MIRA INFORM REPORT
|
Report Date : |
07.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
LAFARGE AGGREGATES AND CONCRETE INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
1004, ‘B’ Wing, 10th Floor, Crescenzo, G-Block,
Bandra-Kurla Complex, Bandra (East), Mumbai-400051, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
29.10.2007 |
|
|
|
|
Com. Reg. No.: |
11-175495 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.16758.415
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74900MH2007PTC175495 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUML06871E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Trader of Ready Mixed Concrete and Aggregates. |
|
|
|
|
No. of Employees
: |
1000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 44000000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of It is an established company having a satisfactory track record. For
the 15 months period January 2011- March 2012, the company has reported loss
from its operations. There appear huge accumulated losses recorded by the company. However, the capital base of the company appears to be strong. And
company gets good financial support from its holding companies. Trade relations are reported to be fair. Business is active. Payments
are usually correct. In view of experience management and holding, the company can be
considered for business dealings at usual trade terms and conditions. Note: Financial details (January 2011-March 2012) are gathered from
indirect source. |
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 |
ICRA |
|
Rating |
Term loans: A |
|
Rating Explanation |
Adequate degree of safety and low credit risk. |
|
Date |
November 2012 |
|
Rating Agency Name |
ICRA |
|
Rating |
Non fund based facility: A1 |
|
Rating Explanation |
Very strong degree of safety and lowest credit risk. |
|
Date |
November 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 PARTED BY (GENERAL DETAILS)
|
Name : |
Not Divulged |
|
Designation : |
Account Department |
|
Contact No.: |
91-22-66306511 |
|
Date : |
18.07.2013 |
LOCATIONS
|
Registered / Head Office /Factory
: |
1004, ‘B’ Wing, 10th Floor, Crescenzo, G-Block,
Bandra-Kurla Complex, Bandra (East), Mumbai-400051, |
|
Tel. No.: |
91-22-66306511 / 67692500 |
|
Fax No.: |
91-22-66306510 / 67692517 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Regional Operations Office – East: |
Block D, 4th Floor, 22, Camac Street, Kolkata – 700016,
West Bengal, India |
|
Tel No.: |
91-33-39832100 |
|
Fax No.: |
91-33-39832133 |
|
|
|
|
Regional Sales Office: |
Located at: Ø West Bengal Ø Chhattisgarh Ø Jharkhand Ø Bihar Ø Odisha Ø North East |
DIRECTORS
As on 20.09.2012
|
Name : |
Mr. Vikram Arvind Wagh |
|
Designation : |
Managing director |
|
Address : |
G-8, Gulab Baug A, |
|
Date of Birth/Age : |
03.01.1966 |
|
Date of Appointment : |
20.09.2012 |
|
PAN No.: |
AAAPW1211F |
|
DIN No.: |
00010979 |
|
|
|
|
Name : |
Mr. Bradley Peter Mulroney |
|
Designation : |
Director |
|
Address : |
11 Jalan Setiakasih 9 |
|
Date of Birth/Age : |
02.12.1962 |
|
Date of Appointment : |
31.03.2008 |
|
DIN No.: |
02072508 |
|
|
|
|
Name : |
Mr. Kumar Rajagopal Srinivasan |
|
Designation : |
Director |
|
Address : |
37-2, Old 34, New |
|
Date of Birth/Age : |
22.10.1947 |
|
Date of Appointment : |
29.09.2008 |
|
DIN No.: |
01907681 |
KEY EXECUTIVES
|
Name : |
Mr. Ajay Pratap Singh |
|
Designation : |
Secretary |
|
Address : |
A-1901, |
|
Date of Birth/Age : |
10.10.1974 |
|
Date of Appointment : |
11.06.2008 |
|
PAN No.: |
AMDPS9689J |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 20.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Financiere Lafarge |
|
1435841499 |
|
Uday Khanna |
|
1 |
|
Lafarge India Private Limited, |
|
240000000 |
|
Total |
|
1675841500 |
AS ON 20.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
86.00 |
|
Bodies
corporate |
|
14.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Trader of Ready Mixed Concrete and Aggregates. |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
PRODUCTION STATUS (AS ON 31.12.2010)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Ready Mix Concrete * |
Cum3 |
9,997,020 |
4,508,034 |
Note: Licensed capacity for the products
manufactured by the company are not mandated and hence not disclosed.
* Installed capacity has been extrapolated for
15 months period.
GENERAL INFORMATION
|
Customers : |
|
||||||||||||||||||
|
|
|
||||||||||||||||||
|
No. of Employees : |
1000 (Approximately) |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
Ø HDFC Bank Limited,
HDFC Bank House Senapati Bapat Marg, Lower Parel (West), Mumbai – 400013, Ø The Hongkong and
Shanghai Banking Corporation Limited, Plot No. 139-140B, Ø Standard
Chartered Bank, Box 725, 90 Mahatma Gandhi Road, Fort, Mumbai – 400001,
Maharashtra, India |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S.R. Batliboi and Company Chartered Accountants |
|
Address : |
The Ruby, 16th Floor, 29, Senapati Bapat Marg, Dadar
(West), Mumbai – 400028, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AALFS0506L |
|
|
|
|
Holding Company: |
Financiere Lafarge [Holds 100% of the equity share capital] |
|
|
|
|
Ultimate Holding Company: |
Lafarge SA, France |
|
|
|
|
Fellow Subsidiaries: |
Ø Lafarge India Private Limited (holds 14.32% of the equity share
capital) Ø Lafarge Boral Gypsum India Private Limited Ø Lafarge Concrete (Malaysia) Sdn Bhd Ø Lafarge Canada Inc. Ø Lafarge International Service Singapore Pte Limited Ø Lafarge Mahaweli Cement (Private) Limited Ø Lafarge Granulats Betons Services Ø Lafarge Asia Sdn Bhd Ø Lafarge Aggregates Sdn Bhd Ø Lafarge Emirates Cement LLC Ø Lafarge North America Ø Lafarge A and C Technical Service (Beijing) Company Limited Ø Batong Angono Aggregates Corporation Ø Lafarge UK Services Limited Ø Boral Gypsum India Private Limited, India CIN: U28939DL2006PTC150597 |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,800,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 18000.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,675,841,500 |
Equity Shares |
Rs. 10/- each |
Rs.
16758.415 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 (15 Months) |
31.12.2010 (12 Months) |
31.12.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
16758.415 |
11358.415 |
11358.415 |
|
|
2] Share Application Money |
0.000 |
2760.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(5754.649) |
(3890.991) |
(2355.381) |
|
|
NETWORTH |
11003.766 |
10227.424 |
9003.034 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
300.000 |
2500.000 |
5000.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
300.000 |
2500.000 |
5000.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
11303.766 |
12727.424 |
14003.034 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
10441.474 |
11835.940 |
13221.653 |
|
|
Capital work-in-progress |
399.080 |
288.690 |
41.207 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
198.000 |
197.188 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
207.089
|
131.323
|
93.374 |
|
|
Sundry Debtors |
2167.684
|
1582.392
|
1362.384 |
|
|
Cash & Bank Balances |
303.282
|
939.259
|
1195.679 |
|
|
Other Current Assets |
0.101
|
1.143
|
0.546 |
|
|
Loans & Advances |
448.221
|
343.770
|
575.373 |
|
Total
Current Assets |
3126.377
|
2997.887
|
3227.356 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
2163.494
|
2330.503
|
2374.803 |
|
|
Other Current Liabilities |
433.242
|
270.366
|
420.172 |
|
|
Provisions |
66.429
|
52.057
|
22.327 |
|
Total
Current Liabilities |
2663.165
|
2652.926
|
2817.302 |
|
|
Net Current Assets |
463.212
|
344.961
|
410.054 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
59.833 |
132.932 |
|
|
|
|
|
|
|
|
TOTAL |
11303.766 |
12727.424 |
14003.034 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 (15 Months) |
31.12.2010 (12 Months) |
31.12.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
15409.000 |
10551.000 |
12006.700 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
485.000 |
591.000 |
376.200 |
|
|
|
|
|
|
|
|
|
|
FINANCIAL
EXPENSES |
308.000 |
572.000 |
760.200 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
177.000 |
19.000 |
(384.000) |
|
|
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
2041.000 |
1559.000 |
1921.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
(1863.000) |
(1539.000) |
(2305.600) |
|
|
|
|
|
|
|
|
|
|
TAX |
0.000 |
(3.000) |
7.900 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
(1863.000) |
(1536.000) |
(2313.500) |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(1.36) |
(1.35) |
(2.04) |
|
%2007-Aug-2013_files/image001.gif){kind=small}
%2007-Aug-2013_files/image002.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 (15 Months) |
31.12.2010 (12 Months) |
31.12.2009 |
|
PAT / Total Income |
(%) |
NA
|
NA
|
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(12.09)
|
(14.59)
|
(19.20) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(13.73)
|
(10.38)
|
(14.02) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.17)
|
(0.15)
|
(0.26) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.03
|
0.24
|
0.56 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.17
|
1.13
|
1.15 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS: NOT AVAILABLE
|
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 |
Yes |
|
9] |
Name of person contacted |
No |
|
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 |
Yes |
|
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 |
NOTE:
Registered office of the company has been
shifted from 8th Floor, Hallmark Business plaza, Sant Dynashewar
Marg, Near Gurunanak hospital, Bandra (East), Mumbai – 400051, Maharashtra,
India to the present address w.e.f 08.09.2011
OVERVIEW AND
REVIEW OF OPERATIONS
Global economic
uncertainties have affected India's economy, including the real estate market.
High prices and interest rates have been dampeners. Demand has been stagnating
in a few cities even as supply remains high. Repeated increases in interest
rates have led to a decline in sale of residential and commercial properties.
The strong presence across 44 cities profit of the Ready-mix business has
helped in withstanding the recessionary factors in the economy. The Company is
pre-dominantly engaged in the business of manufacture and sale of Ready Mix Concrete.
During the 15 month period, the Company has achieved a turnover of 15,409 MINR
(net of excise duty) from the sale of the Ready Mix Concrete and Aggregates.
The Company recorded an EBITDA of 485 MINR compared to 591 MINR during the
previous year. During the period, the Company prepaid part of the term loan to
the extent of INR 2,400 MINR fully funded through capital infusion, resulting
in significant reduction of interest cost. The period is for a period of 15
months, thus the figures for the period are not comparable with the previous
year.
The Company has
started a new stone crushing operation at Kotputli, Rajasthan for expansion of
Aggregate business. Company is also aggressively identifying the minor mineral
reserves at strategic locations in the country to set up the mining activities
and stone crushing activities.
FUTURE OUTLOOK
The Company will
focus on segment based approach example small size residential buildings, mid
size commercial and residential buildings to keep a close understanding of the
local construction industry viz. its players, influencers, decision makers,
trends and opportunities and translate them into timely and appropriate
actions. Through bidding for special projects the Company expects volumes of
the Ready Mix Concrete division
of the Company to
grow further. The Company is in the process of setting up Crushing and
Quarrying operations at strategic locations in the country. With increased
focus on the sale of Ready Mix Concrete and Aggregates to infrastructure and
construction projects, the Company expects to cater to the construction
industry in a big way. Lafarge Value Added Products (VAP) will improve the
range of products available to the Construction Sector in the Country.
NATURE OF OPERATIONS
The Company was
incorporated on October 29, 2007 and is engaged in the business of manufacture
and sale of Ready Mixed Concrete and trading and manufacturing of Aggregates.
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10243950 |
21/09/2010 |
150,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL WEST, MUMBAI,
MAHARASHTRA - 400013, INDIA |
A96354105 |
|
2 |
10234918 |
24/07/2010 |
350,000,000.00 |
STATE BANK OF INDIA |
CORPORATE ACCOUNTS GROUP BRANCH, NEVILLE HOUSE, J. N. HEREDIA MARG,
BALLARD ESTATE, MUMBAI, MAHARASHTRA - 400001, INDIA |
A92120948 |
|
3 |
10159424 |
22/05/2012 * |
100,000,000.00 |
THE HONGKONG AND SHANGHAI BANKING
CORPORATION LIMI |
PLOT NO. 139-140B, WESTERN EXPRESS HIGHWAY, SAHAR ROAD JUNCTION, VILLE
PARLE (EAST), MUMBAI, MAHARASHTRA - 400057, INDIA |
B40315145 |
|
4 |
10151923 |
25/02/2009 |
500,000,000.00 |
STANDARD CHARTERED BANK |
BOX 725, 90 MAHATMA GANDHI ROAD, FORT, MUMBAI, MAHARASHTRA - 400001,
INDIA |
A59887133 |
Note: * Date of
charge modification
FIXED ASSETS:
Tangible Assets:
Ø
Ø
Plant and Machinery
Ø
Office Equipments
Ø
Computers
Ø
Furniture and Fixtures
Ø
Ø
Building
Ø
Vehicles
Intangible Assets:
Ø
Goodwill
Ø
Software
Ø
Trade Mark
Ø Non Compete
Agreement
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 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.61.54 |
|
|
1 |
Rs.94.37 |
|
Euro |
1 |
Rs.81.58 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
KVT/ VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
45 |
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.