MIRA INFORM REPORT
|
Report Date : |
12.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
ADVANCED SYS-TEK PRIVATE LIMITED (w.e.f. 31.10.2007) |
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|
|
Formerly Known
As : |
DANIEL MEASUREMENT AND CONTROL (INDIA) PRIVATE LIMITED ADVANCED SPECTRA-TEK PRIVATE LIMITED GE OIL AND GAS |
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Registered
Office : |
299/300 G I D C, Makarpura, Behind Novino Battery,
Vadodara – 390010, Gujarat |
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Country : |
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|
|
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Financials (as
on) : |
31.03.203 |
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Date of
Incorporation : |
16.03.1988 |
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Com. Reg. No.: |
04-010464 |
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Capital Investment
/ Paid-up Capital : |
Rs.19.649 Millions |
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CIN No.: [Company Identification
No.] |
U33112GJ1988PTC010464 |
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|
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Electrical equipment and trader of electrical
mechanical items, cable. Pipes, computer meter. |
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No. of Employees
: |
130 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1050000 |
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|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Exist |
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Comments : |
Subject is a subsidiary of GE Mauritius Infrastructure Holdings
Limited, Mauritius. It is an established company having moderate track
record. The rating is constrained on account of company’s moderate financial
risk profile marked by loss that company had incurred form its operation
during financial year 2013. However, trade relations are fair. Business is active. Payment terms
are slow but correct. The company can be considered for business dealings with some
caution. |
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.2453.2 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 PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Munjal Jani |
|
Designation : |
Finance Department |
|
Contact No.: |
91-265-3041100 |
|
Date : |
10.06.2014 |
LOCATIONS
|
Registered Office/ Factory : |
299/300 G I D C, Makarpura, Behind Novino Battery,
Vadodara – 390010, Gujarat, India |
|
Tel. No.: |
91-265-3041100 |
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Fax No.: |
91-265-3041111 |
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E-Mail : |
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Website : |
DIRECTORS
As on 02.08.2013
|
Name : |
Mr. Mukesh Rajnikant Kapadia |
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Designation : |
Director |
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Address : |
5812, Arunoday Society, Alkapuri, Vadodara – 390007, Gujrat, India |
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Date of Birth/Age : |
21.06.1950 |
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Date of Appointment : |
02.08.2013 |
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DIN No.: |
00048621 |
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Other Directorship:
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Name : |
Mr. Umed Amarchand Fifadra |
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Designation : |
Director |
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|
Address : |
Plot No. 4 and 5, Tandalja Road, Opposite Gulab Vatika Society, Vadodara – 390020, Gujrat, India |
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Date of Birth/Age : |
25.11.1949 |
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Date of Appointment : |
02.08.2013 |
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DIN No.: |
00049036 |
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Other Directorship:
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Name : |
Mrs. Manish Sinha |
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Designation : |
Director |
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|
Address : |
K-238, 154, Vijay Rattan Vihar, Gurgaon – 122001, Haryana, India |
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Date of Birth/Age : |
16.08.1676 |
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Date of Appointment : |
02.08.2013 |
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DIN No.: |
06481081 |
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Other Directorship:
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KEY EXECUTIVES
|
Name : |
Mr. Munjal Jani |
|
Designation : |
Finance Department |
MAJOR SHAREHOLDERS
As on 02.08.2013
|
Names of Shareholders |
|
No. of Shares |
|
Umed Fifadra |
|
314212 |
|
Mukesh Kapadia |
|
314212 |
|
Chirag Fifadra |
|
5000 |
|
Roshni Fifadra |
|
5000 |
|
Nisha Jain |
|
10000 |
|
GE Mauritius Infrastructure Holding Limited, Mauritius |
|
1316497 |
|
GE Pacific (Mauritius) Limited, Mauritius |
|
1 |
|
Total |
|
1964922 |
Equity Share Break up (Percentage of Total Equity)
As on 02.08.2013
|
Category |
Percentage |
|
Directors or relatives of Directors |
67.00 |
|
Other top fifty shareholders |
33.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Electrical equipment and trader of electrical mechanical
items, cable. Pipes, computer meter.
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Exports : |
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Products : |
Finished Goods |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
Sweden USA |
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Terms : |
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Selling : |
Others |
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Purchasing : |
Others |
GENERAL INFORMATION
|
Suppliers : |
Index Flooring and Metering System |
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Customers : |
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No. of Employees : |
130 (Approximately) |
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Bankers : |
Bank of India, Alkapuri Branch, 46, Gautamnagar Society,
Race Course Circle, Vadodara - 390007, Gujarat, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
B S R and Company Chartered Accountants |
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Address : |
Lodha Excelus, 1st Floor, Apolo Mills, N.M. Joshi Marg, Mahalakshmi,
Mumbai – 400011, Maharashtra, India |
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PAN No.: |
AAAFB9825F |
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Holding Company : |
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Ultimate Holding Company : |
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Fellow Subsidiaries : |
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CAPITAL STRUCTURE
As on 02.08.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4800000 |
Equity Shares |
Rs.10/- each |
Rs.48.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1964922 |
Equity Shares |
Rs.10/- each |
Rs.19.649 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 |
19.649 |
19.649 |
19.649 |
|
(b) Reserves & Surplus |
243.796 |
384.936 |
365.123 |
|
(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) |
263.445 |
404.585 |
384.772 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
1.904 |
1.556 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
1.151 |
|
(d) long-term provisions |
17.960 |
9.877 |
2.504 |
|
Total Non-current
Liabilities (3) |
17.960 |
11.781 |
5.211 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
59.580 |
52.927 |
0.000 |
|
(b) Trade
payables |
302.453 |
90.548 |
88.337 |
|
(c) Other
current liabilities |
315.591 |
28.225 |
26.695 |
|
(d) Short-term
provisions |
6.122 |
7.649 |
108.837 |
|
Total Current
Liabilities (4) |
683.746 |
179.349 |
223.869 |
|
|
|
|
|
|
TOTAL |
965.151 |
595.715 |
613.852 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
|
|
|
(ii)
Intangible Assets |
69.687 |
55.942 |
58.242 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
50.140 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
29.205 |
23.002 |
6.798 |
|
(e) Other Non-current
assets |
1.620 |
2.518 |
1.010 |
|
Total Non-Current
Assets |
150.652 |
81.462 |
66.050 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
115.082 |
|
(b)
Inventories |
117.837 |
80.176 |
66.449 |
|
(c) Trade
receivables |
90.614 |
383.031 |
314.721 |
|
(d) Cash
and cash equivalents |
11.704 |
24.683 |
23.722 |
|
(e)
Short-term loans and advances |
20.578 |
25.968 |
18.285 |
|
(f) Other
current assets |
573.766 |
0.395 |
9.543 |
|
Total
Current Assets |
814.499 |
514.253 |
547.802 |
|
|
|
|
|
|
TOTAL |
965.151 |
595.715 |
613.852 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
133.569 |
561.681 |
773.452 |
|
|
|
|
Other Income |
8.199 |
12.025 |
16.767 |
|
|
|
|
TOTAL (A) |
141.768 |
573.706 |
790.219 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
Cost of Materials Consumed |
20.036 |
29.965 |
45.401 |
|
|
|
|
Purchase of Stock-in-trade |
66.471 |
311.832 |
439.100 |
|
|
|
|
Changes in Inventories of finished goods, work-in-progress and
stock-in-trade |
(42.577) |
(10.511) |
(10.815) |
|
|
|
|
Employee Benefits Expenses |
87.678 |
81.052 |
65.848 |
|
|
|
|
Other Expenses |
155.145 |
115.510 |
125.031 |
|
|
|
|
Exceptional Items |
0.000 |
2.683 |
(1.964) |
|
|
|
|
Prior Period Items |
33.537 |
0.000 |
0.000 |
|
|
|
|
TOTAL (B) |
320.290 |
530.531 |
662.601 |
|
|
|
|
|
|
|
||
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(178.522) |
43.175 |
127.618 |
||
|
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES (D) |
5.563 |
7.630 |
1.867 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
(184.085) |
35.545 |
125.751 |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/
AMORTISATION (F) |
3.670 |
3.349 |
6.890 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G)
|
(187.755) |
32.196 |
118.861 |
||
|
|
|
|
|
|
||
|
Less |
TAX (H) |
(45.614) |
10.099 |
37.496 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
(142.141) |
22.097 |
81.365 |
||
|
|
|
|
|
|
||
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
||
|
|
|
Services |
8.462 |
5.755 |
6.757 |
|
|
|
|
Export Earnings |
3.995 |
14.596 |
15.296 |
|
|
|
TOTAL EARNINGS |
12.457 |
20.351 |
22.053 |
||
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|
|
|
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||
|
|
IMPORTS |
|
|
|
||
|
|
|
Raw Materials |
11.823 |
9.754 |
|
|
|
|
|
Stores & Spares |
28.775 |
23.539 |
|
|
|
|
TOTAL IMPORTS |
40.598 |
33.293 |
95.739 |
||
|
|
|
|
|
|
||
|
|
Earnings /
(Loss) Per Share (Rs.) |
(71.83) |
11.25 |
41.00 |
||
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(100.26) |
3.85 |
10.30 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(140.57) |
5.73 |
15.37 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(20.52) |
5.40 |
19.36 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.71) |
0.08 |
0.31 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.23 |
0.13 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.19 |
2.87 |
2.45 |
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 |
19.649 |
19.649 |
19.649 |
|
Reserves & Surplus |
365.123 |
384.936 |
243.796 |
|
Net
worth |
384.772 |
404.585 |
263.445 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
52.927 |
59.580 |
|
Total
borrowings |
0.000 |
52.927 |
59.580 |
|
Debt/Equity
ratio |
0.000 |
0.131 |
0.226 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales |
773.452 |
561.681 |
133.569 |
|
|
|
(27.380) |
(76.220) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales
|
773.452 |
561.681 |
133.569 |
|
Profit |
81.365 |
22.097 |
(142.141) |
|
|
10.52% |
3.93% |
(106.42%) |
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 |
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 |
Yes |
|
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 |
Yes |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
---------- |
|
26] |
Buyer visit details |
---------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
LITIGATION DETAILS
|
HIGH
COURT OF GUJARAT STAMP NUMBER No. 2291 of 2012
Last Listing Date: 29/11/2012
Office Objection
Other Forums
Office Details
Court Proceedings
Available Orders
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
BACKGROUND
The company is subsidiary of GE Mauritius
Infrastructure Holing Limited a subsidiary of General Electric Company USA. GE Mauritius
Infrastructure Holing Limited holds Sixty seven percentage, of the issued and
paid up share capital of the company. The company offers complete automation
and metering solution to customer using project management expertise and
specialized knowledge of the oil and gas measurement industry. This enables
customers to measure, automate and control the transportation and distribution
of their through pipelines, tank trucks, barges and rail wagons.
PERIOD IN RETROSPECT’S
The turnover of the company was Rs.133.569
Millions in the current year as against Rs.561.681 Millions in the previous
year. The reduction is mainly attributable to the change in the accounting
process of the company in the current year. In previous year, the company used
to account for revenue as and when the materials were dispatched at site or
services rendered in case of terminal automation projects. However, effective
current year the company recognizes revenue from the subjects wherever its not
specifically provided inly on the completion of the projects.
During the year, the prices of material
remained volatile but the company managed to have delivery as scheduled barring
in a few instances where the situation was adverse. In terminal automation
market they continue to lead the market by grabbing all time high orders in the
year, the company has booked orders more the Rs.1150.000 Millions during the
year and hence a very strong backlog position.
The company is confident of monitoring its marketing
leadership and shall continue to show consistent performance.
NO CHARGES EXIST FOR THE COMPANY
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 records 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.59.33 |
|
|
1 |
Rs.99.42 |
|
Euro |
1 |
Rs.80.32 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
30 |
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.