MIRA
INFORM REPORT
|
Report Date : |
19.10.2011 |
IDENTIFICATION DETAILS
|
Name : |
UNIGLOBE PACKAGING PRIVATE LIMITED |
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Registered Office
: |
320-322, 3rd Floor, Arun Chambers, Tardeo Road,
Mumbai-400034, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
29.04.1999 |
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Com. Reg. No.: |
11-119671 |
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Capital
Investment / Paid-up Capital : |
Rs.14.834
Millions |
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CIN No.: [Company Identification
No.] |
U25202MH1999PTC119671 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMU03314D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Flexible Packaging Materials. |
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No. of Employees
: |
300 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 760000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to be
usually correct 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.
INFORMATION PARTED BY
|
Name : |
Mr. Ravi |
|
Designation : |
Purchase Manager |
|
Contact No.: |
91-22-67160100 |
|
Date : |
18.10.2011 |
LOCATIONS
|
Registered Office : |
320-322, 3rd Floor, Arun Chambers, Tardeo Road,
Mumbai-400034, Maharashtra, India |
|
Tel. No.: |
91-22-67160100 |
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Fax No.: |
Not Available |
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E-Mail : |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Chandhur Trikamdas Thadhani |
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Designation : |
Director |
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Address : |
2B, Cosmopolis L.D Ruparel Marg, Malabar Hills, Mumbai-400006,
Maharashtra, India |
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Date of Birth/Age : |
02.04.1927 |
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Date of Appointment : |
29.04.1999 |
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Din No.: |
00121819 |
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Other Directorship:
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Name : |
Mr. Rajiv T Thadhani |
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Designation : |
Director |
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Address : |
201, 2nd Floor, Green Acress, CHS Limited, Pali Hill,
Bandra (West), Mumbai-400050, Maharashtra, India |
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Date of Birth/Age : |
05.12.1962 |
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Date of Appointment : |
29.04.1999 |
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Din No.: |
00174398 |
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Other Directorship:
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Name : |
Mr. Vikram Chandhur Thadhani |
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Designation : |
Director |
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Address : |
2B, Cosmopolis L.D Ruparel Marg, Malabar Hills, Mumbai-400006,
Maharashtra, India |
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Date of Birth/Age : |
14.11.1970 |
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Date of Appointment : |
29.04.1999 |
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Din No.: |
00121753 |
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Other Directorship:
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Name : |
Mr. Praveen Chandhur Thadhani |
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Designation : |
Director |
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Address : |
2B, Cosmopolis L.D Ruparel Marg, Malabar Hills, Mumbai-400006,
Maharashtra, India |
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Date of Birth/Age : |
26.03.1967 |
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Date of Appointment : |
30.09.2004 |
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Din No.: |
01799791 |
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Name : |
Mr. Ram Tulsidas Punwani |
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Designation : |
Director |
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Address : |
Flat No. 5/6, Pali Hill, Niketan Co-Operative Housing Society Limited,
Nargis Dutt Road, Pali Hill, Bandra (West), Mumbai-400050, Maharashtra, India
|
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Date of Appointment : |
30.09.2004 |
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Din No.: |
01905563 |
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KEY EXECUTIVES
|
Name : |
Mr. Ravi |
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Designation : |
Purchase Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Chandhur T Thadhani |
|
497750 |
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Rajiv T Thadhani |
|
726800 |
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Vikram C Thadhani |
|
258850 |
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|
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Total |
|
1483400 |
As on 30.09.2010
|
Equity Share Breakup |
|
Percentage of Holding |
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Category |
|
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Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Flexible Packaging Materials. |
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Imports : |
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Products : |
Raw Material |
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Countries : |
·
Singapore ·
USA |
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Terms : |
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Selling : |
Cash and Credit (30 days) |
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Purchasing : |
L/C / Cash and Credit (30 days) |
GENERAL INFORMATION
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Customers : |
End Users and OEM’s |
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No. of Employees : |
300 [Approximately] |
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Bankers : |
·
Bank of India, SSI Andheri (East) Branch, Mathuria
Apartments, 49, Sir M.V. Road, Andheri, Mumbai-400069, Maharashtra, India ·
State Bank of India ·
Union Bank of India ·
Standard Chartered Bank |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Contractor Nayak and Kishnadwala Chartered Accountants |
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Address : |
Jash Chambers, 3rd Floor, 7A, Sir P.M. Road, Fort,
Mumbai-400001, Maharashtra, India |
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Tel. No.: |
91-22-66359681/82/83 / 66230600/22661819 |
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Fax No.: |
91-22-22615814 |
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Pan No.: |
AACFC8587E |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1483400 |
Equity Shares |
Rs.10/- each |
Rs.14.834
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 |
14.834 |
14.834 |
14.834 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
176.356 |
136.125 |
126.198 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
191.190 |
150.959 |
141.032 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
228.211 |
212.708 |
47.402 |
|
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
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TOTAL BORROWING |
228.211 |
212.708 |
47.402 |
|
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DEFERRED TAX LIABILITIES |
5.860 |
0.000 |
2.263 |
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|
|
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|
|
|
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TOTAL |
425.261 |
363.667 |
190.697 |
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APPLICATION OF FUNDS |
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|
|
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|
|
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|
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FIXED ASSETS [Net Block] |
285.046 |
217.463 |
62.166 |
|
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Capital work-in-progress |
0.975 |
54.245 |
33.871 |
|
|
|
|
|
|
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INVESTMENT |
0.000 |
0.000 |
0.000 |
|
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DEFERREX TAX ASSETS |
0.000 |
0.569 |
0.000 |
|
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
77.405
|
46.837 |
38.810 |
|
|
Sundry Debtors |
114.250
|
86.998 |
97.926 |
|
|
Cash & Bank Balances |
5.548
|
2.551 |
11.423 |
|
|
Other Current Assets |
0.286
|
0.145 |
0.055 |
|
|
Loans & Advances |
14.551
|
20.729 |
14.846 |
|
Total
Current Assets |
212.040
|
157.260 |
163.060 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
66.583
|
61.396 |
64.913 |
|
|
Other Current Liabilities |
0.929
|
0.793 |
0.743 |
|
|
Provisions |
5.288
|
3.681 |
2.744 |
|
Total
Current Liabilities |
72.800
|
65.870 |
68.400 |
|
|
Net Current Assets |
139.240
|
91.390 |
94.660 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
425.261 |
363.667 |
190.697 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
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SALES |
|
|
|
|
|
|
|
Income |
689.468 |
493.425 |
446.606 |
|
|
|
Other Income |
0.189 |
0.101 |
0.268 |
|
|
|
Exchange Differences (Net) |
11.560 |
0.000 |
1.598 |
|
|
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TOTAL (A) |
701.217 |
493.526 |
448.472 |
|
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|
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Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption of raw material |
373.588 |
261.461 |
256.433 |
|
|
|
Manufacturing expenses |
203.761 |
153.714 |
137.235 |
|
|
|
Administrative, selling and establishment expenses |
20.407 |
17.711 |
12.240 |
|
|
|
Exchange differences (net) |
0.000 |
15.071 |
0.000 |
|
|
|
Increase / decrease in stocks |
(7.842) |
4.416 |
(9.111) |
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TOTAL (B) |
589.914 |
452.373 |
396.797 |
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|
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
111.303 |
41.153 |
51.675 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
20.300 |
11.222 |
2.231 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
91.003 |
29.931 |
49.444 |
|
|
|
|
|
|
|
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
35.606 |
17.917 |
6.688 |
|
|
|
|
|
|
|
|
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|
PROFIT BEFORE
TAX (E-F) (G) |
55.397 |
12.014 |
42.756 |
|
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|
|
|
|
|
|
|
Less |
TAX (H) |
15.166 |
2.087 |
5.812 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
40.231 |
9.927 |
36.898 |
|
|
|
|
|
|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
128.489 |
119.555 |
82.657 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
0.993 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
168.720 |
128.489 |
119.555 |
|
|
|
|
|
|
|
|
|
|
IMPORT VALUE |
171.543 |
85.767 |
NA |
|
|
|
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|
|
|
|
|
|
Earnings Per
Share (Rs.) |
27.12 |
6.69 |
24.90 |
|
|
Particulars |
|
|
31.03.2011 |
|
Sales Turnover [Approximately] |
|
|
800.000 |
Expected Sales (2011-12) : Rs.1000.000 Millions
The above information has been parted by Mr. Ravi.
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
5.74
|
2.01 |
8.23 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.03
|
2.43 |
9.57 |
|
|
|
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|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.14
|
3.21 |
18.98 |
|
|
|
|
|
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|
Return on Investment (ROI) (PBT/Networth) |
|
0.29
|
0.08 |
0.30 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.57
|
1.85 |
0.82 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.91
|
2.39 |
2.38 |
LOCAL AGENCY FURTHER INFORMATION
Note: The registered office of the company has been shifted 2B, Cosmopolis L.D. Ruparel Marg, Malabar Hill, Mumbai-400006, Maharashtra, India from to the present address w.e.f. 01.12.2010
DETAILS OF SUNDRY CREDITORS:
|
Particulars |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
31.03.2008 (Rs. in millions) |
|
Total outstanding dues of creditors other
than micro enterprises and small enterprise |
|
|
|
|
For Goods |
47.365 |
43.353 |
36.932 |
|
For Expenses |
19.218 |
2.628 |
2.736 |
|
For Capital
Expenditure |
0.000 |
15.415 |
0.000 |
|
For Others |
0.000 |
0.000 |
25.245 |
|
Total |
66.583 |
61.396 |
64.913 |
|
Check List by
Info Agents |
Available in
Report (Yes / No) |
|
1) Year of Establishment |
Yes |
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2) Locality of the firm |
Yes |
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3) Constitutions of the firm |
Yes |
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4) Premises details |
Yes |
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5) Type of Business |
Yes |
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6) Line of Business |
Yes |
|
7) Promoter’s background |
-- |
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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 |
No |
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13) Reasons for variation <> 20% |
-- |
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14) Estimation for coming financial year |
Yes |
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15) Capital in the business |
No |
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16) Details of sister concerns |
No |
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17) Major suppliers |
No |
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18) Major customers |
No |
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19) Payments terms |
Yes |
|
20) Export / Import details (if applicable) |
Yes |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter involved in |
-- |
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23) Banking Details |
Yes |
|
24) Banking facility details |
-- |
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25) Conduct of the banking account |
-- |
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26) Buyer visit details |
-- |
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27) Financials, if provided |
No |
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28) Incorporation details, if applicable |
-- |
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29) Last accounts filed at ROC |
-- |
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30) Major Shareholders, if available |
-- |
BACKGROUND:
Subject is private limited company, incorporated on April 29, 1999
registered with the registered of companies Maharashtra. The company is a
manufacturer of Flexible Packaging Materials.
FINANCIAL
PERFORMANCES:
The flexible
packaging industry has shown trends of increased demands of laminated flexible
packaging in the year ended March 31, 2010. Adding to the decline of monolyered
polyethylene films has been the attempt by several companies to cut costs of
packaging, thus reducing their consumption of secondary and tertiary packaging
materials. For this reason Unit I of the company saw reduced sales in
comparison with the previous year while unit II saw its overall sales increase
fairly substantially.
NEW DEVELOPMENTS
The company
completed the construction and commenced commercial production of the new plant
in September 2008. On the other hand completion of the frontal façade, lobby
area and compound development have taken much longer and were only completed
towards the end of the financial year. The company now has a total installed
capacity of 12000 Metric Tonnes per annum.
The new
technologically advanced equipment along with the high output extrusion
lamination and three layer blown film lines have not only increased the production
capabilities of the company, but have also taken the company in the direction
of becoming a total flexible solutions company, and will provide the company
huge savings with reductions in wastages. The company, in an attempt to improve
social responsibility has also started re‐granulating its
wastages for re‐consumption.
As a result of all
of the above factors, the company has already started developing specialised
films and laminate structures for the packaging of processed and packaged
foods, edible oils, soaps and shampoos as well as lami‐tubes, with the
idea to widen its customer base as well as gain foot holds into industries
where the company did not have a presence in the past.
INDUSTRY DEVELOPMENTS
The last financial
year has seen the worst global financial crises in decades. As a result of
which commodity prices have seen the highest volatility as well as shortages.
Many companies even had to shut production of essential materials needed for
processing of flexible packaging materials. Despite the financial crises the
flexible packaging industry has managed to grow, although slower than in
previous years. Shrinking volumes of many end product manufacturers, as well as
financial constraints of buyers saw margins for the converting industry shrink
even further. Additionally the weakening Indian Rupee added further stress to
the business, making this last year one of the most challenging years for the
Industry as a whole.
OPPORTUNITIES
Despite all the
financial indicators declining world wide the company has managed to maintain a
growth rate of about 10% year on year, but the company has not been able to
fully exploit the benefits of its expanded capacity, technological advancements
in production capabilities and quality enhancements in the last year. On the
other hand the company is well positioned to exploit opportunities as the
global economies start the recovery process.
The company
management is confident that the new year will bring excellent business
opportunities, in packaged food, soaps, detergents and lami‐bubes. The company
has already gained in principle acceptance of a number of new materials
developed by the company, from a host of buyers and intends to capitalise on
all the ground breaking work done in the last financial year.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
This form is for |
Modification of charge |
|
Charge identification number of the
modified |
90147394 |
|
Corporate identity number of the company |
U25202MH1999PTC119671 |
|
Name of the company |
UNIGLOBE PACKAGING PRIVATE LIMITED |
|
Address of the registered office or of the
principal place of business in |
320-322, 3rd Floor, Arun Chambers, Tardeo Road,
Mumbai-400034, Maharashtra, India |
|
Type of charge |
Book Debts Movable Property (not being pledge) |
|
Particular of charge holder |
Bank of India, SSI Andheri (East) Branch, Mathuria Apartments, 49, Sir
M.V. Road, Andheri, Mumbai-400069, Maharashtra, India |
|
Email |
|
|
Nature of description of the instrument
creating or modifying the charge |
Deed of modification |
|
Date of instrument Creating the charge |
28.07.2011 |
|
Amount secured by the charge |
Rs.269.700 Millions |
|
Brief particulars of the principal terms
an conditions and extent and operation of the charge |
Rate of Interest Interest / commission as per supplemental deed
of hypothecation or at such other rate/s of interest / commission as may be
notified by the bank from time to time. Terms of Repayment CC (stock), CC (BDS), Rupee WCDL (CC
stock, CC Book debts), LC (F/I) (DP/ DA 90 days): On demand BG: Annual review
TL II, TL III, as per repayment schedule. Margin As required by the bank from time to time.
Extent and Operation of the charge Security and charge hereby created shall
be by way of 1st charge on all said hypothecated assets for due
repayment as provided in deed of all monies including principal sums,
interest / commission, costs,, charges and expenses and all the monies
whatsoever due owing and payable by borrower to the bank under on in respect
of or in connection with or in any wise concerning or relating to said
facilities agreed to be granted and or granted by the bank to borrower and
also for due repayment of all continued. Others Present and future indebtedness and
liabilities of borrow to bank of any kind in any manner whether solely or jointly
primary or collateral accrued or accruing with all relative interest /
commission, charges, costs and expenses. Revised facilities and limits (Rs.
In Millions): CC (Stock Rs.20.000), CC (BDS) Rs.60.000, Rupee WCDL: CC
(stock) Rs.10.000, CC (BDS) Rs.50.000 Total WC Rs.120.000, L/C (F/I) (DP/ DA
90 days) Rs.40.000, BG: Rs.1.700 Total Rs.161.700, TL II Rs.0.100, TL III
Rs.107.900, FCL (within TL III) (eq. to LC / Buyers Credit USD) Rs.65.100
Aggregate Rs.269.700. |
|
Short particulars of the property charged |
a) All tangible movable machineries and
plant, present and future, b) All tangible movable properties and assets and
stocks of whatsoever nature of the borrower both present and future
wheresoever situated at Plot No. 36, 37, 51 to 54 Silver Industrial
Estate, Bhimpore, Daman or wherever else, c) All present and future book
debts, outstanding, money receivable, claims, bills which are now due and
owing Or which may any time hereafter during the
continuance of this security become due and owing to the borrower. |
|
Date of latest modification prior to the
present modification |
26.07.2011 |
|
Particulars of the present
modification |
The bank and borrower agree to allow the
borrower to avail/repay credit facilities in respect of WC limit of Rs.60.000
millions (equivalent to US $ 1350000) by way of FC loan under FCNR ‘B’ scheme
in terms of RBI credit policy permitting the bank to grant FC loans. |
FIXED ASSETS:
·
Land
·
Office Premises
·
Building
·
Computer Systems
·
Furniture and Fixtures
·
Motor Car
·
Office Equipments
·
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.49.14 |
|
|
1 |
Rs.77.58 |
|
Euro |
1 |
Rs.67.58 |
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 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
45 |
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.