MIRA
INFORM REPORT
|
Report Date : |
13.12.2011 |
IDENTIFICATION DETAILS
|
Name : |
INARCO LIMITED |
|
|
|
|
Registered
Office : |
B2 - 801, 8th Floor, Marathon Innova, Opposite Peninsula
Corporate Park, Off Ganapatrao Kadam Marg, Lower Parel, Mumbai-400013, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
12.12.1958 |
|
|
|
|
Com. Reg. No.: |
11-011233 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.9.500 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999MH1958PLC011233 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEI04164G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACI2897Q |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing of Cots, Aprons and Vinyl Floor Coverings. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 260000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an old and established company having satisfactory track.
Trade relations are reported as fair. Business is active. Payments are
reported to be usually correct and as 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.
INFORMATION DECLINED BY
Unable to contact the company.
LOCATIONS
|
Registered Office : |
B2 - 801, 8th Floor, Marathon Innova, Opposite Peninsula
Corporate Park, Off Ganapatrao Kadam Marg, Lower Parel, Mumbai-400013, Maharashtra |
|
Tel. No.: |
91-22-43152200 |
|
Fax No.: |
91-22-24919187 |
|
E-Mail : |
|
|
Location : |
Owned |
|
|
|
|
Head Office : |
118, Vardhaman Industrial Complex, Gokul Nagar, L B S Road, Thane –
400 601, |
|
Tel. No.: |
91-22-21722900 / 05 |
|
Fax No.: |
91-22-21721855 / 21720935 |
|
E-Mail : |
|
|
Location : |
Owned |
|
|
|
|
Factory: |
At |
|
Location : |
Owned |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Behram Navroz Vakil |
|
Designation : |
Director |
|
Address : |
|
|
Qualification : |
LLM |
|
Date of
Birth/Age : |
12.09.1958 |
|
Date of
Appointment : |
22.08.2006 |
|
DIN No.: |
00283980 |
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 |
U67190MH1997PTC109777 |
Strategic
Partners ( |
Director |
09-04-01 |
09-04-01 |
- |
Active |
NO |
|
2 |
U55101TN2002PTC048331 |
Wild
India Camps Private Limited |
Director |
10-03-04 |
10-03-04 |
- |
Active |
NO |
|
3 |
U65991MH2005PLC158045 |
Peninsula
Trustee Limited |
Director |
12-07-07 |
06-03-06 |
- |
Active |
NO |
|
4 |
U72900PN2006PTC129658 |
Bodhi
Global Services Private Limited |
Director |
22-03-06 |
22-03-06 |
- |
Active |
NO |
|
5 |
U74999MH1958PLC011233 |
Inarco
Limited |
Director |
22-08-06 |
22-08-06 |
- |
Active |
NO |
|
6 |
U65990MH2005PLC154276 |
Edelweiss
Web Services Limited |
Director |
02-11-06 |
02-11-06 |
- |
Active |
NO |
|
7 |
U65923MH2007PLC168721 |
Grameen
Capital India Limited |
Director |
14-03-07 |
14-03-07 |
- |
Active |
NO |
|
8 |
U93090MH2010NPL201145 |
Indian
Council on Global Relations |
Director |
28-09-11 |
25-08-10 |
- |
Active |
NO |
|
9 |
U74900MH2011PTC215129 |
Ge-Hitachi
Nuclear Energy India Private Limited |
Director |
22-03-11 |
22-03-11 |
- |
Active |
NO |
|
10 |
U73100MH2011FTC216670 |
|
Alternate
director |
31-05-11 |
31-05-11 |
- |
Active |
NO |
|
11 |
L74140PN1986PLC041033 |
Kale
Consultants Limited |
Director |
08-11-11 |
07-07-11 |
- |
Active |
NO |
|
Name : |
Mr. Nani Byram Javeri |
|
Designation : |
Director |
|
Address : |
Flat # 9, Ivorine, , |
|
Qualification : |
B.A. - Economics |
|
Date of
Birth/Age : |
04.04.1946 |
|
Date of
Appointment : |
01.10.2005 |
|
DIN No.: |
02731854 |
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 |
U74999MH1958PLC011233 |
Inarco
Limited |
Director |
27-02-01 |
27-02-01 |
- |
Active |
NO |
|
2 |
L17110MH1943PLC010052 |
Ari
Consolidated Investments Limited |
Director
appointed in casual vacancy |
30-06-09 |
30-06-09 |
- |
Active |
NO |
|
3 |
L29308MH1954PLC009371 |
Voltas
Limited |
Director |
16-08-10 |
29-10-09 |
- |
Active |
NO |
|
4 |
U52190KA1997PTC046775 |
Life
Style International Private Limited |
Director |
30-08-10 |
04-08-10 |
- |
Active |
NO |
|
5 |
U65923MH2009PTC198201 |
Union
Kbc Asset Management Company Private Limited |
Director |
31-05-11 |
16-09-10 |
- |
Active |
NO |
|
6 |
U74140MH2008FTC187025 |
|
Director |
31-10-11 |
31-10-11 |
- |
Active |
NO |
|
7 |
U29193DN2001PLC000159 |
Universal
Comfort Products Limited |
Additional
director |
01-11-11 |
01-11-11 |
- |
Active |
NO |
|
Name : |
Mr. Kavas Dara Patel |
|
Designation : |
Director |
|
Address : |
C-33, River Nest, 311, |
|
Date of
Birth/Age : |
02.02.1947 |
|
Date of
Appointment : |
15.10.2001 |
|
DIN No.: |
00002634 |
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 |
L33208GA1983PLC000520 |
Phil
Corporation Limited |
Director |
18-08-93 |
18-08-93 |
- |
Active |
NO |
|
2 |
U24300MH1989PLC052085 |
Indian
Oxides And Chemicals Limited |
Director |
27-06-97 |
27-06-97 |
- |
Active |
NO |
|
3 |
U45309PN1991PTC063598 |
Zinnia
Properties Private Limited |
Director |
14-03-98 |
14-03-98 |
- |
Active |
NO |
|
4 |
U74999MH1958PLC011233 |
Inarco
Limited |
Director |
31-03-99 |
31-03-99 |
- |
Active |
NO |
|
5 |
L24100MH1960PLC011681 |
Dai-Ichi
Karkaria Limited |
Director |
26-04-01 |
26-04-01 |
- |
Active |
NO |
|
6 |
L17110MH1943PLC010052 |
Ari
Consolidated Investments Limited |
Director |
15-10-01 |
15-10-01 |
- |
Active |
NO |
|
7 |
U31909MH1983PLC029134 |
Uni
Klinger Limited |
Director |
02-12-02 |
02-12-02 |
- |
Active |
NO |
|
8 |
U24110MH1990PLC055089 |
Champion
Dai-Ichi Technologies India Limited |
Director |
22-12-05 |
22-12-05 |
- |
Active |
NO |
|
9 |
L15419PN1985PLC037347 |
Tasty
Bite Eatables Limited |
Director |
27-08-09 |
29-05-09 |
- |
Active |
NO |
|
Name : |
Mr. Manmohan Krishan Mahajan |
|
Designation : |
Director |
|
Date of
Birth/Age : |
10.08.1949 |
|
Date of
Appointment : |
16.12.2008 |
|
DIN No.: |
00290208 |
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 |
U74140MH1998PTC114225 |
Mahajan
and Aibara Consulting Private Limited |
Director |
30-03-98 |
30-03-98 |
- |
Active |
NO |
|
2 |
U74999MH1958PLC011233 |
Inarco
Limited |
Director |
16-12-08 |
16-12-08 |
- |
Active |
NO |
|
Name : |
Mr. Arvind
Bhandari Kewalkishan |
|
Designation : |
Managing Director |
|
Address : |
203, Panorama, |
|
Qualification : |
CA |
|
Date of
Birth/Age : |
12.04.1947 |
|
Date of
Appointment : |
01.10.2005 |
|
DIN No.: |
00708080 |
|
|
|
|
Name : |
Mr. William Wesley Locke |
|
Designation : |
Director |
|
Address : |
168, Seraggy, |
|
Date of
Birth/Age : |
13.04.1935 |
|
Date of
Appointment : |
30.12.2003 |
|
DIN No.: |
02795487 |
MAJOR SHAREHOLDERS
As on 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
ARI Consolidated Investment Limited, |
94500 |
|
Arvind K. Bhandari and ARI Consolidated Investment Limited, |
500 |
|
Total |
95000 |
(As on
30.09.2011)
Equity share
breakup (percentage of total equity)
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Cots, Aprons and Vinyl Floor Coverings. |
||||||
|
|
|
||||||
|
Products : |
·
Cots and Apron ·
Adhesives ·
Top Roller ·
Floor Covering of Plastics |
PRODUCTION STATUS
As on 31.03.2011
|
Particulars |
Unit (R.Mtrs) |
|
Licensed
Capacity |
Not Applicable |
|
Installed
Capacity -
Cots and Aprons |
1680000 |
|
Production @ -
Cots and Aprons including Clearer Tubes |
1594182 |
Note : @ Includes samples and free replacements.
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||
|
Bankers : |
Not Available |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
12, |
|
PAN.: |
AABED7919A |
|
|
|
|
Holding Company : |
ARI Consolidated Investment Limited CIN NO.: L17110MH1943PLC010052 Address: B2 - 801, 8th Floor, Marathon Innova, Opposite
Peninsula Corporate Park, Off Ganapatrao Kadam Marg, Lower Parel, Mumbai-400013, Maharashtra, India |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.100/- each |
Rs.10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
95000 |
Equity Shares |
Rs.100/-
each |
Rs.9.500
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
9.500 |
9.500 |
9.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
54.784 |
43.803 |
37.817 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
64.284 |
53.303 |
47.317 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
9.165 |
1.155 |
25.973 |
|
|
2] Unsecured Loans |
10.000 |
25.000 |
17.350 |
|
|
TOTAL BORROWING |
19.165 |
26.155 |
43.323 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
83.449 |
79.458 |
90.640 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
44.575 |
36.028 |
28.736 |
|
|
Capital work-in-progress |
|
|
1.677 |
|
|
Capital Advances |
|
|
0.018 |
|
|
|
|
|
|
|
|
INVESTMENT |
4.244 |
1.945 |
0.000 |
|
|
DEFERREX TAX ASSETS |
8.311 |
6.403 |
8.826 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
54.236
|
49.145 |
66.832 |
|
|
Sundry Debtors |
53.172
|
45.176 |
36.850 |
|
|
Cash & Bank Balances |
9.829
|
11.722 |
5.051 |
|
|
Other Current Assets |
0.169
|
0.202 |
0.502 |
|
|
Loans & Advances |
20.558
|
20.919 |
27.285 |
|
Total
Current Assets |
137.964
|
127.164 |
136.520 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
86.615 |
71.744 |
54.110 |
|
|
Other Current Liabilities |
12.415
|
10.614 |
8.145 |
|
|
Provisions |
19.213
|
13.775 |
22.982 |
|
Total
Current Liabilities |
118.243
|
96.133 |
85.237 |
|
|
Net Current Assets |
19.721
|
31.031 |
51.283 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.100 |
|
|
|
|
|
|
|
|
TOTAL |
83.449 |
79.458 |
90.640 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
508.502 |
411.003 |
347.674 |
|
|
|
Other Income |
8.638 |
7.103 |
3.759 |
|
|
|
TOTAL (A) |
517.140 |
418.106 |
351.433 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption material changes inventories |
202.281 |
167.229 |
|
|
|
|
Manufacturing service cost |
62.550 |
43.047 |
|
|
|
|
Employee related expenses |
87.684 |
72.559 |
|
|
|
|
Administrative selling other expenses
|
115.515 |
93.156 |
|
|
|
|
TOTAL (B) |
468.030 |
375.991 |
324.687 (Including
Financial Expenses) |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
49.110 |
42.115 |
|
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
4.018 |
3.757 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
45.092 |
38.358 |
26.746 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
11.845 |
8.024 |
10.787 |
|
|
|
|
|
|
|
|
|
Add / Less |
PRIOR PERIOD
ITEMS BEFORE TAX |
0.000 |
(0.100) |
(0.100) |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
33.247 |
30.234 |
15.859 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
11.225 |
15.386 |
4.839 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
22.022 |
14.848 |
11.020 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
36.069 |
31.653 |
28.254 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
Proposed Dividend |
NA |
7.600 |
5.510 |
|
|
|
Tax on distributes profits |
NA |
1.262 |
0.936 |
|
|
|
Transferred to General Reserve |
NA |
1.570 |
1.175 |
|
|
|
BALANCE CARRIED
TO THE B/S |
43.720 |
36.069 |
31.653 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of goods at F.O.B. Value (Including in Indian Rs.4.019 Millions
(Previous year Rs.4.117 Millions) |
134.866 |
108.501 |
90.006 |
|
|
|
Freight and Insurance |
1.849 |
2.047 |
1.737 |
|
|
|
Exchange Gain |
1.543 |
1.450 |
0.000 |
|
|
TOTAL EARNINGS |
138.258 |
111.998 |
91.743 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
77.687 |
56.616 |
65.506 |
|
|
TOTAL IMPORTS |
77.687 |
56.616 |
65.506 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
231.81 |
156.30 |
116.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
4.26
|
3.55 |
3.14 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.54
|
7.36 |
4.56 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
18.21
|
18.53 |
9.60 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.52
|
0.57 |
0.36 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.14
|
2.29 |
2.72 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.17
|
1.32 |
1.60 |
LOCAL AGENCY FURTHER INFORMATION
FINANCIAL RESULTS:
The turnover for the year stood at Rs.508.500 Millions – an increase of
24% over the previous year. The company made a profit of Rs.37.260 Millions
before interest and tax.
The performance for the year showed improvement of 9% in spite of steep
increase in raw material prices.
DETAILS OF SUNDRY CREDITORS:
(Rs. In Millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors
|
|
|
|
|
Creditors due
small micro enterprises |
5.084 |
1.390 |
0.000 |
|
Creditors due
others |
81.531 |
70.354 |
54.110 |
|
Total |
86.615 |
71.744 |
54.110 |
CONTINGENT LIABILITY:
(Rs. In Millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
|
Estimated amount
id contracts remaining to be executed on capital account and not provided for
(net of advances) |
9.526 |
7.703 |
|
Contingent
liabilities in respect of Income Tax matter in appeal |
0.830 |
0.000 |
FIXED ASSETS:
·
Roads
·
Buildings
·
Plant and Machinery
·
Furniture and Fixtures
·
Vehicles
·
Computer Software
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.52.42 |
|
|
1 |
Rs.81.92 |
|
Euro |
1 |
Rs.69.94 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
47 |
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.