MIRA
INFORM REPORT
|
Report No. : |
304677 |
|
Report Date : |
29.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
TECHNOFOUR ELECTRONICS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
NDT House 45, |
|
|
|
|
Country : |
|
|
|
|
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Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
02.05.1983 |
|
|
|
|
Com. Reg. No.: |
11-029910 |
|
|
|
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Capital Investment
/ Paid-up Capital : |
Rs.2.900 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U33129MH1983PTC029910 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
PAN No.: [Permanent Account No.] |
Not Available |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
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Line of Business
: |
Manufacturer of Metal Detectors, Check Weighers, Pinhole
Detectors and Combo Check Weighers. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
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|
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Litigation : |
Clear |
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|
Comments : |
Subject is an established company having satisfactory track. Trade relations seem to be fair. Business is active. Payment terms are
reported as 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 : 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 |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
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 DECLINED BY
|
Name : |
Mr. Pandurang |
|
Designation : |
Accounts Assistant |
|
Contact No.: |
91-20-26058060 |
|
Date : |
23.01.2015 |
LOCATIONS
|
Registered Office : |
NDT House 45, Ambedkar Road, Near Sagam Bridge, Pune – 411001,
Maharashtra, India |
|
Tel. No.: |
91-20-26058060/26058063/26058061/26058062 |
|
Fax No.: |
91-20-26058070 |
|
E-Mail : |
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|
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|
Factory: |
Khed Shivapur Saswad Road, Opposite Hotel Yogiraj Resort, Kasurdi,
Pune – 412205, Maharashtra |
|
Tel. No.: |
91-2113-305200/305246 |
|
Fax No.: |
91-2113-305250 |
|
E-Mail : |
DIRECTORS
As on 26.09.2013
|
Name : |
Mr. Pravin Vinayak Dhole |
|
Designation : |
Director |
|
Address : |
Flat No. 4A, Yashoda Apartments, 769/5, Shivajinagar Deccan Gymkhana,
Pune – 411004, Maharashtra, India |
|
Date of Birth/Age : |
25.11.1949 |
|
Date of Appointment : |
02.05.1983 |
|
DIN No.: |
00797583 |
|
|
|
|
Name : |
Mr. Shrikant Krushnarao Kudekar |
|
Designation : |
Director |
|
Address : |
Shubham Appartment, Flat No. 09, Kanchan Gali, Deccan Gymkhana, Pune –
411004, Maharashtra, India |
|
Date of Birth/Age : |
29.12.1949 |
|
Date of Appointment : |
02.05.1983 |
|
DIN No.: |
00784302 |
|
|
|
|
Name : |
Mr. Ramakant Guruprasad Kulkarni |
|
Designation : |
Director |
|
Address : |
Guruprasad Bunglow 61, Ideal Colony, Kothrud, Pune – 411029,
Maharashtra, India |
|
Date of Birth/Age : |
05.05.1949 |
|
Date of Appointment : |
02.05.1983 |
|
DIN No.: |
00784293 |
|
|
|
|
Name : |
Mr. Uday Shridhar Godbole |
|
Designation : |
Director |
|
Address : |
3, Silver Birch 1111 Lakaki Road, Model, Pune - 400106, Maharashtra,
India |
|
Date of Birth/Age : |
08.01.1950 |
|
Date of Appointment : |
02.05.1983 |
|
DIN No.: |
00797651 |
KEY EXECUTIVES
|
Name : |
Mr. Pandurang |
|
Designation : |
Accounts Assistant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 26.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Pravin Vinayak Dhole |
|
3404 |
|
Uday Shridhar Godbole |
|
3204 |
|
Shrikant Krushnarao Kudekar |
|
3204 |
|
Ramakant G Kulkarni |
|
3204 |
|
Maya Ramakant Kulkarni J/W Ramakant G Kulkarni |
|
200 |
|
Sujata Pravin Dhole J/W Pravin V Dhole |
|
200 |
|
Aruna Uday Godbole J/W Uday Shridhar Godbole |
|
200 |
|
Pravin Vinayak Dhole HUF |
|
200 |
|
Shrikant Krishnarao Kudekar HUF |
|
700 |
|
Uday Shridhar Godbole HUF |
|
700 |
|
Ramakant G Kulkarni HUF |
|
200 |
|
Shilpa Shrikant Kudekar J/W Shrikant Krishnarao Kudekar |
|
400 |
|
Shriniwas Shrikant Kudekar J/W Shrikant Krishnarao Kudekar |
|
400 |
|
Dhananjay Pravin Dhole J/W Pravin Vinayak Dhole |
|
800 |
|
Vikram Uday Godbole J/W Shridhar Godbole |
|
800 |
|
Latika Ramakant Kulkarni J/W Ramakant Guruprasad Kulkarni |
|
400 |
|
Geetanjali Ramakant Kulkarni J/W Ramakant Guruprasad Kulkarni |
|
400 |
|
Pravin Dhole J/W Sujata P Dhole |
|
2346 |
|
Shrikant K Kudekar J/W Mrunali S Kudekar |
|
2346 |
|
Ramakant G Kulkarni JW Maya R Kulkarni |
|
2346 |
|
Uday Godbole J/W Aruna Godbole |
|
2346 |
|
Sujata Pravin Dhole |
|
500 |
|
Maya Ramakant Kulkarni |
|
500 |
|
Total |
|
29000 |
Equity Share Break up (Percentage of Total Equity)
As on 26.09.2013
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Metal Detectors, Check Weighers, Pinhole
Detectors and Combo Check Weighers. |
|
|
|
|
Products : |
· Metal Detectors · Check Weighers · Pinhole Detectors ·
Combo Check Weighers |
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|
|
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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
|
Suppliers : |
·
Aakaar Aquarium Private Limited ·
Abhisham Engineering ·
Ace Automation ·
A K Industrial Services ·
Akshay Enterprises ·
Akshar Associates ·
Alsons Corporation ·
Asiad Steel industries ·
Behari Enterprise ·
Carves Enterprise |
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Customers : |
Not Divulged |
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No. of Employees : |
Information declined by the management |
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Bankers : |
· CITI Bank N. A.CITI Business, Citibank Centre, 2nd Floor, Bandra Kurla Complex, Bandra (East), Mumbai - 400051, Maharashtra, India · State Bank of India, Tilak Road Branch, , Pune - 411030, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
B.L.Phatak and Company Chartered Accountants |
|
Address : |
1, Jay Apartments , Sunderrao Rege Marg, 64/3, Erandawna, 14th Lane,
Prabhat Road, Pune – 411004, Maharashtra, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAACT6286G |
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Memberships : |
-- |
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Collaborators : |
-- |
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|
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Associates/Subsidiaries : |
NIL |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
40000 |
Equity Shares |
Rs.100/- each |
Rs. 4.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
29000 |
Equity Shares |
Rs.10/- each |
Rs. 2.900
Millions |
|
|
|
|
|
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 |
2.900 |
2.900 |
2.900 |
|
(b) Reserves & Surplus |
74.070 |
63.511 |
59.147 |
|
(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) |
76.970 |
66.411 |
62.047 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
135.432 |
148.117 |
122.072 |
|
(b) Deferred tax liabilities
(Net) |
0.939 |
0.939 |
0.939 |
|
(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) |
136.371 |
149.056 |
123.011 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
15.609 |
0.113 |
0.192 |
|
(b) Trade payables |
63.195 |
31.730 |
23.937 |
|
(c) Other current liabilities |
18.952 |
25.283 |
16.842 |
|
(d) Short-term provisions |
51.706 |
46.191 |
53.057 |
|
Total
Current Liabilities (4) |
149.462 |
103.317 |
94.028 |
|
|
|
|
|
|
TOTAL |
362.803 |
318.784 |
279.086 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
133.203 |
132.876 |
120.175 |
|
(ii) Intangible Assets |
0.241 |
0.888 |
0.555 |
|
(iii) Capital work-in-progress |
10.116 |
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 |
2.998 |
3.471 |
3.509 |
|
(e) Other Non-current assets |
0.118 |
0.128 |
0.155 |
|
Total
Non-Current Assets |
146.676 |
137.363 |
124.394 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
88.472 |
66.983 |
55.419 |
|
(c) Trade receivables |
65.617 |
57.198 |
51.294 |
|
(d) Cash and cash equivalents |
4.124 |
11.010 |
5.528 |
|
(e) Short-term loans and
advances |
1.373 |
3.419 |
4.218 |
|
(f) Other current assets |
56.541 |
42.811 |
38.233 |
|
Total
Current Assets |
216.127 |
181.421 |
154.692 |
|
|
|
|
|
|
TOTAL |
362.803 |
318.784 |
279.086 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
NA |
NA |
NA |
|
|
Other Income |
NA |
NA |
NA |
|
|
TOTAL
|
NA |
NA |
NA |
|
|
|
|
|
|
|
Less |
EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
Less |
TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
17.300 |
11.105 |
16.797 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
596.55 |
NA |
NA |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.96 |
2.23 |
1.97 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.45 |
1.76 |
1.65 |
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 |
2.900 |
2.900 |
2.900 |
|
Reserves & Surplus |
59.147 |
63.511 |
74.070 |
|
Net
worth |
62.047 |
66.411 |
76.970 |
|
|
|
|
|
|
long-term borrowings |
122.072 |
148.117 |
135.432 |
|
Short term borrowings |
0.192 |
0.113 |
15.609 |
|
Total
borrowings |
122.264 |
148.230 |
151.041 |
|
Debt/Equity
ratio |
1.971 |
2.232 |
1.962 |
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 |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
No |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
17] |
Major suppliers |
Yes |
|
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 |
UNSECURED LOAN
|
PARTICUALRS |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
Long-term
Borrowings |
|
|
|
G R Kulkarni Deposit |
0.812 |
0.732 |
|
L R Kulkarni Deposit |
0.566 |
0.511 |
|
Shilpa S Kudekar Kulkarni Deposit |
0.942 |
0.870 |
|
P V Dhole Deposit |
21.200 |
28.511 |
|
P V Dhole HUF Deposit A/C |
3.900 |
0.000 |
|
R G Kulkarni Deposit |
14.877 |
18.585 |
|
R G Kulkarni HUF Deposit A/C |
0.036 |
0.032 |
|
Aruna U Godbole Deposit A/C |
7.523 |
6.388 |
|
S K Kudekar Deposit |
28.873 |
30.859 |
|
S K Kudekar HUF Deposit A/C |
1.099 |
0.992 |
|
M R Kulkarni Deposit |
3.538 |
3.193 |
|
Pramila V Dhole Deposit |
0.000 |
4.600 |
|
U S Godbole Deposit |
40.254 |
42.325 |
|
U S Godbole HUF Deposit A/ |
4.503 |
3.893 |
|
Shriniwas S Kudekar Deposit |
1.653 |
1.527 |
|
V U Godbole Deposit |
5.656 |
5.099 |
|
Total |
135.432 |
148.117 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10170534 |
31/07/2009 |
40,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
A67693457 |
FIXED ASSETS
·
Land
·
Building
·
Plant and Machinery
·
Office Equipment
·
Office Equipment
·
Furniture and Fixture
·
Computer
·
Motor Car
·
Goodwill
·
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.61.41 |
|
|
1 |
Rs.93.18 |
|
Euro |
1 |
Rs.69.82 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
42 |
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.