MIRA INFORM REPORT
|
Report No. : |
307491 |
|
Report Date : |
14.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
ADVANCED SYS-TEK PRIVATE LIMITED (w.e.f. 31.10.2007) |
|
|
|
|
Formerly Known
As : |
DANIEL MEASUREMENT AND CONTROL (INDIA) PRIVATE LIMITED ADVANCED SPECTRA-TEK PRIVATE LIMITED GE OIL AND GAS |
|
|
|
|
Registered
Office : |
299/300 G I D C, Makarpura, Behind Novino Battery,
Vadodara – 390010, Gujarat |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
16.03.1988 |
|
|
|
|
Com. Reg. No.: |
04-010464 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.19.649 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U33112GJ1988PTC010464 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Available |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Electrical equipment and trader of electrical mechanical
items, cable. Pipes, computer meter.
|
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (31) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 570000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established private limited liability company having
moderate track record. It is and a subsidiary of GE Mauritius Infrastructure Holdings
Limited, Mauritius. The company has reported loss for the current and previous financial
year. External borrowings have increased considerably. However, trade relations seem to be fair. Business is active. Payments
are reported to be 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 |
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
31-03-2014.
LOCATIONS
|
Registered Office/ Factory : |
299/300 G I D C, Makarpura, Behind Novino Battery,
Vadodara – 390010, Gujarat, India |
|
Tel. No.: |
91-265-3041100 |
|
Fax No.: |
91-265-3041111 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 25.08.2014
|
Name : |
Mr. Mukesh Rajnikant Kapadia |
|
Designation : |
Director |
|
Address : |
7, Chartor Society, Old Padra Road, Vadodara – 390020, Gujrat, India |
|
Date of Birth/Age : |
21.06.1950 |
|
Date of Appointment : |
02.08.2013 |
|
DIN No.: |
00048621 |
|
|
|
|
Name : |
Mr. Umed Amarchand Fifadra |
|
Designation : |
Director |
|
Address : |
Plot No. 4 and 5, Tandalja Road, Opposite Gulab Vatika Society, Vadodara – 390020, Gujrat, India |
|
Date of Birth/Age : |
25.11.1949 |
|
Date of Appointment : |
01.06.2012 |
|
DIN No.: |
00049036 |
|
|
|
|
Name : |
Mrs. Manish Sinha |
|
Designation : |
Director |
|
Address : |
K-238, 154, Vijay Rattan Vihar, Gurgaon – 122001, Haryana, India |
|
Date of Birth/Age : |
16.08.1676 |
|
Date of Appointment : |
13.03.2013 |
|
DIN No.: |
06481081 |
|
|
|
|
Name : |
Mr. Rohit Anand |
|
Designation : |
Director |
|
Address : |
G-75, First Floor, Saket, New Delhi – 110017, India |
|
Date of Birth/Age : |
24.09.1979 |
|
Date of Appointment : |
28.10.2013 |
|
DIN No.: |
06713973 |
|
|
|
|
Name : |
Mr. Champak kumar Panda |
|
Designation : |
Director |
|
Address : |
Y-802, Tower – 1, Adarsh Palam Retreat, Devarbisnahalli, Bangalore –
560103, Karnataka, India |
|
Date of Birth/Age : |
21.05.1970 |
|
Date of Appointment : |
20.05.2014 |
|
DIN No.: |
06857815 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 25.08.2014
|
Names of Shareholders |
|
No. of Shares |
|
Umed Fifadra |
|
314212 |
|
Mukesh Kapadia |
|
314212 |
|
Chirag Fifadra |
|
5000 |
|
Roshni Fifadra |
|
5000 |
|
Nisha Jain |
|
10000 |
|
GE Mauritius Infrastructure Holding Limited, Mauritius |
|
1316497 |
|
GE Pacific (Mauritius) Limited, Mauritius |
|
1 |
|
Total |
|
1964922 |
Equity Share Break up (Percentage of Total Equity)
As on 25.08.2014
|
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 |
67.00 |
|
Directors or relatives of Directors |
33.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Electrical equipment and trader of electrical
mechanical items, cable. Pipes, computer meter. |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Available |
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|
|
|
Imports : |
Not Available |
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|
|
|
Terms : |
Not Available |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
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|||||||||||||||
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Facilities : |
|
|
|
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|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
B S R and Company Chartered Accountants |
|
Address : |
Lodha Excelus, 1st Floor, Apolo Mills, N.M. Joshi Marg, Mahalakshmi,
Mumbai – 400011, Maharashtra, India |
|
Tel No.: |
91-22-39896000 |
|
Fax No.: |
91-22-30902511 |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFB9825F |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Holding Company : |
|
|
|
|
|
Ultimate Holding Company : |
|
|
|
|
|
Fellow Subsidiaries : |
|
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4800000 |
Equity Shares |
Rs.10/- each |
Rs.48.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1964922 |
Equity Shares |
Rs.10/- each |
Rs.19.649 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 |
19.649 |
19.649 |
19.649 |
|
(b) Reserves & Surplus |
180.463 |
243.796 |
384.936 |
|
(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) |
200.112 |
263.445 |
404.585 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1.008 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
1.904 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
10.996 |
17.960 |
9.877 |
|
Total
Non-current Liabilities (3) |
12.004 |
17.960 |
11.781 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
166.170 |
59.580 |
52.927 |
|
(b) Trade payables |
172.158 |
302.453 |
90.548 |
|
(c) Other current liabilities |
267.444 |
315.591 |
28.225 |
|
(d) Short-term provisions |
55.367 |
6.122 |
7.649 |
|
Total
Current Liabilities (4) |
661.139 |
683.746 |
179.349 |
|
|
|
|
|
|
TOTAL |
873.255 |
965.151 |
595.715 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
|
|
|
(ii) Intangible Assets |
67.166 |
69.687 |
55.942 |
|
(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) |
47.344 |
50.140 |
0.000 |
|
(d) Long-term Loan and Advances |
70.369 |
29.205 |
23.002 |
|
(e) Other Non-current assets |
0.620 |
1.620 |
2.518 |
|
Total
Non-Current Assets |
185.499 |
150.652 |
81.462 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
112.224 |
117.837 |
80.176 |
|
(c) Trade receivables |
221.509 |
90.614 |
383.031 |
|
(d) Cash and cash equivalents |
1.918 |
11.704 |
24.683 |
|
(e) Short-term loans and
advances |
36.612 |
20.578 |
25.968 |
|
(f) Other current assets |
315.493 |
573.766 |
0.395 |
|
Total
Current Assets |
687.756 |
814.499 |
514.253 |
|
|
|
|
|
|
TOTAL |
873.255 |
965.151 |
595.715 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
932.929 |
133.569 |
561.681 |
|
|
|
|
Other Income |
12.690 |
8.199 |
12.025 |
|
|
|
|
TOTAL (A) |
945.619 |
141.768 |
573.706 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
Cost of Materials Consumed |
|
20.036 |
29.965 |
|
|
|
|
Purchase of Stock-in-trade |
|
66.471 |
311.832 |
|
|
|
|
Changes in Inventories of finished goods, work-in-progress and
stock-in-trade |
|
(42.577) |
(10.511) |
|
|
|
|
Employee Benefits Expenses |
|
87.678 |
81.052 |
|
|
|
|
Other Expenses |
|
155.145 |
115.510 |
|
|
|
|
Exceptional Items |
|
0.000 |
2.683 |
|
|
|
|
Prior Period Items |
|
33.537 |
0.000 |
|
|
|
|
TOTAL (B) |
1003.044 |
320.290 |
530.531 |
|
|
|
|
|
|
|
||
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(57.425) |
(178.522) |
43.175 |
||
|
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES (D) |
15.136 |
5.563 |
7.630 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
(72.561) |
(184.085) |
35.545 |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/
AMORTISATION (F) |
5.178 |
3.670 |
3.349 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS) BEFORE
TAX (E-F) (G) |
(77.739) |
(187.755) |
32.196 |
||
|
|
|
|
|
|
||
|
Less |
TAX (H) |
(20.229) |
(45.614) |
10.099 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
(57.510) |
(142.141) |
22.097 |
||
|
|
|
|
|
|
||
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
||
|
|
|
Services |
6.839 |
8.462 |
5.755 |
|
|
|
|
Export Earnings |
41.767 |
3.995 |
14.596 |
|
|
|
TOTAL EARNINGS |
48.606 |
12.457 |
20.351 |
||
|
|
|
|
|
|
||
|
|
IMPORTS |
|
|
|
||
|
|
|
Raw Materials |
19.931 |
11.823 |
9.754 |
|
|
|
|
Stores & Spares |
18.928 |
28.775 |
23.539 |
|
|
|
TOTAL IMPORTS |
38.859 |
40.598 |
33.293 |
||
|
|
|
|
|
|
||
|
|
Earnings /
(Loss) Per Share (Rs.) |
(29.27) |
(71.83) |
11.25 |
||
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(6.16) |
(106.42) |
3.93 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
(6.16) |
(133.66) |
7.69 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(9.41) |
(20.52) |
5.40 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.39) |
(0.71) |
0.08 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.84 |
0.23 |
0.13 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.04 |
1.19 |
2.87 |
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 |
19.649 |
19.649 |
19.649 |
|
Reserves & Surplus |
384.936 |
243.796 |
180.463 |
|
Net
worth |
404.585 |
263.445 |
200.112 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
1.008 |
|
Short term borrowings |
52.927 |
59.580 |
166.170 |
|
Total
borrowings |
52.927 |
59.580 |
167.178 |
|
Debt/Equity
ratio |
0.131 |
0.226 |
0.835 |
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 |
561.681 |
133.569 |
932.929 |
|
|
|
(76.220) |
598.462 |
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 |
561.681 |
133.569 |
932.929 |
|
Profit |
22.097 |
(142.141) |
(57.510) |
|
|
3.93% |
(106.42%) |
(6.16%) |
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
INDEX
OF CHARGES: NO CHARGES EXIST FOR COMPANY
PERIOD IN RETROSPECT’S
The turnover of the company was Rs.932.900
Millions in the current year as against Rs.133.500 Millions in the previous
year. The above increase in sales is attributed by the increase in completion
of jobs and secondary due to the change in the accounting process of the
company in the previous year.
During the year, the prices of material
remained volatile but the company managed to have delivery as scheduled barring
in a few instances where the situation was adverse. In terminal automation
market they continue to lead the market by grabbing all time high orders in the
year, the company has booked orders more the Rs.987.000 Millions during the
year and hence a very strong backlog position.
The company is confident of monitoring its
marketing leadership and shall continue to show consistent performance.
BACKGROUND
The company is subsidiary of GE Mauritius
Infrastructure Holing Limited a subsidiary of General Electric Company USA. GE
Mauritius Infrastructure Holing Limited holds Sixty seven percentage, of the
issued and paid up share capital of the company. The company offers complete
automation and metering solution to customer using project management expertise
and specialized knowledge of the oil and gas measurement industry. This enables
customers to measure, automate and control the transportation and distribution
of their through pipelines, tank trucks, barges and rail wagons.
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
Short-term borrowings |
|
|
|
Overdraft
facilities from bank |
166.170 |
59.580 |
|
|
|
|
|
Total |
166.170 |
59.580 |
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
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.62.14 |
|
|
1 |
Rs.95.78 |
|
Euro |
1 |
Rs.71.05 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUC |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
|
31 |
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.