|
Report Date : |
25.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
VIGEL MANUFACTURING TECHNOLOGIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
1408, Maker Chambers V, Nariman Point, Mumbai – 400021, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
18.07.2005 |
|
|
|
|
Com. Reg. No.: |
11-154859 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.27.629 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U30007MH2005PTC154859 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of CNC and Automobile Machines. |
|
|
|
|
No. of Employees
: |
70 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. The financial statements after 2010 are not available with us. As per
the previous of 2010, there appear accumulated losses of past some years.
External borrowings appear to be huge. Liquidity position seems to be weak. However, trade relations are fair. Business is active. Payments terms
are unknown. The company can be considered for business dealings on a safe and
secured 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 |
CRISIL |
|
Rating |
Long Term Rating: B- |
|
Rating Explanation |
High risk of default. |
|
Date |
13.08.2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating: A4 |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
13.08.2012 |
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.
INFORMATION PARTED BY (General Details)
|
Name : |
Mr. Prashant |
|
Designation : |
Accountant |
|
Contact No.: |
91-2138-679413 |
|
Date : |
23.07.2013 |
LOCATIONS
|
Registered Office : |
1408, Maker Chambers V, Nariman Point, Mumbai – 400021, |
|
Tel. No.: |
91-22-22854669/ 65536493 |
|
Mobile No.: |
91-9820069019 (Mr. Abhay Jitendra Mehrotra) |
|
Fax No.: |
91-22-22853427 |
|
E-Mail : |
|
|
|
|
|
Factory : |
Plot No.6-7, MIDC Rajangaon Taluka Shirur, Pune – 412210, Maharashtra,
India |
|
Tel. No.: |
91-2138-679410/ 679412-13 |
DIRECTORS
(AS ON 29.09.2012)
|
Name : |
Mr. Abhay Jitendra Mehrotra |
|
Designation : |
Whole Time Director |
|
Address : |
11, Podar House, Marine Drive, Mumbai - 400020, Maharashtra, India |
|
Date of Appointment : |
18.07.2005 |
|
DIN No.: |
01673801 |
|
|
|
|
Name : |
Mr. Alberto Pesce |
|
Designation : |
Director |
|
Address : |
1086, Rivarolo, Canvese (TO), Corso Torino N. 163, |
|
Date of Appointment : |
11.08.2005 |
|
DIN No.: |
03488039 |
|
|
|
|
Name : |
Mr. Luigino Parisotto |
|
Designation : |
Director |
|
Address : |
10098, Rivoli (OT), Starada, Scaravaglio, N.68/11, Italy |
|
Date of Appointment : |
11.08.2005 |
|
DIN No.: |
03487964 |
|
|
|
|
Name : |
Ms. Ettorina Geninat |
|
Designation : |
Director |
|
Address : |
1086, Rivarolo, Canvese (TO), Corso Torino N. 163, |
|
Date of Appointment : |
11.08.2005 |
|
DIN No.: |
03575014 |
|
|
|
|
Name : |
Ms. Bina Abhay Mehrotra |
|
Designation : |
Additional Director |
|
Address : |
11, Podar House, |
|
Date of Birth/Age : |
06.08.1961 |
|
Date of Appointment : |
18.03.2010 |
|
DIN No.: |
01673833 |
KEY EXECUTIVES
|
Name : |
Mr. Prashant |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 29.09.2012)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Abhay Jitendra Mehrotra |
|
217 |
|
Bonmij Beleggingen BV, Netherlands |
|
2268 |
|
Bina Abhay Mehrotra |
|
80 |
|
Anjai Investments Private Limited, India |
|
185 |
|
Sushma J. Mehrotra |
|
12 |
|
|
|
|
|
Total |
|
2762 |
(AS ON 30.09.2012)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
82.11 |
|
Bodies corporate |
|
6.69 |
|
Directors or relatives of directors |
|
11.20 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of CNC and Automobile Machines. |
|
|
|
|
Exports : |
|
|
Products : |
CNC and Automobile Machines |
|
Countries : |
· Italy · China · Oman |
|
|
|
|
Imports : |
|
|
Products : |
Raw Materials |
|
Countries : |
Italy |
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Cash and Credit (30 days) |
|
|
|
|
Purchasing : |
L/C, Cash and Credit (30 days) |
GENERAL INFORMATION
|
Customers : |
OEM’s and Manufacturer |
||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
70 (Approximately) |
||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
· Union Bank of India Khand Bazar Branch, 109, Kazi Sayed Street, Khand Bazar, Mumbai –
400003, Maharashtra, India · European Central Bank |
||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Mehata Chokshi and Shah Chartered Accountant |
|
Address : |
Bokadia Mension, 2nd Floor, 229, |
|
Tel No.: |
91-22-22057309/ 22088743/ 66334067 |
|
Fax No.: |
91-22-22055432 |
|
PAN No.: |
AAAFM5817F |
|
Email : |
|
|
|
|
|
Holding Company : |
Bonmij Beleggingen BV, Netherlands |
CAPITAL STRUCTURE
(AS ON 29.09.2012)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000 |
Equity Shares |
Rs.10000/ each |
Rs.30.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2762 |
Equity Shares |
Rs.10000/
each |
Rs.27.620
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
27.620 |
27.620 |
27.620 |
|
|
2] Share Application Money |
0.009 |
0.009 |
0.009 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(56.673) |
(67.097) |
(25.013) |
|
|
NETWORTH |
(29.044) |
(39.468) |
2.616 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
12.696 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
90.825 |
101.085 |
95.075 |
|
|
TOTAL BORROWING |
103.521 |
101.085 |
95.075 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
Foreign Currency Transaction Difference |
3.060 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
77.537 |
61.617 |
97.691 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
102.184 |
107.567 |
99.791 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.560 |
|
|
Foreign Currency Transaction Difference |
0.000 |
4.140 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
65.049
|
48.269 |
45.411 |
|
|
Sundry Debtors |
39.517
|
70.942 |
1.055 |
|
|
Cash & Bank Balances |
9.146
|
0.884 |
13.041 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
35.318
|
25.349 |
22.462 |
|
Total
Current Assets |
149.030
|
145.444 |
81.969 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
155.498
|
175.948 |
57.855 |
|
|
Other Current Liabilities |
16.174
|
18.331 |
26.293 |
|
|
Provisions |
2.005
|
1.255 |
0.481 |
|
Total
Current Liabilities |
173.677
|
195.534 |
84.629 |
|
|
Net Current Assets |
(24.647)
|
(50.090) |
(2.660) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
77.537 |
61.617 |
97.691 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales and Operating Income |
151.649 |
171.205 |
19.327 |
|
|
|
Other Income |
20.750 |
1.255 |
1.855 |
|
|
|
TOTAL (A) |
172.399 |
172.460 |
21.182 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption of Raw Materials and Components |
94.969 |
143.463 |
15.561 |
|
|
|
Other Manufacturing Expenses |
5.816 |
16.764 |
0.000 |
|
|
|
Personal Expenses |
23.406 |
22.088 |
11.582 |
|
|
|
Administrative and Other Expenses |
17.825 |
21.116 |
13.164 |
|
|
|
Selling and Distribution Expenses |
7.015 |
4.122 |
0.000 |
|
|
|
Prior Period Expenses |
0.638 |
0.000 |
0.000 |
|
|
|
TOTAL
(B) |
149.669 |
207.553 |
40.307 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
22.730 |
(35.093) |
(19.125) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
5.788 |
1.108 |
1.612 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND
AMORTISATION (C-D) (E) |
16.942 |
(36.201) |
(20.737) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
5.767 |
5.109 |
1.805 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
11.175 |
(41.310) |
(22.542) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.750 |
0.774 |
0.310 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
10.425 |
(42.084) |
(22.852) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(67.097) |
(25.013) |
(2.161) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(56.672) |
(67.097) |
(25.013) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Export Sales |
101.636 |
51.369 |
2.090 |
|
|
TOTAL EARNINGS |
101.636 |
51.369 |
2.090 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
71.321 |
90.567 |
40.298 |
|
|
|
Capital Goods |
0.000 |
0.000 |
4.293 |
|
|
TOTAL IMPORTS |
71.321 |
90.567 |
44.591 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3774.28 |
(15236.90) |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
6.05
|
(24.40) |
(107.88) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
7.37
|
(24.13) |
(116.63) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.45
|
(16.33) |
(12.40) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.38)
|
1.05 |
(8.62) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
(3.56)
|
(2.56) |
36.34 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.86
|
0.74 |
0.97 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITY
OF LONG TERM BORROWINGS DETAIL: 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 |
Yes |
|
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) |
Yes |
|
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 |
-------------------------------------------------------------------------------------------------------------------------------------------------------
WORKING RESULTS:
This was the second full year of operation of the company.
During the year all the operations of the company was streamlined and working
systems were put in place.
During the financial year ending 31st March 2010,
emphasis was laid on cost reduction through greater indigenization as also
value engineering of the products to enhance competitiveness.
The above yielded good benefits to the Company which is
reflected in the better financial performance of the Organization as compared
to the previous year.
The company during the above period sold a total of six
machines; these included the export of four machines to China.
-------------------------------------------------------------------------------------------------------------------------------------------------------
CONTINGENT LIABILITIES NOT PROVIDED FOR: (AS ON 31.03.2010)
· Outstanding Bank Guarantee of Union Bank of India of Rs.11.543 Millions (Previous year Rs.1.575 Millions)
· Estimated amount of contacts remaining to be executed on capital account and not provided for (Net of Advances) Rs. Nil (Previous year Rs. Nil)
· Rs. Nil is given as an advance to suppliers for capital goods shown in advances (Previous year Rs. Nil)
-------------------------------------------------------------------------------------------------------------------------------------------------------
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
ADDRESS |
Service Request
Number (SRN) |
|
1 |
10146575 |
09/03/2009 |
5,000,000.00 |
UNION BANK OF
INDIA |
KHAND BAZAR
BRANCH, 109, KAZI SYED STREET, KHAND |
A58393141 |
|
2 |
10146574 |
09/03/2009 |
35,000,000.00 |
UNION BANK OF
INDIA |
KHAND BAZAR BRANCH,
109, KAZI SYED STREET, KHAND |
A58393109 |
|
3 |
10082012 |
09/03/2009 * |
10,000,000.00 |
UNION BANK OF
INDIA |
KHAND BAZAR
BRANCH, 109, KAZI SYED STREET, KHAND |
A58393042 |
|
4 |
10081661 |
25/02/2009 * |
50,000,000.00 |
UNION BANK OF
INDIA |
KHAND BAZAR
BRANCH, 109, KAZI SYED STREET, KHAND |
A58393026 |
|
5 |
10081660 |
20/12/2007 |
11,000,000.00 |
UNION BANK OF
INDIA |
KHAND BAZAR
BRANCH, 109, KAZI SYED STREET, KHAND |
A29742814 |
-------------------------------------------------------------------------------------------------------------------------------------------------------
FIXED ASSETS:
· Lease Hold land
· Building
· Garden
· Furniture and Fittings
· Factory Equipments
· Computer
· Plant and Machinery
· Office Equipment
· Electrical Installation
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 records 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.59.69 |
|
|
1 |
Rs.91.66 |
|
Euro |
1 |
Rs.78.69 |
INFORMATION DETAILS
|
Information Gathered
by : |
JML |
|
|
|
|
Report Prepared
by : |
NIT |
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 |
3 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
28 |
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.