MIRA INFORM REPORT
|
Report No. : |
309222 |
|
Report Date : |
25.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
INDORE COMPOSITE PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Unit No. 318, 319, 320, Creative Industrial Estate, N. M. Joshi Marg,
Lower Parel, Mumbai – 400011, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
07.04.1994 |
|
|
|
|
Com. Reg. No.: |
11-077596 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 9.002 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25209MH1994PTC077596 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMI02282A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACI1091A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer and Exporter of FRP Rod. |
|
|
|
|
No. of Employees
: |
190 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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|
|
|
Payment Behaviour : |
Slow but correct |
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|
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|
Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. The company has reported decent profitability for 2013-14. However,
borrowings seems to have increased considerably. Trade relations are fair. Business is active. Payment terms are
reported to be slow but correct. The company can be considered for business dealings at usual trade
terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank facilities (BB+) |
|
Rating Explanation |
Inadequate credit quality and high credit
risk. |
|
Date |
September 2014 |
|
|
|
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities` (A4+) |
|
Rating Explanation |
Minimal degree of safety very high credit
risk. |
|
Date |
September 2014 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Desai |
|
Designation : |
HOD Account and Finance |
|
Contact No.: |
91-22-61452700 |
|
Date : |
23.02.2015 |
LOCATIONS
|
Registered Office/Corporate Office: |
Unit No. 318, 319 and 320, Creative Industrial Estate, N.M. Joshi
Marg, Lower Parel, Mumbai – 400011, Maharashtra, India |
|
Tel. No.: |
91-22-61452700 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory 1 : |
S-4/2, Sector-1, Pithampur - 454775, Dhar, Madhya Pradesh, India |
|
Tel. No.: |
91-7292-666600 |
|
Location : |
Owned |
|
|
|
|
Factory 2 : |
Plot No. N - 50, MIDC, Ambernath, Anand Nagar, Ambernath (East) -
421506, Maharashtra, India |
|
Tel. No.: |
91-251-6540950 |
|
Location : |
Owned |
|
|
|
|
Factory 3 : |
Plot No.03, S-86/5/1/P3, OHM Industrial Infrastructure Park, New Expansion,
GIDC, Umbergaon, District Valsad - 396171, Gujarat, India |
|
Tel. No.: |
91-260-2564491 |
DIRECTORS
As on: 22.08.2014
|
Name : |
Mr. Mukesh Jethmal Sanghvi |
|
Designation : |
Director |
|
Address : |
801, Jogani Apartments Sanghvi, |
|
Date of Birth : |
19.12.1962 |
|
Date of Appointment : |
07.04.1994 |
|
DIN No.: |
00334136 |
|
|
|
|
Name : |
Mr. Shailesh Jethmal Sanghvi |
|
Designation : |
Director |
|
Address : |
801 Jogani Apartments Sanghvi, Doongarshi Road Walkeshwar,
Mumbai-400 006, Maharashtra, India |
|
Date of Birth : |
20.08.1968 |
|
Date of Appointment : |
01.04.2002 |
|
DIN No.: |
00194775 |
|
|
|
|
Name : |
Mr. Vallabh Roopchand Bhanshali |
|
Designation : |
Director |
|
Address : |
12 Laxmi Niwas Bhanshali, |
|
Date of Birth : |
04.03.1951 |
|
Date of Appointment : |
01.04.2002 |
|
DIN No.: |
00184775 |
|
|
|
|
Name : |
Mr. Mangal Roopchand Bhanshali |
|
Designation : |
Director |
|
Address : |
12, Laxmi Niwas Bhanshali, |
|
Date of Birth : |
26.03.1954 |
|
Date of Appointment : |
07.04.1994 |
|
DIN No.: |
01176442 |
KEY EXECUTIVES
|
Name : |
Mr. Desai |
|
Designation : |
HOD Account and Finance |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 22.08.2014
|
Names of Shareholders |
|
No. of Shares |
|
Mukesh Jatmal Sanghvi |
|
485200 |
|
Mangal Roopchand Bhanshali |
|
300200 |
|
Vallabh Roopchand Bhanshali |
|
300000 |
|
Lata M Bhanshali |
|
300000 |
|
Jatmal M Sanghvi |
|
115000 |
|
Kamala J Sanghvi |
|
80000 |
|
Neena M Sanghvi |
|
80000 |
|
Meena M Sanghvi |
|
80000 |
|
Jatmal M Sanghvi (HUF) |
|
60000 |
|
|
|
|
|
Total |
|
1800400 |
Equity Share Break up (Percentage of Total Equity)
As on: 22.08.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of FRP Rod. |
|
|
|
|
Products : |
FRP Rod. |
|
|
|
|
Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
|
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Products : |
Finished Goods |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
China |
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Terms : |
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Selling : |
Credit |
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Purchasing : |
Credit |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Wholesalers and Retailers
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No. of Employees : |
190 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
|
|
Name : |
Jain and Bafna Chartered Accountants |
|
Address : |
5, First Ganeshwadi, 4th Floor, Zaveri Bazar, Mumbai - 400002,
Maharashtra, India |
|
Tel. No.: |
91-22-22403848 |
|
PAN No.: |
AAAFJ1912E |
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|
|
|
Memberships : |
Not Available |
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|
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|
Collaborators : |
Not Available |
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|
|
|
Associates/Subsidiaries : |
Not Divulged |
CAPITAL STRUCTURE
As on 22.08.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 20.0000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,800,400 |
Equity Shares |
Rs.10/- each |
Rs. 18.004
Millions |
|
|
|
|
|
As on: 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
900200 |
Equity Shares |
Rs.10/- each |
Rs.9.002 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
9.002 |
9.002 |
9.002 |
|
(b) Reserves & Surplus |
215.081 |
172.268 |
123.284 |
|
(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) |
224.083 |
181.270 |
132.286 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
26.939 |
1.500 |
2.500 |
|
(b) Deferred tax liabilities (Net) |
9.015 |
3.813 |
0.000 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
35.954 |
5.313 |
2.500 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short term borrowings |
206.326 |
141.272 |
251.421 |
|
(b) Trade payables |
85.659 |
69.679 |
52.327 |
|
(c) Other current liabilities |
1.788 |
1.532 |
1.133 |
|
(d) Short-term provisions |
21.605 |
11.613 |
5.989 |
|
Total Current
Liabilities (4) |
315.378 |
224.096 |
310.870 |
|
|
|
|
|
|
TOTAL |
575.415 |
410.679 |
445.656 |
|
|
|
|
|
|
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
164.657 |
130.207 |
145.773 |
|
(ii) Intangible Assets |
0.962 |
1.136 |
1.342 |
|
(iii) Capital work-in-progress |
1.527 |
7.537 |
1.122 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
21.450 |
21.450 |
21.450 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
5.787 |
|
(d) Long-term Loan and Advances |
33.512 |
27.859 |
27.983 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
222.108 |
188.189 |
203.457 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
94.762 |
62.169 |
78.562 |
|
(c) Trade receivables |
188.182 |
117.083 |
130.320 |
|
(d) Cash and cash equivalents |
5.037 |
8.410 |
6.090 |
|
(e) Short-term loans and advances |
65.326 |
34.828 |
27.227 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current
Assets |
353.307 |
222.490 |
242.199 |
|
|
|
|
|
|
TOTAL |
575.415 |
410.679 |
445.656 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
517.453 |
431.264 |
|
|
|
Other Income |
|
24.386 |
5.512 |
|
|
|
TOTAL |
601.754 |
541.839 |
436.776 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
|
312.689 |
317.074 |
|
|
|
Changes in inventories of finished goods, work-in-progress |
|
6.534 |
2.897 |
|
|
|
Other Manufacturing Expenses |
|
45.990 |
46.796 |
|
|
|
Employee Benefit Expenses |
|
20.634 |
15.460 |
|
|
|
Other Administrative Expenses |
|
12.846 |
13.313 |
|
|
|
Selling and Distribution Expenses |
|
33.832 |
30.823 |
|
|
|
TOTAL |
539.385 |
432.525 |
426.363 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
|
109.314 |
10.413 |
|
|
|
|
(Including
Financial and Depreciation Expenses) |
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
26.971 |
30.359 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
82.343 |
(19.946) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
17.047 |
18.778 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
62.639 |
65.296 |
(38.724) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
19.022 |
16.312 |
(4.897) |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
43.022 |
48.984 |
(33.827) |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
47.79 |
54.41 |
(37.58) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
7.15 |
9.47 |
(7.84) |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
NA |
21.13 |
2.41 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.29 |
17.11 |
(9.28) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.28 |
0.36 |
(0.29) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.04 |
0.79 |
1.92 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.12 |
0.99 |
0.78 |
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 |
9.002 |
9.002 |
9.002 |
|
Reserves & Surplus |
123.284 |
172.268 |
215.081 |
|
Net worth |
132.286 |
181.270 |
224.083 |
|
|
|
|
|
|
long-term borrowings |
2.500 |
1.500 |
26.939 |
|
Short term borrowings |
251.421 |
141.272 |
206.326 |
|
Total borrowings |
253.921 |
142.772 |
233.265 |
|
Debt/Equity ratio |
1.919 |
0.788 |
1.041 |
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) |
|
Total Income |
436.776 |
541.839 |
601.754 |
|
|
|
24.054 |
11.058 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
436.776 |
541.839 |
601.754 |
|
Profit |
(33.827) |
48.984 |
43.022 |
|
|
(7.74%) |
9.04% |
7.15% |
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 |
No |
|
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) |
Yes |
|
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 |
Yes |
Note: Registered Office
of the company has been shifted from “4th Floor, Sethna Building, 55, Maharshi
Karve Road, Mumbai – 400002, Maharashtra, India” to the present address.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2014 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
Short-term
borrowings |
|
|
|
Loan from Related parties -(Unsecured) |
79.207 |
33.940 |
|
Total |
79.207 |
33.940 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10036474 |
18/03/2014 * |
245,000,000.00 |
STATE BANK OF INDIA |
SIR P.M ROAD, FORT., MUMBAI, MAHARASHTRA - 400001, INDIA |
C04279402 |
|
2 |
90159533 |
04/06/1996 |
18,760,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, APOLLO TOWER; M.G. RAOD, INDORE, MADHYA PRADESH, INDIA |
- |
Note: * Date of charge modification
FIXED ASSETS
Tangible Assets
- Land
- Office Building
- Factory Building
- Staff Quarters
- Plant and Machineries
- Electrical Fittings
- Computers
- Furniture and Fixtures
- Office Equipments
- Vehicles
Intangible
Assets
- Technical Know-how
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.62.28 |
|
|
1 |
Rs.96.20 |
|
Euro |
1 |
Rs.70.60 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
SUC |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
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 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
44 |
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.