MIRA INFORM REPORT
|
Report No. : |
345113 |
|
Report Date : |
16.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
M PALLONJI SHIPPING PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
46/A, Cawasaji Patel Street, Fort, Mumbai – 400001, Maharashtra |
|
Tel. No.: |
91-22-66100000 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
26.10.2005 |
|
|
|
|
Com. Reg. No.: |
11-157051 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 16.820
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U63032MH2005PTC157051 |
|
|
|
|
IEC No.: |
0306009111 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM28367D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECM4615L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the business to own and operate ship for Bulk
Material handling activities. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
M Pallonji Shipping Private Limited incorporated in 2005, is a part of
M Pallonji Group. It is an established company having good track record. Subject is engaged in the business of providing logistics services. Available financial indicates company strong financial risk profile
marked by healthy networth position along with comfortable liquidity position
and good profit margin indicators of the company. Fundamentals of the company are strong and healthy. The rating also derives strength from its strong group and its
experienced management. Promoters are reported to be well experienced and knowledgeable
businessmen. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitments. In view of strong group support and sound financial base, 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
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 BY
|
Name : |
Mr. Sanjay |
|
Designation : |
Accountant |
|
Contact No.: |
91-22-66100000 |
|
Date : |
14.10.2015 |
LOCATIONS
|
Registered Office : |
46/A, Cawasaji Patel Street, Fort, Mumbai – 400001, Maharashtra, India
|
|
Tel. No.: |
91-22-66100000 |
|
Fax No.: |
91-22-22855325 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mehli Kersasp Mistry |
|
Designation : |
Director |
|
Address : |
902, Bakhtavar Shahid Bhagat Singh Road, Colaba, Mumbai – 400005,
Maharashtra, India |
|
Date of Birth/Age : |
28.03.1960 |
|
Date of Appointment : |
26.10.2005 |
|
DIN No.: |
00344555 |
|
|
|
|
Name : |
Pheroze Kersasp Mistry |
|
Designation : |
Director |
|
Address : |
901, Bakhtavar Shahid Bhagat Singh Road, Colaba, Mumbai – 400005,
Maharashtra, India |
|
Date of Birth/Age : |
30.12.1962 |
|
Date of Appointment : |
26.10.2005 |
|
DIN No.: |
00344590 |
KEY EXECUTIVES
|
Name : |
Mr. Sanjay |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Equity Shareholders |
|
No. of Shares |
|
Mehli Kersasp Mistry |
|
10000 |
|
Pheroze Kersasp Mistry |
|
10000 |
|
M Pallonji and Co. Private Limited, India |
|
10000 |
|
|
|
|
|
Total |
|
30000 |
|
Names of Preference Shareholder |
|
No. of Shares |
|
M Pallonji and Co. Private Limited, India |
|
1652000 |
|
|
|
|
|
Total |
|
1652000 |
AS ON 30.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Bodies
corporate |
33.33 |
|
Directors
or relatives of directors |
66.67 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business to own and operate ship for Bulk
Material handling activities. |
|
|
|
|
Brand Names : |
-- |
|
|
|
|
Agencies Held : |
-- |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
|
|
Selling : |
Not Divulged |
|
|
|
|
Purchasing : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
||||||||||||||||||||||
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|
||||||||||||||||||||||
|
Bankers : |
· HDFC Bank Limited HDFC Bank House, Senapati Bapat Marg, Lower Parel [West], Mumbai - 400013, Maharashtra, India · Kotak Mahindra Bank Limited 36-38A, Nariman Bhavan, 227, D, Nariman Point, Mumbai -
400021, Maharashtra, India |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Sethy and Company Chartered Accountants |
|
Address : |
63, Swastik Plaza, 2nd Floor, V L Mehta Road, Jushu Scheme,
Next to Kala Niketan, Vile Parle (West), Mumbai – 400049, Maharashtra, India |
|
Tel. No.: |
91-22-66938927/ 26170821 |
|
Fax No.: |
91-22-26170821 |
|
Mobile No.: |
91-9821095688 |
|
Income-tax
PAN of auditor or auditor's firm : |
AEDPS2742Q |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Subsidiary Company : |
M. Pallonji Shipping Singapore Pte Limited |
|
|
|
|
Parties where control exists : |
· M. Pallonji and Co. Private Limited · Pallonji Leasing Private Limited · Pallonji Investments and Finance Private Limited · Pallonji Coatings Private Limited · M. Pallonji Enterprises Private Limited · M. Pallonji Trading Private Limited · Ravsons Investments Private Limited · Travotel (India) Private Limited · M. Pallonji Logistics Private Limited · Pallonji Industrial Finishers Private Limited |
|
|
|
|
List of Partnership Firms in which the Directors held substantial
interest : |
Sterling Motors |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50,000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.500 Million |
|
5,000,000 |
Preference Shares |
Rs. 10/- each |
Rs. 50.000 Million |
|
|
|
|
|
|
|
Total |
|
Rs. 50.500
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30,000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.300
Million |
|
1,652,000 |
Preference Shares |
Rs. 10/- each |
Rs. 16.520
Million |
|
|
|
|
|
|
|
Total |
|
Rs. 16.820 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 |
16.820 |
16.820 |
16.820 |
|
(b) Reserves & Surplus |
1501.996 |
1335.180 |
1546.669 |
|
(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) |
1518.816 |
1352.000 |
1563.489 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
286.520 |
398.860 |
1427.693 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
286.520 |
398.860 |
1427.693 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
0.000 |
10.773 |
|
(b)
Trade payables |
17.880 |
1.562 |
20.938 |
|
(c)
Other current liabilities |
178.121 |
912.678 |
511.438 |
|
(d)
Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Current Liabilities (4) |
196.001 |
914.240 |
543.149 |
|
|
|
|
|
|
TOTAL |
2001.337 |
2665.100 |
3534.331 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
696.596 |
565.806 |
514.390 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
194.685 |
224.821 |
191.485 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
985.459 |
1698.789 |
2627.159 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
32.646 |
|
Total
Non-Current Assets |
1876.740 |
2489.416 |
3365.680 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c)
Trade receivables |
22.984 |
10.428 |
46.859 |
|
(d)
Cash and cash equivalents |
47.841 |
49.214 |
44.651 |
|
(e)
Short-term loans and advances |
0.128 |
40.908 |
0.118 |
|
(f)
Other current assets |
53.644 |
75.134 |
77.023 |
|
Total
Current Assets |
124.597 |
175.684 |
168.651 |
|
|
|
|
|
|
TOTAL |
2001.337 |
2665.100 |
3534.331 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
620.100 |
532.354 |
|
|
|
|
Other Income |
43.396 |
59.481 |
|
|
|
|
TOTAL |
663.496 |
591.835 |
364.579 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
495.180 |
803.324 |
349.480 |
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
168.316 |
(211.489) |
15.099 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1.500 |
0.000 |
18.909 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
166.816 |
(211.489) |
(3.810) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Charter Hire/ Freight |
369.915 |
366.336 |
209.321 |
|
|
|
Demunurage Charges |
0.000 |
0.000 |
59.628 |
|
|
|
Sale of Vessel M P Panamax 1 |
0.000 |
0.000 |
341.299 |
|
|
|
Sale of Vessel M P Panamax 3 |
0.000 |
513.817 |
0.000 |
|
|
TOTAL EARNINGS |
369.915 |
880.153 |
610.248 |
|
|
|
|
|
|
|
|
|
|
Profit/ (Loss)
Per Share (Rs.) |
5560.52 |
(7049.63) |
(127.00) |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current
Maturities of Long term Borrowings |
|
|
|
|
From Banks in Foreign
Currency |
|
|
|
|
HDFC Bank Total USD outstanding C.Y.[US $ Nil] |
0.000 |
0.000 |
143.238 |
|
Current maturity of HDFC Bank Term Loan |
160.267 |
145.040 |
136.417 |
|
Current maturity of HDFC Bank Term Loan |
0.000 |
745.596 |
-- |
|
HDFC Bank Total USD outstanding C.Y.[US $ 3916666.68] |
0.000 |
0.000 |
200.363 |
|
Total |
160.267 |
890.636 |
480.018 |
|
|
|
|
|
|
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) |
(%) |
26.90 |
(39.73) |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.32 |
(8.67) |
0.45 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.11 |
(0.16) |
0.01 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.29 |
0.95 |
1.23 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.64 |
0.19 |
0.31 |
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 |
16.820 |
16.820 |
16.820 |
|
Reserves & Surplus |
1546.669 |
1335.180 |
1501.996 |
|
Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
1563.489 |
1352.000 |
1518.816 |
|
|
|
|
|
|
Long-term borrowings |
1427.693 |
398.860 |
286.520 |
|
Short term borrowings |
10.773 |
0.000 |
0.000 |
|
Current maturities of long-term Borrowings |
480.018 |
890.636 |
160.267 |
|
Total
borrowings |
1918.484 |
1289.496 |
446.787 |
|
Debt/Equity ratio |
1.227 |
0.954 |
0.294 |
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 |
364.579 |
591.835 |
663.496 |
|
|
|
62.334 |
12.108 |
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 |
364.579 |
591.835 |
663.496 |
|
Profit/ (Loss) |
(3.810) |
(211.489) |
166.816 |
|
|
(1.05%) |
(35.73%) |
25.14% |
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 |
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) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
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 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 |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10423913 |
25/04/2013 |
1,269,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE, SENAPATI
BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B74489766 |
|
2 |
10312418 |
03/09/2011 |
250,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE,
SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B23317522 |
|
3 |
10162060 |
16/06/2011 * |
60,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE,
SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B16364564 |
* Date of charge modification
PERFORMANCE OF THE
COMPANY
The Company has earned a profit of Rs. 166.816 Million for the financial
year 2013-14 against a loss of Rs. 211.489 Million. However the Directors
expect better performance in the ensuing financial year.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
Claims against
the company not acknowledged as debt: |
|
|
|
Income Tax and Wealth Tax |
34.967 |
38.938 |
FIXED ASSETS:
· Computer
· Telephone
· Xerox Machine
· Vehicles
· Ships
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. 64.82 |
|
|
1 |
Rs. 100.41 |
|
Euro |
1 |
Rs. 74.50 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
BVA |
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 |
6 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
54 |
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.