MIRA
INFORM REPORT
|
Report Date : |
30.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
INDUSTRIAL BOILERS LIMITED |
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Registered
Office : |
701-C, |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
20.08.1997 |
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Com. Reg. No.: |
11-110202 |
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Capital
Investment / Paid-up Capital : |
Rs. 24.507 Millions |
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CIN No.: [Company Identification
No.] |
U28131MH1997PLC110202 |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer and Design of Steam Boilers |
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No. of Employees
: |
350 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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|
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. The ratings reflect the extensive industry experience of IBL’s promoters,
and its above – average financial risk profile, marked by fair profitability
levels and comfortable capital structure. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered for business dealings at usual trade
terms and condition. |
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 |
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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 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating = BB |
|
Rating Explanation |
Inadequate credit quality and high credit risk |
|
Date |
26.05.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating = A4+ |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
26.05.2014 |
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. Pravin Patel |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-260-2432899 |
|
Date : |
26.09.2014 |
LOCATIONS
|
Registered Office : |
701-C, Poonam Chambers Dr. Annie Besant Road, Worli, Mumbai – 400 018,
Maharashtra, India |
|
Tel. No.: |
91-22-66602236 / 66607738 |
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Fax No.: |
91-22-24937505 |
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E-Mail : |
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Website : |
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Area : |
1350 sq. ft. |
|
Location : |
Owned |
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Corporate Office/ Factory : |
227-228, Vapi Industrial Township, G.I.D.C., Vapi – 396195, Gujarat,
India |
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Tel. No.: |
91-260-2432899 / 2431549 |
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Fax No.: |
91-260-2421102 |
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E-Mail : |
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Area : |
32500 sq. m. |
|
Location : |
Owned |
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Regional Office: |
79-80, Satkar, Nehru Place, New Delhi – 110019, India |
|
Tel. No.: |
91-11-26453194 / 26417983 |
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Fax No.: |
91-11-26453197 |
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E-Mail : |
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National Network: |
Located at: ·
Kolkata ·
Chennai ·
Hyderabad ·
Ahmedabad ·
Bhilwara ·
Pali ·
Kanpur ·
Panipat ·
Chandigarh ·
Amritsar ·
Uttaranchal ·
UP (West) |
DIRECTORS
As on: 30.09.2013
|
Name : |
Mr. Homai Rusi Engineer |
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Designation : |
Director |
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Address : |
Vapi Industrial Township, Plot No. 227, G.I.D.C., Vapi – 396195, India |
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Date of Birth/Age : |
12.11.1941 |
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Date of Appointment : |
01.03.2010 |
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DIN No.: |
00969770 |
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Other Directorship :
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|
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Name : |
Mr. Rohinton Rusi Engineer |
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Designation : |
Whole-time director |
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|
Address : |
Vapi Industrial Township, Plot No. 227, G.I.D.C., Vapi – 396195, India |
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Date of Birth/Age : |
07.08.1962 |
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Date of Appointment : |
01.03.2010 |
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DIN No.: |
00970126 |
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Other Directorship :
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|
||||||||||||||||||||||||||||||||||||
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Name : |
Mr. Cyrus Rusi Engineer |
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Designation : |
Whole-time director |
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|
Address : |
Vapi Industrial Township, Plot No. 227, G.I.D.C., Vapi – 396195, India |
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Date of Birth/Age : |
14.11.1964 |
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Date of Appointment : |
01.03.2010 |
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DIN No.: |
01684909 |
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Other Directorship :
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KEY EXECUTIVES
|
Name : |
Mr. Pravin Patel |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Rusi Naoroji Engineer |
|
2000 |
|
Homai Engineer |
|
1043500 |
|
Rohinton Rusi Engineer |
|
394100 |
|
Cyrus Engineer |
|
294100 |
|
Chandrika Chandrawandan Oza |
|
1200 |
|
Naozar Bejon Baldawala |
|
3200 |
|
Dilnavaz Rohinton Engineer |
|
100500 |
|
Tanaaz Bejon Baldawala |
|
14800 |
|
Kaenz Cyrus Engineer |
|
100500 |
|
Ninaz Naozar Baldawala |
|
12800 |
|
Sharmin Naozar Baldawala |
|
9100 |
|
Rashna Naozar Baldawala |
|
5600 |
|
Zaraan Rohinton Engineer |
|
180700 |
|
Mehernosh Rohinton Engineer |
|
130100 |
|
Rukshin Cyrus Engineer |
|
38300 |
|
Yohan Cyrus Engineer |
|
50200 |
|
Navaaz Zaraan Engineer |
|
70000 |
|
|
|
|
|
Total |
|
2450700 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2013
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
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Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Design of Steam Boilers. |
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Products : |
·
Fluidized Bed Combustion Boilers ·
Cogeneration and Power Boilers ·
Packaged Oil, Gas, Husk and Wood Fired Boilers ·
Steam Turbines ·
Incinerators With Boilers ·
Electrostatic Precipitators ·
Solar Steam Generators |
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|
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Exports : |
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Products : |
Steam Boilers |
|
Countries : |
·
Australia ·
New Zealand ·
Sri Lanka ·
Singapore |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
SAIL, India |
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Customers : |
ONGC, India |
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No. of Employees : |
350 (Approximately) |
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Bankers : |
Corporation Bank Limited, Worli Branch, Dr. Annie Besant Road, Worli, Mumbai - 400018, Maharashtra, India |
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Facilities : |
Fund and Non Fund = 120.000 Millions
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Banking
Relations : |
-- |
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Finance Institutions : |
Gujarat State Financial Corporation, Jal Darshan Building, Asharm Road, Ahmedabad - 380009, Gujarat, India |
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Auditors : |
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|
Name : |
M. D. Desai and Company Chartered Accountants |
|
Address : |
6/12, Trivedi Niwas, New Nagardas Raod, Andheri (E), Mumbai – 400069,
Maharashtra, India |
|
|
|
|
Sister Concern : |
IP turbo Private Limited,
Noida, Uttar Pradesh, india LOB: Manufacturer of
Steam Turbine |
CAPITAL STRUCTURE
As on: 30.09.2013
Authorised Capital : Rs. 40.000 Millions
Issued, Subscribed & Paid-up Capital : Rs. 25.306
Millions
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4000000 |
Equity Shares |
Rs.10/- each |
Rs. 40.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2450700 |
Equity Shares |
Rs.10/- each |
Rs. 24.507 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 |
24.507 |
23.207 |
16.450 |
|
(b) Reserves & Surplus |
106.205 |
84.787 |
67.103 |
|
(c) Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
0.000 |
1.300 |
6.757 |
|
Total Shareholders’ Funds (1) + (2) |
130.712 |
109.294 |
90.310 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
23.741 |
17.643 |
29.637 |
|
(b) Deferred tax liabilities (Net) |
19.469 |
17.424 |
0.000 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
15.956 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
43.210 |
35.067 |
45.593 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
135.810 |
134.550 |
107.315 |
|
(c) Other current
liabilities |
215.339 |
197.417 |
157.652 |
|
(d) Short-term provisions |
33.779 |
23.983 |
19.984 |
|
Total Current Liabilities (4) |
384.928 |
355.950 |
284.951 |
|
|
|
|
|
|
TOTAL |
558.850 |
500.311 |
420.854 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
183.007 |
156.480 |
123.430 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
21.565 |
33.981 |
51.653 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.334 |
0.334 |
0.334 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
3.649 |
1.931 |
2.382 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
208.555 |
192.726 |
177.799 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
79.651 |
83.075 |
49.162 |
|
(c) Trade receivables |
124.432 |
99.723 |
103.777 |
|
(d) Cash and cash
equivalents |
63.606 |
63.066 |
46.592 |
|
(e) Short-term loans and
advances |
52.774 |
45.545 |
35.565 |
|
(f) Other current assets |
29.832 |
16.176 |
7.959 |
|
Total Current Assets |
350.295 |
307.585 |
243.055 |
|
|
|
|
|
|
TOTAL |
558.850 |
500.311 |
420.854 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
710.293 |
610.081 |
572.615 |
|
|
|
Other Income |
5.257 |
4.022 |
3.027 |
|
|
|
TOTAL (A) |
715.550 |
614.103 |
575.642 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Changes in inventories of finished goods work-in-progress and stock in
trade |
4.341 |
(34.718) |
(16.759) |
|
|
|
Cost of material consumed |
456.531 |
430.789 |
407.513 |
|
|
|
Employee benefit expenses |
48.413 |
39.599 |
29.988 |
|
|
|
Other expenses |
159.386 |
136.556 |
121.305 |
|
|
|
TOTAL (B) |
668.671 |
572.226 |
542.047 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
46.879 |
41.877 |
33.595 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
4.095 |
6.538 |
3.898 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
42.784 |
35.339 |
29.697 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
9.580 |
7.889 |
6.475 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
33.204 |
27.450 |
23.222 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
11.335 |
9.315 |
8.035 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
21.869 |
18.135 |
15.187 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
82.248 |
82.247 |
60.812 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
8.92 |
7.81 |
9.23 |
|
|
Particulars |
|
31.03.2014 |
31.03.2013 |
|
Sales Turnover (Approximately) |
|
900.000 |
750.000 |
The above information has been parted by Mr. Pravin Patel.
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
3.06 |
2.95 |
2.63 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.68 |
4.50 |
4.06 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.18 |
5.90 |
6.30 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.26 |
0.25 |
0.26 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.18 |
0.16 |
0.32 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.91 |
0.87 |
0.85 |
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 |
16.450 |
23.207 |
24.507 |
|
Reserves & Surplus |
67.103 |
84.787 |
106.205 |
|
Net worth |
83.553 |
107.994 |
130.712 |
|
|
|
|
|
|
long-term borrowings |
29.637 |
17.643 |
23.741 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
29.637 |
17.643 |
23.741 |
|
Debt/Equity ratio |
0.355 |
0.163 |
0.182 |
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 |
572.615 |
610.081 |
710.293 |
|
|
|
6.543 |
16.426 |
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 |
572.615 |
610.081 |
710.293 |
|
Profit |
15.187 |
18.135 |
21.869 |
|
|
2.65% |
2.97% |
3.08% |
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 |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if applicable) |
Yes |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
80027708 |
10/06/2013 * |
120,000,000.00 |
CORPORATION BANK LIMITED |
WORLI BRANCH, DR. ANNIE BESANT ROAD,, WORLI ,, MUMBAI, MAHARASHTRA - 400018, INDIA |
B77416949 |
FIXED ASSETS
·
Land and Buildings
·
Furniture and Fixture
·
Office Equipment
·
Computer and Printer
·
Fax Machine
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 judgment 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.61.57 |
|
|
1 |
Rs.100.42 |
|
Euro |
1 |
Rs.78.45 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
JAY |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
43 |
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.