MIRA
INFORM REPORT
|
Report Date : |
03.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
HRS PROCESS SYSTEMS LIMITED (w.e.f.
22.04.2010) |
|
|
|
|
Formerly Known
As : |
HRS PROCESS SYSTEMS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
201/202, 2nd
Floor, Karan Selene, 851, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
01.04.2003 |
|
|
|
|
Com. Reg. No.: |
25-017846 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 5.100 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29198PN2003PLC017846 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEH04305A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCH2679G |
|
|
|
|
Legal Form : |
A closely held
public limited Liability company |
|
|
|
|
Line of Business
: |
Manufacturer and Seller of Heat Exchangers. |
|
|
|
|
No. of Employees
: |
110 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 520000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
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Payment Behaviour : |
Usually correct |
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|
Litigation : |
Clear |
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|
Comments : |
Subject is a subsidiary of HRS International Limited, UK. It is an established company having satisfactory track record. Trade relations are reported as fair. Business is active. Payments are
recorded as usually correct. 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.
ECGC Country Risk Classification List – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
India |
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
India’s current
account deficit narrowed in the quarter ended September as government measures
to curb imports, especially gold, kicked in. The current account deficit,
the excess of a country’s imports of goods and services over exports, narrowed
to $ 5.2 billion from $ 21 billion in the year ago period, according to
provisional Reserve Bank of India data. Finance Minister P. Chidambaram said
the CAD for the year will be less than $ 60 billion or 3 per cent of GDP and
the latest data suggests the government may achieve the target.
India was ranked 94th
among the world’s most corrupt nations list. Denmark and New Zealand topped as
the cleanest while Somalia emerged as the most corrupt.
India’s services
sector activity witnessed a moderate improvement in November over the previous
month, even while indicating the fifth successive monthly contraction,
according the HSBC survey.
$53 million
estimated losses suffered by India due to phishing attacks during the third quarter,
according to a study by RSA. India ranks fourth in the list of nations hit by
phishing attacks. The US remained at the top of the charts. Phishing is the
process of acquiring information such as user names, passwords and credit card
details by sending e-mails disguised as official mails.
Rs.4080 million
worth of mobile-phone-based transactions by July 2013 compared to Rs.260
million in September, 2012, according to Deloitte report. The number of
transactions has shot up from 94000 to 701000.
India aims to earn
Rs.400000 million from the bandwidth auction set for January. The merger and
acquisition guidelines, cleared by a group of ministers, will be out before the
auction begins so that players can make informed decisions on the auctions.
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 (GENERAL DETAILS)
|
Name : |
Mr. Vinay Gokhale |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-20-25663581 |
|
Date : |
02.01.2014 |
LOCATIONS
|
Registered / Corporate Office 1 : |
201/202, 2nd
Floor, Karan Selene, 851, Bhandarkar Institute Road, Pune – 411004,
Maharashtra, India |
|
Tel. No.: |
91-20-25663581/ 6047894/ 25663582/ 66047894/ 66047895 |
|
Fax No.: |
91-20-25663583 |
|
E-Mail : |
|
|
Website : |
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|
Area : |
7100 Sq.fts |
|
Location : |
Rented |
|
|
|
|
Corporate Office
2 : |
501/502, Karan
Selene, 851, |
|
Area : |
7100 Sq.fts |
|
Location : |
Rented |
|
|
|
|
Factory : |
Gat No. 565/1, Koregaon, Bhima, Taluka Shirur, District Pune - 411004,
|
|
Tel. No.: |
91-2137-676701 |
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Fax No.: |
91-2137-676705 |
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E-Mail : |
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|
Area : |
15000 Sq. fts |
|
Location : |
Owned |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Gokuldas Venugopalan |
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|
Designation : |
Managing Director |
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|
Address : |
Flat No.12, Anushka, |
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Date of Birth/Age : |
03.06.1963 |
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Date of Appointment : |
04.01.2013 |
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DIN No.: |
00489737 |
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Other Directorship:
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Name : |
Mr. Steven John Pither |
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Designation : |
Director |
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Address : |
10-12, |
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Date of Appointment : |
13.06.2003 |
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DIN No.: |
02047015 |
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|
||||||||||||||||
|
Name : |
Mr. Rajendra Kantrao Dawkar |
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Designation : |
Whole – time Director |
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|
Address : |
Building No. F1-6, Citadel, |
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Date of Birth/Age : |
06.02.1967 |
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Date of Appointment : |
01.04.2010 |
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DIN No.: |
02581847 |
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Other Directorship:
|
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KEY EXECUTIVES
|
Name : |
Mr. Vinay Gokhale |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
HRS International Limited, |
|
469146 |
|
HRS Heat Exchangers Limited, |
|
51 |
|
Gokuldas Venugopalan |
|
40799 |
|
Elizabeth Das |
|
1 |
|
Francisco Javier Abad Ruiz |
|
1 |
|
Pither Edward Steven |
|
1 |
|
Twydle Michael Robert |
|
1 |
|
Total |
|
510000 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
92.00 |
|
Directors or relatives of Directors |
8.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Seller of Heat Exchangers. |
|
|
|
|
Exports : |
|
|
Products : |
· Ecoflux Corrugated Tube Heat Exchangers |
|
Countries : |
·
Malaysia Australia Thailand Dubai, etc |
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Imports : |
|
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Products : |
Raw Material |
|
Countries : |
· Germany Italy US. |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particular |
Units |
Actual
Production |
|
Corrugated Tube Heat Exchanger |
Nos. |
1335 |
GENERAL INFORMATION
|
Customers : |
End Users |
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No. of Employees : |
110 (Approximately) |
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Bankers : |
State Bank of |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Naniwadekar and Company Chartered Accountants |
|
Address : |
2, Nalini Apartments, Plot No. 3/10, |
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Tel No.: |
91-20-25439238/ 25448641 |
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Fax No.: |
91-20-25439238 |
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Email: |
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Income-tax
PAN of auditor or auditor's firm : |
AANPN9281B |
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Holding Company: |
HRS International Limited, |
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Fellow Subsidiaries: |
· HRS Heat Exchangers SDN BHD HRS FUNKE Heat Exchange FZCO HRS Heat Exchangers Limited, UK HRS Heat Exchangers SLU, Spain HRS Process Technology INC Heat Exchangers Spares com |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Share |
Rs.10/- Each |
Rs. 10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
510000 |
Equity Share |
Rs.10/- Each |
Rs. 5.100
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 |
5.100 |
5.100 |
5.100 |
|
(b) Reserves & Surplus |
125.284 |
119.053 |
115.051 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.00 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
130.384 |
124.153 |
120.151 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
11.623 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
6.108 |
2.907 |
3.982 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
2.917 |
|
Total Non-current Liabilities (3) |
17.731 |
2.907 |
6.899 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
42.420 |
27.330 |
23.616 |
|
(b) Trade payables |
29.500 |
14.331 |
27.159 |
|
(c) Other current
liabilities |
41.113 |
31.998 |
26.149 |
|
(d) Short-term provisions |
30.655 |
17.703 |
24.686 |
|
Total Current Liabilities (4) |
143.688 |
91.362 |
101.610 |
|
|
|
|
|
|
TOTAL |
291.803 |
218.422 |
228.660 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
88.883 |
69.959 |
69.439 |
|
(ii) Intangible Assets |
0.664 |
0.217 |
0.172 |
|
(iii) Capital work-in-progress |
0.502 |
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 |
4.557 |
4.335 |
4.380 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
94.606 |
74.511 |
73.991 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
85.850 |
86.093 |
65.666 |
|
(c) Trade receivables |
72.806 |
32.135 |
58.673 |
|
(d) Cash and cash
equivalents |
5.735 |
5.144 |
6.503 |
|
(e) Short-term loans and
advances |
30.255 |
16.660 |
22.148 |
|
(f) Other current assets |
2.551 |
3.879 |
1.679 |
|
Total Current Assets |
197.197 |
143.911 |
154.669 |
|
|
|
|
|
|
TOTAL |
291.803 |
218.422 |
228.660 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
408.372 |
290.690 |
382.421 |
|
|
|
Other Income |
1.740 |
1.965 |
3.141 |
|
|
|
TOTAL (A) |
410.112 |
292.655 |
385.562 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Material Consumed |
199.354 |
160.980 |
199.391 |
|
|
|
Changes in inventories of Finished Goods work-in-progress and stock-in-trade |
7.143 |
(28.950) |
(5.270) |
|
|
|
Employees benefit Expenses |
71.487 |
52.155 |
46.404 |
|
|
|
Other Expenses |
105.459 |
94.210 |
97.002 |
|
|
|
TOTAL (B) |
383.443 |
278.395 |
337.527 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
26.669 |
14.260 |
48.035 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
4.984 |
4.190 |
2.442 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
21.685 |
10.070 |
45.593 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
4.266 |
4.143 |
4.439 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
17.419 |
5.927 |
41.154 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
8.563 |
1.925 |
13.642 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
8.856 |
4.002 |
27.512 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
110.423 |
106.421 |
89.986 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividends |
2.244 |
0.000 |
11.077 |
|
|
|
Dividend Distribution tax on Proposed Dividend |
0.381 |
0.000 |
|
|
|
|
Transfer to General Reserve |
0.886 |
0.000 |
|
|
|
BALANCE CARRIED
TO THE B/S |
115.768 |
110.423 |
106.421 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Exports |
35.687 |
31.198 |
13.818 |
|
|
TOTAL EARNINGS |
35.687 |
31.198 |
13.818 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
37.242 |
27.505 |
23.067 |
|
|
|
Capital Goods |
0.000 |
0.000 |
0.277 |
|
|
TOTAL IMPORTS |
37.242 |
27.505 |
23.344 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
17.37 |
7.85 |
53.94 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
2.16
|
1.37
|
7.14 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.27
|
2.04
|
10.76 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.98
|
2.71
|
18.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.13
|
0.05
|
0.34 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.41
|
0.22
|
0.20 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.37
|
1.58
|
1.52 |
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 |
Yes |
|
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 |
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 |
10029876 |
27/03/2012 * |
165,300,000.00 |
STATE BANK OF INDIA |
DECCAN GYMKHANA, PUNE - 411004, MAHARASHTRA, INDIA |
B36228831 |
* Date of charge modification
CHANGE OF ADDRESS
The registered office of the company has been
shifted from Pune – 411021,
Maharashtra, India to the present address
w.e.f 22.11.2006
COMPANY INFORMATION
Subject (formerly known as HRS Process Systems Private Limited) was incorporated on 01 April 2003, under the Companied Act, 1956.
The company is a part of HRS Group and is engaged in manufacture and sale of heat exchangers in domestic and export market.
The company is headquarted in Pune with manufacturing location at Koregaon Bims, Shirur.
FUTURE PLANS
The company is consolidating its business from growth sectors - pharma, nutraceuticals, food processing, beverage, speciality chemicals, snack food and such sectors. They have also made inroads to core sectors like steel, cement and power.
They have launched new product - Hot water systems and CIP System - which are required in many sectors, like pharma, food processing. Their heat exchanger business is growing.
International business is showing good growth with their group company in Malaysia catering to the region. They expect good business in the coming year.
They shall be completing their 2" phase of factory expansion by adding some building for storage of material and also for processing.
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
Guarantee |
16.436 |
9.318 |
|
Other money for which the company is contingently
liable – Income tax (Not Recongnised) |
8.083 |
0.006 |
|
Total |
24.519 |
9.324 |
FIXED ASSETS
v
Tangible
Assets
Land
Building
Vehicles
Computers
Furniture
and Fixtures
Office
Equipment
Plant
and Machinery
Plant
and Machinery – Electrical Installations
v
Intangible Assets
Computer
Software
Goodwill
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.61.90 |
|
|
1 |
Rs.102.74 |
|
Euro |
1 |
Rs.85.16 |
INFORMATION DETAILS
|
Information Gathered
by : |
PDT |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
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 |
6 |
|
--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 |
|
47 |
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.