MIRA
INFORM REPORT
|
Report Date : |
08.10.2011 |
IDENTIFICATION DETAILS
|
Name : |
VERSATILE CHEMICALS LIMITED |
|
|
|
|
Formerly Known
As : |
VERSATILE ENGINEERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No.D-152, Additional Industrial Area, Avadhan, MIDC,
Dhule-424006, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
05.08.1985 |
|
|
|
|
Com. Reg. No.: |
11-037043 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 18.950 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74210MH1985PLC037043 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
NSKV02128A |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of specialty chemicals, fatty acids etc. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 130000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
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 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.
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 / Administrative Office / Factory : |
Plot No.D-152, Additional Industrial Area, Avadhan, MIDC, Dhule-424006,
Maharashtra, India |
|
Tel. No.: |
91-2562-239740 |
|
Fax No.: |
91-2562-239740 |
|
E-Mail : |
|
|
Website: |
DIRECTORS
AS ON 29.12.2010
|
Name : |
Mr. Vijay Palkar |
|
Designation : |
Director |
|
Address : |
Laxmi Terrace, 73,Ranade
Road, Shivaji Park, Dadar Mumbai-400028, Maharashtra, India |
|
Date of Birth/Age : |
25.02.1953 |
|
Date of Appointment : |
01.04.1995 |
|
DIN No.: |
00136027 |
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 |
U67120MH1993PTC070686 |
Techno
Holdings (India) Private Limited |
Director |
05-02-93 |
05-02-93 |
Active |
NO |
|
2 |
U67120MH1993PTC070687 |
Techno
Securities (India) Private Limited |
Director |
05-02-93 |
05-02-93 |
Active |
NO |
|
3 |
U65944MH1993PTC072812 |
Palkar
Finance And Consultancy Services Private Limited |
Director |
13-07-93 |
13-07-93 |
Active |
NO |
|
4 |
L99999MH1992PLC070022 |
Indo
Amines Limited |
Managing
director |
01-04-08 |
19-02-94 |
Active |
NO |
|
5 |
U74210MH1985PLC037043 |
Versatile
Chemicals Limited |
Director |
01-04-95 |
01-04-95 |
Active |
NO |
|
6 |
U93000MH2010PTC211364 |
Bharati
Arts Private Limited |
Director |
25-12-10 |
25-12-10 |
Active |
NO |
|
7 |
U51101MH2011PTC222177 |
Palkar
Commercials Private Limited |
Director |
20-09-11 |
20-09-11 |
Active |
NO |
|
Name : |
Mrs. Bharati Palkar |
|
Designation : |
Director |
|
Address : |
Laxmi Terrace,
73,Ranade Road, Shivaji Park, Dadar Mumbai-400028, Maharashtra, India |
|
Date of Birth/Age : |
30.04.1954 |
|
Date of Appointment : |
01.04.1992 |
|
DIN No.: |
00136185 |
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 |
U24230MH1985PTC036077 |
Oleo
Formulations Private Limited |
Director |
01-04-92 |
01-04-92 |
Amalgamated |
NO |
|
2 |
U74210MH1985PLC037043 |
Versatile
Chemicals Limited |
Director |
01-04-92 |
01-04-92 |
Active |
NO |
|
3 |
U65944MH1993PTC072812 |
Palkar
Finance And Consultancy Services Private Limited |
Director |
01-04-97 |
01-04-97 |
Active |
NO |
|
4 |
U67120MH1993PTC070686 |
Techno
Holdings (India) Private Limited |
Director |
01-04-97 |
01-04-97 |
Active |
NO |
|
5 |
U67120MH1993PTC070687 |
Techno
Securities (India) Private Limited |
Director |
01-04-97 |
01-04-97 |
Active |
NO |
|
6 |
L99999MH1992PLC070022 |
Indo
Amines Limited |
Whole-time
director |
01-07-09 |
01-07-97 |
Active |
NO |
|
7 |
U93000MH2010PTC211364 |
Bharati
Arts Private Limited |
Director |
25-12-10 |
25-12-10 |
Active |
NO |
|
8 |
U51101MH2011PTC222177 |
Palkar
Commercials Private Limited |
Director |
20-09-11 |
20-09-11 |
Active |
NO |
|
Name : |
Mr. Changdeo Kadam |
|
Designation : |
Director |
|
Address : |
H- 22, Sector
No.4, Aeroli, Navi Mumbai, Maharashtra, India |
|
Date of Birth/Age : |
01.04.1969 |
|
Date of Appointment : |
01.10.2006 |
|
DIN No.: |
00807296 |
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 |
U74210MH1985PLC037043 |
Versatile
Chemicals Limited |
Director |
01-10-06 |
01-10-06 |
Active |
NO |
|
2 |
L99999MH1992PLC070022 |
Indo
Amines Limited |
Director |
30-09-09 |
29-12-08 |
Active |
NO |
|
Name : |
Mr. Rahul Palkar |
|
Designation : |
Director |
|
Address : |
Laxmi Terrace,
73,Ranade Road, Shivaji Park, Dadar Mumbai-400028, Maharashtra, India |
|
Date of Birth/Age : |
25.09.1979 |
|
Date of Appointment : |
09.06.2008 |
|
DIN No.: |
00325590 |
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 |
L99999MH1992PLC070022 |
Indo
Amines Limited |
Whole-time
director |
01-04-08 |
19-02-94 |
Active |
NO |
|
2 |
U24230MH1985PTC036077 |
Oleo
Formulations Private Limited |
Director |
01-11-97 |
01-11-97 |
Amalgamated |
NO |
|
3 |
U74210MH1985PLC037043 |
Versatile
Chemicals Limited |
Director |
30-09-08 |
09-06-08 |
Active |
NO |
|
Name : |
Mr. Sanjay Chougale |
|
Designation : |
Additional
Director |
|
Address : |
Sai Apartment, Ashok Nagar F/135/3 Plot No.25 Flat 201 Dhule-424001,
Maharashtra, India |
|
Date of Birth/Age : |
20.05.1968 |
|
Date of Appointment : |
01.01.2010 |
|
DIN No.: |
02439867 |
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 |
U24230MH1985PTC036077 |
Oleo
Formulations Private Limited |
Director |
03-11-97 |
03-11-97 |
Amalgamated |
NO |
|
2 |
U74210MH1985PLC037043 |
Versatile
Chemicals Limited |
Director |
29-12-10 |
01-01-10 |
Active |
NO |
|
Name : |
Mr. Shrirang Joshi |
|
Designation : |
Director |
|
Address : |
H. No. 20/B,
Lane No.1, Subhash Nagar Old Dhule-424001, Maharashtra, India |
|
Date of Birth/Age : |
29.05.1970 |
|
Date of Appointment : |
01.11.2000 |
|
DIN No.: |
03023727 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.12.2010
|
Names of Shareholders |
No. of Shares |
|
Vijay Palkar |
86805 |
|
Bharati Palkar |
28785 |
|
Rahul Palkar |
2661 |
|
Sanjay Chougale |
246 |
|
Changdeo Kadam |
1 |
|
Ashwini Palkar |
1 |
|
Atul Palkar |
1 |
|
Palkar Finance and Consultancy Services Private Limited, India |
20000 |
|
Techno Holdings (India) Private Limited, India |
21000 |
|
Techno Securities (India) Private Limited, India |
30000 |
|
Total |
189500 |
AS ON 29.12.2010
|
Category |
Percentage |
|
Bodies corporate |
37.46 |
|
Directors or relatives of Directors |
62.54 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of specialty chemicals, fatty acids etc. |
PRODUCTION STATUS AS ON 31.03.2010
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
|
|
|
|
|
|
Fatty Acid |
MTPA |
NA |
3900 |
2459415 |
|
|
|
|
|
|
GENERAL INFORMATION
|
Bankers : |
·
State Bank of India, MID Corporate Loan Admin,
Unit Shri Hari Building, RTO Lane, Four Bungalows, Andheri (West),
Mumbai-400053, Maharashtra, India ·
Dombivali Nagari Sahakari Bank Limited,
Madhukunj, Plot No. P/52, MIDC, PhaseII, Kalyan – Shil Road, Dombivali
(East), Mumbai-421204, Maharashtra, India · Citi Bank · HDFC Bank Limited |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
A V Khatu and Company Chartered Accountant |
|
Address : |
407, Yashshree Co-operative Housing Society, Plot No.l55, Sector-8/A,
Airoli-400708, Navi Mumbai, Maharashtra, India |
|
PAN No.: |
AGZPK6866H |
|
|
|
|
Related Party : |
·
Indo Amines Limited |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000 |
Equity Shares |
Rs.100/- each |
Rs. 20.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
186000 |
Equity Shares |
Rs.100/-
each |
Rs. 18.600
Millions |
|
3500 |
Shares to be issued to the shareholders of
Transferor Company on Amalgamation |
Rs. 100/-
each |
Rs. 0.350
Million |
|
|
Total |
|
Rs. 18.950 Millions |
AS ON 29.12.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
405000 |
Equity Shares |
Rs.100/- each |
Rs. 40.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
198875 |
Equity Shares |
Rs.100/- each |
Rs. 19.887 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 |
18.950 |
19.000 |
18.100 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
15.571 |
12.913 |
9.594 |
|
|
4] (Accumulated Losses) |
0.000 |
(2.249) |
0.000 |
|
|
NETWORTH |
34.521 |
29.664 |
27.694 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
16.748 |
14.775 |
12.136 |
|
|
2] Unsecured Loans |
1.675 |
2.451 |
3.101 |
|
|
TOTAL BORROWING |
18.423 |
17.226 |
15.237 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
52.944 |
46.890 |
42.931 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
33.120 |
28.431 |
23.770 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
10.102 |
6.345 |
3.299 |
|
|
DEFERREX TAX ASSETS |
1.800 |
1.873 |
0.789 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
6.473
|
6.256 |
6.849 |
|
|
Sundry Debtors |
26.657
|
1.212 |
39.449 |
|
|
Cash & Bank Balances |
0.940
|
1.860 |
0.425 |
|
|
Other Current Assets |
4.883
|
5.063 |
2.847 |
|
|
Loans & Advances |
0.000
|
18.600 |
20.661 |
|
Total
Current Assets |
38.953
|
32.991 |
70.231 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
29.002
|
21.556 |
53.016 |
|
|
Other Current Liabilities |
0.000
|
0.000 |
0.000 |
|
|
Provisions |
2.203
|
1.403 |
2.386 |
|
Total
Current Liabilities |
31.205
|
22.959 |
55.402 |
|
|
Net Current Assets |
7.748
|
10.032 |
14.829 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.174 |
0.209 |
0.244 |
|
|
|
|
|
|
|
|
TOTAL |
52.944 |
46.890 |
42.931 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales and Services |
117.307 |
78.565 |
86.684 |
|
|
|
Other Income |
0.938 |
0.093 |
0.442 |
|
|
|
Trading Sales |
0.000 |
33.086 |
95.570 |
|
|
|
TOTAL (A) |
118.245 |
111.744 |
182.696 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Material Consumed |
101.159 |
66.755 |
70.465 |
|
|
|
Trading Purchase |
0.000 |
32.925 |
94.974 |
|
|
|
Administrative Expenses |
9.578 |
7.768 |
9.491 |
|
|
|
Selling and Distribution Expenses |
0.838 |
0.611 |
0.575 |
|
|
|
Pre-Operative Expenses W/Off |
0.035 |
0.056 |
0.035 |
|
|
|
Increase / Decrease in Stock |
(0.207) |
(1.337) |
0.002 |
|
|
|
TOTAL (B) |
111.403 |
106.778 |
175.542 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
6.842 |
4.966 |
7.154 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1.479 |
1.471 |
0.948 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
5.363 |
3.495 |
6.206 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2.528 |
2.629 |
2.400 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
2.835 |
0.866 |
3.806 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.576 |
(0.683) |
(0.491) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
2.259 |
1.549 |
4.297 |
|
|
|
|
|
|
|
|
|
|
EXPORT VALUE |
0.000 |
0.113 |
1.480 |
|
|
|
|
|
|
|
|
|
|
IMPORTS VALUE |
3.848 |
0.000 |
1.386 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
11.92 |
5.60 |
23.74 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
1.91
|
1.39 |
2.35 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.42
|
0.78 |
2.09 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.84
|
1.37 |
4.02 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08
|
0.03 |
0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.44
|
1.35 |
2.55 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.25
|
1.44 |
1.27 |
LOCAL AGENCY FURTHER INFORMATION
SCHEME OF AMALGAMATION:
In accordance with the scheme of Amalgamation u/s 391 to 394 of the
Companies Act, 1956 sanctioned by the hon’ble Bombay High Court vide their
order dated 26th November, 2010, M/s Oleo Formulations Private
Limited haven been amalgamated with M/s Versatile Chemicals Limited with effect
from 1st April, 2009. M/s Oleo Formulations Private Limited
(Transferor Company) is in the same line of business as that of Versatile
Chemicals Limited and having manufacturing unit at Dhule MIDC. The said amalgamation
will enhance the production capacity of the company.
FORM 8
|
Corporate
identity number of the company |
U74210MH1985PLC037043 |
|
Name of the
company |
VERSATILE
CHEMICALS LIMITED |
|
Address of the registered
office or of the principal place of
business in |
Plot No.D-152, Additional Industrial Area, Avadhan, MIDC, Dhule-424006, Maharashtra, India |
|
This form is for |
Creation of
charge |
|
Type of charge |
Movable property (not
being pledge) Others |
|
Particular of
charge holder |
Dombivali Nagari Sahakari Bank Limited, Madhukunj, Plot No.P/52, MIDC,
PhaseII, Kalyan – Shil Road, Dombivali (East), Mumbai-421204, Maharashtra,
India |
|
Nature of
instrument creating charge |
Omposit Deed of
Hypothecation For Rs.2.000 millions (
Purchase of New Generator Set) |
|
Date of
instrument Creating the charge |
25.01.2011 |
|
Amount secured by
the charge |
Rs. 2.000
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest 12% P.A. Terms of repayment To Be Repaid
Within 24 Months With Emi of Rs. 0.095 million Margin 20% Extent and operation of the charge Rs. 2.000
millions and operation of charge on newly purchased generator set. |
|
Short particulars
of the property charged (Including location of the property) |
Newly Purchased
Generator Set And Other Hypothecated Assets As Mentioned In The Composite
Deed of Hypothecation. |
FIXED ASSETS
·
Land and Shed
·
Staff Quarter
·
Plant and Machinery
·
Civil Construction
·
Motor Car
·
Cycles
·
Factory Building
·
Electrical Installation
·
Laboratory Equipment
·
Office Furniture
·
Fax Machine
·
Colour TV
·
Refrigerator
·
Scooters
·
Furniture and Fixtures
·
Air Conditioner
·
Typewriter
·
Computer
·
Goodwill
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. 49.13 |
|
|
1 |
Rs. 75.97 |
|
Euro |
1 |
Rs. 65.99 |
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 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
29 |
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.