MIRA INFORM REPORT
|
Report No. : |
318159 |
|
Report Date : |
17.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
DELTA IRON AND STEEL COMPANY PRIVATE LIMITED |
|
|
|
|
Registered Office
: |
Unit / Office No. 205, 2nd Floor, Windfall Building,
Andheri Kurla Road, J B Nagar, Andheri (East), Mumbai – 400059, Maharashtra |
|
Tel. No.: |
91-22-45023000 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
07.02.1996 |
|
|
|
|
Com. Reg. No.: |
11-097025 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 14.310 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27100MH1996PTC097025 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
MUMD09960G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACD8450A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader and Importer of Iron and Steel Products. |
|
|
|
|
No. of Employees
: |
50 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. The rating takes into consideration company’s established market position
in the steel-trading segment supported by sound financial base and fair
liquidity position of the company. 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 – 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 |
03.12.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating = A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
03.12.2014 |
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 (GENERAL DETAILS)
|
Name : |
Mr. Tarun |
|
Designation : |
Chief Finance Officer |
|
Contact No.: |
91-22-45023000 |
|
Date : |
02.03.2015 |
LOCATIONS
|
Registered Office : |
Unit / Office No. 205, 2nd Floor, Windfall Building, Andheri
Kurla Road, J B Nagar, Andheri (East), Mumbai – 400059, Maharashtra, India |
|
Tel. No.: |
91-22-45023000/ 67194901/ 67194919 |
|
Fax No.: |
91-22-67194920/ 67194916 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
Gokul Arcade Building No. B, Office No. 201 / 211, Subhash Road, Near Garware Chock, Vile Parle (East), Mumbai – 400057, Maharashtra, India |
|
Tel. No.: |
91-22-67194901/ 67194919 |
|
Fax No.: |
91-22-67194920/ 67194916 |
|
|
|
|
Branch Office : |
103, Steel Center, 66 F, Ahmedabad Street, Sant Tukaram Road, Masjid (East) Mumbai – 400009, Maharashtra, India |
|
Tel. No.: |
91-22-66314800/ 66153183/ 30297541 |
|
Fax No.: |
91-22-66332141 |
|
E-Mail : |
|
|
|
|
|
Regional Office 1 : |
Plot No. 295-300, Chandkhed Road, Village: Dhamane,Near Tata Motors Limited, Taluk: Maval, District Pune – 410508, Maharashtra, India |
|
Tel. No.: |
91-22-30297541 |
|
E-Mail : |
|
|
|
|
|
Regional Office 2 : |
33, Government Industrial Estate, Khadoli, Silvassa – 396230, Dadra and Nagar Haveli (U.T.), India |
|
Tel. No.: |
91-260-3252280 |
|
|
|
|
Regional Office 3 : |
205, 75, Link Road, Lajpat Nagar No. 3, Delhi – 110024, India |
|
Tel. No.: |
91-11-29836318 |
|
|
|
|
Warehouses : |
Located at: · Kalamboli, Navi Mumbai, Maharashtra, India · Taloja, Navi Mumbai, Maharashtra, India |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Dhanesh Jayantilal Mehta |
|
Designation : |
Director |
|
Address : |
301-A, Varsha Apartment, Navyug Society, JVPD Scheme Road No.5, North South, Vile Parle
(West), Mumbai - 400056, Maharashtra, India |
|
Date of Birth/Age : |
24.10.1960 |
|
Date of Appointment : |
24.12.1999 |
|
PAN No.: |
AACPM4140R |
|
DIN No.: |
01145296 |
|
|
|
|
Name : |
Mr. Akshay Rajinderpershad Jain |
|
Designation : |
Director |
|
Address : |
101, Venus Apartments, Cuffe Parade, Mumbai - 400005, Maharashtra,
India |
|
Date of Birth/Age : |
04.03.1960 |
|
Date of Appointment : |
07.02.1996 |
|
PAN No.: |
ADAPJ4436A |
|
DIN No.: |
01145191 |
KEY EXECUTIVES
|
Name : |
Mr. Tarun |
|
Designation : |
Chief Finance Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Akshay Rajinderpershad Jain |
|
84600 |
|
Dhanesh Jayantilal Mehta |
|
66600 |
|
Dhanesh Jayantilal Mehta HUF |
|
165350 |
|
Akshay Rajinderpershad Jain HUF |
|
233450 |
|
Rajshree Akshay Jain |
|
90000 |
|
Nixita Akshay Jain |
|
120975 |
|
Arzav Akshay Jain |
|
120975 |
|
Shruti Dhanesh Mehta |
|
39350 |
|
Shailee Dhanesh Mehta |
|
39350 |
|
Shivani Dhanesh Mehta |
|
39350 |
|
Dia Vision Marketing Private Limited, India |
|
117873 |
|
Terrainx Corporate Services Private Limited, India |
|
222629 |
|
Sarla Filaments Private Limited, India |
|
45249 |
|
Fairdeal Polytex Private Limited, India |
|
45249 |
|
|
|
|
|
Total |
|
1431000 |
AS ON 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
30.12 |
|
Directors or relatives of Directors |
69.88 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader and Importer of Iron and Steel Products. |
|
|
|
|
Brand Names : |
-- |
|
|
|
|
Agencies Held : |
-- |
|
|
|
|
Exports : |
-- |
|
|
|
|
Imports : |
|
|
Products : |
Raw Materials |
|
Countries : |
· China · Ukraine · USA · Germany |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Retailers and End Users
|
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|||||||||||||||
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No. of Employees : |
50 (Approximately) |
|||||||||||||||
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|
|||||||||||||||
|
Bankers : |
·
Canara Bank Tamarind Lane Branch, 8/10 Calcot House, Fort, Mumbai – 400023,
Maharashtra, India ·
Yes Bank Limited Nehru Centre, 9th Floor, Discovery of India, Dr. A.B. Road,
Worli, Mumbai - 400018, Maharashtra, India ·
ICICI Bank Limited Landmarkrace Cource Circle, Alkapuri, Baroda - 390015, Gujarat, India · Canara Bank Tamarind Lane Branch, Crossly House, British Hotel Lane,
Fort, Mumbai - 400001, Maharashtra, India |
|||||||||||||||
|
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|
|||||||||||||||
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Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
H R Joshi and Company Chartered Accountants |
|
Address : |
Shop No 9, First Floor, Hi-Life Mall, P M Road, Santacruz (West), Mumbai - 400054, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAEPJ9204H |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives : |
·
Ark Industries Private Limited, India
[U27200MH2004PTC148690] ·
Khanna Delta Steel Private Limited, India
[U27100MH2003PTC141751] |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,500,000 |
Equity Shares |
Rs.10/- each |
Rs. 15.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
|
|
1,431,000 |
Equity Shares |
Rs.10/- each
|
Rs. 14.310
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 |
14.310 |
10.500 |
10.500 |
|
(b) Reserves & Surplus |
329.672 |
214.466 |
184.293 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
0.000 |
40.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
343.982 |
264.966 |
194.793 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
3.421 |
16.817 |
5.787 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
3.421 |
16.817 |
5.787 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
209.920 |
37.554 |
3.698 |
|
(b)
Trade payables |
621.650 |
576.330 |
438.908 |
|
(c)
Other current liabilities |
6.958 |
2.223 |
29.149 |
|
(d)
Short-term provisions |
15.561 |
9.069 |
12.592 |
|
Total
Current Liabilities (4) |
854.089 |
625.176 |
484.347 |
|
|
|
|
|
|
TOTAL |
1201.492 |
906.959 |
684.927 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
4.282 |
4.670 |
2.797 |
|
(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 |
29.204 |
29.676 |
29.342 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
21.418 |
9.513 |
15.177 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
54.904 |
43.859 |
47.316 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
373.738 |
278.280 |
241.982 |
|
(c)
Trade receivables |
640.723 |
415.017 |
242.412 |
|
(d)
Cash and cash equivalents |
67.207 |
47.005 |
62.525 |
|
(e)
Short-term loans and advances |
58.575 |
122.430 |
90.550 |
|
(f)
Other current assets |
6.345 |
0.368 |
0.142 |
|
Total
Current Assets |
1146.588 |
863.100 |
637.611 |
|
|
|
|
|
|
TOTAL |
1201.492 |
906.959 |
684.927 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
NA |
NA |
NA |
|
|
Other Income |
NA |
NA |
NA |
|
|
TOTAL
|
NA |
NA |
NA |
|
|
|
|
|
|
|
Less |
EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
Less |
TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
39.015 |
30.173 |
20.783 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
27.26 |
NA |
NA |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.62 |
0.21 |
0.05 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.34 |
1.38 |
1.32 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particulars |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
10.500 |
10.500 |
14.310 |
|
Reserves & Surplus |
184.293 |
214.466 |
329.672 |
|
Share Application money pending allotment |
0.000 |
40.000 |
0.000 |
|
Net
worth |
194.793 |
264.966 |
343.982 |
|
|
|
|
|
|
Long-term borrowings |
5.787 |
16.817 |
3.421 |
|
Short term borrowings |
3.698 |
37.554 |
209.920 |
|
Total
borrowings |
9.485 |
54.371 |
213.341 |
|
Debt/Equity ratio |
0.049 |
0.205 |
0.620 |
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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
No |
|
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 |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
Yes |
|
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 |
10407937 |
19/01/2013 |
250,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B69589919 |
|
2 |
10273838 |
02/02/2011 |
160,000,000.00 |
STANDARD CHARTERED BANK |
SME CREDIT, 23-25, M G ROAD, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B08216269 |
|
3 |
10059908 |
23/12/2013 * |
745,000,000.00 |
CANARA BANK |
TAMARIND LANE BRANCH, CROSSLY HOUSE, BRITISH HOTEL LANE, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B94292513 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
LONG-TERM
BORROWINGS |
|
|
|
Loans and advances from related parties |
2.267 |
15.116 |
|
SHORT-TERM
BORROWINGS |
|
|
|
Loans repayable on demand from banks |
149.743 |
37.554 |
|
Other loans and advances |
60.177 |
0.000 |
|
|
|
|
|
Total |
212.187 |
52.670 |
CHANGE OF ADDRESS
The Registered Office of the company has been
shifted from B-210/211, Gokul Arcade, Subhash Road, Vile Parle (East), Mumbai-400057,
Maharashtra, India to the present address.
STATE OF THE AFFAIRS
OF THE COMPANY
The Company has made a Profit of Rs.39.015 Million for the financial year ended 31st March 2014 as against a net Profit of Rs.30.173 Million for the financial year ended 31st March 2013.
FIXED ASSETS
· Furniture and fixtures
· Other equipments
· Computer equipments
· Plant and equipment
· Vehicles
· Office equipment
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. 62.37 |
|
|
1 |
Rs. 92.44 |
|
Euro |
1 |
Rs. 66.56 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
BVA |
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 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
|
45 |
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.