MIRA
INFORM REPORT
|
Report Date : |
09.03.2011 |
IDENTIFICATION DETAILS
|
Name : |
THE SIRDAR CARBONIC GAS COMPANY LIMITED |
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|
|
|
Registered
Office : |
Sir Vithaldas Chambers 16, |
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Country : |
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|
Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
12.05.1904 |
|
|
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|
Com. Reg. No.: |
11-000195 |
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|
|
|
CIN No.: [Company Identification
No.] |
L51900MH1904PLC000195 |
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|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
MUMT10719C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACTO173A |
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|
|
|
Legal Form : |
A Public Limited Liability Company. The Company Shares Listed to The
Stock Exchange. |
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|
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|
Line of Business
: |
Manufacturer of Elastic Calendar Bowls, Cotton Spun Laps (Cakes) and
Textile Piece Goods etc. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 970000 |
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|
|
|
Status : |
Satisfactory |
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|
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an old and well established company having satisfactory
track. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitments. 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 DENIDED BY
|
Name : |
Ms. Shilpa |
|
Designation : |
Accounts Department |
|
Date : |
07.03.2011 |
LOCATIONS
|
Registered Office : |
Sir Vithaldas Chambers 16, Apollo Street, Fort, Mumbai-400001,
Maharashtra |
|
Tel. No.: |
91-22-22842595 |
|
Fax No.: |
91-22-22842595 |
|
E-Mail : |
DIRECTORS
As On : 30.09.2010
|
Name : |
Mr. Chandrahas Krishnaraj Thackersey |
|
Designation : |
Chairman |
|
Address : |
151, Silver Arch, 66, L. Jagmohandas Marg, Malbar Hill, Mumbai-400006,
Maharashtra, India |
|
Date of Birth/Age : |
18.10.1948 |
|
Date of Appointment : |
09.02.1994 |
|
DIN No : |
00060108 |
|
|
|
|
Name : |
Mr. Jagdish Udaikant Thackersey |
|
Designation : |
Managing Director |
|
Address : |
36, Silver Arch, A- Block, 66, L. Jagmohandas Marg, Malbar Hill,
Mumbai-400006, Maharashtra, India |
|
Date of Birth/Age : |
04.03.1951 |
|
Date of Appointment : |
29.03.1985 |
|
DIN No : |
00060987 |
|
|
|
|
Name : |
Mr. Khurshed Hormasji Sahiar |
|
Designation : |
Director |
|
Address : |
11, Zenia Abad, Off Little Gibbs Road, Malbar Hill, Mumbai-400006,
Maharashtra, India |
|
Date of Birth/Age : |
05.06.1927 |
|
Date of Appointment : |
17.12.1987 |
|
DIN No : |
01779029 |
|
|
|
|
Name : |
Mr. Jawahir Tricumdas Kapadia |
|
Designation : |
Director |
|
Address : |
37, Laxmi Nivas, Nepean Sea Road, Mumbai-400006, Maharashtra, India |
|
Date of Birth/Age : |
25.11.1930 |
|
Date of Appointment : |
30.01.2002 |
|
DIN No : |
00446116 |
|
|
|
|
Name : |
Mr. Raoul Sudhir Thackersey |
|
Designation : |
Director |
|
Address : |
Flat No.201, Urvashi Building, Malbar Cooperative Housing Society Limited,
63, L. Jagmohandas Marg, Malbar Hill, Mumbai-400006, Maharashtra, India |
|
Date of Birth/Age : |
08.05.1971 |
|
Date of Appointment : |
31.10.2006 |
|
DIN No : |
00332211 |
|
|
|
|
Name : |
Mr. Krishnadas Devidas Vora |
|
Designation : |
Director |
|
Address : |
7B/1, Woodlands, 67, Peddar Road, Mumbai-400026, Maharashtra, India |
|
Date of Birth/Age : |
11.05.1929 |
|
Date of Appointment : |
30.04.2007 |
|
DIN No : |
00883649 |
|
|
|
|
Name : |
Mr. Naresh Ranjitsinh Kara |
|
Designation : |
Director |
|
Address : |
Pallonji Mansion, 43, Cuffe Parade, Colaba, Mumbai-400005,
Maharashtra, India |
|
Date of Birth/Age : |
16.06.1932 |
|
Date of Appointment : |
30.01.2008 |
|
DIN No : |
00061271 |
|
|
|
|
Name : |
Mr. Hrishikesh Jagdish Thackersey |
|
Designation : |
Director |
|
Address : |
31, Silver Arch, A- Block, 66, L. Jagmohandas Marg, Malbar Hill,
Mumbai-400006, Maharashtra, India |
|
Date of Birth/Age : |
20.11.1978 |
|
Date of Appointment : |
23.07.2009 |
|
DIN No : |
00349752 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
PUBLIC FINANCIAL INSTITUTIONS |
|
|
|
National Insurance Company Limited, India |
3000 |
4.25 |
|
Total |
3000 |
4.25 |
|
|
|
|
|
FOREIGN HOLDERS |
|
|
|
Macbeth John Noel |
180 |
0.26 |
|
Macbeth John Nigel |
126 |
0.18 |
|
Payal Anant Sampat |
495 |
0.70 |
|
Total |
801 |
1.14 |
|
|
|
|
|
BODIES CORPORATE |
|
|
|
Czar Reality Private Limited, India |
3529 |
5.00 |
|
Chandrali Investments Private Limited, India |
2704 |
3.83 |
|
Ellora Investments Company Private Limited, India |
1116 |
1.58 |
|
Abhimanyu Investment Private Limited, India |
731 |
1.04 |
|
Hrishikesh Investment Private Limited, India |
618 |
0.88 |
|
Devaunshi Investment Private Limited, India |
454 |
0.64 |
|
Central Bank Execu. Trustees |
123 |
0.17 |
|
Total |
9275 |
13.14 |
|
|
|
|
|
DIRECTORS AND
RELATIVES |
|
|
|
Ameeta Jagdish Thackersey |
2266 |
3.21 |
|
Amit Naresh Kara |
300 |
0.43 |
|
Abhimanyu J Thackersey |
2041 |
2.89 |
|
Abhimanyu J Thackersey |
160 |
0.23 |
|
Bijal Hiren Kara |
1254 |
1.78 |
|
Chandrahas K Thackersey |
6629 |
9.39 |
|
Chandrahas K Thackersey |
569 |
0.81 |
|
Devanshi A Mehta |
63 |
0.09 |
|
Hiren Naresh Kara |
93 |
0.13 |
|
Hiren Naresh Kara |
3720 |
5.27 |
|
Hiren Naresh Kara |
2817 |
3.99 |
|
Hrishikesh J Thackersey |
1900 |
2.69 |
|
Jagdish U Thackersey |
2234 |
3.17 |
|
Jagdish U Thackersey |
2787 |
3.95 |
|
Jagdish U Thackersey |
1942 |
2.75 |
|
Jagdish U Thackersey |
980 |
1.39 |
|
Jagdish U Thackersey |
1350 |
1.91 |
|
Khushaal C Thackersey |
2060 |
2.92 |
|
Leena C Thackersey |
314 |
0.44 |
|
Malti U Thackersey |
203 |
0.29 |
|
Naresh Ranjitsingh Kara |
3210 |
4.55 |
|
Nina Sudhir Thackersey |
443 |
0.63 |
|
Nina Sudhir Thackersey |
2900 |
4.11 |
|
Paulami B Jain |
63 |
0.09 |
|
Raoul S Thackersey |
6821 |
9.66 |
|
Raoul S Thackersey |
825 |
1.17 |
|
Raoul S Thackersey |
1775 |
2.51 |
|
Sudhir K Thackersey |
1072 |
1.52 |
|
Sudhir K Thackersey |
5 |
0.01 |
|
Total |
50796 |
71.98 |
AS ON 30.09.2010
|
Equity Share
Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Public Financial Companies |
|
4.25 |
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
1.13 |
|
Bodies corporate |
|
13.14 |
|
Directors or relatives of directors |
|
71.97 |
|
Other top fifty shareholders |
|
8.61 |
|
Others |
|
0.90 |
|
|
Total
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Elastic Calendar Bowls, Cotton Spun Laps (Cakes) and
Textile Piece Goods etc. |
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Products : |
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PRODUCTION STATUS (As On : 31.03.2010)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Elastic Calendar Bowls |
Nos. |
400 |
400 |
323 |
|
|
|
|
|
|
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged by The Management. |
||||||||||||
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||||||||||||
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Bankers : |
Not Divulged |
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Facilities : |
|
|
|
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Banking
Relations : |
-- |
|
|
|
|
Financial Institution : |
Sicom Limited, Nirmal, 1st Floor, Nariman Paont,
Mumbai-400021, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
H. N. Motiwalla and Company Chartered Accountant |
|
Address : |
508, sharda Chambers, 33 New Marine Lines, Mumbai-400020, Maharashtra,
India |
|
|
|
|
Associates : |
Ř The Hindoostan
spinning and Weaving Mills Limited. Ř Delta
Investments Limited |
CAPITAL STRUCTURE
As On : 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
253000 |
Equity Shares |
Rs. 100/- each |
Rs. 25.300 millions |
|
2500 |
5% Redeemable Cumulative “A” Preference Shares |
Rs. 10/- each |
Rs. 0.025 million |
|
780000 |
15% Non-convertible Preference Shares |
Rs. 10/- each |
Rs. 7.800 millions |
|
237500 |
Unclassified Shares |
Rs. 10/- each |
Rs. 2.375 millions |
|
|
Total |
|
Rs. 35.500
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
70584 |
Equity Shares |
Rs. 100/- each |
Rs. 7.058
millions |
|
|
|
|
|
Note : (Net of 12018 Equity Shares held by erstwhile
subsidiaries after amalgamation)
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 |
7.058 |
8.260 |
8.260 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
236.478 |
204.887 |
200.625 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
243.536 |
213.147 |
208.885 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
16.639 |
26.364 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
32.000 |
|
|
TOTAL BORROWING |
0.000 |
16.639 |
58.364 |
|
|
DEFERRED TAX LIABILITIES |
6.205 |
7.180 |
8.443 |
|
|
|
|
|
|
|
|
TOTAL |
249.741 |
236.966 |
275.692 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
43.417 |
48.780 |
52.799 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
203.623 |
154.763 |
192.363 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
9.630
|
14.647 |
11.647 |
|
|
Sundry Debtors |
0.324
|
5.338 |
8.168 |
|
|
Cash & Bank Balances |
7.743
|
2.999 |
4.948 |
|
|
Other Current Assets |
0.121
|
0.038 |
0.291 |
|
|
Loans & Advances |
16.770
|
38.917 |
38.123 |
|
Total
Current Assets |
34.588
|
61.939 |
63.177 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
8.472
|
9.032 |
13.948 |
|
|
Other Current Liabilities |
15.897
|
14.273 |
12.590 |
|
|
Provisions |
7.518
|
5.211 |
6.109 |
|
Total
Current Liabilities |
31.887
|
28.516 |
32.647 |
|
|
Net Current Assets |
2.701
|
33.423 |
30.530 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
249.741 |
236.966 |
275.692 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
61.394 |
27.828 |
43.401 |
|
|
|
Compensation
from rendering Business Centre Services [Including tax
deducted at source Rs.1.906 millions (Previous Year: Rs.2.781 millions)] |
11.674 |
11.674 |
11.528 |
|
|
|
Lease Rent
Received [Including tax
deducted at source Rs.0.045 million
(Previous Year: Rs.0.042 million)] |
0.400 |
0.359 |
1.774 |
|
|
|
Other Income [Including tax
deducted at source Rs. 0.103 million (Previous Year: Rs 0.145 million)] |
17.167 |
13.176 |
12.417 |
|
|
|
TOTAL (A) |
90.635 |
53.037 |
69.120 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing Expenses |
35.126 |
15.887 |
20.302 |
|
|
|
Employees Remuneration |
12.323 |
6.267 |
7.294 |
|
|
|
Increase/(Decrease) in Finished Goods |
1.610 |
1.226 |
0.799 |
|
|
|
Administrative Selling and Expenses |
19.857 |
13.686 |
16.267 |
|
|
|
TOTAL (B) |
68.916 |
37.066 |
44.662 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
21.719 |
15.971 |
24.458 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.723 |
3.037 |
4.722 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
20.996 |
12.934 |
19.736 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
5.340 |
5.605 |
5.502 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
15.656 |
7.329 |
14.234 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
2.726 |
0.356 |
2.620 |
|
|
|
|
|
|
|
|
|
Add |
(Short)/ Excess
Prevision of Earlier Year |
(0.203) |
0.188 |
0.000 |
|
|
|
|
|
|
|
|
|
Add |
Provision of
Doubtful Debts Written Back |
1.845 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
14.572 |
7.161 |
11.614 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
9.000 |
9.000 |
9.000 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Add |
Profit Transferred Pursuant to The Scheme of Amalgamation |
9.111 |
0.000 |
0.000 |
|
|
|
|
Transfer to General Reserve |
19.568 |
4.262 |
7.749 |
|
|
|
Dividend |
3.529 |
2.478 |
3.304 |
|
|
|
Tax on Dividend |
0.586 |
0.421 |
0.561 |
|
|
BALANCE CARRIED
TO THE B/S |
9.000 |
9.000 |
9.000 |
|
|
|
|
|
|
|
|
|
|
EXPORT VALUE |
7.929 |
4.247 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
4.942 |
6.654 |
NA |
|
|
TOTAL IMPORTS |
4.942 |
6.654 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
183.19 |
84.42 |
140.61 |
|
QUARTERLY RESULTS
(Rs.
In Millions)
|
PARTICULARS |
30.06.2010 |
30.09.2010 |
31.12.2010 |
|
|
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
|
Net Sales |
17.450 |
21.020 |
10.770 |
|
Total Expenditure |
13.210 |
15.520 |
12.100 |
|
PBIDT (Excl OI) |
4.240 |
5.500 |
(1.330) |
|
Other Income |
3.850 |
2.250 |
64.130 |
|
Operating Profit |
8.090 |
7.750 |
62.800 |
|
Interest |
0.000 |
0.000 |
0.000 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
|
PBDT |
8.090 |
7.750 |
62.800 |
|
Depreciation |
1.340 |
1.350 |
1.380 |
|
Profit Before Tax |
6.750 |
6.400 |
61.420 |
|
Tax |
1.810 |
1.870 |
9.670 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
4.930 |
4.530 |
51.750 |
|
Net Profit |
4.930 |
4.530 |
51.750 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
14.08
|
13.50 |
16.80 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
25.50
|
26.34 |
32.80 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
20.07
|
6.62 |
12.27 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06
|
0.03 |
0.07 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.16
|
0.24 |
0.48 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.08
|
2.17 |
1.93 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS
(Rs.
In millions)
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Sundry creditors |
8.472 |
9.032 |
13.948 |
OPERATIONS :
The Directors have
to report that the Company has performed reasonably well. The production during
the year was 323 Bowls at its plant at Arnbernath as against 138 Bowls during
last year. The Company continued its leasing activities as per last year.
The Company
continued to promote its products in the export market which resulted in the
exports rising to Rs.7.929 millions as
against the corresponding figure of Rs.4.246 millions. Presently, the Company's products are marketed to Bangladesh,
Tanzania, Sri
Lanka, Thailand, Nigeria, Korea and Turkey.
The Company has
formed an alliance with MIS NCCM Company LLC (formerly known as "the Mill
Roll Division of 3M," h m USA) to purchase material which will be used to
manufacture rolls for metal industries. The Company has secured trial orders
for mill rolls from few leading companies.
FIXED ASSETS
Ř
Leasehold Land and Buildings
Ř
Factory Buildings
Ř
Plant and Machinery
Ř
Electrical Installations
Ř
Furniture, Fittings and Equipments
Ř
Motor Vehicles
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.45.13 |
|
|
1 |
Rs.73.36 |
|
Euro |
1 |
Rs.63.06 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
49 |
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.