MIRA
INFORM REPORT
|
Report Date : |
05.10.2011 |
IDENTIFICATION DETAILS
|
Name : |
RISHI FIBC SOLUTIONS PRIVATE LIMITED |
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Registered Office : |
Indra Complex, 7th Floor, Sindhwai Mata Cross Road,
Manjalpur, Vadodara- 390004, Gujarat |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
06.02.2007 |
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Com. Reg. No.: |
04-049943 |
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Capital Investment
/ Paid-up Capital : |
Rs. 130.000 Millions |
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|
|
CIN No.: [Company
Identification No.] |
U25209GJ2007PTC049943 |
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|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
BRDR01529D |
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PAN No.: [Permanent
Account No.] |
AADCR5130N |
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|
Legal Form : |
Private Limited Liability Company |
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|
Line of Business : |
Manufacturer, Exporter and Importer of Flexible Intermediate Bulk
Containers. |
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|
No. of Employees
: |
900 (In Office-70 and In Factory-830) (Approximately) |
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 |
|
Maximum Credit Limit : |
USD 590000 |
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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. The company is
progressing well. Trade relations are reported as fair. Business is active.
Payments are reported to be slow but correct. The company can be considered for small to mediocre 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.
INFORMATION PARTED BY
|
Name : |
Mr. Alok Rathi |
|
Designation : |
Senior Manager Finance |
|
Contact No.: |
91-9328452991 |
|
Date : |
04.10.2011 |
LOCATIONS
|
Registered Office : |
Indra Complex, 7th Floor, Sindhwai Mata Cross Road,
Manjalpur, Vadodara- 390004, Gujarat, India |
|
Tel. No.: |
91-265-2651636/ 2657125 |
|
Mobile No.: |
91-9328452991 (Mr. Alok Rathi) |
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Fax No.: |
91-265-2635870 |
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E-Mail : |
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Website : |
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Area : |
2000 Sq. ft (Approximately) |
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Location : |
Owned by Group Companies |
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Factory : |
Mahuvad-Ranu Road, Ranu, 139 and 1144, Vadodara- 391440, Gujarat,
India |
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Tel. No.: |
91-2662-305000 |
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Fax No.: |
91-2662-305015 |
|
Area : |
200000 Sq. ft |
|
Location : |
Owned |
DIRECTORS
As On 15.09.2011
|
Name : |
Mr. Arvind Narayanprasad Nopany |
|
Designation : |
Managing Director |
|
Address : |
11-A, Nilamber Banglows-1, Sayed, Vasna Road, Vadodara- 390015,
Gujarat, India |
|
Date of Birth/Age : |
29.03.1965 |
|
Qualification : |
MBA from |
|
Date of Appointment : |
06.02.2007 |
|
DIN No.: |
00148521 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U25209GJ1985PTC008002 |
Garrison
Polysacks Private Limited |
Managing
director |
09-10-91 |
09-10-91 |
Active |
NO |
|
2 |
U67190WB1995PLC067808 |
Ginni
Securities Limited |
Director |
25-01-95 |
25-01-95 |
Active |
NO |
|
3 |
L28129MH1984PLC032008 |
Rishi
Techtex Limited |
Director |
15-07-02 |
15-07-02 |
Active |
NO |
|
4 |
U51909GJ1989PTC054670 |
Dan Cement
Trading Private Limited |
Director |
01-05-05 |
01-05-05 |
Active |
NO |
|
5 |
U70100MH1979PLC021499 |
Radha
Madhav Investments Limited |
Director |
28-04-06 |
28-04-06 |
Active |
NO |
|
6 |
U65990MH1980PLC023151 |
Gacl
Finance Limited |
Director |
29-05-06 |
29-05-06 |
Active |
NO |
|
7 |
U67120MH1991PLC064184 |
Ican
Investments Limited |
Director |
28-08-06 |
28-08-06 |
Active |
|
|
8 |
U74140MH2006PLC164912 |
Radha
Madhav Advisory Services Limited |
Director |
25-09-06 |
25-09-06 |
Active |
|
|
9 |
U25209GJ2007PTC049943 |
Rishi
Fibc Solutions Private Limited |
Managing
director |
21-11-07 |
06-02-07 |
Active |
NO |
|
10 |
U45200MH2008PLC183654 |
Madhav
Holdings Limited |
Director |
18-06-08 |
18-06-08 |
Active |
NO |
|
Name : |
Mr. Joseph Francis |
|
Designation : |
Whole Time Director |
|
Address : |
B- 4, Arunoday Society, R.C. Dutt Road, Alkapuri, Vadodara- 390005,
Gujarat, India. |
|
Date of Birth/Age : |
31.05.1967 |
|
Date of Appointment : |
19.12.2007 |
|
DIN No.: |
01821357 |
|
|
|
|
Name : |
Mr. Harshad B Patel |
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Designation : |
Director |
|
Address : |
8-B, Suvas Apartment 68F, Neapean Sea Road, Mumbai- 400006,
Maharashtra, India. |
|
Date of Birth/Age : |
06.05.1957 |
|
Qualification : |
Chartered Accountant |
|
Date of Appointment : |
06.02.2007 |
|
DIN No.: |
00164228 |
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 |
L28129MH1984PLC032008 |
Rishi
Techtex Limited |
Managing
director |
07-02-84 |
07-02-84 |
- |
Active |
NO |
|
2 |
U25209GJ1985PTC008002 |
Garrison
Polysacks Private Limited |
Director |
09-10-91 |
09-10-91 |
- |
Active |
NO |
|
3 |
L99999MH1992PLC066412 |
Rishi
Laser Limited |
Managing
director |
01-04-11 |
20-01-93 |
- |
Active |
NO |
|
4 |
U24114MP2000PTC014157 |
M.P.Dyechem
Industries Private Limited |
Director |
05-04-00 |
05-04-00 |
- |
Active |
NO |
|
5 |
U91990MH2005NPL158157 |
Agri
Nets Manufacturers Association |
Director |
20-12-05 |
20-12-05 |
- |
Active |
NO |
|
6 |
U25209GJ2007PTC049943 |
Rishi
Fibc Solutions Private Limited |
Director |
06-02-07 |
06-02-07 |
- |
Active |
NO |
|
7 |
U93000MH2007PTC175056 |
Rishi
Technical Services Private Limited |
Director |
16-10-07 |
16-10-07 |
02-02-09 |
Active |
NO |
|
8 |
U28112MH2008PTC178448 |
Rishi
Consfab Private Limited |
Director |
01-02-08 |
01-02-08 |
- |
Active |
NO |
|
9 |
U91900MH2008NPL179387 |
Metal
Cutting And Fabricators Association Of India |
Director |
25-02-08 |
25-02-08 |
- |
Active |
NO |
|
10 |
U24134MP2011PTC026803 |
Xcel
Polymer Products Private Limited |
Director |
23-09-11 |
23-09-11 |
- |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Mr. Joseph Francis |
|
Designation : |
Chief Executive Officer |
|
|
|
|
Name : |
Mr. Rohit Trivedi |
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Designation : |
Senior Vice president- Exports |
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|
Name : |
Mr. Prashant |
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Designation : |
Senior Accountant |
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|
|
|
Name : |
Mr. Alok Rathi |
|
Designation : |
Senior Manager Finance |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As On 15.09.2011
|
Names of Shareholders |
No. of Shares |
|
Arvind Narayanprasad Nopany |
7873900 |
|
Harshad B Patel |
100 |
|
Joseph Francis |
1000000 |
|
Devyani Nopany |
40000 |
|
Rishi Nopany |
10000 |
|
Nalini Sekhsaria |
4000000 |
|
Rohit Trivedi |
46000 |
|
Ashutosh K Roy |
30000 |
|
TOTAL |
13000000 |
As On 15.09.2011
|
Category |
Percentage |
|
Directors or relatives of Directors |
99.42 |
|
Other top fifty shareholders |
0.58 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of Flexible Intermediate Bulk
Containers. |
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|
|
|
Products : |
v
Conductive Bag v
Coated/ Uncoated Circular Bag v
Single loop Bag v
Peanut Bag v
Dissipative Bag v
U Panel Bag v
2 v
Asbestos Bag v
Baffle or Q Bag v
4 Panel Bag v
Baffle Liner |
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Exports : |
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Products : |
Fibc Bags |
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Countries : |
v
v
France v
UK v
Netherland |
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Imports : |
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Products : |
Raw Material |
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Countries : |
v
Oman v
Dubai v
Singapore |
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Terms : |
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Selling : |
L/C, Cash, Credit (30 days) |
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Purchasing : |
L/C, Cash, Credit (30 days) |
GENERAL INFORMATION
|
Customers : |
Wholesalers |
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No. of Employees : |
900 ( In Office 70 In Factory 830) (Approximately) |
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Bankers : |
v
State Bank of India- Industrial Finance Branch,
Marble Arch, Race Course Circle, Baroda- 390023, Gujarat, India. v
HDFC Bank Limited- HDFC Bank House, Senapati
Bapat Marg, Lower Parel- West, Mumbai- 400013, |
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Facilities : |
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Banking Relations
: |
-- |
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Auditors : |
|
|
Name : |
S.G. Bhagwat Chartered Accountant |
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Address : |
116-118, race |
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Tel. No.: |
91-265-5621591/ 5621592 |
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E-Mail : |
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Associates/Subsidiaries : |
v
Garrison Polysacks Private Limited Address: Vadodara Activity: Manufacturer of Cement Bags. v
Dan Cement Trading Limited |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
15000000 |
Equity Shares |
Rs.10/- Each |
Rs. 150.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
13000000 |
Equity Shares |
Rs.10/- Each |
Rs. 130.000
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 |
130.000 |
130.000 |
50.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
19.038 |
0.906 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
(1.897) |
|
|
NETWORTH |
149.038 |
130.906 |
48.103 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
273.026 |
190.882 |
121.484 |
|
|
2] Unsecured Loans |
72.001 |
60.174 |
35.701 |
|
|
TOTAL BORROWING |
345.027 |
251.056 |
157.185 |
|
|
DEFERRED TAX LIABILITIES |
6.550 |
0.933 |
1.434 |
|
|
|
|
|
|
|
|
TOTAL |
500.615 |
382.895 |
206.722 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
365.678 |
339.991 |
90.168 |
|
|
Capital work-in-progress |
0.000 |
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 |
58.962
|
30.599
|
10.980 |
|
|
Sundry Debtors |
82.957
|
5.527
|
11.092 |
|
|
Cash & Bank Balances |
11.421
|
11.089
|
7.363 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
45.407
|
26.328
|
96.442 |
|
Total
Current Assets |
198.747
|
73.543
|
125.877 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
30.450
|
10.611
|
6.378 |
|
|
Other Liabilities |
33.623
|
17.252
|
3.753 |
|
|
Provisions |
3.077
|
7.107
|
1.588 |
|
Total
Current Liabilities |
67.150
|
34.970
|
11.719 |
|
|
Net Current Assets |
131.597
|
38.573
|
114.158 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
3.340 |
4.331 |
2.396 |
|
|
|
|
|
|
|
|
TOTAL |
500.615 |
382.895 |
206.722 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
|
|
|
|
|
|
|
|
Total Income |
486.233 |
156.383 |
55.719 |
|
|
|
TOTAL |
486.233 |
156.383 |
55.719 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Expenses |
453.008 |
149.376 |
54.942 |
|
|
|
TOTAL |
453.008 |
149.376 |
54.942 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
33.225 |
7.007 |
0.777 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
15.211 |
3.273 |
0.695 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
18.014 |
3.734 |
0.082 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
9.501 |
0.932 |
1.979 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) AFTER
TAX |
8.513 |
2.802 |
(1.897) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.65 |
0.22 |
(0.38) |
|
|
Particulars |
|
|
31.03.2011 |
|
Sales Turnover (Approximately) |
|
|
770.000 |
|
|
|
|
|
Expected Sales (2011-2012) : Rs. 1000.000 millions.
The above information has been parted by Mr. Alok.
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
1.75
|
1.79
|
(3.40) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.19
|
0.99
|
0.04 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.12
|
0.03
|
0.002 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.76
|
2.18
|
3.51 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.96
|
2.10
|
10.74 |
LOCAL AGENCY FURTHER INFORMATION
Sundry Creditors
Details
(Rs. In Millions)
|
Years |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Sundry Creditors |
30.450
|
10.611
|
6.378 |
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
1. Year of Establishment |
Yes |
|
2. Locality of the firm |
Yes |
|
3. Constructions of the firm |
Yes |
|
4. Premises details |
Yes |
|
5. Type of Business |
Yes |
|
6. Line of Business |
Yes |
|
7. Promoter’s background |
------ |
|
8. No. of Employees |
Yes |
|
9. Name of person contacted |
Yes |
|
10. Designation of contact person |
Yes |
|
11. Turnover of firm for last three years |
Yes |
|
12. Profitability for last three years |
Yes |
|
13. Reasons for variation <> 20% |
----- |
|
14. Estimation for coming financial year |
Yes |
|
15. Capital in the business |
Yes |
|
16. Details of sister concerns |
Yes |
|
17. Major suppliers |
No |
|
18. Major customers |
No |
|
19. Payments terms |
Yes |
|
20. Export / Import details |
Yes |
|
21. Market information |
----- |
|
22. Litigations that the firm / promoter involved |
----- |
|
23. Banking Details |
Yes |
|
24. Banking facility details |
Yes |
|
25. Conduct of the banking account |
----- |
|
26. Buyer visit details |
----- |
|
27. Financials, if provided |
No |
|
28. Incorporation details, if applicable |
Yes |
|
29. Last accounts filed at ROC |
Yes |
|
30. Major Shareholders, if available |
Yes |
OPERATION AND
FINANCIAL
The company has achieved turnover of Rs. 486.233 millions during the current
year and has incurred net profit of Rd. 8.513 millions.
The directors do not recommend any dividend for the current year. The
company had not accepted any deposit from the public during the year.
FORM 8
|
This form is for |
Modification of charge |
|
Corporate
identity number of the company |
U25209GJ2007PTC049943 |
|
Name of the
company |
RISHI FIBC SOLUTIONS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Indra Complex, 7th floor, Sindhwai Mata Cross Road,
Manjalpur, Vadodara- 390004, Gujarat, India. |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
State Bank of India- Industrial Finance Branch,
Mable Arch, Race Cource Circle, Vadodara- 390023, Gujarat, India. |
|
Nature of
description of the instrument creating or modifying the charge |
Memorandum of
Deposit of title deeds for creation of charge for term loan/ overall limit. |
|
Date of instrument
Creating the charge |
03.09.2010 |
|
Amount secured by
the charge |
Rs.479.600
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of
Interest: INT on
TL-III-4.75% above base rate i.e 12.25% p.a. INT on CC-4.25%
above base rate i.e 11.75% p.a. with monthly rest. Terms of
Repayment : For Term Loan I
and II: As per existing terms and conditions For Term Loan III
: (Rs. 66.600 millions) Total sixty
monthly installments. First installment due in April 2011 and last installment will be due in March, 2016. Margin: Raw Materials ( Domestic Imported) - 25% Stock In Progress - 25% Finished Goods - 25% Receivables (Cover Period 90 Days) - 35% EPC - 10% Letter Of Credit - 10% Bank Guarantee - 10% Term Loan - 33.40% Extent and
Operation of the charge: Extension of
Equitable Mortgage Originally Created on 13/08/2009, Modified on 21.01.2010
And Now Further Modified To Secure Various Enhanced And Additional Credit
Facilities Amounting To Rs.479.600 millions By Way of Memorandum Relating To
Deposit of Title Deeds on 03.09.2010. |
|
Short particulars
of the property charged |
|
|
Charge
identification number of the charge to be modified |
10172479 |
|
Date of
instrument modifying the charge |
21.01.2010 |
|
Particulars of
the present modification |
The charge
originally created by way of memorandum of deposit of title deeds dated 13.08.2009
which was earlier modified on 21.01.2010 is now further modified to secure
additional as well as enhanced credit facilities from Rs. 330.000 millions to
Rs. 479.600 millions. |
FIXED ASSETS:
v Land and Land Development
v Building
v Vehicles
v Computers Peripherals
v Electrical Installation
v Furniture and Fixtures
v Office Equipments
v Plant and Machinery
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.49.22 |
|
|
1 |
Rs.76.06 |
|
Euro |
1 |
Rs.65.06 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--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.