MIRA INFORM REPORT
|
Report Date : |
19.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
CENTRIC STEEL LIMITED [w.e.f. 14.05.2007] |
|
|
|
|
Formerly Known
As : |
CENTRIC IRON AND STEEL INDUSTRIES LIMITED [w.e.f. 07.02.2007] CENTRIC IRON AND STEEL INDUSTRIES PRIVATE LIMITED [w.e.f. 27.12.2006] BASUDEV SCARVES PRIVATE LIMITED |
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|
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Registered
Office : |
43, Sardar Pratap Singh Industrial Estate, No. 3, LBS Marg, Bhandup
(West), Mumbai-400078, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
05.02.1986 |
|
|
|
|
Com. Reg. No.: |
11-038866 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.7.339
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U99999MH1986PLC038866 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEC07403E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCB3566C |
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|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer and Supplier of Precision ERW Tubes and Pipes. |
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|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 260000 |
|
|
|
|
Status : |
Satisfactory |
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|
|
|
Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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|
|
Comments : |
Subject is an established company having a satisfactory track record. There appears an increase in the sales turnover as well as net
profitability of the company during 2012. Liquidity position is under
pressure. Trade relations are fair. Business is active. Payment terms are
reported as slow but 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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
B- (Long Term Fund Based Limits) |
|
Rating Explanation |
High risk of default. |
|
Date |
July 2012 |
|
Rating Agency Name |
ICRA |
|
Rating |
A4 (Short Term Non Fund Based Limits) |
|
Rating Explanation |
Minimal degree of safety and very high 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.
LOCATIONS
|
Registered Office : |
43, Sardar Pratap Singh Industrial Estate, No. 3, LBS Marg, Bhandup
(West), Mumbai-400078, Maharashtra, India
|
|
Tel. No.: |
91-22-25668527/25669803 |
|
Fax No.: |
91-22-25663058 |
|
E-Mail : |
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|
|
|
|
Factory : |
T-24, MIDC Industrial Area, Taloja, District Raigad-410208,
Maharashtra, India |
|
Tel. No.: |
91-22-27411981 |
DIRECTORS
As on: 29.09.2012
|
Name : |
Mrs. Rithu Niraj Kochhar |
|
Designation : |
Director |
|
Address : |
43, Sardar Pratap Singh Industrial Estate, No. 3, LBS Marg, Bhandup
(West), Mumbai-400078, Maharashtra, India
|
|
Date of Birth/Age : |
06.10.1961 |
|
Date of Appointment : |
14.05.2007 |
|
DIN No.: |
01147486 |
|
|
|
|
Name : |
Mr. Niraj Vishwanath Kochhar |
|
Designation : |
Director |
|
Address : |
43, Sardar Pratap Singh Industrial Estate, No. 3, LBS Marg, Bhandup
(West), Mumbai-400078, Maharashtra, India
|
|
Date of Birth/Age : |
15.08.1957 |
|
Date of Appointment : |
14.05.2007 |
|
DIN No.: |
01727348 |
|
|
|
|
Name : |
Mr. Adhish Niraj Kochhar |
|
Designation : |
Director |
|
Address : |
43, Sardar Pratap Singh Industrial Estate, No. 3, LBS Marg, Bhandup
(West), Mumbai-400078, Maharashtra, India
|
|
Date of Birth/Age : |
19.10.1982 |
|
Date of Appointment : |
14.05.2007 |
|
DIN No.: |
01727646 |
MAJOR SHAREHOLDERS
As on: 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Niraj Vishwanath Kochhar |
|
36387 |
|
Rithu Niraj Kochhar |
|
22300 |
|
Adhish Niraj Kochhar |
|
4700 |
|
Rishab Kochhar |
|
4700 |
|
Vedika Kochhar |
|
1801 |
|
T.R. Mehta |
|
1 |
|
Niraj Vishwanath Kochhar HUF |
|
3501 |
|
Total |
|
73390 |
Equity Share Break up (Percentage of Total Equity)
As on: 29.09.2012
|
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 |
|
|
Bodies corporate |
|
|
Directors or relatives of Directors |
95.23 |
|
Other top fifty shareholders |
4.77 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Supplier of Precision ERW Tubes and Pipes. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
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|
|
|
|
Auditors : |
|
|
Name : |
Chhogmal and Company Chartered Accountants |
|
Address : |
206, Apollo Chambers, Mogra Road, Andheri (East), Mumbai-400069,
Maharashtra, India |
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Tel. No.: |
91-22-66995808/28360511 |
|
Fax No.: |
91-22-66995808 |
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E-Mail : |
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PAN No.: |
AAIPS9715N |
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Company
Controlled by Directors : |
Niraj Metal and Alloys Private Limited |
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.100/- each |
Rs.10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
73390 |
Equity Shares |
Rs.10/- each |
Rs.7.339
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 |
|
7.339 |
5.000 |
|
(b) Reserves & Surplus |
|
59.119 |
28.613 |
|
(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 |
|
66.859 |
93.919 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
|
|
|
|
|
(4) Current liabilities |
|
|
|
|
(a) Short term borrowings |
|
61.977 |
59.911 |
|
(b) Trade payables |
|
58.493 |
51.497 |
|
(c) Other current liabilities |
|
86.361 |
51.109 |
|
(d) Short-term provisions |
|
0.133 |
0.026 |
|
TOTAL |
|
340.281 |
290.075 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
139.748 |
143.595 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
|
36.463 |
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 |
|
9.071 |
0.766 |
|
(e) Other Non-current assets |
|
3.513 |
3.514 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
92.161 |
80.041 |
|
(c) Trade receivables |
|
47.493 |
53.429 |
|
(d) Cash and cash equivalents |
|
1.197 |
0.434 |
|
(e) Short-term loans and advances |
|
10.635 |
8.296 |
|
(f) Other current assets |
|
0.000 |
0.000 |
|
TOTAL |
|
340.281 |
290.075 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
5.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
27.406 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
32.406 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
150.667 |
|
|
2] Unsecured Loans |
|
|
32.429 |
|
|
TOTAL BORROWING |
|
|
183.096 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
215.502 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
147.734 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
1.530 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
58.529 |
|
|
Sundry Debtors |
|
|
57.365 |
|
|
Cash & Bank Balances |
|
|
0.294 |
|
|
Other Current Assets |
|
|
0.346 |
|
|
Loans & Advances |
|
|
13.813 |
|
Total
Current Assets |
|
|
130.347 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
62.296 |
|
|
Other Current Liabilities |
|
|
1.781 |
|
|
Provisions |
|
|
0.032 |
|
Total
Current Liabilities |
|
|
64.109 |
|
|
Net Current Assets |
|
|
66.238 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
215.502 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
264.570 |
191.970 |
187.271 |
|
|
|
Other Income |
0.019 |
0.019 |
0.053 |
|
|
|
TOTAL (A) |
264.589 |
191.989 |
187.324 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
228.368 |
157.823 |
|
|
|
|
Changes in Inventories of Finished Goods, Work-in-Progress and
Stock-in-Trade |
(10.221) |
(13.991) |
158.256 |
|
|
|
Employee Benefits Expense |
6.080 |
5.072 |
|
|
|
|
Other Expense |
10.924 |
13.849 |
|
|
|
|
TOTAL (B) |
235.151 |
162.753 |
158.256 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
29.438 |
29.236 |
29.068 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
20.314 |
20.872 |
20.792 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
9.124 |
8.364 |
8.276 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
5.946 |
5.893 |
5.681 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
3.178 |
2.471 |
2.595 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(7.680) |
0.000 |
0.834 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
10.858 |
2.471 |
1.761 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
4.737 |
2.266 |
0.505 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
15.595 |
4.737 |
2.266 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
216.98 |
24.15 |
35.22 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
4.10
|
1.29 |
0.94 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.20
|
1.29 |
1.39 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.05
|
0.85 |
0.93 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05
|
0.07 |
0.08 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.94
|
4.58 |
5.65 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.73
|
0.87 |
2.03 |
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 |
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 |
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 |
Yes |
NOTE:
The registered office of the company has been shifted from Plot No. T-24, MIDC Industrial Area, Taloja, District Raigad-410208, Maharashtra, India to the present address w.e.f. 21.07.2011.
UNSECURED LOAN:
(Rs.
in Millions)
|
Particulars |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
LONG-TERM
BORROWINGS |
|
|
|
Adhish Kochhar |
5.766 |
5.766 |
|
Rishab Kochhar |
2.318 |
2.318 |
|
Niraj Kochhar |
11.685 |
11.685 |
|
Niraj Kochhar HUF |
3.506 |
3.506 |
|
Mrs. T.R. Mehta |
0.250 |
0.250 |
|
Vedika Kochhar |
3.809 |
3.809 |
|
Rithu Kochhar |
5.094 |
5.094 |
|
Total |
32.428 |
32.428 |
BANKERS CHARGES
REPORT AS PER REGISTRY:
|
Corporate
identity number of the company |
U99999MH1986PLC038866 |
|
Name of the
company |
CENTRIC STEEL
LIMITED |
|
Address of the
registered office or of the principal place of business in |
43 Sardar Pratap
Singh Industrial Estate, No. 3, LBS Marg, Bhandup (West), Mumbai – 400078,
Maharashtra India |
|
This form is for |
Modification of charge |
|
Charge
identification (ID) number of the charge to be modified |
10075480 |
|
Type of charge |
|
|
Particular of
charge holder |
Canara Bank,
Bhandup Main, Mumbai - 400078, Maharashtra, India |
|
Nature of
instrument creating charge |
Supplemental
common Hypothecation agreement dated 04.05.2012 and pronote dated 04.05.2012 |
|
Date of
instrument Creating the charge |
04.05.2012 |
|
Amount secured by
the charge |
Rs.222.500
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest @ 4% per
annum above base rate with a min of 14.50% per annum compounded monthly for
value received Terms of Repayment On demand Margin 25% on stock and
book debts Extent and Operation of the charge Working capital and
term loan together = Rs. 222.500 Millions |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
For working
capital limits = hypothecation of stock and book debts at plot no. 24, taloja
industrial area and Gate no. 165, near chitli fata, Pune Nashik Road, village
kururli khed, Pincode – 410501 For term loan =
hypothecation of plant and machinery, negative lien of leasehold land and
building at plot no. 24, taloja industrial area. Assets charged
for term loan shall be available as collateral security for working capital
limits and vice versa. |
|
Date of
instrument modifying the charge |
29.10.2007 |
|
Particulars of
the present modification |
Working capital
limit enhanced from 60.000 Millions to 107.500 Millions |
FIXED ASSETS:
- Land
- Factory
Building
- Plant and
Machinery
- Electrical
Installation
- Computer
Systems
- Vehicles
- Furniture
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.58.45 |
|
|
1 |
Rs.91.60 |
|
Euro |
1 |
Rs.77.91 |
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 |
4 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
45 |
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.