MIRA
INFORM REPORT
|
Report Date : |
08.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
CHEMICAL PROCESS PIPING PRIVATE LIMITED (w.e.f.24.06.1985) |
|
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Formerly Known
As : |
CPE PIPES PRIVATE LIMITED |
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Registered
Office : |
CPE Plots, BSD Marg, Govandi,
Mumbai – 400088, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
25.10.2004 |
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Com. Reg. No.: |
11-149230 |
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Capital Investment/
Paid-up Capital: |
Rs.9.900 Millions |
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CIN No.: [Company Identification
No.] |
U25206MH2004PTC149230 |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMC13766E |
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PAN No.: [Permanent Account No.] |
AACCC6212D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Glass Fibre
Reinforced Plastic Piping |
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No. of
Employees: |
600 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (52) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1300000 |
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|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having good track record. Fundamentals of the company is decent. Financial position of the
company is sound. Trade relation reported to be fair. Business is active. Payment terms
are reported to be regular and as per commitment. The company can be considered normal for business dealing 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.
ECGC Country Risk Classification List – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India’s current account deficit for the fiscal third quarter ended
September 2013 narrowed to $4.2 billion or 0.9 % of the gross domestic product
from $31.9 billion or 6.5 % of GDP a year earlier, thanks to a pick-up in
exports and moderation in gold imports. Manufacturing activity and new orders
in India showed their strongest growth in a year in February. The news comes as
a relief after data showed Asia’s third largest economy grew by a
slower-than-expected 4.7 % annually in the three months through December. The
HSBC Manufacturing Purchasing Managers’ Index which gauges the business
activity of India’s factories but not its’ utilities, rose to 52.5 in February,
its highest in a year from 51.4 in January. Overall new orders for factory
goods which rose to a one-year high of 54.9 contributed to the surge. China has
emerged as India’s biggest trading partner in the current financial year
replacing the United Arab Emirates and pushing it to the third spot.
India-China trade has reached $49.5 billion with a 8.7 % share in India’s total
trade. The US comes second at $46 billion with 8.1 % share during the first
nine months of the current financial year.
The Reserve Bank of India has granted an additional nine months to the
public to exchange currency notes printed before 2005 including Rs 500 and Rs 1,000
denominations, pushing the deadline to January 1, 2015. A day before dates for
the Lok Sabha polls were
announced, the government decided to hike interest rates on fixed deposit
schemes offered by post offices up to 0.2 per cent. The new rates will be
effective April, 1. The Supreme Court will resume hearing on March, 11 Nokia’s
appeal against a ruling over transferring ownership of its local mobile phones
plant which is the subject of a tax dispute to Microsoft Corp.
In the last days of the current Government, another scam has surfaced.
The defence ministry has ordered a probe into
Hindustan Aeronautics Limited’s contracts from
Britain’s Rolls-Royce Holdings worth at least $ 1.2 billion. The Central Bureau
of Investigation will look into allegations that over $80 million was paid in
kickbacks in a deal signed in 2011. India has asked Boeing Co. to find a
solution for problems with state-owned Air India’s 787 Dreamliners.
The aircraft has experienced a series of malfunctions since its debut in 2011.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating=A- |
|
Rating Explanation |
Adequate degree of safety and low credit
risk. |
|
Date |
04.09.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating=A2+ |
|
Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
04.09.2013 |
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. Raghunath |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-22-67230600 |
|
Date : |
03.04.2014 |
LOCATIONS
|
Registered Office : |
CPE Plots BSD Marg, Govandi,
Mumbai – 400088, |
|
Tel. No.: |
91-22- 67230600 |
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Fax No.: |
91-22- 67230618 |
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E-Mail : |
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Website : |
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Vadodara Factory: |
Block No.126/128, Village: |
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Tel. No.: |
91-265-6564309 |
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Email: |
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|
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Overseas Office : |
Located at: ·
Hoehr – Grenzhausen ·
Singapore ·
Thailand |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Bagh Singh Rajpurohit |
|
Designation : |
Chairman |
|
Address : |
B-1, |
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Date of Birth/Age : |
01.09.1936 |
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Date of Appointment : |
25.10.2004 |
|
Din No.: |
00793939 |
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|
|
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Name : |
Mr. Vijay Bagh Singh Rajpurohit |
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Designation : |
Managing Director |
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Address : |
Unit No.2, Building No.2, Jaswant Baug, |
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Date of Birth/Age : |
06.08.1965 |
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Qualification: |
Bachelor of Engineering (Environmental) |
|
Experience |
8 years |
|
Date of Appointment : |
11.07.2005 |
|
Din No.: |
00967273 |
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|
|
|
Name : |
Mr. Subbaraman Ananthanarayanan Melarkode |
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Designation : |
Director |
|
Address : |
B-4, Usha Vihar,
G. V. S. Road No.3 Mulund West, Mumbai – 400081, |
|
Date of Birth/Age : |
15.02.1945 |
|
Date of Appointment
: |
11.07.2005 |
|
Din No.: |
00985386 |
KEY EXECUTIVES
|
Name : |
Mr. Raghunath |
|
Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS
AS ON 30.09.2013
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Vijay Bagh Singh Rajpurohit |
651205 |
65.78 |
|
Aditya Rajpurohit |
338795 |
34.22 |
|
Total |
990000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2013
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Glass Fibre
Reinforced Plastic Piping |
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Products : |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
·
Australia ·
America ·
Africa ·
Germany ·
Singapore |
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Imports : |
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Products : |
Raw Material |
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Countries : |
European Countries |
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Terms : |
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Selling : |
Cash, Advance Payment, L/C, Cheque and
Credit |
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Purchasing : |
Cash, Advance Payment, L/C, Cheque and
Credit |
GENERAL INFORMATION
|
No. of Employees : |
600 (Approximately) |
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Bankers : |
Bank of Baroda, Fort, Mumbai, Maharashtra,
India |
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Facilities : |
NOTES: Secured by way of
hypothecation of stocks, book debts, other movable and current assets and also
collaterally secured by way of equitable mortgage of the company’s immovable
properties [Both present and future] and personally guaranteed by the main
directors and shareholders viz: Mr. B. S. Rajpurohit, Mr. Vijay Rajpurohit,
and Mr. Aditya Rajpurohit
The charge of these assets also
extends to non-fund based facilities viz,
Outstanding Bank Guarantees and letter of credit |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
Gupta Verma and Associates Chartered Accountants |
|
Address : |
Apurva Castle, Plot No.44, 301, S.T. Road, Union
Park, Chembur, Mumbai – 400071, Maharashtra,
India |
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Tel. No.: |
91-22-25202662 |
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Fax No.: |
91-22-25200334 |
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E-mail : |
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PAN No.: |
AABFE9514A |
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
990000 |
Equity Shares |
Rs.10/- each |
Rs.9.900 Millions |
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|
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 |
9.900 |
9.900 |
9.900 |
|
(b) Reserves & Surplus |
316.328 |
255.530 |
216.412 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
326.228 |
265.430 |
226.312 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
155.775 |
95.032 |
92.952 |
|
(b) Deferred tax liabilities (Net) |
2.906 |
2.440 |
1.836 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
7.293 |
7.221 |
4.113 |
|
Total Non-current Liabilities (3) |
165.974 |
104.693 |
98.901 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
82.448 |
37.814 |
90.777 |
|
(b) Trade payables |
128.113 |
125.620 |
102.231 |
|
(c) Other current
liabilities |
33.414 |
80.100 |
55.765 |
|
(d) Short-term provisions |
18.185 |
17.151 |
16.775 |
|
Total Current Liabilities (4) |
262.160 |
260.685 |
265.548 |
|
|
|
|
|
|
TOTAL |
754.362 |
630.808 |
590.761 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
314.025 |
317.695 |
310.963 |
|
(ii) Intangible Assets |
0.057 |
0.057 |
0.000 |
|
(iii) Capital
work-in-progress |
44.183 |
39.327 |
29.113 |
|
(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 |
2.141 |
2.072 |
1.280 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
360.406 |
359.151 |
341.356 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
147.122 |
108.867 |
69.707 |
|
(c) Trade receivables |
164.371 |
117.577 |
119.595 |
|
(d) Cash and cash
equivalents |
31.307 |
25.608 |
37.468 |
|
(e) Short-term loans and
advances |
50.975 |
19.451 |
22.547 |
|
(f) Other current assets |
0.181 |
0.154 |
0.088 |
|
Total Current Assets |
393.956 |
271.657 |
249.405 |
|
|
|
|
|
|
TOTAL |
754.362 |
630.808 |
590.761 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
||
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SALES |
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Income |
|
|
|
|
|
|
|
Other Income |
|
|
|
|
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|
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TOTAL |
863.679 |
689.859 |
737.952 |
|
|
|
|
|
|
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||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
TOTAL |
734.680 |
589.807 |
645.783 |
|
|
|
|
|
|
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||
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|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
128.999 |
100.052 |
92.169 |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/
AMORTISATION |
40.722 |
40.620 |
0.000 |
||
|
|
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|
|
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||
|
|
PROFIT/(LOSS)
BEFORE TAX |
88.277 |
59.432 |
92.169 |
||
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|
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||
|
Less |
TAX |
27.479 |
20.623 |
34.994 |
||
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||
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|
PROFIT/(LOSS)
AFTER TAX |
60.798 |
38.809 |
57.225 |
||
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||
|
|
EARNINGS IN
FOREIGN CURRENCY |
274.103 |
327.303 |
456.530 |
||
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IMPORTS |
|
|
|
||
|
|
|
Raw Materials |
NA |
115.203 |
107.608 |
|
|
|
TOTAL IMPORTS |
NA |
115.203 |
107.608 |
||
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|
|
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||
|
|
Earnings Per
Share (Rs.) |
61.41 |
NA |
NA |
||
Expected Sales (2013-2014): Rs.1050.000 Millions
The above information has been parted by Mr. Raghunath
(Accounts Executive)
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
7.04 |
5.63 |
7.75 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.43 |
10.05 |
16.41 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.27 |
0.22 |
0.41 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.73 |
0.50 |
0.81 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.50 |
1.04 |
0.94 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs. In
Millions |
Rs. In
Millions |
Rs. In
Millions |
|
Share Capital |
9.900 |
9.900 |
9.900 |
|
Reserves & Surplus |
216.412 |
255.530 |
316.328 |
|
Net
worth |
226.312 |
265.430 |
326.228 |
|
|
|
|
|
|
long-term borrowings |
92.952 |
95.032 |
155.775 |
|
Short term borrowings |
90.777 |
37.814 |
82.448 |
|
Total
borrowings |
183.729 |
132.846 |
238.223 |
|
Debt/Equity
ratio |
0.812 |
0.500 |
0.730 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs. In
Millions |
Rs. In
Millions |
Rs. In
Millions |
|
Total Income |
737.952 |
689.859 |
863.679 |
|
|
|
(6.517) |
25.196 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs. In
Millions |
Rs. In
Millions |
Rs. In
Millions |
|
Total Income |
737.952 |
689.859 |
863.679 |
|
Profit |
57.225 |
38.809 |
60.798 |
|
|
7.75% |
5.63% |
7.04% |
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 |
Yes |
|
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
OPERATIONS:
During the year,
subject earned total Income of Rs.863.679 Millions as compared to Rs.689.859
Millions for the year 2011-12. The net profit before tax increased from
Rs.59.432 Millions to Rs.88.277 Millions. After making provisions for Tax and
other Adjustment, Net Profit after tax stands at Rs.60.798 Millions.
Barring unforeseen
circumstances, The Directors are hopeful of better prospects and performance of
subject in future.
UNSECURED LOANS:
|
Particulars |
31.03.2013 Rs.
In Millions |
31.03.2012 Rs.
In Millions |
|
Long Term Borrowings |
|
|
|
Loan from
Shareholder (Unsecured loan
from the shareholder of the company) |
59.775 |
0.000 |
|
|
|
|
|
Total |
59.775 |
0.000 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10469141 |
09/12/2013 |
100,000,000.00 |
BANK
OF BARODA |
CORPORATE
FINANCIAL SERVICES, FORT BRANCH,, 10/12, 4TH FLOOR, MUMBAI SAMACHAR MARG,
FORT, MUMBAI, MAHARASHTRA - 400023, INDIA |
B93126084 |
|
2 |
10358302 |
10/05/2012 |
30,000,000.00 |
BANK
OF BARODA |
CORPORATE
FINANCIAL SERVICES, FORT BRANCH,, 10/12, 4TH FLOOR, MUMBAI SAMACHAR MARG,
FORT, MUMBAI, MAHARASHTRA - 400023, INDIA |
B40672222 |
|
3 |
10002479 |
20/01/2011
* |
474,500,000.00 |
BANK
OF BARODA |
CORPORTATE
FINANCIAL SERVICES - FORT BRANCH, 10/12, 4TH FLOOR, MUMBAI SAMACHAR MARG,
FORT, MUMBAI, MAHARASHTRA - 400023, INDIA |
B05450234 |
* Date of charge modification
FIXED ASSETS:
·
Freehold Land
·
Factory Building
·
Plant and Machinery
·
Furniture and Fixture
·
Electrical and Fittings
·
Office Equipments
·
Air Conditioner
·
Computers
·
Storage Equipments
·
Motor Vehicle
·
Office Site – Container
·
Software Account
·
Cranes Forklifts and Monorails
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.60.32 |
|
|
1 |
Rs.100.04 |
|
Euro |
1 |
Rs.82.65 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
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 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
52 |
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.