MIRA
INFORM REPORT
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Report Date : |
02.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
AGROCEL INDUSTRIES LIMITED |
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Registered Office : |
4th Floor, Doctor House, Lotus Colony, Opposite G. K.
General Hospital, Bhuj (Kutch)-370001, Gujarat |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
16.01.1985 |
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Com. Reg. No.: |
04-7569 |
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CIN No.: [Company
Identification No.] |
U24210GJ1985PLC007569 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
RKTA01170B |
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PAN No.: [Permanent
Account No.] |
AACCA7205J |
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Legal Form : |
Closely Held Public Limited Liability Company |
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Line of Business : |
Manufacturer and Seller of Marine Chemicals and Agro
Chemicals and Trader Seeds, Fertilizers, PVC Pipes T-shirts and others. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 250000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and reputed company having satisfactory
track. Directors are reported as
experienced and respectable businessmen.
Trade relations are reported as fair.
Business is active. Payments
are usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
4th Floor, Doctor House, Lotus Colony, Opposite G. K. General
Hospital, Bhuj (Kutch)-370001, Gujarat, India |
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Tel. No.: |
91-2832-253429 |
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Fax No.: |
91-2832-251429 |
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E-Mail : |
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Website : |
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Area : |
3000 sq. ft |
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Location : |
Owned |
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Head Office : |
184-87, S. V. Road, Jogeshwari (West), Mumbai-400102, Maharashtra, India |
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Tel. No.: |
91-22-26903164/26788258/69 |
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Fax No.: |
91-22-26783757/26783657/26784522 |
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Corporate Office : |
Plot No. B5, Gaiwadi Industrial Estate, S. V. Road, Goregaon (West),
Mumbai -400 062, Maharashtra, India |
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Tel. No.: |
91-22-28721862/28766032 |
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E-Mail : |
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Factory : |
Greater Rann of Kutch, Near Village Dhordo, Taluka Bhuj, Kutch, Gujarat State, India |
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Tel. No.: |
91-2803-288310/266082 |
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Area : |
1 acre |
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Service Center : |
Near Koday Char Rasta, Gunnagar, Mandvi-Kutch-370460, Gujarat, India |
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Tele Fax No.: |
91-2834-220612/275423/275423 / 265158 |
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Fax No.: |
91-2834-275423 / 223838 |
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E-Mail : |
agrocel2003@yahoo.com |
DIRECTORS
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Name : |
Mr. Sarayiya Prafulbhai Manilal |
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Designation : |
Chairman |
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Date of Birth/Age : |
8th December, 1942 |
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Date of Appointment : |
28th December, 2000 |
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Name : |
Mr. Shroff Dipesh Kantisen |
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Designation : |
Director |
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Date of Birth/Age : |
3rd February, 1960 |
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Date of Appointment : |
26th June, 1996 |
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Name : |
Mrs Usha Ashwin Shroff |
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Designation : |
Director |
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Date of Birth/Age : |
28th March, 1947 |
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Date of Appointment : |
26th June, 1996 |
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Name : |
Mr. Naik Jagdish Ramanlal |
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Designation : |
Director |
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Date of Birth/Age : |
23rd September, 1958 |
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Date of Appointment : |
26th June, 1996 |
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Name : |
Mr. Gohil Manoj Dhanshukhbhai |
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Designation : |
Director |
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Date of Birth/Age : |
19th July, 1958 |
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Date of Appointment : |
26th June, 1996 |
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Name : |
Mr. Gupta Babula Ramjilal |
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Designation : |
Director |
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Date of Birth/Age : |
5th May, 1948 |
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Date of Appointment : |
26th June, 1996 |
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Name : |
Mr. Vinayak Bhajibhai Buch |
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Designation : |
Director |
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Date of Birth/Age : |
21st February, 1940 |
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Date of Appointment : |
26th June, 1998 |
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Name : |
Dr. Rajendra Prahlad Choudhari |
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Designation : |
Director |
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Date of Birth/Age : |
23.11.1959 |
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Date of Appointment : |
26.12.2002 |
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Name : |
Mr. Rajnikant Mohanlal Patel |
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Designation : |
Director |
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Date of Birth/Age : |
25.12.1952 |
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Date of Appointment : |
20.01.2004 |
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Date of Ceasing : |
29.12.2004 |
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Name : |
Dr. Kirtithkai Nanubhai Shelat IAS |
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Designation : |
Director |
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Date of Birth/Age : |
09.01.1946 |
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Date of Appointment : |
29.12.2004 |
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Date of Ceasing : |
07.01.2005 |
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Name : |
Mr. Satishchandra Shrivastav IFS |
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Designation : |
Director |
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Address : |
A – 1 Satyam Flats, Near Gujarat College, Ellisbridge, Ahmedabad –
380006, Gujarat, India |
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Date of Birth/Age : |
28.10.1956 |
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Date of Appointment : |
07.08.2005 |
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PAN No. : |
00903704 |
KEY EXECUTIVES
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Name : |
Mr. Raval Janakrai Dhanwamtrai |
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Designation : |
Secretary |
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Date of Birth/Age : |
14th November, 1953 |
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Date of Appointment : |
28th August, 2000 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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Percentage of
Holding |
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Government Companies |
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11.00 |
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Bodies Corporate |
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36.00 |
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Directors or relatives of directors |
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44.00 |
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Other top Fifty shareholders |
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9.00 |
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TOTAL |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Seller of Marine Chemicals and Agro Chemicals
and Trader Seeds, Fertilizers, PVC Pipes T-shirts and others. |
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Products : |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
Europe |
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Terms : |
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Purchasing : |
L/C |
PRODUCTION STATUS
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Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
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Bromine and its compounds |
Tones |
1840 |
1600 |
1469 |
GENERAL
INFORMATION
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No. of Employees : |
62 |
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Bankers : |
Ø Bank of Baroda Ø HDFC Bank Limited Ø Kutch Gramin Bank Ø Bank of India, Main Branch, Bhuj Branch, Swaminarayan Commercial Complex, Hospital Road, Darbargadh, Prag Mahal, Bhuj - 370001, Gujarat, India Ø Gujarat State Financial Corporation Ø Kutch Gramin Bank Ø State Bank of India Ø Union Bank of India Ø Dena Bank Ø ABN Amro Bank |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Madhusudan C. Mashruwala and Company Chartered Accountants |
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Address : |
301-30, “Akik”, Opposite Lions Hall, Mithakhali, Ahmedabad-380006, Gujarat, India |
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Tel. No.: |
91-79-26462430/26467183 |
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Joint Ventures : |
Ø Gujarat Agro Industries Corporation Limited Ø Colourtex India Limited |
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Associates : |
Ø SGS Ø Geochem Ø SKAL Ø IRFT Ø Pritami Industries Private Limited Ø Dipakanti Investment and Finance Private Limited Ø Utkarsh Leased and Finance Private Limited Ø Haritosh Investment and Trading Private Limited Ø Harshkar Investment Private Limited Ø Madison Investment Private Limited Ø Vishwa Investment and Finance Private Limited Ø Gohali Investment and Finance Private Limited Ø Transpek Industries Limited Ø Nirmal Colorants and Chemical Manufacturer Company Limited Ø Gujarat Agro Industries Corporation Limited Ø Colourtex India Limited |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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300000 |
Equity Shares |
Rs. 100/- each |
Rs. 30.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
250000 |
Equity Shares |
Rs. 100/- each |
Rs. 25.000
millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
25.000 |
25.000 |
25.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
41.751 |
40.419 |
29.662 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
66.751 |
65.419 |
54.662 |
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LOAN FUNDS |
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1] Secured Loans |
32.397 |
22.506 |
27.147 |
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2] Unsecured Loans |
73.547 |
52.634 |
40.790 |
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TOTAL BORROWING |
105.944 |
75.140 |
67.937 |
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DEFERRED TAX LIABILITIES |
21.729 |
19.203 |
16.869 |
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TOTAL |
194.424 |
159.762 |
139.468 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
140.998 |
105.764 |
90.593 |
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Capital work-in-progress |
29.804 |
14.509 |
17.908 |
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INVESTMENT |
15.385 |
0.664 |
0.664 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
68.953
|
46.421 |
43.507 |
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Sundry Debtors |
44.510
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95.962 |
31.261 |
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Cash & Bank Balances |
7.445
|
1.997 |
10.865 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
23.370
|
9.974 |
18.752 |
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Total
Current Assets |
144.278
|
154.354 |
104.385 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
132.197
|
109.229 |
70.068 |
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Provisions |
3.844
|
6.300 |
4.014 |
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Total
Current Liabilities |
136.041
|
115.529 |
74.082 |
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Net Current Assets |
8.237
|
38.825 |
30.303 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
194.424 |
159.762 |
139.468 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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Sales Turnover |
327.368 |
334.721 |
201.676 |
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Other Income |
9.106 |
3.404 |
4.425 |
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Increase / [Decrease] in stock |
0.000 |
[2.322] |
7.481 |
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Total Income |
336.474 |
335.803 |
213.582 |
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Profit/(Loss) Before Tax |
4.672 |
14.256 |
2.922 |
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Provision for Taxation |
3.340 |
5.784 |
2.143 |
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Profit/(Loss) After Tax |
1.332 |
8.472 |
0.779 |
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Earnings in Foreign Currency : |
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Export Earnings |
N.A. |
89.795 |
17.891 |
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Commission Earnings |
N.A. |
0.000 |
0.000 |
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Other Earnings |
N.A. |
0.000 |
0.000 |
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Total Earnings |
N.A. |
89.795 |
17.891 |
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Imports : |
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Raw Materials |
N.A. |
67.160 |
9.286 |
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Stores & Spares |
N.A. |
0.000 |
0.000 |
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Capital Goods |
N.A. |
0.000 |
0.000 |
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Others |
N.A. |
0.000 |
0.000 |
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Total Imports |
N.A. |
67.160 |
9.286 |
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Expenditures : |
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Manufacturing Expenses |
0.000 |
309.358 |
198.973 |
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Interest |
0.000 |
6.055 |
5.972 |
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Depreciation & Amortization |
8.163 |
6.133 |
5.715 |
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Other Expenditure |
323.639 |
0.000 |
0.000 |
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Total Expenditure |
331.802 |
321.546 |
210.660 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
PAT / Total Income |
(%) |
0.39
|
2.52 |
0.36 |
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Net Profit Margin (PBT/Sales) |
(%) |
1.38
|
4.24 |
1.36 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
1.63
|
5.48 |
1.49 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.06
|
0.21 |
0.05 |
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Debt Equity Ratio (Total Liability/Networth) |
|
3.62
|
2.91 |
2.59 |
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Current Ratio (Current Asset/Current Liability) |
|
1.06
|
1.33 |
1.40 |
LOCAL AGENCY
FURTHER INFORMATION
History :
Subject was incorporated on 16th January, 1985 at Ahmedabad in Gujarat having Company Registration Number 04-7569.
Subject was incorporated on 16th January, 1985 with the name of Agrocel Pesticides Limited. The name was changed to the present from 22nd February, 1999.
Subject registered office was shifted from Khet Udhyog Bhavan, Opp. High Court Navrangpura, Ahmedabad-380014, Gujarat India to Sanyukta Society, Gayatri Mandir Road, Bhuj-370001, Gujarat, India on 16th January, 1985. Again subject’s address changed to 4th Floor Doctor House, Lotus Colony, Opp General Hospital, Bhuj (Kutch)-370001, Gujarat, India on 25th March, 1998.
Fixed Assets :
Land, Building, Plant and Machinery,
Furniture, Fixture and Equipments and Vehicles.
Form 8 Particular for
creation or modification of charges
|
Corporation identity number or foreign company registrations number of
the company |
U24210GJ1985PLC007569 |
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Name of the company |
AGROCEL INDUSTRIES LIMITED |
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Address |
4th
Floor, Doctor House, Lotus Colony, Opposite G. K. General Hospital, Bhuj
(Kutch)-370001, Gujarat |
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This Form is for |
Modification of charge |
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Type of Charges |
Equitable mortgage or mortgage of property
by depositing the title deeds |
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Particular of the charge holder
|
U99999MH1906PTC000243 |
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Nature or description of the instrument creating charge |
Bank of India Limited Bhuj Branch, Swaminarayan Commercial
Complex, Hospital Road, Bhuj, Kutch - 370001, Gujarat E-mail : boibhujad1@sancharnet.in |
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Amount Secure by the charge |
Rs. 62.500 millions |
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Description of the property charge whether it is a charge on |
Immovable Properties |
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Modification charge Charge identification number of the charge to be modified |
80004243 |
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Brief description of the instrument modifying the charge |
Equitable mortgage oral assent – variation
owing to increased limit / or [facility] with or without variation in the
rate of interest |
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Date of instrument modifying the charge |
22.05.2006 |
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Particulars of the Property charged
|
Property comprising of land and buildings
and other structures, fixed machinery / plant and furnitures / fixtures
erected or installed thereon situate at Greater Rann of Kutch, Near Village
Dhordo, Ta : Bhuj [Kutch] and office premises at 4th Floor, Doctor
House, Opposite General Hospital, Bhuj [Kutch] for additional advance of Rs.
25.000 millions and aggregating total advance to Rs. 62.500 millions |
|
Particulars of the present modification |
Existing charge of Rs. 37.500 millions to cover
additional limits of Rs. 25.000 millions and thereby making total charge for
fund based and non fund based limits aggregating to Rs. 62.500 millions |
WEBSITE DETAILS
PROFILE
Agrocel is a closely held limited company having 89% stake of Shroff
Family and 11% stake of Gujarat Agro Industries (Gujarat Government
Enterprise).
Shroff Group of Companies include: Excel Industries Limited, Excel Crop Care
Limited, Transpek Industries Limited, Trans Metal Industries, Hyderabad
Chemicals Limited, Punjab Chemicals Limited, Parul Industries and Shroff
Engineering.
Shroff Group is well known for manufacturing chemicals with complicated
chemistry by innovative ideas and with in-house R & D.
Agrocel Industries operates through it's two divisions:
● Agriculture Service Division
● Marine Chemicals Division
Underlying Principles:
● Extracting advantage out of difficult situation.
● Local employments
● Nurturing remotely located border districts of India
● Achieving outstanding performance from local human resources
● Creative organization
● Simplicity + low overheads = turnover management
● Beyond logic project
● Flat structured organization
● Social responsibility
● Goodwill of the people
● Using group dynamics as a tool and with common clarity, common
goal and common direction, a dedicated team of 250 will undertake new
challenges.
● Dynamic Board members / Stock holders.
Human Resources:
● Working University
● Each individual has a dynamic potential.
● Education system creates subject focused expertise. Agrocel
converts that to multifaceted versatility.
● Agrocel trains people who are deprived of formal education to
operative expertise in their chosen fields.
● Flat organizational structure enables Agrocel to build up a
homogenous strong team.
● Team work is the key to Agrocel's success.
● Low manpower turn over.
● Fair Trade practices reaps loyalty.
Vision Statement for Agrocel.
They, at Agrocel, “Ordinary Looking” people strive to create
“Extra Ordinary” results, through “Trust (Shraddha), Concentration
(Ekagrata), and Self
Respect (Swaman)".
Working “beyond logic” guided by common sense is their strength.
Group Dynamics is their “Tantra”.
Common Clarity, Common Goal and Common Direction is our “Mantra”.
Simplicity is their way of life.
Teamwork is their “Dharma”.
Small or Big job is equally important for them
They have learnt to enjoy creating something new / pioneering work, by converting Disadvantages into Advantages.
Difficulties and Natural Calamities have made them stronger.
In India, they are graced by Almighty with “Fire (Agni), Water (Jal), Air (Vayu), Earth (Dhara), Ether (Aakash) (Panch Mahabhut)”
They shall work for wealth generation through “Samanvay” of Science and Technology, Management and Experience.
Environment, Health and Safety are of prime concern to them.
They shall satisfy our stakeholders (shareholders, customers, suppliers, employees and neighborhood) through sustainable growth.
Uplifting quality of life of employees and surrounding inhabitants is their responsibility.
“Rashtrabhakti” & “Rashtra Samman” is their foundation.
Marine Chemicals Division:
Agrocel, the member of Shroff Group of Companies shall generate the wealth for the nation through the global business of Organic Chemicals, Inorganic Chemicals, Specialty Chemicals and Natural Products, Manufactured through indigenous technology.
Agri-Service Division:
They aim to provide supply input and marketing support to farmers, introduce technology for better yield, improve crop quality and reduce costs.
Mission Statements: Marine Chemicals Division | Agri-Service Division
They are committed to reach Business of Rs. 1110 millions of Chemicals and Natural Products by 2010 & Rs. 2500 millions by 2015.
With
Broad Portfolio of various products
Manufactured at
Dhordo, Kutch Marine Chemicals Complex and Avania Bhavnagar Specialty Chemicals Complex
Focusing on
Bromine, Bromine compounds and specialty products, Magnesium compounds like Magnesium Chloride, Magnesium Oxide and Magnesium metal.
Potash Chemicals like Potassium Nitrate, Potassium Sulphate, edible low Sodium Salt, Health/SPA products – as diversified business, optimizing the usage of 10,000 acres of land.
By way of
Continuous and in-house indigenous technology development in all fields, with technical help of CCSRI and CSMCRI,
Adopting
World Class Manufacturing practices,
Expanding broad base portfolio of products,
Using renewable energy sources to develop wood based gasifier for power – thermal application to mitigate the Global Energy Crisis.
And
They shall do Strategic alliances with Indian Companies/Multinational Companies.
Also
They shall offer intermediate products to growing Pharma and Agri-business sector.
They shall cater the Global Market by supplies and services of their products.
Make all possible agri-inputs and marketing support available to farmers at the right time and at a reasonable cost with all necessary technical assistance and guidance under one roof so that farmers’ farm productivity and income levels increase along with National productivity – all these through fair deals.
Commitment is to work for “Progressive, Regenerative and Sustainable Agriculture”
Motto: “Service with a Human Face”
Associations and Alliances
Agrocel has many linkages with NGO’s, to ensure a total impact on improved
livelihood in the areas:
NGO Work Field
Shroff Foundation Provides employment in embroidery by hand. Also runs programs in water shed,
health, animal husbandry and agriculture.
CC Shroffs self help center Provides employment to families from city slum areas, by value addition in textiles
and gift articles.
Shrujan Trains and provides an occupation for 3000 women in embroidery by hand and
stitching.
Vivekanand Research and
Training Institute Researches and trains to improve farmer areas with programs in water
management, water harvesting, children education, employment generation and
animal husbandry.
VGS Trains and provides an occupation in batik, hand printing and block printing for
500 families.
To keep track of the latest developments Agrocel has good contacts and links with government, research and educational institutes, sharing knowledge and expertise:
Agricultural Universities
Central Cotton Research institute
ICRISAT (International Crop Research Institute for Semi Arid Tropics)
Manage (National Institute of Agricultural Extension Management)
NTGCF (National Tree Growing Cooperatives Foundation)
NDDB (National Dairy Development Board)
NRCG (National Research Center for Groundnut)
Associated Websites:
www.agrocel-cotton.com
To meet the demand for a reliable Organic and Fairtrade Cotton Fibre, Agrocel
Industries Limited, in conjunction with Vericott Limited and Traidcraft
Exchange, have defined and branded a cotton fibre. Agrocel® Pure & Fair
Indian Organic Cotton.
www.naturally-elegant.com
They provide high quality natural ingredients to the fast growing personal care
and health spa industries through their partner - Naturally Elegant, LLC
www.gossypium.co.uk
UK's leading organic and fairly traded cotton clothes' brand.
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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.44.50 |
|
UK Pound |
1 |
Rs.85.86 |
|
Euro |
1 |
Rs.58.39 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
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 |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average/normal. |
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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|