MIRA
INFORM REPORT
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Report Date : |
30.06.2011 |
IDENTIFICATION DETAILS
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Name : |
NYPRO FORBES PRODUCTS PRIVATE LIMITED |
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Registered Office : |
Sub Division Plot No. 52, Sipcot Industrial Complex, Hosur 635126,
Tamilnadu |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
03.08.1995 |
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Com. Reg. No.: |
18-015238 |
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Paid-up Capital : |
Rs. 263.600 Millions |
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CIN No.: [Company
Identification No.] |
U25209TZ1995PTC015238 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Subject is engaged in Custom Injection for Engineering and Medical
Plastic Parts. |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
B (26) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 530000 |
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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 severe pressure. There appears to be huge
accumulated losses recorded by the company. 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.
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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
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Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
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Registered Office / Factory : |
Sub Division Plot No. 52, Sipcot Industrial Complex, Hosur - 635126,
District Krishnagiri, |
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Tel. No.: |
91-4344-279067 / 277084 / 277362 |
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Fax No.: |
91-4344-76021 / 279014 / 276555 |
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E-Mail : |
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Website : |
DIRECTORS
As On 09.07.2010
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Name : |
Mr. Ashok Debabrata Barat |
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Designation : |
Chairman |
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Address : |
Everest House, 3rd Floor, 14, |
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Date of Birth/Age : |
05.12.1956 |
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Date of Appointment : |
13.08.2007 |
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DIN No.: |
00492930 |
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Name : |
Mr. Haravu Lakshmi Narasimha |
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Designation : |
Managing Director |
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Address : |
1053(424), Mangala, 20th A Main, 1st Block,
Rajajinagar, |
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Date of Birth/Age : |
28.06.1956 |
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Date of Appointment : |
13.08.2008 |
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DIN No.: |
00242647 |
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Name : |
Mr. Gautam Mukharji |
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Designation : |
Director |
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Address : |
601-A, Shiv-Smruti-III, Raheja Complex, Balkum, Thane, Mumbai –
400608, |
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Date of Birth/Age : |
18.03.1951 |
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Date of Appointment : |
23.12.2009 |
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Date of Ceasing : |
01.04.2010 |
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Name : |
Mr. James Robert Buonomo |
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Designation : |
Director |
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Address : |
42, |
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Date of Birth/Age : |
09.07.1952 |
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Date of Appointment : |
18.03.1996 |
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DIN No.: |
00479420 |
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Name : |
Mr. Chang Yu Nelson Ngai |
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Designation : |
Director |
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Address : |
Flat D, 2/F, Block – 7, Villa |
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Date of Birth/Age : |
22.12.1958 |
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Date of Appointment : |
13.08.2008 |
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Name : |
Mr. Amit Mittal |
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Designation : |
Director |
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Address : |
Flat No.8, 3rd Floor, Lyndewode House, 9 Bomanji Petit
Road, Mumbai – 400026, |
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Date of Birth/Age : |
05.12.1966 |
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Date of Appointment : |
23.12.2009 |
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DIN No.: |
02292626 |
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Name : |
Mr. Dilip Mahadeo Sangle |
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Designation : |
Director |
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Address : |
3C, Flat No 303, Vaishali Nagar, Jacob Circle, Saat Rasta, Mahalaxmi
East, Mumbai – 400011, Maharashtra, India |
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Date of Birth/Age : |
01.06.1962 |
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Date of Appointment : |
09.07.2010 |
KEY EXECUTIVES
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Name : |
Mr. Jatindra Kumar Panda |
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Designation : |
Secretary |
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Address : |
Plot No. L/43, Baramunda Housing Board Colony, Bhubaneshwar – 751003, |
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Date of Birth/Age : |
26.03.1973 |
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Date of Appointment : |
20.03.2009 |
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Pan No.: |
AWMPP8503B |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As On 09.07.2010
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Names of Shareholders |
No. of Shares |
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Nypro Inc – |
13180000 |
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Forbes Campbell Finance Limited – |
13180000 |
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Total
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26360000 |
As On 15.03.2011
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Names of Shareholders |
No. of Shares |
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Forbes Campbell Finance Limited – |
1150000 |
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Nypro Inc – |
1150000 |
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Total
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2300000 |
As On 09.07.2010
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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 |
50.00 |
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Bodies corporate |
50.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Subject is engaged in Custom Injection for Engineering and Medical
Plastic Parts. |
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Products : |
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PRODUCTION STATUS AS ON 31.03.2009
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Particulars |
Unit |
Actual
Production |
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Bobbins |
Quantity Nos. |
1501508 |
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ELS Handles |
Quantity Nos. |
7074000 |
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Case |
Quantity Nos. |
337085 |
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Cover |
Quantity Nos.` |
267908 |
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Cell phone Charger Covers |
Quantity Nos. |
39989834 |
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Roller Shell |
Quantity Nos. |
10400 |
GENERAL INFORMATION
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No. of Employees : |
Not Available |
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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 : |
Murugesh and Company Chartered Accountant |
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Address : |
Kurpad No 162, 15th Main 35th A Cross, Jayanagar
4th T Block, |
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Tel. No.: |
91-80-22441133/41502469 |
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Fax No.: |
91-80-22441135 |
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E-Mail : |
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Pan No.: |
ADVPM5752D |
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Joint Venture Partner (As ON 31.03.2009) : |
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Associates/Subsidiaries (As ON 31.03.2009) : |
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CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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30000000 |
Equity Shares |
Rs. 10/- each |
Rs.300.000 millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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26360000 |
Equity Shares |
Rs. 10/- each |
Rs.263.600
millions |
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After 09.07.2010
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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34000000 |
Equity Shares |
Rs. 10/- each |
Rs.340.000 millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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33560000 |
Equity Shares |
Rs. 10/- each |
Rs.335.600
millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
263.600 |
167.600 |
107.600 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
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4] (Accumulated Losses) |
(128.998) |
(86.504) |
(16.974) |
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NETWORTH |
134.602 |
81.096 |
90.626 |
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LOAN FUNDS |
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1] Secured Loans |
239.500 |
293.239 |
191.537 |
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2] Unsecured Loans |
15.730 |
21.592 |
7.910 |
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TOTAL BORROWING |
255.230 |
314.831 |
199.447 |
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DEFERRED TAX LIABILITIES |
4.924 |
4.259 |
4.403 |
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TOTAL |
394.756 |
400.186 |
294.476 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
363.245 |
249.887 |
210.709 |
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Capital work-in-progress |
0.000 |
128.475 |
58.591 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
20.664
|
12.014
|
11.121 |
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Sundry Debtors |
62.031
|
66.655
|
36.227 |
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Cash & Bank Balances |
2.655
|
0.060
|
0.088 |
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Other Current Assets |
5.115
|
2.825
|
2.806 |
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Loans & Advances |
54.074
|
47.019
|
16.710 |
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Total
Current Assets |
144.539
|
128.573
|
66.952 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
83.348
|
83.923
|
22.845 |
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Other Current Liabilities |
27.074
|
21.167
|
17.907 |
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Provisions |
2.606
|
1.759
|
1.224 |
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Total
Current Liabilities |
113.028
|
106.849
|
41.976 |
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Net Current Assets |
31.511
|
21.724
|
24.976 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.100 |
0.200 |
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TOTAL |
394.756 |
400.186 |
294.476 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Income |
273.066 |
249.292 |
153.228 |
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Other Income |
8.456 |
0.941 |
1.348 |
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TOTAL (A) |
281.522 |
250.233 |
154.576 |
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Less |
EXPENSES |
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Materials |
169.258 |
172.432 |
86.200 |
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Operating and Other Expenses |
105.866 |
106.615 |
65.342 |
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Prior Period Items |
(0.213) |
0.000 |
0.000 |
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TOTAL (B) |
274.911 |
279.047 |
151.542 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
6.611 |
(28.814) |
3.034 |
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Less |
FINANCIAL
EXPENSES (D) |
15.492 |
11.969 |
7.693 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(8.881) |
(40.783) |
(4.659) |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
32.901 |
28.702 |
17.201 |
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PROFIT BEFORE
TAX (E-F) (G) |
(41.782) |
(69.485) |
(21.860) |
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Less |
TAX (I) |
0.712 |
(0.045) |
(1.549) |
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PROFIT AFTER TAX
(G-I) (J) |
(42.494) |
(69.530) |
(23.409) |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(86.504) |
(16.974) |
6.435 |
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BALANCE CARRIED
TO THE B/S |
(128.998) |
(86.504) |
(16.974) |
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EARNINGS IN
FOREIGN CURRENCY |
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Export Earnings |
3.868 |
6.224 |
4.278 |
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TOTAL EARNINGS |
3.868 |
6.224 |
4.278 |
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IMPORTS |
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Raw Materials |
120.134 |
137.006 |
21.617 |
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Machinery Spares |
1.033 |
0.248 |
0.118 |
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Capital Goods |
22.639 |
51.503 |
68.012 |
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TOTAL IMPORTS |
143.806 |
188.757 |
89.747 |
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Earnings Per
Share (Rs.) |
(1.61) |
(4.15) |
-- |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
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PAT / Total Income |
(%) |
(15.09)
|
(27.79)
|
(15.14) |
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Net Profit Margin (PBT/Sales) |
(%) |
(15.30)
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(27.87)
|
(14.27) |
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Return on Total Assets (PBT/Total Assets} |
(%) |
(8.23)
|
(18.36)
|
(7.87) |
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Return on Investment (ROI) (PBT/Networth) |
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(0.31)
|
(0.86)
|
(0.24) |
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Debt Equity Ratio (Total Liability/Networth) |
|
2.74
|
5.20
|
2.66 |
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Current Ratio (Current Asset/Current Liability) |
|
1.28
|
1.20
|
1.60 |
LOCAL AGENCY FURTHER INFORMATION
Financial and Operational
Performance:
Revenues for
Financial year 2009-10 has increased to Rs.
273.066 Millions, which is 9% more than the previous year 2008-09. Turnover was impacted during the last quarter
of the year due to lower
capacity utilization on account
of drop in customer demand
requirements. Operating profit stood at
Rs. 6.398 millions and Loss
after tax was Rs.42.494 millions.
Operating costs remained flat at about 37%. Depreciation costs increased from Rs. 28.000
Million to Rs. 32.000 Million
due to increase in investments and interest cost rose from Rs. 11.000 Million to Rs 15.000
Million. The company will
continue to focus on efficiency
improvement programme and capacity utilization to enable turnaround of the
company.
Prospects for the
Current Year
The current year would be a year of consolidation. Company has got contract from new
customers who have high volume requirements.
The company is also looking at opportunities in the Healthcare and
Packaging segments which are quite encouraging.
CHANGE OF ADDRESS:
The Registered Address of the company has been shifted from Facit
Avenue, Kandan Chavadi, P.B. 5063, Perungudi, Chennai - 600093, Tamilnadu, India to the present
address i.e. Sub Division Plot No. 52, Sipcot Industrial Complex, Hosur - 635126,
District Krishnagiri, Tamilnadu, India w.e.f. 07.01.2008.
FIXED ASSETS:
- Buildings
- Plant and
Machinery
- Electrical
Installations
- Furniture and
Fixtures
- Office
Equipments
- Computers
- Vehicles
FORM 8:
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Name of the company |
NYPRO FORBES PRODUCTS PRIVATE LIMITED |
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Presented
By |
SK., Noorul Hassan Company Secretary |
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1) Date and description of instrument creating the change |
a) Agreement of
Loan for overall limit b) Agreement of
hypothecation of goods and assets c) letter regarding
the grant of individual limits within the overall limit: and d) Equitable
mortgage by deposit of Title deeds All executed on 4.
01.2002 by the company in favour of State Bank of |
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2) Amount secured by the charge/amount owing on the securities of charge |
Cash credit
facility of Rs.10.000 millions advanced by State Bank to the company together
with interest, additional interest, liquidated damages, premia on pre payment
or on redemption, costs, charges, expenses and all other moneys payable by
the company to State Bank |
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
The company’s
entire goods, movable and other assets such as book debts, outstanding
moneys, receivables, claims, bills, invoices, documents, contracts,
engagements, securities, investments and rights (i.e. hypothecation of stocks
Rs.2.500 millions and hypothecation of Rs.7.500 millions) and further secured
by deposit of title deed of the existing immovable property (more fully
described in the schedule hereunder) of the company |
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4) Gist of the terms and conditions and extent and operation of the charge. |
a) The charge
operates as security as security for the due repayment by the company to State Bank of its Cash
Credit facility of Rs.10.000 millions together with interest, additional
interest, liquidated damage, premia on prepayment or on redemption, costs,
charges, expenses and all other moneys payable by the company to state bank
in terms of the agreements and supplemental agreements. b) The security
created under the said agreement of hypothecation and supplemental agreement
of hypothecation is to be a continuing security. |
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5) Name and Address and description of the person entitled to the charge. |
State Bank of |
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6) Date and brief description of instrument modifying the charge |
a) letter
regarding of the grant of individual limits within the overall limit – in
form C5: b) Supplemental
agreement of hypothecation of goods and assets for increase in the overall
limit – in form C – 2 – A c) hypothecation
of machinery letter: and All the above
agreements were executed on 28.11.2005. d) Form B dated
1.12.2005 extending equitable mortgage on 28.11.2005 |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
Charge was
created by the company in favour of state bank for enhancing the existing credit
facility of Rs.55.000 millions to Rs.132.500 millions with the following new
limits: 1. Term Loan 3 –
Rs.72.500 millions (New ) 2. Existing Term
Loan 1 – Rs.35.000 millions (No change) 3. Existing Term
Loan 2 – Rs.10.000 millions (No change) 4. Cash Credit –
Rs.15.000 millions (Existing Rs.10.000 millions) Terms and
Conditions: 1. For Term Loan
3 : - First charge by
way of equitable mortgage on the entire fixed assets of the company (present
and future.) - Hypothecation on the company’s entire plant
and machinery, except those charged to Forbes Gokak - Hypothecation of the machinery and other
fixed assets proposed to e acquired out of the new TL - Rate of interest: 8.75% p.a at monthly
rests. margin: 29.26% 2. For Cash
Credit: -
Hypothecation
of company’s entire stocks and book debts. -
Margins: -
Raw
Materilas:25% -
Finished
Goods:25% -
Stocks
in process:25% -
Receivables:25%
(Cover period – 90 days) -
Rate
of Interest: 10.25% at monthly rests. 3. Collateral
security for all the above limits: -
Extension
of EM of factory land measuring 3.36 acres and building at the factory
premises in Sy. No. 635, 638, 639 and 654 in Zuzuvadi village in Hosur Taluk,
Dharmapuri Dist., Tamilnadu (in Plot No. 52 (part) in the Sipcot Industrial
Complex at Hosur) belonging to the company -
Extension
of charge on the entire plant and
machinery (primarily charged to Term Loans with outstanding at Rs.23.000
millions) -
Unencumbered
machinery – Rs.22.500 millions (valuation report dated 8.09.2005) |
|
Corporate identity
number of the company |
U25209TZ1995PTC015238 |
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|
Name of the
company |
NYPRO FORBES
PRODUCTS PRIVATE LIMITED |
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|
Address of the
registered office or of the principal place of business in |
Sub Division Plot
No – 52 SIPCOT Industrial Complex Hosur – 635126, Tamil |
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This form is for |
Modification of
charge |
||||||
|
Type of charge |
Immovable
Property Book Debts Movable Property S and R, P and M,
Eqm-52, Sipcot Industrial Complex, Hosur |
||||||
|
Particular of
charge holder |
|
||||||
|
Nature of
instrument creating charge |
Exclusive charge
on all present and future stocks and receivables and exclusive charge on all
present and future plant and machinery and memorandum depositing the title
deeds of the property(plot no.52,sipcot industrial complex, hosur) equitably
mortgaged dated 21.04.2011 for INR 154.000 millions |
||||||
|
Date of
instrument Creating the charge |
21.04.2011 |
||||||
|
Amount secured by
the charge |
Rs. 154.000
Millions |
||||||
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest
- Exclusive Charge on all present and future stocks and Receivables and
Exclusive charge on all present and future Plant and Machinery and Memorandum
Depositing the Title Deeds Of The Property(Plot No.52,Sipcot Industrial
Complex, Hosur) equitably mortgaged dated 21-April-2011 for INR 154 MN Terms of
Repayment – Repayment on demand / as per the terms of repayment for the
facilities Margin - The
Borrower shall maintain such margin as may be specified by the bank from time
to time Extent and
Operation of the charge - In case the borrower fails to fulfill its
obligation under the credit facility, the bank shall be entitled to take
possession of the said hypothecated assets and sell them by public auction or
private contract and utilise the proceeds in full or part settlement of its
claims under the credit facility Others - In
consideration of banking facilities sanctioned/ to be sanctioned by the bank
to the company, the company has charged its Stocks and receivables, plant and
machinery and Mortgaged the Plot no.52, SIPCOT Industrial Complex, Hosur to
secure the repayments of the advance together with interest cost and all
other charges. |
||||||
|
Particulars of the
property charged |
First exclusive
charge by way of Deed of Hypothecation for stocks and Receivables and Plant
and Machinery dated 25.09.2010 for INR 154.000 million Equitable
mortgage of Plot no.52, SIPCOT INDUSTRIAL complex, hosur, mookandapalli and
zuzuvadi village, hosur taluk, Dharmapuri Rvenue District in the sate of TN
dated 21.04.2011 for INR 154.000 millions |
||||||
|
Date of
instrument modifying the charge |
25.09.2010 |
||||||
|
Particulars of
the present modification |
Exclusive charge on
Stocks and receivables, Plant and Machinery including the equitable mortgage
of Plot no.52, SIPCOT Industrial Complex, Hosur for INR 154.000 millions |
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.71.91 |
|
Euro |
1 |
Rs.64.60 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
-- |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
26 |
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.