|
Report Date : |
25.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
ETCO INDUSTRIES PRIVATE LIMITED [w. e. f. 17.07.2012] |
|
|
|
|
Formerly Known
As : |
ETCO SPINNERS PRIVATE LIMITED [w .e. f 29.07.2004 ] ETCO SERVICES PRIVATE LIMITED ETCO LAND DEVELOPERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
142, Andheri Industrial Estate, Veera Desai Road, Amboli Village,
Andheri (West), Mumbai – 400053, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
16.02.1995 |
|
|
|
|
Com. Reg. No.: |
11-085653 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.100.000 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45102MH1995PTC085653 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACE1393H |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing of Cotton Yarn, Fabrics and Shirts. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 780000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. Latest
financial i.e. 2011-2012 are missing from the government department. From the previous year record, it seems that the company recorded some
accumulated losses. However, trade relations are reported as fair. Business is active.
Payments are reported to be slow. 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.
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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Letter of Credit A4+ |
|
Rating Explanation |
Minimal degree of safety. It carry very high credit risk. |
|
Date |
08.06.2012 |
|
|
|
|
Rating Agency Name |
CRISIL |
|
Rating |
Cash Credit BB - |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
08.06.2012 |
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.
LOCATIONS
|
Registered Office : |
142, Andheri Industrial Estate, Veera Desai Road, Amboli Village,
Andheri (West), Mumbai – 400053, Maharashtra, India |
|
Tel. No.: |
91-22-42382800 |
|
Fax No.: |
91-22-26730130 |
|
E-Mail : |
|
|
|
|
|
Factory : |
Unit Plot No. B-2 and B-3 MIDC Parbhani, District Parbhani – 431401,
Maharashtra, India |
|
Tel. No.: |
91-2452-246427/728 |
DIRECTORS
As on 26.09.2012
|
Name : |
Mr. Ramesh Dahyalal Shah |
|
Designation : |
Director |
|
Address : |
701, Jay Maharashta, Vastu Vikas Chs, Survey No. 287, Gulmohar Cross
Road No.5, Jvpd Scheme, Juhu, Mumbai - 400049, Maharashtra, India |
|
Date of Birth/Age : |
06 03 1961 |
|
Date of Appointment : |
16 02 1995 |
|
DIN No.: |
00297557 |
|
|
|
|
Name : |
Mr. Satyanarayan Ramlalji Kuchhal |
|
Designation : |
Director |
|
Address : |
3c-1203, Whispering Palms, Lokhandwala Towns, Akurli Road, Kandivali
(East), Opposite M and M Gate-3,
Mumbai – 400101, Maharashtra, India |
|
Date of Birth/Age : |
07 08 1950 |
|
Date of Appointment : |
01 06 2010 |
|
DIN No.: |
03093463 |
|
Name : |
Mr. Suresh Kundlik Nagre |
|
Designation : |
Director |
|
Address : |
9/5, Shere Punjab Society, Andheri (East), Mumbai – 400093,
Maharashtra, India |
|
Date of Birth/Age : |
23 08 1980 |
|
Date of Appointment : |
26 09 2012 |
|
DIN No.: |
00312381 |
MAJOR SHAREHOLDERS
As on 26.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Ramesh Dahyalal Shah |
|
5509770 |
|
Ramesh Monica Shah |
|
100 |
|
Etco Telecom Limited |
|
500000 |
|
Ramesh D Shah Family Trust |
|
5503990 |
|
Vinsan Brothers Private Limited |
|
486108 |
|
Hinocha Haresh |
|
10 |
|
Shah Bimal |
|
10 |
|
Sarin Shanker Jay |
|
10 |
|
Masatia Capital Services Limited |
|
3000000 |
|
Ashoo Ashok Khemka |
|
1 |
|
Gagan Ashok Khemka |
|
1 |
|
Total |
|
15000000 |
Equity Share Break up (Percentage of Total Equity)
As on 26.09.2012
|
Category |
Percentage |
|
Bodies corporate |
26.57 |
|
Directors or relatives of Directors |
36.73 |
|
Other top fifty shareholders |
36.70 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Cotton Yarn, Fabrics and Shirts. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
Andhra Bank, Special Corporate Finance
Branch, 16th Floor, Earnest House, Nariman Point, Mumbai - 400021,
Maharashtra, India |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking Relations
: |
---- |
|
|
|
|
Auditors : |
|
|
Name : |
Bhuta Shah and Company Chartered Accountants |
|
Address : |
901, Regent Chambers, Nariman Point,
Mumbai - 400021, Maharashtra, India |
|
PAN No.: |
AAAFB1455G |
|
|
|
|
Subsidiaries : |
|
CAPITAL STRUCTURE
As on 26.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
Rs.10/- each |
Rs. 200.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs. 150.000 Millions |
|
|
|
|
|
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
Rs.10/- each |
Rs. 200.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs. 100.000 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 |
100.000 |
30.000 |
30.000 |
|
|
2] Share Application Money |
0.300 |
0.300 |
0.300 |
|
|
3] Reserves & Surplus |
120.950 |
120.950 |
120.950 |
|
|
4] (Accumulated Losses) |
(25.507) |
(50.161) |
(75.177) |
|
|
NETWORTH |
195.743 |
101.089 |
76.073 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
474.919 |
243.046 |
250.923 |
|
|
2] Unsecured Loans |
207.517 |
310.094 |
152.496 |
|
|
TOTAL BORROWING |
682.436 |
553.140 |
403.419 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
878.179 |
654.229 |
479.492 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
374.999 |
382.354 |
351.771 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
4.805 |
0.005 |
0.005 |
|
|
DEFERRED TAX ASSETS |
8.723 |
20.391 |
5.141 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
265.488
|
133.173 |
68.545 |
|
|
Sundry Debtors |
152.252
|
81.683 |
35.358 |
|
|
Cash & Bank Balances |
99.700
|
55.171 |
4.902 |
|
|
Other Current Assets |
26.329
|
16.462 |
11.211 |
|
|
Loans & Advances |
72.089
|
14.104 |
19.805 |
|
Total
Current Assets |
615.858
|
300.593 |
139.821 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
119.669
|
41.775 |
15.123 |
|
|
Other Current Liabilities |
3.937
|
7.465 |
2.210 |
|
|
Provisions |
2.600
|
0.000 |
0.257 |
|
Total
Current Liabilities |
126.206
|
49.240 |
17.590 |
|
|
Net Current Assets |
489.652
|
251.353 |
122.231 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.126 |
0.343 |
|
|
|
|
|
|
|
|
TOTAL |
878.179 |
654.229 |
479.492 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
59.258 |
28.855 |
(61.920) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
20.437 |
18.973 |
(17.330) |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
38.921 |
9.882 |
(44.590) |
|
|
|
|
|
|
|
|
|
Less |
DEFFERD TAX LIABILITY |
2.600 |
5.151 |
0.298 |
|
|
|
|
|
|
|
|
|
Add |
DEFFERD TAX
ASSETS |
(11.667) |
20.401 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
PRIOR PERIOD
ADJUSTMENT |
0.000 |
0.114 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
24.654 |
25.018 |
(44.888) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(50.159) |
(75.177) |
(30.289) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(25.505) |
(50.159) |
(75.177) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
123.276 |
91.552 |
41.904 |
|
|
TOTAL EARNINGS |
123.276 |
91.552 |
41.904 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Stores & Spares |
2.168 |
0.080 |
1.349 |
|
|
|
Capital Goods |
8.421 |
14.640 |
0.000 |
|
|
TOTAL IMPORTS |
10.589 |
14.720 |
1.349 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.89 |
8.34 |
(14.96) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
NA |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20
|
0.10 |
(0.59) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.13
|
5.96 |
5.53 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.88
|
6.10 |
7.95 |
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 |
No |
|
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 |
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 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U45102MH1995PTC085653 |
|
Name of the
company |
ETCO INDUSTRIES PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
142, Andheri Industrial Estate, Veera Desai Road, Amboli Village, Andheri (West), Mumbai – 400053, Maharashtra, India |
|
This form is for |
Modification of charge |
|
Charge
identification (ID) number of the charge to be modified |
80023481 |
|
Type of charge |
·
Immovable property ·
Any interest in immovable property ·
Book debts
|
|
Particular of
charge holder |
Andhra Bank,
Special Corporate Finance Branch, 16th Floor, Earnest House, Nariman Point, Mumbai – 400021, Maharashtra, India |
|
Nature of
instrument creating charge |
[Both Instruments
modify a single charge]. |
|
Date of
instrument Creating the charge |
17.12.2011 |
|
Amount secured by
the charge |
Rs. 790.000
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest Interest/commission
to be stipulated /charged as per each Bank's Sanction Terms. Terms of Repayment On Demand. Margin As per Bank's
Sanction Terms. Extent and Operation of the charge The charge is
modified by way of First Charge in favour of Andhra Bank exclusively for the
Term Loan facilities aggregating to Rs.250.000 Millions, and by way of Second
Pari Passu Charge in favour of Andhra Bank Consortium for the WC facilities
aggregating to Rs.540.000 Millions, in respect of the Borrower/Mortgagor-I
immovable properties. By way of First Pari Passu Charge in favour of AB and
BOB for all the credit facilities aggregating to Rs.790.000 in respect of the
Mortgagor-II immovable properties. Others |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
|
|
Date of
instrument modifying the charge |
02.02.2011 |
|
Particulars of
the present modification |
The charge is
increased up to Rs.790.000 Millions to cover Rs.535.000 Millions sanctioned
by Andhra Bank and Rs.255.000 Millions sanctioned by Bank of Baroda. |
|
Unsecured Loan |
31.03.2011 (Rs.
in Millions) |
31.03.2010 (Rs.
in Millions) |
|
Loans directors unsecured |
24.500 |
42.729 |
|
Other debt unsecured |
183.017 |
267.365 |
|
Total |
207.517 |
310.094 |
CONTINGENT
LIABILITIES:
(Rs. In Millions)
|
Particulars |
As on 31.03.2011 |
|
Outstanding Bank Guarantees |
11.931 |
|
Unexecuted Capital Contracts (net of advances) |
52.045 |
|
Outstanding Letter of Credit |
28.639 |
FIXED ASSETS
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.53.51 |
|
|
1 |
Rs.84.84 |
|
Euro |
1 |
Rs.71.42 |
INFORMATION DETAILS
|
Report Prepared
by : |
SPN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
27 |
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.