MIRA INFORM REPORT
|
Report Date : |
21.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
ISGEC HITACHI ZOSEN LIMITED |
|
|
|
|
Registered
Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on)
: |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
21.03.2012 |
|
|
|
|
Com. Reg. No.: |
05-045430 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1000.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28123HR2012PLC045430 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
RTKI01650F |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Exporter and Importer of Heavy Engineering Items. |
|
|
|
|
No. of Employees
: |
600 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 4200000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of ISGEC Heavy Engineering Limited. It is an established company having satisfactory track record. The company has achieved a decent turnover and profit from its first
year of operation. Trade relations are reported as fair. Business is active. Payment
terms are reported to be slow but correct. In view of strong holding the company 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.
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 that 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Fund based Limits: “BBB-” |
|
Rating Explanation |
Moderate degree of safety. It carry moderate
credit risk. |
|
Date |
March, 2014 |
|
Rating Agency Name |
ICRA |
|
Rating |
Non fund based limits : “A3” |
|
Rating Explanation |
Moderate degree of safety. It carry higher
credit risk. |
|
Date |
March, 2014 |
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. Shailesh Kumar |
|
Designation : |
Head of Accounts |
|
Contact No.: |
91-2641-305530 |
|
Date : |
20.08.2014 |
LOCATIONS
|
Registered Office : |
|
|
Tel. No.: |
91-1732-307614/ 307296 / 2641-305530 / 307228 |
|
Fax No.: |
91-1732-250991 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
13-B, GIDC, Industrial Estate, Dahej Bharuch, Ahmedabad –
392130, |
|
Tel. No.: |
91-2641-305507 |
|
Fax No.: |
91-2641-305500 |
|
E-Mail : |
DIRECTORS
As on 18.09.2013
|
Name : |
Mr. Sanjay Satya Pal Gulati |
|
Designation : |
Managing Director |
|
Address : |
H. No. 114/1, Sugar Mill Colony, Yamunanagar – 135 001, |
|
Date of Birth/Age : |
17.02.1968 |
|
Date of Appointment : |
13.04.2012 |
|
DIN No.: |
05201178 |
|
|
|
|
Name : |
Mr. Aditya Ranjit Puri |
|
Designation : |
Director |
|
Address : |
D-860, New Friends Colony, |
|
Date of Birth/Age : |
04.12.1967 |
|
Date of Appointment : |
21.03.2012 |
|
DIN No.: |
00052534 |
|
|
|
|
Name : |
Mr. Ravi Rattan Chand Jaidka |
|
Designation : |
Director |
|
Address : |
119/2, Sugar Mills Colony ,
Yamunanagar – 135 001, |
|
Date of Birth/Age : |
15.08.1946 |
|
Date of Appointment : |
21.03.2012 |
|
DIN No.: |
00322627 |
|
|
|
|
Name : |
Mr. Hisao Tomisauro Matsuwake |
|
Designation : |
Director |
|
Address : |
30-30-2302, Nanko-Kita 1-chome, Suminoe-ku, |
|
Date of Birth/Age : |
16.07.1949 |
|
Date of Appointment : |
21.03.2012 |
|
DIN No.: |
05200900 |
|
|
|
|
Name : |
Mr. Toshiya Shunsuke Takenaka |
|
Designation : |
Director |
|
Address : |
3-7-2, |
|
Date of Birth/Age : |
20.01.1973 |
|
Date of Appointment : |
21.03.2012 |
|
DIN No.: |
05200914 |
|
|
|
|
Name : |
Mr. Eiji Masumi Moriya |
|
Designation : |
Director |
|
Address : |
D-173, Westend Heights, DLF City, Phase – IV, Gurgaon – 122002,
Haryana, India |
|
Date of Birth/Age : |
25.09.1958 |
|
Date of Appointment : |
21.03.2012 |
|
DIN No.: |
03536027 |
KEY EXECUTIVES
|
Name : |
Mr. Ashish Kumar Satya |
|
Designation : |
Secretary |
|
Address : |
1512-B, Modern Colony, Yamuna Nagar – 135 001, |
|
Date of Birth/Age : |
21.08.1976 |
|
Date of Appointment : |
13.04.2012 |
|
PAN No.: |
ARCPK7571P |
|
Name : |
Mr. Shailesh Kumar |
|
Designation : |
Head of Accounts |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 18.09.2013
|
Names of Shareholders |
No. of Shares |
|
Isgec Heavy Engineering Limited, |
50999997 |
|
Aditya Ranjit Puri (Nominee of Isgec Heavy Engineering Limited) |
1 |
|
Ravi Rattan Chand Jaidka (Nominee of Isgec Heavy Engineering Limited) |
1 |
|
Sanjay Satya Pal Gulati (Nominee of Isgec Heavy Engineering Limited) |
1 |
|
Hitachi Zosen Corporation, |
48999997 |
|
Hisao Tomisauro Matsuwake (Nominee of Hitachi Zosen Corporation) |
1 |
|
Toshiya Shunsuke Takenaka (Nominee of Hitachi Zosen Corporation) |
1 |
|
Eiji Masumi Moriya (Nominee of Hitachi Zosen Corporation) |
1 |
|
Total |
100000000 |
AS ON 18.09.2013
Equity Share Breakup
|
Category |
Percentage of
Holding |
|
Bodies corporate |
99.99 |
|
Directors or relatives of Directors |
0.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of Heavy Engineering Items. |
|
|
|
|
Exports : |
|
|
Products : |
Finished Goods |
|
Countries : |
·
Japan ·
Gulf Countries ·
Marico ·
USA ·
Kazakhstan ·
Uzbekistan |
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
·
Korea ·
Belgium ·
China ·
Italy |
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Cash and Credit |
|
|
|
|
Purchasing : |
L/C, Cash and Credit |
GENERAL INFORMATION
|
No. of Employees : |
600 (Approximately) |
|
|
|
|
Bankers : |
· HDFC Bank Limited, Janpath, New Delhi – 110001, India · Standard Chartered Bank, (Acting as an Security Agent) C D U, Narain Manzil, 23 Barakhamba Road, New Delhi - 110001,Delhi, India · ING Vysya Bank Limited, Narian Manzil, Ground Floor, Shop No. G1 To G5, I Floor,Shop No.1001 To 1007,Barakhamba Road,, New Delhi, Delhi - 110001, India · State Bank of Patiala, Commercial Branch, Chandralok Building, 36, Janpath , New Delhi, Delhi - 110001, India · State Bank of Patiala · ING Vysya Bank · Bank of Baroda |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S.S. Kathani and Mehta Company Chartered Accountants |
|
Address : |
146 – 149, Tribhuvan Complex, Ishwar Nagar, Mathura Road, New Delhi, India |
|
PAN No.: |
AABFS6730L |
|
|
|
|
Holding Company: |
Isgec Heavy Engineering Limited, CIN No.: L23423HR1933PLC000097 |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives: |
Hitachi Zosen Corporation |
CAPITAL STRUCTURE
As on 18.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
110000000 |
Equity Shares |
Rs.10/- each |
Rs. 1100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000000 |
Equity Shares |
Rs.10/- each |
Rs. 1000.000
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2013 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
1000.000 |
|
(b) Reserves & Surplus |
|
|
33.182 |
|
(c) Money
received against share warrants |
|
|
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
|
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
|
1033.182 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
|
0.000 |
|
(c) Other long term liabilities |
|
|
18.053 |
|
(d) long-term provisions |
|
|
13.382 |
|
Total Non-current Liabilities (3) |
|
|
31.435 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
|
0.000 |
|
(b) Trade payables |
|
|
42.835 |
|
(c) Other current
liabilities |
|
|
258.141 |
|
(d) Short-term provisions |
|
|
6.349 |
|
Total Current Liabilities (4) |
|
|
307.325 |
|
|
|
|
|
|
TOTAL |
|
|
1371.942 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
|
6.834 |
|
(ii) Intangible Assets |
|
|
1.150 |
|
(iii) Capital
work-in-progress |
|
|
2.598 |
|
(iv)
Intangible assets under development |
|
|
0.000 |
|
(b) Non-current Investments |
|
|
0.000 |
|
(c) Deferred tax assets (net) |
|
|
3.107 |
|
(d) Long-term Loan and Advances |
|
|
1.691 |
|
(e) Other Non-current assets |
|
|
3.410 |
|
Total Non-Current Assets |
|
|
18.790 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
|
0.000 |
|
(b) Inventories |
|
|
293.676 |
|
(c) Trade receivables |
|
|
74.076 |
|
(d) Cash and cash
equivalents |
|
|
873.686 |
|
(e) Short-term loans and
advances |
|
|
92.894 |
|
(f) Other current assets |
|
|
18.820 |
|
Total Current Assets |
|
|
1353.152 |
|
|
|
|
|
|
TOTAL |
|
|
1371.942 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
700.000 (Approx.) |
|
|
|
Other Income |
|
|
NA |
|
|
|
TOTAL |
|
|
NA |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
|
|
NA |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
|
50.464 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
|
1.345 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
|
|
49.119 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
|
15.937 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
|
|
33.182 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
|
33.182 |
|
|
Particulars |
|
|
31.03.2014 |
|
|
|
|
|
|
Sales Turnover (Approximately) |
|
|
660.000 |
|
|
|
|
|
Expected Sales (2014-2015): Rs. 4210.000 Millions (Due to More Orders).
The above information has been parted by Mr. Shailesh Kumar (Head of
Accounts).
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2013 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
|
3.62 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
|
0.05 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
|
|
NA |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
4.40 |
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
two years |
Yes |
|
12] |
Profitability for last
one years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
Yes |
|
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) |
Yes |
|
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 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10508824 |
29/05/2014 |
500,000,000.00 |
ING VYSYA BANK LIMITED |
NARIAN MANZIL, GROUND FLOOR, SHOP NO. G1 TO G5, I FLOOR,SHOP NO.1001 TO 1007,BARAKHAMBA ROAD,, NEW DELHI, DELHI - 110001, INDIA |
C11139466 |
|
2 |
10476747 |
16/01/2014 |
375,000,000.00 |
STANDARD CHARTERED BANK |
(ACTING
AS AN SECURITY AGENT) C D U, NARAIN MANZI |
B96008032 |
|
3 |
10471046 |
10/01/2014 |
250,000,000.00 |
STANDARD CHARTERED BANK |
CREDIT DOCUMENTATION UNIT, NARAIN MANZIL, 23 BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA |
B93836203 |
|
4 |
10424828 |
30/04/2013 |
600,000,000.00 |
STATE BANK OF PATIALA |
COMMERCIAL BRANCH, CHANDRALOK BUILDING, 36, JANPATH , NEW DELHI, DELHI - 110001, INDIA |
B74812363 |
OPERATIONS:
This was the
Company’s first year of operations. As jobs manufactured by the company have a
long cycle, the revenue was lower on account of sale of equipments.
The Company,
however, was busy in doing job work for the orders booked by ISGEC Heavy
Engineering Limited before incorporation of the Joint Venture Company. One
notable order was for an Ethylene Oxide Reactor from Reliance Industries which
was manufactured and dispatched successfully during the year under report.
During the first
year of its operations the Company had been able to book a lot of large value orders
for sophisticated equipments from prestigious customers. These orders are under
execution.
Many important
customers visited the Plant of the Company at Dahej and approved it for the
manufacture of their Equipments.
Under the guidance
of Isgec Heavy Engineering Limited and Hitachi Zosen Corporation, Japan, the
Company has implemented various improvement initiatives in the Shops and also
in Procurement and Project Management activities.
The business
prospects for the current year ending March 31, 2014 are good and the Company
is expected to book good orders both from Indian and foreign customers.
In view of good
business prospects, the Company has formulated an expansion scheme for addition
of various equipments which will increase the production capacity of the Plant
from 8,000 M.T. per year to 13,000 M.T. per year. The expansion plan is likely
to be operational by June 2014.
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.60.67 |
|
|
1 |
Rs.100.81 |
|
Euro |
1 |
Rs.80.73 |
INFORMATION DETAILS
|
Information Gathered
by : |
PRT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
--- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
43 |
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.