MIRA INFORM REPORT
|
Report No. : |
332017 |
|
Report Date : |
18.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
TAPAN SOLAR ENERGY PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
C-55,
Block-C, Surajmal Vihar, Delhi – 110 092 |
|
Tel. No.: |
91-11-42111913/ 42111914 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
03.08.2010 |
|
|
|
|
Com. Reg. No.: |
55-206622 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.13.278
million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U40106DL2010PTC206622 |
|
|
|
|
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 crystalline
solar photovoltaic module and also engaged in manufacturing of solar lantern and
trading of solar home lighting system, solar street lights and solar water
heaters. |
|
|
|
|
No. of Employees
: |
Information declined by the Management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established
company incorporated during the year 2010 having a moderate track record. The company has
progressed well during FY 2014. It has achieved a fair profitability and has
successfully wiped off its accumulated losses of the previous year. However, the
rating is constrained on account of low reserves level of the company and
huge borrowings recorded by the company. Trade relations
are reported as 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.
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 |
ICRA |
|
Rating |
Fund-Based Limit: B- |
|
Rating Explanation |
High risk of default. |
|
Date |
March, 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.
INFORMATION DECLINED BY
|
Name : |
Mr. Ajit |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-120-4377025 |
|
Date : |
15.07.2015 |
LOCATIONS
|
Registered Office : |
C-55,
Block-C, Surajmal Vihar, Delhi – 110 092, India |
|
Tel. No.: |
91-11-42111913/ 42111914 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office : |
Site 4, 4/16, Adarsh Industrial Area,
Sahibabad – 201 010, Uttar Pradesh, India |
|
Tel. No.: |
91-120-4377025/ 4377024/ 25/ 26 |
|
|
|
|
Branch Office 1 : |
D-2224, Indira Nagar, Lucknow, Uttar
Pradesh, India |
|
E-Mail : |
|
|
|
|
|
Branch Office 2 : |
Shop No.5, Block A, Ashoka Palace,
Exhibition Road, Patna – 800 001, Bihar, India |
|
E-Mail : |
|
|
|
|
|
Branch Office 3 : |
Located at: ·
Indore |
|
E-Mail : |
|
|
|
|
|
Manufacturing Unit : |
G-174, Neemrana Industrial Area, Phase-2,
District Alwar, Rajasthan, India |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Ms.
Shakuntla Devi Harlalka |
|
Designation : |
Director |
|
Address : |
C-270,
Suraj Mal Vihar, Shahdara, C-Block Market, Delhi – 110 092, India |
|
Date of Birth/Age : |
10.12.1956 |
|
Date of Appointment : |
03.08.2010 |
|
DIN No.: |
03121546 |
|
|
|
|
Name : |
Mr.
Abhinav Harlalka |
|
Designation : |
Director |
|
Address : |
C-55,
Block-C, Surajmal Vihar, Delhi – 110 092, India |
|
Date of Birth/Age : |
25.05.1988 |
|
Date of Appointment : |
03.08.2010 |
|
DIN No.: |
03121559 |
|
|
|
|
Name : |
Mr.
Anup Harlalka |
|
Designation : |
Director |
|
Address : |
C-55,
Block-C, Surajmal Vihar, Delhi – 110 092, India |
|
Date of Birth/Age : |
07.02.1991 |
|
Date of Appointment : |
03.08.2010 |
|
DIN No.: |
03121571 |
|
|
|
|
Name : |
Mr.
Abhishek Harlalka |
|
Designation : |
Director |
|
Address : |
C-55,
Block-C, Surajmal Vihar, Delhi – 110 092, India |
|
Date of Birth/Age : |
29.09.1988 |
|
Date of Appointment : |
03.08.2010 |
|
DIN No.: |
03121578 |
|
|
|
|
Name : |
Somya
Harlalka |
|
Designation : |
Director |
|
Address : |
C-270,
Block-C, Surajmal Vihar, Delhi – 110 092, India |
|
Date of Birth/Age : |
01.05.1986 |
|
Date of Appointment : |
03.08.2010 |
|
DIN No.: |
03121586 |
|
|
|
|
Name : |
Ms.
Payal Mittal |
|
Designation : |
Additional
Director |
|
Address : |
Mittal
Sadan, East Boring Canal Road, Patna – 800 001, Bihar, India |
|
Date of Birth/Age : |
11.10.1979 |
|
Date of Appointment : |
16.08.2010 |
|
DIN No.: |
01667781 |
|
|
|
|
Name : |
Mr.
Abhishek Mittal |
|
Designation : |
Additional
Director |
|
Address : |
Boring
Canal Road, Patna – 800 001, Bihar, India |
|
Date of Birth/Age : |
26.11.1981 |
|
Date of Appointment : |
16.08.2010 |
|
DIN No.: |
01670099 |
KEY EXECUTIVES
|
Name : |
Mr. Ajit |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
Note:
Shareholding details file attached.
AS ON 30.09.2014
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
28.90 |
|
Directors
or relatives of directors |
|
71.10 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the manufacturing of crystalline
solar photovoltaic module and also engaged in manufacturing of solar lantern and
trading of solar home lighting system, solar street lights and solar water
heaters. |
|
|
|
|
Products : |
·
Crystalline (Mono/ Multi) Solar Photovoltaic
Modules ·
Solar Street Lights ·
Solar Lanterns ·
Solar Home Lighting Systems ·
Solar Charge Controllers/ LED Luminaries |
|
|
|
|
Brand Names : |
“ELECSSOL” |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
|
|
Selling : |
Not Divulged |
|
|
|
|
Purchasing : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the Management. |
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Bankers : |
Bank of Baroda |
|||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
R K D S and Associates Chartered Accountants |
|
Address : |
48/33-34, 2nd Floor, DSIDC Complex, Opposite Police
Station, Pocket-2, Mayur Vihar, Phase-1, New Delhi – 110 091, India |
|
Tel. No.: |
91-11-43032760/ 22759807 |
|
Mobile No.: |
91-9810432240 |
|
E-Mail : |
|
|
Income-tax
PAN of auditor or auditor's firm : |
AACFR8113K |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1500000 |
Equity Shares |
Rs.10/- each |
Rs.15.000 million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1327770 |
Equity Shares |
Rs.10/- each |
Rs.13.278
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 |
13.278 |
13.278 |
13.278 |
|
(b) Reserves &
Surplus |
0.595 |
(6.543) |
21.740 |
|
(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) |
13.873 |
6.735 |
35.018 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
49.427 |
56.177 |
42.711 |
|
(b) Deferred tax
liabilities (Net) |
2.035 |
0.684 |
0.612 |
|
(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) |
51.462 |
56.861 |
43.323 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short term borrowings |
29.544 |
28.886 |
30.050 |
|
(b) Trade payables |
12.061 |
7.416 |
6.277 |
|
(c) Other current
liabilities |
14.276 |
16.324 |
12.002 |
|
(d) Short-term provisions |
0.030 |
0.030 |
0.030 |
|
Total Current Liabilities
(4) |
55.911 |
52.656 |
48.359 |
|
|
|
|
|
|
TOTAL |
121.246 |
116.252 |
126.700 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i) Tangible assets |
67.819 |
59.220 |
67.199 |
|
(ii) Intangible Assets |
0.005 |
0.004 |
0.006 |
|
(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 |
3.665 |
3.443 |
0.627 |
|
(e) Other Non-current
assets |
0.022 |
0.043 |
0.065 |
|
Total Non-Current Assets |
71.511 |
62.710 |
67.897 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
27.896 |
27.371 |
39.495 |
|
(c) Trade receivables |
17.969 |
20.719 |
14.749 |
|
(d) Cash and cash
equivalents |
0.069 |
0.855 |
3.648 |
|
(e) Short-term loans and
advances |
3.801 |
4.597 |
0.911 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
49.735 |
53.542 |
58.803 |
|
|
|
|
|
|
TOTAL |
121.246 |
116.252 |
126.700 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Turnover |
217.681 |
129.885 |
44.536 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
1.046 |
(19.288) |
(23.090) |
|
|
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
(7.443) |
8.923 |
8.298 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
8.489 |
(28.211) |
(31.388) |
|
|
|
|
|
|
|
|
|
|
TAX |
1.351 |
0.072 |
0.618 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
7.138 |
(28.283) |
(32.028) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
6.868 |
3.706 |
2.713 |
|
|
|
|
|
|
|
|
|
|
CIF VALUE OF
IMPORTS |
60.141 |
52.204 |
55.540 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
5.38 |
(21.30) |
(24.12) |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current maturities of long-term loans |
8.000 |
8.254 |
8.354 |
|
Cash generated
from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.00 |
(24.27) |
(24.77) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.61 |
(4.19) |
(0.90) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
6.27 |
13.86 |
2.32 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.89 |
1.02 |
1.22 |
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 |
13.278 |
13.278 |
13.278 |
|
Reserves & Surplus |
21.740 |
(6.543) |
0.595 |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
35.018 |
6.735 |
13.873 |
|
|
|
|
|
|
Long-term borrowings |
42.711 |
56.177 |
49.427 |
|
Short term borrowings |
30.050 |
28.886 |
29.544 |
|
Current maturities of long-term loans |
8.354 |
8.254 |
8.000 |
|
Total borrowings |
81.115 |
93.317 |
86.971 |
|
Debt/Equity ratio |
2.316 |
13.856 |
6.269 |
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) |
|
Turnover |
44.536 |
129.885 |
217.681 |
|
|
|
191.640 |
67.595 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Turnover |
44.536 |
129.885 |
217.681 |
|
Profit |
(32.028) |
(28.283) |
7.138 |
|
|
(71.91%) |
(21.78%) |
3.28% |
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 |
No |
|
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 |
|
|
|
Unsecured Loans from Shareholders Directors and Relatives |
16.460 |
15.910 |
|
Unsecured Loans
from Body Corporates |
24.300 |
23.600 |
|
Total |
40.760 |
39.510 |
INDEX
OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10269995 |
31/01/2011 |
100,000,000.00 |
BANK OF BARODA |
NAJAFGARH ROAD BRANCH,
RAJOURI GARDEN, NEW DELHI, |
B06821938 |
|
2 |
10267607 |
21/01/2011 |
100,000,000.00 |
BANK OF BARODA |
NAJAFGARH ROAD BRANCH,
RAJOURI GARDEN, NEW DELHI, |
B05562491 |
FIXED ASSETS:
·
Land
·
Building
·
Plant
and Machinery
·
Tools
Equipment
·
Generator
·
UPS
and Battery
·
Computers
·
Computer
Printer
·
Office
Equipment
·
Furniture
and Fixtures
·
Motor
Vehicles
·
Cycle
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 : |
MNJ |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
28 |
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.