1. Summary Information
|
|
|
Country |
|
|
Company Name |
ASHOK GRANITES
LIMITED |
Principal Name 1 |
MS. MUTHUSAMY BABY SAROJA |
|
Status |
SATISFACTORY |
Principal Name 2 |
MR. APPICHI MANI |
|
|
|
Registration # |
18-7127 |
|
Street Address |
4/35, |
||
|
Established Date |
13.11.1991 |
SIC Code |
-- |
|
Telephone# |
91-427-2447645 |
Business Style 1 |
WHOLESALERS |
|
Fax # |
91-427-2446223 |
Business Style 2 |
RETAILERS |
|
Homepage |
-- |
Product Name 1 |
GRANITE |
|
# of employees |
300
(Approximately) |
Product Name 2 |
MONUMENTS |
|
Paid up capital |
RS.11,250,000/- |
Product Name 3 |
SLABS |
|
Shareholders |
BODIES CORPORATE -3% DIRECTORS OR RELATIVES OF DIRECTORS
– 63% OTHER TOP FIFTY SHAREHOLDERS –
34% |
Banking |
KARNATAKA BANK
LIMITED |
|
Public Limited Corp. |
NO |
Business Period |
20 YEARS |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
Ba
(47) |
|
RELATED
COMPANY |
|||
|
Relation
|
COUNTRY
|
Company
Name |
CEO |
|
Subsidiaries |
-- |
Granite and Tombstone Products, Inc |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
167,526,000 |
Current Liabilities |
18,530,000 |
|
Inventories |
34,884,000 |
Long-term Liabilities |
90,971,000 |
|
Fixed Assets |
76,757,000 |
Other Liabilities |
14,910,000 |
|
Deferred Assets |
000 |
Total Liabilities |
124,411,000 |
|
Invest& other Assets |
5,598,000 |
Retained Earnings |
149,104,000 |
|
|
|
Net Worth |
160,354,000 |
|
Total Assets |
284,765,000 |
Total Liab. & Equity |
284,765,000 |
|
Total Assets (Previous Year) |
295,799,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
268,827,000 |
Net Profit |
9,940,000 |
|
Sales(Previous yr) |
287,131,000 |
Net Profit(Prev.yr) |
12,298,000 |
MIRA
INFORM REPORT
|
Report Date : |
02.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
ASHOK GRANITES LIMITED (w.e.f. 28.04.1992) |
|
|
|
|
Formerly Known
As : |
ASHOK GRANITES PRIVATE LIMITED |
|
|
|
|
Registered Office : |
4/35, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
13.11.1991 |
|
|
|
|
Com. Reg. No.: |
18-7127 |
|
|
|
|
CIN No.: [Company Identification No.] |
U14102TZ1991PLC007127 |
|
|
|
|
TAN No.: (Tax Deduction & Collection Account No.) |
CHEA08095D |
|
|
|
|
Legal Form : |
Closely held public limited liability company. |
|
|
|
|
Line of Business : |
Manufacturers and Exporter of Polished Granite, Slabs, Monuments and
Tiles. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 640000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. Trade
relations are 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 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
4/35, |
|
Tel. No.: |
91-427-2447645/2448490/ 2345456 |
|
Fax No.: |
91-427-2446223/ 2448744 |
|
E-Mail : |
|
|
Area : |
10000 Sq. Ft. |
|
Location : |
Owned |
|
|
|
|
Factory : |
60/4A, Vellakkalpatty, Chetichavadi, Omalur, |
|
Tel. No.: |
91-427-2335020 / 2345456 |
|
Fax No.: |
91-427-2345223 |
|
E-mail : |
|
|
Area : |
250000 Sq. Ft. |
|
Location : |
Owned |
DIRECTORS
As on 29.09.2010
|
Name |
Ms. Muthusamy Baby Saroja |
|
Designation |
Director |
|
Address |
|
|
Date of Birth : |
15.12.1954 |
|
Qualification : |
B.S.C |
|
Date of
Appointment |
13.11.1991 |
|
DIN No.: |
00047539 |
|
|
|
|
Name |
Mr. Appichiounder Mani |
|
Designation |
Director |
|
Address |
2/55-5, 3rd Cross, II Main Road, Shivaya Nagar,
Reddiyur, Salem – 636016, Tamilnadu,
India |
|
Date of Birth |
18.07.1956 |
|
Qualification : |
B.A. |
|
Date of
Appointment |
05.05.1995 |
|
DIN No.: |
01982414 |
|
|
|
|
Name |
Mr. Duraisamy Krishnan |
|
Designation |
Whole Time Director |
|
Address |
Old No. 2/65, B3, New No. 129/5, 11th cross, Silvaya Nagar,
Alagapuram, Salem-636016, |
|
Date of Birth |
30.07.1967 |
|
Qualification : |
B.E. |
|
Date of
Appointment |
01.02.1998 |
|
DIN No.: |
00047686 |
|
|
|
|
Name |
Mr. A. Paramasivam |
|
Designation |
Director |
|
Address |
2-157-2, D 1 Kumaran Salai, Salem-636005, |
|
DIN No.: |
01413912 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
M Baby Saroja |
|
114100 |
|
S. Manickam |
|
75100 |
|
D. Krishnan |
|
25100 |
|
A Mani |
|
100 |
|
S. Muthurajan |
|
477600 |
|
GTP Exports Private Limited, |
|
35000 |
|
M. Ashok Raj |
|
74700 |
|
M. Ramya |
|
7500 |
|
M. Divya |
|
7500 |
|
M.K. Duraisamy |
|
70000 |
|
K. Chinnusamy |
|
25000 |
|
A. Srinivasan |
|
18300 |
|
K. Appichi Gounder |
|
50000 |
|
K. Venkatachalam |
|
15000 |
|
M.Sellammal |
|
20000 |
|
A. Kaliammal |
|
30000 |
|
S. Pavayammnal |
|
60000 |
|
K. Kamalakkannan |
|
20000 |
|
|
|
|
|
Total |
|
1125000 |
Equity Share
Breakup (Percentage of Total Equity)
AS ON 30.09.2010
|
Category |
|
Percentage of
Holding |
|
|
|
|
|
Bodies corporate (not mentioned above) |
|
3.00 |
|
Directors or relatives of directors |
|
63.00 |
|
Other top fifty shareholders |
|
34.00 |
|
|
Total
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers and Exporter of Polished Granite, Slabs, Monuments and
Tiles. |
||||
|
|
|
||||
|
Products : |
v
Granite v
Monuments v
Slabs
|
PRODUCTION STATUS
As on 31.03.2010
|
Particulars |
Unit |
|
31.03.2010 |
|
|
|
|
|
|
Installed Capacity |
Qty/Sq. Ft |
|
244800 |
|
|
|
|
|
|
Production
Granite
Granite Tiles |
Qty/Sq. Ft Qty/Sq. Ft |
|
186784 19779 |
GENERAL INFORMATION
|
Suppliers : |
v
Grantools Private Limited v
Stay Sharp Diamond Tools Private Limited |
|||||||||||||||
|
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|
|||||||||||||||
|
Customers : |
·
Wholesalers ·
Retailers ·
End Users |
|||||||||||||||
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|
|||||||||||||||
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No. of Employees : |
300 Approximately |
|||||||||||||||
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
|
|
|
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Financial Institute: |
Bajaj Finance Limited, Akurdi Pune, Pune-411035, |
|
|
|
|
Auditors : |
|
|
Name : |
Bala and Sakthi Chartered Accountants |
|
Address : |
7AA |
|
Tel. No.: |
91-427-2210676/2212718 |
|
|
|
|
Associate: |
GTP Finance Limited |
|
|
|
|
Enterprises owned by key managerial personal/ relative of key
managerial personnel: |
|
|
|
|
|
Subsidiaries : |
Name: Granite and
Tombstone Products, Inc Address: 4/35, Line of
Business: Manufacturers and Exporter of Polished Granite, Slabs, Monuments and
Tiles. |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15,00,000 |
Equity Shares |
Rs. 10/- each |
Rs.15.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11,25,000 |
Equity Shares |
Rs. 10/- each |
Rs.11.250
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 |
11.250 |
11.250 |
11.250 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
149.104 |
139.165 |
126.867 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
160.354 |
150.415 |
138.117 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
90.971 |
105.958 |
91.884 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
90.971 |
105.958 |
91.884 |
|
|
DEFERRED TAX LIABILITIES |
11.969 |
14.909 |
16.973 |
|
|
|
|
|
|
|
|
TOTAL |
263.294 |
271.282 |
246.974 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
76.757 |
69.494 |
76.459 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
5.598 |
4.098 |
3.098 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
34.884
|
44.172 |
60.003 |
|
|
Sundry Debtors |
92.945
|
119.204 |
90.665 |
|
|
Cash & Bank Balances |
6.037
|
23.787 |
4.739 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
68.544
|
35.044 |
26.750 |
|
Total
Current Assets |
202.410
|
222.207 |
182.157 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
10.435
|
12.721 |
5.987 |
|
|
Other Current Liabilities |
8.095
|
8.643 |
6.905 |
|
|
Provisions |
2.941
|
3.153 |
1.848 |
|
Total
Current Liabilities |
21.471
|
24.517 |
14.740 |
|
|
Net Current Assets |
180.939
|
197.690 |
167.417 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
263.294 |
271.282 |
246.974 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
268.827 |
287.131 |
254.756 |
|
|
|
Income from Wind Mill Generation |
3.554 |
2.021 |
1.856 |
|
|
|
Other Income |
3.771 |
0.484 |
0.415 |
|
|
|
TOTAL (A) |
276.152 |
289.636 |
257.027 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Material |
113.485 |
120.916 |
114.699 |
|
|
|
Consumable |
24.739 |
24.957 |
22.354 |
|
|
|
Power and Fuel |
7.563 |
6.076 |
4.140 |
|
|
|
Other Manufacturing Expenses |
66.406 |
70.668 |
56.011 |
|
|
|
Administrative Expenses |
13.049 |
11.150 |
10.808 |
|
|
|
Selling Expenses |
16.930 |
19.293 |
19.668 |
|
|
|
Increase/ Decrease in Stock |
4.742 |
3.797 |
[3.116] |
|
|
|
TOTAL (B) |
246.914 |
256.857 |
224.564 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
29.238 |
32.779 |
32.463 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
8.747 |
9.268 |
7.474 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
20.491 |
23.511 |
24.989 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
10.550 |
10.124 |
9.976 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
9.941 |
13.387 |
15.013 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.001 |
1.089 |
7.023 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
9.940 |
12.298 |
7.990 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
99.554 |
87.256 |
79.266 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
0.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
109.484 |
99.554 |
87.256 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
267.778 |
286.306 |
253.252 |
|
|
|
Insurance and Freight |
0.146 |
0.151 |
0.149 |
|
|
TOTAL EARNINGS |
267.924 |
286.457 |
253.401 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Rough Granite Blocks |
1.283 |
8.272 |
5.856 |
|
|
|
Polishing Materials and Consumable Spares |
7.866 |
7.955 |
6.645 |
|
|
|
Machinery Spares |
0.849 |
1.056 |
0.549 |
|
|
|
Capital Goods |
0.000 |
0.000 |
1.148 |
|
|
TOTAL IMPORTS |
9.998 |
17.283 |
14.198 |
|
|
|
|
|
|
|
|
|
|
Basic/ Diluted
Earnings Per Share (Rs.) |
8.84 |
10.93 |
6.72 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
3.60
|
4.25 |
3.10
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.70
|
4.66 |
5.89
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.56
|
4.59 |
5.80
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06
|
0.09 |
0.10
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.70
|
0.87
|
0.77
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
9.43
|
9.06
|
12.35
|
LOCAL AGENCY FURTHER INFORMATION
Operations:
During the year the company registered a turnover of Rs.272.400 Millions
and a net profit of Rs.9.940 Millions after proving for interest, depreciation,
tax and also other provisions.
Contingent
Liabilities:
|
Particulars |
31.03.2010 Rs.
in Millions |
|
Import Letter of Credit |
0.000 |
|
On Counter guarantees given to banks |
2.554 |
|
Disputed Excise Duty |
0.053 |
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U14102TZ1991PLC007127 |
|
Name of the
company |
ASHOK GRANITES
LIMITED |
|
Address of the
registered office or of the principal place of business in |
4/35, |
|
This form is for |
Creation of
Charge |
|
Type of charge |
Movable Property |
|
Particular of
charge holder |
Bajaj Finance Limited, Akurdi Pune, Pune-411035, |
|
Nature of
instrument creating charge |
Loan Agreement against
JCB 3DX Backhoe Loader and Atlas Copco XA176 Air Compressor |
|
Date of
instrument Creating the charge |
07.02.2011 |
|
Amount secured by
the charge |
Rs. 2.513
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest 10.50% per annum Terms of
Repayment 35 Monthly
installment of Rs. 0.084 Million Margin 06.26% Margin
Money Extent and
Operation of the charge 100% |
|
Short particulars
of the property charged |
JCB 3DX Backhoe
Loader Atlas Copco XA176 Air Compressor |
|
Name of the company |
ASHOK GRANITES
LIMITED |
|
Presented By |
Ashok Granites
Limited, The Karnataka
Bank Limited, |
|
1) Date and description of instrument creating the change |
1 Letter of
Hypothecation dated 2.9.1996. 2 Guarantee
Letter 1ated 2.9.1996 (Both relate to the same charge) |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Bill Discounting
Limit Rs.20.000 Millions |
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Hypothecation of
all Documentary Bills of Exchange. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
In the event of
the bills remaining unpaid for a period 30 days, after the transit period of
15 days in case of demand bills and after due date case of usance bills, the
bank shall be at liberty to crystalise the foreign currency liability under
the unpaid bills and covert the same to rupee liability on the 30r day at the
prevailing ready TT selling rate. Interest @ 13 per
annum. |
|
5) Name and Address and description of the person entitled to the charge. |
The Karnataka
Bank Limited, |
|
6) Date and brief description of instrument modifying the charge |
Memorandum of
Deposit of Title Deeds dated 05.09.2003. |
|
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
Equitable
Mortgage by deposit of title deeds of immovable properties of the company
offered as additional collateral security to secure Export Bills Limit
Rs.67.500 Millions. Description of
property: S.No.60/3A 0.20 Acres of dry land S.No.60/3C 0.05 Acres of dry land S.No.60/3B 0.25 Acres of dry land S.No.60/3C 0.23 Acres of dry land at |
Fixed Assets
- Land
- Building
- Plant and Machinery
- Electrical Installations
- Furniture and Fixture
- Fittings
- Vehicles
- Office Equipment
- Computer
- Wind Electric Generator
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.38 |
|
|
1 |
Rs.73.88 |
|
Euro |
1 |
Rs.65.83 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
|
47 |
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.