MIRA INFORM REPORT
|
Report No. : |
333965 |
|
Report Date : |
27.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
THE ANUP ENGINEERING LIMITED |
|
|
|
|
Registered
Office : |
Behind 66 KV, Electric Sub-Station, Odhav Road, Ahmedabad-382415,
Gujarat |
|
Tel. No.: |
91-79-22870622 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
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|
|
Date of
Incorporation : |
14.11.1962 |
|
|
|
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Com. Reg. No.: |
04-001170 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 34.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L99999GJ1962PLC001170 |
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IEC No.: |
0888007213 |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
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PAN No.: [Permanent Account No.] |
AAACT5733A |
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|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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|
Line of Business
: |
Subject is engaged in manufacturing and fabrication of process equipment’s
required of chemicals, petrochemicals, pharmaceuticals, fertilizers drugs and
allied industries. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
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|
|
|
Litigation : |
Clear |
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|
Comments : |
The Anup Engineering Limited, Incorporated in 1962 by the “Lalbhai
group” and is a subsidiary of “Arvind Limited”. It is well established
company having satisfactory track record. The rating reflects on company’s improvement in its financial risk
profile marked by continue growth in the scale of operations with an
improvement in its operating profitability. The rating continue to derive comfort from the wide experience of its promoters,
long-standing track record of company as an integrated textile manufacturer
having a presence across the entire textile value chain and its diversified
brand portfolio. Moreover, company received the credit enhancement in the form of
unconditional and irrevocable corporate guarantee from Arvind Limited. Trade relations are trustworthy. Business is active. Payments terms
are reported to be usually correct. The company can be considered good for business dealings at usual
trade terms and condition. |
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|
|
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 A+ |
|
Rating Explanation |
Adequate degree of safety and low credit risk. |
|
Date |
August, 2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities A1+ |
|
Rating Explanation |
Very strong degree of safety and carry lowest credit risk. |
|
Date |
August, 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 DENIED
Management non-cooperative (91-79-22870622)
LOCATIONS
|
Registered Office / Factory : |
Behind 66 KV, Electric Sub-Station, Odhav Road, Ahmedabad-382415,
Gujarat |
|
Tel. No.: |
91-79-22870622 |
|
Fax No.: |
91-79-22870642 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 31.03.2014
|
Name : |
Mr. Samveg A. Lalabhai |
|
Designation : |
Chairman |
|
|
|
|
Name : |
Mr. Arun P. Sheth (Up to 26th Feb, 2014) |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Pankaj Sudhaker Sheth |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Chanrakant T. Arikh |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Shreyas Chunubhai Sheth |
|
Designation : |
Director |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2014
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Promoter Holding |
|
|
|
Promoters |
308791 |
90.82 |
|
Sub-Total
|
308791 |
90.82 |
|
|
|
|
|
Non Promoters
Holding |
|
|
|
Mutual Funds and Administrator of the Specified Undertaking of Unit
Trust of |
-- |
-- |
|
Banks, Financial Institution, Insurance Companies etc. |
13848 |
4.07 |
|
Foreign Institutional Investors (FIIS) |
-- |
-- |
|
Sub-Total |
13848 |
4.07 |
|
|
|
|
|
Others |
|
|
|
Private Corporate Bodies |
5181 |
1.52 |
|
NRIs / OCBs |
-- |
-- |
|
State Government |
-- |
-- |
|
Indian Public |
12180 |
3.58 |
|
Sub-Total |
17361 |
5.11 |
|
|
|
|
|
GRAND
TOTAL |
340000 |
100
|
Note : The shares of the subject company is not traded on BSE and NSE
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in manufacturing and fabrication of process
equipment’s required of chemicals, petrochemicals, pharmaceuticals,
fertilizers drugs and allied 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 : |
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 : |
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Facilities : |
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Auditors : |
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|
Name : |
M/S Sorab S Engineer and Company Chartered Accountants |
|
Address : |
909, ATMA House opposite Reserve Bank of India, Ashram Road, Ahmedabad – 380009, Gujarat, India |
|
Tel. No.: |
91-79-26584304 |
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Fax No.: |
91-79-26589710 |
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E-Mail : |
|
|
Website : |
|
|
|
|
|
Memberships : |
-- |
|
|
|
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Collaborators : |
-- |
|
|
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Holding Company : |
·
Arvind Limited |
|
|
|
|
Fellow Subsidiary : |
· Arvind Investment Limited ·
Arvind Accel Limited |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500,000 |
Equity Shares |
Rs.10/- each |
Rs. 50.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
340,000 |
Equity Shares |
Rs.10/- each |
Rs. 34.000
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
34.000 |
34.000 |
34.000 |
|
(b) Reserves & Surplus |
456.654 |
344.100 |
294.710 |
|
(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) |
490.654 |
378.100 |
328.710 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
2.051 |
|
(b) Deferred tax liabilities (Net) |
29.938 |
28.881 |
28.671 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
2.806 |
3.113 |
2.948 |
|
Total Non-current
Liabilities (3) |
32.744 |
31.994 |
33.670 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
242.873 |
101.983 |
224.611 |
|
(b) Trade
payables |
167.484 |
77.130 |
88.758 |
|
(c) Other
current liabilities |
179.928 |
69.720 |
67.542 |
|
(d) Short-term
provisions |
38.342 |
4.948 |
0.000 |
|
Total Current
Liabilities (4) |
628.627 |
253.781 |
380.911 |
|
|
|
|
|
|
TOTAL |
1152.025 |
663.875 |
743.291 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
210.114 |
222.923 |
238.026 |
|
(ii)
Intangible Assets |
3.717 |
4.272 |
0.547 |
|
(iii)
Capital work-in-progress |
0.000 |
0.432 |
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 |
2.381 |
8.580 |
13.811 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
216.212 |
236.207 |
252.384 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
384.350 |
141.520 |
170.289 |
|
(c) Trade
receivables |
457.938 |
250.750 |
289.658 |
|
(d) Cash
and cash equivalents |
42.723 |
24.270 |
19.251 |
|
(e)
Short-term loans and advances |
44.551 |
11.128 |
11.709 |
|
(f) Other
current assets |
6.251 |
0.000 |
0.000 |
|
Total
Current Assets |
935.813 |
427.668 |
490.907 |
|
|
|
|
|
|
TOTAL |
1152.025 |
663.875 |
743.291 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1045.952 |
734.470 |
740.016 |
|
|
|
Other Income |
11.624 |
7.024 |
4.587 |
|
|
|
TOTAL (A) |
1057.576 |
741.494 |
744.603 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
655.304 |
403.036 |
340.663 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(65.396) |
0.196 |
116.992 |
|
|
|
Employees benefits expense |
71.125 |
64.484 |
60.812 |
|
|
|
Other expenses |
192.589 |
165.680 |
175.446 |
|
|
|
TOTAL (B) |
853.622 |
633.396 |
693.913 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
203.954 |
108.098 |
50.690 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
9.264 |
17.918 |
27.679 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
194.690 |
90.180 |
23.011 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
21.221 |
20.179 |
20.459 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX
(E-F) (G) |
173.469 |
70.001 |
2.552 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
60.157 |
20.610 |
1.392 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
113.312 |
49.391 |
1.160 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
337.098 |
287.707 |
286.547 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
450.410 |
337.098 |
287.707 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
F.O.B. Value of Exports |
346.343 |
76.146 |
0.270 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
125.680 |
23.950 |
21.198 |
|
|
TOTAL IMPORTS |
125.680 |
23.950 |
21.198 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
331.04 |
145.27 |
3.41 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
0.000 |
0.222 |
23.070 |
|
Cash generated from operations |
(112.356) |
180.983 |
63.675 |
|
Net cash flows from (used in) operation |
(132.566) |
171.601 |
61.914 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
10.83 |
6.72 |
0.16 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
19.50 |
14.72 |
6.85 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
15.06 |
10.55 |
0.34 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.35 |
0.19 |
0.01 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.49 |
0.27 |
0.76 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.49 |
1.69 |
1.29 |
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 |
34.000 |
34.000 |
34.000 |
|
Reserves & Surplus |
294.710 |
344.100 |
456.654 |
|
Net
worth |
328.710 |
378.100 |
490.654 |
|
|
|
|
|
|
long-term borrowings |
2.051 |
0.000 |
0.000 |
|
Short term borrowings |
224.611 |
101.983 |
242.873 |
|
Current maturities of
long-term debts |
23.070 |
0.222 |
0.000 |
|
Total
borrowings |
249.732 |
102.205 |
242.873 |
|
Debt/Equity
ratio |
0.760 |
0.270 |
0.495 |
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 |
740.016 |
734.470 |
1045.952 |
|
|
|
(0.749) |
42.409 |
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 |
740.016 |
734.470 |
1045.952 |
|
Profit |
1.160 |
49.391 |
113.312 |
|
|
0.16% |
6.72% |
10.83% |
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 |
No |
|
10] |
Date of Birth of Proprietor / Partners /
Directors |
No |
|
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 |
No |
|
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) |
|
Short-term
borrowings |
|
|
|
Interest free intercorporate Deposits from fellow subsidiary company |
8.502 |
8.503 |
|
|
|
|
|
Total |
8.502 |
8.503 |
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
80024467 |
30/01/2014 * |
805,000,000.00 |
BANK OF BARODA |
CFS BRANCH, FIRST FLOOR, BOB TOWERS,, OPP. NCC GR OUND, LAW
GARDEN, ELLISBRIDGE,, AHMEDABAD, Gujarat |
B96556246 |
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
|
|
(Rs. in million) |
|
|
Guarantees given by banks on behalf of
company |
459.677 |
300.273 |
|
Disputed Demands in respect of |
|
|
|
Excise Duty |
0.000 |
0.637 |
|
Income Tax |
0.000 |
0.058 |
OPERATIONS:
During the year under report turnover of the company jumped
to Rs.1057.600 Million as against Rs.741.500 Million in the previous year. Profit
before interest, depreciation and tax doubled to Rs.204.00 Million as against
Rs.108.100 Million in the previous year. Profit for the year after providing
for interest, depreciation and Tax increased more than times from Rs.49.400
Million during the previous year Rs.112.600 Million during the under report.
This was made possible with the conscious efforts of the management on all
fronts-entering in to export market, improved product mix, aggressive purchase
management and effective in to export market, improved product mix, aggressive
purchase management and effective control over working capital including
advances from customers, inventory, creditors and debtors. All these efforts
made significant construction towards improving profitability of the company.
OUTLOOK
The directors are happy to report that despite slowdown in the market the company is better placed in the market with heathy order book and some very good inquires in the pipe line. Entry in to the international market has put the company ahead of the other players in the market both local and international. Given the current position the directors are confident of putting up an impressive show during the current year also.
FIXED ASSETS
- Freehold land
- Buildings
- Plant and equipment
- Furniture and fixture
- Office equipment
- Vehicle
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 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.63.89 |
|
|
1 |
Rs.99.10 |
|
Euro |
1 |
Rs.70.12 |
INFORMATION DETAILS
|
Information Gathered
by : |
SUP |
|
|
|
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
JYTK |
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 |
6 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
50 |
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.