MIRA
INFORM REPORT
|
Report Date : |
26.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
INNOVATIVE TYRES AND TUBES LIMITED |
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Registered
Office : |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
28.11.1995 |
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Com. Reg. No.: |
11-94817 |
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Capital
Investment / Paid-up Capital : |
Rs.78.431 Millions |
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|
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CIN No.: [Company Identification
No.] |
u25112mh1995plc094817 |
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|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
manufacturer
of automotive tires and tubes |
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 89590 |
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an 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 – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
|
|
Tel. No.: |
91-2676-220621 / |
|
Fax No.: |
91-2676-220869 |
|
E-Mail : |
innovativetyres@gmail.com
/ innovativetyres@sify.com
/
nitin@innivativetyres.co.in / auto@tionale.com.sg
/ mukesh@innovativetyres.co.in
|
|
Website : |
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Plant 1 : |
Producing Butyl Tubes |
|
Address : |
1704, G.I.D.C, Halol – 383 950. Panchmahal, |
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Tel. No.: |
91-2676-224021 / 223221 |
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Fax No.: |
91-2676-220869 |
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E-Mail : |
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Plant 2 : |
Tire Plant |
|
Address : |
1201, 1202, 1203, G.I.D.C Halol – 383 950, |
|
Tel. No.: |
91-2676-220621 |
|
Fax No.: |
91-2676-220869 |
|
E-Mail : |
|
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|
|
|
Administrative Office : |
42-A, Purshottamnagar, Near Urmi Char Rasta, Opposite Dr.
Kadam’s |
|
Tel. No.: |
91-265-2343679 / 2322803 |
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Fax No.: |
91-265-2339468 |
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E-Mail : |
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International
Sales Office : |
Tionale Enterprises
Pte Limited, |
|
Tel. No.: |
(65) 6338 8496 |
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Fax No.: |
(65) 6338 8201 |
|
E-Mail : |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Narendra Ramanlal Shah |
|
Designation : |
Director |
|
Address : |
23, Vrindavan Society, |
|
Date of Birth/Age : |
02.08.1941 |
|
Date of Appointment : |
28.11.1995 |
|
|
|
|
Name : |
Mr. Kalpesh Jayantilal Shah |
|
Designation : |
Director |
|
Address : |
70, sampatrao Colony, |
|
Date of Birth/Age : |
30.06.1972 |
|
Date of Appointment : |
28.11.1995 |
|
|
|
|
Name : |
Mr. Bipin Chandrakant Mankad |
|
Designation : |
Director |
|
Address : |
C/8, Bansuri Flat, |
|
Date of Birth/Age : |
19.10.1951 |
|
Date of Appointment : |
28.11.1995 |
|
DIN No.: |
00089527 |
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|
|
|
Name : |
Mr. Chandravadan Keshavlal Shah |
|
Designation : |
Director |
|
Address : |
18, Amin Nagar Chhani, Baroada – 390002, |
|
Date of Birth/Age : |
12.11.1940 |
|
Date of Appointment : |
28.11.1995 |
|
|
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|
Name : |
Mr. Mukesh Gunvantrai Desai |
|
Designation : |
Director |
|
Address : |
15, Saraswati Society, Opposite Ruturaj Complex, Saiyed Vasna road,
Baroda – 390021, |
|
Date of Birth/Age : |
26.02.1956 |
|
Date of Appointment : |
01.04.2000 |
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|
|
|
Name : |
Mr. Nitin Jayantilal Mankad |
|
Designation : |
Director |
|
Address : |
6/A, J P Nagar, |
|
Date of Birth/Age : |
27.091949 |
|
Date of Appointment : |
22.08.2008 |
|
DIN No.: |
00089701 |
|
|
|
|
Name : |
Mr. Girish madhubhai Patel |
|
Designation : |
Director |
|
Address : |
6, Krishnagar Dhybar Colony, Opposite Polo Ground, Vadodara – 390 001,
|
|
Date of Birth/Age : |
15.06.1944 |
|
Date of Appointment : |
30.10.2006 |
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|
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|
Name : |
Mr. Palghat Balakrishnan Ananda Padmanabhan |
|
Designation : |
Director |
|
Address : |
A-1, Mohanna 96, |
|
Date of Birth/Age : |
17.04.1962 |
|
Date of Appointment : |
30.10.2006 |
|
|
|
|
Name : |
Mr. Narayanan Subramanian |
|
Designation : |
Director |
|
Address : |
1-56, Villa Thulai, New Number - 13, |
|
Date of Birth/Age : |
30.10.1961 |
|
Date of Appointment : |
30.10.2006 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Nitin Jayantilal Mankad Minakshi Nitin Mankad |
|
277,300 |
|
Minakshi Nitin Mankad Nitin Jayantilal Mankad |
|
220,410 |
|
Rachit Nitinbhai Mankad Nitin Jayantilal Mankad |
|
95,000 |
|
Riddhi Nitin Mankad Nitin Jayantilal Mankad |
|
25,000 |
|
Nilaben Jayantilal Mankld Nitin Jayantilal Mankad |
|
45,000 |
|
Sanjay Jayantilal Mankad Vaihsli Sanjay Mankad |
|
221,660 |
|
Vaishali Sanjay Mankad Sanjay Jayantilal Mankad |
|
35,000 |
|
Bipin Chandrakant Mankad Bina Bipin Mankad |
|
178,310 |
|
Bina Bipin Mankad Bipin Chandrakant Mankad |
|
17,500 |
|
Bina B. Mankad (JoinShares) Minakshi Nitin Mnakad Vaishali Sanjay
Mankad |
|
31,180 |
|
Mukesh Gunvantrai Desai Kashmira Mukesh Desai |
|
126,400 |
|
Kashmira Mukesh Desai Mukesh Gunvantrai Desai |
|
75,000 |
|
Chandravadan Keshavlal Shah Sharmisthben Chandravadan Shah |
|
700,010 |
|
Narendra Ramanlal Shah Indl Bindu Narendra Shah |
|
377,410 |
|
Narendra Ramanlal Shah (HUF) |
|
163,000 |
|
Bindu Nnarendra Shah Narendra Ramanlal Shah |
|
190,000 |
|
Pritee Narendra Shah Narendra Ramanlal Shah |
|
61,000 |
|
Sheetal Narendra Shah Narendra Ramanlal Shah |
|
64,000 |
|
Kalpesh Jayantilal Shah Vaishali Kalpesh Shah |
|
10 |
|
Market Creators Limited |
|
1,003,790 |
|
Girish Madhusudan Patel Sheila Girish Patel |
|
50,010 |
|
Vrajesh Madhusudan Patel Trusha Vrajesh Patel |
|
43,000 |
|
Ashwin Indravadan Mehta |
|
10 |
|
Maxim Gold Development Limited |
|
3843137 |
|
TOTAL |
|
7,843,137 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2010
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
31.08 |
|
Bodies corporate |
12.80 |
|
Directors or relatives of Directors |
56.12 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
manufacturer
of automotive tires and tubes |
PRODUCTION STATUS
As on 31.03.2011
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
|
Nos. |
|
1800000 |
-- |
|
Tube |
Nos. |
|
1440000 |
-- |
|
Job Work |
|
|
|
|
|
|
Nos. |
|
-- |
1037890 |
|
Tube |
Nos. |
|
-- |
793928 |
|
Flaps |
Nos. |
|
-- |
11035 |
|
Own |
|
|
|
|
|
|
Nos. |
|
-- |
98568 |
|
Tube |
Nos. |
|
-- |
116185 |
|
Flaps |
Nos. |
|
-- |
81140 |
GENERAL INFORMATION
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Parikh Mehta and Associates Chartered Accountant |
|
Address : |
Happy Home Apartment No.2,230, Sampatrao Colony, Rc Dutt Road,
Vadodara – 390007, Gujarat, India |
|
PAN.: |
ABHVPB2716Q |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8,000,000 |
Equity Shares |
Rs.10/- each |
Rs.80.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7,843,137 |
Equity Shares |
Rs.10/- each |
Rs.78.431 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 |
78.431 |
54.054 |
54.054 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
145.549 |
87.765 |
86.307 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
223.98 |
141.819 |
140.361 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
113.201 |
118.518 |
133.822 |
|
|
2] Unsecured Loans |
71.875 |
43.070 |
39.259 |
|
|
TOTAL BORROWING |
185.076 |
161.588 |
173.081 |
|
|
DEFERRED TAX LIABILITIES |
29.769 |
29.259 |
23.659 |
|
|
|
|
|
|
|
|
TOTAL |
438.825 |
332.666 |
337.101 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
246.032 |
260.299 |
154.828 |
|
|
Capital work-in-progress |
97.413 |
38.253 |
122.090 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.033 |
0.033 |
0.033 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
58.321
|
30.134 |
20.635
|
|
|
Sundry Debtors |
48.634
|
33.873 |
30.893
|
|
|
Cash & Bank Balances |
44.221
|
4.455 |
9.529
|
|
|
Other Current Assets |
0.000
|
0.000 |
0.000
|
|
|
Loans & Advances |
37.714
|
27.565 |
26.308
|
|
Total
Current Assets |
188.890
|
96.027 |
87.365 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
85.092
|
55.082 |
23.415
|
|
|
Other Current Liabilities |
4.323
|
5.015 |
1.289
|
|
|
Provisions |
4.128
|
2.049 |
2.910
|
|
Total
Current Liabilities |
93.543
|
62.146 |
27.614 |
|
|
Net Current Assets |
95.347
|
33.881 |
59.751
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.200 |
0.399 |
|
|
|
|
|
|
|
|
TOTAL |
438.825 |
332.666 |
337.101 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
659.268 |
359.169 |
219.027 |
|
|
|
Other Income |
4.903 |
3.526 |
1.227 |
|
|
|
TOTAL (A) |
664.171 |
362.695 |
220.254 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing Expenses |
232.846 |
139.444 |
91.077 |
|
|
|
Administrative Expenses |
10.133 |
7.645 |
7.839 |
|
|
|
Selling and Distribution Expenses |
10.812 |
4.188 |
1.912 |
|
|
|
Other Expenses |
375.535 |
179.210 |
86.786 |
|
|
|
TOTAL (B) |
629.326 |
330.487 |
187.614 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
34.845 |
32.208 |
32.64 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
10.453 |
11.355 |
8.021 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
24.392 |
20.853 |
24.619 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
16.756 |
12.644 |
11.278 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
7.636 |
8.209 |
13.341 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
2.036 |
6.231 |
8.308 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
5.600 |
1.978 |
5.033 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
45.597 |
43.618 |
38.585 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
51.197 |
45.597 |
43.618 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
|
|
|
|
|
|
Commission Earnings |
NA |
NA |
NA |
|
|
|
Other Earnings |
NA |
NA |
NA |
|
|
TOTAL EARNINGS |
396.151 |
150.503 |
56.966 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
0.84
|
0.55 |
2.27 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.16
|
2.29 |
6.09 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.76
|
2.30 |
5.51 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03
|
0.06 |
0.10 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.24
|
0.54 |
1.43 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.02
|
1.55 |
3.16 |
LOCAL AGENCY FURTHER INFORMATION
FORM 8 :
|
Corporate
identity number of the company |
u25112mh1995plc094817 |
|
Name of the
company |
INNOVATIVE TYRES AND TUBES LIMITED |
|
Address of the
registered office or of the principal place of business in |
Email id : innovativetyres@gmail.com |
|
This form is for |
Modification of
charge |
|
Charge
identification (ID) number of the charge to be modified |
80051359 |
|
Type of charge |
Immovable property |
|
Particular of
charge holder |
State Bank of Email Id : vikash_kumar@sbi.co.in |
|
Nature of
instrument creating charge |
Memorandum relating
to deposit of title deeds for creation of further charge for overall limit
where the initial charges is created by way of mortgage by Deposit by Title
Deeds |
|
Date of
instrument Creating the charge |
30.12.2010 |
|
Amount secured by
the charge |
Rs.378.100
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest: CC-Hypothecation
of - 5.00% above base rate with monthly rest, TL-III (New) - 7.25% above base
rate with monthly rest (with biennial reset clause), TL-I (O/s)-4.90% above
base rate, TL-II (O/s)-5.65% above base rate. Terms
of repayment: TL-I & TL-II
- As per existing terms and conditions, TL-III (New) - 2011-12 - 2 Monthly
installment of Rs.2.250 Millions each, 2012-13 - 12 Monthly installment of
Rs.2.250 Millions each, 2013-14 - 12 Monthly installment of Rs.2.250 Millions
each, 2014-15 - 12 Monthly installment of Rs.2.250 Millions each, 2015-16 -
12 Monthly installment of Rs.2.250 Millions each, 2016-17 - 08 Monthly
installment of Rs.2.250 Millions each, 2016-17 - 1 Monthly installment of
Rs.4.500 Millions First Installment due in February 2012 and Last Installment
due in December 2016 Margin Raw Material -
25%, Stock in Process - 30%, Finished Goods - 40%, Book Debts (Cover Period
90 days for receivable), L/C, BG - 20%, EPC - 10% of FOB value, Term Loan -
42.26% Extent and Operation of the charge Equitable
Mortgage of immovable properties being Plot of Land in Panchmahal,
Sub-District - Panchmahal, Mouje Kanjari bearing R.S.No.1583/P paiki Plot
No.1704 adm. 11200 Sq. Mtrs. in GIDC, Halol and Plot of Land in Pachmahal,
Sub-District - Panchmahal, Mouje - Chandrapura bearing R.S.No.1559/P, 1560/P
& 2422/P paiki plot no. 1201, 1202 & 1203 adm. 27833 sq. mtrs. in
GIDC, Halol. Others Credit Facilities
- CC-Hypothecation - Rs.90.000 Millions + EPC/EBD/IBD(within CC limit) -
Rs.(90.000) Millions + TL-I(O/s) - Rs.0.600 Millions + TL-II(O/s) - Rs.42.500
Millions + TL-III(New) - Rs.135.000 Millions + LC - Rs.100.000 Millions + BG
- Rs.10.0 Millions = Aggregating to Rs.378.100 Millions |
|
Short particulars
of the property charged (Including location of the property) |
Equitable
Mortgage of immovable properties being (1)
Plot
of Land in Panchmahal, Sub-District - Panchmahal, Mouje Kanjari bearing
R.S.No.1583/P paiki Plot No.1704 adm. 11200 Sq. Mtrs. in GIDC, Halol (2)
Plot
of Land in Pachmahal, Sub-District - Panchmahal, Mouje - Chandrapura bearing
R.S.No.1559/P, 1560/P and 2422/P paiki plot no. 1201, 1202 and 1203 adm.
27833 sq. mtrs. in GIDC, Halol. |
|
Particulars of
the present modification |
By this
modification the charge extended to cover revised credit facilities to
Rs.378.1 Millions (Credit Facilities - CC-Hypothecations - Rs.90.0 Millions +
EPC/EBD/IBD(within CC limit) - Rs.(90.000) Millions + TL-I(O/s) - Rs.0.600
Millions + TL-II(O/s) - Rs.42.500 Millions + TL-III(New) - Rs.135.0 Millions
+ LC - Rs.100.0 Millions + BG - Rs.10.000 Millions = Aggregating to
Rs.378.100 Millions) By this execution the credit facilities has been shifted
from SBI – Spe..Comm. Branch, Vadodara to SBI-IFB, Vadodara |
FIXED ASSETS :
·
· Building
· Electrical Installation
· Plant and Machinery
· Computers
· Office Equipments
· Vehicles
· Furniture and Fixtures
· Laboratory Equipment
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.46.05 |
|
|
1 |
Rs.75.20 |
|
Euro |
1 |
Rs.66.48 |
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 |
|
|
--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 |
|
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.