MIRA INFORM REPORT

 

 

Report No. :

303737

Report Date :

19.01.2015

 

IDENTIFICATION DETAILS

 

Name :

WATERWAYS SHIPYARD PRIVATE LIMITED

 

 

Registered Office :

Shop No S 4, Ground Floor, Dempo Odyssey Co-Operative Housing Society, Non-Mon, Vasco Da Gama, Goa- 403802

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014 (Provisional)

 

 

Date of Incorporation :

28.08.1982

 

 

Com. Reg. No.:

24-000497

 

 

Capital Investment / Paid-up Capital :

Rs. 7.960 Millions

 

 

CIN No.:

[Company Identification No.]

U35113GA1982PTC000497

 

 

IEC No.:

1703001451

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AAACW4758J

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Subject is engaged into several activities such as ship building, ship repairs, ship management and maritime consultancy

 

 

No. of Employees :

29 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (29)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

Slow

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having moderate track.

 

Management has failed to file latest financials of FY14with the statutory authorities, where as Mr. Nilesh K, Finance head provided provisional financial statement for FY14.

 

Moreover, in align with our procedures, we have considered the audited statements of FY13 which show that the company has reported a loss from its operations.

 

However, trade relations seem to be fair. Business is active. Payment terms are reported as slow.

 

In view of modest scale of its operations, the company can be considered for modest business dealings with great caution.

 

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

CRISIL SME

Rating

SE1C

Rating Explanation

Low Financial strength and highest performance capability.

Date

February 2013

 

 

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. Nilesh

Designation :

Finance head

Contact No.:

91-832-2512708

Date :

16.01.2015

 

 

LOCATIONS

 

Registered Office :

Shop No S 4, Ground Floor, Dempo Odyssey Co-Operative Housing Society, Non-Mon, Vasco Da Gama, Goa- 403802, India

Tel. No.:

91-832-2501485

Fax No.:

91-832-2501485/250812

E-Mail :

waterways@sancharnet.in 

Website :

http://www.waterwaysgoa.com

 

 

Yard :

Tomsodo, Near Chicalim Post Office, Chicalim, Goa-403711, India

Tel. No.:

91-832-2541448

 

 

Branch :

Ship Building, Bale Kudru, Post Hungarcutta, Udupi District,Karnataka-5726218,India

Tel. No.:

91-820-2584959/2584597

 

 

DIRECTORS

 

As on 31.03.2014

 

Name :

Captain. Hitesh Kumar Trehon

Designation :

Managing director

Address :

G-20, Ranghavi Estate Bogmalo Road, Dabolin – 403801, South Goa, Goa, India

Date of Birth/Age :

28.03.1945

Date of Appointment :

28.08.1982

DIN No.:

00063899

 

 

Name :

Mrs. Ritu Terhon

Designation :

Director

Address :

G-20, Ranghavi Estate Bogmalo Road, Dabolin – 403801, South Goa, Goa, India

Date of Birth/Age :

11.09.1950

Date of Appointment :

28.08.1982

DIN No.:

00063925

 

 

KEY EXECUTIVES

 

Name :

Mr. Nilesh Akhadkar

Designation :

Finance head

 

 

Name :

Mr. Vittaldas Pai

Designation :

Manager Accounts

Address :

Udupi, Karnataka,India

 

 

Name :

Mr. P. Korgaonkar

Designation :

Accounts Assistant

 

 

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 26.09.2013

 

Names of Shareholders

No. of Shares

Percentage

Hitesh Trehon

79148

99.43

Ritu Terhon

452

0.57

Total

79600

100.00

 

 

Equity Share Break up (Percentage of Total Equity)

 

Category

Percentage

Directors or relatives of Directors

100.00

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Subject is engaged into several activities such as ship building, ship repairs, ship management and maritime consultancy

 

 

Products :

Not Available

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Available

 

 

Imports :

Not Available

 

 

Terms :

 

Selling :

Cash, Credit and L/C

 

 

Purchasing :

Cash, Credit and L/C

 

 

GENERAL INFORMATION

 

Suppliers :

 

Reference :

S.K. Steel

Name of the Person :

Mr. Sanjay Gupta

Contact No.:

91-9821160572

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

Customers :

Others

Reference :

Sadhu Shipping Limited

Name of the Person :

Mr. Chaudary (Manager Technical)

Contact No.:

91-9833210592

Since How Long Known :

More than 10 Years

Experience :

Product Quality

Delivery Behaviour

Overall

Excellent

Excellent

Excellent

Maximum Limit Dealt :

Not Divulged

Remark :

They gave us positive response about subject company. They are satisfied with their product quality and delivery.

 

 

No. of Employees :

29 (Approximately)

 

 

Bankers :

 

Banker Name :

Bank of India

Branch Address :

Swatantra Path, Goa, India

Facilities :

Not Divulged

Person Name :

Not Divulged

Contact No.:

Not Divulged

Report :

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Credit Limit – 78.500 millions

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

Banker Name :

Indian Overseas Bank

Branch Address :

Vasco Da Gama Branch, Vasco Da Gama - 403802, Goa, India

Facilities :

Not Divulged

Person Name :

Not Divulged

Contact No.:

Not Divulged

Report :

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

Facilities :

(Rs. In Millions)

SECURED LOAN

As on

31.03.2014

As on

31.03.2013

Long Term Borrowing

 

 

IDBI Bank Term Loan (A/C No.752967220000001 HUGURCUTTA YARD )

9.774

11.342

IDBI Bank Term Loan (CC Conv A/c No.: 7529672100000019)

9.787

11.833

IDBI Term Loan (Devolved Con A/C No.: 7529672100000019)

6.484

7.739

Bank of India Term Loan (A/C No.: 100065410000006)

58.914

71.160

Kotak Mahindra Bank

(Secured by first mortgage on crane TRS

0.000

0.079

Tata Capital Limited

(Secured by Hypothecation of Audit Car)

0.000

0.480

Canara bank loan Account No. 0630773004563

7.083

7.749

Canara bank loan Account No. 0630773004571

(Secured by Hypothecation of Barge Sarika)

6.834

6.063

Canara Bank (FITL A/C No.: 0630747000002)

(Secured by Hypothecation of Barge Sarika)

0.237

0.215

Tata Motors Finance Limited

(Secured by Hypothecation of LPT 1109)

0.707

0.722

 

 

 

Short Term Borrowing

 

 

IDBI (Cash credit A/C No.94)

(first charge on Barge Anuja, Flat at Mumbai and Flat at Apana Bazar Vasco)

12.928

12.653

Advance from related Parties

26.349

6.060

Total

139.097

136.095

 

Auditors :

 

Name :

K.P. Angle and Companys

Chartered Accountant

Address :

SO-8, Sapana Chambers, 2nd Floor, Ascanio Costa Road, Margao- 403601, Goa, India

Tel. No.:

91-832-2736348

Mobile No.:

91-9822122825

PAN No.:

AFNPK6315E

 

 

Memberships :      

Not Available

 

 

Collaborators :

Not Available

 

 

Subsidiaries :
  • Pramaan Shipping Private Limited

CIN No.:U35111GA2004PTC003565

  • Royal Cruises and Allied Shipping Private Limited

CIN No.:U35121GA1996PTC002238

 

 

CAPITAL STRUCTURE

 

As on 26.09.2013

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

85000

Equity Shares

Rs.100/- each

Rs.8.500 millions

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

79600

Equity Shares

Rs.100/- each

Rs.7.960 millions

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2014

(Provisional)

31.03.2013

31.03.2012

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

7.960

7.960

7.960

(b) Reserves & Surplus

53.413

87.775

120.357

(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)

61.373

95.735

128.317

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

103.560

122.473

163.449

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long term liabilities

43.471

210.424

18.261

(d) long-term provisions

0.000

0.000

0.000

Total Non-current Liabilities (3)

147.031

332.897

181.710

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

39.277

18.712

36.135

(b) Trade payables

77.709

18.584

120.678

(c) Other current liabilities

201.436

58.745

281.379

(d) Short-term provisions

23.217

30.672

28.266

Total Current Liabilities (4)

341.639

126.713

466.458

 

 

 

 

TOTAL

550.043

555.345

776.485

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

262.933

291.680

381.937

(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

0.083

0.083

0.583

(c) Deferred tax assets (net)

29.691

26.991

14.813

(d)  Long-term Loan and Advances

1.662

3.065

1.124

(e) Other Non-current assets

30.884

43.422

24.351

Total Non-Current Assets

325.253

365.241

422.808

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.500

0.500

0.500

(b) Inventories

187.729

166.013

305.674

(c) Trade receivables

7.256

1.056

5.180

(d) Cash and cash equivalents

4.673

9.484

7.631

(e) Short-term loans and advances

14.256

4.322

21.870

(f) Other current assets

10.376

8.729

12.822

Total Current Assets

224.790

190.104

353.677

 

 

 

 

TOTAL

550.043

555.345

776.485

 

 

PROFIT & LOSS ACCOUNT

 

 

 

PARTICULARS

31.03.2014

(Provisional)

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

Income

29.881

256.844

571.884

 

 

Other Operating Revenue

9.844

6.429

2.612

 

 

Other Income

13.362

7.458

12.997

 

 

TOTAL                                     (A)

53.087

270.731

587.493

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Change in work Progress

(21.987)

126.445

(12.160)

 

 

Consumption of Materials

7.267

74.417

353.275

 

 

Job Work expenses

1.761

8.188

64.709

 

 

Employees benefits expense

6.249

8.175

10.772

 

 

Other expenses

45.175

29.463

68.964

 

 

TOTAL                                     (B)

38.465

246.688

485.560

 

 

 

 

 

Less

PROFIT /LOSS BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)     (C)

14.622

24.043

101.933

 

 

 

 

 

Less

FINANCIAL EXPENSES                                    (D)

9.600

14.820

25.475

 

 

 

 

 

 

PROFIT  /LOSS BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                               (E)

5.022

9.223

76.458

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

42.082

51.578

55.143

 

 

 

 

 

 

PROFIT /LOSS BEFORE TAX (E-F)                               (G)

(37.060)

(42.355)

21.315

 

 

 

 

 

Less

TAX                                                                  (H)

(2.699)

(9.773)

8.400

 

 

 

 

 

 

PROFIT /LOSS AFTER TAX (G-H)                     (I)

(34.361)

(32.582)

12.915

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD  (K)

86.927

119.509

106.594

 

 

 

 

 

 

Balance Carried to the B/S (J+K+L-M)

52.566

86.927

119.509

 

 

 

 

 

 

Earnings Per Share (Rs.)

(431.68)

(409.33)

162.25

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

(Provisional)

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

(114.99)

(12.69)

2.26

 

 

 

 

 

Operating Profit Margin

(PBDIT/Sales)

(%)

48.93

9.36

17.82

 

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

(7.12)

(8.02)

2.80

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

(0.60)

(0.44)

0.17

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

2.33

1.47

1.56

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

0.66

1.50

0.76

 

 

 

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

7.960

7.960

7.960

Reserves & Surplus

120.357

87.775

53.413

Net worth

128.317

95.735

61.373

 

 

 

 

long-term borrowings

163.449

122.473

103.560

Short term borrowings

36.135

18.712

39.277

Total borrowings

199.584

141.185

142.837

Debt/Equity ratio

1.555

1.475

2.327

 

 

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

571.884

256.844

29.881

 

 

(55.088)

(88.366)

 

 

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

571.884

256.844

29.881

Profit

12.915

(32.582)

(34.361)

 

2.26%

(12.69%)

(114.99%)

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

CURRENT MATURITIES OF LONG TERM DEBT 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

Yes

17]

Major suppliers

Yes

18]

Major customers

Yes

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

Yes

 

TRADE REFERENCES

 

Name :

S. K. Steels

Address :

Kapadia Chambers, Floor, Broach Street Carnac Bander Mumbai, Maharashtra, India

Contact Person :

Mr. Sanjay Gupta

Contact No.:

91-9821160572

 

 

Name :

Divya Electricals 

Address :

172, Ranghavi Estate Alto Dabolim Bogmalo Beach Road Goa-403801, India

Contact Person :

Mr. Ranjit Bhupal

Contact No.:

91-9158092824

 

 

UNSECURED LOAN

(Rs. In Millions)

Particular

As on

31.03.2014

As on

31.03.2013

Long Term Borrowing

 

 

Security Deposit

 

 

Delta Corporation Limited

(Security Deposit For Charter Hire of Luxury Cruiser)

0.000

5.000

Prime Electronics

(Security Deposit For Prime Harmony Shop)

0.090

0.090

Praseetha AS/Sea  Pride

(Security Deposit Suryamukhi)

3.500

0.000

C S India Steel Private Limited

(Security Deposit for yard )

0.150

0.000

Total

3.740

5.090

 

 

INDEX OF CHARGES

 

S.No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10413263

08/02/2013

88,400,000.00

IDBI BANK

SWATANTRA PATH, VASCO DA GAMA, Goa - 403802, INDIA

B71283808

2

10383663

07/09/2013 *

13,065,000.00

INDIAN OVERSEAS BANK

VASCO BRANCH, PEREIRA CHAMBERS, PE JOSE VAZ ROAD, 
, VASCO DA GAMA, Goa - 403802, INDIA

B85892081

3

10380859

31/08/2012

1,750,000.00

BANK OF INDIA

SWATANTRA PATH,, COLACO BLDG.,, VASCO DA GAMA, Goa - 403802, INDIA

B59808394

4

10291144

29/08/2011 *

17,100,000.00

CANARA BANK

TOWN BRANCH, UDUPI, Karnataka - 576101, INDIA

B21191275

5

10246430

05/10/2010

325,600,000.00

IDBI BANK LIMITED

SWATANTRA PATH, VASCO DA GAMA, Goa - 403802, INDIA

A97416440

6

10244921

29/09/2010

78,500,000.00

BANK OF INDIA

VASCO BRANCH, VASCO DA GAMA, Goa - 403802, INDIA

A96598248

7

10152359

08/12/2009 *

9,200,000.00

IDBI BANK

SWATANTRA PATH, VASCO DA GAMA, Goa - 403802, INDIA

A75673475

8

10102155

17/03/2008

35,000,000.00

IDBI BANK

SWATANTRA PATH, VASCO DA GAMA, Goa - 403802, INDIA

A36535789

9

10040853

04/06/2007 *

99,931,129.00

BANK OF INDIA

VASCO DA GAMA BRANCH, SWATANTRA PATH, VASCO DA GA 
MA, Goa - 403802, INDIA

A16039505

10

90076418

15/06/2007 *

3,000,000.00

IDBI BANK

DIPAK MAHAL, F.L. GOMES ROAD, VASCO DA GAMA, Goa 
- 403802, INDIA

A17678400

 

* Date of charge modification

 

FIXED ASSETS

  • Building
  • Plant and Machinery
  • Vehicles
  • Computers
  • Furniture and Fixture
  • Office Equipment

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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.61.89

UK Pound

1

Rs.93.92

Euro

1

Rs.72.00

 

 

INFORMATION DETAILS

 

Information Gathered by :

PRT

 

 

Analysis Done by :

SUB

 

 

Report Prepared by :

JYTK

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

4

PAID-UP CAPITAL

1~10

3

OPERATING SCALE

1~10

3

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

4

--PROFITABILIRY

1~10

3

--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

 

29

 

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

 

--

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.