|
Report Date : |
07.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
BERGER BECKER COATINGS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
19, DDA Commercial Complex, Kailash Colony Extension, Zamrudpur, New
Delhi – 110048 |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
30.09.1996 |
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|
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|
Com. Reg. No.: |
55-082343 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs.55.294 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL1996PTC082343 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer and Exporter of coil coating paints and all others kinds of
paints such as automobile paints, wood-paints, finishes, distemper, primer,
oxide, resin and chemicals. |
|
|
|
|
No. of Employees
: |
160 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1250000 |
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|
|
|
Status : |
Satisfactory |
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|
|
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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. Manohar |
|
Designation : |
Account Officer |
|
Contact No.: |
91-832-2407103 |
|
Date : |
06.04.2012 |
LOCATIONS
|
Registered Office/ Head Office : |
19, DDA Commercial Complex, Kailash Colony Extension, Zamrudpur, New
Delhi – 110048, India |
|
Tel. No.: |
91-11-26480394 |
|
Fax No.: |
91-11-26447864 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1 : |
114, Pilerne Industrial Estate, Post Saligao, Bardez, Goa – 403511,
India |
|
Tel. No.: |
91-832-2407103/4/7 |
|
Fax No.: |
91-832-2407106 |
|
|
|
|
Factory 2 : |
316-317, Kundiam Industrial Estate, Kundiam, Ponda, Goa, India |
|
Tel. No.: |
91-832-2395664/63 |
|
Fax No.: |
91-832-2395664 |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Kuldip Singh Dhingra |
|
Designation : |
Director |
|
Address : |
555, Sukhsarvar Village, Gadiapur, PO Mehrauli, New Delhi – 110030,
India |
|
Date of Birth/Age : |
02.09.1947 |
|
Date of Appointment : |
12.08.1997 |
|
DIN No.: |
00048406 |
|
|
|
|
Name : |
Mr. Gurbachan Singh Dhingra |
|
Designation : |
Director |
|
Address : |
Rahen Basera 6, Sultanpur Farms, Mehrauli, New Delhi – 110030, India |
|
Date of Birth/Age : |
09.04.1950 |
|
Date of Appointment : |
30.09.1996 |
|
DIN No.: |
00048465 |
|
|
|
|
Name : |
Mr. Sunil Sharma |
|
Designation : |
Director |
|
Address : |
3/2, Shanti Niketan, New Delhi – 110021, India |
|
Date of Birth/Age : |
15.11.1951 |
|
Date of Appointment : |
30.09.1996 |
|
DIN No.: |
00097157 |
|
|
|
|
Name : |
Mr. Olivier Laune |
|
Designation : |
Director |
|
Address : |
14, BIS Avenue, De Grance, Blanche 69160, Tassinla Demi Lune, France |
|
Date of Appointment : |
22.03.2005 |
|
DIN No.: |
00107807 |
|
|
|
|
Name : |
Mr. Bengt Olof Ingman |
|
Designation : |
Director |
|
Address : |
Tetorpsnagen 20, Se 194 39, Uppl Vasby, Sweden |
|
Date of Appointment : |
15.06.1999 |
|
DIN No.: |
00117429 |
|
|
|
|
Name : |
Mr. Simon Ralph Kabalo |
|
Designation : |
Director |
|
Address : |
105, Rue De Credqui, 69006 Lyon, France |
|
Date of Appointment : |
22.03.2005 |
|
DIN No.: |
00594759 |
|
|
|
|
Name : |
Mr. Yan Phay Ng |
|
Designation : |
Additional director |
|
Address : |
N 1, 02, 01, Jalan USJ 14/1, Goodyear Court, Subangjaya 47610 NA,
Malaysia |
|
Date of Birth/Age : |
22.06.1958 |
|
Date of Appointment : |
14.01.2009 |
|
DIN No.: |
02230941 |
KEY EXECUTIVES
|
Name : |
Mr. Niranjan Daga |
|
Designation : |
Secretary |
|
Address : |
Sanchay Apartments, Flat No. S 3, St. Mary’s Colony, Miramar, Goa –
403001, India |
|
Date of Birth/Age : |
07.10.1971 |
|
Date of Appointment : |
27/03/2008 |
|
PAN No.: |
ADHPD3822D |
|
|
|
|
Name : |
Mr. Manohar |
|
Designation : |
Account Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Gurbachan S Dhingra |
|
90 |
|
Berger Paints India Limited, India |
|
270850 |
|
Becker Industrial Coatings Holdings AB, Sweden |
|
281999 |
|
Total |
|
552939 |
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 |
51.00 |
|
Bodies corporate |
48.98 |
|
Directors or relatives of Directors |
0.02 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of coil coating paints and all others kinds
of paints such as automobile paints, wood-paints, finishes, distemper,
primer, oxide, resin and chemicals. |
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Products : |
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||||||
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Exports : |
|
||||||
|
Products : |
·
Coil coating paints ·
Automobile paints ·
Wood-paints ·
Finishes ·
Distemper ·
Primer ·
Oxide ·
Resin ·
Chemicals |
||||||
|
Countries : |
Bangladesh |
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|
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Imports : |
|
||||||
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Products : |
Raw Material |
||||||
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Countries : |
·
France ·
China |
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|
||||||
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Terms : |
|
||||||
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Selling : |
L/C/ Cheque |
||||||
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|
||||||
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Purchasing : |
L/C/ Cheque |
PRODUCTION STATUS AS ON 31.03.2011
|
Particulars |
|
Licensed
Capacity |
Installed
Capacity |
Actual
Production (Ltrs.) |
|
Paints |
|
N.A. |
13600 MT |
4865589 |
|
|
|
|
|
|
GENERAL INFORMATION
|
Customers : |
Manufacturer |
|||||||||||||||
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|||||||||||||||
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No. of Employees : |
160 (Approximately) |
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|||||||||||||||
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Bankers : |
·
Indian Overseas Bank, Goa, India ·
Axis Bank, 4/10, OPG House, Asaf Ali Road, New
Delhi – 110002, India |
|||||||||||||||
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|
|||||||||||||||
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Facilities : |
Notes: *1 Secured by first charge on the entire current assets of the company
and a second charge on the entire fixed assets (movable and immovable) of the
company. *2 Due within one year Rs.10.408 Millions (Last year Rs.15.481
Millions) |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
J. C. Bhalla and Company Chartered Accountants |
|
Address : |
B-5, Sector-6, Noida – 201301, Uttar Pradesh, India |
|
PAN.: |
AAAFJ3258M |
|
|
|
|
Holding Company : |
Becker Industrial Coatings Holding AB |
|
|
|
|
Associates : |
·
Becker Industrial Coatings, China ·
Becker Industrial Coatings Limited, United
Kingdom ·
Becker Industries SA, France ·
Becker Industrial Coatings (M) Sdn Bhd, Malaysia ·
Becker Industrial Coatings Limited, Sweden ·
Becker Industrial Coatings, Korea ·
Becker Acroma, Sweden |
|
|
|
|
Joint Venture : |
Berger Paints India Limited |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
560000 |
Equity Shares |
Rs.100/- each |
Rs.56.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
552939 |
Equity Shares |
Rs.10/- each |
Rs.55.294 Millions |
|
|
|
|
|
Out of the above 281999 equity shares are held
by Becker Industrial Coatings Holding AB
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 |
55.294 |
55.294 |
55.294 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
256.443 |
229.854 |
241.790 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
311.737 |
285.148 |
297.084 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
148.358 |
194.462 |
204.221 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
148.358 |
194.462 |
204.221 |
|
|
DEFERRED TAX LIABILITIES |
11.625 |
10.854 |
7.194 |
|
|
|
|
|
|
|
|
TOTAL |
471.720 |
490.464 |
508.499 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
183.917 |
202.090 |
210.064 |
|
|
Intangible Assets |
0.052 |
0.744 |
1.437 |
|
|
Capital work-in-progress |
5.633 |
5.634 |
5.634 |
|
|
Capital Advance |
0.560 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
224.659
|
192.830 |
208.788 |
|
|
Sundry Debtors |
192.792
|
185.429 |
168.462 |
|
|
Cash & Bank Balances |
1.942
|
12.903 |
1.010 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
52.756
|
32.416 |
43.292 |
|
Total
Current Assets |
472.149
|
423.578 |
421.552 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
121.086
|
97.220 |
89.240 |
|
|
Other Current Liabilities |
57.572
|
31.515 |
34.278 |
|
|
Provisions |
11.933
|
12.847 |
6.670 |
|
Total
Current Liabilities |
190.591
|
141.582 |
130.188 |
|
|
Net Current Assets |
281.558
|
281.996 |
291.364 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
471.720 |
490.464 |
508.499 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
932.048 |
712.735 |
857.008 |
|
|
|
Other Income |
15.724 |
8.970 |
16.238 |
|
|
|
TOTAL (A) |
947.772 |
721.705 |
873.246 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Material Consumed |
803.330 |
570.607 |
717.729 |
|
|
|
Personnel Expenses |
29.550 |
31.887 |
27.536 |
|
|
|
Manufacturing, Administrative and Selling Expenses |
89.987 |
82.880 |
85.961 |
|
|
|
(Increase)/ Decrease in Finished Goods/ Work-in-Progress |
(40.621) |
3.858 |
(3.948) |
|
|
|
TOTAL (B) |
882.246 |
689.232 |
827.278 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
65.526 |
32.473 |
45.968 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
19.773 |
26.780 |
18.836 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
45.753 |
5.693 |
27.132 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
12.944 |
13.147 |
8.811 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
32.809 |
(7.454) |
18.321 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
6.220 |
4.482 |
2.985 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I)
(I) |
26.589 |
(11.936) |
15.336 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
0.000 |
207.406 |
192.070 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
26.589 |
195.470 |
207.406 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
|
|
Export of Finished Goods (FOB) |
47.669 |
23.625 |
14.295 |
|
|
|
Export of Raw Material (FOB) |
7.264 |
0.000 |
0.000 |
|
|
|
Discount Received |
1.018 |
3.098 |
3.414 |
|
|
TOTAL EARNINGS |
55.951 |
26.723 |
17.709 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
363.927 |
224.655 |
312.930 |
|
|
|
Stores & Spares |
0.289 |
1.538 |
0.432 |
|
|
|
Capital Goods |
0.375 |
0.000 |
2.956 |
|
|
TOTAL IMPORTS |
364.591 |
226.193 |
316.318 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
48.09 |
(21.59) |
27.73 |
|
Expected Sales (2011-12) : Rs.1700.000 Millions
The above information has been parted by Mr. Manohar.
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
2.81
|
1.65 |
1.76 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.52
|
1.05 |
2.14 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.00
|
1.19 |
2.90 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.11
|
0.03 |
0.06 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.08
|
1.18 |
1.13 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.48
|
2.99 |
3.24 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
(Rs.
in Millions)
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Sundry Creditors |
|
|
|
|
Total Outstanding dues of Micro and Small Enterprises |
2.715 |
0.000 |
0.000 |
|
Total Outstanding dues of Creditors other than Micro and Small
Enterprises |
118.371 |
97.220 |
89.240 |
|
TOTAL |
121.086
|
97.220 |
89.240 |
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
|
4) Premises details |
No |
|
5) Type of Business |
Yes |
|
6) Line of Business |
Yes |
|
7) Promoter’s background |
Yes |
|
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 |
Yes |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
Yes |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
Yes |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
Yes |
|
20) Export / Import details (if applicable) |
Yes |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
Yes |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
Yes |
|
29) Last accounts filed at ROC |
No |
|
30) Major Shareholders, if available |
Yes |
OPERATIONS
The gross sales and other income earned during the financial year ended
31st March, 2010 was Rs.1017.485 against Rs.801.841 Millions in
previous year. During the year profit after tax was Rs.26.589 Millions against
loss of Rs.11.936 Millions in previous year.
FIXED ASSETS
·
Leasehold land
·
Building
·
Plant and Machinery
·
Office Equipments
·
Furniture and Fixtures
·
Vehicles
·
Computer Software
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.51.05 |
|
|
1 |
Rs.81.09 |
|
Euro |
1 |
Rs.67.39 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
47 |
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.