MIRA
INFORM REPORT
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Report Date : |
06.03.2013 |
IDENTIFICATION DETAILS
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Name : |
MSP SPONGE IRON LIMITED |
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Formerly Known
As : |
MSP SPONGE IRON PRIVATE LIMITED |
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Registered
Office : |
1, Crooked Lane, Ground Floor, Kolkata
– 700069, West Bengal |
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Country : |
India |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
16.07.1999 |
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Com. Reg. No.: |
21-114830 |
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Capital
Investment / Paid-up Capital : |
Rs166.547 Millions |
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CIN No.: [Company Identification
No.] |
U27102WB1999PLC114830 |
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PAN No.: [Permanent Account No.] |
AACCM1932G |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
The Subject is engaged in the manufacture and sale of Iron and Steel, Ferro Alloy Products and Captive Power Generation. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (49) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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.41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 5700000 |
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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 part of MSP group. It is a well established company
having a satisfactory track record. Financially company appears to be strong.
Performance capability seems to be high liquidity position is good The promoters appears to experience businessmen. Trade relations are
reported to be fair. Business is active. Payments are reported to be regular
and as per commitment. The company can be considered for normal 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 – June 30, 2012
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Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces of
its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to become
a major exporter of information technology services and software workers. In
2010, the Indian economy rebounded robustly from the global financial crisis -
in large part because of strong domestic demand - and growth exceeded 8%
year-on-year in real terms. However, India's economic growth in 2011 slowed
because of persistently high inflation and interest rates and little progress
on economic reforms. High international crude prices have exacerbated the
government's fuel subsidy expenditures contributing to a higher fiscal deficit,
and a worsening current account deficit. Little economic reform took place in
2011 largely due to corruption scandals that have slowed legislative work.
India's medium-term growth outlook is positive due to a young population and
corresponding low dependency ratio, healthy savings and investment rates, and
increasing integration into the global economy. India has many long-term
challenges that it has not yet fully addressed, including widespread poverty,
inadequate physical and social infrastructure, limited non-agricultural
employment opportunities, scarce access to quality basic and higher education,
and accommodating rural-to-urban migration.
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Source
: CIA |
EXTERNAL AGENCY RATING
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Rating Agency Name |
CARE |
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Rating |
BBB (Long Term Rating) |
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Rating Explanation |
Having Moderate degree of safety regarding
timely servicing of Financial Obligation. It carry moderate credit risk. |
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Date |
April 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
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Registered Office : |
1, Crooked Lane, Ground Floor,
Kolkata – 700069, West Bengal, India |
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Tel. No.: |
91-33-40057777 |
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Fax No.: |
91-33-40057788 |
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E-Mail : |
DIRECTORS
As on: 29.09.2012
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Name : |
Mr. Saket Agrawal |
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Designation : |
Director |
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Address : |
386A Block-G, New Alipore, Kolkata -700053, West
Bengal, India |
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Date of Birth/Age : |
27.02.1980 |
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Qualification |
MBA |
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Experience : |
10 Years |
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Date of Appointment : |
16.07.1999 |
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PAN No.: |
ACJPA0455C |
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DIN No.: |
00129209 |
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Other Directorship :
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Name : |
Mr. Manish Agrawal |
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Designation : |
Director |
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Address : |
386A Block-G, New Alipore, Kolkata - 700053, West Bengal, India |
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Date of Birth/Age : |
04.02.1980 |
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Qualification |
MBA |
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Experience : |
10 Years |
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Date of Appointment : |
16.07.1999 |
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PAN No.: |
ACJPA0456B |
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DIN No.: |
00129240 |
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Other Directorship :
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Name : |
Mr. Pradip Kumar Dey |
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Designation : |
Director |
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Address : |
104/3/4, Satyen Roy Road, Kolkata-700034, West Bengal, India |
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Date of Birth/Age : |
04.05.1962 |
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Qualification |
LLB |
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Date of Appointment : |
16.07.1999 |
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PAN No.: |
AGIPD2752Q |
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DIN No.: |
00587842 |
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Other Directorship :
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 29.09.2012
SHAREHOLDING DETAILS FILE ATTACHED
As on: 06.12.2012
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Names of Allottee |
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No. of Shares |
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M.A Hire Purchase Private Limited, India |
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116666 |
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Total |
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116666 |
As on: 12.12.2012
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Names of Allottee |
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No. of Shares |
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Jai K. Leasing and Commercial Investment Limited, India |
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55555 |
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Total |
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55555 |
As on: 11.10.2012
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Name of Allottee |
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No.
of Share |
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Jai K. Leasing and Commercial Investment Limited ,India |
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55556 |
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M.A Hire Purchase Private Limited, India |
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27778 |
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Total |
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83334 |
As on: 06.10.2012
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Name of Allottee |
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No.
of Share |
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Jai K. Leasing and Commercial Investment, India |
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55555 |
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M.A Hire Purchase Private Limited, India |
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27777 |
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Total |
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83332 |
As on: 11.11.2012
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No. of Allottee |
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No.
of Share |
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Jai K. Leasing and Commercial Investment Limited, India |
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77778 |
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M.A Hire Purchase Private Limited, India |
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94445 |
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Total |
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172223 |
Equity Share Break up (Percentage of Total Equity)
As on: 29.09.2012
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Category |
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Percentage |
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Bodies Corporate (Not Mentioned Above) |
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92.13 |
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Directors or relatives of directors |
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7.51 |
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Other top fifty shareholders(other than listed above) |
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0.36 |
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Total
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100.00 |
BUSINESS DETAILS
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Line of Business : |
The Subject is engaged in the manufacture and sale of Iron and Steel, Ferro Alloy Products and Captive Power Generation. |
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Products : |
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GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
·
State Bank
of India, Commercial Branch,24 Park Street Kolkata -700016, West Bengal, India
·
Citi Bank, Kolkata, West Bengal, India · HDFC Bank Limited |
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
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Auditors : |
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Name : |
G. Goenka and Company Chartered Accountants |
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Address : |
18, British Indian, Street, 3rd Floor, Room-305, Kolkata - 700069, West Bengal, India |
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PAN No.: |
AAEFG1095P |
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Associate |
Howrah Gases Limited CIN No.: L24111WB1985PLC038480 MSP Steel and Power Limited CIN No.: L27109WB1968PLC027399 Shree Khatupati Mercantiles Private Limited. CIN No.: U51909WB1993PTC059469 MSP Metallics Limited CIN No.: U27109WB1996PLC082138 MSP Properties (India) Limited CIN No.: U70101WB1997PLC085430 MSP Mines and Minerals Limited CIN No.: U10101WB2007PLC118764 MSP Infotech Private Limited CIN No.: U72200WB2000PTC091431 |
CAPITAL STRUCTURE
After: 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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25000000 |
Equity Shares |
Rs.10/- each |
Rs.250.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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22614130 |
Equity Shares |
Rs.10/- each |
Rs.226.141
Millions |
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As on: 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
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25000000 |
Equity Shares |
Rs.10/- each |
Rs.250.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
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22103020 |
Equity Shares |
Rs.10/- each |
Rs.221.030
Millions |
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As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
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25000000 |
Equity Shares |
Rs.10/- each |
Rs.250.000 Millions |
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|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
16654687 |
Equity Shares |
Rs.10/- each |
Rs.166.547 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
166.547 |
146.162 |
128.612 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1279.915 |
843.336 |
648.714 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1446.462 |
989.498 |
777.326 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
2097.050 |
712.232 |
795.806 |
|
|
2] Unsecured Loan |
75.039 |
120.803 |
34.318 |
|
|
TOTAL BORROWING |
2172.089 |
833.035 |
830.124 |
|
|
DEFERRED TAX LIABILITIES |
84.989 |
81.802 |
59.208 |
|
|
|
|
|
|
|
|
TOTAL |
3703.540 |
1904.335 |
1666.658 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
713.944 |
687.636 |
657.830 |
|
|
Capital work-in-progress |
1537.607 |
305.728 |
73.953 |
|
|
|
|
|
|
|
|
INVESTMENT |
80.441 |
80.391 |
82.666 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
425.650
|
438.269 |
451.611 |
|
|
Sundry Debtors |
324.050
|
254.336 |
205.384 |
|
|
Cash & Bank Balances |
137.072
|
107.184 |
121.062 |
|
|
Other Current Assets |
10.620
|
8.672 |
0.000 |
|
|
Other Non Current Assets |
0.036
|
0.054 |
0.000 |
|
|
Loans & Advances |
858.095
|
501.307 |
365.404 |
|
Total
Current Assets |
1755.523
|
1309.822 |
1143.461 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
224.883
|
212.244 |
202.202 |
|
|
Other Current Liabilities |
149.541
|
259.335 |
26.423 |
|
|
Provisions |
9.551
|
7.663 |
62.786 |
|
Total
Current Liabilities |
383.975
|
479.242 |
291.411 |
|
|
Net Current Assets |
1371.548
|
830.580 |
852.050 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.159 |
|
|
|
|
|
|
|
|
TOTAL |
3703.540 |
1904.335 |
1666.658 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.211 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2131.182
|
2061.272 |
2456.276 |
|
|
|
Other Income |
12.281 |
5.116 |
51.567 |
|
|
|
TOTAL (A) |
2143.463 |
2066.388 |
2507.843 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of material consumed |
1623.940 |
1398.903 |
|
|
|
|
Changes in investment of finished goods, Work in-Progress and
Stock-in-trade |
21.595 |
108.521 |
|
|
|
|
Employee benefit expense |
80.517 |
68.299 |
|
|
|
|
Other expenses |
176.387 |
256.840 |
|
|
|
|
Prior period item before tax |
(1.913) |
0.000 |
|
|
|
|
TOTAL (B) |
1900.526 |
1832.563 |
2282.494 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
242.937 |
233.825 |
225.349 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
103.902 |
90.388 |
71.494 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
139.035 |
143.437 |
153.855 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
67.022 |
72.270 |
95.671 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
72.013 |
71.167 |
58.184 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
4.969 |
21.633 |
8.230 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
67.044 |
49.534 |
49.954 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.37 |
2.85 |
3.88 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
3.13 |
2.40 |
1.99 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.38 |
3.45 |
2.37 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.92 |
3.56 |
3.23 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05 |
0.07 |
0.07 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.50 |
0.84 |
1.07 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.58 |
2.73 |
3.92 |
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 |
Yes |
|
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 Village
Haldiagunap O Gobardhan, Keonjhar – 758013, Orissa, India to the present
address w.e.f. 06.03.2007
UNSECURED LOAN
(Rs. In Millions)
|
Particular |
As on 31.03.2012 |
As on 31.03.2011 |
|
Long term |
|
|
|
Intercorporate deposit |
21.538 |
0.000 |
|
Deposit |
2.531 |
34.700 |
|
Loans and advances from related parties |
50.970 |
86.103 |
|
|
|
|
|
Total |
75.039 |
120.803 |
Bankers Charges Report
as per Registry
|
Corporate identity
number (CIN) or foreign company registration
number of the company |
U27102WB1999PLC114830 |
|
Name of the
company |
MSP SPONGE IRON
LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
1, Crooked Lane,
Ground Floor Kolkata -700069, West Bengal, India |
|
This form is for |
Modification
of charge |
|
Charge identification
(ID) number of the charge to be modified |
90081489 |
|
Type of charge |
·
Immovable
property ·
Others(Plant
and Machinery) |
|
Particular of
charge holder |
State Bank Of
India, Commercial Branch, Kolkata 24, Park Street Kolkata-700016, West Bengal,
India Email: sbi.07502@sbi.co.in |
|
Nature of
instrument creating charge |
Memorandum of
deposit for creation for overall limit where initial charge is created by way
of mortgage by deposit of title deeds-(form-C.10) (2 sets). |
|
Date of
instrument Creating the charge |
17.12.2012 |
|
Amount secured by
the charge |
Rs.1993.400
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest CC/WCDL: At 3.00%
above Base Rate. Term Loan-II and
III: As Per the terms of sanction Terms of
Repayment Working Capital
Limit is repayable on demand. The existing Term
Loans are repayable as per existing/revised terms of repayment . Margin As stipulated by
the Bank for the respective assets from time to time. Cash Credit: Raw Materials (Domestic and
Imported):25%, Stock in
progress: 25%, Finished
Goods:25%, Receivables
(cover 90 days):25%, LC:10%, BG:10% and TL-III
(Rs.255.000 Millions):34.30%. Extent and
Operation of the charge The charges
operates as first charge basis on the whole of the mortgaged properties of
the Company as mentioned in column No.15 to secure the maximum amount under
the said charge fixed at Rs.1993.400 Millions together with interest, costs
and charges thereon. Others The Borrower
shall not do or allow anything which may prejudice the security and shall
comply with the terms and condition of the Agreements. All other terms
and condition to remain as before in full force and effect. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Existing and New factory
land and building, all fixed assets including plant and machinery and other
movable assets, both present and future situated at Mouza Haldiaguna and
Ballsuan, Keonjhar Comprised in
sales deed Nos. 1850, 1849,1848,1847, 1846, 1843, 1842, 1921, 888, and 1154
and Khatian Nos. 97/38 and 70/15 Property situated
at Village/Mouza Manuawapali, P.H. No.21, Tahsil and District Raigarh, P.S.
Chakradhar Nagar, Chhattisgarh, Khasra No. 27/1-0.433 Hect. Khasra
No.41-0.279 Hect. Khasra No.49-0.093 Hect. Khasra
No.25-0.417 Hect. Khasra No.27/2-0.429 Hect. Aggregating to 1.651 Hect. Under
S.R. Raigarh under Sales Deed Nos.5300, 1782 and 3274 |
|
Date of
instrument modifying the charge |
09.07.2012 |
|
Particulars of
the present modification |
By this
modification, charge on mortgaged properties of the Company situated at Mouza
Haldiaguna and Ballsuan, Keonjhar, Orissa and Mouza Manuawapali, District
Raigarh, Chattisgarh extended to secure the overall limit of Rs.1993.400
Millions/-as stated under together with interest, costs and charges thereon: CC: Rs.1200.000
Millions TL-II: Rs.80.000
Millions TL-III:
Rs.255.000 Millions BG: Rs:30.000
Millions LC: Rs.250.000
Millions FC: Rs.28.400
Millions SLC:Rs.150.000
Millions |
FIXED ASSETS:
Tangible Assets
· Land
· Factory Building
· Factory Equipments
· Furniture and Fixtures
· Motor Vehicles
· Plant and Equipment
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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.54.65 |
|
|
1 |
Rs.82.66 |
|
Euro |
1 |
Rs.71.21 |
INFORMATION DETAILS
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
|
49 |
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.