MIRA
INFORM REPORT
|
Report Date : |
11.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
ASIAN TUBES LIMITED |
|
|
|
|
Registered
Office : |
101, Sakar-III, Near Income Tax, Circle, Ahmedabad-380014, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
08.01.1985 |
|
|
|
|
Com. Reg. No.: |
04-007559 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 39.450 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27109GJ1985PLC007559 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCA2797E |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Tubes. |
|
|
|
|
No. of Employees
: |
300 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2800000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. General financial position of the company is good. Trade relations are reported as fair. Business is active. Payments are
reported to be usually correct and as per commitment. 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.
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 |
|
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.
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. Pramod Rawat |
|
Designation : |
Marketing Department |
|
Contact No.: |
91-79-27582515 |
|
Date : |
09.04.2014 |
LOCATIONS
|
Registered Office : |
101, Sakar-III, Near Income Tax, Circle, Ahmedabad-380014, Gujarat, India |
|
Tel. No.: |
91-79-27582515/16/17 |
|
Fax No.: |
91-79-27546320 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
Located At · Chhatral, Ahmedabad, Gujarat, India |
|
|
|
|
Branch Office : |
Village Ankhol, Taluka, Kadi District Mehsana – 382721, North Gujarat, India |
|
Tel. No.: |
91-2764-232230 /232238 |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Bajranglal Laxminara Agarwal |
|
Designation : |
Director |
|
Address : |
5, Nutan Society, Mahalaxmi Char Rasta, Ahmedabad – 380007, Gujarat, India |
|
Date of Birth/Age : |
05.03.1953 |
|
Date of Appointment : |
08.01.1985 |
|
DIN No.: |
00281045 |
|
PAN No.: |
ABKPA0963B |
|
|
|
|
Name : |
Mrs. Nirmaladevi Omprakash Agarwal |
|
Designation : |
Director |
|
Address : |
5, Nutan Society, Mahalaxmi Char Rasta, Ahmedabad – 380007, Gujarat, India |
|
Date of Birth/Age : |
12.03.1948 |
|
Date of Appointment : |
17.03.1988 |
|
DIN No.: |
00280959 |
|
PAN No.: |
AEGPA9656J |
|
|
|
|
Name : |
Mrs. Laxmidevi Bajranglal Agarwal |
|
Designation : |
Director |
|
Address : |
5, Nutan Society, Mahalaxmi Char Rasta, Ahmedabad – 380007, Gujarat, India |
|
Date of Birth/Age : |
20.07.1957 |
|
Date of Appointment : |
22.05.1988 |
|
DIN No.: |
00280913 |
|
PAN No.: |
ABKPA0966E |
|
|
|
|
Name : |
Mrs. Nupura Aditya Agarwal |
|
Designation : |
Director |
|
Address : |
5, Nutan Society, Mahalaxmi Char Rasta, Ahmedabad – 380007, Gujarat, India |
|
Date of Birth/Age : |
30.10.1989 |
|
Date of Appointment : |
01.09.2012 |
|
DIN No.: |
06416617 |
KEY EXECUTIVES
|
Name : |
Mr. Pramod Rawat |
|
Designation : |
Marketing Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Nirmaladevi Agarwal |
|
5511 |
|
Laxmidevi Agarwal |
|
12708 |
|
Omprakash Agarwal |
|
180 |
|
Bajaranglal Agarwal |
|
180 |
|
Bajaranglal Agarwal |
|
20577 |
|
Vikram Agarwal |
|
18 |
|
Rekha Agarwal |
|
18 |
|
Vikram Agarwal |
|
234 |
|
Aditya Agarwal |
|
2 |
|
Nupura Agarwal |
|
2 |
|
Ramkripal Gupta |
|
1 |
|
Sharadkumar Chaudhary |
|
3 |
|
Kailashwati Chaudhary |
|
3 |
|
Ramkumar Chaudhry-HUF |
|
3 |
|
Mamtá Chaudhary |
|
3 |
|
Meená M. Agarwal |
|
1 |
|
Ritá R. Agarwal |
|
3 |
|
Sharad R. Chaudhary |
|
3 |
|
Total |
|
39450 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
99.95 |
|
Other top fifty shareholders |
0.05 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Tubes. |
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Products : |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
·
UAE ·
African Countries |
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Terms : |
|
||||
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Selling : |
Depend |
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|
|
||||
|
Purchasing : |
Depend |
GENERAL INFORMATION
|
Suppliers : |
Steel Authority of India |
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|
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|
Customers : |
Indian Oil Corporation Limited |
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No. of Employees : |
300 (Approximately) |
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|
||||||||||||
|
Bankers : |
· The Karur Vysya Bank Limited, Post Box No.21, Erode Road, Karur - 639002, Tamilnadu, India ·
Karur Vysya Bank Limited, Ground Floor, B Block, Sakar-7, Nehru
Bridge Corner, Ashram Road,, Ahmedabad - 380009,
Gujarat, India |
||||||||||||
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|
|
||||||||||||
|
Facilities : |
(Rs. In Millions)
|
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
Nahta Jain And Associates Chartered Accountants |
|
Address : |
211, 1st Floor, New Cloth Market, O/s. Raipur Gate, Ahmedabad-380002, Gujarat, India |
|
PAN No.: |
AABFN3524D |
|
|
|
|
Associate : |
Asian Mills Private Limited |
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.1000/- each |
Rs.50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
39450 |
Equity Shares |
Rs.1000/- each |
Rs.39.450 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 |
39.450 |
39.450 |
39.450 |
|
(b) Reserves & Surplus |
675.825 |
586.906 |
530.815 |
|
(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) |
715.275 |
626.356 |
570.265 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
331.651 |
195.195 |
181.700 |
|
(b) Deferred tax liabilities (Net) |
4.754 |
0.000 |
1.392 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
336.405 |
195.195 |
183.092 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
154.445 |
400.772 |
107.400 |
|
(b) Trade payables |
496.144 |
518.061 |
528.083 |
|
(c) Other current
liabilities |
85.608 |
121.740 |
13.489 |
|
(d) Short-term provisions |
41.098 |
28.819 |
61.814 |
|
Total Current Liabilities (4) |
777.295 |
1069.392 |
710.786 |
|
|
|
|
|
|
TOTAL |
1828.975 |
1890.943 |
1464.143 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
257.074 |
261.800 |
230.979 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
10.545 |
0.000 |
0.101 |
|
(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 |
0.253 |
0.000 |
|
(d) Long-term Loan and Advances |
9.696 |
9.284 |
194.292 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
277.315 |
271.337 |
425.372 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
355.874 |
549.074 |
295.202 |
|
(c) Trade receivables |
756.359 |
620.848 |
579.571 |
|
(d) Cash and cash
equivalents |
298.431 |
271.372 |
43.346 |
|
(e) Short-term loans and
advances |
140.996 |
178.312 |
120.652 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
1551.660 |
1619.606 |
1038.771 |
|
|
|
|
|
|
TOTAL |
1828.975 |
1890.943 |
1464.143 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
3741.307 |
3819.996 |
3210.521 |
|
|
|
Other Income |
29.773 |
0.668 |
9.848 |
|
|
|
TOTAL (A) |
3771.080 |
3820.664 |
3220.369 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
3150.819 |
3381.211 |
2704.827 |
|
|
|
Purchases of Stock-in-Trade |
0.000 |
2.560 |
0.000 |
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
35.382 |
(32.031) |
11.804 |
|
|
|
Employees benefits expense |
97.627 |
76.563 |
47.210 |
|
|
|
Other expenses |
277.308 |
250.835 |
211.193 |
|
|
|
TOTAL (B) |
3561.136 |
3679.138 |
2975.034 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
209.944 |
141.526 |
245.335 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
29.817 |
13.323 |
21.919 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
180.127 |
128.203 |
223.416 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
42.284 |
44.937 |
38.159 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
137.843 |
83.266 |
185.257 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
48.924 |
27.175 |
62.579 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
88.919 |
56.091 |
122.678 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2253.97 |
1421.83 |
319.70 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
2.36 |
1.47 |
3.81 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.68 |
2.18 |
5.77 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.58 |
4.40 |
12.65 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19 |
0.13 |
0.32 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.68 |
0.95 |
0.51 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.00 |
1.51 |
1.46 |
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 |
39.450 |
39.450 |
39.450 |
|
Reserves & Surplus |
530.815 |
586.906 |
675.825 |
|
Net
worth |
570.265 |
626.356 |
715.275 |
|
|
|
|
|
|
long-term borrowings |
181.700 |
195.195 |
331.651 |
|
Short term borrowings |
107.400 |
400.772 |
154.445 |
|
Total
borrowings |
289.100 |
595.967 |
486.096 |
|
Debt/Equity
ratio |
0.507 |
0.951 |
0.680 |
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) |
|
Sales |
3210.521 |
3819.996 |
3741.307 |
|
|
|
18.984 |
-2.060 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
3210.521 |
3819.996 |
3741.307 |
|
Profit |
122.678 |
56.091 |
88.919 |
|
|
3.82% |
1.47% |
2.38% |
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 |
Yes |
|
18] |
Major customers |
Yes |
|
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 |
No |
FINANCIAL RESULTS:
Company’s Sales Turnover was of Rs. 3771.080 Millions during the year in Comparison to the figure of Rs.3820.664 Millions of the previous year. Net Profit was Rs 88.919 Millions in comparison to the figure of Profit Rs. 56.091 Millions of the previous year.
UNSECURED LOAN
Rs. In Millions
|
Particular |
As
on 31.03.2013 |
As
on 31.03.2012 |
|
Long-term borrowings |
|
|
|
Other loans and advances |
331.651 |
195.195 |
|
Total |
331.651 |
195.195 |
|
|
|
|
FIXED ASSETS
· Land
· Buildings
· Plant and equipment
· Factory equipment
· Furniture and fixtures
· Vehicles
· Office equipment
· Computer equipments
· Other equipments
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.60.07 |
|
|
1 |
Rs.100.56 |
|
Euro |
1 |
Rs.82.79 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
47 |
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.