|
Report Date : |
06.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
STRABAG AG – AFCONS JOINT VENTURE |
|
|
|
|
Project Office : |
Southern Park, Unit No 6, 4th Floor D2, DDA District Centre,
Saket, New Delhi -110017 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
28.10.2009 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.215.497 Millions |
|
|
|
|
FCRN No.: [Foreign Company
Registering Numbers] |
F03849 |
|
|
|
|
Legal Form : |
Joint Venture |
|
|
|
|
Line of Business
: |
Company is primarily engaged in a single segment business of
construction of B1 Directional Traffic Dual Lane Tunnel. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
A (61) |
|
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 1300000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a Joint Venture between Strabag It is a well established company having a good track record. Financially company seems to be strong. Trade relations are reported
to be fair. Business is active. Payments are reported to be regular and as
per commitments. The company can be considered for normal 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.
ECGC Country Risk Classification List – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
We are living in a
world where volatility and uncertainty have become the New Normal. We saw
a change of government in countries like Tunisia, Egypt, Libya and Vietnam.
Once powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve
their business models with the changing time. Readers’ Digest, Thomson Register
are no more !
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years
to double its economic output per person during its industrial revolution and
the US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years respectively.
By 2020, emerging Asia will become the world’s largest consuming block,
overtaking North America.
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial
years of the contagion but finally lost ground last year. GDP growth slowed
down. Currency has been weakening. There is a marked deceleration in
agriculture, industry and services. Dampening sentiment led to a cut-back in
investment as well as private consumption expenditure. Inflation remained
at high levels fuelled by the pressure from the food and fuel sectors. The
large fiscal and current account deficit s continued to cause grave concern. It
is imperative that India regains its growth trajectory of 8-9 % sooner than
later. This is crucially important given the need to create gainful livelihood
opportunities for the millions living in poverty as also the large contingent
of young people joining the job market every year.
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. Ashutosh S. |
|
Designation : |
Manager |
|
Contact No.: |
91-9418088014 |
|
Date : |
06.08.2013 |
LOCATIONS
|
Registered Office : |
Ortenburgerstrasse 27 A 9800 Spittal An Der Drau 9800 Austria |
|
Tel. No.: |
+43(0)/4762-620-0 |
|
Mobile No.: |
91-9418088014 (Mr. Ashutosh S. |
|
Fax No.: |
+43(0)/4762-4962 |
|
Website : |
|
|
|
|
|
Project Office : |
Southern Park, Unit No 6, 4th Floor D2, DDA
District Centre, Saket, New Delhi -110017, India |
|
Tel. No.: |
91-11-64495111 |
|
E-Mail : |
DIRECTORS
|
STRABAG AG
AUSTRIA |
|
|
Name : |
Mr. Biswanger Gerhard |
|
Designation : |
Director |
|
Address: |
Kronprinz- Rudolf- Weg 478 A-2534 |
|
|
|
|
Name : |
Mr. Dusek Educard |
|
Designation : |
Director |
|
Address: |
Dr- Kouff-Starabe 4/2, A-2560 |
|
|
|
|
Name : |
Mr. Ebener Christian |
|
Designation : |
Director |
|
Address: |
Mariahilfersrabe 5/5, |
|
|
|
|
Name : |
Mr. Friewald Hubert |
|
Designation : |
Director |
|
Address: |
1060 Wien, Spechtgasse 13A-2340, |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Hofer Bernd Kurt |
|
Designation : |
Director |
|
Address: |
Lise- Meitner- Wseg 11 A- 9500 |
|
|
|
|
Name : |
Mr. Humitsche Marina |
|
Designation : |
Director |
|
Address: |
Teurniastrabe 17, A-9800 Spittal an der |
|
|
|
|
Name : |
Mr. Kienast Gerald |
|
Designation : |
Director |
|
Address: |
Losensteingasse 14, A-3382 |
|
|
|
|
Name : |
Mr. Klais Theodor Christian |
|
Designation : |
Director |
|
Address: |
Johann- Hoffmann- Platz 7/10, A-1120, |
|
|
|
|
Name : |
Mr. Krammer Peter |
|
Designation : |
Director |
|
Address: |
Werfelstrabe 6C 1170 |
|
|
|
|
Name : |
Mr. Krutina Herbert |
|
Designation : |
Director |
|
Address: |
Auf der Hundskehle 8, A-2384, Breitenfurt bei |
|
|
|
|
Name : |
Mr. Urban Franz |
|
Designation : |
Director |
|
Address: |
Enzianweg 8b, A-2353 |
|
|
|
|
Name : |
Mr. Ulrich Vogel |
|
Designation : |
Driector |
|
Address: |
Am Kirchberg 8, D-63454 |
|
|
|
|
Name : |
Mr. Zechmeister Wolfgang |
|
Designation : |
Director |
|
Address: |
Tolleterau 210, A-4710 St. Georgen bei |
KEY EXECUTIVES
|
Name : |
Mr. Anthony Moonjely |
|
Designation : |
Authorised Signatory |
|
Address : |
Flat No.1, Beena Apartments, 44 Prof Almeida Road, Bandra (West),
Mumbai – 400050, Maharashtra, India |
|
Date of Birth : |
02.10.1960 |
|
Passport No.: |
F4098593 |
|
PAN No.: |
ACUPM4061D |
|
|
|
|
Name : |
Mr. Ashutosh S. |
|
Designation : |
Manager |
BUSINESS DETAILS
|
Line of Business : |
Company is primarily engaged in a single segment business of
construction of B1 Directional Traffic Dual Lane Tunnel. |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
|
|
|
|
Bankers : |
Deutsche Bank, Germany |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Thingna and Contractor Chartered Accountants |
|
Address : |
167, Amritpuri B, 3rd Floor, East of Kailash, New
Delhi-110065, |
|
Tel. No.: |
91-11-26224485/ 46570668 |
|
Fax No.: |
91-11-26224486 |
|
E-Mail : |
|
|
|
|
|
Associates (As on 31.03.2011) : |
·
Strabag India Private Limited ·
Strabag International Gmbh ·
Dywidag Systems International ·
ED Zublin Ag |
CAPITAL STRUCTURE
|
Particulars |
As on 31.03.2012 (Rs. In Millions) |
|
|
|
|
Members Current Account |
Rs.215.497
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
STRABAG AG
(ROHATANG
PASS TUNNEL PROJECT)
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
215.497 |
211.421 |
|
(b) Reserves & Surplus |
|
110.668 |
25.964 |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1)+(2) |
|
326.165 |
237.385 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long
term liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
0.000 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
0.000 |
0.000 |
|
(b)
Trade payables |
|
0.000 |
0.000 |
|
(c)
Other current liabilities |
|
1884.818 |
2434.706 |
|
(d) Short-term
provisions |
|
118.886 |
59.929 |
|
(e) J V Control
Account |
|
22.323 |
(21.645) |
|
Total Current
Liabilities (4) |
|
2026.027 |
2472.990 |
|
|
|
|
|
|
TOTAL |
|
2352.192 |
2710.375 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
521.296 |
416.199 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
359.521 |
156.849 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d)
Long-term Loan and Advances |
|
0.000 |
0.000 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
880.817 |
573.048 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
194.647 |
96.624 |
|
(c)
Trade receivables |
|
84.792 |
0.000 |
|
(d) Cash
and cash equivalents |
|
801.852 |
1499.540 |
|
(e)
Short-term loans and advances |
|
377.817 |
516.074 |
|
(f)
Other current assets |
|
12.267 |
25.088 |
|
Total
Current Assets |
|
1471.375 |
2137.326 |
|
|
|
|
|
|
TOTAL |
|
2352.192 |
2710.375 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Fund From Partner |
|
|
11.622 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
11.622 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
11.622 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
21.338 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
88.871 |
|
|
Sundry Debtors |
|
|
0.000 |
|
|
Cash & Bank Balances |
|
|
1110.808 |
|
|
Other Current Assets |
|
|
7.367 |
|
|
Loans & Advances |
|
|
99.419 |
|
Total
Current Assets |
|
|
1306.465 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
|
|
26.463 |
|
|
Other Current Liabilities |
|
|
1271.088 |
|
|
Provisions |
|
|
15.963 |
|
|
JV Control Account |
|
|
2.667 |
|
Total
Current Liabilities |
|
|
1316.181 |
|
|
Net Current Assets |
|
|
(9.716) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
11.622 |
|
STRABAG AG
(ROHATANG
PASS TUNNEL PROJECT)
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
1013.026 |
919.882 |
85.947 |
|
|
|
Other Income |
42.910 |
36.243 |
8.700 |
|
|
|
TOTAL (A) |
1055.936 |
956.125 |
94.647 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Construction Materials Consumed |
185.187 |
43.563 |
0.000 |
|
|
|
Purchases of stock in Trade |
0.000 |
0.000 |
0.000 |
|
|
|
Stores, Spares and Fuel Consumed |
60.338 |
169.263 |
0.093 |
|
|
|
Employee Benefits Expenses |
182.769 |
182.712 |
21.833 |
|
|
|
Other Construction and Operations Expenses |
378.545 |
480.638 |
61.915 |
|
|
|
TOTAL (B) |
806.839 |
876.176 |
83.748 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
249.097 |
79.949 |
10.899 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
22.498 |
0.144 |
1.030 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
226.599 |
79.805 |
9.869 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
82.544 |
43.562 |
1.169 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
144.055 |
36.243 |
8.700 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
59.351 |
15.305 |
3.674 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
84.704 |
20.938 |
5.026 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
8.02
|
2.19 |
5.31 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
14.22
|
3.94 |
10.12 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.23
|
1.42 |
0.66 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.44
|
0.15 |
0.75 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.73
|
0.86 |
0.99 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
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 |
No |
|
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 |
No |
|
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 |
BACKGROUND (AS ON
31.03.2011)
The company is a
member of unincorporated joint Venture “STRABAG AG AFCONS”.
STRABAG AG AFCONS has
entered into a contract, on October 22nd, 2009, with Border Roads Organisation
to execute a Project for the construction of 8.8 km long B1- Directional
Traffic Dual Lane Single Bore Highway Tunnel of Width 10m at Finished pavement
level by Drilling and Blast Technologies, across Rohatang Pass Near Manali,
Himachal Pradesh, India.
The contract is
envisaged to be complete by February 2015.
For this purpose,
the company has obtained permission to establish a project office from the
Reserve Bank of India dated October 9, 2009 under the provisions of the Foreign
Exchange Management Act, 1999.
BUSINESS ACTIVITY
Company is
primarily engaged in a single segment business of construction of B1
Directional Traffic Dual Lane Tunnel and is managed as one entity and is
governed by similar set of risks and returns in respect of all its sub
activities. Company engages in its business operations within India.
INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY
FIXED ASSETS:
· Plant and Machinery
· Vehicles
· Computers
· Containers
· 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.60.80 |
|
|
1 |
Rs.91.95 |
|
Euro |
1 |
Rs.80.37 |
INFORMATION DETAILS
|
Information Gathered
by : |
PDT |
|
|
|
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
0 |
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
61 |
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.