|
Report Date : |
10.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
AIRO LAM LIMITED |
|
|
|
|
Registered
Office : |
Survey No. 355, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
22.10.2007 |
|
|
|
|
Com. Reg. No.: |
04-052019 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.55.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U20211GJ2007PLC052019 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMA07515E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAGCA6219G |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of High Pressure Decorative Laminates. |
|
|
|
|
No. of Employees
: |
Information denied by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (37) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 431000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. Rating takes into consideration adverse movement in raw material
prices and highly competitive industry. However, company is progressing well. Trade relations are fair. Business is active. Payment terms are 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.
INDIAN ECONOMIC OVERVIEW
We are living in a
world where volatility and uncertainty have become the New Normal. We saw a
change of government in countries like Tunisia, Egypt, Libya and Vietnam. Once
powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve
their business models with the changing time. Readers’ Digest, Thomson Register
are no more !
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years
to double its economic output per person during its industrial revolution and
the US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years
respectively. By 2020, emerging Asia will become the world’s largest consuming
block, overtaking North America.
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial
years of the contagion but finally lost ground last year. GDP growth slowed
down. Currency has been weakening. There is a marked deceleration in agriculture,
industry and services. Dampening sentiment led to a cut-back in investment as
well as private consumption expenditure. Inflation remained at high
levels fuelled by the pressure from the food and fuel sectors. The large fiscal
and current account deficit s continued to cause grave concern. It is
imperative that India regains its growth trajectory of 8-9 % sooner than later.
This is crucially important given the need to create gainful livelihood
opportunities for the millions living in poverty as also the large contingent
of young people joining the job market every year.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Working capital limits B+ |
|
Rating Explanation |
Risk prone credit quality and very high
credit risk. |
|
Date |
December 2012 |
|
Rating Agency Name |
ICRA |
|
Rating |
Non fund based limits A4 |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
December 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.
INFORMATION DENIED BY
|
Name : |
Mr. Bharatbhai Patel |
|
Designation : |
Production Department |
|
Contact No.: |
91-9909954402 |
|
Date : |
09.10.2013 |
LOCATIONS
|
Registered Office : |
Survey No. 355, |
|
Tel. No.: |
91-2770-240572 / 73 |
|
Mobile No. : |
91-9909954402 (Mr. Bharatbhai Patel) |
|
Fax No.: |
91-2770-240574 |
|
E-Mail : |
|
|
Website : |
|
|
Location: |
Owned |
|
|
|
|
Factory: |
Dalpur Village, Nananpur Approach Road, Taluka Pranjij District S,K
Gujarat -383120, India |
DIRECTORS
As on: 10.09.2013
|
Name : |
Mr. Kamleshbhai Jethabhai Patel |
|
Designation : |
Whole Time Director |
|
Address : |
At Laxmanpura, Po Goral, Taluka – Idar, Sabarkantha – 383410, Gujarat, India |
|
Date of Birth/Age : |
01.07.1974 |
|
Date of Appointment : |
22.10.2007 |
|
DIN No. : |
01840272 |
|
PAN No.: |
AHBPP9529P |
|
|
|
|
Name : |
Mr. Prafulkumar Devchandbhai Patel |
|
Designation : |
Director |
|
Address : |
2, Yogi Parivar Bunglows, Mahakali Mandir Road, Mahavirnagar, Himatnagar, Sabarkantha – 383001, Gujarat, India |
|
Date of Birth/Age : |
15.10.1965 |
|
Date of Appointment : |
22.10.2007 |
|
DIN No. : |
00256551 |
|
PAN No.: |
AFSPP7451F |
|
|
|
|
Name : |
Mr. Pravinkumar Nathabhai Patel |
|
Designation : |
Managing Director |
|
Address : |
At Suryanagar Kampa, Idar, Sabarkantha – 383450, Gujarat, India |
|
Date of Birth/Age : |
01.06.1969 |
|
Date of Appointment : |
01.08.2009 |
|
DIN No. : |
01840244 |
|
PAN No.: |
AATPP8059M |
|
|
|
|
Name : |
Mr. Bharatbhai Dolabhai Patel |
|
Designation : |
Whole Time Director |
|
Address : |
At Lamanpura, Po. Goral Ta Idar, Sabarkantha – 383410, Gujarat, India |
|
Date of Birth/Age : |
01.06.1972 |
|
Date of Appointment : |
22.10.2007 |
|
DIN No. : |
01840296 |
|
PAN No.: |
AHBPP9531H |
|
|
|
|
Name : |
Mr. Jashubhai Amichandbhai Patel |
|
Designation : |
Director |
|
Address : |
5, Yogi Parivar Kanknol Road, Mahavirnagar, Himatnagar, Sabarkantha – 383001, Gujarat, India |
|
Date of Birth/Age : |
13.12.1977 |
|
Date of Appointment : |
22.10.2007 |
|
DIN No. : |
00256318 |
|
PAN No.: |
AGEPP2186L |
|
|
|
|
Name : |
Mr. Pravinbhai Amichandbhai Patel |
|
Designation : |
Additional Director |
|
Address : |
6, Yogi Parivar Kanknol Road, Mahavirnagar, Himatnagar, Sabarkantha – 383001, Gujarat, India |
|
Date of Birth/Age : |
16.12.1980 |
|
Date of Appointment : |
01.06.2008 |
|
DIN No. : |
00256357 |
|
|
|
|
Name : |
Mr. Utkarshakumar Revabhai Patel |
|
Designation : |
Whole Time Director |
|
Address : |
1, Yogi Parivar, Near Mahakali Temple, Kanknol Road, Mahavirnagar, Himatnagar, Sabarkantha – 383001, Gujarat, India |
|
Date of Birth/Age : |
08.02.1982 |
|
Date of Appointment : |
01.06.2008 |
|
DIN No. : |
02022565 |
|
PAN No.: |
ALQPP3677D |
|
|
|
|
Name : |
Mr. Babu Devjibhai Patel |
|
Designation : |
Whole Time Director |
|
Address : |
At and Po. Nava Revas, Ta- Idar, Sabarkantha – 383430, Gujarat, India |
|
Date of Birth/Age : |
07.08.1974 |
|
Date of Appointment : |
18.06.2008 |
|
DIN No. : |
02223836 |
|
PAN No.: |
AJYPP2401R |
|
|
|
|
Name : |
Mr. Sureshbhai Hansrajbhai Patel |
|
Designation : |
Whole Time Director |
|
Address : |
C/o. Patel Saw Mill, Mehtapura, Himatnagar, Sabarkantha – 383001, Gujarat, India |
|
Date of Birth/Age : |
10.04.1980 |
|
Date of Appointment : |
18.06.2008 |
|
DIN No. : |
02223842 |
|
PAN No.: |
AGPPP6656E |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 10.09.2013
MAJOR SHAREHOLDERS DETAILS FILE ATTACHED
As on: 10.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
68.53 |
|
Other top fifty shareholders |
31.47 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of High Pressure Decorative Laminates. |
||||
|
|
|
||||
|
Products : |
|
PRODUCTION STATUS (As on 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Laminates Sheets |
Sheet |
3000 Sheets Per
day |
827052 |
GENERAL INFORMATION
|
No. of Employees : |
Information denied by the management |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
K. K Patel and Associates Chartered Accountants |
|
Address : |
F-51, 2nd Floor, “Akash Ganga” Complex, Near S T Stand, Himatnagar
– 383 001, |
|
Tel. No.: |
91-2772-240499 |
|
Mobile No.: |
91-9898044121 |
|
E-Mail : |
|
|
PAN No.: |
AGPPP6687D |
CAPITAL STRUCTURE
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6000000 |
Equity Shares |
Rs.10/- each |
Rs. 60.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5500000 |
Equity Shares |
Rs.10/- each |
Rs.55.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
55.000 |
55.000 |
55.000 |
|
(b) Reserves & Surplus |
52.988 |
37.476 |
29.680 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
107.988 |
92.476 |
84.680 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
46.588 |
60.356 |
154.608 |
|
(b) Deferred tax liabilities (Net) |
5.955 |
5.530 |
3.786 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
89.652 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
52.543 |
65.886 |
248.046 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
110.068 |
121.033 |
32.459 |
|
(b) Trade payables |
110.836 |
85.059 |
0.000 |
|
(c) Other current
liabilities |
15.077 |
16.756 |
17.170 |
|
(d) Short-term
provisions |
5.569 |
3.140 |
1.961 |
|
Total Current
Liabilities (4) |
241.550 |
225.988 |
51.590 |
|
|
|
|
|
|
TOTAL |
402.081 |
384.350 |
384.316 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
107.633 |
112.913 |
101.891 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
4.959 |
4.926 |
7.645 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
112.592 |
117.839 |
109.536 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
139.297 |
148.499 |
154.063 |
|
(c) Trade receivables |
135.324 |
101.152 |
99.316 |
|
(d) Cash and cash
equivalents |
2.569 |
2.300 |
6.082 |
|
(e) Short-term loans
and advances |
12.299 |
14.560 |
15.319 |
|
(f) Other current
assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
289.489 |
266.511 |
274.780 |
|
|
|
|
|
|
TOTAL |
402.081 |
384.350 |
384.316 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
643.477 |
497.597 |
480.891 |
|
|
|
Other Income |
0.129 |
1.740 |
1.502 |
|
|
|
TOTAL |
643.606 |
499.337 |
482.393 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
525.725 |
388.540 |
408.791 |
|
|
|
Purchases of stock-in-trade |
3.123 |
4.942 |
8.814 |
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
8.720 |
6.045 |
(33.068) |
|
|
|
Employee benefit expense |
20.402 |
23.093 |
30.630 |
|
|
|
Other expenses |
24.958 |
25.086 |
25.281 |
|
|
|
TOTAL |
582.928 |
447.706 |
440.448 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
60.678 |
51.631 |
41.945 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
24.250 |
25.570 |
23.886 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
36.428 |
26.061 |
18.059 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
15.453 |
13.421 |
11.256 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
20.974 |
12.640 |
6.803 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
5.925 |
4.845 |
2.346 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
15.049 |
7.795 |
4.457 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.74 |
1.42 |
0.81 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
2.34
|
2.53 |
0.92 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.26
|
2.54 |
1.41 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.22
|
2.03 |
1.77 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19
|
0.14 |
0.04 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.45
|
1.96 |
2.21 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.20
|
1.18 |
5.33 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT:
|
Particulars |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Current maturities of long-term debt |
12.150 |
16.000 |
16.000 |
|
|
|
|
|
|
Total |
12.150 |
16.000 |
16.000 |
|
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 |
Yes |
|
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 |
Yes |
|
33] |
Voter
ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External
Agency Rating, if available |
Yes |
UNSECURED LOAN:
|
Particulars |
31.03.2013 [Rs.
in Millions] |
31.03.2012 [Rs.
in Millions] |
|
Long Term
Borrowing |
|
|
|
Loans and advance from directors |
7.101 |
4.725 |
|
Loans and advance from others |
39.487 |
40.265 |
|
|
|
|
|
Total |
46.588 |
44.990 |
INDEX CHARGES:
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10203981 |
01/08/2011 * |
218,500,000.00 |
STATE BANK OF INDIA |
Industrial Finance Branch, 1st Floor,
Neptune Towe, Annexe, opp Gandhigram Railway Station, Ahmedabad, Gujarat -
380009, INDIA |
B17846627 |
|
2 |
10093830 |
29/07/2011 * |
218,500,000.00 |
STATE BANK OF INDIA |
Industrial Finance Branch, 1st Floor,
Neptune Towe, Annexe, opp Gandhigram Railway Station, Ahmedabad, Gujarat -
380009, INDIA |
B18865378 |
* Date of charge modification
OPERATION:
During the financial year the Company has achieved turnover of Rs. 643.477 Millions as against Rs. 499.337 Millions during the previous year. During the year the Company has earned Net Profit of Rs. 15.049 Millions as against Rs. 7.795 Millions during the previous year. Barring unforeseen circumstances, the Directors are hopeful to get better performance in the current year.
FIXED ASSETS:
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. 61.92 |
|
|
1 |
Rs. 99.45 |
|
Euro |
1 |
Rs. 83.92 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
37 |
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.