MIRA
INFORM REPORT
|
Report Date : |
17.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
PERSANG ALLOY INDUSTRIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
353, GIDC Estate, Waghodia, District Vadodara – 391760, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
09.02.2007 |
|
|
|
|
Com. Reg. No.: |
04-049950 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.17.500 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25192GJ2007PTC049950 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
BRDP02199B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECP1424A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer and Exporter of Solders, Soldering Chemicals
and Alloys. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
Maximum Credit Limit : |
USD 160000 |
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|
|
|
Status : |
Moderate |
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|
|
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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 moderate track record. There
appears some dip in the profitability of the company during current year. The
company has also recorded huge external borrowing. 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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
A4 (Bank Guarantee) |
|
Rating Explanation |
Minimal degree of safety. It carry very high
credit risk. |
|
Date |
October 27, 2011 |
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 : |
353, GIDC Estate, Waghodia, District Vadodara – 391760, Gujarat,
India |
|
Tel. No.: |
91-2668-262718-9 |
|
Mobile No.: |
91-9998016446 (Mr. Vipin Shah) |
|
Fax No.: |
91-2668-262556 |
|
E-Mail : |
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|
Website : |
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|
Area : |
50000 sq ft |
|
Location : |
Owned |
|
|
|
|
Administrative Office : |
13/A, Shrinagar Society, 4, Shreeniketan Apartments, Road-A, Akota
Road, Vadodara - 390020, Gujarat, India |
|
Tel. No.: |
91-265-2312933, 2330606, 2331328 |
|
Fax No.: |
91-265-2310647 |
|
E-Mail : |
|
|
Area : |
300 sq ft |
|
Location : |
Owned |
DIRECTORS
As on: 29.09.2012
|
Name : |
Mr. Persang Jal Bavaadam |
|
Designation : |
Managing Director |
|
Address : |
63, Ravi Park, Vasna Road, Vadodara – 390015, Gujarat,
India |
|
Date of Birth/Age : |
08.06.1965 |
|
Date of Appointment : |
11.03.2007 |
|
PAN No.: |
ADCPB7474L |
|
DIN No.: |
01051079 |
|
|
|
|
Name : |
Mr. Aadil Jal Bavaadam |
|
Designation : |
Whole Time Director |
|
Address : |
61/62/63, |
|
Date of Birth/Age : |
11.08.1971 |
|
Date of Appointment : |
11.03.2007 |
|
PAN No.: |
ADCPB7474M |
|
DIN No.: |
01051095 |
|
|
|
|
Name : |
Mr. Firdosh Gustadji Bavaadam |
|
Designation : |
Director |
|
Address : |
402, Shukh Shanti Apartments, Wykes Compound, Fatehgunj,
Vadodara – 39007, Gujarat, India |
|
Date of Birth/Age : |
28.04.1948 |
|
Date of Appointment : |
09.02.2007 |
|
PAN No.: |
ABVPB9609E |
|
DIN No.: |
02272732 |
|
|
|
|
Name : |
Mr. Bakhtawar Firdosh Bavaadam |
|
Designation : |
Director |
|
Address : |
402, Shukh Shanti Apartments, Wykes Compound, Fatehgunj,
Vadodara – 39007, Gujarat, India |
|
Date of Birth/Age : |
02.01.1958 |
|
Date of Appointment : |
09.02.2007 |
|
DIN No.: |
02272727 |
|
|
|
|
Name : |
Mr. Jal Gustadi Bavaadam |
|
Designation : |
Whole Time Director |
|
Address : |
63, Ravi Park, Vasna Road, Vadodara – 390015, Gujarat,
India |
|
Date of Birth/Age : |
30.11.1933 |
|
Date of Appointment : |
11.03.2007 |
|
PAN No.: |
ADVPB9608F |
|
DIN No.: |
03576368 |
|
|
|
|
Name : |
Mrs. Frenyben Jal Bavaadam |
|
Designation : |
Director |
|
Address : |
60/61, Ravi Park, Vasna Road, Vadodara – 390015, Gujarat,
India |
|
Date of Birth/Age : |
18.09.1946 |
|
Date of Appointment : |
09.02.2007 |
|
PAN No.: |
ADCPB7477K |
|
DIN No.: |
03576366 |
|
|
|
|
Name : |
Mrs. Sannu Persang Bavaadam |
|
Designation : |
Director |
|
Address : |
61-62, Ravi Park Vasna Road, Vadodara – 390015, Gujarat,
India |
|
Date of Birth/Age : |
21.09.1972 |
|
Date of Appointment : |
09.02.2007 |
|
DIN No.: |
02703033 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Persang Jal Bavaadam |
|
525000 |
|
Aadil Jal Bavaadam |
|
525000 |
|
Firdosh Gustadji Bavaadam |
|
100000 |
|
Bakhtawar Firdosh Bavaadam |
|
75000 |
|
Jal Gustadi Bavaadam |
|
187500 |
|
Frenyben Jal Bavaadam |
|
162500 |
|
Sannu Persang Bavaadam |
|
175000 |
|
|
|
|
|
Total |
|
1750000 |
Equity Share Break up (Percentage of Total Equity)
As on: 29.09.2012
|
Category |
|
Percentage |
|
Directors or relatives of directors |
|
100.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Solders, Soldering Chemicals
and Alloys. |
|
|
|
|
Products : |
·
5S Alloy ·
Fluxes ·
Lead Free Bar ·
Lead Free BGA Sphere ·
Lead Free Solder Paste ·
Lead Free Wire ·
Plating Anodes ·
SnPb Bar Solders ·
SnPb Solders Paste ·
SnPb Solders Wire |
PRODUCTION STATUS (AS ON 31.03.2012)
|
Particulars |
Unit |
As
at 31.03.2012 |
|
Installed
Capacity |
|
|
|
Solders Products (Wire, Bricks and Ingots) |
MT |
1000 |
|
Actual
Production |
|
|
|
Solders Products (Wire, Bricks and Ingots) |
MT |
815 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
Bank of India, Vadodara Mid Corporate Branch, Bank of India Building, 2nd Floor, Raopura, Vadodara - 390001, Gujarat, India |
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Facilities : |
(Rs.
In Millions)
|
|
|
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Banking
Relations : |
-- |
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|
|
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Auditors : |
|
|
Name : |
Vikas A. Manohar and Company Chartered Accountants |
|
Address : |
101, Shagun Apartment, 42/A, Shiv Mahel Society, Behind Malhar Point, |
|
Tel. No.: |
91-265-2350108 |
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Mobile No.: |
91-9426081820 |
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Fax No.: |
91-265-3054828 |
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E-Mail : |
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Income-tax
PAN of auditor or auditor's firm : |
ACEPM8368D |
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Enterprises over
which Key Managerial Personnel are able to exercise significant influence : |
· Kaizan International · Farhad S. Ghadiyali Catering Services Private Limited |
|
|
|
|
Joint Venture : |
Persang O. M. Metals Private Limited |
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1750000 |
Equity Shares |
Rs.10/- each |
Rs.17.500
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 |
17.500 |
17.500 |
7.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
22.898 |
18.061 |
7.315 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
40.398 |
35.561 |
14.815 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
93.071 |
129.222 |
123.969 |
|
|
2] Unsecured Loans |
17.868 |
17.304 |
17.507 |
|
|
TOTAL BORROWING |
110.939 |
146.526 |
141.476 |
|
|
DEFERRED TAX LIABILITIES |
0.874 |
1.276 |
0.482 |
|
|
|
|
|
|
|
|
TOTAL |
152.211 |
183.363 |
156.773 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
52.527 |
55.208 |
54.558 |
|
|
Capital work-in-progress |
0.775 |
0.670 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
10.500 |
10.500 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
78.264
|
41.180 |
30.937 |
|
|
Sundry Debtors |
84.672
|
91.659 |
56.069 |
|
|
Cash & Bank Balances |
5.882
|
6.980 |
6.351 |
|
|
Other Current Assets |
32.071
|
23.217 |
0.000 |
|
|
Loans & Advances |
6.509
|
19.761 |
35.633 |
|
Total
Current Assets |
207.398
|
182.797 |
128.990 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
106.989
|
47.848 |
25.742 |
|
|
Other Current Liabilities |
9.952
|
14.947 |
0.000 |
|
|
Provisions |
2.048
|
3.017 |
1.787 |
|
Total
Current Liabilities |
118.989
|
65.812 |
27.529 |
|
|
Net Current Assets |
88.409
|
116.985 |
101.461 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.754 |
|
|
|
|
|
|
|
|
TOTAL |
152.211 |
183.363 |
156.773 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
533.226 |
509.431 |
324.009 |
|
|
|
Other Income |
2.660 |
1.050 |
1.512 |
|
|
|
TOTAL (A) |
535.886 |
510.481 |
325.521 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Material Consumed |
469.778 |
422.034 |
|
|
|
|
Purchase of Traded Goods |
5.136 |
11.215 |
|
|
|
|
Accretion/ Decretion of Finished Stock |
2.583 |
6.857 |
|
|
|
|
Manufacturing Expenses |
5.450 |
6.819 |
|
|
|
|
Employee Benefit Expanses |
10.481 |
12.736 |
|
|
|
|
Other Expenses |
8.135 |
11.937 |
|
|
|
|
TOTAL (B) |
501.563 |
471.598 |
298.156 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
34.323 |
38.883 |
27.365 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
22.193 |
18.018 |
16.719 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
12.130 |
20.865 |
10.646 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
4.539 |
4.292 |
3.523 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
7.591 |
16.573 |
7.123 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.737 |
4.096 |
3.332 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
5.854 |
12.477 |
3.791 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
13.567 |
4.821 |
2.030 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
1.000 |
2.000 |
1.000 |
|
|
|
Interim Dividend |
0.875 |
1.500 |
0.000 |
|
|
|
Tax on Interim Dividend |
0.142 |
0.231 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
17.441 |
13.567 |
4.821 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
|
|
Export Sales |
48.496 |
71.921 |
17.932 |
|
|
|
Deemed Export Sales |
0.000 |
8.466 |
7.302 |
|
|
TOTAL EARNINGS |
48.496 |
80.387 |
25.234 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
63.200 |
323.500 |
240.300 |
|
|
TOTAL IMPORTS |
63.200 |
323.500 |
240.300 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.34 |
14.97 |
5.05 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.09 |
2.44
|
1.16 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.42 |
3.25
|
2.20 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.92 |
6.96
|
3.88 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.17 |
00.47
|
0.48 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.75 |
4.12
|
9.55 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.74 |
2.78
|
4.69 |
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 |
Yes |
|
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
OPERATIONS
Subject is a leading player in both lead-based and lead-free solder products, solder paste and fluxes and it is catering to the growing demands of Automobile, Electronics and Electrical industries. It endeavors to maintain a long-term association with the customers by satisfying their evolving needs.
The management’s focus is on enhancing the business rnodel to serve the customers and to grow and sustain in the expanding domestic and international market while building long term relationship with the customers domestic and internationally.
During the under consideration the gross revenue of the Company has shown a growth of 4.96 % approx over the corresponding previous year. However, the profit before taxes has decrease by 54.21%. The declination in the profit is due to increase in raw material cost affected by reverse foreign exchange rates, high finance cost, liquidity crunch due to slow realization of debtors, investment made in joint venture company that has yet to yield any dividends as well as due to repayment of term loan installments.
UNSECURED LOAN
(Rs. In Millions)
|
Particular |
As on 31.03.2012 |
As on 31.03.2011 |
|
Tem Loans |
|
|
|
From Banks |
|
|
|
Kotak Mahindra Bank
Limited |
|
|
|
Total Outstanding |
5.091 |
1.795 |
|
Less: Current Maturities of Long term loans |
(2.545) |
0.995 |
|
Net Outstanding (A) |
2.546 |
0.800 |
|
From Others |
|
|
|
Kotak Mahindra Bank Limited |
|
|
|
Total Outstanding |
1.650 |
0.000 |
|
Less: Current Maturities of Long term loans |
(0.645) |
0.000 |
|
Net Outstanding (B) |
1.005 |
0.000 |
|
Religare Finance
Limited |
|
|
|
Total Outstanding |
1.913 |
2.799 |
|
Less: Current Maturities of Long term loans |
(0.515) |
(0.499) |
|
Net Outstanding (C) |
1.398 |
2.300 |
|
Tata Capital
Limited |
|
|
|
Total Outstanding |
0.000 |
2.500 |
|
Less: Current Maturities of Long term loans |
0.000 |
(0.500) |
|
Net Outstanding (D) |
0.000 |
2.000 |
|
Loans and Advance
from related parties |
|
|
|
Directors and Shareholders (E) |
12.919 |
12.204 |
|
|
|
|
|
Total
(A+B+C+D+E) |
17.868 |
17.304 |
Note:
The registered office of the company has been shifted from 188/7, GIDC Estate, Waghodia, Vadodara – 391760, Gujarat, India to the present address.
CONTINGENT
LIABILITIES:
In respect of the following matters:
(Rs.
In Millions)
|
Particulars |
31.03.2012 |
31.03.2011 |
|
Claims against the company not acknowledged as debts |
Nil |
Nil |
|
Letter of Credit |
Nil |
Nil |
|
Demand raised by Income Tax Department for A.Y. 2007-08 against which appeal
has been filed |
Nil |
0.075 |
FIXED ASSETS
Tangible Assets
· Leasehold Land
· Plant and Machinery
· Computers and Peripherals
· Moulds and Dies
· Outlander Vehicle
· Furniture and Fixture
Intangible Assets
· SAP Software
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.54.33 |
|
|
1 |
Rs.83.17 |
|
Euro |
1 |
Rs.71.05 |
INFORMATION DETAILS
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
29 |
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.