%20LIMITED%20-%20139123%2016-Apr-2011_files/image007.jpg){kind=small}
MIRA INFORM REPORT
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Report Date : |
16.04.2011 |
IDENTIFICATION DETAILS
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Name : |
COLGATE PALMOLIVE ( |
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Registered Office : |
Colgate Research Centre, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
23.09.1937 |
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Com. Reg. No.: |
11-002700 |
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CIN No.: [Company
Identification No.] |
L24200MH1937PLC002700 |
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TAN No.: [Tax
Deduction and Collection Account No.] |
MUMC00390F |
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Legal Form : |
Public Limited Liability Company. Company’s Shares are listed on the
Stock Exchange. |
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Line of Business : |
Manufacturing and selling of cosmetics and toilet preparations,
distilled fatty acid, toilet soap, glycerine, toothbrushes and shave brushes
and dicalcium phosphate. |
RATING & COMMENTS
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MIRA’s Rating : |
Aa (74) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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 |
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Maximum Credit Limit : |
USD 13044464 |
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Status : |
Excellent |
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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. Financials
position of the company appears to be sound. Fundamentals are strong and
healthy. Trade relations are reported as fair. Payments are reported to be
regular and as per commitments. The company can be considered good for any 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 |
INFORMATION PARTED BY
Note – Management non cooperative name not disclosed
LOCATIONS
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Registered Office : |
Colgate Research Centre, |
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Tel. No.: |
91-22-25705050 / 25705060 |
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Fax No.: |
91-22-25705088 |
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E-Mail : |
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Website : |
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Factory 1 : |
Plot No. B 14/10 MIDC, Waluj
Industrial Area, Aurangabad 431 136 , Maharashtra, India |
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Factory 2 : |
Plot No. 78, EPIP Phase I, Jharmajri, Baddi, District Solan – 174103, Himachal
Pradesh, India |
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Factory 3 : |
Plot Nos. 154, 158 and 160, Kundaim Industrial Estate, Kundaim – 403 115, Goa, India |
DIRECTORS
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Name : |
Mr. D. Samuel |
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Designation : |
Chairman |
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Name : |
Mr. R.A. Shah |
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Designation : |
Vice Chairman |
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Name : |
Mr. P.K. Ghosh |
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Designation : |
Deputy Chairman |
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Name : |
Mr. R.D. Calmeyer |
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Designation : |
Director |
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Name : |
Mr. M.A. Ellas |
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Designation : |
Director |
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Name : |
Mr. K.V. Vaidyanathan |
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Designation : |
Director |
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Name : |
Mr. J.K. Setna |
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Designation : |
Director |
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Name : |
V.S. Mehta |
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Designation : |
Director |
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Name : |
Mr. M. V. Deoras |
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Designation : |
Managing Director |
KEY EXECUTIVES
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Name : |
Mr. K.V. Vaidyanathan |
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Designation : |
Company Secretary |
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Management Committee: |
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Name : |
Mr. R.D. Calmeyer |
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Designation : |
Managing Director |
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Name : |
Mr. M.A. Ellas |
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Designation : |
Finance |
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Name : |
Mr. K.V. Vaidyanathan |
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Designation : |
Legal |
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Name : |
Mr. P. Parameswaran (Ms.) |
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Designation : |
Marketing |
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Name : |
Mr. S. Bharatwaj |
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Designation : |
Sales |
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Name : |
Mr. S. Manek |
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Designation : |
R and D |
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Name : |
Mr. L. Wheeler |
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Designation : |
Manufacturing and Supply Chain |
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Name : |
Mr. A. Singh |
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Designation : |
Human Resources |
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Audit Committee: |
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Name : |
Mr. R.A. Shah |
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Designation : |
Chairperson |
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Name : |
Mr. P.K. Ghosh |
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Designation : |
Chairperson |
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Name : |
Mr. J.K. Setna |
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Designation : |
Chairperson |
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Name : |
Mr. V.S. Mehta |
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Designation : |
Chairperson |
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Name : |
Mr. K.V.Vaidyanathan |
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Designation : |
Secretary |
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Shareholders’/Investors’ Grievance Committee: |
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Name : |
Mr. P.K. Ghosh |
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Designation : |
Chairperson |
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Name : |
Mr. R.D. Calmeyer |
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Designation : |
Chairperson |
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Name : |
Mr. J.K. Setna |
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Designation : |
Chairperson |
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Name : |
Mr. K.V.Vaidyanathan |
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Designation : |
Chairperson |
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Name : |
Crawford Bayley And Company Solicitors |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.12.2010
|
Names
of Shareholders |
No. of Shares |
Percentage of Holding |
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Shareholding
of Promoter Group |
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Foreign |
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Bodies Corporate |
69356336 |
51.00 |
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Public
shareholding |
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Institutions |
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Mutual
Funds / UTI |
1059076 |
0.79 |
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Financial
Institutions/Banks |
109813 |
0.08 |
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Insurance
Companies |
8390523 |
6.17 |
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Foreign
Institutional Investors |
23626420 |
17.37 |
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Non-Institutions |
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Bodies
Corporate |
3811247 |
2.80 |
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Individual
shareholders holding nominal share capital up to Rs.0.100 million. |
28662921 |
21.08 |
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Individual
shareholders holding nominal share capital in excess of Rs. 0.100 million. |
511591 |
0.38 |
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Any Other Specify |
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Overseas
Corporate Bodies |
3220 |
0.00 |
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Non-Resident Indians |
380575 |
0.28 |
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Trusts |
81095 |
0.06 |
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GROUND TOTAL |
135992817 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and selling of cosmetics and toilet preparations, distilled
fatty acid, toilet soap, glycerine, toothbrushes and shave brushes and
dicalcium phosphate. |
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Product: |
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PRODUCTION STATUS 31.03.2010
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Particulars |
|
Unit |
Installed
Capacity |
Actual
Production |
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Cosmetics and Toilet Preparation |
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M.T |
152688 |
92360 |
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Flavour |
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M.T |
4475 |
540 |
GENERAL INFORMATION
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No. of Employees : |
Not Divulged by the Management |
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Bankers : |
Not Available |
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Facilities : |
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Banking
Relations : |
---- |
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Auditors : |
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Name : |
Price Waterhouse Chartered Accountant |
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Ultimate Holding Company |
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Subsidiaries : |
Private Limited
effective April 1, 2008)
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Group Companies
where common control exists: |
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CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
1,37,00,00,000 |
Equity Shares |
Rs.1/- Each |
Rs. 1370.000 Millions |
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Issued, Subscribed and Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
13,59,92,817 |
Equity Shares |
Rs.1/- Each |
Rs. 135.993
Millions |
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Note: i) 5,44,76,910 shares are held by
Colgate Palmolive Company, USA, the Ultimate Holding Company
ii) 1,48,79,426 shares are held by Colgate – Palmolive (Asia) Private
Limited. Subsidiary of the Ultimate
Holding Company.
iii) 11,18,85,735 shares of Rs. 10 each (presently Rs. 1 each) were
allotted as fully paid Bonus shares by
capiltalisation of General Reserves and share Premium.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
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 |
135.993 |
135.993 |
135.993 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
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3] Reserves and Surplus |
3125.123 |
2026.964 |
1486.069 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
3261.116 |
2162.957 |
1622.062 |
|
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LOAN FUNDS |
|
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
45.875 |
46.875 |
46.875 |
|
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TOTAL BORROWING |
45.875 |
46.875 |
46.875 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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|
|
|
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TOTAL |
3306.991 |
2209.832 |
1668.937 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
2469.478 |
1739.280 |
1914.058 |
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Capital work-in-progress |
61.888 |
46.684 |
75.884 |
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INVESTMENT |
210.007 |
383.289 |
725.877 |
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DEFERREX TAX ASSETS |
179.003 |
176.882 |
278.272 |
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CURRENT ASSETS, LOANS and ADVANCES |
|
|
|
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Inventories |
1105.536
|
824.233 |
756.385 |
|
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Sundry Debtors |
97.688
|
111.345 |
91.855 |
|
|
Cash and Bank Balances |
3475.844
|
2511.433 |
1442.628 |
|
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Other Current Assets |
54.834
|
71.876 |
26.420 |
|
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Loans and Advances |
1167.443
|
1902.142 |
1699.567 |
|
Total
Current Assets |
5901.345
|
5421.029 |
4016.855 |
|
|
Less : CURRENT
LIABILITIES and PROVISIONS |
|
|
|
|
|
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Current Liabilities |
558.537
|
528.137 |
|
|
|
Sundry Creditors |
3708.006
|
3417.277 |
|
|
|
Provisions |
1248.187
|
1611.918 |
1872.666 |
|
Total
Current Liabilities |
5514.730
|
5557.332 |
5342.009 |
|
|
Net Current Assets |
386.615
|
(136.303) |
(1325.154) |
|
|
|
|
|
|
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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TOTAL |
3306.991 |
2209.832 |
1668.937 |
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%20LIMITED%20-%20139123%2016-Apr-2011_files/image003.gif){kind=small}
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
|
|
|
|
|
|
|
Income |
19624.592 |
16948.135 |
14733.790 |
|
|
|
Other Income |
984.572 |
1077.572 |
847.812 |
|
|
|
TOTAL |
20609.164 |
18025.707 |
15581.602 |
|
|
|
|
|
|
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Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
7768.429 |
7413.076 |
6327.765 |
|
|
|
Employee Costs |
1590.735 |
1434.065 |
1182.768 |
|
|
|
Other Expenses |
6026.336 |
5496.012 |
4952.129 |
|
|
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TOTAL |
15385.500 |
14343.153 |
12462.662 |
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|
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|
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
5223.664 |
3682.554 |
3118.940 |
|
|
|
|
|
|
|
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|
Less/ Add |
DEPRECIATION/
AMORTISATION |
375.679 |
229.489 |
198.449 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
4847.985 |
3453.065 |
2920.491 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
615.403 |
550.871 |
603.389 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
4232.582 |
2902.194 |
2317.102 |
|
|
|
|
|
|
|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
288.398 |
57.717 |
NA |
|
|
|
|
|
|
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|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
First Interim Dividend |
1087.943 |
1223.935 |
NA |
|
|
|
Second Interim Dividend |
951.950 |
815.957 |
NA |
|
|
|
Third Interim Dividend |
679.964 |
0.000 |
NA |
|
|
|
Dividend Tax |
458.367 |
341.402 |
NA |
|
|
|
Transfer to General Reserve |
423.258 |
290.219 |
NA |
|
|
BALANCE CARRIED
TO THE B/S |
919.498 |
288.398 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
597.129 |
358.223 |
245.037 |
|
|
|
Finished Goods |
75.802 |
34.203 |
55.060 |
|
|
|
Capital Goods |
150.362 |
17.497 |
65.190 |
|
|
|
Spares |
77.870 |
29.390 |
23.623 |
|
|
TOTAL IMPORTS |
901.163 |
439.313 |
388.910 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
31.12 |
21.34 |
17.04 |
|
QUARTERLY RESULTS
(UNAUDITED)
|
PARTICULARS |
30.06.2010 (Rs. In
Millions) |
30.09.2010 (Rs. In
Millions) |
31.12.2010 (Rs. In
Millions) |
|
|
1st
Quarter |
2nd
Quarter |
3rd Quarter |
|
Net Sales |
5497.200 |
5692.800 |
5766.400 |
|
Total Expenditure |
3898.100 |
4396.200 |
4835.900 |
|
PBIDT (Excl OI) |
1599.100 |
1296.600 |
930.500 |
|
Other Income |
53.900 |
81.100 |
92.400 |
|
Operating Profit |
1653.000 |
1377.700 |
1022.900 |
|
Interest |
3.400 |
6.100 |
19.000 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
|
PBDT |
1649.600 |
1371.600 |
1003.900 |
|
Depreciation |
79.400 |
84.000 |
91.100 |
|
Profit Before Tax |
1570.200 |
1287.600 |
912.800 |
|
Tax |
350.400 |
284.600 |
250.400 |
|
Provisions and Contingencies |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
1219.800 |
1003.000 |
662.400 |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
|
Other Adjustment |
0.000 |
0.000 |
0.000 |
|
Net Profit |
1219.800 |
1003.000 |
662.400 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
20.53
|
16.10 |
14.87 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
24.70
|
20.37 |
19.82 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
57.91
|
48.22 |
49.24 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
1.48
|
1.59 |
1.80 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.70
|
2.60 |
3.32 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.07
|
0.98 |
0.75 |
LOCAL AGENCY FURTHER INFORMATION
Sundry Creditors
Details:
|
Particulars |
31.03.2010 Rs.
in Millions |
31.03.2009 Rs.
in Millions |
31.03.2008 Rs.
in Millions |
|
Sundry Creditors |
|
|
|
|
Micro and Small Enterprises |
36.821 |
33.888 |
NA |
|
Others |
3671.185 |
3383.389 |
NA |
Business Performance
The Company’s strong performance continued in
2009-10 despite difficult economic conditions. In a year marked by volatile financial
and currency markets, the Company achieved a healthy doubledigit sales growth
during the year 2009-10. Sales for the year increased by 16 per cent at Rs.
19620.000 millions as against Rs. 16950.000 millions during the previous year.
The toothpaste business registered an impressive volume growth of 14 per cent
during the year. The profit after tax for the financial year 2009-10 grew by an
impressive 46 per cent to Rs. 4230.000 millions as against Rs. 2900.000
millions in the previous year.
The underlying performance can be gauged from
the following ratios:
|
|
2009-10 |
2008-09 |
|
Earnings per share (Rs.) |
31.1 |
21.3 |
|
Dividend per share (Rs.) |
20.0 |
15.0 |
|
Return on Capital Employed (%) |
156.9 |
155.0 |
During the year cash generation continued to be
very strong arising from significant improvements in the business performance,
efficiencies and cost savings across the organisation and a continued efficient
collection system. The Company managed investments prudently by deployment of
surplus funds after ensuring that such investments satisfy the Company’s
criteria of safety and liquidity.
The Company’s market shares are improving
steadily. These increases are driven by their strong focus on understanding their
consumers, working with dental professionals and with their retail customers.
The Company also continued to focus on driving innovation throughout all areas
of business, increasing effectiveness and efficiency everywhere and
strengthening the leadership competency of the team. The sharp focus on these
four clearly defined strategic initiatives helped your Company continue to
maintain its leadership position in the oral care market.
The Company is positioned well for the future on account of its financial strength, market leadership position, a proven business strategy that has helped the Company succeed in strong and weak economic environment and most importantly a dedicated and well-trained team of people working together to achieve the Company’s business goals.
Fixed Assets:
- Intangible Assets
- Goodwill and Trademarks
- Copyrights and Design
- Technical Know-how
- Tangible Assets
- Land-Leasehold
- Buildings
- Plant and Machinery
- Furniture and Equipment
- Vehicle
Press Release
Colgate and IDA celebrate
Guinness World Records™ achievement
Leading
actress Anushka Sharma joins the celebrations
New Delhi, January 18, 2011: Colgate-Palmolive (India) Limited, the market leader in oral care, in association with the Indian Dental Association (IDA) today flagged off celebrations for achieving the Guinness World Records™ for ‘maximum number of dental check-ups’ in a single day (multiple venues).
The Guinness World Records™ was created in November 2010 by providing dental check-ups to 66,322 children across multiple locations involving 33 schools in five cities across India.
The celebrations were kicked-off at Kalka Public School in New Delhi by attempting a hat-trick of Guinness World Records™. The third attempt to get maximum number of people to rinse with a mouthwash at the same time was yet another platform created by Colgate and IDA to communicate the importance of using mouthwash in one’s daily oral care routine. Mouthwash reaches hard-to-reach areas in the mouth and is the final step to complete oral hygiene. Colgate and IDA created a hat-trick of records in the oral care category by successfully accomplishing this attempt where around 1,000 school children rinsed simultaneously with a mouthwash.
Anushka Sharma, leading actress, was present at the event to cheer the participants and congratulate the Colgate and IDA teams for the relentless efforts in driving oral care awareness through Guinness World Records™ across the country.
Joining the celebrations, Anushka encouraged the students of Kalka Public School to give their best shot to achieve the milestone. Speaking on the occasion, she said, “Being part of Guinness World Records™ is such an exciting opportunity and I am extremely pleased to be present here today to witness this momentous occasion. When education is combined with fun activities, learning becomes so much easier and it stays with you for life. I congratulate Colgate and IDA for successfully creating Guinness World Records™ twice before and wish them the very best for today’s attempt. I am sure we are all set to achieve a hat-trick.”
She further added, “It is very important to inculcate basic oral care hygiene habits in children at a very early age as it goes a long way in influencing their friends and family. I am delighted to be part of what Colgate and IDA are trying to achieve through these world record attempts.”
Rajesh Krishnamurthy, VP Marketing, Colgate-Palmolive (India) Ltd, who was present at the event said, “As market leaders, we have always been at the forefront of creating oral care awareness. I am extremely delighted that Colgate and IDA have achieved two Guinness World Records™ and are here again today to achieve yet another one, thereby creating a unique platform to create awareness for good oral hygiene habits in the country. This tremendous feat would have been impossible without the support of IDA and the dental fraternity. I also want to thank the participants who have supported us in successfully achieving these milestone and look forward to their continued support in our journey towards creating oral care awareness in India.”
Dr. L. Krishna Prasad, President, the Indian Dental Association said, “Oral health awareness and hygiene is very important. The collaborative endeavour with Colgate is the first step towards attaining the goal of ‘zero tooth decay’ in the country.”
Dr. Ashok Dhoble, Hon. Secretary General, Indian Dental Association, said, “Time and again it has been seen that oral health is the most neglected aspect though it being extremely crucial from overall health perspective. We understand the importance of oral health and have carried out a lot of oral care awareness campaigns along with Colgate. We are extremely proud of all the achievements celebrated here today and to partner once again with Colgate in this Guinness World Records™ attempt.”
CMT REPORT (Corruption, Money Laundering and 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.44.52 |
|
|
1 |
Rs.72.71 |
|
Euro |
1 |
Rs.64.41 |
SCORE and RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
9 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
9 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
74 |
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.