MIRA
INFORM REPORT
|
Report Date : |
06.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
ASSOCIATED CABLES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
2nd Floor, Ajanta House, 35, Marol Co-operative Industrial
Estate, |
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|
|
|
Country : |
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|
|
|
Financials (as
on) : |
31.03.2012 |
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|
|
|
Date of
Incorporation : |
27.07.1973 |
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Com. Reg. No.: |
11-016713 |
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Capital
Investment / Paid-up Capital : |
Rs. 61.262 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31300MH1973PTC016713 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMA22455G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCA2809H |
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|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Instrumentation and Control Cables. |
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|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 800000 |
|
|
|
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a moderate track record.
Profitability appears to be very low during 2012. However, trade relations are
reported as fair. Business is active. Payments are reported to be slow but
correct. The company can be considered for business dealings with some caution. |
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 |
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/ Corporate Office : |
2nd Floor, Ajanta House, 35, Marol Co-operative Industrial
Estate, |
|
Tel. No.: |
91-22-40563400 |
|
Fax No.: |
91-22-40563419 |
|
E-Mail : |
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|
Website : |
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Factory : |
C-9, MIDC Industrial Estate, Kherdi, Taluka Chiplun, District Ratnagiri
- 415604, Maharashtra, India |
|
Tel. No.: |
91-2355-256336 |
|
Fax No.: |
91-2355-256336 |
|
E-Mail : |
|
|
|
|
|
Representative Office 1 : |
1-67-27/9, Sree Gurudatta Nivas, Plot No. 4, Sector 2, MVP Colony,
Vaizag-530017, Andhra Pradesh, India |
|
Tel No.: |
91-891-2532978 |
|
Fax No.: |
91-891-2544595 |
|
Email: |
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|
Representative Office 2 : |
1-B, Kachinakuppam, Pillayar Koil Road, Ambattur Industrial Estate,
Chennai-600098, Tamilnadu, India |
|
Email: |
DIRECTORS
As on: 12.09.2012
|
Name : |
Mr. Manoj Manohar Vaidya |
|
Designation : |
Nominee Director |
|
Address : |
A/8, Krishnakunj, Paanchpakadi, Thane - 400602, Maharashtra, India |
|
Date of Birth/Age : |
11.05.1958 |
|
Date of Appointment : |
12.09.2012 |
|
DIN No.: |
01723414 |
|
|
|
|
Name : |
Mr. Hussain Salman Ghulam Al Lawati |
|
Designation : |
Director |
|
Address : |
House 2509, Way2305, Beit Al Palaj – 123, |
|
Date of Birth/Age : |
05.05.1955 |
|
Date of Appointment : |
18.03.2006 |
|
DIN No.: |
02067838 |
|
|
|
|
Name : |
Mr. Nadir Habib Khambatta |
|
Designation : |
Director |
|
Address : |
Sun and Sea Apartments, Flat No. 10A, Near Royal Hotel, Juhu Tara
Road, Mumbai – 400049, Maharashtra, India |
|
Date of Birth/Age : |
26.04.1955 |
|
Date of Appointment : |
13.03.2008 |
|
PAN No.: |
AADPK9198G |
|
DIN No.: |
02141968 |
|
|
|
|
Name : |
Mr. Mahmut Tayfun Anik |
|
Designation : |
Nominee director |
|
Address : |
31, Str, Privata Della, Chiocciola, Carimate Co - 22060 |
|
Date of Birth/Age : |
03.03.1953 |
|
Date of Appointment : |
12.09.2012 |
|
DIN No.: |
06377919 |
|
|
|
|
Name : |
Mr. Frank Franciscus Fred Dorjee |
|
Designation : |
Director |
|
Address : |
Heidelaantje 3, 1272 PE Huizen, The Netherlands - 1272 |
|
Date of Birth/Age : |
02.08.1960 |
|
Date of Appointment : |
12.12.2011 |
|
DIN No.: |
05140307 |
|
|
|
|
Name : |
Mr. Michael Francis Yong Montejo |
|
Designation : |
Alternate director |
|
Address : |
De Noord, 17, 1452 PS Ilpendam 1452 |
|
Date of Birth/Age : |
08.12.1974 |
|
Date of Appointment : |
04.12.2012 |
|
DIN No.: |
06429163 |
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|
|
|
Name : |
Mr. Jehangir H. Pardiwalla |
|
Designation : |
Alternate director |
|
Address : |
7A/29 Navjivan Society, Lamington Road, Mumbai – 400008, Maharashtra,
India |
|
Date of Birth/Age : |
27.09.1963 |
|
Date of Appointment : |
04.12.2012 |
|
DIN No.: |
03219037 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 12.09.2012
|
Names of Shareholders |
No. of Shares |
|
Draka UK Group Limited, England |
198385 |
|
Draka Treasury BV, The Netherlands |
169186 |
|
Oman Cables Industry, Oman, Muscat |
245048 |
|
TOTAL |
612619 |
Equity Share Break up (Percentage of Total Equity)
As on: 12.09.2012
|
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 |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Instrumentation and Control Cables. |
||||
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||||
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Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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|
Bankers : |
Not Available |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
Lovelock and Lewes Chartered Accountant |
|
Address : |
252, Veer Savarkar Marg, Shivaji Park, Dadar, Mumbai – 400028, Maharashtra, India |
|
PAN.: |
AABFL5878L |
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Memberships : |
|
|
|
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|
Other related
parties where transactions where transactions have taken place during the
year : |
Draka Holding N V, Netherlands |
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|
|
|
Parties where
control exists: |
Investing Companies · Draka UK Group Limited, United Kingdom · Draka Treasury BV, Netherlands · Oman Cables Industry, Oman |
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1250000 |
Equity Shares |
Rs.100/- each |
Rs. 125.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
612619 |
Equity Shares |
Rs.100/-
each |
Rs. 61.262
Millions |
|
|
|
|
|
(a) Rights, preferences and restrictions attached to shares. The company has one class of equity shares having a par value of Rs.100 per share. Each shareholder is eligible for one vote per share held. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting, except in case of interim dividend. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.
(b) Reconciliation of
number of shares
|
|
Number of shares |
Amount in millions |
|
Balance as at the beginning of the year |
612619 |
61.262 |
|
Add: Shares issued during the year |
- |
- |
|
Balance at the end of the year |
612619 |
61.262 |
(c) Details of shares
held by shareholders holding more than 5% of the aggregate shares in the
Company
|
|
Number of shares |
Percentage of holding |
|
Draka UK Group Limited, United Kingdom |
198385 |
32.00 |
|
Draka Treasury BV, Netherlands |
169186 |
28.00 |
|
Oman Cables Industy |
245048 |
40.00 |
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 |
61.262 |
61.262 |
61.262 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
153.575 |
153.521 |
235.497 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
(91.187) |
|
|
NETWORTH |
214.837 |
214.783 |
205.572 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
12.896 |
20.888 |
40.176 |
|
|
TOTAL BORROWING |
12.896 |
20.888 |
40.176 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
227.733 |
235.671 |
245.748 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
77.522 |
82.157 |
92.735 |
|
|
Capital work-in-progress |
13.706 |
5.119 |
1.636 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
1.625 |
1.216 |
0.043 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
62.723
|
47.339
|
26.427
|
|
|
Sundry Debtors |
51.461
|
85.124
|
32.648
|
|
|
Cash & Bank Balances |
34.584
|
26.733
|
87.336
|
|
|
Other Current Assets |
1.612
|
0.333
|
0.000
|
|
|
Loans & Advances |
27.167
|
25.065
|
22.823
|
|
Total
Current Assets |
177.547
|
184.594
|
169.234
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
28.406
|
27.694
|
11.655 |
|
|
Other Current Liabilities |
12.270
|
7.916
|
4.938
|
|
|
Provisions |
1.991
|
1.805
|
1.307
|
|
Total
Current Liabilities |
42.667
|
37.415
|
17.900
|
|
|
Net Current Assets |
134.880
|
147.179
|
151.334
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
227.733 |
235.671 |
245.748 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
437.840 |
396.030 |
303.840 |
|
|
|
Other Income |
9.240 |
15.700 |
20.610 |
|
|
|
TOTAL (A) |
447.080 |
411.730 |
324.450 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
432.890 |
388.090 |
320.160 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
432.890 |
388.090 |
320.160 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
14.190 |
23.640 |
4.290 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1.340 |
1.730 |
2.820 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
12.850 |
21.910 |
1.470 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
12.800 |
13.480 |
12.180 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
0.050 |
8.430 |
(10.710) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
(0.760) |
(0.020) |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
0.050 |
9.190 |
(10.690) |
|
|
|
|
|
|
|
|
|
Add |
PRIOR PERIOD
ADJUSTMENTS |
0.000 |
0.020 |
(8.000) |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) AFTER ADJUSTMENTS |
0.050 |
9.210 |
(18.690) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
109.420 |
226.790 |
NA |
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
0.09 |
15.04 |
(31.00) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.01
|
2.23 |
(3.29)
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.01
|
2.13 |
(3.52)
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.02
|
3.16 |
(4.09)
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02
|
0.04 |
(0.05)
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.06
|
0.09 |
0.19
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.16
|
4.93 |
9.45
|
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 |
No |
|
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
NOTE:
The registered office of the company has been shifted from 29 Marol Cooperative Industrial Estate, M. V. Road
Andheri (East), Mumbai – 400059, Maharashtra, India to present address w.e.f. 20.11.2007
PERFORMANCE:
The Company has achieved net sales of Rs. 437.840 Millions for the financial year 2011-12, registering a growth of 10.56% over the previous year.
The Company during the financial year 2011-12, saw significant improvement in domestic sales at Rs. 320.280 Millions registering an increase of 99%, while the export sales was at Rs. 109.420 Millions. The profit before tax and adjustments for the financial year 2011-12 is Rs. 0.050 Millions as against a profit of Rs. 8.430 Millions during the previous year.
OPERATIONS:
Amidst a turbulent global and domestic economic environment, the year 2011-12 witnessed low growth in many sectors, affecting the business outlook adversely. The demand for cables was severely curtailed by economic slowdown and delay in execution of infrastructure projects. A high inflation rate and rising oil prices further added to the input costs, distribution costs and overhead costs increase, resulting in low margins and thus profitability.
The Company is exposed to the risk of price fluctuation on raw materials, as well as currency fluctuations on exports. The Company proactively manages risks in input costs through timely raw material price fixing, and through forward booking of currency contracts against export receipts.
FUTURE OUTLOOK:
Going forward, the Company will continue to make investments to de-bottle neck, and expand capacity to increase its market share, and to offer better delivery periods to its esteemed customer base. With this objective, the Company continues to make capital investments in order to seize growth opportunities.
The systematic focus on building a wider and deeper customer base across geographies is one dimension of how the Company is building its sales reach.
UNSECURED LOAN
(Rs in Millions)
|
Particular |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
Deferred sales tax loan |
12.896 |
20.888 |
|
Total |
12.896 |
20.888 |
|
|
|
|
FIXED ASSETS
· Land
· Buildings
· Factory building
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Office equipment
· Computer equipments
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 governmen 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. 54.88 |
|
|
1 |
Rs. 83.54 |
|
Euro |
1 |
Rs. 70.90 |
INFORMATION DETAILS
|
Report Prepared
by : |
UDS |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
28 |
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.