MIRA INFORM REPORT
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Report No. : |
302609 |
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Report Date : |
19.02.2015 |
IDENTIFICATION DETAILS
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Name : |
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Registered
Office : |
S-23, Green Park Extension, New Delhi – 110 016 |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
21.01.1983 |
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Com. Reg. No.: |
55-015047 |
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Capital Investment/
Paid-up Capital: |
Rs.96.000 Millions |
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CIN No.: [Company Identification
No.] |
U51109DL1983PLC015047 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELF02468E |
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PAN No.: [Permanent Account No.] |
AAACF0240N |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer of Conveyor Belts, Rubber Sheets Conveyor Belt
Accessories and Repair Material |
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No. of Employees: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 1900000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Exist |
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Comments : |
Subject is an established company having satisfactory track record. General financial position of the company seems to be sound and
healthy. Profitability of the company is fair. Trade relations are fair. Business is active. Payment terms are
reported t be usually correct. The company can be considered for business dealing 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) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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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.
INFORMATION DENIED
Management non co-operative (Tel. No. 91-1126961275)
LOCATIONS
|
Registered Office : |
S-23,
Green Park Extension, New Delhi – 110 016, India |
|
Tel. No.: |
91-11-26960868 |
|
Fax No.: |
91-11-26862373 |
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E-Mail : |
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|
Website : |
http:\\www.forech.com |
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Area : |
10000 sq. ft. (approximately)
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Location : |
Owned |
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Factory 1 : |
Village Rai, |
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Tel. No.: |
91-130-2366571/2366572/2366379 |
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Fax No. : |
91-130-2366384 |
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E-Mail : |
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Factory 2 : |
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Tel. No.: |
91-130-2475931 |
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Fax No.: |
91-130-2475931 |
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E-Mail : |
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Factory 3 : |
1, |
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Mobile No.: |
91-9444895612 |
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E-Mail : |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Ravi Khanna |
|
Designation : |
Managing Director |
|
Address : |
B-1/40, Safdarjaug Enclave, New Delhi – 110029, Delhi, India |
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Date of Birth/Age : |
06.12.1955 |
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Date of Appointment : |
01.10.2012 |
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DIN No. : |
00165154 |
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Name : |
Mr. Krishan Agarwal |
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Designation : |
Whole Time Director |
|
Address : |
53 Suvidha Kunj Zone H 4/5, Pitampura, New Delhi- 110085, Delhi, India
|
|
Date of Birth/Age : |
25.05.1970 |
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Date of Appointment : |
22.07.2011 |
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Din No.: |
00020206 |
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Name : |
Mr. Bharat Gandotra |
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Designation : |
Whole-time director |
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Address : |
B-1/40, Safdarjaug Enclave, New Delhi – 110029, Delhi, India |
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Date of Birth/Age : |
10.07.1975 |
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Date of Appointment : |
01.10.2012 |
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DIN No. : |
00165267 |
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Name : |
Ms. Jyoti Khanna |
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Designation : |
Director |
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Address : |
B-1/40, Safdarjaug Enclave, New Delhi – 110029, Delhi, India |
|
Date of Birth/Age : |
03.12.1957 |
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Date of Appointment : |
02.01.1995 |
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DIN No. : |
00165409 |
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Name : |
Mr. Jens Hamacher |
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Designation : |
Additional Director |
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Address: |
Dorotheenstrasse, Dusseldorf – 40325, Germany |
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Date of Birth/Age : |
20.06.1973 |
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Date of Appointment : |
25.08.2010 |
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DIN No. : |
02758627 |
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Name : |
Mr. Thomas Josef Ziller |
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Designation : |
Additional Director |
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Address: |
Dorfstrasse, Erkrath – 40699, Germany |
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Date of Birth/Age : |
14.03.1953 |
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Date of Appointment : |
25.08.2010 |
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DIN No. : |
02846016 |
MAJOR SHAREHOLDERS
AS ON 13.09.2014
|
Names of Shareholders |
No. of Shares |
|
|
865000 |
|
Jyoti Khanna |
630878 |
|
Aadisht Khanna |
864000 |
|
|
2880494 |
|
Bhavya Khanna |
857000 |
|
Suversha Khanna |
448672 |
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|
9000 |
|
Hilton Tyre Private Limited |
400000 |
|
Bharat Gandotra |
846824 |
|
Bhavna Malik |
16 |
|
Manik Dogra |
16 |
|
D D Agarwal |
139200 |
|
Pankaj Agarwal |
9600 |
|
D D Aggarwal HUF |
9600 |
|
Sunrise Build more Private limited, |
612500 |
|
Renu Aggarwal |
67200 |
|
Nilos Hans Ziller, Germany |
960000 |
|
Total |
9600000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 13.09.2014
|
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 |
10.00 |
|
Bodies corporate |
10.55 |
|
Directors or relatives of Directors |
79.45 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Conveyor Belts, Rubber Sheets Conveyor Belt
Accessories and Repair Material |
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Products : |
·
Conveyor Belts ·
Transmission belts ·
Cleated Belts ·
V-Belts ·
Rubber Sheets ·
Conveyor Accessories ·
Strips ·
Conveyor belts Repair Strips ·
Patches ·
Material Handling Equipments |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
Not Divulged |
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Customers : |
Not Divulged |
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No. of Employees : |
Information declined by the management |
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Bankers : |
· HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel West, Mumbai – 400 013, Maharashtra · Centurion Bank of Punjab Limited, L – 40, Connaught Circus, New Delhi – 110 001, India · State Bank of India, Commercial Branch,Vardhman Trade Centre, P. No 3&4, IInd Floor, Dda Building, Nehru Place, New Delhi - 110019,Delhi, India |
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Facilities : |
SECURED LOANS
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Auditors : |
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Name : |
Shanti Prasad and Company Chartered Accountants |
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Address : |
M-96, |
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Tel. No.: |
91-11-23416000/ 7000 |
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Pan No.: |
AAZFS2102G |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates : |
·
Eagle Mining Products Private Limited ·
Optitech Conveyors Private Limited ·
Rubcon Mining Accessories Private Limited ·
Sun Rise Build More Private Limited |
CAPITAL STRUCTURE
As on 13.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14200000 |
Equity Shares |
Rs.10/- each |
Rs. 142.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
|
9600000 |
Equity Shares |
Rs.10/- each |
Rs. 96.000
Millions |
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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 |
|
|
|
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(a) Share Capital |
97.500 |
97.500 |
97.500 |
|
(b) Reserves & Surplus |
595.771 |
552.104 |
480.414 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
693.271 |
649.604 |
577.914 |
|
|
|
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(3)
Non-Current Liabilities |
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(a) long-term borrowings |
366.306 |
193.731 |
176.742 |
|
(b) Deferred tax liabilities (Net) |
34.500 |
27.850 |
27.070 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.419 |
|
(d) long-term
provisions |
7.042 |
6.969 |
7.088 |
|
Total Non-current
Liabilities (3) |
407.848 |
228.550 |
211.319 |
|
|
|
|
|
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(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
255.052 |
234.122 |
165.969 |
|
(b) Trade
payables |
588.249 |
524.459 |
449.752 |
|
(c) Other
current liabilities |
95.419 |
111.240 |
124.182 |
|
(d) Short-term
provisions |
29.498 |
41.313 |
30.111 |
|
Total Current
Liabilities (4) |
968.218 |
911.134 |
770.014 |
|
|
|
|
|
|
TOTAL |
2069.337 |
1789.288 |
1559.247 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i) Tangible
assets |
679.734 |
627.452 |
589.127 |
|
(ii)
Intangible Assets |
2.414 |
3.510 |
5.164 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
7.968 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.106 |
0.106 |
0.608 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
25.599 |
37.851 |
19.207 |
|
(e) Other
Non-current assets |
11.199 |
13.694 |
20.792 |
|
Total Non-Current
Assets |
719.052 |
682.613 |
642.866 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
435.208 |
298.966 |
342.145 |
|
(c) Trade
receivables |
673.091 |
598.645 |
463.556 |
|
(d) Cash
and cash equivalents |
62.422 |
49.415 |
19.760 |
|
(e)
Short-term loans and advances |
179.564 |
107.268 |
70.271 |
|
(f) Other
current assets |
0.000 |
52.381 |
20.649 |
|
Total
Current Assets |
1350.285 |
1106.675 |
916.381 |
|
|
|
|
|
|
TOTAL |
2069.337 |
1789.288 |
1559.247 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
||
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SALES |
|
|
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||
|
|
|
Income |
2385.890 |
2581.871 |
2499.300 |
|
|
|
|
Other Income |
27.147 |
20.924 |
26.646 |
|
|
|
|
TOTAL (A) |
2413.037 |
2602.795 |
2525.946 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
Cost of Materials Consumed |
1618.352 |
1761.010 |
1745.740 |
|
|
|
|
Purchase of Stock-in-trade |
0.000 |
12.669 |
7.744 |
|
|
|
|
Changes in Inventories of finished goods, work-in-progress and
stock-in-trade |
(44.867) |
12.743 |
62.438 |
|
|
|
|
Employee Benefits Expenses |
136.797 |
112.519 |
95.355 |
|
|
|
|
Other Expenses |
442.997 |
450.064 |
371.890 |
|
|
|
|
Exceptional Items |
(0.443) |
0.596 |
(5.075) |
|
|
|
|
TOTAL (B) |
2152.836 |
2349.601 |
2278.092 |
|
|
|
|
|
|
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||
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
260.201 |
253.194 |
247.854 |
||
|
|
|
|
|
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||
|
Less |
FINANCIAL
EXPENSES (D) |
85.010 |
60.605 |
64.171 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
175.191 |
192.589 |
183.683 |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/
AMORTISATION (F) |
93.470 |
85.460 |
82.751 |
||
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|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
81.721 |
107.129 |
100.932 |
||
|
|
|
|
|
|
||
|
Less |
TAX (H) |
26.822 |
35.439 |
31.224 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS) AFTER
TAX (G-H) (I) |
54.899 |
71.690 |
69.708 |
||
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|
|
|
|
|
||
|
|
EARNINGS IN
FOREIGN CURRENCY |
1335.318 |
977.868 |
1019.205 |
||
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|
|
|
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||
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|
IMPORTS |
|
|
|
||
|
|
|
Raw Materials |
|
|
899.836 |
|
|
|
|
Maintenance Goods |
|
|
5.618 |
|
|
|
|
Capital Goods |
|
|
7.109 |
|
|
|
|
Packing Material |
|
|
0.736 |
|
|
|
TOTAL IMPORTS |
NA |
NA |
913.299 |
||
|
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|
|
|
|
||
|
|
Earnings Per
Share (Rs.) |
5.72 |
7.47 |
7.25 |
||
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
2.30 |
2.78 |
2.79 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT / Sales) |
(%) |
10.91 |
9.81 |
9.92 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.95 |
5.99 |
6.51 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.12 |
0.16 |
0.17 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.90 |
0.66 |
0.59 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.39 |
1.21 |
1.19 |
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 |
97.500 |
97.500 |
97.500 |
|
Reserves & Surplus |
480.414 |
552.104 |
595.771 |
|
Net
worth |
577.914 |
649.604 |
693.271 |
|
|
|
|
|
|
long-term borrowings |
176.742 |
193.731 |
366.306 |
|
Short term borrowings |
165.969 |
234.122 |
255.052 |
|
Total
borrowings |
342.711 |
427.853 |
621.358 |
|
Debt/Equity
ratio |
0.593 |
0.659 |
0.896 |
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 |
2499.300 |
2581.871 |
2385.890 |
|
|
|
3.304 |
-7.591 |
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 |
2499.300 |
2581.871 |
2385.890 |
|
Profit |
69.708 |
71.690 |
54.899 |
|
|
2.79% |
2.78% |
2.30% |
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 |
Yes |
|
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 |
Yes |
|
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 |
LITIGATION DETAILS:
|
IN THE HIGH COURT OF DELHI AT
NEW DELHI Versus FORECH INDIA
LIMITE ..... Defendant List
the pending applications n 13th February, 2015 for consideration. |
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
31.03.2014 Rs. In Millions |
31.03.2013 Rs. In Millions |
|
Long Term Borrowings |
|
|
|
Deposits from
Shareholders |
13.893 |
6.014 |
|
Intercorporate
Deposits |
19.724 |
17.095 |
|
Deposits from
Others |
87.244 |
46.922 |
|
Deposits from
Directors |
137.119 |
100.715 |
|
Total |
257.980 |
170.746 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10292818 |
15/09/2014 * |
653,578,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W |
C25387374 |
|
2 |
10163509 |
23/06/2009 |
190,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH,VARDHMAN TRADE CENTRE, P. NO
3&4 |
A64504954 |
|
3 |
10145666 |
01/09/2014 * |
433,500,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH THE GREAT EASTERN CENTRE, 70,GR |
C21331418 |
|
4 |
10028486 |
01/06/2013 * |
548,578,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W |
B77448637 |
* Date of charge modification
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Moulds
·
Computer
·
Office Equipments
·
Fire Fighting Equipments
·
Furniture and Fixture
·
Cars
·
Vehicles
·
Air Pollution Equipments
·
Testing Equipments
·
Crane Escort
·
Boiler Thermax
·
ERP 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.62.44 |
|
|
1 |
Rs.98.15 |
|
Euro |
1 |
Rs.77.38 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
ASH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--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 |
YES |
|
--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 |
|
48 |
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.