MIRA
INFORM REPORT
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Report No. : |
307636 |
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Report Date : |
16.02.2015 |
IDENTIFICATION DETAILS
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Name : |
PARAS FLOWFORM ENGINEERING LIMITED (w.e.f. 25.09.2009) |
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Formerly Known
As : |
PARAS FLOW FORM ENGINEERING LIMITED |
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Registered
Office : |
A-396/A-397, TTC Industrial Area, MIDC, Mahape, Navi Mumbai – 400703, |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
16.06.2009 |
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Com. Reg. No.: |
11-193352 |
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Capital
Investment / Paid-up Capital : |
Rs. 50.000 Millions |
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CIN No.: [Company Identification
No.] |
U27101MH2009PLC193352 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
PNEP13749B |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of altra high precision and customized
industrial products. |
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No. of Employees
: |
50 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (34) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 800000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. The management has failed file its financial with government
department for the year 2014. As per available financial of 2013, the rating is constrained on
account of company’s moderate financial risk profile and low profitability
margins of the company. However, trade relations are 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 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long Term Bank Facilities = BB- |
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Rating Explanation |
Inadequate credit quality and high credit risk. |
|
Date |
March 31, 2014 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short Term Bank Facilities = A4 |
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Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
March 31, 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 DENIED
Management non-cooperative (Tel No.: 91-9821118432/ 91-251-2620333/ 555)
LOCATIONS
|
Registered Office : |
A-396/A-397, TTC Industrial Area, MIDC, Mahape, Navi Mumbai – 400703,
Maharashtra, India |
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Tel. No.: |
Not Available |
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Fax No.: |
Not Available |
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E-Mail : |
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Factory : |
M-6, Addl. MIDC. Ambarnath (E), Thane – 421 506, Maharashtra, India |
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Tel. No.: |
+91 251 2620333 |
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Fax No.: |
+91 251 2621222 |
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Website : |
DIRECTORS
AS ON 28.09.2013
|
Name : |
Sharad Virji Shah |
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Designation : |
Director |
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Address : |
A1301, Nirmal Nagar, Kalinga Mulund Gore Link Road, Mulund West, Mumbai – 400080, Maharashtra,
India |
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Date of Birth/Age : |
18.12.1947 |
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Date of Appointment : |
16.06.2009 |
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DIN No.: |
00622001
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Other
Directorship :
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Name : |
Munjal Sharad Shah |
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Designation : |
Director |
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Address : |
A1301, Nirmal Nagar, Kalinga Mulund Gore Link Road, Mulund West, Mumbai
– 400080, Maharashtra, India |
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Date of Birth/Age : |
27.05.1977 |
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Date of Appointment : |
16.06.2009 |
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DIN No.: |
01080863
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Other
Directorship :
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Name : |
Ami Munjal Shah |
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Designation : |
Director |
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Address : |
A1301, Nirmal Nagar, Kalinga Mulund Gore Link Road, Mulund West, Mumbai – 400080, Maharashtra, India |
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Date of Birth/Age : |
16.05.1977 |
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Date of Appointment : |
16.06.2009 |
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DIN No.: |
00930183
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Other
Directorship :
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.09.2013
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Sharad Viraj Shah |
2972500 |
99.08 |
|
Munjal Sharad Shah |
13500 |
0.45 |
|
Niranjan Sharad Shah |
4500 |
0.15 |
|
Ami Munjal Shah |
4500 |
0.15 |
|
Harsh D Bhansali |
2250 |
0.08 |
|
Kajal Bhansali |
2250 |
0.08 |
|
Sharad Kenia |
500 |
0.02 |
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|
|
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Total |
3000000 |
100.00 |
AS ON 28.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of altra high precision and customized
industrial products. |
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Products : |
Not Available |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
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Selling : |
Not Available |
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Purchasing : |
Not Available |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
50 (Approximately) |
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Bankers : |
Indian Overseas Bank, Mahim Branch, “SADHANA”, 378, L.J. Road, Mahim,
Mumbai – 400018, Maharashtra, India |
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Facilities : |
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Auditors : |
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Name : |
Nitin Maru and Associates Chartered Accountants |
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Address : |
103/104, Flora Point, S N Road, Mulund West, Mumbai – 400080,
Maharashtra, India |
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PAN No.: |
AABPM9883E |
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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 28.09.2013
Authorised Capital : Rs. 50.000 Millions
Issued, Subscribed & Paid-up Capital : Rs. 50.000
Millions
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3000000 |
Equity Shares |
Rs. 10/- each |
Rs. 30.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3000000 |
Equity
Shares |
Rs. 10/-
each |
Rs. 30.000
Millions |
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|
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
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(a) Share Capital |
|
30.000 |
9.350 |
|
(b) Reserves & Surplus |
|
261.931 |
255.171 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
|
291.931 |
264.521 |
|
|
|
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(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
20.219 |
39.039 |
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(b) Deferred tax liabilities (Net) |
|
2.909 |
0.728 |
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(c) Other long term liabilities |
|
0.000 |
0.000 |
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(d) long-term provisions |
|
0.000 |
0.000 |
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Total Non-current Liabilities (3) |
|
23.128 |
39.767 |
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|
|
|
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(4) Current Liabilities |
|
|
|
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(a) Short term borrowings |
|
121.399 |
99.733 |
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(b) Trade payables |
|
1074.382 |
980.715 |
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(c) Other current
liabilities |
|
3.349 |
6.343 |
|
(d) Short-term provisions |
|
0.000 |
0.000 |
|
Total Current Liabilities (4) |
|
1199.130 |
1086.791 |
|
|
|
|
|
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TOTAL |
|
1514.189 |
1391.079 |
|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
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(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
407.227 |
326.150 |
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(ii) Intangible Assets |
|
0.000 |
0.000 |
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(iii) Capital
work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.500 |
0.200 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
1.041 |
1.541 |
|
(e) Other Non-current assets |
|
5.099 |
10.473 |
|
Total Non-Current Assets |
|
413.867 |
338.364 |
|
|
|
|
|
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(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
40.126 |
152.601 |
|
(c) Trade receivables |
|
1034.469 |
854.495 |
|
(d) Cash and cash
equivalents |
|
2.657 |
1.873 |
|
(e) Short-term loans and
advances |
|
21.589 |
43.405 |
|
(f) Other current assets |
|
1.481 |
0.341 |
|
Total Current Assets |
|
1100.322 |
1052.715 |
|
|
|
|
|
|
TOTAL |
|
1514.189 |
1391.079 |
|
SOURCES OF FUNDS |
|
|
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
0.500 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
136.612 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
137.112 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
103.004 |
|
|
2] Unsecured Loans |
|
|
8.536 |
|
|
TOTAL BORROWING |
|
|
111.540 |
|
|
DEFERRED TAX LIABILITIES |
|
|
1.264 |
|
|
|
|
|
|
|
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TOTAL |
|
|
249.916 |
|
|
|
|
|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
207.533 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.199 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
30.050 |
|
|
Sundry Debtors |
|
|
9.431 |
|
|
Cash & Bank Balances |
|
|
5.698 |
|
|
Other Current Assets |
|
|
2.073 |
|
|
Loans & Advances |
|
|
9.238 |
|
Total
Current Assets |
|
|
56.490 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
13.475 |
|
|
Other Current Liabilities |
|
|
0.000 |
|
|
Provisions |
|
|
0.922 |
|
Total
Current Liabilities |
|
|
14.397 |
|
|
Net Current Assets |
|
|
42.093 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.091 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
249.916 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1305.749 |
1867.700 |
199.346 |
|
|
|
Other Income |
7.325 |
4.472 |
2.534 |
|
|
|
TOTAL (A) |
1313.074 |
1872.172 |
201.880 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
304.767 |
145.792 |
166.687 |
|
|
|
Purchases of Stock-in-Trade |
798.796 |
1727.628 |
0.000 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
111.336 |
(117.441) |
0.000 |
|
|
|
Employees benefits expense |
13.585 |
14.802 |
4.290 |
|
|
|
Other expenses |
26.833 |
25.822 |
0.000 |
|
|
|
General Administrative and Selling Expenses |
0.000 |
0.000 |
11.260 |
|
|
|
Preliminary expenses written off |
0.000 |
0.000 |
0.030 |
|
|
|
TOTAL (B) |
1255.317 |
1796.603 |
182.267 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION (A-B) (C) |
57.757 |
75.569 |
19.613 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
18.981 |
21.881 |
9.644 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
38.776 |
53.688 |
9.969 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
12.736 |
9.075 |
6.757 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
26.040 |
44.613 |
3.212 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
3.893 |
4.725 |
1.364 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
22.147 |
39.888 |
1.847 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
7.38 |
13.30 |
0.62 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
Net Profit Margin PAT / Sales |
(%) |
1.70
|
2.14 |
0.92 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
96.14
|
96.19 |
9.84 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.72 |
3.21 |
1.28 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09 |
0.17 |
0.02 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.49 |
0.52 |
0.81 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.92 |
0.97 |
3.92 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
9.350 |
30.000 |
|
Reserves & Surplus |
255.171 |
261.931 |
|
Net
worth |
264.521 |
291.931 |
|
|
|
|
|
long-term borrowings |
39.039 |
20.219 |
|
Short term borrowings |
99.733 |
121.399 |
|
Total
borrowings |
138.772 |
141.618 |
|
Debt/Equity
ratio |
0.525 |
0.485 |
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) |
|
Sales |
199.346 |
1867.700 |
1305.749 |
|
|
|
836.914 |
(30.088) |
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 |
199.346 |
1867.700 |
1305.749 |
|
Profit |
1.847 |
39.888 |
22.147 |
|
|
0.93% |
2.14% |
1.70% |
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 |
Yes |
|
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 |
No |
|
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 |
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 |
No |
|
33] |
Voter ID No
of Proprietor/Partner/Director, if available |
No |
|
34] |
External
Agency Rating, if available |
Yes |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10356972 |
03/12/2011 |
216,911,000.00 |
NKGSB CO-OP. BANK LTD. |
Raunak Towers, Baji Prabhu Deshpande Marg, Naupada, Thane (W), Thane, Maharashtra - 400602, INDIA |
B33347493 |
|
2 |
10246399 |
03/12/2011 * |
216,911,000.00 |
NKGSB CO-OP BANK LTD |
Raunak Towers, Baji Prabhu Deshpane Marg, Naupada, Thane, Maharashtra - 400602, INDIA |
B33351487 |
|
3 |
10308833 |
30/07/2010 |
139,300,000.00 |
NKGSB CO-OP. BANK LTD. |
Raunak Towers, Baji Prabhu Deshpande Marg, Naupada, Thane (W), Thane, Maharashtra - 400602, INDIA |
A95982708 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Loans and advances from related parties |
0.491 |
6.477 |
|
Intercorporate borrowings |
1.070 |
13.331 |
|
Total |
1.561 |
19.808 |
FIXED ASSETS
·
Land
·
Buildings
·
Plant and Equipments
·
Computer
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 records 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. 62.14 |
|
|
1 |
Rs. 95.78 |
|
Euro |
1 |
Rs. 71.05 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
JYO |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
34 |
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.