MIRA
INFORM REPORT
|
Report Date : |
09.12.2011 |
|
|
|
|
Tel. No.: |
91-11-42395700 |
|
Fax No.: |
91-11-41609189 |
IDENTIFICATION DETAILS
|
Name : |
RFCL LIMITED
(w.e.f 17.11.2006) |
|
|
|
|
Formerly Known As : |
RANBAXY FINE
CHEMICALS LIMITED |
|
|
|
|
Registered Office : |
A-3, Okhla Industrial Area, Phase - 1, |
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|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
22.01.1991 |
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|
|
|
Com. Reg. No.: |
55-175849 |
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|
|
|
Capital Investment / Paid-up Capital : |
Rs.71.863 Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U24209DL1991PLC175849 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
PTLR11106E |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AABCR7314N |
|
|
|
|
Legal Form : |
A Closely Held
Public Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturer of
chemicals, reagents and fine chemicals. |
|
|
|
|
No. of Employees : |
300
(Approximately) (40 – In Office + 260 – In Factory) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (63) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 3000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
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|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is a well
established company having satisfactory track. Financial position is
satisfactory. The company’s entire shares has been brought by the Avantor
Performance Materials Mauritius II Limited. 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 good for normal 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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
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. Rambathu |
|
Designation : |
Account Department |
|
Date : |
09.12.2011 |
LOCATIONS
|
Registered Office/ Factory : |
A-3, Okhla Industrial Area, Phase - 1, |
|
Tel. No.: |
91-11-42395700 / 702 / 41609171-75 / 42122702 |
|
Fax No.: |
91-11-41609189 / 26813676 |
|
E-Mail : |
|
|
Website : |
http://www.rfcl.in |
|
|
|
|
Branch Office : |
Locate at: · Ahmedabad · Ambala ·
·
·
· Orrisa ·
·
·
· Guwahati · Secunderabad ·
· Jaipur · Kolkata ·
·
· Chatisgarh ·
·
· Chennai · Vadodara · Uttaranchal |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Sushil Mehta |
|
Designation : |
Managing director |
|
Address : |
MA-1/6-2A, Garden Estate, DLF Phase-3, Gurgaon-122001, |
|
Date of Birth/Age : |
09.03.1957 |
|
Qualification : |
Postgraduate in Microbiology |
|
Date of Appointment : |
06.12.2005 |
|
DIN No. : |
01010831 |
Other Directorship
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date of
appointment |
Date of
cessation |
Company Status |
Defaulting
status |
|
1 |
U24209DL1991PLC175849 |
RFCL Limited |
Managing
director |
06-12-10 |
06-12-05 |
- |
Active |
NO |
|
2 |
U24231TN1991PTC020695 |
Alved Pharma
Foods Private Limited |
Director |
04-02-08 |
04-02-08 |
- |
Amalgamated |
NO |
|
3 |
U93000MH2007PLC203686 |
Pfizer Animal
Health India Limited |
Director |
10-10-08 |
10-10-08 |
01-12-09 |
Active |
NO |
|
|
|
|
Name : |
Mr. Robert Harrer |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
05.12.1964 |
|
Date of Appointment : |
28.02.2011 |
|
DIN No. : |
03392531 |
Other Directorship
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date of
appointment |
Company Status |
Defaulting
status |
|
1 |
U24209DL1991PLC175849 |
RFCL Limited |
Director |
30-09-11 |
28-02-11 |
Active |
NO |
|
|
|
|
Name : |
Mr. Paul Gerard Corbett |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
17.05.1959 |
|
Date of Appointment : |
28.02.2011 |
|
DIN No. : |
03343768 |
Other Directorship
|
S.No. |
CIN |
Name of the
Company |
Current designation
of the director |
Date of
appointment at current designation |
Original date of
appointment |
Company Status |
Defaulting
status |
|
1 |
U51109MH2009PTC191942 |
J.T. Baker
Chemicals Private Limited |
Director |
30-09-11 |
28-01-11 |
Active |
NO |
|
2 |
U24209DL1991PLC175849 |
RFCL Limited |
Director |
30-09-11 |
28-02-11 |
Active |
NO |
|
|
|
|
Name : |
Mr. Abhijit Date |
|
Designation : |
Director |
|
Address : |
2/18, Indu Baug, |
|
Date of Birth/Age : |
30.06.1978 |
|
Date of Appointment : |
28.02.2011 |
|
DIN No. : |
03273998 |
Other Directorship
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date of
appointment |
Company Status |
Defaulting
status |
|
1 |
U51109MH2009PTC191942 |
J.T. Baker Chemicals
Private Limited |
Director |
30-09-11 |
13-10-10 |
Active |
NO |
|
2 |
U24209DL1991PLC175849 |
RFCL Limited |
Director |
30-09-11 |
28-02-11 |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Mr. Ashok Kumar Jain |
|
Designation : |
Company Secretary |
|
Address : |
K – 298, Sarita Vihar, |
|
Date of Birth/Age : |
02.07.1966 |
|
Date of Appointment : |
01.12.2006 |
|
Pan No.: |
ADIPJ8199G |
|
|
|
|
Name : |
Mr. Rambathu |
|
Designation : |
Account Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Avantor Performance Materials Mauritius II Limited, |
|
7186305 |
|
Avantor Performance Materials Sdn. |
|
1 |
|
Avantor Performance Materials Mauritius Limited, |
|
1 |
|
Avantor Performance Materials B.V., The |
|
1 |
|
Avantor Performance Materials Holdings B.V., The |
|
1 |
|
Avantor Performance Materials Cayman Limited, |
|
1 |
|
Avantor Performance Materials Holdings S.A., |
|
1 |
|
Total |
|
7186311 |
As on 30.09.2011
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Foreign holdings [Foreign institutional investors, Foreign
Companies, Foreign Financial Institutions, Non-resident Indian or Overseas
corporate bodies or others] |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of
chemicals, reagents and fine chemicals. |
||||
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|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
300 (Approximately)
(40 – In Office + 260 – In Factory) |
||||||||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||||||||
|
Bankers : |
·
Punjab
National Bank, ·
ANZ
Grindlays Bank Limited, H-Block, ·
·
YES
Bank Limited, 9th Floor, Nehru Centre, Discovery of ·
ICICI
Bank – Branch Alkapuri, Vadodara – 390015, ·
ICICI
Bank Limited – |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins
and Sells Chartered
Accountants |
|
Address : |
7th |
|
Tel. No.: |
91-124-6792000 |
|
Fax No.: |
91-124-6792012 |
|
Website: |
|
|
DIN No. : |
AABFD0295B |
|
|
|
|
Holding Entity : |
IDBI Trusteeship
service Limited (India Advantage Fund-I) acting through its Fund Manager, ICICI
Venture Funds Management Company Limited |
|
|
|
|
Subsidiary Company / Step-down Subsidiary Company : |
·
Vetnex Animal Health Limited (VAHL) (Till 23rd
November 2009) ·
·
·
Bremer Pharma GMBH, |
CAPITAL STRUCTURE
As on 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000000 |
Equity Shars |
Rs.10/- each |
Rs.100.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
7186311 |
Equity Shares |
Rs.10/- each |
Rs. 71.863
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 |
71.863 |
65.745 |
65.745 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
679.896 |
555.885 |
1174.299 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
751.759 |
621.630 |
1240.044 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
642.056 |
722.139 |
927.669 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
642.056 |
722.139 |
927.669 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
9.387 |
|
|
|
|
|
|
|
|
TOTAL |
1393.815 |
1343.769 |
2177.100 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
298.133 |
228.996 |
715.184 |
|
|
Capital work-in-progress |
41.655 |
65.133 |
134.470 |
|
|
|
|
|
|
|
|
INVESTMENT |
116.499 |
0.500 |
114.019 |
|
|
DEFERREX TAX ASSETS |
21.424 |
6.252 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
455.403
|
535.521
|
575.209 |
|
|
Sundry Debtors |
591.138
|
545.102
|
620.696 |
|
|
Cash & Bank Balances |
229.573
|
165.219
|
466.875 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
191.101
|
192.655
|
184.852 |
|
Total
Current Assets |
1467.215
|
1438.497
|
1847.632 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
454.550
|
331.440
|
560.763 |
|
|
Current Liabilities |
74.514
|
42.685
|
49.174 |
|
|
Provisions |
22.047
|
21.484
|
24.268 |
|
Total
Current Liabilities |
551.111
|
395.609
|
634.205 |
|
|
Net Current Assets |
916.104
|
1042.888
|
1213.427 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1393.815 |
1343.769 |
2177.100 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2375.498 |
2508.929 |
2702.599 |
|
|
|
Other Income |
47.563 |
16.317 |
62.098 |
|
|
|
TOTAL (A) |
2423.061 |
2525.246 |
2764.697 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of goods sold |
1609.538 |
1504.051 |
1633.657 |
|
|
|
Personnel Costs |
226.980 |
226.137 |
252.981 |
|
|
|
Manufacturing, administration and other expenses |
389.242 |
414.173 |
421.679 |
|
|
|
TOTAL (B) |
2225.760 |
2144.361 |
2308.317 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
197.301 |
380.885 |
456.380 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
110.336 |
89.162 |
35.356 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
86.965 |
291.723 |
421.024 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
70.854 |
68.943 |
100.948 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
16.111 |
222.780 |
320.076 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
4.678 |
79.701 |
120.053 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
11.433 |
143.079 |
200.023 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
472.374 |
329.295 |
130.138 |
|
|
|
|
|
|
|
|
|
|
Retirement
benefit transitional liability |
0.000 |
0.000 |
0.866 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
483.807 |
472.374 |
329.295 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
52.714 |
75.198 |
63.796 |
|
|
|
Agency Commission |
56.951 |
27.793 |
18.594 |
|
|
|
Other Earnings |
0.000 |
16.000 |
10.327 |
|
|
TOTAL EARNINGS |
109.665 |
118.991 |
92.717 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
268.420 |
220.895 |
89.679 |
|
|
|
Finished Goods |
535.740 |
468.727 |
426.390 |
|
|
|
Capital Goods |
0.000 |
3.087 |
14.685 |
|
|
TOTAL IMPORTS |
804.160 |
692.709 |
530.754 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
- Basic |
1.74 |
21.74 |
30.75 |
|
|
|
- Diluted |
1.74 |
20.79 |
29.34 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total
Income |
(%) |
0.47 |
5.67 |
7.23 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.68 |
9.01 |
11.84 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.91 |
13.36 |
12.49 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02 |
0.36 |
0.26 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.59 |
1.80 |
1.26 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.66 |
3.64 |
2.91 |
LOCAL AGENCY FURTHER INFORMATION
NOTE
The Registered
Office of the company has been shifted from Village Ganguwala Paonta Sahib, District
Sirmour – 173 025,
BACKGROUND
Subject was
incorporated on 22.01.1991 in the name of Ranbaxy Bio Chemicals Limited. The
name of the Company was changed to Ranbaxy Fine Chemicals Limited on 26.02.1996
and further to RFCL Limited on 17.11.2006. Pursuant to a business purchase
agreement entered into with Ranbaxy Laboratories Limited on 30.09.2005, the
Animal Health Care and Diagnostic Business Divisions were taken over by the
Company as a going concern on a slump sale basis with effect from 30.11.2005.
Pursuant to the
Composite scheme of Arrangement, Amalgamation and Reconstruction under Section
391 to 394 of the Companies Act,1956 between the Company, Vetnex Animal Health Limited
(VAHL) and Alved Pharma and Foods Private Limited, the entire Vetnex Division
of the Company is de-merged and stands transferred and vests in VAHL with
effect from April 1, 2008.
OPERATIONS
The Company recorded
a sales of Rs.2423.000 millions as against Rs.2525.000 millions in the previous
year. The dip in revenue was owing to unforeseen and dramatic price movements
with regards to the realization price in Acetonitrile products. Acetonitrile
products prices rose unusually high as a global phenomenon and similarly
dropped back to pre rise levels in FY 10 .The Company carried high cost
inventory and lost margins in selling dealing with the same.
Therefore the
Company's PBJDT is down to Rs.197.000 Millions as against Rs.381.000 Millions of previous year. The PAT also got
affected substantially and is at Rs.11.000 Millions against Rs.143.000 Millions of previous year.
CONTINGENT
LIABILITIES
|
Particulars |
As on 31.03.2010 Rs. in millions |
|
Guarantees furnished to banks |
27.112 |
|
Excise duty liability |
18.410 |
|
Sales tax and Trade tax liability |
10.677 |
FORM 8
|
Corporate
identity number of the company |
U24209DL1991PLC175849 |
|
Name of the
company |
RFCL LIMITED |
|
Address of the
registered office or of the principal place of business in |
A-3, Okhla Industrial Area, Phase - 1, |
|
This form is for |
Creation of charge |
|
Type of charge |
Book debts Others Inventories, movable
assets held as current assets |
|
Particular of
charge holder |
ICICI Bank Limited
CIN No.: L65190GJ1994PLC021012
E-Mail : shanthi.venkatesan@icicibank.com
|
|
Date of
instrument Creating the charge |
02.09.2011 |
|
Amount secured by
the charge |
Rs.300.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of interest CC=sum of I Base
and "spread" per annum i.e ( Current I Base is 9.50% + Spread is
4.18%)=13.68% PA WCDL=sum of I
Base and "spread" per annum i.e ( Current I Base is 9.50% + Spread
is 3.30%)=12.80% PA Terms of repayment On Demand Margin Book Debts = 40% Extent and operation of the charge First and pari passu charge by way of
hypothecation of the company's entire stocks of raw materials, semi-finished
and finished goods, consumable stores and spares and such other movables
including book-debts, bills whether documentary or clean, outstanding monies
receivables both present and future. |
|
Short particulars
of the property charged |
Entire stocks of
RM,GIP,SFG and FG, consumable stores and spares and other movables including
book-debts, bills whether documentary or clean, both present and future. |
FIXED ASSETS
·
Land
·
·
Leasehold Improvements
·
Plant and Machinery:
·
Factory Plant and Machinery
·
Computer and Software
·
Office equipment
·
Furniture and Fixtures
·
Vehicles
WEB DETAILS
Subject,
is now a part of Avantor Performance Materials, Inc (
Guided
by its philosophy of becoming a globally respected company in the field of Life
Sciences and Laboratory Solutions, subject aims to inculcate a value system
which places the customer interest as the foremost, fosters integrity and
mutually beneficial relations with all its business partners, provides a
challenging environment which encourages learning and innovation, and empowers
its people to deliver exceptional customer value.
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 :
Their
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.51.77 |
|
|
1 |
Rs.81.32 |
|
Euro |
1 |
Rs.69.42 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
63 |
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.