MIRA
INFORM REPORT
|
Report Date : |
28.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
REX POLYEXTRUISION LIMITED |
|
|
|
|
Registered
Office : |
Extension C. S. No.1077, ‘Kumar’s Plaza, 1st Floor, North
Shivaji Nagar – 416416, Sangli, |
|
|
|
|
Country : |
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|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
16.02.1988 |
|
|
|
|
Com. Reg. No.: |
11-046241 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.21.300 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24304PN1988PLC046241 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
KLPR01439E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACR9290E |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Produces various types of Corrugated Pipes |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 398000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
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|
|
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Litigation : |
Clear |
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|
|
Comments : |
Subject is a well established company having satisfactory track. Trade
relation 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 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 DECLINED BY
|
Name : |
Mr. Chaudatta |
|
Designation : |
Finance Department |
|
Date : |
27.09.2011 |
LOCATIONS
|
Registered Office : |
Extension C. S. No.1077, ‘Kumar’s Plaza, 1st Floor, North
Shivaji Nagar – 416416, Sangli, |
|
Tel. No.: |
91-233-2621845
(4 lines) |
|
Fax No.: |
91-233-2621849 |
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E-Mail : |
|
|
Website : |
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|
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|
Branch 1 : |
REX Mumbai |
|
Address : |
Unit no. 116,
1st Floor, Prabhadevi Unique Industrial Estate, Bombay Dying Compound,
Twin Tower Lane, Prabhadevi, Mumbai - 400 025, Maharashtra, India |
|
Tel. No.: |
91-22-24383516 |
|
Fax No.: |
91-22–24383519 |
|
E-Mail : |
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|
|
|
|
Branch 2 : |
REX Delhi |
|
Address : |
S 1 & 2,
IInd Floor, Manish Highway Plaza -II, Plot no.25, Sector -20, Dwaraka, New Delhi - 110 075,
Delhi, India |
|
Tel. No.: |
91 -11 -28050130 |
|
Fax No.: |
91 -11 -28050131 |
|
E-Mail : |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Sanjay Bhalchandra Dandekar |
|
Designation : |
Managing director |
|
Address : |
F-B2,Akashganaga Apt.Shiva,,Inagar(N), Sangli – 416416, |
|
Date of Birth/Age : |
19.02.1957 |
|
Date of Appointment : |
26.06.1995 |
|
DIN No.: |
00272581 |
Other Directorship
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date of
appointment |
Date of
cessation |
Company Status |
Defaulting
status |
|
1 |
U24304PN1988PLC046241 |
REX
POLYEXTRUISION LIMITED |
Managing
director |
26-06-95 |
26-06-95 |
- |
Active |
NO |
|
2 |
U24119PN1993PTC074503 |
REX ORGANICS PVT
LTD |
Director |
01-06-06 |
01-06-06 |
- |
Active |
NO |
|
3 |
U25209MH2006PTC191332 |
ZENPLAS PIPES
PRIVATE LIMITED |
Director |
31-07-06 |
31-07-06 |
- |
Active |
NO |
|
Name : |
Mr. Chandrashekhar Bhalchandra Dandekar |
|
Designation : |
Whole-time director |
|
Address : |
147.I,Paranjape Plots,Nr.Auto |
|
Date of Birth/Age : |
18.11.1963 |
|
Date of Appointment : |
26.06.1995 |
|
DIN No.: |
00272543 |
Other Directorship
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of appointment
at current designation |
Original date of
appointment |
Date of
cessation |
Company Status |
Defaulting
status |
|
1 |
U24304PN1988PLC046241 |
REX
POLYEXTRUISION LIMITED |
Whole-time
director |
26-06-95 |
26-06-95 |
- |
Active |
NO |
|
2 |
U24119PN1993PTC074503 |
REX ORGANICS
PRIVATE LIMITED |
Director |
01-06-06 |
01-06-06 |
- |
Active |
NO |
|
3 |
U25209MH2006PTC191332 |
ZENPLAS PIPES
PRIVATE LIMITED |
Director |
31-07-06 |
31-07-06 |
- |
Active |
NO |
|
4 |
U25191MH2008PTC184208 |
SHREE YOGESHWARI
POLYTHYLENE PRODUCTS PRIVATE LIMITED |
Director |
02-07-08 |
02-07-08 |
21-03-11 |
Active |
NO |
|
Name : |
Mr. Ravindra Gangadhar Bukate |
|
Designation : |
Director |
|
Address : |
388,Yashwantnagar, Sangli - 416416, |
|
Date of Birth/Age : |
21-05-1955 |
|
Date of Appointment : |
29.07.2005 |
|
DIN No.: |
00272503 |
|
|
|
|
Name : |
Mr. Mukul Pravinchandra Parikh |
|
Designation : |
Director |
|
Address : |
Sangli – 416416, |
|
Date of Birth/Age : |
15.06.1964 |
|
Date of Appointment : |
25.08.2008 |
|
DIN No.: |
02334296 |
KEY EXECUTIVES
|
Name : |
Mr. Charudatta |
|
Designation : |
Finance Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Sanjay Bhalchandra Dandekar |
|
1000 |
|
Chandrashekhar Bhalchandra Dandekar |
|
615970 |
|
Swati Sanjay Dandekar |
|
860960 |
|
Shilpa Chandrashekhar Dandekar |
|
175060 |
|
Anil Madhukar Shende |
|
4000 |
|
Umesh Vasudev Nayak |
|
1000 |
|
Rajendra Ganesh Dandekar |
|
1000 |
|
Manohar Chandrashekhar Sawle |
|
500 |
|
Basavraj Danappa Navalgi |
|
500 |
|
Santosh P. Navalgi |
|
500 |
|
Suman Appasaheb Bhendwale |
|
1500 |
|
Chandresh Sevantilal Doshi |
|
500 |
|
Sachin Suresh Dol |
|
1000 |
|
Prakash Devkisan malu |
|
500 |
|
Gopal Ghansham Bajaj |
|
500 |
|
Satish Kondiba Sawant |
|
2000 |
|
Mangal Gourishankar Palanitkar |
|
500 |
|
Arun Rangnath Dandekar |
|
1000 |
|
Arun Rangnath Dandekar |
|
1000 |
|
Suresh Balgonda Patil |
|
1000 |
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 |
0.12 |
|
Directors or relatives of Directors |
69.38 |
|
Other top fifty shareholders |
30.50 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Produces various types of Corrugated Pipes |
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|
|
|
Products : |
|
PRODUCTION STATUS
31.03.2010
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Pipes |
MT / K. MTRS |
NA |
5900 MT |
4252.617 K. MTRS |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
M. V. Thanedar and Company Chartered Accountant |
|
Address : |
Above Bata Shoe Mart, |
|
PAN.: |
ACZPT1235F |
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 |
|
|
|
|
|
|
2130000 |
Equity Shares |
Rs.10/- each |
Rs.21.300 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 |
21.300 |
21.300 |
21.300 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
78.206 |
62.476 |
47.560 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
99.506 |
83.776 |
68.860 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
58.758 |
48.495 |
24.029 |
|
|
2] Unsecured Loans |
32.341 |
8.861 |
1.221 |
|
|
TOTAL BORROWING |
91.099 |
57.356 |
25.250 |
|
|
DEFERRED TAX LIABILITIES |
9.562 |
8.531 |
6.914 |
|
|
|
|
|
|
|
|
TOTAL |
200.167 |
149.663 |
101.024 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
89.083 |
79.999 |
51.662 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
1.194 |
1.348 |
0.811 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.00 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
51.054
|
28.965 |
21.767 |
|
|
Sundry Debtors |
124.716
|
86.913 |
54.071 |
|
|
Cash & Bank Balances |
20.953
|
5.549 |
5.533 |
|
|
Other Current Assets |
6.460
|
3.193 |
7.769 |
|
|
Loans & Advances |
15.305
|
19.016 |
4.846 |
|
Total
Current Assets |
218.488
|
143.636 |
93.986 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
97.450
|
60.250 |
23.500 |
|
|
Other Current Liabilities |
11.148
|
15.070 |
17.301 |
|
|
Provisions |
0.000
|
0.000 |
4.634 |
|
Total
Current Liabilities |
108.598
|
75.320 |
45.435 |
|
|
Net Current Assets |
109.890
|
68.316 |
48.551 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
200.167 |
149.663 |
101.024 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
388.989 |
292.709 |
257.673 |
|
|
|
Closing Stock |
29.004 |
14.142 |
8.267 |
|
|
|
Other Income |
8.739 |
2.628 |
34.523 |
|
|
|
Contract receipt |
12.008 |
22.937 |
28.766 |
|
|
|
Work-in-progress |
0.670 |
0.460 |
0.152 |
|
|
|
TOTAL (A) |
439.410 |
332.876 |
329.381 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Material Consumed |
318.191 |
220.115 |
222.865 |
|
|
|
Manufacturing Expenses |
19.952 |
16.929 |
14.145 |
|
|
|
Contract Expenses |
7.137 |
21.327 |
23.080 |
|
|
|
Traveling Expenses |
2.344 |
1.693 |
0.994 |
|
|
|
Work in progress |
0.460 |
0.152 |
0.000 |
|
|
|
Opening Stock |
14.142 |
8.267 |
6.583 |
|
|
|
Selling Expenses |
10.539 |
8.937 |
7.726 |
|
|
|
Directors' Remuneration |
2.400 |
2.400 |
2.400 |
|
|
|
Bank Commission |
2.234 |
1.532 |
0.585 |
|
|
|
Salary 6 Bonus |
4.448 |
3.061 |
1.431 |
|
|
|
Postage & Telephone |
1.187 |
1.029 |
0.790 |
|
|
|
Repairs 6 maintenance |
1.625 |
2.153 |
0.183 |
|
|
|
Bad Debts |
5.376 |
2.518 |
0.000 |
|
|
|
Insurance |
0.397 |
0.150 |
0.190 |
|
|
|
Misc. Expenses |
5.871 |
3.288 |
3.043 |
|
|
|
ESIC |
0.095 |
0.088 |
0.108 |
|
|
|
Provident Fund |
0.365 |
0.357 |
0.330 |
|
|
|
Sales Tax/WCT |
0.965 |
1.292 |
0.349 |
|
|
|
Excise Duty |
0.000 |
0.013 |
0.014 |
|
|
|
Deferred Tax Liability |
1.030 |
1.617 |
3.556 |
|
|
|
Income Tax |
0.469 |
1.088 |
0.455 |
|
|
|
Fringe Benefit Tax |
0.000 |
0.000 |
0.060 |
|
|
|
TOTAL (B) |
399.227 |
298.006 |
288.887 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
40.183 |
34.870 |
40.494 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
11.893 |
7.688 |
5.400 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
28.290 |
27.182 |
35.094 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
6.062 |
4.372 |
3.790 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
22.228 |
22.810 |
31.304 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
6.497 |
7.894 |
11.781 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
15.731 |
14.916 |
19.523 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
Export Earnings |
|
|
|
|
|
|
Commission Earnings |
|
|
|
|
|
|
Other Earnings |
|
|
|
|
|
|
TOTAL EARNINGS |
18.397 |
15.851 |
14.138 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
7.38 |
7.00 |
9.16 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
3.58
|
4.48 |
5.93 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.71
|
7.79 |
12.15 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.23
|
10.20 |
21.49 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.22
|
0.27 |
0.45 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.01
|
1.58 |
1.08 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.01
|
1.91 |
2.07 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
(Rs.
In Millions)
|
Particulars |
31.03.2010 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors |
97.450
|
60.250 |
23.500 |
|
|
|
|
|
NOTE
Registered office of the company has been sifted from “Sangli – 416016
Maharashtra
PERFORMANCE OF THE
COMPANY
The company has earned sales of Rs.4l7.ll4 Millions for the financial
year as against Rs.323.076 Millions for the previous financial year. The
company has earned profit of Rs.15.730 Millions as at close of the financial
year 2009-10.
FORM 8
|
Corporate
identity number of the company |
U24304PN1988PLC046241 |
|
Name of the
company |
REX POLYEXTRUISION LIMITED |
|
Address of the
registered office or of the principal place of business in |
Extension C. S. No. 1077, 'Kumar's Plaza, 1st Floor, North Shivaji
Nagar, Sangli – 416416 E-Mail Id : rexpipes@rediffmail.com
|
|
This form is for |
Modification of charge |
|
Charge
identification (ID) number of the charge to be modified |
10234168 |
|
Type of charge |
Book debts Movable property (not being pledge) Floating charge |
|
Particular of
charge holder |
State Bank Of India, Industrial Estate, Near Rto Office, Madhavanagar
Road, Sangli, Sangli – 416416 Maharashtra, India E-mail Id : rexpipes@rediffmail.com
|
|
Nature of
instrument creating charge |
1)Supplement Agreement of loan cum Hypothecation 2) Guarantee Agreement 3)Letter of Arrangement |
|
Date of
instrument Creating the charge |
02.04.2011 |
|
Amount secured by
the charge |
Rs.70.000 Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest 05.75% above base rate or such rate as bank may notify from time to
time. Terms of repayment As per Letter of arrangement Margin CC-NIL, Bank Guarantee-10% Extent and operation of the charge First charge Others Collateral Security offered (includes residual value of primary) as
per Annexure A to Letter of Arrangement attached. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Raw Material from Indian Oil Corporation Limited / SIP /Finished Goods
and Stock & Book debts as per schedule B to Supplemental Agreement of Loan-
Cum - Hypothecation |
|
Particulars of
the present modification |
The existing limits of Bank Guarantee of Rs.10.000 Millions increased
to 30.000 Millions. Thus increasing total banking facilities from existing
Rs.50.000 Millions to Rs.70.000 Millions (Total facilities of Rs.70.000
Millions constitute as CC:Rs.40.000 Millions and Bank Guarantee Rs.30.000
Millions only) |
FIXED ASSETS
- Plot
- Building
- Machinery
- Electric fitting
- Furniture
- Computers
- Cars
- Brandname
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.49.18 |
|
|
1 |
Rs.76.65 |
|
Euro |
1 |
Rs.66.63 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
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 |
|
46 |
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.