MIRA
INFORM REPORT
|
Report Date : |
26.06.2008 |
IDENTIFICATION
DETAILS
|
Name : |
RAJASTHAN DRUGS
AND PHARMACEUTICALS LIMITED |
|
|
|
|
Registered Office : |
Road No. 12, V K I
Area, Jaipur – 302 013, Rajasthan, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2007 |
|
|
|
|
Date of Incorporation : |
02.11.1978 |
|
|
|
|
Com. Reg. No.: |
17-1823 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U24232RJ1978PLC001823 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
JPRR00026F |
|
|
|
|
Legal Form : |
A Closely Held
Public Limited Liability Company |
|
|
|
|
Line of Business : |
The company is
engaged in Manufacturing & sale of Co- Trimoxazole IP Tablets,
Ciprofloxacin I. P. Tablets, Oral Rehydration Salt. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 460000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a
well-established and reputed company having satisfactory track. Directors are
reported as experienced and respectable businessmen. Their 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
|
Registered Office/Factory : |
Road No. 12, V K
I Area, Jaipur – 302 013, Rajasthan, India. |
|
Tel. No.: |
91-141-2333827/
2330618/ 2330740/ 2331074/ 2332008/2330110/2261580 |
|
Fax No.: |
91-141-2330461 |
|
Email.: |
|
|
Website: |
DIRECTORS
|
Name : |
Mr. Sandhu Sing
Gurcharanias |
|
Designation : |
Chairman &
Director |
|
Address : |
I/ I Saumya Marg,
Gandhi Nagar, Jaipur, Rajasthan. |
|
Date of Birth/Age : |
12.01.1951 |
|
Date of Appointment : |
09.06.2003 |
|
|
|
|
Name : |
Mr. Kaushik Kumar
Vinay |
|
Designation : |
Director |
|
Address : |
14 Vrindavan
Vihar, Near DCM Ajmer Road, Jaipur, Rajasthan. |
|
Date of Birth/Age : |
02.09.1946 |
|
Date of Appointment : |
02.05.2003 |
|
|
|
|
Name : |
Mr. Dasgupta
Parthasarathi |
|
Designation : |
Director |
|
Address : |
C – 60, Naraina
Vihar, New Delhi. |
|
Date of Birth/Age : |
12.03.1948 |
|
Date of Appointment : |
10.12.2002 |
|
|
|
|
Name : |
Mr. Krishan Gopal |
|
Designation : |
Director |
|
Address : |
23/216, Lodhi
Colony, New Delhi |
|
Date of Birth/Age : |
01.01.1946 |
|
Date of Appointment : |
10.12.2002 |
|
|
|
|
Name : |
Mr. Gupta Kumar
Arvind |
|
Designation : |
Director |
|
Address : |
C – 78 – A, Ciwar
Area, Bapu Nagar, Jaipur, Rajasthan. |
|
Date of Birth/Age : |
07.09.1955 |
|
Date of Appointment : |
15.04.1996 |
|
|
|
|
Name : |
Mr. Singh Ajit |
|
Designation : |
Director |
|
Address : |
II/ 34, Gandhi
Nagar, Jaipur, Rajasthan |
|
Date of Birth/Age : |
22.03.1954 |
|
Date of Appointment : |
06.09.2004 |
BUSINESS DETAILS
|
Line of Business : |
The company is
engaged in Manufacturing & sale of Co- Trimoxazole IP Tablets,
Ciprofloxacin I. P. Tablets, Oral Rehydration Salt. |
||||||||
|
|
|
||||||||
|
Products : |
|
PRODUCTION STATUS
(AS ON 31.03.2005)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Tablets |
Million |
300.00 |
300.00 |
378.14 |
|
Capsules |
Million |
30.00 |
45.00 |
32.83 |
|
Liquid Orals |
K. Ltrs. |
120.00 |
400.00 |
326.38 |
|
Powder |
Tonne |
- |
100.00 |
61.34 |
|
Vials/ Ampoules |
No. in Lacs. |
50.00 |
15.00 |
5.90 |
GENERAL
INFORMATION
|
Suppliers : |
v
Print Pack,
Jaipur v
Ambika
Industries Jaipur v
Anand Kutir
Udyog, Jaipur v
Packwell
(India) Private Limited, Jaipur v
Chemline
Imdia Limited, Delhi v
S. J.
Chemicals Industries, Udaipur v
Riddhi Sidhhi
Containers Private Limited, Jaipur v
Kirti
Printers, Jaipur v
Jubilee
Block & Offset Private Limited, Jaipur v
Elcon Drugs
& Formulations Limited, Jaipur v
Veekay
Enterprises, Delhi v
S. B.
Packaging, Jaipur v
Jaipur
Tissues, Jaipur v
Appex
Graphics, Jaipur v
Indo Print,
Jaipur v
Jalaram
Packaging, Mumbai v
Surya
Enterprises, Jaipur v
Amm Aar Pack
Offset, Jaipur |
||||||||||
|
|
|
||||||||||
|
No. of Employees : |
About 150 |
||||||||||
|
|
|
||||||||||
|
Bankers : |
Bank of Baroda,
VKI Area, Jaipur |
||||||||||
|
|
|
||||||||||
|
Facilities : |
The above facility
is secured by hypothecation of Raw materials, packing Materials, packing
Materials, Stock – in - Process,
Finished Goods, Book Debts and First
charge on Fixed assets of the company a s additional security. |
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
D. R. Mohnot
& Company Charted
Accountants |
|
Address : |
C – 20, Bhagwan
Dass Road, C – Scheme, Jaipur. |
|
Tel. No.: |
91-141-2379413/2369885 |
|
|
|
|
Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
AS ON 31.03.2007
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2000000 |
Equity Shares |
Rs. 10/- Each |
Rs. 20.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1070000 |
Equity Shares |
Rs. 10/- Each |
Rs. 10.700 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
10.700 |
10.700 |
10.700 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
81.800 |
64.800 |
50.500 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
92.500 |
75.500 |
61.200 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
75.400 |
48.100 |
25.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
75.400 |
48.100 |
25.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
167.900 |
123.600 |
86.200 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
17.900 |
16.600 |
13.900 |
|
|
Capital work-in-progress |
20.600 |
8.100 |
1.600 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
64.100
|
27.000
|
28.300
|
|
|
Sundry Debtors |
199.500
|
180.900
|
83.300
|
|
|
Cash & Bank Balances |
6.000
|
1.800
|
2.200
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
19.300
|
13.000
|
8.100
|
|
Total
Current Assets |
288.900
|
222.700 |
121.900
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
137.100
|
104.300
|
43.00
|
|
|
Provisions |
22.400
|
19.500
|
8.200
|
|
Total
Current Liabilities |
159.500
|
123.800 |
51.200
|
|
|
Net Current Assets |
129.400
|
98.900 |
70.700
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
167.900 |
123.600 |
86.200 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
Sales Turnover |
473.800 |
331.800 |
175.900 |
|
|
Other Income |
0.500 |
0.500 |
0.300 |
|
|
Total Income |
474.300 |
332.300 |
176.200 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
31.100 |
28.000 |
6.400 |
|
|
Provision for Taxation |
12.800 |
12.100 |
2.500 |
|
|
Profit/(Loss) After Tax |
18.300 |
15.900 |
3.900 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Cost of Goods Sold |
|
|
|
|
|
Manufacturing Expenses |
24.00 |
19.800 |
4.300 |
|
|
Administrative Expenses |
29.700 |
18.600 |
12.400 |
|
|
Raw Material Consumed |
291.000 |
173.400 |
90.900 |
|
|
Salaries, Wages, Bonus, etc. |
41.600 |
37.900 |
33.200 |
|
|
Power & Fuel |
3.200 |
3.500 |
3.300 |
|
|
Other Expenditure |
53.700 |
51.100 |
25.700 |
|
Total Expenditure |
443.200 |
304.300 |
169.800 |
|
KEY RATIOS
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
Debt-Equity
Ratio |
0.74 |
0.53 |
0.41 |
|
Long
Term Debt-Equity Ratio |
0.14 |
0.06 |
0.00 |
|
Current
Ratio |
1.33 |
1.44 |
1.60 |
|
TURNOVER
RATIOS |
|
|
|
|
Fixed
Assets |
13.69 |
10.72 |
6.11 |
|
Inventory |
10.40 |
12.00 |
6.22 |
|
Debtors |
2.49 |
2.51 |
2.11 |
|
Interest
Cover Ratio |
7.35 |
11.00 |
3.78 |
|
Operating
Profit Margin(%) |
7.98 |
9.76 |
5.74 |
|
Profit
Before Interest And Tax Margin(%) |
7.60 |
9.28 |
4.95 |
|
Cash
Profit Margin(%) |
4.24 |
5.27 |
3.01 |
|
Adjusted
Net Profit Margin(%) |
3.86 |
4.79 |
2.22 |
|
Return
On Capital Employed(%) |
24.70 |
29.36 |
10.09 |
|
Return
On Net Worth(%) |
21.79 |
23.26 |
6.37 |
LOCAL AGENCY
FURTHER INFORMATION
FIXED ASSETS:
Leasehold Land,
Building, Road, Drainage & Culverts, Plant & Machinery, Electric
Installation, Water Supply & Sewerage System, Air Conditioning & Ventilation,
Laboratory Equipment, Vehicles, Furniture & Fixture, Office Equipment,
Computers & Peripherals and Trade Mark etc.
|
Name of the
company |
RAJASTHAN DRUGS & PHARMACEUTICALS
LIMITED |
||||||
|
Presented By |
Mr. R. K.
Vashistha, Managing Director |
||||||
|
1) Date and
description of instrument creating the change |
Instruments of: Hypothecation of
Goods Hypothecation of
Book Debts Hypothecation of
Machinery Dated 07.03.1995
Constituting a single charge. (Modified on 04.12.1996,
19.01.1999 and 26.03.2002.) |
||||||
|
2) Amount secured
by the charge/amount owing on the securities of charge |
Rs. 10.700
Millions ( Increased to Rs. 15.000 Millions on 04.12.1996, to Rs. 20.000
Millions on 19.01.1999, to Rs. 25.000 Millions on 26.03.2002. |
||||||
|
3) Short
particular of the property charged. If the property acquired is subject to
charge, date of the acquired of the property should be given |
All stock of Raw
material, stock in process, finished goods, packing material, book debts
present & future, all movables machinery including all stocks and spares both present &
future. |
||||||
|
4) Gist of the
terms and conditions and extent and operation of the charge. |
Interest @ 17.5%
p.a. Margin 25% Repayable on
Demand. |
||||||
|
5) Name and Address
and description of the person entitled to the charge. |
Bank of Baroda,
V. K. I. Area, Jaipur. |
||||||
|
6) Date and brief description of instrument
modifying the charge |
Supplemental
composite instrument of Hypothecation of goods, book debts, movable machinery
and vehicles and Supplemental
memorandum of entry (Company Properties), Both dated 03.01.2004. |
||||||
|
7) Particulars of
modifications specifying the terms and conditions or the extent of operations
of the charge in which modification is made and the details of the
modification. |
Cash Credit Limit
increased from Rs. 20.000 Millions (Fund Based) and Rs. 5.000 Millions (Non
Fund Based) to Rs. 30.000 Millions as Under:
And loans secured
for repayment by deposit of title deeds of land including buildings,
structures, etc. thereon Interest applicable is 1.5% over PLR. |
|
Name of the
company |
RAJASTHAN DRUGS & PHARMACEUTICALS
LIMITED |
||||||||
|
Presented By |
Mr. R. K.
Vashistha, Managing Director |
||||||||
|
1) Date and
description of instrument creating the change |
Instruments of: Hypothecation of
Goods Hypothecation of
Book Debts Hypothecation of
Machinery Dated 07.03.1995
Constituting a single charge. (Modified on
04.12.1996, 19.01.1999 and 26.03.2002.) |
||||||||
|
2) Amount secured
by the charge/amount owing on the securities of charge |
Rs. 10.700 Millions
(Increased to Rs. 15.000 Millions on 04.12.1996, to Rs. 20.000 Millions on
19.01.1999, to Rs. 25.000 Millions on 26.03.2002 to Rs. 30.000 Millions on
03.01.2004. |
||||||||
|
3) Short
particular of the property charged. If the property acquired is subject to
charge, date of the acquired of the property should be given |
All stock of Raw
material, stock in process, finished goods, packing material, book debts
present & future, all movables machinery including all stocks and spares
both present & future for working capital loans as under:
|
||||||||
|
4) Gist of the terms
and conditions and extent and operation of the charge. |
Interest @ 17.5%
p.a. Margin 25% Repayable on
Demand. |
||||||||
|
5) Name and
Address and description of the person entitled to the charge. |
Bank of Baroda,
V. K. I. Area, Jaipur. |
||||||||
|
6) Date and brief description of instrument
modifying the charge |
Agreement for
FCNR (B) (DL) dated 25.08.2004. |
||||||||
|
7) Particulars of
modifications specifying the terms and conditions or the extent of operations
of the charge in which modification is made and the details of the
modification. |
The Bank has
sanctioned FCNR (B) (DL) of US $ equivalent to INR 1Rs. 12.500 Millions with
in the overall WC limit including WC Demand Loan of Rs. 25.000 Millions
interest on FCNR (B) (DL) @ 3 months LIBOR plus 400bps payable on last
working day of each month. |
|
Name of the
company |
RAJASTHAN DRUGS & PHARMACEUTICALS
LIMITED |
|
Presented By |
Mr. R. K.
Vashistha, Managing Director |
|
1) Date and description
of instrument creating the change |
Supplemental
Composite instruments of hypothecation of Goods, Book Debts, movable
machinery and vehicles dated 09.02.2005 and supplemental memorandum of entry
dated 09.02.2005. |
|
2) Amount secured
by the charge/amount owing on the securities of charge |
Rs. 7.500
Millions |
|
3) Short
particular of the property charged. If the property acquired is subject to
charge, date of the acquired of the property should be given |
Stock of raw
material, stock in process, finished goods, consumable spares & packing
material, all the book debts present & future, all the movable machinery,
spare parts both present & future and all the vehicles, including
immovable properties of company. |
|
4) Gist of the
terms and conditions and extent and operation of the charge. |
|
|
5) Name and
Address and description of the person entitled to the charge. |
Bank of Baroda,
V. K. I. Area, Jaipur. |
|
6) Date and brief description of instrument
modifying the charge |
Not Applicable |
|
7) Particulars of
modifications specifying the terms and conditions or the extent of operations
of the charge in which modification is made and the details of the
modification. |
Not Applicable |
|
Name of the
company |
RAJASTHAN DRUGS & PHARMACEUTICALS
LIMITED |
||||||||
|
Presented By |
Mr. R. K.
Vashistha, Managing Director |
||||||||
|
1) Date and description
of instrument creating the change |
Instruments of: Hypothecation of
Goods Hypothecation of
Book Debts Hypothecation of
Machinery All Dated
07.03.1995 Constituting a single charge. (Modified on 04.12.1996,
19.01.1999 and 26.03.2002, 03.01.2004 and 25.08.2004.) |
||||||||
|
2) Amount secured
by the charge/amount owing on the securities of charge |
Rs. 10.700
Millions (Increased to Rs. 15.000 Millions on 04.12.1996, to Rs. 20.000
Millions on 19.01.1999, to Rs. 25.000 Millions on 26.03.2002 to Rs. 30.000
Millions on 03.01.2004. (Conversion of sub limit of Rs. 12.500 Millions as
FCNR (B) loan from 25.08.2004.) |
||||||||
|
3) Short
particular of the property charged. If the property acquired is subject to
charge, date of the acquired of the property should be given |
Stock of raw
material, stock in process, finished goods, consumable spares & packing
material, all the book debts present & future, all the movable machinery,
spare parts both present & future and all the vehicles, including
immovable properties of company. |
||||||||
|
4) Gist of the
terms and conditions and extent and operation of the charge. |
Interest @ 17.5%
p.a. Margin 25% Repayable on
Demand. |
||||||||
|
5) Name and Address
and description of the person entitled to the charge. |
Bank of Baroda,
V. K. I. Area, Jaipur. |
||||||||
|
6) Date and brief description of instrument
modifying the charge |
All the above
said Documents dated 27.01.2006. |
||||||||
|
7) Particulars of
modifications specifying the terms and conditions or the extent of operations
of the charge in which modification is made and the details of the
modification. |
Over limit of
loans increased from Rs. 30.000 Millions to Rs. 40.000 Millions
Interest and margin
as per First Schedule to the Hypothecation Agreement. |
AS PER WEBSITE DETAILS
Profile
Rajasthan Drugs
& Pharmaceuticals Limited, popularity known as RDPL (a Govt. of India Enterprises)
was incorporated in the year 1978. The commercial production commended in the
year 1981. Since then the Company has acquired capabilities, expertise and high
reputation to produce quality medicines. The workforce acquainted, itself, with
modern production techniques to deliver consecutively better results both
qualitatively and quantitatively. It has registered a phenomenal growth over
the period and especially during the last ten years when the turnover rose from
Rs. 89.400 Millions in 1994-95 to Rs 191.200 Millions in 2003-2004, and it also
paid consistently reasonable dividend. The Company growth , it has been
bestowed with an honour of MIN-RATNA by the Govt. of India.
Keeping pace with
the changing scenario, it has embarked upon a systematic and phased programme
of modernisation. It has created greater production capacities by induction
latest machinery, and experienced workforce under the strict supervision of
highly qualified technical personnel, the Company is poised to take a big leap forward.
It is well equipped to manufacture latest formulations requiring high technical
competence to meet the growing needs of domestic as well s foreign markets
The success of the
company is attributed to the sole Mantra- High Quality and reasonable prices.
The Quality Control Deptt. is equipped with sophisticated instruments i.e.
HPLC, FTIR, Spectrophotometer, Dissolution Apparatus, etc. Efforts are on to
completely revamp the operations and bring the manufacturing activity at par
with US FDA norms to meet the challenges of growing competition and to
make the Company a force to be reckoned with in the Global Pharmaceutical
Market.
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.42.82 |
|
UK Pound |
1 |
Rs.84.27 |
|
Euro |
1 |
Rs.66.62 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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. |
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 |
|