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Report Date : |
22.04.2013 |
IDENTIFICATION DETAILS
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Name : |
DASMESH MECHANICAL WORKS PRIVATE LIMITED |
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Registered
Office : |
Raikot Road, District Sangrur, Malerkotla-148023, Punjab |
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Country : |
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Date of
Incorporation : |
30.07.2010 |
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Com. Reg. No.: |
034138 |
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Capital
Investment / Paid-up Capital : |
Rs.0.100 Million |
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CIN No.: [Company Identification
No.] |
U29210PB2010PTC034138 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
JLDD02269B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Tractor Rotavator Harvestor Combine,
Tractor Driven Harvester Combines. |
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No. of Employees
: |
500 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
B (26) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 1982 as a proprietary concern
with the name “Dasmesh Mechanical” and got converted into private limited in
the year 2010. Financial for the year 2010-11 and 2011-12 are not available. Mr.
Gursewak Singh, Marketing Manager provided with us all the information but
the financials are not verified. However, trade relations are reported as
fair. Business is active. Payment terms are unknown. The company can be considered for business dealings with some caution.
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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 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
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 PARTED BY [GENERAL DETAILS]
|
Name : |
Mr. Vardhman |
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Designation : |
Accounts Department |
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Contact No.: |
91-9217052726 |
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Name : |
Mr. Gursewak Singh |
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Designation : |
Marketing Manager |
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Contact No.: |
91-9417025726 |
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Date : |
17.04.2013 |
LOCATIONS
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Registered Office /Factory : |
Raikot Road, District Sangrur, Malerkotla-148023, Punjab, India |
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Tel. No.: |
91-1675-253726 |
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Mobile No.: |
91-9417025726 [Mr. Gursewak Singh] 91-9217052726 [Mr. Vardhman] |
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Fax No.: |
91-1675-261726 |
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E-Mail : |
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Website : |
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Area : |
8acres |
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Location : |
Owned |
DIRECTORS
AS ON 30.07.2010
|
Name : |
Mr. Amar Munshi Singh |
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Designation : |
Director |
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Address : |
Raikot Road, Malerkotla-148023, Punjab, India |
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Date of Birth/Age : |
11.04.1949 |
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Date of Appointment : |
01.11.2011 |
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Din No.: |
02261261 |
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Name : |
Mr. Mohan Singh |
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Designation : |
Director |
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Address : |
Raikot Road, Malerkotla-148023, Punjab, India |
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Date of Birth/Age : |
08.09.1956 |
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Date of Appointment : |
30.07.2010 |
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Din No.: |
02261263 |
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Name : |
Mr. Karnail Singh |
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Designation : |
Director |
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Address : |
Raikot Road, Malerkotla-148023, Punjab, India |
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Date of Birth/Age : |
25.02.1951 |
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Date of Appointment : |
30.07.2010 |
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Din No.: |
02261272 |
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Name : |
Mr. Harpal Singh |
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Designation : |
Director |
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Address : |
Raikot Road, Malerkotla-148023, Punjab, India |
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Date of Birth/Age : |
28.04.1963 |
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Date of Appointment : |
30.07.2010 |
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Din No.: |
02261277 |
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Name : |
Mr. Chattar Singh |
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Designation : |
Director |
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Name : |
Mr. Chatur Singh |
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Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. Vardhman |
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Designation : |
Accounts Department |
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|
Name : |
Mr. Gursewak Singh |
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Designation : |
Marketing Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.06.2010
|
Names of Shareholders |
|
No. of Shares |
|
Amar Munshi Singh |
|
2500 |
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Karnail Singh |
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2500 |
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Harpal Singh |
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2500 |
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Mohan Singh |
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2500 |
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TOTAL
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10000 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Tractor Rotavator Harvestor Combine, Tractor
Driven Harvester Combines. |
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Exports : |
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Products : |
Tractor Rotavator Harvestor Combine, Tractor Driven Harvester
Combines. |
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Countries : |
·
Malaysia ·
Kenya ·
Sri Lanka ·
Nepal |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
·
Japan ·
Germany |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
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Customers : |
End Users |
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No. of Employees : |
500 (Approximately) |
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Bankers : |
State Bank of Patiala, SSI Branch, Malerkotla-148023, Punjab, India |
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Facilities : |
Overdraft Rs.70.000 Millions |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Raj Kumar Jindal Chartered Accountant |
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Associates/Subsidiaries : |
·
Desmesh Agriculture Industries Private Limited,
Malerkotla, Punjab Line
of Business: Manufacturer and Exporter of Tractor Rotavator Harvestor Combine,
Tractor Driven Harvester Combines. |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 Million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Sales Turnover [Approximately] |
350.000 [Due to less
order] |
560.000 |
49.000 |
Expected Sales (2013-14) : Rs.600.000 Millions.
The above information has been parted by Mr. Vardhman and Mr. Gursewak
Singh.
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by
Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
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2] |
Locality of the firm |
Yes |
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3] |
Constitutions of the firm |
Yes |
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4] |
Premises details |
Yes |
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5] |
Type of Business |
Yes |
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6] |
Line of Business |
Yes |
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7] |
Promoter's background |
Yes |
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8] |
No. of employees |
Yes |
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9] |
Name of person contacted |
Yes |
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10] |
Designation of contact person |
Yes |
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11] |
Turnover of firm for last three years |
Yes |
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12] |
Profitability for last three years |
No |
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13] |
Reasons for variation <> 20% |
Yes |
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14] |
Estimation for coming financial year |
Yes |
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15] |
Capital in the business |
Yes |
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16] |
Details of sister concerns |
Yes |
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17] |
Major suppliers |
No |
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18] |
Major customers |
No |
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19] |
Payments terms |
Yes |
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20] |
Export / Import details (if applicable) |
Yes |
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21] |
Market information |
-- |
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22] |
Litigations that the firm / promoter involved in |
-- |
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23] |
Banking Details |
Yes |
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24] |
Banking facility details |
Yes |
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25] |
Conduct of the banking account |
-- |
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26] |
Buyer visit details |
-- |
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27] |
Financials, if provided |
Yes |
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28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
No |
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30] |
Major Shareholders, if available |
Yes |
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31] |
PAN of Proprietor/Partner/Director, if available |
No |
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32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
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33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
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 |
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|
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|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
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 |
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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
26 |
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.