MIRA INFORM REPORT
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Report No. : |
327313 |
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Report Date : |
16.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
KITEC INDUSTRIES (INDIA) LIMITED |
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Registered
Office : |
C-18/11, Jeevan Bima Nagar, Borivali (West), Mumbai – 400103,
Maharashtra |
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Tel. No.: |
91-22-28951144 / 28934413 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
31.01.1994 |
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Com. Reg. No.: |
11-076323 |
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Capital
Investment / Paid-up Capital : |
Rs. 137.390 Million |
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CIN No.: [Company Identification
No.] |
U74999MH1994PLC076323 |
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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.] |
Not Available |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer of revolutionary piping systems. |
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No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 540000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 1994 and it is engaged in the
business of manufacturing of revolutionary piping systems. It is an established company having moderate track. Reserves of the company seem to be low. There also seems dip in the
profit of the company during 2014. However, 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 |
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 DENIED
MANAGEMENT NON CO-OPERATIVE
CONTACT NO.: 91-22-28951144
LOCATIONS
|
Registered Office : |
C-18/11, Jeevan Bima Nagar, Borivali (West), Mumbai – 400103,
Maharashtra, India |
|
Tel. No.: |
91-22-28951144 / 28934413 |
|
Fax No.: |
91-22-28942549 / 28934413 |
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E-Mail : |
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Website : |
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Manufacturing Facility : |
8, Madhuban Industrial Area, Madhuban Dam Road, Rakholi, Silvassa – 396230, U.T. of Dadra and Nagar Haveli, India |
|
Tel. No.: |
91-260-2640461 |
DIRECTORS
AS ON 27.09.2014
|
Name : |
Mohanlal Futarmal Bafna |
|
Designation : |
Director |
|
Address : |
501, Pralhad Opposite Arya Samaj, 17, Linking Road : Santacruz (West), Mumbai, 400054, Maharashtra, India |
|
Date of Birth/Age : |
12.10.1943 |
|
Date of Appointment : |
08.07.1995 |
|
DIN No.: |
01727373 |
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|
|
|
Name : |
Kamal Kumar Oswal |
|
Designation : |
Director |
|
Address : |
D-35, Defence Colony, New Delhi - 110024, India |
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Date of Birth/Age : |
25.09.1949 |
|
Date of Appointment : |
31.10.1994 |
|
DIN No.: |
00160800 |
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|
|
|
Name : |
Avinash Rameshchandraji Laddha |
|
Designation : |
Managing director |
|
Address : |
11, Jeevan Dharm,, C-18, Jeevan Bima Nagar, Borivali (West), Mumbai - 400103, Maharashtra, India |
|
Date of Birth/Age : |
05.05.1947 |
|
Date of Appointment : |
31.01.1994 |
|
DIN No.: |
00119190 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 27.09.2014
SHAREHOLDERS DEAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
AS ON 27.09.2014
|
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 |
78.03 |
|
Bodies corporate |
0.05 |
|
Directors or relatives of Directors |
19.60 |
|
Other top fifty shareholders |
2.20 |
|
Other |
0.12 |
|
Total |
100.000 |
%20LIMITED%20-%20327313%2016-Jun-2015_files/image013.gif)
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of revolutionary piping systems. |
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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 Available |
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Imports : |
Not Available |
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Terms : |
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 : |
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Financial Institution : |
Axis Trustee Services Limited, Axis House, 2nd Floor, Bombay Dyeing Mills Compound, Pandurang Budhkar Marg, Worli, Mumbai - 400025, Maharashtra, India |
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|
|
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Auditors : |
|
|
Name : |
K M Swadia and Company Chartered Accountants |
|
Address : |
310, Shree Tam Chambers, R C Dutt Road, Vadodara, Gujarat, India |
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PAN No.: |
AABFK7028F |
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Memberships : |
-- |
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Collaborators : |
-- |
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Holding company: |
KITEC Investment Holdings Limited |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11,150,000 |
Equity Shares |
Rs.10/- each |
Rs.111.500 Million |
|
900,000 |
Preference Shares |
Rs.40/- each |
Rs.36.000 Million |
|
|
Total |
|
Rs.147.500 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10,243,400 |
Equity Shares |
Rs.10/- each |
Rs.102.434 Million |
|
873,900 |
Preference Shares |
Rs.40/- each |
Rs.34.956 Million |
|
|
Total |
|
Rs.137.390 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 |
137.390 |
137.390 |
137.390 |
|
(b) Reserves &
Surplus |
51.680 |
36.284 |
3.047 |
|
(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) |
189.070 |
173.674 |
140.437 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
101.000 |
0.000 |
153.470 |
|
(b) Deferred tax
liabilities (Net) |
2.122 |
5.400 |
7.089 |
|
(c) Other long term
liabilities |
7.255 |
7.239 |
23.793 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
110.377 |
12.639 |
184.352 |
|
|
|
|
|
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
9.899 |
10.967 |
12.081 |
|
(c) Other current
liabilities |
14.585 |
165.550 |
1.780 |
|
(d) Short-term provisions |
28.056 |
23.619 |
38.962 |
|
Total Current Liabilities
(4) |
52.540 |
200.136 |
52.823 |
|
|
|
|
|
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TOTAL |
351.987 |
386.449 |
377.612 |
|
|
|
|
|
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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 |
161.182 |
170.874 |
185.525 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
1.253 |
1.235 |
1.108 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.100 |
0.100 |
0.100 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
20.014 |
15.938 |
9.547 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
182.549 |
188.147 |
196.280 |
|
|
|
|
|
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(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
66.123 |
71.676 |
66.103 |
|
(c) Trade receivables |
65.400 |
68.433 |
71.566 |
|
(d) Cash and cash
equivalents |
34.425 |
52.153 |
33.377 |
|
(e) Short-term loans and
advances |
3.490 |
6.040 |
10.286 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
169.438 |
198.302 |
181.332 |
|
|
|
|
|
|
TOTAL |
351.987 |
386.449 |
377.612 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
299.406 |
324.382 |
302.213 |
|
|
Other Income |
7.055 |
19.803 |
3.512 |
|
|
TOTAL (A) |
306.461 |
344.185 |
305.725 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
97.131 |
106.125 |
95.108 |
|
|
Purchases of
Stock-in-Trade |
94.119 |
106.004 |
102.995 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
3.160 |
0.209 |
(3.601) |
|
|
Employees benefits
expense |
19.392 |
20.005 |
17.929 |
|
|
Other expenses |
46.759 |
42.276 |
47.197 |
|
|
TOTAL (B) |
260.561 |
274.619 |
259.628 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION
(C) |
45.900 |
69.566 |
46.097 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
6.183 |
2.674 |
2.098 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
39.717 |
66.892 |
43.999 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
22.439 |
24.001 |
24.300 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX (E-F) (G) |
17.278 |
42.891 |
19.699 |
|
|
|
|
|
|
|
Less |
TAX (H) |
1.882 |
7.507 |
8.312 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
(G-H) (I) |
15.396 |
35.384 |
11.387 |
|
|
|
|
|
|
|
|
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
1.328 |
1.047 |
-1.943 |
|
|
|
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APPROPRIATIONS |
|
|
|
|
|
Transferred to Capital Redemption
Reserve/General Reserve |
0.000 |
34.936 |
2.000 |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S |
16.724 |
1.495 |
1.047 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
0.013 |
0.334 |
1.277 |
|
|
TOTAL EARNINGS |
0.013 |
0.334 |
1.277 |
|
|
|
|
|
|
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|
IMPORTS |
|
|
|
|
|
Raw Materials |
30.404 |
37.132 |
47.253 |
|
|
Components and Stores
parts |
0.375 |
0.000 |
0.082 |
|
|
Capital Goods |
1.287 |
0.839 |
0.408 |
|
|
TOTAL IMPORTS |
32.066 |
37.971 |
47.743 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
1.50 |
3.24 |
0.90 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
12.000 |
163.168 |
0.000 |
|
Cash generated from operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin |
(%) |
5.14 |
10.91 |
3.77 |
|
|
|
|
|
|
|
Operating Profit Margin |
(%) |
15.33 |
21.45 |
15.25 |
|
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|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.93 |
11.14 |
5.23 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09 |
0.25 |
0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.60 |
0.94 |
1.09 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.22 |
0.99 |
3.43 |
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 |
137.390 |
137.390 |
137.390 |
|
Reserves & Surplus |
3.047 |
36.284 |
51.680 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
140.437 |
173.674 |
189.070 |
|
|
|
|
|
|
long-term borrowings |
153.470 |
0.000 |
101.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Current Maturities of Long
Term Debt |
0.000 |
163.168 |
12.000 |
|
Total borrowings |
153.470 |
163.168 |
113.000 |
|
Debt/Equity ratio |
1.093 |
0.940 |
0.598 |
%20LIMITED%20-%20327313%2016-Jun-2015_files/image015.gif)
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 |
302.213 |
324.382 |
299.406 |
|
|
|
7.336 |
-7.700 |
%20LIMITED%20-%20327313%2016-Jun-2015_files/image017.gif)
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 |
302.213 |
324.382 |
299.406 |
|
Profit |
11.387 |
35.384 |
15.396 |
|
|
3.77% |
10.91% |
5.14% |
%20LIMITED%20-%20327313%2016-Jun-2015_files/image019.gif)
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 |
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 |
PERFORMANCE REVIEW
During the year, the Company has achieved sales of Rs.299.406 Million as against sales of Rs.324.382 Million, registering a decrease of about 7.70% over the previous year due to several challenges such as in terms of adverse market conditions in housing sector and constantly increasing costs. The growth is mainly hampered due to slow economic pace and large housing stock in the market.
The sales of KiTEC Composite pipes during the year have declined by 9.39% over the last year in quantity terms and by 2.35% in terms of value.
The competition arising due to increased awareness of composite pipes in market has prompted new entrepreneurs and importers to enter the market that has led to decline in sales volumes. The Company continued its efforts to overcome these constraints with product improvement and modifications in jointing systems.
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER
(SRN) |
|
1 |
10469937 |
08/01/2014 |
170,000,000.00 |
AXIS TRUSTEE SERVICES LIMITED |
AXIS HOUSE, 2ND FLR, BOMBAY DYEING MILLS COMPOUND, |
B93418614 |
|
2 |
10463851 |
11/11/2013 |
170,000,000.00 |
AXIS BANK LTD. |
AXIS HOUSE, CORPORATE BANKING BRANCH,GROUND FLOOR, |
B90965120 |
FIXED ASSETS
- Land
- 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.64.08 |
|
|
1 |
Rs.99.57 |
|
Euro |
1 |
Rs.71.84 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
29 |
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.