MIRA
INFORM REPORT
|
Report Date : |
23.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
LANDIS GYR LIMITED |
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Registered
Office : |
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Country : |
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Financials (as
on) : |
31.12.2009 |
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Date of
Incorporation : |
08.09.1992 |
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Com. Reg. No.: |
21-56554 |
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Capital Investment
/ Paid-up Capital : |
Rs.320.000 millions |
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CIN No.: [Company Identification
No.] |
U31200WB1992PLC056554 |
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Legal Form : |
A Closely Held
Public Limited Liability Company |
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Line of Business
: |
Manufacturer, Exporter
and Importer of Meters, Relays and Control Panels |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 1800000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Profitability
of the company appears to be under pressure. However, trade relations are
reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with some
caution. |
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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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.: |
91-33-24670007 / 7087
/ 7226 / 7259 / 8455/ 5544 / 7726 |
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Fax No.: |
91-33-24671473 / 24677400 |
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E-Mail : |
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Area : |
45000 Sq. ft |
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Location : |
Leased |
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Corporate Office : |
Corp Off J K Millennium Centre, 3rd Floor, |
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Tel. No.: |
91-33-30515900-04 / 30515915 (Direct Line) |
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Fax No.: |
91-33-30515905 |
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E-Mail : |
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Factory : |
B – 52, Sector 60 Noida, |
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Tel. No.: |
91-120-2586588 |
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Fax No.: |
91-120-2589074 |
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Noida – Sales
Office North : |
C-48, Sector 57, Noida - 201301, |
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Tel. No.: |
91-120 3352000 / 3352169 (Direct Line) |
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Fax No.: |
91-120 3352001 |
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E-Mail : |
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Karnataka – Sales Office South : |
No. 1702 (Old No. 158), Ground Floor, III Block, 9th |
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Tel. No.: |
91-80-26638345 / 26638346 |
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Fax No.: |
91-80-26638347 |
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E-Mail : |
DIRECTORS
As on 24.06.2010
|
Name : |
Mr. Rajesh Kochhar |
|
Designation : |
Whole Time Director |
|
Address : |
SN 46/1/346/1/2 CL, Oud 9 Kondhawa Khurd NIBM, Pune – 411048, |
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Date of Birth/Age : |
10.12.1957 |
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Date of Appointment : |
31.01.2009 |
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Date of Ceasing : |
10.11.2009 |
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DIN No. : |
02627193 |
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Name : |
Mr. Amitava Chatterjee |
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Designation : |
Director |
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Address : |
58, |
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Date of Birth/Age : |
10.09.1952 |
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Date of Appointment : |
29.04.2009 |
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Date of Ceasing : |
10.11.2009 |
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DIN No. : |
00007255 |
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Name : |
Mr. Biswajyoti Lahiri |
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Designation : |
Director |
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Address : |
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Date of Birth/Age : |
02.07.1961 |
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Date of Appointment : |
21.06.2007 |
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DIN No. : |
02140115 |
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Name : |
Mr. Jonathan Hugh Stretch |
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Designation : |
Additional Director |
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Address : |
22, Bradleys, |
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Date of Birth/Age : |
17.10.1963 |
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Date of Ceasing : |
17.08.2010 |
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DIN No. : |
02255833 |
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Name : |
Mr. Oliver Bernd Iltisberger |
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Designation : |
Additional Director |
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Address : |
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Date of Birth/Age : |
27.06.1971 |
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Date of Appointment : |
22.04.2010 |
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DIN No. : |
03225116 |
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Name : |
Mr. Sandip Kumar Mukherjee |
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Designation : |
Whole Time Director |
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DIN No. : |
02914334 |
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Name : |
Mr. Joerg Ludwig Prazybyla |
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Designation : |
Additional Director |
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Address : |
Frueebueel, Walchill – 6318, |
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Date of Appointment : |
19.06.2008 |
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DIN No. : |
02258846 |
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Name : |
Mr. S. Tretch |
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Designation : |
Director |
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Name : |
Mr. M Ukherj |
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Designation : |
Whole Time Director |
KEY EXECUTIVES
|
Name : |
Mr. Prasenjit Datta |
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Designation : |
Secretary |
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PAN No. : |
ADNPD3686C |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 24.06.2010
|
Names of Shareholders |
|
No. of Shares |
|
Landis + GYR Agreement – |
|
31999610 |
|
Andreas Umbach |
|
110 |
|
Sandip Mukherjee |
|
50 |
As on 24.06.2010
|
Equity Share Breakup |
|
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] |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer,
Exporter and Importer of Meters, Relays and Control Panels |
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Products : |
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PRODUCTION STATUS AS ON 31.12.2009
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Meters |
Nos. |
1500000 |
1500000 |
630334 |
|
Static Meters * |
Nos. |
3050000 |
2850000 |
1187466 |
|
Relays |
Nos. |
30000 |
-- |
-- |
|
Control Panel |
Nos. |
600 |
-- |
-- |
* Includes Static Meters at Joka Plant with effect from 15th
December, 2009
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
·
State Bank of Industrial Finance Branch, 11, ·
Axis Bank Limited Credit Management Centre (CMC), 1,
Shakespeare Sarani, AC Market, 3rd Floor, Kolkata – 700 071, West |
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Facilities : |
Note Cash credit from banks are secured by first charge on fixed assets at
Joka and by hypothecation of stocks, book debts and other movable assets
ranking pari-passu amongst the banks |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountant |
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Address : |
Bengal Intelligent Park, Building Alpha, 1st Floor, Block –
EP and GP, Sector V |
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Tel. No.: |
91-33-66171000 |
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Fax No.: |
91-33-66171001 |
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Holding Company : |
Landis + Gyr AG |
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Ultimate Holding Company : |
Bayard Group P/Letter, |
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Fellow Subsidiaries : |
·
Landis+Gyr A.G., ·
Landis+Gyr Pty Limited,
·
Landis+ ·
Landis+Gyr (PTY)
Limited, ·
Landis+Gyr Inc. ·
Landis+Gyr Equipments
de Medicao Limited, ·
Landis+Gyr Meters and Systems
(Zhuhai) Company Limited, ·
Landis+Gyr Pte Limited,
·
Cellnet Technology,
Inc. ( ·
Ampy Metering Limited, ·
Landis+ ·
Landis+Gyr Fortune
Company Limited, ·
Landis+Gyr Group, LLC ·
Landis+Gyr Oy ·
Landis+Gyr Investments
AG ·
Hunt Technologies ·
Landis+Gyr ·
Landis+Gyr Ag ·
Landis+ ·
Landis+Gyr SA ·
Landis+ ·
Landis+Gyr SAS France ·
Landis+Gyr SpA ·
Landis+ ·
Landis+ ·
Landis+ ·
Landis+Gyr SAU ·
Cellnet Group, Inc. ·
Ampy Holdings Limited, ·
Landis+Gyr Holdings
(US), Inc. ·
Landis+Gyr Investor
Relations, Inc. ·
Landis+Gyr Canada, Inc.
·
Generis Technology Holdings
(2) Limited, ·
Generis Technology
Holdings Limited, ·
Generis Technology
Limited, ·
Landis+Gyr Limited, ·
Energy Response Holding
Pty Limited, |
CAPITAL STRUCTURE
As on 24.06.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
48000000 |
Equity Shares |
Rs.10/- each |
Rs.480.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
45740000 |
Equity Shares |
Rs.10/- each |
Rs.457.400
millions |
As on 31.12.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
32000000 |
Equity Shares |
Rs.10/- each |
Rs.320.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
32000000 |
Equity Shares |
Rs.10/- each |
Rs.320.000
millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2009 |
31.12.2008 |
31.12.2007 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
320.000 |
320.000 |
320.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
119.899 |
197.273 |
216.007 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
439.899 |
517.273 |
536.007 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
66.501 |
51.536 |
42.693 |
|
|
2] Unsecured Loans |
97.854 |
69.893 |
0.000 |
|
|
TOTAL BORROWING |
164.355 |
121.429 |
42.693 |
|
|
DEFERRED TAX LIABILITIES |
37.670 |
37.410 |
31.124 |
|
|
DEFERRED GOVERNMENT GRANTS |
6.420 |
6.891 |
4.842 |
|
|
|
|
|
|
|
|
TOTAL |
648.344 |
683.003 |
614.666 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
469.237 |
469.618 |
467.441 |
|
|
Capital work-in-progress |
9.209 |
0.163 |
0.077 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
149.773
|
167.923 |
164.090 |
|
|
Sundry Debtors |
566.527
|
538.129 |
352.830 |
|
|
Cash & Bank Balances |
14.149
|
16.129 |
42.313 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
169.637
|
142.570 |
87.972 |
|
Total
Current Assets |
900.086
|
864.751 |
647.205 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
644.630
|
573.629 |
430.618 |
|
|
Other Current Liabilities |
49.200
|
43.915 |
46.285 |
|
|
Provisions |
36.358
|
33.985 |
23.154 |
|
Total
Current Liabilities |
730.188
|
651.529 |
500.057 |
|
|
Net Current Assets |
169.898
|
213.222 |
147.148 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
648.344 |
683.003 |
614.666 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.12.2009 |
31.12.2008 |
31.12.2007 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1904.393 |
1705.314 |
1119.524 |
|
|
|
Other Income |
18.963 |
13.637 |
16.878 |
|
|
|
TOTAL (A) |
1923.356 |
1718.951 |
1136.402 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Material Consumed |
1305.678 |
1026.862 |
640.193 |
|
|
|
Purchase of Finished Goods for re-sale |
0.751 |
127.259 |
95.890 |
|
|
|
Personnel Costs |
221.016 |
185.876 |
127.437 |
|
|
|
Other Costs |
364.358 |
317.093 |
221.011 |
|
|
|
(Increase)/decrease in Inventories |
27.828 |
0.980 |
(13.939) |
|
|
|
TOTAL (B) |
1919.631 |
1658.070 |
1070.592 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
3.725 |
60.881 |
65.810 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST |
22.867 |
21.914 |
6.632 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(19.142) |
38.967 |
59.178 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
54.654 |
49.684 |
48.978 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
(73.796) |
(10.717) |
10.200 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
3.578 |
8.017 |
2.027 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
(77.374) |
(18.734) |
8.173 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
189.688 |
208.422 |
200.249 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
112.314 |
189.688 |
208.422 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(2.42) |
(0.59) |
0.26 |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2009 |
31.12.2008 |
31.12.2007 |
|
PAT / Total Income |
(%) |
(4.02)
|
(1.09) |
0.72 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(3.88)
|
(0.63) |
0.91 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(5.39)
|
(0.80) |
0.92 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.17)
|
(0.02) |
0.02 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.03
|
1.49 |
1.01 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.23
|
1.33 |
1.29 |
LOCAL AGENCY FURTHER INFORMATION
CONTINGENT
LIABILITIES :
|
Particulars |
31.12.2009 Rs.
in millions |
31.12.2008 Rs.
in millions |
|
Bank Guarantee Outstanding |
121.829 |
100.937 |
|
Letter of Credit |
11.608 |
9.576 |
|
Claims against the Company not acknowledged as debts : |
|
|
|
Claims by an ex-employee for reinstatement |
2.090 |
2.090 |
|
Claims relating to ESIC matters |
0.336 |
0.336 |
|
Income Tax matters |
11.224 |
10.442 |
|
Service Tax matters |
24.616 |
8.554 |
|
Sales Tax matters |
33.892 |
9.865 |
|
Excise Duty matters |
2.609 |
2.211 |
|
Total |
208.204 |
144.011 |
PERFORMANCE DURING
2009
During the year
ended 31st December’09 Company’s topline improved with a Turnover of INR 1,904 Mio
compared to INR 1705 Mio for the previous year ended 31st December, 2008
thereby registering an impressive growth of 12%.
During the year
Company established itself as a major player in the Indian static meter market
and achieved a sale of 1.13 million meters. Despite a shrinking market for it’s
Electro- mechanical product, Company sold 690 k Electro- mechanical meters
which included export of 131 k meters as against the sale of 1.40 million
meters during the year ended 31st Dec’08.
Steep increase in
prices of imported components due to depreciation of the Indian rupee against
the US Dollar affected the profitability of the Company. During the year
Company also invested heavily in people, process and technology to prepare
itself for future profitable growth. Consequently, Company made a loss a during
the year.
NEW PROJECTS
To augment it’s
static meter capacity, improve service to customers in the eastern part of the
country and optimize use of existing infrastructure, Company set up a static
meter facility at it’s works during the year. The static meter facility at Joka
commenced commercial production and supply during the year.
Company also
launched projects to indigenously develop a single phase and new 3 phase whole
current meter projects to meet the specific requirements of the Indian market.
The products are scheduled for commercial launch in the second half of 2010.
FUTURE PROSPECTS
The Company’s
electromechanical business will continue to be under pressure due to rapid
shift in demand towards static meters. Through continuous focus on quality,
cost and delivery, the Company would strive to retain a share of the fast
shrinking market..
The Company’s
electronic business looks extremely promising with growing demand for both
single phase and poly phase meters. Company’s Development centre at Noida has
strengthened during the year and is now focusing on introduction of new
products to widen it’s offering for the Indian market and making the best use
of the latest technology available within the Group.
Indian economy was
one of the fastest to recover it’s growth path post the global economic
slowdown and is now poised for healthy growth in the current year. Favourable
macro economic environment coupled with strategic focus of the Ministry of
Power in absorbing latest energy management technology makes the Directors
confident about the future of the Company. With a wide range of technology
available in the Group Company is well poised for sustained profitable growth.
FORM 8
|
Corporate identity
number of the company |
U31200WB1992PTC056554 |
|
Name of the
company |
LANDIS GYR LIMITED |
|
Address of the
registered office or of the principal place of business in |
|
|
This form is for |
Creation of
charge |
|
Type of charge |
Immovable
property |
|
Particular of
charge holder |
State Bank of |
|
Nature of
instrument creating charge |
Memorandum of
Deposit for creation of charge for overall limit (C. 9) |
|
Date of
instrument Creating the charge |
16.06.2010 |
|
Amount secured by
the charge |
Rs. 520.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest
- For SBI CC@2% above SBAR at monthly rests. For SBI LC and
BG, Comm – At SBI’s standard rates For ABL CC @ 2@
below BPLR payable at monthly rests For ABL BG, Comm
at par with SBI Terms of
Repayment – the borrowings are repayable on demand. The loan is for
working capital only which is repayable on demand according to banking norms. Margin - as
stipulated by the individual bank for the respective asset from time to time,
presently no margin stipulated. Extent and
Operation of the charge – the charge of Rs. 520.000 millions shall rank pari
passu first charge as a continuing security on the whole of the mortgaged
properities with the joint mortgagees (lenders) for the amount of (FB+NFB) WC
limit Rs. 325.000 millions of state bank of india (SBI) and Rs. 195.000
millions of Axis Bank Limited (ABL) without any preference or priority of one
over the other. |
|
Particulars of the
property charged |
Land 1800
sq.meters, industrial plot no. 114A in Bhumi Khasra #2036/1785/5, 2037/1785/5
and Bhumi Khasra # 2038/1785/5 situated at village Lease deed dated
01.06.2007 vide registration no. 1058/2007. Located at :
village |
FIXED ASSETS
·
Free hold land
·
Buildings
·
Plant and machinery
·
Furniture, fittings and office equipment
·
Vehicles
·
Goodwill
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.44.82 |
|
|
1 |
Rs.72.84 |
|
Euro |
1 |
Rs.64.58 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
32 |
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.