MIRA INFORM REPORT
|
Report No. : |
353133 |
|
Report Date : |
10.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
DANIEL MEASUREMENT SOLUTIONS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
3rd Floor, 301/303, Synergy Square, Krishna Industrial Estate, Gorwa, Vadodara-390016, Gujarat |
|
Tel. No.: |
91-265-6633000 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
07.02.2007 |
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|
|
|
Com. Reg. No.: |
04-049905 |
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|
|
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Capital
Investment / Paid-up Capital : |
Rs. 0.200 Million |
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|
|
|
CIN No.: [Company Identification
No.] |
U40200GJ2007PTC049905 |
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|
|
|
IEC No.: |
Not Applicable (Note:- As claimed by company management chat company
does not export and import) |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BRDD01627D |
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|
|
|
PAN No.: [Permanent Account No.] |
AACCD5920F |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Subject is engaged business of
manufacturing natural gas and liquid flow measurement products and
engineering and metering systems. (Registered Activity) |
|
|
|
|
No. of Employees
: |
Information declined by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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|
|
|
Payment Behaviour : |
Usually correct |
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|
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Litigation : |
Clear |
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|
Comments : |
Subject is an established company incorporated in the 2007 it is a subsidiary
of “Spektra Tek” U.K. and it is having satisfactory track record. The rating reflects on the company’s extensive promoters in
manufacturing packaging equipment and the established track record in the
packaging industry. The ratings also factor in company’s above-average financial risk
profile, marked by low gearing and healthy debt protection metrics. This rating strength is partially offset by large working capital
requirements, and foreign exchange flocculation risk. Trade relations are reported as fair. Business is active. Payments are
reported to be usually correct. In view of strong financial and managerial holding support, 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
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.
INFORMATION DENIED BY
|
Name : |
Ms. Kinjal Shah |
|
Designation : |
Account Head |
|
Contact No.: |
91-265-663300 |
|
Date : |
07.12.2015 |
LOCATIONS
|
Registered Office : |
3rd Floor, 301/303, Synergy Square, Krishna Industrial Estate, Gorwa, Vadodara-390016, Gujarat, India |
|
Tel. No.: |
91-265-6633000 |
|
Fax No.: |
91-265-6633100 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
Plot No.299-300, GIDC, Makarpura, Vadodara-390 010, |
|
Tel. No.: |
91-265-3041100 |
|
Fax No.: |
91-265-3041111 |
DIRECTORS
As on: 29.09.2014
|
Name : |
Mr. Rajesh Vinodrai Shah |
|
Designation : |
Director |
|
Address : |
C-202, Arihant Govind Nagar, Sodawala Lane, Borivli (West), Mumbai-400092, Maharashtra, India |
|
Date of Birth/Age : |
09.12.1966 |
|
Date of Appointment : |
01.10.2013 |
|
DIN; |
00738267 |
|
|
|
|
Name : |
Mr. Pradipta T. Sen |
|
Designation : |
Director |
|
Address : |
304, Tower-2, Palms, South City-1, Gurgaon – 122001, Haryana, India |
|
Date of Birth/Age : |
07.10.1958 |
|
Date of Appointment : |
07.02.2007 |
|
DIN; |
00051758 |
|
|
|
|
Name : |
Mr. Robin Carol Palmer |
|
Designation : |
Director |
|
Address : |
6226, Linton,Houston Tx, 77008, United States of America |
|
Date of Birth/Age : |
06.03.1955 |
|
Date of Appointment : |
05.10.2007 |
|
DIN; |
01833174 |
|
|
|
|
Name : |
Mr. Laxmikant Ranganathan Iyengar |
|
Designation : |
Director |
|
Address : |
Rosa Villa, 247/A FR Peter Pereira Road, Kurla (West), Mumbai-400070, Maharashtra, India |
|
Date of Birth/Age : |
09.11.1969 |
|
Date of Appointment : |
24.11.2014 |
|
DIN; |
05309137 |
|
|
|
|
Name : |
Keven Barry Dunphy |
|
Designation : |
Director |
|
Address : |
7070 Winchester Cir, Boulder CO, Boulder, 80301, , United States of America |
|
Date of Birth/Age : |
17.07.1967 |
|
Date of Appointment : |
10.09.2013 |
|
DIN; |
06682166 |
KEY EXECUTIVES
|
Name : |
Ms. Kinjal Shah |
|
Designation : |
Account Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on” 29.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Spctra- Tek UK Limited, |
|
20000 |
|
Pradipta T. Sen |
|
10 |
|
Total |
|
20010 |
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged business of
manufacturing natural gas and liquid flow measurement products and
engineering and metering systems. (Registered Activity) |
|
|
|
|
Products : |
- |
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|
|
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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 |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by management |
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Bankers : |
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Auditors : |
|
|
Name : |
B S R and Company Chartered Accountants |
|
Address : |
Lodha Excelus, 1st Floor, Apollo Mills Compound, N. M. Joshi Marg,
Mahalakshmi, Mumbai – 400011, Maharashtra, India |
|
Tel. No.: |
91-22-39896000 |
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FAX No.: |
91-22-30902511 |
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PAN No.: |
AAKFB4397F |
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E-Mail : |
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|
|
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Memberships : |
-- |
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|
|
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Collaborators : |
-- |
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Holding 100% Equity Share capital as at the yearend : |
Spectra Tek |
|
|
|
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Holding Company of STUK : |
Daniel Europe Limited (DEL) |
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|
|
|
Holding Company of DEL: |
Daniel International Limited (DIL) |
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|
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|
Holding Company of DIL: |
Daniel Industries, Inc. (DII) |
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|
|
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Ultimate Holding Company of DII: |
Emerson Electric Company (EEC) |
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Associates/Subsidiaries : |
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CAPITAL STRUCTURE
As on: 29.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 10.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20,010 |
Equity Shares |
Rs.10/- each |
Rs. 0.200 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 |
0.200 |
0.200 |
0.200 |
|
(b) Reserves & Surplus |
446.699 |
406.764 |
353.838 |
|
(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) |
446.899 |
406.964 |
354.038 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
8.581 |
10.162 |
9.848 |
|
(d) long-term
provisions |
1.874 |
1.299 |
0.000 |
|
Total Non-current
Liabilities (3) |
10.455 |
11.461 |
9.848 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
30.113 |
0.000 |
71.204 |
|
(b) Trade
payables |
133.245 |
129.062 |
134.886 |
|
(c) Other
current liabilities |
36.931 |
56.636 |
41.678 |
|
(d) Short-term
provisions |
11.217 |
16.574 |
26.728 |
|
Total Current
Liabilities (4) |
211.506 |
202.272 |
274.496 |
|
|
|
|
|
|
TOTAL |
668.860 |
620.697 |
638.382 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
29.421 |
36.405 |
14.147 |
|
(ii)
Intangible Assets |
2.151 |
1.753 |
0.899 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
16.550 |
11.042 |
9.809 |
|
(d) Long-term Loan and Advances |
79.395 |
55.541 |
31.249 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
127.517 |
104.741 |
56.104 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
190.693 |
154.391 |
158.803 |
|
(c) Trade
receivables |
195.125 |
179.433 |
221.334 |
|
(d) Cash
and cash equivalents |
38.661 |
86.565 |
133.248 |
|
(e) Short-term
loans and advances |
115.952 |
94.147 |
67.140 |
|
(f) Other
current assets |
0.912 |
1.420 |
1.753 |
|
Total
Current Assets |
541.343 |
515.956 |
582.278 |
|
|
|
|
|
|
TOTAL |
668.860 |
620.697 |
638.382 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
870.356 |
835.050 |
1011.039 |
|
|
|
Other Income |
5.415 |
10.267 |
|
|
|
|
TOTAL (A) |
875.771 |
845.317 |
1011.039 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
560.664 |
513.617 |
649.926 |
|
|
|
Employees benefits expense |
91.240 |
86.332 |
83.044 |
|
|
|
Other expenses |
152.139 |
159.274 |
193.861 |
|
|
|
TOTAL (B) |
804.043 |
759.223 |
926.831 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
71.728 |
86.094 |
84.208 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.476 |
0.767 |
0.332 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND
AMORTISATION (C-D) (E) |
71.252 |
85.327 |
83.876 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
9.375 |
6.635 |
7.575 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
61.877 |
78.692 |
76.301 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
21.942 |
25.766 |
25.621 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
39.935 |
52.926 |
50.680 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
F.O.B. Value of Exports |
85.577 |
28.465 |
0.000 |
|
|
|
services |
2.538 |
2.889 |
0.000 |
|
|
TOTAL EARNINGS |
88.115 |
31.391 |
0.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Components and Stores parts |
333.115 |
284.193 |
NA |
|
|
TOTAL IMPORTS |
333.115 |
284.193 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1995.75 |
2644.96 |
2532.73 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
(63.616) |
77.140 |
114.839 |
|
Net Cash flows from operating activities |
(78.034) |
48.513 |
220.659 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
4.59 |
6.34 |
5.01 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
8.24 |
10.31 |
8.33 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.49 |
12.91 |
12.14 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.14 |
0.19 |
0.22 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.07 |
0.00 |
0.20 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.56 |
2.55 |
2.12 |
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 |
0.200 |
0.200 |
0.200 |
|
Reserves & Surplus |
353.838 |
406.764 |
446.699 |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
354.038 |
406.964 |
446.899 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
71.204 |
0.000 |
30.113 |
|
Total borrowings |
71.204 |
0.000 |
30.113 |
|
Debt/Equity ratio |
0.201 |
0.000 |
0.067 |
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 |
1011.039 |
845.317 |
875.771 |
|
|
|
-16.391 |
3.603 |
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 |
1011.039 |
845.317 |
875.771 |
|
Profit |
50.680 |
52.926 |
39.935 |
|
|
5.01% |
6.26% |
4.56% |
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 |
Yes |
|
8 |
Designation of contact person |
Yes |
|
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 |
No |
|
21 |
Banking facility details |
No |
|
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 |
No |
|
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 |
PERFORMANCE REVIEW:
This financial year, the company has achieved the turnover of Rs. 875.000 million and has earned profit before tax of Rs. 61.900 million. The company has done substantial business with GAIL totaling to Rs. 159.000 million and with torrent totaling to Rs. 157.000 million. The company has order backlog of around Rs. 510.000 million as 31st March 2014 which would help in achieving higher turnover in next financial year.
Background:
The company was incorporated on 7 February 2007,
and is a part of Emerson Group. The company is in the business of manufacturing
natural gas and liquid flow measurement products and engineering and metering
systems.
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Short Borrowing |
|
|
|
Loan repayable on demand |
30.113 |
0.000 |
|
Total |
30.113 |
0.000 |
NOTE:
Registered Office of the company has been shifted from “Plot No.299-300, GIDC, Makarpura, Vadodara-390010, Gujarat, India” to the present Address w.e.f. 13.02.2013
INDEX OF CAHREGS:
NO INDEX OF CHARGES
FIXED ASSETS:
- Plant and Machinery
- Computers
- Office equipments
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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.66.75 |
|
|
1 |
Rs.100.29 |
|
Euro |
1 |
Rs.72.89 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
KHP |
|
|
|
|
Report Prepared
by : |
MTN |
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 |
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 |
|
48 |
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.