MIRA INFORM REPORT
|
Report No. : |
308389 |
|
Report Date : |
19.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
HEC INFRA PROJECTS LIMITED (w.e.f. 01.10.2014) |
|
|
|
|
Formerly known
as : |
HEC INFRA PROJECTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Sigma-1, Corporate House No.6, Sindhu Bhavan Road, Near Mann Party
Plot Cross Road, Bodakdev, Ahmedabad - 380054, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
06.10.2005 |
|
|
|
|
Com. Reg. No.: |
04-046870 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 14.888 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L45200GJ2005PLC046870 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMH02177A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCH6492H |
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|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Service Provider for EPC Contractors. |
|
|
|
|
No. of Employees
: |
60 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
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 |
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|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having satisfactory track record. Financial position of the company seems to be decent. Trade relations are reported to be fair. Business is active. Payment
terms are reported to be usually correct. The company can be considered normal for business dealing at usual
trade terms and conditions. Note : The shares of the subject company are not traded from last 30 days. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
SME 3 |
|
Rating Explanation |
Above average and low credit risk. |
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
|
Name : |
Mr. Dhaval Shah |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-79-40086771 |
|
Date : |
16.02.2014 |
LOCATIONS
|
Registered Office : |
Sigma-1, Corporate House No.6, Sindhu Bhavan Road, Near Mann Party
Plot Cross Road, Bodakdev, Ahmedabad - 380054, Gujarat, India |
|
Tel. No.: |
91-79-40086771 / 72 / 73 / 74 / 75 / 76 |
|
Fax No.: |
91-79-40086771 |
|
E-Mail : |
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|
Website : |
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|
Location : |
Owned |
DIRECTORS
As on: 30.09.2014
|
Name : |
Mr. Gaurag Parmanand Shah |
|
Designation : |
Director |
|
Address : |
22, Shivalik Villa, Near Saundarya Vila, Rajpath Club, Ambli Road,
Ahmedabad – 380058, Gujarat, India |
|
Date of Birth/Age : |
05.08.1963 |
|
Date of Appointment : |
06.10.2005 |
|
Voter ID : |
LBR6733497 |
|
DIN No.: |
01756079 |
|
|
|
|
Name : |
Ms. Rupal Gaurang Shah |
|
Designation : |
Director |
|
Address : |
22, Shivalik Villa, Near Saundarya Vila, Rajpath Club, Ambli Road,
Ahmedabad – 380 058, Gujarat, India |
|
Date of Birth/Age : |
18.11.1966 |
|
Date of Appointment : |
06.10.2005 |
|
Voter ID : |
LBR6733976 |
|
DIN No.: |
01756092 |
|
Name : |
Aniruddhasnh Harendrasinh Gohil |
|
Designation : |
Additional director |
|
Address : |
29, Vrajnandan Bunglow, Part – 1, Ghuma, Ahmedabad – 380058, Gujarat,
India |
|
Date of Birth/Age : |
18.01.1967 |
|
Date of Appointment : |
11.09.2014 |
|
DIN No.: |
06971592 |
|
|
|
|
Name : |
Yogesh Popatlal Shah |
|
Designation : |
Additional director |
|
Address : |
4, BK Nagar Society, P.T. Collage, Paldi, Ahmedabad – 380007, Gujarat,
India |
|
Date of Birth/Age : |
11.12.1947 |
|
Date of Appointment : |
11.09.2014 |
|
DIN No.: |
06971596 |
KEY EXECUTIVES
|
Name : |
Mr. Dhaval Shah |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2014
|
Names of Equity Shareholders |
No. of Shares |
|
Gaurag Parmanand Shah |
1147200 |
|
Rupal Gaurang Shah |
231000 |
|
Rupal Gaurang Shah Jointly with Gaurag Parmanand Shah |
12400 |
|
Unnati Vikram Shah |
4132 |
|
Rupal Gaurang |
100 |
|
Vikram Parmanand Shah |
100 |
|
Keval Vikram Shah |
100 |
|
Swati Bijoy Shah |
100 |
|
Dhaval Chandravadan Shah |
100 |
|
Pannalal J Surti |
100 |
|
Paras Engen India Private limited, India |
93500 |
|
|
|
|
TOTAL
|
1488832 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2014
|
Category |
Percentage |
|
Bodies corporate |
6.28 |
|
Directors or relatives of Directors |
93.69 |
|
Other top fifty shareholders |
0.03 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Service Provider for EPC Contractors. |
|
|
|
|
Brand Names : |
Not Divulged |
|
|
|
|
Agencies Held : |
Not Divulged |
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|
|
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Exports : |
Not Divulged |
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|
|
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Imports : |
Not Divulged |
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Terms : |
|
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Selling : |
Cash, Credit |
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|
|
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Purchasing : |
Cash, Credit |
GENERAL INFORMATION
|
Suppliers : |
Not Divulged |
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Customers : |
End Users |
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No. of Employees : |
60 (Approximately) |
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Bankers : |
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Facilities : |
Fund and Non Fund = Rs.200.000 Millions
Note : The secured corporate loan and cash credit facilities from Bank are
secured against all stocks, book debts, Plant and Machineries and other
assets of the company with a collateral security by directors of the company.
The above includes Rs.8.692 Millions being purchase assistance from National
Small Industries Corporation (NSIC) secured against bank guarantee. |
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|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Raj P Shah and Company Chartered Accountant |
|
Address : |
C-802, Sankalp Apartment, Opposite L J College, Vastrapur – 380 015,
Ahmedabad-380015, Gujarat, India |
|
Contact No.: |
91-79-40036618 / 26769858 |
|
Email: |
|
|
PAN No.: |
ABIPS3379M |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
CAPITAL STRUCTURE
AS ON: 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,500,000 |
Equity Shares |
Rs.10/- each |
Rs.15.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,488,832 |
Equity Shares |
Rs.10/- each |
Rs.14.888
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 |
14.888 |
7.912 |
7.912 |
|
(b) Reserves & Surplus |
86.366 |
84.158 |
74.634 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.495 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
101.254 |
92.565 |
82.546 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
59.515 |
62.576 |
56.349 |
|
(b) Deferred tax liabilities
(Net) |
3.461 |
2.521 |
2.759 |
|
(c) Other long term
liabilities |
0.601 |
0.601 |
0.601 |
|
(d) long-term provisions |
1.439 |
1.207 |
0.935 |
|
Total
Non-current Liabilities (3) |
65.016 |
66.905 |
60.644 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
194.930 |
145.152 |
120.969 |
|
(b) Trade payables |
167.320 |
125.781 |
147.892 |
|
(c) Other current liabilities |
11.110 |
11.183 |
11.596 |
|
(d) Short-term provisions |
24.191 |
18.583 |
8.297 |
|
Total
Current Liabilities (4) |
397.551 |
300.699 |
288.754 |
|
|
|
|
|
|
TOTAL |
563.821 |
460.169 |
431.944 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
31.648 |
31.987 |
33.627 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(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 |
7.045 |
3.070 |
4.360 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current assets |
63.960 |
55.765 |
53.829 |
|
Total
Non-Current Assets |
102.653 |
90.822 |
91.816 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
48.180 |
33.430 |
35.671 |
|
(c) Trade receivables |
237.227 |
275.832 |
251.637 |
|
(d) Cash and cash equivalents |
14.912 |
12.273 |
25.618 |
|
(e) Short-term loans and
advances |
0.000 |
0.000 |
0.000 |
|
(f) Other current assets |
160.849 |
47.812 |
27.202 |
|
Total
Current Assets |
461.168 |
369.347 |
340.128 |
|
|
|
|
|
|
TOTAL |
563.821 |
460.169 |
431.944 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
604.611 |
597.138 |
572.922 |
|
|
Other Income |
4.961 |
9.272 |
6.239 |
|
|
TOTAL
(A) |
609.572 |
606.410 |
579.161 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Purchases of Stock-in-Trade |
448.383 |
411.197 |
427.830 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(14.750) |
2.241 |
3.398 |
|
|
Employees benefits expense |
28.084 |
23.102 |
16.685 |
|
|
Other expenses |
102.145 |
126.392 |
92.223 |
|
|
Depreciation written back |
0.000 |
0.000 |
(5.042) |
|
|
Profit on sale of assets |
0.000 |
(0.009) |
0.000 |
|
|
Extraordinary Items |
0.000 |
0.000 |
0.120 |
|
|
TOTAL
(B) |
563.862 |
562.923 |
535.214 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION (C) |
45.710 |
43.487 |
43.947 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES
(D) |
27.877 |
26.711 |
24.886 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
17.833 |
16.776 |
19.061 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
1.769 |
1.782 |
1.611 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
16.064 |
14.994 |
17.450 |
|
|
|
|
|
|
|
Less |
TAX
(H) |
5.955 |
4.546 |
6.151 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
10.109 |
10.448 |
11.299 |
|
|
|
|
|
|
|
|
Earnings
Per Share (Rs.) |
14.49 |
14.98 |
16.20 |
Expected Sales ( 2014-2015 ) : Rs.800.000 Millions
The above information has been parted by Mr. Dhaval Shah.
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin |
(%) |
1.67 |
1.75 |
1.97 |
|
|
|
|
|
|
|
Operating Profit Margin |
(%) |
7.56 |
7.28 |
7.67 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.89 |
3.28 |
4.08 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16 |
0.16 |
0.21 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.51 |
2.24 |
2.15 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.16 |
1.23 |
1.18 |
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 |
7.912 |
7.912 |
14.888 |
|
Reserves & Surplus |
74.634 |
84.158 |
86.366 |
|
Share Application money pending allotment |
0.000 |
0.495 |
0.000 |
|
Net worth |
82.546 |
92.565 |
101.254 |
|
|
|
|
|
|
long-term borrowings |
56.349 |
62.576 |
59.515 |
|
Short term borrowings |
120.969 |
145.152 |
194.930 |
|
Total borrowings |
177.318 |
207.728 |
254.445 |
|
Debt/Equity ratio |
2.148 |
2.244 |
2.513 |
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 |
572.922 |
597.138 |
604.611 |
|
|
|
4.227 |
1.251 |
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 |
572.922 |
597.138 |
604.611 |
|
Profit |
11.299 |
10.448 |
10.109 |
|
|
1.97% |
1.75% |
1.67% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS: NOT AVAILABLE
|
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 |
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 |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
No |
|
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 |
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 |
NOTE:
Registered office has been shifted from 403, 404, Super Plaza Complex, Near Sandesh Press, Vastrapur, Ahmedabad – 380 015, Gujarat, India to the present address w.e.f. 01.10.2010.
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
Long Term
Borrowings |
|
|
|
From Shareholders and Directors, Friends and Relatives |
34.148 |
27.148 |
|
|
|
|
|
Total |
34.148 |
27.148 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10183398 |
15/11/2014 * |
281,700,000.00 |
BANK OF INDIA |
AHMEDABAD MAIN BRANCH, MEZZANINE FLOOR, BANK OF I |
C35876788 |
|
2 |
10183390 |
17/12/2014 * |
300,000,000.00 |
BANK OF INDIA |
AHMEDABAD MAIN BRANCH, MEZZANINE FLOOR, BANK OF I |
C40589756 |
Note: * Date of charge modification
FIXED ASSETS
· Air Conditioners
· Computer
· Furniture
· Motor Cycle
· Office Equipments
· Vehicle
· Building
· Plant and machinery
· 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.62.25 |
|
|
1 |
Rs.95.57 |
|
Euro |
1 |
Rs.71.01 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
47 |
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.