MIRA
INFORM REPORT
|
Report Date : |
01.03.2011 |
Note: The Correct name of the company is SURYA
VINAYAKA INDUSTRIES LIMITED
IDENTIFICATION DETAILS
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Name : |
SURYA VINAYAKA INDUSTRIES LIMITED (w.e.f. 11.11.2010) |
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Formerly Known
As : |
SURYA VINAYAK INDUSTRIES LIMITED |
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Registered Office : |
E - 3, Mangolpuri Industrial Area, Phase II, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
09.08.1996 |
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Com. Reg. No.: |
55-81106 |
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CIN No.: [Company
Identification No.] |
U74899DL1996PLC081106 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELS23272E |
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PAN No.: [Permanent
Account No.] |
AABCS6369N |
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Legal Form : |
A closely held public limited liability company |
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Line of Business : |
Manufacturer of all types of essential Oils, Perfumery Compounds,
Flavors, Fragrances and Aromatic Chemicals. |
RATING & COMMENTS
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MIRA’s Rating : |
A (63) |
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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 15000000 |
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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 and reputed company having fine track.
Trade relations are fair. Business is active. General financial position is
good. Payments are reported as usually made as per commitments. The company can be considered good for normal business dealings. |
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 : |
E - 3, Mangolpuri Industrial Area, Phase II, |
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Tel. No.: |
91-11-27371293 |
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E-Mail : |
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Factory : |
Zone H-4/5, Plot No. 55, Suvidha Kunj, Pitam Pura, New Delhi – 110
034, India |
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Tel. No.: |
91-11-27033750/ 55178617 |
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Fax No.: |
91-11-27033756 / 27033765 |
DIRECTORS
As on 12.07.2010
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Name : |
Mr. Sanjay Jain |
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Designation : |
Whole-Time Director |
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Address : |
I-42, Ashok Vihar-I, |
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Date of Birth/Age : |
30.05.1964 |
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Date of Appointment : |
15.07.1997 |
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DIN No.: |
00026147 |
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Name : |
Mr. Rajiv Jain |
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Designation : |
Whole Tiem Director |
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Address : |
Flat No. 45 A, Hans Apartment, Sector-13, Rohini, Delhi-110085, |
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Date of Birth/Age : |
25.04.1967 |
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Date of Appointment : |
01.12.2010 |
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DIN No.: |
0084369 |
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Name : |
Mr. Sateesh Jain |
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Designation : |
Whole Time Director |
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Address : |
1/7439, GL-14, |
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Date of Birth/Age : |
29.12.1973 |
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Date of Appointment : |
01.11.2010 |
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DIN NO.: |
00569701 |
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Name : |
Mr. Ramesh Kumar Sareen |
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Designation : |
Director |
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Address : |
3/5, East Patel Nagar, |
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Date of Birth/Age : |
26.09.1944 |
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Date of Appointment : |
20.10.2007 |
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DIN No.: |
00094699 |
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Name : |
Mr. Sanjeev Agarwal |
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Designation : |
Whole Time Director |
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Address : |
Flat No. B-310, Karor C G H.5, Plot No. 39-C, Sector – 6, Dwarka, |
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Date of Birth/Age : |
01.05.1969 |
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Date of Appointment : |
04.09.2002 |
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DIN No.: |
00025998 |
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Name : |
Mr. Rohit Chowdhary |
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Designation : |
Whole Time Director |
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Address : |
BE-17, Shalimar Bag, |
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Date of Birth/Age : |
12.09.1969 |
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Date of Appointment : |
16.03.2004 |
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DIN No.: |
00026031 |
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Name : |
Mr. Gopal Venkata S S Chanduri |
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Designation : |
Whole Time Director |
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Address : |
B-170, Sarita Vihar, |
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Date of Birth/Age : |
15.08.1961 |
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Date of Appointment : |
06.04.2010 |
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Date of Ceasing: |
21.08.2010 |
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DIN No.: |
01221408 |
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Name : |
Mr. Sudhindra Kumar Jain |
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Designation : |
Director |
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Address : |
113/233, Swaroop Nagar, Kanpur-208002, |
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Date of Birth/Age : |
23.05.1956 |
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Date of Appointment : |
01.11.2008 |
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DIN No.: |
00189602 |
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Name : |
Mr. Kamal Kishor Gupta |
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Designation : |
Director |
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Address : |
1372, Kashmiri Gate, Delhi-110006, |
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Date of Birth/Age : |
12.12.1945 |
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Date of Appointment : |
17.12.2009 |
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DIN No.: |
01746444 |
KEY EXECUTIVES
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Name : |
Mr. Raju Singh Tomer |
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Designation : |
Secretary |
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Address : |
B-3/10C, Rama Vihar, Delhi-110081, |
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Date of Birth/Age : |
22.11.1976 |
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Date of Appointment : |
13.05.2009 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 12.07.2010
|
Names of Shareholders |
No. of Shares |
|
Rajiv Jain |
9487271 |
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Sanjay Jain |
16908273 |
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Sanjeev Agarwal |
5 |
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Kamal Kant Sharma |
153 |
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Ramesh Kumar Sareen |
3 |
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Rohit Chowdhary |
2 |
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Surya Vinayak Hospitalities Private Limited, |
5992220 |
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Total |
32387927 |
Equity share
breakup (percentage of total equity)
As on 30.09.2010
|
Category |
Percentage |
|
Bodies corporate |
18.50 |
|
Directors or relatives of directors |
81.50 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of all types of essential Oils, Perfumery Compounds,
Flavors, Fragrances and Aromatic Chemicals. |
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Products : |
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PRODUCTION STATUS AS ON 31.03.2010
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Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
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Essential Oils |
Kgs |
660000 |
40320 |
5260.050 |
|
Perfumery Compounds |
Kgs |
-- |
-- |
149621.000 |
|
Sandal Wood Oil 5ml |
Pcs |
-- |
-- |
1135.000 |
|
Cosmetics Products |
Pcs |
-- |
-- |
4067498.000 |
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Cosmetics Products |
Kgs |
-- |
-- |
350.000 |
GENERAL INFORMATION
|
Bankers : |
·
Canara Bank 74, Janpath, ·
Punjab
National Bank International Banking Branch, ·
State
Bank of ·
YES Bank Limited ·
IDBI Bank Limited ·
State Bank of ·
ICICI Bank Limited, ·
Corporation Bank Industrial Finance Branch,
16/10, 1st Floor, ·
HDFC Bank Limited ·
Kotak Mahindra Bank Limited ·
State Bank of ·
Allahabad Bank, International Branch, 17, |
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Facilities : |
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Banking
Relations : |
- |
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Auditors : |
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Name : |
Agarwal Kamal Kumar and Associates Chartered Accountant |
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Address : |
13-B, IInd Floor, Above Central Bank, Netaji Subhash Marg, |
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Tel. No.: |
91-11-23284459 / 23284460 |
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Enterprises over which key management personnel are able to exercise
significant influence: |
-
Allied Perfumers Private Limited -
Svil Mines Limited -
Sanjay Jain Family Welfare Trust -
J.H. Finvest Private Limited -
Bharat Export Corporation Private Limited -
Surya Vinayak Wellness Limited |
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Subsidiaries : |
·
Grain and More Limited FZE, U.A.E. ·
Svil Agro Pte Limited, ·
Surya Vinayak Agro Farms Limited ·
Surya Vinayak Agro Industries Limited ·
Surya Vinayak Hospitalities Limited ·
Hi End Commodities Pte. Limited , Republic of
Singpaore ·
Rimzim Commodities Limited, ·
Helios Commodities Limited, ·
Allied Commodities FZe (Jebel Ali Free Trade
Zone, U.A.E. |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
32500000 |
Equity Shares |
Rs.10/- each |
Rs.325.000 millions |
Issued, Subscribed Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
32387927 |
Equity Shares |
Rs.10/- each |
Rs.323.879
millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
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 |
323.879 |
323.879 |
323.879 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
3513.102 |
2314.993 |
1641.979 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
3836.981 |
2638.872 |
1965.858 |
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LOAN FUNDS |
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1] Secured Loans |
6875.406 |
3154.075 |
1603.390 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
6875.406 |
3154.075 |
1603.390 |
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DEFERRED TAX LIABILITIES |
39.036 |
37.260 |
38.084 |
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TOTAL |
10751.423 |
5830.207 |
3607.332 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
277.504 |
272.363 |
239.468 |
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Capital work-in-progress |
0.000 |
0.000 |
131.064 |
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INVESTMENT |
70.899 |
53.395 |
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 |
10529.245
|
5227.448 |
3418.295
|
|
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Sundry Debtors |
6576.986
|
3231.201 |
1974.875
|
|
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Cash & Bank Balances |
769.752
|
1072.215 |
685.721
|
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Other Current Assets |
0.000
|
0.000 |
0.000
|
|
|
Loans & Advances |
1379.668
|
3613.528 |
1605.468
|
|
Total
Current Assets |
19255.651
|
13144.392 |
7684.359
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
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Sundry Creditors |
8194.751
|
7016.667 |
3733.994
|
|
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Other Current Liabilities |
164.685
|
483.666 |
533.013
|
|
|
Provisions |
520.165
|
162.650 |
201.965
|
|
Total
Current Liabilities |
8879.601
|
7662.983 |
4468.972
|
|
|
Net Current Assets |
10376.050
|
5481.409 |
3215.387
|
|
|
|
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|
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MISCELLANEOUS EXPENSES |
11.428 |
11.593 |
13.919 |
|
|
|
15.542 |
11.447 |
7.494 |
|
|
|
|
|
|
|
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TOTAL |
10751.423 |
5830.207 |
3607.332 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
|
|
|
|
|
|
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Income |
43188.280 |
22945.142 |
21029.663 |
|
|
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Other Income |
102.612 |
138.337 |
427.243 |
|
|
|
Insurance Claimed on Stock Destroyed |
0.000 |
0.000 |
7.542 |
|
|
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TOTAL (A) |
43290.892 |
23083.479 |
21464.448 |
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Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases |
45255.558 |
22692.855 |
19849.075 |
|
|
|
Excise Duty Paid |
385.108 |
347.477 |
512.793 |
|
|
|
Direct Expenses |
111.683 |
69.555 |
97.709 |
|
|
|
Administrative Expenses |
207.733 |
305.835 |
229.058 |
|
|
|
Preliminary Expenses written off |
0.065 |
0.164 |
0.240 |
|
|
|
Increase/ Decrease in stock |
[5301.797] |
[1809.153] |
[663.788] |
|
|
|
Income/ Expenses pertaining to previous year |
[0.679] |
[0.624] |
1.809 |
|
|
|
Depreciation adjustment due to charge in accounting policy |
0.000 |
0.000 |
[23.641] |
|
|
|
Loss due to fire |
0.000 |
0.000 |
6.197 |
|
|
|
TOTAL (B) |
40657.671 |
21606.109 |
20009.452 |
|
|
|
|
|
|
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2633.221 |
1477.370 |
1454.996 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
895.729 |
611.550 |
431.168 |
|
|
|
|
|
|
|
|
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|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1737.492 |
865.820 |
1023.828 |
|
|
|
|
|
|
|
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|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
21.007 |
26.213 |
24.338 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1716.485 |
839.607 |
999.490 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
518.376 |
166.593d |
206.471 |
|
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|
|
|
|
|
|
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|
PROFIT AFTER TAX
(G-H) (I) |
1198.109 |
673.014 |
793.019 |
|
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|
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|
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EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
6166.200 |
4334.600 |
8060.988 |
|
|
TOTAL EARNINGS |
6166.200 |
4334.600 |
8060.988 |
|
|
|
|
|
|
|
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|
IMPORTS |
|
|
|
|
|
|
|
Traded Goods |
10667.300 |
8863.200 |
NA |
|
|
TOTAL IMPORTS |
10667.300 |
8863.200 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
36.99 |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
|
2.77
|
2.92 |
3.69 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.97
|
3.66 |
4.75 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.79
|
6.26 |
12.61
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.45
|
0.32 |
0.51
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.11
|
4.10 |
3.09
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.17
|
1.72 |
1.72
|
LOCAL AGENCY FURTHER INFORMATION
Note:
The Registered office of the company has been shifted from Zone H-4/5, Plot
No. 55, Suvidha Kunj, Pitam Pura, New Delhi – 110 034, India to present address
w.e.f. 15.09.2007
Future Prospects:
The Indian economy is slowly recovering form the worldwide economies
slowdown form the lat year and registering impressive growth. The economy is
showing healthy singn of recovery and the forecast fort the next year is also
good on account of monetary easing by the banks and financial institutions. The
level of industrial activity is showing upward trend and to take advantage of
the improvement in sentiments and economic conditions all over the world, they
incorporated five more wholly owned subsidiaries in
In today’s global economy, quality indicates the partners of company’s
success. The company’s success in domestic market has been an account of higher level of quality controls and
management which has become the driving force of the business. The ensuring
year ahead will be year of major challenges but he company will have an
exciting future due to this unique range of products.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U74899DL1996PLC081106 |
|
Name of the
company |
SURYA VINAYAK INDUSTRIES LIMITED |
|
Address of the
registered office or of the principal place of business in |
E - 3, Mangolpuri Industrial Area, Phase II, |
|
This form is for |
Creation of
charge |
|
Type of charge |
Immovable
Property Book Debts Movable Property Others |
|
Particular of
charge holder |
Allahabad Bank, International Branch, 17, |
|
Nature of
instrument creating charge |
General Letter of
Hypothecation Term Loan
Agreement Limit Promissoary
Note |
|
Date of
instrument Creating the charge |
14.12.2010 |
|
Amount secured by
the charge |
Rs. 1865.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
·
Rate
of interest For term Loan – BR+ 3.50% p.a. w.m.r and for Cash Credit – BR+4.50%
pa. w.m.r ·
Terms
of repayment On Demand ·
Margin For Term Loan – 30% and for Cash Credit- 25% on fully paid for stocks
and 40% on book- Debts upto 90 Days 0old ·
Extent
and operation of the charge Sanction of Term Loan for purchase of two new properties, one at
Mumbai for Company’s office and another at ·
Others - Cash Credit :
Rs. 650.000 Millions - Cash Credit
(Fresh) (Outside Consortium) : Rs. 50.000 Millions - Pc/FBP/ FBN - (Sub Limit
within cash credit): (Rs. 168.000 Millions) - Term Loan
(fresh) (Outside Consortium): Rs. 655.000 Millions Short Term Loan :
Rs. 500.000 Millions Total Exposures:
Rs. 1865.000 Millions |
|
Short particulars
of the property charged |
First Floor “Neo
Vikram at New Vikram Co-operative Housing Society Limited, Shakar Nagar, New Link,
Andheri (West), Mumbai, Situated at Plot No. 6, 12, 13, Ambivli Village,
Taluka South Salsette, Andheri. Property at
Private No. Anchor-I (At Ground Floor) and Anchor- I (at Upper Ground Floor)
in the TDI Mall, Kundli, Sonepat, Haryana Exclusive hypothecation
of all the furniture, fixtures, fittings, equipments, electricals etc. and
interiors in the mortgaged properties
at Sr. No. (i) and (ii) above Exclusive
hypothecation of stocks of imported Marbles and all the current assets
pertaining to marble trading activity, 2nd Charge over the
properties mortgaged to secure term loan mentioned above. |
|
Corporate
identity number of the company |
U74899DL1996PLC081106 |
|
Name of the
company |
SURYA VINAYAK INDUSTRIES LIMITED |
|
Address of the
registered office or of the principal place of business in |
E - 3, Mangolpuri Industrial Area, Phase II, |
|
This form is for |
Creation of
charge |
|
Type of charge |
·
Immovable
property ·
Other o
Current
Assets |
|
Particular of
charge holder |
Punjab National
Bank International
Banking Branch, |
|
Nature of
instrument creating charge |
·
Hypothecation
of Movable Assets forming part of Fixed / Block Assets ·
Hypothecation
of Current Assets ·
Hypothecation
of Goods and Book debts to secure case credit facility ·
Supplementary
Agreement ·
Letter
of Continuity |
|
Date of
instrument Creating the charge |
10.11.2008 |
|
Amount secured by
the charge |
Rs.30.000 millions
|
|
Brief of the
principal terms an conditions and extent and operation of the charge |
·
Rate
of interest 1.50% per annum over and above BPLR (Minimum of 15% per annum) ·
Terms
of repayment As per Agreement ·
Margin As per Agreement ·
Extent
and operation of the charge First Pari Passu charge over the Fixed Assets (Excluding Land and
Building at |
|
Particulars of
the property charged |
Land and Building
situated at Village Naya Bans, Sampla (Unit – I) Land and Building
situated at Village Naya Bans, Sampla (Unit – III) |
Fixed Assets
·
Land
·
Office Equipment
·
Plant and Machinery
·
Tools and Equipments
·
Vehicle
·
Computers
·
Electric Fitting
·
·
Furniture and Fixtures
·
Office Premises
·
Cycle
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.45.18 |
|
|
1 |
Rs.72.79 |
|
Euro |
1 |
Rs.62.15 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
63 |
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.