MIRA
INFORM REPORT
|
Report Date : |
18.03.2011 |
IDENTIFICATION DETAILS
|
Name : |
ORGANIC COATINGS LIMITED |
|
|
|
|
Registered
Office : |
Plot No. 31, Vimal Pushpa, Tarun Bharat Society, Chakala, Andheri
(East), Mumbai-400 099, Maharasahtra |
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Country : |
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|
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Financials (as
on) : |
31.03.2010 |
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|
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Date of
Incorporation : |
22.04.1965 |
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|
Com. Reg. No.: |
11-13187 |
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|
|
CIN No.: [Company Identification
No.] |
L24220MH1965PLC013187 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUM002817D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAAC00099A |
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|
|
Legal Form : |
It is a public
limited liability company. The company’s shares are listed on the Stock
Exchanges. |
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Line of Business
: |
Manufacturer of Printing Inks and Allied Product. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 660000 |
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|
|
|
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 old and established company having satisfactory track.
Trade relations are reported as fair. Business is active. Payments are
reported to be usually correct 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 |
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Restricted |
C2 |
|
Off-credit |
D |
INFORMATION DECLINED BY
Management Non Co- operative
LOCATIONS
|
Registered Office : |
Plot No. 31, Vimal Pushpa, Tarun Bharat Society, Chakala, Andheri
(East), Mumbai-400 099, |
|
Tel. No.: |
91-22-28344503/32964271 |
|
Fax No.: |
91-22-28363422 |
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E-Mail : |
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Website : |
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|
|
|
Works: |
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Tel. No.: |
91-22-29452200/299 |
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Fax No.: |
91-22-28454119 |
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|
|
|
|
Room No.203, 50 Community Centre, Nariana Industrial Area, Phase-I, New
Delhi-110 028, |
|
Tel. No.: |
91-11-65423117 |
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Fax No.: |
91-11-25893139 |
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E-Mail : |
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|
40, Community Centre, Nariana Industrial Area, Phase-I, New Delhi-110
028, |
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Tel No.: |
91-11-32563730 |
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|
Kolkata Office: |
192/B, |
|
Tel No.: |
91-33-24669227 |
DIRECTORS
As on 27.09.2010
|
Name : |
Mr. Shah Kodarlal Rajnikant |
|
Designation : |
Vice Chairman & Managing Director |
|
Address : |
Plot No. 31, Vimal Pushp, Tarun Bharat Society, Chakala, Andheri
(East), Mumbai – 400 099, |
|
Date of Birth/Age : |
26.06.1935 |
|
Date of Appointment : |
22.04.1965 |
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|
|
|
Name : |
Mr. Shah Rajnikant Abhay |
|
Designation : |
Joint Managing Director |
|
Address : |
Park View, 2nd Floor, Flat No. 204, Near Sathaye College, Park Road, Mumbai
– 400 057, |
|
Date of Birth/Age : |
13.07.1966 |
|
Date of Appointment : |
01.10.1994 |
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|
|
|
Name : |
Mr. Shah Rajnikant Ajay |
|
Designation : |
Wholetime Director |
|
Address : |
Plot No. 31, Vimal Pushp, Tarun Bharat Society, Chakala, Andheri
(East), Mumbai – 400 099, |
|
Date of Birth/Age : |
21.04.1968 |
|
Date of Appointment : |
01.08.1998 |
|
|
|
|
Name : |
Mr. Mehta Vasantlal Manoj |
|
Designation : |
Wholetime Director |
|
Address : |
A/101, Bhagirathi Niwas, Near |
|
Date of Birth/Age : |
12.12.1960 |
|
Date of Appointment : |
01.10.1994 |
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|
|
|
Name : |
Mr. Pratap Chhaganlal Subhash |
|
Designation : |
Director |
|
Address : |
12 Samata, General Bhosle Marg, Nariman Point, Mumbai – 400 021, |
|
Date of Birth/Age : |
01.07.1930 |
|
Date of Appointment : |
21.08.1995 |
|
|
|
|
Name : |
Mr. Shah Kantilal Vilas |
|
Designation : |
Director |
|
Address : |
Samruddhi, 116 Hindu Colony, |
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Date of Birth/Age : |
01.12.1943 |
|
Date of Appointment : |
20.12.2005 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.12.2010
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
2,574,324 |
33.54 |
|
|
2,574,324 |
33.54 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
2,574,324 |
33.54 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
50,000 |
0.65 |
|
|
50,000 |
0.65 |
|
|
|
|
|
|
481,994 |
6.28 |
|
|
|
|
|
Individual shareholders holding nominal share capital up to Rs.0.100
million |
1,585,174 |
20.65 |
|
Individual shareholders holding nominal share capital in excess of
Rs.0.100 million |
2,775,201 |
36.16 |
|
|
207,907 |
2.71 |
|
|
19,922 |
0.26 |
|
|
180,985 |
2.36 |
|
|
7,000 |
0.09 |
|
|
5,050,276 |
65.81 |
|
Total Public shareholding (B) |
5,100,276 |
66.46 |
|
Total (A)+(B) |
7,674,600 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts
have been issued |
- |
- |
|
|
- |
- |
|
|
- |
- |
|
|
- |
- |
|
Total (A)+(B)+(C) |
7,674,600 |
100.00 |
(1) Indian
Individuals / Hindu Undivided Family
Clearing MembersAs on 27.09.2010
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
2.51 |
|
Government Companies |
0.55 |
|
Bodies corporate |
6.31 |
|
Directors or relatives of Directors |
52.45 |
|
Other top fifty shareholders |
17.45 |
|
Other |
20.63 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Printing Inks and Allied Product. |
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Products : |
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GENERAL INFORMATION
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No. of Employees : |
Not divulged by the management |
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Bankers : |
Bank of Maharasahtra, 4, Riddhi Siddhi
Apartment, 10th Lane, Khetwadi Back Road, Girgaum, Mumbai - 400004,
Maharashtra, India |
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Facilities : |
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Banking
Relations : |
- |
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Auditors : |
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|
Name : |
Soman Uday and Company Chartered Accountants |
|
Address : |
B Shree Sagar Darshan, |
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|
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Associates/Subsidiaries : |
Organics Sales and Service private Limited |
CAPITAL STRUCTURE
As on 27.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000000 |
Equity Shares |
Rs.10/- Each |
Rs.100.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
7674600 |
Equity Shares |
Rs.10/- Each
|
Rs.76.746
Millions |
As on 31.03.2010
Authorised Capital : Rs.100.000 Millions
Issued, Subscribed & Paid-up Capital : Rs.70.245
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 |
70.245 |
68.266 |
59.866 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
95.114 |
92.838 |
86.976 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
165.359 |
161.104 |
146.842 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
168.774 |
93.261 |
106.457 |
|
|
2] Unsecured Loans |
0.000 |
3.600 |
4.911 |
|
|
TOTAL BORROWING |
168.774 |
96.861 |
111.368 |
|
|
DEFERRED TAX LIABILITIES |
12.414 |
10.817 |
8.660 |
|
|
|
|
|
|
|
|
TOTAL |
346.547 |
268.782 |
266.870 |
|
|
|
|
|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
124.090 |
107.155 |
103.205 |
|
|
Capital work-in-progress |
29.090 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
119.214
|
82.468 |
89.366 |
|
|
Sundry Debtors |
165.142
|
131.417 |
143.500 |
|
|
Cash & Bank Balances |
9.030
|
7.415 |
11.407 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
18.286
|
18.303 |
24.981 |
|
Total
Current Assets |
311.672
|
239.603 |
269.254 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
110.505
|
74.374 |
105.573 |
|
|
Other Current Liabilities |
0.000
|
0.000 |
0.000 |
|
|
Provisions |
7.800
|
3.602 |
0.016 |
|
Total
Current Liabilities |
118.305
|
77.976 |
105.589 |
|
|
Net Current Assets |
193.367
|
161.627 |
163.665 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
346.547 |
268.782 |
266.870 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
454.695 |
372.032 |
367.698 |
|
|
|
Other Income |
2.834 |
4.856 |
0.670 |
|
|
|
TOTAL (A) |
457.529 |
376.888 |
368.368 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Material Consumed |
306.197 |
260.382 |
265.745 |
|
|
|
Manufacturing Expenses |
22.400 |
17.514 |
12.118 |
|
|
|
Selling and Administrative Expense |
93.867 |
68.062 |
62.858 |
|
|
|
TOTAL (B) |
422.464 |
345.958 |
340.721 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
35.065 |
30.930 |
27.647 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
14.395 |
14.807 |
14.004 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
20.670 |
16.123 |
13.643 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
11.460 |
9.623 |
8.126 |
|
|
|
|
|
|
|
|
|
Add: |
Transferred from
Revaluation Reserve |
0.095 |
0.095 |
0.095 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
9.305 |
6.595 |
5.612 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
3.098 |
3.301 |
1.882 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
6.207 |
3.294 |
3.730 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
12.425 |
9.131 |
5.401 |
|
|
|
|
|
|
|
|
|
Less |
Income
tax of earlier year |
0.649 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.175 |
0.000 |
0.000 |
|
|
|
Proposed divided on Equity Shares |
3.452 |
0.000 |
0.000 |
|
|
|
Corporate Dividend Tax |
0.587 |
0.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
13.768 |
12.425 |
9.131 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
NA |
36.559 |
21.074 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
65.321 |
77.402 |
|
|
|
Stores & Spares |
NA |
2.143 |
11.443 |
|
|
|
Capital Goods |
NA |
0.421 |
0.424 |
|
|
TOTAL IMPORTS |
NA |
67.885 |
89.269 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
Basic |
0.93 |
0.55 |
0.62 |
|
|
|
Diluted |
0.90 |
0.49 |
0.62 |
|
QUARTERLY /
SUMMARISED RESULTS
|
PARTICULARS |
30.06.2010 |
30.09.2010 |
31.12.2010 |
|
Type |
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
|
Net Sales |
155.120 |
151.860 |
179.640 |
|
Total Expenditure |
141.500 |
146.900 |
168.570 |
|
PBIDT (Excl OI) |
13.620 |
4.960 |
11.070 |
|
Other Income |
0.000 |
1.220 |
0.340 |
|
Operating Profit |
13.620 |
6.180 |
11.410 |
|
Interest |
4.580 |
5.070 |
6.060 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
|
PBDT |
9.040 |
1.110 |
5.350 |
|
Depreciation |
3.140 |
3.190 |
3.270 |
|
Profit Before Tax |
5.900 |
(2.080) |
2.080 |
|
Tax |
1.370 |
(0.510) |
0.230 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
4.530 |
(1.580) |
1.850 |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
|
Net Profit |
4.530 |
(1.580) |
1.850 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
1.36
|
0.87 |
1.01 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.05
|
1.77 |
1.53 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.14
|
1.90 |
1.51 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06
|
0.04 |
0.04 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.74
|
1.09 |
1.48 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.63
|
3.07 |
2.55 |
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors:
|
Particulars |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
31.03.2008 (Rs. in millions) |
|
Sundry Creditors |
110.505
|
74.374 |
105.573 |
Note:
The registered office of the company has been shifted from Akal co operative, Housing Society Limited, Building No.A/2, Flat No.1, J. B. Nagar, Andheri (East), Mumbai-400 059, Maharashtra, India to the present address w.e.f.01.08.2009
Operations
During the year, the Company achieved a net
turnover of Rs.454.695 Millions as compared to Rs.372.032 Millions in the
previous year registering an increase of about 22.22%. The operating profit
before depreciation and taxation for the year has gone up to Rs. 20.669
Millions as against Rs.16.124 Millions in the previous year, an increase of about 33.94%. The following were
the achievements for the year:
1) Expanding business of Bank Note Press in
2) Strengthening distribution network in
neighbouring countries like
3) Expanding export to new countries like
4) Focus on large distribution houses in
5) Penetration in rural
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
L24220MH1965PLC013187 |
|
Name of the
company |
ORGANIC COATINGS
LIMITED |
|
Address of the
registered office or of the principal place of business in |
Akal co operative,
Housing Society Limited, Building No.A/2, Flat No.1, J. B. Nagar, Andheri
(East), Mumbai-400 059, |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
90240044 |
|
Type of charge |
Book Debts Movable Property |
|
Particular of
charge holder |
Bank of Maharasahtra, 4, Riddhi Siddhi
Apartment, 10th Lane, Khetwadi Back Road, Girgaum, Mumbai -
400004, Maharashtra, India |
|
Nature of description
of the instrument creating or modifying the charge |
Composite deed of
hypothecation for all facilities |
|
Date of
instrument Creating the charge |
12.02.2009 |
|
Amount secured by
the charge |
Rs.151.500
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest - BPLR -
1.75% p.a (Presently10.05%) with monthly rests Terms of
Repayment The Borrower
shall on demand pay the whole amount due to the Bank with interest and cost. Margin Margin - 25% on
amounts outstanding under the term loan account or any other similar
facilities and the market value of the property. Extent and
Operation of the charge Security to cover
principal amount together with interest, cost, charges, expenses, penal
interest etc. Others As per composite
deed of hypothecation for all facilities |
|
Short particulars
of the property charged |
Hypothecation of
movable plants, machineries, goods, stocks of raw materials, items, inventories,
stocks in process, semi finished and finished goods, stores and
spares(consumables stores and spares) stock in trade,
goods in process, movables in transit, and present and future tangible and
intangible assets, vehicles, goodwill, trademark, copyright, patent and all
the right title interest and benefit. |
|
Date of latest
modification prior to the present modification |
03.01.2008 |
|
Particulars of
the present modification |
Charge enhanced
from Rs.134.986 millions to Rs.151.500 millions Details of Credit
facilities as under: A) Fund Based: Term loan
outstanding- Rs.1.000 million Cash credit
against hypothecation of Stock - Rs.97.000 millions (Packing Credit
Sub Limit) Bills - Rs.20.000 millions B) Non Fund
Based: Letter of Credit -
Rs.25.000 millions Guarantee -
Rs.2.500 millions Deferred payment
guarantee- Rs.6.000 millions |
Fixed Assets:
·
Free hold Land
·
Buildings
·
Plant and Machinery
·
Furniture and Fixture
·
Vehicle
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.45.24 |
|
|
1 |
Rs.72.56 |
|
Euro |
1 |
Rs.63.00 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
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 |
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 |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
44 |
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.