MIRA
INFORM REPORT
|
Report Date : |
14.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
RIGHT TIGHT FASTNERS PRIVATE LIMITED |
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Registered
Office : |
18-A, Manish Kaveri, Off |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
01.05.1979 |
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Com. Reg. No.: |
11-021250 |
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Capital
Investment / Paid-up Capital : |
Rs.172.500 Millions |
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CIN No.: [Company Identification
No.] |
U28991MH1979PTC021250 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMR14786C |
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PAN No.: [Permanent Account No.] |
AAAFR3274M |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturers of Internal and External threaded Speciality
Fasteners. |
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No. of Employees
: |
400 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2200000 |
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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 a satisfactory track record. Financial position of the company seems to be decent. Trade relations are reported as fair. Business is active. Payment terms
are reported to be usually correct. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
N E W S
The economy grew 4.7
%in 2013/14, marking a second straight year of sub-5 % growth – the worst
slowdown in more than a quarter of a century. The data was below an official
estimate of 4.9 % annual growth and compared with 4.5 % in the last fiscal
year. However, the current account deficit narrowed sharply to $ 32.4 billion
at 1.7 % of gross domestic product, in 2013/14 from a record high of $ 98.8
billion or 4.7 %, the year before.A sharp fall in gold imports due to
restrictions on overseas purchases and muted import of capital goods helped
shrink the current account deficit.
Online retailer
Flipkart has acquired fashion portal Myntra as it prepares to battle with the
rapidly expanding India arm of the global e-commerce giant Amazon. The company
raised $ 210 million from Russian Investment firm DST Global which has also
invested in companies like Facebook, Twitter and Alibaba Group.
General Motors will
start exporting vehicles from its Talegaon plant near Pune in the second half
of 2014. GM was one of the few global carmakers that was using its India plant
only for the domestic market.
Google has overtaken
Apple as the world’s top brand in terms of value, according to global market
research agency Millward Brown. Google’s brand value shot up 40 % in a year to $
158.84 billion. The top 10 of the 100 slots were dominated by US companies.
Infosys lost another
heavy weight when B G Srinivas, a board member put in his papers. He is the
third CEO-hopeful to quit after Chairman N R Narayana Murthy’s return to the
company – Ashok Vemuri and V Balakrishnan being the other two.While Vemuri went
on to lead IGate, Balakrishnan joined politics.
Naresh Goyal –
promoted Jet Airways posted biggest quarterly loss – Rs 2153.37 crore – in the
three months ended March 31, mainly because it has been offering discounts to
passengers to fill planes.
William S Pinckney –
Chairman and CEO of Amway India was arrested by the Andhra Pradesh Police in
connection with a complaint against the direct selling firm. This is the second
time that he has been taken into custody. A year, ago the Kerala Police had
arrested Pinckney and two company directors on charges of financial
irregularities.
China has told its
state-owned enterprises to sever links with American consulting firms after the
United States charged five Chinese military officers wih hacking US companies.
China’s action which targets consultancies like McKinsey & Co. and the
Boston Consulting Group, sterns from fears that the first are providing trade
secrets to the US governments.
India has emerged as
a country with some of the highest unregistered businesses in the world.
Indonesia has the maximum number of shadow businesses, says a study of 68
countries by Imperial College Business School in London.
Pfizer has abandoned
its attempt to buy AstraZeneca for nearly $ 118 billion after the latter
refused an offer of 55 pounds a share.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating = BBB |
|
Rating Explanation |
Have moderate degree of safety and carry
moderate credit risk |
|
Date |
20.03.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = A3+ |
|
Rating Explanation |
Have moderate degree of safety and carry
higher credit risk |
|
Date |
20.03.2014 |
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. Vilas |
|
Designation : |
Finance Department |
|
Contact No.: |
91-253-6696720 |
|
Date : |
12.07.2014 |
LOCATIONS
|
Registered Office : |
18-A, Manish Kaveri, Off J.P. Road, Four Bunglows, Andheri (West),
Mumbai – 400053, Maharashtra, India |
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Tel. No.: |
Not Available |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Factory 1 : |
F-46/47, MIDC Satpur, Nashik – 422007, Maharashtra, India |
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Tel. No.: |
91-253-2350786 / 2350787 / 2353786 / 6696720 |
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Fax No.: |
91-253-2351786/ 787/ 788 |
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E-Mail : |
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Factory 2 : |
Plot No. 70, Sector - 6, IIE, SIDCUL, Pantnagar, Udham Singh Nagar – 263153, Uttarakhand, India |
DIRECTORS
As on 30.09.2013
|
Name : |
Mrs. Rajenderkaur Balwantsingh Chhabra |
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Designation : |
Director |
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Address : |
B-34 Nice, Satpur, Nashik – 422007, Maharashtra, India |
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Date of Birth/Age : |
12.10.1940 |
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Date of Appointment : |
01.05.1979 |
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PAN No : |
ADDPC7216J |
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DIN No.: |
00289684 |
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Name : |
Mr. Amarjeetsingh B Chhabra |
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Designation : |
Director |
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Address : |
B-34 Nice, Satpur, Nashik – 422007, Maharashtra, India |
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Date of Birth/Age : |
03.11.1970 |
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Date of Appointment : |
14.12.1994 |
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PAN No: |
AAEPC3541Q |
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DIN No.: |
00289802 |
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Other Directorship:
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Name : |
Mr. Balbirsingh B Chhabra |
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Designation : |
Chairman cum Managing Director |
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Address : |
B-34 Nice, Satpur, Nashik – 422007, Maharashtra, India |
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Date of Birth/Age : |
20.07.1960 |
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Date of Appointment : |
14.12.1994 |
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PAN No: |
ADDPC7217K |
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DIN No.: |
00309800 |
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Other Directorship:
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Name : |
Mr. Amolaksingh B Chhabra |
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Designation : |
Director |
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Address : |
B-34 Nice, Satpur, Nashik – 422007, Maharashtra, India |
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Date of Birth/Age : |
30.04.1965 |
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Date of Appointment : |
14.12.1994 |
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PAN No : |
AAEPC3542P |
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DIN No.: |
00309833 |
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Other Directorship:
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KEY EXECUTIVES
|
Name : |
Mr. Vilas |
|
Designation : |
Finance Department |
MAJOR SHAREHOLDERS
As on 30.09.2013
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Rajinderkaur Balwantsingh Chhabra |
238150 |
13.81 |
|
Amarjeetsingh B Chhabra |
452900 |
26.26 |
|
Balbirsingh Balwantsingh Chhabra |
482800 |
27.99 |
|
Amolaksingh B Chhabra |
438150 |
25.40 |
|
Sardarni Inderpal Kaur B Chhabra |
20000 |
1.16 |
|
Sardarni Sonia B Chabra |
20000 |
1.16 |
|
Ritu Amarjeetsingh Chhabra |
20000 |
1.16 |
|
Ashmeetkaur Amolksingh Chhabra |
22000 |
1.28 |
|
Jasneetkaur Dilpreet Gulati |
22000 |
1.28 |
|
Kirankaur Balwantsingh Chhabra |
9000 |
0.52 |
|
Total |
1725000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2013
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00ss |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers of Internal and External threaded Speciality
Fasteners. |
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Products : |
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Exports : |
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Countries : |
Europe |
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Imports : |
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Products : |
Raw Material Finished Goods |
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Countries : |
Europe |
GENERAL INFORMATION
|
Customers : |
·
Tata Motors ·
Ashok Leyland ·
John Deere Tractors ·
Piaggio ·
JCBs ·
Johnson ·
Bailey ·
ACE ·
Greaves |
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No. of Employees : |
400 (Approximately) |
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Bankers : |
·
State Bank of India, Satpur Industrial Branch,
Satpur, Nashik – 422007, Maharashtra, India ·
Small Industries Development Bank of India, The
Capital', 2nd Floor, Thakkar Lane, Near Kulkarni Garden, Sharanpur Road,,
Nashik - 422002, Maharashtra, India ·
ICICI Bank Limited, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
J J Samtani and Company Chartered Accountants |
|
Address : |
18-A/31, Manish Kaveri, Off J P Road, Four Bunglows, Andheri (West), Mumbai
– 400 053, Maharashtra, India |
|
Tel. No.: |
91-22-66781055/ 26354010 |
|
sPAN No.: |
AAKPS3415K |
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|
Associates : |
·
Shree Balaji Zincalloys Private
Limited CIN No.: U51420MH2005PTC152448 ·
Shreeji Coaters Private Limited CIN No.: U51504MH2008PTC180616 |
|
|
|
|
Enterprise in which
Key Management Personnel have significant influence |
·
Avadhoot Heat Treat Private Limited ·
Autofast |
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.100/- each |
Rs.200.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1725000 |
Equity Shares |
Rs.100/- each |
Rs.172.500 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 |
172.500 |
172.500 |
133.100 |
|
(b) Reserves & Surplus |
383.019 |
247.290 |
113.522 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
20.700 |
|
Total Shareholders’
Funds (1) + (2) |
555.519 |
419.790 |
267.322 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
240.877 |
198.621 |
192.121 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
20.073 |
0.000 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
12.262 |
94.753 |
112.565 |
|
Total Non-current Liabilities (3) |
253.139 |
313.447 |
304.686 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
184.705 |
176.827 |
120.978 |
|
(b) Trade payables |
205.804 |
225.221 |
79.610 |
|
(c) Other current
liabilities |
61.441 |
61.359 |
13.734 |
|
(d) Short-term provisions |
14.889 |
16.360 |
58.624 |
|
Total Current Liabilities (4) |
466.839 |
479.767 |
272.946 |
|
|
|
|
|
|
TOTAL |
1,275.497 |
1,213.004 |
844.954 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
538.653 |
569.344 |
259.207 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
80.580 |
43.379 |
146.234 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1.061 |
1.061 |
1.063 |
|
(c) Deferred tax assets (net) |
15.270 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
118.503 |
16.976 |
2.630 |
|
(e) Other Non-current assets |
0.638 |
0.709 |
101.185 |
|
Total Non-Current Assets |
754.705 |
631.469 |
510.319 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
251.168 |
262.413 |
144.895 |
|
(c) Trade receivables |
204.213 |
248.155 |
135.922 |
|
(d) Cash and cash
equivalents |
33.978 |
29.469 |
21.556 |
|
(e) Short-term loans and
advances |
8.112 |
12.439 |
10.270 |
|
(f) Other current assets |
23.321 |
29.059 |
21.992 |
|
Total Current Assets |
520.792 |
581.535 |
334.635 |
|
|
|
|
|
|
TOTAL |
1,275.497 |
1,213.004 |
844.954 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
|
|
|
INCOME |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
NA |
NA |
169.388 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
NA |
NA |
29.938 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
NA |
NA |
139.450 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
NA |
NA |
37.209 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
NA |
NA |
102.241 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
NA |
35.760 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
135.728 |
137.096 |
66.481 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
243.376 |
106.280 |
39.799 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
379.104 |
243.376 |
106.280s |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
19.598 |
15.434 |
NA |
|
|
TOTAL EARNINGS |
19.598 |
15.434 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
79.00 |
65.45 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA |
NA |
14.65 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA |
NA |
0.38 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.77 |
0.89 |
1.17 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.12 |
1.21 |
1.23 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Share Capital |
133.100 |
172.500 |
172.500 |
|
Reserves & Surplus |
113.522 |
247.290 |
383.019 |
|
Share Application money pending
allotment |
20.700 |
0.000 |
0.000 |
|
Net
worth |
267.322 |
419.790 |
555.519 |
|
|
|
|
|
|
long-term borrowings |
192.121 |
198.621 |
240.877 |
|
Short term borrowings |
120.978 |
176.827 |
184.705 |
|
Total
borrowings |
313.099 |
375.448 |
425.582 |
|
Debt/Equity
ratio |
1.171 |
0.894 |
0.766 |
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 |
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 |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
---------- |
|
22] |
Litigations that the firm
/ promoter involved in |
---------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
---------- |
|
26] |
Buyer visit details |
---------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
UNSECURED LOANS:
|
Particulars |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
Long Term Borrowings |
|
|
|
Loans and advances from related parties |
3.800 |
1.218 |
|
Other loans and advances |
21.769 |
23.450 |
|
Total |
25.569 |
24.668 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10476669 |
23/01/2014 |
20,000,000.00 |
Small Industries Development Bank Of India |
The Capital', 2nd Floor,
Thakkar Lane, Near Kulkarni Garden, Sharanpur Road,, Nashik, Maharashtra |
B95977351 |
|
2 |
10415740 |
28/03/2013 |
30,000,000.00 |
SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA. |
1st Floor, Pingle Complex, Opp. Kulkarni Garden, Sharanpur Road,, Nashik, Maharashtra - 422002, India |
B72002520 |
|
3 |
10342567 |
24/02/2012 |
594,700,000.00 |
State Bank of India |
Satpur Industrial Area Branch, Satpur, Nashik, Maharashtra - 422007, India |
B35164292 |
|
4 |
90241374 |
28/03/2013 * |
641,400,000.00 |
State Bank of India |
Satpur Industrial Area Branch, Satpur, Nashik, Maharashtra - 422007, India |
B72096191 |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
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.60.18 |
|
|
1 |
Rs.103.15 |
|
Euro |
1 |
Rs.81.87 |
INFORMATION DETAILS
|
Information Gathered
by : |
GYT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
49 |
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.