MIRA INFORM REPORT
|
Report No. : |
354799 |
|
Report Date : |
21.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
PRAKASH RE-ROLLERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
12 Gandhi Market Vora Bazar, Opposite Jain Temple, Bhavnagar-364001,
Gujarat |
|
Tel. No.: |
91-278-2511519 / 2525781 / 3001710 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
04.10.1993 |
|
|
|
|
Com. Reg. No.: |
04-020326 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 55.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28999GJ1993PTC020326 |
|
|
|
|
IEC No.: |
Not Applicable [As claimed by Company management, the Company does not Export and Import] |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
AABCP2866P |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Mild and High tensile street products, M S Angles, Flats, Squares rounds, Sections and Bars. |
|
|
|
|
No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company incorporated during the year 1993.
It has a satisfactory track record. As per the Registrar of Companies the date of balance sheet (i.e.
financial filed) is shown as 31.03.2015 but the documents related to the
financials are not available from any sources. For the financial year ended 2014, the company possesses fine
operational activity marked by decent sales turnover along profitability
margin of 1.36%. The company has healthy financial risk profile marked by efficient net
worth base. Trade relations are reported as fair. Business is active. Payments
term are usually correct. In view of extensive experience of its promoters, the company can be
considered for 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.
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 = BB |
|
Rating Explanation |
Inadequate credit quality and high credit
risk. |
|
Date |
December 2015 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = A4+ |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
December 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. Ghanshyam |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-278-2525781 |
|
Date : |
16.12.2015 |
LOCATIONS
|
Registered Office : |
12, Gandhi Market, Vora Bazar, Opposite Jain Temple, Bhavnagar – 364001, Gujarat, India |
|
Tel. No.: |
91-278-2511519 / 2525781 / 3001710 |
|
Fax No.: |
91-278-2425479 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
Survey No.270/1, Plot No.9-10, Bhavnagar-Rajkot Highway, Sihor-364240, Gujarat, India |
|
Tel. No.: |
91-2846-222824 / 222563 |
|
Fax No.: |
91-2846-225890 |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Prakashkumar Doshi |
|
Designation : |
Director |
|
Address : |
Plot No.618/A-3, Bhav-Vijay, Gita Chowk, Bhavnagar – 364001, Gujarat, India |
|
Date of Birth/Age : |
16.09.1966 |
|
Date of Appointment : |
09.10.1993 |
|
DIN No.: |
00408279 |
|
PAN No.: |
ABYPD8181G |
|
|
|
|
Name : |
Mr. Rajendra Doshi |
|
Designation : |
Director |
|
Address : |
715-B, Dairy Road, Anjali, Bhavnagar - 364001, Gujarat, India |
|
Date of Birth/Age : |
10.03.1958 |
|
Date of Appointment : |
27.08.2007 |
|
DIN No.: |
00408326 |
|
|
|
|
Name : |
Mr. Rajendrakumar Bhogilal Doshi |
|
Designation : |
Director |
|
Address : |
Arihant, Behind Amardeep Cinema, Itwari, Nagpur - 440002, Maharashtra India |
|
Date of Birth/Age : |
20.11.1957 |
|
Date of Appointment : |
27.08.2007 |
|
DIN No.: |
01399980 |
|
PAN No.: |
AAAPD7664F |
|
|
|
|
Name : |
Mr. Prafullachandra Bhogilal Doshi |
|
Designation : |
Director |
|
Address : |
118-B, Park Avenue Bhiwanpurkar Road, Dhantoli, Nagpur – 440012, Maharashtra India |
|
Date of Birth/Age : |
20.10.1949 |
|
Date of Appointment : |
04.10.1993 |
|
DIN No.: |
01458771 |
|
PAN No.: |
AAKPD2325D |
KEY EXECUTIVES
|
Name : |
Mr. Ghanshyam |
|
Designation : |
Account Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2015
NOTE: SHAREHOLDING DETAILS FILE ATTACHED
AS ON 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of
Holding |
|
Bodies corporate |
54.74 |
|
Directors or relatives of Directors |
45.26 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Mild and High tensile street products, M S Angles, Flats, Squares rounds, Sections and Bars. |
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Products : |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
-- |
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Imports : |
-- |
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Terms : |
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Selling : |
Depend |
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Purchasing : |
Depend |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Manufacturer
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No. of Employees : |
150 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
|
|
Name : |
B R Popat and Company Chartered Accountants |
|
Address : |
S-1, “Swastik”, Near Dawn Railway Crossing, Bhavnagar-364001, Gujarat, India |
|
Tel. No.: |
91-278-2212099 / 2211009 |
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E-Mail : |
|
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PAN Income-tax PAN of auditor or auditor's firm : |
AACFB0495N |
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|
|
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Memberships : |
-- |
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|
|
|
Collaborators : |
-- |
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|
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|
Associates : |
|
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6,650,000 |
Equity Shares |
Rs.10/- each |
Rs. 66.500 Million |
|
35,000 |
Preference Shares |
Rs.100/- each |
Rs. 3.500 Million |
|
|
Total |
|
Rs. 70.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,150,000 |
Equity Shares |
Rs.10/- each |
Rs. 51.500
Million |
|
35,000 |
Preference Shares |
Rs.100/- each |
Rs. 3.500 Million |
|
|
Total |
|
Rs. 55.000 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 |
55.000 |
55.000 |
55.000 |
|
(b) Reserves & Surplus |
217.607 |
194.867 |
178.288 |
|
(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) |
272.607 |
249.867 |
233.288 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
1.475 |
7.708 |
|
(b) Deferred tax liabilities (Net) |
3.431 |
3.403 |
3.363 |
|
(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) |
3.431 |
4.878 |
11.071 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
345.353 |
660.293 |
584.239 |
|
(b) Trade
payables |
20.009 |
185.286 |
674.389 |
|
(c) Other
current liabilities |
2.166 |
21.635 |
9.586 |
|
(d) Short-term
provisions |
13.578 |
8.278 |
7.878 |
|
Total Current
Liabilities (4) |
381.106 |
875.492 |
1276.092 |
|
|
|
|
|
|
TOTAL |
657.144 |
1130.237 |
1520.451 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
58.116 |
61.439 |
64.263 |
|
(ii)
Intangible Assets |
3.479 |
3.479 |
3.480 |
|
(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 |
0.013 |
0.013 |
0.013 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
21.618 |
1.899 |
4.914 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
83.226 |
66.830 |
72.670 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
197.945 |
442.673 |
772.459 |
|
(c) Trade
receivables |
321.411 |
569.491 |
546.037 |
|
(d) Cash
and cash equivalents |
13.801 |
15.371 |
50.271 |
|
(e)
Short-term loans and advances |
7.026 |
4.961 |
13.265 |
|
(f) Other current
assets |
33.735 |
30.911 |
65.749 |
|
Total
Current Assets |
573.918 |
1063.407 |
1447.781 |
|
|
|
|
|
|
TOTAL |
657.144 |
1130.237 |
1520.451 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
1674.040 |
2160.621 |
1739.552 |
|
|
|
Other Income |
33.338 |
33.793 |
11.936 |
|
|
|
TOTAL |
1707.378 |
2194.414 |
1751.488 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
1656.805 |
2153.332 |
1708.304 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
50.573 |
41.082 |
43.184 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
16.822 |
16.214 |
20.424 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
33.751 |
24.868 |
22.760 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
11.011 |
8.290 |
7.456 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
22.740 |
16.578 |
15.304 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
4.42 |
3.22 |
2.97 |
|
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
1564.300 |
|
|
|
|
(Due to Market
Fluctuation) |
The above information has been parted by Mr. Ghanshyam (Accounts
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 |
5.820 |
5.990 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operation |
328.344 |
(91.332) |
(120.846) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin
(PAT / Sales) |
(%) |
1.36 |
0.77 |
0.88 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.14 |
2.20 |
1.50 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.12 |
0.10 |
0.10 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.27 |
2.67 |
2.56 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.51 |
1.21 |
1.13 |
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 |
55.000 |
55.000 |
55.000 |
|
Reserves & Surplus |
178.288 |
194.867 |
217.607 |
|
Net
worth |
233.288 |
249.867 |
272.607 |
|
|
|
|
|
|
long-term borrowings |
7.708 |
1.475 |
0.000 |
|
Short term borrowings |
584.239 |
660.293 |
345.353 |
|
Total
borrowings |
597.937 |
667.588 |
345.353 |
|
Debt/Equity
ratio |
2.563 |
2.672 |
1.267 |
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) |
|
Revenue from operation |
1739.552 |
2160.621 |
1674.040 |
|
|
|
24.206 |
(22.520) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Revenue from operation |
1739.552 |
2160.621 |
1674.040 |
|
Profit |
15.304 |
16.578 |
22.740 |
|
|
0.88% |
0.77% |
1.36% |
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 |
Yes |
|
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 |
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 |
No |
|
26] |
Turnover of firm for last three years |
Yes |
|
27] |
Reasons for variation <> 20% |
Yes |
|
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 |
Yes |
|
35] |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10443894 |
13/05/2013 |
985,400,000.00 |
STATE BANK OF
INDIA |
1ST FLOOR,
ADMINISTRATIVE BUILDING,, NILAMBAUG CHOWK, BHAVNAGAR, GUJARAT - 364001, INDIA |
B79763900 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
SHORT-TERM
BORROWINGS |
|
|
|
Loans and advances from related parties |
118.164 |
124.762 |
|
Total |
118.164 |
124.762 |
FIXED ASSETS
· Land
· Office building
· Plant and equipment
· Furniture and fixtures
· Computer equipments
· 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 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
: |
TRI |
|
|
|
|
Report Prepared
by : |
BVA |
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 |
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 |
|
45 |
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.