MIRA
INFORM REPORT
|
Report Date : |
25.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
|
|
|
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Registered
Office : |
7-B, Pannalal Silk Mill Compound, 78 LBS Marg, Bhandup (West),
Mumbai-400078, |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of Incorporation
: |
09.08.1972 |
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Com. Reg. No.: |
11-015935 |
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Capital
Investment / Paid-up Capital : |
Rs. 11.984 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29191MH1972PTC015935 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
MUMW02349E |
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|
|
PAN No.: [Permanent Account No.] |
AAACW0012H |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Commercial Refrigeration, Hot and Cold Vending
Machines and Ice Machines etc. |
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|
No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 5000000 |
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. Overall financials of the company appears to be decent. Trade relations are reported as fair. Business is active. Payment
terms are reported to be usually correct. The company can be considered normal 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.
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 |
ICRA |
|
Rating |
Term Loan = BBB- |
|
Rating Explanation |
Moderate credit quality and average credit
risk |
|
Date |
July 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Non Fund Based Limits = A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk |
|
Date |
July 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. Veer |
|
Designation : |
Export Department |
|
Contact No.: |
91-22-67161200 |
|
Date : |
25.10.2013 |
LOCATIONS
|
Registered Office / Factory 1 : |
7-B, Pannalal Silk Mill compound,
78 LBS Marg, Bhandup (West), Mumbai-400078, |
|
Tel. No.: |
91-22-67161200/1201/67161215/67161330/25607610/25622241 |
|
Fax No.: |
91-22-67161294/25962257/25962275 |
|
E-Mail : |
rashmisamal@westernequipments.com |
|
Website : |
|
|
Area : |
7000 sq.ft |
|
Location : |
Owned |
|
|
|
|
Head office : |
Krishna Mills Compound , close to Asian paints, L B S Marg, Behind Sonapur, Bhandup, Mumbai – 400 078, Maharashtra, India |
|
Tel. No.: |
91-22-25964497 / 25662235 |
|
Fax No.: |
91-22-67698108 |
|
E-Mail : |
mumbai@westernequipments.com
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|
Factory 2 : |
Plot No. 288, |
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Area: |
5 Acre |
|
Location : |
Owned |
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Factory 3 : |
Survey No. 174 / 1 Road, |
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Location : |
Owned |
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Branches : |
Located at: ·
Jammu ·
Ludhiana ·
Chandigarh ·
New Delhi ·
Jaipur ·
Lucknow ·
Patna ·
Guwahati ·
Kolkata ·
Ahmedabad ·
Mumbai ·
Pune ·
Nasik ·
Hyderabad ·
Bangalore ·
Chennai ·
Coimbatore ·
Cochin |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Harmeet Singh Bhupender Singh Machre |
|
Designation : |
Managing Director |
|
Address : |
51 MICASA, Central Avenue, Santacruz (West), Mumbai - 400054,
Maharashtra, India |
|
Date of Birth/Age : |
05.03.1972 |
|
Date of Appointment : |
28.03.2009 |
|
PAN No.: |
AAFPM0355D |
|
DIN No.: |
00084003 |
|
|
|
|
Name : |
Mr. Parmeet Singh Bhupinder Singh Machre |
|
Designation : |
Whole Time Director |
|
Address : |
51, Micasa, |
|
Date of Birth/Age : |
21.11.1973 |
|
Date of Appointment : |
15.12.1993 |
|
PAN No.: |
AADPM5659A |
|
DIN No.: |
00114467 |
KEY EXECUTIVES
|
Name : |
Mr. Veer |
|
Designation : |
Export Executive |
MAJOR SHAREHOLDERS
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Machre Gopalsingh Bhupindersingh |
|
1 |
|
Simran H. Singh |
|
146685 |
|
Vineet P. Singh |
|
146685 |
|
Parmeet Singh B. Machre HUF |
|
65000 |
|
Harmeet Singh B. Machre HUF |
|
65000 |
|
Master Aviraj H. Singh |
|
132722 |
|
Master Paviraj P. Singh |
|
132722 |
|
Rupa A. Sahani |
|
79819 |
|
Gunveen A. Sahani |
|
20000 |
|
Saneesha A. Sahani |
|
20000 |
|
Master Rajveer H. Singh |
|
94722 |
|
Master Paramraj P. Singh |
|
94722 |
|
Total |
|
998078 |
As on 23.01.2013
|
Names of Allottees |
|
No. of Shares |
|
Hoshizaki Electric Company Limited, Japan |
|
200278 |
|
Total |
|
200278 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2012
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Commercial Refrigeration, Hot and Cold
Vending Machines and Ice Machines etc. |
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Products : |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
Gulf Countries |
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Imports : |
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Products : |
Raw Material |
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Countries : |
China |
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Terms : |
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Selling : |
Credit (30 days)/ Depends |
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Purchasing : |
Credit (30 days)/ Depends |
GENERAL INFORMATION
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No. of Employees : |
100 (Approximately) |
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Bankers : |
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Facilities : |
Notes: a)
Secured by mortgage/first charge on fixed assets
of the Company's Atgaon unit situated at Taluka Shahpur, Dist Maharashtra and
at Naroli unit situated at Silvasa on paripassu basis with consortium.
Personal guarantees of Mr. Bhupinder Singh Machre, Mr. Parmeet Singh Machre
and Mr. Harmeet Singh Machre. b)
Secured by hypothecation of vehicles. c)
Secured by first charge on all current assets of
the company on paripassu basis with consortium and collaterally secured by
first charge on fixed assets of company's Atgaon Unit situated at Taluka
Shahapur, District of Maharashtra and at Naroli Unit situated at Silvassa on
Paripassu basis with consortium |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Sunderlal Desai and Kanodia Chartered Accountants |
|
Address : |
903, |
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PAN No.: |
AAFFS3478K |
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Holding company
: |
Hoshizaki Electric Company Limited |
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Subsidiary
Company : |
CIN No.: U29253MH2012PTC234428
|
CAPITAL STRUCTURE
As on 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6000000 |
Equity Shares |
Rs. 10/- each |
Rs. 60.000 Millions |
|
10000 |
Preference Shares |
Rs. 10/- each |
Rs. 0.100 Million |
|
|
Total |
|
Rs. 60.100
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1198356 |
Equity Shares |
Rs. 10/- each |
Rs. 11.984 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 |
11.984 |
9.981 |
9.981 |
|
(b) Reserves & Surplus |
1236.425 |
672.993 |
623.375 |
|
(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) |
1248.409 |
682.974 |
633.356 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
19.825 |
41.994 |
107.328 |
|
(b) Deferred tax liabilities (Net) |
56.923 |
53.554 |
46.547 |
|
(c) Other long term liabilities |
2.864 |
3.285 |
3.524 |
|
(d) long-term provisions |
4.120 |
2.050 |
2.198 |
|
Total Non-current Liabilities (3) |
83.732 |
100.883 |
159.597 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
246.541 |
543.583 |
506.425 |
|
(b) Trade payables |
767.034 |
751.689 |
716.731 |
|
(c) Other current
liabilities |
229.832 |
178.286 |
185.016 |
|
(d) Short-term provisions |
20.942 |
31.140 |
11.194 |
|
Total Current Liabilities (4) |
1264.349 |
1504.698 |
1419.366 |
|
|
|
|
|
|
TOTAL |
2596.490 |
2288.555 |
2212.319 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
498.448 |
412.739 |
349.388 |
|
(ii) Intangible Assets |
4.134 |
3.056 |
0.000 |
|
(iii) Capital
work-in-progress |
014.392 |
8.446 |
16.905 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
58.916 |
59.067 |
63.817 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
74.283 |
48.016 |
35.876 |
|
(e) Other Non-current assets |
108.931 |
109.520 |
116.823 |
|
Total Non-Current Assets |
759.104 |
640.844 |
582.809 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
967.749 |
879.934 |
847.873 |
|
(c) Trade receivables |
705.938 |
652.576 |
645.125 |
|
(d) Cash and cash
equivalents |
53.644 |
44.593 |
39.936 |
|
(e) Short-term loans and
advances |
80.230 |
63.784 |
91.070 |
|
(f) Other current assets |
29.825 |
6.824 |
5.506 |
|
Total Current Assets |
1837.386 |
1647.711 |
1629.510 |
|
|
|
|
|
|
TOTAL |
2596.490 |
2288.555 |
2212.319 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
3835.251 |
3061.775 |
2268.120 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
3722.605 |
2983.434 |
2221.593 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
112.649 |
78.341 |
46.527 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
47.685 |
28.723 |
13.614 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
64.964 |
49.618 |
23.913 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
602.795 |
553.177 |
520.264 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
667.759 |
602.795 |
553.177 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
749.805 |
384.304 |
439.078 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
54.21 |
NA |
32.98 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.69
|
1.62 |
1.05 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.57
|
4.34 |
2.61 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09
|
0.11 |
0.07 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.21
|
0.86 |
0.97 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.45
|
1.10 |
1.15 |
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 |
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 |
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 LOANS:
|
Particulars |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
Short Term Borrowings |
|
|
|
Deposit from shareholders |
0.000 |
50.283 |
|
Total |
0.000 |
50.283 |
CURRENT MATURITY
OF LONG TERM DEBT DETAIL:
(Rs.
In Millions)
|
Particulars |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Current Maturity
of Long Term Debt |
25.036 |
28.815 |
NA |
|
Total |
25.036 |
28.815 |
NA |
FINANCIAL
HIGHLIGHTS:
The Company's performance in the year 2012-13 was marked with good sales.
The total revenue of the company has risen to Rs. 3835.251 Millions as against
the corresponding figure of Rs. 3061.775 Millions in earlier year.
The Company has been able to earn Profit after Tax of Rs. 64.964
Millions as against the last year figure of Rs. 49.618 Millions.
NEW DEVELOPMENTS:
The Company has entered into Shareholder Share Subscription cum
Shareholders' Agreement, dated 14th December, 2012 (SSHA) with Hoshizaki
Electric Company Limited (Foreign Partner), by which 200,278 Equity Shares of
Rs. 10/- each of the Company are allotted for cash at a price of Rs. 2496.53
per share, aggregating to Rs. 500.000 Millions (Subscription Shares), to the
Foreign Partner on 23rd January, 2013.
INDEX OF CHARGE:
|
Sr .No |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10313281
|
10/04/2012
* |
1,020,000,000.00
|
IDBI
Bank Limited |
IDBI TOWERWTC COMPLEX, CUFFE PARADE,
MUMBAI, Maharashtra - 400005, INDIA |
B38597050
|
|
2 |
10177292
|
25/09/2009
* |
50,000,000.00
|
IDBI
Bank Limited |
IDBI TOWERWTC COMPLEX, CUFFE
PARADE, MUMBAI, Maharashtra - 400005, INDIA |
A71300529
|
|
3 |
10074918
|
16/03/2009
* |
350,000,000.00
|
Canara
Bank |
Worli Branch, Marthanda
Building, Dr. A. B. Road, Worli, Mumbai, Maharashtra - 400018, INDIA |
A59887489
|
|
4 |
10074920
|
16/03/2009
* |
350,000,000.00
|
Canara
Bank |
Worli Branch, Marthanda Building,
Dr. A. B. Road, Worli, Mumbai, Maharashtra - 400018, INDIA |
A59888032
|
|
5 |
80023962
|
04/04/2006
|
100,000,000.00
|
Industrial
Development Bank of India Limited |
IDBI TOWER, CUFFE PARADE, WTC COMPLEX,
COLABA, MUMBAI, Maharashtra - 400005, INDIA |
- |
|
6 |
90163961
|
10/04/2012
* |
65,000,000.00
|
Canara
Bank |
Worli Branch, Marthanda
Building, Dr. A.B. road, Worli, Mumbai, Maharashtra - 400018, INDIA |
B44212637
|
|
7 |
90163522
|
31/03/1997
|
392,000.00
|
MASHREQ
BANK |
912; TULSISNI CHAMBERS,
NARIMAN POINT, MUMBAI, Maharashtra - 400021, INDIA |
- |
|
8 |
90163387
|
27/06/1996
|
32,000,000.00
|
CANARA
BANK |
WORIL, MUMBAI, Maharashtra,
INDIA |
- |
|
9 |
90160896
|
15/05/2010
* |
485,000,000.00
|
Canara
Bank |
Worli Branch, Marthanda
Building, Dr. A. B. Road, Worli, Mumbai, Maharashtra - 400018, INDIA |
A86498441
|
* Date of modification charge
FIXED ASSETS:
·
·
·
Office Premises
·
Shop Premises
·
Residential Flats
·
Plant and Machinery
·
Dies Moulds and Tools
·
Office Equipments
·
Weight and Scales
·
Vehicles
·
Furniture and Fittings
·
Air Conditioners
·
Cycle
·
Computers
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. 61.41 |
|
|
1 |
Rs. 99.53 |
|
Euro |
1 |
Rs. 84.82 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
50 |
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.