MIRA
INFORM REPORT
|
Report Date : |
06.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
AVI-OIL INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
608, Surya Kiran Building, 19, Kasturba Gandhi Marg, New Delhi-110001,
Delhi |
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|
Country : |
India |
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|
Financials (as
on) : |
31.03.2010 |
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|
Date of
Incorporation : |
04.11.1993 |
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|
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Com. Reg. No.: |
55-190652 |
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Capital
Investment / Paid-up Capital : |
Rs. 180.000 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U23201DL1993PTC190652 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
Line of Business
: |
Manufacturer, Importer and Exporter of Aviation
lubricants ,industrial oil, aviation lubricants |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1300000 |
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|
|
|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a Joint Venture between Indian Oil Corporation,
Balmer-Lawrie and Company Limited and NYCO S. A., France. It is an established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to
be usually correct 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 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
608, Surya Kiran Building, 19, Kasturba Gandhi Marg, New Delhi-110001,
Delhi, India |
|
Tel. No.: |
91-11-23730607 / 23730608 / 23730609 |
|
Fax No.: |
91-11-23357671 / 23731226 |
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E-Mail : |
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|
Website : |
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Factory : |
Village piyala, Post Asaoti, District Faridabad-121102, Haryana, India |
|
Tel. No.: |
91-129-2205701 / 2205702 / 2205703 |
|
Fax No.: |
91-129-2205704 |
|
E-Mail : |
DIRECTORS
AS ON 06.09.2010
|
Name : |
Mr. Pierre Lafage |
|
Designation : |
Chairman |
|
Address : |
Rue Tronchet, 2-75008, Paris, France |
|
Date of Birth/Age : |
28.11-1931 |
|
Date of Appointment : |
04.11.1993 |
|
DIN No : |
00185486 |
|
|
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|
Name : |
Mr. Darius Cavasji Shroff |
|
Designation : |
Director |
|
Address : |
Moonlight, Flat No-8, 158, M. Larve Road, Mumbai-400020, Maharashtra,
India |
|
Date of Birth/Age : |
08.08.1944 |
|
Date of Appointment : |
06.08.1996 |
|
DIN No : |
00170680 |
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|
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|
Name : |
Mr. V. Narayan Sharma |
|
Designation : |
Director |
|
Address : |
Flat No-1, 9, Queens Park, Kolkata-700019, West Bengal, India |
|
Date of Birth/Age : |
04.07.1952 |
|
Date of Appointment : |
19.06.2006 |
|
DIN No : |
00011099 |
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|
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|
Name : |
Mr. Ravinder Sareen |
|
Designation : |
Director |
|
Address : |
Flat No.502, Bajaj Diamond, 2, Union Park, Khar (West), Mumbai-400052,
Maharashtra, India |
|
Date of Birth/Age : |
14.03.1954 |
|
Date of Appointment : |
23.08.2007 |
|
DIN No : |
01762749 |
KEY EXECUTIVES
|
Name : |
Mr. Jagjit Rai Nanda |
|
Designation : |
Manager |
|
Address : |
B-4/114, 2nd Floor, Safdrjuns Enclave, New Delhi-110029,
Delhi, India |
|
Date of Birth/Age : |
19.06.1944 |
|
Date of Appointment : |
28.09.1998 |
|
Election ID No.: |
DL02009021578 |
|
PAN No.: |
AAAPN0367R |
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|
|
|
Name : |
Ms. Monika Garg |
|
Designation : |
Secretary |
|
Address : |
D-69, Ground Floor, Sector-30, Noida-201303, Uttar Pradesh, India |
|
Date of Birth/Age : |
09.12.1973 |
|
Date of Appointment : |
24.05.1999 |
|
PAN No.: |
AEGPK9566H |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 06.09.2010
|
Names of Shareholders |
No. of Shares |
|
Balmer Lawrie and Company Limited, India |
4500000 |
|
Neden B. V. The Netherland |
9000000 |
|
Indian Oil Corporation, India |
4500000 |
|
|
|
|
Total |
18000000 |
AS ON 06.09.2010
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
50.00 |
|
Government Companies |
50.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Importer and Exporter of Aviation
lubricants ,industrial oil, aviation lubricants |
||||||
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|
||||||
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Products : |
|
PRODUCTION STATUS AS ON 31.03.2010
|
Particulars |
Unit |
|
|
Licensed
Capacity – Special Purpose iubricant synthectic and mineral for defence and
aviation and synthetic esters |
Tones |
2500 |
|
Installed
Capacity |
|
|
|
Blending Plant (on a single shift basis) |
Tons |
1400 |
|
Easter Plant (on a single shift basis) |
Tons |
1250 |
|
Actual
Production |
|
|
|
Greases |
Kgs |
16283 |
|
Oil |
Ltrs |
1299839 |
GENERAL INFORMATION
|
Bankers : |
·
State Bank of India, Industrial Finance Branch,
14th Floor, Jawahar Vyapar Bhawan, Tolstoy Marg, New Delhi-110001,
Delhi, India ·
State Bank of India, Commercial Branch, 17/18-A,
Nariman Point, 227, Nariman Point, Mumbai-400021, Maharashtra, India |
BANKING FACILITIES:
|
Secured Loan |
Rs.
In Millions 31.03.2010 |
Rs.
In Millions 31.03.2009 |
Rs.
In Millions 31.03.2008 |
Rs.
In Millions 31.03.2007 |
|
From State Bank of India and State Bank of Saurashtra |
|
|
|
|
|
-
Term Loan |
0.000 |
10.216 |
24.104 |
38.128 |
|
-
Cash Credit |
10.902 |
0.000 |
0.000 |
91.534 |
|
Total |
10.902 |
10.216 |
24.104 |
129.662 |
|
|
|
|
|
|
|
Unsecured Loan |
Rs.
In Millions 31.03.2010 |
Rs.
In Millions 31.03.2009 |
Rs.
In Millions 31.03.2008 |
Rs.
In Millions 31.03.2007 |
|
|
|
|
|
|
|
Sales Tax Deferral Scheme |
55.685 |
70.483 |
74.948 |
74.947 |
|
Total |
55.685 |
70.483 |
74.948 |
74.947 |
|
|
|
|
Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse Chartered Accountant |
|
Address : |
Price Waterhouse, 32, Khader Nawaz Khan Road, Nungambakkam,
Chennai-600006, Tamil Nadu, India |
|
|
|
|
Associates/Subsidiaries : |
Nyco S. A., France Indian Oil Corporation Limited Balmer Lawrie and Company Limited |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
22000000 |
Equity Shares |
Rs.10/- each |
Rs. 220.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
18000000 |
Equity Shares |
Rs.10/- each |
Rs. 180.000
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
|
1] Share Capital |
180.000 |
180.000 |
180.000 |
180.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
168.004 |
153.422 |
132.632 |
134.147 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
348.004 |
333.422 |
312.632 |
314.147 |
|
|
LOAN FUNDS |
|
|
|
|
|
|
1] Secured Loans |
10.902 |
10.216 |
24.104 |
129.662 |
|
|
2] Unsecured Loans |
55.685 |
70.483 |
74.948 |
74.947 |
|
|
TOTAL BORROWING |
66.587 |
80.699 |
99.052 |
204.609 |
|
|
DEFERRED TAX LIABILITIES |
54.400 |
56.100 |
55.500 |
54.300 |
|
|
|
|
|
|
|
|
|
TOTAL |
468.991 |
470.221 |
467.184 |
573.056 |
|
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
316.636 |
326.510 |
345.251 |
360.919 |
|
|
Capital work-in-progress |
3.008 |
0.000 |
0.640 |
0.064 |
|
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
|
Inventories |
80.480
|
102.128 |
91.888 |
68.585 |
|
|
Sundry Debtors |
110.529
|
87.631 |
42.472 |
170.220 |
|
|
Cash & Bank Balances |
17.613
|
26.474 |
28.474 |
11.321 |
|
|
Other Current Assets |
1.860
|
1.480 |
0.717 |
0.292 |
|
|
Loans & Advances |
6.664
|
4.705 |
8.517 |
6.165 |
|
Total
Current Assets |
217.146
|
222.418 |
172.068 |
256.583 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
|
Sundry Creditors |
20.883
|
42.408 |
33.751 |
24.545 |
|
|
Other Current Liabilities |
10.073
|
6.251 |
4.622 |
8.188 |
|
|
Provisions |
36.843
|
30.048 |
12.402 |
11.777 |
|
Total
Current Liabilities |
67.799
|
78.707 |
50.775 |
44.510 |
|
|
Net Current Assets |
149.347
|
143.711 |
121.293 |
212.073 |
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
TOTAL |
468.991 |
470.221 |
467.184 |
573.056 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
31.03.2007 |
||
|
|
SALES |
|
|
|
|
||
|
|
|
Income |
401.195 |
380.425 |
222.188 |
320.343 |
|
|
|
|
Other Income |
4.192 |
6.106 |
4.309 |
2.749 |
|
|
|
|
TOTAL (A) |
405.387 |
386.531 |
226.497 |
323.092 |
|
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
|
||
|
|
|
Material |
222.975 |
203.772 |
106.327 |
169.196 |
|
|
|
|
Employee Costs |
40.463 |
34.188 |
28.716 |
28.925 |
|
|
|
|
Other Expenses |
52.118 |
50.932 |
42.686 |
47.172 |
|
|
|
|
TOTAL (B) |
315.556 |
288.892 |
177.729 |
245.293 |
|
|
|
|
|
|
|
|
||
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
89.831 |
97.639 |
48.768 |
77.799 |
||
|
|
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES (D) |
5.430 |
6.961 |
8.321 |
12.727 |
||
|
|
|
|
|
|
|
||
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
84.401 |
90.678 |
40.447 |
65.072 |
||
|
|
|
|
|
|
|
||
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
24.296 |
25.129 |
25.230 |
23.460 |
||
|
|
|
|
|
|
|
||
|
|
PROFIT BEFORE
TAX (E-F) (G) |
60.105 |
65.549 |
15.217 |
41.612 |
||
|
|
|
|
|
|
|
||
|
Less |
TAX (I) |
19.200 |
23.700 |
5.515 |
15.920 |
||
|
|
|
|
|
|
|
||
|
|
PROFIT AFTER TAX
(G-I) (J) |
40.905 |
41.849 |
9.702 |
25.692 |
||
|
|
|
|
|
|
|
||
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
153.422 |
132.632 |
134.147 |
118.985 |
||
|
|
|
|
|
|
|
||
|
Less |
Employees
Benefits |
0.000 |
0.000 |
(0.688) |
0.000 |
||
|
|
|
|
|
|
|
||
|
Less |
APPROPRIATIONS |
|
|
|
|
||
|
|
|
Transfer to General Reserve |
1.023 |
0.000 |
0.000 |
0.000 |
|
|
|
|
Dividend |
22.500 |
18.000 |
9.000 |
9.000 |
|
|
|
|
Tax on Dividend |
3.824 |
3.059 |
1.529 |
1.530 |
|
|
|
BALANCE CARRIED
TO THE B/S |
166.980 |
153.422 |
132.632 |
134.147 |
||
|
|
|
|
|
|
|
||
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
||
|
|
|
Export Earnings |
23.365 |
12.040 |
2.060 |
2.190 |
|
|
|
|
Commission Earnings |
1.168 |
0.000 |
0.000 |
0.000 |
|
|
|
TOTAL EARNINGS |
24.533 |
12.040 |
2.060 |
2.190 |
||
|
|
|
|
|
|
|
||
|
|
IMPORTS |
|
|
|
|
||
|
|
|
Raw Materials |
115.518 |
117.439 |
75.054 |
121.159 |
|
|
|
|
Capital Goods |
2.094 |
0.876 |
0.942 |
0.000 |
|
|
|
|
Others |
0.115 |
0.084 |
0.027 |
0.000 |
|
|
|
TOTAL IMPORTS |
117.727 |
118.399 |
76.023 |
121.159 |
||
|
|
|
|
|
|
|
||
|
|
Earnings Per
Share (Rs.) |
2.27 |
2.32 |
0.54 |
1.43 |
||
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
PAT / Total Income |
(%) |
10.09
|
10.83 |
4.28 |
7.95 |
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
14.98
|
17.23 |
6.85 |
12.99 |
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.26
|
11.94 |
2.94 |
6.74 |
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.17
|
0.20 |
0.05 |
0.13 |
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.54
|
0.65 |
0.66 |
0.97 |
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.20
|
2.83 |
3.39 |
5.76 |
LOCAL AGENCY FURTHER INFORMATION
Note : Registered Office
of the company has been shifted from Balmer Lawrie house,628, Anna Salai,
Teynampet, Chennai 600018, Tamil Nadu, India to the present address
w.e.f.12.05.2009
FORM 8
|
Corporate
identity number of the company |
U23201DL1993PTC190652 |
|
Name of the
company |
AVI-OIL INDIA
PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
608, Surya Kiran
Building, 19, Kasturba Gandhi Marg, New Delhi-110001, Delhi, India |
|
This form is for |
Modification of
charge |
|
Type of charge |
Immovable
property Book debts Movable property
(not being pledge) |
|
Particular of
charge holder |
State Bank of India, Industrial Finance Branch, 14th Floor,
Jawahar Vyapar Bhawan, Tolstoy Marg, New Delhi-110001, Delhi, India |
|
Nature of
instrument creating charge |
1. Letter
regarding the grant of individual limit within the overall limit. (Form C5)
dated 17/03/2011. 2. Supplemental
Agreement of Hypothecation of goods and assets for increase in the overall
limit (Form C.2-A) dated 17/03/2011. 3. Supplemental
Agreement of Loan for increase in the overall limit (Form C.1-A) dated
17/03/2011. |
|
Date of
instrument Creating the charge |
17.03.2011 |
|
Amount secured by
the charge |
Rs. 230.000
millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest 11.50% p.a. Terms of repayment Working Capital
Limit Margin LC/ BG-10% Extent and operation of the charge First charge on all
current assets by way of stocks, stores, book debts and other current assets
and collateral to be secured by first charge on entire fixed assets. |
|
Short particulars
of the property charged (Including location of the property) |
First charge on
all current assets by way of stock, stores, book debts and other current
assets and collateral to be secured by first charge on entire fixed assets. |
|
Charge
identification number of the charge to be modified |
90287692 |
|
Date of
instrument modifying the charge |
08.06.2009 |
|
Particulars of
the present modification |
1. Overall limit
sanctioned for Rs. 230.000 millions [( CC-50.000 millions.) and (BG-180.000
millions. with the sub-limit of LC for 20.000 millions.)] 2. Both ways interchangeability
between Cash Credit and Bank Guarantee limits to the extent of Rs. 50.000
millions. |
FIXED ASSETS
·
Freehold Land
·
Leasehold Land
·
Building
·
Plant and Machinery
·
Computers
·
Office Equipments
·
Furniture and Fixtures
WEB SITE DETAILS
PROFLIE
Subject
a Joint Venture of Indian Oil Corporation Limited, Balmer-Lawrie and Company
Limited and NYCO S.A. France was established in 1993 for the indigenous
production/supply of aviation lubricants to the Defence Services and other
aircraft operators in India.
Indian
Oil Corporation provides the marketing infrastructure and the experience of
indigenisation, Balmer-Lawrie has the strength in project engineering and NYCO
S.A. of France provide the Technical Know-How on a continuous basis for a wide
range of lubricants required for aircraft and allied military equipment of
Western and Russian origin.
The
AVI-OIL plant is located at village Piyala, district Faridabad, Haryana, about
45 Km. from New Delhi; and includes a blending unit for aviation oils, an ester
manufacturing unit for production of synthetic basestocks and filling and
packaging facilities.
The
products of AVI-OIL include a wide range of high performance lubricating oils,
hydraulic fluids, greases, protectives and specialities, designed to meet the
stringent requirements of operation over a wide temperature range and often
hostile environment.
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. 44.80 |
|
|
1 |
Rs. 72.85 |
|
Euro |
1 |
Rs. 63.11 |
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 |
6 |
|
--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 |
|
46 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
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.