MIRA
INFORM REPORT
|
Report Date : |
31.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
VARDHMAN STAMPINGS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
S-2, Murlidhar Complex, Near Snehkunj Bus Stop, S M Road, Ambawadi,
Ahmedabad – 380 015, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
09.04.1986 |
|
|
|
|
Com. Reg. No.: |
04-008612 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 30.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51909GJ1986PTC008612 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMV02077F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACV7624G |
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|
|
Legal Form : |
Private Limited Liability Company
|
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Power Transformer Lamination. |
|
|
|
|
No. of Employees
: |
125 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 620000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
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|
|
Litigation : |
Clear |
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|
Comments : |
Subject is a part of Vardhman Group. It is an established company having a satisfactory track record. Latest financials of the companies are not available As per available of 2011, there appears dip in the profit of the
company. However, reserve of the company appears to be decent. Trade relations are fair. Business is active. Payment terms are reported
as slow but correct. The company can be considered for business dealings with some caution.
|
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
India’s current
account deficit narrowed in the quarter ended September as government measures
to curb imports, especially gold, kicked in. The current account deficit,
the excess of a country’s imports of goods and services over exports, narrowed
to $ 5.2 billion from $ 21 billion in the year ago period, according to
provisional Reserve Bank of India data. Finance Minister P. Chidambaram said
the CAD for the year will be less than $ 60 billion or 3 per cent of GDP and
the latest data suggests the government may achieve the target.
India was ranked 94th
among the world’s most corrupt nations list. Denmark and New Zealand topped as
the cleanest while Somalia emerged as the most corrupt.
India’s services
sector activity witnessed a moderate improvement in November over the previous
month, even while indicating the fifth successive monthly contraction,
according the HSBC survey.
$53 million estimated
losses suffered by India due to phishing attacks during the third quarter,
according to a study by RSA. India ranks fourth in the list of nations hit by
phishing attacks. The US remained at the top of the charts. Phishing is the
process of acquiring information such as user names, passwords and credit card
details by sending e-mails disguised as official mails.
Rs.4080 million
worth of mobile-phone-based transactions by July 2013 compared to Rs.260
million in September, 2012, according to Deloitte report. The number of
transactions has shot up from 94000 to 701000.
India aims to earn
Rs.400000 million from the bandwidth auction set for January. The merger and
acquisition guidelines, cleared by a group of ministers, will be out before the
auction begins so that players can make informed decisions on the auctions.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
BBB+ (Long Term Rating) |
|
Rating Explanation |
Having Moderate degree of safety and carry moderate credit risk. |
|
Date |
21.01.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A2 (Short Term Rating) |
|
Rating Explanation |
Having Strong degree of safety and carry low credit risk. |
|
Date |
21.01.2013 |
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
|
Name : |
Mr. Nakul Parikh |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-79-26562689 |
|
Date : |
26.12.2013 |
LOCATIONS
|
Registered Office : |
S-2, Murlidhar Complex, Near Snehkunj Bus Stop, S M Road, Ambawadi,
Ahmedabad – 380 015, Gujarat, India |
|
Tel. No.: |
91-79-26469609 / 2656 2689. |
|
Fax No.: |
91-79-26461108 |
|
E-Mail : |
crgo@vspl.co.in vinod@vardhmanstampings.com |
|
Website : |
www.vspl.co.in |
|
Area : |
2500 sq.fts |
|
Location : |
Owned |
|
|
|
|
Factory : |
S N 132/C, Budasan Village, Irana Road, Via Kalol, Post Karan Nagar,
District Mehsana – 382 721, Gujarat, India
|
|
Tel. No.: |
91-2764-277866 – 867 |
|
Fax No.: |
91-2764-277445 |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Vinod Chinubhai Shah |
|
Designation : |
Director |
|
Address : |
19, Tapovan Society, Nehru Nagar, Ambawadi, Ahmedabad-380015, Gujarat,
India |
|
Date of Birth/Age : |
09.04.1986 |
|
Date of Appointment : |
09.04.1986 |
|
DIN No.: |
01836654 |
|
|
|
|
Name : |
Mr. Dipakkumar Chinubhai Shah |
|
Designation : |
Director |
|
Address : |
34, Mithia Scoiety, Ambawadi, Ahmedabad-380005, Gujarat, India |
|
Date of Birth/Age : |
03.11.1957 |
|
Date of Appointment : |
01.04.2006 |
|
DIN No.: |
01836659 |
|
|
|
|
Name : |
Mr. Prashant Kamleshbhai Shah |
|
Designation : |
Director |
|
Address : |
257, Manekbag Society, Ellisbridge, Ambawadi, Ahmedabad-380015,
Gujarat, India |
|
Date of Birth/Age : |
07.03.1977 |
|
Date of Appointment : |
01.04.2006 |
|
DIN No.: |
00233808 |
KEY EXECUTIVES
|
Name : |
Mr. Nakul Parikh |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Vinodbhai C. Shah |
|
150000 |
|
Pathik Vinodbhai Shah |
|
200000 |
|
Krutarth V. Shah |
|
200000 |
|
Ranjanben V. Shah |
|
300000 |
|
Vinod C. Shah HUF 3 |
|
50000 |
|
Vinod C. Shah HUF |
|
50000 |
|
Vinod C. Shah HUF |
|
50000 |
|
Kamleshbhai C. Shah |
|
150000 |
|
Parthiv K. Shah |
|
200000 |
|
Prashant K. Shah |
|
200000 |
|
Bhartiben K. Shah |
|
300000 |
|
Kamleshbhai C. Shah HUF |
|
50000 |
|
Kamleshbhai C. Shah HUF |
|
50000 |
|
Kamleshbhai C. Shah HUF |
|
50000 |
|
Dipakbhai C. Shah |
|
150000 |
|
Hardik Dipakbhai Shah |
|
200000 |
|
Samkit Dipakbhai Shah |
|
200000 |
|
Ninaben D. Shah |
|
300000 |
|
Dipak C. Shah HUF |
|
50000 |
|
Dipak C. Shah HUF |
|
50000 |
|
Dipak C. Shah HUF |
|
50000 |
|
TOTAL
|
|
3000000 |
As on 30.09.2011
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 Exporter of Power Transformer Lamination. |
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Products : |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
·
Middle East Countries ·
Africa ·
North East Africa
|
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Imports : |
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Products : |
Raw Materials |
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Countries : |
·
USA ·
Japan ·
Korea ·
Russia ·
Germany ·
UK ·
Brazil |
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Terms : |
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Selling : |
Cash / Credit |
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Purchasing : |
Cash / Credit |
PRODUCTION STATUS (AS ON : 31.03.2010)
|
Particulars |
Unit |
Actual
Production |
|
CRGO Wound Core (Part of Transformer) |
Kgs |
59535.777 |
|
Electrical Lamination (Transformer Part Core) |
Kgs |
181591.300 |
|
CRGO Coil L 600 (Slit Coils) |
Kgs |
1671397.180 |
|
CRGO Stack / Assembly (Part of Induction Furnace) |
Kgs |
9348.000 |
GENERAL INFORMATION
|
Customers : |
Retailers |
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No. of Employees : |
125 (Approximately) |
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Bankers : |
Bank of Baroda, S M Road, Ambawadi, Ahmedabad-380006, Gujarat,
India Tel. No.: 91-79-26601257 |
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|||||||||||||||||||||
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Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
Mukesh M Shah and Company Chartered Accountants |
|
Address : |
1st Floor, H K house, Ashram Road, Ahmedabad – 380 009,
Gujarat, India |
|
PAN No.: |
AAIFM0810A |
|
|
|
|
Sister Concern : |
·
SPI Industries Private Limited ·
Nauka Trans Core ·
Veer Steel Processor |
CAPITAL STRUCTURE
As on 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs. 30.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs. 30.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
30.000 |
30.000 |
30.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
125.039 |
96.457 |
61.319 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
155.039 |
126.457 |
91.319 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
105.289 |
112.202 |
90.698 |
|
|
2] Unsecured Loans |
123.893 |
62.613 |
86.000 |
|
|
TOTAL BORROWING |
229.182 |
174.815 |
176.698 |
|
|
DEFERRED TAX LIABILITIES |
2.513 |
3.032 |
1.074 |
|
|
|
|
|
|
|
|
TOTAL |
386.734 |
304.304 |
269.091 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
93.243 |
76.945 |
35.958 |
|
|
Capital work-in-progress |
8.273 |
2.484 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.001 |
0.001 |
0.001 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
168.016
|
201.805 |
139.355 |
|
|
Sundry Debtors |
246.550
|
152.689 |
231.963 |
|
|
Cash & Bank Balances |
110.685
|
108.483 |
46.471 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
39.883
|
63.418 |
31.899 |
|
Total
Current Assets |
565.134
|
526.395 |
449.688 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
264.922
|
282.049 |
210.151 |
|
|
Other Current Liabilities |
4.413
|
4.270 |
4.650 |
|
|
Provisions |
10.582
|
15.202 |
1.755 |
|
Total
Current Liabilities |
279.917
|
301.521 |
216.556 |
|
|
Net Current Assets |
285.217
|
224.874 |
233.132 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
386.734 |
304.304 |
269.091 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1275.467 |
1053.328 |
1130.711 |
|
|
|
Other Income |
|
15.139 |
17.063 |
|
|
|
TOTAL (A) |
1275.467 |
1068.467 |
1147.774 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption of Material and Finished Goods |
|
922.816 |
1015.359 |
|
|
|
Manufacturing Expenses |
|
16.893 |
13.020 |
|
|
|
Administrative Expenses |
|
35.659 |
66.137 |
|
|
|
TOTAL (B) |
1217.914 |
975.368 |
1094.516 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
[Including Financial |
93.099 |
53.258 |
|
|
|
|
Expenses] |
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
26.199 |
23.329 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
57.553 |
66.900 |
29.929 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
11.729 |
7.875 |
4.563 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
45.824 |
59.025 |
25.366 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
15.499 |
22.138 |
8.984 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
30.325 |
36.887 |
16.382 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
25.997 |
10.859 |
8.732 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
20.000 |
20.000 |
12.500 |
|
|
|
Dividend |
NA |
1.500 |
1.500 |
|
|
|
Tax on Dividend |
NA |
0.249 |
0.255 |
|
|
BALANCE CARRIED
TO THE B/S |
34.580 |
25.997 |
10.859 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
58.277 |
56.663 |
223.029 |
|
|
TOTAL EARNINGS |
58.277 |
56.663 |
223.029 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
840.049 |
685.492 |
|
|
|
Capital Goods |
NA |
40.432 |
5.452 |
|
|
TOTAL IMPORTS |
NA |
880.481 |
690.944 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
10.11 |
12.30 |
5.46 |
|
|
Particulars |
|
31.03.2013 |
31.03.2012 |
|
Sales Turnover (Approximately) |
|
1400.000 |
1430.000 |
|
|
|
|
|
The above information has been parted by Mr. Nakul Parikh.
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
2.38
|
3.45 |
1.43 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
5.60 |
2.24 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.96
|
9.78 |
5.22 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.30
|
0.47 |
0.28 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.48
|
1.38 |
1.93 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.02
|
1.75 |
2.08 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT: 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 |
Yes |
|
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 |
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 |
Yes |
|
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) |
Yes |
|
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 |
No |
|
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 |
REVIEW OF BUSINESS
The turnover and registering profit after tax of Rs. 30.325 Millions
which was made possible through the inserting capital equipment last year and
better production planning Directors are exploring various other opportunities
to further improve the working result during the current year.
UNSECURED LOAN
Rs.
In Millions
|
Particular |
As
on 31.03.2011 |
As
on 31.03.2010 |
|
Loans directors unsecured |
74.469 |
44.379 |
|
Other debt unsecured |
49.424 |
18.234 |
|
TOTAL |
123.893 |
62.613 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10465919 |
27/10/2012 |
32,000,000.00 |
Bank Of Baroda |
S M Road, Ambawadi, Ahmedabad-380006, Gujarat, India |
B83486795 |
|
2 |
10464649 |
09/08/2012 |
17,000,000.00 |
Bank Of Baroda |
S M Road, Ambawadi, Ahmedabad-380006, Gujarat, India |
B83485631 |
|
3 |
90104448 |
23/04/2012 * |
1,295,000,000.00 |
Bank Of Baroda |
S M Road, Ambawadi, Ahmedabad-380006, Gujarat, India |
B38186755 |
* Date of charge modification
FIXED ASSETS
· Land
· Buildings
· Plant and Machinery
· Vehicles
· Furniture
· Office Equipments
· Electrical Installation
· Air Conditioners
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.62.00 |
|
|
1 |
Rs.102.17 |
|
Euro |
1 |
Rs.85.19 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--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 |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
47 |
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.