MIRA
INFORM REPORT
|
Report Date : |
03.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
PREMIER POLYFILM LIMITED |
|
|
|
|
Registered
Office : |
Flat No. 305, III
Floor, Elite House, 36, Community Centre, Kailash Colony Extension
(Zamroodpur), New Delhi – 110 048 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
17.07.1992 |
|
|
|
|
Com. Reg. No.: |
55-49590 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.105.900
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L25209DL1992PLC049590 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELP08818F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACP0371Q |
|
|
|
|
Legal Form : |
A Public
Limited Liability Company. The company’s shares are listed on stock
exchanges. |
|
|
|
|
Line of Business
: |
Manufacturer of PVC Films and Sheets. |
|
|
|
|
No. of Employees
: |
250 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
C (6) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
Status : |
Sick Company |
|
|
|
|
Payment Behaviour : |
Slow and Delayed |
|
|
|
|
Litigation : |
Exists |
|
|
|
|
Comments : |
Subject has been
declared as a sick company by the Board of Industrial and Financial Reconstruction
(BIFR). The net worth of the company has turned positive. However, the
company continues to be under the purview of BIFR. Payments are reported to
be slow and delayed. Initially, the company can be considered for business dealings on a safe secured 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 : |
Flat No. 305, III
Floor, Elite House, 36, Community Centre, Kailash Colony Extension
(Zamroodpur), New Delhi – 110 048, India
|
|
Tel. No.: |
91-11-26226481 91-120-2896986/2896987 |
|
Fax No.: |
91-11-26226482 91-120-2896982 |
|
E-Mail : |
|
|
Website : |
www.premierpoly.com
|
|
|
|
|
Corporate
Office : |
C-4, Commercial Centre Safdarjung Development Area, |
|
|
|
|
Head Office /
Factory: |
40/1A, Site IV, Sahibabad Industrial Area, Sahibabad, |
|
Tel. No.: |
91-120- 2896986/2896988 |
|
Fax No.: |
91-120- 2896982 |
|
E-Mail : |
DIRECTORS
As on 31.03.2010
|
Name : |
Mr. Amitabh Goenka |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Jaspal Singh Marwah |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Kamlesh Kumar Sinha |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Manoj Kumar Gupta |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. S.P. Jain |
|
Designation : |
Executive Director |
|
|
|
|
Name : |
Mr. Amar Nath Goenka |
|
Designation : |
Managing Director |
KEY EXECUTIVES
|
Name : |
Mr. N.K. Bhandari |
|
Designation : |
|
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.06.2011
|
Names of Shareholders |
Total
No. of Shares |
Total
Shareholding as a % of total No. of Shares |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
4,486,450 |
21.42 |
|
|
5,138,875 |
24.53 |
|
|
9,625,325 |
45.95 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
9,625,325 |
45.95 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
318,825 |
1.52 |
|
|
112,950 |
0.54 |
|
|
72,500 |
0.35 |
|
|
504,275 |
2.41 |
|
|
|
|
|
|
8,880,200 |
42.39 |
|
|
|
|
|
|
1,737,270 |
8.29 |
|
|
201,425 |
0.96 |
|
|
10,818,895 |
51.65 |
|
Total Public shareholding (B) |
11,323,170 |
54.05 |
|
Total (A)+(B) |
20,948,495 |
100.00 |
|
(C) Shares held by Custodians and against which Depository
Receipts have been issued |
- |
- |
|
|
- |
- |
|
|
- |
- |
|
|
- |
- |
|
Total (A)+(B)+(C) |
20,948,495 |
- |
(1) Indian
Individuals / Hindu Undivided Family
Individual shareholders holding nominal
share capital up to Rs.0.100 Million BUSINESS DETAILS
|
Line of Business : |
Manufacturer of PVC Films and Sheets. |
PRODUCTION STATUS (AS ON 31.03.2010)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
PVC films/sheets |
M.T. |
16200 |
16200 |
9598 |
GENERAL INFORMATION
|
No. of Employees : |
250
[Approximately] |
||||||||||||||||||||||||
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Bankers : |
·
Oriental Bank of Commerce, Industrial Finance
Branch, H – 15, Connaught Circus, ·
Canara Bank, S. D. Area, ·
Axis Bank Limited, Statesman House, Ground
Floor, 148, ·
Syndicate
Bank, |
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|
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Facilities : |
Note: The company has taken
vehicles loans from banks which are secured by way of hypothecation of the
vehicles. |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
De and Bose Chartered Accountants |
|
Address : |
8/2, |
|
|
|
|
Associates/Subsidiaries : |
|
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
30000000 |
Equity Shares |
Rs.5/- each |
Rs.150.000 Millions |
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
21415000 |
Equity Shares |
Rs.5/- each |
Rs.107.075
Millions |
Subscribed Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
21411820 |
Equity Shares |
Rs.5/- each |
Rs.107.059
Millions |
Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
20948495 |
Equity Shares |
Rs.5/- each |
Rs.104.742
Millions |
|
|
Add: Shares Forfeited |
|
Rs.1.158
Millions |
|
|
Total |
|
Rs.105.900 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 |
105.900 |
105.901 |
105.901 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
84.574 |
84.574 |
84.574 |
|
|
4] (Accumulated Losses) |
[18.577] |
[40.030] |
[415.663] |
|
|
NETWORTH |
171.897 |
150.445 |
[225.188] |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1.390 |
1.305 |
329.391 |
|
|
2] Unsecured Loans |
67.801 |
53.651 |
71.425 |
|
|
TOTAL BORROWING |
69.191 |
54.956 |
400.816 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
241.088 |
205.401 |
175.625 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
117.534 |
124.326 |
136.725 |
|
|
Capital work-in-progress |
0.348 |
2.384 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
88.096
|
63.503 |
76.900 |
|
|
Sundry Debtors |
69.688
|
60.476 |
75.719 |
|
|
Cash & Bank Balances |
54.786
|
32.813 |
5.531 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
16.139
|
17.326
|
13.825 |
|
Total
Current Assets |
228.709
|
174.118
|
171.975 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
60.772
|
50.789 |
|
|
|
Other Current Liabilities |
44.731
|
44.638
|
133.075 |
|
|
Provisions |
0.000
|
0.000
|
0.000 |
|
Total
Current Liabilities |
105.503
|
95.427
|
133.075 |
|
|
Net Current Assets |
123.206
|
78.691
|
38.900 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
241.088 |
205.401 |
175.625 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
507.208 |
737.413 |
597.389 |
|
|
|
Other Income |
11.253 |
23.188 |
25.410 |
|
|
|
TOTAL (A) |
518.461 |
760.601 |
622.799 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
358.697 |
583.193 |
450.031 |
|
|
|
Manufacturing Expenses |
47.990 |
51.168 |
44.662 |
|
|
|
Employees Remuneration and Benefits |
35.229 |
31.919 |
28.397 |
|
|
|
Administrative Expenses |
16.729 |
17.855 |
12.776 |
|
|
|
Selling & Distributions Expenses |
24.780 |
29.565 |
33.075 |
|
|
|
TOTAL (B) |
483.425 |
713.700 |
568.941 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) |
35.036 |
46.901 |
53.858 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
5.141 |
5.114 |
5.964 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
29.895 |
41.787 |
47.894 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
17.585 |
17.154 |
16.975 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
12.310 |
24.633 |
30.919 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.417 |
0.413 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
12.310 |
24.216 |
30.506 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(40.030) |
(415.663) |
|
|
|
|
INTEREST
PAYABLE TO BANKS AND FINANCIAL INSTITUTE WRITTEN BACK |
0.000 |
212.548 |
|
|
|
|
LOAN
PAYABLE TO BANKS AND FINANCIAL INSTITUTE WRITTEN BACK |
0.000 |
107.546 |
|
|
|
|
CREDIT
BALANCE UNSECURED LOAN WRITTEN BACK |
0.082 |
4.730 |
NA |
|
|
|
CREDIT
BALANCE SUNDRY CREDITORS WRITTEN BACK |
9.061 |
29.625 |
|
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
INTEREST OF PF DUES |
0.000 |
0.754 |
|
|
|
|
INTEREST ON ESI DUES |
0.000 |
2.278 |
|
|
|
BALANCE CARRIED
TO THE B/S |
(18.577) |
(40.030) |
NA |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
69.243 |
148.562 |
158.947 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
68.232 |
60.417 |
NA |
|
|
|
Capital Goods |
0.337 |
0.083 |
NA |
|
|
TOTAL IMPORTS |
68.569 |
60.500 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.59 |
0.58 |
0.90 |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.09.2010 |
31.12.2010 |
31.03.2011 |
30.06.2011 |
|
Type |
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
4th
Quarter |
|
Net Sales |
141.200 |
132.100 |
142.700 |
149.400 |
|
Total Expenditure |
132.300 |
123.900 |
132.000 |
140.400 |
|
PBIDT (Excl OI) |
8.900 |
8.200 |
10.700 |
9.000 |
|
Other Income |
0.000 |
0.000 |
0.000 |
0.0000 |
|
Operating Profit |
8.900 |
8.200 |
10.700 |
9.000 |
|
Interest |
1.400 |
1.200 |
2.400 |
1.400 |
|
PBDT |
7.500 |
7.000 |
8.300 |
7.600 |
|
Depreciation |
4.500 |
4.500 |
4.700 |
4.600 |
|
Profit Before Tax |
3.000 |
2.500 |
3.600 |
3.000 |
|
Tax |
0.000 |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
3.000 |
2.500 |
3.600 |
3.000 |
|
Net Profit |
3.000 |
2.500 |
3.600 |
3.000 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
2.37
|
3.18 |
4.90 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.43
|
3.34 |
5.17 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.55
|
8.25 |
10.02 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07
|
0.16 |
(0.14) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.02
|
1.00 |
(2.37) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.17
|
1.82 |
1.29 |
LOCAL AGENCY FURTHER INFORMATION
OPERATIONS:
During the period the company produced 9598 MT of PVC Flooring, Sheeting,
Films etc. as against 9871 MT produced during the pervious year, achieving a
capacity utilization of 59% as compared to and 61% in the previous year. The
company could achieve higher capacity utilization but for non availability of
working capital facility form banks and present depressed demand for products
due to current recession.
FUTURE PROSPECTS:
Despite facing tough competition form imported finished goods, the
products of the company are well received in the market and as such market will
not be a constraint after present recession is over. Barring unforeseen
circumstances, the company expects to do well in future.
Reference
to Board for Industrial and Financial reconstruction (BIFR)
The “NETWORTH” of the company has turned
positive. However, the company continues to be under the purview of BIFR. The
approved scheme of Rehabilitation is under implementation.
CONTINGENT
LIABILITIES NOT PROVIDED FOR IN RESPECT OF:
|
Particulars |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
|
Unredeemed Bank
Guarantees |
0.374 |
0.195 |
|
Bonds Executed in
Favour of Central Excise Department |
15.000 |
15.000 |
|
Total |
15.374 |
15.195 |
FIXED ASSETS:
· Land (Leasehold)
· Buildings
· Plant and Machinery
· Electrical Installations
· Furniture, Fixture and Office equipments, etc
· Vehicles
UNAUDITED FINANCIAL RESULTS
(PROVISIONAL) FOR THE QUARTER ENDED ON
30TH JUNE, 2011
Rs.
in Millions
|
PARTICULAR |
YEAR ENDED Audited |
THREE MONTHS
ENDED Unaudited |
|
|
31.03.2011 |
30.06.2011 |
|
|
|
|
|
(a) Net
Sales / Income from operations |
537.200 |
146.200 |
|
(b)
Other Operating Income |
11.500 |
3.200 |
|
Total
Income |
548.700 |
149.400 |
|
Expenditure |
|
|
|
a)
(Increase) / Decrease in stock in trade and work in progress |
(23.400) |
3.600 |
|
b)
Consumption of raw materials |
373.100 |
101.700 |
|
c)
Purchase of traded goods |
22.300 |
2.400 |
|
d)
Employees cost |
43.900 |
10.800 |
|
e)
Depreciation |
18.200 |
4.600 |
|
f)
Other expenditure |
96.600 |
21.900 |
|
Total |
530.700 |
145.000 |
|
Profit
from operations before other income, interest and exceptional Items |
18.000 |
4.400 |
|
Other
income |
-- |
-- |
|
Profit
before interest and exceptional Items |
18.000 |
4.400 |
|
Interest |
6.500 |
1.400 |
|
Profit after Interest but before
Exceptional Items |
11.500 |
3.000 |
|
Exceptional
Items |
-- |
-- |
|
Profit (+)/Loss(-) from
Oridinary Activities before tax |
11.500 |
3.000 |
|
Tax
expense |
2.400 |
-- |
|
Net Profit (+)/Loss(-) from
Ordinary Activities after tax |
9.100 |
3.000 |
|
Extraordinary items (Net of
tax expenses) |
-- |
-- |
|
Net
Profit (+) / Loss (-) for the year period |
9.100 |
3.000 |
|
Paid
up equity share capital (Face value of Rs.10/- per share) |
105.900 |
105.900 |
|
Reserves
excluding revaluation reserves as per balance sheet of previous accounting
year |
84.600 |
84.600 |
|
Earning
per share (EPS) |
|
|
|
(a) Basic and diluted
EPS before Extraordinary items for the period, for the year
to date and for the previous year (not to be
annualised) |
0.43 |
0.14 |
|
(a) Basic and diluted EPS
before Extraordinary items for the period, for the year
to date and for the previous year (not to be
annualised) |
0.43 |
0.14 |
|
Public
shareholding |
|
|
|
Number of shares |
11323120 |
11323120 |
|
Percentage of shareholding |
54.05 |
54.05 |
|
Promoters
and Promoters group Shareholding- |
|
|
|
a)
Pledged /Encumbered |
|
|
|
Number
of shares |
-- |
-- |
|
Percentage
of shares (as a % of total shareholding of the promoter and promoter group) |
-- |
-- |
|
Percentage
of shares (as a % of total share capital of the company) |
-- |
-- |
|
b)
Non Encumbered |
|
|
|
Number
of shares |
9625375 |
9625375 |
|
Percentage
of shares (as a % of total shareholding of the promoter and promoter group) |
100.00 |
100.00 |
|
Percentage
of shares (as a % of total share capital of the company) |
45.95 |
45.95 |
NOTES:
- The above Unaudited financial resulted were approved by the board in
their meeting held on 29.07.2011.
- Regrouping has been done wherever considered necessary.
- No complaint was received from any shareholder during the quarter
from 01-04-2011 to 30.06.2011. NO. complaint is pending.
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.45.89 |
|
|
1 |
Rs.74.31 |
|
Euro |
1 |
Rs.65.40 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
- |
|
OPERATING SCALE |
1~10 |
- |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
- |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
- |
|
--LEVERAGE |
1~10 |
- |
|
--RESERVES |
1~10 |
- |
|
--CREDIT LINES |
1~10 |
- |
|
--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 |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
NO |
|
TOTAL |
|
6 |
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.