MIRA
INFORM REPORT
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Report Date : |
16.02.2011 |
IDENTIFICATION DETAILS
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Name : |
THE ANUP ENGINEERING LIMITED |
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Registered Office : |
Behind 66 KV Elec. Sub Station, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
14.11.1962 |
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Com. Reg. No.: |
001170 |
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CIN No.: [Company
Identification No.] |
L99999GJ1962PLC001170 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
AHMA00478C |
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PAN No.: [Permanent
Account No.] |
AAACT5733A |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges. |
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Line of Business : |
Manufacturing of Fabricated Process Equipment and Components |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (50) |
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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 1200000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and reputed company meeting its normal
commitments timeously. Trade relations are fair. Business is active. The company can be considered good for normal business dealings. |
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
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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 DECLINED BY
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Name : |
Mr. Paresh Shah |
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Designation : |
Accounts Manager |
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Contact No.: |
91-79-22870622 |
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Date : |
15.02.2011 |
LOCATIONS
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Registered Office : |
Behind 66 KV Elec. Sub Station, |
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Tel. No.: |
91-79-22870622/ 22872823 |
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Fax No.: |
91-79-22870642 |
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E-Mail : |
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Website : |
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Area : |
5000 Sq. mtr |
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Location : |
Leased |
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Factory : |
P B No. 1158, Ahmedabad – 380002, |
DIRECTORS
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Name : |
Mr. Samveg A. Lalbhai |
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Designation : |
Chairman |
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Address : |
'Shalimar', Shahibaug,
Ahmedabad – 380 004, |
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Date of Birth : |
04.06.1961 |
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Profile : |
Mr. Samveg A. Lalbhai, is a chairman of the Company since
13th June, 1997. He is a Managing Director of Atul Limited. He is
past president of Ahmedabad Textile Mills Association and Gujarat Chamber of
Commerce and Industry. He is an Executive Committee Member of Federation of
Indian Chamber of Commerce & Industry. He is Governing Council Member of
National Institute of Design and Ahmedabad Textile Industry’s Research
Association, etc. |
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Other Directorship : |
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Name : |
Mr. Arun P. Sheth |
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Designation : |
Director |
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Address : |
11, Amrakadam, Near
Super Society, Satellite Road, Inside Ramdev Tekra, Ahmedabad, |
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Name : |
Mr. Pankaj Sudhakar Sheth |
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Designation : |
Director |
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Address : |
278, Manekbag Soc. Near
Manekbag Hall Ambawadi, Ahmedabad – 380 015, |
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Name : |
Mr. Chandrakant T. Parikh |
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Designation : |
Director |
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Address : |
Vrundavan Behind Civil
Hospital, Shahibaug, Ahmedabad – 380 004, |
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Name : |
Mr. Shreyas Chinubhai Sheth |
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Designation : |
Director |
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Name : |
Mr. Vinod R. Shah |
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Designation : |
Director |
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Address : |
6, Dhaval Co. Op. Soc.
I, |
KEY EXECUTIVES
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Name : |
Mr. Paresh Shah |
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Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(As on 31.03.2010)
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Names of Shareholders |
No. of Shares |
Percentage of
Holding |
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Promoter Holding |
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Promoters |
308822 |
90.83 |
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Non Promoters
Holding |
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Mutual Funds and Administrator of the Specified Undertaking of Unit
Trust of |
-- |
-- |
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Banks, Financial Institution, Insurance Companies etc. |
13848 |
4.07 |
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Foreign Institutional Investors (FIIS) |
-- |
-- |
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Others |
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Private Corporate Bodies |
3031 |
0.89 |
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NRIs / OCBs |
-- |
-- |
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State Government |
-- |
-- |
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Indian Public |
14299 |
4.21 |
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Total |
340000 |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing of Fabricated Process Equipment and Components |
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Products : |
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PRODUCTION STATUS (As On 31.03.2010)
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Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
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Chemical and Pharmaceutical machinery |
MT |
1900 |
1900 |
1900 |
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Industrial centrifuges |
Nos |
100 |
100 |
100 |
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** Diary Machinery and equipments |
Rs. Lacs |
125 |
-- |
-- |
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Expansion joints and bellows |
MT |
130 |
130 |
130 |
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** Soda ash plant equipments and components |
Rs. Lacs |
100 |
-- |
-- |
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Textile machinery (including accessories) |
Nos |
25 |
-- |
-- |
* As certified by the chief executive officer
and being a technical matter, accepted by the auditors, as correct
** As the licenses are in Rupee value, no
quantitative information is given.
GENERAL INFORMATION
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Customers : |
Consultants
· Engineers India Limited · UHDE India Limited · Jacob HandG Limited · Kvaerner Powergas India Limited · Toyo Engineering Limited ·
Linde - End Clients Pharma Industries: · Ranbaxy Laboratories Limited · DSM Anti-Infectives India Limited · Max GB · Aventis Crop science · Hochest Pharmaceuticals Limited · Lupin Laboratories Limited Petrochemicals and
Refineries: · Indian Oil Corporation Limited - Panipat/Haldia/Gauhati/Vadodara ·
· Hindustan Petroleum Corporation Limited - Vaizag · Bharat Petroleum Corporation Limited Mahul, Mumbai · Reliance Petrochemicals Industries - Hazira ·
·
Indian Petrochemicals Corporation Limited Gas · Gas Authority of India Limited · Oil and Natural Gas Corporation Limited · Reliance Industries · Oil India Limited
Fertilizers: · Gujarat State Fertilizer Company Limited · Gujarat Narmada Valley Fertilizer Company Limited · Rashtriya Chemicals and Fertilizers Limited · Indian Farmers Fertilizer Co. Op. Limited
Chemicals Dyes and Intermediates: · Atul Limited. - Valsad · National Organic Chemicals Limited. - Mumbai · Herdilia Chemicals Limited. - Mumbai ·
Shriram Vinyl and Chemicals Limited. -
Pulp and Paper: ·
J.K. Industries Limited - raigadh and · Hindustan Paper Corporation Limited Naongaon - Meghalaya
Power Plants: ·
Nuclear Power Corporation Limited - Tarapur, · ALSTOM · National Thermal Power Corporation Limited Others:
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Bharat Heavy Electricals Limited - · Andhra Sugars Limited - Tanaku, A.P. ·
HEG Limited - · I S R O · D R D C |
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No. of Employees : |
Approximately 1800 |
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Bankers : |
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Facilities : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Dalal and Shah Chartered Accountants, |
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Address : |
49-55, |
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Holding Company : |
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Associates : |
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Fellow Subsidiaries : |
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CAPITAL STRUCTURE
As On 31.03.2010
Authorised Capital:
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No. of Shares |
Type |
Value |
Amount |
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500000 |
Equity shares |
Rs. 100/- each |
Rs.50.000 millions |
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Issued Capital:
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No. of Shares |
Type |
Value |
Amount |
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340000 |
Equity shares |
Rs. 100/- each |
Rs.34.000
millions |
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Subscribed & Paid-up Capital:
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No. of Shares |
Type |
Value |
Amount |
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340000 |
Equity shares |
Rs. 100/- each |
Rs.34.000
millions |
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Note:
- 200000 Equity Shares of Rs.100/- each have been issued to Arvind Mills Limited on conversion of part of loan, in terms of Board of Industries and Financial Reconstruction Order Date: 08.12.2005 approving the Rehibilitation Scheme.
- 300000 equity shares of Rs. 100/- each are held by the holding company.
- 5000 equity shares of Rs. 100/- each allotted to shareholders of hind laboratories private limited as fully paid without payment being received in cash, in terms of amalgamation scheme sanctioned by Gujarat high court, as per order dated 20.07.1964.
- 2500 equity shares of Rs. 100/- each allotted to M/s. Machinefabriek Reineveld N.V as fully paid without payment being received in cash pursuant to collaboration agreement for technical know-how
- 332500 equity shares of Rs. 100/- each fully paid (including 9992 shares issued as fully paid bonus shares by way of capitalization of reserve).
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
34.000 |
34.000 |
34.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
279.398 |
177.961 |
95.711 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
313.398 |
211.961 |
129.711 |
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LOAN FUNDS |
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1] Secured Loans |
306.425 |
243.378 |
126.144 |
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2] Unsecured Loans |
8.503 |
46.065 |
70.866 |
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TOTAL BORROWING |
314.928 |
289.443 |
197.010 |
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DEFERRED TAX LIABILITIES |
17.000 |
9.822 |
1.890 |
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TOTAL |
645.326 |
511.226 |
328.611 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
192.240 |
145.073 |
29.714 |
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Capital work-in-progress |
52.357 |
0.926 |
9.890 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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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 |
287.990
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259.998
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211.758
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Sundry Debtors |
244.565
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281.273
|
135.006
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Cash & Bank Balances |
13.695
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11.513
|
7.474
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Other Current Assets |
0.000
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0.000
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0.000
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Loans & Advances |
26.828
|
15.600
|
16.450
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Total
Current Assets |
573.078
|
568.384
|
370.688 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
101.307
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|
72.227 |
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Other Current Liabilities |
55.568
|
98.523
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Provisions |
15.474
|
1.630
|
9.454
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Total
Current Liabilities |
172.349
|
203.157
|
81.681
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Net Current Assets |
400.729
|
365.227
|
289.007
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
645.326 |
511.226 |
328.611 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Income |
907.447 |
786.382 |
630.192 |
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Other Income |
7.908 |
4.010 |
2.948 |
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TOTAL (A) |
915.355 |
790.392 |
633.140 |
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Less |
EXPENSES |
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Raw Material Consumed |
473.492 |
488.243 |
374.076 |
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Manufacturing Expenses |
133.588 |
122.681 |
93.028 |
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Employees Cost |
45.099 |
33.731 |
20.675 |
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Other Expenditure |
52.549 |
38.160 |
65.112 |
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Increase/(Decrease) in Finished Goods |
9.551 |
(50.710) |
(54.833) |
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TOTAL (B) |
714.279 |
632.105 |
498.058 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
201.076 |
158.287 |
135.082 |
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Less |
FINANCIAL
EXPENSES (D) |
26.671 |
25.242 |
12.240 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
174.405 |
133.045 |
122.842 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
12.550 |
7.268 |
2.899 |
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PROFIT BEFORE
TAX (E-F) (G) |
161.855 |
125.777 |
119.943 |
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Less |
TAX (I) |
56.440 |
43.527 |
41.434 |
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PROFIT AFTER TAX
(G-I) (J) |
105.415 |
82.250 |
78.509 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
177.758 |
95.508 |
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Less |
APPROPRIATIONS |
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Transfer to General Reserve |
3.400 |
-- |
NA |
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Proposed Dividend |
3.400 |
-- |
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Corporate Dividend Tax on above |
0.578 |
-- |
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BALANCE CARRIED
TO THE B/S |
275.795 |
177.758 |
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EARNINGS IN
FOREIGN CURRENCY |
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Export Earnings |
5.199 |
9.455 |
16.830 |
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TOTAL EARNINGS |
5.199 |
9.455 |
16.830 |
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IMPORTS |
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Raw Materials |
5.561 |
43.653 |
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Capital Goods |
-- |
17.536 |
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TOTAL IMPORTS |
5.561 |
61.189 |
79.277 |
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Earnings Per
Share (Rs.) |
310.04 |
241.91 |
NA |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
11.52
|
10.41 |
12.40 |
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Net Profit Margin (PBT/Sales) |
(%) |
17.84
|
15.99 |
19.03 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
21.15
|
17.63 |
29.96 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.52
|
0.59 |
0.92 |
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Debt Equity Ratio (Total Liability/Networth) |
|
1.55
|
2.32 |
2.15 |
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Current Ratio (Current Asset/Current Liability) |
|
3.33
|
2.80 |
1.28 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
(Rs.
in Millions)
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Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Sundry Creditors |
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Due
to Micro, Small and Medium Enterprises |
-- |
-- |
NA |
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Others: |
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For
Goods: |
60.774 |
69.591 |
NA |
|
For
Expenses |
24.793 |
23.024 |
NA |
|
Others |
15.740 |
10.389 |
NA |
|
Total |
101.307 |
103.004 |
NA |
OPERATIONS:
During the year the company could achieve turnover of Rs. 910.400
Millions as against Rs. 789.300 Millions during the year 2008-09. Profit of the
company improved from Rs. 82.600 Millions to Rs. 107.000 Millions during the
year. Profit before interest,
depreciation and tax significantly improved from Rs. 158.300 Millions to Rs.
201.100 Millions.
PROSPECTS:
After an unprecedented slow down world over, the signs of economic
recovery were visible in the Second Half of the financial year. Fortunately,
SUBSIDIARY OF
ARVIND MILLS LIMITED:
Pursuant to the order of the BIFR dated 08.12.2005, during the year
under report the Company has issued 200000 equity shares of Rs. 100/- each to
the promoter of the Company – Arvind Mills Limited on part conversion of
Unsecured Loan into equity share capital of the company. On issue of these
shares, the Company has become subsidiary of Arvind Mills Limited from
19.07.2007.
MANAGEMENT
DISCUSSION AND ANALYSIS
Overview:
The sales of the Company has improved from Rs. 789.300 Millions to Rs.
910.400 Millions. Profit before Taxation
increased from Rs. 125.800 Millions to
Rs. 161.900 Millions, during the
previous year and Profit net of Tax also shown rise from Rs. 82.200 Millions to
Rs.105.400 Millions, during the previous year.
Industry Structure
and Developments
The Company is in heavy fabrication industry and is
one of
the leading players since
last 40 plus years. The company
is one of the very
few companies in the country, which has integrated fabrication
facilities under one roof. The
Company cater to,
Refinery, Power Industry,
Process Manufacturing,
Chemical and Petro Chemical,
Pharma etc. industries of the Country.
Range of products includes process equipments, pressure vessels, heat
exchangers, columns, centrifuges,
chlorine tonners and
vessels, expansion bellows etc.
Outlook
Company is having reasonable
order book position on hand. But
the future working of
the company will largely depend
on the
improvement in the Capital
Expenditure of Program Large Industrial Houses and continued
expansion of Public Sector Undertakings
which are major customers of the company.
But still the company may feel pressure on the operating margins during the year.
Internal Control
System
The Company has in
place adequate structure of Internal
Controls for safeguarding the
assets of the Company; ensuring
transactions are duly authorized, recorded,
reported and are
in accordance with
policies; preventing
possibilities of fraud
or any other
irregularities. The adequacy,
efficiency and effectiveness of
controls are independently reviewed by the Independent
Internal Auditors, as part of their audit plan. As a process of continuous
improvement of controls, remedial actions on the audit observations are
implemented by functional heads. The
annual audit plan is
reviewed by the Audit Committee and major findings
and actions taken/proposed to be
taken are also reported to the Audit Committee.
CONTINGENT
LIABILITIES
|
|
31.03.2010 (Rs. In Millions) |
|
Claims against the Company not acknowledged as Debts |
0.526 |
|
Excise matter under appeal |
0.170 |
|
Estimated amount of Contracts remaining to be executed on Capital account and not provided for |
0.548 |
FIXED ASSETS
- Land , Leasehold
- Land, Freehold
- Buildings
- Machinery
- Electric Installations
- Tube Well
- Furniture
- Dead Stock
- Drawings
- Vehicles
- Computer software
WEBSITE DETAILS
PROFILE:
Subject is one of the pioneer companies in the manufacturing
of fabricated process equipment and components in
Subject is a part of Lalbhai Group of companies. The group turnover
is about Rs.30000.000 Millions (60 million USD)
Subject was established in 1963. The works is located in Ahmedabad, 6 km from
railway station 11 km from international airport.
It is one of the leading engineering industries engaged in manufacturing
process equipment for Oil and Gas, Furtilizer, Petrochemicals, Power, Drugs and
Pharmaceutical and other process plant sectors.
Subject is ASME "U" Stamp Authorized and ISO 9001- 2000 certified
company by BVQI.
Subject is also approved by statutory authorities like IBR, CCOE and National
Board.
The Arvind Mills was set up with the pioneering effort of the Lalbhai
brothers in 1931. With the best of technology and business acumen, Arvind has
become a true Indian multinational, having chosen to invest strategically,
where demand has been high and quality required has been superlative. Today,
The Arvind Mills Limited is the flagship company of Rs.20 billion (US$ 500
million) Lalbhai Group.
Arvind Mills has set the pace for changing global customer demands for textiles
and has focused its attention on select core products. Such a focus has enabled
the company to play a dominant role in the global textile arena. With its
presence across the textile value chain, the company endeavors to be a one-stop
shop for leading garment brands.
Forevision and Technology has brought Arvind to be one of the top three
producers of Denim in the world, and on its way becoming the Global Textile
Conglomerate. Arvind is already making its presence felt in Shirting's, Knits
and Khakis fabrics apart from being all set to create ripples in the ready to
wear Garments world over.
The company is a subsidiary of The Arvind Mills Limited. The principal
business segments of the company include manufacturing and marketing of Voiles fabrics,
Bottomweight fabric (khakis) and Yarn. The company operates through its
divisions viz: Arvind Intex (with both ring and open end yarn manufacturing
under one roof), Arvind Cotspin (manufacturing 100% cotton yarn and double yarn
in a wide range of counts and varieties) and Ankur Textiles (manufacturing
of Voiles)
Arvind Brands, a group company, manages various brands owned by Arvind.
These include Flying Machine,
Apart from these owned brands, the company has licenses from reputed
International brands like Arrow, Lee, Wrangler and Tommy Hilfiger for the
Indian market. The management out of their office at
For any queries, you may write to:
ARVIND BRANDS LIMITED
Du Parc Trinity, 8th Floor, 17,
Tel: +91-80-22973131
The Rs. 6000.000 millions Atul Products, set up in
1947, is one of the
A group company with the business ranging from Textile clothing to
Filter Aids to Perlite Products.
For more details, please contact at:
Mr. Shreyas C Sheth
Managing Director
AMOL DICALITE LIMITED
301, Akshay, 53, Shrimal Society, Navrangpura Society, Ahmedabad –
380009,
Tel: 91-79-26443331
Fax: 91-79-26569103
It is one of the leading Engineering companies engaged in manufacturing
process equipment for Chemicals, Refineries, Petrochemicals, Pharmaceuticals, Fertilizers,
Drugs and Allied Industries. The company is equipped with Laboratory to carry
out various destructive and non-destructive tests apart from an independent
quality control department. The company undertakes design and manufacture of
equipment's to meet the requirements of national and international codes such
as ASME, BS-5500, TEMA, EJMA, IBR, IS2825 etc for design, manufacturing and
testing apart from any other specific quality requirements specified by the
customer. Equipment and components are manufactured out of carbon steel,
stainless steel, monel, inconel, cupronickle, aluminum alloys, clad sheets,
quenched and tempered steels, etc.
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 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.72.91 |
|
Euro |
1 |
Rs.61.43 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
50 |
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.