MIRA
INFORM REPORT
|
Report Date : |
12.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
KANCOR INGREDIENTS LIMITED [w.e.f. 25.03.2011] |
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Formerly Known
As : |
KANCOR FLAVOURS AND EXTRACTS LIMITED |
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Registered
Office : |
VII/138 P B No. 3Kanakkankadavu Road, Angamaly South, Ernakulam,
Kerala- 683573 |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
03.05.1990 |
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Com. Reg. No.: |
09-5658 |
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Capital Investment
/ Paid-up Capital : |
Rs.93.600
Millions |
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|
|
CIN No.: [Company Identification
No.] |
U51909KL1990PLC005685 |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRK05488A |
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PAN No.: [Permanent Account No.] |
AAACK9969R |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturers, Traders, Dealers, Importers and Exporters of Spice Oleoresins, Essential Oils, Seasonings and Natural Colors Botanicals like Sena Leaves, Gymmema Leaves, etc. |
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No. of Employees
: |
About 800 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 980000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a part of Mariawalla Group. A well known industrial house
having strong brand image and presence in FMCG Segments. Subject is a family commited company having fine track. Trade
relations are fair. Payments are correct and as per commitments The company
is doing well. It can be considered good for any normal business dealings at usual
trade term 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 |
|
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 DECLINED BY
MANAGEMENT NON CO-OPERATIVE
LOCATIONS
|
Registered Office : |
VII/138 P B No. 3Kanakkankadavu Road, Angamaly South, Ernakulam,
Kerala- 683573, |
|
Tel. No.: |
91-484-2452236/ 245223/ 3051000/ 2452236/ 37 |
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Fax No.: |
91-484-2452662/ 2453376 |
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E-Mail : |
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Website : |
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Area : |
Owned (Large) |
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Corporate Office : |
814/C, Second Floor, Near Suburban Club, |
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Tel. No.: |
91-484-2575651/ 2575652/ 3107031/ 3107032 |
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Fax No.: |
91-484-2575653 |
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E mail: |
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Factory 1 : |
Kancor Extracts |
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Tel. No.: |
91-484-2456451 |
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Fax No.: |
91-484-2452662 |
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E-Mail : |
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Factory 2 : |
Kancor Essential Oils |
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Tel. No.: |
91-484-2456450 |
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Fax No.: |
91-484-2452662 |
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E-Mail : |
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Factory 3: |
Kancor Botanicals |
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Tel. No.: |
91-484-2456951 |
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Fax No.: |
91-484-2452662 |
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E-Mail : |
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Factory 4 : |
Kancor Nutraceuticals |
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Tel. No.: |
91-484-2456595 |
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Fax No.: |
91-484-2452662 |
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E-Mail : |
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Factory 5: |
Wheel House, 24/2014, |
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Tel. No.: |
91-484-2669879/2669910 |
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Fax No.: |
91-484-2669878 |
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E-Mail : |
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Website : |
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Area : |
Owned (Large) |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Sanjay J. Mariwala |
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Designation : |
Managing Director |
|
Address : |
E-9, Willingdon Enclave, |
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Date of Birth/Age : |
02.01.1960 |
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Date of Appointment : |
03.05.1990 |
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Name : |
Mr. Jayasingh V. Mariwala |
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Designation : |
Chairman and Director |
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Address : |
Sudha Kunj, 3, |
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Date of Birth/Age : |
09.07.1933 |
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Date of Appointment : |
03.05.1990 |
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Name : |
Mr. Ajay Jayasinh Mariawala |
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Designation : |
Director |
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Address : |
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Date of Birth/Age : |
24.01.1963 |
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Date of Appointment : |
27.03.1995 |
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Name : |
Mr. J J Negandhi |
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Designation : |
Director |
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Address : |
41/A B Paul Abrao Residency, 41/2480 Chittor Road, Kacheripadi,
Cochin-682018, Kerala, India |
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Date of Birth/Age : |
31.05.1995 |
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Date of Appointment : |
01.02.2007 |
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Name : |
Mr. Bipin R. Shah |
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Designation : |
Director |
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Address : |
368, B, Manali, |
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Date of Birth/Age : |
16.07.1932 |
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Date of Appointment : |
02.01.1992 |
KEY EXECUTIVES
|
Name : |
Mr. Sijo Varghese |
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Designation : |
Secretary |
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Address : |
Koonammave House, Kuttikad Post, Chalakudy (VIA), Thrissur,
Kerala-680724, |
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Tel No.: |
91-480-2747358 |
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Email: |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Jaysinh V Mariwala |
|
240 |
|
Sanjay J Mariwala |
|
825120 |
|
Ajay J Mariwala |
|
825120 |
|
Mohan J Mariwala |
|
825120 |
|
Nandana S Mariwala |
|
120 |
|
Anuja A Mariwala |
|
120 |
|
Madhavi Mohan Mariwala |
|
120 |
|
J V Mariwala, Trustee – J V Mariwala Family Trust |
|
1080960 |
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Sanjav J Mariwala, Trustee- J V Mariwala Family Trust |
|
4978080 |
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J V Mariwala HUF |
|
825000 |
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Total |
|
9360000 |
Equity Share Breakup (Percentage of Total Equity)
As on 30.09.2010
|
Category |
|
Percentage |
|
Directors or relatives of Directors |
|
26.45 |
|
Other top fifty (50) shareholders (other than listed above) |
|
73.55 |
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Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers, Traders, Dealers, Importers and Exporters of Spice Oleoresins, Essential Oils, Seasonings and Natural Colors Botanicals like Sena Leaves, Gymmema Leaves, etc. |
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Products : |
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PRODUCTION STATUS AS ON 31.03.2010
|
Particulars |
Unit |
|
Installed
Capacity |
Actual
Production |
|
Oleoresin Products |
M.T |
|
852* |
842 |
|
Essential Oils |
M.T |
|
300 |
262 |
|
Botanicals |
M.T |
|
NA |
870@ |
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Others |
M.T |
|
NA |
637@ |
Notes
* Subject to product mix
@ Production quantity represents drying up of products using natural
resources.
GENERAL INFORMATION
|
Customers : |
Wholesalers and Retailers |
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No. of Employees : |
About 800 [Approximately] |
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Bankers : |
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Facilities |
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Banking
Relations : |
Good |
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Auditors : |
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Name : |
Price Waterhouse Coopers Chartered Accountant |
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Address : |
257, Veersavarkar Marg, |
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Associates : |
· Kancor Colours Limited · OmniActive Health Technologies Limited ·
OmniActive Health Technologies Inc, |
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Subsidiaries : |
Kanmar Infrastructure Private Limited U45203KL2007PTC021367 |
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Entities whose control exists : |
JV Mariwala Family Trust (From October1, 2009) |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000000 |
Equity Shares |
Rs. 10/- each |
Rs.100.000 Millions |
|
5000000 |
Cumulative Redeemable Preference Shares |
Rs. 10/- each |
Rs. 50.000 Millions |
|
|
Total |
|
Rs.150.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
9360000 |
Equity Shares |
Rs. 10/-
each |
Rs.93.600 Millions |
Of the above
1560000 (PY. 1560000) Equity Share were issued
as fully paid bonus share by capitalization of Capital Redemption reserve.
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 |
|
|
|
|
|
1] Share Capital |
93.600 |
93.600 |
93.600 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
153.119 |
87.118 |
58.543 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
246.719 |
180.718 |
152.143 |
|
|
LOAN FUNDS |
|
|
|
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|
1] Secured Loans |
339.328 |
353.653 |
298.350 |
|
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2] Unsecured Loans |
25.973 |
18.663 |
24.583 |
|
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TOTAL BORROWING |
365.301 |
372.316 |
322.933 |
|
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DEFERRED TAX LIABILITIES |
23.611 |
17.194 |
15.425 |
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|
|
|
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|
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TOTAL |
635.631 |
570.228 |
490.501 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
212.942 |
174.497 |
161.037 |
|
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Capital work-in-progress |
9.814 |
45.593 |
34.473 |
|
|
|
|
|
|
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INVESTMENT |
27.027 |
26.977 |
26.975 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
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Inventories |
258.676
|
312.842 |
304.404 |
|
|
Sundry Debtors |
267.330
|
198.358 |
122.310 |
|
|
Cash & Bank Balances |
42.984
|
62.407 |
32.371 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
136.841
|
144.446 |
103.544 |
|
Total
Current Assets |
705.831
|
718.053 |
562.629 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
260.461
|
285.523 |
235.803 |
|
|
Other Current Liabilities |
14.751
|
67.597 |
41.067 |
|
|
Provisions |
44.771
|
41.772 |
17.743 |
|
Total
Current Liabilities |
319.983
|
394.892 |
294.613 |
|
|
Net Current Assets |
385.848
|
323.161 |
268.016 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
635.631 |
570.228 |
490.501 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1899.382 |
1781.407 |
1243.768 |
|
|
|
Export Benefits |
52.137 |
57.128 |
40.720 |
|
|
|
Other Income |
8.151 |
3.585 |
31.320 |
|
|
|
TOTAL (A) |
1959.670 |
1842.120 |
1315.808 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Materials |
1419.765 |
1365.110 |
1006.971 |
|
|
|
Staff Cost |
105.914 |
94.893 |
73.298 |
|
|
|
Manufacturing ands other expenses |
204.815 |
170.427 |
147.169 |
|
|
|
Exceptional Item – Expenses/ Income |
[17.895] |
40.275 |
0.000 |
|
|
|
TOTAL (B) |
1712.599 |
1670.705 |
1227.438 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
247.071 |
171.415 |
88.370 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
100.461 |
100.317 |
60.413 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
146.610 |
71.098 |
27.957 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
19.893 |
13.278 |
12.373 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
126.717 |
57.820 |
15.584 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
47.618 |
23.769 |
7.998 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
79.099 |
34.051 |
7.586 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
60.302 |
31.727 |
31.641 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
2.500 |
0.000 |
7.500 |
|
|
|
Proposed Dividend |
11.232 |
4.680 |
0.000 |
|
|
|
Corporate dividend tax |
1.866 |
0.796 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
123.803 |
60.302 |
31.727 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
8.45 |
3.64 |
0.81 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
4.04
|
1.85 |
0.58 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.67
|
3.25 |
1.25 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
13.79
|
6.48 |
2.15 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.51
|
0.32 |
0.10 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.78
|
4.25 |
4.06 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.21
|
1.82 |
1.91 |
LOCAL AGENCY FURTHER INFORMATION
HISTORY
The company is engaged in the manufacturer and export of spice oleoresins, spice oils, essential oils, natural colours and botanicals. Oleoresins are used in the various formulations, encapsulated ingredients, processed meats, sauces, gravy mixed, soups etc. The company sells its products to internationally known companies.
PERFORMANCE:
During the financial year 2009-10, the turnover increased from Rs.
1781.400 Millions in the previous year to Rs. 1899.300 Millions. the profit
after current tax was at Rs. 82.800 Millions compared to Rs. 34.051 Millions of
the previous year.
CONTINGENT
LIABILITIES NOT PROVIDED FOR:
|
Particulars |
31.03.2010 Rs
in Millions |
|
Guarantee issued by banks on behalf of the company |
7.976 |
|
Sales bill discounted by banks |
406.478 |
|
Sales tax demands disputed by the company |
0.441 |
|
Provident fund demand relating to contract labour disputed by the
company |
0.890 |
|
Excise duty demands disputed by company |
7.675 |
|
Service tax demands disputed by company |
1.341 |
|
Guarantees given to a bank in respect of credit facilities available
to an Associate Company |
122.000 |
|
Divisions |
Products |
|
Kancor Extracts |
|
|
Kancor Essentials |
|
|
Kancor Botanicals |
|
|
Kancor Nutraceuticals |
|
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U51909KL1990PLC005685 |
|
Name of the
company |
KANCOR
INGREDIENTS LIMITED |
|
Address of the
registered office or of the principal place of business in |
VII/138 P B No. 3Kanakkankadavu Road, Angamaly South, Ernakulam,
Kerala- 683573, |
|
This form is for |
Modification of
charge |
|
Charge identification
number of the charge to be modified |
90018145 |
|
Type of charge |
|
|
Particular of
charge holder |
State Bank of India (Lead Bank), Commercial Branch, 1st
Floor, Vankarath Towers, Bye Pass Junction Padivattom, Kochi-682024, Kerala,
India |
|
Nature of
instrument creating charge |
Joint deed of
hypothecation dated 10.08.2010 |
|
Date of
instrument Creating the charge |
10.08.2010 |
|
Amount secured by
the charge |
Rs. 1441.100
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest There is no
change in the existing terms and conditions Terms of Repayment There is no
change in the existing terms and conditions Margin As determined by
the bank Extent and Operation of the charge Hypothecation of
company’s current assets and movable fixed assets as security for the loan
sanctioned along with interest and other dues thereon Others State bank of |
|
Short particulars
of the property charged |
The whole of current
assets of the borrower namely stock of raw materials, stock in process, semi
finished and finished goods, consumables stores and spares, bills
receivables, book debts. Movable assets both present and future. |
|
Date of
instrument modifying the charge |
13.03.2010 |
|
Particulars of
the present modification |
On 10th
August 2010 the Existing consortium limits was raised to Rs. 1441.100
Millions consisting of
The existing
security of hypothecation of current and movable assets was extended to the
enhanced limits. |
|
This form is for |
Creation of
charge |
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|
Corporate
identity number of the company |
U51909KL1990PLC005685 |
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|
Name of the
company |
KANCOR
INGREDIENTS LIMITED |
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|
Address of the
registered office or of the principal place of business in |
VII/138 P B No. 3Kanakkankadavu Road, Angamaly South, Ernakulam, Kerala-
683573, |
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|
Type of charge |
Book Debts Movable Property |
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Particular of
charge holder |
State Bank of |
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Nature of description
of the instrument creating or modifying the charge |
|
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|
Date of
instrument Creating the charge |
15.03.2007 |
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|
Amount secured by
the charge |
Rs. 171.500
Millions |
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|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest
Terms of Repayment Term Loan of Rs.
30.000 Millions is repayable in quarterly installments of Rs. 1.500 Millions
each, commencing from 31.03.2007 and ending from 31.12.2012. Working Capital
facilities repayable on demand. Margin a) Raw Material – 10% b) Stocks-in-process- 10% c) Finished Goods – 10% d) Any other (specify)- 10% e) Book Debts/ recivables -10% f)
Land
and buildings/plant and machinery-NA Extent and Operation of the charge Hypothecation of
Company’s assets as security for the loans sanctioned along with interest and
other dues thereon. |
||||||||||||||||
|
Short particulars
of the property charged |
All present and
future goods, book-debts, and all other movable assets as per annexure
attached. |
||||||||||||||||
|
Name of the company |
KANCOR FLAVOURS
AND EXTRACTS LIMITED |
|
Presented By |
G. S. Narayan,
Manager, State Bank of Saurashtra, Crystal Complex, Near High Court Junction,
Banerji Road, Ernakulam, Cochin-682031 |
|
1) Date and description of instrument creating the change |
Pledge of Goods
to secure a Demand Cash Credit dated 15.07.2004 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 7.000
Millions |
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
All the raw
materials, semi finished goods, finished goods, stores/spares book debts and
current assets. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Interest @ 3.5%
over the state Bank of India rate subject to a minimum rate of interest of
7.5% p.a. Repayable on demand. |
|
5) Name and Address and description of the person entitled to the charge. |
State Bank of
Saurashtra, Crystal Complex, Near High Court Junction, Banerji Road,
Ernakulam, Cochin-682031 |
|
6) Date and brief description of instrument modifying the charge |
N.A. |
|
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
N.A. |
Fixed Assets:
·
·
·
Leasehold Improvements
·
Plant and Machinery
·
Furniture and Fixtures
·
Vehicles
·
Computer Software
·
Know how
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.45.27 |
|
|
1 |
Rs.73.34 |
|
Euro |
1 |
Rs.64.58 |
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 |
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 |
No |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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.