MIRA INFORM REPORT
|
Report No. : |
329786 |
|
Report Date : |
30.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
S V ISPAT PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
9, Winners Court, Opposite Manikchand Malabar, Lullanagar, Pune –
411040, Maharashtra |
|
Tel. No.: |
91-20-26837442 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
06.03.2007 |
|
|
|
|
Com. Reg. No.: |
129735 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.7.910 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27106PN2007PTC129735 |
|
|
|
|
IEC No.: |
Not Available |
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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.] |
Not Available |
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|
|
Legal Form : |
Private Limited Liability Company |
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|
Line of Business
: |
Subject is engaged in the business of manufacturing and processing of
carbon-based products and its finished products include coke, carboriser, monolithic,
aluminium ingot and ferro-aluminium. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (31) |
|
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 |
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|
|
Litigation : |
Clear |
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|
Comments : |
Subject is an established company having moderate track. Rating takes into consideration subject’s small scale of operations,
relatively small networth and low profitability. In FY 14, subject registered a net profit of Rs.3.800 Million as against
the total operating income of Rs.268.500 Million as compared with a net
profit of Rs.3.400 Million as against the total operating income of Rs.
177.800 Million in FY 13. Rating derives strength from the satisfactory experience of promoters
and established relationship with customers. Trade relations are fair. Business is active. Payment terms are
reported to be slow but correct. Subject can be considered for business dealings with some caution. Note : Patial Information gathered from indirect source – CARE i.e. sales and
profit figure. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term rating : BB |
|
Rating Explanation |
Inadequate credit quality and high credit risks. |
|
Date |
15.07.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term rating : A4 |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
15.07.2014 |
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 BY
|
Name : |
Mrs. Biyani |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-20-26837442 |
|
Date : |
30.06.2015 |
LOCATIONS
|
Registered Office : |
9, Winners Court, Opposite Manikchand Malabar, Lullanagar, Pune – 411040, Maharashtra, India |
|
Tel. No.: |
91-20-26837442 / 2683 7441 |
|
Fax No.: |
91-20-26837443 |
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E-Mail : |
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|
Website : |
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|
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|
Processing Facility / Factory : |
Located At
|
DIRECTORS
AS ON 25.09.2014
|
Name : |
Vinay Biyani |
|
Designation : |
Managing director |
|
Address : |
C - 5 /401, Rose Parade, Off Salunke Vihar Road, Kondhwa Khurd, Pune - 411048, Maharashtra, India |
|
Date of Birth/Age : |
09.07.1968 |
|
Date of Appointment : |
06.03.2007 |
|
DIN No.: |
00056551 |
|
|
|
|
Name : |
Archana Vinay Biyani |
|
Designation : |
Director |
|
Address : |
C - 5 /401, Rose Parade, Off Salunke Vihar Road, Kondhwa Khurd, Pune - 411048, Maharashtra, India |
|
Date of Birth/Age : |
21.04.1970 |
|
Date of Appointment : |
06.03.2007 |
|
DIN No.: |
01243576 |
KEY EXECUTIVES
|
Name : |
Mrs. Biyani |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 25.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Vinay Biyani |
|
32540 |
|
Archana Vinay Biyani |
|
8000 |
|
Champalal Biyani |
|
15000 |
|
Kishan Gopal Biyani |
|
40 |
|
Manmal BIYANI |
|
40 |
|
Vinay Biyani HUF (Acting Through Karta Vinay Biyani) |
|
2100 |
|
Vedant Vinay Biyani (Through Guardian Vinay Biyani) |
|
5000 |
|
Siddhant Vinay Biyani (Through Guardian Vinay Biyani) |
|
5000 |
|
Mamta Bramhanand Saboo |
|
40 |
|
Ritesh Arvind Lakhani |
|
40 |
|
Girdhar Subhashchand Chandak |
|
40 |
|
Chandraprakash Jugalkishore Sarda |
|
40 |
|
Kiran Vishnudas Laddha |
|
40 |
|
Ronit Capital Management Limited, India |
|
5550 |
|
Maheshwari Knit Exports Limited, India
|
|
5550 |
|
Binodkumar Lakhotia |
|
40 |
|
Sunil Kumar Dhoot |
|
40 |
|
Total |
|
79100 |
Equity Share Break up (Percentage of Total Equity)
AS ON 25.09.2014
|
Category |
Percentage |
|
Bodies corporate |
14.03 |
|
Directors or relatives of Directors |
82.86 |
|
Other top fifty shareholders |
3.11 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of manufacturing and processing of carbon-based
products and its finished products include coke, carboriser, monolithic,
aluminium ingot and ferro-aluminium. |
|
|
|
|
Products : |
Carbon-based products and its finished products include coke, carboriser,
monolithic, aluminium ingot and ferro-aluminium. |
|
|
|
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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|
|
Terms : |
Not Divulged |
PRODUCTION STATUS AS ON 31.03.2014
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
|
Coke, Ebt, Briquettes, Carboriser, Aluminium Ingot, Dross, Notch Bar etc. |
MT |
21480 |
21480 |
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 : |
HDFC Bank Limited |
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Facilities : |
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Auditors : |
|
|
Name : |
Mahendra Shah and Company Chartered Accountants |
|
Address : |
Shankar Prasad, Flat No. 2, 1st Floor, 1691, Sadashiv Peth, Pune –
411030, Maharashtra, India |
|
Tel. No.: |
91-20-24470622 |
|
Fax No.: |
91-20-24472110 |
|
Mobile No.: |
91-9881463233 / 9552501568 |
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PAN No.: |
ADWPS8968P |
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Memberships : |
-- |
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|
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Collaborators : |
-- |
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Associates/Subsidiaries : |
-- |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200,000 |
Equity Shares |
Rs.100/- each |
Rs.20.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
79,100 |
Equity Shares |
Rs.100/- each |
Rs.7.910 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 |
7.910 |
7.910 |
6.000 |
|
(b) Reserves &
Surplus |
31.999 |
28.654 |
18.551 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
0.000 |
0.005 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
39.909 |
36.569 |
24.551 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
10.474 |
6.095 |
8.835 |
|
(b) Deferred tax
liabilities (Net) |
0.654 |
0.246 |
0.206 |
|
(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) |
11.128 |
6.341 |
9.041 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
46.263 |
37.662 |
37.534 |
|
(b) Trade payables |
17.197 |
7.608 |
4.016 |
|
(c) Other current
liabilities |
0.586 |
0.702 |
0.661 |
|
(d) Short-term provisions |
2.742 |
1.943 |
1.214 |
|
Total Current Liabilities
(4) |
66.788 |
47.915 |
43.425 |
|
|
|
|
|
|
TOTAL |
117.825 |
90.825 |
77.017 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
20.234 |
15.066 |
13.569 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
2.815 |
1.343 |
0.356 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
1.974 |
1.984 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current
assets |
0.170 |
0.189 |
0.181 |
|
Total Non-Current Assets |
25.193 |
18.582 |
14.106 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
33.784 |
22.117 |
18.901 |
|
(c) Trade receivables |
53.738 |
46.235 |
40.433 |
|
(d) Cash and cash
equivalents |
1.211 |
0.722 |
0.433 |
|
(e) Short-term loans and
advances |
0.946 |
0.745 |
0.885 |
|
(f) Other current assets |
2.953 |
2.424 |
2.259 |
|
Total Current Assets |
92.632 |
72.243 |
62.911 |
|
|
|
|
|
|
TOTAL |
117.825 |
90.825 |
77.017 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
Total Operating
Income |
268.500 |
177.800 |
NA |
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
3.800 |
3.400 |
2.049 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
5.107 |
2.887 |
NA |
|
|
TOTAL IMPORTS |
5.107 |
2.887 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.48 |
-- |
-- |
|
NOTE :
Partial information gathered from indirect sources – CARE i.e. sales and
profit figure.
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.42 |
1.20 |
1.89 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.39 |
1.51 |
1.45 |
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 |
6.000 |
7.910 |
7.910 |
|
Reserves & Surplus |
18.551 |
28.654 |
31.999 |
|
Share Application money
pending allotment |
0.000 |
0.005 |
0.000 |
|
Net worth |
24.551 |
36.569 |
39.909 |
|
|
|
|
|
|
long-term borrowings |
8.835 |
6.095 |
10.474 |
|
Short term borrowings |
37.534 |
37.662 |
46.263 |
|
Total borrowings |
46.369 |
43.757 |
56.737 |
|
Debt/Equity ratio |
1.889 |
1.197 |
1.422 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
|
Total Operating Income |
177.800 |
268.500 |
|
|
#REF! |
51.012 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
|
Total Operating Income |
177.800 |
268.500 |
|
Profit |
3.400 |
3.800 |
|
|
1.91% |
1.42% |
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 two 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 |
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Loans and Advances from related parties |
4.212 |
3.090 |
|
Other loans and Advances |
4.800 |
2.500 |
|
Short-term
borrowings |
|
|
|
Loans and Advances from related parties |
1.600 |
1.000 |
|
Other loans and Advances |
1.600 |
1.500 |
|
Total |
12.212 |
8.090 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10429157 |
31/05/2013 |
1,680,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W |
B76332071 |
|
2 |
10232120 |
29/07/2010 |
1,125,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W |
A91163329 |
|
3 |
10066334 |
12/10/2013 * |
55,000,000.00 |
STATE BANK OF INDIA |
DECCAN GYMKHANA BRANCH SHIROLE BHAVAN, PMT BUILDI |
B88694849 |
* Date of charge modification
NOTE :
The registered office of the company has been
shifted from C - 5 / 401, Rose Parade, Off Salunke Vihar Road, Kondhwa, Pune
-411048, Maharashtra, India to the present address w.e.f. 03.12.2007.
FIXED ASSETS
- Land
- Factory building
- Plant and machinery
- Furniture and Fixtures
- Vehicle
- Computers
- Building
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.63.92 |
|
|
1 |
Rs.100.41 |
|
Euro |
1 |
Rs.70.41 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
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Analysis Done by
: |
SAN |
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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 |
4 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
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--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 |
|
31 |
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.