MIRA INFORM REPORT
|
Report No. : |
297609 |
|
Report Date : |
12.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
OHMARK CONTROLS PRIVATE LIMITED |
|
|
|
|
Registered Office
: |
Survey No.138/ 1, Block 1, Kadabagere Cross, Magadi Main Road,
Machohalli Village, Dasanapura Hobli, Bangalore – 560 091, Karnataka |
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Country : |
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|
|
|
Financials (as
on) : |
31.03.2013 |
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|
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Date of
Incorporation : |
11.07.1983 |
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|
|
|
Com. Reg. No.: |
08-005430 |
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|
|
Capital
Investment / Paid-up Capital : |
Rs.0.869
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45309KA1983PTC005430 |
|
|
|
|
IEC No.: |
Not Available |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRO00067E |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
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Line of Business
: |
Manufacturer and Exporter of motor controls and a complete
range of resistors with associated switching panels. |
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|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
||
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
|
Maximum Credit Limit : |
USD 43000 |
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|
|
|
Status : |
Satisfactory |
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|
|
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a satisfactory track record. 23AC for the year 2014 could not be made available from any source. Profit and sales turnover of the company appears to be decent. General
financial position of the company appears to be sound and healthy. Trade relations are reported as fair. Business is active. Payment
terms are usually 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 : 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 |
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 BY
|
Name : |
Mr. S. Dakshinamoorthy |
|
Designation : |
Director |
|
Contact No.: |
91-9845413491 |
|
Date : |
05.01.2014 |
LOCATIONS
|
Registered Office/ Factory : |
Survey No.138/ 1, Block 1, Kadabagere Cross, Magadi Main Road, Machohalli
Village, Dasanapura Hobli, Bangalore – 560091, Karnataka, India |
|
Tel. No.: |
91-80-28536494 / 64506780 /
64506781 / 23480398 |
|
|
91-9845413491 (Mr. S.
Dakshinamoorthy) |
|
Fax No.: |
91-80-28536454 / 23488619 |
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E-Mail : |
|
|
Area : |
10000 sq ft |
|
Location : |
Owned |
DIRECTORS
AS ON 29.09.2014
|
Name : |
Mr. |
|
Designation : |
Director |
|
Address : |
No.1 D, |
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Date of Birth/Age : |
08.05.1966 |
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Qualification : |
ITI |
|
Date of Appointment : |
27.06.2003 |
|
DIN No.: |
00168408 |
|
|
|
|
Name : |
Mr. Dakshinamoorthy Subramani |
|
Designation : |
Director |
|
Address : |
L – 14, Kirloskar Colony, 3rd Main, 3rd Stage,
Kamalanagar, |
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Date of Birth/Age : |
10.06.1974 |
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Qualification : |
AME/ Diploma |
|
Date of Appointment : |
27.06.2003 |
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DIN No.: |
00168464 |
|
|
|
|
Name : |
Mr. |
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Designation : |
Director |
|
Address : |
81, Chaitanaya Ram, Sathyanarayana Layout, Basaveshwarnagar, |
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Date of Birth/Age : |
18.10.1970 |
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Qualification : |
ITI |
|
Date of Appointment : |
27.06.2003 |
|
DIN No.: |
00481708 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.09.2013
|
Names of Shareholders |
No. of Shares |
%age |
|
S. Dakshinamoorthy |
31562 |
36.33 |
|
B.R. Bhaskar |
31563 |
36.33 |
|
B.M. Gopalakrishna |
11875 |
13.67 |
|
Padma Murthy |
11875 |
13.67 |
|
|
|
|
|
Total
|
86875 |
100.00 |
AS ON 28.09.2013
Equity Share Breakup
|
Category |
Percentage of Holding |
|
Directors
or relatives of directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Designer of motor controls and a complete
range of resistors with associated switching panels. |
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Products : |
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GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
v
Canara Bank, Rajaji Nagar, III Block, v
State Bank of |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
MSSV and Company Chartered Accountants |
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Address : |
2nd Floor, No.63/ 2, |
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PAN
No.: |
AABFM1529R |
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Memberships : |
-- |
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Collaborators : |
-- |
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Associates /
Subsidiaries : |
Nil |
CAPITAL STRUCTURE
AS ON 29.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
86875 |
Equity Shares |
Rs.10/- each |
Rs.0.869
Million |
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|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND
LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
0.869 |
0.869 |
0.869 |
|
(b) Reserves & Surplus |
14.094 |
10.375 |
7.553 |
|
(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) |
14.963 |
11.244 |
8.422 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a)
long-term borrowings |
8.997 |
5.597 |
2.946 |
|
(b) Deferred
tax liabilities (Net) |
0.179 |
0.192 |
0.202 |
|
(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) |
9.176 |
5.789 |
3.148 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
2.332 |
1.543 |
2.124 |
|
(b) Trade payables |
28.209 |
39.707 |
35.066 |
|
(c) Other current liabilities |
3.787 |
2.871 |
3.036 |
|
(d) Short-term provisions |
1.695 |
1.329 |
1.004 |
|
Total Current Liabilities (4) |
36.023 |
45.450 |
41.230 |
|
|
|
|
|
|
TOTAL |
60.162 |
62.483 |
52.800 |
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|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
19.245 |
18.705 |
18.275 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(c) Deferred
tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
12.439 |
11.760 |
5.826 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
31.684 |
30.465 |
24.101 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.003 |
0.003 |
0.003 |
|
(b) Inventories |
2.444 |
2.025 |
2.578 |
|
(c) Trade receivables |
15.308 |
21.996 |
17.997 |
|
(d) Cash and cash equivalents |
5.663 |
4.447 |
6.019 |
|
(e) Short-term loans and advances |
2.868 |
0.354 |
0.243 |
|
(f) Other current assets |
2.192 |
3.193 |
1.859 |
|
Total Current Assets |
28.478 |
32.018 |
28.699 |
|
|
|
|
|
|
TOTAL |
60.162 |
62.483 |
52.800 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
|
TURNOVER |
83.678 |
91.124 |
76.247 |
|
|
|
|
|
|
|
|
TOTAL EXPENSES |
76.994 |
85.594 |
73.842 |
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
6.684 |
5.530 |
4.731 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1.282 |
1.388 |
1.426 |
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
5.402 |
4.142 |
3.305 |
|
|
|
|
|
|
|
Less |
TAX |
1.695 |
1.329 |
1.015 |
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
3.707 |
2.813 |
2.290 |
|
|
|
|
|
|
|
|
DEFFERED TAX
LIABILITY |
0.179 |
0.192 |
NA |
|
Particulars |
|
|
31.03.2014 |
|
|
|
|
|
|
Sales Turnover (Approximately) |
|
|
60.000 |
|
|
|
|
|
Expected Sales (2014-2015): Rs.100.000 Millions
The above information has been parted by Mr. S. Dakshinamoorthy
ssss
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.98
|
6.63
|
6.82
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.36
|
0.37
|
0.39
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.76
|
0.64
|
0.60
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.79
|
0.70
|
0.77
|
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
0.869 |
0.869 |
0.869 |
|
Reserves & Surplus |
7.553 |
10.375 |
14.094 |
|
Net worth |
8.422 |
11.244 |
14.963 |
|
|
|
|
|
|
long-term borrowings |
2.946 |
5.597 |
8.997 |
|
Short term borrowings |
2.124 |
1.543 |
2.332 |
|
Total borrowings |
5.070 |
7.140 |
11.329 |
|
Debt/Equity ratio |
0.602 |
0.635 |
0.757 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Total Income |
76.247 |
91.124 |
83.678 |
|
|
|
19.512 |
(8.171) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Total Income |
76.247 |
91.124 |
83.678 |
|
Profit |
2.290 |
2.813 |
3.707 |
|
|
3.00% |
3.09% |
4.43% |
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 |
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 |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
No |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
NOTE
The registered office of the company has been shifted from 3954/3769, Bhadrappa Industrial Estate, Kamakshi Palya II Stage, Saneguruvanahalli, Bangalore – 560 079, Karnataka to the present address w.e.f. 10.01.2008.
UNSECURED LOAN
|
Particulars |
AS
ON 31.03.2013 (RS.
IN MILLIONS) |
AS
ON 31.03.2012 (RS.
IN MILLIONS) |
|
Term Loans from Other Parties |
0.000 |
1.500 |
|
Loans and advanced from Directors |
2.500 |
2.500 |
|
|
|
|
|
Total |
2.500 |
4.000 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification
|
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10223820 |
18/03/2013 * |
9,061,000.00 |
Canara Bank |
RAJAJI NAGAR Branch, No.628/629, III BLOCK, Ram Mandir Road,
Rajajinagar, BANGALORE, Karnataka - 56 |
B73225054 |
FIXED ASSETS:
v Plant and Machinery
v Furniture and Fixtures
v Motor Vehicle
v Motor Car
v Scooter
v Electrical Installation
v Office Equipments
v Land
v Crane Accessories
v
Building
v
EPA BX
v
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.62.39 |
|
|
1 |
Rs.94.17 |
|
Euro |
1 |
Rs.73.61 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
ANK |
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 |
5 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--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 |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--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.