MIRA
INFORM REPORT
|
Report No. : |
305849 |
|
Report Date : |
04.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
JR METAL CHENNAI LIMTED |
|
|
|
|
Registered
Office : |
No. 3, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
26.11.2008 |
|
|
|
|
Com. Reg. No.: |
18-069998 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 461.259 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27310TN2008PLC069998 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCJ0990P |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is Engaged in the manufacturer and Trading of TMT Rebars and
Billets. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1445000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company moderate track record. Reserves of the company seems to be low during 2014. However, trade relations are fair. Business is active. Payment terms
are slow but correct. The company can be considered for business dealings with some caution. |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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 |
ICRA |
|
Rating |
Long Term, Term Loan (B+) |
|
Rating Explanation |
Have high risk of default |
|
Date |
November 2014 |
|
|
|
|
Rating Agency Name |
ICRA |
|
Rating |
Short Term, Non-fund Based (A4) |
|
Rating Explanation |
Have minimal degree of safety and carry very high credit risk. |
|
Date |
November 2014 |
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
31-03-2014.
LOCATIONS
|
Registered Office : |
No. 3, Manali Express Road, T.K.P Nagar,Thiruvottiyur, Chennai –
600019, Tamilnadu, India |
|
Tel. No.: |
91-44-25741116/25741216/25741316/25741416/25740305/25740088/1965/0879 |
|
Fax No.: |
91-44-25740305 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
Periyapuliyur Village, Poovalambedu Post, Via - Kavarapettai, Gummidipoondi T.K., Thiruvallur Distric - 601206. Tamilnadu, India |
|
E-Mail : |
DIRECTORS
As on: 30.09.2014
|
Name : |
Mr. Narayan Singh |
|
Designation : |
Director |
|
Address : |
85/1th Road, Rajakadia Chennai – 600019, Tamilnadu, India |
|
Date of Birth/Age : |
21.01.1971 |
|
Date of Appointment : |
26.11.2008 |
|
Qualification: |
Graduate |
|
PAN No.: |
ACAPN1404D |
|
DIN No.: |
02039316 |
|
|
|
|
Name : |
Mr. Ramachandran Ranganathan |
|
Designation : |
Additional Director |
|
Address : |
No.204, Lake View Road, West Mabalam, Chennai – 600033, Tamilnadu, India |
|
Date of Birth/Age : |
05.05.1956 |
|
Qualification: |
Graduate |
|
Date of Appointment : |
06.04.2012 |
|
DIN No.: |
05339166 |
|
|
|
|
Name : |
Mr. Shailendra Nath Mishra |
|
Designation : |
Additional Director |
|
Address : |
No.1, Vivekananda Nagar, 4th Street, Old Gummidipoondi – 601206, Tamilnadu, India |
|
Date of Birth/Age : |
02.04.1964 |
|
Date of Appointment : |
06.04.2012 |
|
Qualification: |
Graduate |
|
DIN No.: |
05339168 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2014
Note: SHAREHOLDER FILE ATTECHED
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2014
|
Category |
Percentage |
|
Bodies corporate |
16.92 |
|
Directors or relatives of Directors |
62.50 |
|
Other top fifty shareholders |
9.00 |
|
Others |
11.58 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is Engaged in the manufacturer and Trading of TMT Rebars and Billets.
|
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
Brand Names : |
Not Available |
||||
|
|
|
||||
|
Agencies Held : |
Not Available |
||||
|
|
|
||||
|
Exports : |
Not Available |
||||
|
|
|
||||
|
Imports : |
Not Available |
||||
|
|
|
||||
|
Terms : |
Not Available |
GENERAL INFORMATION
|
Sup pliers : |
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Customers : |
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
· HDFC Bank Limited, HDFC Bank Housesenapati Bapat Marg, Lower Parel W, Mumbai - 400013, Maharashtra, India · Oriental Bank Of Commerce (Overseas Branch) And Uco Bank Mid Corporate, Overseas Branch, Padma Complex, 467, Anna Salai, Teynampet, Chennai - 600018, Tamil Nadu, India |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
V Narayanan and Company Chartered Accountants |
|
Address : |
No .23, CV Raman Road, Alwarpet, Tamilanadu, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AADFV3471F |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives |
· Janaki Ram Steel and Power Private Limited · U27101TN2004PTC052868 · Indo Steel Re Rollers · Narayan Industries · Sri Vadivudai Amman Steel Company |
|
|
|
|
Group of Companies: |
·
Narayan Industries ·
Indo Steel Re-Rollers ·
Janakiram Steel and Power Private Limited ·
Sri Vadivudai Amman Steel Company ·
J.R.S. Container Terminal Private Limited ·
Sri Kumaran Wind Energy Private Limited |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 500.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
46,125,949 |
Equity Shares |
Rs.10/- each |
Rs. 461.259
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
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 |
461.259 |
396.752 |
396.753 |
|
(b) Reserves & Surplus |
44.809 |
24.399 |
10.813 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
51.828 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
506.068 |
472.979 |
407.566 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
117.050 |
90.424 |
104.518 |
|
(b) Deferred tax liabilities (Net) |
4.933 |
5.960 |
5.554 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.593 |
0.408 |
0.145 |
|
Total Non-current Liabilities (3) |
122.576 |
96.792 |
110.217 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
48.128 |
52.785 |
60.816 |
|
(b) Trade payables |
485.075 |
572.566 |
586.546 |
|
(c) Other current
liabilities |
118.936 |
77.129 |
65.953 |
|
(d) Short-term provisions |
6.580 |
0.001 |
0.000 |
|
Total Current Liabilities (4) |
658.719 |
702.481 |
713.315 |
|
|
|
|
|
|
TOTAL |
1287.363 |
1272.252 |
1231.098 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
319.663 |
347.831 |
372.179 |
|
(ii) Intangible Assets |
0.374 |
0.623 |
0.736 |
|
(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) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
63.143 |
57.090 |
22.524 |
|
(e) Other Non-current assets |
0.000 |
0.091 |
0.182 |
|
Total Non-Current Assets |
383.180 |
405.635 |
395.621 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
291.907 |
310.747 |
183.911 |
|
(c) Trade receivables |
472.394 |
444.890 |
481.539 |
|
(d) Cash and cash
equivalents |
45.267 |
43.659 |
77.451 |
|
(e) Short-term loans and
advances |
34.535 |
12.710 |
32.194 |
|
(f) Other current assets |
60.080 |
54.611 |
60.382 |
|
Total Current Assets |
904.183 |
866.617 |
835.477 |
|
|
|
|
|
|
TOTAL |
1287.363 |
1272.252 |
1231.098 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2551.450 |
3148.550 |
2478.746 |
|
|
|
Other Income |
45.920 |
87.741 |
4.977 |
|
|
|
TOTAL |
2597.370 |
3236.291 |
2483.723 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
1046.948 |
1471.819 |
1009.634 |
|
|
|
Purchases of Stock-in-Trade |
518.871 |
832.748 |
715.316 |
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(24.174) |
(103.824) |
16.401 |
|
|
|
Employees benefits expense |
7.341 |
5.437 |
3.910 |
|
|
|
Other expenses |
920.921 |
903.561 |
602.078 |
|
|
|
TOTAL
|
2469.907 |
3109.741 |
2347.339 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
127.463 |
126.550 |
136.384 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
43.191 |
47.496 |
52.967 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
84.272 |
79.054 |
83.417 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
53.926 |
58.734 |
65.374 |
|
|
|
|
|
|
|
|
|
Add: |
PRIOR PERIOD
ITEMS |
0.000 |
0.000 |
0.626 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
30.346 |
20.320 |
18.669 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
9.935 |
6.734 |
6.073 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
20.411 |
13.586 |
12.596 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.45 |
0.34 |
0.73 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
0.80 |
0.43 |
0.51 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
5.00 |
4.02 |
5.50 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.36 |
1.60 |
1.52 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06 |
0.04 |
0.05 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.33 |
0.30 |
0.41 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.37 |
1.23 |
1.17 |
FINANCIAL ANALYSIS
[all figures are in
Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
396.753 |
396.752 |
461.259 |
|
Reserves & Surplus |
10.813 |
24.399 |
44.809 |
|
Share
Application money pending allotment |
0.000 |
51.828 |
0.000 |
|
Net worth |
407.566 |
472.979 |
506.068 |
|
|
|
|
|
|
long-term borrowings |
104.518 |
90.424 |
117.050 |
|
Short term borrowings |
60.816 |
52.785 |
48.128 |
|
Total borrowings |
165.334 |
143.209 |
165.178 |
|
Debt/Equity ratio |
0.406 |
0.303 |
0.326 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
2478.746 |
3148.550 |
2551.450 |
|
|
|
27.022 |
(18.964) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
2478.746 |
3148.550 |
2551.450 |
|
Profit |
12.596 |
13.586 |
20.411 |
|
|
0.51% |
0.43% |
0.80% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
COMPANY OPERATIONS:
During the year, the turnover of the company has decreased from Rs.3148.549 Million during 31.3.2013 to Rs.2551.450 Million during 31.3.2014, with a decrease of around 19%. This is due to slow down in the market however the company made a net profit before tax of Rs 30.346 Million with an increase of 49% over previous year and PAT of Rs.20.410 Million, with an increase of 50% approximately.
INDEX OF CHRGES:
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10262290 |
06/12/2010 |
4,250,000.00 |
HDFC BANK
LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra - 400013, INDIA |
B04423489 |
|
2 |
10254035 |
20/10/2010 |
1,900,000.00 |
HDFC BANK
LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra - 400013, INDIA |
B00865501 |
|
3 |
10204922 |
14/06/2010 * |
490,000,000.00 |
ORIENTAL BANK
OF COMMERCE (OVERSEAS BRANCH) AND UC |
OVERSEAS
BRANCH, PADMA COMPLEX, 467, ANNA SALAI, |
A89015366 |
|
4 |
10176579 |
02/09/2009 |
600,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSE
SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra - 400013, INDIA |
A70166236 |
|
5 |
10149052 |
03/03/2009 |
700,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSE
SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra - 400013, INDIA |
A58650961 |
* Date of charge modification
FIXED ASSETS:
· Buildings
· Plant and equipment
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Office equipment
· Computer equipments
· Computer software
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.61.74 |
|
|
1 |
Rs.92.71 |
|
Euro |
1 |
Rs.69.94 |
INFORMATION DETAILS
|
Analysis Done by
: |
RSM |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
26 |
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.