MIRA
INFORM REPORT
|
Report Date : |
04.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
GANDHI AUTOMATIONS PRIVATE LIMITED (w.e.f. 24.03.2008) |
|
|
|
|
Formerly Known
As : |
GANDHI ENTRANCE AUTOMATIONS PRIVATE LIMITED |
|
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|
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Registered
Office : |
2nd Floor, Chawda Commercial Centre, Chincholi Bunder, Link
Road, Malad (West), Mumbai – 400064, Maharashtra |
|
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Country : |
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|
|
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
21.11.2003 |
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|
|
|
Com. Reg. No.: |
11-143240 |
|
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|
|
Capital
Investment / Paid-up Capital : |
Rs.1.000 million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31909MH2003PTC143240 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMG08978E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCG0522G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
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Line of Business
: |
Manufacture of Rolling Shutters, Sliding Gate and Distributors of Entrance
Automation
Systems and Warehouse Equipments. |
|
|
|
|
No. of Employees
: |
200 (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 400000 |
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|
|
|
Status : |
Satisfactory |
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|
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record.
The management has failed to file its financials with the government
department for the year 2012. As per previous year’s record, the company is found to be performing well.
The earning per share of the company appears to be good. Trade relations are reported as fair. Business is active. Payment
terms are usually correct and as per commitments. The company can be considered for 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.
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis - in large part because of strong domestic demand - and growth
exceeded 8% year-on-year in real terms. However, India's economic growth in
2011 slowed because of persistently high inflation and interest rates and
little progress on economic reforms. High international crude prices have
exacerbated the government's fuel subsidy expenditures contributing to a higher
fiscal deficit, and a worsening current account deficit. Little economic reform
took place in 2011 largely due to corruption scandals that have slowed
legislative work. India's medium-term growth outlook is positive due to a young
population and corresponding low dependency ratio, healthy savings and
investment rates, and increasing integration into the global economy. India has
many long-term challenges that it has not yet fully addressed, including
widespread poverty, inadequate physical and social infrastructure, limited
non-agricultural employment opportunities, scarce access to quality basic and
higher education, and accommodating rural-to-urban migration.
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term Rating BBB (Upgraded from BB+) |
|
Rating Explanation |
Moderate degree of safety it carry moderate
credit risk. |
|
Date |
07.03.2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term Rating A3+ (Upgraded from A4+) |
|
Rating Explanation |
Moderate degree of safety it carry higher
credit risk. |
|
Date |
07.03.2012 |
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 : |
Ms. Chitra |
|
Designation : |
Accountant |
|
Contact No.: |
91-22-66720200 |
|
Date : |
02.02.2013 |
LOCATIONS
|
Registered Office/ Factory : |
2nd Floor, Chawda Commercial Centre, Chincholi Bunder, Link
Road, Malad (West), Mumbai – 400064, Maharashtra, India |
|
Tel. No.: |
91-22-66720200/ 66720300 (200 lines)/ 66720234 (Direct) |
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Fax No.: |
91-22-66720201 |
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E-Mail : |
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Website : |
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|
Location : |
Owned |
|
|
|
|
Branch Office : |
Located at: v Pune v Kolkata v
v Ahmedabad v Chennai v
|
DIRECTORS
(AS ON 30.09.2011)
|
Name : |
Mr. Samir Sureshchandra Gandhi |
|
Designation : |
Whole Time Director |
|
Address : |
E-1501, Kukreja Palace II, |
|
Date of Birth/Age : |
05.10.1968 |
|
Date of Appointment : |
21.11.2003 |
|
DIN No.: |
00040981 |
|
|
|
|
Name : |
Mr. Kartik Sureshchandra Gandhi |
|
Designation : |
Whole Time Director |
|
Address : |
E-1301, Kukreja Palace II, |
|
Date of Birth/Age : |
10.09.1974 |
|
Date of Appointment : |
21.11.2003 |
|
DIN No.: |
00055915 |
KEY EXECUTIVES
|
Name : |
Ms. Chitra |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.09.2011)
|
Names of Shareholders |
|
No. of Shares |
|
Samir Sureshchandra Gandhi Kartik Sureshchandra Gandhi |
|
110000 |
|
Samir Sureshchandra Gandhi Nishita Samir Gandhi |
|
70000 |
|
Nishita Samir Gandhi Samir Sureshchandra Gandhi |
|
47500 |
|
Kartik Sureshchandra Gandhi Samir Sureshchandra Gandhi |
|
110000 |
|
Kartik Sureshchandra Gandhi Hiral Kartik Gandhi |
|
70000 |
|
Hiral Kartik Gandhi Kartik Sureshchandra Gandhi |
|
47500 |
|
Ansuya Sureshchandra Gandhi Samir Sureshchandra Gandhi Kartik Sureshchandra Gandhi |
|
45000 |
|
|
|
|
|
Total |
|
500000 |
(AS ON 30.09.2011)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
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Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacture of Rolling Shutters, Sliding Gate and Distributors of Entrance
Automation
Systems and Warehouse Equipments. |
|
|
|
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Terms : |
|
|
Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
Wholesalers and Retailers |
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No. of Employees : |
200 (Approximately) |
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Bankers : |
v Bank of Maharashtra R.B. Mehta Marg, Ghatkopar (East), Mumbai – 400077, Maharashtra, India v Citi Bank Citi Tower, Dr. S. Rao Road, Parel, Mumbai – 400012, Maharashtra, India v Axis Bank Goregaon, Maharashtra, India v ICICI Bank v HDFC Bank |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
Malde Sheth and Associates Chartered Accountants |
|
Address : |
63, Ram Bhuvan, 108/110, Dadasaheb Phalke Road, Dadar (CR), Mumbai –
400014, Maharashtra, India |
|
Tel No.: |
91-22-24113711/ 24114442/ 24114914 |
|
PAN No.: |
AAAFM3690G |
|
Email : |
CAPITAL STRUCTURE
(AS ON 30.09.2011)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity shares |
Rs.10/- each |
Rs.5.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity shares |
Rs.10/- each |
Rs.5.000 millions |
|
|
|
|
|
(AS ON 31.03.2011)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity shares |
Rs.10/- each |
Rs.5.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity shares |
Rs.10/- each |
Rs.1.000 millions |
|
|
|
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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 |
1.000 |
1.000 |
1.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
99.337 |
61.050 |
42.727 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
100.337 |
62.050 |
43.727 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
111.427 |
69.875 |
81.861 |
|
|
2] Unsecured Loans |
5.420 |
7.023 |
11.851 |
|
|
TOTAL BORROWING |
116.847 |
76.898 |
93.712 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
217.184 |
138.948 |
137.439 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
106.617 |
59.336 |
50.302 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
1.895 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.503 |
0.592 |
0.003 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
87.898
|
66.655
|
64.027
|
|
|
Sundry Debtors |
84.727
|
40.723
|
37.706
|
|
|
Cash & Bank Balances |
2.129
|
2.226
|
2.352
|
|
|
Other Current Assets |
10.860
|
16.245
|
5.446
|
|
|
Loans & Advances |
11.172
|
11.415
|
4.320
|
|
Total
Current Assets |
196.786
|
137.264
|
113.851
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
56.555 |
27.784 |
19.868 |
|
|
Other Current Liabilities |
31.999
|
24.046
|
6.161
|
|
|
Provisions |
0.063
|
6.414
|
0.688
|
|
Total
Current Liabilities |
88.617
|
58.244
|
26.717
|
|
|
Net Current Assets |
108.169
|
79.020
|
87.134
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
217.184 |
138.948 |
137.439 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
NA |
330.035 |
289.207 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
284.773 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
NA |
28.924 |
17.120 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
10.601 |
7.951 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
38.287 |
18.323 |
9.169 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
42.727 |
33.700 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
61.050 |
42.727 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Commission Received |
29.324 |
24.268 |
49.099 |
|
|
|
Target Bonus Received |
|
0.000 |
1.120 |
|
|
TOTAL EARNINGS |
29.324 |
24.268 |
50.219 |
|
|
|
|
|
|
|
|
|
|
IMPORTS VALUE |
135.828 |
88.261 |
82.172 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
382.87 |
183.23 |
91.69 |
|
NOTE: The sales
and Profit Figures are not clearly visible.
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
8.76 |
5.92 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
14.76
|
10.43
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.47
|
0.39
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.16
|
1.24
|
2.14
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.22
|
2.36
|
4.26
|
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
(Rs. In Millions) |
||
|
|
|
|
|
|
Sundry Creditors
for Goods |
28.132 |
4.960 |
6.089 |
|
Sundry Creditors
for Expenses |
28.423 |
17.424 |
13.779 |
|
Sundry Creditors
for Fixed Assets |
-- |
5.400 |
0.000 |
|
|
|
|
|
|
Total |
56.555 |
27.784 |
19.868 |
|
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 |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last two 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 |
No |
|
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 |
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 |
UNSECURED LOANS
|
Particulars |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
|
|
|
|
|
|
From Directors |
4.805 |
3.782 |
|
From Banks |
0.615 |
3.241 |
|
|
|
|
|
Total |
5.420 |
7.023 |
NOTE:
The registered office of the company has been shifted from 22, Nirman
Industrial Estate, Chincholi Bunder Link Road, Malad (West), Mumbai – 400 064,
Maharashtra to the present address w.e.f. 22.09.2008.
FORM 8
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10310755 |
|
Corporate
identity number of the company |
U31909MH2003PTC143240 |
|
Name of the
company |
GANDHI
AUTOMATIONS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
2nd Floor, Chawda
Commercial Centre, Chincholi Bunder, Link Road, Malad (West), Mumbai –
400064, Maharashtra, India |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
Bank of
Maharashtra R. B. Mehta Marg,
Ghatkopar (East), Mumbai – 400077, Maharashtra, India |
|
Nature of
description of the instrument creating or modifying the charge |
Memorandum of
record of deposit of title deeds for Equitable Mortgage dated 28.01.2012 |
|
Date of
instrument Creating the charge |
28/01/2012 |
|
Amount secured by
the charge |
Rs.10.500
Millions |
|
Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Rate of Interest 12.75% pa. Base
Rate + 2.25% on monthly rest. Terms of
Repayment As per
arrangement with the Bank. Margin Nil Extent and
Operation of the charge First and Second
charge and Equitable Mortgage over all of title and interest in the said
immovable properties to secure due repayment to the Bank of all principal
amounts, interest, costs, charges, expenses and outstanding due or to become
due to Bank anytime. |
|
Short particulars
of the property charged |
Equitable
Mortgage by Deposit of Title Deeds of Unit No. 1 on ground floor of
"Chawda Industrial Estate" on the property bearing New Survey No.
444, Hissa No. 2 (part) and bearing corresponding CTS No. 1108 of Village
Malad South Taluka Borivali situated at Chincholi Bunder Rd, Malad (West),
Mumbai – 400064, Office No. 707 admeasur. 1610.08 sq. ft.
(149.64 sq. mtrs carpet area) and corresponding super built up area admeasr
2477 sq. ft (230.20 sq mtrs) on the seventh floor of the scheme known as
'ISCON ELEGANCE' scheme of Shree Parasnath (Vejalpur) Co -op Hsg Society
Limited, together with undivided shares admeasur 45 sq. mtrs and the land
measur to 19808 sq. mtrs situated,
lying and being at Mouje Vejalpur (sim) Taluka in the Registration district
of Ahmedabad and sub - district of Ahmedabad -4 (Padi). |
|
Particulars of
the present modification |
Apart from
Equitable Mortgage by Deposit of Title Deeds of Unit No. 1 of "Chawda
Industrial Estate", Malad (West), the loan is further secured buy way of
Equitable Mortgage by Deposit of Title Deeds of office No. 707 known as
'Iscon Elegance' scheme of Shree Parasnath (Vejalpur) Co-op Hsg Society
Limited Mouje Vejalpur (SIM) Taluka, Ahmedabad. |
FIXED ASSETS:
· Air Conditioner
· Computers and Accessories
· Furniture and Fixtures
· Plant and Machinery
· Office Equipments
· Telephone EPABX
· Motor Bikes
· Mobile Phones
· Office Premises
· Motor Cars
· Electrification
· Capital WIP (Flat)
· Capital WIP (Electrical Generator)
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.53.32 |
|
|
1 |
Rs.84.60 |
|
Euro |
1 |
Rs.72.63 |
INFORMATION DETAILS
|
Information Gathered
by : |
PJA |
|
|
|
|
Report Prepared
by : |
NIT |
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 |
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 |
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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
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.