MIRA
INFORM REPORT
|
Report Date : |
07.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
S.P.M ( |
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Registered
Office : |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
01.04.1997 |
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|
Com. Reg. No.: |
08-022059 |
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Capital
Investment / Paid-up Capital : |
Rs. 6.620 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U85110KA1997PLC022059 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
Line of Business
: |
Manufacturer, Importer, Designer and Supplier of SPMS (Special Purpose
Machines), Test Rigs, Dynamometers and CNC Machines (Computer Numerical Control
Machines) and also Hydraulic Cylinders. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
Maximum Credit Limit : |
USD 340000 |
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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 a moderate track record. The rating takes into consideration revenue concentration risks and
working capital-intensive operations. However, trade relations are fair. Business is active. Payment are
reported to be slow but correct. The company can be considered for business dealing with some cautions.
|
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
|
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
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.
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
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
.
. Ukrain’s clashes with rebels hinder MH17 crash investigation
.
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in
. 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating: “BB-“ |
|
Rating Explanation |
Have moderate risk of default. |
|
Date |
17.12.2013 |
|
|
|
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating: “A4+” |
|
Rating Explanation |
Have minimal degree of safety and carry very high credit risk. |
|
Date |
17.12.2013 |
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
31-03-2014.
INFORMATION DECLINED
Management Non-cooperative. (Tel. No.: 91-80-26668825)
LOCATIONS
|
Registered / Corporate / Head Office : |
|
|
Tel. No.: |
91-80-26668822 to 26 |
|
Fax No.: |
91-80-26660783 |
|
E-Mail : |
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|
Website : |
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|
|
|
|
Branch Office: |
Located at: ·
Pune ·
·
Chennai |
DIRECTORS
As on: 30.09.2013
|
Name : |
Mr. GDR Krishna |
|
Designation : |
Director |
|
Address : |
No. 1334, 27th Cross 26th Main, BSK II Stage, Bangalore-
560070, Karnataka, India |
|
Date of Birth/Age : |
04.03.1964 |
|
Date of Appointment : |
01.04.1997 |
|
DIN No.: |
00010754 |
|
|
|
|
Name : |
Mr. Venkatesh Damodara Gogineni |
|
Designation : |
Director |
|
Address : |
No. 179, 1st Cross, BSK 3rd Stage, 3rd
Phase, |
|
Date of Birth/Age : |
10.10.1961 |
|
Date of Appointment : |
01.04.1997 |
|
DIN No.: |
02594379 |
|
|
|
|
Name : |
Mr. Hanumanth Ramachandra Desai |
|
Designation : |
Additional director |
|
Address : |
No.632, 4th Cross, 5th Main, Banashankari 1st
Stage, |
|
Date of Birth/Age : |
18.04.1957 |
|
Date of Appointment : |
30.09.2010 |
|
DIN No.: |
02978061 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
G.S. Adilakshmi Jointly with Ms. G.S. Chaitra |
|
220668 |
|
G D Venkatesh |
|
201450 |
|
G D R |
|
201450 |
|
GK Parijatha |
|
17200 |
|
GV Hemanlatha |
|
17200 |
|
G. Sonika Krishna |
|
1008 |
|
Akila V Gogineni |
|
1008 |
|
G. Jawahar Krishna |
|
1008 |
|
Aishwarya V Gogineni |
|
1008 |
|
|
|
|
|
Total |
|
662000 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2013
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
%20LIMITED%20-%20280200%2007-Aug-2014_files/image002.gif)
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Importer, Designer and Supplier of SPMS (Special Purpose
Machines), Test Rigs, Dynamometers and CNC Machines (Computer Numerical
Control Machines) and also Hydraulic Cylinders. |
GENERAL INFORMATION
|
Customers : |
·
TATA ·
Ashok Leyland ·
Bajaj ·
BEHR ·
BOSCH ·
BROSE ·
Carraro ·
Continental ·
Denso ·
Ford ·
Escorts ·
Godrej ·
Hero Honda ·
Hyundai |
||||||||||||||||||||||||||||||
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||||||||||||||||||||||||||||||
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No. of Employees : |
Information declined by the management |
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Bankers : |
State Bank of |
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Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institutions : |
Tata Capital Financial Services Limited, One Forbes,
Dr V B Gandhi Marg, Fort, Mumbai - 400001, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
A Bala Murali Chartered Accountants |
|
Address : |
MU-201, Towns End, Avalahalli Village, Doddaballapur Road, Yalahanka,
Bangalore – 560064, Karnataka, India |
|
Tel. No.: |
91-80-22386179 / 65995440 |
|
PAN No.: |
ADUPK3408P |
|
|
|
|
Associates Company : |
·
GD India Private Limited ·
Quicloc Private Limited ·
G D Techcentre Private Limited ·
G D Softech Private Limited ·
G D R Mektek Private Limited |
CAPITAL STRUCTURE
As on: 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
750000 |
Equity Shares |
Rs.10/- each |
Rs. 7.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
662000 |
Equity Shares |
Rs.10/- each |
Rs. 6.620
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 |
6.620 |
6.620 |
6.620 |
|
(b) Reserves & Surplus |
72.288 |
59.777 |
49.194 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
8.400 |
8.400 |
8.400 |
|
Total Shareholders’ Funds (1) + (2) |
87.308 |
74.797 |
64.214 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
13.401 |
7.649 |
0.308 |
|
(b) Deferred tax liabilities (Net) |
3.041 |
3.571 |
3.757 |
|
(c) Other long
term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
16.442 |
11.220 |
4.065 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
141.307 |
90.074 |
98.671 |
|
(b)
Trade payables |
159.509 |
113.790 |
111.765 |
|
(c)
Other current liabilities |
108.414 |
68.430 |
24.727 |
|
(d) Short-term
provisions |
8.524 |
4.324 |
4.023 |
|
Total Current
Liabilities (4) |
417.754 |
276.618 |
239.186 |
|
|
|
|
|
|
TOTAL |
521.504 |
362.635 |
307.465 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
35.165 |
34.287 |
36.235 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.087 |
0.000 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax
assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
5.730 |
5.779 |
37.856 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
40.982 |
40.066 |
74.091 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
81.375 |
67.490 |
51.947 |
|
(c)
Trade receivables |
294.681 |
191.883 |
157.772 |
|
(d) Cash
and cash equivalents |
21.599 |
20.595 |
13.172 |
|
(e)
Short-term loans and advances |
82.867 |
42.601 |
10.483 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
480.522 |
322.569 |
233.374 |
|
|
|
|
|
|
TOTAL |
521.504 |
362.635 |
307.465 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
575.034 |
407.042 |
356.246 |
|
|
Other operating Income |
11.901 |
9.165 |
14.689 |
|
|
Non-operating Income |
5.300 |
3.485 |
0.195 |
|
|
TOTAL (A) |
592.235 |
419.692 |
371.130 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Raw materials and
packing materials consumed |
367.137 |
262.132 |
209.046 |
|
|
(-) Increase / (+) Decrease in
inventories of work in progress |
(11.190) |
(22.856) |
6.564 |
|
|
Employees benefits
expense |
96.785 |
68.405 |
61.804 |
|
|
Other expenses |
88.475 |
71.514 |
64.897 |
|
|
TOTAL (B) |
541.207 |
379.195 |
342.311 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION (C) |
51.028 |
40.497 |
28.819 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
24.383 |
18.600 |
14.274 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
26.645 |
21.897 |
14.545 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
7.048 |
6.336 |
5.588 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX (E-F) (G) |
19.597 |
15.561 |
8.957 |
|
|
|
|
|
|
|
Less |
TAX (H) |
7.086 |
4.979 |
3.796 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
(G-H) (I) |
12.511 |
10.582 |
5.161 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
18.90 |
15.99 |
7.80 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
2.11 |
2.52 |
1.39 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.41 |
3.82 |
2.51 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.76 |
4.29 |
2.91 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.22 |
0.21 |
0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.77 |
1.31 |
1.54 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.15 |
1.17 |
0.98 |
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 |
6.620 |
6.620 |
6.620 |
|
Reserves & Surplus |
49.194 |
59.777 |
72.288 |
|
Share Application money
pending allotment |
8.400 |
8.400 |
8.400 |
|
Net worth |
64.214 |
74.797 |
87.308 |
|
|
|
|
|
|
long-term borrowings |
0.308 |
7.649 |
13.401 |
|
Short term borrowings |
98.671 |
90.074 |
141.307 |
|
Total borrowings |
98.979 |
97.723 |
154.708 |
|
Debt/Equity ratio |
1.541 |
1.307 |
1.772 |
%20LIMITED%20-%20280200%2007-Aug-2014_files/image004.gif)
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 |
356.246 |
407.042 |
575.034 |
|
|
|
14.259 |
41.271 |
%20LIMITED%20-%20280200%2007-Aug-2014_files/image006.gif)
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 |
356.246 |
407.042 |
575.034 |
|
Profit |
5.161 |
10.582 |
12.511 |
|
|
1.45% |
2.60% |
2.18% |
%20LIMITED%20-%20280200%2007-Aug-2014_files/image008.gif)
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 |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
Yes |
|
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 |
Yes |
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
As on 31.03.2013 |
As on 31.03.2012 |
|
LONG TERM
BORROWINGS |
|
|
|
From others |
0.509 |
0.000 |
|
Hemalathe |
2.998 |
0.000 |
|
Dr. G.D.Rama Krishna |
9.454 |
7.217 |
|
|
|
|
|
Total |
12.961 |
7.217 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10356523 |
15/04/2013 * |
50,000,000.00 |
TATA CAPITAL FINANCIAL SERVICES LIMITED |
ONE FORBES, DR. V. B. GANDHI MARG, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B76088228 |
|
2 |
10284194 |
24/03/2011 |
50,000,000.00 |
TATA CAPITAL LIMITED |
ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B12088720 |
|
3 |
80014359 |
23/02/2011 * |
170,000,000.00 |
STATE BANK OF INDIA |
SME J P NAGAR BRANCH, 5TH PHASE, J P NAGAR, BANGA |
B07748262 |
* Date of charge modification
FIXED ASSETS
·
Land
·
Building
·
Furniture
·
Plant and Machinery
·
Office Equipments
·
Vehicles
·
Computer
·
Electrical Installation
·
Software
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. 61.33 |
|
|
1 |
Rs. 103.43 |
|
Euro |
1 |
Rs. 81.96 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
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.