MIRA
INFORM REPORT
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Report Date : |
26.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
SE ELECTRICALS LIMITED [w.e.f. 30.01.2009] |
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Formerly Known As : |
SUZLON ELECTRICALS INTERNATIONAL LIMITED |
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Registered Office : |
3rd Floor, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
12.12.2006 |
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Com. Reg. No.: |
08-41190 |
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Capital Investment
/ Paid-up Capital : |
Rs.959.000 Millions |
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CIN No.: [Company
Identification No.] |
U31108KA2006PLC041190 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRS24691C |
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PAN No.: [Permanent
Account No.] |
AAKCS4715P |
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Legal Form : |
A Closely Held Public Limited Liability Company. |
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Line of Business : |
Manufacturing of Generator for Making WTG, Control and Hub Panel. |
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No. of Employees
: |
In Office + in Factory Approximately / Not Available / Not Divulged by
Management |
RATING & COMMENTS
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MIRA’s Rating : |
B (35) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 4140000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of Suzlon Energy Limited. It is an established
company having moderate track. Trade relations are reported as fair. Business
is active. Payments are reported to be slow but correct The company can be considered for business dealings with some
cautions. |
NOTES: Any query related to this
report can be made on e-mail: infodept@mirainform.com
while quoting report number, nam e and date.
LOCATIONS
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Registered Office : |
3rd Floor, |
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Tel. No.: |
91-80-22249270 |
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Fax No.: |
91-80-22249117 |
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E-Mail : |
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Website : |
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Corporate Office 1: |
Karumathpatti, Generator Unit, Old No.2, Suzlon, Sez A, |
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Tel. No.: |
91-422-2214792 |
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Fax No.: |
91-422-2214792 |
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Corporate Office 2: |
806, |
DIRECTORS
As on 01.09.2010
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Name : |
Mr. Vinod R. Tanti |
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Designation : |
Director |
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Address : |
A-901, S Silver Woods Mundhwa, Pune – 411036, |
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Date of Birth/Age : |
29.06.1962 |
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Date of Appointment : |
12.12.2006 |
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DIN : |
00002266 |
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Name : |
Mr. Jitendra R. Tanti |
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Designation : |
Director |
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Address : |
A-1102, S Silver Woods Mundhwa, Pune – 411036, |
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Date of Birth/Age : |
13.04.1964 |
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Date of Appointment : |
12.12.2006 |
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DIN : |
00002257 |
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Name : |
Mr. Amarsinh Abhaysinh Parmar |
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Designation : |
Managing Director |
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Address : |
Plot No.36, Acacia – 1, |
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Date of Birth/Age : |
15.05.1950 |
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Date of Appointment : |
01.04.2010 |
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DIN : |
00028602 |
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Name : |
Mr. Tulsi R. Tanti |
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Designation : |
Director |
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Address : |
A-902, S Silver Woods Mundhwa, Pune – 411036, |
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Date of Birth/Age : |
02.02.1958 |
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Date of Appointment : |
12.12.2006 |
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Date of Cessation : |
01.04.2010 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 01.09.2010
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Names of Shareholders |
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No. of Shares (Equity) |
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Suzlon Energy Limited, |
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9999940 |
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Tulsi R. Tanti J/w Suzlon Energy Limited, |
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10 |
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Girish R. Tanti J/w Suzlon Energy Limited, |
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10 |
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Vinod R. Tanti J/w Suzlon Energy Limited, |
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10 |
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Jitendra R. Tanti J/w Suzlon Energy Limited, |
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10 |
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Gita T. Tanti J/w Suzlon Energy Limited, |
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10 |
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Sangita V. Tanti J/w Suzlon Energy Limited, |
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10 |
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Total |
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10000000 |
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Names of Shareholders |
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No. of Shares (Preference) |
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Suzlon Energy Limited, |
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8590000 |
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Total |
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8590000 |
As on 01.09.2010
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Category |
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Percentage |
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Bodies corporate |
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100.00 |
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Total
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|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing of Generator for Making WTG, Control and Hub Panel. |
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Products : |
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Services Offered : |
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PRODUCTION STATUS (As on 31.03.2010)
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Particulars |
Unit |
Actual Production |
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Generators |
Nos. |
400 |
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Control Panel Units |
Nos. |
215 |
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Hub Panel |
Nos. |
226 |
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Transformer |
Nos. |
341 |
Licensed and installed capacities
Licensed capacity - The
products manufactured and sold by the Company i.e, WTG's and components
have not been Included In the list of mandatory items, which require a license
under the New Industrial Policy In terms of Notification no. S.O.477 (E) dated
25th July, 1991; and hence, licensing requirements are not applicable to the
products manufactured by the Company.
Installed capacity - The
installed capacities are not precisely ascertainable, given the nature of
operations, changes in product mix and utilization of manufacturing facilities;
and hence, have not been disclosed.
GENERAL INFORMATION
|
Bankers : |
·
State Bank of Specialised Commercial Branch, 1st Floor, ·
HDFC Bank Limited ·
State Bank of ·
Dena
Bank ·
EXIM
Bank ·
Saraswat
Bank ·
Citi
Bank ·
Corporation
Bank ·
ICICI
Bank ·
Axis
Bank |
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Facilities : |
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Banking
Relations : |
-- |
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Financial
Institution : |
SBICAP Trustee Company Limited, 202, Maker Tower, 'E',
Cuffe Parade, Colaba,, Mumbai - 400005, Maharashtra, India |
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Auditors : |
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Name : |
SNK and Company Chartered Accountant |
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Address : |
E-2-B, The Fifth Avenue, Dhole Patil Road, Near Regency Hotel, Pune –
411001, Maharashtra, India |
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Holding Company : |
·
Suzlon Energy Limited CIN : L40100GJ1995PLC025447 |
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Fellow Subsidiaries : |
· Suzlon Wind International Limited · SE Composites Limited · Suzlon Wind Energy Corporation · Suzlon Infrastructure Services Limited · Suzlion Generators Limited · SE Forge Limited · SE Shipping Lines Pte Limited ·
Suzlon
Energy ( ·
Suzlon
Energy Australia Pty Limited ·
Suzlon
Wind Energy A/s.
·
Suzlon
Wind Energy ·
Suzlon
Wind Enerjl San. Ve Tic. Limited ·
Suzlon
Wind Energy Espana S.LU ·
Suzlon
Wind Energy · Synefra Engineering and Construction Limited |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10,000,000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
|
20,000,000 |
Cumulative Redeemable Preference Shares |
Rs.100/- each |
Rs.2000.000 Millions |
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Total |
|
Rs.2100.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10,000,000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
|
8,590,000 |
9% Cumulative Redeemable Preference Shares |
Rs.100/- each |
Rs.859.000 Millions |
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Total |
|
Rs.959.000
Millions |
Note : 10,000,000 Equity shares of Rs.10/- each are
held by Suzlon Energy Limited, the holding company with its nominees
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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|
|
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1] Share Capital |
959.000 |
781.000 |
200.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
77.677 |
20.180 |
0.000 |
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|
4] (Accumulated Losses) |
0.000 |
0.000 |
(7.057) |
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NETWORTH |
1036.677 |
801.180 |
192.943 |
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LOAN FUNDS |
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1] Secured Loans |
201.130 |
199.308 |
0.000 |
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2] Unsecured Loans |
832.087 |
0.000 |
0.000 |
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TOTAL BORROWING |
1033.217 |
199.308 |
0.000 |
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DEFERRED TAX LIABILITIES |
59.136 |
19.809 |
0.000 |
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TOTAL |
2129.030 |
1020.297 |
192.943 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1477.326 |
1459.357 |
2.023 |
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Capital work-in-progress |
63.098 |
104.636 |
257.886 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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|
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Inventories |
590.836
|
259.451
|
0.000 |
|
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Sundry Debtors |
994.413
|
263.916
|
0.000 |
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Cash & Bank Balances |
198.946
|
79.629
|
0.000 |
|
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Other Current Assets |
0.000
|
0.000
|
22.032 |
|
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Loans & Advances |
87.880
|
51.810
|
5.592 |
|
Total
Current Assets |
1872.075
|
654.806
|
27.624 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
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Current Liabilities |
13.748
|
110.790
|
80.499 |
|
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Sundry Creditors |
1257.086
|
1083.653
|
13.383 |
|
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Provisions |
12.635
|
4.059
|
0.708 |
|
Total
Current Liabilities |
1283.469
|
1198.502
|
94.590 |
|
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Net Current Assets |
588.606
|
(543.696)
|
(66.966) |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
2129.030 |
1020.297 |
192.943 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
|
|
|
|
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|
|
Income |
2407.032 |
1067.710 |
0.000 |
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|
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Other Income |
5.814 |
4.401 |
0.000 |
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|
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TOTAL (A) |
2412.846 |
1072.111 |
0.000 |
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|
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Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of goods sold |
1860.273 |
753.602 |
0.000 |
|
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|
Operating and other Administrative Expenses |
163.103 |
120.746 |
6.105 |
|
|
|
Employee remuneration and benefits |
95.971 |
47.628 |
0.000 |
|
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TOTAL (B) |
2119.347 |
921.976 |
6.105 |
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Less |
PROFIT/LOSS
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
293.499 |
150.135 |
[6.105] |
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|
|
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Less |
FINANCIAL
EXPENSES (D) |
119.690 |
56.640 |
0.000 |
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PROFIT/LOSS
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
173.809 |
93.495 |
[6.105] |
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|
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
71.587 |
45.379 |
0.000 |
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|
PROFIT / LOSS
BEFORE TAX (E-F) (G) |
102.222 |
48.116 |
[6.105] |
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|
|
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Less |
TAX (I) |
44.725 |
20.879 |
0.161 |
|
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|
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PROFIT / LOSS
AFTER TAX (G-I) (J) |
57.497 |
27.237 |
[6.266] |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
20.180 |
[7.057] |
[0.791] |
|
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|
|
|
|
|
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|
BALANCE CARRIED
TO THE B/S |
77.677 |
20.180 |
[7.057] |
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EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Export |
672.555 |
146.928 |
-- |
|
|
TOTAL EARNINGS |
672.555 |
146.928 |
NA |
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IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
467.081 |
375.359 |
-- |
|
|
|
Stores & Spares |
0.582 |
1.992 |
-- |
|
|
|
Capital Goods |
0.632 |
163.792 |
1.048 |
|
|
TOTAL IMPORTS |
468.295 |
541.143 |
1.048 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
[1.66] |
[1.68] |
[2.95] |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
2.38
|
2.54
|
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.25
|
4.51
|
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.05
|
2.28
|
(20.59) |
|
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|
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|
Return on Investment (ROI) (PBT/Networth) |
|
0.10
|
0.06
|
(0.03) |
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Debt Equity Ratio (Total Liability/Networth) |
|
2.23
|
1.74
|
0.49 |
|
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|
|
|
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|
Current Ratio (Current Asset/Current Liability) |
|
1.46
|
0.55
|
0.29 |
LOCAL AGENCY FURTHER INFORMATION
Note : Registered office
address of the company has been shifted from 101-A, 1st Floor, Prestige Towers,
100, Residency Road, Bangalore – 560025, Karnataka, India to the present
address w.e.f. 01.11.2010
Nature
of Operations
Subject is engaged In the manufacture of Generators, Transformers and Control Panels for Wind
Turbine Generators (WTGs).
The manufacturing
Facilities For Generators and Control Panels are set up as "Units in
Notified SEZ" at Coimbatore in the State of Tamilnadu and the Company has
obtained an approval From the development commissioner For setting up the
manufacturing facilities as "Units In the Notified SEZ" vide fetter
Mo G/2/2007/Suilon Infra dated 18th September, 2007.
During the year, the
Company has acquired the Transformer unit from Suzlon Infrastructure and Services
Limited, a group company, effective October 1, 2009, The manufacturing
Facilities for Transformer are set up as non-SEZ units and are situated at
Contingent
Liabilities :
Rs. In millions
|
Particulars |
31.03.2010 |
31.03.2009 |
|
Preference share Dividend
and tax thereon |
118.175 |
44.056 |
|
Import duty |
0.927 |
0.927 |
|
Excise and service tax
matters In appeal |
0.767 |
0.000 |
|
Claims against the
company not acknowledged as debts |
15.079 |
0.000 |
|
Guarantees given by the
Company |
Note B |
NA |
|
Others |
2.998 |
0.000 |
|
Total |
137.947 |
44.983 |
Note :
a) The Government of India
with a view to curtail the Increasing price of steel products Imposed an export
duty of 15% from May 2008, on TMT steel bars used in
construction, industry; and the Authorities held that the supplies to Special
Economic Zones from Domestic tariff area are to be treated as exports and took
the view that such supplies would attract export duty (Import customs duty from
SEZ unit holder's perspective). The Company being an 5EZ
unit holder, the Government of India has demanded Import customs duty from the
Company on the imports of TMT steel bars for use in the construction of
the plant end buildings In the SEZ notified area vide letter F No. 6/2/2003 -
SEZ (pt) dated 30.06.2008. The Company has filed writ petition in the High
Court of Madras in this regard for which stay/extension orders have been
granted to the Company by the High Court, However If at the time of hearing,
the verdict is not In favour of the Company, the Company would have to pay
Rs.0.927 millions as at
March 21, 2010.
b) The
company has stood as co- guarantor For certain loans granted to holding company
and fellow subsidiaries.
FORM 8
|
Corporate
identity number of the company |
U31108KA2006PLC041190 |
|
Name of the
company |
SE Electricals
Limited |
|
Address of the
registered office or of the principal place of business in |
101-A, 1st Floor,
|
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
10209916 |
|
Type of charge |
|
|
Particular of
charge holder |
SBICAP Trustee Company Limited, 202, Maker Tower, 'E',
Cuffe Parade, Colaba,, Mumbai - 400005, Maharashtra, India |
|
Nature of
instrument creating charge |
Deed of
Hypothecation dated 12th May 2010 executed between the Company and the
Security Trustee |
|
Date of
instrument Creating the charge |
12.05.2010 |
|
Amount secured by
the charge |
Rs.133468.345
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Terms of
repayment – (1) Working Capital
Facility - (a) Fund based - repayable on demand subject to a moratorium of 24
months; (b) Non-fund based - repayable on demand.. (2) Corporate
Guarantee for securing Foreign Currency Facility - 30th September 2015. Margin – (A) Fund based
Working Capital Facility - (1) Raw materials (domestic/imported) - 25%, (2)
SIP/FG/Stores, Spares - 25%, (3) Domestic Receivables - 25%, Cover Period -
150 days for the first year and 135 days for second year onwards, (4) Export
receivables - 10%, Cover Period - 240 days for first year and 210 days for
second year onwards, (5) EPC/PCFC - 10% of the FOB value of order; (B) Non-fund
based Working Capital Facility - 5%; (C) Term Loan -
Nil; (D) Corporate
Guarantee - Nil. Extent and
Operations of the charge - First charge on a pari passu basis has been
created in favour of the Trustee over the assets, whose details are for the
benefit of the Lenders, whose details are as mentioned in the Deed of
Hypothecation as also as per "List of Lenders" as annexed hereto. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Movable plant and
machinery All rights,
title, interest, benefit, claims and demands whatsoever of the Company in,
to, under and / or in respect of the Material Contracts All the rights,
title, interest, benefit, claims and demands whatsoever of the Company in,
to, under and / or in respect of the Insurance Contracts All rights,
title, interest, benefit, claims and demands whatsoever of the Company's
Accounts Current Assets |
|
Particulars of
the present modification |
the security on
pari passu basis for the aggregate financial assistance of Rs.133468.345
millions including the fresh sanction by Dena Bank, EXIM Bank, Saraswat Bank,
Citi Bank, Corporation Bank, ICICI, Axis Bank and Power Finance of Rs.730.000
millions, Rs.2000.000 millions, Rs.500.000 millions, Rs.860.000 millions,
Rs.700.000 millions, Rs.3500.000 millions, Rs.2900.000 millions &
Rs.8270.000 millions respectively. |
FORM 8:
|
Corporate
identity number of the company |
U31108KA2006PLC041190 |
|
Name of the
company |
SE Electricals
Limited |
|
Address of the
registered office or of the principal place of business in |
101-A, 1st Floor,
|
|
This form is for |
Creation of charge |
|
Type of charge |
Book debts Movable property (not being pledge) Floating charge |
|
Particular of
charge holder |
State Bank of Overseas Branch,
Amrit Jayanthi Bhavan, Navjivan Post Office, Ahmedabad – 380014, |
|
Nature of
instrument creating charge |
Deed of
Hypothecation dated 4th December 2009 |
|
Date of
instrument Creating the charge |
04.12.2009 |
|
Amount secured by
the charge |
Rs.20000.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of
Interests: Since there is
non fund based borrowing, rate of interest is not applicable Terms of
repayment: The Letter of
Comfort Facility would stand terminated once the Financial Assistance of USD
465 million by State Bank of Margin: Since there is
non fund based borrowing, margin is not applicable Extent and
Operations of the charge: The charge
operates as security, inter alia, for securing of State Bank of |
|
Particulars of
the property charged |
Movable plant and
machinery All the rights,
title, interest, benefit, claims and demands whatsoever of the Obligors in,
to, under and / or in respect of the Insurance Contracts All rights, title,
interest, benefit, claims and demands whatsoever of the Obligors' Accounts Current Assets |
FIXED ASSETS:
·
Land – Leasehold
·
Building
·
Plant and Machinery
·
Furniture and Fixture
·
Office Equipment
·
Computers
As per Website
Profile
An ISO 9000 : 2008 approved
firm, putting forth a gamut of world class Electrical Panels, Electronic
Panels, Automation Panels, Generators (690 V-50 Hz), Transformers (600 V-60
Hz), etc......
An Overview
Everyone is well aware of the power crisis prevailing in the world and
an exhaustive research is being conducted to find an apt solution to the
problem. In this regard, the contribution made by SE Electricals Limited is phenomenal.
Here, not only a gamut of power efficient panels and control systems are developed
but also a large number of such products are imported from
The company is a noted manufacturer, exporter, and supplier of a wide range of top
class Electrical Panels, Electronic Panels, Automation Panels, Generators (690
V-50 Hz), Transformers (600 V-60 Hz), and many more. As an importer, they import high quality ACBs,
MCCBs, MCBs, Contactors, Cables, Relays, Drives, Starters, PLCs, Controllers,
MPCBs, Fuses, SDFs, etc. specially from Europe. Besides
catering a huge collection of Electronic Panels and Control Systems, the
company is also known as a trusted service provider offering AMC and
Condition Monitoring of
Windmill Control Systems
with Thermograph, Power Analyzer, and Acoustic Detectors.
On the basis of their quality commitment, assured customer satisfaction,
transparent business policy, etc., they have won the trust of hundreds of
customers from all over the world. their export markets are well established in
countries like
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.46.12 |
|
|
1 |
Rs.75.51 |
|
Euro |
1 |
Rs.66.52 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
35 |
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.