MIRA
INFORM REPORT
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Report Date : |
22.01.2011 |
IDENTIFICATION DETAILS
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Name : |
MAHARANI PAINTS ( |
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Registered Office : |
TA-3/146-C, Tughlakabad Extension, New Delhi-110019, |
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Country : |
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Financials (as on) : |
31.03.2009 |
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Date of Incorporation : |
07.01.1986 |
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Com. Reg. No.: |
55-23000 |
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CIN No.: [Company
Identification No.] |
U74899DL1986PTC023000 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELM08298D |
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Legal Form : |
Private Limited
Liability Company |
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Line of Business : |
Manufacturing of
Industrial Paints, Allied and Powder. |
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 2671460 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having satisfactory 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. 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 |
LOCATIONS
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Registered Office : |
TA-3/146-C, Tughlakabad Extension, New Delhi-110019, |
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Tel. No.: |
91-11-25054009/10/26092741 |
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Fax No.: |
91-11-25054008 / 26092413 |
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E-Mail : |
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Website : |
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Location : |
Leased |
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Factory : |
Plot No. 343,
344, 349, Sector 24, Faridabad-121005, |
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Tel. No.: |
91-129-25021128 /
29 |
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Fax No.: |
91-129-25023130 |
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Head Office : |
5L/156, NIT
Faridabad – 21001, |
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Tel No.: |
91-129-4054009/405010 |
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Fax No.: |
91-129-4054008 |
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Branches : |
·
Plot No. C-288, Tel No :- 91-24-2556959 TA-3/146-C, Tuglakabad Extn, Tel No :- 91-11-26092413 / 26094741 ·
Shop No. 1, 2 and 4, B-XVI, 1931, Gali No.
3, Preet Nagar, Sewakrupa, M. G. Ludhiana, ·
Hosur
: Plot No.6, Door No. 19C, Tel No :- 91-4344-247260 ·
Mumbai
: Arihant Industrial Estate, Gala No. 21,
Ground Floor, Plot No. 94-C and 94-D, Kranti Nagar, Saki Naka, Andheri
(East), Mumbai-400072, ·
# 14/4, 3rd Tel No :- 91-80-26756971 / 26759482 ·
Pune
: Shop No. 2 and 3, Gate No. 627, Kuruli,
Rajguru Nagar, Khed, Pune, Maharashtra, India Tel No :- 91-20-98228454 |
DIRECTORS
As on : 30.09.2009
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Name : |
Mr. Bhatia Raj
Baldev |
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Designation : |
Director |
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Address : |
House No. 1319, Sector
– 15, |
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Date of Birth/Age : |
18.03.1953 |
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Qualification : |
Graduate |
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Experience : |
27 years |
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Date of Appointment : |
07.01.1986 |
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Name : |
Mr. Bhatia Kumar
Raj |
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Designation : |
Director |
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Address : |
House No. 1043,
Sector – 15, |
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Date of Birth/Age : |
06.09.1958 |
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Qualification : |
Graduate |
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Experience : |
24 years |
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Date of Appointment : |
01.04.1995 |
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on : 30.09.2009
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Names of Shareholders |
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No. of Shares |
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Bhatia Raj Baldev |
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1890000 |
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R K Bhatia |
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1800000 |
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Bhatia Kumar
Vipin |
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1800000 |
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Bhatia Mukesh |
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1738350 |
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C. D. Bhatia |
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196650 |
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Rama Bhatia |
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1080000 |
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Manju Bhatia |
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180000 |
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Reeta Bhatia |
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180000 |
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Neelam Bhatia |
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135000 |
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Total |
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9000000 |
As on : 30.09.2009
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Category |
Percentage |
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Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
0.00 |
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Bodies corporate |
0.00 |
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Directors or relatives of Directors |
100.00 |
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Other top fifty shareholders |
0.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing of
Industrial Paints, Allied and Powder. |
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Products : |
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Exports : |
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Countries : |
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Imports : |
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Countries : |
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Terms : |
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Selling : |
Credit (60 days) |
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Purchasing : |
Credit (60 days) |
PRODUCTION STATUS
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Particulars |
Installed
Capacity |
Actual
Production |
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Epoxide Resins
(Powder Coating Paints) |
250 Tons per month |
120 Tons per month |
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Industrial Paints
Lacquers and Allied Products |
400 Tons per month |
100 Tons per month |
GENERAL INFORMATION
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No. of Employees : |
250 |
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Bankers : |
·
State
Bank of Travancore, NIT Faridabad, SIB Branch (Subject enjoys
Cash Credit facility of Rs.41 millions from its bankers)
(Subject enjoys
term loan of Rs.1.237 millions and Overdraft Facility and ash Credit facility
of Rs.11 millions with State Bank of
65, ·
State
Bank of
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Facilities : |
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Banking Relations
: |
Good |
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Auditors : |
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Name : |
T. R. Arya and
Associates Chartered
Accountant |
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Address : |
11, Darya Ganj, |
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Tel. No.: |
91-23261427 /
23266877 |
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Associates/Subsidiaries : |
Vamani Overseas Private
Limited |
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Amalgamation Process : |
The Company has successfully completed the
process of amalgamation with M/s. Sono Electricals Private Limited and M/s.
C. Dass Chemical Private Limited
(Companies in the same management) The scheme has been duly approved by the
honorable High out of |
CAPITAL STRUCTURE
AS ON : 31.03.2009
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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9,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 90.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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9,000,000 |
Equity Shares |
Rs.10/- each |
Rs.90.000 Millions |
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Note :
510000 Equity shares @100 each fully paid
There was a subdivision of shares during the year (During the year, Directors
brought in new capital of Rs. 39.000 millions directly into the share capital
by way of fresh Equity issue )
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
90.000 |
51.000 |
34.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
577.865 |
551.093 |
529.823 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
667.865 |
602.093 |
563.823 |
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LOAN FUNDS |
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1] Secured Loans |
391.731 |
373.830 |
284.862 |
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2] Unsecured Loans |
5.927 |
23.677 |
28.835 |
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TOTAL BORROWING |
397.658 |
397.507 |
313.697 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
1065.523 |
999.600 |
877.520 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
555.524 |
447.072 |
436.992 |
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Capital work-in-progress |
156.147 |
207.253 |
133.801 |
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INVESTMENT |
0.454 |
0.484 |
5.454 |
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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 |
124.999
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144.476
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148.755
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Sundry Debtors |
256.604
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255.904
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240.226
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Cash & Bank Balances |
7.659
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12.006
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10.873
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Other Current Assets |
0.000
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0.000
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0.000
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Loans & Advances |
42.168
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63.697
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33.820
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Total
Current Assets |
431.430
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476.083 |
433.674
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
77.480
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124.286
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130.169
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Sundry Creditors |
0.000
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0.000
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0.000
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Provisions |
0.930
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7.271
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2.567
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Total
Current Liabilities |
78.410
|
131.557 |
132.736
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Net Current Assets |
353.020
|
344.526 |
300.938
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MISCELLANEOUS EXPENSES |
0.378 |
0.265 |
0.335 |
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TOTAL |
1065.523 |
999.600 |
877.520 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2008 |
31.03.2007 |
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SALES |
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Income |
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834.852 |
879.800 |
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Other Income |
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0.000 |
0.000 |
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TOTAL (A) |
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834.852 |
879.800 |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
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758.264 |
805.782 |
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Advertising Expenses |
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TOTAL (B) |
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758.264 |
805.782 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
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76.588 |
74.018 |
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Less |
FINANCIAL
EXPENSES (D) |
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NA |
NA |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
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76.588 |
74.018 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
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NA |
NA |
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PROFIT BEFORE
TAX (E-F) (G) |
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76.588 |
74.018 |
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Less |
TAX (I) |
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31.306 |
0.000 |
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PROFIT AFTER TAX
(G-I) (J) |
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45.282 |
74.018 |
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KEY RATIOS
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PARTICULARS |
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31.03.2009 |
31.03.2008 |
31.03.2007 |
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PAT / Total Income |
(%) |
-- |
5.42 |
8.41
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Net Profit Margin (PBT/Sales) |
(%) |
-- |
9.17 |
8.41
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Return on Total Assets (PBT/Total Assets} |
(%) |
-- |
8.29 |
8.50
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Return on Investment (ROI) (PBT/Networth) |
|
-- |
0.11 |
0.13
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Debt Equity Ratio (Total Liability/Networth) |
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0.71 |
0.87 |
0.79
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Current Ratio (Current Asset/Current Liability) |
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5.50 |
3.61 |
3.27
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LOCAL AGENCY FURTHER INFORMATION
Its
product range includes
·
Polyurethane
Paints- A special high performance coating
- Epoxy Paints- A touch coating for mainly
Chemical, Corrosion and abrasion resistance
- Heat Resistance Paints –Heat resistance
upto 3000 C available in Black and
Grey Shades
- Acrylic Paints
- Thinner/Diluents
- Powder Paints
Company Overview :
The company started its operation in the year 1980 under the name & style of C.DASS CHEMICALS PVT. LTD. and over the years has earned the reorganization as a manufacturer of quality Paints and Allied products confirming to International Quality Standards.
MAHARANI PAINTS PVT. LTD. was incorporated in the year 1986 for manufacturing paints and as on date a leading manufacturer of Industrial Automotive Paints and Powder Coatings. Ever since its incorporation, the Company has been providing its customers the best quality products and services with a reasonable pricing policy
The manufacturing facilities are situated in
In April '97 the Company has obtained the ISO 9002 certification when it is
poised to take on all the new challenges to achieve the objective of providing
high quality at a lower cost by reducing wastages and variations in supply
chain, subsequently it has been upgraded to ISO 9001:2000 version since July
2003. Further the Company has obtained the certifications of ISO 14001:1996,
OHSAS 18001:1999 in December 2004.and TS 16949 : 2002 version in Feb 2007.
The factory is supported by :-
- Research and Development
Department is equipped with all the modern research and testing facilities
having the best skills in the Industry and is capable of developing
products as per customer's specification.
- An
efficient Customer Support Team dedicated to provide their assistance to
the customers in using the products with maximum ease and utility.
- The Marketing and Sales Department with wide network to cater customer's requirement all over the country.
The Financials :
During the year the company has Turnover of Rs. 861.200 Millions (Previous Year 982.500 millions). The Company Generated EBDIT of 123.400 millions, as compared to 130.200 millions last year. Since the company is into expansion mode, the allocation Depreciation and Interest Cost was substantially higher this year, and thus the Company generated net profit - (P.B.T.) for the year to the tune of Rs 48.500 millions (Last year Rs. 76.500 millions). The company is growing remarkably maintaining sound profitability rate of 6.53% (PBT/Net Sales). The Company is strategically opening up new branches country wide earmarking its national presence in Industrial Paints segment. The Directors congratulate all their employees, their shareholders, their business partners and all their associates for the fruitful year it was.
Business outlook for
the coming year :
The Company’s order book is healthy. Their share of investment in these projects is to be met all from internal accruals and Term Loans, both Rupee Denominated and Foreign Borrowings.
Form 8:
|
Corporate
identity number (CIN) Foreign company registration number |
U74899DL1986PTC023000 |
|
Name of the
Company |
MAHARANI PAINTS ( |
|
Address |
TA-3/146-C, Tughlakabad Extension, New Delhi-110019, |
|
This form is for |
Modification of
charge |
|
Type of Charge |
Immovable
Property Book Debts Movable Property
(not being pledge) Floating Charge |
|
Particulars of
the charge holder |
State Bank of 65, |
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Nature or
description of the instrument(s) creating or modifying the charge |
Agreement of loan
for overall limit (C-1) Agreement
Hypothecation Goods and Assets(C-2) |
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Date of the
instrument creating or modifying the charge |
21.12.2006 |
|
Amount secured by
the charge |
Rs.536.100
Millions |
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Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Rate of Interest
: Working Capital:
- AT 1.50% below SBAR, Minimum 9.50% p.a. with monthly rests against CRA
rating SB-2 and Corporate loan:-AR 1% below SBAR Minimum 10% p.a. with
monthly rests against CRA Rating of SBTL-1. Terms of
Repayments: Corporate Loan of
repayment at first 6 quarterly installment of Rs.3.700 Millions and Next 6
quarterly installment of Rs.3.800 Millions Margin : Raw Material- 25%
SIP and FG-30% Stores and
spares- 40% Receivables- 30% Letter of credit-
10% Extent and
operation of the charge: Primary Security:
CC Hypothecation of first charge on pari passu basis with ICICI Bank on the
entire current assets, present and future, of company. Our share 96% and on
term loan first charge over all the fixed assets with a Wdv of Rs.129.400
Millions as at 31.03.2006. The above includes the following E. M. of Plot
No.349/ Sector – 24, Other : Personal
Guarantee of all the directors of the company namely Mr. B R Bhatia, R K
Bhatia, Vipen Bhatia, Mukesh Bhatia and Third party of Guarantee of Mr. Rama
Bhatia, corporate Guarantee of MS Bhatia Sons, Vipen Sons and V k Bhatia and
Sons. Corporate Guarantee of Sono Electricals Private Limited |
|
Short particulars
of the property charged (including location of the property) |
Collateral : Plot
No.343, Sector – 24, Faridabad of MS Bhatia Sons Plot No.344, Sector – 24
Faridabad, Vipen and Company Plot No.1044/Sector 15, Faridabad, of Mr. Vipen
Bhatia Plot No.1045/ sector No.15, Faridabad, of Mr. Rama Bhatia, Plot
No.1314, Sector 15, Faridabad, of Ms V k Bhatia and Sons (HUF), and Plot
No.241/242, Sector 24 in the name of Sono Electricals Private Limited. |
|
Particular of the
present modification |
Limit Enhanced to
Rs.536.100 Millions CC Hypothecation
Rs.260.000 Millions CC Book Debts of
Rs.200.000 Millions Term Loan of
Rs.21.100 Millions Corporate Loan
Rs.45.000 Millions LC (Foreign)
Rs.180.000 Millions And SLC Rs.30.000
Millions |
|
Name of the company |
MAHARANI
PAINTS INDIA PRIVATE LIMITED |
|
Presented By |
Mr. B R Bhatia, Director |
|
1) Date and description of instrument creating the change |
General Agreement Dated 4.10.199 registered on 29.10.1999 for Rs.19.800 Millions which enhanced to Rs.25.500 Millions dated 20.04.2001 registered on 02.05.2001 which further enhanced to Rs.28.000 Millions dated 18.09.2001registered on 25.09.2001 further enhanced to Rs.34.500 Millions dated 26.11.2002registered on 23.12.2002.Further enhanced to Rs.38.500 Millions at 14.10.2003 Registered on 13.11.2003 which further enhanced to Rs.61.700 Millions at 2.03.2004 registered on 29.03.2001. |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.19.800 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 |
Hypothecation of all goods, movable, Plant and Machinery, Stock
in trade, Book Debts and other assets to the borrower equitable mortgage of
land and building at plot no. 349 sec. 24, |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Rate of Interest @ 2.25% Over SBAR minimum rate @14.25% + Interest Tax. Present effective Rate is 14.53% p.a. |
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5) Name and Address and description of the person entitled to the charge. |
State Bank of |
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6) Date and brief description of instrument modifying the charge |
Dated 31.01.2005 Form C1 – A Supplemental Agreement of loan for increase in the overdraft limit. Form C2 – A, Supplemental Agreement of Hypothecation of goods + Assets for increase in the over all limit. Letter confirming deposits of title deeds. |
|
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. |
Present limit enhanced to Rs.109.000 Millions, (CC[Stock]) of Rs.18.500Millions CC Book Debts – Rs. 30.000 Millions, DDP Cheque - Rs.150.000 Millions stand by line of credit LC = Rs.150.000 Millions, CC Limit Rs.15.000 Millions, Adhoc SLC – Rs.7.500 Millions , Letter of Credit – Rs.10.000 Millions , Adhoc L.C Rs.25.000 Millions Hypothecation of Stocks of Stores – Spares, SIP, Lying in factory, Godown and else where including goods in transit, Hypothecation of present & future book debts, receivables equitable mortgage of land & Building 349, Sector 24, Faridabad owned by the company charged on current + Fixed assets of the company present and future corporate guarantee of M/S Sono Electrical (Private) Limited in favour of State Bank of India, SIB Branch, by equitable mortgage of its land and building at Sector 24, Faridabad, measuring 2200 sq. yards. Rate of Interest 2.00% over SBAR minimum 12.25% p.a. at monthly. |
|
Corporate
identity number of the company |
U74899DL1986PTC023000 |
|
Name of the
company |
MAHARANI PAINTS
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
TA-3/146-C,
Tuglakabad Extension, |
|
This form is for |
Creation of
charge |
|
Type of charge |
Immovable
property Book debts Movable property
(not being pledge) Floating charge Others |
|
Particular of
charge holder |
State Bank Of |
|
Nature of
instrument creating charge |
Letter Of
Arrangement, Guarantee Agreement. |
|
Date of
instrument Creating the charge |
26/07/2010 |
|
Amount secured by
the charge |
Rs. 67.500
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest : Rate Of Intt.
Will Be What Is Applicable To The Various Credit Facilities Or Such
Commission Charges To Facilities Extended To Borrower M/S Jaipur Crafts
Private Limited. Terms of repayment : Failure Or
Default Of The Borrower Will Enforce The Gurantor To Pay For All Such
Interest Cost, Charges, Expenses Or Other Monies Which Remain Unpaid To The
Bank. Margin : Not Applicable. Extent And Operation Of The Charge : Corporate
Guarantee Be Made By The Company With State Bank Of (Cash Credit
(Hyp.) Rs.20.000 millions Which Include Epc Rs.20.000 millions And Term Loan
Rs.47.500 millions). This Limit Sanctioned Is In Favour Of Jaipur Crafts
Private Limited. Other : Nil |
|
Short particulars
of the property charged (Including location of the property) |
NIL |
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. 45.70 |
|
|
1 |
Rs. 72.78 |
|
Euro |
1 |
Rs. 61.65 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--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.