MIRA
INFORM REPORT
|
Report Date : |
24.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
PREMIER INDUSTRIAL CORPORATION LIMITED |
|
|
|
|
Registered
Office : |
501-507, ‘C’ Wing, Bhaveshwar Plaza, 5th Floor, L B S Marg,
Opposite Shreyas Cinema, Ghatkopar (West), Mumbai - 400086, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
08.08.2007 |
|
|
|
|
Com. Reg. No.: |
11-172955 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 83.992 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27101MH2007PLC172955 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECP3518M |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Ferro Alloy Powders, Metal Powders, Industrial Chemical, Mineral Powders |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1688000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having satisfactory track record. Overall financial of the company appears to be above average. Trade Relations are fair. Business is active. Payments terms are
usually correct. The company can be considered for 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.
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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long Term Fund Based Limit = BBB- (Suspended) |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk |
|
Date |
July 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short Term Non Based Sublimit = A3
(Suspended) |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk |
|
Date |
July 2013 |
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
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took
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
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.
LOCATIONS
|
Registered Office : |
501-507, ‘C’ Wing, Bhaveshwar Plaza, 5th Floor, L B S Marg,
Opposite Shreyas Cinema, Ghatkopar (West), Mumbai - 400086, Maharashtra,
India |
|
Tel. No.: |
91-22-61514545/25003802/03 |
|
Mobile No.: |
91-9619902204 (Mr. Arvind Morzaria) |
|
Fax No.: |
91-22-61514555/25000225 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
501-506, Kailash Corporate Lounge, Godrej-Hiranandani Link Road, Vikhroli (West), Mumbai - 400079, Maharashtra, India |
|
|
|
|
Factory : |
Located At: ·
Rabale ·
Taloja ·
Bhiwandi |
|
|
|
|
Branch Office : |
Ancupam Industrial Estate, LBS Marg, Mulund (West), Mumbai
-400 080, |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Arvind Chhotalal Morzaria |
|
Designation : |
Director |
|
Address : |
9A, Devang Apartment, 83 Garodia Nagar, Ghatkopar (East)
Mumbai – 400077, |
|
Date of Birth/Age : |
22.02.1952 |
|
Qualification : |
Graduation |
|
Date of Appointment : |
08.08.2007 |
|
DIN No.: |
00762810 |
|
|
|
|
Name : |
Mr. Dilip Chhotalal Morzaria |
|
Designation : |
Director |
|
Address : |
101, New |
|
Date of Birth/Age : |
07.12.1957 |
|
Qualification : |
Graduation |
|
Date of Appointment : |
08.08.2007 |
|
DIN No.: |
00762801 |
|
|
|
|
Name : |
Mr. Subhash Chhotalal Morzaria |
|
Designation : |
Director |
|
Address : |
1202/A, |
|
Date of Birth/Age : |
09.08.1958 |
|
Qualification : |
Graduation |
|
Date of Appointment : |
08.08.2007 |
|
DIN No.: |
00762794 |
|
|
|
|
Name : |
Mr. Lalit Navinchandra Morzaria |
|
Designation : |
Director |
|
Address : |
5, Kamal, 90 Feet Road, Garodia Nagar, Ghatkopar (East)
Mumbai – 400077, |
|
Date of Birth/Age : |
14.09.1977 |
|
Qualification : |
Graduation |
|
Date of Appointment : |
08.08.2007 |
|
DIN No.: |
00762815 |
KEY EXECUTIVES
|
Name : |
Mr. Arvind Morzaria |
|
Designation : |
Marketing Executive |
MAJOR SHAREHOLDERS
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Arvind Chhotalal Morzaria |
|
2633700 |
|
Bharati Arvind Morzaria |
|
64469 |
|
Dilip Chhotalal Morzaria |
|
40000 |
|
Kalpana Dilip Morzaria |
|
23069 |
|
Lalit Morzaria |
|
689087 |
|
Maulik S. Morzaria |
|
101200 |
|
Meet Arvind Morzaria |
|
193269 |
|
Nirmala N. Morzaria |
|
138069 |
|
Rima D. Morzaria |
|
11500 |
|
Rushina S. Morzaria |
|
46069 |
|
Samarth S. Morzaria |
|
101269 |
|
Smeet Arvind Morzaria |
|
193269 |
|
Subhash Chhotalal Morzaria |
|
1784550 |
|
Subhash Chhotalal Morzaria (Huf) |
|
40000 |
|
Anand Dilip Morzaria |
|
71369 |
|
Arvind Chhotalal Morzaria (Huf) |
|
40000 |
|
Dilip Chhotalal Morzaria |
|
2228275 |
|
Chhotalal Mathurdas Morzaria |
|
69 |
|
Total |
|
8399233 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2012
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Ferro Alloy Powders, Metal Powders, Industrial Chemical, Mineral Powders |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
Bank of |
||||||||||||
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|
||||||||||||
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Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Kinder Vijay Vittala Chartered Accountants |
|
Address : |
16, Agarawal Peace Heaven, kauls Heritage City, Bhabola Naka, Vasai Road (West), Thane – 401202, Maharashtra, India |
|
PAN.: |
AJLPK9907A |
|
|
|
|
Subsidiary : |
Dals International B.V., Netherland |
CAPITAL STRUCTURE
As on 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
Rs. 10/- each |
Rs. 200.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8399233 |
Equity Shares |
Rs. 10/- each |
Rs. 83.992 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
83.992 |
83.992 |
|
(b) Reserves & Surplus |
|
338.040 |
290.316 |
|
(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) |
|
422.032 |
374.308 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
276.574 |
240.379 |
|
(b) Deferred tax liabilities (Net) |
|
4.962 |
2.745 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
|
281.536 |
243.124 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
211.088 |
287.031 |
|
(b) Trade payables |
|
267.430 |
55.653 |
|
(c) Other current
liabilities |
|
41.064 |
3.180 |
|
(d) Short-term provisions |
|
37.248 |
26.738 |
|
Total Current Liabilities (4) |
|
556.830 |
372.602 |
|
|
|
|
|
|
TOTAL |
|
1260.398 |
990.034 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
330.866 |
255.669 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
1.083 |
1.083 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
6.524 |
3.312 |
|
(e) Other Non-current assets |
|
0.806 |
0.634 |
|
Total Non-Current Assets |
|
339.279 |
260.697 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
388.976 |
295.040 |
|
(c) Trade receivables |
|
407.935 |
303.200 |
|
(d) Cash and cash
equivalents |
|
40.080 |
25.660 |
|
(e) Short-term loans and
advances |
|
13.595 |
33.607 |
|
(f) Other current assets |
|
70.533 |
71.830 |
|
Total Current Assets |
|
921.119 |
729.337 |
|
|
|
|
|
|
TOTAL |
|
1260.398 |
990.034 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
83.992 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
244.661 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
328.653 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
229.932 |
|
|
2] Unsecured Loans |
|
|
87.910 |
|
|
TOTAL BORROWING |
|
|
317.842 |
|
|
DEFERRED TAX LIABILITIES |
|
|
1.680 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
648.175 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
191.710 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
1.083 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
263.195 |
|
|
Sundry Debtors |
|
|
237.766 |
|
|
Cash & Bank Balances |
|
|
6.885 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
159.843 |
|
Total
Current Assets |
|
|
667.689 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
129.063 |
|
|
Other Current Liabilities |
|
|
0.000 |
|
|
Provisions |
|
|
84.490 |
|
Total
Current Liabilities |
|
|
213.553 |
|
|
Net Current Assets |
|
|
454.136 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
1.246 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
648.175 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1304.850 |
1124.694 |
962.888 |
|
|
|
Other Income |
2.622 |
1.232 |
0.518 |
|
|
|
TOTAL |
1307.472 |
1125.926 |
963.406 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of material consumed |
1157.014 |
965.765 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and
stock-in-trade |
(93.936) |
(31.845) |
|
|
|
|
Employee Benefit Expenses |
41.257 |
26.537 |
|
|
|
|
Other Expenses |
31.241 |
26.528 |
|
|
|
|
TOTAL |
1135.576 |
986.985 |
753.135 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
171.896 |
138.941 |
210.271 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
73.305 |
51.343 |
33.014 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
98.591 |
87.598 |
177.257 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
25.108 |
14.254 |
15.457 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX AND EXCEPTIONAL ITEMS |
73.483 |
73.344 |
161.800 |
|
|
|
|
|
|
|
|
|
Add |
EXCEPTIONAL
ITEMS |
0.000 |
1.463 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER
EXCEPTIONAL ITEMS AND BEFORE TAX |
73.483 |
74.807 |
161.800 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
25.645 |
29.152 |
28.154 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
47.838 |
45.655 |
133.646 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
5.7 |
5.44 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
3.66
|
4.05
|
13.87 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.63
|
6.65
|
16.80 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.91
|
10.20
|
18.83 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.17
|
0.20
|
0.49 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.15
|
1.41
|
0.97 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.65
|
1.96
|
3.13 |
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 |
No |
|
10] |
Designation of contact
person |
No |
|
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 |
UNSECURED LOANS:
|
Particulars |
31.03.2012 Rs. In Millions |
31.03.2011 Rs. In Millions |
|
Long Term Borrowings |
|
|
|
Loans and
advances from director |
62.792 |
46.080 |
|
Loans and Advances
from Others |
213.782 |
194.299 |
|
Total |
276.574 |
240.379 |
INDEX OF CHARGE:
|
Sr .No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10390145
|
26/12/2012
* |
661,000,000.00
|
Bank
of |
Thane West Branch,, |
B65081192
|
|
2 |
10173723
|
25/07/2009
|
20,000,000.00
|
RELIANCE
CAPITAL LIMITED |
"H" BLOCK 1ST FLOOR,
|
A68173046
|
|
3 |
10121456
|
26/12/2012
* |
661,000,000.00
|
Bank
of |
Thane West Branch,, |
B65080525
|
|
4 |
10178334
|
26/12/2012
* |
531,000,000.00
|
Bank
of |
Thane West Branch,, |
B65081788
|
|
5 |
90154647
|
26/12/2012
* |
661,000,000.00
|
Bank
of |
Thane West Branch,, |
B65082240
|
|
6 |
90152441
|
21/05/2001
* |
985,000.00
|
BANK
OF |
THANE (WEST) BRANCH, |
- |
|
7 |
90152803
|
15/01/1999
* |
495,000.00
|
BANK
OF |
THANE (WEST) BRANCH, |
- |
* Date of charge modification
FIXED ASSETS:
·
Air Condition
·
Computer
·
Electrical Installation
·
Furniture
·
Machinery
·
Office Premises
·
Xerox Machine
·
Vehicle
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 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. 64.69 |
|
|
1 |
Rs. 100.80 |
|
Euro |
1 |
Rs. 86.30 |
INFORMATION DETAILS
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
48 |
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.