MIRA
INFORM REPORT
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Report Date : |
06.08.2011 |
IDENTIFICATION DETAILS
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Name : |
K K NAG LIMITED |
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Registered Office : |
Gat No. 393, At Post Urse, Taluka Maval, Pune – 410 506, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
13.07.1965 |
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Com. Reg. No.: |
11-13267 |
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Capital
Investment / Paid-up Capital : |
Rs.8.470 Millions |
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CIN No.: [Company
Identification No.] |
U25209MH1965PLC013267 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PNEK00493D |
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Legal Form : |
A Closely held Public Limited Liability Company. |
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Line of Business : |
Manufacturer, Exporter and Importer of Packaging Materials,
Plastic Goods and Chemical Equipments. |
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No. of Employees
: |
300 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (46) |
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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 230000 |
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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 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
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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 Office / Corporate Office/ Factory: |
Gat No. 393, At And Post Urse, Taluka Maval, Pune – 410 506, |
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Tel. No.: |
91-2114-237081/ 82/ 83 |
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Fax No.: |
91-2114-237084 |
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E-Mail : |
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Website : |
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Factory 1 : |
Pune Manufacturing-
Ranjangaon Plot No. E - 86, Ranjangaon Industrial Area, Village
Karegaon , Taluka Shirur, District Pune – 412 208, Maharashtra, India |
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Tel. No.: |
91-2138-288276 |
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Fax No.: |
91-2138-237084 |
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E-Mail : |
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Factory 2 : |
Bangaluru Sales
office/ Bengaluru Manufacturing Survey No. 182/1l, Anekal To Attibelel Raod, Bidragere Grama, Kasaba
Hobli, Bestamanahalli Post, Anekal, Bengaluru-562106, Karnataka, India |
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Tel. No.: |
91-80-27841638 |
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Fax No.: |
91-80-27841639 |
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E-Mail : |
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Factory 3 : |
Promol
Division,
Ponducherry Sales
office and Manufacturing 84/1, |
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Tel. No.: |
91-413-2699970/ 2699971 |
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Fax No.: |
91-413-2699785 |
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E-Mail : |
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Factory 4 : |
Chennai
Manufacturing - Thiruvallur Survey No. 490/2A and 2B, |
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E-Mail : |
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Factory 5 : |
Plot No. 26A, |
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Tel. No.: |
91-8110-7870806/07, 7834564 |
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Fax No.: |
91-8110-7834554 |
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E-Mail : |
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Engineering Support Division/ Rotomoulding Division : |
Shembekar Industrial Compound, Chinchwad, Pune – 411019, |
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Tel. No.: |
91-20-65104554/ 27461440 |
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Fax No.: |
91-20-2114237084 |
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E-Mail : |
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Nag Foundation: |
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Tel No.: |
91-20-26125091 |
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E mail: |
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Branches : |
Pune Sales
Office Bengaluru Sales
Office Chennai Sales
Office · Old No. 5B, New No. 6, 3rd Cross Street, 6th Main Road, Thandeeswaram Nagar, Velacherry Chennai - 600 042 India Telefax: 91-44-22431549 · 69-B, Venkataratrinam Nagar, Adyar, Chennai – 600 020, Tamilnadu Plot No. 17, Survey No: 122, Jigani Industrial Area,
Jigani Hobli, anekal Taluka, |
DIRECTORS
As On 30.09.2010
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Name : |
Mr. Milon K. Nag |
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Designation : |
Chairman and Managing Director |
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Address : |
“Barodi”, 3, |
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Date of Birth/Age : |
06.07.1962 |
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Date of Appointment : |
01.11.1986 |
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Name : |
Mr. Promeet K. Nag |
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Designation : |
Director |
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Address : |
Segeberger Chaussee, 249 B, 22851, |
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Date of Birth/Age : |
17.03.1965 |
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Date of Appointment : |
28.03.1989 |
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Name : |
Mr. Ulhas D. Damle |
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Designation : |
Director |
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Address : |
A -501, Eves Garden, Opposite Baner Telephone Exchange, Baner Road,
Pune – 411 045, Maharashtra |
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Date of Birth/Age : |
08.04.1954 |
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Date of Appointment : |
01.07.2001 |
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Name : |
Mr. Ramanathan V. Ayyapankar |
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Designation : |
Director |
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Address : |
A-3/22, Agrasen Co-Operative Housing Society, 8, |
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Date of Birth/Age : |
15.03.1939 |
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Date of Appointment : |
02.10.1978 |
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Name : |
Mr. Visweswaran Krishnanurti |
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Designation : |
Whole Time Director |
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Address : |
184, 6th C Main, 15th B Cross, II Stage, II Phase, Mahalaxmi Layout, Bangalore-560086, Karnataka, India |
KEY EXECUTIVES
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Name : |
Mr. Purshottam A Ranade |
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Designation : |
Director |
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Address : |
B-37, |
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Date of Birth/Age : |
13.09.1954 |
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Date of Appointment : |
01.04.1995 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As On 30.09.2010
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Names of Shareholders |
No. of Shares |
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Nag K Milon Jointly with Nag Milon Mitali |
18575 |
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Nag K Milon Jointly with Nag Milon Shona |
18575 |
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Nag K Milon Jointly with Nag Milon Crishna |
18576 |
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Nag Milon Mitali Jointly with Nag K Milon |
1 |
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Nag K Promeet Jointly with Nag Promeet Marina |
8350 |
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Nag K Promeet Jointly with Nag Promeet Philip |
8350 |
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Nag K Promeet Jointly with K Nag and Promeet Nag |
8349 |
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Sabnberwal Joya Jointly with Nag K Milon |
8 |
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Damle D Ulhas |
3920 |
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Total
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84704 |
Equity Share Breakup (Percentage of Total Equity)
As on 30.09.2010
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Category |
Percentage |
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Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter and Importer of Packaging
Materials, Plastic Goods and Chemical Equipments. |
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Products : |
· Expanded Polystyrene Products · Chemical Equipments
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Exports : |
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Products : |
v Packaging Materials v Plastic Goods v
Chemical Equipments |
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Countries : |
v
v
v
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Imports : |
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Products : |
Raw Materials |
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Countries : |
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GENERAL INFORMATION
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Customers : |
End Users · Aankit Granites Limited · Aasahi
Glass · Ambit Info Tech Limited · American Power Conversion · Amul · Applicomp
( · ARS Exports · Aquamall Water Solutions Limited · Asea Brown Boveri Limited · Automatic Electric Limited · Bajaj Auto Limited · Balzer
· Bharat Forge Limited · Blue Star Limited · · BPL Limited · Carrier Aircon Limited · Chandfruit Company · Coca
Cola · Crystal Granite and Marble Private Limited · Easun Reyrolle Limited · EKL Appliances Limited · Enkei Castalloy · ETA General Private Limited · · Forbes Marshall Limited · FAL Industries Limited · · Glaxo Smithkline Pharmaceuticals Limited · Glittek Granites Limited · Godrej and Boyce Manufacturing Company Limited · Greaves Limited · HCL Peripherals · IBM
· ICFAI
· Indo
Western Refrigeration ( · Invensys
· Jabil Circuits · L. G. Balakrishnan and Bros · L J International Limited · Larsen and Toubro Limited · Lenova
· Madhav Marbles and Granites Limited · Maral Overseas · Maya Appliances Private Limited · Motherson Sumi Limited · Namdhari Fresh Vegetables · Oxfam · Panasonic Home Appliances Limited · · Philips
· Prince Plastics · Raien Trading Corporation · S.D. Fine-Chem Limited · Satyam Computers · Scanet Exports Limited · Serum
· Solaris Fitness World · Spencer’s Hyper Markets · Sudarshan Chemicals · Supreme
· Tata Auto Plast · TVS Electronics Limited · Tyco Electronics Corporation · Videocon Industries Limited · Web Peripherals Limited · Whirlpool
of |
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No. of Employees : |
300 (Approximately) |
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Bankers : |
State Bank of India, Industrial Finance Branch, Pimpri Mumbai
Highway, Near Kalasagar Hotel,
Kasarwadi, Pimpri, Pune - 411034, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Deloitte Haskins and Sells Chartered Accountants |
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Address : |
706, B Wing, 7th Floor, |
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Tel No: |
91-20-66244600 |
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Fax No: |
91-20-66244605 |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity shares |
Rs.100/- Each |
Rs.10.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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84704 |
Equity shares |
Rs.100/-
Each |
Rs.8.470
Millions |
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Notes:
Includes 70000 Equity Shares of Rs. 100/- each
allotted as fully paid up bonus shares by capitalization of General Reserve.
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 |
8.470 |
8.470 |
8.470 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
50.899 |
41.914 |
35.973 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
59.369 |
50.384 |
44.443 |
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LOAN FUNDS |
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1] Secured Loans |
70.133 |
97.159 |
80.638 |
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2] Unsecured Loans |
36.929 |
37.203 |
42.390 |
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TOTAL BORROWING |
107.062 |
134.362 |
123.028 |
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DEFERRED TAX LIABILITIES |
9.831 |
9.222 |
10.684 |
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TOTAL |
176.262 |
193.968 |
178.155 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
131.299 |
130.143 |
128.208 |
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Capital work-in-progress |
15.161 |
4.717 |
4.751 |
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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 |
53.239
|
56.090
|
55.795
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Sundry Debtors |
132.053
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113.914
|
105.774
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Cash & Bank Balances |
7.671
|
3.778
|
4.770
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Other Current Assets |
0.273
|
0.203
|
0.282
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Loans & Advances |
30.193
|
33.747
|
25.696
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Total
Current Assets |
223.429
|
207.732
|
192.317 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
170.549
|
123.429
|
125.491 |
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Other Current Liabilities |
10.938
|
7.928
|
9.471 |
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Provisions |
12.140
|
17.267
|
12.159 |
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Total
Current Liabilities |
193.627
|
148.624
|
147.121 |
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Net Current Assets |
29.802
|
59.108
|
45.196 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
176.262 |
193.968 |
178.155 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Income |
668.606 |
557.609 |
485.695 |
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Other Income |
10.523 |
10.867 |
10.885 |
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TOTAL (A) |
679.129 |
568.476 |
496.580 |
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Less |
EXPENSES |
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Consumption of Raw Materials |
306.482 |
264.456 |
227.956 |
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Finished Goods for Re-sales |
20.099 |
23.573 |
25.183 |
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Increase/ Decrease in Stock of Finished Goods and Work in process |
5.748 |
[1.133] |
[3.229] |
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Other Cost |
292.194 |
235.325 |
201.865 |
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TOTAL (B) |
624.523 |
522.221 |
451.775 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
54.606 |
46.255 |
44.805 |
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Less |
FINANCIAL
EXPENSES/INTEREST (D) |
18.806 |
17.575 |
17.123 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
35.800 |
28.680 |
27.682 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
19.654 |
18.102 |
16.082 |
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PROFIT BEFORE
TAX (E-F) (G) |
16.146 |
10.578 |
11.600 |
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Less |
TAX (I) |
5.179 |
3.646 |
3.741 |
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PROFIT AFTER TAX
(G-I) (J) |
10.967 |
6.932 |
7.859 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
24.773 |
19.832 |
13.964 |
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Less |
APPROPRIATIONS |
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Transfer to General Reserve |
1.500 |
1.000 |
1.000 |
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Proposed Dividend |
1.694 |
0.847 |
0.847 |
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Tax on Proposed Dividend |
0.288 |
0.144 |
0.144 |
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BALANCE CARRIED
TO THE B/S |
32.258 |
24.773 |
19.832 |
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Basic and
Diluted Earnings Per Share (Rs.) |
129.47 |
81.84 |
92.78 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
1.61
|
1.22
|
1.58 |
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Net Profit Margin (PBT/Sales) |
(%) |
2.41
|
1.90
|
2.39 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
4.55
|
5.59
|
6.69 |
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|
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|
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Return on Investment (ROI) (PBT/Networth) |
|
0.27
|
0.21
|
0.26 |
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|
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|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
5.06
|
5.62
|
6.08 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.15
|
1.40
|
1.31 |
LOCAL AGENCY FURTHER INFORMATION
CORPORATE RESULTS
The Company achieved a robust 19% growth in the top line, recording a
turnover of Rs.668.606 Millions and a net profit before tax of Rs.16.146
Millions representing an increase of 53% over the previous year.
OPERATIONS
As Sales and Other Income increased 19% and the Profit Before Tax by
53%, the Company’s net profit margin improved to 2.38% compared to 1.86% of
last year.
The Division-wise performance was as under:
MANUFACTURING
DIVISION: URSE
In spite of an increase in Sales of more than 19%, this Division
continued to make a loss due to increase in input costs and overheads, which
could not be passed on to the customers in view of the very competitive market
conditions.
MANUFACTURING
DIVISION : RANJANGAON
This Division continued its excellent performance registering a top line
growth of 37%. Due to the dedicated and concerted efforts and a focus on the
rigorous implementation of TQM activities, the profitability of this Division
improved substantially, thereby becoming a benchmark for the other Divisions.
MANUFACTURING
DIVISION: BENGALURU
Sales went up marginally by 5% which was inadequate to cover the
increase in overheads resulting in a loss for the year. The Division witnessed
a huge fire on 12 March, 2010 as a result of which the profitability was
further adversely affected.
With conperted efforts by the team at Bengaluru supported very ably by
all the other Divisions, the Plant recommenced operations within a period of 41
days on 24th April’2010. The Board is of the opinion that all the losses would
be recovered from the insurers.
MANUFACTURING
DIVISION: KARIAMANICKKAM
In spite of recording a growth in sales of about 19%, the profitability
of the Division could not be sustained on account of lower productivity and
higher costs.
BREEZAIR BUSINESS
GROUP
Due to recessionary trends during the first half of the year, the
performance of this Division was below expectations. The sales were lower by
15% during the year. The Company is confident that with the signs of recovery
and increase in economic activity, this Division would perform better in the
near future.
ROTOMOULDING
DIVISION
The turnover of this Division went up substantially by 46% mainly on
account of better export performance.
MODERNISATION AND
EXPANSION PLANS
The Company continued its commitment to Total Quality Management and
Continuous Improvement by conducting Gemba Kaizen Workshops with the help of a
reputed consultant. The Company has also set up a new manufacturing facility at
Chennai which has commenced production in June’2010. –
CURRENT YEAR
In the current year the company’s emphasis is on increasing the market
share for EPP and Rotomoulding products to broad base its product offering and
to improve its profitability.
Bankers Charges
Report as per Registry
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10018036 |
|
Corporate
identity number of the company |
U25209MH1965PLC013267 |
|
Name of the
company |
K.K NAG LIMITED |
|
Address of the registered
office or of the principal place of
business in |
Gat No. 393, At And Post Urse, Taluka Maval, Pune – 410 506, |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
State Bank of India, Industrial Finance Branch, Pimpri
Mumbai Highway, Near Kalasagar Hotel,
Kasarwadi, Pimpri, Pune - 411034, Maharashtra, India |
|
Nature of
description of the instrument creating or modifying the charge |
Memorandum for
recording extension of mortgage by deposit of title deeds covering enhanced
limits (SME- 7) executed on 23.03.2009 to create a single charge against the
fixed assets as additional security to cover the enhanced limit sanction by
the Bank. |
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Date of
instrument Creating the charge |
23.03.2009 |
|
Amount secured by
the charge |
Rs. 126.300
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest:
The rate of Interest as applicable Terms of Repayment:
The enhanced portion of the facility i. e Rs. 11.000 Millions will have to be
repay as Five installments of Principal Rs. 1.833 Millions from 15.09.2009 to
January 2010 and the last installment of Proncipal Rs. 1.835 Million payable
on February 2010 alongwith interest thereon as and when due. Margin: Margin as
per sanction letter Extent and
Operation of the charge: State Bank of India IFB Branch Pune will have entire
and single charge on the additional security provided by the borrower company
by way of Memorandum of title deeds till the repayment of full amount of the
loan facility extended by the Bank. Managing Director Mr. Milon K Nag has
offered personal guarantee to stand for and to set out the loan extended by
SBI IFB Pimpri Branch, Pune. |
|
Short particulars
of the property charged |
State Bank of
India IFB Branch Pune will have entire and single charge on the additional
security provided by the borrower company by way of memorandum of title deeds
till the repayment of full amount of the loan facility extended by the Bank.
Managing director Mr. Milon K Nag has offered personal guarantee to stand for
and to set out the loan extended by SBI IFB Pimpri Branch Pune for which the
have been maintained at the works and registered office of the borrower
company. |
|
Particulars of
the present modification |
By this present
modification, the company has offered the additional security of the fixed
assets- properties more particularly described in the Memorandum of title deeds
for the enhanced loan facility of Rs. 126.300 Millions |
FIXED ASSETS
v
v
v
v Plant and Machinery
v Moulds
v Furniture and Fixtures
v Office Equipments
v Software
v Vehicles
WEBSITE DETAILS
Subject is a leader
in Expanded Polystyrene (also known as Thermocole) solutions and is amongst the top Indian
companies that provide products and services to the plastics industry.
Founded in 1965
as a manufacturer of fibreglass and lead lined products, today they are a
multi-location company focused on a range of plastic solutions for a wide range
of applications, including packaging, insulation, and internal components.
They have ISO 9001 certification from TUV and are currently
being certified for ISO 14001.
K.K. Nag is driven by innovation. Their
innovation schemes ensure that they get new product and process ideas from both
within and outside the company. They are always open to new partnerships and
collaborations, either as customers, supporters, or joint-venture participants,
and welcome any such opportunities.
They have operations all over Western and
Profile
Subject was founded
in 1965 by the late Mr. Kalyan Kumar Nag, on a foundation of innovation and
continuous improvement. They have a rich history of product and process
innovation and pioneering new plastic processes.
Prior to
starting the Company, Mr. Nag and his senior Partner, Mr. R.A. Cole, pioneered
the use of Expanded Polystyrene (EPS) in India (in fact, the generic name for
EPS in India, "Thermocole", is derived from the words
"Thermo" for heat and "Cole" for Mr R.A. Cole!). Interestingly,
the two pioneers synthesised expandable polystyrene for the first time in
They pioneered the use of Fibreglass
Reinforced Plastic (or FRP) in
They currently pioneer the use of
Expanded Polypropylene (EPP) in
They are also
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 |
6 |
|
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 |
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.