|
Report Date : |
27.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
KOSO INDIA PRIVATE LIMITED (w.e.f. 01.11.2010) |
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|
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Formerly Known
As : |
KENT INTROL PRIVATE LIMITED |
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Registered
Office : |
H-33 and 34, MIDC, Ambad, Nashik-422010, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
03.06.2004 |
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Com. Reg. No.: |
11-146735 |
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Capital Investment
/ Paid-up Capital : |
Rs.127.948 Millions |
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|
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CIN No.: [Company Identification
No.] |
U31200MH2004PTC146735 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
NSKK01471B |
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PAN No.: [Permanent Account No.] |
AACCK3621N |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Control Valves. |
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No. of Employees
: |
135 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1710000 |
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|
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|
Status : |
Satisfactory |
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|
|
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having a satisfactory track
record. The financial for the year 2012 is not available. As per the previous year’s, the financial position seems to be good. Trade relations are reported to be fair. Business is active. Payment
are reported to be usually correct and as per commitments. The company can be considered for normal business dealings at usual
trade terms and conditions. Profit and loss of the company is not available. |
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 |
BBB+ [Long Term] |
|
Rating Explanation |
Having moderate degree of safety regarding timely servicing of financial
obligation. It carry moderate credit risk. |
|
Date |
July 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
|
Name : |
Mr. Piyush Shoraria |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-253-2408810 |
|
Date : |
26.07.2013 |
LOCATIONS
|
Registered Office/ Factory : |
H-33 and 34, MIDC, Ambad, Nashik-422010, Maharashtra, India |
|
Tel. No.: |
91-253-2408811 |
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Fax No.: |
91-253-2384413 |
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E-Mail : |
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|
Area : |
8000 sq. ft. |
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Location : |
Owned |
|
|
|
|
Warehouse : |
D-65, Trident Complex, Race Course Circle, Vadodara, Gujarat, India |
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E-Mail : |
|
|
Location : |
Rented |
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|
|
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Marketing Office
: |
IV/946-948, V/28-30, Pudussery Central Village, Industrial Development
Area, Kanjikode (West), Palakkad-678621, Kerala, India |
|
Tel No.: |
91-491-2564222/2564223/2564111 |
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Email: |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Gaurav Vinod Gupta |
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Designation : |
Whole Time Director |
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Address : |
Flat No. 3, |
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Date of Birth/Age : |
12.10.1979 |
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Date of Appointment : |
27.07.2007 |
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DIN No.: |
00012400 |
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Name : |
Takashi Ichiji Ikegaya |
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Designation : |
Director |
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Address : |
3-29-18, Kamikitazawa, Setagaya-Ku, |
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Date of Birth/Age : |
05.01.1930 |
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Date of Appointment : |
28.06.2005 |
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DIN No.: |
00297426 |
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|
|
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Name : |
Yuichi Takashi Ikegaya |
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Designation : |
Director |
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Address : |
4-14-2-3502, Sotokanda, Chiyoda-Ku, |
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Date of Birth/Age : |
31.08.1973 |
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Date of Appointment : |
28.06.2005 |
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DIN No.: |
00296808 |
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|
|
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Name : |
Keiko Takashi Ikegaya |
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Designation : |
Director |
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Address : |
5-4-1-518, Shiba, Minato-Ku, |
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Date of Birth/Age : |
14.12.1964 |
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Date of Appointment : |
28.06.2005 |
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DIN No.: |
00296749 |
KEY EXECUTIVES
|
Name : |
Mr. Piyush Shoraria |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Nihon Koso Company Limited, |
|
12779830 |
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Nihon Koso Company Limited, (Beneficial Holder Takashi Ikegaya), |
|
15000 |
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TOTAL
|
|
12794830 |
AS ON 30.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Control Valves. |
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Exports : |
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Products : |
Control Valves |
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Countries : |
·
UK ·
China |
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Terms : |
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Selling : |
Credit |
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Purchasing : |
Credit / Depend |
GENERAL INFORMATION
|
Customers : |
Retailers and End Users |
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No. of Employees : |
135 [Approximately] |
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Bankers : |
·
Axis Bank Limited, Mazda Towers, Trambak Naka,
Survey No. 620/9, GPO Road, Nashik-422001, Maharashtra, India · Axis Bank Limited, Trishul 3rd Floor Opposite Samartheshwar Temple, Law Garden Ellis Bridge, Ahmedabad - 380006, Gujarat, India · ICICI Bank Limited, A Wing, Shangrila Gardens, Bund Garden Branch, Pune - 411001, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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|
|
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Auditors : |
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|
Name : |
Deloitte Haskin and Sells Chartered Accountant |
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Address : |
12, |
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Tel. No.: |
91-22-66679000 |
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Fax No.: |
91-22-66679100 |
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PAN No: |
AACFD4815A |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
20000000 |
Equity Shares |
Rs.10/- each |
Rs.200.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
12794830 |
Equity Shares |
Rs.10/- each
|
Rs.127.948
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 |
127.948 |
98.537 |
81.870 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
302.010 |
176.541 |
96.040 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
429.958 |
275.078 |
177.910 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
52.460 |
15.151 |
49.908 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
52.460 |
15.151 |
49.908 |
|
|
DEFERRED TAX LIABILITIES |
2.748 |
2.031 |
1.498 |
|
|
|
|
|
|
|
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TOTAL |
485.166 |
292.260 |
229.316 |
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|
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|
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APPLICATION OF FUNDS |
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|
|
|
|
|
|
|
|
|
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FIXED ASSETS [Net Block] |
193.577 |
120.166 |
108.691 |
|
|
Capital work-in-progress |
1.345 |
32.374 |
4.107 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
97.695
|
71.215
|
80.350 |
|
|
Sundry Debtors |
102.412
|
91.491
|
48.998 |
|
|
Cash & Bank Balances |
129.955
|
39.080
|
50.033 |
|
|
Other Current Assets |
0.801
|
0.230
|
0.933 |
|
|
Loans & Advances |
56.873
|
47.882
|
41.864 |
|
Total
Current Assets |
387.736
|
249.898
|
222.178 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
60.689 |
44.516 |
60.943 |
|
|
Other Current Liabilities |
11.485
|
14.182
|
9.426 |
|
|
Provisions |
25.318
|
51.480
|
35.291 |
|
Total
Current Liabilities |
97.492
|
110.178
|
105.660 |
|
|
Net Current Assets |
290.244
|
139.720
|
116.518 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
485.166 |
292.260 |
229.316 |
|
|
Particulars |
|
|
31.03.2013 |
|
Sales Turnover [Approximately] |
|
|
1350.000 |
The above information has been parted by Mr. Piyush Shoraria.
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.35 |
0.46 |
0.87 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.98 |
2.27 |
2.10 |
LOCAL AGENCY FURTHER INFORMATION
Details of 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 |
Yes |
|
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 |
No |
|
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] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth 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 |
INDEX OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10174515 |
21/01/2013 * |
250,000,000.00 |
AXIS BANK
LIMITED |
MAZDA TOWERS,
TRAMBAK NAKA, SURVEY NO. 620/9, GPO |
B67100321 |
|
* Date of charge modification |
||||||
FINANCIAL RESULTS:
This being the sixth year, the company has performed business as per expectations. The company has sound financial position to accommodate and meet its current, contingent liabilities. The paid up capital of the company is Rs. 127.948 Millions.
FIXED ASSETS:
·
Leasehold Land
·
Building
·
Plant and Machinery
·
Dies and Moulds
·
Office Equipments
·
Data Processing Equipments
·
Furniture and Fixtures
·
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 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.58.91 |
|
|
1 |
Rs.90.67 |
|
Euro |
1 |
Rs.78.22 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
43 |
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.