MIRA INFORM REPORT
|
Report No. : |
352235 |
|
Report Date : |
01.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
SYNDICATE WIPER SYSTEMS PRIVATE LIMITED |
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|
|
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Formerly Known
As : |
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Registered
Office : |
23 Zakaria Aghadi Estate, |
|
Tel. No.: |
91-22-29207531 |
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|
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|
Country : |
India |
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|
|
|
Financials (as
on) : |
31.03.2015 |
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|
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Date of
Incorporation : |
14.09.2007 |
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|
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Com. Reg. No.: |
11-174156 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs.13.400 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U35990MH2007PTC174156 |
|
|
|
|
IEC No.: |
0307064514 |
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|
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TAN No.: [Tax Deduction & Collection
Account No.] |
MUMS57351A |
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|
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PAN No.: [Permanent Account No.] |
AALCS2060A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufactures wiper arms and wiper blades for automobiles. (From Indirect Sources) |
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|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 360000 |
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company incorporated in the year 2007, it has satisfactory track. The company was set up to take over the business of Bombay Commercial Syndicate (BCS), which was established as a partnership firm in 1964. The ratings takes into consideration sound financial risk profile of the company marked by adequate networth base however, there has reported high reliance on external borrowings in the year 2015. Further, the company has reported significant growth in its operations along with fair profit margin. However, the rating also factors in extensive experience of its promoters in the automobile wiper industry, and the company's established relationships with major automobile original equipment manufacturers. Trade relations are fair. Business is active. Payment terms are reported to be slow but correct. In view of aforesaid, the company can be considered for business dealings with 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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 |
20.03.2015 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating= A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
20.03.2015 |
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
31-03-2015.
LOCATIONS
|
Registered/ Head Office : |
23 Zakaria Aghadi Estate, |
|
Tel. No.: |
91-22-29207531-32-33-34 |
|
Fax No.: |
91-22-29206089 |
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E-Mail : |
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|
Website : |
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|
|
|
|
Corporate Office : |
8/9, New Nandu Industrial Estate, |
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|
|
|
Factory : |
Plant 1 A-416, TTC Industrial Area, MIDC, Thane Belapur Road, Mahape, Navi
Mumbai – 400701, Maharashtra, India Tel No.:91-22-27781327/2328 Fax No.:91-22-27781740 Email : swsmahape@msn.com Plant 2 A123/124, TTC Industrial Area, MIDC, Tel No.:91-22-27687139/ 14289 Fax No.:91-22-27615770 Email : pawne@sndicatewiper.com Plant 3 8/9, New Nandu Industrial Estate, Tel No.:91-22-26870492 Fax No.:91-22-26870630 Email : andheri@syndicatewiper.com
|
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Inderjot Singh Chandhok |
|
Designation : |
Managing Director |
|
Address : |
902-A, Rushi Tower, Next Green Acre, Swami Samarth Nagar, Mumbai - 400053, Maharashtra, India |
|
Date of Birth/ Age : |
11.01.1952 |
|
Date of Appointment : |
14.09.2007 |
|
DIN No.: |
00154070 |
|
|
|
|
Name : |
Mr. Prabhjot Singh Chandhok |
|
Designation : |
Director |
|
Address : |
1801-A, Rushi Tower, Next To Green Acre, Swami Samarth Nagar, Mumbai - 400053, Maharashtra, India |
|
Date of Appointment : |
14.09.2007 |
|
DIN No.: |
00154060 |
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|
|
|
Name : |
Mr. Ravijot Singh Chandhok |
|
Designation : |
Director |
|
Address : |
1701-A, Rushi Tower, Next Green Acare, Swami Samarth Nagar, Andheri (West), Mumbai - 400053, Maharashtra, India |
|
Date of Appointment : |
14.09.2007 |
|
DIN No.: |
00154053 |
MAJOR SHAREHOLDERS
AS ON 30.09.2014
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Inderjot Singh Chandhok |
300400 |
22.42 |
|
Prabhjot Singh Chandhok |
307600 |
22.96 |
|
Ravijot Singh Chandhok |
292560 |
21.83 |
|
Shakuntala Devi Chandhok |
338160 |
25.24 |
|
Sanmeet Singh I Chandhok |
16000 |
1.19 |
|
Manmeet Kaur Chandhok |
26000 |
1.94 |
|
Satinder Kaur Chandhok |
51280 |
3.83 |
|
Hansveer Singh I Chandhok |
8000 |
0.60 |
|
|
|
|
|
Total |
1340000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufactures wiper arms and wiper blades for automobiles. (From Indirect Sources) |
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|
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Products : |
Wiper Arms and Wiper Blades for Automobiles |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
Not Available |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
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Auditors : |
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|
Name : |
Prafull M Joshi Chartered Accountants |
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Address : |
20, Mahavir Mansion, 70, Trinity Street, Opposite 1st Dhobhi Talao, Mumbai, Maharashtra, India |
|
Tel No.: |
91-22-22061692 |
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Fax No.: |
91-22-22031219 |
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PAN No.: |
AAAPJ5283E |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates : |
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CAPITAL STRUCTURE
AS ON 31.03.2015
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1500000 |
Equity Shares |
Rs.10/- each |
Rs.15.000 Million |
|
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Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1340000 |
Equity Shares |
Rs.10/- each |
Rs.13.400 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
13.400 |
13.400 |
13.400 |
|
(b) Reserves & Surplus |
112.068 |
99.072 |
86.499 |
|
(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) |
125.468 |
112.472 |
99.899 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
138.059 |
64.808 |
89.767 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
1.600 |
1.600 |
1.600 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
139.659 |
66.408 |
91.367 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
130.795 |
113.551 |
67.026 |
|
(b) Trade
payables |
148.801 |
148.724 |
241.643 |
|
(c) Other
current liabilities |
34.348 |
27.125 |
29.484 |
|
(d) Short-term
provisions |
6.490 |
6.083 |
6.146 |
|
Total Current
Liabilities (4) |
320.434 |
295.483 |
344.299 |
|
|
|
|
|
|
TOTAL |
585.561 |
474.363 |
535.565 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
160.201 |
155.957 |
145.099 |
|
(ii)
Intangible Assets |
0.794 |
0.267 |
0.612 |
|
(iii)
Capital work-in-progress |
46.799 |
46.798 |
46.799 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.010 |
0.010 |
0.010 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
12.370 |
14.081 |
10.900 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
220.174 |
217.113 |
203.420 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
127.346 |
117.516 |
129.577 |
|
(c) Trade
receivables |
177.833 |
89.868 |
123.972 |
|
(d) Cash
and cash equivalents |
22.753 |
8.851 |
36.098 |
|
(e)
Short-term loans and advances |
37.455 |
41.015 |
42.498 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
365.387 |
257.250 |
332.145 |
|
|
|
|
|
|
TOTAL |
585.561 |
474.363 |
535.565 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1034.890 |
987.896 |
|
|
|
|
Other Income |
0.742 |
0.973 |
|
|
|
|
TOTAL (A) |
1035.632 |
988.869 |
1044.692 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
641.426 |
649.220 |
|
|
|
|
Changes in Inventories of finished goods, work-in-progress and
stock-in-trade |
22.479 |
(21.601) |
|
|
|
|
Employee Benefits Expenses |
142.905 |
110.542 |
|
|
|
|
Other Expenses |
162.612 |
179.325 |
|
|
|
|
TOTAL (B) |
969.422 |
917.486 |
1003.642 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
66.210 |
71.383 |
[Including
Financial] |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
23.123 |
27.258 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
43.087 |
44.125 |
41.050 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/ AMORTISATION (F) |
23.582 |
25.454 |
22.105 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
19.505 |
18.671 |
18.945 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
6.509 |
6.098 |
6.281 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
12.996 |
12.573 |
12.664 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
9.70 |
9.38 |
-- |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
7.744 |
0.000 |
0.000 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flow from (used in) operations |
19.505 |
18.670 |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin PAT / Sales |
(%) |
1.26 |
1.27 |
NA |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
6.40 |
7.23 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets) |
(%) |
3.62 |
4.37 |
3.88 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16 |
0.17 |
0.19 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.20 |
1.59 |
1.57 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.14 |
0.87 |
0.96 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Share Capital |
13.400 |
13.400 |
13.400 |
|
Reserves & Surplus |
86.499 |
99.072 |
112.068 |
|
Net
worth |
99.899 |
112.472 |
125.468 |
|
|
|
|
|
|
long-term borrowings |
89.767 |
64.808 |
138.059 |
|
Short term borrowings |
67.026 |
113.551 |
130.795 |
|
Current Maturities of Long term debt |
0.000 |
0.000 |
7.744 |
|
Total
borrowings |
156.793 |
178.359 |
276.598 |
|
Debt/Equity
ratio |
1.570 |
1.586 |
2.205 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Total Income |
1044.692 |
988.869 |
1035.632 |
|
|
|
(5.343) |
4.729 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Total Income |
1044.692 |
988.869 |
1035.632 |
|
Profit |
12.664 |
12.573 |
12.996 |
|
|
1.21% |
1.27% |
1.25% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOANS:
|
Particulars |
31.03.2015 Rs.
In Million |
31.03.2014 Rs.
In Million |
|
Long Term Borrowings |
|
|
|
Loans and advances from directors |
127.823 |
28.900 |
|
Loans and advances from others |
0.000 |
17.000 |
|
|
|
|
|
Total |
127.823 |
45.900 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10443520 |
01/10/2012 |
20,000,000.00 |
ORIENTAL BANK OF COMMERCE |
LAMINGTON
ROAD,, GRAND ROAD, MUMBAI, MAHARASHTRA |
B70184155 |
|
2 |
10441839 |
01/10/2012 |
40,000,000.00 |
ORIENTAL BANK OF COMMERCE |
LAMINGTON
ROAD,, GRAND ROAD, MUMBAI, MAHARASHTRA |
B70187455 |
|
3 |
10395820 |
10/02/2012 |
50,000,000.00 |
ORIENTAL BANK OF COMMERCE |
LAMINGTON ROAD BRANCH, 393 SIR MANGALDAS HOUSE, MUMBAI, MUMBAI, MAHARASHTRA - 400004, INDIA |
B45001625 |
|
4 |
10255598 |
29/11/2010 |
138,200,000.00 |
ORIENTAL BANK OF COMMERCE |
LAMINGTON ROAD BRANCH, 393 SIR MANGALDAS HOUSE, MUMBAI, MAHARASHTRA - 400004, INDIA |
A99418527 |
|
5 |
10255600 |
01/11/2010 |
18,000,000.00 |
ORIENTAL BANK OF COMMERCE |
LAMINGTON ROAD BRANCH, 393 SIR MANGALDAS HOUSE, MUMBAI, MAHARASHTRA - 400004, INDIA |
A99419889 |
|
6 |
10294591 |
23/01/2010 |
1,500,000.00 |
ORIENTAL BANK OF COMMERCE LIMITED |
LAMINGTON ROAD BRANCH, 393 SIR MANGALDAS HOUSE, LAMINGTON ROAD, MUMBAI, MUMBAI, MAHARASHTRA - 400004, INDIA |
A85264752 |
|
7 |
10096196 |
21/02/2011 * |
143,065,000.00 |
ORIENTAL BANK OF COMMERCE |
LAMINGTON
ROAD BRANCH, 393 SIR MANGALDAS HOUSE,, |
B07981178 |
|
8 |
10096195 |
22/07/2014 * |
102,500,000.00 |
ORIENTAL BANK OF COMMERCE |
LAMINGTON
ROAD,, GRANT ROAD, MUMBAI, MAHARASHTRA |
C18952978 |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixture
·
Office Equipment
·
Computer
·
Vehicles
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.66.81 |
|
|
1 |
Rs.100.37 |
|
Euro |
1 |
Rs.70.68 |
INFORMATION DETAILS
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
|
49 |
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.