Business
information report
1. Summary Information
|
|
|
Country |
India |
|
Company Name |
VARROC POLYMERS PRIVATE LIMITED |
Principal Name 1 |
Mr. Tarang Naresh Jain |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Rajiv Devinder singh Sahney |
|
|
|
Registration # |
11-90037 |
|
Street Address |
GUT No. 99, Village Pharola, Taluka Paithan, Aurangabad 431 105,
Maharashtra |
||
|
Established Date |
20.06.1995 |
SIC Code |
-- |
|
Telephone# |
91 2431 251625-26 |
Business Style 1 |
Manufacturer of
Automotive parts. |
|
Fax # |
91 2431 251627 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Plastic Moulded Goods |
|
|
# of employees |
150 (Approximately) |
Product Name 2 |
Automobile Seat Assembly |
|
Paid up capital |
Rs.32,635,000
|
Product Name 3 |
Sheets of Polymers of Styrene |
|
Shareholders |
Directors or Relatives of Directors 100% |
Banking |
Saraswat Co-Operative Bank Limited |
|
Public Limited Corp. |
-- |
Business Period |
16 years |
|
IPO |
-- |
International Ins. |
- |
|
Public |
-- |
Rating |
Ba (54) |
|
Related
Company |
|||
|
Relation |
Subsidiaries |
Company Name |
Varroc Engineering Private Limited |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
1,224,768,000 |
Current Liabilities |
1,164,133,000 |
|
Inventories |
307,366,000 |
Long-term Liabilities |
828,119,000 |
|
Fixed Assets |
1,610,971,000 |
Other Liabilities |
108,242,000 |
|
Deferred Assets |
0 |
Total Liabilities |
2,100,494,000 |
|
Invest& other Assets |
538,613,000 |
Retained Earnings |
1,548,589,000 |
|
|
0 |
Net Worth |
1,581,224,000 |
|
Total Assets |
3,681,718,000 |
Total Liab. & Equity |
3,681,718,000 |
|
Total Assets (Previous Year) |
2,847,663,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
6,019,714,000 |
Net Profit |
301,850,000 |
|
Sales(Previous yr) |
4,706,661,000 |
Net Profit(Prev.yr) |
158,188,000 |
MIRA
INFORM REPORT
|
Report Date : |
20.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
VARROC POLYMERS PRIVATE LIMITED |
|
|
|
|
Registered Office : |
GUT No. 99, Village Pharola, Taluka Paithan, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
20.06.1995 |
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|
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Com. Reg. No.: |
11-90037 |
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|
|
|
Capital Investment / Paid-up Capital : |
Rs.32.635 Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U25209MH1995PTC090037 |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business : |
Manufacturer of
Automotive parts. |
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|
|
|
No. of Employees : |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 6324000 |
|
|
|
|
Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well
established and reputed company having satisfactory track. Directors are reported
as experienced and respectable businessmen. Trade relations are fair.
Business is active. Payments are usually correct and as per commitments. The company can
be considered normal for business dealings at usual trade terms and
conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION DECLINED BY
|
Name : |
Mr. Anil Malhotra |
|
Designation : |
Assistance Vice President Finance |
LOCATIONS
|
Registered Office / Factory : |
Gut No. 99, Village Pharola, Taluka Paithan, |
|
Tel. No.: |
91 2431 251625-26 |
|
Fax No.: |
91 2431 251627 |
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E-Mail : |
|
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Website : |
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Location : |
Owned |
|
Area : |
5000 Sq. ft. |
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|
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Corporate Office : |
E – 4, MIDC Industail Area, Waluj, |
|
Tel. No.: |
91-240-2556227 |
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Fax No.: |
91-240-2564540 |
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|
|
Units : |
VPPL-I
VPPL-II
VPPL-III
VPPL-GN
|
DIRECTORS
As on 23.08.2010
|
Name : |
Mr. Naresh Adishwarlal Chandra |
|
Designation : |
Director |
|
Address : |
Bhagwati Bhavan, 31, M L Dahanukar Marg, Mumbai 400 026, |
|
Date of Birth/Age : |
11.02.1935 |
|
Date of Appointment : |
28.06.1995 |
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Name : |
Mr. Tarang Naresh Jain |
|
Designation : |
Managing Director |
|
Qualification : |
MBA |
|
Address : |
Halcyon, Gut 41 (P), Opp WALMI, |
|
Date of Birth/Age : |
21.03.1962 |
|
Date of Appointment : |
28.06.1995 |
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Other Directorships : |
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|
Name : |
Mr. Rajiv Devinder singh Sahney |
|
Designation : |
Director |
|
Qualification : |
Graduate |
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Address : |
50, Ushakiran, |
|
Date of Birth/Age : |
06.09.1962 |
|
Date of Appointment : |
25.06.2008 |
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Name : |
Mr. Shantaram Narayan Patil |
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Designation : |
Director |
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Qualification : |
BSC |
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Address : |
14, Mayureah New SBH Cloony, NR Jyoti NGR, Aurangabad – 431005,
Maharashtra |
|
Date of Birth/Age : |
16.01.1954 |
|
Date of Appointment : |
04.12.2009 |
KEY EXECUTIVES
|
Name : |
Mr. Anil Ghatiya |
|
Designation : |
Company Secretary |
|
Address : |
E – 14, Chanakya Puri, |
|
Date of Birth/Age : |
09.03.1980 |
|
Date of Appointment : |
01.01.2005 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2009
|
Names of Shareholders |
No. of Shares |
|
Mr. Naresh Chandra, Mumbai |
692101 |
|
Mr. Tarang Jain, |
1264501 |
|
Tarang Jain and Rochana Jain, |
406900 |
|
Naresh Chandra and Suman Jain, |
182601 |
|
Suman Jain and Naresh Chandra, Mumbai |
78400 |
|
Suman Jain, Mumbai |
630000 |
|
Tarang Jain HUF, |
4500 |
|
Naresh Chandra HUF, Mumbai |
4500 |
|
|
|
|
Total |
3263503 |
Equity Share Break up as on 30.09.2009
|
Category |
Percentage |
|
Directors or Relatives of Directors |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of
Automotive parts. |
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Products : |
|
PRODUCTION STATUS AS ON 31.03.2010
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Plastic Moulded Components |
MT |
-- |
34532 |
16032 |
|
Extrusion Sheets |
MT |
-- |
10800 |
5606 |
|
|
Nos. |
-- |
7264000 |
3771911 |
|
Air Filter Assembly |
Nos. |
-- |
3500000 |
2239619 |
|
Mirror Assembly |
Nos. |
-- |
7250000 |
6839865 |
|
Tools |
|
|
450 |
57 |
GENERAL INFORMATION
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Bankers : |
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Customers : |
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No. of Employees : |
150 (Approximately) |
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Facilities : |
Note: 1.Rupee Term Loans from The Saraswat Co-operative Bank Limited are
secured by first exclusive charge by way of hypothecation of movable fixed
assets of the Company both present and future located at Pharola, Dist.
Aurangabad and equitable mortgage of immovable properties of the Company
located at at Pharola, Dist. Aurangabad. 2 Rupee Term Loans from IDBI Bank Limited are secured by first
exclusive charge by way of hypothecation of movable fixed assets of the
Company both present and future located at Greater Noida & Binola Plant
(s) and equitable mortgage of immovable properties of the Company located at
Greater Noida & Binola Plants. 3 Rupee Term Loans availed for purchase of the Vehicle from IDBI Bank
Limited is secured by Hypothecation of the Vehicle to be purchased. 4 Working capital facilities availed from the Banks are secured by
first paripassu charge by way of hypothecation of stocks of Raw Materials,
Stock in Process, Finished Goods, Consumable Stores & Spares, Packing
Materials and Receivables of the Company both present and future. 5 The securities furnished to the Banks except The Saraswat
Co-operative Bank Limited for availing various Term Loans and Letter of
Credit facilities still continue as per pre-restructuring position since
documentation is pending with regard to availment of the said credit
facilities. |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Price Waterhouse and Company Chartered Accountants |
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Address : |
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Subsidiaries : |
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Associate / Joint Venture : |
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CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs. 10/- each |
Rs. 30.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2932003 |
Equity Shares |
Rs. 10/-
each |
Rs. 29.320
millions |
|
331500 |
Share Capital pending allotment |
Rs. 10/-
each |
Rs. 3.315
millions |
|
|
Total |
|
Rs.32.635 Millions |
Note:
Of the above 331500 Equity Shares of Rs. 10 /-
each to be alloted to shareholder of Varroc Engineering Private Limited with
out payment in cash in terms of composite scheme of arrangement effective from
1st April, 2009.
As on 23.08.2010 :
Authorised Capital : Rs.35.000 Millions
Issued, Subscribed & Paid-up Capital : Rs.32.635 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 |
|
|
|
|
|
1] Share Capital |
32.635 |
29.320 |
2.800 |
|
|
2] Share Application Money |
0.000 |
0.000 |
26.520 |
|
|
3] Reserves & Surplus |
1548.589 |
1126.793 |
982.847 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1581.224 |
1156.113 |
1012.167 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
635.861 |
596.642 |
464.797 |
|
|
2] Unsecured Loans |
192.258 |
170.712 |
126.208 |
|
|
TOTAL BORROWING |
828.119 |
767.354 |
591.005 |
|
|
DEFERRED TAX LIABILITIES |
108.242 |
95.064 |
83.871 |
|
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|
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|
|
|
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TOTAL |
2517.585 |
2018.531 |
1687.043 |
|
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|
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|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
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FIXED ASSETS [Net Block] |
1610.971 |
1267.697 |
1122.373 |
|
|
Capital work-in-progress |
42.358 |
16.411 |
64.742 |
|
|
|
|
|
|
|
|
INVESTMENT |
496.255 |
380.455 |
14.305 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
307.366
|
205.312
|
159.291 |
|
|
Sundry Debtors |
1012.974
|
744.570
|
339.604 |
|
|
Cash & Bank Balances |
126.554
|
78.592
|
63.744 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
85.240
|
154.626
|
677.009 |
|
Total
Current Assets |
1532.134
|
1183.100 |
1239.648 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
973.395
|
756.237
|
693.464 |
|
|
Current Liabilities |
126.441
|
33.677
|
27.878 |
|
|
Provisions |
64.297
|
39.218
|
31.683 |
|
Total
Current Liabilities |
1164.133
|
829.132
|
754.025 |
|
|
Net Current Assets |
368.001
|
353.968
|
485.623 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2517.585 |
2018.531 |
1687.043 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales and Other Income |
6019.714 |
4706.661 |
4388.123 |
|
|
|
TOTAL (A) |
6019.714 |
4706.661 |
4388.123 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
5302.370 |
4236.966 |
3983.196 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
5302.370 |
4236.966 |
3983.196 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
717.344 |
469.695 |
404.927 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
72.020 |
80.302 |
59.256 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
645.324 |
389.393 |
345.671 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
182.772 |
145.436 |
(150.613) |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
462.552 |
243.957 |
496.285 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
|
|
|
|
|
|
|
301.850 |
158.188 |
324.728 |
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
|
|
|
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
192.283 |
67.066 |
56.745 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
30.175 |
15.820 |
300.000 |
|
|
|
Dividend |
16.318 |
14.660 |
12.314 |
|
|
|
Tax on Dividend |
2.710 |
2.491 |
2.093 |
|
|
BALANCE CARRIED
TO THE B/S |
444.930 |
192.283 |
67.066 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
102.95 |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
5.01
|
3.36
|
7.40 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
7.68
|
5.18
|
11.31 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
30.19
|
9.95
|
21.01 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.29
|
0.21
|
0.49 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.73
|
1.38
|
1.33 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.31
|
1.43
|
1.64 |
LOCAL AGENCY FURTHER INFORMATION
PERFORMANCE
Due to strong domestic OE customer base, the company was able to buck
the general trend of recession that prevailed during the first half of the
year.
Consequent upon addition of certain capital equipment in plastic mouldig
and seat assembly division, sales quantities in the year under review went up
by 36% and 32% respectively in these divisions. Owing to spurt in demand, the
sale of mirror assemblies jumped by 60% as compared to last year.
The Technology Development Centre has been hived off from Varroc
Engineering Private Limited and marged with the company from the appointed
date i.e, 1st April, 2009 in
terms of scheme of Arrangement duly approved by Hon;ble high Court of
Judicature at Bombay.
As such , while comparing performance with last year, They have to keep
in mind that the net sales and other Income of TDC comprising of Tool Room and
R and D Centre forms 2.52% of the total Net Sales and Other Income during the
year under review.
Owing to the above and also as a result of increased off take by
customers, the net sales and other income rose by 28% to Rs.602.000 millions
from Rs. 471.000 Millions. The Cost of Raw Materials came down From 73% to 70%
as percentage to net sales. The Selling and Administration Expenses were
marginally higher by around 1.3% of Net Sales compared to last year. The
Cumulative effect war that PBT rose by 90% to Rs. 462.600 Millions from Rs.
244.000 Millions last year. PAT also correspondingly increased by 91% to Rs.
301.900 Millions from Rs. 158.200 Millions. The significant improvement in the
bottom line can be attributed to various measures taken to control cost and
improve efficiencies.
The Directors consider the performance of the company during the year as
commendable.
FORM 8:
|
Corporate identity
number of the company |
U25209MH1995PTC090037 |
|
Name of the
company |
VARROC POLYMERS
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
GUT NPO 99
VILLAGEPHAROLA TALUKA PAITHAN |
|
This form is for |
Creation of
charge |
|
Type of charge |
Movable Property |
|
Particular of
charge holder |
IDBI BANK
LIMITED, |
|
Nature of
instrument creating charge |
DEED OF
HYPOTHECATION |
|
Date of
instrument Creating the charge |
20.11.2010 |
|
Amount secured by
the charge |
20.000 Million |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest
: USANCE/COMMITMENT CHARGES: 0.50% P.A. PLUS SERVICE TAX PAYABLE UPFRONT Terms of
Repayment : HONOURING OF COMMITMENTS ON DUE DATE Margin : 10% CASH
MARGIN Extent and Operation of the charge : The Borrower Do Hereby Hypothecate By Way Of Exclusive Charge Whole Of
The Movable Properties Of The Borrower (Save And Except Book Debts) Including
Movable Plant & Machinery, Machinery Spares, Tools And Accessories, Both
Present And Future Lying And Being At Borrower's Place Of Business At 35-A,
Udyog Vihar, Gr. Noida And 58th Mile Stone, Opp. Mittal Orchards, Village
Binola, Dist. Gurgaon, Haryana |
|
Short particulars
of the property charged |
1) An Exclusive
Charge By Way Of Hypothecation Of All The Borrower's Movables (Save And
Except Book Debts) Including Movable Machinery, Machinery Spares, Tools And
Accessories, Present And Future, 2) In Respect Of The Borrower's Units
Situated At 35-A, Udyog Vihar, Greater Noida In The State Of Uttar Pradesh
And 58th Mile Stone, Opp Mittal Orchards, Village Binola Dist Gurgaon In
State Of Haryana |
FIXED ASSETS:
- Plant and
Machinery
- Factory
Equipments
- Electrical
Installation
- Computers
- Mould and
Dies
- Electrical
Fittings
- Vehicles
- Furniture and
Fixtures
- Office
Equipments
- Software
- User right for
expenses Feeder Line
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.45.61 |
|
|
1 |
Rs.75.32 |
|
Euro |
1 |
Rs.65.68 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
54 |
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.