1. Summary Information
|
|
|
Country |
|
|
Company Name |
Surbhi
Industries Limited |
Principal Name 1 |
Mr. Bipinbhai Jasmatbhai Patel |
|
Status |
Moderate |
Principal Name 2 |
Mr. Nimesh Jariwala |
|
|
|
Registration # |
017672 |
|
Street Address |
Surbhi Estate,
Mohanwadi Katargam, |
||
|
Established Date |
21.05.1992 |
SIC Code |
-- |
|
Telephone# |
91-261-2481185/86/87/88 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-261-2481190 |
Business Style 2 |
Supplier |
|
Homepage |
Product Name 1 |
Yarns |
|
|
# of employees |
Not Available |
Product Name 2 |
Grey Fabrics |
|
Paid up capital |
Rs. 34.348 Millions |
Product Name 3 |
Embroideries |
|
Shareholders |
Promoter Group -
22.71% Public
shareholding - 77.29% |
Banking |
Dena Bank |
|
Public Limited Corp. |
Yes |
Business Period |
19 Years |
|
IPO |
Yes |
International Ins. |
- |
|
Public |
Yes |
Rating |
B
(29) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Associates/Subsidiaries
: |
-- |
Indo Fashions Private Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2009 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
41,628,000 |
Current Liabilities |
21,597,000 |
|
Inventories |
17,500,000 |
Long-term Liabilities |
42,823,000 |
|
Fixed Assets |
60,599,000 |
Other Liabilities |
6,495,000 |
|
Deferred Assets |
0 |
Total Liabilities |
70,915,000 |
|
Invest& other Assets |
2,174,000 |
Retained Earnings |
16,638,000 |
|
|
|
Net Worth |
50,986,000 |
|
Total Assets |
121,901,000 |
Total Liab. & Equity |
121,901,000 |
|
Total Assets (Previous Year) |
121,840,000 |
|
|
|
P/L Statement as of |
31.03.2009 |
(Unit: Indian Rs.) |
|
|
Sales |
199,487,000 |
Net Profit |
2,898,000 |
|
Sales(Previous yr) |
164,843,000 |
Net Profit(Prev.yr) |
1,744,000 |
MIRA
INFORM REPORT
|
Report Date : |
02.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
SURBHI INDUSTRIES LIMITED |
|
|
|
|
Registered Office
: |
Surbhi Estate, Mohanwadi Katargam, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2009 |
|
|
|
|
Date of
Incorporation : |
21.05.1992 |
|
|
|
|
Com. Reg. No.: |
017672 |
|
|
|
|
Paid-up Capital
: |
Rs. 34.348 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L17110GJ1992PLC017672 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
SRTS00390F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCS4385E |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The company’s Share are Listed on
the Stock Exchange. |
|
|
|
|
Line of Business
: |
Manufacturer and Supplier of various textile products ranging from
Yarns to Grey Fabrics and Finished embroidery fabrics |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 200000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. Profitability
of the company appears to be low. However, trade relations are reported as
fair. Business is active. Payments are reported to be slow but correct. The company can be considered for business dealings with some
cautions. |
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 – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
Surbhi Estate, Mohanwadi Katargam, |
|
Tel. No.: |
91-261-2481185/86/87/88 |
|
Fax No.: |
91-261-2481190 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
Plot No. 249/1, Village Karanj, Taluka Mandvi, District |
DIRECTORS
As On 30.09.2009
|
Name : |
Mr. Bipinbhai Jasmatbhai Patel |
|
Designation : |
Director |
|
Address : |
151/B, Jamnanagar Society, Near |
|
Date of Birth/Age : |
14.03.1970 |
|
Date of Appointment : |
21.05.1992 |
|
DIN No.: |
00023447 |
|
|
|
|
Name : |
Mr. Prerak Ashwinkumar Amin |
|
Designation : |
Director |
|
Address : |
Shri Niketan Apartment, Near R T O Office, Majura Gate, |
|
Date of Birth/Age : |
12.07.1978 |
|
Date of Appointment : |
25.12.2002 |
|
DIN No.: |
00421479 |
|
|
|
|
Name : |
Mr. Nimesh Jariwala |
|
Designation : |
Director |
|
Address : |
Flat No 204, Parth Apartment, |
|
Date of Birth/Age : |
12.06.1965 |
|
Date of Appointment : |
25.12.2002 |
|
|
|
|
Name : |
Mr. Pravinbhai Patel |
|
Designation : |
Director |
|
Address : |
17, Shree Nagar Society, Near Subhas Nagar Hall, |
|
Date of Birth/Age : |
16.06.1958 |
|
Date of Appointment : |
25.12.2002 |
|
|
|
|
Name : |
Mr. Ravjibhai Prabhatbahi Patel |
|
Designation : |
Director |
|
Address : |
151/B, Jamnanagar Society, Near |
|
Date of Birth/Age : |
09.11.1956 |
|
Date of Appointment : |
21.05.1992 |
|
DIN No.: |
00023332 |
KEY EXECUTIVES
|
Name : |
Mr. Pragnesh Joshi |
|
Designation : |
Practicing Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As On 31.12.2008
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
680,800 |
19.81 |
|
|
100,000 |
2.91 |
|
|
780,800 |
22.71 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
780,800 |
22.71 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
|
|
|
|
5,200 |
0.15 |
|
|
|
|
|
|
2,651,500 |
77.13 |
|
|
2,656,700 |
77.29 |
|
Total Public shareholding (B) |
2,656,700 |
77.29 |
|
Total (A)+(B) |
3,437,500 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts
have been issued |
- |
- |
|
Total (A)+(B)+(C) |
3,437,500 |
- |
(1) Indian
Individuals / Hindu Undivided Family
Individual shareholders holding nominal
share capital up to Rs. 0.100 Million BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Supplier of various textile products ranging from
Yarns to Grey Fabrics and Finished embroidery fabrics |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
PRODUCTION STATUS (As On 31.03.2009)
|
Particulars |
|
|
Unit |
Actual
Production |
|
Text Yarn |
|
|
Kgs |
1137728.000 |
|
Twisted Yarn and Crepe Yarn |
|
|
Kgs |
792032.893 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
|
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
D. C. Jariwala and Company Chartered Accountant |
|
Address : |
330, Royal Trading Tower, Opposite Ratan Cinema, Salabatpura, |
|
Pan No.: |
AAZPJ4601K |
|
|
|
|
Associates/Subsidiaries : |
|
CAPITAL STRUCTURE
As On 31.03.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs. 10/- each |
Rs. 50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3437400 |
Equity Shares |
Rs. 10/- each |
Rs.34.374
Millions |
|
Less |
Amount in Arrears |
|
Rs. 0.026
Million |
|
|
Total |
|
Rs. 34.348 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
34.348 |
34.348 |
34.348 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
16.638 |
13.740 |
11.996 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
50.986 |
48.088 |
46.344 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
42.823 |
52.946 |
48.116 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
42.823 |
52.946 |
48.116 |
|
|
DEFERRED TAX LIABILITIES |
6.495 |
5.396 |
5.120 |
|
|
|
|
|
|
|
|
TOTAL |
100.304 |
106.430 |
99.580 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
60.599 |
68.995 |
64.603 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
2.174 |
2.174 |
2.020 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
17.500
|
17.259 |
7.251 |
|
|
Sundry Debtors |
26.400
|
20.696 |
24.701 |
|
|
Cash & Bank Balances |
1.374
|
2.476 |
1.707 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
13.854
|
10.240 |
14.012 |
|
Total
Current Assets |
59.128
|
50.671 |
47.671 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
19.831
|
14.359 |
13.662 |
|
|
Other Current Liabilities |
0.020
|
0.072 |
0.057 |
|
|
Provisions |
1.746
|
0.979 |
0.995 |
|
Total
Current Liabilities |
21.597
|
15.410 |
14.714 |
|
|
Net Current Assets |
37.531
|
35.261 |
32.957 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
100.304 |
106.430 |
99.580 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
199.487 |
164.843 |
135.724 |
|
|
|
Other Income |
1.541 |
2.210 |
1.473 |
|
|
|
TOTAL (A) |
201.028 |
167.053 |
137.197 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption of raw materials |
141.578 |
122.090 |
93.129 |
|
|
|
Purchases |
0.007 |
8.200 |
8.909 |
|
|
|
Manufacturing expenses |
19.333 |
14.794 |
10.354 |
|
|
|
Payment to employees |
6.496 |
5.446 |
4.829 |
|
|
|
Administrative expenses |
2.553 |
2.219 |
2.007 |
|
|
|
Selling and distribution expenses |
5.767 |
4.841 |
5.090 |
|
|
|
Increase/Decrease in stock of finished goods |
4.040 |
(8.179) |
(0.578) |
|
|
|
TOTAL (B) |
179.774 |
149.411 |
123.740 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
21.254 |
17.642 |
13.457 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
7.500 |
6.745 |
4.114 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
13.754 |
10.897 |
9.343 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
9.246 |
8.571 |
7.434 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
4.508 |
2.326 |
1.909 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
1.610 |
0.582 |
0.940 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
2.898 |
1.744 |
0.969 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
11.239 |
9.495 |
8.526 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
14.137 |
11.239 |
9.495 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.84 |
0.51 |
0.28 |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2009 |
30.09.2009 |
31.12.2009 |
|
Net Sales |
48.650 |
43.200 |
38.150 |
|
Total Expenditure |
45.040 |
40.100 |
35.490 |
|
PBIDT (Excl OI) |
3.610 |
3.100 |
2.660 |
|
Other Income |
0.000 |
00 |
0.000 |
|
Operating Profit |
3.610 |
3.110 |
2.660 |
|
Interest |
0.000 |
00 |
0.000 |
|
PBDT |
3.610 |
3.110 |
2.650 |
|
Depreciation |
2.800 |
2.310 |
2.310 |
|
Profit Before Tax |
0.810 |
0.800 |
0.340 |
|
Tax |
0.000 |
00 |
0.000 |
|
Profit After Tax |
0.810 |
0.800 |
0.340 |
|
Net Profit |
0.810 |
0.800 |
0.340 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
PAT / Total Income |
(%) |
1.44
|
1.04 |
0.71 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.26
|
1.41 |
1.41 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.77
|
1.94 |
1.70 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09
|
0.05 |
0.04 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.26
|
1.42 |
1.36 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.74
|
3.29 |
3.24 |
LOCAL AGENCY FURTHER INFORMATION
Financial Results:
The financial results during the year are very much appreciable company
has recorded turnover of Rs. 199.487 millions as against the previous year turnover
of 164.843 millions which show 21% increase against the previous year. The
company has earned profit before tax and depreciation of Rs. 13.754 millions as
against Rs. 10.897 millions of previous year. The net profit after tax of the
company increased to Rs. 2.898 millions against the Rs. 1.744 million in
previous year.
Form 8:
|
This form is for |
Modification of
charge |
||||||
|
Charge
identification number of the modified |
90109219 |
||||||
|
Corporate
identity number of the company |
L17110GJ1992PLC017672 |
||||||
|
Name of the
company |
SURBHI INDUSTRIES
LTD |
||||||
|
Address of the
registered office or of the principal place of business in |
Surbhi Estate
Mohanwadikatargam, |
||||||
|
Type of charge |
Immovable
Property |
||||||
|
Particular of
charge holder |
|
||||||
|
Nature of description
of the instrument creating or modifying the charge |
Memorandum of
Entry For Extension of Existing Mortgage For Limited Companies |
||||||
|
Date of
instrument Creating the charge |
27.05.2008 |
||||||
|
Amount secured by
the charge |
Rs. 48.765
Millions |
||||||
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest
- CCH - BPLR i.e. 13.00 at present Term Loan -
BPLR-0.50%+0.50% i.e. 13.00% at present Term Loan for
Wind Power - BPLR-1.50%+0.50% i.e. 12.00% at present Letter of credit
(DP) (I/f) - As per Bank guidelines Terms of
Repayment - CCH - Repayable on demand Term Loan -
Monthly Installment Margin - As per
sanction note Extent and
Operation of the charge - Equitable Mortgage created to secure Financial
Assistance give by the Bank to the Company. |
||||||
|
Short particulars
of the property charged |
All the piece and
parcel of Land building bearing Plot No.1 admeasuring 3860 Sq. Mtrs. of Block
No. 249, i. e. S. No. 167/1, 167/2, 167/3, paiki of Village: Karanj, Tal.:
Mandvi, Dist.: Surat. |
||||||
|
Date of latest
modification prior to the present modification |
29.12.2006 |
||||||
|
Particulars of
the present modification |
Charge created on
the assets stated now modified to secure increase in CC limit of Rs. 3.500 millions,
making total charge on assets to Rs. 48.765 millions, more particularly
stated |
Fixed Assets:
- Land
- Factory
building
- Tube well
- Plant and
machinery
- Electrification
- Motor car
- Office
equipments
- Computer
- Wireless sets
- Testing and lab
equipments
- Furniture and
fixtures
- Vehicles
- Water tank
AS PER WEBSITE DETAILS
PROFILE:
“They at Surbhi are committed to Quality. They manufacture and supply various textile products ranging from Yarns to Grey Fabrics and Finished embroidery fabrics, specially conceptualized designs keeping in mind the latest fashion trends.”
They are an ISO 9001:2000 certified company, complying with strict level of
quality control required according to international standards.
Surbhi group is one of the leading manufacturers of twisted
polyester and filament yarns, plain and jacquard fabrics and fancy
embroideries. They have there manufacturing facilities at Sachin G.I.D.C. and
Karanj in
There weaving plant comprises of Jacquard and Dobby power looms. With there
strict quality control and continual design development, they supply the most
superior weave quality fabric.
The in-house yarn processing consists sizing machines, two for one (TFO)
twisters, Texturising and Draw Texturising machines, crepe machines, hollow
spindle twisters and doubling machines. Having in-house processing provides
them great flexibility in programming and assures them to process and supply
superior yarn qualities in huge quantities and timely deliveries.
For value addition on fabric, they are equipped with latest computerized
Schiffli embroidery machines from
The continual success achieved to date is due to company’s basic guiding
philosophy, “To be the best, through the pursuit of excellence in performance
and quality.” And it is this piece of philosophy which has been a driving force
behind there continual growth in terms of manufacturing capabilities and
financial investment policies.
It is because of there excellence in performance and quality, not only in there
products but also processes, that today they are an ISO 9001:2000 Certified
company.
At Surbhi, they are not only a company but also a parivar looking after and
taking care of not only there employees but also there Stake Holders.
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.44.89 |
|
|
1 |
Rs.73.85 |
|
Euro |
1 |
Rs.64.76 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
29 |
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.