MIRA INFORM REPORT
|
Report No. : |
331179 |
|
Report Date : |
09.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
HORIZON MICROTECH PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No.311, Road No.4-A, G.I.D.C. Estate, Kathwada Ahmedabad – 382
430, Gujarat |
|
Tel. No.: |
91-79-22900078 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
22.02.1994 |
|
|
|
|
Com. Reg. No.: |
04-021356 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.18.766
million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U30007GJ1994PTC021356 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Available |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the manufacturing of industrial electrical and
custom built low and high voltage electrical control panels. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 259000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an
established company incorporated during the year 1994. It is engaged in the business
of manufacturing of industrial electrical and custom built low and high
voltage electrical control panels. It has a satisfactory track record. For the financial
year ended 2014, the company has reported good functioning in its operations
and has achieved fine topline growth of 14.07% along with profitability
margin of 2.3%. Further, rating
reflects company’s established track record of business backed by decent
networth position along with good gap between trade payables and receivables.
Trade relations
are fair. Business is active. Payment terms are usually correct. In view of
aforesaid, the company can be considered healthy 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 – 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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long-Term Bank Facilities: BB |
|
Rating Explanation |
Inadequate credit quality and high credit
risk. |
|
Date |
26.06.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short-Term Bank Facilities: A4 |
|
Rating Explanation |
Minimal degree of safety and carry very high
credit risk. |
|
Date |
26.06.2014 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2013.
LOCATIONS
|
Registered Office/ Factory : |
Plot No.311, Road No.4-A, G.I.D.C. Estate, Kathwada Ahmedabad – 382
430, Gujarat, India |
|
Tel. No.: |
91-79-22900078/ 22900120/ 22900171/ 39874200 |
|
Fax No.: |
91-79-22900253/ 39874293 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branch Office : |
608, Sakar V, Behind Natraj Cinema, Ashram Road, Ahmedabad – 380 009, Gujarat,
India |
|
Tele/ Fax No.: |
91-79-26582230/ 26582192 |
|
E-Mail : |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Kaumil Baldevbhai Patel |
|
Designation : |
Director |
|
Address : |
G-77,
Ratilal Park, Near Darpan Society, P.O. Navjivan, Ahmedabad – 380 014,
Gujarat, India |
|
Date of Birth/Age : |
03.05.1969 |
|
Date of Appointment : |
22.02.1994 |
|
DIN No.: |
01154162 |
|
|
|
|
Name : |
Mr. Bhagirath Chandravadan Choksi |
|
Designation : |
Director |
|
Address : |
24,
New Alkapuri Society, Gulbai Tekra, Near Polytechnic, Ahmedabad – 380 015,
Gujarat, India |
|
Date of Birth/Age : |
16.10.1969 |
|
Date of Appointment : |
22.02.1994 |
|
DIN No.: |
01153613 |
|
|
|
|
Name : |
Mr. Saumil Bipinbhai Gandhi |
|
Designation : |
Director |
|
Address : |
I-5,
Sujata Flats, Camp Road, Shahibaug, Ahmedabad – 380 004, Gujarat, India |
|
Date of Birth/Age : |
04.07.1969 |
|
Date of Appointment : |
22.02.1994 |
|
DIN No.: |
01226714 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Kaumil Baldevbhai Patel |
504322 |
26.87 |
|
Saumil Bipinchaandra Gandhi |
504322 |
26.87 |
|
Bhagirath Chandravadan Choksi |
504322 |
26.87 |
|
Vikas P. Desai |
6120 |
0.33 |
|
Rakesh J. Patel |
510 |
0.04 |
|
Vaishali S. Gandhi |
119000 |
6.34 |
|
Vaishali K. Patel |
119000 |
6.34 |
|
Hetal B. Choksi |
119000 |
6.34 |
|
Total |
1876596 |
100.00 |
AS ON 30.09.2014
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the manufacturing of Industrial Electrical and
Custom Built Low and High Voltage Electrical Control Panels. |
|
|
|
|
Products : |
Switchgear Panels and Controls |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Available |
|
|
|
|
Imports : |
Not Available |
|
|
|
|
Terms : |
|
|
Selling : |
Not Available |
|
|
|
|
Purchasing : |
Not Available |
PRODUCTION STATUS (AS ON 31.03.2014):
|
Particulars |
Installed
Capacity |
Actual
Production |
|
Electrical Panel-LT |
9102 |
3315 |
|
Electrical Panel-HT |
17 |
67 |
|
Electronic Integrated Circuit |
7800 |
9692 |
Details of licensed capacity have not been provided as the products have
been de-licensed.
The Installed capacity is as certified by the management and not
verified by the auditors, this being a technical matter.
GENERAL INFORMATION
|
Suppliers : |
|
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Customers : |
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No. of Employees : |
Not Available |
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|
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Bankers : |
HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg,
Lower Parel (West), Mumbai – 400 013, Maharashtra, India |
|||||||||||||||||||||||||||||||||||||||
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Facilities : |
Notes: LONG TERM
BORROWINGS
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
V.J. Choksi and Company Chartered Accountants |
|
Address : |
301, Jolly Bhavan, 2, New Marine Lines, Mumbai – 400 020, Maharashtra,
India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFV7653G |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Enterprises controlled by Key Management Personnel : |
Parth Electricals |
CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000 million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1876596 |
Equity Shares |
Rs.10/- each |
Rs.18.766
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 |
18.766 |
7.896 |
7.896 |
|
(b) Reserves & Surplus |
71.785 |
67.436 |
62.761 |
|
(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) |
90.551 |
75.332 |
70.657 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
83.853 |
69.318 |
59.483 |
|
(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 |
0.834 |
1.048 |
0.607 |
|
Total Non-current Liabilities (3) |
84.687 |
70.366 |
60.090 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short term borrowings |
65.081 |
51.791 |
32.067 |
|
(b) Trade payables |
90.282 |
58.333 |
120.609 |
|
(c) Other current liabilities |
25.582 |
51.764 |
33.045 |
|
(d) Short-term provisions |
9.065 |
4.304 |
9.798 |
|
Total Current Liabilities (4) |
190.010 |
166.192 |
195.519 |
|
|
|
|
|
|
TOTAL |
365.248 |
311.890 |
326.266 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
91.965 |
83.741 |
23.828 |
|
(ii) Intangible Assets |
0.159 |
0.170 |
0.007 |
|
(iii) Capital work-in-progress (including
advances) |
37.789 |
14.276 |
1.952 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
13.133 |
13.133 |
13.133 |
|
(c) Deferred tax assets (net) |
0.255 |
0.233 |
0.121 |
|
(d)
Long-term Loan and Advances |
1.977 |
0.950 |
0.834 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
145.278 |
112.503 |
39.875 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
103.730 |
119.359 |
182.713 |
|
(c) Trade receivables |
97.995 |
62.857 |
81.171 |
|
(d) Cash and cash equivalents |
1.819 |
9.410 |
9.249 |
|
(e) Short-term loans and advances |
15.376 |
7.537 |
11.712 |
|
(f) Other current assets |
1.050 |
0.224 |
1.546 |
|
Total Current Assets |
219.970 |
199.387 |
286.391 |
|
|
|
|
|
|
TOTAL |
365.248 |
311.890 |
326.266 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
632.760 |
554.820 |
502.600 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
19.920 |
7.660 |
27.070 |
|
|
|
|
|
|
|
|
|
|
TAX |
4.810 |
1.600 |
7.150 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
15.120 |
6.060 |
19.920 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Exports |
14.342 |
15.248 |
11.235 |
|
|
TOTAL EARNINGS |
14.342 |
15.248 |
11.235 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
27.873 |
11.106 |
0.000 |
|
|
|
Raw Materials |
12.675 |
21.834 |
12.238 |
|
|
|
Others |
0.393 |
0.179 |
0.411 |
|
|
TOTAL IMPORTS |
40.941 |
33.119 |
12.649 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
8.06 |
7.67 |
25.23 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current maturities of long-term debt |
10.895 |
10.895 |
1.476 |
|
Cash generated
from operations |
23.590 |
67.068 |
(0.468) |
|
Net cash flows from (used in) operating
activities |
21.429 |
60.826 |
(6.177) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
2.39 |
1.09 |
3.96 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.34 |
2.69 |
8.70 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.22 |
0.10 |
0.38 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.77 |
1.75 |
1.32 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.16 |
1.20 |
1.46 |
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 |
7.896 |
7.896 |
18.766 |
|
Reserves & Surplus |
62.761 |
67.436 |
71.785 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
70.657 |
75.332 |
90.551 |
|
|
|
|
|
|
Long-term borrowings |
59.483 |
69.318 |
83.853 |
|
Short term borrowings |
32.067 |
51.791 |
65.081 |
|
Current maturities of
long-term debts |
1.476 |
10.895 |
10.895 |
|
Total borrowings |
93.026 |
132.004 |
159.829 |
|
Debt/Equity ratio |
1.317 |
1.752 |
1.765 |
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 |
502.600 |
554.820 |
632.760 |
|
|
|
10.390 |
14.048 |
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 |
502.600 |
554.820 |
632.760 |
|
Profit |
19.920 |
6.060 |
15.120 |
|
|
3.96% |
1.09% |
2.39% |
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 |
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 |
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 |
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 |
UNSECURED LOAN
|
Particulars |
31.03.2014 (Rs. in Million) |
31.03.2013 (Rs. in Million) |
|
LONG TERM
BORROWINGS |
|
|
|
Loans and advances from Related Parties |
9.118 |
11.378 |
|
Other loans and advances from Other Parties |
3.387 |
5.534 |
|
Total |
12.505 |
16.912 |
INDEX
OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10405170 |
24/09/2014 * |
372,950,000.00 |
CORPORATION BANK |
PRAHALADNAGAR BRANCH,
AHMEDABAD – 380 015, GUJARAT, INDIA |
C29698990 |
|
2 |
10400646 |
25/05/2015 * |
365,450,000.00 |
CORPORATION BANK |
PRAHALADNAGAR BRANCH,
AHMEDABAD – 380 015, GUJARAT, INDIA |
C56770977 |
* Date of charge modification
CONTINGENCIES AND
EVENTS:
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Contingent liabilities on Letters of Guarantee issued by Bank |
81.835 |
99.112 |
|
Liabilities disputed and not provided for-Income Tax – under CIT
(Appeal) |
2.726 |
4.158 |
|
Custom Duty Liability which may arise if obligation for exports is not
fulfilled against import of machinery under Zero Duty EPCG Scheme |
54.916 |
2.894 |
|
Estimated amount of contracts remaining to be executed on capital
account and not provided for |
65.824 |
2.965 |
FIXED ASSETS:
Tangible Assets
·
Computer
·
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·
Factory Building
·
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·
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·
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Intangible
Assets
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Computer Software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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 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.63.57 |
|
UK Pound |
1 |
Rs.98.22 |
|
Euro |
1 |
Rs.69.93 |
INFORMATION DETAILS
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
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 |
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 |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
44 |
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.