MIRA
INFORM REPORT
|
Report No. : |
352707 |
|
Report Date : |
08.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
TOPSUN ENERGY LIMITED |
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|
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Registered
Office : |
B-101, GIDC, Electronic Zone, Sector – 25, Gandhinagar - 382028, |
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Tel. No.: |
91-79-2328880 |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
10.08.2007 |
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Com. Reg. No.: |
04-051489 |
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Capital
Investment / Paid-up Capital : |
Rs.112.500 Million |
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CIN No.: [Company Identification
No.] |
U31900GJ2007PLC051489 |
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IEC No.: |
0807011321 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AACCT7455P |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Solar Panel, Power Generation system.
(Confirmed by management) |
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No. of Employees
: |
120 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 230000 |
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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 was established in 2007 and it is engaged in business of manufacturing
and exporting of solar PV modules and also undertakes turnkey projects
including erection, commissioning and laying of solar panels for residential,
commercial and government customers. For the financial year ended 2014, company has reported 35.92% sales
turnover growth as compared to previous sales turnover and it has maintained
average profitability margin at 2.80% during the under a review. r Rating favourable takes into account wide experience and
resourcefulness of company’s promoters and its established track record of
record of operations in system integration business along with backward
integration in solar PV module manufacturing. The ratings further takes into account consistent growth in its total
operating income and improving profitability. However, rating strength is partially offset by its presence in highly
fragmented and competitive solar photovoltaic (PV) industry and working
capital intensive nature of operation. Trade relations are reported as fair. Payment terms are reported to be
slow but correct. In view of aforesaid, the company can be considered for business
dealings at usual trade term and condition. Note: As per registrar of companies the date of balance sheet (i.e.
financial filed) is shown as 31.03.2015 but the documents related to the
financial for the year 31.03.2015 are not available from any source. |
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 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long-term Bank Facilities = BB+ |
|
Rating Explanation |
Inadequate-credit-quality and high credit
risk. |
|
Date |
September 03, 2015 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short-term Bank Facilities = A4+ |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
September 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.
INFORMATION PARTED BY
|
Name : |
Mr. Alkesh Bhavsar |
|
Designation : |
Account Manager |
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Contact No.: |
91-9978979813 |
|
Date : |
04.12.2015 |
LOCATIONS
|
Registered Office : |
B-101, GIDC, Electronic Zone, Sector – 25, Gandhinagar - 382028,
Gujarat, India |
|
Tel. No.: |
91-79-2328880 |
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Mobile No.: |
91-9978979813 (Mr. Alkesh) |
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Fax No.: |
91-79-23288805 |
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E-Mail : |
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Website : |
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Area : |
1000 sq. mtr. |
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Location : |
Owned |
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Factory : |
R.S. No – 892, Near 66 KVSub Station, At and Post – Linch, Mehsana –
384435, Gujarat, India |
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Area : |
14800 sq. ft. |
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Location : |
Owned |
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International
Office : |
Eindstraat 46, 5801 CR Venray, The Netherland |
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Tel. No.: |
+31 (0)620 97 50 45 / +31 (0)478 64 19 40 |
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Fax No.: |
+31 (0)478 51 03 00 |
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Email : |
DIRECTORS
As on 24.09.2014
|
Name : |
Mr. Alpeshkumar Dineshchandra Patel |
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Designation : |
Whole-Time Director |
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Address : |
H-15, Sardarsham, Dediyasan Housing Zone, Mehsana - 384002, Gujarat, India |
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Date of Appointment : |
01.08.2015 |
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DIN No.: |
00290925 |
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Other Directorship:
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Name : |
Mr. Dineshchanra Lilachand Patel |
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Designation : |
Director |
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Address : |
H-15, Sardarsham, Dediyasan Housing Zone, Mehsana - 384002, Gujarat, India |
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Date of Appointment : |
10.08.2007 |
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DIN No.: |
00353785 |
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Name : |
Mr. Chintan Gandabhai Patel |
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Designation : |
Managing Director |
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Address : |
Plot No.B-26, G.I.D.C. Housing, Sector No.26, Gandhinagar - 382026, Gujarat, India |
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Date of Appointment : |
01.08.2015 |
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DIN No.: |
01660438 |
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Other Directorship:
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Name : |
Mr. Kalpeshbhai Dahyalal Patel |
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Designation : |
Director |
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Address : |
40, Krishna Society, Jail Road, Mehsana - 384002, Gujarat, India |
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Date of Appointment : |
10.08.2007 |
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DIN No.: |
01660470 |
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Name : |
Mr. Chanakya Himmatlal Patel |
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Designation : |
Whole-Time Director |
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Address : |
Plot No.35 B, GIDC Housing Zone Sector 26, Gandhinagar - 382026, Gujarat, India |
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Date of Appointment : |
01.08.2015 |
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DIN No.: |
01719202 |
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KEY EXECUTIVES
|
Name : |
Mr. Alkesh Bhavsar |
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Designation : |
Account Manager |
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|
Name : |
Mr. Ajay Parikh and Associates |
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Designation : |
Practicing Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 24.09.2014
SHAREHOLDER DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on 24.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Solar Panel, Power Generation system.
(Confirmed by management) |
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|
Products : |
·
Solar Panel ·
Power Generation system |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
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Countries : |
·
Bangladesh ·
South Africa ·
Iraq |
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Imports : |
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Products : |
Raw Material |
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Countries : |
·
China ·
Italy ·
Germany |
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Terms : |
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Selling : |
Cash, L/C and Credit (30 / 60 Days) |
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Purchasing : |
Cash, L/C and Credit (30 / 60 Days) |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
120 (Approximately) |
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Bankers : |
Union Bank of India, Jodhpur Tekra Branch, Shivranjani Cross Road, Ahmedabad
– 380015, Gujarat, India |
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Facilities : |
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Auditors : |
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|
Name : |
Haresh S Kansara and Company Chartered Accountants |
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Address : |
82, Apna Bazar (Vimal Super Market), S.T. Workshop Road, Mehsana –
384002, Gujarat, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
ABVPK2140D |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Jointly Promoted Firm : |
·
Vimal Controls ·
Vimal Electronics ·
Vimal Electric Company ·
Vimal Corporation ·
Vimal Industries ·
Voltex Industries |
CAPITAL STRUCTURE
After 30.09.2015
Authorised Capital : Rs. 150.000 Million
Issued, Subscribed & Paid-up Capital : Rs. 112.500
Million
As on 24.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6739100 |
Equity Shares |
Rs.10/- each |
Rs.67.391
Million |
|
|
|
|
|
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4924600 |
Equity Shares |
Rs.10/- each |
Rs.49.246
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 |
49.246 |
16.455 |
13.558 |
|
(b) Reserves & Surplus |
32.725 |
32.933 |
11.805 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
10.500 |
|
Total
Shareholders’ Funds (1) + (2) |
81.971 |
49.388 |
35.863 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
133.924 |
52.714 |
14.315 |
|
(b) Deferred tax liabilities
(Net) |
9.939 |
2.591 |
2.102 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
143.863 |
55.305 |
16.417 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
98.517 |
118.117 |
23.138 |
|
(b) Trade payables |
172.341 |
105.345 |
40.587 |
|
(c) Other current liabilities |
14.749 |
9.219 |
29.812 |
|
(d) Short-term provisions |
2.825 |
2.111 |
1.169 |
|
Total
Current Liabilities (4) |
288.432 |
234.792 |
94.706 |
|
|
|
|
|
|
TOTAL |
514.266 |
339.485 |
146.986 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
140.553 |
41.676 |
23.399 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(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 |
2.810 |
2.810 |
1.805 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1.874 |
3.591 |
1.901 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
145.237 |
48.077 |
27.105 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
25.182 |
15.264 |
9.244 |
|
(c) Trade receivables |
304.265 |
237.244 |
102.524 |
|
(d) Cash and cash equivalents |
28.016 |
31.056 |
2.029 |
|
(e) Short-term loans and
advances |
11.536 |
7.784 |
5.994 |
|
(f) Other current assets |
0.030 |
0.060 |
0.090 |
|
Total
Current Assets |
369.029 |
291.408 |
119.881 |
|
|
|
|
|
|
TOTAL |
514.266 |
339.485 |
146.986 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Revenue from Operations |
870.124 |
640.522 |
356.075 |
|
|
Other Income |
5.689 |
7.134 |
4.305 |
|
|
TOTAL
(A) |
875.813 |
647.656 |
360.380 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
625.898 |
494.125 |
292.650 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(0.489) |
0.483 |
(1.739) |
|
|
Amortization of preliminary
Expenses |
0.030 |
0.030 |
0.030 |
|
|
Employees benefits expense |
19.234 |
14.772 |
8.455 |
|
|
Other expenses |
158.752 |
93.700 |
37.160 |
|
|
TOTAL
(B) |
803.425 |
603.110 |
336.556 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
72.388 |
44.546 |
23.824 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
36.273 |
20.995 |
10.892 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
36.115 |
23.551 |
12.932 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
4.352 |
1.577 |
1.395 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
31.763 |
21.974 |
11.537 |
|
|
|
|
|
|
|
Less |
TAX (H) |
7.347 |
0.846 |
1.371 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
24.416 |
21.128 |
10.166 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
4.96 |
12.84 |
7.5 |
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover |
|
|
800.000 |
|
|
|
|
|
Expected Sales (2015-2016) : Rs.1050.000 Million
The above information has been parted by Mr. Alkesh Bhavsar (Account
Manager).
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 |
47.166 |
42.523 |
NA |
|
Net cash flow from operating activity |
47.166 |
42.165 |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
2.81 |
3.30 |
2.86 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
8.32 |
6.95 |
6.69 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.21 |
6.53 |
7.95 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.39 |
0.44 |
0.32 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.84 |
3.46 |
1.04 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.28 |
1.24 |
1.27 |
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 |
13.558 |
16.455 |
49.246 |
|
Reserves & Surplus |
11.805 |
32.933 |
32.725 |
|
Share Application money pending allotment |
10.500 |
0.000 |
0.000 |
|
Net
worth |
35.863 |
49.388 |
81.971 |
|
|
|
|
|
|
long-term borrowings |
14.315 |
52.714 |
133.924 |
|
Short term borrowings |
23.138 |
118.117 |
98.517 |
|
Total
borrowings |
37.453 |
170.831 |
232.441 |
|
Debt/Equity
ratio |
1.044 |
3.459 |
2.836 |
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 |
356.075 |
640.522 |
870.124 |
|
|
|
79.884 |
35.846 |
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 |
356.075 |
640.522 |
870.124 |
|
Profit |
10.166 |
21.128 |
24.416 |
|
|
2.86% |
3.30% |
2.81% |
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) |
Yes |
|
16 |
No. of employees |
Yes |
|
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 |
Yes |
|
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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
Note: Registered office
of the company has been shifted from E-49, GIDC Electronic Zone, Sector – 26,
Gandhinagar, Gujarat, India to the
present address w.e.f.16.06.2008.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Loans and Advances from Related parties |
69.465 |
44.709 |
|
Total |
69.465 |
44.709 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10555952 |
10/03/2015 |
627,300,000.00 |
DENA BANK |
RAJMAHAL ROAD BRNACH, MEHSANA, MEHSANA, Gujarat - 384001, INDIA |
C47198627 |
|
2 |
10555293 |
11/12/2014 |
627,300,000.00 |
DENA BANK |
RAJMAHAL ROAD BRNACH, MEHSANA, MEHSANA, Gujarat - 384001, INDIA |
C46689691 |
|
3 |
10448903 |
05/09/2013 |
1,178,000.00 |
Axis Bank Limited |
RAC Ahmedabad, CV/ CE Department, 4th Floor, Shivalik Ishan, Near. C.
N. Vidhyalaya, Ambawadi, AHMEDABAD, Gujarat - 380006, INDIA |
B84947951 |
FIXED ASSETS
· Computer
· Vehicle
· Plant and Machinery
· Dead Stock
· Building Construction and WIP
· Building Construction
· Land
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.66.62 |
|
|
1 |
Rs.100.65 |
|
Euro |
1 |
Rs.72.40 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SUJ |
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 |
4 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
43 |
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.