MIRA
INFORM REPORT
|
Report Date : |
10.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
ORANGE CITY STEEL INDUSTRIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
215, Small Factory Area, Bagadganj, Nagpur – 440008, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
20.07.1998 |
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Com. Reg. No.: |
11-115887 |
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Capital Investment
/ Paid-up Capital : |
Rs. 40.002 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27204MH1998PTC115887 |
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|
|
PAN No.: [Permanent Account No.] |
AAACO4376N |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Steel Re-Rolled Products |
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|
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 720000 |
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a satisfactory track record.
There appears slight dip in profitability during the year 2012. However, general financial position is good. Performance capability is
high. Trade relations are reported to be fair. Business is active. Payments
are reported to be usually correct and as per commitment. The company can be considered for normal 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) |
|
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 / Head Office : |
215, Small Factory
Area, Bagadganj, Nagpur – 440008, Maharashtra, India |
|
Tel. No.: |
91-712-2760589 / 2762802 |
|
Fax No.: |
91-712-2765004 / 2770401 |
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E-Mail : |
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Website : |
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Factory : |
Ranala, Old Kamptee Road, Kamptee, Nagpur – 441001, Maharashtra, India |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Ashish Prafullachandra Doshi |
|
Designation : |
Director |
|
Address : |
118-B, Park Avenue, Bhiwanpurkar Road, Dhantoli, Nagpur – 440012,
Maharashtra, India |
|
Date of Birth/Age : |
15.01.1981 |
|
Date of Appointment : |
24.12.2004 |
|
DIN No.: |
00558775 |
|
|
|
|
Name : |
Mr. Rajendrakumar Bhogilal Doshi |
|
Designation : |
Director |
|
Address : |
Arihant, Behind Amardeep Cinema, Itwari, Nagpur – 440002, Maharashtra,
India |
|
Date of Birth/Age : |
20.11.1957 |
|
Date of Appointment : |
01.09.2001 |
|
DIN No.: |
01399980 |
|
|
|
|
Name : |
Mr. Hardik Bharat Doshi |
|
Designation : |
Director |
|
Address : |
Plot No.62, Bhiwapurkar Road, Dhantoli, Nagpur – 440012, Maharashtra,
India |
|
Date of Birth/Age : |
31.12.1985 |
|
Date of Appointment : |
27.12.2008 |
|
DIN No.: |
02503096 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Nagpur Industrial Suppliers Private Limited, India |
|
50000 |
|
Surmanju Securities Private Limited, India |
|
50000 |
|
Bhogilal R. Doshi S/o Shri. Raichand Doshi |
|
7000 |
|
Prafulchandra Doshi S/o Shri. Bhpgilql Doshi |
|
20000 |
|
Bharatkumar Doshi S/o Shri. Bhogilal Doshi |
|
5010 |
|
Rajendrakumar Doshi S/aShri. Bhogilal Doshi |
|
5010 |
|
Vinaben Doshi |
|
1000 |
|
Nilaben Doshi |
|
1000 |
|
Kalpana Doshi |
|
1000 |
|
Dolly Weigh Bride Private Limited, India |
|
160000 |
|
Hardik Steels Private Limited, Indai |
|
100000 |
|
Total |
|
400020 |
As on 29.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
89.99 |
|
Directors or relatives of Directors |
10.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Steel Re-Rolled Products |
||||
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Products : |
· Angles · Flats · Rounds · CTD Bars · T-Angles · M.S. Window and Door Sections · Channels ·
Square
|
PRODUCTION STATUS (As on 31.03.2011)
Installed
Capacity: 30000 M.T. per annum.
|
Particulars |
Unit |
Actual
Production |
|
Iron and Steel |
M.T. |
29198.589 |
GENERAL INFORMATION
|
Customers : |
·
Railways ·
Telecommunication ·
Power and Energy Industries ·
Construction Companies ·
Machine Manufacturers ·
Furniture Manufacturers ·
Fabricators ·
Auto Body Builders |
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No. of Employees : |
Not Available |
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Bankers : |
Bank of India, Nagpur Mid Corporate Branch, Mezannine Floor,
S V Patel Marg, Nagpur - 440001, Maharashtra, India |
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Agarwal Challani and Company Chartered Accountants |
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Address : |
51/A, Ground Floor, New Colony, Nagpur – 440001, Maharashtra, India |
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PAN.: |
AACFA2753L |
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Key Management
Personnel : |
· Raju Steel Industries · Saggu Agro Private Limited |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.100/- each |
Rs.50.000 Millions |
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|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
400020 |
Equity Shares |
Rs.100/-
each |
Rs.40.002
Millions |
|
|
|
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|
Disclosure of
shareholding more than five per cent in company
|
Name of shareholder |
Number of shares held in company |
Percentage of shareholding in company |
|
Nagpur Industrial Suppliers Private Limited |
50,000 |
1250.00% |
|
Surmanjuu Securities Private Limited |
50,000 |
1250.00% |
|
Dolly Weigh Bridge Private Limited |
1,60,000 |
4000.00% |
|
Hardik Steels Private Limited |
1,00,000 |
2500.00% |
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 |
40.002 |
40.002 |
40.002 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
141.901 |
130.411 |
108.763 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
181.903 |
170.413 |
148.765 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
126.678 |
74.111 |
151.517 |
|
|
2] Unsecured Loans |
207.838 |
249.092 |
114.968 |
|
|
TOTAL BORROWING |
334.516 |
323.203 |
266.485 |
|
|
DEFERRED TAX LIABILITIES |
6.673 |
5.140 |
3.625 |
|
|
|
|
|
|
|
|
TOTAL |
523.092 |
498.756 |
418.875 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
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|
|
|
|
|
|
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|
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FIXED ASSETS [Net Block] |
88.386 |
97.491 |
77.829 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
24.731 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.001 |
0.001 |
0.001 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
314.851
|
280.646 |
204.025 |
|
|
Sundry Debtors |
152.834
|
119.864 |
129.785 |
|
|
Cash & Bank Balances |
0.781
|
0.830 |
0.966 |
|
|
Other Current Assets |
7.622
|
6.569 |
0.000 |
|
|
Loans & Advances |
29.391
|
29.668 |
78.727 |
|
Total
Current Assets |
505.479
|
437.577 |
413.503 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
41.074
|
12.635 |
65.251 |
|
|
Other Current Liabilities |
29.700
|
23.678 |
21.528 |
|
|
Provisions |
0.000
|
0.000 |
10.410 |
|
Total
Current Liabilities |
70.774
|
36.313 |
97.189 |
|
|
Net Current Assets |
434.705
|
401.264 |
316.314 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
523.092 |
498.756 |
418.875 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1372.184 |
1026.666 |
989.845 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
1372.184 |
1026.666 |
989.845 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
1358.552 |
996.652 |
965.363 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
1358.552 |
996.652 |
965.363 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
13.632 |
30.014 |
24.482 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
5.738 |
10.437 |
10.409 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
7.894 |
19.577 |
14.073 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
94.050 |
74.473 |
60.400 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
101.944 |
94.050 |
74.473 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
19.74 |
48.94 |
35.18 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.58
|
1.91 |
1.42 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.30
|
5.61 |
4.98 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07
|
0.18 |
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.84
|
1.89 |
1.79 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
7.14
|
12.05 |
4.25 |
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 |
Yes |
|
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 |
No |
UNSECURED LOAN
Rs.
In Millions
|
Particular |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
Long-term
borrowings |
|
|
|
Deferred payment liabilities |
45.799 |
45.799 |
|
Short-term
borrowings |
|
|
|
Deposits |
162.039 |
203.293 |
|
Total |
207.838 |
249.092 |
CONTINGENT
LIABILITIES: (AS ON 31.03.2012)
· Service Tax demand: Rs.0.031 Million
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U27204MH1998PTC115887 |
|
Name of the
company |
ORANGE CITY STEEL
INDUSTRIES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
215, Small Factory Area, Bagadganj, Nagpur – 440008, Maharashtra, India |
|
This form is for |
Modification of charge |
|
Charge
identification (ID) number of the charge to be modified |
10074766 |
|
Type of charge |
· Immovable property · Book debts · Movable property (not being pledge) ·
Others (STOCKS, ETC.) |
|
Particular of
charge holder |
Bank of India, Nagpur Mid Corporate Branch, Mezannine Floor, S V Patel Marg, Nagpur - 440001, Maharashtra, India |
|
Nature of
instrument creating charge |
Sanction letter. Extension of equtiable mortgage - oral assent. Supplementary deed of hypothecation. |
|
Date of
instrument Creating the charge |
29.03.2012 |
|
Amount secured by
the charge |
Rs.230.000
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest 1) Term loan: 4.00% OBR, presently 14.75% p.a. 2) WCFBL - CC stock book debts: 3.00% OBR effective 13.75% p.a. 3) NFBL bank guarantee: as per extant guidelines. Terms of Repayment Repayable In 55 Monthly Instalments of Rs.1.000 Millions Each Commencing From April 2008. Interest To Be Serviced As And When Debited. Margin 1) Term
Loan: 25% 2) WCFBL - CC:
Stock - 25%, Book Debts - 40% (Not More Than 60 Days Old) 3) NFBL Bank
Guarantee(I): 25%. Extent and Operation of the charge The charge operates as a primary security to secure due repayment by the company to Bank of India of its term loan of Rs. 10.0 000 Millions and cash credit limit of Rs. 200.000 Millions (including book debts of Rs. 120.000 Millions within cash credit limit) bank guarantee of Rs.20.000 Millions aggregating to Rs 230.000 Millions. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Ms Ht Angles, Flats, Channels, Squares, Round Bars, Billets, Ingots, Etc. At Factory Sites and / or At Any Place/S. 1st Charge On The Fixed Assets Of The Company Hypothecation Of Stocks And Book Debts TDR Margin. All That Southern Portion Of Land Admesuring 1.00 Acres (0.40 Hectares) Along With Factory Building/Shed Situated At Mouza Ranala, P.H. No. 18 and A/C No. 72, Taluka. Kamptee and District Nagpur All That Piece and Parcel Of Land Admesuring 0.20 Hectares (Or 2044.69 Sq. Ft.) Along With Factory Building / Shed Situated At Mouza Ranala, P.H. No. 18 and A/C No. 72, Taluka. Kamptee and District Nagpur All That Piece and Parcel Of Land Admesuring 2.56 Hectares Bearing Survey No. 17 At Mouza Ranala, P.H. No. 18 and A/C No. 72, Taluka. Kamptee and District Nagpur |
|
Date of
instrument modifying the charge |
08.01.2011 |
|
Particulars of
the present modification |
The Orignal Charge
Was Created On 23.10.2007 Amounting Rs.155.000 Millions Which Was Modified On
08.01.2011 To Rs.173.700 Millions. Now The Said Charge Is
Modified On 29.03.2012 As - Term Loan -
Reduced To Rs. 10.000 Millions Cash Credit
Increase To Rs. 200.000 Millions (Including Book Debts Of Rs. 120.000 Millions Within Cash Credit Limit) Bank Guarantee Of
Rs. 20.000 Millions Total Amount To
Rs. 230.000 Millions Other Terms and
Conditions Remained Same |
FIXED ASSETS
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Office equipment
· Computer equipments
· Other 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 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.54.72 |
|
|
1 |
Rs.83.88 |
|
Euro |
1 |
Rs.71.05 |
INFORMATION DETAILS
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
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 |
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 |
|
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.