MIRA INFORM REPORT
|
Report Date : |
08.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
SPARR ELECTRONICS LIMITED |
|
|
|
|
Registered
Office : |
No.43, Yms Complex, Hmt Main Road, Mathikere, Bangalore – 560054,
Karnataka |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
05.05.1987 |
|
|
|
|
Com. Reg. No.: |
08-008334 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 0.888 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U85110KA1987PLC008334 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
The company is engaged in the Development and Manufacture of need based innovative products in the field of Electronics and Telecommunication. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 33000 |
|
|
|
|
Status : |
Small company |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is a small company in its field. Its scales of activities are
limited. However, trade relations are reported to be fair. Business is active. Payment
terms are slow but correct. The company can be considered for small 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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 DECLINED
Management Non-Cooperative (91-80-23602836)
LOCATIONS
|
Registered Office : |
No.43, Yms Complex, Hmt Main Road, Mathikere, Bangalore – 560054, Karnataka, India |
|
Tel. No.: |
91-80-23602836 / 23606308 |
|
Fax No.: |
91-80-23608346 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branch Office : |
902, C Wing, Greenfield Towers, Kalina, Khadamwadi, Santacruz (East), Mumbai - 400055, Maharashtra, India |
|
Tel. No.: |
91-22-26655375 |
|
Fax No.: |
91-9820234127 |
|
E-Mail : |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Mohandas Ukkandath |
|
Designation : |
Managing Director |
|
Address : |
35, 3rd Cross, Vignannagar Extn, Mallespalya, Bangladesh – 560075,
Karnataka, India |
|
Date of Birth/Age : |
19.05.1958 |
|
Date of Appointment : |
14.06.1991 |
|
DIN No.: |
01935916 |
|
|
|
|
Name : |
Mr. Choukahalli Kanakaraju Prakash |
|
Designation : |
Director |
|
Address : |
99, 11th Main Road, Srinagar, Basvangudi, Bangalore –
560050, Karnataka, India |
|
Date of Birth/Age : |
12.05.1963 |
|
Date of Appointment : |
14.12.1995 |
|
DIN No.: |
02688223 |
|
|
|
|
Name : |
Mrs. Anita Mohandas |
|
Designation : |
Director |
|
Address : |
35, 3rd Cross, Vignannagar Extn, Mallespalya, Bangladesh –
560075, Karnataka, India |
|
Date of Birth/Age : |
30.09.1961 |
|
Date of Appointment : |
10.10.1994 |
|
DIN No.: |
01936119 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Mohandas Ukkandath |
|
26750 |
|
Anitha Mohandas |
|
21400 |
|
Prakash C K |
|
5350 |
|
Roopa Ravichandra |
|
21400 |
|
Padma Sugavanam |
|
21400 |
|
Umashankar R |
|
5350 |
|
Sujeeth S |
|
5350 |
|
Total |
|
107000 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
{{{{{ copy & paste graph & table here from excel sheet –
shareholding pattern chart }}}}}
BUSINESS DETAILS
|
Line of Business : |
The company is engaged in the Development and Manufacture
of need based innovative products in the field of Electronics and Telecommunication. |
GENERAL INFORMATION
|
Customers : |
|
|
|
|
|
No. of Employees : |
Information declined by the management |
|
|
|
|
Bankers : |
Bank of Baroda, Apmc Yard Branch, Yeshwanthpur, Bangalore
- 560022, Karnataka, India |
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|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
D H Prabhakar and Company Chartered Accountants |
|
Address : |
76/45, Anjanadri, 2nd Main, 41st Cross, 8th
Block, Jayanagar, Bangalore – 560082, Karnataka, India |
|
Tel. No.: |
91-80-40966057 |
|
E-Mail : |
|
|
PAN No.: |
AENPP5691K |
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
107000 |
Equity Shares |
Rs.10/- each |
Rs.1.070 Millions |
|
|
|
|
|
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
|
|
|
|
|
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
107000 |
Equity Shares |
Rs.10/- each |
Rs.1.070 Millions |
|
|
|
|
|
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
85610 |
Equity Shares |
Rs.10/- each |
Rs.0.856 Million |
|
21390 |
Equity Shares |
Rs.1.50 /- each |
Rs.0.032
Million |
|
|
Total |
|
Rs.0.888 Million |
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 |
0.888 |
0.888 |
0.856 |
|
(b) Reserves & Surplus |
7.499 |
7.399 |
7.300 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.032 |
|
Total
Shareholders’ Funds (1) + (2) |
8.387 |
8.287 |
8.188 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short
term borrowings |
1.663 |
1.352 |
0.915 |
|
(b) Trade
payables |
2.839 |
2.822 |
2.077 |
|
(c) Other
current liabilities |
0.817 |
0.187 |
0.132 |
|
(d) Short-term
provisions |
0.066 |
0.036 |
0.000 |
|
Total Current
Liabilities (4) |
5.385 |
4.397 |
3.124 |
|
|
|
|
|
|
TOTAL |
13.772 |
12.684 |
11.312 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1.338 |
1.632 |
1.765 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(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) |
0.034 |
0.034 |
0.034 |
|
(d) Long-term Loan and Advances |
0.559 |
0.541 |
0.000 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
1.931 |
2.207 |
1.799 |
|
|
|
|
|
|
(2) Current
assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
2.989 |
2.387 |
1.502 |
|
(c) Trade
receivables |
2.455 |
2.568 |
1.997 |
|
(d) Cash
and cash equivalents |
4.235 |
4.062 |
4.622 |
|
(e) Short-term
loans and advances |
2.162 |
1.460 |
0.000 |
|
(f) Other
current assets |
0.000 |
0.000 |
1.392 |
|
Total
Current Assets |
11.841 |
10.477 |
9.513 |
|
|
|
|
|
|
TOTAL |
13.772 |
12.684 |
11.312 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
27.641 |
25.465 |
27.351 |
|
|
|
Other Income |
0.394 |
1.185 |
0.418 |
|
|
|
TOTAL (A) |
28.035 |
26.650 |
27.769 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of Stock-in-Trade |
15.630 |
13.457 |
14.837 |
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(0.601) |
(0.886) |
(0.127) |
|
|
|
Employees benefits expense |
8.507 |
8.764 |
7.302 |
|
|
|
Other expenses |
3.788 |
4.772 |
4.516 |
|
|
|
TOTAL (B) |
27.324 |
26.107 |
26.528 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
0.711 |
0.543 |
1.241 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.230 |
0.101 |
0.065 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
0.481 |
0.442 |
1.176 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.315 |
0.307 |
0.311 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
0.166 |
0.135 |
0.865 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.066 |
0.035 |
0.254 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
0.100 |
0.100 |
0.611 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
0.730 |
1.181 |
2.129 |
|
|
TOTAL EARNINGS |
0.730 |
1.181 |
2.129 |
|
|
|
|
|
|
|
|
|
|
CIF VALUE OF
IMPORTS |
10.782 |
9.470 |
10.614 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.93 |
0.93 |
5.71 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.36 |
0.38 |
2.20 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.60 |
0.53 |
3.16 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.21 |
1.07 |
7.67 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02 |
0.02 |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.20 |
0.16 |
0.11 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.20 |
2.38 |
3.05 |
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 |
0.856 |
0.888 |
0.888 |
|
Reserves & Surplus |
7.300 |
7.399 |
7.499 |
|
Net
worth |
8.156 |
8.287 |
8.387 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.915 |
1.352 |
1.663 |
|
Total
borrowings |
0.915 |
1.352 |
1.663 |
|
Debt/Equity
ratio |
0.112 |
0.163 |
0.198 |
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 |
27.351 |
25.465 |
27.641 |
|
|
|
(6.896) |
8.545 |
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 |
27.351 |
25.465 |
27.641 |
|
Profit |
0.611 |
0.100 |
0.100 |
|
|
2.23% |
0.39% |
0.36% |
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 |
No |
|
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 |
Yes |
|
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 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
90192248 |
06/04/2000 |
300,000.00 |
BANK OF BARODA |
APMC YARD BRANCH, YESHWANTHPUR, BANGALORE, KARNATAKA - 560022, INDIA |
- |
|
2 |
90192198 |
24/01/2000 |
84,000.00 |
BANK OF BARODA |
POST BOX NO. 2222, 45; TUMKUR ROAD, BANGALORE, KARNATAKA - 560022, INDIA |
- |
|
3 |
90192019 |
21/01/1999 |
200,000.00 |
BANK OF BARODA |
APMC YARD BRANCH, YESHWANTHPUR, BANGALORE, KARNATAKA - 560022, INDIA |
- |
* Date of charge modification
FIXED ASSETS
- Computer
- Plant and Machinery
- Office Equipments
- Vehicles
- Furniture and fixtures
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] 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.60.09 |
|
|
1 |
Rs.102.07 |
|
Euro |
1 |
Rs.84.53 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYN |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--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 |
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 |
|
29 |
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.