MIRA INFORM REPORT
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Report No. : |
330892 |
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Report Date : |
08.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
SYNERGIES
CASTINGS LIMITED |
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Registered
Office : |
Flat No: 4A, 6-3-855/10/A, Sampathji Apartments, Sadat Manjil, Ameerpet, Hyderabad – 500016, Telangana |
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Tel. No.: |
91-891-2587181 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
24.01.2005 |
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Com. Reg. No.: |
36-045171 |
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Capital
Investment / Paid-up Capital : |
Rs.285.497 Million |
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CIN No.: [Company Identification
No.] |
U27310TG2005PLC045171 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAICS7410H |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject is engaged in manufacturing and sale of aluminum alloy wheels, chrome plated wheels, other aluminum castings and products and plastic components for the automobile, engineering and other industries. |
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No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (48) |
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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 4300000 |
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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 incorporated in the year 2005,
having satisfactory track. Rating takes into consideration company’s sound financial risk profile
marked by strong networth base and fair profitability in FY 2014. Company has reported significant increase in its sales turnover and
net profit in the year under consideration. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered for business dealings with 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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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
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
31-03-2013.
INFORMATION DENIED
Management non co-operative (91-891-2587181)
LOCATIONS
|
Registered Office : |
Flat No: 4A, 6-3-855/10/A, Sampathji Apartments, Sadat Manjil, Ameerpet, Hyderabad – 500016, Telangana, India |
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Tel. No.: |
91-891-2587181 |
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Fax No.: |
91-891-2587481 |
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E-Mail : |
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Website : |
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Factory : |
3, Visakhapatnam Special Economic Zone
Duvvada, Visakhapatnam – 530049, Andhra Pradesh, India |
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Tel. No.: |
91-891-2587181 |
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Fax No.: |
91-891-2587481 |
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E-Mail : |
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Website : |
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888 W Big |
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E-Mail : |
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USA Warehouse : |
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DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Chirala Padmanayan |
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Designation : |
Whole-Time Director |
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Address : |
Plot No 13, Daspalla Hills, Visakhapatnam, 530003, Andhra Pradesh, India |
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Date of Birth/Age : |
24.01.1965 |
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Date of Appointment : |
01.04.2010 |
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DIN No.: |
00880240 |
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Other Directorship :
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Name : |
Mr. Satyanarayana Buddharaju Raju |
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Designation : |
Whole-Time Director |
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Address : |
9-19-20, Gangotri, C.B.M. Compound, Visakhapatnam - 530003, Andhra Pradesh, India |
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Date of Birth/Age : |
12.11.1963 |
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Date of Appointment : |
01.04.2010 |
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DIN No.: |
01696115 |
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Other Directorship :
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Name : |
Mr. Hemachandran Mathummal Moorkoth |
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Designation : |
Director |
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Address : |
45-54-4, Harika Residency, Abid Nagar, Akkayyapalem, Visakhapatnam - 530016, Andhra Pradesh, India |
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Date of Birth/Age : |
11.10.1953 |
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Date of Appointment : |
22.03.2010 |
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DIN No.: |
02977629 |
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Other Directorship :
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MAJOR SHAREHOLDERS
As on 30.09.2014
SHAREHOLDERS FILE ATTACHED
As on 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
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 |
79.21 |
|
Bodies corporate |
7.39 |
|
Directors or relatives of Directors |
3.95 |
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Other top fifty shareholders |
9.45 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in manufacturing and sale of aluminum
alloy wheels, chrome plated wheels, other aluminum castings and products and plastic
components for the automobile, engineering and other industries. |
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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 : |
(Rs.
In Million)
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Financial Institution : |
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Auditors : |
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Name : |
S.V.Ghatalia and Associates LLP Chartered Accountants |
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Address : |
Oval Office, 18, Ilabs Center, Hitech City, Madhapur, Hyderabad – 500081, Telangana, India |
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PAN No.: |
AACFS6921Q |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding Company: |
Kubera Cross-Border Fund (Mauritius) Limited |
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Subsidiary Company : |
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Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives : |
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CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
21500000 |
Equity Shares |
Rs.10/- each |
Rs.215.000 Million |
|
10500000 |
Preference Shares |
Rs.10/- each |
Rs.105.000 Million |
|
|
Total |
|
Rs.320.000
Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
19479012 |
Equity Shares |
Rs.10/- each |
Rs.194.790
Million |
|
9070734 |
Preference Shares |
Rs.10/- each |
Rs.90.707
Million |
|
|
Total |
|
Rs.285.497 Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
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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 |
285.497 |
285.497 |
286.997 |
|
(b) Reserves &
Surplus |
1245.787 |
1224.577 |
1210.662 |
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(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) |
1531.284 |
1510.074 |
1497.659 |
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(3) Non-Current
Liabilities |
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(a) long-term borrowings |
169.653 |
103.313 |
101.735 |
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(b) Deferred tax
liabilities (Net) |
11.191 |
9.999 |
14.468 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
12.726 |
12.672 |
10.609 |
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Total Non-current
Liabilities (3) |
193.570 |
125.984 |
126.812 |
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(4) Current Liabilities |
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|
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(a) Short term borrowings |
264.036 |
225.722 |
177.411 |
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(b) Trade payables |
295.382 |
214.455 |
108.501 |
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(c) Other current
liabilities |
75.188 |
187.629 |
74.870 |
|
(d) Short-term provisions |
73.936 |
65.184 |
47.425 |
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Total Current Liabilities
(4) |
708.542 |
692.990 |
408.207 |
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|
|
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TOTAL |
2433.396 |
2329.048 |
2032.678 |
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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 |
268.969 |
272.377 |
300.680 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
657.927 |
628.755 |
591.713 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
926.896 |
901.132 |
892.393 |
|
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(2) Current assets |
|
|
|
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(a) Current investments |
0.000 |
0.280 |
0.265 |
|
(b) Inventories |
853.993 |
841.303 |
690.900 |
|
(c) Trade receivables |
452.236 |
485.910 |
299.761 |
|
(d) Cash and cash
equivalents |
12.485 |
11.543 |
85.998 |
|
(e) Short-term loans and
advances |
184.894 |
86.895 |
63.305 |
|
(f) Other current assets |
2.892 |
1.985 |
0.056 |
|
Total Current Assets |
1506.500 |
1427.916 |
1140.285 |
|
|
|
|
|
|
TOTAL |
2433.396 |
2329.048 |
2032.678 |
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
2134.583 |
1761.091 |
1583.759 |
|
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Other Income |
58.042 |
7.685 |
31.974 |
|
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TOTAL |
2192.625 |
1768.776 |
1615.733 |
|
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|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
991.876 |
890.517 |
847.919 |
|
|
Purchases of
Stock-in-Trade |
0.000 |
0.000 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(6.483) |
(150.617) |
(247.531) |
|
|
Employees benefits
expense |
207.072 |
188.177 |
177.585 |
|
|
Other expenses |
856.445 |
708.052 |
650.283 |
|
|
TOTAL |
2048.910 |
1636.129 |
1428.256 |
|
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|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
143.715 |
132.647 |
187.477 |
|
|
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|
|
|
Less |
FINANCIAL EXPENSES |
41.703 |
34.482 |
24.736 |
|
|
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|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
102.012 |
98.165 |
162.741 |
|
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|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
57.489 |
68.146 |
62.280 |
|
|
|
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|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
44.523 |
30.019 |
100.461 |
|
|
|
|
|
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|
Less |
TAX |
18.060 |
10.810 |
33.829 |
|
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|
|
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|
|
|
PROFIT/ (LOSS) AFTER TAX
|
26.463 |
19.209 |
66.632 |
|
|
|
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|
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|
|
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|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
1.521 |
0.954 |
NA |
|
|
TOTAL EARNINGS |
1.521 |
0.954 |
NA |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
|
|
|
|
Basic |
1.09 |
0.71 |
3.44 |
|
|
Diluted |
0.85 |
0.56 |
2.65 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
2.093 |
0.000 |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
36.353 |
0.286 |
62.924 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
1.24 |
1.09 |
4.21 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT / Sales) |
(%) |
6.73 |
7.53 |
11.84 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.83 |
1.29 |
4.94 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03 |
0.02 |
0.07 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.28 |
0.22 |
0.19 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.13 |
2.06 |
2.79 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
286.997 |
285.497 |
285.497 |
|
Reserves & Surplus |
1210.662 |
1224.577 |
1245.787 |
|
Net worth |
1497.659 |
1510.074 |
1531.284 |
|
|
|
|
|
|
long-term borrowings |
101.735 |
103.313 |
169.653 |
|
Short term borrowings |
177.411 |
225.722 |
264.036 |
|
Total borrowings |
279.146 |
329.035 |
433.689 |
|
Debt/Equity ratio |
0.186 |
0.218 |
0.283 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
1583.759 |
1761.091 |
2134.583 |
|
|
|
11.197 |
21.208 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
1583.759 |
1761.091 |
2134.583 |
|
Profit |
66.632 |
19.209 |
26.463 |
|
|
4.21% |
1.09% |
1.24% |
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 |
No |
|
8 |
Designation of contact person |
No |
|
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 |
Yes |
|
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 |
Yes |
|
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 |
No |
|
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 |
CORPORATE INFORMATION
The Company is engaged in manufacturing and sale of aluminum alloy wheels, chrome plated wheels, other aluminium castings and products and plastic components for the automobile, engineering and other industries. With its manufacturing facility being located at Vishakhapatnam, the Company serves both Indian and global customers.
REVIEW OF OPERATIONS
The Company has recorded Net Sales and Other Income of Rs. 2192.620 million during the year against Rs.1774.02 million during the previous year; the Company has recorded a Net Profit of Rs. 26.460 million during the year against a Net Profit of Rs.19.200 million in the previous year.
PERFORMANCE
FY 2013-14 was a healthier year for wheel business compared to the previous year. Both Exports and Domestic Market showed remarkable signs of recovery/improvement. Imposition of Anti Dumping Duty on Alloy Wheels imported from China, Korea, Taiwan etc by Government of India boosted the orders for wheels from Domestic OEMs.
The US market continues to be very strong; particularly in the product segment where they are suppliers. Both in terms of the volumes, and the realizations, we expect improvement, and therefore a positive impact on their bottomline. Their various strategic initiatives such as the organic expansion, technological up gradation and exploration of Greenfield opportunities in the Middle East are all progressing well. In summary, we are setting the foundation for their progress from stabilization phase to growth phase.
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWING |
|
|
|
Rupee term loans from others |
59.340 |
0.000 |
|
Deferred sales tax loan |
93.296 |
93.296 |
|
Loans and advances from others |
17.017 |
10.017 |
|
SHORT TERM
BORROWING |
|
|
|
Loans and advances from others [Unsecured loans from directors and others carries 12% Interest] |
28.881 |
25.260 |
|
Total |
198.534 |
128.573 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10436102 |
09/07/2013 |
220,000,000.00 |
MAHINDRA AND MAHINDRA FINANCIAL SERVICES LIMITED |
GATEWAY BUILDING, APOLLO BUNDER, MUMBAI - 400001, MAHARASHTRA, INDIA |
B79293676 |
|
2 |
10230650 |
26/05/2014 * |
220,000,000.00 |
IFCI FACTORS LIMITED |
10TH FLOOR, IFCI TOWER, 61, NEHRU PLACE, NEW DELHI, DELHI - 110019, INDIA |
C06450902 |
* Date of charge modification
FIXED ASSETS
- Buildings
- Plant and equipment
- Furniture and fixtures
- 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.63.37 |
|
|
1 |
Rs.98.85 |
|
Euro |
1 |
Rs.69.96 |
INFORMATION DETAILS
|
Information Gathered
by : |
SPR |
|
|
|
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
SNT / PNM |
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 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
NO |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
48 |
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.