MIRA
INFORM REPORT
|
Report Date : |
01.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
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Registered
Office : |
240, Shankar Sadan, Sion (East), Mumbai-400022, |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
26.10.1983 |
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Com. Reg. No.: |
BOM/BNK/174 |
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Capital Investment
/ Paid-up Capital : |
Rs.1107.273 Million |
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License No.: |
DBOD/UBD/MH.370-09.01.1984 |
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Legal Form : |
Co-Operative Bank having Limited Liability of Members. |
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Line of Business
: |
Providing of Banking and Financial Services including
commercial Banking, Treasury and Forex Operations. |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (63) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established and reputed co-operative bank having fine
track record. Financial positon of the bank is sound. Fundamentals are strong. Trade relations are reported as fair. Business is active. Payments
terms are reported to be regular and as per commitment. The bank can be considered normal for business dealings at usual trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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
N E W S
As per the latest IMF study, the total weigh of emerging markets in the GDP
of the world on a purchasing power parity basis has seen a sizeable shift. It
highlights how as against 51 % in 2005, the emerging economies now account for
close to 56 % of the global purchasing power GDP as per the latest survey. And
with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the their share goes up further
in the coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The
prospects of the India’s economy have been seriously compromised due to
political corruption. High inflation, poor standard of living are to a great
extent a result of rampant corruption in the country. China on the other hand,
seems to be facing diametrically opposite challenge. American hedge fund
manager Jim Chanos has been keenly following the political and economic
development in the dragon economy and has figured out something that is quite
worrying. He is of the view that the Chinese economy could be heading toward
trouble on account of new Chinese President Xi Jingping’s very aggressive
anti-corruption drive. Chanos believes tat many things such as apartment sales,
luxury products, etc. were largely bought with dirty money. And it is now
beginning to impact consumption. This may indeed be bad news for an economy
that is struggling to transition from an investment-driven export-oriented
economy to a domestic consumption-driven economy.
A study published by Firstpost has revealed that asset classes like real
estate and equities were the biggest beneficiaries of the liberalization
policies. A firm called Ciane Analytics studied returns from assets
including equities, gold, fixed deposits, G-Secs and real estate since 1991.
Real estate outperformed every other asset classes during the 23-year period
with an annualized return of 20 % ! Equities came in second with annualized
return of 15.5 % ! However, while these returns may seem mouthwatering, the
fact is that the return from equities adjusted for inflation came down to just
7.1 %.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
. India seeks MFN status from Pakistan ahead of meeting
. Ukrain’s clashes with rebels hinder MH17 crash investigation
. India exploring merger of state-owned hydro PSUs
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs 10000 mn.
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
31-03-2014.
INFORMATION DECLINED
MANAGEMENT NON – COOPERATIVE (91-22-24014197)
LOCATIONS
|
Registered Office : |
240, Shankar Sadan, Sion (East), Mumbai-400022, |
|
Tel. No.: |
91-22-24014190/24014197/24095158/57 |
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Fax No.: |
91-22-25910431 |
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E-Mail : |
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Website : |
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Administrative Office: |
Unit No. 1, S. Pratap Singh Industrial Estate, L.B.S. Marg, Bhandup
(West), Mumbai-400078, |
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Central Office: |
S. Pratap Singh Industrial Estate, Unit No. 1, L.B.S. Marg, Bhandup
(West), Mumbai-400078, |
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Tel No.: |
91-22-25910431 |
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Branch Office: |
1st Floor, Gurudwara Building, 264, Shaheed Bhagat Singh
Marg, Fort, Mumbai – 400001, Maharashtra, India |
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Branches : |
Located at
Maharashtra · Mumbai · Thane · Raigad · Ratnagiri · Pune · Nashik · Aurangabad · Kolhapur · Nanded · Delhi · Karnataka · Goa |
DIRECTORS
As on 31.03.2013
|
Name : |
Mr. S Charanjit Singh Chadha |
|
Designation : |
Chairman |
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|
Name : |
Mr. S Waryam Singh |
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Designation : |
Vice - Chairman |
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Name : |
Mr. Joy Thomas |
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Designation : |
Managing Director |
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|
Name : |
Mr. Resham Singh |
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Designation : |
Director |
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|
Name : |
Mr. Daljit Singh Bal |
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Designation : |
Director |
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Name : |
Mr. Jaginder singh Palla |
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Designation : |
Director |
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Name : |
Mr. Rajneet Singh |
|
Designation : |
Director |
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|
Name : |
Mr. Gurnam Singh Hothi |
|
Designation : |
Director |
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|
Name : |
Mrs. Parmeet Sodhi |
|
Designation : |
Director |
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Name : |
Mr. Brij Bhushan Handa |
|
Designation : |
Director |
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|
Name : |
Mr. Balbir Singh Kochhar |
|
Designation : |
Director |
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|
Name : |
Mr. Surjit Singh Narang |
|
Designation : |
Director |
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|
Name : |
Mr. Surjit Singh Arora |
|
Designation : |
Director |
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|
Name : |
Mr. Jagdish R. Mookhey |
|
Designation : |
Director |
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|
Name : |
Mrs. Trupti Bane |
|
Designation : |
Director |
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|
Name : |
Mr. Jasvinder Singh Banwait |
|
Designation : |
Director |
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|
Name : |
Mrs. Mukti Bavisi |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. H.K. Karanth |
|
Designation : |
General Manager |
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|
Name : |
Mr. L M Kamble |
|
Designation : |
General Manager |
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|
Name : |
Mrs. Manjit Kaur I.S. |
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Designation : |
Joint General Managers |
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|
Name : |
Mrs. Meghana Gokhale |
|
Designation : |
Joint General Managers |
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|
Name : |
Mr. Surinderpal Singh R.S. |
|
Designation : |
Joint General Managers |
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|
Name : |
Mr. Atul Thakker |
|
Designation : |
Vice President (I.T.) |
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|
Name : |
Mrs. Manisha Nerurkar |
|
Designation : |
Deputy General Managers |
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|
Name : |
Mrs. Aarti A Desai |
|
Designation : |
Deputy General Managers |
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Name : |
Mrs. Karmen Patric Rebello |
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Designation : |
Deputy General Managers |
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Name : |
Mrs. Jasvinder Kaur Anand |
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Designation : |
Deputy General Managers |
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|
Name : |
Mr. Parag S Dalvi |
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Designation : |
Deputy General Managers |
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|
Name : |
Mrs. Geeta Kashmir Singh |
|
Designation : |
Deputy General Managers |
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|
Name : |
Mrs. Rebecca B Solomon |
|
Designation : |
Deputy General Managers |
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|
Name : |
Mrs. Shiny Mithbaokar |
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Designation : |
Deputy General Managers |
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|
Name : |
Mr. Sadananda R Shirali |
|
Designation : |
Deputy General Managers |
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|
Name : |
Mr. Charanjit Singh Bhatia |
|
Designation : |
Assistant General Manager |
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|
Name : |
Mr. Amarjit Singh Matta |
|
Designation : |
Assistant General Manager |
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|
Name : |
Ms. Sunita Gouthaman |
|
Designation : |
Assistant General Manager |
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|
Name : |
Mr. Sanjeev Shere |
|
Designation : |
Assistant General Manager |
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|
Name : |
Mr. Sanjeev S Shere |
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Designation : |
Assistant General Manager |
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Name : |
Mr.Nithyanand A Shetty |
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Designation : |
Assistant Vice President |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
NOT AVAILABLE
BUSINESS DETAILS
|
Line of Business : |
Providing of Banking and Financial Services including
commercial Banking, Treasury and Forex Operations. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
|
|
|
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Bankers : |
·
Saraswat Co-Operative Bank Limited ·
HDFC Bank ·
Bank of India |
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Banking
Relations : |
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Statutory Auditors : |
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Name : |
D.B. Ketkar and Company Chartered Accountant |
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Arbitrators: |
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Name: |
Mr. S.V. Tinaikar Mr. J.S. Patil |
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Solicitors: |
Purnanand and Company |
CAPITAL STRUCTURE
As on 31.03.2013
|
Authorised Capital |
Rs. In Millions |
|
|
|
|
(60000000 Shares of Rs. 25/- each) |
1500.000 |
|
Subscribed Capital |
1107.273 |
|
Amount Call up: |
1107.273 |
|
On 44004574 Shares of Rs. 25 /- each |
1100.114 |
|
On 71583 Shares of Rs. 100/- each |
7.158 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
PARTICULAR |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
CAPITAL AND
LIABILITIES |
|
|
|
|
|
|
|
|
|
Capital |
1107.273 |
854.606 |
798.299 |
|
Reserve Fund and Other Reserves |
3782.153 |
3511.003 |
2197.975 |
|
Deposit and Other Accounts |
44531.356 |
34180.543 |
28273.800 |
|
Borrowings |
1105.261 |
1333.290 |
894.736 |
|
Bills for collection being bills receivable as per contra |
9.390 |
2175.951 |
21.767 |
|
Branch Adjustment |
200.289 |
1.604 |
2.717 |
|
Overdue interest reserve |
259.797 |
224.739 |
348.244 |
|
Interest Payable |
142.580 |
223.843 |
159.775 |
|
Other Liabilities |
773.726 |
1019.892 |
1393.163 |
|
Profit and Loss |
504.334 |
387.324 |
291.594 |
|
|
|
|
|
|
TOTAL |
52416.159 |
43912.795 |
34382.070 |
|
|
|
|
|
|
PROPERTY AND
ASSETS |
|
|
|
|
|
|
|
|
|
Cash |
2663.522 |
2223.107 |
2114.823 |
|
Balances with Other Banks |
1255.121 |
1150.410 |
1596.158 |
|
Investments |
12523.424 |
8812.663 |
7248.493 |
|
Advances |
30875.985 |
25233.022 |
20798.758 |
|
Bills for collection being bills receivable as per contra |
9.390 |
2175.951 |
21.767 |
|
Interest Receivable |
432.621 |
394.343 |
284.837 |
|
Overdue interest reserve |
259.797 |
224.739 |
348.244 |
|
Fixed Assets |
3167.633 |
2564.343 |
990.003 |
|
Other Assets |
1106.980 |
1012.531 |
871.121 |
|
Non-banking assets acquired in satisfaction claims |
121.686 |
121.686 |
107.866 |
|
|
|
|
|
|
TOTAL |
52416.159 |
43912.795 |
34382.070 |
PROFIT & LOSS
ACCOUNT
|
PARTICULAR |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
INCOME |
|
|
|
|
Interest and Discount |
5026.874 |
3993.307 |
2945.961 |
|
Commission |
42.589 |
42.511 |
30.403 |
|
Income of trading (Net) |
79.575 |
37.114 |
22.993 |
|
Dividend |
0.002 |
0.117 |
0.239 |
|
Other Receipts |
|
|
|
|
i.
Bank Charges |
46.191 |
45.441 |
41.555 |
|
ii.
Rent Receivable on lockers |
10.377 |
8.991 |
7.272 |
|
iii.
Profit on sale of assets |
200.804 |
0.170 |
0.140 |
|
iv.
Miscellaneous Income |
77.971 |
57.642 |
31.890 |
|
|
|
|
|
|
Bad debts provision reversed to the extent of written off |
6.348 |
87.506 |
174.156 |
|
Revaluation reserve written bank |
65.000 |
0.000 |
0.000 |
|
|
|
|
|
|
TOTAL |
5555.731 |
4272.799 |
3254.609 |
|
|
|
|
|
|
EXPENDITURE |
|
|
|
|
|
|
|
|
|
Interest on Deposits, Borrowings, etc |
3329.550 |
2522.850 |
1805.997 |
|
Salaries and allowances |
414.067 |
332.429 |
297.877 |
|
Rent, Taxes, Insurance, Lightning, etc |
153.587 |
96.510 |
70.493 |
|
Legal Charges |
0.126 |
0.105 |
0.176 |
|
Postage, Telegram and Telephone charges |
28.885 |
19.247 |
13.021 |
|
Audit fees & Professional Charges |
37.047 |
18.377 |
17.619 |
|
Depreciation / Amortisation of Assets |
253.334 |
114.718 |
98.527 |
|
Printing Stationery and Advertisement |
|
|
|
|
i. Printing and Stationery |
22.873 |
14.552 |
12.661 |
|
ii. Advertisements |
77.567 |
49.568 |
29.903 |
|
|
|
|
|
|
Other Expenditure: |
|
|
|
|
Repairs and Maintenance of assets |
69.773 |
42.688 |
34.196 |
|
Premium paid to DICGC |
35.183 |
28.139 |
25.316 |
|
Travelling and Conveyance |
7.658 |
3.677 |
3.799 |
|
Security Charges |
29.353 |
19.113 |
20.541 |
|
Amortisation of Investments |
7.429 |
6.448 |
6.314 |
|
Amortisation of Cost of Acquired Bank |
110.520 |
113.108 |
113.108 |
|
Bad Debts Written Off |
6.388 |
97.544 |
174.156 |
|
Other Expenses |
128.162 |
76.245 |
61.192 |
|
|
|
|
|
|
Provisions |
|
|
|
|
Provision Against Std. Assets |
26.700 |
18.000 |
4.551 |
|
Provision for Other Contingent Liabilities |
2.512 |
0.257 |
2.623 |
|
Provision for Investment Depreciation Reserve |
0.000 |
90.181 |
65.224 |
|
Provision for Impaired Assets – NDCC |
10.614 |
5.629 |
0.000 |
|
Provision for bad and doubtful debts |
35.000 |
0.000 |
0.000 |
|
Special Reserve u/s. 36(1) |
4.500 |
1.700 |
0.000 |
|
|
|
|
|
|
Income Tax Expenses |
|
|
|
|
Current Tax |
239.304 |
201.880 |
100.377 |
|
Deffered Tax |
21.265 |
12.510 |
5.344 |
|
|
|
|
|
|
TOTAL EXPENSES |
5051.397 |
3885.475 |
2963.015 |
|
|
|
|
|
|
NET PROFIT AFTER
TAX |
504.334 |
387.324 |
291.594 |
|
|
|
|
|
|
Total |
5555.731 |
4272.799 |
3254.609 |
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 |
798.299 |
854.606 |
1107.273 |
|
Reserves & Surplus |
2197.975 |
3511.003 |
3782.153 |
|
Net
worth |
2996.274 |
4365.609 |
4889.426 |
|
|
|
|
|
|
Borrowings |
894.736 |
1333.290 |
1105.261 |
|
Total
borrowings |
894.736 |
1333.290 |
1105.261 |
|
Debt/Equity
ratio |
0.299 |
0.305 |
0.226 |
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) |
|
Interest and Discount |
2945.961 |
3993.307 |
5026.874 |
|
|
|
35.552 |
25.882 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Interest and Discount |
2945.961 |
3993.307 |
5026.874 |
|
Profit |
291.594 |
387.324 |
504.334 |
|
|
9.90% |
9.70% |
10.03% |
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 |
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 |
No |
ECONOMIC SCENARIO:
Global economic development over the last few months, present a mixed picture. US GDP estimates for Q4 for 2012 indicate a tentative upturn on the back of improvement in housing and payroll employment. However, US macroeconomics prospects are clouded by the uncertainty surrounding the temporary appropriations and debt ceiling. In the Euro area, plagued by contingent risks of political uncertainty and adjustment fatigue, GDP fell in consecutive quarters. While some emerging and developing economies including China are gradually returning a faster growth, activity is slowing in other countries due to weak external demand and slack domestic investment. International non-fuel commodity prices have softened, but fuel prices have remained firm, despite the growth slowdown, threatening persistent inflationary pressures, particularly for net energy importers.
FINANCIALSECTOR
Money supply (M3) and bank credit growth have broadly moved in alignment with the RBI's indicative trajectries. With government cash balances with the Reserve Bank persisting at a higher than normal level, the liquidity deficit in the Banking System, as reflected by the net withdrawals by banks under the liquidity adjustment facility (LAF), has remained above the indicative comfort zone of RBI during the FY 2012-13.
The reduction in the Cash Reserve Ratio (CRR) of banks by 75 basic points, effective from September 2012 to March 2013 and subsequent open market purchases of f 1,28,000.00 Cr during the year have enabled money market interest rates to remain anchored to the policy rep0 rate. M3 growth for FY 2012-13 was projected by RBI at 15 percent.
OVERVIEW
Subject was incorporated in 1984 and has completed its 29 years of providing wide range of Banking and Financial Services including commercial Banking, Treasury and Forex Operations.
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.60.25 |
|
|
1 |
Rs.101.92 |
|
Euro |
1 |
Rs.80.70 |
INFORMATION DETAILS
|
Information Gathered
by : |
GYT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
63 |
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.