MIRA
INFORM REPORT
|
Report Date : |
21.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
INNOVATIVE CLAD SOLUTIONS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
H-2, Suneja Chambers, Alaknanda Commercial Complex, New Delhi – 110019 |
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|
|
|
Country : |
India |
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|
|
Financials (as
on) : |
31.03.2013 |
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|
|
|
Date of
Incorporation : |
12.02.2008 |
|
|
|
|
Com. Reg. No.: |
55-173950 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 721.443 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27310DL2008PTC173950 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCI8209H |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
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Line of Business
: |
Subject is engaged in the business of manufacturing and selling of Industrial clad materials. |
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|
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|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (12) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
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|
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|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having moderate track record. There appears some accumulated losses recorded by the company. However, trade relation are fair. Business is active. Payment terms
are slow. The company can be considered for business dealing on a safe and
secured 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) |
|
India |
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
The current downturn
provides an opportunity to push ahead with reforms to accelerate growth, says the
latest India Development Update report released by the World Bank. The report
says that the adverse effects of rupee depreciation are likely to be offset by
the gains in the exports performance due to improved external competitiveness.
Since May this year, the local currency has depreciated substantially and fell
to a record level of Rs 68.85 to a dollar on August, 28.
A stagflation like
situation appears to have arisen as inflation jumped to an eight month high of
6.46 % for the month of September. It is up from 6.10 % in August. Growth
continues to be muted with factory output plunging to 0.6 % in August.
Onion prices have risen nearly 300 % from last September. Vegetables cost
nearly 90 % more than they did last year. Wake up to the economic contribution
of slum dwellers. They contribute more than 7.5 % to the country’s gross
domestic product, according to a recent study conducted in 50 top cities.
136000 estimated
number of jobs created during the second quarter of the current financial year.
50000 estimated number of additional jobs in the field of corporate social
responsibility in the coming years.
The International
Finance Corporation expects to come out with its rupee linked bonds issue
before the end of 2013 as a part of its plan to raise $ 1 billion. The Apple
iPhone 5c (Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has
been launched in India from 1st November.
The Land Acquisition
Act to provide just and fair compensation to farmers will come into force from January
1 next year, said Rural Development Minister Jairam Ramesh. The Act replaces a
119 year old registration. The Securities and Exchange Board of India has
approved the trading of currency futures on the Bombay Stock Exchange. The
exchange plans to launch the currency futures platform with advanced trading
technology by the end of November.
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 : |
H-2, Suneja Chambers, Alaknanda Commercial Complex, New Delhi – 110019,
India |
|
Tel. No.: |
91-11-26026362 |
|
Fax No.: |
91-11-26026776 |
|
E-Mail : |
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|
Website : |
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|
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|
Factory : |
Plot No. M-7 Sez-II, Miscellaneous Zone, Pithampur, District –Dhar,
Madhya Pradesh – 454774, India |
|
Tel. No.: |
91-729-2402814 |
|
Fax No.: |
91-729-2402800 |
|
E-Mail : |
DIRECTORS
As on: 29.08.2013
|
Name : |
Mr. Satinder Jeet Singh Sandhu |
|
Designation : |
Director |
|
Address : |
302, Kings I, Royal Retreat,, Charmswood Village, Suraj Kund, Faridabad, 121009, Haryana, India |
|
Date of Birth/Age : |
20.04.1954 |
|
Date of Appointment : |
12.02.2008 |
|
DIN No.: |
00002312 |
|
|
|
|
Name : |
Mr. Narinder Singh Ghumman |
|
Designation : |
Director |
|
Address : |
Village Basal, Chambaghat District Solan, Solan - 173213, Himachal Pradesh, India |
|
Date of Birth/Age : |
24.08.1950 |
|
Date of Appointment : |
12.02.2008 |
|
DIN No.: |
00002052 |
|
|
|
|
Name : |
Mr. Claude Henri Pierret |
|
Designation : |
Director |
|
Address : |
28 Vicarage Road, East Sheen, SW148RU London, United Kingdom |
|
Date of Birth/Age : |
26.07.1963 |
|
Date of Appointment : |
04.03.2008 |
|
DIN No.: |
02046349 |
|
|
|
|
Name : |
Mr. Arijit Das |
|
Designation : |
Managing Director |
|
Address : |
Flat No. 503, Premium Tower- II,Sector A, Shalimar Township, A. B. Road, Indore, 452001, Madhya Pradesh, India |
|
Date of Birth/Age : |
11.06.1960 |
|
Date of Appointment : |
12.03.2012 |
|
PAN No.: |
AANPD3450G |
|
DIN No.: |
05248957 |
|
|
|
|
Name : |
Mr. JEAN LUC CHARLES JOSEPH SPIRE |
|
Designation : |
Director |
|
Address : |
Flat C -5/F-8, Shiu Fai Terrace, Hongkong-Hk Sar China, Hong Kong |
|
Date of Birth/Age : |
04.08.1967 |
|
Date of Appointment : |
29.08.2013 |
|
DIN No.: |
06697984 |
KEY EXECUTIVES
|
Name : |
Mrs. Pooja Hiranandani |
|
Designation : |
Secretary |
|
Address : |
M-30, 2nd Floor, Lajpat Nagar-II, New Delhi, 110024, Delhi, India |
|
Date of Birth/Age : |
24.10.1976 |
|
Date of Appointment : |
02.08.2012 |
|
PAN No.: |
ACBPH4187Q |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 29.08.2013
|
Names of Shareholders |
|
No. of Shares |
|
Shivalik Bimetal Controls Limited, India |
|
15120000 |
|
Aperam Alloys Imphy (Formerly Arcelomittal Stainless and Nickel
Alloys) |
|
59624284 |
|
|
|
|
|
Total |
|
74744284 |
As on: 22.11.2013
|
Names of Shareholders |
|
No. of Shares |
|
Aperam Alloys Imphy (Formerly Arcelomittal Stainless and Nickel
Alloys) |
|
1700000 |
|
|
|
|
|
Total |
|
1700000 |
Equity Share Break up (Percentage of Total Equity)
As on: 29.08.2013
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
79.77 |
|
Bodies corporate |
|
20.23 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of manufacturing and selling of Industrial clad materials. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
Indian Bank, 47-48, Pragati House, Nehru Place, New Delhi - 110019, Delhi, India The Hongkong And Shanghai Banking Corporation Limited |
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Facilities : |
(Rs.
In Millions)
|
|
|
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|
Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
Malik S and Company Chartered Accountants |
|
Address : |
1/101, LGF, Old Rajender Nagar, Sir Ganga Ram Hospital Marg |
|
PAN No.: |
AAGPM5420J |
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|
|
|
Holding company: |
· Aperam Alloys Imphy (formerly known as Arcelor Mittal Stainless Steel and Nickel Alloys) |
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|
|
|
Associates: |
· Shivalik Bimetal Controls Limited CIN No.: L27101HP1984PLC005862 · D Nick Holding PLC · Aperam Alloys USA Inc. · Aperam Stainless Services and Solutions France |
CAPITAL STRUCTURE
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
85000000 |
Equity Shares |
Rs.10/- each |
Rs. 850.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
72144284 |
Equity Shares |
Rs.10/- each |
Rs. 721.443
Millions |
|
|
|
|
|
As on: 29.08.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
85000000 |
Equity Shares |
Rs.10/- each |
Rs. 850.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
76444284 |
Equity Shares |
Rs.10/- each |
Rs. 764.442 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
721.443 |
564.529 |
315.600 |
|
(b) Reserves & Surplus |
(428.519) |
(304.163) |
(152.903) |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
0.000 |
0.000 |
50.000 |
|
Total Shareholders’ Funds (1) + (2) |
292.924 |
260.366 |
212.697 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
63.271 |
123.201 |
182.652 |
|
(b) Deferred tax liabilities (Net) |
30.878 |
23.624 |
14.222 |
|
(c) Other long
term liabilities |
0.287 |
0.188 |
0.188 |
|
(d) long-term
provisions |
0.622 |
0.282 |
0.348 |
|
Total Non-current
Liabilities (3) |
95.058 |
147.295 |
197.410 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
93.073 |
55.996 |
46.045 |
|
(b)
Trade payables |
26.934 |
29.305 |
14.970 |
|
(c) Other
current liabilities |
78.642 |
69.511 |
69.410 |
|
(d) Short-term
provisions |
0.042 |
0.018 |
0.017 |
|
Total Current
Liabilities (4) |
198.691 |
154.830 |
130.442 |
|
|
|
|
|
|
TOTAL |
586.673 |
562.491 |
540.549 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
424.056 |
441.584 |
456.876 |
|
(ii)
Intangible Assets |
0.019 |
0.027 |
0.034 |
|
(iii)
Capital work-in-progress |
0.240 |
1.667 |
0.293 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax
assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
5.828 |
5.888 |
7.325 |
|
(e) Other
Non-current assets |
53.730 |
16.147 |
2.694 |
|
Total Non-Current
Assets |
483.873 |
465.313 |
467.222 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
61.551 |
83.897 |
57.305 |
|
(c)
Trade receivables |
32.182 |
6.302 |
2.588 |
|
(d) Cash
and cash equivalents |
4.478 |
2.897 |
9.658 |
|
(e)
Short-term loans and advances |
3.875 |
3.391 |
3.329 |
|
(f)
Other current assets |
0.714 |
0.691 |
0.447 |
|
Total
Current Assets |
102.800 |
97.178 |
73.327 |
|
|
|
|
|
|
TOTAL |
586.673 |
562.491 |
540.549 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
95.331 |
46.471 |
11.319 |
|
|
|
Other Income |
1.716 |
1.026 |
2.282 |
|
|
|
TOTAL (A) |
97.047 |
47.497 |
13.601 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
157.729 |
131.922 |
79.327 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(60.682) |
(84.425) |
(65.726) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
34.492 |
35.870 |
33.325 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(95.174) |
(120.295) |
(99.051) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
21.929 |
21.563 |
21.214 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(117.103) |
(141.858) |
(120.265) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
7.254 |
9.402 |
14.222 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(124.357) |
(151.260) |
(134.487) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(304.163) |
(152.903) |
(18.416) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(428.520) |
(304.163) |
(152.903) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
21.685 |
74.477 |
8.110 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(1.66) |
(2.02) |
(1.80) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(128.14) |
(318.46) |
(988.80) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(122.83) |
(305.26) |
(1062.51) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(19.97) |
(25.30) |
(22.27) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.40) |
(0.55) |
(0.57) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.53 |
0.69 |
1.08 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.51 |
0.62 |
0.56 |
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
OPERATING RESULTS AND
PERFORMANCE
Financial Year 2012-13 is the fourth year of operations of the Company during which the company achieved a total Revenue (net of customs duty) of Rs. 95.331 millions (Previous year Rs. 46.471 millions) resulting in a loss of Rs. 124.357 millions (Previous year Rs. 151.260 millions).
Loss during the year was mainly on account of lower sales and lower capacity utilisation as the sales as projected in domestic and exports market did not materialise.
The JV Parties have continued their wholehearted support to ensure that the Company has the all the requisite resources at its disposal for a smooth and efficient operations. APERAM has provided financial resources in the form of Equity infusion, as and when necessary to meet the Company’s working capital requirements and commitments towards repayment of term loan, on time.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10368853 |
13/07/2012 |
250,000,000.00 |
THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED |
52 / 60, MAHATMA GANDHI ROAD,, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B45032554 |
|
2 |
10164486 |
28/12/2012 * |
152,500,000.00 |
INDIAN BANK |
47-48, PRAGATI HOUSE, NEHRU PLACE, NEW DELHI, DELHI - 110019, INDIA |
B66225079 |
* Date of charge modification
FIXED ASSETS
· Land and Buildings
· Plant and equipment
· Furniture and fixtures
· Office equipment
· Other 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. 62.24 |
|
|
1 |
Rs. 101.81 |
|
Euro |
1 |
Rs. 84.88 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
1 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
1 |
|
--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 |
|
12 |
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.