MIRA
INFORM REPORT
|
Report Date : |
13.10.2011 |
IDENTIFICATION DETAILS
|
Name : |
ACME CHEM LIMITED |
|
|
|
|
Registered
Office : |
9A, Saketho Chi Minh Sarani, Kolkata – 700012, West Bengal |
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Country : |
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|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
21.07.1992 |
|
|
|
|
Com. Reg. No.: |
21-055994 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.58.217 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24118WB1992PLC055994 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCA3931B |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer and Exporter of fine and performance chemicals for the
Rubber Industry. |
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|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2400000 |
|
|
|
|
Status : |
Satisfactory |
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|
|
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and a reputed company having satisfactory
track. Directors are reported to be experienced and respectable businessmen.
Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
9A, Saketho Chi Minh Sarani, Kolkata – 700012, West Bengal |
|
Tel. No.: |
91-33-22826195/6285/1050/26224355 |
|
Mobile No.: |
91-9830041000 (Mr. Narain Holani) |
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Fax No.: |
91-33-22369631/22826285 |
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E-Mail : |
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Website : |
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|
Factory : |
412, GIDC Estate, Panoli – 394116, Ankleshwar, Bharuch, Gujarat, India |
|
Tel. No.: |
91-2646-272393/272394 |
|
Fax No.: |
91-2646-272393/245772 |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Narain Holani |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
9A, Saker Apartment 2, Ho Chi Minh Sarani, Kolkata – 700071, West
Bengal, India |
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|
Date of Appointment : |
21.07.1992 |
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DIN No.: |
00397044 |
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Other Directorship :
|
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Name : |
Mrs. Varsha Holani |
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|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
9A, Saker Apartment 2, Ho Chi Minh Sarani, Kolkata – 700071, West
Bengal, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
21.07.1992 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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DIN No.: |
00397144 |
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Other Directorship :
|
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|
Name : |
Mrs. Aditi Holani |
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Designation : |
Director |
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|
Address : |
9A, Saker Apartment 2, Ho Chi Minh Sarani, Kolkata – 700071, West
Bengal, India |
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|
Date of Appointment : |
01.04.2005 |
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DIN No.: |
00396932 |
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|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Name : |
Mr. Bhanwarlal Joshi |
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|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
161, Rachna Nagar Society, Face no. 4, Bharuach – 392002, Gujarat,
India |
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Date of Appointment : |
30.11.2006 |
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DIN No.: |
00407392 |
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|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Shrikant Virendra Hajarins |
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|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
10, Kanakaditya, Sahayog Mandir Path, Ghantali, Thane (West) – 400602,
Maharashtra, India |
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Date of Birth/Age : |
14.11.1942 |
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Date of Appointment : |
01.04.2009 |
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DIN No.: |
02594177 |
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
No. of Shares |
|
Narain Holani |
897000 |
|
Varsha Holani |
1068300 |
|
Lesha Commercial Private Limited, India |
66100 |
|
Narain Holani (HUF) |
1814500 |
|
Adirish Properties Private Limited, India |
1975800 |
|
Rishabh Holani |
10 |
|
Aditi Holani |
10 |
|
Total |
5821720 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2010
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
|
|
Bodies corporate |
35.07 |
|
Directors or relatives of Directors |
64.93 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of fine and performance chemicals for the
Rubber Industry. |
||||
|
|
|
||||
|
Products : |
|
PRODUCTION STATUS AS ON 31.03.2010
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Goods Manufactured |
M. T. |
NA |
11000 |
|
|
Peptizer |
M. T. |
NA |
NA |
#838.300 |
|
DBD |
M. T. |
NA |
NA |
##170.070 |
|
Antioxident |
M. T. |
NA |
NA |
*2143.527 |
|
Retarder |
M. T. |
NA |
NA |
**4.020 |
|
Accelerator |
M. T. |
NA |
NA |
^627.424 |
|
Acmetol |
M. T. |
NA |
NA |
^^^45.004 |
|
Intermediaries and Others |
M. T. |
NA |
NA |
NA |
Note :
# Excludes 214.825 MT (P. Y. 44.142 MT) used
for Captive Consumption
## Excludes 123.635 MT (P. Y. 118.819 MT) used
for Captive Consumption
* Excludes 632.650 MT (P. Y. 412.106 MT) used
for Captive Consumption
** Excludes 0.183 MT (P. Y. 0.500 MT) used for
Captive Consumption
^ Excludes 21.588 MT (P. Y. 21.490 MT) used
for Captive Consumption
^^ Excludes Nil (P. Y. 194.016 MT) used for
Captive Consumption
^^^ Excludes 1.687 MT (P. Y. 194.016 MT) used
for Captive Consumption
GENERAL INFORMATION
|
Customer : |
·
Apollo Tyres Limited ·
Birla Tyres ·
Associated Motorways Limited ·
MRF Limited ·
Jafferjee Brothers Exports Private Limited ·
Vikrant Tyres Limited ·
Lehmann and Voss and Company ·
J.K. Industries Limited ·
Global Rubber Industries Private Limited ·
Indag Rubber Limited ·
Ceat Limited ·
Falcon Tyres Limited |
|||||||||||||||||||||||||||
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|
|
|||||||||||||||||||||||||||
|
No. of Employees : |
Not Divulged |
|||||||||||||||||||||||||||
|
|
·
|
|||||||||||||||||||||||||||
|
Bankers : |
·
Citi Bank N.A, Kanak Building, 41, Chowringhee
Road, Kolkata – 700071, West Bengal, India ·
ABN Amro Bank N. V, Hansalya Building, 15 Barakhamba
Road, New Delhi – 110001, Delhi, India ·
Oriental Bank of Commerce, Loheipura,
Baroda-390001, ·
The Royal Bank of Scotland |
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|
|
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Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
A. K. Tekriwal and Company Chartered Accountants |
|
Address : |
34, C. R. Avenue, Jabakusum House, 2nd Floor, Room No. 07,
Kolkata – 700012, West Bengal, India |
|
Tel. No.: |
91-33-22118809 |
|
Fax No.: |
91-33-22117142 |
|
E-Mail : |
|
|
PAN.: |
AAMFA5986H |
|
|
|
|
Holding Company : |
Alcon Goods and Commercial Services (Private) Limited |
|
|
|
|
Financial Institute : |
·
India Bulls Financial Services Limited ·
Life Insurance Corporation |
|
|
|
|
Subsidiaries : |
Emerald Heights Private Limited CIN No. U45400WB2007PTC116980 Rational Heights Private Limited CIN No. U70101WB2007PTC117631 |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
6000000 |
Equity Shares |
Rs.10/- each |
Rs.60.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5821720 |
Equity Shares |
Rs.10/- each |
Rs.58.217
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 |
58.217 |
53.336 |
45.406 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
544.516 |
416.580 |
415.161 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
602.733 |
469.916 |
460.567 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
60.186 |
49.232 |
50.553 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
60.186 |
49.232 |
50.553 |
|
|
DEFERRED TAX LIABILITIES |
1.941 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
664.860 |
519.148 |
511.120 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
157.730 |
42.827 |
47.032 |
|
|
Capital work-in-progress |
0.000 |
85.107 |
0.458 |
|
|
|
|
|
|
|
|
INVESTMENT |
369.056 |
337.891 |
409.459 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.484 |
0.024 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
63.427
|
36.899 |
32.457 |
|
|
Sundry Debtors |
137.279
|
127.287 |
105.273 |
|
|
Cash & Bank Balances |
19.514
|
9.758 |
19.538 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
132.302
|
102.831 |
99.264 |
|
Total
Current Assets |
352.522
|
276.775 |
256.532 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
48.763
|
29.527 |
77.979 |
|
|
Other Current Liabilities |
87.603
|
121.191 |
53.817 |
|
|
Provisions |
78.082
|
73.218 |
70.589 |
|
Total
Current Liabilities |
214.448
|
223.936 |
202.385 |
|
|
Net Current Assets |
138.074
|
52.839 |
54.147 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
664.860 |
519.148 |
511.120 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
554.148 |
438.201 |
356.259 |
|
|
|
Other Income |
32.868 |
5.846 |
76.180 |
|
|
|
TOTAL (A) |
587.016 |
444.047 |
432.439 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Increase/Decrease in Stock |
(7.466) |
1.671 |
3.991 |
|
|
|
Materials Consumed |
327.157 |
246.567 |
203.379 |
|
|
|
Manufacturing Expenses |
25.831 |
23.870 |
25.300 |
|
|
|
Payment to and Provision for Employees |
14.122 |
11.302 |
9.170 |
|
|
|
Selling, Administrative and Other
Expenses |
89.405 |
151.551 |
56.456 |
|
|
|
TOTAL (B) |
449.049 |
434.961 |
298.296 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
137.967 |
9.086 |
134.143 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
4.003 |
6.578 |
3.173 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
133.964 |
2.508 |
130.970 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
18.513 |
7.331 |
7.530 |
|
|
|
|
|
|
|
|
|
|
PROFIT/LOSS
BEFORE TAX AND PRIOR PERIOD ITEM
(G) |
115.451 |
(4.823) |
123.440 |
|
|
|
|
|
|
|
|
|
Less |
Prior Period
Adjustments (H) |
0.000 |
0.000 |
0.020 |
|
|
|
|
|
|
|
|
|
|
PROFIT/LOSS BEFORE TAX (G-H) (I) |
115.451 |
(4.823) |
123.420 |
|
|
|
|
|
|
|
|
|
Less |
TAX (J) |
29.425 |
(23.360) |
24.296 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
LOSS AFTER TAX (I-J)
(K) |
86.026 |
(28.183) |
99.124 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
288.435 |
318.737 |
221.812 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Income Tax/ FBT for Earlier Years |
0.315 |
0.558 |
0.068 |
|
|
|
Reversal of excess gratuity expenses for
earlier years |
0.000 |
0.000 |
(0.196) |
|
|
|
Proposed Dividend |
1.455 |
1.333 |
1.135 |
|
|
|
Corporate Dividend Tax |
0.247 |
0.227 |
0.193 |
|
|
|
Transfer to General Reserve |
1.000 |
0.000 |
1.000 |
|
|
BALANCE CARRIED
TO THE B/S |
371.444 |
288.436 |
318.736 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
On Export of Goods [FOB Value] |
56.864 |
66.568 |
92.958 |
|
|
TOTAL EARNINGS |
56.864 |
66.568 |
92.958 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
320.936 |
241.602 |
201.837 |
|
|
|
Stores & Spares |
2.744 |
1.616 |
0.641 |
|
|
|
Packing Materials |
6.220 |
4.965 |
4.542 |
|
|
TOTAL IMPORTS |
329.900 |
248.183 |
207.020 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
16.06 |
(6.26) |
22.85 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
13.63
|
6.35 |
22.92 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
20.83
|
1.10 |
34.64 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
22.63
|
1.51 |
40.66 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19
|
0.01 |
0.27 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.46
|
0.58 |
0.25 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.64
|
1.24 |
1.26 |
LOCAL AGENCY FURTHER INFORMATION
OPERATIONS
Sales
The performance
during the financial year has been impressive with a turnover of Rs.596.400
Millions recording an increase of more than 22 % over the previous year.
Production
The year has
recorded an overall increased level of production activity.
The company
continued to give emphasis to the up-gradation of it's products. It continues
to implement
improvements in
the various manufacturing stages, which are expected to give better yields in
the future.
Exports
Exports during the
year amounted to Rs.56.800 Millions. Exports sustained pressure due to the
Global Meltdown
and lack of
adequate demand from the foreign Customers.
FORM 8
|
Corporate
identity number of the company |
U24118WB1992PLC055994 |
|
Name of the
company |
ACME CHEM LIMITED |
|
Address of the
registered office or of the principal place of business in |
9A, Saketho Chi Minh Sarani, Kolkata – 700012, West Bengal, India Email Id : abcd@cal3.vsnl.net.in |
|
This form is for |
Creation of
charge |
|
Type of charge |
Immovable
property Book debts Others |
|
Particular of
charge holder |
Citi Bank N. A,
Kanak Building, 41, Chowringhee Road, Kolkata – 700071, West Bengal, India Email Id : roc@sdpa.in |
|
Nature of
instrument creating charge |
Goods Security
Agreement cum Loan Agreement for hypothecation of stocks, book debts, plant and
machinery and for property mortgage |
|
Date of
instrument Creating the charge |
01.10.2010 |
|
Amount secured by
the charge |
Rs.90.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest 10.50% per annum Terms of repayment Payable on
demand, annually renewable Margin 32% against the said plant and machinery 32% against the said stocks 32% against the said book debts 32% against the said fixed deposits 32% against the said property Extent and operation of the charge First exclusive
charge on: (i) Hypothecation
of all the borrower’s movable and non movable assets (including plant and
machinery, stocks and book debts) forming part of its current assets both
present and future. (ii) Equitable
mortgage on property including land and building situated at Plot No.2, 412
and 413, Panoli, GIDC, Taluka – Ankleshwar, Dist Bharuch -394116, Gujarat Other The charges mentioned in the clause no. 13(d) is secured in favour of Citi
Bank N. A Kolkata for the repayment of all monies in respect of the credit
facility, including outstanding balance and also all interest, costs, charges
and expenses |
|
Short particulars
of the property charged (Including location of the property) |
The whole of the
Borrower’s present and future stocks of raw materials, goods in process of
manufacture, semi finished goods All of the
Borrower’s present and future book debts, outstanding monies, receivables,
claims, bills, investments All the
Borrower’s present and future movable plant, machinery, vehicles and
equipments belonging to the Borrower Equitable
mortgage on property including land and building situated at Plot No. 2,412
and 413, Panoli, GIDC, Taluka – Ankleshwar, Dist. Bharuch – 394116, Gujarat |
WEB SITE DETAILS
PROFILE
FIXED ASSETS
·
Leasehold Land
·
Freehold Land
·
Factory Building
·
Guest House Building
·
Furniture and Fixtures
·
Plant and Machineries
·
Electric Installations
·
Office Equipments
·
Vehicles
·
Computer
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 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.49.24 |
|
|
1 |
Rs.76.80 |
|
Euro |
1 |
Rs.67.17 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
50 |
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.