MIRA INFORM REPORT
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Report No. : |
305308 |
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Report Date : |
30.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
SIPRA ENGINEERS PRIVATE LIMITED |
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Registered
Office : |
93 A, Mittal Tower, Nariman Point, Mumbai - 400021, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
01.08.1978 |
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Com. Reg. No.: |
11-020543 |
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Capital
Investment / Paid-up Capital : |
Rs. 25.628 Millions |
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CIN No.: [Company Identification
No.] |
U28920MH1978PTC020543 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS35316B MUMS16378F MUMS17615D NSKS04375A |
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PAN No.: [Permanent Account No.] |
AAACS5748N |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The company is engaged in the business of manufacturing aluminium alloy high pressure diecastings used mainly in automobile industry. |
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No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1627000 |
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Status : |
Satisfactory |
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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 satisfactory track. General financial position of the company is sound. Trade relations are reported as fair. Business is active. Payment
terms are reported to be usually correct. The company can be considered normal 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 |
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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
|
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.
LOCATIONS
|
Registered Office / Corporate Office : |
93 A, Mittal Tower, Nariman Point, Mumbai - 400021, Maharashtra |
|
Tel. No.: |
91-22-22834520 / 22824421 / 22831501 / 25820252 |
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Fax No.: |
91-22-22885043 / 25820490 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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|
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Factory 1 : |
34/C, MIDC, Satpur, Nashik - 422007, Maharashtra, India |
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Tel. No.: |
91-253-6610666 / 6602935 |
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Fax No.: |
91-253-6610659 |
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E-Mail : |
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VCC Unit : |
E/62, MIDC, Satrpur, Nasik-422007, Maharashtra, India |
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Tel. No.: |
91-253-6603357 |
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Fax No.: |
91-253-6603359 |
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Factory 2 : |
A53, MIDC, Malegaon,, Nashik - 422007, Maharashtra, India |
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Tel. No.: |
91-253-6610666 / 6602935 |
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Fax No.: |
91-253-6610659 |
DIRECTORS
AS ON 29.09.2014
|
Name : |
Ms. Vandan Sitaram Shah |
|
Designation : |
Managing Director |
|
Address : |
2 Prabhat, 28 B Road, Churchgate, Mumbai-400020, Maharashtra, India |
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Date of Birth/Age : |
23.06.1962 |
|
Date of Appointment : |
25.02.1981 |
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DIN No.: |
00759570 |
|
Name : |
Ms. Veena Sitaram Shah |
|
Designation : |
Director |
|
Address : |
2 Prabhat, 28 B Road, Churchgate, Mumbai-400020, Maharashtra, India |
|
Date of Birth/Age : |
12.04.1938 |
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Date of Appointment : |
22.03.1980 |
|
DIN No.: |
00860538 |
|
Name : |
Mr. Sitaram Baldeodas Shah |
|
Designation : |
Director |
|
Address : |
2 Prabhat, 28 B Road, Churchgate, Mumbai-400020, Maharashtra, India |
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Date of Birth/Age : |
07.05.1937 |
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Date of Appointment : |
25.02.2008 |
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DIN No.: |
00860423 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2014
|
Names of Shareholders |
No. of Shares |
|
Sitaram B Shah |
174200 |
|
Veena Shah |
335120 |
|
Sitaram B Shah (HUF) |
380040 |
|
Vandan S Shah |
378000 |
|
Sipra Services and Investments Private Limited, India |
675000 |
|
Vandan S Shah |
130360 |
|
Sitaram B Shah |
80 |
|
Veena S Shah |
190000 |
|
Sitaram B Shah |
95000 |
|
Sitaram B Shah |
105000 |
|
Vandan S Shah |
100000 |
|
Ekta Vandan Shah |
4464 |
|
Total |
2567264 |
AS ON 29.09.2014
|
Equity Shares
Break Up |
Percentage |
|
Bodies corporate |
27.38 |
|
Directors or relatives of Directors |
72.62 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is engaged in the business of manufacturing aluminium alloy high pressure diecastings used mainly in automobile industry. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
Not Available |
PRODUCTION STATUS : NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
Not Available |
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Customers : |
Not Available |
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No. of Employees : |
Information declined by the management. |
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Bankers : |
Citi Bank, N. A. Trent House, 2nd Floor, G Block, Plot No.C60, Bandra Kurla Complex, Bandra (E), Mumbai - 400051, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
CNK and Associates LLP Chartered Accountant |
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Address : |
3rd Floor, Jah Chambers, 7A, Sir P M Road, Fort, Mumbai – 400001, Maharashtra, India |
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Pan No.: |
AACFC8587E |
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Holding Company : |
Sipra Services and Investments Private Limited |
CAPITAL STRUCTURE
AS ON 29.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 80.000 Millions |
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|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,617,648 |
Equity Shares |
Rs.10/- each |
Rs. 26.176
Millions |
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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 |
|
|
|
|
|
|
2,562,800 |
Equity Shares |
Rs.10/- each |
Rs. 25.628
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 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
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|
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|
(1)Shareholders' Funds |
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|
|
|
(a) Share Capital |
25.628 |
25.628 |
25.628 |
|
(b) Reserves &
Surplus |
543.818 |
436.935 |
361.303 |
|
(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) |
569.446 |
462.563 |
386.931 |
|
|
|
|
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(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
6.279 |
7.866 |
10.044 |
|
(b) Deferred tax
liabilities (Net) |
21.982 |
17.944 |
16.184 |
|
(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) |
28.261 |
25.810 |
26.228 |
|
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|
|
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
2.587 |
3.000 |
0.256 |
|
(b) Trade payables |
66.024 |
84.422 |
31.767 |
|
(c) Other current
liabilities |
54.663 |
48.875 |
63.704 |
|
(d) Short-term provisions |
7.476 |
8.034 |
7.631 |
|
Total Current Liabilities
(4) |
130.750 |
144.331 |
103.358 |
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|
|
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TOTAL |
728.457 |
632.704 |
516.517 |
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II.
ASSETS |
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(1) Non-current assets |
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(a) Fixed Assets |
|
|
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|
(i) Tangible assets |
248.430 |
225.121 |
197.451 |
|
(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 |
73.276 |
25.642 |
14.536 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
7.727 |
72.643 |
48.379 |
|
(e) Other Non-current
assets |
0.000 |
1.262 |
1.262 |
|
Total Non-Current Assets |
329.433 |
324.668 |
261.628 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
21.526 |
28.703 |
|
(b) Inventories |
84.824 |
86.513 |
56.222 |
|
(c) Trade receivables |
211.346 |
161.054 |
122.045 |
|
(d) Cash and cash
equivalents |
54.552 |
16.064 |
28.339 |
|
(e) Short-term loans and
advances |
47.000 |
22.421 |
19.401 |
|
(f) Other current assets |
1.302 |
0.458 |
0.179 |
|
Total Current Assets |
399.024 |
308.036 |
254.889 |
|
|
|
|
|
|
TOTAL |
728.457 |
632.704 |
516.517 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
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Income |
|
|
625.666 |
|
|
Other Income |
|
|
|
|
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TOTAL |
1096.900 |
708.995 |
625.666 |
|
|
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|
|
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|
Less |
EXPENSES |
|
|
|
|
|
TOTAL |
938.709 |
591.258 |
513.748 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION (C) |
158.191 |
117.737 |
111.918 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
1.410 |
0.193 |
0.951 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
156.781 |
117.544 |
110.967 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
28.905 |
27.187 |
21.536 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX (E-F) (G) |
127.876 |
90.357 |
89.431 |
|
|
|
|
|
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|
Less |
TAX (H) |
37.738 |
9.184 |
17.503 |
|
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|
PROFIT/ (LOSS) AFTER TAX
(G-H) (I) |
90.138 |
81.173 |
71.928 |
|
|
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|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
32.740 |
6.814 |
47.872 |
|
|
|
|
|
|
|
Add |
Balance in P&L of
erstwhile ENS |
0.000 |
0.000 |
-77.774 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General
Reserve |
90.000 |
50.000 |
30.000 |
|
|
Dividend |
5.760 |
4.485 |
4.485 |
|
|
Tax on Dividend |
0.980 |
0.762 |
0.727 |
|
|
Total |
96.740 |
55.247 |
35.212 |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S |
26.138 |
32.740 |
6.814 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
35.17 |
31.67 |
--- |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin |
(%) |
8.22 |
11.45 |
11.50 |
|
|
|
|
|
|
|
Operating Profit Margin |
(%) |
14.42 |
16.61 |
17.89 |
|
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|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
19.52 |
14.88 |
17.82 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.22 |
0.20 |
0.23 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.02 |
0.02 |
0.03 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.05 |
2.13 |
2.47 |
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 |
25.628 |
25.628 |
25.628 |
|
Reserves & Surplus |
361.303 |
436.935 |
543.818 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
386.931 |
462.563 |
569.446 |
|
|
|
|
|
|
long-term borrowings |
10.044 |
7.866 |
6.279 |
|
Short term borrowings |
0.256 |
3.000 |
2.587 |
|
Total borrowings |
10.300 |
10.866 |
8.866 |
|
Debt/Equity ratio |
0.027 |
0.023 |
0.016 |
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 |
625.666 |
708.995 |
1096.900 |
|
|
|
13.318 |
54.712 |
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 |
625.666 |
708.995 |
1096.900 |
|
Profit |
71.928 |
81.173 |
90.138 |
|
|
11.50% |
11.45% |
8.22% |
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 |
No |
|
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 |
UNSECURED LOAN
|
Particulars |
31.03.2014 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
Long-term
Borrowings |
|
|
|
Deferred payment liabilities |
6.279 |
7.866 |
|
Short-term
borrowings |
|
|
|
Deferred sales tax |
1.587 |
2.178 |
|
Total |
7.866 |
10.044 |
AMALGAMATION
In regard to the Amalgamation of the Manufacturing division of Exemplar Engineering Private Limited with the company having the Manufacturing Unit at A/55, Sinnar Industrial Area, M.I.D.C. Malegaon, Sinnar – 422 113 Dist Nashik, the Order of the High Court of Bombay, duly signed and sealed dated: 26th August 2014 with the appointed date 1st April 2013, duly filed vide E-Form INC 28 with the Registrar of Companies Maharashtra (R.O.C) and the same has become effective immediately. As a result of this Order all the properties, Rights, Powers and all assets, Liabilities, obligations and benefits of whatsoever nature of the Manufacturing division of Exemplar Engineering Private Limited shall without any further Act and deed be and shall be transferred to and vested in the company. With this all formalities relating to the Amalgamation pursuant to the provisions of the Companies Act, 1956 and 2013 has been complied with. And the accounts for the year ended 31.03.2014 includes the effect of Amalgamation.
REVIEW OF OPERATIONS
During the year the turnover of the Company is Rs. 1096.900 as against Rs.708.995 Millions in the previous year. The operations resulted in Gross profit (before interest, depreciation and tax) of Rs.158.191 as against Rs.117.737 Millions in the previous year and Net profit of Rs.90.138 Millions as against Net profit of Rs.81.173 Millions in the previous year. The turnover of the company has increased by approx 64%, however the gross profit increased marginally during the year due to increased cost of operation.
Barring unforeseen circumstances the Company is expected to do better during the current financial year. In terms of industrial Relations, the Company continued to enjoy industrial harmony in its business operations in all locations.
MANAGEMENT DISCUSSION
AND ANALYSIS:
Over the years SIPRA ENGINEERS PVT LTD has placed a continuous emphasis on improving processes, with a view to consistently increasing efficiencies, enhancing quality and thereby achieving better performance benchmarks in all areas. The ability to see future prospects and turn them into profitable ventures. That’s something that sets us apart. They have always anticipated their customers’ needs. The opening up and expansion of the economy, rising income levels and changing consumer beliefs and behaviours have led to an increase in consumption. This represents a tremendous opportunity for the company.
Today we have achieved a satisfactory progress in production and quality of various Diecasting products. The key objective of their company is to develop a competitive edge based on reliable delivery service and thereby create value for customers. The Chairman further said that, the challenges ahead are consistent growth with the help of new technologies and the best use of captive resources. The Company has been honoured by the following Award.
EEPC Export Award 2012-13
IDENTIFICATION OF
SEGMENT
The Company operates in three Primary Segments i.e. Manufacture of Aluminium Die Castings, for the automobile industry, Manufacture of Spindles, used in the textile industry and Textile Machinery Manufacturing. Primary Segments are identified based on the nature of Products and Services and the different risks and returns associated with each segment representing a strategic business unit that offers products and serves different markets. The analysis of geographical segment is based on the geographical location of the customers and are mainly classifed as Within India and Outside India.
FIXED ASSETS
·
Building
·
Plant and Machinery
·
Motor Vehicles
·
Furniture and Fixtures
·
Office Equipments
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions between
a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.50 |
|
|
1 |
Rs.93.12 |
|
Euro |
1 |
Rs.69.33 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SNT |
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 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
50 |
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.