MIRA
INFORM REPORT
|
Report Date : |
06.01.2011 |
IDENTIFICATION DETAILS
|
Name : |
KASTURI AND SONS LIMITED |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
21.02.1940 |
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Com. Reg. No.: |
18-1091 |
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CIN No.: [Company
Identification No.] |
U22110TN1940PLC001091 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CHEK00065C |
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PAN No.: [Permanent
Account No.] |
AAACK3000H |
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Legal Form : |
A closely held public limited liability company. |
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Line of Business : |
The company acts as publishers. The company is engaged in printing, publishing and circulating of magazines and newspapers. It also acts as importers and exporters. |
RATING & COMMENTS
|
MIRA’s Rating : |
A (59) |
|
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 |
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Maximum Credit Limit : |
USD 21000000 |
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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 having fine track. Financial
position of the company appears to be sound. Trade relations are reported as
fair. Business is active. Payments are reported to be regular and as per
commitments. The company can be considered normal for business dealing 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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION DECLINED BY
|
Name : |
Mr. Prashant |
|
Designation : |
Accounts Department |
|
Date : |
05.01.2011 |
LOCATIONS
|
Registered Office : |
|
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Tel. No.: |
91-44-28413344 / 8535067/ 28576300 |
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Fax No.: |
91-44-28415325/ 28551046 |
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E-Mail : |
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Website : |
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Branches : |
Located At:
Also located At: |
DIRECTORS
As on 29.09.2010
|
Name : |
Mr. Narasimhan Ram |
|
Designation : |
Whole Time Director |
|
Address : |
43B |
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Date of Birth/Age : |
04.05.1946 |
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Qualification : |
M.,A, M.S (Journalism), |
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Experience : |
42 Years |
|
Date of Appointment : |
21.06.2001 |
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|
Name : |
Mr. Narasimhan Murali |
|
Designation : |
Managing Director |
|
Address : |
260A, |
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Date of Birth/Age : |
11.08.1946 |
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Qualification : |
B.Com, A.C.A |
|
Experience : |
39 Years |
|
Date of Appointment : |
13.11.2000 |
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|
Name : |
Mr. Narasimhan Ravi |
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Designation : |
Whole Time Director |
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Address : |
43A, |
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Date of Birth/Age : |
01.01.1948 |
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Qualification : |
M.A, B.L |
|
Experience : |
36 Years |
|
Date of Appointment : |
23.07.2005 |
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|
Name : |
Mrs. Nirmala Lakshmanan |
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Designation : |
Director |
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Address : |
30A, |
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Date of Birth/Age : |
30.01.1954 |
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Qualification : |
M.A, Ph.D |
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Experience : |
30 Yearss |
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Date of Appointment : |
04.03.2001 |
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|
Name : |
Mrs. Nalini Krishnan |
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Designation : |
Whole Time Director |
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Address : |
7A, |
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Date of Birth/Age : |
13.10.1956 |
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Qualification : |
M.D |
|
Experience : |
17 Years |
|
Date of Appointment : |
21.06.2001 |
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|
|
Name : |
Mrs. Parthsarathy Malini |
|
Designation : |
Whole Time Director-Joint Editor |
|
Address : |
280, |
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Date of Birth/Age : |
15.08.1959 |
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Qualification: |
M.S. (Journalism), |
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Experience: |
25Years |
|
Date of Appointment : |
21.06.2001 |
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|
Name : |
Mr. Ramesh Rangarajan |
|
Designation : |
Director |
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Address : |
7, |
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Date of Birth/Age : |
18.10.1959 |
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Qualification: |
B.A |
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Experience: |
25 Years |
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Date of Appointment : |
21.06.2001 |
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|
Name : |
Mr. Kasturi Venugopal |
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Designation : |
Director |
|
Address : |
43/4, |
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Date of Birth/Age : |
18.08.1957 |
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Qualification: |
M.A, M.S. (Journalism) |
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Experience: |
28 Years |
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Date of Appointment : |
05.07.2005 |
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|
Name : |
Mr. Kasturi Balaji |
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Designation : |
Whole Time Director |
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Address : |
43/4, |
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Date of Birth/Age : |
24.09.1955 |
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Qualification: |
B.com, M.M.S |
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Experience: |
31 Years |
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Date of Appointment : |
01.10.2000 |
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|
Name : |
Mr. Srinath Lakshmi |
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Designation : |
Director |
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Address : |
60, First Main Road, R A Puram, Chennai – 600018, Tamilnadu |
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Date of Birth/Age : |
23.09.1959 |
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Qualification: |
B.A, C.LIB, SC |
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Experience: |
9 Years |
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Date of Appointment : |
05.07.2000 |
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|
Name : |
Mr. Akila Vijay Iyengar |
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Designation : |
Whole Time Director |
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Address : |
15, |
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Date of Birth/Age : |
20.06.1965 |
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Date of Appointment : |
28.08.2008 |
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|
Name : |
Mr. Vijaya Arun |
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Designation : |
Director |
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Address : |
122, St. Mary’s Road, Chennai-600018, |
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Date of Birth/Age : |
11.04.1963 |
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Qualification: |
M.Sc, PG Diploma in Pre-primary education and in Techning Young Hearing impaired |
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Experience: |
12/2Years |
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Date of Appointment : |
01.10.2007 |
KEY EXECUTIVES
|
Name : |
Mr. S. Kuppuswamy |
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Designation : |
Company Secretary |
|
Address : |
APT. No “C”, Shrinivas Enclave, Old No. 18, New No. 10, Wason Street, T.
Nagar, Chennai-600017, Tamilnadu, India |
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Date of Birth/Age : |
01.07.1941 |
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Date of Appointment : |
22.11.2002 |
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|
Name : |
Mr. Prashant |
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Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Vijay Iyengar Akila |
|
2708 |
|
|
|
4000 |
|
R. Ramesh and Ramesh Archit |
|
8000 |
|
K. Balaji |
|
2500 |
|
Venugopal Divya |
|
5200 |
|
Kasturi Kamala |
|
2469 |
|
M. Krishna |
|
4000 |
|
Murali Kanta |
|
4000 |
|
Srinath Lakshmi |
|
10463 |
|
Venugopal Lavanya |
|
5200 |
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Parthasarathy Menaka |
|
13020 |
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Parthasarathy Malini |
|
10396 |
|
Balaji Madhumita |
|
11112 |
|
Lakshman Nirmala |
|
3592 |
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Krishnan Nalini |
|
1017 |
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Krishnan Nalini and Krishnan Akshay |
|
3500 |
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Krishnan Nalini and Krishnan Ananth |
|
3500 |
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Narayan Lakshman |
|
3350 |
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R. Ramesh and Ramesh Rohit |
|
8000 |
|
Rangarajan Shanta |
|
12974 |
As on 29.09.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
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Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
15.76 |
|
Bodies
corporate |
|
3.07 |
|
Directors
or relatives of directors |
|
81.17 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company acts as publishers. The company is engaged in printing, publishing and circulating of magazines and newspapers. It also acts as importers and exporters. |
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Product: |
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PRODUCTION STATUS AS ON 31.03.2010
|
Particular |
310.03.2010 |
|
Installed capacity (Copies per hour of the Hindu size) |
|
|
1)
of 32 pages |
455000 |
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2)
of 24 pages |
455000 |
|
Particular |
310.03.2010 |
|
Production (in 000’s) |
|
|
1)The Hindu |
518595 |
|
2) The Hindu
Business Line (Production figures of other publications
have not been given as they form less than 10 % of the total in value) |
69678 |
GENERAL INFORMATION
|
No. of Employees : |
1300 (Approximately) |
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Bankers : |
v HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel, West, Mumbai-400013, Maharashtra, India v
ICICI Bnk limited, v
Central Bank of |
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Facilities : |
Note:
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Brahmayya and Company Chartered Accountants |
|
Address : |
45, |
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Joint Ventures: |
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CAPITAL STRUCTURE
As on 29.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000 |
Equity Shares |
Rs.100/- each |
Rs.50.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
176000 |
Equity Shares |
Rs.100/- each |
Rs.17.600
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 |
17.600 |
17.600 |
17.600 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
5243.666 |
4998.668 |
4879.500 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
5261.266 |
5016.268 |
4897.100 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
3317.250 |
3308.024 |
3052.913 |
|
|
2] liability for Leased Assets |
69.069 |
105.802 |
93.674 |
|
|
3] Unsecured Loans |
817.881 |
861.594 |
241.571 |
|
|
TOTAL BORROWING |
4204.200 |
4275.420 |
3388.158 |
|
|
DEFERRED TAX LIABILITIES |
425.613 |
353.013 |
296.014 |
|
|
|
|
|
|
|
|
TOTAL |
9891.079 |
9644.701 |
8513.247 |
|
|
|
|
|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
7013.283 |
5930.960 |
4528.211 |
|
|
Capital work-in-progress |
142.018 |
201.652 |
892.524 |
|
|
|
|
|
|
|
|
INVESTMENT |
70.124 |
59.325 |
25.125 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1073.245
|
1952.269 |
1022.349 |
|
|
Sundry Debtors |
1510.800
|
1317.815 |
1548.491 |
|
|
Cash & Bank Balances |
534.113
|
513.493 |
1799.195 |
|
|
Other Current Assets |
70.491
|
73.954 |
132.097 |
|
|
Loans & Advances |
799.623
|
3459.534 |
2801.031 |
|
Total
Current Assets |
3988.272
|
7317.065 |
7303.163 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
756.426
|
918.303 |
1265.586 |
|
|
Other Current Liabilities |
271.870
|
248.169 |
330.210 |
|
|
Provisions |
294.322
|
2697.829 |
2639.980 |
|
Total
Current Liabilities |
1322.618
|
3864.301 |
4235.776 |
|
|
Net Current Assets |
2665.654
|
3452.764 |
3067.387 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
9891.079 |
9644.701 |
8513.247 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Advertisement |
6497.403 |
6778.194 |
7279.287 |
|
|
|
Circulation |
1207.399 |
1092.455 |
1103.300 |
|
|
|
Other Income |
176.927 |
183.772 |
186.866 |
|
|
|
TOTAL (A) |
7881.729 |
8054.421 |
8569.453 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Newsprint, Paper, Ink consumed |
2589.142 |
2958.548 |
2268.011 |
|
|
|
Stores Consumed |
180.023 |
172.970 |
139.714 |
|
|
|
News Gathering |
142.668 |
139.584 |
120.293 |
|
|
|
Power |
149.636 |
131.637 |
121.077 |
|
|
|
Salaries , Wages and Other Employee Benefits |
2077.519 |
1923.410 |
1530.335 |
|
|
|
Commission |
8.245 |
8.034 |
6.667 |
|
|
|
Distribution Expenses |
235.738 |
276.909 |
204.732 |
|
|
|
Repairs, Renewals and Maintenance |
135.724 |
136.409 |
109.955 |
|
|
|
Other Expenses |
891.223 |
916.861 |
845.563 |
|
|
|
TOTAL (B) |
6409.918 |
6664.362 |
5346.347 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1471.811 |
1390.059 |
3223.106 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
371.582 |
307.243 |
249.284 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1100.229 |
1082.816 |
2973.822 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
699.222 |
629.701 |
600.597 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
401.007 |
453.115 |
2373.225 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
84.144 |
210.400 |
895.698 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
316.863 |
242.715 |
1477.527 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2590.453 |
2772.785 |
1975.164 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Interim dividend paid during the year |
8.800 |
26.400 |
110.000 |
|
|
|
Interim dividend paid after the close of
the years |
26.400 |
26.400 |
88.000 |
|
|
|
Proposed dividend |
26.400 |
52.800 |
88.000 |
|
|
|
Dividend tax |
10.265 |
17.947 |
48.606 |
|
|
|
Transfer to general reserve |
31.700 |
301.500 |
345.300 |
|
|
BALANCE CARRIED
TO THE B/S |
2803.751 |
2590.453 |
2772.785 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
0.908 |
0.781 |
0.786 |
|
|
|
Royalty |
9.594 |
15.264 |
10.259 |
|
|
|
Interest |
0.465 |
9.272 |
7.265 |
|
|
|
Advertisement and Other |
30.895 |
63.024 |
55.940 |
|
|
TOTAL EARNINGS |
41.862 |
88.341 |
74.250 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
1125.896 |
2942.080 |
1811.417 |
|
|
|
Stores & Spares |
58.397 |
110.017 |
130.320 |
|
|
|
Capital Goods |
1161.890 |
540.160 |
295.174 |
|
|
TOTAL IMPORTS |
2346.183 |
3592.257 |
2236.911 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1800 |
1379 |
8395 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
4.02
|
3.01 |
17.24 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.21
|
5.75
|
28.31 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.65
|
5.63
|
20.06 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07
|
0.09
|
0.48 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.05
|
1.62
|
1.54 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.02
|
1.89
|
1.72 |
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors:
|
Particulars |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
31.03.2008 (Rs. in millions) |
|
Sundry Creditors |
756.426
|
918.303 |
1265.586 |
OPERATIONS AND
OUTLOOK:
The decline in advertising revenues that
began in November 2008 lasted till November 2009, well into the financial year.
Newsprint prices showed a sharp downward trend till July-September 2009 but
started firming up thereafter and continue to climb. Among the causative
factors are capacity rationalization (including mill closures) in
Bankers Charges
Report as per Registry
|
Name of the company |
KASTURI AND SONS
LIMITED |
|
Presented By |
KASTURI AND SONS LIMITED |
|
1) Date and description of instrument creating the change |
Memorandum
relating to hypothecation of machinery dated 1st September 2003 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Term loan
Rs.100.000 millions |
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
First charge on
machinery on pari passu basis with ICICI Bank Limited |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Interest @ 8.35%
per annum |
|
5) Name and Address and description of the person entitled to the charge. |
HDFC Bank
Limited, 751-B, Anna Salai, Mariam Centre, Chennai-600002, |
|
6) Date and brief description of instrument modifying the charge |
Nil |
|
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
Nil |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10219044 |
|
Corporate
identity number of the company |
U22110TN1940PLC001091 |
|
Name of the
company |
KASTURI AND SONS
LIMITED |
|
Address of the
registered office or of the principal place of business in |
|
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
ICICI Bnk limited, |
|
Email |
|
|
Nature of
description of the instrument creating or modifying the charge |
On 21/08/2010
mortgage was created by the borrower in favour of ICICI Bank Limited by deposit
of title deeds of immovable properties situated at various places with ICICI
Bank Limited acting for itself and as Agent for HDFC Bank Limited in order to
create security thereon pursuant to resolution passed by borrower on
29/06/2007. |
|
Date of instrument
Creating the charge |
21.08.2010 |
|
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 9.90% p.a. Terms of
Repayment 20 quarterly
instalments from the middle of fifth quarter from the initial draw down date. Extent and
Operation of the charge First pari pasu
charge over immovable properties situated various places with other term
lenders both present and future. |
|
Short particulars
of the property charged |
First pari passu
charge over immovable properties of the company situated various places with
other term lenders present and future. |
|
Particulars of
the present modification |
The equitable mortgage
was created by deposit of title deeds of the Companies immovable properties
situated various places for this loan which was hither to secured by movables
of the company. |
FIXED ASSETS
Ř
Ř
Ř Building
Ř Plant and Machinery
Ř Electrical Installations
Ř Office Machinery
Ř Furniture
Ř Vehicles
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.45.20 |
|
|
1 |
Rs.70.27 |
|
Euro |
1 |
Rs.59.99 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
6 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
59 |
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.