MIRA
INFORM REPORT
|
Report Date : |
21.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
TITAN TIMEPRODUCTS LIMITED |
|
|
|
|
Registered
Office : |
L-15, Electronic City, |
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|
|
|
Country : |
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|
|
|
Financials (as
on) : |
31.03.2012 |
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|
|
|
Date of
Incorporation : |
31.07.1991 |
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|
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|
Com. Reg. No.: |
24-001148 |
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|
|
Capital Investment
/ Paid-up Capital : |
Rs.19.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U33301GA1991PLC001148 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRT02154F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCT1287A |
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|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
Line of Business
: |
Manufacturer and Seller of Electronic Circuit Boards and Micro
Assemblies. |
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|
|
|
No. of Employees
: |
Approximately 126 (of which 98 were direct employees) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 310000 |
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|
|
|
Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having a satisfactory track
record. Trade relations are regarded as fair. Business is active. Payment
terms are regular. The company can be considered for business dealing 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 DECLINED BY
|
Name : |
Mr. M J Shilesh |
|
Designation : |
HR Department |
|
Contact No.: |
91-832-6680173 |
|
Date : |
20.06.2013 |
|
|
|
|
Name : |
Mr. Anil Arondakar |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-832-6680173 |
|
Date : |
20.06.2013 |
LOCATIONS
|
Registered Office/ Factory : |
L-15, Electronic City, |
|
Tel. No.: |
91-832-6680173/ 74-80 |
|
Mobile No.: |
91-9225900314 (Mr. M.J. Shilesh) |
|
Fax No.: |
91-832-2783311 |
|
E-Mail : |
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|
Website : |
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|
Area : |
10000 sq. ft. |
|
Location : |
Owned |
DIRECTORS
AS ON 18.07.2012
|
Name : |
Mr. Bhaskar Bhat |
|
Designation : |
Director |
|
Address : |
No.884, Chaitanya Plot, Indiranagar, 1st Stage, |
|
Date of Birth/Age : |
29.08.1954 |
|
Qualification : |
B. Tech, PGDM |
|
Date of Appointment : |
24.06.2005 |
|
DIN No.: |
00148778 |
|
|
|
|
Name : |
Mr. Parthasarathy Varadarajan |
|
Designation : |
Director |
|
Address : |
New No.10, Old No.48, Sri Venkatesa Perumal Nagar, Arumbakkam, Chennai
– 600 106, |
|
Date of Birth/Age : |
05.02.1959 |
|
Qualification : |
B.Com, ACA, ICWA |
|
Date of Appointment : |
20.10.2008 |
|
DIN No.: |
02266066 |
|
|
|
|
Name : |
Mr. Kailasanathan Narayan |
|
Designation : |
Director |
|
Address : |
Flat F1,
Prathamesh Apartments, 59/2, 6th Main, 17th Cross,
Malleshwaram, |
|
Date of Birth/Age : |
15.02.1952 |
|
Qualification : |
BSC, PGDSM, MFM, PGDSE |
|
Date of Appointment : |
27.04.2010 |
|
DIN No.: |
03398264 |
|
|
|
|
Name : |
Dr. Chandrathilgouri Krishnadas Nair |
|
Designation : |
Director |
|
Address : |
Chandrathil
Mane, No.2388/1, 16th "A" Main, HAL II Stage,
Indiranagar, |
|
Date of Birth/Age : |
17.08.1941 |
|
Date of Appointment : |
19.04.2011 |
|
DIN No.: |
00059686 |
|
|
|
|
Name : |
Hebbani Gopinath Raghunath |
|
Designation : |
Additional Director |
|
Address : |
502, Sriram Sankari Apartments
6/1 2nd Main,
Anjaneyanagar BSK 3rd Stage, Bangalore – 560 085, Karnataka,
India |
|
Date of Birth/Age : |
06.05.1955 |
|
Date of Appointment : |
27.04.2012 |
|
DIN No.: |
03548928 |
KEY EXECUTIVES
|
Name : |
Mr. M J Shilesh |
|
Designation : |
HR Department |
|
|
|
|
Name : |
Mr. Anil Arondakar |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 18.07.2012
|
Names of Shareholders |
No. of Shares |
|
Titan Industries Limited, |
1899990 |
|
Titan Industries Limited, |
1 |
|
Titan Industries Limited, India jointly with Rajarathnam |
1 |
|
Titan Industries Limited, |
1 |
|
Titan Industries Limited, |
1 |
|
Titan Industries Limited, |
1 |
|
Titan Industries Limited, |
1 |
|
Titan Industries Limited, |
1 |
|
Titan Industries Limited, |
1 |
|
Titan Industries Limited, |
1 |
|
Titan Industries Limited, India jointly with H G Raghunath |
1 |
|
TOTAL
|
1900000 |
AS ON 18.07.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Bodies corporate |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Seller of Electronic Circuit Boards and Micro
Assemblies. |
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Products : |
|
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Actual
Production |
|
Electronic Circuit Boards |
Nos. |
8522403 |
|
|
|
|
GENERAL INFORMATION
|
No. of Employees : |
Approximately 126 (of which 98 were direct employees) |
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Bankers : |
·
Canara Bank, Corporate Service Branch, Shankar Narayana
Building, No.25, M.G. Road, Bangalore – 560 025, Karnataka, India ·
Standard Charted Bank |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
Deloitte Centre, |
|
Tel. No.: |
91-80-66276000 |
|
Fax No.: |
91-80-66276011 |
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PAN No.: |
AACFD3771D |
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|
|
|
Holding Company : |
·
Titan Industries Limited |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs. 30.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1900000 |
Equity Shares |
Rs.10/- each |
Rs. 19.000
Millions |
|
|
|
|
|
AS ON 18.07.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs. 30.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital : Rs. 19.625 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 |
|
19.000 |
19.000 |
|
(b) Reserves & Surplus |
|
58.618 |
48.324 |
|
(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 |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
2.772 |
5.498 |
|
(c) Other long term liabilities |
|
0.110 |
0.852 |
|
(d) long-term provisions |
|
17.743 |
12.476 |
|
|
|
|
|
|
(4) Current liabilities |
|
|
|
|
(a) Short term
borrowings |
|
0.000 |
4.977 |
|
(b) Trade payables |
|
33.167 |
33.976 |
|
(c) Other current
liabilities |
|
3.409 |
4.545 |
|
(d) Short-term provisions |
|
34.744 |
27.721 |
|
TOTAL |
|
169.563 |
157.369 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
52.912 |
53.509 |
|
(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 |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
2.317 |
0.333 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
25.582 |
23.912 |
|
(c) Trade receivables |
|
32.301 |
39.765 |
|
(d) Cash and cash
equivalents |
|
15.442 |
0.880 |
|
(e) Short-term loans
and advances |
|
40.782 |
38.970 |
|
(f) Other current
assets |
|
0.227 |
0.000 |
|
TOTAL |
|
169.563 |
157.369 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
19.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
41.063 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
60.063 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
3.764 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
3.764 |
|
|
DEFERRED TAX LIABILITIES |
|
|
5.961 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
69.788 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
51.539 |
|
|
Capital work-in-progress |
|
|
0.368 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
13.989 |
|
|
Sundry Debtors |
|
|
17.361 |
|
|
Cash & Bank Balances |
|
|
0.353 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
11.477 |
|
Total
Current Assets |
|
|
43.180 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
10.272 |
|
|
Other Current Liabilities |
|
|
4.132 |
|
|
Provisions |
|
|
10.895 |
|
Total
Current Liabilities |
|
|
25.299 |
|
|
Net Current Assets |
|
|
17.881 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
69.788 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
258.722 |
227.912 |
144.714 |
|
|
|
Other Income |
0.333 |
1.142 |
2.421 |
|
|
|
TOTAL (A) |
259.055 |
229.054 |
147.135 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
135.760 |
126.213 |
|
|
|
|
Employee benefit expense |
54.053 |
43.842 |
|
|
|
|
Other expenses |
47.174 |
42.443 |
|
|
|
|
Changes in inventories
of finished goods, work-in-progress and stock-in-trade |
(0.048) |
(1.627) |
|
|
|
|
TOTAL (B) |
236.939 |
210.871 |
136.557 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
22.116 |
18.183 |
10.578 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.327 |
0.292 |
0.163 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
21.789 |
17.891 |
10.415 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
7.197 |
6.293 |
6.088 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
14.592 |
11.598 |
4.327 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
4.299 |
4.337 |
0.884 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
10.293 |
7.261 |
3.443 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
44.397 |
37.136 |
33.693 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
54.690 |
44.397 |
37.136 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
13.946 |
5.934 |
|
|
TOTAL EARNINGS |
NA |
13.946 |
5.934 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
93.190 |
93.040 |
54.150 |
|
|
|
Stores & Spares |
0.899 |
0.776 |
0.338 |
|
|
|
Capital Goods |
1.564 |
2.876 |
2.201 |
|
|
TOTAL IMPORTS |
95.653 |
96.692 |
56.689 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
5.42 |
3.82 |
1.81 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
3.97
|
3.17 |
2.34 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.64
|
5.09 |
2.99 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.61
|
7.37 |
4.57 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19
|
0.17 |
0.07 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00
|
0.07 |
0.06 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.60
|
1.45 |
1.71 |
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 |
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 |
No |
|
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 |
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 |
SUNDRY CREDITORS
DETAILS
(Rs.
In Millions)
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Sundry Creditors
|
33.167 |
33.976 |
|
|
- Creditors due others |
-- |
-- |
10.272 |
|
|
|
|
|
|
TOTAL |
33.167 |
33.976 |
10.272 |
MANUFACTURING
During the year,
the Company produced a total of 90,13,735 Nos. (Previous Year: 85,22,403 Nos.) Electronic
Circuit Boards and Micro Assemblies. This includes the highest ever production
of Watch circuit boards to the tune of 75,37,801 Nos. within the given
resources and infrastructure.
SALES
During the year
2011-2012, the Company sold a total of 89,98,418 Nos. (Previous Year: 85,23,923
Nos.) Electronic Circuit Boards and Micro Assemblies Net sales income of ECBs
during the year was Rs.254.265 Millions (Previous Year: Rs. 226.350 Millions).
The Company met the entire requirement of Titan Industries Limited, as well as
the committed numbers to the external customers. The quality, delivery and
competitive price of the products continue to be well received.
PROSPECTS
The Company continues
to be one of the major suppliers of ECBs to Titan Industries. It has made
continuous efforts to improve the quality of the product, simultaneously
aligning to the varying market demands.
The Company has
been able to grow its external business of electronics manufacturing services
significantly by generating business opportunities in automotive, industrial
control, power electronics, telecom, and recently from the green energy
sectors.
About Rs.108.414
Millions of the revenue in the current fiscal has come from sale to these
external customers, who have acknowledged the company’s efforts on its ability
to meet their stringent quality requirements.
The Company has
earned a considerable goodwill in a span of six years and considered as an
emerging player in the Indian electronic manufacturing services industry.
FIXED ASSETS
·
Leasehold Land
·
Factory Building
·
Plant and Machinery
·
Office Equipments
·
Computer Equipments
·
Furniture Fixtures
·
Motor 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 proeeding 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. 59.70 |
|
|
1 |
Rs. 92.21 |
|
Euro |
1 |
Rs. 79.18 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
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 |
10 |
|
--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 |
|
50 |
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.