MIRA
INFORM REPORT
|
Report Date : |
08.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
EMAMI BIOTECH LIMITED |
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Formerly Known As : |
EMAMI BIOTECH
PRIVATE LIMITED |
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Registered Office : |
687, Anandapur, E. M. Bypass, Kolkata-700107, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
18.04.2002 |
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Com. Reg. No.: |
21-094530 |
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Capital
Investment / Paid-up Capital : |
Rs. 207.275
Millions |
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CIN No.: [Company
Identification No.] |
U24233WB2002PLC094530 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CALN02533G |
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PAN No.: [Permanent
Account No.] |
AABCN7953M |
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Legal Form : |
A closely held public limited liability company. |
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Line of Business : |
Manufacturer of Edible Oil, Bio Diesel, Glycerin,
Medicinal Plant and Herbal Products. |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (45) |
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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 4252552 |
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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 well established company having satisfactory track.
Profitability of the company appears to be low. However, trade relations are
reported as fair. Business is active. Payments are reported to be usually
correct. 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) |
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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 : |
687, Anandapur, E. M. Bypass, Kolkata-700107, West |
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Tel. No.: |
91-33-66136264 |
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Fax No.: |
91-33-66136400 |
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E-Mail : |
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Factory 1 : |
149, HP Link Road, Debong, Bhabanipur, Haldia-721657, Purba Medinipur, India |
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Tel. No.: |
91-3224-255983 / 255378 |
DIRECTORS
AS ON 27.09.2010
|
Name : |
Mr. Aditya Vardhan Agarwal |
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Designation : |
Director |
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Address : |
118 Southern Avenue, Kolkata-700107, West |
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Date of Birth/Age : |
06.01.1975 |
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Date of Appointment : |
18.04.2002 |
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Election Commission Identity Card No. : |
ADAPA0465A |
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Name : |
Mrs. Priti Surekha |
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Designation : |
Additional Director |
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Address : |
H-I, Kolkata-700107, West |
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Date of Birth/Age : |
23.05.1972 |
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Date of Appointment : |
26.12.2007 |
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Election Commission Identity Card No. : |
ALBPS5796H |
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Name : |
Mr. Manish Goenka |
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Designation : |
Director |
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Address : |
110 A, Southern Avenue, Kolkata-700107, West |
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Date of Birth/Age : |
07.02.1974 |
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Date of Appointment : |
18.04.2002 |
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Election Commission Identity Card No. : |
ADXPG35980 |
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Name : |
Mr. Sushil Kumar Khetan |
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Designation : |
Director |
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Address : |
129 A, Block CA-I Floor, Bangur Avenue, Kolkata-700107, West |
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Date of Birth/Age : |
06.07.1965 |
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Date of Appointment : |
19.12.2003 |
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Election Commission Identity Card No. : |
AGCPK8747J |
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Name : |
Mr. Swapan Kumar Mondal |
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Designation : |
Whole Time Director |
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Address : |
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Date of Birth/Age : |
17.05.1950 |
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Date of Appointment : |
18.04.2002 |
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Election Commission Identity Card No. : |
AEOPM4603B |
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Name : |
Mr. Niranjan Raghunath Raje |
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Designation : |
Director |
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Address : |
A-648, Susantalok-1, Gurgaon-122002 |
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Date of Birth/Age : |
10.02.1945 |
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Date of Appointment : |
17.03.2008 |
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Election Commission Identity Card No. : |
AADPR1172M |
KEY EXECUTIVES
|
Name : |
Mr. Kailash Chandra Panda |
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Designation : |
Secretary |
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Date of Appointment : |
03.07.2008 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 27.09.2010
|
Names of Shareholders |
No. of Shares |
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Mr. Aditya Vardhan Agarwal |
9250 |
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Mr. Manish Goenka |
4150 |
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Mr. Swapan Kumar Mondal |
500 |
|
Bhanu Vyapaar Private Limited, Kolkata, West Bengal |
2923310 |
|
Diwakar Viniyog Private Limited, Kolkata, West Bengal |
3616050 |
|
Suntrack Commerce Private Limited, Kolkata, West Bengal |
3614150 |
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Surai Viniyog Private Limited, Kolkata, West Bengal |
1422350 |
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Mr. Raj Kumar Goenka |
31350 |
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Mr. Radheshyam Goenka |
17500 |
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Mr. Mohan Goenka |
5000 |
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Mrs. Rashmi Goenka |
625 |
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Mr. Saswat Goenka |
625 |
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Mrs. Nimisha Goenka |
7500 |
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K. D. Goenka and Sons (HUF) |
7500 |
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Mr. Suresh Kumar Goenka |
1250 |
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Mr. Asish Goenka |
8750 |
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Mrs. Shruti Goenka |
2500 |
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Mrs. Meena Goenka |
6875 |
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Mr. Prashant Goenka |
20000 |
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Mr. Yogesh Goenka |
23750 |
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Mr. Sushil Kumar Goenka |
7500 |
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Mrs. Indu Goenka |
31875 |
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Mr. Sachin Goenka |
27500 |
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Mr. Sushil Kumar Goenka (HUF) |
36250 |
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Mr. Radheshyam Agarwal |
100000 |
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Mr. Harsh Vardhan Agarwal |
77500 |
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H. V. Agarwal (HUF) |
7500 |
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A. V. Agarwal (HUF) |
1250 |
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Mrs. Usha Agarwal |
21250 |
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Mrs. Jyoti Goenka |
625 |
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Mr. Santosh Goenka |
6875 |
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Mrs. Mansi Agarwal |
16250 |
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Mrs. Richa Agarwal |
20000 |
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Mr. Saroj Goenka |
27500 |
|
Pan Emami Cosmed Limited, Kolkata, West Bengal |
327450 |
|
TMT Viniyogan Limited, Kolkata, West Bengal |
100000 |
|
R. S. Agarwal (HUF) |
2500 |
|
Jagadish Agarwal |
10 |
|
Rajendra Jatia |
10 |
|
Jatia Mahabirprasad |
10 |
|
New Way Constructions Limited, Kolkata, West Bengal |
125000 |
|
Neelam Lefin Limited, Kolkata, West Bengal |
547550 |
|
Emamihighrise (P) Limited, Kolkata, West Bengal |
1422400 |
|
Deeveecomercial Limited, Kolkata, West Bengal |
2755600 |
|
Emamienclave Makers (P) Limited, Kolkata, West Bengal |
1442140 |
AS ON 27.09.2010
|
Category |
Percentage |
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Bodies corporate |
97.44 |
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Directors or relatives of directors |
0.07 |
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Others |
2.49 |
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Total
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Edible Oil, Bio Diesel, Glycerin,
Medicinal Plant and Herbal Products. |
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Products : |
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PRODUCTION STATUS
AS ON 31.03.2010
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Particulars |
Unit |
Installed
Capacity |
Actual
Production |
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Edible Oil and Fats |
MT |
330000 |
188606 |
|
Bio Diesel |
MT |
100000 |
680* |
Note: *The production figure includes 486 MT
relating to the period prior to commencement of commercial production of the
plant.
GENERAL INFORMATION
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No of Employees: |
Not Available |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
S. K. Agrawal and Company Chartered Accountant |
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Address : |
4A, |
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Subsidiary : |
Emami Biotech (Singapore) Pte Limited New Age Biotech PLC |
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Associate
Companies: |
Suntrack Commerce Private Limited Suraj Viniyog Private Limited |
CAPITAL STRUCTURE
AS ON 27.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
25000000 |
Equity Share |
Rs.10/- Each |
Rs. 250.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
20727520 |
Equity Share |
Rs.10/- Each |
Rs. 207.275
Millions |
FINANCIAL DATA
[All figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
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|
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1] Share Capital |
207.275 |
121.405 |
26.105 |
|
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
855.863 |
320.480 |
27.159 |
|
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
1063.138 |
441.885 |
53.264 |
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LOAN FUNDS |
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1] Secured Loans |
2439.289 |
2853.669 |
753.993 |
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2] Unsecured Loans |
250.961 |
521.912 |
516.540 |
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TOTAL BORROWING |
2690.250 |
3375.581 |
1270.533 |
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DEFERRED TAX LIABILITIES |
2.353 |
2.684 |
0.000 |
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TOTAL |
3755.741 |
3820.150 |
1323.797 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
2475.391 |
1965.191 |
67.709 |
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Capital work-in-progress |
103.289 |
686.249 |
1156.582 |
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INVESTMENT |
49.113 |
0.332 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.084 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
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Inventories |
1084.583
|
706.377
|
3.003 |
|
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Sundry Debtors |
133.827
|
84.167
|
14.598 |
|
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Cash & Bank Balances |
295.168
|
1123.164
|
107.238 |
|
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Other Current Assets |
0.000
|
0.000
|
0.000 |
|
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Loans & Advances |
519.340
|
328.703
|
108.465 |
|
Total
Current Assets |
2032.918
|
2242.411
|
233.304 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
84.615
|
47.368
|
68.422 |
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Current Liabilities |
815.823
|
1024.502
|
64.540 |
|
|
Provisions |
4.634
|
2.327
|
1.102 |
|
Total
Current Liabilities |
905.072
|
1074.197
|
134.064 |
|
|
Net Current Assets |
1127.846
|
1168.214
|
99.240 |
|
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MISCELLANEOUS EXPENSES |
0.102 |
0.164 |
0.182 |
|
|
|
|
|
|
|
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TOTAL |
3755.741 |
3820.150 |
1323.797 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
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SALES |
|
|
|
|
|
|
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Sales |
7666.824 |
1516.465 |
15.227 |
|
|
|
Other Income |
8.467 |
11.185 |
2.101 |
|
|
|
TOTAL (A) |
7675.291 |
1527.650 |
17.328 |
|
|
|
|
|
|
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Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials |
7229.818 |
1464.147 |
15.453 |
|
|
|
Manufacturing Expenses |
80.481 |
24.463 |
0.000 |
|
|
|
Increase/(Decrease) in Finished Goods |
(258.753) |
(83.954) |
0.000 |
|
|
|
Selling and Distribution Expenses |
215.330 |
24.590 |
0.075 |
|
|
|
Personnel Cost |
49.929 |
11.298 |
0.000 |
|
|
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TOTAL (B) |
7316.805 |
1440.544 |
15.528 |
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|
|
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
358.486 |
87.106 |
1.800 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
124.318 |
48.195 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
234.168 |
38.911 |
1.800 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
227.985 |
27.360 |
NA |
|
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|
|
|
|
|
|
|
|
PROFIT BEFORE TAX
(E-F) (G) |
6.183 |
11.551 |
1.800 |
|
|
|
|
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|
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|
Less |
TAX (H) |
1.020 |
4.130 |
0.868 |
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|
|
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|
PROFIT AFTER TAX
(G-H) (I) |
5.163 |
7.421 |
0.932 |
|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
7.864 |
0.443 |
(0.242) |
|
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|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
13.027 |
7.864 |
0.690 |
|
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EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
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|
Export Earnings |
17.848 |
7.864 |
0.443 |
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|
|
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|
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|
Earnings Per
Share (Rs.) |
0.42 |
2.18 |
1.30 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
0.06 |
0.46 |
5.38 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.08 |
0.76 |
11.82 |
|
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|
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|
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.13 |
0.27 |
0.60 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.01 |
0.03 |
0.03 |
|
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|
|
|
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|
Debt Equity Ratio (Total Liability/Networth) |
|
3.38 |
10.07 |
26.37 |
|
|
|
|
|
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|
Current Ratio (Current Asset/Current Liability) |
|
2.24 |
2.09 |
1.74 |
LOCAL AGENCY FURTHER INFORMATION
NOTE:
Registered Office of
the company has been shifted from Stephen House, 6A, R.N. Mukherjee Road, 4th
Floor, to the present address w.ef. 18.08.2007
OPERATIONS:
The
Directors are pleased to report that during the year under review, production
of Edible Oil Unit has shown good improvement. During the year, the Company has
also commenced processing of Crude Soyabean Oil at its factory. Total
processing of Crude Palm Oil and Crude Soyabean Oil stood at about 1, 90,000 MT
during the year. During the year, the Company has also significantly improved
sale of its packed products in the form of tins and pouches. The quality of the
Company's products is well accepted in the market and commands customer
preference. During the year, the Company has also geographically spread its
selling areas by covering North Eastern States as well as Northern States.
Commercial
production in Bio-diesel Plant commenced from 31st March, 2010 which
has a capacity of 300 TPD. Although there are issues relating to sale of this
product, the Company is in constant touch with appropriate Government
Authorities so as to improve the sale of Biodiesel in future.
During
the year, the Company has launched its branded product under "Emami
Healthy and Tasty" brand name. The Company proposes to develop sale of its
branded products in a significant way. For this purpose, the Company has hired
the services of Shri M. S. Dhoni, Captain of Indian Cricket Team and Ms. Preity
Zinta, as its Brand Ambassador. During the year, the Company has launched sale
of its branded products in West Bengal and Karnataka. The Company has since
launched its products in Orissa and also Tamil Nadu and gradually proposes to
nationwide launch its products. In order to develop sale of its branded
products, distribution channels and product promotion, the Company envisages
spending a considerable amount in the years to come. Despite stiff competition,
the Company's performance has been satisfactory. The Company continues its
thrust to streamline its operations and expects to improvise its production and
operational efficiencies at all levels.
During
the year, the Company has also put into operation a 60 TPD Votator machine for
development of Bakery products which will enable it to sell Value Added
Products. The Company has also commenced commercial production in the
Interestification Plant of 120 TPD installed capacity. Although the plant has
been put into operation, certain equipment are required to be installed for
producing Value Added Products from this plant. The plant is
presently
used for processing of Crude Soya Oil and Crude Palm Oil. The Company is also
in the process of increasing the capacity of its plant by adding certain
balancing equipment.
The
Company has put in significant efforts in development of plantation in India
and abroad. The Company is also into agricultural activities for which it has
entered into agreement with various entities for contract farming on land owned
by them under crop sharing arrangement. Such activities are currently
undertaken near Madurai, Jhanshi and other places in India. The Company has
also accelerated its plantation activities in Ethiopia through its wholly owned
subsidiary there.
The
Directors are pleased to inform that the Company has been granted Eligibility
Certificate for various types of incentives available to it under West Bengal
Incentive Scheme - 2004 for the investment committed by it for Haldia Project.
The Company has submitted its Claim to the Government of West Bengal for about
Rs. 1710 millions. The incentive shall be made available to the Company in the
form of adjustment against its sales tax liability in the next year in respect
of sales tax deposited in the previous year to the extent of 75%.
The
Directors are pleased to inform that a new Edible Oil Project at Krishnapatnam,
Dist. Nellore, Andhra Pradesh has been conceived. The Company has since
acquired land for this project and also tied up necessary finance for this
project. The Company has so far started construction work at the site and also
put in purchase orders for certain machineries. The Company proposes to put in
a plant of about 1000 TPD for Crude Palm Oil processing and 200 TPD Sunflower
Oil. The Company expects to commence production by January, 2012.
Bankers Charges
Report as per Registry
|
Corporate identity
number of the company |
U24233WB2002PLC094530 |
|
Name of the
company |
EMAMI BIOTECH LIMITED |
|
Address of the
registered office or of the principal place of business in |
687, Anandapur, E. M. Bypass, Kolkata-700107, West Bengal, India |
|
This form is for |
Creation of
charge |
|
Type of charge |
Book debts Movable property
(not being pledge) Others |
|
Particular of
charge holder |
Bank of India,
Kolkata Large Corporate Branch, 5, BTM. Sarani, Kolkata 700001, West Bengal,
India |
|
Nature of
instrument creating charge |
i) Hypothecation Cum
Loan Agreement (Plant And Machinery, Stocks And Book Debts), ii) Pari Passu
Letter from Other Bankers. |
|
Date of
instrument Creating the charge |
09.06.2011 |
|
Amount secured by
the charge |
Rs. 1470.000
millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest LC(F) DP-DA-180
Days: Commission @25% of applicable rate+ service tax of Bank, BG:Commission
@25% of applicable rate+ service tax of Bank, Buyers Credit-180
days: Commission @0.15% p.a+ service tax. Terms of repayment As Per Bank
Norms. Margin LC (F) DP-DA-180
Days and Bank Guarantee: 5% by way of TDR. Extent and operation of the charge 1st pari passu
charge over the entire current assets of the Haldia unit of the company with
other Working Capital banker of the Haldia Unit. 2nd pari passu
charge over the fixed assets of the Haldia unit with other Working Capital
bankers of the Haldia Unit. Other Amount Secured by
the Charge:- Facilities Amount LC (F) DP-DA-180
Days Rs.14.400 millions Buyers Credit -
180 Days (Rs.10.800 millions) Bank
Guarantee Rs. 0.300 million* Total Limit Rs.14.700
millions *One way interchangeability
from BG limit to LC limit is allowed. ROI: On
invocation of BG at the rate of 8% above Banks Base Rate rising or falling,
with present effective 18% per annum. |
|
Short particulars
of the property charged (Including location of the property) |
Both present and
future plant and machineries of the company's edible oil division at Haldia
Unit, West Bengal. Palm oil,
Soyabean Oil, Mustard Oil, Sunflower Oil of the finished edible oils, crude
palm oils, coal, chemicals, packing materials etc along with stores and
spares. All the present
and future book debts, outstanding, money receivables, claims, bills etc. |
Fixed Assets
- Land-Freehold
- Land-Leasehold
- Buildings
- Plant and
Machinery
- Computers and
Accessories
- Vehicles
- Furniture and
Fixtures
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 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
44 |
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.