MIRA INFORM REPORT
|
Report No. : |
310593 |
|
Report Date : |
03.03.2015 |
IDENTIFICATION DETAILS
|
Name : |
RIA COMPUTERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
M/10-12, Shiv Smruti Complex, 1st Floor, Near
Turning Point, Ghod-Dod Road, Surat – 395007, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
10.03.2004 |
|
|
|
|
Com. Reg. No.: |
04-043759 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 0.906
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72200GJ2004PTC043759 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
SRTR02166D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCR7643B |
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|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader and distributor of Computer Peripherals. |
|
|
|
|
No. of Employees
: |
65 (Approximately) |
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 |
|
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. Management has failed to file latest financials of FY14, with the
statutory authorities. There appear huge external borrowings taken by the company during
financial year 2013. Profit margin of the company seems to be low. However, trade relations are fair. Business is active. Payment terms
are slow but correct. The company can be considered for business dealings with some
cautions. |
NOTES:
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Amit Mangal |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-261-2236791 |
|
Date : |
28.02.2015 |
LOCATIONS
|
Registered Office : |
M/10-12, Shiv Smruti Complex, 1st Floor, Near
Turning Point, Ghod-Dod Road, Surat – 395007, Gujarat, India |
|
Tel. No.: |
91-261-2236791/ 2335972/ 2235882 |
|
Mobile No.: |
91-9377289153 [Mr. Amit Mangal] |
|
Fax No.: |
91-261-2335972/ 2242014 |
|
E-Mail : |
|
|
Website : |
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|
Location : |
Owned |
|
|
|
|
Branch Office 1
: |
2nd Floor, Above Jain Media, Near Bandari Ward, Station
Road, Bardoli, Gujarat, India |
|
|
|
|
Branch Office 2
: |
2nd P M Chambers, Near
Sayaji Library, Navsari, |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Kamal Agrawal |
|
Designation : |
Director |
|
Address : |
602, Sangit Sarita Apartment, Amidhara Wadi Road, Adajan,
Surat – 395009, Gujarat, India |
|
Date of Birth/Age : |
18.01.1970 |
|
Date of Appointment : |
10.03.2004 |
|
DIN No.: |
01024227 |
|
|
|
|
Name : |
Mrs. Sima Agrawal |
|
Designation : |
Director |
|
Address : |
602, Sangit Sarita Apartment, Amidhara Wadi Road, Adajan, Surat
– 395009, Gujarat, India |
|
Date of Birth/Age : |
09.11.1975 |
|
Date of Appointment : |
10.03.2004 |
|
DIN No.: |
01024253 |
KEY EXECUTIVES
|
Name : |
Mr. Amit Mangal |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Kamal R Agrawal |
|
5000 |
|
Sima K Agrawal |
|
5000 |
|
Kamal R Agrawal (HUF) |
|
40 |
|
Ramchandra Prasad S Agarwal |
|
40 |
|
Gayatri Devi R Agarwal |
|
40 |
|
Ramchandra Prasad S Agarwal (HUF) |
|
40 |
|
Sushil Prasad R. Agarwal |
|
40 |
|
Sunita Devi S. Agarwal |
|
40 |
|
Sushil Prasad R. Agarwal (HUF) |
|
40 |
|
Rajkumar R. Agarwal |
|
40 |
|
Poonam R. Agarwal |
|
40 |
|
Rajkumar R. Agarwal (HUF) |
|
40 |
|
Sunit S Singhania |
|
40040 |
|
Rajnish R Jajodia |
|
40040 |
|
Neelam P Poddar |
|
40 |
|
Alpana S Poddar |
|
40 |
|
Ravikant J Goyal |
|
40 |
|
|
|
|
|
Total |
|
90600 |
AS ON 29.09.2012
|
Equity Share Breakup |
% of Holding |
|
Category |
|
|
Directors
or relatives of directors |
55.54 |
|
Other
top fifty shareholders |
44.46 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader and distributor of Computer Peripherals. |
|
|
|
|
Products : |
Computer Peripherals |
|
|
|
|
Brand Names : |
Not Divulged |
|
|
|
|
Agencies Held : |
Not Divulged |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
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|
|
|
Terms : |
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|
Selling : |
Cash and Credit |
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|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
65 (Approximately) |
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Bankers : |
·
Standard Chartered Bank |
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Facilities : |
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
Agarwal and Singhania Chartered Accountants |
|
Address : |
B-1234, Kohinoor Market, Ring Road, Surat – 395002, Gujarat, India |
|
Tel. No.: |
91-261-2336379 |
|
Mobile No.: |
91-9374713280 |
|
Email: |
|
|
PAN
No. : |
AAJFA7558C |
|
|
|
|
Membership
: |
-- |
|
|
|
|
Sister Concern : |
·
Digital World Address: Surat and
Baldoi, Gujarat, India Line of
Business: Trader of Computer Peripherals. |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200,000 |
Equity Shares |
Rs. 10/- each |
Rs. 2.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
90,600 |
Equity Shares |
Rs. 10/- each |
Rs. 0.906
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
0.906 |
0.906 |
0.906 |
|
(b) Reserves & Surplus |
5.503 |
4.761 |
4.122 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.011 |
0.011 |
0.011 |
|
Total
Shareholders’ Funds (1) + (2) |
6.420 |
5.678 |
5.039 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
7.919 |
7.166 |
7.851 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
7.919 |
7.166 |
7.851 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
18.853 |
15.799 |
5.829 |
|
(b) Trade payables |
37.627 |
43.239 |
25.606 |
|
(c) Other current
liabilities |
0.619 |
0.667 |
0.562 |
|
(d) Short-term provisions |
0.352 |
0.302 |
0.260 |
|
Total Current Liabilities
(4) |
57.451 |
60.007 |
32.257 |
|
|
|
|
|
|
TOTAL |
71.790 |
72.851 |
45.147 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1.903 |
1.685 |
1.474 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(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) |
0.035 |
0.017 |
0.026 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
1.938 |
1.702 |
1.500 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
24.180 |
28.667 |
13.229 |
|
(c) Trade receivables |
43.023 |
40.028 |
27.667 |
|
(d) Cash and cash
equivalents |
1.037 |
0.542 |
1.177 |
|
(e) Short-term loans
and advances |
0.349 |
0.441 |
0.669 |
|
(f) Other current
assets |
1.263 |
1.471 |
0.905 |
|
Total Current Assets |
69.852 |
71.149 |
43.647 |
|
|
|
|
|
|
TOTAL |
71.790 |
72.851 |
45.147 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
462.785 |
422.144 |
330.547 |
|
|
|
Other Income |
0.114 |
0.333 |
0.730 |
|
|
|
TOTAL (A) |
462.899 |
422.477 |
331.277 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase (Net) |
|
|
317.673 |
|
|
|
Trading Expenses |
|
|
0.266 |
|
|
|
Administrative & Selling Expenses |
|
|
9.511 |
|
|
|
Preliminary Expenses written off |
|
|
0.000 |
|
|
|
Increase/ Decrease in Stock |
|
|
0.997 |
|
|
|
TOTAL (B) |
NA
|
NA
|
328.447 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
2.830 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
1.607 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
1.223 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
0.392 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
NA |
NA |
0.831 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
NA |
NA |
0.261 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
0.742 |
0.639 |
0.570 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
NA |
2.913 |
2.344 |
|
|
|
|
|
|
|
|
|
Add |
DEFERRED TAX
ASSETS / LIABILITIES |
NA |
NA |
(0.001) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
NA |
2.913 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
8.19 |
7.05 |
6.29 |
|
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
500.000 |
Expected Sales (2014-2015): Rs.450.000 Million (Due to Market
Fluctuation)
The above information has been parted by Mr. Amit Mangal
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin PAT / Sales |
(%) |
0.16 |
0.15 |
0.17 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
NA |
NA |
0.86 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets) |
(%) |
NA |
NA |
1.84 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA |
NA |
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
4.17 |
4.04 |
2.71 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.22 |
1.19 |
1.35 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Share Capital |
0.906 |
0.906 |
0.906 |
|
Reserves & Surplus |
4.122 |
4.761 |
5.503 |
|
Share Application money pending allotment |
0.011 |
0.011 |
0.011 |
|
Net
worth |
5.039 |
5.678 |
6.420 |
|
|
|
|
|
|
long-term borrowings |
7.851 |
7.166 |
7.919 |
|
Short term borrowings |
5.829 |
15.799 |
18.853 |
|
Total
borrowings |
13.680 |
22.965 |
26.772 |
|
Debt/Equity
ratio |
2.715 |
4.045 |
4.170 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Sales |
330.547 |
422.144 |
462.785 |
|
|
|
27.711 |
9.627 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Sales
|
330.547 |
422.144 |
462.785 |
|
Profit |
0.570 |
0.639 |
0.742 |
|
|
0.17% |
0.15% |
0.16% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT: NOT AVAILABLE
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
Yes |
|
14] |
Estimation for coming
financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if
applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
No |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director,
if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
90107161 |
29/09/2011 * |
15,000,000.00 |
BANK OF INDIA |
GHOD DOD ROAD BRANCH, NEAR BSNL, SURAT - 395007, GUJARAT, INDIA |
B23687858 |
* Date of charge modification
UNSECURED LOANS
|
UNSECURED LOANS |
31.03.2013 (Rs.
In Million) |
31.03.2012 (Rs.
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
From Directors and their Relatives |
7.919 |
7.166 |
|
|
|
|
|
Total |
7.919 |
7.166 |
FIXED ASSETS:
· Air Conditioners
· Computers
· Delivery Van
· Furniture and Fixture
· Vehicles
· Office Equipments
· Telephones and Mobile 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.61.82 |
|
|
1 |
Rs.95.27 |
|
Euro |
1 |
Rs.69.14 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
|
--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.