MIRA INFORM REPORT
|
Report Date : |
26.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
HAZEMAG INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
6th Floor, Block-B, Ecospace Business Park, Action Area-II,
Plot No. IIF/11, Newtown, Rajarhat, Kolkata – 700156, West Bengal |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
11.03.2010 |
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|
|
|
Com. Reg. No.: |
21-143321 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.30.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74900WB2010PTC143321 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
The Company is engaged in supply, commissioning and
installation of crushing equipments like feeder breakers, impact roll crusher
etc. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
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 |
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|
|
|
Comments : |
Subject is an established company having moderate track record. The company has incurred huge accumulated losses, which has eroded net
worth of the company. Profitability of the company seems to be under
pressure. Business is active. Payment terms are slow and delayed. The company can be considered for 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 DECLINED
Management Non Co-operative (91-33-40174100)
LOCATIONS
|
Registered Office : |
6th Floor, Block-B, Ecospace Business Park, Action Area-II,
Plot No. IIF/11, Newtown, Rajarhat, Kolkata – 700156, West Bengal, India |
|
Tel. No.: |
91-33-30925000 / 30925004 / 40174100 / 40174101 / 40174101 / 40174102 |
|
Fax No.: |
91-33-30925010 / 30925011 / 40174110 |
|
E-Mail : |
DIRECTORS
As on 05.06.2013
|
Name : |
Mr. Sabyasachi Mishra |
|
Designation : |
Director |
|
Address : |
Quarter No. 1N-6, OCL Colony, Rajgangpur – 770017, Orissa, India |
|
Date of Birth/Age : |
16.09.1967 |
|
Date of Appointment : |
11.03.2010 |
|
DIN No.: |
00233852 |
|
PAN No.: |
ADBPN5171G |
|
|
|
|
Name : |
Mr. Kailash Kumar Agrawal |
|
Designation : |
Alternate Director |
|
Address : |
1901, Horizon Tower-4, Uniworld City, Newtown, Kolkata -700156, West Bengal,
India |
|
Date of Birth/Age : |
10.07.1963 |
|
Date of Appointment : |
11.02.2014 |
|
DIN No.: |
02393634 |
|
|
|
|
Name : |
Mr. Heribert Breuer |
|
Designation : |
Director |
|
Address : |
An Haus Velde 9, Kempen – 47906, Germany |
|
Date of Birth/Age : |
30.06.1950 |
|
Date of Appointment : |
20.11.2012 |
|
DIN No.: |
02279030 |
|
Passport No.: |
572507957 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 05.06.2013
|
Names of Shareholders |
|
No. of Shares |
|
Allmineral Asia Private Limited, |
|
2999950 |
|
Sabyasachi Mishra |
|
10 |
|
Total |
|
2999960 |
As on 05.06.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is engaged in supply, commissioning and
installation of crushing equipments like feeder breakers, impact roll crusher
etc. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
|
|
|
|
Bankers : |
ICICI Bank Limited, Landmarkrace Cource Circle, Alkapuri, Vadodara - 390015, Gujarat, India |
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
V Sankar Aiyar and Company Chartered Accountants |
|
Address : |
202 and 301, Satyam Cinema Complex, Ranjit Nagar Community Centre, New
Delhi – 110008, India |
|
Tel. No.: |
91-11-25702074 / 25702691 / 25704639 |
|
Fax No.: |
91-11-25705010 |
|
E-Mail : |
|
|
PAN No.: |
AAAFV0781D |
CAPITAL STRUCTURE
As on 05.06.2013
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 |
|
|
|
|
|
|
2999960 |
Equity Shares |
Rs.10/- each |
Rs.30.000 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 |
30.000 |
30.000 |
0.500 |
|
(b) Reserves & Surplus |
(47.808) |
(26.698) |
(0.421) |
|
(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) |
(17.808) |
3.302 |
0.079 |
|
|
|
|
|
|
(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 |
0.100 |
0.571 |
0.367 |
|
Total Non-current
Liabilities (3) |
0.100 |
0.571 |
0.367 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
8.800 |
|
(b) Trade
payables |
51.516 |
13.819 |
41.401 |
|
(c) Other
current liabilities |
51.110 |
44.243 |
35.665 |
|
(d) Short-term
provisions |
0.073 |
0.133 |
0.123 |
|
Total Current
Liabilities (4) |
102.699 |
58.195 |
85.989 |
|
|
|
|
|
|
TOTAL |
84.991 |
62.068 |
86.435 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
36.407 |
39.179 |
40.225 |
|
(ii)
Intangible Assets |
0.142 |
0.293 |
0.585 |
|
(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 |
0.030 |
0.030 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1.545 |
3.056 |
0.700 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
38.124 |
42.558 |
41.510 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
22.008 |
10.622 |
1.839 |
|
(c) Trade
receivables |
13.620 |
1.038 |
25.620 |
|
(d) Cash
and cash equivalents |
1.979 |
3.015 |
9.793 |
|
(e)
Short-term loans and advances |
9.134 |
4.741 |
7.581 |
|
(f) Other
current assets |
0.126 |
0.094 |
0.092 |
|
Total
Current Assets |
46.867 |
19.510 |
44.925 |
|
|
|
|
|
|
TOTAL |
84.991 |
62.068 |
86.435 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
106.755 |
14.877 |
60.118 |
|
|
|
Other Income |
4.998 |
3.047 |
2.088 |
|
|
|
TOTAL (A) |
111.753 |
17.924 |
62.206 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of Stock-in-Trade |
107.672 |
18.518 |
42.684 |
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(11.387) |
(8.783) |
(1.838) |
|
|
|
Employees benefits expense |
8.248 |
8.570 |
5.791 |
|
|
|
Other expenses |
24.282 |
21.935 |
14.287 |
|
|
|
TOTAL (B) |
128.815 |
40.240 |
60.924 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(17.062) |
(22.316) |
1.282 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.543 |
0.117 |
0.428 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(17.605) |
(22.433) |
0.854 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
3.505 |
3.844 |
1.275 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(21.110) |
(26.277) |
(0.421) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(21.110) |
(26.277) |
(0.421) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(26.698) |
(0.421) |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(47.808) |
(26.698) |
(0.421) |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Stock-in-trade |
4.526 |
10.797 |
18.172 |
|
|
TOTAL IMPORTS |
4.526 |
10.797 |
18.172 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(7.04) |
(15.01) |
(8.42) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(18.89) |
(146.60) |
(0.68) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(19.77) |
(176.63) |
(0.70) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(24.85) |
(42.36) |
(0.49) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
1.19 |
(7.96) |
(5.33) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
111.39 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.46 |
0.34 |
0.52 |
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 |
0.500 |
30.000 |
30.000 |
|
Reserves & Surplus |
(0.421) |
(26.698) |
(47.808) |
|
Net
worth |
0.079 |
3.302 |
(17.808) |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
8.800 |
0.000 |
0.000 |
|
Total
borrowings |
8.800 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
111.392 |
0.000 |
0.000 |
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 |
60.118 |
14.877 |
106.755 |
|
|
|
-75.254 |
617.584 |
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 |
60.118 |
14.877 |
106.755 |
|
Profit / (Loss) |
(0.421) |
(26.277) |
(21.110) |
|
|
(0.70%) |
(176.63%) |
(19.77%) |
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 |
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 |
No |
|
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 |
No |
|
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 |
Note:
The registered office of the company has been shifted from
Ecospace Business Park, Action Area II, Plot No.II, Block B, 6th
Floor, New Town, Rajarhat, Kolkata – 700156, West Bengal, India to present
address w.e.f. 07.203.2011
COMPANY OVERVIEW
The Company was incorporated on 11th March 2010 as a private limited company under the Companies Act, 1956. The Company is a subsidiary of Hazemag and EPR, GmbH, a Germany based international operating mechanical engineering company, specialized in the development, design, manufacture and supply of plants and machinery for materials processing and crushing for mining, tunneling and construction equipments. The Company is engaged in supply, commissioning and installation of crushing equipments like feeder breakers, impact roll crusher etc.
BUSINESS OPERATIONS
AND FINANCIAL PERFORMANCE
During the year, the Company has achieved a sales turnover of Rs.106.754 Millions against Rs.14.878 Millions in previous year. Loss for the year Rs.21.110 Millions as compared to loss of Rs.26.277 Millions for the previous year.
As compared to last year the there is a 700 % growth in sales and operating loss reduced by 20% form previous year.
Order booking for the year was Rs.230.000 Millions Rs.236.000 Millions last year. The company completed the year with an order backlog of Rs.209.000 Millions as against Rs.238.000 Millions (including spares) in the previous year. Some of the significant orders bagged during the year are mentioned below:
- Raw Material handling system for Rohit Ferro Tech Limited.;
- Feeder Breakers for Ultratech Cement Limited and Gayatri Projects Limited.;
- Lime sizing unit for Shapoorji Pallonji and Company Limited.
2012-13 had been a challenging year for the capital goods sector. Various policy and economic factors were responsible for significantly reducing fresh investments and order finalizations in the power and steel sector, affecting order booking and resulting in lower order backlog. The order inflows were lower compared to the previous year as the economy witnessed a slowing down of growth.
FUTURE OUTLOOK
The present unstable condition in both international and domestic markets has not been favourable for the growth of the capital goods industry. However, the high level of technology and the reputation enjoyed by the products manufactured by the Company are expected to keep the demand of Company’s products stable and with some improvement in the current and the future years.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10393459 |
19/12/2012 |
34,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B64712656 |
* Date of charge modification
FIXED ASSETS
- Building
- Furniture and
Fixtures
- Office
equipment
- EDO
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.61.12 |
|
|
1 |
Rs.102.71 |
|
Euro |
1 |
Rs.84.52 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NTH |
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.