MIRA INFORM REPORT
|
Report Date : |
28.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
REXELLO CASTORS PRIVATE LIMITED |
|
|
|
|
Registered Office
: |
23-D, Mahal Industrial Estate, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
12.09.1980 |
|
|
|
|
Com. Reg. No.: |
11-023111 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.150 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U36109MH1980PTC023111 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMR16660A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCR1775R |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturers of Castor wheels, Trolley wheels, Trolleys and other
Industrial Wheels. |
|
|
|
|
No. of Employees
: |
180 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 200000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow But Correct |
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|
|
|
Litigation : |
Clear |
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|
|
Comments : |
Subject is an established company having a satisfactory track record.
There appears dip in profitability and sales during the current year. However, the net worth of the company appears to be strong. Trade
relations are reported to be fair. Business is active. Payments are reported
to be slow but correct. The company can be considered for business dealings at usual trade
terms and condition. |
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 |
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 PARTED BY
|
Name : |
Mrs. Yasin Reza Amirali Merchant |
|
Designation : |
Director |
|
Contact No.: |
91-22-40917777 |
|
Date : |
07.03.2013 |
LOCATIONS
|
Registered Office : |
23-D, Mahal Industrial Estate, |
|
Tel. No.: |
91-22-40917777 / 26873625 / 26874456 / 66921721 |
|
Fax No.: |
91-22-26873580/26874639 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Head Office : |
460, |
|
|
|
|
Corporate Office : |
Navsonarbala, |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Amirali Mohamedali Merchant |
|
Designation : |
Director |
|
Address : |
460, Rexello House, |
|
Date of Birth/Age : |
25.11.1931 |
|
Date of Appointment : |
12.09.1980 |
|
DIN No.: |
00542791 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U36109MH1980PTC023111 |
REXELLO
CASTORS PRIVATE LIMITED |
Director |
12/09/1980 |
12/09/1980 |
Active |
NO |
|
2 |
U34300MH1989PTC053508 |
REXELLO
ENGINEERING PRODUCTS PRIVATE LIMITED |
Director |
15/09/1989 |
15/09/1989 |
Active |
NO |
|
Name : |
Mrs. Yasin Reza Amirali Merchant |
|
Designation : |
Director |
|
Address : |
460, Rexello House, |
|
Date of Birth/Age : |
17.12.1966 |
|
Date of Appointment : |
01.04.1997 |
|
DIN No.: |
00542884 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U28129MH1984PTC033247 |
REX ARTS
CASTORS PRIVATE LIMITED |
Director |
23/06/1984 |
23/06/1984 |
Active |
NO |
|
2 |
U34300MH1989PTC053508 |
REXELLO
ENGINEERING PRODUCTS PRIVATE LIMITED |
Director |
15/09/1989 |
15/09/1989 |
Active |
NO |
|
3 |
U36109MH1980PTC023111 |
REXELLO
CASTORS PRIVATE LIMITED |
Director |
01/04/1997 |
01/04/1997 |
Active |
NO |
|
Name : |
Mr. Tanvir Hussein Haiderlai Merchant |
|
Designation : |
Director |
|
Address : |
460, Rexello House, 24th Road, TPS-III, Bandra (West),
Mumbai-400050, Maharashtra, India |
|
Date of Birth/Age : |
29.07.1950 |
|
Date of Appointment : |
01.04.1985 |
|
DIN No.: |
00542929 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U36109MH1980PTC023111 |
REXELLO
CASTORS PRIVATE LIMITED |
Director |
01/04/1985 |
01/04/1985 |
Active |
NO |
|
2 |
U34300MH1989PTC053508 |
REXELLO
ENGINEERING PRODUCTS PRIVATE LIMITED |
Director |
15/09/1989 |
15/09/1989 |
Active |
NO |
|
Name : |
Mrs. Zarina Haiderali Merchant |
|
Designation : |
Director |
|
Address : |
460, Rexello House, 24th Road, TPS-III, Bandra (West),
Mumbai-400050, Maharashtra, India |
|
Date of Birth/Age : |
23.09.1932 |
|
Date of Appointment : |
12.09.1980 |
|
DIN No.: |
00555951 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
No. of Shares |
|
Amirali Mohamedali Merchant |
525 |
|
Zarinabai Haiderali Merchant |
150 |
|
Tanvir Hussein Haiderlai Merchant |
150 |
|
Tehsinabbas Haiderali Merchant |
150 |
|
Raiz Haiderali Merchant |
150 |
|
Munir Haiderali Merchant |
150 |
|
Yasin Reza Amirali Merchant |
225 |
|
TOTAL
|
1500 |
AS ON 29.09.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Directors or relatives of Directors |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers of Castor wheels, Trolley wheels, Trolleys and other
Industrial Wheels. |
|
|
|
|
Products : |
Castors
Wheels
Trolleys
Other products
Non-powered ground support equipment for airports, etc. |
|
|
|
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Exports : |
|
|
Products : |
Zeals, Trolies |
|
Countries : |
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Terms : |
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|
Selling : |
Cash, Credit |
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Purchasing : |
Cash, Credit |
PRODUCTION STATUS (AS ON : 31.03.2011)
|
Particulars |
Unit |
Actual
Production |
|
Toyller Wheels (87169090) |
Nos. |
292727 |
|
Castor Wheels (8302200) |
Nos. |
549357 |
|
Trolley (87168090) |
Nos. |
5022 |
|
Converyor (84289090) |
Nos. |
40383 |
|
Door RNR Treklg (38024110) |
Nos. |
25802 |
|
Solid Rubber Wheel (40169390) |
Nos. |
172 |
|
Moulding P. Wheel (39269099) |
Nos. |
2252 |
|
Bed Pld Trolley (94035010) |
Nos. |
76 |
|
Skipping Ropes (95069990) |
Nos. |
6200 |
GENERAL INFORMATION
|
Customers : |
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No. of Employees : |
180 (Approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
N.S. Virani and Company Chartered Accountants |
|
Address : |
28, |
|
Tel. No.: |
91-22-22624390/30203630 |
|
Fax No.: |
91-22-22658831 |
|
E-Mail : |
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|
PAN.: |
AABPV7421P |
|
|
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|
Related Parties : |
|
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000 |
Equity Shares |
Rs.100/- each |
Rs. 0.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1500 |
Equity Shares |
Rs.100/-
each |
Rs. 0.150
Million |
|
|
|
|
|
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 |
0.150 |
0.150 |
0.150 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
51.641 |
51.040 |
49.479 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
51.791 |
51.190 |
49.629 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
21.654 |
14.017 |
16.584 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
21.654 |
14.017 |
16.584 |
|
|
DEFERRED TAX LIABILITIES |
0.469 |
1.009 |
1.104 |
|
|
|
|
|
|
|
|
TOTAL |
73.914 |
66.216 |
67.317 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
29.937 |
30.019 |
31.760 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
2.727 |
3.636 |
3.575 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
44.347
|
41.383
|
37.643 |
|
|
Sundry Debtors |
17.435
|
14.421
|
13.622 |
|
|
Cash & Bank Balances |
0.719
|
1.305
|
1.419 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
11.151
|
10.984
|
9.844 |
|
Total
Current Assets |
73.652
|
68.093 |
62.528 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
27.022
|
30.227
|
26.640 |
|
|
Other Current Liabilities |
3.400
|
3.179
|
2.636 |
|
|
Provisions |
1.980
|
2.126
|
1.270 |
|
Total
Current Liabilities |
32.402
|
35.532 |
30.546 |
|
|
Net Current Assets |
41.250
|
32.561
|
31.982 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
73.914 |
66.216 |
67.317 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT |
0.322 |
1.543 |
0.554 |
|
|
|
|
|
|
|
|
|
|
TAX |
(0.279) |
1.117 |
0.137 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
1.061 |
0.633 |
|
|
|
|
|
|
|
|
|
|
Deferred Tax
Liabilities |
0.000 |
0.095 |
0.216 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
General Reserve |
0.000 |
0.500 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
0.601 |
1.524 |
0.530 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
68.732 |
80.406 |
82.618 |
|
|
TOTAL EARNINGS |
68.732 |
80.406 |
82.618 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.42
|
0.27 |
0.33
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.27
|
1.92 |
2.05
|
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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
No |
|
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 |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
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 |
FINANCIAL RESULTS
During the year,
the Company has earned a profit of Rs. 0.322 Million and after deduction of Current
tax of Rs. 0.261 Million, and provision for Deferred Tax Liability of Rs.
(0.540 Million), the balance of Rs. 0.601 Million is proposed to be carried
forward to the Balance Sheet.
FORM 8
|
Corporate
identity number of the company |
U36109MH1980PTC023111 |
|
Name of the
company |
REXELLO CASTORS
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
23-D, Mahal Industrial Estate, |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the charge to be modified |
10155123 |
|
Type of charge |
|
|
Particular of
charge holder |
State Bank of India,
R and C Building, Ground Floor, Sir J. J. Road, Mumbai-400008, Maharashtra,
India |
|
Nature of
instrument creating charge |
Letter Of
Arrangement Dated 20th March 2009 |
|
Date of
instrument Creating the charge |
31.03.2012 |
|
Amount secured by
the charge |
Rs. 18.500
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Working capital
INT 1% above SBAR + 12.25 % wef 27/02/20 with minimum of 13.25 % , and w e f
31.3.2012 INT 6.75 % above base rate 10 %
with minimum of 16.75 % pa. Terms of repayment As Per Sanction
Letter Margin For Working
Capital 33.33 % Extent and operation of the charge Fund based
facility of Rs. 18.500 Millions secured by hypothecation of stocks and book debts,
fixed EPOSIT of Rs. 2.939 Millions, of the company. |
|
Short particulars
of the property charged (Including location of the property) |
Fund based
facility of Rs. 18.500 Millions secured by hypothecation of stocks and book
debts, fixed EPOSIT of Rs. 2.939 Millions, of the company. |
|
Date of
instrument modifying the charge |
31.03.2012 |
|
Particulars of
the present modification |
Enhancement In
Working Capital Cash Credit Facilities From Rs. 16.900 To Rs.18.500 Millions,
Working Capital Rs. 18.500 Millions Interest 216.75 % Monthly, and Repayment
of Term Loan of Rs. 3.400 Millions Cancellation of Lien on The Gala No B 21,
Nandbhuvan Industrial Premises, |
FIXED ASSETS
- Plot at Pune
- Land and
Building
- T.D.R.
- Plant and
machinery
- Furniture and
Fixtures
- Office
Equipments
- Vehicles
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. 54.27 |
|
|
1 |
Rs. 82.49 |
|
Euro |
1 |
Rs. 69.88 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
44 |
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.