MIRA
INFORM REPORT
|
Report Date : |
24.01.2011 |
IDENTIFICATION DETAILS
|
Name : |
GARGI HUTTERIES ALBERTUS
PRIVATE LIMITED (w. e. f. 01.07.1997) |
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Formerly Known
As : |
GARGI HUTTENES ALBERTUS LIMITED |
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Registered
Office : |
203, Vasant Vihar Complex, Next to Basant Cinema, Dr. C Gidwani Road,
Mumbai - 400074, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of Incorporation
: |
07.03.1988 |
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Com. Reg. No.: |
11-46413 |
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CIN No.: [Company Identification
No.] |
U74999MH1988PTC046413 |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business
: |
Manufacturers of Foundry Chemicals and Fluxes. |
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 1500000 |
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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 PARTED BY
|
Name : |
Mr. Gaurav Kapoor |
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Designation : |
Director |
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Date : |
21.01.2011 |
LOCATIONS
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Registered Office : |
203, Vasant Vihar Complex, Next to Basant Cinema, Dr. C Gidwani Road,
Mumbai - 400074, Maharashtra, India |
|
Tel. No.: |
91-22-25563596 / 25563597 / 25562705 / 25580815 / 25564379
/ 25201596 / 97 |
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Fax No.: |
91-22-25562706 / 25562080 / 25202706 / 3080 |
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E-Mail : |
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Website : |
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Factory : |
Plot No. D-360, M.I.D.C., TTC Industrial Area, District
Thane, |
DIRECTORS
As On : 13.08.2010
|
Name : |
Mr. Vinod Vishwamitra Kapur |
|
Designation : |
Chairman cum
Managing Director |
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Address : |
18, |
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Date of Birth/Age : |
26.10.1943 |
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Qualification : |
B.Sc. |
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Previous Employment: |
Gargi Chemicals Private
limited for 24 Years |
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Date of Appointment : |
07.03.1988 |
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Election Commission ID No : |
MT07047505690 |
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DIN No : |
00474054 |
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Name : |
Mr. Vicky Vishwamitra Kapur |
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Designation : |
Managing Director |
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Address : |
18, |
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Date of Birth/Age : |
30.10.1952 |
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Qualification : |
B.Sc. |
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Previous Employment: |
Gargi Chemicals
Private Limited for 24 Years |
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Date of Appointment : |
07.03.1988 |
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Election Commission ID No : |
MT07047505748 |
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DIN No : |
00474210 |
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Name : |
Mr. Klaus Karl
Georg Pampel |
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Designation : |
Director |
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Address : |
Wiesenstrasse 23,
40549 |
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Date of Birth/Age : |
19.10.1949 |
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Qualification : |
B.Sc. |
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Date of Appointment : |
14.02.2005 |
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DIN No : |
01762246 |
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Name : |
Mr. Gaurav Vinod
Kapur |
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Designation : |
Whole Time
Director |
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Address : |
18, |
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Date of Birth/Age : |
16.05.1979 |
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Date of Appointment : |
01.11.2008 |
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DIN No : |
00034397 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 13.08.2010
|
Names of Shareholders |
No. of Shares |
|
Huttenes Albertus Chemische Werke Gmbh, |
388000 |
|
Vinod Kapur |
154774 |
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Vicky Kapur |
154776 |
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Gargi Holdings Private Limited, |
750 |
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Vishwqamitra Kapur HUF – Karta Shri Vinod Kapur |
18178 |
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Vinod Kapur HUF |
88000 |
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Vicky Kapur HUF |
88000 |
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Gaurav V. Kapur Jointly with Vinod Kapur and Geeta V. Kapur |
38750 |
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Varun V. Kapur Jointly with Father Vicky Kapur and Namita V. Kapur |
38750 |
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Others |
22 |
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Total |
970000 |
AS ON 13.08.2010
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Equity Share
Breakup |
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Percentage of
Holding |
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Category |
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Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
40.00 |
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Directors or relatives of directors |
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60.00 |
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Total
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers of Foundry Chemicals and Fluxes. |
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Products : |
· Resins · Coatings · Exothermic Sleeves · Other Foundry Chemicals |
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Exports : |
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Products : |
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Countries : |
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Imports : |
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Products : |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash, Credit (30 days / 60 days / 90 days) |
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Purchasing : |
L/C, Cash, Credit (30 days / 60 days / 90 days) |
PRODUCTION STATUS
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Particulars |
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Installed
Capacity |
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Foundry Resins, Hardeners and Coatings |
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30000 TPA |
GENERAL INFORMATION
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Customers : |
End Users OEM’s |
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No. of Employees : |
100 (Approximately) |
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Bankers : |
·
Citi Bank N. A., Trent House, 2nd
floor, G Block, Plot No.C60, Bandra Kurla Complex, Bandra (E), Mumbai-400051,
Maharashtra, India ·
The Cosmos Co-Operative Bank Limited, Chembur Branch,
Richmonds Heights, Plot No.239, Centre Avenue Road, Chembur, Mumbai – 400
071, Maharashtra, India |
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Facilities : |
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Citi Bank Cash Credit Limit Rs.60.000 millions |
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Auditors : |
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Name : |
J.V. Sanghvi and Company Chartered Accountants |
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Address : |
Office No.1, Namrata – A, |
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Tel. No.: |
91-22-32449541 |
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Collaborators : |
Huttenes Albertus Chemische Werke Gmbh |
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Associates : |
Address : 205, Vasant Vihar Complex, Next to Basant Cinema, Dr. C. Gidwani Road, Chembur, Mumbai - 400 074, Maharashtra, India Tel. No. : 91-22-25563596 / 25563597 / 25562705 / 25580815 / 25564379 Fax No. : 91-22-25562706 / 25562080 E-Mail : gargi@bom2.vsnl.net.in / info@gargi-india.com Website : http://www.gargi-india.com Activity : Act as traders |
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Group Companies : |
Address : 2, Mercantile
Apartments, Next to Basant Cinema, Chembur, Mumbai - 400 074, Tel. No. 91-22-25563596 / 97 / 25201396 / 97 Fax No. 91-22-25562706 / 25572080 E Mail : gargi@bom2.vsnl.net.in Website : http://www.gargi-india.com
Address : 205, Vasant Vihar Complex, Chembur, Mumbai 400 074, Tel No.: 91-22-25201596 / 97 / 25513724 Email: gargi@gargi-india.com
Line of Business: Authorized Dealers and Service agent for Kirloskar
Pneumatic and Copeland AC and Refrigeration Compressors, Representative Sales
and Service Agents for Omega Foundry Machinery Limited,
Address: Plot No. 70/B, Phase I, GIDC,
Vatva Ahmedabad 382 445, Tel No.: 91-79-2589335 E-Mail: crystalfdry@gmail.com
Address: Plot No. 4904 and 5, Phase IV,
GIDC, Vatva Ahmedabad – 382 445, Tel No.: 91-79-25842289 / 25841790
Plot No. 32/33, Sector C, Sri Laxmi Co-op. Indl. Estate, Hatkanangali
416 109, |
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Subsidiaries : |
Gargi Huttenes Albertus Emirates LLC FZC Tel : +971 9 2228872 E-Mail : gargi@gargi-india.com |
CAPITAL STRUCTURE
As On : 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
1000000 |
Equity Shares |
Rs. 100/- each |
Rs. 100.000 millions |
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Note : Increase from Rs. 50.000 millions to Rs. 100.000
millions
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
970000 |
Equity Shares |
Rs. 100/- each |
Rs. 97.000
millions |
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Note : of the above share 760000 shares have been allotted
as Bonus shares.
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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1] Share Capital |
97.000 |
97.000 |
97.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
290.969 |
273.700 |
267.506 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
387.969 |
370.700 |
364.506 |
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LOAN FUNDS |
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1] Secured Loans |
64.505 |
75.459 |
118.325 |
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2] Unsecured Loans |
102.673 |
49.599 |
53.293 |
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TOTAL BORROWING |
167.178 |
125.058 |
171.618 |
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DEFERRED TAX LIABILITIES |
4.104 |
1.937 |
0.686 |
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TOTAL |
559.251 |
497.695 |
536.810 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
187.515 |
176.181 |
66.723 |
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Capital work-in-progress |
4.855 |
2.245 |
71.369 |
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INVESTMENT |
5.166 |
5.166 |
5.167 |
|
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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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|
|
|
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Inventories |
96.929
|
60.287
|
76.402
|
|
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Sundry Debtors |
491.856
|
386.098
|
471.827
|
|
|
Cash & Bank Balances |
10.351
|
30.273
|
26.263
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
33.892
|
19.659
|
27.947
|
|
Total
Current Assets |
633.028
|
496.317
|
602.439
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
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Sundry Creditors |
245.051
|
149.449 |
189.162 |
|
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Other Current Liabilities |
0.840
|
0.816
|
0.778
|
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Provisions |
25.422
|
31.949
|
18.948
|
|
Total
Current Liabilities |
271.313
|
182.214
|
208.888
|
|
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Net Current Assets |
361.715
|
314.103
|
393.551
|
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
559.251 |
497.695 |
536.810 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Income |
1681.656 |
1635.191 |
1725.244 |
|
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Other Income |
2.694 |
0.913 |
9.288 |
|
|
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TOTAL (A) |
1684.350
|
1636.104
|
1734.532 |
|
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Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials |
1392.737 |
1362.922 |
1400.231 |
|
|
|
Manufacturing Expenses |
47.900 |
40.567 |
41.290 |
|
|
|
Other Expenses |
106.244 |
106.967 |
102.168 |
|
|
|
TOTAL (B) |
1546.881
|
1510.456
|
1543.689
|
|
|
|
|
|
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
137.469 |
125.648 |
190.843 |
|
|
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|
|
|
|
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|
Less |
FINANCIAL
EXPENSES (D) |
16.018 |
24.690 |
20.407 |
|
|
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|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
121.451 |
100.958 |
170.436 |
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|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
15.602 |
13.841 |
8.083 |
|
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|
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|
PROFIT BEFORE
TAX (E-F) (G) |
105.849 |
87.117 |
162.353 |
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Less |
TAX (H) |
36.603 |
31.048 |
56.887 |
|
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|
PROFIT AFTER TAX
(G-H) (I) |
69.246 |
56.069 |
105.466 |
|
|
|
|
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|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
69.999 |
73.506 |
27.935 |
|
|
|
|
|
|
|
|
|
Less/ Add |
Prior
Year Adjustments |
0.148 |
0.059 |
(0.046) |
|
|
|
|
|
|
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|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
29.100 |
9.700 |
48.500 |
|
|
|
Dividend |
44.620 |
42.680 |
1.649 |
|
|
|
Tax on Dividend |
7.504 |
7.253 |
9.700 |
|
|
BALANCE CARRIED
TO THE B/S |
58.169 |
70.001 |
73.506 |
|
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|
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|
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EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
84.797 |
105.666 |
87.522 |
|
|
|
Dividend |
1.425 |
0.000 |
2.219 |
|
|
TOTAL EARNINGS |
86.222 |
105.666 |
89.741 |
|
|
|
|
|
|
|
|
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|
IMPORT |
|
|
|
|
|
|
|
Raw Materials |
229.750 |
264.289 |
325.423 |
|
|
TOTAL IMPORTS |
229.750 |
264.289 |
325.423 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
71.54 |
57.80 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
4.11
|
3.43 |
6.08
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.29
|
5.33 |
9.41
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.90
|
12.95 |
24.26
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.27
|
0.24 |
0.45
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.14
|
0.83 |
1.04
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.33
|
1.00 |
2.88
|
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS
(Rs.
In Millions)
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
SUNDRY CREDITORS |
|
|
|
|
For Goods |
211.332 |
128.388 |
150.993 |
|
For Expenses |
27.171 |
17.727 |
36.040 |
|
For Others |
6.548 |
3.334 |
2.129 |
|
Total |
245.051 |
149.449 |
189.162 |
PERFORMANCE
The sales volume registered growth of about 19%
however, due to fall in prices the growth in sales value shows only 3%. Due to
recessionary conditions in Gulf area Exports were reduced by about 20%. The
sales depot at
The production at Khopoli Unit contributed to
growth in production and sales.
Due to concerted effort the Company could
maintain gross margin resulting in improved net profit.
INVESTMENT IN SUBSIDIARY
The subsidiary of the Company M/s. Gargi
Huttenes Albertus (Emirated) Limited, FZC, shows a fall in turnover and profit
as well due to economic slowdown. The company expects to receive Final Dividend
of AED 99870.55 (Rs.1.253 millions) for the year ended 31st December
2009 from the aforesaid joint venture company.
FORM 8
|
Corporate
identity number of the company |
U74999MH1988PTC046413 |
|
Name of the
company |
GARGI HUTTENES ALBERTUS
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
203, Vasant Vihar Complex, Next to Basant Cinema, Dr. C
Gidwani Road, Chembur, Mumbai - 400 074, Maharashtra, India |
|
This form is for |
Creation of
charge |
|
Type of charge |
·
Movable
property (not being pledge) |
|
Particular of
charge holder |
The Cosmos Cooperative Bank Limited Plot No. 239, Richmand Heights, Central Avenue Road, Ground Floor,
Chembur, Mumbai – 400 071, Maharashtra, India
|
|
Nature of
instrument creating charge |
Deed of
Hypothecation of stock, book debts and machinery. |
|
Date of instrument
Creating the charge |
13.12.2010 |
|
Amount secured by
the charge |
Rs.21.300
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
·
Rate
of interest 11.5% p.a. or at such rate as maybe determined by the bank from time
to time. ·
Terms
of repayment Months +9 months moratorium ·
Margin 25% in Bank’s favour. ·
Extent
and operation of the charge This is term loan facility |
|
Short Particulars
of the property or assets |
Hypothecation of
all the borrowers moveable machinery, plant and equipment with their
accessories and spare parts now belonging to and that may thereafter belong
to the borrower and which are now installed or being installed or to be
installed hereafter and bought in, stored or be in at or about the premises,
warehouses or god owns of the borrower at Khopoli or where else the same may
be and more. |
FIXED ASSETS
- Leasehold Rights to
- Land
- Office Premises
- Staff Quarters
- Building
- Trade Mark
- Plant and Machinery
- Electrical Installation
- Furniture and Fixtures
- Motor Cars
- Delivery Vans
- Office Equipments
- Office Equipments
- Computers
WEB DETAILS
PROFILE
Subject is a joint venture of Gargi and Hüttenes-Albertus
Chemische Werke GmbH,
Since 1987 this unique joint venture is serving the
Indian Foundry Industry with world class products and providing latest
technology with tailor made resins and coatings for foundry industry.
The State-Of-The-Art manufacturing plants are located
at New Mumbai and Khopoli in Western India and
The Gargi In-House R and D Centre (recognized by the
Dept. of Science and Technology, Government of India) manned by highly skilled
team, successfully tailor make Resins and Coatings to meet the quality
requirements of each customer.
They guarantee high levels of Quality with their
products from start to finish. They not only deliver in terms of product
quality but also guarantee supply capability and speedy delivery.
The technology is backed by M/s. Hüttenes-Albertus
Chemische Werke. They are the Indian arm of this Global Group of Companies who
openly share their specific expertise making it readily available to other
markets.
NEWS
Subject was honored Special Award under the Category : Medium-Chemicals
Sector for the overall productivity performance. This award is set up by
National Productivity Council, Mumbai (under Department of Industrial Policy
and Promotion, Government of India) in co-operation with Department of
Industries, Government of Maharashtra.
The award was presented to Mr. Vicky Kapur,
Jt. Mg. Director and Mr. Gaurav Kapur, Director of subject. by Mr. A.M. Khan,
Principal Secretary for Industries, Government of Maharashtra . This function
was held at Sahyadri Guest House , Mumbai on Thursday, the 20th August’09.
Subject has won "Second Award"
under 'Basic Inorganic and Organic Chemicals incl. Agro Chemical Panel' - SSM
for the outstanding Export Performance for the year 2005-06. This award was set
up by CHEMEXCIL (Ministry of Commerce and Industry, Government of India).
The award was presented to Mr. Vinod Kapur,
Chairman and Managing Director of subject by Hon'ble Minister of State for
Commerce and Industry, Government of India, Shri Jyotiraditya Scindia on
occasion of presentation of 35th and 36th Export Awards. This function was held
at Hotel ITC Grand Maratha, Sahar, Mumbai on Thursday, the 23rd July’09.
PAST EVENTS
·
German delegation visit to Gargi HA plant in
·
55th Indian Foundry
Congress,
·
The first International
Foundry Congress in
·
A visit to Gargi HA
Emirates
·
GIFA 2007-The Foundry
Family
·
HA Member – WFO Council
·
Mega Event – 68 th World
Foundry Congress, Chennai
·
Outstanding Export
Performance Award
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 |
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 |
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.