MIRA
INFORM REPORT
|
Report Date : |
16.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
VIRAT SPECIAL STEELS PRIVATE LIMITED |
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Registered
Office : |
Plot No.610, Pace City II, Sector 37 II, Gurgaon – 122001, Haryana, |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
12.06.2007 |
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Com. Reg. No.: |
05-036933 |
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Capital
Investment / Paid-up Capital : |
Rs. 13.910 Million |
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CIN No.: [Company Identification
No.] |
U27310HR2007PTC036933 |
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IEC No.: |
3007017084 |
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PAN No.: [Permanent Account No.] |
AACCV5243P |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader of Alloy and Non Alloy Steel and Others. |
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No. of Employees
: |
37 (Approximately) |
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 95000 |
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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 thin profitability margins 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
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
31-03-2012.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Virat Dhingra |
|
Designation : |
Managing Director |
|
Contact No.: |
91-9814021775 |
|
Date : |
01.09.2014 |
LOCATIONS
|
Registered Office : |
Plot No.610, Pace City II, Sector 37 II, Gurgaon – 122001, Haryana,,
India |
|
Tel. No.: |
91-124-4240036 |
|
Mobile No.: |
91-9814021775 (Mr. Virat Dhingra) |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Administrative
Office / Factory: |
C – 146, Focal Point, Phase – V, Near |
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Tel. No.: |
91-161-5025667/ 668 |
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Fax No.: |
91-161-2672007 |
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E-Mail : |
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Area : |
18000 sq. ft. |
|
Location : |
Owned |
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Regional Office : |
S.No.9, Opposite Sunny Petrol Pump, Near Bedi Properties, NH – 8, Narsingpur,
Gurgaon – 122 001, |
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Tel. No.: |
91-161-5025667/ 668 |
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Mobile No.: |
91-9814021775 (Mr. Virat Dhingra) |
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Fax No.: |
91-161-2672007 |
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E-Mail : |
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Website : |
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Area : |
25000 sq ft |
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Location : |
Owned |
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Ware House : |
Located at: ·
·
Gurgaon ·
Pune ·
Chennai |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Virat Dhingra |
|
Designation : |
Director |
|
Address : |
SCF – 18, Kitchlu Nagar Market, |
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Date of
Birth/Age : |
14.05.1972 |
|
Qualification : |
LLB |
|
Date of
Appointment : |
12.06.2007 |
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DIN No.: |
01448209 |
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|
|
|
Name : |
Ms. Indu Dhingra |
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Designation : |
Director |
|
Address : |
SCF – 18, Kitchlu Nagar Market, |
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Date of
Birth/Age : |
22.10.1975 |
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Qualification : |
BA |
|
Date of
Appointment : |
12.06.2007 |
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DIN No.: |
01448192 |
KEY EXECUTIVES
|
Name : |
Mr. Virat Dhingra |
|
Designation : |
Managing Director |
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|
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 3.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Mr. Virat Dhingra |
|
1306000 |
|
Ms. Indu Dhingra |
|
65000 |
|
Albino Investment Consultants Private Limited, Kolkata, West Bengal,
India |
|
10000 |
|
Welkin Investment Consultants Private Limited, Kolkata, West Bengal,
India |
|
10000 |
|
|
|
|
|
Total |
|
1391000 |
As on 3.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
1.44 |
|
Directors or relatives of Directors |
98.56 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Alloy and Non Alloy Steel and Others. |
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Products : |
·
Die Block/ Die Steel ·
Machinery ·
Ventilator ·
Magnetic Lifter ·
Pallet Truck |
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Exports : |
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Products : |
Steel |
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Countries : |
·
Malaysia ·
Australia |
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Imports : |
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Products : |
Steel |
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Countries : |
·
Germany ·
England |
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Terms : |
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Selling : |
Cash and Credit and L/C |
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Purchasing : |
Cash and Credit and L/C |
GENERAL INFORMATION
|
Suppliers : |
·
Somers Forge Limited , England ·
Dew Edulsar Worke, Germany |
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Customers : |
Wholesalers and End Users ·
Sadhu Forging Limited, Faridabad ·
Blue Stamping Private Limited, Faridabad |
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No. of Employees : |
37 (Approximately) |
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Bankers : |
·
HDFC Bank , Ludhiana, India ·
Standard Charted Bank, 10, Parliament Street, New
Delhi – 110001, Delhi, 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 : |
Asim Atrey and Associates Chartered Accountants |
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Address : |
Office 47-C, Udham Singh Nagar, Ludhiana - 141001, Punjab, India |
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Tel. No.: |
91-161-2302402 |
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Fax No.: |
91-161-2302402 |
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Email : |
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PAN No : |
AACFH3228B |
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CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1800000 |
Equity Shares |
Rs.10/- each |
Rs. 18.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1391000 |
Equity Shares |
Rs.10/- each |
Rs. 13.910
Million |
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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 |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
13.910 |
13.910 |
13.710 |
|
(b) Reserves & Surplus |
9.979 |
8.579 |
2.671 |
|
(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) |
23.889 |
22.489 |
16.381 |
|
|
|
|
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(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
7.795 |
8.334 |
7.768 |
|
(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) |
7.795 |
8.334 |
7.768 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
52.290 |
0.000 |
0.450 |
|
(b) Trade payables |
49.935 |
82.091 |
93.096 |
|
(c) Other current
liabilities |
0.973 |
1.339 |
0.210 |
|
(d) Short-term provisions |
1.188 |
1.191 |
0.972 |
|
Total Current Liabilities (4) |
104.386 |
84.621 |
94.728 |
|
|
|
|
|
|
TOTAL |
136.070 |
115.444 |
118.877 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
12.832 |
11.418 |
11.092 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
2.715 |
1.978 |
0.000 |
|
(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) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.005 |
0.205 |
0.200 |
|
(e) Other Non-current assets |
0.115 |
0.128 |
0.142 |
|
Total Non-Current Assets |
15.667 |
13.729 |
11.434 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
56.805 |
33.448 |
47.596 |
|
(c) Trade receivables |
48.315 |
51.946 |
39.523 |
|
(d) Cash and cash
equivalents |
12.963 |
12.642 |
6.942 |
|
(e) Short-term loans and
advances |
2.320 |
3.679 |
13.382 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
120.403 |
101.715 |
107.443 |
|
|
|
|
|
|
TOTAL |
136.070 |
115.444 |
118.877 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
167.626 |
189.781 |
176.248 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
167.626 |
189.781 |
176.248 |
|
|
|
|
|
|
|
|
Less |
TOTAL EXPENSES |
162.772 |
185.339 |
173.137 |
|
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
4.854 |
4.442 |
3.111 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
2.067 |
1.941 |
0.958 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
2.787 |
2.501 |
2.153 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.768 |
0.547 |
0.548 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
2.019 |
1.954 |
1.605 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.619 |
0.647 |
0.564 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
1.400 |
1.307 |
1.041 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.00 |
0.94 |
0.76 |
|
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
210.000 |
|
|
|
|
|
Expected Sales (2014-15) : Rs. 230.000 Million
The above information has been parted by Mr. Virat Dhingra
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.84 |
0.69 |
0.59 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.20 |
1.03 |
0.91 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.48 |
1.69 |
1.35 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08 |
0.09 |
0.10 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.52 |
0.37 |
0.50 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.15 |
1.20 |
1.13 |
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 |
13.710 |
13.910 |
13.910 |
|
Reserves & Surplus |
2.671 |
8.579 |
9.979 |
|
Net
worth |
16.381 |
22.489 |
23.889 |
|
|
|
|
|
|
long-term borrowings |
7.768 |
8.334 |
7.795 |
|
Short term borrowings |
0.450 |
0.000 |
52.290 |
|
Total
borrowings |
8.218 |
8.334 |
60.085 |
|
Debt/Equity
ratio |
0.502 |
0.371 |
2.515 |
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 |
176.248 |
189.781 |
167.626 |
|
|
|
7.678 |
(11.674) |
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 |
176.248 |
189.781 |
167.626 |
|
Profit |
1.041 |
1.307 |
1.400 |
|
|
0.59% |
0.69% |
0.84% |
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 |
Yes |
|
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 |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
No |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if applicable) |
Yes |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm / promoter involved in |
---------------------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
---------------------- |
|
26] |
Buyer visit details |
---------------------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
note
The registered office address of the company
has been shifted from “S. No. 9, Opposite Sunny Petrol Pump, Near Bedi Properties,Nh-8,Narsingpur,
Gurgaon – 122001, Haryana, India” to the present address w.e.f. 23.07.2010
UNSECURED LOAN
(Rs.
In Millions)
|
|
As
on 31.03.2013 |
As
on 31.03.2012 |
|
LONG TERM
BORROWING |
|
|
|
Long Term Loans |
0.000 |
0.260 |
|
Indu Dhingra |
3.051 |
4.038 |
|
Virat Dhingra Loan |
2.635 |
3.618 |
|
Virat Dhingra HUF |
2.000 |
0.000 |
|
|
|
|
|
Total |
7.686 |
7.916 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10226834 |
31/01/2011 * |
52,500,000.00 |
STANDARD CHARTERED BANK |
10, PARLIAMENT STREET, NEW DELHI, Delhi - 110001, |
B05597588 |
|
2 |
10102555 |
01/05/2008 |
107,500,000.00 |
CENTURION BANK OF PUNJAB LIMITED |
SME DIVISION,112, 3rd FLOOR,, PAKHOWAL ROAD, LUDH |
A38198750 |
* Date of charge modification
PROGRESS OF THE
COMPANY
During the year, the Company achieved the turnover of Rs. 167.626 Millions as against Rs. 189.781 Millions in the previous year. Similarly Profit before taxation reduces from Rs. 1.954 Millions to Rs. 2.019 Millions in the financial year ended on 31.03.2013. Hence profit after tax has also increased from Rs. 1.307 Millions to Rs 1.400 Million during the year.
FIXED ASSETS
· Car
· Building
· Machinery
· Fax Machines
· Computer
· Generator
· Weighing Scale
· Office Equipment
· Motor Cycle
· Electric Equipment
· Land
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.60.54 |
|
|
1 |
Rs.99.72 |
|
Euro |
1 |
Rs.79.54 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
ART |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--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 |
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 |
|
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.