MIRA
INFORM REPORT
|
Report Date : |
19.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
HEC INFRA PROJECTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Sigma-1, Corporate House No.6, Sindhu Bhavan Road, Near Mann Party
Plot Cross Road, Bodakdev, Ahmedabad - 380054, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
06.10.2005 |
|
|
|
|
Com. Reg. No.: |
04-046870 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.7.912 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
u45200GJ2005PTC046870 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMH02177A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCH6492H |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Service Provider for EPC Contractors. |
|
|
|
|
No. of Employees
: |
30 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 370000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. Trade relations are reported to be fair. Business is active. Payment
terms are reported to be usually correct. The company can be considered normal for business dealing 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
The worst is over for India’s economy with gross domestic product likely
to expand 5 %to 5.5 % this year and more than 6 % in 2015, according to Moody’s
Analytics. Concerns over the rupee and current account deficit are under
control, said the agency. Ratings firm Crisil has forecast 6 % growth for
2014/15 up from the estimated 4.8 % for 2013/14. Total economic growth,
infrastructure bottlenecks and lack of transparency and consistency in foreign
direct investment policies seem to have taken a toll on India’s attractiveness
as an investment destination, says an Ernst & Young survey. Projects
with FDI component fell 16.4 % across the globe in 2012 from the previous
year. The drop in India was steeper at 21 %. State run carrier Air India
is doling out free tickets to its 24000 employees, even as it expects to incur
a loss of Rs 39000 mn this financial year and has a debt of Rs 350000 mn.
550000 number of jobs generated across India in 2013, a fall of 0.4 % as
compared to with a year earlier. The National Capital Region has a
one-fourth share in total jobs created, according to a study by industry lobby
group Assochem, Banks, real estate, automobile and telecommunications sectors
are showing a rise of job creation. $ 805 mn investments by venture capital
firms in India during 2013, registering a drop of about 18 % over the previous
year. The Information Technology and IT-Enabled Services Industry
retained its status as the favourable venture capital investors in 2013.
Pakistan has temporarily banned gold imports for the second time in six months,
as it tries to stem smuggling into India. India’s import duty on gold is 10 %
and curbs on purchases have dried up legal imports into what used to be the
world’s biggest bullion buyers. The World Gold Council puts the amount smuggled
into India at upto 200 tonnes in 2013. The Reserve Bank of India has proposed
that unclaimed bank deposits estimated to be about Rs 35000 mn be used for
education and awareness among depositors. According to the plan, deposits
that have not been claimed for at least 10 years will be transferred to the
scheme.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
2B |
|
Rating Explanation |
High performance capability and moderate
financial strength. |
|
Date |
25.02.2013 |
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
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Dhaval Shah |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-79-40086771 |
|
Date : |
18.02.2014 |
LOCATIONS
|
Registered Office : |
Sigma-1, Corporate House No.6, Sindhu Bhavan Road, Near Mann Party
Plot Cross Road, Bodakdev, Ahmedabad - 380054, Gujarat, India |
|
Tel. No.: |
91-79-40086771 / 72 / 73 / 74 / 75 / 76 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
DIRECTORS
As on: 30.09.2013
|
Name : |
Mr. Gaurag Parmanand Shah |
|
Designation : |
Director |
|
Address : |
59, Milanpark Society, Vastrappur, Ahemdabad – 380 015, |
|
Date of Birth/Age : |
05.08.1963 |
|
Date of Appointment : |
06.10.2005 |
|
DIN No.: |
01756079 |
|
|
|
|
Name : |
Ms. Rupal Gaurang Shah |
|
Designation : |
Director |
|
Address : |
59, Milanpark Society, Vastrappur, Ahemdabad – 380 015, |
|
Date of Birth/Age : |
18.11.1966 |
|
Date of Appointment : |
06.10.2005 |
|
DIN No.: |
01756092 |
KEY EXECUTIVES
|
Name : |
Mr. Dhaval Shah |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2013
|
Names of Equity Shareholders |
No. of Shares |
|
Gaurag Parmanand Shah |
573900 |
|
Rupal Gaurang Shah |
115500 |
|
Rupal Gaurang Shah Jointly with Gaurag Parmanand Shah |
6200 |
|
Unnati Vikram Shah |
2066 |
|
|
|
|
TOTAL
|
697666 |
|
Names of Preference Shareholders |
No. of Shares |
|
Paras Engen India Private Limited, India |
93500 |
|
|
|
|
TOTAL
|
93500 |
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 |
BUSINESS DETAILS
|
Line of Business : |
Service Provider for EPC Contractors. |
|
|
|
|
Terms : |
|
|
Selling : |
Cash, Credit |
|
|
|
|
Purchasing : |
Cash, Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
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|
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No. of Employees : |
30 (Approximately) |
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|
Bankers : |
· State Bank of Bikaner and Jaipur, 24-28, Arjun Tower, Sattelite Road, Ahmedabad - 380015, Gujarat, India · Bank of India, Ahmedabad Main Branch, Mezzanine Floor, Bank of India Building, Bhadra, Ahmedabad - 380001, Gujarat, India |
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Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Raj P Shah and Company Chartered Accountant |
|
Address : |
C-802, Sankalp Apartment, Opposite L J College, Vastrapur – 380 015,
Ahmedabad-380015, Gujarat, India |
|
PAN No.: |
ABIPS3379M |
CAPITAL STRUCTURE
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1400000 |
Equity Shares |
Rs.10/- each |
Rs. 14.000 Millions |
|
100000 |
Redeemable Preference Shares |
Rs.10/- each |
Rs. 1.000 Million |
|
|
|
|
|
|
|
TOTAL |
|
Rs.15.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
697666 |
Equity Shares |
Rs.10/- each |
Rs. 6.977
Millions |
|
93500 |
Redeemable Preference Shares |
Rs.10/- each |
Rs. 0.935 Million |
|
|
|
|
|
|
|
TOTAL |
|
Rs. 7.912 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 |
7.912 |
7.912 |
7.911 |
|
(b) Reserves & Surplus |
84.158 |
74.634 |
63.797 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.495 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
92.565 |
82.546 |
71.708 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
62.576 |
56.349 |
48.388 |
|
(b) Deferred tax liabilities (Net) |
2.521 |
2.759 |
0.359 |
|
(c) Other long term
liabilities |
0.601 |
0.601 |
0.601 |
|
(d) long-term provisions |
1.207 |
0.935 |
0.000 |
|
Total
Non-current Liabilities (3) |
66.905 |
60.644 |
49.348 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
145.152 |
120.969 |
72.854 |
|
(b) Trade payables |
125.781 |
147.892 |
175.466 |
|
(c) Other current liabilities |
11.183 |
11.596 |
5.572 |
|
(d) Short-term provisions |
18.583 |
8.297 |
5.000 |
|
Total
Current Liabilities (4) |
300.699 |
288.754 |
258.892 |
|
|
|
|
|
|
TOTAL |
460.169 |
431.944 |
379.948 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
31.987 |
33.627 |
25.650 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
24.984 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
3.070 |
4.360 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current assets |
55.765 |
53.829 |
3.384 |
|
Total
Non-Current Assets |
90.822 |
91.816 |
54.018 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
33.430 |
35.671 |
39.069 |
|
(c) Trade receivables |
275.832 |
251.637 |
233.558 |
|
(d) Cash and cash equivalents |
12.273 |
25.618 |
14.984 |
|
(e) Short-term loans and
advances |
0.000 |
0.000 |
0.000 |
|
(f) Other current assets |
47.812 |
27.202 |
38.319 |
|
Total
Current Assets |
369.347 |
340.128 |
325.930 |
|
|
|
|
|
|
TOTAL |
460.169 |
431.944 |
379.948 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
597.138 |
572.922 |
465.900 |
|
|
Other Income |
9.272 |
6.239 |
3.332 |
|
|
TOTAL
(A) |
606.410 |
579.161 |
469.232 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Purchases of Stock-in-Trade |
411.197 |
427.830 |
362.114 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
2.241 |
3.398 |
(11.872) |
|
|
Employees benefits expense |
23.102 |
16.685 |
11.924 |
|
|
Other expenses |
126.392 |
92.223 |
73.072 |
|
|
Depreciation written back |
0.000 |
(5.042) |
0.000 |
|
|
Profit on sale of assets |
(0.009) |
0.000 |
0.000 |
|
|
Extraordinary Items |
0.000 |
0.120 |
0.000 |
|
|
TOTAL
(B) |
562.923 |
535.214 |
435.238 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
43.487 |
43.947 |
33.994 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
26.711 |
24.886 |
15.570 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
16.776 |
19.061 |
18.424 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
1.782 |
1.611 |
3.488 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
14.994 |
17.450 |
14.936 |
|
|
|
|
|
|
|
Less |
TAX (H) |
4.546 |
6.151 |
5.109 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
10.448 |
11.299 |
9.827 |
|
|
|
|
|
|
|
|
Earnings
Per Share (Rs.) |
14.98 |
16.20 |
49.14 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total
Income |
(%) |
1.72 |
1.95 |
2.09 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.51 |
3.05 |
3.21 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.28 |
4.08 |
4.21 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16 |
0.21 |
0.21 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.24 |
2.15 |
1.69 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.23 |
1.18 |
1.26 |
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 |
7.911 |
7.912 |
7.912 |
|
Reserves & Surplus |
63.797 |
74.634 |
84.158 |
|
Net
worth |
71.708 |
82.546 |
92.070 |
|
|
|
|
|
|
long-term borrowings |
48.388 |
56.349 |
62.576 |
|
Short term borrowings |
72.854 |
120.969 |
145.152 |
|
Total
borrowings |
121.242 |
177.318 |
207.728 |
|
Debt/Equity
ratio |
1.691 |
2.148 |
2.256 |
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 |
465.900 |
572.922 |
597.138 |
|
|
|
22.971 |
4.227 |
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 |
465.900 |
572.922 |
597.138 |
|
Profit |
9.827 |
11.299 |
10.448 |
|
|
2.11% |
1.97% |
1.75% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT
MATURITIES OF LONG-TERM DEBT DETAILS – NOT AVAILABLE
|
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 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 |
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 |
Yes |
Note:
Registered office has been shifted from 403, 404, Super Plaza Complex, Near Sandesh Press, Vastrapur, Ahmedabad – 380 015, Gujarat, India to the present address w.e.f. 01.10.2010.
UNSECURED LOAN
(Rs.
In Millions)
|
Particular |
As on 31.03.2013 |
As on 31.03.2012 |
|
Long Term
Borrowings |
|
|
|
From Shareholders and Directors, Friends and Relatives |
27.148 |
13.336 |
|
From NBFC |
0.000 |
0.157 |
|
|
|
|
|
Total |
27.148 |
13.493 |
OPERATIONS AND OUTLOOK
The Company has achieved targeted Results in spite of high competition and the recession. The high input costs resulted in narrowing the margins. It is hoped that with the continued efforts in exploring new markets in the established markets, the growth will be sustained during the coming years. The turnover was satisfactory during the year.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10183398 |
04/09/2013 * |
279,800,000.00 |
BANK OF INDIA |
AHMEDABAD MAIN BRANCH, MEZZANINE FLOOR, BANK OF INDIA BUILDING, BHADRA, AHMEDABAD, GUJARAT - 380001, INDIA |
B84019801 |
|
2 |
10183390 |
04/03/2013 * |
282,300,000.00 |
BANK OF INDIA |
AHMEDABAD MAIN BRANCH, MEZZANINE FLOOR, BANK OF INDIA BUILDING, BHADRA, AHMEDABAD, GUJARAT - 380001, INDIA |
B72039126 |
Note: * Date of charge modification
FIXED ASSETS
· Air Conditioners
· Computer
· Furniture
· Motor Cycle
· Office Equipments
· Electric Fan
· Motor Car
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 records 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.62.12 |
|
|
1 |
Rs.103.93 |
|
Euro |
1 |
Rs.85.17 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
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 |
5 |
|
--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 |
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 |
|
45 |
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.