MIRA
INFORM REPORT
|
Report Date : |
27.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
BHOR ENGINEERING PRIVATE LIMITED |
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Registered
Office : |
S. No.81, Shivane, NDA Road, Pune – 411023, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
29.06.1998 |
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Com. Reg. No.: |
25-012652 |
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Capital
Investment / Paid-up Capital : |
Rs. 23.102
Millions |
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|
|
CIN No.: [Company Identification
No.] |
U29999PN1998PTC012652 |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEB01756G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Supplier of Metal Forming and Sheet Metal Components |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 180000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a satisfactory track record.
Trade relations are reported to be fair. Business is active. Payments are
reported to be usually correct and as per commitment. The company can be considered for normal business dealings at usual
trade terms and condition. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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. Ramsukh Saroj |
|
Designation : |
Account Manager |
|
Contact No.: |
91-4344-324659 |
|
Date : |
26.04.2013 |
LOCATIONS
|
Registered Office : |
S. No.81, Shivane, |
|
Tel. No.: |
91-20-25290588 /
25218019/ 25292073 |
|
Mobile No.: |
91-9011200000 (Mr. Sachin Prabhakar Bhor) |
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Fax No.: |
91-20-25290588 |
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E-Mail : |
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Website : |
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|
Area : |
10000 sq. ft. |
|
Location : |
Owned |
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|
|
|
Factory : |
Plot No. 26, SIPCOT Industries Complex Phase-II, Taluka-Hosur, District Krishnagari - 635 126, Tamilnadu, India |
|
Tel. No.: |
91-43-44324659 |
|
Area : |
60000 sq. ft. |
|
Location : |
Owned |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Sachin
Prabhakar Bhor |
|
Designation : |
Director |
|
Address : |
46, Girish
Society, Warje, Pune – 411029, |
|
Date of Birth/Age : |
03.05.1978 |
|
Qualification : |
B. E. |
|
Date of Appointment : |
29.06.1998 |
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DIN No.: |
00139086 |
|
|
|
|
Name : |
Mrs. Pramila
Prabhakar Bhor |
|
Designation : |
Director |
|
Address : |
46, Girish
Society, Warje, Pune – 411029, |
|
Date of Birth/Age : |
17.11.1950 |
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Qualification : |
Qualification |
|
Date of Appointment : |
29.06.1998 |
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DIN No.: |
00139167 |
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|
|
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Name : |
Mr. Sanjay
Prabhakar Bhor |
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Designation : |
Director |
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Address : |
46, Girish Society,
Warje, Pune – 411029, |
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Date of Birth/Age : |
10.08.1970 |
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Qualification : |
B. Tech |
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Date of Appointment : |
29.06.1998 |
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DIN No.: |
00972759 |
KEY EXECUTIVES
|
Name : |
Mr. Ramsukh Saroj |
|
Designation : |
Account Manager |
|
|
|
|
Name : |
Kulkarni and Thakurdesai |
|
Designation : |
Company Secretaries |
|
Address : |
D-6, Hari Smruti Apartment, Behind IDBI, Erandeane, Pune – 411004,
Maharashtra, India |
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Tel. No.: |
91-20-32541237 |
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E-Mail : |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Sanjay Prabhakar
Bhor |
|
96445 |
|
Pramila Prabhakar
Bhor |
|
32334 |
|
Sachin Prabhakar
Bhor |
|
75291 |
|
Maruti Balwant
Bhor |
|
500 |
|
Tulsi Sachin Bhor |
|
13107 |
|
Sunita Sanjay Bhor |
|
13339 |
|
Total |
|
231016 |
As on 29.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Supplier of Metal Forming and Sheet Metal
Components |
GENERAL INFORMATION
|
Customers : |
· Cummins India Limited – HHPBU/PGBU – Pune / Daman · Cummins Diesel Sales and Service / Power solutions – Pune · Cummins Power Generation – Minneapolis, USA · Kirloskar Oil Engines Limited – Pune / Kagal · Ashok Leyland Limited - Hosur (Plant I and II) · Ashok Leyland Limited - Alwar/ Ennore / Pune · Atlas Copco (India) Limited · Terex India Private Limited · Hyundai Constructions Limited · Ingersoll Rand Limited · Bharat Earth Movers Limited – Mysore · Fleetguard Filters Private Limited - Pune, Hosur · Fluid Dynamics Private Limited · UGSCSL - Chakan / Kagal · Volvo India Limited · Master Handlers and Automation – Pune · Mahindra International Limited – Pune · Doosan Corporation |
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No. of Employees : |
Information declined by the management |
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Bankers : |
· The Cosmos Co-Operative Bank Limited (Warje Branch) 269/270, Shaniwar Peth, Pune - 411030, Maharashtra, India · Sharad Sahakari Bank · CITI Bank · HDFC Bank Limited · IDBI Bank ·
ICICI Bank Limited |
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Deekay and Company Chartered Accountants |
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Address : |
5, Parshuram Apartments, 1616, Sadashiv Peth, Pune – 411030, Maharashtra, India |
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PAN.: |
AABFD9996M |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000 |
Equity Shares |
Rs.100/- each |
Rs.25.000 Millions |
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
231016 |
Equity Shares |
Rs.100/-
each |
Rs.23.102
Millions |
|
|
|
|
|
Reconciliation of
number of Equity Shares Outstanding at the beginning & at the end of the
year
|
Particulars |
31.03.2012 |
|
Number of shares outstanding as at the beginning of the period |
154,614 |
|
Add: No of shares issued during the period |
76,402 |
|
Number of shares outstanding at the end of the year |
231,016 |
Rights, preferences
and restrictions attaching to various classes of shares
The company has only one class of equity shares having a par value of Rs 100 per share.
Shares in the company
held by each shareholder holding more than 5% shares
|
Name of
Shareholders |
Nos |
% Holding |
|
Sanjay Prabhakar Bhor |
96445 |
42.00% |
|
Sachin Prabhakar Bhor |
75291 |
33.00% |
|
Pramila Prabhakar Bhor |
32334 |
14.00% |
|
Sunita Sanjay Bhor |
13107 |
6.00% |
|
Tulsi Sachin Bhor |
13339 |
6.00% |
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 |
23.102 |
15.461 |
9.852 |
|
|
2] Share Application Money |
0.000 |
7.640 |
6.570 |
|
|
3] Reserves & Surplus |
24.038 |
19.437 |
15.876 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
47.140 |
42.538 |
32.298 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
67.172 |
79.504 |
91.232 |
|
|
2] Unsecured Loans |
12.454
|
2.324 |
3.324 |
|
|
TOTAL BORROWING |
79.626 |
81.828 |
94.556 |
|
|
DEFERRED TAX LIABILITIES |
1.882 |
1.532 |
1.277 |
|
|
|
|
|
|
|
|
TOTAL |
128.648 |
125.898 |
128.131 |
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APPLICATION OF FUNDS |
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|
|
|
|
|
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FIXED ASSETS [Net Block] |
109.585 |
68.954 |
57.956 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
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INVESTMENT |
18.615 |
37.573 |
22.701 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
65.338
|
80.086 |
30.585 |
|
|
Sundry Debtors |
43.122
|
35.151 |
32.554 |
|
|
Cash & Bank Balances |
5.166
|
4.887 |
1.005 |
|
|
Other Current Assets |
0.085
|
0.000 |
0.000 |
|
|
Loans & Advances |
17.629
|
9.070 |
41.810 |
|
Total
Current Assets |
131.340
|
129.194 |
105.954 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
45.713 |
44.376 |
28.927 |
|
|
Other Current Liabilities |
81.391
|
62.642 |
26.828 |
|
|
Provisions |
3.788
|
2.805 |
2.725 |
|
Total
Current Liabilities |
130.892
|
109.823 |
58.480 |
|
|
Net Current Assets |
0.448
|
19.371 |
47.474 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
128.648 |
125.898 |
128.131 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
191.925 |
188.218 |
113.223 |
|
|
|
Other Income |
2.756 |
0.892 |
4.060 |
|
|
|
TOTAL |
194.681 |
189.110 |
117.283 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
174.674 |
173.516 |
108.282 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
174.674 |
173.516 |
108.282 |
|
|
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|
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|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
20.007 |
15.594 |
9.001 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
13.173 |
10.853 |
6.023 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
6.834 |
4.741 |
2.978 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
2.233 |
1.180 |
0.979 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
4.601 |
3.561 |
1.999 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
19.12 |
23.03 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
2.36
|
1.88 |
1.70 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.56
|
2.52 |
2.63 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.00
|
2.39 |
1.82 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.14
|
0.11 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.69
|
1.92 |
2.93 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.00
|
1.18 |
1.81 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
Rs. In Millions
|
Particular |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
|
|
|
Pune |
30.604 |
36.300 |
23.434 |
|
Hosur |
14.330 |
6.289 |
4.430 |
|
Trading Division |
0.000 |
0.000 |
1.063 |
|
Manchar (Construction Division) |
0.779 |
1.787 |
0.000 |
|
Total |
45.713 |
44.376 |
28.927 |
|
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 |
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 |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm / promoter involved in |
---------------------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
---------------------- |
|
26] |
Buyer visit details |
---------------------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
UNSECURED LOAN
Rs.
In Millions
|
Particular |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
Long-Term
Borrowings |
|
|
|
Collage (AEC) |
0.750 |
0.750 |
|
Sidharth Developers |
1.574 |
1.574 |
|
Anushree/Vinayak/Aditi Dravid |
2.000 |
0.000 |
|
Short-Term
Borrowings |
|
|
|
Pramila Prabhakar Bhor |
0.131 |
0.000 |
|
Sachin Prabhakar Bhor |
6.757 |
0.000 |
|
Sanjay Prabhakar Bhor |
0.006 |
0.000 |
|
Shubham Industries |
1.236 |
0.000 |
|
Total |
12.454
|
2.324 |
Fixed Assets
· Land and Building
· Plant and Machinery
· Furniture and Fixture
· Vehicles
· Computers
· Office Equipments
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals have
been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.29 |
|
|
1 |
Rs.83.88 |
|
Euro |
1 |
Rs.70.68 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
43 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.