|
Report Date : |
23.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
GLASSTECH INDUSTRIES ( |
|
|
|
|
Registered
Office : |
Plot L – 113, MIDC Taloja, Taloja Industrial Area, Taloja District,
Raigad – 400703, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
12.05.1997 |
|
|
|
|
Com. Reg. No.: |
11-107962 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.179.851
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U26100MH1997PTC107962 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMG08682C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACG3416H |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Architectural Glasses and Mirrors. |
|
|
|
|
No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 810000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record.
There incurred some loss during 2012. The reserves of the company seems to be
deteriorating. However, trade relations are reported as fair. Business is active.
Payments terms are slow but correct. The company can be considered for business dealings with some caution.
Profit and Loss of the company is not available. |
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) |
|
|
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
The finance ministry
has started preparations for Budget 2014/15. With general elections scheduled
to be held by May next year, there will only be an interim budget. The new
government will present the fiscal Budget.
The Supreme Court
has barred clinical trials for new drugs till a monitoring mechanism is put in place
to protect the lives of people on which the drugs are tested.
Mumbai has been
named the world’s second most honest city according to a survey on 15 cities
worldwide by Readers’ Digest magazine. Finnish capital Helsinki bagged the top
spot for the world’s most honest city while Lisbon, the capital of Portugal,
proved to be the least honest. The survey put hundreds of people to test
in four continents to find out just how honest they were by dropping wallets
and seeing how many would be returned.
3.7 % Growth of the
core sector in August, a seven month high. This takes the overall growth in
April-August this year to 2.3 % compared with 6.3 % in the corresponding period
next financial year.
$19 million
Estimated average spending by companies across the globe including India, on
social media this year, according to a global study by information technology
major Tata Consultancy Services. This will rise to $ 24 million in 2015.
Rising inflation,
fewer employment avenues and dwindling earnings are taking a toll on the
spending capacity in India. Over 72 % respondents from middle and lower middle
income families would be forced to slash their Diwali expenditure by 40 % and
on average spend nearly 25 % of their monthly salary on Diwali, according to a
survey by Assochem.
Analysts believe the
shutdown of the US government would have limited impact in sectors such as IT
or tourism that are dependent on Visa clearances.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating = B+ (Suspended) |
|
Rating Explanation |
High risk of default. |
|
Date |
20.02.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = A4 (Suspended) |
|
Rating Explanation |
Minimal degree of safety and high credit risk. |
|
Date |
20.02.2013 |
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 : |
Mr. Anoop |
|
Designation : |
Sales Department |
|
Contact No.: |
91-9322123281 |
|
Date : |
22.10.2013 |
LOCATIONS
|
Registered Office/Factory: |
Plot L – 113 MIDC Taloja, Taloja Industrial Area, Taloja District,
Raigad – 400703, |
|
Tel. No.: |
91-22-27402693/ 94/ 95/ 96 |
|
Mobile No.: |
91-9322123281 (Mr. Anoop) |
|
Fax No.: |
91-22-27402322 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Office Address: |
F-223, 2nd Floor, Tower No.7, |
|
Tel. No.: |
91-22-40322999/27812395/27812396 |
|
Fax No.: |
91-22-40322950/27812394 |
|
E-Mail : |
DIRECTORS
As on: 22.09.2012
|
Name : |
Sathiapalan Govindan Ponnarambil |
|||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||
|
Address : |
B 205, Powai Vihar Lake C.H.S., Powai-Vihar, Powai, Mumbai- 400076,
Maharashtra, India |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
15.01.1945 |
|||||||||||||||||||||||||||
|
Date of Appointment : |
12.05.1997 |
|||||||||||||||||||||||||||
|
DIN No.: |
00404748 |
|||||||||||||||||||||||||||
|
PAN No.: |
AAFPP6773J |
|||||||||||||||||||||||||||
|
Other Directorship:
|
||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Name : |
Sandhia Sathiapalan |
|||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||
|
Address : |
Ponnarambil House, P.O. Kandanassery, Thrissur District, Trichur, - 680102, Kerala, India |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
23.05.1978 |
|||||||||||||||||||||||||||
|
Date of Appointment : |
12.05.1997 |
|||||||||||||||||||||||||||
|
DIN No.: |
02335045 |
|||||||||||||||||||||||||||
|
PAN No.: |
BUEPS8450F |
|||||||||||||||||||||||||||
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 22.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Ponnarambil Govindan Sathiapalan |
|
4722605 |
|
Usha Sathiapalan |
|
1677060 |
|
Sandhia Sathiapalan |
|
762524 |
|
Sandeep Sathiapalan Ponnarambil |
|
762624 |
|
Ponnarambil G. Sathiapalan Jointly Usha Sathiapalan |
|
8049355 |
|
Sandeep Sathiapalan Ponnarambil Jointly Ponnarambil G. Sathiapalan |
|
988521 |
|
Sandhia Sathiapalan Jointly Ponnarambil G. Sathiapalan |
|
1022427 |
|
Total |
|
17985116 |
Equity Share Break up (Percentage of Total Equity)
As on: 22.09.2012
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Architectural Glasses and Mirrors. |
|
|
|
|
Exports : |
|
|
Products : |
Finished Goods |
|
Countries : |
Middle East Countries |
|
|
|
|
Terms : |
|
|
Selling : |
L/C and Credit |
|
|
|
|
Purchasing : |
L/C and Credit |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Class of Goods: |
Glass |
|
Licensed
Capacity: |
N.A. |
|
Installed
Capacity: |
N.A. |
|
Item – 1 |
Production/Consumption |
|
Glass |
424936.84 |
|
Total Quantity |
424936.84 |
Note: Production/consumption
includes samples and wastages and does not include inter-division transfers
GENERAL INFORMATION
|
Customers : |
·
Reliance Industries Limited, Mumbai ·
Marathon Group, Mumbai ·
Glasswall System, Mumbai ·
S.P. Fabricators, Mumbai/Bangalore ·
Alufit India Private Limited, ·
·
Technoskill, Kerala ·
Ashok Leyland, Chennai ·
Wipro Technologies, ·
IBS Software Services, Kerala ·
Shobha Developers, ·
Ascendas Mahindra, Chennai ·
Naman Developers Limited, Mumbai ·
Walia Builders and Developers, Mumbai ·
Bhari Metal Fabricators Private Limited, Chennai |
|||||||||||||||
|
|
|
|||||||||||||||
|
No. of Employees : |
150 (Approximately) |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
State Bank of Tel. No.: 91-22-25284206 |
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Sheth and Associates Chartered Accountants |
|
Address : |
107, Golf View, Sopariwala Estate, Tradeo, Mumbai – 400034, |
|
PAN No.: |
AAVPS9812N |
CAPITAL STRUCTURE
After: 22.09.2012
Authorised Capital : Rs.250.000 Millions
Issued, Subscribed & Paid-up Capital : Rs.214.745
Millions
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
Rs.10/- each |
Rs.200.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
17985116 |
Equity Shares |
Rs.10/- each |
Rs.179.851
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
179.851 |
173.398 |
|
(b) Reserves & Surplus |
|
23.822 |
63.713 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
25.813 |
|
Total
Shareholders’ Funds (1) + (2) |
|
203.673 |
262.924 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
318.083 |
301.648 |
|
(b) Deferred tax liabilities (Net) |
|
39.485 |
34.126 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
357.568 |
335.774 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
92.136 |
105.822 |
|
(b) Trade
payables |
|
73.107 |
84.746 |
|
(c) Other
current liabilities |
|
48.485 |
17.515 |
|
(d) Short-term
provisions |
|
11.500 |
11.500 |
|
Total Current
Liabilities (4) |
|
225.228 |
219.583 |
|
|
|
|
|
|
TOTAL |
|
786.469 |
818.280 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
576.236 |
568.206 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
4.993 |
5.825 |
|
(e) Other
Non-current assets |
|
0.460 |
0.698 |
|
Total Non-Current
Assets |
|
581.689 |
574.729 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
100.118 |
119.866 |
|
(c) Trade
receivables |
|
75.122 |
78.340 |
|
(d) Cash
and cash equivalents |
|
2.674 |
4.996 |
|
(e)
Short-term loans and advances |
|
26.866 |
40.349 |
|
(f) Other
current assets |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
204.780 |
243.551 |
|
|
|
|
|
|
TOTAL |
|
786.469 |
818.280 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
173.398 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
45.500 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
218.898 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
303.372 |
|
|
2] Unsecured Loans |
|
|
122.404 |
|
|
TOTAL BORROWING |
|
|
425.776 |
|
|
DEFERRED TAX LIABILITIES |
|
|
35.026 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
679.700 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
461.864 |
|
|
Capital work-in-progress |
|
|
67.742 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
130.326 |
|
|
Sundry Debtors |
|
|
88.084 |
|
|
Cash & Bank Balances |
|
|
2.052 |
|
|
Other Current Assets |
|
|
0.255 |
|
|
Loans & Advances |
|
|
50.675 |
|
Total
Current Assets |
|
|
271.392 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
109.630 |
|
|
Other Current Liabilities |
|
|
5.180 |
|
|
Provisions |
|
|
7.000 |
|
Total
Current Liabilities |
|
|
121.810 |
|
|
Net Current Assets |
|
|
149.582 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.512 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
679.700 |
|
|
Particulars |
|
|
31.03.2013 |
|
Sales Turnover (Approximately) |
|
|
300.000 |
|
|
|
|
|
The above information has been parted by Mr. Anoop.
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.01
|
1.55 |
1.95 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.91
|
1.11 |
2.23 |
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 one year |
Yes |
|
12] |
Profitability for last three years |
No |
|
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 |
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
Unsecured Loan
(Rs in Millions)
|
Particulars |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
LONG TERM
BORROWINGS |
|
|
|
Loans and advances from related parties |
171.944 |
124.887 |
|
SHORT TERM
BORROWINGS |
|
|
|
Working capital loans from banks |
92.136 |
86.474 |
|
Rupee term loans from banks |
0.000 |
19.348 |
|
Total |
264.080 |
230.709 |
CONTINGENT
LIABILITIES NOT PROVIDED FOR AS ON 31.03.2012
(Rs. in Millions)
|
PARTICULARS |
As At 31.03.2012 |
|
Navi Mumbai Cess
payable for the accounting years 2005-06 to 2010-11,which amounts are being
assessed and will be accounted for on completion of assessments |
To be ascertained on assessment |
|
The Company had imported capital goods by availing of the scheme as per EPCG, against which the Company has an export obligation which has to be fulfilled within eight years from date of permission becoming effective |
12.565 |
|
Export obligations against Advance Licences taken |
44.854 |
|
Fluctuations in the LIBOR rate of interest on payments due to suppliers of machinery on deferred credit and fluctuations in the rate of exchange on the same. |
US $ 1029159 |
|
Fluctuations in the LIBOR rate of interest on payments due to suppliers of machinery on deferred credit and fluctuations in the rate of exchange on the same. |
Euro 7,87,500 |
|
Fluctuation in the exchange rate on FCNR Term Loan from State Bank of India |
US$ 2953386 |
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
90145690 |
18/06/2010 * |
300,000,000.00 |
STATE BANK OF INDIA |
DIAMOND GARDEN (CHEMBUR) BRANCH, PLOT NO.1, SION |
B56873771 |
|
2 |
90243810 |
11/08/2005 * |
84,500,000.00 |
STATE BANK OF INDIA |
CHEMBUR BRANCH, MUMBAI, Maharashtra - 400071, INDIA |
- |
|
3 |
90240840 |
11/01/2002 |
5,000,000.00 |
STATE BANK OF INDIA |
CHEMBUR BRANCH, MUMBAI, Maharashtra, INDIA |
- |
|
4 |
90244309 |
31/10/2001 |
5,000,000.00 |
STATE BANK OF INDIA |
CHEMBUR BRANCH, MUMBAI, Maharashtra, INDIA |
- |
* Date of charge modification
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.54.78 |
|
|
1 |
Rs.83.38 |
|
Euro |
1 |
Rs.70.72 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
RAJ |
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 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
30 |
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.