MIRA INFORM REPORT
|
Report No. : |
316068 |
|
Report Date : |
06.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
SPECIALITY SINTERED PRODUCTS PRIVATE LIMITED |
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Registered
Office : |
Gat No 409/1, Ranubai Mala, Chakan-Talesaon Road, Nanekarwadi, Khed, Pune – 410501, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
03.09.1998 |
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Com. Reg. No.: |
11-012837 |
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Capital
Investment / Paid-up Capital : |
Rs.34.222 Million |
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CIN No.: [Company Identification
No.] |
U34300PN1998PTC012837 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Ferrous and Non-Ferrous Sintered Parts. |
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|
No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (33) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 huge external borrowings taken
by the company which may act as a threat to its liquidity. Further, the
company has suffered operational loss during FY 2014. However, the company has achieved increased turnover during the year
under review. Trade relations are reported to be fair. Business is active. Payment
terms are reported to be slow but correct. The company can be considered for business dealings 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.
EXTERNAL AGENCY RATING
NOT AVAILABLE
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. Niranjan Madhukar Narkhede |
|
Designation : |
Whole-time Director |
|
Contact No.: |
91-9822308210 |
|
Date : |
03.04.2015 |
LOCATIONS
|
Registered Office/ Factory 1 : |
Gat No 409/1, Ranubai Mala, Chakan-Talesaon Road,
Nanekarwadi, Khed, Pune – 410501, Maharashtra, India |
|
Tel. No. : |
91-2135-286337/ 278800/ 324165 |
|
Mobile No. : |
91-9818378999 (Mr. Natwarlal Amrutlal Makwana) 91-9822308210 (Mr. Niranjan Madhukar Narkhede) |
|
Fax No. : |
91-2135-286337 |
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E-Mail : |
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|
Website : |
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Factory 2 : |
Gat No.1122, 1129, 1140, 1295, 1296 Industrial Plot No. 1/C, At / Post - Shirwal, Tal-Khandala, Satara – 412801, Maharashtra, India |
|
Tel. No.: |
91-2169-244544 |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Natwarlal Amrutlal Makwana |
|
Designation : |
Director |
|
Address : |
‘Astha’, Plot No. 438, Sector 14, Gurgaon – 122001, Haryana, India |
|
Date of Birth/Age : |
20.06.1940 |
|
Date of Appointment : |
03.09.1998 |
|
DIN No. : |
00329059 |
|
|
|
|
Name : |
Mr. Bipin Sadanand Thanekar |
|
Designation : |
Managing Director |
|
Address : |
S. No. 287-3-4-5, Flat D-201, Baner Riviresa, Pune – 411045,
Maharashtra, India |
|
Date of Birth/Age : |
31.10.1938 |
|
Date of Appointment : |
03.09.1998 |
|
DIN No. : |
00479079 |
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|
|
|
Name : |
Mr. Niranjan Madhukar Narkhede |
|
Designation : |
Whole-time Director |
|
Address : |
Flat No. 5, Harshada Classic Apts, Shitole Nagar, Old Sangvi, Pune –
411027, Maharashta, India |
|
Date of Birth/Age : |
02.06.1977 |
|
Date of Appointment : |
06.07.2011 |
|
DIN No. : |
03361093 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
NOTE: SHAREHOLDING DETAILS FILE ATTACHED.
As on 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Foreign holdings (Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
9.30 |
|
Bodies corporate |
27.49 |
|
Directors or relatives of Directors |
31.12 |
|
Other top fifty shareholders |
32.09 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Ferrous and Non-Ferrous Sintered Parts. |
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|
Products : |
Ferrous and Non-Ferrous Sintered Parts |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
-- |
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Imports : |
-- |
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Terms : |
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Selling : |
Cash and Credit (30 Days/ 60 Days/ 90 Days) |
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Purchasing : |
Cash and Credit (30 Days/ 60 Days/ 90 Days) |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
OEMs and End Users
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No. of Employees : |
100 (Approximately) |
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Bankers : |
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Facilities : |
NOTE SHORT TERM
BORROWINGS Working capital loan (cash credit facility) mentioned is secured by way of hypothecation of book debts and inventory. |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Bal Bhatia and Company Chartered Accountants |
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Address : |
103, Shree Laxmi Villa 1170/32, Revenue Colony, Shivajinagar, Pune – 411005, Maharashtra, India |
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Income-tax
PAN of auditor or auditor's firm : |
AAFFB1463K |
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Memberships : |
-- |
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Collaborators : |
-- |
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Associates/Subsidiaries : |
-- |
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3,490,000 |
Equity Shares |
Rs.10/- each |
Rs. 34.900 Million |
|
10,000 |
Preference Shares |
Rs.10/- each |
Rs. 0.100 Million |
|
|
|
|
|
|
|
Total |
|
Rs. 35.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3,422,240 |
Equity Shares |
Rs.10/- each |
Rs. 34.222 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 |
34.222 |
34.222 |
24.532 |
|
(b) Reserves & Surplus |
50.062 |
65.381 |
15.155 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
0.000 |
0.000 |
47.511 |
|
Total
Shareholders’ Funds (1) + (2) |
84.284 |
99.603 |
87.198 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
287.655 |
169.753 |
77.975 |
|
(b) Deferred tax liabilities (Net) |
8.254 |
7.039 |
4.087 |
|
(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) |
295.909 |
176.792 |
82.062 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
62.454 |
40.104 |
28.508 |
|
(b) Trade
payables |
88.075 |
59.266 |
41.473 |
|
(c) Other
current liabilities |
55.192 |
138.932 |
24.279 |
|
(d) Short-term
provisions |
0.623 |
5.154 |
0.903 |
|
Total Current
Liabilities (4) |
206.344 |
243.456 |
95.163 |
|
|
|
|
|
|
TOTAL |
586.537 |
519.851 |
264.423 |
|
|
|
|
|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
224.203 |
200.694 |
96.258 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
175.963 |
168.872 |
45.592 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.303 |
0.300 |
0.300 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
2.825 |
1.876 |
23.444 |
|
(e) Other Non-current
assets |
0.044 |
0.059 |
0.000 |
|
Total Non-Current
Assets |
403.338 |
371.801 |
165.594 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
81.053 |
59.885 |
26.812 |
|
(c) Trade
receivables |
83.144 |
72.282 |
61.458 |
|
(d) Cash
and cash equivalents |
5.908 |
5.427 |
6.374 |
|
(e)
Short-term loans and advances |
13.094 |
10.456 |
4.185 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
183.199 |
148.050 |
98.829 |
|
|
|
|
|
|
TOTAL |
586.537 |
519.851 |
264.423 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
350.121 |
252.636 |
216.015 |
|
|
|
Other Income |
2.237 |
1.326 |
0.754 |
|
|
|
TOTAL |
352.358 |
253.962 |
216.769 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
366.463 |
237.056 |
194.640 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
(14.105) |
16.906 |
22.129 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1.215 |
5.441s |
7.309 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
(15.320) |
11.465 |
14.820 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
0.444 |
0.402 |
0.141 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Machinery Spare Parts |
NA |
0.008 |
0.000 |
|
|
|
Capital Goods |
NA |
137.667 |
15.333 |
|
|
TOTAL IMPORTS |
NA |
137.675 |
15.333 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(4.48) |
3.35 |
6.04 |
|
Expected Sales (2014-2015): Rs. 400.000 Millions
The above information has been parted by Mr. Niranjan Madhukar Narkhede (Whole-time Director).
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
(4.38) |
4.54 |
6.86 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(3.44) |
4.82 |
10.13 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.17) |
0.17 |
0.25 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
4.15 |
2.11 |
1.22 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.89 |
0.61 |
1.04 |
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 |
24.532 |
34.222 |
34.222 |
|
Reserves & Surplus |
15.155 |
65.381 |
50.062 |
|
Share Application money
pending allotment |
47.511 |
0.000 |
0.000 |
|
Net
worth |
87.198 |
99.603 |
84.284 |
|
|
|
|
|
|
long-term borrowings |
77.975 |
169.753 |
287.655 |
|
Short term borrowings |
28.508 |
40.104 |
62.454 |
|
Total
borrowings |
106.483 |
209.857 |
350.109 |
|
Debt/Equity
ratio |
1.221 |
2.107 |
4.154 |
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 |
216.015 |
252.636 |
350.121 |
|
|
|
16.953 |
38.587 |
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 |
216.015 |
252.636 |
350.121 |
|
Profit |
14.820 |
11.465 |
-15.320 |
|
|
6.86% |
4.54% |
-4.38% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBTS
|
Particulars |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
|
|
|
|
|
Current Maturities of Loans |
33.235 |
28.429 |
13.983 |
|
|
|
|
|
|
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 |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
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 |
----- |
|
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 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10463752 |
30/11/2013 |
5,039,326.00 |
RELIANCE CAPITAL LTD |
"H" BLOCK 1ST FLOOR, DHIRUBHAI AMBANI KNOWLEDGE CITY, KOPARKHAIRNE, NAVI MUMBAI, MAHARASHTRA - 400710, INDIA |
B90927245 |
|
2 |
10354390 |
29/03/2012 |
160,000,000.00 |
CANARA BANK |
115/1 UMED BHAVAN,, STATION ROAD, PIMPRI, PUNE, |
B39216783 |
|
3 |
10355835 |
28/03/2012 |
565,000.00 |
CANARA BANK |
BUILDING NO 1698/1 , NEAR AMBETHAN CHOWK, NEXT TO CHAKAN HPCL PETROL DEPOT , CHAKAN, PUNE, MAHARASHTRA - 410501, INDIA |
B39649751 |
|
4 |
10192996 |
03/08/2011 * |
32,000,000.00 |
CANARA BANK |
115/1 UMED BHAVAN, STATION ROAD, PIMPRI, PUNE, MAHARASHTRA - 411018, INDIA |
B19675800 |
|
5 |
10095869 |
14/11/2009 * |
13,000,000.00 |
CANARA BANK |
IF BRANCH, CAMP, M. G. ROAD, PUNE, MAHARASHTRA - |
A76163039 |
|
6 |
10032909 |
19/12/2006 |
1,500,000.00 |
CANARA BANK |
INDUSTRIAL FINANCE BRANCH, MG ROAD, PUNE, MAHARASHTRA - 411001, INDIA |
A09408022 |
|
7 |
90088330 |
29/03/2012 * |
30,000,000.00 |
CANARA BANK |
115/1 UMED BHAVAN, STATION ROAD, PIMPRI, PUNE, MA |
B39219175 |
|
8 |
90085502 |
15/01/2014 * |
341,700,000.00 |
CANARA BANK |
UMED BHAVAN, STATION ROAD, PIMPRI BRANCH, PIMPRI, PUNE, MAHARASHTRA - 412108, INDIA |
B94628542 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
LONG TERM
BORROWINGS |
|
|
|
Loan from Directors and their relatives |
15.518 |
11.143 |
|
Loan from Shareholders |
64.300 |
37.800 |
|
Advance from Customers |
7.286 |
4.087 |
|
Deferred Payment Liabilities |
9.761 |
9.342 |
|
Total |
96.865 |
62.372 |
FINANCIAL RESULTS
During the year the turnover of the company increased by 38.59% as compared to the previous year. However, the company has incurred a loss of Rs. 14.105 Millions as against profit before tax at 6.69% in the previous year.
Despite continuing slow down during the year, which has continued in the curren year too, the company could get additional orders resulting increase in the turnover. However, the same were not sufficient for optimum utilization of the plat, one of the major reasons attributable to the loss. The margins are under pressure due to increase in the employee cost, depreciation and manufacturing costs.
The Shirwal project has become partially operational from October 2013 and the capacity utilization was upto 25% during the year. It is expected to be completely operational in the current year i.e. 2014-15.
FIXED ASSETS
· Freehold land
· Building
· Plant and Machinery
· Electric Installation
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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 : |
PPT |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
33 |
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.