MIRA INFORM REPORT
|
Report Date : |
17.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
TENOVA HYPERTHERM PRIVATE LIMITED
(w.e.f 14.07.2008) |
|
|
|
|
Formerly Known
As : |
TECHINT HYPERTHERM PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
2093, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
01.02.2006 |
|
|
|
|
Com. Reg. No.: |
11-159394 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.45.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28900MH2006PTC159394 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMT13004F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCT1393H |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is
engaged in the business of design, manufacturing and supply of thermal process
equipment, especially steel mill reheating furnaces for continuous strip
processing line, kilns for refractory, ceramics and minerals. |
|
|
|
|
No. of Employees
: |
Information denied by the management
|
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1331000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The company has incurred a loss from its operation during 2013. However, trade relations are reported to be fair. Business is active.
Payments are reported to be slow but correct. The company can be considered for business dealing with some
cautions. |
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
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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating cash credit A+ (Suspended) |
|
Date |
October 23, 2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating A1+ (Suspended) |
|
Date |
October 23, 2013 |
NOTE:
Reason for Suspension: The rating takes into consideration
account of non-cooperation by company with crisil effort to undertake a review
of the ratings outstanding’s.
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
MANAGEMENT NON CO-OPERATIVE (91-22-66810200)
LOCATIONS
|
Registered Office : |
2093, |
|
Tel. No.: |
91-22-66810200 / 28477702 |
|
Mobile No.: |
91-9324186705 (Mr. Abhijeet) 91-9322725125 (Mr. Deepak) |
|
Fax No.: |
91-22-28477703 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
2000 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Factory : |
Located at Rebale, Navi Mumbai, Maharashtra, India |
DIRECTORS
As on 27.09.2013
|
Name : |
Mr. Gope Hassanand Sajnani |
|
Designation : |
Chairman |
|
Address : |
18, 2nd Nav Nirman, 16th Road, Santacruz (West),
Mumbai – 400 054, Maharashtra, India |
|
Date of Birth/Age : |
21.10.1941 |
|
Qualification : |
Engineer |
|
Date of Appointment : |
01.02.2006 |
|
PAN No.: |
ABRPS7395A |
|
DIN No.: |
01828735 |
|
|
|
|
Name : |
Mr. Vijay Raghunath Joshi |
|
Designation : |
Managing Director |
|
Address : |
Bhagyashree, 2nd Floor, Anandnagar, Nityanand Marg, Andheri
(East), Mumbai – 400069, Maharashtra, India |
|
Date of Birth/Age : |
12.02.1954 |
|
Qualification : |
Engineer |
|
Date of Appointment : |
31.07.2006 |
|
PAN No.: |
ACTPJ6412C |
|
DIN No.: |
00208455 |
|
|
|
|
Name : |
Mr. Suresh Kishinchand Sajnani |
|
Designation : |
Director (Commercial) |
|
Address : |
602, Acme Harmony Building No.1, Behind Poonam Nagar, Off Mahakali Caves
Road, Andheri, (East), Mumbai – 400093, Maharashtra, India |
|
Date of Birth/Age : |
07.10.1964 |
|
Date of Appointment : |
31.07.2006 |
|
PAN No.: |
AKJPS5463N |
|
DIN No.: |
00480942 |
|
|
|
|
Name : |
Mr. Nicola Bettion Cavero |
|
Designation : |
Director |
|
Address : |
VIA Umberto 1, 32, Isola Del Giglio, Italy, 58013 |
|
Date of Birth/Age : |
23.09.1958 |
|
Date of Appointment : |
31.07.2006 |
|
DIN No.: |
01225162 |
|
|
|
|
Name : |
Mr. Maurizio Emilo Parodi |
|
Designation : |
Director |
|
Address : |
VIA Piaggio, 24, Genova, Italy, 16100 |
|
Date of Birth/Age : |
21.08.1959 |
|
Date of Appointment : |
31.07.2006 |
|
DIN No.: |
01225212 |
|
|
|
|
Name : |
Mr. Gianluigi Nova |
|
Designation : |
Director |
|
Address : |
VIA A Volta 63, Cassina, Rizzardi, Itlay, 22070 |
|
Date of Birth/Age : |
14.01.1947 |
|
Date of Appointment : |
12.05.2008 |
|
DIN No.: |
05250410 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 27.09.2013
|
Names of Shareholders |
No. of Shares |
%age |
|
Sajnani Thermal Technologies Private Limited, India |
1170000 |
26.00 |
|
HEPL Engineers Private Limited, India |
1035000 |
23.00 |
|
|
2295000 |
51.00 |
|
Total |
4500000 |
100.00 |
As on 27.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
51.00 |
|
Bodies corporate |
49.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged
in the business of design, manufacturing and supply of thermal process
equipment, especially steel mill reheating furnaces for continuous strip
processing line, kilns for refractory, ceramics and minerals. |
GENERAL INFORMATION
|
No. of Employees : |
Information denied by the management
|
||||||||||||
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|
|
||||||||||||
|
Bankers : |
Yes Bank Limited, 9th Floor, Nehru Centre Discovery of
India, Dr. Annie Besant Road, Worli, Mumbai – 400018, Maharashtra, India |
||||||||||||
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|
||||||||||||
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Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Haribhakti and Company Chartered Accountants |
|
Address : |
42, Free Press House, 4th Floor, 215, Nariman Point, Mumbai
– 400021, |
|
Tel. No.: |
91-22-86391101-4/ 2287 1099 |
|
Fax No.: |
91-22-22856237 |
|
E-Mail : |
|
|
Website : |
|
|
PAN No.: |
AAAFH2010F |
|
|
|
|
Holding Company : |
œ Tenova Spa,
Italy |
|
|
|
|
Fellow Subsidiary
company : |
œ Tenova Multiform Private Limited |
|
|
|
|
Enterprises which are owned, or have
significant influence of or are partners with Key management personnel and
their relatives : |
œ Sajnani Thermal Technologies Private Limited œ HEPL Engineers Private Limited œ HEPL Technicon Private Limited |
CAPITAL STRUCTURE
As on 31.03.2013
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 |
|
|
|
|
|
|
4500000 |
Equity Shares |
Rs.10/- each |
Rs.45.000 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 |
45.000 |
45.000 |
45.000 |
|
(b) Reserves & Surplus |
287.892 |
290.349 |
252.676 |
|
(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) |
332.892 |
335.349 |
297.676 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
4.885 |
2.985 |
3.135 |
|
Total
Non-current Liabilities (3) |
4.885 |
2.985 |
3.135 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short term borrowings |
277.777 |
200.497 |
0.000 |
|
(b) Trade payables |
49.576 |
173.280 |
198.666 |
|
(c) Other current liabilities |
210.822 |
511.175 |
455.713 |
|
(d) Short-term provisions |
429.122 |
290.078 |
321.987 |
|
Total
Current Liabilities (4) |
967.297 |
1175.030 |
976.366 |
|
|
|
|
|
|
TOTAL |
1305.074 |
1513.364 |
1277.177 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
22.369 |
21.019 |
22.570 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.001 |
0.001 |
0.000 |
|
(c) Deferred tax assets (net) |
3.280 |
2.083 |
2.849 |
|
(d) Long-term Loan
and Advances |
16.531 |
15.303 |
6.268 |
|
(e) Other Non-current assets |
54.216 |
68.877 |
80.531 |
|
Total
Non-Current Assets |
96.397 |
107.283 |
112.218 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
11.198 |
6.456 |
3.656 |
|
(c) Trade receivables |
459.892 |
764.354 |
481.938 |
|
(d) Cash and cash equivalents |
95.855 |
47.421 |
54.088 |
|
(e) Short-term loans and advances |
239.841 |
234.123 |
220.844 |
|
(f) Other current assets |
401.891 |
353.727 |
404.433 |
|
Total
Current Assets |
1208.677 |
1406.081 |
1164.959 |
|
|
|
|
|
|
TOTAL |
1305.074 |
1513.364 |
1277.177 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operation |
1196.990 |
140.610 |
1089.870 |
|
|
|
Other Income |
32.480 |
27.950 |
27.430 |
|
|
|
TOTAL |
1229.470 |
168.560 |
1117.300 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
1223.440 |
111.680 |
973.100 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
EXCEPTIONAL AND EXTRAORDINARY ITEMS AND TAX |
6.030 |
56.880 |
144.200 |
|
|
|
|
|
|
|
|
|
Less/ Add |
PRIOR PERIOD
INCOME |
7.400 |
0.000 |
31.430 |
|
|
|
|
|
|
|
|
|
|
PROFIT / LOSS
BEFORE TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT / LOSS
AFTER TAX |
(0.240) |
37.670 |
115.290 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(0.55) |
8.37 |
25.62 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(0.02) |
22.35 |
10.32 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.83 |
0.60 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.25 |
1.20 |
1.19 |
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 |
45.000 |
45.000 |
45.000 |
|
Reserves & Surplus |
252.676 |
290.349 |
287.892 |
|
Net
worth |
297.676 |
335.349 |
332.892 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
200.497 |
277.777 |
|
Total
borrowings |
0.000 |
200.497 |
277.777 |
|
Debt/Equity
ratio |
0.000 |
0.598 |
0.834 |
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 |
1089.870 |
140.610 |
1196.990 |
|
|
|
(87.098) |
751.284 |
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 |
1089.870 |
140.610 |
1196.990 |
|
Profit |
115.290 |
37.670 |
(0.240) |
|
|
10.58% |
26.79% |
(0.02%) |
LOCAL AGENCY FURTHER INFORMATION
NOTE: Current
Maturities of Long Term Debts is Not Available.
|
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 |
Yes |
|
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 |
No |
|
10] |
Designation of contact
person |
No |
|
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 |
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 |
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 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10308206 |
19/11/2013 * |
484,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. |
B90609850 |
|
2 |
10100107 |
15/12/2011 * |
450,000,000.00 |
Bank of India |
Sakinaka Mid Corporate Br., Sagar Tech Plaza, "B", Andheri-Kurla
Road, Andheri (E), Sakinaka, Mumbai, Maharashtra - 400072, INDIA |
B29438033 |
* Date of charge modification
OPERATIONS
In this financial
year, there has been a lot of pressure on the operating margins due to increase
in the cost of projects. These projects are of turnkey nature and have come to
installation phase. The projects are from PSUs where delays and unexpected
costs come up during the installation phase. This is the main reason for
increase in costs and pressure on margins.
MARKET OUTLOOK
In general, the
market has shown effects of slowdown in GDP with reduced investment in steel
sector which has affected new order acquisition. Added to this, the general
elections in April 2014 has also added to the effect of slowdown since the investors
are becoming a bit cautious therefore the decision making process has become
slower.
In addition, the
steel market globally has also slowed down. This is a part of cyclic nature of
the industry.
However, there are
plans to make Hypertherm as global engineering hub for furnaces and also a hub
for complete execution of the small capacity reheating furnaces and that should
provide a lot of opportunities in future. There are also some interesting new
projects that are progressing, though slowly and coming to conclusion. Some of
these are from outside India.
The situation should improve starting from beginning of 2014.
FIXED ASSETS
œ
Building
œ
Furniture and Fixture
œ
Plant and Equipment
œ
Vehicles
œ
Office Equipment
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 records 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] 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
: |
RAS |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
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 |
|
28 |
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.