MIRA
INFORM REPORT
|
Report Date : |
10.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
PANACHE ALUMINIUM EXTRUSIONS PRIVATE LIMITED |
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Registered
Office : |
Survey No.187, Plot
No.1, Shivaji Nagar Road, Village - Ahire, Taluka – Khandala, District Satara
– 412 802, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
26.08.2009 |
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Com. Reg. No.: |
11-138957 |
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Capital
Investment / Paid-up Capital : |
Rs.43.000 Millions |
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CIN No.: [Company Identification
No.] |
U27101PN2009PTC138957 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in the manufacture of aluminum extrusion profiles
in various alloys. |
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No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (14) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an
established company having a moderate track record. Net worth of the
company has been eroded due to accumulated loss incurred from its operations. However, business
is active. Payments are reported to be slow. The company can
be considered for business dealings on a safe and secured trade terms and
conditions. |
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
|
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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
N E W S
Verdict Implications:
Apex court order may alter coal import dynamics. Traders go slowly on talks
over coal supply contracts, uncertainty over cancellation of blocks weigh on
stocks.
Recent arrest of the
Chennai head of the Registrar of Companies, the ministry of corporate affairs
arm that ensures that companies file all the information required by the
Companies Act is the latest manifestation of a messy fight between a father and
his adopted son for the control of Rs 40000 mn Business Empire. The Central
Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10
lakhs as bribe from M a M Ramaswamy, a CBI official said.
Central Bureau of
Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.
Infosys maintains revenue
guidance. COO Rao says attrition still an area of concern and it would take a
few more quarters to bring down levels to 13-15 %.
DHL to invest Euro
100 mn in
Blackstone may buy
stake in BlueRidge SEZ in line with the fund’s real estate strategy in
Kingfisher Airlines
Ltd grounded in October 2012 under the weight of heavy debt and accumulated
losses, recently approached the
OnMobile likely to
sack another 300 employees. The lay-offs follow a spate of senior-level exits
over the past two years, starting with of its founder. The overall lay-offs
could number around 600 and are driven by the need to cut costs, says a former
employee.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Term Loan = B- |
|
Rating Explanation |
Have high risk of default. |
|
Date |
April, 2013 |
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
31-03-2014.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Akshay Padliya |
|
Designation : |
Director |
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Contact No.: |
91-9820760353 |
|
Date : |
09.10.2014 |
LOCATIONS
|
Registered Office : |
Survey No.187, Plot
No.1, Shivaji Nagar Road, Village - Ahire, Taluka – Khandala, District Satara
– 412 802, Maharashtra, India |
|
Tel. No.: |
91-2169-207172/ 173 91-22-61511900 |
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Mobile No.: |
91-9820760353 (Mr. Akshay Padliya) |
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Fax No.: |
91-2169-207174 |
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E-Mail : |
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Website : |
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Factory : |
Located at Ahire in the Satara, |
DIRECTORS
As on 28.09.2013
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Name : |
Mr. Vipul Rajendrakumar Padliya |
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Designation : |
Director |
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Address : |
94, Matru Mandir, 278, |
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Date of Birth/Age : |
20.10.1976 |
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Date of Appointment : |
26.08.2009 |
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DIN No.: |
00166491 |
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Other Directorship:
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Name : |
Mr. Anil Mohanlal Padliya |
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Designation : |
Director |
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Address : |
94, Matru Mandir, 278, |
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Date of Birth/Age : |
09.07.1957 |
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Date of Appointment : |
26.08.2009 |
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DIN No.: |
00166531 |
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Other Directorship:
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Name : |
Mr. Akshay Padliya |
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Designation : |
Director |
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Address : |
74, Matru Mandir, 278, |
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Date of Birth/Age : |
10.12.1980 |
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Date of Appointment : |
23.09.2010 |
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DIN No.: |
02313266 |
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Other Directorship:
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Name : |
Mr. Rajeshwar Baburam Yadav |
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Designation : |
Director |
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Address : |
Flat No.6, Nilkantha Apartments, |
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Date of Birth/Age : |
11.07.1971 |
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Date of Appointment : |
26.08.2009 |
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DIN No.: |
02490138 |
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Other Directorship:
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Name : |
Mr. Vaibhav Jainedrakumar Padliya |
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Designation : |
Director |
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Address : |
Matru Mandir, 16th Floor, Flat
No.65, |
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Date of Birth/Age : |
18.03.1983 |
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Date of Appointment : |
26.08.2009 |
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DIN No.: |
02491907 |
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Other Directorship:
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Name : |
Mrs. Shabnam Anil Padliya |
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Designation : |
Director |
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Address : |
94, Matru Mandir, 278, |
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Date of Birth/Age : |
10.01.1963 |
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Date of Appointment : |
23.09.2010 |
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DIN No.: |
02809165 |
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Other Directorship:
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MAJOR SHAREHOLDERS
As on 28.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Anil M. Padliya J/W Shabnam A. Padliya |
|
625500 |
|
Vipul R. Padliya J/W Varsha Padliya |
|
754000 |
|
Vaibhav J. Padliya J/W Nimisha Padliya |
|
582000 |
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Rajeshwar Yadav |
|
552000 |
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Akshay R. Padliya J/W Riddhi A. Padliya |
|
753985 |
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Shabnam Padliya and Anila Padliya |
|
500 |
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Panache Metal India Private Limited, |
|
1032000 |
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5 |
|
Bipin Gandhi |
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5 |
|
Kirti Shah |
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5 |
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Total |
|
4300000 |
As on 23.10.2013
|
Names of Allottee |
|
No. of Shares |
|
Panache Metal India Private Limited, |
|
320000 |
|
Total |
|
320000 |
Equity Share Break up (Percentage of Total Equity)
As on 28.09.2013
|
Category |
Percentage |
|
Bodies corporate |
24.00 |
|
Directors or relatives of Directors |
76.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the manufacture of aluminum extrusion profiles
in various alloys. |
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Exports : |
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Countries : |
·
·
US |
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Imports : |
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Products : |
Raw Material |
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Countries : |
·
·
·
·
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GENERAL INFORMATION
|
No. of Employees : |
100 (Approximately) |
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Bankers : |
Dena Bank,
Zaveri Bazar Branch, 262, Ganeshwadi, Mulji Jetha Building, Sheikh Memon
Street, Mumbai – 400 002, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Satish K. Gandhi and Company Chartered Accountants |
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Address : |
F-5, |
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Tel. No.: |
91-22-26613976 |
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Fax No.: |
91-22-26614580 |
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E-Mail : |
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PAN No.: |
AACPG9875F |
CAPITAL STRUCTURE
After 28.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4650000 |
Equity Shares |
Rs.10/- each |
Rs.46.500 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4620000 |
Equity Shares |
Rs.10/- each
|
Rs.46.200
Millions |
As on 28.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4650000 |
Equity Shares |
Rs.10/- each |
Rs.46.500 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4300000 |
Equity Shares |
Rs.10/- each
|
Rs.43.000
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 |
43.000 |
43.000 |
0.100 |
|
(b) Reserves & Surplus |
(73.472) |
(33.617) |
(4.650) |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
(30.472) |
9.383 |
(4.550) |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
311.395 |
200.495 |
158.371 |
|
(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) |
311.395 |
200.495 |
158.371 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
81.106 |
83.919 |
0.000 |
|
(b) Trade payables |
76.135 |
18.025 |
2.762 |
|
(c) Other current
liabilities |
7.173 |
19.436 |
1.597 |
|
(d) Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Current Liabilities (4) |
164.414 |
121.380 |
4.359 |
|
|
|
|
|
|
TOTAL |
445.337 |
331.258 |
158.180 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
210.338 |
173.125 |
17.388 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
46.379 |
112.350 |
|
(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) |
32.855 |
15.033 |
0.184 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
243.193 |
234.537 |
129.922 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
33.702 |
48.749 |
0.000 |
|
(c) Trade receivables |
118.958 |
5.041 |
0.000 |
|
(d) Cash and cash
equivalents |
1.041 |
0.942 |
0.358 |
|
(e) Short-term loans and
advances |
16.752 |
18.381 |
4.422 |
|
(f) Other current assets |
31.691 |
23.608 |
23.478 |
|
Total Current Assets |
202.144 |
96.721 |
28.258 |
|
|
|
|
|
|
TOTAL |
445.337 |
331.258 |
158.180 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
||
|
|
SALES |
|
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||
|
|
|
Income |
|
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
|
TOTAL |
459.098 |
163.150 |
0.005 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
493.529 |
191.222 |
3.826 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
(34.431) |
(28.072) |
(3.821) |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/
AMORTISATION |
23.247 |
15.743 |
0.183 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX |
(57.678) |
(43.815) |
(4.004) |
||
|
|
|
|
|
|
||
|
Less |
TAX |
(17.823) |
(14.848) |
(0.189) |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS) AFTER
TAX |
(39.855) |
(28.967) |
(3.820) |
||
|
|
|
|
|
|
||
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(33.617) |
(4.650) |
(0.830) |
||
|
|
|
|
|
|
||
|
|
BALANCE CARRIED
TO THE B/S |
(73.472) |
(33.617) |
(4.650) |
||
|
|
|
|
|
|
||
|
|
IMPORTS |
|
|
|
||
|
|
|
Purchases |
114.019 |
113.411 |
0.000 |
|
|
|
TOTAL IMPORTS |
114.019 |
113.411 |
0.000 |
||
|
|
|
|
|
|
||
|
|
Earnings /
(Loss) Per Share (Rs.) |
(9.27) |
(6.74) |
NA |
||
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(8.68)
|
(17.75)
|
(76400.00)
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(13.98)
|
(16.24)
|
(8.77)
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
1.89
|
(4.67)
|
0.88
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
(12.88)
|
30.31 |
(34.81) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.23
|
0.80 |
6.48 |
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 |
0.100 |
43.000 |
43.000 |
|
Reserves & Surplus |
(4.650) |
(33.617) |
(73.472) |
|
Net
worth |
(4.550) |
9.383 |
(30.472) |
|
|
|
|
|
|
long-term borrowings |
158.371 |
200.495 |
311.395 |
|
Short term borrowings |
0.000 |
83.919 |
81.106 |
|
Total
borrowings |
158.371 |
284.414 |
392.501 |
|
Debt/Equity
ratio |
(34.807) |
30.312 |
(12.881) |
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 |
0.005 |
163.150 |
459.098 |
|
|
|
3,262,900.000 |
181.396 |
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
|
0.005 |
163.150 |
459.098 |
|
Profit |
(3.820) |
(28.967) |
(39.855) |
|
|
(76400.00%) |
(17.75%) |
(8.68%) |
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
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----------- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
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 |
Note: The registered
office of the company has been shifted from 356, J.S.S. Road,
Next to Thakurdwar Post Office, Murlidhar Compound, Mumbai – 400 002,
Maharashtra to the present address w.e.f. 18.02.2011.
UNSECURED LOANS:
|
Particulars |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
LONG TERM BORROWINGS |
|
|
|
From Others |
|
|
|
Directors,
Shareholder and Others |
10.410 |
13.410 |
|
From Companies |
180.235 |
42.935 |
|
Total |
190.645 |
56.345 |
OPERATIONS:
During the year,
the Company did earned loss of Rs.34.431 millions as against loss of Rs.28.072
millions in the previous year. After providing for depreciation of Rs.23.247 millions
the Company had loss of Rs.57.678 millions as compared the loss of Rs.43.815
millions during the previous year.
CONTINGENT LIABILITY:
|
Particulars |
31.03.2013 (Rs. in Millions) |
31.03.2012 (Rs. in Millions) |
|
Bank Guarantee – Performance
Guarantee |
3.673 |
3.673 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10237602 |
26/10/2013 * |
249,000,000.00 |
Dena Bank |
Zaveri Bazar
Branch, 262, Ganeshwadi, Mulji Jetha
Building, Sheikh Memon Street, Mumbai, Maharashtra |
B89797351 |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
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.61.46 |
|
|
1 |
Rs.96.69 |
|
Euro |
1 |
Rs.77.65 |
INFORMATION DETAILS
|
Information Gathered
by : |
GYT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
14 |
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.