MIRA
INFORM REPORT
|
Report Date : |
27.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
BAJAJSONS LIMITED |
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Formerly Known As : |
BAJAJSONS PRIVATE LIMITED |
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Registered Office : |
C-103, Phase 5, Focal Point, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
31.01.1985 |
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Capital
Investment / Paid-up Capital : |
Rs.78.400 Millions |
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Com. Reg. No.: |
16-006127 |
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CIN No.: [Company
Identification No.] |
U34300PB1985PLC006127 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
JLDB00544F JLDB00809E |
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PAN No.: [Permanent
Account No.] |
AAACB6875H |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business : |
Manufacture and Importer of Water Parts. |
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No. of Employees
: |
6400 [Approximately] |
RATING & COMMENTS
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MIRA’s Rating : |
A (67) |
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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 1370000 |
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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. Payments are reported as usually
correct and as per commitments. The company can be considered good for normal 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 – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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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 : |
C-103, Phase 5, Focal Point, |
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Tel. No.: |
91-161-2670824/ 2670825/ 2670105 / 4692600 |
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Fax No.: |
91-161-2670104 |
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E-Mail : |
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Website : |
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Area : |
40000 sq. ft. |
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Location : |
Owned by Company |
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Factory 1: |
C-68,
Focal Point, Phase-III, Tel
No.:91-161-2673294, 2675990 Fax
No.:91-161-2673024 Email
: info@bajajsons.com |
|
Area : |
54000 sq. ft. |
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Location : |
Owned by company |
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Factory 2: |
C-92-94, Focal Point, Phase-V, Tel No.: 91-161-2677993, 5017557, 5035779 Fax No.: 91-161-2671008 Email
: info@bajajsons.com |
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Area : |
100000 sq. ft. |
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Location : |
Owned by company |
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Factory 3 : |
Plot No. 31, MIDC, Satpur, Nashik - 422001, Tel No.:91-253-6610020, 6610021 Fax No.: 91-253-2361515 Email : nashik@bajajsons.com |
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Area : |
60000 sq. ft. |
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Location : |
Owned by company |
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Factory 4 : |
Plot No. 02, Industrial Park Iv, Near Bahadrabad Road,
Village Begampur, District Haridwar, India Email : haridwar@bajajsons.com |
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Factory 5 : |
Plot No. 42, Shivganga Industrial Estate, Village
Lakesari, P O Pargana, Bhagwanpur, Tehsil Roorkee, Uttarkhand Tel No.:91-1332-235240 / 41 / 42 Email : roorkee@bajajsons.com |
DIRECTORS
As on 28.09.2010
|
Name : |
Mr. Surender Pal Bajaj |
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Designation : |
Managing Director |
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Address : |
2746/1 Gurdev Nagar, |
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Date of Birth/Age : |
28.06.1938 |
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Date of Appointment : |
01.03.1985 |
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DIN : |
00042105 |
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Name : |
Mr. Subash C Bajaj |
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Designation : |
Director |
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Address : |
2788, Gurdev Nagar, |
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Date of Birth/Age : |
18.01.1941 |
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Date of Appointment : |
31.01.1995 |
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DIN : |
00044392 |
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Name : |
Mr. Virender Pal Bajaj |
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Designation : |
Director |
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Address : |
1804, Sector -17, Gurgaon, |
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Date of Birth/Age : |
24.04.1939 |
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Date of Appointment : |
01.01.1989 |
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DIN : |
00003030 |
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Name : |
Mr. Sanjay Bajaj |
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Designation : |
Whole Time Director |
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Address : |
2746/1 Gurdev Nagar, |
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Date of Birth/Age : |
11.12.1964 |
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Date of Appointment : |
25.04.1999 |
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DIN : |
00042035 |
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Name : |
Mr. Sumeet Bajaj |
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Designation : |
Director |
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Address : |
2746/1 Gurdev Nagar, |
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Date of Birth/Age : |
25.06.1969 |
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Date of Appointment : |
25.04.1999 |
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DIN : |
00044340 |
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Name : |
Mr. Ashwani Kumar |
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Designation : |
Additional Director |
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Address : |
B-1, 1375, opp. Old Courts, |
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Date of Birth/Age : |
15.10.1948 |
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Date of Appointment : |
04.09.2010 |
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DIN : |
03060569 |
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Name : |
Mr. Rajpal Ahuja |
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Designation : |
Additional Director |
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Address : |
H. No.6, Sant Fateh Singh Nagar, |
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Date of Birth/Age : |
10.09.19.35 |
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Date of Appointment : |
04.09.2010 |
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DIN : |
03225555 |
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Name : |
Mr. Anil Kapoor |
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Designation : |
Additional Director |
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Address : |
Kapoor Clinic, Sunder Nagar, |
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Date of Birth/Age : |
02.07.1954 |
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Date of Appointment : |
04.09.2010 |
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DIN : |
03162799 |
KEY EXECUTIVES
|
Name : |
Mr. Jai Bhagwan Sharma |
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Designation : |
Director |
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Address : |
1960, Sector 32-A, |
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Date of Birth/Age : |
04.06.1968 |
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Date of Appointment : |
04.02.2005 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.09.2010
|
Names of Shareholders |
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No. of Shares |
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Mr. V P Bajaj |
|
489755 |
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Mr. Subash C Bajaj |
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1117312 |
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Mr. S P Bajaj |
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2555 |
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Mrs. Sushma Bajaj |
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978600 |
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Mrs. Sushma Bajaj |
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406000 |
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Mr. Sanjay Bajaj |
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342300 |
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Mrs. Sheetal |
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273350 |
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Mr. Saurabh Bajaj |
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192500 |
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Mr. Sumeet Bajaj |
|
447300 |
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Mr. Vikas Bajaj |
|
253235 |
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Mr. Depak Bajaj |
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597800 |
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Bajaj Precision Foregings (Private) Limited, |
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1064000 |
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Mrs. Vimmi Bajaj |
|
227500 |
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Dr. Preeti Bajaj |
|
383410 |
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Mrs. Ekta Bjaja |
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70000 |
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Mr. Sanjay Bajaj (HUF) |
|
122500 |
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Mr. Surabh Bajaj (HUF) |
|
348430 |
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Mr. Kamna Bajaj |
|
383425 |
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Mr. V P Bajaj (HUF) |
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140000 |
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Mr. S P Bajaj (HUF) |
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28 |
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Total |
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7840000 |
As on 28.09.2010
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Category |
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Percentage |
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Bodies Corporate (Not mentioned above) |
|
14.00 |
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Directors or relatives of directors |
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86.00 |
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Total |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacture and Importer of Water Parts. |
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Products : |
·
Water Parts ·
Automobile Ancillaries ·
Sheet Metal ·
Tubular ·
Assembles ·
Turned ·
Machined Forgings |
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Imports : |
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Products : |
Machinery |
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Countries : |
·
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Terms : |
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Selling : |
Credit (30 days) |
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Purchasing : |
Credit (60-75 days) and T/T |
GENERAL INFORMATION
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Customers : |
OEM’s |
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No. of Employees : |
6400 [Approximately] |
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Bankers : |
·
State Bank of ·
CITI Bank, Phiroz Gandhi Market, ·
CITI Bank NA, Jeevan Vihar, 3 Sansad Marg, ·
Standard Chartered Bank, CREDIT RISK CONTROL,
Narain Mazil, 23 Barakhamba Road, New Delhi – 110001, Delhi, India ·
H.D.F.C. Bank Limited |
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Facilities : |
Rs. In Millions
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
A Kumar Gupta and Company Chartered Accountant |
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Address : |
1st Floor, Kismat Complex, |
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Financial Institute : |
Governor of |
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Associates/Subsidiaries : |
Incorporate Date : 1960 Key products: Transmission
Parts, Propeller Shafts and Components, Chassis Components, Axles etc. Key customers: Telco, Ashok
Leyland, State Transport Undertakings, Export and Replacement market
Incorporate Date : 1979 Key products: Transmission, Chassis
Parts and Fasteners Key customers: Replacement market.
State transport corporation
Incorporate Date : 1987 Key products: Rocker Arms, Shifter
Forks, Piston Pin, Crank Pin, Stem Steering Key customers: Hero Honda, TATA Motors, New Holland, Mahindra Renault
Incorporate Date : 2001
|
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8,000,000 |
Equity Shares |
Rs.10/- each |
Rs.80.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7,840,000 |
Equity Shares |
Rs.10/- each |
Rs.78.400
Millions |
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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 |
78.400 |
78.400 |
78.400 |
|
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
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3] Reserves & Surplus |
266.583 |
239.448 |
219.128 |
|
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
344.983 |
317.848 |
297.528 |
|
|
LOAN FUNDS |
|
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|
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1] Secured Loans |
365.949 |
280.257 |
283.852 |
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2] Unsecured Loans |
119.052 |
96.616 |
88.589 |
|
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TOTAL BORROWING |
485.001 |
376.873 |
372.441 |
|
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DEFERRED TAX LIABILITIES |
45.392 |
43.835 |
37.935 |
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|
|
|
|
|
|
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TOTAL |
875.376 |
738.556 |
707.904 |
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APPLICATION OF FUNDS |
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|
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FIXED ASSETS [Net Block] |
593.459 |
478.634 |
433.892 |
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Capital work-in-progress |
1.384 |
0.200 |
33.738 |
|
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|
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INVESTMENT |
0.895 |
0.895 |
1.210 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
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Inventories |
235.988
|
197.682
|
181.417
|
|
|
Sundry Debtors |
285.880
|
240.181
|
221.483
|
|
|
Cash & Bank Balances |
19.694
|
30.645
|
26.655 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
49.924
|
51.631
|
52.397 |
|
Total
Current Assets |
591.486
|
520.139
|
481.952 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
210.999
|
175.444
|
144.591 |
|
|
Sundry Creditors |
71.487
|
29.738
|
29.777 |
|
|
Provisions |
29.362
|
56.130
|
68.520 |
|
Total
Current Liabilities |
311.848
|
261.312
|
242.888 |
|
|
Net Current Assets |
279.638
|
258.827
|
239.064 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
875.376 |
738.556 |
707.903 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
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SALES |
|
|
|
|
|
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Income |
1630.585 |
1401.822 |
1151.612 |
|
|
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Other Income |
2.632 |
1.407 |
16.618 |
|
|
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TOTAL (A) |
1633.217 |
1403.229 |
1168.230 |
|
|
|
|
|
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Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Material Consumed |
972.908 |
819.845 |
616.435 |
|
|
|
Manufacturing Expenses |
259.217 |
219.189 |
188.410 |
|
|
|
General and Administrative Expenses |
24.990 |
19.580 |
18.914 |
|
|
|
Selling and Distribution Expenses |
34.948 |
26.781 |
31.980 |
|
|
|
Personnel Expenses |
246.595 |
193.955 |
170.656 |
|
|
|
Increase/(Decrease) in Finished Goods |
(33.787) |
2.466 |
26.294 |
|
|
|
TOTAL (B) |
1504.871 |
1281.816 |
1052.689 |
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|
|
|
|
|
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|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
128.346 |
121.413 |
115.541 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
42.668 |
40.719 |
36.222 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
85.678 |
80.694 |
79.319 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
45.323 |
40.633 |
35.477 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
40.355 |
40.061 |
43.842 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
13.221 |
14.970 |
5.636 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
27.134 |
25.091 |
38.206 |
|
|
|
|
|
|
|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
87.289 |
62.198 |
43.992 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
0.000 |
20.000 |
|
|
BALANCE CARRIED
TO THE B/S |
114.423 |
87.289 |
62.198 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Sales |
0.213 |
4.033 |
-- |
|
|
TOTAL EARNINGS |
0.213 |
4.033 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
64.136 |
48.816 |
-- |
|
|
|
Consumables |
55.980 |
0.249 |
-- |
|
|
|
Spares |
0.024 |
0.000 |
-- |
|
|
|
Laptop |
0.059 |
0.000 |
-- |
|
|
|
Machinery |
0.618 |
0.000 |
-- |
|
|
TOTAL IMPORTS |
120.817 |
49.065 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.53 |
3.33 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
1.66
|
1.78
|
3.36 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.47
|
2.86
|
3.81 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.41
|
4.01
|
4.78 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.12
|
0.13
|
0.15 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.31
|
2.01
|
2.07 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.90
|
1.99
|
1.98 |
LOCAL AGENCY FURTHER INFORMATION
Financial and
Operating Performance:
During the year, the company has achieved the sales and other income of
Rs.1633.217 Millions in comparison to Rs. 1403.228 Millions in last financial year
registering an increased of 16.39%. During the previous financial year, the
companies earn other income of Rs.14.616 Millions. Profit before depreciation
and taxation has increased from Rs.80.692 million to Rs.85.677 million i.e. an
increase of 6.18%. The company has taken various steps such as, increased in
productivity, automation, reduction in overheads, widening its product
portfolio etc. to increased its profitability.
As their principal customer M/s Hero Honda Motors Limited has set up its
manufacturing facilities at Haridwar in the State of
No other material changes and commitments affecting the financial health
of the company have occurred during the end of financial year and the date of
this report.
Contingent
Liabilities : [As on 31.03.2010]
Guarantee bond in favor of the president of
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U34300PB1985PLC006127 |
|
Name of the
company |
BAJAJSONS LIMITED |
|
Address of the registered
office or of the principal place of
business in |
C 103 PHASE 5FOCAL POINT |
|
This form is for |
Modification
of Charge |
|
Charge
identification (ID) number of the charge to be modified |
90169221 |
|
Type of charge |
Immovable
Property Book Debts Movable Property |
|
Particular of
charge holder |
State Bank of |
|
Nature of
instrument creating charge |
Recital Of
Immovable Properties Renewal/Reduction
Of Working Capital Limit Letter |
|
Date of
instrument Creating the charge |
31.03.2011 |
|
Amount secured by
the charge |
Rs.127.400
millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest
- working capital limit : 4.50% above base rate and present effective rate is
12.75% p.a with monthly rest Terms of
Repayment - term loan : as per sanctioned terms. Wc : on demand Margin - Rwa
Material - 25% Stock In Process
- 25% Receivable - 40% Finished Goods -
25% Extent and
Operation of the charge - extent of operation - 100% |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Primary security
: Working Capital : (a) First charge on the entire current assets of the
company on pari passu basic with Standard Chartered bank, Citibank and HDFC
Bank Term Loan: (b) First charge on the entire fixed assets of the company on
pari passu basic with Standard Chartered bank, Citibank and HDFC Bank
(excluding assets charged to Citibank exclusively) on the following immovable
properties: 1. Immovable property
of the factory land and building at C-92, Phase V, Focal point, Ludhiana
measuring 5000 sq. yards in the name of company. 2.Immovable property of the
factory land and building at C-103, Phase V, Focal point, Ludhiana measuring
5000 sq. yards in the name of company 3. Immovable property of the factory
land and building at C-68, Phase III, Focal point, Ludhiana measuring 3278.82
sq. yards in the name of company 4. Immovable of leasehold rights the factory
land and building at plot 31, MIDC, Satpur, Nashik, measuring 18934 sq.
meters in the name of company. Immovable leasehold rights of the factory land
and building at C-85, Phase V, Focal point, |
|
Date of
instrument modifying the charge |
13.02.2009 |
|
Particulars of
the present modification |
Fund based limits
has been reduced from Rs. 177.400 million to Rs. 127.400 million. New EM of
industrial plot no. 2, at IP-IV, Vill. Begumpur, Distt. Haridwar has been
mortgaged against recital dated 18/03/2011 |
FIXED ASSETS :
- Land
- Building
- Plant and
Machinery
- Tools and
Dies
- Jigs and
Fixtures
- Pollution
Control Equipments
- Computer
- Cycle and
Rickshaw
- Vehicles
- MFA
Profile:
Subject
was incorporated in the year 1985 by Mr. S P Bajaj, Mr. V.P. Bajaj and Mr. Subhash
Bajaj. This venture set out to manufacture Precision Engineered
Automotive Machined Components especially for Two-Wheelers. Over the years the
company has achieved an impeccable reputation in terms of reliability, quality
and delivery. With the result that the company is meeting the varied
requirements of all major automotive companies both two wheelers and four
wheelers.
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.45.29 |
|
|
1 |
Rs.73.84 |
|
Euro |
1 |
Rs.64.18 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
67 |
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.