MIRA
INFORM REPORT
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Report No. : |
345326 |
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Report Date : |
19.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
SOFTCON SYSTEMS
PRIVATE LIMITED |
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Registered
Office : |
Softcon House, Servey
No.80/02, Near Shahu Collage Off Mumbai- Bangalore
Highway, Tathawade, Taluka
Mulshi, Pune – 411033, Maharashtra |
|
Tel. No.: |
91-20-66521802 / 03 |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
13.06.2005 |
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Com. Reg. No.: |
11-020861 |
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Capital
Investment / Paid-up Capital : |
Rs.2.500 Million |
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|
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CIN No.: [Company Identification
No.] |
U72900PN2005PTC020861 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject specializes in control panel manufacturing, repair and
services. Its services broadly cover E&I Package, Power Management
Solutions, PCC, MCC, CE Panel manufacturing, erection and commissioning
refurbishing and repair. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
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 |
|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 2005 engaged in control panel manufacturing,
repair and services. Its services broadly cover E&I Package, Power
Management Solutions, PCC, MCC, CE Panel manufacturing, erection and
commissioning refurbishing and repair. The company possesses satisfactory operational performance and it has
maintained above average profitability margins at 3.39% during the year under
a review. Rating also takes into consideration company’s established track
record of business operations marked by its above average financial profile
along with average debt coverage indicators and sound gap between trade
payables to its receivables. Trade relations are reported as fair. Payment terms are reported to be
usually correct. The company can be considered 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 DENIED BY
|
Name : |
Mr. Narvekar |
|
Designation : |
Admin Officer |
|
Contact No.: |
91-20-66521802 |
|
Date : |
16.10.2015 |
LOCATIONS
|
Registered / Head Office / Factory : |
Softcon House, Servey
No.80/02, Near Shahu Collage Off Mumbai- Bangalore
Highway, Tathawade, Taluka
Mulshi, Pune – 411033, Maharashtra, India |
|
Tel. No.: |
91-20-66521802 / 03 |
|
Fax No.: |
Not Available |
|
E-Mail : |
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|
Website : |
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|
|
|
|
Sales Services and
Support Centre : |
D - 203, Vastu Prestige, Link Road, Oshiwara, Andheri West, Mumbai – 400053, Maharashtra, India |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Chandrakant Suryakantrao
Kulkarni |
|
Designation : |
Managing Director |
|
Address : |
C/ 102, First Floor, Empire Estate, Pune –
Mumbai Road, Pune – 411019, Maharashtra,
India |
|
Date of Birth/Age : |
19.04.1973 |
|
Date of Appointment : |
13.06.2005 |
|
DIN No.: |
01948061 |
|
|
|
|
Name : |
Ms. Neeta Chandrakant
Kulkarni |
|
Designation : |
Director |
|
Address : |
C/ 102, First Floor, Empire Estate, Pune –
Mumbai Road, Pune – 411019, Maharashtra,
India |
|
Date of Birth/Age : |
05.04.1975 |
|
Date of Appointment : |
13.06.2005 |
|
DIN No.: |
01948064 |
KEY EXECUTIVES
|
Name : |
Mr. Narvekar |
|
Designation : |
Admin Officer |
MAJOR SHAREHOLDERS
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Chandrakant Suryakantrao Kulkarni |
187500 |
75.00 |
|
Neeta Chandrakant Kulkarni |
62500 |
25.00 |
|
Total |
250000 |
100.00 |
As on 27.03.2015
|
Names of Allottee |
No. of Shares
Allotted |
|
Chandrakant Suryakantrao Kulkarni |
25725 |
|
Total |
25725 |
As on 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject specializes in control panel manufacturing, repair and services.
Its services broadly cover E&I Package, Power Management Solutions, PCC,
MCC, CE Panel manufacturing, erection and commissioning refurbishing and
repair. |
|
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|
|
Products : |
Not Available |
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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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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 : |
· PAN Century Surfactants Inc. · Pepsico · Renuka Sugars · ACC · Bhutan Centennial Distillery · Tata Motors Limited · Essar Steel Limited · Zydus · Reliance · Century Rayon · Jayprakash Associates Limited |
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No. of Employees : |
Information declined by the management. |
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Bankers : |
· Axis Bank Limited, CMC,214/215,City Mall, Ganeshkhind Road, Pune - 411007, Maharashtra, India ·
Standard Chartered Bank, SME Credit, 23-25, M
G Road, Fort, Mumbai - 400001, Maharashtra, India ·
Kotak Mahindra Bank Limited, 36-38A, Nariman
Bhavan, 227, D, Nariman
Point, Mumbai – 400021, Maharashtra, India ·
Cosmos Co-operative Bank Limited, 269/270, Shaniwar
Peth, Through its Chinchwad
Branch, Pune – 411030, Maharashtra,
India |
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Facilities : |
(Rs. In Million)
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|
Auditors : |
|
|
Name : |
Ulhas Mandhane and
Company Chartered Accountants |
|
Address : |
Flat No. B-5,Anant Apartment, J.M.Road, Shivaji Nagar, Pune – 411005, Maharashtra,
India |
|
Mobile No.: |
91-9822324190 |
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E-Mail : |
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PAN No.: |
AHAPM6816F |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Other Related Parties : |
·
Softcon Automation ·
Nikita Enterprises |
CAPITAL STRUCTURE
AFTER 30.09.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
490000 |
Equity Shares |
Rs.10/- each |
Rs.4.900 Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
275700 |
Equity Shares |
Rs.10/- each |
Rs.2.757
Million |
As on 30.09.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000 |
Equity Shares |
Rs.10/- each |
Rs.2.500 Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000 |
Equity Shares |
Rs.10/- each |
Rs.2.500
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 |
2.500 |
2.500 |
2.500 |
|
(b) Reserves &
Surplus |
26.477 |
18.807 |
14.035 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
0.257 |
0.257 |
0.257 |
|
Total Shareholders’ Funds
(1) + (2) |
29.234 |
21.564 |
16.792 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
14.689 |
1.508 |
4.716 |
|
(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) |
14.689 |
1.508 |
4.716 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
54.637 |
33.259 |
18.384 |
|
(b) Trade payables |
24.028 |
25.658 |
17.669 |
|
(c) Other current
liabilities |
9.606 |
14.689 |
16.098 |
|
(d) Short-term provisions |
6.062 |
4.422 |
5.810 |
|
Total Current Liabilities
(4) |
94.333 |
78.028 |
57.961 |
|
|
|
|
|
|
TOTAL |
138.256 |
101.100 |
79.469 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
8.764 |
14.355 |
16.997 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
26.155 |
0.000 |
0.000 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
1.076 |
1.871 |
1.723 |
|
(c) Deferred tax assets
(net) |
0.081 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
36.076 |
16.226 |
18.720 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
34.175 |
30.321 |
27.124 |
|
(c) Trade receivables |
49.456 |
39.763 |
24.394 |
|
(d) Cash and cash
equivalents |
0.975 |
0.954 |
0.771 |
|
(e) Short-term loans and
advances |
17.574 |
13.836 |
8.460 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
102.180 |
84.874 |
60.749 |
|
|
|
|
|
|
TOTAL |
138.256 |
101.100 |
79.469 |
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
|
222.808 |
238.537 |
|
|
Other Income |
|
26.008 |
18.285 |
|
|
TOTAL |
225.959 |
248.816 |
256.822 |
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
141.644 |
159.631 |
|
|
Employees benefits
expense |
|
29.970 |
22.893 |
|
|
Exceptional Items |
|
0.166 |
0.000 |
|
|
Other expenses |
|
62.328 |
59.107 |
|
|
TOTAL |
NA |
234.108 |
241.631 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
7.957 |
14.708 |
15.191 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
0.000 |
4.410 |
3.966 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
7.957 |
10.298 |
11.225 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
2.168 |
3.209 |
2.630 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
11.560 |
7.089 |
8.595 |
|
|
|
|
|
|
|
Less |
TAX |
3.890 |
2.317 |
2.797 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
7.670 |
4.772 |
5.798 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
30.68 |
19.08 |
23.19 |
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 operating activities |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Total Income) |
(%) |
3.39 |
1.92 |
2.26 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT / Total Income) |
(%) |
3.52 |
6.60 |
6.37 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.42 |
7.14 |
11.06 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.40 |
0.33 |
0.51 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.37 |
1.61 |
1.38 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.08 |
1.09 |
1.05 |
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 |
2.500 |
2.500 |
2.500 |
|
Reserves & Surplus |
14.035 |
18.807 |
26.477 |
|
Share Application money
pending allotment |
0.257 |
0.257 |
0.257 |
|
Net worth |
16.792 |
21.564 |
29.234 |
|
|
|
|
|
|
long-term borrowings |
4.716 |
1.508 |
14.689 |
|
Short term borrowings |
18.384 |
33.259 |
54.637 |
|
Total borrowings |
23.100 |
34.767 |
69.326 |
|
Debt/Equity ratio |
1.376 |
1.612 |
2.371 |
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 |
256.822 |
248.816 |
225.959 |
|
|
|
(3.117) |
(9.186) |
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 |
256.822 |
248.816 |
225.959 |
|
Profit |
5.798 |
4.772 |
7.670 |
|
|
2.26% |
1.92% |
3.39% |
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 |
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 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 |
Note:
Registered address has been shifted from the 337 and 338, S. No.
186/2/1A, Gokhale Plaza, Chinchwad,
Pune – 411033, Maharashtra,
India to the present address w.e.f. 15.06.2009.
NATURE OF BUSINESS
Subject is a private company domiciled in India and incorporated under
the provisions of the Companies Act, 1956. The company specializes in control
panel manufacturing, repair and services. Its services broadly cover E&I
Package, Power Management Solutions, PCC, MCC, CE Panel manufacturing, erection
and commissioning refurbishing and repair. The products of the company are
tailor made according to customer’s drawings and or Specifications.
UNSECURED LOAN
(Rs. In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
SHORT TERM
BORROWING |
|
|
|
Loan from HDFC |
1.427 |
0.000 |
|
Loan from Kotak Mahindra
Banks |
0.403 |
0.000 |
|
Loan from Deutsche Bank |
0.879 |
0.000 |
|
Loan from Tata Capital Limited |
0.486 |
0.155 |
|
Chandrakant Kulkarni -
Expenses |
0.043 |
0.011 |
|
Total |
3.238 |
0.166 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10427773 |
10/12/2014 * |
70,000,000.00 |
Citi Bank N.A. |
ONYX TOWER 37/3, NORTH MAIN ROAD, KOREGAON PARK, PUNE - 411001, Maharashtra, INDIA |
C41589201 |
FIXED ASSETS
·
Furniture and Fixture
·
Computer and Software
·
Instruments
·
Machinery
·
Tools and Instruments
·
Motor Car
·
Vehicles
·
Office Equipment
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a
proceedings for violating money-laundering, anti-corruption or bribery or
international economic or anti-terrorism sanction laws or whose assets were
seized, blocked, frozen or ordered forfeited for violation of money laundering
or international anti-terrorism laws.
2] Court Declaration:
No 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.64.96 |
|
|
1 |
Rs.100.55 |
|
Euro |
1 |
Rs.73.99 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
PNM |
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 |
5 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--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 |
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 |
|
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.