MIRA
INFORM REPORT
|
Report Date : |
19.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
MATHESON K- AIR INDIA PRIVATE LIMITED (w.e.f. 21.06.2010) |
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Formerly Known
As : |
K-AIR GASES INDIA PRIVATE LIMITED |
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Registered
Office : |
Gat No. 245,6,7,9 Kharabwadi, Chakan Talegaon Road, Chakan, Pune – 410501, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
05.11.2009 |
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Com. Reg. No.: |
25-134922 |
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Capital
Investment / Paid-up Capital : |
Rs.160.176 Millions |
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CIN No.: [Company Identification
No.] |
U40200PN2009PTC134922 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
PNEK09278D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Supplier of Gases, Bulk Cryogenic Liquid. |
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No. of Employees
: |
200 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 1867000 |
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Status : |
Satisfactory |
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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 satisfactory track record. Financial position of the company is decent. Trade relations are reported to be fair. Business is active. Payments
are reported to be slow but correct. The company can be considered for business dealing at usual trade
terms and conditions. NOTE: Profit and Loss
statement for the year 2013 is not available from 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 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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. Aman Shaikh |
|
Designation : |
Senior Manager |
|
Contact No.: |
91-2135-667750 |
|
Date : |
14.05.2014 |
LOCATIONS
|
Registered Office / Factory : |
Gat No. 245,6,7,9 Kharabwadi, Chakan Talegaon Road,
Chakan, Pune – 410501, Maharashtra, India |
|
Tel. No.: |
91-2135-667700 / 667750 |
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Mobile No.: |
91-9225608606 (Mr. Aman Shaikh) |
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Fax No.: |
91-2135-667711 |
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E-Mail : |
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Website : |
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Location : |
Owned |
DIRECTORS
As on 27.09.2013
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Name : |
Mr. Kiran Indrabhan Karnawat |
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Designation : |
Director |
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Address : |
Flat No 6, Woodside Villa, Anand Park, Aundh, Pune, 411007,
Maharashtra, India |
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Date of Birth/Age : |
27.05.1971 |
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Date of Appointment : |
11.03.2010 |
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DIN No.: |
00789468 |
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Other Directorship :
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Name : |
Mr. Deepak Indrabhan Karnawat |
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Designation : |
Director |
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Address : |
3712 Nandanvan Apartment, Burudgaon Road, Ahmednagar, 414001,
Maharashtra, India |
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Date of Birth/Age : |
12.09.1965 |
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Date of Appointment : |
05.11.2009 |
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DIN No.: |
02350146 |
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Other Directorship :
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Name : |
Jose Rui Souto Machado |
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Designation : |
Director |
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Address : |
6522 Korematsu CT, San Jose Ca, San Jose, 95120, United States Of America |
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Date of Birth/Age : |
28.09.1952 |
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Date of Appointment : |
30.09.2010 |
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DIN No.: |
02927597 |
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Other Directorship :
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Name : |
Mr. John Crouch Bigham IV |
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Designation : |
Director |
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Address : |
112 Center Ave, Chatham, Nj, 079282643, United States Of America |
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Date of Birth/Age : |
10.05.1973 |
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Date of Appointment : |
30.09.2010 |
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DIN No.: |
02927668 |
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Other Directorship :
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Name : |
Mr. Kevin Johannes Finn |
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Designation : |
Additional Director |
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Address : |
290, alameda De Las Pungs, Atherton – 94027, California |
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Date of Birth/Age : |
10.05.1968 |
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Date of Appointment : |
15.05.2013 |
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DIN No.: |
06575330 |
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KEY EXECUTIVES
|
Name : |
Mr. Aman Shaikh |
|
Designation : |
Senior Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 27.09.2013
|
Names of Equity Shareholders |
No. of Shares |
|
Kiran Indrabhan Karnawat |
4763 |
|
Deepak Indrabhan Karnawat |
3175 |
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Matheson Tri-Gas Inc., United States of America. |
8262 |
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TOTAL
|
16200 |
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Names of Preferences Shareholders |
No. of Shares |
|
Kiran Indrabhan Karnawat |
412 |
|
Deepak Indrabhan Karnawat |
274 |
|
Matheson Tri-Gas Inc., United States of America. |
16000714 |
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|
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TOTAL
|
16001400 |
As on 27.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
51.00 |
|
Directors or relatives of Directors |
49.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Supplier of Gases, Bulk Cryogenic Liquid. |
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Products : |
·
Special Gases and Helium ·
Industrial Gases ·
Bulk Cryogenic Liquid ·
Equipments |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
·
Sharjah ·
Pakistan |
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Imports : |
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Products : |
Raw Material |
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Countries : |
USA Japan |
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Terms : |
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Selling : |
L/C and Credit |
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Purchasing : |
L/C and Credit |
GENERAL INFORMATION
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Customers : |
End Users |
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No. of Employees : |
200 (Approximately) |
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Bankers : |
·
State Bank of India, 1548/A, Commercial Brach,
Sadashiv Peth, Tilak Road, Pune -
411030, Maharashtra, India ·
Mizuho Corporate Bank Limited |
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Facilities : |
NOTE: LONG TERM
BORROWINGS Details of
repayment of Term Loans
1. Commercial vehicle Loans obtained against first charge on commercial vehicles used for procurement and distribution of gases. 2. Term Loan is covered by letter of Guarantee of M/s. Matheson Tri-Gas Inc., USA (MTG) with an obligation support charge of 0.2% per year against the outstanding balances. Similarly MTG has obtained reimbursement agreement from Indian Partners for the 49% of their share. SHORT TERM BORROWINGS Short term loan is covered is covered by letter of guarantee of M/s. Matheson Tri-Gas Inc., USA (MTG) with an obligation support charge of 0.2% per year against the outstanding balance. Similarly MTG has obtained reimbursement agreement from Indian partners for the 49% of their share. |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Kirtane and Pandit Chartered Accountants |
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Address : |
Sangati 73/2/2 Bhakti Marg, IFF Law College Road, Pune – 411004,
Maharashtra, India |
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Tel No.: |
91-20-67295100 / 25433104 / 25438764 |
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Fax No.: |
91-20-25447603 |
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Email : |
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Website : |
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PAN No.: |
AACFK3469M |
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Enterprises over which key management personnel are able to exercise
significant influence. : |
·
K-Air Specialty Gases Private Limited ·
Tri Gases Private Limited ·
Matheson Tri-Gas Inc., USA ·
Tri Nippon Sanso Corporation |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1995000 |
Equity Shares |
Rs.10/- each |
Rs.19.950 Millions |
|
16005000 |
Preference Shares |
Rs.10/- each |
Rs.160.050 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.180.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
16200 |
Equity Shares |
Rs.10/- each |
Rs.0.162 Million |
|
16001400 |
Preference Shares |
Rs.10/- each |
Rs.160.014 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.160.176
Millions |
After 27.09.2013
Authorised Capital :
Rs.180.000 Millions
Issued, Subscribed & Paid-up Capital : Rs. 0.176 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 |
160.176 |
0.176 |
0.162 |
|
(b) Reserves & Surplus |
306.628 |
187.846 |
174.859 |
|
(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) |
466.804 |
188.022 |
175.021 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
73.729 |
102.368 |
57.327 |
|
(b) Deferred tax liabilities (Net) |
3.210 |
0.000 |
6.666 |
|
(c) Other long term liabilities |
25.367 |
10.379 |
9.884 |
|
(d) long-term provisions |
1.490 |
2.419 |
1.388 |
|
Total Non-current Liabilities (3) |
103.796 |
115.166 |
75.265 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
655.592 |
173.648 |
68.310 |
|
(b) Trade payables |
50.184 |
77.373 |
38.873 |
|
(c) Other current
liabilities |
128.402 |
44.198 |
46.857 |
|
(d) Short-term provisions |
49.196 |
0.253 |
0.305 |
|
Total Current Liabilities (4) |
883.374 |
295.472 |
154.345 |
|
|
|
|
|
|
TOTAL |
1453.974 |
598.660 |
404.631 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
328.159 |
236.812 |
156.114 |
|
(ii) Intangible Assets |
37.194 |
55.208 |
65.468 |
|
(iii) Capital
work-in-progress |
705.891 |
45.532 |
0.585 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
68.327 |
6.502 |
6.502 |
|
(c) Deferred tax assets (net) |
0.000 |
15.339 |
0.000 |
|
(d) Long-term Loan and Advances |
97.092 |
37.216 |
32.277 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
1236.663 |
396.609 |
260.946 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
19.295 |
21.495 |
16.907 |
|
(c) Trade receivables |
144.778 |
110.951 |
108.003 |
|
(d) Cash and cash
equivalents |
6.853 |
44.472 |
5.156 |
|
(e) Short-term loans and
advances |
12.798 |
12.822 |
11.910 |
|
(f) Other current assets |
33.587 |
12.311 |
1.709 |
|
Total Current Assets |
217.311 |
202.051 |
143.685 |
|
|
|
|
|
|
TOTAL |
1453.974 |
598.660 |
404.631 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
497.734 |
407.027 |
|
|
|
Other Income |
|
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
|
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
|
NA |
NA |
|
|
|
|
NA |
|
|
|
|
Less |
TAX |
|
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
|
5.569 |
2.593 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
5.569 |
2.593 |
|
|
|
|
|
|
|
|
|
|
EXPORT VALUE |
NA |
23.681 |
39.598 |
|
|
|
|
|
|
|
|
|
|
IMPORTS VALUE |
|
167.431 |
100.685 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
343.76 |
160.08 |
|
|
Particulars |
|
|
31.03.2013 |
|
|
|
|
|
|
Sales Turnover (Approximately) |
|
|
810.000 |
|
|
|
|
|
The above information has been parted by Mr. Aman Shaikh.
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.56 |
1.47 |
0.72 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.25 |
0.68 |
0.93 |
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 |
0.162 |
0.176 |
160.176 |
|
Reserves & Surplus |
174.859 |
187.846 |
306.628 |
|
Net
worth |
175.021 |
188.022 |
466.804 |
|
|
|
|
|
|
long-term borrowings |
57.327 |
102.368 |
73.729 |
|
Short term borrowings |
68.310 |
173.648 |
655.592 |
|
Total
borrowings |
125.637 |
276.016 |
729.321 |
|
Debt/Equity
ratio |
0.718 |
1.468 |
1.562 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
two 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 |
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 |
UNSECURED LOANS
|
SECURED LOANS |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Commercial vehicle Loans |
6.562 |
9.201 |
|
|
|
|
|
Total |
6.562 |
9.201 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification
|
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10286037 |
31/03/2011 |
280,000,000.00 |
State Bank of India |
1548 A, Commercial Branch, Sadashiv Peth, Tilak Road, Pune, Maharashtra
- 411030, INDIA |
B12559431 |
BACKGROUND
Subject is a company incorporated under the companies Act, 1956 under registration No. U40200PN2009PTC134922 dated 05.11.2009. Subject is one of the emerging supplier of specialty and Industrial gases, has created its position in position in niche market segment owing to wide portfolio of gases and services to its customers.
Matheson K-Air activities are majorly focused on distribution of specialty Gases, pure gases, specialty gases, specialty gases of ultra-purity upto 6.0 grades, Electronic and Research grades, calibration standards, and hydrocarbons, liquid blends, semiconductor, grades. Matheson K-Air has successfully been catering to myriad industries such as refineries, pharmaceuticals, research, engineering, metal fabrication steel products, automobile, etc.
Supply of bulk cryogenic liquids, vide large fleet of ISO tanks, liquid argon, liquid CO2, to various customers in Indian subcontinent and Middle East.
FIXED ASSETS
·
Leasehold Property
·
Building
·
Plant and Machinery
·
Cylinders
·
Electro Installation and
Fittings
·
Furniture and Fixtures
·
Office Equipments
·
Computer
·
Motor Vehicles
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.58.86 |
|
|
1 |
Rs.98.82 |
|
Euro |
1 |
Rs.80.72 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
42 |
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.