MIRA INFORM REPORT
|
Report Date : |
03.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
EFKON INDIA PRIVATE LIMITED (w.e.f 05.10.2007) |
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Formerly Known
As : |
EFKON INDIA LIMITED (w.e.f 04.12.2006) ITS CLEARING HOUSE ( |
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Registered
Office : |
Om Sadan, Ground Floor, Mehra Industrial Estate, Lal Bahadur Shastri
Marg, Vikhroli (West), Mumbai – 400079, |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
10.07.2001 |
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Com. Reg. No.: |
11-132670 |
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Capital
Investment / Paid-up Capital : |
Rs. 52.681 Millions |
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CIN No.: [Company Identification
No.] |
U72900MH2001PTC132670 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMI04411B |
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PAN No.: [Permanent Account No.] |
AAACI9818F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Service Provider of Software Solutions, Builders Developers and
Turnkey Consultancy. |
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No. of Employees
: |
75 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (12) |
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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 : |
Exist |
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Comments : |
Subject is an established company having moderate track record. The company has incurred huge accumulated losses which has eroded networth
of the company. Liquidity position of the company in under pressure. Business is active. Payment terms are slow. The company can be considered for business dealings on 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) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
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
As per the latest IMF study, the total weigh of emerging markets in the
GDP of the world on a purchasing power parity basis has seen a sizeable shift.
It highlights how as against 51 % in 2005, the emerging economies now account
for close to 56 % of the global purchasing power GDP as per the latest survey.
And with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the their share goes up further
in the coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The
prospects of the India’s economy have been seriously compromised due to
political corruption. High inflation, poor standard of living are to a great
extent a result of rampant corruption in the country. China on the other hand,
seems to be facing diametrically opposite challenge. American hedge fund manager
Jim Chanos has been keenly following the political and economic development in
the dragon economy and has figured out something that is quite worrying. He is
of the view that the Chinese economy could be heading toward trouble on account
of new Chinese President Xi Jingping’s very aggressive anti-corruption drive.
Chanos believes tat many things such as apartment sales, luxury products, etc.
were largely bought with dirty money. And it is now beginning to impact
consumption. This may indeed be bad news for an economy that is struggling to
transition from an investment-driven export-oriented economy to a domestic
consumption-driven economy.
A study published by Firstpost has revealed that asset classes like real
estate and equities were the biggest beneficiaries of the liberalization
policies. A firm called Ciane Analytics studied returns from assets
including equities, gold, fixed deposits, G-Secs and real estate since 1991.
Real estate outperformed every other asset classes during the 23-year period
with an annualized return of 20 % ! Equities came in second with annualized
return of 15.5 % ! However, while these returns may seem mouthwatering, the
fact is that the return from equities adjusted for inflation came down to just
7.1 %.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
. India seeks MFN status from Pakistan ahead of meeting
. Ukrain’s clashes with rebels hinder MH17 crash investigation
. India exploring merger of state-owned hydro PSUs
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs 10000 mn.
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
|
Name : |
Mr. Ghodke |
|
Designation : |
Receptionest |
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Contact No.: |
91-22-42949494 |
|
Date : |
01.09.2014 |
LOCATIONS
|
Registered Office/ Factory : |
Om Sadan, Ground Floor, Mehra Industrial Estate, Lal Bahadur Shastri
Marg, Vikhroli (West), Mumbai – 400079, Maharashtra, India |
|
Tel. No.: |
91-22-67148200 |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
http://www.efkonindia.com |
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Location : |
Owned |
DIRECTORS
As on: 24.09.2013
|
Name : |
Norbert Hofmann |
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Designation : |
Director |
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Address : |
Dietrich Keller, Strasse 20, A-8074 Raaba, |
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Date of Birth/Age : |
10.11.1964 |
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Date of Appointment : |
03.01.2012 |
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DIN No.: |
05162341 |
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Name : |
Mr. Rajat Kumar Mishra |
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Designation : |
Director |
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Address : |
705, L- 2, Ward No.- 6, Meherauli, New Delhi – 110030, India |
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Date of Birth/Age : |
07.12.1967 |
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Date of Appointment : |
03.04.2013 |
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DIN No.: |
03199515 |
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Name : |
Mr. Robert Monsberger |
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Designation : |
Director |
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Address : |
Hauptstrasse 61 A, 3400 Weidling, Austria |
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Date of Birth/Age : |
24.08.1970 |
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Date of Appointment : |
28.08.2013 |
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DIN No.: |
06672974 |
KEY EXECUTIVES
|
Name : |
Mr. Ravi Bhushan Dashore |
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Designation : |
Company Secretary |
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Address : |
301, Sai Prasad One, Sector 19, Koparkhairane, Navi
Mumbai, Maharashtra, India |
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Date of Birth/Age : |
18.11.1980 |
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Date of Appointment : |
03.05.2013 |
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PAN No.: |
ALDPD7565P |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 24.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Efkon AG |
|
5846586 |
|
Efkon Germany Gmbh |
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1 |
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Total |
|
5846587 |
Equity Share Break up (Percentage of Total Equity)
As on: 24.09.2013
|
Category |
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Percentage |
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Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
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Total
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|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Service Provider of Software Solutions, Builders Developers and
Turnkey Consultancy. |
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Terms : |
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Selling : |
L/C Cash Credit |
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Purchasing : |
L/C Cash Credit |
GENERAL INFORMATION
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No. of Employees : |
75 (Approximately) |
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Bankers : |
Kotak Mahindra Bank Limited, 36-38A, Nariman Bhavan, 227, D, Nariman Point, Mumbai - 400021, Maharashtra, India |
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Sharp and Tannan Chartered Accountant |
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Address : |
Ravindra Annexe, 194, Churchgate Reclamation, |
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PAN No.: |
AAAFS2967E |
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Holding company: |
· Efkon AG |
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Ultimate Holding
company: |
· Strabag AG |
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Subsidiary company: |
· I-PAY Clearing Services Private Limited |
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Fellow Subsidiary company: |
· Tollink S.A · Efkon Malaysia · Efkon AG NHAI Project Office · iFleet Solutions and Services Private Limited |
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Joint venture : |
· Intolligent Toll Road Management Private Limited |
CAPITAL STRUCTURE
After:
Authorised Capital : Rs. 130.000 Millions
Issued, Subscribed & Paid-up Capital : Rs. 75.431
Millions
As on: 24.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8000000 |
Equity Shares |
Rs.10/- each |
Rs. 80.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
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|
5846587 |
Equity Shares |
Rs.10/- each |
Rs. 58.466
Millions |
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As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
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|
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|
13000000 |
Equity Shares |
Rs.10/- each |
Rs. 130.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
52681830 |
Equity Shares |
Rs.10/- each |
Rs. 52.681
Millions |
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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 |
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|
(1)Shareholders' Funds |
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|
|
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(a) Share Capital |
52.681 |
52.681 |
52.681 |
|
(b) Reserves & Surplus |
(217.115) |
(56.342) |
32.784 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
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(2)
Share Application money pending allotment |
68.480 |
0.000 |
0.000 |
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Total Shareholders’ Funds (1) + (2) |
(95.954) |
(3.661) |
85.465 |
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(3) Non-Current
Liabilities |
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|
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|
(a) long-term
borrowings |
187.278 |
198.112 |
145.352 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long
term liabilities |
0.340 |
1.587 |
0.340 |
|
(d) long-term
provisions |
1.497 |
1.543 |
0.000 |
|
Total Non-current
Liabilities (3) |
189.115 |
201.242 |
145.692 |
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(4) Current Liabilities |
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(a) Short
term borrowings |
391.709 |
232.671 |
34.595 |
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(b)
Trade payables |
391.241 |
462.533 |
247.559 |
|
(c)
Other current liabilities |
130.421 |
200.881 |
144.178 |
|
(d) Short-term
provisions |
14.026 |
11.716 |
15.543 |
|
Total Current
Liabilities (4) |
927.397 |
907.801 |
441.875 |
|
|
|
|
|
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TOTAL |
1020.558 |
1105.382 |
673.032 |
|
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|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
14.525 |
19.197 |
23.272 |
|
(ii) Intangible
Assets |
83.926 |
79.967 |
104.055 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under development |
83.377 |
64.168 |
46.126 |
|
(b) Non-current
Investments |
14.850 |
14.850 |
14.908 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
9.740 |
9.710 |
9.042 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
206.418 |
187.892 |
197.403 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
59.850 |
66.320 |
33.282 |
|
(c)
Trade receivables |
439.687 |
467.148 |
208.271 |
|
(d) Cash
and cash equivalents |
5.336 |
22.188 |
15.632 |
|
(e)
Short-term loans and advances |
309.128 |
358.093 |
214.857 |
|
(f)
Other current assets |
0.139 |
3.741 |
3.587 |
|
Total
Current Assets |
814.140 |
917.490 |
475.629 |
|
|
|
|
|
|
TOTAL |
1020.558 |
1105.382 |
673.032 |
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
|
|
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|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
498.100 |
661.300 |
426.800 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
577.100 |
717.100 |
456.200 |
|
|
|
|
|
|
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|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(79.000) |
(55.800) |
(29.400) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION |
35.100 |
33.300 |
(82.700) |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(114.100) |
(89.100) |
53.300 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(21.68) |
(16.92) |
(10.12) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PBT/Sales) |
(%) |
(22.91) |
(13.47) |
12.49 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(12.37) |
(8.68) |
8.71 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
1.19 |
24.34 |
0.62 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
(6.03) |
(117.67) |
2.11 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.88 |
1.01 |
1.08 |
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 |
52.681 |
52.681 |
52.681 |
|
Reserves & Surplus |
32.784 |
(56.342) |
(217.115) |
|
Share Application money
pending allotment |
0.000 |
0.000 |
68.480 |
|
Net worth |
85.465 |
(3.661) |
(95.954) |
|
|
|
|
|
|
long-term borrowings |
145.352 |
198.112 |
187.278 |
|
Short term borrowings |
34.595 |
232.671 |
391.709 |
|
Total borrowings |
179.947 |
430.783 |
578.987 |
|
Debt/Equity ratio |
2.106 |
(117.668) |
(6.034) |
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) |
|
Total Income |
426.800 |
661.300 |
498.100 |
|
|
|
54.944 |
(24.679) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Total Income |
426.800 |
661.300 |
498.100 |
|
PBT |
53.300 |
(89.100) |
(114.100) |
|
|
12.49% |
(13.47)% |
(22.91)% |
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 |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
Yes |
|
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 LOAN
(Rs.
In Millions)
|
Particulars |
As on 31.03.2013 |
As on 31.03.2012 |
|
LONG TERM
BORROWINGS |
|
|
|
Intercorporate borrowings |
115.126 |
98.898 |
|
Deferred payment liabilities |
54.490 |
54.490 |
|
|
|
|
|
SHORT TERM
BORROWINGS |
|
|
|
Loans repayable on demand from others |
49.111 |
76.033 |
|
|
|
|
|
Total |
218.727 |
229.421 |
LITIGATION DETAILS:
HIGH
COURT OF BOMBAY
|
Bench:- Bombay |
|||||
|
Presentation Date:- 02/05/2014 |
|||||
|
Lodging No:- |
CPL/298/2014 |
Filing Date:- |
02/05/2014 |
||
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|
|||||
|
Petitioner:- |
MANNER AND SKILL INTERNATIONAL PRIVATE |
Respondent:- |
EFKON INDIA PRIVATE LIMITED |
||
|
Petn. Adv.: |
BHUSHAN V MAHADIK (I2944) |
|
|
||
|
District:- |
MUMBAI |
||||
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|
|||||
|
Bench:- |
SINGLE |
||||
|
Status:- |
Pre-Admission |
Category:- |
COMPANY PETITION U/SEC 433,434,439 COMPANIES ACT |
||
|
Last Date: |
09/05/2014 |
Stage: |
|
||
|
Last Coram: |
REGISTRAR (OS)/ PROTHONOTARY AND SR. MASTER |
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||
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|
|||||
|
Act:- |
Companies Act and Rules 1956 |
Under Section:- |
433, 434 and 439 |
||
OPERATIONS:
During the year, total income decreased from Rs. 661.300 millions in 2011-12 to Rs. 498.100 millions in 2012-13. During this period, the company initiated various activities for strengthening its organization structure and to scale-up its project/software delivery capabilities.
NOTE:
The Registered office of the company has been shifted from 701, Seventh
Floor, B-Wing, HCC 247 Park, Vikhroli (West), Mumbai – 400083, Maharashtra,
India to the present address w.e.f 01.01.2014.
FIXED ASSETS:
· Software
· Technical know how
· Leasehold improvements
· Office equipment’s
· Computers
· Furniture and fixtures
· Motor vehicle
· Plant and machinery
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 records 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] on Violation of Anti-Corruption
Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 60.61 |
|
|
1 |
Rs. 100.49 |
|
Euro |
1 |
Rs. 79.56 |
INFORMATION DETAILS
|
Information Gathered
by : |
DPA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
DPH |
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 |
- |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
- |
|
--CREDIT LINES |
1~10 |
- |
|
--MARGINS |
-5~5 |
|
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
12 |
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.