MIRA
INFORM REPORT
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Report Date : |
21.01.2011 |
IDENTIFICATION DETAILS
|
Name : |
SHAKUN POLYMERS LIMITED |
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Registered Office : |
501 Ivory Terrace, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
03.04.1995 |
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Com. Reg. No.: |
04-25304 |
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CIN No.: [Company
Identification No.] |
U17119GJ1995PLC025304 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BRDS01178C |
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PAN No.: [Permanent
Account No.] |
AACCS5500Q |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business : |
Manufacturers of Wire and Cable Compounds |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (49) |
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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 820000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. Trade relations
are reported as fair. Business is active. Payments are reported to be usually
correct and as per 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
|
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 DENIED BY
|
Name : |
Mr. Kamal |
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Designation : |
Accounts Department |
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Date : |
19.01.2011 |
LOCATIONS
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Registered Office : |
501 Ivory Terrace, |
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Tel. No.: |
91- 265 - 2335 537 / 2330 920 / 2333 807 /
2353 987 / 3058 384 |
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Fax No.: |
91 - 265 - 2339 402 |
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E-Mail : |
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Website : |
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Factory : |
Plot No. 2-3, Silver Industrial Estate, |
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Tel. No.: |
91-265-2333807 |
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Fax No.: |
91-265-2339402 |
DIRECTORS
As On 26.07.2010
|
Name : |
Mr. Rajesh Dhanraj Bansal |
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Designation : |
Whole Time Director |
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Address : |
18, Gotri Co-operative Housing Society, |
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Date of Birth/Age : |
03.03.1964 |
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Date of Appointment : |
02.01.1996 |
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DIN No. : |
00002176 |
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Name : |
Mr. Rakesh Dhanraj Bansal |
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Designation : |
Whole Time Director |
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Address : |
04, Gotri Co-operative Housing Society, |
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Date of Birth/Age : |
27.03.1966 |
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Date of Appointment : |
02.01.1996 |
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DIN No. : |
00002179 |
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Name : |
Mr. Geetesh Dhanraj Bansal |
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Designation : |
Whole Time Director |
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Address : |
05, Gotri Co-operative Housing Society, |
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Date of Birth/Age : |
27.10.1967 |
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Date of Appointment : |
02.01.1996 |
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DIN No. : |
00002180 |
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Name : |
Mr. Vineet Surendra Kumar Jain |
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Designation : |
Additional Director |
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Address : |
7A, |
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Date of Birth/Age : |
10.12.1961 |
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Date of Appointment : |
02.03.2010 |
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Date of Cessation : |
01.06.2010 |
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DIN No. : |
00152703 |
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Name : |
Mr. Pankaj Vishwanath Maheshwary |
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Designation : |
Additional Director |
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Address : |
400, Atlantic IV, Near Natubhai Centre, Vadodara – 390007, |
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Date of Birth/Age : |
23.03.1960 |
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Date of Appointment : |
02.03.2010 |
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Date of Cessation : |
01.06.2010 |
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DIN No. : |
00293068 |
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Name : |
Mr. Alok Vishwanath Maheshwary |
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Designation : |
Additional Director |
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Address : |
201/202, Samprat, 52 Alkapuri, Vadodara – 390007, |
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Date of Birth/Age : |
28.06.1961 |
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Date of Appointment : |
02.03.2010 |
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Date of Cessation : |
01.06.2010 |
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DIN No. : |
00292995 |
KEY EXECUTIVES
|
Name : |
Mr. Kamal |
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Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As On 26.07.2010
|
Names of Shareholders |
|
No. of Shares |
|
Ritu Bansal |
|
184000 |
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Seema Bansal |
|
422000 |
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Ashima Bansal |
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241200 |
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Rajesh Bansal – HUF |
|
150900 |
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Rakesh Bansal – HUF |
|
113000 |
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Rakesh Bansal |
|
300700 |
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Geetesh Bansal |
|
186700 |
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Rajesh Bansal |
|
79300 |
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Geetesh Bansal – HUF |
|
222500 |
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Shakuntala Bansal |
|
488300 |
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Dhanraj Bansal |
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100000 |
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Pritesh Bansal |
|
18700 |
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Rishina Bansal |
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102200 |
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Anirudha Bansal |
|
155300 |
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Abhinav Bansal |
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80300 |
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Tanushree Bansal |
|
23800 |
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Tanushree Bansal Education Trust – |
|
75000 |
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Abhinav Bansal Education Trust – |
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75000 |
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Hemang Bansal Education Trust – |
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75000 |
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Ritvigya Bansal |
|
161100 |
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Hemang Bansal |
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73700 |
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Kavita Agarwal |
|
4000 |
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Devadas Nair |
|
100 |
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Garima Bansal |
|
18700 |
As On 26.07.2010
|
Category |
Percentage |
|
Directors or relatives of Directors |
96.00 |
|
Other top fifty shareholders |
4.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers of Wire and Cable Compounds |
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Products : |
v
Ecotek Halogen Free
Flame Retardant Compounds v
Frtek PVC Flame
Retardant Compounds v
XL Tek Crosslinkable
Compounds v
Escon Tek Semi
Conductive Compounds v
Vinyl Tek PVC
Compounds v
PE Insulation
Insulation Polyethylene Compounds v
PE Sheathing Black
Polyethylene Compounds |
PRODUCTION STATUS (As On 31.03.2010)
|
Particulars |
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Unit |
Installed
Capacity |
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Halol Division |
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Tonnes |
4800 |
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Halol Unit – II |
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Tonnes |
3000 |
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Tonnes |
6000 |
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Cable |
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Kms |
50000 |
GENERAL INFORMATION
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No. of Employees : |
125 (Approximately) [20 – In Office + 105
– In Factory] |
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Bankers : |
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Facilities : |
Secured Loans
(Rs. in millions)
Unsecured Loans
(Rs. in millions)
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Shah Mehta and Bakshi Chartered Accountants |
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Address : |
2nd Floor, Prasanna House, Associated Society, |
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Tel. No.: |
91-265-2331060/2337727/2355435 |
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Fax No.: |
91-265-2343227 |
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E-mail : |
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Pan No. : |
AABFJ1738M |
CAPITAL STRUCTURE
As on 21.09.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
4000000 |
Equity Shares |
Rs. 10/- each |
Rs. 40.000 millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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|
3460000 |
Equity Shares |
Rs. 10/- each |
Rs. 34.600
Millions |
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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 |
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|
|
|
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1] Share Capital |
34.600 |
34.600 |
34.600 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
172.739 |
126.621 |
110.901 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
207.339 |
161.221 |
145.501 |
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LOAN FUNDS |
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1] Secured Loans |
204.140 |
165.104 |
191.743 |
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2] Unsecured Loans |
5.928 |
32.287 |
10.527 |
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TOTAL BORROWING |
210.068 |
197.391 |
202.270 |
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DEFERRED TAX LIABILITIES |
10.446 |
8.976 |
6.355 |
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TOTAL |
427.853 |
367.588 |
354.126 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
185.625 |
167.729 |
92.275 |
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Capital work-in-progress |
0.000 |
2.947 |
0.000 |
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INVESTMENT |
0.800 |
0.800 |
0.800 |
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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 |
141.347
|
116.046
|
101.927
|
|
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Sundry Debtors |
104.214
|
80.608
|
98.352
|
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Cash & Bank Balances |
6.464
|
27.127
|
72.207
|
|
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Other Current Assets |
14.660
|
4.788
|
23.909
|
|
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Loans & Advances |
22.072
|
13.774
|
11.126
|
|
Total
Current Assets |
288.757
|
242.343
|
307.521
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
27.925 |
31.502 |
26.902 |
|
|
Other Current Liabilities |
0.505
|
1.262
|
0.419
|
|
|
Provisions |
18.899
|
13.469
|
19.149
|
|
Total
Current Liabilities |
47.329
|
46.233
|
46.470
|
|
|
Net Current Assets |
241.428
|
196.110
|
261.051
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
427.853 |
367.588 |
354.126 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
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SALES |
|
|
|
|
|
|
|
Income |
891.456 |
1081.508 |
756.340 |
|
|
|
Other Income |
9.958 |
11.246 |
91.323 |
|
|
|
TOTAL (A) |
901.414 |
1092.754 |
847.663 |
|
|
|
|
|
|
|
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Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing Expenses |
742.084 |
923.610 |
738.517 |
|
|
|
Administrative and Selling expenses |
45.109 |
62.151 |
41.759 |
|
|
|
Increase / Decrease in Stocks |
(6.475) |
28.312 |
(31.440) |
|
|
|
TOTAL (B) |
780.718 |
1014.073 |
748.836 |
|
|
|
|
|
|
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|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
120.696 |
78.681 |
98.827 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
20.941 |
31.572 |
15.315 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
99.755 |
47.109 |
83.512 |
|
|
|
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|
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|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
15.243 |
10.829 |
7.996 |
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|
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|
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|
PROFIT BEFORE
TAX (E-F) (G) |
84.512 |
36.280 |
75.516 |
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|
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Less |
TAX (I) |
30.325 |
14.488 |
26.301 |
|
|
|
|
|
|
|
|
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|
PROFIT AFTER TAX
(G-I) (J) |
54.187 |
21.792 |
49.215 |
|
|
|
|
|
|
|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
101.027 |
87.486 |
49.243 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
5.419 |
2.179 |
4.900 |
|
|
|
Dividend |
6.920 |
5.190 |
5.190 |
|
|
|
Tax on distributed profits |
1.149 |
0.882 |
0.882 |
|
|
BALANCE CARRIED
TO THE B/S |
141.726 |
101.027 |
87.486 |
|
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|
|
|
|
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EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
293.836 |
520.311 |
413.240 |
|
|
|
Commission Earnings |
9.196 |
10.665 |
6.180 |
|
|
TOTAL EARNINGS |
303.032 |
530.976 |
419.420 |
|
|
|
|
|
|
|
|
|
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IMPORTS |
381.322 |
397.848 |
271.503 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
15.66 |
6.30 |
14.22 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
6.01
|
1.99
|
5.81 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
9.48
|
3.35
|
9.98 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
17.81
|
8.85
|
18.89 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.41
|
0.23
|
0.52 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.24
|
1.51
|
1.71 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
6.10
|
5.24
|
6.62 |
LOCAL AGENCY FURTHER INFORMATION
The details of
sundry creditors:
Rs.
In Millions
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Sundry Creditors |
|
|
|
|
Creditors – others |
|
|
|
|
For raw materials |
25.403 |
25.187 |
|
|
Fro expenses |
2.522 |
6.238 |
|
|
For Capital goods |
0.000 |
0.077 |
|
|
Total |
27.925 |
31.502 |
26.902 |
SALES AND MANUFACTURING
OPERATIONS:
During the year, the Company’s turnover was Rs.907.889 millions as compared to previous year’s Rs1064.442 millions. The Company’s profit before taxation was Rs.84.512 millions as compared to the profit of Rs 36.280 millions of previous year.
Form 8
|
Name of the
company |
SHAKUN POLYMERS LIMITED |
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Presented By |
Bank of |
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|
1) Date and description of instrument creating the change |
22.06.2005 Memorandum for
Release an |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 70.500
Millions
|
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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 |
Together with all
buildings and structure thereon and all plant and machinery attached to the
earth or permanently fastened to anything attached to earth, both present and
future |
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|
4) Gist of the terms and conditions and extent and operation of the charge. |
Term Loan Rate of Interest
– 2.25 % over BPLR i.e. 12.75 % p.a. monthly rest Margin –
Hypothecation of plant and machinery 29.90 % Repayable in 60
instalments of Rs. 0.250 Million each Cash Credit – Hypothecation 0.5 % over BPLR
i.e. 11.00 % p.a. monthly rest Margin : CC Hyp. Book
debts 40 % R. M. 25 % F G WIP and PM 30
% Letter of credit For DP L/C margin
10 % For DA L/C 10 %
at the time of opening 15 % at the time
of acceptance of documents Period 12 months Commission as per
guideline of the bank Bank Guarantee
: Margin 10 % by way of FDR and
Commission as per guideline of the bank.
|
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5) Name and Address and description of the person entitled to the charge. |
Bank of ATM Ajyot Ashram Branch, Indra Prastha, |
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6) Date and brief description of instrument modifying the charge |
NA |
||||||||||||
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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. |
NA |
|
Corporate
identity number of the company |
U17119GJ1995PLC025304 |
|
Name of the
company |
SHAKUN POLYMERS LIMITED |
|
Address of the
registered office or of the principal place of business in |
501, Ivory Terrace, |
|
This form is for |
Modification of
charge |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
v
Bank of ATM Ajyot Ashram Branch, Indra Prastha, |
|
Nature of
description of the instrument creating or modifying the charge |
Instrument
relating to extension of mortgage by constructive deposit / delivery of title
deeds. |
|
Date of
instrument Creating the charge |
14.10.2010 |
|
Amount secured by
the charge |
Rs. 330.600
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Cash Credit &
TL - at BPLR i.e. 12.00 p a at present with monthly rest Terms of
Repayment Working capital -
on demand, TL - old - as per earlier sanction, Tl - fresh in 54 monthly
installments Margin - stocks
of RM, SIP, FG - 25%, receivables - 30%, Tl - 25% Extent and
Operation of the charge - Various
credit facilities are collaterally secured by immovable properties more particularly
described in second schedule to the Mortgage deed |
|
Short particulars
of the property or assets charged |
Leasehold
property being Plot No.2104 adm. 5000 Sq. Mtrs of GIDC Ind. Estate at Halol
situated on land bearing R S No.1592 paiki in Regn Dist and Sub-Dist: Halol,
Dist: Panchmahal Property being N A Land adm. 1451 Sq. Mtrs bearing R S
No.39/2 and Plot No.2 in the scheme known as Silver Ind. Estate at Moje
Bhimpore and in the Regn Sub Dist. Daman, U T of Daman Property being N A
Land adm. 1156 Sq. Mtrs bearing R S No.39/1 and Plot No.3 in the scheme known
as Silver Ind. Estate at Moje Bhimpore and in the Regn Sub Dist. Daman, U T
of Daman Property being N A Land adm. 1273 Sq. Mtrs bearing R S No.38/4 and
Plot No.4 in the scheme known as Silver Ind. Estate at Moje Bhimpore and in
the Regn Sub Dist. Daman, U T of Daman Property being N A Land adm. 1391 Sq.
Mtrs bearing R S No.38/3 and Plot No.5 in the scheme known as Silver Ind.
Estate at Moje Bhimpore and in the Regn Sub Dist. Daman, U T of Daman
Property being N A Land adm. 1517 Sq. Mtrs bearing R S No.38/2 and Plot No.6
in the scheme known as Silver Ind. Estate at Moje Bhimpore and in the Regn
Sub Dist. Daman, U T of Daman leasehold property being all that piece and
parcel of land known as plot No.1801 in GIDC Ind. Estate consisting of R S
No.2423 and 2422 within the Vill: limit of Chandrapura, Tal: Halol Dist:
Panchmahal containing by admeasurement 11594.60 Sq. Mtrs |
|
Date of latest
modification prior to the present modification |
17.08.2009 |
|
Particulars of
the present modification |
By this execution
the charge extended to cover revised credit facilities from Rs.305.500
Millions to Rs.330.600 Millions {TL-I - Rs.1.300 millions + TL- II Rs.5.500
Millions + TL - III Rs.37.400 Millions + TL - IV Rs. 20.400 Millions + TL - V
(Fresh) - Rs.18.000 Millions + C C Hyp (LOC) Rs.170.000 Millions +
BP/BD(FBP/FBD/FUBP/FUBD) -Rs.50.000 Millions + BG = Rs.5.000 Millions +
Exporters Gold Cards - Rs.20.000 Millions + Exposure to forward contract
Rs.3.000 Millions aggregating to Rs.330.600 Millions} |
Contingent
Liabilities:
Guarantee given by the banks for which the company counter guarantee
amounting to Rs. 1.940 millions (Rs. 1.940 millions.)
Letter of Credit issued for purchases of raw materials Rs. 19.220
millions (Rs. 22.570 millions)
Fixed
Assets:
- Land
- Land (Hsg
Quarter)
- Factory Shed
- Hsg Quarter -
GIDC
- Plant and
Machinery
- Testing Equipment
- Other
Equipment
- Furniture and
Fixtures
- Vehicles
WEBSITE DETAILS:
PROFILE
Subject is in the
business of Compounding having focus on Wire and Cable Compounding Sector,
started its manufacturing activities in the year 1991. Now it has got three
manufacturing locations under the style of Halol,
The high level of
know-how in house with particular attention on production technologies is a
striving force of Shakun. The internal use of this know-how and continuous
research and development activities keeps it ahead of competition.
The product quality
standards offered are continuously monitored and guaranteed.
Every problem
encountered is effectively faced and solved in responsible and serious manner.
Investing its
resources periodically in manpower, test equipments for Research and
Technological development with an aim of constantly pursuing growth in its
production know-how.
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 :
The market
survey revealed that the amount of compensation sought by the subject is fair
an
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.
The 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. 45.58 |
|
|
1 |
Rs. 72.73 |
|
Euro |
1 |
Rs. 61.45 |
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 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
49 |
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.