|
Report Date : |
15.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
JSW STEEL COATED PRODUCTS LIMITED [w.e.f.31.10.2012] |
|
|
|
|
Formerly Known
As : |
MAHARASHTRA SPONGE IRON LIMITED |
|
|
|
|
Registered
Office : |
JSW Centre,
Bandra Kurla Complex, Bandra (East), Mumbai – 400051, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
02.09.1985 |
|
|
|
|
Com. Reg. No.: |
11-037346 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 0.500 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27100MH1985PLC037346 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMJ17023G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCM3988L |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Processor, Exporter and Importer of Iron and Steel Products. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (31) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow But Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. There appear some accumulated losses recorded by the company. However,
the company has achieved minimal profit during the financial year 2013. 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.
ECGC Country Risk Classification List – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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
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.
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. Hemant Shate |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-9870250435 |
|
Date : |
14.10.2013 |
LOCATIONS
|
Registered Office : |
JSW Centre,
Bandra Kurla Complex, Bandra (East), Mumbai – 400051, Maharashtra, India |
|
Tel. No.: |
91-22-42861000 |
|
Mobile No.: |
91-9870250435 [Mr. Hemant Shate] |
|
Fax No.: |
91-22-42863000 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
A-10/1, MIDC Industrial Area, Kalmeshwar District, Nagpur-441501,
Maharashtra, India |
|
Tel No.: |
91-711-827112527 |
DIRECTORS
AS ON 30.07.2012
|
Name : |
Mr. Jayaraman Vardarajan |
|
Designation : |
Director |
|
Address : |
403, The Enclave Apartments, Marathe Marg, Prabhadevi, Mumbai-400025,
Maharashtra, India |
|
Date of Birth/Age : |
27.07.1966 |
|
Date of Appointment : |
03.04.1996 |
|
Date of Cessation : |
07.06.2013 |
|
DIN No.: |
00055676 |
|
|
|
|
Name : |
Mr. Surendranath Vasupal Vandakudri |
|
Designation : |
Director |
|
Address : |
A-504, Siddhi Apartments, Chikuwadi, Borivali (East), Mumbai-400092,
Maharashtra, India |
|
Date of Birth/Age : |
07.04.1959 |
|
Date of Appointment : |
25.08.2003 |
|
Date of Cessation : |
07.06.2013 |
|
DIN No.: |
00025699 |
|
|
|
|
Name : |
Mr. Ravindra Dattatray Bhalerao |
|
Designation : |
Director |
|
Address : |
503, Yoganand Society, Vazira Naka, LT Road, Borivali (West),
Mumbai-400091, Maharashtra, India |
|
Date of Birth/Age : |
03.11.1963 |
|
Date of Appointment : |
03.04.1996 |
|
Date of Cessation : |
07.06.2013 |
|
DIN No.: |
00022812 |
|
|
|
|
Name : |
Mr. Jayant Acharya |
|
Designation : |
Director |
|
Address : |
F-303, Great Eastern Gardens, L.B.S. Marg, Kanjur Marg [West], Mumbai
– 400078, Maharashtra, India |
|
Date of Birth/Age : |
25.01.1963 |
|
Date of Appointment : |
01.06.2013 |
|
DIN No.: |
00106543 |
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 |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U26957MH2006PLC160839
|
JSW CEMENT
LIMITED |
Director |
29/03/2006 |
29/03/2006 |
30/03/2010 |
Active |
NO |
|
2 |
U01010MH2003PLC176595
|
JSW STEEL
PROCESSING CENTRES LIMITED |
Director |
15/05/2007 |
01/12/2006 |
- |
Active |
NO |
|
3 |
U45200MH2008PLC180608
|
JSW BUILDING
SYSTEMS LIMITED |
Director |
28/03/2008 |
28/03/2008 |
- |
Amalgamated |
NO |
|
4 |
U28112MH2009PLC191045
|
JSW SEVERFIELD
STRUCTURES LIMITED |
Director |
19/03/2009 |
19/03/2009 |
- |
Active |
NO |
|
5 |
L27102MH1994PLC152925
|
JSW STEEL
LIMITED |
Director |
06/07/2009 |
07/05/2009 |
- |
Active |
NO |
|
6 |
U28112MH2009PLC197954
|
JSW STRUCTURAL
METAL DECKING LIMITED |
Director |
18/12/2009 |
18/12/2009 |
- |
Active |
NO |
|
7 |
U27100MH1985PLC037346
|
JSW STEEL COATED
PRODUCTS LIMITED |
Director |
16/08/2013 |
01/06/2013 |
- |
Active |
NO |
|
Name : |
Mr. Dileep Kashinath Bhatt |
|
Designation : |
Director |
|
Address : |
Leo B 404, Aries Leo Saggitarous CHS, Divya Park, Janklyan Nagar,
Marve Road, Malad [West], Mumbai - 400095, Maharashtra, India |
|
Date of Birth/Age : |
10.07.1958 |
|
Date of Appointment : |
01.06.2013 |
|
DIN No.: |
00046096 |
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 |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U27206GJ1996PTC073209
|
JINDAL COATED
STEEL PRIVATE LIMITED TFR. FROM MUMBAI TO DELHI |
Director |
07/11/2005 |
07/11/2005 |
31/08/2006 |
Active |
NO |
|
2 |
U45200MH2008PLC180608
|
JSW BUILDING
SYSTEMS LIMITED |
Additional
director |
17/01/2013 |
17/01/2013 |
- |
Amalgamated |
NO |
|
3 |
U27100MH1985PLC037346
|
JSW STEEL COATED
PRODUCTS LIMITED |
Director |
16/08/2013 |
01/06/2013 |
- |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Mr. Hemant Shate |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.07.2012
|
Names of Shareholders |
No. of Shares |
|
Jindal Savitridevi |
10 |
|
Jindal Sajjan |
10 |
|
Agarwal Shyamlal |
10 |
|
Jindal Sangita |
10 |
|
Agarwal Asha |
10 |
|
Sun Investments Private Limited, India |
24990 |
|
Gagan Trading Company Limited, India |
24960 |
|
TOTAL
|
50000 |
AS ON 30.07.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Bodies corporate |
99.90 |
|
Other top fifty shareholders |
0.10 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Processor, Exporter and Importer of Iron and Steel Products. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
Not Available |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Shah Gupta and Company Chartered Accountants |
|
Address : |
38, Bombay Mutual Building, 2nd Floor, Dr. D. N. Road, Mumbai –
400001, Maharashtra, India |
|
Tel. No.: |
91-22-40851000 |
|
Fax No.: |
91-22-40851015 |
|
E-Mail : |
|
|
PAN No.: |
AAAFS7702F |
|
|
|
|
Ultimate Holding Company : |
JSW Steel Limited CIN No.:- L27102MH1994PLC152925 |
|
|
|
|
Holding Company : |
Jsw Building
Systems Limited CIN No.:- U45200MH2008PLC180608 |
|
|
|
|
Associates : |
International
Maritime and Allied Services Limited CIN No.:- U45200MH2006PLC162795 |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.10/- each |
Rs. 0.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.10/- each |
Rs. 0.500 Million |
|
|
|
|
|
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 |
0.500 |
0.500 |
0.500 |
|
(b) Reserves & Surplus |
(0.074) |
(0.083) |
(0.069) |
|
(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) |
0.426 |
0.417 |
0.431 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
0.007 |
0.007 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
0.007 |
0.007 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
0.000 |
0.000 |
0.000 |
|
(c) Other current
liabilities |
0.000 |
0.000 |
0.009 |
|
(d) Short-term provisions |
0.002 |
0.000 |
0.000 |
|
Total Current Liabilities (4) |
0.002 |
0.000 |
0.009 |
|
|
|
|
|
|
TOTAL |
0.435 |
0.424 |
0.440 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
0.000 |
0.000 |
0.000 |
|
(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 |
0.249 |
0.249 |
0.249 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
0.249 |
0.249 |
0.249 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
0.000 |
0.000 |
0.000 |
|
(d) Cash and cash
equivalents |
0.186 |
0.175 |
0.191 |
|
(e) Short-term loans and
advances |
0.000 |
0.000 |
0.000 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
0.186 |
0.175 |
0.191 |
|
|
|
|
|
|
TOTAL |
0.435 |
0.424 |
0.440 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
0.025 |
0.008 |
0.005 |
|
|
|
Other Income |
0.000 |
0.000 |
0.000 |
|
|
|
TOTAL |
0.025 |
0.008 |
0.005 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Other Expenses |
0.014 |
0.022 |
0.017 |
|
|
|
TOTAL |
0.014 |
0.022 |
0.017 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
0.011 |
(0.014) |
(0.012) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.002 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
0.009 |
(0.014) |
(0.012) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(0.084) |
(0.070) |
(0.058) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(0.075) |
(0.084) |
(0.070) |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss)
Per Share (Rs.) |
0.18 |
(0.28) |
(0.23) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
36.00
|
(175.00) |
(240.00)
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
44.00
|
(175.00) |
(240.00)
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.91
|
(8.00) |
(6.28)
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03
|
(0.03) |
(0.03)
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
93.00
|
0.00 |
21.22 |
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 |
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 |
No |
|
24] |
Banking facility details |
No |
|
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 |
VIEW INDEX OF
CHARGES – No Charges Exits for the company
NOTE
Registered office has been shifted from Jindal Mansion, 5A G D Deshmukh
Marg, Mumbai-400026, Maharashtra, India to the present address w.e.f.
18.07.2013.
PERFORMANCE
The accounts for
the year ended 31st March, 2013 shows a Profit of Rs.0.009 Million as against a
loss of Rs. 0.014 Million in the previous year. The financial statements for
the year 2012-13 have been prepared as per applicable laws.
AMALGAMATION
The Directors in
their meeting held on 1 September, 2012, have considered and approved a
Composite Scheme of Arrangement and Amalgamation under Sections 391-394 of the
Companies Act, 1956 (the Scheme) amongst the Company, JSW ISPAT Steel Limited
(JSW ISPAT), JSW Building Systems Limited (JSW Building) and JSW Steel Limited
(JSW Steel) and their respective shareholders and creditors relating to the
following matters, with 1st July 2012 being the appointed date:
(a)
Transfer of the Kalmeshwar undertaking of JSW ISPAT
to the Company.
(b) Transfer of the
Vasind and Tarapur undertaking of JSW Steel (Holding Company) to the Company
(c) Amalgamation of
JSW Building with JSW Steel.
(d) Amalgamation of
Residual JSW ISPAT with JSW Steel.
On 3rd May, 2013
the Hon’ble Bombay High Court sanctioned the said Scheme with effect from 1st
July, 2012, being the appointed date. The certified copy of the Court Order was
filed with the Registrar of Companies, Maharashtra on 1st June, 2013
and the Scheme has become effective from that date.
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] 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. 61.30 |
|
UK Pound |
1 |
Rs. 97.98 |
|
Euro |
1 |
Rs. 83.14 |
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 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
31 |
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.