MIRA INFORM REPORT
|
Report No. : |
315749 |
|
Report Date : |
04.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
HIRA ELECTRO SMELTERS LIMITED (w.e.f. 01.04.2014) |
|
|
|
|
Formerly Known As
: |
HIRA
ELECTRO SMELTERS PRIVATE LIMITED (w,e,f, 04.04.2013) RVR
SMELTERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. 364 To 367, APIIC Growth Centre, Bobbili – 535558, Andhra Pradesh |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on)
: |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
25.01.2007 |
|
|
|
|
Com. Reg. No.: |
01-052498 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 48.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27109AP2007PLC052498 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
HYDR04801G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCR5279C |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
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Line of Business
: |
Subject is engaged in the manufacturing of Ferro Alloys. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
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 |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
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|
Litigation : |
Clear |
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|
Comments : |
Subject is a subsidiary of “HIRA POWER AND STEELS LIMITED”. It is an established company having a
satisfactory track record. The company has processed above average operational performance which
has resulted into profit achieved from its operational activities during
2014. Further rating also takes into consideration unconditional and
irrevocable corporate guarantee issued by holding company. Trade relations are fair. Business is active. Payment terms are
reported to be slow but correct. In view of strong holding company support, the company can be
considered for business dealings at usual 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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Term Loans = BBB |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
May, 2014 |
|
Rating Agency Name |
ICRA |
|
Rating |
Non Fund Based Facilities = A3+ |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
May, 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 DECLINED BY
|
Name : |
Mr. Siddharth Borkar |
|
Designation : |
Account Manager |
|
Contact No.: |
91-9752425387 |
|
Date : |
03.04.2015 |
LOCATIONS
|
Registered Office / Factory : |
Plot No. 364 To 367, APIIC Growth Centre, Bobbili – 535558, Andhra Pradesh,
India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9752425387 (Mr. Siddharth Borkar) |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
AS ON 26.09.2014
|
Name : |
Mr. Rahul Agrawal |
|
Designation : |
Director |
|
Address : |
Om Kutir, Civil Lines, Raipur – 492001, Chhattisgarh, India |
|
Date of Birth/Age : |
29.06.1982 |
|
Date of Appointment : |
29.09.2011 |
|
DIN No.: |
00495027 |
|
|
|
|
Name : |
Mr. Prakash Gauri Shankar Thakar |
|
Designation : |
Director |
|
Address : |
Flat No 6, Block-1, Akash Nagar Appartment, Avanti Vihar, Raipur –
492001, Chhattisgarh, India |
|
Date of Birth/Age : |
21.09.1960 |
|
Date of Appointment : |
29.09.2011 |
|
DIN No.: |
03599817 |
|
|
|
|
Name : |
Mr. Akhilendra Singh Ramcharan Singh Tomer |
|
Designation : |
Whole-Time Director |
|
Address : |
H. No. 4D, Avani Vihar, Daldal Sivani Po- Saddu Village, V.S. Road,
Raipur – 492001, Chhattisgarh, India |
|
Date of Birth/Age : |
12.11.1950 |
|
Date of Appointment : |
29.09.2012 |
|
DIN No.: |
06365378 |
KEY EXECUTIVES
|
Name : |
Mr. Siddharth Borkar |
|
Designation : |
Account Manager |
|
|
|
|
Name : |
Jain Tuteja and Associates |
|
Designation : |
Company Secretaries |
|
Address : |
C/o Ravindra Kiraya Bhandra Hotel Ranjit Building, Station Road,
Raipur, Chhattisgarh, India |
|
Mobile No.: |
91-9827900541 / 9827118423 |
|
Email : |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 26.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Hira Power And Steels Limited, India |
|
4799400 |
|
Rahul Agrawal |
|
100 |
|
Om Prakash Agrawal |
|
100 |
|
Raj Devi Agrawal |
|
100 |
|
Vikas Agrawal |
|
100 |
|
Nikita Agrawal |
|
100 |
|
Shilpa Agrawal |
|
100 |
|
Total |
|
4800000 |
AS ON 26.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the manufacturing of Ferro Alloys. |
|
|
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|
Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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|
Terms : |
Not Divulged |
PRODUCTION STATUS : NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
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Facilities : |
|
|
Auditors : |
|
|
Name : |
Sunil and Sanjay Company Chartered Accountants |
|
Address : |
1-7-264/2016, 2nd Floor, Emerald House, S.D. Raod,
Secundrabad – 500003, Telangana, India |
|
PAN No.: |
AAIFS8895H |
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|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
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|
|
|
Holding Company : |
Hira Power and Steels Limited CIN No.: U24117CT1984PLC002512 |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6,000,000 |
Equity Shares |
Rs.10/- each |
Rs.60.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4,800,000 |
Equity Shares |
Rs.10/- each |
Rs.48.000
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
48.000 |
48.000 |
48.000 |
|
(b) Reserves & Surplus |
14.457 |
6.840 |
17.902 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
117.400 |
70.000 |
70.000 |
|
Total
Shareholders’ Funds (1) + (2) |
179.857 |
124.840 |
135.902 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.319 |
20.977 |
39.474 |
|
(b) Deferred tax liabilities (Net) |
5.995 |
7.286 |
5.135 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
15.107 |
0.000 |
|
Total Non-current
Liabilities (3) |
6.314 |
43.370 |
44.609 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
46.579 |
100.767 |
31.517 |
|
(b) Trade
payables |
194.634 |
90.075 |
108.817 |
|
(c) Other
current liabilities |
55.042 |
57.055 |
26.956 |
|
(d) Short-term
provisions |
16.725 |
9.877 |
8.890 |
|
Total Current
Liabilities (4) |
312.98 |
257.774 |
176.180 |
|
|
|
|
|
|
TOTAL |
499.151 |
425.984 |
356.691 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
106.132 |
111.487 |
122.718 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
52.187 |
53.702 |
11.661 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(e) Other
Non-current assets |
15.275 |
19.493 |
8.591 |
|
Total Non-Current
Assets |
173.594 |
184.682 |
142.970 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
2.781 |
|
(b)
Inventories |
204.335 |
127.725 |
133.572 |
|
(c) Trade
receivables |
3.085 |
7.521 |
27.954 |
|
(d) Cash
and cash equivalents |
46.942 |
45.387 |
7.535 |
|
(e)
Short-term loans and advances |
71.195 |
60.669 |
41.879 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
325.557 |
241.302 |
213.721 |
|
|
|
|
|
|
TOTAL |
499.151 |
425.984 |
356.691 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
642.843 |
443.210 |
391.630 |
|
|
|
Other Operating Revenue |
12.510 |
15.391 |
5.861 |
|
|
|
Other Income |
4.188 |
8.320 |
2.183 |
|
|
|
TOTAL (A) |
659.541 |
466.921 |
399.674 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
423.685 |
246.037 |
258.556 |
|
|
|
Purchases of Stock-in-Trade |
18.785 |
5.892 |
0.000 |
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(52.091) |
(18.268) |
(45.080) |
|
|
|
Employees benefits expense |
22.103 |
17.209 |
12.808 |
|
|
|
Other expenses |
210.378 |
153.226 |
136.251 |
|
|
|
Extraordinary Items |
0.000 |
35.416 |
0.000 |
|
|
|
TOTAL (B) |
622.860 |
439.512 |
362.535 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
36.681 |
27.409 |
37.139 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
17.434 |
21.372 |
13.423 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
19.247 |
6.037 |
23.716 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
12.922 |
14.846 |
16.363 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
6.325 |
(8.809) |
7.353 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(1.292) |
2.253 |
2.243 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
7.617 |
(11.062) |
5.110 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
177.383 |
218.702 |
65.788 |
|
|
|
|
|
|
|
|
|
|
CIF VALUE
OF IMPORTS |
107.803 |
69.067 |
26.100 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
1.59 |
(2.30) |
1.06 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin |
(%) |
1.18 |
(2.50) |
1.30 |
|
|
|
|
|
|
|
Operating Profit Margin |
(%) |
5.71 |
6.18 |
9.48 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.42 |
(2.37) |
2.13 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04 |
(0.07) |
0.05 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.26 |
0.98 |
0.52 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.04 |
0.94 |
1.21 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
48.000 |
48.000 |
48.000 |
|
Reserves & Surplus |
17.902 |
6.840 |
14.457 |
|
Share Application money pending allotment |
70.000 |
70.000 |
117.400 |
|
Net worth |
135.902 |
124.840 |
179.857 |
|
|
|
|
|
|
long-term borrowings |
39.474 |
20.977 |
0.319 |
|
Short term borrowings |
31.517 |
100.767 |
46.579 |
|
Total borrowings |
70.991 |
121.744 |
46.898 |
|
Debt/Equity ratio |
0.522 |
0.975 |
0.261 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
391.630 |
443.210 |
642.843 |
|
|
|
13.171 |
45.043 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
391.630 |
443.210 |
642.843 |
|
Profit/loss |
5.110 |
(11.062) |
7.617 |
|
|
1.30% |
(2.50%) |
1.18% |
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 |
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 |
10521738 |
02/03/2015 * |
24,700,000.00 |
ICICI BANK LIMITED |
3A, GURUSADAY ROAD, KOLKATA, KOLKATA, WEST BENGAL |
C46992855 |
|
2 |
10521735 |
02/03/2015 * |
160,000,000.00 |
ICICI BANK LIMITED |
3A, GURUSADAY ROAD, KOLKATA, BARODA, WEST BENGAL |
C46991949 |
|
3 |
10218799 |
31/08/2012 * |
241,800,000.00 |
STATE BANK OF INDIA |
OVERSEAS BRANCH, 9-1-57, GNT ROAD, VISAKHAPATNAM, |
B60557865 |
* Date of charge modification
REVIEW OF OPERATIONS
During the year, the Indian Ferro Alloys Industry had Shown signs of recovery in domestic and export markets. However, the prices are yet to stabilize. The units in Andhra Pradesh have suffered production losses due to power restrictions imposed by the power distribution companies. The power situation in the current year has improved with the option for the company to purchase private power.
BUSINESS PERFORMANCE
During the financial year 2013-14, the Company has produced 9752.42 MT of Ferro Alloys against the production of 6824.50 MT of Ferro Alloys during the previous year and sold during the year 9146.22 MT of Ferro Alloys at Rs. 651.952 Million as against 6763.00 MT of Ferro Alloys at Rs. 405.748 Million during the previous year. The profit/(Loss) before tax is Rs. 6.325 Million as against Rs.(8.808) Million in the previous year. The profit/ (Loss) after tax is Rs. 7.617 Million as against Rs.(11.062) Million in the previous year.
PROSPECTS
The signs of recovery of economic growth and a number of on-going domestic infrastructure development projects in India and China are slow and effects the global steel demand. The Infrastructure Industry, the largest end-use sector for steel, is expected to register slow growth in the domestic market as the Government of India is efforts and the need for implementation of infrastructure projects on priority basis for economic prosperity. With the election result through a firm mandate and the improvement in the general sentiment, the company is looking at the future with the cautious options. With the increased market demand and expected realizations, the prospects of the Company during the Current year are expected to be good.
SUBSIDIARY OF HIRA
POWER AND STEELS LIMITED
The Company has become 100% Subsidiary of M/s Hira Power and Steels Limited, a Company based in Raipur, Chhattisgarh and engaged in the business of manufacture of Ferro Alloys and Generation of Power.
GENERAL INFORMATION
Hira Electro Smelters Limited [Formerly known as RVR Smelters Private Limited] is a manufacturing of ferro alloys having its factory situated at Plot No. 364 To 367, APIIC, Growth Centre, Bobbili - 535558, Andhra Pradesh, India
NOTE
The registered office of the company has been shifted from
Plot No. 39 and 40, S.V.C.I.V., Bala Nagar, Hyderabad – 500037, Andhra Pradesh,
India to
present address w.e.f. 20.01.2010.
FIXED ASSETS
- Land
- Building
- Plant and Equipment
- Furniture and Fixtures
- Vehicle
- Office Equipment
- Computer
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.62.59 |
|
|
1 |
Rs.92.46 |
|
Euro |
1 |
Rs.67.51 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
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 |
3 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
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.