MIRA INFORM
REPORT
|
Report Date : |
14.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
CG LUCY SWITCHGEAR LIMITED |
|
|
|
|
Registered
Office : |
6th Floor, CG House, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
09.08.1994 |
|
|
|
|
Com. Reg. No.: |
11-080208 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 12.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31200MH1994PLC080208 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Electrical Switchgear. |
|
|
|
|
No. of Employees
: |
40 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (51) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1214000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having satisfactory track record. There appears an extreme dip in the sales turnover, but the profit
margin is decent during 2012. The portion of external borrowings in the capital structure seems to
be very low. Financial and liquidity position is strong and healthy. Trade relations are fair. Business is active. Payment terms are
reported as 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.
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 INFORMATION)
|
Name : |
Mr. Mukesh Mehta |
|
Designation : |
Deputy Manager in Finance |
|
Contact No.: |
91-253-2581603 |
|
Date : |
13.06.2013 |
LOCATIONS
|
Registered Office : |
6th Floor, CG House, |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
2500 Sq.ft. [Approximately] |
|
Location : |
Owned |
|
|
|
|
Factory : |
F-10, MIDC, Ambad, Nashik – 422010, |
|
Tel. No.: |
91-253-2381603 |
|
Fax No.: |
91-253-2381542 |
DIRECTORS
As on 02.08.2012
|
Name : |
Mr. Charles Richard Dick |
|
Designation : |
Director |
|
Address : |
South Lawn, |
|
Date of Birth/Age : |
13.05.1950 |
|
Date of Appointment : |
09.08.1994 |
|
DIN : |
00256413 |
|
|
|
|
Name : |
Carl Nicholas Sellick |
|
Designation : |
Director |
|
Address : |
3, Raeside Close, Seer Green, |
|
Date of Birth/Age : |
14.07.1967 |
|
Date of Appointment : |
17.03.2000 |
|
DIN : |
00269060 |
|
|
|
|
Name : |
Mr. Christopher Robert Levick |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
14.03.1948 |
|
Date of Appointment : |
20.10.2005 |
|
DIN : |
00269085 |
|
|
|
|
Name : |
Mr. Jayant Govindrao Kulkarni |
|
Designation : |
Director |
|
Address : |
2, Datta Kunj, Annad Nagar, |
|
Date of Birth/Age : |
27.10.1954 |
|
Date of Appointment : |
01.11.2004 |
|
DIN : |
00348942 |
|
|
|
|
Name : |
Mr. Trilochan Sar |
|
Designation : |
Alternate Director |
|
Address : |
C-305, Pearl Drop, GE Gardens, LBS Marg, Kajur Marg west, Mumbai –
400078 |
|
Date of Birth/Age : |
03.08.1956 |
|
Date of Appointment : |
12.05.2010 |
|
DIN : |
01971897 |
|
|
|
|
Name : |
Mr. Mukul Srivastava |
|
Designation : |
Director |
|
Address : |
6, Asher Enclave Estate, Upnagar, Nashik – 422006 |
|
Date of Birth/Age : |
03.11.1968 |
|
Date of Appointment : |
20.11.2007 |
|
DIN : |
02005717 |
|
|
|
|
Name : |
Mr. Graham Frederick Briggs |
|
Designation : |
Director |
|
Address : |
61, Westend, Witney, Oxon, OX281NJ, |
|
Date of Birth/Age : |
23.08.1962 |
|
Date of Appointment : |
20.11.2007 |
|
DIN : |
02007408 |
|
|
|
|
Name : |
Mr. Laurent Dominique Leon Demortier |
|
Designation : |
Director |
|
Address : |
9 Avenue De La Passerelle, |
|
Date of Birth/Age : |
02.05.1961 |
|
Date of Appointment : |
27.07.2011 |
|
DIN No.: |
03520825 |
KEY EXECUTIVES
|
Name : |
Mr. Mukesh Mehta |
|
Designation : |
Deputy Manager in Finance |
MAJOR SHAREHOLDERS
As on 02.08.2012
|
Names of Shareholders |
|
No. of Shares |
|
Keval Kishor Nohria |
|
1 |
|
Sudhir Mohan Trehan |
|
1 |
|
W Lucy and Company, |
|
600000 |
|
Crompton Greaves Limited, |
|
599993 |
|
Mukul Srivastava |
|
1 |
|
|
|
1 |
|
Jayant Govondrao Kulkarni |
|
1 |
|
Trilochan Sar |
|
1 |
|
Sushant Arora |
|
1 |
|
Total |
|
1200000 |
Equity Share Break up (Percentage of Total Equity)
As on 02.08.2012
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
50.00 |
|
Bodies corporate |
50.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Electrical Switchgear. |
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Products : |
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Exports : |
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Products : |
Switchgear |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS (As On 31.03.2011)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
|
|
|
|
|
|
Electrical Apparatus (RMU and Others) |
Nos. |
7800 |
7800 |
3052 |
|
Total |
Nos. |
7800 |
7800 |
3052 |
GENERAL INFORMATION
|
Customers : |
End Users |
|
|
|
|
No. of Employees : |
40 (Approximately) |
|
|
|
|
Bankers : |
Corporation
Bank, Industrial Finance Branch, No-104, Bharat House, Fort, B. S. Marg,
Mumbai- 400001, Maharashtra, India |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Sharp and Tannan Chartered Accountants |
|
Address : |
2nd Floor, 194, Ravindra Annex, Churchgate Reclamation,
Dinshaw Vaccha Road, Mumbai – 400020, Maharashtra, India |
|
PAN No.: |
AAAFS2967E |
|
|
|
|
Subsidiaries : |
|
|
|
|
|
Associates : |
|
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/-each |
Rs.20.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1200000 |
Equity Shares |
Rs.10/-each |
Rs.12.000 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2010 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
12.000 |
12.000 |
|
(b) Reserves & Surplus |
|
291.586 |
273.302 |
|
(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 |
|
9.135 |
10.957 |
|
(b) Deferred tax liabilities (Net) |
|
2.267 |
0.442 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
|
|
|
|
|
(4)
Current liabilities |
|
|
|
|
(a) Short
term borrowings |
|
0.000 |
0.000 |
|
(b) Trade
payables |
|
70.927 |
82.758 |
|
(c) Other
short terms liabilities |
|
4.828 |
1.576 |
|
(d) Short-term
provisions |
|
5.414 |
8.463 |
|
TOTAL |
|
396.157 |
389.498 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
66.150 |
69.366 |
|
(ii)
Intangible Assets |
|
0.128 |
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 |
|
3.016 |
2.916 |
|
(e) Other
Non-current assets |
|
0.060 |
0.056 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
66.110 |
94.200 |
|
(c) Trade
receivables |
|
183.635 |
97.637 |
|
(d) Cash
and cash equivalents |
|
12.461 |
11.425 |
|
(e)
Short-term loans and advances |
|
64.597 |
113.899 |
|
(f) Other
current assets |
|
0.000 |
0.000 |
|
TOTAL |
|
396.157 |
389.498 |
ABRIDGED BALANCE
SHEET
|
Particulars |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
12.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
242.495 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
254.495 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
13.307 |
|
|
TOTAL BORROWING |
|
|
13.307 |
|
|
DEFERRED TAX LIABILITIES |
|
|
3.517 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
271.319 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
73.683 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
2.905 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
124.961 |
|
|
Sundry Debtors |
|
|
217.950 |
|
|
Cash & Bank Balances |
|
|
6.757 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
80.813 |
|
Total
Current Assets |
|
|
391.649
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
235.750 |
|
|
Other Current Liabilities |
|
|
3.755 |
|
|
Provisions |
|
|
35.254 |
|
Total
Current Liabilities |
|
|
196.918
|
|
|
Net Current Assets |
|
|
194.731
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
271.319 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
386.978 |
575.108 |
862.354 |
|
|
|
Other Income |
9.037 |
5.008 |
7.913 |
|
|
|
TOTAL (A) |
396.015 |
580.116 |
870.267 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of material consumed |
313.250 |
472.850 |
|
|
|
|
Changes in inventories of finished goods (including excise duty) and
work in progress |
8.586 |
17.143 |
|
|
|
|
Employee benefit expenses |
23.393 |
26.056 |
|
|
|
|
Other expenses |
19.130 |
20.147 |
|
|
|
|
TOTAL (B) |
364.359 |
536.196 |
752.700 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
31.656 |
43.920 |
117.567 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.007 |
0.065 |
0.003 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
31.649 |
43.855 |
117.564 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
4.233 |
4.820 |
6.344 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
27.416 |
39.035 |
111.220 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(8.775) |
(12.064) |
42.459 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
18.641 |
26.971 |
68.761 |
|
|
|
|
|
|
|
|
|
|
TAXATION
ADJUSTMENTS OF EARLIER YEARS |
(0.357) |
3.835 |
(0.311) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
AND TAXATION ADJUSTMENTS OF EARLIER YEARS |
18.284 |
30.806 |
68.450 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
228.118 |
197.312 |
163.848 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
0.000 |
7.000 |
|
|
|
Proposed
Dividend |
0.000 |
0.000 |
24.000 |
|
|
|
Corporate tax
on dividend |
0.000 |
0.000 |
3.986 |
|
|
BALANCE CARRIED
TO THE B/S |
246.402 |
228.118 |
197.312 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of Goods on FOB Basis |
60.954 |
80.875 |
135.671 |
|
|
TOTAL EARNINGS |
60.954 |
80.875 |
135.671 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Components and Spares |
26.629 |
73.049 |
151.971 |
|
|
|
Capital Goods |
0.000 |
0.000 |
1.407 |
|
|
TOTAL IMPORTS |
26.629 |
73.049 |
153.378 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
15.24 |
25.67 |
57.04 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
4.62
|
5.37 |
7.87
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
7.08
|
6.79 |
12.90
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.92
|
10.02 |
23.90
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09
|
0.14 |
0.44
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.03
|
0.04 |
0.05
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.02
|
3.42 |
1.99
|
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 |
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 |
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 |
No |
|
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 |
UNSECURED LOANS:
|
Particulars |
31.03.2012 Rs. In Millions |
31.03.2011 Rs. In Millions |
|
LONG TERM BORROWINGS |
|
|
|
Sales Tax Deferral Loan (interest free) (under Part I of Package Scheme of
Incentives (Deferral Scheme), 1993, implemented through SICOM Limited) |
9.135 |
10.957 |
|
Total |
9.135 |
10.957 |
OPERATIONS:
The Company has achieved Net sales of Rs. 386.98 million during the
year. However, there has been increased pressure on sales & the operating
margins due to competition and increased material cost.
FIXED ASSETS:
- Land
- Plant and
Machinery
- Furniture and
Fixtures
- Computer
- Vehicles
- Technical
Knowhow
- 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. 58.41 |
|
|
1 |
Rs. 91.62 |
|
Euro |
1 |
Rs. 78.12 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
51 |
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.