MIRA INFORM REPORT
|
Report No. : |
354537 |
|
Report Date : |
21.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
DYNATECH TOOLS AND DEVICES (BENGALURU) PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
No.55, 4th Main, 3rd Phase, Peenya Industrial Area, Bangalore –
560058, Karnataka |
|
Mobile No.: |
91-9845216351 (Mr. Thimmaiach) |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
13.04.2012 |
|
|
|
|
Com. Reg. No.: |
063529 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.150.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29220KA2012PTC063529 |
|
|
|
|
IEC No.: |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
Not Available |
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|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the business of manufacturing and supply of parts and accessories of machines (Registered Activity) |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (41) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 443000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
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|
Litigation : |
Clear |
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|
Comments : |
Subject is established company incorporated in the year 2012. It has
satisfactory track. Management of the company has failed to file financials for the year
2015 with the government department. The ratings takes into consideration decent increase in the sales
turnover of the company in FY14. However, profit has declined over previous
year. Further, the adequate networth base along with comfortable debt level
leads to sound financial risk profile. Trade relations are fair. Business is active. Payment terms are
reported to be slow but correct. 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 |
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 : |
Mr. Thimmiah |
|
Designation : |
Not Divulged |
|
Contact No.: |
91-9845216351 |
|
Date : |
16.12.2015 |
LOCATIONS
|
Registered Office : |
No.55, 4th Main, 3rd Phase, Peenya Industrial Area, Bangalore –
560058, Karnataka, India |
|
Tel. No.: |
91-80-28362430 |
|
Mobile No.: |
91-9845216351 (Mr. Thimmiah) |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
AS ON 29.09.2014
|
Name : |
Sajjanraj Mohanlal Jain |
|
Designation : |
Director |
|
Address : |
Flat No. 32, Kcn Mansion, No.7/2, Yamuna Bai Road, Madhavanagar,, Bangalore - 560001, Karnataka, India |
|
Date of Birth/Age : |
15.08.1961 |
|
Date of Appointment : |
13.04.2012 |
|
DIN No.: |
00211850 |
|
|
|
|
Name : |
Geetha Vittal Shettigar |
|
Designation : |
Director |
|
Address : |
1 Block, 1108, Brigade Gateway, Malleshwaram (West), Bangalore - 560055, Karnataka, India |
|
Date of Birth/Age : |
01.12.1945 |
|
Date of Appointment : |
13.04.2012 |
|
DIN No.: |
03567290 |
|
|
|
|
Name : |
Savithri Thimmaiah |
|
Designation : |
Director |
|
Address : |
No.101, 2nd Cross, 1st Block, Nagarabavi, 2nd Stage, Bangalore - 560072, Karnataka, India |
|
Date of Birth/Age : |
25.06.1971 |
|
Date of Appointment : |
13.04.2012 |
|
DIN No.: |
03567311 |
|
|
|
|
Name : |
Bellairu Damodar |
|
Designation : |
Director |
|
Address : |
Kanthakusuma, No.21, 1st Main, 1st Circular Road, Dollar Scheme, Nandini Layout, Bangalore - 560096, Karnataka, India |
|
Date of Birth/Age : |
18.04.1959 |
|
Date of Appointment : |
13.04.2012 |
|
DIN No.: |
03567391 |
|
|
|
|
Name : |
Ballapatna Dhoomegowda Thimmiah |
|
Designation : |
Director |
|
Address : |
No.101, 2nd Cross, 1st Block, 2nd Stage, Nagarabhavi, Bangalore - 560072, Karnataka, India |
|
Date of Birth/Age : |
20.07.1962 |
|
Date of Appointment : |
13.04.2012 |
|
DIN No.: |
03567405 |
|
|
|
|
Name : |
Hemanth Kukkikatte Vittal |
|
Designation : |
Director |
|
Address : |
1 Block, 1108, Brigade Gateway, Malleshwaram (West), Bangalore - 560055, Karnataka, India |
|
Date of Birth/Age : |
24.12.1980 |
|
Date of Appointment : |
13.04.2012 |
|
DIN No.: |
03567433 |
|
|
|
|
Name : |
Vathsala Damodar |
|
Designation : |
Director |
|
Address : |
No.21, I Circular Road, 1st Main Road, Dollar Scheme, Nandini Layout, Bangalore - 560096, Karnataka, India |
|
Date of Birth/Age : |
31.03.1968 |
|
Date of Appointment : |
13.04.2012 |
|
DIN No.: |
03567441 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2014
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Bellairu Damodar |
3750000 |
25.00 |
|
Sajjanraj Mohanlal Jain |
2250000 |
15.00 |
|
Geetha Vittal Shettigar |
1500000 |
10.00 |
|
Savithri Thimmaiah |
750000 |
5.00 |
|
Ballapatna Dhoomegowda Thimmiah |
3000000 |
20.00 |
|
Hemanth Kukkikatte Vittal |
2250000 |
15.00 |
|
Vathsala Damodar |
1500000 |
10.00 |
|
Total |
15000000 |
100.00 |
%20PRIVATE%20LIMITED%20-%20354537%2021-Dec-2015_files/image015.gif)
Equity Share Break up (Percentage of Total Equity)
AS ON 29.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of manufacturing and
supply of parts and accessories of machines (Registered Activity) |
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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 : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
S Janardhan and Associates Chartered Accountants |
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Address : |
APT NO 106, 1st Floor, Embassy Centre |
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PAN No.: |
ABIPB8461F |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AS ON 29.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150,00,000 |
Equity Shares |
Rs.10/- each |
Rs.150.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150,00,000 |
Equity Shares |
Rs.10/- each |
Rs.150.000 Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2014 |
31.03.2013 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
150.000 |
150.000 |
|
(b) Reserves &
Surplus |
|
4.913 |
4.116 |
|
(c) Money received
against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
|
0.000 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
|
154.913 |
154.116 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
87.068 |
91.066 |
|
(b) Deferred tax
liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
0.100 |
0.100 |
|
(d) long-term provisions |
|
1.753 |
1.689 |
|
Total Non-current
Liabilities (3) |
|
88.921 |
92.855 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
7.319 |
8.682 |
|
(b) Trade payables |
|
13.610 |
15.640 |
|
(c) Other current
liabilities |
|
3.760 |
4.809 |
|
(d) Short-term provisions |
|
1.622 |
0.873 |
|
Total Current Liabilities
(4) |
|
26.311 |
30.004 |
|
|
|
|
|
|
TOTAL |
|
270.145 |
276.975 |
|
|
|
|
|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
171.491 |
179.540 |
|
(ii) Intangible Assets |
|
0.107 |
0.000 |
|
(iii) Capital
work-in-progress |
|
4.243 |
1.212 |
|
(iv) Intangible assets
under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
0.965 |
0.965 |
|
(c) Deferred tax assets
(net) |
|
0.233 |
0.646 |
|
(d) Long-term Loan and Advances |
|
40.891 |
37.036 |
|
(e) Other Non-current
assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
217.930 |
219.399 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
10.496 |
9.683 |
|
(c) Trade receivables |
|
27.349 |
26.783 |
|
(d) Cash and cash
equivalents |
|
9.637 |
17.394 |
|
(e) Short-term loans and
advances |
|
3.984 |
2.780 |
|
(f) Other current assets |
|
0.749 |
0.936 |
|
Total Current Assets |
|
52.215 |
57.576 |
|
|
|
|
|
|
TOTAL |
|
270.145 |
276.975 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
|
|
SALES |
|
|
|
|
|
Income |
|
99.128 |
|
|
|
Other Income |
|
|
|
|
|
TOTAL |
|
99.128 |
86.636 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
TOTAL |
|
98.086 |
82.308 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
|
1.042 |
4.328 |
|
|
|
|
|
|
|
Less |
TAX |
|
(1.075) |
0.212 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
|
2.117 |
4.116 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
|
0.14 |
NA |
%20PRIVATE%20LIMITED%20-%20354537%2021-Dec-2015_files/image003.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20354537%2021-Dec-2015_files/image004.gif){kind=small}
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
|
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
|
NA |
NA |
|
Cash generated from operations |
|
NA |
NA |
|
Net cash flow from used in operations |
|
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
|
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Total Income) |
(%) |
|
2.14 |
4.75 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
0.39 |
1.58 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.01 |
0.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
|
0.61 |
0.65 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
1.98 |
1.92 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
150.000 |
150.000 |
|
Reserves & Surplus |
4.116 |
4.913 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
|
Net worth |
154.116 |
154.913 |
|
|
|
|
|
long-term borrowings |
91.066 |
87.068 |
|
Short term borrowings |
8.682 |
7.319 |
|
Total borrowings |
99.748 |
94.387 |
|
Debt/Equity ratio |
0.647 |
0.609 |
%20PRIVATE%20LIMITED%20-%20354537%2021-Dec-2015_files/image017.gif)
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
86.636 |
99.128 |
|
|
#REF! |
14.419 |
%20PRIVATE%20LIMITED%20-%20354537%2021-Dec-2015_files/image019.gif)
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
86.636 |
99.128 |
|
Profit |
4.116 |
2.117 |
|
|
4.75% |
2.14% |
%20PRIVATE%20LIMITED%20-%20354537%2021-Dec-2015_files/image021.gif)
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 |
No |
|
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 |
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 |
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Rupee term loans from others |
35.169 |
32.591 |
|
|
|
|
|
Total |
35.169 |
32.591 |
CORPORATE INFORMATION
Subject was incorporated in the year 2012 to continue its operations of manufacturing and supply of parts and accessories of machines which was carried as a partnership firm by the same management. Transmission shafts, screw bolts and nuts are the other major products of Dynatech Tools and Devices (Bangalore) Private Limited which are produced by extensive skilled and semi-skilled labour force.
The company Rs. total revenue including other income increased to Rs. 99.128 Million in the current year from Rs. 86.636 Million in the previous year. Due to Challenging macroeconomic environment, intense competitive landscape and increase in Finance cost, Loss before tax and exceptional items (LBT) for the year 2013-14 reached a level of Rs. 1.042 Million compared to PBT of Rs. 4.328 Million in the previous year. Similarly LAT for the year 2013-14 reached a level of 2.117 Million from PAT of Rs. 4.116 Million in the previous year. In order to conserve the resources and due to loss in current year your Directors do not recommend declaration of any dividend.
index of charge
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.66.42 |
|
|
1 |
Rs.99.17 |
|
Euro |
1 |
Rs.72.14 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUP |
|
|
|
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
4 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
41 |
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.