MIRA INFORM REPORT
|
Report No. : |
342876 |
|
Report Date : |
01.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
ARVIND PIPES AND FITTINGS INDUSTRIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Office No. 8, 1St Floor, Pathan Street, Plot No 49 Maruti
Mandir Marg Durgadevi Udyan, 5th Kumbharwada, Girgaon, Mumbai –
400004, Maharashtra |
|
Tel. No.: |
91-22-66394848 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation
: |
07.11.1990 |
|
|
|
|
Com. Reg. No.: |
11-058868 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.16.242 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27200MH1990PTC058868 |
|
|
|
|
IEC No.: |
0393039340 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMA07339D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCA3906B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Exporter and Importer of Stainless Steel Pipes and
Fittings. |
|
|
|
|
No. of Employees
: |
60 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 290000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Arvind Pipe and Fittings Industries Private Limited (APFIPL) was
incorporated in the year 1990. It manufacturers stainless steel pipes,
fittings and tubes of various dimensions. The rating on company reflects steady growing scale of operating
income along with it profit backed by decent financial risk profile marked by
adequate networth base and comfortable debt protection metrics. Rating continuous to gain strength from the long track record of the
company’s promoters in the steel pipes and fittings industry, reputed
customer profile and favourable demand indicators for the steel pipes and
tubes industry. Trade relations are fair. Business is active. Payment terms are
reported as usually correct. In a view aforesaid, 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.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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
31-03-2015.
INFORMATION PARTED BY
|
Name : |
Mr. Mafatlal Mehta |
|
Designation : |
Director |
|
Contact No.: |
91-9322140023 |
|
Date : |
30.09.2015 |
LOCATIONS
|
Registered Office : |
Office No. 8, 1St Floor, Pathan Street, Plot No 49 Maruti
Mandir Marg Durgadevi Udyan, 5th Kumbharwada, Girgaon, Mumbai –
400004, Maharashtra, India |
|
Tel. No.: |
91-22-66394848 / 23895412 / 23891702 |
|
Mobile No.: |
91-9322140023 (Mr. Mafatlal) |
|
Fax No.: |
91-22-23866570 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
2500 Sq. ft. |
|
Location : |
Owned |
|
|
|
|
Factory : |
Plot No.657, G.I.D.C. Industrial Estate, Vaghodia, Vadodara – 391760, Gujarat, India |
|
Tel. No.: |
91-2668-262499 / 262092 |
|
Fax No.: |
91-2668-262101 |
|
E-Mail : |
|
|
Area : |
25000 sq. ft. |
|
Location : |
Owned |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Mafatlal Mishrimal Mehta |
|
Designation : |
Managing Director |
|
Address : |
702, |
|
Date of Birth/Age : |
08.04.1960 |
|
Qualification : |
Post Graduate |
|
Date of Appointment : |
07.11.1990 |
|
DIN No.: |
01491429 |
|
|
|
|
Name : |
Mr. Manish Babulal Shah |
|
Designation : |
Director |
|
Address : |
Du-17-18, Mun G M 1, Keshav Bhavan, A Khetwadi, 7 V Galli, Mum G N 1
to 3, Mumbai – 400004, Maharashtra, India |
|
Date of Birth/Age : |
02.09.1978 |
|
Date of Appointment : |
01.08.2013 |
|
DIN No.: |
06643257 |
MAJOR SHAREHOLDERS
AS ON 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Mafatlal M. Mehta |
|
58215 |
|
Dilip M. Mehta |
|
880 |
|
Arvind M. Mehta |
|
2195 |
|
Vimlaben D. Mehta |
|
4500 |
|
Badamiben M. Mehta |
|
22800 |
|
Shantaben M. Mehta |
|
2650 |
|
Mafatalal M. Mehta (HUF) |
|
20230 |
|
Kamala D. Mehta |
|
500 |
|
Shweta M. Mehta |
|
50 |
|
Sayatiben A. Mehta |
|
3100 |
|
Jinesh D Mehta |
|
6280 |
|
Dilip M Mehta HUF |
|
2100 |
|
New Space Co limited |
|
14973 |
|
Wimco International (HK) Company Limited |
|
22945 |
|
Manish B Shah |
|
1000 |
|
|
|
|
|
Total |
|
162418 |
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] |
23.35 |
|
Directors or relatives of Directors |
76.04 |
|
Other top fifty shareholders |
0.61 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of Stainless Steel Pipes and
Fittings. |
|
|
|
|
Products : |
Stainless Steel Pipes and Fittings |
|
|
|
|
Brand Names : |
Not Divulged |
|
|
|
|
Agencies Held : |
Not Divulged |
|
|
|
|
Exports : |
|
|
Products : |
Stainless Steel Pipes and Fittings |
|
Countries : |
|
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
Cash, Credit |
|
|
|
|
Purchasing : |
Cash, Credit |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
60 (Approximately) |
||||||||||||||||||||||
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Bankers : |
|
||||||||||||||||||||||
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|
||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
A P and Company Chartered Accountants |
|
Address : |
512 A, Rewa Chambers, 5th Floor, 31 Sir Vithaldas
Thackersey Marg, Mumbai – 400020, Maharashtra, India. |
|
Tel. No.: |
91-22-22017205/ 22017206 |
|
Fax No.: |
91-22-22019953 |
|
PAN No.: |
AAAFA6366R |
|
|
|
|
Memberships : |
Not Divulged |
|
|
|
|
Collaborators : |
Not Divulged |
|
|
|
|
Associate companies/ firms on which key
management personnel or their relatives have significant influence : |
·
Bharat Tubes
|
|
|
|
|
Related Party : |
|
CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000 |
Equity Shares |
Rs.100/- each |
Rs.25.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
162418 |
Equity Shares |
Rs.100/- each |
Rs.16.242 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 |
16.242 |
16.242 |
16.242 |
|
(b) Reserves & Surplus |
86.158 |
78.146 |
70.722 |
|
(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) |
102.400 |
94.388 |
86.964 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
81.093 |
76.943 |
77.548 |
|
(b) Deferred tax liabilities (Net) |
13.236 |
13.167 |
12.841 |
|
(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) |
94.329 |
90.110 |
90.389 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
92.625 |
49.078 |
47.058 |
|
(b) Trade
payables |
130.695 |
132.763 |
82.834 |
|
(c) Other
current liabilities |
6.070 |
8.831 |
6.813 |
|
(d) Short-term
provisions |
5.742 |
3.837 |
2.872 |
|
Total Current
Liabilities (4) |
235.132 |
194.509 |
139.577 |
|
|
|
|
|
|
TOTAL |
431.861 |
379.007 |
316.930 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i) Tangible
assets |
102.904 |
108.901 |
115.007 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.720 |
0.720 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.005 |
0.005 |
0.005 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.743 |
0.748 |
0.846 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
104.372 |
110.374 |
115.858 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
0.080 |
0.080 |
0.081 |
|
(c) Trade
receivables |
116.067 |
81.270 |
73.711 |
|
(d) Cash
and cash equivalents |
177.251 |
156.034 |
87.934 |
|
(e)
Short-term loans and advances |
9.050 |
10.633 |
18.429 |
|
(f) Other
current assets |
25.041 |
20.616 |
20.917 |
|
Total
Current Assets |
327.489 |
268.633 |
201.072 |
|
|
|
|
|
|
TOTAL |
431.861 |
379.007 |
316.930 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
421.919 |
355.901 |
368.707 |
|
|
|
Other Income |
1.077 |
4.747 |
0.870 |
|
|
|
TOTAL (A) |
422.996 |
360.648 |
369.577 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
395.734 |
307.252 |
|
|
|
|
Changes in Inventories of finished goods, work-in-progress and
stock-in-trade |
(34.742) |
(7.559) |
|
|
|
|
Other direct costs |
11.308 |
11.524 |
|
|
|
|
Employee Benefits Expenses |
5.890 |
5.104 |
|
|
|
|
Other Expenses |
7.986 |
9.949 |
|
|
|
|
TOTAL (B) |
386.176 |
326.270 |
361.216 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
36.820 |
34.378 |
[Including
Financial & Depreciation Expenses] |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
20.172 |
18.746 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
16.648 |
15.632 |
|
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
6.805 |
6.916 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
9.843 |
8.716 |
8.361 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.973 |
1.291 |
(5.676) |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
7.870 |
7.425 |
14.037 |
|
|
|
|
|
|
|
|
|
|
Earnings in
Foreign Currency – FOB Value of Goods |
88.085 |
11.323 |
0.000 |
|
|
|
|
|
|
|
|
|
|
CIF Value of Imports
of Raw Materials |
75.002 |
97.838 |
80.914 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
48.45 |
45.71 |
-- |
|
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
435.000 |
Expected Sales (2015-2016): Rs.450.000 Million
The above information has been parted by Mr. Mafatlal
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 flow from (used in) operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin PAT / Sales |
(%) |
1.87 |
2.09 |
3.81 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
8.73 |
9.66 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets) |
(%) |
2.28 |
2.30 |
2.64 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.10 |
0.09 |
0.10 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.70 |
1.34 |
1.43 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.39 |
1.38 |
1.44 |
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 |
16.242 |
16.242 |
16.242 |
|
Reserves & Surplus |
70.722 |
78.146 |
86.158 |
|
Net
worth |
86.964 |
94.388 |
102.400 |
|
|
|
|
|
|
long-term borrowings |
77.548 |
76.943 |
81.093 |
|
Short term borrowings |
47.058 |
49.078 |
92.625 |
|
Total
borrowings |
124.606 |
126.021 |
173.718 |
|
Debt/Equity
ratio |
1.433 |
1.335 |
1.696 |
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 |
368.707 |
355.901 |
421.919 |
|
|
|
(3.473) |
18.550 |
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
|
368.707 |
355.901 |
421.919 |
|
Profit |
14.037 |
7.425 |
7.870 |
|
|
3.81% |
2.09% |
1.87% |
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 |
Yes |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
Yes |
|
19 |
Major customers |
Yes |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last four years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
Yes |
|
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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOANS:
|
Particulars |
31.03.2014 Rs. In Million |
31.03.2013 Rs. In Million |
|
Short Term Borrowings |
|
|
|
From Directors, Shareholders and Relatives |
56.209 |
47.489 |
|
From Others |
36.416 |
1.589 |
|
|
|
|
|
Total |
92.625 |
49.078 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10220534 |
14/02/2015 * |
177,500,000.00 |
Canara Bank |
Mid Corporate Branch, Fort - Market, Mumbai, Maharashtra - 400001, India |
C45526571 |
|
2 |
10195754 |
25/01/2012 * |
167,500,000.00 |
Canara Bank |
Mumbai Central Branch,, Opposite S T Bus Stand, 297, Bellaris Road, Mumbai, Maharashtra - 400008, India |
B35288307 |
*Date of modification Charges
FIXED ASSETS:
·
Air Car Engineers
·
Air-Conditioner
·
Aqua Water Filter
·
Computer
·
Crane
·
Dies and Tools
·
Electrical installation
·
Electronic Typewriter
·
Electronic Scale
·
E.P.A.B.X.
·
Factory and Building
·
Fax Machine
·
Fire Extinguisher
·
Furnace
·
Furniture
·
·
Motor Car
·
Mobile Phone
·
Plant and Machinery
·
Printer
·
Scooter
·
Tube Well
·
Water Pump
·
Diesel Generator Set
·
Grinding Machine
·
Motors
·
Testing Machine
·
Tractor
·
C N C Machine
·
Fan
·
CCTV and Cameras
·
Air Ventilators
·
Water Cooler
·
Wind Mill
·
Draw bench Machine
·
Electric Furnace
·
Plasma Cutting Welding
Machine
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.65.74 |
|
|
1 |
Rs.99.53 |
|
Euro |
1 |
Rs.73.80 |
INFORMATION DETAILS
|
Information Gathered
by : |
NYA |
|
|
|
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
46 |
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.