MIRA INFORM REPORT
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Report No. : |
305168 |
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Report Date : |
28.01.2015 |
IDENTIFICATION DETAILS
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Name : |
BANCO ALUMINIUM LIMITED |
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Formerly Known
As : |
IDEAL SWITCHGEAR ACCESSORIES LIMITED |
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Registered
Office : |
Bil, Near Bhalili Railway Station, Padra Road, Vadodara – 391410,
Gujarat |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
19.12.1967 |
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Com. Reg. No.: |
04-001483 |
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Capital
Investment / Paid-up Capital : |
Rs.79.019 Millions |
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CIN No.: [Company Identification
No.] |
U27310GJ1967PLC001483 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACB8629B |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
The company is engaged in manufacturing of Aluminium Extruded Products. |
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No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (54) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 1326000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established company having fine track. The rating reflects company’s healthy operational risk profile marked
by adequate liquidity position and sound profitability margins of the
company. Trade relations are reported as fair. Business is active. Payment
terms are reported to regular and as per commitment. The company can be considered good for normal 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.
ECGC Country Risk Classification List – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
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Rating Agency Name |
CARE |
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Rating |
Long term bank facilities (Fund-Based) = A- |
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Rating Explanation |
Adequate degree of safety and low credit risk. |
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Date |
27.08.2014 |
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Rating Agency Name |
CARE |
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Rating |
Short term bank facilities = A1 |
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Rating Explanation |
Very strong degree of safety and carry lowest credit risk. |
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Date |
27.08.2014 |
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
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Registered Office / Factory : |
Bil, Near Bhalili Railway Station, Padra Road, Vadodara – 391410, Gujarat, India |
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Tel. No.: |
91-265-2680220 / 2680221 / 2680222 / 2680223 |
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Fax No.: |
91-265-2680330 / 2680433 |
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E-Mail : |
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Website : |
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UK Office : |
4 Lamport Drive , Heartlands Business Park , Daventry, Northamptonshire NN11 8YH , United Kingdom |
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E-Mail : |
DIRECTORS
AS ON 31.07.2014
|
Name : |
Samir Kanubhai Patel |
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Designation : |
Whole-time director |
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Address : |
52, Urmi Society, Productivity Road, Vadodara – 390007,
Gujarat, India |
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Date of Birth/Age : |
25.03.1960 |
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Date of Appointment : |
01.09.2012 |
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DIN No.: |
00161448 |
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Other Directorship:
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Name : |
Vimal Kanubhai Patel |
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Designation : |
Director |
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Address : |
60, Alkapuri, Vadodara – 390007, Gujarat, India |
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Date of Birth/Age : |
21.03.1953 |
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Date of Appointment : |
01.11.1995 |
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Date of cessation : |
01.10.2014 |
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DIN No.: |
00161625 |
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Other Directorship:
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Name : |
Mehul Kanubhai Patel |
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Designation : |
Director |
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Address : |
58, Alkapuri, Vadodara – 390007, Gujarat, India |
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Date of Birth/Age : |
21.10.1964 |
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Date of Appointment : |
26.02.2001 |
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DIN No.: |
01772099 |
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Other Directorship:
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Name : |
Vidanuj Navinchandra Patel |
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Designation : |
Director |
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Address : |
5 -Sandalwood Society, Behind Kalpana Society, Race Course Circle,
Vadodara – 390007, Gujarat, India |
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Date of Birth/Age : |
10.08.1964 |
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Date of Appointment : |
28.09.2012 |
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DIN No.: |
02372003 |
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Other Directorship:
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KEY EXECUTIVES
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Name : |
Phadke Manisha Rameshbhai |
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Designation : |
Secretary |
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Address : |
18, Patel Park No.2, Opposite Thekarnath Mahadev, Ajabdi Mills Road, Vadodara – 390006, Gujarat, India |
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Date of Birth/Age : |
03.07.1984 |
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Date of Appointment : |
03.05.2012 |
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PAN No.: |
AXHPP9603L |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.07.2014
SHAREHOLDERS DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
AS ON 31.07.2014
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
2.51 |
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Bodies corporate |
7.84 |
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Directors or relatives of Directors |
89.65 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
The company is engaged in manufacturing of Aluminium
Extruded Products. |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS : NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
Not Divulged |
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Customers : |
Not Divulged |
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No. of Employees : |
Information declined by the management. |
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Bankers : |
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Facilities : |
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Banking
Relations : |
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Auditors : |
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Name : |
K. C. Mehta and Company Chartered Accountants |
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Address : |
2nd Floor, Meghdhanush, Race Course, Vadodara, Gujarat, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AABFK1558J |
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Memberships : |
-- |
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Collaborators : |
-- |
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Company under
common control / Associate : |
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Partnership firm under
common control / Enterprises which are owned, or have significant influence
of or are partners with key management personnel and their relatives ; |
Gasket and Radiator Distributor |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 80.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
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|
7,901,940 |
Equity Shares |
Rs.10/- each |
Rs.79.019 Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
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|
|
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I.
EQUITY AND LIABILITIES |
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|
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(1)Shareholders' Funds |
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(a) Share Capital |
79.019 |
79.019 |
79.019 |
|
(b) Reserves & Surplus |
384.895 |
311.951 |
256.601 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
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(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
463.914 |
390.970 |
335.620 |
|
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(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
8.500 |
5.980 |
14.100 |
|
(b) Deferred tax liabilities
(Net) |
14.220 |
10.802 |
9.126 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
4.774 |
4.815 |
3.945 |
|
Total
Non-current Liabilities (3) |
27.494 |
21.597 |
27.171 |
|
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
98.872 |
121.245 |
84.455 |
|
(b) Trade payables |
94.325 |
116.347 |
95.596 |
|
(c) Other current liabilities |
48.680 |
51.060 |
46.181 |
|
(d) Short-term provisions |
15.702 |
21.747 |
9.937 |
|
Total
Current Liabilities (4) |
257.579 |
310.399 |
236.169 |
|
|
|
|
|
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TOTAL |
748.987 |
722.966 |
598.960 |
|
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|
|
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II.
ASSETS |
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|
|
|
(1) Non-current assets |
|
|
|
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(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
270.740 |
223.283 |
165.271 |
|
(ii) Intangible Assets |
0.833 |
0.567 |
0.634 |
|
(iii) Capital work-in-progress |
0.000 |
37.222 |
27.876 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.351 |
0.351 |
0.351 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.993 |
2.292 |
14.572 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
272.917 |
263.715 |
208.704 |
|
|
|
|
|
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(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
173.109 |
149.544 |
122.126 |
|
(c) Trade receivables |
275.801 |
262.282 |
235.031 |
|
(d) Cash and cash equivalents |
9.201 |
22.899 |
15.504 |
|
(e) Short-term loans and
advances |
17.615 |
24.130 |
17.595 |
|
(f) Other current assets |
0.344 |
0.396 |
0.000 |
|
Total
Current Assets |
476.070 |
459.251 |
390.256 |
|
|
|
|
|
|
TOTAL |
748.987 |
722.966 |
598.960 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
1953.430 |
1639.118 |
1539.520 |
|
|
Other Income |
7.698 |
5.662 |
15.036 |
|
|
TOTAL (A) |
1961.128 |
1644.780 |
1554.556 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
1524.692 |
1286.326 |
1178.962 |
|
|
Purchases of
Stock-in-Trade |
0.000 |
0.000 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(6.729) |
(16.157) |
19.864 |
|
|
Employees benefits
expense |
67.801 |
54.957 |
39.166 |
|
|
Other expenses |
187.614 |
165.387 |
148.170 |
|
|
TOTAL (B) |
1773.378 |
1490.513 |
1386.162 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION (C) |
187.750 |
154.267 |
168.394 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
15.789 |
14.738 |
15.983 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX,
DEPRECIATION AND AMORTISATION (C-D) (E) |
171.961 |
139.529 |
152.411 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
36.011 |
30.298 |
25.217 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX (E-F) (G) |
135.950 |
109.231 |
127.194 |
|
|
|
|
|
|
|
Less |
TAX (H) |
48.970 |
35.214 |
41.421 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
(G-H) (I) |
86.980 |
74.017 |
85.773 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
233.817 |
187.289 |
121.200 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General
Reserve |
5.000 |
9.000 |
10.500 |
|
|
Dividend |
11.853 |
15.803 |
7.902 |
|
|
Tax on Dividend |
2.014 |
2.686 |
1.282 |
|
|
Total |
18.867 |
27.489 |
19.684 |
|
|
|
|
|
|
|
|
BALANCE CARRIED TO THE
B/S |
301.930 |
233.817 |
187.289 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
89.345 |
60.507 |
110.394 |
|
|
TOTAL EARNINGS |
89.345 |
60.507 |
110.394 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
3.883 |
175.775 |
59.773 |
|
|
Components and Stores
parts |
1.848 |
3.312 |
3.641 |
|
|
Capital Goods |
11.286 |
16.059 |
1.647 |
|
|
TOTAL IMPORTS |
17.017 |
195.146 |
65.061 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
11.01 |
9.37 |
10.85 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
4.45 |
4.52 |
5.57 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
9.61 |
9.41 |
10.94 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
18.16 |
15.94 |
22.29 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.29 |
0.28 |
0.38 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.23 |
0.33 |
0.29 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.85 |
1.48 |
1.65 |
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 |
79.019 |
79.019 |
79.019 |
|
Reserves & Surplus |
256.601 |
311.951 |
384.895 |
|
Net worth |
335.620 |
390.970 |
463.914 |
|
|
|
|
|
|
long-term borrowings |
14.100 |
5.980 |
8.500 |
|
Short term borrowings |
84.455 |
121.245 |
98.872 |
|
Total borrowings |
98.555 |
127.225 |
107.372 |
|
Debt/Equity ratio |
0.294 |
0.325 |
0.231 |
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 |
1539.520 |
1639.118 |
1953.430 |
|
|
|
6.469 |
19.176 |
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 |
1539.520 |
1639.118 |
1953.430 |
|
Profit |
85.773 |
74.017 |
86.980 |
|
|
5.57% |
4.52% |
4.45% |
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 |
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
Long-term
Borrowings |
|
|
|
Deposits from others |
8.500 |
5.980 |
|
Short-term
borrowings |
|
|
|
Deposits from others |
28.040 |
21.540 |
|
|
|
|
|
Total |
36.540 |
27.520 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10540167 |
11/12/2014 |
50,000,000.00 |
THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMI |
OLD PADRA ROAD, RACE COURSE CIRCLE, VADODARA, GUJ |
C38970158 |
|
2 |
10540165 |
11/12/2014 |
100,000,000.00 |
THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMI |
OLD PADRA ROAD, RACE COURSE CIRCLE, VADODARA, GUJ |
C38969879 |
|
3 |
10486390 |
10/03/2014 |
50,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W |
C01000975 |
|
4 |
80026532 |
05/07/2013 * |
241,200,000.00 |
STATE BANK OF INDIA |
MID CORPORATE GROUP INDUSTRIAL FINANCE BRANCH, MA |
B79494720 |
* Date of charge modification
OPERATIONS
During the year, the turnover of the Company was Rs. 1961.128 Millions against Rs. 1644.780 Millions in the previous year, Profit before Tax of Rs. 135.950 Millions against Rs. 109.231 Millions in the previous year and Profit after tax of Rs. 86.980 Millions against Rs. 74.017 Millions in the previous year.
FIXED ASSETS
- Land
- Buildings
- Factory building
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Computer software
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.61.46 |
|
|
1 |
Rs.92.77 |
|
Euro |
1 |
Rs.69.03 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
54 |
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.