MIRA
INFORM REPORT
|
Report Date : |
07.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
JINDAL ALUMINIUM LIMITED |
|
|
|
|
Registered
Office : |
Jindal Nagar, Tumkur Road, Bangalore – 560073, Karnataka |
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|
Country : |
India |
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|
Financials (as
on) : |
31.03.2012 |
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|
Date of
Incorporation : |
14.07.1970 |
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Com. Reg. No.: |
08-002806 |
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Capital
Investment / Paid-up Capital : |
Rs. 510.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27203KA1970PLC002806 [New] U85110KA1975PLC002806 [Old] |
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PAN No.: [Permanent Account No.] |
AAACJ4324M |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer of Aluminium Extrusions. |
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|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
A (61) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 32100000 |
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|
|
|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Exists |
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Comments : |
Subject is the flagships company of the Jindal Group of Industries a
renewed industrial house in India. It is a well established and reputed company
having fine track. There appears huge increase in its long term borrowings
during 2012. However, financial positions of the company appear to be sound.
Trade relations are reported as trustworthy. Business is active. Payments are
reported to be regular and as per commitments. The company can be considered good 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
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating : AA- |
|
Rating Explanation |
High degree of safety and very low credit
risk. |
|
Date |
December 27, 2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating : A1+ |
|
Rating Explanation |
Very strong degree of safety and lowest
credit risk. |
|
Date |
December 27, 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/ Factory : |
Jindal Nagar, Tumkur Road, Bangalore – 560073, Karnataka, India |
|
Tel. No.: |
91-80-23715555 (6 Lines) |
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Fax No.: |
91-80-23713333 |
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E-Mail : |
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Website : |
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Branch Office : |
Located at : Ø Ahmedabad Ø Kochi Ø New Delhi Ø Chennai Ø Mumbai Ø Pune |
DIRECTORS
AS ON 21.08.2012
|
Name : |
Mr. Hari Shanker Bansal |
|
Designation : |
Managing director |
|
Address : |
Bansal Villa, Green Avenue, Behind Bhattar Road, Vasant Kunj, New
Delhi – 110070, India |
|
Date of Birth/Age : |
22.09.1945 |
|
Qualification : |
HSE |
|
Date of Appointment : |
01.08.2007 |
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PAN No.: |
ACWPB0593R |
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DIN No.: |
00034660 |
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|
|
Name : |
Mr. Sitaram Jindal |
|
Designation : |
Managing director |
|
Address : |
Jindal Nagar, Tumkur Road, Bangalore – 560073, Karnataka, India |
|
Date of Birth/Age : |
12.09.1933 |
|
Qualification : |
B.COM |
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Date of Appointment : |
11.06.1975 |
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PAN No.: |
ABIPJ6453B |
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DIN No.: |
00112560 |
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|
|
|
Name : |
Mr. Bajrang Dass Garg |
|
Designation : |
Whole-time director |
|
Address : |
Jindal Nagar, Tumkur Road, Bangalore - 560073, Karnataka, India |
|
Date of Birth/Age : |
24.09.1955 |
|
Qualification : |
B.COM |
|
Date of Appointment : |
09.08.2011 |
|
PAN No.: |
AAQPG0587Q |
|
DIN No.: |
00008059 |
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|
|
|
Name : |
Mr. Krishnaswamy Iyengar Ramaswamy Iyengar Raghunath |
|
Designation : |
Whole-time director |
|
Address : |
1202, Shantala Rajajinagar, 2nd Stage, Bangalore - 560073,
Karnataka, India |
|
Date of Birth/Age : |
23.02.1945 |
|
Qualification : |
BE |
|
Date of Appointment : |
28.08.1996 |
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PAN No.: |
AALPR6079B |
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DIN No.: |
00009992 |
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|
Name : |
Mrs. Vaidehi Kanoria |
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Designation : |
Director |
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Address : |
A 45, Vasant Marg, Vasant Vihar, New Delhi – 110026, India |
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Date of Birth/Age : |
27.10.1983 |
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Date of Appointment : |
23.07.2002 |
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PAN No.: |
AHPPK1434N |
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DIN No.: |
00013028 |
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|
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Name : |
Mr. Vinod Kumar Aggarwal |
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Designation : |
Director |
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Address : |
3/77, Punjabi Bagh, New Delhi – 110026, India |
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Date of Birth/Age : |
19.10.1961 |
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Date of Appointment : |
06.11.2009 |
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PAN No.: |
AANPA1426H |
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DIN No.: |
00375239 |
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|
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|
Name : |
Mr. Pragun Jindal Khaitan |
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Designation : |
Director |
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Address : |
Sterling Apartments, Plot No. 14/B, 7th Floor, 38G Deshmukh
Marg, Mumbai – 400026, Maharashtra, India |
|
Date of Birth/Age : |
09.08.1992 |
|
Date of Appointment : |
09.08.2010 |
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PAN No.: |
BSWPK6241C |
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DIN No.: |
03181533 |
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Name : |
Mr. Ravinder Jindal |
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Designation : |
Director |
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Address : |
House No. 73, Road No. 41, West Punjabi Bagh, New Delhi – 110026,
India |
|
Date of Birth/Age : |
29.10.1962 |
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Date of Appointment : |
06.10.2009 |
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PAN No.: |
ABIPJ3825D |
|
DIN No.: |
00022246 |
KEY EXECUTIVES
|
Name : |
Mr. P Ashok Rao |
|
Designation : |
Secretary |
|
Address : |
Jindal Nagar, Tumkur Road, Bangalore - 560073, Karnataka, India |
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Date of Birth/Age : |
16.03.1968 |
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Date of Appointment : |
02.05.2011 |
|
PAN No.: |
ADGPA2725H |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
SHAREHOLDING DETAILS FILE ATTACHED
AS ON 21.08.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
21.41 |
|
Directors
or relatives of directors |
|
50.68 |
|
Other
top fifty shareholders |
|
27.91 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Aluminium Extrusions. |
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Products : |
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GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
Ø IDBI Bank Limited,
IDBI Tower WTC Complex, Cuffe Parade, Mumbai - 400005, Maharashtra, India Ø The Honkong
Shanghai Banking Corporation Limited Ø Standard
Chartered Bank |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
S V Surana and Company Chartered Accountants |
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Address : |
4705, 7th Floor,
High Point 1V 45 Palace Road, Bangalore – 560001, Karnataka, India |
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Income-tax
PAN of auditor or auditor's firm : |
ABIPS1056R |
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Joint venture : |
A L Thuraya
Mining LLC |
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Subsidiaries : |
Jindal Aluminium
Rolling Limited [U28121MH2011PLC219872] |
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Associate : |
Drugless Health
Care (India) Limited CN [U27104KA2003PLC031567] |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,100,000 |
Equity Shares |
Rs. 100/- each |
Rs. 510.000 Millions |
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|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,100,000 |
Equity Shares |
Rs. 100/- each |
Rs. 510.000 Millions |
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|
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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 |
510.000 |
210.168 |
210.200 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
7522.038 |
7656.095 |
7761.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
8032.038 |
7866.263 |
7971.200 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1810.141 |
299.714 |
207.200 |
|
|
2] Unsecured Loans |
39.255 |
76.014 |
82.400 |
|
|
TOTAL BORROWING |
1849.396 |
375.728 |
289.600 |
|
|
DEFERRED TAX LIABILITIES |
10.400 |
45.000 |
44.900 |
|
|
|
|
|
|
|
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TOTAL |
9891.834 |
8286.991 |
8305.700 |
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|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
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FIXED ASSETS [Net Block] |
5524.023 |
5464.774 |
6201.700 |
|
|
Capital work-in-progress |
970.013 |
35.100 |
0.000 |
|
|
|
|
|
|
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|
INVESTMENT |
1321.165 |
1444.793 |
1305.900 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
326.908
|
345.307 |
219.900 |
|
|
Sundry Debtors |
456.505
|
514.327 |
459.500 |
|
|
Cash & Bank Balances |
612.788
|
588.858 |
105.900 |
|
|
Other Current Assets |
783.079
|
158.519 |
19.200 |
|
|
Loans & Advances |
578.044
|
294.597 |
447.500 |
|
Total
Current Assets |
2757.324
|
1901.608 |
1252.000 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
110.945
|
44.614 |
70.500 |
|
|
Other Current Liabilities |
463.130
|
422.896 |
343.500 |
|
|
Provisions |
106.616
|
91.774 |
39.900 |
|
Total
Current Liabilities |
680.691
|
559.284 |
453.900 |
|
|
Net Current Assets |
2076.633
|
1342.324 |
798.100 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
9891.834 |
8286.991 |
8305.700 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
8128.112 |
7420.970 |
6016.700 |
|
|
|
Other Income |
333.147 |
288.920 |
243.200 |
|
|
|
TOTAL (A) |
8461.259 |
7709.890 |
6259.900 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
5974.778 |
|
|
|
|
|
Changes in
inventories of finished goods, work-in-progress and stock-in-trade |
(47.380) |
(73.621) |
|
|
|
|
Employee benefit expense |
271.042 |
239.474 |
|
|
|
|
Other expenses |
1321.566 |
1189.728 |
|
|
|
|
TOTAL (B) |
7520.006 |
6649.291 |
5031.500 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
941.253 |
1060.599 |
1228.400 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
34.128 |
22.864 |
181.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
907.125 |
1037.735 |
1046.800 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
54.072 |
48.568 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
853.053 |
989.167 |
1046.800 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
171.207 |
347.179 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
681.846 |
641.988 |
1046.800 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Exports |
774.753 |
603.800 |
494.100 |
|
|
|
|
|
|
|
|
|
CIF VALUE OF
IMPORTS |
N.A. |
391.800 |
398.300 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
132.00 |
133.00 |
305.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
8.06
|
8.33 |
16.72 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
10.50
|
13.33 |
17.40 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.30
|
13.43 |
14.04 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.11
|
0.13 |
0.13 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.23
|
0.05 |
0.04 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.05
|
3.40 |
2.76 |
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 |
Yes |
|
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 |
LITIGATION
DETAILS:
|
ITA (INCOME TAX APPEAL) CASE NO.:
23
CASE YEAR: 2013 HIGH COURT OF KARNATAKA
– PRINCIPAL BENCH AT BANGALORE ITA 23/2013 CASE PENDING
STAGE: PENDING
FOR
LAST POSTED FOR ADMISSION COURT DETAILS [APPEAL
FROM BELOW CASE]
|
UNSECURED LOANS
|
Unsecured Loans |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
|
|
Intercorporate borrowings |
2.500 |
2.500 |
|
Deposits from shareholders |
0.000 |
47.770 |
|
Deposits from others |
28.415 |
6.805 |
|
Loans and advances from related parties |
8.340 |
18.939 |
|
Total |
39.255 |
76.014 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U27203KA1970PLC002806 |
|
Name of the
company |
JINDAL ALUMINIUM
LIMITED |
|
Address of the registered
office or of the principal place of
business in |
Jindal Nagar, Tumkur Road, Bangalore – 560073, Karnataka, India Email: jalsec@jindalaluminium.com
|
|
This form is for |
Modification of charge |
|
Charge
identification number of the modified |
10103021 |
|
Type of charge |
Book debts Movable property (not being pledge) Floating charge |
|
Particular of
charge holder |
IDBI Bank Limited,
IDBI Tower WTC Complex, Cuffe Parade, Mumbai - 400005, Maharashtra, India Email: ck.rukmani@idbi.co.in CIN No.:
L65190MH2004GOI148838 |
|
Nature of description
of the instrument creating or modifying the charge |
Supplemental Deed
of Hypothecation executed on January 02, 2013 by the company in favour of
IDBI Bank Limited |
|
Date of
instrument Creating the charge |
02.01.2013 |
|
Amount secured by
the charge |
Rs. 500.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest CC: Base Rate
plus 100 bps; WCDL: to be decided at the time of drawdown; PC/PCFC/PS:
subject to RBI guideliness; LC/BG:0.40 %pa for existing LC/BG and 0.30%pa for
new LC/BG to be issued, payable upfront Terms of Repayment CC: On Demand;
WCDL: On due date, PC/PCFC: submission of Export Bills on or before due date;
Post Shipment: Realisation of Export Bills on due date, LC: Honoring of
commitments on due date, BG: Return of original guarantee on or before the
date of expiry Margin CC/WCDL: 25% on
Stocks and Receivables (90 Days and below) PC/PCFC: 10% of
Stocks Extent and Operation of the charge Paripassu 1st
charge on borrowers entire stock of raw materials, semi finished and finished
goods, consumables, stores and spares, book debts bills, outstanding monies,
receivables, movable plant and machinery, machinery spares, tools and
accessories etc, more particularly described in the schedule forming part of
the Supplemental Deed of Hypothecation dated January 02, 2013 which is
attached hereto, during the currency of the working capital facilities
granted to the company, both present and future. |
|
Short particulars
of the property charged |
Pari passu first
charge on borrowers entire stocks of raw materials, semi finished and
finished goods, consumables stores and spares , book debts, bills , outstanding
monies, receivables movable plant and machineries, machinery spares, tools
and accessories etc., both present and future, situated at its factory at
Jindal Nagar, Tumkur road, Bangalore 560073 wherever else the same may be or
held by any party to the order or disposition of the Borrower, more
particularly described in the schedule forming part of the Supplemental Deed
of Hypothecation dated January 02, 2013. |
|
Date of
Modification |
24.12.2012 |
|
Particulars of
the present modification |
IDBI Bank
Limited's enhanced working capital facilities of Rs.500.000 Millions together
with interest, additional interest, liquidated damages, premia on repayment
or on redemption, cost, charges, expenses and all other monies payable by the
borrower to IDBI, is secured by Pari Passu first charge on borrowers entire
current assets of the company, both present and future. |
Fixed assEtes:
Ø Land
Ø Leasehold Land
Ø Buildings
Ø Road
Ø Factory Shed and Building
Ø Plant and Machinery
Ø Furniture and Fittings
Ø Office And Other Equipments
Ø Vehicles
Ø Electric Elevator
Ø Data Processing Equipment
Ø Solar Water Heating System
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 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. 54.71 |
|
|
1 |
Rs. 82.79 |
|
Euro |
1 |
Rs. 71.43 |
INFORMATION DETAILS
|
Report Prepared by
: |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
61 |
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.