MIRA INFORM REPORT
|
Report Date : |
07.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
TECH SUTRE INDUSTRIES LIMITED (w.e.f. 11.10.2010) |
|
|
|
|
Formerly Known
As : |
SUNLINE EXPORTS PRIVATE LIMITED |
|
|
|
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Registered
Office : |
6th Floor, 'A' Block Shivsagar Estate, Dr. Annie Besant
Road, Worli, Mumbai – 400018, Maharashtra, India |
|
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
07.07.2003 |
|
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Com. Reg. No.: |
11-141188 |
|
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Capital
Investment / Paid-up Capital : |
Rs.2.114 Million |
|
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|
|
CIN No.: [Company Identification
No.] |
U13200MH2003PLC141188 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
Line of Business
: |
Manufacturer and Exporter of
Coffee, Spices, Food Grains, Sugar, Tobacco Products, Coal,
Agriculture Products, Tea etc. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 47000 |
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|
Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Even though the comapny7 was incorporated during 07th July
2003. It has recently commence its business operations. As claimed by Mr. Dilip Sharma, Accounts Manager that company has started
its business activities from 15th February, 2013. Further he also
provided general information to us. As per available financial record of 2013, company has taken huge
external borrowing which acts as threatening to the liquidity position of the
company. However, trade relations are improving. Business is active. Payment
terms are slow. The company can be considered for business dealing with great 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.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. Nilesh Patankar |
|
Designation : |
Office Executive |
|
Contact No.: |
91-22-66619000 |
|
Date : |
03.05.2014 |
LOCATIONS
|
Registered Office : |
6th Floor, 'A' Block Shivsagar Estate, Dr. Annie Besant
Road, Worli, Mumbai – 400018, Maharashtra, India |
|
Tel. No.: |
91-22-66619657/ 66619000 |
|
Fax No.: |
91-22-66619090 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
(AS ON 25.09.2013)
|
Name : |
Mr. Vinay Rohidas Patil |
|
Designation : |
Director |
|
Address : |
302, Puma Complex, Sir
Pochkhanwala Road, Worli, Mumbai - 400 025, Maharashtra, India |
|
Date of Birth/Age : |
22.03.1972 |
|
Date of Appointment : |
05.01.2005 |
|
DIN No.: |
00522674 |
|
|
|
|
Name : |
Mr. Kunal Rohidas Patil |
|
Designation : |
Director |
|
Address : |
302, Puma Complex, Sir
Pochkhanwala Road, Worli, Mumbai - 400 025, Maharashtra, India |
|
Date of Birth/Age : |
18.09.1974 |
|
Date of Appointment : |
05.01.2005 |
|
DIN No.: |
00522634 |
|
|
|
|
Name : |
Mr. Amit Anil Jagtap |
|
Designation : |
Director |
|
Address : |
C-60, Abhimanshree
Society, Baner Road, Pune - 411 008, Maharashtra, India |
|
Date of Birth/Age : |
03.02.1977 |
|
Date of Appointment : |
30.09.2008 |
|
DIN No.: |
00357982 |
KEY EXECUTIVES
|
Name : |
Mr. Nilesh Patankar |
|
Designation : |
Office Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 25.09.2013)
|
Name of
Shareholders |
|
No of
Shares |
|
Vinay Rohidas Patil |
|
74550 |
|
Kunal Rohidas Patil |
|
49700 |
|
Lata Rohidas Patil |
|
50 |
|
Ruchi Vinay Patil |
|
100 |
|
Smita C. Patil |
|
50 |
|
Samruddha International
Limited, |
|
49500 |
|
Amit Jagtap |
|
50 |
|
Sandesh Vanijya Private Limited,
India |
|
56000 |
|
Aryawart Vincom Private Limited |
|
21500 |
|
Manoj Thakur |
|
71500 |
|
|
|
|
|
Total |
|
323000 |
(AS ON 27.03.2014)
|
Name of Allottee |
|
No of Shares
Allotted |
|
|
|
|
|
Samruddha Resources Limited, India |
|
1700000 |
|
Samruddha International
Limited, |
|
1900000 |
|
|
|
|
|
Total |
|
3600000 |
(AS ON 14.02.2014)
|
Name of Allottee |
|
No of Shares
Allotted |
|
|
|
|
|
Samruddha Resources Limited, India |
|
1630000 |
|
Samruddha International
Limited, |
|
1455000 |
|
|
|
|
|
Total |
|
3085000 |
(AS ON 30.09.2013)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
39.32 |
|
Directors or relatives of directors |
|
38.48 |
|
Other top fifty shareholders |
|
22.20 |
|
|
|
|
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Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of
Coffee, Spices, Food Grains, Sugar, Tobacco Products, Coal,
Agriculture Products, Tea etc. |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
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Bankers : |
v State Bank of
India SME Branch, Shivsagar Estate, Worli
(South), Dr. Annie Besant Road, Mumbai – 400018, Maharashtra, India v Axis Bank
Limited Credit Management Center, Unit – 6,
Corporate Park, Sion Trombay Road, Chembur, Mumbai – 400071, Maharashtra,
India v The Federal Bank
Limited Bombay Samacdhar Marg, , Fort, Mumbai,
Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
M. B. Agrawal and Company Chartered Accountants |
|
Address : |
204, |
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Tel. No.: |
91-22-40298218 |
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Fax No.: |
91-22-24363312 |
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E-Mail : |
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PAN No.: |
AABFM5230D |
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Associates/ Subsidiary
: |
Samruddha Group o Mr. Jagtap – Director Melody Textile
Private Limited Directors: o
Mr. Vijay Rajaram Chavan o Mr. Sachin Shamrao Muthe |
CAPITAL STRUCTURE
(AS ON 25.09.2013)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6896400 |
Equity Shares |
Rs.10/- each |
Rs.68.964 Millions |
|
|
|
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|
(AS ON 25.09.2013)
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
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|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
199000 |
Equity Shares |
Rs.10/- each |
Rs.1.990
Millions |
|
124000 |
Equity Shares |
Rs.1/- each |
Rs.0.124
Million |
|
|
|
|
|
|
|
Total |
|
Rs.2.114
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 |
2.114 |
2.114 |
0.500 |
|
(b) Reserves & Surplus |
9.728 |
13.918 |
0.508 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
7.750 |
|
Total
Shareholders’ Funds (1)+(2) |
11.842 |
16.032 |
8.758 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
384.447 |
219.269 |
7.150 |
|
(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) |
384.447 |
219.269 |
7.150 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
15.558 |
0.000 |
149.460 |
|
(b) Trade
payables |
3.915 |
5.877 |
0.573 |
|
(c) Other
current liabilities |
26.631 |
8.781 |
0.225 |
|
(d) Short-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
46.104 |
14.658 |
150.258 |
|
|
|
|
|
|
TOTAL |
442.393 |
249.959 |
166.166 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
267.177 |
6.843 |
3.744 |
|
(ii)
Intangible Assets |
0.080 |
0.083 |
0.083 |
|
(iii)
Capital work-in-progress |
8.285 |
141.241 |
80.109 |
|
(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) |
1.772 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
128.433 |
60.824 |
27.175 |
|
(e) Other
Non-current assets |
0.274 |
31.085 |
20.148 |
|
Total Non-Current
Assets |
406.021 |
240.076 |
131.259 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
16.848 |
0.000 |
0.000 |
|
(c) Trade
receivables |
0.000 |
0.000 |
0.000 |
|
(d) Cash
and cash equivalents |
4.936 |
1.890 |
2.810 |
|
(e)
Short-term loans and advances |
14.588 |
7.993 |
32.097 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
36.372 |
9.883 |
34.907 |
|
|
|
|
|
|
TOTAL |
442.393 |
249.959 |
166.166 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
0.000 |
0.000 |
0.000 |
|
|
|
Other Income |
1.008 |
0.000 |
0.000 |
|
|
|
TOTAL (A) |
1.008 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
6.200 |
0.000 |
0.000 |
|
|
|
Changes in Inventories of finished goods, Work in progress and stock
in trade |
(7.790) |
0.000 |
0.000 |
|
|
|
Employee Benefits Expenses |
1.278 |
4.052 |
0.805 |
|
|
|
Other Expenses |
2.619 |
3.831 |
1.498 |
|
|
|
Executional Items |
0.055 |
0.000 |
0.000 |
|
|
|
Balance Transfer to pre-operation Expenses |
0.000 |
(7.883) |
(2.303) |
|
|
|
TOTAL (B) |
2.362 |
0.000 |
2.303 |
|
|
|
|
|
|
|
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(1.354) |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1.999 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(3.353) |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2.609 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
(5.962) |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(1.772) |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
(4.190) |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(12.97) |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(415.67) |
0.00 |
0.00 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(1.38) |
0.00 |
0.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.50) |
0.00 |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
33.78 |
13.68 |
17.88 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.79 |
0.67 |
0.23 |
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 |
0.500 |
2.114 |
2.114 |
|
Reserves & Surplus |
0.508 |
13.918 |
9.728 |
|
Share Application money
pending allotment |
7.750 |
0.000 |
0.000 |
|
Net worth |
8.758 |
16.032 |
11.842 |
|
|
|
|
|
|
long-term borrowings |
7.150 |
219.269 |
384.447 |
|
Short term borrowings |
149.460 |
0.000 |
15.558 |
|
Total borrowings |
156.610 |
219.269 |
400.005 |
|
Debt/Equity ratio |
17.882 |
13.677 |
33.779 |
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 |
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 |
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 LOANS
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
|
|
(Rs. In Millions) |
|
|
Long Term
Borrowings |
|
|
|
From Others |
244.006 |
125.696 |
|
|
|
|
|
Total |
244.006 |
125.696 |
BUSINESS
ACTIVITY
The
commercial production of the company has
been set to motion since March 2013.
After completion of Shed, installation of machinery and conducting trial run,
production process is on its
track with optimum production capacity. As of now 1691
meters cloth has been produced which is good enough as per the set target.
FINANCIAL HIGHLIGHT
As
the production process commenced Iately in March 2013, no sales has hen recorded for the year. Though, there is no
sales in the reporting year, the company
has earned 10,08,1,66 as other income, They are hopeful to get overwhelming market response in relation to their
manufactured products and generate satisfactory amount of profit in coming Year.
INDEX OF CHARGES:
|
S.No. |
Charge ID |
Date of Charge Creation/ Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10347818 |
26/03/2012 * |
240,000,000.00 |
STATE BANK OF INDIA |
SME BRANCH, SHIVSAGAR
ESTATE, WORLI (SOUTH), DR. |
B37219409 |
* Date of charge modification
FIXED ASSETS:
o Freehold Land
o Factory Building
o Electrical Installation
o Plant and Machinery
o Furniture Fittings
o Office Equipment
o Vehicles
o Air Conditioner
o Tools and Equipments
o Computers and Peripherals
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market survey
revealed that the amount of compensation sought by the subject is fair and
reasonable and comparable to compensation paid to others for similar services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.05 |
|
|
1 |
Rs.101.32 |
|
Euro |
1 |
Rs.83.43 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NIT |
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 |
3 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
26 |
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.