MIRA
INFORM REPORT
|
Report Date : |
12.03.2011 |
IDENTIFICATION DETAILS
|
Name : |
AT AND S INDIA
PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
INDAL ELECTRONICS
LIMITED |
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|
|
Registered Office
: |
12/A, Industrial Area, Nanjangud, Mysore
District – 571301, Karnataka |
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Country : |
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|
|
Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
30.05.1988 |
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|
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Com. Reg. No.: |
08-25863 |
|
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|
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CIN No.: [Company
Identification No.] |
U85110KA1988PTC025863 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
BLRA05803A |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAECA29301 |
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|
|
Legal Form : |
Private Limited
Liability Company |
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|
|
|
Line of
Business : |
Manufacturers of
Printed Circuit Boards |
RATING & COMMENTS
|
MIRA’s Rating
: |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit
Limit : |
USD 3134000 |
|
|
|
|
Status : |
Satisfactory |
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|
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Payment
Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an
established company having satisfactory track. There appears some losses
being incurred by the company continuously in two years. However, networth
appears to be satisfactory. Trade relations are reported as fair. Business is
active. Payments are reported to be usually correct. The company can
be considered normal for business dealings at usual trade terms and
conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY (Partial Details)
|
Name : |
Mr. Venkatesh |
|
Designation : |
Accounts Department |
|
Date : |
06.10.2008 |
LOCATIONS
|
Registered
Office / Factory: |
12/A, Industrial Area, Nanjangud, Mysore
District – 571301, |
|
Tel. No.: |
91-8221-304000 |
|
Fax No.: |
91-8221-228570 |
|
E-Mail : |
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|
Website : |
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|
Area : |
80000 sq.
ft.(Owned) |
|
|
|
|
Branch 1 : |
No. 201, 2nd
Cross, 4th Main, Koramangala, 1st Block, |
|
Tel. No.: |
91-80-51217891 |
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Fax No.: |
91-80-51217895 |
|
E-Mail : |
|
|
Location : |
Rented |
|
|
|
|
Branch 2 : |
Suite No. 1015,
Navrang House, No. 21, Kasturba Gandhi Marg, New Delhi 1, India |
|
Location : |
Rented |
|
|
|
|
Other
Branches: |
Located at:- Ř
Ř
Ř
Ř
Ř
|
DIRECTORS
As on 29.06.2010
|
Name : |
Mr. Suryaprasad
Barandadi Hegde |
|
Designation : |
Managing Director
and Chief Operating Officer |
|
Address : |
Templetrees
Apartments Siddartha Nagar, |
|
Date of Birth
: |
16.06.2006 |
|
Date of
Appointment : |
19.07.2010 |
|
|
|
|
Name : |
Mr. Manfred
Skledar |
|
Designation : |
Director |
|
Address: |
B-307, Brigade Solitaire,
147-17 and 18, Alanahalli Lavput, |
|
Date of
Birth/Age : |
04.03.1958 |
|
Date of
Appointment : |
01.04.2010 |
|
|
|
|
Name : |
Mr. Hamsen
Eilskoy Steen |
|
Designation : |
Director |
|
Address: |
Eduard – Preiffer
Str – 61, Stuitgart – 70192 |
|
Date of
Birth/Age : |
28.10.1958 |
|
Date of
Appointment : |
11.03.2004 |
|
|
|
|
Name : |
Mr. Moitzi Heinz |
|
Designation : |
Director |
|
Address: |
8740, |
|
Date of
Birth/Age : |
05.07.1956 |
|
Date of
Appointment : |
11.03.2004 |
KEY EXECUTIVES
|
Name : |
Mr. MNV Krishna Mohan Kumar |
|
Designation : |
Secretary |
|
Address : |
G-03, Elitei Brigade Apartments, |
|
Date of Birth/Age : |
26.05.1971 |
|
Date of Appointment : |
01.01.2010 |
SHAREHOLDING PATTERN
As on 29.06.2010
|
Names
of Shareholders |
No. of Shares |
|
List of Equity Shareholders |
|
|
|
13362499 |
|
Mr. MNV Krishna
Mohan Kumar |
1 |
|
Total |
13362500 |
|
List of Preferences Shareholders |
|
|
|
2500000 |
|
Total |
2500000 |
Equity Share
Breakup (Percentage of Total Equity)
As on 29.06.2010
|
Category |
Percentage of Holding |
|
Foreign holdings
[Foreign institutional investors, Foreign Companies, Foreign Financial Institutions,
Non-resident Indian or Overseas corporate bodies or others] |
99.99 |
|
Directors
or relatives of directors |
0.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of
Business : |
Manufacturers of
Printed Circuit Boards |
|
|
|
|
Product |
Prinyed Circuit
Boards – 85340001 Its’ products
range includes: - v
Impedance
Control PCB’s v
Blind
via sequential build up & 12 layer sample development v
High
Tg material (170 Tg) v
BT
Epoxy (Trials ongoing) v
Carbon
Printing – Sample developed |
|
|
|
|
Exports: |
|
|
Products : |
Printed Circuit
Boards |
|
Countries : |
·
·
|
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Cash and
Credit |
|
|
|
|
Purchasing : |
L/C, Cash and
Credit |
GENERAL INFORMATION
|
Suppliers : |
Ř
Dupont
( Ř
Ř
Ř
Ř
Ř
Ř
Mega
Tools, Ř
Ř
Ř
Ř
Siemens
Information Systems Limited, Ř
Ř
Ř
Ř
BT
Solders Private Limited, |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Customers : |
End users Ř
RAF, Ř
ERG
Communications, Ř
Ř
Ř
E –
Mail Ř
Analog
Devices, Ř
Ř
Ericsson
Radio Access, Ř
Nokia
Networks, Sweden/India Ř
Motorola,
USA/Singapore/India Ř
Siemens
A&D Division, Berlin/Hamburg, Ř
Ř
Ř
Department
of Electronics, Government of |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
No. of
Employees : |
800
(Approximately) |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Bankers : |
Ř
Punjab
National Bank, Ř
Deutsche
Bank AG, |
||||||||||||||||||||||||||||||
|
Facilities : |
Note : Secured by way of a hypothecation of inventories and book debts and a
second charge on fixed assets.
Note : Guaranteed by AT and S, |
|
|
|
|
Banking Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name: |
Price Waterhouse and
Company Chartered
Accountants |
|
Address: |
5th
Floor, Tower D, The Millenia, 1 and 2 Murphy Road, Ulsoor, Bangalore –
560008, Karnataka, India |
|
|
|
|
Associates : |
Ř
Indal
Exports Limited Ř
AT
and S Group, |
|
|
|
|
Subsidiaries : |
Ř
AT and S Asia Pacific Limited, Ř
AT
and S Asia Pacific Limited, |
|
|
|
|
Holding
Company |
Ř
Fabriksgasse 13 487,Leoben – Ř
AT
and S AG, Ř
AT and S Austria Technologie and Systemtechnik
AG, |
CAPITAL STRUCTURE
As on
29.06.2010
Authorised
Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
15,000,000 |
Equity Shares |
Rs.10/- each |
Rs.150.000 Millions |
|
2,500,000 |
1% Cumulative
Redeemable Preference Shares |
Rs.100/- each |
Rs.250.000 Millions |
|
|
TOTAL |
|
Rs.400.000
millions |
Issued,
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
13,362,500 |
Equity Shares |
Rs.10/- each |
Rs.133.625 Millions |
|
2,500,000 |
1% Cumulative
Redeemable Preference Shares |
Rs.100/- each |
Rs.250.000 Millions |
|
|
TOTAL |
|
Rs.383.625
millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE SHEET
|
SOURCES
OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS
FUNDS |
|
|
|
|
|
1] Share Capital |
383.625 |
383.625 |
383.625 |
|
|
2] Share
Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves &
Surplus |
399.959 |
459.918 |
516.653 |
|
|
4] (Accumulated
Losses) |
0.000 |
0.000 |
0.000 |
|
NETWORTH
|
783.584 |
843.543 |
900.278 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
5.337 |
0.000 |
45.763 |
|
|
2] Unsecured
Loans |
702.283 |
572.192 |
239.572 |
|
TOTAL BORROWING
|
707.620 |
572.192 |
285.335 |
|
|
DEFERRED TAX
LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
TOTAL
|
1491.204 |
1415.735 |
1185.613 |
|
|
|
|
|
|
|
APPLICATION OF FUNDS
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block]
|
903.812 |
606.781 |
682.247 |
|
Capital work-in-progress
|
203.836 |
216.513 |
5.272 |
|
|
|
|
|
|
|
INVESTMENT
|
0.385 |
0.385 |
1.362 |
|
DEFERREX TAX ASSETS
|
0.000 |
44.652 |
27.776 |
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES
|
|
|
|
|
|
|
Inventories
|
293.819 |
256.370 |
341.593 |
|
|
Sundry Debtors
|
68.681 |
120.215 |
189.763 |
|
|
Cash & Bank Balances
|
136.990 |
145.200 |
103.573 |
|
|
Other Current Assets
|
11.016 |
2.850 |
1.479 |
|
|
Loans & Advances
|
412.237 |
318.815 |
364.009 |
Total Current Assets
|
922.743
|
843.450
|
1000.417
|
|
Less : CURRENT LIABILITIES & PROVISIONS
|
|
|
|
|
|
|
Sundry Creditors
|
306.690 |
145.697 |
|
|
|
Other Current Liabilities
|
194.896 |
106.051 |
462.122 |
|
|
Provisions
|
37.986 |
44.298 |
69.339 |
Total Current Liabilities
|
539.572
|
296.046
|
531.461
|
|
Net Current Assets
|
383.171 |
547.404 |
468.956 |
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES
|
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
TOTAL
|
1491.204 |
1415.735 |
1185.613 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1593.176 |
1806.254 |
1935.630 |
|
|
|
Other Income |
241.917 |
156.721 |
234.290 |
|
|
|
TOTAL (A) |
1835.093 |
1962.975 |
2169.920 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials |
929.699 |
1004.373 |
1121.073 |
|
|
|
Manufacturing and Other Expenses |
718.430 |
856.359 |
718.066 |
|
|
|
TOTAL (B) |
1648.129 |
1860.732 |
1839.139 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
186.964 |
102.243 |
330.781 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
37.241 |
23.404 |
28.534 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
149.723 |
78.839 |
302.247 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
147.640 |
148.376 |
188.093 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
2.083 |
(69.537) |
114.154 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
59.117 |
(15.727) |
19.261 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
(57.034) |
(53.810) |
94.893 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
281.108 |
337.843 |
299.685 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Preference Dividend |
2.500 |
2.500 |
2.500 |
|
|
|
Tax on Dividend |
0.425 |
0.425 |
0.425 |
|
|
BALANCE CARRIED
TO THE B/S |
221.149 |
281.108 |
391.653 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
666.430 |
593.407 |
|
|
|
Stores & Spares |
NA |
45.962 |
31.214 |
|
|
|
Capital Goods |
NA |
96.651 |
77.764 |
|
|
TOTAL IMPORTS |
NA |
809.043 |
702.385 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(4.49) |
(4.25) |
6.88 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
PAT / Total Income
|
(%)
|
(3.11) |
(2.74) |
4.37 |
|
|
|
|
|
|
Net Profit Margin
(PBT/Sales) |
(%) |
0.13 |
(3.85) |
5.90 |
|
|
|
|
|
|
Return on Total Assets
(PBT/Total
Assets} |
(%) |
0.11 |
(4.79) |
6.78 |
|
|
|
|
|
|
Return on Investment (ROI)
(PBT/Networth) |
|
0.00 |
(0.08) |
0.13 |
|
|
|
|
|
|
Debt Equity Ratio
(Total
Liability/Networth) |
|
1.59 |
1.03 |
0.91 |
|
|
|
|
|
|
Current Ratio
(Current
Asset/Current Liability) |
|
1.71 |
2.85 |
1.88 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS :
(Rs.
in Millions)
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Sundry Creditors : |
|
|
|
|
Micro Enterprises and Small Enterprises |
0.409 |
0.012 |
NA |
|
Others |
306.281 |
145.685 |
NA |
|
Total |
306.690 |
145.697 |
NA |
OPERATIONS :
The revenue decreased by 6.51%
compared to the last year. The volume registered a slight decrease of 2.34% from
181,787 Sq. mts. of PCBs in 2008-09 to 177,535 Sq. mts. in 2009-10. PBIT has
increased from Rs. 102 Million to Rs. 187 Million during the year. The company
has registered a net loss (Profit after Tax) of Rs. 57 million as against a net
loss of Rs. 54 million in the year 2008-09.
HISTORY:
Subject was
incorporated on 30th May, 1988 at Kolkata in
Subject was
originally incorporated under the name & style of Infobase Systems Private
Limited. It became a Deemed Public Limited Company w.e.f. 15th May,
1990 and changed its name to Infobase Finance Limited w.e.f. 18th
February, 1993. The company further changed its name to Indal Electronics
Limited w.e.f. 18th July, 1996 and then to the present w.e.f. 1st
April, 1999.
The company shifted
its Registered office from Kolkata in
West Bengal to
Name Changed to the
present from 1st April 1999, as a consequence of change in ownership
from the Indian Aluminium Company Limited; Kolkata (Indal), to Austria
Technologies and Systemtechnik AG;
Business
Subject is engaged in
the business as manufacturers, exporters and marketers of Printed Circuit
Boards, Software Development, IT solutions, Research and Development, etc.
It is also engaged
in software development and providing IT solutions.
Certification
The company has
been accredited with:
·
ISO
9002 From 1993 From: BSIQA;
·
ISO
14001 From 1996 From: Aspects,
A Joint Team of
ELCINA (Electronic Component Industries Association), Commonwealth Science
Council, UK and Rajiv Gandhi Foundations have chosen the company as one of the
five model plants in India as Technology leaders on Environment Management in
Electronics & IT sectors.
It has absorbed
technology from AMP-AKZO INC,
It is in trade
terms with:
Trade References:
·
Siemens
·
Hello Limited
·
Nokia
Fixed Assets
Ř
Ř
Buildings
Ř
Plant
& Machinery
Ř
Computers
And Office Equipments
Ř
Furniture
& Fixtures
Ř
Motor
Vehicles
Bankers Charges Report as per Registry
|
This form is for |
Modification of
charge |
|
Corporate
identity number of the company |
U85110KA1988PTC025863 |
|
Name of the
company |
AT AND S INDIA
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
12/A, Industrial
Area, Nanjangud – 571301, Mysore District, Karnataka |
|
Type of charge |
Movable Property Book Debts Floating Charge |
|
Particular of
charge holder |
Punjab National
Bank, |
|
Nature of
description of the instrument creating or modifying the charge |
Agreement
Hypothecation of Movables Assets Forming Part of Specific Fixed/Block Assets |
|
Date of
instrument Creating the charge |
20.02.2009 |
|
Amount secured by
the charge |
Rs. 210.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As may be
prescribed by the bank from time to time Terms of
repayment Working capital
limits Repayable on demand Margin CC ( H ) - 25% ( Spares - 50%) PC/PCFC - 25% Export Bills /
DD/BD/(LC) / DD /ILC/FLC / BG – NIL Extent operation
of the charge The charge shall
operate to the extent of Rs.210.000 Millions plus interest, commission, costs,
expenses and other charges thereon. Others The said amount
of Rs.210.000 millions comprises Fund Based
Rs.160.000 millions; Non Fund Based ILC/FLC of Rs.50.000 millions; |
|
Short particulars
of the property charged |
Hypothecation by
way of first charge on all current assets including stock of raw materials
such as glass epoxy, copper clad laminates, glass epoxy prepregs , copper
foils, Cooling oil, photo resist, book
debts and current assets present and future and second charge on specific
movable fixed assets as detailed in schedule attached to the hyp. agreement
and those to be acquired in future stored/installed at NO.12/A , Industrial
Area, Nanjanagudu -
571301 or at any other place |
|
Particulars of the present
modification |
By the above, the
amount secured by charge stands enhanced
from Rs.160.000 millions to Rs.210.000 millions and the same is
additionally secured by second charge
on specific movable fixed assets of the company and continuing security
of first charge on current assets of
the company. (All other terms
and conditions remain unchanged) |
As Per Web Details:
Subject already is
the largest producer of printed circuit boards in
The Nanjangud printed circuit boards are used predominantly in the areas of
industrial and medical technology, and in the automotive industry as well. The
location can be expanded as required.
In July 2005
subject acquired the Indian company ECAD (located in
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.45.21 |
|
|
1 |
Rs.72.55 |
|
Euro |
1 |
Rs.62.43 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
46 |
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.