MIRA INFORM REPORT
|
Report No. : |
317180 |
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Report Date : |
15.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
SEVERN GLOCON INDIA PRIVATE LIMITED |
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Registered
Office : |
F 96 and F 97, SIPCOT
Industrial Park, Irungattukkottai, Chennai – 602 105, Tamilnadu |
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Tel. No.: |
91-44-47104200 |
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Country : |
India |
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Financials (as
on) : |
31.12.2013 |
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Date of
Incorporation : |
01.03.2004 |
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Com. Reg. No.: |
18-052642 |
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Capital
Investment / Paid-up Capital : |
Rs.6.554 million |
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CIN No.: [Company Identification
No.] |
U31200TN2004PTC052642 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAHCS9495H |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in manufacturing of severe critical control valves, which find application across several industries, such as oil and gas, liquefied natural gas, power and steel. |
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No. of Employees
: |
Information declined by the Management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (52) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a
subsidiary of Severn Glocon Limited, United Kingdom. It is an established
company having fine track. The rating takes
into consideration company’s established position in the valves industry
supported by its experienced management and parent company. The management
has witnessed decent turnover and profitability during year under review. The
rating also takes note of company’s healthy financial risk profile marked by strong
networth, low gearing and good liquidity position during FY 2014. Trade relations
are reported to be fair. Business is active. Payments are reported to be
regular and as per commitments. The company can
be considered normal 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 |
CRISIL |
|
Rating |
Long Term Rating: BBB+ |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
09.07.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating: A2 |
|
Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
09.07.2014 |
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 (PARTIAL DETAILS)
|
Name : |
Mr. Rajendra |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-9790905462 |
|
Date : |
14.04.2015 |
LOCATIONS
|
Registered Office/ Factory : |
F 96 and F 97, SIPCOT Industrial
Park, Irungattukkottai, Chennai – 602 105, Tamilnadu, India |
|
Tel. No. : |
91-44-47104200 |
|
Mobile No. : |
91-9790905462 (Mr. Rajendra) |
|
Fax No. : |
Not Available |
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E-Mail : |
DIRECTORS
AS ON 25.04.2014
|
Name : |
Ganapathy Kalaiselvan |
|
Designation : |
Director |
|
Address : |
D-17,
Shanthiniketan West Woods, 3/940, Porur-Porur-Kunrathur Road, Madanandapuram,
PO, Chennai – 600 116, Tamilnadu, India |
|
Date of Birth/Age : |
02.06.1971 |
|
Date of Appointment : |
01.03.2004 |
|
DIN No. : |
00932624 |
|
|
|
|
Name : |
Vanchinathan Kalyanasundaram |
|
Designation : |
Director |
|
Address : |
Maha
Flats, Plot No.51, F-1, 8th Street Extension, Kuberan Nagar,
Madipakkam, Chennai – 600 091, Tamilnadu, India |
|
Date of Birth/Age : |
15.07.1970 |
|
Date of Appointment : |
28.12.2013 |
|
DIN No. : |
06776493 |
KEY EXECUTIVES
|
Name : |
Vanchinathan Kalyanasundaram |
|
Designation : |
Secretary |
|
Address : |
Maha
Flats Plot No.51, F-1, 8th Street Extension, Kuberan Nagar,
Madipakkam, Chennai – 600 031, Tamilnadu, India |
|
Date of Birth/Age : |
15.07.1970 |
|
Date of Appointment : |
03.07.2006 |
|
PAN No.: |
AEUPV5689Q |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 25.04.2014
|
Names of Shareholders |
|
No. of Shares |
|
Severn Glocon
Limited, United Kingdom |
|
655350 |
|
G. Kalaiselvan |
|
1 |
|
Maurice Critchley, United
Kingdom |
|
84 |
|
Total |
|
655435 |
AS ON 25.04.2014
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] |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in manufacturing of severe critical control valves, which find application across several industries, such as oil and gas, liquefied natural gas, power and steel. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS –
NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the Management. |
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Bankers : |
State Bank of India, Overseas Branch, No.86.
Rajaji Salai, Chennai – 600 001, Tamilnadu, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Abraham
Associates Chartered Accountants |
|
Address : |
F-I, Third Floor, Malli's
Buildings, No.262, Anna Salai, Chennai – 600 002, Tamilnadu, India |
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PAN
No.: |
ACTPN6796M |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding Company : |
Severn Glocon
Limited, United Kingdom |
CAPITAL STRUCTURE
AS ON 25.04.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
655435 |
Equity Shares |
Rs.10/- each |
Rs.6.554 million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)
Shareholders' Funds |
|
|
|
|
(a) Share Capital |
6.554 |
6.554 |
6.554 |
|
(b) Reserves & Surplus |
1377.280 |
760.148 |
499.494 |
|
(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) |
1383.834 |
766.702 |
506.048 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
68.090 |
26.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
1.090 |
0.999 |
2.095 |
|
(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) |
69.180 |
26.999 |
2.095 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
245.257 |
163.326 |
94.767 |
|
(b) Trade
payables |
377.077 |
622.040 |
623.618 |
|
(c) Other current
liabilities |
8.950 |
5.806 |
7.479 |
|
(d) Short-term
provisions |
235.666 |
133.240 |
35.733 |
|
Total Current
Liabilities (4) |
866.950 |
924.412 |
761.597 |
|
|
|
|
|
|
TOTAL |
2319.964 |
1718.113 |
1269.740 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
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|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
274.692 |
145.443 |
138.568 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
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 |
1.397 |
0.921 |
0.910 |
|
(e) Other Non-current
assets |
0.000 |
49.477 |
71.797 |
|
Total Non-Current
Assets |
276.089 |
195.841 |
211.275 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
439.011 |
476.319 |
412.373 |
|
(c) Trade
receivables |
1470.195 |
858.522 |
616.740 |
|
(d) Cash
and cash equivalents |
33.536 |
92.990 |
12.843 |
|
(e)
Short-term loans and advances |
10.235 |
39.992 |
9.060 |
|
(f) Other
current assets |
90.898 |
54.449 |
7.449 |
|
Total
Current Assets |
2043.875 |
1522.272 |
1058.465 |
|
|
|
|
|
|
TOTAL |
2319.964 |
1718.113 |
1269.740 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Export Sales |
2184.288 |
1944.053 |
652.142 |
|
|
|
Domestic Sales |
159.882 |
122.682 |
|
|
|
|
Other Income |
1.509 |
90.345 |
NA |
|
|
|
Increase / (decrease) in Stock |
4.331 |
63.946 |
NA |
|
|
|
TOTAL |
2350.010 |
2221.026 |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Operating Expenses |
1598.054 |
1788.500 |
NA |
|
|
|
TOTAL |
1598.054 |
1788.500 |
NA |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
751.956 |
432.526 |
113.305 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST |
14.566 |
18.274 |
6.407 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
737.390 |
414.252 |
106.898 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
27.452 |
25.278 |
14.898 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
709.938 |
388.974 |
92.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
241.503 |
128.319 |
31.500 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
468.435 |
260.655 |
60.500 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
2139.855 |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
715.00 |
397.68 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
Net Profit Margin (PAT/Sales) |
(%) |
19.98 |
12.61 |
9.28 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/ Sales) |
(%) |
32.08 |
20.93 |
17.37 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
30.60 |
22.64 |
7.25 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.51 |
0.51 |
0.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.23 |
0.25 |
0.19 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.36 |
1.65 |
1.39 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.12.2011 |
31.12.2012 |
31.12.2013 |
|
|
(INR in Million) |
(INR in Million) |
(INR in Million) |
|
Share Capital |
6.554 |
6.554 |
6.554 |
|
Reserves & Surplus |
499.494 |
760.148 |
1377.280 |
|
Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
506.048 |
766.702 |
1383.834 |
|
|
|
|
|
|
Long Term borrowings |
0.000 |
26.000 |
68.090 |
|
Short Term borrowings |
94.767 |
163.326 |
245.257 |
|
Total borrowings |
94.767 |
189.326 |
313.347 |
|
Debt/Equity ratio |
0.187 |
0.247 |
0.226 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.12.2011 |
31.12.2012 |
31.12.2013 |
|
|
(INR in Million) |
(INR in Million) |
(INR in Million) |
|
Sales |
652.142 |
2066.735 |
2344.170 |
|
|
|
216.915 |
13.424 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.12.2011 |
31.12.2012 |
31.12.2013 |
|
|
(INR in Million) |
(INR in Million) |
(INR in Million) |
|
Sales |
652.142 |
2066.735 |
2344.170 |
|
Profit |
60.500 |
260.655 |
468.435 |
|
|
9.28% |
12.61% |
19.98% |
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 |
NOTE:
The registered address of the company has been shifted from SP-7, Ambattur
Industrial Estate, Ambattur, Chennai – 600 058, Tamilnadu to the present
address w.e.f. 25.02.2008.
PERFORMANCE REVIEW:
The Company concluded yet another year of outstanding results, facing
the challenges and competition confronting the Company. They present their
performance for the unpublished period of January2013 to December 2013. The
financial results reflect their Company's soundness of operations and
robustness of strategy.
FINANCIAL
HIGHLIGHTS:
Ø They had achieved 100% of Estimated Turnover during the period January
13 to December 13.
Ø They had achieved reasonable profit for the period.
BUSINESS PROSPECTS:
Ø The Company has drawn up a strategic Plan to achieve a sizeable growth
in its turnover in the coming years.
Ø Their volume of production of new series of Butterfly valves is being
increased.
Ø Their immediate focus will be on increased Research and Development
activities, which is expected to provide the much needed breakthrough
technological products.
Ø Their focus on new markets especially Indian Market is increased.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10234342 |
07/03/2013 * |
410,000,000.00 |
STATE BANK OF INDIA |
OVERSEAS BRANCH, NO.86.
RAJAJI SALAI, CHENNAI, TAMILNADU - 600001, INDIA |
B70302328 |
|
2 |
10039242 |
28/09/2013 * |
245,000,000.00 |
AXIS BANK |
CORPORATE BANKING BRANCH,
NO.192 KARUMUTTU NILAYAM, ANNA SALAI, CHENNAI, TAMILNADU - 600002, INDIA |
B87759734 |
* Date of charge modification
FIXED ASSETS
·
Land
·
Buildings
·
Plant and Equipments
·
Furniture and Fixtures
·
Vehicles
·
Office Equipments
WEBSITE DETAILS:
NEWS:
SEVERN GLOCON MANUFACTURES 'BIGGEST EVER'
CONTROL VALVES
27th January, 2015
Severn Glocon
recently designed and manufactured the largest control valves in its 53 year
history, at 42" bore and 21 tonnes in weight.
Over the next six
months four valves of this scale will have been despatched from the Gloucester
factory. Two are for the Ichthys LNG project in Australia and the others are
destined for a Middle East oilfield.
Successful
completion of these technically challenging valves will underline the calibre
of Severn Glocon's intelligence-led engineering and its in-house capabilities.
Coping with their size and weight alone requires extensive logistics planning.
This is particularly complex for the LNG valves which need to undergo cryogenic
testing to prove they can operate reliably at temperatures as low as -160°c.
Future developments
in the oil and gas industry will see valves of this size becoming a more
regular feature. Severn Glocon has invested in technical expertise, facilities
and infrastructure to meet the challenge.
Rob Green, Director
of Operations at Severn Glocon, explains: "As a control valve engineering
specialist, we're used to developing innovative solutions for difficult
applications. However, valves of this size and scale bring a whole host of
additional complexities. We extended the capacity of our in-house cryogenic
testing facilities and developed robust operating procedures to ensure that the
valves progress through production safely and efficiently. Manoeuvring valves
of this size safely requires the co-ordinated operation of two cranes, so we
needed to plan well and work closely with our sub-contractors."
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] 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.62.39 |
|
|
1 |
Rs.91.06 |
|
Euro |
1 |
Rs.66.16
|
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
SMN |
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 |
6 |
|
-- PROFITABILITY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
52 |
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.