MIRA
INFORM REPORT
|
Report Date : |
17.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
GALAXY SURFACTANTS LIMITED |
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Registered Office : |
C-49/2, TTC
Industrial Area, Pawne, Navi Mumbai - 400 703, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
20.05.1986 |
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Com. Reg. No.: |
11-39877 |
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Capital Investment / Paid-up Capital : |
Rs.177.274 Millions |
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CIN No.: [Company
Identification No.] |
U39877MH1986PLC039877 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMG00044C MUMG00440G |
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PAN No.: [Permanent
Account No.] |
AAACG1539P |
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Legal Form : |
A Closely Held
Public Limited Liability Company. |
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Line of Business : |
Manufacturing of
organic surface active agents (surfactants) and preparations based thereon,
detergents, auxiliary washing preparations (for rinsing or bleaching cloths)
and cleaning preparations (for floors / windows etc.) |
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No. of Employees: |
Not Divulged by
the management |
RATING & COMMENTS
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MIRA’s Rating : |
A (60) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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 |
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Maximum Credit Limit : |
USD 6100000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having fine track. Financial
position of the company appears to be sound. Trade relations are reported as fair.
Business is active. Payments are reported to be regular and as per
commitments. The company can be considered good for normal for business dealings at
usual trade terms and conditions. |
NOTES :
Any query related to this report can be made on
e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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|
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
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Registered Office/ Corporate Office : |
C-49/2, TTC
Industrial Area, Pawne, Navi Mumbai - 400 703, |
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Tel. No.: |
91-22-27616666 /
65134444 |
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Fax No.: |
91-22-27615883 /
27615886 |
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E-Mail : |
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Website : |
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Head Office : |
Sector 36, Pace
City II, Gurgaon – 122004, |
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Factory 1 : |
W-67 (B), MIDC, Tarapur,
Post Boisar – 401 506, Thane, |
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Factory 2 : |
M-3, MIDC,
Tarapur, Post Boisar – 401 506, Thane, |
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Factory 3 : |
W-44(C), MIDC,
Tarapur, Post Boisar – 401 506, Thane, |
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Factory 4 : |
G - 59, MIDC,
Tarapur, Post Boisar – 401 506, Thane, |
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Factory 5 : |
N-46/1 and 2,
MIDC, Tarapur, Post Boisar – 401 506, Thane, |
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Factory 6 : |
V-23, MIDC, Taloja,
Panvel - 410 208, District Raigad, |
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Factory 7 : |
Plot No. 1, Village Chal, CIBCO, Near M.I.D.C. Taloja, Panvel,
District - Raigad, Pin - 410 208, |
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Branches : |
Gate No. 6, , C-40,
Phase –11, Okhla Industrial Area, |
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Tel. No.: |
91-11-2691 4581 /
2691 6632 / 2691 6636 |
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Fax No.: |
91-11-2691 4581 |
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E-mail : |
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Overseas
Office: |
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Tel. No.: |
201 750 1055 x 226 |
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Fax No.: |
201 750 1012 |
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E-mail : |
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Sales Deposit Office : |
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4125, Level 41, United Center, 323, |
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Tel. No.: |
662-631 0420 |
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Fax No.: |
662-213 3081 |
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Mobile No.: |
668-1913 2844 |
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E-mail : |
DIRECTORS
As On 24.07.2010
|
Name : |
Mr. Shekhar Unnathan Vaidyanathan |
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Designation : |
Managing Director
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Address : |
Saradha Niwas,
Plot No 53, Sector 28, Vashi, Navi Mumbai – 400703, |
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Date of Birth/Age : |
18.02.1954 |
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Qualification : |
B. Chemical
Engineer |
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Date of Appointment : |
20.05.1986 |
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DIN No. : |
00265017 |
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Name : |
Mr. Gopalkrishnan
Ramakrishnan |
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Designation : |
Whole Time
Director |
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Address : |
Raaj, Plot No.
51, Sector 28, Vashi, Navi Mumbai – 400703, |
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Date of Birth/Age : |
26.05.1954 |
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Qualification : |
M. Com, FCA,
F.I.C.W.A., A.C.S. |
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Experience : |
31 Years |
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Date of Appointment : |
20.05.1986 |
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DIN No. : |
00264760 |
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Name : |
Mr. Sudhir
Dattaram Patil |
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Designation : |
Director |
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Address : |
Sumati, Plot No. 4-B,
Nandeep Co-op Hsg Society, Goregaon East, Mumbai – 400063, Maharashtra, India
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Date of Birth/Age : |
05.09.1954 |
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Qualification : |
B. Chemical
Engineer |
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Date of Appointment : |
20.05.1986 |
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DIN No. : |
00264933 |
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Name : |
Mr. Shashikant
Rayappa Shanbhag |
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Designation : |
Whole Time
Director |
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Address : |
501, Tirupati,
Plot No. 32, Sector 19, Nerul, Navi Mumbai – 400706, |
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Date of Birth/Age : |
25.01.1954 |
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Qualification : |
B. Com, A.C.A,
C.W.A. |
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Date of Appointment : |
20.05.1986 |
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DIN No. : |
00265103 |
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Name : |
Mr. Uday Krishna Kamat |
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Designation : |
Whole Time
Director |
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Address : |
9, Ganesh Villa,
Tejpal Scheme, Road No. 2, Vile Parle (East), Mumbai – 400057, |
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Date of Birth/Age : |
14.05.1954 |
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Date of Appointment : |
24.10.2009 |
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DIN No. : |
00226886 |
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Name : |
Mr. Subodh
Satchitanand Nadkarni |
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Designation : |
Director |
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Address : |
D-32, Mangireesh,
520, |
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Date of Birth/Age : |
02.04.1956 |
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Date of Appointment : |
27.09.2002 |
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DIN No. : |
00145999 |
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Name : |
Mr. Venkatesh Kasturirangan |
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Designation : |
Director |
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Address : |
359, |
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Date of Birth/Age : |
18.04.1947 |
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Date of Appointment : |
24.09.2005 |
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DIN No. : |
00804869 |
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Name : |
Mr. Melarkode Gganesan Parameswaran |
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Designation : |
Director |
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Address : |
62-A, Technocrat CHs.
Veer Savarkar marg, Prabhadevi, Mumbai – 400025, |
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Date of Birth/Age : |
18.06.1955 |
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Date of Appointment : |
24.09.2005 |
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DIN No. : |
00792123 |
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Name : |
Mr. Ravindranath
Shekar Warriar |
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Designation : |
Chairman cum Managing
Director |
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Address : |
Planet Godrej,
Tower 3, Floor 30, Keshavrao Khadye Marg, Near Jacob Circle, Mumbai,
Maharashtra, India |
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Date of Birth/Age : |
20.04.1947 |
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Date of Appointment : |
29.06.2007 |
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DIN No. : |
00011680 |
KEY EXECUTIVES
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Name : |
Mr. Ganesh Madhav Kamath |
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Designation : |
Company Sectary |
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Address : |
B – 103, Sai
Mandir, |
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Date of Birth/Age : |
07.10.1957 |
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Date of Appointment : |
10.09.2004 |
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Pan No. : |
AADPK8335M |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As On 24.07.2010
|
Names of Shareholders |
|
No. of Shares |
|
Haridas Shenoy |
|
150010 |
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K Kaushik |
|
150010 |
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L Kamath |
|
150010 |
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M Raghunathan |
|
75010 |
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M Vittal |
|
150010 |
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R Srinivasan |
|
150010 |
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V S Mani |
|
75010 |
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Narisnha Diveka |
|
150010 |
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Sadashiv Samant |
|
150010 |
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Anil Kumar Hari Mahaj |
|
150010 |
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Anil Kumar Sitaram PA |
|
150010 |
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Ashok Kumar Rambachan |
|
160010 |
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Ashok Save |
|
30010 |
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Bharat Bhikaji Parab |
|
150010 |
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Bhikhalal Mohanlal D |
|
150010 |
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Bhavana V Dalvi |
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60010 |
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Babu Vaidyanathan IY |
|
350010 |
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Bhagat Rajram Patil |
|
540010 |
As On 24.07.2010
|
Category |
Percentage |
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Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
6.36 |
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Bodies corporate |
2.02 |
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Directors or relatives of Directors |
74.31 |
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Other top fifty shareholders |
8.41 |
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Others |
8.90 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing of organic
surface active agents (surfactants) and preparations based thereon,
detergents, auxiliary washing preparations (for rinsing or bleaching cloths)
and cleaning preparations (for floors / windows etc.) |
GENERAL INFORMATION
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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 : |
S. V. Pinge and Company Chartered Accountants |
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Address : |
1/1, Mitrkul, |
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Tel. No.: |
91-22-26622264 |
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E-mail : |
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Pan No. : |
AADPP9848G |
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Subsidiaries : |
Address: n Building, 242, 08854
Address: Level II,
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CAPITAL STRUCTURE
As On 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
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|
|
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|
50000000 |
Equity Share |
Rs.10/- Each |
Rs.500.000
millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
17727376 |
Equity Share |
Rs.10/- Each |
Rs.177.274 Millions |
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Note:
Includes, 11932813 equity share of Rs.10/-
each, issued as fully paid up bonus shares by capitalization of securities
premium, reserve and balance in profit and loss account.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
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1] Share Capital |
177.274 |
85.637 |
85.637 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
1350.298 |
1053.570 |
833.629 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
1527.572 |
1139.207 |
919.266 |
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LOAN FUNDS |
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1] Secured Loans |
1321.327 |
1104.513 |
843.250 |
|
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2] Unsecured Loans |
295.835 |
190.617 |
174.857 |
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TOTAL BORROWING |
1617.162 |
1295.130 |
1018.107 |
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DEFERRED TAX LIABILITIES |
182.119 |
161.506 |
154.918 |
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TOTAL |
3326.853 |
2595.843 |
2092.291 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1918.726 |
1453.540 |
1190.051 |
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Capital work-in-progress |
74.736 |
104.899 |
64.521 |
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INVESTMENT |
428.633 |
5.007 |
4.910 |
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|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
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FOREIGN CURRENCY MONETARY ITEM TRANSLATION DIFFERENCE ACCOUNT |
0.048 |
1.917 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
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|
Inventories |
679.589 |
681.736 |
617.718 |
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Sundry Debtors |
704.308 |
797.342 |
647.891 |
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Cash & Bank Balances |
111.195 |
58.980 |
32.904 |
|
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Other Current Assets |
0.011 |
0.206 |
0.154 |
|
|
Loans & Advances |
349.940 |
303.382 |
157.928 |
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Total
Current Assets |
1845.043 |
1841.646 |
1456.595 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
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Sundry Creditors |
500.402 |
372.471 |
|
|
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Other Current Liabilities |
344.787 |
356.244 |
552.212 |
|
|
Provisions |
95.144 |
82.451 |
71.574 |
|
Total
Current Liabilities |
940.333 |
811.166 |
623.786 |
|
|
Net Current Assets |
904.710 |
1030.480 |
832.809 |
|
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|
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
3326.853 |
2595.843 |
2092.291 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
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SALES |
|
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|
|
|
Income |
5899.135 |
5560.183 |
3821.093 |
|
|
|
Other Income |
30.283 |
34.117 |
46.077 |
|
|
|
TOTAL (A) |
5929.418 |
5594.300 |
3867.170 |
|
|
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|
|
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Less |
EXPENSES |
|
|
|
|
|
|
|
Material Cost and Inventory Adjustments |
4121.334 |
4140.776 |
2701.558 |
|
|
|
Personnel Costs |
290.633 |
229.958 |
179.053 |
|
|
|
Other Manufacturing, Selling and
Administrative Expenses |
660.074 |
583.566 |
446.404 |
|
|
|
TOTAL (B) |
5072.041 |
4954.300 |
3327.015 |
|
|
|
|
|
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
857.377 |
640.000 |
540.155 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
124.730 |
172.595 |
83.718 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
732.647 |
467.405 |
456.437 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
172.406 |
146.857 |
120.039 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
560.241 |
320.548 |
336.398 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
156.670 |
53.388 |
72.423 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
403.571 |
267.160 |
263.975 |
|
|
|
|
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|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
780.327 |
590.262 |
402.782 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
40.400 |
27.000 |
26.400 |
|
|
|
Interim Dividend |
42.818 |
0.000 |
0.000 |
|
|
|
Proposed Dividend |
26.591 |
42.818 |
42.818 |
|
|
|
Dividend Distribution Tax |
11.796 |
7.277 |
7.277 |
|
|
BALANCE CARRIED
TO THE B/S |
1062.293 |
780.327 |
590.262 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
3036.456 |
2904.132 |
2109.054 |
|
|
TOTAL EARNINGS |
3036.456 |
2904.132 |
2109.054 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials & Packing Materials |
1188.126 |
1824.711 |
949.020 |
|
|
|
Capital Goods |
67.251 |
35.814 |
35.432 |
|
|
|
Spares & Others |
17.532 |
4.380 |
2.563 |
|
|
TOTAL IMPORTS |
1272.909 |
1864.905 |
987.015 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
23.56 |
15.60 |
30.82 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
6.81 |
4.78 |
6.83 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
9.50 |
5.77 |
8.80 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
14.89 |
9.73 |
12.71 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.37 |
0.28 |
0.37 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.67 |
1.85 |
1.79 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.96 |
2.27 |
2.34 |
LOCAL AGENCY FURTHER INFORMATION
BUSINESS
PERFORMANCE:
Business Conditions
and Results:
The year began on a note of caution based on turbulent economic, business and financial conditions experienced in the previous year due to the financial melt down. The Company navigated the flow of opportunities very well during the year.
The following highlights are noteworthy:
• Sales during 2009-10 registered a growth of 6.1% over previous year. The fall in price levels in 2009-10 vis-ŕ-vis 2008-09 has moderated the value growth; otherwise the company achieved a volume growth of 25.7% during the year.
• Due to better off takes and new customer acquisition efforts, the Company did experience capacity constraints across its product range during the year.
• The year showed improved profitability at 9.5% of PBT (% of Net Sales) as against 5.77% in the previous year.
• In terms of profitability of the business and investments, the current year’s performance has been heartening giving us confidence in scaling up investments and laying the foundation for accelerated growth in next five years.
Business Strategy and
Execution:
To sustain growth with returns to investors, the Company is currently focusing on:
• Moving manufacturing facilities near to customers and markets
• Increase the global market share by acquiring new overseas customers
• Leverage customer relations by new product offerings higher up the value chain
• Proximity to customers operating in regional and local markets
The Company has made good progress in moving business efforts in this direction.
The following highlights are noteworthy
• The Company is putting up its first
• The Company has firmed up investment plans at Jhagadia,
• The Company has expanded the sulphation capacity at Taloja. This facility should enable the Company to meet the growth needs and improve domestic market play which is a promising growth market.
Form 8:
|
Corporate
identity number of the company |
U39877MH1986PLC039877 |
||||||
|
Name of the
company |
GALAXY
SURFACTANTS LTD |
||||||
|
Address of the
registered office or of the principal place of business in |
C-49/2, TTC,
Industrial Area, Pawane, Navi Mumbai – 400703, |
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This form is for |
Modification of
charge |
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|
Type of charge |
Book Debts Immovable
Property Floating Charge |
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|
Particular of charge
holder |
|
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|
Nature of instrument
creating charge |
Memorandum of
Entry |
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Date of
instrument Creating the charge |
22.07.2010 |
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|
Amount secured by
the charge |
Rs. 100.000
Millions |
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|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest
- Interest / Commission as may be negotiated / agreed between the Borrower
and the Bank. Terms of
Repayment - Loan shall be Repayable on Demand. Margin - 1) 20%
against the Hypothecated Goods. 2) 20% against
the said debts. Extent and Operation
of the charge - First pari passu charge on the current assets and Second pari
passu charge on security given by the Company Others |
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|
Particulars of
the property charged |
Hypothecation of first
pari passu charge on the current assets of the Company, both present and
future; and Second Pari Passu Charge along with other lenders on immovable
properties of the Company situated at a) Tarapur Industrial Area of MIDC,
Taluka and Regn Dist Palghar, Dist and Regn Dist Thane. b) Taloja Indl Area
of MIDC, Taluka & Regn Dist Panvel, Dist & Regn Dist Raigad. |
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|
Particulars of
the present modification |
By present
modification, the existing charge of Rs.10 Crore is also now secured on
second pari passu basis with immovable property/ies of the Company situated
at a) Plot No.'s W-67 (B), M-3,
N-46/1, N-46/2, W-44 (C), G-59 of MIDC, Tarapur b) Plot No.V23 of MIDC,
Taloja and Plot No.1 of CIDCO, Taloja. |
Fixed assets
v
Leasehold land
v
Factory
building
v
Building
– others
v
Plant and machinery
v
Furniture and fixtures
v
Vehicles
v
Office equipments
WEBSITE DETAILS:
PROFILE:
Modest beginning in
1980
A team of professionals
challenged their competencies by tapping potential and making profits, both in
With a promise to
- Create international quality products
- Give customer centric solutions
- Fulfill commitments to society
- Provide value added products to
customers
With this aim
The first plant was
set up in Tarapur in 1980
What followed was
- ISO 9001:2000 accreditation
- Dedicated Export Oriented Unit .
A Perpetual
Organisation
- Focus on market for Surfactants and Specialty
Chemicals for Home and Personal Care segments
- The prime emphasis at Galaxy is on
fundamental research and the creation of new molecules
- Team of highly qualified professionals
,constantly in the process of augmenting the innovative range
- Today, Galaxy has reached the crest of
industry owing to its mastery over the field of specialty chemicals
Present Perfect
Nationally
- Four units at Tarapur
- Two continuous Sulfonation and Drying
plants at Taloja
- 70 products and over 1000 customers
Internationally
- Export to 86 countries
- Asia Pacific Regional Office at
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.44.90 |
|
|
1 |
Rs.72.54 |
|
Euro |
1 |
Rs.63.39 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
60 |
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.