MIRA
INFORM REPORT
|
Report Date : |
16.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
SHRENIK INDUSTRIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Gat No. 355, A/P Majale, Kolhapur – 416109, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
05.04.2010 |
|
|
|
|
Com. Reg. No.: |
11-135984 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.9.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29299PN2010PTC135984 |
|
|
|
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of tower for wind turbine. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (12) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow and delayed |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary “GESTAMP POWERGEAR WINDSTEEL PRIVATE LIMITED”.
It is an established company having moderate track record. The management has failed to file its financial record with government
department for the year 2013. As per previous financial record of 2012, the company has incurred
huge accumulated losses which has eroded net worth of the company. Business is active. Payment terms are slow and delayed. The company can be considered of business dealings on safe and secured
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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
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
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects
positive impact of the election cycle.
India’s economy may
grow 4.7 % in the current financial year, lower than the official estimate of
4.9 %, Fitch Rating said. The global rating agency expects the economy to pick
up in the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1
million Indian tourists in 2012), Thailand (one million), the United Arab
Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred
holidays hotspots for Indians. The total figure is expected to increase to 1.93
million by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
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 DENIED BY
|
Name : |
Mr. Dada Patil |
|
Designation : |
Accounts Head |
|
Contact No.: |
91-230-3022100 |
|
Date : |
15.04.2014 |
LOCATIONS
|
Registered Office/ Factory : |
Gat No. 355, A/P Majale, Kolhapur – 416109, Maharashtra, India |
|
Tel. No.: |
91-230-3022100 |
|
Fax No.: |
91-230-3022124 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on: 24.09.2013
|
Name : |
Mr. Durairaj Xavier |
|
Designation : |
Additional Director |
|
Address : |
Old No, 110, New No. 12, AE-Block, 10th Main Road,
Annanagar, Chennai – 600040, Tamilnadu, India |
|
Date of Birth/Age : |
19.04.1948 |
|
Date of Appointment : |
30.05.2012 |
|
DIN No.: |
00514197 |
|
|
|
|
Name : |
Mr. Rajesh Xavier Durairaj |
|
Designation : |
Additional Director |
|
Address : |
Old No, 40, New No. 09, S Block, 21st Street, Annanagar,
Chennai – 600040, Tamilnadu, India |
|
Date of Birth/Age : |
03.06.1981 |
|
Date of Appointment : |
30.05.2012 |
|
DIN No.: |
01774431 |
|
|
|
|
Name : |
Javier Ignacio Imaz Rubalcaba |
|
Designation : |
Additional Director |
|
Address : |
Olaberia, Guipuzioa, Zugazarte 1 28391, Madrid |
|
Date of Birth/Age : |
17.07.1964 |
|
Date of Appointment : |
30.05.2012 |
|
DIN No.: |
03496668 |
|
|
|
|
Name : |
Juan Maria Riberas Mera |
|
Designation : |
Additional Director |
|
Address : |
Prolongacion De Embajodores, 28053, Madrid |
|
Date of Birth/Age : |
06.10.1968 |
|
Date of Appointment : |
30.05.2012 |
|
DIN No.: |
02146671 |
|
|
|
|
Name : |
Mario Ruiz Escribano |
|
Designation : |
Additional Director |
|
Address : |
C/ Ventura Rodriguze 014, Chalet 12, Boadil Del Monte 28660 |
|
Date of Birth/Age : |
14.01.1963 |
|
Date of Appointment : |
30.05.2012 |
|
DIN No.: |
03546498 |
KEY EXECUTIVES
|
Name : |
Mr. Dada Patil |
|
Designation : |
Accounts Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 24.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Gestamp Powergear Windsteel Private Limited, India |
|
1566446 |
|
Durairaj Xavier |
|
1 |
|
|
|
|
|
Total |
|
1566447 |
As on: 07.06.2013
|
Names of Allottee |
|
No. of Shares |
|
Gestamp Powergear Windsteel Private Limited, India |
|
304225 |
|
|
|
|
|
Total |
|
304225 |
Equity Share Break up (Percentage of Total Equity)
As on: 24.09.2013
|
Category |
|
Percentage |
|
Bodies corporate |
|
100.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of tower for wind turbine. |
GENERAL INFORMATION
|
Suppliers : |
· Amardeep Security Services · Decent Tailors, HTK · Deep Pradeep Engineering Works, Sangli · Desai Agencies, Sangli · Dhanshree Enterprises, Kolhapur · Dlllp Pange · Dlpak Enterprises, Sangli · Gujrath Energy Transmission Corporation · Gupta Enterprises · Kolhapur Gas Sevice, Jaysingpur ·
Laxml Bharatgas Services, JSP |
|||||||||||||||
|
|
|
|||||||||||||||
|
Customers : |
· Bhairunath Engg. Works, Mumbai · ICRA Limited, Mumbai · Messer Cutting and Welding, Gmbh · Parvati Machine Tools and Services, Pune · Patel Engineering, Thane · Skylon Engineers, Vadodara · Transel Corporation, Kolhapur ·
Triple A Engineering Works, Mumbai |
|||||||||||||||
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|
|||||||||||||||
|
No. of Employees : |
Not Available |
|||||||||||||||
|
|
|
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|
Bankers : |
· Bank of Baroda · HDFC Bank Limited · ICICI Bank Limited · State Bank of India, Industrial Finance Branch, Tara Chambers, Wakdewadi, Pune - Mumbai Road, Pune - 411003, Maharashtra, India · The Ratnakar Bank Limited, Sangli Main Branch, Near Trimurti Theatres, Vakharbhag, Sangli - 416416, Maharashtra, India · State Bank of Hyderabad, Pune Main Branch, 360/361, Narayan Peth, Opposite Gokhale Hall, Laxmi Road, Pune - 411030, Maharashtra, India ·
IDBI Bank Limited, Pune Camp Branch,
Sahajanand Complex, 2416, East Street, General Thimayya Road, Camp, Pune -
411001, Maharashtra, India |
|||||||||||||||
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|
|||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
R. V. Raichur and Associates Chartered Accountants |
|
Address : |
Flat No 14, Aditya Apartment, Agarkar Road, Tilakwadi, Belgaum –
590006, Karnataka, India |
|
Tel. No.: |
91-831-2431098 |
|
Mobile No.: |
91-9448112198 |
|
PAN No.: |
AALPR0894A |
|
|
|
|
Holding Company : |
Gestamp Powergear Windsteel Private Limited CIN No.:
U74990TN2011PTC080844 |
|
|
|
|
Enterprises over
which Key management personnel are able to exercise significant control : |
· Ghodawat Foods International Private Limited · Diana Watches and ancillaries Private Limited · Eveready Investments Private Limited · Topaz Investments Private Limited · Star Oxochem Private Limited · Ghodawat Panmasala Products (India) Private Limited · Ghodawat Agro Private Limited · M D Properties Private Limited · Star infosystem Private Limited · Star Flexipack Industries · Shreya Exports · Star Petrolinks · Star line Textiles · Citizenmills · Star Tech lnlra · Sou , Sushila Danchand Ghodawat Charitable Trust ·
Excelus Star Foodbev Private Limited |
CAPITAL STRUCTURE
After: 24.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1870672 |
Equity Shares |
Rs.10/- each |
Rs.18.707 Millions |
|
|
|
|
|
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
900000 |
Equity Shares |
Rs.10/- each |
Rs.9.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
9.000 |
9.000 |
|
(b) Reserves & Surplus |
|
(39.643) |
(39.879) |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
|
(30.643) |
(30.879) |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
369.893 |
454.347 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term liabilities |
|
0.891 |
0.890 |
|
(d) long-term provisions |
|
0.257 |
0.356 |
|
Total Non-current
Liabilities (3) |
|
371.041 |
455.593 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short term borrowings |
|
0.000 |
38.560 |
|
(b) Trade payables |
|
2.393 |
8.250 |
|
(c) Other current liabilities |
|
56.895 |
19.148 |
|
(d) Short-term provisions |
|
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
|
59.288 |
65.958 |
|
|
|
|
|
|
TOTAL |
|
399.686 |
490.672 |
|
|
|
|
|
|
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
333.606 |
392.993 |
|
(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 |
|
9.872 |
10.114 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
343.478 |
403.107 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
10.700 |
63.689 |
|
(c) Trade receivables |
|
42.506 |
20.820 |
|
(d) Cash and cash equivalents |
|
2.490 |
2.525 |
|
(e) Short-term loans and advances |
|
0.512 |
0.512 |
|
(f) Other current assets |
|
0.000 |
0.019 |
|
Total Current
Assets |
|
56.208 |
87.565 |
|
|
|
|
|
|
TOTAL |
|
399.686 |
490.672 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
|
NA |
154.711 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
|
NA |
132.479 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
|
22.232 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION |
|
|
62.112 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
18.362 |
(39.880) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
18.126 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
0.236 |
(39.880) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
0.236 |
(39.880) |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
|
2.36 |
(398.80) |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
|
NA |
(25.78) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
4.59 |
(8.13) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
(0.60) |
1.29 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
|
(12.07) |
(15.96) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
0.95 |
1.33 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
9.000 |
9.000 |
|
Reserves & Surplus |
(39.879) |
(39.643) |
|
Net
worth |
(30.879) |
(30.643) |
|
|
|
|
|
long-term borrowings |
454.347 |
369.893 |
|
Short term borrowings |
38.560 |
0.000 |
|
Total
borrowings |
492.907 |
369.893 |
|
Debt/Equity
ratio |
(15.963) |
(12.071) |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info
Agents |
Available in Report
(Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last one year |
Yes |
|
12] |
Profitability for last two years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
23] |
Banking Details |
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 |
No |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
UNSECURED LOAN
(Rs.
In Millions)
|
Particular |
As on 31.03.2012 |
As on 31.03.2011 |
|
LONG TERM
BORROWING |
|
|
|
Ghodawat Energy Private Limited |
251.687 |
254.187 |
|
Neeta Sanjay Ghodawat |
38.904 |
101.222 |
|
Sanjay Danchand Ghodawat |
30.910 |
30.909 |
|
Satish Danchand Ghodawat |
0.361 |
0.361 |
|
Shrenik Sanjay Ghodawat |
0.340 |
0.340 |
|
Sanjay Danchand Ghodawat - HUF |
0.361 |
0.361 |
|
Satish Danchand Ghodawat - HUF |
0.340 |
0.340 |
|
Advance from
customers |
|
|
|
Enercon India Limited |
46.990 |
66.627 |
|
|
|
|
|
Total |
369.893 |
454.347 |
Note: No Charges Exist for Company
FIXED ASSETS
Tangible Assets
· Land
· Building
· Machineries
· Air Conditioner
· Electrification
· Office Equipment
· Furniture and Fixture
· Computer and Printer
· Software
· Trolly Dumping
· Wind Mill
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.60.26 |
|
|
1 |
Rs.100.71 |
|
Euro |
1 |
Rs.83.27 |
INFORMATION DETAILS
|
Information Gathered
by : |
HTL |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
- |
|
--CREDIT LINES |
1~10 |
- |
|
--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 |
|
12 |
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.