MIRA
INFORM REPORT
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Report Date : |
22.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
ASIATIC
COLOUR-CHEM INDUSTRIES LIMITED |
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Registered
Office : |
Plot
No.1503/1504, Phase I, G.I.D.C. Estate, Naroda, Ahmedabad – 382 330, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
09.01.1995 |
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Com. Reg. No.: |
04-024128 |
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Capital
Investment / Paid-up Capital : |
Rs.65.721
millions |
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CIN No.: [Company Identification
No.] |
U24117GJ1995PLC024128 |
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Legal Form : |
A Closely Held
Public Limited Liability Company |
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Line of Business
: |
Manufacturing of
Dyes and Dye Intermediates. |
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No. of Employees
: |
50
(Approximately) |
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 860000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company with satisfactory track. Directors
are reported to be experienced and respectable businessmen. Trade relations
are reported as fair. Business is active. Payments are usually correct and as
per commitments. The company can be considered good for normal business dealings under
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 |
LOCATIONS
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Registered Office/ Factory : |
Plot
No.1503/1504, Phase I, G.I.D.C. Estate, Naroda, Ahmedabad – 382 330, |
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Tel. No.: |
Switch Board: 91-79-40015900 to 54 (100 Lines) Finance : 91-79-40015929 Information : 91-79-40015941 Marketing : 91-79-40015927 Purchase : 91-79-40015923 Logistics : 91-79-40015942 Direct No.: 91-79-66305931 |
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Fax No.: |
91-79-22820766/ 66305950/ 40015950/ 22822212 |
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E-Mail : |
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Website : |
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Shanghai Rep. Office Rm 1013, Novel Building, 887, Huai Hai Rd. (M), Shanghai – 200020,
P.R. China |
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Tel. No.: |
0086-21-64673821 / 64669438 |
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Fax No.: |
0086-21-64715502 |
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E-Mail : |
DIRECTORS
As on 11.09.2010
|
Name : |
Mr. Kashiram Handuram Agrawal |
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Designation : |
Managing Director |
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Address : |
9, Subash Nagar,
Girdharnagar, Shahibaug, Ahmedabad – 380 004, |
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Date of Birth/Age : |
28.08.1939 |
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Qualification : |
S.S.C. |
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Date of Appointment : |
09.01.1995 |
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DIN No.: |
00050399 |
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Name : |
Mr. Mahesh Kashiram Agrawal |
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Designation : |
Managing Director |
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Address : |
A-101, |
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Date of Birth/Age : |
08.12.1962 |
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Qualification : |
B. Com. |
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Date of Appointment : |
09.01.1995 |
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DIN No.: |
00039326 |
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Name : |
Ms. Ashiwini Huzursaran Saini |
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Designation : |
Director |
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Address : |
B-29, Devdarshan
Bungloes, New |
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Date of Birth/Age : |
05.07.1966 |
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Date of Appointment : |
05.08.2004 |
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DIN No.: |
00091878 |
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Name : |
Mr. Vibhor Maheshbhai Agrawal |
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Designation : |
Additional Director |
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Address : |
A-101, |
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Date of Birth/Age : |
13.06.1986 |
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Date of Appointment : |
15.04.2001 |
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DIN No.: |
01326848 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 11.09.2010
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Names of Shareholders |
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No. of Shares |
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Kashiram H. Agrawal |
|
99470 |
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Mahesh K. Agrawal |
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5267850 |
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Savitri Devi Agarwal |
|
7105 |
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Taru Agrawal |
|
572460 |
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Kashiram Agrawal HUF |
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2030 |
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Ujjawala Agrawal |
|
7105 |
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Vibhor Agrawal |
|
7105 |
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Mahesh Agarwal HUF |
|
609000 |
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Total |
|
6572125 |
As on 11.09.2010
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Equity Share Breakup |
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Percentage of Holding |
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Category |
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Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing of
Dyes and Dye Intermediates. |
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Products : |
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PRODUCTION STATUS (AS ON 31.03.2010)
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Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
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SO Dyes and Intermediates |
MT |
7500 |
6000 |
5908 |
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GENERAL INFORMATION
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No. of Employees : |
50
(Approximately) |
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Bankers : |
v
State Bank of v
ICICI Bank Limited, v
HDFC Bank Limited |
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Facilities : |
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Banking
Relations : |
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Auditors : |
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Name : |
Nirav Patel and Company Chartered Accountants |
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Address : |
C/32/2, Keshvpark Society, Opposite Chief Justice Bunglow, Bodakdev,
Ahmedabad – 380 015, |
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Income-tax
PAN of auditor or auditor's firm : |
ANZPP5962F |
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Related Parties : |
v
Orio Shanghai Colours Private Limited v
Adorn Specility Polymers (Private) Limited v
Asiatic Hong Kong International Limited |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
12000000 |
Equity Shares |
Rs.10/- each |
Rs.120.000 millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
6572125 |
Equity Shares |
Rs.10/- each |
Rs.65.721
millions |
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|
(Out of which 6479625 equity shares of Rs.10/- Issued as a 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 |
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|
SHAREHOLDERS FUNDS |
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|
|
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1] Share Capital |
65.721 |
65.721 |
65.721 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
149.336 |
142.702 |
180.200 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
215.057 |
208.423 |
245.921 |
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LOAN FUNDS |
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1] Secured Loans |
383.920 |
394.903 |
292.478 |
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2] Unsecured Loans |
24.988 |
0.000 |
0.000 |
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TOTAL BORROWING |
408.908 |
394.903 |
292.478 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.457 |
12.096 |
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TOTAL |
623.965 |
603.783 |
550.495 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
82.066 |
81.761 |
84.066 |
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Capital work-in-progress |
0.000 |
1.699 |
0.959 |
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INVESTMENT |
0.103 |
0.103 |
0.103 |
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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 |
125.890
|
118.501
|
159.785
|
|
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Sundry Debtors |
525.425
|
475.615
|
435.578
|
|
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Cash & Bank Balances |
47.274
|
33.092
|
24.545
|
|
|
Other Current Assets |
70.812
|
49.011
|
0.000
|
|
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Loans & Advances |
74.010
|
63.285
|
97.268
|
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Total
Current Assets |
843.411
|
739.504 |
717.176 |
|
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Less : CURRENT
LIABILITIES & PROVISIONS |
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|
|
|
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Sundry Creditors |
280.567
|
213.595
|
231.035
|
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Other Current Liabilities |
18.532
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|
21.823
|
|
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Provisions |
2.726
|
1.200
|
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Total
Current Liabilities |
301.825
|
219.704 |
252.858 |
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Net Current Assets |
541.586
|
519.800
|
464.318
|
|
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MISCELLANEOUS EXPENSES |
0.210 |
0.420 |
1.049 |
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TOTAL |
623.965 |
603.783 |
550.495 |
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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 from Operation |
936.390 |
923.024 |
1039.358 |
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Other Income |
5.352 |
6.553 |
0.053 |
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Insurance Claim Received |
0.457 |
0.000 |
0.000 |
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TOTAL (A) |
942.199 |
929.577 |
1039.411 |
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Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods
Traded |
23.043 |
3.031 |
8.408 |
|
|
|
Raw Material
Consumed |
629.682 |
672.876 |
805.296 |
|
|
|
Manufacturing
Expenses |
96.624 |
97.895 |
106.068 |
|
|
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Administrative
Expenses |
9.508 |
11.232 |
8.521 |
|
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Directors
Remuneration |
1.916 |
1.707 |
1.707 |
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|
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Payment to
Employees |
13.080 |
10.497 |
8.863 |
|
|
|
Selling &
Distribution Expenses |
29.237 |
54.442 |
53.427 |
|
|
|
Increase & Decrease in Finished Goods |
6.378 |
14.626 |
(25.811) |
|
|
|
Preliminary
Expenses Written Off |
0.210 |
0.210 |
0.000 |
|
|
|
Exchange Rate
Difference |
(0.187) |
(1.779) |
0.000 |
|
|
|
Prior Period
Items |
0.229 |
0.952 |
0.000 |
|
|
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TOTAL (B) |
809.720 |
865.689 |
966.479 |
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|
|
|
|
|
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
132.479 |
63.888 |
72.932 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
116.132 |
94.880 |
27.839 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
16.347 |
(30.992) |
45.093 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
5.863 |
5.562 |
5.024 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX
(E-F) (G) |
10.484 |
(36.554) |
40.069 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.480 |
(11.280) |
16.946 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
10.004 |
(25.274) |
23.123 |
|
|
|
|
|
|
|
|
|
|
Adjustment for Earlier Tax |
0.000 |
(12.299) |
0.000 |
|
|
|
Excess Provision of FBT of earlier years |
0.000 |
0.075 |
0.000 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
127.029 |
164.527 |
150.593 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
0.000 |
1.500 |
|
|
|
Proposed Dividend |
0.000 |
0.000 |
6.572 |
|
|
|
Corporate Dividend Tax |
0.000 |
0.000 |
1.117 |
|
|
BALANCE CARRIED
TO THE B/S |
137.033 |
127.029 |
164.527 |
|
|
|
|
|
|
|
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EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of Goods/ Services (F.O.B.) basis |
778.741 |
726.912 |
650.618 |
|
|
TOTAL EARNINGS |
778.741 |
726.912 |
650.618 |
|
|
|
|
|
|
|
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|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
127.546 |
171.340 |
NA |
|
|
TOTAL IMPORTS |
127.546 |
171.340 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.52 |
(5.71) |
3.52 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
1.06
|
(2.72)
|
2.22 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.12
|
(3.96)
|
3.86 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.13
|
(4.45)
|
5.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05
|
(0.18)
|
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.30
|
2.95
|
2.22 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.79
|
3.37
|
2.84 |
LOCAL AGENCY FURTHER INFORMATION
NEW DEVELOPMENTS
Subsidiary at
Their company is looking
at great scope in dyes and dyes intermediate industry. The company has planned
trading activities all over world. To cover world's market their 100%
subsidiary in the name of Asiatic Hong Kong International Limited at
ISO-14001
Environment
Policy: The Company has obtained IS0 14001:2004 status from Quality registrar
lntertek Systems Certification on vide Certificate number 07E0115 effective
from 24th December, 2007 for 3 years.
Quality Policy :
The Company has obtained IS0 9001:2008 status from Quality registrar Bureau
Veritas Certification (
SOCIAL
RESPONSIBILITIES
Social Welfare
In spite of High cost
of CNG compare to other sources of energy i.e. Coal, Lignite and Furnace oil
company has decided to switch over from traditional sources of Energy to
Natural Gas. For which company has entered into an agreement with Leading CNG
Supplier of Natural Gas i.e. Adani Energy Limited. Company is always ahead in
taking initiation for saving environment. By this measure company has been able
reduced carbon contents from Environment.
Company has also
developed
New Dimensions
They have taken part
in All China Leather Exhibition at China International Footwear Fair at
New Plans
They have future
plan to set up a new factory for production of Ink Dyes and Fur Dyes.
They are also
planning to set up a new Laboratory as per their foreign customers requirement
by installing new modern laboratory instrument by the end of March'2011.
FORM 8:
|
Corporate
identity number of the company |
U24117GJ1995PLC024128 |
|
Name of the
company |
ASIATIC
COLOUR-CHEM INDUSTRIES LIMITED |
|
Address of the
registered office or of the principal place of business in |
Plot No.1503,
Phase I, G.I.D.C. Estate, Naroda, Ahmedabad – 382 330, E-Mail: 10070340 |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10070340 |
|
Type of charge |
Immovable
Property Others (Extension
of EM over immovable properties) |
|
Particular of
charge holder |
State Bank of E-Mail: mclau.zoahm@sbi.co.in |
|
Nature of
description of the instrument creating or modifying the charge |
(a) Memorandum
relating to deposit of title deeds for creation of further charge for term loan
overall limit where the initial charge is created by way of mortgage by
deposit of title deeds,(FORM C.10A)dated 11.07.2009. |
|
Date of
instrument Creating the charge |
11.07.2009 |
|
Amount secured by
the charge |
Rs.600.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: (a) Cash credit:
2.50% above SBAR, (b) Working capital term loan: 2.50% above SBAR, (c)
FBD/EBR, EPC/PCFC, LC/BG: As per RBI guidelines. Terms of
Repayment: (a) Cash credit:
Repayable on demand (b) Working capital term loan: Rs.60.000 millions shall
be repayable in 24 monthly installments of Rs.2.500 millions each, starting
from April, 2010 and ending on March, 2012. Margin: Raw
materials - 25%, Stock in
process - 40% Finished
goods - 40% Book-debts/receivables - 50% Export packing
credit - 10% of FOB Letter of
credit/Bank Guarantee - 20% Extent and
Operation of the charge: The existing
credit facilities enhanced from Rs.544.000 millions to Rs.600.000 millions
secured by way extension of EM over immovable properties of company viz. (a)
Plot no. 1504, GIDC, Naroda Industrial Estate, (b) Plot no.1503, GIDC Naroda
Industrial estate, (c) Plot no.9, Survey no.86 and Final Plot no.89 of TPS
no. 8, Dariapur Kazipur, being flat no.3 and 4 Subhashnagar, Shahibaug,
Ahmedabad. (d) Survey no.259 and 260 and Final Plot no.301, TPS no.14
Dariapur Kazipur, being Flat no. A/101, Shilalekh, Shahibaug, Ahmedabad. Others: Individual limits
within overall limits (a) FBD/EBR - Rs.340.000
millions (b) EPC/PCFC - Rs.(110.000)
millions (c) Cash
credit - Rs.(40.000) millions (d) Working
capital term loan - Rs. 60.000 millions (e) LC -
Rs.200.000 millions (f) BG -
Rs.(5.000) millions making total
aggregate limits - Rs.600.000 millions |
|
Short particulars
of the property charged |
Plot no.1504,
GIDC, Naroda Industrial Estate, R.S.No.498 (paiki), adms.1000 sq.mtrs. within
the village limits of mouje Naroda, Taluka city in the registration District
and sub District Ahmedabad Plot no.1503,
GIDC, Naroda Industrial estate, R.S.No.498 (paiki), adms.3422 sq.mtrs. within
the village limits of mouje Naroda, Taluka city in the registration District
and sub District Ahmedabad Plot no.9
(paiki), Survey no.86 and Final Plot no.89 of TPS no.8,Dariapur Kazipur,
being flat no.3 and 4,first floor,adms.100 sq.yds. Subhashnagar, Shahibaug,
Ahmedabad. Survey no. 259
and 260 and Final Plot no. 301, TPS no.14 Dariapur Kazipur, being flat no.
A/101, first floor, adms.370 sq.yds. Shilalekh, Shahibaug, Ahmedabad. |
|
Date of latest
modification prior to the present modification |
29.06.2009 |
|
Particulars of
the present modification |
By virtue of the
aforesaid deeds,dtd.11.07.09,The existing credit facilities enhanced from Rs.544.000
millions to Rs.600.000 millions secured by way extension of EM over immovable properties of company viz.(a)
P.no.1504,GIDC,Naroda Industrial estate,(b) P.no.1503,GIDC Naroda Industrial
estate,(c) P.no.9,S.no.86 and F.P.no.89 of TPS no.8, Dariapur Kazipur, being
flat no.3 and 4 Subhashnagar, Shahibaug, Ahmedabad.(d) S.no.259 and 260 and
Final Plot no. 301,TPS no.14 Dariapur Kazipur, being Flat no.A/101,
Shilalekh, Shahibaug, Ahmedabad. |
|
Name of the company |
ASIATIC COLOUR CHEM INDUSTRIES LIMITED |
|
Presented
By |
Mr. Mahesh K. Agrawal |
|
1) Date and description of instrument creating the change |
No instrument was executed. Memorandum of entry on equitable mortgage dated 29.08.2000 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs.87.000 millions |
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Equitable mortgage charge over the immovable property of the company situated at Plot No. 1503, GIDC, Phase I, Naroda, Ahmedabad – 382 330, Gujarat, India by way of equitable mortgage. The whole of the company immovable properties, fittings, electrical installations, erections, structures, godowns, present and or future. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
First charge over the entire immovable property of the company to cover the aggregate credit limits of Rs.87.000 millions sanctioned by the Bank as under: Facility Limit FBO Rs.70.000 millions Export Packing Credit Rs.15.000 millions Import L/C Rs.15.000 millions Bank Guarantee Rs.1.000 million Medium Term Loan Rs.1.000 million
Rate of Interest: As Per Bank / RBI guidelines in force from time to time |
|
5) Name and Address and description of the person entitled to the charge. |
State Bank of |
|
6) Date and brief description of instrument modifying the charge |
NA |
|
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
NA |
CONTINGENT
LIABILITIES IN RESPECT OF:
|
Particulars |
31.03.2010 (Rs.
in millions) |
|
Guarantees and Counter Guarantees O/s – Others |
2.100 |
|
Letter of Credits issued by the Bank |
182.800 |
|
|
|
FIXED ASSETS
v Membership N.E.P.L
v
v Factory Shed and Building
v Electrical Installation
v Plant and Machinery
v Ancillary Plant
v Energy Efficient Equipment
v E.T.P. Plant
v Quality Control Equipment
v Furniture and Fixture
v Office Equipment
v Vehicles
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.44.43 |
|
|
1 |
Rs.71.90 |
|
Euro |
1 |
Rs.63.40 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
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.