MIRA INFORM REPORT
|
Report No. : |
318048 |
|
Report Date : |
20.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
CG-ZIV POWER AUTOMATION SOLUTIONS LIMITED |
|
|
|
|
Registered
Office : |
6th Floor, CG House, Dr. Annie Besant Road, Worli, Mumbai –
400030, Mahrashtra |
|
Tel No.: |
91-22-24237806 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
04.11.2010 |
|
|
|
|
Com. Reg. No.: |
11-209840 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 100.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31900MH2010PLC209840 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMC18127E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECC1977D |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacture of panels and relays predominantly sold in India. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of Crompton Greaves LTD It is an established company having moderate track record. The rating is constrained on account
of huge accumulated losses incurred by the company. However, trade relations are reported as fair. Business is active.
Payments terms are reported to be slow
but correct. In view of strong holding company, the company can be considered for
business dealing 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.
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 |
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 DENIED BY
|
Name : |
Mr. Jignesh Parikh |
|
Designation : |
Finance Controller |
|
Date : |
18.04.2015 |
LOCATIONS
|
Registered Office : |
6th Floor, CG House, Dr. Annie Besant Road, Worli, Mumbai –
400030, Mahrashtra, India |
|
Tel. No.: |
91-22-24237806 |
|
Fax No.: |
91-22-24237733 |
|
E-Mail : |
|
|
|
|
|
Factory : |
Global Village, Tech Park, Block A, Ground Floor, RVCE Post,
Mylasandra, Bangalore – 560059, Karnataka, India |
|
Location : |
Rented |
DIRECTORS
AS ON 05.08.2014
|
Name : |
Sushant D Arora |
|
Designation : |
Director |
|
Address : |
Flat No. 6, Alankar Building, Behind Don Bosco High School, Matunga,
Mumbai – 400019, Maharashtra, India |
|
Date of Birth/Age : |
15.04.1966 |
|
Date of Appointment : |
01.11.2013 |
|
DIN No.: |
06736785
|
|
|
|
|
Name : |
Henriques A. Wilton |
|
Designation : |
Director |
|
Address : |
Silvan Mansion, L.J. Cross Road No. 2, Mahim, Mumbai – 400016,
Mahrashtra, India |
|
Date of Birth/Age : |
18.10.1955 |
|
Date of Appointment : |
16.11.2010 |
|
DIN No.: |
00059817
|
|
Voter ID No.: |
MT/06/34/1181513 |
|
|
|
|
Name : |
Jayantkumar G. Kulkarni |
|
Designation : |
Director |
|
Address : |
2 Datta Kunj, Anand Nagar, Gangapur, Nashik – 422005, Maharashtra,
India |
|
Date of Birth/Age : |
27.10.1954 |
|
Date of Appointment : |
16.11.2010 |
|
DIN No.: |
00348942
|
|
|
|
|
Name : |
Coca Covadonga |
|
Designation : |
Director |
|
Address : |
C Independentzia 70 B Spain 48940 |
|
Date of Birth/Age : |
09.11.1960 |
|
Date of Appointment : |
16.11.2010 |
|
DIN No.: |
03265604
|
|
|
|
|
Name : |
Kelly Martin |
|
Designation : |
Director |
|
Address : |
Illan House, Castle Dillon, Straffan Country, Kidare |
|
Date of Birth/Age : |
30.12.1960 |
|
Date of Appointment : |
16.11.2010 |
|
DIN No.: |
03510291
|
|
|
|
|
Name : |
Dileep Sahebrao Patil |
|
Designation : |
Director |
|
Address : |
A 101, Twin Towers, Bombay Dyeing Compound, Prabhadevi, Mumbai –
400025, Maharashtra, India |
|
Date of Birth/Age : |
23.02.1956 |
|
Date of Appointment : |
16.11.2010 |
|
DIN No.: |
01084988
|
|
|
|
|
Name : |
Norberto Santiago |
|
Designation : |
Director |
|
Address : |
C Maria Diaz DE Haro 255511, Bilbao, Spain 48013 |
|
Date of Birth/Age : |
05.09.1950 |
|
Date of Appointment: |
16.11.2010 |
|
DIN No.: |
03266565
|
KEY EXECUTIVES
|
Name : |
Jignesh Ashok Parikh |
|
Designation : |
Secretary |
|
Address : |
B 13 Chandralok J S Road, Dahisar (West), Mumbai – 400068,
Maharashtra, India |
|
Date of Birth/Age : |
14.07.1984 |
|
Date of Appointment : |
16.11.2010 |
|
|
|
|
Name : |
Hampesh Matad Hampaiah |
|
Designation : |
Manager |
|
Address : |
No. 15, Sadhyojathakhb Colony, Bangalore – 560079, Karnataka, India |
|
Date of Birth/Age : |
12.05.1971 |
|
Date of Appointment : |
09.06.2011 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 05.08.2014
|
Names of Shareholders |
|
No. of Shares |
|
Cromption Greaves Limited |
|
9999994 |
|
Arora Sushant |
|
1 |
|
Acharya K. Madhav |
|
1 |
|
Singh Dinesh |
|
1 |
|
Kulkarni G. Jayantkumar |
|
1 |
|
Bhosale Amit Minal |
|
1 |
|
Viswanath Narayan |
|
1 |
|
|
|
|
|
Total |
|
10000000 |
AS ON 05.08.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacture of panels and relays predominantly sold in
India. |
|
|
|
|
Products : |
Not Available |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Available |
|
|
|
|
Imports : |
Not Available |
|
|
|
|
Terms : |
|
|
Selling : |
Not Available |
|
|
|
|
Purchasing : |
Not Available |
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||
|
|
|
||||||||||||
|
Customers : |
|
||||||||||||
|
|
|
||||||||||||
|
No. of Employees : |
Not Available |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
Not Available |
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Sharp and Tannan Chartered Accountants |
|
Address : |
Ravindra Annexe, 194 Churchgate Reclamation Dinshaw Vachha Road,
Mumbai – 400020, Maharashtra, India |
|
PAN No.: |
AAAFS2967E |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding company : |
|
CAPITAL STRUCTURE
AS ON 05.08.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
15000000 |
Equity Shares |
Rs. 10/- each |
Rs. 150.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000000 |
Equity Shares |
Rs. 10/-
each |
Rs. 100.000
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 |
100.000 |
100.000 |
100.000 |
|
(b) Reserves & Surplus |
(112.038) |
(26.995) |
(16.447) |
|
(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) |
(12.038) |
73.005 |
83.553 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
1.729 |
1.630 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
4.929 |
1.858 |
0.223 |
|
Total Non-current
Liabilities (3) |
6.658 |
3.488 |
0.223 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short
term borrowings |
35.000 |
35.000 |
41.023 |
|
(b) Trade
payables |
189.716 |
88.161 |
79.595 |
|
(c) Other
current liabilities |
35.825 |
76.052 |
0.048 |
|
(d) Short-term
provisions |
0.186 |
0.042 |
0.000 |
|
Total Current
Liabilities (4) |
260.727 |
199.255 |
120.666 |
|
|
|
|
|
|
TOTAL |
255.347 |
275.748 |
204.442 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
59.058 |
14.554 |
0.000 |
|
(ii)
Intangible Assets |
0.851 |
1.072 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
47.022 |
41.835 |
|
(iv)
Intangible assets under development |
50.004 |
115.247 |
105.711 |
|
(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 |
0.464 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
109.913 |
177.895 |
148.010 |
|
|
|
|
|
|
(2) Current
assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
55.531 |
52.957 |
39.017 |
|
(c) Trade
receivables |
28.038 |
33.274 |
4.760 |
|
(d) Cash
and cash equivalents |
6.934 |
3.468 |
2.533 |
|
(e) Short-term
loans and advances |
54.931 |
8.154 |
10.122 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
145.434 |
97.853 |
56.432 |
|
|
|
|
|
|
TOTAL |
255.347 |
275.748 |
204.442 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
136.156 |
96.513 |
9.031 |
|
|
|
Other Income |
0.000 |
0.000 |
1.531 |
|
|
|
TOTAL (A) |
136.156 |
96.513 |
10.562 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
129.370 |
49.898 |
31.840 |
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(1.401) |
20.467 |
(23.007) |
|
|
|
Employees benefits expense |
27.135 |
15.883 |
7.314 |
|
|
|
Other expenses |
56.345 |
17.077 |
8.784 |
|
|
|
TOTAL (B) |
211.449 |
103.325 |
24.931 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
(75.293) |
(6.812) |
(14.369) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
4.620 |
1.222 |
0.471 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(79.913) |
(8.034) |
(14.840) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
5.030 |
0.884 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
(84.943) |
(8.918) |
(14.840) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.099 |
1.629 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
(85.042) |
(10.547) |
(14.840) |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
83.422 |
51.998 |
28.826 |
|
|
|
Capital Goods |
0.000 |
0.666 |
6.584 |
|
|
TOTAL IMPORTS |
83.422 |
52.664 |
35.410 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(9.00) |
(1.00) |
(1.48) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Net Profit Margin PAT / Sales |
(%) |
(62.45)
|
(10.92) |
(164.32) |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
(55.30)
|
(7.06) |
(159.10) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(41.37) |
(7.86) |
(26.08) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
7.06 |
(0.12) |
(0.18) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debts/Networth) |
|
(2.91) |
0.48 |
0.49 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.56 |
0.49 |
0.47 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
100.000 |
100.000 |
100.000 |
|
Reserves & Surplus |
(16.447) |
(26.995) |
(112.038) |
|
Net worth |
83.553 |
73.005 |
(12.038) |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
41.023 |
35.000 |
35.000 |
|
Total
borrowings |
41.023 |
35.000 |
35.000 |
|
Debt/Equity
ratio |
0.491 |
0.479 |
-2.907 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
9.031 |
96.513 |
136.156 |
|
|
|
968.686 |
41.075 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
9.031 |
96.513 |
136.156 |
|
Profit |
(14.840) |
(10.547) |
(85.042) |
|
|
(164.32%) |
(10.93%) |
(62.46%) |
LOCAL AGENCY FURTHER INFORMATION
NOTE: CURRENT MATURITY LONG TERM DEBT DETAILS ARE NOT AVAILABLE.
|
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 |
No |
|
10] |
Designation of contact
person |
No |
|
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 |
No |
|
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 |
AMALGAMATION
The Company is a wholly owned subsidiary of Crompton Greaves Limited (CG). For simplification of the shareholding structure and operational synergies, the Board of Directors at their Meeting held on 28 th January 2014, approved the amalgamation of the Company with CG. The Amalgamation would be effective upon receipt of requisite approvals.
INDEX OF CHARGES
NO CHARGES EXIST FOR THE COMPANY.
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
SHORT TERM BORROWINGS |
|
|
|
Loans and advance from others |
35.000 |
35.000 |
|
|
|
|
|
Total |
35.000 |
35.000 |
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. 62.35 |
|
|
1 |
Rs. 93.10 |
|
Euro |
1 |
Rs. 67.13 |
INFORMATION DETAILS
|
Information Gathered
by : |
PPT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
JYO |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
27 |
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.