MIRA INFORM REPORT
|
Report Date : |
22.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
SHAPOORJI PALLONJI INFRASTRUCTURE CAPITAL COMPANY LIMITED |
|
|
|
|
Registered
Office : |
70, Nagindas, Master Road, Fort, Mumbai-400023, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 (Profit and Loss) |
|
|
|
|
Date of
Incorporation : |
09.06.1997 |
|
|
|
|
Com. Reg. No.: |
108596 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 3133.100 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U65990MH1997PLC108596 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCS4370B |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the business of setting up various infrastructure projects under various sectors like roads, power mines and port. |
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|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 12200000 |
|
|
|
|
Status : |
Good |
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|
|
|
Payment Behaviour : |
Regular |
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|
|
|
Litigation : |
Clear |
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|
|
Comments : |
Subject is a 100% subsidiary of Shapoorji Pallonji and Company Limited
(SPCL) which is the infrastructure holding company of the SP group. It is one
of India’s leading construction companies. Subject is a well-established and a reputed company having a fine
track record. It is engaged in the setting up of various infrastructure
projects under various sector like roads, power mines and port. It has achieved better growth in its income during 2012, It receives
better operational and financial support from its parent company and group. Trade relations are reported as trustworthy. Business is active.
Payment terms are regular and as per commitment. The company can be considered good for 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) |
|
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 |
CRISIL |
|
Rating |
Commercial Paper Programme: A1+ |
|
Rating Explanation |
Very strong degree of safety and lowest credit risk. |
|
Date |
August, 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 : |
70, Nagindas, Master Road, Fort, Mumbai-400023, Maharashtra, India |
|
Tel. No.: |
91-22-67490466 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
|
|
|
Corporate Office : |
SP Centre, 41/44, Minoo Desai Marg, Colaba, Mumbai-400005,
Maharashtra, India |
|
Tel. No.: |
91-22-67490000 |
|
Fax No.: |
91-22-66338176 |
DIRECTORS
As on 27.09.2012
|
Name : |
Mr. Shapoor Pallonji Mistry |
|
Designation : |
Director |
|
Address : |
Sterling Bay, 103 Walkeshwar Road,Walkeshwar, Mumbai- 400006, Maharashtra, India |
|
Date of Birth/Age : |
06.09.1964 |
|
Qualification : |
BE |
|
Date of Appointment : |
06.11.1997 |
|
DIN No.: |
00010114 |
|
|
|
|
Name : |
Mr. Mukundan Srinivasan |
|
Designation : |
Managing director |
|
Address : |
B1404 A And B Florentine Co-operative Housing Society, Hiranandani Gardens Powai, Mumbai-400076, Maharashtra, India |
|
Date of Birth/Age : |
29.10.1956 |
|
Qualification : |
BE, MFM |
|
Date of Appointment : |
12.06.2009 |
|
DIN No.: |
00276429 |
|
|
|
|
Name : |
Mr. Mohan Salamatrai Hingorani |
|
Designation : |
Director |
|
Address : |
601 Ram Laxmi Niwas, 16th Road, Plot 527A, Khar (West), Mumbai-400052, Maharashtra, India |
|
Date of Birth/Age : |
19.06.1937 |
|
Qualification : |
BE |
|
Date of Appointment : |
28.03.2007 |
|
DIN No.: |
00021284 |
|
|
|
|
Name : |
Mr. Mohan Dass Saini |
|
Designation : |
Additional director |
|
Address : |
502, Crescent Height, Off Forjet, St, Opposite Bhatia hospital, Tardeo, Mumbai-400034, Maharashtra, India |
|
Date of Birth/Age : |
04.08.1954 |
|
Date of Appointment : |
20.06.2012 |
|
DIN No.: |
05260237 |
|
|
|
|
Name : |
Mr. Jai Laxmikant Mavani |
|
Designation : |
Additional director |
|
Address : |
G- 401, Royal Classic, Next to Fame Adlabs, New Link Road, Andheri (West) Mumbai-400058, Maharashtra, India |
|
Date of Birth/Age : |
04.09.1971 |
|
Date of Appointment : |
20.06.2012 |
|
DIN No.: |
05260191 |
|
|
|
|
Name : |
Mr. Rajesh Premchand Agarwal |
|
Designation : |
Additional director |
|
Address : |
2402, Lodha Grandeur building, Opposite Parel Station Depot, Mumbai -400025, Maharashtra, India |
|
Date of Birth/Age : |
07.12.1969 |
|
Date of Appointment : |
20.06.2012 |
|
DIN No.: |
01176688 |
|
|
|
|
Name : |
Umesh Narain Khanna |
|
Designation : |
Additional director |
|
Address : |
A-67, Takshila Apartments, 57 IP Extension, Delhi-110092, India |
|
Date of Birth/Age : |
08.07.1957 |
|
Date of Appointment : |
20.06.2012 |
|
DIN No.: |
03634361 |
|
|
|
|
Name : |
Mr. Rajeev Aggarwal |
|
Designation : |
Additional director |
|
Address : |
S-52. South Anarkali, Krishna Nagar, Delhi-110051, India |
|
Date of Birth/Age : |
30.06.1965 |
|
Date of Appointment : |
20.06.2012 |
|
DIN No.: |
02907716 |
|
|
|
|
Name : |
Mr. Kuppuswamy Subramania |
|
Designation : |
Director |
|
Address : |
52, Praneet 234, J. Palkar Road, Worli, Mumbai-400025, Maharashtra, India |
|
Date of Birth/Age : |
17.09.1950 |
|
Qualification : |
MBA |
|
Date of Appointment : |
28.03.2007 |
|
DIN No.: |
00058836 |
KEY EXECUTIVES
|
Name : |
Mr. Yashesh Pankaj Bhatt |
|
Designation : |
Secretary |
|
Address : |
403, Tirupati Appartments, Akurli Cross Road No Kandivali (East), Mumbai- 400101, Maharashtra, India |
|
Date of Birth/Age : |
29.7.1982 |
|
Date of Appointment : |
01.10.2010 |
|
PAN No.: |
AFLPB5264R |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 27.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Shapoorji Pallonji and Company Limited, India |
|
366109940 |
|
Mukundan Srinvasan Jointly with Shapoorji Pallonji and Company Limited |
|
10 |
|
Mahesh Tahilyani jointly with Shapoorji Pallonji and Company Limited |
|
10 |
|
F.K. Bhathena jointly with Shapoorji Pallonji and Company Limited |
|
10 |
|
Jimmy Jehnagir Parakh jointly with Shapoorji Pallonji and Company Limited |
|
10 |
|
Roshen M. Nentin jointly with Shapoorji Pallonji and Company Limited |
|
10 |
|
Adil Khambata jointly with Shapoorji Pallonji and Company Limited |
|
10 |
|
Total |
|
366110000 |
Equity Share Break up (Percentage of Total Equity)
As on 27.09.2012
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of setting up various infrastructure projects under various sectors like roads, power mines and port. |
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Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
Not Available |
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|
|
|
|
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Banking
Relations : |
-- |
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|
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|
Auditors : (As on 31.03.2011) |
|
|
Name : |
Kalyaniwalla and Mistry Chartered Accountants |
|
Address : |
Kalpatru Heritage,127 Mahatma Gandhi Road, Mumbai-400001, Maharashtra, India |
|
PAN No.: |
AAAFK7554R |
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|
|
|
Holding Company : (As on 31.03.2011) |
Shapoorji Pallonji and amp; Company Limited |
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|
Subsidiaries : (As on 31.03.2011) |
CIN No.: U51900MH1986PLC038746
CIN No.: U45209MH1987PTC043785
CIN No.: U65993MH1998PTC113592
CIN No.: U45201GJ2008PTC054483
CIN No.: U40102MH1999PTC218729
CIN No.: U40100GJ2008PTC054923
CIN No.: U26941GJ2008PTC054061
CIN No.: U45201GJ2008PTC054063
CIN No.: U45209GJ2008PTC054828
CIN No.: U45203MH2010PTC202625
CIN No.: U40103MH2010PTC202791
CIN No.: U40300MH2010PTC202812
CIN No.: U45400MH2010PTC204065
CIN No.: U40109TN1995PTC033944
|
|
|
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Fellow Subsidiaries
: (As on 31.03.2011) |
|
|
|
|
|
Associate : (As on 31.03.2011) |
Trichy Tollway Private Limited |
CAPITAL STRUCTURE
As on 27.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
399880000 |
Equity Shares |
Rs.10/- each |
Rs. 3998.800 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
366110000 |
Equity Shares |
Rs.10/- each |
Rs. 3661.100 Millions |
|
|
|
|
|
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
400000000 |
Equity Shares |
Rs.10/- each |
Rs. 3998.800 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
313310000 |
Equity Shares |
Rs.10/- each |
Rs. 3133.100 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
3133.100 |
196.100 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
34.875 |
34.875 |
|
|
4] (Accumulated Losses) |
|
(116.295) |
(18.389) |
|
|
NETWORTH |
|
3051.680 |
212.586 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.000 |
0.000 |
|
|
2] Unsecured Loans |
|
503.500 |
719.096 |
|
|
TOTAL BORROWING |
|
503.500 |
719.096 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
Other Liabilities |
|
0.053 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
3555.233 |
931.682 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
3.700 |
0.261 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
1300.891 |
934.166 |
|
|
DEFERRED TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
0.000 |
0.000 |
|
|
Sundry Debtors |
|
0.000 |
0.000 |
|
|
Cash & Bank Balances |
|
1.822 |
0.327 |
|
|
Other Current Assets |
|
0.000 |
0.000 |
|
|
Loans & Advances |
|
2252.459 |
0.248 |
|
Total
Current Assets |
|
2254.281 |
0.575 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
0.119 |
0.064 |
|
|
Other Current Liabilities |
|
3.520 |
3.301 |
|
|
Provisions |
|
0.000 |
0.000 |
|
Total
Current Liabilities |
|
3.639 |
3.365 |
|
|
Net Current Assets |
|
2250.642 |
(2.790) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.045 |
|
|
|
|
|
|
|
|
TOTAL |
|
3555.233 |
931.682 |
|
Note: Balance Sheet for the year 2012 is not available, only profit and
Loss is available.
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
333.646 |
0.000 |
0.000 |
|
|
|
Other Income |
46.537 |
10.049 |
43.136 |
|
|
|
TOTAL (A) |
380.183 |
10.049 |
43.136 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employee benefit expense |
51.245 |
12.526 |
|
|
|
|
Other expenses |
147.624 |
29.468 |
|
|
|
|
TOTAL (B) |
198.869 |
41.994 |
78.751 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
181.314 |
(31.945) |
(35.615) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
70.359 |
65.547 |
88.556 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
110.955 |
(97.492) |
(52.941) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
1.885 |
0.316 |
0.091 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
109.070 |
(97.808) |
(53.032) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
22.509 |
(0.098) |
(0.992) |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
86.561 |
(97.906) |
(52.040) |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
|
|
|
|
|
|
Basic |
NA |
(0.31) |
(2.65) |
|
|
|
Diluted |
0.23 |
(4.80) |
(2.65) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
22.77
|
(974.29) |
(120.64) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
32.69
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
(4.33) |
(6343.54) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
(0.03) |
(2.49) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
NA
|
0.16 |
3.38 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
NA
|
619.48 |
0.17 |
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 |
No |
|
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 |
UNSECURED LOAN
|
Unsecured Loan |
31.03.2011 (Rs.
in Millions) |
31.03.2010 (Rs.
In Millions) |
|
Rupee term loans financial institutions unsecured |
480.000 |
480.000 |
|
Working capital loans others unsecured |
23.500 |
237.100 |
|
Interest accrued due other debt unsecured |
0.000 |
1.996 |
|
Total |
503.500 |
719.096 |
FIXED ASSETS
- Land
- Building
- Plant machinery
- Computer equipments
- Vehicles
- Ships vessels
- Aircrafts helicopters
- Livestock
- Railway sidings
- Plantations
- Books periodicals
- Mines quarries
- Computer software
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.54.28 |
|
|
1 |
Rs.82.06 |
|
Euro |
1 |
Rs.72.23 |
INFORMATION DETAILS
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
54 |
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.