MIRA
INFORM REPORT
|
Report No. : |
306497 |
|
Report Date : |
09.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
|
|
|
|
|
Registered
Office : |
253/1, 11th |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
03.07.1992 |
|
|
|
|
Com. Reg. No.: |
08-013306 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.32.500 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28920KA1992PTC013306 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Available |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
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|
Line of Business
: |
Manufactures of construction equipment. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
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 having satisfactory track record. As per ROC the date of balance sheet (i.e, financial filed) is shown
as 31.03.2014 but the documents related to the financial for the year 2014
are not available from any sources. As per the available financial of 2013, general financial position of
the company’s seems to be sound. Trade relations are reported as fair. Business is active. Payments
terms are reported to be usually correct. The company can be considered normal 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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
|
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 |
Fund Based limits: A |
|
Rating Explanation |
Adequate degree of safety and low credit risk. |
|
Date |
August 2014 |
|
Rating Agency Name |
ICRA |
|
Rating |
Non-fund based limits: A1 |
|
Rating Explanation |
Very degree of safety and carry lowest credit risk. |
|
Date |
August 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.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Lezy |
|
Designation : |
Account department |
|
Contact No.: |
91-80-67200037 |
|
Date : |
05.02.2015 |
LOCATIONS
|
Registered Office : |
253/1, 11th |
|
Tel. No.: |
91-80-67200037/38 |
|
Fax No.: |
91-80-23471757 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1 : |
No. 16 and 17, KIADB Industrial Area, Bashettihalli, Daddabllapura -
561203 |
|
Tel. No.: |
91-80-39216040 |
|
Fax No.: |
91-80-39216004 |
|
|
|
|
Factory 2 : |
No. 3, KIADB Industrial Area, Bashettihalli, Daddabllapura - 561203 |
|
Tel. No.: |
91-80-39216001 |
|
Fax No.: |
91-80-39216004 |
|
|
|
|
Branches : |
Located at ·
Thane ·
Noida ·
|
|
|
|
|
Where house 1 : |
House no. 11/8, Road no. 4, IDA, Nacharam,
Near BSNL Office, Hydrabad – 500076, |
|
Tel. No.: |
91-9845058628 |
|
Fax No.: |
91-40-27174175 |
|
E-Mail : |
|
|
|
|
|
Where house 2 : |
Building No .26, Unit no .1, |
|
Tel. No.: |
91-9022288628 |
|
E-Mail : |
DIRECTORS
As on 17.09.2014
|
Name : |
Mr. Vijay Krishnaswamy |
|
Designation : |
Managing Director |
|
Address : |
3506,
13th |
|
Qualification : |
B Tech |
|
Experience : |
36 Years |
|
Date of Birth/Age : |
31.03.1951 |
|
Date of Appointment : |
03.07.1992 |
|
DIN No.: |
00642715 |
|
|
|
|
Name : |
Mr. Enrico Santini |
|
Designation : |
Director |
|
Address : |
329
1A Modenna Via Strada Santanna, |
|
Date of Birth/Age : |
02.02.1961 |
|
Date of Appointment : |
07.10.1995 |
|
DIN No.: |
02583241 |
|
|
|
|
Name : |
Mr. Monica Pelliciari |
|
Designation : |
Director |
|
Address : |
286
1/A Sassuoco (Mo), Modenna Via Emilla Centron 222, |
|
Date of Birth/Age : |
23/03/1965 |
|
Date of Appointment : |
03.12.2005 |
|
DIN No.: |
02583224 |
|
|
|
|
Name : |
Mr. Jacob Jiten John |
|
Designation : |
Director |
|
Address : |
|
|
Date of Appointment : |
01.04.2011 |
|
DIN No.: |
03636873 |
|
PAN No.: |
APMPJ5845F |
|
|
|
|
Name : |
Mr. Narang Kumar Devinder |
|
Designation : |
Director |
|
Address : |
First Floor, Trishul No.2/1 Old, |
|
Date of Appointment : |
16.10.2013 |
|
DIN No.: |
01917846 |
|
|
|
|
Name : |
Mr. Subramanyam Goplal |
|
Designation : |
Director |
|
Address : |
Flat No. 404, |
|
Date of Birth/Age : |
02.11.1955 |
|
Date of Appointment : |
01.03.2014 |
|
DIN No.: |
06684319 |
KEY EXECUTIVES
|
Name : |
Mr. Lezy |
|
Designation : |
Account department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 17.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
SPA Flori |
|
97500 |
|
|
|
194920 |
|
Vijay Krishnaswamy |
|
50 |
|
John
Jacob |
|
10 |
|
Monica
Pelliciari |
|
20 |
|
EM Engineering SRL |
|
32500 |
|
Total |
|
325000 |
Equity Share Break up (Percentage of Total Equity)
As on 17.09.2014
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
40.00 |
|
Bodies corporate |
60.00 |
|
Total |
100.00 |
%20PRIVATE%20LIMITED%20-%20306497%2009-Feb-2015_files/image002.gif)
BUSINESS DETAILS
|
Line of Business : |
Manufactures of construction equipment. |
|
|
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|
Brand Names : |
Not Divulged |
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|
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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 : |
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Selling : |
Cash and Cheque |
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|
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Purchasing : |
Cash and Cheque |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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|
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|
Auditors : |
|
|
Name : |
Rajagopal and Badri Narayanan Chartered Accountants |
|
Address : |
No.25, Padmashree, Mansion, 2nd floor, I cross, Sampige 'Road, Malleswaram, |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAFPN1707L |
|
|
|
|
Memberships : |
-- |
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|
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Collaborators : |
-- |
|
|
|
|
Holding company: |
·
Ajax Engineering Private Limited, |
|
|
|
|
Joint venture: |
· Fiori Spa |
|
|
|
|
Associate: |
·
Edis Publishing and Promotional Packaging
Private Limited, |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
350000 |
Equity Shares |
Rs.100/- each |
Rs. 35.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
325000 |
Equity Shares |
Rs.100/- each |
Rs. 32.500
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
32.500 |
32.500 |
32.500 |
|
(b) Reserves & Surplus |
859.007 |
467.838 |
280.360 |
|
(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) |
891.507 |
500.338 |
312.860 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
22.883 |
33.423 |
39.194 |
|
(b) Deferred tax liabilities
(Net) |
12.865 |
11.496 |
7.216 |
|
(c) Other long term
liabilities |
1.353 |
1.213 |
1.840 |
|
(d) long-term provisions |
90.500 |
62.752 |
110.952 |
|
Total
Non-current Liabilities (3) |
127.601 |
108.884 |
159.202 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
12.819 |
99.610 |
45.566 |
|
(b) Trade payables |
404.396 |
273.756 |
193.781 |
|
(c) Other current liabilities |
22.988 |
21.443 |
12.728 |
|
(d) Short-term provisions |
210.206 |
95.172 |
15.347 |
|
Total
Current Liabilities (4) |
650.409 |
489.981 |
267.422 |
|
|
|
|
|
|
TOTAL |
1669.517 |
1099.203 |
739.484 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
191.734 |
191.576 |
120.291 |
|
(ii) Intangible Assets |
14.270 |
11.400 |
0.129 |
|
(iii) Capital work-in-progress |
17.576 |
0.000 |
5.862 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
345.443 |
296.479 |
175.855 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
142.628 |
67.944 |
112.134 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
711.651 |
567.399 |
414.271 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
460.205 |
292.844 |
225.891 |
|
(c) Trade receivables |
241.687 |
95.653 |
61.451 |
|
(d) Cash and cash equivalents |
32.691 |
29.378 |
27.417 |
|
(e) Short-term loans and
advances |
223.283 |
113.929 |
10.454 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
957.866 |
531.804 |
325.213 |
|
|
|
|
|
|
TOTAL |
1669.517 |
1099.203 |
739.484 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
3018.800 |
1803.000 |
1139.100 |
|
|
Other Income |
|
|
|
|
|
TOTAL
(A) |
3018.800 |
1803.000 |
1139.100 |
|
|
|
|
|
|
|
Less |
EXPENSES |
2401.000 |
1505.700 |
944.200 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
617.800 |
297.300 |
194.900 |
|
|
|
|
|
|
|
Less |
TAX |
154.164 |
74.398 |
51.792 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
463.636 |
222.902 |
143.108 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
Export Sales |
0.713 |
10.682 |
3.100 |
|
|
TOTAL
EARNINGS |
0.713 |
10.682 |
3.100 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
1426.57 |
NA |
NA |
%20PRIVATE%20LIMITED%20-%20306497%2009-Feb-2015_files/image003.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20306497%2009-Feb-2015_files/image004.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20306497%2009-Feb-2015_files/image005.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
47.29 |
37.04 |
34.94 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.69 |
0.59 |
0.62 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.04 |
0.27 |
0.27 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.47 |
1.09 |
1.22 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
32.500 |
32.500 |
32.500 |
|
Reserves & Surplus |
280.360 |
467.838 |
859.007 |
|
Net
worth |
312.860 |
500.338 |
891.507 |
|
|
|
|
|
|
long-term borrowings |
39.194 |
33.423 |
22.883 |
|
Short term borrowings |
45.566 |
99.610 |
12.819 |
|
Total
borrowings |
84.760 |
133.033 |
35.702 |
|
Debt/Equity
ratio |
0.271 |
0.266 |
0.040 |
%20PRIVATE%20LIMITED%20-%20306497%2009-Feb-2015_files/image007.gif)
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total income |
1139.100 |
1803.000 |
3018.800 |
|
|
|
58.283 |
67.432 |
%20PRIVATE%20LIMITED%20-%20306497%2009-Feb-2015_files/image009.gif)
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
1139.100 |
1803.000 |
3018.800 |
|
Profit |
143.108 |
222.902 |
463.636 |
|
|
12.56% |
12.36% |
15.36% |
%20PRIVATE%20LIMITED%20-%20306497%2009-Feb-2015_files/image011.gif)
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 |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
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 |
Yes |
|
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 |
No |
|
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 |
No |
NOTE: Registered office of the company has been shifted
from 148/25,
Industrial Suburb, Yeshwanthpur,
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10526467 |
07/08/2014 |
69,500,000.00 |
STATE BANK OF |
SME BRANCH, B-96,
2ND CROSS, 1ST STAGE, PEENYA INDUSTRIAL ESTATE, |
C30143267 |
|
2 |
80017194 |
26/09/2013 * |
225,600,000.00 |
STATE BANK OF |
SME BRANCH, B-96,
2ND CROSS, 1ST STAGE, PEENYA INDUSTRIAL ESTATE, PEENYA, |
B89793079 |
* Date of charge modification
FIXED ASSETS
Tangible assets
· Land
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Office equipment
Intangible assets
· 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.94.65 |
|
Euro |
1 |
Rs.70.79 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
54 |
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.