MIRA INFORM REPORT
|
Report Date : |
02.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
ADTECH SYSTEMS LIMITED [w.e.f 24.08.2007] |
|
|
|
|
Formerly Known
As : |
ADTECH POWER
SYSTEMS LIMITED |
|
|
|
|
Registered
Office : |
18, 3rd Floor, R.M.S. Apartment, 12, Gopalkrishna Iyer
Road, T. Nagar, Chennai-600017, Tamilnadu |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
05.02.1990 |
|
|
|
|
Com. Reg. No.: |
18-018678 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.27.781
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L33111TN1990PLC018678 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHEA08834A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACA5355K |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
The Company is an electronic
system integrator and provides a wide range of solutions in electronic
security systems with a pan India presence. |
|
|
|
|
No. of Employees
: |
Information denied by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (52) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 713800 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well-established company having fine track record. The rating reflects healthy financial risk profile marked by adequate
liquidity position and decent profitability of the company. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitments. The company can be considered good for normal 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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects
positive impact of the election cycle.
India’s economy may
grow 4.7 % in the current financial year, lower than the official estimate of 4.9
%, Fitch Rating said. The global rating agency expects the economy to pick up
in the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1
million Indian tourists in 2012), Thailand (one million), the United Arab
Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred
holidays hotspots for Indians. The total figure is expected to increase to 1.93
million by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
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 DECLINED BY
|
Name : |
Mr. Vinayan |
|
Contact No.: |
91-9895714130 |
|
Date : |
28.05.2014 |
LOCATIONS
|
Registered / Regional Office / Support Center : |
18, 3rd Floor, R.M.S. Apartment, 12, Gopalkrishna Iyer
Road, T. Nagar, Chennai-600017, Tamilnadu, India |
|
Tel. No.: |
91-44-28150967/28155137 |
|
Mobile No.: |
91-9895714130 [Mr. Vinayan] |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
5/2523, Golf Links, Kowdiar, Trivandrum-695003, Kerala, India |
|
Tel. No.: |
91-471-2433805/569 |
|
Fax No.: |
91-471-2434101 |
|
|
|
|
Regional Office / Support Center : |
Located At:
|
|
|
|
|
Branch Office : |
Located At:
|
DIRECTORS
AS ON 31.03.2013
|
Name : |
Mr. M.R. Narayanan |
|
Designation : |
Chairman |
|
|
|
|
Name : |
Mr. M.R. Subramanian |
|
Designation : |
Managing Director |
|
|
|
|
Name : |
Mr. N. Suresh |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. M.R. Krishnan |
|
Designation : |
Executive Director |
KEY EXECUTIVES
|
Name : |
Mr. S. Balamurali |
|
Designation : |
Company Secretary and Chief Finance Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2013
|
Names of Shareholders |
|
No. of Shares |
|
M.R. Narayanan |
|
448565 |
|
M.R. Subramanian |
|
556965 |
|
M.R. Krishnan |
|
522015 |
|
Tops Security Limited |
|
350000 |
BUSINESS DETAILS
|
Line of Business : |
The Company is an
electronic system integrator and provides a wide range of solutions in
electronic security systems with a pan India presence. |
GENERAL INFORMATION
|
No. of Employees : |
Information denied by the management. |
||||||||||||
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|
|
||||||||||||
|
Bankers : |
State Bank of India, SBI Branch, Trivandrum-695001, Kerala, India |
||||||||||||
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|
||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
M.R. Ramachandran and Company Chartered Accountants |
|
Address : |
9/1, Lynwood Avenue, Mahalingapuram, Chennai-600034, Tamilnadu, India |
|
|
|
|
Associates : |
|
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3600000 |
Equity Shares |
Rs.10/- each |
Rs.36.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2382750 |
Equity Shares |
Rs.10/- each
|
Rs.23.827
Millions |
|
|
Forfeited Shares |
|
Rs.3.954
Millions |
|
|
TOTAL
|
|
Rs.27.781 Millions |
|
|
|
|
|
NOTES:
SHARES ARE LISTED WITH
- Madras Stock Exchange
- Cochin Stock Exchange
- Ahmedabad Stock Exchange Associate
Limited
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
27.781 |
27.781 |
|
(b) Reserves &
Surplus |
|
150.686 |
112.371 |
|
(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) |
|
178.467 |
140.152 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.520 |
|
(b) Deferred tax
liabilities (Net) |
|
3.648 |
3.577 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
3.648 |
4.097 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
0.487 |
0.737 |
|
(b) Trade payables |
|
87.844 |
66.935 |
|
(c) Other current
liabilities |
|
11.596 |
10.957 |
|
(d) Short-term provisions |
|
50.334 |
57.908 |
|
Total Current Liabilities
(4) |
|
150.261 |
136.537 |
|
|
|
|
|
|
TOTAL |
|
332.376 |
280.786 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
7.088 |
16.976 |
|
(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 |
|
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.000 |
0.000 |
|
(e) Other Non-current
assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
7.088 |
16.976 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
85.294 |
79.871 |
|
(c) Trade receivables |
|
108.722 |
70.342 |
|
(d) Cash and cash
equivalents |
|
92.147 |
54.474 |
|
(e) Short-term loans and
advances |
|
39.125 |
59.123 |
|
(f) Other current assets |
|
0.000 |
0.000 |
|
Total Current Assets |
|
325.288 |
263.810 |
|
|
|
|
|
|
TOTAL |
|
332.376 |
280.786 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
|
516.282 |
417.127 |
|
|
Other Income |
|
6.165 |
2.964 |
|
|
TOTAL (A) |
|
522.447 |
420.091 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Purchases of
Stock-in-Trade |
|
375.197 |
292.106 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
(5.423) |
(9.379) |
|
|
Employees benefits
expense |
|
30.484 |
25.237 |
|
|
Other expenses |
|
37.137 |
42.150 |
|
|
Prior Period Items |
|
(1.566) |
(1.380) |
|
|
TOTAL (B) |
|
435.829 |
348.734 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION (C) |
|
86.618 |
71.357 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
|
0.239 |
2.081 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
86.379 |
69.276 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
0.941 |
6.318 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX (E-F) (G) |
|
85.438 |
62.958 |
|
|
|
|
|
|
|
Less |
TAX (H) |
|
31.791 |
20.347 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
(G-H) (I) |
|
53.647 |
42.611 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD (K) |
|
94.977 |
70.608 |
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
Transfer to General
Reserve |
|
5.387 |
4.400 |
|
|
Proposed Final Dividend |
|
13.105 |
4.765 |
|
|
Interim Dividend on
Equity Shares |
|
0.000 |
7.148 |
|
|
Tax on Proposed Dividend |
|
2.227 |
0.773 |
|
|
Tax on Interim Dividend |
|
0.000 |
1.160 |
|
|
Excess Tax Provision Made
Earlier Written Back |
|
0.000 |
0.005 |
|
|
|
|
|
|
|
|
BALANCE CARRIED TO THE
B/S |
|
127.905 |
94.968 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
Sales Incentives on
Orders Placed By |
|
120.076 |
68.177 |
|
|
customer On Overseas
Principals |
|
6.882 |
5.765 |
|
|
TOTAL EARNINGS |
|
126.958 |
73.942 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Purchases |
|
159.730 |
117.058 |
|
|
Capital Goods |
|
0.000 |
0.000 |
|
|
TOTAL IMPORTS |
|
159.730 |
117.058 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
|
22.51 |
17.88 |
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
|
10.27 |
10.14 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
16.55 |
15.09 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
25.70 |
22.42 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.47 |
0.45 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
|
0.00 |
0.01 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
2.16 |
1.93 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
|
31.03.2012 |
31.03.2013 |
|
|
|
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
|
27.781 |
27.781 |
|
Reserves & Surplus |
|
112.371 |
150.686 |
|
Net worth |
|
140.152 |
178.467 |
|
|
|
|
|
|
long-term borrowings |
|
0.520 |
0.000 |
|
Short term borrowings |
|
0.737 |
0.487 |
|
Total borrowings |
|
1.257 |
0.487 |
|
Debt/Equity ratio |
|
0.009 |
0.003 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
|
31.03.2012 |
31.03.2013 |
|
|
|
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
|
417.127 |
516.282 |
|
|
|
|
23.771 |
NET PROFIT MARGIN
|
Net Profit Margin |
|
31.03.2012 |
31.03.2013 |
|
|
|
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
|
417.127 |
516.282 |
|
Profit |
|
42.611 |
53.647 |
|
|
|
10.22% |
10.39% |
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 |
No |
|
11] |
Turnover of firm for last two years |
Yes |
|
12] |
Profitability for last two 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 |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
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 |
90302517 |
17/02/1994 * |
5,600,000.00 |
KERALA STATE INDUSTRIAL
DEVELOPMENT CORPORATION LIMITED |
KOWDIAR, TRIVANDRUM -
695003, Kerala, INDIA |
- |
|
2 |
90306019 |
11/01/2006 * |
5,600,000.00 |
KERALA STATE INDUSTRIAL
DEVELOPMENT CORPORATION LIMITED |
KAUDLAR,
THIRUVANANTHAPURAM - 695003, Kerala, INDIA |
- |
|
3 |
90303844 |
11/01/2006 * |
5,000,000.00 |
KERALA STATE INDUSTRIAL DEVELOPMENT
CORPORATION LIMITED |
KAUDLAR,
THIRUVANANTHAPURAM - 695003, Kerala, INDIA |
- |
* Date of charge modification
CORPORATE INFORMATION:
Subject was
incorporated on 05th February 1990 in Chennai, Tamilnadu. The Company is an
electronic system integrator and provides a wide range of solutions in
electronic security systems with a pan India presence.
|
Unsecured Loan |
As
on 31.03.2013 [Rs.
in Millions] |
As
on 31.03.2012 [Rs.
in Millions] |
|
Loan From Related Party [Director] Repayable on Demand |
0.487 |
0.737 |
|
TOTAL
|
0.487 |
0.737 |
PERFORMANCE/SALES
TURNOVER:
The Company achieved a Sales and Service Income of Rs 516.300 Millions for
the financial year as against a turnover of Rs 417.100 Millions for the
immediately preceding previous year which represents a growth of 23.78 percent.
FUTURE
PROSPECTS:
The company has put its vision to continue and strengthen its growth in spite
of the slowdown being felt in the market recently.
CONTINGENT
LIABILITIES NOT PROVIDED FOR:
a. Liabilities against bank
guarantees issued on behalf of the company for participating in tenders and
given as performance guarantee comes to Rs.0255 Million (Previous year
Rs.1.005 Millions). Banks have marked lien on Company’s fixed deposits to the
extent of outstanding bank guarantee amount.
b. Estimated amount of
contracts remaining to be executed on capital account and not provided for Rs.
Nil (Previous Year Rs. Nil)
c. There is no outstanding
(Previous year Rs. Nil/-) as on 31st March 2013 towards letters of credit
opened by the Company for purchases effected during the year.
FIXED ASSETS:
- Furniture and
Fittings
- Testing
Equipments
- Computer Systems
- Tools and
Fixtures
- Power Control
Accessories
- Office
Equipments
- Motor Car
- Land
- Software
Development
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.59.03 |
|
|
1 |
Rs.98.91 |
|
Euro |
1 |
Rs.80.34 |
INFORMATION DETAILS
|
Information Gathered
by : |
GYT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
TPT |
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 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
52 |
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.