MIRA INFORM REPORT
|
Report No. : |
332038 |
|
Report Date : |
18.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
GORLAN
INDIA SWITCHGEARS PRIVATE LIMITED (w.e.f. 12.06.2015) |
|
|
|
|
Formerly Known As
: |
GEM TELERGON SWITCHGEARS
PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
22/24, Textool Feeder Industrial Estate,
Ganapathy Post, Coimbatore – 641 006, Tamilnadu |
|
Tel. No.: |
91-422-4392648 |
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|
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Country : |
India |
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|
|
|
Financials (as on)
: |
31.03.2015 |
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|
|
|
Date of
Incorporation : |
16.02.1999 |
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|
|
|
Com. Reg. No.: |
18-008747 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs.8.000 million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U32109TZ1999PTC008747 |
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|
|
|
IEC No.: |
3299005464 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
AAACG9934A |
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|
|
Legal Form : |
Private Limited Liability Company |
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|
|
Line of Business
: |
Subject is involved in manufacturing of Rotary Cam Switch,
Breaker Control Switch and DC Switch for solar application. |
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|
|
|
No. of Employees
: |
70 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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|
|
|
Payment Behaviour : |
Usually Correct |
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|
|
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Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an old
and established company incorporated during the year 1999 having a
satisfactory track record. Available
financial indicates company’s sound financial risk profile marked by healthy
networth position with fair profitability and favorable gap between trade
payable and trade receivable. Trade relations
are reported as fair. Business is active. Payments are reported to be usually
correct. In view of long standing
record and acceptable financial base, 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 – 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 |
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
31-03-2013.
INFORMATION PARTED BY
|
Name : |
Ms. Vijayalaxmi |
|
Designation : |
Accountant |
|
Contact No.: |
91-422-4392648 |
|
Date : |
16.07.2015 |
LOCATIONS
|
Registered Office/ Administrative Office : |
22/24, Textool Feeder Industrial Estate,
Ganapathy Post, Coimbatore – 641 006, Tamilnadu, India |
|
Tel. No.: |
91-422-4392648/ 4376841 |
|
Fax No.: |
91-422-4376841 |
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E-Mail : |
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|
Website : |
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|
Location : |
Owned |
|
|
|
|
Factory : |
29, Kalapatty Road, Kavalai Thottam, Saravanampatty,
Coimbatore – 641 035, Tamilnadu, India |
|
Tel. No.: |
91-422-6477030/ 6477040 |
DIRECTORS
AS ON 31.03.2015
|
Name : |
Mr. Roberto Tarancon Delgado |
|
Designation : |
Director |
|
Address : |
Avda
De La Ilustra, Cion 36C39, Zaragoza, 36C39, Spain |
|
Date of Birth/Age : |
27.04.1970 |
|
Date of Appointment : |
16.12.1999 |
|
DIN No.: |
00388237 |
|
|
|
|
Name : |
Mr. Jose Julio Gomez Barbero |
|
Designation : |
Director |
|
Address : |
Calle
Juan Prado N 8, Gexto, Vizcaya, 48992, Spain |
|
Date of Birth/Age : |
03.03.1960 |
|
Date of Appointment : |
17.01.2006 |
|
DIN No.: |
00595190 |
|
|
|
|
Name : |
Ms. Rajini Varadarajan |
|
Designation : |
Director |
|
Address : |
1050,
Balasundaram Road, Coimbatore – 641 018, Tamilnadu, India |
|
Date of Birth/Age : |
29.02.1956 |
|
Date of Appointment : |
16.12.1999 |
|
DIN No.: |
00761159 |
KEY EXECUTIVES
|
Name : |
Ms. Vijayalaxmi |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2015
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Telergon SAU, Spain |
551950 |
68.99 |
|
Rajini
Varadarajan |
248050 |
31.01 |
|
Total |
800000 |
100.00 |
AS ON 29.07.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
68.99 |
|
Directors
or relatives of directors |
|
31.01 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is involved in manufacturing of Rotary Cam Switch,
Breaker Control Switch and DC Switch for solar application. |
|
|
|
|
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 : |
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Products : |
Raw Materials |
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Countries : |
Spain |
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Terms : |
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Selling : |
Cash and Credit (30/ 60/ 90 days) |
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Purchasing : |
Cash and Credit (30/ 60/ 90 days)
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PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
End Users and OEM’s
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No. of Employees : |
70 (Approximately) |
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Bankers : |
·
Citibank N.A., Coimbatore, Tamilnadu, India ·
Bank of Baroda, Tatabad Branch, Coimbatore, Tamilnadu, India |
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Facilities : |
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Banking Relations
: |
-- |
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Auditors : |
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|
Name : |
Kumbhat and Company Chartered Accountants |
|
Address : |
40, Aishwarya, 196, T.V. Swamy Road (W), R.S. Puram, Coimbatore – 641
002, Tamilnadu, India |
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Income-tax
PAN of auditor or auditor's firm : |
AAAFK5509L |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Related Parties : |
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Major Shareholder: |
Telergon SAU |
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Associate of Telergon SAU: |
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Entity in which Director is interested: |
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CAPITAL STRUCTURE
AS ON 29.07.2015
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1250000 |
Equity Shares |
Rs.10/- each |
Rs.12.500 million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
800000 |
Equity Shares |
Rs.10/- each |
Rs.8.000 million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)
Shareholders' Funds |
|
|
|
|
(a) Share Capital |
8.000 |
8.000 |
8.000 |
|
(b) Reserves &
Surplus |
68.720 |
65.446 |
52.315 |
|
(c) Share Capital
Suspense Account |
0.291 |
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
77.011 |
73.446 |
60.315 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(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 |
0.812 |
0.507 |
0.624 |
|
Total Non-current
Liabilities (3) |
0.812 |
0.507 |
0.624 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short term borrowings |
3.077 |
5.060 |
17.378 |
|
(b) Trade payables |
34.965 |
2.814 |
7.854 |
|
(c) Other current
liabilities |
9.898 |
9.411 |
8.405 |
|
(d) Short-term provisions |
17.102 |
7.020 |
12.426 |
|
Total Current Liabilities
(4) |
65.042 |
24.305 |
46.063 |
|
|
|
|
|
|
TOTAL |
142.865 |
98.258 |
107.002 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i) Tangible assets |
5.557 |
6.716 |
7.775 |
|
(ii) Intangible Assets |
0.120 |
0.028 |
0.047 |
|
(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) |
0.169 |
0.088 |
0.014 |
|
(d) Long-term Loan and Advances |
0.004 |
0.004 |
0.004 |
|
(e) Other Non-current
assets |
0.636 |
1.305 |
0.529 |
|
Total Non-Current Assets |
6.486 |
8.141 |
8.369 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
17.861 |
15.390 |
14.735 |
|
(c) Trade receivables |
62.103 |
25.299 |
31.708 |
|
(d) Cash and cash
equivalents |
45.581 |
42.889 |
44.152 |
|
(e) Short-term loans and
advances |
0.000 |
0.000 |
0.000 |
|
(f) Other current assets |
10.834 |
6.539 |
8.038 |
|
Total Current Assets |
136.379 |
90.117 |
98.633 |
|
|
|
|
|
|
TOTAL |
142.865 |
98.258 |
107.002 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Turnover |
157.913 |
111.111 |
223.369 |
|
|
|
|
(Due to bad
market conditions) |
||
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
26.617 |
25.181 |
54.193 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1.985 |
1.621 |
1.806 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
24.632 |
23.560 |
52.387 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
8.731 |
7.620 |
17.796 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
15.901 |
15.939 |
34.591 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
58.649 |
47.111 |
20.659 |
|
|
|
|
|
|
|
|
|
Add |
TRANSFER OF
BALANCE OF PROFIT AND LOSS FROM GTPL |
2.356 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
1.600 |
1.593 |
3.459 |
|
|
|
Proposed Dividend |
12.437 |
2.400 |
4.000 |
|
|
|
Distribution Tax on Proposed Dividend |
2.546 |
0.408 |
0.680 |
|
|
BALANCE CARRIED
TO THE B/S |
60.323 |
58.649 |
47.111 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Value of exports on FOB basis |
63.233 |
73.517 |
187.698 |
|
|
TOTAL EARNINGS |
63.233 |
73.517 |
187.698 |
|
|
|
|
|
|
|
|
|
|
CIF VALUE OF
IMPORTS |
43.683 |
15.548 |
14.320 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
19.88 |
19.92 |
43.24 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current maturities of long-term debt |
NA |
NA |
NA |
|
Cash generated
from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
17.26 |
24.00 |
48.97 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.32 |
0.32 |
0.87 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.04 |
0.07 |
0.29 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.10 |
3.71 |
2.14 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
8.000 |
8.000 |
8.000 |
|
Reserves & Surplus |
52.315 |
65.446 |
68.720 |
|
Share Capital Suspense
Account |
0.000 |
0.000 |
0.291 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
60.315 |
73.446 |
77.011 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
17.378 |
5.060 |
3.077 |
|
Total borrowings |
17.378 |
5.060 |
3.077 |
|
Debt/Equity ratio |
0.288 |
0.069 |
0.040 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Turnover |
223.369 |
111.111 |
157.913 |
|
|
|
(50.257) |
42.122 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Turnover |
223.369 |
111.111 |
157.913 |
|
Profit |
34.591 |
15.939 |
15.901 |
|
|
15.49% |
14.35% |
10.07% |
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) |
Yes |
|
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% |
Yes |
|
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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
AMALGAMATION OF GORLAN TECHNOLOGIES PRIVATE
LIMITED (GTPL) WITH THE COMPANY:
The
scheme of Amalgamation under sections 391 and 394 of the Companies Act, 1956,
was sanctioned by the Hon'ble High Court at Madras vide its order dated 31st
March 2015 and the same was filed with the Registrar of Companies Tamilnadu,
Coimbatore on 5th May 2015, The appointed date of the Merger is 1st
April 2014 whereas the effective date is 14th May 2015.
In
accordance with the terms of the sanctioned Scheme, (a) Gorlan Technologies
Private Limited (GTPL) stands merged with the Company with effect from 1st April, 2014, end (b) Shareholders of
the GTPL, shall be allotted in
the specified ratio, 1 equity sham for .every 7 equity shares held of Rs.10/-
each fully paid up.
Consequent
on the implementation of the
Scheme, the paid-up share capital shall stand increased to Rs.8.291 million
divided into 829133 equity shams of Rs.10/- each.
The
financial results for the year ended 31st March, 2015, reflected in
this Report comprise of the results of GTPL as per the sanctioned Scheme.
REVIEW OF OPERATIONS:
The
Company's turnover has increased about 42% as compared to the previous
financial year. Net Profit ratio is decreased due to increase in overheads and
other manufacturing expenses.
FUTURE PROSPECTS:
They
are in the process of consolidating their OEM business where they expect to
sell their products in significant quantities.
Solar
business In India is poised to grow exponentially in the next five years. Last
year India added 1000 MW pf solar power and this fiscal it looks to add close
to 1500 MW. The government has ambitious plans to install 20 GW of solar power
by 2020.
They
have the complete range of DC switch disconnectors that addresses the entire
requirements in a PV installation.
The
business from Telergon SAU expects to remain at the same level.
INDEX
OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10061065 |
01/12/2011 * |
30,000,000.00 |
CITI BANK N.A. |
163, ANNA SALAI, SECOND
FLOOR, CHENNAI, TAMILNADU - 600002, INDIA |
B29871696 |
* Date of charge modification
FIXED ASSETS:
Tangible Assets
·
Plant and Machinery
·
Pattern and Dies
·
Computers
·
Furniture and Fixtures
·
Office Equipment
·
Vehicles
·
Electrical Fittings
Intangible Assets
·
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.63.49 |
|
UK Pound |
1 |
Rs.99.43 |
|
Euro |
1 |
Rs.69.14 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
5 |
|
--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 |
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 |
|
47 |
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.