MIRA INFORM REPORT
|
Report Date : |
19.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
ESSAR LOGISTICS LIMITED |
|
|
|
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Formerly Known
As : |
ESSAR LOGISTICS PRIVATE LIMITED |
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Registered
Office : |
Essar House, 11 Keshavrao Khadye Marg, Mahalaxmi, Mumbai – 400034, |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
21.10.2004 |
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Com. Reg. No.: |
11-149214 |
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Capital Investment
/ Paid-up Capital : |
Rs.730.000
Millions |
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|
|
CIN No.: [Company Identification
No.] |
U63000MH2004PLC149214 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUME05750D |
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PAN No.: [Permanent Account No.] |
AABCE4028N |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
The company is engaged in rendering all types of Logistics and allied services for all types of Cargo. |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (52) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 8200000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of “Essar Shipping Ports and Logistics
Limited, Cyprus”. It was incorporated to meet the land and sea logistics requirements
of various Essar Group Companies. It is an established company having a fine track record. It Derives
strength from its experienced management, the unconditional and irrevocable
corporate guarantee issued by the parent company. There appears slight dip in its total income and profit during 2012.
However, trade relations are reported as decent. Business is active. Payments
are reported to be regular and as per commitments. The company can be considered good for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
A+ (Long Term) |
|
Rating Explanation |
Adequate degree of safety and low credit risk. |
|
Date |
09.01.2012 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DECLINED
Management Non Co-operative (91-22-67355000)
LOCATIONS
|
Registered Office / Corporate Office : |
Essar House, 11 Keshavrao Khadye Marg, Mahalaxmi, Mumbai – 400034, |
|
Tel. No.: |
91-22-50011100/ 66601100 |
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Fax No.: |
91-22-23544312/ 66601809 |
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E-Mail : |
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Website : |
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Branch Office : |
Located at:
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Overseas Offices : |
Located at:
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DIRECTORS
As on 23.08.2012
|
Name : |
Mr. Arun Kumar Musaddy |
|
Designation : |
Whole Time Director |
|
Address : |
Flat No. 4B, Panhar Worli Sea Face Khan Abdul Gaffar Khan Road, Mumbai
– 400025, Maharashtra, India |
|
Date of Birth/Age : |
05.04.1945 |
|
Date of Appointment : |
25.10.2004 |
|
DIN No.: |
00055534 |
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|
Name : |
Mr. Ramnath Bansal |
|
Designation : |
Director |
|
Address : |
B-365, New Friends Colony, |
|
Date of Birth/Age : |
15.07.1930 |
|
Date of Appointment : |
18.02.2008 |
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DIN No.: |
00270908 |
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|
|
|
Name : |
Mr. Ramakrishnan Aduthurai Perumalkoil Ramachandran |
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Designation : |
Director |
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Address : |
Flat 6-A, Siddhi Apartment, 15-A, Shankar Ghanekar Marg, Opposite IDBI
Bank, Prabhadevi, Mumbai – 400028, Maharashtra, India |
|
Date of Birth/Age : |
07.02.1957 |
|
Date of Appointment : |
01.02.2011 |
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DIN No.: |
00583765 |
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|
|
|
Name : |
Mr. Rahul Himatsingka |
|
Designation : |
Whole-time director |
|
Address : |
H-2-13, Nand Niketan, Essar Township, Hazira – 394270, Gujarat, India |
|
Date of Birth/Age : |
04.07.1972 |
|
Date of Appointment : |
08.08.2011 |
|
DIN No.: |
03633751 |
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|
|
|
Name : |
Mr. Prabhat Kumar Srivastava |
|
Designation : |
Additional director |
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Address : |
Flat No 262, Tanhee Heights CHS Limited, Petit Hall Nepean Sea
Road, Mumbai – 400006, Maharashtra,
India |
|
Date of Birth/Age : |
11.08.1945 |
|
Date of Appointment : |
05.11.2012 |
|
DIN No.: |
00843258 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 23.08.2012
|
Names of Shareholders |
|
No. of Shares |
|
Essar Shiiping Limited, India |
|
72999994 |
|
Essar Shiiping Limited, India Jointly With Raghavan Jagannathan |
|
1 |
|
Essar Shiiping Limited, India Jointly With Ravi Vaidyanathan |
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1 |
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Essar Shiiping Limited, India Jointly With Ashok Vaidyanathan |
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1 |
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Essar Shiiping Limited, India Jointly With A R Ramakrishnan |
|
1 |
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Essar Shiiping Limited, India Jointly With Shivanna A Shetty |
|
1 |
|
Essar Shiiping Limited, India Jointly With Raman Subramanian |
|
1 |
|
Total |
|
73000000 |
As on 23.08.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is engaged in rendering all types of Logistics
and allied services for all types of Cargo. |
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Products : |
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GENERAL INFORMATION
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No. of Employees : |
Information declined by the management |
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Bankers : |
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
12, Dr. Annie Besant Road, Opposite Shiv Sagar Estate, Worli, Mumbai,
Maharashtra, India |
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PAN.: |
AABPR4652E |
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Holding Companies : |
Essar Shipping and Logistics Limited, Cyprus |
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Immediate Holding
Company |
Essar Shipping Limited |
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Ultimate Holding
Company : |
Essar Global Limited, Cayman Island |
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Other Related
Parties / Where There Have Been
Transactions: |
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Other Related
Parties / Affiliates |
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CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
75000000 |
Equity Shares |
Rs.10/- each |
Rs.750.000 Millions |
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|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
73000000 |
Equity Shares |
Rs.10/- each |
Rs.730.000
Millions |
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|
|
|
|
Reconciliation of the
shares outstanding at the beginning and at the end of the reporting period
|
Particulars |
Number |
Rs. In Millions |
|
Equity shares of Rs.10/- each |
|
|
|
At the beginning of the year |
73,000,000 |
730.000 |
|
Add: Issue of shares |
-- |
-- |
|
Outstanding at the end of the year |
73,000,000 |
730.000 |
Terms / rights
attached to equity shares
The Company has one class of equity shares having par value of Rs. 10/- each. Each shareholder of the equity shares is entitled to one vote per share but no right to fixed income by the way of dividend. In the event of liquidation of the Company, the equity shareholders will be entitled to receive the remaining assets of the Company, in proportion of equity share held, after distribution of all preferential amounts.
Shares held by holding/ultimate holding company and/or their subsidiaries/associates and details of the shareholding more than 5% shares in the company
|
Particulars |
Number |
% |
|
Shares held by holding company |
|
|
|
Essar Shipping Limited |
73,000,000 |
100.00% |
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 |
730.000 |
730.000 |
730.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1321.300 |
1215.300 |
1084.300 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
2051.300 |
1945.300 |
1814.300 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
406.100 |
1826.200 |
2060.600 |
|
|
2] Unsecured Loans |
1.100 |
13.800 |
0.000 |
|
|
TOTAL BORROWING |
407.200 |
1840.000 |
2060.600 |
|
|
DEFERRED TAX LIABILITIES |
272.900 |
222.600 |
252.700 |
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|
|
|
|
|
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TOTAL |
2731.400 |
4007.900 |
4127.600 |
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|
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APPLICATION OF FUNDS |
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|
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|
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FIXED ASSETS [Net Block] |
1838.600 |
2148.700 |
2294.800 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
150.000 |
|
|
|
|
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|
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INVESTMENT |
0.000 |
0.000 |
0.100 |
|
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
7.800
|
106.400 |
122.400
|
|
|
Sundry Debtors |
3015.700
|
1366.400 |
1461.400
|
|
|
Cash & Bank Balances |
1483.000
|
1270.200 |
983.000
|
|
|
Other Current Assets |
793.100
|
946.500 |
29.100
|
|
|
Loans & Advances |
1125.600
|
1005.000 |
1113.800
|
|
Total
Current Assets |
6425.200
|
4694.500 |
3709.700 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
3354.200
|
2456.400 |
1842.000
|
|
|
Other Current Liabilities |
2156.000
|
344.400 |
107.700
|
|
|
Provisions |
22.200
|
34.500 |
77.300
|
|
Total
Current Liabilities |
5532.400
|
2835.300 |
2027.000 |
|
|
Net Current Assets |
892.800
|
1859.200 |
1682.700
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2731.400 |
4007.900 |
4127.600 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
11312.900 |
12670.000 |
10701.000 |
|
|
|
Other Income |
264.900 |
196.500 |
107.300 |
|
|
|
TOTAL (A) |
11577.800 |
12866.500 |
10808.300 |
|
|
|
|
|
|
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|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employee benefit expense |
133.100 |
161.200 |
10001.700 |
|
|
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Other expenses |
10764.200 |
12053.800 |
|
|
|
|
TOTAL (B) |
10897.300 |
12215.000 |
10001.700 |
|
|
|
|
|
|
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|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
680.500 |
651.500 |
806.600 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
201.800 |
106.100 |
101.800 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
478.700 |
545.400 |
704.800 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
324.400 |
360.800 |
334.400 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
154.300 |
184.600 |
370.400 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
48.200 |
53.700 |
132.200 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
106.100 |
130.900 |
238.200 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1215.200 |
1084.300 |
846.100 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
1321.300 |
1215.200 |
1084.300 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Sea Freight |
130.800 |
2.900 |
3.000 |
|
|
|
Other Income |
0.100 |
0.200 |
2.000 |
|
|
TOTAL EARNINGS |
130.900 |
3.100 |
5.000 |
|
|
|
|
|
|
|
|
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|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
6.100 |
27.800 |
36.200 |
|
|
|
Stores & Spares |
23.200 |
5.900 |
154.300 |
|
|
TOTAL IMPORTS |
29.300 |
33.700 |
190.500 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.45 |
1.79 |
3.26 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.92
|
1.02 |
2.20
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.36
|
1.46 |
3.46
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.87
|
2.70 |
6.17
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08
|
0.09 |
0.20
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
5.04
|
0.95 |
1.14
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.16
|
1.66 |
1.83
|
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
Rs.
In Millions
|
Particular |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Trade payables |
3354.200
|
2456.400 |
1842.000
|
|
Total |
3354.200
|
2456.400 |
1842.000
|
|
Sr. No. |
Check List by Info
Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
---------------------- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm / promoter involved in |
---------------------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
---------------------- |
|
26] |
Buyer visit details |
---------------------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
FINANCIAL ANALYSIS
During the year, the Company earned a Total Income of Rs.11577.800 Millions as compared to Rs.12866.500 Millions during the previous year, representing an decrease of 10 %. The decrease in Total Income has been on account of decrease in the revenue from surface logistics during the year.
The Net Profit for the year decreased to Rs.106.100 Millions as compared to Rs.130.900 Millions in the previous year.
The Directors are of the view that considering the requirement of capital for growth in a highly competitive industry and also the need to plough back the resources for expansion, no dividend is recommended.
OPERATIONS
The Company has been providing wet bulk and dry bulk logistics services in the areas of stevedoring, lighterage, trans-shipment, sea and land transportation and project cargo handling to various clients.
During the year, the Company handled about 15.70 MMTs (Million Metric Tonnes) of cargoes. This was possible due to effective utilisation of the assets and by using systems which helped in vehicle planning, placement and movement.
CONTINGENT
LIABILITIES
Rs. In Millions
|
Particulars |
31.03.2012 |
31.03.2011 |
|
Guarantees given by banks on behalf of the company |
8.100 |
0.000 |
|
Bills discounted with bank |
970.000 |
860.000 |
|
Disputed service tax demand |
613.000 |
520.100 |
UNSECURED LOAN
Rs.
In Millions
|
Particular |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
Long term
borrowings |
|
|
|
Maturities of finance lease obligations |
1.100 |
13.800 |
|
Total |
1.100 |
13.800 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U63000MH2004PLC149214 |
|
Name of the
company |
ESSAR LOGISTICS
LIMITED |
|
Address of the registered
office or of the principal place of
business in |
Essar House, 11 Keshavrao Khadye Marg, Mahalaxmi, Mumbai – 400034,
Maharashtra, India |
|
This form is for |
Creation of charge |
|
Type of charge |
|
|
Particular of
charge holder |
IDBI Trusteeship Services Limited, Asian Building, Ground Floor, 17, R. Kamani Marg, Ballard Estate, Mumbai - 400001, Maharashtra, India |
|
Nature of
instrument creating charge |
Indenture of
Mortgage dated September 26, 2012 to create security over the properties as
more specifically mentioned in the Schedule 1 and 2 therein for the Secured
Redeemable Non-Convertible Debentures of Rs.2000.000 Millions and Rs.5000.000
Millions earlier issued by Essar Ports Limited (formerly Essar Shipping Ports
and Logistics Limited) and subsequently transferred to and vested in Essar Shipping
Limited vide Order of the High Court of Gujarat, Ahmedabad dated 01.03.2011 |
|
Date of
instrument Creating the charge |
26.09.2012 |
|
Amount secured by
the charge |
Rs.7000.000
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest As Agreed Terms of Repayment As Agreed Margin As Agreed Extent and Operation of the charge the Security
Created herewith shall rank pari-passu in point of security wihout any
priority or preference over the security created in favor of the security
trustee for the benefit of the secured term loan lenders as defined in the
secured documents |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
All that piece or parcel of non-agricultural freehold land admeasuring 617.68 Sq. Mtrs. forming part of the said Land made up of plot land known as Plot No.30 admeasuring 424.40 Sq. Mtrs. or thereabouts inclusive of parking area and with permissible construction up to builtable area as per sanctioned plan (forming part of amalgamated Survey No.255 of Mouje Maharajpura of Kadi Taluka in the Registration District Mehsana and Sub-District of Kadi (as more specifically described in the First Schedule to the Indenture of Mortgage dated 26/11/2012 Essar AB I (Official No. BRH 4964), Essar AB II (Official No. BRH 4965), Essar AB III (Official No.BRH 5093), Essar AB IV (Official No. BRH 5094), Essar AB V (Official No. BRH 5253), Essar AB VI (Official No. BRH 5254), Essar AB VII (Official No. BRH 5611), Essar AB VIII (Official No. BRH 5614) |
FIXED ASSETS:
· Furniture and Fixtures
· Plant and Machinery
· Office Equipment
· Vessels
· Vehicles
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.54.03 |
|
|
1 |
Rs.82.43 |
|
Euro |
1 |
Rs.70.49 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
52 |
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.