|
Report Date : |
27.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
ESSAR POWER (JHARKHAND) LIMITED |
|
|
|
|
Registered
Office : |
Prakash Deep Building, 10th Floor, 7 Tolstoy Marg, New
Delhi – 110001, India |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
19.10.2005 |
|
|
|
|
Com. Reg. No.: |
55-211274 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.10024.626 Millions |
|
|
|
|
CIN No.: [Company Identification No.] |
U31101DL2005PLC211274 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Electric Power Generation, Transmission and Distribution |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 39000000 |
|
|
|
|
Status : |
Project under implementation |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a 100% subsidiary of “Essar Power Limited”. Even though the company was incorporated in 2005, it has not yet commence
its commercial activity. As per the director’s report the company expected to get start from
Jan. 2014. From the financial of 2012 the company has recorded some pre-operative
expenses. However, capital base of the company is strong. The subject gets
strong support from its holding company. Payment terms are unknown. The company can be considered for business dealings with some
cautions. |
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) |
|
|
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 |
CARE |
|
Rating |
Long Term Bank Facilities: BBB |
|
Rating Explanation |
Having moderate degree of safety regarding
timely servicing of financial obligation, it carry moderate credit risk. |
|
Date |
March, 2013 |
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 : |
Prakash Deep Building, 10th Floor, 7 Tolstoy Marg, New
Delhi – 110001, India |
|
Tel. No.: |
91-11-43501000 |
|
Fax No.: |
91-11-43501046/ 47 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
Essar House, 11 K K Marg, Mahalaxmi, Mumbai – 400034, Maharashtra,
India |
|
Tel. No.: |
91-22-66601100/ 40011100 |
|
Fax No.: |
91-22-23544787 |
DIRECTORS
(AS ON 03.07.2012)
|
Name : |
Mr. Vijayabhaskara Kalakota Reddy |
|
Designation : |
Director |
|
Address : |
61, Marble Arch, 5th Road, Santacruz (East), Mumbai – 400055,
Maharashtra, India |
|
Date of Birth/Age : |
01.07.1961 |
|
Date of Appointment : |
15.04.2009 |
|
DIN No.: |
01683467 |
|
|
|
|
Name : |
Mr. Ashwini Kumar Singh |
|
Designation : |
Director |
|
Address : |
3-C, E-Block, Belair Apartment, Jokiram Durga Dutt Lane, Main Road,
Ranchi – 834001, Jharkhand, India |
|
Date of Birth/Age : |
01.02.1944 |
|
Date of Appointment : |
05.04.2010 |
|
DIN No.: |
00365901 |
|
|
|
|
Name : |
Mr. Deepak Krishna Gopal Maheshwari |
|
Designation : |
Additional Director |
|
Address : |
16034 Chaitanya Towers, Prabhadevi, Mumbai – 400025, Maharashtra,
India |
|
Date of Birth/Age : |
25.09.1969 |
|
Date of Appointment : |
05.03.2013 |
|
Email : |
|
|
DIN No.: |
01724301 |
KEY EXECUTIVES
|
Name : |
Mr. Debasis Bhattacharya |
|
Designation : |
Company Secretary |
|
Address : |
A-11, 255 Cosmopolis 10th Main 1st Cross, Indiranagar
2nd Stage, Bangalore – 560008, Karnataka, India |
|
Date of Birth/Age : |
05.04.1957 |
|
Date of Appointment : |
05.03.2013 |
|
PAN No.: |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 03.07.2012)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Essar Power Limited, India |
|
1002462522 |
|
Essar Power Limited, India Jointly with Nitesh Nath |
|
10 |
|
Essar Power Limited, India Jointly with S. Bhujade |
|
10 |
|
Essar Power Limited, India Jointly with V T Joshi |
|
10 |
|
Essar Power Limited, India Jointly with Gyan Anand |
|
10 |
|
Essar Power Limited, India Jointly with R K Sethi |
|
10 |
|
Essar Power Limited, India Jointly with R R Pillai |
|
10 |
|
|
|
|
|
Total |
|
1002462582 |
(AS ON 22.03.2013)
|
Names of Allottees |
|
No. of Shares
Allotted |
|
|
|
|
|
Essar Power Limited, India |
|
103850000 |
|
|
|
|
|
Total |
|
103850000 |
(AS ON 30.09.2012)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
100.000 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Electric Power Generation, Transmission and Distribution |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
· ICICI Bank Limited · Punjab and Sind Bank |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institutions : |
· Bajaj Finance Limited · L & T Infrastructure Finance Limited · IDBI Tursteeship Services Limited Asian Building, Ground Floor, 17, R. Kamani Marg, Ballard Estate, Mumbai – 400001, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
“Heritage”, 3rd Floor, Near Gujarat Vidyapith, Off Ashram
Road, Ahmedabad – 380014, Gujarat, India |
|
PAN No.: |
AABFD7919A |
|
|
|
|
Holding Company : |
· Essar Power Limited, India CIN No.: U40100GJ1991PLC064824 |
|
|
|
|
Ultimate Holding Company (As on 31.03.2011) : |
· Essar Global Limited, Cayman Islands |
|
|
|
|
Fellow Subsidiary (As on 31.03.2011) : |
· Essar Power M. P. Limited |
|
|
|
|
Enterprise Commonly
Controlled or influenced by major shareholders / Director of the company (As on
31.03.2011) : |
· Futura Travels Limited · Essar Investment Limited · Essar Steel (Jharkhand) Limited · Essar Project (India) Limited (Formerly Known as Essar Construction (India) Limited) · Essar Engineering Services Limited · Essar infrastructure Services Limited · Essar Information Technology |
CAPITAL STRUCTURE
(AS ON 03.07.2012)
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000000 |
Equity Shares |
Rs.10/- each |
Rs.100000.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1203012582 |
Equity Shares |
Rs.10/- each |
Rs.12030.126
Millions |
|
|
|
|
|
(AS ON 31.03.2012)
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9000000000 |
Equity Shares |
Rs.10/- each |
Rs.90000.000 Millions |
|
1000000000 |
Preference Shares |
Rs.10/- each |
Rs.10000.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.100000.000
Millions |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1002462582 |
Equity Shares |
Rs.10/- each |
Rs.10024.626
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 |
|
10024.626 |
5493.626 |
|
(b) Reserves & Surplus |
|
(180.198) |
(178.626) |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1)+(2) |
|
9844.428 |
5315.000 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
13294.067 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c)
Other long term liabilities |
|
256.894 |
182.435 |
|
(d)
long-term provisions |
|
368.394 |
277.905 |
|
Total
Non-current Liabilities (3) |
|
13919.355 |
460.340 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
0.000 |
0.000 |
|
(b)
Trade payables |
|
0.000 |
0.000 |
|
(c)
Other current liabilities |
|
2148.743 |
153.545 |
|
(d)
Short-term provisions |
|
132.894 |
189.728 |
|
Total
Current Liabilities (4) |
|
2281.637 |
343.273 |
|
|
|
|
|
|
TOTAL |
|
26045.420 |
6118.613 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
979.841 |
839.749 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
17147.596 |
1439.924 |
|
(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 |
|
5062.879 |
3388.031 |
|
(e)
Other Non-current assets |
|
503.216 |
308.195 |
|
Total
Non-Current Assets |
|
23693.532 |
5975.899 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
0.000 |
0.000 |
|
(c)
Trade receivables |
|
0.000 |
0.000 |
|
(d)
Cash and cash equivalents |
|
2249.221 |
89.782 |
|
(e)
Short-term loans and advances |
|
6.641 |
1.930 |
|
(f)
Other current assets |
|
96.026 |
51.002 |
|
Total
Current Assets |
|
2351.888 |
142.714 |
|
|
|
|
|
|
TOTAL |
|
26045.420 |
6118.613 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
463.626 |
|
|
2] Share Application Money |
|
|
193.500 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
(178.408) |
|
|
NETWORTH |
|
|
478.718 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
400.000 |
|
|
TOTAL BORROWING |
|
|
400.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
878.718 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
271.455 |
|
|
Capital work-in-progress |
|
|
736.049 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
10.043 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000 |
|
|
Sundry Debtors |
|
|
0.000 |
|
|
Cash & Bank Balances |
|
|
25.897 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
35.598 |
|
Total
Current Assets |
|
|
61.495 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
|
|
200.324 |
|
|
Other Current Liabilities |
|
|
0.000 |
|
|
Provisions |
|
|
0.000 |
|
Total
Current Liabilities |
|
|
200.324 |
|
|
Net Current Assets |
|
|
(138.829) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
878.718 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
0.000 |
0.000 |
0.000 |
|
|
|
Other Income |
0.000 |
0.000 |
0.000 |
|
|
|
TOTAL |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Operating, Maintenance and Other expenses |
1.572 |
0.217 |
21.519 |
|
|
|
TOTAL |
1.572 |
0.217 |
21.519 |
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(1.572) |
(0.217) |
(21.519) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
(1.572) |
(0.217) |
(21.519) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
(178.408) |
(156.889) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
(178.625) |
(178.408) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(0.0022) |
(0.0005) |
(0.4641) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.00
|
0.00
|
0.00
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.00
|
0.00
|
0.00
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(0.02)
|
0.00 |
(6.46) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00
|
0.00 |
(0.04) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.35
|
0.00 |
0.84 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.03
|
0.42 |
0.31 |
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 |
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 |
Yes |
FIXED ASSETS:
· Freehold Land
· Computer
· Plant and Machinery
· Office Equipment
· Furniture and Fixture
NEWS:
JHARKHAND ENTERS
PPA WITH ESSAR POWER
OCTOBER 2012
Jharkhand government has signed a power purchase agreement (PPA)
recently with Essar Power Jharkhand which is installing a 1,800 mw thermal
power plant at Chandwa of Latehar district. The PPA was signed by the company
as per its MoU signed in 2007.
To set up the power plant, Essar Group was allowed two coal blocks at
North Karanpura and Chakla. The plant will have three units with a total
production capacity of 1,88 mw from which the company will provide 450 mw of
power to Jharkhand State Electricity Board (JSEB).
Adhunik Power and Natural Resources also designed for setting up four
thermal power units of 270 mw each in Kandra of Seraikela-Kharswan district.
The company signed PPA with JSEB for supply of 25 per cent electricity to the
power board at a fixed tariff.
JHARKHAND ENTERS
POWER PURCHASE AGREEMENT WITH PRIVATE PLAYERS
JUNE ‘13
Jharkhand signed power purchase agreement (PPA) recently with Essar Power Jharkhand Limited which is installing a 1,800 MW thermal power plant at Chandwa of Latehar district. The PPA was signed by the company as per its MoU signed in 2007.
In order to set up the power plant, Essar Group was allowed two coal blocks at North Karanpura and Chakla.
The plant will have three units with a total production capacity of 1,88 MW from which the company will provide 450 MW of power to Jharkhand State Electricity Board (JSEB).
Adhunik Power and Natural Resources Limited also designed for setting up four thermal power units of 270 MW each in Kandra of Seraikela-Kharswan district. The company signed PPA with JSEB for supply of 25 per cent electricity to the power board at a fixed tariff.
Abhijit Group - owned, Corporate Power Limited also planned to set up a 1,740 MW power plant near Chandwa with four units of 270 MW each. It will also set up another unit of 660 MW. The PPA is yet to be signed with the state.
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.59.85 |
|
|
1 |
Rs.92.31 |
|
Euro |
1 |
Rs.78.23 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
27 |
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.