MIRA
INFORM REPORT
|
Report Date : |
22.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
JOSTS ENGINEERING COMPANY LIMITED |
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Registered
Office : |
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Country : |
India |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
09.05.1907 |
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Com. Reg. No.: |
11-000252 |
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Capital
Investment / Paid-up Capital : |
Rs. 7.646 Millions
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CIN No.: [Company Identification
No.] |
L28100MH1907PLC000252 |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEJ04884F / MUMJ08367C |
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PAN No.: [Permanent Account No.] |
AAACJ1648A / AAACJ1658A |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Manufacturing and Selling of Material Handling Equipments, Industrial Finishing, Machine Tools, etc. |
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No. of Employees
: |
Information declined by the management
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RATING & COMMENTS
|
MIRA’s Rating : |
A (63) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 466000 |
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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 an established company having fine track record. Financial
position of the company is good. Trade relations are reported as fair.
Business is active. Payments are reported to be regular and as per commitments. The company can be considered normal 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.
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 BY
|
Name : |
Mr. C.B Sagvekar |
|
Designation : |
Company Secretary |
|
Contact No.: |
91-22-22661166/ 61202300 |
|
Date : |
19.04.2013 |
LOCATIONS
|
Registered/ Head Office : |
Great Social Building, 60, Sir Phiozeshah Mehta Road, Mumbai – 400001,
Maharashtra, India |
|
Tel. No.: |
91-22-22661150/ 22661166/ 61202300 |
|
Fax No.: |
91-22-22661951/ 61202345 |
|
E-Mail : |
infomhe@josts.in (Material Handling) bullowsthance@josts.in (Industrial Finishing) info@josts.in (Engineered Products) |
|
Website : |
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Factory 1 : |
C-7, Wagle Industrial Estate, Road No. 12, Thane - 400604,
Maharashtra |
|
Tel. No.: |
91-22-25821727/
25821746/ 25821748/ 25822083/ 61174000 |
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Fax No.: |
91-22-25823478/ 61174020 |
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E-Mail : |
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Branches : |
Located at: Ř
Bangalore Ř
Vadodara Ř
Chennai Ř
Kolkata Ř
New Delhi Ř
Pune Ř Secunderabad |
DIRECTORS
AS ON 31.03.2012
|
Name : |
Mr. Burjor Hormusji Reporter |
|
Designation : |
Chairman |
|
Address: |
24-C, Bal Gangadhar Kher Marg, Mumbai-400006, |
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Date of Birth/ Age: |
13.02.1924 |
|
Date of Appointment : |
27.08.1953 |
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|
Name : |
Mr. Shailesh Rajnikant Sheth |
|
Designation : |
Director |
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Address: |
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Date of Birth/Age: |
29.12.1946 |
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Date of Appointment: |
27.11.1997 |
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|
Name : |
Mr. Marco Philippus Ardeshir Wadia |
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Designation : |
Directors |
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Address: |
Thakur Niwas, 173, |
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Date of Birth/ Age: |
30.01.1956 |
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Date of Appointment: |
02.06.1998 |
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|
|
Name : |
Mr. Farokh Kekhushroo Banatwalla |
|
Designation : |
Director |
|
Address: |
603, Neelsagar, TPSIII 28th Roadl, Bandra West,
Mumbai-400050, |
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Date of Birth/ Age: |
19.04.1949 |
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Date of Appointment: |
21.04.2009 |
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|
Name : |
Mr. Pradeep Kumar Bhargava |
|
Designation : |
Director |
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Address: |
19, |
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Date of Birth/ Age: |
25.06.1949 |
|
Date of Appointment: |
30.10.2009 |
KEY EXECUTIVES
|
Name : |
Mr. Chandrakant Bhalchandra Sagvekar |
|
Designation : |
Company Secretary |
|
Address : |
Kumar Co-Operative Housing Society, Block No. B 11, Koparl Road, Dombivali
(West), Thane-421202, Maharashtra, India |
|
Date of Birth/Age : |
01.12.1948 |
|
Date of Appointment : |
02.09.1996 |
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PAN No.: |
ACRPS4712J |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2013
|
Category
of Shareholders |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
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|
184870 |
24.18 |
|
|
147040 |
19.23 |
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|
331910 |
43.41 |
|
|
|
|
|
|
38000 |
4.97 |
|
|
38000 |
4.97 |
|
Total shareholding of Promoter and Promoter Group (A) |
369910 |
48.38 |
|
(B) Public Shareholding |
|
|
|
|
|
|
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|
595 |
0.08 |
|
|
595 |
0.08 |
|
|
|
|
|
|
2604 |
0.34 |
|
|
|
|
|
|
198522 |
25.96 |
|
|
180294 |
23.58 |
|
|
12725 |
1.66 |
|
|
12725 |
1.66 |
|
|
394145 |
51.55 |
|
Total Public shareholding (B) |
394740 |
51.62 |
|
Total (A)+(B) |
764650 |
100.00 |
|
© Shares held by Custodians and against which Depository Receipts have
been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
764650 |
0.00 |
(1) Indian
Individuals / Hindu Undivided Family
Individual shareholders holding nominal
share capital up to Rs.0.100 millionBUSINESS DETAILS
|
Line of Business : |
Manufacturing and Selling of Material Handling Equipments, Industrial Finishing, Machine Tools, etc. |
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Products : |
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PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Licensed Capacity |
Installed Capacity |
Actual Production |
|
Material Handling Equipment |
Nos. |
Not Applicable |
The Company manufacturers
various products on versatile machines and hence the installed capacity
cannot be ascertained. |
545 |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management
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Bankers : |
Ř HDFC Bank
Limited Ř The Zoroastrian
Co-operative Bank Limited Ř Standard
Chartered Bank Ř The South Indian
Bank Limited |
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Facilities : |
|
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Banking
Relations : |
-- |
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|
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Solicitors : |
Crawford Bayley and Company |
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Auditors : |
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|
Name : |
Sorab S. Engineer and Company Chartered Accountants |
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|
|
|
Associates : |
Ř Bullows India
Private Limited Ř Bullows Paint
Equipment Private Limited Ř Phiroze Sethna
Private Limited Ř Gramos Chemicals
(India) Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 10.000 Millions |
|
|
|
|
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Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
764,650 |
Equity Shares |
Rs. 10/- each |
Rs. 7.647
Millions |
|
|
|
|
|
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
764,590 |
Equity Shares |
Rs. 10/- each |
Rs. 7.646
Millions |
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|
|
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|
a. Reconciliation of shares outstanding at the beginning and end of the
year
|
Particulars |
Equity Shares |
|
|
|
Number |
Rs. in Millions |
|
Shares outstanding at the beginning of the year |
764,650 |
7.646 |
|
Shares Issued during the year |
-- |
-- |
|
Shares bought back during the year |
-- |
-- |
|
Shares outstanding at the end of the year |
764,650 |
7.646 |
b. The Equity Shares of the Company have voting rights and are subject to
the restrictions as prescribed under the Companies Act, 1956.
c. The Company has no holding Company or
subsidiaries or associates.
d. List of shareholders holding more than 5% shares
|
Name of
Shareholder |
31.03.2012 |
|
|
|
No. of Shares
held |
% of Holding |
|
Burjor H. Reporter |
74,420 |
9.73 |
|
Aloo B. Reporter |
73,450 |
9.61 |
|
Parviz J. Batliwala |
41,000 |
5.36 |
|
Bullows India Private Limited |
71,040 |
9.29 |
|
Phiroze Sethna Private Limited |
76,000 |
9.94 |
e. During the last 5 years, the Company has neither issued any bonus shares
nor allotted any shares pursuant to a contract without payment being received
in Cash.
No shares have
been bought back during the last 5 years
f. Unpaid calls
As per of the
Company, no calls remain unpaid by the directors and officers of the Company as
on 31st March, 2012.
g. As per of the Company, no shares have been
forfeited by the Company during the year.
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 |
7.646 |
7.646 |
7.646 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
108.952 |
86.908 |
60.706 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
116.598 |
94.554 |
68.352 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
2.054 |
0.039 |
1.071 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
2.054 |
0.039 |
1.071 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
118.652 |
94.593 |
69.423 |
|
|
|
|
|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
24.704 |
17.698 |
15.961 |
|
|
Capital work-in-progress |
1.397 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.345 |
0.216 |
13.172 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
61.221
|
59.444 |
56.962
|
|
|
Sundry Debtors |
252.597
|
200.497 |
164.171
|
|
|
Cash & Bank Balances |
28.066
|
34.632 |
20.170
|
|
|
Other Current Assets |
0.433
|
0.250 |
0.227
|
|
|
Loans & Advances |
43.234
|
33.063 |
27.060
|
|
Total
Current Assets |
385.551
|
327.886 |
268.590 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
165.555
|
148.927 |
122.888
|
|
|
Other Current Liabilities |
50.422
|
40.350 |
70.637
|
|
|
Provisions |
77.368
|
61.930 |
34.775
|
|
Total
Current Liabilities |
293.345
|
251.207 |
228.300
|
|
|
Net Current Assets |
92.206
|
76.679 |
40.290
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
118.652 |
94.593 |
69.423 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
803.377 |
779.051 |
516.875 |
|
|
|
Other Income |
1.052 |
1.108 |
92.815 |
|
|
|
TOTAL (A) |
804.429 |
780.159 |
609.690 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
252.996 |
183.235 |
|
|
|
|
Purchases of Traded Goods |
241.783 |
319.596 |
|
|
|
|
Changes in Inventories of Finished Goods, Work-in-Progress &
Stock-in-Trade |
(4.042) |
0.784 |
|
|
|
|
Employee benefits expenses |
125.495 |
113.024 |
|
|
|
|
Other expenses |
110.535 |
101.722 |
|
|
|
|
TOTAL (B) |
726.767 |
718.361 |
565.573 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
77.662 |
61.798 |
44.117 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1.814 |
1.409 |
1.309 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
75.848 |
60.389 |
42.808 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
5.587 |
5.314 |
5.522 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
70.261 |
55.075 |
37.286 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
26.000 |
11.098 |
14.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
44.261 |
43.977 |
23.286 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
62.128 |
40.323 |
28.311 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
4.500 |
4.398 |
2.329 |
|
|
|
Proposed Dividend |
19.116 |
15.293 |
7.646 |
|
|
|
Tax on Dividend |
3.101 |
2.481 |
1.299 |
|
|
BALANCE CARRIED
TO THE B/S |
79.672 |
62.128 |
40.323 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Commission |
64.864 |
53.553 |
61.720 |
|
|
|
Export of goods (F.O.B. value) |
0.000 |
2.375 |
0.000 |
|
|
TOTAL EARNINGS |
64.864 |
55.928 |
61.720 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Components |
13.168 |
21.163 |
4.810 |
|
|
|
Traded Goods |
70.131 |
114.820 |
59.976 |
|
|
TOTAL IMPORTS |
83.299 |
135.983 |
64.786 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
57.88 |
57.51 |
30.45 |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2012 |
30.09.2012 |
31.12.2012 |
|
Type |
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
|
Sales Turnover |
154.800 |
206.900 |
192.000 |
|
Total Expenditure |
151.000 |
190.500 |
178.500 |
|
PBIDT (Excl
OI) |
3.900 |
16.300 |
13.500 |
|
Other Income |
0.400 |
0.300 |
0.300 |
|
Operating
Profit |
4.300 |
16.600 |
13.800 |
|
Interest |
0.400 |
0.600 |
0.700 |
|
Exceptional
Items |
0.000 |
0.000 |
0.000 |
|
PBDT |
3.900 |
16.000 |
13.100 |
|
Depreciation |
1.400 |
1.900 |
1.700 |
|
Profit
Before Tax |
2.500 |
14.200 |
11.400 |
|
Tax |
0.800 |
4.600 |
3.700 |
|
Provisions and Contingencies |
0.000 |
0.000 |
0.000 |
|
Reported PAT |
1.700 |
9.600 |
7.700 |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
|
Net Profit |
1.700 |
9.600 |
7.700 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
5.50
|
5.64 |
3.82
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.75
|
7.07 |
7.21
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
17.13
|
15.94 |
13.10
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.60
|
0.58 |
0.55
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.02
|
0.00 |
0.02
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.31
|
1.31 |
1.18
|
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
||
|
Sundry Creditors |
165.555
|
148.927 |
122.888
|
|
|
|
|
|
|
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 |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
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 |
No |
OPERATIONS
Income for the
year was Rs. 804.400 Millions as against Rs. 780.200 Millions in the previous
year. The profit before tax was Rs. 70.300 Millions as against Rs. 55.100
Millions in the previous year. Generally business should continue to progress.
Barring unforeseen circumstances, there should be improved results in the
current year.
CONTINGENT
LIABILITIES NOT PROVIDED FOR:
|
Particulars |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
|
|
i) Disputed Sales Tax matters |
64.724 |
64.724 |
|
ii) Disputed Service Tax matters |
0.552 |
0.552 |
|
iii) Bank Guarantees for performance contracts |
38.728 |
26.484 |
|
iv) Other disputed matters |
0.850 |
0.850 |
|
v) Central excise matters |
34.528 |
17.098 |
FIXED ASSETS:
a) Tangible Assets
Ř Leasehold Land
Ř Buildings
Ř Computers and
Peripherals
Ř Furniture and
Fixtures
Ř Office equipment
Ř Plant and
Machinery
Ř Vehicles
b) Intangible Assets
Ř Technical Know-How
Ř Trademarks
Ř Computer 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 records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to 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 : |
PDT |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
9 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
63 |
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.