MIRA
INFORM REPORT
|
Report Date : |
17.02.2011 |
IDENTIFICATION DETAILS
|
Name : |
D AND
H SECHERON ELECTRODES PRIVATE LIMITED |
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Registered Office : |
213D / 215 D, Vishnu Shopping Centre, Plot No.37, Sector 15, CBD Belapur, Navi
Mumbai – 400614, Maharashtra. |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
03.06.1965 |
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Com. Reg. No.: |
11-164343 |
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CIN No.: [Company
Identification No.] |
U32101MH1965PTC164343 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BPLD00066D |
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Legal Form : |
Private
Limited Liability company. |
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Line of Business : |
Manufacturer
of Welding Electrodes. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (46) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 1183000 |
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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 commitment. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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|
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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 |
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Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Mayur |
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Designation : |
Accounts Department |
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Date : |
15.02.2011 |
LOCATIONS
|
Registered Office : |
213 D/215 D, Vishnu Shopping Centre, Plot No.37, Sector 15, CBD Belapur, Navi Mumbai-400
614, Maharashtra, India. |
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Tel. No.: |
91-22-27561339 and 27561798 |
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Fax No.: |
91-22-27561299 |
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E-Mail : |
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Website: |
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Corporate Office : |
Merchant Chambers, 5th Floor, west wing, 41 New Marine Lines,
Opposite Patkar Hall, Mumbai-400020, |
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Tel. No.: |
91-22-40428112/ 40428100/ 22037663/ 40428100 |
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Fax No.: |
91-22-40428101/ 22037664 |
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E-Mail : |
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Website : |
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Factory : |
44-46, Industrial Estate Kila Maidan, Post Bag No. 3, Indore-452006, |
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Tel. No.: |
91-731-2412331/37 |
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Fax No.: |
91-731-2412338 |
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E-Mail : |
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Website : |
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Factory 2 : |
Village: Dakachya, |
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Tel. No.: |
91-731-2309001/ 2805253/ 2805083 |
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Fax No.: |
91-731-2805177 |
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Branches: |
Located At: ·
Mumbai ·
Nashik ·
·
Vasai ·
Ahmedabad ·
·
Gandhidham ·
·
·
Pune ·
Kolkata ·
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·
·
Angul ·
Jharsuguda ·
Guwahati ·
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·
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Secundrabad ·
Vizag ·
Chennai ·
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Neyveli ·
Trichy ·
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Mangalore ·
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Sitapur ·
Anpara ·
Korba ·
Bilaspur ·
Bhilai ·
Satna ·
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Bokaro ·
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Chittorgarh ·
·
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DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Murli Dhar Khatri |
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Designation : |
Managing Director |
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Address : |
184 Kalani Nagar, |
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Date of Birth/Age : |
08.03.1940 |
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Date of Appointment : |
01.07.2006 |
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Name : |
Mr. Parasmal Mogra |
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Designation : |
Director |
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Address : |
60, New Dewas Road, Indore-452003, |
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Date of Birth/Age : |
01.06.1952 |
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Date of Appointment : |
01.07.2006 |
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Name : |
Mr. Arvind A. Maheshwari |
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Designation : |
Director |
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Address : |
22, |
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Date of Birth/Age : |
23.11.1971 |
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Date of Appointment : |
12.06.2003 |
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Name : |
Ms. Suman Maheshwari |
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Designation : |
Director |
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Address : |
21-22, |
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Date of Birth/Age : |
10.05.1950 |
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Date of Appointment : |
17.07.1986 |
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Name : |
Mr. Ashok H. Maheshwari |
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Designation : |
Chairman |
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Address : |
21-22, |
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Date of Birth/Age : |
12.04.1946 |
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Date of Appointment : |
14.06.1986 |
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Name : |
Mr. Ashok Mehta |
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Designation : |
Director |
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Address : |
3-D, “Padm Prabh”, 11/3 Manoramaganj, |
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Date of Birth/Age : |
27.09.1957 |
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Date of Appointment : |
12.06.2003 |
KEY EXECUTIVES
|
Name : |
Ms. Shweta Agrawal |
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Designation : |
Secretary |
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Date of Appointment : |
21.05.2009 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
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Sam Holding ( |
|
188759 |
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Sam Farms and Food Private Limited ( |
|
175103 |
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Sam Project Developers Private Limited ( |
|
172350 |
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Sam Spintex Limited ( |
|
29921 |
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Dwekam Weldtech Limited ( |
|
42068 |
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Celestical Commercial Private Limited ( |
|
5477 |
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Sam Capital Market Limited ( |
|
22314 |
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Sam Hoteliers and Resorts Private Limited ( |
|
23334 |
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Steward Trading and Investment Private Limited ( |
|
6999 |
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Suman A. Maheshwari and Geetanjali A. Maheshwari |
|
3248 |
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Suman A. Maheshwari and Seema A. Maheshwari |
|
2941 |
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Seema A. Maheshwari and Suman A. Maheshwari |
|
505 |
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Gitanjali A. Maheshwari and Suman A. Maheshwari |
|
380 |
|
Arvind A. Maheshwari “HUF” |
|
9636 |
|
Ashutosh Maheshwari “HUF” |
|
1065 |
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Total |
|
684100 |
AS ON 30.09.2010
|
Equity share
breakup |
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|
Category |
Percentage |
|
Bodies corporate |
97.40 |
|
Directors or relatives of directors |
1.03 |
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Other top fifty (50) shareholders |
1.57 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer
of Welding Electrodes. |
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Products : |
Ř
SMAW/ MMAW Electrodes Ř
Consumables for GMAW Process Ř
Filler wire for GTAW Process Ř
Low heat input SMAW welding Electrodes Ř
Flux Cored Wires |
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Exports : |
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Products : |
Welding Electrodes |
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Countries : |
African Countries |
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Imports : |
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Products : |
Raw Materials and Machinery |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash and Credit |
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Purchasing : |
L/C, Cash and Credit |
GENERAL INFORMATION
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Customers : |
End users and
OEM’s |
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No. of Employees : |
500 (15 in office
+ 400 in factory + 85 in branches) (Approximately) |
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Bankers : |
Ř
Union
Bank of Ř
Citi
Bank, Unit No. 1 to 4 and 101 to 106 ground and first floor, apoilo square
7/2 Race course Road, opposite Nanaijan Kothi saloarkan pratima Chouata,
Indore-452007 Ř
HDFC Bank Ř
ICICI Bank |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
G.V. Rangnekar and Company Chartered Accountant |
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Address : |
698, |
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Group Company: |
Ř
D and H Secheron Industries Private Limited Ř
D and H Secheron Welding Institute Ř
Dwekam Electrodes Private Limited Ř
Sam Industries Limited Ř
Gaurang Metals Private Limited |
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Associates/Subsidiaries : |
Ř
Sam Farms and Foods Private Limited Ř
Sam Holdings ( Ř
Sam Project Developers Private Limited |
CAPITAL STRUCTURE
AS ON 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
990000 |
Equity Share |
Rs.100/- Each |
Rs. 99.000 Millions |
|
10000 |
Preference Share |
Rs. 100/-Each |
Rs. 1.000 Million |
|
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Total |
|
Rs. 100.000
Millions |
Issued Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
985800 |
Equity Share |
Rs.100/- Each |
Rs. 98.580
Millions |
Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
684100 |
Equity Share |
Rs.100/- Each |
Rs. 68.410
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 |
68.410 |
68.410 |
67.410 |
|
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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|
3] Reserves & Surplus |
227.374 |
209.489 |
172.550 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
295.784 |
277.899 |
239.960 |
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|
LOAN FUNDS |
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1] Secured Loans |
263.443 |
187.413 |
111.798 |
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2] Unsecured Loans |
66.991 |
48.791 |
62.520 |
|
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TOTAL BORROWING |
330.434 |
236.204 |
174.318 |
|
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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TOTAL |
626.218 |
514.103 |
414.278 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
266.706 |
181.091 |
188.000 |
|
|
Capital work-in-progress |
15.009 |
91.839 |
4.965 |
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INVESTMENT |
192.170 |
78.388 |
61.410 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
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|
|
Inventories |
280.728
|
206.255
|
163.318 |
|
|
Sundry Debtors |
68.668
|
87.092
|
72.364 |
|
|
Cash & Bank Balances |
42.536
|
78.696
|
22.559 |
|
|
Other Current Assets |
2.174
|
0.898
|
0.586 |
|
|
Loans & Advances |
170.929
|
117.479
|
152.027 |
|
Total
Current Assets |
565.035
|
490.420
|
410.854 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
191.271
|
142.267
|
|
|
|
Other Current Liabilities |
121.136
|
102.488
|
177.949 |
|
|
Provisions |
100.595
|
82.880
|
73.002 |
|
Total
Current Liabilities |
413.002
|
327.635
|
250.951 |
|
|
Net Current Assets |
152.033
|
162.785
|
159.903 |
|
|
|
|
|
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|
|
MISCELLANEOUS EXPENSES |
0.300 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
626.218 |
514.103 |
414.278 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1686.101 |
1567.454 |
|
|
|
|
Other Income |
14.545 |
12.598 |
|
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|
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TOTAL (A) |
1700.646 |
1580.052 |
1304.704 |
|
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|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Materials, Packing Materials, Finished Goods and Semi-Finished
Goods |
982.010 |
915.545 |
|
|
|
|
Manufacturing Expenses |
108.105 |
78.484 |
|
|
|
|
Selling and Distribution Expenses |
153.026 |
142.131 |
|
|
|
|
Payments to and Provision for Employees |
134.443 |
115.737 |
|
|
|
|
Director’s Remuneration |
31.142 |
30.140 |
|
|
|
|
Administrative and Other Expenses |
160.495 |
161.631 |
|
|
|
|
Loss on |
0.000 |
0.372 |
|
|
|
|
Loss on |
0.000 |
10.131 |
|
|
|
|
TOTAL (B) |
1569.221 |
1454.171 |
1223.163 |
|
|
|
|
|
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|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
131.425 |
125.881 |
NA |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
28.912 |
30.129 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
102.513 |
95.752 |
NA |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
21.233 |
17.089 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
81.280 |
78.663 |
81.541 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
27.636 |
30.549 |
27.012 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
53.644 |
48.114 |
54.529 |
|
|
|
|
|
|
|
|
|
Add |
Previous Year’s income/provision written back |
1.155 |
7.586 |
1.123 |
|
|
|
|
|
|
|
|
|
Less |
Previous year Expenses |
4.376 |
0.394 |
0.409 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
8.979 |
2.065 |
(30.786) |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
20.000 |
20.000 |
6.000 |
|
|
|
Interim Dividend |
0.000 |
12.134 |
14.011 |
|
|
|
Tax on Interim Dividend |
0.000 |
2.062 |
2.381 |
|
|
|
Proposed Dividend |
24.628 |
12.134 |
0.000 |
|
|
|
Tax on Proposed Dividend |
4.185 |
2.062 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
10.589 |
8.979 |
2.065 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
73.70 |
64.30 |
77.36 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
3.15
|
3.05
|
4.18 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.82
|
5.02
|
-- |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.77
|
11.71
|
13.62 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.27
|
0.28
|
0.34 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.51
|
2.03
|
1.77 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.37
|
1.50
|
1.64 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS :
(Rs. in Millions)
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Sundry Creditors |
191.271
|
142.267
|
NA |
|
Total |
191.271 |
142.267 |
NA |
PERFORMANCE:
During the year, the company has posted
appreciable operating performance in terms of enhancement in overall
sales and maintenance of sales
realization.
The sales and other income of the
company has gone up by about 8%, cost of goods produced appreciated by about 10%,
sales and administrative expenses rose by about 3%. Hence, the management did
keep the controllable costs under control and upgraded its sales performance
during the year. The Directors have also undertaken expansion at Dakachya,
Sanwer and Mangliya plant where additional machineries have been installed.
Part financing is obtained for this purpose from ICICI Bank.
Under expansion of the business of
company it has incorporated wholly owned subsidiary D&H Secheron (Overseas)
Private Limited in Isle of Man.
Future Outlook:
The Directors are hopeful for a
better performance of the company in the year 2010-11 for the fact that general
economic indicators of the country have already started turning around and
industries have started overcoming the scene of operating losses, most
industries are showing handsome operating performances now. The company, during
the year, despite liquidity constraints, continued with the expansion program
at village Posheri in Wada Tehsil of Thane district in the state of
CHANGE OF ADDRESS :
Registered office of the company has been shifted from
44/46, Industrial Estate, Kila Maidan,
Bankers Charges
Report as per Registry
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10008273 |
|
Corporate
identity number of the company |
U32101MH1965PTC164343 |
|
Name of the
company |
D AND H SECHERON ELECTRODES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
213 D/215 D, Vishnu Shopping Centre, Plot No.37, Sector 15, CBD Belapur, Navi
Mumbai-400 614, Maharashtra, India. |
|
Type of charge |
Book Debts Movable Property Immovable
Property |
|
Number of charge
holder (s) |
1 |
|
Particular of
charge holder |
Union Bank of |
|
Email |
|
|
Nature of
description of the instrument creating or modifying the charge |
1. Hypothecation
Agreement of Goods & Debts (SD-06) 2. Demand Note 3. Document AD-10
& AD-12 4. Letter of
Guarantee (SD-01) 5. Memorandum of
Entry |
|
Date of
instrument Creating the charge |
06.02.2010 |
|
Amount secured by
the charge |
Rs. 150.000 millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest 0.25% above Union
Bank of Terms of
Repayment On Demand Margin Fund Based - CC (H) / BD of
Rs.125.0 millions: 25% Non Fund Based - A) L/C ( Inland /
Import) of Rs.20 millions: 25% Cash Margin B) LG of Rs.5.000
millions: 25% Cash Margin Extent and
Operation of the charge Security created
by way of first charge and to cover the principal amount together with
interest, charges, costs and expenses. Others Facilities : - Fund Based : - CC (H) : Rs. 12,50,00,000/- [including
Rs. 15.000 millions W/W UDBP 90 days
DA] Non Fund Based :
- L/C: Rs. 20.000
millions LG: Rs. 5.000 millions Total: Rs.
150.000 millions |
|
Short particulars
of the property charged |
i) Hypothecation of
stocks of raw material, semi finished goods and finished stocks of welding
electrodes and related Stock of materials, consumable stores and spares. ii) Movable
(Plant and Machinery) property of any kind situated at 44-46, Industrial
Estate, Qila Maidan, iii)
Hypothecation of book debts. iv) Equitable
mortgage of immovable property
situated at 44-46, Industrial Estate, Qila Maidan, v) Equitable
mortgage of immovable property situated at Merchant Chambers, 5th Floor (West
Wing), 41, New Marine Lines, Opposite Patkar Hall, Mumbai - 400020. |
|
Date of latest
modification prior to the present modification |
22.12.2008 |
|
Particulars of the
present modification |
Existing Loan
Facilities of Rs. 125.0 millions enhanced to Rs 150.0 millions by sanction of
CC (H) of Rs. 25.0 millions. Breakup of Limits
: - Fund Based : - CC (H) :
Rs.125.000 millions [including Rs. 15.000 millions W/W UDBP 90 days DA] Non Fund Based :
- L/C: Rs. 20.000 millions LG: Rs. 5.000 millions Total Rs.150.000
millions |
Fixed Assets:
Ř Land
Ř Buildings
Ř Plant and Machinery
Ř Generator Set
Ř Electrical and Water Installation
Ř Office Equipments and Furniture
Ř Laboratory Equipments
Ř Cycle Stand
Ř Vehicles
AS PER WEB DETAILS:
Profile:
Subject a privately owned company, is in the welding industry field since 1966. Subject is specialized in the manufacturing of Welding Consumables such as Welding Electrodes, MIG / MAG Welding Wires, Flux Cored Wires and Gas Welding Rods. Through our sales network, we cover a record 70% of the local market and hence are enjoying strong domestic presence.
The company, with its dynamic international sales network,
is expanding rapidly through its exports worldwide. Their welding consumables
are exported to the
Services
Subject is motto of providing complete customer satisfaction is the core fact of their growth philosophy. Right from the inception of the company, the highly trained and motivated staff of team D and H is well aware of this core value. To maintain the highest standards of service, the company has ingrained in the minds of its team, its one motto of Customer satisfaction.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist organization
or whom notice had been received that all financial transactions involving
their assets have been blocked or convicted, found guilty or against whom a
judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.45 |
|
|
1 |
Rs.72.90 |
|
Euro |
1 |
Rs.61.43 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
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 |
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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
46 |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.