|
Report Date : |
21.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
EXPRESS GLOBAL LOGISTICS PRIVATE LIMITED (w.e.f.12.03.2012) |
|
|
|
|
Formerly Known
As : |
EXPRESS TRANSPORT PRIVATE LIMITED |
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Registered
Office : |
17, Western
India House, 2nd Floor, |
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|
Country : |
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|
|
Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
12.01.1946 |
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Com. Reg. No.: |
11-004733 |
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|
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Capital
Investment / Paid-up Capital : |
Rs. 0.190
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U63090MH1946PTC004733 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUME04807F |
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|
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PAN No.: [Permanent Account No.] |
AAACE2632F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Providing of Logistic Solutions and Freight Forwarding Service. |
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|
|
|
No. of Employees
: |
130 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 640000 |
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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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 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
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. Rajan |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-22-66339898 |
|
Date : |
20.01.2014 |
LOCATIONS
|
Registered Office : |
17, Western
India House, 2nd Floor, Sir P M Road, Fort, Mumbai – 400001, Maharashtra,
India |
|
Tel. No.: |
91-22-66339898 |
|
Fax No.: |
91-22-66339833 |
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E-Mail : |
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Website : |
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Location : |
Owned |
|
|
|
|
Corporate Office : |
Kulkarni Patil Bhavan, 2nd Floor, 14, Murzaban Road,
Opposite New Empire Theatre, Fort, Mumbai - 400001, Maharashtra, India |
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Tel. No.: |
91-22-66339898 |
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Fax No.: |
91-22-66339833 |
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E-Mail : |
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Branch Offices : |
Located at: · Ahmedabad Ankleshwar Bangalore Chennai Dahej Delhi Goa Hyderabad Indore Kandla Mundra Pune Surat Vadodara |
DIRECTORS
AS ON 19.09.2013
|
Name : |
Mr. Vinod Ramanlal Gandhi |
|
Designation : |
Whole-time director |
|
Address : |
28, Shankar Sagar, Sophia College Lane, Mumbai – 400026, Maharashtra,
India |
|
Date of Birth/Age : |
09.08.1939 |
|
Date of Appointment : |
20.06.1972 |
|
DIN No.: |
00051657 |
|
|
|
|
Name : |
Mr. Keyur Vinod Gandhi |
|
Designation : |
Whole-time director |
|
Address : |
28, Shankar Sagar, Sophia College Lane, Mumbai – 400026, Maharashtra,
India |
|
Date of Birth/Age : |
30.05.1976 |
|
Date of Appointment : |
01.06.2001 |
|
DIN No.: |
00059575 |
|
|
|
|
Name : |
Mr. Nailesh Vinod Gandhi |
|
Designation : |
Whole-time director |
|
Address : |
28, Shankar Sagar, Sophia College Lane, Mumbai – 400026, Maharashtra,
India |
|
Date of Birth/Age : |
29.09.1965 |
|
Date of Appointment : |
29.09.1988 |
|
DIN No.: |
00059459 |
|
|
|
|
Name : |
Mr. Ashwin Ramanlal Gandhi |
|
Designation : |
Director |
|
Address : |
Nilkamal, Race Cource Circle, Opposite Gautam Nagar Society, Baroda –
390007, Gujarat, India |
|
Date of Birth/Age : |
11.05.1945 |
|
Date of Appointment : |
20.06.1972 |
|
DIN No.: |
00977474 |
|
|
|
|
Name : |
Mr. Kirit Ramanlal Gandhi |
|
Designation : |
Director |
|
Address : |
101, Kunj Society, Alkapuri, R C Dutt Road, Alkapuri, Vadodara –
390005, Gujarat, India |
|
Date of Birth/Age : |
15.09.1941 |
|
Date of Appointment : |
20.06.1972 |
|
DIN No.: |
01219268 |
KEY EXECUTIVES
|
Name : |
Mr. Rajan |
|
Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 19.09.2013
NOTE: SHAREHOLDING DETAILS FILE ATTACHED
AS ON 19.09.2013
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Directors
or relatives of directors |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing of Logistic Solutions and Freight Forwarding Service. |
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Terms : |
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Selling : |
Credit |
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Purchasing : |
Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
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No. of Employees : |
130 (Approximately) |
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Bankers : |
· Punjab National Bank Colaba Branch, Near Colaba Post Office, Mumbai - 400005, Maharashtra, India · Deutsche Bank AG Kodak House, 222, Dr. DN Road, Fort, Mumbai - 400001, Maharashtra, India · Standard Chartered Bank SME Credit, 23-25, M G Road, Fort, Mumbai - 400001, Maharashtra, India · HDFC Bank Limited ICICI Bank Limited |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Rashmi Zaveri and Company Chartered Accountants |
|
Address : |
Arham, Ground Floor, Suite No. 2&3, Plot No. 266, Near Gandhi
Market, Sion (East), Mumbai – 400022, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AADFR9589G |
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|
|
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Associates : |
· Express Hotel Private Limited Express Restaurants Private Limited Express Tours and Travel Private Limited Combi Logistics Private Limited Express Equipment Rental and Logistics Private Limited Express Engineering Const. Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,000 |
Equity Shares |
Rs. 100/- each |
Rs. 0.200 Million |
|
500 |
Preference Shares |
Rs. 100/- each |
Rs. 0.050 Million |
|
|
Total |
|
Rs. 0.250
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,900 |
Equity Shares |
Rs. 100/- each |
Rs. 0.190
Million |
|
|
|
|
|
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 |
0.190 |
0.190 |
0.190 |
|
(b) Reserves & Surplus |
160.102 |
142.639 |
137.955 |
|
(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) |
160.292 |
142.829 |
138.145 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
21.554 |
59.247 |
41.833 |
|
(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 |
4.797 |
4.095 |
2.692 |
|
Total Non-current
Liabilities (3) |
26.351 |
63.342 |
44.525 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
106.449 |
66.324 |
62.459 |
|
(b)
Trade payables |
50.064 |
30.960 |
21.833 |
|
(c)
Other current liabilities |
25.481 |
24.918 |
27.058 |
|
(d) Short-term
provisions |
11.798 |
3.210 |
2.616 |
|
Total Current
Liabilities (4) |
193.792 |
125.412 |
113.966 |
|
|
|
|
|
|
TOTAL |
380.435 |
331.583 |
276.636 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
27.851 |
30.659 |
27.589 |
|
(ii)
Intangible Assets |
0.236 |
0.579 |
0.312 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
2.215 |
2.221 |
|
(c) Deferred tax assets (net) |
5.303 |
5.706 |
3.645 |
|
(d) Long-term Loan and Advances |
0.103 |
0.101 |
0.105 |
|
(e) Other
Non-current assets |
20.060 |
24.076 |
15.523 |
|
Total Non-Current
Assets |
53.553 |
63.336 |
49.395 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c)
Trade receivables |
276.555 |
237.952 |
203.946 |
|
(d) Cash
and cash equivalents |
5.330 |
8.362 |
8.574 |
|
(e)
Short-term loans and advances |
26.590 |
13.440 |
10.179 |
|
(f)
Other current assets |
18.407 |
8.493 |
4.542 |
|
Total
Current Assets |
326.882 |
268.247 |
227.241 |
|
|
|
|
|
|
TOTAL |
380.435 |
331.583 |
276.636 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
NA
|
NA
|
NA
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA
|
NA
|
NA
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
44.359 |
12.868 |
21.273 |
|
|
|
|
|
|
5.754 |
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
5.992 |
5.725 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
38.367 |
7.143 |
15.519 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
12.013 |
2.459 |
5.495 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
26.354 |
4.684 |
10.024 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
135.922 |
131.238 |
121.214 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
2.800 |
0.000 |
0.000 |
|
|
|
Dividend |
7.600 |
0.000 |
0.000 |
|
|
|
Tax on Dividend |
1.292 |
0.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
150.584 |
135.922 |
131.238 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
171.893 |
154.832 |
106.149 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
13871 |
2465 |
5226 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.23
|
2.21 |
5.73 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.24
|
0.05 |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.80
|
0.88 |
0.75 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.69
|
2.14 |
1.99 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT
|
Particulars |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
|
|
|
|
|
|
Current Maturities of Long Term Debt |
2.168 |
1.483 |
1.396 |
|
|
|
|
|
|
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 |
No |
|
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) |
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 |
No |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10336997 |
02/02/2012 |
966,800.00 |
PUNJAB NATIONAL BANK |
COLABA BRANCH, NEAR COLABA POST OFFICE, MUMBAI - 400005, MAHARASHTRA, INDIA |
B32721672 |
|
2 |
10323747 |
30/11/2011 |
619,000.00 |
PUNJAB NATIONAL BANK |
COLABA BRANCH, NEAR COLABA POST OFFICE, MUMBAI - 400005, MAHARASHTRA, INDIA |
B28082329 |
|
3 |
10222152 |
19/04/2010 |
60,000,000.00 |
DEUTSCHE BANK AG |
KODAK HOUSE, 222,DR. DN ROAD, FORT, MUMBAI - 400001, MAHARASHTRA, INDIA |
A86197266 |
UNSECURED LOANS
|
UNSECURED LOANS |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG-TERM BORROWINGS |
|
|
|
Directors |
0.000 |
12.588 |
|
Shareholders |
19.670 |
43.594 |
|
SHORT TERM BORROWINGS |
|
|
|
Directors |
15.438 |
7.661 |
|
Shareholders |
43.785 |
25.831 |
|
|
|
|
|
Total |
78.893 |
89.674 |
NATURE OF
OPERATIONS
The company is in Vocation of Logistics and Advisory Service being a
Custom House Agents and International Freight Forwarders since 1946 having 10
branches spread all over India. The company has only one segment of
business.
OPERATIONS
The period was challenging and opportunistic for the Company as
macroeconomic environment continued to remain unstable and volatile. In spite
of all odds, the company recorded significant growth and robust performance at
all levels. Profit for the year ended 31.03.2013 is Rs. 26.354 Millions in
comparison with previous year i.e. 3.1.03.2012 was Rs. 4.684 Millions. The
growth oriented performance is grossly attributable to Company’s
customer-centric approach and its ability to innovative customer specific
solutions, focus on pricing and aggressive marketing strategy, disciplined
project executions, focused management approach, prudent financial and human
resources management and ensuring better control over cost. However the next
year outlook does not seem to be encouraging.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
Bank guarantee of Indian Overseas Bank |
0.200 |
0.200 |
|
On account of cases pending with Income Tax Authorities |
0.000 |
0.507 |
|
On account of cases pending with CESTAT |
0.105 |
0.105 |
|
|
|
|
|
Total |
0.305 |
0.812 |
FIXED ASSETS:
· Land and Building
Furniture
Vehicles
Coles
Cranes
Aqua
Systems
Portable
Power Generator
Air
Conditioner
Air
Coolers
Office
Equipments
Pagers
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. 61.63 |
|
|
1 |
Rs. 101.25 |
|
Euro |
1 |
Rs. 83.42 |
INFORMATION DETAILS
|
Information Gathered
by : |
PLK |
|
|
|
|
Report Prepared
by : |
BVA |
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 |
4 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
6 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
46 |
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.