MIRA
INFORM REPORT
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Report Date : |
13.01.2011 |
IDENTIFICATION DETAILS
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Name : |
MEGHMANI INDUSTRIES LIMITED |
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Formerly Known as : |
PATEL AGRO CHEM LIMITED |
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Registered Office : |
Unit II, Plot No.27, Phase I, Vatva GIDC Industrial Estate, Ahmedabad
– 382445, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
22.02.1993 |
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Com. Reg. No.: |
04-19013 |
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CIN No.: [Company
Identification No.] |
U29199GJ1993PLC019013 |
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Legal Form : |
A Closely Held Public Limited Liability Company. |
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Line of Business : |
Manufacturers, Sellers, Traders and Exporters of Dyes, Agrochemicals and Intermediates. |
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 4900000 |
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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 a part of Meghmani Group. It is a well established and a reputed company having track. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct and as per commitments.
The company can be considered 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
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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
MANAGEMENT NON CO- OPERATIVE
LOCATIONS
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Registered Office : |
Unit II, Plot No.27, Phase I, Vatva GIDC Industrial Estate, Ahmedabad
– 382445, |
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Tel. No.: |
91-79-25833381 / 25897793 |
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Fax No.: |
91-79-26463999/ 25834588 |
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E-Mail : |
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Website : |
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Head Office : |
Meghmani Europe SPRL Uitbreidingstraat 84, 2600 Tel:32-3-2182147 Fax:32-3-2182247
No.5-306 BuRuoNi DeZhengYuan,
Meghmani Organics USA, Inc. 8215 Vinoy Blvd. Apartment No.
403 Home : 1 704 510 1464 |
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Corporate Office : |
203-204, White
Cross, 15 Patel Society, Gulbai Tekra Road, Panchavati, Ahmedabad – 380006,
Gujarat, India |
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Tel. No.: |
91-79-26569901 /
282727 / 26467511 |
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Fax No.: |
91-79-26422600 |
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Factory 1 : |
Pigment Plants:
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Factory 2 : |
Agrochemicals
Plants:
Tel No. 91-2717-273204 / 273284 Fax No.: 91-2717-273117
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DIRECTORS
As on 20.08.2010
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Name : |
Mr. Natwarlalbhai M. Patel |
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Designation : |
Chairman cum Managing Director |
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Address : |
6 B, Ashok Vatika No. 1, Bopal |
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Date of Birth/Age : |
01.06.1953 |
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Date of Appointment : |
22.02.1993 |
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Name : |
Mr. Rameshbhai M Patel |
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Designation : |
Managing Director |
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Address : |
54 Shree Nathpark Society Nr. Manek Baug Hall Ambawadi, Ahmedabad -
380015, |
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Date of Birth/Age : |
01.03.1956 |
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Date of Appointment : |
22.02.1993 |
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E-Mail: |
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Name : |
Mr. Lalitbhai K Patel |
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Designation : |
Director |
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Address : |
31, Park Hill Siociety Opposite Karnavati Club Near Narmada Vasahant,
Ahmedabad;380015, |
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Date of Birth/Age : |
15.02.1967 |
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Date of Appointment : |
22.02.1993 |
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Name : |
Mr. Keyur Balkrishna Thakkar |
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Designation : |
Director |
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Address : |
L-14/265, Satyagraha Chhavani Society, |
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Date of Birth/Age : |
06.04.1968 |
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Date of Appointment : |
10.04.2007 |
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E-Mail: |
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Partnership Firm : |
Address: 77/ 78, Commercial Chambers,
Address: 603, Saffron, Near Bank of |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 20.08.2010
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Names of Shareholders |
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No. of Shares |
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Natwarlalbhai Patel |
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1287250 |
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Bhartiben N Patel |
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12500 |
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Disha N Patel |
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25000 |
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Ankit N Patel |
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25000 |
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Rameshbhai M Patel |
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850000 |
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Kalpanaben Patel |
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7500 |
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Karan R Patel |
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22500 |
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Vaishakhi Patel |
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20000 |
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Amita Ben Patel |
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985750 |
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Lalit K Patel |
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41500 |
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Jagrutiben Patel |
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7500 |
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Ganpatbhai Patel |
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288750 |
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Praful Patel |
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3000 |
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Shardaben Patel |
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512250 |
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Popatbhai Patel |
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15250 |
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Anil P Patel |
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7500 |
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Prashant Patel |
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5000 |
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Kurvaben Patel |
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337250 |
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Ananbhai Patel |
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12750 |
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Darshana Patel |
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10000 |
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Haribhai Patel |
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1500 |
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10375 |
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Kiranbhai Patel |
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11875 |
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Total |
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4500000 |
As on 20.08.2010
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Equity Share Breakup |
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Percentage of Holding |
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Category |
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Directors
or relatives of directors |
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100.00 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers, Sellers, Traders and Exporters of Dyes, Agrochemicals and Intermediates. |
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Products : |
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Brand Names : |
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Terms : |
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Purchasing : |
L/C (90 days) terms. |
PRODUCTION STATUS (As on 31.03.2010)
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Particulars |
Unit |
Installed
Capacity |
Actual
Production |
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Agrochemicals Basics |
MT |
3000 |
1441.33 |
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Solid Formulations |
MT |
-- |
2376.09 |
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Liquid Formulations |
MT |
-- |
2527.41 |
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Dyes and Others |
MT |
2100 |
319.48 |
GENERAL INFORMATION
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Customers : |
Pigments
Pesticides
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No. of Employees : |
68 (Approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
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Auditors : |
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Name : |
Balkrishna Thakkar and Company Chartered Accountant |
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Address : |
602, Saffron, Ambawadi, Ahmedabad-380015, |
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Associates/Subsidiaries : |
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CAPITAL STRUCTURE
As on 20.08.2010
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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4500000 |
Equity Shares |
Rs.10/- each |
Rs.45.000
millions |
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 |
45.000 |
18.000 |
18.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
1180.752 |
1024.095 |
849.370 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
1225.752 |
1042.095 |
867.370 |
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LOAN FUNDS |
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1] Secured Loans |
68.411 |
12.834 |
2.057 |
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2] Unsecured Loans |
124.224 |
115.924 |
188.174 |
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TOTAL BORROWING |
192.635 |
128.758 |
190.231 |
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DEFERRED TAX LIABILITIES |
28.124 |
11.713 |
9.538 |
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TOTAL |
1446.511 |
1182.566 |
1067.139 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
416.631 |
214.440 |
174.882 |
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Capital work-in-progress |
59.812 |
17.264 |
30.170 |
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INVESTMENT |
92.758 |
274.398 |
61.726 |
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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 |
490.380
|
374.935 |
415.488 |
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Sundry Debtors |
495.820
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548.222 |
417.428 |
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Cash & Bank Balances |
165.839
|
72.463 |
83.808 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
121.068
|
138.339 |
107.729 |
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Total
Current Assets |
1273.107
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1133.959
|
1024.453 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
209.664
|
148.085 |
173.714 |
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Other Current Liabilities |
125.577
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275.906 |
22.809 |
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Provisions |
60.556
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33.504 |
27.569 |
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Total
Current Liabilities |
395.797
|
457.495
|
224.092
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Net Current Assets |
877.310
|
676.464
|
800.361
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
1446.511 |
1182.566 |
1067.139 |
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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 |
1528.605 |
1686.397 |
1084.609 |
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Other Income |
16.658 |
13.178 |
10.867 |
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TOTAL |
1545.263 |
1699.575 |
1095.476 |
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Less |
EXPENSES |
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Raw Material Consumed |
867.074 |
1071.975 |
642.066 |
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Cost of Trading Sales |
70.746 |
37.629 |
58.780 |
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Manufacturing Expenses |
164.726 |
148.540 |
127.151 |
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Employee’s Emoluments |
34.038 |
28.744 |
22.908 |
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Administrative Expenses |
32.387 |
16.719 |
14.883 |
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Selling and Distribution Expenses |
133.133 |
130.255 |
104.154 |
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Stock Increase/(Decrease) |
(51.772) |
33.792 |
(29.725) |
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TOTAL |
1250.332 |
1467.654 |
940.217 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
294.931 |
231.921 |
155.259 |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
26.321 |
21.543 |
15.713 |
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PROFIT BEFORE
TAX |
268.610 |
210.378 |
139.546 |
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Less |
TAX |
66.561 |
29.336 |
26.660 |
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PROFIT AFTER TAX
|
202.049 |
181.042 |
112.886 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
745.108 |
600.383 |
510.656 |
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Less |
APPROPRIATIONS |
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Transfer to General Reserve |
30.000 |
30.000 |
20.000 |
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Interim Dividend |
6.750 |
0.000 |
2.700 |
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Final Dividend |
9.000 |
5.400 |
0.000 |
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Tax on Dividend |
2.642 |
0.918 |
0.459 |
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BALANCE CARRIED
TO THE B/S |
898.765 |
745.108 |
23.159 |
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EARNINGS IN
FOREIGN CURRENCY |
536.915 |
1291.246 |
579.128 |
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IMPORTS |
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Raw Materials |
633.179 |
876.962 |
495.428 |
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Stores & Spares |
15.498 |
0.932 |
1.155 |
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Capital Goods |
3.301 |
0.324 |
2.026 |
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TOTAL IMPORTS |
651.978 |
878.218 |
498.609 |
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Earnings Per
Share (Rs.) |
44.90 |
100.58 |
62.71 |
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KEY RATIOS
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PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
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PAT / Total Income |
(%) |
13.08
|
10.65 |
10.33 |
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Net Profit Margin (PBT/Sales) |
(%) |
17.57
|
12.47 |
12.92 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
15.90
|
15.60 |
10.81 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.22
|
0.20 |
0.16 |
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Debt Equity Ratio (Total Liability/Networth) |
|
0.48
|
0.56 |
0.48 |
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Current Ratio (Current Asset/Current Liability) |
|
3.22
|
2.48 |
4.57 |
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) |
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Sundry Creditors for Goods |
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Small Scale
Industries |
7.665 |
7.567 |
0.725 |
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Others |
167.230 |
106.486 |
142.620 |
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Sundry Creditors for Expenditure and
Others |
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Small Scale
Industries |
1.558 |
7.567 |
0.286 |
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Others |
33.211 |
31.706 |
30.083 |
Operations:
Turnover for the financial year ended 31.03.2010 amounted to Rs.1528.605
millions as compared to Rs.1686.397 millions for the year ended 31.03.2009.
The Profit after tax for the year amounted to Rs.202.049 millions as compared
to Rs.181.042 millions for the previous year.
AS PER WEB SITE
COMPANY PROFILE:
At Meghmani Organics Limited they believe that growth is
built on doing better than what is good enough, rising above individual
limitations and transgressing the borders of circumstantial impediments.
It was in 1986,
when Gujarat Industries was established as a partnership firm in
Today, Meghmani Organics Limited is a manufacturer of pigment and pesticide products in the country and is the recipient of several prestigious awards in recognition of its outstanding business performance.
COMPANY OVERVIEW:
Sound fundamentals, outstanding export performance, strong presence in the domestic market and a focused management team has seen Meghmani Organics Limited grow at a compounded annual growth rate (CAGR) of 17% and profits 10% over the past 3 years
The Rs.6000 million Rupees Meghmani Organics Limited is:
- One of the largest producers of pigment blue in the world
- One of the leading producers of pigment green
- One of
the largest producers of pesticides in
More than 80% of their pigment products and over 50% of
their pesticides products are exported the world over. They have four
multifunctional production facilities in Gujarat (
THE LANDMARKS IN THEIR JOURNEY
1986: Began operations to produce Phthalocynine Green 7, popularly known as Pigment Green 7 at Vatva Plant.
1995: Diversified into manufacture of Agrochemicals at Chharodi Plant.
1996: Expansion of pigments business. Panoli Plant was established to manufacture CPC Blue. CPC Blue is a key raw material used for the manufacture of their Pigment Blue (15) and Pigment Green (7) Products.
2003: Ankleshwar Plant was acquired to expand their range of Agrochemical Products.
COMPETITIVE
STRENGTHS
Experienced and Qualified Management
Team and Technical Personnel
They have a proven management team
led by founders who have over 100 years of collective experience in the
pigments and pesticides industry.
The production operations at each of their plants are managed by a team of skilled technical engineers with the requisite technical know-how to carry out their production processes. It is through their consistent research and development efforts in improving their production processes that they have developed an extensive range of products suitable for use in a multitude of applications. Their technical staff is highly qualified and trained, and many have had working experience with MNCs and other reputed large Indian companies. They have a workforce of over 850 employees. It is the expertise and dedication of their people that provide them the leverage to respond quickly to changing market trends and demands in the pigments and agrochemicals industry.
Diversified Customer Base
Their Pigments customers are mainly MNCs from a wide range of
industries such as printing inks, plastics, paints, textiles and leather, paper
and rubber. They have more than 200 Pigment products customers from various
countries in North America, Europe, Central and
They have more than 90 Agrochemical
customers, which include leading pesticides manufacturers from countries in
North America, Europe, Latin America and
They have a distribution network of
20 overseas distributors catering to their international markets for their
Pigments and Agrochemical products, and a chain of over 1,000 stockists,
agents, distributors and dealers covering the domestic market in
Cost Advantage
Vertical integration of production
processes yields some upstream products that are used as raw materials for
their pigment and agrochemical products. This allows for effective management
of costs and ensures regular supply of raw material of the desired quality.
Multi functional design of their
agrochemical production facilities provides flexibility to meet changing demand
requirements.
Strategic location of their
production facilities at close proximity to sources of raw materials lowers
procurement costs. Collectively, these features provide a distinct cost
advantage to their Company.
Established brand
names
Their Company's
brands, “Megastar', 'Megacyper' (Pesticide Formulations) and 'Meghafast'
(Pigments) are recognized names among consumers in
Year Award
1994-1995 National export award
from the President, Government of India
Award from Basic Chemicals, Pharmaceuticals and Cosmetics Export Promotion
Council (CHEMEXCIL), Mumbai
Certificate of merit for outstanding export performance from the Ministry of
Commerce, Government of
Award for excellent export performance from the Government of Gujarat
1995-1996 National export award
from the President, Government of India.
Export award from Gujarat Dyestuffs Manufacturers' Association (GDMA),
Ahmedabad
1996-1997 Award for excellent
performance in exports by the Federation of Indian Export Organization,
Government of India
Trophy for export performance from GDMA, Ahmedabad
Certificate of
merit for outstanding export performance from the Ministry of Commerce,
Government of India
1997-1998 Award for direct export of self
manufactured dyes by GDMA, Ahmedabad
Award for export
performance from GDMA, Ahmedabad
2000-2001 Award for excellent performance from
CHEMEXCIL, Mumbai
Award for appreciation of export performance from GDMA, Ahmedabad
Six Sigma award from General Electric
2002-2003 Award in appreciation of export performance
from GDMA, Ahmedabad
2002-2003 "First Award" for
outstanding export performance from Chemexcil, Mumbai
2003-2004 Certificate of Excellence - the “Niryat
Shree” award in the Chemicals, Drugs, Pharma and Allied products - Non-SSI
Category, from the Federation of Indian
Export Organisations (“FIEO”) for its outstanding export performance
2003-2004 Certificate of Excellence - the “Niryat Shree”
award in the Chemicals, Drugs, Pharma and Allied products - Non-SSI Category,
from the Federation of Indian Export
Organisations (“FIEO”) for its outstanding export performance
2004-2005 Silver Trophy - the “Niryat Shree” award in
the Chemicals, Drugs, Pharma and Allied products - Non-SSI Category, from the Federation of Indian Export Organisations
(“FIEO”) for its outstanding export performance
Certificate of Appreciation for Safety Rom the Gujarat Safety Council
(Ankleshwar site)
2005 SIAS Investors Choice Award for the most
transparent company
FORM 8:-
|
Name of the
company |
MEGHMANI
INDUATRIES LIMITED |
|
Presented By |
LALIT K PATEL |
|
1) Date and description of instrument creating the change |
29th January
1999, Memorandum of Entry for Equitable Mortgage on land and building
situated at Block No:101, Village Chharodi Taluka Sanand, District Ahmedabad,
|
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs.20.000 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 |
Freehold Non
Agricultural Land Bearing Block No.401 (Paiki) admeasuring 10718 Sq. Mts. Of Mouje
Chharodi of Laluka Sanand, District Ahmedabad together with any
superstructure standing thereon. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
|
|
5) Name and Address and description of the person entitled to the charge. |
State Bank of |
|
Corporate
identity number of the company |
U29199GJ1993PLC019013
|
|
Name of the
company |
MEGHMANI INDUSTRIES LIMITED |
|
Address of the registered
office or of the principal place of
business in |
Plot No 27
Phase-I Gidc Indestate Vatva, Ahmedabad – 382445, |
|
This form is for |
Modification of
charge |
|
|
90102662 |
|
Type of charge |
Immovable Property
|
|
Particular of
charge holder |
State Bank of |
|
Nature of
instrument creating charge |
Extension of Equitable
Mortgaged |
|
Date of
instrument Creating the charge |
13.08.2009 |
|
Amount secured by
the charge |
Rs. 280.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest EPC: As per SBI Exporters
Gold Card Scheme FBD: As Above CC: At SBAR Terms of
Repayment Working Capital:
On demand Margin Raw Material:25% Stock in Process:
25% Finished Goods:
25% LC: 10% BG: 10% EPC: 10% of FOB
Value Extent and
Operation of the charge The charge shall
operate as security by way of 1st charge on pari passu basis by way of
hypothecation of all the stocks, receivables, documents of title to the goods
, movable plant and machinery and all the current assets of the Company. Others As mentioned in
the agreement. |
|
Short particulars of the property or asset(s) charged
(including complete address and location of the property) |
All the stocks,
receivables, documents of title to the goods and all the current assets of
the Company. |
|
Date of instrument
modifying the charge |
17.01.1997 |
|
Particulars of
the present modification |
By this
modification charge shall enhanced from Rs. 20.000 Millions to Rs. 280.000
Millions. |
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.45.16 |
|
|
1 |
Rs.58.68 |
|
Euro |
1 |
Rs.70.64 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
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.