MIRA INFORM REPORT
|
Report No. : |
300952 |
|
Report Date : |
06.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
ACTION ISPAT AND POWER PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
5th Floor, Block A ITL, Twin Tower, Netaji Subhash Place, Pitam
Pura, New New Delhi -110034 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
01.07.2004 |
|
|
|
|
Com. Reg. No.: |
55-127305 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.2354.745 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27109DL2004PTC127305 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
DELA14984E |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Available |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing of Sponge Iron, MS Billet and engaged in
generation and sale of Power. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 6300000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. The company has incurred a loss from its operations during 2014. However, trade relation are fair. Business is active. Payment terms
are reported to be slow but correct. The company can be considered for business dealings with some
cautions. |
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank facilities: B- |
|
Rating Explanation |
Have high risk of default. |
|
Date |
29.09.2014 |
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.
LOCATIONS
|
Registered Office: |
5th Floor, Block A ITL, Twin Tower, Netaji Subhash Place,
Pitam Pura, New Delhi-110034, New Delhi, India. |
|
Tel. No.: |
91-11-7356249/27352817/27355816/27005000/27005001/27005002/30014900 |
|
Fax No.: |
91-11-27357186 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory: |
Pandripadhar and Marakota,
District Jharsuguda 768202, Orissa, India |
|
Tel. No.: |
91-6645-214028 |
|
Fax No.: |
91-6645-214026 |
|
E-Mail : |
DIRECTORS
As on 15.09.2014
|
Name : |
Mr. NareshKumar Aggarwal |
|
Designation : |
Managing director |
|
Address : |
15/17 East Punjabi Bagh, New Delhi-110026, |
|
Date of Birth/Age : |
12.09.1954 |
|
Date of Appointment : |
01.07.2004 |
|
DIN No.: |
00014342 |
|
PAN No.: |
AACPA7860Q |
|
|
|
|
Name : |
Mr. Pradeep Shankar |
|
Designation : |
Director |
|
Date of Birth/Age : |
18.10.1948 |
|
Date of Appointment : |
15.05.2013 |
|
DIN No.: |
02179835 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 15.09.2014
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Naresh Aggarwal |
|
26275000 |
|
Mange Ram Aggarwal |
|
125000 |
|
Nikhil Footwears Private Limited, India |
|
600000 |
|
Micro Stock Holding Private Limited, India |
|
34974469 |
|
M G Finvest Private Limited, India |
|
43500000 |
|
Total |
|
105474469 |
|
Names of Shareholders (Preference Shares) |
|
No. of Shares |
|
Micro Stock Holding Private Limited, India |
|
300000000 |
|
M G Finvest Private Limited, India |
|
1000000000 |
|
Total |
|
1300000000 |
Equity Share Break up (Percentage of Total Equity)
As on 15.09.2014
|
Category |
Percentage |
|
Bodies corporate |
74.97 |
|
Directors or relatives of Directors |
25.03 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Sponge Iron, MS Billet and engaged in
generation and sale of Power. |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
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|
|
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Exports : |
Not Available |
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|
|
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Imports : |
Not Available |
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|
|
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Terms : |
Not Available |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
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Banking
Relations : |
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|
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Financial Institute: |
S B I Cap Trustee Company Limited, 202, Maker Tower, 'E',
Cuffe Parade, Colaba,, Mumbai - 400005, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
Brijendra and Company Chartered Accountants |
|
Address : |
76 Darya Ganj, Ground Floor, New Delhi -110002, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAEFB0949H |
|
|
|
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Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Enterprises which
are owned, or have
significant influence of or are
partners with Key management personnel and their relatives: |
|
CAPITAL STRUCTURE
AFTER 15.09.2014
Authorised Capital : Rs. 3120.000 Millions
Issued, Subscribed & Paid-up Capital : Rs. 3038.595
Millions
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
129000000 |
Equity Shares |
Rs.10/- each |
Rs. 1290.000 Millions |
|
133000000 |
Preference Shares |
Rs.10/- each |
Rs. 1330.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 2620.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
105474469 |
Equity Shares |
Rs.10/- each |
Rs. 1054.745 Millions |
|
130000000 |
Preference Shares |
Rs.10/- each |
Rs. 1300.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 2354.745
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 |
2354.745 |
734.745 |
620.000 |
|
(b) Reserves & Surplus |
(245.524) |
305.935 |
810.555 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
98.850 |
300.000 |
500.000 |
|
Total
Shareholders’ Funds (1) + (2) |
2208.071 |
1340.680 |
1930.555 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
10371.302 |
9564.984 |
8919.133 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
142.207 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
18.275 |
14.213 |
11.895 |
|
Total
Non-current Liabilities (3) |
10389.577 |
9579.197 |
9073.235 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1126.152 |
1750.802 |
906.140 |
|
(b) Trade payables |
361.880 |
344.498 |
304.609 |
|
(c) Other current liabilities |
714.750 |
698.191 |
1181.848 |
|
(d) Short-term provisions |
29.262 |
15.334 |
31.720 |
|
Total
Current Liabilities (4) |
2232.044 |
2808.825 |
2424.317 |
|
|
|
|
|
|
TOTAL |
14829.692 |
13728.702 |
13428.107 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
6010.676 |
6366.192 |
3800.279 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
3876.825 |
3468.635 |
5461.592 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
467.697 |
187.077 |
0.000 |
|
(d) Long-term Loan and Advances |
2382.380 |
2395.032 |
2427.293 |
|
(e) Other Non-current assets |
21.308 |
25.954 |
16.033 |
|
Total
Non-Current Assets |
12758.886 |
12442.890 |
11705.197 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
866.078 |
319.552 |
569.678 |
|
(c) Trade receivables |
750.435 |
645.150 |
67.768 |
|
(d) Cash and cash equivalents |
44.022 |
26.050 |
139.833 |
|
(e) Short-term loans and
advances |
235.661 |
217.883 |
815.088 |
|
(f) Other current assets |
174.610 |
77.177 |
130.543 |
|
Total
Current Assets |
2070.806 |
1285.812 |
1722.910 |
|
|
|
|
|
|
TOTAL |
14829.692 |
13728.702 |
13428.107 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Gross Turnover |
3254.005 |
3134.976 |
3421.689 |
|
|
Other Income |
NA |
NA |
NA |
|
|
TOTA |
NA |
NA |
NA |
|
|
|
|
|
|
|
Less |
EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
229.978 |
(46.390) |
NA |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
700.700 |
573.937 |
334.275 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(470.722) |
(620.327) |
NA |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
361.356 |
298.832 |
173.252 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
(832.078) |
(919.159) |
NA |
|
|
|
|
|
|
|
Less |
TAX |
(280.619) |
(329.284) |
NA |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
(551.459) |
(589.875) |
NA |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
(6.76) |
(9.11) |
NA |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(7.94) |
(9.12) |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.38) |
(0.69) |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
5.21 |
8.44 |
5.09 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.93 |
0.46 |
0.71 |
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 |
620.000 |
734.745 |
2354.745 |
|
Reserves & Surplus |
810.555 |
305.935 |
(245.524) |
|
Net
worth |
1430.555 |
1040.680 |
2109.221 |
|
|
|
|
|
|
long-term borrowings |
8919.133 |
9564.984 |
10371.302 |
|
Short term borrowings |
906.140 |
1750.802 |
1126.152 |
|
Total
borrowings |
9825.273 |
11315.786 |
11497.454 |
|
Debt/Equity
ratio |
6.868 |
10.873 |
5.451 |
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) |
|
Gross Turnover |
3421.689 |
3134.976 |
3254.005 |
|
|
|
(8.379) |
3.797 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Gross Turnover |
3134.976 |
3254.005 |
|
Profit |
(589.875) |
(551.459) |
|
|
(18.82%) |
(16.95%) |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
NATURE OF OPERATIONS
Subject is incorporated in India on July 1, 2004. The Company is engaged in the manufacturing of Sponge Iron, MS Billet and engaged in generation and sale of Power. The Company is having its registered office in New Delhi with manufacturing unit in Jharsuguda, Odisha.
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
Long-term
Borrowings |
|
|
|
Loans and advances from related parties |
2666.021 |
3625.100 |
|
Other loans and advances, others |
0.000 |
0.392 |
|
Total |
2666.021 |
3625.492 |
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10454349 |
30/09/2013 |
10,515,100,000.00 |
S B I CAP TRUSTEE COMPANY LIMITED |
202, MAKER TOWER, 'E', CUFFE PARADE,, COLABA, MUMBAI, MAHARASHTRA - 400005, INDIA |
B87238564 |
|
2 |
10371631 |
29/06/2012 |
150,000,000.00 |
STATE BANK OF BIKANER & JAIPUR |
LAWRENCE ROAD,
INDUSTRIAL AREA, DELHI, DELHI - 11 |
B56077886 |
|
3 |
10329602 |
11/08/2012 * |
3,071,300,000.00 |
PUNJAB NATIONAL BANK |
NSIC BHAWAN, OKHLA INDUSTRIAL ESTATE, NEW DELHI, DELHI - 110020, INDIA |
B58375023 |
|
4 |
10270817 |
02/02/2011 |
100,000,000.00 |
AXIS BANK LTD. |
4/10, OPG HOUSE, ASAF
ALI ROAD, NEW DELHI, DELHI |
B07094386 |
|
5 |
10244640 |
16/12/2010 * |
1,954,800,000.00 |
PUNJAB NATIONAL BANK |
NSIC BHAWAN, OKHLA
INDUSTRIAL ESTATE, NEW DELHI, |
B02643427 |
|
6 |
10214342 |
16/12/2010 * |
750,000,000.00 |
CANARA BANK |
PRIME CORPORATE BRANCH-II, 2ND FLOOR,, WORLD TRADE TOWER, BARAKHAMBA LANE, NEW DELHI, DELHI - 110001, INDIA |
B04239802 |
|
7 |
10209328 |
16/12/2010 * |
500,000,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE
BRANCH , 14TH FLOOR,, JAWAHAR |
B04240016 |
|
8 |
10207796 |
16/12/2010 * |
537,500,000.00 |
STATE BANK OF PATIALA |
COMMERCIAL BRANCH,
CHANDRALOK BUILDING, 36 JANPAT |
B05217989 |
|
9 |
10189207 |
23/10/2009 |
200,000,000.00 |
STATE BANK OF INDORE |
COMMERCIAL BRANCH,
M-47, CONNAUGHT PLACE, NEW DEL |
A74634544 |
|
10 |
10150465 |
22/07/2009 * |
986,600,000.00 |
STATE BANK OF INDORE (LEAD BANK) |
M-47, CONNAUGHT
CIRCUS, NEW DELHI, DELHI - 110001, |
A69630424 |
* Date of charge modification
CONTINGENT
LIABILITIES:
(Rs. in millions)
|
PARTICULARS |
31.03.2014 |
|
|
|
|
Claim against the Company not acknowledged as debt * |
|
|
Excise and Service Tax demands under dispute/appeal |
112.472 |
|
Vat/Entry Tax/Water Cess matters under dispute/appeal |
28.164 |
|
*Based on discussions with the solicitors / favourable decisions in similar cases/legal opinions taken by the Company, the management believes that the Company has a good chance of success in above-mentioned cases and hence, no provision there against is considered necessary |
|
|
Bank Guarnatees |
91.385 |
FIXED ASSETS
Tangible assets
- Land
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipments
- Other equipments
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 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.63.39 |
|
|
1 |
Rs.96.85 |
|
Euro |
1 |
Rs.75.67 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
26 |
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.