|
Report Date : |
22.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
ARFIN INDIA LIMITED |
|
|
|
|
Registered
Office : |
B-302, 3rd Floor, Pelican House, Near Natraj Cinema,
Gujarat Chamber of Commerce Building, Ashram Road, Ahmedabad – 380009,
Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
10.04.1992 |
|
|
|
|
Com. Reg. No.: |
04-017460 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 18.677 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L65990GJ1992PLC017460 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMA05982E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECA1211A |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The company’s shares are listed on
the stock exchanges. |
|
|
|
|
Line of Business
: |
Manufacturer of Aluminium Tubes and Aluminium Wire Rods. |
|
|
|
|
No. of Employees
: |
110 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (18) |
|
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 : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. The
latest financials are not made available with the government department. As per previous year’s, the subject appears to be small company in its
field. It has earned very minimal profit during 2011. However, trade relations are reported to be fair. Business is active.
Payments are reported to be unknown. The company can be considered for business dealings on a safe and
secured 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
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
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 |
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 DECLINED BY
|
Name : |
Mr. Ashit |
|
Designation : |
Finance Head |
|
Contact No.: |
91-79-26583792 |
|
Date : |
20.02.2013 |
LOCATIONS
|
Registered Office : |
B-302, 3rd Floor, Pelican House, Near Natraj Cinema,
Gujarat Chamber of Commerce Building, Ashram Road, Ahmedabad – 380009,
Gujarat, India |
|
Tel. No.: |
91-79-26583791 / 26583792 |
|
Fax No.: |
91-79-25620620 / 26583791 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory 1 : |
118/ 1 Ravi Estate, Near Restige Hotel, Chatral, Gujarat, India |
|
Tel. No.: |
91-2764-232620 |
|
E-Mail : |
DIRECTORS
AS ON 29.02.2012
|
Name : |
Mr. Mahendrakumar Rikhavchand Shah |
|
Designation : |
Director |
|
Address : |
Khandwala Bunglow,
Near Post Office, Dharam Nagar, Sabarmati
Ahmedabad - 380 005, Gujarat, India |
|
Date of Birth/Age : |
09.03.1963 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
30.09.1998 |
|
DIN No.: |
00182746 |
|
|
|
|
Name : |
Ms. Pushpa Mahendra Shah |
|
Designation : |
Director |
|
Address : |
Khandwala
Bunglow, Near Post Office, Dharam Nagar, Sabarmati Ahmedabad - 380 005, Gujarat, India |
|
Date of Birth/Age : |
21.06.1966 |
|
Date of Appointment : |
01.04.2000 |
|
DIN No.: |
00182754 |
|
|
|
|
Name : |
Mr. Jatin Mahendrakumar Shah |
|
Designation : |
Director |
|
Address : |
Khandwala Bunglow, Near Post Office, Dharam Nagar, Sabarmati Ahmedabad - 380 005, Gujarat, India |
|
Date of Birth/Age : |
09.12.1983 |
|
Date of Appointment : |
29.09.2012 |
|
DIN No.: |
00182683 |
KEY EXECUTIVES
|
Name : |
Mr. Dharmendra Ganatra |
|
Designation : |
Company Secretary |
|
Address : |
513, Star Plaza, Phulchhab Chowk, Rajkot – 360001, Gujarat, India |
|
Email ID : |
|
|
Qualification : |
B.com, F.C.S. |
|
|
|
|
Name : |
Mr. Ashit |
|
Designation : |
Finance Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
MAJOR SHAREHOLDERS DETAIL NOT AVAILABLE
AS ON 29.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
24.68 |
|
Directors
or relatives of directors |
|
35.92 |
|
Other
top fifty shareholders |
|
2.69 |
|
Others |
|
36.71 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Aluminium Tubes and Aluminium Wire Rods. |
GENERAL INFORMATION
|
Customers : |
·
Sabic ·
Sunbeam Auto Limited ·
Alicon Castalloy Limited ·
JSL Stainless Limited ·
Glencore International AG ·
RICO Auto Limited ·
JSW Limited ·
Essar Steel Limited ·
NatSteel, Singapore ·
Hindustan Aeronautics Limited ·
TISCO Limited ·
Shah Alloys Limited ·
Viswesaria Iron and Steel Limited |
|
|
|
|
No. of Employees : |
110 (Approximately) |
|
|
|
|
Bankers : |
·
State Bank of India, Overseas Branch, 3rd
Floor, Navjivan Trust Complex, Amrut – Jayanti Bhavan, Ahmedabad – 380014,
Gujarat, India ·
Punjab National Bank, Ambawadi Branch, Harikrupa Tower,
Ellisbrigde, Ahmedabad – 380006, Gujarat, India ·
Axis Bank Limited, Corporate Banking Branch, 2nd
Floor, 3rd Eye One, Near Panchavati Crossing, C. G. Road,
Ahmedabad – 380009, Gujarat, India ·
Axis Bank Limited, RAC Ahmedabad, CV/ CE
Department, 4th Floor, Shivalik Ishan, Nr. C. N. Vidhyalaya,
Ambawadi, Ahmedabad - 380006, Gujarat, India |
|
|
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Raman M. Jain and Company Chartered Accountants |
|
Address : |
B-31-33, Ganshyam Avenue, Opposite
C. U. Shah College, Navjivan, Income Tax, Ahemdabad – 380014, Gujarat,
India |
|
Income-tax
PAN of auditor or auditor's firm : |
ABHPJ8145K |
|
|
|
|
Enterprises significantly
influenced by Directors and or their relatives : |
·
Arfin Enterprise Limited ·
Arfin Capital Limited ·
Mahendra Corporation ·
Sakar Ferro Alloys Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3500000 |
Equity Shares |
Rs. 10/- each |
Rs. 35.000 Millions |
|
|
|
|
|
Issued, Subscribed :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3018300 |
Equity Shares |
Rs. 10/- each |
Rs. 30.183 Millions |
|
|
|
|
|
Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1867725 |
Equity Shares |
Rs. 10/- each |
Rs. 18.677
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 |
18.677 |
18.677 |
18.677 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
10.126 |
10.051 |
10.178 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
28.803 |
28.728 |
28.855 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
9.700 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
9.700 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
1.853 |
1.853 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
40.356 |
30.581 |
28.856 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
21.059 |
9.913 |
9.913 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
17.211 |
17.211 |
17.211 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.196
|
0.196 |
0.196 |
|
|
Sundry Debtors |
0.242
|
0.000 |
0.000 |
|
|
Cash & Bank Balances |
0.095
|
0.236 |
0.088 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
2.016
|
3.529 |
4.050 |
|
Total
Current Assets |
2.549
|
3.961 |
4.334 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
0.154
|
0.195 |
0.365 |
|
|
Other Current Liabilities |
0.000
|
0.000 |
1.931 |
|
|
Provisions |
0.309
|
0.309 |
0.306 |
|
Total
Current Liabilities |
0.463
|
0.504 |
2.602 |
|
|
Net Current Assets |
2.086
|
3.457 |
1.732 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
40.356 |
30.581 |
28.856 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
0.000 |
0.000 |
0.000 |
|
|
|
Other Income |
0.377 |
0.333 |
1.362 |
|
|
|
TOTAL (A) |
0.377 |
0.333 |
1.362 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Salary cost |
0.000 |
0.000 |
0.383 |
|
|
|
Administrative Selling other Expenses |
0.301 |
0.460 |
0.237 |
|
|
|
TOTAL (B) |
0.301 |
0.460 |
0.620 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
LOSS BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
0.076 |
(0.127) |
0.742 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.000 |
0.000 |
0.002 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
LOSS BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
0.076 |
(0.127) |
0.740 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.000 |
0.000 |
0.226 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ LOSS
BEFORE TAX (E-F) (G) |
0.076 |
(0.127) |
0.514 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
0.144 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ LOSS AFTER
TAX (G-H) (I) |
0.076 |
(0.127) |
0.370 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(1.745) |
(1.618) |
(1.988) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(1.669) |
(1.745) |
(1.618) |
|
|
|
|
|
|
|
|
|
|
Earnings/ Loss
Per Share (Rs.) |
0.04 |
(0.07) |
0.20 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
20.16 |
(38.14) |
27.17 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.32 |
(0.92) |
3.61 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00 |
0.00 |
0.02 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debts/Networth) |
|
0.34 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
5.51 |
7.86 |
1.67 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
(Rs. In Millions) |
||
|
Creditors due small micro enterprises |
0.000 |
0.000 |
0.000 |
|
Creditors due others |
0.154 |
0.195 |
0.365 |
|
Total |
0.154 |
0.195 |
0.365 |
|
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
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 |
Yes |
|
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 |
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 |
No |
Note: The registered
address of the company has been shifted from H - 10, Madhavpura Market, Shahi
Baug Road, Ahmedabad – 380001, Gujarat, India to the present w.e.f. 30.06.2012
UNSECURED LOAN
|
Unsecured Loan |
As
on 31.03.2011 (Rs.
in Millions) |
As
on 31.03.2010 (Rs.
in Millions) |
|
Rupee term loans others unsecured |
9.700 |
0.000 |
|
Total |
9.700 |
0.000 |
CHARGES
|
ENTITY |
PERSON |
COMPETENT AUTHORITY |
REGULATORY CHARGES |
REGULATORY ACTION(S) / DATE OF ORDER |
FURTHER DEVELOPMENTS |
|
ARFIN INDIA LTD. |
|
RBI |
NOT AVAILABLE |
CANCELLATION OF CERTIFICATE OF REGISTRATION |
|
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity number of the company |
L65990GJ1992PLC017460 |
|
Name of the company |
ARFIN INDIA LIMITED |
|
Address of the registered office or of the principal place of business in India of the company |
B-302, 3rd Floor, Pelican House, Near Natraj Cinema,
Gujarat Chamber of Commerce Building, Ashram Road, Ahmedabad – 380009,
Gujarat, India Email: mahendra@arfin.co.in |
|
This form is for |
Creation of charge |
|
Charge identification number of the modified |
10335497 |
|
Type of charge |
·
Book debts ·
Movable property (not being pledge) ·
Floating charge |
|
Particular of charge holder |
Axis Bank Limited, Corporate Banking Branch, 2nd Floor, 3rd
Eye One, Near Panchavati Crossing, C. G. Road, Ahmedabad – 380009, Gujarat,
India Email ID: udit.desai@axisbank.com |
|
Nature of description of the instrument creating or modifying the
charge |
Deed of hypothecation of current assets (stock and book debts) |
|
Date of instrument Creating the charge |
23.11.2012 |
|
Amount secured by the charge |
Rs. 30.000 Millions |
|
Brief particulars of the principal terms an conditions and extent and operation
of the charge |
Rate of Interest
As per the existing sanction terms of Cash Credit facility i.e.,
BR+3.25% i.e. 13.25% per annum. {payable at monthly rests} Terms of
Repayment After 3 months Margin Stocks: 25% Book Debts: 40% (cover period 90) Extent and
Operation of the charge The Charge being hypothecated over the all kinds of stocks, goods,
book debts to secure the aggregate Ad hoc Cash credit limit of Rs. 3.00 Crore
including interest, cost and charges Others As per the sanction letter Ref. No. WZ/SME/RS/2012-13/506 Dated
21.11.2012 |
|
Short particulars of the property charged |
Hypothecation over the all the stocks in trade consisting stock
including raw material, stock in process, finished goods, book debts etc., Hypothecation on all kinds of current assets. More particulars of property charged as per the Hypothecation dated
23.11.2012 which have been attached herewith this form. |
FIXED ASSETS
·
Freehold Land
·
Building
·
Office – Building
·
Office Equipments
·
Furniture
·
Electrical Installation
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. 54.48 |
|
|
1 |
Rs. 82.71 |
|
Euro |
1 |
Rs. 72.23 |
INFORMATION DETAILS
|
Information
Gathered by : |
JML |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
18 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.