MIRA INFORM REPORT
|
Report Date : |
23.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
BHAWANI INDUSTRIES LIMITED. (w.e.f. 15.09.2004) |
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Formerly Known
As |
Bhawani Industries Private Limited. |
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Registered
Office : |
G. T. Road, Ajnali, MSandi Gobindgarh-147301, Punjab. |
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Country : |
India |
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Financials (as on) : |
31.03.2013 |
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Date of
Incorporation : |
23.02.1999 |
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Com. Reg. No.: |
16-022272 |
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Capital
Investment / Paid-up Capital : |
Rs.97.535 Millions |
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CIN No.: [Company Identification
No.] |
U00000PB1999PLC022272 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
PTLB10048D |
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PAN No.: [Permanent Account No.] |
AABCB5105H |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturing of Steel Billets, HR strips and steel Pipes., |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (16) |
|
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 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. The company has incurred a heavy loss from its operation, borrowings of
the company has also increased during 2013 The rating also takes into consideration the delays by the company in
servicing its debt obligation. However, Business is active. Payments terms are reported to be slow. The company can be considered for business dealings on a 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 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Fund Based Limit ‘D’ |
|
Rating Explanation |
The company is in default expected to be in default soon. |
|
Date |
August, 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 DENIED
|
Name : |
Mr. Sanjay Narayani |
|
Designation : |
Account Head |
|
Contact No.: |
91-07837800110 |
|
Date : |
11.04.2013 |
LOCATIONS
|
Registered / Work Office: |
G. T. Road, Ajnali,mandi Gobindgarh-147301, Punjab. India |
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Tel. No.: |
91-1765-252811/12 / 326780/90 |
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Fax No.: |
91-1765-251485 |
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E-Mail : |
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Website : |
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Factory : |
Ganji Wada Main Road, Behind PTC Ground, Rajkot – 360003, Gujrat, India |
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Tel. No.: |
91-281-8018862 |
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Fax No.: |
91-281-2387665 |
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Email: |
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Corporate Office |
411, Best sky Tower, Netaji Subhash Place, Pitam Pura,New Delhi – 110034, India |
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Tel. No.: |
91-11-47017402-03 |
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Fax No.: |
91-11-47017400 |
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Email: |
DIRECTORS
As on: 30.09.2013
|
Name : |
Mr. Jai Parkash Goyal |
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Designation : |
Managing Director |
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Address : |
H.No.416, Sector-4, Block-C, Shastri Nagar, Mandigobindgarh - 147301, Punjab, India |
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Date of Birth/Age : |
20.10.1956 |
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Date of Appointment : |
01.09.2009 |
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DIN No.: |
00493511 |
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PAN No.: |
AFVPG8799J |
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Other Directorship
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Name : |
Mr. Sarwan Goyal |
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Designation : |
Whole-Time Director |
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Address : |
H.No.353, Sector-5, Block-B, Shastri Nagar, Mandigobindgarh – 147301, Punjab, India |
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Date of Birth/Age : |
05.10.1963 |
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Date of Appointment : |
01.06.2005 |
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DIN No.: |
00493573 |
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PAN No.: |
ACAPG9907E |
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Name : |
Mr. Amit Goyal |
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Designation : |
Whole-Time Director |
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Address : |
H.No.416, Sector-4, Block-C, Shastri Nagar, Mandigobindgarh - 147301, Punjab, India |
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Date of Birth/Age : |
20.11.1980 |
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Date of Appointment : |
01.09.2009 |
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DIN No.: |
02313274 |
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PAN No.: |
AIGPG3691R |
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Name : |
Mr. Naveen Singhal |
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Designation : |
Whole-Time Director |
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Address : |
H.No.107, Block 2B, St.No.4, Adarsh Nagar, Mandigobindgarh – 147301, Punjab, India |
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Date of Birth/Age : |
29.09.1975 |
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Date of Appointment : |
01.01.2011 |
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DIN No.: |
03405352 |
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PAN No.: |
AAYPK0767A |
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KEY EXECUTIVES
|
Name : |
Mr. Sanjay Narayani |
|
Designation : |
Account Head |
MAJOR SHAREHOLDERS
As on: 30.09.2013
SHAREHOLDING DETAILS FILE ATTACHED.
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
12.92 |
|
Directors or relatives of Directors |
84.85 |
|
Other top fifty shareholders |
2.23 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Steel Billets, HR strips and steel Pipes., |
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Products : |
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GENERAL INFORMATION
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No. of Employees : |
Information declined by Management. |
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Customers : |
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Bankers : |
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
--- |
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Auditors : |
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Name : |
Dutta Singla and Company Chartered Accountants |
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Address : |
#34 Sector-4 D, Battan Lal Road, Mandi Gobindgarh –
147301, |
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PAN No.: |
AAAFD8577H |
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Related Party: |
Ridhi Industries Limited. |
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CAPITAL STRUCTURE
As on: 31.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
Rs.10/- each |
Rs.200.000 Million |
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As on: 31.03.2013
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9753500 |
Equity Shares |
Rs.10/- each |
Rs.97.535
Million |
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|
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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 |
97.535 |
97.535 |
95.745 |
|
(b) Reserves & Surplus |
462.394 |
604.302 |
590.854 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
2.500 |
|
Total
Shareholders’ Funds (1) + (2) |
559.929 |
701.837 |
689.099 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
668.187 |
650.920 |
502.117 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
67.924 |
58.119 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
5.051 |
3.656 |
1.580 |
|
Total Non-current
Liabilities (3) |
673.238 |
722.500 |
561.816 |
|
|
|
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|
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(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
628.081 |
451.266 |
416.762 |
|
(b) Trade
payables |
1020.418 |
964.507 |
682.179 |
|
(c) Other
current liabilities |
171.900 |
70.187 |
42.457 |
|
(d) Short-term
provisions |
4.807 |
48.725 |
20.227 |
|
Total Current
Liabilities (4) |
1825.206 |
1534.685 |
1161.625 |
|
|
|
|
|
|
TOTAL |
3058.373 |
2959.022 |
2412.540 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1152.559 |
719.560 |
634.364 |
|
(ii)
Intangible Assets |
3.629 |
1.307 |
0.118 |
|
(iii)
Capital work-in-progress |
66.695 |
309.953 |
189.792 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
2.387 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
238.792 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1.687 |
59.991 |
37.598 |
|
(e) Other
Non-current assets |
0.000 |
4.139 |
2.656 |
|
Total Non-Current
Assets |
1465.749 |
1094.950 |
864.528 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a) Current
investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
783.516 |
951.959 |
678.277 |
|
(c) Trade
receivables |
412.552 |
357.904 |
384.625 |
|
(d) Cash
and cash equivalents |
81.012 |
111.016 |
73.169 |
|
(e)
Short-term loans and advances |
315.544 |
443.193 |
411.941 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
1592.624 |
1864.072 |
1548.012 |
|
|
|
|
|
|
TOTAL |
3058.373 |
2959.022 |
2412.540 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
5109.264 |
4477.480 |
4089.790 |
|
|
|
Other Income |
63.183 |
99.562 |
84.833 |
|
|
|
TOTAL (A) |
5172.447 |
4577.042 |
4174.623 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consume |
4163.861 |
3594.052 |
3214.120 |
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(39.431) |
(163.877) |
(8.764) |
|
|
|
Employee benefit expense |
85.703 |
79.126 |
61.271 |
|
|
|
Other expenses |
874.678 |
812.402 |
658.898 |
|
|
|
TOTAL (B) |
5084.811 |
4321.703 |
3925.525 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
87.636 |
255.339 |
249.098 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
234.064 |
191.577 |
112.568 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(146.428) |
63.762 |
136.530 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
61.996 |
49.911 |
40.023 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
(208.424) |
13.851 |
96.507 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(70.304) |
12.652 |
30.381 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
(138.120) |
1.199 |
66.126 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Income Tax for earlier year paid /
adjusted |
NA |
0.961 |
0.455 |
|
|
|
Transfer to General Reserve |
NA |
0.000 |
20.000 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
0.238 |
45.671 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
209.755 |
253.116 |
483.876 |
|
|
TOTAL EARNINGS |
209.755 |
253.116 |
483.876 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
2003.820 |
1554.007 |
1083.522 |
|
|
|
Stores & Spares |
14.067 |
12.440 |
4.420 |
|
|
|
Capital Goods |
17.448 |
7.904 |
85.917 |
|
|
TOTAL IMPORTS |
2035.335 |
1483.167 |
1173.859 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
8.65 |
0.12 |
6.91 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(2.67) |
0.03 |
1.58 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(4.08) |
0.31 |
2.36 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(7.58) |
0.52 |
4.34 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.37) |
0.02 |
0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.32 |
1.57 |
1.33 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.87 |
1.21 |
1.33 |
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 |
95.745 |
97.535 |
97.535 |
|
Reserves & Surplus |
590.854 |
604.302 |
462.394 |
|
Net
worth |
686.599 |
701.837 |
559.929 |
|
|
|
|
|
|
long-term borrowings |
502.117 |
650.920 |
668.187 |
|
Short term borrowings |
416.762 |
451.266 |
628.081 |
|
Total
borrowings |
918.879 |
1102.186 |
1296.268 |
|
Debt/Equity
ratio |
1.338 |
1.570 |
2.315 |
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 |
4089.790 |
4477.480 |
5109.264 |
|
|
|
9.479 |
14.110 |
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 |
4089.790 |
4477.480 |
5109.264 |
|
Profit |
66.126 |
1.199 |
(138.120) |
|
|
1.62% |
0.03% |
(2.70%) |
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 |
Yes |
|
5] |
Type of Business |
No |
|
6] |
Line of Business |
No |
|
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 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 |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
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 |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
PERFORMANCE REVIEW
During the year the Company has achieved net sales and other income of Rs.5172.447 Millions, as compared to Rs. 4577.042 Millions in the previous year. The Company Incurred a Loss (before Tax) of Rs.208.524 Millions, as compared to Rs. 13.851 Millions in the previous year. After making provision of income tax and other adjustments, the accumulated surplus of Rs.30.817 Million is being carried over to balance sheet as at 31.03.2013.
UNSECURED LOAN
Rs. In Millions
|
Particular |
As
on 31.03.2013 |
As
on 31.03.2012 |
|
Long-term
borrowings |
|
|
|
Intercorporate borrowing |
69.378 |
65.545 |
|
Loans and advances from directors |
38.130 |
31.817 |
|
Other loans and advances |
19.688 |
27.894 |
|
Total |
127.196 |
125.256 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10334314 |
12/12/2011 |
10,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJ ARAT - 390015, INDIA |
B31581754 |
|
2 |
10218664 |
31/03/2010 |
105,000,000.00 |
STATE BANK OF INDIA |
G.T. ROAD, MANDI GOBINDGARH, PUNJAB - 147301, INDI A |
A85849156 |
|
3 |
10013499 |
30/09/2013 * |
2,557,200,000.00 |
STATE BANK OF INDIA |
SME MANDI GOBINDGARH,FATEHGARH SAHIB, PUNJAB - 14 7301, INDIA |
B87983631 |
FIXED ASSETS
- Land
- Buildings
- Factory building
- Plant and equipment
- Factory equipments
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer 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.60.71 |
|
|
1 |
Rs.101.04 |
|
Euro |
1 |
Rs.83.77 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
|
|
|
|
|
Report Prepared
by : |
YOG |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
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 |
|
16 |
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.