MIRA INFORM REPORT
|
Report No. : |
318207 |
|
Report Date : |
22.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
ASHAPURA INTERNATIONAL LIMITED |
|
|
|
|
Registered
Office : |
Jeevan Udyog Building, 3rd Floor, 278 – D N Road, Fort,
Mumbai – 400001, Maharashtra |
|
Tel. No.: |
91-22-66651700 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
18.12.1989 |
|
|
|
|
Com. Reg. No.: |
11-054664 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 30.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U14108MH1989PLC054664 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Available |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
|
Line of Business
: |
Subject is enganged in the mining of betntonite lumps and processing
it into powered betntonite. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
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 |
|
|
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|
Litigation : |
Clear |
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|
|
Comments : |
Subject is a wholly owned subsidiary of "ASHAPURA MINECHEM LIMITED". It is well-established company having satisfactory track record. Rating takes into consideration the comfortable capital structure and healthy coverage indicators of AIL and the improvement in operating and net profit margins in 2013-14. Rating also takes into consideration strong financial and managerial support from its parent company and long standing experience of the promoters in the bentonite mining and production industry. Trade relations are fair. Payments are reported to be usually correct. In view of strong holding company support backed by
experienced promoters, the company can be considered good for normal 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 |
Proposed Term Loan: BB+ |
|
Rating Explanation |
Inadequate credit quality and high credit risk. |
|
Date |
September 2014 |
|
Rating Agency Name |
ICRA |
|
Rating |
Non-fund based limits: A4+ |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
September 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. jitender |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-22-66651700 |
|
Date : |
20.04.2015 |
LOCATIONS
|
Registered/ Corporate Office : |
Jeevan Udyog Building, 3rd Floor, 278 – D N Road, Fort,
Mumbai – 400001, Maharashtra, India |
|
Tel. No.: |
91-22-66651700 |
|
Fax No.: |
91-22-22079395/ 22074452 |
|
E-Mail : |
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|
Website : |
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|
|
|
|
Indian Locations
Offices: |
Located at:
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|
|
|
|
Overseas Offices: |
Located at:
|
DIRECTORS
As on 24.09.2014
|
Name : |
Mr. Navnitlal Ratanji Shah |
|
Designation : |
Director |
|
Address : |
M-3, N-4, The Loyal CHSL, Eden Hall, Dr. Annie Besant Road, Worli,
Mumbai-400018, Maharashtra, India |
|
Date of Birth/Age : |
17.08.1926 |
|
Date of Appointment : |
18.12.1989 |
|
DIN No.: |
00018945 |
|
PAN No.: |
AABPS0171R |
|
Name : |
Mr. Hemul Ramesh Shah |
|
Designation : |
Director |
|
Address : |
302/303, Rahul Enclave, A-Wing, Saibaba Nagar, Near M.L.G Garden, Borivali
(West), Mumbai-400 092, Maharashtra, India |
|
Date of Birth/Age : |
04.01.1961 |
|
Date of Appointment : |
15.05.2009 |
|
DIN No.: |
00058558 |
|
Name : |
Mr. Chetan Navnitlal Shah |
|
Designation : |
Director |
|
Address : |
Wyoming Co-operative Housing Society Limited, 4th Floor,
Flat No. 4, 12 A, Little Gibbs Road, Malabar Hill, Mumbai- 400 006,
Maharashtra, India |
|
Date of Birth/Age : |
28.01.1955 |
|
Date of Appointment : |
02.11.2009 |
|
DIN No.: |
00018960 |
|
PAN No.: |
AAMPS4798R |
|
Name : |
Mr. Ashok Manilal Kadakia |
|
Designation : |
Director |
|
Address : |
211, Grand parade, Kemps Corner, Mumbai – 400036, Maharashtra, India |
|
Date of Birth/Age : |
07.06.1942 |
|
Date of Appointment : |
11.02.2013 |
|
DIN No.: |
00317237 |
KEY EXECUTIVES
|
Name : |
Mr. Dwarkadas Kapadia |
|
Designation : |
Secretary |
|
Address : |
701, Gopalpuri, 7th Floor, S V Road, Borvali (East), Mumbai
– 400066, Maharashtra, India |
|
Date of Birth/Age : |
31.10.1933 |
|
Date of Appointment : |
01.07.2002 |
|
PAN No.: |
AAPPK4676B |
|
|
|
|
Name : |
Mr. jitender |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 24.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Ashapura Minechem Limited, India |
|
2999980 |
|
Chetan Shah |
|
10 |
|
Dina Shah |
|
2 |
|
Hemul Shah |
|
2 |
|
Chaitali Shah |
|
2 |
|
Rajnikant Pajwani |
|
2 |
|
Manan Shah |
|
2 |
|
Total |
|
3000000 |
Equity Share Break up (Percentage of Total Equity)
As on 24.09.2014
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is enganged in the mining of betntonite lumps and processing
it into powered betntonite. |
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Products : |
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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 : |
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Banking
Relations : |
-- |
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|
|
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Auditors : |
|
|
Name : |
Sanghavi and Company Chartered Accountants |
|
Address : |
Bulbul, First Floor, Crescent Road, Bhavnagar – 364001, Gujarat, India
|
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAQFS2682A |
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Memberships : |
-- |
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|
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Collaborators : |
-- |
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Holding Company: |
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Fellow subsidiary: |
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Associates: |
|
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000
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 |
30.000 |
30.000 |
30.000 |
|
(b) Reserves & Surplus |
271.676 |
225.595 |
192.947 |
|
(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) |
301.676 |
255.595 |
222.947 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
30.701 |
2.039 |
|
(b) Deferred tax liabilities
(Net) |
20.360 |
2.562 |
0.648 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
18.393 |
9.748 |
9.327 |
|
Total
Non-current Liabilities (3) |
38.753 |
43.011 |
12.014 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
173.080 |
156.995 |
175.741 |
|
(b) Trade payables |
669.044 |
479.150 |
494.465 |
|
(c) Other current liabilities |
83.255 |
135.861 |
25.561 |
|
(d) Short-term provisions |
2.771 |
2.329 |
1.642 |
|
Total
Current Liabilities (4) |
928.150 |
774.335 |
697.409 |
|
|
|
|
|
|
TOTAL |
1268.579 |
1072.941 |
932.370 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
390.664 |
133.993 |
72.683 |
|
(ii) Intangible Assets |
0.814 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
73.492 |
39.965 |
|
(b) Non-current Investments |
0.086 |
0.086 |
0.086 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
37.624 |
34.226 |
29.949 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
429.188 |
241.797 |
142.683 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
317.637 |
336.163 |
306.490 |
|
(c) Trade receivables |
359.454 |
366.608 |
370.430 |
|
(d) Cash and cash equivalents |
51.393 |
33.839 |
25.801 |
|
(e) Short-term loans and
advances |
110.907 |
94.534 |
86.966 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
839.391 |
831.144 |
789.687 |
|
|
|
|
|
|
TOTAL |
1268.579 |
1072.941 |
932.370 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
2106.008 |
2268.477 |
1558.116 |
|
|
Other Income |
9.282 |
4.896 |
6.403 |
|
|
TOTAL
(A) |
2115.290 |
2273.373 |
1564.519 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
307.467 |
344.302 |
325.620 |
|
|
Purchases of Stock-in-Trade |
530.329 |
747.485 |
484.120 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
42.986 |
(31.516) |
(145.298) |
|
|
Employees benefits expense |
133.668 |
100.178 |
80.548 |
|
|
Other expenses |
987.134 |
1019.912 |
715.379 |
|
|
Prior Period Items |
0.000 |
0.175 |
0.000 |
|
|
TOTAL
(B) |
2001.584 |
2180.536 |
1460.369 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
113.706 |
92.837 |
104.150 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
28.618 |
34.246 |
27.539 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
85.088 |
58.591 |
76.611 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
18.347 |
9.493 |
3.682 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
66.741 |
49.098 |
72.929 |
|
|
|
|
|
|
|
Less |
TAX (H) |
20.660 |
16.450 |
24.604 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
46.081 |
32.648 |
48.325 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
15.36 |
10.88 |
16.11 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
2.19 |
1.44 |
3.10 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
5.40 |
4.09 |
6.68 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.26 |
4.91 |
8.17 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.22 |
0.19 |
0.33 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.57 |
0.73 |
0.80 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.90 |
1.07 |
1.13 |
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 |
30.000 |
30.000 |
30.000 |
|
Reserves & Surplus |
192.947 |
225.595 |
271.676 |
|
Net
worth |
222.947 |
255.595 |
301.676 |
|
|
|
|
|
|
long-term borrowings |
2.039 |
30.701 |
0.000 |
|
Short term borrowings |
175.741 |
156.995 |
173.080 |
|
Total
borrowings |
177.780 |
187.696 |
173.080 |
|
Debt/Equity
ratio |
0.797 |
0.734 |
0.574 |
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 |
1558.116 |
2268.477 |
2106.008 |
|
|
|
45.591 |
-7.162 |
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 |
1558.116 |
2268.477 |
2106.008 |
|
Profit |
48.325 |
32.648 |
46.081 |
|
|
3.10% |
1.44% |
2.19% |
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term Borrowings |
|
|
|
Loans and advances from related parties |
0.000 |
30.000 |
|
|
|
|
|
Total |
0.000 |
30.000 |
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10021905 |
30/03/2010 * |
200,000,000.00 |
BANK OF INDIA |
MUMBAI OVERSEAS
BRANCH ,BANK OF INDIA BUILDING,, |
A82394024 |
|
2 |
10013346 |
10/03/2010 * |
200,000,000.00 |
BANK OF INDIA |
MUMBAI OVERSEAS
BRANCH ,BANK OF INDIA BUILDING,, |
A82393661 |
|
3 |
10013448 |
26/07/2006 |
53,200,000.00 |
BANK OF INDIA |
MUMBAI OVERSEAS
BRANCH,BANK OF INDIA BUILDING,, M |
A03211711 |
|
4 |
80019099 |
06/02/2004 |
7,500,000.00 |
BANK OF INDIA |
OVERSEAS BRANCH, MUMBAI,
MAHARASHTRA - 400021, IND |
- |
|
5 |
80019098 |
29/10/1999 |
49,000,000.00 |
BANK OF INDIA |
OVERSEAS BRANCH,
MUMBAI, MAHARASHTRA - 400021, IND |
- |
* Date of charge modification
FIXED ASSETS
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Other equipments
Intangible assets
- Computer software
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 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.62.92 |
|
|
1 |
Rs.93.57 |
|
Euro |
1 |
Rs.67.34 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
KVT |
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.