1. Summary Information
|
|
|
Country |
India |
|
Company Name |
GEA BGR Energy
System India Limited |
Principal Name 1 |
Mr. Balakrishnan G. Raghupathy |
|
Status |
Satisfactory |
Principal Name 2 |
Mrs. Sasikala Raghupathy |
|
|
|
Registration # |
18-64141 |
|
Street Address |
New No. 60 (Old No. 100), Abhiramapuram IV Street, Chennai – 600018,
Tamilnadu |
||
|
Established Date |
28.06.2007 |
SIC Code |
-- |
|
Telephone# |
91-44-24326171/ 27900181/ 27948549 |
Business Style 1 |
Supplier |
|
Fax # |
91-44-24364656/ 27948249 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Tube Cleaning System and Debris Filter on turnkey basis for Power and
Desalination Plants worldwide |
|
|
# of employees |
Not Available |
Product Name 2 |
-- |
|
Paid up capital |
Rs.50,500,000/- |
Product Name 3 |
-- |
|
Shareholders |
Directors or relatives of directors-
99.76% and Other top fifty shareholders- 0.24% |
Banking |
State Bank of India |
|
Public Limited Corp. |
NO |
Business Period |
4 years |
|
IPO |
NO |
International Ins. |
-- |
|
Public |
NO |
Rating |
Ba
(46) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Associates/
Subsidiaries : |
-- |
BGR Energy Systems Limited |
-- |
|
Note |
-- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
541,295,000 |
Current Liabilities |
316,136,000 |
|
Inventories |
148,667,000 |
Long-term Liabilities |
232,367,000 |
|
Fixed Assets |
26,421,000 |
Other Liabilities |
57,543,000 |
|
Deferred Assets |
0,000,000 |
Total Liabilities |
606,046,000 |
|
Invest& other Assets |
5,043,000 |
Retained Earnings |
64,819,000 |
|
|
|
Net Worth |
115,380,000 |
|
Total Assets |
721,426,000 |
Total Liab. & Equity |
721,426,000 |
|
Total Assets (Previous Year) |
549,675,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
553,962,000 |
Net Profit |
42,357,000 |
|
Sales(Previous yr) |
443,058,000 |
Net Profit(Prev.yr) |
29,783,000 |
MIRA
INFORM REPORT
|
Report Date : |
22.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
GEA BGR ENERGY SYSTEM INDIA LIMITED |
|
|
|
|
Registered
Office : |
New No. 60 (Old No. 100), Abhiramapuram IV Street, Chennai – 600018,
Tamilnadu |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
28.06.2007 |
|
|
|
|
Com. Reg. No.: |
18-64141 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.50.500
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U40105TN2007PLC064141 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHEG08678F |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Supplier of Tube Cleaning System and Debris Filter on turnkey basis
for Power and Desalination Plants worldwide |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 500000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to
be usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
|
|
|
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
New No. 60 (Old No. 100), Abhiramapuram IV Street, Chennai – 600018,
Tamilnadu, India |
|
Tel. No.: |
91-44-24326171/ 27900181/ 27948549 |
|
Fax No.: |
91-44-24364656/ 27948249 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
443 Anna Salai Teynampet, Chennai – 600018, India |
|
Tel. No.: |
91-44-24335958/ 24333412 |
|
Fax No.: |
91-44-24343374 |
|
|
|
|
Factory : |
A-5, Pannamgadu Industrial Estate, Ramapuram Post, Sulurpet Taluk,
Nellore District – 524401, Andhra Pradesh, India |
DIRECTORS
(AS ON 29.09.2010)
|
Name : |
Mr. Balakrishnan Govindaswamy Raghupathy |
|
Designation : |
Director |
|
Address : |
60 (Old No. 100), Abhiramapruam, |
|
Date of Birth/Age : |
28.09.1952 |
|
Date of Appointment : |
28.06.2007 |
|
|
|
|
Name : |
Mrs. Sasikala Raghupathy |
|
Designation : |
Director |
|
Address : |
60 (Old No. 100), Abhiramapruam, |
|
Date of Birth/Age : |
14.05.1956 |
|
Date of Appointment : |
28.06.2007 |
|
|
|
|
Name : |
Mr. Ramanujam Ramesh Kumar |
|
Designation : |
Director |
|
Address : |
14 (Old No. |
|
Date of Birth/Age : |
15.05.1962 |
|
Date of Appointment : |
28.06.2007 |
|
|
|
|
Name : |
Mr. |
|
Designation : |
Director |
|
Address : |
2, 4th Cross Street, Seethammal Colony, Chennai – 600018,
Tamilnadu, India |
|
Date of Birth/Age : |
15.05.1959 |
|
Date of Appointment : |
30.10.2008 |
|
Email : |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 29.09.2010)
|
Names of Shareholders |
|
No. of Shares |
|
B G Raghupathy |
|
5004000 |
|
Saskikala Raghupathy |
|
10000 |
|
R Swarnamugi |
|
6000 |
|
|
|
6000 |
|
A Swaminathan |
|
6000 |
|
V R Mahadevan |
|
6000 |
|
R Ramesh Kumar |
|
6000 |
|
R Priyadarshini |
|
6000 |
|
|
|
|
|
Total |
|
5050000 |
Equity Share Breakup (Percentage of Total Equity)
(AS ON 30.09.2010)
|
Category |
|
Percentage |
|
Directors or relatives of directors |
|
99.76 |
|
Other top fifty shareholders |
|
0.24 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Supplier of Tube Cleaning System and Debris Filter on turnkey basis for
Power and Desalination Plants worldwide |
||||||
|
|
|
||||||
|
Products : |
|
PRODUCTION STATUS- (AS ON 31.03.2010)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
|
|
|
|
|
|
Tube Cleaning System |
Nos. |
NA |
75 |
74 |
|
Debris Filter |
Nos |
NA |
75 |
42 |
|
|
|
|
|
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Bankers : |
· State Bank of India, Settipalli Branch, Chittor
District, Tirupati-517506, Andhra Pradesh, India |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
R V Chander and Associates Chartered Accountant |
|
Address : |
“Kalpataru”, No. 87, |
|
|
|
|
Associates/Subsidiaries : |
·
BGR Energy Systems Limited ·
Progen Systems and Technologies Limited ·
Schmitz India Private Limited ·
BGR Enertech Sdn. ·
Cuddalore PopwerGen Corporation Limited ·
Germanischer Lloyd Industrial Services India
Private Limited ·
Sasikala Estate Private Limited ·
Mega Funds India Limited ·
GEA Cooling Tower Technologies ( ·
Vindiana Wines Private Limited |
CAPITAL STRUCTURE
AS ON 29.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6000000 |
Equity Share |
Rs.10/- each |
Rs.60.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5050000 |
Equity Share |
Rs.10/- each |
Rs.50.500
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 |
50.500 |
50.500 |
0.500 |
|
|
2] Share Application Money |
0.061 |
0.061 |
50.061 |
|
|
3] Reserves & Surplus |
64.819 |
34.278 |
16.311 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
115.380 |
84.839 |
66.872 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
90.867 |
95.922 |
4.492 |
|
|
2] Unsecured Loans |
141.500 |
157.500 |
459.000 |
|
|
TOTAL BORROWING |
232.367 |
253.422 |
463.492 |
|
|
DEFERRED TAX LIABILITIES |
12.295 |
6.153 |
3.113 |
|
|
|
|
|
|
|
|
TOTAL |
360.042 |
344.414 |
533.477 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
26.421 |
25.060 |
21.799 |
|
|
Capital work-in-progress |
5.043 |
4.924 |
0.049 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
148.667
|
91.011
|
96.283 |
|
|
Sundry Debtors |
415.918
|
357.826
|
246.611 |
|
|
Cash & Bank Balances |
74.168
|
32.837
|
70.323 |
|
|
Other Current Assets |
0.265
|
0.726
|
0.049 |
|
|
Loans & Advances |
50.944
|
37.291
|
232.422 |
|
Total
Current Assets |
689.962
|
519.691
|
645.688 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
316.136
|
181.035
|
80.490 |
|
|
Other Current Liabilities |
0.000
|
0.000
|
42.476 |
|
|
Provisions |
45.248
|
24.226
|
11.093 |
|
Total
Current Liabilities |
361.384
|
205.261
|
134.059 |
|
|
Net Current Assets |
328.578
|
314.430
|
511.629 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
360.042 |
344.414 |
533.477 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income (Turnover) |
553.962 |
443.058 |
320.580 |
|
|
|
Other Income |
1.618 |
10.084 |
0.000 |
|
|
|
TOTAL (A) |
555.580 |
453.142 |
320.580 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials |
305.215 |
259.139 |
178.345 |
|
|
|
Cost of Manufacture |
19.373 |
13.768 |
18.003 |
|
|
|
Administrative Expenses |
108.432 |
82.908 |
69.919 |
|
|
|
Selling Expenses |
22.536 |
18.101 |
10.946 |
|
|
|
Increase/Decrease in Stock |
(7.609) |
18.711 |
[1.002] |
|
|
|
TOTAL (B) |
447.947 |
392.627 |
276.211 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
107.633 |
60.515 |
44.369 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
35.683 |
12.884 |
7.470 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
71.950 |
47.631 |
36.899 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
2.429 |
2.012 |
5.826 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
69.521 |
45.619 |
31.073 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
27.164 |
15.836 |
14.762 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
42.357 |
29.783 |
16.311 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
4.236 |
2.978 |
-- |
|
|
|
Proposed Dividend |
10.100 |
10.100 |
-- |
|
|
|
Corporate Dividend Tax |
1.716 |
1.716 |
-- |
|
|
BALANCE CARRIED
TO THE B/S |
26.305 |
14.989 |
-- |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
203.355 |
137.772 |
102.920 |
|
|
TOTAL EARNINGS |
203.355 |
137.772 |
102.920 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials, Components and Consumables |
81.025 |
16.127 |
11.465 |
|
|
TOTAL IMPORTS |
81.025 |
16.127 |
11.465 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
8.39 |
5.90 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
7.62
|
6.57 |
5.09 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
12.55
|
10.30 |
9.69 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.70
|
8.37 |
4.66 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.60
|
0.54 |
0.46 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
5.15
|
5.41 |
8.94 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.91
|
2.53 |
4.82 |
LOCAL AGENCY FURTHER INFORMATION
FINANCIAL PERFORMANCE:
The company achieved a turnover of Rs.554.000
Millions and profit before tax and profit after tax of Rs.69.500 Millions and
Rs.42.400 Millions respectively.
BUSINESS PERFORMANCE AND FUTURE OUTLOOK:
The Company successfully executed contracts for various
domestic and International clients viz., BHEL, TATA Power, BGR Energy, MPGCL,
Ansaldo, Sozidine, Power Machines, Metka. The outlook for the year ahead looks
promising as major PSU clients and other major power EPCs are gearing up to
place orders for condenser On load tube cleaning system in large numbers. The
company is looking forward to a milestone year with respect to order booking.
The business potential in India are attracting aggressive competition from both
domestic and overseas players and the company with its proven experience and
track record and unique market position is confident of facing competition and
sustain its market leadership. Independent power producers (IPPs) are also
offering good opportunities and the Company is looking forward to high
prospects in the years to come.
CONTINGENT LIABILITIES:
There are no claims against the company
acknowledged as a dept.
Letter of credit as on March 31, 2010 is
Rs.15.563 Millions (Rs.12.682 Millions)
Bank Guarantee as on March 31, 2010 is
Rs.143.437 Millions (Rs.112.396 Millions)
Bankers Charges Report
as per Registry
|
Corporate
identity number of the company |
U40105TN2007PLC064141 |
|
Name of the
company |
GEA BGR ENERGY SYSTEM INDIA LIMITED |
|
Address of the
registered office or of the principal place of business in |
New No. 60 (Old No. 100), Abhiramapuram IV Street, Chennai-600018,
Tamilnadu, India |
|
This form is for |
Creation of
Charge |
|
Type of charge |
Immovable Property |
|
Particular of
charge holder |
State Bank of Settipalli Branch, Chittor Disstrict, Tirupati-517506, Andhra Pradesh,
India |
|
Nature of
instrument creating charge |
Form C-9-
Memorandum of Deposit for Creation of charge for term loan/ overall limit |
|
Date of
instrument Creating the charge |
20.10.2009 |
|
Amount secured by
the charge |
Rs.350.000
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest a) Cash Credit (Hypothecation) – at SBAR
(i.e.) at 13.75% % p.a. with monthly rest. b) EPC- at 2.75% below SBAR (i.e.) at 11.00%
p.a. with monthly rests Terms of
Repayment Repayable on
demand. The facility, which has been sanctioned on 15.05.2008, is available
for 12 months subject to review every six months, when it may be cancelled/
reduced depending upon the conduct and
utilization of the advance, or as per the banks scheme. Margin a) Cash Credit (Raw Material, Stock and
finished goods) – 20% b) Cash Credit (Receivables) – 30% c) Letter of Credit and Bank Guarantee – 15% d) EPC – 15% Extent and
Operation of the charge Second charge on
immovable properties situated at |
|
Short particulars
of the property charged |
All those piece
and parcel of the land measuring an extent of 19772.29 sq.yds (16518.20
s.mts) comprising of in Plot No. A4, A5, A6, A7 and E7 at IDA Pannamgadu
Village within panchayat limits of Ramapuram, Tada Mandalam Sullupret Taluk,
Nellore District in the state of Andhr Pradesh together with all building and
structures thereon and all plant and machinery. |
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixtures
·
Computers
·
Office Equipments
·
Electrical Installation
·
Vehicles
·
Goodwill
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 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
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 |
NO |
|
--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.