MIRA INFORM REPORT
|
Report Date : |
15.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
SUCHI FASTENERS PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
NANDKARNL METASINT PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
A-60/220, Azad Nagarveera Desai Road, Andheri (West),
Mumbai – 400053, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of Incorporation
: |
02.08.1971 |
|
|
|
|
Com. Reg. No.: |
015262 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.19.416 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U34300MH1971PTC015262 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Aluminium, Brass, Copper, Silicon Bronze
and Stainless Steel Washers. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 110000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
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|
Litigation : |
Clear |
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|
Comments : |
Subject is an established company having moderate track record. The
company has incurred a loss in the current year. However, trade relations are
reported as fair. Business is active. Payments are reported to be slow. 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.
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 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DECLINED BY
|
Name : |
Mr. Chirag |
|
Designation : |
Accountant |
|
Contact No.: |
91-9377552020 |
|
Date : |
13.03.2013 |
LOCATIONS
|
Registered Office : |
A-60/220, Azad Nagarveera Desai Road, Andheri (West),
Mumbai – 400053, Maharashtra, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9377552020 (Mr. Chirag) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
K-1, 16/17, GIDC Estate, Dabhol – 391170, Gujarat, India |
|
Tel. No.: |
91-2663-325353 / 329933 |
|
Fax No.: |
91-2663-254444 |
|
E-Mail : |
DIRECTORS
As on 28.09.2012
|
Name : |
Mr. Maulik Chandraketu Mehta |
|
Designation : |
Director |
|
Address : |
604, Indraprastha, Opposite Ellorapark Market, Ellora Park, Baroda –
390007, Gujarat, India |
|
Date of Birth/Age : |
04.07.1965 |
|
Date of Appointment : |
27.11.2010 |
|
DIN No.: |
00010848 |
|
|
|
|
Name : |
Mr. Gurusharan Jethalal Brahmbhatt |
|
Designation : |
Director |
|
Address : |
A-1, Dayal Park B/4, Utkarsh Vidhyalaya Race Course, Gadapura, Baroda
– 390015, Gujarat, India |
|
Date of Birth/Age : |
08.04.1951 |
|
Date of Appointment : |
15.02.2005 |
|
DIN No.: |
00114911 |
|
|
|
|
Name : |
Mr. Chirag Surendra Shah |
|
Designation : |
Director |
|
Address : |
A 601- 602, Spring Exotica, Near Navrachna University, Bhayli Road,
Vadodara – 390009, Gujarat, India |
|
Date of Birth/Age : |
26.12.1971 |
|
Date of Appointment : |
15.02.2005 |
|
DIN No.: |
00114969 |
|
|
|
|
Name : |
Mr. Surendra Chandulal Shah |
|
Designation : |
Managing Director |
|
Address : |
A 601- 602, Spring Exotica, Near Navrachna University, Bhayli Road,
Vadodara – 390009, Gujarat, India |
|
Date of Birth/Age : |
01.09.1936 |
|
Date of Appointment : |
26.04.1979 |
|
DIN No.: |
00906348 |
|
|
|
|
Name : |
Mr. Mukesh Shantilal Dalal |
|
Designation : |
Director |
|
Address : |
B – 1, Aksharvan Society, Gidc Road, Manjalpur, Vadodara – 390010,
Gujarat, India |
|
Date of Birth/Age : |
15.07.1953 |
|
Date of Appointment : |
27.11.2010 |
|
DIN No.: |
03354295 |
KEY EXECUTIVES
|
Name : |
Mr. Chirag |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.09.2012
SHAREHOLDING DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on 28.09.2012
|
Category |
|
Percentage |
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
0.97 |
|
Bodies corporate |
|
67.80 |
|
Directors or relatives of directors |
|
31.23 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Aluminium, Brass, Copper, Silicon Bronze
and Stainless Steel Washers. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
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Bankers : |
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Facilities : |
(Rs.
In Millions)
Notes:
|
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Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Amin Parikh and Company Chartered Accountants |
|
Address : |
IInd Floor, 'Parvati Sadan', Prof. Manekraoji Road, Dandia Bazar,
Vadodara – 390001, Gujarat, India |
|
Tel. No.: |
91-265-2350746 / 2350747 |
|
E-Mail : |
|
|
PAN No.: |
AADFA8543R |
CAPITAL STRUCTURE
As on 28.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2483300 |
Equity Shares |
Rs.10/- each |
Rs.24.833
Millions |
|
|
|
|
|
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1941600 |
Equity Shares |
Rs.10/- each |
Rs.19.416
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 |
19.416 |
18.216 |
18.216 |
|
|
2] Share Application Money |
0.325 |
0.036 |
0.036 |
|
|
3] Reserves & Surplus |
8.966 |
48.056 |
47.962 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
28.707 |
66.308 |
66.214 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
89.393 |
85.549 |
108.459 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
5.683 |
|
|
TOTAL BORROWING |
89.393 |
85.549 |
114.142 |
|
|
DEFERRED TAX LIABILITIES |
0.800 |
0.776 |
0.666 |
|
|
|
|
|
|
|
|
TOTAL |
118.900 |
152.633 |
181.022 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
60.532 |
60.176 |
55.588 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.207 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
114.618
|
117.088 |
120.680 |
|
|
Sundry Debtors |
13.325
|
12.369 |
15.588 |
|
|
Cash & Bank Balances |
10.345
|
30.155 |
39.528 |
|
|
Other Current Assets |
5.631
|
5.830 |
4.010 |
|
|
Loans & Advances |
4.916
|
4.234 |
18.297 |
|
Total
Current Assets |
148.835
|
169.676 |
198.103 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
44.428 |
47.832 |
47.352 |
|
|
Other Current Liabilities |
41.486
|
26.175 |
8.591 |
|
|
Provisions |
4.553
|
3.212 |
16.933 |
|
Total
Current Liabilities |
90.467
|
77.219 |
72.876 |
|
|
Net Current Assets |
58.368
|
92.457 |
125.227 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
118.900 |
152.633 |
181.022 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
452.624 |
360.629 |
259.226 |
|
|
|
Other Income |
2.761 |
5.086 |
4.059 |
|
|
|
TOTAL (A) |
455.385 |
365.715 |
263.285 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Raw Material Consumed |
396.187 |
279.632 |
|
|
|
|
(Increase) / Decrease in Inventories
|
(7.420) |
(4.775) |
|
|
|
|
Employee Benefits Expenses |
27.747 |
21.914 |
|
|
|
|
Other Expenses |
50.119 |
41.107 |
|
|
|
|
TOTAL (B) |
466.633 |
337.878 |
252.958 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(11.248) |
27.837 |
10.327 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
22.226 |
18.570 |
12.705 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(33.474) |
9.267 |
(2.378) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
7.991 |
7.710 |
3.587 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
(41.465) |
1.557 |
(5.965) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.025 |
1.463 |
1.264 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
(41.490) |
0.094 |
(7.229) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
310.698 |
256.150 |
NA |
|
|
TOTAL EARNINGS |
310.698 |
256.150 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
375.488 |
277.187 |
NA |
|
|
TOTAL IMPORTS |
375.488 |
277.187 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(21.37) |
0.05 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(9.11) |
0.03 |
(2.75) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(9.16) |
0.43 |
(2.30) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(19.80) |
0.68 |
(2.35) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(1.44) |
0.02 |
(0.09) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
3.11 |
1.29 |
1.72 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.65 |
2.20 |
2.72 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
(Rs.
In Millions)
|
Particulars
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Sundry
Creditors |
|
|
|
|
For Raw Materials |
26.639 |
37.827 |
|
|
For Others |
17.789 |
10.005 |
|
|
Total |
44.428 |
47.832 |
47.352 |
|
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 |
Yes |
|
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 |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity number of the company |
U34300MH1971PTC015262 |
|
Name of the company |
SUCHI FASTENERS PRIVATE LIMITED |
|
Address of the registered office or of the principal place of business in India of the company |
A-60/220, Azad Nagarveera Desai Road, Andheri (West), Mumbai – 400053, Maharashtra, India E-Mail Id : accounts@suchifasteners.com |
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
10065701 |
|
Type of charge |
Book debts Movable property (not being pledge) Floating charge |
|
Particular of charge holder |
State Bank of India, Specialized Commercial Branch, 2nd Floor Trident Complex, Near Race Course Circle, Vadodara - 390007, Gujarat, India E-mail Id : girijesh.kumar3@sbi.co.in |
|
Nature of instrument creating charge |
Supplemental Agreement of Loan-cum-Hypothecation dated 06.03.2012. |
|
Date of instrument Creating the charge |
06.03.2012 |
|
Amount secured by the charge |
Rs.215.200 Millions |
|
Brief of the principal terms an conditions and extent and operation of the charge |
Rate of Interest CC: 6.75% above BR present effective 16.75% p.a WC Term Loan: 6.75% above BR present effective 16.75% p.a EPC: 1.75% above BR present effective 11.75%p.a TL: 7.25% above BR present effective 17.25%p.a Terms of Repayment CC: On Demand WCTL: to be paid in three years including moratorium period of 3 months. TL: As per existing arrangement. Margin RM: 10% Stocks in Process: 10% Finished Goods: 10% Scraps: 20% Receivables(cover - 120 days): 10% Letter of Credit: 10% Bank Guarantee: 10% Extent and Operation of the charge First Charge by way of extension of Hypothecation of movable properties for the repayment to the bank of all monies including the principal sums, interest, cost, charges, expenses and other monies payable from time to time and that all rights, remedies, terms, conditions to be observed by the company for the total facility of Rs. 215.200 Millions |
|
Short particulars of the property or asset(s) charged (including complete address and location of the property) |
Stocks of raw materials , stocks in process, Semi finished and finished goods, stores, spares, consumable and packaging materials at 16/5, GIDC, Dabhoi District Vadodara or at any other place. Movable assets, plant and machineries at 16/5, GIDC, Dabhoi District Vadodara or at any other place. Book debts, receivables, outstanding monies, claims etc |
|
Date of instrument modifying the charge |
13.10.2011 |
|
Particulars of the present modification |
In view of restructuring of existing credit facilities, the charge is modified from Rs.210.200 Millions to Rs.215.200 Millions in favour of the bank. |
FIXED ASSETS:
- Factory Shed
- Office
Premises
- Land
- Factory
Building
- Furniture and
Fixtures
- Electrical
Installation
- Vehicles
- Office
Equipments
- Computer
- Borewell
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.54.44 |
|
|
1 |
Rs.81.33 |
|
Euro |
1 |
Rs.70.50 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
BSN |
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 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
28 |
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.