MIRA
INFORM REPORT
|
Report Date : |
06.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
IOLITE CUBE INFRAMATERIAL LIMITED (w.e.f. 26.06.2014) |
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Formerly Known
As : |
IOLITE CUBE INFRAMATERIAL PRIVATE LIMITED |
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Registered
Office : |
11/C, Jaishri Narayan Co-Operative Housing Society, Subhanpura,
Gorwa, Vadodara – 390023, |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
11.04.2011 |
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Com. Reg. No.: |
04-064870 |
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Capital
Investment / Paid-up Capital : |
Rs.47.600 Millions |
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CIN No.: [Company Identification
No.] |
U26914GJ2011PLC064870 |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer of Autoclaved Aerated Concrete (AAC) Blocks. |
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No. of Employees
: |
180 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
B (30) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. Rating reflects moderate financial risk profile due to low reserve. However, trade relation are fair. Business is active. Payment terms
are slow but correct. The company can be considered for business dealings with some caution.
|
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 |
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Risk Category |
ECGC
Classification |
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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 PARTED BY
|
Name : |
Mr. Ashwin Shah |
|
Designation : |
Assistant Manager |
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Contact No.: |
91-265-2393209 |
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Date : |
04.08.2014 |
LOCATIONS
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Registered Office : |
11/C, Jaishri Narayan Co-Operative Housing Society,
Subhanpura, Gorwa, Vadodara – 390023, Gujarat, India |
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Tel. No.: |
91-265-2393209 |
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Fax No.: |
91-265-2391552 |
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E-Mail : |
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Website : |
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Marketing Office : |
1, Chandramani Nagar, Vidhyavihar School Lane, Off. High
Tension Road, Subhanpura, Vadodara – 390023, Gujarat, India |
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Factory : |
Jarod-Samlaya Road, Near MGVCL Substation (GETCO), Jarod Chowkdi, Jarod, Taluka: Waghodia, District Vadodara – 391510, Gujarat, India |
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Tel. No.: |
91-2668-291456 / 291755 |
DIRECTORS
As on 27.09.2013
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Name : |
Mr. Sanjay Chhotalal Shah |
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Designation : |
Director |
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Address : |
10, Atma Jyoti Nagar Society, Opposite Atma Jyoti Ashram Road,
Vadodara – 390023, Gujarat, India |
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Date of Birth/Age : |
16.12.1968 |
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Date of Appointment : |
11.04.2011 |
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DIN No.: |
00068655 |
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Other Directorship:
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Name : |
Mrs. Bindya Sanjay Shah |
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Designation : |
Director |
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Address : |
10, Atma Jyoti Nagar Society, Opposite Atma Jyoti Ashram Road,
Vadodara – 390023, Gujarat, India |
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Date of Birth/Age : |
18.01.1970 |
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Date of Appointment : |
11.04.2011 |
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DIN No.: |
00068665 |
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Other Directorship:
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Name : |
Mr. Birju Chhotalal Shah |
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Designation : |
Director |
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Address : |
Waniyawad, Bhuj, Kuchchh – 37001, Gujarat, India |
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Date of Birth/Age : |
10.12.1973 |
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Date of Appointment : |
20.05.2011 |
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DIN No.: |
00356286 |
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Other Directorship:
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KEY EXECUTIVES
|
Name : |
Mr. Ashwin Shah |
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Designation : |
Assistant Manager |
MAJOR SHAREHOLDERS
As on 27.09.2013
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Names of Shareholders (Equity Shares) |
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No. of Shares |
|
Sanjay Chhotalal Shah |
|
5000 |
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Bindya Sanjay Shah |
|
5000 |
|
Cube Construction Engineering Limited, India |
|
2400000 |
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Rajesh Sampat |
|
100000 |
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Total |
|
2510000 |
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Names of Shareholders (Preference Shares) |
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No. of Shares |
|
Cube Construction Engineering Limited, India |
|
2250000 |
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Total |
|
2250000 |
Equity Share Break up (Percentage of Total Equity)
As on 27.09.2013
|
Category |
Percentage |
|
Bodies corporate |
95.62 |
|
Directors or relatives of Directors |
4.38 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Autoclaved Aerated Concrete (AAC) Blocks. |
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Terms : |
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Selling : |
L/C and Credit |
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Purchasing : |
L/C and Credit |
GENERAL INFORMATION
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No. of Employees : |
180 (Approximately) |
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Bankers : |
· Dena Bank, Industrial Finance Branch, 2nd Floor, Dena Laxmi Building, 188-A, Ashram Road, Ahmedabad - 380009, Gujarat, India ·
HDFC Bank Limited, HDFC Bank House Senapati
Bapat Marg, Lower Parel West, Mumbai - 400013, Maharashtra, India |
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Facilities : |
Notes:
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Shah Sanghvi and Company Chartered Accountants |
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Address : |
2, "Samarpan", 26, Haribhakti Colony, Race Course Circle,
Vadodara – 390015, Gujarat, India |
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Tel. No.: |
91-265-2337064 |
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Fax No.: |
91-265-2354386 |
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E-Mail : |
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PAN No.: |
AITPS7518Q |
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Holding Company : |
Cube Construction Engineering Limited CIN No.: U45200GJ2006PLC048119 |
CAPITAL STRUCTURE
As on 27.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2510000 |
Equity Shares |
Rs.10/- each |
Rs.25.100 Millions |
|
2250000 |
Preference Share |
Rs.10/- each |
Rs.22.500 Millions |
|
|
Total |
|
Rs.47.600
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2510000 |
Equity Shares |
Rs.10/- each |
Rs.25.100 Millions |
|
2250000 |
Preference Share |
Rs.10/- each |
Rs.22.500 Millions |
|
|
Total |
|
Rs.47.600 Millions
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
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|
|
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(a) Share Capital |
|
47.600 |
0.100 |
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(b) Reserves & Surplus |
|
10.778 |
2.703 |
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(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
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|
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(2) Share Application money pending allotment |
|
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
|
58.378 |
2.803 |
|
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(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.477 |
79.504 |
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(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
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(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
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Total Non-current Liabilities (3) |
|
0.477 |
79.504 |
|
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(4) Current Liabilities |
|
|
|
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(a) Short term borrowings |
|
62.320 |
47.500 |
|
(b) Trade payables |
|
21.961 |
12.514 |
|
(c) Other current
liabilities |
|
16.558 |
0.734 |
|
(d) Short-term provisions |
|
17.975 |
1.795 |
|
Total Current Liabilities (4) |
|
118.814 |
62.543 |
|
|
|
|
|
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TOTAL |
|
177.669 |
144.850 |
|
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II.
ASSETS |
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|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
97.017 |
94.354 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
3.313 |
1.182 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
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(v)
Goodwill |
|
3.732 |
3.732 |
|
(b) Non-current Investments |
|
0.015 |
0.015 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.036 |
0.860 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
104.113 |
100.143 |
|
|
|
|
|
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(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
14.141 |
7.570 |
|
(c) Trade receivables |
|
37.215 |
35.968 |
|
(d) Cash and cash
equivalents |
|
3.517 |
0.997 |
|
(e) Short-term loans and
advances |
|
18.683 |
0.172 |
|
(f) Other current assets |
|
0.000 |
0.000 |
|
Total Current Assets |
|
73.556 |
44.707 |
|
|
|
|
|
|
TOTAL |
|
177.669 |
144.850 |
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
163.773 |
122.428 |
|
|
|
Other Income |
|
0.341 |
0.020 |
|
|
|
TOTAL (A) |
|
164.114 |
122.448 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
|
71.095 |
66.843 |
|
|
|
Changes in Inventories of finished goods, work-in-progress and
stock-in-trade |
|
(7.257) |
(5.278) |
|
|
|
Employee Benefits Expenses |
|
10.010 |
3.182 |
|
|
|
Other Expenses |
|
76.516 |
46.318 |
|
|
|
TOTAL (B) |
|
150.364 |
111.065 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
13.750 |
11.383 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
|
13.750 |
11.383 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
|
8.290 |
8.026 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) BEFORE
TAX (E-F) (G) |
|
5.460 |
3.357 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
(0.111) |
0.653 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
|
5.571 |
2.704 |
|
|
|
|
|
|
|
|
|
|
PRIOR PERIOD MAT CREDIT |
|
2.503 |
0.000 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
2.704 |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
10.778 |
2.704 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
2.22 |
270.00 |
|
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
220.000 |
The above information has been parted by Mr. Ashwin Shah
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
|
3.39 |
2.21 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
3.33 |
2.74 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
3.20 |
2.40 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.09 |
1.20 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
|
1.08 |
45.31 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
0.62 |
0.71 |
FINANCIAL ANALYSIS
[all figures are in
Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
|
31.03.2012 |
31.03.2013 |
|
|
|
Rs.
In Millions |
Rs.
In Millions |
|
Share Capital |
|
0.100 |
47.600 |
|
Reserves & Surplus |
|
2.703 |
10.778 |
|
Net
worth |
|
2.803 |
58.378 |
|
|
|
|
|
|
long-term borrowings |
|
79.504 |
0.477 |
|
Short term borrowings |
|
47.500 |
62.320 |
|
Total
borrowings |
|
127.004 |
62.797 |
|
Debt/Equity
ratio |
|
45.310 |
1.076 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
|
31.03.2012 |
31.03.2013 |
|
|
|
Rs.
In Millions |
Rs.
In Millions |
|
Sales |
|
122.428 |
163.773 |
|
|
|
|
33.771 |
NET PROFIT MARGIN
|
Net
Profit Margin |
|
31.03.2012 |
31.03.2013 |
|
|
|
Rs.
In Millions |
Rs.
In Millions |
|
Sales
|
|
122.428 |
163.773 |
|
Profit |
|
2.704 |
5.571 |
|
|
|
2.21% |
3.40% |
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 |
Yes |
|
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
two years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----------- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
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 |
No |
UNSECURED LOANS:
|
Particulars |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
Long Term Borrowings |
|
|
|
Loans and advances from related parties |
|
|
|
Cube Construction
Engineers Limited |
0.000 |
79.504 |
|
Short Term Borrowings |
|
|
|
Other Loans and
Advances |
|
|
|
Optima Cube
Member |
0.000 |
47.500 |
|
Cube Construction
Engineers Limited |
62.320 |
0.000 |
|
Total |
62.320 |
127.004 |
COMPANY
INFORMATION:
Subject is a Private Company domiciled in India and
incorporated under the provisions of the Companies Act, 1956. The Company is engaged in Manufacture and sale of Autoclaved
Aerated Concrete Blocks. The Company's manufacturing facilities are at Jarod,
Gujarat, India.
PERFORMANCE
During the year,
Total Revenue of the Company is Rs.164.113 Millions (previous year Rs.122.449
Millions) during the current year and has earned profit of Rs.5.571 Millions
(Previous year Rs.2.703 Millions).
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10429659 |
27/09/2013 * |
2,014,000,000.00 |
Dena Bank |
Industrial Finance Branch,
2nd Floor, Dena Laxmi Building, 188-A, Ashram Road, Ahmedabad, Gujarat |
B86583259 |
|
2 |
10411820 |
21/02/2013 |
720,000.00 |
HDFC Bank Limited |
HDFC Bank House Senapati Bapat Marg, Lower Parel West, Mumbai, Maharashtra - 400013, India |
B70773262 |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
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.61.02 |
|
|
1 |
Rs.102.69 |
|
Euro |
1 |
Rs.81.91 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
30 |
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.