MIRA
INFORM REPORT
|
Report Date : |
20.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
KANUNGO FERROMET PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
1A, 1st Floor, 28, Mahimwala Bunglow, Khetwadi, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
09.07.1990 |
|
|
|
|
Com. Reg. No.: |
11-057138 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.49.700
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27200MH1990PTC057138 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMK10811D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCK0892N |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in trading of iron and steel. |
|
|
|
|
No. of Employees
: |
Information declined by Management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 341000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an
established company having moderate track record. Profitability of
the company appears to be low. However, trade relations
are fair. Business is active. Payment terms are slow but correct. The company can
be considered for business dealings with some cautions. Note: Latest financials
of 2013 is not available with us. |
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 DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ 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 DECLINED
Management non-cooperative
(Tel. No.: 91-22-23807757)
LOCATIONS
|
Registered Office : |
1A, 1st Floor, 28, Mahimwala Bunglow, Khetwadi, 12th
Lane, Mumbai – 400 004, Maharashtra, India |
|
Tel. No.: |
91-22-23852908/ 23827759/
23807757/ 66362174/ 23803814 |
|
Fax No.: |
91-22-23820391 |
|
E-Mail : |
|
|
|
|
|
Warehouse 1 : |
Village Dheku, Taluka Khalapur, District Raigad, Khopoli – 410 203,
Maharashtra, India |
|
Location : |
Owned |
|
|
|
|
Warehouse 2 : |
Also Located at:
·
Coimbatore, Tamilnadu, India |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Omprakash Siremal Kanungo |
|
Designation : |
Director |
|
Address : |
5, Mugbhat Lane, 3rd Floor, Mumbai – 400 004,
Maharashtra, India |
|
Date of Birth/Age : |
01.07.1966 |
|
Date of Appointment : |
08.07.1994 |
|
DIN No.: |
00248455 |
|
PAN No.: |
AAGPK3137N |
|
|
|
|
Name : |
Mr. Hitesh Roopchand Kanungo |
|
Designation : |
Director |
|
Address : |
5, Mugbhat Lane, 3rd Floor, Mumbai – 400 004,
Maharashtra, India |
|
Date of Birth/Age : |
25.12.1980 |
|
Date of Appointment : |
01.01.1999 |
|
DIN No.: |
00248508 |
|
PAN No.: |
AFKPK7038P |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Sowan Omprakash Kanungo |
|
350000 |
|
Bhagu Roopchand Kanungo |
|
798000 |
|
Hitesh Roopchand Kanungo |
|
282800 |
|
Mehul Omprakash Kanungo |
|
771400 |
|
Omprakash Siremal Kanungo |
|
1367800 |
|
Stainless Trading Private Limited, India |
|
1400000 |
|
Omprakash Siremal Kanungo HUF |
|
3000 |
|
Hitesh Roopchand Kanungo HUF |
|
3000 |
|
Kavita Hitesh Kanungo |
|
3000 |
|
Heer Omprakash Kanungo |
|
3000 |
|
Devyani Omprakash Kanungo |
|
3000 |
|
Total
|
|
4985000 |
AS ON 30.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
28.08 |
|
Directors
or relatives of directors |
|
71.92 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in trading of iron and steel. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information declined by Management. |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
· State Bank of India, Andheri (East) Branch, Mumbai, Maharashtra, India · Yes Bank Limited, 9th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai – 400 018, Maharashtra, India · Canara Bank · HDFC Bank Limited · ICICI Bank Limited |
||||||||||||
|
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|
||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
H.P. Jain and Associates Chartered Accountants |
|
Address : |
13/5, Jawahar Nagar, Goregaon, Mumbai – 400 062, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFZ2704N |
|
|
|
|
Associates : |
·
Stainless Trading (India) Limited, India (CIN
No.: U55100MH1986PLC041091) ·
Rollwell Forge Private Limited, India (CIN No.:
U27100GJ1991PTC014964) ·
Kanungo Impex Private Limited, India (CIN No.:
U51909MH2007PTC169528) ·
Neo Incorporation, India ·
Ubique Alloys Private Limited, India (CIN No.:
U51420MH1996PTC102684) |
|
|
|
|
Entities where
significant influence exist : |
·
Tradewell Ferromet Private Limited, India (CIN
No.: U51420MH2006PTC165515) |
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
4985000 |
Equity Shares |
Rs.10/- each |
Rs.49.850
millions |
|
|
|
|
|
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
4970000 |
Equity Shares |
Rs.10/- each |
Rs.49.700
millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1) Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
49.700 |
49.700 |
|
(b) Reserves & Surplus |
|
35.432 |
25.412 |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
85.132 |
75.112 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
|
297.047 |
274.129 |
|
(b) Deferred tax liabilities (Net) |
|
0.145 |
0.042 |
|
(c) Other long
term liabilities |
|
0.000 |
0.000 |
|
(d) Long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
297.192 |
274.171 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
176.707 |
101.619 |
|
(b)
Trade payables |
|
305.253 |
382.044 |
|
(c)
Other current liabilities |
|
21.260 |
87.759 |
|
(d) Short-term
provisions |
|
7.977 |
10.588 |
|
Total Current
Liabilities (4) |
|
511.197 |
582.010 |
|
|
|
|
|
|
TOTAL |
|
893.521 |
931.293 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
11.471 |
12.314 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
5.063 |
5.063 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
17.733 |
17.169 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
34.267 |
34.546 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
231.109 |
303.978 |
|
(c)
Trade receivables |
|
582.302 |
518.727 |
|
(d) Cash
and cash equivalents |
|
36.535 |
16.106 |
|
(e)
Short-term loans and advances |
|
9.308 |
57.936 |
|
(f)
Other current assets |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
859.254 |
896.747 |
|
|
|
|
|
|
TOTAL |
|
893.521 |
931.293 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
49.700 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
13.232 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
62.932 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
126.757 |
|
|
2] Unsecured Loans |
|
|
191.068 |
|
|
TOTAL BORROWING |
|
|
317.825 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.042 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
380.799 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
13.251 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
5.063 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
156.056
|
|
|
Sundry Debtors |
|
|
392.431
|
|
|
Cash & Bank Balances |
|
|
15.538
|
|
|
Other Current Assets |
|
|
18.824
|
|
|
Loans, Advances & Deposits |
|
|
21.005
|
|
Total
Current Assets |
|
|
603.854
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
199.499 |
|
|
Other Current Liabilities |
|
|
34.831
|
|
|
Provisions |
|
|
7.039
|
|
Total
Current Liabilities |
|
|
241.369
|
|
|
Net Current Assets |
|
|
362.485
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
380.799 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
1937.732 |
|
1138.567 |
|
|
|
Other Income |
|
|
1.643 |
|
|
|
TOTAL (A) |
1937.732 |
1338.202 |
1140.210 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
1917.778 |
|
1055.472 |
|
|
|
Operating & Administrative
Expenses |
|
|
22.278 |
|
|
|
TOTAL (B) |
1917.778 (Including
Financial Expenses) |
1314.271 (Including
Financial Expenses) |
1077.750 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
62.460 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
45.790 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
19.954 |
23.931 |
16.670 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.825 |
1.174 |
0.998 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
19.129 |
22.757 |
15.672 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
7.376 |
7.100 |
6.524 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
11.753 |
15.657 |
9.148 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
5.112 |
2.932 |
5.523 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend |
1.491 |
2.982 |
1.491 |
|
|
|
Tax on Dividend |
0.242 |
0.495 |
0.248 |
|
|
|
Transfer to General Reserve |
10.000 |
10.000 |
10.000 |
|
|
BALANCE CARRIED
TO THE B/S |
5.132 |
5.112 |
2.932 |
|
|
|
|
|
|
|
|
|
|
EXPORTS |
|
|
|
|
|
|
|
Export Sale |
Nil |
4.343 |
4.261 |
|
|
TOTAL EARNINGS |
Nil
|
4.343 |
4.261 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Ferrous and Non Ferrous Metals |
NA |
487.481 |
461.455 |
|
|
TOTAL IMPORTS |
NA |
487.481 |
461.455 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
2.36 |
3.15 |
1.84 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.61 |
1.17 |
0.80 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA |
NA |
1.38 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.15 |
2.46 |
2.54 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.22 |
0.30 |
0.25 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
5.56 |
5.00 |
5.05 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.68 |
1.54 |
2.50 |
LOCAL AGENCY FURTHER INFORMATION
Details of Current
maturities of long-term debt:
|
Particulars |
31.03.2012 (Rs.
in millions) |
31.03.2011 (Rs.
in millions) |
31.03.2010 (Rs.
in millions) |
|
Current maturities of long-term debt |
0.000 |
0.000 |
NA |
|
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 |
Yes |
|
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 |
No |
|
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 |
Yes |
|
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 |
10115407 |
11/08/2009 * |
84,350,000.00 |
STANDARD
CHARTERED BANK |
SME CREDIT,
23-25, M G ROAD, FORT, MUMBAI, MAHARASHTRA
- 400001, INDIA |
A68198852 |
|
2 |
10037244 |
28/10/2013 * |
125,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU
CENTRE, DISCOVERY OF INDIA, DR. |
B89493357 |
* Date of charge modification
|
Unsecured Loans |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
in Millions) |
|
LONG-TERM BORROWINGS |
|
|
|
Inter-corporate borrowings |
297.047 |
274.129 |
|
Total
|
297.047 |
274.129 |
REVIEW OF
OPERATION:
The net sales
turnover together with other incomes of the Company for the year increased to
Rs.1937.700 millions as compared to Rs.1338.200 millions in the previous year, the
net profit has decreased to Rs.11.753 millions against the previous year profit
of Rs.15.657 millions.
FIXED ASSETS
·
Land
·
Buildings
·
Plant and Machinery
·
Vehicles
·
Office Equipment
·
Computer and Accessories
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.61.35 |
|
|
1 |
Rs.100.21 |
|
Euro |
1 |
Rs.83.52 |
INFORMATION DETAILS
|
Information
Gathered by : |
JML |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
28 |
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.