MIRA INFORM REPORT
|
Report Date : |
29.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
KANAKA INFRATECH LIMITED (w.e.f. 14.03.2007) |
|
|
|
|
Formerly Known
As : |
JAYKRISHNA INDUSTRIES LIMITED [TR.CO.] |
|
|
|
|
Registered
Office : |
F/26/27, Ravi Complex, Valia Cross Road, GIDC, Ankleshwar, Bharuch –
393002, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of Incorporation
: |
21.01.1993 |
|
|
|
|
Com. Reg. No.: |
04-045153 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs.165.373 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31900GJ1993PLC045153 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
BRDM01680A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACJ5870E |
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|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Providing service of Electrical Interior and Civil Contractor. |
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|
|
|
No. of Employees
: |
25 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (37) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1400000 |
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|
|
|
Status : |
Moderate |
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|
|
Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a moderate track record. The company has failed to file its financials with the government
department for the year 2012. There appear huge external borrowings recorded by the company.
Reserves appear to be improving. Trade relations are reported as fair. Business is active. payment
terms are reported as 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 |
ICRA |
|
Rating |
SHORT TERM NON-FUND BASED LIMIT : ICRA A4 |
|
Rating Explanation |
Minimal degree of safety and very high credit risk |
|
Date |
09.04.2012 |
|
Rating Agency Name |
ICRA |
|
Rating |
LONG TERM FUND BASED LIMIT : ICRA B+ |
|
Rating Explanation |
High degree of safety |
|
Date |
09.04.2012 |
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 : |
F/26/27, Ravi Complex, Valia Cross Road, GIDC, Ankleshwar, Bharuch –
393002, Gujarat, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
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E-Mail : |
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|
Website : |
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Corporate Office : |
Mangalya Premises Co-operative Society Limited, C-Wing, 5th floor, Opposite Fire Brigade Marol, Andheri (East), Mumbai - 400 059, Maharashtra, India |
|
Tel. No.: |
91-22-40377100 |
|
Fax No.: |
91-22-40377127 |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Jayakrishna Annayya Shetty |
|
Designation : |
Director |
|
Address : |
B-13, Pallavi Beach, Angel Ruia Park, Juhu, Mumbai – 400059,
Maharashtra, India |
|
Date of Birth/Age : |
16.09.1958 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
21.01.1993 |
|
DIN No.: |
01112235 |
|
|
|
|
Name : |
Mrs. Shobha Jayakrishna Shetty |
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Designation : |
Director |
|
Address : |
B-13, Pallavi Beach, Angel Ruia Park, Juhu, Mumbai – 400059,
Maharashtra, India |
|
Date of Birth/Age : |
30.03.1962 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
21.01.1993 |
|
DIN No.: |
02121133 |
|
|
|
|
Name : |
Mr. Umesh Kariyya Shetty |
|
Designation : |
Director |
|
Address : |
301/302, Laxman Jhoola, J P Road, Andheri (West), Mumbai – 400058,
Maharashtra, India |
|
Date of Birth/Age : |
23.04.1966 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
18.02.1997 |
|
DIN No.: |
02631151 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Jaykrishna A.Shetty |
|
3255229 |
|
Shobha J. Shetty |
|
1294874 |
|
Umesh Shetty |
|
100 |
|
Laxmi Shetty |
|
100 |
|
Kariya Shetty |
|
100 |
|
Athith Shetty |
|
126850 |
|
Shridith Shetty |
|
33340 |
|
Mohit Alwa |
|
26670 |
|
Spectra Infratech Private Limited, India |
|
10000000 |
|
Saijan Trading Private Limited, India |
|
1600000 |
|
Kripa Multi Trade Private Limited, India |
|
400000 |
|
Total |
|
16737263 |
List of Allotees
As on 26.03.2012
|
Names of Allotees |
|
No. of Shares
Allotted |
|
|
|
|
|
Lallisales and Marketing Private Limited, India |
|
100000 |
|
Gupteshwar Securities Private Limited, India |
|
100000 |
|
Mansare Trading Private Limited, India |
|
100000 |
|
Javtic Trading Private Limited, India |
|
100000 |
|
Total |
|
400000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2011
|
Category |
|
Percentage |
|
Bodies corporate |
|
71.69 |
|
Directors or relatives of directors |
|
28.15 |
|
Other top fifty shareholders |
|
0.16 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing service of Electrical Interior and Civil Contractor. |
GENERAL INFORMATION
|
Customers : |
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No. of Employees : |
25 (Approximately) |
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Bankers : |
Corporation Bank, Ward No.16, House No.322, Manipal Branch, Manipal –
576104, Karnataka, India |
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Jayantilal K. Shah and Company Chartered Accountants |
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Address : |
22, Indraprastha Shopping Arcade, Old N H No.8, G I D C Ankleshwar – 393002, Gujarat, India |
|
PAN No.: |
AJHPS7669B |
CAPITAL STRUCTURE
After 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000000 |
Equity Shares |
Rs.10/- each |
Rs.250.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
17137263 |
Equity Shares |
Rs.10/- each |
Rs.171.373
Millions |
|
|
|
|
|
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000000 |
Equity Shares |
Rs.10/- each |
Rs.250.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
16537263 |
Equity Shares |
Rs.10/- each |
Rs.165.373
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 |
165.373 |
47.373 |
47.373 |
|
|
2] Share Application Money |
50.595 |
68.595 |
0.000 |
|
|
3] Reserves & Surplus |
141.000 |
102.612 |
95.975 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
356.968 |
218.580 |
143.348 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
437.286 |
319.093 |
232.314 |
|
|
2] Unsecured Loans |
71.294 |
51.563 |
51.563 |
|
|
TOTAL BORROWING |
508.580 |
370.656 |
283.877 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
865.548 |
589.236 |
427.225 |
|
|
|
|
|
|
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|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
58.932 |
58.820 |
57.112 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
1.999 |
2.026 |
2.026 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
183.830
|
153.354 |
80.071 |
|
|
Sundry Debtors |
735.768
|
526.384 |
376.389 |
|
|
Cash & Bank Balances |
0.869
|
1.012 |
1.277 |
|
|
Other Current Assets |
0.000
|
0.000 |
19.353 |
|
|
Loans & Advances |
312.337
|
105.966 |
32.974 |
|
Total
Current Assets |
1232.804
|
786.716 |
510.064 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
405.737
|
240.649 |
126.989 |
|
|
Other Current Liabilities |
4.962
|
4.145 |
2.535 |
|
|
Provisions |
17.500
|
13.548 |
12.473 |
|
Total
Current Liabilities |
428.199
|
258.342 |
141.997 |
|
|
Net Current Assets |
804.605
|
528.374 |
368.067 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.012 |
0.016 |
0.020 |
|
|
|
|
|
|
|
|
TOTAL |
865.548 |
589.236 |
427.225 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1868.088 |
1361.486 |
877.152 |
|
|
|
Other Income |
13.510 |
11.253 |
7.279 |
|
|
|
TOTAL (A) |
1881.598 |
1372.739 |
884.431 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption materials changes inventories |
1752.244 |
1275.030 |
|
|
|
|
Manufacturing service costs |
0.691 |
4.050 |
|
|
|
|
Employee related expenses |
6.730 |
7.887 |
|
|
|
|
Administrative selling other expenses |
15.171 |
16.491 |
|
|
|
|
TOTAL (B) |
1774.836 |
1303.458 |
821.891 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
106.762 |
69.281 |
62.540 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
45.794 |
25.191 |
25.538 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
60.968 |
44.090 |
37.002 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.702 |
1.852 |
1.694 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
59.266 |
42.238 |
35.308 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
18.398 |
13.565 |
12.462 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
40.868 |
28.674 |
22.846 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.47 |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
2.17 |
2.09 |
2.58 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.17 |
3.10 |
4.03 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.59 |
5.00 |
6.23 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.17 |
0.19 |
0.25 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.62 |
2.88 |
2.97 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.88 |
3.05 |
3.59 |
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 |
Yes |
|
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 |
No |
|
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 |
Yes |
UNSECURED LOAN
DETAILS
(Rs.
In Millions)
|
|
As
on 31.03.2011 |
As
on 31.03.2010 |
|
|
|
|
|
Term Loans from Banks |
71.294 |
51.563 |
|
Total |
71.294 |
51.563 |
BUSINESS OVERVIEW
The Company is in process of execution of good revenue generating projects at Pune (Maharashtra), Punjim (Goa), Udupi, Mangalore (Karnataka). The successful execution of these projects, will add value and profitability of the Company in the successive years, ahead.
REVIEW OF OPERATIONS
During the financial year ended 31st March, 2011 the turnover of the Company have been increased from Rs. 1372.739 Millions to Rs.1881.598 Millions. After deducting the Operating and Administrative Expenses amounting to Rs.1824.812 Millions, the Net Profit (Before Tax) arrived at Rs.56.786 Millions. After deducting the Provision for Taxation for current year to Rs.18.398 Millions along with tax for the previous year Rs.0.898 Million the company has reported Net Profit (After Tax) Rs.38.388 Million After adding up the balance brought forward from previous year amounting to Rs.102.612 Millions the surplus Rs.141.000 Millions carried forward to the Balance Sheet.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U31900GJ1993PLC045153 |
|
Name of the
company |
KANAKA INFRATECH
LIMITED |
|
Address of the
registered office or of the principal place of business in |
F/26/27, Ravi Complex, Valia Cross Road, GIDC, Ankleshwar, Bharuch –
393002, Gujarat, India E-mail Id : kanakainfratech@gmail.com |
|
This form is for |
Creation of charge |
|
Type of charge |
Floating charge Others (Personal Guarantee) |
|
Particular of
charge holder |
Corporation Bank, Ward No.16, House No.322, Manipal Branch, Manipal –
576104, Karnataka, India E-mail Id : cs@seil.in |
|
Nature of
instrument creating charge |
Loan agreement dated
01/03/2012 executed between subject (borrower) for availing loan of Rs.10.000
Millions from S. E. Investments Limited and personal guarantee of Directors
in favour of borrower company given by Mr. Jayakrishna Annayya Shetty and
Mrs. Shobha Shetty. |
|
Date of
instrument Creating the charge |
01.03.2012 |
|
Amount secured by
the charge |
Rs.10.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Rate of Interest
charged at the flat rate of 10.75% p.a. or such modified rates as indicated
by the Company. Terms of
Repayment As per the
Agreement. Extent and
Operation of the charge The charge
operates as continuing security for repayment of all dues, costs, interest, charges,
late fees, damages by subject (borrower) to S. E. Investments Limited. In
case of default by subject (borrower) their personal guarantors would be
liable to pay the dues of S. E. Investments Limited. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Personal
Guarantee of Directors of Borrower Company i.e. Mr. Jayakrishna Annayya
Shetty and Mrs. Shobha Shetty. |
FIXED ASSETS
- Land and
Building
- Machinery and
Tools
- Air
Conditioner
- Office
Automation
- Computers
- Furniture and
Fittings
- Motor
Vehicles
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.53.89 |
|
|
1 |
Rs.84.93 |
|
Euro |
1 |
Rs.72.51 |
INFORMATION DETAILS
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
37 |
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.