MIRA
INFORM REPORT
|
Report Date : |
12.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
Sangam Forgings PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
28, Industrial Estate, Tedesara, Rajnandgaon -
491441, Chhattisgarh |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
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|
|
Date of
Incorporation : |
30.01.1980 |
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Com. Reg. No.: |
001592 |
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|
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Capital
Investment / Paid-up Capital : |
Rs.13.600 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28910CT1980PTC001592 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
Line of Business
: |
Exporter, supplier and manufacturer of open die forging,
forging components, heavy forging components, forging shafts, flanges, rolling
mill rolls, etc. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 111080 |
|
|
|
|
Status : |
Moderate |
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|
|
Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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|
Comments : |
Subject is an established company having moderate track. There appears
some dip in the turnover and profitability of the company. The company has
also recorded huge external borrowing. However, trade relations are reported
as fair. Business is active. Payments are reported to be slow but correct. The company can be considered for business dealings with some caution. |
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) |
|
India |
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
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.
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRICIL |
|
Rating |
BB – (Long Term Rating) |
|
Rating Explanation |
Moderate Risk of Default |
|
|
|
|
Rating |
A4+ |
|
Rating Explanation |
Minimal Degree of Safety. It Carry high Credit Risk. |
|
Date |
05.04.2012 |
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 : |
28, Industrial Estate, Tedesara, Rajnandgaon -
491441, Chhattisgarh, India |
|
Tel. No.: |
91-788-4017007 |
|
Fax No.: |
91-788-2382033 |
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E-Mail : |
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|
|
|
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Branch Office: |
No-32, Shivnath Complex, G.E. Road, Supela, Bhilai - 490023, Chhattisgarh, India |
|
Tel. No.: |
91-788-2285664 |
|
Fax No.: |
91-788-2285664 |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Shailesh A Shah |
|
Designation : |
Director |
|
Address : |
68-8, Nehru Nagar, Bhilai Durg, Chhatisgarh – 490020, India |
|
Date of Birth/Age : |
30.09.1963 |
|
Date of Appointment : |
20.10.2007 |
|
DIN No.: |
00081220 |
|
|
|
|
Name : |
Mr. Ketan M Shah |
|
Designation : |
Director |
|
Address : |
A-5, Surya Vihar Junwani Road, Chhatisgarh – 490020, India |
|
Date of Birth/Age : |
02.02.1966 |
|
Date of Appointment : |
20.10.2007 |
|
DIN No.: |
00312343 |
|
|
|
|
Name : |
Mr. Arvind S Shah |
|
Designation : |
Director |
|
Address : |
Simplex Colony Malviya Nagar, G E Road, Durg, Chhatisgarh – 490020,
India |
|
Date of Birth/Age : |
02.02.1941 |
|
Date of Appointment : |
01.10.2009 |
|
DIN No.: |
00081195 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Arvind S Shah |
|
3603 |
|
Prabha S Shah |
|
20850 |
|
Shamji Arvind Shah HUF |
|
3750 |
|
Shailesh A Shah |
|
18450 |
|
Ketan M Shah |
|
44150 |
|
Amrit Arvind Shah |
|
41570 |
|
Aditya Shailesh Shah |
|
630 |
|
Moolchand R Shah HUF |
|
2000 |
|
Prabha Plantation Private Limited, Mumbai |
|
1000 |
|
Total |
|
136003 |
AS ON 29.09.2012
|
Category |
Percentage |
|
Bodies corporate |
0.74 |
|
Directors or relatives of Directors |
99.26 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Exporter, supplier and manufacturer of open die forging, forging
components, heavy forging components, forging shafts, flanges, rolling mill
rolls, etc. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
Sector 1 Branch, Bhilai - 490001, Chhattisgarh, India |
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Facilities : |
Term loan- I from UCO Bank is secured by a first charge
on the immovable and movable property comprising of land and building, plant
and machinery and other fixed assets of the company at Tedesera, Rajnandgaon
(C.G.). The loan has been guaranteed by directors of the company. It is
repayable In 60 monthly installments commencing from July, 2008. Term Loan from UCO Bank is secured by a first charge on the immovable and movable property comprising of land and building, plant and machinery and other fixed assets of the company at Tedesera, Rajnandgaon (C.G.). The loan has been guaranteed by directors of the company. It is repayable in 36 monthly installments commencing from January, 2012. |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
Chartered Accountant |
|
Address : |
|
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Associates/Subsidiaries : |
NA |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2000000 |
Equity Shares |
Rs.100/- |
Rs.200.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
136003 |
Equity Shares |
Rs.100/- |
Rs.13.600 Millions |
|
|
|
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|
The Company has only one
class of equity shares having a par value of Rs. 100 per share. Each
shareholder is eligible for one vote per share. The dividend proposed by the
Board of Directors is subject to the approval of shareholders, except in case
of interim dividend. In the event of Liquidation, the equity shareholders are
eligible to receive the remaining assets of the Company, after distribution of
all preferential amounts, in proportion of their shareholding.
Details of shares held by
shareholders holding more than 5% of the aggregate shares in the company
|
|
31.03.2012 |
31.03.2011 |
||
|
Nume of the Shareholder |
No. of Shares held |
% of Holding |
No. of Shares held |
% of Holding |
|
Prabha M.
Shah |
20850 |
15.33 |
20850 |
15.33 |
|
Shailesh
A, Shah |
18450 |
13.57 |
18450 |
13.57 |
|
Ketan M.
Shah |
44150 |
32.46 |
44150 |
32.46 |
|
Amrit
arvind Shah |
41570 |
30.57 |
41570 |
30.57 |
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 |
13.600 |
13.600 |
13.600 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
14.170 |
11.887 |
8.447 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
27.770 |
25.487 |
22.047 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
56.409 |
45.558 |
59.519 |
|
|
2] Unsecured Loans |
45.068 |
42.409 |
42.051 |
|
|
TOTAL BORROWING |
101.477 |
87.967 |
101.570 |
|
|
DEFERRED TAX LIABILITIES |
1.331 |
1.297 |
1.714 |
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|
|
|
|
|
|
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TOTAL |
130.578 |
114.751 |
125.331 |
|
|
|
|
|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
63.791 |
65.919 |
68.170 |
|
|
Capital work-in-progress |
1.485 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
54.232
|
47.400 |
46.590 |
|
|
Sundry Debtors |
48.290
|
42.917 |
62.589 |
|
|
Cash & Bank Balances |
0.585
|
0.938 |
0.085 |
|
|
Other Current Assets |
2.275
|
1.550 |
0.000 |
|
|
Loans & Advances |
19.874
|
21.773 |
14.948 |
|
Total
Current Assets |
125.256
|
114.578 |
124.212 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
42.198
|
47.712 |
53.201 |
|
|
Other Current Liabilities |
14.474
|
12.981 |
12.997 |
|
|
Provisions |
3.282
|
5.053 |
0.906 |
|
Total
Current Liabilities |
59.954
|
65.746 |
67.104 |
|
|
Net Current Assets |
65.302
|
48.832 |
57.108 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.053 |
|
|
|
|
|
|
|
|
TOTAL |
130.578 |
114.751 |
125.331 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
172.964 |
234.377 |
|
|
|
|
Other Income |
20.415 |
3.201 |
|
|
|
|
TOTAL (A) |
193.379 |
237.578 |
183.122 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Material Consumed |
124.019 |
162.282 |
|
|
|
|
Changes in inventories of finished goods, Work in Process and Stock in
Trade |
(1.006) |
1.383 |
|
|
|
|
Employee Benefit Expenses |
12.906 |
9.525 |
|
|
|
|
Other Expenses |
30.350 |
35.466 |
|
|
|
|
TOTAL (B) |
166.269 |
208.656 |
179.683 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
27.110 |
28.922 |
|
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
14.209 |
13.233 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
12.901 |
15.689 |
|
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
8.744 |
8.909 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
4.157 |
6.780 |
3.439 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
1.874 |
1.759 |
0.845 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
2.283 |
5.021 |
2.594 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
16.78 |
36.92 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.18
|
2.11 |
1.42 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.40
|
2.89 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.19
|
3.75 |
1.79 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15
|
0.26 |
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Debt/Networth) |
|
3.65
|
3.45 |
4.60 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.09
|
1.74 |
1.85 |
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 |
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 |
No |
|
16] |
Details of sister
concerns |
No |
|
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 |
No |
|
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 |
CONTINGENT LIABILITIES
1.
Contingent
Liabilities: The appeal in respect of liability towards contribution to
provident fund is pending before the relevant authority. In this respect the company
has made payment of Rs.4.648 Millions which has been shown as deposit.
2.
Penalties
for late deliveries/liquidated damages in respect of contracts are accounted
for if and when claims are received and accepted. Aggregate amount of possible
claims as at the year end is not ascertained.
3.
Sales
Include sale of scraps and surplus raw-materials. Sales of goods and job work
receipts are exclusive of excise duty and Sales Tax.
4.
Entry
Tax Rs.0.476 Million, Central Sales Tax Rs.0.654 Million and VAT Rs.0.63 Millions
are arrears, as at 31st March, 2012 for a period of
more than six month from the date it became payable.
5.
In
the opinion of the Board, the
Current Assets, Loans and Advances are approximately of the
value stated if realized in the ordinary course of business. The provisions for
depreciation and all known liabilities are adequate and not in excess of amount
considered reasonably necessary.
6.
The
company has not received intimation from vendors regarding their status under
the Micro, Small and Medium Enterprises Development Act, 2006.
Accordingly disclosures relating to their outstanding amount and interest have
not been given.
7.
Balances
of parties are subject to
confirmation and reconciliation, if any.
8.
Previous
year's figures have been re-arranged and/or re-grouped wherever necessary.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U28910CT1980PTC001592 |
|
Name of the
company |
SANGAM FORGINGS
PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
28, Industrial
Estate, Tedesara, Rajnandgaon – 491441, Chhattisgarh, India |
|
This form is for |
Modification
of charge |
|
Type of charge |
Immovable
property Book debts Movable property
(not being pledge) Floating charge |
|
Particular of
charge holder |
UCO BANK |
|
Nature of
instrument creating charge |
1. Recital For
Deposit Of Title Deeds. 2. Agreement
Relating To Term Loan. 3. Deed Of
Hypothecation Of Movable Plant And Machinery To Secure A Term Loan. 4. Form Of
Supplemental Deed Of Hypothecation Of Goods For Increase In Limit/Facility
Without Additional Property As Security. |
|
Date of
instrument Creating the charge |
20/09/2011 |
|
Amount secured by
the charge |
Rs.134.200
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Term Loan - 5.25%
Above Uco Bank's Base Rate At Present 10.75% P.A., Subject To Minimum Of 16%
P.A. C C - Bank's Plr
+ 0.5% Present 12.75% Non Fund Based
Limit - As Per Applicable Banking Guidelines. Terms of
Repayment Cash Credit - On
Demand. Term Loan -
Repayment In Thirty Six Monthly Installments W.E.F. January, 2012. Margin Term Loan - 26.4% Cash Credit - 20%
On Stock & 30% On Debts Lc and Bg - 10% |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Equitable
Mortgage On All Immovable Properties Of The Company Situated At Village
Tedesara, Dist - Rajnandgaon (Chattisgarh). First Charge On All And Singular Movable Plant and
Machinery, Equipments, Implements And Appliances And Lying Upon The Factory
Of The Borrower At Village Tedesara, Rajnandgaon. All Stocks Of Raw
Materials, Finished Goods,Sip, Stores and Spares And Movable Property Of
Anykind Whatsoever Whether Present Or Future Stored Or About To Be Stored In
Borrower's Premises Or Gowdown. Book Debts Of The
Company. |
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Crane
·
Tools and Tackles
·
Telephone
·
Office Furniture
·
Car
·
Vehicles
·
Computer
·
Generator
·
Tata Sumo Spacio Sold
·
Office Equipment
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.54.29 |
|
|
1 |
Rs.81.09 |
|
Euro |
1 |
Rs.70.61 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
30 |
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.