.
|
Report Date : |
28.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
KARTHIK ALLOYS LIMITED (w.e.f 04.02.1992) |
|
|
|
|
Formerly Known
As : |
KARTHIK ALLOYS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
L6 and L7, Cuncolim Industrial Estate, Salcette, Cuncolim – 403703, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
30.12.1992 |
|
|
|
|
Com. Reg. No.: |
24-001969 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.32.300 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L31200GA1992PLC001969 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACK7734Q |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacturer of Ferro Alloy Steel Products. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 329000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The profit margin of the company appears low. The rating also take into consideration the volatility in raw material
prices and stretched liquidity position. However, trade relations are reported as fair. Business is active.
Payments terms are reported to be slow. The company can be considered for business dealings with some
cautions. |
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 – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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
The services sector, the largest contributor to India’s GDP, contracted
for the sixth consecutive month in December, as orders dipped. However, hiring
has risen. Direct tax collections rose 12.3 % during the April – December
period of the current financial year. The government has decided to
retain 100 per cent foreign direct investment in both greenfield (new) and
brown field (existing) pharmaceutical companies, despite concerns over genetic
drugs going out of production, if multi-national companies take over domestic
ones. In M&A deals, a non compete clause would not be allowed, except in
special circumstances. The Department of Industrial Policy and Promotion plans
to release the next edition of its consolidated foreign direct investment
policy document on March 31, incorporating changes made in the past year. DIPP
compiles all policies related to India’s FDI regime into a single document to
make it easy for investors to understand. 185 million estimated number of
mobile internet users in India by June 2014, according to a report by the
Internet & Mobile Association of India and IMRB International. India
had 110 million mobile internet users with 25 million in rural areas. $3.77 tn
estimated global IT spending in 2014, according to research firm Gartner Inc.
The growth forecast for this year is cut to 3.1 %from the earlier estimate of
3.5 %. The spending growth forecast for telecom services – a segment that
accounts for more than 40 % at total IT spending – from 1.9 per cent to 1.2 per
cent is the main reason for this overall IT cut. A Reserve Bank of India
committee has recommended setting up a special category of lenders who would
cater to small businesses and households, to expand the number of customers
with access to banking services. These banks would focus on providing payment
services and deposit products. Indian banks want the free use of
automated teller machines to be capped at five transactions in a month
including that of the bank in which the account is active. This follows state
government order to banks to install security guards at ATM booths after a
woman banker was assaulted in Bangalore. The government is likely to present a
vote on Account in mid-February. The annual Economic Survey will be tabled
later in Parliament along with the full Budget. A full Budget for 2014/15 is
likely to be present in July by the new government formed after the General
Election. The government will soon launch an internet spy system, called Netra,
to detect malafide messages. Security agency will deploy the system to capture
dubious voice traffic on applications such as Skype and Google Talk, as well as
tweeters.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank facilities B+ |
|
Rating Explanation |
High risk of default |
|
Date |
September 24, 2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities A4 |
|
Rating Explanation |
Minimal degree of safety. It carry very high
credit risk. |
|
Date |
September 24, 2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Uday Shah |
|
Designation : |
Vice President – Communication |
|
Contact No.: |
91-9225908939 |
|
Date : |
28.01.2014 |
LOCATIONS
|
Registered Office / Factory 1 : |
L6 and L7, Cuncolim Industrial Estate, Salcette, Cuncolim – 403703,
Goa, India |
|
Tel. No. : |
91-832-2763404/539 |
|
Mobile No. : |
91-9225908939 (Mr. Uday Shah) |
|
Fax No. : |
91-832-2763264 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 2 : |
No. 89, Mouza Angadpur, Waria Road, Durgapur – 713215, West Bengal, India |
|
Tel. No. : |
91-343-2590737/694 |
DIRECTORS
As on 25.09.2013
|
Name : |
Ms. Radha Bhupal |
|
Designation : |
Director |
|
Address : |
Plot No. 28, Amrut Nagar, Gogol, Margao – 403602, South Goa, India |
|
Date of Birth/Age : |
29.07.1971 |
|
Date of Appointment : |
19.09.2011 |
|
DIN No. : |
00210897 |
|
|
|
|
Name : |
Mr. Srinivasa Bhupal |
|
Designation : |
Managing Director |
|
Address : |
Plot No. 28, Amrut Nagar, Gogol, Margao – 403602, South Goa, India |
|
Date of Birth/Age : |
17.08.1964 |
|
Date of Appointment : |
09.02.2002 |
|
DIN No. : |
00214915 |
|
|
|
|
Name : |
Mr. Ajit Damodar Katkar |
|
Designation : |
Director |
|
Address : |
535 – H – 1, Murida, Fatorda, Margao – 403602, South Goa, India |
|
Date of Birth/Age : |
02.07.1957 |
|
Date of Appointment : |
30.07.2012 |
|
DIN No. : |
05341133 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 25.09.2013
|
Names of Shareholders |
No. of Shares |
|
Radha Bhupal |
2500 |
|
Srinivasa Bhupal |
195240 |
|
Ajit Damodar Katkar |
1000 |
As on 25.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Nationalised or other banks |
6.79 |
|
Mutual funds |
1.98 |
|
Foreign holdings
(Foreign institutional investor(s), Foreign companie(s) Foreign financial
institution(s), Non-resident indian(s) or Overseas corporate bodies or
Others) |
0.07 |
|
Bodies corporate |
49.08 |
|
Directors or relatives of Directors |
24.25 |
|
Other top fifty shareholders |
17.83 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Ferro Alloy Steel Products. |
|
|
|
|
Exports : |
|
|
Products : |
Finished Goods |
|
Countries : |
All Over World |
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
All Over World |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
State Bank of Mysore, Margeo Branch, Ground Floor Damodar Chambers,
Isidosio Baptista Road, Margao – 403601, South Goa, India |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
D. V. Sarovar and Company Chartered Accountants |
|
Address : |
Near Baldota Park N. C. Colony |
|
PAN
No. : |
AAFFD2005F |
|
|
|
|
Group Companies : |
v Kartik Induction
v Rukmini Impex v K R
Infrastructure v Rukmini Rama |
|
|
|
|
Enterprises which are owned, or have significant
influence of or are partners with Key management personnel and their
relatives : |
v
Rukminirama Steel Rollings Private Limited CIN No. : U27106GA1998PTC002541 v
Karthik Inductions Limited CIN No. :
L27108GA1994PLC001666 v
Karthik Associated Road Carriers Private Limited CIN No. :
U60231GA1997PTC002330 v
K. R. Ferro Alloys Private Limited CIN No. :
U67120AP1995PTC019278 |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8000000 |
Equity Shares |
Rs.10/- each |
Rs.80.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3230000 |
Equity Shares |
Rs.10/- each |
Rs.32.300 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 |
32.300 |
32.300 |
32.300 |
|
(b) Reserves & Surplus |
50.036 |
39.186 |
28.123 |
|
(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) |
82.336 |
71.486 |
60.423 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
20.277 |
15.844 |
26.448 |
|
(b) Deferred tax liabilities (Net) |
54.902 |
56.585 |
54.457 |
|
(c) Other long term liabilities |
59.887 |
35.142 |
35.142 |
|
(d) long-term provisions |
3.377 |
3.126 |
2.747 |
|
Total Non-current Liabilities (3) |
138.443 |
110.697 |
118.794 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
213.702 |
77.226 |
187.178 |
|
(b) Trade payables |
172.459 |
162.014 |
136.206 |
|
(c) Other current
liabilities |
41.877 |
35.073 |
14.475 |
|
(d) Short-term provisions |
2.299 |
5.496 |
3.202 |
|
Total Current Liabilities (4) |
430.337 |
279.809 |
341.061 |
|
|
|
|
|
|
TOTAL |
651.116 |
461.992 |
520.278 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
172.920 |
177.528 |
183.750 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
11.379 |
3.473 |
1.752 |
|
(iv) Intangible
assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
21.858 |
0.358 |
0.359 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1.810 |
5.188 |
2.716 |
|
(e) Other Non-current assets |
15.399 |
0.731 |
8.323 |
|
Total Non-Current Assets |
223.366 |
187.278 |
196.900 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
311.606 |
176.872 |
174.406 |
|
(c) Trade receivables |
57.662 |
32.915 |
96.900 |
|
(d) Cash and cash
equivalents |
7.266 |
9.805 |
2.094 |
|
(e) Short-term loans and
advances |
51.216 |
55.122 |
49.978 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
427.750 |
274.714 |
323.378 |
|
|
|
|
|
|
TOTAL |
651.116 |
461.992 |
520.278 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1006.029 |
1019.777 |
805.459 |
|
|
|
Other Income |
13.968 |
17.308 |
14.612 |
|
|
|
TOTAL |
1019.997 |
1037.085 |
820.071 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
509.154 |
574.367 |
482.470 |
|
|
|
Purchases of stock-in-trade |
2.130 |
8.865 |
7.181 |
|
|
|
Changes in inventories
of finished goods, work-in-progress and stock-in-trade |
(17.585) |
(7.983) |
(19.777) |
|
|
|
Employee benefit expense |
33.054 |
31.949 |
29.680 |
|
|
|
Other expenses |
432.583 |
369.487 |
274.239 |
|
|
|
TOTAL |
959.336 |
976.685 |
773.793 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
60.661 |
60.400 |
46.278 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
31.393 |
26.727 |
21.039 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
29.268 |
33.673 |
25.239 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
17.697 |
17.350 |
16.430 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
11.571 |
16.323 |
8.809 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.722 |
5.259 |
2.014 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
10.849 |
11.064 |
6.795 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of goods calculated on FOB basis |
33.399 |
17.877 |
154.383 |
|
|
TOTAL EARNINGS |
33.399 |
17.877 |
154.383 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
67.454 |
94.809 |
110.045 |
|
|
TOTAL IMPORTS |
67.454 |
94.809 |
110.045 |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss)
Per Share (Rs.) |
3.36 |
3.43 |
2.10 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.06
|
1.07 |
0.83 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.15
|
1.60 |
1.09 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.87
|
3.56 |
1.70 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.14
|
0.23 |
0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.84
|
1.30 |
3.53 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.99
|
0.98 |
0.95 |
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 |
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 |
No |
|
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 |
Yes |
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Loans and advance from related parties |
18.453 |
14.819 |
|
|
|
|
|
Total |
18.453 |
14.819 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
90076260 |
06/11/1998 |
70,000,000.00 |
INDUSTRIAL DEVELOPMENT BANK OF INDIA |
IDBI TOWER, CUFFE PARADE; COLABA, MUMBAI, Maharashtra - 400005, INDIA |
- |
|
2 |
90075713 |
13/10/2012 * |
389,600,000.00 |
STATE BANK OF MYSORE |
MARGAO BRANCH, GROUND FLOOR, DAMODAR CHAMBERS, ISIDOSIO BAPTISTA ROAD,
MARGAO, Goa - 403601, INDIA |
B61511788 |
|
3 |
90077145 |
07/09/1996 * |
36,500,000.00 |
STATE BANK OF MYSORE |
MARGAO BRANCH, MARGAO, Goa, INDIA |
- |
|
4 |
90077094 |
01/10/1997 * |
14,400,000.00 |
STATE BANK OF MYSORE |
MARGAO BRANCH, MARGAO, Goa, INDIA |
- |
* Date of charge modification
PERFORMANCE:
The year has
witnessed the Company post a turnover of Rs.1004.731 millions as against Rs. 1018.380
millions in the previous year. This indicates a slight decrease in the
turnover. The net profit for the year stands at 10.850 millions as compared to
Rs. 11.064 millions for the last year. This constitutes a marginal drop in the
profits. The performance overall has not changed, when compared to the previous
year and hopefully should improve if there is any positive shift in the current
downward trend.
FIXED ASSETS
v
Land
v
Buildings
v
Plant and Equipment
v
Furniture and Fixtures
v
Vehicles
v
Office Equipment
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.62.71 |
|
|
1 |
Rs.103.50 |
|
Euro |
1 |
Rs.85.82 |
INFORMATION DETAILS
|
Information Gathered
by : |
JML |
|
|
|
|
Report Prepared
by : |
ANK |
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 |
2 |
|
--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 |
|
27 |
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.