MIRA INFORM REPORT
|
Report No. : |
350558 |
|
Report Date : |
21.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
PORTESCAP INDIA PRIVATE LIMITED (w.e.f. 12.10.2006) |
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|
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Formerly Known
As : |
DANAHER MOTION INDIA PRIVATE LIMITED (18.10.2002) KOLLMORGEN INDIA PRIVATE LIMITED |
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Registered
Office : |
Unit No. 2, SDF-I, SEEPZ, SEZ, Andheri (East), Mumbai – 400096,
Maharashtra |
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Tel. No.: |
91-22-28924000 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
16.08.1994 |
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Com. Reg. No.: |
11-137603 |
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Capital
Investment / Paid-up Capital : |
Rs.122.793 Million |
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|
|
|
CIN No.: [Company Identification
No.] |
U31103MH1994PTC137603 |
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|
|
|
IEC No.: |
2795000016 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMK05457E |
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PAN No.: [Permanent Account No.] |
AAACK4896K |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Special Purpose Motors and Sub-Assemblies thereof. |
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No. of Employees
: |
Information declined by the Management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (53) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
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|
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having fine track. It was
incorporated in the year 1994 and it is engaged in manufacturing of miniature
motor products. As per financial of the year 2014, company possesses sound operational
performance with good profit margin recorded in the books. Further, rating also considers company’s healthy financial profile
supported by its strong networth base and zero debt balance sheet profile of
the company. Trade relations are reported as fair. Business is active. Payment are
reported to be regular and as per commitments. In view of good financial position, the company can be considered
normal for business dealings at usual trade terms and conditions. |
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 |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2015.
INFORMATION DECLINED
Management non-cooperative (Tel No.: 91-22-42006200)
LOCATIONS
|
Registered Office : |
Unit No. 2, SDF-I, SEEPZ, SEZ, Andheri (East), Mumbai – 400096,
Maharashtra, India |
|
Tel. No.: |
91-22-28924000/42006200/42006201 |
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Fax No.: |
91-22-26916034/28294036/2629 4038 |
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E-Mail : |
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Website : |
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Manufacturing Facilities: |
SEEPZ – SEZ ·
PI Units 3 and 4 in SDF – I ·
PI (DC Motors) – Units2, 13, 16 in SDF – I SEEPZ++ PI (DC Motors) in Block II Units 101 to 104 |
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Overseas Offices : |
Located At: ·
United States of America ·
·
·
·
·
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DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Amitava Sur |
|
Designation : |
Whole-Time Director |
|
Address : |
Flat No.B-1004, Plot No. 4/6, Seawoods Garden CHS, SEC-17/ Sanpada, Navi Mumbai – 400705, Maharashtra, India |
|
Date of Birth/Age : |
27.12.1968 |
|
Date of Appointment : |
15.11.2012 |
|
PAN No.: |
AHYPS4905P |
|
DIN No.: |
06423493 |
|
|
|
|
Name : |
Mr. Rishi Bhatnagar |
|
Designation : |
Whole-Time Director |
|
Address : |
28/101, East End Apartments, Mayur Vihar Phase-I, Extension, Delhi – 110096, India |
|
Date of Birth/Age : |
20.06.1959 |
|
Date of Appointment : |
03.10.2011 |
|
PAN No.: |
AEHPB8811R |
|
DIN No.: |
02261444 |
|
|
|
|
Name : |
Mr. James Andrew Eder |
|
Designation : |
Director |
|
Address : |
130 Stoner Drive, West Hartford, 06107, United States of America |
|
Date of Birth/Age : |
29.07.1945 |
|
Date of Appointment : |
01.07.2013 |
|
DIN No.: |
00271500 |
KEY EXECUTIVES
|
Name : |
Ms. Rashmi Omprakash Savita |
|
Designation : |
Secretary |
|
Address : |
A-I 02, Om Sai Cooperative Housing Society, Building No.2, Bharat Nagar, Tagore Nagar, Vikroli (East), Mumbai - 400083, Maharashtra, India |
|
Date of Appointment : |
26.03.2015 |
|
PAN No.: |
CECPS1929E |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
|
Portescap Singapore Pte. Limited, Singapore |
12279243 |
|
Portescap Singapore Pte. Limited Jointly with James Andrew Eder |
100 |
|
|
|
|
Total |
12279343 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2014
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Special Purpose Motors and Sub-Assemblies thereof. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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|
|
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Terms : |
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 declined by the Management. |
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Bankers : |
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Auditors : |
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Name : |
S. R. Batliboi and Associates Chartered Accountants |
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Address : |
14th Floor, The Ruby, 29 Senapati Bapat Marg, Dadar (West),
Mumbai – 400028, Maharashtra, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
ACHFS9118A |
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Memberships : |
-- |
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Collaborators : |
-- |
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Holding company
: |
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Fellow Subsidiary Companies : |
CIN No.:U99999MH1995PTC087146
CIN No.:U29268MH2009PTC194033
|
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14000000 |
Equity Shares |
Rs.10/- each |
Rs.140.000 Million |
|
4000000 |
Preference Shares |
Rs.10/- each |
Rs.40.000 Million |
|
|
|
|
|
|
|
Total |
|
Rs.180.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12279343 |
Equity Shares |
Rs.10/- each |
Rs.122.793 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 |
122.793 |
129.745 |
139.211 |
|
(b) Reserves & Surplus |
3026.100 |
2679.700 |
2733.4 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
3148.893 |
2809.445 |
2872.611 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
113.300 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
17.900 |
13.700 |
5.100 |
|
(d) long-term
provisions |
6.400 |
5.700 |
4.300 |
|
Total Non-current
Liabilities (3) |
137.600 |
19.400 |
9.400 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
552.500 |
623.900 |
487.000 |
|
(c) Other
current liabilities |
77.300 |
72.500 |
68.400 |
|
(d) Short-term
provisions |
71.800 |
59.700 |
31.000 |
|
Total Current
Liabilities (4) |
701.600 |
756.100 |
586.400 |
|
|
|
|
|
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TOTAL |
3988.093 |
3584.945 |
3468.411 |
|
|
|
|
|
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II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
459.100 |
469.900 |
292.300 |
|
(ii)
Intangible Assets |
1.100 |
1.700 |
1.800 |
|
(iii)
Capital work-in-progress |
1.300 |
8.500 |
16.600 |
|
(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 |
36.300 |
11.311 |
|
(d) Long-term Loan and Advances |
236.800 |
141.800 |
266.600 |
|
(e) Other
Non-current assets |
1.400 |
1.400 |
0.000 |
|
Total Non-Current
Assets |
699.700 |
659.600 |
588.611 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
652.400 |
772.600 |
427.000 |
|
(c) Trade
receivables |
662.400 |
614.100 |
357.500 |
|
(d) Cash
and cash equivalents |
1920.600 |
1474.100 |
2017.400 |
|
(e)
Short-term loans and advances |
33.900 |
47.400 |
74.700 |
|
(f) Other
current assets |
19.093 |
17.145 |
3.200 |
|
Total
Current Assets |
3288.393 |
2925.345 |
2879.800 |
|
|
|
|
|
|
TOTAL |
3988.093 |
3584.945 |
3468.411 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
4144.100 |
3478.100 |
2350.600 |
|
|
Other Income |
168.800 |
159.400 |
166.400 |
|
|
TOTAL
|
4312.900 |
3637.500 |
2517.000 |
|
|
|
|
|
|
|
Less |
TOTAL
EXPENSES |
3125.800 |
2887.600 |
1781.400 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
1187.100 |
749.900 |
735.600 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
55.800 |
58.700 |
38.800 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
1131.300 |
691.200 |
696.800 |
|
|
|
|
|
|
|
Less |
TAX |
344.900 |
155.200 |
160.200 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
786.400 |
536.000 |
536.600 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1924.200 |
2257.400 |
1915.700 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to capital Redemption
Reserve |
7.000 |
9.500 |
0.000 |
|
|
Utilized for Buy back of
Equity Shares |
440.000 |
589.700 |
0.000 |
|
|
Special Economic Zone
Re-investment Allowance Reserve |
364.000 |
270.000 |
194.900 |
|
|
Total
|
811.000 |
869.200 |
194.900 |
|
|
|
|
|
|
|
|
BALANCE
CARRIED TO THE B/S |
1899.600 |
1924.200 |
2257.400 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
NA |
3466.200 |
2317.900 |
|
|
TOTAL
EARNINGS |
NA |
3466.200 |
2317.900 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
1935.500 |
949.500 |
NA |
|
|
Components and Stores parts |
132.800 |
40.800 |
NA |
|
|
Capital Goods |
68.600 |
17.00 |
NA |
|
|
TOTAL
IMPORTS |
2136.900 |
1007.300 |
NA |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
6.40 |
4.36 |
4.36 |
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 |
|
Net cash flows from (used in) operations |
1175.300 |
408.500 |
671.400 |
|
Net cash flow from operating activity |
822.400 |
122.100 |
350.400 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
18.98 |
15.41 |
22.83 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
28.38 |
19.52 |
20.25 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.36 |
0.25 |
0.24 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.69 |
3.87 |
4.91 |
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 |
139.211 |
129.745 |
122.793 |
|
Reserves & Surplus |
2733.400 |
2679.700 |
3026.100 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
2872.611 |
2809.445 |
3148.893 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
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 |
2350.600 |
3478.100 |
4144.100 |
|
|
|
47.966 |
19.148 |
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 |
2350.600 |
3478.100 |
4144.100 |
|
Profit |
536.600 |
536.000 |
786.400 |
|
|
22.83% |
15.41% |
18.98% |
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 |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
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 |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
No |
|
21 |
Banking facility details |
No |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
FINANCIAL RESULTS:
The Company has been advised that from AY 2006-07 onwards profit earned by a unit set-up in Special Economic Zone would be eligible for deduction under section 10AA of the Act. However in the past, i.e. upto Assessment Year 2010-11, Company has filed the return of income claiming deduction under section 10A of the Act. From AY 2011-12 onwards, Company has filed the return of Income claiming deduction under section 10AA of the Act. As per provisions of section 10AA of the Act Special Economic Zone Re-investment Allowance Reserve is required to be created from 11th year i.e. AY 2014-15 onwards which the company has created during the year, whereas under section 10A of the Act reserve is required to be created from 8th Year onwards. Pending assessment of the return of Income of the Company for the aforesaid relevant year claiming deduction under section 10AA of the Act, the Company has out of abundant caution, created reserve in the books in accordance with provisions of section 10A of the Act till AY 2013-14 being the 10th year of operation although in the return has correctly made claim under section 10AA of the Act. During the year amount of Rs. 16.100 Million (P.Y.Rs. 26.300 Million) has been utilized for acquisition of new plant and machineries for unit 2.
OPERATIONS
The Company’s performance has shown significant improvements during the year under report. During the year the stepper business unit which started operation during last financial years has reported sales of Rs.1420.000 Million (P.Y.Rs.1150.000 Million) and profit of Rs.210.000 Million during the year (P.Y. Loss Rs.3.500 Million). The Directors are confident of maintaining improved performance in the coming year.
The Company has been taking effective measures relating to cost control, meeting production, delivery and quality targets, management of stocks, efficient use of the resources and the competition in the industry.
CONTINGENT
LIABILITIES
Claims against the company not acknowledged as debts:
A suit has been filed by an ex-employee claiming an amount of Rs. 0.250 Million (Previous Year : Rs. 0.250 Million) together with interest @18% p.a. from November 1, 1996. The Company has given "No objection" to the Hon'ble Court for withdrawal of the amount by the complainant which was deposited by the company with the Court and the case is settled. The Company is in the process of filing the application with the Court for the copy of the Order and the same is awaited.
INDEX OF CHARGES: NO
CHARGES EXIST FOR THE COMPANY
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 records 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.66.11 |
|
|
1 |
Rs.101.03 |
|
Euro |
1 |
Rs.70.77 |
INFORMATION DETAILS
|
Information
Gathered by : |
KAM |
|
|
|
|
Analysis Done by
: |
HNA |
|
|
|
|
Report Prepared
by : |
RKI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
53 |
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.