MIRA INFORM REPORT
|
Report No. : |
330569 |
|
Report Date : |
04.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
Z V STEELS PRIVATE LIMITED (w.e.f. 28.11.1997) |
|
|
|
|
Formerly Known
As : |
Z V STEEL TRADER PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Gokul GM-4
Mezannine Floor, 80/A Baroda Street, Carnac Bunder, Sant Tukaram Road, Mumbai
– 400 009, Maharashtra |
|
Tel. No.: |
91-22-23424439 |
|
|
|
|
Country : |
India |
|
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
01.08.1997 |
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Com. Reg. No.: |
11-109791 |
|
|
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|
Capital
Investment / Paid-up Capital : |
Rs. 25.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51909MH1997PTC109791 |
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|
|
|
IEC No.: |
Not Available |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMZ00693A |
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|
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PAN No.: [Permanent Account No.] |
AAACZ0915C |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in the business of trading of steel products such
as cold rolled, cold annealed, hot rolled etc. |
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No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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|
Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established private limited company incorporated in
the year 1997, having moderate track. Rating takes into account the significant increase in debt levels of
the company in FY 14, which lead to a leveraged capital structure. However, trade relations are fair. Business is active. Payment terms
are reported to be slow but correct. The company can be considered for business dealings with some
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 |
ICRA |
|
Rating |
Long Term Fund Based Limit – Cash Credit (B+) |
|
Rating Explanation |
Risk prone credit quality and carrier very high credit risk |
|
Date |
July 2014 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short Term Non Fund Based (A4) |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
July 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) DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2013.
INFORMATION DENIED BY
|
Name : |
Mr. Riya Lokhandwala |
|
Designation : |
Director |
|
Contact No.: |
91-9820078069 |
|
Date : |
03.07.2015 |
LOCATIONS
|
Registered Office : |
Gokul GM-4
Mezannine Floor, 80/A Baroda Street, Carnac Bunder, Sant Tukaram Road, Mumbai
– 400 009, Maharashtra, India |
|
Tel. No.: |
91-22-23424439 / 23422778 / 23417486 |
|
Fax No.: |
91-22-23422778 |
|
E-Mail : |
|
|
Area : |
Owned |
|
|
|
|
Head Office : |
Gokul GM-1 Mezannine Floor, 80/A Baroda Street, Carnac Bunder, Sant Tukaram Road, Mumbai – 400 009, Maharashtra, India |
|
|
|
|
Warehouse : |
C/17/1, Mix Taloja, Dist Raigad – 410 208 |
|
Location : |
Owned |
DIRECTORS
As on 30.09.2014
|
Name : |
Mrs. Yasmin Riyaz Lokhandwala |
|
Designation : |
Director |
|
Address : |
2302, Zahra Towers, Dr. E. Moses Road, Worli, Mumbai – 400018, Maharashtra, India |
|
Date of Birth/Age : |
17.09.1960 |
|
DIN : |
00360912 |
|
Date of Appointment : |
28.09.1998 |
|
|
|
|
Name : |
Mr. Karimbhoy Ebrahimji Lokhandwala |
|
Designation : |
Director |
|
Address : |
2302, Zahra Towers, Dr. E. Moses Road, Worli, Mumbai –
400018, Maharashtra, India |
|
Date of Birth/Age : |
12.04.1928 |
|
Date of Appointment : |
01.08.1997 |
|
DIN No. : |
00361071 |
|
|
|
|
Name : |
Mr. Riyaz Karimbhoy Lokhandwala |
|
Designation : |
Director |
|
Address : |
2302, Zahra Towers, Dr. E. Moses Road, Worli, Mumbai –
400018, Maharashtra, India |
|
Date of Birth/Age : |
10.02.1956 |
|
Date of Appointment : |
01.08.1997 |
|
DIN No. : |
00361140 |
|
|
|
|
Name : |
Mr. Zameer Riyaz Lokhandwala |
|
Designation : |
Director |
|
Address : |
2302, Zahra Towers, Dr. E. Moses Road, Worli, Mumbai –
400018, Maharashtra, India |
|
Date of Birth/Age : |
09.12.1987 |
|
Date of Appointment : |
23.11.2006 |
|
DIN No. : |
00964072 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Riyaz Karimbhoy Lokhandwala |
|
1549613 |
|
Yasmin Riyaz Lokhandwala |
|
112500 |
|
Karimbhoy Ebrahimji Lokhandwala |
|
15 |
|
Malika S. Shah |
|
15 |
|
Roohi Riyaz Lokhandwala |
|
437858 |
|
Zameer R. Lokhandwala |
|
400000 |
|
Total |
|
2500001 |
As on 30.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of trading of steel products such
as cold rolled, cold annealed, hot rolled etc. |
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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 Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS : Not
Available
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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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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Auditors : |
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Name : |
A P and Company Chartered Accountant |
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Address : |
512 A Rewa Chambers, 5th Floor, 31 Sir Vithaldas Thackersey Marg, Mumbai – 400020, Maharashtra, India |
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PAN No.: |
AAAPP4975V |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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|
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|
Enterprises on which key management personnel or their relatives has
significant influence : |
Roshan Fabricators |
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2500000 |
Equity Shares |
Rs. 10/- each |
Rs. 25.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2500000 |
Equity Shares |
Rs. 10/- each |
Rs. 25.000 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
25.000 |
25.000 |
11.500 |
|
(b) Reserves &
Surplus |
19.747 |
15.230 |
17.232 |
|
(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) |
44.747 |
40.230 |
28.732 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
217.111 |
141.503 |
127.399 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(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) |
217.111 |
141.503 |
127.399 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
34.584 |
21.629 |
22.670 |
|
(b) Trade payables |
71.025 |
34.893 |
3.882 |
|
(c) Other current
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) Short-term provisions |
5.478 |
4.750 |
2.850 |
|
Total Current Liabilities
(4) |
111.087 |
61.272 |
29.402 |
|
|
|
|
|
|
TOTAL |
372.945 |
243.005 |
185.533 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
2.417 |
2.951 |
1.814 |
|
(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 |
1.638 |
1.638 |
1.638 |
|
(c) Deferred tax assets
(net) |
0.416 |
0.404 |
0.434 |
|
(d) Long-term Loan and Advances |
1.077 |
1.026 |
1.027 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
5.548 |
6.019 |
4.913 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
145.837 |
93.813 |
63.254 |
|
(c) Trade receivables |
201.102 |
124.009 |
106.811 |
|
(d) Cash and cash
equivalents |
1.330 |
1.095 |
0.874 |
|
(e) Short-term loans and
advances |
19.087 |
18.006 |
9.596 |
|
(f) Other current assets |
0.041 |
0.063 |
0.085 |
|
Total Current Assets |
367.397 |
236.986 |
180.620 |
|
|
|
|
|
|
TOTAL |
372.945 |
243.005 |
185.533 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
|
INCOME |
NA |
NA |
NA |
|
|
|
|
|
|
|
Less |
EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
Less |
TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
5.170 |
3.748 |
3.121 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
2.068 |
1.4992 |
1.2484 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
5.62 |
4.05 |
5.22 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.31 |
3.87 |
6.14 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
11.500 |
25.000 |
25.000 |
|
Reserves & Surplus |
17.232 |
15.230 |
19.747 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
28.732 |
40.230 |
44.747 |
|
|
|
|
|
|
long-term borrowings |
127.399 |
141.503 |
217.111 |
|
Short term borrowings |
22.670 |
21.629 |
34.584 |
|
Current Maturities of
Long Term Debt |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
150.069 |
163.132 |
251.695 |
|
Debt/Equity ratio |
5.223 |
4.055 |
5.625 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
No |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE: Registered office of the company has been
shifted from Gokul GM-1
Mezannine Floor, 80/A Baroda Street, Sant Tukaram Road, Mumbai – 400 009,
Maharashtra to the present address w.e.f.
27.12.2010
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
SHORT TERM
BORROWINGS |
|
|
|
Loans and advances from directors |
32.149 |
21.164 |
|
Loans and advances from others |
2.435 |
0.465 |
|
Total |
34.584 |
21.629 |
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10536931 |
09/05/2015 * |
180,000,000.00 |
KOTAK MAHINDRA BANK LIMITED |
382/384, NARASINATHA STREET, KATHA BAZAR, MANDVI (W), MUMBAI, MAHARASHTRA - 400009, INDIA |
C56605892 |
|
2 |
90151930 |
18/08/1998 * |
2,500,000.00 |
UNION BANK OF INDIA |
SANT TUKARAM ROAD, APEEJAY SURENDRA; 34; BARODA STREET, MUMBAI, MAHARASHTRA - 400009, INDIA |
- |
* Date of charge modification
FIXED ASSETS
- Buildings
- Office building
- Plant and equipment
- Other plant and equipment
- Furniture and fixtures
- Vehicles
- Motor vehicles
- Office equipment
- Computer 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. 63.40 |
|
|
1 |
Rs. 98.94 |
|
Euro |
1 |
Rs. 70.33 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUP |
|
|
|
|
Analysis Done by
: |
KIN |
|
|
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|
Report Prepared
by : |
TRU |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
27 |
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.