MIRA INFORM REPORT
|
Report No. : |
321489 |
|
Report Date : |
09.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
WELSPUN TRADINGS LIMITED (w.e.f. 13.03.2010) |
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Formerly Known
As : |
WELSPUN TRADINGS PRIVATE LIMITED (w.e.f. 26.02.2010) SEAGULL GLOBAL TRADING PRIVATE LIMITED (w.e.f. 23.06.2006) NENOSYS TECHNO-HELP PRIVATE LIMITED |
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Registered
Office : |
Welspun City, Village Versamedi, Taluka Anjar, Kutch – 370110, Gujarat
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Tel No.: |
91-2836-279071/ 74/ 41/ 44 |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
09.05.2001 |
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Com. Reg. No.: |
04-039513 |
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Capital
Investment / Paid-up Capital : |
Rs.50.134
Million |
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CIN No.: [Company Identification
No.] |
U72200GJ2001PLC039513 |
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TIN No.: |
Not Available |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
RKTW00193E |
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PAN No.: [Permanent Account No.] |
AAKCS0328J |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Trader of Steel Products. |
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No. of Employees
: |
Information denied by management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (33) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 is a subsidiary of “WELSPUN CORP LIMITED”. It is an
established company having moderate track record. The company has reported below average operational performance and
resulted into declining in 22.15% topline growth during 2014 and profitability
stood at 0.33%. Company can also take huge external borrowing which further create
risk to the liquidity profile of the company. However, company receives string financial and managerial support from
its holding company. Trade relations are reported as fair. Payments are reported to be slow
but correct. In view of moderate operational performance backed by huge external
borrowings, the company can be considered for 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
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
31-03-2014.
INFORMATION DENIED BY
|
Name : |
Mr. Pradeep Joshi |
|
Designation : |
Company Secretary and Finance Controller |
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Contact No.: |
91-22-66136000 |
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Date : |
07.05.2015 |
LOCATIONS
|
Registered Office : |
Welspun City, Village Versamedi, Taluka Anjar, Kutch – 370110,
Gujarat, India |
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Tel. No.: |
91-2836-279071/ 74/ 41/ 44 |
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Fax No.: |
91-2836-279060 |
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E-Mail : |
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Website : |
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Head Office: |
5th Floor, Kamala City, Senapati Bapat Marg, Lower Parel (West),
Mumbai – 400013, Maharashtra, India |
DIRECTORS
As on 25.09.2014
|
Name : |
Mr. Ram Gopal Sharma |
|
Designation : |
Nominee Director |
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Address : |
E-707, Lok Sarita Military Road, Off. Marol Maroshi Raod, Andheri (East),
Mumbai – 400059, Maharashtra, India |
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Date of Birth/Age : |
11.09.1940 |
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Date of Appointment : |
29.05.2013 |
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PAN No.: |
AOQPS3114R |
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DIN No.: |
00026514 |
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Name : |
Mr. Raj Kumar Jain |
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Designation : |
Nominee Director |
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Address : |
A/1601, Abrol Vastu, Evershine Nagar, Malad (West), Mumbai – 400071,
Maharashtra, India |
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Date of Birth/Age : |
19.07.1956 |
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Date of Appointment : |
24.09.2013 |
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PAN No.: |
ADWPJ7140B |
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DIN No.: |
00026544 |
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Name : |
Mr. Viswanathan Hariharan Kollengode |
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Designation : |
Nominee Director |
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Address : |
Flat No. 4, Kalyani Uttam Society, St. Anatomy Road, Chembur, Mumbai –
400071, Maharashtra, India |
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Date of Birth/Age : |
11.05.1962 |
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Date of Appointment : |
13.12.2012 |
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DIN No.: |
00391263 |
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Name : |
Mr. Utsav Baijal |
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Designation : |
Nominee Director |
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Address : |
C-501, Chaitanya Towers, Appasaheb Marathe Marg, Prabhadevi, Mumbai –
400025, Maharashtra, India |
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Date of Birth/Age : |
11.12.1976 |
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Date of Appointment : |
13.12.2012 |
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PAN No.: |
AFBPB8278H |
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DIN No.: |
02592194 |
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Name : |
Mr. Krishnan Srinivasan |
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Designation : |
Whole Time Director |
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Address : |
Pavithra, 38.2, Sector - 6, Vashi, Navi Mumbai - 400703, Maharashtra,
India |
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Date of Birth/Age : |
17.07.1962 |
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Qualification : |
07.03.2014 |
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PAN No.: |
ABBPS3256L |
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DIN No.: |
06829167 |
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Name : |
Khushboo Abhishek Mandawewala |
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Designation : |
Director |
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Address : |
B-161/171, Tanna Residency, Bay View, 392-Veer Savarkar Marg,
Prabhadevi, Mumbai - 400025, Maharashtra, India |
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Date of Birth/Age : |
29.01.1987 |
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Date of Appointment : |
06.08.2014 |
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DIN No.: |
06942156 |
KEY EXECUTIVES
|
Name : |
Mr. Pradeep Joshi |
|
Designation : |
Secretary |
|
Address : |
C/214, Bhoomi Hills, Near N. G. Suncity, Thakur Village, Kandivali
(East), Mumbai - 400101, Maharashtra, India |
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Date of Birth/Age : |
14.05.1973 |
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Date of Appointment : |
06.08.2014 |
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PAN No.: |
ADHPJ6528L |
MAJOR SHAREHOLDERS
As on 25.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Welspun Corp Limited, India |
|
5013396 |
|
Shashikant Thorat (Nominee of Welspun Corp Limited), India |
|
1 |
|
Devendra Patil (Nominee of Welspun Corp Limited), India |
|
1 |
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Ravindra More (Nominee of Welspun Corp Limited), India |
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1 |
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Mohan Manikkan (Nominee of Welspun Corp Limited), India |
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1 |
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Pradeep Joshi (Nominee of Welspun Corp Limited), India |
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1 |
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Rajendra Sawant (Nominee of Welspun Corp Limited), India |
|
1 |
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Total |
|
5013402 |
Equity Share Break up (Percentage of Total Equity)
As on 25.09.2014
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Trader of Steel Products. |
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Products : |
Steel Products |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information denied by management |
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Bankers : |
· Bank Of Baroda, Corporate Financial Service Branch, Ist Floor, Walchand Hirachand Marg, Mumbai, Maharashtra - 400001, India · Allahabad Bank Limited, Industrial Finance Branch, Allahabad Bank Bldg., 2ne Floor, 37, M S Marg, Fort, Mumbai – 400023, Maharashtra, India |
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Auditors : |
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Name : |
Sureka Associates Chartered Accountants |
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Address : |
45 C, Mandhana Manor, Mogal Lane, Matunga Road (West), Mumbai –
400016, Maharashtra, India |
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Tel. No.: |
91-22-24306150/ 24327608 |
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Fax No.: |
91-22-24327608 |
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E-Mail : |
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Memberships : |
-- |
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Collaborators : |
-- |
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Holding Company |
CIN No: L27100GJ1995PLC025609 |
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Fellow Subsidiary company : |
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Others : |
CIN No: U27109GJ2004PLC044249
CIN No.: U70109MH2007PTC168489
CIN No.: L17110GJ1985PLC033271
CIN No: U70200MH1998PTC117426
|
CAPITAL STRUCTURE
As on 25.09.2014
Authorised Capital :
Rs.50.500 Million
Issued, Subscribed & Paid-up Capital : Rs.50.500 Million
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
5050000 |
Equity Shares |
Rs. 10/- each |
Rs.50.500 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5013402 |
Equity Shares |
Rs. 10/- each |
Rs.50.134
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 |
|
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|
(1)Shareholders' Funds |
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(a) Share Capital |
50.134 |
50.134 |
50.134 |
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(b) Reserves & Surplus |
385.846 |
313.953 |
249.983 |
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(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
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(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
435.980 |
364.087 |
300.117 |
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(3)
Non-Current Liabilities |
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(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
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(b) Deferred tax liabilities (Net) |
0.050 |
0.070 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
1.103 |
2.597 |
0.000 |
|
Total Non-current
Liabilities (3) |
1.153 |
2.667 |
0.000 |
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(4)
Current Liabilities |
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(a) Short
term borrowings |
2,396.600 |
0.000 |
0.000 |
|
(b) Trade
payables |
347.619 |
5,165.046 |
1,589.757 |
|
(c) Other
current liabilities |
992.552 |
1,254.173 |
2,510.583 |
|
(d) Short-term provisions |
8.062 |
0.038 |
0.000 |
|
Total Current
Liabilities (4) |
3,744.833 |
6,419.257 |
4,100.340 |
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TOTAL |
4,181.966 |
6,786.011 |
4,400.457 |
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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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|
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(i)
Tangible assets |
2.945 |
3.270 |
0.000 |
|
(ii)
Intangible Assets |
0.022 |
0.028 |
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 |
3.361 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
2.090 |
0.085 |
0.085 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
8.418 |
3.383 |
0.085 |
|
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(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
264.045 |
327.562 |
2,033.711 |
|
(c) Trade
receivables |
1,552.501 |
4,313.634 |
1,560.780 |
|
(d) Cash and
cash equivalents |
91.201 |
270.301 |
3.811 |
|
(e)
Short-term loans and advances |
2,177.684 |
1,719.867 |
802.070 |
|
(f) Other
current assets |
88.117 |
151.264 |
0.000 |
|
Total
Current Assets |
4,173.548 |
6,782.628 |
4,400.372 |
|
|
|
|
|
|
TOTAL |
4,181.966 |
6,786.011 |
4,400.457 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
||
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SALES |
|
|
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||
|
|
|
Income |
21,386.107 |
27,470.749 |
5,459.076 |
|
|
|
|
Other Income |
275.958 |
38.383 |
23.841 |
|
|
|
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TOTAL (A) |
21,662.065 |
27,509.132 |
5,482.917 |
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Less |
EXPENSES |
|
|
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||
|
|
|
Purchase of Stock-in-trade |
18,268.150 |
22,729.014 |
7,152.420 |
|
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Changes in Inventories of finished goods, work-in-progress and
stock-in-trade |
63.517 |
1,706.148 |
-2,004.799 |
|
|
|
|
Employee Benefits Expenses |
50.437 |
42.880 |
0.000 |
|
|
|
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Other Expenses |
3,009.513 |
2,821.440 |
293.332 |
|
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|
|
TOTAL (B) |
21,391.617 |
27,299.482 |
5,440.953 |
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PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
270.448 |
209.650 |
41.964 |
||
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Less |
FINANCIAL
EXPENSES (D) |
162.338 |
111.957 |
1.779 |
||
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||
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|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
108.110 |
97.693 |
40.185 |
||
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Less |
DEPRECIATION/
AMORTISATION (F) |
0.582 |
0.069 |
0.000 |
||
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||
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|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
107.528 |
97.624 |
40.185 |
||
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||
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Less |
TAX (H) |
35.635 |
33.653 |
12.601 |
||
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||
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|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
71.893 |
63.971 |
27.584 |
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EARNINGS IN
FOREIGN CURRENCY |
|
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||
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|
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Export Earnings |
18710.857 |
20565.409 |
4093.492 |
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TOTAL EARNINGS |
18710.857 |
20565.409 |
4093.492 |
||
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||
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|
Earnings /
(Loss) Per Share (Rs.) |
14.34 |
12.76 |
5.50 |
||
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
0.34 |
0.23 |
0.51 |
|
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Operating Profit Margin (PBDIT/Sales) |
(%) |
1.26 |
0.76 |
0.77 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
2.57 |
1.44 |
0.91 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.25 |
0.27 |
0.13 |
|
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|
|
|
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|
Debt Equity Ratio (Total Debt /Networth) |
|
5.50 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.11 |
1.06 |
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 |
50.134 |
50.134 |
50.134 |
|
Reserves & Surplus |
249.983 |
313.953 |
385.846 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
300.117 |
364.087 |
435.980 |
|
|
|
|
|
|
Long Term borrowings |
0.000 |
0.000 |
0.000 |
|
Short Term borrowings |
0.000 |
0.000 |
2396.600 |
|
Total
borrowings |
0.000 |
0.000 |
2396.600 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
5.497 |
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 |
5,459.076 |
27,470.749 |
21,386.107 |
|
|
|
403.212 |
-22.150 |
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
|
5,459.076 |
27,470.749 |
21,386.107 |
|
Profit |
27.584 |
63.971 |
71.893 |
|
|
0.51% |
0.23% |
0.34% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS 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 |
No |
|
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 |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
UNSECURED LOANS:
|
Particulars |
31.03.2014 Rs. In Million |
31.03.2013 Rs. In Million |
|
SHORT TERM BORROWINGS |
|
|
|
Loans repayable on demand from banks |
2,396.600 |
0.000 |
|
Total |
2,396.600 |
0.000 |
PERFORMANCE
During the financial year sales decreased in terms of rupee by 22.15% (Rs.6084.600 Million) and quantity by 43.27% (203516 MT) compared to previous year. Major order executed during the year are Dodsal Engg, TCPL and Cunado.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10544401 |
13/01/2015 |
1,750,000,000.00 |
BANK OF BARODA |
CORPORATE FINANCIAL SERVICE BRANCH, Ist FLOOR, WALCHAND HIRACHAND MARG, MUMBAI, Maharashtra - 400001, INDIA |
C41111535 |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
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.63.88 |
|
|
1 |
Rs.97.21 |
|
Euro |
1 |
Rs.72.51 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
VNT |
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 |
4 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
|
33 |
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.