MIRA INFORM REPORT
|
Report Date : |
06.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
VISION SPONGE IRON PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
227, A J C Bose Road, Anandlok, 3rd Floor, Kolkata –
700020, West Bengal |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
01.03.2002 |
|
|
|
|
Com. Reg. No.: |
21-094315 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 61.598 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U94315WB2002PTC094315 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCV4791R |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the manufacture and sale of iron and steel products and generation of power. The Company is also engaged in financial sector transactions. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 2400000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The company’s profitability has seen a downward hit due to a steep increase
in iron ore price resulting increase in raw material cost. Company has set up
two new plants which commenced there operation in April 2012 but due to
scarcity of iron ore the capacity utilization of there plans remained very
low. Which added to the high fixed costs which led to the significant decline
in the company’s margin during 2012. It seems that the working capital
requirements are increasing over years. However, trade relations are fair. Business is active. Payment terms
are slow but correct. The company can be considered normal 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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating = BB- |
|
Rating Explanation |
Moderate risk of default regarding timely servicing of financial
obligations |
|
Date |
05.12.2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = A4+ |
|
Rating Explanation |
Minimal degree of safety regarding timely payment. |
|
Date |
05.12.2012 |
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 : |
227, A J C Bose Road, Anandlok, 3rd Floor, Kolkata –
700020, West Bengal, India |
|
Tel. No.: |
91-33-22471180 / 22405487 |
|
Fax No.: |
91-33-22405483 / 22834141 |
|
E-Mail : |
|
|
|
|
|
Factory : |
Rakta, P.O. Madhukunda, District, Purulia, P.S. Santuri, West Bengal,
India |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Shrigopal Jhunjhunwala |
|
Designation : |
Director |
|
Address : |
12C, Chakraberia Road, North, Kolkata – 700020, West Bengal, India |
|
Date of Birth/Age : |
30.04.1943 |
|
Date of Appointment : |
01.03.2002 |
|
DIN No.: |
00081429 |
|
Voter ID No.: |
WB/23/146/267143 |
|
|
|
|
Name : |
Mr. Sandeep Jhunjhunwala |
|
Designation : |
Director |
|
Address : |
12C, Chakraberia Road, North, Kolkata – 700020, West Bengal, India |
|
Date of Birth/Age : |
21.08.1971 |
|
Date of Appointment : |
01.03.2002 |
|
DIN No.: |
00606481 |
|
PAN No.: |
ACTPJ6800E |
|
Voter ID No.: |
WB/23/146/267150 |
|
|
|
|
Name : |
Mr. Siddhartha Jhunjhunwala |
|
Designation : |
Director |
|
Address : |
12C, Chakraberia Road, North, Kolkata – 700020, West Bengal, India |
|
Date of Birth/Age : |
17.10.1977 |
|
Date of Appointment : |
02.05.2008 |
|
DIN No.: |
00606607 |
|
PAN No.: |
ACRPJ8641F |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
SHAREHOLDING DETAILS FILE ATTACHED
As on 29.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
34.00 |
|
Directors or relatives of Directors |
66.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the manufacture and sale of iron and
steel products and generation of power. The Company is also engaged in
financial sector transactions. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||
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Bankers : |
|
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|||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
R S P M and Company Chartered Accountants |
|
Address : |
9, Lal Bazar, Street, Block-A, 1st Floor ,
Mercantile Building, Kolkata- 700001, West Bengal, India |
|
PAN No.: |
AADFP3681K |
|
|
|
|
Other Related Party : |
|
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7000000 |
Equity Shares |
Rs.10/- each |
Rs.70.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6159750 |
Equity Shares |
Rs.10/- each |
Rs.61.598
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
61.598 |
61.598 |
|
(b) Reserves & Surplus |
|
556.485 |
540.169 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
618.083 |
601.767 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
469.931 |
664.308 |
|
(b) Deferred tax liabilities (Net) |
|
21.316 |
13.792 |
|
(c) Other long term
liabilities |
|
389.792 |
76.901 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
881.039 |
755.001 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
633.955 |
301.168 |
|
(b) Trade
payables |
|
19.379 |
5.051 |
|
(c) Other
current liabilities |
|
18.600 |
97.951 |
|
(d) Short-term
provisions |
|
31.843 |
31.443 |
|
Total Current
Liabilities (4) |
|
703.777 |
435.613 |
|
|
|
|
|
|
TOTAL |
|
2202.899 |
1792.381 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
1187.866 |
279.306 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
38.286 |
731.773 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.180 |
0.438 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
7.655 |
40.071 |
|
(e) Other
Non-current assets |
|
8.239 |
7.150 |
|
Total Non-Current
Assets |
|
1242.226 |
1058.738 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
519.768 |
279.447 |
|
(c) Trade
receivables |
|
151.924 |
103.962 |
|
(d) Cash
and cash equivalents |
|
28.140 |
50.041 |
|
(e)
Short-term loans and advances |
|
260.841 |
193.258 |
|
(f) Other
current assets |
|
0.000 |
106.935 |
|
Total
Current Assets |
|
960.673 |
733.643 |
|
|
|
|
|
|
TOTAL |
|
2202.899 |
1792.381 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
61.598 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
508.385 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
569.983 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
504.957 |
|
|
2] Unsecured Loans |
|
|
16.715 |
|
|
TOTAL BORROWING |
|
|
521.672 |
|
|
DEFERRED TAX LIABILITIES |
|
|
13.053 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1104.708 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
324.001 |
|
|
Capital work-in-progress |
|
|
289.507 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
2.863 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
154.352 |
|
|
Sundry Debtors |
|
|
89.396 |
|
|
Cash & Bank Balances |
|
|
51.120 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
247.998 |
|
Total
Current Assets |
|
|
542.866 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
42.530 |
|
|
Other Current Liabilities |
|
|
21.913 |
|
|
Provisions |
|
|
28.524 |
|
Total
Current Liabilities |
|
|
92.967 |
|
|
Net Current Assets |
|
|
449.899 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
38.438 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1104.708 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1345.421 |
946.283 |
709.197 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
1345.421 |
946.283 |
709.197 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
1235.953 |
85.160 |
645.065 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
1235.953 |
852.160 |
645.065 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
DEPRECIATION AND OTHER NON-CASH EXPENSES |
109.468 |
94.123 |
64.132 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION AND OTHER NON-CASH EXPENSES |
85.662 |
47.636 |
38.295 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
23.806 |
46.487 |
25.837 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
7.490 |
14.704 |
12.207 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
16.316 |
31.783 |
13.630 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
147.841 |
116.058 |
102.428 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
164.157 |
147.841 |
116.058 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.65 |
5.16 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.21
|
3.36 |
1.92 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.44
|
5.95 |
2.98 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04
|
0.08 |
0.05 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.79
|
1.60 |
0.91 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.37
|
1.68 |
5.84 |
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 |
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 |
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 |
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
Yes |
|
34] |
External Agency Rating, if available |
Yes |
FINANCE
During the year the Company has been able to retire all its debt as and when it was payable.
UNSECURED LOAN
Rs.
In Millions
|
Particular |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
Short-term
borrowings |
|
|
|
Loans and advances from others |
33.415 |
11.315 |
|
Total |
33.415 |
11.315 |
BANKERS CHARGES REPORT
AS PER REGISTRY
|
Corporate
identity number of the company |
U94315WB2002PTC094315 |
|
Name of the
company |
VISION SPONGE
IRON PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
227, A J C Bose Road, Anandlok, 3rd Floor, Kolkata –
700020, West Bengal, India |
|
This form is for |
Modification of charge |
|
Charge identification
(ID) number of the charge to be modified |
10134315 |
|
Type of charge |
|
|
Particular of
charge holder |
State Bank of India, Commercial Branch, Kolkata, 24, Park Street, Kolkata - 700016, West Bengal, India |
|
Nature of
instrument creating charge |
Memorandum of
Deposit for Creation of further Charge for Overall Limit where Initial Charge
is created by way of Mortgage by Deposit of Title Deeds |
|
Date of
instrument Creating the charge |
13.07.2012 |
|
Amount secured by
the charge |
Rs.1383.500
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest WC : Sate Bank of
India : Base Rate+4.25%, Bank of India : Base Rate+3.75%, Punjab
National Bank : Base Rate+4.25%, IOB
: Base Rate+3.50% and Bank of Baroda:
Base Rate+4.50%. For TL : As per
existing terms of Sanction of the respective Term Lenders. Terms of Repayment The Borrower
shall repay the Working Capital Limit on demand of the Lenders. For Term Loan: As
per the existing terms of Sanction of the respective Term Lenders. Margin As per the terms
of Sanction of the respective Bank/s. Extent and Operation of the charge The charge shall
operate as pari passu first charge basis amongst the Term Lenders and pari
passu second charge basis amongst the Working Capital Bankers on the entire
fixed assets of the Company (both movables and immovables) without any
preference or priority of one over the other or others to secure the overall
limit of Rs.1383.500 Millions (Sate Bank of India Rs.427.000 Millions, Bank
of India Rs.241.500 Millions, Punjab National Bank Rs.250.000 Millions, Indian
Overseas Bank Rs.170.000 Millions,
SBH Rs.80.000 Millions, OBC Rs.135.000 Millions and Bank of Baroda Rs.80.000
Millions). Others The Borrower
shall not do or allow anything which may prejudice the security and shall
comply with the terms and conditions of the Agreements. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
All that land measuring about 11.44 acres being Khaitan No.1267, 6, 70, 194/1, 815, 819, 516, 26, 24, 605, 623/1, 220, 41, 99, 74, 46, 44, 77, 1192 and 111 situated at Mouza Rakta, P.S. Santuri, District Purulia and Mouza Balitora, P.S. Santuri, District Purulia and Mouza Madhukunda, P.S. Santuri District Purulia. Total area comes to 11.96 acres, out of which 0.52 acres in common in different deeds of Rakta Mouza under Title Deed Nos.I-2558,I-2560,I-2561,I-2562,I-2563,I-2564 and I-2565. Together with all buildings and structures thereon and all plant and machinery attached to the earth or permanently fastened to anything attached to the earth, both present and future. All that land measuring 3.545 acres be the same a little more or less comprised in Dag No.439(0.015 acres) Dag No.440(0.020 acres), Dag No.444(0.130 acres) and Dag No.338(3.380 acres) J.L. No. 10 in Mouza Rakta, P.S. Santuri, District Purulia. All that land measuring 1.46 acres be the same a little more or less comprised in Dag No.1242(0.31 acres), Dag No.1243(0.06 acres), Dag No.1244 (1.09 acres) J.L.No.9 in mouza Madhukunda, P.S. Santuri, District Purulia under Original Lease Deed No.I-2540. Together with all buildings and structures thereon and all plant and machinery earth or permanently fastened to anything both present and future. |
|
Date of
instrument modifying the charge |
03.08.2010 |
|
Particulars of
the present modification |
By this
modification, charge on above mentioned mortgaged properties of the Company
extended to secure the enhanced overall limit of Rs.1383.500 Millions (State
Bank of India -TL Rs.160.000
Millions and WC Rs.267.000 Millions, Punjab National Bank -TL Rs.150.000 Millions and WC Rs.100.000
Millions, Bank of India -TL
Rs.135.000 Millions and WC Rs.106.500 Millions, Oriental Bank of
Commerce -TL Rs.135.000 Millions, Indian
Overseas Bank - TL Rs.120.000
Millions and WC Rs.50.000 Millions, SBH -TL Rs.80.000 Millions and Bank of
Baroda- Rs.80.000 Millions) together with interest, costs and charges
thereon. All other terms
and conditions continue to remain as before in full force and effect. |
FIXED ASSETS
- Land
- Buildings
- Factory Building
- Plant and Equipment
- 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.60.34 |
|
|
1 |
Rs.90.79 |
|
Euro |
1 |
Rs.77.81 |
INFORMATION DETAILS
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
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 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
29 |
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.