |
|
Deferred Assets |
0.000 |
Total Liabilities |
42,618,000 |
|
Invest& other Assets |
134,000 |
Retained Earnings |
98,168,000 |
|
|
|
Net Worth |
135,668,000 |
|
Total Assets |
178,286,000 |
Total Liab. & Equity |
178,286,000 |
|
Total Assets (Previous Year) |
185,517,000 |
|
|
|
P/L Statement as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Sales |
258,984,000 |
Net Profit |
569,000 |
|
Sales(Previous yr) |
239,638,000 |
Net Profit(Prev.yr) |
9,038,000 |
|
Report Date : |
04.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
MERCURY MANUFACTURING COMPANY LIMITED |
|
|
|
|
Registered
Office : |
Plot No. D – 3, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
11.11.1992 |
|
|
|
|
Com. Reg. No.: |
18-023798 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 37.500 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28112TN1992PLC023798
|
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Quality Flat Pack Metal Furniture for Office and
Industry. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 540000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record.
There appears drastic fall in the profitability during the current year.
However, general financial position seems to be good. Trade relations are
reported as fair. Business is active. Payments are reported to be usually
correct and as per commitment. The company can be considered normal for business dealings at usual
trade terms and condition. |
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
|
Source
: CIA |
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 : |
Plot No. D – 3, |
|
Tel. No.: |
91-44-22628002/ 22628593/23474103 |
|
Fax No.: |
91-44-22628344/23475190 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branch 1 : |
|
|
Tel. No.: |
61-(0)7-3715 6899 |
|
Fax No.: |
61-(0)7-3715 6877 |
|
E-Mail : |
|
|
|
|
|
Branch 2 : |
|
|
Tel. No.: |
44-(0)-1536 418341 |
|
Fax No.: |
44-(0)-1536 711387 |
|
E-Mail : |
|
|
|
|
|
Branch 3 : |
North America ,South America, Central America and |
|
Tele Fax No.: |
1-905-338 6776 |
|
E-Mail : |
DIRECTORS
As on : 30.05.2012
|
Name : |
Mr. Percy Eruch Fouzdar |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
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|
Address : |
B-13, Godrej Baug, Off |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
17.06.1956 |
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|
Date of Appointment : |
25.11.1994 |
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|
DIN No.: |
00066123 |
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Other Directorship:
|
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|
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|
Name : |
Mr. Phiroze Dinshaw Lam |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
21/23, |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
06.03.1945 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
01.04.1997 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00066218 |
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Other Directorship:
|
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|
|
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|
Name : |
Mr. Ramohalli Kapanipathi Shankar |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Managing Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
New No. 16, Old No. 11, First Cross Street, Indira Nagar, Chennai
600020, Tamilnadu, India |
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|
Date of Birth/Age : |
07.03.1948 |
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|
Date of Appointment : |
01.01.2012 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00135499 |
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|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Kyamas Ardeshir Palia |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Date of Birth/Age : |
22.11.1945 |
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Date of Appointment : |
11.11.1992 |
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DIN No.: |
00281971 |
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Other Directorship:
|
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on : 30.05.2012
|
Names of Shareholders |
No. of Shares |
|
Steel Seal Equipment Limited |
1867500 |
|
Godrej (S). PTE. Limited |
311250 |
|
Godrej and Boyce Manufacturing Company Limited |
1571246 |
|
Palia Ardeshir Kyamas |
1 |
|
Percy Erach Fouzdar |
1 |
|
Ramohalli Kapanipathi Shankar |
1 |
|
Phiroze Dinshaw Lam |
1 |
|
Total |
3750000 |
Equity
Share Break up (Percentage of Total Equity)
As on : 30.05.2012
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
58.10 |
|
Bodies corporate |
41.90 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Quality Flat Pack Metal Furniture for Office and
Industry. |
||||||
|
|
|
||||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||
|
|
|
|||||||||
|
Bankers : |
·
Indian Bank, MEPZ – SEZ, Tambaram, Chennai – 600
045, ·
Punjab National Bank, |
|||||||||
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|
|
|||||||||
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Facilities : |
|
|
|
|
|
Auditors : |
|
|
Name : |
Kalyaniwalla and Mistry Chartered Accountants |
|
Address : |
No.102, 2nd Floor, |
|
PAN No.: |
AAAFK7554R |
|
|
|
|
Related Parties : |
· Godrej and Boyce
Manufacturing Company Limited, · Godrej Infotech
Limited, · Godrej ( |
CAPITAL STRUCTURE
As on : 30.05.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
14000000 |
Equity Shares |
Rs. 10/-each |
Rs. 140.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3750000 |
Equity Shares |
Rs. 10/-each |
Rs. 37.500 Millions |
|
|
|
|
|
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 |
37.500 |
37.500 |
37.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
98.168 |
97.599 |
90.740 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
135.668 |
135.099 |
128.240 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
10.925 |
15.672 |
16..585 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
10.925 |
15.672 |
16.585 |
|
|
DEFERRED TAX LIABILITIES |
5.240 |
5.656 |
6.070 |
|
|
|
|
|
|
|
|
TOTAL |
151.833 |
156.427 |
150.895 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
46.223 |
50.180 |
55.516 |
|
|
Capital work-in-progress |
0.134 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
7.537 |
6.203 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
48.887
|
55.855 |
36.342 |
|
|
Sundry Debtors |
50.923
|
43.765 |
49.307 |
|
|
Cash & Bank Balances |
13.048
|
17.807 |
9.557 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
19.071
|
10.372 |
11.475 |
|
Total
Current Assets |
131.929
|
127.799 |
106.681 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
14.038
|
18.104 |
6.858 |
|
|
Other Current Liabilities |
11.978
|
8.268 |
7.937 |
|
|
Provisions |
0.437
|
2.717 |
2.710 |
|
Total
Current Liabilities |
26.453
|
29.089 |
17.505 |
|
|
Net Current Assets |
105.476
|
98.710 |
89.176 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
151.833 |
156.427 |
150.895 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
258.984 |
239.638 |
193.253 |
|
|
|
Other Income |
1.494 |
5.456 |
2.956 |
|
|
|
TOTAL |
260.478 |
245.094 |
196.209 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
146.339 |
142.744 |
108.650 |
|
|
|
Changes in inventories of finished goods |
2.246 |
82.973 |
70.965 |
|
|
|
Employee benefits expenses |
26.256 |
0.000 |
0.000 |
|
|
|
Operating expenses |
67.607 |
(2.511) |
1.266 |
|
|
|
TOTAL |
242.448 |
223.206 |
180.881 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
18.030 |
21.888 |
15.328 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
2.740 |
1.727 |
1.002 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) |
15.290 |
20.161 |
14.326 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
6.838 |
6.866 |
6.011 |
|
|
|
|
|
|
|
|
|
Less |
EXCEPTIONAL
ITEMS |
7.737 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
0.715 |
13.295 |
8.315 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.145 |
4.257 |
2.891 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
0.569 |
9.038 |
5.424 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
0.000 |
53.240 |
51.010 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Final Dividend |
0.000 |
1.875 |
1.875 |
|
|
|
Corporate Dividend Tax |
0.000 |
0.304 |
0.319 |
|
|
|
Transfer to General Reserve |
0.000 |
1.000 |
1.000 |
|
|
BALANCE CARRIED
TO THE B/S |
0.000 |
59.099 |
53.240 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
0.000 |
221.548 |
181.865 |
|
|
|
Ocean freight and insurance |
0.000 |
5.870 |
4.201 |
|
|
|
Pre and post shipment services |
0.000 |
0.554 |
0.230 |
|
|
TOTAL EARNINGS |
0.000 |
227.972 |
186.296 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
100.375 |
70.038 |
45.186 |
|
|
|
Stores & Spares |
0.475 |
3.039 |
2.359 |
|
|
|
Capital Goods |
0.000 |
0.374 |
11.214 |
|
|
TOTAL IMPORTS |
100.850 |
73.451 |
58.759 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
Basic |
0.15 |
2.41 |
1.45 |
|
|
|
Diluted |
0.15 |
2.41 |
1.45 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.22
|
3.77 |
2.81 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.27
|
5.42 |
4.24 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.40
|
7.47 |
5.12 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.01
|
0.10 |
0.06 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.08
|
0.12 |
0.13 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.99
|
4.39 |
6.09 |
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 |
Yes |
|
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 |
No |
|
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 |
No |
FIXED ASSETS:
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 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. 54.64 |
|
|
1 |
Rs. 82.41 |
|
Euro |
1 |
Rs. 70.08 |
INFORMATION DETAILS
|
Report Prepared
by : |
|
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
43 |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors and their relative weights (as
indicated through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NB |
NEW BUSINESS |
||
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.