MIRA
INFORM REPORT
|
Report Date : |
12.11.2011 |
IDENTIFICATION DETAILS
|
Name : |
SHAKTI BIO SCINECE LIMITED |
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Registered
Office : |
Plot No. 411/1 LIC Sector, Silvassa Road, GIDC, Vapi - 396195, Gujarat |
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Country : |
India |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
31.01.1995 |
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Com. Reg. No.: |
55-024430 |
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Capital
Investment / Paid-up Capital : |
Rs.16.153 Millions |
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CIN No.: [Company Identification
No.] |
U24116GJ1995PLC024430 |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
SRTS04962G |
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PAN No.: [Permanent Account No.] |
AAHCS7723A |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer of Bulk Drug / Intermediates |
RATING & COMMENTS
|
MIRA’s Rating : |
B (31) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 315000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Trade relations
are reported as fair. Business is active. Payments are reported to be slow
but correct. The company can be considered for small 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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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
|
Registered Office/Factory : |
Plot No. 411/1 LIC Sectorsilvassa Road, GIDC, Vapi - 396195, Gujarat,
India |
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Tel. No.: |
91-260-2453714 |
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Fax No.: |
91-260-2453567 |
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E-Mail : |
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Website : |
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Head Office / Corporate Office : |
101/A, Suryakiran, S.V.P. Road, New Chamunda Circle Bank, Borivali
(West), Mumbai – 400092, Maharashtra, India
|
|
Tel. No.: |
91-22-64523685 |
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Fax No.: |
91-22-28955580 |
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Email : |
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mr. Sadashiv Pakeera Shetty |
|
Designation : |
Managing Director |
|
Address : |
18/A, Tower D, Viceroy Park, Opposite Takur Cinema, Thakur Village,
Kandivali (East), Mumbai – 400101, Maharashtra, India |
|
Date of Birth/Age : |
13.06.1954 |
|
Date of Appointment : |
26.10.2005 |
|
DIN No.: |
00038681 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U24231GJ1992PLC017315 |
HERANBA
INDUSTRIES LIMITED |
Managing
director |
1/9/2006 |
29/09/1994 |
- |
Active |
NO |
|
2 |
U24110MH1994PLC082301 |
SAMS
INDUSTRIES LIMITED |
Director |
24/10/1994 |
24/10/1994 |
- |
Active |
NO |
|
3 |
U24116GJ1995PLC024430 |
SHAKTI
BIO SCIENCE LIMITED |
Managing
director |
1/1/2007 |
26/10/2005 |
- |
Active |
NO |
|
4 |
U24240MH2011PLC217567 |
HERANBA
CROP CARE LIMITED |
Director |
16/05/2011 |
16/05/2011 |
- |
Active |
NO |
|
Name : |
Mrs. Sujata Sadashiv Shetty |
|
Designation : |
Whole Time Director |
|
Address : |
18/A, Tower D, Viceroy Park, Opposite Takur Cinema, Thakur Village,
Kandivali (East), Mumbai – 400101, Maharashtra, India |
|
Date of Birth/Age : |
08.05.1960 |
|
Date of Appointment : |
26.10.2005 |
|
DIN No.: |
00632563 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U24110MH1994PLC082301 |
SAMS
INDUSTRIES LIMITED |
Director |
29/09/2001 |
29/09/2001 |
- |
Active |
NO |
|
2 |
U24231GJ1992PLC017315 |
HERANBA
INDUSTRIES LIMITED |
Director |
27/12/2001 |
27/12/2001 |
- |
Active |
NO |
|
3 |
U24116GJ1995PLC024430 |
SHAKTI
BIO SCIENCE LIMITED |
Whole-time
director |
1/1/2007 |
26/10/2005 |
- |
Active |
NO |
|
4 |
U24240MH2011PLC217567 |
HERANBA
CROP CARE LIMITED |
Director |
16/05/2011 |
16/05/2011 |
- |
Active |
NO |
|
Name : |
Mrs. Shreya Sadashiv Shetty |
|
Designation : |
Whole Time Director |
|
Address : |
18/A, Tower D, Viceroy Park, Opposite Takur Cinema, Thakur Village,
Kandivali (East), Mumbai – 400101, Maharashtra, India |
|
Date of Birth/Age : |
20.11.1985 |
|
Date of Appointment : |
30.09.2006 |
|
DIN No.: |
00832958 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Shetty Pakeera Sadashiv |
|
1241566 |
|
Shetty Sadashiv Sujata |
|
267114 |
|
Shetty Sadashiv Shreya |
|
2700 |
|
Patel Shetty Premabhai Pakeera |
|
100 |
|
Crystal Shelter Private Limited, India |
|
20000 |
|
Pet Plastic Limited, India |
|
10000 |
|
Prominent Commodities Private Limited, India |
|
30000 |
|
SKM Engineering Private Limited, India |
|
8500 |
|
Terry Towel Industries Limited, India |
|
35000 |
|
Sadashiv Shriraj Shetty |
|
200 |
|
Shankar Snup Salian |
|
100 |
|
Suresh Nitin Belose |
|
100 |
|
|
|
|
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Total |
|
1615380 |
AS ON 30.09.2010
|
Equity Shares Break
Up |
Percentage |
|
|
|
|
Bodies corporate |
6.41 |
|
Directors or relatives of Directors |
93.57 |
|
Other top fifty shareholders |
0.02 |
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|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Bulk Drug / Intermediates |
GENERAL INFORMATION
|
Bankers : |
·
Union
Bank of India, 258 Ved Bunglow, Opposite Sony Mony, S.V. Road, Borivali West,
Mumbai, Maharashtra, India ·
Bank
of Baroda |
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Facilities : |
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Banking
Relations : |
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Auditors : |
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Name : |
Kaushik Gandhi and Associates Chartered Accountant |
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Address : |
26, Ground Floor, Dattani Trade Centre, Chabdavarkar Road, Borivali, Mumbai
– 400092, Maharashtra, India |
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Pan No.: |
AFNPG8573J |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1615380 |
Equity Shares |
Rs.10/- each |
Rs.16.153
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 |
16.153 |
13.930 |
12.460 |
|
|
2] Share Application Money |
0.000 |
3.015 |
14.333 |
|
|
3] Reserves & Surplus |
62.597 |
32.781 |
23.576 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
78.750 |
49.726 |
50.369 |
|
|
LOAN FUNDS |
|
|
|
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|
1] Secured Loans |
204.911 |
146.560 |
85.760 |
|
|
2] Unsecured Loans |
13.758 |
13.580 |
15.039 |
|
|
TOTAL BORROWING |
218.669 |
160.140 |
100.799 |
|
|
DEFERRED TAX LIABILITIES |
8.188 |
4.379 |
1.801 |
|
|
|
|
|
|
|
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TOTAL |
305.607 |
214.245 |
152.969 |
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|
|
|
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APPLICATION OF FUNDS |
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|
|
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|
|
|
|
|
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FIXED ASSETS [Net Block] |
186.185 |
147.890 |
96.054 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
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|
INVESTMENT |
0.036 |
0.029 |
0.020 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
158.400
|
82.211 |
47.360 |
|
|
Sundry Debtors |
176.531
|
78.209 |
14.606 |
|
|
Cash & Bank Balances |
5.081
|
2.545 |
5.781 |
|
|
Other Current Assets |
0.000
|
0.000 |
1.343 |
|
|
Loans & Advances |
24.803
|
17.949 |
8.187 |
|
Total
Current Assets |
364.815
|
180.914 |
77.277 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
232.122
|
109.155 |
17.914 |
|
|
Other Current Liabilities |
9.952
|
4.841 |
1.945 |
|
|
Provisions |
3.355
|
0.592 |
0.523 |
|
Total
Current Liabilities |
245.429
|
114.588 |
20.382 |
|
|
Net Current Assets |
119.386
|
66.326 |
56.895 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
305.607 |
214.245 |
152.969 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
602.468 |
203.998 |
|
|
|
|
Interest |
0.260 |
0.097 |
|
|
|
|
Other Income |
2.739 |
6.851 |
|
|
|
|
TOTAL (A) |
605.467 |
210.946 |
75.613 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Material Consumed |
507.117 |
169.684 |
55.088 |
|
|
|
Increase / Decrease in Stock |
(30.112) |
(37.790) |
(19.915) |
|
|
|
Salary and wages |
19.010 |
13.439 |
5.561 |
|
|
|
Contribution to provident and other funds |
0.916 |
0.675 |
0.000 |
|
|
|
Staff welfare expenses |
0.400 |
0.187 |
0.000 |
|
|
|
Manufacturing Expenses |
40.315 |
30.826 |
13.798 |
|
|
|
Selling and Administrative expenses |
9.049 |
7.024 |
7.158 |
|
|
|
TOTAL (B) |
546.695 |
184.045 |
61.690 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
58.772 |
26.901 |
13.923 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
27.195 |
16.642 |
6.415 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
31.577 |
10.259 |
7.508 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
15.160 |
9.898 |
3.668 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
16.417 |
0.361 |
3.840 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
6.609 |
2.649 |
1.854 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-I) (J) |
9.809 |
(2.288) |
1.986 |
|
|
|
|
|
|
|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2.012 |
6.037 |
0.860 |
|
|
|
|
|
|
|
|
|
Less |
PRIOR PERIOD
ADJUSTMENTS |
0.000 |
1.737 |
0.012 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
11.820 |
2.012 |
6.037 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
9.485 |
26.833 |
27.489 |
|
|
TOTAL EARNINGS |
9.485 |
26.833 |
27.489 |
|
|
|
|
|
|
|
|
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|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
5.135 |
Nil |
2.923 |
|
|
TOTAL IMPORTS |
5.135 |
Nil
|
2.923 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
4.09 |
1.63 |
1.14 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
1.62
|
(1.08) |
2.62 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.72
|
0.17 |
-- |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.97
|
0.80 |
2.21 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20
|
0.00 |
0.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
5.89
|
5.52 |
2.40 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.48
|
1.57 |
3.79 |
LOCAL AGENCY FURTHER INFORMATION
FINANCIAL RESULT :
The company
recorded the turnover (net) Rs. 602.468 millions during the financial year
2009-10 as against the turnover of Rs. 200.709 millions during the financial
year 2008-09, showing the rise in the turnover of Rs. 401.759 millions at the
rate of 300.17%. The operating profit before depreciation and taxation
increased from Rs. 10.259 in the previous financial year to Rs. 31.577 millions
during the current financial year.
FUTURE PROSPECT
The company has
undertaken expansion of the existing productive capacity which is likely to be
completed during the year 2009-10. Due to continued efforts, commitment and
efficiency of the directors and staff members, strong customer base and
marketing strategies there has been continued rise in the turnover and
profitability of the company. Considering the sound financial back ground of
directors and ability to take the advantage of the strong and increasing
business activities and thereby creating the synergetic effect, the company
will continue to rise to the market competition and the same is and will be
reflected by the continuous increase in the turnover and profitability of the
company.
OPERATIONAL REVIEW
The Unit at Vapi performed consistently well in terms of production of
various products of the company, showing increase in the production during the
year.
FORM 8
|
Corporate
identity number of the company |
U24116GJ1995PLC024430 |
|
Name of the
company |
SHAKTI BIO
SCIENCE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Plot No 411/1 LIC
Sector, Silvassa Road, G I D C, Vapi, Gujarat, India |
|
This form is for |
Modification of
charge |
|
Type of charge |
Immovable
property |
|
Particular of
charge holder |
Union Bank Of India,
258 Ved Bunglow, Opp Sony Mony, S.V. Road, Borivali West, Mumbai,
Maharashtra, India |
|
Nature of
instrument creating charge |
Deposit of Title
Deeds as Modified on 14/06/2011. |
|
Date of
instrument Creating the charge |
14/06/2011 |
|
Amount secured by
the charge |
Rs. 251.600
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest 1.CC(Hypo) and
Letter of Credit - Rs.150.000 millions at Base Rate + 5.25%. 2.Term Loan I,II,III,IV-
Rs.101.600 millions at Base Rate + 6% Terms of repayment Terms of
Repayment as per Original Repayment Schedule / Terms conveyed earlier Margin 1. Cash
Credit - 25% and Letter of Credit
- 15% 2. Term Loans I
to IV - 25 %each Extent and operation of the charge All the piece and
parcel of immovable property situated at Plot No. 411/1, in Vapi Notified
Industrial Area, bearing Survey/No. 222/P, Village Chanod, Taluka Pardi,
Dist. Valsad, Vapi, Gujarat. Other Nil |
|
Short particulars
of the property charged (Including location of the property) |
All the piece and
parcel of immovable property situated at Plot No. 411/1, in Vapi Notified
Industrial Area, bearing Survey/No. 222/P, Village Chanod, Taluka Pardi,
Dist. Valsad, Vapi, Gujarat. |
|
Particulars of
the present modification |
The Total Limit
of Credit Facilities stands at Rs. 251.600 millions (Enhancement of Cash
Credit Limits and Letter of Credit
from existing Rs. 75.000 millions to Rs. 150.000 millions and the Term
Loans stands at Rs. 101.600 millions ) |
FIXED ASSETS :
·
Leasehold Land
·
Factory Building
·
Plant and Machinery
·
Electric Installation
·
Air Compressors
·
Office Equipments
·
Furniture and Fixtures
·
Computer
·
Air Conditioners
WEBSITE DETAILS :
Subject was established in the year 2006 to
manufacture and market Pharmaceutical Intermediates, bulk drugs and some
specialty chemicals.
The
company commenced its operations with a fully integrated modern manufacturing
unit based in Vapi (Gujarat) about 160 Kms north of Mumbai, the commercial
capital of India, where the corporate office is situated.
Headed by technically qualified promoters the company has a strong team of
committed professionals who believe in the motto "Let's succeed
together".
The
chief promoter of the company is Mr.. Sadashiv K. Shetty, a post graduate in
Organic Chemistry with more than three decades of industry experience. His
expertise in the manufacture of pharmaceutical, agrochemical and specialty
chemicals backed by strong R & D and product development background is well
recognized. He has successfully under taken several chemical industrial
projects right from the green field site, establishing them, reaching full
capacity in record time and delivering products o the fullest satisfaction of
customers and end users.
The most significant achievement is the establishment of the well known Agro
chemical Company "Heranba Industries Limited. with an annual turnover of
35 million USD (Rs. 1500.00 0 millions). Heranba has four manufacturing plants
in Vapi and Ankleshwar in Gujarat and its corporate office in Mumbai. The
company manufactures and markets some of the major Agro chemical products,
Intermediates, Technicals and Formulated products catering to the domestic
market all over India. It efficiently reaches the end user, the farmer, through
strong network and chain of distributors and dealers.
The
company has a significant Global presence with 75% revenue generation from
exports. Its products are shipped to more than 40 countries around the globe.
One of its plants is an 100% Export Oriented unit (EOU).
Quality Focus
Quality forms the
crux of Shakti's consistent drive towards perfection. It's adherence to total
quality management systems using hi-end infrastructure and methodologies has
enabled it to develop products that fully ensure customer and user
satisfaction.
At Shakti Bio
Science the process of Quality control begins right from vendor selection and
process up to finished products. A fully equipped quality control laboratory
ensures the suitability of input materials and monitors the progress of
reactions at every stage till the final finished products.
Environmental Endeavors
A full fledge Effluent treatment facility is established in the factory
to treat the liquid and gaseous emissions. The treated stream is connected to
the common effluent treatment plant (CETP) of the industrial area for final
discharge.
The company follows a formal Safety, Health and Environment policy in
order to ensure a clean and green environment. Some of the parameters which are
monitored indicate
·
Waste Water discharge
·
Energy usage
·
Hazardous and non hazardous waste disposal.
·
Water usage
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. 50.27 |
|
|
1 |
Rs. 80.07 |
|
Euro |
1 |
Rs. 68.44 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
31 |
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.