MIRA
INFORM REPORT
|
Report Date : |
17.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
PANACHE ALUMINIUM EXTRUSIONS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Survey No.187, Plot
No.1, Shivaji Nagar Road, Village - Ahire, Taluka – Khandala, District Satara
– 412 802, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
26.08.2009 |
|
|
|
|
Com. Reg. No.: |
11-138957 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.43.000 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27101PN2009PTC138957 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the manufacture of aluminium extrusion profiles
in various alloys. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (13) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an
established company having moderate track record. There appears
huge accumulated loss recorded by the company during 2013. However, trade relations
are fair. Business is active. Payments are reported to be slow. The company can
be considered for business dealings on a safe and secured 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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Term Loan: B- |
|
Rating Explanation |
Have high risk of default. |
|
Date |
April, 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.
LOCATIONS
|
Registered Office : |
Survey No.187, Plot
No.1, Shivaji Nagar Road, Village - Ahire, Taluka – Khandala, District Satara
– 412 802, Maharashtra, India |
|
Tel. No.: |
91-2169-207172/ 173 91-22-61511900 |
|
Fax No.: |
91-2169-207174 |
|
E-Mail : |
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|
Website : |
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|
|
Factory : |
Located at: ·
Ahire in the Satara district of Maharashtra |
DIRECTORS
AS ON 28.09.2013
|
Name : |
Mr. Vipul Rajendrakumar Padliya |
|||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
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|
Address : |
94, Matru Mandir, 278, Tardeo Road, Mumbai –
400 007, Maharashtra, India |
|||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
20.10.1976 |
|||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
26.08.2009 |
|||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00166491 |
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|
Other Directorship:
|
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|
|||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Anil Mohanlal Padliya |
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|
Designation : |
Director |
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|
Address : |
94, Matru Mandir, 278, Tardeo Road, Mumbai –
400 007, Maharashtra, India |
|||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
09.07.1957 |
|||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
26.08.2009 |
|||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00166531 |
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Other Directorship:
|
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|
|||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Akshay Padliya |
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|
Designation : |
Director |
|||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
74, Matru Mandir, 278, Tardeo Road, Mumbai –
400 007, Maharashtra, India |
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|
Date of Birth/Age : |
10.12.1980 |
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|
Date of Appointment : |
23.09.2010 |
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DIN No.: |
02313266 |
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Other Directorship:
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|||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Rajeshwar Baburam Yadav |
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|
Designation : |
Director |
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|
Address : |
Flat No.6, Nilkantha Apartments, Barangani Road, Dhayari, Pune – 411
041, Maharashtra, India |
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|
Date of Birth/Age : |
11.07.1971 |
|||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
26.08.2009 |
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|
DIN No.: |
02490138 |
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Other Directorship:
|
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|||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Vaibhav Jainedrakumar Padliya |
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|
Designation : |
Director |
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|
Address : |
Matru Mandir, 16th Floor, Flat No.65,
Tardeo Road, Mumbai – 400 007, Maharashtra, India |
|||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
18.03.1983 |
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Date of Appointment : |
26.08.2009 |
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DIN No.: |
02491907 |
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Other Directorship:
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|||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Ms. Shabnam Anil Padliya |
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|
Designation : |
Director |
|||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
94, Matru Mandir, 278, Tardeo Road, Mumbai –
400 007, Maharashtra, India |
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|
Date of Birth/Age : |
10.01.1963 |
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|
Date of Appointment : |
23.09.2010 |
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DIN No.: |
02809165 |
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Other Directorship:
|
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Anil M. Padliya J/W Shabnam A. Padliya |
|
625500 |
|
Vipul R. Padliya J/W Varsha Padliya |
|
754000 |
|
Vaibhav J. Padliya J/W Nimisha Padliya |
|
582000 |
|
Rajeshwar Yadav |
|
552000 |
|
Akshay R. Padliya J/W Riddhi A. Padliya |
|
753985 |
|
Shabnam Padliya and Anila Padliya |
|
500 |
|
Panache Metal India Private Limited, India |
|
1032000 |
|
Milan Gandhi |
|
5 |
|
Bipin Gandhi |
|
5 |
|
Kirti Shah |
|
5 |
|
Total
|
|
4300000 |
AS ON 23.10.2013
|
Names of Allottee |
|
No. of Shares |
|
Panache Metal India Private Limited, India |
|
320000 |
|
Total
|
|
320000 |
AS ON 28.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
24.00 |
|
Directors
or relatives of directors |
|
76.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the manufacture of aluminium extrusion profiles
in various alloys. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
Dena Bank,
Zaveri Bazar Branch, 262, Ganeshwadi, Mulji Jetha Building, Sheikh Memon
Street, Mumbai – 400 002, Maharashtra, India |
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|
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Facilities : |
|
|
|
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
Satish K. Gandhi and Company Chartered Accountants |
|
Address : |
F-5, Rizvi Park, 1st Floor, S.V. Road, Santacruz, Mumbai –
400 054, Maharashtra, India |
|
Tel. No.: |
91-22-26613976 |
|
Fax No.: |
91-22-26614580 |
|
E-Mail : |
|
|
PAN No.: |
AACPG9875F |
CAPITAL STRUCTURE
AFTER 28.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
4650000 |
Equity Shares |
Rs.10/- each |
Rs.46.500 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
4620000 |
Equity Shares |
Rs.10/- each
|
Rs.46.200
millions |
|
|
|
|
|
AS ON 28.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
4650000 |
Equity Shares |
Rs.10/- each |
Rs.46.500 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
4300000 |
Equity Shares |
Rs.10/- each
|
Rs.43.000
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 |
43.000 |
43.000 |
0.100 |
|
(b) Reserves & Surplus |
(73.472) |
(33.617) |
(4.650) |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’ Funds (1) + (2) |
(30.472) |
9.383 |
(4.550) |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term
borrowings |
311.395 |
200.495 |
158.371 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(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) |
311.395 |
200.495 |
158.371 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
81.106 |
83.919 |
0.000 |
|
(b) Trade
payables |
76.135 |
18.025 |
2.762 |
|
(c)
Other current liabilities |
7.173 |
19.436 |
1.597 |
|
(d) Short-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
164.414 |
121.380 |
4.359 |
|
|
|
|
|
|
TOTAL |
445.337 |
331.258 |
158.180 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
210.338 |
173.125 |
17.388 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
46.379 |
112.350 |
|
(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) |
32.855 |
15.033 |
0.184 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
243.193 |
234.537 |
129.922 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
33.702 |
48.749 |
0.000 |
|
(c)
Trade receivables |
118.958 |
5.041 |
0.000 |
|
(d) Cash
and cash equivalents |
1.041 |
0.942 |
0.358 |
|
(e)
Short-term loans and advances |
16.752 |
18.381 |
4.422 |
|
(f)
Other current assets |
31.691 |
23.608 |
23.478 |
|
Total
Current Assets |
202.144 |
96.721 |
28.258 |
|
|
|
|
|
|
TOTAL |
445.337 |
331.258 |
158.180 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
459.098 |
163.150 |
0.005 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
459.098 |
163.150 |
0.005 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
191.222 |
3.826 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
493.529 |
191.222 |
3.826 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(34.431) |
(28.072) |
(3.821) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
23.247 |
15.743 |
0.183 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
(57.678) |
(43.815) |
(4.004) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(17.823) |
(14.848) |
(0.189) |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
(39.855) |
(28.967) |
(3.820) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
(33.617) |
(4.650) |
(0.830) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(73.472) |
(33.617) |
(4.650) |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Purchases |
114.019 |
113.411 |
Nil |
|
|
TOTAL IMPORTS |
114.019 |
113.411 |
Nil
|
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(9.27) |
(6.74) |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(8.68)
|
(17.75)
|
(76400.00)
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(13.98)
|
(16.24)
|
(8.77)
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
1.89
|
(4.67)
|
0.88
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
(12.88)
|
30.31 |
(34.81) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.23
|
0.80 |
6.48 |
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 |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
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] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
INDEX OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10237602 |
26/10/2013 * |
249,000,000.00 |
DENA BANK |
ZAVERI BAZAR
BRANCH, 262, GANESHWADI, MULJI JETHA |
B89797351 |
* Date of charge modification
|
Unsecured Loans |
31.03.2013 (Rs. in Millions) |
31.03.2012 (Rs. in Millions) |
|
LONG TERM BORROWINGS |
|
|
|
From Others |
|
|
|
Directors,
Shareholder and Others |
10.410 |
13.410 |
|
From Companies |
180.235 |
42.935 |
|
Total |
190.645 |
56.345 |
Note:
The registered office of the company has been shifted from 356, J.S.S. Road, Next to Thakurdwar Post Office, Murlidhar Compound,
Mumbai – 400 002, Maharashtra to the present address w.e.f. 18.02.2011.
OPERATIONS:
During the year,
the Company did earned loss of Rs.34.431 millions as against loss of Rs.28.072
millions in the previous year. After providing for depreciation of Rs.23.247
millions the Company had loss of Rs.57.678 millions as compared the loss of
Rs.43.815 millions during the previous year.
CONTINGENT LIABILITY:
|
Particulars |
31.03.2013 (Rs. in Millions) |
31.03.2012 (Rs. in Millions) |
|
Bank Guarantee –
Performance Guarantee |
3.673 |
3.673 |
FIXED ASSETS:
·
Land
·
Factory Building
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicle
·
Office Equipment
·
Computer
·
Electric Installation
·
Weigh Scale
·
Air Condition
·
Dies and Tools
WEBSITE DETAILS:
OVERVIEW:
Subject is an ISO 9001:2008 certified organisation engaged in manufacturing of extruded Aluminium products. Backed by expertise and in-depth knowledge about the industry, acquired through meticulous trading activity over a period of more than 30 years, the promoters have setup a state-of-the-art manufacturing facility in Satara District, Maharashtra, India.
Through its core values of sustainability, quality and leadership, the organization is committed to operating in a responsible way with respect to the health, safety and well-being of its employees and the communities in which it operates. The promoters are committed to demonstrating outstanding performance and providing exceptional service to its customers
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.61.53 |
|
|
1 |
Rs.100.73 |
|
Euro |
1 |
Rs.83.84 |
INFORMATION DETAILS
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
1 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
1 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
1 |
|
--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 |
|
13 |
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.