MIRA
INFORM REPORT
|
Report Date : |
31.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
PARVEEN INDUSTRIES PRIVATE LIMITED |
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Registered
Office : |
32, Phase II, Badli Industrial Estate, Delhi-110042 |
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Country : |
India |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
01.09.1960 |
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Com. Reg. No.: |
55-003290 |
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Capital Investment
/ Paid-up Capital : |
Rs. 5.000 Millions |
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CIN No.: [Company Identification
No.] |
U74999DL1960PTC003290 |
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PAN No.: [Permanent Account No.] |
AAACP4029K |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The company engaged in Manufacturing and Supply of Oil Field Equipment
for Oil and Gas Industry. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
A (60) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
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Maximum Credit Limit : |
USD 5540000 |
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Status : |
Good |
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` |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having fine track record. The management
has failed to file it’s latest financial i.e 2011-2012 with the government
department. However from the previous year record it seems that financial
position of the companies good. Trade relation are reported as fair. Business
is active. Payments are reported to be regular and as per commitment. The company can be considered good for normal business dealings at
usual 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 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 DENIED BY
|
Name : |
Mr. Parveen |
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Designation : |
Director |
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Contact No.: |
91-9911900240 |
|
Date : |
28.01.2013 |
LOCATIONS
|
Registered Office/
Factory 1 : |
Plot No.32, Phase -II, Badli Industrial Estate, |
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Tel. No.: |
91-11-27855468/ 20063882/ 27850008/ 27855468/ 27854612/ 25781927 |
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91-9911900240 |
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Fax No.: |
91-11-27857612/ 3626 |
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E-Mail : |
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Website : |
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Area : |
500 sq. xard |
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Location : |
Industrial |
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Factory 2: |
R-55, MIDC, TTC Industrial Area, |
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Tel. No.: |
91-22-27690897/27694725/27640609/55905732 |
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Fax No.: |
91-22-55905731 |
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E-Mail : |
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Forging Plant : |
Plot No:- 459, EPIP, Kundli Industrial Estate, Kundli, Sonepat, |
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Tel. No.: |
91-130-2372017/2372018/2371154
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Fax No.: |
91-130-2371154 |
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E-Mail : |
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International Sales Office : |
202, |
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Tel. No.: |
91-11-25714775/25763992/25756420/25781927 |
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Fax No.: |
91-11-25763992 |
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E-Mail : |
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Sales Office Mumbai : |
11Q, Laxmi Industrial Estate, Off |
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Tel. No.: |
91-22-26362926/26367440/26329181/56923932 |
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Fax No.: |
91-22-26337240/ 26312553 |
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E-Mail : |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Parveen Kumar Gupta |
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Designation : |
Director |
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Address : |
2-E, Kamla Nagar, Delhi – 110007, India |
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Date of Birth/Age : |
12.09.1950 |
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Qualification : |
B.Tech (Mechnical Engineer) |
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Experience : |
37 Years |
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Date of Appointment : |
01.08.1999 |
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DIN No.: |
00264588 |
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Name : |
Mr. Prakash Kumar Mittal |
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Designation : |
Director |
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Address : |
65-A, Cozi Home, Pali Hill, Bandra (West), Mumbai, Maharashtra, India |
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Date of Birth/Age : |
12.09.1951 |
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Qualification : |
B.Tech (Textile) |
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Experience : |
31 Years |
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Date of Appointment : |
23.06.1989 |
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DIN No.: |
00379001 |
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Name : |
Mr. Sanjiv Kumar |
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Designation : |
Director |
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Address : |
2-E, Kamla Nagar, Delhi – 110007, India |
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Date of Birth/Age : |
13.10.1960 |
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Qualification : |
B.A |
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Experience : |
29 Years |
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Date of Appointment : |
07.12.1987 |
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DIN No.: |
00379012 |
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Name : |
Mr. Prabhat Kumar Gupta |
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Designation : |
Director |
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Address : |
2-A, Prem Shanti Kunj, 2-Club Road Civil Line, Delhi-110054, India |
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Date of Birth/Age : |
16.11.1957 |
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Qualification : |
B.Sc |
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Experience : |
32 Years |
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Date of Appointment : |
14.11.1995 |
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DIN No.: |
00389360 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Parveen Kumar Gupta |
79988 |
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Prakash Kumar Mittal |
79888 |
|
Prabhat Kumar Gupta |
87988 |
|
Sanjiv Kumar |
88076 |
|
Rajni Gupta |
36960 |
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Veena Mittal |
36940 |
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Poonam Gupta |
36920 |
|
Sunita Gupta |
36920 |
|
Mayank Gupta |
8000 |
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Anshu Mittal |
8000 |
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Pradip Kumar |
100 |
|
Neel Garg |
80 |
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Promila Garg |
10 |
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Manish Aggarwal |
10 |
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Anshu Kumar Aggarwal |
10 |
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Padma Aggarwal |
10 |
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Anjani Aggarwal |
100 |
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TOTAL
|
500000 |
AS ON 30.09.2011
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Directors or relatives of Directors |
99.80 |
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Other top fifty shareholders |
0.20 |
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TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company engaged in Manufacturing and Supply of Oil Field Equipment
for Oil and Gas Industry. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
·
Citibank N.A, Jeevan Baharti Building, 4th
Floor, 124 Connaught Circus, Connaught Place, New Delhi – 110001, India ·
Canara Bank, Delhi, India ·
Citi Bank, Kundli ·
Indian Bank, Mumbai, Maharashtra, India ·
ICICI Limited ·
The Toronto Dominion Bank |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Surender K. Aggarwal and Company Chartered Accountant |
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Address : |
I-2/16, Ansari Road, Darya Ganj, New Delhi – 110002, India |
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Tel. No.: |
91-22-23243913/23245744 |
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PAN No.: |
AABFS9615A |
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Related Party : |
·
American Completion Tools INC, USA · Sanjiv Kumar · Prabhat Kumar Gupta ·
Prakash Kumar Mittal · Parveen Kumar Gupta · Promila Garg · Anshu Mittal · Veena Mittal · Poonam Gupta · Sunita Gupta ·
Anchal Gupta ·
Ritika Gupta |
CAPITAL STRUCTURE
AS ON 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
|
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 |
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 |
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|
|
|
|
1] Share Capital |
5.000 |
5.000 |
5.000 |
|
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
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3] Reserves & Surplus |
1381.228 |
1223.267 |
1018.506 |
|
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
1386.228 |
1228.267 |
1023.506 |
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LOAN FUNDS |
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1] Secured Loans |
200.998 |
157.980 |
250.128 |
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2] Unsecured Loans |
7.312 |
0.925 |
3.172 |
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TOTAL BORROWING |
208.310 |
158.905 |
253.300 |
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DEFERRED TAX LIABILITIES |
29.729 |
36.206 |
38.219 |
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TOTAL |
1624.267 |
1423.378 |
1315.025 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
479.347 |
491.727 |
455.434 |
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Capital work-in-progress |
68.500 |
18.797 |
0.516 |
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INVESTMENT |
28.206 |
29.567 |
31.449 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
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|
Inventories |
528.350
|
336.201 |
352.966 |
|
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Sundry Debtors |
332.544
|
313.445 |
406.038 |
|
|
Cash & Bank Balances |
36.159
|
116.119 |
27.118 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
301.140
|
226.863 |
218.181 |
|
Total
Current Assets |
1198.193
|
992.628 |
1004.303 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
131.183
|
76.037 |
|
|
|
Other Current Liabilities |
18.796
|
24.718 |
176.615 |
|
|
Provisions |
0.000
|
8.586 |
0.062 |
|
Total
Current Liabilities |
149.979
|
109.341 |
176.677 |
|
|
Net Current Assets |
1048.214
|
883.287 |
827.626 |
|
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|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1624.267 |
1423.378 |
1315.025 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
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|
SALES |
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|
Income |
|
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Other Income |
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TOTAL |
NA |
NA |
NA |
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PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
290.916 |
374.373 |
503.510 |
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TOTAL
EXPENSES |
NA |
NA |
NA |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
65.152 |
63.566 |
58.445 |
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|
PROFIT / (LOSS)
BEFORE TAX |
225.764 |
310.807 |
445.065 |
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|
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Less |
TAX |
66.589 |
98.557 |
137.599 |
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PROFIT / (LOSS)
AFTER TAX (G-H) |
159.174 |
212.250 |
307.466 |
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|
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|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
NA |
100.000 |
NA |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
112.250 |
NA |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
973.240 |
904.638 |
1317.874 |
|
|
TOTAL EARNINGS |
973.240 |
904.638 |
1317.874 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
318.35 |
424.50 |
61.49 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
13.23
|
20.53 |
29.85 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16
|
0.25 |
0.43 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.15
|
0.13 |
0.25 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
7.98
|
9.08 |
5.68 |
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 |
Yes |
|
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 |
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 |
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 |
Yes |
|
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 |
UNSECURED
LOAN
|
Particulars |
Rs.
In Millions 31.03.2011 |
Rs.
In Millions 31.03.2010 |
|
Due to Directors |
7.287 |
0.900 |
|
Due to Shareholders |
0.025 |
0.025 |
|
|
|
|
|
TOTAL |
7.312 |
0.925 |
PERFORMANCE OF THE
COMPANY:-
The performance of the company during the year was sa11sfadory.
The company continues to be engaged in mfg & supply of oil field equipment for oil & gas industry. Most of the sales of the
company are custom built against international competitive bidding to state
owned oil companies. Turnover
for the year under report showed a growth of 16% over the previous year.
The challenging economic
environment we encountered in .2010-11 b evidenced by our operating margins which were materially lower than the previous year.
The company is already exporting its products to USA, CANADA, KUWAIT,
VENEZULA, BRAZIL; IRAN, INDONESlA, MALAYSIA, SINGAPORE, MIDDLE EAST a EUROPE
and now trying to export its products to CIS Countries also. Exports represents
83% of the company's turnover for the year under report In appreciation of
outstanding export performance, the Company,Is
maintaining the EXPORT HOUSE status
granted by Govt. of India.
The company has lSO 9001; 2008, IS0 -1401; 2W4,
OHSAS18001; 2007 k, Delhi, Kundli Mumbai & New Mumbai Units. Company has ako obtained API 6CT, API-BA, APMA, API-7,
Apt-16A and 11AX In Navl Mumbai Unit whlle Delhi Unit has APMCT, SL, @A, SD, 7,
~ V&I 1 6C and Kundli-II
unit has APC 5CT,8L,6A,
APl-7-1, API llVI, API -16C.. These Qualifications have helped the company in selling Indian Oilfield Equipments Worldwide
The company is in the course of setting up its own foundry for cast
products. This foundry will improve the quality and delivery of raw material
substantially. This will help the company in increasing its sales in .future.
OUT LOOK
The Business prospect of' your company largely depends upon the market
conditions, competition, customer's preferences, economics conditions
prevailing locally and globally, volatility of exchange rate, cost of input, tariff structure and economic
policy of the government since your
company mainly caters to Oil is Gas
Industries, the business
prospect is bright as Oil k the main source of energy.
FORM 8
|
Corporate
identity number of the company |
U74999DL1960PTC003290 |
|
Name of the
company |
PARVEEN INDUSTRIES PVT LTD |
|
Address of the
registered office or of the principal place of business in |
32, Phase-II, Badli Industrial Estate, Delhi-110042, India |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the charge to be modified |
10015414 |
|
Type of charge |
·
Immovable
property |
|
Particular of
charge holder |
Citibank N.A, Jeevan Baharti Building, 4th Floor, 124 Connaught
Circus, Connaught Place, New Delhi – 110001, India Email ID : roc@sdpa.in |
|
Nature of
instrument creating charge |
Deed of
Modification for Loan Agreement |
|
Date of
instrument Creating the charge |
24.08.2012 |
|
Amount secured by
the charge |
Rs. 184.300
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest As per sanction
terms and as may be decided by the bank and company mutually form time to
time Terms of repayment Repayable on
demand, annually renewable Margin Borrower shall at
all times during the continuance of the security maintain a sufficient amount
to provide the margin of security as may from time to time advised by the
bank Extent and operation of the charge First exclusive
charge on the immovable property located at 465, 466 and 467 EPIP Industrial
Area, Kundli, Haryana in favour of Citibank N.A for the repayment of all
monies in respect of the credit facility, including outstanding balance and
also all interest, costs, charges and expenses. |
|
Short particulars
of the property charged (Including location of the property) |
Immovable
Property located at 465, 466 and 467 EPIP Industrial Area, Kundli, Haryana |
|
Date of instrument
modifying the charge |
05.01.2012 |
|
Particulars of
the present modification |
By this
modification the limit is enhanced from Rs. 116.300 Millions to Rs. 184.300
Millions and the charge is secured by first exclusive charge on the immovable
property located at 465, 466 and 467 EPIP Industrial Area, Kundli Haryana. |
FIXED ASSETS
·
Air Conditioners
·
Air Cooler
·
Vehicles
·
Computers
·
Land
·
Fax Machines
·
Typewriter
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.53.57 |
|
|
1 |
Rs.84.37 |
|
Euro |
1 |
Rs.72.23 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVD |
|
|
|
|
Report Prepared
by : |
SPR |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
60 |
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.