MIRA INFORM REPORT
|
Report Date : |
10.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
THYSSENKRUPP ELECTRICAL STEEL INDIA PRIVATE LIMITED |
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Registered Office : |
Village Wadivarhe Post, Gondetaluka-Igatpuri, Nashik-422403, |
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Country : |
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Financials (as on) : |
30.09.2013 |
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Date of Incorporation : |
19.07.2000 |
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Com. Reg. No.: |
11-127807 |
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Capital
Investment / Paid-up Capital : |
Rs. 3149.349 Millions |
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CIN No.: [Company
Identification No.] |
U27100MH2000PTC127807 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturing and sale of low carbon cold rolled electrical and mild steel. |
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No. of
Employees: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 14000000 |
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|
Status : |
Moderate |
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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 moderate track record. The rating is constrained on account of company’s moderate financial
risk profile marked by losses incurred from operational activities and low
reserves of the company. However, trade relations are fair. Business is active. Payments are
reported to be slow but correct. The company can be considered for business dealing with some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
|
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 slow 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 India over next 2 years. The firm has chosen India to pilot its
e-commerce business model for the Asia-Pacific region.
Blackstone may buy
stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.
Kingfisher Airlines
Ltd grounded in October 2012 under the weight of heavy debt and accumulated
losses, recently approached the Delhi high court for relief in two separate
cases. The airline challenged a notice by Punjab & National Bank alleging
that It had wilfully defaulted on Rs 7700 mn of loans and sought more time to
comply with the requirements under the listing agreements with the Stock
Exchanges.
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.
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 DECLINED BY
|
Name : |
Mr. Milan Gare |
|
Designation : |
Senior Finance Manager |
|
Contact No.: |
91-2553-225182 |
|
Date : |
06.10.2014 |
LOCATIONS
|
Registered Office / Factory : |
Village Wadivarhe Post, Gondetaluka-Igatpuri, Nashik-422403, |
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Tel. No.: |
91-2553-225182 |
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Fax No.: |
91-2553-225181 |
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E-Mail : |
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Website : |
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Warehouse : |
Located At · Jalandhar · Ballabhgarh · Vadodara · Indore · Hyderabad · Bangalore |
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Sales Offices: |
Located At :
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DIRECTORS
As on 05.08.2014
|
Name : |
Mr. Chandra Shekhar Mathur |
|
Designation : |
Director |
|
Address : |
A-12, Nizamuddin East, |
|
Date of Birth/Age : |
10.02.1951 |
|
Date of Appointment : |
09.09.2000 |
|
DIN No.: |
00003232 |
|
Name : |
Mr. Kesava Iyer Venkatesan |
|
Designation : |
Managing Director |
|
Address : |
Plot No. 41, SSA Ashwin Nagar CIDCO, Nashik-422009, |
|
Date of Birth/Age : |
14.07.1962 |
|
Date of Appointment : |
23.06.2004 |
|
DIN No.: |
00056671 |
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PAN No.: |
ABZPV1074B |
|
Name : |
Mr. Michael Johannes Thiemann |
|
Designation : |
Director |
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Address : |
Flat No. 409, 410, Samudra Mahal Premises, |
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Date of Birth/Age : |
25.08.1946 |
|
Date of Appointment : |
30.11.2007 |
|
DIN No.: |
00061988 |
|
Name : |
Mr. Peter Horst Biele |
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Designation : |
Director |
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Address : |
Zum Baerler Buscm 3 47199 |
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Date of Birth/Age : |
09.12.1956 |
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Date of Appointment : |
26.11.2009 |
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DIN No.: |
02859931 |
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|
|
Name : |
Mr. Heinz Heinrich Pafferath |
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Designation : |
Director |
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Address : |
Herderallee 3 47191 |
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Date of Birth/Age : |
17.01.1949 |
|
Date of Appointment : |
26.11.2009 |
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DIN No.: |
02859965 |
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|
|
Name : |
Mr. Joydeep Bidyut Bhattacharjee |
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Designation : |
Whole-time Director |
|
Address : |
H17, Thakkars Retreat Juna Gagapur Naka Gangapur Road, Nashik –
422005, Maharashtra, India |
|
Date of Birth/Age : |
14.11.1968 |
|
Date of Appointment : |
01.01.2010 |
|
DIN No.: |
02813496 |
|
PAN No.: |
ABTPB2350E |
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|
|
|
Name : |
Mr. Luc Claude Marie Vendeville |
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Designation : |
Director |
|
Address : |
32 Rue Edgar Quinet Bethune 62400, France |
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Date of Birth/Age : |
12.09.1958 |
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Date of Appointment : |
23.11.2010 |
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DIN No.: |
03378972 |
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|
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|
Name : |
Mr. Volker Senger |
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Designation : |
Director |
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Address : |
Flat No. 3, B Wing, Diwani Society, Sai Nagar, Rajmata Hall, RTO
Corner, Dindori Road, Nashik – 422003, Maharashtra, Indai |
|
Date of Birth/Age : |
04.04.1960 |
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Date of Appointment : |
06.06.2013 |
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DIN No.: |
06590940 |
KEY EXECUTIVES
|
Name : |
Mr. Milan Gare |
|
Designation : |
Senior Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 05.08.2014
|
Names of Shareholders |
No. of Shares |
|
ThyssenKrupp Electrical Steel GMBH, Germany |
314934880 |
|
ThyssenKrupp Electrical Steel Verwaltun Sgesellschaft MBH, Germany |
20 |
|
TOTAL
|
314934900 |
Equity Share Break up (Percentage of Total Equity)
As on 05.08.2014
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and sale of low carbon cold rolled
electrical and mild steel. |
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Products : |
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GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
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Bankers : |
Not Divulged |
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Facilities : |
- |
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Banking
Relations : |
--- |
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Auditors : |
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Name : |
B B S R and Company Chartered Accountants |
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Address : |
1st Floor, Lodha Excelus Apollo Mills Compound, N M Joshi Marg ,Mahalaxmi, Mumbai-400011, Maharashtra, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAKFB4397F |
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Holding company: |
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Ultimate Holding
Company: |
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Fellow Subsidiary
company: |
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Other related
party: |
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CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
340000000 |
Equity Shares |
Rs.10/- each |
Rs. 3400.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
314934900 |
Equity Shares |
Rs.10/- each |
Rs. 3149.349
Millions |
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|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
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|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
3149.349 |
3149.349 |
3149.349 |
|
(b) Reserves & Surplus |
340.399 |
933.783 |
1821.521 |
|
(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) |
3489.748 |
4083.132 |
4970.870 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
123.372 |
137.966 |
114.922 |
|
Total
Non-current Liabilities (3) |
123.372 |
137.966 |
114.922 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
882.821 |
827.326 |
|
(b) Trade payables |
190.013 |
274.668 |
1048.529 |
|
(c) Other current liabilities |
128.538 |
140.123 |
217.245 |
|
(d) Short-term provisions |
459.328 |
460.438 |
357.042 |
|
Total
Current Liabilities (4) |
777.879 |
1758.050 |
2450.142 |
|
|
|
|
|
|
TOTAL |
4390.999 |
5979.148 |
7535.934 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1694.027 |
1841.857 |
1296.843 |
|
(ii) Intangible Assets |
0.678 |
0.111 |
0.169 |
|
(iii) Capital work-in-progress |
6.248 |
83.135 |
630.882 |
|
(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) |
24.289 |
25.755 |
54.767 |
|
(d) Long-term Loan and Advances |
140.518 |
184.638 |
108.495 |
|
(e) Other Non-current assets |
1.140 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
1866.900 |
2135.496 |
2091.156 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
1225.439 |
2321.044 |
3691.552 |
|
(c) Trade receivables |
533.739 |
799.531 |
999.068 |
|
(d) Cash and cash equivalents |
241.466 |
114.909 |
2.178 |
|
(e) Short-term loans and
advances |
517.236 |
602.369 |
725.876 |
|
(f) Other current assets |
6.219 |
5.799 |
26.104 |
|
Total
Current Assets |
2524.099 |
3843.652 |
5444.778 |
|
|
|
|
|
|
TOTAL |
4390.999 |
5979.148 |
7535.934 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
4772.000 |
6605.000 |
3691.000 |
|
|
Other Income |
175.000 |
125.000 |
89.000 |
|
|
TOTAL
|
4947.000 |
6730.000 |
3780.000 |
|
|
|
|
|
|
|
Less |
EXPENSES |
5105.000 |
7114.000 |
3823.000 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION |
(158.000) |
(384.000) |
(43.000) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
56.000 |
143.000 |
18.000 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(214.000) |
(527.000) |
(61.000) |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
337.000 |
331.000 |
114.000 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
(551.000) |
(858.000) |
(175.000) |
|
|
|
|
|
|
|
Less |
TAX |
42.000 |
30.000 |
52.000 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
(593.000) |
(888.000) |
(227.000) |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
933.000 |
1821.000 |
2048.000 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
340.000 |
933.000 |
1821.000 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
(1.88) |
(2.82) |
(0.72) |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
(11.99) |
(13.19) |
(6.01) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(11.55) |
(12.99) |
(4.74) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(12.64) |
(14.62) |
(2.55) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.16) |
(0.21) |
(0.04) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.22 |
0.17 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.24 |
2.19 |
2.22 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
3149.349 |
3149.349 |
3149.349 |
|
Reserves & Surplus |
1821.521 |
933.783 |
340.399 |
|
Net
worth |
4970.870 |
4083.132 |
3489.748 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
827.326 |
882.821 |
0.000 |
|
Total
borrowings |
827.326 |
882.821 |
0.000 |
|
Debt/Equity
ratio |
0.166 |
0.216 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
3691.000 |
6605.000 |
4772.000 |
|
|
|
78.949 |
(27.752) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
3691.000 |
6605.000 |
4772.000 |
|
Profit |
(227.000) |
(888.000) |
(593.000) |
|
|
(6.15%) |
(13.44%) |
(12.43%) |
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 |
No |
|
24] |
Banking facility details |
No |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
INDEX
OF CHARGES: NO CHARGES EXIST FOR COMPANY
REVIEW OF OPERATIONS
During the year, the financial performance of the Company has suffered due to slow-down in the Indian economy and the over capacity for their products in the domestic market. The impact of slow-down has affected all kinds of business in general, and particularly their type of steel industry was impacted due to over supply from domestic as well as overseas market. Despite making efforts to cut cost, improve product-mix and timely fulfillment of orders booked, the result for the period was negative. The company made net turnover of Rs.4772.000 Millions and suffered loss before tax Rs. 551.000 Millions as compared to Loss before tax of Rs.858.000 Millions. Last year on a turnover of Rs.6605.000 Millions. Reduction in losses, by 35% is the result of various cost cutting measures and optimization of product portfolio.
STEEL INDUSTRY:
OVERVIEW AND OUTLOOK
The Indian economy has shown resilience compared to other global economies but could not avoid slow down completely that was visible in below 5% GDP growth in 2013-2014, Vis--vis 8% growth achieved during 2007-2011. The decline was across all the sectors due to domestic and external factors, high inflation, wide fiscal deficit and unfavorable domestic savings and investment rate. Despite strong fundamentals and structural support, uncertainty and consequent lack of confidence held back investments in India in the form of capital infusion. The above factors were reflected in the company’s performance last year, despite many efforts taken they could not avoid loss that was mainly on account of lower demand and weakening prices. The company continues to face challenges on account of lower demand, higher cost of credit and excess supplies. Cost cutting measures continue unabated and more steps are being taken to nip breakdowns at initial stages to avoid maintenance costs. Aggressive steps are being taken to bring down the inventory and other working capital requirements.
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
Short-term
borrowings |
|
|
|
Loans repayable on demand from banks |
0.000 |
132.821 |
|
Intercorporate borrowings |
0.000 |
750.000 |
|
Total |
0.000 |
882.821 |
FIXED ASSETS
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipments
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.61.04 |
|
|
1 |
Rs.98.64 |
|
Euro |
1 |
Rs.77.74 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
KVT |
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 |
4 |
|
--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 |
|
27 |
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.