MIRA
INFORM REPORT
|
Report Date : |
13.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
VULKAN TECHNOLOGIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Gat No. 399, Plot No 6, Village Bhare, Pirangut Industrial Area, Taluka
Mulshi, Pune – 412111, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
12.06.2001 |
|
|
|
|
Com. Reg. No.: |
11-016233 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.49.776 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29299PN2001PTC016233 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEV04078E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCV2508E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Castings, Rubber Elements and Lokrings. |
|
|
|
|
No. of Employees
: |
400 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2567000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having good track record. Mr. Amol, Senior Accounts Manager provided general and financial
information (Sales turnover) to us. As per available financials, Fundamentals of the company is decent.
Financial position of the company is strong and healthy. Trade relations reported to be fair. Business is active. Payment terms
are reported to be regular and as per commitment. The company can be considered normal for business dealing at usual
trade terms and conditions. Note: Profit and loss statement for the year 2013 is not available
with government department. |
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 PARTED BY
|
Name : |
Mr. Amol |
|
Designation : |
Senior Accounts Manager |
|
Contact No.: |
91-9850744554 |
|
Date : |
10.05.2014 |
LOCATIONS
|
Registered Office : |
Gat No.399, Gala No 6, Village Bhare, Pirangut Industrial Area, Taluka
Mulshi, Pune – 412111, Maharashtra, India |
|
Tel. No.: |
91-20-66765531 |
|
Mobile No.: |
91-9850744554 (Mr. Amol) |
|
Fax No.: |
91-20-66765551 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
Gat No. 539 - B, Village Kasar Amboli, Urawade Road, Pirangut
Industrial Area, Tal. Mulshi, Pune – 412115, Maharashtra, India |
|
Tel No: |
91-20-66765530 / 32 / 34 |
|
Fax No.: |
91-20-66765551 |
|
E-Mail : |
DIRECTORS
As on: 30.09.2013
|
Name : |
Mr. Rajesh Krishnakumar Mishra |
|
Designation : |
Managing Director |
|
Address : |
A-8,201,Ganga Satelite, Wanowarie, Pune – 411040, Maharashtra, India |
|
Date of Birth/Age : |
01.08.1961 |
|
Date of Appointment : |
27.06.2011 |
|
DIN No: |
00216370 |
|
|
|
|
Name : |
Mr. Prashant Girjashankar Patel |
|
Designation : |
Director |
|
Address : |
A-8,302,Ganga Satelite, Wanowarie, Pune – 411040, Maharashtra, India |
|
Date of Birth/Age : |
12.10.1966 |
|
Date of Appointment : |
31.01.2002 |
|
DIN No: |
00218103 |
|
|
|
|
Name : |
Mr. Bernd Email Hackforth |
|
Designation : |
Director |
|
Address : |
Langester 223, 44627, Herne – 44627, Germany |
|
Date of Birth/Age : |
13.03.1949 |
|
Date of Appointment : |
10.08.2001 |
|
DIN No: |
00242144 |
|
|
|
|
Name : |
Mr. Andreas Boehme |
|
Designation : |
Director |
|
Address : |
Rahden Kleinendorf , IM Westerfeld 18, Rahden Kleinendorf – 32369,
Germany |
|
Date of Birth/Age : |
10.06.1954 |
|
Date of Appointment : |
12.06.2009 |
|
DIN No: |
02616871 |
KEY EXECUTIVES
|
Name : |
Mr. Amol |
|
Designation : |
Senior Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Rajesh Krishnakumar Mishra |
|
5000 |
|
Hackforth GMBH, Germany |
|
4972610 |
|
|
|
|
|
Total |
|
4977610 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2013
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
99.90 |
|
Directors or relatives of directors |
|
0.10 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Castings, Rubber Elements and Lokrings. |
|
|
|
|
Exports : |
|
|
Products : |
Finished Goods |
|
Countries : |
·
Germany ·
Brazil ·
USA |
|
|
|
|
Imports : |
|
|
Products : |
Trading Goods |
|
Countries : |
Germany |
|
|
|
|
Terms : |
|
|
Selling : |
Cash, Credit and LC |
|
|
|
|
Purchasing : |
Cash, Credit and LC |
PRODUCTION STATUS (As on: 31.03.2012)
|
Particulars |
Unit |
Product |
31.03.2012 |
|
|
|
|
|
|
Licensed
Capacity |
Nos. |
Highly Flexible
Coupling |
200,000 / Annum |
|
|
|
Tube connectors |
30,000,000 /
Annum |
|
|
|
|
|
|
Installed
Capacity |
Nos. |
Highly Flexible
Coupling |
200,000 / Annum |
|
|
|
Tube connectors |
30,000,000 /
Annum |
|
|
|
|
|
|
Actual
Production |
Nos. |
Highly Flexible
Coupling Parts |
58,839 |
|
|
|
Tube
connectors/spares |
36,578,090 |
GENERAL INFORMATION
|
Suppliers : |
Jinal Steel Limited |
|||||||||||||||
|
|
|
|||||||||||||||
|
Customers : |
·
Alfa Laval ·
Samsung |
|||||||||||||||
|
|
|
|||||||||||||||
|
No. of Employees : |
400 (Approximately) |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
· Oriental Bank of Commerce, 917- 20/20A, OBC Tower, Third Floor, Fergusson College Road, Pune - 411004, Maharashtra, India · State Bank of India · HDFC Bank Limited · Union Bank of India |
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
(Rs.
In Millions)
Note: Vehicles have been obtained on term loan from HDFC bank on interest ranging from 8% to 11%. The loan term varies between 3 to 4 years with equated monthly payments beginning from the month subsequent to the commencement of loan. Loan is secured against the said vehicles. |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
BBSR and Company Chartered Accountants |
|
Address : |
703, 7th Floor, Godrej
Castlemaine Next to Ruby Hall Clinic, Bund Garden Road, Pune – 411001,
Maharashtra, India |
|
Tel. No.: |
91-20-30504000 |
|
Fax No.: |
91-20-30504100 |
|
PAN No.: |
AAKFB4397F |
|
|
|
|
Ultimate Holding Company : |
Hackforth Holding GmbH and Company KG |
|
|
|
|
Holding Company : |
Hackforth GmbH, Heme |
|
|
|
|
Fellow Subsidiaries : |
·
Vulkan Kupplungs – U Getriebebau GmbH and
Company · American Vulkan Corporation, USA · Vulkan Do Brasil Ltda, Brasillen · Vulkan Italia S r I, Itallen · Wuxi Vulkan Technologies Company Limited ·
Vulkan Strahltechnik GmbH |
CAPITAL STRUCTURE
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4977610 |
Equity Shares |
Rs.10/- each |
Rs.49.776 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 |
49.776 |
49.776 |
49.776 |
|
(b) Reserves & Surplus |
592.196 |
424.673 |
293.991 |
|
(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) |
641.972 |
474.449 |
343.767 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.532 |
1.338 |
0.954 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.171 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
12.169 |
4.492 |
0.000 |
|
Total
Non-current Liabilities (3) |
12.701 |
6.001 |
0.954 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.050 |
|
(b) Trade payables |
61.060 |
61.238 |
44.206 |
|
(c) Other current liabilities |
41.104 |
29.130 |
4.391 |
|
(d) Short-term provisions |
6.241 |
2.307 |
15.197 |
|
Total
Current Liabilities (4) |
108.405 |
92.675 |
63.844 |
|
|
|
|
|
|
TOTAL |
763.078 |
573.125 |
408.565 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
210.923 |
212.218 |
132.898 |
|
(ii) Intangible Assets |
0.929 |
1.044 |
0.000 |
|
(iii) Capital work-in-progress |
29.165 |
0.218 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
42.973 |
|
(c) Deferred tax assets (net) |
5.343 |
0.000 |
1.291 |
|
(d) Long-term Loan and Advances |
14.889 |
7.193 |
5.728 |
|
(e) Other Non-current assets |
2.534 |
2.165 |
0.000 |
|
Total
Non-Current Assets |
263.783 |
222.838 |
182.890 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
195.559 |
86.626 |
0.000 |
|
(b) Inventories |
85.725 |
55.547 |
60.900 |
|
(c) Trade receivables |
72.747 |
104.597 |
75.477 |
|
(d) Cash and cash equivalents |
124.334 |
88.150 |
81.104 |
|
(e) Short-term loans and
advances |
18.691 |
13.385 |
8.194 |
|
(f) Other current assets |
2.239 |
1.982 |
0.000 |
|
Total
Current Assets |
499.295 |
350.287 |
225.675 |
|
|
|
|
|
|
TOTAL |
763.078 |
573.125 |
408.565 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income From Operation |
700.000
(Approximately) |
718.717 |
542.847 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
TOTAL EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
167.523 |
130.682 |
125.945 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
33.66 |
26.25 |
25.30 |
|
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
800.000 |
|
|
|
|
|
The above information has been parted by Mr. Amol
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.61 |
3.78 |
3.53 |
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 |
49.776 |
49.776 |
49.776 |
|
Reserves & Surplus |
293.991 |
424.673 |
592.196 |
|
Net
worth |
343.767 |
474.449 |
641.972 |
|
|
|
|
|
|
long-term borrowings |
0.954 |
1.338 |
0.532 |
|
Short term borrowings |
0.050 |
0.000 |
0.000 |
|
Total
borrowings |
1.004 |
1.338 |
0.532 |
|
Debt/Equity
ratio |
0.003 |
0.003 |
0.001 |
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 four years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
Yes |
|
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 |
-- |
|
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 |
CONTINGENT
LIABILITIES
(a) Claims against Company not acknowledge as debts;
Claims against the Company amounting to Rs 500.000 Millions (31 March 2012- Rs. Nil) not acknowledge as debts represent disputes sub- judiced in the honourable High Court of Calcutta In the opinion of the management the claims are not sustainable and hence not provided in books of account.
(b) Income Tax matters- Rs 0.756 Million (31 March 2012 Rs. Nil)
Note: No Charges Exist for Company
FIXED ASSETS:
Tangible Assets
·
Land
·
Building
·
Plant and Machinery
·
Computers
·
Electrical Incubation
·
Furniture and Fixtures
·
Office Equipments
·
Vehicle
Intangible Assets
· Computer Software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market survey
revealed that the amount of compensation sought by the subject is fair and
reasonable and comparable to compensation paid to others for similar services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.73 |
|
|
1 |
Rs.100.82 |
|
Euro |
1 |
Rs.82.22 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
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 |
|
54 |
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.