MIRA INFORM REPORT
|
Report Date : |
08.04.2011 |
Note:
Correct name of the company is “PREMIER SOLAR
SYSTEMS PRIVATE LIMITED”.
IDENTIFICATION DETAILS
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Name : |
PREMIER SOLAR SYSTEMS PRIVATE LIMITED |
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Registered
Office : |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
03.04.1995 |
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Com. Reg. No.: |
01-019909 |
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CIN No.: [Company Identification
No.] |
U40106AP1995PTC019909 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturers a wide range of solar products namely mono / multi crystalline
Solar PV modules, Solar Lanterns, Solar Street Lights, Solar Water Pumps and
a host of other customized solar products. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (51) |
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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 513000 |
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Status : |
Good |
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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 fine track.
Financial position of the company appears to be sound. Trade relations are
fair. Business is active. Payments are reported to be regular and as per
commitments. The company can be considered normal for good 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) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
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Registered/ Corporate Office : |
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Tel. No.: |
91-40-27744415/ 27744416 |
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Fax No.: |
91-40-27744417 |
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E-Mail : |
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Website : |
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Factory : |
Survey No 53, Annaram Village, Jinaram Mandal, Opposite Dundigal Air Force
Academy, Medak District – 502 313, Andhra Pradesh. |
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Tel. No.: |
91-8458-275123/ 275099 |
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Fax No.: |
91-8458-275099 |
DIRECTORS
As on 25.09.2010
|
Name : |
Mr. Surender Pal Singh Saluja |
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Designation : |
Director |
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Address : |
C-27, Vikrampuri, Secunderabad - 500 003, |
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Date of Birth/Age : |
26.12.1946 |
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Date of Appointment : |
03.04.1995 |
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DIN No.: |
00664597 |
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Name : |
Mr. Chiranjeev Singh Saluja |
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Designation : |
Managing Director |
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Address : |
C-27, Vikrampuri, Secunderabad - 500 003, |
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Date of Birth/Age : |
17.09.1973 |
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Date of Appointment : |
01.04.1997 |
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DIN No.: |
00664638 |
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Name : |
Mr. Bipindeep Singh Saluja |
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Designation : |
Director |
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Address : |
C-27, Vikrampuri, Secunderabad - 500 003, |
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Date of Ceasing : |
03.08.2006 |
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DIN No.: |
00664773 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 25.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Surender Pal Singh Saluja |
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748100 |
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Chiranjeev Singh Saluja |
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1759500 |
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Manjeet Kaur Saluja |
|
99800 |
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Sunali Saluja |
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330000 |
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Jasveen Kaur |
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2000 |
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Anitha Kaur |
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5000 |
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Charandeep Singh |
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15000 |
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G.S. Monga |
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15000 |
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S.C. Wadhawan |
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200000 |
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Amritha Saluja |
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25000 |
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Kuldeep Singh |
|
60000 |
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Total |
|
3259400 |
As on 22.03.2011
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Names of Allottees |
|
No. of Shares |
|
Surender Pal Singh Saluja |
|
220000 |
|
Chiranjeev Singh Saluja |
|
330000 |
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Total |
|
550000 |
As on 25.09.2010
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Equity Share Breakup |
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Percentage of Holding |
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Category |
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Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers a wide range of solar products namely mono / multi
crystalline Solar PV modules, Solar Lanterns, Solar Street Lights, Solar
Water Pumps and a host of other customized solar products. |
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Products : |
• Solar PV Modules (5Wp to 230Wp) • Solar Lanterns • Solar Home Lighting Systems • Solar Street Lights • Stand-alone Solar Power Plants • Grid Interactive Solar Power Plants • Solar Wind Hybrid Systems • Solar LED Based systems for rural electrification • Solar Water Pumping Systems |
PRODUCTION STATUS (AS ON 31.03.2010)
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Particulars |
Unit |
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Installed
Capacity |
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Solar Lantern |
Nos. |
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25000 |
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Solar Street Light |
Nos. |
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3000 |
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Solar Emergency Lights |
Nos. |
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25000 |
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Solar Water Heater |
Nos. |
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|
200000LPD |
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Solar Home Lighting System |
Nos. |
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15000 |
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Particulars |
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Actual
Production |
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Solar Street Light |
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60 |
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Components and Modules |
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Solar Water Heater |
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|
9750 |
GENERAL INFORMATION
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No. of Employees : |
80 (Approximately) |
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Bankers : |
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Facilities : |
Loan from IREDA: 1. IREDA sanctioned and disbursed the Loan Cum Subsidy under the National Project on SPV water pumping system for agriculture and related uses for the year 2001-2002 and 2002-2003 subject to a number of conditions interalia. a) The company has furnished a Bank Guarantee from State
Bank of b) Complying of conditions and furnishing of documents necessary for disbursement as well as repayment of installments. c) That IREDA shall have the right to review/revoke the sanction and to recall the loans. d) In case borrower company decided to give pumps on lease basis to the end users for such period than agreed period of 9 years and the same will have to be co-terminus/ will have common security with the expiry period of lease. f) The Loan is subject to such stipulation by IREDA and Ministry of Non Conventional Energy Source (MNES) Government of India from time to time and the company shall abide by the same g) The loan has been guaranteed by two Directors of the
company and secured by the leased assets being common security located in
states of |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Padmanabha Rao and Company Chartered Accountants |
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Address : |
G-5, Jamuna Sadan, Mayuri Marg Begumpet, |
CAPITAL STRUCTURE
After 25.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 millions |
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|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3809400 |
Equity Shares |
Rs.10/- each |
Rs.38.094
millions |
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As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3259400 |
Equity Shares |
Rs.10/- each |
Rs.32.594
millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
32.594 |
32.594 |
32.594 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
95.626 |
60.756 |
22.291 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
128.220 |
93.350 |
54.885 |
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LOAN FUNDS |
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1] Secured Loans |
23.569 |
44.919 |
25.832 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
23.569 |
44.919 |
25.832 |
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DEFERRED TAX LIABILITIES |
6.807 |
5.753 |
3.335 |
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TOTAL |
158.596 |
144.022 |
84.052 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
51.577 |
36.453 |
22.918 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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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 |
62.920
|
33.991 |
34.103 |
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Sundry Debtors |
52.717
|
54.523 |
35.574 |
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Cash & Bank Balances |
9.559
|
5.795 |
4.931 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
|
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Loans & Advances |
52.200
|
45.510 |
38.856 |
|
Total
Current Assets |
177.396
|
139.819 |
113.464 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
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|
Sundry Creditors |
32.475
|
18.854 |
39.082 |
|
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Other Current Liabilities |
37.902
|
12.976 |
12.952 |
|
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Provisions |
0.000
|
0.420 |
0.296 |
|
Total
Current Liabilities |
70.377
|
32.250 |
52.330 |
|
|
Net Current Assets |
107.019
|
107.569 |
61.134 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
158.596 |
144.022 |
84.052 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
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Income |
492.069 |
478.918 |
332.762 |
|
|
|
Other Income |
1.337 |
2.805 |
1.044 |
|
|
|
TOTAL (A) |
493.406 |
481.723 |
333.806 |
|
|
|
|
|
|
|
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Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption of raw material |
351.868 |
381.587 |
267.747 |
|
|
|
Expenditure on Employees |
8.335 |
6.406 |
3.585 |
|
|
|
Directors Remuneration |
1.620 |
1.200 |
1.200 |
|
|
|
Payments to Auditors |
0.055 |
0.056 |
0.050 |
|
|
|
Insurance Expenses |
0.306 |
0.319 |
0.199 |
|
|
|
Power and Fuel |
2.647 |
2.027 |
1.558 |
|
|
|
Manufacturing Expenses |
42.379 |
13.388 |
16.781 |
|
|
|
Selling Expenses |
15.644 |
11.006 |
10.256 |
|
|
|
Administrative Expenses |
11.636 |
7.484 |
5.015 |
|
|
|
TOTAL (B) |
434.490 |
423.473 |
306.391 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
58.916 |
58.250 |
27.415 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
8.114 |
7.530 |
4.551 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
50.802 |
50.720 |
22.864 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
5.819 |
4.362 |
2.773 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
44.983 |
46.358 |
20.091 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
10.113 |
7.893 |
4.376 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
34.870 |
38.465 |
15.715 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
60.756 |
22.291 |
21.371 |
|
|
|
|
|
|
|
|
|
Less |
Capitalization
of Reserves by issue of Bonus Shares |
-- |
-- |
14.795 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
95.626 |
60.756 |
22.291 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
350.646 |
362.451 |
193.591 |
|
|
TOTAL EARNINGS |
350.646 |
362.451 |
193.591 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
10.70 |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
7.07
|
7.98 |
4.71 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
9.14
|
9.68 |
6.04 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
19.65
|
26.30 |
14.73 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.35
|
0.50 |
0.37 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.73
|
0.83 |
1.42 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.52
|
4.34 |
2.17 |
LOCAL AGENCY FURTHER INFORMATION
Note:
The registered office of the company has been shifted from Plot No.36, 1st Floor, S.V. Reddy Complex, Tadbund X Roads, Secunderabad – 500 009, Andhra Pradesh to the present address w.e.f. 18.02.2008.
FORM 8:
|
Corporate
identity number of the company |
U40106AP1995PTC019909 |
|
Name of the
company |
PREMIER SOLAR SYSTEMS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
E-Mail: accounts@premiersolarsystems.com |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
80005816 |
|
Type of charge |
Immovable
Property Book Debts Movable Property |
|
Particular of
charge holder |
State Bank of E-Mail: hyd_balanagar@sbhyd.co.in |
|
Nature of description
of the instrument creating or modifying the charge |
1. Agreement of
Loan for Overall Limit dated 29.01.2010. 2. Agreement of
Hypothecation of Goods and Assets dated 29.01.2010 3.Deed of
Guarantee for Overall Limit dated 29.01.2010 4. Letter regarding
the Grant of Individual Limits within the Overall Limit dated 29.01.2010. 5. Letters from
Non Corporate Borrowers confirming the deposit of title deeds for extension
of the existing Mortgage dated 29.01.2010 (2Nos). 6.Sanction Letter 7.Board Resolution |
|
Date of
instrument Creating the charge |
29/01/2010 |
|
Amount secured by
the charge |
Rs.540.322
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: CC
(Hypothecation) 11.75% (0.50% below PLR floating) CC (PC) 9.50%
(2.75% below PLR floating) Term Loan 11.75%
(0.50% below PLR floating) Terms of
Repayment: Term Loan
repayable in 60 EMI of Rs.0.168 million plus interest as and when debited WEF
May 2008. Margin: On Letter of
Credit @ 15% Bank guarantee @
15% Raw Material @
25% Stock in process
@ 25% Finished Goods @
25% Stores, spares
and Inland Doc. of Title to goods @ 25% Book
debts/receivables @ 50% Extent and
Operation of the charge: This charge operates
as a security for due repayment of the facilities provided. |
|
Short particulars
of the property charged |
Primary Security:
Hypothecation of Stocks, Receivables, and Stocks meant for exports and
lodgment of LCs and All Current Assets of the Company. Collateral
Security: 1.S.No731, undivided share of 70Sq.Yds out of 280 Sq.Yds in the
plinth area of 1725 S.fts part of shed 6-27/41, P.No41,I Floor, SVCIE, Phase
II, Balanagar, 2. S.No731,
undivided share of 210Sq.Yds out of 280 Sq.Yds in the plinth area of 1725
S.fts part of shed 6-27/41, P.No41, I Floor, SVCIE, Phase II, Balanagar, 3. S.No731, 552
Sq.Yds of 652 Sq.Yds part shed No. 6-27/41, P.No41(p),SVCIE, Phase II,
Kukatpally, Hyderabad in the name of Surendedr Pal Singh Saluja and Bipin
Deep Singh Saluja. 4. S.No.731,
100S.yds out of 652 S.Yds part shed No. 6-27/41, P.No41(p),SVCIE, Phase II,
Kukatpally, 5. Land and
building at 6. Land
admeasuring 2Acs 23 Gts in S.No53, |
|
Particulars of
the present modification |
Total Limits
enhanced from Rs.66.400 millions to 540.322 millions. The revised
limits are as follows: 1.Cash
Credit (Hypothecation) - Rs.12.500
millions 2.Cash Credit
(PC) - Rs.20.000 millions 3.FDBP/FUBD/IUBD
- Rs.13.500 millions 4.Letter of
Credit - Rs.20.000 millions 5.Bank Guarantee
- Rs.20.000 millions 6.Term Loan -
Rs.10.100 millions (Present outstanding Rs.7.055 millions) 7.Forward
Contract - Rs.430.000 millions 8. One Time BG -
Rs.14.222 millions |
CONTINGENT
LIABILITIES: (As on 31.03.2010)
Outstanding Bank Guarantees/ Letters of Credit issued by State Bank of
·
Bank Guarantees – Rs.12.281 millions
·
Letters of Credit – Rs.34.082 millions
FIXED ASSETS:
·
Land
·
Building
·
Building Construction
·
Plant and Machinery
·
Testing Equipment
·
Furniture and Fixtures
·
Tools
·
Jigs and Fixtures
·
Electrical Equipment and Installation
·
Erection
·
Office Equipment
·
Motors Cars
·
Vehicles (Two Wheeler)
·
Computer
·
Dies and Tools
·
Equipment (on lease)
·
Cell Phone
·
Office Appliance
·
Motor Bus
WEBSITE DETAILS:
PROFILE:
Subject, a part of the well-diversified group, commenced operations in year 1995. The company is promoted by Technocrats with wide experience in Industry. The company manufacturers a wide range of solar products namely mono / multi crystalline Solar PV modules, Solar Lanterns, Solar Street Lights, Solar Water Pumps and a host of other customized solar products. The manufacturing unit is equipped with state of art facilities backed by strong R and D cell and testing lab to produce affordable custom designed SPV products. The company has all facilities to manufacture and test the products under one roof.
·
Mr. S. P Singh, Chairman of the company is an
Engineering Graduate. He is an energy expert who has been involved with both
Conventional and Non-Conventional Power Projects. Mr. S.P Singh has a versatile
industrial background with over 37 years of experience. He is the main promoter
of the company.
· Mr. C. Saluja an engineering Graduate is the Managing Director. As Managing Director of M/s Subject, he overseas all day-to-day operations. He has an experience of 15 years in the renewable energy industry.
Premier Solar has focused its activities in Solar PV, using crystalline
silicon solar cells for generation of electricity / rural electrification apart
from Crystalline Premier Solar also is offering Thin Film Framed Solar Panels
in Technical Collaboration with a German Partner
At present they procure solar cells and produce solar PV modules at the
state-of-the-art manufacturing facility.
THE
INFRASTRUCTURE AND QUALITY ASSURANCE AND CONTROL
Premier Solar has installed the latest semi automated production line
for solar PV modules, having acquired the state of-the art machines from
World’s best and well known suppliers. This, together with well trained
personnel engaged with singular dedication in quality assurance checks at every
stage and also after final assembly ensures consistent quality of the products
in consonance with the quality policy and the after sales warranty.
THE TECHNICAL CAPABILITIES
· Solar module line of international standards with high conversion efficiency at low cost.
· Optimized processing methods resulting in high yields.
· Technology transfers and project assistance conduct technical audits to improve cell and module line efficiencies and yields.
· All India Manufacturers’ Association (APSB) award for Best Export Performance, 2007
· FAPCCI award for Outstanding Export Performance (SSI), 2007
· National Award for Outstanding Entrepreneurship in MSMEs, 2007:-
· Corps Excel MSME Excellence Award, 2008-09
·
·
Best Employer Award from the President of
·
Udyog Bharti and Udyog Patra awards from the
Vice President of India
· Registered with MNES as OEM manufacturer of solar products.
·
Ministry of New and Renewable Energy,
·
Dte Gen of Supplies and Disposals, Government of
·
Research, Development and Standards
Organization, Ministry of Railways, Government of
CERTIFICATION
·
IEC 61215 Ed 2 European Commission,
· Certificate for IEC 61215 Solar Modules
· Certificate from SEC for Solar Modules and other products.
· Certificate from ETDC for Solar Panels
· Certificate from ERTL for Home Lighting Systems
· Certificate from CPRI for Solar Lanterns/ Home Lighting Systems
· Certificate from MNES/ IREDA for Solar Water Pumping System
· Solar energy center, MNRE, Government of India
·
Central Power Research Institute,
·
Electronics Testing and
·
Electronics Research and Testing Laboratory, MNRE,
Government of
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.44.22 |
|
|
1 |
Rs.71.97 |
|
Euro |
1 |
Rs.63.23 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
51 |
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.