MIRA
INFORM REPORT
|
Report Date : |
22.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
AIRO LAM LIMITED |
|
|
|
|
Registered
Office : |
Survey No. 355, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
22.10.2007 |
|
|
|
|
Com. Reg. No.: |
04-052019 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.55.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U20211GJ2007PLC052019 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMA07515E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAGCA6219G |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of High Pressure Decorative Laminates. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (36) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 360000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The
company is progressing well. Trade relations are reported as fair. Business
is active. Payments are reported to be slow but correct. 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 – 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 |
ICRA |
|
Rating |
Term Loan = B+ |
|
Rating Explanation |
Having high risk of default regarding timely serving of financial obligation
|
|
Date |
December 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 : |
Survey No. 355, |
|
Tel. No.: |
91-2770-240572 / 73 |
|
Fax No.: |
91-2770-240574 |
|
E-Mail : |
|
|
Website : |
|
|
Location: |
Owned |
|
|
|
|
Factory: |
Dalpur Village, Nananpur Approach Road, Taluka Pranjij District S,K Gujarat
-383120, India |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Kamleshbhai Jethabhai Patel |
|
Designation : |
Whole Time Director |
|
Address : |
At Laxmanpura, Po Goral, Taluka – Idar, Sabarkantha – 383410, Gujarat, India |
|
Date of Birth/Age : |
01.07.1974 |
|
Date of Appointment : |
22.10.2007 |
|
DIN No. : |
01840272 |
|
PAN No.: |
AHBPP9529P |
|
|
|
|
Name : |
Mr. Prafulkumar Devchandbhai Patel |
|
Designation : |
Director |
|
Address : |
2, Yogi Parivar Bunglows, Mahakali Mandir Road, Mahavirnagar, Himatnagar, Sabarkantha – 383001, Gujarat, India |
|
Date of Birth/Age : |
15.10.1965 |
|
Date of Appointment : |
22.10.2007 |
|
DIN No. : |
00256551 |
|
PAN No.: |
AFSPP7451F |
|
|
|
|
Name : |
Mr. Pravinkumar Nathabhai Patel |
|
Designation : |
Managing Director |
|
Address : |
At Suryanagar Kampa, Idar, Sabarkantha – 383450, Gujarat, India |
|
Date of Birth/Age : |
01.06.1969 |
|
Date of Appointment : |
01.08.2009 |
|
DIN No. : |
01840244 |
|
PAN No.: |
AATPP8059M |
|
|
|
|
Name : |
Mr. Bharatbhai Dolabhai Patel |
|
Designation : |
Whole Time Director |
|
Address : |
At Lamanpura, Po. Goral Ta Idar, Sabarkantha – 383410, Gujarat, India |
|
Date of Birth/Age : |
01.06.1972 |
|
Date of Appointment : |
22.10.2007 |
|
DIN No. : |
01840296 |
|
PAN No.: |
AHBPP9531H |
|
|
|
|
Name : |
Mr. Jashubhai Amichandbhai Patel |
|
Designation : |
Director |
|
Address : |
5, Yogi Parivar Kanknol Road, Mahavirnagar, Himatnagar, Sabarkantha – 383001, Gujarat, India |
|
Date of Birth/Age : |
13.12.1977 |
|
Date of Appointment : |
22.10.2007 |
|
DIN No. : |
00256318 |
|
PAN No.: |
AGEPP2186L |
|
|
|
|
Name : |
Mr. Pravinbhai Amichandbhai Patel |
|
Designation : |
Additional Director |
|
Address : |
6, Yogi Parivar Kanknol Road, Mahavirnagar, Himatnagar, Sabarkantha – 383001, Gujarat, India |
|
Date of Birth/Age : |
16.12.1980 |
|
Date of Appointment : |
01.06.2008 |
|
DIN No. : |
00256357 |
|
|
|
|
Name : |
Mr. Utkarshakumar Revabhai Patel |
|
Designation : |
Whole Time Director |
|
Address : |
1, Yogi Parivar, Near Mahakali Temple, Kanknol Road, Mahavirnagar, Himatnagar, Sabarkantha – 383001, Gujarat, India |
|
Date of Birth/Age : |
08.02.1982 |
|
Date of Appointment : |
01.06.2008 |
|
DIN No. : |
02022565 |
|
PAN No.: |
ALQPP3677D |
|
|
|
|
Name : |
Mr. Babu Devjibhai Patel |
|
Designation : |
Whole Time Director |
|
Address : |
At and Po. Nava Revas, Ta- Idar, Sabarkantha – 383430, Gujarat, India |
|
Date of Birth/Age : |
07.08.1974 |
|
Date of Appointment : |
18.06.2008 |
|
DIN No. : |
02223836 |
|
PAN No.: |
AJYPP2401R |
|
|
|
|
Name : |
Mr. Sureshbhai Hansrajbhai Patel |
|
Designation : |
Whole Time Director |
|
Address : |
C/o. Patel Saw Mill, Mehtapura, Himatnagar, Sabarkantha – 383001, Gujarat, India |
|
Date of Birth/Age : |
10.04.1980 |
|
Date of Appointment : |
18.06.2008 |
|
DIN No. : |
02223842 |
|
PAN No.: |
AGPPP6656E |
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 |
|
Directors or relatives of Directors |
68.53 |
|
Other top fifty shareholders |
31.47 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of High Pressure Decorative Laminates. |
||||
|
|
|
||||
|
Products : |
|
PRODUCTION STATUS (As on 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Laminates Sheets |
Sheet |
3000 Sheets Per
day |
827052 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
·
State Bank of India, Industrial Finance Branch,
Gujarat Bhavan, Opposite M. J Library, Ellisbridge, Ahmedabad – 380 006,
Gujarat, India ·
Kotak Mahindra Bank ·
IDBI Bank |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
K. K Patel and Associates Chartered Accountants |
|
Address : |
F-51, 2nd Floor, “Akash Ganga” Complex, Near S T Stand,
Himatnagar – 383 001, |
|
Tel. No.: |
91-2772-240499 |
|
Mobile No.: |
91-9898044121 |
|
E-Mail : |
|
|
PAN No.: |
AGPPP6687D |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6000000 |
Equity Shares |
Rs.10/- each |
Rs.60.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5500000 |
Equity Shares |
Rs.10/- each |
Rs.55.000 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 |
|
55.000 |
55.000 |
|
(b) Reserves & Surplus |
|
37.476 |
29.680 |
|
(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) |
|
92.476 |
84.680 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
166.023 |
154.607 |
|
(b) Deferred tax liabilities (Net) |
|
5.531 |
3.786 |
|
(c) Other long term liabilities |
|
85.059 |
89.652 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
|
256.613 |
248.045 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
15.365 |
32.459 |
|
(b) Trade payables |
|
0.000 |
0.000 |
|
(c) Other current
liabilities |
|
16.756 |
17.170 |
|
(d) Short-term provisions |
|
3.140 |
1.961 |
|
Total Current Liabilities (4) |
|
35.261 |
51.590 |
|
|
|
|
|
|
TOTAL |
|
384.350 |
384.315 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
112.913 |
101.891 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
4.926 |
7.644 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
117.839 |
109.535 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
148.499 |
154.063 |
|
(c) Trade receivables |
|
101.152 |
99.316 |
|
(d) Cash and cash
equivalents |
|
2.300 |
6.082 |
|
(e) Short-term loans and
advances |
|
14.560 |
15.319 |
|
(f) Other current assets |
|
0.000 |
0.000 |
|
Total Current Assets |
|
266.511 |
274.780 |
|
|
|
|
|
|
TOTAL |
|
384.350 |
384.315 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
55.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
25.223 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
80.223 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
172.627 |
|
|
2] Unsecured Loans |
|
|
16.411 |
|
|
TOTAL BORROWING |
|
|
189.038 |
|
|
DEFERRED TAX LIABILITIES |
|
|
2.666 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
271.927 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
101.934 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
120.994
|
|
|
Sundry Debtors |
|
|
89.152
|
|
|
Cash & Bank Balances |
|
|
2.172
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
14.281
|
|
Total
Current Assets |
|
|
226.599 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
|
|
64.745
|
|
|
Other Current Liabilities |
|
|
0.000
|
|
|
Provisions |
|
|
2.996
|
|
Total
Current Liabilities |
|
|
67.741 |
|
|
Net Current Assets |
|
|
158.858 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
11.135 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
271.927 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
497.597 |
480.891 |
367.567 |
|
|
|
Other Income |
1.740 |
1.502 |
1.496 |
|
|
|
TOTAL (A) |
499.337 |
482.393 |
369.063 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
388.540 |
408.791 |
|
|
|
|
Purchases of stock-in-trade |
4.942 |
8.814 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
6.045 |
(33.068) |
327.822 |
|
|
|
Employee benefit expense |
23.093 |
30.630 |
|
|
|
|
Other expenses |
25.086 |
25.281 |
|
|
|
|
TOTAL (B) |
447.706 |
440.448 |
327.822 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
51.631 |
41.945 |
41.241 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
25.570 |
23.886 |
19.524 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
26.061 |
18.059 |
21.717 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
13.421 |
11.256 |
13.032 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
12.639 |
6.803 |
8.685 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
4.844 |
2.346 |
4.066 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
7.795 |
4.457 |
4.619 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.42 |
0.81 |
0.84 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.56
|
0.92 |
1.25 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.54
|
1.41 |
2.36 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.29
|
1.77 |
2.64
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.14
|
0.08 |
0.11
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
3.59
|
3.65 |
3.20
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
7.56
|
5.33 |
3.35
|
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 |
No |
|
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 |
No |
|
34] |
External Agency Rating, if available |
Yes |
OPERATION
During the financial year the Company has achieved turnover of Rs. 499.337 Millions as against Rs. 442.813 Millions during the previous year. During the year the Company has earned Net Profit of Rs. 7.795 Millions as against Rs. 4.457 Millions during the previous year. Barring unforeseen circumstances, the Directors are hopeful to get better performance in the current year.
UNSECURED LOAN
Rs. In Millions
|
Particular |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
Long-term
borrowings |
|
|
|
Loans and advances from directors |
4.725 |
2.144 |
|
Loans and advances from others |
40.265 |
26.234 |
|
Total |
44.990 |
28.378 |
FIXED ASSETS
· Factory Building
· Plant and machinery
· Office Building
· Labour quarter
· Laboratory
· Computer
· Furniture and Fixture
· Vehicle
· Office Equipments
· Land
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.59.80 |
|
|
1 |
Rs.91.03 |
|
Euro |
1 |
Rs.78.52 |
INFORMATION DETAILS
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
36 |
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.