MIRA INFORM REPORT
|
Report No. : |
313791 |
|
Report Date : |
21.03.2015 |
IDENTIFICATION DETAILS
|
Name : |
RSAL STEEL PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
611, Tulsiani Chambers, Nariman Point, Mumbai – 400021, Maharashtra |
|
|
|
|
Country : |
India |
|
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|
|
Financials (as
on) : |
31.03.2014 |
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|
|
Date of
Incorporation : |
29.12.2010 |
|
|
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Com. Reg. No.: |
11-211581 |
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|
|
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Capital Investment
/ Paid-up Capital : |
Rs. 574.987 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28990MH2010PTC211581 |
|
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|
|
IEC No.: |
Not Available |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMR27684G |
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|
|
|
PAN No.: [Permanent Account No.] |
AAFCR1288M |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Trader of HR Coils, CRCA and Other Steel Products. |
|
|
|
|
No. of Employees
: |
50 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (34) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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|
|
Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a wholly owned subsidiary of Ruchi Strips and Alloys
Limited. It is an established company having moderate track. The rating is constrained on account of deterioration in profitability
and sales turnover of the company during FY 2014. Further, reserves of the
company is low. The rating also takes note of the unfavorable gap between trade
receivables and payables of the company. However, Trade relations are reported to be 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long Term Rating “BB-“ |
|
Rating Explanation |
Inadequate credit quality and high credit risk |
|
Date |
January 2015 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short Term Rating “A4” |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
January 2015 |
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. N.K. Jain |
|
Designation : |
Account Manager |
|
Contact No.: |
91-731-4017564 |
|
Date : |
20.03.2015 |
LOCATIONS
|
Registered Office : |
611, Tulsiani
Chambers, Nariman Point, Mumbai – 400021, Maharashtra, India |
|
Tel. No.: |
91-22-22851303 |
|
Fax No.: |
91-22-22823177 |
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E-Mail : |
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|
Website : |
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|
Location : |
Owned |
|
|
|
|
Head office / Factory 1 : |
501, Mahakosh House, 7/5, South Tukoganj, Nath Mandir
Road, Indore – 452001, Madhya Pradesh, India |
|
Tel. No.: |
91-731-2518124-26 |
|
Fax No.: |
91-731-2518127 |
|
|
|
|
Factory 2 : |
Located At: Dhar, Indore |
|
Tel. No.: |
91-7292-277230 |
|
Fax No.: |
91-7292-277264 |
DIRECTORS
AS ON 10.09.2014
|
Name : |
Mr. Arvind Mishra |
|
Designation : |
Whole-time director |
|
Address : |
44, Pink City Scheme No. 94 Extension, Ring Road, Indore – 452018,
Madhya Pradesh, India |
|
Date of Birth/Age : |
01.07.1960 |
|
Date of Appointment : |
31.03.2014 |
|
PAN No.: |
ACVPM3557B |
|
DIN No.: |
02129733 |
|
|
|
|
Name : |
Mr. Umesh Shahra |
|
Designation : |
Director |
|
Address : |
28, Old Palasia, A.B. Road, Indore – 452018, Madhya Pradesh, India |
|
Date of Birth/Age : |
17.06.1963 |
|
Date of Appointment : |
29.12.2010 |
|
DIN No.: |
00061312 |
|
|
|
|
Name : |
Mr. Vijay Kumar Mahajan |
|
Designation : |
Director |
|
Address : |
Flat No. 212, Block B/2, Lokbharti Complex, Marol Maroshi Road, Mumbai
– 400059, Maharashtra, India |
|
Date of Birth/Age : |
01.02.1952 |
|
Date of Appointment : |
10.09.2014 |
|
DIN No.: |
01367496 |
|
|
|
|
Name : |
Mrs. Ishita Khandelwal |
|
Designation : |
Director |
|
Address : |
127 Jagra Compound, Indore – 452001, Madhya Pradesh, India |
|
Date of Birth/Age : |
22.07.1990 |
|
Date of Appointment : |
10.09.2014 |
|
DIN No. : |
06932629 |
KEY EXECUTIVES
|
Name : |
Mr. Akhilesh Gupta |
|
Designation : |
Secretary |
|
Address : |
248 Palhar Nagar, Indore – 452005, Madhya Pradesh, India |
|
Date of Birth/Age : |
10.02.1982 |
|
Date of Appointment : |
09.08.2014 |
|
PAN No.: |
AVBPG4120H |
|
|
|
|
Name : |
Mr. N.K. Jain |
|
Designation : |
Account Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 10.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Ruchi Strips and Alloys Limited, India |
|
10009999 |
|
Mr. Umesh Shahra |
|
01 |
|
Total |
|
10010000 |
As on 10.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Trader of HR Coils, CRCA and Other Steel Products. |
|
|
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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 : |
|
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Products : |
CR Coils |
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Countries : |
Middle East |
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Imports : |
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Products : |
HR Coils |
|
Countries : |
China |
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Terms : |
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Selling : |
Cash and Credit (30, 60 and 90 Days) |
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Purchasing : |
Cash and Credit (30, 60 and 90 Days) |
PRODUCTION STATUS: Not Available
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
50 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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|
Name : |
Arun Maheshwari and Company Chartered Accountants |
|
Address : |
8/9, Mahesh Nagar, Indore, Madhya Pradesh, India |
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PAN
No. : |
ACRPM6560G |
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|
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Memberships : |
Not Available |
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|
|
|
Collaborators : |
Not Available |
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Holding Company : |
Ruchi Strips and Alloys Limited [L27100MH1987PLC142326] |
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|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their
relatives |
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Other Related
Parties |
|
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11000000 |
Equity Shares |
Rs.10/- each |
Rs.110.000 Million |
|
59000000 |
|
Rs.10/- each |
Rs. 590.000 Million |
|
|
Total |
|
Rs. 700.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10010000 |
Equity Shares |
Rs.10/- each |
Rs. 100.100 Million |
|
49488700 |
Preference Shares |
Rs.10/- each |
Rs. 494.887 Million |
|
|
Total |
|
Rs.594.987
Million |
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Million |
|
59000000 |
|
Rs.10/- each |
Rs. 590.000 Million |
|
|
Total |
|
Rs. 600.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.10/- each |
Rs. 0.100 Million |
|
57488700 |
Preference Shares |
Rs.10/- each |
Rs. 574.887 Million |
|
|
Total |
|
Rs. 574.987
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 |
574.987 |
507.987 |
507.987 |
|
(b) Reserves &
Surplus |
92.091 |
68.844 |
31.596 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
0.000 |
67.000 |
65.950 |
|
Total Shareholders’ Funds
(1) + (2) |
667.078 |
643.831 |
605.533 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
343.145 |
322.215 |
205.971 |
|
(b) Deferred tax
liabilities (Net) |
10.133 |
10.912 |
8.289 |
|
(c) Other long term
liabilities |
0.424 |
0.424 |
0.260 |
|
(d) long-term provisions |
5.982 |
6.630 |
6.675 |
|
Total Non-current
Liabilities (3) |
359.684 |
340.181 |
221.195 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
337.835 |
360.231 |
369.255 |
|
(b) Trade payables |
1240.696 |
1318.394 |
1931.835 |
|
(c) Other current liabilities |
362.419 |
496.939 |
407.995 |
|
(d) Short-term provisions |
48.018 |
50.237 |
36.853 |
|
Total Current Liabilities
(4) |
1988.968 |
2225.801 |
2745.938 |
|
|
|
|
|
|
TOTAL |
3015.730 |
3209.813 |
3572.666 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
449.724 |
464.085 |
467.427 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
53.166 |
44.501 |
34.261 |
|
(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 |
48.713 |
112.704 |
140.864 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
551.603 |
621.290 |
642.552 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
788.453 |
908.564 |
1878.240 |
|
(c) Trade receivables |
1049.486 |
1361.637 |
702.317 |
|
(d) Cash and cash
equivalents |
231.702 |
201.326 |
195.466 |
|
(e) Short-term loans and
advances |
381.941 |
109.936 |
141.956 |
|
(f) Other current assets |
12.545 |
7.060 |
12.135 |
|
Total Current Assets |
2464.127 |
2588.523 |
2930.114 |
|
|
|
|
|
|
TOTAL |
3015.730 |
3209.813 |
3572.666 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
|
TOTAL INCOME |
7415.388 |
10038.395 |
6235.909 |
|
|
|
|
|
|
|
Less |
TOTAL EXPENSES |
7023.603 |
9668.241 |
6019.865 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
391.785 |
370.154 |
216.044 |
|
|
|
|
|
|
|
Less |
DEPRECIATION AND
FINANCIAL EXPENSES |
360.801 |
308.478 |
166.517 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
30.984 |
61.676 |
49.527 |
|
|
|
|
|
|
|
Less |
TAX |
7.737 |
24.429 |
17.931 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
23.247 |
37.247 |
31.596 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
775.374 |
NA |
NA |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
0.39 |
0.63 |
0.53 |
Expected Sales (2014-2015) : Rs. 10000.000 Million
The above information has been parted by Mr. N. K. Jain
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.05 |
1.95 |
1.40 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05 |
0.10 |
0.08 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.02 |
1.06 |
0.95 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.24 |
1.16 |
1.07 |
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 |
507.987 |
507.987 |
574.987 |
|
Reserves & Surplus |
31.596 |
68.844 |
92.091 |
|
Share Application money
pending allotment |
65.950 |
67.000 |
0.000 |
|
Net worth |
605.533 |
643.831 |
667.078 |
|
|
|
|
|
|
long-term borrowings |
205.971 |
322.215 |
343.145 |
|
Short term borrowings |
369.255 |
360.231 |
337.835 |
|
Total borrowings |
575.226 |
682.446 |
680.980 |
|
Debt/Equity ratio |
0.950 |
1.060 |
1.021 |
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) |
|
Total Income |
6235.909 |
10038.395 |
7415.388 |
|
|
|
60.977 |
(26.130) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Total Income |
6235.909 |
10038.395 |
7415.388 |
|
Profit |
31.596 |
37.247 |
23.247 |
|
|
0.51% |
0.37% |
0.31% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF LONG TERM DEBTS
|
Particulars |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
31.03.2012 (Rs.
In Million) |
|
Current maturities of long-term debt |
100.500 |
100.500 |
64.700 |
|
Total |
100.500
|
100.500 |
64.700 |
|
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% |
----------------------- |
|
14] |
Estimation
for coming financial year |
Yes |
|
15] |
Capital
in the business |
Yes |
|
16] |
Details
of sister concerns |
No |
|
17] |
Major
suppliers |
No |
|
18] |
Major
customers |
Yes |
|
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 |
Yes |
|
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 |
10528038 |
10/07/2014 |
178,000,000.00 |
Allahabad Bank |
Embassy Tower, New
Palasia, Indore, Madhya Pradesh - 452001, INDIA |
C31429962 |
|
2 |
10518797 |
10/07/2014 |
242,900,000.00 |
State Bank of India |
COMMERCIAL BRANCH, A.B.
ROAD, INDORE, Madhya Pradesh - 452001, INDIA |
C19754019 |
|
3 |
10518800 |
10/07/2014 |
1,614,400,000.00 |
State Bank of India |
COMMERCIAL BRANCH, A.B.
ROAD, INDORE, Madhya Pradesh - 452001, INDIA |
C19757574 |
|
4 |
10353556 |
10/07/2014 * |
2,414,800,000.00 |
DENA BANK |
Navlakha Branch, Navlakha
Chouraha, A B Road, INDORE, Madhya Pradesh - 452001, INDIA |
C20799797 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
LONG TERM
BORROWINGS |
|
|
|
Intercorporate deposits [Member] |
130.000 |
0.000 |
|
|
|
|
|
SHORT TERM
BORROWINGS |
|
|
|
Intercorporate borrowings |
4.500 |
3.500 |
|
Total |
134.500 |
3.500 |
FIXED ASSETS
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
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. 62.49 |
|
|
1 |
Rs. 92.26 |
|
Euro |
1 |
Rs. 66.80 |
INFORMATION DETAILS
|
Information Gathered
by : |
PPT |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
TRU |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
34 |
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.