MIRA
INFORM REPORT
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Report Date : |
16.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
VHCL INDUSTRIES LIMITED [w.e.f. 11.08.2008] |
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Formerly Known
As : |
VECEE CEMENTOLITES AND INDUSTRIES LIMITED |
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Registered
Office : |
B/4, Unique House, Cardinal Gracious Road, Chakala, Andheri (East),
Mumbai – 400099, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
30.11.1978 |
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Com. Reg. No.: |
11-194917 |
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Capital
Investment / Paid-up Capital : |
Rs.40.203 Millions |
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CIN No.: [Company Identification
No.] |
L26954MH1978PLC194917 |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
Stock Exchange |
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Line of Business
: |
The Company is engaged in recycling of plastic wastes. |
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No. of Employees
: |
65 [In Office + in Factory] Approximately |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 9560000 |
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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 moderate track. Trade relations
are reported as fair. Business is active. Payments are reported to be to
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.
INFORMATION DECLINED BY
|
Name : |
Mr. Vimal Agarwal |
|
Designation : |
Accounts Manager |
|
Date : |
14.07.2011 |
LOCATIONS
|
Registered Office : |
B/4, Unique House, Cardinal Gracious Road, Chakala, Andheri (East),
Mumbai – 400099, |
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Tel. No.: |
91-22-28365977 |
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E-Mail : |
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Factory : |
S No.285, Gala No. II, |
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Power Plant : |
Village
Belwa Ranaji, Taluka Shergarh, Dist. |
DIRECTORS
As on 25.09.2010
|
Name : |
Mr. Pankaj H Valia |
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Designation : |
Managing Director |
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Address : |
55, Vrindavan, Nutan Laxmi Society, 9th Road, JVPD Scheme, Vile
Parle (West), Mumbai – 400056, Maharashtra, India |
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Date of Birth/Age : |
15.01.1955 |
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Date of Appointment : |
09.02.2008 |
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DIN : |
02047350 |
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Name : |
Mr. Raj Ramnarain Ratnakar |
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Designation : |
Director |
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Address : |
D-504, Shri Krishna Darshan Khargaon, Kalwa (West), Thane, |
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Date of Birth/Age : |
23.05.1971 |
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Date of Appointment : |
17.02.2004 |
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DIN : |
00094614 |
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Name : |
Mr. Rohidas Natha Shinde |
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Designation : |
Director |
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Address : |
Building No.47, Room No.1691, Tilak Nagar, Chembur, Mumbai – 400089, |
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Date of Birth/Age : |
10.04.1963 |
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Date of Appointment : |
17.02.2004 |
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DIN : |
00094719 |
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Name : |
Mr. Prakash J Mehta |
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Designation : |
Director |
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Address : |
House No. G – 10/102, Plot No.145, Chetan Villa, 3rd Floor,
Garodia Nagar, Ghatkoper (East), Mumbai – 400077, Maharashtra, India |
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Date of Birth/Age : |
07.12.1955 |
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Date of Appointment : |
17.02.2004 |
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DIN : |
02379406 |
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Name : |
Mr. Pankaj J Mehta |
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Designation : |
Director |
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Address : |
C-405, |
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Date of Birth/Age : |
04.02.1962 |
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Date of Appointment : |
06.03.2008 |
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DIN : |
00821644 |
KEY EXECUTIVES
|
Name : |
Mr. Vimal Agarwal |
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Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 25.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Pankaj Harilal
Valia |
|
10979740 |
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Pankaj Harilal
Valia |
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4020260 |
|
Panorama Capital
Market Ltd. |
|
1586884 |
|
V. B. Raol |
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381600 |
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Nitin Kumar
Sanghavi |
|
379700 |
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Harshadrai
Popatlal Bosmia |
|
371616 |
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Rohan H. Mehta |
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301000 |
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Jaidev Bhatt |
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208500 |
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Pankaj J. Mehta |
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172900 |
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Rakesh K. Shah |
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142500 |
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Jai Kishan Dass |
|
92100 |
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Satish Kumar |
|
60000 |
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Jai Kishan Dass
(Huf) |
|
57400 |
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Suresh Kumar |
|
50300 |
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Lokesh K. Shah |
|
43800 |
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Pawan Kumar |
|
37800 |
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Chandra Devi |
|
35000 |
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Tejal N. Bhatt |
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34000 |
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Anu Makhijani |
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33000 |
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Latika Makhijani |
|
32000 |
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Ankita Makhijani |
|
28500 |
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Girish Kumar |
|
28300 |
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|
28000 |
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|
27000 |
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|
26700 |
As on 25.09.2010
|
Category |
Percentage |
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Bodies corporate |
7.91 |
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Directors or relatives of Directors |
74.62 |
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Other top fifty shareholders |
14.28 |
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Others |
3.19 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
The Company is engaged in recycling of plastic wastes. |
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Terms : |
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Selling : |
L/C / Cash / Credit |
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Purchasing : |
L/C / Cash / Credit |
PRODUCTION STATUS AS ON As on 31.03.2010
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Particulars |
Unit |
Installed
Capacity |
Actual
Production |
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Reprocessed Plastic Granules |
Qty (MT) |
23388 |
12328.727 |
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GENERAL INFORMATION
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Customers : |
Wholesalers |
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No. of Employees : |
65 [In Office + in Factory] Approximately |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Sarda Soni and Associates Chartered Accountant |
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Address : |
13/16, Kapadia Chambers, 599, |
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Tel. No.: |
91-22-22075288 / 22914166 |
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Mobile No.: |
91-9819165816 |
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Fax No.: |
91-22-22075288 |
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Related Party |
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CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50,000,000 |
Equity Shares |
Rs.2/- each |
Rs.100.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
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|
20,101,300 |
Equity Shares |
Rs.2/- each |
Rs.40.203
Millions |
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Note: ** 5101300 Equity Shares of Rs.2/- each after reduction 15,000,000 Equity shares of Rs.2/- each issued to new promoters on preferential basis by converting trade creditors to the extent of Rs.30.000 millions standing in the name of Associated Plastics Industries
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
40.203 |
40.203 |
40.203 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
55.471 |
24.870 |
0.004 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
95.674 |
65.073 |
40.207 |
|
|
LOAN FUNDS |
|
|
|
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|
1] Secured Loans |
182.743 |
0.000 |
0.000 |
|
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2] Unsecured Loans |
13.429 |
0.000 |
0.000 |
|
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TOTAL BORROWING |
196.172 |
0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
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TOTAL |
291.846 |
65.073 |
40.207 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
121.918 |
18.018 |
18.111 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.063 |
0.040 |
0.040 |
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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 |
139.723
|
72.017
|
35.338 |
|
|
Sundry Debtors |
377.867
|
69.711
|
79.804 |
|
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Cash & Bank Balances |
29.349
|
4.633
|
2.394 |
|
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Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
24.038
|
2.505
|
2.153 |
|
Total
Current Assets |
570.977
|
148.866
|
119.689 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
318.925
|
66.927
|
59.247 |
|
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Other Current Liabilities |
0.000
|
0.000 |
0.000 |
|
|
Provisions |
82.187
|
34.925
|
38.386 |
|
Total
Current Liabilities |
401.112
|
101.852
|
97.633 |
|
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Net Current Assets |
169.865
|
47.014
|
22.056 |
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|
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
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|
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|
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TOTAL |
291.846 |
65.072 |
40.207 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
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Income |
887.126 |
251.233 |
145.782 |
|
|
|
Other Income |
0.556 |
0.058 |
0.028 |
|
|
|
TOTAL (A) |
887.682 |
251.291 |
145.810 |
|
|
|
|
|
|
|
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Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption of Raw Material |
829.604 |
234.866 |
125.773 |
|
|
|
Consumption of Stores and Spares |
7.711 |
1.005 |
0.701 |
|
|
|
Power and Fuel |
7.873 |
6.621 |
3.913 |
|
|
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Payments to Employees |
2.385 |
1.617 |
1.655 |
|
|
|
Other Expenses |
11.656 |
3.523 |
3.199 |
|
|
|
Selling Expenses |
0.000 |
0.000 |
0.093 |
|
|
|
Increased / (Decreased) in stock
|
[29.457] |
(15.266) |
(2.335) |
|
|
|
TOTAL (B) |
829.772 |
232.366 |
132.999 |
|
|
|
|
|
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
57.910 |
18.925 |
12.811 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
8.088 |
0.999 |
0.001 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
49.822 |
17.926 |
12.810 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
6.492 |
2.750 |
2.558 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
43.330 |
15.176 |
10.252 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
8.027 |
0.617 |
0.044 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
35.303 |
14.559 |
10.208 |
|
|
|
|
|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
0.000 |
0.000 |
[59.130] |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
Proposed Dividend |
4.020 |
4.020 |
0.000 |
|
|
|
Tax on Proposed Dividend |
0.683 |
0.621 |
0.000 |
|
|
|
|
|
|
|
|
|
Add |
Excess
provision made in earlier years no longer required written back |
|
|
|
|
|
|
Provision for income tax of earlier year written
back |
0.001 |
0.000 |
0.000 |
|
|
|
Provision for custom penalty |
0.000 |
0.930 |
0.000 |
|
|
|
Provision for duty Penalty [EPCG] |
0.000 |
14.018 |
0.000 |
|
|
Less |
Transfer to General Reserve |
0.000 |
0.000 |
48.922 |
|
|
|
BALANCE CARRIED TO
THE B/S |
30.601 |
24.866 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.76 |
0.072 |
0.051 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
3.98
|
5.79
|
7.00 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.88
|
6.04
|
7.03 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.25
|
9.09
|
7.44 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.45
|
0.23
|
0.25 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
6.24
|
1.56
|
2.43 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.42
|
1.46
|
1.22 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
Rs.
In Millions 31.03.2010 |
Rs.
In Millions 31.03.2009 |
Rs.
In Millions 31.03.2008 |
|
Sundry Creditors
|
|
|
|
|
For Goods, Service, Expenses |
318.578 |
66.475 |
58.424 |
|
Liability for Expenses |
0.347 |
0.452 |
0.823 |
|
Total |
318.925 |
66.927 |
59.247 |
Note:
The registered office address of the company has been shifted from 5 Dr.
Rajendra Prasad Sarani 9th Floor, Kolkata – 700001, West Bengal,
India to P-16,
The registered office address of the company has been shifted from to
P-16,
OPERATIONS:
During the
year, the Company achieved a Turnover of Rs. 887.126 Millions as against
Turnover of Rs.251.233 Millions in the previous year reflecting an increase of
253.11 %. Other Income earned during the year stood at Rs.0.556 millions as
against Rs.0.058 millions in the previous year. The profit after Depreciation
and Tax was Rs.35.304 millions as against profit of Rs.29.508 (which includes
Provisions made in earlier years towards Custom Duty Penalty aggregating to Rs.
14.948 Millions written back) in the year ended 31s< March, 2009.
During the
year, the Company entered into Power generation business and set up 2100 KW
Wind Turbine Generator (WTG) at Village Belwa Ranaji, Taluka Shergarh, Dist.
Jodhpur, Rajasthan at a capital cost of Rs.109.000 millions (including cost of
land Rs 2.000 Millions). The power plant was commissioned on 27th
March, 2010.
MANAGEMENT DISCUSSION AND ANALYSIS
INDUSTRY OUTLOOK
The Company
is engaged in recycling of plastic wastes. The industry is fragmented and there
are large number of small units scattered at various places in the country.
Moreover, the range of recycled produce varies as per the requirements of the
customers. There is a vast untapped, demand in rural areas. The potential to
grow depends on procurement of plastic wastes and producing recycled products
as per market demand. Most varieties of plastics are recyclable. As per general
estimate, reprocessed material used by plastic reprocessing industry accounts
for about 40% to 50% of the virgin material processed. It takes 91 % less
energy to recycle a kilo of plastic than it takes to recycle a kilo of paper.
Recycling of plastic bags generate 80% less waste as compared to paper bags.
Many other advantages of recycling highlights its importance and the need to
develop and support Plastics Recycling Program nationally as a modern solid
waste management practice.
COMMISIONING OF WIND POWER PROJECT
During the year,
the Company entered into Power generation business and set up 2100KW Wind
Turbine Generator (WTG) at Village Belwa Ranaji, Dist. Jodhpur, Rajasthan at a
capital cost of Rs. 109.000 Millions (including cost of land Rs 2.000
millions). The power plant was commissioned on 27th March, 2010.
POWER SECTOR:
There is a
huge gap between demand and supply of power in
FINANCIAL PERFORMANCE
The Turnover
of the Company has increased substantially from Rs.251.233 millions to Rs.
887.126 millions resisting an increase of 253.1 1%. During the year the Company
also set up a Wind Power Plant of 2100KW and Commercial production commenced
from 27th March, 2010.
Other Income
earned during the year stood at Rs.0.556 millions as against Rs.0.058 millions
in the previous year. The profit after Depreciation and Tax was Rs.35.304
millions as against profit of Rs.29.508 (Which includes Provisions made in
earlier years towards Custom Duty Penalty aggregating to Rs. 14.948 millions
written back) in the year ended 31st March, 2009.. Thus the
performance of the Company was satisfactory during the year and the
shareholders will be glad to know that there has been turnaround of the
Company. The profitability of the Company will further improve with the optimum
utilization of the additional machineries installed during the year.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
L26954MH1978PLC194917 |
|
Name of the
company |
VHCL INDUSTRIES
LIMITED |
|
Address of the
registered office or of the principal place of business in |
B/4, Unique
House, Cardinal Gracious Road, Chakala, Andheri (East), Mumbai – 400099, |
|
This form is for |
Creation of
charge |
|
Type of charge |
|
|
Particular of
charge holder |
State Bank Of India, Sir P M Road Branch, Gresham House, Ground Floor,
Sir P M Road , Fort, Mumbai - 400001, Maharashtra, India |
|
Nature of
instrument creating charge |
A) Agreement Of
Hypothecation Of Goods And Assets. Form C.2 B) Letter
Regarding The Grant Of Individual Limits Within The Overall Limit. Formc.5 Both The Above
Documents Constitute A Single Charge. |
|
Date of
instrument Creating the charge |
31.03.2010 |
|
Amount secured by
the charge |
Rs.556.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest
- FOR WC - 1.00 % above SBAR i. e 13.75 % pa with monthly rests. FOR TL - 0.25 %
above SBAR i.e 14.50 % p.a monthly rests, with reset after every two years. Enhanced interest
at 1 % for delayed payment. Terms of
Repayment – Tenor of Term loan
is for 84 months with 12 months moratorium repayment to commence from April
2011 in 72 monthly installments as under: 71 monthly
installments of Rs 1.050 millions each –Rs.74.550 Millions; Last installment
of Rs.1.450 Millions - Rs.1.450 Millions; Total - Rs. 76.000 millions Margin – Raw Material -
25 % Book Debts/Receivable (cover 90 days)- 40% Letter of
Credit - 10 % Extent and
Operation of the charge Cash Credit Rs. 100.000 Millions Term Loan Rs. 76.000 Millions Letter Of
Credit Rs. 380.000 Millions |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
A first charge by
way of hypothecation of the borrowers entire goods, movables and other assets
present and future including documents of title to goods and other assets,
such as book-debts outstanding, moneys, receivables, including receivables by
way of cash assistance and/or cash incentives under the cash incentive scheme
or any other scheme, claims, including claims by way of refund of custom,
excise duties under the duty drawback credit scheme, or any other scheme. Etc
claims including claims by way of refund of customs/excise duties under the
duty draw back credit scheme or any other excise duties under the duty
drawback credit scheme, or any other scheme. Etc claims including claims by
way of refund of customs/excise duties under the duty draw back credit scheme
or any other the bank. Personal guarantee of mr. Pankaj harilal valia and Mr.
Bharat harilal valia |
FORM 8:
|
Corporate
identity number of the company |
L26954MH1978PLC194917 |
|
Name of the
company |
VHCL INDUSTRIES
LIMITED |
|
Address of the registered
office or of the principal place of
business in |
B/4, Unique
House, Cardinal Gracious Road, Chakala, Andheri (East), Mumbai – 400099, |
|
This form is for |
Creation of
charge |
|
Type of charge |
Book Debts Movable Property |
|
Particular of
charge holder |
BANK OF |
|
Nature of
instrument creating charge |
Hypothecation cum
Loan agreement |
|
Date of
instrument Creating the charge |
01/10/2009 |
|
Amount secured by
the charge |
Rs.350.000 Millions
|
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest @0.50%
p.a. above BPLR Presently @12.50% p.a. shall be charged at Monthly rests. Terms of
Repayment Cash Credit-On
Demand Letter of Credit-
As per extent guidelines. Margin 25% on Stocks and
40% on Book Debts. Extent and
Operation of the charge Exclusive charge
by way of Hypothecation of Movable assets. Others Limits
covered Amount Cash Credit
(Stocks & BD) Rs.100.000 Millions Letter of
Credit(I/F) Rs.250.000
Millions DP/DA 90 days Total Rs.350.000
Millions |
|
Short particulars
of the property charged |
Hypothecation of
all Stocks, Book Debts and Plant and Machineries as per list attached with
agreement (both Present & Future) |
FIXED ASSETS:
- Plant and
Machinery
- Wind Mill
- Furniture and
Fixtures
- Electrical
Fittings
- Office
Equipments
- Underground
Tank
- Motor Car
- Weighing
Scale
- Computer
- Transformers
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.44.52 |
|
|
1 |
Rs.71.90 |
|
Euro |
1 |
Rs.62.97 |
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 |
4 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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.