MIRA
INFORM REPORT
|
Report Date : |
07.08.2010 |
IDENTIFICATION DETAILS
|
Name : |
ANGELIQUE INTERNATIONAL LIMITED |
|
|
|
|
Registered
Office : |
104-107, |
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Country : |
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|
|
|
|
Financials (as
on) : |
31.03.2009 |
|
|
|
|
Date of
Incorporation : |
03.01.1996 |
|
|
|
|
Com. Reg. No.: |
55-075132 |
|
|
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|
CIN No.: [Company Identification
No.] |
U18109DL1996PLC075132 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELA04434D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCA4675N |
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|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Project Engineering, Procurement and Construction Company in Power, Health,
Railways, Education, Agriculture, Oil and Gas, Road Construction, Mining and
Drilling Industries. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 5237000 |
|
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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 an established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to
be regular and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered/ Head Office : |
104-107, |
|
Tel. No.: |
91-11-26413873 to 75/ 26415683 to 85 |
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Fax No.: |
91-11-26413876/ 26292042 |
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E-Mail : |
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Website : |
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Overseas Office : |
Located at:
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DIRECTORS
|
Name : |
Mr. Daya Krishna Goyal |
|
Designation : |
Chairman |
|
Address : |
D-1086, New Friends Colony, |
|
Date of Birth/Age : |
04/08/1939 |
|
Date of Appointment : |
03/01/1996 |
|
E-Mail : |
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|
Name : |
Mr. Ajay Krishna Goyal |
|
Designation : |
President and Managing Director |
|
Address : |
D-1086, New Friends Colony, |
|
Date of Birth/Age : |
03/07/1968 |
|
Date of Appointment : |
03/01/1996 |
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E-Mail : |
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|
Name : |
Mr. Mohinder Pratap Gupta |
|
Designation : |
Joint President and Director |
|
Address : |
J-14, |
|
Date of Birth/Age : |
21/10/1954 |
|
Date of Appointment : |
01/05/2001 |
|
E-Mail : |
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|
Name : |
Mr. Sanjay Krishna Goyal |
|
Designation : |
Director |
|
Address : |
D-1086, New Friends Colony, |
|
Date of Birth/Age : |
17/08/1969 |
|
Date of Appointment : |
03/01/1996 |
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|
|
|
Name : |
Mr. M Ravindra |
|
Designation : |
Director |
|
Address : |
1-B, P G P
Manor, 29, |
|
Date of Birth/Age : |
08/12/1939 |
|
Date of Appointment : |
28/03/2007 (Regularised w.e.f. 15.06.2007) |
|
|
|
|
Name : |
Rear Admiral (Retd.) J. J. Baxi |
|
Designation : |
Director |
|
Address : |
562, F, 4th
Floor, Premier Villa, New |
|
Date of Birth/Age : |
30/10/1938 |
|
Date of Appointment : |
28/03/2007 (Regularised w.e.f. 15.06.2007) |
|
|
|
|
Name : |
Major Gen. (Retd.) Ashok Kalyan Verma |
|
Designation : |
Director |
|
Address : |
1322, Sector 37, Arun Vihar, Noida – 201 301, |
|
Date of Birth/Age : |
21/10/1935 |
|
Date of Appointment : |
24/04/2004 |
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|
|
|
Name : |
Mrs. Premila Goyal |
|
Designation : |
Director |
|
Address : |
D-1086, New Friends Colony, |
|
Date of Birth/Age : |
12/07/1944 |
|
Date of Appointment : |
03/01/1996 |
|
|
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|
Name : |
Mr. Sita Ram Agarwal |
|
Designation : |
Director |
|
Address : |
C-1/101, Kamal
Apartments, Near Ram Mandir, |
|
Date of Birth/Age : |
29/12/1934 |
|
Date of Appointment : |
01/05/2001 |
|
|
|
|
Name : |
Horst Dr. Eckert |
|
Designation : |
Director |
|
Address : |
PlatanenstraBe 103-D -13156, |
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Date of Birth/Age : |
25/10/1942 |
|
Date of Appointment : |
14/08/2008 |
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|
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|
Name : |
Mr. Pankaj Goyal |
|
Designation : |
Director |
|
Address : |
F-7, Sarita Vihar, New Delhi-110 076, |
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Date of Birth/Age : |
18/09/1957 |
|
Date of Appointment : |
01/05/2006 |
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|
|
|
Name : |
Mr. Rajendra Prasad Gupta |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. V. K. Singal |
|
Designation : |
HRD Head |
|
E-Mail : |
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|
|
|
Name : |
Mr. Pankaj Goyal |
|
Designation : |
CFO and Company Secretary |
|
Address : |
F-7, Sarita Vihar, New Delhi-110 076, |
|
Date of Birth/Age : |
18/09/1957 |
|
E-Mail : |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2009
|
Names of Shareholders |
|
No. of Shares |
|
Daya Krishna Goyal |
|
1886000 |
|
Premila Goyal |
|
1840000 |
|
Ajay Krishna Goyal |
|
3210388 |
|
Sanjay Krishna Goyal |
|
3200000 |
|
Charu Goyal |
|
481604 |
|
Jaishree Goyal |
|
480046 |
|
Dhruv Krishna Goyal |
|
1184100 |
|
Anand Krishna Goyal |
|
23000 |
|
Anya Goyal |
|
23000 |
|
Anjali K Goel |
|
123725 |
|
Mohinder Pratap Gupta |
|
26000 |
|
Girish Prasad Mathur |
|
21400 |
|
Vipul Jain |
|
16800 |
|
Pradeep Kumar Arya |
|
16800 |
|
Lakhbir Singh |
|
10950 |
|
Pankaj Goyal |
|
10000 |
|
Vinay Kathuria |
|
1250 |
|
Anil Kumar Narula |
|
1200 |
As on 30.09.2009
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
97.81 |
|
Other
top fifty shareholders |
|
1.93 |
|
Others
|
|
0.26 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Project Engineering, Procurement and Construction Company in Power,
Health, Railways, Education, Agriculture, Oil and Gas, Road Construction,
Mining and Drilling Industries. |
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|
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GENERAL INFORMATION
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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|
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Auditors : |
|
|
Name : |
Anil Maheshwari and Company Chartered Accountants |
|
Address : |
G – 66/ 2, Gautam Nagar, |
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Tel. No.: |
91-11-26852318 |
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Tele. Fax No.: |
91-11-26533613 |
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Associates : |
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Subsidiaries : |
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CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs.150.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
12756663 |
Equity Shares |
Rs.10/- each |
Rs.127.567
millions |
|
|
|
|
|
Of the above 8,100,900 Equity Shares were
issued as fully paid bonus shares in 2004-05 by capitalization of Share Premium
reserve General reserve and Profit and Loss account.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
127.567 |
127.567 |
124.635 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1181.752 |
879.534 |
560.802 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1309.319 |
1007.101 |
685.437 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
838.179 |
689.357 |
477.067 |
|
|
2] Unsecured Loans |
2.440 |
9.702 |
0.000 |
|
|
TOTAL BORROWING |
840.619 |
699.059 |
477.067 |
|
|
DEFERRED TAX LIABILITIES |
4.525 |
4.785 |
3.160 |
|
|
|
|
|
|
|
|
TOTAL |
2154.463 |
1710.945 |
1165.664 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
306.416 |
84.630 |
69.765 |
|
|
Capital work-in-progress |
170.849 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
66.098 |
72.629 |
212.757 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
318.779
|
41.565 |
59.249 |
|
|
Sundry Debtors |
3110.371
|
2648.384 |
942.119 |
|
|
Cash & Bank Balances |
974.858
|
994.733 |
639.467 |
|
|
Other Current Assets |
40.491
|
55.008 |
25.140 |
|
|
Loans & Advances |
1130.134
|
791.408 |
462.868 |
|
Total
Current Assets |
5574.633
|
4531.098 |
2128.843 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
1266.424 |
319.540 |
|
|
Other Current Liabilities |
|
1147.105 |
601.344 |
|
|
Provisions |
798.031
|
564.370 |
325.395 |
|
Total
Current Liabilities |
3963.940
|
2977.899 |
1246.279 |
|
|
Net Current Assets |
1610.693
|
1553.199 |
882.564 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.407 |
0.487 |
0.578 |
|
|
|
|
|
|
|
|
TOTAL |
2154.463 |
1710.945 |
1165.664 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
6212.951 |
6074.848 |
5007.893 |
|
|
|
Other Income |
185.845 |
217.541 |
65.897 |
|
|
|
TOTAL (A) |
6398.796 |
6292.389 |
5073.790 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases |
3272.256 |
3706.218 |
2747.205 |
|
|
|
Civil Construction Expenses |
557.334 |
366.515 |
162.079 |
|
|
|
Personnel Expenses |
273.456 |
199.881 |
111.089 |
|
|
|
Administrative Expenses |
343.806 |
172.838 |
155.654 |
|
|
|
Selling Expenses |
1264.999 |
1092.879 |
1048.225 |
|
|
|
Preliminary Expenses written off |
0.081 |
0.091 |
0.091 |
|
|
|
Increase/ Decrease in stock |
(277.214) |
17.684 |
(48.987) |
|
|
|
TOTAL (B) |
5434.718 |
5556.106 |
4175.356 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
964.078 |
736.283 |
898.434 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
342.582 |
117.083 |
56.149 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
621.496 |
619.200 |
842.285 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
10.778 |
8.170 |
4.364 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
610.718 |
611.030 |
837.921 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
196.440 |
230.351 |
299.185 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
414.278 |
380.679 |
538.736 |
|
|
|
|
|
|
|
|
|
|
Exceptional and
prior period items |
(52.361) |
-- |
-- |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
626.882 |
420.165 |
37.657 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
General Reserve |
100.000 |
100.000 |
100.000 |
|
|
|
Interim Dividend |
-- |
37.704 |
49.313 |
|
|
|
Income Tax on Interim Dividend |
-- |
6.408 |
6.916 |
|
|
|
Proposed Dividend |
51.027 |
25.514 |
-- |
|
|
|
Income Tax on Proposed Dividend |
8.672 |
4.336 |
-- |
|
|
BALANCE CARRIED
TO THE B/S |
829.100 |
626.882 |
420.164
|
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
F.O.B. value of Direct Export |
4806.451 |
4299.941 |
NA |
|
|
TOTAL EARNINGS |
4806.451 |
9106.392 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Trading Goods |
424.909 |
342.741 |
NA |
|
|
|
Consumables and Others |
33.222 |
0.000 |
NA |
|
|
TOTAL IMPORTS |
458.131 |
342.741 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
28.37 |
30.40 |
46.05 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
PAT / Total Income |
(%) |
6.47
|
6.05 |
10.62 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
9.83
|
10.06 |
16.73 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.38
|
13.24 |
38.11 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.47
|
0.61 |
1.22 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.67
|
3.65 |
3.80 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.41
|
1.52 |
1.71 |
LOCAL AGENCY FURTHER INFORMATION
OPERATIONS
The year has seen marginal growth in terms of revenue growth to
Rs.6398.800 millions against Rs.6292.390 Millions in the previous year. Profit
Before Tax and exceptional items is Rs.610.720 millions against Rs.611.030
millions during previous year, Profit After Tax and exceptional items stands at
Rs.361.920 millions against Rs.380.680 Millions in the previous year.
The profitability during the year has been adversely impacted mainly by
exceptional items which the company has decided to recognize based upon the
expert opinion and in compliance of applicable Accounting Standard.
Profitability has received some set back due to highly volatile foreign
exchange market also. On operating level the profitability of the Company
continues to be rewarding.
INTERNATIONAL
OPERATIONS
The Company continues to extend its foot prints in several developing
economies in Africa, Middle East and South East and
The major revenue driver, in terms of areas of operations, in
international operations has been power sector with 46% contribution as against
36% in the previous year. The management is confident that, with the growing
thrust on the energy iii all developing economies, power sector, both in
generation, transmission and distribution, will continue to form single largest
turnover component.
Company’s highly diversified and sophisticated information technology
based, project engineering and management capabilities are being increasingly
recognized in its markets. This phenomenon re-enforces the strength of the
Company for high growth potential for future.
DOMESTIC
OPERATIONS
Though the response to the efforts in the infrastructure space in India
have been quite encouraging, yet in view of the adverse payment terms and other
operational issues the company plans to work on very selective basis. At
present Company’s core activity of infrastructure division in
|
Corporate
identity number of the company |
U18109DL1996PLC075132 |
|
Name of the
company |
ANGELIQUE INTERNATIONAL LIMITED |
|
Address of the
registered office or of the principal place of business in |
104-107, E-Mail: anglind@vsnl.com |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10163415 |
|
Type of charge |
Immovable property Any interest in immovable property Book debts Movable property (not being pledge) Others (Pari Passu Charge) |
|
Particular of charge
holder |
State Bank of
India, Overseas Branch, Jawahar Vyapar Bhawan, 1, Tolstoy Marg, New Delhi –
110 001, India E-Mail: sbi.04803@sbi.co.in |
|
Date of
instrument Creating the charge |
19/04/2010 |
|
Amount secured by
the charge |
Rs.5500.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: As stated in
Consortium Agreement read with Bankers' respective Sanction Letters. Terms of
Repayment: As stated in
Consortium Agreement read with Bankers' respective Sanction Letters. Margin: As stated in
Consortium Agreement read with Bankers' respective Sanction Letters. Extent and
Operation of the charge: The overall limits
granted by Consortium of Banks consisting of State Bank of India, the Lead
Banker, and Axis Bank Limited, Central Bank of India, Punjab National Bank,
ICICI Bank Limited, IndusInd Bank Limited, Standard Chartered Bank and
Barclays Bank PLC are increased from Rs.4250.000 millions to Rs.5500.000
millions consisting of Fund based facilities of Rs.850.000 millions and Non
Fund based facilities of Rs.4650.000 millions on pari passu basis. The
details are given in respective sanction letters. |
|
Short particulars
of the property charged |
Hypothecation/
Mortgage/ Pledge/ Personal Guarantees |
|
Date of latest
modification prior to the present modification |
02/06/2009 |
|
Particulars of
the present modification |
1. Joint deed of Hypothecation
dated 19th April, 2010 for the enhancement of the Total Limit of Working
Capital Facilities granted under consortium from Rs.4250.000 millions to
Rs.5500.000 millions. 2. Extension of
1st Pari Passu charge by way of Equitable Mortgage of Borrower's Property at
601, Block D, Sterling Residency, RMV IV (Dollar Colony), Bangalore and 3. Creation of
2nd Pari passu Charge by way of equitable mortgage of Borrower's property at
Plot No. 12, Sector 125, Noida |
BALANCE SHEET
ANGELIQUE INTERNATIONAL
PTE LIMITED
(Subsidiary
Company)
|
|
31.03.2009 |
31.03.2008 |
|
|
S $ |
S $ |
|
Assets less liabilities |
|
|
|
|
|
|
|
Current assets |
|
|
|
Trade receivable |
2175542 |
1543194 |
|
Other receivables |
148474 |
343279 |
|
Cash and cash equivalents |
78180 |
41621 |
|
|
2402196 |
1928094 |
|
|
|
|
|
Less: Current liabilities |
|
|
|
Trade payables and accruals |
2015605 |
1499191 |
|
Other payables |
168287 |
376526 |
|
Income tax payable |
8700 |
3500 |
|
|
2192592 |
1879217 |
|
|
|
|
|
Net current assets |
209604 |
48877 |
|
|
|
|
|
Net assets |
209604 |
48877 |
|
|
|
|
|
Capital and reserve |
|
|
|
|
|
|
|
Share capital |
15000 |
10000 |
|
Accumulated profits |
194604 |
38877 |
|
|
|
|
|
Total equity |
209604 |
48877 |
FIXED ASSETS:
- Office Premises
- Plant and Machinery
- Furniture and Fixtures
- Office Equipments
- Computers
- Vehicles
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 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.45.58 |
|
|
1 |
Rs.67.05 |
|
Euro |
1 |
Rs.57.81 |
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 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--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 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.