MIRA
INFORM REPORT
|
Report Date : |
29.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
SAM MANUFACTURING LIMITED (w.e.f.05.04.2010) |
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Formerly known
as: |
SAM MANUFACTURING PRIVATE LIMITED |
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Registered
Office : |
Rz-D87 Raj Nagar-II Palam New |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
10.05.2001 |
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Com. Reg. No.: |
55-110779 |
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Paid-up Capital
: |
Rs.16.635 Millions |
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CIN No.: [Company Identification
No.] |
U34300DL2001PLC110779 |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
The Company is in the Manufacturing and Assembling Business of
Blowmoulded Automobile Parts. |
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No. of Employees
: |
Not Divulged |
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 120000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. The rating reflects moderate financial risk profile marked by
stretched liquidity position and low profitability of the company. 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 – 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 |
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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
The worst is over for India’s economy with gross domestic product likely
to expand 5 %to 5.5 % this year and more than 6 % in 2015, according to Moody’s
Analytics. Concerns over the rupee and current account deficit are under
control, said the agency. Ratings firm Crisil has forecast 6 % growth for
2014/15 up from the estimated 4.8 % for 2013/14. Total economic growth,
infrastructure bottlenecks and lack of transparency and consistency in foreign
direct investment policies seem to have taken a toll on India’s attractiveness
as an investment destination, says an Ernst & Young survey. Projects
with FDI component fell 16.4 % across the globe in 2012 from the previous
year. The drop in India was steeper at 21 %. State run carrier Air India
is doling out free tickets to its 24000 employees, even as it expects to incur
a loss of Rs 39000 mn this financial year and has a debt of Rs 350000 mn.
550000 number of jobs generated across India in 2013, a fall of 0.4 % as
compared to with a year earlier. The National Capital Region has a
one-fourth share in total jobs created, according to a study by industry lobby
group Assochem, Banks, real estate, automobile and telecommunications sectors
are showing a rise of job creation. $ 805 mn investments by venture capital firms
in India during 2013, registering a drop of about 18 % over the previous year.
The Information Technology and IT-Enabled Services Industry retained its
status as the favourable venture capital investors in 2013. Pakistan has
temporarily banned gold imports for the second time in six months, as it tries
to stem smuggling into India. India’s import duty on gold is 10 % and curbs on
purchases have dried up legal imports into what used to be the world’s biggest
bullion buyers. The World Gold Council puts the amount smuggled into India at
upto 200 tonnes in 2013. The Reserve Bank of India has proposed that unclaimed
bank deposits estimated to be about Rs 35000 mn be used for education and
awareness among depositors. According to the plan, deposits that have not
been claimed for at least 10 years will be transferred to the scheme.
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 DINIED BY
|
Name : |
Mr. Surendra More |
|
Contact No.: |
91-9860796905 |
|
Date : |
26.02.2013 |
LOCATIONS
|
Registered Office: |
Rz-D87 Raj Nagar-Ii Palam New Delhi – 110045, Delhi, India |
|
Tel No: |
Not Available |
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Mob No: |
91-9860796905 (Mr. Surendra More) |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Factory : |
Gut No. 343, Plot No.-13 to 19, Village. Mahalunge (Ingle), Chakan –
Talegaon Road, Taluka Khed, Pune-410501, Maharashtra, India |
|
Tel. No.: |
91-9970009401 (Mr. Akash Gupta – Plant Head) |
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E-Mail : |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Aditya Agarwal |
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Designation : |
Director |
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Address : |
A – 801, 8th Floor, Mantri Lawns Near Anand Park, Aundh, Pune
– 411007, Maharashtra, India. |
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Date of Appointment : |
10.05.2001 |
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E- Mail : |
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DIN No.: |
00080758 |
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Other Directorship:
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Name : |
Mr. Rajesh Kumar Rustagi |
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Designation : |
Director |
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Address : |
RZ – D87Ra Nagar – II, Palam, Delhi 110045, India |
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Date of Birth/Age : |
20.12.1975 |
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Date of Appointment : |
22.09.2008 |
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DIN No.: |
02128565 |
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Other Directorship:
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|
Name : |
Mr. Bhairav Dutt Joshi |
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Designation : |
Director |
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Address : |
99-B, Udal Nagar, Ghaziabad, Uttar Pradesh – 201001, India |
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Date of Birth/Age : |
01.01.1969 |
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Date of Appointment : |
20.09.2010 |
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DIN No.: |
03031863 |
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Other Directorship:
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Name
of Shareholders |
No.
of Shares |
Percentage
of Holding |
|
|
4,950 |
0.30 |
|
|
100 |
0.01 |
|
Minda Investments Limited,
India |
100,000 |
6.01 |
|
Pioneer Finest Limited |
395,000 |
23.75 |
|
Singhal Fincap Limited |
310,000 |
18.64 |
|
M.G. Portfolio Limited, India |
180,000 |
10.82 |
|
Minda Projects Limited, India |
125,000 |
7.51 |
|
Sheetal Farms Limited, India |
104,950 |
6.31 |
|
Bhairav Trade Link Limited,
India |
260,000 |
15.63 |
|
Shivmani Barter Private
Limited, India |
183,500 |
11.03 |
|
Total |
1,663,500 |
100.00 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
99.69 |
|
Directors or relatives of Directors |
0.30 |
|
Other top fifty shareholders |
0.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is in the Manufacturing and Assembling Business of
Blowmoulded Automobile Parts. |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
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Bankers : |
Bank of Maharashtra
Chakan Branch, District Pune, Pune - 411005, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
--- |
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Auditors : |
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Name : |
Jain Ajay and Associates |
|
Address : |
104 Usha Kiran Building, Azadpur Commercial Complex, Delhi – 110033, India |
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Tel. No.: |
91-11-27674137 / 27452434 |
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E-Mail : |
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PAN No: |
ADIPJ2480L |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1750000 |
Equity Shares |
Rs.10/- each |
Rs. 17.500 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1663500 |
Equity Shares |
Rs.10/- each |
Rs.16.635
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
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|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
16.635 |
16.635 |
16.635 |
|
(b) Reserves & Surplus |
13.780 |
12.624 |
5.976 |
|
(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) |
30.415 |
29.259 |
22.611 |
|
|
|
|
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|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
12.063 |
14.199 |
|
(b) Deferred tax liabilities
(Net) |
0.465 |
0.678 |
0.921 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.465 |
0.200 |
0.299 |
|
Total
Non-current Liabilities (3) |
0.930 |
12.941 |
15.419 |
|
|
|
|
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
17.723 |
14.311 |
19.908 |
|
(b) Trade payables |
29.966 |
29.813 |
22.898 |
|
(c) Other current liabilities |
3.449 |
3.904 |
3.566 |
|
(d) Short-term provisions |
1.015 |
3.206 |
1.730 |
|
Total
Current Liabilities (4) |
52.153 |
51.234 |
48.102 |
|
|
|
|
|
|
TOTAL |
83.498 |
93.434 |
86.132 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
42.575 |
47.875 |
54.940 |
|
(ii) Intangible Assets |
0.346 |
0.082 |
0.139 |
|
(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) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.751 |
0.746 |
1.521 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
43.672 |
48.703 |
56.600 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
5.877 |
7.180 |
6.294 |
|
(c) Trade receivables |
31.842 |
33.328 |
17.351 |
|
(d) Cash and cash equivalents |
0.063 |
0.051 |
0.128 |
|
(e) Short-term loans and
advances |
2.044 |
4.172 |
5.759 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
39.826 |
44.731 |
29.532 |
|
|
|
|
|
|
TOTAL |
83.498 |
93.434 |
86.132 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
166.246 |
190.129 |
142.849 |
|
|
Other Income |
0.003 |
0.461 |
0.122 |
|
|
TOTAL
(A) |
166.249 |
190.590 |
142.971 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
107.308 |
124.317 |
85.242 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(0.233) |
0.962 |
(2.527) |
|
|
Employees benefits expense |
24.900 |
22.707 |
19.046 |
|
|
Other expenses |
23.278 |
21.646 |
19.752 |
|
|
TOTAL
(B) |
155.253 |
169.632 |
121.513 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
10.996 |
20.958 |
21.458 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
2.787 |
3.598 |
4.959 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
8.209 |
17.360 |
16.499 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
6.373 |
7.453 |
7.211 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
1.836 |
9.907 |
9.288 |
|
|
|
|
|
|
|
Less |
TAX
(H) |
0.679 |
3.259 |
3.119 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H)
(I) |
1.157 |
6.648 |
6.169 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs. 10/- each) |
0.69 |
4.00 |
3.71 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.70 |
3.49 |
4.31 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.10 |
5.21 |
6.50 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.20 |
10.60 |
10.78 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
6.04 |
33.86 |
41.08 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.51 |
0.90 |
0.58 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.76 |
0.87 |
0.61 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns.) |
(INR
in Mlns.) |
(INR
in Mlns.) |
|
Share Capital |
16.635 |
16.635 |
16.635 |
|
Reserves & Surplus |
5.976 |
12.624 |
13.780 |
|
Net
worth |
22.611 |
29.259 |
30.415 |
|
|
|
|
|
|
long-term borrowings |
14.199 |
12.063 |
0.000 |
|
Short term borrowings |
19.908 |
14.311 |
17.723 |
|
Total
borrowings |
34.107 |
26.374 |
17.723 |
|
Debt/Equity
ratio |
1.508 |
0.901 |
0.583 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Sales |
142.849 |
190.129 |
166.246 |
|
|
|
33.098 |
(12.561) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Sales |
142.849 |
190.129 |
166.246 |
|
Profit |
6.169 |
6.648 |
1.157 |
|
|
4.32% |
3.50% |
0.70% |
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 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 |
No |
|
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] |
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 |
UNSECURED LOAN
|
Particular |
Rs.
In Millions 31.03.2013 |
Rs.
In Millions 31.03.2012 |
|
Long Term
Borrowing |
|
|
|
Other Loan |
0.000 |
11.500 |
|
Short Term
Borrowing |
|
|
|
Other Loan |
11.827 |
3.900 |
|
Total |
11.827 |
15.400 |
REVIEW OF
OPERATIONS
During the year, the
realization on account of sale and other Income has been Rs. 166.249 Million as
compared to Rs. 190.590 Million for the previous year and the company has
earned Profit after Tax Rs.1.156 Million as compared to Profit after tax Rs.
6.648 Million for the previous year
BACKGROUND:
The company is in the manufacturing and
assembling business of blowmoulded automobile parts.
The accompanying financial statement reflects
the result of the activities undertaken by the company during the year ended
March 31, 2013
INDEX OF CHARGE:
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10100688 |
01/03/2008 |
4,705,000.00 |
BANK OF
MAHARASHTRA |
CHAKAN BRANCH, DISTRICT
PUNE, PUNE, Maharashtra - |
A37602729 |
|
2 |
10090097 |
18/01/2008 |
2,500,000.00 |
BANK OF
MAHARASSHTRA |
CHAKAN BRANCH,
DISTRICT PUNE, PUNE, Maharashtra - |
A33421769 |
|
3 |
10171092 |
16/01/2007 |
12,500,000.00 |
BANK OF
MAHARASHTRA |
CHAKAN BRANCH,
DISTRICT PUNE, PUNE, Maharashtra - |
A37592797 |
|
4 |
10005291 |
22/04/2006 |
19,000,000.00 |
BANK OF
MAHARASTRA |
LOK MANGAL 1501,
SHIVAJI NAGAR, PUNE, Maharashtra |
A00636639 |
|
5 |
10002262 |
07/09/2010 * |
7,000,000.00 |
BANK OF
MAHARASHTRA |
LOK MANGAL 1501,
SHIVAJI NAGAR, PUNE, Maharashtra |
B07913403 |
* Date of charge modification
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Furniture and fixtures
·
Office Equipment
·
Computers
·
Vehicle
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.62.07 |
|
|
1 |
Rs.103.61 |
|
Euro |
1 |
Rs.85.03 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
ART |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--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.