MIRA INFORM REPORT
|
Report No. : |
319340 |
|
Report Date : |
29.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
STOVE KRAFT PRIVATE LIMITED |
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Registered
Office : |
81/1, Medamarana Halli Village, Harohalli Hobli, Kanakapura Taluka,
Ramanagar District, Bangalore – 562112, Karnataka |
|
Tel. No.: |
91-80-2801622 |
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|
Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
28.06.1999 |
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Com. Reg. No.: |
08-025387 |
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Capital Investment
/ Paid-up Capital : |
Rs.189.001 Million |
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|
|
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CIN No.: [Company Identification
No.] |
U29301KA1999PTC025387 |
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|
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AADCS9958B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in manufacturer of pressure cookers, LPG stoves, non-stick cookware, wick stoves and trader of other kitchen and electrical appliances under the brand name, Pigeon and Gilma. |
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No. of Employees
: |
1500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1700000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
The subject is an established company having a moderate track record. The performance of company has deteriorated in past few years. It has
reported losses during FY 13 and FY 2014. The ratings further get constrained due to low market share in
industry, moderate liquidity and declining debt-protection measures. However, trade relations are fair. Business is active. Payments 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.
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 |
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Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long Term Scale – Fund Based “BB” |
|
Rating Explanation |
Inadequate credit quality and high credit risk. |
|
Date |
April 2014 |
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|
|
|
Rating Agency Name |
ICRA |
|
Rating |
Short Term Scale – Fund Based “A4” |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
April 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
|
Name : |
Mr. Rahul |
|
Designation : |
Export head |
|
Contact No.: |
91-80-28016222 |
|
Date : |
27.04.2015 |
LOCATIONS
|
Registered Office : |
81/1, Medamarana Halli Village, Harohalli Hobli, Kanakapura Taluka,
Ramanagar District, Bangalore – 562112, Karnataka, India |
|
Tel. No.: |
91-80-28016222 |
|
Fax No.: |
91-80-28016209 |
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E-Mail : |
nabonita.baruah@stovekraft.com public.relations@stovekraft.com |
|
Website : |
DIRECTORS
As on: 30.09.2014
|
Name : |
Mr. Rajendra Jugaraj Gandhi |
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Designation : |
Managing Director |
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Address : |
203, Prestige Acropolis Koramangala, |
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Date of Birth/Age : |
27.12.1967 |
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Qualification : |
S.S.L.C |
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PAN No.: |
ABLPG5270E |
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Date of Appointment : |
10.09.2007 |
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DIN No : |
01646143 |
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Other Directorship :
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Name : |
Mrs. Sunitha Rajendra Gandhi |
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Designation : |
Director |
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Address : |
203, Olympus Prestige Acropolis Koramangala, Bangalore – 560034,
Karnataka, India |
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Date of Birth/Age : |
01.08.1971 |
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PAN No.: |
ADUPG6366L |
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Date of Appointment : |
10.07.2004 |
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DIN No : |
01676100 |
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Name : |
Mr. Nikhil Kashyab Balaraman |
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Designation : |
Nominee Director |
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Address : |
New No.24, Third Main Road, Kasturba Nagar, Adyar, Chennai – 600020, Tamilnadu, India |
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Date of Birth/Age : |
09.12.1979 |
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Date of Appointment : |
03.08.2012 |
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DIN No.: |
03572994 |
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Other Directorship :
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KEY EXECUTIVES
|
Name : |
Mr. Rahul |
|
Designation : |
Export head |
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|
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|
Name : |
Mrs. Sapna Bhatia |
|
Designation : |
Secretary |
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Address : |
C-18, Suvidha Apartments, Sector-13, Rohini, New Delhi-110085, India |
|
Date of Appointment : |
16.02.2015 |
|
DIN No.: |
ANTPB7851L |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2014
|
Names of Shareholders |
No. of Shares |
Percentage |
|
Rajendra Jugaraj Gandhi |
18184622 |
96.21 |
|
Sunitha Rajendra Gandhi |
259300 |
1.37 |
|
Sequoia Capital India Growth
Investments II |
228094 |
1.21 |
|
Sequoia Capital India Growth Investments Holding - I |
228094 |
1.21 |
|
|
|
|
|
Total |
18900110 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2014
|
Category |
Percentage |
|
Venture capital |
2.41 |
|
Directors or relatives of Directors |
97.59 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in manufacturer of pressure cookers, LPG stoves, non-stick cookware, wick stoves and trader of other kitchen and electrical appliances under the brand name, Pigeon and Gilma. |
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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 : |
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Products : |
Cooker |
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Countries : |
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Imports : |
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Products : |
Finished Goods |
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Countries : |
China |
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Terms : |
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Selling : |
- |
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Purchasing : |
Depend |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Retailers
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No. of Employees : |
1500 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
Deloitte Haskins and Sells Chartered Accountants |
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Address : |
Deloitte Centre, Anchorage II, 100/2, Richmond Road, Bangalore- 560025, Karnataka, India |
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PAN No.: |
AACFD3771D |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Enterprises owned or significantly influenced by KMP or their
Relatives : |
CIN No.: U31909KA2003PTC031896
CIN No.: U29128KA2008PTC048602
|
CAPITAL STRUCTURE
As on 31.03.2014
Authorized Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
Rs.10/- each |
Rs.200.000 Million |
|
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Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
18900110 |
Equity Shares |
Rs.10/- each |
Rs.189.001 Million |
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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 |
189.001 |
189.001 |
189.001 |
|
(b) Reserves & Surplus |
407.500 |
(265.615) |
459.902 |
|
(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) |
596.501 |
(76.614) |
648.903 |
|
|
|
|
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(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
323.589 |
192.971 |
192.971 |
|
(b) Deferred tax liabilities (Net) |
33.558 |
36.847 |
0.000 |
|
(c) Other long term
liabilities |
16.772 |
19.991 |
46.225 |
|
(d) long-term
provisions |
0.000 |
0.000 |
19.573 |
|
Total Non-current
Liabilities (3) |
373.919 |
249.809 |
258.769 |
|
|
|
|
|
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(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
761.045 |
915.295 |
843.140 |
|
(b) Trade
payables |
606.354 |
823.726 |
1167.883 |
|
(c) Other
current liabilities |
187.451 |
126.473 |
204.432 |
|
(d) Short-term
provisions |
7.625 |
4.505 |
2.226 |
|
Total Current
Liabilities (4) |
1562.475 |
1869.999 |
2217.681 |
|
|
|
|
|
|
TOTAL |
2532.895 |
2043.194 |
3125.353 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
783.588 |
509.826 |
550.028 |
|
(ii)
Intangible Assets |
31.331 |
3.153 |
0.208 |
|
(iii)
Capital work-in-progress |
177.582 |
86.663 |
62.075 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
252.918 |
218.271 |
150.105 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
36.447 |
|
(d) Long-term Loan and Advances |
64.770 |
110.604 |
132.230 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
1310.189 |
928.517 |
931.093 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
430.459 |
540.428 |
1191.945 |
|
(c) Trade
receivables |
492.363 |
373.420 |
794.985 |
|
(d) Cash
and cash equivalents |
74.010 |
46.083 |
58.381 |
|
(e)
Short-term loans and advances |
223.731 |
152.785 |
148.041 |
|
(f) Other
current assets |
2.143 |
1.961 |
0.908 |
|
Total Current
Assets |
1222.706 |
1114.677 |
2194.260 |
|
|
|
|
|
|
TOTAL |
2532.895 |
2043.194 |
3125.353 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
|
3765.519 |
5884.1 |
|
|
|
Other Income |
|
|
102.8 |
|
|
|
TOTAL |
3334.241 |
3765.519 |
5986.900 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
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|
|
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Advertising Expenses |
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|
|
|
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TOTAL |
3370.065 |
4215.759 |
5822.900 |
|
|
|
|
|
|
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|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
(35.824) |
(450.240) |
|
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
152.294 |
141.410 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(188.118) |
(591.650) |
|
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
93.497 |
84.945 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX AND PROVISIONS |
0.000 |
0.000 |
164.000 |
|
|
|
|
|
|
|
|
|
|
PROVISION AND
EXCEPTIONAL ITEMS |
0.000 |
0.000 |
139.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(281.615) |
(676.595) |
24.900 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.005 |
48.922 |
14.800 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(281.620) |
(725.517) |
10.100 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
41.207 |
70.000 |
82.697 |
|
|
|
|
|
|
|
|
|
|
Earnings (loss)
Per Share (Rs.) |
(14.90) |
(38.39)
|
0.53 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
NA |
NA |
2.79 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(13.39) |
(38.92) |
5.70 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.47) |
8.83 |
0.25 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.82 |
(14.47) |
1.60 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.78 |
0.60 |
0.99 |
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 |
189.001 |
189.001 |
189.001 |
|
Reserves & Surplus |
459.902 |
(265.615) |
407.500 |
|
Net worth |
648.903 |
(76.614) |
596.501 |
|
|
|
|
|
|
long-term borrowings |
192.971 |
192.971 |
323.589 |
|
Short term borrowings |
843.140 |
915.295 |
761.045 |
|
Total borrowings |
1036.111 |
1108.266 |
1084.634 |
|
Debt/Equity ratio |
1.597 |
(14.466) |
1.818 |
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) |
|
Total Income |
5986.900 |
3765.519 |
3334.241 |
|
|
|
(37.104) |
(11.453) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Total Income |
5986.900 |
3765.519 |
3334.241 |
|
Profit/ Loss |
164.000 |
(725.517) |
(281.620) |
|
|
2.74% |
(19.27%) |
(8.45%) |
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 |
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 |
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 |
BUSINESS OVERVIEW:
The Company is a leading manufacturer of pressure cookers, LPG stoves, non-stick cookware, wick stoves and trader of other kitchen and electrical appliances under the brand name, Pigeon and Gilma.
OVERALL PERFORMANCE:
The year has the turnover & other income of the Company decreased from Rs. 3765.519 Million in previous year to Rs. 3334.241 Million for the year. The loss after tax has decreased from Rs. 725.517 Million in previous year to Rs. 281.620 Million in current year.
UNSECURED LOAN
|
Particular |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Fully convertible debentures others |
126.618 |
81.000 |
|
Loans and advances from directors |
1.971 |
1.971 |
|
Loans and advances from others |
0.000 |
110.000 |
|
Short-term
borrowings |
|
|
|
Loans repayable on demand from others |
0.553 |
16.547 |
|
|
|
|
|
Total |
129.142 |
209.518 |
INDEX OF CAHREGS:
|
S. NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10437379 |
16/12/2013 * |
240,000,000.00 |
STANDARD CHARTERED BANK |
NO.112, SERENITY,
3RD FLOOR, EAST WING, 5TH BLOCK, |
B92392059 |
|
2 |
10379321 |
10/09/2012 |
150,000,000.00 |
INDUSIND BANK LIMITED |
GROUND FLOOR, CENTENARY BUILDING, NO.28, M.G. ROAD, BANGALORE - 560001, KARNATAKA, INDIA |
B59222448 |
|
3 |
10161176 |
11/09/2014 * |
504,000,000.00 |
STATE BANK OF INDIA |
SPECIALISED MID-CORPORATE BRANCH, NO. 97, RAILWAY PARALLEL ROAD, KUMARAPARK WEST, BANGALORE - 560020, KARNATAKA, INDIA |
C25985003 |
|
4 |
10031560 |
05/01/2015 * |
450,000,000.00 |
STANDARD CHARTERED BANK |
NO.112, 'SERENITY', KORAMANGALA INDUSTRIAL AREA, 5TH BLOCK, KORAMANGALA, BANGALORE, KARNATAKA - 560095, INDIA |
C41610668 |
|
|
|
|
|
|
|
|
* Date of charge modification
FIXED ASSETS
Tangible Assets
- Land
- Buildings
- Plant and Equipment
- Factory Equipments
- Furniture and Fixtures
- Vehicles
- Office Equipment
- Computer Equipments
- Leasehold Improvements
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 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.63.33 |
|
|
1 |
Rs.96.52 |
|
Euro |
1 |
Rs.68.93 |
INFORMATION DETAILS
|
Information Gathered
by : |
KMN |
|
|
|
|
Analysis Done by
: |
SUC |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
1 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
29 |
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.