MIRA INFORM REPORT
|
Report Date : |
12.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
ITCO INDUSTRIES LIMITED |
|
|
|
|
Registered
Office : |
No.321, Raheja Arcade Koramangala, Bangalore - 560095, Karnataka |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
30.08.1995 |
|
|
|
|
Com. Reg. No.: |
08-018672 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.13.400
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U85110KA1995PLC018672 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, importers, exporters and traders in all kinds of commodities, goods and services and merchandise. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 180000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of the ITCO Group. It is an established company
having a satisfactory track record. There appears a tremendous increase in the sales turnover during 2012.
Financially the company is stable. Trade relations are fair. Business is active. Payments are reported to
be usually correct. The company 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.
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 |
RBI DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ 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 : |
No.321, Raheja Arcade Koramangala, Bangalore 560095, Karnataka, India |
|
Tel. No.: |
91-80-41216119 / 25539459 |
|
Fax No.: |
91-80-25539460 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
66-C, Sipcot Industrial Complex, Phase I, Hosur 635126, Karnataka, India |
|
Tel. No.: |
91-4344-277642 / 277133 |
|
Fax No.: |
91-4344-400261 |
DIRECTORS
As on: 29.09.2012
|
Name : |
Mr. Santosh Kumar Bagaria |
|
Designation : |
Director |
|
Address : |
C-201 Gem Regency, Nirgunala Ist Block,
Bangalore - 560047, Karnataka, India |
|
Date of Birth/Age : |
30.01.1950 |
|
Date of Appointment : |
30.08.1995 |
|
DIN No.: |
01209297 |
|
|
|
|
Name : |
Mr. Anand Krishna Bagaria |
|
Designation : |
Director |
|
Address : |
No.293, 14A, C Ross 17th Main HSR Layout, Bangalore –
560034, Karnataka, India |
|
Date of Birth/Age : |
02.12.1966 |
|
Date of Appointment : |
30.08.1995 |
|
PAN No.: |
00408976 |
|
|
|
|
Name : |
Mr. Sandeep Krishna Bagaria |
|
Designation : |
Director |
|
Address : |
218th Bed Extension, 6th Main, Bangalore -
560034, Karnataka, India |
|
Date of Birth/Age : |
02.07.1971 |
|
Date of Appointment : |
30.08.1995 |
|
DIN No.: |
00264327 |
MAJOR SHAREHOLDERS
As on: 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Santosh Kumar Bagaria |
|
353840 |
|
Anand Krishna Bagaria |
|
197510 |
|
Sandeep Krishna Bagaria |
|
152510 |
|
Raghunandan Bagaria |
|
247520 |
|
Veena Devi Bagaria |
|
58110 |
|
Ganga Devi Bagaria |
|
10010 |
|
Chandra Krishna Bagaria |
|
42000 |
|
ITCO Chem India Private Limited, |
|
158500 |
|
Sunita Bagaria |
|
5000 |
|
Shweta Bagaria |
|
5000 |
|
A K Bagaria (HUF) |
|
55000 |
|
S K Bagaria (HUF) |
|
55000 |
|
Total
|
|
1340000 |
Equity Share Break up (Percentage of Total Equity)
As on: 29.09.2012
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, importers, exporters and traders in all kinds of commodities, goods and services and merchandise. |
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 K Tantry and Company Chartered Accountants |
|
Address : |
No. 379, 3rd Main 7th Cross, CKA Layout, BSK III
Stage, |
|
PAN No.: |
AAAFR8816P |
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1500000 |
Equity Shares |
Rs.10/- each |
Rs.15.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1340000 |
Equity Shares |
Rs.10/- each |
Rs.13.400
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 |
|
13.400 |
13.400 |
|
(b) Reserves & Surplus |
|
32.686 |
28.753 |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
|
|
|
|
|
(3) Non-current liabilities |
|
|
|
|
(a) long-term borrowings |
|
3.717 |
2.590 |
|
(b) Deferred tax liabilities (Net) |
|
1.184 |
1.440 |
|
(c) Other long term liabilities |
|
7.363 |
8.626 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
|
|
|
|
|
(4) Current liabilities |
|
|
|
|
(a) Short term borrowings |
|
23.788 |
16.198 |
|
(b) Trade payables |
|
34.374 |
8.973 |
|
(c) Other current liabilities |
|
4.032 |
2.190 |
|
(d) Short-term provisions |
|
0.790 |
3.703 |
|
TOTAL |
|
121.334 |
85.873 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
18.923 |
18.837 |
|
(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 |
|
0.005 |
0.005 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.136 |
0.129 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
26.566 |
28.698 |
|
(c) Trade receivables |
|
43.614 |
16.024 |
|
(d) Cash and cash equivalents |
|
4.597 |
1.360 |
|
(e) Short-term loans and advances |
|
27.437 |
20.786 |
|
(f) Other current assets |
|
0.056 |
0.034 |
|
TOTAL |
|
121.334 |
85.873 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
13.400 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
24.268 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
37.668 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
11.000 |
|
|
2] Unsecured Loans |
|
|
12.451 |
|
|
TOTAL BORROWING |
|
|
23.451 |
|
|
DEFERRED TAX LIABILITIES |
|
|
1.328 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
62.447 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
14.232 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.005 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
25.086
|
|
|
Sundry Debtors |
|
|
29.463
|
|
|
Cash & Bank Balances |
|
|
2.730
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
15.520
|
|
Total
Current Assets |
|
|
72.799 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
20.205 |
|
|
Other Current Liabilities |
|
|
1.218 |
|
|
Provisions |
|
|
3.166 |
|
Total
Current Liabilities |
|
|
24.589 |
|
|
Net Current Assets |
|
|
48.210 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
62.447 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operation |
326.275 |
204.691 |
228.564 |
|
|
|
Other Income |
2.500 |
1.006 |
1.670 |
|
|
|
TOTAL (A) |
328.775 |
205.697 |
230.234 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Material Consumed |
260.014 |
|
213.141 |
|
|
|
Changes In Inventories of Finished Goods Work-In-Progress And Stock -In-Trade |
5.752 |
(6.250) |
|
|
|
|
Employee Benefits Expenses |
5.636 |
4.825 |
|
|
|
|
Other Expenses |
46.482 |
36.748 |
|
|
|
|
TOTAL (B) |
317.884 |
194.023 |
213.141 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
10.891 |
11.674 |
17.093 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
2.814 |
2.573 |
0.317 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
8.077 |
9.101 |
16.776 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2.547 |
2.559 |
2.056 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
5.530 |
6.542 |
14.720 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.596 |
2.057 |
5.086 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
3.934 |
4.485 |
9.634 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
27.118 |
22.633 |
12.998 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
31.052 |
27.118 |
22.633 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of Goods |
207.672 |
102.056 |
110.281 |
|
|
TOTAL EARNINGS |
207.672 |
102.056 |
110.281 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
76.410 |
|
NA |
|
|
|
Components and Spares Parts |
0.557 |
0.557 |
|
|
|
TOTAL IMPORTS |
76.967 |
42.705 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
29.36 |
33.47 |
7.19 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.20
|
2.18 |
4.18 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.69
|
3.20 |
6.44 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.56
|
7.62 |
16.91 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.12
|
0.16 |
0.39 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.60
|
0.74 |
0.62 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.62
|
2.15 |
2.96 |
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 |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
OPERATIONS AND FUTURE
PLANS:-
The gross sales achieved during last year 2011-12 is Rs.338.611 Millions which represents an increase of 57.30 % as compared to the previous year 2010-11 (Rs.215.263 Millions).
While the export sales has shown tremendous progress and increased by more then 100% as compared to previous year, domestic sales increased by only 15 %. Lower Growth in domestic sales was mainly due to delay in grant of 2G and 3G telecom licences by the government which affected new network rollout by the telecom operators and hence also the demand for your company's products. However, implementation of some new planned projects in India like National Rural Broadband and Defence Dedicated Telecom Network during next 3-5 years may boost the demand for Optical Fiber Cables which in turn will also provide enhanced business opportunities for your company's products.
UNSECURED LOAN:
(Rs.
in Millions)
|
Particulars |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
LONG TERM
BORROWINGS |
|
|
|
LOANS FROM COMPANIES Directors and Shareholders |
2.250 |
2.250 |
|
Total |
2.250 |
2.250 |
CONTINGENT LIABILITIES
AS ON 31.03.2012
Letter of Credit Rs.19.665 Millions
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U85110KA1995PLC018672 |
|
Name of the
company |
ITCO INDUSTRIES
LIMITED |
|
Address of the registered
office or of the principal place of
business in |
No.321, Raheja
Archadekoramangala, Bangalore – 560095, Karnataka, India |
|
This form is for |
Modification of charge |
|
Charge
identification (ID) number of the charge to be modified |
90197262 |
|
Type of charge |
Immovable property |
|
Particular of
charge holder |
Canara Bank, Town
Hall Branch, Stock Exchange Towers, Bangalore - 560027, Karnataka, India |
|
Nature of
instrument creating charge |
Letter Evidencing
Deposit of Title Deeds |
|
Date of
instrument Creating the charge |
29.04.2013 |
|
Amount secured by
the charge |
Rs.65.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest As
Applicable From Bank (OCC/ BD/ BE/
BULC/ PC/ FDB/ FBE-Rs.25.000 Millions/ FLC-Rs.39.500 Millions / BG-Rs.0.500
Million) Terms of Repayment Repayable on
Demand Margin Margin As
Applicable From Bank Extent and Operation of the charge 100% till the
Closure of the loan |
|
Short particulars
of the property or asset(s) charged (including complete address and location of
the property) |
Equitable
Mortgage of Property at Plot No.66 in the SIPCOT Indl. Compex Hosur in
Sy.No.22, 23, 86, 290, 292 and 293 (Part) situated at Mookandapalli and
Zuzuwadi revenue Village Hosur Tq. Dharamapuri. |
|
Particulars of
the present modification |
OCC/ BD/ BE/
BULC/ PC/ FDB/ FBE Limit increased from Rs.20.000 Millions to Rs.25.000
Millions and FLC Limit increased from Rs.36.000 Millions to Rs.39.500
Millions BG-Rs.0.500 Million Continues. Total Limit increased from Rs.56.500
Millions to Rs.65.000 Millions. Estn of Equitable Mortgage of Property at
Plot No.66 in the SIPCOT Indl. Compex Hosur in Sy.No.22, 23, 86, 290, 292 and
293 (Part) situated at Mookandapalli and Zuzuwadi revenue Village Hosur Tq.
Dharamapuri Dt. All other Terms Conditions and Securities continues for the
increased limit of Rs.65.000 Millions. |
FIXED ASSETS:
- Land
(Leasehold)
- Plant and
Machinery
- Vehicles
- Furniture and
Fixture
- Office
Equipment
- Computers
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.58.93 |
|
|
1 |
Rs.91.81 |
|
Euro |
1 |
Rs.78.18 |
INFORMATION DETAILS
|
Report Prepared
by : |
RAJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--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 |
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 |
|
46 |
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.