MIRA
INFORM REPORT
|
Report Date : |
25.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
THE FREYSSINET PRE-STRESSED CONCRETE COMPANY LIMITED |
|
|
|
|
Registered
Office : |
6/B, 6th Floor,
Sterling Centre, Dr. Annie Besant Road, Worli, Mumbai – 400025, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
24.11.1954 |
|
|
|
|
Com. Reg. No.: |
11-009421 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 13.450
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999MH1954PLC009421 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACT2145C |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Building and Road Construction Activity. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1090000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an old and established company having a satisfactory track
record. The latest financial as on 2012 are not available with us. As per available financial of 2011, the company has seen a marginal
growth in its sales turnover as well as net profitability. Financial position
appears to be decent. Trade relations are fair. Business is active. Payment terms are
usually correct. In view of strong promoters, proven track record in execution of
orders and liquidity support from Gammon India Limited, the subject can be
considered normal for business dealings at usual trade terms and
conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank facilities : BBB |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
January 18, 2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities : A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
January 18, 2013 |
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 DECLINED
MANAGEMENT NON-COOPERATIVE [91-22-43229500]
LOCATIONS
|
Registered/ Corporate Office : |
6/B, 6th Floor,
Sterling Centre, Dr. Annie Besant Road, Worli, Mumbai – 400025, Maharashtra, India |
|
Tel. No.: |
91-22-43229500 [48 Lines]/ 24921129/ 1141/ 66611165 |
|
Fax No.: |
91-22-24938461/ 66611164 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
Plot No.114, Near Shakti Industries, Navghar Vasai (East),
District Thane – 401210, Maharashtra, India |
|
Tel. No.: |
91-250-2393802 |
|
Fax No.: |
91-250-2393803 |
|
E-Mail : |
|
|
|
|
|
Branch Office : |
Located at v Kolkata v Pune v Delhi v Chennai |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Sanjay Harbanslal Kapoor |
|
Designation : |
Managing Director |
|
Address : |
1A, Rituraj, 1st Floor, Military Road, Opposite Mittal Park, Juhu,
Mumbai – 400049, Maharashtra, India |
|
Date of Birth/Age : |
27.03.1959 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
31.01.2001 |
|
DIN No.: |
00092676 |
|
|
|
|
Name : |
Mr. Vijay Madhusudan Dharap |
|
Designation : |
Director |
|
Address : |
A8, Anand Chaya P Balu Marg, Prabhadevi, Mumbai – 400025, Maharashtra,
India |
|
Date of Birth/Age : |
13.10.1937 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
12.09.1983 |
|
DIN No.: |
00045981 |
|
|
|
|
Name : |
Mr. Padmakar Yashwant Manjure |
|
Designation : |
Whole-time director |
|
Address : |
3B, 40 Jayvijay Housing Society, Western Express Highway, Sahar, Vile Parle
(East), Mumbai – 400099, Maharashtra, India |
|
Date of Birth/Age : |
18.08.1940 |
|
Qualification : |
B E (CIVIL) |
|
Date of Appointment : |
01.09.2004 |
|
DIN No.: |
01569356 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
T. S. Beyells and Thrasyvoulos |
|
230 |
|
Capital Services Private Limited, India |
|
602548 |
|
Kapur Raj Baldev
and Kapur D. N. |
|
9 |
|
Leyland Bretton
Robert and Leyland John |
|
15 |
|
Bates
James and Bates William |
|
386 |
|
Dabke
S Chandrakant and Dabke Shankar Balajt |
|
12 |
|
Pillal K
Bhaskaran and Pillai K. |
|
10 |
|
Bandodkar
S Suryakant and Bandodkar Shamrao |
|
7 |
|
Chemburker
B Prabhakar and Chemburker Baburao B. |
|
22 |
|
Dabke S
Mukund and Dabke Shankar Balaji |
|
58 |
|
Banerjee N. R.
and Banerjee Kangendra Nath |
|
9 |
|
Subbarao
N. T. and Narayana Rao T. S. |
|
668 |
|
Pinge
Sagun and Late Pinge Sagun |
|
286 |
|
Hilloo
Dara Freny and Hilloo D. F. |
|
6 |
|
Jones
Glyn Ira and Jones Gtyn |
|
474 |
|
Ashok
Kumar and Lall S. N. |
|
20 |
|
Dharap
M. V. and Dharap M. |
|
10 |
|
Daruwalla
J. K. and Daruwalla Jal |
|
10 |
|
Modi V. |
|
10 |
|
Manjure
Y. P. and Manjure Yeshwant |
|
10 |
|
Joshi. G.
R. and Joshi Gurunath |
|
5 |
|
Gammon
Peter and Late Gammon J. C. |
|
324 |
|
Pasricha
Uday |
|
2844 |
|
Pragmatic
Traders Private Limited, India |
|
605823 |
|
Amidtown
Insurance Services Private Limited, India |
|
131204 |
|
|
|
|
|
Total |
|
1345000 |
AS ON 29.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
99.60 |
|
Other
top fifty shareholders |
|
0.40 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Building and Road Construction Activity. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
|||||||||||||||||||||
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|
|
|||||||||||||||||||||
|
Bankers : |
v Punjab National Bank, Ajay Amar CHSL, 25 Peddar Road, Mumbai - 400026, Maharashtra, India v Dena Bank, Peddar Road, Mumbai, Maharashtra, India v ING Vysya Bank Limited, IFB AB Road Worli,
Mumbai - 400018, Maharashtra, India v United Commercial Bank, DN Road, Mumbai, Maharashtra, India v The ING Vyasa Bank Limited, Poonam Chambars, AB Road, Mumbai - 400018, Maharashtra, India v ING Vysya Bank Limited, IND Finance Branch, Worli, Mumbai, Maharashtra, India v IDBI
Bank Limited, IDBI Tower WTC Complex, Cuffe Parade, Mumbai - 400005,
Maharashtra, India |
|||||||||||||||||||||
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|
|||||||||||||||||||||
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Facilities : |
|
|||||||||||||||||||||
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|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Dayal and Lohia Chartered Accountants |
|
Address : |
Kamanwala Chambers, 1st Floor, Office No 6 and 7, Sir P M
Road, Fort, Mumbai – 400001, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFD1548C |
|
|
|
|
Subsidiary Company : |
Freyssinet (India) Private Limited [U45102MH1995PTC086429] |
|
|
|
|
Associate Company : |
Equipment Management Company (India) Limited [U45200MH1995PLC091281] |
|
|
|
|
Joint Venture
Partner : |
v Tantia-Freyssinet-Gilcon v FPCC
Raj Engineers |
|
|
|
|
Entity where
control exists : |
Pragmatic Traders Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,345,000 |
Equity Shares |
Rs. 10/- each |
Rs. 13.450
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 |
13.450 |
13.450 |
12.138 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
259.655 |
225.190 |
184.145 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
273.105 |
238.640 |
196.283 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
203.727 |
256.030 |
327.290 |
|
|
2] Unsecured Loans |
345.000 |
225.000 |
130.000 |
|
|
TOTAL BORROWING |
548.727 |
481.030 |
457.290 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
821.832 |
719.670 |
653.573 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
94.373 |
84.593 |
94.665 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
3.371 |
|
|
|
|
|
|
|
|
INVESTMENT |
51.369 |
52.076 |
52.026 |
|
|
DEFERRED TAX ASSETS |
8.025 |
9.113 |
6.907 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
735.578
|
581.577 |
660.967 |
|
|
Sundry Debtors |
280.913
|
438.108 |
485.442 |
|
|
Cash & Bank Balances |
33.410
|
51.020 |
18.516 |
|
|
Other Current Assets |
11.046
|
10.577 |
0.000 |
|
|
Loans & Advances |
262.798
|
234.282 |
159.055 |
|
Total
Current Assets |
1323.745
|
1315.564 |
1323.980 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
389.219
|
416.647 |
466.219 |
|
|
Other Current Liabilities |
250.703
|
311.289 |
349.260 |
|
|
Provisions |
15.758
|
13.740 |
11.897 |
|
Total
Current Liabilities |
655.680
|
741.676 |
827.376 |
|
|
Net Current Assets |
668.065
|
573.888 |
496.605 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
821.832 |
719.670 |
653.573 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
|
|
|
|
|
Work Certified and Sales |
|
1103.315 |
1061.261 |
|
|
|
Other operating Income |
|
0.154 |
0.345 |
|
|
|
Share of Profit from Joint Venture |
|
0.814 |
1.883 |
|
|
|
Other Income |
|
4.719 |
1.164 |
|
|
|
TOTAL (A) |
1179.836 |
1109.002 |
1064.653 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
937.711 |
895.549 |
|
|
|
Establishment Expenses |
|
40.933 |
45.843 |
|
|
|
Loss on sale of assets |
|
0.063 |
0.000 |
|
|
|
Bad debts written off |
|
3.491 |
0.000 |
|
|
|
TOTAL (B) |
1143.096 |
982.198 |
941.392 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
[Including Financial
and Depreciation Expenses] |
126.804 |
123.261 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
73.134 |
76.648 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
53.670 |
46.613 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
21.139 |
21.175 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
36.740 |
32.531 |
25.438 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.334 |
11.272 |
10.336 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
35.406 |
21.259 |
15.102 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
169.803 |
151.614 |
138.875 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
3.550 |
2.126 |
1.511 |
|
|
|
Proposed Dividend |
0.807 |
0.807 |
0.728 |
|
|
|
Tax on Dividend |
0.134 |
0.137 |
0.124 |
|
|
BALANCE CARRIED
TO THE B/S |
200.718 |
169.803 |
151.614 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Sales |
0.000 |
0.000 |
0.384 |
|
|
|
|
|
|
|
|
|
CIF VALUE OF
IMPORTS |
NA |
0.822 |
7.682 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
26.32 |
15.94 |
12.44 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
3.00
|
1.92 |
1.42 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
2.95 |
2.40 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.59
|
2.32 |
1.79 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.13
|
0.14 |
0.13 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.01
|
2.02 |
2.33 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.02
|
1.77 |
1.60 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT : NOT AVAILABLE
|
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 |
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 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10380210 |
27.09.2012 |
145,000,000.00 |
Punjab National Bank |
Ajay Amar CHSL, 25 Peddar Road, Mumbai - 400026, Maharashtra, India |
B59551036 |
|
2 |
10263826 |
29.11.2010 |
100,000,000.00 |
Sicom Limited |
Nirmal Building, 1st Floor, Nariman Point, Mumbai - 400021, Maharashtra, India |
B01306315 |
|
3 |
10043895 |
15.03.2007 |
20,000,000.00 |
Punjab National Bank |
7, Bhikaiji Cama Place, New Delhi - 110006, India |
A13074893 |
|
4 |
10023213 |
27.09.2012 * |
360,000,000.00 |
Punjab National Bank |
Ajay Amar CHSL, 25 Peddar Road, Mumbai - 400026, Maharashtra, India |
B59549972 |
|
5 |
90241639 |
11.11.2005 |
50,000,000.00 |
Centurion Bank Limited |
Khadye Marg, Mahalaxmi, Mumbai, Maharashtra, India |
- |
|
6 |
90231109 |
22.11.2006 * |
140,000,000.00 |
Centurion Bank of Punjab Limited |
Durga Niwasm G Road, Panaji - 403001, Goa, India |
- |
|
7 |
90230580 |
29.03.1989 |
300,000.00 |
Punjab National Bank |
Shira Namf, AB Road Worli Naka, Mumbai, Maharashtra, India |
- |
* Date of charge modification
UNSECURED LOANS
|
Unsecured Loans |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
|
|
Other debt unsecured |
345.000 |
225.000 |
|
Total |
345.000 |
225.000 |
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2011 |
31.03.2010 |
|
|
(Rs. in Millions) |
|
|
Counter guarantees in respect of Bank |
95.312 |
122.086 |
|
The Company gives Quality Assurance guarantee/warranties
on certain contracts executed. The future liability, which may arise on account
of such guarantees / warranties, cannot be ascertained and hence have not
been quantified. |
-- |
-- |
FIXED ASSETS:
v Land
v Building
v Plant and machinery
v Office equipments
v Computer equipments
v Other equipments
v Furniture and fixtures
v Vehicles
v Leasehold properties
v Computer software
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. 59.45 |
|
|
1 |
Rs. 91.24 |
|
Euro |
1 |
Rs. 78.44 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
49 |
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.