MIRA
INFORM REPORT
|
Report Date : |
03.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
SARAVANA GLOBAL ENERGY LIMITED (w.e.f. 14.06.2007) |
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Formerly Known
As : |
SARAVANA INSULATORS LIMITED |
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Registered
Office : |
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Country : |
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Financials (as
on) : |
30.09.2010 |
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Date of
Incorporation : |
04.07.2003 |
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Com. Reg. No.: |
18-051135 |
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Capital
Investment / Paid-up Capital : |
Rs.261.952
Millions |
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|
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CIN No.: [Company Identification
No.] |
U31300TN2003PLC051135 |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHES16611A |
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PAN No.: [Permanent Account No.] |
AAHCS3240C |
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Legal Form : |
A closely held public limited liability company. |
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Line of Business
: |
Manufacturer of
Insulators Insulation Materials. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
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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 5300000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. The
company has incurred some losses in the current year. Trade relations are
reported as fair. Business is active. Payments are reported to be slow but
correct. 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) |
|
|
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
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
|
Registered Office : |
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Tel. No.: |
91-44-28155511 |
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Fax No.: |
91-44-43546235 |
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E-Mail : |
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Head Office : |
Crisil House, 121-122, |
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Tel. No.: |
91-22-66913001-09 |
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Fax No.: |
91-22-66913030 |
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Factory : |
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Tel. No.: |
91-4142-298922 / 298881 |
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Fax No.: |
91-4142-298880 |
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E-Mail : |
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Branches : |
Located At:
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DIRECTORS
As on 16.03.2011
|
Name : |
Mr. Padam J. Challani |
|
Designation : |
Chairman and CEO |
|
Address : |
23/1, |
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Date of Birth/Age : |
10.01.1955 |
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Date of Appointment : |
04.07.2003 |
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|
Name : |
Mr. Prakashchand B Mootha |
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Designation : |
Vice Chairman |
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Address : |
46, |
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Date of Birth/Age : |
16.06.1954 |
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Date of Appointment : |
04.07.2003 |
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Name : |
Mr. Ajeeth P Challani |
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Designation : |
Managing Director |
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Address : |
23/1, |
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Date of Birth/Age : |
07.05.1979 |
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Date of Appointment : |
12.01.2004 |
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Name : |
Mr. Abilash Kumar Jain |
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Designation : |
Executive Director |
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Address : |
46, |
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Date of Birth/Age : |
22.05.1979 |
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Date of Appointment : |
10.03.2005 |
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Name : |
Gigi George |
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Designation : |
Director Independent |
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Address : |
S Kgeyes Srnivass Flats Srinivasapuram, Chennai – 600041, |
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Date of Birth/Age : |
17.12.1966 |
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Date of Appointment : |
27.08.2007 |
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|
Name : |
Mr. Bharat Bakshi |
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Designation : |
Nominee Director |
|
Address : |
C-6, Meghdoot, 536, Linking Road, Khar, Mumbai – 400052, |
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Date of Birth/Age : |
05.09.1968 |
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Date of Appointment : |
20.02.2008 |
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Name : |
Pitchiah Sudalaimuthu |
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Designation : |
Executive Director |
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Address : |
E-5, Sneham Apartment, No. 3, Park Road, Anna Nagar, Western
Extension, Chennai-600050, Tamilnadu, India |
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Date of Birth/Age : |
02.10.1952 |
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Date of Appointment : |
01.08.2010 |
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Name : |
Mr. Babulal Juharmalji Mehta |
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Designation : |
Executive Director |
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Address : |
SGEL, Factory Campus, |
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Date of Birth/Age : |
01.09.1951 |
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Date of Appointment : |
16.03.2011 |
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Name : |
Mr. Satya Vagiswarn Rangaswami |
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Designation : |
Director Technical |
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Address : |
No.9, Pudu Nagar, Near Selvamuthu Mariamman Koli Vadalur – 607303, |
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Date of Birth/Age : |
10.02.1948 |
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Date of Appointment : |
01.02.2007 |
KEY EXECUTIVES
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Name : |
Mr. H. Ramachandran |
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Designation : |
Secretary |
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Address : |
7/2, Dr. Ranga Salai, Mylapore, Chennai-600004, |
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Date of Birth/Age : |
12.07.1963 |
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Date of Appointment : |
21.07.2010 |
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Name : |
Mr. S.V. Raghavan |
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Designation : |
Secretary |
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Address : |
3/2, |
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Date of Birth/Age : |
09.04.1960 |
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Date of Appointment : |
01.06.2007 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 16.03.2011
|
Names of Shareholders |
|
No. of Shares |
|
Padam J Challani |
|
2093875 |
|
D B Prakashchand Jain |
|
1045890 |
|
M. Prakashchand Jain |
|
16730 |
|
K. Rajendrakumar Bethala |
|
836715 |
|
R. Ranganathan |
|
4180 |
|
V. Pichumani |
|
4180 |
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N. Subramanian |
|
4180 |
|
Ajeeth P Challani |
|
2093875 |
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P. Shobha jointly with Shobha Adarsh Foundations, |
|
2093890 |
|
P. Shobha jointly with Padam J Chalani and Ajeeth P Challani |
|
2093875 |
|
Mamtha A. Jain |
|
2093875 |
|
J P Swapna |
|
2093875 |
|
Swetha Jain joint with Suraj Kumari and D.B. Prakash Chand Jain |
|
1045890 |
|
Mukesh Kumar jointly with Pramila |
|
836715 |
|
Abilash Kumar jointly with Mamtha A Jain |
|
836715 |
|
Pramila jointly with Mukesh Kumar |
|
836715 |
|
Mamtha A Jain jointly with Abhilash Kumar |
|
836715 |
|
Suraj Kumari jointly with D.B. Prakashchand Jain |
|
836715 |
|
Rajendrakumar Bethala (HUF) |
|
209179 |
|
Pankaj Bethala |
|
418358 |
|
Savitha Bethala |
|
418358 |
|
NYLM Jacob Ballas |
|
4986268 |
|
Jacob Ballas Capital India Private Limited, |
|
249314 |
|
Saravan Foundations Limited, |
|
209175 |
|
Equity Share Breakup |
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Percentage of Holding |
|
Category |
|
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Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
19.04 |
|
Bodies
corporate |
|
1.75 |
|
Directors
or relatives of directors |
|
68.78 |
|
Other
top fifty shareholders |
|
10.43 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of
Insulators Insulation Materials. |
PRODUCTION STATUS (AS ON 31.03.2009)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Electrical Porcelain |
Metric |
18000 |
18000 |
6189 |
GENERAL INFORMATION
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Bankers : |
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Facilities : |
Note: Cash credit facility and foreign currency loans are secured by:
External commercial borrowing is secured by:
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
S.R. Batliboi and Associates Chartered Accountant |
|
Address : |
TPL House, 2nd Floor No.3, |
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Tel. No.: |
91-44-66328400 |
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Fax No.: |
91-44-24311450 |
CAPITAL STRUCTURE
As on 16.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
30210000 |
Equity Shares |
Rs.10/- each |
Rs.302.100 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
26195277 |
Equity Shares |
Rs.10/- each |
Rs.261.952
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
30.09.2010 (6th Months) |
31.03.20009 (12th
Months) |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
261.952 |
261.952 |
261.953 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1069.420 |
1178.514 |
1175.392 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1331.372 |
1440.466 |
1437.345 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1146.443 |
991.151 |
92.921 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
1146.443 |
991.151 |
92.921 |
|
|
DEFERRED TAX LIABILITIES |
12.531 |
65.663 |
60.570 |
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|
|
|
|
|
|
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TOTAL |
2490.346 |
2497.280 |
1590.836 |
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APPLICATION OF FUNDS |
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|
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FIXED ASSETS [Net Block] |
1157.629 |
1029.989 |
811.034 |
|
|
Capital work-in-progress |
264.889 |
77.642 |
24.630 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
113.408 |
220.276 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
443.455
|
268.157
|
171.389 |
|
|
Sundry Debtors |
330.557
|
377.471
|
406.037 |
|
|
Cash & Bank Balances |
350.717
|
619.845
|
26.005 |
|
|
Other Current Assets |
3.446
|
0.990
|
0.000 |
|
|
Loans & Advances |
101.719
|
78.315
|
73.467 |
|
Total
Current Assets |
1229.894
|
1344.778
|
676.898 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
103.719
|
44.550
|
58.600 |
|
|
Other Current Liabilities |
55.078
|
18.728
|
27.520 |
|
|
Provisions |
3.269
|
8.903
|
55.881 |
|
Total
Current Liabilities |
162.066
|
72.181
|
142.002 |
|
|
Net Current Assets |
1067.828
|
1272.597
|
534.896 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
FORN CURR MONETORY ITEM TRANSN DIFF ACCOUNT |
0.000 |
3.644 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2490.346 |
2497.280 |
1590.836 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
30.09.2010 (6th
Months) |
31.03.20009 (12th
Months) |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
786.712 |
755.949 |
972.008 |
|
|
|
Other Income |
64.980 |
24.685 |
16.528 |
|
|
|
Reimbursement of Loss from Directors |
0.000 |
6.000 |
0.000 |
|
|
|
TOTAL (A) |
851.692 |
786.634 |
988.536 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Material Consumed |
448.790 |
376.629 |
383.177 |
|
|
|
Personnel expenses |
88.722 |
68.122 |
66.875 |
|
|
|
Operating expenses |
451.392 |
325.601 |
222.113 |
|
|
|
Provision for diminution in value of investments |
0.000 |
0.000 |
7.830 |
|
|
|
Increase/ Decrease in stock |
(164.454) |
(100.971) |
(30.587) |
|
|
|
TOTAL (B) |
824.450 |
669.381 |
649.408 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) I |
27.242 |
117.253 |
339.128 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
86.918 |
44.117 |
66.365 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(59.676) |
73.136 |
272.763 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
110.722 |
63.421 |
18.620 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
(170.398) |
9.715 |
254.143 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(52.608) |
6.593 |
97.096 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
(117.790) |
3.122 |
157.047 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
275.492 |
272.370 |
130.645 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Dividend |
0.000 |
0.000 |
13.097 |
|
|
|
Tax on Dividend |
0.000 |
0.000 |
2.225 |
|
|
BALANCE CARRIED TO
THE B/S |
157.702 |
275.492 |
272.370 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
15.209 |
23.616 |
NA |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
38.960 |
76.713 |
14.382 |
|
|
|
Capital Goods |
81.459 |
25.946 |
158.703 |
|
|
TOTAL IMPORTS |
120.419 |
102.659 |
173.085 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(4.50) |
0.12 |
7.29 |
|
KEY RATIOS
|
PARTICULARS |
|
30.09.2010 (6th
Months) |
31.03.20009 (12th
Months) |
31.03.2008 |
|
PAT / Total Income |
(%) |
(13.83)
|
0.40
|
15.88 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(21.66)
|
1.28
|
25.70 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(7.14)
|
0.40
|
17.08 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.13)
|
0.00
|
0.17 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.98
|
0.73
|
0.16 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
7.59
|
18.63
|
4.76 |
LOCAL AGENCY FURTHER INFORMATION
Financial Results
For the period ended 30th September, 2010, the company has earned
a total income of Rs.851.693 millions against previous periods of Rs.786.634
millions and has made loss of the Rs. 117.790 millions as compared to the
previous period profit of Rs.9.715 millions.
The company made application to the registrar of company (Roc) for both
extension of accounting period ending 30.09.2010 (18 months period) and also
holding of annual general meeting upto 31.03.2011 and the approval fro Roc also
since obtained.
Business Operation
The Company operates in one business segments namely manufacture and
sale of Insulators. Their second unit, a
‘green field project’ located at Madhuranthakam, Chengleput District, about 65
kms from Chennai, in the State of Tamilnadu, commenced commercial production in
April 2010 and its operations are now getting stabilized.
However, the year was marked by several adverse factors both on the
production and commercial fronts. The market both in
The operations faced a continuing inflationary
cost of raw material, fuel and components. Consequent to the power cut imposed
by the utilities, the first Unit at Cuddalore faced interrupted power supplies
of more than six hours on each day, leading to low production volume besides
poor recovery of kiln performance. All these factors were responsible for the
net loss of Rs. 117.790 million for the year
The company also has signed an MoU with the Tamilnadu state government
for their current and proposed investment in manufacturing at units 1 and 2 in
Tamilnadu. This will provide to the company continuous power supply and various
other incentives including sales tax deferral benefits. The company also has
signed an MoU with PGCIL for development of post insulators for supply to 1200
KV sub-stations and porcelain long rod and composite long rod insulators for
supply to 122KV transmission lines. These products are being developed for
supply to PGCIL for installation at 122 KV test stations.
The company has also signed MoU with Gas Authority of India Limited
(GAIL) for supply of natural gas through pipeline at their Cuddalore Unit. This
supply is expected to commence fro May 2011.
Further, the company has EHV lab with NABL accredited for high voltage.
The scope of EHV testing includes Dry/Wet Power Frequency, Lighting Impulse,
Wet switching RIV,
The company is also approved by PGCIL, NTPC for SCPI, LRI upto 765 KV.
The company has alos got certificate form STRI,
Bankers Charges
Report as per Registry
|
This form is for |
Modification of
charge |
|
Charge identification
number of the modified |
10128734 |
|
Corporate
identity number of the company |
U31300TN2003PLC051135 |
|
Name of the
company |
SARAVANA GLOBAL
ENERGY LIMITED |
|
Address of the
registered office or of the principal place of business in |
|
|
Type of charge |
Immovable
Property Movable Property
(not being pledge) Others |
|
Particular of
charge holder |
HSBC Bank PLC, |
|
Email |
|
|
Nature of
description of the instrument creating or modifying the charge |
1. Supplemental
Hypothecation Deed For Plant and
Machinery Dated 9dec2010 For USD 15 Million - Unit I 2. Supplemental
Hypothecation Deed For Plant and
Machinery Dated 9dec2010 For USD 15 Million - Unit Ii 3. Noc From State
Bank Of 4. Noc From State
Bank Of |
|
Date of
instrument Creating the charge |
09.12.2010 |
|
Amount secured by
the charge |
Rs.750.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest Shall Be
Payable By The Company On The Banking Facilities As Per Bank's Tariff Subject
However That The Bank Shall Have The Right To Change The Rate Of Interest
After Giving Notice To The Terms of
Repayment In Consideration
Of Banking Facilities Sanctioned/ To Be Sanctioned By The Bank To The
Company, The Company Has Hypothecated, Charged and Mortgaged To The Bank By Way Of Exclusive
Charge As A Continuing Security On Specific Plant And Machineries In Unit I
and Ii and By Way Of Exclusive Mortgage As A
Continuing Security On Land And Building In Unit Ii, To Secure The Repayments
Of The Advances Together With Interest, Cost and All Other Charges Margin The Company Shall
Maintain Such Margin As May Be Specified By The Bank From Time To Time Extent and
Operation of the charge Incase The
Company Fails To Fulfill Obligation Under The Agreement, The Bank Shall Be
Entitled To Take Possession Of The Hypothecated Properties And Sell Them By Public
Auction Or Private Contract And Utilise The Proceeds In Full Or Part
Settlement Of Its Claims. |
|
Short particulars
of the property charged |
I)
Exclusive
Charge On Specific Assets Of Unit I ( II)
Exclusive
Charge On Specific Assets Of Unit Ii ( III)
95
Acres And 20.5 Cents In Various Survey Numbers Enclosed In Arayapakkam
Village, Madurantakkam Taluk, Kancheepuram District, Tamilnadu IV)
3
Acres And 33 Cents In Various Survey Numbers Enclosed In Keezhavalam Village,
Madurantakkam Taluk, Kancheepuram District, Tamilnadu V)
57
Acres And 39.5 Cents In Various Survey Numbers Enclosed In Paathur Village,
Madurantakkam Taluk, Kancheepuram District, Tamilnadu |
|
Date of latest
modification prior to the present modification |
29.10.2009 |
|
Particulars of
the present modification |
The Charge Is
Modified And Following Shall Be The Revised Security Structure:1.Exclusive
Charge On Specific Assets Of Unit I Funded By HSBC Bank Plc and For USD 15 Million (Notional Rupee Equivalent
Is Inr 750million)2.Exclusive Charge On Specific Assets Of Unit Ii Funded By
HSBC Bank Plc and USD 15 Million 3.Existing Mortgage Of Lands At Arayapakkam,
Keezhavalam And Paathur Villages Shall Continue To Hold As Is |
Fixed Assets:
- Land
- Plant and Machinery
- Computer
- Office Equipment
- Furniture and electrical fittings
- 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.44.94 |
|
|
1 |
Rs.73.46 |
|
Euro |
1 |
Rs.64.58 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--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 |
NO |
|
--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.